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Volume 3 • Number 9 • September 2006
Statistical Supplement
M to the Federal Keserve
tne t eaeral Reserve
£ BULLETIN
Board of Governors of the Federal Reserve System, Washington, D.C.
PUBLICATIONS COMMITTEE
Rosanna Pianalto Cameron, Chair • Scott G. Alvarez • Sandra Braunstein • Roger T. Cole
• Marianne M. Emerson • Jennifer J. Johnson • Karen H. Johnson • Stephen R. Malphrus
• Vincent R. Reinhart • Louise L. Roseman • David J. Stockton
The Statistical Supplement to the Federal Reserve Bulletin is issued monthly under the direction of the staff Publications Committee. It is assisted by the Economic
Editing Section, Division of Research and Statistics, and the Publications Department, Office of Board Members.
Preface
The Statistical Supplement to the Federal Reserve
Bulletin is a continuation of the Financial and Business Statistics section that appeared in each month's
issue of the Federal Reserve Bulletin (1914-2003).
The Statistical Supplement began publication in
2004. It is designed as a compact source of economic
and financial data. All statistical series are published
with the same frequency that they had in the Bulletin,
and the numbering system for the tables remains the
same.
Subscription information for the Statistical Supplement is on the inside front cover. For subscription
information about the Bulletin, contact Publications
Fulfillment at (202) 452-3245, or send an e-mail
to publications-bog@frb.gov. The Supplement is
also available on the Board's website, at
www.federalreserve.gov/pubs/supplement.
If you have questions regarding the tables in
the Statistical Supplement, please send a fax to
(202) 785-6092 or (202) 728-5886, or send an e-mail
to publications-bog@frb.gov.
Financial and Business Statistics:
Table of Contents
These tables reflect the data available as of the second
week of September 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 • September 2006
INTERNATIONAL STATISTICS
Summary Statistics
44 U.S. international transactions
44 U.S. reserve assets
45 Foreign official assets held at Federal Reserve
Banks
45 Selected U.S. liabilities to foreign official
institutions
Reported by Banks in the United States
45
46
48
49
Liabilities to, and claims on, foreigners
Liabilities to foreigners
Banks' own claims on foreigners
Banks' own and domestic customers' claims on
foreigners
Reported by Nonbanking Business
Enterprises in the United States
50 Liabilities to unaffiliated foreigners
52 Claims on unaffiliated foreigners
Securities Holdings and Transactions
54 Foreign transactions in securities
55 Marketable U.S. Treasury bonds and
notes—Foreign transactions
Interest and Exchange Rates
56 Foreign exchange rates
57 GUIDE TO SPECIAL TABLES
SPECIAL TABLES
58 Terms of lending at commercial banks,
June 30, 2006
60 Small loans to businesses and farms, 2005
63 Community development lending reported under the
Community Reinvestment Act, 2005
64 INDEX TO STATISTICAL TABLES
66 FEDERAL RESERVE BOARD PUBLICATIONS
68 ANTICIPATED SCHEDULE OF RELEASE DATES FOR
PERIODIC STATISTICAL RELEASES
70 PUBLICATIONS OF INTEREST
71 FEDERAL RESERVE STATISTICAL RELEASES
AVAILABLE ON THE COMMERCE DEPARTMENT'S
ECONOMIC BULLETIN BOARD
Symbols and Abbreviations
c
e
n.a.
n.e.c.
P
r
*
0
ABS
ATS
BIF
CD
CMO
CRA
FAMC
FFB
FFIEC
FHA
FHLBB
FHLMC
FmHA
FNMA
FSA
FSLIC
G-7
G-10
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 • September 2006
1.10
RESERVES AND MONEY STOCK MEASURES
Percent annual rate of change, seasonally adjusted1
Monetary or credit aggregate
Q3
Q4
Q1
Q2
-2.4
-3.7
-4.1
3.7
-4.8
-5.6
-3.2
4.2
-12.9
-10.5
-12.2
6.0
9.4
7.3
8.4
4.4
3.1
4.4
4.6
6.9
-12.4
-11.8
-15.6
3.8
24.6
16.2
22.5
4.4
10.8
12.0
12.8
6.7'
10.8
11.7
.8
4.5
7.8
-.3
5.0
9.3
2.4
6.3
n.a.
1.1
3.2
n.a.
-5.5
3.4
6.5
7.8
2.7
4.9
4.0
2.6
1.2'
-20.5
5.9
n.a.
5.5
14.9
6.4
17.7
7.3
n.a.
3.8
n.a.
5.7
11.7
4.9
20.3
12.3
7.0
8.2
21.4
5.6
15.2P
n.a.
15.0
n.a.
1.6
15.6'
16.5
-3.5
16.1'
6.2
12.3
-10.8
14.9'
n.a.
6.4
18.6
n.a.
21.0
33.1
-3.7
29.6
36.0
2.4
16.4
n.a.
-6.7
20.8
n.a.
8.2
18.2
-3.1
-11.7
18.9
-21.3
20.7
7.1
21.3
n.a.
4.4
23.2
n.a.
Money market mutual funds
16 Retail10
17 Institution-only
-.8
11.8
4.7
12.1
8.1
9.1
13.5
11.5
14.1
7.3
7.8
14.6
15.0
15.7
35.3
15.6
Repurchase agreements and Eurodollars
18 Repurchase agreements
19 Eurodollars
22.5
11.5
22.3
7.9
n.a.
n.a.
n.a.
n.a.
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.
37.0
14.3
12.7
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
May 17
May 24
May 31
June 7
June 14
June 21
June 28
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
824,664
760,177
760,177
275,370
458,693
22,646
3,468
0
23,750
168
20
0
149
-260
40,828
11,041
2,200
37,958
822,830
760,449
760,449
275,370
458,932
22,646
3,501
0
22,857
174
21
0
152
214
39,137
11,041
2,200
37,969
826,960
762,401
762,401
275,370
460,850
22,646
3,535
0
26,429
195
23
0
172
-1,529
39,465
11,041
2,200
37,980
829,420
763,824
763,824
275,370
462,230
22,646
3,578
0
25,821
223
14
0
209
-22
39,574
11,041
2,200
37,982
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
794,734
24,152
24,152
0
183
794,456
25,789
25,789
0
198
793,975
23,657
23,657
0
181
793,843
23,218
23,218
0
185
798,189
23,584
23,584
0
188
796,788
24,067
24,067
0
197
794,479
24,310
24,310
0
205
793,045
26,519
26,519
0
204
792,877
27,042
27,042
0
193
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
12,970
5,192
105
7,366
7,366
0
308
33,897
11,183
13,217
5,476
88
7,365
7,365
0
288
33,506
10,072
12,790
4,870
88
7,580
7,580
0
253
34,002
9,428
13,179
5,233
85
7,579
7,579
0
282
35,043
11,369
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
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
794,000
25,677
25,677
0
196
795,419
30,400
30,400
0
174
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
Apr.
May
820,622
758,789
758,789
275,370
457,397
22,646
3,376
0
22,858
252
171
0
81
-1,371
40,093
11,043
2,200
37,906
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
790,688
24,467
24,467
0
200
12,948
5,036
85
7,536
7,536
0
291
33,212
10,255
SUPPLYING RESERVE FUNDS
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
Reserve Bank credit outstanding
Securities held outright
U.S. Treasuiy2
Bills3
Notes and bonds, nominal3
Notes and bonds, inflation-indexed3
Inflation compensation4
Federal agency3
Repurchase agreements5
Loans to depository institutions
Primary credit
Secondary credit
Seasonal credit
Float
Other Federal Reserve assets
Gold stock
Special drawing rights certificate account
Treasury currency outstanding
19
20
21
22
23
24
Currency in circulation
Reverse repurchase agreements'"
Foreign official and international accounts
Dealers
Treasury cash holdings
Deposits with Federal Reserve Banks, other than
reserve balances
U.S. Treasury, general account
Foreign official
Service-related
Required clearing balances
Adjustments to compensate for float
Other
Other liabilities and capital
Reserve balances with Federal Reserve Banks7 . .
ABSORBING RESERVE FUNDS
25
26
27
28
29
30
31
32
End-of-month figures
Wednesday figures
May 24
May 31
June 7
June 14
824,230
762,378
762,378
275,370
460,850
22,646
3,513
0
22,500
179
18
0
161
-38
39,210
11,041
2,200
37,969
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
832,427
764,877
764,877
275,370
463,264
22,646
3,597
0
26,750
219
4
0
216
981
39,599
11,041
2,200
37,982
830,023
766,245
766,245
275,370
464,580
22,646
3,649
0
24,250
245
280
-1,037
40,375
11,041
2,200
37,990
821,440
759,651
759,651
275,370
458,155
22,646
3,480
0
21,500
178
21
0
157
1,228
38,883
11,041
2,200
37,958
799,103
24,603
24,603
0
196
797,157
29,164
29,164
0
174
794,980
22,569
22,569
0
185
796,323
22,803
22,803
0
187
799,103
24,603
24,603
0
196
796,993
23,769
23,769
0
205
795,164
26,002
26,002
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
12,810
5,055
85
7,366
7,366
0
304
33,049
9,047
12,890
5,188
85
7,365
7,365
0
252
33,148
10,090
10,545
2,637
86
7,580
7,580
0
242
34,508
15,903
13,488
5,552
87
7,579
7,579
0
270
34,540
14,655
Apr.
May
824,371
759,690
759,690
275,370
458,273
22,646
3,401
0
24,250
138
40
0
98
-1,089
41,382
11,041
2,200
37,936
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
790,794
24,108
24,108
0
182
11,844
4,784
86
6,696
6,696
0
278
33,807
14,812
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 .
233
-616
39,900
11,041
2,200
37,984
289
-485
40,411
11,041
2,200
37,988
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.
4,468
84
7,317
7,317
0
242
34,546
13,219
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 • September 2006
1.12
RESERVES AND BORROWINGS
Depository Institutions1
Millions of dollars
Prorated monthly averages of biweekly averages
2006
2003
1
7
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
2004
2005
2005
Dec.
Reserve classification
Dec.
Dec.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
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
10.045
51,306
35,356
15,950
45,401
43,492
1,909
10.045
51,306
35,356
15,950
45,401
43,492
1,909
10.277
52,068
36,904
15,164
47,181
45,594
1,587
9.405
53,287
35,244
18,043
44,649
43,107
1,543
9.125
49,603
33,625
15,978
42,750
41,246
1,504
10.283
48,370
34,438
13,932
44,721
42,893
1,828
10,655
48,287
34,742
13,546
45,396
43,596
1,800
9,923
48,979
35,131
13,847
45,054
43,270
1,784
46
17
0
29
63
11
0
52
169
97
0
72
169
97
0
72
110
78
0
32
53
21
169
119
0
50
248
164
0
84
175
24
0
151
253
16
0
237
30
B weekly averages of daily figures for two-week periods ending on dates indicated
2006
Mar. 1
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. 15
Mar. 29
Apr. 12
Apr. 26
May 10
May 24
June 7
June 21
July 5
10,219
51,167
36,808
14,360
47,026
45,416
1,610
8,964
48,425
31,226
17,200
40,189
38,461
1,728
9,194
50,800
36,042
14,758
45,235
44,052
1,183
9,237
48,689
31,911
16,778
41,147
39,024
2,123
11,010
48,267
36,507
11,760
47,517
46,042
1,475
10,879
47,777
34,781
12,997
45,659
43,480
2,179
10,624
48,881
35,121
13,760
45,745
44,315
1,429
10,397
47,829
33,928
13,901
44,325
42,326
1,999
9,630
48,536
34,821
13,715
44,451
42,821
1,630
10,009
50,561
36,550
14,011
46,559
44,704
1,854
40
6
4
30
61
15
0
46
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
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
Seasona credit3
Effective date
Previous rate
On
9/22/06
Effective date
Previous rate
On
9/22/06
Effective date
Previous rate
6.25
Boston
Vew York
Philadelphia
Cleveland
Richmond
Atlanta
On
9/22/06
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
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 September 22, 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 • September 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
12/22/05
12/22/05
12/22/05
0
5 Eurocurrency liabilities
Effective date
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.
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
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 . . .
0
0
80,886
80,886
0
1,563
0
67,302
67,302
0
1,308
0
68,077
68,077
0
1,228
0
79,509
79,509
0
0
0
64,886
64,886
0
0
0
75,196
75,196
0
1,096
0
14,200
-15,297
189
0
0
0
0
0
0
0
13,599
-13,594
1,321
1,200
0
11,858
-10,989
0
0
0
8,000
-8,334
0
0
0
0
-834
0
1,375
0
24,441
-15,746
1,217
11,309
0
-91,121
97,723
1,096
0
-11,240
13,077
0
0
0
0
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
5,763
0
-8,012
7,554
3,626
0
-7,041
7,375
800
0
266
2,221
0
0
0
0
1,505
0
0
0
25
0
-5,205
841
174
0
-3,500
0
0
0
0
0
101
0
949
2,294
220
0
-8,938
0
1,364
0
-10,524
2,007
0
-11,395
3,000
0
0
-3,227
0
0
0
0
205
0
0
1,765
924
0
-1,878
841
90
0
0
0
0
0
0
0
0
0
-4,092
0
36,856
0
0
50,507
0
28,136
0
2,795
3,481
0
189
0
0
0
6,082
0
1,321
5,955
0
0
3,628
0
0
1,096
0
0
3,793
0
1,217
36,856
50,507
1,522,888
1,518,638
1,887,650
2,083,300
140,750
129,500
223,000
211,500
185,750
206,750
157,000
151,250
204,250
209,000
163,750
166,250
200,750
194,250
4,942,131
4,946,691
5,621,153
5,626,285
6,421,223
6,420,945
505,101
508,976
581,376
581,826
504,837
498,351
445,563
446,346
558,568
560,306
488,091
485,659
531,844
532,338
-310
-15,882
14,028
7,375
11,050
-14,514
4,967
-6,488
36,536
34,626
39,369
10,667
11,050
-9,752
10,922
-2,860
18,150
0
738.886
738,886
0
821,685
821,685
8,300
0
871,661
871,661
0
65,570
65,570
6,565
0
96,433
-103,153
0
7,994
0
103,380
-118,373
2,894
0
109,557
-108,098
2,795
7,814
0
-76,364
97,256
17,249
0
-84,844
110,819
4,107
0
-11,131
5,897
3,292
5,955
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.
6,006
1,028
8,582
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 • September 2006
FEDERAL RESERVE BANKS
Condition and Federal Reserve Note Statements'
Millions of dollars
Wednesday
May 31
June 14
June 21
Apr.
May
Consolidated condition statement
ASSETS
11,037
2,200
722
790,739
766,245
766,245
275,370
464,580
22,646
3,649
0
24,250
245
4,868
1,852
37,883
20,016
17,867
11,037
2,200
729
788,818
766,297
766,297
275,370
464,580
22,646
3,701
0
22,250
271
5,430
1,854
38,150
20,061
18,090
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
826
784,078
759,690
759,690
275,370
458,273
22,646
3,401
0
24,250
138
4,018
1,831
39,452
20,043
19,408
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
852,484
849,301
848,217
847,898
843,443
854,883
855,233
762,030
24,603
26,360
23,395
2,637
86
242
7,383
4,888
759,914
23,769
28,059
22,150
5,552
87
270
6,202
5,056
758,103
26,002
25,172
20,378
4,468
84
242
5,477
5,118
756,935
25,677
25,360
19,651
5,385
87
238
5,432
5,102
758,321
30,400
19,439
14,239
4,879
90
231
5,097
5,179
753,863
24,108
26,562
21,414
4,784
86
278
5,103
4,714
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
825,264
19 Total assets
11,037
2,200
703
791,846
764,877
764,877
275,370
463,264
22,646
3,597
0
26,750
219
7,192
1,847
37,658
20,275
17,384
854,883
Gold certificate account
Special drawing rights certificate account
Coin
Securities, repurchase agreements, and loans
Securities held outright
U.S. Treasury2
Bills3
Notes and bonds, nominal3
Notes and bonds, inflation-indexed3
Inflation compensation4
Federal agency3
Repurchase agreements5
Loans
Items in process of collection
Bank premises
Other assets
Denominated in foreign currencies'"
All other7
11,037
2,200
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
822,999
819,873
818,508
818,436
814,350
825,264
825,232
14,956
12,901
1,762
14,965
12,901
1,618
14,965
12,901
1,562
14,966
12,901
1,843
14,968
12,901
1,593
13,817
12,901
2,375
14,956
12,901
1,762
14,970
12,901
2,130
29,619
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
29,484
29,462
29,093
1,619,796
1,115,371
504,425
4,426
1,628,450
1,121,697
506,753
3,418
1,639,280
1,118,893
520,387
3,869
1,610,551
1,118,345
492,206
1,115
LIABILITIES
20
21
22
23
24
25
26
27
28
Federal Reserve notes, net of F.R. Bank holdings
Reverse repurchase agreements5
Deposits
Depository institutions
U.S. Treasury, general account
Foreign official
Other
Deferred availability cash items
Other liabilities and accrued dividends9
29 Total liabilities
CAPITAL ACCOUNTS
30 Capital paid in
31 Surplus
32 Other capital accounts
30,001
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
1,632,988
1,123,359
509,630
2,405
1,640,513
1,126,316
514,197
1,901
1,619,796
1,115,371
504,425
4,426
1,634,581
1,116,162
518,419
7,849
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
924,207
925,033
925,922
927,275
928,954
916,980
924,207
929,585
162,177
762,030
762,030
11,037
2,200
748,793
0
165,119
759,914
759,914
11,037
2,200
746,677
0
167,819
758,103
758,103
11,037
2,200
744,866
0
170,340
756,935
756,935
11,037
2,200
743,699
0
170,633
758,321
758,321
11,037
2,200
745,084
0
163,117
753,863
753,863
11,037
2,200
740,626
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
793,161
791,627
790,495
788,547
788,849
783,940
793,161
797,614
24,633
23,799
26,035
25,711
30,442
24,152
24,633
29,221
768,528
767,828
764,460
762,836
758,407
759,788
768,528
768,392
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
May 31
May
Apr.
1 Total loans
171
36
0
38
181
0
47
198
255
15
276
25
0
123
15
171
36
217
74
0
762,411
764,877
766,245
766,297
766,349
759,690
762,411
766,364
58,534
164.445
188,284
213,268
59,600
78,280
58,519
173,401
179,347
214,618
60,688
78,304
56,340
176,968
177,963
215,950
60,696
78,328
63,220
171,044
177,012
215,966
60,704
78,352
61,309
172,967
177,003
215,982
60,712
78,375
45,530
185,147
176,689
216,929
55,385
80,012
58,534
164,445
188,284
213,268
59,600
78,280
41,004
184,882
184,065
217,316
60,714
78,382
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
30,750
26,750
24,250
22,250
22,500
24,250
30,750
31,250
20 Within 15 days
30,750
0
26,750
0
24,250
0
22,250
0
22,500
0
24,250
0
30,750
0
31,250
0
26,002
25,677
26,002
0
25,677
0
30,400
0
24,108
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"
24,603
24,603
23,769
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.
24,603
24,603
0
29,164
0
2. Cash value of agreements classified by remaining maturity of the agreements.
12
Federal Reserve Bulletin Statistical Supplement • September 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.
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
45.42
45.29
43.63
784.15
45.31
45.14
43.40
787.09
44.04
43.93
42.46
791.98
44.15
44.10
42.61
796.55
43.70
43.53
42.19
799.05
44.59
44.35
42.76
801.97
44.99
44.82
43.19
806.48
45.40
45.15
43.62
805.53
Not seasonally adjusted
5
6
7
8
Total reserves'"
Nonborrowed reserves .
Required reserves7 . . . .
Monetary bases
40.13
40.05
38.12
686.23
42.45
42.41
41.41
725.21
46.52
46.46
44.61
764.66
45.16
44.99
43.25
793.38
44.34
44.21
42.55
783.95
45.16
44.99
43.25
793.38
47.11
47.00
45.52
795.22
44.66
44.61
43.12
796.16
42.77
42.60
41.27
798.14
44.75
44.50
42.92
800.90
45.42
45.25
43.62
804.71'
45.09
44.83
43.30
804.91
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
45.40
45.23
43.49
802.30
1.91
.17
44.62
44.50
42.83
792.94
1.79
.13
45.40
45.23
43.49
802.30
1.91
.17
47.18
47.07
45.59
804.29
1.59
.11
44.65
44.60
43.11
804.42
1.54
.05
42.75
42.58
41.25
806.16
1.50
.17
44.72
44.47
42.89
808.42
1.83
.25
45.40
45.22
43.60
811.90
1.80
.18
45.05
44.80
43.27
812.23
1.78
.25
NOT ADJUSTED FOR
CHANGES IN RESERVE REQUIREMENTS9
9
10
11
12
13
14
Total reserves10
Nonborrowed reserves
Required reserves
Monetary base1'
Excess reserves'2
Borrowings from the Federal Reserve
1. Latest monthly and biweekly figures are available from the Board's H.3 (502) weekly
statistical release, available at www.federalreserve.gov/releases. Historical data starting in
1959 and estimates of the effect on required reserves of changes in reserve requirements are
available from the Monetary and Reserve Analysis Section, Division of Monetary Affairs,
Board of Governors of the Federal Reserve System, Washington, DC 20551.
2. Figures reflect adjustments for discontinuities, or "breaks," associated with regulatory
changes in reserve requirements. (See also table 1.10.)
3. Seasonally adjusted, break-adjusted total reserves equal seasonally adjusted, breakadjusted required reserves (line 3) plus excess reserves (line 13).
4. Seasonally adjusted, break-adjusted nonborrowed reserves equal seasonally adjusted,
break-adjusted total reserves (line 1) less total borrowings of depository institutions from the
Federal Reserve (line 14).
5. The seasonally adjusted, break-adjusted monetary base consists of (1) seasonally
adjusted, break-adjusted total reserves (line 1), plus (2) the seasonally adjusted currency
component of the money stock, plus (3) (for all quarterly reporters on the "Report of
Transaction Accounts, Other Deposits and Vault Cash" and for all those weekly reporters
whose vault cash exceeds their required reserves) the seasonally adjusted, break-adjusted
difference between current vault cash and the amount applied to satisfy current reserve
requirements.
6. Break-adjusted total reserves equal break-adjusted required reserves (line 7) plus excess
reserves (line 13).
7. To adjust required reserves for discontinuities that are due to regulatory changes in
reserve requirements, a multiplicative procedure is used to estimate what required reserves
would have been in past periods had current reserve requirements been in effect. Breakadjusted required reserves include required reserves against transactions deposits and nonpersonal time and savings deposits (but not reservable nondeposit liabilities).
8. The break-adjusted monetary base equals (1) break-adjusted total reserves (line 5), plus
(2) the (unadjusted) currency component of the money stock, plus (3) (for all quarterly
reporters on the "Report of Transaction Accounts, Other Deposits and Vault Cash" and for all
those weekly reporters whose vault cash exceeds their required reserves) the break-adjusted
difference between current vault cash and the amount applied to satisfy current reserve
requirements.
9. Reflects actual reserve requirements, including those on nondeposit liabilities, with no
adjustments to eliminate the effects of discontinuities associated with regulatory changes in
reserve requirements.
10. Reserve balances with Federal Reserve Banks plus vault cash used to satisfy reserve
requirements.
