Full text of Treasury Bulletin : August 1962

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LIBRARY
DEC
T!^EA8URV

13

1963

DEPARTMENT

LIBRARY
ROOM 5030
JUN 2 3 1972

TREASURY DEPARTMENT

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August 1962

Table of Contents

Page
Treasiiry financing operations
Summary of Federal fiscal operations

Budget receipts and expenditures
Trust account and other transactions
Cash income and outgo
Account of the Treasurer of the United States
Debt outstanding
Statutory debt limitation
Public debt operations
United States savings bonds
Ownership of Federal securities
TreasTiry survey of ownership of Federal
securities
Market quotations on Treasury securities
Average yields of long-tenn bonds
Internal revenue collections
Monetary statistics
International financial statistics
Capital movements
Foreign currencies acquired without p\ir chase
with dollars
CiMulative table of contents

A-1
1

2
9
19

27
29
3A-

35
59
65

67
75

78
80
82
86
87

97
99

Treasury Bulletin

II

Reporting Bases

In the "Treasury Bulletin" are based largely on two Treasury

itures and Balsmces of the United States Government" and
for actual receipts and expenditures In the "Budget of the

financial reports, the "Dally Staterr.ent of the United States

United States Government."

Treasury" and the "Monthly Statement of Receipts and Expenditures of the United States Government." Certain mone-

Beginning with the final statement for the fiscal
year i960, the monthly statement reports totals for net
budget receipts and budget expenditures after deduction
of certain interfund transactions which are Included In

Data on receipts, expenditures, and debt which appear

tary statistics are based at least In part on the "Circulation Statement of United States Money."

Where these state-

ments are given as sources for Individual tables, they are

cited by name only.

the detail of both budget receipts and budget expenditures.
The transactions deducted consist of Interest payments and

described below.
tion on sources or reporting bases Is given In connection

minor amounts of certain other payments made by Government

with the* tables themselves.

accordance with the plan stated in the President's Budget
Message of January IS, I96O. It does not affect the surplus

Their respective reporting bases are
For other data In the Bulletin, Informa-

The monthly statement of receipts and expenditures
and replaced the

This reporting change was made in

agencies to the Treasury.

was first published for February 133^,

or deficit.

dally statement as the primary source of Information on
budget results and other receipt and expenditure data
classified by type of account. At the same time, the

ury Bulletin were revised to the new reporting basis in the

dally statement was changed to a statement of cash deposits

and withdrawals affecting the account of the Treasurer of
the United States.

Both publications have provided compar-

ative figures on their respective bases from the beginning
of the fiscal year 1953'
195'*,

The einnouncement of February I7,

with respect to these reporting changes may be found

In the April 195'+ Issue of the Bulletin.

The monthly statement shows

tures of the Government,

£ill

receipts and expendi-

Including those made from cash

accounts held outside the United States Treasury. The
Information Is compiled from reports by the Treasurer of
the United States and by all other collecting and disbursing agencies. Including those agencies which maintain
checking accounts in commercial banks. These reports cover
transactions recorded In the accounts of the agencies
during the reporting period. The net of the transactions

Figures for earlier periods shown In the Treas-

September 190O issue. The Interfund transactions deducted
under this procedure do not include payments to the Treasury by wholly owned Government corporations for retirement
of their capital stock and for disposition of earnings.
These capital transfers have been excluded currently from
budget receipts and budget expenditures beginning Jvily 1,

and figxires for prior fiscal years back through 1932

19^6,

were revised accordingly at that time.

The dally statement on the new basis was first Issued
for February 17,

195'*--

In the deposits and withdrawals as

shown, no distinction Is made as to the type of accounts

(budget, trust,

etc.).

The deposits are on the basis of

certificates of deposit cleared through the account of the

Treasurer of the United States.

Total withdrawals are on

the basis of checks paid or cash disbursements made out of
the Treasurer's account.

Some of the withdrawal classi-

fications shown are reported on the basis of mailed reports
of checks issued and are adjusted by means of clearing ac-

as compiled from these reports Is reconciled In the monthly

counts to the total of checks paid.

statement to changes In the balance In the Treasurer's account and In cash held outside the Treasurer's account and

minor amounts, noncash interfund and other intragovernmental

changes In the public debt outstanding.

dally statement also are on a "clearance" basis, with the

Receipts of taxes and customs duties are reported on a
collections basis. Other receipts are reported partially

exception of those issuance and retirement transactions
reported on the basis of telegrams from Federal Reserve

on a collections basis and partially on a deposits basis.

Banks.

Expenditures, jxcept Interest on the public debt, are re-

The daily statement before February 17, 195'*. covered
not only transactions cleared through the Treasurer's ac-

ported on the basis of checks Issued or cash payments made
by disbursing officers.

Transactions of an Interfund or
Intraigovernmental nature are Included on the same basis
even though the actual Issuance of checks may not be Involved.
Interest on the public debt Is Included on an

transactions are excluded.

Except for relatively

The public debt figures in the

Noncash debt transactions are included, however.

count but also certain Government agency transactions which

were handled through commercial bank accounts, and included
noncash Interfund and other intragovernmental transactions.
It provided information similar to that In the present daily

accrual basis beginning with figures for June 1955 and
the fiscal year 1955.
Prior to that, It was Included on
a due and payable basis.
The same reporting basis as that

count, and similar to that in the present end-of-month daily

In the monthly statement provides the fiscal year figures

amount outstanding.

for the Treasury's "Combined Statement of Receipts, Expend-

classified by type of account, and the budget results shown

statement with respect to the status of the Treasurer's ac-

statement with respect to debt Issuance, retirement,

and

Receipts and expenditures, however, were

Aucfust 1962

III

Reporting Bases

-

(Continued)

reflecting

dled through commercial bank accounts, consisting of markfet

the results under the President's budget program as enacted

transactions In public debt and guaranteed securities, were

by the Congress.

Interest on the public debt
as reported by the agencies.
was Included on a due and payable basis beginning with
November 19^9 and on a checks-paid basis prior to that time.

In the dally statement were used as the basis for

Receipts were on the basis of deposits as they cleared
the Treasurer's account.

Expenditures cleared through the

the Treasurer's account were reported on two successive

The circulation statement reflects transactions through

they were on the basis of checks paid

the Treasurer's account which affect monetary stocks of gold

Beginning with 19^7.

and silver and the amounts of coin and currency In the money

bases.

Through

19'*^

by the Treasurer of the United States.

expenditures made through the facilities of the Treasury
Department's Division of Disbursement were on the basis
of checks Issued, while certain others, principally those
of the Department of Defense and Its predecessor organizations, were on the basis of checks paid.

Note:

Transactions han-

supply of the country.

It Is Issued later than the dally

statement, however, and the figures are based on transac-

tions consummated during the reporting period even though
some may not have cleared the Treasurer's account during

that period.

Where calculations have been made from unrounded figures,

the details may not check to the totals shown.

August 1962

k-i

Treasury Financing Operations

August Financing

and loan accounts for both of the new bond Issues, but not

In Its first major borrowing operation of the fiscal
year I963, the Treasury, on July 30, I962, offered the fol-

lowing new securities for cash:
S6. 5 billion,

or thereabouts, of one-year 3-1/2
percent Treasury certificates of Indebtedness,
at par, dated August I5, 1962, to mature
August 15, 1963;

$1.5 billion, or thereabouts, of 6-1/2 year '+ percent Treasury bonds, at par, dated August I5,
1962, to mature February 15, 1969j and
Up to $750 million, or thereabouts, of U-l/U- percent Treasury bonds, at a price of 101, to
yield ^.IS percent, dated August I5, I962,
to mature August I5, 1992, callable at the
option of the United States on any Interest
date on and after August I5, 19S7. In whole
or In part, at par and accrued Interest, on
four months' notice of redemption given as
the Secretary of the Treasury may prescribe.
In addition to the amounts offered to the public,

the Sec-

retary of the Treasury reserved the right to allot up to
$100 -nllllon of the ^ percent bonds and up to I50 million of
the U-l/U- percent bonds to Government Investment accounts.

The proceeds, according to the announcement which was
dated July 26, were to be used to retire approximately 17-5

billion of notes maturing August 15, and to provide additional cash sufficient for the needs of the Treasury until
the end of September.

The offering, the announcement also

by covering the full maturity range,

stated,

provided at-

tractive outlets for Investors of all types, would maintain
a balanced debt structure,

and would help to activate cur-

rently accumulating long-term funds.

Subscriptions, which were received subject to allotment,

were payable In full or In part In cash or in matur-

ing notes exchanged at par.
the 4 percent Treasury notes.

The maturing securities were
Series B-I962,

dated Septem-

outstanding in the amount of S15S million,
and the 3-1/'^^ percent Treasury notes. Series G-I962, dated
February I5, I96I, outstanding in the amount of $7» 3^5
ber 26,

1957,

million.
Payment was due August I5, 1962,

except that for the

longer bond payment by savings-type investors could be made
in Installments over a three-month period.

Commercial banks

were permitted to make payment by credit through their tax

for the new certifloates.
Total subscriptions were as follows:

Treasury Bulletin

A-2

Treasury Financing Operations

Of the k percent bonds applied for (about $6,7'+3
eubsorlptlone In amounts over $100,000 were
allotted 22 percent, but not less than |100,000; eubecrlp-

million),

-

(Continued)

All subscribers were required to agree not to purchase or sell, or make any agreements with respect to the

In ad-

purchase or sale or other disposition of any of the new
securities until after midnight July 30, 1962.

dition to the amount allotted to the public, $100 million
was allotted to Government Investment accounts.

percent bonds of 19S7-92 In Installments were required to

tlons for $100,000 or lees were allotted In full.

All subscriptions received from the public for the
'*-l/'+

percent bonds (which totaled about $3^5 million)
In addition, $50 million was al-

Savings-type Investors choosing to pay for the k-l/h
pay not less than 30 percent by August I5, not less than
60 percent by September 15, and In full by October 15.
Ac-

were allotted In full.

crued Interest from August I5, I962, at the rate of $0.12

lotted to Government Investment accounts.

per $1,000 per day was required to accompany all payments
after August I5, 1962.

Subscriptions from commercial banks for their own
account were restricted for the certificates to an eimount
not exceeding 50 percent of the combined capital,

surplus,

and undivided profits of the subscribing bank.
For each
bond Issue, such subscriptions were restricted to an amount
not exceeding 10 percent of the combined total of time and

savings deposits. Including time certificates of deposit,

or

25 percent of the combined capital, surplus, and undivided

profits of the subscribing

bank,

whichever was greater.

Subscription* were received without deposit from com-

mercial and other banks for their own account, federally
Insured savings and loan associations, States, political
subdivisions or Instrumentalities thereof, public pension
and retirement and other public funds.

International organ-

izations In which the United States holds membership,

eign central banks and foreign states,

for-

dealers who make

primary markets In Oovernment securities and report dally
to the Federal Reserve Bank of New

York their positions
with respect to Government securities and borrowings thereon, Government Investment accounts, and the Federal Reserve
Banks. On all other subscriptions, payment of 2 percent of
the amount of certificates and 10 percent of the amount of

each Issue of the bonds applied for (In cash, or In the
maturing securities accepted at par) was required.

Commercial banks, in submitting subscriptions, were
required to certify that they had no beneficial Interest
In any subscriptions they entered for the account of their

customers, and that their customers had no beneficial Interest In the banks' subscriptions for their own account.

Pension and
Savings-type Investors were defined as:
retirement funds (public and private); endowment funds;
common trust funds under Regulation F of the Board of Governors of the Federal Reserve System; insurance companies;
mutual savings banks; fraternal benefit associations and
labor unions' Insurance funds; savings and loan associations; credit unions; other savings organizations (not In-

cluding commercial banks); and States, political subdivisions or Instrumentalities thereof, and public funds.
Delivery of 5 percent of the total par amount allotted will
be withheld until payment for the total amount allotted has
been completed by subscribers In this group (except States,

political subdivisions or Instrumentalities thereof, and
pwbllc pension and retirement and other public funds) electing to pay on the deferred payment basis.

The U-l/l; percent bonds of 1967-92 will be redeemable at par prior to maturity In payment of Federal estate

taxes If owned by the decedent at time of death.

The two Isoues of bonds bear Interest semiannually
February 15 and August 15 In each year until the prlnclped
amount becomes payable. Bearer bonds with Interest coupons

attached and bonds registered as to principal and Interest

were Issued,

In denominations of $500,

$10,000, $100,000,

$1,000,

$5,000,

and $1,000,000.

Issued In bearer form only, the new certificates bear
Interest from their date of August I5, I962, at the rate
of Ji-l/2 percent per annum, payable semiannually on Feb-

ruary 15 and August I5, I963.

loans, or loans collateralized In whole or In part by the

They were issued In denominations of $1,000, $5,000, 510,000, $100,000, $1,000,000,
$100,000,000, and $500,000,000.

securities subscribed for, to cover the amounts required

Call before Maturity

They also were requested to refrain from making unsecured

to be paid when subscriptions were entered,

and they were

required to make the usual certification to that effect.

On August 1^,

1962,

the Treasury Department issued

notice that the partially tax-exempt 2-3/'+ percent Treasury

August 1962

A-

Treasury Financing Operations

-

(Continued)

there

bonds of 1960-65, dated December 15, 1938, due December 15,

providing $800 million of new cash.

1965, are called for redemption on December 15, 1962, when
Interest on these bonds will cease. There are $1,'^S5 million

were four 91-day offerings of $1.3 billion each, and four
of 1S2 days for $0.7 billion each. Average rates of discount

of the issue outstanding.

on the new bills were as follows:

Holders of the bonds may, in advance of the redemption
date, be offered the privilege of exchanging all or any part
of their called bonds for other interest-bearing

of the United States,

obligations

in which event public notice will be

given.

The Treasury Department announced on the same date that
the 2-1/2 percent bonds of 1962-67, which are callable also
on December 15, I962, will not be called for redemption on

that date.

Weekly Treasury Bills Increased
Regular weekly bills issued during July totaled $g.O
billion, refunding 17-2 billion maturing and, as in June,

13-week

Also, as in June,

August 1962
SUMMARY OF FEDERAL FISCAL OPERATIONS
(In millions of dollars)

Budget receipts and expenditures

receipts

Expenditures

V

Surplus
or
deficit

1/

(-)

Net

Fiscal years:
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
1960
1961
1962 p

36,422

Net
increase

Net of

trust
account
and other
transactions

Clearing
account,
etc.

y

2/'

-3,122
3,510
-4,017
-9,449

47,480
61,287
64,671
64,420
60,209
67,850
70,562
68,550
67,915
77,763
77,659
81,360

39,544
43,970
65,303
74,120
67,537
64,389
66,224
68,966
71,369
80,342
76,539
81,515
87,668

1,626
1,596
-2,819
-12,427
1,224
-3,856
-6,308

93,000

92,537

37,235
52,877
64,705
63,654
60,938
63,119
70,616
71,749
68,262
72,738
79,518
78,157

Levels, end of period

Net
Increase in

in

Treasurer's
account
balance, or
decrease (-)

public
debt J or
decrease

Debt outstanding
Treas\irer' s

account
balance

Public
debt

(-)

99
679

483
-214
-401
-250
-303
284

Total
Guaranteed
Federal
securities
securities

Subject to
limitation

633
-329
-50
-602
431

-523
530
-6
-145
507
383

4,587
-2,135
3,883
6,966
5,189
3,115
-1,623
-2,224
5,816
8,363
1,625
2,640
9,230

463

-248

234

-450

37,657
56,236
70,547
72,811
64,622
65,891
66,838
71,157
75,349
79,778
77,565
84,463

-422
-3,358
-5,842
-9,157
-3,683
-2,771
3,779

311
815
-41
101
739
-259
267
1,092
-691
23
-698
234

87
-106
-319
-209
-34
376
-21
224
109
-237
154
204

-423
2,711
7,973
7,777
3,582
2,019

4,346
6,537
8,524

6,470
6,236

-185
712

7,012

-1,624
301
1,512

-629

408
-58
692

5,125
6,467
10,831

6,450
7,169
7,961

-1,325
-702
2,870

2A
49
-14

25

516

-377
-149

2,158
-1,175

6,322
7,631
6,771

-3,340
-1,265
2,174

-66
-120
44

-129
-498
682

3,433
1,310

Sept

2,982
6,367
8,945

35

-101
-572
2,936

Oct
Nov
Deo

3,141
6,424
7,967

7,796
7,485
7,160

-4,655
-1,060
807

-154
317
258

UO

-2,759
63
234

6,197
6,261
6,494

295,660
297,011
296,169

299

-543
10

1,911
1,350
-842

330

295,959
297,325
296,499

1962-Jan
Feb

5,357
6,729
9,104

7,395
6,858
7,749

-2,038
-129
1,356

-152
381
-1A5

333
-78
978

345

470
-896

-1,513
644
1,293

4,981
5,626
6,919

296,513
2%, 983
296,088

347
371
402

296,860
297,354
2%, 489

296,422
296,917
296,054

5,754
7,024
11,566

7,289
7,229
7,983

-1,535
-205
3,583

132
258
-321

-384
-130

864
2,222
-973

-924
2,L45
2,290

5,995
8,141
10,430

2%, 952
299,174
298,201

405

1

444

297,357
299,604
298,645

296,922
299,170
298,212

3,566

7,252

-3,686

208

-248

-325

-4,051

6,380

297,876

448

298,324

297,891

1963 (Est.).

Calendar years:
1950
1951
1952
1953
1954
1955
1956

1957
1958
1959
1960

1%1
Months
1961-Jan
Feb
Mar

Apr

May
June...

July
Aug

Mar
Apr

May
June p.

July

-3,117
-4,180

592

-7,088
-7,040
1,953
-6,306

W7
435
328
231
-194
195

522

140
240
444

257,377
255,251
259,151
266,123
271,341
274,418
272,825
270,634
276,444
284,817
286,471
289,211
298,645

256,652
254,567
258,507
265,522
270,790
273,915
272,361
270,188
276,013
284,398
286,065
288,862
298,212

294,920

649

295,569

295,239

256,708
259,419
267,391
275,168
278,750
280,769
276,628
274,893
282,922
290,798
290,217
296,169

24
42

355
622
828
83

4,232
4,295
6,064
4,577
5,180
4,545
4,427
4,606
4,961
5,583
6,411
6,494

256,731
259,461
267,445
275,244
278,784
280,822
276,731
275,002
283,031
290,925
290,373
296,499

256,026
258,794
266,821
274,671
278,256
280,348
276,276
274,564
282,607
290,513
289,971
296,061

-181
508
-3,072

-1,582
1,463
-1,498

4,829
6,292
4,794

290,036
290,544
287,471

290,196
290,740
287,682

289,7%

211

-761
1,128
1,532

4,034
5,162
6,694

287,987
290,146
283,971

219
225
240

288,206
290,371
289,211

287,809
289,975
288,862

6,593
6,020
8,956

292,404
293,714
293,750

239
249
271

292,643
293,964
294,020

292,199
293,521
293,579

295,520

331
-956
4,159
-4,399
2,654
-1,311
3,736

-447
62
1,770
-1,488
603
-635
-117
179

-4,U1
-1,730
8,025
7,875
-581
5,952

Source:
Actual figures through the fiscal year 1952 and the calendar year
1953 are from the daily Treasxiry statement, and thereafter from the
monthly statement of receipts and expenditxires of the Government (for
explanation of reporting bases, see page II); estljnates are from the
1963 Budget document, released January 18, 1962, including effects of
proposed legislation. More detail for data on this page will be found
In succeeding tables.
1/ Fiscal year figures beginning with the September 1960 issue of the
Treasiiry Bulletin, and calendar year figures beginning with the June
1961 issue exclude certain Interfund transactions from both net budget
receipts and budget expenditures (see pages II, 2, and 4). Figures

^

previously published for these series have been revised to the new
reporting basis. The change does not affect the budget siirplus or
2/

^

deficit.
Excess of receipts, or expenditures (-). For detail, see pages 9 - 13.
For checks outstanding and telegraphic reports from Federal Reserve
Banks; public debt interest accrued and unpaid beginning with Jxme
and the fiscal year 1955 (previously included from November 1949 as

p

5,517
7,357
6,969
4,670
6,766
6,216
6,546
5,590
9,749
5,350
8,005
6,694
10,430

257,357
255,222
259,105
266,071
271,260
274,374
272,751
270,527
276,343
284,706
286,331
288,971
298,201

6,000

2,047
1,839
-388
-2,299
2,096
-551

.20

29
46
52

81
44
74
107
101

Ul

54
76
34
53

103
104
109
127
156
330

160

1%

315

430

290,340
287,284

2%, 886
296,061

interest checks and coupons outstanding); also deposits in transit and
changes In cash held outside the Treasury and in certain other accounts
beginning with the fiscal year 1954. Net increase, or decrease (-).
For ciirrent month detail and list of acts, see section on "Statutory
Debt Limitation" in each issue of the Bulletin. The limitations in
effect during the period covered by this table and the date when each
became effective are as follows: $275 billion, on June 26, 1946; t281
billion, on August 28, 1954; *278 billion, on July 1, 1956; $275
billion, on July 1, 1957; $280 billion, on February 26, 1958; $288
billion, on September 2, 1958; $290 billion, on June 30, 1959; $295
billion, on July 1, 1959; $293 billion, on July 1, 1%0; $298 billion,on July 1, 1961; and $300 billion on March 13, 1962. The limit is
$308 billion from July 1, 1962, through March 31, 1%3, $305 billion
from April 1 through June 24, 1963, and $300 billion from June
25 through June 30, 1%3.
Preliminary,

2

August 1962
.BUDGET RECEIPTS AND EXPENDITURES,

Table 2.- Detail of Miscellaneous Receipts by Major Categories
(In millions of dollars)

Fiscal year
or month

Total

Interest

2,311
2,559
3,006
2,749
3,196
3,158
4,064
4,082
3,192

458
408

1963 (Est.),

4,194

1961-July. .,
Aug
Sept..,

1954
1955
1956
1957
1958
1959
1960
1961
1962 p

,

,

Oct
Nov.

.

.

554

628
745
601

RealizaDividends tion upon
and other loans and
eamings investments
361
252
291

438
674

60
49

22

161

3

56
56

Apr
May.
June p

243
216
500

19
15

268

.

.

390

58

10

12

33

11

93

6

37
-43
56

9
18

7

87

.

370

198
118
537

315

.

133

63
60
63

269
198

322
343
114

5

25
24
2^

10

29

67

23
33

70

12

65

363

668

70

4

480
387

258

260
242
249

58
77

410
471
266

221
253
313

155

804

51
7

221

182

978

942

Seigniorage

Fees for
permits
and
licenses

Fees and
other
Royalcharges
Rents
ties
for
services,
etc.

32 i

345
325
392
343

328

587
436
1,012
376

%7

Sale of
Sale of
Governprodment
ucts
property

312
304
350
374
330
393

506
1,111
805
743

1962-Jan
Feb...
Mar.

Dec

240
274
296
328

Recoveries and
refunds

16

6
16
19

73
29

23
49
59

44
53

45

47
49
49
53
54

55

57
81

58

58

40

255

AdjustFines,
ment to
penalties Other monthly
and forstatefeitures
ment

2/

.

Treasurii Bulletin
.

BOICET KECEIPrS AND EXPEHDITURES

Table 3.- Expenditures by Agencies

.-iscal year

Legislative

or Booth

Bracich

65
85

1955
1956

Judiciary

3:

Executive
Office
of the
President
9

appropriated
to the
President
4,3ffl.

Independent
ageocies

General
Services
AdHinististlrai

6,791
6,982

1,077

39
-23
199
1,152

408
387
444

309
502
735

548
573
639
733
807

5,419
5,929
6,667

539
498
594

42,824
44,677
48,184

goe
971
999

39

44

11
56

1,757 J/
1,808
1,989

9.013
10,291
11,067

2,421

11,948

578

1,383

6,709

815

49,700

1,071

51

447

99

45
51
43

4,044
3,865
4,338

67

112
88

7,7Cf7

3/

57

56
70
28

1963 (Est.)...

148

63

22

1S62 -January.
February,

16
11
12

162
139
195

991
978
971

51
27
41

11
13
15

190
111
154

1,063
596
862

29
20

140

849

July. ...

562 2/
645
382

4,4"3
4,115
4,081
4,109

49

June p..

functior.

35,532
35,791
38,439
39,062
41,233

IC

126
134
153

May

Civil

10

1960
1961
1962 p

April...

Military

3-

97
99
108

March

Finance
Agency
129

Coaaerce
Oepartaent

4,636
5,177
5,006
4,875
7,091

973
523
570
425
359

1957
1958
1959

,

Defense Depairtaent

Agriculture
Deoertaent

47
52

8,305
9,315

y

l,-293

34

426
542

403
350
601

63

53

11
92
18

51
39

4,046
4,528
4,757

28

209

688

57

3,692

75

71

77
75

August 1962
.

BUDGET BECEIPTS AKD EXPENDITURES.

Table 4.- Interfund Transactions Excluded from Both Net Budget Receipts and Budget Expenditures
(Ir aillicgis of oollarE)
aviDents zz ir.e

Fiscal
year or
month

To*al

Total
interest

CoBOdity
Credit
Corp.

1955
1956
1957
1958
1959

181
315
467
567

173

60

297
456
557

355

342

ITO
340
421
181

1960
1961
1962 p

694
654
633

682
640
620

465

1963 (Est.)...

693

678

350

1962-January.
February.
Uarch. . ..

84

16

ExportImport
Bank of
Washington 2/

82
16
2

April,

. ,

Uay
June p.

July

2

41
46
43
57

Panaas
CasaX

Business
Adain.

2/
51

4S
47

^

Tennessee
Valley
Authority

Under
VBterans'
Dsiens£
Ptoist ration
daction
Act ^'

11
17

6
8

6

1

ID

45
39

11

3

9

7

14
19

90
118

9
9

7
15

10

172

fraochise

of

Tarious
agencies

3

3

42

32

29

credit
i»nis'

Canal
Coopany

--nar^es

for
audits

-.SI £/

20
24
30

35

6
8

40

Other

15

23

9

^eaera.
inter-

oars&meat hj

3

4
4
7
8
16

17
10
9
12

11
13
12

14

56
15
1

7
5

..

410
330

26
25
24
31

Bousing
and
Home
Finance
Agency

BS^^ZT

212

209

78

78

1
174

4
26

1
73

I

Source:
See Tahle 2.
By Government agencies operaxe-d as reTOlvir^g funds; on loans (see "Debx
Outstanding," Table 6) and other interest-bearing U. S. inTestnients.
2/ Excludes transactions under Defense Production Act.
2/ Consists of payments by: Office of the Adsinistrator for college
housing, urban renewal, prefabricated housing loans for 1955, and public
facility loans beginning 1957; Federal National Mortgage Association;
and Public Housing Administration.
Direct loan program.
By various agencies for programs under the Defense Production Act.
Consists of payments by: Reconstruction Finance Corporation for 1955;
Colorado Fdver Dam Fund, Boulder Canyon project; Virgin Islands Corpo-

re-ic:n;3-jreau of Federal Credit IJnicms;CiTil Itei ense Program; F-jnd;?s::T!iers' ax:e Aisinisxration: Agricultural Credit Insurance Fund (foni-erlj-

^

2/
8/

the Fare Tenant Mortgage Insurance Fund) beginning 1956, and the direct
loan acco'jntj both established pjrsuant to Title III of the Agricultural
Act of 1961, approved August 6, 1961; Inf armatiCEial Media Guaranty
Fund beginning 1959; Federal Ship Mortgage Insurance Fiind beginning
196C; and St. La-rfrence Seavay DevelopsDent Scrporatlcc beginning 1960.
For net cost of Canal Zone GoveriEent, less tolls on GovemHnezit vessels,
and for part of treaty payment for use of Canal Zone.
Heallz-ation on the Gover^aent's Invesxjsent.
Less than $500,000.
Preliainaiy.

Footnotes to Table 3.- (Continued)
2/

y

6/

a/

2/

Beginning 1957, Federal aid for highvays is excluded frtao l3udget expenditures and included in ti^st account eK>enditures (see Table 1).
Adjusted for reclassification by ^rtiich the President's special international program in the soount of $7 million was shifted frco Tunds
appropriated to the President" to "Indepaident agencies."
Consists of net expenditures of the Postal Pund, reflecting the
change in classification of Post Office transacticEns to a public
enterprise revolving fund basis, and beginning fiscal I960 payment
for public services.
Reported on an accrual basis effective June 30j 1955.
Includes Reconstruction Finance Corporation except functions transferred to Export- Import Bank, Federal National Mortgage Association,
General Services Administration, and SBiall ^isiness Administration.
The corporation was abolished at the close of June 30, 1957, by
Reorganisation Plan No. 1 of 1957, and its remaining functions
were transferred to the Housing and Home Finance Administrator,
Administrator of General Services, Administrator of 5teall Business
Administration, and Secretary of the Treasury.
Consists of Federal pajTaent and loans and advances.
For content, see Table 4. These transactions are included in the
detail of both budget receipts and budget expenditures, but are deducted froin the totals (see Reporting Bases, p. II).
Figures in this column differ from those published under the same
caption prior to the September 1960 Treasury Bulletin because of
the exclusion of certain interfund ti'ansactions (see footnote 8).

10/

^/

12/
*

Includes payments of United States subscript iceis to three internationsl financial organisa-ions. In June 1959, porstBant to an
act approved June 17, 1959 (22 U.S.C. 2Sfee). an additional $1,375
BillicE was paid to the Intemstio^l Uccetsry Ftz!5d cansisting of
$344 million in gold (see "Ibanetary Staxistics," Table 3) and
$1,031 million in special notes. To the Inter-Azaerican Development Bank, as authorised by an act approved August "*, 1959 (22
U.3.C. 283e), there were paid in Sepxesiber 1959, $C.5 sillicEi, in
June 1960, $79.5 iaillian, and in October 1961, $110 cillion wiiich
included $25 million cf special notes. To the Interns liccial
Development Association, as authorized by an act ep^roved June 30,
1960, (22 U.S.C. 284e), there was reid $74 ailUcsn in November
1960, of which $56 million was in special notes, and $62 ndllian
in November 1961, which also included %yS Eillicn of special notes.
The special notes of the United States issued to these organizations are nonnegotiable and nonlnterest— bearing and are payable
See also "Debt Outsxanding," Table 1, and "Cesh Inccoe
cei desBZid.
and Outgo," Table 5.
Beginning with fiscal 1961, administrative ejoenses cf the esEployment security program are handled as tr-ds^ account ejc>endit'ares
rather than budget expenditures, pursuant tc xbe &ployment
Security Act of 1960, approved September 13, I960 (42 U.S.C. HOI);
see Table 1, footnote 11,
Total includes allowance for ccctingencies of $350 Billion,
Preliminary.
Less than $500,000.
p

,

Treasury Bulletin
BUDGET RECEIPTS AND EXPENDITURES

Table 5.- Summary of Appropriations and Authorizations, Expenditures, and Balances, by Agencies,
as of June 30, 1962 (Preliminary)^
(in millions of dollars; negative figures are deductions in the colunms in which they appear)

Additional, fiscal year 1962 to date

Unexpended
balances
brought forward
July 1, 1961

Legislative Branch
The Judiciary
Executive Office of the President
Funds appropriated to the President
Agriculture Department
Commerce Department
Defense Department:
Military functions
Uilitary assistance
Civil functions
Undistributed foreign transactions
Health, Education, and Welfare Department
Interior Department
Just ice Department
Labor Department
Post Office Department
State Department
Treasury Department
Atomic Energy Commission
Federal Aviation Agency
General Services Administration
Housing and Home Finance Agency
National Aeronautics and Space Administration
Veterans' Administration
Other Independent Agencies
District of Columbia - Federal payment and loans

Total

Appropriations

2/

Agency

i/

2/

Increase

Authorizations
to expend from
debt receipts 2/

-8

137

58

26
2,593
5,518
827

-35

47,702
1,577

47,702
1,577

35

i,oi>;

1,0M

-2

1,479
440
38
231
333
131
394
1,463
560
389
12,846

to,

58

354

Legislative Branch
The Judiciary
Executive Office of the President
Funds appropriated to the President
Agriculture Department
CoDBserce Department
Defense Department:
Military functions
Military assistance
Civil functions
Undistributed foreign transactions
Health, Education, and Welfare Department
Interior Department
Justice Department
Labor Department
Post Office Department
State Department
Treasury Department
Atomic Energy Commission
Federal Aviation Agency
General Services Administration
Housing and Home Finance Agency
National Aeronautics and Space Administration
Veterans' Administration
Other Independent Agencies
District of Columbia - Federal payment and loans to.
Adjustment to monthly statement of receipts and
expenditures of the Government

4,694
919
297
644

591
805
10,876
111

78,220

704

Expenditxires

5

-3

4,694
929
297
644

10

875
309

875
309
10,250

2,547
-70

799
608
556
1,754

823
1,754
5,447
1,090
65

-305

90,506

500

1,083
65

1,718

89,093

Rescissions,
cancellations,
and other
adjustments 8/

153
57
28
2,047
6,662
594

8

10,250
2,547
729
608

-237

504

4,947

Unexpended balances June 30, 1962 (Preliminary)

Undisbursed
appropriations

Unused authorizations to
expend from
debt receipts

Unfunded
contract
authorizations

Investments
held

5
5

5

2
6

21

4,165
1,159
668

6,039
2,824
300

10,204
4,034
1,183

51

235

29,532
2,816
355
28
1,957
460
37
261
421
134

29,532
2,816

46,812
1,359
999
-28
4,215
908
294
613
787
307
10,194
2,806
699
444
735
1,257
5,392
915
72

345

6
164
4

116

28
1,957
365
37
261
421
134
197
1,204
543
547
580
1,088
468
762

8

%

355

47,462

-25 10/

y
80

27

53

Total

2/

5

10

10

85

250

447

47
7,978

3,356

856

300
9,552

8

88
612

27,263

3,809

1,556

25

88,301

Certain Interfund transactions

u

129

28,607
2,598

Agency

Deduct:

Total

26
2,593
4,809
830

Deductions, fiscal year 1962 to date

Total budget expenditures

Transfers,
borrowings
Investments

113
4
42
9,661
5,184
971

-

Total

Other authorizations 6/

1,204
590
547
12,770
1,088
856
10,934
96
25_

80,070

633
87,668

Bureau of Accounts. Details for the current fiscal year to date
Source:
are shown in Bureau of Accounts report "Budgetary Appropriations and
Other Authorizations, Expenditures and Unexpended Balances".
1/ These figures, the latest available, are based on reports from the
agencies and as additional information is received are subject to
adjustment preparatory to the closing of the central accounts in the
Treasury for the fiscal year 1962. Subject to adjustment are: Certain
overseas transactions not yet included; the write-offs or withdrawals
of unobligated balances no longer available, since agency reports
covering these transactions are not required by law to be submitted
until September 30 (the write-offs in the fiscal year 1961 amounted
to $362 million); certain indefinite appropriations included on the

basis of Budget estimates rather than final actual figures; other
transactions, including those relating to (a) authorizations to expend from debt receipts, (b) restorations and reappropriations.
Includes same categories as shown at end of current period.
Although not expended, a substantial portion of these amounts is
obligated for outstanding purchase orders and contracts for equipment
and supplies, for payrolls, and for similar items.
Includes reappropriations.
Consists of authorizations by law for Government-owned enterprises to
borrow (1) from the Treasury (to expend from public debt receipts), or
(2) from the public (to expend from debt receipts).
Remaining footnotes on page 8.

