Full text of Treasury Bulletin : August 1975

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1976

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•

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August 1975

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The Treasury Bulletin

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Treasury Bulletin
August 1975

DEPARTMENT OF THE TREASURY
WASHINGTON,

OFFICE OF THE SECRETARY
D.C.

ff]

I

August 1973

CONTENTS

•

Treasury Financing Operations

y

FEDERAL FISCAL OPERATIONS
•

Summary of Fiscal Operations

•

Budget Receipts by Soxirce

3

•

Budget Receipts by Source

5

•

Budget Outlays by Agency

£,

Undistributed Offsetting Receipts

7

•

•

1

Budget Outlays by Fvinction

8

Investment Transactions of Government Accounts in Federal Securities (Net)

10

Trust Funds Transactions

11

Selected Accrual Data Reported by Federal Agencies

12

FEDERAL OBLIGATIONS
Gross Obligations Incurred Within and Outside the Federal Government by Object Glass..,

K

Gross Obligations Incurred Outside the Federal Government by Major Function and Major
Object Class

I4

Gross Obligations Incurred Outside the Federal Government by Department or Agency

15

Gross Obligations Incurred Outside the Federal Government, Comparative Statement
by Months

2.6

ACCOUNT OF THE

U.S. TREASURY

Status of the Account of the U.S. Treasury

17

Analysis of Changes in Tax and Loan Account Balances
Gold Assets and Liabilities of the Treasury

18
„

19

MONETARY STATISTICS
Money in Circiilation

20

FEDERAL DEBT
Summary of Federal Debt

21

Computed Interest Charge and Computed Interest Rate on Interest-Bearing Public Debt....

21

Interest -Bearing Public Debt

22

Maturity Distribution and Average Length of Marketable Interest-Bearing Public Debt....

22

Government Account Series

23

Interest-Bearing Securities Issued by Government Agencies

2A

Participation Certificates

25

Debt Subject to Statutory Limitation

26

Status and Application of Statutory Limitation

27

Treasury Holdings of Securities

28

//

PDO-l

Treasury Bulletin

August 1975

III

CONTENTS

AVERAGE YIELDS OF LONG-TERM BONDS
AY-l.

-

Average Yields of Long-Term Treasury, Corporate, and Municipal Bonds

88

Chart

-

Average Yields of Long-Term Treasury, Corporate, and Municipal Bonds

89

INTERNATIONAL FINANCIAL STATISTICS
IFS-l,

- U.S.

IFS-2.

- U.S.

IFS-3.

- U.S.

IFS-4.

-

IFS-5

- U.S.

.

-

IFS-6.

Reserve Assets

90

Liquid and Nonliquid Liabilities to Foreign Official Institutions, and Liquid
Liabilities to All Other Foreigners

91

Liquid and Nonliquid Liabilities to Official Institutions of Foreign Countries,
by Area

92

Nonmarketable U.S. Treasury Bonds and Notes

93

Position in the International Monetary Fund

9-4

Weighted-Average of Exchange Rate Changes for the Dollar

95

CAPITAL MOVEMENTS
LIABILITIES TO FOREIGNERS REPORTED BY BANKS

-

U.S.

ClvH-1.

-

Shor1>Term Liabilities by Type of Foreign Holder

CM- 1-2.

-

Short-Term Liabilities by Type of Liability

CM- 1-3.

-

Short-Term Liabilities by Country

CM-I-/4.

-

Short-Term Liabilities, by Type and Country

CM- 1-5.

-

Short-Term Liabilities, Not Regularly

CM- 1-6.

-

Long-Term Liabilities by Type

10^

CM- 1-7.

-

Long-Term Liabilities by Country

105

98
99

101

R-^

102

.orted Separately

CLAIMS ON FOREIGNERS REPORTED BY BANKS

-

103

U.S.

CKHI-1.

-

ShorV Term Claims by Type

106

CM-II-2,

-

Short-Term Claims by Country

107

CM-II-3

- Short-Term Claims

.

,

108

by Type and Country

CM-II-4-.

-

Long-Term Claims by Type

109

CM-II-5.

-

Long-Term Claims by Country

110

CM-II-6.

-

Long-Term Claims, by Type and Country
LIABILITIES TO FOREIGNERS REPORTED BY NONBANKING CONCERNS

CWmi-l.

-

Liabilities by Type

Ill
- U.S.

112

CM-III-2. - Short-Term Liabilities by Country

113

CM-III-3. - ShorVTerm Liabilities, by Type and Coxmtry

11<+

CM-III-4.. - Long-Term Liabilities by Country

115

CLAIMS ON FOREIGNERS REPORTED BY NONBANKING CONCERNS - U.S.
CM-IV-1,

-

Claims by Type

II6

CM-IV-2.

-

Short-Term Claims by Country

11'7

CM-IV-3.

-

Short-Term Claims, by Type and Covmtry

118

IV

Treasury Bulletin

CONTENTS
Liquid Claims Reported by Large Nonbanking Concerns, by Type

119
119

-

Short-Term Liquid Claims Reported by Large Nonbanking Concerns by Coiintry
Short-Term Liquid Claims Reported by Large Nonbanking Concerns, by Type and Country

-

Long-Term Claims by Country

121

CM-IV-4.

- Shor-t^Term

CM- IV- 5.

-

CJit-IV-e.

Ci^lV-7.

12O

mANSACTIONS IN LONG-TERM SECURITIES BY FOREIGNERS
-

Foreign Purchases and Sales of Long-Term Domestic Securities

122

Cit.V-2,

-

Foreign Purchases and Sales of Long-Term Foreign Securities

122

CJi-V-3.

- Net

CM-V-/i.

-

Estimated Foreign Holdings of Marketable U.S. Treasury Bonds and Notes by Country

124

CM-V-5.

-

Net Foreign Transactions in Long-Term Domestic Bonds

125

CM-V-6.

- Net

CM-V-7.

-

CM-V-8.

- Net

CM-V-1.

CM-V-9

.

CM-V-10.

Foreign Transactions in Marketable U.S. Treasury Bonds and Notes by Country

Foreign Transactions in Domestic Stocks by Country

Net Foreign Transactions in Long-Term Foreign Bonds by Country

Foreign Transactions in Foreign Stocks by Country

123

126
127
128

-

Foreign Purchases and Sales of Long-Term Securities, Latest Date

129

-

Foreign Purchases and Sales of Long-Term Securities, Latest Year

130

FOREIGN CREDIT AND DEBIT BALANCES IN BROKERAGE ACCOUNTS

Foreign Credit Balances (Due to Foreigners)

CM-VI-1.

-

CM-VI-2.

- Foreign Debit Balances (Due from Foreigners)

131
132

FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS
GOVERNMENT CORPORATIONS AND OTHER BUSINESS- TYPE ACTIVITIES
FEDERAL CREDIT PROGRAMS
GA-II-1

-

.

Direct Sales and Repurchases of Loans

133

TRUST FUNDS
Retirement and Disability Fund

GA-III-1.

- Civil Service

GA-III-2

- Federal Old-Age and Survivors Insurance Trust Fund

.

Disability Insurance Trust Fund

134
135

GA-III-3.

- Federal

GA-III-4.

- Federal Hospital Insurance Trust Fund

GA-III-5.

- Federal

GA-III-6,

- Railroad Retirement Accounts

GA-III-7.

-

GA-III-8

- National Service Life Insurance Fund

141

- Investments of Specified Trust Accounts in Public Debt Securities and Agency Securities.

142

.

GA-III-9.

Supplementary Medical Insurance Trust Fund

Unemployment Trust Fund

Cumulative Table of Contents

Note:

Details of figures may not add to totals because of rounding.

136
137

138
138
139

143

August 1973

Treasury Financing Operations

Auction of 2-Year Notes

On July 10 the Treasury announced that

it

would sell to

the public at auction, under competitive and noncompetitive

bidding,

up to $1.5 billion of Treasury Notes of Series K-

1977, to be dated July 31, 1975, due July 31, 1977, with in-

terest payable semiannually on January 31 and July 31 in each

year until maturity.

A coupon rate of l-\/2% was set after

the determination as to which tenders were accepted on a yield

the average of which

basis,

produced a price of 100.000 or

less.

notes were received

unitl 1:30 p.m.,

and totaled $5.4 billion from the public of

EDST, July 17,

which $1.5 billion was accepted at yields ranging from 7.49^,
price 100. 018, up to 7.53^, price 99.945.
ders for $500,000 or less

Noncompetitive ten-

from the public were accepted in

full at the average yield of accepted tenders, 7.52!?, price

These totaled $0.3 billion.

99.963.

Tenders

were received

at Federal

notes of Series F-1978

Tenders for the

were received

until 1:30 p.m., EDST, July 29, and totaled $5. 6 billion from
the public of which $3.0 billion was accepted at yields ranging from 7.755S,

up to 7.97%, price 99.695.

price 100.233,

Noncompetitive tenders for $500,000 or less were accepted in

Bearer notes,

99.768.

These totaled $0.9 billion.

Tenders for

the notes of

Series B-1982 were received

until 1:30 p.m., EDST, July 30, and totaled $3.7 billion of

which $2.0 billion

was accepted

from the public at yields

ranging from 8.06%, price 100.343, upto 8.18%, price 99.711.

Noncompetitive tenders for $500,000 or less were accepted in
full at the average yield of accepted tenders, 8.14%, price

Reserve

branches and at the Bureau of the Public Debt,
C.

15 until maturity.

full at the average yield of accepted tenders, 7.94%, price

Tenders for the

D.

date on and after August 15, 1995,

on any interest payment

with interest payable semiannually on February 15 and August

banks and

99.921.

These totaled $0.3 billion.

Washington,

with interest coupons attached,

and

notes registered as to principal and interest were authorized

to be issued in denominations of $5,000, $10,000, $100,000,

Tenders for
EDST, July 31,

lion was

the bonds were

received until 1:30 p.m.,

and totaled $2.0 billion of which $0.8 bil-

accepted from

the public at yields ranging

8.38%, price 99.948, up to 8.48%, price 98.917.

and $1,000,000.

from

Noncompet-

itive tenders for $500,000 or less were accepted in full at

August Refunding

the average yield of accepted tenders, 8.44%, price 99.327.

On July 23 the Treasury announced that it would sell to

These totaled $41 million.

the public at auction, under competitive and noneorapetltive

bidding,

up to $3.0 billion of Treasury Notes of Series F-

1978, up to $2.0 billion of Trea'sury Notes of Series B-1982,
and up to $0.8 billion of Treasury Bonds of 1995-2000.

These

issues were to refund $4.8 billion of publicly held Treasury

securities maturing August 15.

Coupon rates of 7-7/8^ on the

notes of Series F-1978, 8-1/85? on the notes of Series B-1982,

In addition to the amounts allotted to the public, $1.4

billion of the notes of Series F-1978,
notes of Series B-1982

allotted

$0.9 billion of the

and $0.3 billion

of the bonds were

prices to Government accounts and

at the average

Federal Reserve banks for themselves

and as agents of for-

eign and international monetary authorities.

and 8-3/8;? on the bonds were set after the determinations as

Payment for accepted tenders in all three auctions was

to which tenders were accepted on a yield basis, the average

required to be made or completed on or before August 15, 1975,

of which produced a price of 100.000 or less.

in cash or 5-7/8 percent

The notes of Series F-1978 will be dated August 15, 1975,
due May 15, 1978, with interest payable semiannually on May 15
and November 15 until maturity.

The notes of Series B-1982

Treasury Notes of

which were to be accepted at par, or other funds immediately
available to the Treasury by that date.

Tenders were received in all three auctions at Federal

will be dated August 15, 1975, due August 15, 1982, with in-

Reserve banks and branches

terest payable semiannually on February 15 and August 15 un-

Debt, Washington, D. C.

til maturity.

The bonds will be dated August 15, 1975, due

August 15, 2000, callable at the option of the United States

Series C-1975,

est coupons attached,

and at the Bureau of the Public

Bearer notes and bonds, with interand notes and bonds registered as to

principal and Interest were authorized to be Issued in denom-

VI

Treasury Bulletin

Treasury Financing Operations— Continued

inat ions of $5,000, $10,000, $100,000, and $1,000,000 in the

case of the notes of Series F-1978, and in denominations of
$1,000, $5,000, $10,000, $100,000, and $1,000,000 in the case
of the notes of Series B-1982 and the bonds of 1995-2000.

52-Week Bills
On July 16 tenders were invited from the public for $1,.410

million, or thereabouts, of 364 -day Treasury bills to be dated

July 29, 1975, and to mature July 27, 1976.

penedonJuly

2A.

Tenders were o-

They totaled $3,710 million from the public,

of which $1,411 million

was accepted including $79 million

of noncompetitive tenders.

An additional $882 million of

the bills were issued at the average price to Government ac-

counts and Federal Reserve banks

for themselves and as a-

gents of foreign and international monetary authorities.
average bank discount rate was 6.782 percent.

The

The issue was

to raise cash and to refund $1,806 million of bills maturing

July 29.

13-Week and 26-Week Bills
Issues of regular weekly Treasury bills in July totaled

$28.3 billion.
change for

These issues were of fered for cash and in ex-

bills maturing

in the amount of $24.7 billion.

There were three 13-week issues of $2.8 billion and one 13-

week issue each of $2.7 billion and $2.9 billion.

There were

four 26-week issues of $2.9 billion and one 26-week issue of

$2.7 billion.

Average rates forthe new issues are shown in

the following table.

August 1975
.FEDERAL FISCAL OPERATIONS,^
Table FFO-1.

-

Summary

of Fiscal Operations

(In millions of dollars)

Treasury Bulletin
.FEDERAL FISCAL OPERATIONS^

Footnotes to Table FFO-1.

Source:
Monthly Statement of Receipts and Outlays of the U.S. Government.
Revised Budget estimates based on the Mid-Session review of the
1976 Budget, released May 30, 1975, are not available in the necessary
detail, except for the total Net Budget receipts, outlays, and deficit.
Budget estimates are based on the 1976 Budget of the U.S. Government,
released Feb. 3, 1975, the latest available.
1/ For detail see Table FFO-2.
2/ For detail see Table FFO-3.
2/ As of July 31, 197.;, public debt outstanding has been adjusted to exclude the notes of the International Monetary Fund to conform with
the budget presentation.
For
detail see Table FFO-6.
i/
5/ Current fiscal year to date transactions through June 30, 197.4, are
on the Daily Statement of the U.S. Treasury clearance date basis and
are converted to accounting date basis at June 30 (final) only.
Prior fiscal year amounts include transactions in transit as of June
For amounts in transit see Table FFO-IO in the October 1974
30.
Bulletin.
6/ As of July 1974, balances shown under "Within general account of the
U.S. Treasury" are now presented in columns 9, 11, and 13.

2/
8/

2/

10/

11/
i.a.

P

Represents holdings of special drawing rights, less certificates
issued to Federal Reserve banks.
Represents activity of the International Monetary Fund.
Includes: public debt accrued interest payable to the public, deposit
funds, miscellaneous asset and liability accounts, and as of July
1974, the gold balance.
Includes:
Seigniorage; increment of gold; fiscal 1969 conversion of
certain corporations to private ownership; fiscal 1970 reclassification
of Commodity Credit Corporation certificates of interest; fiscal 1974
conversion of interest receipts of Government accounts to an accrual
basis; and net outlays of off -budget Federal agencies (Export -Import
Banls since August 17, 1971, rural electrification and telephone revolving f\ind since May 12, 1973, Postal Service fund since July 1973,
Federal Financing Bank since July 1974, housing for the elderly or
handicapped fund since August 22, 1974, and Pension Benefit Guaranty
Corporation since September 17, 1974).
For detail, see Table FD-6.
Revised.
Not available.
Preliminary.

..
.
.

August 1975
.FEDERAL FISCAL OPERATIONS.
Table FFO-2.

-

Budget Receipts by Source

(In millions of dollars)
Income taxes

Fiscal year
or month

Net
budget
receipts

Corporation
Withheld 1/

Other

1975p

130 856
149 ,552
153 671
187 784
193 743
188 392
208 649
232 225
264 932
280 921

42,811
50,521
57,301
70,182
77,416
76,490
83,200
98,093
112,092
122,036

18,486
18,850
20,951
27,258
26,236
24,262
25,679
27 ,.019
30,812
34,299

1976 (Est.)

298,993

119,124

33,881

1966
1967
1968
1969
1970
1971
1972
1973
1974

1974-June .

Net
income
taxes

Re funds

34,0U

55,446
61,526
68,726
87,249
90,412
86,230
94,737
103,246
118,952
122,322

30,834
34,918
29,897
38,338
35,037
30,320
34,926
39,045
41,744
45,746

761
946
1,232
1,660
2,208
3,535
2,760
2,893
3,125
5,120

30,073
33,971
28,665
36,678
32,829
26,785
32,166
36,153
38,620
40,627

85,519
95,497
97,390
123,927
123,241
113,015
126,903
139,398
157,571
162,949

31,680

121,325

41,800

4,000

37,800

159,125

5,851
7,845
9,527
10,191
13,240
14,522

U,U3
21,866
23,952

31,259

10,616r

4,077

462

14,231

9,269

237

9,033

23,264r

July..
Aug...
Sept .
Oct..
Nov.
Dec...

20,939
23,620
28,377
19,633
22,292
24,946

10,227
10,223
9,755
10,106
10,638
10,428

957
491
4,323
561
305
461

378
229
130

10,806
10,485
13,947
10,590
10,832
10,799

1,796
1,084
6,082
1,717
1,111
6,458

310
256
435
511
314
190

1,485
828
5,647
1,206
797
6,268

12,291
11,313
19,594
11,795

1975- Jan...
Feb .
Mar...
Apr. .
May...

25,020
19,975
20,134
31,451
12,793
31,741

10,253
10,964
9,624
9,558
10,300
9,960

5,366
1,046
2,661
12,766
819
4,543

,132

15,487
7,747
4,134
16,065
-1,630
13,059

1,745
1,275
7,228
5,819
1,192
10,241

557
496
649
726
18
658

1,188
778
6,579
5,093
1,174
9,583

16,676
8,525
10,713
21,159
-456
22,642

,

.

J\ine

p

78
111
90

4,264
8,152
6,258
12,749 2/
1,445

n,629
17,067

r

.
.
.

4

Treasury Bulletin
.FEDERAL FISCAL OPERATIONS.
Table FFO-2.

-

Budget Receipts by Source-Continued
(In millions of dollars}

Social insurance taxes and contributions

Fiscal year
or month

Continued

insxirance

Federal
employees
retirement

taxes and
contributions

Other
retirement

647
698
903
936
1,253
1,340
1,427
1,704
1,899

1,111
1,201
1,334
1,426
1,735
1,916
2,058
2,146
2,302
2,509

18
19
20
24
29
37
39
41
45
52

1,129
1,867
2,052
2,353
2,701
3,207
3,437
3,614
4,051
4,461

•25,567
33,349
34,622
39,918

1976 (Est.)..

1,977

2,576

50

4,603

July
Aug

Sept
Oct
Nov .
Dec

. .

.

.

.

.

.

.

1975-Jan
Feb
Mar . ,
Apr , .
May .
June
.

.

.

.
.

.

p.

Airport and airway trust fund

Net
social

1966
1967
1968
1969
1970
1971
1972
1973
1974
1975p

1974-Jujie

Excise taxes

Miscellaneous

Contributions for other
insurance and retirement

Federal
supplementary
medical
insurance

-

45,298
48,578
53,914
64,542
76,780
86,429

9,362
4,461
9 827
10,681
10,519
10,643
10,562
9,995
9,884
9,541

217
183
127
96
167
133
1,056
158
141
150

9,145
9,278
9,700
10,585
10,352
10,510
9,506
9,836
9,743
9,391

564
650
760
842
964

563
649
758
840
962

90, 933

22,344

144

22,200

1,009

1,007

,

145

184

332

5,385r

877

10

866

160
153
154
154
158
154

195
212
232
201
192
200

358
368
389
363
353
356

5,781
9,544
6,120
5,142
7,748
5,441

958
707
895
870
827
930

14

945

76

14

693

9
15

886
856
815
914

78
79
71
82
86

W7

250
173
208
220
192
235

402
352
373
388
350
407

5,674
3,979
6^870
8,126
10,588
6,419

864
791
473
675
665
886

12
7

174
160
162
155
166

13

16

26
1

24

851
784
447
674
665
862

74

80
102
83
78
64

76
78
79
71
81
86
102
83

77
64
86

August 1975
.FEDERAL FISCAL OPERATIONS.

1

1

Treasury Bulletin
.FEDERAL FISCAL OPERATIONS^
Table FFO-3.

-

Budget Outlays by Agency

August 1973
.FEDERAL FISCAL OPERATIONS^
Table FFO-4.

-

Undistributed Offsetting Receipts
(In ndllions of dollars)

8

Treasury Bulletin
.FEDERAL FISCAL OPERATIONS^

t^

O

e
O

sh
QJ

O

o
u
3

CO

3

o

an

n

3

03

O
Cm

cd

13 ^^

0)

i-hI

(0

-

--

Cl.<^

I

o

iH

August 1975
FEDERAL FISCAL OPERATIONS

-7
<;:ji

T3

V
3
C

-*^

C

o

O
I

c
o
u

c
3
bi
>,

x>

3

o
-*^

a>

bo
T3

3

O
it,

3

24,603

-2,523

10

Treasury Bulletin
.FEDERAL FISCAL OPERATIONS^
Table FFO-6.

-

Investment Transactions of Government Accounts

in

Federal Securities (Net)

August 1975

11

.FEDERAL FISCAL OPERATIONS.

w

12

Treasury Bulletin
.FEDERAL FISCAL OPERATIONS.
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.

August 1973

13

_FEDERAL OBLIGATIONS.

"Obligations"

axe

the basis on which the use of funds

is controlled in the Federal Government.

They axe recorded

at the point at which the Government makes a firm commitment
to

goods or services and are the first of the four

acquire

key events

— order,

delivery,

payment,

consumption

characterize the acquisition and use of resources.

— which

of categories which are based upon the nature of the transaction without regard to its ultimate purpose.
for salaries

and wages, for example,

are

All payments

reported as per-

sonnel compensation, whether the personal services are used
in current operations or in the construction of capital items

In gen-

eral, they consist of orders placed, contracts awarded, ser-

Federal

agencies

and firms often do business with one

vices received, and similar transactions requiring the dis-

another; in doing so, the "buying" agency records obligations,

bursement of money.

and the "performing" agency records reimbiirsements

.

In Table

FO-1, obligations that are incurred within the Government are

The obligational stage of Government transactions is a

strategic point

in

gauging the

impact of the Government's

distinguished from those incurred outside

the

Government.

Tables FO-2, 3, and k show only those incurred outside.

operations on the national economy, since it frequently represents

for

business firms the Government commitment which

stimulates business investment, including inventory purchases

and employment of labor.

Disbursements

may not occur for

Obligation data for the administrative budget fund accounts were

published in the September 1967 Treasury

Bulletin and the trust fund accounts were first published in
the October

months

first

I967

Bulletin.

Beginning with the April I968

after the Government places its order but the order
Bulletin, the data axe

itself usually causes

inniediate

pressure on

the

on

the basis of the budget concepts

private
adopted pursuant

to

the recommendations of the President's

economy.

Obligations

are

classified according to a uniform set

Commission on Budget Concepts.

)

Treasury Bulletin

14
.FEDERAL OBUGATIONS.
Table FO-1.

-

Gross Obligations Incurred Within and Outside the Federal Government by
Object Class,

March

31,

1975

(In millions of dollars)

Gross obligations incurred

Object class

Within

Personal services and benefits
Personnel compensation
Personnel benef i ts
Benefits for former personnel.

32,776
2,438
6,488

Contractual services and supplies
Travel and transportation of persons.
Transportation of things
Rent, cornmunications, and utilities..
Printing and reproduction
Other services
Supplies and materials

1,126
1,585
2,083
389
22,147
17,838

374
1,195
1,468
281
9,700
8,304

1,500
2,780
3,551
670
31,847
26,142

Acquisition of capital assets
Equipment
Lands and structures
Investments and loans

11,541
3,196
17,399

3,533
417
171

15,074
3,614
17,569

Grants and fixed charges
Grants, subsidies, and contributions.
Insurance claims and indemnities
Interest and dividends
Refunds

48,858
75,312
20,908
794

36
38
7,768

48,894
75,349
28,677
794

145

581
757

726
5,913
61

37,443

307,683

.'

Other
Undistributed U.S. obligations.
Obligations incurred abroad....
Unvouchered

5,156
61

270,241

Gross obligations incurred l/.
Source:
Reports on Obligations, Standard Form 225, from agencies.
1/ For Federal Budget presentation a concept of "net obligations
incurred" is generally xjsed. This concept eliminates transactions
within the Government and revenue and reimbursements from the public
which by statute !rfiy be used by Government agencies without appropriation action by the Congress. Summary figures on this basis
{This data is on the basis of Reports on Obligations
follow.
received from the agencies prior to reports submitted for Budget

Table FO-2.

32,776
5,258
6,488

-

presentation and therefore may differ somewhat from the Budget
document.
Gross obligations incurred (as above)
Deduct:
Advances, reimbursements, other income, etc.
Offsetting receipts
Net obligations incurred.

307,683
-54,293
-?5,028
228.362

Gross Obligations Incurred Outside the Federal Government by Major Function

and Major Object Class, March

31, 1975

August 1975

13

.FEDERAL OBUGATIONS.

Treasury Bulletin

16
.FEDERAL OBUGATIONS.

c
s
s
u
0)
!>

o

O

Oi

11

August 1975
ACCOUNT OF THE
Source and Availability of the Balance

U.S.

TREASURY

in the

Account of the U.S. Treasury

The working cash of the Treasury is held mainly in

Treasury, banks are permitted to deposit in these accounts

'Treasury's accounts with Federal Reserve banks and branches.

proceeds from subscriptions to public debt securities entered

they are

for their own account as well as for the account of their

As the balances in these accounts become depleted,

restored by calling in (transferring) funds from the tax and
loan accounts with thousands of commercial banks throughout

customers.
The tax and loan account system permits the Treasury to

leave funds in banks and in the communities in which they arise

the country.

Deposits to tax and loan accounts occur in the normal

until such time as the Treasury needs the funds for its operaIn this way the Treasury is able to neutralize the

course of business under a uniform procedure applicable to all

tions.

banks whereby customers of banks deposit with them tax pay-

effect of its fluctuating operations on bank reserves and the

ments and funds for the purchase of Government securities.

econony.

In most cases the transaction involves merely the transfer of

money from a customer's account to the tax and loan account in
tjie

same bank.

On occasions, to the extent authorized by the

Table UST-1.

-

A detailed description of the Treasury's depositary system

may be found in the Annual Report of the Secretary of the

Treasury for 1973, pages 282-285.

Status of the Account of the U.S. Treasury
(In millions of dollars)

18

Treasury Bulletin
.ACCOUNT OF THE
Table UST-2.

-

U.S.

TREASURE

Analysis of Changes in Tax and Loan Account Balances

. .

19

August 1975
ACCOUNT OF THE

Table UST-3.

-

U.S.

TREASURY

Gold Assets and Liabilities of the Treasury
(In millions of dollars except ounces)

Gold assets 1/
Gold liabilities 2/

End of calendar year or month

Oinces

^

Dollars

Balance of gold in
U.S. Treasury account 2/

1973
1974

375,974 ,390.9
342,331 ,278.6
296,199 ,012
296,202 ,494
306,630 ,399
289,490 ,759
273,950 ,419
273,954 ,660.5
273,949 ,698.8

13,159
11,982
10,367
10,367
10,732
10,132
10,410
11,567 2/
11,567

13,041
11,870
10,256
10,256
10,623
10,019
10,303
11,460
11,460

112
109
113
107
107
106

1973-Dec

273,954,660.5

11,567

11,460

107

197A-July.
Aug..
Sept.

273,949,698.8
273,949,977.1
273,948,796.4
273,948,798.0
273,948,663.1
275,968,413.9

11,567
11,567
11,567
11,567
11,567
11,652

11,460
11,460
11,460
11,460
11,460
11,652

106
106
106
106
106

June.

275,564,382.4
275,233,866.2
275,211,722.2
275,211,728.1
275,211,747.5
275,207,393.2

11,635
11,621
11,620
11,620
11,620
11,620

11,635
11,621
11,620
11,620
11,620
11,620

July.

275,173,582.2

11,618

11.618

1966
1967
1968
1969
1970
1971
1972

Oct..
Nov..

Dec
1975-Jan .
Feb..
Mar..
Apr.
May.

