Full text of Treasury Bulletin : June 1986
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DEPARTMENT OF THE TREASURY
FINANCIAL
MANAGEMENT SERVICE
FIRST-CLASS MAIL
OFFICE OF THE COMMISSIONER
WASHINGTON,
D.C.
POSTAGE & FEES PAID
20226
Department
of the Treasury
Permit No. G-4
OFFICIAL BUSINESS
PENALTY FOR PRIVATE USE, $300
1-Lbn.aAij
Rm.
M.T.
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[4]
©
Spring Issue
^)>j
TREASURY
Office of the Secretary
Department of the Treasury
Washington, D.C.
Fiscal
1986
10
lASURY
Compiled by
Financial
Service
Management
TREASURY
Compiled by
Office of the Secretary
Department of the Treasury
Washington, D.C.
The Treasury Bulletin is
U.S. Government
Financial
Service
for sale
by the Superintendent of Documents.
Washington, D.C. 20402
Printing Office,
Management
©©[JDtiCiijilti^
SPRING ISSUEU SECOND QUARTER, FISCAL 1986
FINANCIAL OPERATIONS
Page
FEDERAL FISCAL OPERATIONS
FFO-1.
Chart
FFO-2.
Chart
Summary of fiscal operations
-
On-budget and off-budget results
-
On-budget and off-budget receipts by source
-
Budget receipts by source
-
FFO-3.
On-budget and off-budget outlays by agency
-
FEDERAL OBLIGATIONS
wHhin
FO-1.
-
Gross obligations incurred
FO-2.
-
Gross obligations incurred outside the Federal
and outside the Federal
Government by object class
Government by department or agency
10
11
ACCOUNT OF THE U.S. TREASURY
UST-1.
Elements of changes in Federal Reserve and tax and loan note account balances
-
FEDERAL DEBT
securities held by the public and Government accounts. 1975-85
Chart
-
Federal
FD-1.
-
Summary of Federal
14
15
debt
FO-2.
-
Interest-bearing public debt
15
FD-3.
-
Government account series
16
FD-4.
-
FD-5.
-
Interest-bear Ing securities Issued by Government agencies
Maturity distribution and average length of marketable interest-bearing public debt held by private investors
18
FD-6.
-
Chart
-
FD-7.
-
Debt subject to statutory limitation
Maturity distribution of the marketable debt, privately held
Treasury holdings of securities issued by Government corporations and other agencies
17
18
19
20
TREASURY FINANCING OPERATIONS
PUBLIC DEBT OPERATIONS
PDO-1.
-
Maturity schedule of interest-bearing marketable public debt securities other than regular weekly and 52-week
Treasury bills outstanding
23
POO- 2.
-
Offerings of bills
25
PDO-3.
-
Public offerings of marketable securities other than regular weekly Treasury bills
27
PDO-4.
-
Allotments by Investor classes on subscriptions for public marketable securities
29
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
series E. EE, H, and HH
31
31
32
OWNERSHIP OF FEDERAL SECURITIES
securities by class of investors and type of issues
OFS-1.
-
Distribution of Federal
OFS-2.
-
Estimated ownership of public debt securities by private investors
33
33
MARKET BID YIELDS ON TREASURY SECURITIES
Chart
Treasury market bid yields at constant maturities, bills, notes, and bonds
-
MBY-1.
34
35
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
36
37
INTERNATIONAL STATISTICS
IKTERKATIOKAL FIHANCIAL STATISTICS
'1
reserve assets
IFS-1.
-
U.S.
IFS-2.
-
Selected U.S.
IFS-3.
-
IFS-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
42
42
43
CAPITAL MOVEMENTS
LIABILITIES TO FOREIGNERS REPORTED BY BANKS IN THE UNITED STATES
- Total liabilities by type of holder
CM-I-1.
45
46
Total
liabilities by type, payable in dollars
liabilities by country
*'
Total
liabilities by type and country
18
CM-1-2.
-
Total
CM-I-3.
-
CM-I-4.
-
CLAIMS ON FOREIGNERS REPORTED BY BANKS
IN
THE UNITED STATES
CH-II-1.
-
Total
claims by type
1'
CM-II-2.
-
Total
claims by country
50
claims on foreigners by type and country reported by banks in the United States
SUPPLEMENTARY LIABILITIES AND CLAIMS DATA REPORTED BY BANKS IN THE UNITED STATES
CM-II-3.
-
Total
51
CM-III-1.
-
52
CM-III-2.
-
53
Dollar claims on nonbanlt foreigners
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
54
CH-IV-1.
-
Total
liabilities and claims by type
CM-IV-2.
-
Total
liabilities by country
55
CM-IV-3.
-
Total
liabilities by type and country
56
CM-IV-4.
-
Total claims by country
57
III
©(o)[JDft©[n]fe
Page
CM-V-1.
-
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
CH-V-2.
-
Foreign purchases and sales of long-term foreign securities by type
CM-V-3.
-
Net foreign transactions in
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
CM-IV-5.
-
Total
TRANSACTIONS
IN
58
IN
THE UNITED STATES
59
59
long-term domestic securities by type and country
60
61
62
FOREIGN CURRENCY POSITIONS
SUMMARY POSITIONS
positions
FCP-I-I.
-
Nonbanking firms'
FCP-I-2.
-
Weekly bank positions
64
64
CANADIAN DOLLAR POSITIONS
positions
FCP-II-1.
-
Nonbanking firms'
FCP-II-2.
-
Weekly bank positions
65
65
GERMAN MARK POSITIONS
positions
FCP-III-1.
-
Nonbanking firms'
FCP-III-2.
-
Weekly bank positions
66
66
JAPANESE YEN POSITIONS
positions
FCP-IV-1.
-
Nonbanking firms'
FCP-IV-2.
-
Weekly bank positions
67
67
SWISS FRANC POSITIONS
FCP-V-1.
-
Nonbanking firms'
FCP-V-2.
-
Weekly bank positions
positions
68
66
STERLING POSITIONS
positions
FCP-VI-1.
-
Nonbanking firms
FCP-VI-2.
-
Weekly bank positions
U.S.
'
69
69
DOLLAR POSITIONS ABROAD
j
foreign subsidiaries'
FCP-VII-1.
-
Nonbanking firms'
FCP-VII-2.
-
Weekly bank foreign office positions
positions
70
|
70
EXCHANGE STABILIZATION FUND
I
ESF-1.
-
Balance sheet
72
ESF-2.
-
Income and expense
72
I
j
I
CASH MANAGEMENT/DEBT COLLECTION
CASH MANXGEMEKT INITIATIVES
Collection and Deposit Legislation Developments
in
Fiscal
1986.
Reform '88 Cash Management
SPECIAL REPORTS
lATIOKAL BANK REPORT
80
U.S. CURRENCY AND COIN OUTSTANDING AND IN CIRCULATION
82
Note. --Oetal
1
s
of figures may not add to totals because of rounding.
Abbreviations and symbol:
r
represents Revised,
p
Preliminary, n.a. Not available.
t
Includes funds transferred from others.
ELECTRONIC RETRIEVAL OF TREASURY BULLETIN STATISTICAL TABLES
*!n
In August 1986, for the first time, the following Treasury Bulletin
the Financial Management Data Base Terminal Access System (TAS):
international
data
tables will
IFS-1
U.S.
IFS-2
Selected U.S. Liabilities to Foreigners
CH-I-1
Total
Liabilities by Type of Holder
CM-I-4
Total
Liabilities by Type and Country
CM-II-I
Total
Claims by Type
CM-II-3
Total
Claims on Foreigners by Type and Country
CM-IV-1
Total
Liabilities and Claims by Type
CM-IV-3
Total
Liabilities by Type and Country
CM-IV-5
Total
Claims by Type and Country
CM-V-1
Foreign Purchases and Sales of Long-Term Domestic
Secur ties by Type
CM-V-3
Net Foreign Transactions in Long-Term Domestic
Securities by Type and Country
CM-V-4
Foreign Purchases and Sales of Long-Term
Securities, by Type and Country
be
provided electronically
Reserve Assets
i
Electronic publishing provides the most current data available and does away with the timelag in paper dissemination.
In the
financial environment, only a short delay in obtaining current data can mean a loss of hundreds of thousands of dollars--time is
oney
The TAS is an easily accessible, user-friendly, menu-driven system and can be accessed by those who know nothing about
Users may also access all volumes of the Treasury Financial Manual, GAO Title 2, the Federal Account Symbols and Titles
computers.
financial reports such as the Daily Treasury Statement, Monthly Treasury Statement, and Treasury Reporting Rates of
Exchange.
Soon, 0MB circulars and 0PM payroll regulations will be added, as well as online draft review of new regulations.
The
TAS makes research easy--related financial and accounting data are contained in one central system.
"book,
There is an annual subscription
Systems, Inc., as follows:
rate
Government rates:
f
Commercial rates:
pay
to
for
actual
200 connect hours
100 connect hours
50 connect hours
25 connect hours
connect
-$6,400
-3,900
-
2,340
1,500
200 connect hours -$10,000
100 connect hours 6,100
50connecthours-3,660
(
25
'[(Treasury
has absorbed all
connect hours
-
2,345
costs except the actual connect time used.)
For further information, write or call:
Reports Management Branch
Financial Report ing Division
Financial Management Service
Department of the Treasury
Treasury Annex Ho. 1, Attn: GAO Bldg., Room 3118
Washington, DC
20226
Telephone 202-566-9419
or
Proprietary Computer Systems, Inc.
1100 17th Street, NH
Suite 1000
Washington, DC 20036
Telephone 202-466-6240 (Washington office)
818-781-8221 (Los Angeles office)
hours
to
the
vendor
of
this
system.
Proprietary
Computer
CHANGES
IN
REPORTING
With this issue, tables in the "Federal Fiscal Operations" and "Federal Debt"
sections reflect changes in reporting mandated by the Balanced Budget and
All former off-budget
Emergency Deficit Control Act of 1985 (Public Law 99-177).
Federal Financing Bank (FFB) figures
entities are now presented as on-budget.
have been combined with totals of agencies that use the FFB to finance their
programs.
Additional ly, two social security trust funds. Federal old-age and
survivors insurance and Federal
disability insurance, have been moved offbudget.
Historical data, with some exceptions, have been adjusted accordingly in
the affected tables.
FEDERAL FISCAL OPERATIONS
Table FFO-1.
[In millions of dollars.
Source:
- Summary
of Fiscal Operations
Monthly Treasury Statement of Receipts and Outlays of the United States Government]
Total on-budget and off-budget results
Fiscal year
CO
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FEDERAL FISCAL OPERATIONS
Table
[In
minions of dollars.
FFO— 2. — On-budget and Off-budget
Receipts by Source
Source: Monthly Treasury Statement of Receipts and Outlays of the United States Government]
Social Insurance
taxes and contributions
Income taxes
Corporation
Fiscal year
or month
Total
receipts
Net
Withheld
Net
income
taxes
Errployment taxes and contributions
Old-age, disability, and
hospital insurance
Gross
Refunds
515
1961
1982
1983
1984
1985
599,272
617,766
600,562
666,457
734,057
256,007
267,146
266,046
281,805
302,554
77,209
85,096
83,585
81,381
97,720
47.299
54,498
60,692
64,771
65,743
285,917
297,744
288,938
298,415
334,531
73,733
65,991
61,780
74,179
77,413
12,596
16,784
24,758
17,286
16,082
61,137
49,207
37,022
56,893
61.331
347,054
346.951
325,960
355,308
395.862
161,030
178.106
183,390
206.753
231,691
1986 (Est.)
1987 {Est.l
777,139
850,372
325,174
358.307
102,893
108,523
74,329
80,846
353,738
385,984
86,346
101,090
15,481
14,361
70,865
86,729
424,603
472,713
248,579
270,012
49,613
94,593
39,794
72,151
57,645
55,776
73,808
57,881
51,163
68,193
76,710
53,370
49,557
23,952
26,343
27,640
23,448
26,898
24,914
22,568
29,360
23,416
28,568
26,146
27,295
25,141
3,144
43.244
11,842
17,986
25,982
2,266
1,783
1.431
1,541
1,177
1,280
816
498
3,174
16,060
15,254
51.602
3.611
34,568
26.252
25.770
34,643
30,595
23,405
30,199
41.130
25.376
12,572
10.304
11,265
2.205
11.373
3,052
2,397
12,225
3,383
2.364
13.108
3,588
1,941
10,714
1,888
2,409
975
585
1,161
1,319
8,417
8,855
1,230
10,788
1,892
1,078
10,950
1,181
1,390
12,287
2,825
620
6.113
23,671
60,457
4,841
45.346
28,144
26,846
45,592
31,776
24,795
42,486
43.955
25,996
20,685
19,146
24,218
19.362
20,487
20,799
18,274
21,003
17,486
17,203
18,774
24,006
18,840
21,941
356,873
159,925
1985-Mar
Apr
May
June
July
Aug
Sept
Oct
Nov
Dec
1986-Jan
Feb
Mar
Fiscal 1986 to date
1,953
13,377
1,136
2,287
13,616
2,412
1,268
2.448
15,484
1,255
3,490
.275
,202
973
821
763
,321
,601
Net
6
FEDERAL FISCAL OPERATIONS
Table
FFO— 2. - Onbudget and Off-budget
[In
Social insurance
taxes and
contributions
Excise taxes
Airport and airway trust fund
Con.
Fiscal year
or month
1981
1982
1983
1984
1985
182,720
201,498
208,994
239,376
265,163
2,165
2,501
2,856
1986 (Est.)
1987 (Est.)
280,438
302,804
2,959
3,252
Feb
Mar
Fiscal
1986 to date
20,551
28,032
28,423
21,256
22,527
22,943
21,977
19,565
20,145
19,656
26,002
22,040
22,785
130,192
Black lung disability
trust fund
Highway trust fund
Gross
Xet
social
insurance
taxes and
contributions
1985-Mar
Apr
May
June
July
Aug
Sept
Oct
Nov
Dec
1986-Jan
Receipts by Source— Con.
minions of dollars]
25
134
197
232
200
260
262
262
263
270
260
131
235
233
187
1,316
4
Refunds
Miscellaneous
Gross
Refunds
FEDERAL FISCAL OPERATIONS
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8
FEDERAL FISCAL OPERATIONS
Table
[In
Fiscal year
or month
minions of dollars.
Legislative
branch
FFO— 3. — On-budget and
Off-budget Outlays by Agency
Source: Monthly Treasury Statement of Receipts and Outlays of the United States Government]
The
judiciary
Executive
Office
Funds appropriated
of the
to the
President
President
Agriculture Department
Commerce
Depart^nent
Defense Department
Military
1981
1982
1983
1984
1985
1,214
1,367
1,437
1,579
1,610
641
710
787
866
966
96
95
94
95
111
8,620
8,055
8,080
11,080
12,050
41,624
45,700
52,404
42,015
55,523
2,296
2,054
1,925
1,894
2.140
153.838
180,741
204,430
220,840
245,371
16,892
17,927
18,891
19,540
18,831
1986 (Est.)
1987 (Est.)
1,946
1,985
1,062
1,203
111
113
12,467
13,798
54,194
44,623
2,001
2,077
258,426
274,265
20,687
20,916
128
129
131
165
149
141
122
140
129
171
125
133
143
99
119
75
7
677
9
689
937
393
158
174
150
179
1,227
1,424
1,858
581
1,253
600
-97
1,173
3,871
5,054
3,381
3,004
3,893
3,840
3,134
5,269
6,321
5,182
5,697
3,546
4,114
21,039
19,597
21,492
20,247
21,478
22,580
21,018
21,243
21,569
23,184
20,249
20,659
23,370
1,667
1,660
1,687
1,656
1,754
1,719
1,761
1,721
1,733
1,744
1,733
1,648
1,665
840
531
5,368
30,126
130,275
10,239
1985-Mar
Apr
May
June
July
Aug
Sept
Oct
Nov
Dec
1986-Jan
Feb
Mar
Fiscal
1986 to date
9
63
7
74
103
66
98
74
102
76
108
74
14
9
10
11
9
248
228
158
167
163
223
202
112
119
164
Education
Department
Civil
17,053
Energy
Department
9
FEDERAL FISCAL OPERATIONS
Table FFO-3.
- Onbudget and
Off-budget Outlays by Agency-Con.
[In millions of dollars]
Fiscal
year or
month
General
Services
Administration
1981
1982
1983
1984
1985
95
138
1985-Mar
Apr. ...
Way
June. ..
July...
Aug....
Sept...
Oct
Nov
206
-218
,032
773
661
510
40
-39
7,341
7,478
24,069
24,698
935
52
642
608
609
537
1.874
2,052
1,862
2,113
2,029
1,949
2,090
2,071
1,855
2,055
2,103
1,957
1,515
-24
-410
232
101
-230
1
56
-159
Dec...
1986-Jan....
Feb
Mar
-299
119
197
*
Small
Business
Administration
18,096
19,983
21,278
22,590
23,727
41
358
Fiscal 1986
to date.
Office of
Personnel
Management
5.537
6,155
6,853
7,055
7,251
91
1986 (Est.).
1987 (Est.).
National
Aeronautics
and
Space
Administration
571
553
593
889
603
749
572
687
380
680
141
4
1
10
9
-5
170
221
-11
-23
-28
Veterans
Admini stration
Undistributed offsetting receipts
Employer
share,
employee
retirement
Interest
received
by
trust
funds
14.133
10,509
10,963
11,661
9,783
-17,903
-19,849
-23,484
-25,263
-27,217
-13,811
-16,066
-17,102
-20.354
-26,189
-10,138
-6,250
-10,491
-6,694
-5,542
26,538
26,353
10,912
10,861
-29,126
-31.648
-31,072
-34,347
-5,450
-5,280
2,291
2,290
3,205
904
2,320
3,408
939
2,126
3,296
2,407
2.070
2,321
1,072
1,022
1,622
726
-498
-209
-120
2,550
2,368
377
810
895
136
655
-2,140
-2,136
-2,161
-2,327
-2,279
-2,325
-3,670
-2,172
-2,172
-2,388
-2,239
-2,287
-2,237
-254
-137
-660
-12,160
13,291
5,243
Note.
Outlays consist of disbursements less proprietary receipts from the
public and certain intrabudgetary transactions.
Estimates are based
on the Budget of the United States Government, Fiscal Year 1987 released
Feb. 5, 1986, by the Office of Management and Budget.
-65
-253
-305
1,450
-1,107
-12,049
-128
-340
-184
Total outlays
Rents and
royalties
on the Outer
Continental
Shelf lands
22,907
23,941
24,827
25,593
26,333
Less than $500,000.