%
^
V

Auqust 1962
BUDGET RECEIPTS AND EXPENDITURES

,

Table 6.- Expenditures and Balances by Functions
(Fiscal years; in millions of dollars)

.

Treasury Bulletin
BUDGFT RECEIPTS AND EXPENDITURES

Table 6.

Expenditures and Balances by Functions
(Fiscal years; In millions of dollars)

-

(Continued)

August 1962
TRUST ACCOUNT AND OTHER TRANSACTIONS.

Table 1.- Summary of Trust Account and Other Transactions
(In millions of dollars)

Trust and deposit fund accounts

Net receipts, or

expenditures {-)
from trust account
and other transactions
231
-194
195
633
-329
-50
-602
431

Fiscal year
or month

1955
1956
1957
1958
1959
1960
1961
1962 p

,

Net sale, or investment

Net

991 1/
2,250
1,409

Net

expenditures
1/

Net sale, or redemption
(-), of securities of
Government agencies in
the market

(-), by Government

receipts
1/

Excess of
receipts, or
expenditures (-

agencies in public debt
securities 2/

219

9,521
11,673
14,359
16,319
16,950
20,534
23,583 i/
24,336

8,530 2/
9,423
12,950
16,057
18,461
20,893
23,018
24,118

-1,362 2/
-2,617
-2,300
-197
1,112
-714
-435
-445

262

-1,511
-359

V
V

y

565

602
173
1,085
567

y

71

1,023
-733
658

1963 (Est.)...

-248

857

27,249

26,393

-1,813

709

1962-January.

-152
381
-145

-1,455
716
-212

866
2,743
1,828

2,322
2,027
2,040

1,137
-437
13

165
102

132

-279
2,461

1,867
1,591
2,261

455
-2,182
-652

-43
-21

325

1,587
4,053
2,586

-664

1,194

1,859

992

-119

Febr\iary.

March.

.

.

April

May
June p

.

258
-321

.

July

208

Actual figures are from the monthly statement of receipts and
expenditures of the Government (for explanation of reporting bases,
see page II); estimates are from the 1963 Budget document, released
January 18, 1962, including effects of proposed legislation.
Certain intertrust fund transactions are excluded from both receipts
and expenditures beginning with the July 1961 issue of the Bulletin.
For detail see Table 6.
Also includes guaranteed securities (see Table 4).
Effective July 1, 1955, security transactions of Government-sponsored
enterprises are included in deposit fund account expenditures (net)

Source:

1/

2/

4/

V
p

55

and excluded from net investment by Government agencies in public
debt securities (see Table 4) and from net redemption or sale of
obligations of Government agencies in the market (see Table 5).
Figures for 1955 have been revised to the new classification basis.
Adjusted for reclassification of certain repayments of advances from
the general fund.
Beginning fiscal 1961, refunds of taxes (principal only) are deducted
from receipts; before that they were included under expenditures.
Preliminary.

Table 2.- Trust Account Receipts
(In millions of dollars)

Fed. Dis-

ability

FOASI
Trust
Fund

Fiscal year
or month

1955
1956

Ins.

Trust
Fund

Railroad
Retirement
Account

1957
1958
1959
1960
1961
1962 p

5,586
7,003
7,159
7,900
8,132
10,439
11,824
12,022

1963 (Est.)

14,120

1,165

1,188

4,151

148
1,656
1,046

12

146
88

13
84
64

728
2,303
1,120

62
189
120

409

36

1962-January
February.
March
April

May
June p

July

. .

V

339
943
938
1,071
1,083
1,092

V

National
Service
Life Insurance
Fund

Unemployment
Trust
Fund

700
739
723
695
758
1,403
1,051
1,086

1,425
1,728
1,912
1,855
1,997
2,703
3,803
3,980

Government
Life
Insurance Fund

590
649
608

78
73
69

640
634
643
668
666

67
63
61

Federal
employees
retirement
funds

Highway
Trust
Fund

Other
trust
accounts

1/

708
1,025

Total
trust
accounts

Less
Intertrust
fund
transactions 2/

Net
trust
account
receipts

2/

9,536
11,685
14,369
16,329
17,084
21,442
24,098 i/
24,862

16
12
10
11
135
908
515
525

9,521
11,673
14,359
16,319
16,950
20,534
23,583
24,336

27,748

449
467
681
638

498

27,249

58
55

1,397
1,458
1,741
1,766
2,033
2,085

1,482
2,134
2,185
2,644
2,800
2,955

695

48

2,128

3,250

209
410
110

48
40

146
141
150

233-

45

2
1
2

207
248

64
71
88

2,758
1,841

15
14

866
2,743
1,828

16
89
518

240
944
205

41
41
213

2
2

37

203
153
428

230
264
237

76
7B
92

1,597
4,062
2,970

10
10
384

1,587
4,053
2,586

13

188

45

149

281

73

1,195

V

6/

Source:
See Table 1.
Includes principally District of Columbia receipts from taxes and from
1/
Federal contributions, loans, and grants; Funds appropriated to the
President - mutual security trust funds; Indian tribal funds; increment resulting from reduction in the weight of the gold dollar; ana
the Railroad Unemployment Insurance Administration Fund through
November 1958, for treatment after November 1958, see Table 10,
published quarterly.
2/ For content see Table 6. These transactions are included in the detail
of both trust receipts and trust expenditures, but are deducted from
the totals.

y
6/

V
^

585
711
779

920

V

875

V
V

1,194

Excludes certain intertrust fund transactions consisting mainly of
financial interchanges between trust funds resulting in receipts and
expenditures (see footnote 2).
See Table 1, footnote 4.
See Table 1, footnote 5.
Beginning fiscal 1961, tax receipts under the Federal Unemployment Tax
Act are transferred currently to an administration account in the
Unemployment Trust Fund pursuant to the Employment Security Act of
1960, approved September 13, I960 (42 U.S.C. 1101 (b)); see "Budget
Receipts and Expenditures," Table 1, footnote 11.
Preliminary.

m
)

,
.,
.

'

Treasury Bulletin

10
TRUST ACCOUNT AMD OTHER TRANSACTIONS.

Table 3.- Trust and Deposit Fund Account Expenditures
(In millions of dollars; negative figures are excess of credits)

Trust accounts, etc.
Fiscal year
or month

1955
1956
1957
1958
1959
1960
1961
1962 p

Federal Old-Age
and Survivors
Insurance Trust
Fund

Federal
Disability
Insurance
Trust Fund

Railroad
Retirement
Account
585
611
682
730
778
1,136
1,124
1,134

,

5,551
6,723
8,116
9,454
11,152
11,752
13,270

1

181
371
571
746
1,089

.

.

86

591

699

3,894

605

422
402
398

49
55

1,086

84

94

1,0%
1,117

89
87

100
101

1,134
1,137
1,503

94
91
103

84

1,U6

93

.

July

1,150

etc. 5/

etc.

483
425

1955
1956

1957
1958
1959
1960
1961
1962 p

1%3

Total
trust
accounts

,

,

1%2-January.
February,
March. .
.

April
June p.

.,

Investment in
public debt
securities

170
548

Redemption of
agency
obligations
in the market

-98
122
-200

39

460
-70
239
434

1,%2

-283

1,952
2,574

-U

85

-71

37
-185
-293

52

1,882

51

-382

69
103

May

89
86
92

222
134
153

65
-32

27

84
59
-6

54

91
93
92

132
178
331

25
-1
21

-73
-47
-46

94

239

-64

-33

Government-sponsored enterprises

400
-72
342

82
61
91

3,252

10

2,292
2,050
2,121

859

1,172

58

Other
expenditures

-500

25,

9

206
929
102
176
946
-73
323

69

53

191

881

-93
-94
41

96

83
94

49
51

26,786

18,605
21,903 3/
23,342 2/

Other
operations

966
1,602
2,709
3,049 2/
2,620 2/
2,784

6
9
7

38

698
,

(Est.)..,

July

565 2/
915 2/
672 2/
711

Financing by
Treasury

792
896
955
1,063

347
246
339

-269
-872
-86
167
-1,222
-723
-195
-1,121

8,489
9,197
12,743
16,159

Federal National
Mortgage Assoc. 1/

3

-42
42
-16

470

Deposit fund accounts (net)

etc. - (Cont.

Other
trust
accounts,

3,U8

84

87

205

96
89

Trust account,
Fiscal year
or month

1,965
1,393
1,644

Highway
Trust
Fund

430
507

120
80

1962- January.
February,
March, ..

June p.

Federal
employees
retirement
funds

3,054
2,736
4,734 2/ i/
3,907

14,171

May

Government
Life
Insurance
Fund

538
512
515
544
562
582
707
629

1963 (Est. )...

April

National
Service Life
Insurance
Fund

1,U4

4,487
,

Unemployment
Trust
Fund

Total

99

i/

334
39

10
-8

-620
1,277
479
-224
1,070

7
-16
-5
15

-U
n.a.

313

Other
deposit
fund
accounts

Total
deposit
fund
accounts

Total trust
and deposit
fxind account
expenditures

Less:

Intertrust
fund
transactions 6/

Net trust
and deposit
fund
account
expenditures 2/

August 1962

11

TRUST ACCOUNT AND OTHER TRANSACTIONS.
Table 4,- Net Investment by Government Agencies In Public Debt Securities
(In millions of dollars; negative figures are excess of sales)

Trust accounts

Fiscal year
or month

1955
1956
1957
1958
1959
1960
1961
1962 p

1963 (Est.

Total
trust
accounts
2/

Federal
Old-Age and
Sxirvivors

Insurance
Trust Fund

435
445

548
286
241

1,2^1
1,463
220
-499
-1,290
-726
-225
-1,089

1,813

1,470

-1,137
437
-13
-455
2,182
652

2,127

-992

1,362

2,617
2,300
197
-1,112

7W

)..

1962-January.
February
March. .
April.

.

May
June p.

July

Total 1/

V

1,236
2,516
2,263
106

V

Federal
Disability
Insurance
Trust Fund

Unemployment
Trust
Fund

Ul

V

Railroad
Retirement
Account

-545
258
274
-1,255
-1,011
-41
-952

121
325
729
552

36

494
285
21

-33
-35
264
-78
-63

68

38

-1,141
404
23

-828
357

-57

61

U

-455

-25

543

-319
1,101
-341

-1,013

-852

-1,2M

38

74

38

National
Service
Life
Insurance
Fund
73
135
89
95
76
62

72

-44
44

19

251

91

-69
-34
-16

267

-73
-7
423
-72

-35
179

Government
Life
Insurance
Fund

Federal
employees
retirement
funds

Highway
Trust
Fund

Federal
intermediate credit
banks j/

Other
trust
accounts

Treasury Bulletin

12
.

TEUST ACCOUNT AND

0TEDE3?

TRANSACTIONS

,

Table 5.- Net Redemption or Sale of Obligations of Government Agencies In the Market
(In millions of dollars; negative figures are excess of sales)

Securities not guaranteed by the United States

Securities guaranteed by the United States
Public enterprise funds
Fiscal year
or month

Total

V

Total
guaranteed

-602
-173
-1,085

-30
-33

-567
-71
-1,023
733
-658

-10
-29
-100
-204

1963 (Est.)..

-709

-18i4

1962-January.
February
March. ..

165

1955
1956

1957
1958
1959
1960
1961
1962 p

April.

.

May
June p..

July

119

37

6

Federa
Farm

Mortgage
Corporation

Federal
Housing
Administration

Home
Owners'
Loan
Corpo-

ration

Trust
enterprise
fund
D.

C.

stadium
fund

Public enterprise funds

Total not
guaranteed

V

Federa
intermediate
credit
banks 2/

Federa 1
National
Mortgage
Association

M

Home
Ovners'
Loan
Corporation

August 1962

13
THUST ACCOUNT AMD OTHEE TRANSACTIONS.

Table 6.- Intertruet Fund Transactions Excluded from Both
Net Trust Account Receipts and Net Trust Account Expenditures
(In millions of dollars)

Fiscal year
or month

Federa
Old-Age and
Survivors
Insurance
Trust Fund 1/

Federal Disability
Insurance
Trust
Fund 1/ 2/

RaiLroad
Retirement
Account
1/ 2/

1955
1956

Unemployment
Trust
Fund

V

Federal
employees'
ret Lrement
funds

V

District

Total

of

Columbia 6/

10

3

7
5

3
3

2

1957
1958
1959
1960
1961
1962 p

9

16
12

10

600

1

6
13

211
132
101

86

332
361

37

12
12

11
135
908
515
525

375

12

55

44

12

498

124

1963 (Est.)..

1962-January.
February
March.

32

7
15

U

.

April

May
June p.

10
10

361

11

11

10
10
384

July

Source:
See Table 1.
1/ Payments are made between the Railroad Retirement Account and the
Federal Old-Age and Survivors and Federal Disability Insurance trust
funds so as to place those funds in the position in which they
would have been if railroad employment after 1936 had been included
under social security coverage.
2/ Includes interest on amounts reimbursed to the Federal Old-Age and
Survivors Insurance Trust Fund for administrative expenses.
j/ Includes temporary advances to the Railroad Unemployment Insurance
Account in the Unemployment Trust Fund when the balance in the

^
^
6/
*
p

account is insufficient to meet payments of benefits and refunds due
or to become due.
Repayment of advances plus Interest to the Railroad Retirement Account.
See footnote 3.
Transfers from the Civil Service Retirement and Disability Fund to
the Foreign Service Retirement and Disability Fxind.
Contributions and beginning with 1958, transfers of deductions from
employees' salaries to the Civil Service Retirement and Disability Fxind.
Less than $500,000.
Preliminary.

Treasury Bulletin

14
TRUST ACCOUNT AND OTHER TRANSACTIONS.

Table 7.- Federal Old-Age and Survivors Insurance Trust Fund

i/

(In millions of dollars)

Expenditures other than investments

Receipts
Fiscal year
or month

Total 2/

Deposits by
States i/

Net earnings
on investments

Benefit
payments

^

,

,

1961
1962 p

,

,

1963 (Est.)

,

1961-July
August
September..

539.

837.0

533.7

14,170.5

13,538.0

266.0
1,589.3
760.0

17.7
216.1
-3.3

2.8
13.9

20.0

995.0
1,030.3
1,051.0

974.0
1,001.3
1,024.4

211.9
1,093.9
418.4

4.0
170.7
-1.8

20.0
13.7
206.2

1,046.5
1,065.3
1,008.8

1,019.9
1,041.3
1,042.7

141.1
1,489.0
1,031.0

3.5
153.4
10.4

3.1
13.9

4.7

1,086.4
1,096.2
1,116.7

1,056.2
1,069.1
1,094.2

727.6
2,302.5
1,120.0

671.6
2,012.0
927.5

34.2

267.2
-3.2

21.8
23.3
195.6

1,134.2
1,136.8
1,503.0

1,107.3
1,113.7
1,113.6

103,713.1

92,569.9

3,958.1

7,128.6

84,060.8

80,003.5

24,000.1
4,516.3
5,080.3
5,585.8
7,003.4
7,158.8
7,899.9
8,182.3
10,439.4
11,823.9 2/
12,022.2

21,819.9
4,086.3
4,537.3
5,039.6
6,336.8
6,301.2
6,870.4
7,157.7
9,271.9
10,537.2 2/
10,611.7

26.6
43.3
92.4
98.6
171.6
296.8
472.1
481.1
650.3
755.4
869.1

2,138.2
386.6
438.9
438.0

14,120.1 8/

12,669.0

286.5
1,819.3
776.7

,

.

October
November
December

. . .

April

May
June p

,

1937 to date p 2/

487,
555.
555,
543,
516,

11.6
9.6
7.4
5.2
1.6

530,

35.4

Expenditures, etc. - (Continued)

Fiscal year
or month

Payments
to Railroad
Retirement
Account

^

1937-52
1953
1954
1955
1956
1957
1958
1959
1960
1961
1962 p

1963 (Est.).

Construction IQ/

Reimbursement
to general
fund 11/

Bureau of
OASI 12/

Reimbxu'sement (-) from
Fed. Dis. Insurance
Trust Fund 12/

124.4
600.4
331.7
360.8

1.6
11.6
12.5
1.8
3.1

252.9
65.1
62.7
76.0
93.7
119.0
138.9
173.2
179.3
223.6
263.5

-9.1
-17.5
-28.8
-33.2
-60.3

375.0

1.9

-61.3

47.2

269.7

1961-July
August . .
September.

3.6
3.6
3.6

17.5

25.2
22.8

October. .
November.
December..

6.3
3.6
3.6

19.8
20.2
22.4

1962-January.
February
March...

3.7
3.7
3.7

26.0
23.3

April...

.

360.8

.3

3.4
3.4
3.4

1,417.4

31.1

632.0

May
1937 to date p 2/-

2
5

7
4

2/

477.3

(-), in

Total

Investments

assets

16,600.0
1,766.3
1,675.5
1,098.4
1,452.1
435.8
-216.3
-1,271.2
-712.7
71.6
-1,248.0

16,600.0
18,366.4
20,042.6 2/
21,141.0
22,593.
23,028.
22,812.
21,541.
20,828.
20,900.
19,652.

Unexpended
balance 14/

16,273.1
17,817.6
19,339.9
20,580.5
22,043.0
22,263.3
21,764.2
20,474.4
19,748.8
19,523.5
18,434.7

327.1
548.8
702.8
560.5
550.1
765.6
1,048.4
1,067.0
1,079.9
1,376.8
1,217.7

-50.4

19,774.1

18,696.5

1,077.6

-708.5
789.0
-274.3

20,191.9
20,980.8
20,706.5

18,987.
19,761.
19,408.

1,204.7
1,219.5
1,298.4

-810.5
213.0
-383.7

19,896.0
20,109.0
19,725.3

18,741.
18,773.
18,404.

1,154.5
1,335.6
1,321.0

18.6

-938.6
560.1
-70.6

18,786.7
19,346.8
19,276.2

17,576.4
17,933.6
17,994.3

1,210.2
1,413.2
1,281.9

23-4
19.5
24.9

-406.6
1,165.7
-382.9

18,869.6
20,035.3
19,652.3

17,674.9
18,776.1
18,434.7

1,194.7
1,259.2
1,217.7

1,648.3

19,652.3

19,652.3

18,434.7

1,217.7

See Table 1.
Source:
X/ Includes transactions under the predecessor Old-Age Reserve Account.
2/ Total includes: $15.4 million transferred from general fund for
administrative and other costs of benefits payable to survivors of
certain World War II veterans (60 Stat. 979 and 64 Stat. 512);
beginning November 1951, small amounts in the nature of recoveries
from expenditures incidental to the operations; and beginning 1958,
interest payments from Federal Disability Insurance Trust Fund, and
sale of waste paper.
2/ Includes unappropriated receipts beginning January 1%2. For basis,
see "Budget Receipts and Expenditures," Table 1, footnote 8.
i/ To cover employees of States and their political subdivisions, under
the Social Security Act Amendments of 1950 (42 U.S.C. 418).
See Table 9.
Reimbursement to the general fund pursuant to the Social Security Act
Amendments of 1950 and 1956 (42 U.S.C. 401 (g) (2)).
2/ Beginning fiscal 1961, refunds of taxes are reported as deductions
froo receipts.

^
^

58
75
73
79

Assets, end of period

291.1
24.4
26.0
27.1
30.7
30.9
34.5
39.0
39.4
43.8
45.3

.3

33.0
40.5
51.0
66.0

Net increase,
or decrease

Administrative expenses

.1
.1

June p.

Refunds of
taxes 6/

6,856.0
2,627.5
3,275.6
4,333.1
5,360.8
6,514.6
7,874.9
9,049.1
10,269.7
11,184.5
12,657.8

147.7
1,656.3
1,046.2

,

7,400.1
2,750.0
3,404.8
4,487.5
5,551.3
6,723.0
8,116.2
9,453.5
11,152.1
11,752.3 2/
13,270.2

236.0
1,278.3
625.0

1937-52
1953
1954
1955
1956
1957
1958
1959
1960

1962-January
February.
Uarch

Appropriations

2/

Payments from
Railroad Retirement AcGoxmt

-60.3

-148.9

8/

12/

U/
12/

12/

M/

Includes reimbursement of $78.0 million from the general fund, noncontributory military service credits.
Includes adjustments to monthly statement basis.
Construction and equipment of office buildings for ihe Bureau (Public
Law 170, approved July 31, 1953 - 67 Stat. 254).
Under the Social Security Act, as amended (42 U.S.C. 401 (g) (l)),
for administration of Titles II and VIII of that act and related
parts of the Internal Revenue Code (26 U.S.C. 480-482, 1400-1432).
See also footnote 12.
Salaries and expenses of the Bureau of Old-Age and Survivors Insurance are paid directly from the trust fund beginning 1947, under
provisions of annual appropriation acts until passage of the Social
Security Act Amendments of 1956 (42 U.S.C. 401 (g)(1)); previously
these expenses were included in reimbursements to the general fund.
See Table 8. This reimbursement is treated as a reduction in
administrative expenses paid from the Federal Old-Age and Survivors
Insurance Trust Fund. Figures exclude interest (see Footnote 2),
Includes unappropriated receipts beginning January 1962.
Less than 150,000.
p
Preliminary.

15

August 1962
TRUST ACCOUNT AND OTHER TRANSACTIONS

Table 8.- Federal Disability Insurance Trust Fund
(In millions of dollars)

Treasury Bulletin

16
.

TRUST ACCOUNT AND OTHER TRANSACTIONS

Table 10.- Unemployment Trust Fund

,

August 1962

17
TRUST ACCOUm' AND OTHER TRANSACTIONS

,

Table 11.- National Service Life Insurance Fund
(In millions of dollars)

Expenditures other
than investments

Receipts
Fiscal year
or month

1941-52
1953
1954
1955
1956

Total

Premiums and
other receipts

Transfers from
general fund

Interest on
investments

Benefits
Special
and refunds dividends

Net increase,
or decrease
(-), in
assets

Assets, end of period

Total

Investments

Unexpended
balance

512.0

Total

5,255.6
43.7
-3.3
52.6
137.3

5,255.6
5,304.3
5,301.0
5,353.7
5,491.0

5,190.6
5,249.5
5,272.5
5,345.6
5,481.1

65.0
54.8
28.5
8.0
9.9

11,229.0
636.6
619.3
590.5
649.3

5,511.1
397.7
390.8
405.5
410.2

4,406.9
84.0
72.1
27.8
78.4

1,311.1
154.9
156.4
157.2
160.7

5,973.4
588.0
622.6
537.8
512.0

1957
1958
1959
1960
1961
1962 p

607.5
639.8
634.3
642.6
667.6
666.0

424.8
459.1
453.4
459.9
483.8
484.9

19.3
14.4
12.2
10.3
8.4
6.9

163.4
166.2
168.8
172.4
175.4
174.2

515.0
543.6
562.1
581.6
707.5
629.2

515.0
543.6
562.1
581.6
707.5
629.2

92.5
96.2
72.3
61.0
-39.8
36.7

5,583.5
5,679.7
5,751.9
5,813.0
5,773.1
5,809.9

5,570.3
5,665.3
5,741.5
5,803.1
5,759.4
5,803.5

10.4
9.9
13.8
6.3

1963 (Est.)

695.0

505.0

182.0

604.7

604.7

90.2

5,906.0

5,903.0

3.0

41.5
41.2
36.7

40.7
40.4
36.0

.7
.8
.7

141.2
38.8
34.4

141.2
38.8
34.4

-99.7
2.4
2.3

5,673.4
5,675.8
5,678.1

5,665.4
5,667.4
5,670.4

8.0
8.4
7.8

October
November
December

41.0

40.5
38.9
37.2

.5

39.5
37.9

35.5
32.1

32.0

35.5
32.1
32.0

5.5
7.4
5.9

5,683.6
5,691.0
5,696.9

5,676.2
5,681.1
5,679.5

10.0
17.4

1962-January
February
March

48.4
40.1
44.5

47.8
39.4
43.9

.4
.5
.4

.1
.2

57.7
49.1
54.9

57.7
49.1
54.9

-9.3
-9.0
-10.4

5,687.6
5,678.6
5,668.2

5,676.7
5,665.6
5,656.5

10.
13.
11.

40.6
41.4
213.2

39.8
40.5
39.8

.6

.3

.6
.5

.3

54.0
48.9
50.6

54.0
48.9
50.6

-13.4
-7.6
162.7

5,654.8
5,647.2
5,809.9

5,648.0
5,639.7
5,803.5

7.5
6.3

17,582.5

9,881.1

4,740.9

2,960.6

11,772.6

11,772.6

5,809.9

5,809.9

5,803.5

6.3

1961- July
August
September...

April

May
June p

1941 to date p

.2

See Table 1.
This fund was established by the National Service Life Insurance
Act of 1940 (33 U.S.C. 720).

2,577.3
434.2
444.7
382.9

3,396.0
153.8
177.8
154.9

13.2

U.4

7.4

6.8

Less than $50,000.
Preliminary

Source:
Note:

Footnotes to Table 10
1/

2/

2/

^

V
6/

7/

8/

State unemployment funds; used for benefit payments mainly. Beginning
August 1961, withdrawals by States have been reduced by reimbursements
to State accounts from Federal Extended Compensation Account.
Established by the Employment Security Act of 1960, approved September
13, 1960 (42 U.S.C. 1101(a)), into which are deposited tax receipts transferred in accordance with the act (see "Budget Receipts and Expenditures," Table 1, footnote 11) and from which are paid the administrative expenses of the employment security program and reimbursement
Previously the corresponding amounts were included,
for tax refunds.
respectively, in budget receipts and budget expenditures, and only
the excess of receipts over expenditures, if any, was transferred
to the trust account by appropriation. Receipts consist of appropriated
and unappropriated transfers of tax collections. The Federal unemployment tax allows to the taxpayer credit for contributions to
State unemployment funds up to 90 percent of the tax.
Net of repayments.
Excess of collections from Federal unemployment tax over expenditures
for benefits and administrative expenses each year is deposited in this
account to maintain a reserve of $200 million available for loans to
States when needed to replenish the balances in their accounts in the
trust fund. Beginning 1961, these transfers are from the administration
fund in the trust account; previously they were from the general fund.
Any remaining excess is credited to the State accounts (42 U.S.C. 1101 1103).

Established by the act approved March 24, 1961 ( 42 U.S.C. 1105(a)), which
provides for a temporary program of extended unemployment compensation
payments.
For payment of benefits and refunds (45 U.S.C. 360). Figures exclude
interim advance of $15 million from the Treasury and subsequent
repayment, both in 1940.
Contributions under the Railroad Unemployment Insurance Act of 1938,
as amended (45 U.S.C. 360 (a)), in excess of the amount specified
for administrative expenses (see footnote 8).
Temporary advances are made when the balance in the Railroad Unemploy-

Insurance Account is insufficient to meet payments of benefits and
Whenever the balance is sufficient to
pay such benefits and refunds, repayments are made, plus interest at
3% per annum, pursuant to an act approved May 19, 1959 (45 D.S.C.
360 (d)).
Excess, if any, over specified balance at end of year is transferred
to the account (45 U.S.C. 361 (d)).
Consists of a specified proportion of contributions deposited in the
fund to be available for administrative expenses. The Railroad Unemployment Insurance Administration Fund was established in the Unemployment Trust Fund pursuant to the amending act of September 6,
1958; before that the administration fund was a separate trust fund
(45 U.S.C. 361).
Total includes $107.2 million transferred from State accounts to the
Railroad Unemployment Insurance Account in connection with its
establishment (45 U.S.C. 363).
Beginning fiscal 1961 refunds of taxes (principal only) are reported
as deduction from receipts.
Interest paid on refunds of taxes is
included under expenditures.
Includes $2.5 million for repayment of general fund advances, temporary
extended Railroad unemployment insurance, consisting of $.3 million in
May and $2.1 million in June.
Includes $155 million proposed for separate transmittal.
Includes repayment of general fund advances of $484 million for
temporary extended unemployment compensation and $11 million for
temporary extended Railroad unemployment insurance, ^so includes
$150 million proposed for separate transmittal.
Includes adjustments to monthly statement basis.
Includes unappropriated receipts beginning September 1960.
Excludes adjustment pursuant to the act of September 6, 1958 (45 U.S.C.
361 (a)); see footnote 19.
Includes an adjustment of $7.2 million pursuant to the act of September
6, 1958 (45 U.S.C. 361 (a)); see footnote 10.
Preliminary.
Less than $50,000.
p
refxinds due or to become due.

2/
10/

11/

12/

13/

14/
13/

16/
17/
18/
19/

»

Treasury Bulletin

18
THUST ACCOUNT AND OTHEE TRANSACTIONS.

Table 12.- Investments of Specified Trust Accounts In Public Debt Securities
by Issues, as of June 30, 1962
(In millions of dollars)

Federal Old-Age
and Survivors
Insurance Trust
Fund

Issue

Public issues:

Treasury notes:
4-7/8*
3-1/4
5

4-7/8
4-5/8

Series
Series
Series
Series
Series

15.0

C-1%3.
D-1%3.
B-1%4.

25.0

C-1964.
A- 1965.

38.5

Treasury bonds:

3

1964-69 (dated 4/15/43).
1964-69 (dated 9/15/43).
1966

22.2
33.0
25.0

3-3/8
3-3/4
3-5/8

1966
1966
1967

4.5
27.7

2-1/2
3-3/4
3-7/8

1967-72 (dated 10/20/41).

#
7.0
17.4

2-l/2){

2-1/2

34.2

1%8
1968

1%9

57.5

4

1971
1971

100.0

3-7/8
4-1/4
3-1/4

1974
1975-85
1978-83

3-1/2

1980
1980
1985

4

3-7/8

4

3-1/4
3-1/2
3

3-1/2
2-3/4

32.5

25.0
60.2
449.4
123.6
25.7

1990
1995
1998
Investoent Series B-1975-80.

556.2
85.2
552.0
1,064.9

3,381.9

Total public issues.
Special issues:
Certificates:
3-1/8*
3-3/4

Series 1963.
Series 1963.

1,080.0

Notes:

2-1/2*
2-5/8
2-5/8
3-3/4
3-3/4
3

Series
Series
Series
Series
Series
Series

1%3

Series
Series
Series
Series
Series

1963-1968.

1964
1963 to 1965.
1963 to 1967.
1964
1964 to 1967.

168.0

88.8

Bonds:

2-1/2*
2-1/2
2-5/8
3-3/4
3-3/4
Total special issues

Net unaiDortized premium and discount.

Accrued interest purchased
Total Investments

1964-1%8.
1965-1975.

3,924.7
8,572.0

1%7-1977.
1975-1976.

1,240.1

Federal Disability
Insurance
Trust Fund

Atujust 1962

19

CASH INCCME AND OUTGO
The cash Income and outgo data appearing In the Treas-

ury Bulletin,

beginning with the February 195^ l68ue, are

actions which are reported as both expenditures and receipts

are excluded from both.

Noncash Items representing the

on a basis consistent with receipts from and payments to

obligation of the Oovernment to make payments In the future

the public as derived In the 1957 and subsequent Budgets

also are eliminated from expenditures but are added later
when actual payments are made. These Items consist of
certain Interest accrued on the public debt, expenditures

of the United States (In the Budget for 1963 In Special

Analysis B).

Reconciliation to cash deposits and with-

drawals In the account of the Treasurer of the United States
Is

shown on the same basis as In the Budget documents.

There Is also shown the amount of net cash borrowing from,
By these arrange-

or repayment of borrowing to, the public.

ments,

data In accordance with the Budget classifications

are made available month by month.

Figures for back years

Involving the issuance of a few special public debt securities, and clearing accounts.

Receipts from the exercise

of monetary authority are excluded as not representing cash

received from the public.

Federal cash borrowing from the

public Includes net borrowing by the Treasury through public

debt transactions and also net borrowing by Government

have been revised where necessary In order to make them as

agencies and Government-sponsored enterprises through sales

nearly comparable with current Budget classifications as

of their own securities.

available data will permit.

debt which do not represent direct cash borrowing from the

For this reason certain of the

It excludes changes In the public

figures differ somewhat from those published In earlier

public.

