Full text of Treasury Bulletin : November 1982

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MI

IfiEASUfiy

DEPARTMENT LIBRARy

DEPARTMENT OF THE TREASURY
FISCAL SERVICE, BUREAU OF
GOVERNMENT FINANCIAL OPERATIONS

POSTAGE AND FEES PAID
DEPARTMENT OF THE TREASURY

OFFICE OF THE COMMISSIONER

WASHINGTON,

TREAS

-

553

D.C. 20226

OFFICIAL BUSINESS
PENALTY FOR PRIVATE USE, S300

FIRST CLASS

Take ,^

stock ;
in^menccfc
.

Buy U. S. Savings Bonds

I

November 1982

Special

I

Announcement

Inside

Treasury Bulletin

DEPARTMENT OF THE TREASURY
OFnCE OF THE SECRETARY
WASHINGTON, D.C.
The Treasuo BullcCin is for sale
U.S. Governmenl Priming

b> Ihe Supcrin(cndent of
Office,

Documencs,

WuhinKlon, D.C. 10401

ANNOUNCEMENT
Publication of
first

ed

tlie

November 1982

the

Treasury Bulletin
issue.

will be published in February 1983. Thereafter, the Bulletin
May, August, and November, or the second month of every quarter.

quarter of fiscal 1983,

in

switch from monthly to quarterly following the release of
quarterly issue, which for most data series will cover the

will

The inaugural

will

be publish-

A change in emphasis as well as frequency will be reflected in the quarterly Treasury Bulletin. A
new, streamlined look will characterize the Bulletin, in which summary-level information is stressed
and excess detail and duplicate information are eliminated from the statistical tables. This change
will more closely approximate the original purpose of the Bulletin to provide information in a compact and usable form.

CONTENTS

Page

Article - Treasury financing operations

V

FEDERAL FISCAL OPERATIONS
FFO-l. - Summary of fiscal operations

- Budget

2

receipts by source

t,

FFO-3. - Budget outlays by agency

5

FFO-4. - Undistributed offsetting receipts

7

FFO-5. - Budget outlays by function

g

FFO-6. - Investment transactions accounts In Federal securities (net)

10

FFO-7. - Trust funds transactions

11

-

FO-I.

-

FO-2.

FEDERAL OBLIGATIONS
Gross obligations Incurred within and outside the
Federal Government by object class

12

Gross obligations Incurred outside the Federal
Government by department or agency

13

ACCOUNT OF THE U.S. TREASURY
UST-1. - Status of the account of the U.S. Treasury

15

UST-2. - Elements of changes in Federal Reserve and tax and loan note
account balances

16

UST-3. - Gold assets and liabilities of the Treasury

17

-

MS-l.

MOHETARY STATISTICS
Currency and coin in circulation

18

FEDERAL DEBT
Summary of Federal debt

FD-1.

-

FD-2.

- Computed Interest charge and computed Interest rate on

FD-3.

-

FD-4.

- Government account series

FD-5.

-

FD-6.

-

FD-7,

- Maturity distribution and average length of marketable

FD-8.

- Debt subject to statutory limitation

FI>-9.

-

Status and application of statutory limitation

25

FI>-10.

-

Treasury holdings of securities

26

CM-l-I, - Total UabllltleB by type of holder

65

CM-I-2. - Total liabilities by type, payable In dollars - part A

66

CM-I-2. - Total Usbllltlea to nonmonetary International and regional
organizations by type, payable In dollars - part 8

66

CM-I-3. - Total liabilities by country

67

CM-I-4. - Total liabilities by type and country

68

CLAIMS ON FOREIGNERS REPORTED BY BANKS IN THE UNITED STATES
CM-II-1. - Total clalas by type

69

CM-II-2. - Total claims by country

70

CM-II-3. - Total claims on foreigners by type and country reported by
banks In the U.S

71

SUPPLRMENTARY LIABILITIES AND CLAIMS DATA
REPORTED BY BANKS - U.S.
CM-lII-1. - Dollar claloa on nonbank foreigners

interest-bearing public debt

-

CM-IV-2.

- Total

CM-IV-3.

-

CM-IV-4.

- Total claims by country

76

CM-IV-5.

- Total claims by type and country

77

CM-V-1.

-

Foreign purchases and sales of long-term domestic
securities

Participation certificates

22

78

CM-V-2.

-

Foreign purchases and sales of long-tera foreign securities...

78

CM-V-3.

- Net

23

CM-V-4.

-

Interest-bearing public debt

24
24

CM-V-5.

- Foreign

securities

27

74

Total liabilities by type and country

75

foreign transactions in narketsble U.S. Treasury bonds
and notes by country

79

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

80

purchases and sales of long-term securities,
latest year

81

FOREIGN CURRENCT POSITIONS
SUMMARY POSITIONS

PUBLIC DEBT OPERATIONS
PDO-1. - Maturity schedule of interest-bearing marketable public debt

73

Uabllltles by country

TRANSACTIONS IN LONG-TERM SECURITIES BY FOREIGNERS

21

Interest-bearing securities issued by Government agencies

Total liabilities and claiu by type

CM-IV-1.

19

20

72

LIABILITIES TO, AND CLAIMS ON. FOREIGNERS REPORTED BY
NONBANKING BUSINESS ENTERPRISES IN THE UNITED STATES

19

Interest-bearing public debt

62

CAPITAL WD VEME Iff B
LIABILITIES TO FOREIGNERS REPORTED BY BANKS - U.S.

1

FFO-2. - Budget receipts by source

Chart

IFS-4. - Weighted average of exchange rate changes for the dollar

83

Nonbanklng firms' positions

FCP-I-1.

-

FCP-I-2.

- Weekly bank positions

83

PDO-2. - Offerings of bills

28

PDO-3. - New money financing through regular weekly Treasury bills

30

FCP-II-1. - Nonbanklng firms* positions

84

PDO-4. - Public offerings of marketable securities

32

FCP-II-2. - Weekly bank positions

84

PDO-5. - Unmatured marketable securities Issued at a premium or discount..

35

PDO-6. - Allotments by Investor classes on subscriptions for public
.>*.
marketable securities

39

PDO-7

.

PDO-8.

- Disposition of public marketable securities

GERMAN HARK POSITIONS
FCP-III-1. - Nonbanklng firms' positions

85

FCP-IIT-2. - Weekly bank positions

85

41

JAPANESE YEN POSITIONS
-

42

Foreign series securities

PDO-9. - Foreign currency series securities issued to residents of
^^

foreign countries
SB-1.

45

SB-2.

- Sales and redemptions by periods, all series combined

45

SB-3.

- Sales and redemptions by periods,

SB-4.

-

Redemptions of matured and unmatured savings bonds

48

SB-6.

-

Sales by States

^^

SN-1.

UNITED STATES SAVINGS NOTES
- Sales and redemptions by periods
-

series E through K

OWNERSHIP OF FEDERAL SECURITIES
Distribution of Federal securities

OFS-2. - Estimated ownership of public debt securities

FCP-IV-1.

-

Nonbanklng firms* positions

86

FCP-IV-2.

-

Weekly bank positions

86

SWISS FRANC POSITIONS

UNITED STATES SAVINGS BONDS
- Sales and redemptions by series, cumulative

OFS-U

CANADIAN DOLLAR POSITIONS

FCP-V-1.

- Nonbanklng firms' positions

FCP-V-2.

-

46

87
87

Weekly bank positions

STERLING POSITIONS
FCP-VI-1.

-

Nonbanklng firms* positions

88

FCP- VI- 2 .

-

Week ly bank pos 1 1 ions

9*

UNITED STATES DOLUR POSITIONS ABROAD
50

51

FCP-VII-1. - Nonbanklng firms' foreign subsidiaries' positions

89

PCP-VII-2. - Weekly bank foreign office positions

89

FINANCIAL OPERATIONS OF GOVBRIKEirT AGENCIES AND PONDS
FEDF,RAL CREDIT PROGRAMS

52

MARKET QUOTATIONS ON TREASURY SECUHITIES
MQ-1.

-

Treasury bills

53

MQ-2.

-

Treasury notes

^^

HQ-3.

-

Treasury bonds

Chart

-

Yields of Treasury securities

AY-1.

-

AVERAGE YIELDS OF LONG-TERM BONDS
Average yields of long-term Treasury, corporate, and
municipal bonds

Chart

-

'5

CA-II-1.

-

'l

Direct sales and repurchases of loans

TRUST FUNDS
GA-III-l. - Civil service retirement and disability fund
CA-ni-2. - Federal old-age and survivors insurance trust fund

92

93

56

5'

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

GA-IlI-3. - Federal disability Insurance trust fund

'*

GA-III-4. - Federal ho«pical Insurance fund
GA-IIl-5. - Federal supplesentary acdical Insurance trust fund

'*

GA-lII-6. - Railroad retirement accounts

'"'

97

"

^'

GA-lII-7. - Unemployment trust fund
CA-III-8. - National service life insurance fund

^^

CA-III-9. - Investments of specified trust accountii

»02

llablllclee to foreigners

IFS-3. - Nonmarketable U.S. Treasury bonds and notes Issued to official
institutions and other residents of foreign countries

CUHDLATIVE TABLE OF CONTENTS

'"'

61

IFS-1. -

INTERNATIONAL FINANCIAL STATISTICS
U.S. reserve assets

IFS-2. - Selected U.S.

•

^

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

*0I

III

November 1982
TREASURY FINANCING OPERATIONS
Auction of 2-Year Notes

from Government accounts and Federal Reserve bank* for
their own account

On October 13 the Treasury announced that It would auction $6,750 million
of 2-year notes to refund $4,345 million of notes maturing October 31, 1982,
and to raise $2,A05 million new cash.
of

Series X-1984,

Interest

The notes offered were Treasury Notes

to be dated November

1982,

1,

payable on April 30 and October 31

coupon rate of

9-3MZ was

due October 31,

1984, with

In each year until maturity.

A

A coupon rate of 10-3/8X was set on the bonds after the datcralnat
Ion as
to which tenders w«re accepted on a yield auction baala.
The bonds of 2007-12
will be dated November 15, 1982. due November 15, 2012, with interest
payable

semiannually on Hay 15 and November 15 until aaturlty.

set after the determination as to which tenders were

Tenders for the bonds were received until 1:30 p.m., EST, Hoveaber 9, ad

accepted on a yield auction basis.

totaled $7,428 nllUon, of which $3,002

Tenders for the notes were received until
and totaled $13,887 million,

of which $6,751

1:30 p.m.,

EDST,

October 20,

million was accepted at yields

ranging from 9.72Z, price 100.053, up to 9.85X, price 99.823.

Noncompetitive

tenders were accepted In full at the average yield of accepted tenders, 9.79X,

These totaled $1,326 million.

price 99.929.

99.226.

These

totaled

process,

Federal

$575

the

million of

Reserve

banks

tenders were

agents

as

authorities and $478 million
from Government

mil Hon

$6,751

of

Competitive tenders accepted

accepted

accepted at
foreign

for

In

the

auction

the average price

and

addition

from

the average price

accounts and Federal Reserve banks for their own account in

$159

Government

Coopetltlve

tenders

accepted

fro«

accounts

$3,002 million

the

to

million

of

tenders

of

tenders accepted

were accepted

Federal Reserve banks

and

for

In

average

the

at

auction

the

price

thel r own account

froa

and

In

exchange for maturing securities.

international monetary

were accepted at

tenders

of

tenders

million.

$701

private Investors totaled S2,30I million.
In

to

at yields ranging

Hooco^etltlve tenders

were accepted in full at the average yield of accepted cendera. 10.46X, price

process,

addition

illlon was accepted

from 10.441. price 99.407, up to 10.48X, price 99.045.

from private Investors totaled $5,425 million.
In

In

exchange for maturing securities.

Payment

completed

for

on

or

accepted

tenders

before November

three auctions was required to be

all

In

1982,

15,

In

cash,

maturing securities,

or

other funds Immediately available to the Treasury.

exchange for maturing securities.
Tenders were received in all of the auctions at Federal Reserve hanks and

Tenders were received at Federal Reserve banks and branches and at the

Bureau of the Public Debt, Washington, D.C.

authorized

to be

Issued

denominations

In

Bearer and registered notes were
of

$5,000,

$10,000,

and

$100,000,

$1,000,000.

branches and at
registered

denominations
Issues

the Bureau of the Public Debt, Washington,

notes
of

$1,000.

10-year

of

registered

and

bonds

and

bonds .

authorized

$100,000,

$10,000.

$5,000.

notes

were

and

$ 5 .000 .

and

D.C.

to

Issued

$1,000,000

.000 ,

$1

Nearer and

be

for

$ 100 ,000

.

In

the

and

$1,000,000 for the Issue of 3-year notes.

November Quarterly Financing
On October 27 the Treasury announced that it would sell to the public at

52-Week Bills

auction, under competitive and noncompetitive bidding, up to $6,000 million of

3-year notes of Series P-1985,
1992,

$4,000 million of 10-year notes of Series C-

and $3,000 million of 30-year bonds of 2007-12 to refund $4,620 million

of publicly held Treasury securities maturing November 15, and to raise $8,400

million new cash.

The

1983.

November

October

A coupon rate of 9-3/4J was set on the notes of Series P-1985 after the

determination as to which tenders were accepted on a yield auction basis.

The

28.

accepted
99.619.

accepted

at

the notes

ranging

yields

Series

of

totaled

and

million,

of

price

9. 70%,

whlc'.i

100.128,

$6,001

million was

up to 9.90X,

price

Noncompetitive tenders were accepted In full at the average yield of
tenders,

totaled

These

99.720.

price

9.86X,

million.

$1,294

In

Federal

addition
$330

the

to

million

Reserve

banks

million

$6,001

tenders

of

agents

as

of

tenders accepted

were accepted at
foreign

for

and

the

in

the

$5,016

million

of

million,

$11,318

totaled

of

364-day

bills

maturing

Tenders were opened on

which

$7,000

million

was

bills

the

themselves

Issued at the average price to Federal Reserve

and as

agents

for

foreign

International

and

monetary

The average bank discount rate was 8.5671.

average price

International

13-Week and 26-Week Bills

Issues of regular weekly Treasury bills In October totaled approximately

$44,800 million.

These

issues were offered to refund bills maturing In the

amount of approximately $40,775 million and to raise about $4,025 million In

Average rates for the new Issues are shown In the following table.

auction
from

monetary

tenders were accepted at the average price

authorities and $600 million of

for

new cash.

Competitive tenders accepted from private Investors totaled $4,707 million.

process,

refund

P-1985 were received until 1:30 p.m.,

$12,821

from

They

$1,270 million of

authorities.

3,

to

accepted. Including $234 million of noncompetitive tenders from the public and

with Interest payable semiannually on May 15 and November 15 until maturity.
for

was

issue

banks

Tenders

for approximately $7,000 allllon of

invited

and raise about $1,964 million new cash.

4

notes of Series P-1985 will be dated November 15, 1982, due November 15. 1985,

EST, November

tenders were

On October 22

364-day Treasury bills to be dated November 4, 1982. and to mature November 3,

Annual average rate
(bank discount basis)

Date of Issue

fron Government accounts and Federal Reserve banks for their own account In

exchange for maturing securities.
A coupon rate of 10-1/2Z was set on the notes of Series C-1992 after the

The

determination as to which tenders were accepted on a yield auction basis.

October

21

28

with Interest payable semiannually on May 15 and November 15 until maturity.

Tenders
EST,

November

for

of

Series

C-1992 were received until

totaled

$7,998

million,

notes

the

and

4,

of

which $4,005

1:30 p.m.,

million was

ranging from 10.46%, price 100.244, up to 10.53X. price
Noncompetitive tenders were accepted In full at the average yield of

accepted at yields
99.817.

accepted

tenders,

10.50X,

price

100.000.

These

totaled

$920

million.

Competitive tenders accepted from private Investors totaled $3,085 million.
In

process,

Federal

addition
$65

to

Reserve

$4,005

the

million
banks

of

as

million

tenders

agents

of

tenders

were

accepted

at

for

foreign

and

accepted
the

In

average

9.229
7.734
7.762
8.472

e.102
7.429
7,437
8.031

7

14

notes of Series C-1992 will be dated November 15, 1982, due November 15, 1992,

the

auction

price

International

from

monetary

authorities and $250 million of tenders were accepted at the average price

Treasury Bills (Other than Cash Hanagement Bills)
Treasury

bills

sold

are

noncompetitive bidding,

on

a

dlacount

—General

basis

under

and at maturity their par amount

is

covpetltlve

and

payable without

In a alnlMim
All aeries are issued entirely In book-entry form
Interest.
on the records either of
amount of $10,000 and In any higher S5.000 miUlple.
Department of the Treasury.
the Federal Reserve banks and branches, or of the

Tenders

are

received

at

Federal

Reserve

banks

ud

branches

and

from

VI

Treasury Bulletin
TREASURY FINANCING OPERATIONS

Each tender must be

individuals at the Bureau of the Public Debt, Washington.
for

minimum

a

of

for

Payment

$3,000.

Tenders

$10,000.
the

full

par

must

$10,000

over
amount

applied

be

multiples

in

tenders submitted for bills to be maintained on the book-entry records of the

Department of the Treasury.

A cash adjustment will be made for Che difference

between the par payment submitted and the actual issue price as determined in
the auction.

trust

No deposit need accompany tenders from Incorporated banks and

companies

securities

and

for bills

from

responsible

to be maintained

on

A deposit of

Reserve banks and branches.

recognized

and

dealers

the book-entry
2

in

guaranty

of

payment

by

an

are

accepted

Incorporated

one

bidder,

the

weighted

must

be made

average

for

each

tssue

price

accepted

of

Payment

for

accepted

tenders

or completed

the date of

on

issue. In cash or other immediately available funds or In a like par amount of

Payment for 13-week, 26-

Treasury securities maturing on or before that date.
week,

and 52-week bills may not

be made by

credit

In

Treasury tax and loan

accounts.

Nonmarketable Foreign Series Securities

bank

or

trust

company

Dollar-denominated
institutions

In

October

dollar-denominated
any

at

foreign

—Foreign

totaled

series

Governments

$1 ,266

securities
million,

Redemptions during the month totaled $1,280 million.

Noncompetitive tenders (without stated price)
from

full

percent of the par amount of the

accompanies the tenders.

less

in

competitive bids for an tssue.

Investment

records of Federal

bills applied for must accompany tenders for such bills from others, unless an

express

bills,

accompany all

must

for

of

of

,

usually for

13-week,

26-week,

$500,000 or
and

52-week

million.

foreign

series

securities

(Details are shown on page 43.)

Issued

consisting
At

official

to
of

14

bills.

the end of October,

outstanding

totaled

$12,229

November 1982
FBDSSAL FISCAL OPERATIONS.
Table FFO-1. -

Sammary

of

Fiscal

Operations

(In millions of dollars)

—net

BudRet and off-budRet results

Means of ftnanclnR

Borrowing from the public

Fiscal year
or month

Budget
surplus
Net
receipts

Net

or

outlays

deficit

Offbudget
surplus

1/

2/

(-)

or

deficit

(1-2)

deficit

(-)

Total
surplus

Public
debt
securities

Agency
securities

— Federal
Investments of
Government accounts 3/

transactions

securities

Cash and monetary asaets (deduct)
U.S.

Total
6+7-8

Treasury
operating
cash

Special
drawing
rights 4/

(-)

CD
1974
1975
1976

(2)

(3)

(4)

C5)

(6)

1981
1982

263.224
279,090
298,060
81,232
355,559
399,561
463,302
517,112
599,272
617,766

267,912
324,245
364,473
94,188
400,506
448,368
490,997
576,675
657,204
728,424

-4,688
-45,154
-66,413
-12,956
-44,948
-48,807
-27,694
-59,563
-57,932
-110,658

-1,447
-8,088
-7,307
-1,785
-8,700
-10,359
-12,467
-14,245
-21,005
-17,331

-6,135
-53,242
-73,719
-14,741
-53,647
-59,166
40,162
-73,808
-78,936
-127,989

1983 (Est.)

646,498

761,516

-115,018

-14,901

-129,919

1981-Sept
Oct
Nov
Dec
1982-Jan
Feb
Mar
Apr
May
June
July
Aug
Sept

r60,279
45,467
44.317
57,407
55,269
43,042
45,291
75,777
36,753
66,353
44,675
44,924
59,694

r53,944
63.573
54,959
76,875
45,930
57,822
63,546
66,073
55,683
59,629
64,506
59,628
61,403

r6,335
-18,105
-10,642
-19,468
9,339
-14,780
-18,255
9,704
-18,930
6,724
-19,831
-14,704
-1,708

-3,099
-644
-1,880
-1,048
-1,230
-213
-518
-993
-2,494
-2,267
-1,131
-2,047
-2,866

3,237
-18,749
-12,522
-20,516
8,109
-14,993
-18,773
8,711
-21,424
4,457
-20,962
-16,751
-4,575

17,661
7,188
8,261
15,426

Fiscal 1982
to date

617,766

728,424

-110,658

-17,331

-127,989

144,181

T.q
1977
1978
1979
1980

16,918
58,953
87,244
14,269
64,139
72,705
54,975
81,182
90,153
144,181

(7)

903
-1,069
10

724
-1,380
-1,417
-1,649
-616
-530
-1,134

(8)

(9)

14,813
7,031
4,341
-3,514
9,243
12,181
19,685
10,051
10,294
8,134

3,009
50,853
82,913
18,507
53,516
59,106
33,641
70,515
79,329
134,912

(10)

-3.380
-1.570
7.246
2.579
1.690
3.340
1.732
-3.186
-2.320
10.494

126,000

9,650
9,828
13,092
4,361
6,089
7,881
9,987
19,616
32.802

-33
-17
-48
-34
-549
-294
-24
-20
-24
-21

-17
-31
-29

-1,134

9,051
-3,204
-2,759
1,118
-682
-1,159
762
1,815
2,877
4,600
-4,379
-1,500
10,644

8,577
10,374
10,972
14,274
9,783
10,693
12,305
2,527
3.187
3.260
14.348
21,086
22,129

12,956
-2,335
-8,539
4,250
12,664
-4,042
-7,666
15,739
-20,794
3,052
-600
-2.379
21.145

134.912

10.494

(11)

245

(12)

Treasury Bulletin
FEDERAL FISCAL OPERATIONS
Table FFO-2. - Budget Receipts by Source
(In millions of dollars)

Social Insurance
taxes and contributions

Income taxes

Fiscal year
or month

Withheld 1/

Other

30,812
34,328
35,528
6,809
42,062
47,804
56,215
63,785
77,209
85,096

1977
1978
1979
1980
1981
1982

263,224
279,090
298,060
81,232
355,559
399,561
463,302
517,112
599,272
617,766

112,092
122,071
123,441
32,950
144,857
165.254
195,331
223,763
256,007
267,513

1983 (Eat.)

646,498

n.a.

1981-Sept
Oct
Nov
Dec
1982-Jan
Feb
Mar

r60,279
45,467
44,317
57,407
55,269
43,042
45,291
75,777
36,753
66,353
44,675
44,924
59,694

21,291
21,817
21,387
24,590
20,810
23,886
23,318
22,705
20,972
21,916
23,773
20,522
21,814

10,155
1,283
846
1,602
12,000
1,608
4,329
35,282
1,183
11,774
2,233
1,529
11,429

617,766

267,513

85,096

1974
1975
1976

T.Q

Apr
May
June
July
Aug
Sept

Fiscal 1982
to date

23,952
34,013
27,367
958
29,293
32,070
33,705
43,479
47,299
54,498

118,952
122,386
131,603
38,801
157,626
180,988
217,841
244,069
285,917
298,111

n.a.

293,792

564
545

30,882
r22,555
21,775
25;770
32,646
21,007

41,744
45,747
46,783
9,809
60,057
65,380
71,448
72,380
73,733
65,991

3,125
5,125
5,374
1,348
5,164
5,428
5,771
7,780
12,596
16,784

1,185
651

41,672
9,576
32,273
23,987
20,867
32,592

10,040
2,934
1,877
11,087
3,212
3,055
8,435
9,032
2,159
11,943
2,445
1,694
8.118

1,669
1,133
867
738
1,763
1,525
1,690
957
1,354
1,844
1,271
1,972

54,498

298,111

65,991

16,784

458
423
163

4,487
14,255
16,315
12,580
1,417

2,019

— Con.

13,391

1,381

Fiscal year
or month

Refunds

38,620
40,621
41,409
8,460
54,892
59,952
65,677
64,600
61,137
49,207

157,571
163,007
172,204
47,175
212,512
240,940
283,518
308,669
347,054
347,318

58,316

352,108

8,659
1,265
745
10,220
2,473
1,293
6,910
7,342
1,202
10,589
422
6,146

39,540
23,820
22,520
35,990
35,119
22,300
20,301
49,014
10,778
42,862
24,588
21,289
38,738

49,207

347,318

601

Old-age, disability, and
hospital Insurance

65,011
74,069
78,784
21,473
90,692
102,577
118,504
136,944
161,030
178,106

535
360
408

400
518
636
507
515
338

Net
employment
taxes and
contributions

64,476
73,709
78,376
21,473
90,292
102,059
117,868
136,437
160,515
177,768
192,694

13,433
14,261
13,161
13,233
13,556
12,554
17,964
19,079
14,612
17,407
13,134
14,338
14,814

— Continued

Unemployment Insurance
Net contributions for other
insurance and retirement

Railroad retirement accounts

Cross

Net
Income
taxes

Refunds

Refunds

Social Insurance taxes and contributions

Employment taxes and contributions

Employment taxes and contributions

Corporation

Individual

Net
budget
receipts

13,433
14,261
13,161
13,233
13,556
12,554
17,964
19,079
14,612
17,069
13,134
14,338
14,814

November 1982
FEDERAL FISCAL OPERATIONS
Table FFO-2. - Budget Receipts by Source-Continued
(In millions of dollars)

Social Insurance
taxes and
contributions

Excise taxes

Con.

Fiscal year
or month

1974
1975
1976

Net
social
Insurance
taxes and
contributions

1977
1978
1979
1980
1981
1982

75,071
84,534
90,769
25,219
106,485
120,967
138,939
157,803
182,720
201,131

1983 (Est.).

215,720

1981-Sept...
Oct....

rl4,202
15,369
15,795
14,641
14,575
15,109
18,752
21,593
20,483
17,572
14,874
17,961
15,608

3,063
2,899
2,728
3,087
2,491
2,354
2,648
2,188
2,230
2,160
2,153
2,245
2,367

201,131

29,550

T.Q

Nov.

. .

Dec...
1982-Jan
Feb....
Mar
Apr.

. .

May....
June. .
July...
Aug....
Sept...

Miscellaneous

Airport and airway trust fund

Refunds

Refunds

9,884
9,550
10,753
2,564
9,796
10,203
9,978
15,709
34,303
29,550

141

150
141

44
148
149

169
146
175
213

9,743
9,400
10,612
2,520
9,648
10,054
9,808
15,563
34,128
29,337

842
964
940
277
1,193
1,328
1,528
1,877
25
67

Highway trust fund

Refunds

840
962
938
277
1,191
1,326
1,526
1.874
21

66

6,384
6,334
5,565

123
146
152

6,260
6,188
5,413

135
137
133
142
152
136

1,676
6,709
6,904
7,189
6,620
6,305
6,442

1,677

6,844
7,042
7,322
6,761
6,457
6,578

32,682
11

12
7

19
8
37
16

-10
15

30
19

31

28

6,781

3,053
2,887
2,721
3,068
2,483
2,318
2,632
2,198
2,215
2,130
2,133
2,214
2,338

521

521

575
588
542
570
544
519
589
580
604
590
576
302

15
103

575
587
542
570
546
505
486
577
589
590
573
302

6,578

136

-3

3

15

Fiscal 1982
to date.

. .

Excise taxes
Fiscal year
or month

— Continued

213

Estate and gift taxes

Customs duties

6,442

Net miscellaneous receipts

Treasury Bulletin
FEDERAL FISCAL OPERATIONS

LJJ

O
CC

o
CO
en 2
:^

DL CO
LU S

<^;
LU S
DCii

LU
CD

Q
QQ

O

November 1982
FEDERAL FISCAL OPERATIONS
Tabla FFO-S. - Bad««t OatUya by A«eAcy
(In

Fiscal year
or month

Legislative
branch

The
Judiciary

minions

of

doUara)

Executive
Office

Funds appropriated
to the
President

of the

President
1974
1975
1976
T.Q
1977
1978
1979
1980
1981
1982

625
726
779
225
976
1,049
1,091
1,218
1,209
1,362

205
284
325
85
392
435
480
564
637
705

75
93
79
16
73
75
80
95
96
95

1983 (Est.).

1,514

840

1981-Sept...
Oct. ...
Nov....

135
97
109
119
128
110
118
110
91
104
145
123
109

42
46
47
63
45
50
99

9
18

48

10

74
62
47
77
46

6
7

1,362

705

Dec. ...

1982-Jan
Feb. ...

Mar....
Apr. . .
May....
June. .
July...
Aug
Sept...

Fiscal 1982
to date. ..

4,015
3,572
3,525

Military

Coaaerce
Departaent

1,221
2,487
3,450
2,631
7,507
7,010
6,073

9,767
9,725
12,796
3,850
16,738
20,368
20,636
24,555
26,030
36,213

1,455
1,583
2,020
534
2,607
5,239
4,072
3,104
2.226
2,045

99

7,017

29.578

1,732

7

451
713
543
862
339
975
481
535
-90
217
281
677

604
3,146
3,072
4,793
4,573
2,984
4,394
2,484
1,362
1,526
2,668
2,184
3.026

185
212
163
162
179
165
165
167
152
145
152
165
217

6,073

36,213

2,045

531

5

11
7
8

8
9
7

Defense Department

Fiscal year
or month

Agriculture Departnent

Energy
Department

Educatl

Treasury Bulletin
FEDERAL FISCAL OPERATIONS
Table FFO-3. - Budget Outlays by Agency-Continued
(In millions of dollars)

Fiscal year
or month

Justice
Department

Labor

November 1982

— FEDERAL
Table FFO-4.

