Full text of Treasury Bulletin : June 1983
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c I Ce Wly \r^ M£3 1984 I 3 'REASliu 1 SV) i '-' L. i UNITED STATES GOVERNMENT PRINTING OFFICE SUPERINTENDENT OF OOSUMENTS WASHINGTON, D.C. 20402 POSTAGE AND FEES PAID DEPARTMENT OF THE TREASURY TREAS - 553 OFFICIAL BUSINESS PENALTY FOR PRIVATE USE, $300 FIRST CLASS Spring Issue Rer*''.;^iscari983 JilN ^83 TREASURY Office of the Secretary Department of the Treasury Washington, D.C. Compiled by Bureau of Government Financial Operations % *». TREASURY Office of the Secretary Department of the Treasury Washington, D.C. The Treasury Bulletin is U.S. Government Compiled by Bureau of Government Financial Operations for sale by the Superintendent of Documents, Washington, DC. 20402 Printing Office, I9<^ ©®lIQiJ©[ffl{iS FINANCIAL OPERATIONS iM^HHHBBMMH^^HMHMMM^B^^H^H^^^^^^^H^^^^^^^Ml^^^^H Page FEDERAL FISCAL OPERATIONS . - Summary of fiscal operations 3 FFO-2. - Budget receipts by source 4 FFO-1 Chart - FFO-3. Budget receipts by source 6 Budget outlays by agency ^ - FEDERAL OBLIGATIONS FO-1. - FO-2- - Gross obligations incurred within and outside the Federal Government by object class Gross obligations incurred outside the Federal Government by department or agency 8 9 ACCOUNT OF THE U.S. TREASURY UST-1. Elements of changes in Federal Reserve and tax and loan note account balances - 11 FEDERAL DEBT FD-1. - Summary of Federal debt 12 FO-2. - Interest-bearing public debt 12 FD-3. - Government account series 13 FO-4. - 14 FD-5. - Interest-bearing securities issued by Government agencies Maturity distribution and average length of marketable interest-bearing public debt held by private investors FD-6. - Debt subject to statutory limitation 15 FD-7. - Treasury holdings of securities issued by Government corporations and other agencies 16 15 PUBLIC DEBT OPERATIONS 17 Article - Treasury financing operations PDO-1. - Maturity schedule of interest-bearing marketable public debt securities other than regular weekly and 52-week Treasury bills outstanding PDO-2. - Offerings of bills PDO-3. - Public offerings of marketable securities other than regular weekly Treasury bills PDO-4. 19 20 22 24 Allotments by investor classes on subscriptions for public marketable securities - U.S. SAVINGS BONDS AND NOTES SBN-1. - Sales and redemptions by series, cumulative SBN-2. - Sales and redemptions by period, all SBN-3. - Sales and redemptions by period, 26 series of savings bonds and notes combined 26 27 series E, EE, H, and HH OUNERSHIP OF FEDERAL SECURITIES OFS-1. - OFS-2. - 28 Distribution of Federal securities by class of investors and type of issues Estimated ownership of public debt securities by private investors 28 MARKET BID YIELDS ON TREASURY SECURITIES MBY-1. Chart 29 Treasury market bid yields at constant maturities, bills, notes, and bonds - 30 Yields of Treasury securities - AVERAGE YIELDS OF LONG-TERM BONDS AY-1. - Chart - Average yields of long-term Treasury, corporate, and municipal bonds by period Average yields of long-term Treasury, corporate, and municipal bonds 31 32 FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS GOVERNMENT CORPORATIONS AND OTHER BUSINESS-TYPE ACTIVITIES GA-I-2. Statements of income and retained earnings - !•• 34 INTERNATIONAL STATISTICS INTERNATIONAL FINANCIAL STATISTICS ^1 IFS-1. - U.S. IFS-2. - Selected U.S. rFS-3. - Nonmarketable U.S. Treasury bonds and notes issued to official Institutions and other residents of foreign countries 72 IFS-4. - Weighted average of exchange rate changes for the dollar 73 reserve assets liabiHtfes to foreigners 7? CAPITAL MOVEMENTS LIABILITIES TO FOREIGNERS REPORTED BY BANKS IN THE UNITED STATES CM-I-1. - CM-I-2. - liabilities by type of holder Total liabilities by type, payable in dollars CM-I-3. - Total CM-I-4. - Total Habilities by country liabilities by type and country CLAIMS ON FOREIGNERS REPORTED BY BANKS IN THE UNITED STATES Total '5 '6 ^^ ^8 '9 CM-II-1. - Total claims by type CM-II-2. - Total claims by country 80 CM-II-3. - Total claims on foreigners by type and country reported by banks in the United States 81 111 IV ©®(raft©DT]G§ SUPPLEMENTARY LIABILITIES AND CLAIMS DATA REPORTED BY BANKS IN Page THE UNITED STATES CM-III-1. - Dollar claims on nonbank foreigners 82 CM-III-2. - Dollar liabilities to, and dollar claims on, foreigners in countries and areas not regularly reported separately. 83 LIABILITIES TO, AND CLAIMS ON, FOREIGNERS REPORTED BY NONBANKING BUSINESS ENTERPRISES IN THE UNITED STATES CM-IV-1. - Total liabilities and claims by type CM-IV-2. - Total liabilities by country 85 CM-IV-3. - Total liabilities by type and country 86 CH-IV-4. - Total claims by country CM-IV-5. - Total 84 87 claims by type and country 88 TRANSACTIONS IN LONG-TERM SECURITIES BY FOREIGNERS REPORTED BY BANKS AND BROKERS IN THE UNITED STATES CM-V-1. - Foreign purchases and sales of long-term domestic securities by type 89 CM-V-2. - CM-V-3. - Foreign purchases and sales of long-term foreign securities by type Net foreign transactions in long-term domestic securities by type and country 90 CM-V-4. - CM-V-5. - Foreign purchases and sales of long-term securities, by type and country, latest date Foreign purchases and sales of long-term securities, by type and country, latest year 92 89 91 FOREIGN CURRENCY POSITIONS SUMMARY POSITIONS FCP-I-1. - Nonbanking firms' FCP-I-2. - Weekly bank positions positions 94 94 CANADIAN DOLLAR POSITIONS FCP-II-1. - Nonbanking firms' positions 95 FCP-II-2. - Weekly bank positions 95 GERMAN MARK POSITIONS FCP-III-1. - Nonbanking firms' FCP-III-2. - Weekly bank positions positions 96 96 JAPANESE YEN POSITIONS FCP-IV-1. - Nonbanking firms' positions 97 FCP-IV-2. - Weekly bank positions 97 SWISS FRANC POSITIONS FCP-V-1. - Nonbanking firms' positions 98 FCP-V-2. - Weekly bank positions 98 STERLING POSITIONS FCP-VI-1. - Nonbanking FCP-VI-2. - Weekly bank positions fi rms positions ' U.S. DOLLAR POSITIONS ABROAD FCP-VII-1. - Nonbanking firms' FCP-YII-2. - 99 99 foreign subsidiaries' positions 100 Weekly bank foreign office positions 100 EXCHANGE STABILIZATION FUND ESF-1. - Balance sheet 102 ESF-2. - Income and expense 102 SPECIAL REPORTS CONSOLIDATED FINANCIAL STATEMENTS OF THE UNITED STATES GOyCRNMENT, FISCAL YEAR 1981 (PROTOTYPE) 106 NATIONAL BANK REPORT 134 TRUST FUND REPORTS Airport and airway trust fund 136 Black lung disability trust fund 137 Hazardous substance response trust fund 138 Highway trust fund 139 Inland waterways trust fund 141 Reforestation trust fund 142 U.S. CURRENCY AND COIN OUTSTANDING AND IN CIRCULATION 144 CASH MANAGEMENT/DEBT COLLECTION Article - Treasury responsibilities under Reform '88 cash management Note. --De tai 1 s 147 of figures may not add to totals because of rounding. Abbreviations and symbol: r represents Revised, p Preliminary, n.a. Not available, t Includes funds transferred from others. FEDERAL FISCAL OPERATIONS Table [In mlllTons of dollars. FFO— 1. — Summary of Fiscal Operations Source: Monthly Treasury Statement of Receipts and Outlays of the United States Government] FEDERAL FISCAL OPERATIONS Table FFO-2. [In millions of dollars. - Budget Receipts by Source Source: Monthly Treasury Statement of Receipts and Outlays of the United States Government] Income taxes Net Fiscal year or month Individual budget receipts Refunds Social insurance taxes and contributions Corporation Net income taxes Enployment taxes and contributions Old-age, disability, and hospital insurance Gross 1981 1982 599,272 617,766 1983 (Est.) 1984 (Est.) 598,336 653,672 1982-Mar Apr Hay June July Aug Sept Oct Nov Dec 1983-Jan Feb Mar Fiscal 1983 to date 45.291 75,777 36,753 66,353 44,675 44.924 59,694 40,539 42,007 54,498 57,505 38,816 43,504 276,869 256,007 Refunds Net FEDERAL FISCAL OPERATIONS Table FFO-2. - Budget Receipts by Source-Continued [In millions of dollars] Excise taxe5--Conti'nued Fiscal year or month Miscellaneous-Con. Net Net excise taxes Estate and gift taxes Customs duties Net miscellaneous receipts FEDERAL FISCAL OPERATIONS ro FEDERAL FISCAL OPERATIONS Table FFO-3. [In m<nions of dollars. Legislative branch The judiciary 1981 1982 1,209 1,362 637 705 1983 (Est.) 1984 (Est.) 1,541 n.a. Fiscal year or month 1982-Mar Apr May June July Aug Sept Oct Nov Dec 1983-Jan Feb Mar Fiscal 1983 to date 118 110 91 104 145 123 109 103 120 145 104 91 122 685 - Budget Outlays by Agency Source: Monthly Treasury Statement of Receipts and Outlays of the United States Government] 99 48 74 62 47 77 46 50 91 53 54 77 57 Executive Office of the President 96 95 10 6 7 8 9 7 10 5 7 11 6 7 Funds appropriated to the President Agriculture Department Conmerce Department Defense Department Military 7,010 6,073 26,030 36,213 2,226 2,045 156,035 182,850 3,148 2,971 7,365 48,313 2,001 208,979 3,158 n.a. n.a. n.a. n.a. 975 481 535 -90 217 4,394 2,484 1,362 1,526 2,668 2,184 3,026 4,107 5,374 7,499 5,836 3,847 3,084 16,042 16,013 14,826 16,041 16,329 15,011 16,447 15,896 16,461 17.615 15,901 16,199 18,453 215 245 206 236 263 283 299 274 269 281 677 774 10 699 745 -9 966 29,746 165 167 152 145 152 165 217 147 124 170 130 141 198 100,525 Education Department Civil 247 208 221 234 15,088 Energy Department 8 FEDERAL OBLIGATIONS "Obligations" are the basis on which the use of funds 1s controlled They are recorded at the point at which the In the Federal Government. Government makes a firm commitment to acquire goods or services and are the first of the four key events order, del Ivery, payment, and conIn sumption--which characterize the acquisition and use of resources. general, they consist of orders placed, contracts awarded, services received, and similar transactions requiring the disbursement of money. — The obligational stage of Government transactions is a strategic point in gauging the Impact of the Government's operations on the national econotny. since it frequently represents for business firms the Government commitment which stimulates business Investment, including Disbursements may not inventory purchases and enployment of labor. occur for months after the Government places its order, but the order the private itself usually causes Immediate pressure on economy. Obligations are classified according to a uniform set of categories based upon the nature of the transaction without regard to its ultimate purpose. All payments for salaries and wages, for example, are reported as personnel compensation, whether the personal services are used in current operations or in the construction of capital items. Federal agencies often do business with one another; in doing so, "buying" agency records obligations, and the "performing" agency In table FO-1, obligations incurred within the records reimbursements. from those incurred outside the are distinguished Government Government. Table FO-2 shows only those Incurred outside. the Obligation data for the administrative budget fund accounts were first published in the September 1967 Treasury Bulletin, and the trust fund accounts were first published in the October 1967 Bulletin. Beginning with the April 1968 Bulletin, the data are on the basis of the recommendations of pursuant to the the concepts adopted budget President's Coirmission on Budget Concepts. - Gross Obligations Incurred Within and Outside the Federal Government by Object Class, as of Dec. 31, 1982 Table FO-1. [In millions of dollars. Source: Standard Form 225, Report on Obligations, from agencies] Gross obligations Incurred Object class Outside Personal services and benefits Personnel conpensation Personnel benefits Benefits for former personnel : 22 22 , 596 Contractual services and supplies Travel and transportation of persons Transportation of things Rent, coniTunications, and utilities Printing and reproduction Other services Suppl ies and material s 275 5,451 2,181 842 729 1,822 204 21,185 14,797 245 879 1.281 104 : Acquisition of capital assets Equipment Lands and structures Investments and loans 8,892 7.088 : Grants and fixed charges Grants, subsidies, and contributions Insurance claims and indemnities Interest and dividends Refunds >644 1,697 797 10,654 1 27,701 72,500 31,911 7,783 3.140 7,316 18.291 1 : 151 Other Unvouchered Undistributed U.S. obligations 792 280 Gross obligations incurred If 231,825 : ,145 FEDERAL OBLIGATIONS Table FO-2. - Gross by Obligations Incurred Outside the Federal Government Department [In mi'lUons of doUars. Source: or Agency, as of Dec. 31, Personal services and benefits CI assification 1982 Standard rprm 22S, Report on Obligations, from agencies] Contractual services and supplies 10 FEDERAL OBLIGATIONS Table FO-2. by - Gross Obligations Incurred Outside the Federal Government Department or Agency, as of Dec. 31, 1982-Con. [In tnilHons of dollars] Grants and fixed charges Acquisition of capital assets Classification Equipment Lands and structures Investments and loans Grants, n ACCOUNT OF THE US. TREASURY Source and Availability of the Balance in the Account of the U.S. Treasury maintained in Treasury 's operating cash of the Treasury s accounts with the Federal Reserve banks and branches and in tax and loan accounts. As the balances in the accounts at the Federal Reserve banks become depleted, they are restored by cal ing in (withdrawing) funds thousands financial institutions throughout the country from of authorized to maintain tax and loan accounts. The i 1 Deposits to tax and loan accounts occur in the normal course of uniform procedure applicable to all financial business under a nsti tut ions whereby customers of financial institutions deposit with of Government securities. them tax payments and funds for the purchase In most cases the transaction involves merely the transfer of funds from a customer's account to the tax and loan account in the same financial nsti tut ion. to the extent authori zed by the Treasury, On occasions institutions are permitted to deposit in these accounts financial proceeds from subscriptions to public debt securities entered for their own account as well as for the accounts of their customers. i i Under authority of Public Law 95-147, the Treasury implemented a program on Nov. 2, 1978, to invest a portion of its operating cash in obligations of depositaries maintaining tax and loan accounts. Under the Treasury tax and loan investment program, depositary financial institutions select the manner in which they wi participate in the program. Depositaries that wish to retain funds deposited in their tax and loan accounts in interest-bearing obligations participate under the Note Option; depositaries that wish to remit the funds to the Treasury's Reserve banks participate under the Remittance account at Federal Option. 1 1 Table UST— 1. — Elements [|In millions of dollars. of Changes in . The tax and loan system permi ts the Treasury to collect funds through financial institutions and to leave the funds in Note Option depositaries and in the financial communities in which they arise until In this such time as the Treasury needs the funds for its operations. way the Treasury is able to neutral ze the effect of its fluctuation institution reserves and the operations on Note Option financial economy i Federal Reserve and Tax and Loan Note Account Balances Figures on basis of telegraphic reports. Source: Bureau of Government Financial Operations] ^ Credits and withdrawals Tax and loan note accounts Federal Reserve accounts Recei ved directly through remittance option tax and loan 952,116 1982-Mar. Apr. May.. June. July. Aug. Sept. Oct.. Nov.. Dec. 1983-Jan.. Feb.. Mar. Taxes Withdrawals IJ Recei ved depositaries 1978 1979 1980 1981 1982 Proceeds from sales of securities 3/ Credits 1/ Fiscal year or month Marketable issues Nonmarketable issues 4/ _5/ Total credits Withdrawals (transfers to Federal Reserve accounts) FEDERAL DEBT 12 Table [In millions of dollars. FD— 1. - Summary of Federal Debt Source: Wonthly Treasury Statement of Receipts and Outlays of the United States Governinent] 13 FEDERAL DEBT Table FD — 3. [In millions of dollars. End of fiscal year or month Total Airport and airway trust fund - Government Account Series Source: Monthly Statement of the Public Debt of the United States] Employees life insurance fund Exchange Stabilization Fund Federal Deposit Insurance Corporation Federal disability insurance trust fund Federal employees retirement funds Federal hospital insurance trust fund Federal Housing Administration Federal old-age and survivors trust fund 1981 1982 153,271 176,360 189.848 201.052 210,462 3,687 4.377 5.423 4.712 3,868 2,383 2,771 3.161 3,646 4,191 1,763 4,266 3.544 3,130 3.011 5.435 7,835 9.379 11.232 13.249 4,053 5,286 7.377 3,095 6.456 53,398 61,369 71,055 81.768 94,205 11,707 13,144 14,606 18.141 20,800 1.056 1,203 1,315 1.488 1,944 26,890 23,251 20.565 20,742 9,519 1982-Har Apr May June July Aug Sept Oct Nov Dec 1983-Jan Feb Mar 196,707 198.538 201,290 205.954 201,502 199,896 210.462 205,717 199,903 205.427 203.031 199,125 196.970 4.462 4,420 4.374 4,475 4,323 4,006 3.868 3,771 3,863 4,234 4.349 4,495 4.590 3,959 3.958 4,062 4.065 4,076 4,187 4,191 4,198 4,317 4,336 4,338 4.458 4.482 2,067 2.088 1,914 1,921 2,396 2.416 3,011 2,377 474 1.394 1,513 1.564 2,239 12,753 12.653 12,839 12.860 12,738 13,211 13,249 13,042 13,225 13,147 13,207 13.668 13,527 3,622 4.510 4,887 5.633 5,732 6,008 6,456 6.643 6,119 2.373 2,783 2.946 3,297 80,362 79,488 78,528 81.464 80,492 79,641 94,205 93.191 92,244 95.637 94,816 93.893 92,978 19,719 20,374 20.436 21,752 21.254 20,882 20,800 20,145 19,465 7.885 7,808 7.732 8.190 1,635 1,635 1.700 1,700 1.700 1,735 1.944 1.944 1,944 1.944 1,945 1.944 1.945 16,003 17,478 16.742 15,714 12,820 11.394 9,519 8.033 5,847 21.723 20,387 15.793 15,159 1978 1979 1980 End of fiscal year or month Federal Sayings and Loan Insurance Corporation Federal supp. medical insurance trust fund Government life insurance fund Highway trust fund National service life insurance fund Postal Service fund Railroad retirement accounts Treasury deposit funds 1978 1979 1980 1981 1982 3.088 3.792 3,760 3.463 4.188 4.021 4,974 4.558 3.821 5.874 496 463 425 388 356 11,578 12,469 10.860 9.186 8.749 7,618 7,825 7.930 8.072 8.311 1.677 2.199 2.521 1,981 2.572 2.579 2,794 2.503 1,804 1,219 809 1,731 1.361 1,171 1,138 1982-Mar Apr Hay June July Aug Sept Oct 3,826 3.844 3,947 3,990 4.078 4.168 4.188 4,204 4.251 4,291 4.333 4,376 4.396 5,043 5.147 5,248 5,534 5,740 5,872 5,874 5,983 5.962 6,348 6,379 6,482 6.394 374 369 363 369 365 360 356 352 347 355 348 345 339 9.222 9.276 9.322 9,587 9,654 9,205 8,749 8,644 8.302 8.503 8,464 8,461 8.162 8.178 8.138 8.109 8,413 8,377 8,344 8,311 8,283 8.252 8,575 8.544 8,516 8.472 3.156 3.633 3.629 3,831 3.803 3,522 2,572 2,836 2.933 3,103 3.154 3,214 3.508 858 416 468 1,793 1.241 1.309 1.248 1.266 1.181 1.117 1,138 1.164 1.070 1.096 1.091 1,056 1.004 Nov Dec 1983-Jan Feb Mar 1.391 1,453 1,219 795 776 516 74 446 302 Unemployment trust fund Other 7.195 12,048 11.862 12,858 8.980 3.838 4,563 7.643 10,354 11.831 8.894 8,468 11.333 11,334 11.213 11.398 11.642 11.896 11.831 11.787 12.268 12.371 12.795 12.849 12.698 12.261 10.189 9.740 10.479 8,980 8.325 8.244 7.596 6.700 6,887 5.288 14 FEDERAL DEBT Table FD— 4. — Interest-Bearing Securities Issued by Government Agencies [In millions of dollars. Source: Monthly Treasury statement of Receipts and Outlays of the United States Government and Bureau of Government Financial Operations] Defense End of DepartJTient fiscal year Total or month outstanding 1978 1979 1980 1981 1982 1982-Mar Apr May June July Aug Sept Oct Nov Dec 1983^an Feb Mar Family housing and homeowners assistance 8,881 7,232 6,616 6,086 4,952 897 767 641 516 5,094 5,074 5,050 5,029 5,011 4,981 4,952 4,887 4,861 4,824 4,859 4,836 4,819 454 447 434 419 408 399 388 377 364 354 346 336 388 335 Housing and Urban Development Department Federal Housing Administration 601 551 495 432 335 382 376 363 358 353 345 335 323 311 288 282 281 271 Other independent agencies Government Export-Import National Mortgage Association United States Bank of the Off-budget Federal agency Tennessee Valley Authority U.S. Postal Service 3,166 3,004 2,842 2.715 2,165 2,141 933 661 446 1,825 1,725 1,725 1,725 1,725 250 250 250 250 250 2.165 2.165 2.165 2,165 2.165 2,165 2,165 2,165 2,165 2,165 2,165 2,165 2,165 116 110 1,725 1,725 1,725 1,725 1,725 1,725 1,725 1.725 1,725 1,725 1,725 1,725 1,725 250 250 250 250 250 250 250 250 250 250 250 250 250 111 110 109 95 88 46 45 41 90 78 72 Other Memorandum--Interest-bearing securities of non-Government agencies End of fiscal year or month 1978 1979 1980 1981 1982 Banks for cooperatives 4,317 1982-Mar Apr May June July Aug Sept Oct Nov Dec 19B3-Jan Feb Mar Farm credit banks Federal intermediate credit banks Federal land banks Federal home loan banks Federal National Mortgage Association Student Loan Marketing Association 785 584 220 220 5,135 29,297 45,950 59,024 65,553 11,555 2,676 1.821 1,388 926 20,198 17,075 12,765 10.317 7,652 27.443 45,518 54,101 76,799 98.911 38,353 46,378 52,382 56,688 68,130 1,611 220 220 220 220 220 220 220 220 220 220 220 220 220 61,405 63,381 63,409 64,506 65,743 65,657 65,553 66.449 65,877 65,014 66,300 65,796 65,653 1,388 926 926 926 926 926 926 926 926 926 926 926 926 8,717 8,217 8,217 8,217 7,652 7,652 7,652 6,813 6,813 6,813 5,802 5,802 5,802 84.780 88,156 90,191 93,354 95,487 97,848 98,911 100,836 101.959 104,188 103,622 103,775 105,148 59,270 60,478 61,996 62,660 65,563 65.733 68,130 67.916 66,852 70,052 72,247 72,221 71.366 170 290 427 406 690 1,307 1.611 1.657 1,718 1.591 1,404 1,256 1,542 15 FEDERAL DEBT Table FD— 5. — Maturity Distribution and Average Length of Marketable Interest-Bearing Public Debt Held by Private Investors [In milHons of dollars. Source: Office of Government Finance and Market Analysis in the Office of the Secretary] Maturity classes Amount outstanding privately held Within 1 year years 1978 1979 1980 1981 1982 356,501 380,530 463,717 549,863 682,043 163,819 181,883 220,084 256,187 314,436 1982-Mar Apr May June July Aug Sept Oct Nov Dec 619,030 613,576 618,699 628,997 634,556 660,583 682,043 685.969 708,769 736,148 750,274 766,075 795,087 295,476 289,000 290,476 293,266 295,118 309,446 314,436 321,081 327,565 346,321 348,444 351,150 367,383 End of fiscal year or month 1983Jan Feb Mar - Table FD-6. [In millions of dollars. End of fiscal year 1978 1979 1980 1981 1982 1982-Mar Apr May June July Aug Sept Oct Nov Dec 1983^an Feb Mar ,079,800 ,079,800 1,079,800 1,143,100 1,143,100 1,143,100 1,143,100 1,290,200 1,290,200 1,290,200 1,290,200 1,290,200 1,290,200 1 1 132.993 127,574 156,244 182,237 221,783 33,500 32,279 38,809 48,743 75,749 11.383 18.489 25,901 32,569 33,017 14.805 20,304 22,679 30.127 37,058 yrs. yrs. yrs. 4 yrs. 3 yrs. 200,544 199,278 203,612 207,106 206,380 217,258 221,783 218,673 235,443 239,263 245,990 256,133 262,985 52,612 55,329 54,361 58,425 63,022 66,347 75,749 75,944 72,644 77,569 79,758 81,077 87,013 35,822 35,565 35,701 35.651 35,583 33,097 33,017 33.065 35,750 35.677 35.708 36.846 36.837 34,576 34,404 34,549 34,549 34,453 34,435 37.058 37.206 37.367 37.318 40,374 40,869 40,869 4 yrs. Debt Subject and over mos. mos. 3 3 3 7 3 9 mos. 4 4 4 4 3 3 3 3 3 4 4 3 yrs. yrs. yrs. yrs. yrs. yrs. yrs. yrs. yrs. yrs. yrs. yrs. mos. 11 mos. mos. mos. 1 mo. mos. mos. 11 mos. 11 mos. 10 mos. 11 mos. 10 mos. mos. mos. 10 mos. to Statutory Limitation Debt outstanding subject to 1 imitation Total 798,000 830,000 925,000 999,800 1,143,100 Average length 10-20 years Source: Monthly Statement of the Public Debt of the United States] Statutory debt limit or month 20 years 5-10 years 1-5 772,691 Public debt Other debt 1/ 1/ 2/ Interest-bearing debt subject to limitation Public debt Other debt Non-interest-bearing debt subject to limitation Publ ic debt 16 FEDERAL DEBT Table FD— 7. - Treasury Holdings of Securities Issued by Government Corporations and Other Agencies [In millions of dollars. Source: Monthly Treasury Statement of Receipts and Outlays of the United States Government] Education Agriculture Department End of fiscal year or month Total Commodity Credit Corporation Rural Electrification Administration Fanners Home Admini stration 17 TREASURY FINANCING OPERATIONS, JANUARY-MARCH 1983 Auction of 2-Year Hotes On January 12 the Treasury announced that it would auction J7,?50 million 2-year notes to refund $4,647 million of notes maturing January 31. 1983, of and to raise $2,603 million new cash. The notes offered were Treasury Notes of Series 0-1985, to be dated January 31, 1983, due January 31. 1985. with interest payable on July 31 and January 31 in each year until maturity. An interest rate of 9-1/4 percent was set after the determination as to which tenders were accepted on a yield auction basis. An interest rate of 10-7/8 percent was set on the notes of Series A-1993 after the determination as to which tenders were accepted on a yield auction basis. The notes of Series A-1993 will be dated February 15, 1983, due February 15, 1993. with interest payable semiannually on August 15 and February 15 until maturity. Tenders for the notes of Series A-1993 were recei ved unti 1: 30 p.m. February 2, and totaled $10,343 million, of which $4,501 million was accepted at yields ranging from 10.92 percent, price 99.730, up to 10.96 percent, price 99.491. Noncompetitive tenders were accepted In ful at the average yield of accepted tenders. 10.94 percent, price 99.611. These totaled Competitive tenders accepted from private investors totaled $1,012 million. $3,489 million. I EST. 1 Tenders for the notes were received until 1:30 p.m., EST, January 19. and totaled $14,341 mi lion, of which $7,251 mi 11 ion was accepted at yields ranging from 9.18 percent, price 100.125, up to 9.28 percent, price 99.946. Noncompetitive tenders were accepted in full at the average yield of accepted tenders 9.25 percent, price These totaled $1,338 mi 100.000. ion. Competitive tenders accepted from private investors totaled $5,913 million. 1 , 1 1 In addition to the $7,251 million of tenders accepted in the auction process. $420 million of tenders were accepted at the average price from Federal Reserve banks as agents for foreign and international monetary authorities, and $544 million of tenders were accepted at the average price from Government accounts and Federal Reserve banks for thei r own account in exchange for maturing securities. In addition to the $4,501 mi lion of tenders accepted in the auction process, $20 mi 11 ion of tenders were accepted at the average price from Federal Reserve banks as agents for foreign and international monetary authorities, and $650 million of tenders were accepted at the average price from Government accounts and Federal Reserve banks for their own account in exchange for maturing securities. 1 February Quarterly Financing The 10-3/8 percent bonds of 2007-12 were an additional issue of the bonds dated November 15. 