—
Other
independent
agencies
Onbudget
-2
543.013
594.302
661.219
685,968
769,515
135.196
151.404
147,108
165,813
176,807
-1,500
-1,200
795,185
795,386
184,743
198,617
-3
63.714
69.784
66,581
57,048
64.376
67.898
59.573
70.352
69.391
71.579
68.146
61.963
63.660
15,395
13,424
15,210
16,472
14,801
15,476
14.999
14.616
15,157
11,270
15,055
15,987
16.040
-14
405,092
8.124
-
-18
22
-618
-242
-83
-1.208
-158
-827
-293
26
-493
-318
-296
-227
Offbudget
-1
-3
-3
-3
-1
10
FEDERAL OBLIGATIONS
'Obligations* are the basis on which the use of funds Is controlled
They are recorded at the point at which the
Government nakes a flra coDnltnent to acquire goods or services and are
the first of the four key events order, delivery, paynent, and consmption which characterize the acquisition and use of resources.
In
genera 1 . they consi st of orders pi aced, con tracts awarded . servi ces
received, and sinilar transactions requiring the disburseient of noney.
In the Federal Governnent.
—
—
The obligational stage of Governaent transactions is a strategic
point in gauging the ivpact of the Government's operations on the
national econoqr, since it frequently represents for business fims the
Governnent coRvrltBent which stlnulates business investnent, including
Inventory purchases and eifiloynent of labor.
Dlsbursenents may not
occur for months after the Governnent places Its order, but the order
Itself usually causes Innedlate pressure on the private econony.
Table
FO— 1. — Gross
Obligations are classified according to a uniform set of categories
based upon the nature of the transaction without regard to its ultimate
purpose. All payments for salaries and wages, for exaople, are reported
as personnel coiq)ensation, 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,
the "buying" agency records obligations, and the "performing" agency
records reimbursements.
In table FO-1, obligations Incurred within the
Government are distinguished from those incurred outside the Governnent. Table F(>-2 shows only those Incurred outside.
Obligations Incurred Within and Outside the Federal Government by Object Class, as of Dec. 31, 19851
i
[In
minions of doHars.
Source: Standard Form 225, Report on Obligations, from agencies]
Gross obligations incurred
Object class
Personal services and benefits:
Personnel compensation
Personnel benefi ts
Benefits for former personnel
32.523
1.825
32,523
6.131
156
156
Contractual services and supplies:
Travel and transportation of persons.
Transportation of things
Rent, communications, and utilities..
Printing and reproduction
Other services
Supplies and materials
1.032
1.607
2,647
237
34.560
16.752
195
496
1,163
123
10.488
7,225
1,227
2,103
3.810
360
45,048
23.978
15.370
2.814
14,416
3,691
612
3D
19,061
3,426
14,446
28.619
86,660
45.015
4,853
10.551
209
33,472
86,670
55.566
209
-439
7.737
-439
8,305
Acquisition of capital assets:
Equipment
Lands and structures
Investments and loans
Grants and fixed charges:
Grants, subsidies, and contributions.
Insurance claims and indemnities
Interest and dividends
Refunds
10
Other:
Unvouchered
Undistributed U.S. obligations
Gross obligations incurred
*
_1/
336,051
_!/
Less than $500,000.
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 public
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 may differ somewhat from the Budget of the U.S.
Government.
Gross obligations incurred {as above)
336,051
Deduct:
Advances, reimbursements, other income, etc
Of f setti ng recei pts
Net obligations incurred
-43,735
-52.647
239,669
11
FEDERAL OBLIGATIONS
Table FO-2.
-
Gross Obligations Incurred Outside the Federal Government by Department or Agency, as of Dec. 31, 1985
Cln
minions of dollars.
Source:
Standard Form 225, Report on Ofalfgations, from agencies]
Personal services and benefits
Benefits
Classlffcatlon
Personnel
compensation
Personnel
benefits
for
former
personnel
Contractual services and supplies
Travel and
transportatlon
of persons
Transportation of
things
Rent, communlcatlons,
and
utilities
Printing
12
FEDERALOBLIGATIONS
Table FO-2.
-
Gross Obligations Incurred Outside the Federal Government by
Department
or Agency, as of Dec. 31,
[In
1985-Con.
minions of doUars]
Grants and fixed charges
Acquisition of
capital assets
Classification
Legislative branchV,
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 Army
Department of the Navy
Department of the Air Force
Defense agencies
Tota 1 mi
1 i
tary
Civil
Education Department
Energy Department
Health and Human Services, except
Social Security
Health and Human Services, Social
Security (off-budget)
Housing and Urban Development Dept....
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 Admini strati on
National Aeronautics and Space
Administration
Office of Personnel Management
Small Business Administration
Veterans Administration
Other Independent agencies
Total
Equipment
Lands
and
structures
Investments
and
loans
Grants,
subsidies,
and contri but ions
Insurance
claims
and indemnities
Interest
and
dividends
Refunds
Un-
vouchered
Undistributed U.S.
obligations
22
*
2
*
1,542
21
*
3
11
10,455
972
1,134
4,944
2.044
7
7
10
11
11
1,785
4,499
7,907
193
287
141
182
55
14 , 385
10
*
235
556
521
18
37
*
581
13
15
235
1
9
74
59
1
2
*
9
7
23
16
1
46
76
15,370
2
573
43
Total
gross
obligations
incurred
13
ACCOUNT OF THE
U.S.
TREASURY
SOURCC AND AVAILABILITT OF THE BALANCE IN TKE ACCOUNT OF THE U.S. TREASURT
The operating cash of the Treasury is Maintained In Treasury's
accounts vlth the Federal Reserve banks and branches and In tax and loan
Najor Infomatlon sources Include the Dally Balance Wire
accounts.
received froai the Federal Reserve banks and branches, and electronic
transfers through the Treasury Financial Coivjnlcatlons Systen.
As the
balances In the accounts at the Federal Reserve banks become depleted,
they are restored by calling In (withdrawing) funds froa thousands of
financial Institutions throughout the country authorized to aalntaln tax
and loan accounts.
Under authority of Public Law 95-147, the Treasury li^leaented a
prograB on Nov. 2, 1978. to Invest a portion of Its operating cash In
Under
obligations of depositaries aalntalnlng tax and loan accounts.
the Treasury tax and loan Investxent prograa. depositary financial
Institutions select the nanner In which they will participate In the
Depositaries that wish to retain funds deposited In their tax
progran.
and loan accounts In Interest-bearing obligations participate under the
Note Option; depositaries that wish to re«1t the funds to the Treasury's
account at Federal Reserve banks participate under the Renlttance
Option.
Table UST-1.
-
Elements of Changes
in
Deposits to tax and loan accounts occur In the noraal course of
business
under
unlfor* procedure applicable to all
financial
a
Institutions whereby custoners of financial Institutions deposit with
thev tax payments and funds for the purchase of Governnent securities.
In Bost cases the transaction Involves Berely the transfer of funds fro*
a customer's account to the tax and loan account In the saae financial
Institution.
On occasions, to the extent authorized by the Treasury,
financial institutions are persltted to deposit In these accounts
proceeds froii subscriptions to public debt securities entered for their
own account as well as for the accounts of their customers.
The tax and loan systes peralts the Treasury to collect funds
through financial Institutions and to leave the funds In Note Option
depositaries and In the financial coiHjnltles In which they arise until
such tine as the Treasury needs the funds for Its operations.
In this
way the Treasury is able to neutralize the effect of Its fluctuation
operations on Note Option financial Institution reserves and the
econoiv
Federal Reserve and Tax and Loan Note Account Balances
[In millions of dollars.
Source: Financial Management Service]
Credits and withdrawals
Tax and loan note accounts
Federal Reserve accounts
Fiscal year
or nwnth
Withdrawals 2/
Received
directly
1981
1982
1983
1984
1985
1985-Mar.
Apr.
Hay..
June.
July.
Aug..
Sept.
Oct..
Nov..
Dec.
1986-Jan..
Feb..
Mar..
Proceeds from sales of securities 3/
Credits 1/
"
Marketable
issues
Received
through remittance option
tax and loan
depositaries
1.372.394
1.512.662
1,752,320
1,806,415
2,017,708
80,177
94.732
107,837
125,293
146,759
1,453,153
1,599.939
1,854,575
1,941,748
2,168,806
137,726
214,891
187,364
149,801
166,402
175,673
170,284
172,287
188,764
183,193
181,107
156,734
168,916
12.712
13,375
12,244
13,100
12,570
11,849
13,448
12.937
11,338
14,770
13,559
11.913
14,032
150.681
212,028
216,977
161,544
179,601
186,518
183,215
187,870
199,334
190,906
187,788
179,849
184,698
32,479
89,581
5,967
6,607
6,144
4,652
7,505
8,582
8,131
5,428
10,435
5,725
6,611
5,397
3,902
Taxes SJ
Konmarketable
issues 4/
941
771
949
827
962
83
94
93
82
92
91
79
94
83
78
IDS
87
112
Total
credits
377,041
Withdrawals
(transfers to
Federal Reserve
accounts)
14
LjJCT)
CDLZ
Ql
-J
O
O
o
UJQ
LxJ<
CO
o
o
o
CM
O
o
CO
o
o
to
o
o
-^
o
o
04
o
o
o
o
o 00
o
o
CO
o
o
o
o
CM
16
FEDERAL DEBT
Table
[In millions of dollars.
Source:
FD— 1. - Summary
Amount outstanding
End of
fiscal year
or month
of Federal
Debt
Monthly Treasury Statement of Receipts and Outlays of the United States Government]
Securities held by:
Government accounts
Public
debt
securities
Agency
securities
The public
16
FEDERAL DEBT
Table FD-3.
[In
minions of dollars.
- Government
Account Series
Source: Monthly Statement of the Public Debt of the United States]
17
FEDERAL DEBT
Table
[In
End of
fiscal year
or month
FD— 4. -
Interest-Bearing Securities Issued by Government Agencies
minions of dollars.
Source: Monthly Treasury Statement of Receipts and Outlays
of the United States Government and Financial Management Service]
18
FEDERAL DEBT
Table FD-5.
-
Maturity Distribution and Average Length of Marketable Interest-Bearing Public Debt Held by Private Investors
[In millions of dollars.
Source: Office of Government Finance and Market Analysis in the Office of the Secretary]
Maturity classes
Amount
outstanding
privately
held
End of
fiscal year
or month
years
5-10
years
182.237
221,783
294.955
332,808
402,766
48,743
75,749
99,174
130,417
159,383
32,569
33,017
40,826
49,664
62,853
30,127
37,058
48,097
66,658
88,012
4 yrs.
mos.
yrs.
yrs.
4 yrs.
4 yrs.
11 mos.
185 ,675
256,187
314,436
379,579
437,941
472,661
106,798
1,121,977
1,145,271
1,138.109
1,171,662
1,173,579
1,185.675
1,193,376
1,224,074
1,237,340
1,251,882
1,268,648
1,277,307
463,882
457,352
467,260
465,310
470,538
473,060
472,661
480,307
492,916
490,217
492,408
496,927
496,137
366,843
385,122
392,430
379,046
401.502
398,089
402,766
407,877
413,960
423,625
429,808
434,036
435,704
143,745
143.704
145,696
153,878
155,237
151,550
159,383
154,326
156,262
163,049
164.242
165.187
172,974
54,722
54,320
58,372
58,362
62,872
62,867
62.853
62.853
66.154
66.003
66.045
70.810
70.804
77,606
81,478
81,513
81,513
81,513
88,013
88,012
88,013
94,782
94,446
99,379
101,688
101,688
4 yrs.
549 ,863
1981
1982
1983
1984
1985
682,043
862.631
1,017,488
1
1985-Mar
Apr
May
June
July
Aug
Sept
Oct
1
Nov
Dec
1986-Jan
Feb
Mar
,
,
Within
1 year
Table FD-6.
[In
1-5
minions of dollars.
-
10-20
years
20 years
and over
Debt Subject to Statutory Limitation
Source: Monthly Statement of the Public Debt of the United States]
Average length
3
4
4
yrs.
4 yrs.
4
yrs.
4 yrs.
5
4
4
5
5
5
5
5
yrs.
yrs.
yrs.
yrs.
yrs.
yrs.
yrs.
yrs.
1
6
mo.
mos.
11 mos,
8 mos.
8 mos.
10 mos.
10 mos.
9 mos.
mos.
11 mos.
10 mos.
mos.
mos.
mos,
2 mos.
1
mo.
19
K
CO
-rCTi
2^
00
CO
ro
20
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
Farmers
Home
Administration
21
TREASURY FINANCING OPERATIONS, JANUARY- MARCH 1986
J A • U A R r
Auction of Z-rear Notes
the Treasury announced that It would auction $9,500 mnHon
of 2-year notes to refund $8,632 million of notes maturing January 31, 1986,
The notes offered were Treasury
and to raise about $675 million new cash.
Notes of Series V-198S. dated January 31. 1986. due January 31. 1988, with
Interest payable on July 31 and January 31 until maturity.
An Interest rate
of 8-1/8 percent was set after the determination as to which tenders were
accepted on a yield auction basis.
On January
15
Tenders for the notes were received until 1 p.m. EST. January 22, and
toUled $29,258 million, of which $9,517 million was accepted at yields
ranging from 8.16 percent, price 99.937. up to 8.17 percent, price 99.918.
Tenders at the high yield were allotted 77 percent.
Noncompetitive tenders
were accepted In full at the average yield, 8.17 percent, price 99.918. These
totaled $947 tillllon.
Con^etltive tenders accepted from private Investors
totaled $8,570 million.
In
addition
to
the
$9,517 million
of
tenders accepted
1n
the
process, $305 million was awarded at the average price to Federal Reserve
banks as agents for foreign and International monetary authorities.
An
additional $596 mlllton was accepted at the average price from Government
accounts and Federal Reserve banks for their own account.
52-Ueek Bills
On January 10 tenders were Invited for approximately $9,000 million of
364-day Treasury bills to be dated January 23, 1986. and to mature January 22,
The Issue was to refund $8,556 million of 52-week b1 lis maturing
1987.
January 23.
Tenders were opened on January 16. They totaled $25,293 million,
of which $9,033 million was accepted, including $698 million of noncorrpetltlve
tenders from the public and $1,700 million of the bills Issued at the average
price to Federal Reserve banks for themselves and as agents for foreign and
International monetary authorities.
An additional $130 million was Issued to
Federal Reserve banks as agents for foreign and International monetary
authorities for new cash. The average bank discount rate was 7.31 percent.
auction
FEBRUARY
Febmary Quarter 1y Flrunclnq
On January 29 the Treasury announced that It would sell to the public at
auction, under coKf«t1tive and noncompetitive bidding, up to $9,000 million of
3-year notes of Series 0-1989, $7,000 million of 10-year notes of Series A1996. $1,000 million of 10-year foreign-targeted notes of Series B-1996. and
$7,000 million of 30-^ear bonds of 2016 to refund $9,818 million of publicly
held Treasury securities maturing February 15 and to raise $13,200 million new
cash.
An Interest rate of 8 percent was set on the notes of Series 0-1989 after
the determination as to which tenders were accepted on a yield auction
basis.
The notes of Series Q-1989 were dated February 18, 1986, due February
15. 1989. with Interest payable on August 15 and February 15 until maturity.
Tenders for the notes of Series 0-1989 were received until 1 p.m. EST,
February 4, and touled $18,693 million, of which $9,005 million was accepted
at yields ranging from 8.07 percent, price 99.817. up to 8.14 percent, price
Tenders at the high yield were allotted 92 percent.
Noncompetitive
99.635.
tenders were accepted In full at the average yield. 8.11 percent, price
These totaled $807 million.
99.713.
Corrpetltive tenders accepted from
private Investors totaled $8,198 million.
bonds of 2016 were dated February 15. 1986. and Issued February 18. 1986. with
Interest payable on August 15 and February 15 until maturity on February 15,
2016.
Because the issue was backdated to February 15, accrued Interest
determined In the auction of $0.76657 per $1,000 (covering the period from
February 15 to February 18) was payable by purchasers of the bonds.
Tenders for the bonds were received until 1 p.m. EST, February 6, and
totaled $17,776 million, of which $7,004 million was accepted at yields
ranging from 9.27 percent, price 99.795. up to 9.29 percent, price 99.594.
Nonconpetltlve tenders
Tenders at the high yield were allotted 47 percent.
These
were accepted In full at the average yield, 9.28 percent, price 99.695.
totaled $331 million.
Competitive tenders accepted from private Investors
totaled $6,673 million.
In addition to the $7,004 million of tenders accepUd In the auction
process, $250 million was accepted at the average price from Government
accounts and Federal Reserve banks for their own account.
The bonds may be held in STRIPS form.
$800,000.
The minimum par amount required Is
Auction of 2-Year Notes
In addition to the $9,005 million of tenders accepted In the auction
process, $322 million was accepted at the average price from Federal Reserve
banks as agents for foreign and international monetary authorities, and $886
Billllon was accepted at the average price from Government accounts and Federal
Reserve banks for their own account.
An interest rate of 8-7/8 percent was set on the notes of Series A-1996
after the determination as to which tenders were accepted on a yield auction
basis.
The notes of Series A-1996 were dated February 15. 1986, and Issued
February 18, 1986, with Interest payable on August IS and February 15 until
because the issue was backdated to February
mturlty on February 15, 1996.
accrued Interest determined in the auction of $0.73550 per $1,000
15,
(covering the period from February 15 to February 18} was payable by
purchasers of the notes.
Tenders for the notes of Series A-1996 were received until 1 p.m. EST.
February 5, and totaled $15,765 million, of which $7,013 million was accepted
at yields ranging from 8.94 percent, price 99.573. up to 8.99 percent, price
99.249.
Tenders at the high yield were allotted 76 percent.
Noncompetitive
tenders were accepted In full at the average yield, 8.97 percent, price
These totaled $453 million.
99.379.
Competitive tenders accepted from
private Investors totaled $6,560 million.
In addition to the $7,013 million of tenders accepted In the auction
process. $200 million was awarded at the average price to Federal Reserve
banks as agents for foreign and International monetary authorities.
An
additional $350 million was accepted at the average price from Government
accounts and Federal Reserve banks for their own account.
The notes of Series A-1996 may be held 1n STRIPS form.
Is $1,600,000.
The minimum par
amont required
The foreign-targeted notes were Treasury Notes of Series 8-1996, dated
February 15. 1986. and Issued February 18. 1986. with Interest pajnble on
February 15 In each year until maturity on February 15. 1996.
The foreigntargeted notes were sold,
under
competitive bidding only,
foreign
to
institutions or to foreign branches of U.S. financial Institutions. The notes
were Issued In book-entry form and were eligible for exchange into registered
notes of the cotn)an1on domestic Issue. Series A-1996, or for conversion Into
registered foreign-targeted notes after March 22, 1986.
Tenders for the foreign-targeted notes were received until 1 p.m. EST.