.

Source:
Circulation Statement of United States Money through 1965;
Daily Statement of the United States Treasury thereafter.
1/ Consists of: Gold certificates (Series 1934) Issued only to Federal
Reserve banks; gold certificates fund-Federal Reserve System; gold
deposited by and held for the International Monetary Fund from
September 19, 1965 through February 15, 1972; redemption fund for
Federal Reserve notes until March 18, 1968 when it was combined with
the gold certificate fund pursuant to P.L. 90-269, approved March 18,
1968, and gold reserve against U.S. notes until March 18, 1968 when
it was transferred to the public debt also pursuant to P.L. 90-269.
2/ As of December 9, 1974, gold certificates have been issued to the
Federal Reserve against all of the gold owned by the United States
Government. Repeal of the Gold Clause Joint Resolution (31 USC 463)
became effective December 31, 1974. Pursuant to this, bids ranging

V

2/

V

118
112

Ul

from $153 to $185 per ounce were accepted for the deliveiy of 756,862
ounces, to be delivered in January and February 1975. Redemptions
of Gold Certificates have been made to the same extent as deliveries
computed at the official price of $42.22; accordingly, the affirmed
value of Gold Assets and Gold Certificates will agree,
Figures prior t» December 1974 exclude gold held by the Exchange
Stabilization Fund. On December 9, 1974, Treasury acquired all gold
held by the Exchange Stabilization Fund in the amount of 2,019,751
fine troy ounces. See "International Financial Statistics," Table
IFS-1.
Gold assets were valued at $38 per fine troy ounce until October 18,
1973, when they were revalued at $42.22 pursuant to the amending of
Section 2 of the Par Value Modification Act, P.L. 93-110, approved
September 21, 1973. The increment amounted to $1,157 million.

.

..
.

Treasury Bulletin

20
MONETARY STATISTICS
Table MS-1.

-

Money

in Circulation

(In millions of dollars except per capita figures)

Currencies presently
being issued 1/

Currencies no longer issued
End of
fiscal year
or month

1966
1967
1968
1969
1970
1971
1972
1973
1974
1975

Federal
Reserve
bank
notes

National
bank
notes

Gold
certificates 2/

21
21
21
20

64
61
59
57
55
54
53
52
51

20
20
20
20
20
20

50

1973- Dec.

Silver
certificates

Federal
Reserve
notes

Total
currencies

United
States
notes

Federal
Reserve
notes

582
395
225
223
220
218
215
213
212
211

303
300
299
294
297
321
320
320
321
322

37,315
39,289
41,722
44,547
47,626
51,304
54,572
59,664
65,185
72,093

38,290
40,071
42,331
45,146
48,223
51,922
55,184
60,273
65,793
72,700

213

321

64,130

64,738

^

Treasury
notes of
1980

^

1974 -June.

51

20

212

321

65,185

65,793

July.
Aug..
Sept.
Oct..
Nov.

Dec.

51
51
51
51
51
51

20
20
20
20
20
20

212
212
212
212
211
211

321
322
322
322
322
322

65,658
66,165
66,072
67,072
68,893
70,804

66,267
66,773
66,679
67,680
69,501
71,411

1975-Jan..
Feb..
Mar.
Apr.
May..
June.

51
50
50
50
50
50

20
20
20
20
20
20

211
211
211
211
211
211

322
322
322
322
322
322

67,451
67,932
69,115
69,450
70,738
72,093

68,059
68,539
69,723
70,057
71,34?
72,700

End of
fiscal year
or month

Total
money in
circulation Jl/

Fractional
coin

1966
1967
1968
1969
1970
1971
1972
1973
1974
1975

482
482
432
4S2
432
482
633
705
765
316

1973-Dec

3,782

Money in
circulation
per capita
{in dollars) 6/

383
793
275
681

4,264
4,641
5,309
5,790
6,128
6,472
7,016
7,498
8,040
8,496

42,554
44,712
47,640
50,936
54,351
58, 393
62,201
67,771
73,833
81,196

216.10
224.10
224.55
250.65
265.39
282.03
297.84
322.11
348.44
380.06

733

7,026

7,759

72,497

343.25

1974 -June.

765

7,275

8,040

73,833

348. 44r

July.
Aug..
Sept.
Oct.,
Nov.

Dec

770
775
779
784
788
793

7,336
7,377
7,397
7,435
7,500
7,539

8,106
8,152
3,176
3,219
3,287
3,331

74,373
74,926
74,856
75,899
77,789
79,743

350.71
353.06
352.46
357.12
365.78
374.71

1975 ^an..
Feb..
Mar.
Apr,
May..
June.

795
801
8O4
806
813
816

7,489
7,494
7,535
7,580
7,624
7,681

3,285
3,295
3,339
3,386
3,437
3,496

76,343
76,834
78,062
78,443
79,782
81,196 2/

358.55
360.70
366.26
367.83
373. 75r
380.06

4,lfaO

4,827
308
646
990

Source:
Statement of United States Currency and Coin.
1/ Excludes gold certificates. Series of 1934, which are issued only to
Federal Reserve banks and do not appear in circulation.
2/ Issued prior to January 30, 1934.
2/ Issued prior to July 1, 1929.
i/ Issued on and after July 1, 1929.

^
6/
7/
*

Excludes money held by the Treasury and money held by or for the
account of the Federal Reserve banks and agents.
Based on the Bureau of the Census estimated population.
Highest amount to date.
Less than $500,000.
Revised.
r

21

August 1975
FEDERAL DEBT.
Table FD-1.

-

Summary

of Federal Debt

(In millions of dollars)

Treasury Bulletin

22
FEDERAL DEBT,
Table FD-3.

-

Interest-Bearing Public Debt

(In millions of dollars)

August 1975

23
FEDERAL DEBT.
Table FD-5.

-

Government Account Series

Treasury Bulletin

24
.FEDERAL DEBT.
Table FD-6.

-

Interest-Bearing Securities Issued by

Government Agencies

....

.

August 1973

25
FEDERAL DEBT.
Table FD-7.

Participation Certificates

-

(Tn millions of dollars - face amounts)

Agriculture
Department

Participation certificates issued hy GMMA acting as trustee
Export- Import Bank
of the United States

Commodity Credit
Corporati on

Fiscal year
or month

Farmers Home
Administration 1/
Retire- Outstanding
ments

Reti re- Out-

Sales

ments

standing

1966
1967
1968
1969
1970
1971
1972
1973
1974
1975

761

i.ai 2/
570

398
1,385
650 2/ 2,U6
2,183

533
369
321
268
608
A2

1,8U
1,-493

1,226
618
576
249
24q

:<.?7

1973-

1,840
2,900
3,250
1,330

Dec

Retire-

Out-

ments

standing

30
180
180
630
1,280
1,315
1,085
440
110

2,110
4,830
7,900
8,600
7,320
6,005
4.920
4,480
4.370
4,286

Retirements

600
525
225

184

401
168
24

401

1974-June

Out-

standing

600
1,125
1,166
765
685
517
493
493

.'49

249
249

Oct.
Nov.
Dec.

24'-'

30

24°

25

493

199

4'33

4,340
4,340
4,311
4,286

403

199
199
199
199
199
198

4'-'3

Participation certificates issued by GNMA acting as trustee - Continued

Sales

V

Retire- Outments
standing

680

1,U0
640

27
324
963
405
34

1,820
2,433
2,109
1,146
741
707
707

Government National
Mortgage Association 5/
Sales
605
740
465
140

Retirements
20
50
50
134
190
81
193
95
65

707

Dut-

Retirements

standing
785
1,475
1,891
1,897
1,707
1,626
1,433
1,338
1,273

350
520
430

70
70
203
225
91
206
41

50

1,107
1 236

707

Veterans
Administration 7/

Small Business
Administration 6/

Retirements

IXjt-

standing
350
300
,160
,007

782
691
485
444
444

385
260
590
260

10

60
60
79
136
99
107
243
45

444
444

,

standing

492

198
198
198
198
198
198

492

Office of Secretary

Out-

100
200
212
209
207
201
199
199
198

4^40

Housing and Urban Development Department

Retirements

199

1975- Jan.
Feb.
Mar.
Apr.
May.
June

1973- Dec.

100
100
15

403

Sept

1966
1967
1968
1969
1970
1971
1972
1973
1974
1975

Sales

4,370

July
Aug.

Fiscal year
or month

Health, Education,
and Welfare
Department PV

(Memorandum)
Commodity Credit Corp.
(net certificates of
interest authorized under
Charter Act) 8/
Retire- Outments
standing

fit-

standing

975
1,175
1,704
1,885
1,749
1,650
1,543
1,300
1,255

436
167

855
1,021
923
1,590

1,225
1.262

1974-June
July.
Aug..
Sept.
Oct..
Nov..

707
707
707

19
16

Dec
1975-Jan..
Feb..
Mar.
Apr.
May..
June

30

7C7
7:07

1,243
1,243
1,243
1,243
1,224
1,208
1,208
1,208
1,20s
1,197

11
10

234
234
234
225
225
225

1,13-7

Source: Bureau of Government Financial Operations.
1/ Includes the Direct Loan program through September 1972, the Agricultural Credit Insurance fund beginning October 1972, and the Rural
Housing Loan programs.
2/ Includes Construction of Higher Education Facilities, Health Professions Education fund, and Nurse Training fund, beginning April 1968.
2/ Includes $107 million refunding transaction.
Includes College Housing, Housing for the Elderly, and Public Facility
programs
5/ Includes Special Assistance, and Management and Liquidating programs.

V

444
444

1,2 = 5
1.25S
1,255
1,244
1,234

6/

7/
8/

Includee programs for Dieaeter Loans, and Business Loans and Investments .
Includes Direct Loan and Loan Guaranty programs,
In the case of Commodity Credit Corporation, participation certificates are called "certificates of interest" and are not included in
the Participation Sales Act of 1966. Amounts shown as sales and retirements represent the net excess transactions for the period. C^
July 1, 1969, the amount outstanding was reclassified as agency
securities.

Treasury Bulletin

26
FEDERAL DEBT.
Table FD-8.

-

Debt Subject

to Statutory

Limitation

:

:

.

:

August 1973

27
FEDERAL DEBT.
Table FD-9.

-

Status and Application of Statutory Limitation
Ihe Act of June 30, 1967

The Second Liberty Bond Act (31 U.S.C. 757b), as amended,

provides that the

face amount of obligations

authority of that Act,

issued under

of obligations

and the face anount

guaranteed as to princ ipal and interest by the United States,

billion outstanding

shall not exceed in the aggregate $400
at any one time.

Public Law 9'i-A7 provides that beginning

that the face

(Public Law 90-39

provides

)

amount of beneficial interests and part cipa-

tlons issued under

section 302 (c) of the Federal National

Mortgage Association Charter Act (12 U.S.C. 1717 (c)) during
the fiscal

year 1968 and outstanding at

added to the amount otherwise taken

any time shall be

into account in deter-

on June 30, 1975, and ending on November 15, 1975, the public

mining whether the requirements of the above provisions are

debt limit shall be temporarily

""et.

increased by |177 billion.

Part A.

-

Status Under Limitation July 31, 1975
(In [Pillions of dollars)

Public debt subject to limit:
Public debt outstanding
Less amounts not subject to limit:
Treasury
Federal Financ ing Bank

_^

$'»39,2iO

61^
S

Total public debt subject to limit

537,617

debt subject to limit;
Guaranteed debt of Government agenc ies
Specified participation certificates

Cfther

507
1,135

Total other debt subject to limit

1

Total debt subject to limit

6^2

539,259

Statutoiy debt limit

577,000

Balance of statutoiy debt limit

'

Part B.

-

Application of Statutory Limitation July

31,

37, 7/, 1

1975

(In millions of dollars)

Classifications

Interest-bearing debt:
Marketable
Bills:
Treasury
Notes
Treasury

Total
outstanding

$133,445

153,556

Bonds:

Treasury

36,701

Total marketable

323,731

Nonmarke table
Depos itary series
Foreign government series:
Dollar denominated
Foreign currency denominated
Government account series
Investment series
F.E.A. series
State and local government series
United States individual retirement bonds.
United States retirement plan bonds
United States savings bonds
United States savings notes
Total nonmarketable

2

99
65,872
i3i

537,211

.

,

Total public debt outstanding

Source:

11

907

213,510

Total interes t-bearing debt

Non-interest-bearing debt:
Matxired debt
Other
Total non-interest-beaping debt

20,604
1,599
121,710
2,267

Monthly Statement, of the Public Debt of the United States.

300

729
1,329

538,240

28

Treasury Bulletin
FEDERAL DEBT.
Table FD-10.

-

Treasury Holdings of Securities Issued by Government
Corporations and Other Agencies
(In millions of dollars'!

..

August 1973

29
PUBLIC DEBT OPERATIONS.

Table PDO-1.

- Maturity Schedule of Interest-Bearing Public Marketable Securities
Other than Regular Weekly and 52-Week Treasury Bills
Outstanding July 31, 1975

(In millions of dollars)

Amount of maturities

Held by 2/

Description

U.S. Govt,

Total

5-7/8^
8-3/8%
1-1/2%

Note
Note
Note
Note
Note

7%
1%

Total

6.560%

Bill

6-1/4%
5-7/8%

Note
Note

Note

1-1/2%

Note

6-1/2%
5-3/4%

Note
Note
Note

Note

7-1/2%
6-1/2%
5-7/8%

Note
Note
Note

8-1/4%

Note

1-1/2%
6-1/2%
«^l/4%
7-1/8%

Note
Note

Note
Note
Note

7-lA%
Total..

1-1/2%
7-3/8%

Note
Note
Note
Note
Note

&-7/8%
9%

Note
Note

6-3/4%
6-1/2%
7-1/2%
7-3/4%
1-1/2%
9-3/4%

Note
Note
Note
Note
Mote
Note

8%
6%

^1/2%

Total

6-1/4%

Total

.

-

accounts and All
Federal Re- other
serve banks investors

Amount of maturities
Year
and
month
of final

maturity

V

Held by

Description

U.S. Govt,

Total

accounts and
Federal Reserve banks

^

-

30

Treasury Bulletin
.PUBLIC DEBT OPERATIONS.
Table PDO-2.

-

Offerings of Bills

(Amounts in millions of dollars)

Description of new issue

Amount of bids accepted

Maturity
Issue date

Regular weekly:
( 13- week and 26-ffeek)
1975 -Apr.

3.

10.,

17.

2<;.,

May

1.,

8.,

15.

22.

29.

5.

12.

19.

26.

July

3.

10.

17.

2A.

31.

52 -week

date

Number of
days to
maturity 1/

Aniount of

bids
tendered

Total
aiDount

On competitive
basis 2/

On noncompetitive
basis 2/

Amount
maturing on
issue date
of new
offering

Total
unnatured
issues outstanding after
new issues

August 1975

31
PUBLIC DEBT OPERATIONS.
PDO-2.

-

Offerings of Bills-Continued

On total bids accepted

Average price
per hundred

Treasury bills:
Regular weekly:
fl3-weelt and 26-vieek)

On competitive bids accepted

Equivalent average
rate

^

Price per hundred

Equivalent rate 4/

Price per hundred

(Percent)

(Percent)

3

98.594
97.075

5.562
5.785

98.601
97.099

10

98.478
96.789

6.021
6.352

98.492
96.842

17

98.600
97.046

5.539
5.843

98.627
97.092

2-i

93.571
96.933

5.653
6.067

98.597
96.977

1

98.555
96.887

5.717
6.158

98.570
96.900

8

98.646
97.106

15

jiquivaient rate

^

Percent)

5.535
5.738

98.587
97.065

5.590
5.805

6/
7/

5.966
6.247

98.471
96.755

6.049
6.419

8/

5.432
5.752

98.591
97.024

5.574
5.887

5.550
5.980

98.5eD
96.906

5.697
6.120

M/

5.657
6.132

98.550
96.878

5.736
6.175

5.356
5.724

98.661
97.124 11/

5.297
5.689

98.641
97.097

5.376
5.742

98.690
97.229

5.183
5.481

98.693
97.250 12/

5.171
5.440

98.689
97.211

5.186
5.517

22

98.707
97.264

5.115
5.412

98.728
97.280

5.032
5.380

98.699
97.251

5.147
5.438

29

98.684
97.220

5.206
5.469

98.698 11/
97.246 U/

5.151
5.418

98.677
97.206

5.234
5.496

5

98.671
97.217

5.258
5.505

98.680
97.260

5.222
5.420

98.664
97.198

5.285
5.542

12

98.716
97.329

5.079
5.284

98.731 16/
97.356

5.020
5.230

98.714
97.320

5.087
5.301

19

98.795
97.407

4.767
5.129

98.822
97.447

4.660
5.050

98.781
97.392

4.822
5.159

26

98.568
96.983

5.665
5.935

98.579
97.000

5:622
5.902

3

98.481
96.817

6.008
6.262

98.504 12/
96.875 18/

10

98.432
96.709

6.204
6.509

98.445 12/
96.742

17

98.472
96.793

6.044
6.343

98.483
96.809

2A

98.421
96.650

6.246
6.627

98.434 20/
96.672 21/

31

98.403
96.603

6.318
6.719

98.413
96.620

i2-week
1974 June

A

91.660

8.249

91.729 22/

July

2

91.652

8.256

91.781 22/

30

92.077

7.836

92.207

Aug.

27

90.330

9.564

90.566 2i/

Sept.

2i

91.566

8.341

91.658 25/

Oct.

22

92.286

7.629

92.312

92.600 22/

1975-Apr.

May

June

July

2/

W

:

26/'

Nov.

19

92.556

7.362

Dec.

17

93.301

6.625

93.379 38/'

1975-Jan.

14

93.551

6.378

93.657

Feb.

11

94.628

5.313

94.704 22/

Mar.

11

94.300

5.637

94.332

Apr.

8

93.454

6.474

93.610 ii/

May

6

93.529

6.400

93.578 ii/

3

94.133

5.803

94.207 rj/

1

93.638

6.292

93.767 ii/

29

93.143

6.782

93.226 21/

14

94.679

6.560

94.699 i£/

June

July
Special

W

:

1975-Apr.

Footnotes on following page.

^

Treasury Bulletin

32
PUBLIC DEBT OPERATIONS.

Footnotes to Tabit PDO-2

Source;
Monthly Statement of the Public Debt of the United States and
Allotments.
1/ The 13-week bills represent additional issues of bills with an original maturity of 26 weeks.
2/ For bills issued on and after May 2, 1974, includes amounts exchanged
on a noncompetitive basis by Government accounts and Federal Reserve
banks.
i/ For 13-week, 26-week tenders for $200,000 or less from any one bidder
are accepted in full at average prices of accepted competitive bids;
for other issues, the corresponding amount is stipulated in each
offering announcement.
Ij Bank discount basis.
Except $15,000 at 98.400 and $100,000 at 97.168.
6/ Except $100,000 at 98.527, $10,000 at 98.520, $915,000 at 98.509,
$80,000 at 98.500 and $100,000 at 98.496.
2/ Except $30,000 at 97.000, $600,000 at 96.868, $350,000 at 96.860,
$300,000 at 96.854 and $10,000 at 96.850.
8/ Except $10,000 at 98.975.
2/ Except $600,000 at 98.587.
10/ Except $20,000 at 97.046 and $10,000 at 97.966.
11/ Except $600,000 at 97.140 and $200,000 at 97.129.
12/ Except $300,000 at 97.257.
ii/ Except $285,000 at 98.700.
14/ Except $475,000 at 97.255 and $1,000,000 at 97.250.
15/ Except $30,000 at 98.686.

16/
12/
18/
19/
20/
52/
22/
Zl/
ZA/
Zl/
26/

V

22/
28/
22/
20/
ii/

^2/
12/

%/
21/
2h/
r

Except $140,000 at 98.736.
Except $145,000 at 98.546, $100,000 at 98.520 and $300,000 at 98.508.
Except $10,000 at 96.900, $300,000 at 96.899 and $100,000 at 96.883.
Except $40,000 at 98.500.
Except $525,000 at 98.458, $500,000 at 98.448, $465,000 at 98.437.
Except $200,000 at 96.804 and $15,000 at 96.689.
Except $35,000 at 91.911 and $1,115,000 at 91.979.
Except $10,000 at 91.911 and $650,000 at 91.801.
Except $10,000 at 90.930 and $50,000 at 90.752.
Except $20,000 at 94.513, $480,000 at 91.710, $2,440,000 at 91.709 and
$1,000,000 at 91.678.
Except $10,000 at 97.972, $10,000 at 95.825, $10,000 at 92.500 and
$200,000 at 92.350.
Except $95,000 at 92.624.
Except $10,000 at 93.650 and $1,905,000 at 93.428.
Except $4,385,000 at 94.738.
Except $15,000 at 94.343.
Except $960,000 at 94.540, $200,000 at 93.998, $100,000 at 93.660,
$100,000 at 93.640 and $60,000 at 93.630.
Except $85,000 at 93.601.
Except $70,000 at 94.337.
Except $500,000 at 93.784 and $55,000 at 93.774.
Except $15,000 at 94.000 and $10,000 at 93.300.
Except $10,000 at 95.150, $10,000 at 95.052 and $10,000 at 94.890
Revised.

33

August 1973
PUBLIC DEBT OPERATIONS.
Table PDO-3.

-

New Money Financing through Regular Weekly Treasury
(Dollar amounts in millions)

Description of Issue
Ajuount

Issue
date

1972-July

1972-Oct.
1973-Jan.

12
11

91
182

1972-Oet.
1973-Jan.

19
18

182

1972-Oct.
1973-Jan.

26

91

25

182

1972-Nov.
1973- Feb.

Aug.

10.

Sept.

Number of
days to
maturity

Matarity
date

7.

91
182

' 1972-Nov.

91

1973-Feb.

182

1972-Dec.
1973- Mar.

182

91

Feb.

Nov.

91
182

May
Feb.

16.

24.

May

10

91
182

Feb.

15
17

182

22
24

90
181

1

May
Feb.

May

31

91
182

Mar.

15
14

91
182

June

22
21

91
182

Mar.
June

29
28

91
182

Apr.

5

July

5

91
182

Apr.

12
12

91
182

19
19

91
182

July

26
26

91
182

1973-Aug.

16

Nov.

15

91
182

24.

Aug.
Nov.

23
23

91
183

31.

Aug.
Nov.

30
29

91
182

14.

Mar.

June
Mar.

21.

28.

4.

11.

18.

25.

May

July

Aug.

Nov.

1974-May

91

May

30.

Dec.

91

17.

July
Apr.

July
Apr.

14.

1973-Sept.
Dec.

13
13

91
182

21.

Sept.
Dec.

20
20

91
182

28.

Sept.
Dec.

27
27

91
182

Oct.
1974- Jan.

4
3

91
182

12.

1973- Oct.
1974-Jan.

11
10

91
182

19.

1973- Oct.
1974-Jan.

18
17

91
182

26.

1973- Oct.
1974-Jan.

25
24

91
182

2..

1973- Nov.
1974-Jan.

1

31

91
182

5.

91
182

Feb.

14

May

16

16.

Aug.
Nov.

15

U

91
182

23.

Aug.
Nov.

22
21

91
182

30.

Aug.
Nov.

29
29

91
183

15..

Footnotes at end of table.

of bids
tendered

Billsi/

Treasury Bulletin

34
PUBLIC DEBT OPERATIONS.
Table PDO-3.

-

New Money

Financing through Regular Weekly Treasury Bills
(Dollar

Description of issue

a.-nounts

in millions

1

i/

-Continued

.

August 1975

33
PUBLIC DEBT OPERATIONS

Table PDO-3.

-

New Money

Financing through Regular Weekly Treasury Bills i/— Continued
(Dollar amounts in millions)

Description of issue

1975-Feb

6,

May

Aug.

May

27.

Aug.

June
Sept.

6.

June
Sept.

13.

5.668
5.736

$392

15

91
182

4,107
3,743

2,701
2,499

5.800
5.800

394

22
21

91
182

4,096
4,653

2,704
2,503

5.408
5.483

405

29
28

91
182

3,468
3,822

2,702
2,550

5.456
5.675

446

5

91
182

3,797
4,768

2,701
2,501

5.638
5.742

394

91
182

4,511
5,523

2,602
2,502

5.622
5.655

496

4,303

-4

12
11

increase, or
decrease (-)

June
Sept.

19
13

91
182

2,503
2,502

5.376
5.473

599

4,533

27.

June
Sept.

26
25

91
182

4,014
3,599

2,502
2,601

5.543
5.669

702

July
Oct.

3

91
182

4,598
4,331

2,703
2,700

5.562
5.785

805

3

July

10

91

9

182

5,045
4,361

2,701
2,801

6.021
6.352

795

Oct.

July

17
16

182

4,881
4,729

2,704
2,702

5.539
5.843

799

Oct.

July

24

Oct.

23

91
182

4,094
4,066

2,702
2,700

6.067

July
Oct.

31
30

91

4,423
5,479

2,701
2,701

5.717
6.158

804

182

5.356
5.724

801

17
24

July

$2,702
2,401

New money

20,

10

May

$4,244
5,044

Aug.

May

20,

Apr.

91
182

Number of
days to
maturity

/l975-May
Aug.

13,

Mar.

Amount
of bids
accepted

Maturity
date

Issue
date

Average rate
of bids
accepted 2/
(Percent)

Amount
of bids
tendered

1

2

91

5.653

797

8

Aug.
Nov.

6

91
182

4,412
5,169

2,302
2,802

15

Aug.
Nov.

14
13

91
182

6,426
4,831

2,805
2,801

5.183
5.481

801

Aug.
Nov.

21
20

91

22

182

4,503
5,542

2,803
2,801r

5.115
5.412

795r

29

Aug.
Nov.

28
28

5,057
4,820

2,802
2,803

5.206
5.469

801

183

5.258
5.505

698

7

91

Sept.
Dec.

4

5

4

91
182

5,616
3,898

2,803
2,701

12

Sept.
Dec.

11
11

91
182

4,578
4,258

2,606
2,592

5.079
5.284

2
2

91
183

3,811
3,608

2,701
2,701

6.008
6.262

91
182

4,465
4,505

2,802
2,901

6.204
6.509

697

Oct.
\1976-Jan.

3

10

/i975-Oct.
(l976-Jaii.

493

498

l975-0ct.
1976-Jan.

16

91
182

5,453
6,560

2,806
2,905

6.004
6.343

802

15

f'lgVS-Oot.

23
22

91
182

,505
,550

2,802
2,901

6.246
6.627

799

11976^an.
1975-Oct.
1976-Jan.

30
29

91
182

5,136
5,262

2,904
2,902

6.318
6.719

17
I

24

'

31
1

See Table PDO-2.
Excludes issues of strips of additional amounts of outstanding
regular weekly bills for cash on December 2, 1970 ($2,105 million),
April 6, 1971 ($2,206 million) and June 5, 1974 ($801 million).
Equivalent average rate on bank discount basis.
On June 11, 1974, the Treasury announced that the amount of bills

Source:

1/

2/

2/

}

804

offered would be $200 million more than the amount maturing.
It stated that a foreign central bank would bid for $200 million of the
bills in order to achieve a better balance between its holdings of
special Treasury issues and marketable Treasury issues.
Revised,

A

.

Treasury Bulletin

56
PUBLIC DEBT OPERATIONS.
Table PDO-4.

-

Oftenngs

ot Public

Marketable Securities Other than

Regular Weekly Treasury Bills
(Dollar amounts in millions)

Date subscription books
closed or
tenders received

7/25/72

8/2/72

Issue
date

Description of securities 1/

r
(

4/30/72
7/31/72

r 8/1 5/72
3/15/72

{

/ 5/31/72

-

273d
365d

Reopening

5-7/8^
6-1/4^
6-3/8?