Budget documents as well as In the Bulletin.

public Is reflected in changes In the balance In the Treas-

The Bureau of the Budget series of cash transactions

The net effect of all these transactions with the

urer's account and In cash held outside the Treasury.

designed to provide Information on the flow of money

Cash transactions through the Treasurer's account are

between the public and the Federal Oovernment as a whole,

similar In general concept to those Included In the Bureau

and therefore Includes transactions not cleared through

of the Budget series,

the Treasurer's account.

actions which affect the balance In that account.

Is

Receipts and payments Include

transactions both In budget accounts and In trust and deposit fund accounts.

Operations of Oovernment-eponsored

enterprises are Included In payments on
flected In Treasury reports.

a

net basis ae re-

but are limited In coverage to trans-

On the

other hand, they Include receipts from the exercise of
monetary authority, which are excluded from receipts from
the public In the Bureau of the Budget series.

Major Intragovemmental trans-

Table 1.- Summary of Federal Government Cash Transactions with the Public
(In millions of dollars)

Treasury Bulletin

20
.

CASH INCCME AND OUTGO

Table 2.- Derivation of Federal Government Receipts from the Public, and Reconciliation to
Cash Depoelte in the Account of the Treasurer of the United States

August 1962

21

CASH INCCME AND OUTGO

Table 3.- Derivation of Federal Government Payments to the Public, and Reconciliation to
Cash Withdrawals from the Account of the Treasurer of the United States

Treasury Bulletin

22
,

CASH INCCME AND OUTGO

Table 4.- Intragovernmental Transactions Excluded from Both Receipts and Payments
(In millions of dollars)

August 1962

23

CASH INCCME AND OUTGO

Table 5.- Accrued Interest and Other Noncash Expenditures Excluded from Payments
(In millions of dollars)

Noncash expenditures involving issuance
Net accrued

interest on
savings bonds
and Treasury
bills 1/

Period

of public debt securities

Clearing
account for
public debt
interest g/

Adjusted
service
bonds

^

Armed Forces
leave bonds 2/ International
Monetary Fund

Fiscal year:

497
456

1955
1956
1957
1958
1959
1960
1961
1962 p

388
254
801
341
222
641

1963 (Est.)

575

1961- Jan. - June
July - Dec.

Total

1962-January
February.
March
April

May
June p

Total
July

.

.

26
-15
234
91

87
231
6

35

2/
Special notes to -

8

International
Development
Association

6/

Inter-American
Development
Bank

Clearing
accoxmt
for
checks
outstanding,
etc.

2/

Treasurij Bulletin

2k
,

CASH INCCME AND OUTGO

Table 6.- Derivation of Federal Government Net Cash Debt Transactions with the Public,
and Reconciliation to Net Cash Debt Transactions through the Account of the
Treasurer of the United States
(Net borrowing, or repayinent of borrowing (-); In millions of dollars)

August 1962

25

CASH INCCME AND OUTGO

Table 6.- Derivation of Federal Government Net Cash Debt Transactions with the Public,
and Reconciliation to Net Cash Debt Transactions through the Account of the
Treasurer of the United States - (Continued)
(Net borrowing, or repayment of borrowing (-); in millions of dollars)

Treasury Bulletin

26
CASH INCCME AND OUTGO

Table 7.- Summary of Cash Transactions through the Account of the Treasurer
of the United States
(In millions of dollars)

August 1962

27
,

ACCOUNT OF THE TfffiASURER OF THE UNITED STATES

,

Source and Availability of the Balance In the Treasurer's Account
The account of the Treasurer of the United States
reflects not only budget receipts and expenditures but
also trust, deposit fund, and public debt transactions.

account to the tax and loan account In the same bauik. On
occasions, to the extent authorized by the Treasury,
banks are permitted to deposit In these accounts proceeds
from subscriptions to public debt securities enterfd for
their own account as well as for the account of their
customers.

The working cash of the Treasury Is held mainly in
Treasurer's accounts with Federal Reserve Banks and
branches.

As the balances In these accounts become dethey are restored by calling In (transferring)
funds from the tax and loan accounts with thousands of
commercial banks throughout the country.

pleted,

The tax and loan accoimt system permits the Treasury
to leave funds In banks and In the communities In which
they arise until such time as the Treasury needs the funds
for Its operations.
In this way the Treasury Is able
to neutralize the effect of Its fluctuating operations
on bank reserves and the economy.

Deposits to tax and loan accounts occur In the
normal course of business under a uniform procedure
applicable to all banks whereby customers of banks deposit
with them tax payments and funds for the purchase of
Crovernment securities.
In most oases the transaction
1-nvolves merely the transfer of money from a customer's

A detailed description of the Treasury's depositary
system may be found In the Annual Report of the Secretary
of the Treasury for 1955,

pages 275-2S4.

Table 1.- Status of the Account of the Treasurer of the United States
(In millions of dollars)

Assets

Treasury operating balance
End of
fiscal
year or
month

Available
funds in
Federal
Reserve
Banks
380
522

1955
1956
1957

498
410

1958

Tax and loan
accounts in
special
depositaries

Gold in
Treasury
fund

Total
operating
balance

Silver,
coin, and
currency

Unclassified
collections.

In Federal
Reserve
Banks in
process of
collection

Balance in
In other

depositaries

4,365
4,633
4,082
8,218

493
501
489
401

5,239
5,656
5,069
9,030

187
159
190
259

93
37
37
49

343
421
302

500
438
440

287

365

101
106
109
121

4,380
7,068
5,969
9,548

306
253
179

273
337
222
303

429

Total
assets

Liabilities
1/

accoiint of
Treas\irer
of U. S.

6,362
6,712

U6

6,037
9,990

447
240
100
87
75
79

5,350
8,005
6,694
10,430

2/

166

y

6,216 2/
6,546
5,590
9,749

1959
1960
1961
1962

408
612

3,744
6,458
5,453
8,815

U7

63
58
64
70

441

5,451
8,092
6,769
10,509

1961-December,

465

5,157

118

5,740

181

81

173

391

6,566

72

362

117
104
117

4,031
4,725
6,088

209
210
186

104

449
403

3,552
4,172
5,568

52
72

259
291
239

456
428
443

5,059
5,705
7,029

77
79

no

4,981
5,626
6,919

569
526
612

4,150
6,623
8,815

117
121
121

4,836
7,271
9,548

171
170
147

58
102
70

519
238
303

504
435
441

6,089
8,216
10,509

94

June

75
79

10,>i30

July

390

5,089

120

5,600

165

57

251

373

6,446

66

y

6,494

1962- January.
February,
March. . .

6,380

535
504

April.

May

. .

,

Source: Daily Treasury statement.
1/ Includes reserves and other deposits of the Board of Trustees, Postal
Savings System, and uncollected items, exchanges, etc. Post Office
Department and postmasters' disbursing accounts also are included
through November 1954.
(See footnote 2- ). Treasurer's checks outstanding are included through June 1958, after which they are included
in the balance in the Treasurer's account,
(See footnote 3),
2/ Beginning December 1954, Post Office Department and postmasters'
disbursing accoxmts are not treated as liability accounts of the
Treasurer of the United States, but are classified and treated

375
335

5,995
8,141

as other disbursing accounts, in accordance with the change in method
of reporting Post Office transactions (see "Budget Receipts and Expenditures," Table 3). An adjustment of -$207 million in the balance
in the Treasurer's account (and In the "clearing account") reflects

2/

this change.
Through June 1958, the balance of the Treasurer was reduced when
Treasurer's checks were issued and the amount of the checks was carried
as a liability until paid.
Effective July 1958, the balance is not
reduced xmtll the checks are paid, a procedxrre also applying to checks
drawn on the Treasurer by Government disbursing officers and affon«ies.

Treasury Bulletin

28
ACCOUNT OF THE TREASURER OF THE UNITED STATES,

Table 2.- Analysis of Changes In Tax and Loan Account Balances
(In millions of dollars)

Balance

Credits

Proceeds from sales of securities 1/
Fiscal year
or month

Savings
bonds

Tax
anticipation

Other

seciiritles

Daring period

Taxes

Withheld
and
excise 2/

IncQme (by
special
arrangement ) 2/

Withdrawals

Total
credits

1955
1956
1957
1958
1959

4,"i24

5,977
6,035
5,043
2,922
7,581

8,167
786
6,568
13,513
13,164

20,538
23,897
26,709
27,881
29,190

2,%7

42,074

3,810
2,976
2,824
2,668

4,611
4,152
7,903
5,919

39,

1960
1961

2,679
2,787
2,725

7,784
7,613
5,898

7,920
1,788
3,774

33,059
34,511
37,519

6,053

1962

1961-Decenber.

229
220

301

June

210
207
210

July

227

April

May

980

45,448
55,044
58,520

42,545
38,871
46,000
50,908
62,994

4,365
4,633
4,082
8,218
3,744

7,299
5,486
6,078
8,869
8,055

6,521

57,496
55,842
56,438

54,782
56,847
53,076

6,458
5,453
8,815

6,458
7,653
8,889

1,539

5,256

5,029

5,157

5,512

1,453

29

2,764
4,599
5,920

4,369
3,979
4,523

3,552
4,172
5,568

5,197
4,200
6,184

9,U2

4,370

UO

3,872

1,139

1,828

1,377
4,619
4,058

7

2,734
4,826
6,076

4,152
2,353
3,885

4,150
6,623

1,809

8,815

5,032
7,129
8,889

1,514

61

1,803

5,528

5,089

8,743

_L

Average

High

3,491

225

1962-January.,
February.
March...

End of
period

1,910

August 1962

29

.DEBT OUTSTANDING.

Table 1.- Summary of Federal Securities
(In millions of dollars)

Interest-bearing debt

Total outstanding

Matxired debt and debt bearing no interest

Public debt
End of
fiscal
year or

Total 1/

month

Public
debt 2/

Guaranteed

Public
debt

secxiri-

ties
2/

Guaranteed
securities
(matured)

y

477
460
444
430
417
407
396
484

106
101
110
139
240
444

58
115

292,689

330

3,480

3,480

463

2,388

115

293,111
293,549
292,485

344
369

400

3,405
3,436
3,605

3,403
3,434
3,603

385
396
356

2,390
2,411
2,620

115
115
115

25
25
25

487
437
487

444

293,765
295,948
294,886

293,361
295,519
294,442

404
429
444

3,592
3,656
3,759

3,591
3,655
3,759

343
351
438

2,620
2,648
2,667

115
115
115

25
55
55

487
486
484

443

294,363

293,918

445

3,960

3,958

343

2,962

115

55

483

296,169

330

293,019

296,513
296,983
296,088

347
371
402

293,455
293,919
292,885

296,952
299,174
298,201

405

June

297,357
299,604
298,645

July

298,324

297,876

1961-Deceiiiber.

296,499

1962- January.
February.
March. . .

296,860
297,354
296,489

May

Other

American
Development Bank

1,567
1,742
1,068
618
1,979
2,238
2,496
2,667

140
240
444

.

Association

Inter-

589
666
529
597
476
445
349
438

1960
1961
1962

.

International
Development

2,633
2,868
2,042
1,646
2,873
3,090
3,299
3,759

44
74
107
101
111

.

International

2,634
2,869
2,042
1,646
2,873
3,090
3,300
3,759

271,741
269,883
268,486
274,698
281,833
283,241
285,672
294,442

274,374
272,751
270,527
276,343
284,706
286,331
288,971
298,201

April

^

Special notes to Total

Monetary
Fund
271,785
269,956
268,592
274,798
281,944
283,380
285,911
294,886

274,418
272,825
270,634
276,444
284,817
286,471
289,211
298,645

1955
1956
1957
1958
1959

Guaranteed
securities

430

43
73

Daily Treastiry statement.
Source:
1/ Includes certain obligations not subject to statutory limitation. For
amounts subject to limitation, see page 1.
2/ Includes debt incurred for advances to certain wholly owned Government
agencies in exchange for which their obligations were issued to the
Treasury (see Table 6).
Held outside the Treasury.
Consists of Federal Housing Administration debentures, and also D. C.

55

488

Armory Board stadium bonds beginning July 1959.
Special notes of the United States issued to the International Monetary
Fund, the International Development Association, and the Inter-American
Development Bank in payment of part of the IT. S. subscription to each
(see "Budget Receipts and Expenditures," Table 3, footnote 10).
For current month detail, see "Statutory Debt Limitation," Table 2.
Less than $500,000.

^
6/
*

Table 2.- Computed Interest Charge and Computed Interest Rate on Federal Securities
(Dollar amounts in millions)

Computed annual interest rate

Total interest-bearing secxirities

End of
fiscal year
or month

Amount
outstanding
Public debt
and guaranteed securities 1/

271,785
269,956
268,592
274,798
281,944
283,380
285,911
294,886

1955
1956
1957
1953
1959
1960
1961
1962

1961-Dec ember

293,019

Public
debt

271,741
269,383
268,436
274,693
281,833
283,241
285,672
294,442
292,639

Computed annual
interest charge
Public debt
and guaranteed securities 1/

6,388
6,952
7,328
7,248
8,069
9,320
8,769
9,534

Public
debt

6,387
6,950
7,325
7,245
8,066
9,316
8,761
9,519

Public debt

Total
interestTotal
bearing
public
securidebt
ties

2.351
2.576
2.730
2.633
2.367
3.297
3.072
3.240

Marketable issues
Total
2/

Bills

2/

Treasury
bonds

Certificates

V

Guaranteed
securities

1/

.576
.619
.639
.829
.122

2.585
2.705
2.635
2.630
2.694
2.772
2.303
2.891

2.590
2.606
2.611
2.622
2.628
2.681

3.614

2.966

3.350

2.323

3.332

1.173
2.625
3.345
3.330
2.842
4.721
3.073
3.377

1.846
2.075
2.504
2.806
3.304
4.058
3.704
3.630

3.000

2.079
2.427
2.707
2.546
2.891
3.449
3.063

Special
issues

2.789
2.324
2.353
2.892
2.925
3.219
3.330
3.364

1.539
2.654
3.197
1.033
3.316
3.815
2.584
2.926

2.480
2.485
2.432

3.285

2.351
2.576
2.730
2.638
2.867
3.297
3.072
3.239

Nonmarketable
issues

3.W4
3.500

9,167

9,156

3.135

3.135

3.146

2.701

3.155
3.180
3.209

3.173
3.206
3.243

2.807
2.853
2.915

3.000
3.277
3.277

3.612
3.696
3.692

2.931
2.981
3.054

3.354
3.361
3.365

2.321
2.835
2.841

3.356
3.386
3.421

293,455
293,919
292,885

293,111
293,549
292,435

9,233
9,326
9,382

9,226

9,368

3.155
3.180
3.210

June. ...

293,765
295,948
294,886

3.216
3.236
3.240

3.215
3.236
3.239

3.253
3.280
3.285

2.927
2.927
2.926

3.277
3.377
3.377

3.692
3.681
3.680

3.065
3.117
3.122

3.367
3.370
3.364

2.846
2.879
2.891

3.461
3.438
3.500

294,363

9,427
9,553
9,534
9,538

9,413
9,543
9,519

July

293,361
295,519
294,442
293,913

9,523

3.247

3.247

3.295

2.973

3.377

3.679

3.122

3.369

2.883

3.509

1962-January.
February
March. .

April

May

9,3U

Daily Treasury statement.
Source:
Note:
The computed annual interest charge represents the amount of interest
that would be paid if each interest-bearing issue outstanding at the end
of each month or year should remain outstanding for a year at the applicable annual rate of interest. The charge is computed for each issue
by applying the appropriate annual interest rate to the amount outstanding on that date (the amount actually borrowed in the case of securities
sold at a premium or discount, beginning with May 1960). The aggregate
charge for all interest-bearing issues constitutes the total computed
annual interest charge. The average annual interest rate is computed
by dividing the computed annual interest charge for the total, or for

any group of Issues, by the corresponding principal amount. Beginning with data for December 31, 1958, the computation is based
on the rate of effective yield for issues sold at premium or disPrior to that date it was based on the coupon rate for all
count.
issues.

1/

2/
2/
it/

Includes only guaranteed securities held outside the Treasury.
Total includes "Other bonds" through May 1961; see Table 3.
Included in debt outstanding at face amount, but discount value is
used in computing annual interest charge and annual interest rate.
On United States savings bonds the rate to maturity is applied
against the amount outstanding.

Treasury Bulletin

30
.DEBT OUTSTANDING.

Table 3.- Interest -Bearing Public Debt
{In millions of dollars)

Public issues
End of
fiscal
year or

month

Ntirketable

lotai

interestbearing
public
debt

Total
public
Total

Bills

Certificates

Nonmarketable

Notes

Treasury
bonds

bonds

Total

savings
bonds

1/

1955
1956
1957
1958
1959

271,741
269,883
268,486
274,698
281,833

228,491
224,769
221,658
228,452
237,078

155,206
154,953
155,705
166,675
178,027

19,514
20,808
23,420
22,406
32,017

13,836
16,303
20,473
32,920
33,843

40,729
35,952
30,973
20,416
27,314

81,057
81,840
80,789
90,883
84,803

1960
1961
1962

283,241
285,672
294,442

238,342
240,629
249,503

183,845
187,148
196,072

33,415
36,723
42,036

17,650
13,338
13,547

51,483
56,257
65,464

81,247
80,830
75,025

1961-Dec.

292,689

249,169

195,965

43,444

5,509

71,526

1962-Jan.
Uar.

293,111
293,549
292,485

250,806
250,798
249,676

197,628
197,609
196,524

43,947
44,246
43,043

5,509
12,375
12,370

Apr.
May.
June

293,361
295,519
294,442

251,240
251,227
249,503

198,138
198,193
196,072

43,441
43,747
42,036

July,

293,918

250,122

196,870

42,838

Feb.

Treasury
bonds,

Llther

investf-

ment
series

Depositary
bonds

Other
2/

Special
issues

58,365
57,497
54,622
51,984
50,503

12,589
12,009
11,135
9,621
8,365

417
310
196
171
183

54,497
53,481
53,431

47,544

47,607

6,783
5,830
4,727

170
117
138

%0

44,899
45,043
44,939

75,486

53,205

47,458

5,074

154

519

43,520

71,574
64,400
64,538

76,598
76,588
76,573

53,178
53,189
53,152

47,500
47,549
47,569

5,008
4,972
4,840

148

522
522
599

42,304
42,751
42,809

12,371
13,547
13,547

64,511
65,435
65,464

77,815
75,465
75,025

53,10i
53,034
53,431

47,581
47,585
47,607

4,778
4,757
4,727

U3
138

600
549
960

42,122
44,291
44,939

13,547

65,477

75,008

53,252

47,653

4,713

116

769

43,796

71
50

50
50
50
50

Source: Daily Treasury statement.
Consists of Panama Canal bonds through May 1961, and also postal
savings bonds until the last of these bonds matured on July 1, 1955.
2/ Consists of Treasury savings notes (1955); Treasury bonds, R. E. A.
series beginning July 1960; certificates of indebtedness - foreign

73,285

69,817
65,953
61,777
59,050

47,5U

U6
144

W

1,913

43,250
45, lU

46,827
46,246
44,756
19

series beginning August 1961; and the dollar equivalent of
certificates of indebtedness, foreign currency series issued
and payable in Swiss francs from October 1961 through March
1962 and Italian lire beginning January 1%2.

^

Table 4.- Average Length and Maturity Distribution of Marketable Interest-Bearing Public Debt^
(In millions of dollars)

Maturity classes
End of
fiscal year
or month

Amount
outstanding

Within
1 year

1-5

5-10

years

years

10 - 20
years

20 years
and over

Average length

1955
1956
1957
1958
1959

155,206
154,953
155,705
166,675
178,027

49,703
58,714
71,952
67,782
72,958

39,107
34,401
40,669
42,557
58,304

34,253
28,908
12,328
21,476
17,052

28,613
28,578
26,407
27,652
21,625

3,530
4,351
4,349
7,208
8,088

yrs.
yrs.
yrs.
yrs.
yrs.

10 mos.
4 mos.
9 mos.
3 mos.
7 mos,

1960
1961
1962

183,845
187,148
196,072

70,467
81,120
88,442

72,844
58,400
57,041

20,246
26,435
26,049

12,630
10,233
9,319

7,658
10,960
15,221

yrs.
yrs.
yrs.

4 mos.
6 mos.
11 mos.

1961-December,

195 ,%5

85,913

64,874

19,782

11,976

13,419

4 yrs.

7 mos.

1%2-January.

197,628
197,609

64,921
62,910
59,679

20,918
20,916
23,720

11,959
11,954
10,677

13,4U

1%,524

86,416
88,417
87,209

June

198,138
198,193
196,072

88,055
90,577
88,442

59,206
55,549
57,041

24,976
26,178
26,049

10,670
10,664
9,319

July

196,870

89,244

57,055

26,045

9,313

February,
March. ...

April

May

15,213

4 yrs.

August 1962

31
.DEBT OUTSTANDING,

Table 5«- Special Public Debt Issues to United States Government Investment Accounts
(In millions of dollars)

End of fiscal
year or month

Total

Federal
Deposit
Insurance
Corporation

Federal
Disability
Insurance
Trust
Fund

Federal
home
loan
banks

200

Federal
Old-Age
and
Survivors
Insurance
Trust Fund

Federal
Savings
and Loan
Insurance
Corporation

18,239
19,467
19,463
18,610

94
103
103
112

6,168
6,667
7,394
7,738

1,233
1,217
1,200
1,144

17,227
16,413
16,200
15,074

116
104
138
182

8,608
9,397
10,414
11,382

1,127
1,107
1,071
1,028

GovernFederal
ment
employees*
Life
retirement
Insurance
funds
Ftind

High-

way
Trust
Fund

National
Service
Life
Insurance
Fund

5,346
5,481
5,570
5,665

Postal
Savings
System
1/

Accoxint

91
6

1955
1956
1957
1958

43,250
-VS.IU
46,827
46,246

335
673
718
673

325
996

1959
1960
1961
1962

4^,756
44,899
45,043
44,939

629
694
556
500

1,533
2,017
2,299
2,304

165

1961-DeGember,

43,520

543

2,237

50

15,076

120

10,718

1,025

75

42,304
42,751
42,809

538
596
564

2,170
2,208
2,222

78
78
126

14,227
14,584
14,639

120
120

10,764
10,818
10,879

1,021
1,017
1,012

80
118
217

495
496
500

2,192
2,267
2,304

57
76
74

14,313
15,415
15,074

44

1,006
1,001
1,028

417
436

5,648
5,640
5,804

47

74
182

10,988
11,050
11,382

328

J\ine

42,122
44,291
44,939

July

43,796

435

2,237

142

14,222

113

11,437

1,022

421

5,793

1962-January,
February.
March. .
.

April.

Uay

..

52
50

165

59

50
74

92

Dally Treasury statement.
Source:
1/ Includes Canal Zone Postal Savings System through July 1959.
March 1956),
2/ Consists of: Farm Tenant Mortgage Insurance Fund (through

404
822

429
1

234
436

Railroad
Retirement

Unemployment
Trust
Fund

Other

2/

3,486
3,600
3,475
3,531

7,479
7,737
7,996
6,671

79
112
123
120

3,417
3,586
3,504
3,316

5,636
5,530
4,625

4,657

126
138
192
156

5,679

3,135

4,707

153

5,677
5,666
5,657

3,045
2,996
2,976

4,430
4,394
4,215

156
155
155

26

2,900
2,893
3,316

3,952
4,775
4,657

152
153
156

18

3,244

4,578

133

5,742
5,803
5,759
5,804

5

26

56

35

Adjusted Service Certificate Fund (through December 1956), various
housing insurance funds, and Veterans' Special Term Insurance Fund.
Less than $500,000.

Treasury Bulletin

32
DEBT OUTSTANDING

Table 6.- Treasury Holdings of Securities Issued by Government
Corporations and Other Agencies
(In millions of dollars)

Agrieultore Department

End of
fiscal
year or
BOnth

Totel

Coomodity
Credit
Corporation

Rural
Electrification
Administration

Housing and Home
Finance Agency

Secretary: ExportImport
Farmers'
Bank of
Home
WashAdministration
ington
programs
2/

1/

1,971

22

1,092
1,092
1,092

121
121
121

1,530
1,530
1,530

1,%5

22
22

121
121
121

1,530
1,530
1,530

1,979
1,977
1,976

21

32

1,092
1,091
1,062

32

830

121

1,580

1,978

22

2,016
2,061
2,067

865
854
885

30

1,093

1,388
1,430
1,470

3,309
3,328
3,275

33

2,122
1,836
1,830

1,491
1,506
1,567

3,235
3,233
3,167

40

1,783

1,620

3,266

3,498
3,498
3,498

719
773

12,553
12,618
12,990

3,548
3,548
3,484

860

June. ...

28,593
28,389
28,634

July

27,836

12, W5

3,574

April

1,530

3,333

165
282

476
730
977

Source:
Daily Treasury statement.
Note:
These securities were issued to the Treas\iry in exchange for advances by the Treasury froo public debt receipts under congressional
authorization for specified government corporations and other agencies
to borrow from the Treasury.
Further detail may be found in the 1%1
Annual Report of the Secretary of the Treasury, page 736, and the 1961
Combined Statement of Receipts, Expenditures and Balances of the United
States Government, page 494.
X/ Farm housing and other loan programs, and Agricultural Credit Insurance
Fund (formerly Faro Tenant Mortgage Insurance Fund).
2/ Includes securities transferred from the Reconstruction Finance Corporation, but excludes securities issued under the Defense Production
Act.
Consists of notes issued to borrow for: the urban renewal program
j/
(formerly sluD clearance program); college housing loans; and public
facility loans beginning fiscal 1956.
i/ Consists of liabilities taken over by the Association from the
Administrator in accordance with the act approved August 2, 1954, and
notes iasued by the Association under authority of that act (12 U.S.C.
1719 (c), 1720 (d), and 1721 (d)) and also securities transferred

2/

6/

2/

U

121

1,356

12,095
12,163
12,389

May

491

1,180
1,330
1,530

14

32
32

130

Other

2/

11
21
18
22
21
22
22

2,000

840

program

Under
Defense
Production
Act
of 1950

1,002
1,144
1,294
1,723
1,950
1,970
1,964
1,976

1,213
1,567

27,789
28,013
28,303

February
March

loan

97

695

1962- January.

ity

112
118
121
121

3,423

27,527

1960

^

Veterans'

AdminisValley. tration:
Author- Direct
Tenn.

584
733
780

11,952

1961-December

1957
1958
1959

Inter-

national
Development

Saint
Lawrence
Seaway
Development
Corporation

1,209
1,213
1,198
1,188
1,164
1,138
1,107
1,062

3,155
3,332
3,484

1961
1962

16,175
20,049
22,731
21,859
25,343
25,636
26,011
28,634

1955
1956

^

61
38
41

1,310
1,239
1,205
1,528
1,937
1,636
1,698
1,830

2,207
2,343
2,519
2,728
2,923

Public
Housing
Administration

1,966
1,954
1,741
1,502
2,351
2,338
3,202
3,167

162
151
265
256
323
369
456
854

7,608
11,190
13,383
11,528
12,874
12,704
11,534
12,990

Federal
Adminis- National
Mortgage
trator
Associ2/
ation

Agency
for

35

27
29

33

37

42

3

16
48

930

1,962
1,961

22
21
22

from the Reconstruction Finance Corporation.
And predecessor agencies. Beginning fiscal 1957, figures exclude notes
previously issued by the Administrator in connection with informational
media guaranties. The obligation of these notes was assumed by the
Director of the United States Information Agency, pursuant to the act
approved July 18, 1956 (22 U.S.C. 1442), and the notes together with
others issued for the same purpose are included in "Other."
Consists of notes of: the Administrator, General Services Administration, for defense materials procurement; the Secretary of Agricultxire;
the Secretary of the Interior (Defense Minerals Exploration Administration); the Export- Import Bank of Washington through March 1962;
and the Secretary of the Treasury.
Consists of notes issued by the: Secretary of the Treasury; Small
Business Administration, fiscal years 1955-57; United States
Information Agency for informational media guaranties beginning fiscal
1957 (see footnote 5); Secretary of Commerce (Maritime Administration)
for the Federal Ship Mortgage Insurance Fund fiscal years 1959-61;
Virgin Islands Corporation beginning fiscal 1960; and District of
Columbia Commissioners for the Stadium Sinking Fund beginning June 1962

*

Auciust 1962

33
.DEBT OUTSTANDING.

Table 7.- Interest -Bearing Securities Issued by Federal Agencies But Not
Guaranteed by the United States Government
(In millions of dollars)

Federal National
Mortgage Association
End of fiscal
year or month

Total

for
cooperatives

Banlcs

Federal
home loan
banks 1/

Federal
intermediate
credit banks

Federal land
banks 2/ j/

Management
and liquidating issues

All other
issues

100
1,050
1,165

5,-123

110
133
179
199

341
929
738
456

793
834
924
1,159

1,061
1,322
1,552
1,646

570
570
570
797

284
330
382
430

992
1,259
1,055
1,797

1,456
1,600
1,723
1,855

1,888
2,137
2,357
2,550

797
797

1962

6,708
8,407
7,765
9,332

1961-Dec ember.

8,574

434

1,571

1,585

1962-January.
February.
March. . .

8,819
8,770
8,995

434
452
452

1,683
1,443
1,602

June

8,911
9,049
9,332

4A1
441
430

July

9,593

430

1955
1956
1957
1958

2,876
3,889
5,013

1959
1960
1961

April.

May

. .

Source:
Office of Debt Analysis and agency reports.
Note:
The securities shovm in the table are public offerings.
The proprietary interest of the United States in these banks
1/
ended in July 1951.

Tennessee
Valley
Authority

1,290
2,284
2,198
2,556

U5

2,431

2,453

100

1,569
1,602
1,644

2,431
2,495
2,495

2,602
2,633
2,658

100
145

1,501
1,566
1,797

1,718
1,781
1,855

2,495
2,550
2,550

2,612
2,566
2,556

145
1A5
145

2,108

1,926

2,550

2,435

145

2/

2/

50

145

The proprietary interest of the United States in these banks ended
June 1947.
Figures do not include securities which are issued for use as collateral for commercial bank borrowing and not as a part of public
offerings.

Treasury Bulletin

3'*

STATUTORY DEBT LIMITATION.
1956); $5 billion from February 26, 195S, through June 30,
1959 (act of February 26, 195S); 310 billion from July 1,

3I U.S.C. 757b). as
The Second Liberty Bond Act
amended by an act approved June 30, 1959, provides that
the face amount of obligations Issued under authority of
that act, and the face amount of obligations guaranteed as
to principal and interest by the United States (except
guaranteed obligations held by the Secretary of the Treasury) shall not exceed In the aggregate S2S5 billion out(

through June

1959,

billion from July

30,

1,

i960 (act of June 30, 1959); $S
through June 30, I96I (act of

I96O,

June 30, i960); $13 billion from July

1,

1961,

and an addi-

tional $2 billion from March I3, 1962, through June 30,
(acts of June 30,

196I,

1962

and March 13, I962); and $23 billion

1, I962, through March 3I, I963, $20 billion from
April 1 through June 2l^, I963, $15 billion from June 25
through June 30, 1963 (act approved July 1, I962). Obligations Issued on a discount basis and subject to redemption

standing at any one time. The corresponding limitation In
effect under the act of June 26, 1$'^, was S275 billion and
that under the act of September 2, 195S, was S2S3 billion.

from July

temporary Increases have been authorized as
follows: 36 billion from August 2g, 195!^, through June 30,
1956(act8 of Aigust 28, 195!^, and June 30, 1955); J? billion
from July 1, I956, through June 30, 1957 (act of July 9,
In addition,

prior to maturity at the option of the owner are Included
In the statutory debt limitation at current redemption

values.

Table 1.- Statue under Limitation, July 31, 1962
(In mllllona of dollars)

Maximum amount of securities which may be outstanding at any one time under limitation inclosed by the act
of June 30, 1959 (31 U.S.C. 757b), as increased temporarily by the act of July 1, 1962

308,000

Amount of securities outstanding subject to such statutory debt limitation:
U. S. Covemracnt securities Issued under the Second Liberty Bond Act, as amended
Guaranteed securities held outside the Treasury

297,443

W8
297,891

Total amount of securities outstanding subject to statutory debt limitation.

10,109

Balance issuable under limitation
Source:

Daily Treasury statement.

Table 2.- Application of Limitation to Public Debt and Guaranteed Securities
Outstanding July 31, 1962
(In millions of dollars)

Subject to
statutory debt
limitation

Class of security

Public debt:
Interest-bearing securities:
Marketable:
Treasury bills
Certificates of indebtedness.
Treasury notes
Treasury bonds

Total
outstanding

42,838
13,547
65,477
75,008

196,870

196,870

670

Total marketable

670

75

47,653
116
4,713
24

53,252

fecial Issues to Government agencies and trust funds.

75

47,653
116
4,713
24

Total nonmarketable

53,252

43,796

343

52
1

52
1

2,962
115

Debt bearing no interest:
United States savings stamps
Excess profits tax refund bonds
Special notes of the United States:
International Monetary Fund series
International Development Association series
Inter-American Development Bank series
Uni ted States notes (less gold reserve
Deposits for retirement of national bank and Federal Reserve Bank notes.
Other debt bearing no interest

293,918

341

Uatured securities on which interest has ceased

43,7%

293,918

Total Interest-bearing securities.

2,962
115

55

55

191
138
101

Total debt bearing no Interest

3,185

Guaranteed securitlee: i/
Interest-bearing
Matured

430

297,U3

Total public debt.

433

445
2

Total guaranteed securities

448

Total public debt and guaranteed securities.
Daily Treasury statement.

limitation

42,838
13,547
65,477
75,006

Nonmarketable:
Certificates of indebtedness, foreign series
Certificates of indebtedness, foreign currency series.
U. S. savings bonds (current redemption value)
Deposi tary bonds
Treasury bonds. Investment series
Treaaury bonds, R. E. A. series

Source:

Not subject to
statutory debt

297,891

1/

Held outside the Treasury.