February 5. at the Federal Reserve 8ank of New York, and totaled $1,585
The Interest rate of 8-7/8
Billion, of which $1,001 million was accepted.
percent was established in the auction of the companion domestic issue.
Accepted yields, based on an annual Interest payment, ranged from 9.04
percent, price 98.940, up to 9.16 percent, price 98.182.
Tenders at the high
yield were allotted 40 percent. The average yield of the accepted coBpetltlve
tenders was 9.12 percent, price 98.434, equivalent to 8.92 percent on a
Because
seirlannual payment basis.
Noncoofietitlve tenders were not accepted.
the issue was backdated to February 15. accrued Interest of $0.73958 per
$1,000 (covering the period from February 15 to February 18) was payable by
purchasers of the notes.
An Interest rate of 9-1/4 percent was set on the bonds of 2016 after the
determination as to which tenders were accepted on a yield auction basis. The
On February 12 the Treasury announced that It would auction $9,500
of 2-year notes to refund $8,479 million of publicly held notes
The
maturing February 28. 1986, and to raise about $1,025 million new cash.
notes offered were Treasury Notes of Series W-1988. dated February 28, 1986.
due February 29, 1968, with interest payable on the last day of August and
An interest rate of 8 percent was set after the
February until maturity.
determination as to which tenders were accepted on a yield auction basis.
minion
Tenders for the notes were received until 1 p.m. EST, February 19, and
totaled $22,319 million, of which $9,530 million was accepted at yields
ranging from 7.99 percent, price 100.018, up to 8.03 percent, price 99.946.
NoncotrpetUlve tenders
Tenders at the high yield were allotted 100 percent.
were accepted In full at the average yield. 8.02 percent, price 99.964. These
Coopetitlve tenders accepted from private Investors
totaled $826 million.
totaled $8,704 million.
In addition to the $9,530 million of tenders accepted In the auction
process, $375 million was accepted at the average price from Federal Reserve
banks as agents for foreign and International monetary authorities, and $662
million was accepted at the average price from Government accounts and Federal
Reserve banks for their own account.
Auction of 5-Year Z-MonU) Notes
On February 18 the Treasury announced that It would auction $7,500
The notes offered were
million of 5-year 2-month notes to raise new cash.
Treasury Notes of Series J-1991. dated March 5. 1986. due May 15. 1991. with
An interest rate
interest payable on November 15 and Hay 15 until maturity.
of 8-1/8 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 p.m. EST, February 26, and
totaled $19,156 million, of which $7,520 million was accepted at yields
ranging from 8.10 percent, price 100.043, up to 8.13 percent, price 99.918.
Noncompetitive tenders
Tenders at the high yield were allotted 43 percent.
were accepted in full at the average yield, 8.12 percent, price 99.960. These
totaled $450 minion.
Competitive tenders accepted from private investors
totaled $7,070 million.
52-lteek Bills
On February 7 tenders were Invited for approximately $9,000 minion of
364-day Treasury bills to be dated February 20. 1986, and to mature February
The Issue was to refund $8,525 million of 52-week bills maturing
19, 1987.
Tenders were opened on
February 20 and to raise about $475 million new cash.
They totaled $23,671 million, of which $9,003 million was
February 13.
accepted. Including $579 million of noncompetitive tenders from the public and
$2,375 minion of the bills Issued at the average price to Federal Reserve
banks for themselves and as agents for foreign and International monetary
An additional $130 million was Issued to Federal Reserve banks
authorities.
as agents for foreign and International monetary authorities for new cash.
The average bank discount rate was 7.19 percent.
22
TREASURY FINANCING OPERATIONS, JANUARY-MARCH 1986
Auction of 2-Ye«r Notes
On March 12 the Treasury announced that 1t would auction $9,500 million
of 2-year notes to refund $8,348 million of publicly held notes maturing March
The notes offered were
31, 1986, and to raise about Jl,150 million new cash.
Treasury Notes of Series X-1988, dated March 31, 1986. due March 31. 1988.
with Interest payable on September 30 and March 31 until maturity.
An
Interest rate of 7-1/8 percent was set after the determination as to which
were
yield
auction
basis.
tenders
accepted on a
Tenders for the notes were received until 1 p.m. EST. March 19, and
totaled $21,821 million, of which $9,502 million was accepted at yields
ranging from 7.17 percent, price 99.918, up to 7.21 percent, price 99.844.
Tenders at the high yield were allotted 25 percent.
Noncoinjetltlve tenders
were accepted In full at the average yield, 7.19 percent, price 99.881. These
Conpetitive tenders accepted from private investors
totaled $773 mi llion.
totaled $8,729 million.
In addition to the $9,502 million of tenders accepted in the auction
process. $305 million was accepted at the average price from Federal Reserve
banks as agents for foreign and international monetary authorities, and $1,000
million was accepted at the average price from Government accounts and Federal
Reserve banks for their own account.
competitive tenders were accepted in full at the average yield, 7.29 percent,
price 99.863,
These totaled $447 minion.
Competitive tenders accepted from
private investors totaled $6,593 million.
In addition to the $7,040 million of tenders accepted In the auction
process, $465 million was accepted at the average price from Federal Reserve
banks as agents for foreign and international monetary authorities, and $458
million was accepted at the average price from Government accounts and Federal
Reserve banks for their own account.
An interest rate of 7-3/8 percent was set on the notes of Series F-1993
after the determination as to which tenders were accepted on a yield auction
basis.
The notes of Series F-1993 were dated April 3, 1986, due April 15,
1993, with interest payable on October 15 and April 15 until maturity.
Tenders for the notes of Series F-1993 were received until 1 p.m. EST,
March 26, and totaled $15,996 million, of which $6,505 million was accepted at
yields ranging from 7.44 percent, price 99.640. up to 7.50 percent, price
Tenders at the high yield were allotted 59 percent.
99.318.
Noncompetitive
tenders were accepted In full at the average yield. 7.48 percent, price
These totaled $314 million.
99.425.
Competitive tenders accepted from
private Investors totaled $6,191 million.
52-Heek Bills
Auction of 4-Year and 7-Tear Motes
On March 18 the Treasury announced that it would sell to the public
auction, under conpetitive and noncompetitive bidding, up to $7,000 million
4-year notes of Series N-1990 and $6,500 million of 7-year notes of Series
1993 to refund $3,746 million of publicly held 4-year notes maturing March
and to raise about $9,750 million new cash.
at
of
F31
The Treasury announced that It would not offer the 20-year 1-month bond
Issued in the same offering with the 4-year and 7-year notes.
The
to allow for
the issue of both the 20-year l-month bond and the 30-year bond scheduled for
issue as part of the May quarterly financing.
Accordingly, the Department
decided to preserve Its remaining authority for the 30-year bond.
usually
rewlnlng $8.4 billion of bond-issuing authority was not enough
On March 7 tenders were invited for approximately $9,000 million of 364day Treasury bills to be dated March 20, 1986. and to mature March 19, 1987.
The issue was to refund $8,529 million of 52-week bills maturing March 20 and
to raise about $475 million new cash.
Tenders were opened on March 14.
They
totaled $22,499 million, of which $9,014 million was accepted, including $549
million of noncompetitive tenders from the public and $2,450 million of the
bills issued at the average price to Federal Reserve banks for themselves and
as agents for foreign and international monetary authorities.
An additional
$200 million was Issued to Federal Reserve banks as agents for foreign and
international monetary authorities for new cash.
The average bank discount
rate was 6.61 percent.
Cash Hanage«ent Bills
An Interest rate of 7-1/4 percent was set on the notes of Series N-1990
after the determination as to which tenders were accepted on a yield auction
basis.
The notes of Series N-1990 were dated March 31, 1986, due March 31.
1990, with interest payable on September 30 and March 31 until maturity.
Tenders for the notes of Series N-1990 were received until 1 p.m. EST.
March 25. and totaled $26,754 million, of which $7,040 million was accepted at
7.29 percent, price 99.863, which represented the full range of accepted
bids.
Conpetitive tenders at 7.29 percent were allotted 75 percent.
Non-
On March 27 tenders were invited for approximately $15,000 million of 14day bills to be issued April 3, 1986. representing an additional amount of
The issue was to raise
bills dated April 18, 1985, maturing April 17. 1986.
new cash.
Tenders were opened on April 1.
They totaled $62,801 million, of
The average bank discount rate was 7.22
which $15,030 million was accepted.
percent.
23
PUBLIC DEBT OPERATIONS
PDO-1. -
Table
Maturity Schedule of Interest-Bearing Marketable Public Debt Securities Other
than Regular Weekly and 52-Week Treasury Bills Outstanding, Mar. 31, 1986
[In
mintons
of dollars.
Source: Monthly Statement of the Public Debt of the United States,
and Office of Government Finance and Market Analysis In the Office of the Secretary]
Amount of maturities
Amount of maturities
Held by
Date
of final
naturt ty
Gov't
accounts and
Federal Reserve banks
U.S.
Descrl ption
Issue
date
Held by
other
nvestors
1
ll-3/4t-T
13-3/41-D
7-7/81-A
9-3/ai-M
12-S/8I-U
Apr.
Hay
Hay
Hay
May
H-7/ei-H
June
June
July
Aug.
Aug.
Aug.
Sept.
Sept.
Oct.
Nov.
Nov.
Nov.
Nov.
Nov.
Dec.
Dec.
131-V
12-5/8»-K
ll-3/8t-N
8I-B
12-3/8J-X
12-l/4t-J
lI-7/ei-Y
11-5/8I-Z
16-1/8I-F
6-l/8t
13-7/8t-E
lU-P
10-3/8J-AB
lOI-K
9-7/8S-AC
Note
Note
Note
Note
Note
Note
Note
Note
Note
Note
Note
Note
Note
Note
Note
Bond
Note
Note
Note
Note
Note
4/30/84
3/04/81
5/17/76
5/16/83
5/31/64
7/06/82
7/02/84
7/31/84
8/15/83
8/16/76
8/31/84
9/30/82
10/01/84
10/31/84
9/08/81
11/15/71
6/03/81
11/15/83
11/30/84
12/31/82
12/31/84
9.208
3,460
5.219
7,330
9,192
4,758
9,933
10,231
8,862
9,515
9,859
5,813
9,612
9,802
3,469
1,196
3,206
7,650
10.052
5,908
10.112
Total
1,129
128
1,158
534
645
413
900
1,253
2,100
1,987
859
244
790
529
277
864
97
1,126
559
343
600
8,079
3,332
4,061
6,796
8,547
4,345
9,033
8,978
6,762
7,528
9,000
5,569
8,822
9,273
3,192
332
3,109
6,524
9,493
5,565
9,512
16.535
1987
9-3/4t-R
9I-B
10-7/St-M
12-3/4J-D
lOl-S
10-3/4I-T
10-1/4I-H
9-3/4J-U
12J-C
12-l/2«-N
Jan.
Feb.
Feb.
Feb.
Feb.
Mar.
Har.
Apr.
Hay
May
May
May
June
14t-E
June
July
Aug.
Aug.
Aug.
Sept. 30.
Sept. 30.
Oct.
31.
Nov.
IS.
Nov.
15.
Nov.
15.
Nov.
30.
Dec.
31.
Dec.
31.
9-1/8I-V
10-l/2t-J
8-1/21-W
8-7/8I-X
13-3/4I-F
12-3/8J-P
8-7/8I-Y
11-1/ei-K
9J-Z
8-7/et-Ae
7-5/ei-A
12-5/8I-G
UI-O
8-1/21-AC
11-1/41-L
7-7/81-AD
Note
Note
Note
Note
Note
Note
Note
Note
Note
Note
Note
Note
Note
Note
Note
Note
Note
Note
Note
Note
Note
Note
Note
Note
Note
Note
Note
1/31/85
2/15/79
2/15/84
12/02/81
2/28/85
4/01/85
3/31/83
4/30/85
2/15/80
5/15/84
3/03/82
5/31/85
6/30/83
7/01/85
7/31/85
6/02/82
8/15/84
9/03/85
9/30/83
9/30/85
10/31/85
11/15/77
9/07/82
11/15/84
12/02/85
1/03/84
12/31/85
Total ...
10,212
6,238
9,166
3,437
10,087
10,349
6,522
9,992
2,472
7,831
3,519
10,446
6,435
10,674
10,166
4,078
7,717
10,450
6,539
10,095
10,298
2,387
5,384
8,187
10,699
6,580
10.524
210,484
917
717
303
750
974
616
310
1,265
758
655
600
9,487
4,569
6,751
3,390
9,442
9,512
6,207
9,545
1,974
7,121
3,470
9,856
6,082
9,875
9,587
3,997
6,800
9,733
6,236
9,345
9,324
1,771
5,074
6,922
9.941
5,925
9,924
18,624
191,860
5
2.706
9,935
7,404
5,032
9,978
6,075
9,875
2,812
8.572
5.920
2,394
6,187
3,382
5,778
9.103
6,444
725
1,669
2,415
47
645
837
315
447
498
710
49
590
353
799
579
81
1988
12-3/8I-C
8-1/8I-V
10-3/ei-R
10-1/8X-G
8t-K
121-L
7-1/8I-X
13-1/41-D
lOI-S
9-7/8J-H
8-1/4J-A
13-5/ei-M
Note
Note
Note
Note
Note
Note
Note
Note
Note
Note
Note
Note
14I-E
Note
10-1/2J-J
Note
9-1/21-T
Note
11-3/6I-N
Note
1/11-3/8I-P Note
T5-3/8I-F
Note
Note
11-3/4I-K
8-3/41-B
Note
8-5/8I-U
Note
10-5/81-0
Note
Jan.
Jan.
Feb.
Feb.
Feb.
Mar.
Har.
Apr.
Hay
May
Hay
June
July
Aug.
Aug.
Sept.
Sept.
Oct.
Nov.
Nov.
Nov.
Dec.
1/05/81
1/31/86
2/15/85
12/02/82
2/28/86
4/02/84
3/31/86
4/06/81
5/15/85
3/01/83
5/15/78
7/02/84
7/07/81
6/03/83
8/15/85
10/31/84
10/31/84
10/14/81
9/06/83
11/15/78
11/26/85
12/31/84
Total
1989
Jan.
Feb.
Feb.
30.
15.
15.
15.
31.
.
Note
Note
Note
Note
Note
Note
Note
Note
Note
Note
Note
Note
Note
Note
Note
1/13/82
12/01/83
2/18/86
4/01/85
4/07/82
5/15/79
3/05/84
7/01/85
7/08/82
6/01/84
11/01/85
9/29/82
9/04/84
11/15/79
12/31/85
596
1,085
6
662
76«
1,000
160
1.415
35
1,754
536
87
5
1,825
378
753
753
3.474
6,028
3,446
9,179
6,808
141,596
I4-5/81-C
11-3/8I-G
81-0
11-1/41-L
14-3/81-D
9-1/41-A
11-3/4I-H
9-5/8J-K
14-1/2I-E
13-7/81-J
9-3/8I-N
11-7/8I-F
12-3/4I-K
10-3/41-8
e-3/8t-P
Total,.
2,710
10,531
8,489
5,040
10,640
6,837
10,875
2,972
9,987
5,955
4,148
6,723
3,469
5,783
10,928
6.822
3,508
6.244
10.297
6,986
3,348
2,628
6,068
7,486
4,723
6,283
7,302
4,237
6,552
5,779
7,490
276
63
1,139
300
391
12,482
886
370
107
459
500
149
110
350
2
88
1,942
171
3,198
5,965
2,306
8,879
6,417
l±±
3,296
6,244
9,411
6,616
3,241
2,169
6,068
6,986
4,574
6,173
6,952
4,235
6,464
3,837
7,319
Jan.
Feb.
Feb.
Feb.
Har.
Apr.
15.
15.
31.
.
15..
15.
Nov.
Nov.
15.
15.
Nov.
.
15..
Hay
May
July
Aug.
Aug.
Aug.
Oct.
1991
Jan,
Feb.
Apr.
Hay
May
July
Aug.
Oct.
.
15..
.
15..
15.
.
15..
IS..
15..
15..
15.
15.
15.
15.
15.
.
.
.
.
.
.
.
15..
15..
15..
15..
1992
Jan.
Feb.
Apr.
15.
.
15..
15..
Hay
15..
July
15..
Aug. 15, 87-92
Aug.
15
Oct.
15
Nov.
15
1993
Gov't
accounts and
Federal Reserve banks
U.S.
Description
Is
sue
date
1990
1966
Har.
Apr.
Hay
Hay
June
July
Aug.
Sept.
Oct.
Nov.
Nov.
Dec.
Date
of final
maturl ty
All
10-1/2J-C
llt-G
1/llt-H
7-1/21
7-1/41-N
10-1/21-D
11-3/et-J
8-1/41
10-3/41-E
10-3/41-A
9-7/8t-K
1/9-7/81-L
Tl-l/21-F
13I-B
9-5/81-M
al
All
other
Investors
24
PUBLIC DEBTOPERATIONS
Table PDO-1.
-
Maturity Schedule of Interest-Bearing Marketable Public Debt Securities Other
than Regular Weekly and 52-Week Treasury
Bills
Outstanding, Mar. 31, 1986-Con.
[In Hinlions of dollars]
Amount of maturities
Amount of maturities
Held by
Date
of final
matorl ty
Gov't
accounts and
Federal Reserve banks
U.S.
Desert pt1on
Issue
date
Total
Held by
All
other
Investors
Date
of final
maturity
Descrl ption
Issue
date
al
2001
Feb.
15
II-3/41
Hay
13-1/61
15
Aug. 15,96-01 81
13-3/81
Aug.
15
Nov.
15-3/41
15
Bond
Bond
Bond
Bond
Bond
1/12/61
4/02/81
8/16/76
7/02/81
10/07/81
Total
1.501
1.750
1.485
1.753
1.753
13
51
1,488
1.699
741
114
136
744
1,639
1.617
8.242
1.055
7.187
1.759
2.753
88
106
1.671
2.647
4.512
194
3.007
3,249
3.501
7.260
57
37
100
2.950
3.245
3,464
7,160
17.017
198
16,819
3.755
4.000
8.302
114
3,641
3,989
8,302
16.057
125
4.224
4,261
9,270
2,156
17,755
2,190
2002
Feb.
Nov.
15
15....
I4-1/4I
ll-5/8t
Bond
Bond
1/06/82
9/29/82
Total
2003
Feb.
May
Aug.
Nov.
15
15
15
15
10-3/41
10-3/41
11-1/8S
11-7/81
Bond
Bond
Bond
Bond
1/04/83
4/04/83
7/05/83
10/05/83
Bond
Bond
Bond
4/05/84
7/10/84
10/30/84
Total
4
2004
day
Aug.
Nov.
15
15
15
12-3/8t
13-3/41
2^/11-5/81
Total
2005
May 15.00-05 8-l/4t
nay
15
2/12t
Aug.