11. The monetary base, not break-adjusted and not seasonally adjusted, consists of (1) total
reserves (line 9), plus (2) required clearing balances and adjustments to compensate for float
at Federal Reserve Banks, plus (3) the currency component of the money stock, plus (4) (for
all quarterly reporters on the "Report of Transaction Accounts, Other Deposits and Vault
Cash" and for all those weekly reporters whose vault cash exceeds their required reserves) the
difference between current vault cash and the amount applied to satisfy current reserve
requirements. Since February 1984, currency and vault cash figures have been measured over
the computation periods ending on Mondays.
12. Unadjusted total reserves (line 9) less unadjusted required reserves (line 11).
Monetary and Credit Aggregates
1.21
13
MONEY STOCK MEASURES1
Billions of dollars, averages of daily figures
2002
Dec.
2003
Dec.
2004
Dec.
2005
Dec.
Apr.
May
Seasonally adjusted
Measures2
1 Ml
2 M2
3 M3
1,219.0
5.782.8
8,568.0
1,304.2
6,065.8
8,872.3
1,372.3
6,413.2
9,433.0
1,368.7
6,671.8
10,154.0
1,384.9
6,767.2'
n.a.
1,390.6
6,789.8'
n .a.
1,393.6
6,796.4'
n.a.
1,369.8
6,829.8
n.a.
626.2
7.8
306.0
279.1
662.3
7.7
324.6
309.5
697.3
7.6
340.3
327.1
723.5
7.3
320.8
317.2
736.6
6.9
322.2
319.2'
739.0
6.8
326.3'
318.4
742.7
6.9
326.9
317.1
740.8
7.0
312.0
310.0
4.563.8
2,767.4
4.761.7
2,792.7
5.041.0
3,011.1
5.303.1
3,478.5
5.382.3'
n.a.
5.399.2'
n .a.
5.402.8'
n.a.
5.460.0
n.a.
Commercial banks
10 Savings deposits, including MMDAs . . .
11 Small time deposits9
12 Large time deposits10-"
2,060.9
590.1
698.2
2,337.9
536.4
764.5
2,632.0
545.1
909.3
2,771.7
637.5
1,122.9
2.784.9
662.8'
n.a.
2.799.4'
669.6'
n .a.
2.774.2
677.9'
n.a.
2.789.0
688.4
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
338.8
230.7
855.9
354.2
n.a.
840.7
360.3
n .a.
845.7
366.7
n.a.
848.8
373.8
n.a.
892.5
1.247.7
782.5
1.117.6
704.6
1.069.6
705.1
1.138.3
724.5
1.156.8
729.2
1.170.9
738.3
1.186.2
760.0
1.201.6
473.4
230.7
494.8
295.3
492.6
379.1
564.3
423.9
n.a.
n.a.
n .a.
n .a.
n.a.
n.a.
n.a.
n.a.
4
5
6
7
Ml components
Currency3
Travelers checks4
Demand deposits5
Other checkable deposits6
Nontransaction components
8 In M27
9 In M3 onlys
Money market mutual funds
16 Retail12
17 Institution-only
Repurchase agreements and Eurodollars
18 Repurchase agreements
19 Eurodollars
Not seasonally adjusted
Measures2
20 Ml
21 M2
22 M3
1.245.0
5,814.4
8,633.5
1.332.1
6,098.2
8,927.8
1.401.5
6,448.1
9,482.2
1.396.7
6,709.4
10,201.4
1.394.3'
6,772.8'
1,396.8'
6,836.4'
n.a.
1.391.8'
6,774.5'
n.a.
1,377.5
6,832.1
630.3
7.7
323.3
283.8
666.7
7.6
342.8
315.0
702.4
7.5
358.9
332.7
728.9
7.2
338.0
322.6
736.9
6.9
328.4
322.2
738.7
6.8
324.5
326.8
741.9
6.9
325.8
317.1
741.1
7.0
317.6
311.7
Nontransaction components
27 In M27
28 In M3 onlys
4.569.4
2,801.3
4.766.1
2,815.9
5.046.6
3,025.4
5.312.6
3,488.3
5.378.5'
5.439.6'
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
636.9
1,114.4
2.778.8
662.7'
2.827.9
670.0'
2.761.4
678.5'
2.788.0
689.0
Thrift institutions
32 Savings deposits, including MMDAs . . .
33 Small time deposits9
34 Large time deposits10
718.2
302.4
117.3
831.5
273.3
120.1
887.9
271.6
160.4
851.3
338.5
228.9
854.0'
354.2
849.3
360.5
n.a.
841.8
367.0
848.5
374.1
896.9
1,281.3
787.1
1,144.4
709.1
1,091.4
709.9
1,158.4
728.8
1,159.3
731.9
1,160.4
734.1
1,168.1
755.0
1,191.8
476.4
228.8
497.6
292.8
494.6
376.6
566.1
422.0
23
24
25
26
Ml components
Currency3
Travelers checks4
Demand deposits5
Other checkable deposits6
Money market mutual funds
35 Retail12
36 Institution-only
Repurchase agreements and Eurodollars
37 Repurchase agreements
38 Eurodollars
Footnotes appeal on following page.
n.a.
n.a.
5.454.6
14
Federal Reserve Bulletin Statistical Supplement • September 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
Aug.'
2006
2006
2005
Feb.'
Mar.'
Apr.'
May'
June'
July'
Aug.
Aug. 9
Aug. 16
Aug. 23
Aug. 30
Seasonall 1 adjusted
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
Assets
Bank credit
Securities in bank credit
Treasury and Agency securities2 . .
Other securities
Loans and leases in bank credit3 . . . .
Commercial and industrial
Real estate
Revolving home equity
Other
Consumer
Security4
Other loans and leases
Interbank loans
Cash assets5
Other assets'"
16 Total assets7
17
18
19
20
21
22
23
24
25
26
Liabilities
Deposits
Transaction
Nontransaction
Large time
Other
Borrowings
From banks in the U.S
From others
Net due to related foreign offices
Other liabilities
27 Total liabilities
28 Residual (assets less liabilities)5
7,361.6
2,069.0
1,175.3
893.6
5,292.6
1,011.4
2,825.2
442.0
2,383.2
716.8
245.4
493.8
281.7
325.2
689.9
7,645.4
2,104.8
1,181.5
923.3
5,540.6
1,070.4
2,959.5
446.7
2,512.8
711.9
263.4
535.4
289.8
316.6
753.8
7,713.0
2,113.7
1,185.9
927.8
5,599.4
1,081.1
2,989.0
449.9
2,539.1
722.3
269.3
537.7
300.5
317.8
753.2
7,804.2
2,166.1
1,196.9
969.2
5,638.0
1,098.2
3,013.7
446.4
2,567.3
726.8
260.9
538.4
299.7
313.3
761.2
7,922.2
2,202.9
1,193.1
1,009.9
5,719.2
1,118.6
3,040.7
443.7
2,596.9
733.6
281.1
545.3
287.4
306.7
779.6
7,931.9
2,188.5
1,199.7
988.8
5,743.4
1,127.0
3,080.5
444.6
2,635.9
728.6
259.2
548.0
298.0
306.8
784.0
7,983.5
2,200.8
1,210.6
990.2
5,782.7
1,138.2
3,117.6
451.1
2,666.4
721.8
256.9
548.2
290.7
310.6
798.7
8,034.0
2,209.7
1,217.7
992.0
5,824.3
1,165.7
3,117.9
447.2
2,670.7
727.0
263.9
549.8
281.1
298.9
797.8
8,006.7
2,204.2
1,209.1
995.0
5,802.5
1,158.6
3,121.0
447.1
2,673.9
724.3
255.5
543.0
278.3
298.4
789.2
8,030.1
2,202.0
1,215.4
986.6
5,828.1
1,171.8
3,116.7
446.6
2,670.1
726.6
262.6
550.5
274.6
301.7
788.4
8,047.9
2,217.6
1,219.7
997.9
5,830.2
1,167.6
3,119.1
447.5
2,671.6
728.8
264.3
550.5
292.3
293.8
808.3
8,052.0
2,216.0
1,225.9
990.1
5,836.1
1,167.3
3,113.6
447.0
2,666.6
728.7
273.2
553.3
278.6
301.7
807.7
8,590.3
8,939.2
9,017.4
9,110.9
9,228.1
9,253.0
9,315.8
9,344.0
9,305.0
9,326.9
9,374.3
9,372.3
5,647.8
681.1
4,966.7
1,362.4
3,604.3
1,678.5
353.1
1,325.4
63.0
484.3
5,827.1
662.5
5,164.6
1,476.2
3,688.4
1,783.5
371.1
1,412.4
60.2
494.5
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
6,001.9
663.7
5,338.2
1,599.0
3,739.2
1,831.7
366.7
1,465.0
82.5
549.6
6,028.1
637.2
5,390.9
1,614.6
3,776.3
1,810.9
349.0
1,461.8
136.6
552.6
6,037.9
661.1
5,376.8
1,646.2
3,730.6
1,808.2
333.2
1,475.0
128.7
562.1
5,979.8
634.6
5,345.2
1,610.8
3,734.4
1,797.2
337.7
1,459.5
164.0
552.0
6,046.9
643.3
5,403.6
1,646.6
3,757.0
1,800.9
330.1
1,470.9
110.2
557.5
6,089.8
675.0
5,414.8
1,658.7
3,756.2
1,811.8
338.0
1,473.8
117.3
564.2
6,040.9
700.3
5,340.6
1,672.4
3,668.1
1,817.1
324.0
1,493.1
125.6
579.2
7,873.7
8,165.2
8,246.8
8,348.7
8,456.7
8,465.6
8,528.2
8,537.0
8,493.0
8,515.6
8,583.1
8,562.8
716.6
774.0
770.5
762.3
771.3
787.4
787.6
807.1
812.0
811.4
791.1
809.5
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.
7 343 2
2,064.3
1,170.9
893.4
5,278.9
1,006.0
2,825.9
443.4
2,382.4
714.1
308.9
405.2
237.8
495.2
280.3
314.8
692.0
7 635 6
2,100.4
1,177.7
922.7
5,535.1
1,073.8
2,956.6
447.0
2,509.6
716.7
306.2
410.5
261.9
526.1
288.2
314.7
748.7
7,679.5
2,103.6
1,180.0
923.6
5,575.9
1,084.8
2,972.8
446.6
2,526.2
716.7
296.9
419.8
268.6
533.0
303.3
307.0
748.2
7,788.7
2,163.7
1,199.9
963.7
5,625.1
1,105.3
2,999.8
444.9
2,554.9
720.1
299.6
420.5
263.5
536.4
306.2
308.1
764.0
7,916.7
2,210.9
1,203.6
1,007.4
5,705.8
1,124.7
3,038.5
444.7
2,593.7
728.0
306.5
421.5
271.8
542.9
284.1
303.4
784.5
7,925.4
2,191.5
1,202.4
989.0
5,733.9
1,130.8
3,072.0
446.2
2,625.8
721.9
304.8
417.1
258.8
550.4
291.1
302.7
786.2
7,951.6
2,188.6
1,203.0
985.6
5,763.0
1,136.1
3,109.0
452.0
2,657.0
714.5
306.8
407.7
253.0
550.3
283.3
305.9
799.2
8,010.9
2,203.1
1,211.4
991.7
5,807.7
1,159.5
3,118.3
448.7
2,669.6
724.3
311.8
412.5
256.7
548.9
279.3
289.2
800.1
7,984.7
2,196.6
1,202.1
994.5
5,788.1
1,152.8
3,121.9
448.1
2,673.8
716.6
307.0
409.6
252.7
544.1
275.1
282.2
796.1
8,001.7
2,190.3
1,204.4
985.9
5,811.4
1,165.5
3,117.7
448.3
2,669.4
723.2
311.8
411.4
255.1
549.9
276.1
287.7
794.5
8,017.4
2,209.2
1,213.0
996.2
5,808.2
1,161.5
3,116.7
448.8
2,667.9
729.2
315.4
413.8
253.2
547.7
286.2
275.9
806.6
8,037.3
2,215.5
1,223.7
991.8
5,821.8
1,160.4
3,116.4
449.1
2,667.4
729.6
314.0
415.5
264.2
551.1
278.3
303.6
804.7
8,562.2
8,920.7
8,970.7
9,099.8
9,221.1
9,237.6
9,272.4
9,311.5
9,270.3
9,292.1
9,318.0
9,356.1
5,632.8
667.8
4,965.1
1,360.0
3,605.0
1,672.6
354.1
1,318.5
63.7
485.7
5,830.1
653.9
5,176.2
1,479.6
3,696.6
1,781.4
369.7
1,411.7
67.1
501.1
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
6,012.1
661.3
5,350.8
1,612.2
3,738.5
1,842.1
366.1
1,476.0
75.6
543.2
6,013.7
630.4
5,383.3
1,617.7
3,765.6
1,806.3
348.3
1,458.0
128.0
544.7
6,023.1
648.3
5,374.9
1,643.4
3,731.5
1,801.5
334.1
1,467.3
129.6
563.6
5,984.6
582.8
5,401.8
1,610.7
3,791.0
1,789.2
339.1
1,450.0
160.3
549.0
6,042.6
629.5
5,413.0
1,638.8
3,774.3
1,789.8
329.3
1,460.5
108.9
557.1
6,022.3
675.8
5,346.4
1,657.2
3,689.2
1,807.4
337.0
1,470.3
122.1
568.9
6,031.6
716.7
5,314.9
1,668.6
3,646.3
1,814.2
326.8
1,487.4
130.2
584.2
7,854.9
8,179.7
8,217.2
8,344.2
8,458.1
8,473.0
8,492.8
8,517.8
8,483.1
8,498.4
8,520.7
8,560.2
707.4
741.0
753.5
755.6
763.0
764.7
779.7
793.7
787.2
793.7
797.3
795.9
16
Federal Reserve Bulletin Statistical Supplement • September 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
Aug.
2006
2006
2005
Feb.'
Mar.'
Apr.'
May'
June'
July'
Aug.
Aug. 9
Aug. 16
Aug. 23
Aug. 30
Seasonall 1 adjusted
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
Assets
Bank credit
Securities in bank credit
Treasury and Agency securities2 . .
Other securities
Loans and leases in bank credit3 . . . .
Commercial and industrial
Real estate
Revolving home equity
Other
Consumer
Security4
Other loans and leases
Interbank loans
Cash assets5
Other assets'"
16 Total assets7
17
18
19
20
21
22
23
24
25
26
Liabilities
Deposits
Transaction
Nontransaction
Large time
Other
Borrowings
From banks in the U.S
From others
Net due to related foreign offices
Other liabilities
27 Total liabilities
28 Residual (assets less liabilities)5
6,595.3
1,737.2
1,089.3
647.9
4,858.1
849.0'
2,808.2'
442.0'
2,366.2'
716.8
103.6
380.4
233.1
264.0
652.3
6,826.4
1,761.8
1,103.6
658.3
5,064.5
896.1
2,938.7
446.7
2,492.0
711.9
114.6
403.2
246.1
265.4
715.0
6,883.4
1,769.3
1,107.6
661.7
5,114.2
904.8
2,967.7
449.9
2,517.8
722.3
113.4
406.0
252.9
265.7
716.1
6,955.6
1,809.2
1,119.7
689.5
5,146.4
916.3
2,991.6
446.4
2,545.2
726.8
105.5
406.2
251.8
264.1
721.1
7,023.5
1,819.8
1,112.9
706.8
5,203.7
932.0
3,018.0
443.7
2,574.3
733.6
111.6
408.5
242.2
257.4
730.4
7,042.7
1,812.4
1,120.2
692.2
5,230.3
935.0
3,058.4
444.6
2,613.7
728.6
95.1
413.3
249.5
255.0
737.9
7,091.0
1,826.7
1,130.1
696.6
5,264.3
943.8
3,094.9
451.1
2,643.8
721.8
93.2
410.7
244.2
257.6
752.9
7,114.1
1,825.3
1,133.3
692.0
5,288.8
958.2
3,095.5
447.2
2,648.3
727.0
96.7
411.4
229.9
246.7
748.6
7,097.4
1,820.3
1,126.0
694.3
5,277.0
954.9
3,098.4
447.1
2,651.3
724.3
93.1
406.3
230.7
246.5
740.4
7,108.8
1,818.7
1,130.1
688.6
5,290.1
963.6
3,094.2
446.6
2,647.6
726.6
94.1
411.7
221.6
248.0
740.6
7,128.5
1,833.1
1,136.8
696.4
5,295.4
958.2
3,096.9
447.5
2,649.4
728.8
99.6
411.9
236.3
242.8
760.9
7,120.8
1,829.5
1,139.3
690.2
5,291.3
957.5
3,091.3
447.0
2,644.3
728.7
99.6
414.2
228.7
249.9
753.8
7,677.3r
7,987.1
8,051.6
8,125.7
8,186.3
8,218.0
8,278.4
8,272.0
8,247.8
8,251.6
8,301.0
8,285.9
5,032.9
668.7
4,364.2
774.5'
3,589.7'
1,290.6
299.9
990.7
256.4
387.1
5,207.7
649.3
4,558.4
869.4
3,689.0
1,344.2
310.8
1,033.4
269.5
393.1
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
946.4
3,725.7
1,387.1
316.0
1,071.1
298.6
430.6
5,348.1
625.3
4,722.8
958.5
3,764.3
1,376.9
299.9
1,077.0
333.8
436.9
5,335.5
649.8
4,685.8
962.1
3,723.7
1,372.3
285.9
1,086.4
324.8
438.5
5,309.1
622.6
4,686.5
958.5
3,728.1
1,362.5
286.6
1,075.9
334.0
429.8
5,336.4
630.7
4,705.7
960.3
3,745.4
1,362.4
281.7
1,080.7
306.8
438.6
5,373.1
664.0
4,709.1
960.5
3,748.7
1,382.1
295.7
1,086.5
324.0
446.9
5,326.4
690.3
4,636.0
969.7
3,666.4
1,375.8
277.3
1,098.5
339.0
444.0
6,967.0
7,214.4
7,283.0
7,366.0
7,426.5
7,440.2
7,495.6
7,471.2
7,435.4
7,444.2
7,526.1
7,485.2
710.2
772.7
768.6
759.7
759.8
777.8
782.7
800.8
812.4
807.4
774.9
800.8
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.
6,584.5
1,732.5
1,084.8
647.7
4,852.0
844.0'
2,808.9'
443.4'
2,365.4'
1,181.7'
1,183.7
714.1
308.9
405.2
104.5
380.5
231.8
253.2
654.8
6,814.2
1,757.5
1,099.7
657.7
5,056.8
897.2
2,935.8
447.0
2,488.8
1,206.4
1,282.4
716.7
306.2
410.5
110.3
396.7
244.6
264.3
708.9
6,847.0
1,759.2
1,101.7
657.6
5,087.8
907.0
2,951.5
446.6
2,505.0
1,213.0
1,292.0
716.7
296.9
419.8
110.9
401.6
255.7
256.6
711.3
6,933.6
1,806.8
1,122.7
684.1
5,126.8
922.4
2,977.8
444.9
2,532.8
1,226.9
1,305.9
720.1
299.6
420.5
103.9
402.7
258.2
259.8
724.8
7,021.5
1,827.8
1,123.4
704.3
5,193.8
938.1
3,015.8
444.7
2,571.1
1,246.5
1,324.6
728.0
306.5
421.5
106.5
405.3
239.0
254.8
734.8
7,036.4
1,815.3
1,123.0
692.4
5,221.1
939.2
3,049.8
446.2
2,603.6
1,266.1
1,337.6
721.9
304.8
417.1
96.1
414.1
242.6
251.6
740.0
7,062.9
1,814.5
1,122.5
692.0
5,248.4
942.3
3,086.4
452.0
2,634.4
1,283.1
1,351.3
714.5
306.8
407.7
92.5
412.8
236.8
253.2
754.2
7,098.9
1,818.7
1,127.0
691.7
5,280.2
952.6
3,095.9
448.7
2,647.2
1,282.6
1,364.6
724.3
311.8
412.5
95.8
411.7
228.1
236.7
751.3
7,081.3
1,812.7
1,118.9
693.8
5,268.6
949.7
3,099.3
448.1
2,651.2
1,290.3
1,360.8
716.6
307.0
409.6
94.6
408.4
227.4
230.4
745.0
7,090.8
1,807.0
1,119.0
687.9
5,283.8
957.7
3,095.2
448.3
2,646.9
1,281.0
1,365.9
723.2
311.8
411.4
94.8
412.9
223.0
233.6
746.2
7,107.7
1,824.7
1,130.1
694.7
5,283.0
952.4
3,094.5
448.8
2,645.7
1,279.6
1,366.1
729.2
315.4
413.8
96.4
410.5
230.1
224.6
761.6
7,113.5
1,829.1
1,137.1
692.0
5,284.4
951.5
3,094.2
449.1
2,645.2
1,278.6
1,366.5
729.6
314.0
415.5
96.5
412.6
228.4
251.1
753.1
7,656.7
7,966.1
8,003.8
8,109.6
8,182.9
8,203.4
8,240.0
8,247.5
8,216.8
8,226.1
8,256.6
8,278.9
5,020.7
655.5
4,365.1
774.6'
3,590.5'
1,284.7
300.9
983.8
257.8
389.0
5,209.5
640.2
4,569.2
872.1
3,697.2
1,342.1
309.5
1,032.7
276.6
399.8
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
1,397.6
315.4
1,082.1
294.5
426.2
5,332.4
618.8
4,713.6
960.0
3,753.5
1,372.3
299.2
1,073.1
327.8
430.7
5,323.8
637.1
4,686.7
962.1
3,724.6
1,365.5
286.8
1,078.7
326.7
440.7
5,319.1
571.1
4,748.0
963.3
3,784.7
1,354.5
288.0
1,066.4
331.4
427.5
5,339.3
617.2
4,722.1
959.4
3,762.7
1,351.2
280.9
1,070.3
306.2
438.6
5,305.4
665.1
4,640.3
958.6
3,681.7
1,377.7
294.8
1,083.0
328.0
451.1
5,317.7
706.6
4,611.1
966.6
3,644.5
1,372.9
280.1
1,092.8
345.2
450.1
6,952.1'
7,228.0
7,253.2
7,356.8
7,422.7
7,441.6
7,463.2
7,456.7
7,432.5
7,435.3
7,462.2
7,485.9
704.6'
738.1
750.6
752.8
760.2
761.8
776.8
790.8
784.3
790.8
794.4
793.0
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
Aug.r
2006
2006
2005
Feb.'
Mar.'
Apr.'
May'
June'
July'
Aug.
Aug. 9
Aug. 16
Aug. 23
Aug. 30
Seasonall 1 adjusted
Assets
1 Bank credit
2
Securities in bank credit
3
Treasury and Agency securities2 . .
4
Trading account
5
Investment account
6
Mortgage-backed
7
Other
8
Other securities
9
Trading account
10
Investment account
11
State and local government . .
