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

POSTAGE AND FEES PAID
DEPARTMENT OF THE TREASURY
TREAS

SS3

OFFICE OF THE COMMISSIONER

WASHINGTON,

D.C. 20226

OFFICIAL BUSINESS
PENALTY FOR PRIVATE USE, »300

FIRST CLASS

n J s

F
Summer

•

Issue

Fiscal
bEP

983

b'8'i

tREA

TREASURY

Secretary
Department of the Treasury
Washington, D.C.

Office of

tine

Compiled by
Bureau of Government
Financial Operations

TREASURY

Compiled by
Bureau of Government

Office of the Secretary

Department of

thie

Treasury

Financial Operations

Washiington, D.C.

The Treasury Bulletin is
U.S. Government

for sale

by the Superintendent of Documents,
Washington, D.C. 20402

Printing Office,

©®[jQQ©[jDG§

OPERATIONS

FINANCIAL

Page

FEDERAL FISCAL OPERATIONS
FFO-1.

Summary of fiscal operations

FFO-2.

Budget receipts by source

Chart

FFU-3.

Budget receipts by source

Budget outlays by agency

FEDERAL OBLIGATIONS
FO-1.

Gross obligations incurred within and outside the Federal

FO-2.

Gross obligations incurred outside the Federal

Government by object class

Government by department or agency

ACCOUNT OF THE U.S. TREASURY
UST-1.

Elements of changes in Federal

Reserve and tax and loan note account balances

FEDERAL DEBT
FD-1.

Summary of Federal

FD-2.

Interest-bearing public debt

FD-3.

Government account series

FD-4,

Interest -bea

ri ng

debt

securities issued by Government agencies

nterest -bea

public debt held by private investors

FD-5.

Maturity distribution and average length of marketable

FD-6.

Debt

FD-7.

Treasury holdings of securities issued by Government corporations and other agencies

16
16

subject to statutory limitation

PUBLIC DEBT OPERATIONS

Article
POO-1.
PDO-2.

PDO-3.

POO-4.

Treasury financing operations

Maturity schedule of i nterest -bea
Treasury bills outstanding

ng marketable

public debt securities other than regular weekly and 62-week
20

Offerings of bil Is

Public offerings of marketable securities other than regular weekly Treasury bills
Allotments by investor classes on subscriptions for public marketable securities

U.S. SAVINGS BONDS AND NOTES
SBN-1.

Sales and redemptions by series, cumulative

SBN-2.

Sates and redemptions

SBN-3.

Sales and redemptions by period,

period, all

series of savings bonds and notes combined.

series E, EE, H, and HH

OWNERSHIP OF FEDERAL SECURITIES
securities by class of investors and type of issues

UFS-1.

Distribution of Federal

UFS-2.

Estimated ownership of public debt securities by private investors

29
29

HARKET BID YIELDS ON TREASURY SECURITIES
MBY-1.
Chart

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

30
31

Yields of Treasury securities

AVERAGE YIELDS OF LOHG-TERH BONDS
Ay-1.

Chart

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

32
33

FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS
FEDERAL CREDIT PROGRAMS
GA-II-1. - Direct and guaranteed loans outstanding
Chart

Direct and guaranteed loans outstanding,

34
37

1978-1983

INTERNATIONAL STATISTICS
INTERNATIONAL FINANCIAL STATISTICS
^1

reserve assets

IFS-1.

U.S.

IFS-2.

Selected U.S.

lFS-3.

Nonraarketable U.S.

IFS-4.

Weighted average of exchange rate changes for the dollar

Habltities to foreigners
Treasury bonds and notes issued to official

institutions and other residents of foreign countries

42
43

CAPITAL MOVEMENTS

LIABILITIES TO FOREIGNERS REPORTED BY BANKS IN THE UNITED STATES
- Total
liabilities by type of holder
CM-I-2. - Total liabilities by type, payable in dollars

CM-I-3.

Total

liabilities by country

CM-I-4.

Total

liabilities by type and country

CM-I-I.

CLAIMS ON FOREIGNERS REPORTED BY BANKS IN THE UNITED STATES

CM-II-I.

Total

claims by type

CM-II-2.

Total

claims by country

CM.II-3.

Total

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

III

©®[jQft©[raU§

Page

SUPPLEMENTARY LIABILITIES AND CLAIMS DATA REPORTED BY BANKS IN THE UNITED STATES
- Dollar claims on nonbank foreigners
LIABILITIES TO, AND CLAIMS ON. FOREIGNERS REPORTED BY NONBANKING BUSINESS ENTERPRISES IN THE UNITED STATES
CM-IV-I. - Total liabilUies and claims by type

CM-III-1.

•

53
54

CM-lV-2.

Total

liabilities by country

CM-IV-3.

Total

liabilities by type and country

CM-lV-4,

Total

claims by country

- Total claims by type and country
TRANSACTIONS IN LONG-TERM SECURITIES BY FOREIGNERS REPORTED BY BANKS AND BROKERS IN THE UNITED STATES
CM-V-1. - Foreign purchases and sales of long-term domestic securities by type

CM-IV-5.

58
58

CM-V-2.

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

CM-V-3.

