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JUM 2

19B5

UNITED STATES

GOVERNMENT PRINTING OFFICE
SUPERINTENDENT OF DOCUMENTS
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OFFICIAL BUSINESS
PENAI.TY FOR PRIVATE USE,

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DEPARTMENT OF THE TREASURY
TREAS

6B3

t300

FIRST CLASS

Spring Issue

DJir
Fiscal

984

TREASURY

Office of the Secretary
Department of the Treasury
Washington, D.C.

Compiled by
Bureau of Government
Financial Operations

TREASURY

Compiled by
Bureau of Government

Office of the Secretary
Department of the Treasury
Washington, D.C.

The Treasury Bulletin Is
U.S^ Government

Financial Operations

for sale

by the Superintendent of Documents,
Washington, DC 20402

Printing Office.

©®[iQS©(raii§
SPRING ISSUEoSECOND QUARTER, FISCAL 19B4

„„^„.^,„„^
OPERATIONS

FINANCIAL

"i^^^^^^^^^^^^^^^^^^^^^^^^^^™^"^i^^^"^^^^^

Page

FEDERAL FISCAL OPERATIONS
FFO-1.
Chart

FFO-2.

Chart

Summary of ftscal operations

Budget and off-budget results

Budget receipts by source

FFO-3.

Budget receipts by source
Budget outlays by agency

FEDERAL OBLIGATIONS
FO-1.

Gross obligations incurred within and outside the Federal Government by object class

FO-2.

Gross obligations incurred outside the Federal Government by department or agency

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-i.

Interest-bearing public debt

FD-3.

Government account series

FD-4.

Interest-bearing securities issued by Government agencies

FD-5.

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

PDO-1.

PDO-2.

POO-3.

Treasury financing operations
Maturity schedule of interest-bearing marketable public debt securities other than regular weekly and 52-week
Treasury bills outstanding
Offerings of bills
Public offerings of marketable securities other than regular weekly Treasury bills

PDO-4.

Allotments by investor classes on subscriptions for public marketable securities

Article

19
21

22
24

U.S. SAVINGS BONDS AND NOTES

SBN-1.
SBN-2.
SBN-3.

Sales and redemptions by series, cumulative
Sales and redemptions by period, all series of savings bonds and notes combined
Sales and redemptions by period, series E, EE, H, and HH

28
29

OMNERSHIP 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 TIELDS 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 ong-terij^Treasury corporate, and municipal bonds by period
Average yields of long-term Treasury, corporate, and municipal bonds
1

INTERNATIONAL STATISTICS
INTERNATIONAL FINANCIAL STATISTICS
IFS-1.

U.S. reserve assets

IFS-2.

Selected U.S.

lFS-3.

lFS-4.

Nonmarketable U.S. Treasury bonds and notes issued to official Institutions and other residents of foreign countries.
Weighted average of exchange rate changes for the dollar

liabilities to foreigners

38
39

CAPITAL MOVEMENTS
LIABILITIES TO FOREIGNERS REPORTED BY BANKS

THE UNITED STATES

CM-I-1.

Total

liabilities by type of holder

CM-I-2.

Total

liabilities by type, payable in dollars

CM-I-3.

Total

liabilities by country

CM-I-4. - Total liabilities by type and country
CLAIMS ON FOREIGNERS REPORTED BY BANKS IN THE UNITED STATES
CM-II-1. - Total claims by type

CM-II-2.

Total

CM-II-3,

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

claims by country

III

SUPPLEMENTARY LIABILITIES AND CLAIMS DATA REPORTED BY BANKS
CM-III-l.

DoIUr claims

on nonbank

THE UNITED STATES

foreigners

CM-m-Z.

- 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

liabilities and claims by type

CM-IV-1.

Total

CM-IV-2.

Total

liabilities by country

CM-IV-3.

Total

liabilities by type and country

CM-IV-4.

Total

CM-IV-5.

Total

TRANSACTIONS
CM-V-1.

claims by country

claims by type and country
LONG-TERM SECURITIES BY FOREIGNERS REPORTED BY BANKS AND BROKERS

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

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

UNITED STATES

THE

CM-V-2.

CM-V-3.

Net foreign transactions

CM-V-4.

Foreign purchases and sales of long-term securities, by type and country, latest date

CM-V-b.

Foreign purchases and sales of long-term securities, by type and country, latest year

long-term domestic securities by type and country

FOREIGN CURRENCY POSITIONS
SUMMARY POSITIONS
FCP-I-I.

Nonbanking firms

positions

fCP-I-2.

- Weekly bank positions
CANADIAN DOLLAR POSITIONS

FCP-II-I.

Nonbanking firms

FCP-II-2.

Weekly bank positions

positions

GERMAN MARK POSITIONS
FCP-III-1.

Nonbanking firms' positions

FCP-III-2.

Weekly bank positions

JAPANESE YEN POSITIONS
FCP-IV-1.

Nonbanking

FCP-IV-2.

Weekly bank positions

irms

positions

SWISS FRANC POSITIONS

FCP-V-1.

Nonbanking firms

FCP-V-2.

Weekly bank positions

positions

STERLING POSITIONS
FCP-VI-1.

Nonbanking

FCP-VI-2.

Weekly bank positions

irms

positions

U.S. DOLLAR POSITIONS ABROAD

FCP-VII-I.

Nonbanking firms'

FCP-VII-2.

Weekly bank foreign office positions

foreign subsidiaries' positions

EXCHANGE STABILIZATION FUND
ESF-

nee sheet

ESF-2.

Income and expense

CASH MANAGEMENT/DEBT COLLECTION
CASH MANAGEMENT INITIATIVES

Reform '88 Cash Management

ACCOUNTS AND LOANS RECEIVABLE DUE FROM THE PUBLIC
Accounts and loans receivable by function
Chart - Accounts and loans receivable by function
Accounts and loans receivable by agency
Summary reconciliation of gross accounts and loans receivable due from the public
Summary aging schedule of gross accounts and loans receivable due from the public
Chart - Delinquent accounts and loans receivable due from the public

SPECIAL

REPORTS

NATIONAL BANK REPORT
U.S. CURRENCY AND COIN OUTSTANDING AND IN CIRCULATION

Note. --Details 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

DODDl

FEDERAL FISCAL OPERATIONS
Table FFO-1.
[In tni'lHons of dollars.

— Summary

of Fiscal Operations

Source: Monthly Treasury Statement of Receipts and Outlays of the United States Government]

Budget and off-budget results

Means of

inancing--net transactions

FEDERAL FISCAL OPERATIONS
Table FFO-2.
[In millions of dolla

- Budget

Receipts by Source

Source: Monthly Treasury Statement of Receipts and Outlays of the United States Government]

Income taxes
and contributions

Corporati
Einployment taxes and contributions

ipts

Withheld
Old-age, disability, and
hospital insurance

1979
1980
1981
1982
1983

465,955
520,056
599,272
617,766
600,562

1984 (Est.)
1985 (Est.)

672,695
753,069

1983-Mar
Apr
May
June
July
Aug
Sept
Oct
Nov
Dec
1984-Jan
Feb
Mar
Fiscal

1984 to date

195,331
223,763
256,007
267.513
266,046

56,215
63,785
77,209
85.096
83,585

33,705
43,479
47,299
54,498
60,692

217,841
244,069
285,917
298,111
288,938

n.a.
n.a.

295,988
331,896

43,504
66,234
33,755
66,517
43,948
49,683
63,556
45,156
46,200
58,041
62,544
47,886
44,464

24,808
21,636
22,205
23,641
21,437
22,519
21.060
21,720
22,550
24,482
21,070
23.523
26,877

3,613
31,969
1,137
11,134
2,163
1.969
11,596
2.022

12,764
18,564
16,958
2,003
1,662
1,228
1,695
515
861

304,291

140,223

22,000

21,751

1,011

1,948
12,728
1,505
2,785

71,448
72,380
73,733
65,991
61,780

5,771
7,780
12,596
16.784
24,768

15,658
35,040
6,384
32.773
21,938
23,259
30,961
23,227
22,700
25,577
33,881
22,190
12,895

6,985
8,445
1,903
11,680
2,562
1,816
10,477
2,824
1,827
11,558
2,985
1,892
9,441

2,612
3,650
2,205
1,724
1,706
1,433
1,430
2,356
1,360
636
1.366

140,471

30,526

65,677
64,600
61,137
49,207
37,022

21,449

taxes and contributions--Continued

Employment taxes and contributions

Railroad reti

— Con.

Unemployment insu

nt accounts

Net

283,518
308,669
347,054
347,318
325,960

118,521
136.960
161,030
178,106
183.390

117,884
136,453
160,515
177,768
182,961

20,031
39,836
6,082
42,728
22,794
23,642
40,009
23,695
23,167
36,499
35,500
22,199
20,860

17,129
18,776
15,635
17,750
13,430
15,639
16,398
14,214
13,807
15,173
19,730
16,695
16,999

17,129
18,776
15,635

161,920

96,618

17,321
13,430
15,639
16,398
14,214
13,807
15,173
19,730
16,695
16,999

FEDERAL FISCAL OPERATIONS
Table FFO-2.

- Budget

Receipts by Source-Continued

[In millions of dollars]

Excise taxes
Highway trust fund

Gross

Hiscel laneous

Refunds

Gross

insurance
taxes and
contributions

1979
1980
1981
1982
1983

141,591
160,747
182.720
201,131
208,994

1984 (Est.)
(Est.)

241,604
271,235

198i>

1983-Mar
«pr
May
June
July
Aug
Sept
Oct
Nov
Dec
1984 -Jan
Feb
Mar
Fiscal 1984 to date

17,939
21,481
22,330
17,903
15,316
20,089
17,240
16,706
16,780
16,120
21,462
19,963
17,703

107,734

7.322
6,761
6.457
6.578
8.364

7.189

Refunds

FEDERAL FISCAL OPERATIONS

FEDERAL FISCAL OPERATIONS
Table
of dollars.

Legis-

Source:

The
judiclary

FFO— 3. - Budget

Outlays by Agency

Monthly Treasury Statement of Receipts and Outlays of the United States Cover

Executive
Office

Funds
propr

of the

Agriculture Department

Conmerc
Depart-

Defense Department

President

1979
1980
1981
1982
1983

1.091

1,218
1.209
1,362
1.437

2,631
7,507
7,010
6,073
5,492

1984 (Est.)
1986 (Est.)

