Full text of Treasury Bulletin : September 1966

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TREASUHY DEPARlMENT

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POSTAGE AND FEES PAID
TREASURY DEPARTMENT

Treasury Department

U.S.

FISCAL SERVICE, BUREAU OF ACCOUNTS
OFFICE OF THE COMMISSIONER

WASHINGTON,

D.C.

20226

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UNITED STATES TREASURY DEPARTMENT
OFFICE OF THE SECRETARY

The Treasury Bulletin is for sale by the
Superintendent of Documents,
U. S, Government Printing Office, Washington, D.C. 204.02

Subscription per year $8.50 domestic, fll.OO foreign.
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September 1966

Table of Contents

Page
Treasury financing operations

P7

Summary of Federal fiscal operations

1

Administrative budget receipts and expenditures...

2

Trust and other transactions

11

Consolidated cash transactions

16

Account of the Treasurer of the United States

20

Monetary statistics

23

Debt outstanding

24

Statutory debt limitation

29

Public debt operations

30

United States savings bonds

66

Ownership of Federal securities

70

Treasury survey of ownership of Federal
securities

72

Market quotations on Treasury securities

77

Average yields of long-term bonds

80

International financial statistics

82

Capital movements

86

Cumulative table of contents

111

Treasuri/ Bulletin

II

Reporting Bases
Data on receipts, expenditures, and debt which appear
In the "Treasury Bulletin" are based largely on two Treasury
financial reports, the "Dally State.T.ent of the United States

Treasury" and the "Monthly Statement of Receipts and Expenditures of the United States Government. Where these state-

for actual receipts and expenditures in the "Budget of the

United States Government."

Beginning with the final statement for the fiscal
year i960, the monthly statement reports totals for net
budget receipts and budget expenditures after deduction

aents are given as sources for Individual tables, they are
cited by name only. Their respective reporting bases are

of certain interfund transactions which are included in

described below. For other data In the Bulletin, Information on sources or reporting bases Is given In connection

The transactions deducted consist of Interest payments and

with the tables themselves.

agencies to the Treasury. This reporting change was made In
accordance with the plan stated in the President's Budget

The monthly state.-nent of receipts and expenditures
was first published for February 195^^, and replaced the
dally statement as the primary source of Information on

the detail of both budget receipts and budget expenditures.

minor amounts of certain other payments made by Government

Message of January IS, I960.
or deficit.

It does not affect the surplus

Figures for earlier periods shown in the Treas-

budget results and other receipt and expenditure data
classified by type of account. At the same time, the

ury Bulletin were revised to the new reporting basis in the

dally statement was changed to a statement of cash deposits

under this procedure do not Include payments to the Treas-

the United States.

and withdrawals affecting the account of the Treasurer of
Both publications have provided compar-

ury by wholly owned Government corporations for retirement
of their capital stock and for disposition of earnings.

ative figures on their respective bases from the beginning
of the fiscal year 1953. The announcement of February 17,

These capital transfers have been excluded currently from
budget receipts and budget expenditures beginning July 1,

1954,

with respect to these reporting changes may be found

in the April 1954 issue of the Bulletin.

The monthly statement shows all receipts and expenditures of the Government, including those made from cash

The interfund transactions deducted

September I96O Issue.

and figures for prior fiscal years back through 1932

19^*^,

were revised accordingly at that time.
The daily statement on the new basis was first Issued

for February 17, 195'^» Ih the deposits and withdrawals as
shown, no distinction Is made as to the type of accounts

accounts held outside the United States Treasury. The
information is compiled from reports by the Treasurer of
the United States and by all other collecting and disbursing agencies, including those agencies which maintain
checking accounts in comTiercial banks. These reports cover
transactions recorded in the accounts of the agencies
during the reporting period. The net of the transactions

Treasurer of the United States.

as compiled from these reports is reconciled in the monthly

of checks issued and are adjusted by means of clearing ac-

statement to changes in the balance in the Treasurer's accash held outside the Treasurer's account and

counts to the total of checks paid.

coiint and in

changes in the public debt outstanding.

Receipts of taxes and customs duties are reported on a
collections basis. Other receipts are reported partially
on a collections basis and partially on a deposits basis.
Expenditures, except interest on the public debt, are re-

ported on the basis of checks IssueC or cash payments made

Transactions of an Interfund or
Intragovernmental nature are included on the same basis
even though the actual issuance of checks may not be in-

by disbursing officers.

volved.
Interest on the public debt is Included on an
accrual basis beginning with figures for June 1955 ah<i
the fiscal year 1955.
Prior to that, it was included on
a due and payable basis.

The same reportinj; basis as that

(budget, trust,

etc.

).

The deposits are on the basis of

certificates of deposit cleared through the account of the

Total withdrawals are on

the basis of checks paid or cash disbursements made out of
the Treasurer's account.

Some of the withdrawal classi-

fications shown are reported on the basis of mailed reports

Except for relatively

minor amounts, noncash interfund and other intragovernmental
transactions are excluded. The public debt figures in the

dally statement also are on a "clearance" basis, with the
exception of those issuance and retirement transactions

reported on the basis of telegrams from Federal Reserve
Noncash debt transactions are included, however.

Banks.

The daily statement before February 17, 195'^, covered
not only transactions cleared through the Treasurer's account but also certain Government agency transactions which

were handled through commercial bank accounts,

and Included

noncash Interfund and other intragovernmental transactions.
It provided Information similar to that in the present daily

statement with respect to the status of the Treasurer's account, and similar to that in the present end-of -month daily

and

In the monthly statement provides the fiscal year figures

statement with respect to debt Issuance, retirement,

for the Treasury's "Combined Statement of Receipts, Expend-

amount outstanding.

itures and Balances of the United States Government" and

classified by type of account, and the budget results shown

Receipts and expenditures, however, were

September 1966

III

Reporting Bases
In the dally statement were used as the basis for reflecting
the results under the President's budget program as enacted
by the Congress.

Receipts were on the basis of deposits as they cleared
the Treasurer's account.

Expenditures cleared through the
were reported on two
successive

Treasurer's account
bases. Through l')k6 they were on the basis of checks paid
by the Treasurer of the United States.
Beginning with 19^7,
expenditures made through the facilities of the Treasury

Note:

-

(Continued)

Department's Division of Disbursement were on the basis
of checks issued, while certain others, principally those
of the Department of Defense and its predecessor organizations, were on the basis of checks paid.

Transactions han-

dled through commercial bank accounts, consisting of market

transactions in public debt and guaranteed securities, were
as reported by the agencies.

Interest on the public debt
was Included on a due and payable basis beginning with
November 19^9 and on a checks-paid basis prior to that time.

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

Treasury Balletin

IV

Treasury Financing Operations
Tax Anticipation Bills
On August 11 tenders were invited for $2.0 billion, or

thereabouts, of 208-day tax anticipation bills and for $1.0
billion, or thereabouts, of 238-day tax anticipation bills,

both Issues to be dated August 26, 1966.

The 208-day bills

mature on March 22, 1967, and the 238-day bills mature on
April 21, 1967, but they will be acceptable at face value in

payment of Income taxes due on March 15, 1967, and April 15,
1967, respectively.

Tenders were opened on August 18.

Tenders received for the 208-day bills totaled $2,950
million, of which $2,006 million were accepted at the average

bank discount rate of 5.338 percent.
tive tenders

was $^00,000.

The limit for noncompeti-

These totaled $307 million.

Tenders received for the 238-day bills totaled $1,/V90
million, of which $1,003 million were accepted at the average

bank discount rate of 5.4-33 percent.

titive tenders was $200,000.

The limit for noncompe-

These totaled $158 million.

All bidders for either issue were required to agree not to

purchase or to sell, or to make any agreements with respect to
the purchase or sale or other disposition of any bills of

that

issue at a specific rate or price, until after one-thirty p.m..

Eastern daylight saving time, August 18, 1966.
Any qualified depositary was permitted to make payment by

credit in its Treasury tax and loan account for both issues of

bills allotted to it for itself and its customers up to
any amount for which it was qualified in excess of existing

deposits.

One-Year Bills
On August 18 tenders were invited for $1 billion,

or

thereabouts, of 365-day Treasury bills, to be dated August 31,
1966,

to refund an equal amount of one-year bills maturing on

that date.

Tenders were opened on August 25 and totaled $2,237
million, of which $1,000 million (including $33 million of

noncompetitive tenders) were accepted at the average discount
rate of 5.8^4 percent.

13-Week and 26-Week Bills
Issues of regular weekly Treasury bills in August totaled

$9.2 billion, replacing an equal amount of maturing bills.
There were three 91-day issues and one 92-day issue of $1.3

billion each and four 182-day issues of $1.0 billion each.

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

September i966

Treasury Financing Operations

-

(Continued)

Foreign Series and Foreign Currency Series
Issues of foreign series secxirities in August consisted
of six 3-month certificates of indebtedness totaling $300

million, bears interest at 5.20 percent, is dated August 1,
1966,

and matures August 1, 1967.

The other certificate de-

million, vith interest rates ranging from <+.75 percent to

nominated in Austrian schillings equivalent to |25 million,

Redemptions during the month totaled $350

bears interest at 5.60 percent, is dated August 23, 1966, and

5.10 percent.

million.

At the end of August the outstanding foreign series

Two certificates of indebtedness of the foreign currency
series equivalent to $75 million were Issued in August.

matures August 23, 1967.

Redemptions of matured bonds

amounted to the equivalent of $75 million.

securities totaled $697 million.

Foreign currency

securities outstanding at the end of August were equivalent

One

to $88^ million and were denominated in Austrian schillings,

certificate denominated in German marks equivalent to $50

Belgian francs, German marks, Swiss francs, and Italian lire.

Note:

Details of Treasury market financing operations are shown elsewhere in this issue of the Bulletin in the tables on
public debt operations.

s

.

September i966

SUMMARY OF FEDERAL

FISCAL OPERATIONS

(in millions of dollars)

Administrative budget
receipts and expenditures

Net
receipts

Net
expenditures

Surplus
or
deficit

Net
trust
and other
transactions
1/

Clearing
account,
etc. 2/

Fiscal years:
1950
1951
1952
1953
195i
1955
1956
1957
1958
1959
1960
1961
1962
1963
1964
1965
1966p

36,422
47,4S0
61,227
64,671
64,420
60,209
67,350
70,562
68,550
67,915
77,763
77,659
81,409
86,376
89,459
93,072
104,631

39,544
43,970
65,303
74,L20
67,537
64,389
66,224
68,966
71,369
80,342
76,539
81,515
87,787
92,642
97,684
96,507
106,917

-3,117
-4,180
1,626
1,596
-2,819
-12,427
1,224
-3,856
-6,378
-6,266
-8,226
-3,435
-2,286

1967(Est,)

111,000

112,847

-1,847

37,235
52,877
64,705
63,654
60,938
63,119
70,616
71,749
68,262
72,738
79,518
78,157
84,709
87,516
88,696
96,679

37,657
56,236
70,547
72,811
64,622
65,891
66,838
71,157
75,349
79,778
77,565
84,463
91,907
94,138
96,945
101,378

-422
-3,358
-5,842
-9,157
-3,683
-2,771
3,779

6,653
10,072
3,398
7,037
8,856

8,083
8,450
8,329
7,051
8,770

7,676

Mar
Apr
Vaj
June

5,642
7,518
11,188
8,549
7,268
13,404

8,139
8,268
8,116
9,070

July
Aug
Sept
Got
Nov
Dec

3,807
7,350
10,999
3,295
8,106
9,553
6,453
8,335
11,297
9,929
8,452
17,054

1953
1954
1955
1956
1957.,

1958
1959
1960
1961
1962
1963

1964
1965
Months :
1964-Aug
Sept
Oct
Nov
Dec

1965-Jan
Feb

1966-Jan
Feb
Mar
Apr
May
June p .

. .

July
Aug
Fiscal 1967 to date

\J
2/

-3,122
3,510
-4,017

99
679

-9,U9

435
328
231
-194
195
633
-329
-50

483

4,587

-2U

-2,U5

-401
-250
-303
284

571

507
448
196
741
-978
-1,121

3,883
6,966
5,189
3,115
-1,623
-2,224
5,816
8,363
1,625
2,640
9,230
7,659
5.853
5,561
2,633

120

-108

1,835

311
815
-41
101
739
-259
267
1,092
-691

694

87
-106
-319
-209
-34
376
-21
224
109
-237
154
204
183
493
-576
328

-423
2,711
7,973
7,777
3,582
2,019
-4,141
-1,730
8,025
7,875
-581
5,952
7,301
5,877
8,594
2,964

1,770
-1,488
603
-635
-117
179
355
622
828
83
1,015
-134
-80
-713

-1,430
1,622
-4,930
-15
86

66
-130
366
171
-188

-903
387
41
-595
-161

2,906
1,520
26
2,351
-546

-2,033
372
3,049
280
-848

64
193
L46

377

-268

42
1,900
-2,136

592

-7,088
-7,040
1,953
-6,306
-7,199
-6,672
-8,248
-4,699

U7

-602

436
97
551
426

23
-698

234
729
168
151

522
-523
530
-6

-U5

2,047
1,839
-388
-2,299
2,096
-551
331
-956
4,159
-4,399
2,654
-1,311
3,736
1,686
-1,080
1,575
-203

Levels, end of period

Balance in
account of
Treasurer
of United
States

iiebt

Public
debt

outstanding

Guaranteed
securities

20
29
46

Total
Federal
securities

Subject to
limitation

y

5,517
7,357
6,969
4,670
6,766
6,216
6,546
5,590
9,749
5,350
8,005
6,694
10,430
12,116
11,036
12,610
12,407

257,357
255,222
259,105
266,071
271,260
274,374
272,751
270,527
276,343
234,706
286,331
288,971
298,201
305,860
311,713
317,274
319,907

52

257,377
255,251
259,151
266,123

81

271,3a

74
107
101
111
140
240
444
607
813
590
462

274,418
272,825
270,634
276,444
284,817
286,471
289,211
293,645
306,466
312,526
317,864
320,369

256,652
254,567
258,507
265,522
270,790
273,915
272,361
270,188
276,013
284,398
286,065
288,862
293,212
306,099
312,164
317,581
320,102

8,700

321,436

244

321,680

321,505

4,232
4,295
6,064
4,577
5,180
4,545
4,427
4,606
4,961
5,583

256,708

24

259,a9

42
54

256,026
258,794
266,821
274,671
278,256
230,348
276,276
274,564
282,607
290,513
289,971
296,061
303,616
309,724
318,464
321,073

U

6,494
7,509
7,375
7,295
6,582

267,391
275,168
278,750
230,769
276,628
274,898
282,922
290,798
290,217
296,169
303,470
309,347
317,940
320,904

103
104
109
127
156
330
518
742
809
455

256,731
259,461
267,445
275,244
278,734
280,822
276,731
275,002
283,031
290,925
290,373
296,499
303,988
310,039
318,750
321,359

640
3,400
-4,493
2,412
-809

6,789
:0,189
5,691
8,104
7,295

314,089
315,610
315,635
318,436
317,940

848
836
821
834
809

314,933
316,496
316,456
319,320
318,750

314,577
316,135
316,096
319,034
318,464

5,745

7,942
9,231
9,336
10,816
]2,610

317,983
319,883
317,697
316,557
319,218
317,274

664
693
719
657
606
590

318,646
320,575
318,416
317,213
319,823
317,864

318,361
320,290
318,131
316,929
319,540
317,581

-447
62

6,U1

76

34
53

972

279
-8

4,335

-577
-617

244
21

2,661
-1,944

-1,550
2,197
1,289
105
1,430
1,795

7,240
8,990
9,452
8,750
9,105
9,426

-3,434
-1,640
1,548
-5,455
-999
126

59

-57
-1 ,059
983
294
-792
314

-692
1,658
-1,493
2,154
2,810
-807

-4,124
-858
1,010
-2,852
974
-177

8,486
7,627
3,637
5,786
6,759
6,582

316,582
318,240
316,748
318,901
321,711
320,904

474

182
-28
156
-45
189

502
522
493
465
455

317,056
313,742
317,270
319,394
322,176
321,359

316,773
318,460
316,988
319,113
321,895
321,078

8,3'39

-2,356

8,156
10,193
8,362
9,055
9,378

179

1,099
1,303
-2,312
-1,416
2,777
-2,452

-1,076
973
-224
453
1,370
4,330

5,506
6,479
6,255
6,708
8,077
12,407

322,003
323,311
320,999
319,583
322,359
319,907

416
435
456
463
466
462

322,419
323,746
321,454
320,051
322,825
320,369

322,138
323,466
321,175
319,772
322,546
320,102

-627

7,U6

1,104
1,567
-603
7,676

-773
-174

116
-585
896
-430
-31
-720

66
71
88

782

-1,U0

5,702
7,197

JO, 263

-4,561
-3,845

-175
-287

750
-1,857

5,141

-4,613
-850

7,794

11,042

6,9U

319,280
324,420

489
484

319,768
324,904

319,502
324,638

12,899

21,305

-8,406

-463

-1,107

4,513

-5,463

6,944

324,420

484

324,904

324,638

Actual figures through fiscal year 1952 and calendar year 1953
are from the daily Treasury statement, and thereafter from the
monthly statement of receipts and expenditures of the Government (for
explanation of reporting bases, see page II); estimates, including
effect of proposed legislation, are from the 1967 Budget document
released January 24, 1966. (More details for data on this page are
shown in succeeding tables.)
For detail, see pages 11-15.
Excess of receipts, or expenditures (-).
For checks outstanding and telegraphic reports from Federal Reserve
Banks; public debt interest accrued and unpaid beginning with June and
the fiscal year 1955 (previously included from November 1949 as interest
checks and coupons outstanding); also deposits in transit and changes in
cash held outside the Treasury and in certain other accounts beginning
vlth the fiscal year 1954. Net increase, or decrease (-).

Source:

Net
increase in
Treasurer'
account
balance, or
decrease (-)

(-)

(-)

Calendar years ;
1950
1951
1952

Net
increase
in
public
debt, or
decrease

y

p

For current month detail, see section on "Statutory Debt Limitation"
The limitations in effect during the
in each issue of the Bulletin.
periods covered by this table and the date when each became effective
are as follows: $275 billion on June 26, 1946; $281 billion on August
28, 1954; $278 billion on July 1, 1956; $275 billion on July 1, 1957;
$280 billion on February 26, 1958; $288 billion on September 2, 1958;
$290 billion on June 30, 1959; $295 billion on July 1, 1959; $293
billion on July 1, 1960; $298 bilUon on July 1, 1961; $300 billion on
March 13, 1962; $303 billion on July 1, 1962; $305 billion on April 1,
1963; $307 billion on May 29, 1963; $309 billion on July 1, 1963; $315
billion on December 1, 1963; $324 billion on June 29, 1964; $328
billion on July Ij 1965; and $330 billion on July 1, 1966.
Preliminary.

,..

.

Treasury Bulletin
ADMINISTRATIVE BUDGET RECEIPTS AND EXPENDITaRES

Table

1.

-

Receipts by Principal Sources
(In millions of dollars)

Internal revenue

Employment taxes

Income taxes

Individual

Fiscal year
or month

Corporation

Mot
withheld

Withheld

26,728
27,041
29,001
31,675
32,978
36,246
33,719
39,259
36,840
42,769

60,5oO
59,102
53,826
67,125
67,918
71,945
75,324
78,891
79,792
92,090

46,U0

97,640

1966 p

24,301
26,131
30,835

12,302
11,528
11,733
13,271
13,175
14,403
14,269
15,331
16,820
18,486

1967(Est.).

35,100

16,100

1957
1958
1959
1960
1961
1962
1963
1964
1965

21,531
20,533
13,092
22,179
21,765
21,296
2.^,336

482
4,236
625

1965-Aug.
Sept.
Oct..
Nov
.

507

Ul

4,315

468

682
573

June p..
July.
Aug..

Fiscal 1967
to date.
.

.

7,244
2,440
751
8,252

1/

164 1'
2,427
244

Dec.

1966- Jan..
Feb.
Mar..
Apr.
May..

For old-age,
disability,
Total
income and hospital
taxes insurance

'^

2,727
1,038 3'
936
6,259
1,151 2/
2,569

878
606

351
173

1,484

52.V

2'

5,377 2/
2,995
1,263
5,793 2/
3,237
1,412

6,022
9,658
2,133
6,442
8,020

For railroad retirement

Total
employment
ment
insurance taxes
For unemploy-

Estate
and
Excise
taxes
gift
taxes

Total
internal
revenue

Customs

Miscellaneous
receipts

....

,

.

September 1966
ADMINISTRATIVE BUDGET RECEIPTS AND EXPENDITURES

Table

2.

-

Detail of Miscellaneous Receipts by Major Categories
(In millions of dollars)

Fiscal year
or month

Total

Interest

RealizaDividends
tion upon
and other
loans and
earnings 1/ investments

628
745

433
674

601

1962
1963
1964
1965
1966 p

,7i9
,196
,158
,064
,082
,206
,436
,077

506
1,111
805
743

622
,797

1,077
824

1,731

1,076
752
496
347

1967 (Est.)

',050

968

1,820

1965-Aug...
Sept..
Oct..
Nov
Deo

401
348

93
64
224
94

157
169
160
247
115

85
17
17

1957
1958
1959
1960
1961

.

.

.

.

384
766
386

1966-Jar..;

456

Feb...
Mar...
Apr.
May...
June p

467
403
401
935

July.
Aug...

373
447

.

.

Fiscal^ 1967
to date. .

331

819

967
942
377
765
955

7

21

14
94
50
56

106

360
934
1,393

328
328
587
436
1,012

Recoveries and
refunds

266
322
343
114
182
154
200
130
132

ties

Fees for
permits
and
licenses

Fees and
other
charges
for
services
etc

Rents

Fines,
penalties
and forfeitures

Other 2/

124
131

331

141

132
152

944

312
304
350
374
330
342
370
409
427
503

91

110
118
128
134

194

127

204

1,053

396

1,568

123

163

408

23

4

-20

40

55

6

11

5

1

21

21

6

1

11

5

5

2

-21

104
-11

11

11

7
13

1

11

9

64
44

9

7

26
33
37
39

9

9

38
39

4

31

10
12

14
26
36
32
48

1

11

34

11

12

61

17

32

2

-10

8

11

5

10

12
14

7

1

12

62
128
93

60
48
71
66

5

31

37
69
37
32

6

1

-20
8
12
-14

14
78

236

41
70

14.4

11
-18

24
62

21
77

86

97

371

30
-11

7
21
10
6
15

140

29

21

142

27

3

28
32

55

79
90
93
96
114
121

431

14

56

47
54

25

Actual figures through 1961 are from reports to the Treasury
Department by disbursing officers and administrative agencies, on
the monthly statement reporting basis (see page II); and from the
monthly statement of receipts and expenditures thereafter. Estimates, including effect of proposed legislation, are from the 1967
Budget document, released January 24, 1966.

Source:

Footnotes to Table

2/

Includes adjustments as follows:
Income taxes not withheld, August
-$4 million, November -$6 million, February -J4 million, May +$98
million and August -$4 million; income taxes withheld, August -$202
million, November +$128 million, February +$74 million. May -$122
million and August -$56 million; transfers to Federal Old-Age and
Survivors Insurance Trust Fund, August +$187 million, November -$107
million, February -$73 million. May +$23 million and August +$56
million; and transfers to Federal Disability Insurance Trust Fund,
August +$18 million, November -$15 million, February +$2 million,
May +$2 million and August +$4 million.

1

V

h/

49

49

160

59

53
54
57

161

81

100

62

45
69
117
649

101

44
53
55
58

94

70
83

20
23
23
16

8
12

14

11

101

28
86
93
325
94
89

11

13

437
74
109
229

79
48
87
26

6
7

15

133
111

8

9
8
15

1

U

10
128

u

5

10

6

1

7

10

12

1

12

20

18

5

1

6
5

13

-2
5

9
14

23

Beginning October 1965 certain accounts representing profits from
silver coinage, previously classified as "dividends and other
earnings," have been classified as "seigniorage."
Consists of miscellaneous taxes (principally the tonnage tax on
foreign vessels entering U. S. ports), bullion charges, gifts »nd contributions, and undistributed proceeds, sale of foreign c\irrency,
Preliminary.
Less than $500,000.
p

2/

•

^/

Seigniorage

387
345
325
392
343
263
263

120
123
109
125
124
134

282

Saie of
Sale of
Governprodment
ucts
property

Royal-

-

(Continued)
Interest on refunds is included in expenditures in table 3.
The principal amounts for refunds of employment taxes and certain
excise taxes (highway) are excluded from the transfers of tax receipts
shown herein, and are included with refunds of internal revenue
receipts, applicable to trust accounts.
For content, see Table 4..
These transactions are included in the
detail of both budget receipts and expenditures but are deducted from
the totals (see Reporting Bases, p. II).
Less than $500,000.
Preliminary,

,

Treasury Bulletin
WMENISTRATIVE BUDGET RECEIPTS AND EXPENDITURES

INTERNAL REVENUE COLLECTIONS BY PRINCIPAL SOURCES
$Bi

125

100

75

50
25

..........

September 1966

—

ADMINISTRATIVE BUDGET RECEIPTS AND EXPENDITURES

Table

3.

-

Expenditures by Agencies
(In millions of dollars)

Defense Department
Fiscal year
or month

Legislative
Branch

97
99

1957
1958

Executive
Judi- Office
ciary of the
President

10
11
56
56
70
29
23
23
24

39

44
47
49

Agriculture
Department

Funds
appropriated
to the

President

758
745

214
229
250
258
284
294
317
328
358
371

567
1,016
549
831
620
257
370
480
500

5,798

923

57,150

1,369

10,191

-414

1,322

405

522

755

1,112
839
647
756
603

50

4,131
4,300
4,252
4,210
4,789

121
125
131
134
129

402
787

66
159
6
145
233

128
113
112
104
136

28
29

63
84
70
79
67

79

115
79
102
99
110
66

662
613
918
752
744
626

-93

51

144

291
166
-58
-66
28

94
104
87
87
101
121

30
29

-168

110

-24
72
65
75

4,411
4,198
5,246
4,766
4,559
5,899

31
31
30

68
43
64
44

93
43
78
63

82
63

4,661
5,353

123
133

909
765

616
-122

135
171

38
30

70
66

74
124

493

306

68

136

198

5,028

559
334

205

91

31

8
15

6
6

23
16
14

8
6
7

343
272
308
352
367

18

6

255

10
12

6

18
16

8

418
-152
256
92
486
1,475

June p.

.

13

7
7

359
443
279
368
612

July
August

.

10
25

6
7

307
378

35

13

.

.

May

Fiscal 1967
to date

6

5,419
5,929
6,669
7,735
7,897
7,298
5,986

1,960

498
594
676
686

49
7o
121
57
62
73
,

V

145

Treasury Department
Fiscal year
or month

State
DepartOn
ment
public
debt

V

179
206
272
247
258
307
408
347
383
401

1957
1958
1959
I960
1961
1962
1963
1964
1965
1966p
1967 (Est.)...

405

1965-August...
September
October.
November.
December.

22
53
49

1966- January
February
March, . .
April. .

13

.

June p

July
August
Fiscal 1967
to date

40
33

32

.

32
29

. .

24
26

May

70
.

Atomic
Energy
Commission

Interest

7,244
7,607
7,593
9,180'

8,957
9,120
9,895
10,666
11,346
12,034
12,750

966
966
962
963
1,005
1,035
976
1,035
1,013
1,025
1,088

On

refunds
of taxes
57

74
69
76
83
68

74
88
77

104
91
9

17
S

9
3

6

6
10

1,091
1,064

15

28

99

2,155

24

748
765
2,178 2/
875
987
985
1,059
1,193
1,306
1,340

Federal
Aviation
Agency

1,673

National
General
Veterans
AeroServices
Adminisnautics
Adminis
and Space tration
tration

Other
independent
agencies

27

Deduct:
Inter-

District
of

Columbia

6/

911 8/
940
956
224
794
937
293

26
25

159

57
61

Total by I'und
agencies transactions
7/

5,718

55

65
58
55
44
60

482
489
449
470

482
473
484

521

206

37

477
456
519
502
569
571

528
512
524
287
484
357

-271
83
132
100

1

-723

24

73
69

494
441

449
442

128
197

26
2

10,302
11,093

142

934

891

325

28

21,395

106
97
106
158
102

210
177
186
205
185

115
103
110
113
137
88

192
136
197
193
241
225

71
66
62
64
85
70

142
119

226
180

71
74

146

66
61

74
73

57

64
51
48

525

129
194
224
384
118

12
1

-12
2
19

68,966
71,369
80,342
76,539
81,515
87,787
92,642
97,684
96,507
112,847 la/

5,300

2,300

Net
budget
expenditures

L06,917

635

71

84

712

840

703
319

50

72
66

23
31

113,559 10/

145
401
744
1,257
2,552
4,171
5,093
5,933

31

84

664
870
629

441
508
638
698
726
751
795
804

28

467

;

518
674
774
525
914
797
770
578
805
874

69,433
71,936
80,697
77,233
82,169
88,419
93,155
98,348
97,377
107,546

4,805
5,098
5,232
5,250
5,401
5,392
5,173
5,478
5,488
5,069

Actual figures are from the monthly statement of receipts and
expenditures of the Government (for explanation of reporting bases,
see page II); estimates, including effect of proposed legislation,
are from the 1967 Budget document released January 24, 1966.
Note:
Agency shifts are shown in this table beginning with the period

Source:

255

418

29
30
39

570
425
359
408
387
445
466
593
624
607

1,407

406

10,013

541

467
600

Adm.

1,990
2,268
2,541
2,623
2,713
2,806
2,758
2,765
2,625
2,404

260

Post
Office
Department 1/

572
666
751
690
801
908
1,029
1,124
1,205
1,325

1965-August.
September
October.
November.
December.

1966- January.
February
March. .
April. .

Labor
Department

-23
199
1,152
309
502
739
410
328
250
772

1967 (Eat.)...,
.

Interior Justice
Depart- Department

2,295
2,645
3,092
3,403
3,685
4,215
4,909
5,498
5,740
7,652

562
645
382
539

26

52
57

Housing
and Urban
Development
Department

639
733
807
902
971
999
1,128
1,153
1,234
1,309

5,006
4,875
7,091

62
65
74
79

I960
1951
1962
1963
1964
1965
1966p

Civil

Health,
Education,
and
Welfare
Department

38,439
39,062
41,233
42,824
44,677
48,205
48,252
49,760
46,173
54,363

4,115
4,081
4,109
1,764
1,808
2,053
3,968
4,119
4,307 3/
4,278

118
126
134
153
147
152
165
181

1959-.

Commerce
DepartMilitary
ment

9,082
9,453
8,803
9,327
9,458

567
355

694
654
633
513

92
1

53

223
31

8,882
8,173

73
16

10,198.

5

8,375
9,055
9,421

13
1

43
40
51

91

8,990
9,452
8,750
9,105
9,426

8,809
8,156
10,193
8,362
9,055
9,378

10,263
11,042

21,305

of such shifts; figures prior to the shifts have not been adjusted.
Therefore, some expendi^ures do not necessarily represent functions
which are comparable over a period of time (for a more consistent
basis, see Table 6).
Footnotes on following page.

.

ireasary Bullet.in
ADMINISTRATIVE BUDGET RECEIPTS AND EXPENDITURES

Table

4.

-

Interfund Transactions Excluded from Both Net Budget Receipts and Budget Expenditures
(In millions of dollars)

Interest payments to the Treasury

Fiscal year
or month

Total
interest

1957
557

Commodity
Credit
Corp.

340
421

Housing
Exportand Urban
Import
DevelopBank of
ment
WashingDepartton
ment 2/

n

Panama
Canal
Company

47
45

Small

Business
Admin.

1,/

Tennessee
Valley
Author-

Veterans'
Administration

ity

1

11
9
9
9
9
10

Under
Defense
Production
Act 4/

10
14
19
23

24
30
42
35

32

6
8
6

Other

3

1958
1959
1960
1961
1962
1963
196i
1965
1966 p

£33

'320

513

i99
6_8

629

1967 (Est.)

712

92

92

1

1965-August
September
October
November
December

2

181

bi2

611

465
410
330
186
IQ9
45^
302

684

322

'^1'

UO

87Li

41
46
43
57
51
34
15

14

39

90
118
146
160
152
147
138

3

7
7
15
14

20
27
31
39

11
11

12

130

1

1

47

2

223
11

31

24

Charges
for
audits
of
various
agencies

10
9
12
11
13
12
14
15
17
17
19

1

69
II:

5

5

13

9

1

1

June p

a

39

July
August

40
51

40
51

26
39

9

91

90

65

9

26

U

11

Footnotes to Table

6/

7/
S/
»

Consists of net expenditures of the Postal Fund, reflecting the change
in classification of Post Office transactions to a public enterprise
revolving fund basis, and beginning fiscal 1960, payment for public
services.
Beginning with fiscal 1961, administrative expenses of the employment security program are handled as trust account expenditures rather
than budget expenditures, pursuant to the Employment Security Act of
1960, approved September 13, 1960 (42 U.S.C. 1101).
Includes $258.8 million paid to the International Monetary Fund for the
additional United States gold subscription, authorized by an act
approved June 2, 1965 (see "Account of the Treasurer of the United
States , " Table 4)
Net decrease is due to sale by the Commodity Credit Corporation of certificates of interest on loans held by the corporation. Net expenditures, excluding this sale, were $340 million.
Reported on an accural basis effective June 30, 1955.
Consists of Federal payment and loans and advances.
These transactions are included in the deFor content see Table 4.
tail of both budget receipts and budget expenditures, but are deducted
from the totals (see Reporting Bases, p. II).

3

1

2

11

Informational Media Guaranty Fund beginning 1959; Federal Ship Mortgage
Insurance Fund beginning I960; St. Lawrence Seaway Development Corporation beginning I960; Economic Opportunity Loan Fund and Upper
Colorado River storage project beginning 1965; and Farmers' Home
Administration rural housing loans beginning 1966.
For net cost of Canal Zone Government, less tolls on Government vessels, and for part of treaty payment for use of Canal Zone,
Includes $AS million for power marketing agencies.
Includes $9 million for fees and other charges of power mariceting
agencies.
Less than $500,000.
Preliminary.

p

6/
7/

106 2/

1

See Table 1.
Source:
1/ By Government agencies operated as revolving funds; on loans (see
"Debt Outstanding," Table 6) and other interest-bearing U.S. investments.
2/ Consists of payments by: Office of the Secretary for college housing,
urban renewal, and public facility loans; Federal National Mortgage
Association; and Public Housing Programs.
2/ Direct loan program and reopened insurance fund.
By various agencies for programs under Defense Production Act.
5/ Consists of payments by the: Colorado River Dam Fund, Boulder Canyon
project; Virgin Islands Corporation; Bureau of Federal Credit Unions;
Civil Defense Program Fund until 1966; Farmers' Home Administration;

u

154
125
14

45

March
April
May

Fiscal 1967 to date

3/

36
34

7
8

16
18
22
26
56

5?'

1966- January
February

1/

40
47
49

4
4

Reimbursement by
Panama
Canal
Company

(Continued)

-

g/

2/

12/
*

Effective January 1, 1957, the production credit coporations were
merged in the Federal intermediate credit banks, pursuant to Farm
Credit Act of 1956, approved July 26, 1956 (12 U.S.C. 1027, and operations of the merged agencies (as mixed-ownership corporations) were
classified as trust enterprise funds from January 1, 1957, until
January 1959 when they were classified as Government-sponsored
enterprises (see "Trust and Other Transactions," Table 3); previously
the operations of the banks and the corporations, respectively, were
classified as public enterprise funds and were included net in budget
expenditures.
Includes $1,375 million paid to the International Monetary Fund for
the additional United States subscription, authorized by an act
approved June 17, 1959, consisting of $343.8 million in gold (see
"Account of the Treasurer of the United States," Table 4) and
The special notes of the United
$1,031 million in special notes.
States issued to international institutions are nonnegotiable and
See also "Consolnoninterest-bearing and are payable on demand.
idated Cash Transactions," Table 2 and "Debt Outstanding," Table I.
Includes an allowance for contingencies of $350 million.
Less than $500,000.
Preliminary.

September i966
ADMINISTRATIVE BUDGET RECEIPTS AND EXPENDITURES

Table

6.