12
Other
13 Loans and leases in bank credit3 . . . .
14
Commercial and industrial
15
Real estate
16
Revolving home equity
17
Other
18
Other residential
19
Commercial
20
Consumer
21
Security4
22
Federal funds sold to and
repurchase agreements
with broker-dealers
23
Other
24
State and local government
25
Agricultural
26
Federal funds sold to and
repurchase agreements with
others
27
All other loans
28
Lease-financing receivables
29 Interbank loans
30
Federal funds sold to and
repurchase agreements with
commercial banks
31
Other
32 Cash assets5
33 Other assets6
34 Total assets7
35
36
37
38
39
40
41
42
43
44
Liabilities
Deposits
Transaction
Non transaction
Large time
Other
Borrowings
From banks in the U.S
From others
Net due to related foreign offices
Other liabilities
45 Total liabilities
46 Residual (assets less liabilities)5
Footnotes appear on p. 21.
3,675.5
1,021.1
596.0
47.1
548.9
449.1
99.8
425.1
213.7
211.4
38.1
173.3
2,654.4
499.5
1,394.9
307.3
1,087.5
683.8
403.8
387.2
94.6
3,810.7
1,057.3
615.2
40.2
575.0
494.9
80.1
442.1
208.3
233.8
41.2
192.6
2,753.5
528.7
1,446.3
318.2
1,128.1
698.7
429.4
383.8
103.5
3,843.8
1,073.1
627.5
38.5
589.0
508.6
80.4
445.6
205.7
239.9
42.2
197.7
2,770.7
533.5
1,446.8
321.5
1,125.3
696.8
428.6
395.6
102.0
3,895.8
1,115.8
641.7
42.7
598.9
513.7
85.3
474.2
227.3
246.8
43.3
203.5
2,779.9
540.9
1,454.4
320.6
1,133.8
703.4
430.4
398.2
93.8
3,939.7
1,125.6
634.1
38.9
595.3
512.6
82.7
491.5
241.8
249.7
45.1
204.6
2,814.0
551.8
1,463.6
320.3
1,143.3
706.4
437.0
403.4
100.4
3,933.2
1,122.4
646.8
47.9
598.9
523.5
75.4
475.6
228.5
247.1
43.8
203.3
2,810.8
548.4
1,483.0
321.5
1,161.5
720.4
441.2
398.3
83.5
3,956.2
1,137.3
656.4
50.2
606.2
536.2
70.0
480.9
228.6
252.3
42.9
209.4
2,818.9
550.5
1,501.2
322.9
1,178.3
733.4
444.9
389.8
81.7
3,971.9
1,135.3
659.4
47.2
612.1
541.5
70.6
475.9
223.5
252.5
42.7
209.8
2,836.6
557.9
1,501.2
323.3
1,178.0
728.5
449.5
396.5
85.5
3,964.8
1,131.2
652.9
42.7
610.1
541.7
68.4
478.3
225.5
252.8
42.8
210.0
2,833.6
556.7
1,509.3
323.5
1,185.8
738.7
447.1
394.6
82.0
3,969.6
1,129.7
656.9
47.5
609.5
542.0
67.5
472.7
220.8
251.9
42.6
209.3
2,839.9
563.1
1,502.6
322.8
1,179.8
728.7
451.2
395.6
82.7
3,980.2
1,142.5
662.5
47.2
615.3
543.9
71.4
480.0
225.8
254.2
42.9
211.3
2,837.7
557.0
1,499.0
323.6
1,175.3
724.5
450.9
397.9
88.1
3,973.1
1,137.8
664.2
50.3
613.9
539.1
74.8
473.6
222.8
250.8
42.4
208.4
2,835.4
555.7
1,494.9
323.3
1,171.6
722.1
449.5
398.1
88.6
78.8
15.7
17.7
9.5
85.1
18.4
19.2
10.1
84.3
17.7
19.0
10.0
75.6
18.2
19.0
9.9
80.5
19.8
19.3
10.1
65.1
18.4
19.5
10.0
64.7
16.9
19.6
10.1
68.6
16.9
20.4
10.1
66.1
15.9
19.6
10.2
67.5
15.2
20.7
10.1
69.8
18.3
20.9
10.2
70.8
17.9
20.5
10.1
25.0
132.3
93.9
153.0
18.4
151.5
92.0
147.0
20.2
151.4
92.2
148.1
19.1
152.2
92.3
145.3
18.3
154.3
92.8
140.0
23.7
150.9
93.5
142.9
23.7
149.0
93.3
141.3
23.1
149.1
92.7
130.7
23.0
145.4
92.9
129.5
24.2
148.1
92.7
120.5
22.0
150.0
92.6
138.3
23.0
151.7
92.7
133.6
86.9
66.0
152.9
456.1
75.5
71.5
150.8
480.7
75.3
72.8
153.5
477.1
82.4
62.9
154.1
478.6
80.0
59.9
145.6
488.1
81.9
60.9
146.2
488.7
81.1
60.2
145.0
500.1
72.1
58.6
133.9
496.3
71.3
58.2
133.0
489.2
63.1
57.4
134.3
493.4
78.3
60.0
129.2
505.4
75.8
57.8
139.2
499.6
4,403.5
4,556.7
4,589.4
4,640.6
4,680.1
4,677.9
4,709.6
4,700.0
4,683.6
4,685.0
4,720.1
4,712.9
2,557.0
315.9
2,241.1
359.5
1,881.7
775.9
135.7
640.2
242.2
315.5
2,623.0
302.1
2,320.8
415.9
1,905.0
812.5
145.1
667.4
249.9
318.7
2,650.4
312.9
2,337.4
425.7
1,911.8
825.7
149.4
676.3
257.1
327.7
2,679.6
305.5
2,374.1
440.4
1,933.6
836.0
151.1
684.9
264.7
357.5
2,688.7
314.9
2,373.9
455.1
1,918.7
844.7
147.2
697.5
279.1
361.9
2,682.6
311.3
2,371.3
463.3
1,907.9
837.7
149.0
688.8
280.2
357.4
2,683.3
291.6
2,391.7
469.6
1,922.1
831.4
136.5
694.9
313.4
363.4
2,671.4
310.9
2,360.5
465.5
1,895.0
838.9
135.0
703.9
305.8
362.5
2,654.7
291.8
2,362.9
465.4
1,897.5
834.3
138.6
695.7
314.5
355.0
2,675.5
297.3
2,378.1
468.1
1,910.0
831.8
132.3
699.5
288.8
362.6
2,693.1
322.3
2,370.9
460.8
1,910.0
845.4
142.7
702.7
304.6
369.7
2,663.6
340.9
2,322.7
467.3
1,855.5
838.1
125.9
712.3
320.1
367.9
3,890.7
4,004.1
4,060.9
4,137.8
4,174.5
4,157.9
4,191.4
4,178.6
4,158.5
4,158.6
4,212.8
4,189.7
512.9
552.6
528.4
502.8
505.6
520.0
518.2
521.4
525.1
526.4
507.3
523.2
18
Federal Reserve Bulletin Statistical Supplement • September 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
Aug.r
2006
2006
2005
Feb.'
Mar.'
Apr.'
May'
June'
July'
Aug.
Aug. 9
Aug. 16
Aug. 23
Aug. 30
Not seasona lly adjusted
Assets
47 Bank credit
48
Securities in bank credit
49
Treasury and Agency securities2 .
50
Trading account
51
Investment account
52
Mortgage-backed
53
Other
54
Other securities
55
Trading account
56
Investment account
57
State and local government .
58
Other
59 Loans and leases in bank credit3 . . .
60
Commercial and industrial
61
Real estate
62
Revolving home equity
63
Other
64
Other residential
65
Commercial
66
Consumer
67
Credit cards and related plans .
68
Other
69
Security4
70
Federal funds sold to and
repurchase agreements
with broker-dealers
71
Other
72
State and local government
73
Agricultural
74
Federal funds sold to and
repurchase agreements
with others
75
All other loans
76
Lease-financing receivables
77 Interbank loans
78 Federal funds sold to and
repurchase agreements
with commercial banks
79
Other
80 Cash assets58
81 Other assets
82 Total assets7
83
84
85
86
87
88
89
90
91
92
Liabilities
Deposits
Transaction
Nontransaction
Large time
Other
Borrowings
From banks in the U.S
From others
Net due to related foreign offices
Other liabilities
93 Total liabilities
94 Residual (assets less liabilities)5
Footnotes appear on p. 21.
3,667.8
1,019.7
594.8
46.3
548.6
449.1
99.5
424.9
213.6
211.3
38.0
173.2
2,648.2
496.5
1,394.8
308.5
1,086.3
684.0
402.3
385.2
143.0
242.1
95.4
3,800.8
1,053.5
611.9
42.5
569.4
488.8
80.6
441.6
208.1
233.6
41.2
192.4
2,747.3
529.7
1,443.7
318.8
1,124.9
695.0
429.9
387.4
143.9
243.5
99.2
3,815.2
1,057.3
615.9
39.0
576.9
497.3
79.6
441.5
203.8
237.7
41.9
195.8
2,757.9
534.9
1,439.8
318.8
1,121.0
692.8
428.3
393.9
138.8
255.2
99.2
3,884.8
1,110.1
641.4
43.4
598.0
512.2
85.8
468.7
224.7
244.0
42.8
201.2
2,774.7
545.0
1,451.3
319.5
1,131.8
702.1
429.7
395.8
138.6
257.3
92.2
3,946.5
1,135.4
646.5
40.9
605.5
521.6
84.0
489.0
240.6
248.4
44.8
203.5
2,811.0
555.3
1,466.7
321.3
1,145.4
708.9
436.5
401.0
142.3
258.8
95.4
3,937.2
1,124.4
648.6
48.0
600.5
524.7
75.9
475.8
228.5
247.3
43.9
203.4
2,812.8
551.0
1,483.9
322.7
1,161.2
721.4
439.7
395.6
141.5
254.2
84.5
3,938.5
1,126.7
650.4
49.0
601.4
531.6
69.8
476.3
226.4
249.9
42.5
207.4
2,811.8
549.2
1,499.0
323.6
1,175.4
733.1
442.4
386.1
141.4
244.7
81.2
3,959.7
1,131.5
655.9
46.5
609.4
539.1
70.4
475.6
223.3
252.3
42.6
209.7
2,828.2
554.5
1,501.1
324.6
1,176.6
728.8
447.8
394.4
145.4
248.9
84.5
3,955.4
1,125.6
647.8
41.7
606.1
537.8
68.3
477.8
225.3
252.5
42.7
209.8
2,829.8
553.5
1,511.7
324.3
1,187.4
740.3
447.0
390.3
143.5
246.8
83.3
3,955.2
1,121.2
649.1
46.3
602.9
535.8
67.1
472.0
220.4
251.6
42.7
208.9
2,834.1
559.4
1,503.5
324.3
1,179.3
729.5
449.8
393.1
145.2
247.9
83.3
3,960.4
1,137.0
658.7
46.5
612.3
541.3
70.9
478.3
225.2
253.2
42.5
210.7
2,823.3
553.5
1,495.6
324.6
1,171.0
723.4
447.6
396.8
146.9
249.9
85.1
3,965.5
1,140.4
665.1
50.1
615.0
540.5
74.5
475.3
223.5
251.8
42.7
209.1
2,825.1
552.4
1,494.5
325.1
1,169.4
722.1
447.3
398.2
146.7
251.5
85.6
79.5
15.9
17.7
9.5
81.6
17.7
19.2
10.0
82.0
17.2
19.0
9.9
74.3
17.9
19.0
9.8
76.6
18.9
19.3
10.1
66.0
18.5
19.5
10.1
64.1
17.0
19.6
10.1
67.5
17.0
20.4
10.2
67.4
16.0
19.6
10.2
67.8
15.6
20.7
10.2
67.0
18.0
20.9
10.2
67.4
18.2
20.5
10.1
25.0
131.0
93.1
153.6
18.4
147.1
92.7
142.8
20.2
148.2
92.7
145.0
19.1
149.9
92.5
149.4
18.3
152.2
92.6
142.4
23.7
151.6
93.0
141.7
23.7
150.2
92.6
139.8
23.1
148.0
92.0
131.3
23.0
146.1
92.0
129.3
24.2
147.7
91.9
123.1
22.0
147.4
91.9
135.7
23.0
148.7
92.1
135.7
87.3
66.3
143.9
458.6
73.5
69.3
150.2
474.6
73.9
71.1
149.0
472.3
84.7
64.7
153.3
482.3
81.4
61.0
144.4
492.4
81.3
60.4
143.7
490.8
80.3
59.5
141.0
501.4
72.4
58.8
125.6
499.0
71.2
58.1
120.4
493.8
64.4
58.6
122.6
499.1
76.8
58.9
115.9
506.1
77.0
58.7
138.1
499.0
4,389.8
4,535.6
4,548.2
4,636.9
4,692.5
4,680.2
4,687.9
4,682.6
4,665.9
4,667.0
4,685.2
4,705.5
2,548.0
305.5
2,242.5
359.5
1,883.0
770.0
136.7
633.3
243.6
317.4
2,631.0
297.3
2,333.7
418.5
1,915.2
810.4
143.7
666.7
257.0
325.5
2,643.4
311.3
2,332.2
421.9
1,910.2
818.3
148.4
669.9
250.5
319.9
2,685.4
311.7
2,373.7
435.6
1,938.1
840.2
154.0
686.3
252.5
343.5
2,677.6
310.3
2,367.3
454.6
1,912.7
857.7
147.1
710.6
277.7
360.8
2,683.7
310.7
2,373.0
465.9
1,907.1
848.2
148.3
699.8
276.1
353.0
2,676.2
287.3
2,388.9
471.1
1,917.8
826.8
135.8
691.1
307.5
357.2
2,662.8
300.9
2,361.9
465.5
1,896.4
832.2
135.9
696.2
307.6
364.7
2,661.3
258.1
2,403.1
470.2
1,933.0
826.3
140.1
686.3
311.9
352.7
2,678.6
290.9
2,387.6
467.2
1,920.5
820.6
131.5
689.1
288.1
362.6
2,646.9
322.7
2,324.2
459.0
1,865.3
841.0
141.8
699.3
308.6
373.9
2,654.6
342.9
2,311.7
464.1
1,847.6
835.2
128.6
706.6
326.3
374.1
3,879.1
4,023.8
4,032.1
4,121.7
4,173.8
4,160.9
4,167.7
4,167.3
4,152.2
4,149.9
4,170.4
4,190.1
510.7
511.7
516.1
515.3
518.6
519.3
520.2
515.3
513.6
517.1
514.7
515.4
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
Aug.'
2006
2006
2005
Feb.'
Mar.'
Apr.'
May'
June'
July'
Aug.
Aug. 9
Aug. 16
Aug. 23
Aug. 30
Seasonall { adjusted
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
Assets
Bank credit
Securities in bank credit
Treasury and Agency securities2 . .
Other securities
Loans and leases in bank credit3 . . . .
Commercial and industrial
Real estate
Revolving home equity
Other
Consumer
Security4
Other loans and leases
Interbank loans
Cash assets5
Other assets6
16 Total assets7
17
18
19
20
21
22
23
24
25
26
Liabilities
Deposits
Transaction
Non transaction
Large time
Other
Borrowings
From banks in the U.S
From others
Net due to related foreign offices
Other liabilities
27 Total liabilities
28 Residual (assets less liabilities)5
2,918.1
714.4
491.6
222.8
2,203.7
349.5
1,413.4
134.7
1,278.7
329.6
9.1
102.1
80.2
111.1
196.2
3,017.1
706.0
489.9
216.1
2,311.1
367.4
1,492.4
128.5
1,363.9
328.1
11.1
112.0
99.1
114.6
234.4
3,044.0
700.5
484.4
216.1
2,343.5
371.3
1,520.9
128.5
1,392.5
326.7
11.4
113.1
104.8
112.2
239.0
3,061.0
694.5
479.2
215.3
2,366.4
375.4
1,537.2
125.8
1,411.5
328.6
11.6
113.6
106.5
110.0
242.4
3,082.4
692.7
477.4
215.4
2,389.7
380.2
1,554.4
123.4
1,430.9
330.2
11.3
113.6
102.3
111.8
242.3
3,110.4
690.9
474.3
216.6
2,419.5
386.5
1,575.4
123.2
1,452.2
330.3
11.7
115.7
106.7
108.8
249.2
3,134.9
689.5
473.7
215.7
2,445.4
393.2
1,593.7
128.3
1,465.4
332.0
11.5
115.0
102.9
112.6
252.8
3,141.0
688.7
472.7
216.1
2,452.3
400.3
1,594.3
124.0
1,470.3
330.6
11.2
115.9
99.1
112.8
252.3
3,132.1
688.6
472.6
216.0
2,443.5
398.2
1,589.1
123.7
1,465.5
329.8
11.1
115.3
101.1
113.5
251.2
3,138.1
687.9
472.0
215.9
2,450.1
400.5
1,591.5
123.7
1,467.8
331.0
11.4
115.8
101.1
113.7
247.1
3,147.2
689.5
473.1
216.3
2,457.7
401.2
1,597.9
123.8
1,474.1
330.9
11.5
116.2
98.0
113.7
255.5
3,145.5
689.6
473.0
216.7
2,455.9
401.7
1,596.5
123.7
1,472.8
330.6
11.0
116.2
95.1
110.7
254.2
3,272.0
3,431.9
3,466.6
3,486.3
3,504.8
3,541.0
3,568.8
3,570.7
3,563.7
3,565.5
3,579.7
3,570.9
2,475.9
352.8
2,123.1
415.0
1,708.0
514.7
164.2
350.6
14.1
71.6
2,584.7
347.2
2,237.5
453.6
1,784.0
531.7
165.8
366.0
19.6
74.4
2,597.5
351.4
2,246.1
460.4
1,785.7
530.7
166.8
363.9
18.5
75.4
2,608.6
343.0
2,265.6
462.0
1,803.6
525.7
163.7
362.0
18.9
75.0
2,618.0
350.5
2,267.5
471.9
1,795.6
540.6
167.9
372.7
19.2
74.2
2,641.3
340.5
2,300.8
483.0
1,817.8
549.4
167.1
382.3
18.4
73.2
2,664.9
333.7
2,331.1
488.9
1,842.2
545.5
163.4
382.1
20.4
73.5
2,664.2
338.9
2,325.3
496.6
1,828.7
533.3
150.8
382.5
19.0
76.0
2,654.5
330.8
2,323.6
493.1
1,830.6
528.1
148.0
380.2
19.5
74.8
2,661.0
333.4
2,327.6
492.2
1,835.4
530.6
149.4
381.2
18.1
76.0
2,680.0
341.7
2,338.3
499.6
1,838.6
536.7
153.0
383.7
19.4
77.1
2,662.7
349.4
2,313.3
502.4
1,810.9
537.7
151.4
386.2
19.0
76.1
3,076.3
3,210.4
3,222.1
3,228.2
3,252.0
3,282.3
3,304.2
3,292.6
3,276.9
3,285.6
3,313.3
3,295.4
195.7
221.5
244.5
258.1
252.7
258.7
264.6
278.2
286.8
279.9
266.4
275.5
Not seasonally adjusted
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
Assets
Bank credit
Securities in bank credit
Treasury and Agency securities2 . .
Other securities
Loans and leases in bank credit3 . . . .
Commercial and industrial
Real estate
Revolving home equity
Other
Other residential
Commercial
Consumer
Credit cards and related plans . .
Other
Security4
Other loans and leases
Interbank loans
Cash assets56
Other assets
48 Total assets7
49
50
51
52
53
54
55
56
57
58
Liabilities
Deposits
Transaction
Non transaction
Large time
Other
Borrowings
From banks in the U.S
From others
Net due to related foreign offices
Other liabilities
59 Total liabilities
60 Residual (assets less liabilities)5
Footnotes appear on p. 21.
2,916.7
712.8
490.0
222.8
2,203.9
347.6
1,414.1
134.9
1,279.1
497.7
781.4
328.9
165.9
163.0
9.2
104.2
78.2
109.4
196.2
3,013.4
703.9
487.8
216.1
2,309.5
367.6
1,492.1
128.2
1,363.9
511.4
852.5
329.4
162.3
167.0
11.1
109.3
101.8
114.1
234.4
3,031.7
701.9
485.8
216.1
2,329.9
372.1
1,511.7
127.8
1,383.9
520.2
863.8
322.8
158.2
164.6
11.7
111.6
110.6
107.6
239.0
3,048.8
696.7
481.3
215.3
2,352.1
377.4
1,526.5
125.4
1,401.0
524.9
876.1
324.2
161.0
163.2
11.6
112.4
108.8
106.5
242.4
3,075.0
692.3
477.0
215.4
2,382.7
382.8
1,549.1
123.5
1,425.7
537.6
888.1
327.0
164.3
162.7
11.1
112.7
96.6
110.4
242.3
3,099.2
691.0
474.4
216.6
2,408.3
388.3
1,566.0
123.5
1,442.5
544.6
897.9
326.3
163.4
162.9
11.6
116.2
100.9
107.9
249.2
3,124.4
687.8
472.1
215.7
2,436.6
393.1
1,587.3
128.4
1,458.9
550.0
908.9
328.4
165.4
163.0
11.3
116.4
97.0
112.2
252.8
3,139.2
687.2
471.1
216.1
2,452.0
398.0
1,594.8
124.2
1,470.6
553.8
916.8
329.9
166.3
163.6
11.2
118.0
96.8
111.1
252.3
3,126.0
687.1
471.1
216.0
2,438.9
396.2
1,587.6
123.8
1,463.8
550.0
913.8
326.3
163.5
162.8
11.3
117.5
98.1
110.0
251.2
3,135.5
685.8
469.9
215.9
2,449.7
398.3
1,591.7
124.1
1,467.7
551.5
916.2
330.1
166.6
163.5
11.5
118.1
100.0
111.0
247.1
3,147.3
687.7
471.4
216.3
2,459.6
399.0
1,598.9
124.1
1,474.8
556.2
918.5
332.4
168.5
163.9
11.3
118.1
94.4
108.8
255.5
3,148.0
688.7
472.0
216.7
2,459.3
399.1
1,599.7
123.9
1,475.8
556.5
919.2
331.4
167.3
164.1
10.9
118.2
92.7
113.1
254.2
3,266.9
3,430.5
3,455.5
3,472.7
3,490.4
3,523.2
3,552.1
3,564.9
3,551.0
3,559.1
3,571.4
3,573.3
2,472.6
350.0
2,122.6
415.0
1,707.6
514.7
164.2
350.6
14.1
71.6
2,578.5
342.9
2,235.6
453.6
1,782.0
531.7
165.8
366.0
19.6
74.4
2,596.4
349.1
2,247.3
460.4
1,786.9
530.7
166.8
363.9
18.5
75.4
2,615.6
344.8
2,270.8
462.0
1,808.8
525.7
163.7
362.0
18.9
75.0
2,614.9
346.8
2,268.1
471.9
1,796.2
540.6
167.9
372.7
19.2
74.2
2,639.7
339.0
2,300.7
483.0
1,817.7
549.4
167.1
382.3
18.4
73.2
2,656.2
331.5
2,324.7
488.9
1,835.7
545.5
163.4
382.1
20.4
73.5
2,661.0
336.2
2,324.8
496.6
1,828.2
533.3
150.8
382.5
19.0
76.0
2,657.8
313.0
2,344.8
493.1
1,851.7
528.1
148.0
380.2
19.5
74.8
2,660.7
326.2
2,334.5
492.2
1,842.3
530.6
149.4
381.2
18.1
76.0
2,658.5
342.4
2,316.1
499.6
1,816.4
536.7
153.0
383.7
19.4
77.1
2,663.1
363.7
2,299.4
502.4
1,797.0
537.7
151.4
386.2
19.0
76.1
3,073.1
3,204.2
3,221.0
3,235.2
3,248.9
3,280.7
3,295.5
3,289.4
3,280.3
3,285.4
3,291.8
3,295.8
193.9
226.3
234.5
237.5
241.5
242.5
256.5
275.5
270.7
273.7
279.6
277.5
20
Federal Reserve Bulletin Statistical Supplement • September 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
Aug.