1,649
1,723

7.599
11.258

1983-Har
Apr
May
June
July
Aug

1984-Jan
Feb
Mar

122
110
120
118
123
130
150
121
166
188
96
121
124

Fiscal 1984 to date

806

Sept
Oct
Nov
Dec

20.636
24,555
26,030
36,213
46,392

4,072
3,104
2,226
2,045
1,925
2,136
1.989

3,084
4,626
2,503
2,787
2,429
1,644
2,637
4,445
2.766
3,988
4.266
3,561
3,032

115.013

Energy
Department

FEDERAL FISCAL OPERATIONS
Table FFO-3.

Budget Outlays by Agency-Continued
[In millions of dollars]

Undistributed
receipts
nautics
and
Space
Administration

145

Office of
Personnel
Management

1979
1980
1981
1982
1983

169
186
229
182

4,187
4,860
5.421
6,026
6,664

12,655
15,052
18,089
19,973
21,275

1984 (Est.)
1985 (Est.)

380
262

7,068
7,370

22,592
23,842

150
-194
127
194
-228
130
130
-239
156
118
-328
98
250

672
487
603

1,725
1,808
1,722
1,870
1,879
1,705
1,889
1,897
1,737
2,028

631
522

1,768
1,917

3,523

11,188

1983-Mar
Apr
May

June
July
Aug
Sept
Oct
Nov
Dec
1984-Jan
Feb
Mar
Fiscal 1984 to date

571

583
601

539
734

632
690
414

1,841

Note. --Outlays consist of disbursements less proprietary receipts
public and certain intrabudgetary transactions. Budget estimates a
on current budget estimates released Apr. 10, 1984, by the Office o
Management and Budget.

Small

Business
Administration

1,631
1,899
1,913
631

479

Veterans
Administration

19,887
21,135
22,904
23,937
24,827

Other
independent
agencies

12,327
17,811
15,354
12,290
10,263

Rents and
royalties
on the Outer
Continental
Shelf lands

-3,267
-4,101
-10,138
-6,250
-10,491

10
FEDERAL OBLIGATIONS

"Obligations" are
jasis on which the use of funds is controlled
the Federal Govern™
They are recorded at the point at which the
vernment makes a firr
mitment to acquire goods or services and are
e first of the four
events--order, delivery, payment, and conmpt1on--wh1ch characi
In
the acquisition and use of resources.
general, they consist of orders pla
received, and similar transactions requi
The

obligational stage of Government tr
point in gauging the Impact of the Governi
national econofny, since it frequently represer ts for business firms the
Government commitment which stimulates busin ss investment. Including
inventory purchases and employment of labor
Disbursements may not
occur for months after the Government places its order, but the order
It! elf usually causes Immedlat
on the private econoniy.
ified according to a uniform set of categories

Obllgatio

FO— 1. —

Table

based upon the nature of the
'Ithout regard to its ultimate
purpose.
All payments for sal
and wages,
reported
compensation, whether the perse
rent operations or In the construction of c ipital items.
Federal agencies often do business with one another; in doing so,
the "buying" agency records obligations, and the "performing" agency
records reimbursements.
In table FO-1, obligations Incurred within the
Government
distinguished
from
those
incurred
are
outside
the
Government. Table FO-2 shows only those incurred outside.

Obligation data for the administrative budget fund accounts were
first published in the September ig67 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
budget
concepts
adopted
pursuant
the
recommendations
to
of
the
President's Conmlsslon on Budget Concepts.

Gross Obligations Incurred Within and Outside the Federal Government
by Object Class, as of Dec. 31, 1983

[In millions of dollars. Source:

Standard Form 225, Report on Obligations, from agencies]
Gross obligations incurred

Personal services and benefits
Personnel compensat 1 on
Personne benef t s
Benefits for former personnel
:

23, 185

23.185
2,723
5.791

412
5,791

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

Acquisition of capital assets
Equi pment
Lands and structures
Investments and loans

833

1,059
1,485
3,453

791

2,137
190
30,757
12,728

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

19,

21,120
4,210
6,485

3.373
5,364

82,235
71,344
36,262
169

Other
Un vouchered
Undistributed U.S. obligations

198
566

Gross obligations incurred 1/

295,507

4,048
1,036
7,658

86,283
72,380
43,920

For Federal budget presentation a concept of "net obligations
incurred" Is generally used. This concept eliminates transactions
within the Government and revenue and reimbursements from the publi
which by statute may be used by Government agencies without appropriation action by the Congress.
Summary figures on this basis
follow.
(Data are on the basis of Reports on Obligations

presentation and therefore nay differ somewhat from the Budget of the U.S. Government.)
Gross obligations Incurred (as above)
334,967
Deduct:
Advances, reimbursements, other income, etc
Of f sett 1 ng recel pts
Net obligations incurred

-39,239
-34,430
261,296

FEDERAL OBLIGATIONS

Table FO-2.

by
[In

Gross Obligations Incurred Outside the Federal Government
Department or Agency, as of Dec. 31, 1983

minions of dollars.

Source:

Standard Form ??5. Report on Obligations, from agencies]

Travel and
transportation
of persons

Transportation of
things

icatlons,

and

Legislative branch \J
The judiciary
Executive Office of the President
Funds appropriated to the President:
International security assistance
International development assistance
Other
Agriculture Department:
Commodity Credit Corporation
Other
Commerce Department

Defense Department:
Military:
Department of the hr^
Department of the Navy
Department of the Air Force
Defense agencies

5.442
5,403
4.517

Total military

Civil

Education Department
Energy Department
Health and Human Services Department
Housing and Urban Development Department:
Government National Mortgage
Association
Housing for the elderly or
handicapped 2J
Other
Interior Department
Justice Department
Labor Department
State Department
Transportation Department
Treasury Department:
Interest on the public debt
Interest on refunds, etc...
General revenue sharing
Other
Environmental Protection Agency
General Services Administration
National Aeronautics and Space
Administration
Small Business Administration
Veterans Administration
Other independent agencies:
Export-Import Bank of the United States.
Tennessee Valley Authority
Other
Total

Off-budget Federal agencies VStrategic petroleum reserve account
Postal Service
Rural Electrification Administration
revo1 vi ng funds
Total off-budget Federal

agencies

See footnotes at end of table

1,216

4.102

3.260
6.329
5,566
1,173

1,671

3,822
1.417
4.052

12
FEDERAL OBLIGATIONS

- Gross

Obligations Incurred Outside the Federal Government
by Department or Agency, as of Dec. 31, 1983— Con.

-2.

[In millions of dollars]

Grants and fixed charges

Acquisition of
capita] assets
Unvouch-

Legislative branch J_/
The judiciary
Executive Office of the President
Funds appropriated to the President:
International security assistInternational development assistance
Other
Agriculture Department:
Commodity Credit Corporation
Other
Comnerce Department

•

Undistributed U.S.

1,601

•

2,228

2.081
6,111
10,053
158

220
305
253
42

18,403

820

Defense Department;
Mi litary:

Department of the Army
Department of the Navy
Department of the Air Force
Defense agencies
Total military

Civil

Education Department
Energy Department
Health and Human Services Department...
Housing and Urban Development Dept.:
Government National Mortgage
Association
Housing for the elderly or
handicapped 2^/
Other
Interior Department
Justice Department
Labor Department
State Department
Transportation Department
Treasury Department:
Interest on the public debt
Interest on refunds, etc
General revenue sharing
Other
Environmental Protection Agency
General Services Administration
National Aeronautics and Space
Administration
Small Business Administration
Veterans Administration
Other independent agencies:
Export-Import Bank of the U.S
Tennessee Valley Authority
Other
Total

Off-budget Federal agencies 3/:
Strategic petroleum reserve account..
Postal Service
Rural Electrification Administration revolving funds
off-budget Federal
agencies

13,549
24.031
22,524
10,559

5
*

308
-

446

1,211

15,746

...
-

•

169
291

133
25

13
16
1

2,471

3,067
9.346
18,210

720

...
...
...
1

•

239

332

115

147
18

151

19,172

3,373

5,364

163

198

163

198

31,396
421

2,045

Total

Less than $500,000.
1/ Includes reports for Library of Congress, Government Printing Offi
and General Accounting Office only.
2_f This fund was reclassified from an off-budget to a budgetary accou
pursuant to an act approved Oct. 4, 1977.

Postal Service since July 1, 1973, Rural Electrification Administration
revolving funds since May 12, 1973, and strategic petroleum reserve

—

Note.
Agency shifts
of such shifts.
The a'
that time.

unts for the complete

13
ACCOUNT OF THE

U.S.

TREASURY

Source and Availability of the Balance 1n the Account of the U.S. Treasury
The

operating

cas

Deposits

14
FEDERAL DEBT
Table FD-1.

- Summary

of Federal

Debt

Source: Monthly Treasury Statement of Receipts and Outlays of the United State

Securities held by:

Amount outstanding

Government accounts

End of
fiscai year
or month

1979
1980
1981
1982
1983

1983-Mar
Apr
May

June
July
Aug
Sept
Oct
Nov
Dec
1984-Jan
Feb
Mar

Agency
securities

833,751
914,317
1,003,941
1,146,987
1,381,886

826,519
907,701
997,865
1,142,035
1.377,211

7,232
6,616
6,086
4,952
4,675

189,162
199,212
209,507
217,640
240.116

187,683
197,743
208,056
216,404
239,023

1,478
1,469
1,450
1,236
1,092

644,589
715.105
794,434
929.346
1.141.770

638,836
709,958
789,799
925,631
1.138,188

5,754
5,147
4,636
3,716
3.582

1.249.312
1,252.706
1.296,125
1.324.318
1,331,595
1,353,072
1,381,886
1,389,236
1,393,816
1.415.343
1,441,993
1.462,127
1,468,303

1,244,493
1,247,920
1,291,362
1.319,581
1,326,881
1,348,374
1,377,211
1,384,570
1,389.162
1,410,702
1,437,383
1,457,544
1,463.741

4,819
4,786
4.763
4,737
4.715
4,698
4.675
4,666
4,654
4,641
4,610
4,582
4,563

202,280
202,992
227.914
230,388
225,789
226.744
240,116
236,734
231,369
237,395
240,358
242,320
240,927

201,155
201,868
226.794
229,290
224,694
225.649
239,023
234,642
230,427
236,277
239,271
241,233
239,843

1.125
1.124
1.120
1,098
1,095
1.095
1,092
1,092
942
1,118
1,087
1.087
1,086

1.047.033
1.049.714
1.068.211
1,093,930
1,105,806
1.126.328
1,141.770
1,153,502
1,162,448
1,177,948
1,201,634
1.219,806
1,227,376

1.043.339
1.046.052
1.064.568
1.090,291
1,102,187
1,122,725
1.138,188
1,149,928
1,158,735
1,174,425
1,198.112
1,216,311
1,223,898

3.694
3.662
3.643
3,639
3,620
3,603
3,582
3,574
3.712
3,523
3.523
3,495
3,478

Total

Table
[In millions of dollars.