1982, due November 15, 2012, with interest payable on May 15 and November 15 until maturity. The bonds were auctioned on a yield basis, this being the first occasion on which an outstanding issue of notes or bonds was sold by means of a yield-type auction. On January 25 the Treasury announced that it would sell to the public at auction, under competitive and noncompetitive bidding, up to $6,500 million of 3-year notes of Series L-1986. $4,500 million of 10-year notes of Series A1993, and $3,500 million of 29-3/4-year 10-3/8 percent bonds of 2007-12 to refund $5,769 million of publicly held Treasury securities maturing February 15, and to raise $8,700 million new cash. lenders for the bonds were received until 1:30 p.m., EST, February 3. and totaled $5,197 million, of which $3,502 niilllon was accepted at yields ranging from price 94.650, 10.98 percent, up to 11.05 percent, price 94.071. Noncompetitive tenders were accepted in full at the average yield of accepted tenders, percent, price 11.01 94.401. These totaled $655 million. Competitive tenders accepted from private investors totaled $2,847 million. An interest rate of 9-7/8 percent was set on the notes of Series L-1986 after the determination as to which tenders were accepted on a yield auction basis. The notes of Series L-1986 will be dated February 15, 1983, due February 15, 1986, with interest payable semiannual ly on August 15 and February 15 until maturity. In addition to the $3,502 mil ion of tenders accepted in the auction process. $439 million of tenders were accepted at the average price from Government accounts and Federal Reserve banks for thei r own account and in exchange for maturing securities. Tenders for the notes of Series L-1986 were received until 1:30 p.m., February 1, and totaled $12,292 million, of which $6,501 million was accepted at yields ranging from 9.90 percent, price 99.936. up to 10.02 percent, price 99.632. Noncompetitive tenders were accepted in full at the average yield of accepted tenders. 9.98 percent, price 99.733. These totaled Competitive tenders accepted from private investors totaled $1,535 million. $4,966 ml llion. EST, In addi tion to the $6,501 mi llion of tenders accepted in the auction process. $420 million of tenders were accepted at the average price from Federal Reserve banks as agents for foreign and international monetary authorities, and $1,100 million of tenders were accepted at the average price from Government accounts and Federal Reserve banks for their own account in exchange for maturing securities. Auction of 2-Year Notes On February 9 the Treasury announced that It would auction $7,500 million of 2-year notes to refund $4,939 million of notes maturing February 28, 1983. and to raise $2,561 million new cash. The notes offered were Treasury Notes of Series R-1985, to be dated February 28. 1983, due February 28. 1985, with interest payable on the last day of August and February in each year until maturity, issued in a minimum denominatiqn of $5,000. An interest rate of 95/8 percent was set after the determination as to which tenders were accepted on a yield auction basis. Tenders for the notes were received until 1:30 p.m.. EST, February 16. and totaled $14,934 million, of which $7,501 million was accepted at yields ranging from 9.65 percent, price 99.955. up to 9.73 percent, price 99.813. Noncompetitive tenders were accepted in full at the average yield of accepted tenders, 9.71 percent, price 99.849. These totaled $1,455 million. Competitive tenders accepted from private Investors totaled $6,046 million. 1 Payment for accepted tenders in all three auctions was requi red to be completed on or before February 15, 1983, in cash, maturing securities, or other funds immediately available to the Treasury. 52 -Week ills January 14 tenders were invited for approximately $7,500 million of 354-day Treasury bills to be dated January 27, 1983, and to mature January 26. The issue was to refund $5,294 million of 364-day bills maturing 1984, January 27 and raise about $2,206 million new cash. Tenders were opened on January 20. They totaled $17,024 million, of which $7,501 million was accepted, including $513 million of noncompetitive tenders from the public and $1,180 million of the bills issued at the average price to Federal Reserve banks for themselves and as agents for foreign and International monetary authorities. The average bank discount rate was 8.007 percent. On Tenders for the notes were received until 1:30 p.m. , EST, February 23, and totaled $10,944 million, of which $5,500 million was accepted at yields ranging from 9.94 percent, price 99.646, up to 10.00 percent, price 99.406. Noncompetitive tenders were accepted in full at the average yield of accepted tenders. 9,96 percent, price 99.566. These totaled $911 million. Competitive tenders accepted from private investors totaled $4,589 million. In addition to the $6,500 mi ion of tenders accepted in the auction process, $435 million of tenders were accepted at the average price from Federal Reserve banks as agents for foreign and international monetary authorities. 1 1 52-Heek Bills In addition to the $7,501 mi II ion of tenders accepted in the auction process, $340 million of tenders were accepted at the average price from Federal Reserve banks as agents for foreign and international monetary authorities, and $499 million of tenders were accepted at the average price from Government accounts and Federal Reserve banks for their own account in exchange for maturing securities. On February 11 tenders were invited for approximately $7,750 million of 364-day Treasury bills to be dated February 24, 1983. and to mature February The issue was to refund $5,271 million of 354-day bills maturing 23, 1984. February 24 and to provide about $2,479 million new cash. Tenders were opened on February 17. They totaled $18,275 million, of which $7,750 million was accepted, including $555 million of noncompetitive tenders from the public and ion of the bi s issued at the average price to Federal Reserve $1. 395 mi banks for themselves and as agents for foreign and international monetary authorities. The average bank discount rate was 8.308 percent. Auction of 5-Year 2-Honth Notes Cash Management Bills February 15 the Treasury announced that it would auction $5,500 million of 5-year 2-month notes to raise new cash. The notes offered were Treasury Notes of Series H-1988, to be dated Harch 1. 1983, due Hay 15. 1988. with interest payable on November 15 and May 15 in each year until maturity, issued in a minimum denomination of $1,000. An interest rate of 9-7/8 percent was set after the determination as to which tenders were accepted on a yield auction basis. On February 26 tenders were invited for approximately $9,000 million of 45-day bills to be issued March 7. 1983, representing an additional amount of bills dated April 22. 1982. maturing April 21, 1983. The issue was to raise new cash. Tenders were opened on March 2. They totaled $33,523 million, of which $9,004 million was accepted. The average bank discount rate was 8.128 percent. On 1 1 1 1 18 TREASURY FINANCING OPERATIONS, JANUARY-MARCH 1983 Auction of 2-Year Notes 1 On March 9 the Treasury announced that it would auction $7,750 million of 2-year notes to refund J4.695 million of notes maturing March 31. 1983. and to ion new cash. The notes offered were Treasury Notes of raise $3,055 mi Series S-1985. to be dated March 31. 1983. due March 31. 1985. with interest payable semiannually on September 30 and March 31 until maturity. An interest rate of 9-5/8 percent was set after the determination as to which tenders were accepted on a yield auction basis. 1 In addition to the $5,502 million of tenders accepted in the auction ion of tenders were accepted at the average price from process, $67 5 mi Federal Reserve banks as agents for foreign and international monetary authorities, and $300 million of tenders were accepted at the average price from Government accounts and Federal Reserve banks for their own account in exchange for maturing securities. 1 1 An interest rate of 10-1/2 percent was set on the notes of Series D-1990 after the determination as to which tenders were accepted on a yield auction basis. The notes of Series D-1990 will be dated April 4, 1983, due April 15, 1990, with interest payable semiannual ly on October 15 and Apn 15 unti 1 maturity. 1 Tenders for the notes were received until 1:30 p.m., EST, March 16, and totaled $13,503 mi ion, of which $7,758 mi ion was accepted at yields ranging from 9.60 percent, price 100.045, up to 9.70 percent, price 99.867. Noncompetitive tenders were accepted in full at the average yield of accepted tenders. percent, price These totaled 9.66 99.938. $1,680 million. Competitive tenders accepted from private investors totaled $6,078 million. 1 1 1 1 In addition to the $7,768 million of tenders accepted in the auction process. (710 mi ion of tenders were accepted at the average price from Federal Reserve banks as agents for foreign and international monetary authorities, and $600 million of tenders were accepted at the average price from Government accounts and Federal Reserve banks for their own account in exchange for maturing securities. 1 1 Auctions of 4-Tear Notes, 7-Year Notes, and 2Q-Tear 1-Honth Bonds An interest rate of 10-1/4 percent was set on the notes of Series H-1987 after the determination as to which tenders were accepted on a yield auction basis. The notes of Series H-1987 will be dated March 31. 1983. due March 31. 1987. with interest payable semiannually on September 30 and March 31 until maturity. Tenders for the notes of Series H-1987 were received until 1:30 p.m.. EST, March 22. and totaled $11,796 million, of which $5,502 million was accepted at yields ranging from 10.25 percent, price 100.000. up to 10.33 percent, price 99.743. Noncompetitive tenders were accepted in full at the average yield of accepted tenders, 10.30 percent, price 99.839. These totaled Competitive tenders accepted from private investors totaled $1,298 million. $4,204 million. Tenders for the notes of Series D-1990 were received until 1:30 p.m., March 23. and totaled $11,744 million, of which 54.766 million was price 99.740. up to 10.59 accepted at yields ranging from 10.55 percent percent, price 99.546. Noncompetitive tenders were accepted in full at the average yield of accepted tenders. 10.58 percent, price 99.594. These totaled Competitive tenders accepted from private investors totaled $1,103 million, $3,663 million. EST. , ion of tenders accepted in the auction In addition to the $4. 766 mi process $260 mi lion of tenders were accepted at the average price from Federal Reserve banks as agents for foreign and international monetary authorities. 1 . 1 1 An interest rate of 10-3/4 percent was set on the bonds after the determination as to which tenders were accepted on a yield auction basis. The bonds of 2003 will be dated April 4, 1983, due May 15, 2003, with interest payable semiannually on November 15 and Hay 15 until maturity. Tenders for the bonds were received until 1:30 p.m., EST, March 24, and totaled $7,703 million, of which $3,251 million was accepted at yields ranging from 10.78 percent, price 10,84 percent, price 99.207. 99.694. up to Noncompetitive tenders were accepted in full at the average yield of accepted tenders. percent, price These totaled million. 10.81 99.450. $743 Competitive tenders accepted from private investors totaled $2,508 million. 52-Week Bills On March 11 tenders were invited for approximately $7,750 million of 364. day Treasury bills to be dated March 24, 1983, and to mature March 22, 1984, The issue was to refund $5,277 million of 364-day bills maturing March 24 am ion new cash. Tenaers were opened on March 17, to raise about $2,473 mi They totaled $17,232 million, of which $7,751 million was accepted, includini $532 million of noncompetitive tenders from the public and 51.930 million the bills issued at the average price to Federal Reserve banks for themselve: The average and as agents for foreign and international monetary authorities. bank discount rate was 8.427 percent. 1 1 ^ 19 PUBLIC DEBT OPERATIONS PDO-1 - Table Maturity Schedule of Interest-Bearing Marketable Public Debt Securities Other than Re Weekly and 52Week Treasury B ills Outstanding, Mar. 31, 1983 [In millions of dollars. Source: Montniy Stat ement of the Public Debt of the United States, and Office of Government Finance and Harke t Analysis in the Office of the Secretary] flmount of maturities Amount of maturities Held by 1/ Date of final maturity 1983 Apr. Apr. Hay "ay Hay JunelS, 78-63 June 30 June 30 July 31.... Aug. 15.... Aug. 15 Aug. 31. Sept. 30.. Sept. 30.. Oct. Oct. 31... Nov. 15... Nov. 15... Dec. Dec. 31.... 31.... Issue date 1-1/2%-EA 11-1/21-0 7-7/8%-C 11-5/81 -G 15-5/8I-R 3-1/41 8-7/8J-E 14-5/8I-S 15-7/8t-T 11-7/8X-J 9-1/4X-K 16-1/4%-U 9-3/4I-F 16%-V 1-1/2%-EO 15-1/21-U 71-8 9-7/81 -L 12-1/8I-K 10-1/2I-H 131-T Note Note Note Note Note Bond Note Note Note Note Note Note Note Note Note Note Note Note Note Note Note Total Total 1984 Jan. Feb. Feb. Har. Har. Apr, Apr. Hay Hay Hay Hay June July Aug Aug. Aug. Aug. Sept. Oct. Nov. Nov. Nov. Dec. Dec. 15I-N 7-1/n-H 30. . 15 15.... 15.... 31.... 30... 31... 15... 15... 15 31 30... 31.... 15.... 15 30.... 31 31 15-1/8J-P 14-1/4X-D 14-1/81-0 1-1/21-EA 13-7/81-R 9-1/4I-C 13-1/4I-G 15-3/4X-I; 13-3/41-S S-7/8X-E 14-3/8J-T 13-1/SI-U 6-3/8t 7-1/45-B 13-1/4X-J 11-5/8I-V 12-1/8X-F 9-3/4I-I 16I-L 14-3/8X-H 9-7/8X-y 14X-H 9-3/8I-Z Note Note Note Note Note Note Note Note Note Note Note Note Note Note Bond Note Note Note Note Note Note Note Note Note Note 2/01/82 2/15/77 3/01/82 3/31/80 3/31/82 4/01/79 4/30/82 9/05/79 11/17/80 5/15/81 6/01/82 6/30/80 6/30/82 8/02/82 8/15/72 8/15/77 2/17/81 8/31/82 9/30/80 11/01/82 8/17/81 11/16/81 11/30/82 12/31/80 12/31/82 Total 1985 Jan. Feb. Feb. 15.... Feb. 28.... Har. 31 Mar. 31 May 15.... Hay 15 Hay 15.... Hay 15. Hay 15.75-85 June 30.... Aug. 15.... Aug. 15.... Aug. 15 Sept. 30 Nov. 15.... NOV. 15 Dec. 31 15., 15 31 15, IS 30, 15, 30, 15, 15, 15., 9-1/41-0 ei-A 14-5/6X-L 9-5/8X-R 13-3/8X-G 9-5/8I-S 14-3/81-0 10-3/8X-C 3-1/4X 14-1/8I-H 4-1/41 14I-H 8-1/4X-B 9-5/8I-E 13-1/8X-N 15-7/8X-J 11-3/4X-F 9-3/4I-P 14-1/8X-K Note Note Note Note Note Note Note Note Bond Note Bond Note Note Note Note Note Note Note Note 13-1/21 -C 9-7/8I-L 14I-G 13-3/4X-0 7-7/6X-A 14-7/8X-H 8X-B 12-1/4X-J 16-1/6I-F 6-1/8X 13-7/8I-E lOI-K Note Note Note Note Note Note Note Note Note Bond Note Note 12/08/80 2/15/83 3/31/82 3/04/81 5/17/76 7/06/82 8/16/76 9/30/82 9/08/81 11/15/71 6/03/81 12/31/82 9I-B 12-3/41-0 10-1/4X-H 12X-C 14I-E 13-3/4I-F 7-5/8X-A 12- 5/81 -G Note Note Note Note Note Note Note Note 2/15/79 12/02/81 3/31/83 2/15/80 3/03/82 6/02/82 11/15/77 9/07/82 Total 1988 Jan. Feb. Apr. Hay Hay July Oct. Nov. 1969 Jan. 4,586 2,573 3.618 4.763 979 3,123 4.607 4.974 4,285 6.570 5.431 2,802 5,268 342 113 862 525 157 426 490 387 1,086 3,214 643 284 459 4,244 2,460 2,756 4,238 822 2.697 4.117 4,567 3.199 3.456 4,788 2.518 4.809 1 636 105 2,025 694 635 4,834 2.204 3,807 4,799 2.430 4.792 80,912 13.354 67,558 558 3,913 651 573 5.650 4,525 5,299 2.341 5.594 5,950 2,914 6.219 5,877 2.587 4.315 3,776 6,018 3,726 6,232 7,177 2.171 2,863 4,662 7,492 11,012 7,890 5,780 6,213 271 625 3,620 8,009 826 69 510 776 430 510 837 1.152 1.205 385 860 596 889 476 1,189 1,067 437 309 600 3,000 5,588 3.216 5,395 6,025 966 2,478 3.802 6,696 10,123 7,412 4,591 5,126 7,134 3,311 7.409 136,720 19.465 117,255 7,571 5.051 2.518 3,805 U.S. Gov't Issue date 14-5/8J-C 14-3/8X-D 9-1/4X-A 14-1/2X-E 11-7/8X-F 10-3/4I-B Apr. May July Oct. Nov. 1,448 355 499 389 40 600 264 147 1,627 268 250 1,624 84 1.400 385 5 600 171 7,754 2,755 5,533 7,935 3,397 9,130 2,119 2,275 298 5,325 440 3,143 3,213 3,209 6,087 3,576 3,082 6.386 3.259 89,616 10,700 76.916 3,188 8.107 4,215 3,460 5,219 4,758 9,515 5,813 3,469 1.196 3,206 5,908 43 1.100 295 3.145 7,007 3,920 3,433 4,061 4,409 7,515 5,713 3,255 332 3,184 5,565 27 1.158 349 2,000 100 214 864 58,054 6,515 6,238 1,659 n.a. 300 498 3,437 V6. 522 2.472 3,519 4,078 2,387 5,384 17 7 51.539 4.579 n.a. 6,222 1,974 3,502 4,071 1,771 n.a. 34.037 22,119 15., IS.. IS., 15.. 15., 15.. 12-3/8I-C 10-1/81 -G 13-1/4X-0 9-7/8I-H 8-l/4t-A 14X-E 15-3/8I-F 8-3/4X-B Total Note Note Note Note Note Note Note Note 1/05/81 12/02/82 4/06/81 3/01/83 5/15/78 7/07/81 10/14/81 11/15/76 2.710 5.040 2.972 5.955 4.148 3.469 3,474 3.445 2,705 n.a. 142 n.a. 1.754 23 238 1,139 2.830 Note Bond Bond Note Note 1/04/83 2/14/58 4/07/75 8/15/60 4.842 1,114 1,203 3,762 U/17/80 5,701 342 1.186 644 16,622 2.479 2.047 2.812 2.886 324 456 3.508 3.348 2.628 4.723 4,237 5.779 1.942 24,223 2.467 other investors 3.495 3,346 4,672 n.a. 3.837 1990 "Tan. Feb. May Aug. Nov. 15... 15... 15... 15... 15... 10-1/2X-C 3-1/2X 8-1/4X 10-3/4X-A 131-8 Total 661 2,576 5,057 1991 May Aug. 15.. 15.. 15.. 14-1/2X-A 14-7/8X-B 14-1/4I-C Not Note Note 5/15/81 8/17/81 11/16/81 Note Note Bond Bond Note 2/16/82 5/17/82 8/15/62 7/08/77 11/15/82 8ond Bond Bond Bond Bond 2/15/83 1/17/63 1/10/73 1/06/78 8/15/73 7/11/78 10/10/76 Bond Bond Bond Bond 1/11/79 4/18/63 7/09/79 10/18/79 3,010 670 1,506 1,502 97 330 Bond Bond Bond Bond Bond 2/15/55 1/10/80 4/08/80 7/09/80 10/14/80 255 1.502 1.503 1.504 1,482 57 198 26 1.474 1,173 1,492 1,450 Total 405 7,745 1,723 2,356 2.481 6,560 1992 ~Teb. 15.... Hay 15 Aug. 15. 67-92 Aug. 15 Nov 15.. 14-5/8X-A 13-3/4I-B 4-1/41 7-1/41 10-1/2I-C Total 2,813 10,798 2,003 1,504 4,331 182 1,853 1,056 2,631 8,945 947 1.412 4,081 21.449 18,016 5.171 4,521 69 418 1,365 593 1,636 1,350 1993 Feb. 16 Feb. 15,88-93 Feb. 15 Feb. 15 Aug. 15, 86-93 Aug. 15 Nov. 15 10-7/8X-I 4X 6-3/4X 7-7/81 7-1/2X 8-5/SI 8-5/8X Total III 627 1.501 1.814 1,768 1.509 1,221 132 159 12.501 9,952 1994 Feb. 15 May 15.69-94 Aug. 15 Nov. 15 9X 4-1/6X 8-3/41 10-1/8X Total 1995 Feb. Feb. Hay Hay Nov 15 31 15. 15. 10-1/21 12-5/8X 10-3/81 11-1/2X 15. May 5,93-98 7X 3-1/2X 2.913 340 1.454 1,453 6,160 330 12 32 6.246 Bond Bond 5/15/73 10/03/60 692 733 5/15/74 2.378 Bond Bond 2/18/75 8/15/75 2,749 4,612 Bond Bond Bond Bond 1/12/81 4/02/81 8/16/76 7/02/81 10/07/81 5,787 228 162 Total.., 1999 Ray 15,94-99 2000 Fib. 15,95-00 Aug. 15. 95-00 7-7/81 8-3/81 595 2,067 2,154 2,545 7.361 2001 F5b. 15 Hay 15.... Aug. 15,96-01 Aug. 15 Nov. 15 11-3/4X 13-1/81 13-3/61 15-3/4X 1,501 1,750 1,485 1,753 1,753 n.a. 16 741 1,709 1,646 8,242 5,833 2002 Feb. 14-I/4I 11-5/8X Bond Bond 1/06/82 9/29/82 10-3/ 4X Bond 1/04/83 ~5iay 15,00-05 8-1/4J Bond 5/15/75 2007 Feb. 15,02-07 Nov. 15,02-07 -5/8X -7/8X Bond Bond 2/15/77 11/15/77 8-3/6X 6-3/4X Bond Bond 8/15/78 11/15/78 2.103 5,230 749 1.611 Bond Bond 5/15/79 11/15/79 4,606 4,201 725 620 Bond Bond Bond 2/15/80 5/15/80 11/17/80 2.494 2,987 4,736 662 1.070 529 Bond Bond 5/15/81 11/16/81 Bond 11/15/62 1,759 2,753 4,512 3.007 2005 2006 Jog. 15,03-08 Nov. 16, 03-08 2009 "Hay NOV. 15,04-09 9-1/6X 15,04-09 10-3/81 2010 FFb. 15,05-10 Hay 15,05-10 Nov. 15.05-10 11-3/4X 101 12-3/41 10,217 2011 Ray 15,06-11 Nov. 15. 06-11 n.a. 2,394 3,446 3,236 2,306 accounts and Federal Reserve banks 1/13/82 4/07/82 5/15/79 7/08/82 9/29/82 11/15/79 Total 15. 15.. Total Note Note Note Note Note Note Total 1 5,470 2,309 5.832 5,493 2,701 5,427 1/31/83 8.298 2/15/78 4,203 2/16/82 5,888 2/28/83 8.434 3/31/81 3,786 3/31/83 2/9,170 3/03/80 2.719 12/04/79 2,539 6/03/58 445 5/17/82 6.952 4/05/60 708 6/30/81 3,393 8/15/78 4,637 6/05/80 3.293 8/16/82 7,487 9/30/81 3,961 9/03/80 3.087 11/15/82 6.986 12/31/81 3,430 Total 1987 Feb. Feb. Har. Hay Hay Aug. Nov. Nov. Date of final maturity Total Total 1986 Feb. Feb. Har. Hay Hay June Aug. Sept. Nov. Nov. NOV «11 other investors Federal Reserve banks 4/01/78 4/30/81 4/05/78 11/15/79 6/01/81 5/01/53 7/02/79 6/30/81 7/31/81 2/15/80 5/15/80 8/31/81 10/10/79 9/30/81 10/01/78 11/02/81 11/15/76 8/15/80 11/30/81 12/31/79 12/31/81 Held by 1/ U.S. Gov't accounts and 13-7/81 141 Total Nov. 15.07-12 10-3/81 4,609 4.901 9,510 1.302 7.104 598 20 PUBLIC DEBT OPERATIONS Table PDO-2. - Amounts of bids accepted Description of new issue Maturity date Number of days to maturity _1/ Regul ar weekly: (13-week and 26-week) 1982-Dec. 1983-Mar. June Mar. June Mar. June Mar. June Mar. June Apr. July Apr. July Apr. July 2 9 16 23 30 19e3-Jan. 6 13 20 Feb. 27 Apr. 3 July May 10 Aug. May Aug. 17 May 7 7 14 14 21 21 28 28 5 4 Aug. 3 June 2 Sept. 1 10 June Aug. May Sept. 17 June 24 June 31 June Sept. Sept. Sept. 52 weeks 9 17 16 24 23 31 30 12 11 19 18 26 25 24 Mar. 3 2 10 9 8 16 15 23 22 30 29 : 1982-Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. Dec. 1983-Jan. Feb. Mar. 25 22 20 17 15 12 9 7 4 2 30 27 24 24 Cash management 1982-Dec. 6 1983-Mar. 7 1983-Mar. Apr. May June July 24 21 19 16 14 Aug. Sept. Oct. Nov. Dec. Dec. 1984-Jan. Feb. Mar. 11 29 26 23 22 1983-Apr. Apr. 21 8 6 3 1 : 28 Offerings of Bills Source: Monthly Statement of the Public Debt of the United States and allotments] [Amounts in millions of dollars. 91 Amount of bids tendered Total amount On com- On noncom- petitive petitive basi basi s 2/ s _3/ Amount maturing on ssue date of new offering i Total unmatured issues outstanding after new issues PUBLIC DEBT OPERATIONS Table PDO-2. - Offerings of Bills-Continued 21 22 PUBLIC DEBT OPERATIONS Table PDO-3. - Public Offerings of Marketable Securities Other than Regular Weekly Treasury Bills [Dollar amounts in millions. Date subscrip- Source: Bureau of the Public Debt] PUBLIC DEBT OPERATIONS Table PDO-3. - Public Offerings of Marketable Securities Otfier than Regular Weekly Treasury Bills-Continued [Dollar amounts in millions] Date subscrip. 24 PUBLIC DEBT OPERATIONS 25 PUBLIC DEBT OPERATIONS Table PDO-4. - Allotments by Investor Classes on Subscriptions for Public Marketable Securities-Continued Part B - Bills Other than Regular Weekly Series [Dollar amounts tn millions. Source: Subscription and allotjnent reports] \J Includes trust funds and accounts that comprise Government accounts under the unified budget concept. 2/ Exclusive of banks and insurance companies. 7/ Included with all other investors are certain Government deposit accounts and Government-sponsored agencies included with Government accounts. Note. --For detail of offerings see table POO-3. formerly 26 U.S. SAVINGS BONDS AND NOTES Series EE bonds, on sale since Jan. 1, 1980, are the on!y savings bonds currently sold. Series HH bonds are issued in exchange for series and EE savings bonds and savings notes. Series A-D were sold from E Mar. 1, 1935, through Apr. 30, 1941. Series E was on sale from May 1, through Dec. 31, 1979 (through June 1980 to payroll 1941, savers only). Series F and G were sold from May 1, 1941, through Apr. 30, Series H was sold from June 1, 1952, through Dec. 31. 1979. 1952. Series HH bonds were sold for cash from Jan. 1, 1980. through Oct. 31, 1982. Series J and K were sold from May 1, 1952, through Apr. 30, 1957, Table SBN-1. - U.S. savings notes were on sale May 1, 1967, through June 30, 1970. The notes were eligible for purchase by individuals with the simultaneous purchase of series E savings bonds. The principal terms and conditions for purchase and redemptions and information on investment yields of savings notes appear In the Treasury Bulletins of March 1967 and June 1968; and the Annual Report of the Secretary of the Treasury for fiscal year 1974. Sales and Redemptions by Series, Cumulative through Mar. 31. 1983 Source: Monthly Statement of the Public Debt of the [In millions of dollars. United States; Market Analysis Section, United States Savings Bonds Division] Amount outstanding Sales 1/ Savings bonds: Series A-D 2/ Series E, ET, H, and HH. Series F and G Series J and K Savings notes Total 3,949 Accrued discount Sales plus accrued discount Redemptions 1/ Interestbearing debt Matured non-interestbearing debt U.S. Table SBN-3. - 27 SAVINGS BONDS AND NOTES Sales and Redemptions by Period, Series E, EE, H, and HH [In millions of dollars. Source: Monthly Statement of the Public Debt of the United States; Market Analysis Section, United States Savings Bonds Division] Redemptions Sales Accrued discount Sales plus accrued discount Sales price Series Fiscal years : 1941-80 203,857 3,303 3,062 1981 1982 Calendar years 1941-80 : 204,680 1981 1982 3,256 3,182 Months 1982-Mar Apr May June July : 261 251 241 253 244 271 Aug Sept Oct Nov Dec 255 270 312 314 1983-Jan Feb Mar Fi seal years 321 309 364 : 1952-80 13,471 1981 1982 53 50 Calendar years 1952-80 1981 1982 : 13.457 79 77 Months 1982-Mar Apr May June July Aug : Sept Oct Nov Dec 1983-Jan Feb Mar 6 5 1 -3 44 -36 3 23 14 3 13 23 -17 64,472 E and EE Accrued discount Exchange of E bonds for H and HH bonds Amount outstanding Interestbearing debt Matured non-interestbearing debt 28 OWNERSHIP OF FEDERAL SECURITIES Table OFS-1. - Distribution of Federal Securities by Class of Investors and Type of Issues [In milHons of dollars] Interest-bearing public debt securities End of Total Federal fiscal year or month securities outstanding Held by U.S. Government accounts Total Public issues outstanding Nonmarketable hel d by Federal Reserve banks 780.425 833,751 914.317 1978 1979 1980 1981 1982 1 ,003 .942 1.146,987 1982-Har Apr May June July Aug Sept Oct 1 .066 .393 1.070,734 1 .076 .798 1 .084,658 1 .094 .628 1,114,214 1,146,987 1,147,713 Nov Dec 1983-Jan Feb Mar 166 ,569 201 , 898 ,205 ,999 ,220, 132 1 , 1 , 1 1 1,249,312 766,971 819,007 906,402 996,495 1,140,883 167,973 187,683 197,743 208,076 216,404 13,886 11,379 10,078 9,016 7,944 1,059,815 1,064,538 1,066,410 1,078,431 1,083,296 1,108,131 1,140,883 1,136.826 1.160.489 1,195,496 1,199,599 1,213,742 1,242,993 202,456 204,269 206,689 211.749 206,302 205.839 216,404 210,986 203,920 209,355 206,958 203,274 201.155 8,001 8,001 7,583 7,994 6,882 7,295 7.944 7,061 5,985 5,976 5,562 eso 661 Interest-bearing public debt securities End of fiscal year or month — Con. Held by private investors Marketable Total Nonmarketable 1978 1979 1980 1981 1992 484,234 515,866 587,948 664.099 790,096 356,501 379.856 463,717 549,863 682.085 127,733 136,010 1982-Mar Apr 731,770 726,012 730,314 739.677 744.354 769,434 790,086 793,760 818,893 846,829 860,273 874,907 905.187 619.030 613,575 618,698 628.996 634,556 661,274 682,085 685,521 708,802 736,188 750,329 771,441 800.439 112,740 112,437 111,616 110.681 109,798 108,160 108,001 108,239 110,091 110,641 109,944 103.466 104.748 May June July Aug Sept Oct Nov Dec 1993-Jan Feb Mar 1/176,304 187.665 199.060 208.460 114,764 115,458 120,711 124,330 134,393 194.455 196.269 199.106 203,755 199,420 198.544 208,460 203,925 197,935 203,379 200.996 202.624 200,494 125,589 134,257 129,407 127,005 132.640 132.858 134,393 132,080 137,676 139,312 132,368 135,561 136.651 Agency securities Matured public Total debt and debt bearing no interest outstanding 4.573 7.512 1.299 1.360 124,231 114,226 108,001 VI 54, 087 ~ 1.151 7,232 6.616 6,086 4,952 1.484 1.121 5.339 1,198 6.321 1.101 1.151 5,999 1,219 1,576 1,441 1,554 1,498 5,094 5,074 5,050 5,029 5,011 4,981 4,952 4.887 4.861 4.824 4.859 4.836 4.819 Held by U.S. Government accounts and Federal Reserve banks Held by private investors 1.705 1.614 1,605 1,586 1,340 7,176 5,619 5,011 4,500 3,612 1,277 1,275 1,267 1,265 1.264 3,817 3.799 3,783 3,764 3,747 3,720 3,612 3.630 3,605 3,569 1,261 1,340 1,257 1.256 1.255 1,235 1,232 1,229 3,624 3,604 3,590 1/ Includes other nonmarketables of S2.056. Table OFS-2. - Estimated Ownership of Public Debt Securities by Private Investors Source: Office of Government [Par values^/ in billions of dollars. Finance and Market Analysis in the Office of the Secretary] Monbank investors Individuals 3/ End of month 1976^une Dec 1977-June Dec 1978June Dec Other securities Insurance companies Money market Corporations 5/ State and Foreign and international Other investors 8/ Total Commer- privately held cial banks 2/ 376.4 409.5 91.4 103.5 285.0 306.0 96.1 101.6 69.6 72.0 26.5 29.6 14.4 16.2 23.3 23.5 33.3 39.2 69.8 78.1 47.2 46.3 421.0 461.3 102.7 318.3 362.4 104.9 107.9 74.4 76.7 30.5 31.1 18.1 19.9 22.1 18.2 45.8 50.9 87.9 109.6 38.7 55.1 29.9 33.3 19.7 20.0 1.3 1.5 17.3 17.3 58.1 62.8 119.5 137.8 60.2 Savings bonds 4/ 477.8 508.6 97.8 95.0 380.0 413.6 109.0 114.0 80.7 79.1 local funds governments 6/ 7/ 55.1 516.6 540.5 86.1 88.1 430.5 452.4 115.5 118.0 80.6 79.9 34.9 38.1 20.9 21.4 3.8 5.6 18.6 17.0 69.9 71.8 119.7 123.7 83.1 94.9 1980-June Dec 558.2 616.4 97.4 112.1 460.8 504.3 116.5 117.1 73.4 72.5 43.1 44.6 22.3 24.0 5.3 3.5 14.0 19.3 75.9 94.4 122.8 134.3 104.0 121.7 1981-Mar June Sept 654.6 651.2 665.4 694.5 117.0 119.7 112.7 111.4 537.6 531.5 552.7 583.1 105.2 107.4 109.7 110.8 70.4 69.2 68.3 68.1 34.8 38.2 41.4 42.7 25.6 26.4 27.6 29.0 14.5 9.0 11.4 21.5 17.0 19.9 18.0 17.9 89.5 93.3 p95.7 p99.5 142.9 141.4 135.5 141.4 143.9 134.1 P154.9 P163.0 Dec 733.3 740.9 781.2 849.4 116.1 116.1 117.8 131.4 617.2 624.8 663.4 717.0 112.5 114.1 115.6 116.5 67.5 67.4 67.6 68.3 45.0 46.7 48.0 48.2 p31.2 p32.0 p34.7 p38.7 25.7 22.4 38.6 42.6 16.9 17.1 19.7 23.2 P102.9 pl07.3 pll2.1 pll3.4 140.8 141.9 146.4 149.4 P187.0 P189.7 P196.3 P233.2 1983-Mar 906.6 153.2 753.4 116.7 68.3 p48.4 p40.0 44.8 n.a. 1979-June Dec Dec 1982-Mar June Sept savings bonds, series A-F and J. are included at current redemption value. Includes domestically chartered banks. U.S. branches and agencies of foreign banks. New Ifork investment conpanies majority owned by foreign banks, and Edge Act corporations owned by domestically chartered and foreign banks. 