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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

FFO-2.

Budget receipts by source

FFO-1

Chart

FFO-3.

Budget receipts by source

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

FEDERAL DEBT
FD-1.

Summary of Federal debt

FO-2.

Interest-bearing public debt

FD-3.

Government account series

FO-4.

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

FD-7.

Treasury holdings of securities issued by Government corporations and other agencies

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.

20
22

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,

series of savings bonds and notes combined

26
27

series E, EE, H, and HH

OUNERSHIP OF FEDERAL SECURITIES
OFS-1.

OFS-2.

Distribution of Federal securities by class of investors and type of issues
Estimated ownership of public debt securities by private investors

MARKET BID YIELDS ON TREASURY SECURITIES
MBY-1.

Chart

Treasury market bid yields at constant maturities, bills, notes, and bonds

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

FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS
GOVERNMENT CORPORATIONS AND OTHER BUSINESS-TYPE ACTIVITIES
GA-I-2.

Statements of income and retained earnings

!••

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

IFS-4.

Weighted average of exchange rate changes for the dollar

reserve assets

liabiHtfes

to foreigners

CAPITAL MOVEMENTS

LIABILITIES TO FOREIGNERS REPORTED BY BANKS

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

'6
^^
^8

CM-II-1.

Total claims by type

CM-II-2.

Total

claims by country

CM-II-3.

Total

claims on foreigners by type and country reported by banks in the United States

111

©®(raft©DT]G§
SUPPLEMENTARY LIABILITIES AND CLAIMS DATA REPORTED BY BANKS

Page

THE UNITED STATES

CM-III-1.

Dollar claims on nonbank foreigners

CM-III-2.

Dollar liabilities to, and dollar claims on, foreigners in countries and areas not regularly reported separately.

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

CM-IV-3.

Total

liabilities by type and country

CH-IV-4.

Total claims by country

CM-IV-5.

Total

claims by type and country

TRANSACTIONS IN LONG-TERM SECURITIES BY FOREIGNERS REPORTED BY BANKS AND BROKERS

THE UNITED STATES

CM-V-1.

Foreign purchases and sales of long-term domestic securities by type

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

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

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

FCP-II-2.

Weekly bank positions

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

FCP-IV-2.

Weekly bank positions

SWISS FRANC POSITIONS
FCP-V-1.

Nonbanking firms' positions

FCP-V-2.

Weekly bank positions

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

147

of figures may not add to totals because of rounding.

Abbreviations and symbol:

represents Revised,

Preliminary, n.a. Not available,

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

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.

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

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 , 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

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

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,

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

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

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.

Changes

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

Table
[In millions of dollars.

FD— 1. - Summary

of Federal

Debt

Source: Wonthly Treasury Statement of Receipts and Outlays of the United States Governinent]

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.

9 mos.

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/ 2/

Interest-bearing debt
subject to limitation
Public debt

Other debt

Non-interest-bearing debt
subject to limitation
Publ ic debt

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

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.

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

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.

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

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.

TREASURY FINANCING OPERATIONS, JANUARY-MARCH 1983

Auction of 2-Year Notes

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.

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

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

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

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

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

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

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

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

198

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.

May 15.69-94
Aug.
15
Nov.
15

4-1/6X
8-3/41
10-1/8X
Total

1995
Feb.
Feb.
Hay
Hay
Nov

15.
15.

10-1/21
12-5/8X
10-3/81
11-1/2X

15.

May 5,93-98

3-1/2X

2.913
340
1.454
1,453

6,160

330
12

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.

Hay
15....
Aug. 15,96-01
Aug.
15
Nov.

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

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

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

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

23
30

19e3-Jan.

Feb.

Apr.

July
May

Aug.
May
Aug.

May

7
7

14
14
21
21
28
28
5

Aug.
3

June

Sept.

June

Aug.

May

Sept.
17

June

Sept.
Sept.
Sept.
52 weeks

17
16
24
23
31
30

12
11
19
18
26
25

24
Mar.

3
2

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.

29
26
23
22

1983-Apr.
Apr.

8
6
3
1

Offerings of Bills

Source: Monthly Statement of the Public Debt of the United States and allotments]

[Amounts in millions of dollars.