End of

The publ ic

Public
debt
securities

FD-2.

Public
debt
securities

Total

Interest-Bearing

Public

Agency
securities

Total

Debt

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

Public
debt
securities

Agency
securities

15
FEDERAL DEBT
Table
IHons

of doll- rs.

FD— 3. — Government Account
Federal

End of
fiscal year
or month

Airport and
airway
trust fund

Series

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

16
FEDERAL DEBT
Table FD-4.

Interest-Bearing Securities Issued by

Government Agencies

Source: Monthly Treasury Statement of Receipts and Outlays
[In millions of dollars.
of the United States Government and Bureau of Government Financial Operations]

End of
fiscal year
or month

Defense
Department
Total

outstanding

Family housing
and homeowners
assistance

Housing

FEDERAL DEBT
Table

FD— 5. —

Maturity Distribution and Average Length of Marketable Interest-Bearing Public Debt Held by Private Investors
[In millions of dollars.

Office of Government Finance and Market Analysis

Source:

1981
1982
1983

1983-Mar..
Apr..
May..
June.
July.
Aug..
Sept.
Oct..
Nov..

Dec
1984 -Jan..

the Office of tne Secretary]

10-20
years

Within
1 year

1979
1980

1fi

380,530
463,717
649,863
682.043
862,631

181,883
220,084
256,187
314,436
379,579

127,574
156,244
182,237
221,783
294,956

32,279
38,809
48,743
75,749
99,174

18,489
25,901
32,569
33,017
40,826

20,304
22,679
30,127
37,058
48,097

795,087
789,629
810,150
831,309
835,893
867,935
862,631
883,287
888,932
893,991
925,683
953,274
942,372

367,383
360,536
363,465
373.669
375,845
380.424
379,579
384,406
383,761
394,088
399,857
418,060
413,070

262,985
259,420
276,825
282,444
279,730
294,000
294,955
303,810
309,516
298,262
317,869
323.620
311,574

87.013
88.958
85.314
90,979
92,420
93,974
99,174
101,941
99,893
106,043

36,837
36,797
39,975
39,949
39,860
41,086
40,826
41,073
43,082
43,068
46,806
43,882
43,868

40,869
43,918

44,571

4 yrs.
4 yrs.

Table FD-6.
[In millions of dollars.

Debt Subject
e:

108,471
110,595
116,643

Statutory Limitation

Monthly Statement of the Public Debt of the United State

Interest-bear
End of
fiscal ye
or month

44,268
48,048
48,451
48,097
52,057
62,680
52,540
52,680
57,217
57,217

Public debt

Other debt

3yrs.

yrs.

mos.
mos.
mos.

4 yrs.

yrs.
4 yrs.
3

yrs.
yrs.

yrs.

10 mos.
11 mos
1

mos
mos.
mo.
1 mo.
1 mo.
3 mos.
3 mos.
3 mos.
3 mos.
1

4
4
4

yrs.
yrs.
yrs.

18
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]

Agriculture Department
End of
fiscal year
or month

Cormodity

19
TREASURY FINANCING OPERATIONS, JANUARY-MARCH 1984

of 2-»ear Notes
sury
unced that it would
Or January 18 the Tr
,250 milli
2-year notes to refund $5,648
ng January 31, 19
offered were Treasury Notes
and to raise $2,600 million new c
luary 31, 1986, with interest
of Series g-1986, dated January 31
payable on July 31 and January 31
until maturity.
An interest
lination as to which tenders
rate of lO-b/8 percent was set a
bas
were accepted on a yield
of

Tenders for the notes were received until 1:30 p.m. EST, January 25, and
totaled $19,449 million, of which $8,275 million was accepted at yields
ranging from 10.64 percent, price 99.974, up to 10.67 percent, price 99.921.
Nonconpetiti ve tenders were accepted in full at the average yield of accepted
10.66 percent,
price 99.938.
These totaled
tenders,
$1,563 million.
Conpetitive tenders accepted from private investors totaled $6,722 million.
In

addition

20
TREASURY FINANCING OPERATIONS, JANUARY MARCH 1984

Auction of 2-Year Notes
On March 14 the Treasury annou need that it would auction $8,250 mi 1 1 i
of 2-year notes to refund $5,600 roil lion of publicly held notes maturing Mar
31, 1984, and to raise about $2,760 million new cash.
The notes offered we
Treasury Notes of Series S-1986, dated Ap
1984, due March 31, 1986, wi
,
Interest payable semiannually on Septembe
and March 31 until maturity.
Interest rate of 11-1/2 percent was set
r the determination as to whi
tenders were accepted on a yield auction

Tenders for the notes
totaled $15,702 million, o
ranging from 11.52 percent.
Nonconpetitive tenders were
tenders.
11.55 percent,
f
Coitpetitive tenders accepted

received until 1:30 p.m. EST. March 21. and
which $8,252 million was accepted at yields
99.966, up to 11.58 percent, price 99.861.
cepted in full at the average yield of accepted
99.913.
These totaled
$1,393 million.
fri
stors totaled $6,869 mi

and international monet
accepted at the average pr
banks for their own account

ign
e

An interest rate of 12-3/8 perci It was set on the notes of Series E-1991
after the determination as to which enders were accepted on a yield auction
basis.
The notes of Series E-1991
ere dated April 4. 1984, due April 15,
1991, with interest payable semiann ally on October 15 and April 15 until
maturity.

-Ice

1 1

In addition to the $8,252 mi
process. $146 million of tenders
Federal
Reserve banks as agents
authorities, and $800 million of t
from Governtnent accounts and Feder
exchange for maturing securities.

Auctions of 4-Year Notes, 7-Ye

Federal Reserve banks as agents for
authorities, and $697 million of tenders
from Government accounts and Federal Res
exchange for maturing securities.

Note

monetary

accepted at the
banks for their

and 20-Year

age price

Tenders for the notes of Series E-1991 were received until 1 p.m. EST,
March 28. and totaled $12,348 million, of which $5,262 million was accepted at
yields ranging from 12.40 percent, price 99.863, up to 12.42 percent, price
99.771.
Noncompetitive tenders were accepted in full at the average yield of
accepted tenders, 12.41 percent, price 99.817.
These totaled $519 million.
Competitive tenders accepted from private investors totaled $4,743 million.
In addition to the $5,262 million of tenders accepted in the auction
process, $100 million of tenders were accepted at the average price from
Federal
Reserve banks as agents for foreign and international monetary
authorities.

An Interest rate of 12-3/8 percent was set on the bonds of 2004 after the
determination as to which tenders were accepted on a yield auction basis. The
bonds of 2004 were dated April 5, 1984. due May 16. 2004, with Interest
payable semiannually on November 15 and May 15 until maturity.

-Month Bonds

On March 20 the Treasury
unced that it would sell to the public at
auction, under conpetitive and noncompetitive bidding, up to $6,000 million of
4-year notes of Series L-1988, $5,260 million of 7-year notes of Series E1991, and $3,760 million of 20-year 1-month bonds of 2004 to refund $2,236
million of publicly held Treasury securities maturing March 31, and to raise
about $12,776 million new cash.
An interest rate of 12 percent was set on the notes of Series L-1988
after the determination as to which tenders were accepted on a yield auction
basis.
The notes of Series L-1988 were dated April 2, 1984, due March 31,
1988, with Interest payable semiannually on September 30 and March 31 until
maturity.

Tenders for the notes of Series L-1988 were received until 1 p.m. EST,
March 27, and totaled $16,857 million, of which $6,024 million was accepted at
yields ranging from 12.06 percent, price 99.814. up to 12.08 percent, price
99.762.
Noncompetitive tenders were accepted In full at the average yield of
accepted tenders, 12.07 percent, price 99.783.
These totaled $804 million.
Conpetitive tenders accepted from private investors totaled $6,220 million.
the

auction

Tenders for the bonds of 2004 were received until 1 p.m. EST. March 29.
and totaled $7,070 million, of which $3,752 million was accepted at yields
ranging from 12.34 percent, price 100.180. up to 12.60 percent, price
99.008.
Nonconpetitive tenders were accepted in full at the average yield of
accepted tenders. 12.39 percent, price 99.811.
These totaled $246 million.
Conpetitive tenders accepted from private investors totaled $3,507 million.

62-Week

Bi lis

On March 9 tenders were invited for approximately $8,260 million of 364day Treasury bills to be dated March 22, 1984. and to mature March 21. 1985.
The issue was to refund $7,774 million of 364-day bills maturing March 22 and
Tenders were opened on March 15.
to raise about $476 million new cash.
They
totaled $21,723 million, of which $8,268 million was accepted, including $688
million of noncompetitive tenders from the public and $2,345 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 9.68 percent.

PUBLIC
Table

1984

PDO-1.

DEBT OPERATIONS

Maturity Schedule of interest Bearing Marketable Public Debt Securities Other than Regular
Weekly and 52-Week Treasury Bills Outstanding, Mar. 31, 1984

PUBLIC DEBT OPERATIONS
Table
[Dollar amounts in milUons.

PDO-2. -

Offerings of Bills

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

Description of new issue
Number of
days to
maturity \J

Amounts of bids accepted
Amount of
bids

tendered

23
PUBLIC DEBT OPERATIONS
Table PDO-2.

Offerings of Bills-Continued

24
PUBLIC DEBT OPERATIONS

25
PUBLIC DEBT OPERATIONS
Table PDO-3.

Public Offerings of Marketable Securities Other than Regular Weekly Treasury Bills-Continued
[Dollar amounts in mill ions ]

Date subscrip-

PUBLIC DEBT OPERATIONS
,

Table

PDO-4. - Allotments

by Investor Classes on Subscriptions for Public Marketable Securities
Part

[In millions of dollars.