3/ Includes partnerships and personal trust accounts. T/ Includes U.S. savings notes. Sales began May 1. 1967. and were discontinued June 30, 1970. 1/ U.S. V pl56.3 5/ Exclusive of banks and insurance companies. Includes State and local pension funds. 7/ Consists of the investment of foreign balances and international accounts in the United States. 8/ Includes savings and loan associations, credit unions, nonprofit institutions, mutual savings banks, corporate pension trust funds, dealers and brokers, certain Government deposit accounts, and Government-sponsored agencies. "5/ 29 MARKET BID YIELDS ON TREASURY SECURITIES Table MBY-1, - Treasury Market l-yr Monthly average 1982-Apr May June July Aug Sept Oct Nov Dec 1983-Jan Feb Mar U.30I 12.63 13.04 11.84 9.00 8.19 7.97 8.34 8.Z1 8.12 8.40 8.6 7 13.87% 13.14 13.73 12.81 10.54 9.97 8.77 8.82 8.62 8.37 8.70 End of month 1982-Apr May June July Aug Sept Oct Nov Dec 1983-Jan Feb Mar 12.90 11.99 13.37 10.57 8.72 7.88 8.17 8.57 8.19 8.37 8.20 8.9 7 13.50 12.55 14.13 11.96 10.24 9.29 8.86 9.08 8.45 8.69 8.40 9.22 13.98% Bid Yields at Constant Maturities, 2-yr. 3-y. 5-yr. Bills, Notes, and Bonds' 10-yr. 30-yr. 30 CO MARKET BID YIELDS ON TREASURY SECURITIE':, VAP 31, 1983 Table AY-1. Period Treasury 20-yr. bonds 1/ - New Aa corporate bonds 11 Average Yields of Long-Term Treasury, Corporate, and Municipal Bonds New Aa municipal bonds 3/ Treasury 20-yr. bonds 1/ New Aa corporate bonds 2/ New Aa municipal bonds 3/ Treasury 20-yr. bonds 1/ New Aa corporate bonds 2/ MONTHLY SERIES--AVERAGES OF DAILY OR WEEKLY SERIES 1978 an,. 3b.. ar.. jr.. ay., jne. jiy. jg.. jpt. :t.. 3V. 31 AVERAGE YIELDS OF LONG-TERM BONDS . ;c. an., ib.. ir.. Br.. 3y.. jne. jly. jg.. ipt. :t.. 3V.. ac. an. ;b.. ir. )r.. 3y.. jne. Jly. jg.. ipt. :t.. 6.01% New Aa municipal bonds 3/ Treasury New Aa 20-yr. bonds 1/ corporate bonds 2/ New Aa municipal bonds 3/ 32 AVERAGE YIELDS OF LONG-TERM BONDS 33 FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Government Corporations and Other Business-Type Activities Treasury Department Circular No. 966, Revised, dated December 20, 1972, volume I, part 2, chapter 4100 of the Treasury Fiscal Requirements Manual fransmittal letter No. 320) require Government agencies to submit businessstatements and related information to the Department of the fpe financial The easury for use in compiling financial reports of the U.S. Government. ircular was originally issued in 1956 pursuant to the authority of section which of 66b) 1950 {31 U.S.C. 14 of the Budget and Accounting Procedures Act jqui res the Secretary of the Treasury to prepare reports on the financial aerations of the U.S. Government. The Statements of Income and Retained Earnings presented in the following table reflect the position of business-type governmental activities as of These statements are entirely the representation of the September 30. 1982. Transfer appropriations, disclosed previously in memorandum reporting agency. columns, have been included with fund totals of the agency administering the Blank columns indicate that a statement was program--the "spending" agency. amounts are reported i Al 1 expected but not recei ved by the Treasury . dol lars. Statements of Income and Retained Earnings are required of all Government )rporations speci f ical 1y subject to the Government Corporation Control Act amended (31 U.S.C. 846. 856); any wholly owned and mixed-ownership ; jrporations subsequently brought under the provisions of the act; all :t1vities operating as revolving funds; and any other activities or agencies services, or functions are largely self-liquidating or lose operations, r-imari ly of a revenue-producing nature or whose activities result in the ^Cumulation of substantial inventories, investments, and other recoverable publ id ssets. are Statements of Fi nancial Condition, requi red for all activities Statements of Income and shed annual ly and appear in table GA-I-1. required for all business -type activities, are also Retained Earnings, Direct loans held by agencies published annually and appear in table GA-I-2. and loans guaranteed or insured by agencies are publ ished semiannual ly and Tables detailing the status of accounts and loans appear in table GA-II-1. receivable due from the public, required for all activities, are published annua lly and appear separately in the "Cash Management /Debt Col lection" section of the Treasury Bulletin. , 1 34 FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I.—Government Corporations and Other Business-Type Activities Table GA-l-2.— Statements of Income and Retained Earnings, Oct. TOTAL ACCOUNT LegisUtive branch Govemment 1, 1981, through Sept. 30, 1982 Printing Office— revolvinj fund Funds ippniixuted tlie President to Aw3l3Cliun tiousing IntematnnjI security fund assistance— liquidation of foreign military sales INCOME AND EXPENSE Income: $54,209,411,590 Sales of goods 21,064,240,028 Sales of services Insurance and guarantee premiums Interest 4,699,134,884 50,507,280,071 income Other income 31,570,063,439 162,050,130,012 Totallncome ExD6nS6' 66,182,222,846 Cost of goods sold Interest expense: Treasury borrowings 17,811,002,279 1,010,079,196 Federal securities 10,616,971,770 Other Other expenses: Administrative 1,856,292,358 Depreciation 2,347,482,317 63,001,444,468 Other operating expenses 5,602,672,780 Other 168,428,168,015 Total expense Income or expense ( - ) before extraordinary items -6,378,038,003 Extraordinary income and expense (-): Gain or loss (-) on disposition of assets Total extraordinary income and expense (-) Net income or expense (-) before distribution ANALYSIS OF CHANGE EARNINGS Opening balance Net income or expense {-) Adjustments 6,531,291 -4,216,410,508 Other for prior periods IN -4,209,879,218 -10,587,917,221 RETAINED -202,540,832,373 -10,587,917,221 1 1,359,958,982 Distribution of income: Dividends Other Closing balance -185,834,369 -16,271,586,351 -218,226,211,332 $54,755,346 35 FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I.—Government Corporations and Other Business-Type Activities Table GA-l-2.— Statements of Income and Retained Earnings, Oct. ACCOUNT Intenutwiul securrty Agency In Intenutioiul Agency assistance—otiier Devefopment— Alfiance Development— Devetopment— Oevekipnient- Iwiising development loan fund devetopment loan fund and liquidation account guaianty icome: Sales of goods Sales of services Insurance and guarantee premiums $25,425,816 income Totallncome xpense: Cost of goods sold Interest expense: Treasury borrowings Federal securities Other Other expenses: Administrative Depreciation Other operating expenses Other Total expense icome or expense (-) before extraordinary items xtraordinary income and expense (-): Gain or loss (-) on disposition of assets Other Total extraordinary let income and expense {-) income or expense (-) before distribution ANALYSIS OF CHANGE IN RETAINED EARNINGS Ipening balance let income or expense (-) idjustments for prior periods )istribution of income: Dividends Other ;iosing balance , 1982—Continued assistance— guaranty NCOME AND EXPENSE Interest 1981, through Sept. 30, InlenutkHUl security reserve lund Other income 1, lunrJs for Progress loan fund for Intematioiul Agency for International Agency lor International otiiei credit pgrams 36 FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I.— Government Corporations and Other Business-Type Activities Table GA-l-2.— Statements of Income and Retained Earnings, Oct. ACCOUNT INCOME AND EXPENSE Incoine: Sales of goods Agency for International Agency fof International 1, 1M1, through Sept. Agency fw International Agency 30, tot International DevekJpriei''— Devetopment—common Developinent— loreign Dcvetopmenl— kans of acQUlsition of property defense, economic, and currency loans, private predecessor agencies in revolving fund triangular trade loans enterprise liQuidation 1982—Continued Agency lor International Development—ottier loans Overseas Private Investment Corporation FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I.— Government Corporations and Other Business-Type Activities Table GA-l-2.— Statements of Income and Retained Earnings, Oct. ACCOUNT IntK-Amerkan 1, 1981, through Sept. 30, 1982— Continued 37 38 FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I.—Government Corporations and Other Business-Type Activities Table GA-l-2.— Statements of Income and Retained Earnings, Oct. ACCOUNT Farmers Home 1, 1981, through Sept. 30, 1982—Continued FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I.— Government Corporations and Other Business-Type Activities Table GA-l-2.— Statements of Income and Retained Earnings, Oct. ACCOUNT Agricultural Marketing 1, 1981, through Sept. 30, 1982—Continued 39 40 FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I.— Government Corporations and Other Business-Type Activities Table GA-t-2.— Statements of Income and Retained Earnings, Oct. ACCOUNT Economic Development 1, 1981, through Sept. 30, 1982—Continued 41 FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I.— Government Corporations and Other Business-Type Activities Table GA-l-2.— Statements of Income and Retained Earnings, Oct. Deparlmnt ACCOUNT of Air Force Defense defense 1, Ait 1981, through Sept. 30, Fwce stock fund Air Force industrial fund 1982—Continued Air Force cadet fund production guarantees Air Force surctiarge collectKKis, sales of commissary stores COME AND EXPENSE otre: $49,274,414,254 Sales of goods $11,212,706,316 $3,154,933,776 2,455,883,557 12,369,148,832 Sales of services Insurance and guarantee premiums Interest income income 316,295,477 $4,318 income 61,959,858,563 4,318 Cost of goods sold 55,901,598,067 Otfier Total 11,212,706,316 5,610,817,333 10,457,177,364 5,611,322,355 Knse: Interest expense: Treasury borrowings Federal securities Ottier Ottter expenses: 3,013,584 Administrative 25,691,105 Depreciation Otfier operating 1,778,775,138 expenses -177,771,108 Otfier 57,531,306,787 Total expense ;ome or expense (-) before extraordinary items traordinary Gain or loss (-) on disposition of assets Total extraordinary income or income and expense (-) expense (-) before distribution NALYSIS OF CHANGE EARNINGS ening balance t -393 1,960,824 Other t 4,428,551,776 income and expense (-): income or expense (-) justments for prior periods itribution of income: Dividends Otfier )sing balance IN RETAINED 1,960,431 4,430,512,207 - $32,725,152 $79,969,236 32,725,152 79,969,236 42 FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I.— Government Corporations and Other Business-Type Activities Table GA-l-2.— Statements of Income and Retained Earnings, Oct. ACCOUNT Army defense Army conventional production guarantees ammunition fund 1981, through Sept. 30, 1, Army stocli fund Army industrial fund 1982—Continued Army surctiarge collections, sales of Navy defense production guarantees commissary stores INCOME AND EXPENSE Incoine: $49,440,117 Sales of goods $5,806,987,753 $1,102,447,240 1,724,299,415 Sales of services Insurance and guarantee premiums Interest income Other income $62,340,536 Total income 49,440,117 5,806,987,753 2,826,746,655 37,173,063 5,718,619,000 2,814,194,382 62,340,536 Expense; Cost of goods sold Interest expense: Treasury borrowings Federal securities Other Other expenses: Administrative Depreciation 4,271,606 Other operating expenses Total expense Income or 88,682,750 -351,284,548 Other expense (-) before extraordinary items 58,144,532 41,444,669 5,456,017,202 2,814,194,382 58,144,532 7,995,448 350.970,551 12,552,273 4,196,004 7,995,448 350,970,551 12,552,273 4,196,004 - -1,097,078,757 r54,705,275 62,681,654 7,995,448 350,970,551 12,552,273 4,196,004 4,003,881 15,220,571 71,261,429 82,098,229 Extraordinary income and expense (-): Gain or loss (-) on disposition of assets Other Total extraordinary income and expense (-) Net income or expense (-) before distribution ANALYSIS OF CHANGE EARNINGS Opening balance IN RETAINED $2,213,194 Net income or expense (-) Adjustments for prior periods $6,595,867 Distribution of income: Dividends Other Closing balance 2,213,194 7,995,448 -746,108,206 6,595,867 43 FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I.— Government Corporations and Other Business-Type Activities Table GA-l-2.— Statements of Income and Retained Earnings, Oct. ACCOUNT Navy Navy stock fund industrial fund 1, 1981, through Sept. SO, Navy sutcfiarge U.S. Naval colfections, safes of midstiipmen's store Academy 1982—Continued U.S Naval Academy Marine Corps sM fund faundry service commissary stores COME AND EXPENSE ome: $4,447,541,003 Sales of goods $6,127,081,982 $42,612,335 - - - - - - - 14,986,464 income 11,122,087,185 6,142,068,446 42,612,335 Cost of goods sold 11,339,201,992 3,662,209,057 47,579,966 _ _ - _ _ _ _ _ - 139,323,176 11,339,201,992 3,801,532,233 -217,114,807 2,340,536,213 -217,114,807 2,340,536,213 Insurance and guarantee premiums Interest income Other income Total $10,729,251 $1,716,260 $343,100,388 10,867,700 1,716,260 407,197,041 8,112,873 884,277 343,100,388 6,674,546,182 Sales of services 138,450 64,096,653 lense: Interest expense: Treasury borrowings Federal securities Other _ Other expenses: Administrative Depreciation Other operating expenses - Other Total expense jmeorexpense (-) before extraordinary items raordinary income and expense {-): Gain or loss (-) on disposition of assets Other Total extraordinary income and expense (-) income or expense (-) before distribution lALYSIS OF CHANGE IN RETAINED EARNINGS ining balance 348,460,448 4,121,784,364 -217,114,807 2,340,536,213 Dividends _ _ _ Other - - _ 131,345,641 6,462,320,577 34,685,671 income or expense (-) ustments for prior periods Iribution of income: iing balance -100,( 44 FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I.— Government Corporations and Other Business-Type Activities Table GA-l-2.— Statements of Income and Retained Earnings, Oct. ACCOUNT 1, 1982—Continued 1981, through Sept. 30, Marine Coqis industrial Marine Corps surcharge Defense homeownerj fund collections, sales ol assistance fund Defense stocli Defense industrial fund fund Corps of Engineers revolving fund commissary stores INCOME AND EXPENSE Income: Sales of goods Sales of services $64,282,392 $7,323,845 $1,755,611 $16,174,244,610 $727,101,001 12,530,519 _ _ - 22,381 $1,501,866,77S 1,535,872,602 Insurance and guarantee premiums Interest income 28,028,845 Other income income 76,812,911 7,323,845 1,755,611 16,202,273,455 727,123,382 Cost of goods sold 69,480,918 6,308,973 1,762,202 14,280,530,039 27,318,637 617,817,351 719,005,328 Total Expense: 1,476,222,4 Interest expense: Treasury borrowings Federal securities Other Other expenses: 2,773,446 Administrative Depreciation Other operating expenses Other Total Income or expense expense (-) before extraordinary items 96,578,725 207,662 69,480,918 6,308,973 4,535,648 14,994,926,114 746,531,627 7,331,994 1,014,872 -2,780,037 1,207,347,340 -19,408,245 Extraordinary income and expense (-): Gain or loss (-) on disposition of assets 1,960,478 Other Total extraordinary income and expense (-) 1,960,478 Net income or expense (-) before distribution ANALYSIS OF CHANGE EARNINGS IN 7,331,994 RETAINED Opening balance 4,884,209 Net income or expense (-) Adjustments for prior periods Distribution of income: Dividends Other Closing balance 7,331,994 , 1,014,872 -2,780,037 1,207,347,340 -17,447,767 1,509,515,471 45 FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I.— Government Corporations and Other Business-Type Activities Table GA-l-2.— Statements of Income and Retained Earnings, Oct. ACCOUNT Soldiers' Home and Airmen's revolving fund Department of Eduution 1, 1981, through Sept. 30, College housing loans 1982— Continued Student loan insurance Higher educatkHi fund facilities loan and insurance fund AND EXPENSE :OME ne: $410,374 Sales of goods Sales of services Insurance and guarantee premiums Interest $3,839,775 206,238,572 income 296,844,687 Other income income 410,374 Cost of goods sold 400,113 Total nse: Interest expense: Treasury borrowings Federal securities Other Other expenses: Administrative Depreciation Other operating expenses Other 400,113 Total expense Tie or expense (-) before extraordinary items 10,261 income and expense (-): (ordinary Gain or loss (-) on disposition of assets 346 Other Total extraordinary ncome or expense (-) before distribution alysis of :arnings ling change balance ncome or stments 346 income and expense (-) expense (-) for prior periods ibution of income: Dividends Other ng balance in 10,607 retained , Depaitment of Inag 46 FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I.— Government Corporations and Other Business-Type Activities Table GA-l-2.— Statements of Income and Retained Earnings, Oct. Alaska ACCOUNT Poww Adininistralion INCOME AND EXPENSE Income: $4,275,800 Sales of goods 22,459 Sales of services Insurance and guarantee premiums Interest income income Otfier income Total Expense: Cost of goods sold Interest expense: Treasury borrowings Federal securities Other Other expenses: Administrative Depreciation Other operating expenses Other Total expense Income or expense (-) before extraordinary items Extraordinary income and expense (-): Gain or loss (-) on disposition of assets Other Total extraordinary income and expense (-) Net income or expense {-) before distribution ANALYSIS OF CHANGE EARNINGS Opening balance Net income or expense (-) Adjustments for prior periods Distribution of income: Dividends Other Closing balance IN RETAINED , 1, 1981, through Sept. 30, 1982—Continued Bonneville Power Southeastern Power Soultiwestem Power Western Area Power Administration Administration Administrainn Administration FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I.—Government Corporations and Other Business-Type Activities Table GA-l-2.— Statements of Income and Retained Earnings, Oct. ACCOUNT 1, 1981, through Sept. 30, 1982—Continued 47 48 FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I.— Government Corporations and Other Business-Type Activities Table GA-l-2.— Statements of Income and Retained Earnings, Oct. ACCOUNT Health Maintenance 1, 1981, through Sept. 30, 1982— Continued 49 FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I.— Government Corporations and Other Business-Type Activities Table GA-t-2.— Statements of Income and Retained Earnings, Oct. ACCOUNT Nonprofit siwnsor Communily program assistance operations fund )nie: Sales of goods Sales of services Insurance and guarantee premiutns income $45,109,589 93,619 Other income 45,203,208 income Total ense: Cost of goods sold Interest expense: Treasury borrowings 9,917,121 Federal securities Other Other expenses: Administrative Depreciation Other operating expenses 162,080 61,244,516 Other Total expense jme or expense (-) before extraordinary items raordinary income and expense (-): Gain or loss (-) on disposition of assets Other Total extraordinary income and expense (-) income or expense (-) before distribution lALYSIS OF CHANGE EARNINGS ining balance income or expense (-) ustments for prior periods tribution of income: Dividends Other sing balance IN RETAINED 1981, through Sept. 30, low-rent public housing COME AND EXPENSE Interest 1, disposal 1982—Continued Rental housing Liquidating programs Housing p(ograms- assistance fund revolving fund ottier fundst 50 FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I.— Government Corporations and Other Business-Type Activities Tabie GA-l-2.— Statements of Income and Retained Earnings, Oct. ACCOUNT 1, 1981, through Sept. 30, Government National Government National Government National Government National Government National Mortgage Association- Mortgage Association- Mortgage Association- Mortgage Association- Mortgage Association— speaal assistance emergency mortgage management ard guarantees of parlicipatwi sales lund fuiKtiwis purctiase assistance liquidating tjii-''ons mortgage-tHciied securities INCOME AND EXPENSE Income: Sales of goods Sales of services insurance and guarantee premiums $212,084,382 $67,989,495 Other income 128,761,405 2,657,777 Totalincome 340,845,/87 Interest income Expense: Cost of goods sold Interest expense; 797,518,042 Treasury borrowings 16,675,110 Federal securities Other Other expenses: Administrative Depreciation 1,020,068,457 Other operating expenses 882,326 Other 1,835,143,934 Total expense Income or expense ( - ) before extraordinary items -1,494,298, 147 Extraordinary income and expense (-): Gain or loss (-) on disposition of assets Other Total extraordinary income and expense (-) Net income or expense (-) before distribution ANALYSIS OF CHANGE EARNINGS IN -1,494,298,147 RETAINED Opening balance -3,382,267,083 Net income or expense (-) -1,494,298,147 Adjustments for prior periods 2,085,000 Distribution of income: Dividends Other Closing balance 1982—Continued -4,874,480,230 Rehabilitation loan fun FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I.— Government Corporations and Other Business-Type Activities Table GA-l-2.— Statements of Income and Retained Earnings, Oct. ACCOUKT Udun renewal 1, 1981, through Sept. 30, 1982—Continued 51 52 FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I.—Government Corporations and Other Business-Type Activities Tabie GA-l-2.— Statements of income and Retained Earnings, Oct. ACCOUKT Bureau of 1, 1981, through Sept. 30, 1982—Continued 53 FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I.—Government Corporations and Other Business-Type Activities Table GA-l-2.— Statements of income and Retained Earnings, Oct. ACCOUNT Department Office of the of Justiu Secfetaty— wwtung caiiital 1, 1981, througti Sept. 30, 1982—Continued Departinent of Justice— Federal Prison Federal Prison System, worlOiig capital fund Industiies, Inc. commissary funds Operation Sting fund ICOME AND EXPENSE come: Sales of goods $2,187,883 $163,812,255 - Sales of services 45,305,372 86,066,770 $86,066,770 31,198 1,629,151 47,524,453 251,508,176 37,990,861 $147,571,250 $16,164,453 1,577,327 51,823 86,066,770 149,148,578 16,216,276 215,265,608 85,176,815 116,974,833 13,113,960 -130,630 -130,630 123,876,202 10,060 $76,552 Insurance and guarantee premiums Interest income Other income Totalincome flense: Cost of goods sold Interest expense: Treasury borrowings Federal securities Otiier Other expenses: Administrative 178,663 Depreciation Other operating expenses 6,803,921 Other 2,612,883 Total expense come or expense (-) before extraordinary items ;traordinary income and expense (-): Gain or loss (-) on disposition of assets Other Total extraordinary it income and expense (-) income or expense {-) before distribution NALYSIS OF CHANGE IN RETAINED EARNINGS )ening balance it income or expense (-) Ijustments for prior periods stribution of income: Dividends Other osing balance 2,334,180 120,070,175 76,552 54 FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I.— Government Corporations and Other Business-Type Activities Table GA-l-2.— Statements of Income and Retained Earnings, Oct. ACCOUNT Depirtment of Labor INCOME AND EXPENSE Incortie; $50,514,132 Sales of goods Sales of services Insurance and guarantee premiums Interest income , Other income Income Total Expense: Cost of goods sold Interest expense: Treasury twrrowings Federal securities Other Other expenses: Administrative Depreciation Other operating expenses , Other Total expense Income or expense (-) before extraordinary items Extraordinary income and expense (-): Gain or loss (-) on disposition of assets Other Total extraordinary income and expense (-) Net Income or expense (-) tiefore distribution ANALYSIS OF CHANGE EARNINGS Opening balance Net income or expense (-) Adjustments for prior periods Distribution of income: Dividends Other Closing balance IN RETAINED 1, 1981, through Sept. 30, Lato- Pension Benefit Department Guaranty Coiparation worlung capital fund of Departimirt sf State 1982—Continued Department of State- working capital fund Department of Transportatjon 55 FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I.—Government Corporations and Other Business-Type Activities Table GA-l-2.— Statements of Income and Retained Earnings, Oct. ACCOUKT OffiaoftiK Coast Guaid supply fund 1, 1981, through Sept. 30, Coast Guard yard fund Federal collections, sales of Administration— Federal capital fund commissary stores aviation insurance fund icome: Sales of goods 1,308,694 $32,714,814 $47,521,161 Sales of services Insurance and guarantee premiums Interest income Other income 155,395 income 47,521,161 89,308,694 32,870,208 Cost of goods sold 10,420,098 87,396,567 23,452,773 Total «pense: Interest expense: Treasury borrowings federal securities Other Other expenses: Administrative , Depreciation Other operating expenses Other Total expense 1,851,577 4,017,198 727,295 244,140 30,673,806 4,940,280 3,848,386 5,732 47,521,161 icome or expense (-) before extraordinary items 87,396,567 32,660,123 1,912,127 210,086 rtraordlnary income and expense (-): Gain or loss (-) on disposition of assets Other Total extraordinary et income and expense (-) income or expense (-) before distribution ANALYSIS OF CHANGE EARNINGS pening balance et income or expense (-) djustments for prior periods Istrlbution of Income: Dividends Other losing balance IN RETAINED Aviatm Coast Guard surctiarge Secretary—^wiling ACOUl AND EXPENSE - Coast Guard cadet fund 1982—Continued 56 FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I.—Government Corporations and Other Business-Type Activities Table GA-l-2.— Statements of Income and Retained Earnings, Oct. ACCOUNT Fednal Railroad 1, 1981, through Sept. 30, 1982—Continued FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I.— Government Corporations and Other Business-Type Activities Table GA-l-2.— Statements of Income and Retained Earnings, Oct. ACCOUNT Dcjurtnwntodhe 1, 1981, through Sept. 30, 1982—Continued 57 58 FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I.—Government Corporations and Other Business-Type Activities Table GA-l-2.— Statements of income and Retained Earnings, Oct. ACCOUNT Bureau of Engraving 1, 1981, tlirough Sept. 30, 1982—Continued 59 FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I.—Government Corporations and Other Business-Type Activities Table GA-l-2.