15
T/10-3/4S
Bond
Bond
Bond
5/15/75
4/02/85
7/02/85
Total
11
^
22
I_2_
2,068
4,239
9,258
15.565
2006
Feb.
15
3/9-3/ei
^
Bond
1/15/86
4,756
Bond
Bond
2/15/77
11/15/77
4,234
1,495
1,568
265
5,729
1,833
4.756
2007
Feb. 15. 02-07 7-5/ei
Nov. 15, 02-07 7-7/81
Total
2.666
1,230
Gov't
accounts and
Federal Reserve banks
U.S.
2,103
5.230
All
other
Investors
25
PUBLIC DEBT OPERATIONS
Table PDO-2.
mmions.
[Dollar amounts <n
Number of
days to
maturity 1/
Regular weekly:
(13-week and 26-week)
1985-Dec.
5
12
19
1986-Mar.
June
Mar.
June
Mar.
June
26
Mar.
2
Apr.
6
June
1986-Jan.
July
9
Apr.
July
16
Apr.
23
July
Apr.
July
30
Feb.
6
Hay
July
May
Aug.
Mar.
13
May
20
Aug.
May
Aug.
27
May
6
13
20
Aug.
June
Sept
June
Sept.
June
Sept,
27
June
Sept
11
Offerings of Bills
Source: Monthly Statement of the Public Debt of the United States and allotments]
Description of new issue
Maturity
date
-
Amounts of bids accepted
Amount of
Total
On com-
On noncom-
bids
amount
petitive
basis 2/
petitive
basis 3/
tendered
Amount
maturing on
issue date
of new
offering
Total
unmatured
issues outstanding after
new issues
26
PUBLIC DEBT OPERATIONS
Table PDO-2.
-
Offerings of Bills-Continued
total bids accepted
Issue
date
Average
price per
hundred
Regular weekly:
1985-Dec.
5...
12...
19...
26...
1986-Jan.
2...
9...
16...
23...
30...
Feb.
6...
13...
20...
27...
Mar.
6...
13...
20...
27...
SZ-veek:
1985-Har.
Apr.
May
June
Ouly
Aug.
Sept.
Oct.
Nov.
Dec.
1986-Jan.
Feb.
Mar.
21...
18...
16...
13...
11...
8...
5...
3...
31...
29...
26...
23...
20...
20...
98.183
Average
discount
rate
(percent)
On competitive bids accepted
Average
Investment
rate £/
(percent)
High
Discount
rate
(percent)
Low
Price per
hundred
Discount
rate
(percent)
Price per
hundred
27
PUBLIC DEBT OPERATIONS
Table POO-3.
-
Public Offerings of Marketable Securities Other than Regular Weekly Treasury Bills
[Dollar amounts In mJIHons.
Date subscrip-
Source:
Bureau of the Public Debt]
28
PUBLIC DEBT OPERATIONS
Table PDO-3.
Public Offerings of Marketable Securities Other than Regular
[Dollar amounts In
Date subscrip-
mmtons]
Weekly Treasury Bills— Continued
29
PUBLIC DEBT OPERATIONS
Table PDO-4.
-
Allotments by Investor Classes on Subscriptions for Public Marketable Securities
Part A
[In mi
nions of dollars.
-
Other than
Source:
Bills
Subscription ana arTotment reports]
Anotments by Investor classes
Amount Issued
Date of
flnancIng
Description of securities
For
cash
In
exchange
for
other
securlties
11-3/41
11-1/2
Note
Note
Note
12
12-3/8
Note
4/04/84
12-3/8
Bond
4/05/84
Note
11-3/4
4/30/84
12-1/2
Note
5/15/84
13-1/8
Note
8ond
13-1/4
12-5/8
Note
5/31/84
13-7/8
Note
6/01/84
Note
13
7/02/84
Note
13-5/8
Note
13-3/4
7/09/84
Bond
13-3/4
7/10/84
12-5/8
Note
7/31/84
12-3/8
Note
8/15/84
12-5/8
Note
12-1/2
Bond
Note
12-3/8
8/31/84
12-3/4
Note
g/04/84
Note
U-7/S
10/01/84
Note
12-1/4
10/23/84
11-5/8
Bond
10/30/64
Note
11-5/8
10/31/84
Note
U-3/8
11-3/8
Note
Note
11
11-5/8
Note
11-3/4
Bond
10-3/8
Note
11/30/84
Note
11
12/03/84
Note
11
9-7/8
Note
12/31/84
10-5/8
Note
11-5/8
Note
1/04/85
Bond
1/08/85 8/11-5/8
9-3/4
Note
1/31/85
10-3/8
Note
2/15/85
Note
11-1/4
11-1/4
Bond
Note
10
Z/2B/85
11-3/8
Note
3/01/85
10-3/4
Note
4/01/85
11-1/4
Note
11-3/4
Note
Bond
12
9-3/4
Note
4/30/85
Note
10
5/15/85
11-1/4
Note
Bond
8/11-1/4
Note
5/31/85 ~ 9-1/8
Note
9-7/8
6/04/85
9-7/8
Note
Note
8-1/2
7/01/85
9-5/8
Note
10-3/8
Note
7/02/85
Bond
10-3/4
8-7/8
Note
7/31/85
9-1/2
Note
Note
10-1/2
8/15/85
10-5/8
Bond
8-7/8
Note
9/03/85
9-5/8
Note
9/03/85
Note
g/30/85
9
8-7/8
Note
10/31/85
Note
9-3/8
11/01/85
9-3/4
Note
8/10-3/4 Bond
11/04/85
Note
11/26/85
T-5/8
Note
9-1/2
11/29/85
Bond
9-7/8
8-1/2
Note
12/02/85
9-1/8
Note
12/03/85
7-7/8
Note
12/31/85
8-3/8
Note
8-3/4
Note
9-3/8
Bond
Note
8-1/8
1/31/86
8-7/8
Note
2/15/86
Note
8-7/8
9-1/4
Bond
Note
2/18/86
Note
2/28/86
8-1/8
Note
3/05/86
Now
7-1/8
3/31/86
7-1/4
Note
3/05/84
4/02/84
5/15/89-K 6.068
800
3/31/86-S 8.537
597
3/31/88-L 6.240
4/15/91-E 5.377
5/15/04 3.755
826
4/30/86-1 8.382
700
5/15/87-N 7.131
401
5/15/94-A 5.268
- 5/15/09-14
257
4.750
450
5/31/86-0 8.742
8/15/89-J 6,283
900
6/30/86-V 9.033
6/30/88-H 6,200
523
7/15/91-F 5.461
8/15/04 4.000
7/31/86-H 9.048 ,,183
8/15/87-P 6.917
800
500
8/15/94-8 5,800
- 8/15/09-14
4.796
332
643
e/31/86-X 9.216
- 11/15/89-K
6.552
668
9/30/e6-Y 8,944
- 10/15/91-G
5.745
11/15/04 4.015
- 10/31/86-2
529
9,273
300
9/30/88-N 6.274
9/30/88-P 1,001
- 11/15/87-0
6,972 1.215
- 11/15/94-C
850
5,809
-11/15/09-14 5,256
750
548
-11/30/86-A8 9,504
2/15/90-G 6,947
_._
2/15/90-H rl.OOI
600
-12/31/86-AC 9.512
- 12/31/88-0
6,442
366
1/15/92-0 5,759
11/15/04 4,287
1/31/87-R 9,587
2/15/88-R 7,489 1,000
600
2/I5/95-A 6,334
493
2/15/15 5,749
645
2/28/87-S 9.442
5/15/90-J 7.029
750
3/31/87-1 9.599
365
3/31/89-L 6.621
4/15/92-E 5.868
5/15/05 4.261
347
4/30/87-U 9.645
5/15/88-S 8,587 1,400
600
5/15/95-8 6,527
405
2/15/15 6,021
540
5/31/87-V 9,906
8/15/90-K 7.196
8/15/90-L 1.000
799
6/30/87-K 9,875
6/30/89-M 6,986
500
7/15/92-F 6.299
8/15/05 4.513
479
7/31/87-X 9,687
..
8/15/88-T 9,103 1,825
800
8/15/95-C 7,156
650
8/15/15 r6,501
717
8/31/87-Y 9,733
- 11/15/90-n
7,843
740
9/30/87-2 r9,355
942
-10/31/87-A8 9,356
9/30/89-N 6,952
350
- 10/15/92-G
6.287
8/15/05 4.757
- 11/15/88-U
300
8.879
- 11/15/95-D
184
7.135
131
11/15/15 6,769
758
-11/30/87-AC r9,94I
2/15/91-H 7,687
-12/31/87-AD r9,924
600
- 12/31/89-P
171
7,319
1/15/93-E 6,515
2/15/06 4,756
596
1/31/88-V 9,935
350
Z/15/96-A 7,224
2/15/96-8 1,001
250
2/15/16 7,017
886
2/15/89-0 9,411
662
2/29/88-W 9,978
318
5/15/91-J 7,479
9.875 1,000
3/31/88-!(
458
3/31/90-N 7,518
U.S. Goveminent
accounts
and
Federal
clal
banks
_3/
Indlviduals
£/
Insurance
conpanies
Mutual
savIngs
banks
Corporations
y
Reserve
banks 2/
4,531
2,099
3,424
2,274
1.240
1.039
2.971
2,690
1,491
534
2,803
1,735
2,932
2,157
1,342
3.390
2.019
255
578
578
iiZ
1,113
706
804
231
243
679
370
721
592
395
101
861
549
232
127
803
180
706
277
113
419
313
1,215
850
750
548
r2,572
2,262
1,128
r3,095
2,913
424
233
236
r468
267
600
rl,641
2,038
1,648
497
267
275
704
141
4,881
4,661
1,935
1,170
3,148
2.478
2,611
707
1,376
1.419
2.134
3.020
1.769
1,519
2,302
2,264
456
857
r3,383
r2,157
rl,396
rl,332
r2,885
r2,456
r2,041
r731
r2,749
rl,319
r2.860
r3,170
2,729
958
1,257
1.512
1,063
1,875
4.034
1,088
r2,055
rl,881
356
407
459
304
r490
r618
417
405
r555
329
520
559
402
498
-
800
-
597
1
Coimier-
826
700
401
257
450
900
523
1,183
800
500
332
643
668
529
300
366
625
1,000
600
493
645
750
365
347
1,400
600
405
540
799
500
479
1,825
800
650
717
740
942
350
300
184
131
758
600
171
1,827
4,290
2,322
2,217
677
2.973
3.151
1.871
1.513
pi, 534
596
350
250
886
662
318
1,000
458
p372
p2,177
pi, 757
p412
pi ,812
p2,010
pi. 067
P2,651
p248
251
190
469
277
696
541
268
247
611
726
440
356
544
480
7
50
356
434
395
386
43
194
491
373
276
616
99
594
331
197
83
455
355
662
1,011
123
20
69
9
806
35
11
2
60
1
13
27
277
155
362
552
12
400
12
r30
46
130
5
255
719
375
468
273
60
23
101
7
3
5
'3
6
40
52
6
9
8
42
46
56
11
487
16
206
11
15
10
33
37
48
68
265
7
1
10
153
76
*
2
21
33
5
II
113
1
14
6
1
1
16
1
7
11
17
20
31
3
19
20
14
3
4
2
50
15
32
42
23
13
7
9
142
3
4
37
13
25
10
2
110
52
106
1
50
10
51
2
198
13
21
33
6
61
30
22
29
16
15
101
14
16
7
40
78
9
1
125
16
49
10
60
11
1
2
9
33
36
15
28
15
14
9
40
67
41
93
11
32
6
8
56
84
r6
25
91
56
118
2
38
4
10
30
74
59
28
2
1
63
143
6
r9
P7
25
18
34
rl4
Pl
Pl9
p205
P7
p40
Pl9
PU
pU
pll
p3
P2
p4e8
6
6
96
30
2
51
2
21
171
1
15
9
13
21
37
5
11
r28
28
16
10
3
1
16
35
24
92
10
25
14
1
149
15
64
666
4
1
123
2
139
3
476
959
1,635
552
788
35
1
15
6
124
104
767
343
719
166
846
578
1.365
591
611
858
601
49
3
13
22
1
8
2
10
5
3
4
3
12
147
1
9
10
5
1
r766
pI50
p265
p550
p725
r7
1
P2
p2
P5
P3
P31
p391
p426
p73
pl97
p218
p668
p2
P5
p4
P7
plO
pl
P2
rl50
3
9
-
Dealers
and
brokers
3.234
2.703
2.287
2,332
1,885
4.053
1,916
2,382
2,682
2,204
3.182
10
9
2
5
Other
funds
121
109
142
122
451
881
513
694
227
397
323
195
157
110
254
54
67
5
p624
p327
pie7
p344
p381
p683
pl54
p62
Pension
and retirement
funds
13
2
449
361
262
r460
r332
r290
p8S3
plS5
State and local
governments 6/
712
212
290
456
55
12
191
551
Private
pension
and retlrement
funds
All
other
7/
30
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
rPollar amounts in im'Tlions.
Source: Subscription and allotiiient reports]
31
U.S.
SAVINGS BONDS AND NOTES
U.S. savings notes were on sale Nay 1, 1967, through June 30,
The notes were eligible for purchase by individuals with the
The principal terms
simultaneous purchase of series E savings bonds.
and conditions for purchase and redeiptlon and infonnation 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.
Series EE bonds, on sale since Jan. 1, 1980, are the only savings
bonds currently sold. Series HH bonds are issued in exchange for series
Series A-D were sold from
E and EE savings bonds and savings notes.
Series E was on sale fron May 1,
Mar. 1, 1935, through Apr. 30, 1941.
through Dec. 31, 1979 (through June 1980 to payroll savers
1941,
only).
Series F and G were sold fro* May 1, 1941, through Apr. 30,
Series H was sold from June 1, 1952. through Dec. 31, 1979.
1952.
HH
bonds were sold for cash from Jan. 1, 1980. through Oct. 31,
Series
1982. Series J and K were sold from May 1, 1952, through Apr. 30, 1957.
Table
1970.
SBN-1. - Sales and Redemptions by
Series, Cumulative through Mar. 31,
1986
minions of dollars. Source: Monthly Statement of the Public Debt of the
United States; flarket Analysis Section, United States Savings Bonds Division]
[In
Amount outstanding
Accrued
di scount
Savings bonds:
-.
-
Series A-D 2/
Series E. CF. H. and HH.
Series F and G
Series J and K
Savings notes
Total
3.949
Sales plus
accrued
discount
Redemptions 1/
Interestbearing debt
Matured
non-interestbearing debt
32
U.S.
Table SBN-3.
-
SAVINGS BONDS AND NOTES
Sales and Redemptions by Period, Series
E, EE, H,
and HH
[In millions of dollars.
Source: Monthly Statement of the Public Debt of the
United States; Market Analysis Section, United States Savings Bonds Division]
Redemptions
Sales
Accrued
discount
Sales plus
accrued
discount
Sales
price
Series
Fiscal years:
1941-83
1984
1985
214,174
3,907
5.025
Calendar years:
1941-63
1984
1985
19e5-Mar
Apr
May
June
July
Aug
Sept
Oct
Nov
Dec
1986-Jan
Feb
Mar
215,038
3,988
5,444
430
493
474
388
506
513
460
481
446
442
575
520
600
78,645
E
and EE
Accrued
discount
Exchange of
E bonds for
N and HH bonds
Amount outstanding
Interestbearing debt
Matured
non-interestbearing debt
33
OWNERSHIP OF FEDERAL SECURITIES
Table OFS-1.
-
Distribution of Federal Securities by Class of Investors and Type of Issues
[In millions of dollars.
Source: Ftnanclal Management Service]
Interest-bearing public debt securities
End of
fiscal year
or month
1981
1982
1983
1984
1985
19e5-Mar
Apr
May
June
Ou1y
tug
Sept
Oct
Nov
Dec
19e6-J»n
Feb
Mar
Total
Federal
Held by U.S. Government accounts
Total
Public
Issues
held by
Federal
Reserve
banks
securities
outstanding
outstanding
1.003.942
1.146.987
1.381,886
1.576.748
1.827.470
996.495
1.140,883
1.375.7S1
1. 559. 570
1.821.010
208,076
216,404
239,023
263.084
316.545
9,016
7,944
5,887
4,994
6,134
199,060
208,460
233.136
258,090
310,411
124,330
134,393
155,423
155,018
169,702
1,715.148
1.737.119
1,758,330
1,779,026
1,805,324
1,822,387
1,827,470
1.836.210
1.904.542
1.950.293
1.966.846
1.983.428
1,991,098
1.695.223
1.730,666
1.751,836
1,759,826
1,798,912
1.806,905
1.821,010
1.829.885
1.868.844
1.943.402
1.960.129
1,976,744
1,984,224
295.499
300.434
30S.313
314,156
316,533
317,437
316,545
313,898
336,370
348,859
352,752
353.326
352.557
4,981
4,963
4.687
3.905
6.059
6,003
6,134
14,824
20.322
20.381
20,194
20,148
20,183
290.518
295.471
300.626
310.251
310,474
311.434
310,411
299,074
316,048
328.476
332.558
333.178
332,374
160,983
173,913
164,245
169,110
167,095
170,109
169,702
168,705
169,168
181,327
187.843
184,724
184,807
Marketable
Interest-bearing public debt securl ties—Con.
End of
fiscal year
or month
Held by private Investors
Total
Marketable
Nonmarketable
Matured
public
debt
and debt
bearing no
Interest
Honmarketable
Agency securities
ToUl
outstanding
Held by
34
MARKET BID YIELDS ON TREASURY SECURITIES
Table
MBY-1. - Treasury Market
[Source:
Date
3-mo.
Bid Yields at Constant Maturities,
Bills,
Notes, and Bonds*
Office of Government Finance and Market Analysis in the Office of the Secretary]
6-mo.
1-yr.
2-yr.
3-yr.
5-yr.
7-yr.
10-yr.
20-yr.
30-yr.