Source:

Other than

Bills

Subscription and allotment reports]

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 in millions.
Total amount

Source:

Subscription and a1]otment reports]

Allotments by investor classes
Commercial
banks

Corpo-

28
U.S.

SAVINGS BONDS AND NOTES

Series EE bonds, on sale since Jan. 1, 1980, are the only savings
Series HH bonds are issued in exchange for series
bonds currently sold.
Series A-D were sold from
E
and EE savings bonds and savings notes.
Series E was on sale from May 1,
Mar. 1, 1935, through Apr. 30, 1941.
1979 (through June 1980 to payroll savers
1941, through Dec.
31,
Series F and G were sold from May 1, 1941. through Apr. 30,
only).
1952.
Series H was sold from June 1, 1952, through Dec. 31, 1979.
Series HH bonds were sold for cash from Jan. 1, 1980, through Oct. 31,
1982. Series J and K were sold from May 1, 1962, 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 redemption 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, 1984

Source: Monthly Statement of the Public Debt of the
United States; Marlcet Analysis Section, United States Savings Bonds Division]

[In millions of dollars.

Amount outstandi

Matured
non-interestbearing debt

Interestbearing debt

Savings bonds:
Series A-D 2/
Series E, il. H, and HH.
Series F and G
Series J and K
Savings notes

5,002
237,845
29,516
3,753

5,003
309,834
29,521
3,754
1,230

1,054
80,949
1,125

3,949
228,886
28,396
3,566
862

changes of series

bonds beginning J

Sales and redemption figures include exchange of minor amounts of
(1) matured series E bonds for series G and K bonds from May 1951
through April 1957; (2) series F and J bonds for series H bonds
beginning January 1960; and (3) U.S. savings notes for series H

E bonds for
s H
2/ Details by series o
bined wi 1 1 be found
:

Treasury Bulletin.

Table SBN-2.

Sales and Redemptions by Period,
[In millions of dollars.

Sou

United States; Market Analys

Accrued

All

Series of Savings

Bonds and Notes Combined

Monthly Statement of the Public Debt of the
Section, United States Savings Bonds Division]

29
U.S.

Table SBN-3.

SAVINGS BONOS AND NOTES

Sales and Redemptions by Period, Series

EE, H, and

[In millions of dollars.
Source: Monthly Statement of the Public Debt of the
United States^ Martet Analysis Section, United States Savings Bonds Division]

Redenpti

Sales

Accrued

Exchange of
E bonds for
H and HH bonds

Sales plus
accrued
discount

Amount outstanding
Interestbearing debt

Series E and EE

68,690
4,922
5,033

69,875
4,941
5,126

277,805
8.123
9,052

208,560
8,096
5,622

169,022
4,796
3,347

39.539
3,299
2,276

60,923
60,048
62,460

210,478
7,465
5,420

170,158
4,435
3,194

40,320
3,030
2,226

60,105
60,392
62,882

60,814
61,083
61,445
61,639
61,945
62,203
62,460
62,775
63,042
62,882
63,118
63,343
63,645
Series H and HH

7,367
7,485
7,829

7,371
7,588
7,851

7,688
7,710
7,737
7,764
7,786
7,809
7,829
7,842
7,843
7,851
7,860
7,902
7,926

Note. --Series E and EE include U.S. savings notes (Freedom Shares)
on sale from May 1, 1967, through June 1970 to E bond buyers.

Matured
non-interestbearing debt

OWNERSHIP OF FEDERAL SECURITIES

30
Table OFS-1.

Distribution of Federal Securities by Class of Investors and Type of Issues
[In ml llions of dollars]

Interest -bearing public debt securities

Nonmarketable

1979
1980
1981
1982
1983

1983-Har..
Apr..
Itay..

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

Dec.
1984 -Jan..

833,751
914,317
1,003,942
1,146,987
1,381,886

819,007
906,402
996,495
1,140.883
1,375,751

187,683
197,743
208,076
216,404
239.023

11,379
10,078
9,016
7,944
5.887

1,249.312
1,252,706
1.296.125
1,324,318
1,331,595
1,353,072
1,381.886
1,389,236
1,393,816
1,415,343
1,441.993
1,462.127
1,468,303

1,242.993
1,242,067
1,289,897
1,318,111
1,320,671
1,346,915
1,375,751
1,383,265
1,387.860
1,400,906
1.435.612
1.455,761
1,452,099

201,155
201,868
226,794
229.291
224,694
225,649
239,023
234,642
230,431
236,277
239,271
241,233
239,843

5,890
5,977
5,971
5,904
5,728
5,901
5,887
5,901
5,840
6,078
5,927
5,952
5.922

1/176,304

MARKET BID YIELDS ON TREASURY SECURITIES
Table

MBY-1. - Treasury Market

Monthly average
i983-Apr
May

June
July
Aug
Sept
Oct
Nov
Dec

1984-Jan
Feb
Mar

8.52%
8.50
9.14
9.44
9.72
9.35
8.97
9.11
9.35
9.26
9.45
9.88

End of month

1983-Apr
May

June
July
Aug
Sept
Oct
Nov
Dec

1984-Jan
Feb
Mar

8.38
8.96
9.14
9.59
9.64
9.05
8.83
9.24
9.32
9.25
9.49
10.09

8.80%

Bid Yields at Constant Maturities,

Bills,

Notes, and Bonds*

MARKET BID YIELDS ON TREASURY SECURITIES, MAR.

o
CM

30,

1984
in

33
AVERAGE YIELDS OF LONG-TERM BONDS
Table AY-1.

- Average

Yields of Long-Term Treasury, Corporate, and Municipal

Bonds

34
AVERAGE YIELDS OF LONG-TERM BONDS

Doi]t5(i[f miiftDoraiiD

@fti3ftO§ftD©!

37
INTERNATIONAL FINANCIAL STATISTICS

The tables in this section are designed to provide data
U.S. reserve assets and liabiiities and other statistics
related to the U.S. balance of payments and international
financial position.

s
i

Table IFS-3 sho
issued to offi
gn countries.

Table IFS-4 pre
xchange rates be
ai n other count r

Table IFS-1 shows the reserve assets of the United States,
including its gold stock, special drawing rights held in the
Special Drawing Account in the International Monetary Fund,
holdings of convertible foreign currencies, and reserve position in the International Monetary Fund.

Table IFS-2 brings together statistics on liabilities to
foreign official institutions, 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]

Reserve

Gold stock

posi

End of calenda

assets

26,756

198U
1981
1982
1983

1983-Apr.
May.
June.
July.
Aug..
Sept.
Dct..
.

Nov.

Dec.
1984-Jan.
Feb.

Mar.
Apr..

Total

Treasury

rights

±1

Foreign
currencies

on in

International
Monetary Fund

b_l

38
INTERNATIONAL FINANCIAL STATISTICS
Table IFS-2.

Selected U.S. Liabilities to Foreigners
[In mi

lions of dol lars]

Habllities to foreign countrle
Official

Total
(1)

Total

Liabilities to

institutions 1/

MarketOther
Liabili- able U.S. Nonmarket- readily
marketties
Treasury able U.S.
Treasury
able
Liabil
reported bonds
liabili- ties t
by banks and
bonds and
ties 3/
banks 4/
in U.S.
notes 2/
notes

Total

U.S.

39
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]

14.6
16.0

1973
1974
1976
1976
1977
1978
1979
1980
1981
1982
1983

1983-Apr
May
June
July
Aug
Sept
Oct
Nov
Dec
1984 -Jan
Feb
Mar. p
Apr. P

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
Calculations are provided for two sets of countries that account
change.
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
The calculations do not purport to represent
of factors other than trade.
a guide to measuring the Impact of exchange rate changes on U.S.
International transactions.

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.

The equations used are as follows:

Equation one Is used to calculate a trade-weighted average of changes In
the dollar cost of foreign currencies:
(EQl)

E„ = I(4$/fCi

Where:

•

M^/IM)

E„ 1s the weighted average of percentage
changes in the dollar cost of individual
foreign currencies;

A$/fc, 1s the percent change in the dollar
cost of foreign currency i; and
M.
a

/EM Is U.S. Imports from country 1, as
proportion of total U.S. imports from
countries in the set.

all

40
CAPITAL

MOVEMENTS

Data relating to capital movements between the United State
countries have been collected 1n some form since 1935.
Reports a
district Federal Reserve banks by banks, bank holding companle:
brokers and dealers, and nonbanking enterprises in the United Sta
tics on the principal types of data by country or geographical
consolidated and are published in the Treasury Bulletin.

The reporting forms and Instn
Treasury Interna1/ used 1n
tlonal Capital {TIC) Reporting Systi
en revised a number of times to
meet changing conditions and to Increase t le usefulness of the published
statistics.
The most recent, general revl; Ion 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 oth^ r Government agencies and the
Federal Reserve System and In consultations with representatives of banks.
securities firms, and nonbanking enterprises.

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
affiliates
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 1n 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

CAPITAL MOVEMENTS
Section

Liabilities to

Table

Foreigners Reported by Banks

CM-l-1. -

the United States

Total Liabilities by Type of Holder

[In millions of dollars]

regional

Foreign countries
Official

institutions

Total

calendar year

liabili-

or month

ties
(1)

1980
1981
1982
1983

1983-Mar. r
Apr. r
May r
June r
July r
Aug. r
Sept. r
Oct. r
Nov. r
Dec. r
1984-Jan
Feb.
Mar.

p
p

Payable
in

foreign
curren-

Total

dollars

ciesl/

(2)

(3)

209,045
247,412
311,900
374,431

86.624
79,126
71,647
79,764

86,624
79,126
71,647
79,764

323,308
314.106
322.599
327.889
332,840
340,581
344.002
344.093
357,358
374,431
363.691
373,707
381,662

70,928
71.213
72.574
72.445
74,864
73,426
72.299
73.675
76.374
79,764
78,095
79,234
76,867

70,928
71,213
72.574
72,445
74,864
73,426
72,299
73,675
75.374
79,764
78,095
79,234
76,867

(4)

Includes Bank for International Settlements.
7/ Principally the International Bank for Reconstruc
Development and the Inter-American Development B<
1/

Total liabilities
to all foreigners
reported by IBF's 4/

Banks and other foreigners

Payable
in

foreign
curren-

Total

dollars

ciesl/

(5)

(6)

120,043

116,329

(7)

3,714

Payable

Payable
End of

foreign
curren-

Payable

foreign
curren-

Total

dollars

ciesV

dollars

cies2/

(8)

(9)

(10)

(11)

Payable

2,378

2,344

(12)

CAPITAL MOVEMENTS
Table

CM-l-2. -

Total Liabilities by Type, Payable in Dollars

Part A

Foreign Countries

[In mil lions of dol lars]

43
CAPITAL
Table

CM-l-3. -

MOVEMENTS

Total Liabilities by Country

Position at end of period in millions of dollars]

Bu1ga

German Democratic Republi
Hungary
)

rtugai

Spain
Sweden
Switzerland
rkey
ited Kingdom.