Net foreign transactions in long-term domestic securities by type and country

CM-V-4.

CM-V-5.

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

FOREIGN CURRENCY POSITIONS
SUMMARY POSITIONS
FCP-I-1.

Nonbanking firms' positions

FCP-I-2.

Weekly bank positions

CANADIAN DOLLAR POSITIONS
FCP-II-1.

Nonbanking firms' positions

FCP-II-2.

Meekly bank positions

GERMAN MARK POSITIONS
FCP-III-I.

Nonbanking firms' positions

FCP-III-2.

Weekly bank positions

JAPANESE YEN POSITIONS
FCP-IV-1.

Nonbanking firms' positions

FCP-IV-2.

Weekly bank positions

SWISS FRANC POSITIONS
FCP-V-1.

Nonbanking firms' positions

FCP-V-2.

Weekly bank positions

STERLING POSITIONS
FCP-VI-I.

Nonbanking firms' positions

FCP-VI-2.

Weekly bank positions

U.S.

DOLLAR POSITIONS ABROAD

FCP-VII-1.

Nonbanking firms' foreign subsidiaries'

FCP-VII-2.

Weekly bank foreign office positions

positions

69
69

EXCHANGE STABILIZATION FUND
ESF-1.

Balance sheet

ESF-2.

Income and expense

CASH MANAGEMENT/DEBT COLLECTION
Article

Reform *88 cash management

SUMMARY OF ACCOUNTS AND LOANS RECEIVABLE DUE FROM THE PUBLIC

Accounts and loans receivable by function
Chart

Accounts and loans receivable by function

Accounts and loans receivable by agency

Summary reconciliation of gross accounts and loans receivable due from the public
Summary aging schedule of gross accounts and loans receivable due from the public

SPECIAL

REPORTS

CONSOLIDATED FINANCIAL STATEMENTS OF THE UNITED STATES GOVERNMENT, FISCAL YEAR 1982 (PROTOTYPE)

Not e. --Deta

figures may not add to totals because of rounding.

Abbreviations and symbol:

represents Revised,

82
112

U.S. CURRENCY AND COIN OUTSTANDING AND IN CIRCULATION

Preliminary, n.a. Not available,

Includes funds transferred from others.

FEDERAL FISCAL OPERATIONS
Table FFO-1.

— Summary

of Fiscal Operations

FEDERAL FISCAL OPERATIONS
Table FFO-2.

Budget Receipts by Source

FEDERAL FISCAL OPERATIONS
Table FFO-2.

[In

Budget Receipts by Source-Continued
milHons of dollars]
Excise taxes

Social insurance
taxes and

contributions--

Airport and airway trust fund

Con.

Fiscal year
or month

Gross

Net
social

insurance
taxes and
contributions

1978
1979
1980
1981
1982

123,410
141,591
160,747
182,720
201,131

1,328
1,628
1,877
25
67

1983 (Est.).
1984 (Est.).

211,061
n.a.

n.a.
n.a.

1982-June...
July...
Aug ....
Sept...
Oct

17,572
14,874
17,961
15,608
15,157
14,902
15,776
17,071
13,797
17,939
21,481
22.330
17.903

176
143
193
176
192
175
184
65
208

Nov
Dec

1983-Jan
Feb
Mar
Apr. ...
May
June. ..
Fiscal 1983
to date. ...

Black lung disability
trust fund

Refunds

Higtiway trust

Gross

Refunds

fund

Mi seel

Gross

laneous

Refunds

FEDERAL FISCAL OPERATIONS

FEDERAL FISCAL OPERATIONS
Table
[In

Fiscal year
or month

minions of dollars.

FFO— 3. — Budget Outlays

Agency

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

FEDERAL FISCAL OPERATIONS
Table FFO-3.

- Budget

Outlays by Agency-Continued

[In millions of dollars]

Fiscal year
or month

National
Aeronautics
and
Space
Administration

Veterans
Administration

other

FEDERAL OBLIGATIONS

"Obligations" are the basis on which the use of funds is controlled
They are recorded at the point at which the
Federal Government.
Government makes a firm commitment to acquire goods or services and are
the first of the four key events- -order, del 1 very, payment, and conIn
siJnption--which characterize the acquisition and use of resources.
general , they consist of orders placed, contracts awarded, services
received, and similar transactions requiring the disbursement of money.
in the

The obi igational stage of Government transactions is a strategic
point in gauging the impact of the Government's operations on t^*?
national economy, since it frequently represents for business firms the
Government commitment which stimulates business investment, including
Disbursements may not
inventory purchases and employment of labor.
occur for months after the Government places its order, but the order
the
private
econorny.
itself usually causes immediate pressure on

Obligations are classified according to

Table FO-1.

uniform set of categories

based upon the nature of the transaction without regard to its ultimate
purpose. All payments for salaries and wages, for example, are reported
as personnel compensation, whether the personal services are used in
current operations or in the construction of capital items.
Federal agencies often do business with one another; in doing so,
the "buyi ng" agency records obi igati ons , and the "performing" agency
In table FO-1. obligations incurred within the
records reimbursements.
the
those
incurred
outside
distinguished
from
Government
are
Government.
Table FO-2 shows only those incurred outside.