433

191
138
101
3

August 1962

35

PUBLIC DEBT OPERATIONS

Table 1.- Maturity Schedule of Interest-Bearing Public Marketable Securities
Outstanding July 31, 1962
Other Than Regular Weekly Treasury Bills

36

August 1962

37

PUBLIC DEBT OPERATIONS

Table 2.- Offerings of Treasury Bills
(Amounts of millions of dollars)

Treasury Bulletin

38
PUBLIC DEBT OPERATIOIB

Table 2.- Offerings of Treasury Bills

Average price
per hundred

Price per hundred

f99.303
\98.546

5

2.757
2.875

Equivalent rate

U

Price per hundred

99.305
98.555

Hi

Equivalent rate 4/
(Percent)

(Percent)

(Percent)

Ragular weekly bills;

1962-Apr.

^

Low

High

Equivalent average
rate

(Continued)

On competitive bids accepted

On total bids accepted

Issue data

-

2.749
2.858

99.300
98.542

Z.Tb')

2.726
2.825

2.884

Apr.

12

/99.312
\98.577

2.720
2.814

99.318
98.590

2.698
2.789

99.311
98.572

Apr.

19

f99.312
198.572

2.723
2.825

99.316
98.577 ,2/

2.706
2.815

99.308
98.568

2.738
2.833

Apr.

26..

r99.307
\98.566

2.740
2.837

98.574

2.714
2.821

99.305
98.562

2.749
2.844

May

3

f99.305
\98.562

2.748
2.845

99.310
98.570

2.730
2.829

99.303
98. 560

2.757
2.848

Usy

10

/99.313
|99.576

2.719
2.816

99.318
98.585

2.698
2.799

99.312
98.572

2.722
2.825

May

17

|99.331
\98.613

2.646
2.744

99.337
98.620

2/

2.623
2.730

99.329
98.606

2.655
2.757

Usy

24

[99.317
198.579

2.700
2.795

99.322 12/
98. 587 li/

2.682
2.780

99.312
98.576

2.722
2.801

May

31

f99.329
\98.613

2.656
2.743

99.335
98.616

2.631
2.738

99.325
98.609

2.670
2.751

June

7

f99.320
\98.591

2.691
2.787

99.329
98.598 12/

2.655
2.773

99.317
98.590

2.702
2.789

June

lA

/99.325
\98.606

2.671
2.758

99.331
98.612 12/

2.647
2.745

99.321
98.604

2.686
2.761

June

21

f99.312
198.585

2.721
2.800

99.320 14/
98.592 15/

99.310
98.580

2.730
2.809

June

28p

f99.294
198. 548

2.792
2.872

99.30c
98.557

w
ly

2.690
2.785
2.769
2.854

99.291
98.544

2.805
2.880

July

5p

f99.259
198.479

2.930
3.008

99.269 18/
98.494

2.892
2.979

99.257
98.464

2.939
3.038

July

12p

f99.248
198.435

2.974
3.096

99.258
98.454

935

99.245
98.425

2.987

19p

r99.246
198.416

2.983
3.133

99.260
98.431 12/

2.927
3.104

99.244
98.407

2.991
3.151

26p

f99.269
198.431

2.892
3.103

99.273
98.440 20/

2.876
3.086

99.265
98.426

2.908
3.113

27
23

97.986
98.536

2.705
2.896

98.042 21/
98.549 2^

2.630
2.870

97.975
98.529

2.720
2.910

1961-Apr.
July
Oct.

15
15

97.134
97.051
96.992

2.827
2.908
2.975

97.171 22/
97.101
97.037 2A/

2.790
2.859
2.930

97.117
97.039
96.979

2.844
2.920
2.988

1962-Jan.
Apr.
July

15
15

96.588
97.012
96.698

3.366
2.943
3.257

%.6U
97.0U

3.340
2.918

96.730 26/

3.225

July

July

99.

3U
S/

.058

3.115

Tax anticipation bills

1961- Sept.
1962-Mar.

Other bills;

{f/

y
fj/

2/
S/
2/
i!i/

11/

16

15

Bank discount basis.
Except 1300,000 at 99.329, $100,000 at 99.313, and $100,000 at 99.310.
Except $300,000 at 98.964.
Except $100,000 at 98.595, and $40,000 at 98.580.
Except $1,300,000 at 99.317, and $500,000 at 99.316.
•.
Kx-?r- %
at 98.625.
It 99.332.
It 98.619, $50,000 at 98.612, and $737,000 at 98.608.
.

18/

12/
2fl/

21/

.

U/
12/
14/
12/
IS/

25/

^^.610.
-637, and $250,000 at 98.632.
.

i

'.330.

Except $.iuO,uOu at 98.605, and $50,000 at 98.602.
Except $300,000 at 99.317, and $200,000 at 99.312.

22/
22/

2V
2^

%.572

3.381

97.002
96.682

2.957
3.273

Except $10,000 at 98.583.
Except $300,000 at 99.304.
Except $200,000 at 98.450, and $9,000 at 98.438.
Except $100,000 at 98.450.
Except $200,000 at 98.400, $200,000 at 98.385, $200,000 at 98.365,
$100,000 at 98.155, $200,000 at 98.101, $400,000 at 98.079, $100,000
at 98.064, $100,000 at 98.056, and $100,000 at 98.050.
Except $100,000 at 99.625.
Except $1,500,000 at 97.182.
Except $100,000 at 97.070.
Except $20,000 at 97.000, $100,000 at %.852, $1,000,000 at 96.654,
and $3,000,000 at %.624.
Except $50,000 at %.852, $200,000 at 96.806, $100,000 at 96.800,
$25,000 at 96.781, $400,000 at 96.756, and $2,000,000 at %.745.
Preliminary.

August 1962

39

PUBLIC DEBT OPERATIOie

Table 3.- New Money Financing through Regular Weekly Treasury Bllle
(DollBr amounts in millions)

Description of iasus
Issue
date

1953-Apr.

23.

May
May
May

21.
28.

June
June
June
June

A.
11,
18.
25

July
July
July

16.

7.

2.
9.

Sept. 10.

1955-July
July
July
July

21.
28.

Aug.
Aug.
Aug.
Aug.

U.
11.
18.
25.

7.

U.

1.
Sept.
Sept. 8.
Sept. 15.
Sept. 22.
Sept. 29.

1957-Jan.
Feb.
Feb.
Feb.
Feb.

31.
7.

U.
21.
28.

Mar.
Mar.

U.

Dec.
Dec.

19.
26.

1958-Jan.
Jan.
Jan.
Jan,

16,
23.

Mar,

13.

7.

2.
9.

Sept, 11,
Sept, 18.
Sept, 25.
Oct,
Oct,
Oct,
Oct.
Oct.

Nov

2,
9.

16.
23.

30,

6

Nov.

13.

Dec.

11,

Dec.

18,

Dec.

26

1959-Jan.

2

Jan,

8

Jan,

15

Maturity
date

Treasury Bulletin

l^o

PUBLIC DEBT OPERATIONS

Table 3.- New Money Financing through Regular Weekly Treasury Bllle
(Dollar amounts In millions)

Description of Issue

Maturity
date

Issue
date

1959-Uar.

5

Uar.

12

Uar.

l'<

Mar.

26

Au«.

13

Aug.

20

Aug.

27

1960-Uay

19

Usy

26

June

2

I961-J8n.

19

Jen.

26

Feb.

2

Uar.

30

Apr.

6

Apr.

i/

13

May

i.

May

11

July

20

Aug.

)l

Oct.

19

Oct.

26

1962-Feb.

1

Feb.

15

Feb.

23

Uar.

1

Uar.

8

Uar.

!)

Uar.

^2

Uar.

29

Footnotes at end of table

-

(Continued)

August 1962

ki
PUBLIC DEBT OPERATIONS

Table 3.- New Money Financing through Regular Weekly Treasury Bills

<Contlnued)

(Dollar amounts in millions)

Description of issue
Issue
date

Number of
days to
maturity

Maturity
date

Amount
of bids
tendered

Amount
of bids
accepted

Average rate
on bids
accepted 1/

New money
increase, or
decrease (-

(Percent)

1962-July

1962-Apr.

5..

Apr.

12..

Apr,
Apr.

26..

May

10.,

91
182

$2,225
1,217

$1,201
601

2.757
2.875

$100

12
11

91
182

2,470
1,088

1,200
600

2.720
2.814

99
99

Oct.

July
Oct.

July
19-

5

Oct.

July
Oct.

19
18

91
182

2,237
1,241

1,201

600

2.723
2.825

26
25

91
182

2,103
1,168

1,201
600

2.740
2.837

99

91
182

2,524
1,352

1,204
602

2.719
2.816

105

98

Aug.
Nov.

May

24..

Aug.
Nov.

23
23

91
183

2,096
1,247

1,300
600

.700
,795

May

31..

Aug.
Nov.

30
29

91
182

2,330
1,339

1,301
601

.656
.743

102

91
182

2,302
1,557

1,301
702

.691
.787

202
199

June

Sept.
Dec.

7.,

13
13

91
182

2,200
1,568

1,300
700

2.671
2.758

91

2,594
1,136

1,301
701

2.721
2.800

199

June

M.

Sept.
Dec.

June

21.

Sept.
Dec.

20
20

182

June

2Sp

Sept.
Dec.

27
27

132

2,257
1,338

1,300
700

2.792
2,872

200

2,212
1,202

1,301
700

2.930
3.008

200

2,365
1,126

1,301
700

2.974
3.096

201

2.983
3.133

201

892
103

200

91

Oct.
1963- Jan.

4
3

91
182

12p

1962- Oct.
1963- •Jan.

11
10

91
182

July

19p

1962- •Oct.
1963- Jan.

18
17

91
182

2,454
1,068

1,302
700

July

26p

1962- Oct.
1963- Jan.

25
24

91

2,127

1,298

182

1,362

703

July

5P

•

July

Information in Table 3 covers bill offerings
See Table 2.
January 2, 1953, through July 31, 1962.
Equivalent average rate on bank discount basis.

Source:

2/

1/

p

Beginning March 12, 1959, the 13-week bills represent additional
issues of bills with an original maturity of 26 weeks,
Preliminary.

Treasury Bulletin

i^2

PUBLIC DEBT OPERATIONS

Table 4.- Offerings of Public Marketable Securities Other Than
Regular Weekly Treasury Bills
Date subscrip-

Auqast

l%2

^3
PUBLIC DEBT OPEEIATIONS

Table 4.- Offerings of Public Marketable Securities Other Than
Regular Weekly Treasury Bills - (Continued)
Date subscription books
opened or bill
tenders received

Period to final
maturity
(years, months,
days) 2/

Date
of

Description of security

l/

issue

Amount of subscriptions tendered
Cash

2/

Exchange

Amount issued
For
cash 2/

In exchange

Allotment
ratio

(In millions of dollars)

159d

2.414

-

1/11/57

1/16/57

3.305)6 Bill

2/4/57

2/15/57
2/15/57

3-3/8J8 Certificate
3-1/2^ Note

2/7/57

2/15/57

3.23i;C Bill

3/18/57

2/15/57
2/15/57

3-3/8;S Certificate
3-1/2^ Note

2/14/53-A
5/I5/6O-A
4/1/62-EA

5y

551

551

100

4/15/58-B
2/15/62-A

ll-ki

2,351
647

2,351
647

(100

6/24/57

Tax ant. 8/
(At auction)

2/14/58-A
5/15/6O-A

ly

3y

Tax ant. 8/
(At auction)

6/24/57

Reopening
Reopening

8,414
1,464

3in

8,414
1,464

129d

1,750 20/

lOki
3y

2,302
7,489
5,868

2,437
942

i>

4/1/57

1-1/2^ Note

5/6/57

5/1/57
5/1/57

3-1/2^ Certificate
3-5/8^ Note

5/22/57

5/27/57

2. 82558 Bill

9/23/57 - Tax ant.
(At auction)

119d

6/26/57

7/3/57

3.48556 Bill

3/24/58

Tax ant. 8/
(At auction)

264d

8/1/57

3-5/8^ Certificate Certificate Note
4^

5,/

1,601 20/

4y 9im

^

12/1/57-E
8/1/58-C
8/1/61-A 22/

}21/

1,501
3,002

4,547

4m
ly
4y

9,871
10,487
2,509

100
100
100

9,871
10,487
2,509

7/22/57

8/^57
8/^57

8/U/57

8/21/57

9/16/57

8/1/57
9/26/57
10/1/57

4?
4?
4*

10/1/57

1-1/2)6 Not-e

lO/l/62-Ea

5y

11/20/57

ril/29/57
\ 12/2/57

3-3/4^ Note
3-7/8% Bond

ll/15/62-C
11/15/74

4y llim
16y llim

11/21/57

12/1/57

3-3/4% Certificate -

12/1/5 8-D

ly

9,833

9,833

100

2/14/59-A
2/15/64
2/15/90

ly

6y
32y

9,770
3,854
1,727

9,770
3,854
1.727

[100

5/

456

4.173)6 Bill

Certificate
Note
Bond

4/15/58 - At auction
-

2/U/58

2-1/256 Certificate -

2/3/58

2/14/58
2/14/58

3%

2/28/58

2/28/58

356

Bond
3-1/256 Bond

8/1/58-C - Reopening
3/15/62-B 2V
10/1/69

237d

3,178

1,751

lOm
4y llm
I2y

3,067
6,121
4,648

933
2,000
657

Bond

8/15/66

8y sin

4/1/58

1-1/256 Note

4/1/63-EA

4/7/58

4/15/58

2-5/8% Note

2/15/63-A

6/3/58

6/3/58

3-1/4% Bond

6/4/58

6/15/58
6/15/58

1-1/4% Certificate 2-5/8% Bond

7/21/58

8/1/58

1-5/8% Certificate -

7/29/58

8/6/58

1-1/2% Certificate -

590
7,786
3,817

5y

S/

10/1/58

1-1/2% Note

10/8/58

5/

3.25)6

5/15/59-B
2/15/65

15,741

3,971

2,570

1,135

8m

lO/l/63-EO

3-1/2% Note

ll/15/59-B

11/14/58

11/20/58

2.999% Bill

6/22/59

11/19/58

12/1/58
12/1/58

3-3/8% Certificate
3-5/8% Note

1/12/59

1/21/59
1/23/59

Special at fixed
price

5,805

214d

5,950

2,997

22/

3-1/4% Note
Bond
4%

5/15/6O-B
2/15/8O

Issued at 99-3/4
Issued at 99.00

ly 4m
21y Im

2/2/59

2/15/59
2/15/59

3-3/4% Certificate
Note
4%

2/I5/6O-A
2/15/62-D

Issued at 99.993
Issued at 99.993

ly

2/11/59

2/16/59

3.293% Bill

3/23/59

4/1/59
10/1/57

4%
4%

1-1/2% Note
3.386% Bill

5/6/59

5/11/59

3.835% Bill

5/15/59

3.565% Bill

5/15/59

4?

4y lim
lOy 6m

12/22/59 - Tax ant. 8/
(At auction)

5/11/59

Footnotes at end of table.

Certificate -

11,363
1,435

1,743
619

5/15/60-B - Issued at 99.95
(Continued on following page)

26/
22/
457

457

5y
At auction

iioo

1,502

3,052
1,502

[100

2S/
11,363
1,435

2,984

4/15/60 - At auction

5/7/59

-

7,711
4,078

2,738
884

5,508
1,800

3y

4/1/64- EA

1/15/60

7,711
4,078

ll-im

9/21/59 - Tax ant. 8/
(At auction)

4/1/59

22/

1,184

2y 5|m

4/1/59

100

2,735

Issued at 99.95
Issued at 99-7/8

3/26/59

100

506

506

2,686

Tax ant. S/
(At auction)

Reopening

21/
[100

13,500

ly Im

5/15/63-B
10/1/69

22/

3,567

219d

11/15/59-E
5/15/6I-B

Note
Bond

22/
100

1,817
7,388

13,500
5,962

5y

5/15/59

10/10/58

1,817
7,388

ly

8/1/59-C

3/24/59-D - Tax ant. 9/

Bill

26/

533

26y 11m

100

2^

1,484
533

22/
26/

1,143
654

6,715

11m
6y 8m

9/29/58

\

590

4y 10m

5/15/85 - Issued at 100|

100 22/

289d

3,445

340d

3,461
1,699

1,269

100

2,003

221d

100

2,006

1,500

ly

1,269

Treasury Bulletin

1^
PUBLIC DEBT OPEKATIONS

Table 4.- Offerings of Public Marketable Securities Other Than
Regular Weekly Treasury Bills - (Continued)
Date subscrip-

August 1962

^5

PUBLIC DEBT OPERATIONS

Table 4.- Offerings of Public Marketable Securities Other Than
Regular Weekly Treasury Bills - (Continued!
Date subscrip-

Treasury Bulletin
1^6

PUBLIC DEBT OPERATIONS.

Footnotes to Table 4.- (Continued)

1^/

ii/

j^
17/

^6/

i2/

22/
?!/

22/
23/

2^
2i/

2h/

Subscriptions for smounts up to snd including 50,000 were sllotted
Subscriptions for amounts over $50,000 were allotted 50
In full.
percent but in no case less than $50,000.
Cash subscriptions for $100,000 or less were allotted in full. Subscriptions for more than $100,000 were allotted 62 percent but in no
case less than $100,000.
Subscriptions for $100,000 or less were allotted in full. Subscriptions for more than $100,000 were allotted 19 percent but in no case
less than $100,000.
Subscriptions from savings-type investors totaled $749 million and
were allotted 65 percent. Subscriptions from all other investors
totaled $970 million and were allotted 30 percent. Subscriptions
for $25,000 or less were allotted in full. Subscriptions for more
In addition to the
than $25,000 were allotted not less than $25,000.
amount allotted to the public, $25 million of the bonds were allotted
to Government Investment accounts. Savings-type investors were given
the privilege of deferring payment for the bonds, provided that not
leaa than 25 percent was paid by July 20, 1955, not less than 60 percent by September 1, 1955, and full payment by October 3, 1955.
Subscriptions for $100,000 or less were allotted in full. Subscriptions for more than $100,000 were allotted 32 percent but In no case
less than $100,000.
Subscriptions for $100,000 or less were allotted in full. Subscriptions for more than $100,000 were allotted 29 percent but in no case
less than $100,000.
Issued as a rollover of bills maturing January 16, 1957, and
February 15, 1957, respectively.
Subscriptions In excess of $100,000 were allotted 31 percent for the
certificates and 12 percent for the notes. Subscriptions for
$100,000 or less for both Issues were allotted in full and subscriptions for more than $100,000 were allotted not less than $100,000.
In addition, $100 million of the notes were allotted to Government
investment accounts.
Redeemable at the option of the holder on August 1, 1959, on three
months' advance notice.
In addition to the amounts Issued In exchange, the Treasury allotted
$100 million of each issue to Government Investment accounts.
Redeemable at the option of the holder on Febniary 15, 1960, on
three months' advance notice.
Subscriptions In excess of $100,000 were allotted 22 percent for the
certificates and 28 percent for the notes. Subscriptions for
$100,000 or less for both issues were allotted in full, and subscriptions for more than $100,000 were allotted not less than $100,000.
In addition, $100 million of each issue were allotted to Government
Investment accounts.
Subscriptions for $50,000 or less were allotted in full. Subscriptions for more than $50,000 were allotted 10 percent but in no case
less than $50,000.
In addition, $100 million of the bonds were
allotted to Government investment accounts. Payment of not more
than 50 percent fould be deferred until not later than October 21,
1957.

Subscriptions for $10,000 or less were allotted In full. Subscriptions for more than $10,000 were allotted 25 percent to savingstype investors and 12 percent to all other subscribers but in no
case less than $10,000.
In addition, $100 million of the notes were
allotted to Government investment accounts
Subscriptions for $10,000 or less were allotted in full. Subscrip2fl/
tions for more than $10,000 were allotted 26 percent to savings-type
investors and 10 percent to all other subscribers but in no case
less than $10,000.
In addition, $100 million of the bonds were
allotted to Government investment accounts.
Subscriptions for $10,000 or less were allotted in full. Subscrip22/
tions for more than $10,000 were allotted 20 percent but in no case
less than $10,000.
In addition, $100 million of the bonds were
allotted to Govemnent Investment accounts
J2/ Sukecrlptions for $25,000 or less were allotted in full. Subscriptions for more than $25,000 were allotted 2i percent but in no case
less than $25,000.
In addition, $100 million of the notes were
allotted to Government Investment accounts.
Subscriptions for $5,000 or less were allotted In full. Subscriptions
Jl/
for more than $5,000 were allotted 60 percent to savings-type investors, iO percent to connerclal banks for their own account, and
25 percent to all other subscribers, but in no case less than $5,000.
In addition, $100 million of the bonds were allotted to Government
investment accounts.
Subscriptions for $100,000 or leas were allotted in full. SubscripXi/
tions for more than $100,000 were allotted 59 percent but In no case
less than $100,000.
12/ Subscriptions for $100,000 or less for the bills and $50,000 or less
for the notes were allotted In full. Subscriptions for more than the
minimum for each Issue were allotted 44 percent on bills and 35 percent on notes but In no case less than the minimum.
In addition,
$100 million of the notes were allotted to Government Investment
accounts.
2i/ aibacriptlons for $100,000 or less were allotted in full. Subscriptlons for more than $100,000 were allotted 47 percent but in no case
less than $100,000.
ii/ Subscriptions from savings-type investors totaled $720 million and
were allotted 70 percent. Subscriptions from commercial banks for

22/

their own account totaled $470 million and were allotted 35 percent.
Subscriptions from all other investors totaled $610 million and were
allotted 15 percent. Subscriptions for $25,000 or less were allotted
in full when accon?)anied by 100 percent payment at the time of entering the subscriptions. All other subscriptions for $5,000 were
allotted in full. Subscriptions for more than $5,000 were allotted
not less than $5,000. In addition, $50 million of the bonds were
allotted to Government investment accounts. Savings-type Investors
were given the privilege of paying for the bonds allotted to them in
Installjiients up to April 23, 1959 (not less than 25 percent by
January 23, 1959, the issue date; 50 percent by February 24, 1959;
75 percent by March 23, 1959; and full payment by ;^rll 23, 1959).
36/ Subscriptions for $100,000 or less were allotted in full. Subscriptions for more than $100,000 were allotted 50 percent but in no case
In addition, $100 million of the notes were
less than $100,000.
allotted to Government investment accounts.
37/ Subscriptions from savings-type investors totaled $240 million and
were allotted 65 percent. Subscriptions from commercial banks for
their own account totaled $941 million and were allotted 35 percent.
Subscriptions from all other investors totaled $322 million and were
allotted 20 percent. Subscriptions for $25,000 or less from savingstype Investors and commercial banks, and for $10,000 or less from all
others, were allotted in full. Subscriptions for more than these
In addition,
mlnimums were allotted not less than the minimums.
$50 million of the bonds were allotted to Government investment accounts.
subscriptions of $25,000 or less, totaling $941 million,
i8/ Full-paid
were allotted in full. Subscriptions from savings-type investors
totaled $1,361 million and were allotted 45 percent. Subscriptions
from commercial banks for their own account totaled $6,390 million
and were allotted 8 percent, but not less than $1,000 on any one
subscription. Subscriptions from all other investors totaled $2,433
million and were allotted 5 percent, but not less than $1,000 on
any one subscription.
In addition, $100 million of the notes were
allotted to Government investment accounts.
i2/ Holders of approximately $1,600 million of Series F and G savings
bonds issued in 1948, irtiich mature in 1960, were offered in exchange
the 4-3/4)6 notes, with certain adjustments as of December 15, 1959,
at a price of 99-3/4!^. Smaller denominations of savings bonds could
be exchanged for the next higher multiple of $1,000 of the notes
Cash payments amounted to $3
\Q)on payment of any cash difference.
million.
Issued as a rollover of maturing one-year bills
41/ Savings-type investors were given the privilege of paying for the
bonds In Installments up to June 15, 1960 (not less than 40 percent
by April 14, the delivery date; 70 percent by May 15; and full
payment by June 15), In addition to the amounts allotted to the
public, $100 million of the bonds were allotted to Government investment accounts.
42/ Subscriptions for $100,000 or less were allotted in full. Subscriptions for more than $100,000 were allotted 30 percent but in no case
In' addition, $27.4 million of the notes were
less than $100,000.
allotted to Government Investment accounts.
i2/ Subscriptions for $25,000 or less were allotted in full. Subscriptions for more than $25,000 were allotted 85 percent but in no case
less than $25,000.
In addition, $71 million of the notes were
allotted to Government Investment accounts.
yj Subscriptions were permitted to be made with payment in cash or in
i-3/ii Treasury notes maturing August 15, 1960 (see Table 6, footnote 22). In addition in order that holders of 3-5/8)t Federal
National Mortgage Association notes maturing August 23, 1960, might
have an opportunity to reinvest the proceeds, the Secretary of the
Treasury^ in behalf of the Association, offered to purchase such
notes on August 15, 1960, at par and accrued Interest to the extent
that such subscriptions were allotted and the proceeds from the par
amount of the notes were applied to payment, in whole or in part,
for the new securities,
Combined total Includes $80 million allotted on subscriptions from
holders of the Federal National Mortgage Association notes maturing
August 23, 1960 (see footnote 44).
46/ Consists of allotments on subscriptions from holders of Treasury
notes maturing August 15, 1%0.
i2/ Subscriptions from States, political subdivisions, or instrumentalities thereof, public pension and retirement and other public
funds, international organizations in which the United States holds
membership, foreign central banks and foreign States, Government
investment accounts, and the Federal Reserve Banks as provided in
the offering circular, totaled $6,285 million and were allotted in
full.
Subscriptions subject to allotment totaled $11,104 million
and were allotted in full up to and including $25,000; all others
were allotted 13 percent but in no case less than $25,000.
iS/ Subscriptions totaled $1,181 million from savings-type investors
and $100 million from Government investment accounts; both were
allotted 25 percent.
Subscriptions from commercial banks for their
own accounts totaled $2,708 million and were allotted 20 percent.
Subscriptions from all others totaled $1,190 million and were
allotted 15 percent. Subscriptions for $5,000 or less were allotted
in full; subscriptions for more than $5,000 were allotted not less
than $5,000.
Remaining footnotes on following page.

^

August 1962

^7

PUBLIC DEBT OPERATIONS

Footnotes to Table 4.- (Ck)ntinued)
49/

pp/

51/

52/
53/

54/

55/

$1

6/

^

58/

59/

60/

61/

In addition to the amounts allotted to the public, there were
allotted to Government investment accounts $131.3 million of the
3-1/2^ bonds of 1980, $215.9 millioti of the 3-l/2^ bonds of 1990,
and $236.5 million of the 3-l/2?g bonds of 1998.
Holders of approximately $750 million of Series F and G savings bonds
Issued in 1949, which mature in I960, were offered in exchange the
A% bonds, with certain adjustments as of December 15, I960, at a price
of 100^.
Smaller denominations of savings bonds could be exchanged
for the next higher multiple of $500 of the bonds upon payment of any
cash difference. Cash payments amounted to $365,375.
Subscriptions were permitted to be made with payment in cash or in
4-7/8^ Treasury certificates maturing February 15, 1961 (see Table 6,
footnote 26).
Consists of allotments on subscriptions from holders of certificates
of indebtedness maturing February 15, 1961.
Subscriptions from States, political subdivisions or instrumentalities
thereof, public pension and retirement and other public funds, international organizations in which the United States holds membership,
foreign central banks and foreign States, Government investment
accounts and the Federal Reserve Banks, as provided in the offering
circular, totaled $4,364 million and were allotted in full. Subscriptions subject to allotment totaled $14,619 million: those
up to and including $10,000 were allotted in full; all others were
allotted 20 percent but in no case less than $10,000.
In addition to the amounts allotted to the public, there were allotted
to the Federal Reserve Banks and Government investment accounts
$39 million of the 3-3/8^ bonds of 1966 and $540 million of the
3-5/85K bonds of 1967.
Subscriptions were permitted to be made with payment in cash or in
the 4-3/4^ Treasury certificates or 3-5/8% Treasury notes, both
maturing May 15, 1961 (see Table 6, footnote 29).
Consists of allotments on subscriptions from holders of certificates
of indebtedness and Treasury notes maturing May 15, 1961.
There were allotted in full all subscriptions totaling about $2,379
million for the certificates and $1,258 million for the notes, from
States, political subdivisions or instrumentalities thereof, public
pension and retirement and other public funds, international organizations in which the United States holds membership, foreign central
banks and foreign States, Government investment accounts, and the
Federal Reserve Banks, as provided in the offering circulars. Subscriptions from all other investors were subject to allotment and
totaled $11,445 million for the certificates which were allotted
27 percent, and $11,631 million for the notes which were allotted
12 percent; subscriptions for $25,000 or less were allotted in full,
and subscriptions for more than $25,000 were allotted not less than
$25,000.
Sale of a "strip" of Treasury bills, consisting of an additional $100
million for cash of eighteen series of weekly Treasury bills maturing
from August 3, 1961, to November 30, 1961.
In addition to the amounts allotted to the public, there were allotted
to the -Federal Reserve Banks and Government investment accounts $480-4
million of the 3-l/2^ bonds of 1980, $160.6 million of the 3-l/2^ bonds
of 1990 and $289.5 million of the 3-l/2^ bonds of 1998.
Subscriptions for $100,000 or less were allotted in full. Subscriptions
for more than $100,000 were allotted 37 percent but in no case less
In addition, $100 million of the notes were allotted
than $100,000.
to Government investment accounts.
Sale of a "strip" of Treasury bills, consisting of an additional $100
million for cash of eight series of weekly Treasury bills maturing
from December 7, 1961, to January 25, 1962.

62/

6^/

64/

6p/

6 6/

67/
68/

6^/

20/

2i/
2Z/

73/

74/

p

Includes $2 million allotted to Government investment accounts of the
3-1/A% notes, $4 million of the 3-3/43^ bonds of 1966, and $136 million
of the 3-3/4^ bonds of 1974.
Holders of approximately $970 million of Series F and G savings bonds
issued in 1950, which mature in 1962, were offered in exchange the
3-7/8% bonds with certain adjustments as- of December 15, 1961, at a
price of 99-50. Smaller denominations of savings bonds could be exchanged for the next higher multiple of $500 of the bonds upon payment of any cash difference.
Cash payments amounted to about $306,000.
Subscriptions for $50,000 or less were allotted in full. Subscriptions for more than $50,000 were allotted 60 percent but in no case
In addition, $100 million of the bonds were
less than $50,000.
allotted to Government investment accounts.
Includes $3,411 million allotted to Federal Reserve Banks and Government investment accounts of the 3-l/2% certificates and $1,518 million
of the A% notes.
In addition to the amounts allotted to the public, there were allotted
to Government investment accounts $385 million of the 4/6 bonds of 1971,
$177 million of the A% bonds of 1980, $218 million of the 3-l/2^ bonds
of 1990 and $221 million of the 3-l/2% bonds of 1998.
Issued for cash and in exchange for tax anticipation bills maturing
March 23, 1962 (see Table 6, footnote 31).
Subscriptions for $50,000 or less were allotted in full- Subscriptions
for more than $50,000 were allotted 15 percent but in no case less
than $50,000. In addition, $100 million of the bonds were allotted
to Government investment accounts.
Includes $2,166 million allotted to Federal Reserve Banks and Government investment accounts of the 3-1/45^ certificates, $14 million of
the 3-5/8^ notes, and $64 million of the 3-7/8^ bonds.
Subscriptions were permitted to be made with payment in cash or in
(see
the A% notes or 3-1/45? notes, both maturing August 15, 1962
Table 6, footnote 32)Consists of allotments on subscriptions from holders of Treasury
notes maturing Au^st 15, 1962.
Subscriptions from States, political subdivisions or instrumentalities
thereof, public pension and retirement and other public fiinds, international organizations in which the United States holds membership,
foreign central banks and foreign States, Government investment
accounts, and the Federal Reserve Banks totaled $4,760 million for
the certificates and were allotted in full, in accordance with the
offering circular. Subscriptions from all others totaled $15,395
million and were allotted 12-1/2 percent with subscriptions for
$50,000 or less allotted in full and those for more than $50,000
allotted not less than $50,000Subscriptions for the A% bonds totaled $6,743 million and were
allotted 22 percent with subscriptions for $100,000 or less
allotted in full and those for more than $100,000 allotted not
less than $100,000In addition, $100 million of the bonds were
allotted to Government investment accounts.
In
All subscriptions for the 4-l/4y? bonds were allotted in full.
addition, $50 million of the bonds were allotted to Government
Investment accounts. Savings-type investors were given the
privilege of paying for the bonds allotted to them in installments
up to October 15, 1962 (not less than 30 percent by August 15,
1962, the issue date; 60 percent by September 15, 1962; and full
payment by October 15, 1962).
Preliminary.