-

FISCAL OPERATIO NS,

Undistributed Offsetting Receipt.
Cin

Federal e mp loyer cont^^h,.^^.„.

Federal old-age,
disability, and
hospital Insurance

,

1983 (Est.).

1981-Sept...
Oct....
Nov.

Jntereat credited to certain C
o.emm^nr

Dec...
1982-Jan
Feb
Mar

May
. .

July
Aug
Sept....

Civil service
retirement and
disability fund

2,702

3,313

!,347

8,363

246
305
255
403
172
229
264
257
259
247
305
253
258

803
65
66
66
104
76
66
82
72
72
104
72
923

1,232
530
481
628
277
640
503
510
503
491
589
505
1,362

3,208

1974
1975
1976

,

Labor
Department

T.Q
1977
1978
1979
1980
1981
1982

650
639
283
55
232
266
503
859
1,063
1,181

1983 (Est.).

1981-Sept...
Oct. ...

30
42

Nov. . .
Dec. ...

529

1982-Jan
Feb
Mar....
Apr. ...
May.
June. . .

July
Aug
Sept....
Fiscal 1982
to date

8
8

-12
43
47
93
365
-15
36

36

1,181

Total

1,170
1,417
1,512
1,566
1,770

181

Unemployment
trust fund

U

3,319
3,980
4,242
985
4,548
4,863
5,271
5,786
6.371
7,020

Fiscal 1982
to date

Fiscal year
or month

Other

1,756
1,918
2,080
592
2,192
2,427
2,511
2,822
3,043
3,208

335
172
172
172
172
180
180

Apr. ...

Defense
Department

911
1,082
1,138
294
1,152
1,266
1,342
1,453
1,762
2,043

182
160
160
159

. .

June.

of dollarc^

1r,„^_^|,

Health and
Human Se rvices

Fiscal year
or month

1974
1975
1976
T.Q
1977
1978
1979
1980
1981
1982

mllHo na

Black lung
disability
trust fund

652
980
1,024
99
1,204

Soldiers* and
Airmen's Home
permanent
fund

4
7

6
1

6
6
8
9

11
15

Health and Huaan Servlcea
Federal old-age
and survivors
insurance
trust fund

5

8

Treasury Bulletin
FEDERAL FISCAL OPERATIONS,
Table FFO-5.

-

Budget Outlays by Function
(In millions of dollars)

Sept.

Nov.

Oct.

Dec.

Jan.

Feb.

Mar,

Apr.

May

June

July

Sept.

Aug.

Cumulatlve to
date _1/

Comparable
period
fiscal
1981

National defense
Outlays
Proprietary receipts from the public
Intrabudgetary transactions

Total
International affairs
Outlays
Proprietary receipts from the public
Intrabudgetary transactions

rl3,855 14,815
-90
166
-5
-2

14,453

rI4,016

1,937

14.285
-188

14,715
-156

30

16,214
46
-3

34

K,7 22

14.205

16,258

-756
-198

1,650
-624
-7

1,498
-753

2.195
-1,362

982

1,019

745

347

830

-*

-*

347

830

Total
General science, space, and technolog y
Outlays
Proprietary receipts from the public

Total

Energy
Outlays
Proprietary receipts from the public

rl 022
,

-6

Total

r 1,01

Natural resources and environment
Outlays
Proprietary receipts from the public
Intrabudgetary cransacclons

Total

1

1

,

309
-32

1,276

398
r318
-23

1,724
-145
-17

-634

1,157
-3

,

,

Agriculture
Outlays
Proprietary receipts from the public...,

Total

Commerce and housing credit
Outlays
Proprietary receipts from the public
Intrabudgetary transactions

Total

Transportation
Outlays
Proprietary receipts from the public
Intrabudgetary t ransactions

Total

Community and regional development
Ou t lays
Proprietary receipts from the public
Intrabudgetary transactions

Total

Footnotes at end of table.

-4
-*

-*

-639

1,154

1,921

-40

1.803
-76

-

-

1,881

1,727

r656
-27

1,081
-74
-17

r652

990

24

-278

16,482
-72

16,749
-15

9

15.204

1,994
-847
-37

I.IU

16,960

23

15,413
-83
-12

93
-71

188.291 160,397
-877
-646
-17
-15

16,419

16.757

15,318

16,983

187,397 159,736

1,594
-1,035

2.110
-1,708

1,702
-1,242

1,561

-

-

-

2,568
-920
-212

22,943

-1,167

-

559

402

460

395

1.435

9.983

16,529
-126
-18

15.115

19

16,557
-87
-35

14,132

14,579

16,436

16,385

1,539
-755
-25

1.643
-1,088

-3

-

2,970
-1,141
-33

830

759

556

1,796

79
10

11,052

November 1982
FEDERAL FISCAL OPERATIONS
Table FFO-5.

Budget Outlays by Function-Continued

-

(In iBllllone of dollars)

^

^^'^
.

""

'""•

Pu„ctlon

""^

FY 1982

.

""•

«"

''"

'""•

^y

*'-

J-'

»u,.

^-'r

S.pt.

Cu-U-

^n:""

tlvt to
data

period

U

fUcal
1901

EducaC Ion, training, employment and
social servi ces
O""^*'^
Proprietary receipts from the public...
Intrabudgetary transactions
,

^""'^
Health

------__

''•'53

2.656

-1

-1

'''51

'"'^

Proprietary receipts from the public...
Intrabudgetary transactions

r-319
-490

To"!

Total

Veterans benefits and services
Outlays
Proprietary receipts frora the public...
Intrabudgetary transactions

2.274

_""

2,248

2,161

2,198

1,953

2,305

1,997

-2

-2

1,995

-

-i

-i

II

\

2,245

2,160

2,198

1,953

2,304

.

1,996

1842
'

1,997

,

1,838

,

1710"

25 446
' it

10 «1
10,551

"

2.408

1.696

25,411

30,51J

414

2

'

'

'

^^^^='^^=^=^^=^^=^=^=^==^^==^^======^=^===^=^=^=^^=^=^^^^===^==

°'"'^>'^

Income security
Outlays
Proprietary receipts from the public...
Intrabudgetary transactions

2.654

2,277
-3

r6,284

7,304 7,207 9,171
-2
-6
3
-1,032 -1,032 -2,743

6,276

6,173

6,421

5,912
-51
-150

7,163
-299
-1,022

8,766
-330
-1,859

7,643
-309
-1,035

7,385
-319
-1,047

8,140
-325
-1,043

7,767
-341
-l,J5l

7,850
-355
-1,139

-310
-1,084

92,204
-3 848

-1 370

-ullSS

-9!5ei

5,711

5.841

6.578

6.298

6.019

6,772

6,275

6,356

6,499

74,018

65,984

7,893

""^"^"^•^^"^~~~

'
'

19,837
-*
-741

19,095

20,902 19,856 34,042

7,426

78,915

21,031

23,119

22,196

20,385

22,628

254,1100

210,745

-*

-1

-

-

_

2

-1

-1

-63

-866

-56

-685

-1,045

-84

-1,813

-10

-*
-39

-•

-54

22,151
_*
-239

20,352

-1

-1,015

-2
-5,990

-4
-5,141

20,847 19.793 33.175

7,371

20,345

22,075

21,912

20,269

20,812

22,385

20,346

21,612

248,807

225,599

814

22,646

2,062
-50

3,064
-50

905
-50

3,270
-52

-46

1,963
-52

2,330
-58

3,294
-57

803
-50

1,046
-49

-1

-2

-1

-6

1

1

1

*

1,986
-52
-6

1,151
-52

-*

II

1,986
-49
-10

24,614
-619
-22

21,550
-607
-7

2.011

3,13

854

3,217

763

1,912

2,274

3,219

753

1,927

3,099

997

1,928

23,973

22,937

395

386
-*

371
-*

352
-*

350
-10

382
-2

483
-5

422

1

-2

364
-1

357
-4

379
-3

428
-*

406
-5

4.681
-12

4,713
-11

397

386

371

352

340

381

479

419

364

353

376

427

401

4,648

4,720

General government
Outlays
rl3,833
-3
Proprietary receipts from the public...
Intrabudgetary transactions
-13.560

538

321
24
-7

396
-5
-7

225

112

487

-48

19,707
-181

-75

689
-46
-II

14,903
-41

-9

436
-34
-9

283
-1

-16

20
-10

-46

-27

556
8
-16

756

-23
-7

-14.497

-14,691

18,626
-199
-11,668

r270

508

339

384

211

550

692

123

433

393

207

630

365

4,833

4,759

179

1,393
-80

28

129

13

1,176

352

204

1,165

__-_---

172

.

-

-

-

-

-

-140
-

10,976
-248
-4,567

11,281
-87

_

6,046
-28
-4,567

-4,573

28

1,451

130

14

1,176

352

204

1,165

38

12

6,161

6,621

Total

Administration of justice
Outlays
Proprietary receipts from the public...

Total

Total

General purpose fiscal assistance
Outlays...
Proprietary receipts from the public...
Intrabudgetary transactions

Total

"outlay s
Proprietary receipts from the public...
Intrabudgetary transactions

Total

Undistributed offsetting receipts .
Net budget outlays

II

18
-

-

_

259
_

179

1,314

259

6,602
-105
-61

6,821
-121
-541

7,527 13,707
-184
-249
-*
-441

7,457
-302
-520

8,039
-206
-199

6,974
-242
-68

7,968
-199
-135

8,329
-552
-57

14,198
-201

7,981
-281
-542

9,055
-144
-40

7.424
-116
-176

106,911
-2.804

-408

-3.310

88,027
-2.151
-3.28*

6,436

6,157

7,278 13,081

6.634

7.634

6.664

7,633

7.720

13.787

7,158

8,871

6,911

100.777

82.590

-2,216

-1,039-1,973-7,710

-1,018

-1,475

-1,680

-1.235

-1.286

-7.989

-1.016

-1.018

-1.785

-29.261

-10.106

r53,944

64,216 56,838 76,875

45,937

57,826

61,549

66.073

55.681

59,629

64.506

59,628

61.401

728.424

657.204

-

-

Source:
Monthly Treasury Statement of Receipts and Outlays of the
United States Government.
Monthly
totals may not add to cumulative due to budget reclassifications,
\J
*
Less than $500,000.
r
Revised.

10

Treasury Bulletin
.FEDERAL FISCAL OPERATIONS
Table FFO-6.

-

Investment Transactions of Government Accounts in Federal Securities (Net)
(In millions of dollars)

Housing and Urban Development Department

Health and Human Services

Fiscal year
or month

Federal
old-age and
survivors
insurance
trust fund

Federal
disability
insurance
trust
fund

Federal
hospital
Insurance
trust fund

Federal
supplementary
medical
Insurance
trust fund

Federal

November 1982

11

FEDERAL FISCAL OPERATIONS
Table FFO-7. - Trust Funda Transactions
October 1, 1981 through September 30. 1982

(In mllllone of dollars)

Receipts In trust funds
Receipts of trust funds

Trust

Classification
(trust funds)

(1)

Federal old-age and survivors
Insurance
Federal disability Insurance
Federal hospital Insurance
Federal supplementary medical
Insurance
Federal employees retirement...
Federal employees life and
health benefits
Federal Deposit Insurance
Corporation
Airport and airway
General revenue sharing
Highway
Black lung
Military assistance advances...
Railroad retirement
Unemployment
Veterans life Insurance
All other trust funds

Total

128, A 22

21,424
37,611
17, 627

31,980
-

608
4,567
7,521
755
11,839
3,035
20,125
1,195
1,470

288,178

Outlayi In

trmt

fundt

12

Treasury Bulletin
FEDERAL OBLIGATIONS

"Obligations" are the basis on which the use of funds is controlled
They are recorded at the point at which the

in the Federal Government.

flm

Government makes a
the

first

the

of

sumption

—which

general,

they

four

commitment to acquire goods or services and are

key events

— order,

delivery,

and

payment,

characterize the acquisition and use of resources.
consist

orders

of

placed,

contracts

services

awarded,

received, and similar transactions requiring the disbursement of money.
The

point

obllgatlonal

in

gauging

stage

the

Government

of

Impact

the

of

transactions

Government's

is

a

strategic

operations

on

personnel

inventory

commitment

purchases

which

stimulates

employment

and

of

business
labor.

investment,

personal

the

services

Federal agencies often do business with one another;

agency

"buying"

the

obligations,

records

records reimbursements.

are used

in

the

In doing so,

"performing"

agency

obligations incurred within the

In Table FO-1,

distinguished

and

outside

Incurred

Government

are

Government.

Table FO-2 shows only those Incurred outside.

from

those

the

the

Obligation data

national economy, since it frequently represents for business firms the

Government

whether

compensation,

current operations or in the construction of capital items.

conIn

All payments for salaries and wages, for example, are reported

purpose.
as

Including

Disbursements may not

for

the

administrative budget

fund accounts were

first published in the September 1967 Treasury Bulletin,

fund

accounts

were

first

published

in

October

the

and the trust
1967

Bulletin.

occur for months after the Government places Its order, but the order

Beginning with the April 1968 Bulletin, the data are on the basis of the

Itself usually causes immediate pressure on the private economy.

budget

Obligations are classified according to a uniform set of categories

concepts

adopted

pursuant

to

the

recommendations

of

the

President's Commission on Budget Concepts.

based upon the nature of the transaction without regard to its ultimate

Table FO-1.

Gross Obligations Incurred Within and Outside the Federal Government

-

by Object Class, June 30, 1982
(In millions of dollars)

Gross obligations Incurred

Object class

Within

Personal services and benefits
Personnel compensation
Personnel benefits
Benefits for former personnel
:

64,961
857
15,442

5,860

64,961
6,717
15,442

3,124
4,252
8.595
962
85.984
63,095

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

63,458
41, 407

718
2,344
3,702
440
22,526
21,688

Acquisition of capital assets
Equipment
Lands and structures
Investments and loans

37,327
6,598
27,662

4,823
2,453
40

42,150

82,627
196,592
85,398
654

11,353
227
22,321

93.980
196.818
107,719

:

2,406
1,908
4,893
522

:

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

9,051
27.702

:

Other
Unvouchered
Undistributed U.S. obligations

654

:

Gross obligations Incurred If

Source:
Reports on Obligations, Standard Form 225, from agencies.
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
received from the agencies prior to reports submitted for budget

_1/

] ,076
1.456

1,077
6,487

2

5,031

738,769

635,242

presentation and therefore may differ somewhat from the Budget
of the U.S. Government.)
Gross obligations incurred (as above)
Deduct:
Advances, reimbursements, other Income, etc
Offsetting receipts

Net obligations incurred

'.

738,769

-120,092
-76,086

540.591

November 1982

13
.FEDERAL OBLIGATIONS,

Table FO-2. - Gross Obligations Incurred

Outside the Federal Government
by Department or Agency, June 30, 1982
(In millions of dollars)

Personal services and benefits

Classification
Personnel
compen-

S3"0"

Personnel
benefits

benefits
for
former
personnel

Contractual services and supplies
Travel and
transportation
of persons

Tranaportatlon of
things

Rent,

co^

Bunicatlons.
and
utllltiea

Prlntlni
and
reproductlon

Other
s.rv-

Supplies
and

Icca

atarlala

Legislative branch _1_/
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

358

10

17

322

33

39

189

18

31

2

39

5

2

30
5

18

Civil

Total

Off-budget Federal agencies _3/:
Synthetic Fuels Corporation fund
Postal Service
Rural Electrification Administration
revolving funds
Total off-budget Federal
agencies

9

I

159

4

18

2

128
39

840
382
86

1,729
215

252

1,866
594

13

78

21

5

21

3

33
12

15,438

Total military

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

2

1

6

1,331

626
130

436
2,561

312
1,275
1,138
448
321

1,927

496

1,529

41

Treasury Bulletin

14

FEDERAL OBLIGATIONS

i

Gross Obligations Incurred Outside tbe Federal Government
by Department or Agency, June 30, 1982-Continued

Table FO-2.

-

(In millions of dollars)

Grants and fixed charges

Classification

November 1982

15

ACCOUNT OF THE
Source and Availability of the Balance
The operating cash of the Treasury Is maintained in Treasury's accounti
with the Federal Reserve banks and branches and In tax and loan accounts.
As
the balances In the accounts at the Federal Reserve banks become depleted, they
are restored by calling In (withdrawing) funds from thousands of financial
country authorized to maintain tax and loan
throughout
the
Institutions
accounts.
Under authority of Public Law 95-147, the Treasury implemented a program on
November 2, 1978, to invest a portion of its operating cash In obligations of
depositaries maintaining tax and loan accounts. Under the Treasury tax and loan
investment program, depositary financial institutions select the manner In which
Depositaries that wish to retain funds
they will participate In the program.
deposited in their tax and loan accounts In Interest-bearing obligations
participate under the Note Option; depositaries that wish to remit the funds to
the Treasury's account at Federal Reserve banks participate under the Remittance
Option.

Table UST-1.

U.S.
in

TREASURY
Account

the

of

the

U.S.

Treasury

Deposits to tax and loan accounts occur In the norval court* of busloass
under a untforo procedure appllcabU to all financial Institutions wharcby
customers of financial Institutions deposit wlch the« tax payacnta and funda for
the purchase of Covernnent securities.
In aost cases the transaction Involves
merely the transfer of funds f ro« a cus tower's account to the tax and loan
account In the sane financial Institution.
On occasions, to the axtant
authorized by the Treasury, financial institutions are pcraUtad to d«poalt In
these accounts proceeds fro« subscriptions to public dtbt securltlsa sntsred for
their own account as well as for the accounta of thalr cuatoacrs.
The tax and loan system permits the Treaaury
financial institutions snd to leave the funds In Note
the financial cooraunltles in which they arise until
needs the funds for Its operations.
In this way
neutralize the effect of Its fluctuation operations
Institution reserves and the economy.

to collect funds throuth
Option depositaries and In
such time ss the Treasury
the Treaaury Is able to
on Note Option financial

Statue of the Account of the U.S. Treaaury
(In millions of dollars)

Treasury operating balance
Available funds In
demand accounts at:

End of
fiscal year
or month

Total

Federal
Reserve
banks
1973
1974
1975
1976

;.

T.Q
1977
1978
1979
1980
1981
1982

4,038
2,919
5.773
11,975
13,299
15,740
16,647
6.489
4.102
3,520
10 .975

1981-Oct

Nov
Dec
1982-Jan
Feb
Mar
Apr
May
June
July
Aug
Sept
Oct

Funds In process
of collection
through

1/

3,550
3.475
4,301
8,285
3,835
2,866
12,239
2,540
4,099
3,275
3.234
10,975
2,309

Treasury tax
and loan note
accounts
8

Other
deposltaries 2/

3/

Federal
Reserve
banks

Other
depositaries 4/

Time deposits
and other
interestbearing
demand
accounts

Other
demand
accounts 5/

Coin,
currency,
and coinage
metal

Miscellaneous

Cold
balance
6/

Balance in
account of
the U.S.
Treasury

Treasury Bulletin

16
.ACCOUNT OF THE
Table UST-2.

-

Elements of Changes

in Federal

U.S.

TREASURY.

Reserve and Tax and Loan Note Account Balances

(In millions of dollars)

Credits and withdrawals
Tax and loan note accounts

Federal Reserve accounts 1/
Fiscal year
or month

Received
directly

1973
1974
1975
1976

T.Q
1977
1978
1979
1980
1981
1982

1981-Oct
Nov
Dec
1982-Jan
Feb
Mar
Apr
Hay
June
July
Aug
Sept
Oct

Proceeds from sales of securities ^/

Credits 2/

725,280
810,481
209,758
875,071
952,116
983,693
1,165,226
1,372,394
1,512,662
105,885
118,667
131,662
108 ,455

109,262
131,454
161,039
116,237
134,894
115,184
131,246
148,589
102,449

Received
through remittance option
tax and loan
depositaries

Withdrawals 3/

Marketable
issues

54,0b8
64,047
80,177
94,732

722,427
804,282
208,434
872,627
951,209
1,047,919
1,231,660
1,453,153
1,599,939

6,782
6,659
8,679
6,765
7,045
8,681
8,499
7,360
9,755
7,877
7,673
8,957
7,608

112,637
125,401
139,515
111,236
120,757
141,104
160,165
133,296
143,090
123,885
138,960
149,805
118,723

9,072
2,897

Nonniarketable
Issues 5/

3,270
3,104
3,366
3,676
910
3,908
3,838
2,666
1,385
941
771
61

63
72
70
61
71
63
61
63
6S
62
59
68

Taxes 6/

171,828

Total
credits

Withdrawals
(transfers to
Federal Reserve
accounts)

November 1982

17
,

ACCOUNT OF THE

Table UST-3.

-

U.S.

TREASURY.

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

Gold assets 1/
End of calendar year or month

1973
1974
1975
1976
1977
1978
1979
1980

273,954,660.5
275,968,413.1
274,705,260.3
274,679,167.8
277,544,111.9
276,420,310.8
264,601,798.2
264,318,385.8
264,108,840.8

1981

1981-Oct..
Nov.

Dec.
1982-Jan..
Feb..
Mar..
Apr.
May..
June.
July.
Aug..
Sept.
Oct..

264,119,
264,115,
264,108,
264,108,
264,082,
264,075,
264,066,
254,062,
264,053,
264,047
264,036,
264,029
264,029

IFS-1.

2/

113.7
348.7
840.8
840.8
384
579
869
534
348
895
787.4
989.3
811.6

Daily Treasury Statement through June 1974, Bureau of Government
Financial Operations thereafter.
Treasury gold stock which excludes gold held by the Exchange Stabilization Fund.
See "International Financial Statistics," Table

Source:
_1_/

Cold liabilities 2/

_2/

1,567
1,652
1,599
1,598
1,719
1,671
1,172
1,160
1.151

10,460
11,652
11,599
11,598
11,719
11,671
11,112
11,160
11,151

1,152
1,152
1,151
1,151
1,150
1,150
1,149
1,149
1,149
1,149
1,148
1,148
1,148

11,152
11,152
11,151
11,151

Balance of gold in
U.S. Treasury account

11, ISO
n. 150

11,149
11,149
11,149
11,149
11,148
11,148
11,148

Gold assets were valued at S38 per fine troy ounce until October
18, 1973, when they were revalued at $42.22 pursuant to the asendlng
of section 2 of the Par Value Modification Act, Public Law 93-110,
approved September 21, 1973, The IncreiBent amounted to SI, 157 illlon.

Treasury Bulletin

18

MONETARY
Table MS-1.

-

STATISTICS,

Currency and Coin

in

Circulation

(In millions of dollars except per capita figures)

Currencies no longer issued
End of
fiscal year
or month

Federal
Reserve
bank
notes

National

Currencies presently
being issued

November 1982

19
.FEDERAL DEBT,
Table FD-1.

Summary

-

of Federal Debt

(In mtlllonfi of dullmi.)

Amount outstandlne
End of
fiscal year
or month

1974
1975
1976

T.Q
1977
1978
1979
1980
1981
1982

Securltlei held by:
Government accounts

Public
debt
securities

Agency
securi-

Public
debt
securities

ties

The public 1/

Agency
securities

Public
debt
securi-

Agency
securities

ties

486,247
544,131
631,866
646,379
709,138
780,425
833,751
914,317
1,003,941
146,987

474,235
533,188
620,432
634,701
698,840
771,544
826,519
907,701
997,855
,142,035

12,012
10,943
11,433
11,678
10,298
8,881
7,232
6.616
6,086
4,952

140,194
147,225
151,566
148.052
157,295
169,477
189,162
199,212
209,507
217,640

138,206
145,283
149,611
146,105
155,490
167,973
187,683
197,743
208,056
216,404

1,988
1,942
1,955
1,947
1,805
1,504
1,478
1,469
1,450
1,236

346,053
396,906
480,300
498,327
551,843
610,948
644,589
715,105
794,434
929,346

336,029
387.905
470,821
488,327
543,350
603,571
638,836
709,958
789,799
925.631

10,024
9,001
9,478

,003 ,941

997,855
1,005,042
1,013,303
1,028,729
1,038,379
1,048,207
1,061,299
1,065,660
1,071,748
1,079,630
1,089,617
1,109,233
1,142,035

5,086
6,069
6,021
5,987
5,438
5,118
5,094
5,074
5,050
5,029

209,507
206,303
203,544
204,661
203,980
202,821
203,583
205,398
208,275
212,875
208,496
206,996
217,640

208,056
204,853
202,103
203,220
202,541
201,395
202,411
204,227
207,114
211,714
207,336
205,839
216,404

1,450
1,449

794,434
804,808
815,780
830,055
839,837
850,504
862,809
865.336
868,523
871,783
886,131
907,218
929,346

789,799
800,189
811,200
825.509
835,838
846,812
858,888
861,433
864,634
857,916
882,281
903,394
925,631

4,636
4,520
4,580
4,545
3,999
692

1981-Sept.
Oct..
Nov.

,011 ,111

,019 ,324
,034 ,716
,043 ,817
,053 ,325
,066 ,393
,070 ,734
,076 ,798
,084 ,658
,094 ,628
,114 ,214
,146 ,987

Dec.
1982-Jan.
Feb..
Mar..
Apr.
May..
June.
July.
Aug..
Sept.

5,011
4,981
4,952

1,441
1,441
1,439
1,426
1.173
1.171
1,162
1,161

1,160
1,157
1,236

9,730
8,493
7,377
5,75*
5.147
4,536
3,715

921

903
888
858
851
824

3,715

Monthly Treasury Statement of Receipts and Outlays of the
United States Government.
Includes holdings of Federal Reserve banks.

Source;
_1_/

Table FD-2. - Computed Interest Charge and

CoBRSUd

Interest

RaU

on Interest-Bearing Public Dabt

(Dollar amounts In millions)

End of
fiscal year
or month

Total
interestbearing
public
debt
1/

Computed annual Interest rate

Computed
annual
interest
charge
2/

1974
1975
1976

T.O
1977
1978
1979
1980
1981
1982

1981-Oct
Nov
Dec
1982-Jan
Feb
Mar
Apr
May

June
July
Aug
Sept
Oct

Total
interestbearing
public
debt 1/

$473,238
532,122
619,254
633,560
697,629
766,971
819,007
906,402
996,495
1,140,883

$30,741
33,509
39,494
40,683
44,481
53,885
54,946
80,437
111,881
127,221

6.560
6.352
6.436
6.478
6.424
7.126
8.057
9.032
1.486
1.411

999,451
1,011,936
1,027,300
1,032,678
1,042,198
1,059,815
1,064,538
1,066,410
1,078,431
1,083,296
1,108,131
1,140,883
1,136,826

112,714
113,373
107,756
114,548
116,847
119,673
120,709
121,325
125,662
123,735
125,383
127,221
124,530

1.543
1.463
0.726
1.345
1.468
1.548
1.594
1.633
1.908
1.689
1.562
1.411
1.177

Source:
Bureau of Government Financial Operations.
Note:
The computed annual Interest charge represents the amount of
Interest that would be paid if each Interest-bearing Issue
outstanding at the end of each month or year should remain
outstanding for a year at the applicable annual rate of Interest.
The aggregate charge for all Interest-bearing Issues constitutes
The average annual rate
the total computed annual interest charge.
is computed by dividing the computed annual Interest charge for the

total or for any group of Issues by the corresponding principal
amount.
The computation Is based on the rate of effective yield for

Wonaarke table

Marketable Issues
Treasury
bills 3/

Treasury
notes

9.608
12.435
12.082

8.416
5.253
5.819
5.784
5.656
7.658
10.110
10.435
15.781
12.089

6.529
7.058
7.352
7.355
7.066
7.397
8.130
9.443
11.369
12.583

12.500
12.401
11.354
12.186
12.318
12.376
12.431
12.487
12.878
12.541
12.352
12.082
11.811

15.827
15.093
14.239
14.031
14.113
14.077
14.158
14.037
13.948
12.555
12.974
12.089
11.247

11.392
11.505
10.081
11.734
11.868
11.994
12.050
12.224
12.357
12.457
12.557
12.583
12.587

7.030
6.533
6.559
6.591
6.481
7.388
8.592

1/

2/

3/

~

~4/

Treasury
bonds

.755
.339
.654
.811

.120
.587
.153
8.445
9.3ai
9.939

9.440
9.552
9.550
.646
.859
.863
.859
.875
81

85
.889

9.939
9.994

Other 4/

Governaent
account
series

5.375
5.387
3.452
5.487
5.603
5.725
5.968
5.221
7.359
7.543

5.430
6.514
6.789
6.871
5.921
7.491
8.167
9.081
10.655

7.391
7.406
7.403
7.399
7.395
7.512
7.S36
7.523
7.505
1.525
7.500
7.543
7.431

10.554
10.495
10.358
10.525
10.622
10.737
10.749
10.752
10.729
10.741
10.660
10.701
10.639

10.701

Issues sold at premium or discount.
Includes Federal Financing Bank.
Encludes Federal Financing Bank.
discount value Is
Included In debt outstanding at face amount, but
Interrit rate.
used in computing annual Interest charge and annual
rate for all
On U.S. savings bonds, the rate is an average Interest
amounts outstanding.

20

Treasury Bulletin
.FEDERAL DEBT.
Table FD-3.

-

Interest-Bearing Public Debt

(In millions of dollars)

November 1982

21
.FEDERAL DEBT.
Table FD-4.