— Statements of Income and Retained Earnings, Oct. ACCOUKT L(un guaranty revolving Direct loan revolving Canteen service Service-disabled Veterans reopened lund lund revolving veterans insurance fund insurance fund $655,375,109 8,209,472 Insurance and guarantee premiums Interest 287,229,827 260,295,114 income 56,502,931 Other income income Total inse: Cost of goods sold Interest expense: Treasury borrowings Federal securities Other Other expenses: Administrative Depreciation Other operating expenses Other Total expense ime or expense (-) before extraordinary items aordinary income and expense {-): Gain or loss (-) on disposition of assets Other Total extraordinary income and expense (-) income or expense (-) before distribution lALYSIS OF CHANGE ARNINGS ning balance income or expense (-) jstments for prior periods ribution of income: Dividends Other ling balance IN RETAINED 1982—Continued AdministntKxi me: Sales of services 1981, through Sept. 30, Veterans ;OME AND EXPENSE Sales of goods 1, M 60 FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I.—Government Corporations and Other Business-Type Activities Table GA-l-2.— Statements of Income and Retained Earnings, Oct. ACCOUNT 1, 1981, through Sept. 30, Veteons Administration Vocational rehabilitation Veterans Administration education loan lund revoMng fund special therapeutic and Servicemen's group lite 1982—Continued Supply fund insurance fund rehabilitation activities fund INCOME AND EXPENSE incotne: Sales of goods $30,164 $489,622,537 Sales of services 3,660,177 Insurance and guarantee premiums Interest $167,614,478 income 105,650 Other income income Total $1,842,193 2,273,937 1,842,193 2,304,101 3,397,637 167,720,128 496,680,352 Expense: Cost of goods sold 462,326,146 Interest expense: Treasury borrowings Federal securities Other Other expenses: Administrative 238,816 Depreciation Other operating expenses -313,385 Other Total expense Income or expense (-) before extraordinary items 2,159,787 126,904,831 22,056,194 -32,698 717,603 22,641 127,622,434 484,643,797 -313,385 91 2,155,578 -91 177,012 40,097,694 12,036,555 2,155,578 91 177,012 40,097,694 12,036,555 70,490,846 -74,644 863,845 2,155,578 -91 177,012 40,097,694 12,036,555 64,646,424 -74,734 1,040,857 40,097,694 40,210,180 2,127,( Extraordinary income and expense (-): Gain or loss (-) on disposition of assets Other Total extraordinary income and expense (-) Net income or expense (-) before distribution ANALYSIS OF CHANGE EARNINGS Opening balance Net income or expense (-) Adjustments IN RETAINED 28,173,626 for prior periods Distribution of income: Dividends Other Closing balance -79,9; FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I.— Government Corporations and Other Business-Type Activities Table GA-l-2.— Statements of Income and Retained Earnings, Oct. AXOUNT Veterans special life 1, 1981, through Sept. 30, 1982—Continued 61 62 FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I.— Government Corporations and Other Business-Type Activities Table GA-l-2.— Statements of Income and Retained Earnings, Oct. ACCOUNT Farai Ciedit 1, 1981, through Sept. 30, 1982—Continued 63 FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I.—Government Corporations and Other Business-Type Activities Table GA-l-2.— Statements of Income and Retained Earnings, Oct. ACCOUNT 1, General Services General Services General Services General Services General Services Administration— Administration- Administration— Administration— federal Administration- Administration— William Federal buildings fund supply fund Naliofial Arcliives trust leto)mmunlcatlons fund automatic data linger jewel liearing processing fund plant revolving fund 4C0ME AND EXPENSE come: $1,444,467,950 Sales of goods $2,062,235,796 242,505,387 3,866,590 7,832,513 Insurance and guarantee premiums Interest income Income Ottier 2,066,102,386 Total income (pense: 1,862,654,502 Cost of goods sold Interest expense: Treasury borrowings Federal securities 35,903,290 Other Other expenses: Administrative 136,874,695 Depreciation Other operating expenses 468,221 Other Total expense come or 2,035,900,707 expense (-) before extraordinary items (traordinary income 30,201,679 and expense (-): Gain or loss (-) on disposition of assets 10,887,895 Other Total extraordinary et income and expense (-) income or expense (-) before distribution OF CHANGE EARNINGS iNALYSIS pening balance et income or expense (-) IN 10,887,895 41,089,573 RETAINED r-69,530,734 41,089,573 djustments for prior periods istribution of income: Dividends Other losing balance 1982—Continued General Services fund Sales of services 1981, through Sept. 3C, -10,406,233 -38,847,393 64 FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I.—Government Corporations and Other Business-Type Activities Table GA-l-2.— Statements of Income and Retained Earnings, Oct. ACCOUNT Getiefal Sennces 1, 1981, through Sept. 30, 1982—Continued 65 FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I.— Government Corporations and Other Business-Type Activities Table GA-l-2.— Statements of Income and Retained Earnings, Oct. ACCOUNT Office o( Personnel Management— employees fund life insurance Office of Personnel Management— retired employees health tienefits fund 1, 1981, through Sept. 30, Office of Personnel 1982—Continued 66 FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I.—Government Corporations and Other Business-Type Activities Table GA-l-2.— Statements of Income and Retained Earnings, Oct. ACCOUNT 1, 1981, through Sept. 30, 1982—Continued FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I.— Government Corporations and Other Business-Type Activities Table GA-l-2.— Statements of Income and Retained Earnings, Oct. ACCOUNT Of<.tHi<lget Federal 1, 1981, through Sept. 30, 1982—Continued 67 Dmft^irmiiiiDODTiiiD St^fiGOgftB©! 71 INTERNATIONAL FINANCIAL STATISTICS Table IFS-3 shows U.S. Treasury nonmarketabl e bonds and notes issued to official Institutions and other residents of foreign countries. The tables in this section are designed to provide data reserve assets and liabilities and other statistics related to the U.S. balance of payments and international financial position. on U.S. 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-4 presents a measure of weighted-average changes exchange rates between the U.S. dollar and the currencies of certain other countries. in Table lfS-2 brings together statistics on liabilities to foreign official institutions, and selected liabilities to all other foreigners, which are used in the U.S. balance of payments statistics. Table IFS-1. - U.S. Reserve Assets [In millions of dollars] End of cal endar year or month 72 INTERNATIONAL FINANCIAL STATISTICS Table IFS-2. - Selected U.S. Liabilities to Foreigners [In millions of dollars] C .. ; 73 INTERNATIONAL FINANCIAL STATISTICS Table IFS-4. - Weighted Average of Exchange Rate Changes for the Dollar [Percent change relative to exchange rates as of end-May 1970] Trade-weighted average appreciation {+) or depreciation (-) of the U.S. dollar 1/ vis-a-vjs End of calendar year or month Currencies of OECD countries 2/ -4.9 -9.6 -9.6 -4.6 -1.0 -1.0 -4.1 -9.4 -14.6 1972 1973 1974 1975 1976 1977 1978 1979 1980 -16. -10.9 -10.3 -14.6 -21.5 -18.4 -15.0 -3.4 +8.6 1981 1982p 6.6 +21.3 +58.9 +149.5 3.5 1982-Apr. .. May... June. July.. Aug... Sept. Oct... Nov... Dec... 1983-Jan... Feb... \J Currencies of 46 main trading countries 3/ 10.3 +84.5 +90.5 +100.4 +103.0 + 11.1 +111.' 12.8 14.3 12.4 +127. +132. *5.3 10.9 +131.: +141.: 9.2 11.7 Mar. p. 11.2 12.7 +155. +182. +202.7 Apr.p. +12.5 212.5 Equation two Is used to calculate a trade-weighted average of changes in the foreign exchange cost of dollars: This table presents calculations of weighted average percentage changes in the rates of exchange between the dollar and certain foreign currencies, in order to provide a measure of changes in the dollar's general foreign exchange value broader than a measure provided by any single exchange rate change. Calculations are provided for two sets of countries that account U.S. bilateral trade patterns in for a major share of U.S. foreign trade. 1972 are used as a convenient, readily available proxy for the assignment of relative weights to individual exchange rate changes, although such weights do not provide a full measure of individual currencies' relative Importance in U.S. international transactions because they take no account of factors other than trade. The calculations do not purport to represent a guide to measuring the Impact of exchange rate changes on U.S. international transactions. (E02) dol lars X^/EX Is U.S. exports to country 1, as proportion of total U.S. exports to countries in the set. a all Equation three combines the above export-weighted and import-weighted averages to provide an overall measure of exchange rate change: The equations used are as follows: {E03) Equation one is used to calculate a trade-weighted average of changes In the dollar cost of foreign currencies: E„ = Where: !:(i$/fCi • l^ is the weighted average of percentage changes in the foreign currency cost of afCj/$ is the percent change in the foreign currency 1 cost of dollars; and Exchange rate data used In constructing the Indices reported here differ somewhat from those used in earlier calculations to more accurately reflect end-of-perlod currency values. (EQl) >E(4fCj/$ * X,/tX) E, Where: E = Where: Mj/CM) [(E„ * m/m+x)'(-l): [E^ • x/m+x] m/m+x is U.S. imports as a proportion of its total trade with all countries in and the set : x/m+x is U.S. exports as a proportion of its total trade with all countries in the set. I- is the weighted average of percentage changes in the dollar cost of individual foreign currencies; 2/ Australia, Austria, Belgium-Luxembourg, Canada, Denmark, Finland, France, Germany, Greece, Iceland, Ireland, Italy, Japan, the Netherlands, New Zealand, Norway, Portugal, Spain, Sweden, Switzerland, Turkey, and United A$/fc^ is the percent change in the dollar and cost of foreign currency 1 ~ M^/EM is U.S. imports from country 1, as a proportion of total U.S. imports from all countries in the set. _3/ ; Kingdom. The currencies of 46 IMF member countries which account for approximately 90 percent of U.S. total trade. , 74 CAPITAL MOVEMENTS Background Data relating to capita) movements between the United States and foreign countries have been collected in some form since 1935. Reports are filed with district Federal Reserve banks by banks, bank holding companies, securities brokers and dealers, and nonbanking enterprises in the United States. Statistics on the principal types of data by country or geographical area are then consolidated and are published in the Treasury Bulletin. The reporting forms and instructions 1/ used in the Treasury International Capital (TIC) Reporting System have "Been revised a number of times to meet changing conditions and to increase the usefulness of the published statistics. The most recent, general revision of the report forms became effective with the banking reports as of April 30, 1978, and with the nonbanking reports as of December 31. 1978, Revised forms and instructions are developed with the cooperation of other Government agencies and the Federal Reserve System and in consultations with representatives of banks, securities firms, and nonbanking enterprises. provided of the liabilities of the respondents themselves from their custody liabilities to foreigners; and foreign currency liabilities are only available quarterly. Also, beginning April 1978, the data on liabilities were made more complete by extending to securities brokers and dealers the requirement to report certain of their own liabilities and all of their custody liabilities to foreigners. Section 11 presents the claims on foreigners reported by banks in the United States. Beginning with data reported as of the end of April 1978, a distinction was made between banks' claims held for their own account and claims held for their domestic customers. The former are available in a monthly series whereas the latter data are col lee ted on a quarterly basis only. Also, the distinction In reporting of long-term and short-term components of banks' claims was discontinued. Maturity data began to be collected quarterly on a time remaining to maturity basis as opposed to the historic original maturity classification. Foreign currency claims are also col lected only on a quarterly basi s. Beginning March 1981. this claims coverage was extended to certain Items In the hands of brokers and dealers 1n the United States. Basic Definitions The term "foreigner" as used in the Treasury reports covers all Institutions and Individuals domiciled outside the United States, Including U.S. citizens domiciled abroad, and the foreign branches, subsidiaries, and other affil lates abroad of banks and U.S. business concerns; the central governments, central banks, and 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 geographarea In which the foreigner is domiciled, as shown on the records of reporting institutions. For a 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 In the Treasury statistics as liabilities to foreign banks, whereas the liability of the foreign bank receiving the deposit may be to foreign official institutions or to residents of another country. ical Data pertaining to branches or agencies of foreign official Institutions are reported opposite the country to which the official institution belongs. Data pertaining to international and regional organizations are reported opposite the appropriate international or regional classification except for the Bank for International Settlements which Is included In the classification "Other Europe." Reporting Coverage Reports are required from banks, bank holding companies. International Banking Facilities (IBF's). securities brokers and dealers, and nonbanking enterprises in the United States, including the branches, agencies, subsidiaries, and other affiliates In the United States of foreign banking and nonbanking firms. Entitles that have reportable liabilities, claims, or securities transactions below specified exemption levels are exempt from reporting. Banks and some brokers and dealers file reports monthly covering their dollar liabilities to, and dollar claims on, foreigners in a number of countries. Twice a year, as of June 30 and December 31, they also report the same liabilities and claims items with respect to foreigners in countries not shown separately on the monthly reports. Beginning with reports due as of June 30, 1978, quarterly reports are filed with respect to liabilities and claims denominated in foreign currencies vls -a-vis foreigners. Effective January 31, 1982, the specified exemption level applicable to the monthly and quarterly banking reports was raised from $2 million to $10 million and Is based on the average for the report dates during a 6-month period, including the current report date. There is no separate exemption level for the semiannual reports. Banks, securities brokers and dealers, and in some instances nonbanking enterprises report monthly their transactions in securities with foreigners; the applicable exemption level is $600,000 on the grand total of purchases and on the grand total of sales during the month covered by the report. Quarterly reports are filed by exporters. Importers, industrial and commercial concerns, financial institutions other than banks and brokers, and other nonbanking enterprises if their liabilities to, or claims on, unaffiliated foreigners exceed a specified exemption level on a two quarter-end average basis. Effective March 31, 1982, this exemption level was set at $10 mil ion, up from $2 ml 11 Ion. Nonbanking enterprises also report for each monthend their U.S. dollar-denominated deposit and certificates of deposit claims of $10 million or more on banks abroad. 1 Description of Statistics Section I presents data on liabilities to foreigners reported by banks, brokers, and dealers in the United States. Beginning April 1978, the following major changes were made in the reporting coverage: Amounts due to banks' own foreign offices are reported separately; a previous distinction between short-term and long-term liabilities was eliminated; a separation was puuiii. itKi-Lui ui luieiijtt \,uuii\.i iK^. irie uerrri lurelgn public borrower" encompasses central governments and departments of central governments of foreign countries and of their possessions foreign central banks, stabll Izatlon funds, and exchange authorities; corporations and other agencies of central governments, Including development banks, development Institutions, and other agencies which are majority-owned by the central government or its departments; State, provincial, and local governments of foreign countries and their departments and agencies; and any International or regional organization or subordinate or affil lated agency thereof, created by treaty or convention between sovereign states. ; Section III Includes supplementary statistics on U.S. banks' liabilities and claims on, foreigners. The supplementary data on banks' loans and credits to nonbank foreigners combine selected information from the TIC reports with data from the monthly Federal Reserve 2502 reports submitted for major foreign branches of U.S. banks. Other supplementary data on U.S. banks' dollar liabilities to, and banks' own dollar claims on, countries not regularly reported separately are available semiannually In the May and November Issues of the Treasury Bulletin. to, Section shows the 1 iab1 ities to, IV and claims on, unaffi Hated foreigners by exporters, Importers, industrial and commercial concerns, financial Institutions other than banks and brokers and other nonbanking enterprises In the United States. The data exclude the Intercompany accounts of nonbanking enterprises in the United States with their own branches and subsidiaries abroad or with thei r foreign parent companies. (Such transactions are reported by business enterprises to the Department of Conmerce on Its direct investment forms.) The data also exclude claims held through banks in the United States. Beginning with data reported as of December 31. 1978, there 1s separation of the financial 1 labl lltles and claims of reporting enterprises from thel r commercial Habil Ities and claims and items are collected on a time-remaining basis instead of the prior original maturity 1 , ; basis. Section V contains data on transactions in all types of long-term domestic and foreign securities by foreigners as reported by banks and brokers In the United States (except nonmarketable U.S, Treasury notes, foreign series; and nonmarketable U,S. Treasury bonds and notes, foreign currency series, which are shown in the "International Financial Statistics" section, table IFS-3). 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 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 U. S. residents; but the net figures for transactions of individual countries and areas may Include some transactions between foreigners of different countries. The data published In these sections do not cover all types of reported capital movements between the United States and foreign countries. The principal exclusions are the intercompany capital transactions of nonbanking business enterprises in the United States with their own branches and subsidiaries abroad or with their foreign parent companies, and capital transactions of the U. S. Government. Consol Idated data on all types of international capital transactions are published by the Department of Commerce in Its regular reports on the U.S. balance of payments. — When two series of figures are presented for a single reporting Note. date, changes in reporting coverage are denoted. The first series of figures is coverage to those for the preceding date; the second series is comparable to those shown for the following date. 1/ Copies of the reporting forms and instructions may be obtained from the Office of Data Management, Office of the Assistant Affairs. Department of the Treasury, Washington, D.C. 20220. or from district Federal Reserve banks. Secretary for International CAPITAL Section I. - Liabilities to Foreigners CM-l-1. - Table 75 MOVEMENTS Reported by Banks in the United States Total Liabilities by Type of Holder [In millions of dollars] International regional 2/ Foreign countries and Memoranda liabilities f orei gners reported by IBF's 4/ Total Official institutions 1/ Banks and other foreigners Payable End of cal endar year or month Total Payabl liabili- in ties (1) e Total dollars {2) (3) i n f orei gn currencies l_/ (4) Payabl Payabl in Total e to all Payable e i n f orei gn curren- Payable in Payable in foreign curren- in Payable in foreign curren- 76 CAPITAL hflOVEMENTS Table CM-l-2. - Total Liabilities by Type, Payable Part A — Foreign Countries [In millions of dollars] in Dollars CAPITAL Table CM-l-3. - 77 MOVEMENTS Total Liabilities by Country [Position at end of period in millions of dollars] Cal endar year 198 2 Mar. Europe: Austria 535 4.357 Belgium-Luxembourg Bulgaria Czechoslovakia Denmark Finland France German Democratic Republic. Germany Greece Hungary 116 16 Italy Netherlands Norway Poland Portugal Romani a Spai n Sweden Switzerland Turkey United Kingdom U.S.S.R Yugosl avia Other Europe Total Brazi 1 British West Indies Chile Co 1 ombi a , , Cuba Ecuador Guatemala 12.256 8.535 8,223 74 88 152 7.735 463 5.515 61 74 537 149 7,621 2,475 1.353 122 376 7.340 2.851 1.463 5,752 3,633 1,571 87 355 404 31 91 91 1,514 1.755 16,952 23,098 936 1.549 18.918 526 28,720 68 681 49 375 50 499 6,940 6,527 6.980 2.191 16.442 732 1.219 13,341 460 3.086 6 Mexico Netherlands Antilles Panama Peru Trinidad and Tobago Uruguay Venezuela Other Latin America and Cari bbean 4,569 413 5,521 404 495 254 3,185 1.630 Total Latin America and Caribbean Asia: China: Mainland Taiwan Hong Kong India Indonesia 52 1,662 2,633 422 730 Israel 889 Japan Korea Lebanon Mai aysi 16,390 1,528 138 116 a Pakistan Philippines Singapore Syri Thai 473 919 1,201 a 1 16 and -exporting countries 1/.. Other Asia Oi 1 Total Asia 469 14,476 546 42,661 Africa: Egypt Gha na Liberia Morocco South Africa Zaire Oil-exporting countries 2/.. Other Africa Total Africa Other countries: Austral a All other i Total other countries Total foreign countries International and regional: International European regional Latin American regional Asian regional African regional Middle Eastern regional Total international and regional Grand tota 1 16 10.145 670 371 367 97 ama i ca J 514 752 92.414 , 115 55 335 297 , Latin America and Caribbean: Argentina Bahamas Bermuda 515 2,698 499 456 242 Europe Canada 617 4,271 110 48 91 33 296 57 ,540 647 968 299 58 1 .418 1.382 29.288 297 49.091 p 78 CAPITAL Table CM-l-4. - MOVEMENTS Total Liabilities by Type and Country, as of Mar. 31. 1983, Preliminary [Position in mllHons of dollars] HabtHtles payable Total liabilUles To foreign official institutions and Payable Total unaffiliated foreign banks Payable in foreign Banks' own lia- bilities Custody liabilities Deposits Shortterm U.S. Treasury obligations Other liabilities tn dollars Llabilities to banks' Depo! own foreign Demand offices Liabilities to all other foreigners ? ShortOther term U.S. liabilities 11 Treasury obligations randum Negotiable CD's held for all for- eigners (1) (8) (2) Europe: Austria flelgium-LuKembourg Bulgaria Czechoslovakia Denmark Finland France German Democratic Republic. Germany jreece Hungary 607 2.906 605 2.725 44 30 44 30 765 597 84 597 83 Italy Ne therl ands 4,388 3,974 4.310 Norway Poland Portugal Romania Spain Sweden Switzerland Turkey United Kingdom U.S.S.R rugoslavia Other Europe Total Europe 770 412 6.812 546 6.597 .065 78 1 378 64 408 6.758 541 6.457 3 . 703 .061 77 1 257 363 64 .630 1 . 386 30.652 256 48.578 47,656 1 ,643 1 . 388 30 .941 1 42 491 42 491 6.122 6.106 118.813 116. 81Q Canada 15.703 15.156 Latin America and Caribbean: Argentina Bahamas Bermuda Brazil British West Indies 4,796 49,079 2.268 1.919 27.831 4.646 48.833 2.123 Chi 1 e 1 Colombia Cuba Ecuador Guatemal a Jamaica Mexico Netherlands Antilles Panama Peru Trinidad and Tobago Uruguay Venezuela .070 1.877 1.917 27.469 .068 1 1.873 9 9 549 654 133 8.254 3.440 5.618 912 329 810 8.261 548 653 133 8.108 3.407 5 . 594 911 329 808 8,000 Other Latin America and Caribbean Total Latin America and Caribbean Asia: China: Mainland Taiwan Hong Kong India Indonesia Israel Japan Korea Lebanon Malaysia Pakistan Philippines Singapore Syria Thail and Other Asia Total Asia Africa: Egypt Ghana Liberia Morocco South Africa Zaire Other Africa Total Africa 209 3,532 6.022 526 851 985 17,168 1.419 241 281 237 719 208 3.530 5.697 525 851 983 16.855 1.418 241 6.652 280 213 718 6.617 32 488 13.687 488 13.619 53,049 52.276 497 496 32 31 31 250 250 57 57 284 33 1.731 281 33 __1._7_25 2.863 Other countries: Australia All other Total other countries... Total foreign countries. International and regional: International European regional Latin American regional Asian regional African regional Middle Eastern regional international and regional 3.182 67 502 192 3.182 67 478 192 U 11 20 20^ 3.973 3.949 Total Grand total 320.466 315.715 (15) 79 CAPITAL MOVEhflENTS Section II. - Claims on Foreigners Reported by Banks CM-ll-1. - Table in the United States Total Claims by Type [Position at end of period in millions of dollars] Calendar year 1980 r 1981 June r 1^ Sept.r Deer Mar.r June r Sept.r Type of claim 203,866 235,848 251,125 293,002 325,552 364.205 198,698 231,988 247,001 287,051 319,309 357,390 172,592 20,882 197,953 23,187 211,296 25,259 251,082 31,302 277,803 34,142 316,266 40,035 8,254 41,914 65,084 36,459 11,881 44,141 79,827 38,917 13,866 45,473 88,439 38,259 23,012 51,123 96,647 48,999 29,217 58,574 101,913 53,957 36,941 65,126 115,481 58,683 26,106 885 34,035 35,704 992 35,968 1,378 41,506 763 1,512 41,124 1,426 15,574 9,648 23,765 9,507 25,297 9,415 26,352 8,238 32,563 7,431 32,378 7,320 5,168 4,206 3,860 3,513 4,125 3,876 5,951 4,980 6,244 5,300 6,816 5,895 962 347 248 971 944 921 . . - 63,438 62,207 - - - 1,231 91,849 89,454 2,395 118,092 115,111 2,981 Customer liability on acceptances 22,714 27,458 27,640 29,517 30,463 33,130 Claims with remaining maturity of 1 year or less: On foreign public borrowers On all other unaffiliated foreigners 10,730 12,012 12,697 15,652 17,333 19,976 72,585 80,630 82,642 100,753 117,166 131,909 Claims with remaining maturity of more than 1 year: On foreign public borrowers On all other unaffiliated foreigners 10,152 11,175 12,562 15,650 16,809 20,057 14,041 14,309 14,956 22,380 24,582 28,841 Total claims Payable in dollars Banks' own claims on foreigners... Foreign public borrowers Unaffiliated foreign banks: Deposits Other Own foreign offices All other foreigners Claims of banks' domestic customers Deposits Negotiable and readily transferable instruments Collections and other Payable in foreign currencies Banks' own claims on foreigners... Claims of banks' domestic customers Memoranda Claims reported by ]BF'sU Payable in dollars Payable in foreign currencies ; l_/ ... Establishment of International Banking Facilities (IBF's) permitted beginning December 1981. 