2006
2006
2005
Feb.'
Mar.'
Apr.'
May'
June'
July'
Aug.
Aug. 9
Aug. 16
Aug. 23
Aug. 30
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
766.3
331.8'
86.0
245.7
434.5P
162.4'
17.0
141.7
113.4
48.5
61.2
37.5
819.0
343.0
77.9
265.0
476.1
174.2
20.8
148.9
132.2
43.6
51.2
38.8
829.6
344.4
78.3
266.1
485.2
176.3
21.3
155.9
131.7
47.6
52.0
37.0
848.5
356.9
77.2
279.7
491.6
181.8
22.1
155.5
132.3
47.9
49.2
40.1
898.7
383.2
80.1
303.0
515.5
186.6
22.7
169.5
136.8
45.1
49.3
49.2
889.1
376.1
79.5
296.6
513.0
192.0
22.2
164.1
134.7
48.5
51.7
46.2
892.5
374.1
80.5
293.6
518.4
194.5
22.7
163.7
137.5
46.5
53.1
45.9
919.9
384.4
84.4
300.0
535.5
207.5
22.4
167.1
138.4
51.3
52.2
49.3
909.3
383.9
83.1
300.7
525.4
203.7
22.6
162.4
136.7
47.7
51.9
48.8
921.3
383.3
85.3
298.0
538.0
208.2
22.5
168.5
138.8
53.0
53.7
47.8
919.3
384.5
82.9
301.6
534.8
209.4
22.2
164.7
138.6
56.1
50.9
47.4
931.3
386.5
86.6
299.8
544.8
209.8
22.2
173.6
139.1
49.9
51.8
53.9
913.1
952.0
965.7
985.2
1,041.7
1,035.0
1,037.5
1,072.0
1,057.1
1,075.3
1,073.2
1,086.4
614.9'
12.4
602.5'
387.9'
53.2
334.7'
-193.4'
97.2
619.5
13.3
606.2
439.3
60.2
379.0
-209.4
101.4
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
678.0
11.8
666.1
444.6
50.7
393.9
-216.1
119.0
680.0
11.9
668.1
434.0
49.1
384.9
-197.2
115.8
702.4
11.4
691.1
436.0
47.4
388.6
-196.1
123.6
670.7
12.0
658.6
434.7
51.1
383.6
-170.0
122.2
710.5
12.5
697.9
438.6
48.4
390.2
-196.6
118.9
716.7
11.0
705.7
429.6
42.3
387.4
-206.6
117.3
714.5
10.0
704.5
441.3
46.7
394.6
-213.4
135.2
906.7
950.8
963.8
982.7
1,030.3
1,025.4
1,032.6
1,065.8
1,057.6
1,071.4
1,057.0
1,077.7
6.4
1.3
1.9
2.5
11.5
9.6
4.9
6.3
-.5
3.9
16.2
8.7
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.
758.6'
331.8'
86.0
26.7
59.4
245.7
137.1'
108.7
426.9'
161.9'
17.0
133.2
114.7
48.5
61.6
37.2
821.3
343.0
77.9
26.6
51.3
265.0
157.1
107.9
478.3
176.5
20.8
151.6
129.5
43.6
50.4
39.7
832.5
344.4
78.3
28.1
50.2
266.1
157.1
109.0
488.1
177.8
21.3
157.8
131.3
47.6
50.4
36.9
855.2
356.9
77.2
24.9
52.3
279.7
170.4
109.3
498.3
182.9
22.1
159.6
133.7
47.9
48.4
39.2
895.2
383.2
80.1
26.9
53.3
303.0
192.1
111.0
512.1
186.6
22.7
165.3
137.6
45.1
48.6
49.7
888.9
376.1
79.5
25.7
53.8
296.6
183.1
113.6
512.8
191.6
22.2
162.7
136.3
48.5
51.0
46.2
888.8
374.1
80.5
26.2
54.4
293.6
180.6
113.0
514.6
193.9
22.7
160.5
137.5
46.5
52.6
45.1
912.0
384.4
84.4
27.6
56.8
300.0
183.6
116.4
527.5
206.9
22.4
160.9
137.3
51.3
52.5
48.8
903.4
383.9
83.1
27.8
55.3
300.7
183.5
117.2
519.5
203.1
22.6
158.1
135.7
47.7
51.8
51.1
911.0
383.3
85.3
28.1
57.2
298.0
182.6
115.4
527.7
207.8
22.5
160.3
137.1
53.0
54.2
48.3
909.7
384.5
82.9
25.7
57.2
301.6
184.5
117.0
525.2
209.1
22.2
156.8
137.2
56.1
51.2
44.9
923.8
386.5
86.6
28.8
57.9
299.8
184.1
115.7
537.4
208.9
22.2
167.8
138.5
49.9
52.5
51.5
905.5'
954.6
966.9
990.2
1,038.2
1,034.2
1,032.4
1,064.0
1,053.5
1,066.0
1,061.4
1,077.2
612.2'
12.2
599.9'
387.9'
53.2
334.7'
-194.1'
96.7
620.7
13.7
607.0
439.3
60.2
379.0
-209.5
101.3
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
688.7
11.6
677.0
444.6
50.7
393.9
-218.9
117.0
681.4
11.6
669.8
434.0
49.1
384.9
-199.9
114.0
699.3
11.2
688.1
436.0
47.4
388.6
-197.1
122.9
665.5
11.7
653.8
434.7
51.1
383.6
-171.1
121.5
703.2
12.4
690.9
438.6
48.4
390.2
-197.3
118.5
716.9
10.7
706.1
429.6
42.3
387.4
-205.8
117.8
713.9
10.0
703.8
441.3
46.7
394.6
-215.0
134.1
902.7'
951.7
964.0
987.3
1,035.3
1,031.3
1,029.5
1,061.1
1,050.6
1,063.1
1,058.5
1,074.3
2.9
2.9
2.9
2.9
2.9
2.9
2.9
2.9
2.9
2.9
2.9
2.8
Commercial Banking Institutions—Assets and Liabilities
1.26
COMMERCIAL BANKS IN THE UNITED STATES
F. Memo items
21
Assets and Liabilities' —Continued
Billions of dollars
Wednesday figures
Monthly averages
Account
2005
Aug.
2006
2006
Feb.'
Mar.'
Apr.
May'
June
July'
Aug.
Aug. 9
Aug. 16
Aug. 23
Aug. 30
Not seasonally adjusted
MEMO
1
2
3
4
5
6
7
8
9
10
Large domestically chartered banks,
adjusted for mergers
Revaluation gains on off-balance-sheet
items9
Revaluation losses on off-balancesheet items9
Mortgage-backed securities10
Pass-through
CMO, REMIC, and other
Net unrealized gains (losses) on
available-for-sale securities"
Securitized consumer loans12
Credit cards and related plans
Other
Securitized business loans12
90.0
93.7
89.7
108.5
123.4
111.7
107.3
105.1
105.4
102.8
105.8
107.6
79.7
544.3
416.9
127.4
82.5
578.5
447.3
131.1
79.4
588.1
457.3
130.8
96.6
603.6
473.8
129.8
110.6
615.0
482.9
132.0
99.6
618.9
484.6
134.3
96.1
625.4
491.1
134.3
92.3
634.1
500.7
133.3
94.6
634.0
499.0
135.0
90.9
630.4
497.7
132.8
92.5
636.4
503.2
133.2
92.3
634.2
502.2
132.0
-1.6
151.3'
130.7
20.6'
4.0
-11.1
164.8
135.4
29.4
3.0
-14.1
166.5
136.8
29.7
3.0
-19.6'
166.8
137.9
28.9
3.0
-21.1
165.8
137.5
28.4
3.0
-22.1'
165.8
136.2
29.6
2.9
-20.8
166.6
134.6
32.0
2.7
-14.3
164.7
133.1
31.5
2.5
-15.4
164.7
133.0
31.7
2.5
-14.4
164.3
132.7
31.6
2.5
-14.0
164.2
132.7
31.5
2.5
-13.1
165.2
133.9
31.3
2.5
337.4
213.9'
207.6'
6.3'
335.2
206.3
200.1
6.2
331.5
205.9
199.7
6.2
326.9'
204.7'
198.6'
6.2'
326.4
203.2
197.2
6.0
326.4'
208.6'
202.7'
5.9'
324.8
209.0
203.3
5.6
326.9
211.3
205.8
5.5
325.9
212.3
206.9
5.4
326.6
211.9
206.5
5.4
327.3
209.4
201.2
8.1
328.3
211.6
208.1
3.6
56.8
60.6
58.1
64.4
78.2
70.7'
67.0
69.6
68.0
69.1
68.7
73.1
62.2
64.1
62.0
68.2
82.8
75.8'
72.4
75.7
74.6
75.1
74.6
79.1
Small domestically chartered
commercial banks, adjusted for
yyi ^v^ers
10
11 Mortgage-backed securities12
12 Securitized consumer loans
13
Credit cards and related plans
14
Other
Foreign-related institutions
15 Revaluation gains on off-balancesheet items9
16 Revaluation losses on off-balancesheet items9
NOTES: Tables 1.26, 1.27, and 1.28 have been revised to reflect changes in the Board's H.8
statistical release, "Assets and Liabilities of Commercial Banks in the United States," which
is available at www.federalreserve.gov/releases. Table 1.27, "Assets and Liabilities of Large
Weekly Reporting Commercial Banks," and table 1.28, "Large Weekly Reporting U.S.
Branches and Agencies of Foreign Banks," are no longer being published in the Statistical
Supplement. Instead, abbreviated balance sheets for both large and small domestically
chartered banks have been included in table 1.26, parts C and D. Data are both mergeradjusted and break-adjusted. In addition, data from large weekly reporting U.S. branches and
agencies of foreign banks have been replaced by balance sheet estimates of all foreign-related
institutions and are included in table 1.26, part E. These data are break-adjusted.
1. Covers the following types of institutions in the fifty states and the District of Columbia:
domestically chartered commercial banks that submit a weekly report of condition (large
domestic); other domestically chartered commercial banks (small domestic); branches and
agencies of foreign banks, and Edge Act and Agreement corporations (foreign-related
institutions). Excludes international banking facilities. Data are Wednesday values or pro rata
averages of Wednesday values. Large domestic banks constitute a universe; data for small
domestic banks and foreign-related institutions are estimates based on weekly samples and on
quarter-end condition reports. Data are adjusted for breaks caused by reelassifications of
assets and liabilities.
The data for large and small domestic banks presented on pp. 17-19 are adjusted to remove
the estimated effects of mergers between these two groups. The adjustment for mergers
changes past levels to make them comparable with current levels. Estimated quantities of
balance sheet items acquired in mergers are removed from past data for the bank group that
contained the acquired bank and put into past data for the group containing the acquiring
bank. Balance sheet data for acquired banks are obtained from Call Reports, and a ratio
procedure is used to adjust past levels.
2. Treasury securities are liabilities of the U.S. Treasury. Agency securities are liabilities of
U.S. government agencies and U.S. government-sponsored enterprises.
3. Excludes federal funds sold to, reverse RPs with, and loans made to commercial banks
in the United States, all of which are included in "Interbank loans."
4. Consists of reverse RPs with brokers and dealers and loans to purchase and carry
securities.
5. Includes vault cash, cash items in process of collection, balances due from depository
institutions, and balances due from Federal Reserve Banks.
6. Excludes the due-from position with related foreign offices, which is included in "Net
due to related foreign offices."
7. Excludes unearned income, reserves for losses on loans and leases, and reserves for
transfer risk. Loans are reported gross of these items.
8. This balancing item is not intended as a measure of equity capital for use in capital
adequacy analysis. On a seasonally adjusted basis, this item reflects any differences in the
seasonal patterns estimated for total assets and total liabilities.
9. Fair value of derivative contracts (interest rate, foreign exchange rate, other commodity
and equity contracts) in a gain/loss position, as determined under FASB Interpretation No. 39.
The fair market value of derivative contracts in a gain position is included in "Other
securities, trading account." The fair value of derivative contracts in a loss position is
included in "Other liabilities."
10. Includes mortgage-backed securities issued by U.S. government agencies, U.S.
government-sponsored enterprises, and private entities.
11. Difference between fair value and historical cost for securities classified as availablefor-sale under FASB Statement No. 115. Data are reported net of tax effects. Data shown are
restated to include an estimate of these tax effects.
12. Total amount outstanding.
22
1.32
Federal Reserve Bulletin Statistical Supplement • September 2006
COMMERCIAL PAPER OUTSTANDING
Millions of dollars, seasonally adjusted, end of period
Year ending December
2005
2006
Item
2001
2003
2004
2005
Dec.
Jan.
Feb.
Mar.
Apr.
May
1,442,842
1,341,226
1,260,745
1,375,717
1,631,009
1,631,009
1,672,657
1,687,510
1,705,078
1,734,611
1,765,365
563,428
216,448
1 All issuers
2 Financial companies'
3 Nonfinancial companies2
2002
522,863
147,689
519,731
103,982
595,249
119,727
667,321
132,207
667,321
132,207
681,727
140,561
690,883
134,575
692,513
134,245
699,320
140,406
718,125
137,141
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
31
28
10
29
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
Period
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
7.50
7.75
8.00
8.25
1. The prime rate is one of several base rates that banks use to price short-term business
loans. The table shows the date on which a new rate came to be the predominant one quoted
by a majority of the twenty-five largest banks by asset size, based on the most recent Call
2004—Jan
Feb
Mar
Apr
May
June
July
Aug
Sept
Oct
Nov
Dec
Average
rate
5.50
5.75
6.00
6.25
6.50
6.75
7.00
7.25
2006—Jan.
Mar.
May
June
Period
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
7.26
7.50
7.53
7.75
7.93
8.02
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
Mar.
Apr.
May
June
June 2
June 9
June 16
June 23
June 30
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
4.59
5.53
4.79
5.75
4.94
5.93
4.99
6.02
5.01
6.00
4.99
6.00
5.00
6.00
4.95
6.00
5.00
6.00
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
4.61
4.65
4.76
4.80
4.81
4.87
4.95
4.94
5.01
5.12
5.13
5.29
4.99
4.98
n.a.
5.02
5.02
n.a.
5.10
5.10
n.a.
5.19
5.20
n.a.
5.24
5.24
5.29
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
4.66
4.73
4.79
4.81
4.90
4.94
4.99
5.02
5.05
5.16
5.21
5.25
5.01
5.07
5.12
5.07
5.12
5.15
5.13
5.20
5.23
5.23
5.27
5.32
5.27
5.31
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
4.72
4.88
5.01
4.88
5.03
5.17
5.04
5.15
5.25
5.22
5.35
5.46
5.08
5.22
5.31
5.12
5.24
5.34
5.20
5.33
5.43
5.28
5.41
5.53
5.31
5.46
5.57
12 Eurodollar deposits, 3-month3>s
1.14
1.55
3.51
4.91
5.06
5.18
5.38
5.25
5.27
5.36
5.44
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
4.47
4.51
4.62
4.52
4.60
4.72
4.61
4.72
4.82
4.62
4.79
4.97
4.67
4.72
4.86
4.70
4.74
4.87
4.59
4.76
4.96
4.55
4.81
5.05
4.62
4.89
5.08
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
4.77
4.73
4.74
4.72
4.71
4.72
4.91
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
5.03
5.00
4.99
4.99
5.01
5.08
5.32
5.04
5.00
4.97
4.95
4.96
5.01
5.21
5.13
5.09
5.04
5.02
5.02
5.05
5.23
5.24
5.22
5.18
5.16
5.16
5.18
5.35
5.27
5.23
5.21
5.18
5.19
5.22
5.38
4.52
5.20
4.75
4.50
5.09
4.68
4.28
4.86
4.40
4.29
4.78
4.44
4.36
4.98
4.58
4.38
5.02
4.59
4.35
4.96
4.60
4.32
4.92
4.57
4.29
4.91
4.48
4.32
4.94
4.58
n.a.
n.a.
4.68
4.45
5.07
4.71
6.24
6.00
5.57
5.90
6.20
6.31
6.29
6.29
6.20
6.23
6.36
6.40
5.66
6.14
6.38
6.76
5.63
5.91
6.08
6.39
5.23
5.37
5.59
6.06
5.53
5.68
5.98
6.41
5.84
6.00
6.27
6.68
5.95
6.13
6.40
6.75
5.89
6.11
6.39
6.78
5.91
6.12
6.38
6.75
5.81
6.02
6.29
6.67
5.83
6.05
6.32
6.71
5.94
6.17
6.45
6.86
5.98
6.21
6.49
6.90
1.72
1.66
1.89
1.79
1.78
1.80
1.88
1.83
1.83
1.88
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/
default.htm. The rate reported is that for the Federal Reserve Bank of New York. Historical
series for the rate on adjustment credit is available at www.federalreserve.gov/releases/hl5/
data.htm.
5. Quoted on a discount basis.
6. Interest rates interpolated from data on certain commercial paper trades settled by the
Depository Trust Company. The trades represent sales of commercial paper by dealers or
direct issuers to investors (that is, the offer side). See the Board's Commercial Paper
webpages (www.federalreserve.gov/releases/cp) for more information.
7. An average of dealer offering rates on nationally traded certificates of deposit.
8. Bid rates for Eurodollar deposits collected around 9:30 a.m. Eastern time. Data are for
indication purposes only.
9. Yields on actively traded issues adjusted to constant maturities.
10. General obligation bonds based on Thursday figures; Moody's Investors Service.
11. State and local government general obligation bonds maturing in twenty years are used
in compiling this index. The twenty-bond index has a rating roughly equivalent to Moody's
Al rating. Based on Thursday figures.
12. Daily figures are averages of Aaa, Aa, A, and Baa yields from Moody's Investors
Service. Based on yields to maturity on selected long-term bonds.
13. Effective December 7, 2001, the Moody's Aaa yield includes yields only for industrial
firms. Prior to December 7, 2001, the Aaa yield represented both utilities and industrial.
14. Standard & Poor's corporate series. Common stock ratio is based on the 500 stocks in
the price index.
SOURCE: U.S. Department of the Treasury.
24
Federal Reserve Bulletin Statistical Supplement • September 2006
1.36
STOCK MARKET
Selected Statistics
2006
2005
Indicator
2003
2004
2005
Nov.
Jan.
Dec.
Feb.
Mar.
Apr.
May
June
July
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.
7,585.75
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.
6 Standard & Poor's Corporation
(1941^3 - 10)'
965.23
1,130.65
1,207.23
1,237.37
1,262.07
1,278.72
1,276.65
1,293.74
1,302.18
1,290.00
1,253.12
1,260.24
7 American Stock Exchange
(Aug. 31, 1973 = 50)2
943.44
1,260.02
1,567.52
1,694.64
1,752.65
1,815.91
1,828.06
1,902.69
1,976.03
1,968.30
1,881.59
1,924.93
3
4
5
Transportation
Utility
Finance
Volume of trading (thousands of shares)
1 361 043 1 403 376 1 542 724 1 576 379 1 508 647 1 808 726 1 660 932 1,728,333 2,285,601 2,510,157 2,501,759 2,351,792
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
219,020
221,660
232,190
222,780
236,670
241,540
230,540
225,780
231,490
92,560
84,920
117,850
93,580
119,710
88,730
110,610
78,330
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
Margin requirements (percent of market value and effective date)6
Mar. 11, 1968
14 Convertible bonds
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
June 30
1 Federal debt outstanding
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'
7,379.0
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
5 Agency securities
6
Held by public
7
Held by agencies
Dec. 31
7,274.3
4.218.7
3,055.6
....
2 Public debt securities
3
Held by public
4
Held by agencies
Sept. 30
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
Q3
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
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
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
1,003.2
2,157.1
14.3
928.8
1,905.7
564.3
176.2
3,406.9
149.2
9.7
9.7
.0
192.2
3,007.0
16.0
539.5
245.9
3,618.8
160.7
5.9
5.9
.0
191.7
3,230.6
17.6
963.9
2,326.8
516.6
328.7
3,986.5
235.6
3.8
3.8
.0
191.2
3,506.6
53.4
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
3,466.9
744.2
3,970.6
117.2
252.2
172.2
454.6
3,502.0
758.5
4,114.0
115.0
250.8
176.8
462.8
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
205.1
306.3
179.9
126.4
2,041.1
455.8
205.9
310.9
182.2
128.6
2,082.3'
509.4
153.4
11.2
11.2
.0
184.8
2,806.9
1. The U.S. Treasury first issued inflation-indexed securities during the first quarter of
1997.
2. Includes (not shown separately) securities issued to the Rural Electrification Administration, depository bonds, retirement plan bonds, and individual retirement bonds.
3. Nonmarketable series denominated in dollars, and series denominated in foreign currency held by foreigners.
4. Held almost entirely by U.S. Treasury and other federal agencies and trust funds.
5. Data for Federal Reserve Banks and U.S. government agencies and trust funds are actual
holdings; data for other groups are Treasury estimates.
6. U.S. Treasury securities bought outright by Federal Reserve Banks, see Bulletin table
1.18.
7. In March 1996, in a redefinition of series, fully defeased debt backed by nonmarketable
federal securities was removed from "Other miscellaneous investors" and added to "State
and local treasuries." The data shown here have been revised accordingly.
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
3,551.2
19.5
523.1
372.8
4,166.0
242.0
3.0
3.0
.0
191.0
3,680.2
120.8
3,626.6
766.4
4,030.8
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 • September 2006
1.42
U.S. GOVERNMENT SECURITIES DEALERS
Transactions1
Millions of dollars, daily averages
2006
2006, week end
Item
Mar.
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
May 3
May 10
May 17
May 24
May 31
June 7
June 14
June 21
June 28
51,445
46,670
42,416
40,872
39,075
46,214
38,809
47,512
48,005
37,493
43,508
43,369
212,149
187,621
245,729
266,897
214,127
247,744
269,239
237,450
239,691
185,715
176,676
228,202
135,674
115,331
126,490
145,789
104,425
106,377
135,903
152,972
146,398
120,499
90,694
113,320
119,256
30,660
6,119
117,385
30,049
9,164
131,419
29,525
7,094
122,939
29,204
10,595
106,252
28,158
6,172
169,331
31,718
7,761
144,948
33,136
5,913
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
55,567
56,669
59,473
62,737
51,251
61,923
53,771
71,370
58,608
55,144
61,551
63,741
6,955
8,450
9,503
7,624
7,913
12,249
11,164
7,389
9,632
10,865
5,855
5,923
5,278
3,925
3,254
3,501
3,342
3,465
2,722
3,362
11,369
3,456
5,643
3,727
1,877
331
3,628
358
2,878
334
4,141
364
2,736
234
3,340
318
2,429
267
2,090
538
3,289
273
5,393
137
2,938
407
4,050
305
272,801
245,184
217,762
252,849
322,700
194,689
160,844
160,265
295,028
236,975
161,019
165,097
188,676
24,581
198,669
23,493
221,935
23,389
212,206
21,866
242,121
22,388
241,596
26,864
212,542
24,877
191,165
19,578
201,551
27,977
198,694
20,498
222,783
22,939
231,969
23,607
241,181
225,475
263,421
272,114
230,791
269,909
288,177
258,634
263,947
233,809
193,311
225,395
5,074
65,827
514
5,666
60,182
562
5,898
51,989
413
5,716
61,615
412
5,946
80,230
436
6,273
49,265
465
6,041
34,890
386
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
314,123
280,745
319,252
344,182
267,418
339,236
339,771
314,718
332,309
276,510
245,551
282,308
64,933
206,974
212,743
67,364
185,002
221,600
69,544
165,774
244,912
72,652
191,234
233,660
59,531
242,470
264,073
75,022
145,424
267,995
64,311
125,953
237,033
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
NOTE: Major changes in the report form filed by primary dealers induced a break in the
dealer data series as of the week ending July 4, 2001. Current weekly data may be found at the
Federal Reserve Bank of New York website (www.ny.frb.org/markets/primarydealers.html)
under the Primary Dealer heading.