Treasury Bulletin
iiS

PUBLIC DEBT OPERATIONS

Table 5.- AllotmentB by Investor Claeeee on Subscriptions for Public Marketable Securities
Other Than Regular Weekly Treasury Bills i/
(In millions of dollars)

Issue

1

August 1962

i;9

PUBLIC DEBT OPERATIONS

Table 5.- Allotments by Investor Classes on Subscriptions for Public Marketable Securities
Other Than Regular Weekly Treasury Bills ^ (Continued)
(In millions of dollars)

Issue

Treasury Bulletin
50
PUBLIC DEBT OPERATIONS

Securities
Table 5.- Allotments by Investor Classes on Subscriptions for Public Marketable
Other Than Regular Weekly Treasury Bills i/ - (Continued)
(In millions of dollars)

Issue

1

August 1962

51

PUBLIC DEBT OPERATIONS

Table 5.- Allotments by Investor Classen on Subarr lot ions for Public Marketable Securities
Other Than Regular Weekly Treasury Bills V - (Continued)

Treasurij Bulletin

52
PUBLIC DEBT OPEEIATIONS

Table 6.- Disposition of Matured Public Marketable Securities
Other Than Regular Weekly Treasury Bills

August 1962

53

PUBLIC DEBT OPERATIONS

Table 6.- Dlspoeitlon of Matured Public Marketable Securities
Other Than Regular Weekly Treasury Bills - (C!ontinued)

3^

August 1962

55
PUBLIC DEBT OPERATIONS

Table 6.- Dlsposit ion of Matured Public Marketable Securities
Other Than Regu lar Weekly Treasury Bills - (Continued)
Called or maturing security
Date of
refunding
or retirement

Issue
date

Description

Disposition offers
by Treasury

1/

Amount
outstanding

Results of exchange offers

Exchange

Cash
retirement

secxirity

Exchanged

offered

Description of new
secxirity offered
(See also Table 4)

Turned
in for
cash 2/

(In millions of dollars)

3-3/8^ Certificate -

ll/15/59-E

12/1/58

7,711

[6,534

7.711

\
3-1/256 Note

11/15/59

-

11/15/59-B

10/10/58

Total maturities

*

Note

4^

1,184

f

457

8,894
-

8/15/62-B

9/26/57

Total

8,894

2.000

529

1,684 12/

10,895

4-7/856 Note

7,037
.3,011

529

10,049

10,895

4-3/456 Certificate - II/I5/6O-C
- 11/15/63-C
4-7/856 Note

'4-3/4^ Certificate - II/I5/6O-C
- 11/15/63-C
4-7/856 Note

223

8,365

2,000

I

.

504

I

1,184

306

871

- ll/15/63-C

of 4-3/456 Certificate
of 4-7/^ Note

y

12/22/59

3.565JS Bill

-

12/22/59

5/15/59

1,500

1,500

1/15/60

3.386i? Bill

-

I/15/6O

4/1/59

2,006

2,006 18/

'3-3/456 Certificate -

2/15/6O-A

2/15/59

11,363

6,829

J

11,363

4/1/55

Total.

198

r

198

11,561

1

109

1

4/1/6O-EA

1-1/256 Note

2/15/60

32

9/26/57

3/22/6O
3/22/6O

7/8/59
7/8/59

3,005
999

3,005
999

4/1/60

1-1/256 Note

4/1/6O-EA.

'i/l/55

57

3.83556 Bill

4/15/60

5/11/59

2,003

5/15/60-B

5/15/59

1,269

4-7/8^ Certificate - 2/15/61-A
4-7/856 Note
11/15/64-C

[6,938
[4,195

427

11, 134

928
243

I

'1,038
.1,086

I

of 4-7/856 Certificate
of 4-7/^ Note

57

4/15/60

4-7/856 Certificate - 2/15/61-A
- 11/15/64-C
4-7/856 Note

.

I

1,269

8/15/62-B

[

57

11,561

Bill
3.71956 Bill

r

370

14,163

2/15/60

Note

456

-

('4.07556

3/22/60

I

Certificate -

456

3-1/256 Note

-

5/I5/6O-A

159 12/

159

2/

y

2,003 18/

2/15/57

2,406

2,406

1/21/59

2,738

2,738

5/15/60

'

3-1/456 Note

-

5/15/6O-B

.

Total.

6,413

5,787

6,413

[4.7835? Bill
4.72656 Bill

6/22/60
6/22/6O

10/21/59
10/21/59

2,002
2,016

6/23/60 20/

2-1/256 Bond

11/15/61

2/15/54

11,177

7/15/60

4.7285? Bill

7/15/6O

7/15/59

2,001

8/15/60

4-3/456 Note

8/15/6O-C

8/1/59

9,561

10/1/60

1-1/256 Note

IO/1/6O-EO

10/1/55

278

Bond
Bond
Bond
Bond

6/15/62-67
12/15/63-68
6/15/64-69
12/15/64-69

5/5/42
12/1/42
4/15/43
9/15/43

2,109
2,815
3,737
3,811

4. 86056 Bill

10/17/60

12/2/59

2,007

II/15/6O-C

11/15/59

7,037

7,037

8/15/54

3,806

3,806

6/22/60

2,002
2,016

1,708
784

4-3/8? Certificate 4-5/856 Note

5/15/6I-B
5/15/65-A

(4-3/8? Certificate 1 4-5/856 Note

5/I5/6I-B
5/15/65-A

246

1-4-3/8? Certificate [4-5/8? Note

5/15/6I-B
5/15/65-A

626

[3,674
12,113

f

98

1

282

}

of 4-3/8? Certificate
of 4-5/^ Note

2/
2/
'3,500 23/
.1,500 21/

3-3/4? Note
3-7/8? Bond

3,893
320

-

5/15/64-D
5/15/68

2,001 18/
5,751
28

9,561 22/

3-1/8? Certificate
13-7/8? Bond

8/1/6I-C
5/15/68

sV

3-1/2? Bond
3-1/2? Bond

II/15/8O
2/15/90

2V

3-1/2?

11/15/98

'

3,781 22/

278

f

2-1/256
2-1/256
2-1/256
2-1/256

10/3/60 2Q/

Jotal
10/17/60

't,.j/A%

11/15/60

.

2,109 25/

4,500

2-1/856 Bond

11/15/60

25/'

2,3«

6,609

12,473

Certificate

643
993

3,979

2,007 18/

6,«1
I

[2,667
t

Total.
06 756 Bill

1/15/61

5.

2/15/61

4-7/8^ Certificate

3/15/61 2^/

2-I/456
2-1/456
2-5/856
2-1/256

10,844

10,844

Bond
Bond
Note
Bond

Total

Footnotes at end of table.

1/15/61

I/15/6O

1,504

2/15/61

2/15/60

6,938

6/15/59-62
12/15/59-62
2/15/63-A
8/15/63

6/1/45
11/15/45
4/15/58
12/15/54

5,262
3,449
3,971
6,755

19,436

335

878

1/4? Note
3/4? Bond

-

271

2/15/62-F
5/15/66

1/4? Note
3/4? Bond

-

262

2/15/62-F
5/15/66

10,311

3,670

3,268

[9,098
ll,213

533

of 3-1/4? Note
of 3-3/4? Bond

1,504 18/

6,938 26/
5,000 28/

3,000 287
8,000

(Continued on following page)

'l,296
1,177
1,131
2,438

6,041

22/

3-1/4?

-

8/15/62-G

3-5/8? Bond

-

11/15/67

3-3/8? Bond
of 3-3/8? Bond
of 3-5/8? Bond

[2,438
13,604

11/15/66

Treasury Bulletin
56
PUBLIC DEBT OPERATIONS

Table 6.- Disposition of Matured Public Marketable Securities
Other Than Regular Weekly Treasury Bills - (Continued)

August

19()2

57
PUBLIC DEBT OPERATIONS

Table 6.- Disposition of Matured Public Marketable Securities
Other Than Regular Weekly Treasury Bills - (Continued)

Treasury Bulletin

5«
PUBLIC DEBT OPERATIONS

Footnotes to Table 6.- (Contlnuedl

2y

22/

26/

22/

22/

22/

:2fl/

ii/

32/

ExoesB of maturing 4-3/4)t Treasury notes over allotments of new
securities on subscriptions from holders of those notes (see Table 4,
footnotes 44 and 46).
Reopening of an earlier issue.
Itolders of 2-i./Z% Treasury bonds maturing June 15, 1967, December 15,
1968, June 15, 1%9, and December 15, 1969, were offered the option
to exchange the bonds during the period from September 12, 1960, to
September 20, 1960, Inclusive, the first for 3-l/2){ bonds of 1980,
the second for 3-l/2)t bonds of 1990, and the other two for 3-l/2){
bonds of 1998, subject to allotment if the combined total of subscriptions for the bonds of 1990 and 1998 exceeded an outside limit
of *4.5 billion.
Holders of the maturing certificates were not offered preemptive
rights to exchange their holdings, but were permitted to present
them In payment or exchange, in whole or In part, for the 3-l/4)f
notes offered in the amount of around J6.9 billion. For detail of
offering, see Table 4.
Excess of maturing 4-7/8){ certificates over allotments of new
securities on subscriptions from holders of those certificates
(see Table 4, footnotes 51 and 52).
From March 20 through Uarch 22, 1961, owners of 2-\/l,% bonds of June
15, 1959-62, 2-l/4!f bonds of December 15, 1959-62, 2-5/8Jf notes
maturing February 15, 1963, and 2-l/2St bonds maturing August 15, 1963,
were granted the option of exchanging their holdings. The first
three were exchangeable for a new 3-5/8!f bond due November 15, 1967,
and the last for a new 3-3/83C bond due November 15, 1966. Exchanges
were subject to allotment If subscriptions exceeded <5 billion for
the bonds of 1967 or $3 billion for the bonds of 1966.
Holders of the maturing certificates and notes were not offered
preemptive rights to exchange their holdings, but were permitted to
present them in payment or exchange, in whole or in part, for the
15,250 million offering of 3)8 certificates or the <2,500 ollllon
offering of 3-l/4!{ notes. For detail of offering, see Table 4.
Excess of maturing 4-3/85t certificates and 3-5/8it notes over
allotments of new securities on subscriptions from holders of those
certificates and notes(see Table 4, footnotes 55 and 56).
1,569 million were redeemed for cash and ^168 million were exchanged for the tax anticipation bills dated Uarch 23, 1962 (see
Table 4).
Holders of the maturing notes were not offered preemptive rights
to exchange their holdings, but were permitted to present them
in payment or exchange, in whole or in part, for the $6,500
million offering of 3-l/2> certificates, the Jl,500 million
offering of 4< bonds, or the 750 million offering of 4-l/4!{
bonds.
For detail of offering, see Table 4.

33/

p

Note:

Excess of maturing 4)f notes and 5-l/4!f notes over allotments
of new securities on subscriptions from holders of those notes
(see Table 4, footnotes 70 and 71).
Preliminary.

Information on retirement of

August 1962

59

UNITED STATES SAVINGS BONDS.
Series E and H are the only savings bonds currently

being sold.

Series E has been on sale since May

1,

and Series H has been on sale since June 1, 1952.

A-D were sold from March

1,

1935,

Series F and G were sold from May

through April
1,

19'+1,

30,

19'+1.

30,

1952. Series J and K were sold from May 1,

1952 through

April 30, 1957. Details of the principal changes In Issues,

Series

interest yields, maturities, and other tenDs appear In the

191*1,

Treasury Bulletins of April 1951, May 1952, May 1957, Octo-

through April

ber and December 1959,

and May and October 196I,

Table 1.- Sales and Redemptions by Series, Cumulative through July 31, 1962
(In millions of dollars)

Treasury Bulletin

60
.UNITED STATES SAVINGS BONDS.

Table 3.- Sales and Redemptions by Periods, Series E through K
(In millions of dollars)

^

Redemptions

Period

Sales

i/

Accrued
discount

Sales plus
accrued
discount

Sales
price

Total

2/

AjDOunt outstanding

Accrued
discount

2/

Interest-bearing
debt

Series E and H combined
Fiscal years:
1941-1954 i/.
1955 i/
1956
1957
1958
1959

1,133
1,161
1,174
1,194
1,254
1,331

82,040
6,348
6,374
5,746
5,831
5,680
5,501
5,717
5,753

44,558
4,544
4,730
5,176
5,187
5,107
5,502
4,627
4,603

42,058
3,911
4,069
4,444
4,129
4,310
4,616
3,906
3,873

2,500
633
661
732
1,058
797
886
721
731

37,482
39,285
40,929
41,498
42,142
42,716
42,715
43,806
44,955

8,626
1,113
1,124
1,143
1,178
1,169
1,224
1,293

84,977
6,481
6,167
5,649
5,867
5,489
5,574
5,832

46,744
4,652
4,832
5,469
4,856
5,519
4,996
4,484

43,946
3,998
4,162
4,686
4,129
4,636
4,202
3,781

2,798
654
670
783
727
883
794
703

38,233
40,063
41,398
41,578
42,589
42,559
43,137
44,485

362
374

132
102
110

608
465
483

483
376
396

395
315
338

89
6i
59

44,610
44,699
44,786

June....

349
353
363

104
99
128

454
452
491

401
402
424

342
337
355

59
66
70

44,839
44,888
44,955

July

358

134

492

398

330

67

45,049

1%0
1961
1962

Calendar years:
1941-1954
1955
1956
1957
1958
1959

1%0
1961

Months:
1962-January.
February
Uarch...

April...

May

73,979
5,225
5,260
4,613
4,670
4,506
4,307
4,464
4,421

8,061
1,123

76,352
5,368
5,043

4,507
4,689
4,320
4,350
4,539

476

1,1U

Series F, G, J, and K combined
Fiscal years:
1941-1954 V1955 i/
1956
1957
1958
1959

29,848
1,249
586
268

729
108
100
83
65
54

1%0
1%1
1%2

46
32

27

Calendar years:
1941-1954
1955

1956
1957
1958
1959
1960
1961

30,472
907
475

98

784
103
92
74
58
52
38

29

Months:

1%2-January.
February
March...
April...

May
June....

July

30,577

^

:

, ,

Auqust 1962

61

.UNITED STATES SAVINGS BONDS.

Table 3.- Sales and Redemptions by Periods, Series E through K

(Continued)

(In millions of dollars)

Redemptions

Period

Sales

1/

Accrued
discount

Sales plus
accrued
discount

1/

Sales
price 2/

Accrued
discount

^

Exchanges of
E bonds for
H bonds

Amount
outstanding
(interestbearing debt)

Series E
Fiscal years:
1941-1954 i/.
1955 i/
1956
1957
1958
1959
1960
1961
1962

,924
,095
,219
,919
,889
,688
,603
,689
,674

8,061
1,123
1,114
1,133
1,161
1,174
1,194
1,254
1,331

80,985
5,218
5,333
5,052
5,049
4,862

Calendar years:
1941-1954
1955
1956
1957
1958
1959
1960
1961

74,843
4,192
4,142
3,875
3,802
3,598
3,632
3,711

8,626
1,113
1,124

April.

43,892
3,918
4,018
4,437
3,931
4,342
3,935
3,546

2,798
654
670
783
727
883
794
703

278
212

379
303
313

132
102
110

512
405
422

464
357
368

375

296
309

89
61
59

29
21
20

38,160
38,187
38,222

104
99
128

395
413
435

319
312
330

59

17

378
400

66

15

70

17

38,222
38,242
38,260

296

134

430

371

304

67

17

38,302

31
55
108
196
236

31

3U

May
June

46,690
4,572
4,639
5,220
4,658
5,225
4,729
4,249

307

. .

1,178
1,169
1,224
1,293

83,468
5,304
5,266
5,018
4,979
4,767
4,856
5,003

291

Months:
1962- January.
February,
March. . ,

42,027
3,857
3,961
4,248
3,893
4,092
4,295
3,673
3,613

2,500
633
661

5,005

44,527
4,490
4,622
4,981
4,951
4,889
5,181
4,394
4,343

.

July

1,U3

4,797
4,943

378

732
1,058
797
886
721
731

201
188
219

Series H

Fiscal years:
1952-1954 i/.
1955
1956
1957
1958
1959

1,055
1,130
1,041
694

V

782
818
704
775
747

1960
1961
1962

Calendar years:
1952-1954
1955
1956
1957
1958
1959
1960
1961

,

Months
1962- January.

1,509
1,177
901
631
887
722
718
828

1,055
1,130
1,041
694
782
818
704
775
747

1,509
1,177
901
631
887
722

217
322

233
260

54
79
1A3
248
198
294

718
828

267

96
59

20

235

55

108
196
236
217
322
233
260

54

79
143
248
198
294
267
235

96
59
61

61

19
29

20
19
29

June

58
39
56

58
39
56

23
25
24

23
25
24

July

62

62

26

26

February,
March, . .

April..

May

.

,

-

36,458
37,186
37,898
37,969
38,067
38,040
37,456
37,817
38,260

36,778
37,510
38,087
37,885
38,206
37,748
37,597
38,

WO

Treasury Bulletin
62
.UNITED STATES SAVINGS BONDS.

Table 4.- Redemptions of Matured and Unmatured Savings Bonds
(In millions pf dollars)

.
.
.
.

.

.
.

.
.

.

.

August 1962

63
.UNrrH) STATES SAVINGS BONDS.

Table 5.- Sales and Redemptions by Denominations, Series E and H

^'

Combined

(In thousands of pieces)

Total all
denominations

$10

2./

$25

$100

$50

$200 2/

$500

$1,000

$5,000

$10,000 i/

V

Sales 6/
Fiscal years:
ig^l-'j-V 2/--l'^?5

1,611,266
85,342
90,053
90,160
89,431
85,882
85,607
86,495
86,479

l'^5o

1957
1958
1959
1960
1961
1962p
lender years:
xi-s-;

i':o?.
l'-'58.

1953.

1%U.
1X1 1.

1961- July
August ....
September.

October.
November.
December.
.

.

1962-January.
February.
.

March
April
May
June p
Inception to date p.

21,076

1,652,755
87,316
90,786
90,856
86,676
84,945
86,659
85,757

7/

21,076

1,100,111
55,164
56,719
56,327
54,908
52,895
52J972
53,453
53,010

251,393
16,374
18,784
20,256
21,043
20,108
20,220
20,434
20,901

180,474
9,315
10,090
9,969
9,824

1,127,256
55,618
56,635
56,361
53,200
52,452
53,910
52,528

259,282
17,323
19,825
21,166
20,152
20,050
20,347
20,447

6,245
7,209
6,854

3,801
4,350
4,205

7,350
6,845
7,009

7,913
884
929
851
893
798
774
789
813

24,653
1,578
1,608
1,320
1,304
1,212
1,165
1,201
1,186

25,573
1,945
1,854
1,396
1,413
1,340
1,230
1,299
1,237

50

184,925
9,748
10,177
9,846
9,690
9,241
9,184
9,322

8,335
916
908

26,413
1,980
1,683
1,305
1,454
1,243
1,238
1,346

25
38
30

768
816

25,364
1,648
1,500
1,257
1,302
1,141
1,173
1,247

1,490
1,715
1,666

685
824
738

61
76
63

98

117
90

105
124
91

4,531
4,149
4,377

1,775
1,661
1,671

776
762
718

66

68
61

98
101
88

99
101
90

8,540
6,596
7,652

5,240
3,997
4,685

2,023
1,574
1,898

908
740
808

83
66
69

131
101
94

150
113

6,901
7,652
7,624
2.310,716

4,253
4,690
4,732

1,664
1,915
1,849

729
803
795

64
69
68

92
86
89

96

1,535,560

409,515

256,916

U,645

21,076

9,477
9,208
9,273
9,286

887
823
775

48
29

22
26
21
12

33
35

14
16

27
31

11
15

30

16

73
56

31
25
17
10
18
13

56

40

27

12

34

17

3

1

3

1

2

1

3

1

3
2

1

4
2
2

2
2
1

85
89

2
2
2

1
1

35,226

37,287

338

153

11,396
1,210
1,255
1,354
1,320
1,301
1,351
l,076r

10,662
1,177
1,281
1,485
1,464
1,451
1,567
l,139r
n.a.

1

1
2

11,987
1,225
1,267
1,408
1,250
1,368
l,201r

11,219
1,221
1,337
1,578
1,365
1,575
l,334r
1,098

95

1

1

Redemptions 6/
Fiscal years:
1941-54 7/.
1.^55 2/

1,139,311
89,749
89,953
93,175
93,452
88,647
90,748
85,077r
n.a

1957
1958
1959
196C
1961
1962

17,831
349
429
321
231

1,185,139
88,700
90,109
96,384
88,902
90,083
87,819r
82,762r

r-56

17,979
424
371
280
197
161
122r
87

177
144
lOlr
n.a

831,271
61,049
60,014
60,612
59,880
56,036
56,796
54,280r

166,365
15,650
16,503
18,165
19,467
18,598
19,507
18,654r

2,666
396
537
633
639

99,119
9,914
9,925
10,590
10,433
10,394
10,634
9,197r

n.a.

675
725
616r

n.a.

2
5

3

9
11
9
15
10

6
6
5

8

4
n.a.

Calendar years :
1941-54
1^56.
1957.
1958.
1959.
1960.
1961.

Months:
1961-July
August .
September.
.

6,466
7,126
6,788

October. .
November.
December.

6,491
6,311
6,603

6
6

1962-January. .
February.

7,809
6,777
7,111

8
6

.

March
April

May
June

Inception to May 1962

7,359
7,341
n.a

1,846,294

862,809
59,640
59,520
61,695
57,080
56,389
55,552r
52,626r

174,225
15,887
17,036
19,777
18,296
19,150
19,089r
18,346r

104,063
9,842
9,986
10,961
10,075
10,696
9,848r
8,937r

2,854
454
581
666
627
722

657r
609

1,045

4,100
4,560
4,286

1,436
1,572
1,554

703
756
724

47

84

52

87

49

84

4,109
4,039
4,278

1,469
1,412
1,452

692
658
666

47

82

44
44

75
76

1,736
1,462
1,585

941
739
787

65

7

4,802
4,321
4,477

7
6

4,592
4,643

1,676
1,650

n.a.

n.a.

1,288,145

309,912

178,500

5

n.a

19,654

67

119
88

57

95

830

60

797
n.a.

57
n.a.

95
92
n.a

7,478

21,242

4
7

12
9
14
12

89
90
83

1
1

83
76

1
1

81

1

136
93
101

1

1

1
1

98

1

95

1

n.a

.

21,251

_L
These figures are estimates by the Office of Debt Analysis in the
Office of the Secretary and are based on the daily Treasury statement
and reports from Federal Reserve Banks and the Bureau of the Public

Note;

1/
2/

2/

Debt.
Sales of Series H bonds began on June 1, 1952; the denominations
authorized were $500, $1,000, $5,000, and $10,000.
Sales were authorized in June 1944, to Armed Forces only, and dlscontinued after March 31, 1950.
Sales began In October 1945.

V
2/

6/
2/
»

1
2
4
7
4
8
6
4

2

a

.

73

n.a.

40

Sales of $10,000 denomination Series E bonds were authorized on

May

1,

1952.

Includes sales and redemptions of $100,000 denomination Series E
bonds which are purchasable only by trustees of employees' savings
plans beginning April 1954, and also personal trust accounts beginning
January 1955.
See Table 4, footnote 1.
See Table 4, footnote 4.
Less than 500 pieces.
n.a.
Not available.
p
Preliminary.
Revised.

Treasury Bulletin

61^

.UNiTKD STATES SAVINGS BONDS.

Table 6.- Sales by States, Series E and H

^

Combined

(In thousands of dollars at issue price)

State

1962

1961

Inception
through
June 1962
2/

July

Sept.

Aug.

Nov.

Oct.

Jan.

Dec.

April

Feb.

1,287

2,603
442
1,521

3,362
233
1,388

1,672
20,425
2,729

1,454
24,461
2,663

1,462
21,692
2,663

1,499
22,615
2,665

6,233
2,041
3,594

6,038
627
3,457

6,178
2,451
2,412

7,004
613
3,308

6,601
2,206
2,799

5,687
3,353
813

8,863
4,133
929

6,900
3,234
782

5,781
3,606
784

6,072
3,118
810

6,400
3,214
772

558
28,275
9,726

930
35,817

26,614

U,736

516
27,745
11,255

531

28,793
10,111

U5

602
25,126
10,247

24,229
10,040

9,206
5,532
4,243

10,234
6,828
4,248

10,955
5,792
4,129

14,700
7,996
6,014

9,422
6,695
4,587

9,760
5,581
4,383

8,728
4,836
3,942

8,047
4,894
4,044

2,553
1,159
4,262

2,679
1,281
5,479

2,699

1,U2
4,742

2,696
1,131
5,759

3,693
1,488
6,101

3,284
1,177
4,937

2,867
988
4,719

2,969
1,167
5,521

2,652
1,132
5,502

9,115
21,667
5,993

8,204
17,640
5,167

8,233
21,081
5,678

8,833
19,801
5,994

8,672
22,057
5,561

9,923
23,035
6,070

8,815
17,411
5,455

8,527
20,347
4,633

9,034
19,298
4,748

10,280
18,188
4,612

1,451
11,348
1,338

1,380

1,287
10,796
1,635

1,381
9,934
1,682

1,371
10,889
1,402

1,6H

10,U2

554,1U

1,558
11,980
1,364

13,031
1,703

1,580
10,800
1,572

1,263
10,536
1,219

1,060
10,309
1,252

1,188
10,083
1,223

1,766,521
131,806
258,610

6,514
432
903

6,108
469

6,081

6,785
482
741

7,459
428
756

11,842

6,622
452

910

7,186
615
678

703

5,668
455
730

5,471
465
725

4,133,4^0
269,386
12,343,013

U,029

15,093
1,071
43,007

13,236

U,492

U,993

H,227

1,009
38,595

1,U7
32,378

1,007
40,127

1,029
41,259

1,015
35,857

17,772
1,302
46,903

13,968
1,037
39,125

14,310
970
37,019

13,945
1,023
42,253

880
41,081

1,243,U0

3,256
298
1,461

3,022
281
1,601

3,397
380
1,558

3,078
365
1,328

3,639
385
2,195

3,344
389
1,643

3,001
293

1,684

3,358
460
1,643

650,138
7,629,521
845,184

1,604
22,410
2,567

1,679
24,380
2,996

1,639
19,819
2,476

1,598
23,185
3,139

1,602
21,647
2,519

1,662
19,077
2,697

2,082
30,580
3,367

Connecticut
Delaware
District of Columbia

,724,180
287,582
1,173,400

5,238
1,245
3,442

5,230
1,285

2,7U

4,895
1,568
2,710

5,073
1,472
3,795

5,320
1,444
2,722

4,979
1,704
3,449

Florida
Georgia
Hawaii

1,418,644
1,209,468
424,851

6,072
3,327
856

6,789
3,273
877

5,389
3,103
850

5,915
3,383
813

5,395
3,299
800

Idaho
Illinois
Indiana

276,550
9,018,202

648
29,243
10,242

519
25,880
8,973

629
27,315
10,045

591

3,120,OU

675
29,319
9,763

Iowa
Kanaas
Kentucky

3,086,298
1,821,183
1,227,209

10,221
6,128
4,789

9,901
6,972
4,602

8,851
5,764
4,134

Louisiana
Maine
Maryland

1,067,016
421,898
1,377,271

2,950
1,310
5,290

2,907
1,291
4,833

Massachusetts
Michigan
Minnesota

3,112,571
6,111,157
2,120,959

8,920
18,634
5,760

Mississippi
Missouri
Montana

634,155
3,108,786

Nebraska
Nevada
New Hampshire

Alabama
Alaska
Arizona

1,085,384
404,006

Arkansas
California
Colorado

New Jersey
New Mexico
New York

May

i7,/l88

3,399

2/

1

318

833

1,404
5,658
437
815

578
768

520

11,

531

H,172

North Carolina
North Dakota
Ohio

556,312
6,924,577

3,454
1,674
22,573

4,005
1,542
24,567

3,531
1,543
20,699

3,645
1,739
22,617

3,773
1,789
21,745

3,694
1,609
21,657

4,565
1,839
27,963

4,236
1,506
23,439

3,363
1,147
22,067

3,258
1,059
21,543

3,345
1,062
21,660

Oklahoma
Oregon
Pennsylvania

1,370,667
1,069,983
9,090,392

4,436
2,887
32,286

4,2U
2,658
33,528

4,771
2,234
30,345

4,362
2,496
32,730

4,724
2,317
32,605

5,476
2,219
33,296

5,969
3,401
42,224

5,200
2,597
34,866

3,943
2,257
33,596

4,334
2,276
34,991

3,726
2,478
37,636

489,502
633,588
674,152

1,111
1,471
1,952

746
2,120
2,040

959
1,707
2,098

1,1U

1,069
1,838
2,579

1,153
1,736
2,111

1,454

1,970
2,156

2,563

1,189
1,926
2,062

1,043
1,854
1,631

1,269
1,796
1,650

1,202
1,738
1,512

1,150,108
3,942,238
430,234

3,000
11,871
1,436

3,127
11,847

1,U9

2,681
10,895
1,418

3,099
11,061
1,536

2,843
10,549
1,296

2,708
10,362
1,408

4,269
13,919
1,624

2,966
12,429
1,347

2,694
11,436
1,380

2,667
10,594
1,246

2,718
10,062
1,411

Ul,723

468
6,340
4,644

419
6,499
4,400

350
6,345
4,566

379
5,942
4,483

360
5,665
4,131

422
7,012
5,656

363
5,758
5,549

386
6,083
4,035

346
6,966

5,U6

385
5,004
4,304

3,861
7,708
578

4,099
8,179

4,872
9,912
777

4,344
6,972
734

3,590
6,553
547

4,019
6,418
676

3,762
6,100
443

212
137

205
122
11

2H
113
19

254
198
17

217
137

8

208
178
7

Rhode Island
South Carolina
South Dakota

Tennessee
Texas
Utah

2,1U

Vermont
Virginia
Washington

1,819,676
1,822,623

412
6,061
4,367

West Virginia
Wisconsin
Wyoming

1,120,169
2,511,102
216,153

3,847
8,191
495

4,153

3,745
7,387
502

3,999
7,847

661

66,016
60,579
3,035

179
126

197
220

176
98

133
128

3

7

4

5

322
92
14

-1,384

+33,567

+25,269

+25,861

+15,013

+5,017

+40,840

+15,471

+38,026

+U,075

+20,799

342,253

393,090

338,847

369,732

357,904

342,713

475,929

362,392

373,537

349,019

352,905

Canal Zone
Puerto Rico
Virgin Islands

Adjustment to daily
Treasury statement.

ToUl

f3, 248, 831 4/

111,444,805

8,1U

524

Source:
Daily Treasury statement and reports from Federal Reserve Banks.
Sales of Series H began June 1, 1952.
Figures include exchanges of minor amounts of Series F and J bonds
for Series H bonds beginning January 1%0; however, they exclude
exchanges of Series E bonds for Series H bonds.
2/ Excludes data for period April 1947 through December 1956, when

1/
2/

4/

569

11

reports were not available. In previous issues of the Bulletin,
data for period Hay 1941 through March 1947 were included in
"Other possessions," and data for calendar years 1957 and 1958
were Included In "adjustment to daily Treasury statement."
Includes a small amount for other possessions.

.
,
,
.

August 1962

65

OWNERSHIP OF FEDERAL SECURITIES.

Table 1.- Distribution of Federal Securities by Classes of Investors and Types of Issues
(In millions of dollars)

Interest-bearlxig securities Issued
by the U. S. Government

Total
Federal
securities outstanding

End of
fiscal
year or

month

Total
outstanding

Held by U, S. Government
investment accounts 2/

Public
issues

1/

Special
issues

Interest-bearing securities guaranteed by the U.S. Government

^

Held by private
investors 2/

Held by
Federal
Reserve
Banks public
issues

Held by
U.

Total

Public
nonmarketable
issues

194,533
197,598
192,655
189,949
193,418

121,771
127,875
126,304
127,179
134,593

72,762
69,723
66,351
62,770
58,825

106
101

144,983

2,351
2,634
2,869
2,042
1,646

139
240
444

63
79
87
167

47
60
153
277

2,873
3,090

50,936

155

81

74

3,397

155,379
155,063
155,741

51,069
51,516
51,419

237
248
270

87
88
94

151
161

3,407
3,057
2,978

209,545
209,094
209,402

158,378
157,763
158,600

51,166
51,331
50,803

298

112

314
330

IM

187
200

119

2U

2,952
3,407
3,480

28,532
28,360
29,061

210,949
211,168
209,109

160,154
160,348
158,324

50,794
50,820
50,785

344
369

129
134

400

145

215
235
256

3,405
3,436
3,605

29,182
29,622
29,663

210,583
210,147
208,483

159,848
159,478
157,418

50,734
50,668
51,065

404
429
444

151
160
167

253
269
277

3,592
3,656
3,759

7,111
7,286
8,356
8,674
9,596

42,229
43,250

46,827
46,246

25,037
23,607
23,758
23,035
25,438

1959
1960
1961
1962

284,817
286,471
289,211
298,645

281,833
283,241
285,672
294,442

54,554
55,259
56,002
56,296

9,799
10,360
10,959
11,357

44,756
44,899
45,043
44,939

26,044
26,523
27,253
29,663

201,235
201,459
202,417
208,483

151,392
157,418

56,252
51,913
51,025
51,065

1960-December.

290,373

286,820

54,985

10,639

44,346

27,384

204,451

153,515

292,643
293,964
294,020

288,998
290,659
290,773

55,128
56,383
55,81A

10,931
10,810
10,807

44,198
45,573
45,007

27,422
27,697
27,799

206,448
206,579
207,160

October. .
November.
December.

295,959
297,325
296,499

292,709
293,604
292,689

54,897
55,299
54,406

11,006
11,082
10,886

43,890
44,217
43,520

28,268
29,210
28,881

1962- January. .
Febr\iary.

296,860
297,354
296,489

293,111
293,549
292,485

53,630
54,021
54,314

11,325
11,270
11,505

42,304
42,751
42,809

297,357
299,604
298,645

293,361
295,519
294,442

53,596
55,750
56,296

11,474
11,458
11,357

42,122
44,291
44,939

1961- July
August . . .
September,
,

March
April

May
June

Daily Treas\iry statement for total amounts outstanding; reports
from agencies and trust funds for securities held by U. S. Government
investment accounts; and reports from Federal Reserve System for
securities held by Federal Reserve BanJis.
Includes certain obligations not subject to statutory limitation. For
amounts subject to limitation, see page 1.
Includes accounts under the control of certain U. S. Government agencies

Source:

1/

2/

j/

^

U9,546

80
43

3

73

110

177

3,300'

3,759

whose investments are handled outside the Treasury.
The total amoxmt of interest-bearing securities held by private investors is calculated by deducting from the total amount outstanding
the amount held by U. S, Government investment accounts and Federal
Reserve Banks.
Consists of guaranteed securities held outside the Treasury. All are
public marketable issues.
»
Less than $500,000.