Obligation data for the administrative budget fund accounts were
first published in the September 1967 Treasury Bulletin, and the trust
fund accounts were fi rst published in the October 1967 Bui letin.
Beginning with the April 1968 Bulletin, the data are on the basis of the
the
recotimendations
of
the
pursuant
to
concepts
adopted
budget
President's Commission on Budget Concepts.

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

[In millions of dollars.

Source:

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

Object class

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

45,646
5,112
11,061

45.646
523
11,061

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

1,653
1,356
3,752
403
46.619
27,073

476
1,612
2,532
279
16,944
14.894

2,129
2.969
6,284
681
63.562
41,968

Acquisition of capital assets
Equipment
Lands and structures
Investments and loans

33,561
5.003
20,780

3.373
1,413
41

36,935
6,416
20,821

64,115
153,044
58,813
319

8,703
1,427
12,865

72.818
154,472
71.678

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

Other
Unvouchered
Undistributed U.S. obligations

319

853
310

Gross obligations incurred If

For Federal budget presentation a concept of "net obligations
This concept eliminates transactions
incurred" is generally used.
within the Government and revenue and reimbursements from the public
which by statute may be used by Government agencies without appropriation action by the Congress.
Sunmary figures on this basis
follow.
(Data are on the basis of Reports on Obligations
received from the agencies prior to reports submitted for budget

2.157

854
2,467

71,306

546,191

presentation and therefore may differ somewhat from the Budget of the U.S. Government. )
546,191
Gross obligations incurred (as above)
Deduct:
-78,863
Advances, reimbursements, other income, etc
-60,444
Of f setti ng recei pts

Net obi igati ons incurred

406.884

FEDERAL OBLIGATIONS
Table FO-2.

—

Gross Obligations Incurred Outside the Federal Governnnent
by Departnnent or Agency, as of Mar. 31, 1983

[In millions of dollars.

Source: Standard Form 2?5. Report on Obligations, from agencies]

Personal services and benefits

Classification

FEDERAL OBLIGATIONS
Table FO-2.

- Gross Obligations Incurred Outside the Federal Government
by Department or Agency, as of Mar. 31, 19831-Con.
[In

minions of dollars]
Grants and fixed charges

Acquisition of
capital assets

Classification

Equipment

Lands
and
structures

Investments
and
loans

Grants,

ACCOUNT OF THE

U.S.

TREASURY

Source and Availability of the Balance In the Account of the U.S. Treasury
operating cash of the Treasury is maintained in Treasury'
accounts with the Federal Reserve banks and branches and in tax and loan
accounts.
As the balances in the accounts at the Federal Reserve banks
become depl eted, they are restored by cal 1 i ng in {wi thdrawing) funds
from
thousands
of
financial
institutions
throughout
the
country
authorized to maintain tax and loan accounts.
The

Under authority of Public Law 95-147, the Treasury implemented a
program on Nov. 2, 1978, to invest a portion of its operating cash in
ions of depositaries maintaining tax and loan accounts.
gat
Under
i
the Treasury tax and loan investment program, depositary financial
institutions select the manner in which they will participate in the
program.
Depositaries that wish to retain funds deposited in their tax
and loan accounts in interest-bearing obligations participate under the
Note Option; depositaries that wish to remit the funds to the Treasury's
account at Federal
Reserve banks participate under the Remittance
Option.
obi

Table UST-1.

- Elements

[In millions of dollars.

Changes

Deposits to tax and loan accounts occur in the normal course of
business
under
uniform
a
procedure applicable to all
financial
institutions whereby customers of financial institutions deposit with
them tax payments and funds for the purchase of Government securities.
In most cases the transaction involves merely the transfer of funds from
a customer's account to the tax and loan account in the same financial
institution.
On occasions, to the extent authorized by the Treasury,
financial
institutions are permitted to deposit in these accounts
proceeds from subscriptions to public debt securities entered for their
own account as well as for the accounts of their customers.
The tax and loan system permits the Treasury to col lect funds
through financial institutions and to leave the funds in Note Option
depositaries and in the financial communities in which they arise until
such time as the Treasury needs the funds for its operations.
In this
way the Treasury is able to neutral i ze the effect of its fluctuation
operations on Note Option financial
institution reserves and the
economy.

Federal Reserve and Tax and Loan Note Account Balances

Figures on basis of telegraphic reports.

Source: Bureau of Government Financial Operations
]

Credits and withdrawals
Federal
Fiscal year
or month

952,116

1982-June.
July.,

Aug..
Sept.,

Oct..
Nov..,

Dec.
1983-Jan..,
Feb..
Mar..,
Apr.
May..,
June.

Tax and loan note accounts

Proceeds from sales of securities 3/

Withdrawals 2/
Received
directly

1978
1979
1980
1981
1982

Reserve accounts

Credits 1/

Received
through remittance option
tax and loan
depositaries

Taxes

Marketable
issues

Nonmarketable
issues

_5/

Total

credits

Withdrawal
(transfers to
Federal Reserve
accounts)

13
FEDERAL DEBT
Table FD-1.

- Summary

of Federal Debt

FEDERAL DEBT
Table FD-3.
_L!n

lions of dollars.