Amount of
bids
tendered

Total

amount

On com-

On noncom-

petitive

basi

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

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.

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.

SAVINGS BONDS AND NOTES

Sales and Redemptions by Period, Series

EE,

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

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

and EE

Accrued
discount

Exchange of
E bonds for
H and HH bonds

Amount outstanding
Interestbearing debt

Matured
non-interestbearing debt

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

,003 .942

1.146,987

1982-Har
Apr
May
June
July
Aug
Sept
Oct

.066 .393

1.070,734
1

.076 .798

.084,658

.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

1,249,312

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/

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.

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/

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.

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.

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/

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

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.
,

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

1981, through Sept. 30, 1982

Printing

Office— revolvinj fund

Funds ippniixuted
tlie

President

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

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

-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

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

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

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

lunrJs

for

Progress loan fund

for

Intematioiul

Agency

for International

Agency

lor International

otiiei credit

pgrams

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

1M1, through Sept.

Agency fw

International

Agency

30,

tot International

DevekJpriei''—

Devetopment—common

Developinent— loreign

Dcvetopmenl— kans

acQUlsition of property

defense, economic, and

currency loans, private

predecessor agencies

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

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

Farmers

Home

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

1981, through Sept. 30,

1982—Continued

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

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.
Deparlmnt

ACCOUNT

Air Force

Defense

defense

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

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

income and expense (-)

expense (-) before distribution

NALYSIS OF CHANGE

EARNINGS
ening balance
t

-393
1,960,824

Other

4,428,551,776

income and expense (-):

income or expense (-)

justments for prior periods
itribution of

income:

Dividends
Otfier

)sing balance

RETAINED

1,960,431

4,430,512,207

$32,725,152

$79,969,236

32,725,152

79,969,236

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,

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

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

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

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

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

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,(

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

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

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

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

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

Eduution

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

expense (-) before distribution

alysis of
:arnings
ling

change

balance

ncome

stments

346

income and expense (-)

expense (-)

for prior periods

ibution of income:

Dividends

Other

ng balance

10,607

retained

Depaitment of

Inag

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

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

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

RETAINED

1981, through Sept. 30,

1982—Continued

Bonneville Power

Southeastern Power

Soultiwestem Power

Western Area Power

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

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

Health Maintenance

1981, through Sept. 30,

1982— Continued

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

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

RETAINED

1981, through Sept. 30,

low-rent public housing

COME AND EXPENSE

Interest

disposal

1982—Continued

Rental housing

Liquidating programs

Housing p(ograms-

assistance fund

revolving fund

ottier

fundst

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

1981, through Sept. 30,

Government National

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

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

-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

1981, through Sept. 30,

1982—Continued

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

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

Department

Office of the

Justiu

Secfetaty— wwtung
caiiital

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

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

expense (-) before extraordinary items

;traordinary

income and expense (-):

Gain or loss (-) on disposition of assets

Other
Total extraordinary

income and expense (-)

income or expense {-) before distribution

NALYSIS OF CHANGE

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

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

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

RETAINED

1981, through Sept. 30,
Lato-

Pension Benefit

Department

Guaranty Coiparation

worlung capital fund

Departimirt sf State

1982—Continued
Department

State-

working capital fund

Department

Transportatjon

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

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

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

RETAINED

Aviatm

Coast Guard surctiarge

Secretary—^wiling

ACOUl AND EXPENSE

Coast Guard cadet fund

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

Fednal Railroad

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

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

Bureau

Engraving

1981, tlirough 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.
ACCOUKT

L(un guaranty revolving

Direct loan revolving

Canteen service

Service-disabled

Veterans reopened

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

RETAINED

1982—Continued

AdministntKxi

me:

Sales of services

1981, through Sept. 30,

Veterans

;OME AND EXPENSE
Sales of goods

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

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

2,155,578

-91

177,012

40,097,694

12,036,555

2,155,578

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

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

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

Farai Ciedit

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

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

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

income and expense (-)

income or expense (-) before distribution

OF CHANGE
EARNINGS

iNALYSIS

pening balance
et

income

expense (-)

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

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

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

Office o( Personnel

Management—
employees
fund

life

insurance

Office of Personnel

Management— retired
employees health
tienefits

fund

1981, through Sept. 30,

Office of Personnel

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

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

1981, through Sept. 30,

1982—Continued

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

INTERNATIONAL FINANCIAL STATISTICS
Table IFS-2.