1. The figures represent purchases and sales in the market by the primary U.S. government
securities dealers reporting to the Federal Reserve Bank of New York. Outright transactions
include all U.S. government, federal agency, government-sponsored enterprise, mortgage-
backed, and corporate securities scheduled for immediate and forward delivery, as well as all
U.S. government securities traded on a when-issued basis between the announcement and
issue date. Data do not include transactions under repurchase and reverse repurchase (resale)
agreements. Averages are based on the number of trading days in the week.
2. Outright Treasury inflation-protected securities (TIPS) transactions are reported at
principal value, excluding accrued interest, where principal value reflects the original issuance par amount (unadjusted for inflation) times the price times the index ratio.
Federal Finance
1.43
U.S. GOVERNMENT SECURITIES DEALERS
27
Positions and Financing
Millions of dollars
2006, week ending
2006
Item, by type of security
Mar.
Apr.
May
May 3
May 10
May 17
May 24
May 31
June 7
June 14
June 21
Net outright posit ons2
1 U.S. Treasury bills
Treasury coupon securities by maturity
Three years or less
More than three years but less than
or equal to six years
4
More than six but less than
or equal to eleven years
5
More than eleven
6
Inflation-protected
2
3
7
8
9
10
11
Federal agency and governmentsponsored enterprises
Discount notes
Coupon securities, by maturity
Three years or less
More than three years but less than
or equal to six years
More than six but less than
or equal to eleven years
More than eleven
12 Mortgage-backed
Corporate securities
13
One year or less
14
More than one year
24,677
13,797
-14,690
-8,271
-12,142
-21,576
-17,347
-10,447
-7,704
-18,709
-28,422
-44,588
-36,092
-41,969
-42,093
-41,163
-43,461
-38,798
-44,400
-36,458
-32,639
-34,409
-43,369
-42,231
-42,707
-38,338
-45,152
-44,212
-45,458
-37,880
-35,223
-33,041
-38,976
-38,157
-13,065
714
-41,367
-13,029
1,547
-37,581
-16,693
1,653
-39,780
-15,157
1,939
-40,448
-14,795
1,741
-38,328
-17,702
1,436
-34,564
-17,483
2,070
-36,042
-17,450
1,241
-40,183
-14,746
1,670
-38,170
-15,891
1,226
-38,111
-18,020
571
45,384
46,694
52,218
46,898
51,063
51,104
56,188
52,795
51,305
61,027
43,619
38,264
38,678
38,257
37,859
37,583
35,663
40,685
39,269
39,584
45,134
42,772
15,842
14,339
12,673
12,193
12,139
13,172
13,651
11,934
14,480
12,898
13,840
-128
5,852
1,687
6,596
3,723
7,027
2,641
6,918
3,534
6,913
3,533
6,972
4,756
7,048
3,531
7,220
3,747
7,578
4,777
7,699
4,394
7,228
24,950
26,344
37,865
34,762
36,448
40,734
35,605
40,001
32,697
35,970
38,913
38,623
140,670
44,474
149,732
38,812
159,780
43,056
150,818
42,956
159,658
35,048
162,015
37,732
159,956
37,693
161,334
48,046
132,368
41,842
130,596
39,478
134,802
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
1 199 134
1,285,065
1 196 001
1,085,022
1 303 786
1,132,988
1 305 788
1,114,689
1 320 716
1,154,305
1 325 796
1,084,338
1 299 445
1,161,391
1 268 330
1,139,762
1 291 107
1,149,035
1 274 764
1,193,209
1 280 638
1,191,915
161,713
241,161
169,260
233,883
190,257
224,086
175,878
227,529
200,691
205,213
197,620
220,557
185,924
228,974
182,955
240,124
191,262
242,066
193,801
248,634
201,662
243,869
97,763
394,912
101,886
389,694
117,786
384,359
109,127
365,052
134,578
373,927
96,168
387,008
129,814
393,023
114,294
391,754
132,117
384,275
102,136
404,301
141,031
393,224
112,725
94,016
115,649
97,219
111,356
95,587
112,612
93,929
114,299
94,063
111,431
95,955
111,178
95,347
107,977
97,695
109,763
91,848
112,070
91,497
114,293
89,938
757,925
1,646,126
720,323
1,463,741
835,023
1,487,485
814,868
1,468,356
831,103
1,530,108
831,268
1,443,473
839,816
1,521,881
846,544
1,462,676
829,992
1,520,701
800,428
1,591,008
845,480
1,581,410
1 157 255
1,136,819
1 137 202
955,118
1 213 054
999,245
1 214 496
1,003,827
1 190 509
1,067,604
1 255 817
937,384
1 202 462
1,023,149
1 202 811
966,880
1 213 627
1,005,172
1 217 597
1,049,025
1 221 124
1,037,861
310,775
171,152
320,020
163,654
321,146
173,310
318,722
167,018
323,270
168,608
315,281
176,874
317,088
176,990
329,983
173,465
328,730
191,780
337,119
192,100
336,493
175,672
547,043
240,920
508,618
259,540
517,720
249,114
465,670
261,194
526,272
238,263
502,480
252,471
539,863
257,038
524,570
243,507
530,701
250,225
518,174
229,110
530,980
237,094
256,884
56,839
269,170
55,502
266,573
55,916
265,016
53,806
273,484
54,236
263,813
55,350
267,339
56,847
262,323
58,134
264,208
57,075
269,368
54,643
269,632
52,665
2,013,599
1,519,023
1,984,952
1,352,516
2,063,970
1,391,241
2,011,906
1,403,086
2,059,557
1,443,271
2,082,366
1,335,755
2,066,425
1,426,818
2,069,844
1,354,042
2,077,821
1,421,175
2,086,195
1,442,759
2,100,463
1,422,549
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 • September 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.
23,843
6
23,837
921,793
773,600
754,535
113,021
91,929
8,170
1,261
29,996
23,680
6
n.a.
166
n.a.
n.a.
23,674
n.a.
n.a.
920,103
779,300
755,612
114,375
90,518
8,170
1,261
29,996
23,454
6
23,590
6
n.a.
23,371
6
23,448
n.a.
n.a.
23,584
n.a.
23,365
918,457
776,600
750,240
115,147
90,468
8,170
1,261
29,996
n.a.
918,162
797,500
766,905
116,411
90,446
8,170
1,261
29,996
904,531
806,000
780,572
117,950
n.a.
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
28,325
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.
28,085
28,421
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
18,765
n.a.
9,320
18,826
n.a.
9,595
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'
1 All issues, new and refunding1
384,311
357,875
409,661
39,298
31,867
20,243
23,866'
28,180
29,779
34,009
44,523
By type of issue
2 General obligation
3 Revenue
144,056
238,204
130,471
227,404
146,028
263,632
10,289
29,010
8,564
23,302
7,416'
12,827'
9,160'
14,706
9,635
18,544
7,120
22,659
9,627
24,382
12,207
32,316
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
298,670
79,423
2,925
30,710
5,663
2,210
23,033
6,624
1,170
14,567
4,506
1,684
18,548'
3,634
2,767
20,958
4,455
1,311
22,668
5,801
2,150
25,671
6,188
3,224
35,595
5,704
7 Issues for new capital
264,697
228,357
223,829
24,475
20,669
12,161
15,117
17,806
19,690
23,677
34,102
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.
18.681
60,680
7,190
2,202
617
n.a.
1.845
9,482
6,538
1,384
1,152
n.a.
1.708
5,392
3,618
1,890
250
n.a.
1.470
3,132
3,210
1,803
411
n.a.
2.051
6,166
4,928
477
908
n.a.
2.454
5,563
5,455
2,306
788
n.a.
1.959
4,481
7,310
1,760
306
n.a.
2.159
6,548
8,240
3,492
843
n.a.
4.144
11,609
8
9
10
11
12
13
By use of proceeds
Education
Transportation
Utilities and conservation
Social welfare
Industrial aid
Other purposes
SOURCE: Securities Data Company beginning January 1990; Investment Dealer's Digest
before then.
1. Par amounts of long-term issues based on date of sale.
2. Includes school districts.
1.46
NEW SECURITY ISSUES
US. Corporations
Millions of dollars
2005
Type of issue, offering,
or issuer
2003
2004
2006
2005
Oct.
1
1 All issues
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
2,070,680
2,438,989
184,688
217,135
242,978
188,865'
211,135'
260,482'
180,232'
251,880
1,692,260
By type of offering
3 Sold in the United States
1,815,569
1,923,094
2,323,735
176,725
209,117
232,645
180,827'
204,973'
247,142'
172,401'
239,524
1,579,311
112 949
1,737,342
185 752
2,141,496
182 238
163.616
13 109
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
20,701
21,942
22,221
832
2.713
2.816
362,340
1,329,920
259,968
1,663,127
216,072
2,107,662
8,529
168,196
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
182,132
147,585
115,255
7,963
8,018
10,333
8,037
6,162
13,339
7,831
12,356
123,309
58,823
147,585
n.a.
115,255
n.a.
7,963
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.
44,416
78,893
64.345
83,240
54.713
60,541
2.445
5,517
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
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.
1,184
985
1.959
1.763
2,603
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 • September 2006
1.47
Net Sales and Assets1
OPEN-END INVESTMENT COMPANIES
Millions of dollars
2005
Item
2004
2006
2005'
Dec.
Jan.
Feb.
Mar.
Apr.
May
June'
July
1 Sales of own shares2
1,660,423
1,765,610
160,537
201,428
165,338
194,323
171,541
189,316
152,341
134,816
2 Redemptions of own shares
1,450,319
210,104
1,573,821
191,789
154,317
6,220
161,688
39,740
128,504
36,834
154,083
40,240
143,954
27,587
188,859
457
161,790
-9,449
131,112
3,704
6,193,664
6,864,636
6,864,636
7,152,932
7,169,845
7,313,245
7,460,010
7,236,296
7,228,283
7,235,065
304,816
5 888 848
303,068
6 561 568
303,068
6 561 568
314,604
6 838 328
333,544
6 836 301
330,511
6 982 734
353,879
7106 131
354,156
6 882 140
348,534
6 879 749
340,329
6 894 736
4 Assets
4
5 Cash5
1. Data include stock, hybrid, and bond mutual funds and exclude money market mutual
funds.
2. Excludes reinvestment of net income dividends and capital gains distributions and share
issue of conversions from one fund to another in the same group.
3. Excludes sales and redemptions resulting from transfers of shares into or out of money
market mutual funds within the same fund family.
1.51
DOMESTIC FINANCE COMPANIES
4. Market value at end of period, less current liabilities.
5. Includes all U.S. Treasury securities and other short-term debt securities.
SOURCE: Investment Company Institute. Data based on reports of membership, which
comprises substantially all open-end investment companies registered with the Securities and
Exchange Commission. Data reflect underwritings of newly formed companies after their
initial offering of securities.
Assets and Liabilities1
Billions of dollars, end of period; not seasonally adjusted
2004
2005
Q4'
Q1'
Q2'
2006
Q3'
Q4'
Q1'
Q2
ASSETS
2
4
1 284 0
472.1
441.7
370.2
Reserves for unearned income
8 All other
9 Total assets
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
1,414.7
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
Real estate
5 LESS:
1 494 0
566.5
451.5
476.0
1,203.7
694.1
Consumer
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
1527
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
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.1
May
Seasonally adjusted
1,613.7
2
3
4
Consumer .
Real estate
Business . .
1,783.9
1,898.1
679.0
400.2
534.5
736.4
500.5
547.0
773.0
564.1
561.0
1,968.0
1,931.4
773.0
564.1
561.0
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
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
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
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
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
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
18.9
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
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
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
33.0
.1
15.2
9.2
6.0
34.6
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
1,926.0
1,963.1
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 • September 2006
1.53
MORTGAGE MARKETS
Mortgages on New Homes
Millions of dollars except as noted
2006
Item
2003
2004
2005
Jan.
Feb.
Mar.
Apr.
May
June
July
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
337.7
243.4
74.4
28.9
.43
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
5.71
5.80
n.a.
5.68
5.75
n.a.
5.86
5.93
n.a.
6.06
6.12
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.
n.a.
5.03
n.a.
5.19
n.a.
5.13
n.a.
5.24
n.a.
5.44
n.a.
5.59
n.a.
5.84
n.a.
5.99
n.a.
6.08
n.a.
6.10
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.
725,661
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.
14 Mortgage transactions purchased (during period)
572,852
262,646
146,641
12,199
11,417
14,165
23,042
18,704
18,697
15,133
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.
704,172
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.
n.a.
713,260
n.a.
365,148
n.a.
397,867
n.a.
33,669
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.
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
Ql
1 All holders .
2
3
4
5
By type of property
One- to four-family residences
Multifamily residences
Nonfarm, nonresidential
Farm
By type of holder
6 Major financial institutions . . .
7
Commercial banks2
One- to four-family
9
Multifamily
10
Nonfarm, nonresidential .
11
Farm
12 Savings institutions3
13
One- to four-family
14
Multifamily
15
Nonfarm, nonresidential .
16
Farm
17 Life insurance companies . .
18
One- to four-family
19
Multifamily
20
Nonfarm, nonresidential .
Farm
21
22 Federal and related agencies
23 Government National Mortgage Association
24
One- to four-family
25
Multifamily
26 Farmers Home Administration4
27
One- to four-family
28
Multifamily
29
Nonfarm, nonresidential
30
Farm
31 Federal Housing Admin, and Dept. of Veterans Affairs . . .
32
One- to four-family
33
Multifamily
34 Resolution Trust Corporation
35
One- to four-family
36
Multifamily
37
Nonfarm, nonresidential
38
Farm
39
40 Federal Deposit Insurance Corporation
One- to four-family
41
Multifamily
42
Nonfarm, nonresidential
43
Farm
44
Federal National Mortgage Association
45
One- to four-family
46
Multifamily
47
48 Federal Land Banks
49
One- to four-family
50
Farm
51 Federal Home Loan Mortgage Corporation
52
One- to four-family
53
Multifamily
54 Federal Agricultural Mortgage Corporation
Farm
55 Mortgage pools or trusts5
56
Government National Mortgage Association
One- to four-family
57
58
Multifamily
59 Federal Home Loan Mortgage Corporation
60
One- to four-family
61
Multifamily
62 Federal National Mortgage Association . . .
63
One- to four-family
64
Multifamily
65 Farmers Home Administration4
66
One- to four-family
67
Multifamily
68
Nonfarm, nonresidential
69
Farm
70
Private mortgage conduits
71
One- to four-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
11,129,540
11,560,350
11,970,520
12,329,310
8,245,339
9,238,721
10,488,130
6,244,957
486,680
1,388,194
125,507
7,027,946
557,375
1,519,818
133,583
8,032,245
612,162
1,702,010
141,710
8,233,769
623,132
1,746,145
142,963
8,530,305
640,616
1,812,385
146,234
8,872,313
655,249
1,884,450
148,337
9,175,540
675,191
1,971,891
147,902
9,455,485
690,497
2,032,948
150,381
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
4,032,258
2,689,241
1,633,240
122,807
888,164
45,030
1,068,024
883,372
90,294
93,761
597
274,993
5,024
40,705
215,405
13,859
4,181,783
2,790,473
1,696,047
129,021
919,185
46,220
1,112,919
921,684
95,048
95,582
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
4,394,587
2,956,568
1,774,344
140,121
994,513
47,590
1,152,732
954,974
98,168
98,974
616
285,287
4,532
42,474
224,101
14,180
4,504,566
3,024,712
1,803,998
145,450
1,026,835
48,430
1,192,341
990,148
100,103
101,412
677
287,513
4,568
42,708
225,943
14,294
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
554,645
42
42
0
70,690
13,338
11,537
42,559
3,255
4,936
1,346
3,589
0
0
0
0
0
11
2
552,979
39
39
0
70,995
13,274
11,527
42,957
3,237
4,784
1,356
3,429
0
0
0
0
0
9
548,982
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
7
0
249,515
222,535
26,980
52,793
3,106
49,687
61,360
23,389
37,971
887
887
7
0
249,397
222,417
26,980
53,341
3,139
50,202
61,736
38^204
865
865
2
6
0
249,230
222,250
26,980
54,769
3,223
51,546
60,986
23,246
37,740
838
838
550,130
36
36
0
72,044
13,124
11,500
44,172
3,247
4,703
1,359
3,344
0
0
0
0
0
9
1
2
5
0
248,994
222,014
26,980
55,489
3,265
52,224
61,207
23,331
37,876
832
832
5
0
248,991
222,011
26,980
54,640
3,215
51,425
61,481
23,435
38,046
804
804
549,798
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
248,974
221,994
26,980
55,233
3,250
51,983
62,935
23,989
38,946
787
787
0
0
0
797,725
488,307
59,225
250,193
0
367
367
4,460,249
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
971,124
609,386
67,288
294,450
0
1,003
1,003
4,972,063
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
1,429,890
1,006,659
75,170
348,061
0
938
938
5,095,772
431,193
398,619
32,574
1,218,978
1,202,023
16,955
1,896,003
1,820,163
75,840
0
0
0
0
0
1,548,716
1,105,874
77,309
365,533
0
882
882
5,292,492
420,915
388,057
32,858
1,245,930
1,228,600
17,330
1,900,149
1,824,143
76,006
0
0
0
0
0
1,724,623
1,248,942
82,955
392,726
0
875
875
5,544,190
411,338
378,109
33,229
1,279,664
1,261,865
17,799
1,924,810
1,847,818
76,992
0
0
0
0
0
1,927,543
1,428,130
85,991
413,422
0
835
835
5,823,804
405,355
371,593
33,762
1,330,795
1,312,284
18,511
1,940,079
1,862,476
77,603
0
0
0
0
0
2,146,740
1,594,000
95,162
457,578
0
835
835
6,031,532
403,368
368,955
34,413
1,375,148
1,356,020
19,128
1,972,793
1,893,881
78,912
0
0
0
0
0
2,278,925
1,702,356
98,494
478,075
0
1,298
1,298
766,011
547,833
77,343
116,004
24,830
854,166
618,886
80,439
128,416
26,424
1,036,565
783,845
85,154
139,545
28,021
1,063,335
808,025
86,320
140,717
28,273
1,102,285
843,047
86,492
143,864
28,881
1,148,805
883,580
87,657
148,269
29,300
1,203,150
933,003
89,405
151,507
29,235
1,243,415
968,306
90,665
154,725
29,719
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
3,956,329
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 • September 2006
1.55 CONSUMER CREDIT1
Millions of dollars, amounts outstanding, end of period
2005
Holder and type of credit
2003
2004
2006
2005
Dec.
Jan.'
Feb.'
Mar.'
Apr.'
May
Seasonally adjusted
1 Total
2,090,230'
2,203,307'
2,291,252'
2,291,252'
2,308,696
2,305,874
2,306,012
2,314,458
2,330,197
2 Revolving
764.174'
1 326 056'
796,372'
1,406,935'
819,055'
1,472,197'
819.055'
1,472,197'
825.599
1,483,097
818.257
1,487,617
817.612
1,488,400
820.443
1,494,016
829,304
1,500,893
Not seasonally adjusted
2,118,387'
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
2,233,005'
2,322,048'
2,322,048'
2,328,197
2,306,622
2,293,286
2,302,859
2,316,389
669,386
393,044'
205,877
114,658
77,850
63,348
594,224'
704,270
492,346'
215,384
98,363
91,271
64,684
566,687'
707,039
516,534'
228,588
102,122
109,078
62,186
596,502'
707,039
516,534'
228,588
102,122
109,078
62,186
596,502'
706,607
517,133
229,661
104,435
110,031
60,455
599,875
696,409
501,444
228,904
104,449
111,285
58,935
605,196
697,568
499,555
228,849
104,469
100,058
58,351
604,436
704,734
503,342
231,470
104,426
101,327
57,061
600,499
713,170
498,677
233,043
104,082
102,638
56,567
608,211
784,753'
285,015
45,266'
22,410
n.a.
23,848
19,363
388,852'
818,650'
314,649
50,382'
23,244
n.a.
27,905
17,899
384,572'
842,062'
311,204
66,307'
24,688
n.a.
40,755
14,427
384,681'
842,062'
311,204
66,307'
24,688
n.a.
40,755
14,427
384,681'
834,885
301,662
65,628
24,656
n.a.
40,376
14,113
388,449
817,489
289,496
64,802
23,353
n.a.
40,035
13,881
385,923
808,336
281,236
63,747
23,122
n.a.
39,656
13,715
386,860
815,672
288,093
65,316
23,507
n.a.
40,237
12,292
386,227
824,327
292,969
67,466
23,926
n.a.
40,837
11,488
387,640
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'
1,479,986'
395,835
450,226'
203,900
102,122
68,323
47,759
211,822'
1,493,313
404,944
451,505
205,005
104,435
69,655
46,342
211,426
1,489,133
406,913
436,642
205,551
104,449
71,250
45,054
219,274
1,484,950
416,332
435,808
205,727
104,469
60,402
44,636
217,576
1,487,188
416,641
438,027
207,963
104,426
61,090
44,769
214,272
1,492,062
420,201
431,211
209,117
104,082
61,801
45,080
220,571
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
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
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
7.43
11.95
n.a.
n.a.
n.a.
n.a.
7.39
12.18
n.a.
n.a.
n.a.
n.a.
7.53
12.63
Credit card plan
3 All accounts
4 Accounts assessed interest
12.30
12.73
12.71
13.21
12.51'
14.54
12.58
14.49
n.a.
n.a.
n.a.
n.a.
13.30
14.38
n.a.
n.a.
n.a.
n.a.