10.09%
9.39
8.69
8.77
8.94
8.98
8.86
8.58
8.15
6.14
7.97
11.01%
10.34
9.60
9.70
9.81
7.21
10.49%
9.75
S.05
9.18
9.31
9.37
9.25
8.88
8.40
8.41
8.10
7.30
11.34%
10.72
10.08
10.16
10.20
10.24
10.11
9.62
9.11
9.03
8.58
7.67
11.43%
10.85
10.16
10.31
10.33
10.37
10.24
9.78
9.26
9.19
8.70
7.78
11.69%
11.19
10.57
10.68
10.73
10.80
10.67
10.24
9.75
9.59
9.08
8.09
11.47%
11.05
10.45
10.50
10.56
10.61
10.50
10.06
9.54
9.40
8.93
7.96
9.91
8.92
8.67
9.01
8.96
8.88
8.70
8.46
7.98
7.99
7.71
6.92
10.39
9.27
9.08
9.47
9.33
9.27
9.06
8.70
8.22
8.25
7.79
7.02
10.91
9.68
9.65
9.98
9.74
9.73
9.47
9.07
8.49
8.53
7.91
7.19
11.31
10.15
10.08
10.41
10.17
10.15
9.82
9.47
8.87
8.88
8.05
7.21
11.41
10.28
10.25
10.57
10.28
10.31
10.01
9.59
9.00
9.08
8.13
7.39
11.70
10.70
10.61
10.89
10.67
10.75
10.45
10.07
9.50
9.48
8.34
7.46
11.48
10.58
10.47
10.70
10.48
10.57
10.28
9.86
9.27
9.34
8.27
7.44
Monthly average
1985-Apr
May
June
July
Aug
Sept
Oct
Nov
Dec
1986-Jan
Feb
Mar
22?
7.73
7.17
7.31
7.36
7.33
7.39
7.47
7.33
7.30
7.29
6.76
8.71%
8.06
7.46
7.57
7.70
7.64
7.71
7.68
7.50
7.53
7.47
6.89
9.14%
8.46
7.80
7.86
8.05
8.07
8.01
7.88
7.67
7.73
8.12
7.37
7.04
7.52
7.37
7.26
7.42
7.39
7.28
7.19
7.24
6.53
8.57
7.61
7.32
7.82
7.69
7.42
7.67
7.63
7.44
7.41
7.36
6.57
8.99
7.98
7.71
8.12
8.03
7.99
7.92
7.85
7.60
7.57
7.43
6.72
8.
7.61
7.03
9.81
9.69
9.28
8.73
8.68
8.34
7.46
End of Bonth
1985-Apr
May
June
July
Aug
Sept
Oct
Nov
Dec
1986-Jan
Feb
Mar
*
Rates are from the Treasury yield curve.
35
MARKET BID YIELDS ON TREASURY SECURITIES, MAR.
31,
1986
36
AVERAGE YIELDS OF LONG-TERM BONDS
Table AY-1.
—
[Source:
Period
Treasury
Hew Aa
20-yr.
bonds 1/
corporate
bonds II
New Aa
municipal
bonds 3/
Average Yields
of
Long-Term Treasury, Corporate, and Municipal Bonds
Office of Government Finance and Market Analysis in the Office of the Secretary]
Treasury
20-yr.
bonds 1/
New Aa
corporate
bonds 2/
New Aa
municipal
bonds 3/
Treasury
New Aa
New Aa
Treasury
20-yr.
bonds 1/
corporate
bonds 2/
municipal
bonds 3/
20-yr.
bonds 1/
MOKTHLY SERIES— AVERAGES OF DAILY OR WEEKLY SERIES
1978
Jan
Feb
Mar
Apr
Nay
June....
7.88%
7.71
7.99
8.36
8.22
8.04
July
Aug
Sept
Oct
Nov
Dec
B.17
8. 50
8.57
8.35
8.28
8.23
Jan
Feb
Mar
Apr
May
June
8.01
8.03
7.97
7.86
8.13
8.03
July....
Aug
Sept
Oct
8.00
Nov
Dec
7.91
7.78
7.70
7.64
7.30
Jan
Feb
Mar
Apr
May
June....
7.48
7.64
7.73
7.67
7.74
7.64
July
Aug
Sept
Oct
Nov
Dec
7.60
7.64
7.57
7.71
7.76
7.87
9.17?
New Aa
corporate
bonds 2/
New Aa
municipal
bonds 3/
37
AVERAGE YIELDS OF LONG-TERM BONDS
lJ®{iDgGD©i
41
INTERNATIONAL FINANCIAL STATISTICS
The tables in this section are designed to provide data
U.S. reserve assets and liabilities and other stati sties
related to the U.S. balance of payments and international
f1 nancia 1 posi tf on
Table IFS-3 shows U.S. Treasury nonmarketable bonds and
notes Issued to official institutions and other residents of
foreign countries.
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.
in
on
Table IFS-4 presents a measure of weighted-average changes
exchange rates between the U.S. dollar and the currencies of
certain other countries.
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 lFS-1.
[In
End of ca endar
year or month
1
-
U.S.
minions
Reserve Assets
of dollarsj
42
INTERNATIONAL FINANCIAL STATISTICS
Table IFS-2.
-
Selected U.S. Liabilities to Foreigners
[In millions of
doHars]
Liabilities to foreign countries
Official
End of
calendar
year or
month
Total
(1)
Institutions
1/
43
INTERNATIONAL FINANCIAL STATISTICS
Table IFS-4.
- Weighted Average
Exchange Rate Changes
of
for the Dollar
[Percent change relative to exchange rates as of end-May 1970]
Trade-weighted average appreciation (+)
depredation (-) of the U.S. dollar 1/ vis-a-vis
or
End of calendar
year or month
Currencies of
OECD countries 2/
Currencies of 46 main
trading countries 3/
-10.9
-10.3
-14.6
-21.5
-18.4
-15.0
-3.4
+9.2
+21.8
+41.9
+35.6
-4.6
-1.0
-1.0
+446.4
+1,853.3
+5.053.9
+46.2
+46.8
+45.9
+40.2
+41.0
+38.1
+36.9
+34.8
+35.6
+34.3
+29.5
+31.0
+25.5
+2,801.1
+3,088.2
+3,640.5
+3,972.6
+4,154.9
+4,348.3
+4,538.2
+4,738.5
+6,053.9
+5,451.1
+5,867.7
+5.870.4
+5,895.3
1975
1976
1977
1978
1979
1980
1981
1982
983
1984
1985
1985-Apr
Nay
June. ..
July...
Aug. . ..
Sept...
Oct
Nov
Dec
1986- Jan....
Feb
Mar. p.
Apr. p.
1/
""
-4.1
+6.6
+21.3
+58.9
141.2
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
for a major share of U.S. foreign trade.
U.S. bilateral trade patterns in
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.
(EQ2)
Afc^/$ is the percent change In the
foreign currency i cost of dollars; and
X^/EX Is U.S. exports to country i, as
proportion of total U.S. exports to
all countries in the set.
a
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;
(EQ3)
Equation one Is used to calculate a trade-weighted average of changes in
the dollar cost of foreign currencies:
(EQl)
M^/EM Is U.S. Imports from country i. as
a proportion of total U.S. imports from
all countries in the set.
=
[(E|„ > ni/m+x)*(-l)]
+ tE, * x/m+x]
m/m+x is U.S. inverts as a proportion
of its total trade with all countries In
the set; and
x/mx
Is U.S. exports as a proportion of
its total trade with all countries in the
set.
E_ Is the weighted average of percentage
changes in the dollar cost of Individual
foreign currencies:
AJ/fc^ is the percent change in the dollar
cost of foreign currency 1; and
E
Where:
E„ . I(M/fc, * Ki/rH)
Where:
Is the weighted average of percentage
changes in the foreign currency cost of
E
dol lars;
Exchange rate data used in constructing the indices reported here differ
somewhat from those used in earlier calculations to more accurately reflect
end-of-period currency values.
I
E, -t(4fc,/J * X,/rX)
Where:
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
~
Kingdom.
3/ The currencies of 46 IMF member countries which account for approximately
90 percent of U.S. total trade.
"
44
CAPITAL MOVEMENTS
IimtODUCTION
Background
Data relating to capital 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 commercial banks, thrift institutions, 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.
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
business
U.S.
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.
general, data are reported opposite the foreign country or geographical area 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.
In
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 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.
Effective as of January 31, 1985, savings
and loan associations and other thrift Institutions began to file the TIC
banking forms.
Previously they had reported on TIC forms for nonbanking
enterprises.
\
Section II 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 collected on a quarterly basis
only.
Also, the distinction 1n 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
collected on a quarterly basis only.
Beginning March 1981, this claims
coverage was extended to certain items In the hands of brokers and dealers In
the United States,
See notes to section I above concerning the reporting of
thrift institutions.
Another Important change In the claims reporting, beginning with new
quarterly data as of June 30, 1978, was the adoption of a broadened concept of
"foreign public borrower," which replaced the previous category of "foreign
official institution" to produce more meaningful information on lending to the
public sector of foreign countries. The term "foreign public borrower" encompasses central governments and departments of central governments of foreign
countries and of their possessions; foreign central
banks, stabilization
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 affiliated agency thereof, created by treaty or convention
between sovereign states.
j
i
!
1
;
I
;
I
I
\
i
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,
i
|
i
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 coi^janles. International
Banking Facilities (IBF's), savings and loan and other thrift institutions,
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, thrift institutions, and some brokers and dealers file monthly
reports 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.
Quarterly reports
are filed with respect to liabilities and claims denominated in foreign
currencies vis- a-v i s foreigners.
Effective January 31, 1984, the specified
exemption level~appllcable to the monthly and quarterly banking reports was
raised from $10 million to $15 million.
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 $500,000 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, thrift Institutions
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 minion, up from $2 million.
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.
Description of Statistics
Section I presents data on liabilities to foreigners reported by banks,
thrift Institutions, brokers, and dealers in the United States.
Beginning
April 1978, the following major changes were made in the reporting coverage:
1/ Copies of
""
the reporting forms and Instructions may be obtained from the
Office of Data Management, Office of the Assistant Secretary for International
Affairs, Department of the Treasury. Washington, D,C. 20220, or from district
Federal Reserve banks.
I
;
j
unaffiliated
Section IV shows the liabilities to,
and claims on,
foreigners by exporters,
importers.
Industrial and cormerclal concerns,
financial Institutions other than banks, thrift institutions, brokers, and
other nonbanking enterprises In the United States.
The data exclude the
Intercompany accounts of nonbanking enterprises in the Uni ted States with
their own branches and subsidiaries abroad or with their foreign parent
companies,
(Such transactions are reported by business enterprises to the
Department of Commerce 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,
financial liabilities and claims of reporting
1978,
enterprises are distinct from their commercial liabilities and claims; and
items are collected on a time remaining to maturity basis instead of the
original maturity basis used previously.
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
They Include transactions executed In
issues, and redemptions of securities.
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.
Also, see notes for section
I
above concerning the reporting of thrift institutions.
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
The gross figures contain some offsetting transactions
original issuer.
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
The princapital movements between the United States and foreign countries.
cipal 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 transConsolidated data on all types of Interactions of the U.S. Government.
national capital transactions are published by the Department of Corrmerce In
Its regular reports on the U.S. balance of payments.
i
|
I
i
CAPITAL
Section
I.
-
Liabilities to Foreigners
Table CM-l-1.
-
45
MOVEMENTS
Reported by Banks
Total Liabilities by
Type
in
the United States
of Holder
[In millions of dollars]
International and
regional 2/
Forei qn countries
Memoranda
liabilities
foreigners
reported by BF' s 4/
Total
Official
institutions
1/
Banks and other foreigners
all
to
I
Payabl
Payable
e
in
End of
calendar year
or month
Total
liabilities
(1)
Payable
in
Total
dollars
(2)
(3)
foreign
currencies 3/
Payable
in
Payable
in
Total
dollars
(51
(6)
(4)
foreign
currencies 3/
(7)
in
Payable
in
Total
dollars
(8)
(9)
1962
1983
1984
1985
311,900
374,826
415,893
449,966
71.647
79,876
86,065
79,862
71,647
79,876
86,065
79,862
235.307
288.940
325.354
364.534
230,487
283,774
316,787
349,242
4.820
5,167
8.567
15.292
4.946
6.010
4.473
S.569
4.922
5.957
4.454
5.566
1985-Mar. r...
Apr
r .
May r. .
June r .
July r .
421,230
418,742
419.379
422,937
427,327
430,313
433,659
430,441
434,242
449,966
446,131
451,717
455,371
77,749
77,749
80,012
79,859
81,546
82,795
84.261
82,382
81,412
83,608
79,862
81,527
80.746
81.419
337,388
332.377
332.639
335.518
339,484
338.671
343.625
342.079
342.646
364.634
357.114
360.971
368,721
329,419
324,407
324,669
325,309
329,275
328,461
330,909
329,363
329,930
349,242
341,822
345,679
353,429
7.970
7,970
7.970
10,210
10,210
10,210
12,716
12.716
12.716
15,292
15,292
15,292
15.292
6.092
6.353
6.881
5.873
5.048
7.382
7.651
6,950
7,988
5,569
7,490
10.000
5.231
6.070
6.331
6.859
5.844
5.019
7.353
7.467
6,766
7,803
5,566
7.487
9,997
5,228
.
.
.
.
.
Aug
r ,
Sept. r
Oct. r...
Nov. r. .
Dec
.
,
.
1986-Jan
Feb.
Mar.
p.
p.
.
.
10,012
79,859
81.546
82,795
84,261
82,382
81,412
83,608
79,862
81,527
80,746
81,419
1/ Includes Bank for International Settlements.
7/ Principally the International Bank for Reconstruction and
Development and the Inter-American Development Bank.
3/ Data as of preceding quarter for non-quarter-end months.
T/ Establishment of International Banking Facilities (IBF's)
permitted beginning December 1981.
Payable
in
foreign
currencies 3/
(10)
24
63
20
3
22
22
28
28
28
184
184
184
3
3
3
3
Payable
in
foreign
curren-
dollars
cies 3/
(11)
(12)
122,465
154,283
170,097
181.280
2,717
2.365
3.352
7.137
179.078
171.618
173.722
170,932
174.104
176.229
171.927
172.235
170.550
181,280
176,804
179.920
181.948
3,539
3.539
3,539
4,360
4.360
4.360
5,837
5,837
5.837
7.137
7.137
7.137
7.137
Note. --Total liabilities include liabilities previously classified as either "short term" or "long term" on the Treasury reports
filed by banks.
The maturity distinction was discontinued with
new reports filed as of Apr. 30, 1978. and historical series adjusted accordingly.
See introductory text to Capital Movements
tables for discussion of changes in reporting.
46
CAPITAL
Table
CM-l-2. -
MOVEMENTS
Total Liabilities by Type, Payable
Part A
—
Foreign Countries
[In millions of dollars]
in
Dollars
47
CAPITAL MOVEMENTS
Table
CM-l-3. -
Total Liabilities by Country
[PosHlon at end of period
In millions of dollars]
Calendar year
Feb.
Europe:
Austria
590
Belglum-Luxenbourg
Bulgaria
Czechoslovakia
Denmark
Finland
France
German Democratic Republic
Germany
Greece
Hungary
Italy
Netherlands
Norway
Poland
Portugal
Romania
Spal
n
Sweden
Switzerland
Turkey
United Kingdom
U.S.S.R
Yugoslavia
Other Europe
Total Europe
Canada
Latin America and Caribbean:
Argentina
8a ha mas
Bermuda
Brazi
British West Indies
Chile
Colombia
Cuba
Ecuador
Guatemala
Jamaica
Mexico
Netherlands Antilles
Panama
Peru
Trinidad and Tobago
Uruguay
Venezuela
Other Latin America
and Caribbean
1
Total Latin America
and Caribbean
,
,
,
,
,
,
,
,
Asia:
China:
Mainland
Taiwan
Hong Kong
India
Indonesia
Israel
Japan
Korea
,
,
,
,
Lebanon
Malaysia
Pakistan
Philippines
Singapore
Syria
Thailand
01 -exporting countries 1/.
Other Asia
.T..
,
,
,
Total Asia
Africa:
Egypt
Ghana
Liberia
Morocco
South Africa
Zaire
,
Oil-exporting countries 2/.
Other Africa
T.
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 1 nternatlonal
and regional
Grand total
p
48
CAPITAL
Table
CM-l-4. -
MOVEMENTS
Total Liabilities by Type and Country, as of Mar. 31, 1986, Preliminary
[Position In mllHons of dollars]
Toul liabilities
llablHties payable
In dollars
Liabilities to
other foreigners
To foreign official
'
Total
Institutions and
unaffiliated foreign banfcs
Totals
Payable
Payable
In
Banks'
Custody
foreign own 11a- llabllDeposits
ShortOther
currer- bllltles Itles
term U.S. llabllcles _!/
Demand Tline ^/ Treasury Itles
In
dollars
~
(1)
.
5.422
Liabilities to
(21
5.360
(31
(4)
(5)
(6)
(7)
banks'
own
<9)
randui
Deposits
foreign
offices
Demand
ShortOther
term U.S. llabllTime II Treasury Itles
obllgatlons
(10)
(11)
(12)
obllgatlons
(8)
Hemo-
all
"
(13)
(14)
Negotlable
CD's
held
for all
foreigners
{151
49
CAPITAL MOVEMENTS
Section
II.
-
Claims on Foreigners Reported by Banks
Table
CM-ll-1. -
in
the United States
Total Claims by Type
[Position at end of period 1n millions of dollars]
Calendar
year
1983
1984
June
Sept.
I
Dec.
r
Mar.
r
June
r
Sept.
Type of claim
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 IBF'sJ_/
Payable in dollars
Payable in foreign currencies
434,505
456,207
438,390
445,631
445,705
442,255
426,215
446,419
428,830
433,078
432,647
427,832
391,312
57,569
409,275
60,477
394,294
60,615
400,162
62,237
399,001
61,924
397,299
61,286
47,126
76,711
146,393
63.514
49,706
80,413
158,760
59,920
47,557
74,991
152,001
59.130
49,226
75,706
156,216
56,777
51,519
72,721
157,718
55,119
49,424
70,051
162,879
53.658
34,903
2,969
37,144
3,456
34,537
4.575
32,916
3,380
33,646
3,806
30,534
2,870
26,064
5.870
26,324
7.362
23,907
6.055
23,805
5.732
24,641
5,198
22.164
5,499
8.290
7.231
9.788
9.561
9.560
9.279
12.553
11.984
13.058
12.618
14.422
14.179
1.059
227
281
569
440
243
172.298
168.393
3,906
189.209
184.657
4,552
184.995
180.706
4,288
187.629
182.678
4,951
195.062
189.441
5,611
191.231
185.897
5,334
37.715
42.911
38.905
37.103
35.580
31.751
:
Customer liability on acceptances
Claims with remaining
maturity of 1 year or less:
On foreign public borrowers
On all other unaffiliated
foreigners
Claims with remaining
maturity of more than 1 year:
On foreign public borrowers
On all other unaffiliated
foreigners
U
24.039
22.261
21.219
23.912
23.688
23.764
152.120
151.544
141.808
144,687
143,316
135,619
32,521
37,576
38.702
38.695
38.187
37.554
35,036
38,856
39.066
37.399
36.188
35.549
Establishment of International Banking Facilities (IBF's)
beginning December 1981.
permitted
439
r
50
CAPITAL
Table CM-ll-2.