-

Expenditures by Functions

(Fiscal years; in millions of dollars)

Function
code
number

Functions

National defense :
Department of Defense-Military
Military assistance
Atomic energy
De'fense-related activities

051
057
058
059

Total national defense

1961

1962

43,227

1,U9
2,713
104

47,494

International affairs and finance
Conduct of foreign affairs
Economic and financial programs
Foreign information and exchange activities
Food for Peace
;

151

ri6

152
153
15A

1,927
158
1,653

Total international affairs and finance

Space research and technology

251

Agriculture and agricultural resources:
Farm income stabilization 2/
Financing farming and rural hous ing
Financing rural electrification and rural telephones.
Agricultural land and water resources
Research and other agricultural services 2/

351
352
353
35i
355

2,345
349
301

347
324

3,667

Total agriculture and agricultural resources

Natural resources;
Land and water resources
Forest resotirces
Mineral resources
Fish and wildlife resources
Recreational resources
'General resource surveys and administration

iOl
iD2
403
404
405
409

Total natural resources

1,444
331
61

73
91

55

2,056

Commerce and transportation:
Aviation
Water transportation
Highways
Postal service
Advancement of business
Area and regional development
Regulation of business

501
502
503
505
506
507
508

Total commerce and transportation

716
569
36
914
271

67
2,573

Housing and community development ;
Aids to private housing 3/
Public housing programs
Urban renewal and community facilities
National Cap ital region

551
552
553
555

Total housing and community development

651
652
653
655
659

Public assistance^.
Economic opportunity program
Other welfare services

150
162
51

320

,

Health, labor, and welfare;
Health services and research^/
Labor and manpower

-44

Total health, labor, and welfare

961

809
2,147

4,244

Education:
Assistance for elementary and secondary education
Assistance for higher education
Assistance to science education and basic research..
Other aids to education

^

^

701

^

Total education
Veterans' benefits and services:
Veterans' service-connected compensation 6/
Veterans' nonservice-connected pension 6/
Veterans' readjustment benefits 3/
Veterans' hospitals and medical care
Other veterans' benefits and services 6/

Total veterans' benefits and services

801
802
803

804
805

Treasury Bulletin
ADMINISTRATIVE BUDGET RECEIPTS AND EXPENDITaRES -

Table

6.

-

Expenditures by Functions- (Continued)
(Fiscal years; in millions of dollars)

Piinction

code
number

Functions

Interest
Interest on the public debt
Interest on refunds of receipts
Interest on uninvested funds

1961

1963

1962

Total Interest

General government
Legislative functions
Judicial functions
Executive direction and management
Central fiscal operations
General property and records management
Central personnel management
Protective services and alien control..
Other general government

,957
83
10

9,120

9,050

9,198

118

135

68
10

:

901
902
903
904
905
906
908
910

52
22
607
372
140
289
109

1,709

Total general government

Undistributed
82,169

Total
Deduct:

Interfund transactions

Net budget expenditures (see table

654
3)

...

1965

1966p

1967
through
July 1966
1/

:

851
852
853

1964

81,515

57

22
653
419
153
300
136
1

.

September 1966
ADMINISTRATIVE BUDGET RECEIPTS AND EXPENDITURES

Table

7.

-

Detail of Excise
(

Tax Receipts

In thousands of dollars)

Fourth quarter of
fiscal year ended June 30-

Fiscal year
Type of tax

r^u

^

Alcohol taxes:
Distilled spirits.
Vines
Beer

Total alcohol taxes.

Tobacco taxes:
Cigars
Cigarettes
Other

1965

1965

1966 1/

1966 1/

(Apr. -June 1965)

(Apr. -June 1966)

2,575,320
110,2^2
891,936

2,749,884r
112,432
910,319r

2,809,777
112,574
892,028

687,960
26,642
247,456

679,978
27,983
2a, 699

3,577,499

3,772,634

3,8U,378

962,058

949,661

56,309
1,976,675
19,561

60,923
2,069,695
17,976

57,662
2,006,499
9,796

15,505
532,553
4,525

15,138
534,804
233

,052,545

2,148,594

2,073,956

552,583

550,175

162,680
8,891

178,159
8,128

U6,453

46,117
1,117

19,131

2/

Total tobacco taxes.

Documentary and certain other stamp taxes
Documentary stamp taxes
Playing cards V.
Silver bullion sales or transfers ^.

:

^

.

Manufacturers' excise taxes;
Gasol ine b/
Lubricating oil, etc
Tires, tubes, and tread rubber 6/
Passenger autoraobiles, chassis, bodies, etc. X^
Trucks and buses, chassis, bodies, etc. 6/
Parts and accessories for automobiles, trucks, etcS/..
Radio and television sets, phonographs, components, etc.^
Refrigerators, freezers, air-conditioners, etc. 2/
Electric, gas, and oil appliances
Pistols and revolvers
Phonograph records
Musical instruments 4/
Sporting goods (other than fishing rods, creels, etc.) 4/
Fishing rods, creels, etc
Business and store machines
Cameras, lenses, film, and projectors
Electric light bulbs and tubes IQ/
Firearms (other than pistols and revolvers), shells
and cartridges
Mechanical pencils, pens, and lighters A/
Matches 4/

^

^

Total manufacturers' excise taxes.
Retailers' excise taxes: /^
Purs
Jewelry, etc
Luggage , etc
Toilet preparations

Total retailers' excise taxes.

Footnotes at end of table.

2

171,614

186,289

U6,457

47,233

19,133

2,618,370
76,316
411,483
1,745,969
350,945
228,762
197,595
62,799

2,824,189
90,776
481,803
1,492,225
460,069
196,546
-3,761
137
5,367
3,008

625,2U

25,098
21,748
20,633
7,342
71,867
29,580
41,511

2,687,135
76,095
440,467
1,887,691
425,361
252,874
221,769
75,987
80,983
2,206
26,692
25,810
21,317
7,373
74,426
35,095
42,754

653,960
24,650
117,649
375,117
138,610
24,184
-7-, 393
-3,633
-6,481
730
-2,887
-1,663
-1,339
3,087
-2,175
-1,893
357

17,455
9,299
4,359

20,201
9,468
4,440

24,3U

6,020,543

.

Total documentary and certain other stamp taxes.

^

43

2
2

^

77 576
1,837
,

3,U8
-1,512
2,317

7,894
6,745
1,064
16,230

17,273
115,259
556,617
139,880
59,329
66,346
22,503
22,602
561
5,834
6,303
4,941
2,651
18,

U3

4,968
10,130

5,125

1,U7

3,386
2,041
1,131

6,418,145

5,613,869

1,685,113

1,316,039

30,016
189,437
78,704
176,857

31,390
204,572
81,386
195,833

3,179
43,264
20,814
40,898

6,537
43,756
13,663
50,005

436
215
198

475,013

513,181

108,155

113,961

884

(Continued on following page)

2,133

28
8

35

.

,

.

,

)

—

.

.

Treasury Bulletin

10
ADMINISTRATIVE BUDGET RECEIPTS AND EXPENDITURES

Table

7.

-

Detail of Excise
(

Tax Receipts

-

(Continued)

In thousands of dollars
Fo-orth quarter of

Fiscal year

fiscal year ended June 30

Type of tax
1966

1964

Miscellaneous excise taxes:
Admissions to theaters, concerts, etc .11/'
Admissions to cabarets, roof gardens, e^c. 11/
Club dues and initiation fees 42/
Toll telephone service, telegraph, cable, radio, etc.,
wire mileage service, wire and equipment service 13/.
General telephone service 13/
Transportation of oil by pipeline lA/
Transportation of persons 15/
Transportation of property including coal) 14/
Use of safe deposit boxes 16/
Coconut and other vegetable oils processed 17/
Sugar
Diesel and special motor fuels 6/ 18/
Narcotics and marihuana, including occupational taxes,
Coin-operated amusement devices 16/
Coin-operated gaming devices
Bowling alleys pool tables etc 16/
Wagering occupational tax
Wagers
Use tax on highway motor vehicles weighing over
26,000 pounds 6/
Adiolteij-ated butter and filled cheese (imported and
domestic), process or renovated butter and imported
oleomargarine
Fireaims transfer and occupational taxes
Interest equalization
Foreign insurance
t

,

,

,

.

,

Total miscellaneous excise taxes

Total received with returns and from sale of stamps
Undistributed depositary receipts and adjustment 19/ .
Unapplied collections
Total excise taxes

. .

1965
(Apr. -June 1965)

1966 1/
(Apr. -June 1966)

517

i7,053

51

41 ,026

75,120

43,623
79,671

45,668
35,736
52,571

11,403
10,322
22,533

1,741
1,399

379,608
530,588

458,057
620,880

442,528
465,389

119,439
141,468

134,555
60,661

,96S

10

34

16

1

2

106,062
277
7,423
1i
95,i11
128,079
1,282
5,215
17,548
5,6o6
617
5,439

125,890
215
7,480
29
97,109
152,188
1,366
4,363
15,018
4,778
603
6,071

139,624

31,418
66
2,156

44,332

100,199

102,033

115

1,902
17

102,932
159,326

1,3a
326
16,498
243
705
5,689
104,240

11
19,157
37,158
532
509

3,200
416

25
11
a

23,640
40,154
529
75
3,345
17

1,421

249
1,270

16,339

16,896

1
27
4,852
2,775

147

3

3

3

1

50

75

63

14,597

25,653
2,775

36
4,230

1,546,631

1,786,056

1,603,364

^1,964

337,074

13,843,845

14,824,898

13,360,179

3,732,912

3,172,965

92,558

-55,210

-87,595

36,984

47,153

13,823

23,090

125,527

12,688

-46,394

13,950,232

14, ''92, 779

13,398,112

3,832,584

3,173,726

Source:
Internal Kevenue Service reports. The figures shown include
collections for credit to special accounts for certain island possessions. Floor stocks taxes are included with the related classes
of tax.
1/ Negative figures stem primarily from floor stock credits taken on
certain of the taxes repealed by the Excise Tax Reduction Act of 1965.
2/ Releases showing details are published monthly,
Issues and transfers of stocks and bonds, repealed effective
January 1, 1966, (Publie Law 89-44). Tax on foreign insurance payable
by return on and after January 1, 1966, (Public Law 89-44 and
T. D. b868).
Repealed effective June 22, 1965, (Public Law 89-44)
Tax on transfer of interest in silver bullion, repealed effective
June 3, 1963, (Public Law 88-36)
6/ Collections reflect the provisions of the Highway Revenue Act of
195b, approved June 29, 1956 (23 U.S.C. 120 note).
7/ Rate lU percent through May 14, 1965; 7 percent from May I5, 1965
through December 31, 1965; 6 percent January 1, 1966 through
March 15, 1966, (Public Law 89-44). Under Tax Adjustment Act of
1966, rate restored to 7 percent, effective March 16, 1966, (Public
Law 89-368).
8/ Automobile parts and accessories (except truck parts), repealed
effective January 1, 1966, (Public Law 89-44).
2/ Air conditioners, repealed effective May 15, 1965. Refrigerators and
freezers, repealed effective June 22, 1965, (Public Law 89-44).

^

V

10/

12/
13/

V
^

11/
16/
17/
18/
12/

Sales of light bulbs for incorporation in articles upon which the
manufacturers' tax was repealed effective June 2i., 1965 (e.g. refrigerators), will be free of tax on and after such date. Tax on all
other light bulbs and tubes, repealed effective January- i, l^bt,
(Public Law 89-^4).
Repealed effective noon December 31, l^t^f (Public Law 89-'+AJ
Repealed effective January 1, 19bb, (Public Law 89-Aji}
General and toll telephone and teletypewriter service reduced to 3 percent, January 1, 1966.
Private conmiunications services, telegraph
service, and wire equipment service, repealed effective January 1, 1966,
(public Law 89-4A). For general and toll telephone services and for
teletypewriter exchange service, the rate of tax on ainount paid on bills
first rendered on or after April 1, 1966, for services rendered after
January 31, 1966, is increased from 3 percent to 10 percent of the amount
paid (Public Law 89-368)
Repealed effective August 1, 195?, by an act approved June 30, 1958
(26 U.S.C. 4292 note).
Repealed effective November 16, 1962, except on air transportation,
which was reduced to 5 percent.
Repealed effective July 1, 1965 (Public Law 89-44).
Repealed effective August 31, 1963Excludes diesel fuel not for use in highway vehicles.
Undistributed depositary receipts represent the amount of excise tax
depositary receipts issued, less the ainount of depositary receipts
received with excise tax returns.
Less than $500.
r
Revised.

u

September 1966
.TRUST AND OTHER TRANSACTIONS.

Table

1. -

Summary

of Trust and Other Transactions

(In millions of dollars)

Treasury Bulletin

32
.TRUST AND OTHER TRANSACTIONS.

Table

3.

-

Trust, Deposit Fund, and Government-Sponsored Enterprise Expenditui
(In millions of dollars; negative figures are excess of credits)

.

..

September 1966

13
.TRUST AND OTHER TRANSACTIONS,

Table

4.

-

Investments in Public Debt and Agency Securities (Net)
(In millions of dollars; negative figures are excess of sales)

Trust accounts, etc.

Fiscal year
or month

Total
1/

Federal
Total
Old-Age and
trust
Survivors
accounts,
Insurance
etc
1/
Trust Fund

Federal
Disability
Insurance
Trust Fund

Federal
Hospital
Insurance
Trust Fund

2,339

2,302

597

506

220
-499

-1,130
925
855
i93
2,069
2,775
2,356
3,571

-1,232
760
707
301
1,782
2,412
2,327
3,365

-1,290
-726
-225
-1,089
-821
692
461
-857

-129
-139
-263
-413

736

1967 (Est.)

4,9U

4,509

1,200

164

296

1965-Aug
Sept..
Oct

2,515
-1,210
-1,308

2,446
-1,206
-1,206

519
-935

-968

1,295
-1,119
-1,025
233
-596

48
-103
-105
-26
-151

-1,499
888
-58
-869
2,322
482

-129
68

-1,170
4,023
2,327

-1,937
1,721
-20
-1,210
4,015
2,274

-333

-390

-22

3,103

3,06-i

1,367

2,771

2,675

1,345

1957
1958
1959
1960
1961
1962
1963
196i
1965
1966 p

Nov.
Dec

.

1966- Jan
Feb
Mar
Apr. .
May...,
June p,
.

July.

.

Aug

-1,897
1,749
2

563

Federal
Supplementary
Medical
Insurance
Trust Fund

325
729
552
494
285

Railroad
Retirement
Account
36
-33
-35
264
-78
-63

21

967
1,468

307

976

74

-6

687
-68
-77
303

10

-1

149
143

-76
172
-14

250
189

37
81

203
124

44
29

327

73

55

89

69
149
154

-89
-19
-35

3

274
-1,255
-1,011
-41
-952

National
Service
Life
Insurance
Fund

95
76
62
-44
44
-90
69
126
204

1

174

Unemployment
Trust
Fund

72
456
573

-16
-56
-17
-21
-35
-44
-25
-22
-22
-21
-23

8

-12

14
12
7

-73
-40
18
-92
11
562

-174
346
-186
-129
864
-11

-4
-5
-9
-9
-9
181

-84

-76
711

-2

-9

-2

Government
Life
Insurance
Fund

Federal
employees'
retirement
funds
803
671

958
871
1,063

-4
-2

404
418
-393
-428

127 2/
-24 S/

-3^

1,034
1,075
1,126
1,214
1,113

202
242
-69
-344
-28

45
27
93
301
70
-32
471

1,049

-90

59

-23
-47
-59
-149

82
13
95
-121
-25

117
-3

Other
Highway
trust
Trust
ccounts,
Fund
etc. 1/

34
52

2.-3

40

*

64
30
46

43

27
16

26

31
31
535

53
61
38

-5

47

-34

-5

58

513

-6
-4
-6
-5
-7

2
51

-78
277
-17
-155

Fiscal 1967
to date ....

-86

635

-10

105

479

'

'

u

Treasury Bulletin
.TRUST AND OTHER TRANSACTIONS,

Table

5.

-

Sales and Redemptions of Government Agency Securities in Market (Net)
(In millions of dollars; negative figures are excess of sales)

Securities guaranteed by the United States
Public enterprise funds

Fiscal year
or month

Total 1/

,171

1957
1958
1959
1960
1961

1962
1963
1964
1965
1966 p
1967 (Est.)

1965- August
September
October
November
December

1966-January
February
March
April
May
June p

July
August
Fiscal 1967 to date

-400
,293
,746
537
,780
,022
,880
,372
,078

-1,338

Total
guaranteed

-33
6
-10
-29
-100

Federal
Farm
Mortgage
Corporation

Federal
Housing
Administration

Corporation

D. G.

stadium
fund

-33
6
-10
-28

public enterprise funds

Total not
guaranteed

V
-1,137 1/
-406
-1,283
-1,717
638
-1,576
-860
-1,674
-1,595
-4,207

129

-81
-204
-162
-206
223
129

154

154

-1,492

-20
29
23

-445
69
-62
-197
35

-305

-204
-162
-206
223

45

9

-28
-20
29
28
9

-265
-2o0
-341
-732
-1,070

40
-19

40
-19

-21

-21

-13

-13

3

3

-473
49
-33
-168

Home
Owners
Loan

Securities not guaranteed by the United States
Trust
enterprise
fund

-19

-241
-321

-720
-1,072
-818

-814

4

4

-297
-470

-27

-27

5

5

-270
-475

-766

-22

-22

-744

Federal
National
Mortgage
Association 2/

-233
6

797

Home
Owners
Loan
Corporation

.

September 1966

15
.TRUST AND OTHER TRANSACTIONS.

Table

6.

-Interfund Transactions Excluded from

Both Net Trust Receipts and Trust Expenditures

(In millions of dollars)

Federal
Old-Age ani
Survivors
Insurance
Trust Fund I,-'

Fiscal year
or month

Federal Disability
Insurance
Trust
Fund
2/

V

Federal
Supplementary
Medical
Insurance
Trust Fund

Railroad
Retirement
Account

1/4'

Unemployment
Trust
Furd f/

Federal
employees'
retirement
funds 6/

Alien
property
activities 2/

District

Columbia 3/

?/

195"
1958
1959
I960
1961
1962
1963

]0
11
135

3

Q

196-i

515
528
505
521

1965
1966p

633
770

124
600
332
361
423
403
436
444

1967 (Est.)

767 2/

520

1965-*u?'st
September
October
November
December

1C2
2i

23

7
7
30

24

908

1966-January
February
March
April
May
June p
July
August
Fiscal 1967 to date

6
13

211
132
101

86
32

22
22
27
32

58
41

90
92

U2

10
10
12
12
13
15
17
18

68

94

24

32

1

8
8

26

24

7
5

543

444

28

34

22
33
53

48

19

los

19

:

^

10

95

Source
See Table 1
1/ Payments are made between the Railroad Retirement Account and
Federal Old-Age and Survivors, Federal Disability and Federal Hospital
insurance trust funds so as to place those funds in the position in
which they would have been if railroad retirement employment had been
included under social security coverage.
2/ Includes interest on amounts reimbursed to the Federal Old-Age and
Survivors Insurance Trust Fund for administrative expenses.
Premiums deducted from benefit payments from Federal Old-Age and Survivors and Federal Disability insurance trust funds, and Civil Service
and Railroad Retirement accounts.
Includes temporary advances to the Railroad Unemployment Insurance
Account in the Unemployment Trust Fund v^en the balance in the account

^

37
9
47

^
6/
7/
g/

2/

is insufficient to meet payments of benefits and refunds due or to
become due.
Repayment of advances plus interest to the Railroad Retirement Account.
See footnote 4.
Transfers from the Civil Service Retirement and Disability Fund to
the Foreign Service Retirement and Disability Fund.
Transfers to the Foreign Claims Settlement Commission.
Contributions and beginning with 1958, transfers of deductions from
employees' salaries to the Civil Service Retirement and Disability
Fund, advances to National Park Service, and advances to Smithsonian
Institution.
Includes payment of $2 million between Federal Old-Age and Survivors
Insurance Trust Fund and Federal Supplementary Nfedical Trust Fund.
Less than t500,000.
p Preliminary.

Treasury Bulletin

16
•CONSOLIDATED CASH TRANSACTIONS

Consolidated cash transactions reported in the Treasury

from expenditures currently, but are added later when actual

These items consist of certain interest

Bulletin are on a basis consistent with Federal receipts from

payments are made.

and payments to the public as derived in the Budget of the

accrued on the public debt and expenditures involving the

United States (in the Budget for 1967 in Special Analysis A).

issuance of a few special public debt securities.

Checks

Shovm also is the amount of net cash borrowing from, or repay-

outstanding, deposits in transit, and other clearing accounts

ment of borrowing to, the public.

are excluded from payments.

Revisions of the figures

Receipts from the exercise of

for earlier years have been made where necessary to make them

monetary authority are excluded as not representing cash

as nearly comparable with current Budget classifications as

received from the public.

available data will permit.

Federal cash borrowing from the

For this reason certain of the

public includes net borrowing by the Treasury through public

figures differ somewhat from those published in previous

debt transactions and also net borrowing ty Government agencies

Budget documents as well as in the Bulletin.

and Government- sponsored enterprises through sales of their

This series of cash transactions is designed to provide

own securities.

It excludes changes in the public debt which

information on the flow of money between the public and the

do not represent direct cash borrowing from the public.

The

Federal Government as a whole, and therefore includes trans-

net effect of all these transactions with the public is re-

actions not cleared through the account of the Treasurer of

flected in changes in the balance in the Treasurer'

the United States.

and in cash held outside the Treasury.

Receipts and payments include transactions

both in administrative budget accounts and in trust and deposit

s

account

Seasonally adjusted summary data are shown in table

3.

Major intragovemmental transactions which are

The adjusted data have been derived by applying a seasonal

reported as both expenditures and receipts are excluded from

adjustment formula developed by the Bureau of Census, Depart-

fund accounts.

both.

Noncash items representing the obligations of the

Government to make payments in the futiire also are eliminated

ment of Commerce.

..
..

.

17

September 1966
CONSOLIDATED CASH TRANSACTIONS

Table

1.

-Summary

of Federal

Government Cash Transactions with the Public
(In millions of dollars)

Federal receipts from the public

Fiscal year
or month

Administrative budget
receipts
(net)

Trust
receipts
(net)

Intragovernmental and
other
noncash
transactions
(See Table 2)

federal payments to the public

Less:

Total
Federal
receipts
from the
public

Administrative budget
expenditures

Intragovernmental and
other
noncash
transactions
(See Table 2)

Trust fund
expenditures (net)

(net)

Total
Federal
payments
to the
public

Equals:

Excess of cash
receipts from,
or payments
to (-), the
publ ic

I960
1961
1962
1963
1964
1965
1966 P

70,562
68,550
67,915
77,763
77,659
81,i09
86,376
89,459
93,072
104,631

14,301
16,153
16,769
20,342
23,583
24,290
27,689
30,331
31,047
34,852

-2,758
-2,811
-3,025
-3,027
-4,001
-3,834
-4,326
-4,259
-4,420
-5,100

82,105
81,892
81,660
95,078
97,242
101,865
109,739
115,530
119,699
134,382

68,966
71,369
80,342
76,539
81,515
87,787
92,642
97,684
96,507
106,917

12,938
15,325
19,521
21,212
22,793
25,141
26,545
28,885
29,637
34,788

-1,899
-3,222
-5,111
-3,423
-4,766
-5,266
-5,436
-6,237
-3,749
-4,114

80,006
83,472
94,752
94,328
99,542
107,662
113,751
120,332
122,395
137,592

1967 (Est.)

111,000

41,608

-7,068

145,539

112,847

37,882

-5,681

145,048

491

7,350
10,999
3,295
8,106
9,553

4,572
1,954
1,262
3,012
1,935

-328
-354
-274
-390
-650

11,595
12,599
4,283
10,728
10,838

8,990
9,452
8,750
9,105

960
-1,504
-679

9,426

2,349
3,142
2,447
2,707
2,636

-942

12,299
11,090
10,518
12,312
11,121

-705
1,509
-6,234
-1,584
-283

6,453
8,335
11,297
9,929
8,452
17,054

951
4,181
2,745
2,215
5,812
4,795

-313
-116
-238
-290
-348
-1,556

7,091
12,400
13,804
11,853
13,916
20,294

8,809
8,156
10,193
8,362
9,055
9,378

3,048
2,621
2,996
3,335
3,632
3,455

-624
486
-1,103
-372
134
-1,006

11,233
11,264
12,086
11,325
12,821
11,827

-4,142
1,136
1,718

July
August

5,702

2,837

-436

8,103

10,263

3,642

-978

7,197

4,973

-407

11,764

11,042

2,627

1,537

12,927
15,206

-4,824
-3,442

Fiscal 1967 to date

12,899

7,810

-S43

19,866

21,305

6,269

559

28,132

-8,266

1957
1958
1959

1965-August
September.
October
November
December

.

.

1966-January
February
March
April
May
June p

Cash torrouing from the public, or repayment (-)

Plus:

Change in securities held by the public

Fiscal year
or month

Public
debt increase, or
decrease (-)

,224
,316
,363

1957
1958
1959
1960
1961
1962
1963
1964
1965
1966 p

,C'25

,640
,230
,659
,853
,561
,633

Net sales
of Government agency
securities in
market l/

i.m

Net investment
in securities by
Government
agencies 2/

Total

securities
held by
the public,
increase, or
decrease (-)

2-93

14
26
36
32
48

-858
1,010
-2,852

974
-177

148
24
-141
-81

60
48
71
66
94
144

-1,076
973
-224
453
1,370
4,330

171

-P04

-66
45

3,177
-255
-1.924
486
-243
-3,921

-44
90
627
-423
359

929
-134
1,080
947
4,689

-65
-130

-63

21

2,377

77

-4,613
-850

-253
-139

-4,866
-989

-195

2,3U

97

-5,463

-392

-5,855

-383
-332
3,495
2,460

-307

265
260
341
732
1,070
814

1,897

-4,023
-2,327

3,261
-181
-1,973
486
-177
-3,966

83

.

.

.

1,099
1,308
-2,312
-1,416
2,777
-2,452

July
August .

.

.

-627
5,141

297
470

333
-3,103

2,507

4,513

766

-2,771

2,509

Actual figures are based on the monthly statement of receipts
and expenditures of the Government and the daily Treasury statement
(for explanation of reporting bases, see page II) j estimates, including effect of proposed legislation, are from the 1967 Budget document
released January 24, 1966.
See "Trust and Other Transactions", Table 5, for net sales and

2

Soiirce:

1/

-952
4,299
-4,422
2,651
-1,533
3,854
1,611
-874
1,749

-385
-378
3,370
2,385
-24

-•,515
1,210
1,308
-519
935

Fiscal 1967 to date.

changes
in the
cash
balance

-46
-125
-75
-107

473
-49
33
168
-45

May
June p

Total

1,568

1,338

-2
1,170

Cash held
outside
the
Treasury

-2,060

,658
,493
,154
,810

March
April

-956
4,159
-4,399
2,654
-1,311
3,736
1,686
-1,080
1,575
-203

s

-289

,335

-1 .7<.V

Treasurer'
account

3,U1

4,958
4,578

1965-August

1966-January. .
February .

decrease (-)

Seigniorage

-1,771

5)619
10,785
2,446
1,248
10,517
6,612

1967 (Est.)

October. .
November.
December,

Plus:

69
117
649

4,078

,

1,746
-537
1,780
1,022
1,880
1,372

Cash balances,
Equals:
net increase, or

Total
Noncash
cash
debt
borrowing
transfrom the
actions
public,
(See Table 2) or repayment (-)

-3,100
5,820
8,626
1,848
712
9,594
5,579
3,859
4,328
2,610

-3 392

1

528
1,095
8,466

292
200
-2,160
-597
-536
-923
-1,033
-1,099
-250
-530

-2,339
-597
1,130
-925
-855
-493
-2,069
-2,775
-2,356
-3,571

400

-4,944

Septeniber.

500

2,099
-1,580
-13,092
750
-2,300
-5,797
-4,012
-4,802
-2,696
-3,210

2/
3,/

''

p

-84
-74
50

49
59

44
53
55

58

45

5

140
-23
-4
-222
118
-74
206
174
253

-215

50

-1,073
1,157
-2,828
833
-259

redemptions of Governnent agency securities in market.
See "Trust and Other Transactions", Table 4, for net investments in
public debt and agency securities.
Includes increment resulting from reduction in the weight of the gold
dollar; excluded from receipts from the public but included in cash
deposits in the Treasurer's account,
Preliminary.

18

Treasury Bulletin
•CONSOLIDATED CASH TRANSACTIONS

Table

2.

-

Intragovernmental and Other Noncash Transactions

..

September 1966

19

•

Table

3.

-

CONSOLIDATED CASH TRANSACTIONS

Federal Receipts from and Payments to the Public
Seasonally Adjusted and Unadjusted
(in millions of dollarsj

Receipts from the Public

Payments to the Public

Calendar quarter
Adjusted

Unadjusted

Adjusted

Unadjusted

Excess of Receipts
or Payments (-)
Adjusted

Unadjusted

1957 - 1st..
2nd..
3rd..
ith..

20,820
21,403
21,172
20,616

24,617
24,846
18,653
16,404

20,792
20,947
20,919
20,663

21,574
21,099
20,909

28
456
253
-47

4,803
3,272
-2,446
-4,505

1958 - 1st..
2nd..
3rd..
4th..

20,509
20,088
20,299
20,

UA

23,618
23,219
13,274
16,618

20,652
21,296
23,4A1
23,412

19,626
21,840
23,734
23,750

-143
-1,208
-3,142
-2,968

3,992
1,379
-5,460
-7,132

1959 - 1st..
2nd..
3rd..
4th..

20,222
20,923
23,273
23,474

22,628
24,lil
21,364
19,A20

24,024
23,962
24,005
23,514

22,764
24,503
24,375
23,917

-3,802
-3,039
-732
-40

-136
-362
-3,011
-4,497

1960 - 1st..

3ra..
4th..

23,667
24,701
25,034
24,665

25,776
28,519
23,352
20,640

23,233
23,635
23,682
24,105

21,958
24,079
24,156
24,540

434
1,066
1,352
560

3,818
4,440
-8O4
-3,900

1961 - 1st..
2nd..
3rd..
4th..

23,227
24,614
24,783
25,298

24,758
28,491
23,381
21,289

24,802
27,025
26,117
26,623

23,402
27,444
26,715
27,173

-1,575
-2,411
-1,329
-1,330

1,356
1,047
-3,334
-5,884

1962 - 1st..
2nd..
3rd..
4th..

24,971
26,652
27,434
27,262

26,

2U

30,981
26,029
22,982

27,540
27,498
27,795
28,954

25,923
27,851
28,502
29,599

-2,569
-846
-361
-1,692

291
3,130
-2,473
-6,617

1963 - 1st..
2nd..
3rd..
4th..

27,069
27,911
28,699
29,113

28,178
32,551
27,304
24,543

28,209
28,847
30,127
29,881

26,519
29,130
30,952
30,619

-1,140
-936
-1,428
-768

1,657
3,420
-3,648
-6,077

1964 - 1st.
2nd..
3rd..
4th..

29,251
28,582 1/
28,401
28,847

30,321
33,362
27,035
24,312

30,597
29,815
30,039
29,828

28,706
30,054
30,913
30,599

-1,346
-1,233
-1,638
-981

1,615
3,309
-3,877
-6,287

1965 - 1st..
2nd..
3rd..

29,724
32,646 1/
30,646
30,685

30,669
37,683
29,175
25,849

30,165
32,395
32,104
33,098

28,270
32,614
33,085
33,951

-441
251
-1,458
-2,413

2,398
5,069
-3.910
-8,101

33,684
39,567 1/

33,295
46,063

36,908
35,758

34,583
35,973

-3,224
3,309

-1,288
10,089

2rid..

4th

.

1966 - 1st..
2nd p

Adjusted data from Bureau of the Budget; unadjusted data
from Treasury Department.
Includes accelerated corporate tax payments of about $300 million
in 1964, $900 million in 1965, and $2,800 million in 1966.
Also,

Source:
1/

19,8U

the 2nd quarter of 1966 includes about $300 million for the
initiation of graduated withholding of personal income taxes and
$1,400 million because of a change in the schedule for depositing
withheld and OASI taxes.

Preliminary.

...
.

Treasury Bulletin

20
ACCOUNT OF THE TREASURER OF THE UNITED STATES

,

Source and Availability of the Balance in the Treasurer's Account
the same bank.

The account of the Treasurer of the United States re-

On occasions, to the extent authorized by the

flects not only budget receipts and expenditures but also

Treasury, banks are permitted to deposit in these accounts

deposit fund, and public debt transactions.

proceeds from subscriptions to public debt securities entered

trust,

for their own account as well as for the account of their

The working cash of the Treasury is held mainly in

customers.

Treasurer's accounts with Federal Reserve banks and branches.
As the balances in these accounts become depleted, they are

The tax and loan account system permits the Treasury to

restored by calling in (transferring) funds from the tax and

leave funds in banks and in the communities in which they arise

loan accounts with thousands of commercial banks throughout

until such time as the Treasury needs the funds for its opera-

the country.

tions.

In this way the Treasury is able to neutralize the

effect of its fluctuating operations on bank reserves and the

Deposits to tax and loan accounts occur in the normal
course of business under a uniform procedure applicable to all

economy.
A detailed description of the Treasury's depositary system

banks whereby customers of banks deposit with them tax pay-

ments and funds for the purchase of Government securities.

may be found in the Annual Report of the Secretary of the

In most cases the transaction involves merely the transfer of

Treasury for 1955, pages 275-28^.

money from a customer's account to the tax and loan account in

Table

1. -

Status of the Account of the Treasurer of the United States
(In millions of dollars)

Treasury operating balance

End of
fiscal year
or month

Available
funds in
Federal
Reserve
Banks

104
107
110

3,360
4,399
4,444
4,491
6,003
10,050

105
105
108
105
102
102

1,232

5,147

1,6U

4,0U

102
112

916
1,002
1,053
719
708

1966-January
February
March. .
April. .

823
805
521
512

May

902
766

.

.

.

June

July
August.

.

Total
operating

Treasury

5,548
6,394
3,534
4,872
4,577

535

1965-August..
September
October.
November
December.

in

489
401
101
106
109
121
120
120
108
102

504
408
612
806
939
672
766

1964
1965
1966

Gold
balance

4,082
8,218
3,744
6,458
5,453
8,815
10,324
9,180
10,689
10,050

498
410

1957
1958
1959
1960
1961
1962
1963

Tax and loan
accounts in
special
depositaries

103
107

Silver
balance,
coinage
metal,
coin, and
currency

In Federal

Unclassified
collections,
etc.

uo
365
429
375
335
441
313
360
320
252

6,037
9,990
5,451
8,092
6,769
10,509
12,116
11,036
12,610
12,407

145
220
188
182
247

291
312
291
274
257

7,627
8,637
5,786
6,759
6,582

7,627
8,637
5,786
6,759
6,582

64
93

234
216
217
647
182
370

310
281
236
347
212
252

5,506
6,479
6,255
6,708
8,077
12,407

5,506
6,479
6,255
6,708
8,077
12,407

102
69

230
176

209
208

7,794
6,944

7,794
6,944

37
49
63
58
64

9,548
11,251
10,233
11,469
10,917
6,569
7,503
4,697
5,693
5,392

561
551
553
538
558

62

4,288
5,309
5,074
5,107
7,007
10,917

586
586
570
572
612
775

6,481
5,740

772
751

5,969

Source:
Daily Treasury statement.
Includes reserves and other deposits of the Board of Trustees, Postal
1/
Savings System, and uncollected items, exchanges, etc., through
December 1962.
Effective January 1963 balances of the Postal Savings
System funds were transferred to deposit fund accounts and became
demand obligations of the Treasury.
Balances of these funds, therefore, are no longer liabilities within the general account of the
Treasurer.
Uncollected items, exchanges, etc., also previously shown
as liabilities were combined with "Unclassified collections, etc."
shown under assets.
Treasurer' s checks outstanding are included

70
74
58
55

93

51
57

73
129
89
87

158
34

2/

^/

In other
Total
depositaries assets

302
287
273
337
222
303
342
234
233
370

190
259
306
253
179
147
136
145
534
775

5,069

9,030
4,380
7,068

Reserve
Banks in
process of
collection

Balance in
Liabilities account of
1/
Treasurer
of United
States

y

447
240
100 2/
87
75
79

5,590
9,749

5,350^
8,005
6,694
10,430
12,116
11,036
12,610
12,407

through June 1958, after which they are included in the balance in
the Treasurer's account,
(See footnote 2).
Through June 1958, the balance of the Treasurer was reduced when
Treasurer's checks were issued and the amount of the checks was
carried as a liability until paid.
Effective July 1958, the balance
is not reduced until the checks are paid, a procedure also applying
to checks drawn on the Treasurer by Government disbursing officers
and agencies.
Amounts shown, beginning January 1963, are net of uncollected items,
exchanges, etc.
Previously these items were included under liabilities.

..

September 1966

21
,

Table

2.

-

ACCOUNT OF THE TREASURER OF THE UNITED STATES

Analysis of Changes in Tax and Loan Account Balances
(In millions of dollars)

Balance

Credits
Proceeds from sales of securities X^
Fiscal year
or month

Savings
bonds

1957
1958
1959
1960
1961
1962
1963
1964
1965
1966

5,043
2,922
7,581

,679
,787
,725
,699
,760
,635
,70i

7,784
7,613
5,898
2,963

210
193
196
200
211

1966- January. .
February.

261
218
265
246
242
232

.

March
April
May
June

July
August.

.

.

.

Tax
anticipation
securities

,976
824
668

1965-Augu3t. ..
September.
October.
November
December.
.