13.14
14.77
3.40
9 72
4.36
8 96
5.46
9 03
6.40
8 95
5.39
873
5.13
8 64
5.54
9 41
5.35
9 17
5.59
9 44
5.96
9 62
61.4
57 5
60.5
56 8
60.0
57 6
60.6
57 5
61.2
57 5
62.6
57 9
61.8
57 7
61.1
57 7
60.9
57 5
61.0
57 6
95
100
89
100
88
98
88
98
88
98
88
98
90
98
91
98
91
98
91
99
26,295
14,613
24,888
15,136
24,133
16,228
24,174
17,019
24,706
17,174
24,522
16,894
24,766
16,303
25,490
16,599
24,986
16,567
24,788
16,645
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'
Ql'
Q2'
Q3'
Q4'
Ql'
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
95.0r
77.4r
558XT
418.8r
26.6r
105.6r
7.0
-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 r
550.1 r
341.9r
196.8r
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
1,719.9
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
181.l r
912.91"
1,129.4
1,474.2'
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 • September 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'
Ql'
Q2'
Q3'
Q4'
Ql'
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 P
Q2 P
Q3 P
Q4 r
Ql'
Q2
N E T L E N D I N G IN C R E D I T M A R K E T S 2
1 Total net lending in credit markets
2 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 • September 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
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
1,571.1
3,352.7
4,989.1
1,603.5
5,490.1
1,424.3
1,444.5
7,486.2
1,904.9
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.2
through L.4, available at www.federalreserve.gov/releases.
Flow of Funds
1.60
39
SUMMARY OF FINANCIAL ASSETS AND LIABILITIES1
Billions of dollars except as noted, end of period
Transaction category or sector
Q4'
Ql'
Q2'
Q3'
Q4'
Ql'
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 • September 2006
2.12
OUTPUT, CAPACITY, AND CAPACITY UTILIZATION'
Seasonally adjusted
2005
2005
2006
2006
2005
2006
Series
Q3
Q4
Q1
Q2'
Q3
Q4
Q1
Q2
Capacity (percent of 2002 output)
Output (2002=100)
Q3
Q4
Q1
Q2'
Capacity utiliz ition rate (percent)2
1 Total industry
108.0
109.4
110.8
112.5
135.3
135.9
136.6
137.2
79.8
80.5
81.1
82.0
2 Manufacturing
Manufacturing (NAICS)
3
109.2
109.7
111.6
112.2
113.1
113.8
114.5
115.3
139.1
140.4
139.9
141.3
140.7
142.2
141.6
143.1
78.5
78.1
79.8
79.4
80.3
80.1
80.8
80.5
4
5
116.9
98.4
121.1
103.4
122.7
105.8
124.9
108.3
151.5
123.9
153.2
123.9
154.8
123.6
156.2
123.2
77.1
79.4
79.1
83.5
79.3
85.6
79.9
87.9
106.5
115.5
159.6
108.9
120.3
169.4
110.6
119.8
173.9
112.1
122.1
180.7
142.6
144.3
208.6
143.1
144.2
216.6
143.6
144.3
224.4
144.2
144.8
230.4
74.7
80.1
76.5
76.1
83.5
78.2
77.0
83.0
77.5
77.7
84.3
78.4
107.5
112.9
110.7
112.2
113.3
112.2
116.6
112.8
126.5
139.5
126.2
141.0
126.2
142.2
126.7
143.1
84.9
80.9
87.7
79.6
89.8
78.9
92.0
78.8
105.6
101.2
104.4
92.1
115.7
101.8
106.0
91.5
121.0
103.4
107.4
90.7
124.2
104.0
107.3
88.5
160.6
127.3
129.4
119.4
161.3
127.2
129.5
118.5
162.2
127.4
129.8
117.7
163.1
127.8
130.6
117.0
65.8
79.5
80.7
77.2
71.7
80.0
81.9
77.2
74.6
81.2
82.7
77.0
76.1
81.4
82.2
75.6
96.4
102.8
101.3
104.6
100.8
98.4
99.7
100.7
107.3
101.6
98.8
103.6
102.7
108.1
100.9
97.8
102.9
104.7
109.5
101.7
115.8
114.0
135.6
120.8
117.9
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
83.2
90.1
74.7
86.6
85.5
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
20
21 Electric and gas utilities
96.4
108.2
92.6
106.6
98.1
102.6
100.6
106.5
111.9
122.9
111.9
122.8
111.7
122.8
111.2
123.0
86.1
88.1
82.7
86.9
87.9
83.5
90.4
86.5
MEMOS
22 Computers, communications equipment, and
semiconductors
175.9
186.8
193.5
202.9
233.6
246.7
258.7
265.9
75.3
75.7
74.8
76.3
23 Total excluding computers, communications
equipment, and semiconductors
105.0
106.1
107.3
108.8
130.8
131.0
131.3
131.7
80.2
81.0
81.7
82.6
24 Manufacturing excluding computers,
communications equipment, and
semiconductors
105.6
107.6
108.8
110.0
133.8
134.0
134.4
135.0
78.9
80.3
81.0
81.5
6
7
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
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
High
Low
High
Latest cycle3
Previous cycle2
2006
2005
Series
Low
High
Low
Aug.
Mar.
Apr.
May'
June'
July'
Aug.p
Capacity ut lization rate (percent)4
1 Total Industry
88.9
74.1
86.6
70.7
85.1
78.6
80.3
81.3
81.8
81.7
82.5
82.7
82.4
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
78.8
78.4
80.3
80.0
80.9
80.6
80.5
80.2
81.1
80.8
81.2
80.9
81.0
80.7
89.4
101.9
69.7
69.7
86.8
90.4
62.8
46.9
84.6
94.9
73.4
74.6
77.4
79.2
79.3
84.5
80.0
86.1
79.6
88.7
80.3
88.9
80.3
87.6
80.3
88.5
91.7
94.5
69.7
74.5
82.8
92.6
61.8
58.2
81.7
85.3
72.6
73.9
74.7
79.1
77.5
83.5
78.1
85.5
77.3
83.4
77.7
84.0
78.2
87.6
78.3
87.0
86.9
66.1
89.4
76.4
81.5
75.9
76.7
77.4
77.9
78.2
79.2
79.7
79.4
99.3
95.6
68.0
54.6
91.9
95.2
64.7
45.0
89.0
89.3
77.0
56.0
84.8
81.1
90.4
79.2
91.8
78.8
92.3
77.6
91.8
79.9
93.8
75.9
93.8
76.5
75.8
87.6
67.5
72.4
86.7
85.8
68.8
75.6
87.3
86.9
81.3
81.5
69.5
79.7
74.5
81.1
76.0
81.4
75.9
81.2
76.5
81.6
77.9
81.8
78.1
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
80.3
76.9
82.5
76.4
83.0
76.0
81.8
75.5
81.6
75.5
82.1
76.0
81.8
75.8
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
83.1
91.4
75.7
86.2
85.6
84.3
89.1
75.7
89.7
85.2
84.3
86.9
76.2
90.7
86.2
84.4
90.0
76.4
89.3
86.1
85.6
92.8
76.8
90.1
86.0
84.9
91.9
76.9
90.7
86.5
84.3
92.1
76.5
89.7
86.0
20 Mining
21 Electric and gas utilities
93.6
96.3
87.6
82.7
93.9
88.2
78.7
77.6
86.1
92.7
83.6
84.1
88.6
88.2
88.1
86.0
89.7
84.8
90.3
86.3
91.3
88.5
91.9
89.3
91.7
88.5
MEMOS
22 Computers, communications
equipment, and semiconductors .
84.4
62.4
88.7
74.0
80.9
74.0
75.6
74.7
75.4
76.1
77.4
77.9
77.6
23 Total excluding computers,
communications equipment,
and semiconductors
89.1
74.4
86.7
70.5
85.5
78.8
80.7
81.9
82.4
82.3
83.0
83.3
83.0
24 Manufacturing excluding computers,
communications
equipment, and semiconductors .
88.4
71.9
86.3
68.1
86.0
77.3
79.2
81.0
81.5
81.2
81.7
81.8
81.6
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
Federal Reserve Bulletin Statistical Supplement • September 2006
2.13
INDUSTRIAL PRODUCTION
Indexes and Gross Value1
Monthly data seasonally adjusted
Group
2002
proportion
Aug.
Sept.
Jan.
Feb.
Mai
Apr.
May'
Aug.'
Index (2002=100)
MAJOR MARKETS
108.6
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
113.9
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
09.5
05.6
10.1
14.4
13.6
06.5
03.1
03.9
03.2
03.8
85.0
03.8
04.4
06.5
109.1
106.4
112.7
117.8
113.5
108.5
104.9
103.9
103.7
104.5
85.7
104.2
103.9
105.0
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
1118
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
114.3
107.9
112.0
116.2
135.0
103.8
106.0
106.3
105.9
106.2
89.2
106.7
107.2
107.4
114.8
107.5
108.5
109.0
136.2
103.5
107.2
107.0
106.7
107.2
91.1
106.9
107.9
108.1
114.7
107.6
109.8
136.9
104.7
107.1
106.7
106.5
107.1
91.2
106.7
107.1
107.6
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
20.1
18.7
36.1
12.5
27.4
115.1
88.9
138.1
113.1
124.6
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
133.5
137.2
158.4
120.1
132.8
136.6
140.2
160.3
123.5
133.8
136.3
140.6
159.6
123.3
134.2
21
22
Construction supplies
Business supplies
4.3
11.2
108.7
107.7
08.2
07.9
109.8
107.8
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
113.6
111.8
114.4
112.4
114.2
111.6
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
07.4
10.2
17.0
01.6
45.7
04.0
99.3
84.5
96.0
02.1
00.0
104.5
109.4
118.8
103.3
147.2
105.8
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
116.5
126.4
104.9
164.3
110.4
101.1
81.6
98.7
103.2
101.0
112.6
117.0
127.1
102.8
168.4
110.5
101.3
81.6
97.8
103.8
101.7
112.4
116.9
127.2
103.3
168.6
110.5
100.8
81.7
97.0
103.2
101.1
94.8
92.6
105.3
107.9
05.5
08.2
104.0
106.5
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
109.9
114.2
109.7
113.9
SPECIAL AGGREGATES
34 Total excluding computers, communication
equipment, and semiconductors
35 Total excluding motor vehicles and parts . .
Gross value (billions of 2000 dollars, annual rates)
36 Final products and nonindustrial
supplies
37 Final products
38
Consumer goods
39
Equipment total .
Nonindustrial supplies .
2,990.6
43.5
31.1
12.4
15.5
2,981.2
3,038.5 3,058.4
3,058.8
3,083.4
3,131.9
2,264.1 2,270.1 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 2,371.4 2,374.0 2,375.3
1,593.2 1,598.1 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 1,637.0 1,623.0 1,628.1
762.1
757.8
743.0
675.0
676.0
651.3
696.3
707.8
711.8
720.7
721.6
727.5
742.8
737.6
726.8
727.2
726.9
733.4
741.2
746.7
742.9
740.2
744.6
747.0
749.8
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.
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May'
Juner
July'
Aug.'
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
109.5
110.1
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
116.3
115.5
116.3
321
43.6
1.5
117.0
107.6
117.3
104.0
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
105.0
126.1
105.8
126.5
103.7
327
331
332
333
2.3
2.3
5.7
5.3
107.2
100.6
106.7
115.7
105.9
98.2
106.6
114.1
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
109.4
112.3
121.7
110.6
107.6
113.1
127.2
110.7
108.7
113.5
126.5
334
8.0
156.7
160.1
162.1
165.0
170.7
172.5
172.4
173.8
175.3
178.0
180.3
183.9
186.3
187.2
335
3361-3
2.2
7.4
106.9
112.1
107.2
113.1
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
119.3
109.0
119.5
110.1
3364-9
3.6
109.8
111.7
94.2
112.2
116.4
118.4
119.6
122.3
121.0
123.8
123.8
125.0
127.6
128.1
337
339
1.8
3.3
100.7
110.3
100.2
111.6
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
100.3
115.6
100.9
115.2
35.5
101.8
101.5
100.1
100.7
102.0
102.7
103.7
103.1
103.4
103.9
103.7
104.5
104.9
104.5
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
103.9
91.9
85.9
96.2
97.2
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
98.7
102.5
107.7
88.6
91.6
97.8
102.6
107.6
88.1
91.7
97.1
101.9
324
325
1.7
10.7
103.8
102.6
104.2
102.7
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
106.2
105.3
105.2
105.6
105.4
105.2
326
3.8
104.8
104.1
106.5
106.2
107.4
108.4
108.0
108.0
108.4
110.0
108.6
109.8
110.9
110.1
1133,5111
4.8
101.9
100.9
100.4
101.4
101.1
102.3
102.0
100.3
100.6
101.8
101.7
101.6
102.1
101.6
21
2211,2
2211
2212
6.4
9.7
8.3
1.5
97.4
105.8
107.4
97.4
99.2
108.4
110.1
100.4
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
101.4
109.0
111.4
97.1
102.0
110.1
112.8
97.1
101.6
109.2
111.6
97.5
78.7
106.1
105.9
105.2
107.1
107.7
108.0
109.0
108.6
109.0
109.9
109.5
110.4
110.7
110.7
76.5
109.3
109.2
108.2
110.4
111.8
112.4
113.2
113.0
113.3
114.4
114.3
115.1
116.1
116.0
NOTE: The statistics in this release cover output, capacity, and capacity utilization in the
industrial sector, which is defined by the Federal Reserve to comprise manufacturing, mining,
and electric and gas utilities. Mining is defined as all industries in sector 21 of the North
American Industry Classification System, or NAICS; electric and gas utilities are those in
NAICS sectors 2211 and 2212. Manufacturing comprises NAICS industries (sector 31-33)
plus the logging industry and the newspaper, periodical, book, and directory publishing
industries. Logging and publishing are classified elsewhere in NAICS (under agriculture and
information respectively), but historically they were considered to be manufacturing and were
included in the industrial sector under the Standard Industrial Classification (SIC) system. In
December 2002, the Federal Reserve reclassified all its industrial output data from the SIC
system to NAICS.
1. Data in this table appear in the Board's G.17 (419) monthly statistical release, 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 • September 2006
3.10
U.S. INTERNATIONAL TRANSACTIONS
Summary
Millions of dollars; quarterly data seasonally adjusted except as noted1
Item credits or debits
Q2
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
Q3
Q4
Ql'
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
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.'
1 Total
85,938
86,824
65,127
65,594
65,364
65,354
66,846
67,706
67,935
67,559
66,606
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
8,302
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
22,535
39,722
19,479
42,718
8,036
37,838
7,639
38,609
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
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'
Jan.
1 Deposits
Feb.
Apr.
May
June
July
Aug.'
162
80
83
83
82
84
86
86
142
88
89
845,080
8,971
Held in custody
2 U.S. Treasury securities2
3 Earmarked gold3
1,041,215
8,967
1,069,014
8,967
1,080,198
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
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
Mar.
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
2004
2005
1
June "
1
June
8
Dec.
Apr.
May
June
July'
1,909,034
By type
2 Liabilities reported by banks in the United States2
2,166,951
1,954,620
2,109,144
2,166,951
2,227,127
2,242,204
270,387
245,199
296,650
201,863
288,792
204,912
288,792
204,912
296,650
201,863
301,338
197,456
320,366
195,085
337,571'
187,962
342,121
187,098
986 454
1,630
405,363
1 077 631
948
589,859
1 030 763
911
429,242
1 052 742
911
561,787
1 077 631
948
589,859
1 102 074
973
625,286
1 088 439
980
637,334
1 084 002
986
644,113
1 092 242
993
658,575
357,322
7,806
112,608
1,388,409
10,843
31,866
1 Total
2,254,634' 2,281,029
368,519
7,211
128,006
1,616,493
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
368,519
7,211
128,006
1,616,493
17,214
29,502
384,120
7,038
139,290
1,644,216
16,723
35,734
395,866
7,932
141,585
1,640,039
17,786
38,990
401,022
6,813
148,097
1,643,905
18,665
36,126'
405,449
7,341
151,040
1,661,320
19,275
36,598
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 • September 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.
July'
BY HOLDER AND TYPE OF LIABILITY
1 Total, all foreigners
2 Banks' own liabilities
By type of liability
3
Deposits2
4
Other
5
Of which: repurchase agreements3
6
Banks' custody liabilities4
By type of liability
7
U.S. Treasury bills and certificates5
8
Other negotiable and readily transferable
instruments'"
9
Of which: negotiable time
certificates of deposit held in custody
for foreigners
10
Of which: short-term agency securities7 . . .
11
Other
3,073,217
3,144,265
3,228,382
3,232,866
3,393,248" 3,490,600" 3,328,885
3,386,003
,677,193
2,082,981
2,294,279
2,355,215
2,451,086
1,450,407
2,611,242' 2,681,677'
!,466,322
2,496,396
852,803
824,390
460,191
638,413
955,072
1,127,909
665,127
1,045,161 1,060,965
1,249,118 1,294,250
706,297
757,998
1,086,845
1,364,241
804,186
1,101,349
1,349,058
768,352
782,459
1,195,865 1,250,128' 1,150,766
1,415,377' 1,431,549' 1,315,556
812,631
767,973
853,179
862,563
782,006'
808,923'
248,538
258,862'
255,477'
1,165,227
1,331,169
768,956
2,315,606
828,535
778,938
789,050
777,296
318,783
259,843
269,264
275,808
315,169
319,826
317,632
304,840
34,394
83,633
176,842
48,260
152,789
194,583
53,594
136,783
199,269
53,754
131,744
202,154
52,886
114,582
196,648
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
20,296
15,360
8,278
7,082
4,936
1,164
1,462
0
3,412
4,096
0
401,856
117,737
24,208
93,529
515,586
145,516
26,613
118,903
284,119
212,032
258,797
277,836
889,607
254,682
325,926'
349,573'
52,170
116,421
200,654
55,515'
118,748
197,218'
58,867'
131,861
203,873
57,110
143,157
252,602
58,913
135,807
268,392
23,137
18,071
9,619
8,452
5,066
1,398
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
19,113
13,531
8,518
5,013
5,582
1,374
21,744
16,183
9,786
6,397
5,561
1,445
3,772
3,668
3,330
0
4,293
4,059
0
4,208
0
4,116
498,513
170,987
45,429
125,558
510,565
181,700
47,453
134,247
502,990
179,708
45,418
134,290
511,318
194,542
45,014
149,528
498,794
195,839
45,654
150,185
515,451
202,719
49,600
153,119
525,533
214,322
51,180
163,142
529,219
220,878
50,892
169,986
370,070
245,199
327,526
201,863
328,865
210,460
323,282
216,047
316,776
215,489
302,955
197,456
312,732
195,085
311,211
187,962
308,341
187,098
69,638
2,449
123,165
1,706
124,538
1,125
107,234
101,286
1
105,498
117,614
33
123,206
43
121,242
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
1,787,860
1,564,629
839,880
724,749
223,231
23,771
1,821,990
1,596,861
848,992
747,869
225,129
22,144
1,870,933
1,647,293
874,278
773,015
223,640
23,486
1,890,376
1,663,690
891,577
772,113
226,686
22,507
2,027,537' 2,087,074' 1,953,243
1,801,164' 1,853,833' 1,672,523
983,368 1,034,285
929,876
817,796'
819,548'
742,647
226,373'
233,241
280,720
23,890
23,642
21,458
1,993,213
1,691,876
941,794
750,082
301,337
26,598
49,311
149,752
52,400
140,978
48,777
150,683
48,341
154,644
48,174
151,980
48,660
155,519
51,326
151,157'
51,959
157,640
53,773
205,489
53,423
221,316
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
766,051
543,051
151,491
391,560
791,414
561,294
156,242
405,052
831,322
606,014
157,530
448,484
810,370
576,102
155,549
420,553
847,366'
600,062
157,373
442,689
868,653'
610,819'
157,397'
453,422
830,996
565,946
161,192
404,754
841,827
567,459
162,755
404,704
40
41
42
135,392
28,388
232,818
44,727
223,000
33,124
230,120
35,496
225,308
34,877
234,268
38,441
247,304'
36,435'
257,834'
35,693'
265,050
37,744
274,368
39,541
82,363
24,641
136,192
51,899
142,415
47,461
147,115
47,509
145,764
44,667
150,693
45,134
164,809'
46,060
175,941'
46,200
180,236
47,070
187,752
47,075
12 Nonmonetary international and regional organizations5 . .
13
Banks' own liabilities
14
Deposits2
15
Other
16
Banks' custody liabilities4
17
U.S. Treasury bills and certificates5
18
Other negotiable and readily transferable
instruments'"
Other
19
20 Official institutions9
21
Banks' own liabilities
22
Deposits2
23
Other
24
25
26
27
Banks' custody liabilities4
U.S. Treasury bills and certificates5
Other negotiable and readily transferable
instruments'"
Other
28 tanks10
29
Banks' own liabilities
30
Deposits2
31
Other
32
Banks' custody liabilities4
33
U.S. Treasury bills and certificates5 . .
34
Other negotiable and readily
transferable instruments'"
35
Other
43
Banks' custodial liabilities
U.S. Treasury bills and certificates5 .
Other negotiable and readily
transferable instruments'"
Other
366,533
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.
July'
AREA OR COUNTRY
45 Total, all foreigners
2,315,606
2,911,516
3,073,217
3,144,265
3,228,382
3,232,866
3,393,248" 3,490,600' 3,328,885' 3,386,003
46 Foreign countries
2,301,457
2,895,862
3,052,424
3,123,969
3,205,245
3,212,064
3,373,697' 3,471,178' 3,309,772' 3,364,259
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
1,221,808
3,604
16,022
1,537
3,612
71,686
56,912
1,200
7,078
61,065
14,462
27,921
2,716
101,335
9,495
4,771
140,459
9,896
558,007
29,559
119
100,352
1,267,436
4,276
18,368
2,231
5,967
90,571
57,682
1,475
7,820
63,404
17,396
27,583
3,164
99,023
10,471
3,899
102,844
10,072
613,849
28,977
104
98,260
1,318,544
4,267
17,738
2,358
953
97,275
58,321
1,499
6,781
61,755
19,420
26,862
2,734
94,220
11,027
4,135
117,321
12,658
646,341
30,390
103
102,386
1,330,036
5,460
18,150
2,073
1,603
85,597
61,601
1,276
5,904
60,389
20,718
40,391
3,804
91,133
11,121
5,833
139,533
10,650
628,150
28,416
97
108,137
1,449,478' 1,504,517' 1,306,201' 1,267,895
5,336
6,157
5,477
5,741
14,137'
14,206
15,245
13,923
1,692
2,007
1,649'
1,833
2,108
3,063
3,476
997
79,671
106,716
107,623
74,289
59,351
56,534
59,640
56,364
1,276
1,520
1,220
1,490
6,373
6,723
5,988
5,909
68,095
66,332'
66,167
65,351'
26,144
22,894
27,720
27,929
58,450
49,275'
61,452'
45,478
3,182
2,332
2,954
3,223
89,418
93,490
98,221
95,081
8,842
7,592
8,674
7,805
3,968
4,676
4,513
5,189
51,631
81,654'
207,106'
194,444'
8,608
10,936
7,856
10,787
642,087
702,372'
644,737'
668,522
27,077
28,365
27,556'
29,212
202
113
196
98
111,026
108,720'
113,031'
99,574'
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
33,165
37,070
38,957
32,180
43,607'
39,164'
40,016'
41,665
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
133,653
9,674
11,901
8,961
6,477
3,393
1,643
42,531
5,277
3,051
4,939
27,262
8,544
138,181
9,533
13,906
10,108
7,196
3,071
1,991
42,232
5,139
2,988
5,615
27,613
8,789
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'
155,479'
9,992
16,682
12,504'
11,606'
2,671'
1,422
52,804'
5,315'
3,306
5,487
22,498'
11,192'
159,027
9,947
18,955
13,943
12,050
2,657
1,616
50,701
5,735
4,119
5,719
22,678
10,907
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
1,214,474
212,430
52,146
907,269
120
916
6,397
2,830
32,366
1,241,686
216,659
56,748
926,009
120
693
6,103
2,961
32,393
1,278,600
230,917
56,790
947,577
121
1,199
6,096
2,849
33,051
1,288,249
225,497
55,418
962,961
122
897
6,783
3,348
33,223
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
407,914
396,756
381,860
372,818
366,056'
367,118'
365,883'
389,452
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
34,007
13,736
4,307
9,802
155,716
27,095
3,777
9,965
49,485
30,309
49,509
22,360
28,543
12,033
3,548
9,033
148,450
26,572
3,466
9,242
53,216
30,784
34,190
22,241
32,186
11,072
3,319
8,557
145,372
26,778
3,538
11,630
55,513
27,464
34,273
19,463
25,385
13,251
7,805
7,484
138,643
25,430
3,429
12,704
56,950
28,001
29,393
22,220'
29,831
14,222
5,819
8,057
132,210
23,174'
4,048
11,529
55,772
29,781
30,095
20,101'
29,643
15,340
5,421
8,076
130,582
22,468
3,749
12,758
57,752
31,133
34,854
17,700'
28,145
15,903
4,033
6,738
127,636
21,388
3,938
11,578
61,689
32,281'
38,781
21,330
32,520
16,674
4,568
6,776
135,635
21,869
3,557
11,826
64,726
31,190
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
20,168
4,980
138
3,049
7
6,892
5,102
20,988
5,071
162
3,175
4
7,478
5,098
22,423
5,241
131
3,541
5
8,526
4,979
17,982
4,366
231
3,898
18,136'
3,430
122
1,627
4,677
4,807
17,228
4,421
211
1,766
2
5,471
5,357
7,680
5,274'
18,571'
4,228
154
1,602
9'
6,908
5,670'
19,753
3,409
208
1,610
3
6,906
7,617
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
21,852
17,001
4,331
520
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
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
20,296
16,093
1,709
2,393
23,137
18,894
1,626
2,526
20,802
16,783
1,604
2,320
19,551
14,112
2,373
2,729
19,422
14,909
1,634
2,454
19,113
14,286
1,879
2,534
21,744
16,860
2,027
2,586
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.