-
MOVEMENTS
Total Claims by Country
[Position at end of period <n minions of dollars]
Calendar
year
1983
Europe:
Austrl
448
a
Selglum-Luxembourg
Bulgaria
Czechoslovakia
Denmark
Finland
France
German Democratic Republic
Germany
Greece
Hungary
1984
June
6,874
623
7,331
590
6,825
465
5,324
34
80
27
78
19
80
1.365
1,291
10.163
1,322
1,272
11,100
156
241
1,775
380
1,130
1,789
1,083
1,029
9,364
2,281
834
247
1,476
1,241
1,009
10,806
216
1,596
1,139
899
8,373
1,878
760
207
1,393
23
56
778
527
926
994
10,838
237
1,8'69
869
895
9,734
1,965
832
Italy
Netherlands
Norway
Poland
Portugal
Romania
9,858
1,614
106
104
76
Spal
3,823
3,683
2,130
69,481
4.073
3.755
2,534
1.216
78,153
277
1,799
520
223
1,894
648
3.661
3.282
2,034
1,172
75,678
249
1,965
744
196
1,249
48
3,164
2,733
2,441
1,175
77,475
198
1,905
651
120.010
132,698
125,891
126,114
11.981
61,075
576
25,191
37,502
6,150
3,805
11,332
61,810
11,297
57,160
517
26.569
37,907
7,023
3.523
11,225
59.531
632
26,745
39,595
7,011
3.583
725
n
Sweden
Switzerland
Turkey
United Kingdom
U.S.S.R
Yugoslavl a
Other Europe
Total
846
Europe
Canada
5,720
808
6.118
41
40
16
27
788
1,148
11,777
257
649
996
11.525
239
2.090
1.035
796
8.384
1.999
961
529
2,078
887
865
9,482
1,961
763
183
1.202
51
3,271
2.810
2.200
1,309
80.214
244
1,809
703
130,331
185
1.166
44
2.956
2.592
2.421
1,315
77.801
346
1.974
844
840
6,983
19
29
921
1,141
12,758
229
1,882
1,042
765
8,120
1,659
964
178
1,199
68
2.593
2,838
3,442
1,351
81.067
239
1.918
772
133.018
127,2
24,257
22,765
21,966
11,354
59,339
468
26,624
38,283
6,946
3,395
11,566
60,852
580
27,076
38,480
6,778
3,290
11,609
55,281
567
25,962
37,644
6.298
3,279
Latin America and Caribbean:
Argentina
Bahamas
Bermuda
Brazil
British Uest Indies
Chile
Colombia
Cuba
Ecuador
Guatemala
Jamal ca
Mexico
Netherlands Antilles
Panama
Peru
Trinidad and Tobago
Uruguay
Venezuela
Other Latin America
and Caribbean
572
26,725
40,159
6.591
3,650
2
22
2
4
2
2
2
2,377
2,437
2.419
2,469
2,529
2,566
2,471
160
236
150
343
137
242
174
268
168
251
160
242
182
243
35,198
1.270
7,962
2,575
293
35,722
1,579
8,202
2,509
36,121
1,543
7.711
2,425
35,186
1,612
7,786
2,411
33,920
1,355
7,102
2,370
32,691
1,394
6,935
2,310
32,199
1,272
7,214
2,090
219
1.104
11.225
241
200
973
11,513
248
951
211
997
1,033
11,127
1,025
11,165
1,001
11,107
11,525
245
Total Latin America
and Caribbean
Asia:
China:
Mai nland
Taiwan
Hong Kong
India
Indonesia
Israel
Oapan
Korea
Lebanon
Halaysl a
Paki Stan
Phi 11 pplnes
Singapore
Syria
Thailand
Oil-exporting countries 1/
Other Asia
Total Asia
Africa:
Egypt
Ghana
Liberia
Morocco
South Africa
Zaire
01 l-export1ng countries
Other Africa
317
586
2,160
8,590
1,943
8,929
365
390
846
1,916
32.247
10,271
1.010
2,026
32,153
10,111
62
51
888
199
2,140
854
309
4,210
47
1,266
5,449
1,147
5,617
362
466
71,424
771
12
736
466
2,816
69
_^/
1,340
1,110
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
2,536
4,719
33
233
40
11
1
1
11 .156
51
CAPITAL MOVEMENTS
-
Table CM-ll-3.
by
Total Claims on Foreigners by Type and Country Reported
Banks
in
the United States, as of Dec. 31, 1985
[Position at end of period In mtlHons of dollars]
52
CAPITAL MOVEMENTS
Section
III.
-
Supplementary
Table
Liabilities
CM — III— 1.
—
and Claims Data Reported by Banks
Dollar Claims
in
the United States
on Nonbank Foreigners
[Position at end of period in millions of dollars]
Dollar claims of U.S. offices
claims of
1 ar
U.S. -based banks'
Dol
End of calendar
year or month
Total dollar
claims on nonbank foreigners
(1)
1981
1982
1983
1984
1985
r
19e5-Feb.
r
Har. r
Apr. r
May r
June r
July r
Aug. r
Sept.r
Oct
Nov
Dec
1986-Jan
Feb.
1/
2/
p
U.S. -based
U.S. agencies
and branches of
banks
foreign banks
(2)
(3)
U
major foreign
branches 2_/
(4)
165,730
186,923
199,950
190,928
175,926
43.656
64,543
76,113
75,952
67,645
36.645
42,493
44,970
43,062
42,784
85.429
79,887
78,867
72,914
65,497
188,141
187,830
187,460
186,220
186,485
184,732
182,837
181,659
178,516
177,639
175,926
174,716
173.708
73,950
73.768
74,097
71,804
71,547
71,628
71,244
69,697
68,930
68,059
67,645
68,493
66,609
43,180
43,276
42,620
43,153
43.397
43,086
42,983
43,348
42,497
42,516
42,784
41,933
43,493
71,011
70,786
70,743
71,263
71,541
70,018
68,610
68,614
67,089
67,064
65,497
64,290
63,606
Beginning December 1981, includes International Banking Facilities (IBF's)
established by foreign-based banks.
Federal Reserve Board data.
53
CAPITAL MOVEMENTS
Table CM-lll-2.
In
-
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
liabilities
Total
Calendar year
1982
Other Europe;
Cyprus
Iceland
Ireland
Monaco
Other Latin America and Caribbean:
Barbados
Belize
Bolivia
Costa Rica
Dominican Republic
El Salvador
French West Indies and
French Guiana
Guyana
Haiti
Honduras
Nicaragua
Paraguay
Suri name
36
51
137
137
1983
De c,
67
38
48
20
64
17
59
74
244
29
136
118
150
119
35
18
43
15
17
35
17
200
233
544
302
270
354
531
431
308
427
643
513
398
571
760
628
20
14
101
112
306
27
161
408
146
268
52
174
497
132
434
49
87
293
135
108
36
19
119
357
183
305
31
62
21
1982
p
103
34
own claims
banks'
Calendar year
23
168
1983
Dec.
4
17
68
284
131
268
94
451
1
16
10
p
20
74
437
n.a.
50
23
28
436
684
726
627
1
3
1
1
I
203
324
545
211
345
605
244
440
525
126
208
458
582
125
167
488
35
32
182
490
110
489
17
47
3
16
15
497
124
10
17
IS
4
18
8
10
16
137
159
140
136
139
187
10
18
147
9
9
120
208
61
5
5
15
n.a .
23
159
115
174
n.a.
85
72
1
1
1
54
52
41
1
*
76
n.a.
89
1
175
99
183
Other Asia:
Afghanistan
Bangladesh
Brunei
Burma
Jordan
Kampuchea (formerly Cambodia).,.
Macao
Nepal
Sri Lanka
Vietnam
Yemen (Aden)
Yemen (Sana)
Other Africa:
Angola
Burundi
Cameroon
Ethiopia, including Eritrea
Guinea
Ivory Coast
Kenya
49
53
61
66
47
84
98
n.a
6
8
41
74
161
29
82
157
18
101
54
6
6
6
6
5
1
10
31
41
89
6
13
24
17
30
199
2
8
17
71
137
129
139
113
44
127
17
30
72
42
28
50
136
163
18
76
10
e
19
16
14
10
11
11
8
14
11
18
21
28
27
14
14
33
12
55
38
27
16
10
50
20
5
30
104
7
14
7
13
21
32
SO
147
11
12
7
9
13
23
84
10
25
9
8
19
23
14
13
9
8
2
n.a.
83
4
Mauri tania
Mauri tius
15
Mozambique
31
Niger
Rwanda
Sudan
Tanzania
Tunisia
Uganda
Zambia
51
25
40
24
27
48
13
92
12
6
7
141
74
15
7
10
25
7
6
2
1
9
13
53
18
31
17
.
34
Madagascar
other:
New Hebrides
New Zealand
Papua New Guinea
U.S. Trust Territory of
the Pacific Islands
77
74
10
16
8
4
80
6
6
6
49
38
41
68
43
37
33
69
45
22
58
48
n.a.
49
43
1
3
110
118
2
126
2
7
166
n.a.
37
*
n.a
n.a
.
52
119
119
51
63
80
10
170
65
54
75
14
*
14
2
43
1
2
*
8
17
72
141
163
84
184
81
13
3
1
1
3
9
23
49
27
70
13
25
39
1
63
26
25
105
165
72
3
4
2
23
37
65
2S
33
1
*
*
39
30
12
19
7
3
16
62
16
72
203
195
10
124
9
70
All
*
Less than $500,000.
11
23
225
13
9
S
10
40
9
348
n.a.
126
33
293
53
402
513
103
101
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,
876
64
54
CAPITAL
Section
IV.
-
Liabilities to,
MOVEMENTS
and Claims on, Foreigners Reported by Nonbanking Business Enterprises
Table
CM— IV-1. -
Total Liabilities and Claims by
in
the United States
Type
[Pos'ttion at end of period In (0111 ions of dollars]
Calendar year
1984
1965
Sept.
Type of liability or claim
Total
liabilities
Payable in dollars
Financial
Commerci a 1
Trade payables
Advance receipts and other.
Payable in foreign currencies..
Financial
Commercial
Trade payables
Advance receipts and other.
:
Total claims
Payable in dollars
Fi nanci a 1
Deposits
Other
Commercial
Trade receivables
Advance payments and other.
:
Payable In foreign currencies..
FI nancial
Deposits
Other
Commerci al
Trade receivables
Advance payments and other.
:
:
28,618
Dec.
p
55
CAPITAL MOVEMENTS
Table
CM-IV-2. -
Total Liabilities by Country
[Position at end of period 1n millions of dollars]
1984
Calendar year
Europe;
Austria
669
Belgium-Luxembourg
Bui garl
1
a
Czechoslovakia
Denmark
Finland
France
German Democratic Republic
Germany
Greece
Hungary
Italy
Netherlands
Norway
Poland
Portugal
Romania
56
391
40
542
81
26
45
557
364
519
336
404
423
1
1
1
1
1
1
39
25
27
21
241
236
1.309
27
2
2
2
I
1
1
2
34
27
31
33
20
11
20
78
53
317
909
1.2B2
1,362
1.260
1,433
342
1.297
298
1,291
1.280
1
3
3
4
2
18
1,026
70
1
5
1.261
1.036
935
929
1,110
1.096
905
1.095
41
10
37
23
22
34
56
9
1
4
1
25
11
409
900
439
966
483
1,058
512
.487
889
835
413
688
29
73
114
162
162
436
891
156
52
10
374
3
S
2
2
2
1
94
52
135
73
16
79
137
80
4
2
2
3
2
58
727
ISO
119
881
1,056
7
97
114
126
919
13
95
1,159
109
113
130
774
25
25
4,798
55
52
23
52
250
179
11
9
352
1,108
234
1.010
246
137
2
3
1
Sweden
Switzerland
Turkey
United Kingdom
U.S.S.R
Yugoslavia
Other Europe
5
5
15
13
111
116
124
826
24
5.132
4,445
4,128
3,571
4,392
3,791
3,565
4,175
13
12
3
3
1
1
3
4
107
25
23
29
14
21
27
22
24
21
49
16
51
18
84
30
92
30
97
Total Europe
10.863
10.595
10,333
.987
10.730
9.657
9,418
10.431
11,157
Spal
n
214
118
1.139
853
Latin America and Caribbean:
Argentina
Bahamas
Bermuda
Brazil
British West Indies
Chile
Colombia
Cuba
Ecuador
Guatemala
Jamal ca
Mexico
Netherlands Antilles
Panama
Peru
Trinidad and Tobago
Uruguay
Venezuela
Other Latin America
and Caribbean
125
1,281
76
1,046
2,136
1,542
1.735
57
33
166
18
81
11
18
10
77
125
Less than $500,000.
14
3
5
4
2
3
524
113
69
443
446
129
45
115
49
22
19
18
9
12
10
11
314
216
7
*£^
953
136
114
680
143
61
5
7
17
12
55
10
10
756
556
773
374
4,321
4.069
40
185
150
26
137
167
164
117
159
166
53
165
160
1.941
227
2
3
4
37
29
61
66
136
139
12
58
64
10
53
1
\_l
_
_
145
37
13
6
6
396
4
6
312
131
159
32
191
274
163
176
32
211
232
337
159
91
32
154
240
339
152
199
43
148
242
232
140
163
2.238
2.465
2.273
2.197
2,666
2,947
356
499
528
576
667
631
6
4
4
1
1
1
14
10
53
55
50
36
48
50
44
40
42
16
13
14
11
10
14
22
244
302
356
353
264
220
164
2
4
2
2
2
2
2
44
2,191
40
2,911
46
37
38
76
54
42
7,083
5,672
4.348
2,527
2.910
2.543
91
86
33
29
10.964
10
35
96
_
1.686
106
203
8.136
4
_
_
24
221
139
6.957
41
60
_2^/
22
216
185
50
131
198
49
102
106
107
103
7,063
7.276
6.614
7.081
7,611
121
58
17
1
2
1
1
3
2
1
34
21
14
2
2
2
2
3
201
245
147
162
176
202
192
141
7
1
1
265
235
236
46
59
IS
4
7
9
516
345
277
234
294
89
55
48
121
216
99
260
299
475
663
606
464
63
34
37
65
77
100
461
90
439
102
373
395
422
443
45
37
24
18
683
.. ._
25.824
._
229
208
347
94
I
_
25.346
Grand total
*
13
798
127
92
International and regional:
International
European regional
Latin American regional...
Asian regional
African regional
Middle Eastern regional. .._
Total International
and regional
36
26
4
400
16
36
25
28
557
206
158
50
121
52
23
29
1,656
*
10
36
15
61
67
72
443
274
1
foreign countries.
117
3
93
32
Africa:
Egypt
Ghana
Liberia
Morocco
South Africa
Zaire
Total
1,131
46
Phil Ippi nes
Total other countries.
72
1.147
109
143
1.248
3
267
126
1.445
199
Other countries:
Australia
All other
72
1,120
67
24
22
26
286
Total Africa
58
137
130
30
23
1*39
Lebanon
Malaysia
Pakistan
Oil-exporting countries
Other Africa
67
1.352
127
159
22
19
307
42
Asia:
China:
Hal nland
Taiwan
Hong Kong
India
Indonesia
Israel
Japan
Korea
Total Asia
87
1.933
46
54
Total Latin America
and Caribbean
Singapore
Syria
Thailand
01 -exporti ng countries
Other Asia
64
753
80
30
39
74
89
1,243
1.4B7
2.208
91
920
131
86
1,059
43
96
97 3
76
135
115
2,344
1,860
Canada
136
~1/
2/
29.357
26.243
24,591
27.018
25,184
Includes Bahrain. Iran. Iraq. Kuwait. Oman. Oatar.
and the United Arab Emirates (Trucial States).
Includes Algeria. Gabon. Libya, and Nigeria.
Saudi
Arabia,
56
CAPITAL MOVEMENTS
Table
CM-IV-3. -
Total Liabilities by
Type and Country, as of Dec. 31, 1985, Preliminary
[Posttion at end of period In mtlHons of dolUrs]
Financial
HabtUties
Total
Commercial
liabilities
l1«51Htles
Country
Total
(2)
Europe:
Austria
Belgium-Luxembourg
Bulgaria
Czechoslovakia
Denmark
Finland
France
German Democratic Republic.
Germany
Greece
Hungary
5
325
62
*
21
2
21
1
1
236
S9
857
89
768
89
147
453
1.026
419
223
196
607
70
3
3
28
745
125
23
5
722
125
22
16
18
234
9
109
2
2
58
136
115
58
36
11
11
1.056
676
223
S
453
100
104
379
319
976
31
25
25
4
4
30
97
30
97
11.157
,
72
55
55
1,131
1,120
1,103
81
87
4
4
29
29
1.858
1,814
1,720
10
77
•
1
1 I
1
1
8
4
3
446
2
15
lis
49
12
10
2
IS
88
2
I
11
216
50
Total Latin America and Caribbean
3.038
Asia:
China:
Mainland
Taiwan
Hong Kong
India
Indonesia
Israel
Japan
Korea
Lebanon
Malaysia
Pakistan
Philippines
Singapore
Syria
Thailand
Other Asia
232
140
163
SO
11
131
198
1
1
1,148
468
468
468
53
S3
82
58
2,947
631
11
1
1
Total Asia
Africa:
Esypt
Ghana
Liberia
Morocco
South Africa
Zaire
Other Africa
14
22
184
2
40
3,015
7.811
2
3
141
1
296
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
International and regional
Grand total
1
42
.,.
324
364
2
2
4.798
Latin America and Caribbean:
Argentina
Bahamas
Bermuda
Brazil
British West Indies
Chile
Colombia
Cuba
Ecuador
Guatemala
Jamaica
Hexico
Netherlands An title
Panama
Peru
Trinidad and Tobago
'Uruguay
Venezuela
Other Latin America and Caribbean.
Total
67
9
1.108
,
(5)
SB
1,309
Total Europe
Total
(41
391
352
Canada
(3)
2
•
Italy
Netherlands
Norway
Poland
Portugal
Romania
Spain
Sweden
Swi tzerland
Turkey
United Kingdom
U.S.S.R
Yugoslavia
Other Europe
Payable
In dollars
Payable
In foreign
currencies
443
18
1
17
94
57
CAPITAL MOVEMENTS
Table
CM-IV-4. -
Total Claims by Country
[Position at end of period In minions of dollars]
58
CAPITAL
Table CM-IV-5.
-
Total Claims by
MOVEMENTS
Type and Country, as
of Dec. 31,
1985
[Position at end of period In millions of dollars]
rinancia] claims
Country
Total
claims
Europe:
Austria
Total
f nanclal
claims
Denominated
In dollars
Denominated
In foreign
currencies
Commercial
claims
SS
55
Belgium-Luxembourg
Bulgaria
Czechoslovakia
Denmark
Finland
France
German Democratic Republic...