Retirement
plan
bonds 2/

242
23S

2,340
7,368

Other

During period

Witheld
and
excise

6,568
13,513
13,164
7,920
1,788
3,774
3,830
2,014
1,627

^

26,709
,

29,190
33,059
34,511
37,519
41,267
43,580
42,475
48,478

1,627

2,911

4,470
5,555

End of
period

High

Average

46,000
50,908
62,994
54,782
56,847
53,076
56,085
59,421
58,540
75,338

4,082
8,218
3,744
6,458
5,453
8,815
10,324
9,180
10,689
10,050

6,078
8,869
8,055
6,458
7,653
8,889
10,324
10,257
10,872
11,274

313
1,078
912
1,390
1,161
1,531
2,535
1,577

U7

2,987
3,246
3,638
4,103
4,151
4,457
5,325
4,747
5,431
4,324

1,924

5,752
8,536
5,337
7,592
6,159

6,537
7,690
8,198
6,253
6,453

5,548
6,394
3,534
4,872
4,577

6,521
6,948
6,001
5,186
5,124

5,197
1,806
2,533
1,427
1,253

5,962
4,349
4,431
2,881
3,401

53

4,374

2,193
2,612
743
2,626

5,939
7,591
4,114
7,526
10,016

5,591
4,900
7,546
4,067
6,013
5,969

3,360
4,399
4,444
4,491
6,003
10,050

4,581
4,856
5,101
4,491
6,715
10,050

1,374
2,382
1,002

4,347
1,700

3,120
3,630
3,252
2,269
5,677
4,812

4,840
8,704

9,743
9,838

5,147
4,014

9,979
5,905

5,147
2,286

6,917
4,049

4,223
76

1,447
5,721
5,133
1,256
6,540
7,15B

Total
credits

45,448
55,044
58,520
57,496
55,842
56,438
57,595
58,277
60,050
74,699

4,152
7,903
5,919
6,053
9,142
6,521
6,835
9,921
12,598
14,522

27 881

5,542
4,120
1,134
4,940
4,024

3,931
2,452

985

Income (by
special
arrangement) J^/

Withdrawals

128

1,8U

U7

_1_

Office of Fiscal Assistant Secretary; figures are on basis of
telegraphic reports.
Special depositaries are permitted to make payment in the form of a
deposit credit for the purchase price of U.S. Government securities
purchased by thera for their own account, or for the account of their
customers who enter subscriptions through them, when this method of
payment is permitted under the terms of the circulars inviting subscriptions to the issues.
Retirement plan bonds first offered for sale as of January 1, 1963.
Taxes eligible for credit consist of those deposited by taxpayers in
Withheld income tax beginning
the depositary banks, as follows:

Source:
1/

2/

^

•

March 1943; taxes on employers and employees under the Federal Insurance Contributions Act beginning January 1950, and under the Railroad
Retirement Tax Act beginning July 1951; and a number of excise taxes
beginning July 1953.
Under a special procedure begun in March 1951, authorization may be
given for income tax payments, or a portion of them, made by checks
of $10,000 or more drawn on a special depositary bank, to be credited
This procedure is followed
to the tax and loan account in that bank.
during some of the periods of heavy tax payments.
Less than $500,000.

..
...

.
.

Treasury Bulletin

22
•ACCOUNT OF THE TREASURER OF THE UNITED STATES

Table

3.

-

Summary

Cash Transactions through the Account of the Treasurer

of

of the United States
(In millions of dollars)

Net cash transactions other than borrowing

Fiscal year
or month

Deposits and withdrawals (budget,
trust, and other accounts)
Cash
deposits

Cash withdrawals 1/

Excess of deposits,
or withdrawals (-)

Clearing
accounts
2/

-510
1,259
1,039
-1,491
-584
-1,075

-956
4,159
-4,399
2,654
-1,311
3,736
1,686
-1,080
1,575
-203

-1,197
2,479
-6,723
-1,408
-509

807
-1,090
491
206
354

-390
1,390
-6,232
-1,203
-155

-469
-380
3,379
2,176
-22

-858
1,010
-2,852

10,731
12,821
12,280
11,007
14,874
10,964

-2,984
1,184
1,601
712
1,387
8,242

-1,228

3,136
-291

263
-847
342
293

-4,212
1,264
1,864
-134
1,729
8,535

-359
-4,204

-1,076
973
-224
453
1,370
4,330

9,029
13,207

12,557
17,447

-3,528
-4,240

-844
570

-4,372
-3,670

-241
2,820

-4,613
-850

22,236

30,004

-7,767

-274

-8,042

4,596
-2,921
-12,124
1,044
-877
-6,278
-4,023
-2,485
-931
-1,095

-1,904
1,827
-306

12,909
12,584
4,591
11,913
10,715

14,106
10,105
11,314
13,321
11,223

March
April
May
June

7,748
14,004
13,881
11,720
16,261
19,205

July
August

1965-August
September. .
October
November ....
December. .
.

1966- January
February ....

Fiscal 1967 to date

borrowing (-)

Equals:
Treasurer's
account balance, increase, or decrease {-)

-3,648
5,253
8,032
1,301
76
8,755
4,670
2,895
3,089
1,968

77,279
85,015
93,736
93,817
97,774
112,188
118,477
124,047
126,395
142,191

1966

Plus:
Net cash borrowing, or repayment of

2,692
-1,094
-12,430
1,353
-1,337
-5,018
-2,984
-3,975
-1,515
-2,171

81,875
82,094
81,612
94,862
96,897
105,911
114,454
121,562
125,464
141,095

1957
1958
1959
1960
1961
1962
1963
1964
1965

Total net
transactions

Figures
Source:
Actual figures are based on the daily Treasury statement.
in the first four columns of this table may differ somewhat from those
originally published in the daily Treasury statement because of subsequent reclassification of certain transactions.

Table

4.

-

Gold Assets and

309

80

1/

2/

-2,089
587

',79

974
-177

-5,463

Bulletin, figures have been revised,
Beginning with the February
as shown in daily Treasury statements beginning January 2, 1963, to
exclude transactions of clearing accounts.
Previously included under cash withdrawals. See footnote 1.
19ti3

Liabilities of the

Treasury

(In millions of dollars)

End of calendar year or month

Gold assets 1/

Liabilities:
Gold certificates,
etc. 2/

Balance of gold in
Treasurer's account

22,781.0
20,534.3
19,455.9 i/
17,766.6
16,889.0
15,978.1
15,513.0
15,387.7
13,733.2

22,272.9
20,138.2
19,350.5
17,665.6
16,771.2
15,852.1
15,392.9
15,231.5
13,626.4

508.1
396.1
105.4
101.0
117.8
126.0
120.1
156.7
106.3

1965-August..
September
October.
November
December.

13,857.0
13,857.6
13,857.2
13,804.9
13,733.2

13,752.4
13,751.0
13,747.2
13,702.5
13,626.4

104.6
106.7
110.0
102.4
106.8

1966- January .
February.
March. .
April.
May
June

13,732.2
13,730.2
13,633.5
13,632.0
13,532.2
13,433.5

13,627.6
13,625.3
13,525.0
13,527.2
13,430.5
13,331.7

104.6
104.9
108.5
104.7
101.6
101.8

13,331.5
13,259.0

13,229.8
13,147.0

101.7
112.0

1957
1958
1959
I960
1961
1962
1963
1964
1965

V

.

.

July
August.

.

.

Source:
Circulation Statement of United States Money through 1965; daily
Treasury statement thereafter.
1/ Treasury gold stock; does not include gold in Exchange Stabilization
Fund.
See "International Financial Statistics," Table 1.
Comprises (1) gold certificates held by the public and in Federal
2/
Reserve Banks; (2) gold certificates credits in (a) the gold certificate fund - Board of Governors, Federal Reserve System, and (b) the
redemption fund - Federal Reserve notes; (3) reserve of $156.0 million
against United States notes and through June 30, 1961, Treasury notes

y
V

of 1890; and (4) gold deposited by and held for the International
Monetary Fund,
The United States payment of the $343.8 million increase in its gold
subscription to the International Monetary Fund, authorized by the
act approved June 17, 1959 (22 U.S.C. 286e) was made on June 23, 1959.
The United States payment of the *258.8 million increase in its gold
subscription to the International Monetary Fund, authorized by
P.I. 89-31, approved June 2, 1965, (79 Stat. 119) was made on June 33,
1965.

,.,..,.,

September i966

23
MONETARY STATISTICS.

Table

1. -

Money

in Circulation

(In millions of dollars except per capita figures)

Currencies no longer issued

End of

Federal
Reserve
bank
notes

Currencies presently
being issued l/
Federal
Reserve
notes 2/

Treasury
notes of
1890

Total
currencies

Gold
certificates 2/

Silver
certificates

68
6i

37
36
22
21

33
32
31
30
30
29
20
19
13
4

2,162
2,200
2,155
2,127
2,094
2,009
1,847
1,723
829
582

196i- December .

70

23

13

1,232

299

34,573

36,214

1965- July
August. .
September
October. .
November.
December.

68
67

22
22
22
22
22
22

13
13
13
13

786
753
722
698
681
651

299
302
302
301
305
299

35,016
35,253
35,506
35,793
36,777
36,973

36,208
36,414
36,635
36,898
37,868
38,029

1966-January. .
February.

66
66
65
65

13
13
13
13
13

64

22
22
22
22
22
21

629
619
609
597
591
582

291
294
296
298
302
303

36,007
36,139
36,308
36,348
36,875
37,315

37,032
37,156
37,313
37,346
37,872
38,290

6i

21

575

300

37,457

38,423

fiscal year
or month

1957
1958
1959
1960
1961
1962
1963
196i
1965
1966

13

National
bank
notes

62

3

120
110
100

59
57
56
54
53

9i
85

78
73

.

March
April
Hay
June

67
66
6.j

65

July

End of
fiscal year
or month

1957
1958
1959
1960
1961
1962
1963
1964
1965
1966

4

37
37
37
36
36
18
18

4
1

321
317
316

318
318
318
319
321
302
303

Federal
Reserve
notes 4/
26,291
26,304
26,992
27,057
27,316
28,586
30,274
32,338
34,820
37,315

29,040
29,071
29,699
29,726
29,943
31,117
32,592
34,529
36,058
38,290

Money in
circulation
per capita

Fractional
coin

Total
coin

Total
money in
circulation

482
482
482

1,789
1,833
1,929
2,033
2,133
2,293
2,466
2,723
3,180
3,782

2,042
2,101
2,215
2,338
2,462
2,652
2,878
3,205
3.662
4,264

31,082
31,172
31,914
32,065
32,405
33,770
35,470
37,734
39,720
42,554

181.52
179.08
180.20
177.47
176.45
180.98
187.30
196.41
204.14
216.13

Standard
silver
dollars
253
268
285
305
329
360
411

1964-December

13
13

38

United
States
notes

V

(

in dollars) 6/

482

2,923

3,405

39,619

204.75

1965- July
August.
September,
October.
November.
December.

482
482
482
482
482
482

3,208
3,269
3,326
3,374
3,474
3,545

3,689
3,751
3,808
3,856
3,956
4,027

39,897
40,165

204. 83r

40,754
41,824
42,056

205.95
207.14
208.52
213.79
214.78

1966-January.
February .
March.. ..,
April. . .
May
June

482
482
482
482
482

3,578

482

3,670
3,711
3,749
3,782

4,060
4,096
4,152
4,192
4,231
4,264

41,092
41,252
41,469
41,538
42,102
42,554

209.65
210.29
211.22
211.39
214.08
216.18

July

482

3,803

4,285

42,708 2/

216.75

.

.

.

.

.

.

Circulation Statement of United States Money through December 1965;
thereafter, Statement of United States Currency and Coin.
Excludes gold certificates. Series of 1934, which are issued only to
Federal Reserve banks and do not appear in circulation.
Issued prior to January 30, 1934.
Issued prior to July 1, 1929.

Source:
1/

2/

2/

3,6U

^
^
6/
7/

40, U3

Issued on and after July 1, 1929.
Excludes money held by the Treasury and money held by or for the
account of the Federal Reserve banks and agents.
Beginning
Based on the Bureau of the Census estimated population.
fiscal 1959 estimates include Alaska, and fiscal 1960, Hawaii.
Highest amoTont to date.
Revised.
r
Less than $500,000.

..

..
.

.

Treasury Bulletin

24
DEBT OUTSTANDING

Table

1.

-

Summary

of Federal Securities

(In millions of dollars)

End of
fiscal year
or month

Matured debt and debt bearing no interest

Interest-bearing debt

Total outstanding

Public debt

Total 1/

Public
debt 2/

Guaranteed
securities

Total

Public
debt

Guaranteed
securities

Special notes to
Total

Total

Matured

y
1957
1958
1959
1960
1961
1962
1963
1964
1965
1966

270 ,63i
276 4U
ZSA 817
286 ,471
289 ,211
298 ,645
306 ,466
312 ,526
317 ,864
320 ,369

270,527
276,343
284,706
286,331
288,971
298,201
305,860
311,713
317,274
319,907

1965-Auguat
September.
October..
November.
December.

318,742
317,270
319,394
322,176
321,359

318,240
316,748
318,901
321,711
320,904

1966- January.
February .
April
May
June

322,419
323,746
321,454
320,051
322,825
320,369

July. .
August.

319,768
324,904

.

March

Monetary
Fund
107
101
111
140
240

268,592
274,798
281,944
283 , 380
285,911
294,886
302,559
308,169
313,702
315,892

268,486
274,698
281,833
283,241
285,672
294,442
301,954
307,357
313,113
315,431

502
522
493
465
455

3U,396

313,896
312,359

499

3U,557

322,003
323,311
320,999
319,583
322,359
319,907

416
435
456
468
466
462

319,280
324,420

489
484

444
607
813
590

462

106
101
110
139
240

2,042
1,646
2,873
3,090
3,300
3,759
3,907
4,357
4,163
4,477

2,042
1,646
2,873
3,090
3,299
3,759
3,906
4,356
4,161
4,476

317,357
316,515

490
462
453

4,346
4,391
4,347
4,357
4,391

318,012
319,354
317,036
315,686
318,392
315,892

317,599
318,921
316,582
315,219
317,927
315,431

413
433
454
467
464
460

315,368
320,179

314,88c
319,697

488
483

312,879
315,047
317,819
316,968

444
605
812
589

460
519

Daily Treasury statement.
Includes certain debt not subject to statutory limitation. For amounts
subject to limitation, see page 1.
Includes debt incurred for advances to certain wholly owned Government
agencies in exchange for which their securities were issued to the

Soiirce:

1/
2/

Table

2.

-

International

International
Development
Association

InterAmerican
Development Bank

Other
1/

349
438
310
295
292
308

1,068
618
1,979
2,238
2,496
2,667
2,922
3,289
3,167
3,614

58
115
129
142
138
64

55
125
150
150
132

4,344
4,388
4,345
4,355
4,389

227
234
195
244
278

3,434
3,494
3,489
3,470
3,470

138
118
118
100
100

150
150
150
150
150

394
393
393
391
391

4,407
4,392
4,418
4,366
4,433
4,477

4,404
4,391
4,417
4,364
4,432
4,476

230
246
245
197
233
308

3,558
3,548
3,592
3,597
3,627
3,614

82
82
64
64
64
64

142
142
142
136
136
132

392
372
373
371
373
359

4,401
4,724

4,400
4,724

202
286

3,680
3,923

45
45

126

347
347

y
4/

^

529
597

476
445

Guaranteed
securities
(matured)

y

444
430
417
407
396
484
420
480
414
359

122

Treasury (see Table 6)
Held outside the Treasury.
Consists of Federal Housing Administration debentures and beginning
July 1959 D. C. Armory Board stadium bonds.
For current month detail, see "Statutory Debt Limitation," Table 2.

Computed Interest Charge and Computed

Interest Rate on Federal Securities

(Dollar amounts in millions)

Computed annual interest rate

Total interest-bearing securities

End of
fiscal year
or month

Amount
outstanding

Public debt
and guaranteed securities 1/

1957
1958

268,592
274,798

1959
1960
1961
1962
1963

231,

Public
debt

1964
1965
1966

283,380
285,911
294,886
302,559
308,16^
313,702
315,892

1965-August
September.
October.
November .
December

314,396
312,879
315,047
317,819
316,968

1966-January
February
March
April
May
June

.

. .

July. .
August.

.

Public debt
and guaranteed securi-

Public
debt

Public debt
Total
interestbearing
securities

Marketable issues
Total
public
debt

ties 1/

268,486
274,698
281,833
283,241
285,672
294,442
301,954
307,357
313,113
315,431

.

Computed annual
interest charge

7,328
7,248
8,069
9,320

Nonmarket-

Total
2/

Bills Certificates

y

8,769
9,534
10,141
10,931
11,488
12,533

7,325
7,245
8,066
9,316
8,761
9,519
10,119
10,900
11,467
12,516

2.730
2.638
2.867
3.297
3.072
3.240
3.361
3.561
3.678
3.988

2.730
2.638
2.867
3.297
3.072
3.239
3.360
3.560
3.678
3.988

3.063
3.285
3.425
3.659
3.800
4.134

3.197
1.033
3.316
3.815
2.584
2.926
3.081
3.729
4.064
4.845

313,896
312,359
314,557
317,357
316,515

11,530
11,487
11,607
11,796
11,846

11,512
11,468
11,590
11,779
11,830

3.683
3.688
3.702
3.730
3.756

3.683
3.688
3.702
3.730
3.756

3.800
3.807
3.821
3.857
3.890

4.047
4.074
4.097
4.154
4.273

318,012
319,354
317,036
315,686
318,392
315,892

317,599
318,921
316,582
315,219
317,927
315,431

11,998
12,265
12,429
12,306
12,564
12,533

11,983
12,249
12,412
12,289
12,547
12,516

3.792
3.860
3.940
3.918
3.967
3.988

3.793
3.861
3.941
3.919
3.967
3.988

3.934
4.026
4.059
4.071
4.130
4.134

4.395
4.522
4.671
4.710
4.780
4.845

315,368
320,179

314,880
319,697

12,537
12,991

12,520
12,973

3.996
4.079

9U

Source:
On the basis of the daily Treasury statement.
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 charge is computed for each issue by applying the appropriate annual interest rate
to the amount outstanding on that date ( the amount actually borrowed
in the case of securities sold at a premium or discount, beginning
with May 1960).
The aggregate charge for all interest-bearing issues
constitutes the total computed annual interest charge. The average
annual interest rate is computed by dividing the computed annual

2.707
2.546
2.891

3.U9

3.345
3.330
2.842
4.721
3.073
3.377
3.283

4.851

4.851
4.851
4.851
4.851
4.851
4.851

Special
issues

guaranteed
securities
1/

Notes

Treasury
bonds

2.504
2.806
3.304
4.058
3.704
3.680
3.921
3.854
3.842
4.321

2.482
2.576
2.619
2.639
2.829
3.122
3.344
3.471
3.642
3.655

2.853
2.892
2.925
3.219
3.330
3.364
3.412
3.462
3.493
3.713

2.635
2.630
2.694
2.772
2.803
2.891
3.003
3.238
3.372
3.693

3.500
3.658
3.782
3.660
3.632

3.848
3.848
3.860
3.934
3.933

3.652
3.652
3.652
3.652
3.653

3.506
3.510
3.519
3.523
3.530

3.398
3.382
3.383
3.397
3.412

3.615
3.640
3.620
3.603
3.593

3.932
4.162
4.158
4.164
4.321
4.321

3.653
3.654
3.654
3.655
3.654
3.655

3.534
3.537
3.862
3.708
3.713
3.713

3.429
3.472
3.488
3.455
3.552
3.693

3.555
3.573
3.598
3.625
3.631
3.632

able
issues

^

2.611
2.622
2.628
2.681

3.U4

4.321
3.655
3.717
3.690
3.673
3.996
4.H5 4.889 4-850
4.080
4.256
3.662
3.720
3.758
5.053 5.185
3.695
4.454
interest charge for the total, or for any group of issues, by the
corresponding principal amount. Beginning with data for December 31,
1958, the computation is based on the rate of effective yield for
issues sold at premium or discount. Prior to that date it was based
on the coupon rate for all issues.
1/ Guaranteed securities included are those held outside the Treasury.
2/ Total Includes "Other bonds" through 1960; see Table 3.
Included in debt outstanding at face amount, but discount value is
used in computing annual interest charge and annual interest rate.
4/ On United States savings bonds the rate to maturity is applied against
the amount outstanding.

y

, ....
.
.

..,
.

.

September 1966

25
DEBT OUTSTANDING

Table

3.

-

Interest-Bearing Public Debt
(In millions of dollars)

Public issues

Marketable

Total
interestbearing
public
debt

Total
public
issues

268,486
274,698
281,833
283,241
285,672
294,442
301,954
307,357
313,113
315.431

221,658
223,452
237,078
238,342
240,629
249,503
257,153
260,729
264,463
264,311

155,705
166,675
178.027
183,345
137,148
196,072
203,508
206,489
208,695
209,127

23,420
22,406
32,017
33,415
36,723
42,036
47,230
50,740
53,665
54,929

1965-Auguat
September,
October.
November
December.

313,896
312,359
314,557
317,357
316,515

264,116
264,290
267,600
270,304
270,260

208,402
208,331
212,097
214,619
214,604

53,657
53,655
57,660
60,172
60,177

1966-Jaiiuary.

317, 599

273,243
273,139
270,623
270,298
269,122
264,311
264,184
266,462

217,656
217,690
215,150
215,004
213,764
209,127
209,108
211,402

61,589
62,002
59,481
59,477
59,454
54,929

1,652
1,652
1,652
1,652
1,652
1,652

54,931
57,936

1,652
7,006

End of
fiscal year
or month

1957
1953
1959
1960
1961
1962
1963
196i
1965
1966

,

.

.

.

February.
March
April
May
June

July
August.

.

.

318,921
316,582
315,219
317,927
315,431
314,880
319,697

Nonmarketable

Treasury
Certificates

Total

20,473
32,920
33,843
17,650
13,338
13,547
22,169

1,652

Treasury
bonds 1/

30,973
20,416
27,314
51,433
56,257
65,464

67,284
52,549
50,649

65,953
61,777
59,050
54,497
53,431
53,431
53,645
54,240
55,768
55,183

54,622
51,984
50,503
47,544
47,514
47,607
48,314
49,299
50,043
50,537

11,135
9,621
8,365
6,783
5,830
4,727
3,921
3,546
3,256
2,692

50,435
50,444
50,175
50,215
50,227

104,310
104,282
104,262
104,232
104,201

55,714
55,909
55,503
55,685
55,655

50,155
50,180
50,259
50,320
50,324

3,252
3,243
2,816
2,809
2,797

50,244
50,831
50,891
50,793
50,647
50,649
50,650

104,171
103,155
103,126
103,083
102,011
101,397

55,587
55,449
55,473
55,293
55,358
55,133

50,319
50,335
50,383
50,420
50,483
50,537

2,780
2,774
2,757
2,704
2,694
2,692

101,874
100,558

55,075

50,606
50,646

2,691
2,684

52,

U5

45,902

Daily Treasury statement.
Includes $50 million of Panama Canal bonds for fiscal years 1957-60.
Consists of certificates of indebtedness, Treasury notes beginning
January 1963, and Treasury bonds beginning September 1964, sold to
foreign governments for U. 3. dollars.

Table

4.

-

U. S.
bonds,
savings investbonds
ment
series

80,839
90,932
84.853
81,297
80,830
75,025
81,964
88,464
102,481
101, ?97

Source:

1/
2/

Total

3/

i/

55,060

Depositary
bonds

196
171
183
170
117
138
103
103
59

Foreign
series
securities 2/

Foreign
currency
series
securities 3/

Other
4/

Special
issues

80O
648
392
1,132
817

75
630
332
1,137

19
25
29
68
141

957

137

46,827
46,246
44,756
44,899
45,043
44,939
44,801
46,627
48,650
51,120

864

136
136
136
136
134

49,780
43,069
46,957
47,052
46,255

48
49
49

1,0U

49

,144

1,259
1,259
1,208
1,208
1,208

47
47
47
47

,099
999
,039
949
992
817

1,207
1,157
1,107
1,031
1,007
957

135
136
140
143
137
137

44,356
45,781
45,959
44,921
48,805
51,120

747
697

884

104

50,696

884

104

?3.23?

4"^

44
45

1,034
,164

Consists of the dollar equivalent of Treasury certificates of
indebtedness and from October 1962 Treasury bonds issued and
payable In designated foreign currencies,
Includes Treasury bonds. Rural Electrification Administration series
beginning July 1960; retirement plan bonds beginning January 1963;
Treasury certificates; and Treasury bonds.

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

I''

{in rr.illion of dollars)

End of
fiscal year
or month
1957
1958
1959
1960
1961
1962
1963
1964
1965
1966

Maturity classes

Within
1 year

- 10

1 - 5

5

years

years

years

10 - 20

20 years
and over

Average length

155,705
166,675
178,027
133,845
137,143
196,072
203,508
206,489
208,695
209,127

71,952
67,782
72,953
70,467
81,120
88,442
85,294
81,424
87,637
89,136

40,669
42,557
58,304
72,844
58,400
57,041
58,026
65,453
56,193
60,933

12,323
21,476
17,052
20,246
26,435
26,049
37,335
34,929
39,169
33,596

26,407
27,652
21,625
12,630
10,233
9,319
8,360
3,355
3,449
8,439

16,328
17,241
17,023

4 yrs.
5 yrs.
4 vrs
4 yrs.
4 yrs.
4 yrs.
5 yrs.
5 yrs.
yrs.
yrs.

208,402
208,381
212,097
214,619
214,604

92,446
92,444
96,491
93,392
93,396

55,266
55,264
54,952
60,593
60,602

35,032
35,027
35,024
35,021
35,013

8,448
8,447
8,446
8,446
8,445

17,210
17,199
17,184
17,167
17,148

yrs.
yrs.
yrs.
5 yrs.
yrs.
5

96,461
94,226
91,704
91,820
92,231
89,136

60,608
62,893
64,306
64,076
62,453
60,933

35,013
35,008
33,607
33,603

8,4U

June

217,656
217,690
215,150
215,004
213,764
209,127

33,596

8,443
8,442
8,441
8,440
8,439

17,131
17,120
17,092
17,065
17,040
17,023

July. ..
August.

209,108
211,402

89,138
92,233

60,932
62,957

33,592
30,783

8,439
8,437

17,007
16,937

1965-August

September.
October.
.

Nsrvember.

December.
1966-January.
February.
.

March
April
May

t>ource:

1/

Amount
Outstanding

Office of Debt Analysis in the Office of the Secretary.
All issues are classified to final maturity except partially tax-exempt

3 J, 600

4,349
7,208
8,088
7,658
10,960
15,221

U,4U

4 yrs.

9 raos.
3

mos.

7 mos.

4 mos
6 mos.
11 mos
1 mo.
mo.
4 mos.
11 mos.
3 mos.
3 mos.

1 mos.

mos.
mos.

4 yrs.
4 yrs.
4 yrs.

10
11
11
10
11
11

4 yrs.

10 mos

4 yrs.

11 mos.

4 yrs.
4 yrs.

mos.
mos
mos
mos.
mos
mos.

bonds uhich have been classified to earliest call date. The last of these
bonds were called on August I4, 1962, for redemption on December 15, 1962.

26

Treasury Bulletin
DEBT OUTSTANDING

Table

5.

-

Special Public Debt Issues to United States Government Investment Accounts
(In millions of dollars)

. .

'

27

September 1966
DEBT OUTSTANDING

Table

6.

-

,

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

Agriculture Department
Agency
End of
fiscal year
or month

for

Total

International
Development 1/

Commodity
Credit
Corporation

Rural
Electrification
Administration

Secretary:
Farmers
Home
Administration
programs
2/

ExportImport
Bank of

Washington
2/

Housing and Urban
Development Department
Federal
National
Secretary
Mortgage
Association

V

^

1957
1958
1959
1960
1961
1962
1963
196i
1965
1966

22,731
21,859
25,343
25,636
26,011
28,634
29,166
29,241
28,354
26,964

1,198
1,188
1,164
1,138
1,107
1,062
807
735
712
689

13,383
11,528
12,874
12,704
11,534
12,990
13,599
13,990
13,111
11,768

2,519
2,728
2,923
3,155
3,332
3,484
3,657
3,828
4,075
4,234

265
256
323
369
456
854
1,027
1,170
1,235
1,436

1,205
1,528
1,937
1,636
1,698
1,830
1,476
830
513
178

282
476
730
977
1,213
1,567
2,005
2,302
2,753
3,133

1,741
1,502
2,351
2,338
3,202
3,167
2,716
2,393
1,899
1,466

1965-Augiist...

26,612
27,254
27,752
27,023
27,458

712
712
712
712
701

11,532
11,947

11,086
11,494

4,170
4,170
4,170
4,290
4,203

1,256
1,265
1,382
1,399
1,404

367
365
416
687
700

2,338
2,956
2,956
3,006
2,989

1,672
1,768
1,739
1,7-8

27,518
27,302
27,614
27,340
27,454

701
701
701
701
701
689

11,740
11,826
11,962
11,636
11,751
11,768

4,203
4,203
4,313
4,313
4,313
4,234

1,435
1,459
1,484
1,490
1,494
1,436

676
334
346
470

l,fc.j5

547
178

3,015
2,861
2,386
2,940
3,025
3,133

638

8,984
9,768

4,234
4,324

1,445
l,47u

225
313

3,228
3,243

September
October.
November.
December.
1966-Januaiy.
February.
March....
April ....

May
June
July
August .

26,%4
. .

24,710
25,480

12,

3U

Source: Daily Treasury statement.
Note:
These securities were issued to the Treasury in exchange for advances by the Treasury from public debt receipts under congressional
authorization for specified government corporations and other agencies
to borrow from the Treasury.
Further detail may be found in the 1965
Annual Report of the Secretary of the Treasury, pages 787-90, and the
1965 Combined Statement of Receipts, Expenditures and Balances of the
United States Government, pages 531-533.
And
predecessor agencies. Beginning fiscal 1957 figures exclude notes
1/
previously issued ty the Administrator in connection with informational
media guaranties. The obligation for these notes was assumed by the
Director of the United States Information Agency, pursuant to the act
approved July 13, 1956 (22 O.S.C. 1442), and the notes together with
others issued for the same purpose are included in "Other."
2/ Farm housing and other loan programs, and Agricultural Credit Insurance
Fund (formerly Farm Tenant Mortgage Insurance Fund)
2/ Includes securities transferred froB the Reconstruction Finance Corporation, but excludes securities issued under the Defense Production
Act.
Consists of notes issued to borrow for: The urban renewal program
(formerly slum clearance prograjn) ; college housing loans; and public
facility loans.
.

V

^

6/

2/

Other
6/

Saint
Lawrence
Seaway
Development
Corpo-

Tennessee
Valley
Authority

l*ation

41
35
27
29

Veterans'
Administration:
Direct
loan
program

Under
Defense
Production
Act
of 1950
2/

125

85
95
100

733
780
930
1,180
1,330
1,530
1,730
1,730
1,730
1,730

1,294
1,723
1,950
1,970
1,964
1,976
1,923
2,019
2,056
2,023

21
18
22
21
22
22
29
35
51
72

124
124
124
124
124

95
100
100
100
100

1,730
1,730
1,730
1,730
1,730

2,063
2,063
2,053
2,053
2,053

53
54
56

1,838
1,364
1,732
1,564
1,466

10
10
10
10
10
10

124
124
125
125
125
125

100
100
100
100
100
100

1,730
1,730
1,730
1,730
1,730
1,730

2,053
2,048
2,023
2,023
2,023
2,023

66
68
69
70
71
72

1,894

10

l,o6Ci

10

125
125

100
100

1,730
1,730

1,975
1,975

72
74

1,9

32
32
25

10

'2

48
97
112
118
121
121
123
123
124

50

55

58

Consists of liabilities taken over by the Association from the
Secretary in accordance with the act approved August 2, 1954, and
notes issued by the Association under authority of that act (12 U.S.C.
1719 (c), 1720 (d), and 1721 (d))ancl also securities transferred
from the Reconstruction Finance Corporation.
Public Housing Administration 1957-1963: Federal Housing Administration beginning January 1966.
Consists of notes of: The Administrator, General Services Administration, for defense materials procurement; the Secretary of Agriculture;
the Secretary of Interior (Defense Minerals Exploration Administration)
the Export-Import Bank of Washington through March 1962;
and the Secretary of the Treasury.
Consists of notes i?'-aed by the: Secretary of the Treas'ury; Small
Business Administration, fiscal year 1957; United States Information
Agency for informational media guaranties (see footnote 1) Secretary
of Commerce (Maritime Administration) for the Federal Ship Mortgage
Insurance Fund, fiscal years 1959-61 and 1963-65, beginning March 1963;
Virgin Islands Corporation beginning fiscal 1960; District of Columbia
Commissioners for the Stadium Sinking Fund beginning June 1962; and
Secretary of the Interior (Bureau of Mines) for development and
operation of helium properties beginning May 1964, and (Bureau of
Commercial Fisheries) for Federal Ship Mortgage Insurance Fund
beginning January 1966.
;

8/

other
8/

;

28

29

September 1966
.STATTJTORY DEBT LIMITATION.
The Second Liberty Bond Act (31 U.S.C. 757b), as amended

$285 billion outstanding at any one time.

A temporary increase

by an act approved June 30, 1959, provides that the face amount

to $330 billion has been authorized through June 30,

of securities issued under authority of that act, and the face

(act of June 24, 1966).

amount of securities guaranteed as to principal and interest
by the United States (except guaranteed securities held by the

1967

For a legislative history of the public debt limitation,
see the Annual Report of the Secretary of the Treasury.

Secretary of the Treasury) shall not exceed in the aggregate

Table

1. -

Status Under Limitation August

31.

1966

(In millions of dollars)

Maximum amount of debt which may be outstanding at any one time under limitation imposed by the act
of June 30, 1959 (31 U.S.C. 757b), as increased temporarily by the act of June 21, 1966

330,000

Amount outstanding subject to statutory debt limitation:
U.S. Government securities issued under the Second Liberty Bond Act, as amended
Guaranteed debt of U.S. Government agencies

32^,154
^84

Total amount outstanding subject to statutory debt limitation

32/ 533
'

Balance issuable under limitation

5,362

Table

2.

-

Application of Limitation to Public Debt and Guaranteed Debt
Outstanding August 31, 1966
(In millions of dollars)

Classification

Public debt :
Interest-bearing debt?
Public issues marketable:
Treasury bills
Certificates of indebtedness
Treasury notes
Treasury bonds

Subject to statutory
debt limitation

Not subject to statutory
debt limitation

Total
outstanding

—

Total public issues

— marketable

57,936
7,006
45,902
100,558

57,936
7,006
45,902
100,558

211,402

211,402

185
469
338

185
469
338

174
415
60

174
415
60
4
50,646

—

Public issues nonmarketable:
Certificates of indebtedness:
Foreign series
Foreign currency series
Treasury notes, Foreign series
Treasury bonds:
Foreign series
Foreign currency series
Treasury certificates
Treasury bonds
U . S. savings bonds
U.S. retirement plan bonds
Depositary bonds
Treasury bonds, R.E.A. series
Treasury bonds, investment series
Total public issues

— nonmarketable

Special issues to Government agencies and trust funds
Total interest-bearing debt

Matured debt on which interest has ceased
Debt bearing no interest:
Special notes of the United States:
International Monetary Fund Series
International Development Association Series
Inter-American Development Bank Series
Special bonds of the United States:
U.N. Special Fund Series
U.S. savings stamps
Excess profits tax refund bonds
U.S. notes (less gold reserve)
Deposits for retirement of national bank and Federal Reserve bank notes.
Other debt bearing no interest
Total debt bearing no interest
Total oubllc debt
Guaranteed debt of U.S. Government agencies:
Interest-bearing debt
Matured debt on which interest has ceased
Total guaranteed debt of U.S. Government agencies
Total public debt and guaranteed debt
Source:

Daily Treasury statement.

4

50,646
16
45
23
2,684

16
45
23

2,684

55,060

55,060

53,235

53,235

319,697

319.697

284

286

3,923
45
122

3,923

28

28

45
122

55
1

55
1

166
86
11

166
86

4,173

264

;37

324,154

266

324,420

266

324,904

11

483
1

484

324,638

484

Treasury Bulletin

30
PUBLIC DEBT OPERATIONS

Table

1. -

Maturity Schedule of Interest-Bearing Public Marketable Securities
Outstanding August 31, 1966
Other than Regular Weekly and Annual Treasury Bills

..
.

.

September 1966

31
PUBLIC DEBT OPERATIONS.

Table

1. -

Maturity Schedule of Interest-Bearing Public Marketable Securities

Outstanding August 31. 1966
Other than Regular Weekly and Annual Treasury Bills
(In millions of dollars)

Amount of maturities
Year
and

Held by
U.S. Govt,

month
of final
maturity
1/

Description
Total

'

1970
Feb

investment
accounts and
Federal Reserve Banks

All
other
investors

1/

1^73

Mar.

.

.

iS

Bond

2/15/70

4,381

430

3,952

Aug.

.

2-1/2?

Bond

3/15/65-70

2,307

682

1,625

Nov.

.

1-1/2?

Note

4/1/70 -EA

88

Aug

A%

Bond

8/15/70

4,129

Oct.

1-1/2?

Note

10/1/70-EO

113

Nov ....

5?

Note

11/15/70-A

7,675

1,383

6,292

18,694

2,901

15,792

372

1,025

Apr.

.

.

1971
Mar..

38

406

3,723

113

2-1/2?

Bond

3/15/66-71

1,396

Apr ....

1-1/2?

No^e

4/1/71-EA

22

May.

5-1/4?

Note

5/15/71-A

4,267

1,738

2,529

Aug

4?

Bond

8/15/71

2,806

596

2,210

3-7/8?

Bond

11/15/71

2,760

406

2,354

11,251

3,112

^139

Nov.

Year
and
month
of final
maturity

.