Othe

British Ue
Chile
Ecua

Othe

and Ca

Hong Kong.

Syr

Africa:
Egypt

outh Afr

Middle
Total

3S5

404

936
1,549
18,913
526
28,719

1.418
1,392
29,355
297
49,094

86
388
160
1,613
1,806
32,566
475

388
160

61,878

320
149
1,538
1,654
30,998
319
59,633

1,613
1,806
32,566
475
61,878

CAPITAL

MOVEMENTS

Total Liabilities by Type and Country, as of Mar. 31,
[PosUion in millions or dollars]

1984, Preliminary

To foreign official

Total Payable

Payable

dollars

foreign

unaffiliated foreign

Demand

Time 2/

Tr.

foreigner
(IS)

(g)

(1)

Europe:

872
Austria
3,901
Belgium Luxembourg
18
Bulgaria
22
Czechoslovakia
307
Denmark
288
Finland
France
11,074
107
German Democratic Republic
5,175
Germany
505
Greece
119
Hungary
Italy
7,586
Netherlands
4.695
Norway
1,295
63
Poland
418
Portugal
141
Romania
1,770
Spain
1,841
Sweden
32,714
Switzerland
343
Turkey
65.847
Onited Kingdom
177
U.S.S.R

3.365
18

22
285
287
10.713
107
4.863
503
119
7,395
4,423
1,285

1,759
1,835
32,266
335
64.627
177

Total Latin America
and Caribbean

10,563
4.928
5.640
1,159
244
1.420
8.675

4,365
58,161
2,903
3,725
32.353
1,876
1,656
20
825
815
596
10,215
4,895
5,608
1.157
233
1.418
8,565

3,744

3,739

20
825
816
597

145,177 143,127

Asia:
China:

Mainland
Taiwan

Hongkong
India
Indonesia
Israel

Japan
Korea
Lebanon
Malaysia
Pakistan
Philippines
Singapore
Syria
Thailand
Other Asia
Total Asia

Africa:
Egypt
Ghana
Liberia
Morocco
South Africa
Zaire
Other Africa

273

4,166
6,493
695
758
860
19,435
1,754
254
519
324
1.274
7,754

272
4,165
6,402
686
758
830
19,018
1,748
252
519
324
1.259
7.751

716

41
714

12.849

12.770

58,165

57,510

548
24
277
122
542
77

24
277
122

538
77

1,514

Total Africa

Other countries:
Australia
All other
Total other countri
Total

foreign count

International and regional:
International
European regional
Latin American regional...
Asian regional
African regional
Middle Eastern regional...
Total international
and regional

Grand total

6,441
157
536
195
18
6

6,352

4.627

553

104
3.167

1.696

49
429

Canada

4.374
58,406
3,155
3,733
33,331
1,876
1,670

6.086

•

312

141

145,365

Latin America and Caribbean:
Argentina
Bahamas
Bermida
Brazil
British West Indies
Chile
Colombia
Cuba
Ecuador
Guatemala
Jamaica
Mexico
Netherlands
Panama
Peru
Trinidad and Tobago
Uruguay
Venezuela
Other Latin America
and Caribbean

361

403

5,628

Other Europe
Total Europe

861

5,426
157
451
195
18
6^

6,253

381.662 376.457

1.942

4,376

1.351

2.204

CAPITAL MOVEMENTS
Section

II.

- Claims

on Foreigners Reported by Banks

Table CM-ll-1.

the United States

Total Claims by Type

[Position at end of period in millions of dollars]

Type of claim
Total

claims

Payable in dollars
Banks' own claims on foreigners...
Foreign public borrowers
Unafft iated foreign banks:
Deposits
Other
Own foreign offices
All other foreigners

293,508

366.253

287,557

359,438

251,589
31,260

318,430
40,138

23,381
51,322
96,653
48,972

38,144
65,854
115,826
58,469

35,968
1,378

41,007
1,174

26,352
8,238

32,513
7,320

5,951
4,980

6,816
5,895

Claims of banks' domestic
customers
Deposits
Negotiable and readi ly
transferable instruments
Collections and other

Payable in foreign currencies
Banks' own claims on foreigners...
Claims of banks' domestic
customers
Memoranda:
Claims reported by IBfsU
Payable in dollars
Payable in foreign currencies

Customer liability on acceptances
Claims with remaining
maturity of 1 year or less:
On foreign public borrowers
On al
other unaffi Hated
foreigners

971

921

63,402
62,171
1,231

118,739
115,758
2,981

29,952

33,307

15,671

20,043

101,068

133,521

15,589

20,095

22,608

28,945

Claims with remaining
maturity of more than 1 year:
On foreign public borrowers
On al
other unaffi Hated
foreigners
1

Establishment of International Banking Facilities (IBF's) per
beginning December 1981.

387

CAPITAL
Table CM-ll-2.

Europe:

Austria
Belgium-Luxembourg
Bulgaria
Czechoslovakia
Denmark
Finland
France
German Democratic Republic
.'
.'

Greece..'.'.'.'.'.'.'

Hungary
Italy

Netherlands
Norway
Poland
Portugal
Romania
Spain
Sweden
Switzerland
Turkey
Uni ted kingdom
U.S.S.R
Jugoslavia
Other Europe
Total

Europe

Canada
Latin America and Caribbean:

Argentina
Bahamas
Bermuda
Brazi

British Mest 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

Asia:
China:

Mainland
Taiwan
"ohg Kong
India
Indonesia
Israel
Japan
Korea
Lebanon
Malaysi a
Pakistan
Philippines

Singapore
Syria
Thailand
Oil-exporting countries
Other Asia

Total Asia

Africa:
Egypt
Ghana
Liberia

Morocco
South Africa
Zaire
Oi 1-exporting countries
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

206

MOVEMENTS
Total Claims by Country

CAPITAL
-11-3.

MOVEMENTS

Total Claims on Foreigners by Type and Country Reported by
Banks in the United States, as of Dec. 31, 1983

Payable
dol lars

1,333
1,292
10,157

3,621
3,387
2,011

118,797

48
CAPITAL MOVEMENTS
Section

III.

- Supplementary

Liabilities

and Claims Data Reported by Banks

CM-MI— 1. - Dollar Claims on Nonbank Foreigners
[Position at end of pe r iod In millions of dollars]

Table

1980
1981
1982
19B3

1983-Feb.
Mar.
Apr.
May r
June
July
Aug.
Sept.

1984-Jan.

the United States

49
CAPITAL
Table CM-III— 2.
in

—

MOVEMENTS

Dollar Liabilities to, and

Dollar Claims on, Foreigners

Countries and Areas Not Regularly Reported Separately
[Position at end of period in millions of dollars]
Total

0th

liabilitl

Total

banks'

Eur

Cyprus
Iceland
Ireland
Monaco

Other Latin America and Caribbea
Barbados
Belize
Bol

via

Dominican Republic
El Salvador
French West Indies and
French Guiana

243
216
340
275

200
233
544
302

Haiti

Honduras
Nicaragua
Paraguay
Suriname

101

170
126
100

293
135
108

270
364
531
431

427
643
513

119
357
183
305

408
146
265

313
257
355
117

203
324
545

211
345
605

244

440
525
126

189
204
122

137
159
140

147

120
208

Other Asia:

Afghanistan
Bangladesh
Brunei
Burma
Jordan
Kampuchea (formerly Cambodia).
Macao
Nepal
Sri Lanka
Vietnam
Yemen (Aden)
Yemen (Sana)

110
126
8

129

Other Africa:
Angola
Burundi
Cameroon
Ethiopia, including Eritrea...
Guinea
Ivory Coast
Kenya

Madagascar
Mauritania
Mauritius
Mozambique
Niger
Rwanda
Sudan
Tanzania
Tunisia
Uganda
Zambia
other:
New Hebrides
New Zealand
Papua New Guinea
U.S. Trust Territory of
the Pacific Islands

All

e.--Data represent a partial breakdown
orresponding dates for the "Other" geo
egular monthly series In the Treasury

50
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
[Position at end of period in millions of dollars]

iabi

ty
17

Payable n dol lars
Fi nancial
Commercial
Trade payables
Advance receipts and othe
i

Payabl

Trade payables.
Advance receipts

Payable in dollars.
Financial:
Deposits
Other
Commerci a
Trade receivables
Advance payments
.

Payable in foreign cu
Fi

nanci al

Deposits
Other
Commercial:
payments and other

the United States

CAPITAL
Table

CM-IV-2. -

MOVEMENTS

Total Liabilities by Country

[Posttion at end of period in mllHons of dollars]

Calendar year
1979

1980

Europe:
Austria.

Hungary.
Italy...
Poland.

409

1982
1981

52
CAPITAL
Table

CM-IV-3. -

MOVEMENTS

Total Liabilities by Type and Country, as of Dec. 31, 1983, Prelinninary
[Posttton at end of period In mtlllons of dollars]
Financial

liabilities
1

iabi

Payable
in foreign

Europe.-

Austr
Belgi

Bulga
Finland
France
German Democratic Republi

820

710

110

436

505

317

188

436

S12
856
137

105

8.838

Hong Kong.
India
Indonesia.

Malaysia

African regional
Middle Eastern regiona
Total

international

than $500,000.

CAPITAL MOVEMENTS
Table

CM-IV-4. -

Total Claims by Country

[Position at end of period in mHlions of dollar

Austria
Belgi um-Luxerabourg
Bui garia

Czechoslovak!