Germany
Greece
Hungary
18S
17S
Italy
472
346
150
5
9
7
30
611
11
184
11
178
223
58
136
57
87
35
61
22
60
40
13
4
47
19
426
S
569
110
,
6
1
6
Netherlands
Norway
Poland
Portugal
Romania
Spal
4
4
56
6
40
1
5
5
10
4
160
73
284
39
898
162
90
358
n
39
6,390
44
105
29
3
17
74
*
5,492
30
2
17
*
69
5
5.318
*
173
30
13
Total Europe
Canada
Latin America and Caribbean:
Argentina
Bahamas
Bermuda
Brazil
British West Indies
Chile
Colombia
Cuba
Ecuador
Guatemala
Jamaica
Hex 1 CO
Netherlands Antilles
Panama
Peru
Trinidad and Tobago
Uruguay
Venezuela
Other Latin America and Caribbean.^
Total Latin America and Caribbean
81
14
14
2,6S1
.638
2.576
99
6
284
4,446
78
54
119
1
69
42
98
690
29
243
38
27
.440
11
9
*
2
U
7
24
14
32
24
14
32
180
179
20
20
61
6
3
Total Asia
61
6
3
6
204
277
29
59
9.457
Africa:
Egypt
Ghana
Liberia
Morocco
South Africa
Zaire
Other Africa
180
179
3
2
211
60
116
25
22
221
1,491
178
1
1
14
13
48
726
International and regional.
2
43
3.678
3
12
97
17
3
*
277
61
foreign countries
Grand total
16
2
Total other countries
Total
101
283
125
Other countries:
Australia
All other
Total
16
101
47S
S3
26
53
Total Africa
International and regional:
International
European regional
Latin American regional
Asian regional
African regional
Middle Eastern regional
3
9
_
62
4.435
Asia:
China:
Mainland
Taiwan
Hong Kong
India
Indonesia
Israel
Japan
Korea
Lebanon
Malaysia
Pakistan
Philippines
Singapore
Syria
Thailand
Other Asia
437
284
110
10
4
Sweden
Swi tzerland
Turkey
United Kingdom
U.S.S.B
Yugoslavia
Other Europe
346
52
3
33
17
45
19
5
59
CAPITAL
Section
V.
-
Transactions
Table
in
Long-Term Securities by Foreigners Reported by Banks and Brokers
CM-V-1. —
CIn millions of dolTars;
MOVEMENTS
Foreign Purchases and Sales of Long-Term Domestic
negative figures Indicate net sales by foreigners or
a
net outflow of capital
Marketable Treasury bonds and notes
U.S. Gov't corporations
and federally sponsored
Net foreign purchases
agencies
in
the United States
Securities by Type
from the United States]
Corporate and other securities
Bonds
Stocks
1/
Foreign countries
InternaOther
tional
instiforand retutlons eigners glonal
OffiCal endar
year
or month
cial
Total
(1)
17.319
5.427
21,499
29.786
198e-Jan-Marp 8,500
1982
1983
1984r
1985r
1985-Mar.r..
(2)
14,550
779
507
8,427
1,425
(31
3,869
4,117
15.989
20.875
3,871
{41
-1,100
Gross
foreign Gross
purforeign
chases
sales
(5)
95,993
129,681
5.003 236.338
483 497,183
3,204 263,212
531
(6)
78,675
124,254
214,838
467,398
254.712
Net
foreign
purchases
(7)
-358
-15
1,175
4,356
1.419
Gross
foreign Gross
purforeign
chases
sales
U)
10,114
14,046
16,844
24,960
6.139
(9)
10,472
14,062
15,669
20.604
4.720
Net
Net
Gross
foreign foreign Gross
foreign
foreign purpurpurchases
chases
sales
chases
Gross
foreign Gross
purforeign
chases
sales
(10)
(11)
(12)
(13)
(14)
(15)
1,809
918
11,921
39,752
11.390
11,525
9,953
22,452
62,216
21.772
9,716
9,035
10,531
22,464
10.382
3,901
5,410
-2,980
4,968
6,361
41.881
69,770
59,834
81,819
32,816
37.981
64,360
62,814
76,851
26,455
60
CAPITAL MOVEMENTS
Table
[In
BiOHons
CM-V-3. -
Net Foreign Transactions
Long-Term Domestic Securities by Type and Country
in
negative figures Indicate net sales by foreigners or
of dollars;
Marketable Treasury
bonds and notes
U.S. Gov t corporations
and Federal agency bonds
a
net outflow vf capital
from the United States]
'
Corporate bonds
Corporate stocks
1985
Country
CalendarOct.
year
1985r
Europe:
Austria
Belgium- Luxembourg
Bulgaria
27
19
-5
476
Czechoslovakia
Denmark
Finland
France
German Democratic Republic
Germany
Greece
Hungary
Italy
251
1
-242
1.917
9
53
Netherlands
Norway
Poland
Portugal
Romania
Spain
Sweden
Switzerland
Turkey
United Kingdom
269
1,373
1
-67
976
760
*
-2.166
U.S.S.ft
-3
323
Yugoslavia
Other Europe
Total Europe
3,918
-190
Canada
America and Caribbean:
Argentina
Bahanas
Bermuda
Brazil
British Hest Indies
Chile
Colombia
Cuba
Ecuador
Guatemala
Jamaica
Mexico
Netherlands Antilles
Panama
Peru
Trinidad and Tobago
Uruguay
Venezuela
Other Latin America
•
and Caribbean
Loti
n
Total Latin America
and Caribbean
87
470
633
25
280
174
33
4
4
132
1,731
326
9
15
36
238
116
4,312
Asia:
China:
Mainland
274
Taiwan
Hong Kong
India
Indonesia
Israel
Japan
Korea
Lebanon
Malaysia
Pakistan
Philippines
Singapore
Syria
Thailand
Oil-exporting countries
Other Asia
92
1.267
55
*
13
18,659
227
-43
1
2
6
1,609
*
1/
Africa:
Esypt
Ghana
Liberia
Morocco
South Africa
Zaire
Oil-exporting countries
Other Africa
-40
-1.576
94.
Total Asia
20.839
-1
*
106
*
-1
_2^/
7
T«tal Africa
Other countries:
Australia
All ether
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
-394
16
859
^
483
^
Grand total
Jan.
CalendarOct.
through through year
Dec.
Har.p
1985r
29.786
Jan.
CalendarOct.
through through year
Har.p
1985r
Dec.
Jan.
CalendarOct.
through through year
Har.p
Dec.
1985r
Jan.
through through
Dec.
Har.p
61
CAPITALMOVEMENTS
CM-V-4. -
Table
Foreign Purchases and Sales of Long-Term Securities,
by Type and Country, During First Quarter 1986, Preliminary
mnMons
[In
Domes
Irtg
TotalBank
bonds
chases notes
pur-
eral ly
sponsored
Domestic securl ties
Corporate
S
Marketable
Bonds
Treas- of U.S.
ury i
Gov't
Federal corp.
Financ- and fed1ng
erally
Foreign
other
securl ties
.
agencies Bonds Stocks
12)
(1)
Europe
Austria
Belgium-Luxembourg
Bulgaria
Czechoslovakia
Denmark
Finland
France
i
Gross sales by foreigners
secur j tJes
t1 c
Marketable
Bonds
Treas- of U.S.
ury t
Gov't
Federal corp.
Financ- and fed-
Country
of dollars]
foreigrers
Gross purchases by
(3)
(4)
Bonds Stocks
{61
(51
Bank
Total bonds
sales notes
(6)
(7)
S
Corporate
other
Foreign
securities
i
sponsored
agencies Bonds Stocks
(10)
(9)
(11)
(12)
Bonds Stocks
(13)
(14)
:
,____
365
266
2.614
791
-
-
1,515
1,342
4,576
1,273
1.179
2.303
71
14
•
-
-
Germany
Greece
Hungary
9,785
5.389
122
65
Italy
259
3.791
1,463
29
2
1,994
1.288
•
•
16
4
-
GermanDemocratlcRepubHc
Netherlands
Norway
Poland
Portugal
Romania
Spain
Sweden
Switzerland
Turkey
United Kingdom
U.S.S.R
Yugoslavia
Other Europe
Total
-
Canada
'
9
77
34
2
69
136
707
1,787
97
1.312
1.094
5.148
1.153
995
2.653
2
51
63
13
31
19
12
57
41
6
307
247
1,096
606
506
-
-
•
-
-
-
•
1,654
629
682
8.920
4,476
102
1.218
1,057
1,259
807
50
2
119
62
-
1
55
•
38
74
15
1
842
553
112
60
27
111
251
940
58
60
761
-
*
40
1,191
-
4
4
9
1
1
.-*..
..-_.
>_
88
927
41
56
319
1
44
169
115
58S
6
15
71
6 3
20
3.082
1.912
-
*
11
•
•
2
8
49
13
55
2,168
10
1.717
4 7
46
29
6 5
3
•
•
•
2
•
•
516
520
23
57
25
70
5,318
36
20
32
396
-
-
'
88.050 52.929
1.161
5,182
-
-
•_
_.
498
5.524
6
26
32
1,708
5.512
1,285
466
317
10
-
-
1
1
8
•
2
95.725
55,731
1.656
13,147
8.566 13.403
3.224
•
-
-
-
•_
*
1.630
1.298
139,773
76,561
17.480
10,049
-
*
•
-
5
171
150
-
2,029 16.786 19.132 17.880
144
386
3.804
2,143
5
•
•
•
*
S
1.278
1.111
5
5.385 127,557 74,B22
1,561
-
954
143
304
72
22
30
668
780
10.786
28
1
._•_•
._.»_
48
531
17
60
50
9
3
1
1,060
1.920
13.579
*
Europe
209
956
7
122
5
.._._
332
3.752
1
194
18.426
-
9,879
49
29
104
4.106
568
1
1
6.296 18.898
-
•
*
-
15
138
4
-
7.409 14,362 23.461
732
24
3,665
2.636
24
360
3.584
•
4_
5,941
1.490
Latin America and Caribbean:
Argentina
Bahamas
Bermuda
Brazil
British West Indies
Chile
Colombia
Cuba
Ecuador
Guatemala
Jamaica
Mexico
Netherlands Antilles
Panama
88
13
3
7
46
19
*
36
13
2.359
3,986
1.456
1.808
14
617
1,091
158
658
112
2.010
3.423
1,084
1.500
•
25
8
7
93
291
43
48
21
26
355
124
22
__...
1154«
-17**
.•i_.
1.878
8
2
11
•
11
8
*
56
45
1.436
43
1
10
10
24
118
85
22
1.712
100
1,155
70
68
39
-
-
13
3
9
Peru
Trinidad and Tobago
Uruguay
Venezuela
Other La t1 n Amer ca
and Caribbean
Total Latin America
and Caribbean
1
1
14
6
__
63
8*
i-
1
•
301
77
15
2,102
1.113
318
576
57
133
78
1.244
324
28
28 3
109
118
165
1.4 20
17
10
805
31
16
17
15
5
3
5
1
*
-
•
1
-
-
49
406
7
*
8
8
•
316
9
15
26
58
5
US
1^
Ij
12
57
12.560
5.914
126
804
3,968
6
5
39
-•79*
_____
••32*
•17»»
_•!__
*
2
14
7
*
4
106
271
637
1,087
155
480
24
77
5
*
43
311
73
9
1
11
1
*
4
4
9
3
2
8
2
26
85
6
5
7
118
2
54
1.068
278
33
56
79
28
4
*
•
.
14
-
32
114
387
22
5
.
15
•
•
•
9
-
3
2
40
365
306
1
13
1
81
8
1.435
293
10.414
4.996
8
•
5
20
47
4
2
1
7
54
10
40
644
3,644
863
1
1_
227
Asia;
China:
Mainland
490
Taiwan
Hong Kong
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
2
15
12
17
11
*
*
527
165
337
129
2
8
12
20
13
74
251
736
1.686
183
5.163
2.905
35
124
695
8
6
-
*
1
1
-
1
2
•
*
1
3
•
3
6
•
20
3
117
3
331
66
176
-
217
10
34
12
75
-
36
•
*
9
50
396
78.3 24
531
73
307
•
6
36
111
3
62.533
1.5 90
2.716
1,875
7.893
958
829
1,527
6,165
2,614
515
-
6
1
6
-
-
*
2
9
'
16
-
6
-
•
71
10
*
3
57
-
1
195
-
7
50
20
84
•
238
193
-
3
6
35
1
3
2
26
3
1
67
26
•
8
5
9
63
64
1
*
62
28
2.812
.
Total 1 nternatlonal
and regional
Grand total
Less than $500,000.
74
1.717
_•*..
73.947 61.653
323
313
1*
1
2,421
-
51
164
120
57
2.864
2,622
8
19
-
-
-
•
-
-
*
-
-
-
•
21
-
2
31
•
38
6
-
*
5
2.042
193
38
13,765 10.622
717
5,057 10,147
2.000
97,588 79,067
1.722
13.292
9,927
428
664
102.345
79,268
2.119
3.734
20
*
•
166
.•i_.
.»•_.
20
-
•
•
•
-
-
2
149
4
1
•
•
-
-
7
-
3
-
-
•
17
7
_
1
,
1.723
4,
97
7,759
3.302
-
*
1
__
•
*
-
-
117
44
•
362
54
-
12
3
2
530
*
20
*
6
25
126
5
*
j_
*.
161
1.04
_-i_*
•
1
5
1
45
,.•_.
4
*
66
.
•
*
-
I
3
.
.
5
1
6
21
4
^
i
II
I
!
LZ
f
I
I
5
1
253
11
3
4
200
14
21
152
49
*
5
85
7
1,669
324
17
248
1
t7_
960
n
22
54
12
20
35
4
4J
1
3
726
194
154
6
1,850
247
686
I
175
82
176
191
1.860
975
76
13
329
257
211
2.097
691
6_1
16
251
919
157
foreign countries.. 274.270 174.798
Interna tional and regional:
International
European regional
Latin American regional...
Asian regional
African regional
Middle Eastern regional..
1
54
*
Total other countries
1
21
87
44
Other countries:
Australia
All other
*
399
132
2,642
1
Total Africa
Total
174
5.772
88.029
85.480
313
148
2.881
4.496 21,726 32.512 31,875
1.629
35
298
-
-
_
109
14
-
8,864 266.234169,504
194
_
393
313
1
24
-
.
"2-
._
1-
84,776 82.482
1
1
5
45
3
339
2,756
13
-
*
-
-
-
*
-
-
-
91,383
88,414
1.644
47
304
777
197
87,873 85.208
6.139 21,772 32.616 32.652
9,061
344,106254,712
2.625
365,652 263.212
-11
20
3_
3,408 10,349 26.205 35.645 11.123
_____
.__i_
1.290
32
245
701
21
1
*
297
1
•
4
45
-
-
-
-
34
250
1,043
2,706
-
1,312
26
*
-^
26
4,720 10,382 26,455 36.668 11,149
62
302.756
63
FOREIGN CURRENCY POSITIONS
IimtODUCTIOII
ickg round
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.
Reporting
foreign exchange market currencies and U.S. dollars held abroad.
has been required pursuant to title II of Public Law 93-110, an amendment to
of
Implementing
Modification
Act
September
21,
1973.
and
Par
Value
the
Statistics on the positions have been published since
Treasury regulations.
March 1977 beginning with data for December 1975.
'Majority-owned foreign partnerships' are those organized under the laws
of a foreign country In which one or more nonbanking concerns or nonprofit
Institutions In 'the United States, directly or Indirectly, own more than 50
percent profit Interest.
"Majority-owned foreign subsidiaries" are foreign
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.
Reporting Threshold
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
reports.
The most recent revision of the nonbank foreign currency forms (see
below) became effective as of the last business day of March 1983,
Co^nfi Definitions and Concepts
The term 'United States' means the States of the United States, the
District of Columbia, the Commonwealth of Puerto Rico, American Samoa, Midway
The term "foreign' means
Island,
the Virgin Islands, and Hake 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 Unl ted States 1 ncl ude amounts reported by sol e propri etorshlps, 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
through
Intercompany
accounts.
The
the
except
data
Include
foreign
subsidiaries of a few foreign-owned U.S. -based corporations.
Assets, liabilities, and foreign exchange contract data are reported on
the basis of time remaining to maturity as of the date of the report,
regardless of the original maturity of the Instrument Involved.
"Spot" means
due for receipt or delivery within 2 business days from the date of the
report.
"Short-term" neans maturing In 1 year or less from the date of the
report.
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
Institutions was $1 million equivalent on all nonbank forms from March 1975
It was raised to S2 million equivalent on the monthly
through November 1976.
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.
Firms must report their entire foreign currency position In a specified
foreign currency If a specified U.S. dollar equivalent value Is reached In any
category of assets, liabilities, exchange contracts bought and sold, or the
In general, exeinjtlon levels are applied to the
net position In the currency.
entire firm.
In reports on thejr foreign branches, majority-owned foreign
partnerships, and majorlty-cwned foreign subsidiaries, U.S. banks and nonbanks
are required to report the U.S. dollar-denominated assets, liabilities,
exchange contracts bought and sold, and net positions of those branches,
partnerships, and subsidiaries with reportable positions In the specified
foreign currencies.
Description of Statistics
Data collected on the Treasury foreign currency forms are published In
The first section presents a summary
the Treasury Bulletin In seven sections.
Sections II
of wor1(^1de net positions In all of the currencies reported.
through VI each present data on a specified foreign currency.
Section VII
presents the U.S. dollar positions of the foreign branches and subsidiaries of
U.S. firms which are required to report In one or anre of the Specified
foreign currencies.
64
FOREIGN CURRENCY POSITIONS
— Summary Positions
Section
FOP— 1—1. — Nonbanking Firms' Positions^
I.
Table
[In millions of foreign currency units,
except yen, which Is In binions]
Report
66
FOREIGN CURRENCY POSITIONS
Section
Table
II.
- Canadian
FCP— ll-l. — Nonbanking
[In ml
Report
date
Assets 2/
~
Liabmtfes
3/
Dollar Positions
T }
Firms' Positions -
ions of dollars]
Exchange bought^/
Exchange soldj^/
(4)
Net
posit1on J^/
(5)
Exchange
rate _6/
Position
held In:
(6)
(1)
(2)
(3)
7/3J/85
8/30/85
4,527
4,380
806
670
1,652
1,762
2,592
2,896
2,781
2,576
0.7388
0.7325
United States
United States
9/30/85
52.470
4,428
43,818
749
1,396
1,462
2,766
2,749
7,282
2,392
0.7287
0.7287
Abroad
United States
56,898
44,667
2,858
5.515
9,674
0.7287
World»1de
4.898
4.771
746
731
1.119
1,763
2,471
3.133
2,800
2.670
0.7311
0.7226
United States
United States
53.405
4.295
44,861
733
1.215
1.338
2.458
2.582
7,301
2,318
0.7156
0.7156
Abroad
United States
57.700
45,594
2.553
5.040
9,619
0.7156
Worldwide
10/31/85
U/29/85
12/31/85
Table FCP-ll-2.