Selected U.S. Liabilities to Foreigners
[In millions of dollars]

;

INTERNATIONAL FINANCIAL STATISTICS
Table IFS-4.

- Weighted Average

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...

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.

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)

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

Liabilities to Foreigners

CM-l-1. -

Table

MOVEMENTS
Reported by Banks

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

Banks and other foreigners

Payable
End of
cal endar year
or month

Total

Payabl

liabili-

ties
(1)

Total

dollars

{2)

(3)

orei gn

currencies l_/
(4)

Payabl
Payabl
in

Total

to all

Payable

orei gn

curren-

Payable

Payable
in

foreign
curren-

Payable
in

foreign
curren-

76
CAPITAL hflOVEMENTS
Table

CM-l-2. -

Total Liabilities by Type, Payable

Part A — Foreign Countries
[In millions of dollars]

Dollars

CAPITAL
Table

CM-l-3. -

MOVEMENTS

Total Liabilities by Country

[Position at end of period in millions of dollars]
Cal

endar year

198

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

Sweden
Switzerland
Turkey
United Kingdom
U.S.S.R
Yugosl avia
Other Europe
Total

Brazi

British West Indies
Chile
Co 1 ombi

Cuba
Ecuador
Guatemala

12.256

8.535

8,223

152

7.735
463

5.515

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

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

1,662
2,633
422
730

Israel

889

Japan
Korea
Lebanon
Mai aysi

16,390
1,528
138
116

Pakistan
Philippines
Singapore
Syri
Thai

473
919
1,201

a
1

and

-exporting countries 1/..
Other Asia
Oi

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

10.145
670

371
367
97

ama i ca

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

.418

1.382
29.288
297

49.091

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

378
64

408
6.758
541

6.457

703

.061
77

257

363
64
.630
1 . 386
30.652
256

48.578

47,656

,643

388

30 .941

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

Colombia
Cuba
Ecuador
Guatemal a
Jamaica
Mexico
Netherlands Antilles
Panama
Peru
Trinidad and Tobago
Uruguay
Venezuela

.070

1.877

1.917
27.469
.068

1.873

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

250

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

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

the United States

Total Claims by Type

[Position at end of period in millions of dollars]

Calendar
year
1980 r

1981

June

Sept.r

Deer

Mar.r

June

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,

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

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

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

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

,314

822
8,107

401

795

201
5,209

58
76

450
897
7.458
284
2,201
380
804
7,340
1,462
595
612
1,013

622

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

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

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

1,613

1,934
139

2,099

2,200

164
135

166
400

30,034

30.087

,273

929
10.856
2,324

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

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

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

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

Pakistan
Philippines
Singapore
Syria
Thai
Oi

and
-exporti ng countries
1

\_/

Other Asia
Total Asia

Africa;
Egypt
Ghana
Li berl

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

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

912
1,987
343

695
2,116

43,970

1,073
536

38
581

66
502

315
I

346
,704

30,333
7.581
69
357
197
2.565

4,023
42

455
3,284
537

401

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

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

doMars]
CI aims of banks'
domestic customers

Reporting banks' own claims

Memorandum
Claims on
Total
banks'
Total

Country

cl af ms

Belgium-Luxembourg
Bulgaria
Czechoslovak! a
Denmark
Finland
l^rance

Total

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

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

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

51651
3 268
'

2,141
'l7I

I99

*'=«'co

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

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)

269
5,687

401,884
55
30
28
*

123

402,007

Total

orei gn pub! ic
1

(11

Europe:
Austria

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

on accept-

ances

Payable
Payable

82
CAPITAL
Section

III.