- Government Account

Series

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

FEDERAL DEBT
Table

FD— 4. —

Interest-Bearing Securities Issued by

Government Agencies

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

End of
fiscal year
or month

1978
1979
1980
1981
1982

8,881
7,232
6,616
6,086
4,952

897
767
641
516
388

601
551

495
432
336

3,166
3,004
2,842
2,715
2,165

2,141
933
661
446
88

1,825
1,725
1.725
1,725
1,725

250
250
250
250
250

2
1

2
2
1

FEDERAL DEBT
Table

FD— 5. —

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

Held by Private Investors
[In mtlllons of dollars.

End of
fiscal year
or month

Amount
Outstanding
privately
held

Source: Office of Government Finance and Market Analysis In the Office of the Secretary]

Maturity classes
Within
1 year

1-5

years

5-10
years

10-20
years

20 years
and over

Average

17
FEDERAL DEBT
Table FD-7.

Treasury Holdings of Securities Issued by Government Corporations and Other Agencies

TREASURY FINANCING OPERATIONS, APRIL-JUNE 1983

Auction of 2-Year Notes
13 the Treasury announced that it would auction $7,750 million
of 2-year notes to refund $4,244 million of notes maturing April 30, 1983, and
The notes offered were Treasury Notes of
to raise $3,506 million new cash.
dated May 2, 1983, due April 30. 1985, with interest
Series T-1985, to be
An interest
payable on October 31 and April 30 in each year until maturity.
rate of 9-1/2 percent was set after the determination as to which tenders were
accepted on a yield auction basis.
On

April

Tenders for the notes were received until 1:30 p.m. EST, April 20, and
totaled $19,101 mi 11 ion, of which $7,756 million was accepted at yields
ranging from 9.60 percent, price 99.822. up to 9.63 percent, price 99.769.
Noncompetitive tenders were accepted in full at the average yield of accepted
totaled
These
tenders,
percent,
price
99.805.
$1,436 million.
9.61
Competitive tenders accepted from private investors totaled $6,320 million.
In addition to the $7,756 mi 11 ion of tenders accepted in the auction
process, $366 million of tenders were accepted at the average price from
Federal
Reserve banks as agents for foreign and international monetary
authorities, and $342 million of tenders were accepted at the average price
from Government accounts and Federal Reserve banks for their own account in
exchange for maturing securities.

May Quarterly Financing
On April 27 the Treasury announced that it would sell to the public at
auction, under competitive and noncompetitive bidding, up to $6,600 million of
3-year notes of Series M-1986, $4,750 million of 10-year notes of Series B1993, and $3,750 million of 29-1/2-year 10-3/8 percent bonds of 2007-12 to
refund $5,216 million of publicly held Treasury securities maturing May 15,
and to raise $9,800 million new cash.

Interest rate of 9-3/8 percent was set on the notes of Series H-1986
after the determination as to which tenders were accepted on a yield auction
The notes of Series H-1986 will be dated May 16. 1983. due May 15,
basis.
1986, with interest payable semiannual ly on November 15 and May 15 unti 1
maturity.
An

Tenders for the notes of Series M-1986 were received until 1:30 p.m.
EDST, May 3, and totaled $16,848 million, of which $6,517 million was accepted
at yields ranging from 9.45 percent, price 99.808, up to 9.49 percent, price
99.706.
Noncompetitive tenders were accepted in full at the average yield of
accepted tenders, 9.48 percent, price 99.732.
These totaled $1,737 million.
Competitive tenders accepted from private investors totaled $4,780 million.
In addition to the $6,517 mi 11 ion of tenders accepted in the auction
process. $235 mi lion of tenders were accepted at the average price from
Federal
Reserve banks as agents for foreign and international monetary
authorities, and $500 million of tenders were accepted at the average price
from Government accounts and Federal Reserve banks for their own account in
exchange for maturing securities.

Tenders for the notes of Series B-1993 were received until 1:30 p.m.
EDST, Hay 4, and totaled $11,214 million, of which $4,768 million was accepted
at yields ranging from 10.14 percent, price 99.907, up to 10.18 percent, price
Noncompetitive tenders were accepted in full at the average yield of
99.660.
These totaled
percent,
price
99.783.
accepted
tenders.
10.16
$1,088
million.
Competitive tenders accepted from private Investors totaled $3,670
mi lion.
1

In addition to the $4,758 million of tenders accepted in the auction
process, $30 mi 11 ion of tenders were accepted at the average price from
Reserve banks as agents for foreign and international monetary
Federal
authorities, and $300 million of tenders were accepted at the average price
from Government accounts and Federal Reserve banks for their own account in
exchange for maturing securities.

The 10-3/8 percent bonds of 2007-12 were an additional issue of the bonds
dated November 15, 1982, due November 15. 2012, with interest payable on
The bonds were auctioned on a yield
November 16 and May 15 until maturity.
basi s.