Note
Note
Bond

2/15/76-F
3/15/79-A
8/15/84

5.040i6

Bill
Bill

5/31/73 - Reopening
8/28/73

273d
362d

1,889
4,914

1,804

6/30/73 - Reopening
9/25/73

271d

1,547
4,145

1,801

4,855

2,060

273d
357d

1,311
3,333

1,802

7,162
6,367
3,801
5,079
5,690

3,041

147d
355d
199d

349d

3,177
1,749
3,072

1,800
627
1,804

349d

1,664
3,255

346d

3,011

344d

3,353

341d

1,240
3,937

6/

3y
7y
I2y

6/

5.178*

Bill-

7/

10/1/72

1-1/2*

Note

10/1/77-EO

5y

10/11/72

10/19/72

Note

9/30/74-E

ly

Bill

41

360d

5.223*
5.318*

Bill
Bill

7/31/73 - Reopening
10/23/73

11/1/72
11/17/72
11/22/72
11/29/72
12/20/72

11/15/72
11/24/72
11/30/72
12/5/72
12/28/72

6-1/4*
4.721*
5.225*
5.089*
5-7/8*

Note
Bill
Bill
Bill
Note

ll/15/76-D - Reopening
4/20/73 - Tax ant.
11/20/73
6/22/73 - Tax ant. 5/
12/31/74-F

12/26/72

1/26/73
2/7/73
2/7/73
2/22/73

12/31/72
1/10/73
1/31/73
2/15/73
2/15/73
2/28/73

5.337*
6-3/4*
5.986*
6-1/2*
6-5/8*
6.050*

Bill
Bond
Bill
Note
Note
Bill

12/18/73
2/15/93
1/15/74
8/15/76-0
11/15/79-B
2/12/74

3/27/73
2/
4/24/73

3/31/73
4/1/73
4/30/73

6.615*
1-1/2*
6.598*

Bill
Note
Bill

4/1/78-EA
4/9/74

5y

5/1/73
5/2/73
5/24/73
6/26/73
7/24/73
7/31/73
8/1/73
8/8/73
8/22/73
8/24/73

5/15/73
5/15/73
5/31/73
6/30^73
7/31/73
S/15/73
8/15/73
8/15/73
8/28/73
9/4/73

6-7/8*
7*
6.818*

Note
Bond
Bill

5/15/30-A
5/15/93-93
5/7/74

7y
25y

7.235*
8.393*
7-3/4*
7-1/2*1
9.802*
8.337*
3-3/8*

Bill
Bill
Note
Bond
Bill
Bill
Note

6/4/74
7/2/74
8/15/77-B - Reopening
4s8/15/88-93
20y
Tax
ant.
-1/
9/19/73
8/27/74
2y
9/30/75-G

9/19/73
2/
10/3/73

9/25/73
10/1/73
10/9/73

8.057*
1-1/2*
7.702*

Bill
Note
Bill

9/24/74
10/1/7S-E0
7/30/74

ro723773^

77t32f
6.765*

lA/73

10/17/73
10/25/73
10/30/73

10/31/73

11/1/73
11/15/73

ru/15/73

Bm
Bill
Note

6y
2y
19y

11/20/73

7.708*

Bill

11/19/74

11/1/73

7.830*

Bill

4/19/74

I 11/30/73

7.790*
6.880*
6.948*
7*
6.342*
6-7/8*
7-1/2*
7.450*

Bill
Bill
Bill
Note
Bill
Note
Bond
Bill

6/21/74
12/17/74
1/14/75
2/15/31
2/11/75
5/15/77
8/15/88-93
4/19/74

6.897*

Bill
Bill

3/11/75
6/21/74

Note
Note
Bill
Bill
Note

3/31/7b -H
4/1/79 -E
4/8/75
5/6/75
8/15/78-C

12/18/73
1/15/74
2/15/74
2/12/74
2/15/74
2/28/74
3/4/74

3/6/74
3/26/74

3/12/74
3/29/74

Reopening

Reopening
Tax ant.
Tax ant.

3,2U

4/9/74
4/1/74
4/9/74
5/7/74
5/15/74

7.886*
8.421*
3-3/4*

5/8/74

5/15/74

^8-3/4*
t8-l/2*

5/29/74
5/30/74

6/4/74
6/5/74

8.243*
8.234*

Footnotes at end of table

Note
Bond
Bill
Bill

339d
336d

35d
354d

Im

500

501

,012
,802
,509
,102

595

5,221
40

2,043
652
1,800

14/
15/

595

6281

500

425?

3,047

1,802

4,209

1,804

4,277
4,716
2,915

1,802
2,007
2,021

220

1,511

220\2y

220
136

302

364d

3,437

1,801

140d
203d
364d
364d

2,508
3,023
3,588
3,222
3,012
3,101
3,121
1,144

002
000
803
802
516
808
253
300

^

327

307
250

46d
364d

3,773
3,359

1,515
1,801

84d

5,042
2,047

2,523
1,532

364d
364d

3,202
2,984
3,580

2y
5y

4y 3m

6/30/76-1
2y
25y
5/15/94-99
364d
6/3/75
(Average) 13 Id
"Strip" of 8 Series 38/

ioA

4,371

1,100

3y 3ni
19y 6m

17/

4^

2,017
1,305
2,043

2,153

364d

5,22ll
221I

1,301
1,802
2,028

(Average) 43d

7y

Reopening
Tax ant.

3,883

1,009
1,301
1,790

3,195
2,985
2,167
500
3,896
3,062

2,860
1,503

1-im
9m

1/

Reopening
Reopening

41

501

15

Tax ant. 5/

3/28/74
2/
4/3/74
5/2/74
5/7/74

4,945
4,559
2,312

3,833

364d
169d

12/3 1/7 5 -H

"Strip" of 11 Series 23/

12/12/73
1/9/74
2/5/74
2/6/74
2/6/74
2/7/74
2/26/74

6m
9m

IX '15/79 -C
8/15/38-93

r

3y

10/22/74
4/19/74 - Tax ant. 5/

11/28/73

8,

5y

Bill

11/14/73

Im

364d

8.670*

11/9/73

20y

3/12/74

7*
7-i*

11/15/73

2y

6y

Note
Bond

\

4y

352d

6/

4/

17

ll-l/2m

U.0/31/72

y

In exchange

500
1,201

1,526
2,850

4/30/73
7/31/73

5.346*
5.529*

r 7/31/72

For
cash

Bill
Bill

/6/30/72
(9/30/72

10/24/72

Exchange

Amoimt issued J/

4.731*
4.918%

8/31/72

\

9/26/72

Amount of subscriptions tendered

days) 2/

L8/15/72
8/24/72

Period to final
maturity
(years, months,

3,286
904
2,531
2,458

583

656
279

1,801
1,802
1,830
2,048
309
1,802
301

2V

136/

129/

5831

656W
279/

Allotment
ratio

57

August 1975
PUBLIC DEBT OPERATIONS.
'able

PDO-4.

-

Offerings of Public Marketable Securities Other than

Regular Weekly Treasury Bills
(Dollar amounts in millionsj
Date subscrip-

—C ontinued

Treasury Bulletin

38
PUBLIC DEBT OPERATIONS,
Footnotes

Source:

to

Bureau of the Public Debt.
All securities (except EA & EO notes) issued after February 15, 1973
were sold at auction through competitive and noncompetitive bidding.
1/ For bill issues, always sold at auction, the rate shown is the equivalent average rate (bank discount basis) on accepted bids. Other
securities issued at par exaept those bearing footnote 6 and those
sold at auction.
For details of bill offerings see Table PDO-2.
2/ From date of additional issue in case of a reopening.
In reopenings the amount issued is in addition to the amount of
2,/
original offerings.
^/ For securities exchanged for the new issues see Table PDO-7.
5/ Tax anticipation bill, accepted at face value in payment of income
taxes due on the 15th of the month in which the bills mature.
6/ Price at which issued appears in Table PDO-5.
7/ Exchange offering available to owners of nonmarketable 2-j/iS Treasury
bonds. Investment Series B-1975-80, dated April 1, 1951.
For further
information on the original offering see Treasury Bulletin for April
1951, page A-1.
8/ Cash subscriptions were accepted only from individuals in amounts of
$10,000 or less.
9/ Includes $1,028 million of the 5-7/8% notes, $1,437 million of the
6-lA% notes and $1,180 million of the bonds allotted to Federal Reserve banks and Government accounts.
Sold
10/
at auction through competitive and noncompetitive bidding.
Prices accepted ranged from 100.41 (yield 5.77%) down to 100.20 (yield
5.89%) with the average at 100.25 (yield 5.86%).
11/ Sold at auction through competitive and noncompetitive bidding.
Prices accepted ranged from 100.31 (yield 6.16%) down to 100.14 (yield
6.21%) with the average at 100.18 (yield 6.20%).
12/ Sold at auction through competitive and noncompetitive bidding.
Prices accepted ranged from 100.29 (yield 5.72%) down to 100.05 (yield
5.85%) with the average at 100.09 (yield 5.83%).
IJ/ Sold at auction through competitive and noncompetitive bidding. All
accepted tenders were awarded at the price of 99.50 (yield 6.79%).
1^/ Includes $1,392 million allotted to Federal Reserve banks and
Government accounts.
15 / Issued to Federal Reserve banks and Government accounts in exchange
for notes maturing February 15, 1973.
16 / Sold at auction through competitive and noncompetitive bidding.
Prices accepted ranged from 99.88 (yield 6.65%) down to 99.21 (yield
6.77%) with the average at 99.40 (yield 6.74%).
17/ Issued to Federal Reserve banks and Government accounts in exchange
for notes maturing May 15, 1973.
18/ Prices accepted ranged from 100.10 (yield 6.86%) down to 99.05 (yield
7.05%) with the average at 99.29 (yield 7.01%).
19/ All accepted tenders were awarded at the price of 98.75 (yield 7.11%).
20/ Issued to Federal Reserve banks and Government accounts in exchange
for securities maturing August 15, 1973,
21/ Prices accepted ranged from 99.31 (yield 7.95%) down to 99.01 (yield
8.04%) with the average at 99.07 (yield 8.03%).
22/ All accepted tenders were awarded at the price of 95.05 (yield 8.00%).
22/ Prices accepted ranged from 101.05 (yield 7.80%) down to 100.70
(yield 7.99%) with the average at 100.80 (yield 7.94%).
24/ Issued to Federal Reserve banks and Government accounts in exchange
for bonds maturing November 15, 1973.
25/ Prices accepted ranged from 101.21 (yield 6.75%) down to 100.63
(yield 6.87%) with the average at 100.88 (yield 6.82%).
26/ Prices accepted ranged from 100.49 (yield 6.73%) down to 100.09
(yield 6.94%) with the average aVJ.00.14 (yield 6.91%).
27/ All accepted tenders were awarded at the price of 101.60 (yield 7.35%).
28/ Sale of a "strip" of Treasury bills consisting of an additional $100
million of each weekly series maturing from November 23, 1973,
through January 31, 1974.
29/ Issued to Federal Reserve banks and Government accounts in exchange
for securities maturing February 15, 1974.
^0/ Prices accepted ranged from 100.68 (yield 6.88%) down to 100.00 (yield
6.98%) with the average at 100.10 (yield 6.95).
21/ Prices accepted ranged from 100.92 (yield 6.56%) down to 100.35 (yield
6.75%) with the average at 100.51 (yield 6.70%).
32/ All accepted tenders were awarded at the price of 100.45 (yield 7.46%).
22/ Prices accepted ranged from 100.11 (yield 7.94%) down to 99.76 (yield
8.13%) with the average at 99.85 (yield 3.08%).
2i/ Issued to Federal Reserve banks and Government accounts in exchange
for securities maturing May 15, 1974.
22/ Prices accepted ranged from 100.68 (yield 8.56%) down to 99.96 (yield
8.76%) with the average 100.07 (yield 8.73%).
2^/ Prices accepted ranged from 100.57 (yield 8.43%) down to 99.87 (yield
8.79%) with the average at 100.00 (yield 8.73%).
^7/ All accepted tenders were awarded at the price of 102.85 (8.23%).
38/ Sale of a "strip" of Treasury bills consisting of an additional $100
million of each weekly series maturing from September 19 through
November 7, 1974.
39/ Issued to Federal Reserve banks and Government accounts in exchange
for notes maturing August 15, 1974.

Table PDO-4.

^/

Note.

il/

^/
43/

^/
^5/
46/

^/

^/
.^9/

50/

51/
52/
51/

54/
55/

56/
57/

53/
59/

60/
61/
62/

62/

Uj
65/
66/
67 /

68/
69/
70/
71/

72/
12/
74/
21/
76/

22/
28/
22/
p
•

Prices accepted ranged from 101.28 (yield 8.48%) down to 100.86 (yield
8.65%) with the average at 101.00 (yield 8.59%).
Prices accepted ranged from 101.50 (yield 8.67%) down to 101.01 (yield
8.78%) with the average at 101.15 (yield 8.75%).
Prices accepted ranged from 99.76 (yield 8.52%) down to 98.00 (yield
8.70%) with the average at 98.70 (yield 8.63%).
Issued to Federal Reserve banks and Government accounts in exchange
for notes maturing September 30, 1974.
Yields accepted ranged from 8.39% (price 99.75) down to 8.20% (price
100.09) with the average at 8.34% (price 99.84).
Yields accepted ranged from 7.93% (price 99.787) down to 7.78% (price
100.349) with the average at 7.89% (price 99.937).
Issued to Federal Reserve banks and Government accoxints in exchange
for securities maturing November 15, 1974.
Yields accepted ranged from 7.87% (price 99.685) down to 7.78% (price
99.921) with the average at 7.85% (price 99.737).
Yields accepted ranged from 7.86% (price 99.416)do»m to 7.75% (price
100.000) with the average at 7.82% (price 99.628).
Prices accepted ranged from 103.50 (yield 8.17%) down to 102.79
(yield 8.23%) with the average at 103.04 (yield 8.21%).
Sale of a "strip" of Treasury bills consisting of an additional $200
million of each weekly series maturing from December 12, 1974,
through January Q, 1975.
Issued to Federal Reserve banks and Government accounts in exchange
for notes maturing December 31, 1974.
Yields aooepte* ranged from 7.37% (price 99.781) down to 7.15% (price
100.183) with the average at 7.32% (price ')9.872).
Prices accepted ranged from 102.20 (yield 7.27%) down to 101.80
(yield 7.37%) with the average at 101.95 (yield 7.33%).
Prices accepted ranged from 100.91 (yield 7.18%) down to 100.80
(yield 7.27%) with the average at 100. 84 (yield 7.24%).
Issued to Federal Reserve banks and Government accounts in exchange
for notes maturing February 15, 1975.
Yields accepted ranged from 7.17% (price 99.814) up to 7.23% (price
99.643) with the average at 7.21% (price 99.700).
Yields accepted ranged from 7.40% (price 99.881) up to 7.52% (price
99.311) with the average at 7.49% (price 99.453).
Yields accepted ranged from 7.89% (price 99.837) up to 7.96%„(price
99.084) with the average at 7.95% (price 99.191).
Yields accepted ranged from 5.88% (price 99.993) up to 5.98% (price
99.852) with the average at 5.94% (price 99.908).
Yields accepted ranged from 5.97% (price 100.056) up to 6.12% (price
99.778) with the average at 6.09% (price 99.834).
Prices accepted ranged from 101.51 (yield 7.45%) down to 101.07
(yield 7.54%) with the average at 101.21 (yield 7.51%).
Yields accepted ranged from 5.90% (price 100.082) up to 6.01% (price
99.757) with the average at 5.98% (price 99.991).
Yields accepted ranged from 6.40% (price 100.185) up to 6.60% (price
°9.815) with the average at 6.51% (price 99.982).
Yields accepted ranged from 8.15% (price 100.826) up to 8.37% (price
98.947) with the average at 8.31% (price 99.455),
Yields accepted ranged from 6.95% (price 100.234) up to 7.19% (price
99.865) with the average at 7.15% (price 99.926).
Yields accepted ranged from 7.37% (price 100.009) up to 7.45% (price
99,863) with the average at 7.43% (price 99.900).
Issued to Federal Reserve banks and Government accounts in exchange
for notes maturing May 15, 1975.
Yields accepted ranged from 7.60% (price 100.001) up to 7.74% (price
99.604) with the average at 7.70% (price 99.717).
Yields accepted ranged from 7.96% (price 100.212) up to 8.02% (price
99.894) with the average at 8.00% (price 100.000).
Yields accepted ranged from 8.25% (price 100.000) up to 8.32% (price
99.232) with the average at 8.30% (price 99.450).
Yields accepted ranged from 6.79% (price 99.924) up to 6.92% (price
99.683) with the average at 6.86% (price 99.794).
Yields accepted ranged from 6.38% (price 100.158) up to 6.58% (price
99.895) with the average at 6.54% (price 99.947),
Yields accepted ranged from 6.50% (price 100.000) up to 6.69% (price
99.650) with the average at 6.61% (price 99.797).
Yields accepted ranged from 7.74% (price 100.034) up to 7.85% (price
99.664) with the average at 7.83% (price 99.731).
Yields accepted ranged from 7.49% (price 100.018) up to 7.53% (price
99.945) with the average at 7.52% (price 99.963).
Issued to Federal Reserve banks and Government accounts in exchange
for notes matiiring August 15, 1975.
Yields accepted ranged from 7.75% (price 100.233) up to 7.97% (price
99.695) with the average at 7.94% (price 99.768).
Yields accepted ranged from 8.06% (price 100.343) up to 8.18% (price
99.711) with the average at 8.14% (price 99.921).
Yields accepted ranged from 8.38% (price 99.948) up to 8.48% (price
98.917) with the average at 8.44% (price 99.327).
Preliminary.
Less than $500,000.

39

August 1975

PUBLIC DEBT OPERATIONS
Table PDO-5.

Description of securities

1975

8-3/8%

Note

7%

Note

7%

1976

6-1/4%

Note

5-7/8%

Note

8%

9%

-

Unmatured Marketable Securities Issued at a Premium
Other than Advance Refunding Operations

Date of
financing

Ajicunt issued

(In millions)

Average price
per hundred

Effective
interest
rate

or Discount

Eligible securities exchanged

Treasury Bulletin

40
PUBLIC DEBT OPERATIONS.
Table PDO-5.

-

Unmatured Marketable

Securities Issued at a

Premium

Other than Advance Refunding Operations — Continued

Des

or Discount

August 1975

41
.PUBLIC DEBT OPERATIONS

Table PDO-5.

Description of

Unmatured Marketable Securities Issued at a Premium or Discount
Other than Advance Refunding Operations -Continued
-

Treasury Bulletin

42
PUBLIC DEBT OPERATIONS.
Table PDO-6.

-

Allotments by Investor Classes ou Subscriptions
Part A.

-

Other than

Bills

(In millions of dollars)

Issues

1/

for Public

Marketable Securities

August 1975

43
PUBLIC DEBT OPERATIONS.

Table PDO-6.

-

Allotments by Investor Classes on Subscriptions for Public Marketable Securities
Part B.

-

Bills Other than Regular

Weekly Series

)

E

Treasury Bulletin

44
.PUBLIC
Tqble PDO-7.

-

DEBT OPERATIONS.

Disposition of Public Marketable Securities

Other than Regular Weekly Treasury Bills
(Dollar amounts in millions)
Results of exchange offers

Disposition offers

Called or maturing securities 1/

Date of

by Treasul'y

ref\jnding

Ajuount

or retire-

out^

Description

ment

7/31/72

date

5.053^ Bill

l/n/72

4.496f. Bill

7/31/72

7/31/71
7/31/71

8/15/72 -E

5/15/71

5%

Standing

1,202
500

Exchange
security
offered

Cash
retirement

Ex-

changed

Description of new
securities offered
(See also Table PDO-/;)

Turned
in for
cash 2/

1,202
500
1,715
612

,574

;,574

Bond

3/15/72

9/15/62

1,453

1,453

2-1/2? Bond

Q/15/72

10/20/41

1,951

1,Q51

IS

123
252

379

181
2

8/15/72

Note

-

^ 2-1/2? Bond

5-3/4? Note 5/

11/15/72-F

6/29/71

12/15/72

11/15/45

2,547

11/15/74-A

11/15/67

7,212

^

11/15/74

12/2/57

2,236

5-3/4? Note 5/

2/15/74-A

2/15/68

5,148

3-7/8^ Bond

2/15/75-E

10/22/71

b-1/4?

Note
Note
Bond

F-1976
A-1979
8/15/84

-7/8?
6-1/4?
6-3/8?

Note
Note
Bond

F-1976
A-1979
8/15/84

,285

630
1Q7
111

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

Note
Note
Bond

F-1976
A-1979
8/15/84

2,547

805
223
165

7/8?
b-1/4?
3/8?

Note
Note
Bond

F-1976
A-1979
8/16/84

/6-1/4?
^6-3/8?

Bond

8

\6-3/8?

Note
Bond

A-1979
8/15/84

\^b-3/8?

Note
Bond

A-1979
8/15/84

Note
Bond

A-1979
8/15/84

/'6-1/4?

5,148

(
5-7/8? Note 5/

F-1976
A-1979
8/15/84

i/8?

1,097

6S6

Note
Note
Bond

5-7/8?
1/A?

232

15

2,045

2,045

Sj

I'd -1/4?

( si' J

\j3-V8?

4,945
27, A"^!

8/31/72

5.125? Bill
4.580? Bill

8/31/72
8/31/72

8/31/71
8/31/71

1,200

9/15/72

2-1/2? Bond

Q/15/72

10/20/71

454

5.279? Bill
3.930? Bill

9/30/72
9/10/72

9/30/71
9/30/71

1,201

I

9/30/72
I

10/1/72

1-1/2? Note

10/31/72

r4.490? Bill
3.891? Bill
1

-

500

501

lO/l/72-EO

10/1/67

33

10/31/72
10/31/72

10/31/71
10/31/71

1,200
500

11,816

J^

454

1,201^
501

,/

j^

33

V/

1,200
500]-^/

6/29/71

1.326

1,326

11/30/72
11/30/72

11/30/71
11/30/71

1,201
501

l,20l)i/

12A5/72

2-1/2? Bond

I2A5/72

11

A 5/45

1,351

1,351

12/31/72

3.927? Bill
4.512? Bill

12/31/72
12/31/72

12/31/71
12/31/71

200
501

200I

1/31/73

'3.936? Bill
4.234? Bill

1/31/73
1/31/73

1/31/72
1/31/72

200
500

20o\

A 5/73

'6-1/2? Note
4-7/8? Note

2

A 5/73
2 A 5/73

8A6/71

514
268

2/28/73

"4.091? Bill
4.367? Bill

2/28/73
2/28/73

2/29/72
2/29/72

200

3/31/73

"4.651? Bill
4.754? Bill
_

3/31/73
3/31/73

1/31/72

201
501

11/15/72-F

11/30/72

2

4A/73
4/20/73
4/30/73

5A5/73

"

11

A 5/71

3/31/7:

501

4/

501/

501/ i/

500/i/
2,514
4,2t.J

/i/

1-1/2? Note
4.721? Bill

4A/73-EA

4.362? Bill
4.731? Bill

4/30/73
4/30/73

4/30/72
4/30/72

200
500

'7-3/4? Note

5A5/73-A

lOA/69

844

2,663

.4-3/4? Note

5

A 5/72

792

2,598

200
500

4/20/73

A 5/73-

4A/68
11/24/7:

5

34

012

5/31/73

4.465? Bill
5.040? Bill

5/31/73

5/31A3

5/31/72
5/31/72

6/22/73

5.089? Bill

6/22/73

12/5/72

510

6/30/73

853? Bill
{': 346? Bill

6/30/73
6/30/73

6/30/72
6/30/72

201
500

Footnotes at end of table.

4,559
2,312

1,200 \n/
500

4.563? Bill
3.862? Bill

11/15/72

612

1,425
2,458

1,089
1,810

2/

Note

of 5-7/8? Note
of e^l/4? Note
of 6^3/8? Bond

A-1979
5/84

A

August 1975

43

_ PUBLIC DEBT OPERATIONS.
Table PDO-7.

-

Disposition of Public Marketable Securities

Other than Regular Weekly Treasury Bills —Continued
(Dollar amounts in millions)
Date of

Treasury Bulletin

46
.PUBLIC
Table PDO-7.

-

DEBT OPERATIONS.

Disposition of Public Marketable Securities

Other than Regular Weekly Treasury Bills— Continued
(Dollar amounts in millions)

August 1975

47
PUBLIC DEBT OPERATIONS.
Footnotes to Table PDO-7

Bureau of the Public Debt.
Original call and maturity dates are used.
All by investors other than Federal Reserve banks.
(see Table PDO-A).
Rolled over into new bills
for detail of offerings beginning July 1972,
Tax anticipation issue:
see Table PDO-^; for amounts redeemed for taxes and for cash see
"Note" below.
Subscribers exchanging these securities may elect, for Federal income
tax purposes, to recognize gain or loss on accoxjnt of the exchange
either in the taxable year of the exchange or (except to the extent
that cash is received) in the taxable year of disposition or redemption
Any gain to the extent that
of securities received in the exchange.
cash was received by the subscriber (other than as an interest
adjustment) must be recognized in the year of the exchange.
Public holders of these securities were not given preemptive rights
to exchange them but they could be used in payment for new securities
allotted.
Of this amount $595 million was exchanged by Federal Reserve banks
Other
and Government accounts for 6-5/8^ notes of Series B-1979.
holders of the maturing notes were not given preemptive rights to
exchange their holdings for the 6-5/8% notes.
Exchanged by Federal Reserve banks and Government accounts for $2,623
million of 6-7/8% notes of Series A-1980 and $40 million of 1% bonds
of 1993-98 issued May 15, 1973.
Exchanged by Federal Reserve banks and Government accounts for 6-7/8%
notes of Series A-1980 issued May 15, 1973.
Exchanged by Federal Reserve banks and Government accounts for $233
million of 7-3/4% notes of Series B-1977 and $92 million of 7-1/2%
bonds of 1938-93 issued August 15, 1973.
Exchanged by Federal Reserve banks and Government accounts for $495
million of 7-3/4% notes of Series B-1977 and $233 million of 7-l/2%
bonds of 1988-93 issued August 15, 1973.
Exchanged by Federal Reserve banks and Government accounts for $220
million of 7% notes of Series G-1979, $220 million of 7% notes of
Series H-1975 and $136 million of 7-1/2% bonds of 1988-93 issued
November 15, 1973.
Exchanged by Federal Reserve banks and Government accounts for $307
million of 6-7/8% notes of Series C-1977, $25 million of 7% notes of
Series A-1981 issued February 15, 1974, and $10 million of 7-1/2%
bonds of 1988-93 issued February 28, 1974.
Exchanged by Federal Reserve banks and Government accounts for $302

Soxirce:

1/
2/

2/
^/

_5/

6/

7/

8/

9/
10/

11/

12/

13/

1^/

15/

16 /

17 /

18/
19/

20/
21/

22/

23/

24/

25/
26/

Information on retirement of tax antic
in footnote 4. in millions of dollars:

Note;

million of 7% notes of Series A-1981 issued February 15, 1974, and
$240 million of 7-1/2% bonds of 1988-93 issued February 28, 1974.
Exchanged by Federal Reserve banks and Government accounts for $656
million of 8-3/4% notes of Series 1-1976 and $343 million of 8-3/4%
notes of Series C-1978 issued May 15,1974.
Exchanged by Federal Reserve banks and Government accounts for $240
million of 8-3/4% notes of Series C-1978 and $279 million of 8-1/2%
bonds of 1994-99 issued May 15, 1974.
Exchanged by Federal Reserve banks and Government accounts for $2,936
million of 9% notes of Series D-1977, $2,461 million of 9% notes of
Series B-1980 and $486 million of 8-1/2% bonds of 1994-99 issued
August 15, 1974.
Exchanged by Federal Reserve banks and Government accounts for 8-1/4%
notes of Series J-1976 issued September 30, 1974.
Exchanged by Federal Reserve banks and Government accounts for $1,059
million of 7-3/4% notes of Series E-1977, $949 million of 7-3/4% notes
of Series B-1981 and $196 million of 8-l/2% bonds of 1994-99 issued
November 15, 1974.
Exchanged by Federal Reserve banks and Government accounts for 8-l/2%
bonds of 1994-99 issued November 15, 1974.
Exchanged by Federal Reserve banks and Government accounts for 7-1/4%
notes of Series K-1976 issued December 31, 1974.
Exchanged by Federal Reserve banks and Government accounts for $692
million of 7-1/8% notes of Series D-1978, $400 million of 7-3/8%
notes of Series C-1981 and $36 million of 7-7/8% bonds of 1995-2000
issued February 18, 1975.
Exchanged by Federal Reserve banks and Government accounts for $4
million of 7-1/8% notes of Series D-1978 and $114 million of 7-7/8%
bonds of 1995-2000 issued February 18, 1975.
Exchanged by Federal Reserve banks and Government accounts for $2,300
million of 7-5/8% notes of Series E-1978, $1,233 million of 8% notes
of Series A-19S2 and $630 million of 8-1/4% bonds of 2000-05 issued
May 15, 1975.
Exchanged by Federal Reserve banks and Government accounts for 8-1/4%
bonds of 2000-05 issued May 15, 1975.
Exchanged by Federal Reserve banks and Government accounts for $1,372
million of 7-7/8% notes of Series F-1978, $902 million of 8-1/8% notes
of Series B-1982 and $313 million of 8-3/8% bonds of 1995-2000 issued
August 15, 1975.