-

Government Account Series

(In millions of dollars)

End of
fiscal year
or month

1974
1975
1976

Airport and
airway
trust fund

1981
1982

115,442
124,173
130,557
128.620
140,113
153,271
176,360
189,848
201,052
210,462

878
1,936
2,529
2,712
3,246
3,687
4,377
5,423
4,712
3,868

1981-Oct
Nov
Dec
1982-Jan
Feb
Mar
Apr
May
June
July
Aug
Sept
Oct

198,053
195,541
196,665
196.393
195,722
196,707
198,538
201,290
205,954
201,502
199,896
210,462
205,717

4,561
4,502
4,689
4,571
4,509
4,462
4,420
4,374
4,475
4,323
4,006
3,868
3,771

T.Q
1977
1978
1979
1980

Exchange
Stabilization
Fund

2,364

Federal
Deposit
Insurance
Corporation

436
1,367

Federal
employees
retirement

Federal
disability
insurance

funds

trust fund

2,050
1,763
4,266
3,544
3,130
3,011

2,696
3,429
4,829
5,435
7,835
9,379
11,232
13,249

31,201
35,525
40,383
39,607
46,631
53,398
61,369
71,055
81,768
94,205

3,941
4,053
5,286
7,377
3,095
6,456

3,169
1,798
1,925
1,985
2,003
2,067
2,088
1,914
1,921
2,396
2.416
3,011
2,377

11,240
11,781
11,686
11,866
12,430
12,753
12,653
12,839
12,860
12,738
13,211
13,249
13,042

80,912
80,004
82,603
81,911
81,139
80,362
79,488
78,528
81,464
80,492
79,641
94,205
93,191

2,964
2,784
2,290
2,970
3,127
3,622
4,510
4,887
5,633
5,732
6,008
6,456
6,643

1,451
1,512
1,529

7,880
7.843
6.616
6,138

Federal
Energy

Administration

Federal Hoae
Loan Bank

Federal
hospital
insurance
trust fund

7,814

Federal
old-age and
survivors
Insurance
trust fund

22

Treasury Bulletin
FEDERAL DEBT.
Table FD-5.

-

Interest-Bearing Securities Issued by
(In millions of dollars)

End of
fiscal year
or month

Government Agencies

November 1982

23

i^ FEDERAL
TabU FD-6.

DEBT.

- Participation CartifieaiM

(In mllllone of dollars - face amounts)

Export-Import Bank
of the United States

Participation certif icates issued by CNMA acting «»
truttee

End of
fiscal year
or month

Education
Department 1/

Retirements

1974
1975
1976

327

T.Q
1977
1978
1979
1980
1981
1982
1981 -Sept.
Oct. .
Nov.
Dec. .

Outstanding

250
250
250
250
250
250
250
250
250

Outstanding

110
110
80
35
377
602
162
162
127
550

250
250
250
250
250

1982-Jan.
Feb..
Mar..
Apr.
Hay..
June.
July.
Aug..
Sept.

Retirements

Retirements

4,370
4,260
4,180
4,145
3,768
3,166
3,004
2,842
2,715
2,165

10
10

70

2,715
2,715
2,715
2,715
2,165
2,165
2,165
2,165
2,165
2,155
2,165
2,165
2,165

550

Health and
Human Services
Department 3/

Farmers Home
Administration 2/

Outstanding

Retirements

650
650
650
650
640
630
630
630
630
560

Outstanding

Retirements

Outstanding

492
492
492
492
41

133

451
318

59

318
318
318
259

630
630
630
630
560
560
560
560
560

IS
15
15
15
15
10
10
10
10
10

318
318
318
318
259
259
259

10
10
10
10
10
10
10
10
10
10
10
10
10

259
259
259
259
259
259

560
560
560
560

—Continued

Participation certificates Issued by GNMA acting as trustee

Housing and Urban Development Department
End of
fiscal year
or month

Office of the Secretary 4/

Retirements

1974
1975
1976
T.Q
1977
1978
1979
1980
1981
1982

5

14

Outstanding

240
240
240
240
235
221
221
221
221
175

1981-Sept.
Oct.
Nov..
Dec.
1982-Jan..
Feb..
Mar..
Apr. .
May..
June.
July.

Aug..
Sept.

Government National
Mortgage Association 5/
Retirements

65
70
41
19

165
174
68
43
47
219

221
221
221
221

175
175
175
175
175
175
175
175
175

219

Source:
Bureau of Government Financial Operations.
Includes college housing, and construction of higher education
facilities.
Includes the agricultural credit Insurance fund and the rural
housing loan programs.
fund.
3/
Includes health professions education fund and nurse training

Outstanding

1,273
1,204
1,164
1,145
980
806
738
695
648
429

648
648
648
648
429
429
429
429
429
429
429
429
429

4/

U

1/
~

U

b/
7/

Small Business
Administration 6/

Retirements

102
32

155

Outstanding

444
444
444
444
342
311
311
311
311
156

Veterans
Administration 7/
Retire
ments

Outstanding

4S
41

40
16
54
234
94
119

80

311
311
311
311

155

156
156
156
156
156
156
156
156
156

facility prograM
Includes housing for the elderly and public
and liquidating
Includes special assistance, and management
programs.
,
,
buslne.. loans and
Includes programs for disaster loans, and
investments.
programs.
Includes direct loan and loan guaranty

1,255
1,214
1,175
1,159
1,105
871
777
657
578
578
578
578
S78
578
S78
578
S78
S78
578
578
S7S
578
578

24

Treasury Bulletin
.FEDERAL DEBT.
Table FD-7.

-

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

Held by Private Investors
(In millions of dollars)

Maturity classes
End of
fiscal year
or month

Amount
outstanding
privately
held

Within
1 year

1973
1974
1975
1976

167,869
164,862
210,382
279,782

T.Q

294 ,595

1977
1978
1979
1980

326,674
356 501

463,717

1981
1982

682,043

84,041
87,150
115,677
151,723
153,203
161,329
163,819
181,883
220,084
256,187
314,436

1981-Sept
Oct
Nov
Dec
1982-Jan
Feb
Mar
Apr
May
June
July
Aug
Sept

549,863
558,169
569,534
580,670
590,139
604,671
619,030
613,576
618,699
628,997
634,556
660,583
682,043

256,187
263,717
266,163
275,322
284,171
290,697
295,476
289,000
290,476
293,266
295,118
309,446
314,436

,

380, 530
549 ,863

1-5

5-10

10 - 20

years

years

years

20 years
and over

54,139
50,103
65,852
89,151
94,845
113,319
132,993
127,574
156,244
182,237
221,783

16,385
14,197
15,385
24,169
31,247
33,067
33.500
32,279
38,809
48,743
75,749

8,741
9,930
8,857
8,087
7,939
8,428
11,383
18,489
25,901
32,569
33,017

4,364
3,481
4,611
6,652
7,262
10,531
14,805
20,304
22,679
30,127
37,058

182,237
177,834
189,570
188,422
183,843
194,457
200,544
199,278
203,612
207,106
206,380
217,258
221,783

48,743
52,201
47,615
50,851
54,370
49,120
52,612
55,329
54,361
58,425
63,022
66,347
75,749

32,569
32,536
34,164
34,055
34,069
35,819
35,822
35,565
35,701
35,651
35,583
33,097
33,017

30,127
31,881
32,022
32,020
33,686
34,578
34,576
34,404
34,549
34,549
34,453
34,435
37,058

Office of Government Finance and Market Analysis in the Office
of the Secretary.

Source:
\J

FD-8.

-

3

yrs.
yrs.
yrs.
yrs.
yrs.
yrs.
yrs.
yrs.
yrs.
yrs.
yrs.

4

yrs.

3
2

2
2
2
2
3
3
3

4

1

mos.
mos.
9 mos.
11 mos.
3 mos.
7 mos.
9 mos.
mos.
11 mos.
8
7

4 yrs.
4 yrs.
4 yrs.
4

yrs.

4 yrs.
4 yrs.
4 yrs.
4

yrs.

4 yrs,
4
3
3

yrs.
yrs.
yrs.

mo.

11 mos.

11
11

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

of the Interest-bearing marketable public debt Is computed on that
part of the outstanding public debt privately held.

Beginning with the September 1976 Treasury Bulletin the average length

Table

Average length 1/

Debt Subject to Statutory Limitation
(In mllltons of dollars)

November 1982

25
FSDERAL DEBT,

Table PD-».
Second

The

Liberty

Bond

Act

Status and Applicatloa of Statutory Limitation

-

U.S.C.
757b),
as
amended, provides that the face amount of obligations Issued
under authority of
that
act,
and
the
face
amount
of

that

obligations guaranteed as

National

United

States,

shall

billion outstanding at
1982
1,

and

ending

on

exceed

In

and
the

interest

by

aggregate

the

S^OO

any

(Public Law 97-270)

1982,

principal

to

not

(31

time.
The act of September 30,
provides that beginning on October
September 30, 1983, the statutory

The act

of

the

face

participations

June
Issued

Mortgage

30,

1967

aaount

under

(Public

Law 90-39) provide*
beneficial
Interasta
aod
section 302(c) of the rederat

of

Association

Charter
Act
(12
U.S.C.
1717(c)) during the fiscal year 1968 and outatandtng at any
time shall be added to the aaount othervlse taken into
account In determining whether the rei)u Ireaent • of the above

provisions are met.

debt limit shall be temporarily increased by $890.2 billion.

Part A.

-

Status

Under Limitation, October

31,

1982

Cin millions of dollars)

Public debt subject to limit:
Public debt outstanding
Less amounts not subject to limit:
Treasury
Federal Financing Bank
Total public debt subject to limit
Other debt subject to limit:
Guaranteed debt of Government agencies
Specified participation certificates
Total other debt subject to limit
Total debt subject to limit

Statutory debt limit
Balance of statutory debt limit

1,

Treasury Bulletin

26
.FEDERAL DEBT.
Table FD-10.

-

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

Agriculture Department
Agency
End of
fiscal year
or month

November 1982
PUBLIC DEBT OPERATIONS
Table PpO-1^ - Maturity Schedule of Intere.t-Be.riag
Marketable Public Debt
i^eoi Secaritiea
».cur.t„
Other than Regular Weekly and 52-Week
Tr.uanry Bill. Ouftanding, October 31 1982
(In »UlltKi. e(

.

'

doU.r.l

mount of maturltlea

Amount of maturities

Held by 1/
Date
of final
maturity

1982
Nov.
Nov.
Nov.
Dec.
Dec.

30..
31..
31..

7-7/81-C
7-1/8J-F
13-7/8:-Y
1S-1/8Z-Z
9-3/8t-L

Note
Note
Note
Note
Note

11/17/75
10/17/77
12/01/80
12/31/80
1/02/79

Total
1983
Jan.
Feb.
Feb.
Mar.
Mar.
Apr.
Apr.
May

31.
15.,

28.
31.,
31.,
1..

30.,
IS..

May
15..
May
31..
Junel5,78June 30..
June 30..
July 31..
Aug.
15..
Aug.
15..
Aug.
31..
Sept.
Sept.
Oct.
Oct.
Nov.
Nov.
Nov.
Dec.
Dec.

13-5/81-M
8!-A
13-7/8I-N
9-1/4J-D
12-5/8I-P
1-1/2J-EA
14-1/2-Q
7-7/8Z-C
11-5/8J-C
15-5/8t-R
3-1/4J
e-7/8I-E
14-5/8Z-S
15-7/8Z-T
11-7/8I-J
9-1/4I-K
16-1/4Z-U
9-3/4Z-K
16Z-V
l-:/2Z-E0
1S-1/2Z-W
7Z-B
9-7/8Z-L
12-1/8Z-X
10-1/2Z-B
13J-Y

Hay
May
May
June
June
July

31.,

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

15.
15.
31.,

30.
15.,

15.
31.,

15Z-N
7-1/4Z-A
15-1/8Z-P
14-1/4Z-D
14-1/8Z-0
1-1/2Z-EA
13-7/8Z-R
9-1/4Z-C
13-1/4Z-G
15-3/4Z-K
13-3/4Z-S
8-7/8Z-E
14-3/8Z-T
13-1/8Z-U
6-3/8Z
7-1/4J-B
13-1/4Z-J
11-5/8Z-V
12-1/8Z-F
16Z-L
14-3/8Z-H
14Z-H

2.902
2,737
4,966
4,955
3,205

770
239
422
483
459

18,765

Note
Note
Note
Note
Note
Note
Note
Note
Note
Note
Bond
Note
Note
Note
Note
Note
Note
Note
Note
Note
Note
Note
Note
Note
Note
Note

2/02/81
2/17/76
3/02/81
3/05/79
3/31/81

4/01/78
4/30/81
4/5/78
11/15/79
6/01/81
5/01/53
7/02/79
6/30/81
7/31/81
2/15/80
5/15/80
8/31/81
10/10/79
9/30/81
10/1/78
11/02/81
11/15/76
8/15/80
11/30/81
12/31/79
12/31/81

Total
1994
Jan.
Feb.
Feb.
Mar.
Mar.
Apr.
Apr.
Hay

U.S. Govt.
accounts and
Federal Reserve banks

Issue
date

Note
Note
Note
Note
Note
Note
Note
Note
Note
Note
Note
Note
Note
Note
Bond
Note
Note
Note
Note
Note
Note
Note

2/01/82
2/15/77
3/01/82
3/31/80
3/31/82
4/01/79
4/30/82
9/05/79
11/17/80
5/15/81
6/01/82
6/30/80
6/30/82
8/02/82
8/15/72
8/15/77
2/17/81
8/31/82
9/30/80
8/17/81
11/16/81
12/31/80

Total

other
Investors

2,132
2.498
4,544
4.472
2,746

544
,154

4,586
2,573
3.618
4,763

338
113
860
525
87
426
490
382
1,081
3,214
643

499
12

284

449

1

1

5,470
2,309
5.832
5,493
2,701
5,427

2,025
694
625

4,847
2,208
3,807
4,799
2,430
4,802

108,020

17,328

90,692

6,208
8,438
5,950
2,914
6,219

546

3,913
636
533
600

5,662
4,525
5,314

623
101

271

2,381
5,619
*

*

5,877
2,587
4,315
3,776
6,018
3,726
6,232
7.177
2,171
2,863
4,662
7,492
11,012
5,780
6,213
3.620

799
69
510
771
421
510
776
1.107
355
384
860
570
889
1,188
1,087
309

5,078
2,518
3,805
3,005
5,597
3,216
5,456
6,070
1,816
2,479
3,802
6,922
10,123
4.592
5.126

113,250

16.833

96,417

4,203
5,888
2,719
3,786
2,539
473
6,952
734
3,393
4,837
3,293
7,487

1,448
330
264
378
40
47
1,615

3.311

Feb.
Feb.

Mar.

Hay
May

Hay
May
June

15..
15..
15..
31..
15..
15..
15..
15.75-1
30.

Aug.
15..
Aug.
15..
Aug.
15..
Sept. 30..
Nov.
15..

8Z-A
14-5/8Z-L
14-3/8Z-D
13-3/8Z-C
10-3/8Z-C
3-1/4Z
14-1/8Z-M
4-1/4Z
14Z-n
8-1/4Z-B
9-5/8Z-E
13-1/8Z-N
15-7/8Z-J
11-3/4Z-F
14-1/8Z-IC

Note
Note
Note
Note
Note
Bond
Note
Bond
Note
Note
Note
Note
Note
Note
Note

2/15/78
2/16/82
3/03/80
3/31/81
12/04/79
6/03/58
5/17/82
4/05/60
6/30/81
8/15/78
6/05/80
8/16/82
9/30/81
9/03/80
12/31/81

Total
1986
Feb.
Har.

13-1/2Z-C
14Z-G
13-3/4Z-D
7-7/8Z-A
14-7/8Z-H
8Z-8
12-1/4Z-J
16-1/8Z-F
6-1/8Z
13-7/8Z-E

Hay
Hay
June
Aug.
Sept.
Nov.
Nov.
Nov.

Note
Note
Note
Note
Note
Note
Note
Note
Bond
Note

12/08/80
3/31/82
3/4/81
5/17/76
7/06/82
8/16/76
9/30/82
9/8/81
11/15/71
6/03/81

Total
1987
Feb.
Feb.

9Z-B
12-3/41-0
12t-C
14Z-E
13-3/4Z-F
7-5/8t-A
12-5/8Z-C

May
May
Aug.
Nov.
Nov.

Note
Note
Note
Note
Note
Note
Note

2/15/79
12/2/81
2/15/80
3/03/82
6/02/82

U/15/77
9/07/82

Total
1988
Jan.
Apr.

May

5.

15.
15.

12-3/8Z-C
13-1/4Z-D
8-1/4Z-A

Note
Note
Note

1/05/81

</06/81
5/15/78

3,087
3.430

171

2.755
5.558
2,455
3,408
2,499
426
5,337
578
3,143
3,213
3,209
6,087
3,613
3,082
3,259

56,782

8,160

48,622

3,188
4,215
3,460
5,219
4,758
9,515
5.813
3,469

17

3.171
3,927
3,439
4,061

3,961

156
250
1,624
84
1,400
348
5

2as
21

1,158
323
1,987
100
176
310
22

4,435
7,528
5,713
3,293
886
3,184

44,039

4,402

39,637

6,238
3,437
2,472
3.519
4,078
2,387
5.384

1,659

4,579
3,437
1,974
3,519
4,078

27,515

2,773

24,742

2,710
2,972
4,148

116

2,706
2,856
2,394

1,196
3,206

n.a.

498
n.a.
o.a.
616
n.a.

1,75*

1.771
5.384

Source:
Monthly Statement of the Public Debt of the United States, and
Office of Government Financing In the Office of the Secretary.
Beginning
with February 1969 Treasury Bulletin, the definition of
±/

Issue
date

15.

14Z-E

15.
15.

15-3/8Z-P
8-3/4Z-B
Total

14-5/8Z-C
14-3/8t-D
9-1/4I-A
l4-l/2Z-t
11-7/eZ-P
10-3/4I-8
Total
3-1 /2Z

4,248
2,460
2,758
4,238
900

1985

May

July
Oct.
Nov.

4,647
5,804
4,939
2,918
4,695

2,697
4,117
4,592
3,204
3,456
4,788
2,518
4,819

mid

Date
of final
maturity

16,392

5,191
7,958
5,438
2.930
5,583

987
3,123
4,607
4,974
4,285
6,670
5,431
2,802
5,268

All

8-1/4Z
10-3/4Z-A
13Z-B
Total
14-1/2Z-A
14-7/8Z-B
14-1/4Z-C

Total
1992
Feb.

15....
May
15....
Aug. 15.87-92
Aug.
15

14-5/8Z-A
13-3/4Z-B
4-1 /4Z

7-1/4Z

Total
1993
Feb. 15, 88-93
Feb.
15....
Feb.
15
Aug. 15. 88-93
15
Aug.
Nov.
15....

41
6-3/4Z
7-7/81
7-1/2Z
8-5/8Z
8-5/8Z
Total...

1994
Feb.

15

May 15.89-94
Aug.
Nov.

15
15

9Z

4-1/8Z
8-3/4Z
10-1 /8Z

Total.
Feb.

U.S. Govt.
accounts and
Federal Raserve banks

by 1/

All
othar
Investors

28

Treasury Bulletin
.PUBLIC DEBT OPERATIONS.
Table PDO-2. - Offerings of Bills
(Amounts In millions of dollars)

Description of new Issue

Issue date

Maturity
date

Number of
days to
maturity J_/

Amount of
bids
tendered

November 1982

29
-•PUBLIC DEBT OPBBATIOM4,
T»ble.PD0-2. - Off.rin«. of

Bills -

On total bids accepted

Issue
date

Average price
per hundred

On competitive blda accepted

Equivalent average
rate 4/

High

Price per hundred

Regular weekly:
1982-July

1.

8.
15.

22.
29.

Aug.

5.

12.
19.

26.

Sept.

2.
9.

16.

23.
30.

Oct.

7.

14.

21.
28.

96.646
93.216
96.763
93.440
97.018
93.950
97.184
94.216
97.331
94.248

13.269
13.419
12.806
12.976
11.796
11.967
11.140
11.441
10.559
11.378

97.565
94.605
97.438
94.469
97.822
95.035
98.020
95.456

9.632
10.6'1
10.025
10.940
8.616
9.821
7.749
8.988

97.825
95.073
97.835
95.144
97.937
95.094
98.016
95.226
98.028
95.351

8.604
9.746
8.565
9.605
8.161
r9.704
7.849
9.443
7.801
9.196

97.952
95.334
98.122
96.809
98.120
96.076
97.970
95.717

8.101
9.230
7.429
7.734
7.436
7.761
8.030
8.472

85.258
86.695
98.377
87.360

14.580
13.159
10.506
12.501

86.711
86.674
87.352
87.128
87.671
87.692
87.545
88.681
89.600
90.373

13.143
13.179
12.509
12.730
12.193
12.173
12.318
11.195
10.286
9.521

C.«ti.M«l

96.661

Equivalent rate

V

Price per hundred

Equivalent rate */

13.209
13.350
12.750
12.940
11.749
11.904
11.022
11.358
10.400
11.300

96.634
93.205
96.753
93.439
97.007
93.941
97.169
94.171
97.309
94.219

13.316
13.441
12.845
12.978
11.840
11.985
1 1 . 200
11.530
10.646
11.435

8.296
9.680
7.587
8.852

97.548
94.586
97.422
94.449
97.775
94.995
97.996
95.428

9.700
10.709
10.088
10.980
8.802
9.900
7.842
9.0*4

97.839
95.106
97.864
95.187
97.943
95.107
98.117
95.269
98.054
95.364

8.549
9.680
8.450
9.520
8.138
9.678
7.449
9.358
7.698
9.170

97.808
95.057
97.831
95.126
97.936
95.086
97.979
95.199
98.016
95.339

8.672
9.777
8.581
9.641
8.165
9.720
7.995
9.496
7.849
9.220

97.973
95.353
98.155
96.119
98.142
96.085
97.995
26/ 95.723

8.019
9.192
7.299
7.677
7.350
7.744
7.932
8.460

97.934
95.319
98.106
96.067
98.115
96.072
97.956
95.714

8.173
9.259
7.493
7.780
7.457
7.770
8.086
8.478

85.298
86.771
89.439
87.462

14.540
13.084
10.455
12.400

85.222
86.653
89.337
87.311

I4.6!6
13.200
10.546
12.550

86.841

13.014
13.130
12.470
12.692
12.166
12.130
12.280
11.117
10.240
9.431

86.663
86.648
87.328
87.104
87.6SS
87.6»S
87.513
88.653
89.578
90.326

13.190
13.205
12.533
12.754
12.209
12.199
12.350
11.222
10.307
9.568

5/ 93.251

6/ 96.777

V

93.458
97.030
93.982
97.214
94.258
97.371
94.287
97.592

9.526

8/ 94.645

10.592

97.478
±/ 94.499
97.903
95.106
20/ 98.061
95.525

9.869

lU
J2/
12/

U./

15/

10.881

52 weeks:

1981-Oct.
Nov.
Dec.

8.
5.

3.

31.

1982-Jan.
Feb.
Mar.
Apr.

May
June
July
Aug.
Sept.
Oct.

28.
25.
25.
22.
20.
1

7

15.
12.
9.
7.

Source:
Monthly Statement of the Public Debt of the United States
and allotments.
The 13-week bills represent additional Issue of bills with an
2/
original maturity of 26 weeks.
2/
For bills issued on or after May 2, 1974, includes amounts
exchanged on a noncompetitive basis by Government accounts and
Federal Reserve banks.
For 13-week bills 26-week tenders for $500,000 or less from any
2/
one bidder are accepted in full at average price or accepted
competitive bids; for other issues, the corresponding amount is
stipulated in each offering announcement.
Bank discount basis.
_4/
Except $20,000 at 93.284.
_5/
Except $150,000 at 96.790.
6/
Except $3,000,000 at 93.918.
8/
Except $300,000 at 94.666.
Except $470,000 at 94.514.
^/
Except $250,000 at 98.086 and $500,000 at 98.070.
20/
Except $100,000 at 97.892.
22/
Except $560,000 at 98.016, $700,000 at 98.014 and $100,000 at

V

W

W

28/ 86.724
29/ 87.391
20/ 87.187

87.699
87.735
87.584
88.759
89.646
90.464

n/
14/

25/
26/
27/
18/
19 /

20 /
r

97.887.
Except $100,000 at 97.973.
Except $65,000 at 98.073.
Except $200,000 at 95.374.
Except $500,000 at 95.741 and $1,360,000 at 95.740
Except $800,000 at 86.920.
Except $1,500,000 at 86.820 and $720,000 at 86.754.
Except $995,000 at 87.495 and $2,200,000 at 87.432.
Except $620,000 at 87.207.
Revised.

30

Treasury Bulletin
PUBLIC DEBT OPERATIONS
Table PDO-3. -

New Money Financing through Regular Weekly Treasury

Bills

1/

(Dollar amounts in millions)

Description of Issue
Issue
date

Maturity
date

Number of
days to
maturity

Amount
of bids
tendered

Amount
of bids
accepted

Average rate

November 1982

31
i. PUBLIC DBBT OPBBATIONI

Table PDO-3. -

New Money Financing through Eeg«lar Weekly Treasury

Billi

y

-

Continued

(Dollar amountB In mllllona)

Description of Issue
Issue
date

1982-Mar.

4

11

18

25

1982-June
Sept.
June
Sept.
June
Sept.
June
Sept.

Apr.

May

29

July
Oct.

6

Aug.
Nov.
Aug
Nov.
Aug.
Nov.
Aug.
Nov.

13

20

27

June

3

10
17

24

July

1

8
15

22

29

Aug.

5

12

19

26

Sept.

2

9
16

23
30

Oct.

7

14
21

28

Number of
days to
maturity

Maturity
date

Sept*
Dec.
Sept.
Dec.
Sept.
Dec.
Sept.
Dec.
Sept.
Dec.
Oct.
1983-Jan.
1982-Oct.
1983-Jan.
1982-Oct.
1982-Jan.
1982-Oct.
1983-Jan.

1982-Nov.
1983-reb.
1982-Nov.
1983-Feb.
1982-Nov.
1983-Feb.
1982-Nov.
1983-Feb.

1982-Dec.
1983-Mar.
1982-Dec.
1983-Mar.
1982-Dec.
1983-Mar.
1982-Dec.
19B3-Mar.
1982-Dec.
1983-Mar.
Jan.
Apr.
Jan.
Apr.
Jan.
Apr.
Jan.
Apr.

3
2

10
9
17
16

2«
23
29

28
5

4
12

12
19
18
26
26

Amount
of bids
tendered

Amount
of bids
accepted

91
182
91
182
91
182
91
182
91
182

S9,913
11,779
10,350
9,405
10,974
12,004
13,721
10,569

12.449
12.786
12.059
12.065
12.908
12.962
12.553
12.673
12.470
12.640

J 396

12,671
13,490

S4,S46
4,837
4,836
4,833
4,838
4,842
4,829
4,839
4,735
4,744

91
182

13,967
14,053
14,001
14,851
13,751
13,889
15,729
12,828

r4,737
4,730
4,733
4.739
4,931
4,944
4,930
4,931

12.675
12.780
12.248
12.236
12.189
12.187
11.480
11.677

-313

11,755
13,360
12,564
13,156
13,813
12,238
9,148
9,099

4,936
4,937
5,047
5,026
5,027
5,023
4,529
4,525

11.519
11.589
12.074
12.117
12.248
12.503
12.588
13.031

30*

9,149
10,013
9,975
13,089
10,684
10,884
12,158
12,414
11,298
10,947

4,524
4,528
5,335
5,345
5,337
5,366
5,525
5,529
5,531
5.531

13.269
13.419
12.806
12.976
11.796
11.967
11.140
11.441
10.559
11.378

10,103
10,902
12,055
11,970
8,581
9,556
11,328
10,123

5,535
5,542
5,526
5,528
5,527
5,541
5,518
5,519

91
182

12,472
12,850
14,173
12,155
16,540
14,401
9,300
12,074
13,375
12,040

r5,510
r5,5I2
r5.617
r5,6l5
rS,638
r5,655
r5,657
r5,690
r5,l20
r5,109

r9.704
7.849
9.443
7.801
9.196

91
182
91
182
91
182
91
182

14,350
13,135
11,555
11,838
12,936
14,589
12,726
14,185

5,621
5,643
5,612
5,621
5,625
5,621
5.628
5.623

8.101
9.230
7.429
7.73*
7.436
7.761
8.030
8.*72

91

183
91

182
91

183

2

91

2

16
23
23

182
91
182
91
182
91
182

30
30

182

9
9

16

7

6
14
13
21

20
28
27
4
3

12
10
18
17

26
24

91
91
182
91
182
91
182
91
182
91
182
92
182
91

182
92
182

2

91

3

182
91
182

9
10
16
17
23
24
30
31

6
7

13
14

20
21

27
28

Source:
See Table PDO-2.
Equivalent average rate on bank discount
1/
Revised.
r

91

182
91
182

Average rate
of bids

accepted l_/
(percent)

New mocMy
increase, or
decrease (-)

372
*01

412
-291

-310
103
184

S21

S9S

-490

-591
1,077
994
1,411

1,277

9.632

rl.293

10.671
10.025
10.940

1,264

8.616
9.821
7.7*9
8.988

1,091

8.604
9.746
8.S6S
9.605

rl.250

8. 161

rl,423

1,157

rl,352

rl,979
r970

1,120
1.152

974
976

32

Treasury Bulletin
>PVBLIC DEBT OPERATIONS
Table PDO-4.

Offerings of Marketable Securities Other than
Regular Weekly Treasury Bills

Public

(Dollar amounts in millions)
Date subscription books
closed or
tenders recelved

Period to final
Issue
date
\J

Description of securities 2/

November 1982

33
PUBLIC DEBT OPBEATIOMS.

Table PDO-4.

Date subscrip-

Public Offerings of Marketable Securities Other than
Regular Weekly Treasury Bille-Continned

-

.