-
Weekly Bank Positions^
[In millions of dollars]
66
FOREIGN CURRENCY POSITIONS
Section
III.
Table FCP-lll-1.
- German Mark Positions
- Nonbanking Firms' Position*^
[In millions of marks]
Report
date
llillii
8/30/85
9/30/85..
Assets
_2_/
Li
abM
i
ties
_3_/
Exchange bought
(1)
(2)
(3)
1,457
2.023
5.363
5.008
26.800
28.514
4_/
Exchange sold
(4)
17.933
18.268
J_/
Net
positlon ij
(5)
4.961
7.261
Exchange
rate ij
Position
held In:
(6)
2.7898
2.8150
United States
United States
Abroad
United States
67
FOREIGN CURRENCY POSITIONS
Section
IV.
Table FCP-IV-1.
[In
Report
date
Liabilities
(11
7/31/85.
8/30/85.
431
394
g/30/85.
1.758
487
10/31/85.
11/29/85.
3/
-
Japanese Yen Positions
Nonbanking Firms' Positions
billions of yen]
Exchange bought._4_/
Exchange sold
1,624
1,564
4_/
Net
position 5/
(5)
(3)
528
464
^
1.333
1.285
194
208
Exchange
rate 6/
(6)
236.2300
239.0500
Position
held in;
68
FOREIGN CURRENCY POSITIONS
Section
Table FCP-V-1.
V.
-
—
Swiss Franc Positions
Nonbanking Firms' Positions^
rin millions of francs]
Report
date
69
FOREIGN CURRENCY POSITIONS
Section
Table
VI.
-
Sterling Positions
FCP— VI— 1. - Nonbanking
[In m1
1
Hons
Firms' Positions-'
of pounds]
Report
Llabi
date
1,027
988
7/31/85.
8/30/85.
.
10/31/85.
11/29/85.
21.743
1,208
lutes
3/
Exchange bought
4_/
Exchange sold_£/
(2)
(3)
(4)
1,701
1,527
5.367
5,420
5,783
6.059
Net
pos1 t1on _5/
(5)
-1,090
-1,178
Exchange
rate 6/
(6)
1.4140
1.3902
Position
held 1n:
70
FOREIGN CURRENCY POSITIONS
VII. - U.S. Dollar Positions
- Nonbanking Firms' Foreign
Section
Table FCP-VII— 1.
[In
Report
date
Assets
U
Liabilities
_£/
Exchange sold
4,133
4,326
Table FCP-VII-2.
-
Net
position _5/
_£/
(1)
(3)
35,033
36,687
44,542
43,958
Subsidiaries' Positions^
minions of dollars]
Exchange bought
(2)
(1)
9/30/85..
12/31/85..
V
Abroad
Pos1 tlon
held In:
(5)
10,010
7,928
3.632
3,669
Abroad
Abroad
Weekly Bank Foreign Office Positions'
[In millions of dollars]
Assets 8/
Liabilities 9/
Exchange bought 10/
Exchange sold 10/
Worldwide
net
position
Report
date
(1)
(2)
(3)
(4)
(5)
7/03/85
7/10/85
7/17/85
7/24/85
7/31/85
306,866
308.995
306,830
313,136
304.250
321,717
323,198
321,508
328,467
318,285
330.066
372.275
367.356
366.389
363.503
309.359
352.520
347.712
348,297
343,401
5.856
5.552
4,966
4,761
6.067
8/07/85
e/14/85
6/21/85
8/28/85
299,037
301,634
298,545
307,315
314,095
317,423
314.532
321.777
376,594
370,663
355. 98S
357,332
357,604
349,828
335,814
338,347
5.932
5.046
4,184
4,523
9/04/85
9/11/85
9/18/85
9/25/85
301,059
301,621
298,724
296,803
314,863
316.276
313,900
311,024
367,816
372,047
365,648
374,266
347,539
352,146
345,635
352,898
6.472
5,244
4,837
7,147
10/02/65
10/09/85
10/16/85
10/23/65
10/30/85
296.993
288,635
290,187
292,596
296,548
307,902
304,480
305,444
307.365
312,148
384,765
364,081
354,170
361,976
394,381
364,648
342,941
333,394
333,478
374,012
9,208
S.295
S.519
3,731
4.769
11/06/85
11/13/85
11/20/85
11/27/85
293,881
287,450
293,966
288,359
309,863
303,445
308.421
302.775
367,338
372,915
379,815
375,904
367,146
353,230
359,635
355,744
4,210
3,690
5,52S
5,744
12/04/85
12/11/65
12/18/85
12/25/85
290,953
284,717
288,768
294,841
306.554
299.992
304.237
308.886
366,394
375.468
351.910
338.074
366,210
355,696
331,426
317.956
4,583
4.297
5,013
6.073
See footnotes on following page.
71
FOREIGN CURRENCY POSITIONS
Footnotes to Tables
SEaiON
U
~
FCP-I through FCP-VII
I
Mor1<^1de net positions on the last business day of the calendar quarter
of 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 cotifianles' Investment In their majorityowned foreign subsidiaries, fixed assets (plant and equipment), and
capitalized leases for plant and equipment.
majority-owned foreign subsidiaries.
Capitalized plant and equipment leases are excluded.
Includes both spot and forward exchange rates.
Columns
Zf Foreign branches and majority-owned partnerships and subsidiaries only.
~
V
Weekly worl(»f1de 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.
V
Foreign branches and majority-owned subsidiaries only,
SECTIONS II THROUGH VII
1/
~
Positions of nonbanking 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.
2/ Excludes
"
receivables and installment paper sold or discounted before
maturity, fixed assets (plant and equipment), and parents' Investment In
1
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.
If Excludes capital assets.
9/ Excludes capital
_10/
n/
liabilities.
Includes both spot and forward exchange contracts.
Columns
3
and 9 less coluinns 6 and 12.
12/ See footnote 6.
their
VII,
foreign
foreign
72
EXCHANGE STABILIZATION FUND
- Balances
Table ESF-1.
as of Sept. 30, 1985, and Dec. 31, 1985
[In thousands of dollars]
Assets.
HablHtfes. and capital
Sept. 30. 1965. through
Dec. 31. 1985
Sept. 30. 1985
Dec.
31. 1985
Assets
U.S. dollars:
Held at Federal Reserve Bank of New York.
Held with Treasury:
U.S. Government securities
Other
Special drawing rights ^Z
Foreign exchange and securities Zj\
German marks
Japanese yen
Pounds sterl 1 ng
Swiss francs
Accounts receivable
99,997
2.072.762
1.067.000
6.846.933
(1,646,222)
445,882
426.540
1.067.000
7.292.815
1.762.316
1,927,069
11,215
15,118
111.853
1.161.957
855,530
593
1.157
21.386
2.924.273
2.782.599
11.808
16.275
133.239
Total assets
940.280
Liabilities and caplul
Current liabilities:
Accounts payable
Advance from U.S. Treasury (U.S. drawing
on IMF)
64.744
V
4.090
1,067,000
Total current liabilities
Other liabilities:
Special drawing right certificates
Special drawing rights allocations
Total other liabilities
Capital:
Capital account
Net Income (loss) (see table ESF-2)
68.834
1,067.000
4.090
1.135,834
4,618.000
5,190,543
100.000
191.196
4,718,000
5,381,739
9.808,543
291.196
200,000
2,680,876
644,994
Total capital
200.000
3.325.870
3.525.870
Total liabilities and capital
13.821,163
See footnotes at end of table ESF-2.
Table
ESP— 2. — Income and Expense
[In thousands of dollars]
Current quarter
Oct.
1,
1985.
through
Dec. 31, 1985
Year to date
1. 1985.
through
Dec. 31, 1985
Oct.
Incoae and expense:
Profit (loss) on:
Foreign exchange
455.869
455.869
Adjustment for change In valuation of SDR holdings
and allocations
65.848
Interest (net charges) on:
Special drawing rights
U.S. Government securities
Forel gn exchange
34,493
16,885
71,902
34.493
16.885
71.902
644.997
644.997
U
Income from operations
Retained earning adjustment for fiscal 1985
V.
Net Income
\l Beginning July 1974, the International Monetary Fund (IMF) adopted
a technique for valuing the special drawing rights (SDRs) based on
a 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.
7/ A non-interest-bearing liability to the U.S. Treasury resulting from
the transfer to the Exchange Stabilization Fund of foreign currencies
drawn from the IMF by the United States.
(3)
(3)
644.994
644,994
£/ Represents an adjustment to retained earnings for Income that was
recorded In fiscal 1986 that had been earned in fiscal 1985.
—
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
succeeding years appear in subsequent reports through 1980. Quarterly
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.
CASH MANAGEMENT INITIATIVES
76
Collection and Deposit Legislation
The Deficit Reduction Act, passed in 1984. put the Congress on record
that the deficit is a major economic concern and under section 2652 {collection and deposit legislation), the Department of the Treasury was given the
*
authority to:
*
Prescribe methods and timeframes for collecting and depositing monies,
*
Assess charges for noncompliance,
*
Credit charges Imposed to the cash management improvements fund.
Developments
In Fiscal
1986
Periodic cash management reviews will be conducted by agencies to
Identify opportunities for improvement {a Cash Management Review Guide
was developed by Treasury to assist agencies in identifying and
inplementlng initiatives.
The Review Guide was published as a
supplement to I TFM 6-8000);
* As
a last resort. If an agency does not lirplement a proven costbeneficial Initiative, Treasury has the authority to assess a charge
against an agency's salary and expense appropriation In the amount
determined to be the interest savings lost due to noncompliance;
and
and authority under this legislation was delegated to the
ssloner, Financial Management Service, by Treasury's Fiscal Assistant
Secretary.
The legislation will allow the Service to promote and institutionalize cash management In all Federal agencies.
Responsibility
appeals process 1s In place to ultimately resolve any conflicts
between Treasury and an agency over Issues of noncompliance;
* An
Cotimi
* Any
charges levied against an agency for noncotrpllance will be
deposited Into the cash management iirfirovements fund maintained in
Treasury's Trust and Revolving Funds Branch. These funds will be made
available to agencies to promote new and Innovative cash management
mechanisms with potential Governmentwide applicability. Agencies were
formally notified of the existence of the funds and procedures for
applying for funding in a bulletin Issued 1n January 1986.
order to Implement this legislation, the Department of the Treasury
Issued a new part 206 to 31 C.F.R., chapter II, entitled "Management of
Federal Agency Receipts and Operation of the Cash Management Improvements
The effective date of the regulation was October 3. 1985; highlights
Fund,"
of the regulation are as follows:
In
* Reinforcement
that the purpose of legislation
institutionalize effective cash management;
*
is
to
promote
and
As an outgrowth of a November 1985 cash management trafning seminar,
additional sessions were held to train agency personnel more specifically on
the requirements of the cash management review process.
Several 1-day
seminars were held in January and again in April 1966 to enhance agency
knowledge on the benefits of the review process and the provisions of the
collection and deposit legislation impacting upon the review process.
Billing by agencies is required within 5 days of services rendered,
delivery of goods, or payment otherwise due;
* Treasury's Financial
Management Service may prescribe use of specific
collection mechanisms by the agencies;
* Agencies will
achieve same-day deposit of monies except what noncost-
justlfled;
Reform '88 Cash Management
Treasury's Financial Management Service/Federal Finance has lead a^ncy
responsibility for monitoring and reporting progress on Reform '88 cash
management Initiatives undertaken by about 20 Federal
departments and
The overall goal of the project is to improve Government's payments
agencies.
and
collections systems, with special
attention being directed toward
Identifying
additional
application
for
state-of-the-art
technology
and
expanding
the
of
use
other mechanisms,
such
as
lockboxes,
automated
clearinghouses, and cash concentration systems.
Agencies are providing quarterly reports to Treasury on the status of
approximately 515 Initiatives.
For fiscal years 1983. 1984, and 1985, interest
savings
totaled $178 million,
and $837 million,
$335 million,
respectively.
Interest savings for first-quarter fiscal 1986 and combined interest
savings to date for each of the participating agencies are shown below.
Interest Savings for Fiscal 1986
[In thousands of dollars]
Interest savings
Department/agency
Agency for International Development
Agricul ture
Commerce
Defense
Education
Energy
Environmental Protection Agency
General Services Adml ni strati on
Health and Human Services
Housing and Urban Development
Interior
Justice
Labor
National Aeronautics and Space Administration
National Archives and Records Administration
Railroad Retirement Board
Small Business Administration
State
Transportation
Treasury
Veterans Adml n1 stration
Total
Actual
interest
{1st quarter)
Actual
interest
{to date)
1.087
8,306
876
40,375
1,033
2,674
911
840
34,563
2.615
2,040
2,421
2,065
4,320
8,284
46,351
3,172
265,291
37.040
23,868
6.311
2,105
297,389
52.705
15.190
13,430
68.401
21.471
14,716
639
1,879
2,083
49,831
1,465
69,878
3,722
7,927
10,807
381,131
13,062
174,739
1,349,536
1
,
NATIONAL BANK REPORT
80
Income and Expenses
of Foreign
and Domestic Offices and Subsidiaries
[Dollar amounts in milHons.
of National
Banks, Dec. 31, 1985
Source: Office of the Comptroller of the ^ Currency]
Consolidated
foreign and
domestic
Interest income:
Interest and fee income on loans
Income from lease financing receivables
Interest income on balances due from depository Institutions
Interest and dividend income on securities
Interest income from assets held in trading accounts
Interest income from Federal funds sold and securities purchased under agreements to resell
$112,160
1.691
8,386
19,255
1,999
5,588
Total Interest income
77,325
11,124
5,826
233
655
Total interest expense
Total noninterest income
Gains and losses on securities not held in trading accounts
Noninterest expense:
Salaries and employee benefits
Expenses of premises and fixed assets (net of rental income)
Other noninterest expense
Total noninterest expense
Income (loss) before income taxes and extraordinary items and other adjustments
Applicable income taxes
Income before extraordinary items and other adjustments
Extraordinary Items and adjustments, net of taxes
Net
i
ncome
Total cash dividends declared
Recoveries credited to allowance for possible loan losses
Losses charged to allowance for possible loan losses
Net loan losses
Ratio to total operating Income:
Interest on deposits
Other interest expense
Salaries and etrployee benefits
Other noninterest expense
Total operating expenses
Ratio of net income (annualized) to:
Total assets (end of period)
Total equity capital
75.2
1.1
5.6
12.9
1.3
3.7
149,082
Interest expense:
Interest on 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 mortgage indebtedness and obligations under capitalized leases
Interest on notes and debentures subordinated to deposits
Net Interest income
Provision for loan and lease losses
Provision for allocated transfer risk
Noninterest income:
Service charges on deposit accounts
Other noninterest income
Percent
distribution
81.3
11.7
6.1
.2
.7
95,162
53,920
11,220
54
,
4,323
15,618
21.7
78.3
19.942
744
24,026
8,099
18,234
50,358
12,973
3,217
9.7S6
235
9 ,991
4,877
1,762
10,299
8,537
45.7
10.6
14.2
15.6
86.1
.61
10.36
47.7
16.1
36.2
CURRENCY AND COIN
OUTSTANDING AND IN CIRCULATION
U.S.
82
U.S.
Currency and Coin Outstanding and
in
Circulation
[Source: Financial Management Service]
Mnuirrs outstandikg and in circuution
Mar.
31, 1986
Currency
Coin ;/
Total
currency and
coin
Amounts outstanding
Less amounts held by:
The Treasury
The Federal Reserve banks..
Amounts In circulation
Federal Reserve notes 1/
Total
U.S. notes
Currency no
longer Issued
S228.529.709.019 $211,914,917,121 J2U.322.er6. 784 $322. 539. 016 $269,501,321
Dollars 3/
$16,614,791,898
Fractional
coin
$2,024,703,898 $14,590,088,000
635.140.248
34,700,612.226
34.802.211
34.131.049.425
4,739.143
34.131.032.148
29,872.239
190.829
17.277
600.338.037
569.562.801
363.309.528
157.001.260
247.028,509
412.561,541
193,193,956,545
177,749,065,485
177,187,105,493
292,666.777
26S.293.215
15,444,891.060
1,514,393.110
13.930.497,950
CURREKCT It CIRCUUTION BT DENOMINATION
COtVARATIVE TOTALS OF NONET IN
CIRCULATION— SELECTED DATES
War. 31. 1986
Amount
Denomination
Federal
Reserve
notes 1/
$3,590,269,312
714.875.086
4 ,835,050.285
11,075.994,880
52,994 ,755 ,420
22,926,520,700
81 ,274,480,200
153,623,000
178.201 ,000
1.815,000
3.480.000
$1
$2
$5
$10
$20
$60
$100
$500
$1 .000
$5.000
$10.000
Fractional parts
Partial notes
W
487
115
Total currency
177.749.065.485
1/ Issued on and after July 1,
1929.
7/ Excludes coin sold to collectors at premlun prices.
7/ Includes $481,781,898 In standard silver dollars.
$3,437,265,846
581.916.422
4.684.381,155
11,052,718,800
52.974,519,020
22.914.872,650
81,204.858.100
153.432.500
177.991.000
1.770.000
3.380.000
U.S.
notes
$143,481
132.945.666
112.315.210
5.950
3,380
47,253,000
Currency
(in
mil lions)
no longer
Issued
$152,859,985
12.998
38.353.920
23.270.130
20.233.020
11.648,050
22,369,100
190,500
210,000
45,000
100,000
487
Mar.
Feb.
Mar.
June
June
June
June
June
June
June
June
31, 1986
28, 1986
31, 1985
30, 1985
30, 1980
30, 1975
30, 1970
30. 1965
30, I960
30, 1955
30, 1950
$193,193.9
191,029.7
179.193.4
185,890.8
127.097.2
81.196.4
54.351.0
39.719.8
32.064.6
30.229.3
27.156.3
Per
capita 4/
$801.68
r792.91
r750.68
778.38
558.28
380.08
265.39
204.14
177.47
182.90
179.03
25
177.187.105.493
292.666.777
269,293,215
4/ Based on Bureau of the Census estimates of population.
T/ Represents value of certain partial denominations not presented for
redemption.
oU.S. GOVERNMENT PRINTING OFFICE: 1986-491-830
lO'
DEPARTMENT OF THE TREASURY
FINANCIAL
MANAGEMENT SERVICE
OFFICE OF THE COMMISSIONER
WASHINGTON,
D.C.
20226
OFFICIAL BUSINESS
PENALTY FOR PRIVATE USE, $300
FIRST-CLASS MAIL
POSTAGE & FEES PAIL
of the Treasu
Permit No. G-4
Department
@FedFRASER