Treasury Bulletin

48
.PUBLIC
Table PDO-8.

-

DEBT OPERATIONS.

Foreign Series Securities (Nonmarketable)

Issued to Official Institutions of Foreign Countries
(Payable in U.S. Dollars; dollar amounts In millions)

August 1975

49
.PUBLIC
Table PDO-8.

-

DEBT OPERATIONS.

Foreign Series Securities (Nonmarketable)

.Issued to Official Institutions of Foreign Countries

—Continued

(Payable in U.S. Dollars; dollar amounts in millions)

Month of
activity

Treasury Bulletin

30
.PUBLIC
Table PDO-8.

-

DEBT OPERATIONS.

Foreign Series Securities (Nonmarketable)

Issued to Official Institutions of Foreign Countries— Continued
(Payable in U.S. Etollars; dollar amounts in millions)

Itonth of

31

August 1975
PUBLIC DEBT OPERATIONS.
Table PDO-8. -Foreign Series Securities (Nonmarketable)
Issued to Official Institutions of Foreign Countries-Continued
(Payable In U.S. Dollars; dollar amounts in millions)

Month of
activity

Securities

Issue

Treasury Bulletin

52
PUBLIC DEBT OPERATIONS.
Table PDO-8.

-

Foreign Series Securities (Nonmarketable)

Issued to Official Institutions of Foreign Countries— Continued
(Payable in U.S. Dollars; dollar amounts in millions)

August 1973

53
PUBLIC DEBT OPERATIONS.
Table PDO-8.

-

Foreign Series Securities (Nonmarketable)

Issued to Official Institutions of Foreign Countries—Continued
(Payable in U.S. Dollars; dollar amounts in raillione)

Month of

Treasury Bulletin

54

PUBLIC DEBT OPERATIONS.
Table PDO-8.
Issued

"Footnote

at end of table.

lo

-

Foreign Series Securities (Nonmarketable)

Official Institutions of Foreign Countries-Continued

August 1973

53
PUBLIC DEBT OPERATIONS
Table PDO-8.

-

Foreign Series Securities (Nonmarketable)

Issued to Official Institutions of Foreign Countries— Continued
(Payable in U.S. dollars; dollar amounts in millions)

Month of

Treasury Bulletin

56
PUBLIC DEBT OPERATIONS.
Table PDO-8.

-

Foreign Series Securities (Nonmarketable)

Issued to Official Institutions of Foreign Countries— Continued

^Payable in U.S. dollars; dollar amounts in millions)

Month

oi'

August 1975

37
.PUBLIC DEBT OPERATIONS.
Table PDO-8.

-

Foreign Series Securities (Nonmarketable)

Issued to Official Institutions of Foreign Countries— Continued
(Payable in U.S. dollars; dollar amoxjnts In mllllona)

Month of
activity

38

Treasury Bulletin
.PUBLIC
Table PDO-8.

-

DEBT OPERATIONS.

Foreign Series Securities (Nonmarketable)

Issued to Official Institutions of Foreign Countries— Continued
(Payable in U.S. dollars; dollar amounts in millions)

August 1975

59
.PUBLIC

DEBT OPERATIONS.

Foreign Series Securities (Nonmarketable)
Table PDO-8.
Issued to Official Institutions of Foreign Countries — Continued
-

(Payable in U.S. dollars; dollar amounts in millions)

Month of

Treasury Bulletin

60

PUBLIC DEBT OPERATIONS.
Table PDO-9.

-

Foreign Currency Series Securities (Nonmarketable)

Issued to Official Institutions of Foreign Countries
(Dollar amoxints in millions)

August 7975

61
.PUBLIC
Table PDO-9

-

DEBT OPERATIONS.

Foreign Currency Series Securities (Nonmarketable)

Issued to Official Institutions of Foreign Countries

—Continued

62

Treasury Bulletin
.UNITED STATES SAVINGS BONDS.

are the only savings bonds cur-

Series E and Series H

rently sold.

A

-

sale since J.une

D were sold fromMarchl,

Series
30,

been on sale since May

Series E has

and Series H has been on

F and G were sold

1952.

Series

J

1935

1,

1,

1952.

through April 30,

from May

1,

Table SB-1.

-

1941.

through April

19^1

and K were sold from May

19<il,

Series

1,

1952

through

April 30, 1957.

Details of the principal changes in issues,

interest yields,

maturities, and other terms appear in the

Treasury Bulletins of April 1951, May 1952, May 1957, October
and December 1959,

September

May and

October 1961,

1970; and the Annual

June 1968,

Report of the Secretary of

the Treasury for fiscal years 1966 through 1974,^

Sales and Redemptions by Series, Cumulative through July 31, 1975
(In millions of dollars)

and

.

August 1973

63
.UNITED STATES SAVINGS BONDS,
Table SB-3.

-

Sales

and Redemptions by

Periods, Series

E through K

(In millions of dollars)

Period

Sales 1/

125,162

1941-65
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975,

Calendar years
1941-64
1965
1966
1967
1968
1969
1970
1971
1972

:

1973
1974

Months:

1974-July
Aiig

Sept
Dot
Nov
Dec

1975-Jan
Feb

Mar
Apr
May
June

.

.

,

July.

.

.

601

Accrued
discount

Sales plus
accrued
discount

Redemptions 1/
Sales
price

_2/

Amount outstanding

Accrued
disccunt 2/

Interest-bearing
debt

Matured
non- interestbearing debt

Treasury Bulletin

64
UNITED STATES SAVINGS BONDS,
Table SB-3.

-

Sales and Redemptions by Periods. Series

E through K-Continued

[In millions of dollars)

Redemptions 1/
Sales 1/

Fiscal years;
1941 65

Accrued
discount

Sales plus
accrued
discount

.Sales

price

^

Accrued
discount

^

Exchange of
E bonds for
H bonds

Amount
outstanding
(interestbearing debt)

: ..

August 1975

65
.UNITED STATES SAVINGS BONDS,
Table SB-4.

-

Redemptions of Matured and Unmatured Savings Bonds

fin millions of dollars

Matured
Series E
and H
Fiscal years
1951- 5C)
1960
1961
1962
1963
196-;

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975

,

Calendar yeari
1951-58
1959
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

63,230
8,557
5,819
5,716
5,273
5,164
5,346
5,724
5,922
5,982
6,339
6,748
5,425
5,338
5,536
6,681
6,517

25,788
126
673

12,971
2,304
1,733

593

,668
,593
,754
,938
,973
,059
,289
,417
,762
,481
,036
,121

56,300
8,772
6,732
5,595
5,602
5,021
5,252
5,441
6,000
5,793
6,133
6,639
6,295
5,244
5,365
6,210
6,833

23,301
4,701
3,033
2,555
2,387
2,043
2,171
2,148
2,472
2,386
2,652
2,686
2,841
2,022
2,053
2,508
2,627

250
057
184
253

471
548
560
2,792
2,490
2,043
2,126
2,729
2,544

Ktonths :

1974-July .
Aug
Sept
Oct
Nov
Dec

.

.

.

. .

.

1975-Jan
Feb
Mar
Apr
May
June

. .

July

. .

.

.

.

.

.

.

592

519

105

2,724
2,545
11,763
2,433
1,944
1,633
1,656
1,617
1,889
1,932
080
,041
,443
,601
,827
,014

2,047
2,505
2.622

1

Unmatured

Series
and H

Unclassi fied
10/

.

.

.

66

Treasury Bulletin
.UNITED STATES SAVINGS BONDS
Table SB-6.

-

Sales by States, Series
I.

E and H ^Combined

In thousands of dollars at issue pi-ie

1974

Inception
through
June 1475

1975

Sep*

lv,'>

2/

Alabama
Alaska
Arizona

1,S38 345
119 180
823 485

5,212
723
3,935

5,478
554
3,871

5,173
761
3,504

5,142
578
3,678

5,448
520
4,140

5,375
667
3,331

5,486

Cal if omia

995 678
12,619 834
1,411 828

2,725
36,692
5,054

2,662
36,168
4,495

2,599
29,898
4,992

2,496
38,455
4,500

2,562
36,728
4,664

2,527
30,232
4,625

2,725
35,082
4,805

Colorado

2,901 713
590 855
2,189 201

10,609
2,081
9,955

9,032
2,482
7,807

8,401
2,660
8,440

10,380
2,546
6,939

9,323
2,945
8,392

8,952
2,705
10,103

2,896 h23
2,167 842
661 448

11,454
7,427
2 242

13,111
8,038
1,785

11,419
8,319
1,578

12,016
7,241
2,519

13,468
8,233
1,874

Idaho
Illinois
Indiana

396 225
13,850 142
5,123 251

333
32,906
15,989

868
35,416
15,319

910
31,716
14,319

891
33,607
15,244

A, 366 907

7,451
5,711
6,220

3,607
5,978
6,819

7,662

2,636 169
2,051 294
1,735 496
668 092
2,313 863

5,023
1,844
11,794

4,791
1,416
13,656

5,133 363
10,584 644
3,129 893

14,082
34,393
7,246

942 568
5,147 674
770 445

3,946

3,995

3,814

46,142
5,242

2,703
41,392
4,013

2,917
39,211
5,367

2,985
38,235
5,097

2,585
36,462
4,438

10,959
2,650
7,013

9,071
3,083
11,346

11,095
2,823
8,767

10,960
3,089
7,628

9,230
2,524
9,562

10,744
2,538
9,096

11,075
7,686
1,404

9,238
7,535
1,897

20,415
3,883
2,372

29,109
7,258
2,638

13,558
7,272
2,039

14,541
8,225
2,510

14,412
7,455
1,565

330
36,142
16,934

838
37,630
15,902

915
41,614
17,141

1,051
39,060
18,464

312
39,669
17,541

819
37,601
15,992

943
42,349
17,510

890
37,379
16,354

6,446

7,217
5,579
5,733

8,158
5,391
5,976

7,661
5,653
6,512

9,424
6,609
7,215

8,922
6,369
7,869

8,763
5,742
6,907

9,207
6,225
6,615

8,789
6,083
7,197

7,774
6,104
6,349

5,077
1,509
12,897

4,839
1,632
11,464

4,392
1,622
10,344

4,973

14,643

5,531
2,372
10,594

6,02^
1,587
16,138

4,788
1,724
16,981

5,491
1,480
12,605

5,246
1,416
15,492

5,625
1,935
15,447

15,700
39,313
8,984

14,604
33,360
3,136

14,495
35,038
3,287

14,976
30,008
9,901

14,295
59,586
7,805

17,364
21,942
8,680

16,596
32,974
10,838

17,750
36,269
8,775

16,327
29,732
10,152

16,162
27,516
9,965

17,890
29,680
8,644

2,257
15,070
1,479

2,210
14,865
1,634

2,492
15,229
1,446

2,241
14,729
1,521

2,397
14,837
1,S38

2,382
15,005
1,471

2,255
16,145
1,516

2,845
15,843
2,058

2,253
14,391
1,592

2,383
15,546
1,526

2,624
14,556
1,545

2,437
15,763
1,550

500
963
1,362

1,972
914
1,131

5,326
943
1,015

5,184
611
1,197

5 ,'.9',

1 ,000

5,372
904
1,352

5,312
1,381
1,157

4,940
1,004

1 ,374

5,289
975
1,448

l,'iOO

5,143
999
1,180

4,752
961
1,290

4,387
1,120
1,315

7,190 569
520 616
20,300 429

26,489
1,956
55,523

25,482
1,899
60,076

22,449
1,961
45,333

26,879
1,965

28,082
2,059
53,650

30,445
1,950
62,991

27,642
2,199
58,249

28,531
1,887
62,026

28,185
1,962
68,323

31,648
2,034

48, 62'"'

24,331
1,345
50,617

74 , 310

26,312
2,082
57,724

2,176 443
766 59 s
11,332 212

8,091
1,451
3-,, 156

8,748
1,572
32,377

7,852
1,450
34,148

7,434
1,347
28,395

7,536
1,553
31,530

9,362
1,474
33,343

5,961
1,424
40,465

8,713
2,819
35,191

10,154
1,639
36,103

7,626
1,436

7,277
1,717

9,616
1,447

396

34,893

2,171 779
1,590 650
15,833 089

5,469
4,322
51,174

5,325
4,662

306

5,117
4,370
55,061

5,265
4,270
54,913

5,985
4,411
56,160

5,956
7,538
71,189

5,267
4,629
59,607

5,501
4,605

"".6,176

5,156
4,953
47,650

5,583
4,758
52,192

795
1,073
947 585

2,172
2,732
1,393

2,175
3,635
1,914

2,319
2,776
1,301

2,249

2,624
3,695
1,323

2,954
3,415
1,980

2,354
3,806
2,767

2,332

1,846

1,857
2,668
2,127

166

5,968
19,641
2,493
724
10,765
7,936
4,648
10,808
628

6,635
18,668
1,513
569
12,836
6,601
5,302
10,335
653

6,355
19,111
3,173
641
12,665
6,353
5,414
10,178
722

6,298
21,155
2,519

6,871
17,764
2,319

6,562
18,534
2,511

7,275
20,183

582

534
11 576

571

6,762
23,291
2,082
680
11,103
7,766
5,631
11,832

263
420

37

308
363
70

300
366
43

13,834

>26,253

,401

37,391

;

Louisiana
Maine
Maryland

Mississippi
Missouri
Montana

Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
New York

Carolina
North Iiakota
Ohio
No2'th

Oklahoma
Oregon
Pennsylvania

Tennessee
Texas
Utah

1,966
6,^00
731
227
3,317
2,739
1,819

Vermont
Virginia
Washington

4

374

206
940
98

3

033
499
810
3,847
310 107

West Virginia
Wisconsin
Wyoming
Canal Zone
Puerto Rico
Virgin Islands

Total

y

2,577 882
251 851
426 942

Rhode Island
South Carol Ina
South Dakota

Undistributed and adjustment
to Monthly Statement of
the Public Debt of the
United States

5,922
627

4,447

Iowa
Kansas
Kentucky

Massachusetts
Michigan
Minnesota

5,719
631

5,365
627
4,013

Connecticut
Delaware
District of Colmiibia
Florida
Georgia
Hawai i

May

5,983
798
5,875

,

Arkansas

Apr.

250

109 767
115 390
790

+

1.0S,-;,75iJ

179,30^,330

,

354

i/

540,396

574 , 32

3

5,604

^09,010

Source; Monthly Statement of the Public Debt of the t),S. and geograpnic
reports from Federal Reserve banks
1/ Sales of Series H began June 1, 1952.
2/ Figures include exchanges of minor amounts of Series F and J Bonds and
Savings Notes exchanged into Series H Bonds from January 1960 through
October 1964. Series J for H through October 1969 and U.S. Savings
Notes from February 1972 to date; however, they exclude Series E Bonds

5

,

4,788
57,355
3,295

9,819
7,949
4,786
10,112
631

>

^^7,57"

ij

560

2,4 94

6Q7
12,269

4,718
59,855

34

,

58,906
3,559
1,985

2,795
3,497
2,042

6,488
18,519
2,207

7,154
20,376
2,3'i7

6,649
19,223
2,289

5,885
19,369
2,574

628
14,322
3,441
5,991
11,513
1,371

635
12,581
7,619
5,727
11,151
742

635
12,915
7,225
5,336
11,774
714

746
12,113
7,457
5,863
11,079
732

308
48c

131
477

498
454
43

269
421
72

'31,93'

,018

15,435

301,938

39,407

';65,173

2,256

286

192

319

331
34

325
35

493

469

53

55

•i'.

28, 771

-109,903

187,398

-25,054

-46,577

745,0'^2

"^91,831

684

5,648

2,246

260

8,096
6,173
11,254
1,112

34,145

5,551
688

2,165
3,043
2,043

3,<

6,716
4,498
10,712
706

''^3,415

3/

,

13,059
6,832
5,090
9,786
645

,

67

1

579

3,475

38

exchanged for Series H.
reports
Excludes data for period April 1947 through December 1956, when
data
In previous issues of the Treasury Bulletin,
were not available.
Possessions,"
for May 1941 through March 1947 were included in "Other
in "Adjustment
and data for calendar years 1957 and 1958 were included
to Monthly Statement of the Public Debt of the U.S."
Includes a small amount for other possessions.

67

August 1975
UNITED STATES SAVINGS NOTES,
United States savings notes were on sale May

through June 30, 1970.
fey

1,

1967

The notes were eligible for purchase

individuals with the simultaneous purchase of Series E

savings bonds.

demption

and information on investment yields of savings

notes appear in

the Treasury Bulletins of March 1967 and

June 1968; and in the Annual Report of the Secretary of the
Treasury for fiscal year

The principal terras and conditions for purchase and re-

Table SN-1.

-

Sales

and Redemptions by Periods

(In millions of dollars)

197/i.

Treasury Bulletin

68
.OWNERSHIP OF FEDERAL SECURITIES.
Table OFS-l.

-

Distribution of Federal Securities by Classes of Investors and Types of Issues

Q

5

'

August 7975

69
.OWNERSHIP OF FEDERAL SECURITIES.

Table OFS-2.

-

Estimated Ownership of Public Debt Securities by Private Investors
:

Far values 1/ in billions of dollars)

Nonbank investors

Total
privately
held

Individuals

(commer-

cial
banks
2/

Series

i°4.:;

199.8
196.7
203.8

12.7
93.8
74.5
65.6
61.8
58.4
61

.

61.1
63.4
58.8
63.7

63.6
207.1
203.0
207.0
198.5
200.5

194.6
197.9
197.8
204.5
206.4
212.7

69.1
63.5
62.0
57.3
59.5
56.2
59.5
65.2
67.5
61.5
60.3

206.7
210.0
208.0
214.8
214.3
219.5

55.3
62.1
62.5
67.2
65.1
67.1

?1

'-4.3

-"
.

?

',

.

2

20.7
137.9
133.8
139.0
138.0
136.0
134.8
133.7
136.4
137.9
140.2

9.4
63.9
64.1
67.4
66.3
65.4
64.6
64.8
65.2
66.1
64.8

:36.3
138.0
139.5
145.0
141.2
141.0
138.5
138.4
132.5
137.0
144.8
152.5

64.8
63.5
65.2
65.0
66.6
65.9
66.3
64.9
64.4
63.7
66.3
69.4

151.4
148.0
145.5
147.7
149.2
152.3
153.9
156.3
158.2
158.6
158.9
159.8

69.7
66.1
64.6
65.3
65.5
65.9
65.9
68.0
68.5
69.5
70.7
71.9

158.7

72.8
74.2
70.4
73.5
74.2
75.1
77.3
80.8
81.8
81.2

1."
30.8
10.1
•?4.''

34.5
34."
34.9
35.3
36.0
36."
^•.5

38.2
39.3
40.1

40.9
41.4
41.5
41.6
42.1

42.4
42.
42.

=>

43.6
44.2
','', .

4b. u

46.7
47.3

222.5
217.1
220.5

'\2
63.9
58.2
60.7

213.4
219.2
207.7
222.4
219.2
228.5
214.8
222.0
218.0
229.9

54.8
57.4
55.5
63.8
59.7
66.0
55.3
56.8
52.6
62.7

229.7
247.9

168.7
182.6
183.6
194.8

75.4
73.2

52.5
53.8

244.4
262.5

61.0
65.3
60.9
67.7

73.2
73.9

55.4
57.1

259.7
261.7

58.8
60.3

200.9
201.4

75.9
77.3

58.9
59.8

261.2
261.1
263.8
260.7
259.4
256.4

60.2
59.0
59.5
56.8
54.4
53.2

201.0
202.1
204.3
204.0
205.0
203.2

77.4
77.9
73.4
79.2
80.0
80.7

60.0
60.3
60.6
60.9
61.2
61.4

259.7
25Q.0
260.1
262.5
265.3

53.9
53.0
52.9
53.5
54.5

81.6

61.7

271.0

56.5

205.8
206.0
207.1
209.0
210.8
214.5

82.6
33.3
83.3
34.3
84.8

61.8
62.0
62.3
62.7
62.9

85.3
85.3

63.2
63.5
63.9
64.2

21

.

273.8
278.9
289.8
290.9

54.5

301.7

56.9
62.0
63.0
67.7

30!''.

69.2

2

161.
152.
158.
159.
162.
159.

165.3
165.5
167.2

219.3
222.0
227.8
227.9
234.0
234.0

85.7
36.1
86.6
87.1

Other
Series

47.

48.3
48.8
4Q.H
50.4
50.9
51.1
51.4
51.2
51.1
50.8
51.4

«4.6
65.0

Source:
Office of Debt Analysis in the Office of the Secretary.
1/ United States savings bonds. Series A-F and J, are included at
current redemption value.
Consists of commercial banks, trust companies, and stock savings
banks in the United States and in Territories and island possessions.
Figures exclude securities held in trust departments.
Includes partnerships and personal trust accounts.
Exclusive of banks and insurance companies.
Consists of the investments of foreign balances and international

State

MiiT.'..a

Savings bonds

F and H

33.4
231.6
208.3
204.6
199.9
1°4.3
1«6.3

V'

7/'

Other
eecurities

Insurance
companies

savings
banks

f^orpora-

tions

i^/

and
local

governments

Foreign
and international

other
investors
6/

Treasury Bulletin

10

TREASURY SURVEY OF OWNERSHIP, JUNE

The monthly Treasury Survey of Ovmershlp covers securities
issued by the United States Government, Federal agencies, Fed-

erally-sponsored agencies, and the District of Columbia.

30, 1975

tions in the September I960 Bulletin, and for State and local

governments in the February 1962 Bulletin.

The

banks and insurance companies included in the Survey currently

account for about 80 percent of all such securities held by
these institutions.

The similar proportion for corporations

Holdings by commercial banks distributed according

t.j

and for savings and loan associations is 50 percent, and for

Federal Reserve member bank classes and nonmember banks arn

State and local governments,

published for June 30 and December 31.

<iO

percent.

Data were first pub-

Holdings by corporate

lished for banks and insurance companies in the May 19^1 Treas-

pension trust funds are published quarterly, first appearing in

ury Bulletin, for corporations and savings and loan associa-

the March 195i Bulletin.

Table TSO-1. -Summary of Federal Securities

August 1975

71

.TREASURY SURVEY OF OWNERSHIP, JUNE
Table TSO-2.

-

30, 1975,

Interest-Bearing Marketable Public Debt Securities
by Type and Maturity Distribution

Footnotes at end of Table TSO-5.

Table TSO-3.

-

Interest-Bearing Marketable Public Debt Securities by Issue

Tireasury Bulletin

12
.TREASURY SURVEY OF OWNERSHIP, JUNE
Table TSO-3.

-

30, 1975.

Interest-Bearing Marketable Public Debt Securities by Issue-Continued

-

73

August 1973

TREASURY SURVEY OF OWNERSHIP. JUNE
Table TSO-4.

-

Securities Issued by

:'

Far values - in millions

30, 1975

Government Agencies
ol"

dollarn

j

Held by iTive:;torE covered in Treasury Jurvey
Total
amount
outs land
\w 1/

Type

Export-Import Bank
Debentures:

.

f^tovem-

ment accounts and
Federal
Reserve
banks

:

1976
1977
1978
1978
1978
7
1979
6.60
May
1979
Issues to State and Local Govts,
(Mtg. Backed Bonds) 8/
Participation Certificates
5.705?

6-1/4
6.45
8.35
7.30

U .S

Dec.
Aug.
Feb.
Aug.
Nov.
Mar.

400
200
143
250

Total
Federal Housing Administration
(Debentures)
Government National Mortgage
Association:
Participation Certificates
Postal Service
Bonds
6-7/8
Feb.
1982-97
Tennessee Valley Authority
Bonds
1Q76
7-1/4
July
8.10
Apr.
1979
Nov.
4.40
1985
July
1086
4-5/8
1Q?7
4-1/2
Feb.
5.70
May
1992
Nov.
6-3/8
1992
Oct.
8-1/4
1994
ci
Mar.
1995
"-1/4
1005
June
".30
Oct.
1096
7
Jan.
1997
May
1997
7.35
Jul
7.35
1997
Oct.
7.40
1997
7.35
Jan.
1998
1Q98
Apr.
7.35
7-3/4
July
1998
7.70
Oct.
1998
199"
8.05
Jan.

:

:

:

:

:

Total
Total Government agency securitie
covered by survey

101;

100
50
50
45
70
60
100
100
50
150
150
150
150
150
100
150
150
100
liJC

12
27
32

5,562
commercial
bankr

^73

L

risu ranee

c onpan

i 'r-i;

niutual

savings
banks

^86
.saving.':

289
life

AA3 fire and loan
casualty, apGOOiaand
t ionc
marine
J

corporations

.^tate and local

Held by

Memorandum:
Held by

t^ovjimme nts

all

5;-,8jO

31>
General
f'indn

other
187
pension
and ret i rement
funds

corporate
fKTision

tru£t

Treasury Bulletin

74

TREASURY SURVEY OF OWNERSHIP, JUNE
Table TSO-5.

-

30, 1975

Securities Issued by Government-Sponsored Agencies

and the District of Columbia

August 1973

75

TREASURY SURVEY OF OWNERSHIP.JUNE
Table TSO-5.

-

30, 1975.

Securities Issued by Government-Sponsored Agencies

and the District of Columbia— Continued

Treasury Bulletin

16

TREASURY SURVEY OF OWNERSHIP, JUNE
Table TSO-5.

-

30, 1975.

Securities Issued by Government-Sponsored Agencies

and the District of Columbia— Continued

.

August 1975

11
TREASURY SURVEY OF OWNERSHIP, JUNE

30, 1975,

Footnotes to Treasury Survey of Ownership Tables

1/

U

Securities issued by the Treasury and Government agencies that are
classified as debt under the new xmified budget concept. For debt
subject to limitation, see Table FD-9.
Includes trust departments.
Included with all other investors are those banks, insurance corapanies,
savings and loan associations, corporations, and State and local
government funds not reporting in the Treasury Survey. Also included
are certain Ooveminent deposit accounts and Government-sponsored
agenc ies
Consists of corporate pension trust funds and profit-sharing plans
which involve retirement benefits. The data are compiled from quarterly reports by bank trustees who report total number of funds
It is
administered and Public Debt and Agency Securities held.
estimated that these fxinds account for approximately 90 percent of
Federal Securities held by all corporate pension trust funds. Since
the data are not available each month, the regular monthly Survey
includes holdings by these funds under "Held by all other private

investors." The quarterly data are presented as supplemental
information in a memorandum column accompanying the Survey for each
reporting date, beginning with December 31, 1953.

Data on holdings of nonmarketable public debt were no longer collected
beginning with July 1974 Treasury Survey Of Ownership.
6/ Includes Ebcport-Import Bank and Government National Mortgage Association participation certificates.
7/ Includes matured securities outstanding on which interest has ceased.
8/ Direct Placements with State and Local Governments with various
interest rates and maturity dates.
2/ Includes securities issued for use as collateral for short-term
borrowings.
10/ Obligation of the Federal Home Loan Mortgage Corporation. The
capital stock of the Federal Home Loan Mortgage Corporation is held
by the twelve Federal Home Loan Banks.
»
Less than $500,000.
"2/

Treasury Bulletin

78
.TREASURY SURVEY

-

COMMERCIAL BANK OWNERSHIP, JUNE

The tables which follow report the security holdings of
those commercial banks included in the Treasury Survey of Own-

ership by type of bank and by type of security.

The figures in

Commercial bank

30, 1975.

ownership was first published in the May

19Ai issue of the "Treasury Pulletin" based on the Survey datf
for December 31,

1943.

It has appeared at semiannual

or

the columnar headings indicate the number of reportirg banks in

quarterly intervals since that time and is now being published

each class.

for the June 30 and December 31 Survey dates.

Table TSC-1.

-

Summary

of Interest-Bearing Public Debt Securities

(Par values

-

in millions of dollars)

..

.

,

August 1975

79

^TREASURY SURVEY
Table TSC-3.

-

-

COMMERCIAL BANK OWNERSHIP, JUNE

Interest-Bearing Marketable Public Debt Securities by Issue
i'

Tar values

Held by
5,562

I'reacui'v

Bills

Re<7ular weekly'
and annual maturing
'

1975
1975....
1975
1975
1975....
1975....
1976....
1976
1976
1976
19.6
1976

July
Aug.
Sept.
Oct.
liov.

Deo.
.';in.

heb.