Tenders for the bonds were received until 1:30 p.m. EDST. May 5, and
totaled $7,672 million, of which $3,752 million was accepted at yields ranging
from 10.26 percent, price 101.061. up to 10.32 percent, price 100.504.
Noncompetitive tenders were accepted in full at the average yield of accepted
These totaled
$800 million.
tenders,
percent,
price
100.782.
10.29
Competitive tenders accepted from private investors totaled $2,952 million.
In addition to the $3,762 million of tenders accepted in the auction
process, $17 5 mi lion of tenders were accepted at the average price from
Government accounts and Federal Reserve banks for thei r own account and i
exchange for maturing securities.
1

Payment for accepted tenders in all three auctions was required to be
completed on or before May 16, 1983, in cash, maturing securities, or other
funds immediately available to the Treasury.

52-Week Bills
On April 8 tenders were invited for approximately $7,750 million of 364day Treasury bills to be dated April 21, 1983, and to mature April 19, 1984.
The issue was to refund $5,269 million of 364-day bills maturing April 21 and
They
Tenders were opened on April 14.
raise about $2,480 million new cash.
totaled $19,678 million, of which $7,751 million was accepted, including $503
million of noncompetitive tenders from the public and $1,160 million of the
bills issued at the average price to Federal Reserve banks for themselves and
The average
as agents for foreign and international monetary authorities.
bank discount rate was 8.275 percent.

An interest rate of 10-1/8 percent was set on the notes of Series B-1993
after the determination as to which tenders were accepted on a yield auction
basis.
The notes of Series B-1993 will be dated May 16, 1983. due May 15,
1993, with interest payable semiannually on November 15 and May 15 until
maturity.

Auction of 2-Year Notes
On Hay 18 the Treasury announced that it would auction $7,750 mil lion of
2-year notes to refund $4,238 million of publicly held notes maturing May 31.
1983, and, in conjunction with the simultaneous offering of $5,750 million of
The notes
5-year 2-month notes, to raise about $9,262 mi 1 ion new cash.
offered were Treasury Notes of Series U-1985. to be dated May 31, 1983. due
May 31. 1985. with interest payable on the last day of November and May in
An
each year until maturity, issued in a minimum denomination of $6,000.
interest rate of 9-7/8 percent was set after the determination as to which
tenders were accepted on a yield auction basis.
1

Tenders for the notes were received until 1:30 p.m. EDST, May 26, and
totaled $17,716 mi 1 ion, of which $7,7 72 mi Ulon was accepted at yields
ranging from 9.89 percent, price 99.973, up to 9.93 percent, price 99.902.
Noncompetitive tenders were accepted in full at the average yield of accepted
tenders.
percent,
price
These
totaled
9.92
99.920.
$1,720 million.
Competitive tenders accepted from private investors totaled $6,052 million.
1

In addition to the $7,772 million of tenders accepted in the auction
process, $375 mi 11 ion of tenders were accepted at the average price from
Federal
Reserve banks as agents for foreign and international monetary
authorities, and $525 million of tenders were accepted at the average price
from Government accounts and Federal Reserve banks for their own account in
exchange for maturing securities.
In the May 18 offering announcement, the auction of the notes had been
scheduled for May 24.
However, due to the lack of congressional action to
On Hay 26
raise the public debt limit, the auction was postponed on May 23.
the auction was rescheduled for that same day.
The issue date was not
affected.

Auction of 5-Year 2-Month Notes

Cash Management

On April 4 tenders were invited for approximately $3,000 million of 10day bills to be issued April 11. 1983, representing an additional amount of
The issue was to raise
bills dated April 22, 1982, maturing April 21, 1983.
They totaled $18,797 million, of
Tenders were opened on April 6.
new cash.
The average bank discount rate was 8.964
which $3,018 million was accepted.

percent.

In the May 18 offering announcement, the auction of the 5-year 2-month
However, due to
notes was scheduled for Hay 26, with settlement on June 1.
lack of congressional action to raise the public debt limit, the auction was
On Hay 26, the auction was rescheduled for June 1, with
postponed on May 24.
the issue date changed to June 3 instead of the originally announced June 1
date.

52-Week Bills
On May 6 tenders were Invited for approximately $7,750 million of 364-day
The
Treasury bills to be dated May 19, 1983, and to mature May 17. 1984.
issue was to refund $5,681 million of 364-day bills maturing May 19 and to
They
Tenders were opened on May 12.
provide about $2,169 million new cash.
totaled $18,183 million, of which $7,780 million was accepted, including $448
million of noncompetitive tenders from the public and $1,930 million of the
bills issued at the average price to Federal Reserve banks for themselves and
The average
as agents for foreign and International monetary authorities.
bank discount rate was 8.05 percent.

Cash Management 6i lis
On May 26 tenders were invited for approximately $6,000 million of 15-day
bills to be issued June 1. 1983. representing an additional amount of bills
The issue was to raise new
dated June 17, 1982, maturing June 16, 1983.
They totaled $22,860 mi llion, of which
cash.
Tenders were opened on May 27.
$6,003 million was accepted. The average bank discount rate was 8.61 percent.
On Hay 31 tenders were Invited for approximately $2,500 million of 73-day
bills to be issued June 6, 1983. representing an additional amount of bills
The issue was to raise new
dated February 17. 1983, maturing August 18, 1983.
They totaled $8,761 million, of which
Tenders were opened on June 2.
cash.
The average bank discount rate was 8.51 percent.
$2,502 million was accepted.