Table 2.- Net Market Purchases or Sales of Federal Securities for
Investment Accounts Handled by the Treasury 1/
(In millions of dollars; negative figures are net sales)

Year

debt
and
debt
bearing
no
interest

80
41
48
56
46

49,340
50,536
53,470
55,501
55,842

,

Held by
private
investors

25
50
54

268,910
271,741
269,883
268,486
274,698

45, lU

Total
Government
outinvestment
standing
accounts
2/

Public
marketable
issues

271,341
274,418
272,825
270,634
276,444

1954
1955
1956
1957
1958

S.

Matured

Treasury Bulletin

66

OWNERSHIP OF FEDERAL SECURITIES,

Table 3.- Estimated Ownership of Federal Securities
(Far vEluea 1/ In billions of dollars)

Held bj private nonbank investors

Held by banks

Total
Federal
securities
outstand-

End of
month

U. S.
Cossner-

clal
banks

Federal Government
Reserve investment
accounts
Banks

Individuals 4/
Savings bonds

Total
Total

2/

Other
Series
E and H series

^

Other
securities

Mutual
Insurance savcoDpanies ings
banks

State
and
Corporalocal
tions 6/

govern-

ments

Foreign
Other misand inter- cellaneous
national
investors

8/

2/

1.9

8.2

6.3

3.1

2.2

2.6
2.8

7.5
7.8

6.5
6.9

3.1
3.2

2.1
2.0

.4
.5

.2

.2

3.4

4.2

7.1
8.2

3.4
3.7

2.0
4.0

.6
.7

.2

1.1

7.6
8.2

17.8
23.7

3.7
6.9

5.4
6.5

8.7

3.9
4.5

4.9

.9

10.3

9.2
11.3

10.1

L.O

30.9
37.6

11.3
16.0

7.9
8.7

11.7
12.9

13.1
15.1

5.3

16.9

67.0
81.7

19.1
21.7

100.2
114.0

46.1
53.3

21.1
25.5

10.1
10.7

U.9

18.8

17.1

84.2
90.8

21.8
24.3

24.9
27.0

128.2
136.6

59.1
64.1

29.1
30.7

U.6
12.2

93.8
84.4
74.5

22.9
23.8
23.3

28.0
29.1
30.9

135.1
132.6
130.7

64.1
63.3
64.2

30.8
30.4
30.3

12.5
13.1

Dec...

279.8
269.9
259.5

1947-June...
Dec

258.4
257.0

70.0
68.7

21.9
22.6

32.8
34.4

133.7
131.3

66.6
65.7

30.8
31.0

14

1948- June...
Dec

252.4
252.9

64.6
62.5

21.4
23.3

35.8
37.3

130.7
129.7

65.8
65.5

1949- June .
Dec ....

252.8
257.2

63.0
66.8

19.3
18.9

38.3
39.4

132.2
132.1

1950- June...

257.4
256.7

65.6
61.8

18.3
20.8

37.8
39.2

1951-June...
Dec ....

255.3
259.5

58.4
61.6

23.0
23.8

1952-June...

259.2
267.4

61.1
63.4

1953- June...
Dec

266.
275,

58.8

1954- June...
Dec
1955-June...

47.6

15.9

2.5

6.5

22.7

48.5
50.9

16.1
17.3

2.5
2.2

7.1
7.6

22.8
23.9

10.1
10.6

55.3
64.3

19.7
21.4

2.2
2.3

8.5
9.5

25.0
31.0

11.2
13.6

1942- June...
Dec

77.0
112.5

26.0
41.1

2.6
6.2

10.6
12.2

37.7
53.0

1943-June

140.8
170.1

52.2
59.9

7.2
11.5

U.3

202.6
232.1

68.4
77.7

U.9

259.1
278.7

1939-Dec
1940-June
Dec
1941-June

.

.

. .

Dec

.2

.4

6.1

12.9
16.4

1.3
1.5

17.3
19.6

7.3
8.3

20.2
21.4

1.4
1.7

18.5
21.2

22.7
24.0

9.6
10.7

23.3
22.2

5.3
6.5

2.0
2.4

20.8
19.9
20.1

24.

11.1
11.5
11.8

19.9
17.8
15.3

6.7
6.5
6.3

2.4
2.2
2.1

21.1
19.4

24,
23,

12.1
12.0

13.7

15

7.1
7.3

3.4
2.7

31.6
32.2

15
15

18.6
17.6

22.8
21.2

12.0
11.5

13.6

U.8

7.8
7.9

2.6
2.8

66.6
66.3

33.1
33.8

15.7
15.5

17.8
17.0

20
20

11.6
11.4

15.8
16.8

8.0
8.1

2.9
2.9

135.6
134.9

67.
.4
66.
.3

34.5
34.5

15.4
15.1

17.6
16.7

19.8
18.7

11.6
10.9

18.4
19.7

8.7
8.8

4.3

41
42

132.9
131.8

65.4
64.6

34.5
34.7

14.6
14.4

16.3
15.5

17.1
16.5

10.2
9.8

20.1
20.7

9.4
9.6

4.2
4.3

22.9
24.7

44

130.8
133.4

64.8
65.2

34.9
35.3

U.l

15.7
16.0

15.7
16.0

9.6
9.5

18.8
19.9

10.4
11.1

4.7

13.8

47,

63.7

24.7
25.9

48.

135.0
137.3

66.1
64.8

36.0
36.7

13.2
12.7

16.8
15.4

16.0
15.9

9.5
9.2

18.6
21.5

12.0
12.7

5.7
5.9

271.3
278.8

63.6
69.2

25.0
24.9

49
49

133.3
135.1

64.7
63.4

37.5
38.2

12.1
11.7

15.1
13.5

15.4
15.3

9.1
8.8

16.6
19.2

6.0
6.3

274.4
280.8

63.5
62.0

23.6
24.8

50
51

136.7
142.3

65.0
64.7

39.3
40.1

10.9
10.2

U.8
U.5

15.0

8.7
8.5

18.8
23.5

6.8

U.6

272.8
276.7

57.3
59.5

23.8
24.9

53.5
54.0

138.3
138.2

66.2
65.5

40.9

a.

9.4
8.7

15.9
15.4

13.6
13.2

8.4
8.0

17.7
19.1

16.3

7.9
7.8

270.6
275.0

56.2
59.5

23.0
24.2

55.6
55.2

135.9
136.1

65.6
64.0

41.5
41.6

7.6
6.6

16.5
15.8

12.7
12.5

7.9
7.6

16.8
13.6

16.8
16.6

7.6
7.6

276.4
283.0

65.3
67.5

25.4
26.3

55.9
54.4

129.9
134.8

63.7
63.0

42.1
42.5

5.9
5.2

15.7
15.3

12.2
12.7

7.4
7.3

U.8

1959-June...
Dec .

284.8
290.9

61.5
60.3

26.0
26.6

54.6
53.7

U2.6

65.3
68.0

42.6
42.4

4.5
3.5

18.3
22.1

12.6
12.5

7.3
6.9

20.8
22.8

16.9
18.0

10.1
12.0

1960- June...
Dec

286.5
290.4

55.3
62.1

26.5
27.4

55.3
55.1

149.3

68.2
65.4

42.5
42.9

3.1
2.7

22.5
19.8

12.0
11.9

6.6
6.3

21.0
19.9

18.8
18.2

12.3
13.0

1%1-Jan. .

290.2
290.7
287.7
288.2
290.4
289.2
292.6
294.0
294.0

62.7
61.9
59.7

26.6
26.7
26.7
26.8
26.9
27.3
27.4
27.7
27.8
28.3
29.2
28.9

54.6
54.5
54.9
54.0
55.5
56.1
55.2
56.5
55.9
55.0
55.4
54.5

146.4

65.5
65.6
65.7
64.7
64.4
64.0
64.5
64.9
65.1
65.2
65.5
65.6

43.1
43.2
43.3
43.4
43.5
43.6
43.7
43.8
43.9

2.7
2.7
2.6
2.6
2.5
2.5
2.4

19.7
19.7
19.8
18.8
18.4
18.0
18.4
18.7
18.8
18.9
19.0
19.2

11.9
11.8
11.7
11.6
11.6
11.4
11.5
11.5
11.5
11.6
11.5
11.4

6.3
6.4
6.6
6.3
6.3
6.3
6.3

6,

20.3
21.4
19.7
20.8
21.4
19.7
19.8
20.0
18.6
19.5
20.3
19.4

18.3
18.5
18.7
18.5
18.5
18.7
18.7
18.6
18.5
18.4
18.2
18.3

13.0
13.0
13.1
12.7
12.6
12.7
12.7
12.6
12.8
12.9
13.1
13.4

28.5
28.4
29.1
29.2
29.6

53.8
54.2
54.5
53.7
55.9
56.5

U6.8
U8.3
U9.0
U9.1

65.8
65.8
66.0
65.8
65.5
65.7

U.4
U.4
U.5
U.5

19.2
19.2
19.4
19.2
18.9
19.0

11.6
11.5
11.5
11.5
11.5
11.3

6.2
6.3
6.6
6.3
6.3
6.3

20.4
21.4
20.2
20.4
20.8
19.2

18.6
18.8
19.1
19.2
19.3
19.4

12.9
13.0
13.6
13.3
13.5

.

.

Dec

194i-June

.

.

Dec

1945- June...
Dec

1946-Feb. 2/
June . .

.

Dec

Dec

Dec

1956-June...
Dec ...

1

1957-June...
Dec

1958-June...
Dec

. .

.

Feb
Mar
Apr . .
May....
June
July...
Aug
Sept .
Oct
Not
.

.

.

.

Dec

1962-Jan
Feb
Mar
Apr....
Itey

June

p.

61, 7

1

297.3
296.5

62.
62.
65.
65.
66.
67.
66.
67.

296.9
297.4
296.5
297.4
299.6
298.6

67.8
66.6
64.0
65.3
65.2
65.0

2%.0

±

5
5

1
6
3

9
2

29.7

45

150.3

U5.8
U7.7
146.4

U5.7
U5.S
U3.3
U4.5
U4.7
U3.7
U5.4
U5.8
U5.9

148.8
147.6

13

U.O
U.l
U.2

44.6
44.6

Source:
Office of Debt Analysis in the Office of the Secretary.
X/ Dnlted States savings bonds, Series A-F and J, are Included at
current redemption value.
2/ Securities issued or guaranteed by the D. S. Government, excluding
guaranteed securities held by the Treasury.
2/ Consists of commercial banks, trust companies, and stock savings banks
in the Dnited States and in Territories and island possessions.
Figures exclude securities held in trust dep«rt«ent».

4/
5/
6/
7/
8/
2/

24,
24,

6,
6,
6,
6,

U.l

3.5

5.3

7.5

6.5
7.7

18.8

U.l

Includes partnerships euid personal trust accoxints.
Discontinued series. See savings bonds tables.
Exclusive of banks and insurance companies.
Consists of the investments of foreign balances and international
accounts in the Dnited States.
Consists of savings and loan associations, nonprofit institutions,
corporate pension trust funds, and dealers and brokers.
Immediate postwar debt peak.
p
Preliminary.

August 1962

67
.TREASUra SURVEY OF OWNERSHIP, JUNE 30, 1962

The monthly Treasury Survey of Ownership covers secu-

corporations and savings and loan associations in the Sep-

rities Issued by the United States Government and by Fed-

tember i960 Bulletin, and for State and local governments
In the February 1962 Bulletin.

eral agencies.

The banks and Insurance companies Included

In the Survey currently account for about 90 percent of all
such securities held by these Institutions. The similar

proportion for corporations and for savings and loan associations Is 50 percent, and for State and local govemmente,
60 percent.

Data were first published for banks and In-

Holdings by commercial banks distributed according to
Federal Reserve member bank classes and nonmember banks are

published for June 30 and December 31. Holdings by corporate pension trust funds are published quarterly, first

appearing In the March 1954 Bulletin.

surance companies In the May \^hl Treasury Bulletin, for

Section

I

-

Securities Issued or Guaranteed by the United States Government
Table 1.- Summary of All Securities
(Par values - in millions of dollars)

Treasury Bulletin

6S
.TREASDEI SUHVKY OF OWNERSHIP, JUNE 30, 1962

Section I - Securities Issued or Guaranteed by the United States Government
Table 3.- Interest-Bearing Public Marketable Securities by Issues
(Par values - in

aiUlons of dollars)

Held by Investors covered In Treasury Survey
Insurance ccB^tsnles
Total
Issue

6,200
509
aaiouii't
outstand- CGDmerclal
saTlngs
ing
ha nk p
banks

2/2/
Treasury bills:
Regular weekly:
July
1962 - Sept. 1962
Oct.
1962 - Dec. 1962

302
life

2/

U9

144

50

27

24,017
8,208

4,570
916

1,802

151

1962.
1962.
1963.
1963.

2,004
2,003
2,001
2.001

234
299
433
487

18
47
31
10

10
13
12

Total Treasury bills.

42,036

7,090

307

6,862
6,685

1,482
1,793

51
64

Total certificates of indebtedness 13,547

3,275

115

158
7,325
1,143
6,082
2,839
3,642
1,743
5,047
3,011
3,893
4,933
2,316
5,019
4,195
2,113
3,113
4,454
590
533
506
457
490
466
315
675
357
48

71
1,728
546
1,068
1,584
1,962
676
2,487
1,024
2,064
599
303
2,076
759
696
2,247
1,734

65,464

23,592

1,468

2,270
1,485
1,463
4,317
1,817
2,700
2,635
2,552
4,682
2,426
1,416
3,597
1,484
2,438
1,335
1,952
3,604
2,834
2,460
1,258
2,538
2,806
1,204
1,171
470
1,594

688
1,339
661

14

Tax anticipation:
Sept
1962
.

512 fire,
casxialty,

and
marine

488
savings
and loan
associations

State and
local govemments U. S. Government invest473
ment accounts
186
coipo- 298
aTirt Federal
pension
rations general and
Reserve Banks
funds
retlrenent
funds

Oct.
Jan.
Apr.

Certificates of indebtedness:
1963-A
3-1/2% Feb.
1963-B
May
3-1/4

all

other
Investors i/

102
22

44

2,457
1,288

2,U6

221
52

2,135
822

12,002

399

902

121
35

59

19

95

524

Other:

July

Held by

U

5

7
7
13
6

11
10
23
15

78
126
108
254

274
167
134
79

256

194

183

5,213

3,229

70
84

36
15

453
695

178
214

20

13

153

51

1,148

391

4
96

2
4

2
34

50

1

70

49
25
39
66

5

56

4
61
21
13

2

63
71
32
69

27
11

197
30
248
247
353
42

173
93
174
32
77
34
208
49
94
40
18
73

4,596

155
225
283

1,326
1,177
1,019
862

298

3,760

21,506

1

3,487
2,413

1,096
1,383

5,901

2,479

Treasury notes:
3-1/4
3-3/4
3-1/4
2-5/8
3-1/4

Aug.
Aug.
Nov.
Nov.
Feb.
Feb.

4

May

"4Jf

3-1/4
4-7/8
3-3/4
4-3/4
5

3-3/4
4-7/8
4-5/8
3-5/8
4

1-1/2

1-V2
1-1/2
1-1/2
1-1/2
1-1/2
1-1/2
1-1/2
1-1/2
1-1/2

my
Nov.

May
May
Aug.
Aug.
Nov.

1%2-B..
1962-G..
1962 -C..
1962 -H..
1963-A.

1%3-E..
1%3-B..
1963-D.
1963-C..
1964-D.
1964-A.
1964-B..
1964-E..
1964-C..

May

1%5-A.

Feb.
Aug.
Oct.
Apr.
Oct.
Apr.
Oct.
Apr.
Oct.
Apr.
Oct.

1966-B..
1966-A..
1962 -EO.

1%3-EA.
1%3-EO.
1964-EA.
1964-EO.
1965-EA.
1965-EO.
1966-EA.
1966-EO.
1967-EA.

Total Treasury notes.

5

7

147
78
100
94
85

4

85

28

7
16
13
10

160

56

56
54
62
55

19
14

U5

5

132
88
169

19
5

8

U3
193
282
234
264
237
183
270
139
24

31
61

57

3

3

10

6
63

5

7
207
16

U
5

3

73
63
64
8
34
19
40
29
24
12
32
18

41
21
48
37
67

418

54
25
28
31
55
31

17
14
65
66
302
152
84

66

71
96
56
34
55

2

71

3,778

1,253
274
1,044
616
925
745
1,076

1

56

2

3,422
241
198
90
1,028
285
292
2,862
206
1,748
2,318
379
45
1,545

4
1

26
1

24
17
54
21
8

1

35
35
28
2
2
4

76
20

2

1

3

69
18
1

1

28

1,3a
1,097
1,156
1,537
884
739
700
528
773
136
151
116
104
83
70
72
101
73
2

1,286

567

2,447

1,244

279

18,495

15,669

103
25
92
203
159
48
143
122
215
123
83
94
35
91
36
106
138
97
87
20
77
84
36
48

16

344

45

3

*

36
«

409

1

29
16

19
227
29

8

177
338
227
119
474
524
318
759
384
203
143
171
128
56
728
206
377
100
303

604
116
400
1,031
472
801
673
659
1,055
659
426
1,000
346
671
732
560
1,007
1,820
933
258
1,092
685
319
363
129
550

Treasi
asury bonds:

2-3/4
2-1/2
2-1/2
2-1/2
3

2-1/2
2-1/2
2-5/8
2-1/2
2-1/2
3-3/4
3

3-3/8
2-1/2
2-1/2
3-5/8
2-1/2
3-7/8
3-3/4
4

4
3-7/8
3-7/8
4-1/4
3-1/4

Dec.
Dec.
June
Aug.
Dec.
Feb.
June
Dec.
Feb.
Mar.
Mar.

May
Aug.
Nov.
June
Sept.
Nov.
Dec.
Ifay

Aug.
Oct.
Aug.
Nov.
Nov.

May
June

1959-62
1960-65 JJ/.
1962-67
1963

l%3-68
1964
1964-69
1964-69

1%5
1965-70
1966-71
1966
1966
1966
1967-72
1967-72
1967
1967-72
1968
1968
1969
1971
1971
1774
1975-85
1978-83

Footnotes at end of Table 4.

2,3a
611
1,551
677
594
2,663
365
138
1,988
832
1,307
136
1,005
1,296
162
726
756
721
1,315
535
74
13
34

w
54
37
167
27
394
281
37
181
122
136
34
50
98
102
123
84
113
43
173
120
67
96
17
50

«
7
8
44
2

105
121
31

155
122
17
2

17
46
8

125
17
3

28
13
8
40
9
99

57
45

72
75
75

a
36
82
60
59
59
71
134
78
85
51

7

60
106
104
46
10

35

38

48
15
28
196
8
1
43
3
19
3
1

15
102
31
56
45

90
72
61

67
31
21
31
54
30

20

79

11

158
65
6
19
37
15
49
33
205

1

u
«
5

u
5

15
20
4
36
57
20
74
37
4
9
23
43
13
36

92
58
7

64
25
39
90
138
407

»

a5
68
359
114
176

August 1962

69

.TBEASUBY SUW/EY OF OWNERSHIP, JUNE 30, 1962

Section I - Securities Issued or Guaranteed by the United States Government
Table 3.- Interest-Bearing Public Marketable Securities by Issues - (Continued)

Treasury Bulletin

70
.TEEASDKY SUHVEY OF CWNERSHIP, JUNE 30, 1962

Section

II

-

Interest-Bearing Securities Issued by Federal Agencies But
Not Guaranteed by the United States Government

August 1962
71

.TREASURY SURVEY - COMMERCIAL BANK OWNERSHIP, JUNE 30, 1962
The tablee which follow provide an analysis of the

This analysis of commercial bank ownership was first

security holdings of commercial banks reporting in the
Treasury survey of ownership of securities Issued by the
United States Government and by Federal agencies. The

published In the May I9W1 Issue of the "Treasury Bulletin,

figures show the total holdings distributed according to
Federal Reserve member bank classes and nonmember banks.

time,

Section

I

-

*

based on the survey data for December 31, 13^"}.
It has
appeared at semiannual or quarterly Intervals since that
and Is now being published for the June 30 and De-

cember 31 survey data.

Interest-Bearing Securities Issued or Guaranteed by the United States Government
Table 1.- Summary of All Securities
(Par values - in millions of dollars)

Treasury Bulletin

72
TREASURY SURVEY - COMMERCIAL BANK OWNERSHIP, JUNE 30, 1962

Section

-

I

Interest-Bear ln(? Securities Issued or Guaranteed by the United States Government
Table 3.- Public Marketable Securities by Issues
(Par values - In millions of dollars)

Federal Reserve member banks

1%2

- Dec.

9
Chicago

202
reserve
city

4,570
916

3,911
771

1,569
329

1,456
317

113
12

1,013
100

1,329
342

133

49

a

42

42

197
254
351
439

6,055

1,482
1,793

Tax anticipation:
Sept. 1962

New York
City

7,090

1962...

Total New
York City
and Chicago

234
299
433
487

Treasury bills:
Regular weekly:
July
1962 - Sept. 1962...

member
banks

151

Issue

Oct.

22 Central reserve city

Held by
6,200
conmercial
banks 1/

3,275

3,%1

13

Other:

July
Oct.
Jan.
Apr.

1962
1962

1%3
1963

Total Treasury bills

Certificates of indebtedness:
1%3-A
3-1/2$ Feb.
Hay
3-1/4
1963-B

Total certificates of indebtedness.

3,737
coxintry

41
19

9

50

28

55

23

33

105

105

80
134
186

97
127
162
148

2,205

2,005

1,604

2,246

1,288
1,581

254
395

213
283

41
112

583

671

451
515

2,868

649

4%

154

1,253

966

59

2

342
24
159
126
503
61
475
92
210
12
29
452
80
85
679
248
9

1
290
19
111
113
389
42
343

1
51
6

6

1,541
458
935
1,409
1,786

51
519
201
347
599
584
305
814
371
951
310
138

50

47

Treasury notes:

~Z?

AugT

3-1/4
3-3/4
3-1/4
2-5/8
3-1/4

Aug.
Nov.
Nov.
Feb.
Feb.

4

May
May
Nov
May
May
Aug.
Aug.

3-1/4
4-7/8
3-3/4
4-3/4
5

3-3/4
4-7/8
4-5/8
3-5/8

4
1-1/2
1-1/2
1-1/2
1-1/2
1-1/2
1-1/2
1-1/2
1-1/2
1-1/2
1-1/2

.

1962-B
1962-G

71
1,728

1%2-C

546

1962-H
1963-A
1963-E
1963-B
1963-D
1963-C
1964-D

1,068
1,584
1,962
676
2,487
1,024
2,064

1%4-A

Nov.

1964-B
1964-E
1964-C

May

1%5-A

Feb.
Aug.
Oct.
Apr.
Oct.
Apr.
Oct.
Apr.
Oct.
Apr.
Oct.
Apr.

1966-B
1966-A
1962-EO
1963-EA
1963-EO

,

,

599
303

2,076
759
696
2,247
1,734

U3

1964-EO
1965-EA
1965-EO
1966-EA
1966-EC

193
282
234
264
237
183
270
139

1%7-EA

_2^

1%4-EA

Total Treasury notes

Treasury bonds:
2-1/4* Dec.
2-3/4
Dec.
2-1/2
June
2-1/2
Aug.
2-1/2
Dec.

,

1959-62
1960-65 8/

l%2-67
1963
1963-68

44
41

25
11

87
95
113
123

tt

5

1

»

1

15

5

6
218
12
110
29
22

2U

26

240
476
300
1,017
250
539
259
263
1,050
131
47
635
290
393

28

291
292

49
69

48

1

43

1

1

25

U7

U7

124
29
105
133
82
252
187

96
28
89
121
78
252
137

1
1

1

20

1

3

1

1

5

l%7-72

Sept.
Nov.
Dec.

1967-72

1%7

1,2%

l%7-72

May

1%8

Aug.
Oct.
Aug.
Nov.
Nov.

1968
1969
1971
1971
1974
1975-85
1978-83

162
726
756
721
1,315
535
74
13
34

1,1U
486
58
11
28

3

21
115

48
12

(Continued on following page)

52

8,563

165
292
16
82
43
63
38
9
317

June

79
105
75

8,267

171
510
28
192
72
85
41
30
432
48
12
224

U3

75

lU

847

625
1,275
582
2,069
538
1,292
582
528
2,351
313
116
1,716
715
1,094
97
870
1,068
120
605
676
618

1,988
832
1,307
136
1,005

320
629
677
67

58
1

688
1,339
661
2,341
611
1,551
677
594
2,663
365
138

694
278

121
70
17

2,%8

Aug.
Nov.

Footnotes at end of Table 4.

46

U

532
50
98
84
81

3,815

3

Hay
June

2
36
38

2

322

167
740

20,645

1965-70
1966-71
1966
1966
1966

3-7/8
4-1/4
3-1/4

61
49

83

669

43
47
46
125
48

23,592

1964-69

4
3-7/8

554
200
9

573

U7

2

1%4

4

32
39

32
63
7

5

June
Dec.
Feb.
Mar.
Mar.

3-3/8
2-1/2
2-1/2
3-5/8
2-1/2
3-7/8
3-3/4

29
409

20
132

4

2-1/2
2-1/2
2-5/8
2-1/2
2-1/2
3-3/4

May

5

U

lU

23

3

1%5

572

2,047
1,456
126
175
258
210
236
216
167
259
132

59

146

47

10
4

Feb.

l%4-69

563

2,200
871
1,733
469
250
1,815
680

680
232
428
684
699
197
911
409

81

.

1

23

16
12
«

145
247
130
256

51

HI

4

289
253
860
216
668
282
236
869
134
57
858
376
633
71
433
652
69
356

2%
406
606
158
37
8
22

August 1962

73
.TREASURY SURVEY - COMMERCIAL BANK OWNERSHIP, JUNE 30, 1962.

Section

-

I

Interest-Bearing Securities Issued or Guaranteed by the United States Government
Table 3.- Public Marketable Securities by Issues - (Continued)
(Par values - in mlllioDS of dollars)

Federal Reserve member banks

Issue

Treasury bonds - (Continued);
Feb.
1980
.,
3-1/2
Nov.
1980
May
1985
3-lA

~U

3-1/2
3

3-1/2

Feb.
Feb.
Nov

.

1990
1995
1998

Total Treasury bonds

Guaranteed securities 4/
Total public marketable
securities

Held by
6,200
commercial
banks 1/

22 Central reserve city

3,961
member
banks

Total New
York City
and Chicago

13

New York
City

9

Chicago

202
reserve
city

2,239

3,737
country

nonjn ember

banks

58
91
101

42
83
74

3

4

36

3

3A
28

46
39

162
47
94

145
31
80

10

42
6
12

93
24
66

18
16
13

23,081

20,004

3,050

7,594

9,360

3,077

49

48

12

30

57,087

49,620

18,731

21,165

7

9,725

2,289

7,763

761

1,962

Footnotes at end of Table 4.

Table 4.- Public Nonmarke table Securities by Issues
(Par values - in millions of dollars)

15
8

27

7,467

7^
TTJTrAt3ITOV

Auqust 1962

75
MARKET QUOTATIONS ON TREASURY SECURITIES, JULY 31, 1962

Current market quotations shown here are over-the-

counter closing bid quotations In the New York market
for the last trading day of the month, as reported to
the Treasury by the Federal Reserve Bank of New York.

marketable securities issued by the United States GovernOutstanding Issues which are guaranteed by the

ment.

United States Government are excluded because they arr
not regularly quoted in the market.

The securities listed Include all regularly quoted public

Table 1.- Treasury Bills (Taxable)
Amount

76

August 1962

77

MARKET QUOTATIONS ON TREASURY SECURITIES, JULY 31, 1962

o
o
aoiii

0>Q.

.
.
.

.
.
.

.
.
.
.
.

Treasury Bulletin

7«
.AVERAJE YIELDS OF LONG-TEI*! BONDS.

Table

1.

Average Yields of Taxable Treasury and Moody's Aaa Corporate Bonds by Periods
(Percent per annum)

Treasury
bonds 1/

Period

Moody's Aaa
corporate
bonds

Treasury
bonds 1/

Period

Moody's Aaa
corporate
bonds

Treasury
bonds 1/

Annual series - calendar year averages of monthly series
2.83
2.73
2.72
2.62
2.53
2.61
2.82

1947
1948

2.46
2.47
2.48
2.37
2.19
2.25
2.44

1953-Aprll

2.97 2/

1942
1943
1944
1945
1946

May

Monthly series - averages of daily series
3.28
3.0C
3.17
3.43
3.56
3.21
3.59
3.20
3.69
3.30
3.75
3.40

1956- July
August ....
September.
October. ..
November.
December.

3.11
3.13

June
July
August . .
September
October.
November.
December.

02
02

98
83
86
79 i/

2.69
2.62
2.53
2.48

1954-January.
February.
March. .
April
.

54
55

Vtay

June
July
August . .
September
October.
November
December.

1957- January.
February.

47
48
52
54

57
2.59 2/

.90
.89
.87

2.89
2.87
2.89
2.90

2.68 2/
2.78
2.78 2/
2.82
2.81
2.82
2.91
2.95
2.92
2.87
2.89
2.91

May
June
July
August . .
September
October.
November.
December.
1956-January.
February.
March. . .
April

May
June

2.93
2.99
3.02
3.01
3.04
3.05
3.06

2.83
2.85
2.93 2/
3.07
2.97
2.93

1955-January.
February.
March. . .
April

3.11
3.08
3.10
3.24
3.28
3.27

1%0.
1%1.

1959-October. ..
November
December.

4.11 2/
4.12
4.27

1960-January.
February.

4.37
4.22
4.08
4.18 2/

.

.

March
April
May

67
66
67

March
April

26

May

40
58 2/

91
99
10

,60

August ....
September.
October.
November.
December.

.63
.66

g/ 2/

.73

.

.57 2/
.30 2/

12

10
08
81

36

.76

09
11

.70
.80

4.09
4.08

.24
.28

March
April
May

.25
.12

June
July
August ....
September.
October. .
November.
December.

.20

2/

.U

1959-January. .
February.

.91

2/

2/

.92
.92

March
April
May

.01

.08
.09
,11
.10
.26

Jxine

July
August ....
September.

3.89
3.81
3.78
3.80
3.73
3.88
3.90
4.00
4.02
3.98
3.98
4.06

.

March
April
May

85

.75

1961-January.
February.

3.60
3.59
3.63
3.60
57
57
67

.60

1958-January. .
February.

16
98
86
79
84 2/
91
3.93
3.88

June
July
August ....
September.
October. .
November.
December.

74

June
July

32

3.08
3.47
3.43
4.08
4.02
3.90

1956.
1957.
1958.
1959.

77

34
22

.

.06
.95
.86
.85
.88

2/

2.66
2.62
2.86
2.96
3.20
2.90
3.06

2.31
2.32
2.57
2.68
2.94
2.55
2.84

1949.
1950.
1951.
1952.
1953.
1954.
1955.

June
July
August ....
September.
October. .
November
December.
.

1962-January. .
February.

4.12

March
April

4.U

May

4.13
4.23
4.37
4.46
4.47
4.43
4.52

4.08
4.09
4.01
3.89
3.88
3.90
4.02 2/

June
July

Weekly series - averages of daily series for weeks ending 1962-February

4.42
4.42
4.43
4.42

2.
9.
16.

23.

March

2.
9.
16.

23.
30.

4.08
4.06
4.02
3.97
3.96

4.42
4.40
4.39
4.39
4.38

3.98
3.98

31
31

3.99
4.02

32
32

1%2-April

May

6..
13..
20..
27..

3.90
3.89
3.88
3.90

4.37
4.34
4.33
4.31

4..
11..
18..
25..

3.87

4.30
4.29
4.28
4.27

3.85

3.87
3.90

1%2-June
15.

22.
29.

July

6.
13.

20.
27.

Daily series - unweighted averages

l%2.July

2.
3.
4.
5.

6.

9.
10.
11.

1962- July

12..
13..

4.02
4.01

4.34
4.34

16..
17..
18..
19..

4.02
4.03
4.03
4.03
4.02

4.33
4.33
4.33
4.34
4.34

i/

33
33
34

20..

1962-July

23...

3.89
3.88
3.87
3.90
3.95

3.99
4.03
4.03
4.02

August 1962

79
AVEEIAGE YIELDS OF LONG-TERM BONDS.

CO

o
z
o
m
UJ

^
Q
^

a:

o
c
o

q:

-J

o
o

g

>k

«
«

a

a>

LiJ

IV

^

*

LlI

(O

O
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UJ
>UJ

<
a:
ui

>
<

I

.

.

.

'

Treasury Bulletin

60
INTERNAL REVENUE COLLECTIONS

.

Table 1.- Summary by Principal Sources
(In thousands of dollars)

Individual inocroe tax and employment taxes
Budget
receipts froo
Internal
revenue

Fiscal
year
or iDOnth

Adjustment of
collections
to budget
receipts 1/

70,299,652
66,288,692
75,109,083
80,171,971
79,978,476

195*
1955
1956

1957
1958

Corporation
income and
profits
taxes

Total collections reported
by Internal
Revenue Service

f 364,672

-3,566 5/

37,921, 3U

Individual
Income tax
withheld

y

37,869,770
42,633,426
46,610,293
47,212,944

21,546,322
18,264,720
21,298,522
21,530,653
20,533,316

69,934,980
66,288,692 i/
75,112,649 i/
80,171,971
79,978,476

Individual
income tax not
withheld 2/

Total

10,736,578
10,396,480
11,321,966
12,302,229
11,527,648

22,077,113
21,253,625 i/
24,015,676
26,727,543
27,040,911

11,733,369
13,271,124
13,175,346
M, 403, 537

29,001,375
31,674,588
32,977,654
36,216,232

V

Old-age and
disability
Insurance 2/

Railroad
retirement

605,221
4,218,520
5,339,573 i/ 600,106
634,323
6,336,805
616,020
6,634,467
575,282
7,733,223

Unemployment
ins\irance

y

283,882
279,986
324,656
330,034
335,880

79,797,973
91,774,803
94,401,086
99,423,453

79,797,973
91,774,803
94,401,086
99,423,453

21,764,940
21,295,692

49,588,488
56,104,300
58,655,452
63,345,311

3,427,747
8,373,396
9,945,359

3,427,747
8,373,396
9,945,359

519,563
382,280
3,250,550

1,785,961
6,635,584
5,563,577

245,119
160,611
2,017,145

1,525,870
6,389,944
3,490,501

U,261

324,020
341,108
345,356
457,630
710

84,163
55,296

865
635

..