Treasury Bulletin

54
.PUBLIC DEBT OPEBATIONA^
Footnotes to Table PDO-4
Bureau of the Public Debt.
Source:
All securities except EA & EO notes were sold at auction
Note:
through competitive and noncompetitive bidding.
1 / For maturing Issues, see Table PDO-7
2/ For bill issues, always sold at auction, the rate shown is the
equivalent average rate (bank discount basis) of accepted bids.
For
Other securities Issued at par except those sold at auction.
details of bill offerings see Table PDO-2.
3 / From date of additional issue in cause of a reopening.
Ul In reopenings the amount issued is in addition to the amount of
original offerings.
5 / As of the April 1982 issue of the Bulletin, includes securities
issued to U.S. Government accounts and Federal Reserve banks; and to
foreign and international monetary authorities, whether in exchange
for maturing securities or for new cash.
6/ Yields accepted ranged from 11.48!!: (price 100.088) up to 11.75%
(price 98.197) with the average at 11.61% (price 99.171).
7 / As a result of correcting an overstatement by a Federal Reserve Bank
of the amount of noncompetitive tenders received, the total amount
of accepted tenders was changed from $4,500 million to $4,315
Neither the average yield nor the amount or range of
million.
competitive tenders was affected.
8 / Yields accepted ranged from 12.19% (price 99.888) up to 12.26%
(price 99.767) with the average at 12.24% (price 99.801).
9 / Yields accepted ranged from 13.09% (price 100.438) up to 13.40%
(price 99.592) with the average at 13.31% (price 99.837).
10 / Yields accepted ranged from 12.95% (price 100.276) up to 13.12%
(price 99.342) with the average at 13.07% (price 99.616).
11 / Yields accepted ranged from 12.69% (price 100.461) up to 12.87%
(price 99.090) with the average at 12.81% (price 99.543).
(price 99.941) up to 14.02%
12 / Yields accepted ranged from 13.91%
(price 99.755) with the average at 13.99% (price 99.805).
13 / Yields accepted ranged from 13.40% (price 100.211) up to 13.54%
(price 99.698) with the average at 13.52% (price 99.771).
_14/ Yields accepted ranged from 15.13% (price 99.992) up to 15.18%
(price 99.908) with the average at 15.15% (price 99.958).
15 / Yields accepted ranged from 13.93% (price 100.209) up to 14.06%
(price 99.821) with the average at 14.03% (price 99.910).
16 / Yields accepted ranged from 12.38% (price 99.957) up to 12.50%
(price 99.407) with the average at 12.49% (price 99.453).
17 / Yields accepted ranged from 11.77% (price 99.787) up to 11.84%
(price 99.255) with the average at 11.82% (price 99.407).
18 / Yields accepted ranged from 13.65% (price 99.958) up to 13.71%
(price 99.856) with the average at 13.69% (price 99.890).
19 / As a result of correcting an understatement by a Federal Reserve
Bank of the amount of competitive tenders received, the total
amounts of tenders received and accepted were increased by $100
million.
The average yield was not affected.
20 / Yields accepted ranged from 13.32% (price 99.809) up to 13.40%
(price 99.592) with the average at 13.37% (price 99.673).
21 / Prices accepted ranged from 100.85 (yield 12.83%) down to 100.25
(yield 12.94%) with the average at 100.50 (yield 12.89%).
22/ Prices accepted ranged from 100.81 (yield 12.63%) down to 100.26
(yield 12.70%) with the average at 100.43 (yield 12.68%).
21/ Yields ranged from 13.94% (price 99.890) up to 14.00% (price 99.789)
with the average at 13.97% (price 99.839).
24 / Yields ranged from 13.74% (price 99.865) up to 13.74% (price 99.610)
with the average at 13.79% (price 99.683).
25 / Yields accepted ranged from 12.61% (price 100.026) up to 12.68%
(price 99.905) with the average at 12.65% (price 99.957).
26 / Yields accepted ranged from 13.46% (price 99.744) up to 13.51%
(price 99.953) with the average at 13.49% (price 99.653).
27/ Yields accepted ranged from 13.13% (price 99.870) up to 13.26%
(price 98.963) with the average at 13.21% (price 99.310).
28 / Yields accepted ranged from 13.24% (price 100.025) up to 13.39%
(price 99.355) with the average at 13.34% (price 99.577).
29 / Yields accepted ranged from 14.35% (price 100.253) up to 14.63%
(price 99.781) with the average at 14.51% (price 99.983).
30 / Yields accepted ranged from 15.79% (price 99.907) up to 15.82%
7price 99.838) with the average at 15.81% (price 99.861).
31 / Yields accepted ranged from 14.44% (price 100.312) up to 14.60%
(price 99.482) with the average at 14.56% (price 99.689).
32 / Yields accepted ranged from 13.85% (price 100.177) up to 14.01%
(price 99.053) with the average at 13.99% (price 99.192).
33 / Yields accepted ranged from 15.70% (price 99.876) up to 15.74%
(price 99.809) with the average at 15.72% (price 99.842).
34 / Yields accepted ranged from 13.84% (price 100.131) up to 14.02%
(price 99.460) with the average at 13.95% (price 99.720).
35 / Yields accepted ranged from 14.69% (price 99.891) up to 14.74%
(price 99.807) with the average at 14.72% (price 99.840).
36 / Yields accepted ranged from 13.98% (price 100.060) up to 14.06%
(price 99.821) with the average at 14.04% (price 99.881).
37 / Yields accepted ranged from 13.36% (price 100.004) up to 13.49%
(price 99.108) with the average at 13.45% (price 99.382).
38 / Yields accepted ranged from 13.95% (price 100.199) up to 14.14%
(price 99.369) with the average at 14.07% (price 99.674).
39 / Yields accepted ranged from 15.88% (price 99.992) up to 15.95%
(price 99.876) with the average at 15.92% (price 99.925).
40 / Yields accepted ranged from 15.94% (price 99.870) up to 15.97%
(price 99.795) with the average at 15.96% (price 99.820).
41 / Yields accepted ranged from 14.93% (price 99.719) up to 15.02%
(price 99.262) with the average at 14.98% (price 99.465).
42 / Prices accepted ranged from 98.99 (yield 14.00%) down to 98.46
(yield 14.08%) with the average at 98.58 (yield 14.06%).
43 / Yields accepted ranged from 16.20% (price 100.083) up to 16.28%

(price 99.950) with the average at 6.26% (price 99.983).
44 / Yields accepted ranged from 16.05%
price 100.043) up to 16.19%
(price 99.561) with the average at 6.14% (price 99.733).
45 / Yields accepted ranged from 16.03% price 99.950) up to 16.17%
(price 99.719) with the average at 6.12% (price 99.802).
46 / Yields accepted ranged from 15.89% price 99.957) up to 15.93%
(price 99.842) with the average at 5.91% (price 99.899).
47 / Yields accepted ranged from 15.72% price 100.062) up to 15.82%
5.78% (price 99.699).
(price 99.458) with the average at
48 / Yields accepted ranged from 15.33% price 100.186) up to 15.44%
5.40% (price 99.892).
(price 99.725) with the average at
49 / Yields accepted ranged from 15.53% price 99.950) up to 15.59%
5.56% (price 99.900).
(price 99.851) with the average at
50/ Yields accepted ranged fromm 14.36% (price 100.036) up to 14.46%
(price 99.799) with the average at 4.43% (price 99.870).
51/ Yields accepted ranged from 14.33% price 99.582) up to 14.36%
(price 99.425) with the average at 4.33% (price 99.582).
price 100.141) up to 14.24%
52 / Yields accepted ranged from 13.98%
(price 98.342) with the average at 4.10% (price 99.303).
53/ Yields accepted ranged from 12.05% price 100.130) up to 12.27%
2.22% (price 99.836).
(price 99.750) with the average at
54 / Yields accepted at ranged from 12.79%% (price 99.699) up to 12.85%
2.83% (price 99.550).
(price 99.476) with the average at
55 / Yields accepted ranged from 12.97% price 100.051) up to 13.15%
(price 99.744) with the average at 3.06% (price 99.897).
price 100.104) up to 14.22%
56 / Yields accepted ranged from 14.09%
(price 99.718) with the average at 4.16% (price 99.896).
price 100.229) up to 14.27%
57 / Yields accepted ranged from 14.20%
(price 99.767) with the average at 4.25% (price 99.899).
58 / Yields accepted ranged from 14.65% price 99.887) up to 14.84%
(price 99.077) with the average at 4.74% (price 99.502).
59 / Yields accepted ranged from 14.95% price 100.084) up to 15.11%
5.08% (price 99.866).
(price 99.816) with the average at
60 / Yields accepted ranged from 14.57% price 100.130) up to 14.67%
(price 99.894) with the average at 4.63% (price 99.988).
price 100.129) up to 14.72%
61 / Yields accepted ranged from 14.60%
(price 99.511) with the average at 4.68% (price 99.716).
62 / Prices accepted ranged from 96.68 (yield 14.47%) down to 95.75
(yield 14.61%) with the average at 96.08 (yield 14.56%).
63/ Yields accepted ranged from 15.12% price 100.008) up to 15.26%
(price 99.775) with the average at 5.21% (price 99.858).
64 / Yields accepted ranged from 13.96%
price 99.965) up to 14.05%
(price 99.639) with the average at 4.01% (price 99.784).
65 / Yields accepted ranged from 14.08% price 100.076) up to 14.16%
(price 99.941) with the average at 4.14% (price 99.975).
price 99.940) up to 14.08%
66 / Yields accepted ranged from 14.02%
(price 99.762) with the average at 4.05% (price 99.851).
67 / Yields accepted ranged from 14.38% price 99.957) up to 14.451
(price 99.655) with the average at 4.42% (price 99.784).
68/ Yields accepted ranged from 13.95% price 99.873) up to 14.02%
(price 99.754) with the average at 3.98% (price 99.822).
69 / Yields accepted ranged from 14.16% price 99.917) up to 14.19%
(price 99.846) with the average at 4.17% (price 99.893).
70/ Yields accepted ranged from 13.73% price 100.017) up to 13.80%
(price 99.733) with the average at 3.77% (price 99.893).
71/ Yields accepted ranged from 13.75% price 100.000) up to 13.78%
3.77% (price 99.966).
(price 99.949) with the average at
price 100.116) up to 13.73%
72 / Yields accepted ranged from 13.67%
(price 99.897) with the average at 3.71% (price 99.970).
price 100.025) up to 14.49%
73 / Yields accepted ranged from 14.36%
(price 99.806) with the average at 4.43% (price 99.907).
74/ Yields accepted ranged from 14.93% price 99.839) up to 14.97%
(price 99.722) with the average at 4.96% (price 99.752).
price 99.766) up to 14.68%
75 / Yields accepted ranged from 14.55%
(price 99.208) with the average at 4.62% (price 99.465).
76/ Yields accepted ranged from 13.04% price 100.145) up to 13.17%
(price 99.923) with the average at 3.09% (price 100.060). The
coupon rate was established at 13-1/ 8% so that all prices would be
above the original issue discount 11 mit of 99.750.
77/ Yields accepted ranged from 13.00% price 100.302) up to 13.22%
(price 99.771) with the average at 3.17% (price 99.891).
yield 13.64%) down to 100.03
78 / Prices accepted ranged from 100.47
(yield 13.72%) with the average at 00.18 (yield 13.69%).
79 / Yields accepted ranged from 11.38% price 100.428) up to 11.72%
1.67% (price 99.922).
(price 99.835) with the average at
80/ Yields accepted ranged from 12.64% price 99.807) up to 12.69%
the
average
at
2.68%
(price 99.658).
99.620)
with
(price
price 100.217) up to 12.25%
81 / Yields accepted ranged from 12.00%
(price 99.784) with the average at 2.20% (price 99.870).
82/ Yields accepted ranged from 12.28% price 99.907) up to 12.31%
(price 99.815) with the average at 2.30% (price 99.846).
83 / Yields accepted ranged from 11.82% price 100.229) up to 12.00%
1.94% (price 99.667).
(price 99.387) with the average at
84 / Yields accepted ranged from 11.65% price 99.727) up to 11.79%
1.68% (price 99.496).
(price 98.659) with the average at
85 / Yields accepted ranged from 9.72% (price 100.053) up to 9.85% (price
99.823) with the average at 9.79% (price 99.929).
86 / Yields accepted ranged from 9.70% (price 100.128) up to 9.90% (price
99.619) with the average at 9.86% (price 99.720).
87 / Yields accepted ranged from 10.46% (price 100.244) up to 10.53%
(price 99.817) with the average at 10.50% (price 100.000).
88 / Yields accepted ranged from 10.44% (price 99.407) up to 10.48%
(price 99.045) with the average at 10.46% (price 99.226).
•

p

Less than $500,000.
Preliminary.

November 1982

33
PUBLIC DEBT OPSrATIOMS.

Table PDO-5.

Description of securities

7-7/8%

-

Unmatured Marketable Securities Issued at a Premium
Other than Advance Befunding Operationa
Date of
financing

Amount issued
(in millions)

Average price
per hundred

Effective
interest
rate
(percent)

or

Discount

Eligible securities (Khanted

Treasury Bulletin

36
.PUBLIC DEBT OPERATIONS.

Table PDO-5. - Unmatured Marketable Securities leaned at a Premium or Discount
Other than Advance Refandim Operations - Continued

November 1982

37
PUBLIC DEBT OPERATIONS*

Table PDO-6. - Unmatured Marketable Sccuritiee Issued at a Premium or Diieoant
Other than Advance Refunding Operations - Continued

Description of

38

Treasury Bulletin
PUBLIC D£BT OPBEATiOHS.
Table PDO-5.

Unmatured Marketable Securities Issued
Other than Advance Refunding Operations

-

Description of securities

2000

8-1/AZ

2001

11-3/4%
13-1/8Z

Bond

-

5/15/00-05

Date of
financing

Amount issued
(in millions)

Average price
per hundred

at
-

a

Premium

or

Discount

Continued
Effective
interest
rate
(percent)

Eligible securities exchanged

November 1982

39
.PUBUC DEBT 0PERATI0N8.

Table PDO-«. - Allotment, by Uvertor

CU.M. ob SiU>«:ri|>ti<»« for Public If.rk.Ubl. S^cariti..
Part A. - Otkar tk»m iii« w
(In millions of dollars)

Allotnents by Investor classes
Amount Issued
Date of
financ-

Description of securities

ing

For
cash

U.S. Gov-

ernnent
accounts

In

exchange

and

for

Federal
Reserve
banks 2/

other
securities

10/14/80
10/31/60

11-1/2%
12-1/8J

Bond
Note

- U/15/95
- 10/31/82-X

U/17/eO

13-1/4X

Note
Note
Bond
Note
Note

5/15/84-G
- 11/15/90-8

1,482

-11/15/05-10
- 11/30/82-V
2/15/86-C

500
220
159
365

Note
Note

- 12/31/82-2
- 12/31/84-H

4,605
3,368

350
252

12-3/8%
11-3/4%
13-5/8%

Note

-

1/15/88-C
2/15/01
1/31/83-M

2,710
1,501
4,730

13-1/4%
il 13%
8/ 12-3/4%

Note
Note
Bond

8/I5/84-J
- 11/15/90-B

3,912
2,638
2,251

13-7/8%
13-3/4%
12-5/8%
13-3/8%
13-1/8%
13-1/4%
14-1/2%
15-3/4%
14-1/2%
13-7/8%

Note
Note
Note
Note
Bond
Note
Note
Note
Note
Bond

-

6/01/81

15-5/8%

Note

6/03/81

13-7/8%

Note

6/30/81

14-5/8%
14%
13-3/8%
14%

Bond

-

12-3/4Z
13-7/8%
13-1/2%

12/01/80
12/08/80

15-1/8%

12/31/80

14%

1/05/81
1/12/81
2/02/81

2/17/81

3/02/81
3/04/81
3/31/81

4/02/81
4/06/81
4/30/81
5/15/81

7/02/81
7/07/81
7/31/81
8/17/81

8/31/81
9/08/81
9/30/81
10/07/81
10/14/81
11/02/81
11/16/81

Ings
banks

_5/

and retire-

Pension

funds

32

1

416

10

1,111
779
596
1,848
985

188
36

43
25

1

147

22
504
145

1

12
22

6
44
38

336
128
245

1,320
1,342

337
266

15
31

44
29

1,352
358
1,740

85
91
327

20

10

1

5

8

23

20

750
400
325

1,812
693
786

238
92

700
259

700
259

1,869
1,264
1,970
1,292

304
185
294
241
130
152

54

56
122

817
1.658

10

1,591

15

1,2 34

22
9

7

994
1,488
1,452

147

21

6

160

78

6

69
152
132

59

7

3
17

7

22
27
20

444-

39

18

772

263
284

33
81

12

1,225
898

10
27
16

65

38

2

45
6

IS
3
19

100
273
148
105

4

45

22

34
8

39
11

11/15/86-E

3,206

1,016

7

Note
Note

-

Bond

-

Note
Noce
Note
Note

-

Note

-

6/30/83-S
6/30/85-H
8/15/01
7/15/88-E
7/31/83-T
11/15/84-L
8/15/91-B
5/15/06-11
8/31/83-U

4,307
3,281
1,753
3,469
4.622
4,630
2,412
2,002
4,856

Note
Note
Note
Bond
Note
Note
Note
Note
Bond
Note
Note

- 11/15/86-F

3,469
4,868
3,762
1,753
3,474
4,864
5,163
2,486
2,002
4,824
3,437

Note
Note
Bond
Note
Note

- 12/31/83-Y

-

14%

Note
Note
Bond
Note
Note
Note
Note

14-3/8%
13-7/8%
14-1/8%
13-3/4%
13-3/4%
13-3/4%
14-3/8%

Note
Note
Note
Note
Note
Note
Note

16%

14-7/8%
13-7/8%
16-1/4%
16-1/8%
16%

15-7/8%
15-3/4%
15-3/8%
15-1/2%
14-3/8%
14-1/4%

14-1/8%
14-1/4%
14-5/8%
15%

14-5/8%
14-5/8%
8/ 14%
15-1/8%
3/01/82
14%
3/03/82
14-1/8%
3/31/82
2/16/82

14-7/8%
14-1/2%
13-1/8%
13-1/8%
13-3/4%
11-5/8%
12-5/8%
11-5/8%
11-7/8%
12-1/8%
12-1/4%

Note
Note
Note
Note
Note
Note
Note
Bond
Note
Note
Note

-

-

-

9/30/83-V
9/30/85-J
- 11/15/01
- 10/15/88-F
- 10/31/83-W
- 11/15/84-M
- 11/15/91-C
-11/15/06-11
- 11/30/83-X
-

2/1 5/87 -D

261

261

681
300
300

681
300
300

300

300

112

112

352
1,150
400
305
575

1,150
400
305
575

400
199

400
199

352

606
1,050
400
322
669

606
1,050
400
322
669

600

600

154

154

2/15/85-L
- 2/15/92-A
-11/15/06-11
2/29/84-P
5/15/87-E
3/31/84-q
3/31/86-G

5.613
2,713
2,502
5,359
3,519
5,619
3.927

275
100
75

-

3,348
5,352
5,352
4,014
5,607
4,078
5,594

12/3I/85-K
2/15/02
1/15/89-C
1/31/84-N

-

-

5/15/89-D
4/30/84-R
5/15/85-M
5/15/92-B
5/31/84-S
8/15/87-?
6/30/84-T

6/30/86-H

7/15/89-E
7/31 /84-U
8/15/85-N
5/15/92-B
8/31/84-V
- 11/15/87-C
- U/15/02

- 10/15/89-F
-

9/30/84-F
9/30/86-J

4,557
4.723
6,070
6,087
5,006
6,922
5,384
2,753
4,237
7.092
5,713

1,098
1,452
492
1,328
1,562
1,567
830
621

1,965
912
2,039
922
554
1,349

4,827
3,276
1,759
3,508
5,718

-

511
1,394
2,077
1,069
634
617

275
100
75

591

591

600

600
288

288
525
1,600

525
1,600

941
411

941

411

638

638

201

201

1,107
1,400
837
570

550
100

1,107
1,400
837
570

550
100

390
445
138
97

346

236
108
217
491
549
129
184
481

3
2

14

48

5

24
6
81
10
13
23
40

32
13

5

1

6

45

176

1

4

35
22
3

15
25

445
251

98
207
493
433
220
88
r434
227

13

6
15
9

11
32
18
5

10

7

rl6

29

9

II

200

8

109
56

3

25
8

3

4

145
456

41
9

2,209
935
759
2,379
1,471
1,933
1,103

377
244
213

10

29

II

I

1,100
2,107
1,736
1,705
2,862
1,531
rl,690

181

1,173
1.953
800
873
rl,780
804
1,740
834
236
874
1,739

rl,499
rl,487
r2,731
2,153
pi ,253

p2,377
p2,015
p503
p998
pi, 931
pi. 694

493
176
563
275
342
515
325

424
198
r393
r316
r261
r265
240
p78
p307
p313
p9S
p205
p251
p372

26

and
brokers

6
13

-

-

Dealers
Other

and refunds
tl resent
funds

7

18

69

18

32

13%

8/31/82
9/07/82
9/29/82

govemaents 6/

cnt

325

750

400

Private
pension

1,289

12/31/81

7/06/82
7/08/82
8/02/82
8/16/82

350
252

Corporations

4,352

12-1/8%
12-3/4%

6/01/82
6/02/82
6/30/82

4/

Hutual
sav-

5/31/83-11

11/30/81
12/02/81

4/07/82
4/30/82
5/17/82

2/28/83-N
5/I5/86-D

500
220
159
365

als

Insurance
companles

5,012
3,460
4,883
3,527
1.750
2,972
4,325
3,095
1,747
2,002

14%

1/06/82
1/13/82
2/01/82

-11/15/05-10

3/

Individu-

3/31/83-P
3/31/85-G
5/15/01
4/15/88-D
4/30/83-Q
5/15/84-IC
5/15/91-A
- 5/15/06-11

15-7/8%

y

Bond
Note

cial
banks

540
1,405

4,403
3,815
2,443
2,001
4,601
3,188

13t

Stat* and local

Commer-

2

5

2,173
855

895
854
1,7*4

5

2

1,911
1,193
1.175
1,265
939
1,046
1,083
850
660
908

11

11
7

37

*

86
100
67
144
218

11
11

7
3

41
27

32
17

7

138

13

1,681

1,530
56

33

6

9

9
41
37
6
14
19

83

5

2

72
106
116

7

50

II

215
198
154
123

19
34

23
36
27

3

15

7

2

12
5

2,120

6

21

13

35
16
27
44

34
5

17
48

41
247
58

25

86

237
179
98

22
38
17
44
22

192

52

121

3

13

110

*

7

22

46

2
2

22
23
18
9
15

5.

335

II

II

21
11

12

9
33
I

22
6
15
9

95

9

136

84

288

12

I

18

216

11

15

20
19

no

16

17

254

9
84

3

20

91

8
79
82
49

7

4

232
rl34

13
13

r283
rS22
556
407
p362
p573
p581
p498
p486
p264
p454

r25

4
7

40
26
6
14

25

15

14

r30

14

9

II

11

44

12

p32
pl4
p22
p32
p7
pl7

p8

p30

p36
pl4
Pl

pl6
p56
pll

199

988
959
1,184

12

3

132
115
127
109
61
193

121

1,391

1,873
1,273
1,213
943
1.234
1.770
1,539
90«
929
1,280
1,971

121

250

1,913
560
865
1,279
1,480

3«

rl7
43
pS8
pl7
p46
p32
p3l

p26
p54

I

6

3

I

71

42
9
16
6
7

pl
P«
pl

p3

6

1,311

836
1,919
2.392
1,741

1.150
1,370
1.870
l.lSt
2.073
1.635
1,649
1,826
1.877
1,481

1,528
l,5J9
rl,848

other
7/

Treasury Bulletin

40
PUBLIC DEBT OPERATIONS.
Table PDO-6.

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

-

Bills

Other than Regular Weekly Series
(Dollar amounts in millions)

November 1982
PUBLIC DEBT 0PEBATI0N8
Table
^j?fl"''
Other

Dace of
refunding
or retire-

Disposition of Public Marketable Securitie.
r,.
than Regolar Weekly Treasury Bills

41

Treasury Bulletin

42
PUBLIC DBBT OPERATIONS
Table PDO-8.

issued

to

-

Foreign Series Securities (Nonmarketabl*)

Official

Institutions of

Foreign Countries

(Payable In U.S* dollars; dollar amounts In millions)

Securities

ISBue

November 1982

43
PUBLIC DEBT OPERATIONS
Table PDO-8.
Issued

to

-

Official

,

Foreign Series Secarities (Nonmarketable)
Institntions of

Foreisn Coantries-Continaed

Treasury Bulletin

44
iFUBLIC DEBT OPEEATIONSt
Table PDO-9. - Foreign Currency Series Securities
Issned to Residents of Foreign Countries
(Dollar amounts in millions)

Amount
(dollar equivalent)

Month of
activity

November 1982

45
.UNITED STATES SAVINGS BONDS

Series EE and HH bonds, on sale since January
savings bonds currently sold.
through April 30, 1941.

1,

1980, are the only

Series A-D were sold from March

and G were sold from May 1, 1941, through April 30, 1952.
1952,

1,

from

1935,

through December 31, 1979.

May

through April

1952,

1,

changes in Issues,

Series E was on sale from May 1, 1941, through

December 31, 1979 (through June 1980 to payroll savers only).

from June

1,

In Treasury

Series F

May

1959,

Series H sold

Annual

Series J and K were sold

Bulletins

and

Report

of

October
of

30.

1957.

Detail, of

th>

principal

Interest yields, aaturltlM, and other taraa appear

the

April

1961,

1951,

June

Secretary of

May

1968,

1957,

and

Octobtr and

Occaalxr

Septabcr 1970;

the Treasury

for

fiscal

and

years

th«
1966

through 1980.

Table SB-1. - Sales and Redemptions by Series, Camalative thrcagk October

31,

1982

(In millions of dollars)
Attount

Sales 1/

Series
Series
Series
Series

A-D ^Z
E, EE, H, and HH
F and G
J and K

Total A-K

Accrued
discount

3,949
223,219
28,396
3,556

1,054
73,681
1,125

259,119

Sales plus
accrued
discount

Redemptions

198

5,003
296,900
29,521
3,754

5,001
229,340
29,515
3,752

76,058

335,178

267,609

l_/

Interestbearing debt

outstanding
Matured
non-lnterestbearlng debt

2

46

67,568

5
1

Footnotes at end of Table SB-4.

Table SB-2.

Sales and Redemptions by Periods, All Series Combined
Redemptions 1/

Fiscal years
1935-71
1972
1973
1974
1975
1976
T.Q
1977
1978
1979
1980
1981
1982

Sales 1/

Accrued
discount

189,436
5,940
6,514
6,429
6,826
7,293
1,833
7,895
8,026
7,295
4,819
3,355
3,112

34,844

:

Calendar years
1935-71
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981

Months
1981-Oct
Nov
Dec
1982-Jan
Feb
Mar
Apr
May
June
July
Aug

:

192,189
6,236
6,270
6,862
7,038
7,555
7,954
7,959
6,988
4,124
3,335

:

Sept
Oct

246
244
301

272
254
267
256
242
250
288
234
257
292

2

Sales plus
accrued
discount

Aaount outstanding

46

Treasury Bulletin
.UNITED STATES SAVINGS BONDS.
Table SB-3.

-

Sales and Redemptions by Periods, Series

(In .llllonB of dollare)

E through

K

November 1982

47
UNITED STATES SAVINGS BONDS.
Table SB-3.

-

Sales and Redemptions by Periods. Series

E through K-Continued

(In »llllon« of JolUri)

Sales 1/

Redeapttons 1/

Accrued
discount

Sales plus
accrued
discount

Sales
price

V

Accrued
discount 3/

Exehansc of
C bonds for
H and HH bonds

Aaount outstandtBM

tntersstb«arlng debt

Series E and EE

Fiscal years
1941-71
1972
1973
1974
1975
1976
T.q
1977
1978
1979
1980
1981

:

142,675
5,650
6,190
6.145
6,503
6,975

1982

Calendar years
1941-71
1972
1973
1974
1975
1976
1977
1978
1979
1980

175,142
7,960
8.755
8,894
9,755
10,471
2,663
11,403
11,879
11,379
8,855
7,502
7,964

126,797
4,972
5,209
6,156
6,063
6,114
1.611
6,638
7,244
10,151
15,417
11,271
8,062

109,861
3,932
4,118
4,842
4,717
4,705
1,241
5,070
5,469
7,323
10,160
6,850
4,779

16,936
1,037
1,0?0
1,314
1,346
1,409

1,761
7,576
7,774
7,061
4,684
3,303
3,062

32,467
2,310
2,564
2,749
3.252
3,496
902
3,827
4,104
4,318
4,171
4,199
4,902

1,567
1,775
2,828
5,256
4,420
3,262

2,443
292
338
310
310
326
SO
313
325
345
537
748
718

145,244
5,922
5,988
6,524
6,729
7.245
7,638
7,718
6,783
4,028
3,256

33,600
2,426
2,673
2,994
3,368
3,597
3,910
4,180
4,298
4,124
4,365

178,844
8,348
8,661
9,518
10,097

129,171
5,007
5,740
6,318
5,886
6,336
6,686
7,645
111,367
14,346
11,049

111,763
3,958
4,507
4,965
4,555
4,855
5,095
5,762
8,084
9,206
6,672

17,408
1.049
1,234
1,353
1,331
1,481
1,591
1,883
3,283
5.139
4,377

2,565
329
319
310
326
327
303
333
356
599
7S0

259
246

319
398
457
452
414
395
394
426
434
422
395
396
412

792
571
547

473

71

922
823

693
672
315

319
279
179
229

371

:

1981

Months
1981-Oct
Nov

10,841

11,548
11,898
11,081
8,151
7,621

:

Dec.