.

Total.

1972
Feb

4?

Bond

2/15/72

2,344

247

2,097

2-1/2?

Bond

6/15/67-72

1,270

124

1,146

Aug

4?

Bond

8/15/72

2,579

493

2,086

Sept.

2-1/2?

Bond

9/15/67-72

1,952

80

1,872

Dec

2-1/2?

Bond

12/15/67-72

2,663

220

2,443

10,807

l,lo3

9,644

June .

.

Total.

-

1974
Feb...

-

(Continued)

Treasury Bulletin

32
PUBLIC DEBT OPERATIONS

Table

2.

-

,

Offerings of Treasury Bills

(Amounts in millions of dollars)

Description of new issue
Issue date

Number of
days to
maturity 1/

Maturity
date

Amount of
bids
tendered

Amount of bids accepted
Total
amount

On competitive basis

noncompetibasis 2/

'e

:change

Amount
maturing on
issue date
of new
offering

Total of
unmatured
issues outstanding after
new issues

Regular weekly bills:

1966-May

5

ri966-Aug.
Nov.

3

91
182

2,122.5
1,635.8

1,300.3
990.0

1,063.9
875.0

236.4
115.0

193.2
164.5

1,300.9
1,000.1

16,923.2
26,013.5

\

May

12

Aug.
Nov.

11
10

91
182

2,536.2
2,569.9

1,301.4
1,001.5

1,050.2
872.4

251.2
129.1

138.3
104.2

1,303.8
1,000.0

16,920.9
26,014.9

May

19

Aug.
Nov.

18
17

91
182

2,122.2
1,888.9

1,300.4
1,000.5

1,042.5
864.1

257.9
136.4

217.4
145.3

1,300.4
1,001.0

16,920.9
25,014.5

May

26

Aug.
Nov.

25
25

91
183

2,U6.6
1,915.0

1,301.6
1,000.5

1,079.3
880.2

222.3
120.3

282.5
193.5

1,311.4
1,001.3

16,911.0
26,013.6

Sept.
Dec.

1
1

91
182

2,093.2
2,203.0

1,300.3
1,001.3

1,094.0
892.3

206.3
109.0

279.6
172.4

1,301.4
1,000.2

16,910.0
26,014.8

Sept.
Dec.

8
3

91
182

1,938.4
1,605.3

1,300.2
1,000.5

1,054.1
868.7

246.1
131.8

236.8
106.4

1,300.4
1,000.1

16,909.8
26,015.2

June 16

Sept. 15
Dec.
15

91
182

2,250.6
2,484.3

1,300.2
1,001.7

1,057.5
864.0

242.8
137.7

234.5
125.2

1,301.0
1,000.5

16,909.0
26,016.4

June 23

Sept. 22
Deo.
22

91
182

2,172.2
1,915.2

1,300.9
1,000.4

1,044.4
844.6

256.5
155.8

260.5
164.9

1,300.6
1,003.3

16,909.3
26,013.4

June 30

Sept.
Dec.

29
29

91
182

2,302.1
1,535.4

1,300.2
999.9

1,053.0
866.0

247.2
133.9

209.3
150.5

1,300.2
1,001.1

16,909.4
26,012.2

6

91
182

1,886.1
1,539.6

1,302.3
1,001.2

1,078.9
897.7

223.3
103.5

201.2
152.9

1,301.5
1,003.2

16,910.2
26,010.3

June

2

June

9

July

Oct.
1967-Jan.

7

5

U

1956-Oct.
1957- Jan.

12

91
182

2,110.5
1,821.2

1,302.4
1,001.0

988.2
852.6

314.2
148.4

123.3
104.7

1,300.4
1,000.4

16,912.1
26,010.9

July 21

1966-Oot.
1967-Jan.

20
19

91
182

2,328.7
2,664.6

1,300.1
1,001.4

1,037.8
871.7

262.3
129.7

257.5
178.7

1,300.7
1,001.1

16,911.5
26,011.1

July 28

1966-Oot.
1967-Jan.

27
26

91
182

2,469.3
1,909.7

1,300.6
1,001.8

1,048.7
876.4

252.0
125.4

245.3
174.1

1,301.0
1,000.2

16,911.1
26,012.7

'i966-Nov.

3

1967-Feb.

2

91
182

2,303.4
2,055.5

1,300.0
1,000.7

1,052.1
885.8

247.9
114.9

299.0
178.5

1,300.3
999.7

16,910.8
26,013 7

Aug. 11

1966-Nov.
1967-Feb.

10
9

91
182

2,166.6
1,559.6

1,301.5
999.8

1,038.8
877.0

262.7
122.8

190.1
122.2

1,301.4
1,001.1

15,910.8
26,012.4

Aug. 13

1966-Nov.
1967-Feb.

17

16

91
182

2,065.7
1,706.6

1,301.3
1,001.3

1,033.1
877.1

268.2
124.2

283.7
183.3

1,300.4
1,000.8

16,911.7
26,012.9

Aug. 25

1966-Nov.
1967-Feb.

25
23

92
182

2,078.2
2,158.9

1,300.2
1,002.5

1,064.4
884.6

235.8
117.9

258.2
191.3

1,301.6
1,000.9

16,910.3
26,014.5

fi966-Mar.

June

22
22

162
254

4,051.6
2,209.5

3,009.4
1,002.5

2,564.5
801.4

444.9
201.1

3,009.4
4,011.9

June
June

22
22

210
168

5,164.5
3,647.5

2,513.2
1,006.6

2,041.0
770.3

472.3
236.3

6,525.2
7,531.8

Ji967-Kar.
Apr.
1

22
21

208
238

2,950.2
1,489.9

2,006.1
1,003.3

1,699.3
847.3

306.7
155.9

2,006.1
3,009.3

1966-May
June
July

31

365
365
365
365
365
365
365
365

2,752.0
2,190.8
1,714.5
1,927.0
2,969.9
2,304.3
1,948.5
2,720.5

1,000.9 i/
1,000.6
1,000.2
1,000.3
1,000.5
999.9
1,000.6
1,001.0

969.5
953.1
969.2
966.1
943.4
950.9
954.6
948.5

31.4
47.6
31.0
34.2

365
365
365
365
365
365
365

1,917.3
1,771.3
1,571.0
1,834.4
2,012.7
1,568.6
1,868.9

1,001.4
1,000.2
1,000.0
1,000.7
1,001.2
1,001.4
994.8
1,000.1

944.7
967.0
956.7
961.2
963.0
953.9
960.0
967.0

July

>ug.

L

13

Tax anticipation bills:
1965-Oct. 11

I

1966-Aug. 26

Qne-year bills:
1965-May 28
June 30
July 31
Aug. 31
Sept. 30
Oct. 31
Nov. 30
Dec. 31

30
31
Aug.
31
Sept. 30
Oct.
31
Nov.
30
Deo.
31

1966-Jan. 31
Feb. 28
Mar. 31
Apr. 30

1967-Jan.

May 31
June 30
July 31

May
June
July

Aug.

Aug.

31

Feb.

Mar.
Apr.

31
28
31
30
31
30
31
31

Source: Daily Treasury statement; Bureau of the Public Debt.
Note:
Tax anticipation and one-year bills are shown in the table each
month until the month in which they mature is no longer shown in the
issue date column for regular weekly bills.
1/ The 13-week bills represent additional issues of bills with an original
maturity of 26 weeks.
For 13-ueek and 26-week issues, tenders for
$200,000 or less from any

3/
4/

V

49.0
46.0
52.5

100.3
62.1
136.3
138.3
127.2
153.9
67.5
49.5

1,000.1
1,001.2
1,000.5
1,000.4
1,000.5
999.9
1,000.5
1,003.0

12,009.5
12,009.0
12,008.8
12,008.6
12,008.6
12,008.6
12,008.6
12,006.7

56.7
33.2
43.4
39.5
38.2
47.6
34.9
33.1

184.2
125.1
75.9
189.9
198.6
51.7
245.5
229.2

1,000.4
1,000.7
1,003.3
1,001.2
1,000.9
1,000.6
1,000.2
1,000.3

12,007.7
12,007.1
12,006.9
12,006.4
12,006.8
12,007.5
12,002.1
12,001.9

57.1

one bidder are accepted in full at average price of accepted competitive bids; for other issues, the corresponding amount is stipulated
in each offering announcement.
Issued on November 24, 1965; additional to bills dated October 11, 1965.
Issued on January 5, 1966; additional to bills dated October 11, 1965.
Settlement of $3,063,000 was made on Hay 28, 1955 and $997,823,000
on June 1, 1965.

33

September 1966
PUBLIC DEBT OPERATIONS

Table

-

2.

Offerings of Treasury Bills

Average price
per hundred

Equivalent averag-^
rate 6/

{

Regular weekly bills:

High

Price per hundred

4.621
4.789

98.826
97.561

4.64A
4.824

4.605
4.811

98.327
97.556

4.640
4.834

93.834
97.543

4.613
4.824

98.824
97.533

4.652
4.843

4.641
4.826

98.832
97.561

4.621
4.824

93.823
97.558

4.656
4.830

93.336
97.594

J98.830
1_97.564

4.630
4.818

98.832
97.579

2/

May

19.

J98.B31
\97.562

4.626
4.323

98.836
97.563

W

May

26.

f98.828
197.542

4.638
4.835

198.827
|_97.560

7/

98. 844

4.573

June

9..

|97.602

4.7U

93.855
97.614

4.530
4.720

June

16..

[98.844
\ 97. 620

4.575
4.708

98.852
97.624

4.542
4.700

June

23..

[98.870
\97.679

4.470
4.591

98.880
97.633

U/

4.431
4.573

June

30.

[98.879
|97.669

4.435
4.610

93.887 1^
97.686 12/

4.403
4.577

July

7.

[98.304
197.515

4.731
4.915

98.322 iV
97.542 15/

4.660
4.362

U.

[98.768
\97.473

4.875
4.999

98.793
97.506

1^

July

4.775
4.933

July

21.

[98.737
\97.424

4.998
5.096

98.743
97.431

4.973
5.032

July

28.

[93.782

4.819
4.919

98.790
97.528

4.787
4.890

1.97.488

4.833
4.969

98.782 17/
97.494

4.318
4.957

[98.780
\97.447

4.825
5.050

93.791 18/
97.462 12/

4.783
5.020

[98.724
\97.313
[98.717
\97.265

5.048
5.315
5.022
5.410

98.737 20/
97.340 21/
93.725
97.275 22/

4.996
5.262

[98.298
\97.221

3.783
3.941

98.318 22/
97.260 2V

3.738
3.383

97.623
98.002

4.075
4.281

97.638 2£/
93.008 2^

4.049
4.269

[96.916
\96.4O8

5.338
5.41^

97.013 22/
Q6.542 28/

5.170
5.231

3.954
3.807
3.875
4.006
4.236
4.192
4.277
4.731
4.699
4.945
4.739
4.773
4.966
4.697
4.964
5.844

95.994 22/
96.157 20/
96.036
95.950 21/
95.722
95.758 22/
95.681
95.215 22/
95.250 2V
95.007
95.215 25/
95-134
94.936
95.306
94.991 J6/
94.110 22/

3.951
3.790
3.860
3.995
4.219

f

1_97.513

[98.778
Aug.

Aug.

11.

Aug.

18.

25.

Tax anticipation bills:
1965-Oot.

1966-Au^.

11

26.

One-year bills:
28..
1965- May
30..
June
31..
July

May
June
July

31.,
30..
31..
30.
31.
31.
28.
31.
30.
31.
30.
31.

Aug.

31.

Aug.
Sept.
Oct.
Nov,
Dec.
1966-Jan.
Feb.
Mar.
Apr.

95.991
96.140
96.072
95.938
95.705
95.750
95.664
95.203
95.236
94.986
95.195
95.161
94.965
95.238
94.967
94.075

(Percent)

4.688
4.799

12.

June

Equivalent rate 6/

98.815
97.574

98.324
97.592

May

Price per hundred

4.652
4.763

4.673
4.782

5.

Equivalent rate
(Percent)

Percent)

[98.819
\97.582

1966-May

(Continued)
On competitive bids accepted

On total bids accepted

Issue date

-

4.989
5.390

4.184
4.260
4.719
4.635
4.925
4.719
4.750
4.945
4.630
4.940
5.809

95.991
96.126
96.065
95.931
95.698
95.745
95.652
95.197
95.225
94.974
95.155
95.144
94.951
95.138
94.943
94.056

.

Treasury Bulletin

34
PUBLIC DEBT OPERATIONS

Table

3.

-

New Money Financing through Regular Weekly Treasury
(Dollar amounts in millions)

Description of issue

Bills

1/

)

September 1966

35
PUBLIC DEBT OPERATIONS

Table

3.

-

New Money

Financing through Regular Weekly Treasury Bills!/- (Continued)
(Dollar amounts In millions)

Description of issue

Dumber of
days to
maturity

Maturity

Issue
date

date

Amount
of bids
tendered

Amount
of bids
accepted

$2,212
1,202

$1,301
700

2.930
3.008

1200

Average rate
on bids
accepted 2/

New money
increase, or
decrease (-)

(Percent

Ii962-0ctober
^1963-January

U
3

91
182

12.

ri962-0ctober
'|l963-January

11
10

91
182

2,365
1,126

1,301
700

2.974
3.096

201

19.

(i962-October
1l963-January

18
17

91
182

2,454
1,068

1,302
700

2.983
3.133

201

ii962-0ctober
^963-January

25
24

91
182

2,127
1,362

1,298
703

2.892
3.103

200

1

91

31

182

2,161
1,576

1,301
700

2.874
3.075

91
182

1,972
1,203

1,301
700

2.801
2.990

197

1962-Jaly

Jviy
July
July

1%2-November

August

1963-January

199

August

{1962-November
1963-February

8

August

16.

fl962-November
\l963-February

15

U

91
182

2,078
1,766

1,301
704

2.867
3.060

204

August

23.

fl962-November
\l963-February

23
21

92
182

2,003
1,651

1,301
700

2.837
2.984

99

August

30.

f 1962-November
\l963-February

29
28

91
182

2,248
1,259

1,301
700

2.805
2.916

100

fl962-December

6

U%3-March

7

91
182

2,054
1,332

1,301
700

2.834
2.977

100

91
182

2,377
1,291

1,301
701

2.789
2.911

101

91
182

2,265
1,375

1,301
700

2.796
2.962

101

91
182

2,150
1,777

1,300
700

2.749
2.938

100

3

91
182

2,011
1,505

1,300
701

2.752
2.902

100

10
11

91
182

2,136
1,631

1,301
701

2.760
2.864

100

17
18

91
182

2,225
1,436

1,300
700

2.749
2.843

98

21,

91

April

25

182

2,133
1,394

1,301
700

2.742
2.828

102

/

January

31

\

May

2

91
182

2,207
1,573

1,301
701

2.686
2.775

101

February

7
9

91
182

2,249
1,761

1,301
702

2.841
2.927

101

2,325
1,436

1,302
701

2.801
2.846

103

September
September

(1%2-December

13.

1963-March

27.

fl962-December

27

1l%3-March

28

(January

October

October

April

{January

18.

April

(January

25.

November

f

November

1

November
November

December
December
December
December

May

16

91
182

February
May

21
23

90
181

2,409
1,274

1,300
800

2.833
2.892

199

(February

28

May

.31

91
183

2,042
1,528

1,300
801

2.853
2.936

199

7

91

6

182

2,108
1,663

1,300
801

2.861
2.945

98

13

91
182

1,973
1,321

1,301
801

2.807
2.861

101

21
20

91
182

2,092
1,248

1,301
800

2.860
2.900

99

28
27

91
182

2,660
1,322

1,309
802

2.893
2.924

110

April
July

5

91
183

2,220
1,340

1,301
801

2.926
2.966

101

April
July

11
11

91
182

2,196
1,542

1,301
800

2.920
2.966

100

27

91
182

2,133
1,459

1,301
800

2.919
2,977

92

J
I

15.

f

23.

29.

6.

{March
,

13.

20,.

27.

1963-January

June

(March
June

{March
June
f

f
L

10,

I

[

March

28.

September

26
5

92

3

182

2,081
1,454

1,300
800

2.922
2.982

98

July
October

11
10

91
182

2,292
1,553

1,302
801

2.913
2.978

102

18.

July
October

18
17

91
182

2,352
1,485

1,301
800

2.917
3.010

100

25.

July
October

25
24

91
182

2,259
1,670

1,300

2.884
2.982

99

r

11.

r
I

April

J\me

(June
L

April

March

U

July
October

April

April

May

U

L

January

21

February

I

November

U
20

(1963-January
April

October

October

13

fl962-December
\l963-March

September

September

7

Footnotes at end of table.

(Continued on following page)

801

)

.,.

Treasury Bulletin

36
PUBLIC DEBT OPERATIONS

Table

3.

-

New Money

,

Financing through Regular Weekly Treasury Billsl/- (Continued)
(Dollar amounts in millions)

Description of issue
Average rate
on bids
accepted 2/

New money
increase, or
decrease (-)

Amount
of bids
tendered

Amount
of bids
accepted

$ 2,054

31

91
182

1,668

* 1,302
801

897
989

1 101

August
November

8
7

91
182

2,119
1,715

1,301
802

2.905
2.993

100

August
November

15
14

91
182

2,397

1,302
801

2.903
2.990

98

fi964--February

91
182

2,321
1,431

1,202

May

20
21

800

3.524
3.660

-99

February
May

27

90
181

1,987

28

1,6U

1,201
802

3.480
3.630

-99

20

91

19

182

2,258
1,633

1,202
900

3.482
3.598

101

2,073
1,709

.3.476

183

1,200
900

Number of
days to
maturity

Maturity
date

Issue
date

(Percent

1963-May

2.

May

9.

ri963-August
October
\
f

\

May

16.

/

\

November

21.

November

29.

r

I
196-i-May

August
November

21.

May

23.

July

16.

August
November

1

27
27

91

1,583

3.595

97

October
1965- January

15

U

91
182

2,123
1,409

1,202
902

3.549

22
21

91
182

2,070
1,333

1,201
900

3.502
3.619

100

3.U8

103

July

23.

i964.-October
196 5- January

July

30.

i964-0ctober
1965-January

29

28

91
182

2,204
1,889

1,201
902

3.475
3.591

101

1964-December
1965-March

10
11

91
182

2,169
1,464

1,302
901

3.514
3.649

101

September 17.

1964-December
1965-March

17
18

91
182

2,083
1,474

1,302
900

3.541
3.693

102

September 24.

1964-December
1965-March

24

91
182

2,200

25

1,624

1,302
901

3.542
3.692

101

19 64- Dec ember
1965-April

31
1

91
182

2,086
1,451

1,301
900

3.555
3.711

100

22
22

91
182

2,099
2,475

1,200
1,001

3.821
3.960

99

29
29

91
182

2,185
2,465

1,203
1,003

3.843
3.946

104

May
August

6
5

91
182

2,226
2,470

1,203
1,004

3.888
3.968

105

13
12

91
182

2,242

2,U8

1,200
1,001

3.903
3.987

100

September 10.

October

1

'

L965-January

21.

April
July

January

28.

April
July

February

<i.

February

11.

May
August

February

18,

May
August

20
19

91
182

2,074
2,162

1,200
1,000

3.936
4.015

98

25,

May
August

27
26

91
182

2,327
2,504

1,201
1,003

3.989
4.043

102

3

91
182

2,359
2,304

1,200
1,000

3.982
4.037

100

94

February
March

4.

r
l^

March

25,

April

1.

April

3.

April

15.

{June
September
f

Jtily

1

September

6

2

2A
23
1

30

October

[
1

1966-January

June
September

July
October

15
U.

91
182

2,368
2,024

1,203
1,000

3.922
3.984

91
182

2,061
1,938

1,200
1,002

3.921
3.993

102

91
182

2,281
2,188

1,202
1,001

3.942
3.993

200

91
182

2,336
1,832

1,201
1,001

3.937
3.991
4.532
4.718

1966- April
July

7
7

91
182

1,96b
1,933

1,304
1,003

1

97
105

January

13.

April
July

14
14

91
182

2,258
2,004

1,302
1,000

4.585
4.737

102

January

20

April
July

21
21

91
182

2,296
2,166

1,301
1,001

4.673
4.770

97

January

27

April
July

28
28

91
182

2,084
2,305

1,301
1,000

4.596
4.699

101

{

Footnotes at end of table.

(Continued on follouing page)

,

.

September 1966

37
PUBLIC DEBT OPERATIONS

Table

3.

-

New Money

Financing through Regular Weekly Treasury Bills V - (Continued)
(Dollar amounts in millions)

Description of issue

Number of
days to

Maturity

Issue
date

date

Amount
of bids
tendered

Amount
of bids
accepted

Average rate
on bids
accepted 2/

New money
increase, or
decrease (-)

maturity
(Percent)

1966-February

ri966-May
August
I

3

February 10

r

I

February 17

I
[

February 2i

91
182

$2,145
1,672

$1,301
1,000

4.638
4.740

$98

11

91
182

2,401
2,010

1,304
1,001

4.650
4.775

10.4

May
August

19
18

91
182

2,365
1,984

1,300
1,001

4.695
4.876

100

May

26
25

91
182

2,404
2,095

1,311
1,001

4.696
4.892

111

5

May

12

August

August

3.

June
September

91
182

2,343
2,049

1,301
1,001

4.661
4.861

102

10...

June
September

91
182

2,008
1,642

1,300
1,000

4.620
4.816

99

17...

June
September

16
15

91
132

2,320
2,767

1,301
1,002

4.713
4.915

97

March

2A...

June
September

23

22

91
182

2,223
1,923

1,301
1,000

4.576
4.776

92

March

31...

June
September

30
29

91
182

2,265
1,884

1,300
1,000

4.554
4.755

100

March
March

March

Source
See Table 2
Information in Table 3 covers bill offerings
January 2, 1961 through August 31, 1966.
1/ Excludes issues of strips of additional amounts of outstanding, regular
weekly bills for cash on June 14, 1961 ($1,802 million), November 15,
:

.

2/

1961 ($800 million), November 15, 1962, October 28, 1963, and
July 29, 1964 ($1,001 million each). See Table 4.
Equivalent average rate on bank discount basis

Treasury Bulletin

38
PUBLIC DEBT OPERATIONS

Table

4.

-

Offerings of Public Marketable Securities Other than

Regular Weekly Treasury Bills

Date subscrip-

September 1966

39
PUBLIC DEBT OPERATIONS.

Table

Date subscrip-

4.

-

Offerings of Public Marketable Securities Other than
Regular Weekly Treasury Bills - (Continued)

Treasury Bulletin

40
PUBLIC DEBT OPERATIONS

Table

Date subscription books

4.

-

Offerings of Public Marketable Securities Other than
Regular Weekly Treasury Bills - (Continued)

September 1966

41
PUBLIC DEBT OPERATIONS

Table

Date subscription books

4.

-

Offerings of Public Marketable Securities Other than
Regular Weekly Treasury Bills - (Continued)

•

.

.

42

.

.

.

Treasury Bulletin
PUBLIC DEBT OPERATIONS.

Footnotes to Table 4
'

'

Subscriptions for $50,000 or less were allotted in full. SubscriptiODs for more than $50,000 were allotted 15 percent but in no case
less than $50,000.
In addition, $100 million of the bonds was
allotted to Government investment accounts.
Includes $2,166 million allotted to Federal Reserve Banks and Government investment accounts of the 3-1/4^ certificates, $14 million of
the 3-5/8S1 notes, and $64 million of the 3-7/85f bonds.
Subscriptions were permitted to be made with payment in cash or in
the 4$ notes or 3-1/4$ notes, both maturing August 15, 1962 (see
Table 7, footnote 13).
Consists of allotments on subscriptions from holders of Treasury
notes maturing August 15, 1962.
Subscriptions from States, political subdivisions or instrumentalities
thereof, public pension and retirement and other public funds, international organizations in which the United States holds membership,
foreign central banks and foreign States, Government investment
accounts, and the Federal Reserve Banks totaled $4,760 million for
the certificates and were allotted in full, in accordance with the
offering circular. Subscriptions from all others totaled $15,395
million and were allotted 12-1/2 percent with subscriptions for
$50,000 or less allotted in full and those for more than $50,000
allotted not less than $50,000.
Subscriptions for the 4^ bonds totaled $6,743 million and were
allotted 22 percent with subscriptions for $100,000 or less allotted
in full and those for more than $100,000 allotted not less than
In addition, $100 million of the bonds was allotted to
$100,000.
Government investment accounts
All subscriptions for the 4-1/4$ bonds were allotted in full.
In
addition, $50 million of the bonds was allotted to Government
investment accounts. Savings-type investors were given the privilege
of paying for the bonds allotted to them in installments up to
October 15, 1962 (not less than 30 percent by August 15, 1962, the
issue date; 60 percent by September 15, 1%2; and full payment by
October 15, 1%2).
In addition to the amoxints allotted to the public, there was allotted
to Government investment accounts $21 million of the 3-3/4$ notes
and $320 million of the 4$ bonds.
Includes $3,7% million allotted to Federal Reserve Banks and Government investment accounts of the 3-1/8$ certificates, $1 million of
the 3-1/2$ notes, and $6 million of the 4$ bonds.
Sale of a "strip" of Treasury bills, consisting of an additional
$100 million for cash of ten series of weekly Treasury bills maturing
from January 17, 1963, to March 21, 1963.
Holders of approiijnately $458 million of Series F and G savings
bonds which mature in 1%3 and 1964 were offered in exchange either
the 3-7/8$ bonds or the 4$ bonds with certain adjustments as of
December 15, 1962, at a price of 99.50. Smaller denominations of
savings bonds could be exchanged for the next higher multiple of
$500 of the bonds upon payment of any cash difference. Cash payments
amounted to $93,000 for the 3-7/8$ bonds and $101,825 for the 4$ bonds.
The bonds were sold to a syndicate on the basis of con^setitive bidding for reoffering to the public. The winning bid was $99.85111 per
$100 of face amount for a 4$ coi^on, resulting in a net basis cost to
the Treasury of 4.008210$, calculated to maturity.
Includes $3,921 million allotted to Federal Reserve Banks and Government investment accounts of the 3-1/4$ certificates and $15 million
of the 3-3/4$ bonds.
In addition to the amounts allotted to the public, there was allotted
to Government investment accounts $19.8 million of the 3-5/8$ notes,
$29.6 million of the 3-7/8$ bonds of 1971, $151.9 million of the
3-7/8$ bonds of 1974, and $123.9 million of the 4$ bonds of 1980.
The bonds were sold to a syndicate on the basis of con5)etitive bidding for reoffering to the public. The winning bid was $100.55119
per $100 of face amount for a 4-1/8$ coupon, resulting in a net basis,
cost to the Treasury of 4.093145$, calculated to maturity.
Includes $3,327 million allotted to Federal Reserve Banks and Government investment accounts of the 3-1/4$ certificates, and $85 million
of the 3-5/8$ notes.
Subscriptions for $100,000 or less were allotted in full. Subsoriptions for more than $100,000 were allotted 5 percent but in no case
less than $100,000.
Includes $4,149 million allotted to Federal Reserve Banks and Government investment accounts.
One-year bills issued monthly beginning September 3, 1963.
In addition to the amounts allotted to the public, there was allotted
to Federal Reserve Banks and Government investment accounts $23 million of the 3-7/8$ bonds of 1968, and $171 million of the 4$ bonds of
1973.
Issued for cash and in exchange for one-year bills maturing October
15, 1%3 (see Table 7, footnote 17).
Sale of a "strip" of Treasury bills, consisting of an additional $100
million for cash of ten series of weekly Treasury bills maturing from
February 6, 1964, to April 9, 1964.
Subscriptions were permitted to be made with payment in cash or in
3-1/8$ certificates or 4-7/8$ notes, both maturing November 15, 1963
(see Table 7, footnote 18).
Consists of allotments on subscriptions from holders of Treasury certificates of indebtedness and Treasury notes maturing November 15, 1963
Subscriptions from States, political subdivisions or instrumentalities
thereof, public pension and retirement and other public
funds, international organizations in which the United States holds membership,
foreign central banks and foreign States, Government investment
accounts and the Federal Reserve Bank?, as provided ir
the offering
circular, totaled $4,307 million and were allotted in
full
Subscriptions subject to allotment totaled $15,762
million:
those up to
and including $100,000 were allotted in
full; all others were allotted
21 percent but in no case less than
$100,000.
Issued to replace the one-year bills
maturing Januarv 15. 196i

-

51/

52/

^
54/

55/

56/

57/

58/

12/
62/

61/

62/
63/

^
§2/
06/
63/

68/

^/
70/

71/
72/

73/

2A/

75/

76/

P

(Continued)
In addition to amounts allotted to the public, $189 million was
allotted to Government investment accounts.
Subscriptions for $50,000 or less were allotted in full. Subscriptions for more than $50,000 were allotted 83-1/2 percent but in no
case less than $50,000,
In addition, $125 million of the bonds was
allotted to Government investment accounts.
Includes $4,014 million allotted to Federal Reserve Banks and Government investment accounts of the 3-7/8$ notes
Subscriptions for $50,000 or less were allotted in full. Subscriptions for more than $50,000 were allotted 9 percent but in no case
less than $50,000.
Includes $6,383 million 6illotted to Federal Reserve Banks and Government investment accounts of the 4$ notes and $29 million of the 4-1/4$
bonds
In addition to the amounts allotted to the public, there was allotted
to Government investment accounts $22 million of the 4-1/4$ bonds of
1987-92, and $4 million of the 4-1/8$ bonds of 1973.
Sale of a "strip" of Treasury bills, consisting of an additional $100
million for cash of ten series of weekly Treasury bills maturing from
October 15, 1964, to December 17, 1964.
Subscriptions were permitted to be made with payment in cash or in 5$
notes or 3-3/4$ notes, both maturing August 15, 1%4 (see Table 7,
footnote 22).
Consists of allotments on subscriptions from holders of Treasury notes
maturing August 15, 1964.
Subscriptions from States, political subdivisions or instrumentalities
thereof, public pension and retirement and other public funds, international organizations in which the United States holds membership,
foreign central banks and foreign States, Government investment
accounts and the Federal Reserve Banks, as provided in the offering
circulars, totaled $1,950 million and were allotted in full. Subscriptions subject to allotment totaled $12,903 million: those up
to and including $100,000 were allotted in full; all others were
allotted 15 percent but in no case less than $100,000.
Subscriptions were permitted to be made with payment in cash or in
4-7/8$ notes or 3-3/4$ notes, both maturing November 15, 1964 (See
Table 7, footnote 24).
Consists of allotments on subscriptions from holders of Treasury
notes maturing November 15, 1964.
Subscriptions from States, political subdivisions or instrumentalities
thereof, public pension and retirement and other public funds, international organizations in which the United States holds membership,
foreign central banks and foreign States, Government investment
accounts and the Federal Reserve Banks, as provided in the offering
circulars, totaled $6,607 million and were allotted in full. Subscriptions subject to allotment totaled $15,293 million: those up
to and including $100,000 were allotted in full; all other were
allotted 16.5 percent but in no case less than $100,000.
In addition to the amounts allotted to the public, there was allotted
to Government investment accounts $322 million of the 4$ bonds of
1970, $325 million of the 4-1/8$ bonds of 1974, and $55 million of
the 4-l/i$ bonds of 1987-92.
Subscriptions were permitted to be made with payment in cash or in
2-5/8$ bonds maturing February 15, 1965 (see Table 7, footnote 26).
Consists of allotments on subscriptions from holders of Treasury
bonds maturing February 15, 1965.
Subscriptions from States, political subdivisions or instrumentalities
thereof, public pension and retirement and other public funds, international organizations In which the United States holds membership,
foreign central banks and foreign States, Government investment accounts
and the Federal Reserve Banks, totaled $582 million and, as provided in
the offering circulars, were allotted in full where the subscriber
made the required certification of ownership of bonds maturing
February 15, 1965. Subscriptions subject to allotment totaled $10,054
those up to and including $100,000 were allotted in full;
million:
all othere were allotted 15 percent but in no case less than $100,000.
Includes $4,253 million allotted to Federal Reserve Banks and Government
investment accounts of the 4$ notes and $65 million of the 4-1/4$ bonds
Includes $3,051 million allotted to Federal Reserve Banks and Ck)vernment
investment accounts of the 4$ notes and $1,076 million of the 4$ bonds.
Subscriptions were permitted to be made with payment in cash or in
3-1/2$ notes or 4$ notes, both maturing November 15, 1965 (See Table
7, footnote 28)
Consists of allotments on subscriptions from holders of Treasury
notes mturing NoveJiber 15, 1965.
Subscriptions from States, political subdivisions or instrumentalities
thereof, public pension and retirement and other public funds, international org°.nii?-tiQns in which the United States holds membership,
foreign central banks and foreign States, Government investment
accounts and the Federal Reserve Banks, totaled $7,169 million and,
as provided in the offering circulars, were alloted in full where
tho subscriber made the required certification of ownership of notes
maturing November 15, 1965. Subscriptions subject to allotment totaled
$4,898 million: those up to and including $200,000 were allotted in
full; all others were allotted 48 percent but in no case less than
$200,000.
Subscriptions for $50,000 or less were allotted In full. Subscriptions
for more than $50,000 were allotted H-5 percent but in no case less
than $50,000.
In addition to the amounts allotted to the public, there was allotted
to Federal Reserve Banks and Government investment accounts $1,250
million of the 4-7/8$ notes and $1,121 million of the 5$ notes.
Includes $6,685 million allotted to Federal Reserve Banks and
Government investment accounts
Includes $4,431 million allotted to Federal Reserve Banks and Government investment accounts of the 5-1/4$ certificates and $1,519 million
of the 5-1/4$ notes.
Preliminary.

September 1966

44

Treasury Bulletin
PUBLIC DEBT OPERATIONS

Table

5.

-

Securities Issued in

Advance Refunding Operations

-

(Continued)

September 1966

45
PUBLIC DEBT OPERATIONS

Table

5.

-

Securities Issued in Advance Refunding Operations

-

(Continued)

46

September i966

Treasury Bulletin

48
PUBLIC DEBT OPERATIONS

Table

6.

-

Allotments by Investor Classes on Subscriptions for Public Marketable Securities
Other than Regular Weekly Treasury Bills i/- (Continued)
(In millions of dollars)

Issue

D

..

D

49

September 1966
PUBLIC DEBT OPERATIONS

Table

7.

-

Disposition of Matured Public Marketable Securities
Other than Regular Weekly Treasury Bills

Called or maturing securities 1/
Date of
refunding
or retirement

issue
date

Description

Disposition offers
by Treasury
Amount
outstanding

Exchange
security
offered

Cash
retirement

Results of exchange offers
Exchanged

Description of new
security offered
(See also Table A-)

Turned
in for
cash 2/

(In millions of dollars

1/15/61

5.067% Bill

1/15/61

1/15/60

1,504

2/15/61

4-7/8% Certificate

2/15/61

2/15/60

6,938

6/15/59-62
12/15/59-62
2/15/63-A
8/15/63

6/1/45
11/15/45
4/15/58
12/15/54

5,262
3,449
3,971
6,755

1,504 1/
I

'2-1/4% Bond

3/15/61 6/

2-1/4% Bond
2-5/8% Note
2-1/2% Bond
Total

6,933

V
5,000 2/

•

3,000 7/
3,000

19,436
3/22/61

4./1/61

1-1/2% Note

4/1/61-EA

4/1/56

144

V15/61

4.608% Bill

4/15/61

4/15/60

2,001

4-3/8% Certificate

5/15/61-B

5/15/60

3,674

3,674

3-5/8% Note

5/15/61-B

12/1/58

4,078

4,078

7,753

7,753 2/

3/22/61

5/15/61

Total
6/1/61

3%

Bond
(Panama Canal loan'

6/1/61

6/1/11

3,512

50~

3,268

y

296
177
131
2,438

3-1 '4% Note

8/15/62-G

•3-5/8% Bond

11/15/67

3-3/8% Bond

11/15/66

'2,438 of 3-3/8% Bond
,3,604 of 3-5/3% Bond

6,041

3,512 8/

2.823% Bill

7/13/60

3,670
J,

144
2,001 i/
54

727

il 829

Certificate 3%
L3-l/4% Note
Certificate r3%
[3-1/4% Note

3,599

^22

h

523

2,631

5,122 10/

5/15/62-A
5/1 5/635/15/62-A
5/15/63-D

50

6/22/61

2.788% Bill

6/22/61

10/21/60

3,504

3,504 S/

7/15/61

3.265% Bill

7/15/61

7/15/60

1,501

1,501 1/

3-1/8% Certificate

8/1/61-C

8/15/60

7,829

7,829

4,5cO
3,049
131

88

3-1/4% Note
3-3/4% Note
3-7/8% Bond

11/15/62-H
8/15/64-E
5/15/68

Note

8/1/61-A

8/1/57

2,136

2,136

658
991
289

198

3-1/4% Note
3-3/4% Note
3-7/8% Bond

11/15/62-H
8/15/64-E
5/15/68

2-3/4% Bond

9/15/61

11/9/53

2,239

2,239

681
890
320

348

3-1/4% Note
3-3/4% Note
3-7/8% Bond

11/15/62-H
8/15/64-E
5/15/68

1-1/2% Note

10/1/61-EO

13/1/56

332

332

3-1/4% Note
3-3/4% Note
3-7/8% Bond

11/15/62-H
8/15/64-E
5/15/68

12,536

12,536

11,850

4%

8/1/61

183

Total

9/15/61 6/

.