1,317,706' 1,364,134' 1,393,348' 1,455,368
236,624
229,962
224,292
229,409
48,125'
52,526'
44,964
45,649'
995,143' 1,030,090' 1,069,629' 1,135,983
124
123
126
125
843
818
827
753
10,188
7,816
9,868
8,479
3,034
2,835
2,930
2,896
35,106
33,408
34,432
33,429
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 • September 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.
1 Total, all foreigners
1,322,363
1,664,223
1,854,203
1,911,829
2,000,266
1,999,420
2,085,647
2,146,621
2,039,625' 2,064,923
2 Foreign countries
1,317,292
1,658,247
1,846,953
1,904,365
1,994,434
1,992,206
2,079,003
2,139,176
2,030,688' 2,058,832
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
917,967
4,101
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
488,345
31,124
0
24,044
948,980
5,219
19,304
499
8,416
98,133
27,446
163
17,381
9,083
19,585
16,270
829
1,194
9,790
8,190
95,994
3,380
552,522
30,793
1
24,788
993,168
4,224
18,446
1,022
9,407
89,455
28,380
299
17,688
9,382
22,684
15,266
677
1,353
12,649
11,965
106,776
3,213
585,032
30,512
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
548,902
30,652
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
994,930
5,186
14,093
773
11,742
104,024
21,697
123
20,969
9,881
31,998
25,965
799
2,795
7,546
11,387
138,212
3,406
529,992
30,442
0
23,900
52,140
51,088
63,422
53,252
56,858
61,060
65,488
59,073
67,074
65,629
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
2,341
15,580'
6,896
2,619
540
892
17,312
2,448
1,240
392
1,984
2,246'
54,514
2,562
16,868
6,501
2,548
533
845
16,513
2,341
1,194
394
1,994
2,221
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
54,650
2,298
17,937
6,480
2,952
570
965
15,087
1,881
1,159
459
2,296
2,566
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
614,190
108,793
17,846
473,608
0
444
4,444
907
8,148
654,409
127,168
21,201
492,593
0
484
4,484
931
7,548
690,096
135,090
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
732,751
158,284
24,473
537,399
0
519
3,861
787
7,428
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
187,677
181,312
189,200
172,316
169,998
181,411
184,877
195,763
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
103,465
17,274
1,790
7,796
12,330
5,972
16,262
5,754
7,034
2,524
391
4,172
108,224
16,206
907
6,487
7,808
5,543
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
21,983
4,558
9,909
1,985
377
4,778
104,836
22,081
846
8,104
10,866
5,440
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
1,670
448
74
318
0
343
487
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
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
10,092
9,014
801
277
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
13,172
12,481
615
76
72 Nonmonetary international and regional organizations"
5,071
5,976
7,250
7,464
5,832
6,644
7,445
8,937
6,091
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
Jan.
1 Total claims reported by banks
Feb.
1 911 829
74,163
1,416,140
421,526
2 000 266
73,635
1,494,944
431,687
Mar.
Apr.
May
2 085 647
76,322
1,576,751
432,574
2 146 621
82,403
1,611,421
452,797
1,596,965
2,026,841
2,282,697'
1 322 363
53,328
979,597
289,438
1 664 223
71,892
1,187,954
404,377
1 854 203
72,871
1,385,990
395,342
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
743,280
2,804
808,940
3,376
836,778
2,387
830,993
2,679
862,619
2,210
922,213
1,990
14 Other claims7
5,328
816,574
934 166
3,888
988,110
1 097 873
7,276
1,100,843
1 299 067
8,642
1,090,871
1 334 657
10,520
1,150,581
1 395 887
9,783
1,155,965
1 433 195
11,883
1,208,935
1 487 031
344,753
479,422
476,331
507,115
544,258
516,346
505,617
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
2,472,126'
1 999 420
73,577
1,496,169
429,674
June
July'
2,552,650
472,706'
206,572'
91,927'
153,504'
20,703'
2 039 625'
86,892
1,528,966'
423,767'
2 064 923
93,375
1,548,733
422,815
513,025
224,590
109,664
154,917
23,854
MEMO
898,805'
891,853
11,619
1,210,799
1 534 484
1,129,739'
1 471 012'
1,159,417
1 431 677
521,137
478,954'
489,266
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 • September 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
95,601'
99,366
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
58,140'
6,252
58,487
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
8,075'
35,338
9,393
35,502
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
43,779'
14,361'
2,354
4,052
2,284'
2,018
3,653
43,411
15,076
1,407
6,242
2,676
1,338
3,413
39,561
43,610
62,847
62,847
51,809
35,918
29,347
36,451'
34,274
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
20,203'
342
761
2,533
406
122
10,220'
16,719
451
597
3,062
432
237
9,648
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
9,613
0
769
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
5,321
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
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
6,134
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 • September 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
180,277'
183,943
169,893
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
149,151'
49,729'
11,845
150,387
50,149
13,180
135,243
40,590
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
82,288
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
52,929
5,732
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
111,343'
37,808
10,837
10,256
8,695
3,880
4,140
114,795'
35,592'
9,348
9,308
7,635
3,537
5,764'
101,124
34,119
7,823
8,160
8,325
3,510
6,301
71,389
67,347
110,517
110,517
113,673
97,140
104,213'
111,394
94,843
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
42,736'
1,743
2,752
2,729
3,033
1,152
22,111'
36,023
1,286
1,639
2,315
3,148
1,441
20,096
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
39,763'
3,676'
1,113
1,664
n.a.
30,263'
1,950
156
45,063'
1,590
1,590'
1,950
n.a.
36,355
2,019
159
37,323
2,368
1,572
1,655
n.a.
29,238
1,424
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
6,566
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
2004
Type of claim, and area or country
2002
2003
2006
2005
2004
Dec.
40 Commercial claims
42
43
44
45
46
47
48
49
50
Advance payments and other claims
By currency
Payable in U.S. dollars
Payable in foreign currencies2
Canadian dollars
Euros
United Kingdom pounds sterling
Japanese yen
All other currencies
By area or country
Commercial claims
Europe
52
France
54
55
56
Netherlands
Switzerland
United Kingdom
Mar.
June
Sept.
Dec.
Mar.
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
n.a.
n.a.
n.a.
n.a.
n.a.
25,494
8,075
1,557
1,542
1,187
589
3,200
27,439
5,276
512
1,561
1,586
238
1,379
27,439
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
2,677
14,479
480
2,308
1,472
648
743
4,601
MEMO
57
Euro area3
8,849
7,340
6,890
6,890
7,766
7,412
6,739
7,663
7,922
58
Canada
2,790
3,070
2,017
2,017
2,137
2,139
2,001
2,750
2,323
59
Latin America and Caribbean
4,346
31
287
750
19
n.a.
1.259
288
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
1 946
2 806
1 192
1 192
1 132
1 009
1 069
1 062
1 097
64,985
54,464
54,464
53,531
47,361
44,938
38,993
40,400
61
62
63
Bermuda
Brazil
British West Indies4
65
Mexico
68
69
Japan
Middle Eastern oil-exporting countries5
70
Africa
72
All other7
731
865
n.a.
200
2,154
373
MEMO
73
Financial claims on foreign affiliates5
n.a.
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 • September 2006
3.24
FOREIGN TRANSACTIONS IN SECURITIES
Millions of dollars
Transaction, and area or country
Jan.July
Apr.
U.S. corporate securities
STOCKS
1 Foreign purchases
3,501,491
3,428,857
3.862.043
2 Foreign sales
436,362
419,842
513,677
494,543
456,731'
450,138
609,929
607,228
551,041
555,012
478,553
468,120
10,433
16,520
19,134
28,616
79,655
72,598
21,220
16,514
19,115
6,590r
2,699
-3,971
10,431
19.571
-876
-2.360
1,697
-1.194
15,208
-180
1,292
631
6,485
-320
2,832
-41
998
37,270
6,877
-3,278
-2,315
1,351
18,109
350
16,558
15,280
1,791
8,378
72
309
69
45,567
8,292
-3,866
-2,258
2,213
25,669
1,353
9,406
5,467
7,618
3,759
1,324
249
532
13,390
5,277
-629
811
920
4,586
21
755
3,501
1,034
2,206
1,547
32
302
12,415
1,125
1,464
-835
1,493
8,397
-93
536
3,468
318
-432
-43
70
139
14,958
247
1,319
-472
570
12,456
70
3,179
452
973
-363
-783
-16
-68
5,570'
3,936
-707
-1,024
-44
-920
-43
-535
-1,355
3,324
-639
-117
101
124
-1,316
-1,621
-912
-766
-517
67
762
1,275
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
1,627,686
1,215,673
207,955
153,546
233,389
168,066
246,151
178,404
223,992'
171,947
269,797
196,516
241,638'
179,942'
204,764
167,252
79,612
3 Net purchases, or sales (-)
4 Foreign countries
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
455,198
433,974
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
2,701
BONDS 3
20 Foreign purchases
21 Foreign sales
1.844.895
37,512
65,323
67,747
533,422
588,768
410,778
54,012
65,019
67,442
51,968'
73,103
61,562'
37,672
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
297,218
13,612
12,426
4,026
1,771
209,694
16,624
14,763
80,460
2,832
186,231
84,818
291
6,973
199,729
4,517
6,980
857
3,089
142,918
5,281
10,904
62,186
8,088
122,754
34,783
-40
7,157
21,238
-1,814
2,027
4
184
14,040
1,396
357
10,381
667
21,107
7,070
-91
353
30,938
1,453
1,178
-126
693
22,739
502
1,655
9,977
717
20,896
4,968
-126
962
41,319
1,541
1,505
323
608
32,964
395
3,509
6,312
708
13,049
1,291
90
2,455
28.223'
884
1.038
333
46
19.903'
714
108
5,903
1,394
14,341
4,000
62
1,937
36,286
405
819
222
-563
24,732
1,428
1,694
11,526
1,737
21,668
9,027
-73
265
36,123'
388'
1,070
88
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
7
257
2,479
3,125
1,235
-8,098
268,954
277,052
-6,019
129,758
135,777
-4,926
369,441
374,367
-15,644
168,141
183,785
717
305,885
305,168
-10,341
139,731
150,072
-2,908
245,933
248,841
-18,687
118,995
137,682
591,893
22 Net purchases, or sales (-)
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
73,281
Foreign securities
-49,485
1,986,765
2,036,250
-60,595
1,003,001
1,063,596
-10,414
239,623
250,037
-2,621
139,650
142,271
-11,861
267,433
279,294
-158
141,136
141,294
-11,995
289,496
301,491
-7,125
165,590
172,715
-172,622
-110,080
-13,035
-12,019
-19,120
-14,117
-20,570
-9,624
-21,595
-165,634
-109,808
-12,938
-11,802
-19,558
-14,200
-20,511
-9,575
-21,224
-82,095
-4,818
-18,371
-44,970
-32,827
-1,672
-13,708
-91,703
-10,573
256
-3 637
6,831
-1,760
-2,391
-845
-3,219
-1,372
-6,711
-1,892
-277
-514
-5,562
-1,498
176
-4,511
-164
-270
-137
-11,766
-2,448
-566
-3,965
-369
-504
-309
-5,875
-3,131
1,697
-3,803
434
-1,312
-1,776
-22,590
-853
-1,937
4 770
4,515
128
-29
-20,808
2,051
2,049
7,650
3,178
155
-672
-24,257
-1,475
209
2 933
1,129
320
1,046
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
-127,485
2,222,011
2,349,496
-45,137
1,459,374
1,504,511
45 Net purchases, or sales (-), of stocks and bonds . .
-152,842
46 Foreign countries
-141,025
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
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).
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.July
Apr.
May
July-
1 Total estimated
352,079
339,167
72,352
4,478
20,782
1,977
3,356
8,185
26,987'
2 Foreign countries
351,360
336,215
71,304
4,053
21,044
2,303
2,950
7,425
27,313'
6,216
88,431
118
8,804
-575
-3,153
3,236
5,342
78,661
1,175
-5,177
16,098
173,639
500
14,497
2,046
-6,095
1,832
-4,904
134,118
419
31,226
21,419
28,492
852
-145
-496
-1,236
2,105
17
43,855
335
-16,795
13,493
11,476
367
-1,616
-246
-130
1,168
-430
10,135
381
1,847
1,835
4,945
119
-621
-55
-715
-349
478
5,436
-47
699
3,428
4,934
162
-1,878
127
434
796
94
16,077
155
-11,033
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
22,625'
-350
1,158
-551
519
10
59
26,311
1
-4,532'
563
-2,614
101
1,139
84
-1,112
191
-289
-11,383
76
8,579
779
33,544
-15
21,963
11,596
214,788
166,377
677
69,669
518
68,312
839
68,100
-5,955
2,222
1,166
-3,440
-31
-5,914
2,505
32,411
-13,852
2,749
-2,401
-11,366
-119
-11,602
355
3,472
-13,040
102
-1,466
-9,284
52
-8,799
-537
21,335
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
2,952
2,555
1,048
704
-2
425
391
0
-262
-326
-321
0
406
316
0
760
566
0
-326
-411
0
371
383
0
351,360
201,140
150,220
336,215
69,198
267,017
71,304
14,611
56,693
4,053
8,287
-4,234
21,044
12,450
8,594
2,303
-7,255
9,558
2,950
10,961
-8,011
7,425
-13,635
21,060
27,313'
-4,437
31,750'
6,216
8,240
-2,024
9,041
249
2,063
2,027
7,240
3,054
2,177
253
965
844
1,020
147
611
366
728
258
1,606
769
133
417
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
6,587
MEMO
25 Foreign countries
26
Official institutions
27
Other foreign
Oil-exporting countries
28 Middle East4
29 Africas
1. Official and private transactions in marketable U.S. Treasury securities having an
original maturity of more than one year. Data are based on monthly transactions reports.
Excludes nonmarketable U.S. Treasury bonds and notes held by official institutions of foreign
countries.
2. Before January 2001, combined data reported for Belgium and Luxembourg.
3. Before January 2001, these data were included in the data reported for the United
Kingdom.
4. Comprises Bahrain, Iran, Iraq, Kuwait, Oman, Qatar, Saudi Arabia, and United Arab
Emirates (Trucial States).
5. Comprises Algeria, Gabon, Libya, and Nigeria.
56
Federal Reserve Bulletin Statistical Supplement • September 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
Feb.
Mar.
Apr.
May
June
July
73.69
2.1281
1.1441
8.0143
6.0798
1.2273
7.7561
44.82
117.07
3.6626
11.049
62.20
6.3922
1.6008
6.0811
952.60
102.635
7.6005
1.2830
32.288
37.952
176.80
2,144.60
76.39
2.1697
1.1100
8.0131
5.8398
1.2767
7.7538
45.20
111.73
3.6091
11.091
63.11
6.1040
1.5755
6.3128
940.82
102.838
7.3050
1.2190
31.737
37.947
186.87
2,144.55
73.99
2.2493
1.1137
8.0042
5.8897
1.2661
7.7636
45.89
114.63
3.6638
11.393
61.90
6.2070
1.5912
6.9738
954.45
103.525
7.2949
1.2321
32.440
38.349
184.35
2,144.60
75.28
2.1883
1.1294
7.9897
5.8826
1.2681
7.7734
46.37
115.77
3.6679
10.983
61.78
6.2617
1.5837
7.0688
950.81
103.957
7.2654
1.2376
32.617
37.969
184.43
2,144.57
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
65.24
3.0750
1.4008
8.2772
6.5774
1.1321
7.7875
46.59
115.94
3.8000
10.793
58.22
7.0803
1.7429
7.5550
1,192.08
96.541
8.0787
1.3450
34.405
41.556
163.47
1,613.43
73.65
2.9262
1.3017
8.2768
5.9891
1.2438
7.7891
45.26
108.15
3.8000
11.290
66.43
6.7399
1.6902
6.4402
1,145.24
101.268
7.3480
1.2428
33.372
40.271
183.30
1,886.13
76.27
2.4352
1.2115
8.1936
5.9953
1.2449
7.7775
44.00
110.11
3.7869
10.894
70.49
6.4412
1.6639
6.3606
1,023.75
100.383
7.4710
1.2459
32.131
40.252
182.04
2,107.13
74.18
2.1587
1.1489
8.0512
6.2514
1.1940
7.7593
44.23
117.86
3.7276
10.484
67.35
6.7526
1.6286
6.1153
969.84
102.194
7.8226
1.3052
32.319
39.343
174.80
2,144.62
72.66
2.1528
1.1573
8.0350
6.2025
1.2028
7.7591
44.34
117.28
3.7040
10.749
63.42
6.6317
1.6211
6.2436
974.71
102.648
7.8109
1.3050
32.459
38.947
174.42
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
110.46
85.22
110.63
85.17
109.83
84.05
107.45
80.78
108.76
81.67
108.51
82.09
143.54
143.39
138.90
135.35
135.88
135.80
135.56
137.38
135.91
104.27'
97.56'
99.64'
90.60'
98.10'
90.49'
97.92'
92.99'
98.44'
93.03'
98.27'
92.10'
96.46'
88.66'
97.86'
89.83'
97.86
90.62
122.47'
121.11'
117.34'
113.31'
114.55'
115.42'
115.81'
117.67'
116.53
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
Federal Reserve Bulletin Statistical Supplement • September 2006
4.20
DOMESTIC AND FOREIGN OFFICES Insured Commercial Bank Assets and Liabilities
Consolidated Report of Condition, June 30, 2006
Millions of dollars except as noted
Domestic
total
1 Total assets
2 Cash and balances due from depository institutions
3
Cash items in process of collection, unposted debits, and currency and coin
4
Cash items in process of collection and unposted debits
5
Currency and coin
6
Balances due from depository institutions in the United States
7
Balances due from banks in foreign countries and foreign central banks
8
Balances due from Federal Reserve Banks
9 Total securities, held-to-maturity (amortized cost) and available-for-sale (fair value)
10
U.S. Treasury securities
11
U.S. government agency and corporation obligations (excludes mortgage-backed
securities)
12
Issued by U.S. government agencies
13
Issued by U.S. government-sponsored agencies
14
Securities issued by states and political subdivisions in the United States
15
Mortgage-backed securities (MBS)
16
Pass-through securities
17
Guaranteed by GNMA
18
Issued by FNMA and FHLMC
19
Other pass-through securities
20
Other mortgage-backed securities (includes CMOs, REMICs, and stripped MBS)
21
Issued or guaranteed by FNMA, FHLMC or GNMA
22
Collateralized by MBS issued or guaranteed by FNMA, FHLMC, or GNMA
23
All other mortgage-backed securities
24 Asset-backed securities
25
Credit card receivables
26
Home equity lines
27
Automobile loans
28
Other consumer loans
29
Commercial and industrial loans
30
Other
31
Other debt securities
32
Other domestic debt securities
33
Foreign debt securities
34
Investments in mutual funds and other equity securities with readily determinable
fair value
Banks with foreign offices'
Banks with
domestic
offices only 2
9,449,283
8,233,853
6,726,141
5,510,711
2,723,142
394,037
277,137
n. a.
n. a.
n. a.
n. a.
n. a.
n. a.
303,442
141,953
186,542
137,903
110,872
27,030
28,112
7,620
12,906
90,596
n.a.
n.a.
31,675
116,862
12,952
1,605,372
41,611
n. a.
n. a.
1,087,764
28,873
517,608
12,738
244,140
10,645
233,494
124,846
955,155
648,948
28,099
600,051
20,798
306,207
149,170
9,866
147,171
83,564
12,958
32,809
8,507
7,734
3,605
17,342
141,846
36,019
105,827
n. a.
n. a.
n. a.
74,813
169,327
6,976
67,837
50,624
729,198
536,770
17,052
500,741
18,977
192,427
84,147
7,236
101,044
76,628
11,549
31,987
7,814
7,597
3,299
14,383
118,015
20,790
97,226
3,669
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
225,957
112,178
11,047
99,310
1,821
113,779
65,023
2,629
46,127
6,936
1,409
823
693
138
306
2,959
23,831
15,229
8,601
4,597
9,613
14,210
165,658
74,222
480,067
132,326
347,741
273,642
132,326
141,317
392,554
74,331
318,223
186,130
74,331
111,799
87,512
57,995
29,518
38 Total loans and leases (gross) and lease-financing receivables (net)
39
LESS: Unearned income on loans
40
LESS: Loans and leases held for sale
41 Total loans and leases (net of unearned income)
42
LESS: Allowance for loan and lease losses
43 Loans and leases, net of unearned income and allowance
5,572,955
2,225
213,997
5,356,733
67,130
5,289,603
5,177,275
1,984
3,709,270
994
3,537,834
41,909
3,495,926
3,313,590
753
n.a.
n.a.
n.a.
n.a.
1,863,686
1,232
43,555
1,818,899
25,222
1,793,677
Total loans and leases, gross, by category
44 Loans secured by real estate
45
Construction and land development
46
Farmland
47
One- to four-family residential properties
48
Revolving, open-end loans, extended under lines of credit
3,125,209
n.a.
n.a.
n.a.
n.a.