..

1982-Jan
Feb
Mar
Apr.

271

265
244
261
.

.

256

May
June. .
July...

241

Aug. .
Sept...
Oct. ...

271

.

253
244
255
270

578

645
728
717

659
656
645
667

687
666
665
651

682

819
716
575
590
652
570
486
465

291
367

312
294
325
431
396
212
275

49
32
59

151

52

505
409

75
66

281
265
221

60

174
274

102
62

189

67
24

45

..
.

Treasury Bulletin

48
UNITED STATES SAVINGS BONDS.
Table SB-4.

-

Redemptions of Matured and Unmatured Savings Bonds
(In

mllUonB

of dollars)

Unclassified
Series P., ER,
H, and HH

Fiscal years
1951-72
1973
1974
1975
1976

Series E, EE,
H, and HH

7/

:

4,058
5,586
6,681
6,517
6,543
1,689
7,064
7,747

T.Q
1977
1978

1979
1980

0,975
6,703
2,242
8,712

1981
1982

Calendar years

58,829
2,126
2,729
2,544
2,820
797
3,578
3,157
5,654
10,430
8,769
6,729

39,979

18,849

2,121
2,724
2,545
2,816
794
-577
3,153
5,651

5

5

-1
4
3
1

81,778
3,393
3,847
3,776
3,772

70,563
3,393
3,847
3,776
3,772

891

891
3,487
4,590
4,927

3,487

2

4,690
4,927
6,430
3,105

1

1,982

4
3

10,428
8,769
6,728

2

38,972
2,047
2,505
2,622
2,481
3,275
2,556
3,125
6,448
10,116
8,978

20,395

11,214

-197
-156
223

6,430
3,105
I',

-23
67
104
198

982

:

1951-71
1972
1973
1974
1975
1976
1977
1978
1979
1980

34,830
5,365
6,210
6,833
6,291
6,771
7,110
8,200
12,326
15,543
11,998

1981

Months
1981-Oct

59,368
2,053
2,508
2,627
2,481
3,275
2,556
3,129
6,459
10,112
8,981

6
3
5

*

8

-4
4
11

-4
3

75,463
3.337
3,578
3,789
3,955
3,487
4,553

66,633
3,337
3,578
3,789
3,955
3,487
4,553

5,071
5,709
5,709
3,017

5.709
5,709
3,017

8,830
-24
123
417
-145

5,071

158
-277

:

Nov. .
Dec. ...
1982-.Ian
Feb
.

Mar
Apr. .
May....
June. .
July...
Aug .
Sept..
Oc t . .
.

.

.

.

864
621
585
986
876
882
783
622
645
702
615
529
465

672
578
344
441
300
,022

846
576
557
405
429
558

Source:
Monthly Statement of the Public Debt of the United States;
Office of M/irket Analysis, United States Savings Bonds Division.
Note:
In these tables sales of Series A-F and J bonds are Included
at Issue price, and redemptions and amounts outstanding at current
redemption value. Series C, H, HH, and K are Included at face value
throughout. Matured bonds which have been redeemed are Included In
redemptions.
Matured E, H, J, and K bonds outstanding ore Included
In the Interest-bearing debt until all bonds of the annual series
have matured, nnd are then transferred to matured debt on which
interest has ceased.
Sales and redemption figures Include exchange of minor amounts of
(1) matured Series E bonds for Series G and K bonds from Hay 1951
through April 1957; (2) Series F ond J bonds for Series H bonds
beginning January 1960; and (3) U.S. savings notes for Series H
bonds beginning January 1972; however, they exclude exchanges of
Series E bonds for Series H and HH bonds, which are reported In
Table S8-3.
Details by series on a cumulative basis and by periods of Series A-D
_2/
combined will be found In the February 1952 and previous Issues of
the Treaaury Bulletin.

672
578
343
441
300
1,022
846
576
557
405
429
538

V
4^/

_5/

U

6/

192
43
242
545
576
-140
-63
45
88
298

192
43
242
545
576

-140
-63
45
88
298

186

186

-30

-30

Because there Is a normal lag In classifying redemptions, the
distributions of redemption between sales price and accrued discount
have been estimated.
Series F and C. sales were discontinued April 30, 1952, and Series J
and K sales were discontinued April 30, 1957.
Sales figures after
April 30, 1957, represent adjustments.
Includes exchanges of Series 1941 F snd G bonds for 3-1/4 percent
marketable bonds of 1978-83.
Includes exchanges of Series 1948 F and G savings bonds for 4-3/4
percent marketable notes of 1964.
Includes exchanges of Series 1949 F and G bonds for 4 percent
marketable bonds of 1969.
Includes exchanges of Series 1960 F snd G bonds for 3-7/8 percent
marketable bonds of 1968.
Includes exchanges of Series 1951 and 1952 F and C bonds for 3-7/8
percent marketable bonds of 1971 and 4 percent marketable bonds of
1980.

7_/

*

Represents changes In the amounts of redemptions not yet classified
between matured and unmatured issues.
Not available.
n.a.
Less than $500,000.

November 19^2
49

— UNITED
Table SBHJ.

- 8.1e.

STATES SAVINGS BONDS.

by St.te.. Seri-

E.

(In thnniinrtii

«l

1,1

(lnlUr«

EE. H. and
l..uii

HH Combined

prlol

Inception
through
Septan b«r
1982 1/

AUbana
Alaaka
Arliona

2,358,09;
167,166
.157, 479

V

1

Arkanaaa
California
Colorado

,211,904
15,191,8 77
,781,741
1

1

Connecticut
r)L>l aware
Dlatrlct of Columbia

1,775,221
789,910
2,887,741

Plorlda
CeorKla
Hawa II

4,575
287
2,172

1,404
16,056
2,466

7,434

4,624

2,909

3.710
216
2.589

118
2,984

4.457
348
2,276

1,181
21,108
2,618

18,199
2,708

1, 269
17,018
2,544

1,441
15,294
2,287

5,675
1.029
5,756

5,448
1,080
5,221

4,160

1,157

5,016
102

1,161

5,891
1,140

5,824
1,024

4,444

6,198

6,757

10,051

9,310
6,875
2,187

11,568
7,428
2,195

12,989
5,115

11,515
7,569
1,052

11,971
5,985

917

448

469,117

Idaho

5,560

1,429
16,267
2,612

5,161

Nay

1,171

9,721
5,188
1,165

,

1,356
16,608
2,729

3,911
372
1,757

Apr.

4,784

,098,898
2,894,816
816 060

4

4,840
283
2,712

5,649
917

5,480
1,091

940

July

4.750

4,565

A"!.

4,296

•M-

157

128

114

)25

2,488

2.291

2,4)9

2.009

5,242
)58
).00«

1,174
602
2,608

1,297
17,2 76

2,119

1,141
17,141
2,525

1.249
17.715
2.226

1.)54
19.9))
2.704

5.252
1.058
6.478

5.558
1.028
5.612

5,499
994

6,514

5.029
1.009
5,779

5,)))
972
6,005

12.694
5,122
1,117

11.226
7.196
885

12,111
5,958
1,140

11,015
5,069
950

12,115
7,576
962

591

1

6

,

11,534
10,806

520
11,693
9,795

15,044
12,186

523
14,494
10,718

457
12,060
9,544

177
14,581
11,029

14,025

11,725
9,922

12,581

516
11,485

10,14>

415
11,429
9,951

628

6,460,466

444
11,299
11,012

542

Indiana

9,999

10, til

Iowa
Kanaaa
Kentucky

4,941 ,152
1,099,642
2,568,877

1,107
2,262
2,556

2,777
2,189
2,519

3,085
2,501
2,785

1,122
2,482
1,559

1,184
2,869
1,580

1,010
2,161
1,418

1,224
2,141
1,116

1,221
2,616
1,504

1,187
2,278
1,268

1,016
2,522
1,479

1.057
2.101
1,27*

1.168
2.517
).))«

Loulalana
Maine
Maryland

2,199,299
818,185
1,922,424

4,267
2,169
8,110

4,164
1,083
7,414

3,911

4,519
1,055
8,499

1,918
1,197

4,100
1,102
7,162

4,956
1,100
7.669

5, 006

951

7.514

4,149
1,050
8,170

4,040

7,486

2,665
1,198
7,555

4,170

8,426

7,918

1.019
7.644

6,499,219

16,028
7,597
3,866

6,987
7,583
4,639

9,758
7,683
3,959

9,789
8,671

10,217
8,289
1,885

9,001
8,124
4,186

9.375
8,321
4,914

10,929
8,698
4,595

9,814
8,612
1,571

10,876
8,588
1,542

9,867
8,106
4,158

10.066
1,854
),a>o

1,925
5,994
724

1,830
7.366
765

996
6.712

1,215

1,914

1,781

6,959
617

1,928
6,380
800

2,101

6,151
637

2,008
6,696

6.24)

«,7)a

2.221
6.)4)

791

764

671

801

2.621
617

1.768
502
961

1,768

1,629
571
885

1.674
524
941

2,861
487

2, 660

1.020

1.882
598
961

921

518
71)

12,107

20.460

11,895
1,268
)),I22

11.928
i,)a6
21,045

4.761
5)7

).7)9
570
15.07)

569
15.712

2,)95
1,512
18,7)4

2,8)6
1,980
>0,22)

1,009
1,645
628

1,1)9
1,66)
672

5,40)
19,055
l,)«4

1 1 1

Inol a

1

MaaaachuaettH
Ml chlgan
MInneaota

1

6

1

,

,

604 ,04

1 18

1

,458

1,944,129

401

1,15!

MlaalaalppI
Mlaaourl
Montana

,161,292
6,110,110
877,814

2,019
6,461
678

2,042
6,138
631

Nebraaka
Nevada
New Haopshlri-*

2,901,951
121,841

1,481

1,158

1,724

51
,556

431

836

464
956

10,749
1,178

New Jeraey
New Mexico
New York

1

54 7,854

,

North Carolina
North Dakota
Ohio

Oklahoma
Oregon
Pennayl vania

1

5.541

776

76

1,681
557

851

897

11,784

840
25,117

11,456
1,148
11,762

11,901

12.176
1.114
24.181

15,956

3.607
549
14.946

4,261
506
15.812

4.003
650
15.016

1.727
562
14,710

I5.4»a

2.666
1.952
26.241

2.544
1.787
27.598

2.672
I.5S3
20.241

2.616
1,991

27.570

2.2«4
1.906
22,124

24,810

1.181
1,874
690

950
1.785
557

1.171
1,705
555

1.267
2,115

1,175
1,690
716

1,215
1.747

748

5,719
19,214
1,316

5,954
19,111

6.155
17.678

5.664
16.605
1,220

20.2)6

1.491

5,828
19.011
2.149

5.611

1,181

5,541
7,698
1,157

2, 111

6,241
18.4)4
1.185

826
6,887
4,008

485
5.893
3.054

558

511

606
6.251
4.7)2

561

«.«87
4.757

iJ9
5.765
1.623

507

6,007
2,972

6,10)
4,5)2

5.99*
),7II

2.067
5,117
114

4,861
150

2,076
4,122

2,110
5,255

67
96

9,111,585
684,450
25,287,529

41,858

12,096
1,200
25,845

12,594
1,425
33,348

13,082
1,420
23,510

11.490
1,359
11,515

2,856,484
859,590
11,987,980

4,420
426
13,629

4,701
474
12,901

4,491
570
14,317

4,517
586
16,525

1,991
627

2,580,402

2,551

2,115

,912 ,526
20,078, 1 70

1,511

1,511

2,401
1,809

26,977

11,926

2,634
2,041
25,472

1

1,081

26,062

11.996
1.167

4

Rhode laland
South Carolina
South Dakota

1,000,468
1,157,969
1,072,664

2,845
1,690
567

616

1,642
586

Tenneaaee
Te»ae

2,592,496
8,124,613
969 ,954

5,561
19,691
1,423

5,458
19,356
l,J58

5,999
19,155
1,619

287,249

843
29,180
1,954

339
5,868
3,687

611

622

1,121,148

5.885
4,528

5,691
1,194

2,228,679
4,665,601

2,271

2,451

4,825

4,658

2,474
4,110

2,626
5,111

2.144
4.516

2,119
5,210

160 , 122

151

126

178

2,574
5,138
161

184

114

282

2,597
4,192
179

141,671
146,227
16,659

55

59

57

86

96

85

114

117

61

70
107

182
91

101

79

114
61

94
94
106

118
161
25

5]

-76,122

-28,561

+17,000

-26,078

-11.591

222,926,604

245,580

241,784

300,581

271,798

254,176

Ut ah

Vermont
VI rglnla
Waah 1 ng t on
Wcat Virginia
Wlacorialn
WyomI ng

Canal Zone

Puerto Rico
Virgin lalanda
tindlatrlbuted and adjuatnent
to Monthly Statement of the
Public Debt of the United
St atea

Total
Source:
J,/

U

4 ,4 18,

_1/+70,

528

1

1,190
,709

1

1,821

Monthly Statement of the Public Debt of the U.S. and
geographic report* from Federal Reaerve bank*.
Figure* Include exchange* of minor amount* of Serle* P and J bond*
exchanged Into Serlea II bonda from January 1960 through October
1964. Serle* J for H through October 1969, and U.S. aavlng* note*
from February 1972 to date; however, they exclude Serlea K bonda
exchanged for Serlea H.
Exclude* data for period April 1947 through December 1956, when

1,186
1,873
64

5

64

267,194

256,421

1.151

2,652
1.876

660

J.52'4

4,)7a

272

)4I

85
12)

104

107

116
146
87

-49,569

-29,117

*i,ni

-40,270

-)l,«19

242,156

249,667

288. 476

214,476

257. )0i

9)

1)2

In prevlmie l**u** of the Treaeury
report* were not available.
Bulletin, data for Kay 1941 through March 1947 were Included In
"Other Poeaeaainn*," and dara fnr calendar year* 1957 and 1958 were
Included In "Ad}u*tm*nt In Monthly ^tatemant of the Public Debt of
the U.S."
Includea a email amount for other poaaeaelona.

Treasury Bulletin

50
^UNITED STATES SAVINGS NOTES,

U.S.
1970.

savings notes were on sale May

1

,

1967

,

through June 30,

The notes were eligible for purchase by individuals with the

and

information on investment yields of savings notes appear In the

Treasury Bulletins of March 1967 and June 1968; and the Annual Report

simultaneous purchase of Series E savings bonds.

of the Secretary of the Treasury for fiscal year 197A.

The principal terms and conditions for purchase and redemptions

Table SN-1.

-

Sales and Redemptions by Periods
(In millions of dollars)

Sales 1/

Accrued
discount

Sales plus
accrued
discount

__^_^^^

Sales
price

Fiscal years:
1967-1970

Amount
outstanding

Redemptions 2/
Accrued
discount

November 1982

31

•OWNERSHIP OF FEQKJLAL SECUUTIKA.
Table OFS-1. - Distribution of Federal SacjixitlM by

Claae

Uveetori aad Type

of

of

IttaM

(In mllllona of dollars)

End of
fiscal year
or month

Total
Federal
securities
outstanding

Interest-bearing public debt securltlta
Total
outstanding

Nonaarketablc

Marketable

1974
1975
1976

T.q
1977
1978
1979
1980
1981
1982

1981-Sept
Oct
Nov
Dec
1982-Jan
Feb
Mar
Apr

May
June
July
Aug
Sept

473,238
532,122
619,254
633,560
697,629
766,971
819,007
906,402
996.495
1,140,883

138,206
145,283
149,611
146,105
155,490
167,973
187,683
197,743
208,076
216,404

21,229
20,475
18,353
16,640
14,619
13,886
11,379
10,078
9,016
7,944

114,921
122,752
129,202
127, 4p9
138,816
152,031
174,248
187,665
199.060
208,468

1,003,942
1,011,111
1,019,324
1,034,716
1,043,817
1,053,325
1,066,393
1,070,734
1,076,798
1,084,658
1,094,628
1,114,214
1,146,987

996,495
999,451
1,011,936
1,027,300
1,032,678
1,042,198
1,059,815
1,064,538
1,066,410
1,078,431
1,083,296
1,108,131
1,140,883

208,076
204,872
202,145
203,262
202,844
201,102
202,456
204,269
206,689
211,749
206,302
205,839
216,404

9,016
9,010
8,746
8,669
8,670
7,451
8,001
8,001
7,583
7,994
6,882
7,295
7,944

199,060
195,862
193.399
194,593
194,174
193,651
194,455
196,268
199,106
203,755
199,420
198,544
208,460

Interest-bearing public debt securities

254 548
302 ,090
375,197
391 ,028

1977
1978
1979
1980
1981
1 982

437,423

587 ,948
664 089
790 , 086

164,862
210,382
279,782
294,595
326,674
355,501
379,856
453,717
549,863
682,085

981-Sept
Oct
Nov
Dec
1982-Jan
Feb
Mar
Apr

664 ,089
672 , 1 80
683,252
693 ,084
702 , 101
715 ,686
731,770
726,012
730,314
739,677
744 354
759,434
790 ,085

549,863
558,169
569,534
580,670
590,139
504,571
619,030
613,575
518,698
528,996
534,556
661,274
682,085

,

1976

T.Q

484 ,234

515,866
,

1

May
June
July
Aug
Sept

3/

— Con.

Held by private investors

Marketable

197 5

Governaent
account aerlea

486,247
544,131
631,385
646,379
709,138
780,425
833,751
914,317
1,003,942
1,146,987

End of
fiscal year
or month

1974

Public
Isauca
held by
Federal
Reserve
banka

Held by U.S. Governaent accounts

,

Nonmarketable

89,685
91,708
95,415
96,433
110,750
127,733
136,010
124,231
114,226
108,001
114.226
114.012
113,718
112.414
111.962
111,015
112,740
112.437
111.615
110,681
109.798
108,160
108,001

Includes a nonmarketable Federal Reserve special certificate for $2,500.
Adjusted to exclude non-interest-bearing notes issued to the International
Monetary Fund to reflect the unified budget concept.
For detail, see Table FD-5.
Less than $500,000.

Matured
public
debt
and debt
bearing no
Interest 2/

997
1,067
1.179
1.142
1.211

4,573
7,512
1,299
1,360
1,151

1,360
5,591
1,367
1,429
5,700
6,009
1,484
1,121
5,339
1,198
6,321
1. 101

1,151

Other
2,056
2,056
2,056
2,056
2,056
2,056
2,056

80.465
84,749
94,446
96,427
J./104,715
114,764
115,458
120,711
124,330
134,393

124,330
122,399
126,539
130,954
127,733
125,410
125,589
134,257
129,407
127,005
132,640
132,858
134,393

Agency eccurities
Total
outstanding

Held by
U.S. Governsent
accounts and
Federal Reserve
banks

Held by
private
Investors

12,012
10,943
10,953
11.678
10,298
8.881
7.232
6,616
6,086
4,952

2,152
2,186
2,223
2,222
2,094
1,705
1,614
1,605
1,586
1,340

9,860
8.757
8,730
9,456
8,204
7.176
5.619

6,086
6,069
6,021
5,987
5.438
5.118
5,094
5.074
5,050
5.029
5.011
4,981
4,952

1,586
1,586
1,582
1,577
1,298
1,281
1,277
1,275
1.267
1,265
1,264
1,261
1,340

4,500
4,483
4,439
4,410
*,1*0
1,837
3,817
3.799
3.783
3,764
3,747
3,720
3,612

3/

5,011

4,500
3,612

.
.
.

4
3

.
,

Treasury Bulletin

52
.OWNKSSHIP OF JEDB&AL SKCUftlTlXA.
Table OFS-2.

-

Estimated Ownership of Public Debt Securities by Private Investors
(Par values 1/ In billions of dollars)

Nonbank Investors
Individuals 3/
End of

month

Total
prlvately
held

Commerclal
banks

Savings bonds
Series
E.EE.H,
and HH

2/

1939-Dec...
1946-Feb. .,
Dec...

1956-June.

,

Dec,
1957-June.
Dec...
1958-June.
Dec...
1959-June.
Dec...
1960-June.
Dec...
1961-June.,
Dec...
1962-June.
Dec...
1963-June.
Dec...

1964-June.
Dec...
1965-June.
Dec...
1966-June.,
Dec...
1967-June.,
Dec...

1968-June.
Dec...

1969-June.
Dec...

1970-June.
Dec...

1971-June.
Dec...

1972-June.
Dec...

1973-June.
Dec...

1974-June.
Dec...

1975-June.

Dec,
1976-June.

Dec,
1977-June.

Dec,
1978-June.

Dec,
1979-June.

Dec
1980-June.

Dec
1981-Jan..
Feb..
Mar..
Apr.
Hay..
June.

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

Dec
1982-Jan.
Feb..
Mar..
Apr.
May..
June.
July.

33.4
231.6
208.1
196.8
199.4
193.5
197.2
197.2
203.7
204.4
210.6
204.5
207.5
205.4
212
211

216
215
217
214
218
213
216.8
209.6
215.5
204.4
219.5
217.0
226.7

12.7
93.8
74.5
57.3
59.5
56.2
59.5
65.2
67.2
61.5
60.3
55.3
62.1
62.5
67.2
65.1
67.1
64.
64.
60.
63.
58.
60.

54.8
57.4
55.5

63.8

303
349
376
409
421
461
477.8
508.6
516.6
540.5
558.2
616.4

59.7
66.0
55.3
56.8
52.6
62.7
61.0
65.3
60.9
67.7
58.8
60.3
53.2
55.6
69.0
85.1
92.5
103.8
102.8
101.4
99.1
93.2
93.5
96.4
100.3
116.0

627.4
639.6
654.6
650.
652.3
651.2
651.
656.7
665.4
677.2
684.6
694.5
707.3
720.8
733.3
727.1
735.2
740.9
749.6

117.2
116.4
117.5
113.5
113.2
113.3
114.2
115.0
112.2
111.3
110.0
109.4
111.4
111.8
114.3
110.1
109.4
117.0
110.0

214.0
221.2
217.2
229.1
228.9
247.1
243.6
261.7
258.9
260.9
255.6
271.0

20.7
137.9
133.6
139.5
140.9
137.4
137.7
131.9
136.2
142.8
150.4
149.2
145.5
142.9
145.2
146.4
149.0
150.7
153.0
154.6
155.0
155.4
156.1
154.9
158.1
148.9
155.8
157.2
160.
158.
164.
164.
166.
167.

181.8
182.8
194.0
200.1
200.6
202.4
215.4
234.1
264.2
283.8
305.7
318.2
359.9
378.7
415.4
423.1
444.1
457.9
500.4
510.2
523.2
537.1
536.9
539.1
537.9
537.1
541.7
553.2
565.9
574.6
585.1
595.9
609.0
619.0
617.0
625.8
623.9
639.6

9.4
63.9
64.1
66.6
65.9
66.3
64.9
64.4
63.7
66.3
69.4
69.7
66.1
64.6
65.8
65.5
65.9
65.9
68.0
68.5
69.5
70.7
71.9
72.8
74.2
70.4
73.5
74.2
75.1
77.3
80.8
81.8
81.2
75.4
73.2
73.2
73.9
75.9
77.3
80.7
84.2
86.8
90.8
96.2
101.6
104.9
107.8
109.0

30.8
30.3
40.9
41.4
41.5
41.6
42.1
42.5
42.6
42.4
42.5
42.9
43.6
44.2
44.6
45.1
46.0
46.7
47.3
47.9
48.3
48.8
49.2
49.8
50.4
50.9
51.1

Other
series 7/

1.9
12.5

13.9
9.4
8.7
7 ,6
6 6

Other
securities

7.5
20.6
20.0
16.3
15.8
17.2
16.7

5 ,9

16.4

5 ,2

16.0
19.3
23.5
24.1
20.5
18.5
19.4
18.8
19.0
18.3
19.8
19.9
20.4
21.3
22.2
22.8
23.9

4 ,5
3 ,5

3 1
2 ,7
2

5

2.2
2.1

1.9
1.6
1.5
1.3
1.2
1.0
.9
.7
.5
.3
.3
.4

.5
.6
.7
.8

114.0
113.2
116.1
120.2
129.2

51.4
51.2
51.1
50.8
51.4
52.5
53.8
55.4
57.1
58.9
59.8
61.4
62.9
65.0
66.9
69.2
71.6
74.0
76.3
78.7
80.3
80.2
79.5
73.1
72.2

134.2
136.2
138.6
138.2
139.9
139.6
139.5
140.2
140.3
141.0
141.6
143.7
144.1
144.7
146.5
145.7
146.2
146.2
146.4

71.1
70.4
70.1
69.5
69.2
68.9
68.7
68.4
68.0
67.7
67.7
67.8
67.6
67.4
67.2
67.0
67.1
67.1
67.1

.3

.7

.7

.6
.6
.6
.6
.5
.5
.5
.5
.4
.4
.4
.4
.4

.4
.4

.4
.4
.3
.3

.3
.3

.3
.3
.3
.3
.3
.3
.3
.3
.3

.3
.3
.3
.3
.3
.3
.3

19.
22.
22.
23.
25.
29.
30.
29.
22.

18.8
17.2
16.2
16.4
16.9
18.8
20.8
21.3
21.3
26.6
29.6
30.5
31.1
29.9
33.3
32.6
36.2

46.8
56.7
62.8
65.5
68.2
68.3
70.3
70.4
70.5
71.5
72.0
73.0
73.6
75.6
76.2
77.0
79.0
78.4
78.8
78.8
79.0

Insurance
companies

5.7

Mutual
savings
banks

Corporations 4/

State
and
local
governments

Foreign
and international
5/

J^ovember 1982

___^_«^.— MARKET QUOTATIONS ON TREASURY SECURITIES.
Current market quotations shown here are over-thecounter closing bid quotations In the New York market for
the last trading day of the month, as reported to the
Treasury by the Federal Reserve Bank of New York.
The

Table MQ-1.
Amount outstanding

33
OCTOBER

29.

1982

aecurltUa listed include all regularly quoted public
marketable
•ecurltlei
Uautd
by
[he
U.S.
Treaaury.
Securities Issued by Federal agencies and guaranteed by the
U.S. Government are excluded.
-

Treasury

Billa

Treasury Bulletin

54
«

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

-

Treasury Notes-Continued

(Price decimals are 32nda)

29.

1982

^^^-^—^^—«

November 1982
MARKET QUOTATIONS ON TREASURY SECURITIES.
OCTOBER

,

Table MQ-3.

-

Treasury Bonds

(Price decimals are 32nd8)
Yield

Amount
outstanding
(millions)

$987

Description

Change
from last
month

55
29.

1982

Treasury Bulletin

56
MARKET QUOTATIONS ON TREASURY SECURITIES, OCTOBER

111

O
cc
cmUJ
OjQ.

00

29,

1982

November 1982
57

AVERAGE YIELDS OF LONG-TERM BON D8,
Table AY-1.

-

Treasury
bonds 1/

Average Yields of Long-Term Treasury. Corporate
and Municipal Bonds by Periods
New Aa
corporate
bonds 2/

New Aa
municipal
bonds

V

Treasury
bonds 1/

New Aa
corporate
bonds 2/

Monthly series

1971

Jan
Feb
Mar
Apr
May
June

5.92
5.84
5.71
5.75
5.96
5.94

7.63
7.54
7.62
7.76
8.25
8.15

July
Aug
Sept
Oct
Nov
Dec

5.91
5.56
5.56

8.24
8.14
7.90
7.72
7.67
7.54

W5.46
5.48
5.62

1972

Jan
Feb
Mar
Apr
May
June

July
Aug
Sept
Oct
Nov

Dec

5.52
5.67
5.66
5.74
5.64
5.59

7.36
7.57
7.53
7.77
7.61
7.53

_4/5.59
5.59

7.72
7.59
7.72
7.66
7.46
7.50

5.70
5.59
5.51

5.63

1973

Jan
Feb
Mar
Apr
May
June
July
Aug
Sept
Oct
Nov
Dec

^/5.96
6.14
6.20
6.11
6.25
6.32

6.53
_4/6.85

6.41
6.25
6.30
6.35

7.61
7.67

7.75
7.70
7.69
7.73
7.97
8.45
8.10
7.97
7.95
8.09

5.40

-

New Aa
municipal
bonds 3/

Treasury
bonds 1/

New Aa
corporate

New Aa

bonds 2/

bonds 3/

averages of dally or weekly series

unlclpal

Treasury
bonds 1/

New Aa
corporate
bonds 2/

N«H Aa

untclpal
bond! )/

Treasury Bulletin

38
AVERAGE YIELDS OF LONG -TERM BONDS

1-

z
LU
o

November 1982

59
—INTERNATIONAL FINANCIAL STATISTICS.

The tables In this section are designed to provide data on U.S.
reserve assets and liabilities and other statistics related to the U.S.
balance of payments and International financial position.

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

Table IFS-2 brings together tatlitlci on llabllltlM to fordgn
official Institutions, and selected llabllltlea to all other far«i|nari,
which are used In the U.S. balance of pajnents atatUttca.
Table
Issued
to
countries

lPS-3 shews U.S. Treasury nonaarketable bonds and notes
official
Institutions
and
other
residents
of
forettn

Table IFS-4 presents a neasure of weighted-average changes la
exchange rates between the U.S. dollar and the currencies of certain
other countries.

Table IF8-1. - U.8. Beserve Assets
(In millions of dollars)

Gold stock 2/
End of

calendar year
or month

1977
1978
1979
1980
1981

Total
reserve
assets 1/

Total 3/

Treasury

(1)

(2)

(3)

19,312

1981-Oct..
Nov.
Dec.
1982-Jan..
Feb..
Mar..
Apr.
May..
June.
July.
Aug.
Sept.
Oct.

.

Treasury Bulletin

60
•

INTERNATIONAL FINANCIAL STATISTICS.

Table IFS-2.