384, 1 80 CAPITAL Table CM-ll-2. - MOVEMENTS Total Claims by Country [Position at end of period in mllMons of dollars] Cal endar year 1980 Europe: Austria 268 2.073 Belgium-Luxembourg Bui garia Czeciioslovakia Denmark Finland France German Democratic Republic, Germany Greece Hungary Italy Netherlands Norway Pol and Portugal Romania Spai n Sweden Switzerland Turkey United Kingdom U.S.S.R Yugosi avia Other Europe 57 16 175 526 459 3.026 26 32 183 185 4,412 446 4,547 409 4.643 101 112 103 1.433 369 497 3.739 733 261 644 350 142 1.255 924 1,714 1,505 349 1,638 384 699 4,270 966 4,371 923 707 211 805 369 124 2,016 992 2,011 206 205 192 3.130 4,043 4,171 22 18 72 30 75 343 24 19 331 746 346 174 1.954 1,089 2.274 187 181 184 27.024 415 924 36,464 39,850 416 1.078 232 501 ,024 242 Total Europe 199 2,854 1 65 236 613 340 649 5,254 6.802 193 1 ,332 449 760 5.601 1 ,058 419 709 554 112 2,371 198 1,485 427 747 218 2.061 6,115 1,169 6,737 1,557 488 750 110 2,882 1,721 1,965 537 465 619 963 100 3,355 1,875 1,878 633 54,506 58,448 506 ,333 303 1,420 2,505 479 45.737 842 711 233 255 384 ,285 362 1 ,314 1 822 8,107 401 795 1 201 5,209 58 76 450 897 7.458 284 2,201 380 804 7,340 1,462 595 612 1,013 622 93 3,772 2.654 2,351 638 65,811 449 1,290 376 48,483 Canada Latin America and Caribbean: Argenti na Bahamas Bermuda Brazi 1 British West Indies Chile Colombia Cuba Ecuador 6.075 29.792 6,264 35,450 6,213 39,204 7,861 44,231 9,236 48,928 243 417 525 351 414 11,085 16,366 2.030 1.817 10.750 19,026 10,610 20,128 2,696 1,529 17,529 22,936 3,810 2,080 19,496 24,612 4.620 2,087 178 590 4 1,261 178 44 12,942 848 5.803 940 Guatemala Jamaica Mexico Netiierlands Antilles Panama Peru Trinidad and Tobago Uruguay Venezuel a Other Latin America and Caribbean 1..385 5 4 3 4 1,613 1,934 139 2,099 2,200 164 135 166 400 30,034 30.087 ,273 929 10.856 2,324 51 71 17,614 948 7,025 853 22,860 1,277 7,047 1,287 6,497 875 441 23,766 31,699 5,477 2.895 5 14,430 948 11,255 57.402 1,375 158 171 90 147 11.357 53,629 428 21,819 27,620 5,365 2,627 171 26,016 1.004 7,714 1,585 I 8.904 2,124 173 101 132 120 185 141 195 214 266 207 413 155 582 5,796 5,653 5,723 7,564 8.427 9,517 10.252 243 2.963 2.360 215 2,90 5 70 Total Latin America and Caribbean Asi a: China: Mainland Taiwan Kong iiong India Indonesia Israel Japan Korea 211 301 1,245 24,232 5.927 101 259 453 1,051 1.350 Lebanon Mai aysi a Pakistan Philippines Singapore Syria Thai Oi 1 and -exporti ng countries 1 \_/ Other Asia Total Asia Africa; Egypt Ghana Li berl a Morocco South Africa Zai re Di -exporti ng countries^/ Other Africa Total Africa Other countries; Austral ia All other Total other countries.... Total foreign countries.. International and regional: International European regional Latin American regional... Asi an regional African regional Middle Eastern regional... Total international and regional Grand total 3.450 162 304 I .387 29,380 7,008 106 132 240 1,236 1,599 176 2.916 3.891 183 419 1,161 28,057 6,818 78 128 321 1,581 1,748 129 2,831 4,229 1 162 401 ,650 28,869 7,509 58 207 462 1,917 2.312 112 144 142 2,726 5,598 2.454 6,454 279 2,282 6,817 272 423 1,337 28.264 6,869 58 173 64 2.346 2,739 338 1,952 32,209 7,326 85 223 85 2,666 3.922 322 1,985 390 593 2,223 357 47 536 2,681 444 3.184 424 51.292 50.471 53.944 54,689 62,314 169 15 172 322 99 872 133 927 593 162 43 373 300 ,106 138 977 261 39 611 317 1.203 147 929 355 50 762 328 1,617 127 872 442 321 257 598 126 616 761 808 31 34 912 1,987 343 695 2,116 43,970 1,073 536 32 38 581 36 66 502 315 I 346 ,704 30,333 7.581 69 357 197 2.565 4,023 42 455 3,284 537 401 42 35 883 365 1,680 940 409 1.959 138 95 1,115 995 1,058 1.045 269 5,687 25 50 I ,179 8,737 257 2,380 551 810 8,470 1,732 621 570 959 63 4,102 3.320 2,331 697 70.757 436 1,517 430 CAPITAL Table 81 MOVEMENTS CM-ll-3 - Total Claims on Foreigners by Type and Country Reported by Banks in the United States, as of Dec. 31, 1982 [PosUion at end of period in mlTHons of doMars] CI aims of banks' domestic customers Reporting banks' own claims Memorandum Claims on Total banks' Total Country c a 1 1 cl af ms Belgium-Luxembourg Bulgaria Czechoslovak! a Denmark Finland l^rance Total 56 73 56 73 622 179 576 1,091 7,233 255 2,201 457 808 7,851 1,556 582 559 946 535 990 ?57 551 810 8.470 1,732 *621 570 959 63 57 4.102 3.320 2,331 1,517 430 3,829 3,047 1,833 589 46.146 263 1,425 403 116.630 87,670 '697 70 757 '436 Europe Canada 931 17 Latin America and Caribbean: Argentina Bahamas Bermuda ^raz^^ British West Indies Chile Colombia Cuba Ecuador Guatemala Jamaica 11,243 58 012 '626 24.086 231 31 51651 3 268 ' 5 2,141 'l7I I99 *'=«'co 2 Netherlands Antilles Panama 10 411 ''^•" 9.838 960 2i40? Trinidad and Tobago Uruguay Venezuela Other Latin America and Caribbean 194 708 11.030 2,003 Total Latin America and Caribbean 194,179 Asia: China: Mainland Taixan Hong Kong India Indonesia 236 2,585 7,792 '253 392 2,121 29,313 9,733 59 607 220 2,612 3,7 58 40 691 4 324 Israel Japan Korea Lebanon Malaysia Pakistan Philippines Singapore Syria Thailand Other Asia Total Asia 64,746 Africa: Egypt Ghana 346 33 l-iberia '. . Morocco South Africa Zaire Other Africa Total Africa Total other countries Total foreign countries. International and regional: International European regional Latin American regional Asian regional African regional Middle Eastern regional Total international and regional Grand total 375 387 2,206 94 2,202 6,143 Other countries: Australia All other 1,843 '412 2,255 .. . (3) 259 5,579 2.380 Italy i 5g 76 b'.JU German Democratic Republic. Germany Greece »unsAry Netherlands Norway Poland Portugal Romania Spain Sweden Switzerland Turkey United Kingdom U.S.S.R Yugoslavia Other Europe (2) 1 269 5,687 1 401,884 55 30 28 * 11 123 402,007 10 Total orei gn pub! ic 1 ms (11 Europe: Austria f borrowers and unaf f ated f orei gners 196 4,192 6,160 247 1,002 435 758 6,886 1,300 571 555 943 46 3,535 3.018 1 ,01s 557 26,003 263 1 ,197 310 60,845 On own f orei gn offices cl a 1ms Customer payable in foreign currenc es Mabflity 1 on accept- ances Payable Payable in 82 CAPITAL Section III. - Supplementary Liabilities VOVEMENTS and Claims Data Reported by Banks in the United States - Dollar Claims on Nonbank Foreigners [Position at end of period in mnilons of dollars] Table CM-lll-1. Dollar claims of U.S. offices Total End of calendar year or month dollar claims on nonbank foreigners (1) 197g 1980 1981 1982 r 1982-Feb Mar Apr May r r r r June r July r Aug r Sept r Oct r Nov r Dec 1983-Jan p Feb p U.S. -based banks (21 foreign banks (3) \_/ Dollar claims of U.S. -based banks' major foreign branches 2J (4) 116.809 136,912 165,730 186,794 23,824 28,751 43,656 63,873 21,651 28,653 36,645 43.258 71,334 79,508 85,429 79,663 168,020 169,960 170,607 175,947 178,588 180,124 181,273 182.433 183.407 183,675 186,794 188,386 186,667 47,875 49,268 52,019 54,853 57,147 58,740 58.885 59,943 61,392 61,890 63,873 64,659 63,479 37,506 38,830 38,565 40,791 41,571 41,677 41,932 42,298 41,599 41,479 43,258 42,651 43,018 82,639 81,862 80,023 80,303 79,870 79,707 80,456 80.192 80,416 80,306 79,663 81.076 80,170 Beginning December 1981, includes International Banking Facilities (IBF's) established by foreign-based banks. 2/ Federal Reserve Board data. \J U.S. agencies and branches of .. 83 CAPITAL MOVE^flENTS Table CM — III— 2. — in Dollar Liabilities to, and Dollar Claims on, Foreigners Countries and Areas Not Regularly Reported Separately [Position at end of period in mnlions of dollars] Total liabilities 1978 Europe: lyprus [celand Ireland lonaco own claims Total banks' Calendar year Calendar year 1979 1980 1980 Dec p . ler Latin America and Caribbean: iarbados 60 48 105 237 32 36 210 153 22 55 122 139 35 51 137 137 67 n.a. 103 7 6 2 26 36 106 24 22 137 71 34 4 23 168 68 284 2 1 ler ze via :osta Rica iel i !o1 i )ominican Republic :1 Sal vador rench West Indies and French Guiana iuyana iaiti 8 70 18 87 2 1 4 I 229 191 220 242 313 257 355 117 191 331 13 11 10 10 151 6 5 15 243 216 340 275 191 200 233 478 302 531 431 20 36 63 16 22 82 197 20 n.a. 229 401 191 49 15 14 19 101 229 68 85 170 126 100 293 135 108 119 357 183 305 13 15 36 31 66 londuras Nicaragua 'araguay luriname 140 164 83 15 Asia: Afghanistan Bangladesh Brunei 106 48 84 35 105 139 49 53 2 2 9 6 19 52 18 36 36 63 41 74 27 35 18 270 354 5 187 188 354 301 1 23 I 17 n.a 226 330 604 417 203 324 545 37 47 10 17 18 9 9 10 28 144 245 50 189 204 122 137 159 140 4 2 4 5 136 139 187 n.a. 13 15 3 1 24 54 349 1 10 8 ler lurma lordan Kampuchea iacao (formerly Cambodia)... Jepal ^ri Lanka Metnam femen (Aden)..., (emen (Sana) 6 6 1 61 5 6 8 1 5 9 7 10 35 93 48 10 17 25 53 77 31 41 47 26 22 18 21 16 10 14 21 6 8 8 25 32 15 22 47 19 21 53 76 50 20 13 21 32 6 6 50 24 17 6 . 54 161 30 65 35 10 26 89 37 n.a 1 28 50 113 19 3 2 117 137 n.a. 27 4 ler Africa: Angola Burundi Cameroon Ethiopia, including Eritrea 3Ui nea tvory Coast (enya Madagascar Mauritania Mauritius Mozambique ^i ger Rwanda Sudan fanzania Tunisia Jganda Zambia 1 4 56 46 14 7 6 19 30 104 6 14 1 2 2 • * 36 51 35 80 7 2 4 n.a. n.a 8 72 141 13 168 84 n.a. 4 7 4 11 16 11 26 15 25 4 3 4 1 3 8 7 7 12 34 31 6 2 3 23 49 27 32 20 10 4 2 9 22 49 50 25 19 23 43 32 21 26 5 7 71 2 2 2 1 3 1 1 10 9 13 * * 2 * 40 51 53 18 48 70 15 13 51 19 53 29 10 52 24 63 26 25 36 211 26 21 23 12 27 25 40 24 27 31 17 II 39 12 19 17 89 other: «ew Hebrides 'Jew Zealand ^apua New Guinea U.S. Trust Territory of Islands the Pacific Less than $500,000. 17 22 31 13 6 16 15 157 125 177 92 141 85 123 15 14 15 12 II 2 17 5 10 126 33 n.a. 17 Note. --Data represent a partial breakdown of the amounts shown for the corresponding dates for the "Other" geographical categories in the regular monthly series in the Treasury Bulletin. 53 : : 84 CAPITAL MOVEMENTS Section IV. - Liabilities to, and Claims on, Foreigners Reported by Nonbanking Business Enterprises Table CM-iV-1. - Total Liabilities and Claims by Type in the United States [Position at end of period in millions of dollars] Calendar year 1978 1982 1961 1979r 1980r Deer Mar.r June 17,433 22,226 22.480 22,393 20,965 r Sept. Type of liability or claim Total liabilities 14,952 Pay able in dollars Financial Commerc i a Trade payables Advance receipts and other 11 ,523 , 1 Payable in foreign currencies Financial Commerc al Trade payables Advance receipts and other , i Total cl aims , , Payable in dollars Fi nancial Deposits Other Commercial Trade recel vables Advance payments and other : : Payable in foreign currencies Financial Deposits Other Commerci al Trade receivables Advance payments and other : 3,853 21,440 Dec. p CAPITAL Table CM-IV-2. - MOVEMENTS Total Liabilities by Country [Position at end of period in minions of dollarsj Cal endar Country 1978 year 85 e : 86 CAPITAL Table CM-IV-3. - MOVEMENTS Total Liabilities by Type and Country, as of Dec. 31, 1982, Preliminary [Position at end of period tn mllHons of dollars] Financial liabilities Commercial liabilities liabilities Payabl in dollars Cotintry Europe: Austria Bel gi um-Luxembourg Bui garia Czechoslovakia Denmark Finland France German Democratic Republic... Germany Greece Hungary Italy Netherlands Norway Pol and Spai 27 10 17 552 502 50 * 1 1 1 I 1 20 5 5 6 1,237 49 886 635 382 49 422 301 23 3 3 28 702 32 21 II n Sweden Switzerland Turkey United Kingdom U.S.S.R Yugoslavia Other Europe Total Europe 253 48 121 602 27 1 663 40 475 340 504 1,042 103 95 50 118 75 988 1 32 71 2 * 4 4 653 160 93 50 84 72 335 2,517 802 2 34 11 17 16 3,863 16 21 27 Canada Latin America and Caribbean; Argentina Bahamas Bermuda Brazil British Uest Indies Chile Colombia Cuba Ecuador Guatemal a Jamaica Mexico Netherlands Antilles Panama Peru Trinidad and Tobago Uruguay Venezuela Other Latin America and Caribbean. 95 882 112 93 1,023 44 109 77 866 811 56 23 28 16 28 8 992 989 9 9 36 35 16 17 16 17 * 25 22 * 5 3 3 596 203 121 121 183 99 10 161 51 6 184 103 10 2 2 17 15 15 271 94 114 67 114 64 113 149 167 4 4 62 62 57 1 1 Total Latin America and Caribbean Asia: China: Mainland Taiwan Hong Kong India Indonesia Israel Japan Korea Lebanon Mai ays i 174 156 1,555 213 Egypt Ghana Liberia Morocco South Africa Zaire Other Africa Total Africa Other countries: Australia All other Total other countries foreign countries International and regional; International European regional Latin American regional Asian regional African regional Middle Eastern regional Total 1 7 7 527 207 141 10 54 4 4 213 38 38 3 32 1 1 1,642 71 71 4,684 Af ri ca Total 1 S a Pakistan Philippines Singapore Syria Thailand Other Asia Total Asia international and regional Grand total 132 17 2 19 234 4 331 464 19 1 2 Portugal Romania Payable in foreign currencies CAPITAL Table CM-IV-4. - 87 MOVEMENTS Total Claims by Country [Posttlon at end of period In millions of dollars] Cal endar Country 1978 year 1981 a 88 CAPITAL Table CM-IV-5. - MOVEMENTS Total Claims by Type and Country, as of Dec. 31, [Position at end of period 1982 tnilMons of dollars] \n Financial claims Total Total Country cl alms financial claims Denominated In dol 1 ars Denominated in foreign currenci es Commerc cl alms (1) Europe: Austria Belgium-Luxembourg Bui garla Czechoslovakia Denmark Finl and France German Democratic Republic. Germany Greece Hungary Italy Netherlands Norway Poland Portugal Romania Spain Sweden Switzerland Turkey United Kingdom U.S.S.R Yugoslavia Other Europe 15 1 1 13 162 10 9 152 8 5 5 3 13 1 I 45 49 594 22 129 22 124 S 12 45 28 46S 508 128 40 50 13 3 341 47 12 337 364 5 S 13 402 393 65 30 53 23 70 75 66 40 40 40 268 128 413 39 84 M 13 6 I 39 37 47 32 3 3 4.604 3,839 93 62 120 74 Europe Total Canada Latin America and Caribbean; Argentina Bahamas Bermuda Brazi I British West Indies Chile Colombia Cuba Ecuador Guatemal Jamaica Mexico Netherlands Antilles Panama Peru Trinidad and Tobago Uruguay Venezuela Other Latin America and Caribbean. Total Latin America and Caribbean 136 45 3,159 3.137 271 13 11 60 ,608 312 60 2,665 2,656 77 38 169 14 45 .128 37 12 1 104 43 S3 946 48 188 89 27 38 38 5 5 72 69 274 270 9 9 86 48 86 48 3 1 10 1 1 482 346 139 145 98 138 Mainland Taiwan Hong Kong India Indonesia 48 207 174 2 1 18 14 Israel 263 42 183 1,348 269 191 97 Asia: China: 63 174 Japan Korea Lebanon Mai ays 1 3 1 41 183 157 97 23 34 a Pakistan Philippines Singapore Syria Thailand Other Asia 18 107 14 13 240 122 122 8 60 805 Total Asia Africa: £ gy P 103 t Ghana Liberia Morocco South Africa Zaire Other Africa 11 9 9 127 110 Other countries: Australia All other Total other countries foreign countries International and regional: International European regional Latin American regional Asian regional African regional Middle Eastern regional Total International Grand total and regional 2 10 398 Total Africa Total 10 1 29 34 117 93 14 41 7 69 35 26 14 255 89 328 29 765 62 1 a 1 CAPITAL Section [In — Transactions in Long-Term Securities by Foreigners Reported by Banks and Brokers in the United States Table CM-V— 1. — Foreign Purchases and Sales of Long-Term Domestic Securities by Type V. mHHons of dollars; negative figures Indicate net sales by foreigners or net outflow of capital from the United States] Corporate and other securities U.S. Net foreign purchases Calendar year or month a Gov't corporations and federally sponsored a gencies Marketable Treasury bonds and notes Bonds 1/ Stock s Foreign countries InternaOther tional forand reinstitutlons eigners gional Officlal Total (1) 79 89 MOVEMENTS (2) (3) (4) Gross foreign Gross purforeign chases sales (5) (6) Net foreign purchases (7) Gross foreign Gross purforeign chases sales (8) (9) Gross Net foreign foreign Gross foreign purpurforeign pursales chases chases chases Net (10) (11) (12) (13) Gross foreign Gross purforeign chases sales (14) (15) 7 1 90 CAPITAL Table CM-V-3. - Net Foreign Transactions in MOVEMENTS Long-Term Domestic Securities by Type and Country [In millions of dollars; negative figures indicate net sales b/ foreigners or Marketable Treasury U.S. Gov't corporations bonds and notes and Federal agency bonds 1982 1963 198? 1983 Country a net outflow of capital from the United States] Corporate bonds 1962 Corporate stocks 1983 1982 1963 Calendar Oct. Jan. Calendar Oct. Jan. Calendar Oct. Jan. Calendar Oct. Jan. year through through year through through year through through year through through 1982 Har.p Dec. 1982 Har.p Dec. 1982 Mar.p Dec. 1982 Dec. Har.p Europe: Austria Belgium-Luxembourg Bulgaria Czechoslovakia Denmark Finland France German Democratic Republic Germany Greece Hungary Italy Netherlands Norway Poland Portugal Romania Spain Sweden Switzerland Turkey United Kingdom U.S.S.R Yugoslavia Other Eu rope To tal 36 -96 -10 -104 41 * * -779 4 1 - - - - - 61 82 6 182 1 - - 133 -122 - - 410 -15 117 -6 -6 -1 -6 -12 2 5.326 984 2.709 231 -32 12 7 • 6 6 - - - - - 9 5 763 259 381 167 * - - - - * * • - - - - - - 3 2 -1 • 24 32 307 -U 693 -43 - - - - - . * -160 -808 929 -858 -365 -277 -45 64-1 * -1 - 185 1 • - 24 -171 9 -5 -7 4 2 -50 -10 -61 -45 51 - - _ * • • -1 .., ___ -.i * 5 -2 2 -4 165 -2 * -47 -47 -143 -21 303 4 107 -52 -2 1,686 273 333 211 447 2 - 2 - 21 -2 2 * -3 - • • 2 -2 - -8 33 9 -8 -1 -60 -1 20 -10 51 6 - 3 - -101 -8 - • • - 2 * * -10 -8 - - - - • * . * 2 * 10 -49 -40 22 -3 68 -16 -38 -6 199 -12 10 -13 1 * * 68 -529 -100 536 * * » _.. _*_ ._• * -199 -100 3.129 994 1.194 2 2 -4 -32 -3 26 127 4 5 20 68 -4 14 72 4* 440 19 • 19 155 254 199 -305 37 14 1 •_! - 1 • * * 3 • •* Eu rope Canada Latin America and Caribbean: • Argentina Bahamas Bermuda Brazil British West Indies Chile Colombia 24 -90 Japan Korea Lebanon Malaysia Pakistan Philippines Singapore Syria Thailand Oil-exporting countries Other Asia * -27 -27 2 * * 54 15 25 34 28 5 12 * -1 3 2 - - - * - . * • • 2 1 - - - - - * * * 4 -1 -8 37 -5 • 8 9 41 99 -65 -4 4 -7 115 -6 11 6 * • • 6 6 Total Asia 5 2 17 15 • 21 -5 2 - * 2 2 • 41 -1 5 1 -1 3 - -98 -33 -111 * Total •1-1-2-1 14 * • • 11 10 21 1 - * 12-1 --77 • • • * - - * -i * _i -2 -i * - 9 1 -12 11 * * * * - 3 1 ^j is 1 -125 34 -4 14 127 11 19 304 235 .-. ___ __* 1 _ - - 3 -1 1 2 179 160 -21 -3 -6 14 -6 17 84 15 - 1 - - - • • - • 7 • - - - - - - 1 * • 1 • 297 797 -132 272 158 -82 2 1 5 3 1 92 -2 30 30 -83 79 -30 -4-7-14 - - • • • * -2 * » _ * _6 - - - - 4*2 -11 5 * * 169 167 49 -2 - - . 76 59 20 • * 1 1.857 994 -326 -7 -1 . _ - - - - . _ -29 • - - - 7.534 -625 -127 -339 18 192 14 -1 - - - 10.831 1.834 1 7 56_ 115 • • -3 3 256 -186 -1 .3 -1 5 • • * 9 1 . - * 3 1 -2 160 • .3 -1 -1 * 84 -124 • • • • * - * • * * - • -110 -694 -292 -176 368 -242 -123 -2 * * ' * 2 1 4 * * 1 ._. ..* •--i-i* **_ __* ••3 -426 -88 -340 -56 -756 -299 -76 614 102 -306 - * - - - - - * - • * * * • • - - * • * 1 • - - - . - - - - - • * - i -2 ** 3-1 • 401 -3 2 '1 -128 -552 13 8 * 1 * 1 19 340 - -exporting countries 2/ Other Africa 1 •_* .** ••_i_i« -48 - 01 2 * 21 12 ~~~ Africa: Egypt Ghana Liberia Morocco South Africa Zaire - * * U -11 -134 : India Indonesia Israel 23 44 -5 17 * 1 Mainland Taiwan Hong Kong 4 1 - Asia: Ch ina 1 3 • -83 101 Total Latin America and Caribbean 1 * * 6 Venezuela Other Latin America and Caribbean 3 6 • * Peru Trinidad and Tobago Uruguay - 42 Ill Cuba Ecuador Guatemala Jamaica Mexico Netherlands Antilles Panama * 39 60 1 17 4 • - - - . - _ _ -100 - -15 . _ .4 * • .2 • . -J 3 - - 1 1 -\ 1 *_ -1_ ;^ _ . 1 Africa Other countries: Austral la Al other 1 Total other countries.... Total foreign countries.. International and regional: International 627 778 -H 60 1 * -20 -12 83 47 55 - - - - - . . - 4 5 - -15 _ , 1 . \ . _ _ 346 10 162 277 - - - - - -4 2 -1 1 - - - * - * - - -1,452 Europeanregional Latin American regional... Asian regional Africanregtonal Middle Eastern regional... * y - ^ ^ Total International and regional -1.100 799 1.056 -29 60 1 1 -20 -11 85 46 57 Grand total 17.26 7 3.676 4,139 -455 -526 -639 1,606 -196 -39 3.954 1.599 2.650 Less than $500,000. Includes Bahrain, Iran. Iraq. Kuwait. Oman, Qatar. Saudi ZJ Arabia, and the United Arab Emirates (Trucial Includes Algeria, Gabon, Libya, and Nigeria. States). — n ' CM-V-4. - Table Foreign Purchases and Long-Term of Sales Secunties, [In ml 91 MOVEMENTS CAPITAL by Type and Country, C--'" purchases by foreigners P'l'stlc securities Countrv "H^""' . Treas- of U.S. V. "^^ ' . Treas- ' "'1 CofPOrate ,^1, \Z\\' -^-^^^ Total \\\ purbonds J sored chases notes agencies Bonds Stocks '-^ ^^^^ '-^ !^^ Czechoslovakia Bonds Stocks 161 17) If, Ge":an-i;.ic;»;c-iep,;bl-;c ''"4 HI '" .::... . f '^ S^^"^^:;;;;;;;:;'---' [£ '1^1 ^" 3^i "' Hungary ...:.. ' I si l] '•"! "" « ^J 2 |j 24 'H 44 J? 44 ... : • Romania Total bonds sales notes (131 1141 ^ 9 ; i 18^ "B ul 2U ^ 93 ? 1 • 26 3 2 1 6 '°° ''"^ 1.160 ^ 2^ A lii 432 662 d 3 4 35 11 16 '" 1 1 1 1 13 » • . 1 1 . j '" ''"^ «"« "o 15,802 5.06g 1,35; lA 2.9,1 4,759' as' .s 3 29; isi 6 ; lol io 31.427 10.695 2.23? 1.791 8.597 6,227 l.aTT 284 20 145 1,591 1.308 631 ^i ^ d ; „? 3*3 \ 14.229 1.640 1.7 76 11,041 5.198 1.310 3,806 405 20 192 1,889 749 551 3,978 Latin America and Caribbean: Argentina OQ - i 3 i-» 11 > -.-. B^y-y-y-y-y-y----.y.-.^ ^"'"°'" Bonds Stocks (131 ' n] ^°"' (111 - : ''"'"" (101 '' ,i — sored agencies Bonds Stocks Foreign securities "'» 22^ 35,192 : . '' '°*? : : : : ; : : : : : : : J (91 Corporate other . ^-"^ ' '"' ot^er ?: rJi;: S"'t er.n, ,„,^ ""? S'l'l'ii'!'."'^!":;:::::::::; Preliminary •------. '" ' 1983, of U.S. « Financ- ana fed- 161 . nZ;5;;;;:;;;:;;:;;;---- Poland Foreign securities^ m ti! ^. Quarter First Gross sales by foreigners Domestic seciirltles ' narket- , llo During Ions of dollars] ; " ' J'l ,ii i ii i i i jH 6^^ i ?hi'i':?'."^?:.!?:':!f;; ",', n ? >" ^\ h\ ,67 la; : i cSir:::;;;;:;:;;;:;;:;:; "? si \ A \ t ,1 ,-, ,[ : i i » I I l 2 ' a ' ' ' ' ~ - - • ? . . Ecuador Guatemala Jama lea. Mexico I 5 - ..SI!'? -'41. - 1 9 1 : I i - - i 40' J 2 a I A'o ui : A 3? ai' I 23 7 1 22 . - 2 ~- 15 4 . 78 13 18 aa ;?hrr"!l?;;-;m;;;c; '^"""'"" . 12 , 3 5 Latin America """^'•'>»"'" t.i'l 1.137 =^=^=^=^==^====^=^==^====== 56 Asia: China: Mainland fSsL"?"?:;;;:;:::;;:::::; * - '•"? "? 5 _ !•;" '.^^ Indonesia ]Y'l^ il'rlT.: '. ''" '-'Il ! Lebanon '. '. '. '. '. '. '. '. '. 1.624 . . 895 268 3,602 « . '". •'' ' ''" j ; ^ U ^ 38 1,353 l.OU 367 1,122 98 820 4.620 1,791 ,1 1 ! '! " ^^ 3? 2 •! ^5 .j '! ? I 30 *' 1 "f " i ' ?t;?^tU:;::::::;;:;;;:- 160 - 2 37 i : 'i -33 ..- 12- Br--:;;;;;;;;;;;;;;; Thailand '"'" "'" ^°"' •"' Idl^ lAll 15.042 8,201 654 42 "° >« " " 14 1 1.568 404 184 i' "^ », ,\ - * 2 ..43. I i u 134 197 11 85 555 1,S21 1,159 i 4 : ^? ; ^ .j^s 1,6?^ : 20! 55 1? 3.3li 6,636 880 382* 2.062 909 469 3,156 ? •?"'"'** i ;; 306 413 1.938 186 11 6.796 2.850 1.720 1.005 16,371 ; 770 1,263 II is! 1 616 Africa: ^rlcll::::::::::::::::::: South Africa Zaire """ ^°"' - ' ^?r::;;;;:;:;;;: - ""=' !??«;ir:;;:;;;;;;::;;;;: Total '1°, II 26 other countries.... 21 324 89 foreign countries.. 58.635 34.064 J:rCa'n"?e"?!;^ii;;::;;;;; Latin American regional... '-Hi JfMca^n^^Slai:::::::::: MlddleEasternreglonal... "! Total International "•^ 'eg'o"*! ^''"'' ^°^^^ . '" 6.663 1 43 4 79 68 '? ''I 6 ,1 28 1 'it 46 . 153 36 46 261 2.542 17,600 6.603 3,258 ?'| ^ ~ fi«-^" »' : ~ i i 1 s 4 " ::«'!- 474 . . 1 38 " —-~25 " 3 1 ''" ' ' 14 - I 4 2 7 1 69 31 3.569 15.007 9.587 113 55.607 30,982 3,309 '.»'; '.279 ..006 16 25 502 "' '" : i 6 33 5.768 6.937 1.006 20 32 542 59,896 27. 919 4.215 ~ — ]'''-' ^ I ,6 • ~7r 4.353 - : -— ' ,994 1.007 32,058 3.576 7 1 6 ' "" ' * Less than S500.000. - 10 - 1 ' '•°" • 3 : ' International and regtonal: '•"! I 3 'i 47 ' • ' ' - 2,569 I ' > - " I j,-, 3 - . ,» '4 'i * 3 - I ; : . m' 1 ::;:; "I**" ... - 7ti 26 : • '29 1 • : '0 3 - 100 Other countries: Total . i - 'I [ «''-'^* i . 1 Trinidad and Tobago Uruguay ""' Total ^ 4 J 6^ ' 9 BB 488 2 2.551 17.688 9.090 3.260 " ~ 2.590 15.03B 10.129 4.254 - 92 CAPITAL MOVEMENTS Table CM-V-5. - Foreign Purchases and Sales of Long-Term Securities, by Type and Country, During Calendar Year 1982 minions [In ___^__ of dpi Tars] Gross purchases by foreigners Gross sales by foreigners Domestic securities Marketable Bonds Treasof U.S. ury A Gov't federal corp. Financ- and fedIng erally Country Total Dank purbonds chases notes 111 Europe; Austria Belgium-Luxembourg Bulgaria Czechoslovakia Denmark Finland franco German Democratic Republic Germany Greece Hungary Italy Netherlands Norway Poland Portugal Romania Spain Sweden Switzerland Turkey United Kingdom U.S.S.R Yugoslavia Other Europe Total Europe Canada Latin America and Caribbean: Argentina Bahamas Bermuda Brazil British West Indies Chile Colombia Cuba Ecuador Guatemala Jamaica Mexico Netherlands Antilles Panama Peru Trinidad and Tobago Uruguay Venezuela Other Latin America and Caribbean Total Latin America and Caribbean « 131 1.982 - - - . 6.172 207 548 1,477 2 * 16,183 148 • - 145 19 5.432 1,492 3.907 493 • - Pakistan Philippines Singapore Syria Thailand Dtlier Total Asia Asia Africa: Egypt Ghana Liberia Morocco South Africa Zaire Other Africa Total Africa Other countries: Australia All other Total Other countries Total foreign countries.. International and regional: International European regional Latin American regional... Asian regional African regional Middle Eastern regional... Total international and regional Grand total ' Less than $500,000. Bonds Stocks (6) (71 Federal FinancIng Bank Total bonds S sales notes (g| (81 112) Bonds Stocks 1131 (141 - 22 105 35 U 2.078 14 297 809 1.073 104 _ . . • • .--.. --11* .-2-._•_. .-•_, ..-.. ,.1.* 97 35 5 227 54 IB 748 533 71 4.374 - - - - - • 23 100 15 8 16 10 53 465 1.066 28 603 2.581 119 1.304 508 -. 21 ?. ••_ 15 21 4 52 69 67 • 20 906 2.439 1,038 293 253 703 6.091 9.778 386 3.256 236 8.385 4.452 155 1,370 1,525 601 281 6 3 1.857 98 670 13 26 2 87 1 * 1 77 6 2 • 77 32 3 149 10 - 11 95 29 5 1.014 170 159 1,074 6 483 13 82 153 199 274 167 3,144 234 132 71 4,798 1.018 21 738 13 141 16 • 2 20 4 2 31 • • • 30 * 1 5 7 70 5 163 1 5 119 487 1.723 72 62 20 578 24 351 9 35 5 • 7.349 534 - - 3 2 1 * 4.726 2.868 7,808 13.939 1.925 41 S - 213 748 11,377 3 1 13 88 123 100 2,417 25 776 6.820 1.024 316 1.038 10.638 12 - - 3 3 6 • 6 50.519 18.529 2,823 10,937 12,660 1,702 - - 1 - 511 3.867 865 438 13 98,078 40,412 5,122 10,897 1,160 56 38 2,877 88,461 32.804 1,496 12.926 675 5,128 2,382 79 1 7 34 32 1 153 1 77 963 10 350 411 1.418 255 909 18 63 3 .. i, 49.955 18.689 105 48 223 541 4 38 385 1.291 105 977 223 53 454 170 210 1 19 * 67 73 14 16 15 4 1 20 86 - - 4 - 2 70 187 49 132 988 274 175 98 186 37 26 623 2.303 7 * 8 616 199 967 110 17 2 4 1,443 54 5 • 17 4.907 674 305 1 ----**31* *12** -*71* 1287- 32 2 • • • 1 27 6 8 36 433 * • 13 46 14 17 13 199 866 90 • 78 * 150 534 • 55 16 2 11 - 1 - 209 .. 233- 4,799 46 117 693 48 50 1 20 93 14 .__.. -*2** -*3'*'' -*3'* -4823 • 108 391 3,674 4 1 7 46 16 114 334 7 31 190 1 5,964 22,043 18,469 903 18 8 1.071 4 5.508 90 691 37 174 2 252 - 3.289 1.227 - 146 8,198 24,640 16,829 915 3.713 23 124 33 307 (lU securl ties 45 125 • 2,284 630 (101 Foreign 1 28 3 corp. and fedCorporate erally A other sponsored agencies Bonds Stocks 2 232 1 • 1 • 140 873 280 189 383 101 18 1 2 27 - 14 73 7 1 * 3 2 72 5 31 9 I 8 * 62 - 3 13 111 * 11 84 15 97 3 42 25 362 84 *_ *_ 5 61 17 1 64 '_ *_ 2 42 15 5 10.287 2.973 117 841 3,930 2,056 370 9.236 2.633 83 714 3.626 1.751 426 52 • * * 1 --•--139* .-i-* China; Mainland Foreign securities 15) (4) * Asi a: Taiwan Hong Kong Ihdia Indonesia Israel Japan Korea Lebanon Malaysia Corporate 8 other ------1-* -_••--••-_*-• -.-_. --i_* 90 319 673 Marketable Bonds Treasof U.S. ury S Gov't sponsored agencies Bonds Stocks I?) 273 3.477 Domestic securities . •_ .-*_. -•751 -'3 15* ,_i,* 100 • - 7 16 77 1 21 * - 4 14 2 1 4.198 1,939 36 120 898 1,111 94 3,762 1,538 58 106 813 1.136 111 25 14 15 - * 6 3 1 13 - 1,465 15,552 1,140 6,791 3 6 39 45 516 996 5,057 232 1,927 1,631 266 844 5.994 109 91 - * 5 12 * 15.864 264 41 50 5 • * 32 1 6 4 21 3 12 2 • 47 10 155 15 1 - 326 7,322 1 - 4 6 12 6,979 227 92 85 26 235 5,270 5,121 1 - - * * _ , • . ,20 4 858 5,521 576 31 19,127 9,255 - 215 * 16.807 2 55,205 33,993 2.513 2 - * - * * - 92 1 -•2** -•*.. -_*_. --ii1.540 7,761 7,080 2.318 222 j. .