Denmarlc

Finland
France
German Democratic Repub
Germany
Greece
Hungary

534

Italy

Netherlands
Norway
Poland
Portugal
Komania
Spain
Sweden
Switzerland
Turkey
United Kingdom
U.S.S.R
Jugoslavia
Other Europe

424
208
407

Total Europe

Canada
Latin America and Caribbe,

Argentina
Bahamas
Bermuda
Srazi

British West Indies
Chi le

Colombia
Cuba

Ecuador
Guatemala
Jamaica
Mexico
Netherlands Anti lies.
Panama
Peru
Trinidad and Tobago
Uruguay
Venezuela
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
Thailand
Oi 1-exporting countries
Other Asia
Total Asia

Africa:
Egypt
Ghana
Liberia

Morocco
South Africa
Zaire
Oil-exporting countries
Other Africa
Total

Africa

Other countries:
Australia
Al
other
1

Total

other countries..

213
318
1,311
404

CAPITAL
Table

CM-IV-5. -

MOVEMENTS

Total Claims by

[Position at end of

Type and Country, as of Dec. 31, 1983
period In mniions of dollars]

Austr
Belgl

epubll

Italy.

Poland
Portugal

30
69
14
33
35

3
-

295

6,570

5,768

5,614

154

802

38
61
85

•

273

252

60
176
167
65
143

333

Yugoslavia
Other Europe

240

19
33
38

258

290
545

3.516

Colon

riands

232

Tota

Mainland
Taiwan
Hong Kong
India
Indonesia
Israel
Japan

60
179
183
65
174
320

1,338

Phi llppi

ngapor
Syria...
SI

Egypt

outh Afr
369

Total Afr

eglonal:

Middle

than $600,000.

9
-

•

219
246

219
159

101

1.091

55
CAPITAL MOVEIVIENTS
Section

mini

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

ns of dollars;

negative figures

ndicate net sale s by foreigners or

Marketable Treasury bonds and notes
Net

ne t outflow of capital

U.S. Gov't corporations
and federal ly sponsored

foreign purchases

from the United States ]

Corporate and othe

agencies

Foreign countri

Offi-

Gross
foreign Gross
purforeign
chases
sales

Other
forinstitutions eigner
cial

Total
(1)

(2)

(3)

4.898
15,054
17.319

3.865
11,730
14.550

5,454
802
19e4-Jan-Mar.p

806
1,006

1980
1981
1982
1983

19a3-Mar.r
Apr.r
Hay..

June
July
Aug.r
Sept.
Oct.r

2,607
-1.141
2,630
1,558
-1,674
-1,377
1,116
2,367
-1,422
-576
726
579
-503

407
-895
-928
-45
510
-773
-401
539

Table

1984-Jan-Ma
1983-Mar.r.
Apr.r.
May...
June..
July..
Aug.r.
Sept.r
Oct.r.
Nov...
Dec...
1984-Jan. ..
Feb. p.

1,655
-2.167
1.715
1.021
-966
-524
1.230

553
190

732
-807
-728

12.569
6.871
13.981
10.172
6.431
12.784
13.731
15.164
11.111
7.315
15.186
12.974
7.942

9.962
8.012
11,352
8,615
8,105
14.161
12,615
12.797
12.534
7.891
14.461
12.396
8.445

(7)

2.657
1.566
-358

(8)

(9)

(10)

9,722
9,630
10,114
14,046
3,820

7,165
8,064
10,472
14,059
4,246

3,467
1,809
914
481

1,360
1.206
1.120
842
762
1.199
1,305
1, 765
1,336
930
1,106
1,357
1,357

1,556
1,113
1,140
909

297
189
-129

811

1,157
1.506
1,757
807
848
1,230
1,164
1,852

Gross
foreign Gross
purforeign
chases
sales
(11)

7,674
11,525
9,930
2,318
950
1,069
1,338
704
677
940
595
772
703
731

Net
Gross
foreign foreign Gross
purforeign
purchases
chases
sales

(12)

(13)

2,824
4,208
9,716
9,016
1,837

5.427
5.830
3.901
5,430

891
772

927
597
260
397
545

1,149
833
652
839
454
735
497
645
544
700
593

555

275
-353
410
498

(14)

(15)

40.298
40.686
41.881
69.896
17.769

34.870
34,856
37,981
64.466
17.214

7.091
5.946
6.625
6.864
5.748
5.191
5.513
5.534
4,853
6,020
5,445
6,237
6.086

6,163
5.350
6,365
6,467
5,203
5.158
5.115
5.388
4.794
5.745
5,798
5.827
5.588

Issues of States and

CM-V-2. -

Foreign Purchases and Sales of Long-Term Foreign Securities by Type

dollars; negative figures indicate net sales by foreigners or
Net

1980
1981
1982
1983

-15
685
879
130
186

(6)

51.170 46.273
68,459 53,405
-1,100 95,993
78,675
537 129.788 124,334
159
36,102 36,302

-170
-383

Data include transactions

(5)

-841
1,096

1.873
2.229
3,869

Net
Gross
Net
foreign foreign Gross
foreign
purpurforeign purchases
chases
sales
chases

net outflow of capital

from the United States]

56
CAPITAL
Table

CM-V-3. - Net

[In millions of dollars.

Foreign Transactions

MOVEMENTS
Long-Term Domestic Securities by Type and Country

neqat1»e figures indicate net sales by foreigners or
table Tre

ngt outflon of capital

from the Un

CAPITAL MOVEMENTS
TaWe CM— V-4.

Foreign Purchases and Sales of Long-Term Securities, by Type and Country, During

First

Quarter 1984, Preliminary

[In Bitlltons of dpi lars]

Marketable
Bonds
Treas- of U.S.
ury i
Gov't
Federal Corp.
Ffnanc- and fed- Corporate
1ng
erally
8 other
Bank
sponbonds & sored
notes
agencies Bonds Stocks
(2)

(3)

Europe:

Austria
Belgium-Luxeiibourg
Bulgaria
Czechoslovakia
Denmark
Finland
France
Denocratlc Republic
Hungary.
Italy...

Harket-

Foreign
securities
Bonds Stocks
(6)

(51

Bonds
of U.S.
Gov't
u ry i
Federal Corp.
Flnanc- and fed- Corporate
ing
erally
i other
Bank
sponTotal bonds S sored
Bonds
Stoc
agencies
sales notes
able
Treas-

(7)

-----

(10)

(9)

(8)

(U)

(12

40
372

40
386

1.039

201

1,248

27
331

128

29
366

310
1.207

200
1,184

172
1,107

3
-

1,122

65
502

2,248

256
1.054
836

5,281

3,447

2,420

1,390

Norway. .
Poland...
Portugal.

(4)

37,995

29
56

••
'5

304

949

115
267

135

2,760

892

1,178

171

143

3,402

1,900

82
2,251

1.496

590

112

262

382

36
-

176

58
CAPITAL
Table

CM-V-5. -

MOVEMENTS

Foreign Purchases and Sales of Long-Term Securities, by Type and Country, During Calendar Year 1983
[In millions of dollars]

ales by forelqne

and fed-

Total bonds
sales notes
(1)

(2)

(3)

(4)

(6)

(5)

3,936

1,857

1,317
3,174
8,426

1,216
2,969
2,414

364

3.946

15,881

8.534

335

1.645

4,290

7.647

4.752

63,817

(8)

(9)

6,004

2.288

Corpor

sored
agencies Bonds Stocks
(10)

(11)

(12)

265

1,525

1,419

3.245

20,153

(7)

668

10,784

275

Bonds Stocks
(13)

1.790

(14)

59
FOREIGN CURRENCY POSITIONS

Backgr und

"Majority-owned foreign partnerships" are those organized under the laws
foreign country in which one or more nonbanking concerns or nonprofit
institutions in the Ui ited States, directly or indirectly, own more than 50
percent profit inter
"Majority-owned foreign subsidiaries" are foreign
t.
corporations in whic
Dne or more nonbanking business concerns or nonprofit
institutions located
the United States, directly or indirectly, own stock
with more than 50 pei
nt of the total combined voting power of all classes of
or more than 50 percent of the total value of all
of

Data have been collected since 1974 on the foreign currency positions of
banks and nonbanking firms in the United States, and on those of foreign
branches, majority-owned foreign partnerships, and majority-owned foreign
Reports cover five major
subsidiaries of U.S. banks and nonbanking firms.
foreign exchange market currencies and U.S. dollars held abroad.
Reporting
has been required pursuant to title II of Public Law 93-110. an amendment to
Act
of
September
Value
Modification
1973,
and implementing
Par
21.
the
Statistics on the positions have been published since
Treasury regulations.
March 1977 beginning with data for December 1975.
The report forms and instructions used in the collection of bank data
were revised effective with reports as of March 16, 1983, for the weekly
The most recent revision of the nonbank foreign currency forms (see
reports.
below) became effective as of the last business day of March 1983.

Reporting Threshold
The exemption level appl
ble to banks and banking institutions was $10
million equivalent through Jan ry 1982, when it was raised to $100 million,
The exemption level applicable to nonbanking business concerns and nonprofit
nonbank forms fi
1975
institutions was $1 million ei
i1
through November 1976.
It was raised to $2 million equivalent
the monthly
reports of positions held in the United States from November 1976 through
September 1978.
The exempti( n level was raised to $3 milli
on foreign
subsidiary positions on June
n the United
0, 1977, and for positions held in
The exemption level for nonbankini firms was
States on September 30. 1978.
11
the
positi
and
1

Common Definiti

and Concepts

The term "United States" means the States of the United States, the
District of Colimbia, the Comnonwealth of Puerto Rico, American Samoa, Midway
The term "foreign" means
the Virgin Islands, and Wake Island.
Island,
The term "worldwide" is used to
locations other than the "United States."
describe the sum of "United States" and "foreign" data.
Data for the United States include amounts reported by sole proprietorships, partnerships, and corporations in the United States including the
U.S. branches and subsidiaries of foreign nonbanking concerns, in the case of
"nonbanking firms' positions," and the agencies, branches, and subsidiaries
institutions, in
located in the United States of foreign banks and banking
the case of the weekly "bank positions."
Data for "foreign branches" and "abroad" include amounts reported by the
branches, majority-owned partnerships, and majority-owned subsidiaries of U.S.
In general, these data do not reflect the
banking and nonbanking concerns.
positions of foreign parents or foreign parents' subsidiaries located abroad
interconpany
accounts.
The
data
include
the
foreign
through
except
subsidiaries of a few foreign-owned U.S. -based corporations.