-

Selected Ujl. Liabilities to Foreigners
(In millions of dollars)

Liabilities to foreign countries
Official institutions
End of
calendar
year or
month

Liabil-

1/

November 1982
INTERNATIONAL FINANCIAL flTATI8TIC8
Table IFS-3,
Issued

to

Official

61

^__^_________^__

- Nonmarketable U.S. Treasury Bonds and
Notts
Institutions and Other Residents of
Foreign Countries
(In mllltons of dollars or dollar equlvlant)

End of
calendar
year or
month

Payable In dollar.

Grand

Total

20.

]l]l
'III
"80

Swlcier-

total
ital

land

<1)

1«"

Cermany

(2)

4«

1981

ll-lll
22,656
21.091
15.872

1981-Oct
Nov
Dec
1982-Jan
feb
Mar
Apr
May
June
July
Aug
Sept
Oct

17.203
16.803
15,872
15.872
15,372
15,372
15.131
14.380
13,780
12.819
12,419
11.748
11.748

(3)

19,274

(*)

(i)

17.467

506

??.«'

n:467

2.Z

17,387
14.654
11.791

16.607

630

IJO

14607

47

.

12.191
11.791
11.791
11.791
11,291
11,291
11.050
10,750
10,150

12,191
11,791
11,791
11,791
11,291
11,291
11,050
10,750
10.150

9.750
9,350
9.350
9,350

9,750
9.350
9.350
9,350

(6>

700
:

11,791

Payable in foreign currencies
End of
calendar
year or
month

Total

Cermany 1/

(7)

(«)

1977
1978
1979
1980
1981

1,169

-

1,941

1,595

5,269
6,437
4,081

4,066
5,234
3,622

1981-Oct
Nov
Dec
1982-Jan
Feb
Mar
Apr
May
June
July
Aug
Sept
Oct

5,012
5,012
4,081
4,081
4,081
4,081
4.081
3,630
3,630
3,069
3,069
2,398
2,398

4,553
4,553
3,622
3,622
3,622
3.622
3,622
3,171
3,171
2,610
2,610
1,939
1.939

Note:
For further information, see "Public Debt Operations," Tables
PDO-8 and 9.

±/
1/

SoiCiarUnd 2/

(9)

1,169
346
1,20J
1.20J
459

459
459
459
459
*»»
459
459
459
459

59
*5«
»59
*59

Beginning 1978, indicate, notes publicly Issued to prlvat. Ceraan r..ld«iit.
Beginning 1979, Indicates notes publicly Issued to private SwI.s r..ld«ncs.

..

Treasury Bulletin

62
INTERNATIONAL FINANCIAL STATISTICS
Table IFS-4.

-

Weighted-Average

of

Exchange Rate Changes for the Dollar

(Percent change relative to exchange rates as of end-May 1970)

Trade-weighted average appreciation (+)
or depreciation (-) of the U.S. dollar

Currencies of ^6 main
trading countries 3/

Currencies of
OECD countries 2/
1972
1973
1974
1975
1976
1977
1978
1979

-9.4

-4.

-U.6

-9.
-9,
-4,

-16.0
-10.9
-10.3

-U.6

-I.
-4.

-21.5
-18.4
-15.0
-3.4

198"0

1981

1981-Oct
Nov.

. .

Dec.

. .

May
June. .
July...
Aug
Sept...

-1.2
-5.5
-3.4
-0.8
+3.7
+5.8
+3.5
+5.3
+10.9
+10.3
+11.1
+12.8

Oct. p.

+13.8

1982-Jan
Feb
Mar
Apr.

. .

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, though such
weights do not provide a full measure of individual currencies' relative
Importance In U.S. International transactions because they take no account
of factors other than trade.
The calculations do not purport to represent
a guide to measuring the Impact of exchange rate changes on U.S.
International transactions.

Where:

*

-

jCAfcj/S

•

Xj/ZX)

E
is the weighted average of percentage
changes in the foreign currency cost of
dollars;

X./HX 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:
(EQ3)

E - ((E„ *

Where:

m/m+x)*(-l)l + (E^ * x/m+x]

m/m+x is U.S. Imports as a proportion
of Its total trade with all countries in
the set; and

exports as a proportion of
its total trade with all countries in the
set.

is the weighted average of percentage
changes in the dollar cost of Individual
foreign currencies;

x/nr+x is U.S.

E

M^/IM Is U.S. Imports from country 1, as
a proportion of total U.S. imports from
all countries in the set.

E^

Afc./S is the percent change in the
foreign currency 1 cost of dollars; and

Mj/IM)

i$/fcj is the percent change in the dollar
cost of foreign currency I; and

+ 55.4

+58.9
+63.1
+76.6
+80.3
+84.5
+90.5
+100.4
+103.0
+111.6
+127.5
+132.2

Where:

Equation one is used to calculate a trade-weighted average of changes in
the dollar cost of foreign currencies:

rWS/fCj

+56.7

CEQ2)

The equations used are as follows:

E„ -

+6.6
+21.3
+58.9

Equation two Is useii to calculate a tride-aelghted average of changes In
the foreign exchange cost of dollar.-s:

Exchange rate data used in constructing the indices reported here differ
somewhat from those used In earlier calculations to more accurately
reflect end-of-perlod currency values.

(EQl)

V

vls-a-vis

End of calendar
year or month

2/

3/
p

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.
The currencies of 46 IMF member countries which account for approximately
90 percent of U.S. total trade.
Preliminary.

I

November 1982

65

CAPITAL MOVEMENTS

Background

date.

Data relating to capital aiovenient8 between the United States and
foreign countries have been collected since 1935 under Treasury
regulations pursuant to Executive Orders Nos. 6560 of January 15, 1934,
and 10033 of February 8, 1949, and the International Investment Survey
Reports are filed with Federal Reserve banks by banks,
Act of 1976.
bank holding conqianles, securities brokers and dealers, and nonbanklng
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 monthly Treasury Bulletin.
'

The reporting forms and instructions If 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.
Revisions to the reporting forms are part of
an ongoing effort to ensure the adequacy of the Treasury capital
movements statistics for analysis and policy formulation with respect to
the International financial position of
the United
States and on
movements of capital between the United States and foreign countries.
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

nonbanklng enterprises.
Major revisions of the TIC B-serles forms, filed by banks and some
brokers In the United States, became effective with reports as of April
30, 1978; new data series were
Introduced In the July 1978 Treasury
Bulletin.
Also, effective March 1981, reporting coverage of the Bseries forms was enlarged to Include holdings by brokers and dealers of
certain types of short-term money market Instruments.
Substantial
revisions of the C-serles forms, filed by nonbanklng enterprises, were
effective with reports as of December 31, 1978; the new data series are
shown beginning with the June 1979 Issue.
Revisions of the TIC forms
that affect the format and coverage of the current Capital Movements
tables are noted under "Description of Statistics" below.
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 offices of U.S. banks and business concerns; the
central governments, central banks, and other official Institutions of
foreign countries, wherever located, and international and regional
organizations, wherever located.
The term "foreigner" also includes
persons In the United States to the extent that they are known by
reporting Institutions to be acting on behalf of foreigners.
In general, data are reported opposite the foreign country or
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 generally 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.

There is no separate exemption l«v«l for ch« tomlannual raports.
Banks,

securltlet broken and dtalers, and in som laatancc*
nonbanklng enterprises report Bonthly their tranaacclooa la
stcurldaa
with foreigners; the applicable exemption level Is
$500,000 on ch« traod
total of purchases and on the grand total of tales during th«
wmth
covered by the report.

Quarterly report* are filed by exporters, laporteri, industrial and
concerns,
financial
Institutions other than banks and
brokers, and other nonbanklng enterprises if their liabilities to, or
claims on, unaffiliated foreigners exceed a specified exertion level on
two quarter-end average basis.
a
Effective March 31. 1982, this
exemption level was set at $10 million, up fro« $2 alUIon.
Beginning
December 31, 1978, these flr^ also report for each »onth-end their U.S.
dollar-denominated deposit and certificates of deposit clalaa of $10
million or more on banks abroad.
corBBerclal

Description of Statistics
Section I presents data on liabilities to foreigners reported by
banks, brokers, and dealers in the United States.
Beginning April 1978,
the following major changes were nsde In the reporting coverage: amounts
due to banks' own foreign offices are reported separately; a previous
distinction between short-tem and long-term liabilities was eliminated;
a separation of the liabilities of the respondents themselves from their
custody liabilities to foreigners; and foreign currency liabilities are
only available quarterly.
Also, beginning April 1978, the data on
liabilities were made more complete by extending to securities brokers
and dealers the requirement to report certain of their own liabilities
and all of their custody liabilities to foreigners.
Section 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' claim* held for their own
account and claims held for their domestic custonsers.
The former are
available in a monthly series whereas the latter data arc collected on a
quarterly basis only.
Also, the distinction In reporting of long-term
and short-term components of
Maturity
banks' claims was discontinued.
data began to be collected quarterly on a tlae remaining to maturity
basis as opposed to the historic original maturity classification.
Foreign currency claims are also collected only on a quarterly basis.
Beginning March 1981, this claims coverage was extended to certsln Items
In the hands of brokers and dealers In the United States.
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
The
Information on lending to the public sector of foreign countries.
term "foreign public borrower" encompasses central governments and
departments of central governments of foreign countries and of their
banks, stabilization funds, and exchange
possessions; foreign central
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.

Data pertaining to branches or agencies of foreign official
Institutions are reported opposite the country to which the official
Data pertaining to International and regional
Institution belongs.
organizations are reported opposite the appropriate International or
International
for
Bank
except
for
the
regional
classification
Settlements which Is Included In the classification "Other Europe."

Section III includes supplementary statistics on U.S. banks*
"Hie supplementary data on
liabilities to, and claims on, foreigners.
nonbank foreigners combine selected
to
banks'
loans
and credits
Information from the TIC reports with data from the monthly Federal
Reserve 2502 reports submitted for major foreign branches of U.S.
hanks.
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 April and October issues of

Geographical Classification

the Bulletin.

A number of changes In geographical classification were Introduced
Several
for most Capital Movements tables In the July 1978 Issue.
countries formerly Included In "Eastern Europe" and "Other Latin
American Republics" are now shown separately In the country list as well
as a new category In the "International and regional" grouping for
"Middle Eastern Regional" In view of the proliferation of regional
financial organizations In that area, primarily In the Arab States. The
remaining countries In the categories "Other Eastern Europe" and "Other
Western Europe" were combined into a single "Other Europe" category; and
and
America
"Latin
retltled
was
America"
the
heading
"Latin
Caribbean."
To the extent possible, the statistics for earlier dates
with these revised geographical
have been adjusted
in accordance
categories.

Reporting Coverage
companies.
holding
bank
banks,
from
required
Reports
are
and
brokers
securities
(IBF's),
Facilities
International
Banking
the
including
States,
United
the
dealers, and nonbanklng enterprises in
branches, agencies, subsidiaries, and other affiliates In the United
liabilities,
Entitles that have reportable
States of foreign firms.
claims, or securities transactions below specified exemption levels are
exempt from reporting.

Banks and some brokers and dealers file reports monthly covering
their dollar liabilities to, and dollar claims on, foreigners in a
Twice a year, as of June 30 and December 31, they
number of countries.
to
also report the same liabilities and claims Items with respect
foreigners in countries not shown separately on the monthly reports.
are
Beginning with reports due as of June 30, 1978, quarterly reports
foreign
filed with respect to liabilities * and claims denominated in
Effective January 31, 1982, the
currencies vls-a-vls foreigners.
specified exemption level applicable to the monthly and quarterly
for the
banking reports Is $10 million and Is based on the average
report
report dates during a six-month period, Including the current

Section IV shows the liabilities to, and claims on. unaffiliated
foreigners by exporters, importers, industrial and co^rclal concerns,
other
brokers,
and
and
banks
than
other
Institutions
financial
The data exclude the
nonbanklng enterprises In the United States.
intercompany accounts of nonbanklng enterprises in the United States
with their own branches and subsidiaries abroad or with their foreign
business
reported by
transactions are
(Such
companies.
parent
enterprises to the Department of Com»erce on Us direct investment
United
In
the
Unks
through
held
The data also exclude claims
forms.)
Beginning with data reported as of December 31, 1978. there Is
States.
reporting
liabilities and claims of
financial
the
separation of
are
enterprises from their co«ercial liabilities and claims; and Items
original
collected on a time-remaining basis instead of the prior
somewhat
Increased
reporters
number
of
In addition, the
maturity basis.
in
result of a broad canvass of prospective reporters undertaken
as a
late 1978.

of long-term
Section V contains data on transactions In all typea
by banks and
domestic and foreign securities by foreigners as reported
U.S. Treasury notes.
non»srketable
(except
States
United
the
In
brokers
sad notes, forelgo
foreign series; and nonmarketable U.S. Treasury bonds
"International Financial
currency series, which are shown in the
caver new issues of
The data cover
Statistics" section. Table IFS-3).
and redemptions of
securities, transactions In outstanding issues,
the United State* for
securities. They Include tranaactlons executed in
abroad for th*
executed
foreigners, and transactions
the account of forelgnei
Hi.
domestic cust
account of reporting Institutions and their
dlnct
claaslfled
are
which
transactions
some
Include
data
exclude
data
The
account*.
payments
investments in the balance of
of U.S. corporations.
•ecurlties i..ued abroad by foreign subsidiaries
of payments as Issues of U.S.
some of which are treated In the Ulance
corporations.

on ..curltl.. tr.o..c.lo«.
Th. ..ogr.phJd br..kdo«n of th. d.t.
-I rh.
of th. for.l,n b-r.r. .nd ..Il.r.
•how. th. country of

ddcU.

Treasury Bulletin

64
CAPITAL MOVEMENTS

securities; In the case of outstanding Issues* this may differ from the
The gross figures contain some
country of the original Issuer.
The net figures for total
offsetting transactions between foreigners.
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

_1/

data

published

In

these

sections

do not

cover all

types

of

reported capital movements between the United States and foreign
countries.
The principal exclusions are the intercompany capital
transactions of nonbanking business enterprises in the United States
with their own branches and subsidiaries abroad or with their foreign
parent companies, and capital transact Ions of the U.S. Government.
Consolidated data on all types of international capital transactions are
published by the Department of Commerce in Its regular reports on the
U.S. balance of payments.

Copies of the reporting forms and instructions may be obtained from the Office of Data Management, Of flee of the Assistant Secretary for International Affairs, Department of the Treasury, Washington, D.C. 20220, or from district Federal Reserve banks.

November 1982

65
CAPITAL IfOVIllKNTS

Section

I

-

Liabilities

to

Table CM-I-1.

Foreigners Reported by Banks in the United States
Total Liabilities by Type of Holder

-

(In mllllong of dollarg)

End of

.

66

Treasury Bulletin
CAPITAL MOVEMENTS.
Table CM-I-2. - Total Liabilities by Type, Payable in Dollars
Part A - Foreign Countries
(In millions of dollars)

Official Instltut 1 on si/

End of
calendar
year
or month

ToCal
foreign
countries

U.S.
Treas.
bills 4

Deposits

Demand

Time

_2/

Other forelRners

Bank^
U.S.

Deposits

certltlcates

Other
llabllItles 2/

Demand

(4)

t5)

(6)

Time 2/

Treas.
bills S
certificates

Other
liabilities 2/

(1)

(2)

1977
1978
1979
1980
1981

122.893
164,235
185,164
202,953
r240.289

3.528
3,390
4,671
3,771
r2,581

1,797
2,560
3,050
3,612
4,146

47,820
67,415
47,666
56,243
52,389

12,677
17,376
22,819
22,997
rl9,845

10,933
11,257
13,285
14,188
11,614

2,040
1,429
1,667
1,703
8,654

300
422
623
rl.687

29,222
7,126
9,125
11,231
16,560

1981-Sept
Oct
Nov
Dec
1982-Jan
Feb
Mar
Apr
May
June
July
Aug. p

214,724
rl97,336
r207,166
r240,289
r249,011
r252,592
r259,623
r264,435
r271,599
281,910
280,144
288,371
291,600

2,697
2,668
2,459
r2,581
r2,317

1,986
1,692
1,910
4,146
3,686
r4,266
r4,876
5,623
5,769
5,500
6,061
5,749
5,155

50,181
48,867
49,644
52,389
52,306
48,174
47,048
43,850
42,741
43,509
45,824
44,182
44,450

18,187
16,569
19,067
rl9,845
rl8,189
rl8,272
rl8,l44
rl7,911
19,799
19,792
16,608
18,812
18,618

15,199
11,346
12,908
11,614
rlO,580
rlO,300
r9,177
r9,912
r9,700
9,274
9,384
8,765
8,138

1,850
1,616
1,822
8,654
rlO,701
rl3,733
rl8,87I
rl9,301
r21,189
23,403
25,390
26,735
26,275

1,439
rl,579
1,584
rl,687
rl,857
rl,882
r2,218
r2,598
r2,707
2,926
3,872
3,970
4,897

11,749
12,304
13,246
16,560
rl7,635
rl7,302
rl9,061
rl9,802
r20,031
20,500
20,989
22,776
22,742

Sept. p

(3)

r2,l91

r2,046
r2,800
r2,162
3,167
2,800
2,006
2,526

Part B

-

(7)

To own
foreign
offices 2/
(10)

(8)

141

Time

Other
liabilities 2/

(12)

(13)

(14)

7,546
8,353
8,755
9,676
15,958

240
285

58,670
96,844

4.304
4,242
5,087
5,356
5,189

382
474
r699

2,645
3,189
4,418
4,408
4,123

87,809
76,544
80,100
96,844
rl05,430
rl08,345
rl08,893
109,616
rill, 839
117,196
111,363
115,606
118,016

5,447
4,873
5,373
5,189
4,906
4,843
4,745
4,855
r4,518
4,544
4,575
4,833
4,539

13,399
14,266
14,280
15,958
rl6,923
18,564
19,936
r23,540
r26,239
26,518
27,433
29,239
29,461

654
r659
r637
r699
r757
r818
r784
r771
r786
957
1,028
1,167
1.548

4,127
4,354
4,135
4,123
3,723
3,901
r3,823
r3,856
r4,119
4,623
4,817
4,533
5,235

-

37,311
63,817

(11)

V

U.S.
Treas.
bills &
certificates

Nonmonetary International and Regional Organizations
(In millions of dollars)

Deposits
End of
calendar year

Time 2/

)emand

or month
(1)

1977
1978
1979
1980
1981

3,245
2,607
2,356
2,344
2,721

1981-Sept
Oct
Nov
Dec
1982-Jan
Feb
Mar
Apr
May
June. .
July....
Aug. p..
Sept. p.
.

U.S. Treasury
bills and

Other
liabilities 2/

certificates

1,826
1,980
2,317
2,721
2,148
2,091
r2,050
r2,048
3,039
4,001
4,082
5,073
4,936

Note;
Nonmonetary International and regional organizations Include principally the International Bank for Reconstruction and Development and the
Inter-Amerlcan Development Bank.
Includes Bank for International Settlements.
_1/

(2)

(3)

231

330
260
146
262
249
185
388
262
130
135
209
149
185
300
343
265

139
84
151
85
58

706
201
102
254
541

2,169

60
58
74
58
86

96
184
142

1,421
1,553
1,713
1,860
1,715
1,602
rl,586
1,466
2,130
1,690
2,619
4,027
3,332

76

rl46
r291
471
586
633

453
734

194

2^/

2/
p

(5)

541

217
277
109
142
r25I
1,425
487
328
676

Time deposits exclude negotiable time certificates of deposit,
are Included In "Other liabilities."
Data not available separately prior to April 1978.
Preliminary.
r
Revised.

1,992
1,844
1,859
1,860

November 1982
67
•CAPITAL MOVEMENTS.
Table CM-I-3.

-

Total

Liabilitiee

by Country

(PoBltlon at end of pertod in allUona
of dollar,^

Calendar year

I

Europe :
Austria
Belgium-Luxembourg
Bulgaria
Czechoslovakia
Denmark. ........ ,.,,,,
Finland
France
German Democratic Republic.
Ge nnany
Greece
Hungary
Italy
Netherlands
Norway
Poland
Portugal
Romania
Spain
Sweden
Switzerland
Turkey
United Kingdom
U.S.S.R
Yugoslavia
Other Europe

426
2,490
64

4.357

r6l2
4,271

116

14

no

16

1,093
399
10,547
60
13.105
636

499
456
12,256

55
335
297

617
214

r8,552

6,358

74

r91

62

10,145
670

r7.735
463

56

61

74

7.808
2,361
1,273
130
559

7,621
2,475
1,353

r7,344
2,851
rl.463

7,195
549
99
3,528
2,796

122

376

87
355

286

16

31

91

1,275

114

1.514
1,756
16,952
242

936
rl,549
rl8,93S

1,126
1.430
r21,762
204

23,098
68

376
139
1,211
1,423
22,706
168

r29.039
49

r40,650

41,990

32

681

375
r6,17l

237
r6,n91

70
314
6,163

r2,810
r34,591
r844
rl.573
rl8,397
665
r3,005

r2.489
r44,997
1,463
1,616
r20,326
1,224
2,518

2,009
18,103
224
24.851
53
266
4,071

535

6,940

526

454
3,344
40
17

1,985
41

448
3,040
136
18
517

516

3,128
46
25

458

191

173

9,293
83
6,392
513

8,694

105

4,763
2,979
1,386
40

Au|. p

l^t.

5*5
3,ia«

3,«]0
81
14

452
276
8,215

156
138

45

51

5,796
507
97
5,80]
2,933
1,349
40
376

5,568
559

146

1,153
1,392
24,084
222
44,945
67
320
5,734

Total Europe

551

81
15

128

6,747
2,947
1,650
39

464
126
1.243
1,285

7,788
98
5,477
471
13
6.757
3.138
1,790
43
197
77

1,115
1,111
26,770

25.252
287
47,651

49.222

74
317
6,381

6,260

Wl
73
307

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

1,600
15,296
462
1,010
11,559
468
2,624
13

425
414
76

4,212
499
4,491
383
518
202
4,196

2,191
16,433
732
1,219
13,341
460
3.086
6
371

367
97

4,569
413
5.521
404
495
254
3,185

2,047
44,892
1,420
1.823

23,210
1,125
2,703

2.106
39,759
1,423
1,824
22,648
1.44)
2,703

2,662
42,100
1,410
1,946

23,380
l,I6«
2.640

9

6

6

7

9

7

434
479

465

559
580

528

478
616

619

87

583
104

r7,280
3,233
4,993
r710

r9,660
3,494
4,354

471
368

240

4,246

9,436

rl77
r2,085
r4,05l

r284
r2,379
r4,865
606
r789
566
rl9,083
r2,199
233
r394
373
r786
r3,298
20
474
14,424

754
561

613

100

119

136

130

9,930

9,546
3,841
4,903
994
290
666
9,558

8,656
1.661
6.186
979
457

3,651
5,098
941
282

610
9,409

1,802

Asia:
China:

Total Asia
Africa:
Egypt

Ghana
Liberia
Morocco
South Africa
Zaire
Oil-exporting countries^/..
Other Africa
Total Africa
Other countries:
Australia
All other

50

52

1,394
1,677
532
505
709
8,981
995
217

1,662
2,633
422
730

889
16,390
1,528

Total foreign countries

262

222
502

2,372
5,033
555
722
486
20,079
1,938
227
388

331

347

843
3,918

664
4,153

24

29
369
14,145

544
584

620
19,246
1,868

594
496
19,536
1,716

194
814
757
877

1,201

2,626

26

16

24

286
15,322
406

469
14,476
546

537
13.195
444

597

515

20
450
14,282
502

33,135

42,661

r50,216

r5 1,368

51,582

52,480

51,258

475
46

486
48

361

430
40

405

91

383
48
288

448
40

141

217
59
336

210

28
115
32

37

187

33
296

110
1,635
617

57

27

27

3.540
647

1,395
804

846
716

3,243

5,198

3.188

700
242

968
299

!,229
r202

33

427

314

486
14,307

52

340
25

37
901

1,025

639

571

2.676

2,693

3,757

,177

247

229

,836
255

184

448
388
732

4,034

771

43
195
47
341
25

908
623

3.322
201

3,523

rl,431

284.793

187,077

r244,660

1,241
44

1,661
39
714
262
28

2,064

2.860

21

275

133
694
292

3,064
45
606
355

54
713
297

13

16

II

9

21

5

6

r278,923

290.559

1,157

808
249

38
924
251

20

7

661

Total international
and regional
Grand total

246
2,255
4,665
659

473
919

Total other countries

International and regional:
International
European regional
Latin American regional
Asian regional
African regional
Middle Eastern regional

r20,796
r2,016

245

2,335
4,994

374
796
696

166

138
116

391
r641
592

521

9,244
3,775
5,571
1,079
487
543
9,580

Total Latin America and
Caribbean

Mainland
Taiwan
Hong Kong
India
Indonesia
Israel
Japan
Korea
Lebanon
Malaysia
Pakistan
Philippines
Singapore
Syria
Thailand
Oil-exporting countries I/..
Other Asia

3.262
4I,)I2
1,640
1,762
23,854
1,291
2,490

288,874

7*1

8.804

p

'

68

Treasury Bulletin
.CAPITAL MOVEMENTSi
Table CM-I-4.

-

Total Liabilities by Type and Country, as

of September 30, 1982

Preliminary
(Position In mllllone of dollars)
Total liabilities

Liabilities payable In dollars
To foreign official
Institutions and
unaffiliated foreign banks

Payable
Payable
Country

In

In

dollars

foreign
currencies 1/

Banks*
own 11abllltles

Custody
llabllItles

Deposits
Denand

Time 2/

Shorttern U.S.
Treasury
ob 1 1 gatlons
C8)

Europe:
Austria

551

Belgium-Luxembourg
Bulgaria
Czechoslovakia
Denmark
Finland
France
German Oenocraclc Republic.
Ceraany
Greece
Hungary
Italy
Netherlands
Norway
Poland
Portugal
Romania
Spain
Sweden
Switzerland
Turkey
United Kingdom
U.S.S.R
Yugoslavia
Other Europe
Total Europe

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

3,430
Bl

K
156
338

7,788
98
5,477
471
33

6,757
3,138
1,790
43
397
77
1,115
1,331

537
3,259

283
1,890

254
1,369

81
14
149

78

3

328
7,730
98
5,306

1,774
43
386

16

20

26,770

26,537

233

301

301

49,222

6,260

48,391
47
307
6,260

116,020

114,255

12.184

11,584

3,262
41,312
1,640

3,245
41,035
1,519
1,760
23,275

73
307

1,762

23,854
1,293

2,490
7

1,292
2,487
7

521

521

639

639

120

120

8,656
3,663
6,186
979
457

8,369
3,615
5,972
968
456

743

8,804

743
8,534

2.739

2,733

109,129

107.292

255
2,492
5,059
411
437

254
2,490
4,944
407
436

37

37

310
14,629

310
14.589

Total Asia

51,554

51.115

386
113
155
345
20
1,703

385
113
155
63
344
20
1,703

3,820

3,820

84
719
299

719
299

10

10

594

584

19,159
1,898

18,906
1,894
226
332
288
709
4,710

227
332

288
712

4,716

:

63

Total Africa

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

84

4

4

4,936
301,185

4.936

296,536

142
129

199

5,416

2,313

98
1,869
338
29
3,319
1,778
387
36
376
73

77

Mainland
Taiwan
Hong Kong
India
Indonesia
Israel
Japan
Korea
Lebanon
Malaysia
Pakistan
Philippines
Singapore
Syria
Thailand
Other Asia

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

144

1,095
1,324

Asia:
China;

Africa
Egypt
Ghana
Liberia
Morocco
South Africa
Z.ire
Other Africa

14

10
59

47]
33

6,713
2,994

83
216

7

831
27

1,026
537
7,808
299

44,170
43
303
3,585

7

*

3,437
133
4

320
43
475
67
27

3,394
1,216
1,387

348

7

28
67
22
187

10
4

69
787

18,729

180
51

229
585

2

136

4,222

515
40
85
85

3

4

2,675

134

Liabilities to
banks
own
Other
foreign
llabll- offices
Itles

Liabilities to
all other foreigners
Deposits
Demand

Shortterm U.S. Other
Time ^/ Treasury llabilobllgaItles
tions

Menio-

randum
Negotiable
CD's held
for all
foreigners
(15)

November 1982

69
.CAPITAL lIOVEltENTS,

Section

II

-

Claims on Foreigners Reported by Banks in the United States
Table Cli-II-1. - Total Claims by Type
(Position at end of period In BlUtonn of

Mar.

1/

doUam)

Sept.