3,506,919
7,783,190
8,355,057

3,506,919
7,783,190
8,355,057

407,784
377,163
3,322,058

1,854,657
6,156,753
3,868,610

216,452
123,253
428,497

1,636,124
5,956,755
3,392,830

1,306
75,893
46,716

775
851
567

1962- Jan...
Feb...
Mar...

5,590,573
9,489,476
12,088,950

5,590,573
9,489,476
12,088,950

466,316
399,836
5,878,722

3,923,062
7,989,682
4,915,638

2,330,186
873,118
926,332

1,533,837
6,657,056
3,920,786

U,235
80,574
49,639

47,803
378,936
18,881

Apr
Uay...
June^

7,810,160
10,337,612
12,715,015

7,810,160
10,337,612
12,715,015

445,232
469,144
5,377,044

6,092,590
8,508,446
6,050,752

4,780,201
1,219,346
1,997,169

1,296,662
7,204,336
3,995,558

12,568
81,789
56,551

3,158
2,975
1,474

1959
1960

1%1
1962p

l%UJuly..
Au£...
Sept..
Oct...
ftov...

Dec.

.

.

18,091,509

22,179,4U

8,004,355
10,210,550
11,586,283
11,697,920

525,369
606,931
570,812
569,992

Excise taxes
Fiscal
year
or month

Estate and
gift taxes

Other excise
Total
excise

41,258

1,523,789

3%,755

39,390

1,356,477

349,206

343,809
342,838

254,1%

183,625
183,957
164,628

106,658
1,367,785
224,450

U0,254

94,502
1,450,619
416,681

966,842
1,139,549

223,653
188,933
312,688

116,026
215, UO

313,300
202,888
164,379

959,039
1,157,135
1,122,840

244,865
305,365
311,416

157,664
169,412
192,396

1,008,%7

Internal Revenue Service reports for detail of collections by type
of tax; monthly statement of receipts and expenditures of the Government
for budget receipts froo internal revenue (for explanation of reporting
bases in this publication, see page II). Certain detail by type of
tax is available only from Tet>'rns filed with the Internal Revenue Service.
The figures shown Include collections for credit to special accounts for
certain island possessions, as reported by the Internal Revenue Service.
Beginning with the fiscal year 1955, they include the amounts of tax
collected In Puerto Rico upon articles of merchandise of Puerto Rlcen
manufacture cosing Into the United States. Figures for 1954 have been
revised to the same basis.
Differences between the amounts of internal revenue reported by the
Internal Revenue Service as collections for given periods and the
•ounts reported In Treasury atateoents as budget receipts for the
Bsae periods arose because of differences In the time when payments
were Included In the respective reports. Tax payntents are Included
In budget receipts when they are reported as credits to the account
of the Treasurer of the United States.
Prior to July 1954, they were
Included in Internal Revenue Service collection reports after the
retuma to which they applied had been received In Internal revenue
offices. Under procedure begun In 1950 with withheld income tax and
old-age Insurance taxes and later extended to railroad retirement
taxes and many excises, these taxes are paid currently Into Treasury
depositaries and the depositary receipts, as evidence of such payments,
•re attached to quarterly returns to the Internal Revenue Service.
Under this procedure, the peyaenta are Included in budget receipts

43,130
1,462,996

1U,927
107,546
109,452

U9,350

}

b/'

Miscellaneous 6/

238,947

Source:

i/

380,222

1,102,284
1,123,156
1,012,520

192,229
133,115
155,040

.

1,277,184

94,854
1,488,397
258,802

1962- Jan..
Feb.
Uar.
. .

41,487

137,430
196,209
168,995

3,193,7U

Dec.

Apr.

426,068

237,581
291,600
284,338

10,8U,268

126,117
151,870

Usy
Junep

1,378,800

975,497
1,197,316
983, U8

U2, 194

U7,784

37,185

133,817
139,231

3,212,801
3,341,282

5,884,286
6,639,879
6,941,327
7,247,822

Oct..
Nov..

158,216

159,319

1,435,953
1,386,829
1,497,526
1,552,253

1,806,816
1,931,504
1,991,117
2,025,736

U6,726

. . .

4,314,517
5,113,818
5,294,451
5,536,250

3,002,096

1961- July.
Aug..
Sept.

1961
1962 p

1,936,527
1,492,633
1,608,497
1,718,509
1,741,327

90,000
112,049

10,759,549
11,864,741
12,064,302
12,748,591

1%0

3,127,465
3,177,160
3,777,909
4,098,006
4,315,756

5,153,992
4,781,843
5,501,333
5,924,062
6,166,535

1,352,982
1,626,348
1,916,392
2,033,859

1959

Uanuf a cturers
and retailers'

1,580,512
1,571,213
1,613,497
1,674,050
1,734,021

9,532,222
9,210,582 i/
10,004,195
10,637,544

1957
1958

Total

2,797,718
2,742,840
2,920,574
2,973,195
2,946,461

935,122
936,267
1,171,237
1,377,999
1,410,925

1954
1955
1956

Tobacco

Documents,
etc. 6/

2/

2/

V
i/

fi/

p

in the month in which the depositary receipts are issued to the taxpayers. Revised accounting procedures effective July 1, 1954,
extended the same practice to Internal Revenue Service collection
reports.
Monthly figures Include social security tax on self-employment
income, which is levied and collected as part of the individual
income tax. Fiscal year figures exclude this tax, on the basis
of estimates (see footnote 3), and it Is Included under "Old-age
and disability insurance."
In Internal Revenue Service reports current collections are not
separated as to type of tax; the breakdown shown for fiscal years
is based on estimates made in accordance with provisions of Sec. 201
of the Social Security Act, as amended (42 U.S.C. 401), for transfer
of tax receipts to the trust funds (see "Budget Receipts and Expenditures," Table 1).
Beginning with the fiscal year 1955, collections shown include undistributed depositary receipts and unapplied collections.
For excise
taxes these receipts are included in the totsl only. Total collection
include "Taxes not otherwise classified."
Budget receipts for 1956 were reduced by $3,566 thousand representing tax collections transferred to the Government of Guam pursuant
to the act approved August 1, 1950 (48 U.S.C. 1421 h), but this
amount was Included In collections reported by the Internal Revenue
Service.
Beginning with 1957, such collections are excluded also in
Internal Revenue Service reports.
Detail Is reported by quarters beginning with the fiscal year 1956.]
>6J
Preliminary.

August 1962

gl
.INTERNAL REVENUE COLLECTIONS,

INTERNAL REVENUE COLLECTIONS BY PRINCIPAL SOURCES
Fiscal Years
DOLLARS
Billions

100

80

60

40
20

1948-1962

.

Treasury Bulletin

82
.MONETAEY STATISTICS,

Table 1.- Money in Circulation
(In millions of dollars except per capita figures)

Paper money 2/
End of fiscal
yetir or tDOnth

Total
money in
circulation 1/

Total
paper
money

Gold
certificates

Silver
certificates

Treasury
notes of
1890

United
States
notes

Federal
Reserve
notes

Federal
Reserve
Bank
rtotes

National
bank
notes

25,385
25,618
26,055
26,329
26,342

180
163

2,162
2,200

320
319
318
321
317

133
120

64
62
59

30
30

2,155
2,127
2,094

316
318
318

110
100

57
56

31,117

29

2,009

318

27,029
27,094
27,353
28,622

32,869

30,442

30

2,110

313

32,477
32,609
32,658

30,002
30,118
30,152

30
30
30

2,077
2,075
2,079

32,836
33,538
33,918 2/

30,303
30,975
31,336

30
30
30

1962-January..
Februory.
Mnr-h

32,774
32,880
33,018

30,222
30,319
30,438

29
29
29

2,013

Afrl

33,159
33,518
33,770

30,547
30,381
31,117

29
29
29 i/

2,030
2,035
2,009 5/

1V58

29,922
30,229
30,715
31,082
31,172

28,127
28,372
28,767
29,040
29,071

1959

31,9U

V''A

32,065
32,405

29,699
29,726
29,943

31

1^>6C

1962

33,770

1960-Deceobor.

1961-July
August

1954
1955
l^'jb
i

'>.......•••

,

.

October.
No.'cmber.
Etecember.

May
June

35

34
33
33
32

2,135
2,170

2,M8

U7

70

67

92

54

85

53

27,837

96

55

315
315
314

27,434
27,553
27,584

91

90
90

54
54
54

2,076
2,098
2,120

315
318
314

27,739
28,386
28,731

89
89
89

54
54
54

1,974
1,969

306
310
314

27,771
27,869
27,941

88
87
37

54
53
53

316
320

28,033
28,358
28,622 6/

86
86

53
53

85

53

313

.
.
.

.
,

August 1962

S3
.MOKETAPY STATISTICS,

Table 2.- Monetary Stocks of Gold and Silver
(Dollar amounts In millions)

Gold

End of fiscal
year or month

Silver
($1.29+ per
fine ounce)

($35 per

fine ounce)

1955
1956
1957
1958

21,927.0
21,677.6
21,799.1
22,622.9
21,356.2

1959
1960
1961
1962

19,704.6
19,322.2
17,550.2
16,435.2

1960- December.

195.;

Ratio of silver to
gold and silver in
monetary stocks
(in percent)

3,863.
3,922.
3,994.
4,116,
4,306.

4,4W.l

1/

15.0
15.3
15.5
15.4
16.8
18.3
18.5
19.9

4,394.5
4,346.5
4,317.4

20.8

17,766.6

4,375.6

19.8

1961-July
August ,
September

17,526.9
17,451.1
17,376.0

4,343.8
4,335.6
4,331.5

19.9
19.9

20.0

October.
November.
December.

17,300.4
16,974.7
16,889.0

4,324.9
4,311.6
4,308.6

20.0
20.3
20.3

1962- January.
February,
March. . ..

16,815.1
16,789.6
16,608.4

4,307.6
4,312.6
4,312.3

20.4
20.4
20.6

16,494.5
16,434.4
16,435.2

4,312.0
4,315.1
4,317.4

20.7
20.8
20.8

.

April.

.

.

May
June

Circulation Statement of United States Money,
Source:
silver monetary stock see Table 4.

For detail of

1/

See Table 3, footnote 3.

Table 3.- Gold Assets and Lii^bilities of the Treasury
(In millions of dollars)

End of calendar year or month

Ctold

assets

1/

Liabilities;
Gold certificates,
etc. 2/

Balance of gold in
Treasurer's account

21,223.5
21,199.1
21,458.3
22,272.9
20,138.2

48'5.0

19,350.5
17,665.6
16,771.2

105.4
101,0
117.8

September,

17,526.9
17,451.1
17,376.0

17,378.7
17,342.6
17,254.7

148,2
108,4
121,3

October.
November.
December.

17,300.4
16,974.7
16,889.0

17,184.2
16,866.0
16,771.2

116,2
108.7
117.8

1962-January. .,
February,
March. ...

16,815.1
16,789.6
16,608.4

16,698.0
16,685.7
16,492.1

117.1
103.9
116.3

April

16,494.5
16,434.4
16,435.2

16,377.8
16,313.8

116.7
120.6
121.2

1954
1955
1956
1957
1958

,

21,712.5
21,690.4
21,949.5
22,781.0
20,534.3
19,455.9
17,766.6
16,889.0

1959
1960
1961

1961-July
August .

. .

May
June

Source:
Circulation Statement of United States Money.
1/ Treasury gold stock; does not include gold in Exchange Stabilization
Fund.
See "International Financial Statistics," Table 1.
2/ Comprises (l) gold certificates held by the public and in Federal
Reserve Banks; (2) gold certificate credits in (a) the gold
certificate fund - Board of Governors, Federal Reserve System, and

2/

y

16,3U.l

491.2
491,2
508.1
396,1

(b) the redemption fund - Federal Reserve notes; and (3) reserve
of $156.0 million against United States notes and through
June 30, 1961, Treasury notes of 1890.
The United States payment of the $343.8 million Increase in its

gold subscription to the International Monetary Fund, authorized
by the act approved June 17, 1959 (22 U.S.C. 286e) was made on
June 23, 1959 (see "Budget Receipts and Expenditures," Table 3,
footnote 10).

.

,

Treasury Bulletin

sii

.MONETABY STATISTICS,

Table 4.- Components of Silver Monetary Stock
(In millions of dollars)

Silver held in Treasury
End of calendar
year or aonth

Silver outside
Treasury

In Treasurer's account

Securing silver certificates 1/

Silver
bullion i/

Subsidiary
coin 2/

Sliver
bullion 2/

Silver
dollars

H58

2,171.1
2,194.4
2,208.9
2,212.9
2,245.0

267.6
253.5
236.3
219.0
202.7

1959
1960
1961

2,251.4
2,252.1
2,237.5

182.
161,

1961-July
August ...
Septeaber

2,252.3
2,252.3
2,252.3

144.7
137.9

October.
November.
December.

2,252.3
2,245.9
2,237.5

136.2
133.6
130.1

4.9

196^-January..
Febnjary.
Uarch.. . .

2,230.7
2,226.9
2,219.1
2,202.3
2,136.3
2,183.1

195*
1955
1956
1957

April

May
June

^
^

Subsidiary
coin 2/
1,242.7
1,283.2
1,338.2
1,402.6

1,U6.2

3,886.6
3,930.1
4,064.1
4,185.4
4,362.5

8.2

11.0
17.9
63.0
92.3

U.9

M8.3

223.1
235.4
252.2
269.3
285.4

127.4
88.2
24.2

305.5
326.5
357.3

1,513.4
1,576.0
1,650.5

4,382.7
4,375.6
4,308.6

53.5
45.3
39.3

340.4
342.8
349.6

1,605,
1,613,
1,619,

4,343.8
4,335.6
4,331.5

29.5
22.5
24.2

351.3
353.9
357.3

1,633.
1,644.

3.6

1,650.5

4,324.9
4,311.6
4,308.6

129.7
129.5
127.7

7.8
10.8
15.6

26.4
29.2
26.1

357.7
357.9
359.7

1,650.1
1,651.2
1,657.7

4,307.6
4,312.6
4,312.3

121.5
119.5
115.5

11.6
8.7
4.5

26.3
29.1
30.1

365.8
367.8
371.9

1,679.2
1,697.8
1,706.3

4,312.0
4,315.1
4,317.4

48.0
15.7
2.3

130.1

147.2

Circulation Statement of United States Money; Office of the
Treasurer of the United States.
Valued at $1.29+ per fine ounce.
includes silver held by certain agencies of the Federal Government.

Source:

Silver
dollars 1/

Total
silver
at $1.29+
per fine
ounce

6.7
5.7
6.5
5.1

J/

^

Valued at $1.38+ per fine ounce.
Includes bullion at cost, bullion valued at $1.29+ per fine ounce
held for coinage, and bullion valued at $1.38+ per fine ounce held
for recoinage of subsidiary silver coins.

s

.
. .

August 1962

&,

MONETARY STATISTICS

Table 5.- Seigniorage
(Cumulative from January 1, 1935 - in millions of dollars)

Sources of seigniorage on silver bullion revalued
End of calendar
year or month

Seigniorage
on coins
(silver and
minor) 2/

Misc. silver
(incl. silver
bullion held
June U, 1934)

\J

Newly mined silver

2/

Silver Purchase Act

Nationalized
silver

of June 19,

(Proo. of
Aug. 9, 1934)

1934

Proclamation
of Dec. 21,

1933

18.5
46.1
63.7
69.5
91.7
122.2
182.1
245.7
299.6
362.3
429.5
491.9
520.5
559.2
578.7
596.6
642.3
694.2
742.2
792.9
807.0
839.6
890.3
932.0
981.6
1,038.5
1,101.7

1935
1936
1937
1938
1939
1940
1941
1942
1943
194-4

1945
1946
1947
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
1960
1961

1962- Janua ry

February
March.
.

April...

May
June p.

July p

.

.

48.7
48.7
48.7
48
48
48
48
48
48.7
48.7
48.7
48.7
48.7
48.7
48.7
48.7
48.7
48.7
48.7
48.7
48.7
48.7
48.7
48.7
48.7
48.7
48.7

226.2
302.7
366.7
457.7
530.7
562.7
580.4
584.3
584.3
534.3
701.6
832.1
832.1
832.2
833.6
833.7
833.7
833.7
833.7
833.7
833.7
833.7
833.7
833.7
833.7
833.7
833.7

34.5
34.7
34.7
34.7
34.7
34.7
34.7
34.7
34.7
34.7
34.7
34.7
34.7
34.7
34.7
34.7
34.7
34.7
34.7
34.7
34.7
34.7
34.7
34.7
34.7
34.7

34.7

16.8
36.0
58.0
74.9
87.3
87.6
87.6
87.6
87.6
87.6
87.6
87.6
87.6
87.6
87.6
87.6
87.6
87.6
87.6
87.6
87.6
87.6
87.6
87.6
87.6
87.6
87.6

1,107.9
1,110.6
1,112.7

48.7
48.7
48.7

833.7
833.7
833.7

34.7
34.7
34.7

1,115.3
1,119.2
1,122.8

48.7
48.7
48.7

833.7
833.7
833.7

1,126.9

48.7

833.7

Source:
Bureau of Accounts.
1/ These items represent the difference between the cost value and the
monetary value of silver bullion revalued and held to secure silver
certificates.
2/ Total of seigniorage on coins and on newly mined silver, beginning

Acts of
July 6, 1939,
and July 31, 1946

Total
seigniorage
on silver
revalued 2/

Potential
seigniorage on
silver bullion
at cost in
Treasurer'
account j/

150.8
155.2
156.4
166.0
167.9
167.9
167.9

326.2
422.1
508.1
616.0
705.6
759.4
799.7
818.9
820.6
820.7
938.1
1,069.6
1,077.6
1,087.8
1,098.1
1,109.3
1,119.2
1,130.0
1,139.3
1,148.4
1,155.4
1,159.8
1,161.0
1,170.6
1,172.5
1,172.5
1,172.5

87.6
87.6
87.6

167.9
167.9
167.9

1,172.5
1,172.5
1,172.5

M.6
W.7

34.7
34.7
34.7

87.6
87.6
87.6

167.9
167.9
167.9

1,172.5
1,172.5
1,172.5

14.7
15.8
16.7

34.7

87.6

167.9

1,172.5

16.8

j/
p

4.2
25.7
48.3
63.6
65.3
65.4
65.5
66.5
74.5
84.6
93.5
104.7
114.6
125.4
134.7

U3.8

274.9
397.5
541.6
758.8
950.6
1,055.8
1,089.0
1,048.2
967.3
717.3
333.2
161.2
146.8
129.9
127.2
111.7
81.9
57.2
34.9

6.6
14.3

50.0
72.9

lU.O
98.3
70.8
12.6

12.6

with that for July 1959, is Included under coins; the breakdown is
not available after Jime 1959.
The figures In this colxMn are not cumulative; as the amount of
bullion held changes, the potential seigniorage thereon changes.
Preliminary.

.

Treasury Bulletin

6S

.INTERNATIONAL FINANCIAL STATISTICS.

Table 1.- U. S. Gold Stock, and Holdings of Convertible Foreign
Currencies by U. S. Monetary Authorities
(In millions of dollars)

&id of calendar
year or nonth

Total
gold stock
and foreign
currency
holdings

Gold stock

1/

Treasury

Total

2/

Foreign
currency
holdings 2/

1953
195«
1955
1956
1957

22,091
21,793
21,753
22,058
22,857

22,030
21,713
21,690
21,949
22,781

22,091
21,793
21,753
22,058
22,857

1958
1959
1960

20,582
19,507
17,804

1961

17,06;.

20,534
19,456
17,767
16,889

20,582
19,507
17,804
16,947

1962-January.
February.
Uarch....

16,963
16,948
16,873

16,815
16,790
16,608

16,847
16,795
16,643

230

16,762
16,718
17,081

16,495
16,434
16,435

16,519
16,458
16,527

243
260
554

16,679

16,

U8

16,183

4%

April

Hay
June

July p.

Note:

V

..

The United States also has certain drawing rights on the International Monetary Fund, in which the United States has a quota of
t4,125 million. In accordance with Fund policies, these drawing
rights include the right to draw virtually automatically an amount
equal to the sun of the United States gold subscription to the Fund
(11,031.2 million) and the Fund's net use of dollars; on July 31,
1962, these two amounts totaled tl,106.5 million.
Under appropriate
circumstances the United States could draw an additional amount equal
to the United States q\K>ta.
Includes gold sold to the United States by the International Monetary

2/

j/
p

116

U6
153

Fund with the right of repurchase, the proceeds of which are invested
by the Fund in U. S. Government securities; as of July 31, 1962, this
amounted to $800 million.
Includes gold in Exchange Stabilization Fund, which is not included
in Treasury gold figures shown in "Circulation Statement of United
States Money." See "Monetary Statistics," Table 3.
Includes holdings of Treasury and Federal Reserve System.
Preliminary.

.

August 1962

«7
.CAPITAL MOVMENTS.

Data relating to capital movemente between the United

will be exactly comparable to those now presented.

States and foreign countries have been collected since
pursuant to Executive Order 6560 of January I5, 13"}^,

1935,

Executive Order IOO33 of February S,

19'*^9.

and Treasury

Information on the
regulations promulgated thereunder.
principal types of data and the principal countries Is reported monthly, and Is published regularly In the "Treasury
Bulletin."

They provide summaries, by periods and by coun-

tries, of data on short-term banking liabilitieB to and
clalmB on foreigners and transactions in long-term securities by foreigners, and present detailed breakdowns of the

latest available preliminary data.

Supplementary Information Is published less

frequently.

The first three sections which follow are published
monthly.

Reports by banks, bankers, securities brokers
and Industrial and commercial concerns In the

and dealers,

United States are made Initially to the Federal Reserve
Banks,

which forward consolidated figures to the Treasury,

Beginning April

195'^,

data reported by banks In the Terri-

tories and possessions of the United States
In the

aire

Included

Institutions and Individuals domiciled outside the

United States and Its Territories and posseselone, the

official Institutions of foreign countries, wherever
such Institutions may be located,

izations.

and "long-term" refers to all other

A detailed discussion of the reporting cov-

Tiaturltles.
erage,

and International organ-

"Short-term" refers to original maturities of

one year or less,

statistical presentation, and definitions appeared

In the June 195'+ issue of the "Treasury Bulletin," pages
l4-5-'+7.

As a result of changes In presentation introduced

In that

Issue,

Table

1,

clal concerns,

is published quarterly In the January,

April, July, and October issues of the Bulletin.

Table

^,

foreign credit

and debit balances in brokerage accounts, appears semi-

annually In the March and September Issues. Table 5.
short-term liabilities to foreigners in countries and
areas not regularly reported sepao'ately by banking institutions, is presented annually, appearing in the April

issue through 1958 and in the March issue thereafter.
Table 6, purchases and sales of long-term securities by
foreigners during the preceding calendar year, also appears

annually, beginning with the May 1959 issue.

not all breakdowns previously published

Analysis of net capital movement
Net

1961-July
August
September.

. .

October
November
December
1962- January

February
March
April

May p
June p
p

r

Preliminary,
Revised.

2,

institutions, are published quarterly in the March, June,

September, and December Issues.

(In millions of dollars; negative figures Indicate a net outflow of capital from the United States)

1935-il
1942
1943
1944
1945
1946
1947
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
1960
1961

Table

long-term foreign liabilities and claims reported by banks

Section I - Summary by Periods
Table 1.- Net Capital Movement Between the United States and Foreign Countries

Calendar year
or month

short-

term foreign liabilities and claims reported by nonf inan-

and bankers, and Table 3i estimated gold reserves and
dollar holdings of foreign countries and international

published data.

The term "foreigner" as used In these reports covers
all

Section IV provides supplementary data in six tables

which appear at less frequent intervale.

capital
movement

Changes in claims on foreigners

Changes in liabilities to foreigners

Total

Short-term
banking funds

Transactions in
domestic securities

Total

.

.

.

Treasury Bulletin
8S

.CAPITAL MOVEMENTS.

Sectlon I - Summary by Periods
to and Claims on Foreigners
Table 2.- Short-Term Banking Liabilities
(Position at end of period in millions of dollars)
Shor-.-tenn claims on foreigners

Short-term liabilities to foreigners

Payable in dollars

Payable in dollars
End of calendar
year or Bonth

4,205.4
5,374.9
5,596.8
6,883.1
6,480.3
7,116.4
7,718.0
7,618.0
8,644.8
9,302.2
10,546.1
11,648.4
12,918.6
13,600.7
U, 939.1
15,158.3
16,159.1
19,388.7
21,329.3
22,551. Or

2,244.4
3,320.3
3,335.2
4,179.3
3,043.9
1,832.1
2,836.3
2,908.1
3,620.3
3,547.6
4,654.2
5,666.9
6,770.1
6,952.8
8,045.4
7,916.6
8,664.9
9,154.3
10,326.9
10,927.3

1961- July
August . . .
Septeaber.

21,769.7
21,626.1
21,939.9

October. .
Noveaber.
Deceaber..

22,234.7
22,416.8

1942.
1943.

19U.
1945.
1946.
1947.
1948.
1949.
1950.
1951.

International

Other
foreign

Foreign
official

Total

".,947. 1

2,036. 7
2,239. ,9
2,678. 2
2,922. ,0
2,972, 7
2,947, ,0
3,001. ,0
3,451, ,7
4,041, ,2
4,245, ,6
4,308, ,4
4,335, ,4
4,726, .5
5,392,
5,665, .3 1/
5,890, ,8

March
April..

Hay p..
Jur.e p.

7,545.7
7,577.0
7,481.3

3,983.3
3j404.1
3,434.3

10,646.2
10,547.5
10,927.3

7,715.1
7,891.8
7,669. 5r

10,215. Or
10,056.5
10,428.4

23,388.4
23,560.2
24,089.6

1962- January. .
February.

10,096.0
10,537.1
10,924.3

22, 551. Or

1954.
1955.
1956.
1957.
1958.
1959.

6,934, .4
7,669, ,5r

22,495. It
22,792.4r
23,207.2r

:9'.2.

473.7
2,262.0
1,864.3
1,657.8
1,527.8
1,641.1
1,584.9
1,629.4
1,769.9
1,881.1
1,452.1
1,517.3
1,544.0
3,158.1
3,954.9
3,803.8

10,217.2
10,433.6
11,186.6

Payable in
foreign
currencies

Loans to
foreign banks

49.7
70.4
51.0
44.9
72.2
61.4

898,

137.2
169.7

245.0
290.5
490.6
557.1
494.3
506.3
699.4
847.5
646.5
969.0
1,056.5
1,390.8
1,666.5
1,904.9
1,909.2
2,610.3
3,415.1

177,

968
1,048
904
1,386
1,548
1,945
2,199
2,542.0
2,624.0

43.7
43.2
40.3
48.8
59.0

U3.7

72.0
86.4
105.4
100.3
319.6
292.9
361.2
222
151

246.7
257.9
329.7
392.8
708.3
948.9
1,018.7
827.9

13.9
17.9
21.6
25.5
40.6

Other

122
156

Payable in
foreign currencies
30.9
34.4
54.6
47.5
98.1
165.4
100.4
110.8
240.6
91.8
78.4
101.6
211.0
163.9

150. 4r

4,700.1

144.7
107.9
100.0

4,188.7
4,122.1
4,155.8

634.8
594.6
606.3

3,117.7
3,101.9

411.9
409.8
447.5

3,7U.7

158.7

3,836.0
3,803.8

U1.5

4,346.7
4,384.0
4,700.1

582.8
598.7
699.4

3,215,9
3,236.1
3,415.1

548.0
549.2
585.6

8,303.7r
8,457.9r
8,189.9r

3,815.1
4,126.0
4,405.1

161. 3r

4,570. 3r
4,688. 3r

3,453. Or

4,868.4r

659.6r
697. Or
798.7

3,548.7r
3,599.8

457.7
442.7
469.9r

8,486.7
8,358.8
8,161.3

V
V

206
328
405
385.5
439.4
497.6
524.3
699.4

4,503.4
4,593.5
4,562.5

181.2
174.3
179.2 g/

4,848.9
4,820.7
4,758.6

804.8
843.3
823.4

3,588.5
3,485.2
3,471.8

455.6
492.2
463.5

.8V

6,999

,1

Beginning in August 1956 and again in April 1957, certain accounts
previously classified as "Other foreign" are included in "Foreign

2/

59.4
77.2
113.1

3,6U.2

150.4r
152.1
183.9

3,1>41.9

U9.6
H7.3
197.7
217.2
479.6
585.6

Includes $74.9 million representing reported liabilities to foreign
Revised.
r
Preliminary.
official institutions.
p

Table 3.- Purchases and Sales of Long-Term Domestic Securities by Foreigners
-ions of dollars; negative figures indicate a net outflow of capital from the United States)

Calendar
year or
•onth
1935-41.
1942
1943
1944
1945
1946
1947
19*8. . .
1949
19J0. . .
1951
1952
1953....
1954
1955
1956
1957
1958
1959
1960
1961

1%1-July.
Aug.
Sept.
Oct.
Not.
Dee.

and notes

Purchases

3%.8 2/
164.2
241.3
513.6
377.7

4U.5
344.8
282.4

Corporate and other

Goverroer.t

S.

U.

V

Sales
492.4 i/
138.5
170.6
268.2
393.4
684.2
283.3
330.3
333.6
294.3

Bends

2/

Net

purchases

-95.7 2/
25.7
70.
245.
-IS.
-269.
61.

Purchases
2/
2/
2/
2/
2/

Sales

194, 6

136

2/

260,
367,

171 4
357 7
432 ,1
376 7

5U

1

-U4.3

375 3

-21.2
2.9
120.3
1.0
55.2
135.0
127.5

108.3
141.6
188.5
197.4
283.6
296.0
251.8
258.9
344.0
296.2
392.3
416.1

42.7
163.0
-3.6

26.3
20.9
15.2

38.9
30.8
29.9

-12.6
-9.8

22.3

126.8
177.4
25.9

120.1
259.4
86.4

55.5
180.7
32.2

64.6
78.8
54.2

15.6
21.8
26.5

30.3

-U.8
-U.8

26.6
27.7

226
369
354
666
739.8
650.2
589.1
1,115.1
1,561.2
1,619.5
1,306.4
1,397.3
2,224.4
1,976.5
3,067.3

-.6
-21.6

792
812
1,018
718
1,187
528
1,603
1,231.5

107.7
120.0
200.1
212.8
289.7
324.7
287.1
310.2
361.4
368.8
442.4
316.9

-4.8
-1.2
-17,4
-6.2

169.5
340.4

1,356,
231,
728,

2/
2/

30.2

58.:

U3.6

268.9
271.8

-27.8
-125.2
-129.5

20.1
20.5
42.5

37.5

Feb.
Ua:.
Apr.

104.0

l*y p..

122.2

Jane p.

IM.l

135.6

-36.4
-176.4
-27.6

42.5
23.0
30.9

41.1
24.7
30.2

142.3

26.7
28.4

I
2/
11.
15.
6.

28.
35.
51.
17.
72.
50.

841.6 i/
75.5

664
619 5
649 2
533.9
980.2
1,433.7
1,363.5
1,163.8
1,453.6
1,861.5
1.774.8
2,744.6

Total
sales

purchases

151,

K
2/
2/

y

Net

K
2/

430.2
96.4

2/
2/

2/

-47.9
96.4
942.1
-683.0
302.3
-82.0
8.2
529.0
-135.0
-52.1
36.3
688.9
126.6
512.2

430.0
1,236.4
673.6
533.7
646.0
800.9
1,341.1
883.4
666.1
1,223.9
1,216.9
1,729.6
1,743.7

Seles

Purchases

-411.4
20.9
-43.0
-34.6
-97.4
-64.5
-150.6

2/

1962- Jan.

^
^

Net

purchases

Total
purchases

256.0

UZ.

.

9,322.1
260.6
392.9
650.4
637.9
782.1
570.9
652.2
784.1
2,011.1
1,533.3
1,384.0
1,447.9
2,205.7
3,227.0
2,790.0
2,282.8
2,982.5
3,810.1

8,695.
214.
365.

439.
751.
1,116.
659.
844.
708.
1,066.

2,117.6
1,069.0
1,459.4
2,056.4
2,541.8
2,633.6

Net purchases of
domestic
securities

626.7
46.6
27.8
210.7
-113.1
-334.2
-89.1
-192.2
75.2
944.4
-584.3

3U.9
-11.5

U9.3
685.2
156.4

2,U1.0

U1.8
-2.7
1,124.4
378.4
735.7

5,127.8

2,985.2
2,685.7
3,770.1
4,392.2

186,

-5.4
2.0
15.6

363.0
586.8
239.2

338.3
431.6
242.0

155.2
-2.8

201
263
244

28.4
25.1
14.8

365.4
569.5
372.6

287.2
470.4
304.9

78.2
99.1
67.7

236.9
217.2
225.7

182.8
181.3
205.6

54.0
35.8
20.2

287.2
381.3
410.5

278.4
476.8
505.7

8.9
-95.6
-95.1

1.3

190.3

-1.7

262.7
214.1

169.8
235.2
279.0

20.5
27.6
-64.9

336.8
408.0
353.0

351.3
558.5
444.8

-150.5
-91.8

-99,

167.2
225.4
201.8

229.7
288.3
259.7

U.2

.7

Through 1949 includes transactiona in corporate boods.
Through 1949 included vith transactions in U. S. GovemBent bonds and

2J

notes.