Mnr.
Apr.
(Jay
J'j-ie

Total Treasury bills

Treasury Notes

:

5-7/8:?

A'jg.

1975-C..

S-3/3
7
7
5-7/8
6^1/4

Sept.
Nov.
Dec
Feb.

1975-C,..

8

Mar.

5-3/4
6
6-1/2
8-3/4
5-7/8
£^1/2
7-1/2
8.25
6^1/2
6-1/4
7-1/8
7-1/4
6

May
May
May

Feb.

June
Aug.
Aug.
Aug.

Sept.
Oct.
Nov.
Nov.
Dec.
Feb.
Feb.
"ar.
Apr.

3
t-1/,:

7-3/3
1^3

May
May
May

'4

{^7/3
9
6-1/2
7-3/4
7-3/4

June
Aug.
Nov.
Feb.

^1/4

May

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

Aug.
Aug.
Nov.

6

7-7/8

^1/4
6-5/8
7

6-7/3
9
7

7-3/8
7-3/4

1975-D..
1975-H .
1976- F..
1976^A..
1976-H..
197fr-E..

1976-M..
1976- B..
1976-1..
197«vL..
197^^0..
1976-C..
1976^J..
1976-0..
1976-D..
197e^N..
197evK..
1977- F..
1977-A..
1977-G..
1977-H..
1977-1..
1977- C..
1977-D..
1977-J..
1977- E..
1977-E..
197S-A..
1978-D..
1978- E..
1973-1'..
1973- B..

May
Aug.

1979-D..

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

1979- B..
1979-C..
1930-A.,
1980-B..
1981- A.,
1931- C.,
1931- P..
19S2-A.

May
Exchange Series
8

1979-A^

Total Treasury notes
.

reasuTY Bonds
May
4-lA.S
June
3-1/4
Feb.
4
Nov.
J- 1/2
7
Aug
Feb.
6-3/8
Aug.
6-3/8
May
3-1/4
6-1/8
Nov.
Aug.
4-1/4

,

:

1975-35,
1973-831980...
1930...
1931
1982...
1984...
1985...
1986...

1937-92

Footnotes at end of Table TSC-5.

30, 1975.

-

in miiiioru; of doiirirc)

Treasury Bulletin

80
-TREASURY SURVEY
Table TSC-3.

-

-

COMMERCIAL BANK OWNERSHIP, JUNE

Interest-Bearing Marketable Public Debt Securities by Issue-Continued
p.-jr

Foot.notes at pnd of Table TSC-"^.

30, 1975

values

-

in millions of dollarsj

August 1975

81

TPBiASTTBV

SURVEY COMMERCIAL BANK OWNERSHIP, JUNE
-

Table TSC-5

30, 1975

Securities Issued by Government-Sponsored Agencies

and the District of Columbia
in

millions of dollars)

82

Treasury Bulletin
.TREASURY SURVEY

-

COMMERCIAL BANK OWNERSHIP. JUNE

Table TSC-5.

30, 1975.

Securities Issued by Government-Sponsored Agencies
and the District of Columbia— Continued
-

(Par values

-

in millions of dollars

Federal Reserve member banks
Held by
5,562

Issue

commercial
buriks 1/

Federal Home Loan Banks (Continued
Bonds:
1981
May
7.30^
Nov.
7-3/8
1983
7-3/8
Nov.
1983-93
May
8.75
1984
FHLMC Mtg. Backed Bonds: ^/
7.05
Aug.
1976
Feb.
1977
6.15
1976-95
8.60
Nov.
1977-96
7.75
Aug.
1982-97
May
7.15
FHLMC Mtg. Backed Certificates: 2/
Mar.
2005
8.20
Issues to State and local govts...
J

Total

5

5

7.10
6.85
7.15
6.80
6.70
7-1/2
8.70
6.70
9.10
7.30
6.90
8.15
7.30
7.30
8.10

12

New York
City

3,112
country

9

154

Chicago

other

42
65
92
29

38
50

73
23

35
1

25

16

19
36
1

58
15

3

3

31

15
15

16
6

Feb.

July
July
Oct.
Oct.
Jan.
Jan.
Feb.
Apr.
Apr.

July
July
Oct.
Jan.
Apr.

July
Oct.
Jan.
Apr.
Apr.

July
July
Oct.
Jan.
Jan.
Apr.

July
Oct.
Jan.

July
Oct.
Apr.

July
Jan.
Apr.
Apr.
Oct.
Oct.

July

5

47

41

35

31
1

145

105

.37

56

4

3

3

6

6

3

3

2
1

38

36

1,147

:

103
131
105
196
102
136
140
200
68
150
118
82

93
142
150

72
110
84
161

5

24

60

3

7

31

1

2

101
17
30

16

19

5

64
14
39

4

106
153
46
111
33
64
74
122
112

5

4
9

32

21
33

41
42
44
59

533

31

21
22
35

43

38

61

43

71
33
27
67
40
43
40

45
55

1,454

Banks

2,275
nonmember
banks

:

Total

6-1/4
8-1/4
5-3/8
7.05
7.15
7.45
8-1/4
7-1/2
6.35
8.70
5-1/8
7.60
6.40
9.15
7.35

3,287
member
banks

5,062

Federal Intermediate Credit Banks
Debentures:
July
1975
5.70^
July
9.60
1975
Aug.
1975
8.45
1975
Sept.
8.05
Oct.
1975
7.35
Nov.
1975
7.05
1975
Dec.
6.15
1976
Jan.
6.05
Jan.
1976
6.65
Feb.
6.60
1976
1976
Mar.
6.15
Jan.
1977
7.10
1977
8.70
Apr.
Jan.
1978
7.10
Jan.
1979
7.40

Federal Land
Bonds:
4-1/8J
5.70
8.30
7.20
7.40
6.25
9.20

Reserve cit

34

48
22
39
34

18
19
21
38

732

463

3
35

:

1973-78
1975
1975
1975
1975
1976
1976
1976
1976
1976
1976
1976
1976
1977
1977
1977
1977
1978
1978
1978
1978
1978
1978
1979
1979
1979
1979
1979
1980
1980
rgso..
1981
1981
1982
1982
1982
1982
1983
1985

Total
Footnotes at end of table.

35

32

17

9

111
59
47
113
75
85
12
104
96
13
92
128
205
135
135
102
117
17
250
92
82
207
49
102
44
135
144
93
76
75
40
28
43

76

10

62

39
30

3

45
43

27
17

7

2

6

5

72
74

10
15

60

7

1

62
103
150
88
100
77
91
12
194
67

16
45

6
44

32
22
6
30
25

37

10
28
10
26
22
1

7
85
24

58

54

108
77
71
67
53
5

88
42
46
63
20

55

47
34

25
25
4
56
25
27
30
10
23
15

55

3

1

177

33

73
19

7

34

5

1

38
24

2

38
50
3

54

35

46
56

19
22

27
25
29
12
23
19
27
11
12

9
14
11
10
12
12
13
8
11
10

1,543

824

39

79
29
99
125
76
66
60

31
53
37

3,350

2,527

40

34

3

16

29
17
36
26
27
23
42
27

37

59

20
18
23

35

29

29
11

39

25
¥
5

7
1

15
9

11
16
6

11

:

83

August 1975
TREASURY SURVEY COMMERCIAL BANK OWNERSHIP, JUNE
Table TSC-5.

30, 1975,

Securities Issued by Government-Sponsored Agencies
and the District of Columbia— Continued

(Pir values

-

in millions of dollars)

Federal Reserve member banks

Issue

Held by
5,562

commercial
banks 1/

Reserve city
3,287
member
banks

12
New York

City
Federal National Mortgage Association
Discount notes
Debentures
Sept.
1975
6.80«
1975
Sept.
7.50
Deo.
1975
5.70
1975
Dec.
8.25
Mar.
1976
5.65
Mar.
1976
7-1/8
June
1976
5.85
June
1976
6.70
June
1976
10
1976
Sept.
5.85
1976
6-1/8
Sept.
1976
Sept.
7.50
1976
Deo.
6.25
1976
7.ii5
Deo.
1976
Deo.
8.45
1977
4-1/2
Feb.
Mar.
1977
6.30
Mar.
1977
7.05
June
1977
6.50
June
1977
6-3/8
1977
June
7.20
6-7/8
Sept.
1977
Sept.
1977
7.85
Deo.
1977
7-1/4
Dec.
1977
7.55
1978
Mar.
6.70
1978
Mar.
8.45
1978
June
7.15
1978
June
7.45
Sept.
1978
7.15
Deo.
1978
6.75
1978
Dec.
8.95
Mar.
1979
7.25
June
1979
7.85
June
1979
9.80
Sept.
1979
6.40
Sept.
7.80
1979
Deo.
1979
6.55
Deo.
1979
7.75
1980
6-7/8
Mar.
Mar.
1980
7.25
June
1980
8.50
1980
7.50
Sept.
Dec.
1980
6.60
Mar.
1981
7.05
June
1981
7-1/4
Sept.
1981
7-1/4
Sept.
1981
9.70
Deo.
1981
7.30
8-7/8
Mar.
1982
June
1982
6.65
Sept.
1982
6.80
Deo.
1982
7.35
June
1983
6.75
June
1983
7.30
6.75
Sept.
1983
8
Deo.
1983
6-1/4
June
1984
Sept.
1984
7.95
Dec.
1984
6.90
7.65
Mar.
1935
7
Mar.
1992
June
1992
7.05
1982-97
Deo.
7.10
Capital Debentures:
1980
Apr.
7-5/8*
1996
4-3/8
Oct.
1982-97
Oct.
7.40
Mtg. Backed Bonds:
1930-90
8-5/8*
Oct
Issues to State and Local Govts....
.

Total
District of Columbia
Bonds:
Dec.
4.20?

:

1970-79

165

150

160

9

15/,

Chicago

other

3,112
country

2,275
nonmember
banks

Treasury Bulletin

g^
TREASURY SURVEY

Footnotes

1/
2/

-

COMMERCIAL BANK OWNERSHIP, JUNE

to

30, 1975

Treasury Survey-Commercial Bank Tables

Includes trust companies and stock savings banks but excludes securities held In trust departments.
Data on holdings of nonmarketable public debt were no longer collected
beginning with July 1974 Treasury Survey of Ownership.

J/

*

Obligations of the Federal Home Loan Mortgage Corporation. The capital
stock of the Federal Home Loan Mortgage Corporation is held by the
twelve Federal Home Loan Banks,
Less than 5500,000.

85

August 1973
.MARKET QUOTATIONS ON TREASURY SECURITIES, JULY
Current market quotations shown here are over-the-

31,

1975

listed include all regularly quoted public marketable secu-

counter closing bid quotations in the New York market for

rities issued by the United States Treasury.

the last trading day of the month, as reported to the Treasury

issued by Federal agencies and guaranteed by the United

by the Federal Reserve Bank of New York.

The securities

States Government are excluded.

Securities

86

Treasury Bulletin

.MARKET QUOTATIONS ON TREASURY SECURITIES, JULY
Table MQ-2.

-

Treasury Notes— Continued

31, 1975.

August 1975

87

....
.
,
.

Treasury Bulletin

88
AVERAGE YIELDS OF LONG -TERM BONDS.
Table AY-1.

Average Yields of Long-Term Treasury, Corporate, and Municipal Bonds by Periods

Aa new
corporate
bonds 2/

Treasury
Period

-

bonds 1/

S.

I.

A.

new Aa
municipal
bonds 2/

Treasury
bonds 1/

Aa new
corporate
bonds 2/

Monthly series

-

S.

I.

A.

new Aa
municipal
bonds

^

Treasury
bonds 1/

Aa new
corporate
bonds 2/

S.

I.

A.

new Aa
municipal
bonds '^

Treasury
bonds 1/

.4.15

July.
Aug.
Sept.
Oct..
Nov.
Deo..

4.1"
4.14

4.44

4.1e.

4.4<3

4.10
4.14 1/
4.14

4.49

.

.;.i4
4. Ic
.'..20

...lo

4.'0

4.13

4'.

43

4.49

3.08
3.05
3.15
3.18
3.15
3.20

4.40
4.47
4.45
4.51
4.76
4.86

3.10
3.10
3.15
3.15
3.12
3.10

4.86
4.95

4.99
5.19
5.44
5.36

1965
Jan.
Feb..
Mar.
Apr.
May.
Jime.

V

4
4

1'

4

.

.

July.
Aug.
Sept.
Oct.

15

43
52
57

14 5/
14
1-'

IS
16

39
28
40
23 1/

6.86
6.44 1/
6.39
6.53
6.94
6.99

7.10

5.9b
6.14
6.20
6.11
6.25
6.32

97

9.09
9.08
9.00
9.14
8.97
8.13

6.22
6.00
6.15
6.25
6.05
5.20

6.53
6.85 A/
6.41
6.25
6.30
6.35

4.10
4.25
4.35
4.23
4.37
4.47

5.92
5.84
5.71
5.75
5.96
5.94

7.63
7.54
7.62
7.76
8.25
8.15

5.40
5.10
5.00
5.11
5.80
5.89

6.56
6.54
6.81
7.04
7.09 i/
7.02

8.21
8.60
9. 04
9. 39
9.59

4.45
4.20
4.30

5.91
5.78
5.56
5.46
5.48
5.62

8.24
8.14
7.90
7.72
7.67
7.54

5.96
5.62
5.20
4.87
4.92
5.02

7.18
7.33 1/
7.30
7.22
6.93
6.77

10.18
10.30
10.44
10.29
9.22
9.47

7.36
7.57
7.53
7.77
7.61

4.99
5.06
5.29
5.30

9.17
8.84
9.48
9.81
9.7b

6.50
6.30
6.69
6.85
6.96

7.6.^

.26

6.68
6.66
6.77 J,/
7.05
7.01 V5/
6.86

9.27

6.59

7.72
7.59
7.72
7.66
7.46
7.50

.28
.19
.26
.OQ

6.89

9.56

6.70

3.40
3.50
3.50
3.55

5.90
6.06

3.83

3.90

6.06
6.30
6.33
6.53
6.87
6.93

3.90
3.85
4.00
4.10
4.30
4.35

6.57
6.57
6.80
6.79

7.00
7.02

6.63
6.59
6.24 5/
5.

Dec.

3.30
3.30
3.35
3.45

Jan.
Feb..
Mar.
Apr.
May.
June.

3.65
3.63
3.65
3.45
3.60
3.70

5.74
5.86
6.05
5.34
5.35
6.05

7.29
7.33
7.76
7.54
7.62
8.04

4.75
4.80
5.10
5.13
5.20
5.60

5.62
5.67
5.66
5.74
5.64

July.
Aug.
Sept.
Oct..

3.80
4.10
3.93

Nov.

3.90
3. SO

6.07
6.02
6.32
6.27
6.52
6.81

8.06
8.05
8.i6
8.46
8.94
9.22

5.60
5.90
6.05
5.90
6.05
6.65

5.59
5.59
5.70
5.69
5.51

3.15

Nov.

.

4.30
4.50
4.63

V

1969

3.85

.

Dec.

new
corporate
bonds 2/
A.l

Treasury
bonds 1/

S.

I.

V

5.59

V

5.63

Period

Treasury
bonds 1/

Aa new
corporate
bonds 2/

I.

7.61
7.67
7.75

y

5.22

7.73

5.02
5.04
5.13

7.97
8.45
8.10
7.97
7.95
8.09

5.22
5.40
4.98
4.98
5.14
4.97

5.19
5.25
5.42
5.61

5.89
5.92

6.75
6.55
6.64
6.33
6.33
6.86

1975

V

S.

A.

new Aa
municipal
bonds

4.99
5.11

1974

1972

3.

A.

new Aa
municipal
bonds

6.55
6.25
6.15
6.60
7.00

1971

6.91
6.54
6.69
6.88
7.00
7.28

.

V

9.00
8.84
9.00
9.09
9.53
9.70

5.53
5.35
5.55
5.59

5.09
5.04
5.09
5.24
5.36
5.66

3.20

I. A.

new Aa
munic ipal
bonds i/

1973

1968

3.00
3.08
3.10
3.05
3.10
3.20

S.

averages of daily or weekly series

19t7
Jan.
Feb.
Mar.
Apr.
May.
June.

Aa new
corporate
bonds 2/

Treasury
bonds 1/

corporate
bonds 2/

I.

A.

new Aa
municipal
bonds 2/

August 1975

89
.AVERAGE YIELDS OF LONG TERM BONDS.

o
d

o
LJJ

CL

o

o
00

o

o

p
XT)

O

O

Treasury Bulletin

90
.INTERNATIONAL FINANCIAL STATISTICS.

Table IFS-3 presents an area breakdown of United States
liabilities to official institutions of foreign countries.

The tables in this section are designed to provide data
on United States reserve assets and liabilities and other
statistics related to the United States balance of payments
A number of changes
and international financial position.
were introduced in the May 1967 and July 197^ issues of the
Bulletin to increase the usefulness of this section.

Table IFS-1 shows the reserve assets of the United States,
including its gold stock, special drawing rights held in the
Special Drawing Account in the International Monetary Fund,
holdings of convertible foreign currencies, and reserve position in the International Monetary Fund.
Table IFS-2 brings together statistics on liabilities
to foreign official institutions nSliiuid liabilities to
all other foreigners which are used in the United States
balance-of -payments sxaiistics.

Table IFS-1.

-

Table IFS-<; shows United States Treasury nonmarketable
bonds and notes issued to official institutions of foreign
countries.

Table IFS-5 sets forth the factors which affect the
United States position in the International Nfcinetary Fund.

Table IFS-6 presents a measure of weighted-average
changes in exchange rates between the United States dollar
and the currencies of certain other countries.

U.S. Reserve Assets

(In millions of dollars)

August 1973

91

INTERNATIONAL FINANCIAL STATISTICS
Table IFS-2.
U.S. Liabilities to Foreign Official Institutions
and Liquid Liabilities to All Other Foreigners
-

fin millions of Jollara

1

Liabilities to foreign countries
Official institutions 2/

End of

calendar
year or
month

Liquid
liabilities
to IMF
arising from
gold transactions 1/

Shortterm
liabilities
reported
by banks
in U.S.

Marketable U.S.

Treasury
bonds
and
notes 2/

r

...

r

,

Treasury Bulletin

92
.INTERNATIONAL FINANCIAL STATISTICS.
Table IFS-3.

-

U.S. Liabilities to Official Institutions

of Foreign Coi^ntries, by Area
(In millions

--'f

dr,ilar..O

Total
fore ign
countries

Western
Europe
1/

1963

14,4.^5

8,508

1,789

1,058

2,740

154

WbA

15,786

9,325

1,812

1 ,283

3,028

160

1965

15,825r

8,825r

1,702

1,550

3,309

194

245

7,771

1,333
1,333

1,310
1,310

3,900
3,955

278
278

248
248

10,321

1,310

1,582

4,428

250

303

8,070
8,062

1,867
1,866

1,865
1,865

5,043
4,997

259
248

303
302

7,074 A/
7,074 5/

1,624
1,624

1,888
1,911

4,552
4,552

546
546

291
291

End of
calendar year
or month

1966 i/

,840r
895r

1967

7,77ir

Latin
American
Republics

Other
countries
2/

178

1968 1/

17,407
17,340

1%9 i/

15,975 i/
15,998

1970 i/

23,736
23,775

13,620
13,615

2,951
2,951

1,681
1,681

4,713
4,708

407
407

414
413

1971 i/ 1^.

=1,209
50,651

30,010
30,134

3,980
3,980

1,414
1,429

14.519
13^823

415
415

871
870

1972

61, 526

34,197

4,279

1,733

17,577

777

2,963

3,853

2,544

10,887

768

J,

I»,ltl9

18,604

3,161

V

1973

66,814 6/

45,717 6/

197/,

76,623r

44,150r

197A-Jurie...

70,030

43,200

4,201

4,022

14,012

1,854

2,741

July...
Aug
Sept...
Oct
Nov .
Dec

71,117

43,002
42,292
42,649
43,006r
43,178r
44,150r

4,12;
3,953
3,819
3,805

3,705
3,662

3,951
4,157
4,445
4,046
3,768
4,419

15,235
15,554
16,299
17,329
13,673
18,604

2,055
2,272
2,850
2,947
3,204
3,161

2,749
2,801
2,654
2,689
2,656
2,627

43,289
44,706
45,778r
45,025
45,237
45,173

3,621
3,616
3,546
3,251
3,101
3,008

3,659
4,223
4,390
4,506
4,605
4,723

19,555
20,274
19,441r
20,062
20,425
20,457

3,232
3,356
3,433
3,493
3,448
3,800

2,562
2,450
2,588
2,710
2,917
3,269

.

1975-Jan
Feb
Mar,,
Apr .
.

.

..
.

May p.
June p.

71,02<3

72,716
73,822r
75,184r
76, 623
75,918
73,625
79,176

79,047
79,733
80,430

3,662

Data represent short-term and long-term liabilities to the official institutions of foreign countries, as reported by banks in the
United States; foreign official holdings of marketable and nonmarketable U.S. Government securities with an original maturity of more
than one year except for nonmarketable notes issued to foreign official nonreserve agencies; and investments by foreign official reserve
agencies in debt securities of U.S. Federally-sponsored agencies and
U.S. corporations.
The table does not include certain nonliquid
liabilities to foreign official institutions which enter into the calculation of the official reserve transactions balance by the Departs
raent of. Commerce.
Includes Bank for International Settlements and European Fund.
Includes countries in Oceania and Eastern Europe, and Western Etjropean
dependencies in Latin America.
Data on the two lines shown for this date differ because of changes in
reporting coverage. Figures on the first line are comparable in

Note;

1/
2/

^

^
^

6/
p
j.

025

2,627

coverage to those shown for the preceding date; figures on the secona
line are comparable to those shown for the following date.
Includes $101 million increase in dollar value of foreign currency
liabilities due to revaluation of the German mark in October 1969.
Data on the second line differ from those on the first line because
certain acco^mts previously classified as "official institutions" are
included with "banks"; a number of reporting banks are included in the
series for the first time; and U.S. Treasury liabilities payable in
foreign currencies to official institutions of foreign countries are
increased in value by $110 million to reflect market exchange rates
as of December 31, 1971.
Includes $162 million increase in dollar value of foreign currency
liabilities revalued to reflect market exchange rates.
Preliminary,
Revised

93

Auoust 1973
_

INTERNATIONAL FINANCIAL STATISTICS,

Table IFS-4.

-

Nonmarketable U.S. Treasury Bonds and Notes

Issued to Official Institutions of Foreign Countries

..
.

.
.

J

Treasury Bulletin

94
INTERNATIONAL FINANCIAL STATISTICS
Table IFS-5.

-

U.S. Position in the International Monetary Fund
(In millions of dollars)

Transactions affecting IMF holdings of dollars
during period
Calendar year
or nonth

Payments
of

subscriptions in
dollars
2,063
1,031

1946-58.
1959
1960
1961
1962
1963
196^....
1965
1966....
1967
1968....
1969
1970
1971
1972
1973
1974

Net
gold
sales
by IMF
1/

Transactions
in

foreign
currencies 2/

600

525
435
680

776

-84

1,155

22
712 6/

150
,362

541 7/
754 7/

200
-133

1974-July.
Aug..
Sept.
Oct..

Transactions by
other countries
with IMF

U.S. transactions with IMF

IMF net
income

in

dollars

Purchases
of
dollars

Repurchases

Total
change

U.S.

quota

-2,922

,098

2
11

-139
-149
-822
-110
-194
-282
-282
-159

442
580
521
719
207

16
17
16
18
12
15

5

-lU
-806
-1,343
-854
-24

268
741
40

-1,073

792
1,336
442
-135
626
29
266
165
1,313

29

-18
-383
-326
-14
-59
-10

7,059
6,675
6,349
6,335
6,276
6,265

8/

87
83
79
78
78
78

1,021
1,384
1,713
1,739
1,816
1,852

-33
-121

6,232 8/
6,111 8/

77
76

1,908
2,065

-152

5,959
5,974
5,934
5,952

-94
-870
-1,034
1,929
1,350
694
721
-1,265

-14
-378
-320

1975-Jan..

-4

-29

Feb..
Mar..

-19

-102

-5

-6

-151
-18

4
39

-30

-21

10

-5

-57

15
-41
18

-3

-33

-36

-9
-50

Nov.

Dec.

Apr.
.

July

-4

Note:

1/

2/

The initial U.S. quota in the International Monetary Fund was
$2,750 million. The U.S. quota was increased to $4,125 million in
1959, $5,160 million In February 1966, and $6,700 million in December
1970, and revalued to $7,274 million in May 1972 and $8,083 million
In October 1973 as a result of changes in the par value of the dollar.
Under the Articles of Agreement, subscription payments equal to the
quota have been made 25 percent in gold and 75 percent in dollars.
Represents net Fund sales of gold to acquire U.S. dollars for use'ln
Fund operations.
Does not include transactions in gold relating to
gold deposits or gold Investment {see Table IFS-2).
Positive figures represent purchases from the Fund of currencies of
other members for equivalent amounts of dollars; negative figures
represent repurchases of dollars, including dollars derived from
charges on purchases and from other net dollar income of the Fund.
The United States has a commitment to repurchase within 3-5
years
but only to the extent that the Fund's holdings of dollars exceed'
75 percent of the U.S. quota.
Purchases of dollars by other
countries reduce the U.S. commitment to repurchase by an equivalent
amount.

4/

Beginning January 1970, Includes doUars obtained by countries other
than the United States from sales of gold to the Fund.
Represents the United States gold tranche position in the Fund I'the
United States quota minus the Fund's holdings of dollars),
which is
the amount that the United States could purchase in foreign
currencies automatically if needed. Under appropriate conditions,
the United States could purchase additional amounts equal
to the
United States quota.

4/

792
2,128
2,570
2,435
3,061
3,090
3,356
3,521
4,834
4.740
3,870
2,836
4,765
6,115
6,810
7,531
6,265 8/

-4
-5
-6
-5

May
June

Percent
of

U.S.

reserve
position
in IMF
at end of
period

^

-47

20
20
19
25
-28
-47
-33
-59

IMF holdings
of dollars at
end of period

i/

8/
8/

i/
3/
8/

52

62
59
74
75
81
85
94
92
75
55
71
91
94
93
78

1,958
1,997
1,555
1,690
1,064
1,035
769
863 i/
326
420
1,290
2,324
1,935
585
465
552
1,852

S/

74
74

8/

73

8/

74

2,194
2,168
2,218
2,179

5,916 8/

73

2,135

8/

Includes $259 million gold subscription to the Fund in June 1965 for
a U.S. quota increase which became effective on February 23, 1966.
In figures published by the Fund from June 1965 through January 1966,
this gold subscription was included in the U.S. gold stock and

excluded from the reserve position.
Includes $30 million of special drawing rights.
2/ Represents amount payable in dollars to the Fund to maintain the
value of Fund holdings of U.S. dollars.
8/ Excludes currency valuation adj'ustments as follows (in millions of
dollars)
Payable to
Payable to
the U.S.
the IMF
6/

1974-July.
Aug..
Sept.
Oct..

20
102

14
42
62
90

Nov.
Dec.

1975-Jan

75
108

Feb

Mar
Apr
May
June
July
Less than $500,000.

64
30

49
224

August 1975

95
.INTERNATIONAL FINANCIAL STATISTICS.
Table IFS-6.

-

Weighted-Average of Exchange Rate Changes
(Percent change relative to exchange rates as of end-May 1970)

End of calendar
year or month

for the Dollar

Treasury Bulletin

96
.CAPITAL MOVEMENTS.

Background
Data relating to capital movements between the United
States and foreign countries have been collected since 1935)
pursuant to Executive Order 6560 of January 15, 193'+, Ebcecutive Order 10033 of February 8, 19'+9> and Treasury regulations
promulgated thereunder. Statistics on the princii>al types
of data and the principal countries are published monthly
in the "Treasury Bulletin." Reports are filed with the Federal Reserve Banks by banks, securities brokers smd dealers,
and nonbanking concerns in the United States. These statistics are then consolidated, and are published by the Treasury
as promptly as possible.
The report forms and instructions used in the collection
The
of the statistics have been revised a number of times.
most recent general revision of the report forms became effective with reports as of May 31, 19631/
The present form of the published presentation of the
"Capital Movements" statistics was introduced in the May
1969 issue of the "Bulletin." The principal changes were
the rearrangement of the tables to bring together in separate
sections all the data relevant to the same statistical series;
the expansion of the time series on aggregate liabilities
and claims reported by banks to show more detailed breakdowns
by type of holder and type of liability' and claim; and the
presentation of statistics not previously published on the
short-term liquid claims of Istrge nonbanking concerns.