Firms nust report their entire
re fore
currency positic
quivalent value
foreign currency if a specified U.S. dollai
sntracts bought
category of assets, liabilities, exchange
net position in the currency.
In general.
emption level s a
entire f rm.
In reports on their foreign branches,
anks and nonbanks
partnerships, and majority-owned foreign subsidiaries,
liabilities,
dollar-denominated
ts,
are required to report the U.S.
those branches,
exchange contracts bought and sold, and net positioi
the specified
n
partnerships, and subsidiaries with reportable posit
foreign currencies.
i

Description of Statistics
Data collected on the Treasury foreign currency forms are publ ished in
The first section presents a swnmary
the Treasury Bulletin ir seven sections.
Sections II
of worldwide net posit ions in all of the currencies reported.
Section VII
through VI each presen' t data on a specified foreign currency.
presents the U.S. dollai positions of the foreign branches and subsidiaries of
ore of the specified
required to report
I

Assets, liabilities, and foreign exchange
the basis of time remaining to maturity as
regardless of the original maturity of the instr
due for receipt or del ivery within 2 bu sines
"Short-term" means maturing in 1 year
report.
report.

are reported on
of the report,
1.
"Spot" means
the date of the
day
less from the date of the

•

60
FOREIGN CURRENCY POSITIONS
Section

Table FCP-l-1.

- Summary Positions
- Nonbanking Firms' Positions

[In millions of foreign currency units.
except yen, wfiich is in billions]

German
marks
(2)

Japane
yen
(3)

- Weekly Bank

Table FCP-l-2.

Positions II

foreign currency units,
except yen, which is in billions]

[In millions of

Japa

7/U6/83
7/13/a3
7/2U/83
7/27/83

51
•

79
135
66

2,353
1,386
1,078
1,089

-42
-25

2,112
1,247
1,189
1,652

-260
-224
r-452
-637

-33
-90
-68

-676
-582
-449

-239
-225
-78

-41

145

-45
-40
-39
-17
-42

-588

-67
-172

5,040
5,058
4,090
3,830
4,941

961

-35

1,173
905
1,374

14
20
68

-376
-271
-515
-127

-195
-198
-78
-102

4.299
5.176
4,713
4.237

-471
-74
-310
-543

-260
-179
-203

4,528
4,796
4,718
5,027

-757
-849
-598
-1,095
-902

-362
-388
-274
155
-244

5,431
5,238
2,714
4.950
4,890

-977
-1,103
-1,057
-934

-503
-424
-188
-373

5,519
5,065
5,022
4,623

-5

8/03/83
8/10/83
8/17/83
8/24/83
8/31/83

-85
-118

9/07/83
9/14/83
9/21/83
9/28/83

-105
-88
-86
-56

10/05/83
10/12/83
10/19/83
10/26/83

2,437
2,278
1,995
1,807

107

-45
37
-30
-37

778
331

-18
-49

-69
-140
-117

177
226

11/U2/83
11/U9/83
11/16/83
11/23/83

U/30/83
12/07/83
12/14/83
12/21/83
12/28/83
See footnotes

-31

-112
-26

115
77

-124
-202
51

following table FCP-VII-2.

349
1,191
977
1,399

41
15
14

-23
1

-29
-16

-15

4,325
4,964
r4,209
5,289

61
FOREIGN CURRENCY POSITIONS
Section

II.

- Canadian Dollar Positions
- Nonbanking Firms' Positions

Table FCP-ll-1.

[In mill ions

Assets

Liabilities

dpi lars]

Net

Exchange bought £/

Exchange sold ij

posiExchange Po
tion 5/ rate 6/ held

(1)

l/Zi/il...
8/31/83...

3.256
2,925

Table FCP-ll-2.
[In mi

Weekly Bank Positions^'

ions of dollars]

r9,485

0.8112

Morldwide

10,086

0.8036

Horldwide

62
FOREIGN CURRENCY POSITIONS
Section

III.

- German Mark
- Nonbanking

Table FCP-lll-1.

[In

Assets IJ

(1)

10/31/83
11/30/83

1,489
1,631

Liabilities

lions of marts]

Exchange bought

Net

Exchange sold ij

posi- Exchange Position
tion 5/ rate 6/ held in:

(3)

(2)

3,209
3,070

Positions

Firms' Positions i/

7,742
11,203

4,692
4,698

11,731
11,582

5,432
5,730

Table FCP-lll-2.

Weekly Bank Positions

[In millions of marks]

8,444
5,248

2.6385
2.6385

Abroad
United States

13,692

2.6386

Worldwide

4,579
4,413

2.6445
2.7115

United States
United States

9,920

2.7238

Worldwide

FOREIGN CURRENCY POSITIONS

Section

IV.

Table FCP-IV-1.

- Japanese Yen Positions
- Nonbanking Firms' Positions!/

[In

lions of yen]
Net

Assets 2J

Liabilities

Exchange bought

Exchange sold

4^/

posi5/

(1)

7/29/83
8/31/83

Exchange Po
rate 6/ held

(2)

n.a.
170

236.8000

Worldwide

25 231.6300

Horldwide

Table FCP-IV-2.

- Weekly Bank

[In billions

yen]

Positions

64
FOREIGN CURRENCY POSITIONS
Section

—

Swiss Franc Positions

FCP-V-1. - Nonbanking

Table

[In mi

Firms' Positions 1/

lions of francs]
Net

Assets

2^/

Liabilities

Exchange bought

i_/

Exchange sold

posi-

Exchange

ion 5/ rate 6/

held in:

(1)

Table FCP-V-2.

- Weekly Bank

[In millions

francs]

Positions^

203

2.1318

Worldwide

223

2.1783

Worldwide

65
FOREIGN CURRENCY POSITIONS
Section

Table FCP-VI-1.

- Sterling Positions
- Nonbanking Firms' Positions W

VI.

[In mi llions of pounds]

Liabilities 2/

Exchange bought £/

Exchange
tion 1/

(2)

(3)

(5)

r-387

1.4945

ited States

829

Table FCP-VI-2.

Weekly Bank Positions

[In millions

of pounds]

1.4520

66
FOREIGN CURRENCY POSITIONS
VII. - U.S. Dollar Positions
- Nonbanking Firms' Foreign

Section

Table FCP-VII-1.

Abroad
Subsidiaries' Positions

[In mill ions of dol lars]

9/30/83
12/30/83

r4U,281
43,278

Table FCP-VII-2.

Weekly Bank Foreign Office Positions[In

roil

lions of dol lars]

Exchange bought

J_0/

Exchange sold

J_0/

7/06/83
7/13/83
7/2U/83
7/27/83

286,692
286,725
r283,910
286,587

303,355
303,356
r301,355
303,006

248,457
246,232
r243,154
249,157

227,469
224,637
r221,500
227,449

4,325
4,964
r4.209
5,289

8/03/83
8/10/83
8/17/83
8/24/83
8/31/83

282,987
286,565
285,447
289,825
292,385

300,055
302,858
301,790
307,070
308,005

254,114
255,135
268,813
262,636
259,381

232,006
233,784
248,380
241,561
238,820

5,040
5,058
4,090
3,830
4,941

9/07/83
9/14/83
9/21/83
9/28/83

283,261
287,692
286,930
285,900

299,608
304,322
303,938
302,174

263,838
261,066
260.775
262.302

243,192
239,260
239,054
241,791

4,299
5,176
4,713
4,237

10/05/83
10/12/83
10/19/83
10/26/83

287,672
287,522
287,482
290,909

304,087
304,411
304,438
307,245

272,872
278,562
269.007
264,606

251,929
256,878
247,333
243,243

11/02/83
11/09/83
11/16/83
11/23/83
11/30/83

293,588
289,112
291,914
317,936
321,495

308,992
304,568
307,152
332,922
335,744

259,146
273,498
268,527
265,505
272,706

238,311
252,804
250,575
245,568
253,567

5,431
5,238
2,714
4,950
4,890

12/07/83
12/14/83
12/21/83
12/28/83

294,953
298,526
299,865
298,754

308,979
312,933
314,468
313.041

269,723
268,959
247,130
235,024

250,178
249,487
227,505
216,114

5,519
5,065
5,022
4.623

67
FOREIGN CURRENCY POSITIONS
Footnotes to Tables FCP-I through FCP-VII

Worldwide net positions on the last business day of the calendar quarter
nonbanking business concerns In the United States and their foreign
branches and majority-owned partnerships and subsidiaries.
Excludes
receivables and installment paper which have been sold or discounted
before maturity, U.S. parent companies' investment in their majorityowned foreign subsidiaries, fixed assets (plant and equipment), and
capitalized leases for plant and equipment.

majority-owned foreign subsidiaries.

2/ Foreign bran

and majority-owned partnerships and subsidi

les

wor1(^ide net positions of banks and banking institutions in
United States, and their foreign branches and majority-owned fori
subsidiaries. Excludes capital assets and liabilities.

6/ Columns

ZJ Weekly

£/ Foreign branches and majoritySECTIONS
\J

ned subsidiaries only.

THROUGH VII

Positions of nonbanking business concerns in the United States and their
foreign branches and majority-twned partnerships and subsidiaries.
In
section VII positions of foreign branches and majority-owned partnerships
and subsidiaries only.

Capitalized plant and equipment leases are excluded.

£/ Includes both spot and forward exchange rates.

B^/

and 3 less columns 2 and 4.

Representative rates on the report date.
Canadian dollar and United
Kingdom pound rates are expressed in U.S. dollars per unit of foreign
currency, all others in foreign units per U.S. dollar,
Banks and banking institutions in the United States and
branches
and majority-owned
subsidiaries.
In
section
branches and majority-owned subsidiaries only.

Excludes capital assets.
Excludes capital liabilities.

10/ Includes both spot and forward exchange contracts.

U_/ Columns 3 and 9 less columns 6 and 12.
12/ See footnote 6,

their
VII,

68
Table ESF-1.

EXCHANGE STABILIZATION FUND
- Balances as of Sept. 30, 1983, and

Dec. 31, 1983

[In thousands of dollars]

Assets,

liabili

Sept. 30,

1983

Dec. 31, 1983

(21,277)

2,514,025
1,067.000
5,628,303

1,270.532
(602,901)

1,395,741
1,770,040

3,784,557
1,067,000
5,025.402

(351,371)
(273,608)
(1)

(264)

10,000
(4,892)

14,084
10,000
232,784

26,218

188,230

184,535

1,067,000

See footnotes at end of table ESF-2.

Table ESF-2.

- Income and

Expense

[In thousands of dollars]

Current quarter
Oct.

1983,

Oct.