F

223

172

-56.
362.
201.
322.

4,U8.5

24.7

-M.6

January 4, 1940, through December 31, 1941; the breakdown between
stocks and bonds is not available for earlier years.
Prelinlnary.

..
.
.
.

August 1962

89
.CAPITAL MDVaiENTS.

Section I - Summary by Periods
Table 4.- Purchases and Sales of Long-Term Foreign Securities by Foreigners
(In millions of dollars; negative figijres indicate a net outflow of capital from the United States)

Foreign bonds
Calendar year
or month

Sales
n.a.
n.a.

1935-'il

1942
1943
1944
1945

446.4

3U.3
318.1

n.a.
n.a.
372.2

Foreign stocks
Net

purchases

Purchases
n.a.
n.a.
23.3

Sales

Total
sales

4,008.2
220.5
469.6
340.9
355.4

3,152.6
227.9
391.9
247.4
402.1

855.5
-7.4
77.7
93.5
-46.6

-.4

265.1
39.0
-94.8
27.8

26.6
37.3

19.8
22.1
54.8

n.a.
n.a.
3.5
4.5
-17.5

265.5
24.5
-79.8
9.8
-121.0

65.2
57.1
81.7
88.8
173.8

65.6
42.6
96.7
70.8
198.2

-15.0
18.0
-24.4

821.2
715.9
293.3
410.1
763.0

556.1
676.8
388.2
382.3
908.4

-300.6
-182.1
-79.0
-48.8
183.9
-385.0
-693.1
-1,026.1

272.3
293.9
310.1
393.3
663.6
749.2
592.8
467.2

348.7
329.6
303.4
64A.9
877.9
875.2
621.9
803.7

-76.4
-35.8
6.8
-251.6
-21A.i
-126.1
-29.1
-336.4

772.7
789.1
852.7
1,185.8
1,356.9
1,355.7
1,291.8
1,356.2

1,M9.7

566.1
509.1
595. 7r

803.8
591.7

-237.7
-82.6

%5.6r

-370. Or

1,511.7
1,392.0
l,397.6r

225.3
347.3

74.2
89.0
-29.2

490.4
634.3
291.4
311.5
710.2

801.0
677.4
621.5
841 3
509 4
991 5

n.a.
n.a.

1946
1947
1948
1949
1950

755.9
658.7
211.6

1951
1952
1953
1954
1955
1956

1957
1958

500.4
495.3
542.5
792.4
693.3
606.5
699.0
889.0

1,392
1,915 1

1959
1960
1961

945.6
882.9
801.9

1,457.6
1,445.0
l,262.4r

-512.0
-562.1
-460.4r

1961- July
August . .
September

225.0

120.4
36.1
228.1

-70.2
1.3
-3.1

35. 6r
40. 8r
41. 3r

56. Or
65. Or
58. 6r

-20.4r
-24. 2r
-17. 2r

266. 3r

October.
November,
December.

51.5
62.4
64.4

77.2
104-6
107. 2r

-25.6
-42.1
-42. 8r

53.1r
54.8
59. 3r

79. 4r
94. 3r
139. 9r

-26.4r

104. 6r

-39. 5r

117.2
123. 7r

1962- January..
February

93.4
106.3
94.6

90.9
159.8
144.8

2.5
-53.5
-50.1

57.8
51.3
57.6

80. Or

-22. 2r

87.3
89.8

-36.0
-32.2

78.5
113.8
55.3

114.5
301.1
135.1

-36.0
-187.3
-79.8

57.3
TO.O
70.1

67.4
78.9
107.5

-10.1

321.2
589.2

March

.

.

April. ...

May

p.

. .

June p.

.

Not available.
Preliminary.
Revised.

50.2
37.4

Net purchas
of foreign

Total
purchases

Net
pure has

U.6

-80.6r

-37..

85. 8r
78. 2r

1,007.0
924.9
1,486.1
1,387.3
1,866.8

2,OU.O
2,718.8
2,261.5
2,036.7
2, 228. Or

176. 5r
101. Ir
286.6r

156. 6r
198. 9r
247. It

securities

-U5.4
-377.0
-217.9
-72.2
-300.4
-30.4
-511.1
-722.1
-1,362.5
-749.7
-644.7
-830.4r

-90. 7r
-22. 9r
-20. 3r
-52. Or
-81. 6r

-123-4r

151.2
157.6
152.2

171. Or

-19. 7r

247.1
234-6

-89.5
-82-4

135.8
192.8
125.4

181.8
380.0
242.6

-46-0
-187.2
-117.3

Treasury Bulletin

90
.CAPITAL MOVEMENTS.

Section II - Summary by Countries
Table 1.- Short-Term Banking Liabilities to Foreigners

i/

August 1962

91
,

CAPITAL MOVEMENTS

,

Section II - Summary by Countries
Table 2.- Short-Term Banking Claims on Foreigners!/
(Position at end of period in millions of dollars)

1/

*

Excludes convertible foreign currencies held by U. S. monetary authorities.
Preliminary,
Revised.
Less than $50,000.
r
p

Treasury Bulletin

92
.CAPITAL MDVaffiNTS,

Section II - Summary by Countries
Table 3.- Net Transactions In Long-Term Domestic Securities by Foreigners
foreigners or a net outflow of capital from the United States)
(In thousands of dollars; negative figures indicate net sal es by
Calendar year

Country
1958

Europe:

-1,018
-4,795

Austria
Belgium
Czechoslo\-al[la

Dennark
Finland

678
-4,476

France
Geraany, Federal Republic of.
Greece
Italy
Netherlands

5,235
1,337
-5,715
1,871
-7,645

Norway
Poland
Portugal
Ruaania
Spain

18,303
-26
2,109

-2,249
4,339
-32,303

Sweden
SWItzerlar.d

36

Turkey
U.S.S.R
United Kingdom

-12,228
-26
-3,624

Yugoslavia
Other Europe

-40,197

Total Europe

-202,213

Canada
latin America:
Argentina
Bolivia
Brazil
Chile
Colombia

281
-333
-623
-2,601
410

Cuba
Dominican Republic
Ouatenala

Uexico
Netherlands Antilles and
Surinam
Panama, Republic of
Peru
El Sal-.-ador

,

Uruguay
Venezuela
Other Latin America
Total Latin America
Asia:

China Ifalnland
Hong Kong
India
Indonesia
Iran

larael
Japan
Korea, Republic of
Philippines
Taiwan

Thailand
Other Asia
Total Asia
Other countries:
Australia
Congo, Republic of the
South Africa
United Arab Republic (^ypt)
All other

-786

Total other countries

-450

International
jrar.d

total

1%2

:

August 1962

93
.CAPITAL MOVBilENTS.

Section II - Summary by Countries
Table 4.- Net Transactions In Long-Term Foreign Securities by Foreigners
(In thousands of dollars; negative figures indicate net sales

by foreigners or

Calendar year

a

net outflow of capital from the United States)

1961

1962

Country
1958

Europe
Austria
Belgium
Czechoslovakia
Denmark
Finland

1959

1%1

1960

December

January

-12,186
-16,008

136

82

-107

-2,381
-5,900
-10
5,535

-511
-566

-18,018
21,299
-3
3,256
5,102

Yugoslavia
Other Europe

-93,465
47,539
-552
-35,375
-32,383

10,325
-41,730
-1,564
26,968
-87,643

-33,391
-31,423
-331
9,073
-74,441

1,449

-6,819

407

4U

-57

-739

1,409

973

-216

22

691
92,200
-16

-10,643
51,384
336

5,271
-5,871
102

-1,642
-31,745
-126

230
-3,257
-4

-329
2,365

-27,801

17,726

-1,384

-57,358

-37,184

-5,267

24

-26,268

500
5,348

500
-35,339

-500
4,320

51

-3,229

-72,072

-49, 7U

-117,320

-261,696r

-85,480r

-9,285

-443,009

-195,849

-318,335

-28,102

22,296

-442
69
4,979
812
2,421

-92
24
7,804
2,291
2,437

3,154

-152
-80
-60
17,060

-588
12
21
507

197

-7
3,513

,

,

-l,479r
-11
247

3

-15, W2

1,577
-3,947

867r
-1
44

561

4

,

,

,

,

Total Europe
Canada

Latin America:
Argentina
Boli- ia

Brazil
Chile
Colombia

177
3,282

-543,274

Sweden
Switzerland
Turkey
U.S.S.R
United Kingdom

-13,630
5,021

-8,511
-20,784
-587
-14,519
539

-16,325

Norway
Poland
Portugal
Rumania
Spain

U,385

18,912
99,082
-912
7,345
-234,089

France
Germany, Federal Republic of
Greece
Italy
Netherlands

-137
7,500

,

Cuba
Dominican Republic
Guatemala

Mexico
Netherlands Antilles and
Surinam

47
5,864
631
4,168

-5,551
614
2

-53,597

-7,555
-184
5,775r
1,889
-345
355
123
46
-19,262r

-178
-336
429r
504
110

-13

-2

-19

682
404
170

15
3

10

-452

1,547

1,790

3,492

118

250

472

-3,599
-134
2,443
1,913
1,321
-4,905

-34,435
-1,760
-1,080
-3,034
688
-26,634

2,380

-37

-866

326

25

-30

Uruguay
Venezuela
Other La', in America

-13,669
-443
-703
3,532
253
-10,266

-2,590
-2,703
-36,746

15
75

298

-81
-259
-1,249

Total Latin America

-.,858

11,2,5

-107,431

-58,373r

716r

8
28,318
-50
42
1,015

59
15,283
151
24

-52
1,513
-15
26

-30

-2,117

-46,677
598

-50,536
-32,736

-48,113
763

-693
-52

1,782

-370

1,879
-3

60
-,52

Thailand
Other Asia

-165
-27,167

-955
-29,326

553
4,939

-2,586

Total Asia

—,,8,3

-^,65,

-44,434
-16,099
-66,917

-43,094
-16
8,535

-22, l"?

-18,166
-6
9,067
-356
-5,55,

-U9,625

-15,015

-36,,

-557,576

-156,583

1,362,532

.9, ""30

Panama
Peru

,

Republic of

El Sal'.-ador

-776

Asia:

China Mainland
Hong Kong
India
Indonesia
Iran

Israel
Japan
Korea , Republic of
Philippines

Total other countries
Internatior^l
jrand total

Prelinir.sry.

r

Revised.

-8
-1,962
-62,047r
-50,300

-115

501
24

2

-3
3
-9,157r
61

-3

-8,356r
-828

).

-26

-137

-3
-2

-97

-12C,;81r

-9,306r

-S,693r

-28,883
8
-24,381

246

-23,633

5,410

468

4

-1.860

-1,7, (Xo
-6..,,
I

p

U

4

Taiwa::

Other countries:
Australia
Congo, Republic of the
South Africa
United Arab Republic (£^M)t
All other

2

-3,169

717

-19, .„1

337

-72,693

5,9°3

1,2=>1

-7,26c

-83C,3S':'r

-123,-„5r

77
-Z3

February

April

May

p

Treasury Bulletin

9^
CAPITAL MOVHyffiNTS

,

Section III - Preliminary Details by Countries
Table 1.- Short-Term Banking Llabllltlee To Foreigners as of June 30, 1962
(Position In thousands of dollars)

Short-temi liabilities payable In dollars

Country

Total
shorttero
liabilities

To

forelgi'i ba.'Jta

U.

Total

Deposits

U.

3.

Treasury
bills and
certificates

Short-term
liabilities
payable

To all other foreigners

and official institutions

Deposits

Other

S.

in

Treasury
bills and
certificates

foreign
currencies

Other

Europe:

Austria
Belgiun
Czechoslovakia
Denmark
Finland

1,891
41,205
349
7,501
1,474

54,534
33,597
15,402
27,979
66,056

48,035
27,159
15,402
24,827
61,586

36,471
289
38,803
312
25,565

35,334
271
38,508
312
23,345

15,556
109,122
1,649
308
399,780

14,905
69,202
1,629
308
144,652

34,955

220,173

605

10,137

577
9,758

15

364

1,038,902

895,242

568,230

60,991

266,021

951,259

15,917

283,129

210,717

30,405

42,007

10,000

3,061
16
13,053
476
6,012

104,707
16,637
135,105
80,447
77,199

97,865
16,613
133,085
79,620
75,931

687

6,155
11
2,012
720
1,253

4,121
5,797
33,248
5,782

34,564
16,438
21,947
231,005
48,936

34,399
16,314
21,718
226,757
30,703

95
74
54

175

267
2,789

3,981
15,444

74,641
60,761
17,063
42,221
223,223
125,394

65,796
58,354
16,566
36,294
220,439
110,210

1,634

1,250
708
7,115

7,211
2,407
493
4,677
2,076
8,069

54,804

275,344
210,095
651
44,439
69,709

247,048
126,442

27,404
49,260

15,800
18,200

1,401,993
2,622,129

272,715
284,753
66,965
219,707
103,575

1,026,884
1,877,900
27,500
710,357
126,611

41,773
422,858
94

1,187,239
307,222

1,341,372
2,585,511
94,559
1,084,209
240,856

101,461
8,117
129,585
1,003
158,602

64,673
7,828
90,769
691
133,025

47,127
6,715
84,884
691

4,002

13,544
1,113
5,885

124,575

3,000

5,450

425,487
946,215
22,781
1,572
2,262,004

409,840
826,210
21,132
1,264
1,804,293

103,539
413,136
21,079
1,157
1,108,788

295,500
247,591

10,801
165,483

624,387

107
71,118

Yugoslavia
Other Europe

12,230
238,986

11,625
225,154

9,867
75,581

58,055

1,758
91,518

Total Europe

10,596,300

9,543,249

3,395,560

5,108,787

2,896,627

2,605,267

1,638,091

208,102
24,584
223,298
130,096
159,045

103,323
7,944
86,406
49,627
81,821

90,262
7,928
73,278
49,151
75,509

36,519
48,024

1,955
31,586
30,021
282,157

1,955
27,465

France
Germany, Federal Republic of..
Greece
Italy
Netherlands
Norway
Poland
Portugal
Rumania
Spain
Sweden
Swltzerlrind
Turk'-v

U.o.J>
United Kingdom

Canada
Latin America:
Argentina
Bol ivia

Brazil
Chile
Colombia

Cuba
Dominican Republic
Guatemala

109,%1

51,%8

552

20,024
248,883
24,235

1

47,370
349
7,992
1,474

22,800
50,200

277,236
257,812
1,000
52,481
71,184

5,496
33,453
99
1,235
2,249

154, W5

10,670

53

75

300

4,200
26
8,454

1,892

293

5,872

416

75

3,729
1,226

2,770

2,222
1,192

930
3,278

796
18
197

341

167

2,053

650
15,115

5,212

98

1

24,805
20

28

13
8

107
15

70
50

Mexico
Netherlands Antilles & Surinam

513,371
87,435

Panama, Republic of
Peru
El Salvador
Uruguay
Venezuela
Other Lat In America

87,130
89,813
35,451
78,886
361,542
377,662

12,489
29,034
18,388
36,655
137,972
248,722

148,077

65,886

841
128
4,129
2,357
826
34,759

Iota I Latin America

2,512,926

1,196,571

986,724

95,241

1U,606

1,310,288

1,240,664

14,820

34,641
56,203
49,187
81,811
27,355

28,981
26,313
42,015
79,773
20,652

28,898
21,385
27,011
70,592
20,652

4,928
7,004
281

5,660
29,876
6,650
2,038
6,699

5,654
28,086
6,612
2,038
6,699

6
158

75,974
1,794,534
164,356
179,345
85,252

68,565
1,773,424
162,263
152,686
77,483

36,899
1,135,063
159,763

5,150
515,798

26,516
122,563
2,500

134,7%

3,216
10

W,674

70,681

6,792

7,409
21,058
2,093
26,607
7,769

5,947
20,580
2,093
26,321
7,769

Thailand
Other Aala

326,742
226,230

323,917
188,241

88,873
132,729

228,671
35,338

6,373
20,174

2,825
37,043

2,825
35,257

25

1,761

Tota 1 Aala

3,101,630

2,944,313

1,927,342

805,166

211,805

155,727

U9,881

525

5,321

103,612
37,259
38,943
18,868
220,973

99,969
35,529
35,353
18,263
190,925

51,396
35,452
35,215
12,160
139,060

43,250

3,107
1,730
2,209
449
26,572

3,032
1,523
2,108

63

4,770
43,700

5,323
77
138
1,333
8,165

419,655

380,039

273,283

91,720

15,036

34,067

4,562,499

4,562,219

451,332

4,085,387

25,500

280

24,089,637

21,231,658

8,672,332

11,137,560

1,421,766

2,678,733

Asia:
China Ualnlsnd
""
- "ing
lit.

Irai

Israel
Japan
Korea, Republic of
Phil Ippines
TalwBn

Other Countries:
Austra 1 ia
Congo, Republic of the
South Africa
United Arab Republic (^ypl)..
All Other
Total other countrlea
International

Grand total

•38,471

11,648
28,906
7,959
34,298

6,300

137, U6

83

8,000
8,900

4

50

1,632
38

1,462
428

286

12

207
100

1

449
25,038

13

1,521

32,150

176

1,741

30

250

2,201,642

106,947

370,144

'

.

.
.

.
.

:

.

August 1962
95
CAPITAL MOVEMENTS

Section III - Preliminary Details by Countries
Table 2.- Short-Term Banking Claims on Foreigners as of June 30, 10621/
(Position in thousands of dollars)

Short-term claims payable in dollars

Country

Total
shortterm
claims

Loans to:

Foreign
banks and
official
institutions

Total

Collections
outstanding
for own
account and
domestic
customers

Other

Short-term claims payable in
foreign currencies

Other

Deposits of reporting banks
and domestic
customers with
foreigners

Total

Europe:

Austria
Belgium
Czechoslovakia.
Denmark
Finland

5,477
17,701
11,331
27,475

5,287
14,297
843
9,928
27,316

2,284
3,107
587
1,200
566

51,822
128,610
4,612
36,425
59,077

47,084
110,164
4,338
34,060
52,586

13,595
33,765

24,081
10,124
6,510

22,717
10,124
6,433

12,048

19,640
68,049
37,084
152
150,815
6,036
11,517

18
2,413

1,672
7,714
28

2,153
1,516

2,590
2,467

22,767

6,515
34,899
37
6,293
29,307

12,552
18,585

22,915

U,765

7,472
1,835

2,621
62
1,178

1,189

1,964
786
1,518

16,943
9,203
3,427

11,477

3,684

2,277

3,778

1,738

571

570

14,791
36,070
37,079
152
44,878

1,502
8,583
34,130

113

U,635

4,755
6,353
2,780
152

8,421
6,499

4,849
31,979

4,848
25,346

18,126

5,104

U,304

6,035
11,018

3,728
559

1

395

4,434

689,429

506,677

138,829

Canada

4U,740

235,335

Latin America
Argentina.
Bolivia...
Brazil. . .
Chile
Colombia,

188,428
5,533
200,193
153,603
142,706

184,920
5,533
155,479
153,478
142,496
17,343
15,373
12,841

Mexico
Netherlands Antilles and Surinam.

17,375
15,374
12,866
407,722
6,791

Panama , Republic of
Peru
El Salvador
Uruguay
Venezuela
Other Latin America

France
Germany, Federal Republic of,
Greece
Italy
Netherlands
Norway
Poland
Portuga 1
Rumania
Spain
Sweden
Switzerland.
Turkey
U.S.S.R
United Kingdom.
. ,

5

2,868
6,679

73

310

169

4,287
17,427

1,313
1,063
228
3,985

U,422
9

190
3,404

189
3,381

1,403
159

1,403
159

4,738
18,446
274
2,365
6,491

11,635
274
2,310
6,354

1,364

840

77

77

4,698

5

5

7,344

105,937

92,689

2,849

1,911
3,176

499

499

111,456

121,721

134,671

182,752

155,277

20,302

85,984

7,475

121,574

179,405

59,981

37,964
288
35,575
26,564
28,725

25,499
179
49,175
22,711
34,754

46,594
3,969
19,027
23,511
26,921

74,863
1,097
51,702
80,692
52,096

3,508

3,336

44,714
125
210

44,515

6,791

4,911
920
185,346
187

1,478
496
946
75,885
3,562

15,694
8,432
6,921
33,501
2,941

171
1,534
4,054
110,597
101

40,512
80,558
10,456
67,693
108,198
70,642

40,492
30,515
10,450
66,982
106,933
70,481

9,524
5,819
46
6,317
13,507
7,624

18,664
11,685
620
3,245
20,200
16,088

7,257
24,086
4,743
6,361
57,148
29,124

5,047
38,925
5,041
51,059
16,078
17,645

1,528,650

1,475,436

363,317

285,187

316,230

510,702

1,678
11,407
13,587
12,343
24,154

1,673
11,395
13,230
12,343
24,154

1,668
5,824
2,948
12,103
1,565

1,172
403

3,638
7,247
240
19,532

39,415
1,679,938
6,021
90,952
6,600

39,415
1,638,484
6,021
90,912
6,600

4,873
597,591
39
77,420
2,468

4,589
18,178

25,864
885,080

3,215
501

4,089
137,635
5,409
1,499
2,608

Thailand
Other Asia

29,746
93,065

29,746
92,649

10,174
59,922

33
4,072

3,764
23,303

15,775
5,352

416

334

Total Asia

2,008,906

1,966,622

776,595

32,172

208,969

948,886

42,284

42,078

34,593
3,633
11,471
23,598
43,578

31,083
3,633
9,824
23,439
43,080

1,816

3,149

11,005

3,510

1,196

438
15,758
1,900

1,647
159
498

1,564
159
276

116,873

Yugoslavia
Other Europe.

.

Total Europe...

Cuba
Dominican Republic
Guatemala

Total Latin America.

j;05,329

1

7
34

32

19

1
25
2,393

940

20
43

21

6
711
1,265
161

17
941
loe

53,2M

49,932

Asia:

China Mainland
Hong Kong
India
Indonesia,
Iran
Israel
Japan
Korea, Republic of.
Philippines
Taiwan

5

5

5

761

12

2,632

357

12
328

41,454

41,359

40

40

3,048

573
8,778
1,023

Other countries:
Austra lia
Congo, Republic of the
South Africa
United Arab Republic (Egypt).
All Other.
Total other coxintries.
International .
Grand total

i/

301
6,277
8,675

154
15,917

15,113
1,406
8,857
1,250
16,588

111,059

19,296

19,448

43,214

29,101

5,814

3,195

43

43

43

4,758,641

4,295,172

1,318,382

534,247

697,609

1,744,934

463,469

310,463

2,227

Excludes convertible foreign currencies held by U. S. monetary authorities.

228

Treasury Bulletin

96
CAPITAL MOVEMENTS

Section III
Table 3.-

]

-

.

Preliminary Details by Countries

.

I

August 1962

97

FOREIGN CURRENCIES ACQUIRED BY THE UNITED STATES WITHOUT PURCHASE WITH DOLLARS
Torelgn currencies reported herein In United States

1953.

Into Treasury custody, and the flow of future collec-

dollar equivalents were acquired without purchase with

tions through Treasury accounts; and established require-

In connection with foreign
for the most part
assistance and agricultural trade development prograaie
authorized by various provisions of law. The currencies

ments with respect to withdrawals from Treasury accounts;

are held In the custody of the Treasury Department until

such time as they are either sold for dollars to Govern-

Department Circular No. 93^ as revised October 20, 1961,
added certain requirements governing foreign currency re-

ment agencies or transferred to Government agencies for

porting and accounting.

dollars,

limitations on purchases and amounts of holdings; the use
of foreign depositaries; and accounting for the currencies.

expenditure without charge to appropriations, as specifically authorized by law.

Figures are stated In dollar equivalents,

for reporting purposes,

computed

to provide a common denominator

Prior to July 1, 195?. foreign currencies acquired
by Government agencies without payment of dollars were

It should not be assumed that dollars,

avp.llable to the collecting agencies to defray operating

the balances,

for the currencies of the many foreign countries Involved.
In amounts equal to

are actuailly available for the general use

expenses and were not subject to the regular appropriation

of the United States Government,

processes.

rencies are Inconvertible and restricted as to uses by the

The act of July 15, 1952, Sec. 14-15 (66 Stat. 662),
provided that after June "^O, 1953. United States agencies

eign governments.

since most of the cur-

terms of agreements between the United States and the for-

The tables exclude the counterpart funds owned by and

could no longer expend foreign currencies belonging to the

United States except as provided annually In appropriation

held In accounts of the foreign governments.

acts. Subsequent legislation required executive departments

such funds Is subject to approval of the United States,

and agencies, with certain exceptions,

transactions therein are included in reports of the Agency

to reimburse the

Treasury In dollars for the foreign currencies used.

Ex-

ecutive Orders No. IQl+SS dated September 2}, 1953, ^^^
No. 10900 dated January 5. 19^1. as amended, provided for
the Issuance of regulations by the Secretary of the Treas

—

for International Development.

Accordingly, Treasury Department Circular No. 930 was
Issued on October 19, 1953, effective December 1, 1953These regulations provided for the transfer of department

and agency foreign currency balances as of November 30.

and

The tables also exclude

the United States purchases of foreign currencies which
are under dollar accountability and reported as dollar

transactions.

ury governing the purchase, custody, transfer, or sale of

foreign exchange by the United States.

The use of

Detailed data, by account, agency, program, foreign
country, unite of currency, and related dollar equivalents,

are published annually in the Combined Statement of Receipts, Expenditures and Balances, beginning with fiscal

1952.

)

Treasury Bulletin

36
.

FOREIGN CURRENCIES ACQUIRED BY THE UNITED STATES WITHOUT PURCHASE WITH DOLLARS

Table 1.- Transactions and Balances in Treasury Accounts
(stated In allllona of dollar equi-valent

Fiscal years

1954 1/

25.1 2/

Opening balances
Collections:
Public Law «80 program 2/
Uutvul secvirlty acts:
Assistance programs
Counterpart funds a/
Lend-lease and surplus property.
Trust deposits
All other

1955

165.4

57.3

388.9
52.5
21.9
8.7
40.0

208.1
212.4
15.1
41.1
46.4

V

569.4

Total collections

523.1

Total funds

548.2

734. -8

184.3
155.7
11.3
9.2
22.4

408.2
68.2
31.6
8.6
53.6

^

382.8

570.3

Analysis of withdrawals:
Sales for dollars
Program use
Valuation sdjuotments

247.1
135.6

Withdrawals:
Public Law 480 program j/
Mutual security acts:
Assistance programs
Counterpart funds
Lend-lease and surplus property
Tmat funds
All other

^

Total withdrawals

Total withdrawals
Closing balances
Footnotes at end of Table 2.

.2

382.8
165.,

August 1962

99
.OTMOLATIVE TABIiE OF CONTEFTTS.

September 1961 through August 1962
Issue and page number
1962

1961
Sept.

Reporting bases

Oct.

II

Articles:
Treasury financing operations

A-1

A-1

1

Summary of Federal fiscal operations

1

9
9
10
11

9
10
11

13

13

15

15

16

16

16
17
17

16

18

18

15

15

20
21

20
21

22
22
23

22
22
23

23
2U
25

23

26

26

27

27

Budget receipts and expenditures:
Receipts by principal sources
Detail of miscellaneous receipts by major categories
Expenditures by agencies
Interfund transactions excluded from both net budget receipts
and budget expenditures
Summary of appropriations and authorizations, expenditures, and
balances, by agencies
Expenditures and balances by functions
Trust account and other transactions:
Siunmary of trust account and other transactions
Trust account receipts
Trust and deposit fund account expenditures
Net investment by Government agencies in public debt securities....
Net redemption or sale of obligations of Government agencies in
the market
Intertrust fund transactions excluded from both net trust account
receipts and net trust account expenditures
Federal Old-Age and Survivors Insurance Trust Fund
Federal Disability Insurance Trust Fund
Railroad Retirement Account
Unemployment Trust Fund
National Service Life Insurance Fund
Investments of specified trust accounts in public debt securities,
by issues (latest date June 30, 1962)
Cash income and outgo:
Summary of Federal Government cash transactions with the public...
Derivation of Federal receipts from the public, and reconciliation
to cash deposits in Treasurer s account
Derivation of Federal payments to the public, and reconciliation
to cash withdrawals from Treasurer s account
Intra governmental transactions
Accrued interest and other noncash expenditures
Derivation of Federal net cash debt transactions with the public,
and reconciliation to transactions through Treasurer's account.,..
Summary of cash transactions through Treasurer s account
'

'

'

Account of the Treasurer of the United States:
Status of the account of the Treasurer of the United States
Analysis of changes in tax and loan account balances
Debt outstanding:
Summary of Federal securities
Computed interest charge and rate on Federal securities
Interest-bearing public debt
Average length and maturity distribution of marketable
interest-bearing public debt
Special public debt issues to U. S. Government investment accounts.
Treasury holdings of securities issued by Government agencies
Interest-bearing securities issued by Federal agencies but not
guaranteed by the U. S Government
.

Statutory debt limitation
Public debt operations:
Maturity schedule of interest-bearing public marketable securities
other than regular weekly Treasury bills
Offerings of Treasury bills
New money financing through regular weekly Treasury bills
Offerings of public marketable securities other than regular
weekly Treasury bills
Allotments by investor classes on subscriptions for public
marketable securities other them regular weekly Treasury bills..,.
Disposition of matured public marketable securities other than
regular weekly Treasury bills
United States savings bonds:
Cumulative sales and redemptions by series
Sales and redemptions by periods, all series combined
Sales and redemptions by periods. Series E through K
Redemptions of matured and unmatured bonds
Sales and redemptions by denominations. Series E and H combined,...
Sales by States , Series E and H combined

28
30
32

9

17
17

2/V

25

Dec.

Jan,

Feb.

Mar.

Apr.

May-

June

July

)

Treasury Bulletin

100
CTMDLATIVE TABLE OF COBTEWTS.

September 1961 through August 1962

(Continued)

-

Issue and page number
1962

1961
Sept,

Ownership of Federal geeurltlea:
Distribution by claaoes of Investors and types of issues
Net market purchases or sales for Investment accounts handled by
the Treasury
Estiiiated ownership
Treasury survey of ownership of Federal securities:
Ownership by banks, Insurance companies, and others
Ownership b^ coanerclal banks classified by membership in Federal
Reserve System (latest date June 30, 1962)

52

Dec.

Oct.

52

58

53

53

55

55

62

56
56
57

52
53

58
59

53

54

53
54

61
62

55
56

55
56

5i

54

60

55

55

63

57

57

64

58

69

58

60

68
70

61

Average yields of long-term bonds:
Average yields of Treasury and corporate bonds by periods
Chart - Average yields of Treasury and corporate bonds

65
66

61
62

71
72

67
68

63

73
74

58

64

71
72
72
73
74

59
63

73
75

61
63

61
63

68
70

62
64

62
63

64

76
77

64

65

64
65

71
72

65
66

64

66
67

78
79

66
67

66
67
68

73

74

67
68

69
70
70
71
72

75
76
76
77
78

59

65

65
66
66

67
68

75

76
76
77
78

68
69
69
70
71

65

'68

'66

'69

68
69
69
70
71

81
81
82
83

70
71
71
72
73

78

83

84

'74

85

71
72
72
73
74

73

'85

'69

72

79
79
80
80

Exchange Stabilization Fund (latest date March 31. 1962):
Balance sheet
Foreign exchange transactions
U. S, stabilization agreements
Income and expense

74

National bank reports:
Earnings, expenses, and dividends for calendar years 1957-61
International financial statistics:
U. S. gold stock, and holdings of convertible foreign currencies
by U. S. Bonetary authorities

June

52
53

62
6A

Monetary statistics:
Money in circulation
Monetary stocks of gold and silver
Gold assets and liabilities of the Treasury
Components of silver monetary stock
Seigniorage
Increment from reduction in weight of gold dollar (latest date
June 30, 1962)

61

May

62
63

Market quotations:
End-of -month closing quotations on Treasury securities by Issues
Chart - Yields of Treasury securities

Internal revenue collections:
Sunmary by principal sources
Chart - Internal revenue collections by principal sources
Su««ary by States, calendar year 1%1
Detail of excise tax collections

Apr .

Jan.

75

75

69

76
79
83
84

70
73
77
78

82
85
89
90

85

79
80

91

86

81

74

75

79

76

75
78
82
83

76
79
83
84

80
83

87
88

77
80
84
85

84

85
86

89

86

Capital moveaents between the United States and foreign countries:

Sumoary by countries and periods
Short-term banking liabilities to foreigners, latest month
Short-term banking claims on foreigners, latest month
Purchases and sales of long-term securities by foreigners,
latest month
Short-term llabllitiea and claims reported by nonflnanclal concerns
Long-term liabilities and claljns reported by banks and bankers
Estimated gold and short-term dollar resources of foreign countries
and international institutions
Foreign credit and debit balances in brokerage accounts
Short-term liabilities, countries and areas not regularly reported.
Purchases and sales of long-term securities by foreigners during
calendar year 1961

73
76
80
81

73
76

80
81

87
90
94
95

82

82

96

83
'83

87
88

'85

84

86
87
88
90

Foreign currencies acquired by the U. S. without purchase with
dollars:
Transactions and balances in Treasury accounts
Transactions and balances in agency accounts

Corporations
Statements
Income and
Source and

and certain other business-type activities:
of financial condition (latest date March 31 , 1962
expense (latest date December 31, 1%1)
application of funds (latest date December 31, 1961)....

92
92

98
98

100

86

86
107

90

90
89
109

TREASURY DEPARTMENT

POSTAGE AND FEES PAID
U.S. TREASURY DEPARTMENT

FISCAL SERVICE. BUREAU OF ACCOUNTS
OFFICE OF THE COMMISSIONER

WASHINGTON

25, D.C.

OFFICIAL BUSINESS

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AND
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