Basic definitions
The term "foreigner" as used in the Treasury reports
covers all institutions and individuals domiciled outside
the United States, including United States citizens domiciled abroad, and the foreign branches, subsidiaries and
offices of United States banks and business concerns; the
central governments, central banks emd other official institutions of foreign countries, wherever located; and international and regional organizations, wherever located. The
term "foreigner" also includes persons in the United States
to the extent that they are known by reporting institutions
to be acting on behalf of foreigners
In general, data are reported opposite the foreign country or geographical area in which the foreigner is domiciled,
For a
as shown on the records of reporting institutions.
number of reasons, the geographical breakdown of the reported
data may not in all cases reflect the ultimate ownership of
the assets.
Reporting institutions are not expected to go
beyond the addresses shown on their records, and so may not
be aware of the country of domicile of the ultimate beneficiary.
Furthermore, U.S. liabilities arising from deposits of dollars
with foreign banks are reported generally in the Treasury
statistics as liabilities to foreign bajiks, whereas the liability of the foreign bank receiving the deposit may be to
foreign official institutions or residents of another country.

Data pertaining to branches or agencies of foreign official institutions are reported opposite the country to which
Data pertaining to interthe official institution belongs.
national and regional organizations are reported opposite
the appropriate international or regional classification
except for the Bank for International Settlements and the
European Fund, which are included in the classification "Other
Western Europe."

"Short-term" refers to obligations payable on demand
or having an original maturity of one yeeir or less.
"Longterm" refers to obligations having an original maturity of
more than one year, and includes securities having no con-

tractual maturity.

Reporting coverage
Reports are required from banks , securities brokers and
dealers, and nonbanking concerns in the United States, including the branches, agencies, subsidiaries, and other afInstitutions
filiates in the United States of foreign firms.
which have total reportable liabilities, claims or securities
transactions below a specified exemption level, based on the
average for the report dates during a six-month period, including the current report date, are exempt from reporting.
Banks file reports monthly covering their short-term
and long-term liabilities to and claims on foreigners; an
exemption of $500,000 is applicable to reports in each of
these categories. Twice a year they also report their shortterm dollar liabilities to foreigners in countries not shown
separately on the monthly report of liabilities. Banks,
securities brokers and dealers, and in some instances, nonbanking concerns, report monthly their transactions in securities with foreigners; the applicable exemption level is
$100,000.

Quarterly reports axe filed by exporters, importers, industrial and commercial concerns, financial institutions
other than banks and brokers, and other nonbanking firms if
their liabilities or claims are $500,000 or more. Such firms
also report the liquid portion of their claims for each monthend when they have reportable claims of $1 million or more.
The foreign credit and debit balances of securities brokers
and dealers are reported quarterly; the exemption level applicable to these reports is $100,000.

Description of statistics
Data collected on the Treasxury Foreign Exchange Forms
are published in the "Treasury Bulletin" in six sections.
Each section contains all the data relevant to the same statistical series, with tables showing time series by type and
country, and the detailed breakdowns of the latest available
data.

Section I covers the short-term and long-term liabilities
The
to foreigners reported by banks in the United States.
data exclude the holdings of dollsirs of the International
Monetary Fund derived from payments of the United States
subscription and from the exchange transactions and other
(Liabilities representing the "gold
operations of the Fund.
investment" of the Fund, however, are included. ) The data
also exclude U.S. Treasury letters of credit, and nonnegotiable, noninterest-bearing special notes of the United States
held by international and regional organizations.
Section II presents the short-term and long-term claims
on foreigners reported by banks in the United States, including
claims held for their own account and for the account of
their domestic customers
The data exclude convertible foreign currencies held by U.S. monetary authorities.
.

Sections III

and

IV show resi)ectively the liabilities

.

97

August 1973
.CAPITAL MOVEMENTS.

foreigners reported by exporters, importers, industrial and commercial firms, financial institutions
other than banks and brokers, and other nonbanking concerns
The data exclude the intercompany acin the United States.
counts of business enterprises in the United States with
their own brajiches emd subsidiaries abroad or with their for(Such transactions are reported by
eign parent companies.
business firms to the Department of Commerce on its direct
investment forms.) The data also exclude claims held through
United States banks. Separate figures are shown in Section
IV for the short-term liquid claims of large nonbanking concerns in the United States.
to, and claims on,

Section V contains data on transactions in all types
of long-term domestic and foreign securities by foreigners
reported by banks and brokers in the United States (except
nonmarke table U.S. Treasury notes, foreign series, and nonmarketable U.S. Treasury bonds and notes, foreign currency
series, which are shown in "International Financial Statistics" section. Table IFS-U).
The data cover new issues of
securities, transactions in outstanding issues, and redemptions of securities.
They include transactions executed in
the United States for the account of foreigners, and transactions executed abroad for the account of reporting institutions and their domestic customers.
The data include some
transactions which are classified as direct investments in
the balance of payments accounts.
The data exclude securities issued abroad by foreign subsidiaries of U.S. corporations, some of which are treated -in the balance of payments
as issues of U.S. corporations.

1/

The geographical breakdown of the data on securities
transactions shows the country of domicile of the foreign
buyers "and- sellers of the securities; in the case of outstanding issues, this may differ from the country of the
original issuer. The gross figures contain some offsetting
transactions between foreigners. The net figures for total
transactions represent transactions by foreigners with United
States residents; but the net figures for transactions of
individual countries ajid areas may include some transactions
between foreigners of different countries. Beginning with
data for I969, tziansactions between foreigners in new issues
not offered for sale to United States residents but managed
by underwriters in the United States are excluded from the
gross figures.

Section VI comprises two tables on the money credit
and debit balances, as appearing on the books of reporting
brokers and dealers in the United States, in accounts of foreigners with them, and in their accounts carried by foreigners
The data published in these sections do rxjt cover all
types of reported capital movements between the United States
and foreign countries. The principal exclusions are
the
intercompany capital transactions of business enterprises
in the United States with their own branches and subsidiaries abroad or with their foreign parent companies, and capital
transactions of the United States Government. Consolidated
data on all types of capital transactions are published by
the Department of Conmerce in its regular reports on the
United States balance of payments.

Copies of the reporting forms and Instructions may be obtained from the Office of Statistical Reports, Office of the Assistant Secretary for International
Affairs, Department of the Treasury, Washington, D. C. 20220 or from Federal Reserve Banks.

.
.
.. .

Treasury Bulletin

98
.CAPITAL
Section

I

-

Liabilities to Foreigners

Table CM-I-1.

-

Short-Term

MOVEMENTS.
Reported by Banks

Liabilities

in the

United States

by Type of Foreign Holder

(In millions of dollars)

Foreign countries
Official institutions l/

Total
shortterm
liabilities

End of
calendar year
or month

International and regional
Banks and other foreigners

T
Payable
Total

Payable

Payable
in
Ban}:s

foreign
currencies

NonIMF
gold
invest-

Payable in dollars

Dther
foreigners

loreign
currencies

ment 2/

14,383

13,641

7,917

7,Q17

5,724

3,413

2,252

59

742

200

1958

15,367

14,615

8,665

8,665

5,950

3,460

2,430

59

752

200

1959

17,261

16,231

9,154

9,154

7,076

4,601

2,398

77

1,031

500

1960

18,701

17,260

10,212

10,212

7,047

4,705

2,230

113

1,442

691

V

/'20,015

18,699
18,781

10,940
10,940

10,893
10,893

46
46

7,759
7,841

5,299
5,380

2,356
2,357

104
104

1,317
1,317

613
613

A/
A/

19,908r
19,874

11,997
11,963

11,949
11,915

48
48

7,911
7,911

5,251
5,251

2,564
2,564

95
95

2,050
2,084

800
800

21.330

12 467

12,437

30

8,863

5,713

3,046

104

1,547

739 A/

13,224
13,220

13,224
13,220

L0,625
L0,680

7,153
7,213

3,354
3,376

118
90

1,618
.1,618

LI, 006

7,360

3,587

59

1,479

93

.

-

1

1962

^....

1963

20,098

/'21,958
\_21,958

22,877
/'25,467

1964 1/

1^25,518

1965

1966 1/

24,072

13,066

13,066

(27,724

26,343
26,219

12,484
12,539

11,968
12,022

517
517

L3,859
L3,680

10,023
9,864

3,743
3,743

72

1,381
1,381

800
800

(30,505

29,370
29,232

14,034
14,027

13,882
13,876

152
152

L5,337
L5,205

11,132
11,008

4,128
4,120

77
77

1,287
1,273

800
800

31,717

30,234

11,318

10,855

463

14,298

4,444

173

1,483

800

1,409

/'30,657

1968

1969

V

/40,040
(40,199

38,631
38,786

11,054
11,077

10,851
10,874

202
202

>7,577
!7,709

23,412
23,419

3,939
4,064

226
226

1970

V

/41,719
(41,761

40,499
40,541

19,333
19,333

19,184
19,185

148
148

>1,166
?1,207

16,917
16,949

4,029
4,038

220
220

/55,404
(55,428

53,632
53,661

39,679
39,018 6/

39,521
38,854 6/

158
165 7/

L3,954
10,034
L4,643 6/ 10,721 6/

3,692
3,694

228
228

1972

60,607

5Q 284

40,000

1973

69,074

67,119

43,923

94,815

1971 i/ 6/.

1974

1974-June

.

July..
Aug...
Sept
Oct...
Nov. .
.

Dec.
1975- Jan...
Feb . .
Mar. ..
Apr . ,

May

p.

June p

800
800

25,551

1^27,599

1967 ^y

23,849
23,900

,

,

L9,2S4

14,340

4,618

325

127 8/

23,196

17,224

5,503

469

91,650

53,035

127

38,615

639

79,360

47,465

47,338

127

31,895

29,691
24,455

8,285

81,014

6,776

665

83,951
86,863
87,710
88,628
91,816
94,815

82,206
84,941
85,811
86,631

91,650

48,455
48,440
50,149
50,921
51,858
53,035

48,328
48,313
50,022
50,794
51,731
52,908

127
127
127
127
127
127

33,751
36,501
35,662
35,710
37,625
38,615

26,277
28,754
27,476
27,492
29,154
29,691

6,936
7,128
7,618
7,627
7,855
8,285

539
618
568
591
617
639

93,350
94,245
93,404
94,604
93,259
92,350

89,439
90,289
89,931
91,012
89,420
88,909

51,824
54,200
53,696
53,521
52,367
51,814

51,824
54,200
53,696
53,521
52,367
51,814

37,614
36,090
36,235
37,492
37,053

28,710
26,916
27,160
28,571
27,961
28,042

8,184
8,441

721

89,1*83

52,908

.095

8,3'-'4

8,179
8,428
8 460
,

733
682
742
665
584

international and
regional

1/

1957

1961 i/.

monetary

-

. ...

August 7975

99
MOVEMENTS,

.CAPITAL
Section

I

-

Reported by Banks in the United States
by Type of Liability
Foreign Countries

Liabilities to Foreigners

Table CM-I-2.

-

Short-Term
Part

A

-

Liabilities

(In millions of dollars)

Official institutions 1/

Banks and other foreignerc

Payable in dollars

Total
foreign
countries

End of

calendar
year
or month

Payable in dollars

Deposits
U.S.

Treasury
bills and
certificates

Time
2/

Other
short
terra

liabilities 2/

Payable
in
foreign
Gurrenc ies

Payable

Other foreigner::

in

Deposits

Other
Treasury shortbills and term
certifi
liabilicates
ties 2/
U.S.

Time

Demand

2/

Deposits

Time
2/

U.S.

ijther

Treasury
bills and
certificates

Ghortterm
liabilities 2/

foreign
currencies

1957

13,641

3,059

4,246

612

2,737

158

518

1,766

273

209

59

1958

14,615

3,511

4,392

762

3,017

131

312

1,951

306

174

59

1959

16,231

2,834

5,738

3,369

492

740

1,333

295

270

77

4,210

76

419

1,849

148

233

113

149

1960
1961

y.

1962

y...

.

17,260

3,038

6,193

932

18,699
18,781

389
389

6,412
6,412

1,092
1,092

46
46

4,854
4,917

43
43

402
420

1,976
1,977

U9

230
230

104
104

19,908
19,874

3,261
3,234

7,759
7,759

928
922

48
48

4,678
4,678

83
83

490
490

2,096
2,096

116
116

352
352

95
95

30

704

1,493

966

119

469

104

967
967

142
142

1,039
1,077

1,523
1,531

1,257
1,271

72
72

502
503

118
90

1963

21,330

1,402

2,451

7,548

1,036

196/i

23,849
23,900

1,591
1,591

2,820
2,816

7,554
7,554

1,259
1,259

1965

24,072

1,535

2,862

7,186

1,483

1,406

1,574

1,594

87

332

59

1966 y....

26,343
26,219

1,679
1,679

2,612
2,668

6,316
6,316

1,361
1,360

517
517

6,795
6,636

1,249
1,243

137
137

1,342
1,848

1,513
1,513

1,819
1,819

33
33

329
329

93

1967 2/

29,370
29,232

3,054
2,054

2,462
2,458

7,985
7,985

1,380
1,378

152
152

7,933
7,763

1,142
1,142

129
129

1,927
1,973

1,693
1,693

2,052
2,054

81
81

302

292

77
77

30,234

2,149

1,899

5,486

1,321

463

10,374

30

2,621

1,797

2,199

86

362

173

38,631
38,786

1,918
1,930

2,951
2,942

3,844
3,844

2,139
2,158

202
202

L6,745
16,756

1,988
1,999

20
20

4,658
4,644

1,709
1,711

1,311
1,935

107
107

312
312

226
226

40,499
40,541

1,652
1,652

2,554
2,554

13,367
13,367

1,612
1,612

U8
148

L2,376
12,385

1,326
1,354

14

3,202
3,197

1,688
1,638

1,886
1,895

131
131

325
325

220
220

53,632
53,661

1,620
2,504
1,327 Ij 2,039

32,311
32,311

3,086
3,177

158
165

2,130
6,995

y 1,660

1,660

1,663
1,666

96
96

274
271

228
228

1972

59,284

1,591

31,453

3,905

1973

67,119

2,125

3,911

31,511

6,248

1974

91,650

2,951

4,257

11,044

1974- June..

79,30)

2,643

4,277

34,656
33,745

July..
Aug...
Sept..
Oct...
Nov
Dec .

82,206
84,941
85,811
86,631
89,483
91,650

2,562
2,474
2,825
2,168
2,472
2,951

4,4^5
4,429
4,282
4,40c
4,058
4,257

1975-Jan. .
Feb...
Mar...
Apr,,,

89,439
90,289
89,931
91,012
89,420
88,909

2,185
2,058
2,323

4,296
4,306
4,303
4,193
4,331

y

1968.

1969

y.

1970

y
y y.

1971

. .

.

.

.

May

p.

Junep.

y
y
y
y

2,H7
2,175
2,564

4,243

V

4,102
5,006
5,027
4,941

72

7,047
3,399 ij

850
320

171

4,658

405

9,272

1,955

2,116

127 6/

6,941

529

9,743

2,143

2,359

8,253

6,673

127
127

7,689

1,931
996

232
95

19,275
15,675

2,710
2,418

3,796
2,915

277
107

33,749
32,687
32,955
33,634
34,467
34,656

7,571
8,722
9,960
10,591
10,734
11,044

127
127
127
127
127
127

7,105
6,890
7,096
6,361
7,622
8,253

1,165
1,4^4
1,625
1,896
1,795
1,931

204
200
258
268
253
232

17,803
20,220
18,497
18,967
19,484
19,275

2,435
2,396
2,721
2,574
2,638
2,710

2,967
3,150
3,264
3,422
3,608
3,796

175
145
179
193
207
277

1,359
1,437
1,454
1,438
1,402
1,502

539
613
568

36,531
38,840
39,015
39,316
38,372
37,007

8,813
8,996
8,054
7,864
7,489
8,000

7,362

1,998
2,048
1,808
2,102
1,820
1,948

158
129
101
107

19,193
17, 596
18,179
19,465
19,190
18,943

2,625
2,320
2,740
2,556
2,777
2,855

3,760
3,872
3,916
3,969
4,084
4,129

186
200
200
220
168
198

1,613
1,548
1,537
1,434
1,398
1,286

721
733
682
742
665
534

y

7,U2
7,072
6,897
6,857
7,075

Includes Bank for International Settlements and European Fund.
Time deposits exclude negotiable time certificates of deposit, which
are included in "Other short-term liabilities."
Data on the two lines shown for this date differ because of changes
Figures on the first line are comparable in
in reporting coverage.
coverage to those shewn for the preceding date; figures on the second
line are comparable to those shovm for the following date.
Data on thesecond line differ from those on the first line because
those liabilities of U.S. banks to their foreign branches and those
liabilities of U.S. agencies and branches of foreign banks to their
head offices and foreign branches which were preTiously reported as

bj

6/

U

93
77

481

325

933

469

1,502
1,336

639
665

591

617
639

deposits are included in "Other short-term liabilities"; certain
accounts previously classified as "official institutions" are included
with 'TDanks"; and a number of reporting banks are included in the
series for the first time.
Second line includes $7 million increase in dollar value of foreign
currency obligations revalued to reflect market exchange rates as of
December 31, 1971,
Includes $-15 million increase in dollar value of foreign currency
liabilities revalued to reflect market exchange rates,
Preliminary.
p

,

..
.

100

Treasury Bulletin
.CAPITAL MOVEMENTS.
Section

I

-

by Banks in the United States
Short-Term Liabilities by Type of Liability-Continued
Part B - International and Regional Organizations

Liabilities to Foreigners Reported

Table CM-I-2.

-

(

In millions of dollars)

Nonmonetary international and regional organisations 2/
End of

calendar year
or month

Total
international
and regional

IMF gold
investment;
U.S. Treasury
bills and
certificates 1/

Deposits

Treasury
bills and
certificates
U.S.

Time 2/

Other
short-term
liabilities 2/

i'5;7

742

200

50

1958

752

200

209

343

1959

1,031

500

76

449

1960

1,442

691 i/

219

532

1961

1,317

613 i/

354

294

55

1962 ^/

2,050
2,084

800
800

540
568

572
572

138
145

490

1963

1,547

739 ^/

70

384

215

138

196i

1,618

800

66

207

231

314

1965

1,47'>

800

42

200

170

266

1966

1,381

800

56

139

212

173

1967 2/....

1,287
1,273

800
300

67
67

124
120

17S
178

118
107

1^68

1.483

800

68

113

394

108

1969

1.413

800

62

83

244

224

1970

1,221

400

69

15a

211

381

1971 5/

1,772
1,767

400
400

73
73

192
192

211
211

896
892
800

(

1972

1,413

86

202

326

1973

1,955

101

83

296

197^

3,165

139

105

497

197^ -June.

1,653

106

66

91

1,390

July..
Aug..
Sept..
Oct...
Nov. .
Deo. .

1,745
1,921
1,900
1,997
2,333
3,165

120
81
127
125
128
139

66
67
69
89
89
105

51

93
285
497

1,508
1,627
1,629
1,690
1,830
2,424

1975-Jan .
Feb.,,
Mar..
Apr
May p.
June p

3,911
3,955
3,473
3,592
3,839
3,442

123

104

118
189
99
114

95
116
126
133
133

1,234
1,260
777
781
1,994
996

2,450
2,482
2,391
2,585
1,598
2,205

.

.

.

.

2/

.

Short-term U.S. Government obligations at cost value, and deposits
awaiting Investment (less than $500,000 on all dates shown), obtained
from proceeds of sales of gold by the International Monetary Fund to
the United States to acquire income-earning assets. Upon termination of investment, the same quantity of gold was reacquired by the International Monetary Fund.
Principally the International Bank for Reconstruction and Development
and the Inter-American Development Bank; excludes Bank for International Settlements and European Fund, Includes difference between
cost value and face value of securities in IMF gold investment
account ($14 million at end 1971).

108

2/

^
5/

*

146
75

2,424

Time deposits exclude negotiable time certificates of deposit, which
are included in "Other short-term liabilities,"
In addition, IMF gold investment included investments in U.S. Government bonds and notes which amounted to JIC^ million at end 1960,
$187 million at end 1961, and $61 million at end 1963.
Data on the two lines shown for this date differ because of changes
in reporting coverage.
Figures on the first line are comparable in
coverage to those shown for the preceding date; figures on the second
line are comparable to those shewn for the following date.
Less than $500,000.
Preliminary.
p

1

.
.

.

)

.

101

August 1975
.CAPITAL
Section

I

Liabilities to Foreigners

-

Table CM-I-3.
f

-

MOVEMENTS.
Reported by Banks

in the

United States

Short-Term Liabilities by Country

at end of period in millions of dollars'

Position

'alendar year

Country
1971
Europe
Austria
Belgium- LAixembourg.
Denmark
Finland
France
Germany
Greece
Italy
Netherlands
Norway
Portugal

1973

1/'

:

701

.

','01

1. „^

.M'"i

li.'

I,:.!

li-A)

,1'"

.,,441

i.,'"''l6

170
l,f!t!:-?

Spain
Sweden
Switzerland
Turkey
United Kingdom
Yugoslavia
Other Western Europe.
U.S.S.R
Other Eastern Europe.

1

.

18-,

2.857
=',011

1.

'1

117
1,4-3

1..

11
-1

J7,13r

Total Europe
Canada

.m41

Latin Ajnerica
Argentina
Bahamas 2/
Braz i
Chil"
Colombia
Cuba
Mexico
Panama
Peru
Uruguay
Venezuela
Other Latin American Republics..
Netherlands Antilles and Surinam
Other Latin America

3.H.,1

:

.'.(.I

'4-)

I'll

I'JI

isa

188

605
137
210

70'''

71 '

331

1'^
Ib^
10 R
963
656
87

1.-.?

lr,4

108

Total Latin America.

Asia
China, People's Republic of
( China Mainland
China, Republic of (Taiwan).
Hong Kong
India
Indonesia
Israel
Japan
Korea
Philippines
Thailand
Other Asia
:

39

258
312
89
63
I'iO

Total Asia.

Africa

1

'
.

15IJ

177

14. .''"•>

1''.843

2U

1

i;'u

l.'b

595

595

171
1,071

12

12
115
21

'(

16.<i32

:

Egypt.

Morocco
South Africa.
Zaire
Other Africa.

474

Total Africa.

Other countries:
Australia.
All other.
Total other countries....

957

Total foreign countries....

International and regional
International
European regional.
Latin America
Asian regional....
Afr'can regional..

53,632

53,661

1,332

1,327

-

Total international and regiorial
Grand total

768

939

.

8

8

298
129

298
129

1,772

1,767

55,404

55,428

1974

Mar.

May

p

June p

)

Treasury Bulletin

102
-CAPITAL MOVEMENTS,

Section I - Liabilities to Foreigners Reported by Banks in the United States
Table CM-I-4. - Short-Term Liabilities, by Type and Country, as of June 30, 1975
Preliminary
(Position in millions of dollars)

Short-term liabilities payable in dollars
To foreign banks and officisil institutions

Total
shortterm
liabilities

Count ly

Europe
Austria
Belgium- Luxembourg
Denmark
Finland
France
Germany
Greece
Italy
Netherlands
Norway
Portugal
Spain
Sweden
Switzerland
Turkey
United Kingdom
:

627
3,070

5,397
6,A61
254
2 , 29S
3,5 32

945
264
362

1,347
8,471
124

6,416

Yugoslavia
Other Western Europe
U.S.S.R
Other Eastern Europe

33

2,462
62
370

Total Europe

43,763

Canada

3,620

Latin America
Argent ina
Bahamas
Brazil
Chile
Colomb la
Cuba
Mexico
Panama
Peru
Uruguay
Venezuela
Other Latin American Republics
Netherlands Antilles and Surinam..
Other Latin America
:

989
2,181
1,081
289
400
7

1,82 3
473
219
154
3,724
1

,

^^05

134
983

13,961

Total Latin America
Asia:
China,

People's Republic of
China Mainland
China, Republic of (Taiwan)
Hong Kong
India
Indonesia
Israel
Japan
Korea
Philippines
Thailand
Other Asia
(

Total Asia

Africa

071
598
145
365

470
11 22^
"

361

697
370

4,756
20,119

:

Egypt

514

Morocco
South Africa
Zaire
Other Africa

75
141
61
3,400

Total Africa

Other countries
Australia
All other

4
:

Total other countries
Total foreign countries

International and regional
International
European regional
Latin American regional
Asian regional
African regional

:

Total international and regional..
Grand total

Total

Deposits 1/

Treasury
bills and
certificates

Short-term
liabilities
payable

To all other foreigners

U.S.

U.S.

Other 1/

[>eposits 1/

Treasury
bills and
certificates

in

Other 1/

fore ign
currencies

;

103

August 1973
MOVEMENTS.

.CAPITAL
Section

Table CM-I-5.

-

I

-

Liabilities to Foreigners

Reported by Banks

in the

United States

Short-Term Liabilities, Countries and Areas Not Regularly Reported Separately
(

Position at end of period in millions of dollars)

Calendar year
Apr.
1Q74

1971
Other Western Europe
Cyprus
Iceland
Ireland, Republic of
Malta
Monaco

10
10
41

Other Eastern Europe
Bulgaria
Czechoslovakia
Estonia
German Democratic Republic
Hungary
Poland
Romania

Other Asia
Afghanistan
Bangladesh 2/
Burma
Cambodia
Jordan
Laos
Lebanon
Malaysia
Nepal
Pakistan
Ryukyu Islands (including Okinawa)
Singapore
Sri Lanka ( Ceylon)
Viet Nam

Yemen (Aden)
Oil producing countries

1/

4

16
18

6

36

19

2

2

2

34
3

6

7
12

5

5

36

55

87
92
114
121
76
132

1/

62
123
57
78
117
6
18
42
19
50
17
10

3

27
58
41
61
22
20

1/

3

3

33
2

32

124
4
36

1

2

26

19

25
72

4
2

14

10
11

10

5

3

33

8
36

17

16

86
118
92
90
156
6
21
56
39

99
29

17

102
88
137
90
129
245
5

28
71
52
119

40
21

201
3

17
20
29

36
14
55
25

13
11
n.a.
n.a.
11
42
14

96
118
128
122
129
219
22

93
120
214
157
144
255
22

35

34

88
69

92
62
125

127
46
107

116
7

354
7

375

22
9
12

11
12
42

18
21
65

38

n.a.

100
8
610

3

5

3

2

4

4

19
n.a.
n.a.
n.a,

2

4

6

6

22

30

3

2

3

3

3

5

46
23
16
33
29
35

55
54

62

119

11

16
105

68
40
21
108

160
92
22
118

2/
10

5

54
22
19
38
18
57
4

4
159
3

2

59

2/

58

1/

J/

63
25
91

2/

2/

77

Ul

5

13

135

88

1

1

1

1

203

534

652

1,331

4,640

215
13
70
n.a.
3.941

23
11
1
8

32
57

111
79
1
20

110
118

67
95

59
76

3

2

10

38
22
195
7
17
8

6
23

23
274
6
46
13

30
393
6
35

42

179
4
263

17
19

1
1

1

10

9

31
2

2
1
6

23

331
8
78
15
2

164
13
98

8
22
13

20
29
257
9
736
20
1

245
14
126

3

18
7
31
39

452
22
2,295
17

4
13

11
32
33
n.a.
14
n.a.
13

2

3

3

3

2

4

13

11
10
7
28

12
7
6
22

12
17
11
66

11
19
13
22

14
21
23
n.a.
18

23
13

30

39
11

33
11

47

36

12

9
7

9

8
10

25
9

3

Data represent a partial breakdown of the amounts shown for the
corresponding dates for the "Other" categories in the regular monthly
series in the Treasury Bulletin.
Bermuda included with Bahamas prior to December 1972,

Note:

3

20
6

2/

Other Countries
New Zealand
U.S. Trust Territory of the Pacific Islands

10

3

19
59
16
10

.