•l-*44 2 25.997 32 2 19139 29 46,455 23,162 4•**- - • 21 6 4 24 * - • 25 23 43 71 1 2 - 26 5 155 7 377 367 49 159 745 208 1^ 175,366 78,754 7,819 11,260 41,762 28,602 19.510 * 174 30 1 34 541 599 996 5.694 210 2.408 * 5 2 4 * * 38 1 - 19 3 118 2 * 7 24 1 3 9 15 67 66 48 _ • • • * 2,331 2.601 1,554 2,296 5,150 7,147 796 41 8.441 • • 20 * 2 - * 22 1 48 5 -*114* -'S** _-•--_•** -.*-- 2,808 1 16 3 • 635 560 15 5 18 36 2 66 32 47 734 561 15 6 64 38 51 * 1 226 « • 97 402 94 11 1 60S 312 12 4 40 182 60 10 144 7 1 9 151 5 237 222 61 917 155 7 1 106 553 94 7,169 158,729 60.386 8.246 9.655 37.893 34,051 8.498 21.790 17,340 2.304 13 ; ; 15.889 2,290 247 - - _ _ 74 15 5 1 - 1,346 1,284 - - 10 53 52 - - 1 - - *_ ^ 1 21,176 17,188 256 140 1,298 196.545 95.942 255 130 945 247 10.114 11.517 41.902 29.900 '__ - _ - - 10 -- 20 - - 1.831 208 296 938 - - 8 123 -_ *_ -_ : ;_ 23,394 18,288 2.324 255 55 2,459 _jj_ 7.170 182.123 78.675 10.569 1 ----- 2,295 '__ 1 - -_ 2 208 326 1,070 ^ 255 47 ...-9.911 37.948 36.510 8.511 1 93 FOREIGN CURRENCY POSITIONS ickground Data have been collected since 1974 on the foreign currency positions of and nonbanking fi rms in the United States, and on those of foreign -anches, majority-owned foreign partnerships, and majority-owned foreign Reports cover eight major ibsidiaries of U.S. banks and nonbanking firms. Reporting jreign exchange market currencies and U.S. do! lars held abroad. title of Public Law 93-110. an amendment to been required pursuant to II iS and implementing 1973, le Par Value Modification Act of September 21. Statistics on the positions have been published monthly •easury regulations. ince March 1977 beginning with data for December 1975. inks report forms and instructions used in the col lection of bank data revised effective with reports as of November 1. 1978, for the weekly and ?ports, as of October 31, 1978 (the last business day of the month), for The most recent revision of the nonbank foreign currency le monthly reports. )rms (see below) became effective as of the last business day of September Among the changes on the forms, the Belgian franc was deleted as a )78. !port1ng currency. The »re The monthly tables for all eight major foreign currencies have jleted from publication beginning with the May 1982 Treasury Bulletin. ibles for the Italian lira and French franc were also deleted. been All )mmQn Definitions and Concepts The term "United States" means the States of the United States, the istrict of Columbia, the Commonwealth of Puerto Rico, American Samoa, Midway the Virgin Islands, and Wake Island, The term "foreign" means iland, The term "worl dwide" Is used to )cations other than the "United States. " iscribe the sum of "United States" and "foreign" data. due for report. report. receipt or delivery within 2 business days from the date of the "Short-term" means maturing in 1 year or less from the date of the "Majority-owned foreign partnerships" are those organized under the laws foreign country in which one or more nonbanking concerns or nonprofit a institutions in the United States, directly or indirectly, own more than 50 "Majority-owned foreign subsidiaries" are foreign percent profit interest. corporations in which one or more nonbanking business concerns or nonprofit institutions located in the United States, directly or indirectly, own stock with more than 50 percent of the total combined voting power of all classes of stock entitled to vote, or more than 50 percent of the total value of all classes of stock. of Reporting Threshold The exemption level applicable to banks and banking institutions was $10 million equivalent through January 1982. when it was raised to $100 million. The exemption level applicable to nonbanking business concerns and nonprofit ion equivalent on all nonbank forms from March 1975 institutions was $1 mi through November 1976. It was raised to $2 million equivalent on the monthly reports of positions held in the United States from November 1976 through September 1978. The exemption level was raised to $3 million on foreign subsidiary positions on June 30. 1977, and for positions held in the United The exemption level for nonbanking firms was States on September 30, 1978. raised to $100 million on positions in the United States in January 1982 and on foreign branch and subsidiaries positions in March 1982. 1 1 Firms must report their entire foreign currency position In a specified foreign currency 1f a specified U.S. dollar equivalent value is reached in any exchange contracts bought and sol d. or the iabi ities category of assets In general, exemption levels are applied to the net position in the currency. majority-owned foreign entire fi rm. In reports on their foreign branches partnerships, and majority-owned foreign subsidiaries, U.S. banks and nonbanks liabilities, are required to report the U.S. dol lar-denominated assets, exchange contracts bought and sold, and net positions of those branches, partnerships, and subsidiaries with reportable positions in the specified foreign currencies. , Data for the United States include amounts reported by sole proprl:orsh1ps, partnerships, and corporations in the United States including the ,S. branches and subsidiaries of foreign nonbanking concerns, In the case of lonbanking fi rms positions," and the agencies, branches, and subsidiaries institutions, in )cated in the United States of foreign banks and banking le case of the weekly "bank positions." ' Data for "foreign branches" and "abroad" include amounts reported by the *anches. majority-owned partnerships, and majority-owned subsidiaries of U.S. In general, these data do not reflect the inking and nonbanking concerns. jsltions of foreign parents or foreign parents' subsidiaries located abroad foreign intercompany accounts. The data Include the icept through jbsidiaries of a few foreign-owned U.S. -based corporations. Assets, liabilities, and foreign exchange contract data are reported on basis of time remaining to maturity as of the date of the report, "Spot" means gardless of the original maturity of the instrument involved. le 1 , , Description of Statistics Data col lected on the Treasury foreign currency forms are published in The first section presents a summary the Treasury Bulletin In seven sections. Sections II of worldwide net positions in all of the currencies reported. Section VII through VI each present data on a specified foreign currency. subsidiaries of of the foreign branches and presents the U.S. dollar positions U.S. firms which are required to report in one or more of the specified foreign currencies. 94 FOREIGN CURRENCY POSITIONS — Summary Positions Nonbanking Firms' Positions FCP-l-1. Section Table I. [In millions of foreign currency units, except yen, which 1s in billions] Report U 95 FOREIGN CURRENCY POSITIONS Section II. — Table FCP-ll-1. [In Posi tion at end of month Canadian Dollar Positions - Nonbanking mlTMons Firms' Positions!/ of dollars] 96 FOREIGN CURRENCY POSITIONS Section III. — German Mark - Nonbanking Table FCP-lll-1. Positions Firms' Positions W [In millions of marks] Short-term trade Position at end of month Liquid assets TJ (1) 1982 Shortterm debt 3/ (2) Recei vables 4/ (3) Payables (4) Forward exchange 8/ Other assets kj 5/ (5) Other liabilities 7 / (6) Bought (7) Sold (8) Net Ex- position 9/ change rate 10/ (9) (10) Posi tion held by offices i 97 FOREIGN CURRENCY POSITIONS Section IV. Table FCP-IV-1. - Japanese Yen Positions - Nonbanking Firms' Positions i' [In billions of yen] Forward exchange 8/ Short-term trade Position a t end Liquid assets TJ of month (1) 1982 Shortterm debt 3/ (2) Other Receivables 4/ (3) Payables 5/ (4) assets^/ (5) Other liabilities 7/ (6) Net Bought (7) Sold (8) Ex- position (9) _9^/ change Position held by rate 10/ offices in: (10) 98 FOREIGN CURRENCY POSITIONS Section Table V. - Swiss Franc Positions FCP-V-1. - Nonbanking Firms' Positions!/ [In mnHons of francs] Short-term trade Position Liquid atend assets^/ of month (1) 1982 Shortterm debt 3/ (2) Receivables 4/ (3) Payables 5/ (4) Forward exchange 8/ Other assets (5) 6^/ Other liabilities 7/ (6) ExPosition position 9/ change held by rate 10/ offices in: Net Bought (7) (8) (9) (10) 99 FOREIGN CURRENCY POSITIONS Section Table FCP-VI-1. [In - Sterling Positions - Nonbanking Firms' Positions U VI. mniions of poundsj Forward exchange 8/ Short-term trade ost tfon t f end month Ltquld assets 2/ (1) 982 July. 982 Aug.. 982 Sept. Sept. Sept. 982 Shortterm debt 3/ (Z) Rece1 Vables 4/ (3) Payables 5/ (4) Other assets 6/ ~ (5) Other 1 tabn- Net Bought Sold Ex- position (6) 9_/ change rate 10/ (ties 7/ (7) (8) (9) (10) Position held by offices in: 100 FOREIGN CURRENCY POSITIONS VII. - U.S. - Nonbanking Section Table FCP-VII-1. Dollar Positions Abroad Firms' Foreign Subsidiaries' Positions 1/ [In mi'inons of dollars] Short-term trade Post Hon at end Liquid assets II of month 1982 Sept. Dec . . Shortterm debt y (1) (2) 8,959 r3,908 8,701 Receivables 4/ (3) Payables 5/ Forward exchange 6/ Other assets 6/ Other 1 ( abi Net 1 - Bought Sold (5) (6) (7) (8) Position change held by rate 10/ offices 1 Ex- position (ties TJ (9) _9^/ (10) n: 101 FOREIGN CURRENCY POSITIONS Footnotes to Tables FCP-I through FCP-VII \J Worldwide net positions on the last business day of the calendar quarter of nonbanking business concerns in the United States and thei r foreign branches and majority-owned partnerships and subsidiaries. Excludes recel vables and instal Iment paper which have been sold or discounted before maturity, U. S. parent companies investment in. thei r majorityowned foreign subsidiaries, fixed assets (plant and equi pment and capitalized leases for plant and equipment. ' ) , V Due in year 1 includes Intracompany trade payables. or less; current assets other than 11 quid assets and short-term trade ^/ receivables, and financial assets maturing in more than 1 year from the report date. Includes intracompany accounts, Inventories, prepayments, long-term trade receivables long-term 1 ntra company claims , and stocks, bonds and other securities. Fixed assets (plant and equi pment) and parents' Investment In majority-owned foreign subsidiaries are excluded. Al 1 , , ZJ Foreign branches and majority-owned partnerships and subsidiaries only. _3/ Weekly worldwide net positions of banks and banking institutions in the United States, and their foreign branches and majority-owned foreign subsidiaries. Excludes capital assets and liabilities. _4/ Foreign branches and majority-owned subsidiaries only. SECTIONS II 2J _8/ 2/ V Outstanding amounts of foreign exchange which have been contracted to be received or delivered In the future. Excludes spot exchange. THROUGH VII _9/ \J All financial liabilities other than short-term debt and short-term trade payables; includes long-term trade payables, Intracompany liabilities, accrued expenses, and liabilities maturing In more than 1 year from the report date. Capitalized plant and equipment leases Are excluded, Positions of nonbanklng business concerns in the United States and their foreign branches and majority-owned partnerships and subsidiaries. In section VII positions of foreign branches and majority-owned partnerships and subsidiaries only. Includes unsettled spot foreign exchange purchase contracts, as well as currency, demand, and time deposits, negotiable and other readi ly transferable financial instruments maturing in 1 year or less from the report date, and intracompany claims and loans to other parties repayable on demand. Other loans, accounts receivable, and unaccepted trade drafts are excluded. 1, 3, 5, 11 / In year or less; Includes Intracompany trade receivables. 1 Receivables and Installment paper sold or discounted before maturity are excluded. Due 7 less columns 2, 4, 6, and 8. Banks and banking Institutions In the United subsidiaries. branches and majority-owned branches and majority-owned subsidiaries only. 12/ Excludes capital 14/ Excludes capital States and section In assets. liabilities. Includes both spot and forward exchange contracts. 15 / Columns 3 and 9 less columns 6 and 12. 16/ See footnote 10, _4/ and Canadian dollar and United rates on the report date. Kingdom pound rates are expressed in U.S. dollars per unit of foreign currency, all others in foreign units per U.S. dollar. j_3/ Includes unsettled spot foreign exchange sales contracts, intracompany liabilities, other than short-term trade payables, short-term borrowings due in 1 year or less from the report date, and the current portion of long-term debt. Other loans, accrued expenses, and accounts payable are excluded. Columns 10 / Representative their VII, foreign foreign : 102 EXCHANGE STABILIZATION FUND Table ESF-1. - Balances as of Sept. 30, 1982, and Dec. 31, 1982 [In thousands of dollars] Sept. Assets, liabilities, and capital Sept. 30, 1982 30, 1982, through Dec. 31, 1982 Dec. 31, 1982 .Assets U.S. dollars: Held at Federal Reserve Bank of New York. Held with Treasury: U.S. Government securities Other Special drawing rights Foreign exchange and securities; Zl Gennan marks Japanese yen Pounds sterling Swiss francs Mexican pesos Brazilian cruzeiros Accounts receivable V Total assets 102,556 224,666 4,808,972 (1,617,310) 1,067,000 440,805 1,394,046 1,067,000 5,249,777 1,736,356 1,407,439 (345,079) 248,820 1,391,277 1,656,259 3,011.356 3 3 330,738 5,095 392,242 875,825 107,648 65,420 477,750 875.825 438,386 11,562,807 1,277,602 12,840,409 265,944 128,869 394,813 224,033 (75,478) 60,325 85,508 Liabilities and capital Current liabilities: Accounts payable Exchange translation liability on German marks warehoused 3/ Advance from U.S. Treasury (U.S. drawing on IMF) 4/ 148,555 1,067,000 1,067.000 Total current liabilities 1,556.977 53,391 1,610,368 Other liabilities: Special drawing rights certificates Special drawing rights allocations 4.218.000 5.253,940 400,000 150,768 4.618,000 5,404.708 9,471,940 550,768 5/10.022.708 200.000 333.890 673,443 200.000 1.007.333 673,443 1.207.333 1,277,602 12.840.409 Total other liabilities Capital Capital account Net Income (loss) (see table ESF-2) Total capital Total liabilities and capital 11.562.807 Footnotes at end of table ESF-2. Table ESF-2. - Income and Expense [In thousands of dollars] Current quarter Oct. 1, Income and expense 1982, Year to date Oct. 1, 1982, through through Dec. 31, 1982 Dec. 31, 1982 : Profit (loss) on: Foreign exchange 524,355 Adjustment for change in valuation of SDR holdings and allocations J^/ Interest (net charges) on: Special drawing rights U.S. Government securities Foreign exchange Net income Beginning July 1974, the International Monetary Fund (IMF) adopted a technique for valuing the special drawing rights (SDR's) based on a weighted average of exchange rates for the currencies of related member countries. The U.S. SDR holdings and allocations are valued on this basis beginning July 1974. 2/ Excludes foreign exchange transactions for future and spot delivery. 7/ The exchange translation liability represents the amount of loss the Exchange Stabilization Fund (ESF) would sustain on outstanding $1.1 billion equivalent of German mark swaps with the Federal Reserve if those swaps were liquidated on Dec. 31, 1982. ^t A non-interest-bearing liability to the U.S. Treasury resulting from \l y 524,355 (8,776) (8,7761 (8,081) 29,968 135,977 (8,081) 29,968 135,977 673,443 673,443 the transfer to the ESF of foreign currencies drawn from the IMF by the United States. In addition, the ESF has a contingent liability up to $500 million. In connection with Bank for International Settlements financing for Brazil, which expires Nov. 30. 1983. Note. --Annual balance sheets for fiscal years 1934 through 1940 appear in the 1940 Annual Report of the Secretary of the Treasury and those for Quarterly succeeding years appear in subsequent reports through 1980. balance sheets beginning with Dec. 31. 1938, have been published in the Treasury Bulletin. Data from inception to Sept. 30. 1978. may be found on the statements published in the January 1979 Treasury Bulletin. CONSOLIDATED FINANCIAL STATEMENTS OF THE UNITED STATES GOVERNMENT FISCAL YEAR 1981/ PROTOTYPE THE SECRETARY OF THE TREASURY WASHINGTON February 8, 1983 Statement of the Secretary of the Treasury This Consolidated Financial Statement for the U.S. Government is part of a continuing experimental effort to apply the principles of business accounting to the This Administration is committed business of government. to improving the Federal Government's financial systems, minimizing the burden on taxpayers by controlling Federal spending and managing our resources wisely. The President's budget is the primary tool for planning and controlling the allocation of resources. However, this report provides you, the taxpayer, with general information on the impact of prior spending decisions on the financial condition of your Government. It is intended to enhance public understanding of the relationship between our resources and the claims against those resources. By looking at the build-up or diminution of assets and liabilities over time, it also provides early warning signals to policy decision-makers. Improvements are still needed in agency accounting systems which produce data for this report, but we will continue to work with Executive Branch agencies and with the General Accounting Office to improve Federal financial reporting. Reader reactions and comments on this prototype report are welcome. Donald T. Regan / COMPTROLLER GENERAL OF THE UNITED STATES WASHINGTON, D.C 20548 February 8, 1983 STATEMENT OF THE UNITED STATES GENERAL ACCOUNTING OFFICE This financial report gives an overall picture that is not available elsewhere and can be useful in assessing the financial activities of the Federal Government as a whole. Although this report, like its predecessors, is a prototype, it demonstrates the value of an idea we strongly support the annual publication of formal Consolidated Financial Statements of the United States Government. — Consolidated financial information can provide a wider perspective on the financial condition of the Government than is provided by the budgetary process alone. For exanple, a consolidated report could disclose the magnitude of the Government's pension liabilities, public debt, and estimated losses on guarantee and insurance programs. Enactment of the Federal Managers' Financial Integrity Act of 1982 demonstrates the Government's conmitment to effective systems of internal control. This legislation places the responsibility for effective internal controls with top management by requiring the head of each executive agency to report annually to the President and the Congress on whether the agency's internal control systems comply with standards prescribed by the Comptroller General. A plan of correction must be developed for systems not complying with the standards. This legislation will require management to give more attention to internal controls and should yield significant benefits through improved financial management. The General Accounting Office has begun two major projects to improve financial accounting and reporting by the Federal Government. First, we are developing the internal control standards required by the Federal Managers' Financial Integrity Act. Secondly, we are revising the accounting principles and standards that we are required by law to establish for executive agencies. As with our earlier reports of this nature, we did not audit the accompanying consolidated financial statements for the fiscal year ended September 30, 1981; accordingly, we do not express an opinion on them. Charles A. Bowsher Comptroller General of the United States 109 Introduction During the past year the following changes have been made in the report: the "Financial Statements of the U.S. Government Restated for General Price-Level Changes" schedule and the related narrative have been revised using the Consumer Price Index for All Urban Consumers (CPI-U) as suggested in Financial Accounting Standards Board Statement No. 33, "Financial Reporting and Changing Prices"; and the "Estimated Interest Subsidy on Direct Loans Outstanding" schedule and the related narrative have been deleted. This year's report continues the presentation of alternative financial statement formats. The experimental set of summary-level statements this year's report. current assets is The and first introduced in 1978 have been included again in is the focus on selected significant feature of these alternative statements liabilities of the Government. The excess of current liabilities over current assets defined by identifying the approximate amount of liabilities incurred that will mature over the next year and the current assets presently available to liquidate them. Once again, the accrued pension liability for the military and civil service retirement plans has been included in this report. As annual pension reports are received from other plans covered by Public Law 95-595, their pension liability amounts will also be included in the report. In addition, during the year, agencies for the first time were required to submit to Treasury and the Office of Management and Budget data on the status of accounts and loans receivable due from the public. This data is currently being analyzed by Treasury and will be reported in future year reports. . 110 United States Government Consolidated Statement September 30, 1981 and 1980 of Financial Position as of [In billions] Assets ( — What the Government owns resources that are available pay liabilities or to provide public services in the future) to 1981 Cash and monetary reserves Operating cash in the Treasury $18.7 monetary reserves {Note International 2). . Other cash Receivables (net of allowances) Accounts receivable Accrued taxes receivable [Note Loans receivable (Note 4) Advances and prepayments 3) Inventories (at cost) {Note 5) Goods for sale Work in process Raw materials Materials and supplies for Government use Stockpiled materials and commodities Property and equipment Land {Note (at cost) 6) Buildings, structures, and hardware {Note Equipment {Note 8) Military Construction in facilities {Note 8) progress Other Accumulated depreciation {Note Deferred charges and other assets Total 9) 7). 1980 Ill United States Government Consolidated Statement of Financial Position as of September 30, 1981 and 1980 [In billions] Liabilities ( What the Government owes past that will require — liabilities incurred cash or other resources Accounts payable Unearned revenue Accrued pension, retirement, and disability plans (Note 11) Military personnel employees Social security Veterans compensation Federal employees compensation Loss reserves for guarantee and insurance programs (Note 12) Other liabilities "Total Accumulated Position Accumulated position beginning of period Current period results Current noncash provision for social security (Note 13) Accumulated position end Total the 1981 1980 $97.8 $81.6 22.8 Borrowing from the public (Note 10) Civilian in in the future) of period 112 United States Government Consolidated Statement of Operations for the Years Ended September 30, 1981 and 1980 [In billions] 1981 Revenues Levied under the Government's sovereign power Individual income taxes Corporate income taxes Social insurance taxes and contributions Excise taxes Estate and gift taxes Customs $285.6 duties Miscellaneous Earned through Government business-type operations Sale of goods and services Interest Other Total Expenses by function (see also summary expenses by object and agency) of Administration of justice Agriculture Commerce and housing Community and credit regional development Education, training, employment, and social services Energy General government General purpose fiscal assistance General science, space, and technology Health Income security {Note Military personnel Civilian employees 1 1) Social insurance Veterans compensation Other Interest International affairs National defense Natural resources and environment Transportation Veterans benefits and services Total Current period results 1980 . Summary of expenses by object and agency 1981 Expenses by object Salaries and employee benefits $104.8 Vendor services and supplies Depreciation Pensions, health and life insurance. Casualty insurance and indemnities . . Grants, subsidies, and contributions. Interest Total Expenses by agency Legislative branch Judicial branch Executive branch Office of the President Departments Agriculture Commerce Defense Education Energy Health and Human Services Housing and Urban Development Interior Justice Labor State Transportation Treasury: Interest Other Independent agencies Total 1980 114 United States Government Consolidated Statement Changes in Financial Position the Years Ended September 30, 1981 and 1980 of for [In billions] 1981 Cash and monetary reserves beginning Sources of period of funds: Taxes and other levies Other Government operations Net increase in borrowing Depreciation Provision for accrued pension, retirement, disability and plans Provision for loss reserves for guarantee and insurance programs Increase in liabilities sources Total Uses of funds of funds: Spending on Government programs Purchase of property and equipment Increase in receivables Increase in inventories Increase in deferred charges and other assets. Reduction in provision for loss reserves for guarantee and insurance programs Total uses of funds Cash and monetary reserves end of period 115 Notes to Financial Statements 1. Summary of general accounting policies — These consist of a Principal financial statements. statement of financial position, a statement of operations, and a statement of changes in financial position. Because of their developmental nature, only the most significant changes in format are disclosed be understated and they are under study. Interest rates and loan repayment terms vary considerably for outstanding loans, with rates up to 17.9 percent and terms from as short as 90 days to well over 40 years. Inventories include nondepreciable personal prop- the Notes. clude the accounts of all —The statements insignificant agencies and Principles of consolidation. funds included in the unified budget of the U.S. Government. Agencies such as the U.S. Postal Service and the Federal Financing Bank, classified as offbudget (not included in calculating the budget surplus or deficit), have also been included in the statements because they are wholly owned and are clearly within the scope of Government operations. Government-sponsored enterprises such as the Federal land banks are excluded because they are privately owned. The Federal Reserve System is also excluded. Intragovernmental transactions were eliminated in consolidation. Fiscal year Inventories 5. in —The fiscal ment ends on September Reclassification year of the U.S. Govern30. and adjustment. — For com1980 data are reclassified conform to the financial state- erty and are generally stated at cost. The September 30, 1981, total for inventories comprises $89.8 billion for the Department of Defense and $23.9 other agencies. The amounts as billion for September 30, and $22.3 billion, respecThe inventory accounts do not include the 1980, were $65.8 tively. of billion weapons stockpile since the extent of this inventory is classified information. 