3,069,779
444,873
49,847
1,865,454
1,810,023
1,721,510
451,652
1,229,607
354,742
1,259,755
244,184
41,619
491,903
96,911
n.a.
n.a.
n.a.
n.a.
160,754
n.a.
n.a.
n.a.
52,247
1,138,829
131,029
787,678
35 Federal funds sold and securities purchased under agreements to resell
36
Federal funds sold in domestic offices
37
Securities purchased under agreements to resell
66
67
68
69
70
71
Closed-end loans secured by one- to four-family residential properties
Secured by first liens
Secured by junior liens
Multifamily (five or more) residential properties
Nonfarm n on residential properties
Loans to depository institutions and acceptances of other banks
Commercial banks in the United States
Other depository institutions in the United States
Banks in foreign countries
Loans to finance agricultural production and other loans to farmers
Commercial and industrial loans
U.S. addressees (domicile)
Non-U.S. addressees (domicile)
Loans to individuals for household, family, and other personal expenditures (includes
purchased paper)
Credit cards
Other revolving credit plans
Other consumer loans (including single-payment, installment, and all student loans)
Obligations (other than securities) of states and political subdivisions in the United States
(includes nonrated industrial development obligations)
All other loans
Loans to foreign governments and official institutions
Other loans
Loans for purchasing and carrying securities
All other loans (excludes consumer loans)
Lease-financing receivables
72
73
74
75
76
77
78
79
80
Trading assets
Premises and fixed assets (including capitalized leases)
Other real estate owned
Investments in un con soli dated subsidiaries and associated companies
Net due from own foreign offices, Edge Act and agreement subsidiaries, and IBFs
Intangible assets
Goodwill
Other intangible assets
All other assets
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
170,442
200,688
8,229
87,187
47,547
98,525
755,024
323,952
157,342
133,866
59,404
64,274
33,663
137,278
58,880
64,274
51,215
930,400
13,230
789,114
629,164
159,950
10,711
12,198
630,616
617,719
12,897
791,717
302,622
42,502
446,593
700,628
266,208
30,634
403,786
574,338
202,867
38,591
332,879
483,248
166,453
26,723
290,072
31,954
186,547
3,591
182,956
n.a.
n.a.
135,629
31,946
133,472
567
132,905
21,867
166,059
3,577
162,482
21,860
112,983
553
112,431
19,991
92,440
108,795
n.a.
n.a.
596,341
92,963
4,806
11,649
n.a.
338,924
248,713
90,211
421,524
351,151
43,841
50,977
431,072
3,413
121,866
579,411
52,223
2,400
11,082
n.a.
294,697
214,922
79,775
336,199
n.a.
n.a.
n.a.
n.a.
60,558
n.a.
n.a.
n.a.
n.a.
39,017
299,783
217,380
99,755
3,911
113,714
10,086
20,489
14
20,474
13,762
16,930
40,739
2,406
567
n.a.
44,226
33,790
10,436
85,325
Special Tables
4.20
59
DOMESTIC AND FOREIGN OFFICES Insured Commercial Bank Assets and Liabilities—Continued
Consolidated Report of Condition, June 30, 2006
Millions of dollars except as noted
Domestic
total
Banks with foreign offices'
Banks with
domestic
offices only2
81 Total liabilities, minority interest, and equity capital
9,449,283
82 Total liabilities
8,484,590
7,271,202
6,048,788
4,835,401
2,435,801
83 Total deposits
84
Individuals, partnerships, and corporations (include all certified and official checks) . . . .
85
U.S. government
86
States and political subdivisions in the United States
87
Commercial banks and other depository institutions in the United States
88
Banks in foreign countries
89 Foreign governments and official institutions (including
foreign central banks)
6,323,052
5,722,963
5,255,719
4,900,247
2,818
260,089
64,046
24,155
4,307,315
3,861,769
n.a.
n.a.
90.662
143,540
3,239,982
3,039,053
1,991
130,894
39,765
23,962
2,015,737
1,861,194
827
129,195
24,281
193
4,364
77,720
90
91
92
93
94
95
96
97
98
99
100
101
102
103
104
Total transaction accounts
Individuals, partnerships, and corporations (include all certified and official checks) . .
U.S. government
States and political subdivisions in the United States
Commercial banks and other depository institutions in the United States
Banks in foreign countries
Foreign governments and official institutions (including foreign central banks) . . . .
114,943
143,733
n.a.
n.a.
n.a.
n.a.
716,033
608,528
1,243
69,641
30,911
5,347
362
n.a.
n.a.
n.a.
4,317
383,427
318,099
859
34,641
24,211
5,263
353
47
332,606
290,429
384
35,000
6,700
84
9
522,154
Total demand deposits
Total n on transaction accounts
Individuals, partnerships, and corporations (include all certified and official checks) . .
U.S. government
States and political subdivisions in the United States
Commercial banks and other depository institutions in the United States
Banks in foreign countries
Foreign governments and official institutions (including foreign central banks)
6,726,141
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
105 Federal funds purchased and securities sold under agreements to repurchase
106
Federal funds purchased in domestic offices
107
Securities sold under agreements to repurchase
108 Trading liabilities
109 Other borrowed money (includes mortgage indebtedness and obligations under capitalized
leases)
110 Subordinated notes and debentures to deposits
111 Net due to own foreign offices, Edge Act and agreement subsidiaries, and IBFs
112 All other liabilities
113 Minority interest in consolidated subsidiaries
719,746
181,332
538,414
273,571
114 Total equity capital
310,173
211,982
4,539,686
4,291,719
1,575
190,447
33,134
2,856,555
2,720,954
1,132
96,253
15,554
18,698
3,964
1,683,131
1,570,764
443
94,195
17,581
110
38
608,611
133,027
475,584
272,383
503,812
133,027
370,785
n.a.
111,135
48,305
62,830
1,188
498,642
124,505
n.a.
237,333
13,352
408.257
n.a.
315.132
n.a.
n.a.
265,308
7,722
n.a.
34,712
1,432
4,002
614,947
181,332
433,615
949,909
763,950
132,227
n.a.
272,045
14,783
n.a.
285,908
MEMO
115 Trading assets at large banks2
116
U.S. Treasury securities (domestic offices)
117
U.S. government agency obligations (excluding MBS)
118
Securities issued by states and political subdivisions in the United States
119
Mortgage-backed securities
120
Other debt securities
121
Other trading assets
122
Trading assets in foreign offices
123
Revaluation gains on interest rate, foreign exchange rate, and other
commodity and equity contracts
124 Total individual retirement (IRA) and Keogh plan accounts
125 Total brokered deposits
126
Fully insured brokered deposits
127
Issued in denominations of less than $100,000
128
Issued in denominations of $100,000, or in denominations greater than $100,000 and
participated out by the broker in shares of $100,000 or less
129 Money market deposit accounts (MMDAs)
130 Other savings deposits (excluding MMDAs)
131 Total time deposits of less than $100,000
132 Total time deposits of $100,000 or more
133 Number of banks
NOTE. The notation "n.a." indicates the lesser detail available from banks that do not have
foreign offices, the inapplicability of certain items to banks that have only domestic offices, or
the absence of detail on a fully consolidated basis for banks that have foreign offices.
1. All transactions between domestic and foreign offices of a bank are reported in "net due
from" and "net due to" lines. All other lines represent transactions with parties other than the
domestic and foreign offices of each bank. Because these intra-office transactions are nullified
by consolidation, total assets and total liabilities for the entire bank may not equal the sum of
assets and liabilities, respectively, of the domestic and foreign offices.
595,936
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
257.528
276,597
29,323
6,862
4,553
20,899
51,772
65,416
0
159,583
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
7,454
260,064
29,062
6,199
4,417
17,837
40,206
65,268
0
16,534
261
663
136
3,062
11,566
148
0
97,772
182,452
403,040
223,322
96^966
97,074
84,598
226,415
96,767
55,283
698
97,853
176,625
126,556
41,683
126,356
2,042,512
718,400
813,556
965,218
41,484
1,448,256
464,117
370,863
573,319
84,872
594,257
254,282
442,693
391,899
7,454
257,528
7,335
Foreign offices include branches in foreign countries, Puerto Rico, and U.S.-affiliated
insular areas; subsidiaries in foreign countries; all offices of Edge Act and agreement
corporations wherever located; and international banking facility (IBF).
2. Components of "Trading Assets at Large Banks" are reported only by banks that
reported trading assets of $2 million or more any quarter of the preceding calendar year.
60
Federal Reserve Bulletin Statistical Supplement • September 2006
4.46
SMALL LOANS TO BUSINESSES AND FARMS, 1999-2005
Company
Total business loans
1 Number
2 Amount (thousands of dollars)
Percent to small firms'
3
Number
4
Amount
Total farm loans
5 Number
6 Amount (thousands of dollars)
Percent to small farms'
7
Number
8
Amount
11
12
Activity ofCRA reporters (percent)2
All small loans to businesses
Number
Amount
All small loans to farms2
Number
Amount
13
14
15
16
Distribution of business loans
by asset size of lender
Number (percent)
Less than 100
100 to 249
250 to 999
1,000 or more
9
10
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
Total
Amount (percent)
Less than 100
100 to 249
250 to 999
1,000 or more
Total
Distribution of farm loans
by asset size of lender
Number (percent)
Less than 100
100 to 249
250 to 999
1,000 or more
Total
Amount (percent)
Less than 100
100 to 249
250 to 999
1,000 or more
Total
Distribution of business loans
by income of census tract3
Number
Low
Moderate
Middle
Upper
Income not reported
Total
Amount
Low
Moderate
Middle
Upper
Income not reported
Total
2001
2000
1999
3 287 974
174,538,571
60.2
48.5
220,587
12,302,881
5,110,001
179,056,204
2002
6,094,606
224,914,485
41.7
45.9
204,318
11,634,880
7,556,999
253,225,288
43.7
45.6
235,417
14,330,467
2003
31.0
44.2
256,117
16,222,070
2004
8,004,463
278,612,596
37.8
45.8
288,739
17,297,590
2005
8,111,492
293,745,569
37.6
44.2
292,451
18,141,412
7,951,110
271,615,447
47.4
45.3
218,891
12,698,385
90.6
83.7
90.2
83.8
90.0
83.6
88.5
83.0
88.8
83.0
84.4
77.6
82.6
77.5
67.8
72.4
83.7
75.6
84.0
75.0
88.0
76.9
90.5
77.1
78.4
74.1
73.2
65.1
28.0
34.1
30.6
37.5
32.3
38.2
32.2
38.1
33.3
38.5
36.0
39.0
25.0
27.1
1.0
1.4
15.9
81.8
0.5
0.8
18.8
79.8
0.4
13.8
13.2
72.6
0.1
0.5
25.1
74.3
0.1
0.4
12.5
86.9
0.1
0.5
9.9
89.6
0.1
0.3
2.6
97.0
100
1.0
2.2
21.6
75.2
100
4.9
6.6
37.7
50.8
100
4.0
5.6
36.3
54.1
100
3.6
14.6
50.1
31.2
0.4
100
5.0
15.5
47.1
31.7
0.7
100
0.6
2.0
23.0
74.4
100
2.2
4.8
46.7
46.3
100
1.7
4.0
42.7
51.5
100
3.6
14.6
50.2
31.2
0.4
100
4.9
15.4
47.6
31.5
0.5
100
1.0
2.7
21.8
74.5
100
1.2
3.4
42.7
52.6
100
0.9
2.8
38.8
57.5
100
4.0
15.2
50.1
30.3
0.4
100
4.9
15.2
47.6
31.7
0.6
100
0.4
1.6
23.6
74.4
100
1.0
2.5
49.1
47.4
100
0.7
43.2
53.8
100
3.7
15.2
50.5
30.3
0.4
100
4.7
15.2
47.9
31.7
0.6
100
0.4
1.5
22.6
75.6
100
1.5
2.5
44.2
51.8
100
1.2
2.4
44.6
51.8
100
3.6
17.0
47.6
31.6
0.2
100
4.4
17.9
45.4
31.9
0.4
100
0.3
1.0
20.6
78.1
100
0.7
3.5
44.6
51.1
100
0.7
3.0
44.0
52.3
100
3.5
16.7
47.7
32.0
0.2
100
4.3
17.8
45.1
32.4
0.4
100
0.1
0.4
9.3
90.2
100
0.4
0.9
20.7
78.0
100
0.4
1.0
23.5
75.1
100
3.2
16.4
47.3
33.0
0.2
100
4.3
17.5
44.2
33.5
0.4
100
100
100
100
100
100
100
1,450
461
1,471
470
1,443
469
1,495
491
1,635
468
1,658
341
891
212
1,911
1,941
1,912
1,986
2,103
1,999
1,103
MEMO
45
46
47
Number of reporters
Commercial banks
Savings institutions
Total
1. Businesses and farms with revenues of $1 million or less.
2. Percentages reflect the ratio of activity by CRA reporters to activity by all lenders.
Calculations based on information reported in the June Call Reports except that calculations
for savings associations are based on information reported in the June Thrift Financial
Reports.
3. Low income: census tract median family income less than 50 percent of MSA/MD
median family income or nonmetropolitan portion of state median family income; moderate
income: 50-79 percent; middle income: 80-120 percent; upper income: 120 percent or more.
Excludes loans where census tract was not reported.
SOURCE: FFIEC
Loans to Businesses and Farms
4.47
61
ORIGINATIONS AND PURCHASES OF SMALL LOANS TO BUSINESSES AND FARMS, 2005
By Size of Loan
MEMO
Size of loan (dollars)
Loans to firms
All oans
Type of borrower and loan
100,000 or less
Total
Percent
Total
of$l million
or ess
More tha l 250,000
100,001 to 250,000
Percent
Total
Percent
Total
Percent
Total
Percent
Number of loans
Business
2 Purchases
7,430,991
30,167
93.8
91.3
244,924
1,184
3.1
3.6
242,147
1,697
3.1
5.1
7,918,062
33,048
100
100
3,769,093
2,612
47.6
7.9
3
7,461,158
93.8
246,108
3.1
243,844
3.1
7,951,110
100
3,771,705
47.4
5 Purchases
183,070
501
83.9
84.8
24,352
42
11.2
7.1
10,878
48
5.0
8.1
218,300
591
100
100
180,596
274
82.7
46.4
6
183,571
83.9
24,394
11.1
10,926
5.0
218,891
100
180,870
82.6
7,614,061
30 668
93.6
91 2
269,276
1 226
3.3
36
253,025
1 745
3.1
52
8,136,362
33 639
100
100
3,949,689
2 886
48.5
86
7,644,729
93.6
270,502
3.3
254,770
3.1
8,170,001
100
3,952,575
48.4
Total
Farm
Total
All
7 Originations
9
Total
Amount of loans (thousands of do lars)
Business
10 Originations
11 Purchases
97,178,645
864,410
36.0
43.1
43,177,142
200,693
16.0
10.0
129,256,387
938,170
47.9
46.8
269,612,174
2,003,273
100
100
122,801,219
260,610
45.5
13.0
12
98,043,055
36.1
43,377,835
16.0
130,194,557
47.9
271,615,447
100
123,061,829
45.3
14 Purchases
4,523,900
15,864
35.7
38.6
4,126,645
7,031
32.6
17.1
4,006,704
18,241
31.7
44.3
12,657,249
41,136
100
100
9,815,938
22,058
77.6
53.6
15
4,539,764
35.8
4,133,676
32.6
4,024,945
31.7
12,698,385
100
9,837,996
77.5
17 Purchases
101,702,545
880,274
36.0
43.1
47,303,787
207,724
16.8
10.2
133,263,091
956,411
47.2
46.8
282,269,423
2,044,409
100
100
132,617,157
282,668
47.0
13.8
18
102,582,819
36.1
47,511,511
16.7
134,219,502
47.2
284,313,832
100
132,899,825
46.7
Total
Farm
Total
All
Total
SOURCE: EFIEC
62
Federal Reserve Bulletin Statistical Supplement • September 2006
4.48
ORIGINATIONS AND PURCHASES OF SMALL LOANS TO BUSINESSES AND FARMS, 2005
By Type of Borrower and Loan, Distributed by Size of Lending Institution
Institutions, by asset s ze (millions of dollars)
All institutions
Type of borrower and loan
Less than 100
Total
Percent
250 to 999
100 to 249
Total
Percent
Total
1,000 or more
Percent
Total
Percent
Total
Percent
Number of loans
Business
1 Originations
0.3
0.2
209,410
751
2.6
2.3
7,683,783
32,238
97.0
97.5
7,918,062
33,048
4,451
0.1
20,477
0.3
210,161
2.6
7,716,021
97.0
7,951,110
802
0
0.4
0.0
2,003
1
0.9
0.2
45,033
287
20.6
48.6
170,462
303
78.1
51.3
218,300
591
802
0.4
2,004
0.9
45,320
20.7
170,765
78.0
218,891
8 Purchases
5,247
6
0.1
0.0
22,427
54
0.3
0.2
254,443
1,038
3.1
3.1
7,854,245
32,541
96.5
96.7
8,136,362
33,639
9
5,253
0.1
22,481
0.3
255,481
3.1
7,886,786
96.5
8,170,001
3
Total
Farm
4 Originations
6
Total
All
Total
o o o
o o o
20,424
53
o o o
o o o
0.1
0.0
o o o
o o o
4,445
6
Amount of loans (thousands of dollars)
Business
0.4
1.1
24,983,122
195,388
9.3
9.8
243,170,510
1,784,575
90.2
89.1
269,612,174
2,003,273
12
361,279
0.1
1,120,573
0.4
25,178,510
9.3
244,955,085
90.2
271,615,447
56,649
0
0.4
0.0
121,449
250
1.0
0.6
2,956,640
25,093
23.4
61.0
9,522,511
15,793
75.2
38.4
12,657,249
41,136
56,649
0.4
121,699
1.0
2,981,733
23.5
9,538,304
75.1
12,698,385
416,385
1,543
0.1
0.1
1,220,255
22,017
0.4
1.1
27,939,762
220,481
9.9
10.8
252,693,021
1,800,368
89.5
88.1
282,269,423
2,044,409
417,928
0.1
1,242,272
0.4
28,160,243
9.9
254,493,389
89.5
284,313,832
Total
Farm
13 Originations
15
Total
All
16 Originations
18
Total
MEMO
19 Number of institutions reporting
20 Number of institutions extending loans . .
SOURCE: FFIEC
15
12
42
42
501
487
545
497
1,103
1,038
o o o
o o o
1,098,806
21,767
o o o
o o o
0.1
0.1
o o o
o o o
359,736
1,543
. .
..
11 Purchases
Community Reinvestment
4.49
COMMUNITY DEVELOPMENT LENDING, 2005
Amount of loans
(thousands of dollars)
Number of loans
MEMO: CRA reporters
Asset size of lender
(millions of dollars)
Community development loans
Total
1
2
3
4
5
63
Institution assets
Less than 100
100 to 249
250 to 999
1,000 or more
All
Percent
Total
Percent
Number
Percent
190
2,800
28,588
31,600
0.1
0.6
8.9
90.5
100.0
101,673
121,549
1,803,639
50,468,199
52,495,060
0.2
0.2
3.4
96.1
100.0
15
42
501
545
1,103
1.4
3.8
45.4
49.4
100.0
270
0.9
1,901,613
3.6
Number
extending
Percent
extending
2
19
333
459
813
0.2
2.3
41.0
56.5
100.0
9
1.1
MEMO
6 Lending by all affiliates
SOURCE: FFIEC
64
Index to Statistical Tables
ASSETS and liabilities (See also Foreigners)
Commercial banks, 15-21, 58-59
Domestic finance companies, 30, 31
Federal Reserve Banks, 10
Foreign-related institutions, 20
Automobiles
Consumer credit, 34
Production, 42, 43
BANKERS balances, 15-21 (See also Foreigners)
Bonds (See also U.S. government securities)
New issues, 29
Rates, 23
Business loans (See Commercial and industrial loans)
CAPACITY utilization, 40, 41
Capital accounts
Commercial banks, 15-21, 58-59
Federal Reserve Banks, 10
Certificates of deposit, 23
Commercial and industrial loans
Business and farms, loans to, 60-2
Commercial banks, 15-21, 58-59
Weekly reporting banks, 17, 18
Commercial banks
Assets and liabilities, 15-21, 58-59
Commercial and industrial loans, 15-21, 58-59, 60-62
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
Community development loans, under CRA, 63
Condition statements (See Assets and liabilities)
Consumer credit, 34
Corporations
Security issues, 29, 55
Credit unions, 34
Currency in circulation, 5, 13
Customer credit, stock market, 24
DEBT (See specific types of debt or securities)
Demand deposits, 15-21
Depository institutions
Reserve requirements, 8
Reserves and related items, 4—6, 12
Deposits (See also specific types)
Commercial banks, 4, 15-21, 58-59
Federal Reserve Banks, 5, 10
Discount rates at Reserve Banks and at foreign central banks and
foreign countries (See Interest rates)
Discounts and advances by Reserve Banks (See Loans)
Federal Reserve Banks
Condition statement, 10
Discount rates (See Interest rates)
U.S. government securities held, 5, 10, 11, 25
Federal Reserve credit, 5, 6, 10, 12
Federal Reserve notes, 10
Federally sponsored credit agencies, 28
Finance companies
Assets and liabilities, 30
Business credit, 31
Loans, 34
Paper, 22, 23
Float, 5
Flow of funds, 35-9
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, 45-7, 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 the 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, 58-59
Federal Reserve Banks, 10, 11
Financial institutions, 33
LIFE insurance companies (See Insurance companies)
Loans (See also specific types)
Business, 60-2
Commercial banks, 15-21, 58-59
Community development, 63
Farms, 60-2
Federal Reserve Banks, 5-7, 10, 11
Financial institutions, 33
Insured or guaranteed by United States, 32, 33
EURO, 56
FARM mortgage loans, 33, 60-2
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
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, 44
Retail credit, 34
SAVING
Flow of funds, 33, 34, 35-9
Saving deposits (See Time and savings deposits)
Savings institutions, 33, 34, 35-9
Securities (See also specific types)
Federal and federally sponsored credit agencies, 28
Foreign transactions, 54
New issues, 29
Prices, 24
Special drawing rights, 5, 10, 44
State and local governments
Holdings of U.S. government securities, 25
New security issues, 29
Rates on securities, 23
Stock market, selected statistics, 24
Stocks (See also Securities)
New issues, 29
Prices, 24
Student Loan Marketing Association, 28
THRIFT institutions, 4 (See also Credit unions and Savings
institutions)
Time and savings deposits, 4, 13, 15-21, 58-59
Treasury cash, Treasury currency, 5
Treasury deposits, 5, 10
U.S. GOVERNMENT balances
Commercial bank holdings, 15-21
Treasury deposits at Reserve Banks, 5, 10
U.S. government securities
Bank holdings, 15-21, 25
Dealer transactions, positions, and financing, 27
Federal Reserve Bank holdings, 5, 10, 11, 25
Foreign and international holdings and transactions, 10, 25, 55
Open market transactions, 9
Outstanding, by type and holder, 25, 26
Rates, 23
U.S. international transactions, 44-55
Utilities, production, 43
VETERANS Affairs, Department of, 32, 33
WEEKLY reporting banks, 17, 18
YIELDS (See Interest rates)
65
@FedFRASER