53

4

23
10

2

Other Africa
Algeria
Ethiopia ( including Eritrea)
F. T.A.I. (French Somaliland)
Ghana
Ivory Coast
Kenya
Liberia
Libya
Mozambique
Nigeria
"Portuguse West Africa"
Southern Rhodesia
Sudan
Tanzania
Tunisia
Uganda
Zambia

62

7
21
29
10

3

16
34

^

8

4

100

_2/

19

5

69
41
99
79
75

Other Latin America
Bermuda T7
Belize (British Honduras)
British West Indies
French West Indies and French Guiana

3

6

4
14
2
2

Apr.
1975

9
17

3

2
2

Other Latin American Republics
Bolivia
Costa Rica
Dominican Republic
Ecuador
El Salvador
Guatemala
Guyana
Haiti
Honduras
Jamaica
Nicaragua
Paraguay
Trinidad and Tobago

2
11
16

6

5

Dec.
1974

1973

2/

Bangladesh included in Pakistan prior to April 1972.
in Japan after April 1972.
Includes Bahrain, Iran, Iraq, Kuwait, Oman, Qatar, Saudi Arabia
Syria, and the United Arab Emirates (Trucial States).
Not available.
•
Less than $500,000.

2/ Ryuiyu Islands included

^

11

Treasury Bulletin

104
-CAPITAL MOVEMENTS.
Section

I

-

Reported by Banks in the United States
Long-Term Liabilities by Type

Liabilities to Foreigners

Table CM-I-6.

-

(In millions of dollars)

Payable in dollars
End of

Total

calendar year
or month

long-term
liabilities

Foreign countries
International
Total 1/

Official
institutions

Cfther

foreigners

and regional

Payable in
foreign

103

August 1973
.CAPITAL
Section

I

-

MOVEMENTS.

Liabilities to Foreigners Reported

Table CM-I-7.

-

Long-Term

by Banks in the United States

Liabilities

by Country

-

,
.

106

Treasury Bulletin
.CAPITAL MOVEMENTS.
Section

II

-

Claims on Foreigners Reported by Banks
Table CM-II-1.

-

in the

United States

Short-Term Claims by Type

{In millions of dollars)

Payable in dollars

Knd of
calendar
year
or month

Total
shortterm
claims

K)57

Payable in foreign currencies

Collections
outstanding
Other
foreigners

Official
institutions

for
account of

reporting
banks and
domestic
customers

Deposits

Acceptances
made for
account
of foreigners

of

Other
shortterm
claims

reporting
banks and
domestic
customers
with for-

eimers

2,052

930

242

386

303

423

6Q9

147

401

439

428

421

<>56

198

181

Foreign
government
Other
short
term
claims

obligation;
and

commercial
and

finance
paper

15

1958

?,542

2,344

1,268

1959

2,599

2,407

1.309

351

4^8

460

516

582

192

178

15

594

3,135

1,2Q7

ZQO

524

432

605

1,233

460

222

238

4,177
4,234

1,646
1,660

329
32Q

699
709

618
622

694
700

1,837
1,874

543
543

342
343

200
200

642

686

1,967

4=«5

309

186

1960

^-

,

1961 1/

(^^

1Q62

-(5Q

4,606

186

774

832

2,214

384

543

343

6,810
7,333

2,652
2,773

223
221

1,374
1,403

1,055
1,150

1,007
1,135

2,600
2,621

552

601
624

342

5,344

196:^

/

7, 411

16

42

336

182
137

77
102

325

54

95

1964

1/'

1965

y

f7,b32
7,735

7,158
7,243

2,968
2,970

271
271

1,566
1,567

1,130
1,132

1,268
1,272

2,501
2,508

422
492

474
492

329

1966 1/

f 7,819
i 7,85 3

7,399
7,433

3,139
3,141

256
256

1,7391,739

1,143
1,145

1,367
1,288

2,450
2,540

443
464

420
420

240
241

70
70

110
110

1967 1/

f 8,583

8,158
8,132

3,137
3,150

30fc

1,603
1,616

1,228
1,228

1,511
1,552

3,013
3,013

498
467

425
425

287
287

74
70

63
67

40

73

352

84

3';2

89

79
74

1

\8,(£ib

1968
1969 1/
1970
1971 1/ 2/.
1972 1/
1973
1974

1974 -June.
Jiily..

Aug...
Sept..
Oct...
Nov
Dec
.

.

.

.

1975^an...
Feb...
Mar. ..
Apr., .

May

p

J\ane p

1/

2/

306

96

8,711

3,261

3,165

247

1,697

1,221

1,733

2,854

/'9,578
I 9,680

9,063
9,165

3,281
3,278

262
262

1,946
1,943

1,073
1,073

1,954
2,015

3,169
3,202

10,302

10,192

3,051

119

1,720

1,212

2,339

3,985

92

166

12,

223
231

2,613
2,080 2/

1,667
1,658

2,475
2,475

4,243
4,254

1,107
1.679 ;/

842
895

549
548

119
173

174
174

84 6

441
441

223
223

182
182

428

119
289

115
253

1),:72

12,

4,503
3,969

IS 471
15.676

14,
14,

5,674
5,671

16 3
163

2,975
2,970

2,535
2,538

3,269
3,276

3,204
3,226

2,478
2,657

846

20,723
38,889

20,061
37,680

7,660
11,313

284

4,538
7,352

2,838
3,579

4,307
5,637

4,160

382

U,223

3,935
9,506

662
1,210

32,436

31,479

11,409

390

7,685

3,334

5,107

7,649

7,^14

957

687

130

141

33,85^
35,357
34,451
34,593
36,784
38,889

32,851
34,551
33,533
33,563
35,756
37,680

10,766
11,549
10,557
10,002
10,968
11,313

480
453
528

6,715
7,750
6,678
6,299
7,102
7,352

3,571
3,346
3,352
3,332
3,426
3,579

152
295
245
356
345
637

9,205
9,481
9,552
10,05c
10,717
11,223

7,729
8,227
8,178
8,155
8,726
9,506

1,003
805
918
1,030
1,028
1,210

626
461
468
547
515
668

207
180
217
243
283
289

170
164
233
240
229
253

38,973
39,772
42,052
42,806
45,028
45,616

37,684
38,582
40,889
41,547
43,960
44,375

10,232
10,313
9,626
10,658
11,852
11,318

361
379
310
362

6,318
6,414
5,682
6,518
7,638
6,834

3,553
3,521
3,633
3,778
3,848
4,026

5,565
5,346
5,415
5,339
5,546
5,345

11,025
ll.OQO

10,863
11,833
14,507

1,289
1,190
1,162
1,260
1,068
1,240

719
609
626
764
478
591

351
336
290
241
301
335

219
244
246
254
290
314

!1:!,170

371

439
382

366
457

Data on the two lines shown for this date differ because of changes
Figures on the first line are comparable in
in reporting coverage.
coverage to those shown for the preceding date; figures on the second
line are comparable to those shown for the following date.
Data on the second line differ from those on the first line because
those claims of U.S. banks on their foreign branches and those claims

11 '41
,

ll,lt4l

iit.iog

10,961
10,639

15,601
17,074

of U.S. agencies and branches of foreign banks on their head offices
and foreign branches which were previously reported as loans are
included in "other short-term claims"; and a number of reporting banVs
are included in the series for the first time.
Prelimi.iary.

..

August 1975

107
.CAPITAL MOVEMENTS.
Section

II

-

Claims on Foreigners Reported by Banks
Table CM-II-2.

-

in the

United States

Short-Term Claims by Country

(Position at end of period in millions of dollars)
1Q75

Calendar year
Covrntry

1972 y'

Europe
Austria
Belgium- Luxembourg
Denmark
Finland
France
Germany
Greece
Italy
Netherlands
Norway
Portugal
Spain
Sweden
Switzerland
Turkey
United Kingdom
Yugoslavia
Other Western Europe.
U.S.S.R
Other Eastern Europe.
:

123
11.^

;71
2')

255
108
69
19
207
1^)6

125

Total Europe
Canada

Latin America
Argentina
Bahamas 2/
Brazil
Chile
Colombia

:

Cuba
Mex ico
Panama
Peru
Uruguay
Venezuela
Other Latin American Republics..
Netherlands Antilles and Surinam
Other Latin America

Total Latin America
Asia
China, People's Republic of
(China Mainland)
China, Republic of (Taiwan).
Hong Kong
India
Indonesia
Israel
Japan
Korea
Philippines
Thailand
Other Asia
:

Total Asia.

Africa

:

sfeypt

Morocco
South Africa.
Zaire
Other Africa.
Total Africa.

Other countries
Australia
All other

:

Total other countries....
Total foreign countries
International and regional
Grand total

.

\^3

197^

Mar.

Apr.

f/ay

p

June p

Treasury Bulletin

108
.CAPITAL

MOVEMENTS.

Section II
Claims on Foreigners Reported by Banks in the United States
Table CM-II-3. - Short-Term Claims, by Type and Country, as of June 30, 1975
-

Preliminary

.

109

August 1975
.CAPITAL
Section

II

-

MOVEMENTS.

Claims on Foreigners Reported by Banks
Table CM-II-4.

-

in the

United States

Long-Term Claims by Type

(In millions of dollars)

Payable in doll^trs
End 01

calendar year
or month

i^uyabie

Total
long- term
clainB

Total

n.a
n.a
n.a
n.a
n.a
n.a

1,174
1,362
1,545
1,698
2,034
2,160

19 57.
1958.
1959'.

1960.
1961.
1962.

1963-May 1/.
1963 1/.

1964 1/.
1965.
1966.
1967.
1968.
1969.
1970.
1971.

1972 1/.

n.a
n.a
n.a

2,293

2,293
2,379

2,260
2,346

660
730

273
273

1,323
1,342

33
33

2,337
3,030

2,834
3,028

2,781
2,811

725
728

397
397

659
685

217

3."

'71

255

3,971
4,283

3,777
3,995

703
716

701
729

2,372
2,550

195

4.

4,517
4,130
3,925
3,567
3,250
3,075
3.667

4,508
4,162
3,909
3,552
3,232
3,050
3,645

4,211
3,915
3,635
3,158
2,806
2,698
3,345

793
702
669
528
502
504
575

628
512
323
237
209
236
315

2, .790

2,702
2,642
2,393
2,096
1,958
2,455

297
247
274
394
426
352
300

9
18
15
16
18
25
22

4. '554

4,914
5,023

4,539
4,588

833
844

'10

375

5,063

40
40

931

5,996
7,155

5,924
7,090

5,446
6,481

7,087

7,021

6,475

1,160
1,331
1,622

July.
Aug..
Sept.
Oct..
Nov.
Dec..

7,115
7,05;
6,999
7,25C
7,251
7,155

7,048
6,987
6,928
7,180
7,179
7,090

6,502
6,448
6,386
6,571
6,561
6,481

1,490
1,456
1,419
1,445
1,377
1,331

1975-Jan..
Feb..
Mar. .
Apr.,

7,262
7,457
7,554
7,583
7,870
7,773

7,208
7,403
7,498
7,520
7,803
7,696

6,624
6,797
6,900
6,915
7,194
7,136

1,368
1,378
1,399
1,239
1,2S7
1,263

1/

n.a
n.a
n.a
n.a

Data on the two lines shewn for this date differ because of changes
Figures on the first line are comparable in
in reporting coverage.
coverage to those shown for the preceding date; figures on the second
line are comparable to those shown for the following date.

3,276
3,314
3,694

54

435
478
609
546

72
65

792

4,219
4,061

909
913
853
914
933
931

4,104
4,080
4,113
4,212
4,250
4,219

545
539
542
608
618
609

67
63
71
71
72

968
1,035
1,063
1,110
1,186

4,289
4,38*

583

1,213

Not available.
Preliminary.
Less than $500,000.

-1,438

4,566
4,721
4,660

606
598
605
610
559

ii,

foreign
currencies

ij.a

n.a
n.a

1973
1974,..,..
1974-June

May
June

Other
foreigners

Official
institutions

Other
long- term
claims

66

65
54
54
55

63

66
77

.

.

.

no

Treasury Bulletin
.CAPITAL
Section

II

-

MOVEMENTS,

Claims on Foreigners Reported by Banks
Table CM-II-5.

-

in the

United States

Long-Term Claims by Country
'

(Position at end of period in millions of dollars

)

Calendar year
Country
Apr.
Europe:

Austria
Belgiuni-Luxembourg.

18

.

Denmark
Finland
France
Germany
Greece

11
127
102
^-'

Italy

}}

Netherlands
Norway

13
18
93

porttigal

Spain
Sweden
Switzerland
Turkey
United Kingdom
Yugoslavia
Other Western Europe,
U.S.S.R
Other Eastern Europe.

8

130
35

Total Europe
Canada

Latin America
Argent ina
Bahamas 2/

:

123
A

Braz il
Chile
Colombia
Cuba
Mex ico
Panama
Peru
Uruguay
Venezuela
Other Latin Americcin Republics..
Netherlands Antilles and Surinam
Other Latin America

Total Latin America.

Asia

331
91
30

372
35
36
23
22<;

129
A

l,/,5f

:

China, People's Republic of
( China
Mainland )
China, Republic of (Taiwan).
Hong Kong
India
Indones ia
Israel

81
10
35

Japan
Korea
Philippines
Thailand
Other Asia

2A6

Total Asia.

R'^9

Africa
Egypt
Morocco
South Africa.
Zaire
Other Africa.

17
113

T-)

160
165

:

Total Africa..

Other countries
Australia
All other

:

222
IS

Total other countries....

Total foreign countries

International and regional
Grand total

.

2A0
3,b63

.

3,667

May p

August 1975

111

.CAPITAL

MOVEMENTS,

Claims on Foreigners Reported by Banks in the United States
Section II
Long-Term Claims, by Type and Country, as of June 30, 1975
Table CM-II-6.
Preliminary
-

-

.

.

..

,

Treasury Bulletin

112

_C/ PITAL MOVEMENTS.
Section III

-

Liabilities to Foreigners Reported by

Table CM-III-1.

-

Nonbanking Concerns

Liabilities by

United States

in the

Type

(In millions of dollars)

Short-term liabilities
End of
calendar year
or quarter -end
month 1/

Total
liabilities

Total

Payable in
dollars

Payable in
foreign
currencies

Long-term
liabilities

75

1957.

56b

4-11

428

1958.

A99

440

368

71

60

1959.

664

581

512

69

83

574
596

485
507

424
437

61

1960 2/

1961 -Mar. _2/.

674
691

583
600

510
525

73
76

756

673
684

563
572

111

113

83
94

569

109

155

June 2/.

778

89

70

91

Dec

S33

1962-June 2/

778
817

626
665

527
551

99
114

7Q8
805

637
644

508
513

129
130

1963

775

626

479

148

lg6A-June 2/

763
725

622
585

471
441

151^

Deo

807

700

556

144

94
958

810

600

210

1,089

827

262

329

1,784
1,815

1,371
1 386

1,027
1,039

343
347

414
428

1968

2,737

1,608

1,225

3,511
4,428

1,786
2,124

1

1,654

387
471

1,725

1969 2/

2,677

2,181

496

3,102

1970

5,780

1971 2/

5,863
5,901

2,704
2,763

2,229
2,301

475
463

3.15Q
3,138

6,659

3,119

2,635

484

3,540

6, 99 It

3,399r

2,921r

478r

3,592r

7,823r

3,962r

3,249r

713 r

3,867r

8,197r

4,382r

3,563r

819r

3,316r

8,646r

5,133r

4,168r

965r

3,514r

8,940r

5,600r

4,646r

954r

3,340r

9,443

5,766

4,851

915

3,677

5,723

4,860

862

3,924

Dec. 2/.

1965 2/

1966
1Q67 2/

1972

,

399

151

^

161

j
148
140

J
107

(

136
147

1.129

2,304

2j'

1973

1974-Mar

.

June.

Sept .

.

Dec

1975-Mar.p.

9,647

Breaks in series arising from changes in
amount to $5 million or less for any year are
cases, only the figiire comparable to that for
shovm,
Data are shown for calendar year ends and for
quarter ends for which figures are available.

Note:

1/

,

144

\

J

reporting coverage which
not shown; in such
the follcwing date is
most recent five
Data are also shown

2/

for earlier quarter ends when the reporting coverage changed.
Data on the two lines shown for this date differ because of
changes in reporting coverage. Figures on the first line are
comparable in coverage to those shown for the preceding date;
figures on the second line are comparable to those shown for
the following date, p Preliminary.
r Revised.

.

..

.

)

113

AniTNst 19^3
-CAPITAL MOVEMENTS.
Section

III

-

Liabilities to Foreigners

Table CM-III-2.

Reported by Nonbanking Concerns

Short-Term

-

Liabilities by

United States

in the

Country

(foeition at end of period in millionE of dollart

Calendar year

1974

1975

Country
1972

1971 1/
Europe
Austria
Belgium-Luxembourg.

y

:

66

136
9

226
17

4

7

8

9

12

134r
237
21
121r
114

177r
220

164r
246
28
13 7r
120r

Deninark

Finland
France
Germany
Greece

2

2

4

142
117

136
117

Italy

lOS
70

163
145
24
113
102
9

Netherlands
Norway

5

Portugal^

Spain
Sweden
Switzerland
Turkey
United Kingdom
Yugoslavia
Other Western Europe.
U.S.S.R
Other Eastern Europe.

16
66
17
104

152
164
15
107r
109

142r
234
40
103 r
125
9
13

14
4

16
65
17
lOA

122
3

4

890

949

1,093

4

77r

79

75r

13
105

12

2

817

48
102
lOr

920r
16r

7

3

3

Qr
25

l,970r

Total Europe.

2,029t

Canada

Latin America
Argentina
Bahamas 2 /
Brazil .T".
ChilColombia
Cuba
Mexico
Panama
Peru
Uruguay
Venezuela
Other Latin American RepubliGS
Netherlands Antilles and Surinam
Other Latin America

18
500r
22

5

7

2

4
103
69

12

3

75
9

5
.

Mar.p

Sept.

Mar.

1973

417r
18

28
13 Ir
104
8
17

9

24
60r

45r

10
20

48r
40
106
20r

20
515

26
467

24
16
202

23
16

313
39
128
117
9
19
56

38
140

151
350
25

U3
121
9
13
54

32
157
12
1,101

Sr
21

52
112
llr
,244r
18r
6
12 r
22

16

37
17

2,g84r

2,662r

3,010r

2,976

2.781

338r

312r

298r

298

260

19

211r

307
125
10

28
325
160

31
299
121

43

92
,9r

l,118r
16r
3

,,415r

17r
7

65r
15

8

1,216
40

52

5

5

53

:

.

21
lA

IH
289
22
14

!'•

44

323
35

396r

18
8

9r

428r
64
12r

1-1

35

1

1

26
18

22

27

5

5

8
5

2

7
2

16
33

16
32

3

3

17
35
10

22

15
2

17
39
10

77
14
17

36

3
50

51

45

728r

581x

20
51

19

42
34
41
14
14
25

225
21
16

22
»

13

14

11

76

64
21
15

63

72
18
18

28
14

23

2

2

2

3

43

53
63

49

81

39
65
48
114

761

818

816

862

39
72
19
13
22
39

23
72
19

17
93
19
7
60

60
7

5

593r

14

36
281
118
22

19
11

37

4

Total Latin America.
Asia
China, People's Republic of
(China Mainland)
China, Republic of (Taiwan).
Hong Kong
India
Indonesia
Israel
Japan
Korea
Philippines
Thailand
Other Asia

46
13

78
7
18

59

.83

:

Total Asia.
Africa
Egypt
Morocco
South Africa.
Zaire
Other Africa.

1

1

IS
12
27
10
10

16
11

177
13
7

26
10
10
173

23
12
7
12
12
149

13

26
12
15

24
14
13

297
37
17

31
374
38
9

374
45
19

6

7

7

75
25
10
536

102
19
10
63
63
331
43
19
9
645

1,239

1,311

14
35
17

14

5

43

18

54
17

10
38
40
352
66

28

50

348

142

141

117

102r

173

262

404

10
431

A.'".'

414

41L1

430r

700

844

1,054

1,089

1

1

1

1

10
15

12
17

31

31

7

1

1

1

14
19

3A

34

56

no

35
25
22
21
109

24
15
139

100

U5

137

168

212

206

172

193

217

56
30

60
31

3

:

Total Africa.

Other countries
Australia
All other

.

.

:

30r

Total other countries....

44r

3,39ar

73r
22r

95r

74r

89r

3,96Lr

4,353r

5,069r

5,474r

24r

2'3

2,704

,763

3,119

Data in two columns shown for this date differ because of changes
Figures in the first column are comparable in
in reporting coverage.
coverage to those shown for the preceding date; figures in the second
column are comparable to those shown for the following date.

3,962r

3,399r

Tbj-ough December 31,

«

Less than $500,000.
Preliminary,
Revised.

125

63

4,382r

2/
p
r

57r
32r

51r

71r
12r

International and regional

1/
~

5

.

Total foreign countries....

Grand total

6

5,133r
1972,

5,

60 Or

Bermuda included with

.M.
5,608

158"
5,766
Bafiamiis

.215,522

201
5,723

Treasury Bulletin

114

CAPITAL MOVEMENTS.
Section

III

-

Less than $500,000.

Reported by Nonbanking Concerns in the United States
Short-Term Liabilities, by Type and Country, as of March 31, 1975
Preliminary

Liabilities to Foreigners

Table CM-III-3.

-

.

.

j

115

August 7975
.CAPITAL
Section

III

-

MOVEMENTS.
Nonbanking Concerns

Liabilities to Foreigners Reported by

Table CM-III-4.

-

Long-Term

Liabilities

in the

United States

by Country

(position at end of period in millions of dollars
l'i74

'alendar year

Country

Europe
Austria
Belgium- Luxembourg.
Denmark
Finland
France
Germany
Greece
Italy
Netherlands
Norway
Portugal

Mar.

1973

1972 1/

1971 1/

Dec.

M.ar.

p

:

2
.

Spain
Sweden
Switzerland
Turkey
United Kingdom
Yugoslavia
Other Western Europe.
U.S.S.R
Other Eastern Europe.

2bl
Al

19

201
164

213

175

175

38

3b

.:9

31

78
348
20

52

1

1

205r
-;2

19
201
164

152
236

28
390r

358
20
157r
207

8

156
219

23
401r
6
158
213

186r
30

213
30

2

19
399

17
382

14

25

454

494

1

1

1

1

139
216

137

1

1

146
197
1

5

5

3

3

145r
194
1
1

4
3

3

4

5

5

475

568r

866

CI49

936

,p?2

2,560

2,Dl0r

73

64

°4r

453

573r

5

26
587r

4
28
569r

3

3

548r

30
582

31
558

l,089r

1,147

1,241

28

¥

*

Canada

Latin America
Argentina
Bahamas 2/
Brazil
Chil»
Colombia
Cuba
Mexico
Panama
Peru
Uruguay
Venezuela
Other Latin American Republics..
Netherlands Antilles and Surinam
Other Latin America

^54
43

*

2,670

Total Europe

261
41

1,107

1,142

2,976

2,627r
Q5r

104r

:

1

1

1

1

1

250

343

19b

172

266

1

1

1

3

3

1

1

1

i

1

1

1

4
4

3

3

7

5

1

1

1

14

11

11

3

2

2

1
1
2

3

3

10

10

4
64

18

1

1

514

340

385

1

Total Latin America.
Asia
China, People's Republic of
(China Mainland)
China, Republic of (Taiwan).
Hong Kong
India
Indonesia
Israel
Japan
Korea
Philippines
Thailand
Other Asin

1

280

3
1
1

4

355

:

Total Asia.

1
1
5

5

6

39

39

481
*

6
482

3
501

1

3

3

358

377

6

2

1

336

496r

47

4

31?

7

5

1

4

322

333

82

82

451

471

Africa:
Egypt

Morocco
South Africa.
Zaire
Other Africa.

Total Africa..
Other countries
Australia
All other

:

lotal other countries....

;3r

2r

Total foreign countries....

72

42r

,592r

.514r

,Q24

3,592r

3,514r

3,924

International and regional
Grand total
1/

3,159

3,138

3

,

540

Data in the two columns shown for this date differ because of changes
Figures in the first column are comparable In
in reporting coverage.
coverage to those shown for the preceding date; figures in the second
column are comparable to those shown for the following date.

2/
»

p
r

Through December 31, 1972, Bermuda included with Bahamas.
Less than $500,000.
Preliminary,
Revised.

Treasury Bulletin

116
.CAPITAL MOVEMENTS.
Section IV

-

Claims on Foreigners Reported by Nonbanking Concerns
Table CM-IV-1.

-

Claims by Type

in the

United States

.

117

August 1975
.CAPITAL MOVEMENTS.
Section IV

-

Claims on Foreigners Reported by Nonbanking Concerns
Table CM-IV-2.

-

in the

United States

Short-Term Claims by Country

(Position at end of period in millions of dollars)

1/ Data on the two columns shown for this date differ because of changes
in reporting coverage.
Figures in the first column are comparable in
ccfverage to those shown for the preceding date; figures in the second
column are comparable to those shown for the following date.

2/
*
p
r

Through December 31, 1972, Bermuda included with Bahamas.
Less than $500,000.
Preliminary,
Revised

Treasury Bulletin

118
.CAPITAL MOVEMENTS.

Claims on Foreigners Reported by Nonbanking Concerns in the United States
Short-Term Claims, by Type and Country, as of March 31, 1975
Table CM-IV-3.
Preliminary

Section IV

-

-

(Position in millions of dollars)

»

Less than $500,000.

.

.
.

'

119

Aui^ust 1975
CAPITAL
Section IV

-

MOVEMENTS

Claims on Foreigners Reported by Nonbanking Concerns in the United States

Table CM-IV-4.

-

Short-Term Liquid Claims Reported by Large Nonbanking Concerns by Type
(in millions of dollars)

Payable in foreign currencies

Payable in dollars
End of

calendar year
or month

Total
short-term
liquid
claims

Short-term
investments

19
19

557
5A9

805

58

699

66
66

702
786

28

1,192

1965 2/.

691
625

1966.

.

.

1967 2/.

1,163

901
985

1968....

L,6!8

1,306

111'.

,068
,222

L

1969 2/.

,

1,4'-U

1970

l,l<.l

847

i,6<;8
''O?

1,295
1,205

1,955
2,373

1,615
1,966

1973....

3,162r

2,625r

1974

3,303r

2,639r

1971 2/.

1

1972

2,/.

1974-May.

,

3,569

June.
July.
Aug..
Sept.
Oct..
Nov.
.

Dec.
1975-Jan.
Feb..
Mar..
Apr.
May..

Deposits

Deposits
1

Short-term
investments X/

Treasury Bulletin

120
CAPITAL MOVEMENTS.
Section IV

-

Claims on Foreigners Reported by Nonbanking Concerns in the United States
- Short-Term Liquid Claims Reported by Large Nonbanking Concerns,
by Type and Country, as of May 31, 1975

Table CM-IV-G.

(Position in millions of dollars)
Payable in foreign currencies

Payable in dollars

Country

Total
short-term
liquid
claims

Short-term
investments 1/

Deposits

Total

Deposits

Belgium -Luxembourg

17

France

16

15

15

1

1

Germany

15

6

6

9

9
1

Italy

Switzerland
United Kingdom

9

1

1

1

3

3

1

1

65

2

2

64

64

2

Netherlands

905

846

846

1,238

70<;

661

Bahamas

515

514

5U

Japan

296

107

All other countries 2/

109

56

Canada

Total

Short-term
investments 1/

59

59

534

29

107

189

169

21

52

53

^1

2

43

-^mr

J,2l6

Data represent the liquid assets abroad of large nonbanking concerns
in the United States. They are a portion of the total claims on foreigners
reported by nonbanking concerns in the United States and are included
In the figures shown in Tables CM-IV-1 through CM- IV- 3.
1/ Negotiable and other readily transferable foreign obligations payable
Note:

2/

yn

on demand or having a contractual maturity of not more than one year
from the date on which the obligation was incurred by the foreigner.
Includes the liquid claims of $500 thousand or more held by reporting
concerns in any country not listed above.

August 1975

121

.CAPITAL
Section IV

-

Claims on Foreigners Reported by Nonbanking Concerns
Table CM-IV-7.

u

MOVEMENTS,

-

in the

United States

Long-Term Claims by Country

Data in the two coliorans shown for this date differ because of changes
Figures In the first column are comparable in
in reporting coverage.
coverage to those shown for the preceding date; figures in the second
column are comparable to those shown for the following date.

2/

Through December 31, 1972, Bermuda included with Bahamas.
Less than $500,000.
Preliminary.
Revised.

..
.

.

122

Treasury Bulletin
.CAPITAL MOVEMENTS.

Table

CM-V

1.

-

V

in Long-Term Securities by Foreigners
Reported by Banks and Brokers in the United States
Foreign Purchases and Sales of Long-Term Domestic Securities by Type

Section

-

Transactions

(In millions of dollars; negative figures Indicate net sales

by foreigners or a net outflow of capital from the United States

Marketable Treasury bonds and notes

Corporate and other securities

Net foreign purchases

Calendar year
or month

Foreign countries

Official
institutions
19557

6.3-9

127
512
-728
671
-338
-76
-616
-43
-439
-45

-500

-59
-20
-245
48
-330
-115
-41
1,661
3,231
465
-642

1,110

l.ObO

56.