Type of claim

Total claims
Payable In dollars
Banks' own claims on foreigners
Foreign public borrowers
Unaffiliated foreign hanks
Deposits
Other
Own foreign offices
All other foreigners

Claims of banks' domestic customers
Deposits
Negotiable and readily transferable Instniments
Collections and other

Payable In foreign currencies
Banks' own claims on foreigners
Claims of banks' domestic customers
Memoranda:
Claims reported by IBF's_2/
Payable in dollars
Payable In foreign currencies
Customer liability on acceptances
Claims with remaining maturity of 1 year or less
On foreign public borrowers
On all other unaffiliated foreigners
Claims with remaining maturity of more than 1 year
On foreign public borrowers
On all other unaf f ilj.ated foreigners

203,860

215,542

221,025

236,005

r251,299

196,695
172,587
20,840

210,904
179,837
21,122

216,294
184,246
21,365

231,959
197,924
23,192

r246,972
r2II,268
r25,265

8,2 54

41,914
65,084
36,495

7,263
39,203
74,920
37,329

9,818
40,360
75,192
37,511

11,827
44,161
79,827
38,917

rI3,703
45,601
88,439
r38,259

26,106
885
15,574
9,648

31,067
850
19,461
10,756

32,048

34,035
763
23,765
9,507

35,704
992
25,297
9,415

5,168
4,206
962

4,638
4,194
444

4,731
4,287
444

4,046
3,699

4,326
4,078

347

248

1,014
20,281
10,753

22,714

•

27,458

10,688
72,618

10,906
70,262

11,260
73,960

12,083
80,529

rl3,2SO
r81,979

10,152
14,047

10,216
13,533

10,416
13,417

11,177
14,309

rl2,6I3
14,956

r292,594

Treasury Bulletin

70
CAPITAL MOVEMENTS.
Table CM-II-2.

-

Total Claims by Country

(Position at end of period In millions of dollars)

Calendar year 1981
Europe:

Austria
Belglum-Luxenbourg
Bulgaria
Czechoslovakia
Denmark
Finland
France
German Democratic Republic
Ceniany
Greece
Hungary
Italy
Netherlands
Norway
Foland
Portugal
Romania
Spain
Sweden
Switzerland
Turkey
United Kingdom
U.S.S.R
Vugoslavl a
Other Europe

206
1,122
22

6i
237
613
r3

1

267
193
,330
rA43
761
,

5,600
rl

,059

A19
708

198

2,902
37
20
145
377

5,635
153

1,690
313
540
3,416
703
259
731

55&

270

Ill

120
1,761

2.371
1 ,420
2 504
479
45,127
r841
1,314
254
,

999
1,878
178

30,523
405
954
228

Total Europe
Canada
Latin America and Caribbean:
Argent tna
Bahamas
Bermuda
Brazil
British Uest Indies
Chile
Colombia
Cuba
Ecuador
Guatemala
Jamaica
Mexico
Netherlands Antilles
Panama
Peru
Trinidad and Tobago
Uruguay
Venezuela
Other Latin America and
Caribbean.

7 ,860
44,222

6,112
34,781

351

341

17,532
22,918
3,810

10,894
15.672
2.029
1,524

2,081
5

5

,613
170
89

1,387
249

22,858

12,741

1,277

836
6,054

1

7,048
1,287

7

,

48

142

854
186

196
562

5,800

140

Total Latin America and
Caribbean
Asia:
China:

Mainland
Taiwan
Hong Kong
India
Indones la.
Israel
Japan
Korea
Lebanon
Malaysia
Pakistan
Philippines
Singapore
Syria
Thailand
Oll-exportlng countries^/,.
Other Asia
Total Asia
Africa:
Egypt

Ghana
LI berls
Morocco
South Africa
Zai re

Oll-exportlng countries
Other Africa

_3/

no
2,912
4,229
166
43S
1,650
28,863
7,544
58

248
2,890
2,407
164

350
1,024

26,529
6,093
82

225
476

194
205

1,917

658
1,342
23
865
2,148

2,312
36

593
2,223
384

281

54,156

45.503

262
39
611
317

163
13

1,203
148
929
762

336
188
748
146
866
585

30
r26

28
45

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

30

*
*

-

r57

r292,594

198

November 1982
71

CAPITAL MOVBUKNTS.
Tabl, CM-II-3 - ToUl Cl.i-. on
For.ig..„ b, T,^
Reported by B.nk. in the U.S. .. „f
J„, 30. 1982

^

Coa.u,

CPoBltlon at end of pgrlod In lllton»
of doIUr»)
Reporting bankt'
Total
claims

Country

Europe:

Austria
Belgium-Luxembourg
Bulgaria
Czechoslovakia

195

De runa rk

Finland
Prance
Cerman Democratic Republic.
Germany
Greece
Hungary
Italy
Netherlands
No rway
Poland
Portugal
Romania
Spain
Sweden
Switzerland
Turkey
United Kingdom
U.S.S.R
Yugoslavia
Ot he r Eu rope

Total Europe

Canada
Latin America and Caribbean:
Argentina
Bahamas
Bermuda
Brazil
British West Indies
Chile
Colombia
Cuba
Ecuador
Guatemala
Jamaica
Mexico
Netherlands Antilles
Panama
Peru
Trinidad and Tobago
Uruguay
Venezuela
Other Latin America and
Caribbean
Total Latin Anerlca and
Caribbean
".

,

,

,

Asia:
China:

Mainland
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
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

:

Total
banks'
own
clalna

tm c1*1m

Clal—

of baoka' doaeat

MeaoranduM
Claims on forelftn public
borrowera and unaffiliated
forelfpierg

Total
On own

clalM

forclRn
office*

payable
In forelxn
currencies

Cuatoaer
liability
00 acceptancea

Payable
In

do 11 are

fore lea
curranetai

...

Treasury Bulletin

12
CAPITAL MOVSMSNTS
Section

III

-

Supplementary Liabilities and Claims Data Reported by Banks
Table CM-III-1.

-

in

the United States

Dollar Claims on Nonbank Foreigners

(Position at end of period In millions of dollars)

Dollar claims of U.S. offices

End of calendar
year or month

1978
1979
1980
1981

1981-July...
Aug.
Sept. ..
Oct..
Nov
.

.

.

Dec.

. .

1982-Jan
Feb
Mar. ...
Apr. . .

Hay
June..
July p.
Aug. p..

U
2/

Total dollar
claims on nonbank foreigners

U.S. -based
banks

U.S. agencies &
branches of for-

eign banks \J

Dollar claims of
U.S. -based banks*
major foreign
brancbes 2J

CI)

(2)

(3)

(4)

102,883
116,809
136,912
165,727

20,399
23,824
28,751
r43,645

13,080
21,651
28,653
r36,653

69,404
71,334
79,508
85,429

47,396
50,314
52,100
53,773
57,888
65,727
64,516
6S,041
70,003
70,564
75,675
78,773
80,127
81,302

32,136
32,136
31,843
31,372
32,472
r43,645
r46,222
r47,857
r49,531
r5I,947
r54,493
57,104
58,641
58,836

29,851
31,120
31,693
31,614
33,236
r36,653
r36,745
r37,545
r38,610
r38,594
r40,879
41,799
41,779
42,012

85,409
87,058
88,564
90,787
92,180
85,429
81,549
r82,639

Beginning December 1981, Includes International Banking Facilities (IBF's)
established by foreign-based banks.
Federal Reserve Board data.

Preliminary.
Revised.

r8 1,862

r80,023
r80,303
79,870
79,707
80,454

November 1982

73
•

Section IV

-

CAPITAL MOVEMENTS,

Liabilitiee

to.

and Claims on, Foreigners Reported by

Nonbanking Business Enterprises in the United States
Table CM-IV-1. - Total Liabilities and Claims by Type
(Posttlon at end of period In wllUonB of dolUra)

.

Calendar year
1979

Sept.

Type of liability or claim

Total liabilities

Payable In dollars
Financial
Commercial:
Trade payables
Advance receipts and other
Payable foreign currencies
Financial

14,952
11,523
3,853

3,362
4,288

3,429
2,515

Cotnmerclal:

Trade payables
Advance receipts and other
Total claims

619
295
28,001

Payable In dollars
Financial;
Deposits
Other
Commercial:
Trade receivables
Advance payments and other

24,998

Payable in foreign currencies
Financial:
Deposits
Other
Commercial:
Trade receivables
Advance payments and other

3,003

10,133
3

,874

10,459
532

1

1

,068
,569

339
26

22.125

u

23.347

.
•

Treasury Bulletin

74
,

CAPITAL MOVEMENTS

Table CM-IV-2.

-

Total

Liabilities

by Country

(Position at end of period In mllHons of dollare)

Calendar year
Sept.

Europe
Austria
:

50

Belglun-LuxeiDbourg

Bulgaria
Czechoslovakia
Denmark
Finland
France
German Democratic
Gennsny
Greece
Hungary
Italy
Netherlands
Norway
Poland
Portugal
Romania
Spain
Sweden
Switzerland
Turkey
United Kingdom
U.S.S.R
Yugoslavia
Other Europe

424
*
1

37
9

449

Republic

1

664
38
1

201

475
24
4
9

22
159
99

499
56

2,363
Ill
28
26

Total Europe

5,747

Canada .

718

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

:

125
454
93
81
151
11

40
*

?7
9

17
164
50
45
51

17
15

325

Total Latin America and
Caribbean
A3 ta r

China;

Mainland
Taiwan
Hong Kong
India
Indonesia
Israel
Japan
Korea
Lebanon
Malaysia
Pakistan
Philippines
Singapore
Syria
Thailand
011-exportlng countries 2^.
Other Asia
Total Asia

47
151

70
27
67
73

1,158
42
3

14

19
99

220
3

56
1,524
^

43^

3,616

Africa
Egypt
Ghana
Liberia
Morocco
South Africa
Zaire
:

40
4

6

166
45

8S

OU-exportlng countries 2^Other Africa

311
53

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

>

125

-

125

12,807

61

November 1982
75
CAPITAL UOVKUBNTS
CM-IV-3.

Table

Total

Liabilities

by Type

and Country ai of Ju ne

(Position In

Country

lUlona

Total
liabilities

30,

1982,

Prtliminary

of dollara)

Financial llablUtlas

Payabla
In dollara

Coaarclal
llabllltlas

Payabla
lo foralga
curranclaa

Europe:

Austria

29

Belglura-Luxembourg
Bulgaria
Czechoslovakia
Denmark
Finland
France
German Democratic Republic.
Germany
Greece
Hungary
Italy
Netherlands
Norway
Poland
Portugal
Romania
Spain

21

*

47
•

1

22
33

1,188

1

5

17

*

531

1S6

21

896

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

439

ii

3

2

a

A88
750

503

76

Sweden.

Total Europe

546

175

437
42

5

4)6

42

247
58

2

52

2

18
*

58
49

2
*

460
I

I

159
73

26
e

1,073

661

18

*

3.876

3,027

56

49
2'

1

482

2,466

a

17

•49
14

12
25
,

9,456

II

2_

Peru

Trinidad and Tobago
Uruguay
Venezuela
Other Latin America and
Caribbean

,

,

16

5,795

4,361

84

56

56

1,023

1,003

944

10

109

7

7

102

85
859
32

24

24

62

858

858

9

44

26

9
26

1.

434

1,875

Latin America and Caribbean:
Argent Ina
Bahamas
Bemiuda
Brazil
Brlstlsh West Indies
Chile
Colombia
Cuba
Ecuador
Guatemal a
Jamaica.
Mexico
Netherlands Antilles
Panama

133
65
412

561

14

Canada

3J
657
20

3.661

ljU6
27

1

2J

*

*

a

17
•

28
19

16

16

II

16

16

5

1

1

4

810

83
170
146
9

8}

727
33
(
54

202
154
64
56

1

3

170
143
9

54

1

13

U

II

2

319

100

too

219

Total Latin America and
Caribbean

2.540

Asia:
China:

Mainland
Taiwan
Hong Kong
India
Indonesia.
Israel
Japan
Korea
Lebanon.
Malaysia
Pakistan
Philippines
Singapore
Syria
Thailand
Other Asia

22

22

200
167
36
126
140

1,400
256

4
60
1

197
107
35
125
132

3

42
I

1

I

7

7

340

107

l.0«0
255

4

4

130

110

11

II

55
127

50
116

5

12

•
1

21

1

I

1,088

67

66

20
1.020

i,;»6

3,784

Total As la
Africa:
Egypt
Ghana
Liberia

114

115

21
4

21
4

Morocco
South Africa
Zaire
Other Africa

13
186

13
187

2

2

394

395

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

124
47
2JJ

:

232
51

283
I.

Total International
and regional

Grand total

*

Leas than $500,000.

9,670

96

10,826

Treasury Bulletin

76
.CAPITAL MOVEMENTS
Table CM-IV-4.

-

Total Claims

Country

by

(PoBlElon at end of period In millions of dollars)

Calendar year
June p

Sept.

Europe :
Austria
Belgimn-Luxeaibourg

Bulgaria
Czechoalovakla
Denaiark

Finland
France

37

38

201

191

235

428

85
245

3

3

7

6

4

7

7

9

53
35

75
49

904

49
277
5

4

11

63
79

41
115

39
103

1,466

1,161

1,115

65
97
1.101
18
798
lOI
13

12

43
787
10

8

9

14

17

Genaany
Greece
Hungary

882

909

997

103

125

711
127

900

103

820
90

7

9

9

6

9

7

Italy
Netherlande
Norway
Poland
Portugal
Romania
Spain
Sweden
Switzerland
Turkey
United Kingdom
U.S.S.R
Yugoslavia
Other Europe

475
293
69
20
76

500
370
74

r760

r758
369

911
360
123

855

21

15

22

25
87
22

799
376
150
46
65

21

390
169
306
39

398
175
297

432

34
421

4,855

6,012

Cerraan

767

Denocradc Republic.

Total Europe

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

:

Total Latin America and
Caribbean
:

23

_2/.

Total Asia

Africa ;
Bgypt
Ghana
Liberia
Morocco
South Af rlca
Zaire
Oil-exporting countries ^/.
Other Af rlcs

Total Africa
Other countriea :
Australia
All other
Total other countries
Total foreign countries....
International and regional
International
European regional
Latin American regional....
Asian regional
African r jlonal
Middle Eaatern regional....
:

Total International
and regional

Grand total

191

346
36

150
96

Canada

Asia
China:
Mainland
Taiwan
Hong Kong
India
Indonesia
Israel
Japan
Korea
Lebanon
Malaysia
Pakistan
Philippines
Singapore
Syria
Thailand
Oil-exporting countriea
Other Asia

85

351
77

97
29

96
25
424
218
411
87
r5,921
63
114

24

85
31

353
278
590

82

279
r503

353
137
52

69

462
230
r515

59

41

39

r5,076

r4,691
49

r4,472

38

69

79

67
69

November 1982

11
.CAPITAL UOVEUKNTS,

Table CM-IV-5.

Total Claims by Type and Coantry ae of

-

June

1982

30,

(Position In Blllioni of dollari)
Financial claim,

Totals
claims

Total
financial
clalaa

Dcnonlnaccd
in dollar*

(2)

Europe:
Austria

D«naalnac«d In
forclin
curr«ncl««

(3)

38
222

Belgium-Luxembourg
Bulgaria
Czechoslovakia
Denma rk
Finland
France
German Democratic Republic
Germany
Greece
Hungary

209

2

1

2

7

7

25

25
58

86

28

,052
22
581

418

28
403

tM
22

147

HO

391
1J«

42
2

2

6

6

Italy

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

378
296
78

24

410
377

SI

78

127

it

49

51

51

86

45

I

13

13

260
79
63

215
4A6
50

12

8

240

79
50

a

13*
3*3
JO
893
5t

13

3,500

4,470
56

78
^6

17

61

9

17

8.864

Total Europe

5.088

Canada
Latin America and Caribbean :
Argentina
Bahamas
Bermuda
Braz 11
British West Indies
Chile
Colombia
Cuba
Ecuador

_
115
30

35

150
3 .822

35
3,792

268
*9S
3.500

42
76

41

75

1

3,487

1,461

26

39

38
13

100
138

9

.783

17

226
419

2

14

61
121

*
7

51

Jamaica
Mexico
Netherlands Antilles
Panama
Peru
Trinidad and Tobago
Uruguay
Venezuela
Other Latin America and
Caribbean
Total Latin America and
Caribbean

34
6
73
274
8
34
49

35

1 1

CuaCentala

88
1.022
90
113

73
274
8
34

11*

49

1

3

32
1*

1

516

134

15

748
82
7*
66
29
13
3«l

376

H.0Q6

Asia:
China:

27
256

27

Mainland
Taiwan
Hong Kong
India
Indonesia
Israel
Japan
Korea
Lebanon
Malaysia
Pakistan
Philippines
Singapore

257
1 ^8
^3

17

14

7

6

186

52
191

191

397

368

29

113

2

115

I

270
1.608
271
26

69

*

*

3

2

1*

2

2

20

18
6

'^'

6

,8
'**

26
34

§ii

Total Asia

'''^^

Africa:
Egypt
Ghana
Liberia

7*
1. 211

\V,
26
66
12

•4
121
8

25
32

1_

848

43

—

'•'
29

'

9

'*

126

Morocco
South Africa
Zaire
Other Africa

^

'^'

'»

ii£—
'^'-

Total Africa

7
9

125

7
9

117

4]

Other countries:
Australia
All other

-^'

32

.22_
^^?

Total other countries

__^0j|66_

Total foreign countries

Less than S500,000.

67
134

50

103

Thailand
Other Asia

Grand total

151

52

sy'=

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

elal
clalaa

80
18.354
103

'

I

xc

''

,,.......

;••

'^°

16,460

30.386

78

Treasury Bulletin
CAPITAL MOVEMENTS'
Section V

Table CM-V-i.

-

TraneactionB in Long-Term Securities by Foreigners
Reported by Banks and Brokers in the United States
Foreign Pnrchasea and Sales of Long-Term Domestic Securities by Typa
-

(In millions of dollara; neRattve ftRures Indicate net sales by foreigners or a net outflow of capital from the United States)

Marketable Treasury bonds and notes

U.S. Gov't corporations and
federally sponsored agencies

Corporate and other securities

Net foreign purchases

Bonds 1/

Foreign countries

Calendar year
or Bonth

Total

(1)

1977
1978
1979
1980
1981
1982-Jan.-Sept. p

1981-Sept
Oct
Nov
Dec
1982-Jan
Feb
Mar
Apr
Hay
June
July
Aug. p
Sept. p

23,600
4,710
2,863
4,898
15,007
13,576
1,251
1,480
1,888
762
1,286
2,313
1,994
1,474
1,019
362
1,977
822
2,329

Official
Instltutlons
(2)

20,377

InterOther
national
foreign- and
ers
regional
(3)

C4)

Gross
foreign
purchases

(5)

Gross
foreign
sales

(6)

Net

foreign
purchases

(7)

Gross
foreign
purchases

(8)

Gross
foreign
sales

(9)

Net

foreign
purchases

(10)

Gross
foreign
purchases

(11)

Stocks

Gross
foreign
sales

(12)

Net

foreign
purchases

(13)

Gross
foreign
purchases

(14)

Gross
foreign
sales

(15)

November 1982

79
•CAPITAL MOVEMENTS,

Table CM-V-3.
(In

-

Net Foreign Trani.ction.

minions

of

in

dolUr.- nes.tlve figure. Indlc.te get ..1..
Calendar year
1982
through
Sept. p

56

-50
-1

4,550
3

377

93

-8
388

-28

Marketable Treaaury Bondi and Not.a b. Country
by

for.Un.r. or

. n..

e..trio. of

c.pH.l fr» ;h« C,'olfd

5f t«i)

.

Treasury Bulletin

80
CAPITAL MOVEMENTS,

Table Clf-V-4. - Foreign Porchases and Sales of Long-Term Secarities,
by Type and Country, During September 1982 Preliminary
iilons Of aoLiarsi

Cross purchases by foretgoers

Total
purchases

(1)

Marketable
Treasury
& Federal
Financing
Bank bonds
& notes
(2)

Gross sales by foreigners

Domestic securlcles
Bonds
Corporate &
of U.S.
other
Gov't
corp. and
federal ly

Foreign
securities

Total
sales

Stocks

Bonds

Stocks

sponsored
agencies
(3)

(9)

Europe:

Austria
Belgium-Luxembourg
Bulgaria
Czechoslovakia

28
346

Denma rk
Finland
France
German Democratic Republic

II

6

191

82

2
,022

Gemany
Greece

193

3

I

2

6

3

211

122

2

1,472

5

15

288

159
5

Hu nga ry

Italy

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

Tota 1

F.U

257
42

33

8

311

293

rope

Canada

Latin America and Caribbean:
Argentina. .................
Bahamas
..>.......,
Bermuda
Brazil
British West Indies
Chile
Colombia
Cuba
Ecuador
Guatemala
Jamaica
Mexico
Netherlands Antilles
Panama
Peru
Trinidad and Tobago
Uruguay
Venezuela
Other Latin America and
Caribbean
Total Latin America and
Caribbean

6
100

29
143

6

Ul
3

240
42

,

25
104
I

,

,

Asia:
China:

Mainland
Taiwan
Hong Kong

,

,

India
Indonesia
Israel

,

67

Japan
Korea
Lebanon
Malaysia
Pakistan
Philippines
Singapore
Syria

713

25
775

28
532

519

,

,

,

,

,

,

,

Thai land
Other Asia

,

Total Asia
Africa:
Egypt

Ghana
Liberia
Morocco
South Africa
Zaire
Other Africa

,

Total Africa
Other countries :
Australia
All other
Total other countries

,
,

,

,

,

,

,

,

,

Total foreign countries....
International and regional:
Internat lonal
European regional
Latin American regional
Asian regional
African regional
Middle Eastern regional
Total International
and regional

Grand total

l

569
31

i

20

.843

13

25

66

10

610

Marketable
Treasury
& Federal
Financing
Bank bonds
& notes

6
109
6

Domestic securlcles
Bonds
Corporate &
of U.S.
other
Gov't
corp. and
Bonds
federally
Stocks
sponsored
agencies
Cl'i)

Foreign
securities

November 1982

SI

CAPITAL MOVEMENTS^
Table CM-V-6. - Foreign Purchaaee a.d
S.l« of Loni-T.rm Secaritie..
by Type and Country, Daring Calendar
Year 1981
(In tnllllQ

Cross purchaaes by fortlgnera
I

Domestic securities

Country

Marketable
Treasury

Total
purchases

& Federal

Financing
Bank bonds
& notes
(1)

Europe
Austria
Belgium-Luxembourg
Bulgaria
Czechoslovakia
Denmark
Finland
France
German Democratic Republlc><
Germany
Greece
Hungary
Italy
Netherlands
Norway
Poland
Portugal
Romania

(2)

Bonds
of U.S.
Gov't
corp. and
federally
sponsored
agencies

Corporate
other

Forelffl

Hsrket-

abU

&

Bonds
Bonds

Stocks

Total
sales

Treasury
& Federal
Financing
„
Bank bonds
& notes

Stocks

(3)

(6)

(7)

(9)

Bonds
of U.S.
Gov't
corp. and

Spal n

Sweden
Switzerland
Turkey
United Kingdom
U.S.S.R
Yugoslavia
OC hec Europe

102

227
267

139
177

r5,446

1,034
-

1

9,499
160
-

13

5

1,737
169

301
*

3

331

17

17

r450

867
r8.993

1

*

*

r36,399

14 ,134

rl,594

_6.909

rl.471

r34,482

3

r39
rl,155

30
704

12

3
*
1

1

5

*

499
2,063
374

87
832
43

144
*

122

Total Latin America and
Caribbean
Asia
China:
Mainland
:

*

31

r2,483

1.141

7

,169

697

rl3,490

5,718

7
1

14

*

46
60

4

3

28

*

rl ,533

1 ,345

*
3

•

r26.618

rl7,285

r47.692

26.190

Africa :
Egypt
Ghana
Liberia
Morocco.
South Africa
Zaire
Other Africa

r235

r220

Total Africa

329

224

4
2

25

Less than $500,000.

4

4

r269
175

3

22_

r444

55.997

14,378

12,353

145
^b(>
62

20
36

:

"

rl53.099
r

25^

rl3e.-:.49

14.651

Grand total
*

*

*

59

Revised.

^

12.409
68,407

1,666
76

2

1

4

Total international
and regional

3

138
2.963
243

519

298
38
343

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

106

452

4

Total foreign countries

*

29
42
115

95
9

13
24

76

145
123
741

r7,543
90

*

rS59
r3,672

2

873

I

922
138

260
514
674

4

Total other countries

493
266

r4,228

20

27
56

Other countries :
Australia
All other

48
36
606

2*7
.509

368
676
r9,674

BrasH

Total Asia

6

62

-

165

r3,087

,

Taiwan
Hong Kong
India
Indonesia. •••
Israel
Japan
Korea
Lebanon
Malaysia
Pakistan
Philippines
Singapore
Syria
Thailand
Other Asia

112

867

I

1.109

Total Europe

British West Indies
Chile
Colombia
Cuba
Ecuador
Guatemala
Jamaica
Mexico
Netherlands Antilles
Panama
Peru
Trinidad and Tobago
Uruguay
Venezuela
Other Latin America and
Caribbean.

9

10
213

*

*

Latin America and Caribbean :
Argentina
Bahamas
Bermuda

15

25
22

5,7U

1

Canada

26
100

1,339

*

252
466
568

3

r7.796

14,748

.securities
Corporate 4
other

federally
sponsored
agencies
(10)

:

265
2,631

by for>lii>ars

Do—s tic securities
Foreign
securities

.

(12)

(I*)

,

,

82

Treasury Bulletin
FOKEIGN CURBENCY POSITIONS

Background
Data

positions of
Chose

banks and

foreign

of

majority-owned
firms.

report

the

collected

been

have

197^

since

nonbanking firms

branches,

foreign

subsidiaries

the United

In

majority-owned
of

foreign

the

on

and on

States,

partnerships

foreign

banks

U.S.

currency

and

,

Reporting has been required pursuant to title

U.S. dollars held abroad.
II of Public Law 93-110,

September

an amendment to the Par Value Modification Act
and

Treasury

of

original

the

maturity

Instrument

the

of

"Spot" means due for receipt or delivery within

days from the date of the report.

2

business

"Short-term" means maturing In

1

year

or less from the date of the report.

nonbanking

and

Reports cover eight major foreign exchange market currencies and

regardless

,

Involved.

"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

percent

50

profit

interest.

"Majority-owned

foreign

regulations.

subsidiaries" are foreign corporations in which one or more nonbanking

Statistics on the positions have been published monthly since March 1977

business concerns or nonprofit institutions located in the United States

beginning with data for December 1975.

directly or Indirectly own stock with more than 50 percent of the total

of

21

The report

1973,

,

forms

implementing

and instructions used

collection of bank

the

In

data were revised effective with reports as of November

1978, for the

1,

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.

weekly reports, and as of October 31, 1978 (the last business day of the
month),

for

monthly

the

reports.

nonbank foreign currency forms
last

The

below)

(see

September 1978,

business day of

most

revision

recent

of

the

of

the

became effective as

Among the changes on the forms

the Belgian franc was deleted as a reporting currency.

Bulletin,

from

publication

with

beginning

May

the

The exemption level applicable to banks and banking Institutions is
$10 million

equivalent.

exemption level applicable to nonbanking

The

business concerns and nonprofit institutions was $1 million equivalent

The monthly tables for all eight major foreign currencies have been

deleted

Reporting Threshold

Treasury

1982

All tables for the Italian lira and French franc were also deleted.

on

nonbank

all

forms

from March

1975

through November

1976.

was

It

raised to $2 million equivalent on the monthly reports of positions held
In

United

the

States

from November

1976

through September 1978.

The

exemption level was raised to $3 million on foreign subsidiary positions
on

Coaanon Definitions and Concepts

June

31

and

1977,

,

for

positions

held

entire

foreign

United

the

in

States

on

September 30, 1978.
The term "United States" means the States of the United States, the

District of

Columbia,

the Commonwealth of Puerto Rico,

the Canal Zone, Midway Island,

Firms

American Samoa,

the Virgin Islands, and Wake Island.

term "foreign" means locations other than the "United States."

The

The term

"worldwide" Is used to describe the sum of "United States" and "foreign"

must

report

their

currency

position

in

a

specified foreign currency if a specified U.S. dollar equivalent value
is

reached

bought

and

any category of assets,

in

sold,

or

the

net

position

liabilities,
in

the

exchange contracts

currency.

In

general

exemption levels are applied to the entire firm in the United States and

data.

separately to each foreign branch or subsidiary.
Data

for

the

proprietorships,

including

the

concerns,

in

agencies,

United

States

partnerships,
U.S.

the

branches,

branches
case
and

of

and

and

Include

corporations
subsidiaries

"nonbanking

subsidiaries

foreign banks and banking

reported

amounts
in

firms"

located

the

In

United

foreign

of

sole

by

States

nonbanking

positions,"

and

the

United States

the

of

institutions, in the case of the weekly and

In reports on their

foreign branches, majority-owned foreign partnerships and majority-owned

foreign subsidiaries, U.S. banks and nonbanks are required to report the
U.S.

and

dollar-denominated assets,
sold,

and

subsidiaries

net

with

positions
reportable

exchange contracts bought

liabilities,
of

branches,

those

positions

In

the

partnerships,

specified

and

foreign

currencies.

monthly "bank positions."

by

Data

for

the

branches,

"foreign branches" and "abroad" Include amounts reported

majority-owned

partnerships

and

subsidiaries of U.S. banking and nonbanking concerns.

In general,

these

data do not reflect the positions of foreign parents or foreign parents'

subsidiaries located abroad except through Intercompany accounts.

The

data Include the foreign subsidiaries of a few foreign-owned U.S. -based
corporations.
Assets,

Description of Statistics

majority-owned

Data collected on the Treasury foreign currency forms are published
In the Treasury Bulletin in seven sections.
a

summary

reported.

of

worldwide

Sections

foreign currency.

II

net

through

positions
VI

each

and

foreign

exchange

contract

reported on the basis of time remaining to maturity as of

data

are

the date of

all

present

of

data

currencies

the

on

a

specified

Section VII presents the U.S. dollar positions of the

foreign branches and subsidiaries of U.S.
liabilities,

The first section presents
in

firms which are

report in one or more of the specified foreign currencies.

required to

November 1982

83
FOREIGN CURRENCY POSITIONS.
Section I - Summary Positions
Table FCP-I-1.

-

Nonbanking Firms"

Positi ona

1/

(In millions of forelf^n currency unlt«)

Report
dace

Canadian
dollars
(1)

1982-Mar.
June.

r7,718
9,625

German
marks

Japanese
yen

(2)

(3)

r429
5,059

-31,978
49,977

Table FCP-I-2.