6. Land Land the cost paid by the Government. acquired through donation, exchange, bequest, forfeiture, or judicial process is estimated by the General Services Administration at amounts the Government would have paid if purchased at the date of acquisition. Pending study of valuation methods, the Outer Continental Shelf and is The cost valued at of land parability, certain fiscal other offshore land, and the 684 million acres of where appropriate ment presentation public domain land, have not been included. In 1972 a committee of the House of Representatives estimated the value of public domain land (92 percent of the total onshore acreage owned by the Federal Government) to be $29.9 billion. 2. International to for fiscal 1981. monetary reserves This category, as of September 30, 1981, comprises the following items: $11.2 billion in gold, re- corded at $42.22 per ounce, the statutory price at which gold is monetized by the issuance of gold certificates to the Federal Reserve System; $3.9 billion of special drawing rights, an international reserve asset; and $4.6 billion representing the U.S. reserve position in the International N/lonetary Fund. 3. Accrued taxes receivable The September represents $1 7.5 $6.1 billion of 4. 30, 1981, total for taxes receivable billion (net) for 7. Buildings, structures, and facilities This category consists of all real property owned by the Federal Government except land. The total reflects the acquisition cost of buildings and the cost of acquiring or erecting dams, utility systems, monuments, roads, and bridges. The September 30, 1981, total represents $51.3 billion for the Department of Defense and $78.7 billion for other agencies. The amounts as of September 30, 1980, were $50.0 billion and $72.0 billion, respectively. delinquent taxes and accrued corporate taxes. Loans receivable 8. Depreciable personal property Military hardware and equipment are recorded Outstanding loans and allowances for losses have been recorded as reported by the various lending agencies. The allowances for losses are presumed to at and include only depreciable property currently in use or in usable condition. The major components of each category are summarized as acquisition cost follows: 116 assumptions, definitions, and methods of calculation, Each of the major plans is summarized below. Military personnel and civilian employees: Ac- 1980 1981 [In billions] j j ^ hardware Aircraft and related equipment Military Ships and service craft Combat and tactical vehicles Missiles and related equipment . . $82.6 63.8 38.0 . 21 .4 Equipment Department Defense Industrial plant equipment Communications and of lated 34.8 jointly 1 5.9 3^ ^ $189j — $26.3 $24.2 2.9 2.3 47 3J Other 33.9 47.3 Other agencies $81.2 Total 30.2 — 27_A $57.3 Most Government agencies do not calculate detherefore, acpreciation on property and equipment; a straightline on estimated is cumulated depreciation The useful lives asset are as follows: applied to each 50 years; ships facilities— and Buildings, structures, plant equipindustrial years; service craft— 30 classification of and ment—20 years; assets— 10 other depreciable all accordance with instructions developed by the General Accounting Office and the Ofthe provisions fice of Management and Budget under under these two of Public Law 95-595. The liabilities plans represent a major portion of the total unfunded which 95-595. is liability be reported under Public Law to Based on the present value of the for projected excess of benefits over contributions present participants for the next 75 years. determined whether the requireIt has not yet been Federal pension plans, established as a applied to the result of Public Law 95-595, should be Security System due to the uniqueness of the ments for Social methods used actuarial cost Accumulated depreciation basis, from available information. in Social security: electronics 9. 59.8 $209.4 Other jotal $75.4 repcrued pension liabilities for September 30, 1981, net resent the excess of accumulated benefits over assets available under the two plans and were calcu- for measuring benefits under the system. Veterans compensation: Represents the present value of annual benefit payments. Federal employees compensation: Represents esEmployees timated future costs for approved Federal Compensation Act cases. As annual pension reports are received from other pension plans covered by Public Law 95-595, their liability amounts will also be included. pensions, For additional information on accrued see Analysis schedule in of Pension and Retirement Plans the supplemental section (page 130). years. Loss reserves programs 12. 10. Borrowing from the public As of September 30, 1981, the gross amount of preFederal debt outstanding net of unamortized This billion. and discounts was $994.3 miums amount is reduced by $209.9 billion for intragovern- amount of Federal debt out- mental holdings. The disstanding net of unamortized premiums and billion. $908.5 was counts, as of September 30, 1980, This amount was reduced by $199.6 governmental holdings. As of billion for intra- September $126 schedfrom the public, see the Federal Debt Maturity 129). (page ule in the supplemental section Accrued pension, retirement, and disability plans The accounting and disability for plans accrued pension, retirement, is of guarantee and insurance agencies do not make any provision and insurfor estimated losses on loan guarantees estireasonable provide not do others ance, while mates of losses. information on loss reserves for additional For guarantee and insurance programs, seethe Commitments and Contingencies of the U.S. Government schedule in the supplemental section (page 128). 30, 1981, approxforeign and international investors held with the outstanding imately $135.5 billion of the debt was 1980, 30, September public. The amount as of borrowing on information billion. For additional 11. A number for subject to several different 13. Current noncash provision for social security The noncash provision for social security repreliability sents changes in the social security accrued of between periods based on a 30-year amortization this for methods the actuarial deficit. Accounting provision require additional study. The noncash amount is not included in the State- a substantial but inde- of Operations because current terminate portion is not applicable to the ment 117 jriod. The Statement ish benefit of Operations does include payments. The current noncash proviis $188.4 billion in 1981. Dn for social security L for these programs in future years. Listed below are the programs for fiscal 1981 that can be terminated only if the laws are changed. 1981 Contingencies [In billions] Several Government agencies insure businesses id individuals against various types of risks. nount of insurance coveraqe B maximum risk exposure in force, to the The representing Government, as of September 30, 1981. The Government also guarantees loans by nonjvernment enterprises to businesses and individu- These guarantees become liabilities of the Govnment only when is required to honor its guaran3S. Loan guarantees in force at September 30, 3. it $363.0 billion. For further information on ntingencies, see the Commitments and Congencies of the U.S. Government schedule in the pplemental section (page 128). for individuals Social security is 1,221.9 billion 81, are Payments and railroad $143.2 retirement Federal employees retirement and insurance 40.5 Unemployment assistance 19.5 Assistance to students Food and All nutrition assistance other Medicare and Medicaid 4.7 . . 3.5 3.0 59.3 Public-assistance-related programs 20.8 294.5 . Open-ended programs and fixed costs Net interest General revenue sharing The Government commits itself to provide services passing laws that make spending mandatory, nee a significant amount of future spending is fixed law, it is very probable that the Government will pay 68.7 5.1 Other open-ended programs and ' ' fixed costs Total 8.1 $376.4 118 Alternative Financial Statement Formats United States Government Consolidated Statement of Selected Current Assets and as of September 30, 1981 and 1980 Liabilities [In billions] Current Assets ( What the available to — Government owns resources that approximate amounts pay liabilities or to provide public service in the next year) 1981 Cash and monetary reserves Operating cash International in the Treasury Other cash Receivables (net of allowances) Accounts receivable Accrued taxes receivable Loans receivable Advances and prepayments Total: . monetary reserves. Current assets $18.7 1980 119 United States Government Consolidated Statement of Other Assets as of September 30, 1981 and 1980 [In billions] {Resources that generally would not be liquidated to finance operations in the next year) 1981 Loans receivable (net of allowances) Inventories (at cost) Goods for sale Work in process Raw materials Materials and supplies for Government use Stockpiled materials and commodities Property and equipment Land Buildings, structures, and facilities hardware Equipment Military Construction in progress Other Accumulated depreciation Deferred charges and other assets Total: Other assets ^20 United States Government Consolidated Statement of Other Liabilities as of September 30, 1981 and 1980 [In billions] {Amounts owed that will not fall due in the next year) 1981 1980 Unearned revenue $22.8 $17.5 Borrowing from the public 386.1 Accrued pension, retirement, and Military personnel Civilian employees disability plans Social security Veterans compensation Federal employees compensation Loss reserves Other for guarantee and insurance programs liabilities Total: Other liabilities 121 United States Government Consolidated Statement of Changes in the Operating Cash Balance for the Years Ended September 30, 1981 and 1980 [In billions] 1981 Operating cash beginning of period Sources of cash: Budget receipts Net borrowing from the public' of cash: Budget outlays Off-budget outlays Other means .0 602.6 Total Uses $21 of financing^ Total Operating cash end of period 1980 $24.2 122 Statement to Introductory the Supplemental Schedules The following schedules present information which in some cases is unique to the Federal Government or is not generally shown as a part of published financial statements. The information in the schedules reflects various operations of the Government under laws passed by the Congress, and in some cases shows the financial costs to the Government of providing benefits through the tax system or through other indirect means as opposed to direct Federal revenue collection or spending. There are certain schedules that are incomplete. As a prototype, this report attempts to show what is planned with regard to providing a comprehensive overview of Federal financial operations. In some cases, the schedules support the financial results shown in the consolidated financial statements; in others, there is little relationship between the schedules and the statements. Consequently, each of the tables should be considered individually as a specialized information source. The I following schedules are presented Flow of in this section: Funds Projections The information in this schedule was obtained from the 1983 Budget of the U.S. Government prepared by the Office of Management and Budget. It presents actual and projected 1982-85 cash receipts and outlays. Although the consolidated financial statements are prepared on an accrual basis and reflect historical financial data, no attempt has been made here to develop projections on an accrual basis. The data presented here also differ from the statements certain receipts are treated as reductions of outlays, according to con- in that ventions adopted for budgeting purposes. These projections are not forecasts of future receipts and outlays, nor are they recommendations for policy-setting purposes. They simply reflect what may happen to cash basis revenues and expenditures considering certain basic assumptions reflected in the budget. The receipts projections are consistent with the continuation of current tax laws as modified in the 1983 Budget. Outlay estimates indicate the degree to which resources would be committed by the continuation of existing and currently proposed programs through fiscal 1985. II Financial Statements of the U.S. This schedule is Government Restated developed from the Statement for General Price-Level Changes of Financial Position and Statement Operations. Historical values have been restated to account for changes purchasing power of in of the general the dollar Accounting for inflation by this method provides comparability between years, since all dollars are equivalent to the current level of purchasing power This restatement generally follows the Financial Accounting Standards Board Statement No. 33, "Financial Reporting and Changing Prices." Derived from the Consumer Price Index for All Urban Consumers (CPI-U), the average conversion factors used here are: fiscal 1981 1.039 and fiscal 1980 1.041. Monetary assets — and liabilities as of September — 30, 1981, are not restated because they already represent dollars of current general purchasing power. Effect of Tax Benefits on Federal Revenues The Effect of Tax Benefits on Federal Revenues schedule is designed to show the revenue losses attributable to tax law provisions that allow special exclusions, exemptions, or 123 deductions from gross income or provide special credits, tax rates, or deferrals. The schedule shows the approximate cost of tax benefits. It should be noted that the effect on revenues of adding or deleting a particular tax benefit would not be the same as the dollar amount currently associated with the benefit. Consequently, it is not possible to say what the effects of increasing or decreasing selected benefits would Some for IV be without considering a number of variables. may have occurred since data presented have been condensed minor distortions purposes of this report. Commitments and Contingencies of the U.S. Government The Commitments and Contingencies schedule is designed to show two basic types of These are the maximum potential liabilities and the anticipated liabilities which is reasonably certain, based on experience and other factors, will occur The financial information. it anticipated liabilities are the equivalent to allowance for losses. As used in commercial accounting, a commitment represents an obligation to pay for goods or services upon delivery under a contractual arrangement. Commitments shown here are represented by long-term contracts for which appropriations have not yet been provided by the Congress, and undelivered orders representing obligations of currently available appropriations. A contingency depending upon the outcome terms of the maximum risk exposure without regard to existing contingent assets which would be available to offset potential losses. The "ratio of losses incurred to premiums written" represents the probability of incurring those losses. "Loss reserves" supports the balance sheet liability "loss reserves for guarantee and insurance programs" and represents the anticipated liability. represents a possible exposure to a liability of uncertain future events or circumstances. Contingencies are stated in V Federal Debt Maturity The Federal Debt ly/laturity schedule reflects Information on the borrowing Government needed to finance the Government's operations. Information on the debt charged for each type, and is of the Federal provided by type of debt instrument, average interest rate maturity. This caption, "Borrowing from the public," which schedule is shown directly supports the balance sheet net of intragovernmental holdings unamortized premium or discount. Intragovernmental holdings represent that portion total Federal debt held by Federal entities, including the major trust funds. VI and of the Additions to Non-Federal Economic Resources This schedule indicates the ways the physical and human resources of in which the Government uses its resources to add to the Nation without acquiring physical assets. Some of these investment-type expenditures, while not adding to the Federal assets, add to the assets of State and local governments or private institutions, and all enhance the future productivity of the Nation. schedule does not provide a precise measure of the difference between capital it does indicate a useful general magnitude. Additions to State, local, and private assets include construction grants for highways, hospitals, and airports, subsidies to the merchant fleet, and conservation projects, which increase the value of private farmland and water resources. Other developmental expenditures reflect current Federal expenditures and grants which will benefit the Nation in future years by increasing productivity or well-being. These include research and development costs and education and training. While this and current items, 124 VII Analysis of Pension and Retirement Plans The Analysis of Pension and Retirement Plans schedule is designed to provide an insight these programs and associated future financing requirements as of September all Government-financed plans. Amounts for social security, military personnel, into the size of 30, 1981, for civilian employees, and other plans support the liabilities on the Consolidated Statement of The third part of this schedule provides information on cash flows and Financial Position. benefits paid to pensioners. To the extent that information for this schedule was available, it was obtained from direct contact with actuaries for the respective agencies, from published Department of the Treasury reports, and from annual reports filed with the General Accounting Office under Public Law 95-595. The schedule is incomplete in that the number of plans ultimately to be included in the schedule is not yet resolved as many as 38 separate plans might be included. GAO has developed instructions regarding the information to be contained, and the format to be used, in the annual reports. Figures developed under the GAO guidelines have been used in this schedule for 1981. — VIII Federal Facts and Figures The schedule designed to provide readers of the financial statements and schedules a benchmarks to use in making comparisons and identifying any relationships. Major emphasis has been given to providing information on the gross national product, the Consumer Price Index, employment. Federal debt. Federal expenses, and personal income taxes. In all cases, the most current data available have been provided. is set of recognizable .. 125 Supplemental Schedules SCHEDULE I Flow of Funds Projections for the Years September Ended 30, 1981-85 [In billions] 1981 Cash receipts Taxes Individual Corporation and contributions Employment taxes and contributions Unemployment insurance Contributions for otiier insurance and retirement Social insurance taxes . . . Excise taxes Estate and gift taxes Customs duties Miscellaneous Rents and royalties cash receipts Total Cash outlays by function Administration of justice Agriculture Allowances and civilian Commerce and fiousing credit Community and regional pay raises and contingencies development Education, training, employment, and social services. Energy General government General science, space, and tecfinology General purpose fiscal assistance Healtti Income security Interest International affairs National defense Natural resources and environment Transportation Veterans benefits and services Total cash outlays Total budget surplus Deficit, (deficit) oft-budget Federal entities Total surplus (deficit) . 126 SCHEDULE II Financial Statements of the U.S. Government Restated for General Price-Level Changes (Restated to September 30, 1981, Dollars) [In billions] 1981 1980 Sept 30 Sept, 30 Financial position Assets Cash and monetary reserves Receivables (net $59.9 allowances) of Inventories (at cost) Property and equipment (net of accumulated depreciation) Deferred ctiarges and otfier assets Total assets Liabilities Accounts payable Unearned revenue Borrowing from tfie public Accrued pension, retirement, and disability plans Loss reserves for guarantee and insurance programs Otfier liabilities Total liabilities Accumulated position Accumulated position beginning of period Current period results Current noncasti provision for social security Accumulated position end of period and accumulated Total liabilities position Operating resuits Revenues Taxes and duties Business-type operations Total revenues Expenses Administration of justice Agriculture Commerce and tiousing credit Community and regional development Education, training, employment, and social services Energy General government General purpose fiscal assistance General science, space, and tectinology Healtti Income security ; Interest International affairs National defense Natural resources and environment Transportation Veterans benefits and services Total expenses General price-level gain Current period results 127 SCHEDULE III and Corporate Tax Benefits on Federal Revenues for Tax Years 1981 and 1980 Effect of Individual [In billions] Estimated amount of revenue loss 1981 Income exclusion Capital gains at death Disability $3.4 and retirement benefits (social security and private) Education allowances (scholarships and Gl benefits) Foreign earnings and investment incentives (income earned abroad) and dividends (State and local bonds and debt, and life insurance) and insurance (employer premiums paid) Payroll benefits and allowances (group life, accident, and unemployment) Other (age 55 or over credit on home sales) Income deferrals Interest on US- savings bonds Real estate (home sales) Interest [Medical care Foreign earnings (domestic international sales corporations) Other deferrals Taxes (shipping companies) Deductions and credits Agriculture related (capital outlays Contributions (charitable and and gains on certain income) political) Earned income Employee stock ownership plans (funded through investment and Excess bad debt reserves (financial institutions) Exemptions (credit unions) Foreign earnings (corporations doing business Interest in tax credits) U.S. possessions) (mortgage and consumer) Investments (commercial capital gains, credits, other investment incentives, construction period developmental costs) interest, and expensing Medical Mining and timber (capital gains treatment of royalties and certain income) Old-age, disability, Other (deductions Property and other personal exemptions of motor carrier damages and rights, certain adoption expenses, and energy credit losses (casualty losses) State and local property tax and other taxes Work incentives (employment credits under work programs) and dependent care for intercity buses) 1980 ... .. 128 SCHEDULE IV Commitments and Contingencies of the U.S. Government as of September 30, 1981 [In billions] Amounts outstanding Commitments Long-term contracts Shipbuilding GSA $4.5 building construction 2.5 Energy Other 10.7 3.5 21.2 Subtotal Undelivered orders Legislative branch Judicial branch Executive Office of the President Funds appropriated Defense . . 20.9 to the President 59.3 Education 6.2 Human Health and 23.3 Services Housing and Urban Development . . . . 252.6 22.5 Transportation Environmental Protection Agency 11.9 Other agencies 39.8 Off-budget agencies 3.2 439.8 Subtotal Total commitments Contingencies Government loan and Housing credit $461.0 guarantees Export-Import Banl< of the United States . . Business loan and investment fund Farm ownership Rural development Shipbuilding and operations Transportation Veterans benefits Other Subtotal insurance in force Federal Deposit Insurance Corp Federal Savings and Loan Insurance Corp Federal Emergency Management Agency. Nuclear Regulatory Commission National Credit Union Administration Veterans Administration Department of Transportation Other Subtotal Unadjudicated claims Transportation Other Subtotal Other contingencies Veterans readjustment benefits Other , Subtotal Total contingencies Total loss reserves SCHEDULE V Federal Debt Maturity as of September 30, 1981 [In billions] Marketable Bills....' Notes Bonds Non marketable Foreign government series Government account series. . U.S. savings txjnds Other aher Agency securities Other Net borrowing from the public Current period Prior period Net increase 129 130 SCHEDULE VII Analysis of Pension and Retirement Plans as of September 30, 1981 [In billions] Social UabllttlM Accrued liability, September 30, 1980 Add: Accruals Deduct: Benefits paid Accrued liability, September 30, 1981 Accrued liability, September 30, 1981 Cumulative trust fund transactions through end of period Receipts Outlays (net of unamortized discount and premium on investments). Total assets of the trust Liability fund net of trust fund balance, September 30, 1981 . 131 SCHEDULE VIII Federal Facts and Figures Unit of Gross national product Current dollars Per capita 1972 dollars Per capita Population (Includes Consumer Armed Forces) Price Index items (1967 = 100) Purchasing power (1967 = $1.00) All Employment Total labor force Total employed Federal employment Military Civilian Federal employment as a percent of total U.S. employment Federal debt Gross debt 1972 dollars Held by public (current dollars) Percent of GNP Per capita 1972 dollars on the Federal debt (current Interest dollars) Per capita Percent of GNP Percent of total 1972 Federal expenses dollars , expenses (accrual) Total Federal Current dollars Percent of GNP Per capita Personal Income Current dollars Percent of GNP Per capita 1972 dollars Percent of GNP Per capita Income taxes paid for adjusted Income levels Under $6,000 Total Number of taxpayers $6,000-$9.999 Number of taxpayers $10,000-$1 5,999 Number of taxpayers $16,000-$24,999 Number of taxpayers $25,000-$49,999 Number of taxpayers $50,000-$99,999 Number of taxpayers $100,000-$999,999 Number of taxpayers $1 million and over Number of taxpayers domestic credit markets U.S credit markets (nonfinancial sectors) funds advanced under Federal guidance (direct and guaranteed Federal participation Total In funds advanced Totals in loans) . . Federal participation rate U.S Total funds raised Total funds raised under Federal guidance (includes Federal borrowing from public, in credit markets (nonfinancial sectors) guaranteed borrowing, and sponsored agency borrowing) Federal participation rate ttie II NATIONAL BANK REPORT 1 134 Operating Income and Expense, and Dividends [Dollar amounts in minions. National Banks, Calendar Year 1982 Source: Office of the Comptroller of the Currency] Number of banks Equity capital of \_f 4,579 : Capital stock, par value: Preferred Common Total capital stock , par value Total equity capital OPERATING INCOME: Interest and fees on loans Interest on balances with depository institutions Income on Federal funds sold and securities purchased under agreements to resell Interest on U.S. Treasury securities and on obligations of other U.S. Government agencies and corporations Interest on obligations of States and political subdivisions in the United States Interest from all other securities (including dividends on stock) Income from lease financing Income from fiduciary activities Services charges on deposit accounts in domestic offices Other service charges, commissions, and fees Other operating income 115 13 50 13,616 71,724 101,296 15,328 6,525 10,013 5,701 960 1,314 2,060 2,517 4,319 3,833 Total operating income OPERATING EXPENSES: Salaries and empl oyee benefits Interest on time certificates of deposit of $100,000 or more {issued by domestic offices) Interest on deposits in foreign offices Interest on other deposits Expense of Federal funds purchased and securities sold under agreements to repurchase Interest on demand notes issued to the U.S. Treasury and on other borrowed money Interest on subordinated notes and debentures Occupancy expense of bank premises, net, and furniture and equipment expense Provision for possible loan losses Other expenses 153,865 Total operating expenses INCOME BEFORE INCOME TAXES AND SECURITIES GAINS OR LOSSES APPLICABLE INCOME TAXES (domestic and foreign) INCOME BEFORE SECURITIES GAINS OR LOSSES SECURITIES GAINS, (losses), net INCOME BEFORE EXTRAORDINARY ITEMS EXTRAORD INAR Y TEMS 143,349 lojsie 1,898 8,618 _422 18 225 22^546 28,051 33 191 13,807 4,075 355 5,840 5,343 11,918 8 196 NET INCOME 40 8.236 Cash dividends declared: On preferred stock On common stock 3,802 1 Ratios: Net income, before dividends, to equity capital Cash dividends to equity capital _1/ Includes all banks operating as insured national banks at yearend. 