On Hay 18 the Treasury also announced that it would aucf^ion $5,760
million of 6-year 2-month notes to raise new cash.
The notes offered were
Treasury Notes of Series J- 1988, to be dated June 1. 1983, due August 15,
1988, with interest payable on February 16 and August 15 in each year until
maturity, issued in a minimum denomination of $1,000. An interest rate of 101/2 percent was set after the determination as to which tenders were accepted
on a yield auction basis.

Also on May 31, tenders were invited for approximately $2,500 million of
164-day bills to be issued June 6, 1983, representing an additional amount of
The issue was to raise
bills dated May 19. 1983. maturing November 17. 1983.
They totaled $8,373 million, of
Tenders were opened on June 2.
new cash.
The average bank discount rate was 8.65
which $2,607 million was accepted.
percent.

Tenders for the notes were received until 1:30 p.m. EDST, June 1, and
totaled $12,980 mil Hon. of which $5,763 mil lion was accepted at yields
ranging from 10.48 percent, price 99.975. up to 10.50 percent, price 99.897.
Noncompetitive tenders were accepted in full at the average yield of accepted
tenders.
price
totaled
10.60 percent,
99.897.
These
$1,063 million.
Competitive tenders accepted from private investors totaled $4,700 million.

Public Debt Limit
Public Law 98-34, signed by the President on May 26, raised the public
This legislation
debt limit to $1,389 billion through September 30, 1983.
also ended the distinction between temporary and permanent debt limits, making
addition,
the legislation
In
ceiling.
permanent
billion
a
the $1,389
inrrojcofi the hrtnri iimitflTifin fmm <;iin billion to $150 billion.

19
TREASURY FINANCING OPERATIONS, APRIL-JUNE 1983

Auction of 2-Year Notes
On June 8 the Treasury announced that it would auction $8,000 million of
2-year notes to refund $4,117 million of publicly held notes maturing June 30,
1983. and to raise about $3,900 million new cash.
The notes offered were
Treasury Notes of Series V-1985, to be dated June 30, 1983. due June 30. 1985,
with interest payable semiannually on December 31 and June
unti
30
maturity.
An interest rate of 10 percent was set after the determination as
to which tenders were accepted on a yield auction basis.

Tenders for the notes were received until 1:30 p.m. EDST, June 15, and
totaled $13,962 mi 11 ion, of which $8,003 mi 1 lion was accepted at yields
ranging from 10.00 percent, price 100.000, up to 10.12 percent, price
99.788.
Noncompetitive tenders were accepted in full at the average yield of
accepted tenders, 10.09 percent, price 99.841.
These totaled $1,566 mi 11 ion.
Competitive tenders accepted from private investors totaled $6,437
mi

1 1

ion.

In
addition to the $8,003 million of tenders accepted in the auction
process, $300 mi 1 1 ion of tenders were accepted at the average pri ce from
Federal
Reserve banks as agents for foreign and international monetary
authorities, and $600 million of tenders were accepted at the average price
from Government accounts and Federal Reserve banks for their own account in
exchange for maturing securities.

Auctions of 4-Year Notes, 7-Year Notes, and 20-Year 1-Month Bonds
June 14 the Treasury announced that it would sell to the public at
auction, under competitive and noncompetitive bidding, up to $5,750 mi 11 ion of
4-year notes of Series J-1987, $5,000 million of 7-year notes of Series E1990, and $3,500 million of 20-year 1-month bonds of 2003 to refund $2,697
million of publicly held Treasury securities maturing June 30, and to raise
about $11,600 million new cash.
On

An interest rate of 10-1/2 percent was set on the notes of Series J-1987
after the determination as to which tenders were accepted on a yield auction
basis.
The notes of Series J-1987 will be dated June 30, 1983, due June 30,
1987, with interest payable semiannual ly on December 31 and June 30 unti 1
maturity.

Tenders for the notes of Series J-1987 were received until 1:30 p.m.
EDST, June 21, and totaled $14,683 million, of which $4,494 million was
accepted at yields ranging from 10.61 percent, price 99.649, up to 10.62
percent, price 99,617,
Noncompetitive tenders were accepted in full at the
average yield of accepted tenders, 10.62 percent, price 99.617.
These totaled
$1,293 million.
Competitive tenders accepted from private investors totaled
$4,494 million.

In addition to the $5,787 mi llion of tenders accepted in the auction
process, $305 mi 1 ion of tenders were accepted at the average price from
Federal
Reserve banks as agents for foreign and international monetary
authorities, and $316 million of tenders were accepted at the average price
from Government accounts and Federal Reserve banks for their own account in
exchange for maturing securities.
1

An interest rate of 10-3/4 percent was set on the notes of Series E-1990
after the determination as to which tenders were accepted on a yield auction
basis.
The notes of Series E-1990 will be dated July Si 1983. due July 15,
1990, with interest payable semiannually on January 15 and July 15 until
maturity.