686

'6,082 of 3-1/4% Note
5,019 of 3-3/4% Note
749 of 3-7/8% Bond

3/15/65-70

2/1/44

4,688

4,688

1,035
722
495

'3-1/2% Bond

2-1/2% Bond

3-1/2% Bond
3-1/2% Bond

11/15/80 11/
2/15/90 11/
11/15/93 n/
11/15/80

3/15/66-71

12/1/U

2,927

2,927

238
576
692

'3-1/2% Bond

2-1/2% Bond

Total.

7,615

7,615

3,757

6,963

3,645
2,384
517

9/22/61

2.473% Bill

9/22/61

4/3/61

1,503

1,503 8/

10/16/61

3.131% Bill

10/16/61

10/17/60

1,502

1,502

11/15/61

2-1/2% Bond

11/15/61

2/15/54

6,963

1/15/62

2.679% Bill

1/15/62

1/15/61

1,502

3-5/8% Note

2/15/62-A

5/1/57

647

647

232
303

2/15/59

1,435

1,435

452
856

4%
2/15/62

52

•

Note

2/1 5/62-

11/15/60

9,098

9,098

1-1/2% Note

4/1/62-EA

4/1/57

551

551

Footnotes at end of table.

11/15/80 U/
2^15^90 11/
11/15/98 11/

3-1/4% Note
3-3/4% Bond
3-7/8% Bond

2/15/63-E
5/15/66 11/
11/15/7411/

3-1/2% Certificate
Note

2/15/63-A
8/15/66-A

127

3-1/2% Certificate
Note
[4%

2/15/63-A
8/15/66-A

5,758
3,200

140

[3-1/2% Certificate
Note
14%

2/15/63-A
8/15/66-A

370

8n

419

1,502 1/

2/15/62-F

11,731

11/15/98 11/

1,273 of 3-1/2% Bond
1,298 of 3-1/2% Bond
1,187 of 3-1/2% Bond

y

3-1/4% Note

Total

U/

2/l5,'90 11/

3-1/2% Bond
3-1/2% Bond

11,731

(Contimied on following page)

95
11,316

415

2/15/63-A
3-1/2% Certificate 8/15/66-A
Note
4%
6,362 of 3-1/2% Certificate
i4,454 of 4% Note

.

m

Ireasury Ballet

50
PUBLIC DEBT OPERATIONS

Table 7.- Disposition of Matured Public Marketable Securities
Other than Regular Weekly Treasury Bills - (Continued)
Called or maturing securities 1/
Date of
refunding
or retirement

Issue
date

Description

Disposition offers
by Treasury
Amount
outstanding

Exchange
security
offered

Cash
retirement

Results of exchange offers
Exchanged

(In millions of dollars)

Bond

2/15/6i

2/14/58

3,854

3,854

1,154

2-5/8? Bond

2/15/65

6/15/58

6,896

6,896

ri,651
563

2-1/2? Bond

6/15/67-72

6/1/45

1,757

1,757

233
181

2-l/2« Bond

9/15/67-72

10/20/41

2,716

2,716

345
420

2-1/2? Bond

12/15/67-72

11/15/45

3,515

3,515

322
333

18,739

18,739

5,202

3*

3/1/62 b/

Total

3/23/62

2.484? Bill

3/23/62

7/26/61

3,503

3,503 8/

V15/62

2.827? Bill

4/15/62

4/15/61

2,000

2,000 2/

'i%

Certificate

5/15/62

5/15/61

5,509

5,509

i?

Note

5/15/62

4/14/60

2,211

2,211

2-1/4? Bond

6/15/62

6/1/45

3,963

3,963

11,684

11,684

5/15/62

Total.

6/22/62

2.705? Bill

6/22/62

9/27/61

2,511

2,511 8/

7/16/62

2.908? Bill

7/15/62

7/15/61

2,004

2,004

Note

8/15/62

9/26/57

158

3-1/4? Note

8/15/62

2/15/61

7,325

7,325

7,483

7,483

4?

8/15/62

Total.

9/15/62

y

3-1/2? Certificate -

2/15/63-A

2/15/62

6,862

2-5/8? Note

-

2/15/63-A

4/15/58

2,839

3-1/4? Note

-

2/15/63-E

11/1 5 '61

3,642

3-1/4? Certificate -

5/15A.3-B

5/15/62

6,686

3-1/4? Note

-

5/15/63-D

5/15/61

5,047

Note

-

5/15/63-B

4/1/59

1,743

y
15"!

12./

15/

4?
Total

6,000]

26,820

3,000J
9/."l/c2

2.396? Bill

9/21/62

3/23/62

1,802

10/1/'j2

1-1/2? Note

1C/1/62-E0

10/1/57

590

10/15/C-2

2.975? Bill

l':^/15/62

10/16/61

2,003

1,302 8/
590

2,003 2/

Turned
in for
cash 2/

Description of new
security offered
(See also Table U)

September 1966

51

Treasury Bulletin

52
PUBLIC DEBT OPERATIONS

Table 7. - Disposition of Matured Public Marketable Securities
Other than Regular Weekly Treasury Bills - (Continued)

September 1966

53
PUBLIC DEBT OPERATIONS

Table 7. - Disposition of Matured Public Marketable Securities
Other than Regular Weekly Treasury Bills - (Continued)

Treasury Bulletin

54
PUBLIC DEBT OPERATIONS

Table

7.

-

Disposition of Matured Public Marketable Securities

Other than Regular Weekly Treasury Bills

-

(Continued)

September 1966

55
PUBLIC DEBT OPERATIONS
7. - Disposition of Matured Public Marketable Securities
Other than Regular Weekly Treasury Bills - (Continued)

Table

Disposition offers
by Treasury

Called or maturing securities 1/

Date of

refunding
or retirement

Issue
date

Description

Amount
outstanding

Cash
retirement

Exchange
security
offered
(

3-5/8)t Note

2/15/66-B

5/15/62

2,195

3-7/8? Note

2/15/66-C

8/15/64

2,597

1-1/2$ Note

4/1/66-EA

4/1/61

changed

2,597
675

\l,47C
/ij456
ll,019
f

\

Total

6/;

,

121

510

5,467

4,957
1,230

Note

5/15/66-D

11/15/64

9,519

9,519

5/15/66

11/15/60

1,688

1,688

657

At

Note

8/15/66-A

2/15/62

11,060

11,060

2,624

3%

Bond

8/15/66

2/28/58

1,024

1,024

324

23,291

23,291

4,836

Grand total.

28,758

28,758

9,793

510

("4-7/8$ Note

Note

8/15/67-E
11/15/70-A

r4-7/8$ Note
Note
15$

8/15/67-E
11/15/70-A

[2,117
[2,840

of 4-7/8$ Note
of 5$
Note

11/15/70-A

802 p

f 2,117

[7,675

of 4-7/8$ Note
of 5$
Note

y

A. 062* Bill

2/28/66

2/28/65

1,001

1,001

3.783)8 Bill

3/22/66

10/11/65

3,009

3,009 8/

3.987$ Bill

3/31/66

3/31/65

1,000

1,000

1-1/2% Note

4/1/66-EA

4/1/61

151

151

y

3.996$ Bill

4/31/66

4/30/65

1,001

Note

5/15/66-D

11/15/64

8,289

8,289

7,486p

3-3/4$ Bond

5/15/66

11/15/60

1,028

1,028

649p

379p

9,316

9,316

8,135p

l,181p

Total

8/15/67-E
11/15/70-A

5$

Total

fi*

14-7/8$ Note
Note
\5$
'|_5$

.151

3-3/iif Bond

/,%

.238

174
350

5,467

Description of new
security offered
(See also Table i)

Turned
in for
cash 2/

Ex-

In millions o f dollars)
r 487

2,195

675

Results of exchange offers

1,001 2/

3.95i$ Bill

5/31/66

5/31/65

1,001

1,001 3/

{3.941$ BiU
4.075$ Bill
4.281$ Bill

6/22/66
6/22/66
6/22/66

10/11/65
10/11/65
10/11/65

1,003
2,513
1,007

1,003 8/
2,513 8/
1,007 1/

.4-7/8$ Note

11/15/67-F

3.807$ "Bill

6/30/66

6/30/65

1,001

1,001 2/

3.875$ Bill

7/31/66

7/31/65

1,000

1,000 2/

Note

8/15/66-A

2/15/62

8,436

8,436

5,602p
2,310p

524p

15-1/4$ Cert.
[_5-l/4$ Note

8/15/67-A
5/15/71-A

8/15/66

2/28/58

700

700

268p
271p

16lp

{5-1/4$ Cert.
5-1/4$ Note

8/15/67-A
5/15/71-A

9,136

9,136

8,451p

685p

{5,870p of 5-1/4$ Cert.
2,530p of 5-1/4$ Note

4$
3$

Total.

4-3/4$ Cert.

11/15/66-A

1/19/66

1,652

1,652

517p

Note

11/15/66-E

2/15/65

2,254

2,254

586p

^3-3/8$ Bond

11/15/66

3/15/61

1,851

1,851

582p

5,757

5,757

l,686p

U,893

U,893

10,138p

4$

Total

Grand total.

4.006$ Bill

Footnotes on following page.

8/31/66

8/31/65

1,000

1,000 2/

'5-1/4$ Note

684p

5/15/71-A

5,871p of 5-1/4$ Cert.
4,267p of 5-1/4$ Note

.

.

.

.

Treasury Bulletin

56
PUBLIC DEBT OPERATIONS

Footnotes to Table 7
Daily Treasury statement: Bureau of the Public Debt.
Source:
1/ Original call and maturity dates are used.
Banks.
2/ All by investors other than Federal Reserve
2/ Holled over into a one-year bill (see Table 4).
preemptive
A/ Holders of the maturing certificates were not offered
rights to exchange their holdings, but were permitted to present
them in payment or exchange, in whole or in part, for the 3-lA*

2/

6/

notes offered in the amount of around $6.9 billion. For detail of
offering, see Table A.
Excess of maturing ^-7/8)6 certificates over allotments of new
securities on subscriptions from holders of those certificates (see
Table i, footnotes 6 and 7).
Advance refunding offering. Pursuant to the provisions of section
Law
1037 (a) of the Internal Revenue Code of 195^ as added by Public
86-346, approved September 22, 1959, the Secretary of the Treasury
has declared that no gain or loss shall be recognized for Federal
income tax purposes upon the exchange of the eligible outstanding
securities solely for the new securities. For tax purposes, therefore, the investor will carry the new securities on his books at the
same amount as he had been carrying the eligible securities exchanged.
Gain or loss, if any, upon the securities surrendered in exchange
will be taken into account vgjon the disposition or redemption of the
See also Table 5
new securities.
From March 20 through March 22, 1961, owners of 2-1/iS bonds of June
15, 1959-62, 2-1/lS bonds of December 15, 1959-62, 2-5/8^ notes
maturing February 15, 1963, and 2-l/2i6 bonds maturing August 15, 1%3,
were granted the option of exchanging their holdings. The first
three were exchangeable for a new 3-5/8? bond due November 15, 1967,
and the last for a new 3-3/8)6 bond due November 15, 1966. Exchanges
were subject to allotment if subscriptions exceeded 55 billion for
the bonds of 1967 or $3 billion for the bonds of 1966.
Tax anticipation issue; for detail of offerings beginning 1%1, see
Table 4; for amounts redeemed for taxes and for cash see "Note" below.
Holders of the maturing certificates and notes were not offered
preenqjtive rights to exchange their holdings, but were permitted to
present them in payment or exchange, in whole or in part, for the
$5,250 million offering of 3/6 certificates or the $2,500 million
offering of 3-1//S notes. For detail of offering, see Table 4.
Excess of maturing 4-3/856 certificates and 3-5/8% notes over
allotments of new securities on subscriptions from holders of those
certificates and notes (see Table 4, footnotes 12 and 13).
Reopening of an earlier issue.
$1,569 million was redeemed for cash and $168 million was exchanged
for the tax anticipation bills dated March 23, 1%2 (see Table 4).
Holders of the maturing notes were not offered preemptive rights to
exchange their holdings, but were pennitted to present them in
payment or exchange, in whole or in part, for the $6,500 million
offering of 3-1/2% certificates, the $1,500 million offering of
4% bonds, or the $750 million offering of 4-1/4% bonds. For detail
of offering, see Table 4.
Excess of maturing 4% notes and 3-1/4% notes over allotments of new
securities on subscriptions from holders of those notes (see Table 4,
footnotes 27 and 28).
From September 10 through September 12, 1962, owners of securities
maturing February 15, 1963 (3-1/2% certificates, 2-5/8% notes,
3-1/4% notes), and May 15, 1963 (3-1/4% certificates, 3-1/4% notes,
4% notes) were granted the option of exchanging their holdings,
subject to allotment if subscriptions exceeded the offering limits
of $6 billion for the notes and $3 billion for the bonds.
Called on August I4, 1962, for redengition on December 15, 1962.
Holders of the maturing one-year bills were offered the option to
exchange the bills for the tax anticipation bills dated October 15,
1963 (see Table 4, footnote 45).
Holders of the maturing certificates and notes were not offered
preen5)tive rights to exchange their holdings, but were permitted to
present them in payment or exchange, in whole or in part, for the
$7,600 million offering of 3-7/8% notes. For detail of offering, see
Table 4.
Excess of maturing 3-1/8% certificates and 4-7/8% notes over allotments of new securities on subscriptions from holders of those
certificates and notes (see Table 4, footnotes 47 and 48).
.

2/

3/

2/

10/

11/
12/
13/

14/

15/

16/
12/

18/

12/

20/
21/

22/

23/

24/

25/

26/

27/

28/

29/

p
Note:

Tax anticipation bills issued to replace the maturing one-year bills
(see Table 4, footnote 50)
From January 13 through Janiiary 17, 1964, owners of securities
maturing August 15, 1964 (3-3/4% notes and 5% notes), November 15,
1964 (3-3/4% notes and 4-7/8% notes), February 15, 1965 (2-5/8% bonds),
and May 15, 1965 (4-5/8% notes) were granted the option of exchanging
their holdings subject to allotment if subscriptions exceeded the offering limits of $4 billion for the 4% bonds and $750 million for the
4-1/4% bonds. Subscriptions to the 4-1/4% bonds exceeded the limitation. For allotment details see Table 4, footnote 52.
Holders of the maturing notes were not offered preemptive rights to
exchange their holdings, but were permitted to present them in
payment or exchange, in whole or in part, for the 3-7/8% notes
offered in the amount of about $4-0 billion. For detail of offering,
see Table 4.
Excess of maturing 5% notes and 3-3/4% notes over allotments of new
securities on subscriptions from holders of those notes (see Table 4»
footnotes 59 and 60)
Holders of the maturing notes were not offered preemptive rights to
exchange their holdings, but were permitted to present them in payment or exchange, in whole or in part, for the 4% notes offered in the
amount of about 3^9 1/4 billion. For detail of offering, see Table 4.
Excess of maturing 4-7/8% notes and 3-1/4% notes over allotments of
new securities on subscriptions from holders of those notes (see Table
4, footnotes 62 and 63).
Holders of the maturing bonds were not offered preemptive rights to
exchange their holdings, but were permitted to present them in payment or exchange, in whole or in part, for the 4% notes offered in
the amoimt of about $2,170 million. For detail of offering, see
Table 4.
Excess of maturing 2-5/8% bonds over allotments of the new security
on subscription from holders of those bonds (see Table 4, footnotes
66 and 67)
Holders of the maturing notes were not offered preemptive rights to
exchange their holdings, but were permitted to present them in payment or exchange, in whole or in part, for the $9,700 million offering of 4-1/4% notes. For detail of offering, see Table 4.
Excess of maturing 3-1/2% notes and 4% notes over allotments of new
securities on subscriptions from holders of those notes (see Table 4,
footnotes 71 and 72).
Preliminary.
Information on retirement of tax anticipation issues referred to
in footnote 8, in millions of dollars:

Date of

September 1966

Treasury Bulletin

58
PUBLIC DEBT OPERATIONS

Table 8. - Foreign Series Securities (Nonmarketable)
Issued to Official Institutions of Foreign Countries - (Continued)
(Payable in U. S. Dollars)

I

September 1966

59
PUBLIC DEBT OPERATIONS.

Table 8. - Foreign Series Securities (Nonmarketable)
Issued to Official Institutions of Foreign Countries - (Continued)
(Payable in U.

Month of
activity

S.

Dollars)

Treasury Bulletin

60
PUBLIC DEBT OPERATIONS,

Table

8.

-

Foreign Series Securities (Nonmarketable)

Issued to Official Institutions of Foreign Countries
(Payable in U. S. Dollars)

-

(Continued)

61

September 1966
PUBLIC DEBT OPERATIONS

Table 8. - Foreign Series Securities (Nonmarketable)
Issued to Official Institutions of Foreign Countries - (Continued)

Treasury Bulletin

62
PUBLIP DEBT OPERATIONS

Table 8. - Foreign Series Securities (Nonmarketable)
Issued to Official Institutions of Foreign Countries - (Continued)
(Payable in U. S. Dollars)

'

..
..

63

September 1966
PUBLIC DEBT OPERATIONS

Table

9. - Foreign Currency Series Securities (Nonmarketable)
Issued to Official Institutions of Foreign Countries

Amount
(Dollar equivalent)

Month of
activity

Securities

1961-Oct..

Certificates of indebtedness

1962- Jan..

Certificates of indebtedness

Mar.

Certificates of indebtedness

Apr..

Certificates of indebtedness

June.

Certificates of indebtedness

July.

Certificates of indebtedness

Aug..

Certificates of indebtedness

Sept.

Certificates of indebtedness

Oct..

Bonds
Certificates of indebtedness
Certificates of indebtedness
Certificates of indebtedness
Bonds

Nov.

Certificates of indebtedness
Bonds
Bonds
^ Bonds

Dec.

/Certificates of indebtedness
Bonds
J^
Bonds

1963-Jan.

Feb..

Bonds

Mar..

Bonds

[Certificates of indebtedness
Bonds
Bonds
Bonds
)

Apr.

I
I

May..

Bonds

June.

Bonds

July....

Payable
in

—

Issue
date

Maturity
date

Interest
rate

Total outstanding
end of month

Treasury Bulletin

64
PUBLIC DEBT OPERATIONS

Table 9. - Foreign Currency Series Securities (Nonmarketable)
Issued to Official Institutions of Foreign Countries - (Continued)

65

September 1966
PUBLIC DEBT OPERATIONS

Table

,

Foreign Currency Series Securities (N on marketable)
Issued to Official Institutions of Foreign Countries - (Continued)

Month of

9.

-

:

...
.

Treasury Bulletin

66
,

UNITED STATES SAVINGS BONDS.

Series E and H are the only savings bonds currently
being sold. Series E has been on sale since May 1, ig'H.

April 30, 1957. Details of the principal changes In Issues,
Interest yields, maturities, and other terms appear In the

and Series H has been on sale since June 1, 1952. Series
A-D were sold from March 1. 1935, through April J), l?"*!.

Series F and G were sold from May

Table

1.

19'^1.

1,

1952. Series J and K were sold from May 1, 1952 through

30,

Treasury Bulletins of April 195I, May I952, May I957, Octo-

ber and December 1959,

through April

and May and October I96I.

Sales and Redemptions by Series, Cumulative through August 31, 1966

-

(In millions of dollars;

Amount outstanding

Series
Series
Series
Series

A-D 2/.
E and H
F and G
J and K

Total A-K

Sales 1/

Accrued
discount

3,9i9
130,611
28,396
3,556

1,05A
23,713
1,125
187

166,511

26,079

Sales plus
accrued
discount

2.

-

Sales and

29,521
3,7i3

4,994
104,448
29,455
2,957

192,590

141,854

5,003
154, 32A

Source:
Daily Treasury statement; Office of Debt Analysis in the Office
of the Secretary,

Table

Redemptions j/

Interestbearing debt

Matured
noninterestbearing debt

49,876
771

66
15

50,646

90

Footnotes at end of Table 4.

Redemptions by

Periods, All Series

Combined

(In millions of dollars)

Redemptions l/
Period

Sales 1/

Fiscal years:
1935-1956
1957
1958
1959
1960
1961
1962
1963
1964
1965
1966

Calendar years :
1935-1956
1957
1958
1959
1960
1961

1962
1963
1964
1965

Accrued
discount

Sales plus
accrued
discount

Amount outstanding

Sales
price 3/

Accrued
discount 3/

Interestbearing debt

57,497
54,622
51,984
50,503

120,095
4,881
4,670
4,506
4,307
4,464
4,421
4,518
4,656
4,543
4,650

12,289
1,216
1,226
1,228
1,240
1,286
1,358
1,408
1,476
1,517
1,554

132,384
6,097
5,896
5,734
5,547
5,749
5,780
5,926
6,132
6,060
6,204

74,527
8,953
8,544
7,249
8,557
5,819
5,716
5,273
5,164
5,340
5,724

69,191
8,055
7,671
6,377
7,542
5,038
4,934
4,482
4,383
4,483
4,792

5,336
903
873
872
1,015
781
782
791
781
853
932

122,565
4,605
4,689
4,320
4,350
4,539
4,278
4,760
4,609

12,897
1,216
1,235

135,462

78,

4U

72,713
8,674
6,450
7,763

5,730
956
805
1,009

5,821

5,924

9,630
7,255
8,772
6,732
5,595
5,602

1,221

5,541

1,262
1,322
1,397
1,423
1,508

5,612

6,183
6,117

1,527

6,013

338
3?9

117
130
113
117
140

47'.

151

489
473
483
455
469
624

126
128
120
117
146

471
585
546
530
543

472
491

154

566

499

456
430
399
413
421

128

515

477

403

5,861
5,675

5,021

5,252
5,441

5,851

881

4,842
4,792
4,259

754
810
762
807
889

4,U5
4,552

47,

5U

47,514
47,607
48,314
49,299
50,043
50,537

56,293
52,474
51,192
48,154
47,159
47,458
47,535
48,827
49,734
50,324

Matured
nonint'erestbearing debt

360
374
364
331
280
240
211
157
139
110
95

725
734
686
494
368
335
331
201
158

141

Months
1965-August...
September
October.
November.
December.
1966- January
February.
.

Iferch.

April
May
June

.

.

.

.

.

34 r

457
^2^.

413
397

July
August.

371

.

411
387

Source:
Daily Treasury statement; Office of Debt Analysis in the Office
of the Secretary.

456
451

406
396
420
653

460
543
513

385
380
342
334
353
527
386

71
71

64
62
68
125

74
87
83
73
78

79
74

Footnotes at end of Table 4-

50,155
50,180
50,259
50,320
50,324
50,319
50,335
50,383
50,420
50,483
50,537
50,606
50,646

104
101

99
96
141

117
111

105
102

98
95
93

90

,..
..,. ..

:

September 1966

67
.UNITED STATES SAVINGS BONDS.

Table

3.

-

Sales and

Redemptions by Periods,
{

Sales 1/

Period

Accrued
discount

Sales plus
accrued
discount

Series

E through K

In millions of dollars)

Redemptions 1/
Sales
price 2/

Total

Amount outstanding
Accrued
discount 3/

Interest-bearing
debt

40,929
41,498

Matured
noninterestbearing debt

Series E and H combined
Fiscal years:
19il-1956
1957
1958
1959
I960
1961
1962
1963
196i
1965
1966
Calendar years:
1941-1956
1957
1958
1959
I960
1961
1962
1963
1964
1965

84,463
4,613
4,670
4,506
4,307
4,464
4,421
4,518
4,656
4,543
4,650

10,298
1,133
1,161
1,174
1,194
1,254
1,331
1,386
1,458
1,502
1,542

94,761
5,746
5,831
5,680

86,763
4,507
4,689
4,320
4,350
4,539
4,278
4,760
4,609
4,486

10,863
1,143
1,178
1,169
1,224
1,293
1,372
1,404
1,491
1,514

97,625

1965-August
September,
October. .
November.
December.

371
342
369
338
329

116
129
112
116
139

1966-January
February
Karch
April
Hay
June

473
345
457
42c
413
397

150
125
127
119
117

U5

584
545
530
542

411
387

153
127

565
514

Months

53,832
5,176
5,187
5,107
5,502
4,627
4,603
4,500
4,736
4,987
5,305

50,038
4,444
4,432
4,310
4,616
3,906
3,873
3,759
3,982
4,154
4,408

3,794
732
755
797
886
721
731
742
754
833
397

42,716
42,715
43,806
44,955
46,359
47,737
48,795
49,682

56,228
5,469

4,996
4,484
4,636
4,557
4,841
5,117

52,105
4,686
4,129
4,636
4,202
3,781
3,882
3,823
4,061
4,254

4,122
783
727
833
794
703
754
733
780
863

41,398
41,573
42,589
42,559
43,137
44,485
45,499
47,106
48,366
49,249

488
472
482
454
468

430
429
382
372
394

362
360
321
313
329

68

48,951
48,994
49,093
49,175
49,249

622

608
419
493
466
430
445

486
349
410
386
360
371

122

74

49,263
49,314
49,405
49,485
49,585
49,682

449
436

373
366

75
70

49,798
49,876

5,501
5,717
5,753
5,904

6,114
6,045
6,192

5,649
5,867
5,489
5,574
5,832
5,650
6,164
6,101
6,000

4,856
5,519

42,

U2

:

.

.

.

.

July
August.

.

.

470

&5
62
60
65

71
84
79
70

Series F, G, J, and K combined 4/
Fiscal years:
1941-1956
1957
1958
1959
I960
1961
1962
1963
1964
1965
1966
Calendar years:
1941-1956
1957
1958
1959
I960
1961
1962
1963
1964
1965

31,683
268

937
83
65
54

32,619
352
65
54

46

46

32
27
22
18

32
27
22
18

15
12

15
12

31,853
74
58
52

38
29
25
19
16
14

32,833
172
58
52
38
29
25
19

16
14

15,739
3,774
3,350
2,137
3,049
1,138
1,110
771
426
358
418

y

15,239
3,605
3,235
2,063
2,921
1,129
1,059
722
400
333
384

500
169
116
74
123

16,568
13,124
9,842
7,787
4,829

59
51

3, ''09

16,692
3,932
2,318
3,122
1,646
1,058
909
434
383
297

565
171
77
125
36

25
22
23
24
26

23
20
21
22
24

2
2

45
41

41

3

1,055

107

37
46
44

3

1,021
973
935
897
856

102

808
771

84
81

17,257
4,153
2,395
3,246
1,732
1,103
963
462
410
323

6/
7/
8/

2/
2/

5/

6/7/
7/|/
8/5/

2/

49
27
24
35

50

55

28
27
26

2,652
1,955
1,563
1,248
856

14,895
10,896
8,603
5,594
4,022
2,973
2,056
1,721
1,368
1,075

312
335
331
303
257
222
196
144
127

99
86
681
698
655

468
348
318
316
138
147
131

Months

1965-August
September.
October. .
November.
December.

1966-January.
February
March. .
April

50

.

May
June

July
August.

.

.

Footnotes at end of Table 4,

47
42
46

39
42

51

47

41

37

(Continued on following page)

2

2
3

4
4
3

4

1,204
1,135
1,166
1,145
1,075

93
91
89

86
131

96
92
88
86

... ..
.

:

Treasury Bulletin

68
UNITED STATES SAVINGS BONDS.

Table

3.

-

Sales and

(

Sales 1/

Accrued
discount

-

(Continued)

In millions of dollars)

Redemptions
Period

K

Redemptions by Periods, Series E through

Sales plus
accrued
discount

Total

Sales
price 3/

1^/

Accrued
discount 2/

Exchanges of
E bonds for
H bonds

Amount
outstanding
( interestbearing debt)

Series E
Fiscal years:
1941-195D
19^7
1958
1959
1960
1961
1962
1963
1964
1965

,

91,536

4,136
4,112
4,246

10,298
1,133
1,161
1,174
1,194
1,254
1,331
1,386
1,458
1,502
1,542

83,176
3,875
3,802
3,598
3,632
3,711
3,624
4,185
4,132
4,092

10,863
1,143
1,178
1,169
1,224
1,293
1,372
1,404
1,491
1,514

94,038
5,018
4,979
4,767
4,856

116
129
112
116
139

457
444
455
426
443

150
125
127
119
117
145

582
441
534
506
493

509

153
127

525
482

81,233
3,919
3,889
3,683
3,603
3,689
3,674

3,9U

1%6

5,052
5,049
4,862
4,797
4,943
5,005
5,300
5,594
5,514
5,787

53,638
4,981
4,951
4,889
5,131
4,394
4,343
4,203
4,363
4,538
4,801

49,844
4,248
4,196
4,092
4,295
3,673
3,613
3,461
3,609
3,705
3,904

3,794
732

55,951
5,220
4,658
5,225
4,729
4,249
4,349
4,229
4,425
4,650

51,829
4,437
3,931

4,122

391

323
313

755
797
886
721
713
742
754
833
897

201
188
219
191
206
188
212

37,898
37,969
38,067
38,040
37,456
37,817
38,260
39,166
40,190
41,078
41,853

Calendar years;

19a-1956
1957
1958
1959
I960
1961
1962
1963
1964
1965

Months
1965-August...
September
October.
November
December.

5,003

4,996
5,589
5,623
5,606

4,342
3,935
3,546
3,595
3,495
3,646
3,787

783
727
883
794
703
754
733
780
863

38,087
37,885
38,206
37,748
278
212
199
208
198
190

37, 597

38,140
38,587
39,740
40,739
41 , 504

;

341

315
342
310
305

1966-January,.

433
317
407

February
March.
April
May
June
.

.

,

July
August.

387
375
364
372

.

.

,

382
343
335
357
568
372
440
424
387
405
406
3C)4

16
15
16
14
12

41,209
41,257
41,353

291

63
69
62
60
65

446

122

301

71

357
345
317
331

84
79
70

22
14
25
21

41,497
41,552
41,620
41,684
41,768

74

19

41,853

331
324

75
70

281

275

18

22
18

41 ,430
41 , 504

41,950
42,019

Series H
Fiscal years:
1952-1956
1957
1953
1959
1960
1961
1962
1963
1964
1965
1966

Calendar years
1952-1956
1957
1958
1959
I960
1961
1962
1963
1964
1965

3,225
694
782
818
704
775
747
6O4
521
431
404

3,225
694
782
818
704
775
747
604
521
431
404

194
196
236
217
322
233
260
298
373
449
504

194
196
236
217
322
233
260
298
373
449
504

3,587
631
887
722
718
828
654

3,587
631
887
722
718
828
654
575
477
394

277
248
198
294
267
235
287

277
248
198
294
267
235
287
328
416
467

201
188
219
191
206
168

212

:

575

477
394

Months;
1965-August
September
October. .
November.
December

30

30
28
27
28

328
416
467

278
212
199
208
198

190

3,310
3,693
4,383
4,811
5,540
6,345
6,912
7,367
7,627
7,744

7,742
7,737

38
38

16
15
16
14
12

25

39
47
39
38
38

40
29

40
29

40
48

40

22

March

48

50

50

53

April

53

40
38
33

40
38
33
39

42
42

42
42

14
25
18
21

40

40

19

7,767
7,762
7,785
7,801
7,817
7,829

42

42

22

7,848

.

1966-January.
February

May
June

July
August

.

.

28
27
28
25

39

39
47
39

18

Source

3,031
3,529
4,075
4,676
5,259
5,989
6,695
7,193
7,546
7,716
7,829

Daily Treasury statement; Office of Debt Analysis in the Office
of the Secretary,

Footnotes at end of Table 4.

7,741
7,745

7,744

;

...

.

69

September 1966
.UNITED STATES SAVINCrS BONDS.

Table

4.

-

Redemptions of Matured and Unmatured Savings Bonds
(in millions of dollars)

Unmatured
Total

V
Total

Series E
and H

Total

Fiscal years:

6,137
5,109

1951

1952
1953
1954
1955
1956
1957
1958
^959
1960
1961

1962
1963
1964
1965
1966
Calendar years:
1951°:.:
1952
1953
1954
1955
1956
1957
1958
1959
1960

5,621

1,761

6,515
7,251
7,846
8,958
8,544
7,249
8,557
5,819
5,716
5,273
5,164
5,346
5,724

2,747

5,651

5,074
6,149
6,985
7,301

8,264
9,630
7,255
8,772
6,732
5,595
5,602

1961

1962
1963
1964

1965

817
792

3,941

4,263
4,115
3,730
3,621

4,126
2,673
2,593
2,250
2,057
2,184
2,253
772
1,015

2,318
3,171

4,230
4,246
4,156
3,393
4,701
3,033
2,555

5,021

2,387
2,043

5,252
5,441

2,171
2,148

456

199
159
162
174
145

38
702
1,128
1,487
1,826
1,917
1,971
1,906
1,996
2,304
1,733
1,668
1,593
1,754
1,938
1,973

254
968
1,328
1,500
2,047
1,891

2,084
1,691

2,433

1,9U
1,633
1,656
1,617
1,889
1,932

Months;

~i965-August...
September

451

134
144

148
158

October
November.
December.

406
396
420

1966-January .
February.
March.

653
460

195

172

161

543
513

294
226

472
491

199
190

130
260
194
160
153

499
477

176
197

145
151

.

.

April.

.

.

.

May
June
July
August.

,

.

.

131

779

Series E
and H

Other

Unclassified
12/

1

..

Treasury Bulletin

70
OWNERSHIF OF YWERkL SECURITIES.

Table

1. -

Distribution of Federal Securities by Classes of Investors and Types of Issues
I

In millions of dollars)

Interest-bearing securities guaranteed by the U.S. Government 4/

Interest-bearing securities issued by the U.S. Government
Held by U.S. Govemjnent
investment accounts 2/

Total
Federal
securities outstanding

End of
fiscal year
or month

Total
outstanding

Public
issues

Special
issues

4,346
4,391
4,347
4,357
4,391

53,482
53,344
53,368
53,189
53,253
53,079

413
i33
454
467
464
460

96
98
97
96
94
94

317
335
357
371
370
367

4,407
4,392
4,418
4,366
4,433
4,477

52,971
52,956

488
483

92
90

396
393

4,401
4,724

44,356
45,781
45,959
44,921
48,805
51,120

40,565
40,189
40,734
40,713
41,480
42,169

217,149
217,126
214,251
214,115
212,060
206,645

163,667
163,782
160,883
160,926
158,807
153,566

66,281
69,195

15.585
15,960

50,696
53,235

42,380
42,518

206,218
207,983

153,247
155,028

319,768
324,904

314,880
319,697

,

.

490
462
453

383
403
376
362
354

15,529
15,824
15,638
15,469
15,582
15,497

317,599
318,921
316,582
315,219
317,927
315,431

Source:
Daily Treasury statement for total amounts outstanding; reports
from agencies and trust funds for securities held by U.S. Government
investment accounts; and reports from Federal Reserve System for
securities held by Federal Reserve banks.
Includes
certain debt not subject to statutory limitation.
1/
For amounts
subject to limitation, see page 1.
Includes accounts under the control of certain U.S. Government agencies
2/

^
/^

interest

94

59,885
61,606
61,597
60,390
64,387
66,618

322,419
323,746
321,454
320,051
322,825
320,369

no

116
116
115
100
100

499

1966- January
February
March.
April. .
May
June

bearing

60
153
277
440
653
450
367

53,503
53,703
53,397
53,579
53,549

64,703
63,472
62,140
62,702
61,767

and
debt

2,042
1,646
2,873
3,090
3,300
3,759
3,907
4,357
4,163
4,477

156,641
155,410
159,363
160,500
160,430

313,896
312,359
314,557
317,357
316,515

.

106
101
110
139
240
444
605
812
589
460

210,144
209,113
212,760
214,080
213,979

318,742
317,270
319,394
322,176
321,359

July
August

62,770
58,825
56,252
51,913
51,025
51,065
51,360
52,023
53,556
53,079

206,645,

1965- August...
September
October.
November.
December.

U,899

189,949
193,418
201,235
201,459
202,417
208,483
211,721
211,598
210,776

Matured
debt

2/

39,049
39,774
39,657
40,575
40,768

46,827
46,246
44,756

Government
investment
accounts

standing

49,780
48,069
46,957
47,052
46,255

8,674
9,596
9,799
10,360
10,959
11,357
13,405
14,337
14,586
15,497

.

Public
nonmarketable
issues

14,923
15,403
15,183
15,650
15,512

55,501
55,842
54,554
55,259
56,002
56,296
58,206
60,964
63,236
66,618

Held by
private
investors
2/

U.S.

Total
out-

Public
marketable
issues

45,043
44,939
44,801
46,627
48,650
51,123

268,486
274,698
281,833
283,241
285,672
294,442
301,954
307,357
313,113
315,431

.

Held by

127,179
134,593
144,983
149,546
151,392
157,418
160,361
159,575
157.220
153,566

270,634
276,444
284,817
286,471
289,211
298,645
306,466
312,526
317,864
32J,36g

.

Held by
Federal
Reserve
banks public
issues

23,035
25,438
26,044
26,523
27,253
29,663
32,027
34,794
39,100
42,169

1957
1958
1959
1960
1961
1962
1963
1964
1965
1966

.