1983,

through
Dec. 31,

ncome and expense
Profit

1983

(loss) on:

Foreign exchange

(26.301)

Adjustment for change in valuation of SDR
holdings and allocations \_/

(9.897)

Interest (net charges) on:
Special drawing rights
U.S. Government securities
Foreign exchange

11.140
53,200
50,206

Income from operations

11,140
53,200
50,206
78,348

ESF prior year administrative expenses
Net

Beginning July 1974, the International Monetary Fund (IMF) adopted
a technique for valuing the special drawing rights (SDR's) based on
weighted average of exchange rates for the currencies of selected
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.
1/ A non-interest-bearing liability to the U.S. Treasury resulting from
the transfer to the Exchange Stabilization Fund of foreign currencie
drawn from the IMF by the United States.
_!_/

(14)

ncome

balance sheet
)r fiscal years 1934 through 1940 appea
in the 1940 An
al Report of the Secretary if the Treasury and tho
succeeding years appear in subsequent reports
through 1980. Quarl ly
repo
balance sheets beginning with Dec. 31, 1938, have been published n the
Treasury Bulletin.
Data from inception to Sept. 30, 1978, may be
on the statements published in the January 1979 Treasury Bulletin,
i

CASH MANAGEMENT INITIATIVES

72
Reform '88 Cash Management

As lead agency for coordination of the
Management
project.
Government
Financial
financial management bureau, is working w
agencies to improve payment and collection s
of state-of-the-art technology in electronic
of other cash management mechanisms
such
interest savings are expected in fiscal 1984.

—

ration's Reform '88 Cash
(GFO).
Treasury's
Federal departments and
Through the application
ansfers and the expansion
iclcbo
$187 million in

The agencies and GFO have now identified 327
jes. of which 16
49.8 percent, had been completed
of March 31, 1984.
As illustrated
e table below, the interest savir
resulting from Reform '88 initiativ
ve far exceeded original expectu,^^.
ns.
Actual savings achievprl diiri
cal 1983
ceeded the fiscal 1983 goal by
ly 80 percent.
the first quarter of fiscal 1984
xeeded projected savings by more than

ions

percent.

Interest Savings Goals and Actuals--Fi seal

The table belo

1983 and First Quarter Fiscal

data for individual agencies.

[In thousands of dollars]

Fiscal 1984 first quarter

Department /agency

Agency for International Development
Agri cul ture
Commerce
Defense
Educati on
Energy

Environmental Protection Agency
General Services Administration
Health and Human Services
Housing and Urban Development
Interior
Justice
Labor
National Aeronautics and Space Administration
Railroad Retirement Board
Small Business Administration
State
Transportat on
Treasury
Veterans Admi ni st rat 1 on
i

Tota 1

1,107
3, 449
89
957
3,400

1.080
149
1,483
494
186
450
188
4,000
5

148

549
79,000
2.873
99. 644

ACCOUNTS AND LOANS RECEIVABLE DUE FROM THE PUBLIC

74
SUMMARY OF ACCOUNTS AND LOANS RECEIVABLE DUE FROM THE
1982) advised
Treasury Fiscal Manual
(Bulletin 82-18, July I,
of a continuing reporting requirement to obtain data on the status of
and loans receivable due from the public, and on agencies' accounting
The bulletin also required all agencies to
collection practices.
supporting schedule to the Statement of Financial Condition {SF-220)
ves data concerning reconciliation of account balances; an aging
of amounts due; the disposition of writeoffs and adjustments to
admini strati ve action taken on del inquent amounts; an aging
s
of rescheduled receivables; and a reconciliation of interest and
accounts and loans
The
fol lowing
assessed on del inquencles.

PUBLIC, AS OF SEPT. 30, 1983

The first table gives accounts and loans receivable information by
The accompanying pie graphs
tional category for 1982 and 1983.
representation of the 1983 receivables in each functional category
The
percentage of the total amount of receivables for that year.
remaining tables categorize receivables by agency for 1982 and 1983. s
summary reconciliation of gross accounts and loans receivable, and provifl
summary aging schedule of gross accounts and loans receivable.
«

e tables

were compiled from SF-220 supporting schedules.

Accounts and Loans Receivable by Function
[In billions]

Administration of justice
Agriculture
Comineroe and housing credit
Community and regional development
Education, training, employment, and socia
Energy
General government \J
General purpose fiscal assistance
General science, space, and technology ...
Health
Income security
National defense
Natural resources and environment
Transportation
Veterans benefits and services
Iota!

Loans

Admi

nl St

rat 1 on of just 1 ce

Agriculture
Commerce and housing credit
Community and regional development
Education, training, employment, and social services
Energy
General government ZJ
General purpose fiscal assistance
General science, space, and technology
Health
Income security
International affairs
National defense
Natural resources and environment
Transportation
Veterans benefits and services
Tota 1

*
\J

Less than $100 million.

Includes accounts receivable from Internal Revenue Service of $24.1 billion
in 1983 and $27.3 billion in 1982.

Includes loans receivable from the Federal Financing Bank of $136.1 billion
in 1983 and $124.4 billion In 1982.

AND 1982

1.8
.6
.2

37.0
*

1.6
2.6
254 .

Accounts Receivable as

of Sept. 30,

1983

(Percent)

Education, training, employment,
and social services- 1.6

Energy-2.2

Community and

regional

development- 1.0

Income security-27.2

Commerce and

housing

credit-2.8

Agriculture-6.6

Other-2.7

International affairs-2.1

National defense- 1.2

Veterans benefits and
services- 1.6

GENERAL GOVERNMENT
Other-9.0

IRS-42.0Total;

$57.4

Loans Receivable as

billion

of Sept. 30,

1983

(Percent)

pommunity and

regional development-3.5

Commerce and

housing credit-6.4

Agriculture-9.9

Energy-4.0

Education, training, employment,
and social services-4.0

International affairs- 14.6

Other- 1.7i

-•—Veterans benefits and

GENERAL GOVERNMENT

services- 1

Other-

Federal Financing Bank-53.4

Total:
Includes accounis receivable from administration of justice: general
purpose fiscal assistance, general science, space, and technology,
heattti, natural resources and environment; and transportation
'

Includes toans receivable from administration of justice, general

purpose fiscal assistance, healtti, income secunty, national defense,
natural resources and environment, and transportation.

$254.6
Note

billion

Government accounts and loans receivable are amounts due
from non-Government entities for goods furnistied or services
rendered These receivables result from a wide range of Federal
activities including tax assessments, sale of Government services
such as satellite Taunchings. sale of Government goods such as
resources from Federal lands, overpayments to beneficiaries
or annuitants, and various loan programs such as student and
housing loans
natural

76
SUMMARY OF ACCOUNTS AND LOANS RECEIVABLE DUE FROM THE

PUBLIC, AS OF SEPT. 30, 1983
Accounts and Loans Receivable by Agency

AND 1982

[In billions]

Accounts receivable

LoaiiS

receivable

Agency

Legislative branch
Executive branch:
Funds appropriated to the President.
Departments:
Agri cul ture
Commerce
Defense
Education
Energy
Health and Human Services
Housing and Urban Development
Interior
Justice
Labor
State
Transportation
Treasury
Veterans Administration
Other independent agencies
Of f -budget agencies

$20.1

2S.6
.9

10.3
.7

13.5

67.4

Gross receivables
Less taxes receivable, allowances,
and i ntra governmental transfers..

53.7

254.6
(33.2)

Net receivables due from the publi

Less than $100 mi

1 1

Summary

Reconciliation of Gross Accounts and Loans Receivable

Due from the

Public, as of Sept. 30,

[In billions]

Beginning balance, Sept. 30, 1982.
New receivables
Repayments and reclassifications
Amounts written off
Ending balance, Sept. 30, 1983

('3)

93.7
103.4
(94.7)
(2-")

67.4

100.0

$53.7
59.4
(54.4)

$240.2

1983

(3°-')

DELINQUENT ACCOUNTS AND LOANS RECEIVABLE
DUE FROM THE PUBLIC*
(In billions)

Sept. 30,

1982

Sept. 30.

Total Delinquent:

$37.8

1983

Total Delinquent:

$38.0

Delinquent

* Does not include noncurrent loans receivable.

NOTE-Not

delinquent amounts are those outstanding

date of notice that payment

due, and those that

months following the end of the reporting period.

30 days from the date
vi^ill

become due

of invoice or

during the next

NATIONAL BANK

REPORT

82
Operating Income and Expense, and Dividends of National Banks, Calendar Year 1983
[Dollar amounts in millions*

Source:

Office of the Conytroller of the Currency]

Number of banks 1/.

Equity capital

Capital stocli, par value:
Preferred
Common

14,178

Total capital stock, par value
Total equity capital

14,354
79,046

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
Service charges on deposit accounts in domestic offices
Other service charges, commissions, and fees
Other operating Income

Jl 76

92,681
10,779
5,332
11,906
5,729
1,122
1,377
2,405
3,040
5,072
4,142

Total operating Income
OPERATING EXPENSES:
Salaries and employee 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

143,585

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
EXTRAORUI NAR Y ITEMS
NET I NCOME

133,245
10,340
2,278
8,062
-10
8,052
43
e,0g5

Cash dividends declared:
On preferred stock
On common stock

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

Includes all banks operating as Insured national banks at yearend,
except Deposit Insurance National Bank, Oklahoma City, Okla.

19,955
13,445
19,913
37,606
10,991
4,466
356
6,614
6,888
13,012

23
185

Percent
10.24
5.32

U.S.

CURRENCY AND COIN
IN CIRCUUTION

OUTSTANDING AND

84
U.S.

Currency and

Com

Outstanding and

Circulation

AMOUNTS OUTSTANDING AND IN CIRCULATION

Mar. 31,

1984

U.S. notes

tstanding
unt

Currency no
longer issued

$199,064,582,783 $183,728,453,886 $183,132,161,470 $322,539,016 $273,763,399

$15,326,128,898

)6,519

H,599

492,818,186
615,382,518

362,235,381
138,793,671

130,582,805
376,588,847

273,516,281

14,317,928,194

1,523,674,846

12,794,263,348

$2,024,703,898 $13,301,425,000

Id by:

eserve banks

ulation

,749,645,943

154,431,617,749

153,861,718,291

296,384,177

CURRENCY IN CIRCULATION BY DENOMINATION

Mar. 31, 1984
Federal

JRSI
1985

Full text of Treasury Bulletin : June 1984

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