- Supplementary

Liabilities

VOVEMENTS

and Claims Data Reported by Banks

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

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

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

1979

1980

Dec

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

36
106
24

22
137

23
168

68
284

ler

ze
via
:osta Rica
iel

!o1

)ominican Republic
:1
Sal vador
rench West Indies and
French Guiana
iuyana
iaiti

2
1

229
191
220
242

313
257
355
117

191
331

13
11

10
10

151

243
216
340
275

191

200
233
478
302

531
431

20
36
63

16
22
82
197

n.a.

229
401
191
49
15

101

229
68

85
170
126
100

293
135
108

119
357
183
305

londuras
Nicaragua
'araguay
luriname

140
164
83
15

Asia:
Afghanistan
Bangladesh
Brunei

106
48

84
35

105
139

49
53

19
52

18
36

41
74

35
18

270
354

187
188
354
301

23
I

n.a

226
330
604

417

203
324
545

10
17

144
245
50

189
204
122

137
159
140

136
139
187
n.a.

13
15

349

10
8

ler

lurma
lordan

Kampuchea
iacao

(formerly Cambodia)...

Jepal
^ri

Lanka

Metnam
femen (Aden)...,
(emen (Sana)

6
8

35
93
48
10
17

25
53
77

31
41

26
22

18
21

16
10

21
6

32
15
22
47

19
21
53
76

50
20

13
21
32

6
6

24
17

161

30
65
35
10
26

37
n.a

28
50
113
19

117

137

n.a.

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

56
46
14
7
6

30
104

•

36
51

35
80

n.a.
n.a
8

72
141
13

168
84
n.a.

11
16
11

23
49

20
10

22
49
50
25
19

23
43
32
21
26

53
18
48

70
15
13

51
19

29
10
52

63
26
25

36
211
26

21
23
12
27

25
40
24
27

31
17

39
12

other:

«ew Hebrides
'Jew

Zealand

^apua New Guinea
U.S.

Trust Territory of
Islands

the Pacific

Less than $500,000.

157

125

177

141

123

126
33

n.a.

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.

:
:

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

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

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
,

Payable in foreign currencies
Financial
Commerc al
Trade payables
Advance receipts and other

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.

CAPITAL
Table

CM-IV-2. -

MOVEMENTS
Total Liabilities by Country

[Position at end of period in minions of dollarsj
Cal endar

Country
1978

year

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

552

502

50
*

1
1

1,237
49
886

635

382

49
422

301

28
702
32

21
II

Sweden
Switzerland
Turkey
United Kingdom
U.S.S.R
Yugoslavia
Other Europe
Total Europe

253
48
121

602

663

475
340

504
1,042
103
95
50
118
75

988

71
2

653

160

93
50
84
72
335

2,517

802

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

866

811

23
28

16
28

992

989

16
17

25
22

596
203

121

121
183
99
10

161
51
6

184
103
10
2

271
94

114
67

114
64

113
149
167

Total Latin America and Caribbean
Asia:
China:

Mainland
Taiwan
Hong Kong
India
Indonesia
Israel

Japan
Korea
Lebanon
Mai ays

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

527

207

141
10
54

213

1,642

4,684

Af ri ca

Total

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

Portugal
Romania

Payable
in foreign
currencies

CAPITAL
Table

CM-IV-4. -

MOVEMENTS
Total Claims by

Country

[Posttlon at end of period In millions of dollars]
Cal endar

Country
1978

year

1981

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]

Financial claims
Total
Total

Country

cl alms

financial
claims

Denominated
In dol

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

162

152

45
49
594

22
129

22
124

12
45
28
46S

508

128

50
13

341
47

337
364

402
393

65
30

53
23

70
75
66

40
40

268
128
413

39
84

39
37

4.604

3,839

62
120
74

Europe

Total

Canada
Latin America and Caribbean;
Argentina
Bahamas
Bermuda
Brazi

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

3,159

3.137

271

60
,608

312

2,665

2,656

169

45
.128

37
12

104
43
S3
946
48
188
89
27

274

270

86
48

482
346

139
145

98
138

Mainland
Taiwan
Hong Kong
India
Indonesia

48
207
174

Israel

263

42
183

1,348
269

191
97

Asia:
China:

63
174

Japan
Korea
Lebanon
Mai ays

183
157
97

23
34

Pakistan
Philippines
Singapore
Syria
Thailand
Other Asia

107

240

122

805

Total Asia

Africa:
£

gy P

103

Ghana
Liberia
Morocco
South Africa
Zaire
Other Africa

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

398

Total Africa

Total

29
34
117

93
14

41
7

69
35
26
14
255
89
328
29
765
62

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

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

Gov't corporations
and federally sponsored
a gencies

Marketable Treasury bonds and notes

Bonds 1/

Stock

Foreign countries
InternaOther
tional
forand reinstitutlons eigners gional
Officlal

Total
(1)

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)

90
CAPITAL
Table

CM-V-3. -

Net Foreign Transactions

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

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

-779

61
82

182

133

-122

410

-15

117

-6
-6

-1
-6

-12

5.326

984

2.709

231

-32

•

763
259

381
167

•

-1

•

32
307

-U

693

-43

-160

-808

929

-858

-365

-277

-45

64-1

-1

185

•
-

24
-171

-5

-7

-50

-10

-61

-45

•

-1

.., ___ -.i
*

-2

-4
165

-2

-47

-47
-143

-21

303

107

-52
-2

1,686

273

333

211

447

2
-

21
-2

2
*

-3

•

-2

-8

-1

-60

-1

-10

51
6

3
-

-101
-8

•

-10

-8

•

.
*

-49

-40

-3
68

-16

-38

-6
199

-12
10

-13

*
*

-529

-100

536

_.. _*_ ._•

-199

-100

3.129

994

1.194

-4
-32

-3
26
127

20
68

-4
14
72

440

•

155

254

199

-305

37
14

•_!

- 1

•

*
*

3
•

•*

Eu rope

Canada
Latin America and Caribbean:
•

Argentina
Bahamas
Bermuda
Brazil

British West Indies
Chile
Colombia

-90

Japan
Korea
Lebanon
Malaysia
Pakistan
Philippines
Singapore
Syria
Thailand
Oil-exporting countries
Other Asia