Held by private
investors 2^

50

56

54
63
79
87

46
47

167
165
159
139

519

whose investments are handled outside the Treasury.
The total amount of interest-bearing securities held by private investors is calculated by deducting from the total amount outstanding the
amount held by U.S. Government investment accounts and Federal
Reserve banks.
Consists of guaranteed securities held outside the Treasury. All are
public marketable issues.

Table 2. - Net Market Purchases or Sales of Federal Securities for
Investment Accounts and Other Accounts Handled by the Treasury

1/

(In millions of dollars; negative figures are net sales)

Year

Jan.

Feb.

1940.
1941.
1942.
1943.
1944.
1945.
1946.
1947.

-9.5
-2.8
-.5
-14.5
-9.9
-67.5
-8.1

-20.9
12.0
30.0
-90.3
-105.1
-48.1
-.7

1948.
1949.
1950.
1951.
1952.
1953.
1954.
1955.

-.2
8.8
-6.6
36.8
22.1
24.6
7.0
23.0

177.4
-1.8
13.5
261.2
6.7
8.8
-4.0
77.2

1956.
1957.
1958.
1959.
I960.
1961.
1962.
1963.

-1.3
14.3
-123.4

1964.
1965.
1966.

1/

Apr.

-5.7
5.8

-72.9
-11.5
-5.9

-4.7

.1

-1.6
-.7

-16.5
-55.6
3.3
-61.3

12.9
-22.4
18.9

17.5
-5.6
76.9
80.7

-9.8
72.6
-155.9
23.0
16.5
-21.3
47.1
142.1

10.7
13.4
10.6
62.2
43.1
56.1
18.9
293.5

46.7
35.4
-2.1
44.0
16.4
19.5
18.2
32.3

148.7
397.6
75.1

101.1
210.9
334.5

11J.3
83.2
38.2

44.6
7.0
27.1

U.l

5.1
6.3

482.7
.5

July

Aug.

Sept.

.4

-.2

.4

-35.2
-10.0
-34.4

-145.8
20.5
-56.4
-69.8
-359.2

.3

-12.1
1.5
1.1
8.4
19.9
36.2
-2.9
29.9

106.8

May

.3

.4

-338.6
-30.4
-54.7
-1.9
11.4
2.9
35.9
2.8
56.2

1.1

-88.4
5.1
3.5
1.5

-4.5
-2.7
-28.1
-12.5
-74.1
-123.1

5.4
-.1
8.2

4.4
3.8
-2.0
4.7
1.9

7.2
4.6
5.0
2.8
3.5
38.4
-10.0
11.8

1.4
7.9
-21.7
74.8

-17.2
20.3

53.1
21.8
24.2
39.9
656.2

398.8
15.8
177.2
9.9
-14.5
15.4
-8.7
73.9

49.2
182.4
445.5
32.2
35.5
25.6
61.9
-59.0

26.4
19.1
18.3
44.4
17.3
-304.4
33.5

155.8
143.1
298.8

141.0
69.7
59.4

U5.9

5.7

Consists of purchases or sales, in the market, by the Treasury of securities
Issued or guaranteed by the U.S. Government for (1) trust funds which by
law are under the control of the Secretary of the Treasury or the Treasurer
of the U.S., (2) accounts under the control of certain U.S. Government
agencies whose investments are handled through the facilities of the
Treasury Department; and (3) purchases prior to maturity by the Secretary

1.0

-8.4
-15.8
-19.0
-.2
-41.2
-308.1

20.1
-45.5
22.5

313.4
-86.3

-4.4
-.2

-2.3
-67.8
-18.5
-17.0
-157.8
-609 .

.2

28.7
60.3

.4

9.4

223.4
578.6
264.1

Oct.

-.3

Nov.

-1.1
60.0

-5.0
-5.9

4.8
-12.0

-123.0
-14.1

-57.6
221.0

-20.3
696.4

.1

5.8
8.4
16.5
17.0
21.1
-30.7

-.8
11.5
10.7
-3.6
11.7
-1.1
14.2
7.9

-.2
-.1
7.0
29.0
8.2

41.0
234.8

8.4
10.3
10.6
28.3
3.4
25.1
325.5
373.1

56.2
26.6
17.3
41.1
25.5
36.8
-23.3
345.7

83.9
-67.3
55.1
71.6
105.5
57.3
-25.4
436.7

21.3
33.3
43.7
113.1
39.7
27.8
19.5
33.8

169.8
198.6

126.2
39.8

100.1
233.0

116.8
-1.9

.3

-1.7

.6

of the Treasury of any outstanding securities as authorized under
Section 19 of the Second Liberty Bond Act, as amended (31 U.S.C. 754a).
This table excludes (l) all investment transactions for the Exchange
Stabilization Fund; and (2) all purchases by subscription on original
issue and all securities which are redeemed upon maturity.
Less than $50,000.

September 1966

71

OWNERSHIP OF FEDERAL SECURITIES.

Table

3.

-

Estimated Ownership of Federal Securities
(Par values 1/ in billions of dollarsj

Held by banks
Total
Federal
securities
outstanding 2/

Held by private nonbank investors
U.

Commercial
banks

Federal
Reserve
Banks

2/

S.

Government investment
accounts

Individuals 4/

Mutual

Savings bonds

Total
Total

Series
E and H

Other
series

^

Other
securities

Insiirance sav-

companies ings
banks

State
and
Corporalocal
tions 6/
governments

Foreign
and international
2/

47.6

15.9

2.5

6.5

22.7

10.1

1.9

8.2

6.3

3.1

2.2

279.8
259.5

93.8
74.5

22.9
23.3

28.0
30.9

135.1
130.7

64.1
64.2

30.8
30.3

12.5
13.9

20.8
20.1

24.4
24.9

11.1
11.8

19.9
15.3

6.7
6.3

2.4
2.1

257.4
256.7

65.6
61.8

18.3
20.8

37.8
39.2

135.6
134.9

67.4
66.3

34.5
34.5

15.4
15.1

17.6
16.7

19.8
18.7

11.6
10.9

18.4
19.7

8.7
8.8

3.5
4.3

255.3
259.5

58.4
61.6

23.0
23.8

41.0
42.3

132.9
131.8

65.4
64.6

34.5
34.7

14.6
14.4

16.3
15.5

17.1
16.5

10.2
9.8

20.1
20.7

9.4
9.6

4.2
4.3

259.2
267.4

61.1
63.4

22.9
24.7

44.3
45.9

130.8
133.4

64.8
65.2

34.9
35.3

14.1

15.7
16.0

15.7
16.0

9.6
9.5

18.8
19.9

10.4
11.1

4.7

13.8

266.1
275.2

58.8
63.7

24.7
25.9

47.6
48.3

135.0
137.3

66.1
64.8

36.0
36.7

13.2
12.7

16.8
15.4

16.0
15.9

9.5
9.2

18.6
21.5

12.0
12.7

5.7
5.9

271.3
278.8

63.6
69.2

25.0
24.9

49.3
49.6

133.3
135.1

64.8
63.5

37.5
38.2

12.1
11.7

15.2
13.6

15.4
15.3

9.1

16.5
19.1

13.9
14.4

6.0
6.3

274.4
280.8

63.5
62.0

23.6
24.8

50.5
51.7

136.7
142.3

65.2
65.0

39.3
40.1

10.9
10.2

15.0
14.8

15.0
14.6

8.7
8.5

18.6
23.2

14.7
15.4

6.8
7.5

23.8
24.9

53.5
54.0

138.3
138.2

66.6
65.9

40.9
41.4

9.4
8.7

16.3
15.8

13.6
13.2

8.4
8.0

17.3
18.7

16.1
16.3

7.9
7.8

272.8
276.7

5.3

270.6
275.0

56.2
59.5

23.0
24.2

55.6
55.2

135.9
136.1

66.3
64.9

41.5
41.6

7.6
6.6

17.2
16.7

12.7
12.5

7.9
7.6

16.1
17.7

16.8
16.6

7.6
7.6

276.4
283.0

65.3
67.5

25.4
26.3

55.9
54.4

129.9
134.8

64.4
63.7

42.1
42.5

5.9
5.2

16.4
16.0

12.2
12.7

7.4
7.3

14.1
18.1

16.3
16.5

6.5
7.7

284.8
290.9

61.5
60.3

26.0
26.6

54.6
53.7

142.6
150.3

66.3
69.4

42.6
42.4

4.5
3.5

12.6
12.5

7.3
6.9

19.8
21.4

16.9
18.0

10.1
12.0

286.5
290.4

55.3
62.1

26.5
27.4

55.3
55.1

149.3
145.8

69.7

42.5
42.9

3.1
2.7

24.1
20.5

12.0
11.9

6.6
6.3

19.5
18.7

18.8
18.7

12.3
13.0

289.2
296.5

62.5
67.2

27.3
28.9

56.1

143.3
145.9

64.6
65.9

43.6

54.5

2.5
2.2

18.6
19.5

11.4
11.4

6.3
6.1

18.5
18.5

19.3
19.0

12.7
13.4

298.6
304.0

65.2
67.2

29.7
30.8

56.5
55.6

147.3
150.4

65.7
66.0

2.0
1.8

19.0
19.2

11.4
11.5

6.3
6.1

18.2
18.6

306.5
305.5
307.2
307.3
307.1
308.9
310.1

64.4
63.3
61.7
63.0
63.2
62.8
64.3

32.0
32.5
32.4
32.6
32.8
33.7
33.6

58.4
57.1
58.9
58.3
57.2
57.7
58.0

151.7
152.7
154.2
153.4
154.0
154.7
154.3

66.1
66.9
67.2
67.5
67.7
68.0
68.2

46.0
46.1
46.2
46.3
46.4
46.6
46.7

1.5
1.5
1.5
1.4
1.4
1.4
1.4

18.6
19.3
19.5
19.7
19.9
20.1

11.0
11.1

18.7

20.1

11.2
11.2
11.3
11.3

6.1
6.1
6.1
6.0
5.8
5.8
5.8

309.3
311.1
310.4
308.4
312.3
312.5
312.0
314.9
316.5
316.5
319.3
318.7

62.9
62.2
61.6
61.1
60.0
60.2
59.3
60.1
61.9
62.2
63.6
64.0

32.8
33.2
33.8
33.2
34.2
34.8
35.1
35.2
35.4
35.7
36.8
37.0

56.5
57.5
57.6

68.7
69.0
69.5
68.7
69.1
69.2
69.5
69.0
69.6
69.8
69.7
70.0

46.8
46.9
47.0
47.1
47.2
47.3
47.4
47.5
47.6
47.7
47.8
47.9

1.3
1.3
1.3
1.2
1.2
1.2
1.2
1.1

61.2
60.6

157.2
158.3
157.4
158.0
158.7
156.4
157.7
157.9
157.5
158.0
157.8
157.1

20.6
20.8
21.2
20.3
20.7
20.7
20.9
20.4
20.9
21.0
20.8
21.1

11.3
11.3
11.2
11.0
11.0
10.9
10.9
11.0
11.2
11.2
11.2
11.1

318.6
320.6
318.4
317.2
319.8
317.9
317.1
318.7
317.3
319.4
322.2
321.4

62.9
61.7
60.4
59.7
58.4
58.3
57.3
56.5
57.5
59.7
60.0
60.9

36.7
36.9
37.6
37.8
38.7
39.1
39.2
39.0
39.8
39.7
40.6
40.8

59.1
60.4
60.7
59.2
62.7
63.4
62.3
64.8
63.6
62.3
62.8
61.9

160.0
161.6
159.8
160.6
160.1
157.1
158.3
158.4
X56.4
157.8
158.8
157.8

70.6
71.0
71.5
71.2
71.2
71.1
71.8
71.8
72.2
72.2
72.3
72.3

1.0
1.0

21.5
21.8
22.3
22.0
22.0
21.8
22.5
22.4
22.8
22.8
22.7
22.7

11.3
11.2
11.1
11.0
10.9
10.6
10.6
10.6
10.6
10.5
10.4
10.4

6.0
5.8
5.8
5.8
5.7
5.7
5.7
5.5
5.4
5.4

322.4
323.7
321.5
320.1
322.8
320.4

61.0
53.7
56.9
56.8
54.9
54.5

,6

60.0
61.7
61.7
60.5
64.5
66.7

160.9
163.2
162.1
162.0
161.9
157.0

73.3
73.9
75.1
74.9
74.6
74.3

48.0
48.1
48.2
48.2
48.3
48.3
48.4
48.5
48.5
48.6
48.7
48.8
48.8
48.9
49.0
49.0
49.1
49.2

23.7
24.3
25.4
25.2
24.8
24.4

10.4
10.3
10.2
10.1
10.0
9.7

319.8

53.2

66.4

157.8

74.5

49.3

24.5

y.

.2
.7

.7
.5
.2

56.1

59.4
61.1
59.9
61.8
61.8
60.5

66.1

Office of Debt Analysis in the Office of the Secretary.
Source:
1/ United States savings bonds, Series A-F and J, are included at
current redemption value.
2/ Securities issued or guaranteed by the U. S. Government, excluding
guaranteed securities held by the Treasury.
2/ Consists of commercial banks, trust companies, and stock savings
banks in the United States and in Territories and island possessions.
Figures exclude securities held in trust departments.

U.2

1.1
1.1
1.1
1.0

^
^
s/
7/
8/
2/

11.1

14.1
15.3

19.5
18.0
18.7
19.8
18.7

21.5
21.4
21.6
21.2
20.9
20.6
21.1

15.8
15.6
15.9
16.0
15.9
16.0
15.9

5.9
6.0
6.1
6.0
6.0
6.0
6.0
6.0
6.0
5.8
5.7
5.7

20.0
21.0
19.8
20.2
20.8
18.5
19.0
19.0
17.7
18.7
18.5
17.9

21.2
21.4
21.7
22.6
22.6
22.5
22.2
22.6
22.1
21.9
21.6
21.2

15.9
15.9
15.6
15.3
15.4
15.6
15.8
16.0
16.3
16.3
16.6
16.7

5.8
5.9

18.6
19.0
17.2
17.0
17.6
15.1
15.9
16.1

22.2
23.0
23.2
24.3
24.4
24.1
24.0
23.6
23.0
23.0
22.7
22.8

16.5
16.6
16.0
16.0
15.8
15.7
15.7
15.9
16.3
16.3
16.5
16.7

U.4

23.5
24.3
24.0
24.6
24.7
23.9

16.4
16.2
16.0
15.7
15.6
15.4

14.8

24.2

15.1

18.8

U.7
15.6
16.7
15.5
16.5
17.4
15.7
15.7
16.5

5.0

Other miscellaneous
investors
8/

Includes partnerships and personal trust accounts.
Discontinued series. See savings bonds tables.
Exclusive of banks and insurance companies.
Consists of the investments of foreign balances and international
accounts in the United States.
Consists of savings and loan associations, nonprofit institutions,
corporate pension trust funds, and dealers and brokers.
Preliminary.
Immediate postwar debt peak, p

Treasury Bulletin

72
TEEASUKI SUEffEY OF CWNERSHIP, JULY 31, 1966,

The monthly Treasury Survey of Ownership covers securities issued by the United States Government and by Federal agencies. The banks and insurance companies included
in the Survey currently account for about 90 percent of all
The similar
such securities held by these institutions.
proportion for corporations and for savings and loan associations is 50 percent, and for State and local governments,
Data were first published for banks and in70 percent.
surance companies in the May 19^1 Treasury Bulletin, for

Section

I -

corporations and savings and loan associations in the September I960 Bulletin, and for State and local governments
in the February 1962 Bulletin.
Holdings by commercial banks distributed according to
Federal Reserve member bank classes and nonmember banks are
published for June 30 and December 31. Holdings by corporate pension trust funds are published quarterly, first
appearing in the March 1954. Bulletin.

Securities Issued or Guaranteed by the United States

Table

1. -

Summary

of All Securities

(Par values - in millions of dollars)

Government

J

73

September 1966
TREASURY SURVEY OF OWNERSHIP, JULY 31, 1966

Section

I

-

Table

Securities Issued or Guaranteed by the United States Government
3. • Interest-Bearing Public Marketable Securities by Issues
(Par values

-

in millions of dollars)

Held by investors covered in Treasury Survey

Issue

Total
amount
outstanding

5lX

cominer-

mutual
savings
banks

oial
banks
2/

y

295

life

2/'

33,923
16,005
1,000
1,000
1,001
1,001
1,001

2,897
1,450
72
77
137
98
227

231
75

37

4
5

Total Treasury bills

54,931

1,652

Treasury notes;
Aug.
4%
Nov.
4
Feb.
4
Feb.
3-5/8
May
4-1/4
4-7/8
Aug.
Aug.
3-3/4
Nov.
4-7/8
5

1-1/2
1-1/2
1-1/2
1-1/2
1-1/2
1-1/2
1-1/2
1-1/2
1-1/2
1-1/2

Nov.
Oct.
Apr.
Oct.
Apr.
Oct.
Apr.
Oct.
Apr.
Oct.
Apr.

1966-A
1966-E
1967-C
1967-B
1967-D
1967-E
1967-A
1967-F
1970-A
1966-EO
I967-EA
1967-EO
1968-EA
1968-EO
1969-EA
1969-EO
1970-EA
1970-EO
lg71-EA

Total Treasury notes

Treasury bonds:
June
2-1/2
2-1/2
Dec.
2-1/2
June
2-1/2
Dec.
Mar.
2-1/2
2-1/2
Mar.
3

3-3/8
2-1/2
2-1/2
3-5/8
2-1/2
3-7/8
3-3/4
3-7/8
4
4
4
4
4
3-7/8
4
4
4
4-1/8
4-1/8
4-1/4
3-7/8
4-1/4
3-1/4

Aug.
Nov.

June
Sept.
Nov.
Deo.

May
Aug.
Nov.
Feb.
Oct.
Feb.
Aug.
Aug.
Nov.
Feb.
Aug.
Aug.
Nov.
Feb.

May
Nov.

May
June

1962-67
1963-68
1964-69
1964-69
1965-70
1966-71
1966
1966
1967-72
1967-72....
1967
1967-72
1968
1968
1968
1969
1969
1970
1970
1971
1971
1972
1972
1973
1973

1974
1974
1974
1975-85...
1978-83...

Footnotes at end of Section II.

8,436
2,254
5,151
2,358
9,748
2,117
2,929
8,135
7,675
357
270
457
212

488
savings
and loan
associations

140
35

192
69

1

2

1

4

10
7

4

^

469
corporations

191

pension
316
general and refunds
tirement
funds

287

308

U.S. Government investment accounts
and Federal
Reserve banks

6,800
3,092
206

8

1,907
983
37
31
24

3

1

2

47

6

3

3

53

3,274
1,565
99
84
104
110
233

4,958

329

46

292

3,081

5,469

910

81

16

99

76

21

51

22
32
18
33

111
123
155
286
48

219
135
171

6

2

26

91

17

23

104

118
193
113
166
72
38

25

5,965
588
3,230
395
6,806
1,308
389
6,996
1,383

32

27,061

2
7

149
219
422
515
688
372

115
61
159
88
113
15

663
806
889
1,214
379
1,495
429
2,790
30
104
180
95
48
25
66
21
61
4

50.650

10,287

1,430
1,790
2,546
2,495
2,313
1,397
700
1,851
1,270
1,952
2,019
2,666
2,460
3,747
1,591
3,728
6,257
4,381
4,129
2,806
2,760
2,344
2,579
3,894
4,356
3,130
3,593
2,243
1,217
1,579

471 fire,
casualty,
and

marine

Treasury bills:
Regular weekly and annual
maturing:
July 1966-Oct. 1966
Nov.
1966- Jan. 1967
Feb.
1967
Mar.
1967
April 1967
May
1967
June 1967

Certificates of indebtedness:
Nov.
1966-A
4-3/4$

State and local
governments

Insurance companies
5,926

926
1,186
1,126
756
454
288
737
356
1,048
530
570
582

1,554
605

966
2,004
1,937
1,343
949
1,014
742
743
1,174
1,736
1,220
1,315
380
79
39

4

4

50
38
34

34
49
56
9

43

92

39
6
83
23
189
6
6

21
17

44
215

4

1

4

9

13
«

2

6
1

68

1

194
46
118
114
176

1
1

2
1

220
278
299
187

11,081

1

22
69
56
36

4
541

15
32

_53<L.

2

18

274

7

23

94
163
77
49
16
197
223

25
28
38
35
25
9

89

66

51

31
15

84

78

1
1

8

34
38
158

40
24
19
25
22
41
52
23
62
36
122

26
18
21
34
47
80

23
25
6

37

8
15

88
67
82

45
9
16

169
163
147

153
114
125

84.

90
142
116
128
150
184
162
131
94

67
167
170
150
101

68
13

14

13
17
37

55

80
62

48

39

94
102
75
212
196
157
105
66
32

28

168

30

95
134
113
194
240
134
300
58

51

98
33
43
28
37

1,242

35

97
74
112

13

1.727

83

42

35
24
26

99

313

(Continued on following page)

44
64

16
41

17
31

41
23
3
3

17

90
43

62
46

20

23
8

92

4

164
131
170
77
99
280
190
90

63
35
14

21
33
88
43
22
19
60
21
1

10
10
28
4
26
7

24
6

21
4

80
129

64
82
174
176
75
84
136
71
228

3
3

46

57

257
124
80

600
220
474
609
131
,350
579

41
14
26
32
48
76
62

429
406
596
406
247
493
474
279

50

488

60
84
178
360

411
668
409
201

10

Treasury Bulletin

74
TREASURY SURREY OF CWNERSHIP, JULY 31, 1966,

Section

Table

3.

I
-

- Securities Issued
or Guaranteed by the United States Government
Interest-Bearing Public Marketable Securities by Issues - (Continued)

(Par values - in millions of dollars)

September 1966

75

TKEASUEI SUIWEY OF OWNEESHIP, JULY 31, 1966,

Section II

-

Interest-Bearing Securities Issued by Federal Agencies But

Not Guaranteed by the United States Government

Footnotes at end of table.

(Continued on following page)

Treasury Bulletin

76
TREASURY SUBTEY OF OWNERSHIP, JULY 31, 1966,

Section

Not

Interest-Bearing Securities Issued by Federal Agencies But
Guaranteed by the United States Government - (Continued)

II

-

September 1966

77
MARKET QUOTATIONS ON TREASURY SECURITIES, AUGUST 31, 1966

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.

Table

1. -

The securities listed include all regularly quoted public
marketable securities issued by the United States Treasury. Securities issued by Federal agencies and guaranteed
by the United States Government are excluded.

Treasury Bills

m

Ireasury Bulleti

78
MARKET QUOTATIONS ON TREASURY SECURITIES, AUGUST 31, 1966

Table

4.

-

Treasury Bonds

September 1966

79
MARKET QUOTATIONS ON TREASURY SECURITIES, AUGUST 31, 1966.

u
UJ

COOl
at

o
o
ID

o

.

Treasury Bulletin

80

___AVEB/GE YIELDS OF LOMG-TEIW
Table

1. -

BOltDS.

Average Yields of Treasury and Corporate Bonds by Periods
(Percent per annum}

Treasury
bonds 1/

Period

Moody's Aaa
corporate
bonds

Treasury
bonds 1/

Period

Moody's Aaa
corporate
bonds

Treasury
bonds 1/

Moody's Aaa
corporate
bonds

Annual series - calendar year averages of monthly series

2.46
2.47
2.48
2.37
2.19
2.25

19i2
1943

19U
1945
1946
1947
1948
1949

2.U
2.31

2.83
2.73
2.72
2.62
2.53
2.61
2.82
2.66

2.32
2.57
2.68
2.94
2.55
2.84
3.08
3.47

1950.
1951.
1952.
1953.
1954.
1955.
1956.
1957.

Monthly series

Treasury
bonds 1/

Period

Moody's Aaa
corporate
bonds

-

3. 89

I
I
a

1
J

I
J
I

1958.
1959.
I960.
1961.
1962.
1963.
1964.
1965.

3.43

4.08
4.02
3.90
3.95
4.00
4.15
4.21

3.79
4.38
4.41
4.35
4.33
4.26
4.40
4.49

averages of daily series

Treasury
bonds 1/

Period

2.62
2.86
2.96
3.20
2.90
3.06
3.36

Moody's Aaa
corporate
bonds

Trea sury
bonds 1/

Moody's Aaa
corporate
bonds

Weekly series - averages of daily series for weeks ending

1966-March

4.

11.
18,

25.

4.71
4.68
4.63
4.57

4.85
4.88
4.93
4.97

1966-May

6
13
20

4.59
4.54
4.55
4.60

27

4.94
4.95
5.01

lo66-July

1.

8.

15,

5.02

22,

29,

April

1
8,

15,
22,
29,

4.54
4.52
4.55
4.57
4.58

4.99
4.98
4.95
4.95
4.95

June

4.62
4.63
4.63
4.59

3

10
17
24

5.04
5.06
5.06
5.07

August

4.69
4.72
4.78
4.75
4.72

25,

4.73
4.73
4.81
4.87

22,

4.83

4,

11.
18,

Daily series unweighted averages

1966- August

4,

4.73
4.72
4.74
4.73

5,

4.74

5.23
5.23
5.24
5.25
5.24

8
9

4.72
4.73
4.74

5.24
5.25
5.24

1.

2
3,

10,

1966-Augu3t 11.
12.

4.74
4.74

5.25
5.26

15...
16...
17...
18...
19...

4.76
4.79
4.81
4.83
4.84

5.28
5.29
5.30
5.32
5.35

1966-August

23

24
25
26,

29
30,

31

±

5.10
5.12

5.U
5.17
5.22

5.37

September 1966

81
AVERAGE YIELDS OF LONG-TERM BOhTOS

o
o
CD
LU
a:

O
Q.
t£
o
o
I

I

UJ

V

i

I

lij

o

cb

2
O
_i

.1

UO

a
-J
LU

LU

O
<
tr
UJ

3

i
s

Treasury Bulletin

82
INTERNATIONAL FINANCIAL STATISTICS.

Table

1. -

U.S. Gold Stock, and Holdings of Convertible Foreign
Currencies by U. S. Monetary Authorities

'i

September 1966

.

Treasury Bulletin

84
.INTERNA.TIONAL FINANCIAL STATISTICS.

Table

-

4.

Estimated Gold Reserves and Dollar Holdings of Foreign Countries
and International Institutions 1/
(Position at end of period in millions of dollars)
1965

19 6A

Area and country

Western Europe:
Austria
Belgium
Denmark
Finland
France
Germany, Fed. Republic of.
Greece
Italy
Netherlands
Norway
Portugal
Spain
Sweden
Switzerland
Turkey
United Kingdom
Other 2/
Total Western Europe

Gold and
shortterm
dollars

U.S. Gov-

ernment
bonds
and notes

9^3

1,983
14
SI.:

1

,392
,258
24s

7
1

231
2,i3

21?
730

1,010
833
i,095

2

40
79

IW
4,020
503

4,010

Latin American Republics;
Argentina
Brazil
Chile
Colombia
Cuba
Mexico
Panama, Republic of.
Peru
Uruguay
Venezuela
Other
.

368
189
5,646
5,918

3,824

414
49

690

362
350
219

3,492
373
402
240
190

12
904

11

3S2
124
330
295

.

273

1,1"

Total Latin American Republics.

W

263
795
1,011
921
4,088
145
4,715
341

33,357

32,733

Canada

Gold and
shortterm
dollars

1,0';'7

478

538

,381

4,457

Asia;
India

306

Indonesia
Japan
Philippines
Thailand
Other

153
53

3,071
256
562
2,059

43

,170
281
592
,234

Total Asia

i^',327

49

6,688

Africa:
South Africa
United Arab Republic (Egypt).
Other Africa

Total Africa

621
163
283
1

,

067

Other countries:
Australia
Other 2/
Total other countries

Total foreign countries

International and regional 4/.
Grand total

49,302

1,501

7,ltl

56,463

2,405

U.S. Gov-

ernment
bonds
and notes

85

September 1966
JNTERMTIONAL FIMNCIAL STATISTICS.

Table

5.

-

Liabilities to Foreign Official Institutions

and International and Regional Organizations

(In millions of dollars)

1/

Treasury Bulletin

86
CAPITAL MOVEMENTS

Background
Data relating to capital movements between the United

"Short-term" refers to obligations payable on demand

States and foreign countries have been collected since 1935,

or having an original maturity of one year or less, without

pursuant to Executive Order 656O of January 15,
tive Order 10033 of February
promulgated thereunder.

8,

19'i9,

1934-,

Execu-

and Treasury regulations

Information on the principal types of

data and the principal countries is published monthly in the

deduction of any offsets.

"Long-term" refers to obligations

having an original maturity of more than one year, and includes securities having no contractual maturity.

Exclusions

Reports by banks, bankers, securities

The data published herein do not cover all types of

brokers and dealers, and nonbanking business concerns in the

capital movements between the United States and foreign

United States are made initially to the Federal Reserve Banks,

countries.

"Treasury Bulletin."

The data reported to and published by the Treasury

These

Department exclude entirely the intercompany capital trans-

statistics are consolidated by the Treasury and published as

actions of business enterprises in the United States with

promptly as possible.

their own branches and subsidiaries abroad or with their for-

which forward consolidated figures to the Treasury.

The reporting forms and instructions used in the collection of the statistics have been revised a number of times.

The nest recent revision became effective with reports covering
data as of May 31, 1963.1/

A detailed

description of the

content of the statistics, including the changes instituted,
appeared in the July 1963 issue of the "Treasury Bulletin,"
pages 79-81.

As a result of changes in presentation intro-

duced in that issue, not all breakdowns previously published
will be exactly comparable to those now presented.

Basic definitions

The term "foreigner" as used in the Treasury reports

eign parent companies; such transactions are reported by

business firms to the Department of Commerce.

shipments and receipts of United States currency are also
excluded from the Treasury reports

abroad and the foreign subsidiaries and offices of United

States banks and business concerns; the central governments,

Certain capital trans-

.

actions not effected through reporting institutions, such as
securities transactions carried out entirely abroad, are not

recorded in the Treasury reports.

Consolidated data on all

types of capital transactions are published by the Department
of Commerce in its regular reports on the United States

balance of payments.
The liabilities data exclude nonnegotiable, noninterest-

covers all institutions and individuals domiciled outside
the United States, including United States citizens domiciled

Data on the

capital transactions of -the United States Government and on

bearing special notes of the United States held by the Inter-

American Development Bank and the International Development
Association.

The data on securities transactions and on foreign

central banks, and other official institutions of foreign
countries, wherever located; and international and regional

holdings of U.S. Government bonds and notes exclude non-

organizations, wherever located.

marketable U.S. Treasury notes, foreign series, and non-

In general, data are reported opposite the foreign

country or geographical area in which the foreigner is domiciled.

Data pertaining to branches or agencies of foreign

official institutions are reported opposite the country to

which the official institution belongs. Data pertaining to
international and regional organizations are reported opposite

marketable U.S. Treasury bonds, foreign currency series
(see "International Financial Statistics" section. Table
2).

Presentation of statistics
Data collected monthly on the Treasury Foreign Exchange

Forms are published in three sections.

Section

I

provides a

the classification "International," "European regional," or

summary of the principal data by period; Section II presents

"Latin American regional," as appropriate, except for the

data by country and by period; and Section III shows detailed

Bank for International Settlements and the European Fund,

breakdowns of the latest available preliminary data.

which are Included in the classification "Other Western

Europe

."

Section IV presents supplementary data which are reported

less frequently than monthly but which are published monthly.

1/ Copies of the reporting forms and Instructions may be obtained from the Office of Balance of Payments
Programs, Operations and Statistics, Office of
tne Assistant Secretary for International Affairs, Treasury
Department, Washington, D.C. 20220 or from

Federal Reserve Banks.

.

87

September 1966
CAPITAL

UOYMEmS,

Section I - Summary by Periods
Table l.-Net Movements of Banking Funds and Transactions in Long-Term

Securities with Foreigners]/

(In millions of dollars; negative figures indicate a net outflow of capital from the United States)

Analysis of net movement
Changes in liabilities to foreigners
Calendar year
or month

Net
movement

Total

1946.
1947.
1948.
1949.
1950.
1951.
1952.
1953.
1954.
1955.
1956.
1957.
1958.
1959.
I960.
1961.

-767.6
261.8
280.9
164.5
1,576.3
-387.7
1,225.2
1,278.1

1962 2/
1963
1964
1965 6/
1966 Jan. - July p 7/

305.4
-836.9
-532.2
-994. Ir
1,775.5 7/

521.9

945.0
416.4
-940.5
-903.6
3,338.5
479.8
-404.8

y

-

V
y

1965-July
August
September
October
November
December

33.0
567.4
263.2
254.2
-255.8

1966- January 8/
February 7/

291.6
-246.4 7/

March
April
May
June p
July p

y
2/

y
y
y

y

-137. 3r

.

.

.

Short-term
banking
funds

Long-term
banking

-418.4
636.2
601.5

0.5
3.2
-3.6
-0.3
0.3
0.2
1.1
-0.4
0.8
0.1
-1.5
8.7
-8.3
-0.8
6.7
-5.2

-752.1
550.3
405.7
-25.1
1,971.5
73.3
1,560.0
1,090.5
1,420.3
1,367.4
1,493.2
369.6
989.8
4,353.2
2,268.0
1,909.2

1,026.8
657.4
1,243.9
1,102.4
1,270.2
682.1
1,338.4
219.1
1,000.8
3,229.6
1,882.9
1,178.7

1,822.9
1,888.4
2,631.9
-134.8
2,022.0 7/

2,486.0
948.5
2,906.2
198.4
1,685.8 7/

-100.

y

-68.8
586.9
357.2
236.2
-98.2
-13.8
233.0
-243.5 7/

35. 3r

232. 5r

272. 9r

355.9r
407.3
188.0
848.8

338.1
162.6
921.4

Changes in claims on foreigners

Transactions

y

81.4
678.0
371.9
321.6
-62.5
-99.3

205.5
-123.3 7/
112.2
251.8
208.9
-45.7
1,076.4

funds

5.1

62.1
236.2
203.6
499.9

-58.7
0.9
7.1
-35.2
47.5
47.3
1.4
-4.4
57.9
157.3
117.6
131.5
38.6

For an explanation of statistical presentation and exclusions, see
headnote on page 86.
Through 1949, transactions in U.S. Government bonds and notes include
transactions in domestic corporate bonds.
Data below the line include changes in liabilities and claims reported
by a number of banks included in the series beginning December 31, 1961.
Change includes claims previously held but first reported as of May 31,
Also
1963; as of that date such claims amounted to $85.6 million.
includes claims reported by banks for the first time as of December 31,
1963; as of that date such claims amounted to $193.2 million, representing in part claims previously held by banks but not reported.
Change in short-term liabilities includes a net increase of f50.8
million as of December 31, 1964, arising from changes in reporting
coverage.
Data below the line on changes in claims reflect the exclusion from

U.S. Gov'

bonds
and
notes 2/

in;

Short-term
banking
funds

Other
domestic
securitie
2/

-269.7
61.5
-47.9
96.4
942.1
-683.0
302.3
-82.0
8.2

-64.5
-150.6

-1U.3

-15.5
-288.5
-124.8
189.6
-395.2
-461.0
-334.8
187.6
-898.4
-422.4
-1,076.8
-1,310.1
-1,893.4
-1,014.7
-1,788.2
-2,314.0

529.0
-135.0
-52.1
36.3
688.9
126.6
512.2

-21.2
2.3
98.7
12.7
70.5
141.1
156.2
291.3
193.9
-39.0
435.5
251.8
223.5

-728.0
670.9
-337.7
-75.8
-545.9

59.8
206.9
-172.8
-461.0
382.2

-1,517.5
-2,725.3
-3.164.1

20.2
8.3

-111.7
-100.3
-27.7
-6.2
-27.3
36.6

151.8
-19.5
-94.0
18.0
-157.6

5.9

-44.0
-55.9
1.6

y

y

3ry

-246.5

y

58.6
-2.9
-197.2
-83. Or
-69.2
-25.4
72.6

12. 3r

140.6
95.9
-20.4

-300.4
-30.4
-511.1
-722.1
-1,362.5
-749.7
-644.7
-830.4

-126.6
-869.5
-941.6

y

176. 4r 8/

85.4
-118. 3r
115.9
-86.3
-85.0
128.0

secuj-ities

y

-232. 2r^
143.7

-1,047.9
-1,044.2
-728.1
-952.5
-606.3

12.3
-24.9
-28.8
11.9
7.3
50. 3r

-48.6
-22.6
-108.4
-100.6
-70.5
-27.9

73. 3r

-191.1
-110.8
-109.9

22.5
31. Or
-27. 4r
-13.6
30.1
27.8

-171. 5r
30.7

29.5
-83.2

the series beginning December 31, 1964 of short-term U.S. Government
claims previously included; and the addition to the series of claims
arising from the inclusion of claims previously held but first reported as of December 31, 1964, and from revisions of preliminary
figures.
Change in short-term liabilities excludes $776.3 million representing
letter of credit issued by the U.S. Treasury Department to the International Monetary Fund in payment of the dollar portion of the U.S.
quota increase which became effective on February 23, 1966.
Data below the line on changes in short-term claims reflect the addition to the series of short-term claims held in custody for domestic
customers but reported by banks for the first time beginning December 31,
1965, and short-term claims reported by banks reporting for the first
time.

p

-343.0
-811.6
-1,494.4
325.4
216.1

Transactions
in foreign

265.1
39.0
-94.8
27.8
-145.4
-377.0
-217.9
-72.2

34.9

-86.8
39.8
-29.0
-173.6
-13.5
-36.6
115.6
-116.0
-230.0
-168.5
-334.3
-188.3
-183.0
-153.3
-335.4

188.1
28.0
43.2
106.7
-94.4
-145.9

-123. 5r

34.9
2.0
116. 9r

-117.8
-54.5
-65.5
-59.8
6.3
-245.8

2/

-859.