Tenders for the notes of Series E-1990 were received until 1:30 p.m.
EDST. June 22, and totaled $7,904 million, of which $5,001 million was
accepted at yields ranging from 10.76 percent, price 99,936. up to 10.84
percent, price 99.550.
Noncompetitive tenders were accepted in full at the
average yield of accepted tenders, 10.80 percent, price 99.743.
These totaled
mill
ion.
Competitive
tenders accepted from private investors totaled
$998
$4,003 million.
In addition to the $5,001 mi 1 ion of tenders accepted in the auction
process, $5 million of tenders were accepted at the average price from Federal
Reserve banks as agents for foreign and international monetary authorities.
1

An interest
rate of U-1/8 percent was set on the bonds after the
determination as to which tenders were accepted on a yield auction basis.
The
bonds of 2003 will be dated July 5, 1983, due August 15, 2003, with interest
payable semiannually on February 15 and August 15 until maturity.

Tenders for the bonds were received until 1:30 p.m. EDST, June 23, and
totaled $6,701 million, of which $3,503 million was accepted at yields ranging
from 11.18 percent, price 99.497, up to 11.24 percent, price 99.024.
Noncompetitive tenders were accepted in full at the average yield of accepted
tenders, 11.22 percent, price 99.181.
These totaled $803 million.
Competitive tenders accepted from private investors totaled $2,700 million.

52-Week Bills
On June 3 tenders were invited for approximately $7,750 million of 364day Treasury bills to be dated June 16, 1983. and to mature June 14. 1984.
The issue was to refund $5,777 million of 364-day bills maturing June 16 and
Tenders were opened on June 9.
They
to raise about $1,973 million new cash.
totaled $16,443 million, of which $7,760 million was accepted, including $416
million of noncompetitive tenders from the public and $1,855 million of the
bills issued at the average price to Federal Reserve banks for themselves and
The average
as agents for foreign and international monetary authorities.
bank discount rate was 8.80 percent.

.....

20
PUBLIC DEBT OPERATIONS
Table PDO-1.

[In

Maturity Schedule of Interest-Bearing Marketable Public Debt Securities Other than Regular
Weekly and 52-Week Treasury Bills Outstanding, June 30, 1983

"llHons of dollars. Source: Honthly Stjteniert of the Public Debt of the United States,
and Office of Gover nment Finance and Market Analysis In the Office of the
Secretary]
Amount of maturities
Amount
Held by

Date
of final

U.S.

Issue
date

maturity

Gov't

accounts and
Federal Reserve banks

Held by 1/
Al

Date
of final

other
nvest

636
105
2,077
694
289
653

4.834
2.204
3.755
4.799
2.412
4.774

July

15,...

Oct.
Nov.

15
15

46.101

826
69
510
776
440
545
856
1,162
1,209
391

865
606
892
529
1,189
1,092
491
309

600

5.647
4.525
5.256
2.310
5.567
5.051
2.518
3.805
3.000
5.578
3.181
5,376
6,015
962
2,472
3.797
6.886
10.120
7.361
4.591
5.121
7.080
3.311
7.409

Note
Bond
Note
Bond
Note
Note

1/04/83
2/14/58
4/04/83
4/07/75
8/15/80
11/17/80

Note
Note
Note

5/15/81
8/17/81
11/16/81

Note
Note
Bond
Note

2/16/82
5/17/82
8/15/62
7/06/77
11/15/82

1993
FTb.
10-7/8%15
Feb. 15. 88-93 4%
Feb.
15
6-3/4%
Feb.
15
7-7/8%
May
15.... 10-1/8%Au9. 15. 88-93 7-1/2%
Aug.
15
8-5/8%
Nov.
15
8-5/8%

Note
Bond
Bond
Bond
Note
Bond
Bond
Bond

2/15/83
1/17/63
1/10/73
1/06/78
5/16/83
8/15/73
7/11/78
10/10/76

Total.
1994
TTb.
15
9%
May 15.89-94 4-1/8%
Aug.
8-3/4%
15
Nov.
15
10-1/8%

Bond
Bond
Bond
Bond

1/11/79
4/18/63
7/09/79
10/18/79

Bond
Bond
Bond
Bond
Bond

2/15/55
1/10/80
4/08/80
7/09/80
10/14/80

1.448
407
638
389
610
342
28S
40
147

1.636
268
574
250
600
1.624
84
1.426
385
5

600
171

10-3/4I-I

3-1/2X
10-1/2X-I

8-1/4J
15..

I0-3/4I-,
13%-B

7.722
2.755
5.481
7,796
3,397
8,561
8.230
2,434
2,499
292
5,316
432
8,107
3,143
8.420
3.213
3.209
6,061
3,576
3,082
6,386
3,259

4.723
4.237
5.779

15
15
15

14-1/2X14-7/8%14-1/4%-

1.158
500
407
2.000
135
217
864
24
352

830
351
515

1.081
5.054
1.203
3.762
5.701

Total.

Hay
Aug.