-27

2
*

25
34

-1

•

-1

-8
37
-5

•

-65

-4

-7
115
-6

*
•

•

Total

Asia

•

-5

•

41
-1

-1

3
-

-98

-33

-111

Total

•1-1-2-1
14
*

•

12-1
--77

•

-i

_i
-2
-i

-12

-125

-4

127

304

235

.-. ___ __*
1

-1

179

160

-21

-3

-6

•

7
•

•

297
797
-132

272
158
-82

-2

30
30

-83

-30

-4-7-14

•

-2

4*2

-11

5
*

169
167
49
-2

•

1.857

994

-326

-7
-1

-29

•

7.534

-625

-127

-339

192
14

-1

10.831

1.834

56_

115
•
•

-3

256

-186

-1
.3
-1

5
•

•

-2
160

•

-1
-1

-124

•

-110

-694

-292

-176

368

-242

-123

-2

*
2

._. ..* •--i-i*
**_ __* ••3
-426

-88

-340

-56

-756

-299

-76

614

102

-306

•

-2

**
3-1

•

401

-3

-128

-552

340

-exporting countries 2/
Other Africa

•_* .** ••_i_i«
-48

2
*

21
12

~~~

Africa:
Egypt
Ghana
Liberia
Morocco
South Africa
Zaire

-11

-134

India
Indonesia
Israel

23
44
-5
17

Mainland
Taiwan
Hong Kong

Asia:
Ch ina

3
•

-83

101

Total Latin America
and Caribbean

Venezuela
Other Latin America
and Caribbean

•

Peru
Trinidad and Tobago
Uruguay

Ill

Cuba

Ecuador
Guatemala
Jamaica
Mexico
Netherlands Antilles
Panama

•

-100

-15

•

-J

-1_

Africa

Other countries:
Austral la
Al
other
1

Total

other countries....

Total

foreign countries..

International and regional:
International

627

778

-H

-20

-12

-15

346

10
162

277

-4

-1

-1,452

Europeanregional
Latin American regional...
Asian regional

Africanregtonal
Middle Eastern regional...

Total International
and regional

-1.100

799

1.056

-29

-20

-11

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

Arabia, and the United Arab Emirates (Trucial
Includes Algeria, Gabon, Libya, and Nigeria.

States).

—

CM-V-4. -

Table

Foreign

Purchases

and

Long-Term

Sales

Secunties,

[In ml

MOVEMENTS

CAPITAL

Type

and Country,

C--'" purchases by foreigners
P'l'stlc securities

Countrv

"H^""'

Treas-

of U.S.

"^^

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
'"

.::...

S^^"^^:;;;;;;;:;'---'

[£

'1^1
^"

3^i
"'

Hungary

...:..

'•"!

|j
24

'H
44

J?
44

...
:

•

Romania

Total bonds
sales notes

(131

1141

;

18^

•

'°°

''"^
1.160

lii

432

662

1 1

•

1 1

''"^

«"«

15,802

5.06g

1,35;

2.9,1

4,759'

as'

29;

isi

;

lol

31.427 10.695

2.23?

1.791

8.597

6,227

l.aTT

284

145

1,591

1.308

631

;

„?

3*3

14.229

1.640

1.7 76

11,041

5.198

1.310

3,806

405

192

1,889

749

551

3,978

Latin America and Caribbean:
Argentina

i-»

-.-.

B^y-y-y-y-y-y----.y.-.^

^"'"°'"

Bonds Stocks

(131

^°"'

(111

''"'""

(101

—

sored
agencies Bonds Stocks

Foreign
securities

"'»

22^
35,192

'°*?

: : : : ; : : : : : : :

(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^

ti!

Quarter

First

Gross sales by foreigners
Domestic seciirltles
'
narket-

llo

During

Ions of dollars]

;

J'l

,ii

i i

6^^

?hi'i':?'."^?:.!?:':!f;;

",',

,67

la;

cSir:::;;;;:;:;;;:;;:;:;

,-,

l
2

•

Ecuador
Guatemala
Jama lea.
Mexico

5
-

..SI!'? -'41.
-

40'

A'o

ai'

~- 15

18
aa

;?hrr"!l?;;-;m;;;c;

'^"""'""

Latin America

"""^'•'>»"'"

t.i'l

1.137

=^=^=^=^==^====^=^==^======

Asia:
China:

Mainland

fSsL"?"?:;;;:;:::;;:::::;

'•"?

!•;"

'.^^

Indonesia

]Y'l^
il'rlT.:
'.

''"

'-'Il

Lebanon

'.
'.

1.624

895

268

3,602

'".

•''

''"

;

1,353

l.OU

367

1,122

98
820

4.620

1,791

•!

30
*'

?t;?^tU:;::::::;;:;;;:-

160

-33

..-

12-

Br--:;;;;;;;;;;;;;;;
Thailand
'"'"

"'"

^°"' •"'

Idl^

lAll

15.042

8,201

654

"°

>«

1.568

404

184

»,

..43.
I

134

197

555

1,S21

1,159

;

.j^s

1,6?^

20!

3.3li
6,636

880

382*

2.062

909

469

3,156

•?"'"'**

;;

306
413

1.938

186

6.796

2.850

1.720

1.005

16,371

;

770

1,263

is!
1

616

Africa:

^rlcll:::::::::::::::::::
South Africa
Zaire

"""
^°"'

^?r::;;;;:;:;;;:

""='

!??«;ir:;;:;;;;;;::;;;;:
Total

'1°,

II
26

other countries....

21
324

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

''I
6

,1
28

'it
46

153

261

2.542 17,600

6.603

3,258

?'|

fi«-^"

»'

s
4

::«'!-

474

—-~25
"

''"

2 7

3.569 15.007

9.587

113

55.607 30,982

3,309

'.»';

'.279

..006

502

5.768

6.937

1.006

542

59,896 27. 919

4.215

—

]'''-'

^
I

,6
•

~7r
4.353

-—

,994

1.007

32,058

3.576

* Less than S500.000.

'•°"

•

:
'

International and regtonal:

'•"!

•

'
-

2,569

j,-,

,»
'4

I
;

m'
1

::;:;
"I**"
...
-

7ti
26

•

'29

•

100

Other countries:

Total

'I
[

«''-'^*

Trinidad and Tobago
Uruguay

""'
Total

J
6^

488

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

16,183
148
•

145

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

105

2.078

297

809

1.073

104

•

.--..
--11*
.-2-._•_.
.-•_,
..-..
,.1.*

227

748

533

4.374

•

23
100

16
10

465
1.066

603

2.581

119
1.304

508

-.
21
?.
••_

69
67

•

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

1.857
98

670

•

149

1.014

170

159

1,074

483

153
199

274

167

3,144
234

132

4,798
1.018

738

13
141
16

•

163

119

487
1.723

20
578

24
351

5
•

7.349

534

4.726

2.868

7,808 13.939

1.925

213
748
11,377

123
100

2,417

776

6.820

1.024

316

1.038
10.638

•

50.519

18.529

2,823 10,937 12,660

1,702

511

3.867

865

438

98,078

40,412

5,122

10,897

1,160

2,877

88,461 32.804

1,496

12.926

675

5,128

2,382

153

963

350

411
1.418

255
909

18
63

..
i,

49.955 18.689

105

223

541

385
1.291

105
977

223

454

170

210

16
15

20
86

70
187
49

132

988
274

175
98
186

37
26

623
2.303

616

199
967
110

17
2

1,443

5
•

4.907

674

305

----**31*
*12**
-*71*
1287-

•

433

•

17
13

199
866
90

•

150