1,672
3,316
305

197.;

1975 -J an. -June p
1974 June

..

-101

July.
Aug..
Sept.
Oct..
Nov.

23
-37
-116

.

91

Eec.

155

70

1975-Jan
Feb

Mar

.

. .

Apr..

.

May p
J*ne p.

245
293
1,063
-254

.

-240

ers

-

Internat ional
and
regional

(jross

foreign
purchases

Gross
foreign
sales

foreign
purchases
of
corporate
and other

securities

-237
524
-98
-20
-207
369

36

1959.
1960.
1961.
1962.
1961.
196A.
1965.
1966.
1967.
1968.
1969.
1970.
1971.
1972.
1973.

Other
foreign-

36
95
56
30
51
59

123
-119
5

70

Bonds 1/

Net

Net

Gross
Gross
foreign
foreign
foreign
purchases purchases sales

Net

foreign
purchases

Gross
foreign
purchases

Gross
foreign
sales

..

)

—

August 1975
CAPITAL MOVEMENTS.
V Transactions in Long-Term Securities by Foreigners
Reported by Banks and Brokers in the United States
Net Foreign Transactions in Marketable Treasury Bonds and Notes by Country

Section

Table CM-V-3.

-

-

(In millions of dollars; negative figures indicate net sales by fopeigners or a net outflow of capital

Calendar year
Country
1972

Europe
Austria
:

Belgium-Luxembourg
Denmark
Finland
France
Germany
Greece
Italy

Netherlands
Norway
Portiigal

Spain
Sweden
Switzerland
Turkey
United Kingdom
Yugoslavia
Other Western Europe.
U.S.S.R
Other Eastern Europe.
Total Europe.
Canada

Latin America
Argent ina
Bahamas 1/
Brazil

:

ChnColombia •
Cuba
Mexico
Panama
Peru
Uruguay
Venezuela
Other Latin American Republics..
Netherlands Antilles and Surinam
Other Latin America
•

Total Latin America.
Asia:
China, People's Republic of
( China Mainland
China, Republic of (Taiwan).
Hong Kong
India
Indonesia
Israel
Japan
Korea

Philippines
Thailand
Other Asia

Total Asia.

Africa
Egypt
Morocco
South Africa.
Zaire
Other Africa,.
:

125

Total Africa.

Other countries
Australia
All other

:

Total other countries

Total foreign countries
International and regional

-

International
Latin American regional
Asian regional

Total international and regional
Grand total.

1973

frorii

the United States)

Treasury Bulletin

124
CAPITAL MOVEMENTS.

V Transactions in Long-Term Securities by Foreigners
Reported by Banks and Brokers in the United States
Estimated Foreign Holdings of Marketable U.S. Treasury Bonds and Notes by Country
Section

Table CM-V-4.

-

-

(Position at end of period in millions of dollars)

125

August 1975
CAPITAL

MOVEMENTS

V Transactions in Long-Term Securities by Foreigners
Reported by Banks and Brokers in the United States
Table CM-V-5. - Net Foreign Transactions in Long-Term Domestic Bonds,
Other than Treasury Bonds and Notes, by Country
Section

-

(In millions of dollars; negative figures indicate net sales by forei

Data include transactions in issues of states and municipalities
Note;
Government.
and of corporations and other agencies of the U.S.
included with Bahamas.
1/ Through December 31, 1972, Bennuda

p

Freliminary.
Less than $500,000.

,.

)

Treasury Bulletin

126
.CAPITAL
Section

V

-

MOVEMENTS,

Transactions in Long-Term Securities by Foreigners

Reported by Banks and Brokers
Net Foreign Transactions
Table CM-V-6.
-

in

in

the United States
Domestic Stocks by Country

(In millions of dollars; negative figures indicate net sales by foreigners or a net outf low of capital from the United States)

1Q75

Calendar year
Country

IP 75

1971

through

1974

J line

Europe
Austria
Belgium- Luxembourg
Denmark
Finland
France
Germany
Greece
Italy
Netherlands
Norway
Portugal
Spain
Sweden
Switzerland

Apr.

p

May p

:

1

51

:

152

6

-1

59
-5

1

372

m39

-51
10

2

18

36

•45

297
-1
23
6

United Kingdom
Yugoslavia
Other Western Europe.
U.S.S.R
Other Eastern Europe.

561

-1

-1
78
80

34

15
1

21
25
-1
-1
14

12
11

330

134

-IQ

7

2

3

-6

-1

-3
-1
36
-3
-377

All

366
6
6

-15

-6

23

1

4

40

8
26

27

-1
115

39

-1
-1
-1
44

329

147

38

54

-3
-1

-1

1

1

146

136

3
1

42

3

2

11
g
11

686

-3

4

3 39

1

2
-1
1
1

100
59

1

Total Europe

Canada

-1
-2

5

T

l\irkey

8

3

-3

-4

642

203
39
7

14

193

99

Latin America
Argent ina
Bahamas _l/
Brazil
Chil"
Colombia
Cuba
Mexico
Panama
Peru
Uruguay
Venezuela
Other Latin American Republics..
Netherlands Antilles and Surinam
Other Latin America
:

-45'

17

5

-3

19
-1

-1
-7

1

-1
-a

5

-13
-1

le
-1;

Total Latin America.

Asia

1

-1

-3
11

1

13

-1.3

1

-10

-4
-15

:

China, People's Republic of
(

China Mainland

China, Republic of (Taiwan).
Hong Kong
India
Indonesia
Israel
Japan
Korea
Philippines

1

-1

56
-2

23

-25

10

i,

159

A95
-2

-2

2

-A 5
-1

-40

-1
60

1

15

1

1

Thailand
Other As is

361

657

157

Total Asia.

Africa

15

-1

87

119
140

80

:

Egypt

Morocco
South Africa.
Zaire
Other Africa.

Total Africa.

Other countries
Australia.
All other
.

.

Total other countries

2

,

Total foreign countries

International and regional

1,.:'"

2,770

254

:

International
European reg ional
Asian regional
African regional

14

Total international and regional
Grand total.
1/
p

381

Through r*tcember 31, 1972
FTeliminary
Less than $500,000.

-3

-3

2,1

2,7*

Bermuda included with Bahamas.

540

190

533

378

August

127

19~^5

.CAPITAL MOVEMENTS.

Table CM-V-7.

-

V

Transactions in Long-Term Securities by Foreigners
Reported by Banks and Brokers in the United States
Net Foreign Transactions in Long-Term Foreign Bonds by Country

Section

-

(In millions of dollars; negative figures indicate net sales by foreigners or a net outflow of capital from the United States

1/
p
•

r

Through December 31, 1972, Bermuda included with Bahamas.
Preliminary.
Less than $500,000.
Revised.

.
.

.

)

.

128

Treasury Bulletin
.CAPITAL

MOVEMENTS.

Transactions in Long-Term Securities by Foreigners
Reported by Banks and Brokers in the United States
Net Foreign Transactions in Foreign Stocks by Country
Table CM-V-8.
Section

V

-

-

In millions of dollars;

negative figures ijidlcate net sales by foreigpers

or a net outflow of capital from the United

Calendar year

fltat.s;

1Q75

Country
May p

through
J Line

Europe
Austria
Be Igium- Luxembourg
Denmark
Finland
France
Germany
Greece
Italy
Netherlands
Norway
Portugal
Spain
Sweden
Switzerland
Turkey
United Kingdom
Yugoslavia
Other Western Europe.
U.S.S.R
Other Eastern Europe.

p

:

1

2

23

16

1

1

-1
-76
10

-17

-2

1

23

36

-3

1

1

16^

33

-1
16

-10
3A

-33
-11

-A
1

1

-A

3

35

-12

26

-188

-19
-301

-2
-1
32

-1

6

2

-13

-68

15

13

-1

-1'4

Total Europe.

-353

24

Canada

Latin America
Argentina
Bahamas 1/
Brazil
Chile
Colombia
Cuba
Mex ico
Panama
Peru
Uruguay
Venezuela
Other Latin American Republics.
Netherlands Antilles and Surinam
Other Latin America
:

-1
6

-1
13
-1

Total Latin America.

Asia

:

China, People's Republic of
C China Mainland
China, Republic of (Taiwan).
Hong Kong
India
Indonesia
Israel
Japan
Korea

19

-26
-52

1

188

-96

1
i;

-29

Philippines
Thailand
Other Asia

-U
-1
2

Total Asia.

l-'3

Africa
Egypt
Morocco
South Africa.
Zaire
Other Africa.

-89

:

19

-1

-1

-1

-1

Total Africa..

Other countries
Australia
All other

:

Total other countries....
Total foreign countries....
International and regional

:

International
European regional
As ian regional
Total international and regional

Grand total

1/
p

1-/'

Through December 31, 1972, Bermuda included with Bahamas.
Preliminary.
Less than $500,000.

u

-30

129

August 1973
.CAPITAL MOVEMENTS.

V

Transactions in Long-Term Securities by Foreigners
Reported by Banks and Brokers in the United States
Foreign Purchases and Sales of Long-Term Securities,
Table CM-V-9.
by Type and Country, During June 1975, Preliminary
Section

-

-

(In millions of dollars)

Treasury Bulletin

130
:apital

movements.

Transactions in Long-Term Securities by Foreigners
Reported by Banks and Brokers in the United States
Foreign Purchases and Sales of Long-Term Securities,
Table CM-V-10.
by Type and Country, During Calendar Year 1974
Section

V

-

-

(In millions of dollars)

131

August 1975
.CAPITAL
Section VI

-

Table CM-Vl-1.

MOVEMENTS.

Foreign Credit and Debit Balances in Brokerage Accounts
Foreign Credit Balances (Due to Foreigners) by Country

sition at end of period in millions of

cioll'irs'l

Treasury Bulletin

132
.CAPITAL
Section VI

-

Table CM-VI-2.

Mote:

MOVEMENTS.

Foreign Credit and Debit Balances in Brokerage Accounts
-

Foreign Debit Balances (Due from Foreigners) by Country

Data represent the mone.v debit balances (due from foreigners),

as appearing on the books of reporting brokers and dealers in the
United States, in accounts of foreigners with them, and in

1/

p

their accounts carried by foreigners.
Through December 31, 1972, Bermuda included with Bahamas
Preliminary.
^
Less than $500,000.

August 1975

133
FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS
Section II

Table GA-lI-1.

-

-

Federal Credit Programs

Direct Sales and Repurchases of Loans
(In millions of dollars)

134

Treasury Bulletin
FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS ^_^^^^^^__
Section

Table GA-III-1.

-

Civil

III

-

Trust Funds

Retirement and Disability Fund

(In millions of dollars)

..

August 1973

135
FINANCIAL OPERATIONS OF
Section

Table GA-III-2.

-

GOVERNMENT AGENCIES AND FUNDS
III

-

Trust Funds

Federal Old-Age and Survivors Insurance Trust Fundi/
(In millions of dollars)

Receipts

Expenditures other than investments

Fiscal year
or month
Total 2/

Appropriations

2/
1937-65
1966
1967
1968
1969
1970
1971
1972
1973
197^
1975p

1976 (Est.)

U9,5a

Deposits by
States

V

Net earnings
on investments

Total 5/

129,342
18,770
19,729 2/
21,624 2/
24,690
27,320
32,268
35,848
43,623
49,483
56,676

50,935
58,760

133,339
16,747
20,732
20,627
23,693
27,196
28,849
32,114
37,187
43,465
50,119

7,373
1,392
1,835
2,036
2,260
2,758
3,066
3,596
4,131
4,989
5,897

8,763
588
725
900
1,013
1,349
1,618
1,718
1,848
2,040
2,293

61,926

52,822

6,314

2,365

58,933

5

4,435

1,874
-247
-39
l,547r
-259

18,A61
23,371
23,6A1
27,3<V8

31,746
33,982
37,916

«,639

1974- July..
Aug
Sept .
Oct...
Nov...
Dec...

3,338
6,038
3,960
3,409
5,139r
4,899

3,843
4,113
4,191
3,408
3,544
3,740

1975- Jan
Feb
Mar...
Apr ...
May..
June p

3,534r
6,500r
4,489r
5,545
6,374

3,529r
4,792
4,827

5,036

5,478
4,276
4,381

-9

Ir
l,662r
-354r
29
2,041
-347

51
If.

16

38
56
1,003

Benefit
payments
123,635
18,072
18,887
20,737
23,732
26,266
31,101
34,540
42,170
47,847
54,839
59,977

Payments to Railroad Retirement
Accounts 6/

Treasury Bulletin

136
FINANCIAL OPERATIONS OF

GOVERNMENT AGENCIES AND FUNDS

Section III

Table GA-III-3.

-

-

Trust Funds

Federal Disability Insurance Trust Fund

-

.
.

August 1975

137
FINANCIAL OPERATIONS OF
Section

Table GA-III-4.

-

GOVERNMENT AGENCIES AND FUNDS
III

-

Trust Funds

Federal Hospital Insurance Trust Fund
(In millions of dollars)

Expenditures other than investments

Receipts

Fiscal year
or month

Total

V

Appro
prlations

Federal
payment
z/

Deposits
by
States

Interest
and profits on
investments

Benefits
payments

Administrative
expense

Construction

Assets, end of period
Net
increase,
or decrease
(-),

UnInvestexpended
ments
balance

in

assets

5,614
6,018
6,031
8,352
11,610
12,568

862
2,483
3,235
3,997
4,340
4,412
4,692
6,938
9,503
10,077

1976 (Est)

13,583

10,713

1974^uly.

794
971
1,150
752
836
1,648

779
858
852
701
729
688

1966
1967
1968
1969
1970
1971
1972
1973
1974
1975p

916
3,089
3,902

5,3W

Aug..
Sept.
Oct..
Nov.

Dec.
.975-Jaii..

Feb..
Mar..
Apr.
May..
June.

780
965r
1,202
1,060
980
1,429

777
913
981
1,045
864
891

47
206
279
426
445
486

7

64

499
529

534
725
1,099
1,214

2,597 1/
3,815 2/
4,758
4,953
5,592
6,276
6,842
8,065
10,617

2,508
3,736
4,654
4,804
5,443
6,109
6,649
7,807
10,361

670

1,299

756

11,710 i/

11,380

13
112
164
49
103
163

2
1

766
797
744
836

519r

Ix
50

220
»
100
238

2
1
2

276
2
2

ir
4
15

299

Monthly Statement of Receipts and Outlays of the U.S. Government. Revised Budget estimates based on the Mid-Session review of the
1976 Budget, released May 30, 1975, are not available in the necessary
detail.
Budget estimates are based on the 1976 Budget of the U.S.
Government, released Feb. 3, 1975, the latest available.
Includes nominal amounts of other receipts.
Includes receipts and
interest from Railroad Retirement Accounts-net settlelnent of $16
million FY 1967, $44 million FY 1968, $54 million FY 1969, $64
''
million FY 1970, $66 million FY 1971, $66 million FY 1972' $63
million FY 1973, $99 million FY 1974 and $132 million FY 1975.
Estimate for FY 1976 is $145 million.
Represents payments for military service credits of $11 million
for each FY 1967 and 1968, $22 million FY 1969, $11 million
for each FY 1970 and 1971 and $48 million for each 1972,
1973, 1974

793
823
765
860
832
873
908
901
976
1,004
953
929

2/

851
1,343
1,431
2,017
2,677
3,103
2,859
4,369
7,914
9,864

786
1,298
1,370
2,001
2,653
3,030
2,884
4,222
7,864
9,761

146
49
104

318

3,212

13,675

13,635

40

26
26

2

U9

21
25
22
22

385
-109
4r
775

-81Qr

851

899
883
946
979
934
916

89
79
104
148
149
165
192
258

8

18
31
25
19
13

-127
65
22 6r
56
27

499

2/

65
45

60
15

24
73
-25

7,915
8,064
8,449
8,340
8,344r
9,119r

7,878
8,058
8,362
8,330
8,293
9,018

lOQr

8,991r
9,056r
9,282r
9,338
9.365
9,864

9,020r
9,038r
9,309r
9,369
9,270
9,761

-29r
19
-27
-31
95
104

and 1975- and payment for transitional coverage for the uninsured of $327 million FY 1967, $273 million FY 1968, $749
million FY 1969, $617 million FY 1970, $863 million FY 1971,
million FY
$503 million FY 1972, $381 million FY 1973, $451
million
1974 and $451 million FY 1975. Estimate includes $622
service
for transitional coverage and $48 million for military

Soxorce;

1/

256

851
492
87
586
661
426
-244
1,510
3,545
1,951

64

46
60
96
137
180
188
196
406
608

338
284
771
628
874
551
429

credits for FY 1976.
Excludes transactions for investments in non-Federal securities.
Includes $10 million FY 1976 for health insurance experiments and
demonstrations projects.
Less than $500,000.
Revised.
Preliminary.

38
6
87
11
Sir

Treasury Bulletin

138
FINANCIAL OPERATIONS OF
Section

Table GA-III-5.

GOVERNMENT AGENCIES AND FUNDS
III

-

Trust Funds

Federal Supplementary Medical Insurance Trust Fund
(In millions of dollars)

^___^_^___

..
.

August 1975

139
FINANCIAL OPERATIONS OF
Section

Table GA-IlI-7.

GOVERNMENT AGENCIES AND FUNDS

III

-

-

Trust Funds

Unemployment Trust Fund

(In millions of dollars)

Receipts
Railroad unemployment insurance

Employment Security Program
State
aci^ounts

Fiscal year
or month

1/

Deposits
by
States

1936-65
1966
1967
1968
1999
1970

54,389
4,126
4,072
3,822
3,399
4,119
4,371
5,498
6,725
7,436
7,938

10/

42,682
3,067
2,917
2,605
2,561
2,564
2,582
3,226
4,634

Employment Security
Administration
Account 2/

Appropriations

5,292

9,760 12^

5,840

1,434

1974 -July...
Aug
Sept
Oct
Nov .
Dec

420
1,405
70
241
790

292
1,159
28
152
647

126
201
7
68
112

1975-Jan

242r
782r
43r
1,002
2,228
402

.

.

.

.

Feb
Mar
Apr..
May....
June . .
.

363

5,26/,

55

8

130

115r

526
-12r

201 r
9r
164
339

393

1,866
55

v
833

3,204
561
597
601
633

1976 (Est.).

1971
1972
1973
1974
1975 p

fund

Federal
Extended
Compensation
Account

y

770
964
1,011
1,297
1,454
1,355

12/
12/
12/
12/
12/

Advances
from
general

Federal
Unemployment
Account
Board

7

597

W

Railroad Unemployment
Insurance Account 6/

Deposits
by
Railroad
Retirement
accounts
7/

2,248
139
137
131
126
123
119
112
113
111
109
111

-

Administration
fund 2/

Advances from
Railroad
Retirement
accounts
8/
548
41
29
35

47
45
51
6.1

3S

General
fund

Deposits
by
Railroad
Retirement
Board

Interest
and

profits
on
investments

140

Treasury Bulletin
FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS
Section

Table GA-III-7.

III

-

Trust Funds

Unemployment Trust Fund— Continued
(In millions of dollars)

.
.

)

HI

August 1975
FINANCIAL OPERATIONS OF
Section

Table GA-III-8.

-

GOVERNMENT AGENCIES AND FUNDS
III

-

Trust Funds

National Service Life Insurance Fund
(In millions of dollars)

Receipts
Fiscal year
or month

Transfers from
Premiums and
general and
other receipts
special fonds

19,561

11,307
497
487
476
478

4,760

3

798
808
835

463
470
478
487
468
465

1976 (Est.)

874

484

1974- July..
Aug...
Sept .
Oct...
Nov . .

43
43

1944-65
1966
1968
1969
1970
1971
1972
1973
1974
1975p

..

.

Jxine.

Total

5,9M

279
186
104

6,122
6,086
6,233
6,315
6,341
6,423
6,476
6,755
6,941
7,045

387

694

1,792

7,268

6,925

172

59
50
51
59
4^
56

-16

36
41
36
214

42
37
36
39
36
41

44

42

2

43
41
37

36
41
35
37

7

43

176

773

Dec.

(-), In

assets

5,914
208
-36

708
711
744

1975-Jan...
Feb .
Mar...
Apr . .
May. ..

3,494
191
200
211
225
245
271
292
309
338
368

Assets, end of period

Net increase
or decrease

13,647
485
729 1/
546 1/
627
685
661
720
519
623
731

693
693
693

1%7

Expenditures other
than investments
Interest and (benefits, net lending
profits on
refunds, and
investments dividends

37
219

5

6
5

6
3

2
2
2
2

61
191
46
40
39
36

W7
32

26
82
53

-7

-14
-17
-8
158
-17

-U8r
-4
-3
-2
183

Investments

5,909
6,113
6,079
6,228
6,301
6,320
6,403
6,465
6,737
6,915
7,026

Unexpended
balance

Treasury Bulletin

142
FINANCIAL OPERATIONS OF
Section

Table GA-III-9.

-

GOVERNMENT AGENCIES AND FUNDS

III

-

Trust Funds

Investments of Specified Trust Accounts

in Public

and Agency Securities by Issues, as of June
(In millions of dollars)

Investment securities

30, 1975

Debt Securities

—

»

August 1973

143

.CUMULATIVE TABLE OF CONTENTS,
September 1974 through August 1975

Issues and page numbers
1)75

Sections
Dec.

Sept.

Tan,

Feb,

Mar.

Apr.

Msy

July

Article:
Treasury financing operations

Federal fiscal operations:
Summary of fiscal operations
Budget receipts by source
Chart - budget receipts by source
Budget outlays by agency
Undistributed offsetting receipts
Budget outlays by function
Investment transactions of Government accounts in
Federal securities (net)
Trust fund transactions
Loan disbursements and repayments, net lending, and
loan balances of Federal credit programs
Selected accrual data reported by Federal agencies...
Detail of excise tax receipts
Accountability of the Account of the U.S. Treasury on
an accounting basis
Summary of internal revenue collections by State,
and other areas

1

1

1

3

3

3

3

5

5

5

5

5

6
7

7

6
7

8

3

3

10
11

6

6

7

7
3

8

10

10

li'i

11

11

11

10
11

10

10

10

11

11

11

^

10

10

10

11

11

11

12

12

Federal obligations

n

15

Account of the U.S. Treasury
Status of the Account of the U,S, Treasury
Analysis of changes in tax and loan account balance,.
Summary of cash transactions through the Account of
the U.S. Treasury
Ctold assets and liabilities of the Treasury

1

1

12

14

15

:

16
17

18
la

18

16
17

17
18

13
14

17

I'l

13
13

20
20

20
20

18
18

IQ
10

15
15

19
19

18

17
13

21

13
14

18
19

22

15

20

23

16

21

20

ic<

14

Monetary statistics
Money in circulation
:

Federal debt
Summary of Federal debt ...
Computed interest charge and computed interest rate
on interest-bearing public debt
Interest- bearing public debt
Maturity distribution and average length of markets
able interest^bearing public debt
Government accoxjnt series
Interest-bearing securities issued by Government
agencies. .Participation certificates
Debt subject to statutory limitation
Status and application of statutory limitation
Treasury holdings of securities issued by Government
corporations and other agencies
Description of securities of Government corporations
and other business- type activities held by the
Treasury
:

Public debt operations:
Maturity schedule of interest- bearing public marketable
securities other than regular weekly and 52-week
Treasury bills outstanding
Offerings of Treasury bills
New money financing through regular weekly Treasury
bills
Offerings of public marketable securities other than
regular weekly Treasury bills
Unmatured marketable securities issued at a premium
or discount other than advance refunding operations.
Allotmentsby investor classes on subscription for
public marketable securities
Disposition of public marketable securities other
than regular weekly Treasury bills
Foreign series securities (nonmarketable) issued to
official institutions of foreign countries
Foreign currency series securities (nonmarketable)
issued to official institutions of foreign
countries

United States savings bonds
Sale and redemption by series, cumulative
Sale and redemption by periods, all series
combined
Sale and redemption by periods, Series E through K
Redemptions of matured and unmatured savings bonds,
Sales and redemptions by demomi nations, Series E and
H combined
Sales by States, Series E and H combined

22

24

22
20
21

22
23

22
23

20
21

21
22

17
18

21
22

21
22

21
22

23
24

23
24

21
22

22
23

18
19

22
23

22
23

25
26

18

23

25
26

25
26
27
28

23
24
25
26

24
25

20

24
25

27
28

26
27

22
23

26

24
25
26

27

27

30

20
21
22
23

25
26

27
28

21

17

36

30
31

30
31

28
29

29
30

25

26

29
30

34
35

33

34

34

32

33

29

33

38

36

38

^9

31

15

41

30

38

34

38

44

42

41

37

41

40

46

43

37

45

46

40

47

45

43

4<5

42

39

49

47

5_'.

54

45

42

52

5n

64

52

66

67

54

52

56

63

62

66
67

67
68
70

54
55
57

52

56
57
5°

63
64
66

63
65

53

50

:

64
65
67

53
55

19

24

24

28
29

67

22

18

25
26

23
24
25

26
27
28

Aug.

lU

Treasury Bulletin

.CUMULATIVE TABLE OF CONTENTS
September 1974 through August 1975— Continued

Issues and page numbers

1974

1975

Sections
Apr,

Sept.

United States savings notes
Sales and redemptions by periods
:

Ownership of Federal securities
Distribution by classes of investors and types of
issues
Estimated ownership by private investors

59

59

60
61

60
61

82
84

70
72

70
72

85

73

73

86

74

74

:

70
71

71
72

Treasury survey of ownership

72
73

7A

Treasury survey - commer c ial bank ownership

Market quotations on Treasury securities:
End-of-month clos ing quotations
Chart - Yields of Treasury securities

79
81

Average yields of long-term bonds
Average yields of long-term Treasury, corporate, and
municipal bonds
Chart - Average yields of long-term Treasury,
corporate, and municipal bonds
:

Exchange Stabilization Fund
Balance sheet
Income and expense

82

83

83

:

75
76

National bank reports
Income, expenses, and dividends, latest calendar year
:

International financial statistics
U .S reserve assets
U.S. liquid and other liabilities to foreign
official institutions, and liquid liabilities to all
other fore igners
U.S. liquid and other liabilities to official
institutions of foreign countries by area
Nonmarketable U .S Treasury bonds and notes issued
to official institutions of for?eign countries
U.S. position in the international Monetary Fund
U.S. net monetary gold transactions with foreign
countries and international and regional organizations
Weighted-average of exchange rate charxges for the dollar
:

.

8A

75

85

76

78

77

79

78
79

80
81

86

.

Capital movements
Liabilities to foreigners reported by banks in the
United States
Claims on foreigners reported by banks in the United
States
Liabilities to foreigners reported by nonbanking
concerns in the United States
Claims on foreigners reported by nonbanking concerns
in the United States
Transactions in long-term securities by foreigners reported by banks and brokers in the United States
Foreign credit and debit balances in brokerage accounts

87

90
91

90
91

92

92

82

90

93

93

83

93

^6

96

84

86

101

lOi,

104

92

94

107

110

110

98

100

111

1\U

114

102

104

117
126

120
129

120
129

108
117

110
119

:

Foreign currencies acquired by the U.S. Government
without payment of dollars
Foreign currency transactions, summary and country uses
Foreign currency transactions, U.S. uses and trust funds
:

Financial operations of Government agencies and funds
Government corporations and other business-typ«
activities:
Statements of financial condition
Statements of income and retained earnings
Federal credit programs:
Direct sales and repurchases of loans
Direct and guaranteed loans outstandiiig
Trust funds;
Civil Service Retirement and Disability Fund
Federal Old-age and Survivors Insurance Trust Fund...
Federal Disability Insurance Trust Fund
Federal Hospital Insurance Trust Fund
Federal Supplementary Medical Insurance Trust Fund...
Railroad Retirement Accounts
Unemployment Trust Fund
National Service Life Insurance Fund
Investments of specified trust accounts

132
133

:

131
132

134

135
136
137
138
139
139
140
142
143

121

58
59

May

July

—

TreaR.
HJ
10
.A2

U.S.

Treasury Dept.

Treasury Bullptin, JulyDec.

1975-

c.l

Treas.
H.T

10
.A2
aiJthor'-

U.S. TreaftuL y D e^ L.
'

Treasury isuiietin. July
Dec.

1975.

±^^