7 11.48 5,31 TRUST FUND REPORTS 1 136 Airport and Airway Trust Fund The Airport and Ai rxay Trust Fund was originally established on the books of the Treasury in fiscal 1971, in accordance with provisions of the Airport and The trust fund has been Airway Revenue Act of 1970 (49 U.S.C. 1742(a) ). reestablished in the Internal Revenue Code (26 U.S.C. 9502 and 9602(b)l as a result of the Tax Equity and Fiscal Responsibility Act of 1982 (Public Law 97Amounts equivalent to 248, dated Sept. 3, 1982), effective as of Sept. 1, 1982. the taxes received in the Treasury on aviation fuel, transportation by air, gasoline used in aircraft, and tires and tubes used on aircraft are designated by the act to be appropriated and transferred from the general fund of the Treasury These transfers are made at least quarterly on the basis of to the trust fund. estimates made by the Secretary of the Treasury, subject to adjustments in later When the provisions of section transfers to the amount of actual tax receipts. 9602(b) of the act have been met. amounts available in the fund in excess of outlay requirements shall be invested in public debt securities and interest thereon credited to the fund. Ttiere are also credited to the fund additional sums from the general fund, as authorized and made available by outlay requirements in excess of available revenues, if necessary. law, to meet Amounts required for outlays to carry out the airport and airway program are available the Federal Aviation Administration, Department of made to Transportation. Other charges to the trust fund are made by the Secretary of the Treasury for transfers of certain refunds of taxes and certain section 39 credits of the Internal Revenue Code of 1954. Annual reports to Congress ire required by section 9602(a) of the act to be submitted by the Secretary of the Treasury, after consultation with the Secretary These reports are required to cover the financial condition of Transportation. and the results of operations of the fund during the past fiscal year and the expected condition and operations of the fund during the next 5 years. Results of Operations, Fiscal Year 198? Internal Revenue Code section (26 U.S.C.) Description t4. 718. 831. 358 Balance Oct. 1. 1981 Receipts: Excise taxes (transferred from general fund); Any liquid fuel other than gasoline Tires used on aircraft Tubes used on aircraft Gasoline--commercial Gasoline--noncommercial Transportation by air--seats. berths, etc Use of international travel facilities Transportation of property, cargo Use of civil aircraft 4041 4071 4071 408 4081 4261 4261 4271 4491 , 1 , (a) (3) (a) (c) (b) 1 , 100 ,000 730 ,000 1 133.630.000 fund): U 6427 6427 6426 404 4261 809 640 1 93 766 4,332 663 , , (a) (b) 1,008,401 Total refunds of taxes 132.621,599 Net taxes Federal payment Transfers of certain general fund balances 2/ Interest on investments Total . 130,000.000 Gross excise taxes Less refunds of taxes (reimbursed to general Coninercial gasoline Noncommercial gasoline 1/ Civil aircraft Any liquid fuel other than gasoline Gasoline- retailers tax Airline ticket refund 720 000 80.000 (a)(2) .'.'.'.'.'.'.'...'.'.... !"!!!!!!"!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! 541,708.267 674,329,866 receipts Outlays: Federal Aviation Administration: 809 ,936 ,064 338.596.292 Operations Grants-in-aid for airports Facilities and equipment Research, engineering and development Aviation Advisory Coniiiission--salaries and expenses. Interest on refunds of taxes 291 .506 ,896 71,579.982 ............... "!!!!!!!!!!!!!!!!!!!!!!!!!![!!!!!!!!!!!!!!!!!!!!!!!!!! 63, sis Total out! ays 1.511.682,751 Balance Sept. 30. 1982 3.881,478.472 W Includes Income tax credits. 2/ Unexpended balances of certain general fund accounts transferred to the trust fund pursuant to Airport and Airway Revenue Act of 1970, section 208 (c). Expected Condltfon and Results of Operations, Fiscal Years [In millions] Balance Oct. 1 S5,050 2/ Receipts: Excise, net of refunds. Interest on Investments Total receipts Outlays Balance Sept. 30 2/ 2,300 477 1 137 Black Lung Disability Trust Fund Section 3(a) of the Black Lung Benefits Revenue Act of 1977 (30 U.S.C. provided for the establishment of the Black Lung Disability Trust Fund on The act designates the following books of the Treasury in fiscal 1978. iceipts to be appropriated and transferred from the general fund of the Treasury the trust fund: excise taxes on mined coal tonnage; taxable expenditures of ivate black lung benefit trusts; reimbursements by responsible mine operators; Estimates made by the id related fines, penalties, and interest charges. cretary of the Treasury determine monthly transfers of amounts for excise taxes the trust fund, subject to adjustments in later transfers to actual tax outlay requirements in excess of available revenues. e To carry out the black lung disability program, amounts are made available to the Department of Labor. Other charges to the fund are to pay administrative expenses incurred by the Department of Health and Human Services and the Department of the Treasury, and also '',0 repay advances from the general fund and interest on advances. iceipts. an 14(a)) I I Amounts available in the fund in excess of current expenditure requirements e invested by the Secretary of the Treasury in interest-bearing public debt Also credited to ^curities, and any interest earned is credited to the fund. le fund, if necessary, are repayable advances from the general fund to meet Section 3(c)(1) of the act requires the Secretary of the Treasury to submit report to Congress not later than the last day of March after annual consultation with the Secretary of Labor and the Secretary of Health and Human condition and resul ts of Services. The report must present the financial operations of the fund during the past fiscal year and the expected condition and operations of the fund during the current fiscal year. Results of Operations, Fiscal Year 1982 lance Oct. 1, $2.628,129 1981 ceipts; Excise taxes (transferred from general fund): $0.50 per ton on coal from underground mines $0.25 per ton on coal from surface mines 2 percent tax limitation collections on coal 2 percent tax limitation collections on coal Jl per ton on coal from underground mines 1/ $0.50 per ton from surface mines 4 percent tax 1 imi tat ion collections on coal 4 percent tax limitation collections on coal from underground mines from surface mines U from underground mines from surface mines 1/ W 39,359,555 47,195,326 -7,749,648 23,661,944 214,955,755 97,782,937 44,889,841 30,650,258 Section 4952 taxes on taxable expenditures ^ 490,745.968 Gross tax receipts Reimbursement to general Less: fund for refunds of taxes Collections from responsible coal operators Fines, penalties, and interest Interest and profit on investments Advances from the general fund Repayment of advances to the general fund Less: Total 2. 490,745,968 Net tax recei pts 2^/4,028,990 2^/5,679,278 283,002.419 2. 783.456,655 receipts itlays: Total ilance Sept. ' ' 587,698,972 Benef i t payments Reimbursement to mine operators Payment of administrative expenses: Department of Labor Department of Heal th and Human Services Department of the Treasury Interest on advances from general fund Interest on refunds of taxes 35,095,000 694,326 160,596,959 1 784,085,257 outl ays 1,999,526 30, 1982 Effective Jan. 1. Reflects reported "fines, penalties, were $253,616 and 1982, Public Law 97-119. fiscal yearend data; adjustments made subsequent to yearend for and interest" and "collections from responsible coal operators" $9,454,652, respectively. Expected Condition and Results of Operations, Fiscal Year 1983 (In thousands) ilance Oct. 1, 1982 , !ceipts: Excise taxes Interest Advances from general fund Section 4952 taxes Fines, penalties, and interest. Total receipts itlays: Benefit payments Administrative expenses Interest on repayable advances. Total outlays ilance Sept. 30. 1983 566 , 138 Hazardous Substance Response Trust Fund To carry out the hazardous substance response program, amounts are made Other charges to the fund are available to the Environmental Protection Agency. to pay certain administrative expenses incurred and repay advances from the general fund and interest on advances, The Hazardous Substance Response Trust Fund was established on the books of the Treasury in fiscal 1981, in accordance with provisions of the Hazardous Excise taxes are Substance Response Revenue Act of 1980 (42 U.S.C. 9631 {a}). collected on petroleum and certain chemicals by the Internal Revenue Service and All other receipts are appropriated from the general fund to the trust fund. deposited directly to the trust fund. An annual report to Congress by the Secretary of the Treasury is required by section 9633(b)(1) for each fiscal year ending on or after Sept. 30. 1981. These reports must present the financial condition and the results of operations of the fund for the past fiscal year and its expected condition and operations during the next 5 years, Amounts available in the fund in excess of current expenditure requirements are invested by the Secretary of the Treasury in interest-bearing public debt Also credited to securities, and any interest earned is credited to the fund. the fund, if necessary, are repayable advances from the general fund to meet outlay requirements in excess of available revenues. Results of Operations, Fiscal Year 198? Bal ance Oct. 1 , $136.934,678 1981 Receipts: Excise taxes, pursuant to Internal Revenue Code {26 U.S.C. 4611, 4661) Appropriations from the general fund i ncome I nterest Recoveries 243.993.632 26.600,000 34 , 500 , 296 ?. 309. 495 307,403.424 Total recei pts Outlays: Environmental Protection Agency 79.576,413 Total ou tl ay s ^9.^76.413 Balance Sept. 30, 1982 364,761.689 Expected Condltfon and Results of Operations. Fiscal Years 1983-87 [In millions] Balance Oct. 1 Receipts: Excise taxes, net of refunds Interest on investments General fund transfers Fines and penalties Recoveries 1983 1984 1985 1986 1987 J,/$406 $581 $708 $773 $473 256 273 282 47 40 55 57 44 13 43 20 44 - - 9 Total receipts Outlays Balance Sept. 30 U 581 708 Includes unamortized discount of $41.4 million as presented in the President's Budget Appendix for fiscal 1984. and 4081 of the Internal Revenue Code (26 U.S.C.) imposed after Mar. 31, 1983. The funds from this account shall be used for expenditures in accordance with section 21(al(2) of the Urban Mass Transportation Act of 1964. The remaining excise taxes collected shall be included in a highway account within the trust fund and expenditures for this account shall be made in accordance with the provisions of Public Law 97-424. Highway Trust Fund was originally established on the books of the accordance with provisions of the Highway Revenue Act of 1957, as It was reestablished on the books of the Treasury U.S.C. 12 note). Amounts equivalent to the Surface Transportation Assistance Act of 1982. xes on gasoline, diesel fuel, special motor fuels, tires, tubes, tread rubber, immerciat motor vehicles, truck use, lubricating oil, and parts and accessories are designated by the act to be appropriated and trucks, buses, etc. r These ansf erred from the general fund of the Treasury to the trust fund. ansfers are made at least monthly on the basis of estimates by the Secretary of of actual the amount Treasury, subject to adjustments in later transfers to le Amounts available in the fund in excess of outlay requirements are X receipts. ivested in public debt securities and interest thereon is credited to the There are also credited to the fund repayable advances from the general ind. ind, as authorized and made available by law, to meet outlay requirements in cess of available revenues during a portion of a fiscal year, if necessary. The easury in 123 lended , Amounts required for outlays to carry out the Federal-aid highway program Administration, Department of Federal Highway made available the to Transportation. Other charges to the trust fund are made by the Secretary of the Treasury for transfers of certain taxes to the land and water conservation fund, refunds of certain taxes, repayments of advances from the general fund, and the interest on advances. are Annual reports to Congress are required by 26 U.S.C. Revenue Code as amended, to be submitted by the Secretary of These consultation with the Secretary of Transportation. financial condition and the results of operations of the fund year and its expected condition and operations during the next The termination date of the fund was extended to Sept. 30, 1988, as a result the Surface Transportation Assistance Act of 1982 (Public Law 97-424, approved The act also established a mass transit account within the trust m. 6. 1983). ind to be funded by one-ninth of the excise tax collections under sections 4041 I 139 Highway Trust Fund 9602 (a). Internal the Treasury, after reports cover the for the past fiscal 6 fiscal years. Results of Operations, Fiscal Year 1982 Internal Revenue Code section (26 U.S.C.) Description lance Oct. 1. $9,259.442.811 1981 ceipts: Excise taxes (transferred from general Trucks, buses, and trailers Diesel and special motor fuels Gasol ine Tires used on highway vehicles Inner tubes. Tread rubber Other tires Use of certain vehicles. Parts and accessories. Lubri cati ng oil s fund): 4061 4041 4081 4071 4071 4071 4071 4481 4061 4091 (a) (1). (b). (a) (a) (I). (3) (a) (a) (4). (2). (b) .... (a) ( 724,563.163 594,082,636 4,257.517,233 625.895.891 22.551.899 23.401,874 332.813,058 224,175,771 105,281,570 b) Total taxes , 4041 6,910.283,095 30,300,000 4081 Less transfer to land and water conservation fund Transfer to national boating safety facilities improvement fund (b). 6,879,983.095 Gross taxes Less refunds of taxes (reimbursed to general fund): Gasoline used on farms 1/ Gasoline used for nonhighway purposes or local transit^/ Floor stock taxes Lubricating oils not used in highway motor vehicles Fuel--taxicabs Commercial fishing vessel s Gasohol (tax paid gasoline) Gasoline, other Total refunds of taxes W 39i6420.... 6421.... 6412.... 6424 6427.... 4081(a). 4081(c). 6412.... 85,074,993 6.393.503 29,100,900 4,111,048 2,613,606 2,710.010 6.300.000 135.304.060 6.743,679.035 Net taxes 1,078.501.907 Interest on investments Total receipts 7.822.180,9^ tlays: Highway program: Federal-Aid Highway Act of 1956 Right-of-way revolving fund Trust fund share of traffic safety program... Trust fund share of other highway programs.... Highway safety construction Baltimore- Washington Parkway Highway safety research and development Overseas highways Highland Scenic Highway Acceleration of projects Highway-related safety grants Highland Scenic Highway Study Intermodal urban demonstration project Traffic control signal demonstration project. Carpool and vanpool grants Bicycle programs National Park Service construction , 7.788.588.665 1,369,671 174.185,680 12.711.093 281.995 7.040.649 23,795,490 (33.293) 80.681 21.302.211 69.518 577.941 3.020.975 1,527,052 561.717 126.279 outlays., 8.035.206,322 alance Sept. 30. 1982. 9.046,417.431 Total / Includes income tax credits. Tax credits are charged to the fund on the basis of estimates and later adjusted to actual. 140 Highway Trust Fund-Continued Expected Condition and Results of Operations, Fiscal Years 1983-88 [In millions] Combined Statement (Highway and Mass Transit Accounts) Balance Oct. $9,150 I U Receipts: Excise taxes, net of refunds. Interest, net 8,469 11.420 1,045 12,076 994 12,394 906 12,807 1,083 755 13.347 1.016 receipts 9,552 12,465 13,070 13,300 13,562 W14.363 8.64? 11,953 13,338 14,350 15,060 19.118 Total Outlays Balance Sept. 30 10,200 Mass Transit Account Balance Oct. 1 U Receipts: Excise taxes, net of refunds. Interest, net Total Outlays receipts Balance Sept. 30 S536 141 Inland Waterways Trust Fund The Inland Waterways Trust Fund was established on the books of the Treasury fiscal 1981, in accordance with provisions of section 1801 (a) of the Inland Amounts determined by the waterways Revenue Act of 1978 (33 U.S.C. 1801 >ecretary of the Treasury to be equivalent to the amount of taxes received in the rreasut-y under section 4042 of the Internal Revenue Code of 1954 (relating to tax in commercial transportation in inland waterways) shall be fuel used 3n These amounts shall be transferred at least ippropriated to the trust fund. quarterly from the general fund on the basis of estimates made by the Secretary, adjustments in later transfers to the amounts of actual tax to subject -eceipts. It shall be the duty of the Secretary of the Treasury to invest in interest-bearing obligations of the United States that portion of the trust fund The interest on, and in his judgement not required to meet current withdrawals. :he proceeds from the sale or redemption of, any obligation held in the trust fund shall be credited to and form a part of the trust fund. in ) . Section 1803(i) of the act provides that amounts in the trust fund shall be available, by appropriation acts, for making construction and rehabil i tat ion expenditures for navigation on the inland and intracostal waterways of the United States described in section 1804 of the act. Expenditures must be otherwise authorized by law. Reports to Congress are required by section 1801 (c)(1) of the act to be submitted each year ending on or after Sept. 30, 1981, by the Secretary of the Treasury. These reports are required to cover the financial condition and the results of operations of the fund during the past fiscal year and its expected condition and operations during the next 5 fiscal years. Results of Operations. Fiscal Year 1982 ia 1 ance Oc t 1 . . 1 981 $21,179.491 (eceipts: Excise taxes (transferred from the general fund): Tax on liquid used as fuel in commercial transportation on inland waterways (26 U-S.C. 4042) Interest Income Total 29,925,289 5,448,239 recei pts 35,373,528 )utlays: Corps of Engineers lalance Sept. 30, - 1982 56,553,019 Expected Condition and Results of Operations, Fiscal Years 1983-88 [In millions] 1983 talance Oct. 1 1984 m55.5 $100.3 $162.2 S236.d $334.1 36.0 8.8 47.0 14.9 52.0 22.6 65.0 32.3 72.0 44.4 leceipts: Excise taxes, net of refunds Interest on investments Total receipts )utlays lalance Sept. / 44.8 -_ 30 100.3 162,2 Includes accrued interest purchased and net premium or discount on investments as represented in the Budget of the United States Government, Fiscal Year 1984 and funds considered by Office of Management and Budget to be investment expenses. 80.0 58.9 142 Reforestation Trust Fund The Reforestation Trust Fund was established on the books of the Treasury in fiscal 1981 to continue through Sept. 30. 1985, in accordance with provisions of Title III--Reforestation, of the Recreational Boating Safety and Facilities Improvement Act of 1980 (16 U.S.C. 1606a la)). The act provides that the Secretary of the Treasury shall transfer to the trust fund tariffs, limited to not more than $30 million for any fiscal year, received in the Treasury from Oct. 1. 1979. through Sept. 30, 1985, on (1) rough and primary wood products, and wood waste; (2) lumber, flooring, and moldings; and (3) wood veneers, plywood, and other wood-veneer assemblies, and building boards. Amounts available In the trust fund in excess of current withdrawals are invested in interest-bearing obligations of the United States or in obligations guaranteed as to both principal and interest by the United States. The interest on, and the proceeds from, the sale or redenptlon of any obligations are credited to the trust fund. For each of the first 5 fiscal years beginning after Sept. 30, 1980, there is authorized after that date to be appropriated to the Secretary of Agriculture. out of any amounts in the trust fund, an amount equal to the sum of the amount bj which the sum estimated by the Secretary of Agriculture for the fiscal year undei section 3(d)(2) of the Forest and Rangeland Renewable Resources Planning Act o be necessary for reforestation and othei 1974 (16 U.S.C. 1601 (d)(2)) to treatment of acreage, as set forth In the report transmitted by the Secretary t( the Congress under that section for the fiscal year, exceeds L.e sum of thi amounts appropriated for the fiscal year under the authorization contained 1i section 3(d)(3) of such act and under any other provision of law to carry out thi same purpose; and such sums as are determined by the Secretary of Agriculture t( be properly allocable to administrative costs of the Federal Government incurrei for the fiscal year in connection with the reforestation program carried ou' under that act. Section 1606a (c) (1) of the act requires the Secretary of the Treasury after consultation with the Secretary of Agriculture, to submit an annual repor' on the financial condition and the results of the operations of the trust fum during the past fiscal year and on its expected condition and operations durlni the next fiscal year. Results of Operations, Fiscal Year 1982 Balance Oct. I, $64,159,804 1981 Receipts: Excise taxes, pursuant to 19 U.S.C. 1202 Interest on investments 30,000,000 10.142,958 Total receipts 40.142,958 Outlays Balance Sept. 30. 1982 104,302,762 Expected Condition and Results of Operations, Fiscal Tear 1983 (In thousands Balance Oct. 1, 1982 Receipts: Excise taxes, net of refunds Interest on investments Total receipts Outlays Balance Sept. 30, 1983 $104,303 30,000 4,117 34,117 108,035 30. 385 CURRENCY AND COIN OUTSTANDING AND IN CIRCULATION U.S. ' 144 U.S. Currency and Coin Outstanding and in Circulation AMOUNTS OUTSTANDING AND IN CIRCULATION War. 31. 19B3 Coin 2/ Currency Total currency and coin Amounts outstanding Less amounts held by: The Treasury The Federal Reserve banks.. Amounts in circulation Federal Reserve notes 1/ Total Currency no longer issued U.S. notes Dollars 3/ Total $174,780,771,994 $160,165,025,096 $159,567,580,654 $322,539,016 $274,905,426 $14,615,746,898 Fractional coin $2,024,703,898 $12,591,043,0Cf - 227,474 69,078 489,328,656 478,140,091 361,621,075 152.263.925 127,707,581 325,876,16t 301,098,377 274.608,874 13,648,278,151 1.510.818,898 12,137,459,25. 514,164,146 18,552,613,157 24,835,490 18,074,473,066 3,167.377 18.074,403.988 21,440,639 155,713,994,691 142,065,716,540 141,490,009,289 COMPARATIVE TOTALS OF MONEY IN CIRCULATION--SELECTEO DATES CURRENCY IN CIRCULATION BY DENOMINATION Mar. 31, 1983 Amount Denomination Federal Reserve notes 1/ $1 $2 $5 $10 J20 $50 $100 $500 $1 ,000 $5,000 $10,000 Fractional parts Partial notes 5/ Total currency $3,504,288,708 682,750,000 4,547,258,170 11,156,530,350 44,828,887,160 16,933,886,550 60.063,370,500 158,917,500 184,492,000 1 .835,000 3.500.000 487 notes $143,481 133,741,466 113,319,610 5,950 3,380 53,884.400 142.065.716,540 Currency no longer issued $153,950,650 13,092 39,665,610 25,582,380 20,314,080 11,791,150 22,737,400 193,000 211,000 50,000 100,000 (in mil Mar. Feb. Mar. June June June June June June June 31, 1983 28, 1983 31, 1982 30, 1980 30, 1975 30, 1970 30, 1965 30, 1960 30. 1955 30, 1950 1 Per capita V ions) $155,714.0 153,213.8 142,571.5 127.097.2 81.196.4 54.351.0 39.719.8 32.064.6 30,229.3 27.156.3 $666.19 r655.94 r615.75 558.28 380.08 265.39 204.14 177.47 182.90 179.03 487 25 115 1/ Issued on and after July 1, 1929. Excludes coin sold to collectors at premium prices. T/ Includes $481,781,898 in standard silver dollars. "?/ $3,350 ,194,577 548 995,442 4,394 .272.950 11,130 ,942,020 44,808 ,569,700 16,922 ,095,400 59,986 748,700 158 ,724,500 184 ,281,000 1 .785,000 3 400.000 U.S. 141,490,009,289 301,098,377 274,608,874 4/ Based on Bureau of the Census estimates of population. ?/ Represents value of certain partial denominations not presented for redemption. Treasury Responsibilities under In conjunction with the Reform '88 cash management initiatives has assumed additional agency responsibilities to support an verall Federal cash management program. These increased responsillities enconpass negotiating with agency management officials for the dentification of cash management improvements to current operations and ie establishment of planned action milestones and dates, and the anitoring the progress of agencies in implementing action plans to isure the fulfillment of established goals and reporting requirements. reasury Under 0MB Bulletin 83-6 (October 22, 1982), Federal agencies were (1) an inventory [ratified by dollar amount, identifying each cash receipt and sbursement activity subject to cash management controls and projecting )r each activity the significant interest savings that can result from Ijroving cash management practices, and (2) a detailed action plan iscnbing each major cash management problem, issue, deficiency, and iportunity in the agency, the specific steps needed to correct the oblem or issue and a timetable, for acconpl ishing each step easury s Cash Management Staff has worked closely with 0MB in •gotiating with agencies the elements and timeframes of the action ans. To date, 11 of the agency action plans are in the final stages approval. The projected cash management savings resulting from these plans exceed $88 billion. quired to submit an agency action plan containing: 147 Reform '88 Cash Hflanagement Many of the projected cash management savings identified can be attributed to the conversion from manual collection and disbursement practices to state-of-the-art funds transfer systems and techniques. Among the more highly sophisticated mechanisms available for use Treasury s Bureau of Government Financial Operations is actively pursuing the implementation of electronic funds transfer, nationwide ocitbox network, automated clearinghouse system, and letter of credit Ivia Treasury Financial Communications System) throughout the Federal Government to improve the efficiency of funds flow. Progress by agencies in implementing their action plans and achieving their goals will be closely monitored by the Treasury Cash Management Staff. The Staff, in turn, will provide periodic progress reports to the Reform '88 Steering Coinntttee and the Cabinet Council on Management and Administration. In addition. Treasury staff will ,*° *".'''' *'**' *5^"'^->' '•eP'-esentatives to identify and implement ''TJll"^ additional cash management improvements. Future tables will provide the status of agency initiatives. The information shown in these tables will be based on the quarterly status reports on their initiatives submitted by agencies under the Reform '88 reporting system. *D.S. GOITERIIMQIT PRINTIKB OFFICE : 1983 0-581-6?8/l i WERT BOOKBINDING MIDDLETOWH PA APRIL 84