534

•

209

..
233-

4,799
46
117

693
48
50

20
93
14

.__..
-*2**
-*3'*''
-*3'*
-4823

•

108
391

3,674

114

334

190

5,964 22,043 18,469

903

1.071

5.508

90
691

37
174

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

corp.
and fedCorporate
erally
A other
sponsored
agencies Bonds Stocks

232

•

140
873
280

189
383
101

14
73

3
2

111

15
97

42
25
362

10.287

2.973

117

841

3,930

2,056

370

9.236

2.633

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_*

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

•

4.198

1,939

120

898

1,111

3,762

1,538

106

813

1.136

111

25
14

1,465
15,552

1,140
6,791

516

996

5,057

232
1,927

1,631

266

844
5.994

109

15.864
264

41
50

•

2
•

155

326
7,322

4
6

6,979

227

92
85

235
5,270

5,121

•

,20 4

858

5,521

576

19,127

9,255

215

16.807

55,205

33,993

2.513

-•2**
-•*..
-_*_.
--ii1.540

7,761

7,080

2.318

222

.•l-*44

25.997

19139

46,455 23,162

4•**-

•

155

377
367

49
159

745

208

175,366

78,754

7,819 11,260 41,762 28,602

19.510

174
30

541

599

996

5.694

210
2.408

118

2
*

3
9

15
67

66
48

•

2,331
2.601

1,554
2,296

5,150
7,147

796

8.441

•

-*114*

-'S**
_-•--_•**
-.*--

2,808

•

635

560

734

561

226

•

402

60S
312

40
182

144

151

237

222

917

155

106

553

7,169 158,729 60.386

8.246

9.655 37.893 34,051

8.498

21.790 17,340

2.304

;
;

15.889

2,290

247

1,346

1,284

53
52

21,176

17,188

256

140

1,298

196.545

95.942

255

130

945
247

10.114 11.517 41.902 29.900

'__

1.831
208
296

938

123

23,394 18,288

2.324

255

2,459

_jj_

7.170 182.123 78.675

10.569

-----

2,295

'__

208
326
1,070

255

...-9.911 37.948 36.510

8.511

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.

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.

FOREIGN CURRENCY POSITIONS

— Summary Positions
Nonbanking Firms' Positions
FCP-l-1.
Section

Table

[In millions of foreign currency units,

except yen, which 1s in billions]
Report

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

[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

97
FOREIGN CURRENCY POSITIONS
Section

IV.

Table FCP-IV-1.

- Japanese Yen Positions
- Nonbanking Firms' Positions

[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)

FOREIGN CURRENCY POSITIONS
Section

Table

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

(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)

101
FOREIGN CURRENCY POSITIONS
Footnotes to Tables FCP-I through FCP-VII

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.
'

) ,

Due in

year

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

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

_8/

Outstanding amounts of foreign exchange which have been contracted to be
received or delivered In the future.
Excludes spot exchange.

THROUGH VII
_9/

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.

11 /

In
year or
less;
Includes
Intracompany trade receivables.
1
Receivables and Installment paper sold or discounted before maturity are
excluded.

Due

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

assets.

liabilities.

Includes both spot and forward exchange contracts.

15 / Columns

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

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

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.

1982,

through

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

524,355

(8,776)

(8,7761

(8,081)
29,968
135,977

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

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

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)

1981

Cash and monetary reserves
Operating cash

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

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)

Buildings, structures,

and

hardware {Note
Equipment {Note 8)

Military

Construction

facilities

{Note

progress

Other

Accumulated depreciation {Note

Deferred charges and other assets
Total

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 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

goods and services

Interest

Other

Total

Expenses by function (see also summary
expenses by object and agency)

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

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

funds

of funds:

Spending on Government programs
Purchase of property and equipment
Increase

receivables

Increase

inventories

Increase

deferred charges and other assets.

Reduction

provision for loss reserves for

guarantee and insurance programs
Total

uses

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

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

consolidation.

Fiscal year

Inventories

—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.

billion

weapons stockpile since the extent of this inventory is
classified information.

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

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.

International

for fiscal 1981.

monetary reserves

This category, as of September 30, 1981, comprises the following items: $11.2 billion

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

30, 1981, total for taxes receivable

billion (net) for

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

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

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]

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

5.9

$189j

—

$26.3

$24.2

2.9

2.3