-315.5
-240.7
-69.8
190.8
-76.2
-70.5
-80.3
144.2
-482.0
-162.0
-397.2
-253.7
-342.6
-82.0
-990.2
-1,148.2

Long-term
banking
funds

Preliminary.

r

Revised.

,."

.

Treasury Bulletin

66

(f

CAPITAL MOVEMENTS
Section

Table

2.

-

Banking

I

-

Summary by

Liabilities to

Periods

and Claims on Foreigners

V

(Position at end of period in millions of dollars)

Short-term claims on foreigners

Short-term liabilities to foreigners
Payable in dollars

Total
shortterm
liabilities

End of
calendar year
or month

Foreign countries
Official
institutions

Foreign
banks

4,179.0
3,043.7
1,331.9
2,336.3
2,907.7
3,615.5
3,547.6
4,654.2
5,666.9
6,770.1
6,952.8
3,045.4
7,916.6
8,664.9
9,154.3
10,212.3
10.893.2
10,893.3
11,915.3
12,436.9

2/
2/
2,064.0
2,528.2
2,569.8
2,529.3
2,530.4
2,943.1
3,362.9 4/
3,413.0 4/
3,460.5
4,601.1
4,704.8
5.299.5
5,380.4
5,251.0
5,713.0

1964 8/ 2/

28,873.4 8/13,220.3

1965 12/

29,071.8

13,065.9

1965-July
August
September.
October
November

27,862.1
28,540.1
28.912.0
29,233.6
29.171.1

29,071.8

1945
1946
1947
1948
1949
1950

6,883
6,480
7,116
7,713
7,618

1951

9,302
10,546
11,648
12,918

8,6U

1952
1953
1954
1955
1956
1957
1958
1959

2,678.5
2,922.2
2,972.8
2,947.1
3,001.5
1,392.5
1,513.0
1,675.8
1,779.1
1,805.1
1,783.5
2,029.8
2,252.3
2,430.4
2,393.1
2,229.6
2.355.5
2,356.9
2,564.4
3,046.2

473.7
2,262.0
1,364.3
1,657.3
1,527.8
1,641.1
1,584.9
1 ,629.4

in

foreign
currencies
25

.9

40
49
70

1.4
4.6
1.0

51

.7

U

1.0
1.2
2.3
1.8
2.7
2.8

72
61

43
43
40.3
48.8
59.0
59.4
77.2

1,769.9
1,831.1
1,452.1
1,517.3
1,544.0
3,158.1
4,011.3
3.751.7
3,751.7
5,144.5
4,637.1

150.4 6
150.4"!/
143.4 6/
134.1 6/

7.5
2.2
2.2
7.3
69.4

7,213.4 8/

i,31b.3i/X,^13.'i

89.9 8/

310.2

7,359.7

3,587.2

4,999.6

59.3

513.8

11,747.8
12,058.9
12,326.2
12,403.2
12,578.9

7,388.5
7,824.8
7,840.1
8,087.7
7,817.4

3,483.3
3,484.8
3,503.0
3,545.8
3,591.6

5,145.5
5,058.3
5,125.0
5,096.1
5,084.6

97.
113.
117.
100.

98.

446.3
447.2
454.3
419.0
466.5

13,065.9

7,359.7

3,587.2

4,999.6

59.

513.8

966- January
February 12/.
March ViJ
April 12/
May \2/.
June p 12/.

29.277.2
12,550.1
29,153.912/12,156.7
29,266.212/12,157.6
29,517.912/12,230.5
29,726.812/12,458.2
29,681.012/12,333.1

7,674.3
7,741.9
7,759.1
7,872.6
7,932.5
8,064.9

3,592.0
3,657.8
3,675.8
3,712.2
3,703.9
3,746.0

5,095.3
365.
5,209.712/337
5,292.212/381
5,296.612/405
5,195.512/436
5,081.412/455

6/

515.2
510.8
568.7
726.0
843.6
975.1

July p 12/...

30,757.412/12,680.7

8,680.9

3,719.8

5,190.512/485

6/1,013.7

13,600,

14,939
15,153,

16,159
19,383

1%0

w

21,271,
22.450,

1961

22,532
25,018

%i..:.

1962
1963

25,967,

.

.

December 11/,
1

2/

^,
2/

Other
foreigners

Payable
International
and
regional

Total
longTotal
term
shortliabilterm
ities
claims

.

1.2

9.9
1.6
.8

113.1

%

6/

Payable in dollars

Loans to:
Official
institutions

Foreign
banks

Other
foreigners

Other
claims

2/
2/
2/
2/
2/

245.0
290.5
490.6

100
319
292

392.8
708.3
948.9
1,018.7
827.9
898.0

73.4

151

%8.4

86.1

177
122
156
206
328
405
385

109 .3
142 .0
235 .6
330 .4
303 ,0

439
497
524
699

427
460
482
617

709.

^22;

1/

I

361

222

2/

1,048.7
87.9
85.2
904.5
1,386.5
243.0
160.9
1,548.5
176.6
1,945.7
241.9
2,199.4
2,542.0
400.7
2,624.0
350.9
3,614.2
290.3
4.762.3
328.5
4,820.3
328.5
5,163.2
358.9
186.0
5,974.9
223.3
7.469.3
7,957 2 2/220.8
7,631 7
271.2
'271.2
7,727
241.4
7,569
7,541
233.5
239.2
7,498
264.8
7,391
7,485
251.3
7.631
271.2
7,727. br^Zf1.2
257. Or
7,551.
223. 6r
7,465.
231. Or
7,584.

104 .2
109 ,3
131

,7

.5
,1
,1

557.1

494.3
328.7
503.4
627.9
451.5
584.1

660.0
883.8
1,121.6
1,076.7
1,093.2
1,837.8

7,468.
7,554.
7,639.

223.9
245.0

.565
1,567.
1,497.
1,496.
1,507,
1,425.
1,519.
1,585.

1,087.8
1,073.9

2,531.1
2,573.9
2,652.9
3,429.4
4,158.8
4,559.6
4.190.2
4,267.8
4,233.8
4,211.5
4,152.5
4,089.0
4,095.5
4.190.2
4,267.8
4,213.7
4,217.8
4,275.6
4,346.3
4,302.1
4,265.9

7,511.5

215.0

1,569.9 1,074.3

4,227.1

1W:

220. 5r

952
954
1,373
1,402.
1,565.
1,567,
1,422,
1,458.
1,467.

1,U0
1,535
1

.6

641,
773.
1,054.

1,149
1.130 .4
^7129^
1,139.
1,128.
1,106.
1,101
1,100
1.130
1,129.
107.
1,091.
1,124.
070.

Payable
In
foreign
currencies
47.5
98.1

165.4
100.4
110.8
240.6
91.8
73.4
101.6
211.0
163.9
149.6
147.3
197.7
217.2
479.6
585.6

530557.1

630.8
659.0

T24T5

Total
longterm
claims

175.6
140.7
227.5
187.7
216.7
390.4
403.9
440.5
324.9

U0.9
670.9
839.4
1,173.8
1,362.1
1,545.1
1,698.4
2.033.8
2,033.8
2,160.4
3,029.8 2/
3.971.4
4,284.7 2/

474.0
491.9
532.9
509.3
532.8
496.2
502.8
474.0
491.9
475.4
436.0
444.7
406.0
420.7
469.2

4,443. 6r
4,421. Ir
4,390. Ir
4,417.5
4,431.1
4,401.0

425.1

4,373.2

4,516.9r

4,532.8
4,557.7
4,586.5
4,574.6
4,567.3
4,5l6.9r

1

For exclusions see headnote on page
Included with "Other foreigners."
Included with "Other claims."
Beginning in August 1956 and also in April 1957, certain accounts
previously classified as "Fco-eign banks" are included with "Official
institutions
Differs from 1961 end of year data on the preceding line by inclusion
of liabilities and claims reported by a number of banks included in
the series beginning December 31, 1961.
Includes reported liabilities to foreign official institutions beginning October 1961. Figures for selected dates are as follows:
end 1961, $46.3 million; end 1962, $47.9 million; end 1963, $30.1
million; end March 1966, $317.2 million; end June 1966, $367.2 million;
end July 1966, $392.5 million.
Includes claims previously held but first reported as of May 31, 1963;
ea of that date such claims amounted to $85.6 million.
Also includes
claims amounting to $193.2 million reported by banks for the first
time as of December 31, 1963, representing in part claims previously
held by banks but not reported.
Short-term liabilities include a net Increase of $50.8 million arising
from changes in reporting coverage, distributed as follows: "Official

2/

.

y
6/

7/

8/

10/
11/

12/

institutions" -$4.0 million, "Foreign banks" +$60.3 million,
"Other foreigners" +$22.5 million, and "Payable in foreign currencies"
-$27.9 million.
Data on claims below the line differ from claims above the line because of the exclusion as of December 31, 1%4 of $58.1 million of
short-term U.S. Government claims previously included; and because
of the addition of $545.9 million of short-term claims and $313.3
million of long-term claims arising from the inclusion of claims
previously held but first reported as of December 31, 1964, and from
revisions of preliminary figures.
See footnote 11.
Data on claims below the line differ from claims above the line because of the addition of short-term claims held in custody for
domestic customers but reported by banks for the first time beginning
December 31, 1965, and short-term claims reported ty banks reporting
for the first time.
Short-term liabilities exclude $776.3 million letter of credit issued
by the U.S. Treasury Department to the International Monetary Fund
in payment of the dollar portion of the lU.S. quota Increase which
became effective on February 23, 1966.
Preliminary.
r Revised.

4

5

..
.
.

7

1

89

September 1966
CAPITAL MOVEMENTS

Section

Table

3.

-

-

I

Summary by

Purchases and Sales of Long-Term

Periods

Domestic Securities by Foreigners!/

United States)
(In millions of dollars; negative figures indicate a net outflow of capital from the
Corporate and other

U.S. Govemjnent bonds and notes 2/

Calendar year or month

Foreign countries

Sales

Purchases

Total
Official

414.5
344.8
282.4
430.0
1,236.4
673.6
533.7
646.0
S00.9
1,341.1
883.4
666.1
1,223.9
1,216.9
1,729.6
1,743.7
1 ,779.9
1,867.1
1,149.4
1,077.2

194b..
19i7..
19i8.,
19.i9..

1950..
1951..
1952.
1953.
1954.

1955.
1956.
1957.
1958.
1959.
I960.
1961.
1962.
1963.
1964.
1965.

1966 January-July p.

485.

.

May
June p
July p

—

-269.7
61.5
-47.9

670.9
-337.7
-75.8

-58.7
-19.6

36.0

1,031.4

-545.9

-252.0

7.4
92.3
13.9
62.3
296.6
13.6
27. iS

18.8
153.8
15.8
13.9
188.7

1966-January..
February.
March
April

271.7
70.3
79.4
248.5
71.9
262.0

7=!. 2

.

-269.7
-13.0
-55.4
9.4
824.2
-663.7
292.7
-96.7
-60.0
561.7
-204.9
117.0
-236.7
523.9
-97.9
-20.0
-206.6
369.1

684.2
283.3
330.3
333.6
294.3
1,356.6
231.4
728.0
792.7
812.1
1,018.3
718.3
1,187.6
528.0
1,603.0
1,231.5
2,507.9
1,196.2
1,487.1
1,153.0

27.6
100.7
19.7
18.3
240.6
15.3

1965-3uly
August. . .
September.
October. .
November
December.

Other

16.2

96.4
942.1
-683.0
302.3
-82.0
8.2
529.0
-135.0
-52.1
36.3
688.9
126.6
512.2
-728.0

20.2
8.3
5.9
-44.0
-55.9

-1.9

-11.0
-3.1

1.6

-3.8
-117.8
-54.5
-65.5
-59.8
6.3
-245.8

-4.6

-253.1

Table

4.

-

Purchases

95.1

25.5

-319.4

894.7

20.0

.2

14.2
5.8
-33.1
-4.7
1.4

-4.0

Sales

1/
2/
1/

2/
2/

120.0
200.1
212.8
289.7
324.7
287.1
310.2
361.4
368.8
442.4
316.9
307.7
255.7
460.
675.0

y
y

.1

.1

-43.1
.2

-9.B

-136.4
-50.3
-67.9
-50.6
-4.8

y

Purchases and Sales of Long-Term

y
y
y
y
-.6

367.6
226.1
369.7
354.1
666.9

-21.6
11.7
15.3

739.8
650.2

Net
purchases

Sales

Purchases

432.1

376.7
514.1

-64.5
-150.6
-144.3
-21.2
2.9
120.3
1.0
55.2
135.0
127.5
256.0

-99.2
-51.3
9.3
176.3
38.3

3,632.1

-499.3

357.7

537.1

3,016.1

3,171.0

-154.9

-163.8

38.3
16.6
46.0
30.3
61.6
198.0

5^.6
24.3
35.3
31.0
53.7
67.5

-15.8
-7.8
10.7
-.7
7.8
130.5

204.9
217.9
319.2
404.2
364.5
445.6

300.7
310.5
357.7
409.7
399.7
539.5

-95.8
-92.5
-38.5
-5.6
-35.2
-93.9

-91.5
-91.9
-21.9
-50.2
-33.3
38.2

63.5
74.6
220.1

41.2
52.2
63.7
34.5
35.5
46.5
84.0

22.3
22.4
156.3
33.5
150.0
138.8

407.6
414.5

395.1

12.6
-20.4
-39. 4r
-21. 3r

416.
359.0

6.1

28.7
35.3
51.3
17.3
72.6
50.1

13.7

589.1
1,115.1
1,561.2
1,619.5
1,306.4
1,397.3

2,224.4
1,976.5
3,067.3
2,260.2
2,724.0
3,076.2

4/K2.5r
509. Ir

530.7
407.0
304.6

142
-56
362
201
322
111
197
-349.1

434.9
481. 9r
530. 4r
540.2
449.8
338.7

Purchases
1946
1-947

1948
1949
1950
1951

1952
1953
1954
1955
1956
1957
1958
1959
1960
1961
1962
1963

1964
1965
1

966-January-July p.

755.9
658.7
211.6
321.2
589.2
500.4
495.3
542.5
792.4
693.3
606.5
699.0
889.0
945.6
882.9
801.9
1,093.3
990.5
914.8
1,193.1
1,025.4

Sales

Net
purchases

1,843.1
2,440.1

265.5
24.5
-79.8
9.8
-121.0
-300.6
-182.1
-79.0
-48.8
183.9
-385.0
-693.1
-1,026.1
-512.0
-562.1
-460.
-944.0
-1,095.4
-928.3
-1,242.1

1,725.4

-700.0

490.4
634.3
291.4
311.5
710.2
801.0
677.4
621.5
841.3
509.4
991.5
1,392.0
1,915.1
1,457.6
1,445.0
1,262.4

2,037.3
2,086.0

Purchases

Foreign Securities by Foreigners

-.4
14.6
-15.0
18.0

821.2
715.9
293.3

-24.4
-76.4
-35.8
6.8
-251.6
-214.3

763.0
772.7

585.2

491.6

93.7

1,610.6

40.2
43.8
53.8
52.3
50.5
70.8

24.1

15.1

136.5
118.0
364.3
168.2

13.0
12.6

193.1
177.3

65.1

7.4

81.7
88.8
173.8
272.3
293.9
310.1
393.3
663.6
749.2
592.8
467.2
566.1
509.1

72.2
47.7
289.2
100.9
124.5
93.9

144.9
96.7
4I8.9
216.5
213.0
134.4

-72.7
-49.0
-129.7
-115.7
-88.5
-40.5

64.3
70.2

1966-January
February
March
April
May
June p
July p

109.4
83.2
243.4
105.6
152.3

307.9
189.5
352.4
259. 8r
160.8
208.2
246.8

-198.5
-106.2
-109.1
-154.2r
-8.5
-10.1

72.6
70.9
100.4
37.7
94.4
91.2

-113.4

68.1

133.4

Total
purchases

595.7
702.0
695.6
748.4
906.2

57.1

1965-July
August
September
October
November
December

198.1

Sales

Net
purchases

65.6
42.6
96.7
70.8
198.2
348.7
329.6
303.4
644.9
877.9
875.2
621.9
803.7
803.8
591.7
965.6
805.9
644.3
548.2
616.6

65.2

75.1

67.3
63.5
83.4

-9.5
-42.8
-34.1

944.4

26.1

-115.8
62. 4r
-53. 2r
80.7
102.2
-266.1

Through 1949, Included with transactions in U.S. Government bonds and
r Revised.
»
Less than J50,000.
notes.
p Preliminary.

Foreign stocks

Foreign bonds

-89.1

-192.2
75.2

246.4
284.4
636.7

283.6
296.0
251.8
258.9
344.0
296.2
392.3

United States)
(In millions of dollars; negative figures indicate a net outflow of capital from the

Calendar year or month

-334.2

-584.3
314.9
-11.5
149.3
685.2
156.4
141.8
-2.7
1,124.4
378.4
735.7
-668.2
877.8
-510.5
-536.8

135.5
185.3
97.7

.3

Net
purchases

Net
purchases
of
domestic
securities

375.3
664.0
619.5
649.2
533.9
980.2
1,433.7
1,363.5
1,163.8
1,453.6
1,861.5
1,774.8
2,744.6
2,149.1
2,526.5
3,425.3
4,131.4

108.3
141.6
188.5
197.4

68.1

y

For exclusions see headnnte on page 86.
Through 1949, includes transactions in corporate bonds.

\J

2/

International
and
regional

74.5
7.5
87.0
117.9
-19.3
9.6
14.7
68.3
-32.7
70.0
-169.1
273.0
I64.9
224.5
532.2
-521.4
301.8
-315.2
-151.2

5.6
13.6
-4.2
2.4
-9.1
5.3
7.1

Stocks

Bonds i/

Net purchases

75.5
101.3
105.0
55.2
51.6
37.9

410.1

-336.4
-237.7
-82.6
-370.0
-103.9
51.2
200.3
289.5

789.1
852.7
1,185.8
1,356.9
1,355.7
1,291.8
1,356.2
1,511.7
1,392.0
1,397.6
1,795.3
1,686.1
1,663.2
2,104.2

-126.1
-29.1

26.4
21.3

Total
sales

.

.

Treasury Bulletin

90
CAPITAL MOVMENTS
Section II

Table

1.

-

Short-Term

-

Summary by

Countries

Banking Liabilities to Foreigners

1/

(Position at end of period in millions of dollars)
Calendar year
Country
1962

1963

Europe:

Austria
Belgium

.• •

329.1
177.4
67.0
73.2
1,156.6
2,729.9
118.9
1,383.8
248.2
124.7
160.6
177.2
490.5
907.5
25.2
1,608.6
10.5
351.7 2/
2.6
18.5 i/

• *

Oenjnark

Finland
France
Germany
Greece
Italy
Netherlands
Norway
Portugal
Spain
Sweden
Switzerland
Turkey
Uiiited Kingdom
Yugoslavia
Other Western Europe
U.S.S.R
Other Eastern Europe

10,161.7

Total Europe

3,348.9

Canada

Latin America;
Argentina
Brazil
Chile
Colombia
Cuba
Mexico
Panama
Peru
Uruguay
Venezuela
Other Latin American Republics...,
Bahamas and Bermuda
Netherlands Antilles and Surinam.
Other Latin America

209.6
204.1
135.3
148.3
14.7 4/
531.1

98.2
105.1
101.1
405.0
264.7 i/
122.8 6/

97.4
10.5 i/6/
2,448.0

Total Latin America
Asia;

35.7

China Mainland
Hong Kong
India
Indonesia
Israel
Japan
Korea
Philippines
Taiwan
Thailand
Other Asia

,

,

,

Total Asia
Africa;
Congo (Kinshasa)

Morocco
South Africa
United Arab Republic (Egypt)
Other Africa
Total Africa

Other countries:
Australia
All other
Total other countries

International and regional:
Internationals/.
European regional
Latin American regional
Total international and regionalB/.

Grand totals/

65.3
41.4
28.5
81.3
2,195.2
135.7
174.5
75.2
332.7
278.6

3,444.1
35.2
67.9 b/
41.5
13.9
160.5 7/

365.5
419.9
160.7
99.3
1,478.3
3,040.7
188.4
802.5
360.1
132.9
191.4
205.0
409.1
905.6
20.6
1,483.2
15.9
465.2
1.8
23.7
10,769.

2,987.7
375.5
179.2
143.4
169.3
10.9
668.8
128.7
158.2
113.5
590.7
354.7
135.9
93.3
15.4

1964 2/

1965

March

April

May

July p

8

September 1966

91
CAPITAL MOVMENTS

.

II - Summary by Countries
Short-Term Banking Claims on Foreigners

Section

Table

2.

-

(Position

at,

1/

end of period in millions of dollars)

Calendar year

1966

Country
196A 2/
Europe:

Austria
Belgium
Denmark
Finland
France
Germany
Greece
Italy
Netherlands
Norvay
Portugal

7.9
25.5
13.3
52.2
6^.5
121.2
9.1
96

^ain

25.5
30.1
70.0
^S.O
236.8
6.6
22.9

.

? 3

15

Total Europe

Canada

Latin America;
Argentina
Bra zil
Chile
Colombia
Cuba
Mexi CO
Panama
Peru
Uruguay
Venezuela
Other Latin American Republics
Bahamas and Bermuda
Netherlands Antilles and Surinam
Other Latin America
.

Total Latin America
Asia:
China Mainland
....

Total Asia
Africa;
Congo (Kinshasa)

Morocco
South Africa
United Arab Republic (Egypt)..,
Other Africa
Total Africa

Other countries;
Australia
All other
Total other countries

International and regional
Grand total

^

U.2

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

Hong Kong
India
Indonesia
Israel
Japan
Korea
Philippines
Taiwan
Thailand
Other Asia

.

^0.3

1965 1/

March

April

May

June p

July p

Treasury Bulletin

92

;

.

Section

Table

3.

CAPITAL MOVEMENTS
II

-

Summary by

,

Countries

Long-Term Banking Claims on Foreigners

-

(Position at end of period in millions of dollars)
1966

Calendar year

i°u

3963 1/ 2/

Europe
Austria

y

1965

:

101.2

Denmark
Finland
France
Gerroany

Greece
Italy
Netherlands
Norway
Portugal
Spain
Sweden
Switzerland
Turkey
United Kingdom
Yugos lavla
Other Western Europe
n.s.s.R
other Eastern Europe

135.6
16.4
160.3
5.0

237.8
75.5
48. b

45.2
16.1
.7

.8

.3

76.6

87.4

.9

1.9
19.9

3.3
19.9

8.9

19.3

Canada

13.3

1,719.6

5.5

l,603.8r

289.

272.6"

327.3

346.4

86.2
267.1
23.4
61.6

81.6
167.4
16.3
46.1

86.7
169.1
17.5
47.3

66.3
152.2
52.7
73.9

.6

American Republics..
Bermuda
Antilles and Surinam
America

Asia :
China Mainland
Hong Kong
India
Indonesia
Israel
Japan
Korea
Philippines
Taiwan
Thailand
Other Asia

Total Asia
Africa :
Congo (Kinshasa)
Moroc CO
South Africa
United Arab Republic (Egypt)....
Other Africa

Total Africa
Other countries
Australia
All other

.6

.6

.5

453.0
51.2
47.3

512.0
30.1
49.1
37.0
100.6

476.3
73.2
89.1
44.2
93.3
119.0
39.2
8.0

31."

36.9

5b. 6

99.6
91.0
35.8
33.8

64.2
43.7
4.9
1.7

99.2
37.2
33.8

1.3

5.0

2.0

1,161.9

1,275.3

1,295.6

l.b
28.3

2.0
30.9

2.6
34.5

28.2
248.5
3.2
100.8
1.6
3.7
31.3

24.8
384.7

28.6
429.9
3.7

27.8
444.7

138.0
3.4
7.6
31.4

1U.2
3.4
7.8
34.1

3.9
250.5
4.8
5.3
61.7

443.5 2/

622.8

684.5

335.8

14.0

14.3

6.6

.8

.1

.1

21.2

22.8

1,015.3

2,'

1 .5

24.6

3.1

15.5
.1

.5

.5

69.1

86.3

118.2

38.1
11.9
151.0

112.9

122.7

155.^

207

60.2
7.6

97.6
5.8

114.8
6.3

67.7

103.4

121.6

:

Total other coiintries

International and regional
total

17.4

1,687.7

2.0
36.0
4.4
10.5

:

Total Latin America

G:'and

77.3
95.1
43. 4r
67.2
58.4
205.2
84.0
342.1
7.3
221.9
90.2
72.4
93.4
37.5

134.9
86.5
56.8
66.1
66.3
159.5
50.3
382.7
15.2
274.8
82.4
73.1
109.1
37.3

37.9

1,100.7 2/

Total Europe

Latin America
Argentina
Brazil
Chile
Colombia
Cuba
Mexico
Panama
Peru
Uruguay
Venezuela
Other Latin
Bahamas and
Netnerlands
Other Latin

134.8
83.5
55.3
64.6
61.8
158.9
50.0
374.3
15.2
265.9
85.8
69.6
109.6
41.8

57.1
53.3
41."
33.7

Be Igiujn

.2

3,029.8

l,/2/

3,971.4 I'

.7

4,284.7

y

April

May

June p

.

.

September 1966

93
CAPITAL MOVEMENTS
Section

Table

4.

-

Net Transactions

II

in U.

-

Summary by

Countries-

S Government Bonds and Notes by Foreigners

1/

(In thousands of dollars; negative figures indicate net sales by foreigners or a net outflow of capital from the United States)

Calendar year
Country
1963

196^

Europe:

1,985

Austria
Belgium
Denmark
Finland
France
Germany
Greece
Italy
Netherlands
Norway
Portugal
Spain
Sweden
Switzerland
Turkey
United Kingdom
Yugoslavia
Other Western Europe.
U.

S.

S.

588

-2,681
-2.050
175
7Q
-16
5''3
50<;

38,965
-13

-U4

12

-89,365
3,377

-19
-8,762

85,914

2,168

3,700

R

-90

Total Europe

70,394
296, 901

Latin America:
Argentina
Brazil
Chile
Colombia
Cuba
Mexico
Panama
Peru
Uruguay
Venezuela
Other Latin American Republics .
Bahamas and Bermuda
Netherlands Antilles and Surinam.
Other Latin America

-141
64
}3
-41
13°

266
-335
-41
-329
-244
-227
735

,

Total Latin America
Asia:

China Mainland
Hong Kong
India
Indonesia
Israel
Japan
Korea
Philippines
Taiwan
Thailand
Other Asia

-988

-21

-76
1

,

694

Total Asia
Africa;
Congo (Kinshasa)
Morocco

South Africa
United Arab Republic (Egypt)
Other Africa

-='5

-83

1,023

Total Africa

880

Other countries:
Australia
All other

-19

Total other countries
International and regional:
International
European regional
Latin American regional
Total international and regional.
Grand total

1,570
226
6
-28
635
-32,920
-130

39,405

Other Eastern Europe.

Canada

-599
98

2

-17

330, 57^

-28,783

301,791
670,915

Treasury Bulletin

94

.

CAPITAL MOVaffiNTS

,

Section II - Summary by Countries
Table 5. - Net Transactions in Long-Term Domestic Bonds,
Other Than U. S. Government Bonds and Notes, by Foreigners
{In thousands of dollars; negative figures indicate net sales by foreigners or a net outflow of capital from the United States)

1966

Calendar year
Country
1963

196i

1965

1966
through

July p
Europe;

Austria
Belgium
Denmark
Finland
France
Germany
Greece
Italy
Netherlands
Norway
Portugal
Spain
Sweden
Switzerland
Turkey
United Kingdom
Yugoslavia
Other Western Europe
U.S.S.R
Other Eastern Europe
Total Europe
Canada

Latin America:
Argentina
Brazil
Chile
Colombia
Cuba
Mexico
Panama
Peru
Uruguay
Venezuela
Other Latin American Republics ..
Bahamas and Bermuda
Netherlands Antilles and Surinam.
Other Latin America •
Total Latin America

-1,793
-4.09

-3

585

2,654
-19
-927
-1,545
li,80i
-110
-334
-1,128
11,258
-6
9,507
732

33,345

-51,84«
217
687
-70
81
19
1

1,284
20

-148
179
93 1/

1,786
1,153 1/
5

,

302

Asia;
China Mainland

Hong Kong

233

India
Indonesia
Israel

17

Japan
Korea
Philippines
Taiwan
Thailand
Other Asia

104

-18
904
4,905

Total Asia
Africa;
Congo (Kinshasa)
Morocco
South Africa
United Arab Republic (Egypt)
Other Africa

Total Africa

Other countries;
Australia
All other.
Total other countries

International and regional;
International
European regional
Latin American regional
Total international and regional.

Grand total

-19
-2

n/

February

April

May

June p

July p

,

.

.

September 1966

95

CAPITAL MDVBylENTS

Section II

Table

6.

-

Summary by

Net Transactions

in

Countries

Domestic Stocks by Foreigners

(In thousands of dollars; negative figures indicate net sales by foreigners or a net outflow of capital from the United States)

1966

Calendar year

Country
1963

i%i

,963

i,120
-11,580
1,025

T

1965

Europe:

Austria
Belgium
Denmark
Finland
France
Germany
Greece
Italy
Netherlands
Norway
Portugal

-36,816
-2,811
-396
6,984
17,050

-2,4U

-1 ,632

6,127

539

-US

8,164
-2,621

-267
-25,393
i59
196,896

-2,119
-213,879
-10,684
-176,832
2,170
-2,152

-4,034
-114,286
-377
-398,139
-447
-7,444

-6i1
-891

Spain.
Sweden

Switzerland
Turkey
United Kingdom
Yugoslavia
Other Western Europe.
D.S.S.R
Other Eastern Europe.

362

-1,30i

60

-41

660 1/
166,037

Total Europe

Canada

Latin America:
Argentina
Brazil
Chile
Colombia
Cuba
Mexico
Panama
Peru
Uruguay
Venezuela
Other Latin
Bahamas and
Netherlands
Other Latin

-9,006
-3,370
-327
5, OCA
3,075
-1,i12
15,595

-3 070
-13,302
-190
157
-2,748
10,348
-923
-6,947
-11,458

1

-10,960

-421 ,890

5,132

35,074

2,461
3, on?
2 ^49
1 ,097

2,050
1,745
1,900
1,530

,

-136
-777
-1,300
897
347
-1 ,055

American Republics...
Bermuda
Antilles and Surinam
America. ,

-140

1,160 2/
2/
2,369
-1,680 2/

-1

8,760
-2,796
552
-2. 614

4,910
1,138
2,703
7,056
-127

3,639

26,306

Hong Kong
India
Indonesia
Israel
Japan
Korea
Philippines
Taiwan
Thailand
Other Asia

-118
3,227
114
-39
472
615
-45
396
-8
69
6,282

-113
302
-240

670
416
62
-99
-240
-170
4,032

Total Asia

10,915

5,122

Total Latin America
Asia:
China Mainland

Africa:
Congo (Kinshasa;
Morocco.
South Africa
United Arab Republic (Egypt).
Other Africa

2

34

26

2/
64
768

-199

_2/_

171

423
-199

Total Africa

Other countries:
Australia
All other.
Total other countries.

International and regional:
International
European regional
Latin American regional .

223
-107 2/

-627
130

982 2/

-497

5,959
-115

6,073
-14

.

Total international and
regional
Grand total

5,344

6,059

1=57,54°

-349,104

,

1966
through
July p

February

April

^fay

June p

July p

Treasury Bulletin

96
.

Section

Table

7.

-

CAPITAL MOVHiffiNTS

II

Net Transactions

-

Summary by

in

(In thousands of dollars; negative figures indicate net

Long-Term

,

Countries
Foreign Bonds by Foreigners

,

September 1966

97
,

Section

Table

8.

CAPITAL MOVEMENTS
II

-

,

Summary by Countries

Net Transactions

in

Foreign Stocks by Foreigners

(In thousands of dollars; negative figures indicate net sales by foreigners or a net outflow of canital f"'>m the United States)

Calendar year
Country
19 c 3

r-t:5

19oD
19oo
through
.!uly p

Europe;

Austria
Belgium
Denmark
Finland
France
Germany
Greece
Italy
Netherlands
Norway
Portugal
Spain
Sweden
Switzerland
Turkey
United Kingdom
Yugoslavia
Other Western Europe
U.S.S.R
Other Eastern Europe...
Total Europe

Canada

Latin America;
Argentina
Brazil
Chile
Colombia
Cuba
Mexico
Panama
Peru
Uruguay
Venezuela
Other Latin American Republics,,
Bahamas and Bermuda
Netherlands Antilles and Surinam
Other Latin America,
Total Latin America

108

-251
-23,-COi

6,881
-202
^,60A
-A, 340
487
40
-1,918
405
-10,316
-86
25,012
-1

123

S3'?l
i3^,:!4i

43
492
244

-1,857
-62
187
-326
88
113 2/

2/
722
555 g/
203

Asia;
China Mainland

Hong Kong
India
Indonesia
Israel
Japan
Korea
Philippines
Taiwan
Thailand
Other Asia

-4,030
-68,958
202
-367
-210
-27
-512

Total Asia

-74,893

Africa:
Congo (Kinshasa)

Morocco
South Africa
United Arab Republic (Egypt).,..
Other Africa
Total Africa

Other countries;
Australia
All other
Total other countries

International and regional:
International
European regional
Latin American regional
Total international and regional

Grand total

504

-1,510
15

17

2/
1,217
124
1/

February

March

April

May

June p

Treasury Bulletin

98
CAPITAL MOVMENTS
Section

II

-

Summary by

Table 9.- Estimated Holdings of U.

S.

Countries

Government Bonds and Notes

(Position at end of period in millions of dollars)

,

99

September 1966
CAPITAL MOVIMENTS
Section III

Table

1. -

Short-Term

-

Preliminary Details by Countries
to Foreigners as of July

Banking Liabilities

31,

1966

1/

(Position in thousands of dollars)

Short-term liabilities payable in dollars
Total
shortterm
li a bilities

Country

Europe
Austria
Belgium
Denmark
Finland
France
Germany
Greece
Italy
Netherlands
Norway
Portugal
Spain
Sweden
Switzerland
Turkey
United Kingdom
Yugoslavia
Other Western Europe
U.S.S.R
Other Eastern Europe

To foreign banks and official institutions
U.

Deposits 2/

S.

U. S.

Treasury
bills and
certificates

:

205 ,120

,

13,347,539

11,956,786

5,188,063

4,635,711

2,291,091

2,008,407

472,652
309,244
197,960
188,882
9,483
575,386
144,252
230,480
180,337
735,632
540,715
164,139
116,935
19,058

212,298
223,363
67,062
62,365
1,035
276,528
18,666
86,089
57,533
306,950
296,621
72,442
40,447
4,418

100,932
139,858
65,295
61,790
1,007
177,155
15,878
85,931
56,049
301,756
210,290
59,874
25,394
4,322

69,338

3,885,155

1,725,817

1,305,531

1:^5,-' 40

35 ,511
117 ,996
124 ,525
43 ,838

29,959

595 ,815
,658

30,025
55,925
110,035
41,043
111,514
2,798,865
117,306
263,028
221,653
590,863
804,236

48,206
35,381
30,284
64,712
1,579,213
115,221
246,620
169,562
193,943
507,853

2,100
388,843
107,624

5,444,447

5,144,493

3,020,954

1,136,497

10,231
25,268
63,466
25,360
204,833

8,010
21,852
53,457
24,537
171,558

7,506
21,721
50,183
16,169
119,878

3,000
6,000
40,161

329,158

279,414

215,457

49

241,321
28,166

223,864
22,890

94,919
15,714

269,487

246,754

110,633

5,080,576
11,826
98,114

5,080,464
11,826
98,075

257,386
9,974
16,947

70 ,352
1,167 ,711
2,025 073
130 ,643
1,724 748
343 ,746
346 ,694
306 ,354
138 488
661 ,711
1,695 ,811
18 ,123
3,359 ,653

.,

.,

19 ,716

396 ,813
4 ,426

Total Europe
Canada

Latin America
Argentina
Brazil
Chile
Colombia
Cuba
Mexico
Panama
Peru
Uruguay
Venezuela
Other Latin
Bahamas and
Netherlands
Other Latin

50,924
170,003
78,964
37,616
346,255
263,738
42,643
370,079
126,833
97,503
207,605
73,465
127,343
344,319
14,190
2,723,640
11,057
72,932
4,019
24,935

65,200
115,908
109,010
7,900
560,252
1,322,410
9,500
1,262,070
164,816
46,828

31 ,380

201,656
369,935
285,670
67,035
1,089,362
1,754,314
93,758
1,689,606
319,901
311,370
212,922
86,727
648,286
1,405,834
14,310
3,067,621
18,402
286,494
4,233
29,350

405 ,734
295 ,243

1,481,70

11,000
463,500
169,334

207,511
4,750
115,660
62

517,904

;

,

,

,

,

,

American Republics..,.
Bermuda
Antilles and Suriam...
America

Total Latin America
Asia
China Mainland
Hong Kong
India
Indonesia
Israel
Japan
Korea
Philippines
Taiwan
Thailand
Other Asia

5,075

26,500

25,200
789

9,038

:

118 ,955
2,832 ,179
119 ,976

324 574
241 ,420

Total Asia
Africa
Congo (Kinshasa)
Morocco
South Africa
United Arab Republic (Egypt)
Other Africa

58,800
10,700
14,600
553,830

:

Total Africa
Other countries
Australia
All other

:

Total other countries
International and regional

:

International^ ..7
European regional
Latin American regional

Total international and regional..
Grand total

^

5,190,516

5,190,365

30,757,393

26,552,036

284,307

11,606,654 2/

To ell other foreigners

Other

Total

Treasury
Deposits 2/ bills and
certif-

icates

Short-term
liabilities
payable
in

foreign
currencies

,

.