-

Canadian
dollars
(1)

01/06/82*

(4)

r-628
-780

Weekly Bank Positions

(In mllHons of foreign currency units)

Report
date

Swiss
francs

British
pounds
(5)

630
81

U.S.
dollsrs 2/
(6)

r-S.7*l
-814

Treasury Bulletin

84
,

FOREIGN CURRENCY POSITIONS

Section

-

Canadian Dollar Positions
Table FCP-II-1. - Nonbanking Firms' Positions
II

(In millions of Canadian dollars)

y

November 1982

85
FOSBIGN CURRENCY POSITIONS
Section

Table

III

FCP-III-1.

at end
of

month

Liquid
assets

(1)

Jan.

1982*

Feb.

1982**...

Mar.
Mar.

1982.
1982.

Mar.

1982.

Apr.

1982.

May

1982.

June
June

1982.
1982.

June

1982

727
n.a.

4,474
219

4,124

Shortterm
2_/

debt

(2)

V

Short-term trade
Receivables 4/
(3)

-

1/

(In millions of marks)

,

Position

German Mark Positions
Nonbanking Firms' Positions

-

Other
assets ±/

Pay
ables 5/
(4)

Other
llabilItles

(5)

(6)

V

Forward e»ch«nite 8/
Bought

(7)

796

(8)

17,569
573

8,195

Net
potltlon

Sold

(9)

V

Exchange
rate 10/

Poiltlon
held by
offlcea la:

(10)

-9,150

2.3218

United Statee

2,825

2.3940

United State!

Treasury Bulletin

86
FOREIGN CURRENCY POSITIONS,
Section IV - Japanese Yen Positions
Table FCP-IV-1. - Nonbanking Firms' Positions
(In millions of yen)

Po

A/

November 1982

87
FOREIGN CURBEMCY POSITIONS
Section V - Swiss Franc Positions
Table FCP-V-1. - Nonbanking Firms Positions

Po

i,

Treasury Bulletin

88
FOREIGN CURRENCY POSITIONS
Section VI -

Sterling

Positions

Table FCP-VI-1. - Nonbanking Firms' Positions
(In millions of Sterling pounds)

Short-term trade

(1)

(2)

l'

November 1982

89
FOREIGN CURRENCY POSITIONS
Section VII - United 8tate« Dollar Positions Abroad

Table FCP-VII-1.

-

Nonbanking Firms' Foreign Subsidiaries" Positions

i'

(In millions of United State» dollara)

Short-term trade
Position
at end
of month

Liquid
assets 2/

Shorttenn
debt

Receivables 4/

Payables 5/

(2)

(3)

(4)

V

(1)

Forward exchanne 8/

Other
assets 6/

Other
liabilities

Bought

Ret
position 9/

ExChangs
rate 10/

(9)

(10)

Sold

V

(5)

(6)

(7)

(8)

Mar.

1982.

7,389

3,622

10,942

13,711

13,597

20,815

3,816

3,137

-5,741

June

1982.

8,129

3,432

10,959

14,066

14,752

17,332

7,352

7,181

-819

Table FCP-VII-2. - Weekly Bank Foreign Office Positions
(In millions of United States dollars)

ii/

Positions
hsld by
offtcss In:

1.0000

Abroad

.0000

Abroad

I

,
,

,

90

Treasury Bulletin
FOREIGN CURRENCY POSITIONS
FCP-VII

Footnotes to Tables FCP-I through
_5/

_1/

Worldwide net positions on the last business day of the calendar
6/

quarter of nonbanking business concerns in the United States and
foreign

their

branches

have

been

receivables and

Excludes

subsidiaries*

sold

discounted

or

investment

companies'

majority-owned

and

Installment

before

maturity,

fixed assets (plant and equipment)

subsidiaries,

U.S.

,

All

and

current assets other than liquid assets and short-term trade

from

and

,

the

Inventories

parent

or less; includes intracompany trade payables.

year

1

receivables

paper which

majority-owned

their

in

partnerships

Due In

,

foreign

Fixed

intracompany

Includes

date.

accounts

prepayments,

long- terra trade

receivables,

claims,

stocks,

and

Intracompany

and capitalized

financial assets maturing in more than one year

report

assets

(plant

and

bonds,

equipment)

and

other

Investment

parents'

and

long-term

securities.
in

majority-owned foreign subsidiaries are excluded.

leases for plant and equipment.
7^/

_2/

Foreign branches and majority-owned partnerships and subsidiaries

trade

intracompany

Weekly worldwide net positions of banks and banking institutions
in

financial

term

only.

2J

All

United

the

owned

States,

foreign

and

their

includes

long-term

payables

trade
and

liabilities

maturing in more than one year from the report date.

Capitalized

liabilities

,

accrued

expenses,

plant and equipment leases are excluded.

foreign branches and majority-

Excludes

subsidiaries.

liabilities other than short-term debt and shortpayables;

capital

assets

and

8/

liabilities.

Outstanding amounts of foreign exchange which have been contracted
to

received

be

delivered

or

the

in

Excludes

future.

spot

exchange.
_4/

Foreign branches and majority-owned subsidiaries only.

V

Columns (1).(3).(5), and (7) less columns (2),(^),(6). and (8).

SECTIONS II THROUGH VII
10 /
_!/

Positions of nonbanking business concerns In the United States and

foreign

their

subsidiaries.

branches

majority-owned

and

section VII positions of

In

partnerships

Representative

rates

on

the

report

date.

Canadian dollar and

United Kingdom pound rates are expressed in U.S. dollars per unit

and

of foreign currency, all others in foreign units per U.S. dollar.

foreign branches and

majority-owned partnerships and subsidiaries only.
1

1/

Banks

and

banking

institutions

in

the

United

States

foreign branches and majority-owned subsidiaries.
2/

unsettled

Includes

foreign exchange

spot

purchase

contracts,

as

foreign branches and majority-owned subsidiaries only.

well as currency, demand, and time deposits, negotiable and other
transferable financial instruments maturing In

readily
less

from the report date,

other

parties

repayable

1

and Intracompany claims and

Other

demand.

on

year or
loans

12/

Excludes capital assets.

13 /

Excludes capital liabilities.

to

accounts

loans,

receivable, and unaccepted trade drafts are excluded.
1

_3/

Includes

unsettled

intracompany

foreign

spot

liabilities,

other

short-term borrowings due in

1

than

exchange

sales

short- terra

trade

ij/

Includes both spot and forward exchange contracts.

contracts,

payables
15/

Columns (3) and (9) less columns

16/

See footnote 10.

year or less from the report date,

and the current portion of long-term debt.

Other loans, accrued

expenses, and accounts payable are excluded.
r
j*/

Due

In

1

year or

Receivables

and

less;

Includes

installment

maturity are excluded.

intracompany trade receivables.

paper

sold

or

discounted

before

In

Revised.

n.a.

Not available.

(

6

)

and (12).

and

their

section VII,

November 1982

91

FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS
Section

Table GA-II-1.

-

II

-

Federal Credit Programs

Direct Sales and Repurchases of Loans

(In mllllone of dollars)

Housing and Urban
Developnent Dept.

Fiscal year
or month

Export-Import
Bank of the
United States

Total

Repurchases

1974
1975
1976

3,903
7,829
11,666
2,759
7,895
10,54«
11,848
12,469
17,001
14 , 709

T.Q
1977
1978
1979
1980
1981
1982

1981-Sept
Oct
Nov
Dec
1982-Jan
Feb
Mar
Apr

May
June
July
Aug
Sept
*

Less than $500,000.

Repurchases

559

21
21

2

28!

160

104

422
121

399
055
,902

,560
,676

2,128

9

50
711

313

5

206
659

965

,

141

Sales

11

55

12

1,982
1,258
3,674
1,966
2,813
755
475

1,965
536
1,849
170

1,778
117

60

3

Government
National Mortgage
Aasoclatlon

Farmers Home
Administration
Repurchases

2,172
6,415
4,247
1,070
5,445
9,407
10,375
11,463
14,541
12,102

1,105
1,524
1,148
414
2,083
3,355
2,026
4.884
4,539
7,653

1,650
50
450

311

522
55
1,540
1,200

3,540
1,440
2,130
700
475

7

Salea

1,501
1,232

6,963
1,592

2,118
938
1,473
833
2,460
2,321

Repurchases

Small Bualneaa
Admlnlat rat Ion

Repurchaaca

Vatarana
Admlnlatratloo

Sales

209
16)
294
96
3)3
198
173

478

9

261

205
658

443

5

10

1,962
534
1,848

52

168

526

1,776

592

US
57

58

S2
91
55

Rapurchaaaa

30

.

Treasury Bulletin

92
.FINANCIAL OPERATIONS OF
Table GA-III-1.

GOVERNMENT AGENCIES AND

p"^^^^°

Section III - Trust Funds
Service Retirement and Disability Fund

Civil

(In millions of dollars)

Receipts
Fiscal year
or month

Total

U7

Agencies'
contributions

Employees'
contributions

Federal
contributions

1921-73

67,

1974
1975
1976
1977
1978
1979
1980
1981
1982

8,955
11,360
13,099
1,480
16,476
17,598
20,266
24,184
28,169
31,476

19,517
2,277
2,490
2,733
700
2,895
3,141
3,465
3,596
3,880
4,107

25,838
2,777
2,490
2,733
700
2,894
3,140
3,398
3,627
3,880
4,104

7,806
7,904
9,294
11,976
14,292
15,352

1983 (Est.).

34,255

4,431

4,430

16,215

1981-Oct
Nov....

702
715

293

Dec. ...

4,296
642

16,061

368
322
469
278
295
330
335
329
318
410
324
330

31,476

4,107

T.Q

1982-Jan
Feb....
Mar....
Apr. . .
May....
June. .
July...
Aug....
Sept...

Fiscal 1982
to date. . .

711
754
721
750

4,560
780
783

8,598
2,527
4,217
5,136
*

Donations, service credit payments, and other
misc. receipts

Interest and
profits on
investments

November 1982

93

FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND
Table GA-III-2.

-

(In

mlUlong

1937-73
1974
1975
1976

T.Q
1977
1978
1979
1980
1981
1982

1983 (Est.)

1981-Oct
Nov
Dec
1982-Jan
Peb
Mar
Apr
May
June
July
Aug
Sept
Fiscal 1982
to date

Total

2_/

Appropriations

V

Deposits by
States 4/

1/

of dollars)

Receipts
Fiscal year
or month

FUNDS^

Section III - Trast Fands
Federal Old-Age and Survivors Ininrance Truat Fand

Expenditures other than
Net earnings
on Investments

Total 5/

389,645
50,935
58,763
62,327
16,186
71,788
76,811
86,893
100,050
121,572
126,629

340,484
43,465
50,119
52,900
14,259
61,219
66,187
75,678
86,379
107,280
111,997

28,447
4,989
5,898
6,654
1,847
7,676
7,860
8,680
11,229
11,737
12,249

18,522
2,040
2,296
2,349
80
2.282
2.153
1.919
1,885
2,018
1,707

2,192

W154,5D9

124,822

12,954

924

8/15,809

10,420
9,501
10,828
9,427
8,554
12,943
13,391
10,153
12,107
9,085
10,039
10,182

9,323
8,460
8,139
8.598
8,515
10,429
12,656
9,249
10,288
8,013
8,625
9,702

1,004

958
1.443
703
48
2,460
665
834
1,390
1,047
1,308
391

93
84

126,629

111,997

12,249

571

441

450
423
*

611
611

616
557
538
676

674

126
10/ -10
54

70
70
429
25
106
89

1,707

676

Invsfnti

Treasury Bulletin
FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS

94

Section III - Trust Funds
Table GA-III-3. - Federal Disability Insurance Trust Fund

(In millions of dollars)

Receipts
Fiscal year
or month

Total

Expenditures other than investments

November 1982

93

FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS,
Section

III

-

Trust Fund?

Footnotes
Table GA-III-2
Monthly Treasury Statement of Receipts and Outlays of the
Source:
United States Government. Budget estimates are based on the 1983
Budget of the U.S. Government, released February 8, 1982.
Ij Includes transactions under the predecessor old-age reserve account.
2^/ Total Includes military service credits of $393 million FY 1980,
$390 million FY 1981, $534 million FY 1982, and $542 million
(estimate) FY 1983.
For special benefits for the aged: $164 million
FY 1980, $150 million FY 1981, $140 million FY 1982, and $139
million (estimate) FY 1983.
_3/ Includes unappropriated receipts from January 1962 to June 1965.
To cover employees of States and their political subdivision, under
the Social Security Act Amendments of 1950 (42 U.S.C. 418).
_5/ Includes payments for vocational rehabilitation services to Federal
disability Insurance trust fund and social and rehabilitation
service.
6/ Payments are made between the railroad retirement account and
Federal old-age and survivors and Federal disability so as to place
those funds In the position in which they would have been If
railroad employment after 1936 had been Included in social security
coverage (45 U.S.C 228e (k)).

V

Excludes transactions for Investnents In non-Ptderal •«curltl*a.
Includes'lntcr-trust-fund borrowing of SI5»128 llllon.
^/ Includes proposed legislation.
10 / Includes an adjustment to prior aonth reporting.
11 / Construction and equlpaent of office buildings (Public L«w 170,
approved July 31, 1953 (67 Stat. 254)).
12 / Under the Social Security Act, as aaendcd (42 U.S.C. 401 (g) (1)),
for adalnlstratlon of Titles 11 and VII of chat act and rtlattd part
of the Internal Revenue Code (26 U.S.C. 480-482, 1400-1432).
S«*
also footnote 13.
n/ Salaries and expenses of the Bureau of Old-Age and Survlvora
Insurance are paid directly froM the trust fund beginning 1974,
under provisions of annual appropriations act passage of the Social
Security Act Amendments of 1956 (42 U.S.C 401 (g) (1)); previously
these expenses were included in reimbursements to the general
fund.
Beginning July 1966 payments of salaries and cxpcnsas for
Social Security Administration are charged directly to each trust
7_/

_8/

fund.
Less than $500,000.

*

Table GA-III-3

5_/

Monthly Treasury Statement of Receipts and Outlays of the
Source:
United States Government. Budget estimates are based on the 1983.
Budget of the U.S. Government, released February 8, 1982.
1/ Includes payments for military service credits of $118 million for
~ FY 1980 and $130 million for FY 1981, FY 1982 Includes $168 million
for military service credits, and FY 1983 estimates include $174
million.
2/ Includes unappropriated receipts from January 1962 to June 1965.
3/ Public Law 96-403, dated October 9, 1980, provided for a
reallocation of social security taxes between the Federal disability
insurance trust fund and the Federal old-age and survivors Insurance
Current month activity
trust fund, retroactive to January 1, 1980.
includes the new allocation rates for October 1980 reporting and
prior year adjustment from the FDI trust fund to the FOASl trust
fund.
4/ To cover employees of States and their political subdivision under
~ the Social Security Act (42 U.S.C. 418).

^/
7/
8^/

~9/

10/

~*

Includes payments for vocational rehabilitation service beginning FY
1967 and construction and equipment of buildings beginning FY 1967.
Includes proposed legislation.
Excludes benefit payments normally paid In January. These payments
were paid In December 1981 as provision in Public Law 95-216.
Payments are made between the railroad retirement acc(Mnt and
Federal old-age and survivors and Federal disability so as to place
those funds in the position In which they would have been If
railroad employment after 1936 had been Included In social security
coverage (45 U.S.C. 228 e (k)).
For appropriate share of administrative expenses, Including
Interest, paid from the trust fund during the preceding fiscal year
as determined by the Secretary of Health, Education, and Welfare (42
Beginning July 1966 monthly reimbursements are
U.S.C, 401 (g) (1))paid to the Social Security Administration to cover salaries and
expenses Instead of the semiannual reimbursement to FOASl.
Includes Inter-trust-fund borrowing of $11,839 million.
Less than $500,000.

Treasury Bulletin

96

FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS
Section

Table GA-III-4.

-

III

-

Trust Funds

Federal Hospital Insurance Trust Fund
(In millions of dollars)

Receipts
Fiscal year
or month

Total

November 1982

97

FINANCIAL OPERATIONS OF GOViBNMENT AGENCIB8 AND FUNDS
Section

Table GA-III-5.

-

III

-

Trust Funds

Federal Supplementary Medical Insurance Trust Fund
(In mllllona of

doUars)

Receipts

Fiscal year
or month
Total 1/

1967-73
1974
1975
1976

T.Q
1977
1978
1979
1980
1981
1982
1983 (Est.)

1981-Oct
Nov
Dec
1982-Jan
Feb
Mar
Apr
Hay
June
July
Aug
Sept

14,577
3,809
4,336
4 ,980
1,421

7,204
1,579
1,750
1,769
492

7.383
9,045
9,840
10,275

1,987

12,451
17,627

2,186
2,373
2,637
2,987
3,460

7,209
2,029
2,330
2,939
878
5.053
5.386
6.841
6,932
8,747
13,323

2/1'. 284

3.861

357
. 339

Interest
and profits on
Investments

All

Total

other

859

-695

77
104
104

124
152

13,831
3.283

teneflt
payments

4

168
46

5.200
1,401

132

210

229
362
417
409
484

244

360

6,342
7.356
8,805
10,746
13.240
15.559

14,318

648

457

2/17,242

16,556

1,033
1,032
2,536

9

162

29
30
57

,373
1,353
1,357
1 ,601
1,493
1,493
1,431

287
269
525
42
278
284
278
280
294
300
314
310

1.259
1,278
1,304
1,164
1.165
1,358
1,258
1,269
1.363
1,273
1,453
1.416

1,193
1,213
1,254
1,103
1,113
1,297

17,627

3,460

13,323

1

3,280
206
1,344
1

Expenditures other than Investments
Fiscal year
or month

Expenditures othtr than Investments

12,359
2,874
3,765
4. 672
1,269
5,867
6.852
8.259
10.144
12.3*5
14,806

1 ,

Fiscal 1982
to date

Premiums

Federal
contributions

Administrative
expenses

263
291
307

7

ISO

7

7

1,022
1,051
1,035
1,047
1,043
1.151
1,139
1,084

15

28
30
30
22
29
35
32
30

— Continued

Other

8
10
7

236
7

9
7

484

15.559

Net
Increase,
or de-

crease
(-).

4.170

In

assets

Assets, end of period
Invest-

1,201
1,161
1,305
1.220
1,389
1.356

98

Treasury Bulletin
.FINANCIAL OPERATIONS OF

GOVERNMENT AGENCIES AND

"""^""^

Section III - Trust Funds
Table GA-III-6. - Railroad Retirement Accounts
(In millions of dollars)

Expenditures other than Investments

Receipts

Fiscal year
or month

Total
1/

Appropriations
2/

Interest
and profits on
investments

From FOASI
and FDI
trust
funds 3/

All

November 1982
.FINANCIAL OPERATIONS OF

99

GOVERNMENT AGENCIES AND FUNDS

Section

III

-

Tru«t Fundi

Table GA-III-7. - Unemployment Trust Fund
(In mllllona of dollars)

Receipts

Employment security proKram

State
accounts 1/
Fiscal year
or month

Total
Deposits
by
States

Employment
security
administration
account 2/

Federal
Unemployment
Account
Board

Appropriations

3/ 4/

1936-73
1974
1975
1976
T.Q
1977
1978
1979
1980
1981
1982

91,021
7,486
8,195
16,215
3,378
14,986
15,161
15,890
16,195
18,104
20,125

66,838
5,264
5,299
6,404
2,239
9,252
11,032
12,273
11,915
12,366
12,767

1983 (Est.).

23,400

14,253

3,988

4,510

501
1,598
750

550
1,238

2/-113

20

302

122
303

72

27
*

1981-Oct
Nov
Dec. ...

1982-Jan
Feb
Mar
Apr. . .
May....
June. .
July...
Aug ....
Sept...

Fiscal 1982
to date. . .

638
2,402
1,213
2,400
5,128
583
1,283
2,813
816
20, 1:5

1,096
138
1,649
4,113
146
978
2,312
122

9,638
1,454
1,355

8/1 891
-9
785

1,531

7,878
625
3,442
1,045

371

1,875
2,600
2,907
3,246
3,221
3,274

300
636
-55
470
887

1,277
2,710

27

679
1,040
233

31

31
*

314
420

6
34

11

613

3,274

2,710

Insurance

3
1

...

Treasury Bulletin
.FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS,

100

Section

III

-

Trust Funds

Table GA-III-7. - Unemployment Trust

Fund-Continued

(In millions of dollars)

Expenditures other than Investments

— Continued

Assets, end of period

Railroad unemployment Insurance
Railroad unemployment Insurance account
Fiscal year
or month

1936-73
1974
197S
1976
T.Q
1977
1978
1979
1980
1981
1982

Repayment of
advances to
railroad
retirement
accounts

fund 7/

All

other

. .

Dec...
1982-Jan
Feb....
Mar
Apr....
May....
June. .
July...
Aug
Sept...
Fiscal 1982
to date. . .

Investments

decrease
(-),

Unexpended
balance

in

assets

3,516

977

117

50
67

9

7

7

218

9

47
180
197

2
9

11,099
1,328
-5,016
-1,706

11,099
12,428
7,412
5,706
5,545
6,473
10,446
15,131
14,886
14,365
10,208

10,957
12,121
7,183

4,810
4,914
5,987
9,517
13,793

143
206
228
896
631
486
928

8

9
14

28

12

-166
883
3,992
4,717
-245
-635
-4,157

204

16

-294

9,988

9,111

877

22
21
32
36
32
37
30
22
23
23

*

-649

1

338
-1,020
-1,343
328
-1,413
141
3,049
-1,676
-868

13,715
14,053
13,033
11,690
12,018
10,605
10,746
13,794
12,118
11,250
11,812
10,208

12,833
13,275
12,287
11,139
11,404
9,563
9,137
12,927
10,855
10,406

883
778
746
552
614
1,041
1,609
868
1,264
844
668
563

212
258
346

1981-Oct

Net
increase,
or

Administrative
expenses

XI
13

U2

1983 (Est.).
Nov.

Benefit
payments

Administration

2
1

1
2
1
1

-1
1

31
37

28

346

28

Source:
Monthly Treasury Statement of Receipts and Outlays of the United
States Government.
Budget estimates are based on the 1983 Budget of the
U.S. Government, released February 8, 1982.
1/
State unemployment funds used for benefit payments.
Established by the Employment Security Act of 1960, approved September 13,
2/
1960 (42 U.S.C. (a)), into which are deposited tax receipts transferred In
accordance with the act and from which are paid the administrative
expenses of the employment security program and reimbursement for tax
refunds.
Receipts consist of appropriated and unappropriated transfers of
tax collections.
Amounts
represent
3/
excess of collections from Federal unemployment tax over
expenditures for benefits and administrative expenses which excess was
appropriated from the general fund to this account.
(Includes amounts
appropriated to the State unemployment accounts.)
^/
Extended unemployment compensation benefits under the employment security
amendments of 1970 (Public Law 91-373) and the amendments to the Social
Security Act (Public Law 92-224).
Contributions under the Railroad Unemployment Insurance Act of 1938, as
5/
amended (45 U.S.C. 360 (a)), in excess of the amount specified for
administrative expenses.
Temporary advances are made when the balance In the railroad unemployment
6/
Insurance account Is Insufficient to meet payments of benefits and refunds
due or to become due.
Whenever the balance Is sufficient to pay such

_7/

^/

9/
10 /
1

/

12 /
1

/

14 /
*

1

561

2

-1,604

12,711
13,527

9,644

11

,144

9,644

1,338
2,175
838
563

benefits and refunds, repayments are made, plus Interest at 3 percent per
annum, pursuant to an act approved May 19, 1959 (45 U.S.C. 360 (d)).
Consists of specified proportion of contributions deposited in the fund to
be available for administrative expenses.
The railroad unemployment
insurance administration fund was established in the unemployment trust
fund pursuant to the amending act of September 6, 1958; before that the
administration fund was a separate trust fund (45 U.S.C. 361).
Established by the act approved March 24, 1961 (42 U.S.C, 1105 (a)), which
provides for a temporary program of extended unemployment compensation
payments.
Includes adjustment of $366 million of tax receipts previously estimated.
Exclui^es transactions for Investments of non-Federal securities.
Includes payment of $50 million from the extended unemployment account to
the general fund.
Includes $1,029 million transferred to the Department of Labor for grants
to States.
Includes unappropriated receipts.
Includes interest.
Less than $500,000.

November 1982

101

FINANCIAL QPJERATIONS OF GOVERNMENT AGENCIES AND FUNDS
Section III - Trust Fands
Table GA-III-8. - National Service Life Insurance Fund
(In mllllone of dollars)

Receipts
Fiscal year
or month

1944-73
1974
1975
1976

Total

25 ,374

1977
1978
1979
1980
1981
1982

808
835
852
155
913
940
983
1,044
1,104
1,164

1983 (Est.)

1,257

T.q

1981-Oct
Nov
Dec
1982-Jan
Feb
Mar
Apr
Hay
June
July
Aug
Sept

Fiscal 1982
to date

40
39
374
34
43
46
46
38
386
40
41
37

1,164

Premiums and
other receipts

15,143

Transfers from
general and
special funds

Interest and
profits on
Investments

Expenditures other
than Investaents
(benefits, net lending,
refunds, and
dividends)

(-), In

102

Treasury Bulletin
.FINANCIAL OPERATIONS OF

GOVERNMENT AGENCIES AND FUNDS

Section III - Trust Funds
Investments of Specified Trust Accounts in Public Debt Securities
and Agency Securities by Itsaea, as of September 30, 1982

Table GA-III-9.

-

(In millions of dollars)

Investment

November 1982
CUIIULATIVK TABLE OF CONTENTg
December 1981 through November 1982

laaues and page nuBbcr»
1982

Apr.

May

11

Article
Treasury financing operations
:

Federal fiscal operations
Summary of fiscal operations
Budget receipts by source
Chart-Budget receipts by source
Budget outlays by agency
Undistributed offsetting receipts
Budget outlays by function
Investment transactions of Government accounts
in Federal securities (net)
Trust funds transactions
Detail of excise tax receipts
Summary of Internal revenue collections by
States and other areas
:

II
12

11

11

11

11

12

12

12

12

13

13
15

Federal obligations

16

Account of the U.S. Treasury
Status of the account of the U.S. Treasury
Elements of changes In Federal Reserve and tax
and loan note account balances
Gold assets and liabilities of the Treasury
:

Monetary statistics
Currency and coin in circulation
:

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

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

United States savings bonds
Sales and redemptions by series, cumulative
Sales and redemptions by periods, all series
combined
Sales and redemptions by periods, series E
through K
Redemptions of matured and unmatured savings
bonds
Sales and redemptions by denominations, series
E, EE, H, and HH
Sales by States, series E, EE, H, and HH
combined
United States savings notes
Sales and redemptions by periods

27

27
28

36
37

28

30

39

30

32

41

32

35

44

35

39

48

39

41

50

41

42

51

42

44

53

44

45

54

45

45

54

45

46

55

46

48

57

48

:

49
50

:

Ownership of Federal securities
Distribution by class of investors and type
of Issues
Estimated ownership by private investors
:

Treasury survey of ownership
Treasury survey-commerctal bank ownership

51

June

July

Aug.

Sapt.

104

Treasury Bulletin
CUMULATIVE TABLE OF CONTENTS
December 1981 through November 1982

-

Continued

Issues aad page numbers
1982
Apr.

Market quotations on Treasury securities
End-of-month closing quotations
Chart-Yields of Treasury securities

May

June

65
68

63
66

July

Sept.

:

57

60

66
69

64
67

60
63

68
71

64
67

64
67

66
69

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

Exchange Stabilization Fund
Balance sheet and Income and expense
:

National bank reports
Operating Income and expense, and dividends of
national banks, calendar year 1981
:

International financial statistics
U.S. reserve assets
Selected U.S. liabilities
to foreigners
U.S. liquid and other liabilities to official
institutions of foreign countries by area
Nonmarketable U.S. Treasury bonds and notes
issued to official institutions of foreign
countries
U.S. position In the International Monetary Fund
Weighted average of exchange rate changes for
the dollar
:

Capital movements
Liabilities to foreigners reported by banks in
the United States
Claims on foreigners reported by banks In the
United States
Supplementary liabilities and claims data reported by banks in the United States
Liabilities to, and claims on, foreigners
reported by nonbanklng business
enterprises in the U.S
Claims on foreigners reported by nonbanklng
business enterprises In the U.S
Transactions In long-term securities by foreigners reported by banks and brokers in the
United States
:

Foreign currency positions
Summa ry
Canadian dollar positions
French franc positions
German mark positions
Italian lira positions
Japanese yen positions
Swiss franc positions
Sterling positions
United States dollar
positions abroad
:

114

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

118

trust funds

Financial operations of Government agencies and Funds
Government corporations and other business-type
activities:
Statements of financial condition
Statements of income and retained earnings
Status of accounts receivable
Status of loans receivable
Status of other receivables
Federal credit programs:
Direct sales and repurchases of loans
Direct and guaranteed loans outstanding
Trust funds:
Civil service retirement and disability fund...
Federal old-age and survivors Insurance trust
fund
Federal disability Insurance trust fund
Federal hospital insurance fund
Federal supplementary medical insurance
trust fund
Ral Iroad ret Irement accounts
Unemployment trust fund
National service life Insurance fund
Investments of specified trust accounts

119
:

201

205
209
120
121

...
...
...
...
,,.
...
...
...

lOI
102

216

104
105

DEPARTMENT OF THE TREASURY
FISCAL SERVICE. BUREAU OF
GOVERNMENT FINANCIAL OPERATIONS

POSTAGE AND FEES PAID
DEPARTMENT OF THE TREASURY

OFFICE OF THE COMMISSIONER

WASHINGTON,

D.C.

TREAS

-

553

20226

OFFICIAL BUSINESS
PENALTY FOR PRIVATE USE, $300

FIRST CLASS

Take ^^

stock ;
in^^cnccfc
.

Buy U. S. Savings Bonds

^»757

(^

--til