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.

liability

be reported under Public Law

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.

Social security:

electronics

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

Pension and Retirement Plans

the supplemental section (page 130).

years.

Loss reserves
programs

12.
10. Borrowing from the public

September

30, 1981, the gross

amount

preFederal debt outstanding net of unamortized
This
billion.
and discounts was $994.3

miums

amount

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

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,

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

the State-

a substantial but inde-

of Operations because
current
terminate portion is not applicable to the

ment

117
jriod.

The Statement

ish benefit

Operations does include

payments. The current noncash proviis $188.4 billion in 1981.

Dn for social security

for

these programs

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.

$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

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

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

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

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

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

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.

Financial Statements of the U.S.

This schedule

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

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

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

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

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.

and

of the

Additions to Non-Federal Economic Resources

This schedule indicates the ways
the physical and

human

resources

which the Government uses

its

resources to add to

the Nation without acquiring physical assets.

Some

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

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,

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

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

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)

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

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

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

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

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

taxpayers

$6,000-$9.999

Number

taxpayers

$10,000-$1 5,999

Number

taxpayers

$16,000-$24,999

Number

taxpayers

$25,000-$49,999

Number

taxpayers

$50,000-$99,999

Number

of taxpayers

$100,000-$999,999

Number

taxpayers

$1 million and over

Number

taxpayers

domestic credit markets
U.S credit markets (nonfinancial sectors)
funds advanced under Federal guidance (direct and guaranteed

Federal participation
Total

funds advanced

Totals

loans)

Federal participation rate

U.S

Total

funds raised

Total

funds raised under Federal guidance (includes Federal borrowing from

public,

credit

markets (nonfinancial sectors)

guaranteed borrowing, and sponsored agency borrowing)

Federal participation rate

ttie

NATIONAL BANK

REPORT

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

\_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

Ratios:
Net income, before dividends, to equity capital
Cash dividends to equity capital

_1/

Includes all banks operating as insured national banks at yearend.

11.48
5,31

TRUST FUND REPORTS

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,

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)

100 ,000
730 ,000

1
133.630.000

fund):

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

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.

S5,050

Receipts:
Excise, net of refunds.
Interest on Investments
Total receipts

Outlays

Balance Sept. 30 2/

2,300
477

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.

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.

14(a))

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.

$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

from underground mines
from surface mines 1/

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

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.

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.

$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.

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

57
44

13
43

Total receipts

Outlays

Balance Sept. 30

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

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

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.

$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

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

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

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.

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.

)

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

ance Oc t

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.

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.

$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.

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

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/

$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

Per
capita

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

WERT
BOOKBINDING
MIDDLETOWH PA

APRIL 84

Full text of Treasury Bulletin : June 1983

FRASER