Treasury Bulletin

100
CAPITAL MOVEMENTS.

Section

Table

2.

III

-

Preliminary Details by Countries

Short-Term Banking Claims on Foreigners

-

as of July 31, 1966 i/

(Position in thousands of dollars)

Short-term claims payable in dollars
Loans to:

Country-

Europ e;
Austria
Belgium
Denmark
Finland
France
Germany
Greece
. .
Italy
Netherlands
Norway
Portugal
Spain
Sweden
Switzerland
Turkey
United Kingdom
Yugoslavia
Other Western Europe.

U.S.S.R
Other Eastern Europe,
Total Europe

Canada
La tin America;
Argentina
Brazil
Chile
Colombia
Cuba
Mexico
Panama
Peru
Uruguay
Venezuela
Other Latin American Republics,
Bahamas and Bermuda
Netherlands Antilles and
Surinam
Other Latin America
Total Latin America.
Asia;
China Mainland
Hong Kong
India
Indonesia
Israel
Japan

Total
short-

term
claims

12,623
5i,319
5^,377
92,871
VINOS'?

209,167
13,276
100,395
51,856
50,A18
37,251
68,09^;

65,061
78,423
'^9,949

198,356
20,216
3A,966
2,755
25,421
1,290,381

655,963

192,226
105,567
163,313
254,164
16,387
728,826
65,749
176,589
56,578
179,704
218,037
54,702
16,610
15,787

2,244,239
744
31,755
26,470
1

,

540

Korea
Philippines.
Taiwan
Thailand
Other Asia,

88,296
,584,703
18,655
173,259
16,137
67,337
113,4^1

Total Asia,.

3,] 27,387

Africa;
Congo (Kinshasa)
Morocco
,,
South Africa
United Arab Republic (Egypt)
Other Africa
Total Africa..

Other countries;
Australia
All other
Total other countries,.,.

International and regional;
International
European regional
Latin American regional..
Total international and
regional

Grand total

452
2,149
37,999
44,472
43,317
128

Total

Foreign
banks and
official
institutions

Collections
outstanding
for own
account and
domestic
customers

Acceptances
made for
account
of

foreigners

Short-term claims payable in foreign currencies

Total

Deposits of
reporting
banks and
domestic
customers
with
foreigners

Foreign
government
obligations
and commercial and
finance
paper

September 1966

Treasury Bulletin

102
CAPITAL MOVEMENTS

Table

4.

-

,

Section III - Preliminary Details by Countries
Purchases and Sales of Long-Term Securities by Foreigners During July 1966

i/

*

,

September i966

103
CAPITAL MOVEMENTS
Section IV

Table

1.

-

Short-Term

Supplementary Data by Countries
Reported by Nonbanking Concerns

-

Liabilities to Foreigners

(roiiition at end of period in thousands of doJ Lars

lo6i

19o5

Country
June

September

1/

Europe:

Austria
Belgium
Denmark
Finland
France
Germany
Greece
Italy
Netherlands
Norway
Portugal
Spain
Sweden
Switzerland
Turkey
United Kingdom
Yugoslavia
Other Western Europe
U. S. S. R
Other Eastern Europe
Total Europe

Canada

Latin America :
Argentina
Brazil
Chile
Colombia
Cuba
Mexico
Panama
Peru.

.

1
1

,322
,082

901

2,629
20,207
936
872
26,788
34,452
4,506
22,362
46,052
2,132
1,020
8,4.28

6,764
18,325
4,435
97,311

2,633
22,066
1,032
680
30,718
44,390
3,977
27,118
30,592
2,044
1,585
12,452
7,044
35,951
5,456
108,452
637
3,510

981

751

2,651

537

2,205
60
387

318,910

315,709

300,672

341,209

67,588

61 ,938

56,697

59,962

6,105
13,487
3,355

5,545
11,357
3,309
8,256
204
8,058
20,903
6,243
905
21,704
8,918
2,472

3,900
10,965
3,598
6,669
137
8,105
26,034
4,708
660
19,722
10,508
2,461
9,289

6,395

5,079
10,075
2,961
7,480
168
6,778
20,552
5,298
796
20,789
7,990
2,451
7,181
6,123

117,645

111,520

103,721

110,856

1,768
2,377
14,036
3,179
2,341
23,412
669
4,826
722
805

1,769
2,352
14,080
5,388
1,053
26,714

1,588
1,810
13,273
5,083
898
24,596

1,297
1,335
15,528
2,946
1,078
31,169
389

5,281

Total Latin America

1,041

28,165
36,414
4,566
24,480
46,399
2,951
1,070
9,007
7,187
19,034
4,684
101,662

29,027

American Republics...
Bermuda
Antilles and Surinam.
America

2,808
20,883
1,078

31,33i
32,167
2,i16
26,353
43,^85
2,120
1,032
6,389
6,934
19,935
4,342
110,036
6,051
898
182

5,81c
200
10,515

.

Uruguay
Venezuala
Other Latin
Bahamas and
Netherlands
Other Latin

2,292
19,139

1,484
20,112
9,569
1,968
6,057
4,669

61

7,251

39

783

4, ion

Asia:

China Mainland

Hong Kong
India
Indonesia
Israel
Japan
Korea

Philippines
Taiwan
Thailand
Other Asia
Total Asia
Africa:
Congo (Kinshasa)

582

505

21 ,909

5,462
809
712
21,218

4,463
764
695
19,475

20,557

76,044

30,139

73,150

81,979
3 086
1,306
11,009
1,489
5,099

1,046
304

560
281

8,954
4,053
6,255

10,478
2,070
5,710

548
259
10,007
1,896
5,410

Total Africa

20,612

19,099

18,120

Other countries:
Australia
All other

25,442
4,467

27,348
5,872

29,909

33,220

124

634

80

32

Morocco
South Africa
United Arab Republic (Egypt)....
Other Africa

Total other countries

international and regional:
International
European regional
Latin American regional
Total international and regional

Grand total

204

630,912

666

622,291

J

6,212
367
601

,

December 2/

Treasury Bulletin

104
CAPITAL MOVEMENTS

Table

2.

-

Section IV - Supplementary Data by Countries
Short-Term Claims on Foreigners Reported by Nonbanking Concerns

e

.

s

September 1966

105
CAPITAL MOVatENTS
Section IV

Table

3.

-

Short-Term

-

Supplementary Data by Countries

Liabilities to and Claims on

Foreigners Reported by Nonbanking Concerns
31, 1966 p

March

Details as of

(Position in thousands of dollars)

Liabilities

Country

Payable in foreign
currencies

Payable

Pqyabl

Payable

in

Total

foreign
currencies

dollars

Europe
Austria
Belgium
Denmark
Finland
France
Germany
Greece

Claims

;

2,065
26,696
746
630

U,937
59,919
2,998
22,710
54,116
2,153
6,647
20,853
11,724
45,369
4,184

Italy
Netherlands
Norway
Portugal
Spain
Sweden
Switzerland
Turkey

United Kingdom
Yugoslavia
Other Western Europe.
U.S.S.R
Other Eastern Europe.

ia,275

Total Europe

452,993

1,U8
3,867
127
7^9

i,;'97

769
3,974

673
525

73
155
8,062
10,527

36,875
49,392
2,232
11,843
32,22=
1,915
5,899
19,738
11,524
35,386
4,034
110,689
607
2,992
127
7.-A

1,j0,040

Canada

Latin America;
Argentina
Brazil
Chile
Colombia
Cuba

11,411
2,165
7,159
1.350

4,167
9,017
4,234
6,944
121
3,009
9,275
5,825
1,382
6,056
7,780
2,003
7,071
1,059

105,390

72,993

1,301
1,923
24,524
11,544
1,004
26,842
851
6,747
4,520
1,453
31,555

1,301
1,545
22,858
11,533
845
22,717
782
4,909
4,458
1,106
22,472

112,264

94,526

854
451
10,941
1,228
8,932

397
349
10,377
867
7,199

Total Africa

:.:,40u

19,139

Other countries:
Australia
All other

31,352
3.501

16,475
2,130

34,853

lc,605

38
25

38
25

5,827
11,372
4,900
8,113
148
8,803
9,468
6,532
1,628

Mexico.^

Panama
Peru
Uruguay
Venezuela
Other Latin
Bahamas and
Netherlands
Other Latin

26,

American Republics...
Bermuda
Antilles and Surinam.
America

Total Latin America

Asia
China Mainland
Hong Kong
India
Indonesia
Israel
Japan
Korea
Philippines
Taiwan
Thailand
Other Asia

5U

;

Total Asia
Africa;
Congo (Kinshasa)
Morocco
South Africa
United Arab Republic (Egypt).
Other Africa

Total other countries.

International and regional
International
European regional
Latin American regional

;

Total international and regional

Grand total

Note;

o3

63

848,009

ol5,318

This table presents the detailed breakdown of the latest data that
Data are reported by
are shown in Tables 1 and 2 of this section.
exporters, importers, industrial and commercial firms, and other

766
10,862
21,888
238
748
1,115
200
9,983
150

30,586
541
875

in

dollars

Deposits with
banks abroad
in reporter'
oim name

106

September 1966

107
,

Table

5.

-

CAPITAL MOVatENTS

,

Section IV - Supplementary Data by Countries
Long-Term Claims on Foreigners Reported by Nonbanking Concerns
(Position at end of period

thousands of dollars)

'.t

196i

1965

Country

Europe:
Austria

Belgium
Denmark
Finland
France
Germany
Greece
Italy
Netherlands
Norway
Portugal
Spain
Sweden
Switzerland
Turkey
United Kingdom
Yugoslavia
Other Western Europe
U.S.S.R
Other Eastern Europe
Total Europe

99
2,002

2,005
6,955

1,8i1

1,748

23,543

31,517
2,552
14,748
9,833
304
2,154
269
7,224
69
13,307
6,402
64,015
1,576
789

1,475
13,436
1,659
24,133
20,353
342
2,161
1,134
9,965
330
11,774
6,661
51,445
650
770

2,51/,

11,366
12,05-i

300

2,157

U3
5,365
86
13,372
6, ''75

,

,

Canada

68,339
1,212
760

,

June

1,315
2,005
6,955
1,475
15,153
4,856
27,536
20,562
342

1,390
2,005
7,059
1,913
16,855
6,678
29,607
19,501
4
2,242
1,286

2,161

1,134
12,058
330
11,774
6,662
56,257
650
3?4

December 1/

September

1,392
2,009
7,861
2,211
12,775

6,679
29,337
23,633
57
2,247

12,843,

1,332
18,891

802
11,686
5,969
35,301
445
399

37
6,651
31,015
390
1,515

437

1,310
2,007
3,217
1,593
14,205
6,191

29,630
22,025
111

2,247
3,091

19,279
784
1,317
6,492
31 ,462

334
1,434

1,312
3,165
3,362
1,716
10,824
7,116
30,433
19,443
63
2,243
4,349
16,643
1,094
1,369
6,001
30,596
740
2,132

1,312

3,165
3,362
1,716
10,824
7,116
30,438
19,448
68
2,243
4,404
16,643
1,094
1,369
6,001
30,596
740
2,182

10

10

167

283

197

197

133

163

260

170

170

160,052

165,981

160,495

172,246

156,673

143,732

147,039

142,836

142,891

074

90,203

94,532

139,970

202,637

208,364

229,924

233,469

235,962

72,770
66,868
10,030
6,633
6,748
78,489
4,498
9,929

58,933
68,033
10,740
5,208
6,643
73,754
6,544
14,341

48,038
214,579

48,708
214.345
11,740
9,691
6,526
73,352
4,246
12,930

42,132

1,551

6,374
24,133
3,238
1,478
1,367

10,584
13,048
6,526
70,136
4,789
14,429
1,353
11,532
27,026
8,609
1,502
2.234

36,205
216,647
11.293
13,800
6,526
7i,128
4,697
13,914
1.370
12,315
27,677
7,913
1,457
1.268

31,333
209,412
11,620
19,746
6,526
63,737
6,140
14,635
1,526
12,314
28,930
3,518

81,703
209,412
11,552
20,096
6,526
64,815
6,140

1,348
7,799
14,705
8,193

44,154
219,611
10,798
10,341
6.526
73,804
4,670
13,653
1,325
7,362
25,987
8,488
1,477
1,888

425,090

430,084

434,957

429,210

473,977

5,471

11,399
8,486
16,200
98,340
717
50,390
3,345

64.,

Latin America;
Argentina
Brazil
Chile
Colombia
Cuba
Mexico
Panama
Peru
Uruguay
Venezuela
Other Latin American Republics ..
Bahamas and Bermuda
Netherlands Antilles and Surinam.
Other Latin America
Total Latin Amerioa_

2,004
7,177

7,U7

,

December 1/

September

June

11,601
9,443

6,526
71 ,938

914

8,04A
13,597
7,935
1,359
1,748

4,246
12,930
1,462
6,374
23,065
8,159
1,473
1,357

289,973

283,985

421,196

1

,049

1

,462

221 ,057

1

,468

2,452

14,731

1,454
13,860
28,735
8,518
1,463
3.110
472,120

Asia;

China Mainland
Hong Kong
India
Indonesia
Israel
Japan
Korea
Philippines
Taiwan
Thailand
Other Asia
Total Asia
Africa;
Congo (Kinshasa)
Morocco

37
5,065
10,112
18,091

39

33

33

33

5,041

3,574
10,948
15,388
89,181

47,104
8,729
933
10,952

4,839
8,444
14,115
81,216
238
46,243
9,198
237

5,035
8,463
14,166
85,019
307
46,473
8,370

11 ,923

10,400
16,030
89,930
190
46,123
5,746
1,620
10,279

3,574
10,749
15,388
89,181
292
45,376
8,729
938
9,798

12,671

12,777

8,496
14,335
88,759
245
47,248
7,238
139
12,172

193,194

135,498

184,558

187,139

177,334

180,792

184,653

120

120
4
1,962

81

31

1,973

4,726
84,137

93,954
155

47,418
5,414
1,025

292

132

73
13.271

11,399
3,486
16,200
93,340
717
23,046
3,345
197
18,271

212,221

185,001

1.963
4,991
34,285

4,467
34.084

4,467
80,591

4

4

4,723
85,165

4,309
4,397
84,154

1,962
3,807
81,741

3,807
35,492

30
4
1,962
4,540
84,524

Total Africa

94,214

92,864

87,634

91,335

91,110

90,967

91.320

33,673

Other countries;
Australia
All other

12,726
1,013

12,359
1,045

12,465

13,714
1,051

15,742
1,807

16,375
976

17.523

,051

971

16,436
1.000

16,886
1,000

13,739

13,404

13,516

14,765

17,549

17,351

18,494

17,436

17,386

815,246

831 ,940

V 1,075,337

1,081,163

1,100,640

South Africa
United Arab Republic (Egypt)
Other Africa

Total other countries

1

4
4,321

1

International and regional

Grand total

961,931 1/ 1,030,595

Note:
Data are reported by exporters, importers, industrial and commercial
firms, and other nonbanking concerns in the United States. Data
exclude claims held through United States Banks and intercompany
accounts between firms in the United States and their affiliates abroad.

1/

p

1,168,6121/

1,139, 040 J/ 1,156,174

Data in the two columns shown for this date differ because of changes
Figures in the first column are comparable in
in reporting coverage.
coverage to those shown for the preceding date; figures in the second
to
those shown for the following date.
comparable
column are
Preliminary.

m

Ireasury Ballet

108
.

Table

6.

-

CAPITAL MO'/EMENTS

,

Section IV - Supplementary Data by Countries
Foreign Credit and Debit Balances in Brokerage Accounts
(position at end of period in tt^ousarids of dollal's

,

.

109

September 1966
CAPITAL MOVaiENTS
- Supplementary
Data by Countries
Banking Liabilities to Foreigners in Countries and Areas
Not Regularly Reported Separately

Section IV

Table

7.

-

Short-Term

(Position at end of period in thousands of dollars)

December
April
1965

Country
196i'

"Other Western Eiurope "
Cyprus
Gibraltar
Iceland
Ireland, Republic of
Luxembourg
Malta
Monaco
"Other Eastern Europe"
Albania
Bulgaria
Czechoslovakia 1/
Estonia
Hungary
Latvia
Lithuania
Poland 1/
Rumania 1/
Soviet Zone of Germany
"Other Latin American Republics "
Bolivia 1/
Costa Rica
Dominican Republic 1/
Ecuador
Guatemala 1/
Haiti
Honduras
Jamaica
Nicaragua
Paraguay
El Salvador 1/
Trinidad and Tobago
"Other Latin America "
British Honduras
British West Indies
French West Indies and French Guiana.
"Other Asia"
Aden and South Arabia
Afghanistan
Bahrain
Burma
Cambodia
Ceylon
Iran 1/
Iraq
Jordan
Kuwait
Laos
Lebanon
Malaysia
Nepal
Pakistan
Ryukyu Islands (including Okinawa)...
Saudi Arabia
Singapore
Syria
Trucial States
Viet Nam

^

^

657
1,242
3,148
3,240
16,111
31
3,411

178

617
728
5,632

2,906
10,830
216
1,729

1963

1964

722
1,657
6,974
10,696
7,361
676
2,687

574
906
5,173
8,697
17,384
514

243
1,419

4,110

7,205
1,507
1,268

275
1,558
1,140
1,524
1,115
421
368
8,899
1,650
1,557

781
1,453
1,838
356
411
13,522
1,379
2,236

180
662
1,027
1,576
1,495
432
328
9,735
1,922
1,321

26,173
13,284
22,835
23,595
45,773
9,865
14,769
1,840
17,345
4,874
21,936
2/

23,182
16,498
42,028
36,233
40,865
10,487
13,776
3,255
14,838
5,667
22,472
3,077

32,567
29,127
58,037
53,449
47,862
12,940
20,031
5,564
34,963
8,892
41,690
2,286

43,186
31,495
55,815
67,060
48,702
14,348
26,044
6,994
42,393
11, 377
56,023
7,367

251
9,043
1,044

507

11,665
1,310

1,170
851
1,638
1,029
504
318

240
14,042 2/
533

2,435
3,616
574

4,501
15,297
6,470
31,349
20,190
1,608
27,124
4,636
52,283
7,557
981
10,065
14,599
24,871

2,757
5,288
1,415
2,468
12,606
4,858
18,742

8,489
1,161
33,033
14,007
65,873
18, 368
1,106
15,850
17,030
28, 384

3,563
4,995
1,397
9,865
6,931
3,101
23,505
19,849
2,792
46, 539

8,818
76,320
24,104
2,059
17,341
21,722
61,710

759
1,509
7,149
6,321
20,052
489
3,588

802
2,195
5,808
6,213
21,119
773
3,653

409
669
1,264
1,505
1,392

403
2,498
1,982
1,418
1,652

312
271
11,525
2,312

386
356

1,316

589

1,078
1,845
n.a.
1,241
286
317
12,663
5,746
n.a.

1,639
7,983
1,104

2,368
16,047
1,387

2,404
11,491
2,157

1,698
8,921
1,534

4,029

4,468
6,348
2,546
35,893
1,694
2,723
61,972
65,419
7,917
51,972
4,951
113,223
36,295
6,222
24,799
32,678
288,036

4,400
5,636
4,122
49,092
2,682
2,401
66,930
11,954
15,991
35,523
3,234
99,715
25,947
6,792
19,417
23,999
283,601
8,940
4,030
1,776
39,035

n.a.
7,962
3,792
n.a
n.a.
3,290
79,244
n.a.
16,012
24,635
5,653
92,015
31,233
n.a.
20,961
39,458
290,985
4,897
4,752
2,768
123,768

7,633
880
44,123
1,557
2,621
634
3,242
1,461
17, 887
34,806
913
1,583
21,730
4,378
835
3,287
3,708
1,757
7,234

13,563
1,169
58,924
1,259
2,864
395
2,675
1,410
19,694
26,665
691
1,692
n.a.
7,652
894
3,533
3,293
959
n.a.

1,628
18,681

n.a.
27,113

5,491

2,046
32,508
1,491
2,410
23,422
21,601
2,715
56,363
4,978
84,194
22,167
1,954
23,056
25,566
197,229

1/

2/

1/

2/

2,111

7,583
2,790
19,043

3,179
762
19,708

1,529
799
33,736
1,583
5,589
395
1,367
2,574
20,011
28,921
638
2,505
15,726
4,432

2,090
733
45,200

n.a.

568
1,413
3,969
6,649
28,175
1,613
3,976

47,256
65,220
71,567
15,437
32,991
7,820
67,419
12,075
71,653
8,622

4,894
n.a.
10,057

12,127

1966

64,414
32,850
54,276
62,339
86,863
16,688
43,162
11,461
74,973
15,004
78,290
6,275

2,558
n.a.

12,749
6,836
1,700

April

67,375
34,165
72,288
69,600
68,128
16,335
31,407
8,563
67,009
13,795
66,998
3,577

53,054
28, 567

2/
7,906

December
1^65

"Other Africa"

Algeria
Canary Islands
Ethiopia (including Eritrea)
French Somaliland
Ghana
Guinea
Ivory Coast
Kenya
Liberia
Libya
Malagasy Republic
Mozambique
Nigeria
"Portuguese West Africa"
Somali Republic
Southern Rhodesia ^/
Sudan
Tunisia
Zambia

^

"Other countries "
New Caledonia
New Zealand

504
428
11,061
776
1,063
1,258
389
n.a.
21,864
5,421
326
1,550
21,772
419
1,662

1,607
779
17,045
758
4,068
540
1,360
n.a.
17,619
5,496
639
2,510

26,7%
656
571

6,469
1,990
1,216
1/

6,774
2,432
10,881
i/

1,407
3,967

4,685

32

Note;
Through 1962, except as noted, data are based on reports from banks in
the Second (New York) Federal Reserve District only, and include funds
held in an account with the U.S. Treasury; subsequent data are as reported
by banks in all Federal Reserve Districts. They represent a partial
breakdown of the amounts shown for the corresponding dates for the "Other"
catecrnripfl in thp rpOTiTar mnnthlv cjpt-ipq in t.hp "TTpasurv Bulletin."

903
713
22,275
1,740
6,433
853
936
2,109
22,009
14,084

A/

4/

889
5,127
455
1,919
1,872
17,b22
26,759
1,054
1,608
20,283
4,629
820
2,550
2,219
988
857

1,362
10,475

1,691
11,956

1,740
19,706

561

1,361
17,811
2,450
840
4,374
2,492
975

508
3,367
2,232
949

Reported by banks in all Federal Reserve Districts.
Data for Trinidad and Tobago included with British West Indies,
Through April 1965, Singapore included with Malaysia.
Through December 1964, data for Malawi (formerly Nyasaland) and
Zambia (formerly Northern Rhodesia) included with Southern Rhodesia
n.a Not available.
1/
2/
2/

^

.

Treasury Bulletin

110
.

Table

8.

-

CAPITAL MOVEMENTS

Section IV - Supplementary Data by Countries
Purchases and Sales of Long-Term Securities by Foreigners During Calendar Year 1965
(In thousands of dollars)

Sales by foreigners

PxjTchases by foreigners

Foreign securities

Domestic securities
Country
U. S.
Total
purchases Government
bonds and
notes

Corporate and
other
Bonds

Stocks

Bonds

Domestic securities
Total
sales

Stocks

Europe;
15 ,078
121 ,160
22 ,733

Austria
Belgium
Denmark
Finland
France
Germany
Greece

990
298 ,603
225 ,586

5

421

137

9 P92

3,494

770

,416

22,988
45,290
20
5,911
12,071
27,966
736
1,991
22,224
96,810

11,571
54,524
2,189
258
221,182
88,902
2,493
56, 194
136,332
5,270
19,847
21,729
7,645
1,232,589
639
546,827

3,001
32,360
15,925
725
35,399
54,450
34
33,301
25,918
24,043
673
8,848
20,457
176,008

3

500

%143

36,431

10,132

7
1

80

24,147
355

17,618
36,573
22
3,448
119,830
337
441
3,515
5,846
59,363
217
51 802
131
1,227

2 ,571

p

Italy
Netherlands
Norway
Portugal
Spain
Sweden
Switzerland
Turkey
United Kingdom
Yugoslavia
Other Western Europe.
U. S. S. R
Other Eastern Europe.

99 ,696
296 ,413
95 ,685
21 7U
36 456
79 338
1,581 ,223
928
1,371 ,505
634
51 ,806

842
2,262
38,069

,209

494

363

279

73

Total Europe.

4,323,353

608,870

415,681

2,444,988

528,794

325,025

2,011,930

333,267

M2,399

666,597

279 607

530,060

27,782
15,475
10,322

147

18,909

730
840
2,406
421
15
7,170
1,836
1,058
1,473
1,424

Canada

Latin America:
Argentina
Brazil
Chile
Colombia
Cuba
Mexico
Panama
Peru
Uruguay
Venezuela
Other Latin
Bahamas and
Netherlands
Other Latin

1

47
373

23,166
16,453
17
520,849
873

69
623
213

12, <25

American Republics...
Bermuda
Antilles and Surinam.
America

Total Latin America,,,.
Asia:
China Mainland

420
73,842
56,338
9,959
27,448
55,675
10,561
83,474
85,122
2,967

38

165,303

317
200
16
lie
190
324

27
1,961
3,668
134
'29

9,546

7,108
3,092
1,676
2,118

378
35,511
45,820
7,337
19,431
38,626
6,777
36,808
70,226
1,864

28,883
4,814
914
5,899
14,321
1,598
26,928
4,297
955
102,603

,420
5,615

5

471,710

8,771

23,000

308,768

36

10
70
10,014

2,525
116

22

Hong Kong
India
Indonesia
Israel
Japan
Korea
Philippines
Taiwan
Thailand
Other Asia

22,783
39,30 3
115
2,324
2,440
12,498
105,995

10,938

4,819

116,369
290
168
6,018
6,341
115
1,470
538
457
57,652

Total Asia

324,291

25,287

9,023

Africa:
Congo (Kinshasa)
Morocco
South Africa
United Arab Republic (Egypt).
Other Africa

126,698
11,428
17]

405
946

116

4,127
11
1

,

11

1,114
938
7,272
5,485
79

4,397
2,976

17

86,724

65
538
43
891
26

4,200
1,006

,

924
8,069
2,138
64

4
3,534
2
3

16,230
16,650

354
12,

U7

489
1,000
12,000
30,861

1,725

189,440

82,436

18,105

2
11

61

5,485

74

311
10
15

6,719
194
15,735

74
26

80

4
522

303

399
800
1,054
190
4,142

10,605

163

Total Africa

23,999

626

383

6,585

16,103

302

Other countries;
Australia
All other,

31,132
8,819

52

1,429
4,418

25,866
4,363

3,717

Total other coxintries.

International and regional;
International
European regional
,
Latin American regional..
Total international and regional..

Grand total

4

29

39,951

77

52

5,847

30,229

3,746

257,568
7,827
27,803

72,479

24,455

9,812

150,462
7,827

360

293,198

100,257

24,455

q,R37

7,43 ,437

7,155

27,778

25

158,289
.

-

,

'

360
I

16,566
111,379
35,638
26,962
279,026
135,772
3,491
90,462
213,018
127,321
32,871
37,217
124,497
,534,383
1,317
,793,078
1,586
86,373
1

U.

S.

Government
bonds and
notes

Corporate and
other
Bonds

Stocks

Foreign securities

Bonds

Stocks

.

.

111

September 1966
.CUMULATIVE TABLE OF CONTENTS.

October 1965 through September 1966
Issue and page number
19o5

1966

Dec.

Reporting bases.

II

Feb.

Apr.

May

II

July

Aug.
IT

IE

Article:

Treasury financing operations.

A-1

Summary of Federal fiscal operations

1

.

A-1
1

A-1

A-1

1

1

A-1
1

A-1

IV

IV

IV

IV

1

1

1

1

1

Administrative budget receipts and expenditures :
Receipts by principal sources
Detail of miscellaneous receipts by major categories
Chart - Internal revenue collections by principal sources
Expenditures by agencies
Interfund transactions excluded from txith net budget receipts
and budget expenditures
Summary of appropriations and authorizations, expenditures, and
balances, by agencies
Expenditures and balances by functions
Expenditures by functions
Detail of excise tax receipts
Summary of internal revenue receipts by States, calendar year 1965.

Trust and other transactions
Summary of trust and other transactions
Trust receipts
Trust, deposit fund, and Government-sponsored enterprise
expenditures
Investments in public debt and agency securities (net)
Sales and redemptions of Government agency securities in
market (net)
Interfund transactions excluded from both net trust
and trust expenditures
Federal Old-age and Survivors Insurance Trust Fund
Federal Disability Insurance Trust Fund
Railroad Retirement Account
Unemployment Trust Fund
National Service Life Insurance Fund
Investment of specified trust accounts in public debt seciu'ities,
by issues (latest date June 30, 1966)

3

4
5

6
7

:

•

•

Consolidated cash transactions
Summary of Federal Government cash transactions with the public
Intragovemmental and other noncash transactions
Federal receipts from and payments to the public - seasonally
adjusted and unadjusted

11

10
10

IJ
10

i;
13

11
12

11
12

14

1,

13

13

14

14
15

l;

10

11

13

Ij
11

13

U

11
11

12

11
12

12
13

15

16

13

10
10

10
10

11
12

11

14

14

15

13

13

15

16

14

14
15
16
16
17

13

16
17
17
13
19

16
16

15
15
16
17

U

10
10

17
13

12

18

19

19

:

Account of the Treasurer of the United States
Status of the Account of the Treasurer of the United States
Analysis of changes in tax and loan account balances
Summary of cash transactions through the Account of the Treasurer
of the United States
Gold assets and liabilities of the Treasury

15
16

20

Id

18
19

1'/

16
17

22
23

18
19

16
17

:

17
18

2*j

19

13

23

13

19

24

19

20

25

22
22

20
20

19
20

26
26

2Z
22

21
21

Monetary statistics
Money in circulation.

26
26

:

27

Debt outstanding
Summary of Federal securities
Computed interest charge and rate on Federal securities
Interest-bearing public debt
Maturity distribution and average length of marketable
interest-bearing public debt
Special public debt issues to U, S. Government investment accounts.
Treasury holdings of securities issued by Government agencies
Interest-bearing securities issued by Federal agencies but not
guaranteed by the U S Government
:

.

Statutory debt limitation

20
20
21
21
23

^1
21

25
25

26
26
27
28

26
26
27

24
24
25

22
22
23

28
28
29

24
24

27
28
29

25

23

29

26
27

24

30
31

25

30

28

26

32

26

31

29

27

33

29

23

34
36

30
32
34

29
31

33

37
42

22

24

22
23

25

24

23

26

25

25

23
23
24

28
28
29

25

24

29
30
31

25

27

.

24

.

25

30

26
28

31
33
35

28
30
32

27
29

30

31

34
36

3,

30
32

33
33

3S
43

35
40

34
39

39
44

38
43

36
41

47

38
43

41

46

43

42

47

46

44

50

46

49

4q

45

50

49

47

53

49

51

56

53

52

57

5V

5^'

61

56

61

63

61

Public debt operations:
ope
Maturity scnedule of interest-bearing public marketable securities
other than regular weekly Treasury bills.
Offerings of Treasury bills
New money financing through regular weekly Treasury bills
Offerings of public marketable securities other than regular
weekly Treasury bills
Securities issued in advance refunding operations
Allotments by investor classes on subscriptions for public
marketable securities other than regular weekly Treasury bills.
Disposition of matured public marketable securities other than
regular weekly Treasury bills
Foreign series securities (nonmarketable) issued to official
institutions of foreign coimtries
Foreign currency series securities (nonmarketable) issued to
official institutions of foreign countries

(Continued on following page)

32

33
32

32

33

33

3'^

36
3i

53

57

5o

61

63

62

67

Treasury Bulletin

112
.CUMULATIVE TABLE OF COHTEKTS.

October 1965 through September 1966

-

(Continued)
Issue and page number
1966

19c;

United States savings bonds
Cumulative sales and redemptions by series
Sales and redemptions by periods, all series combined
Sales and redemptions by periods, Sei-ies E through K
Redemptions of matured and unmatured bonds
Sales and redemptions by denominations, Series E and H combined...
Sales by States, Series E and H combined

Jan.

Feb.

Mar.

Apr.

65
65
66
68
69

66
66
67
69

64
64
65
67

May

June

July

Aug.

70
70
71
73
74

66
66
67
69

65
65
66
68

70
70
71
73

:

Q^me^ship of Federal securities
Distribution by classes of investors and types of issues
Net market purchases or sales for investment accounts handled by
the Treasury
Estimated ovmership

64

61

64
65
67
68

61

60
60

62
64

61
63

63

69

65

64

71

70

68

75

70

69

76

63
6i

69
70

65
66

64
65

71
72

70
71

68
69

75

70
71

69
70

76
77

59
59

60
62

74
75

:

Treasury survey of ovnership of Federal securities:
Ownership by baiks, insurance companies, and others
Ownership by commercial banks classified by membership in Federal
Reserve System ( latest date June 30, 1966)

Market quotations:
End-of-month closing quotations on Treasury securities by issues
Chart - Yields of Treasury securities

.

72

70

.

69

75

71

77

71
73

72

78
79

75

76
77
77
78

73

Monetary statistics:
Money in circulation
Monetary stocks of gold and silver
Gold assets and liabilities of the Treasury
Components of silver monetary stock

74
75
75
76

80
81
81
82

70
72

81

83

76
73

74
76

81
33

76
73

75
77

90

73

74

84
85

79
80

77
78

84
85

79
80

73
79

91
92

75

86

23

21

27

23

22

76
76
77

87
87

22

'20

'26

22

21

27
'26

88

:

77
78
78

78

80
81
81

79
83
80

National bank reports:
Earnings, expenses, and dividends for calendar years 1961-65^

81

International financial statistics:
U.S. gold stock, and holdings of convertible foreign currencies
by U.S. monetary authorities
U.S. Treasury nonmarketable notes and bonds issued to official
institutions of foreign countries
U.S. monetary gold transactions (net)
Estimated gold reserves and dollar holdings of foreign countries
and international institutions
Liabilities to foreign official institutions and international and
regional organizations

Capital movements between the United States and foreign countries:
Summary by periods beginning 1946
Summary by countries and periods
Short-term banking liabilities to foreigners, latest month
Short-term banking claims on foreigners, latest month
Long-term banking liabilities to and claims on foreigners,
latest month
Purchases and sales of long-term securities by foreigners,
latest mon th
Short-term liabilities reported by nonbanking concerns
Short-term claims reported by nonbanking concerns
Long-term liabilities reported by nonbanking concerns
Long-term claims reported by nonbanking concerns
Foreign credit and debit balances in brokerage accounts
Short-term liabilities, countries and areas not regularly reported
Purchases and sales of long-term securities by foreigners during
calendar year 1965
Foreign currencies acquired by the United States utthout purchase
with dollars:
Tranbactions and balances in Treasury accounts
Transactions and balances in agency accounts
anl certain other business-type activities:
of financial condition (latest date March 31, 1966)
expense (latest date December 31, 1965)
application of funds (latest date December 31, 1965)...

81

81

86

82

32

93

81
82

86
87

82
83

82
83

93

90

81
82

84

84

95

85

96

79

83

79

79
80

83
84

79
80

80

89

81

81

85

81

82

91

83

83

82

86

82

33

92

84

84

88

87

84
37

85
88

96
97

91
100
101

96
97

97

94
97
106

98

107

98

102

98

99

99
100
101

103
104
105
107
110
113
114

99
100
101
103
106
109
110

115

111

.

Corporations
Statements
Income and
Source and

78
33

Average yields of long-term bonds:
Average yields of Treasury and corporate bonds by periods
Chart - Average yields of Treasury and corporate bonds

Exchange Stabilization Fund (latest date March 31. 1966)
Balance sheet
U.S. stabilization agreements
Income and expense

66

65

76

103
104

86
89

91

37

87

98

94

98
99

98
99

103
104

90
99
100

90
99
100

101
110
111

108

100

100

105

101

101

112

100
101
102
104
107
110
111

109
110
111
113
114
115
116

101
102
103
105
106
107
108

101
102
103
105
106
107
108

106
107
108
110
111
112
113

102
103
104
106
107
108
109

102
103
104
106
107
108
109

114
115
117
118
119
120

112

117

109

109

114

110

110

121

117
117

110
110

119

94

119

112

113

113

116

l.<5

13''

113

4

Treas.
HJ
10
.A2

1966
C.2

P

aOUND/

A

U.S. Treasury Dept.

Treasury Bulletin