300
498
19

Total

2,047
2,812
2,886

349
23

616

2,813
10,798
1,971
1,504
4,331

36.990

269
1,139

2.705
.040
2.821
5.952
2.394
3.430
5.780
3.205
2.306

3,363

33.633

47
39

3,461
3,309
2,169

151
3

1.754
39
3

Note
Note
Note

1/13/82
4/07/82
5/15/79

3.508
3.348
2.628

459

1.711
2,341
2,467

6,619

5,162
110
627
1.501
5.100
1.814
1.768
1.509

3.010
653
1.506
1.502

245
1.502
1.503
1.504
1.482

136
378
.221
132
159

Bond
Bond

3-1/2%

Total.
1999
Way 15,94-99
2000
TFb. 15.95-00 7-7/8%
Aug. 15. 95-00 8-3/8%

330

345
12
32

7.361

Bond
Bond
Bond
Bond
Bond

1/12/81
4/02/81
8/16/76
7/02/81
10/07/81

Bond
Bond

1/06/82
9/29/82

Bond
Bond

1/04/83
4/04/83

1.501
1.750
1.485
1.753
1.753

14-1/4%
11-5/8%

741
54
107

8,242
1,759
2,753

Total.

2003
FTb.
May

15
15

10-3/4%
10-3/4%
Total.

Flay

3.007
3.249

15.00-05 8-1/4%

Feb. 15.02-07 7-5/8%
Nov. 15.02-07 7-7/8%

6.256

4.224

2,156

Bond
Bond

2/15/77
11/15/77

4,234
1,495

1,568
265

Bond
Bond

8/15/78
11/15/78

2,103
5,230

749
1.628

Bond
Bond

5/15/79
11/15/79

.606
j201

735
820

Bond
Bond
Bond

2/15/80
5/15/80
11/17/80

2,494
2.987
4.736

693
1.070

2008
Sug. 15,03-08 8-3/8%

15,03-08 8-3/4%
Total.

2009
lfa"y

15.04-09 9-1/8%
15,04-0910-3/8%
Total.

2010
Feb .15,05-10 11-3/4%
May 15,05-10 10%

.15,05-10 12-3/4%

780

2.543
2011
H?y 15,06-11 13-7/8%
.15,06-11 14%
Total

Bond
Bond

5/15/81
11/16/81

.15,07-12 10-3/8%

Bond

11/15/82

2.913
323
1.454
1.453

188

1.474
1.158
1.492
1.450
5.762

Bond
Bond

2001
FTb.
15
11-3/4%
May
15
13-1/8%
Aug. 15.96-01 8%
Aug.
15
13-3/8%
Nov.
15-3/4%
15

593
1,636
1.350

6.143
57
28

5/15/73
0/03/60

Total.

4,470
68
418
1,365
4,722

14.622
97

6.236

2,631
8,846
915
1.412
4.076

17.880
692
42
209

6.671

Total.

15
15

1,952
1,056

17.591

U-1/2%
1998
Way 5,93-98
Nov.
15

182

21,417

10-1/2%
12-5/8%
10-3/8%

2007

4.055
1.771
5,382

5,054
861
2,576
5.033

19,140
336
471
419

7,745

182
556

1.974
3.500
6.08 5

774

342
1.186
668

21.643

r?b.
15
14-5/8%May
15
13-3/4%AU9. 15.87-92 4-1/4%
Aug.
15
7-1/4%
Nov.
15
10-1/2%-

2005

4.579
3.422
6.222

4.842

1992

678
252
332

58.049

4.(63
4.237
3,837

21,676
4.842

Total..
090
861
913
428
061

1.942

All

other
Investors

1991

Total.

12.505
98
1.255
302

Total..
10-1/21-1

19.781
576

7/08/82
9/29/82

U/15/79

Nov.
561

14-1/2%11-7/8J-

Note
Note
Note

3.913
694
604
662

Issue
date

ors

4,587
3,199
3,445
4,774
2.518
4.799

Gov't
accounts and
Federal Reserve banks
U.S.

Descrl pt Ion

maturity

387
1,086
3.225
657
284
469

10.562

of maturities

4.609
4.901

833

9.510

1.334

11.032

787

501

PUBLIC DEBT OPERATIONS
Table
[Amounts in millions of dollars.

PDO-2. -

Description of new issue
Issue date

Maturity
date

Offerings of Bills

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

Number of
days to

maturity

_1/

Amounts of bids accepted
Amount of
bids
tendered

Total

On com-

On noncom-

amount

petitive
basis II

petitive
basis 3/

$874.5
668.0
993.2
756.9
992.4
779.0
917.2
780.9
912.8
813.5
1,067.6
996.1
1,069.7
979.4
949.5
813.4
952.7
803.6
1,008.8
826.8
954.2
810.6
993.5
796.3
977.9
767.0
949.9
704.8
1,035.4
759.2
1,017.9
731.4
945.8
625.7
939.6
672.4
40.5
294.1
267.3
195.1
327.3
250.6
219.6
114.4
538.4
572.9
555.3
516.7
463.8
432.2

Amount
maturing on
issue date
of new
offering

Total

unmatured
issues outstanding after
new issues

Requl ar weekly:
(ra-week and 26-week)

1983-Mar.

1983-June

Sept.

182

June

Sept.
Sept.

June

July
Oct.
July
Oct.
July
Oct.
July
Oct.
Aug.

Sept.
Sept.
Apr.

14
21

28
May

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

12
19

June

2
9

23
30
52 weeks

16
IS
23
22
30
29
7

6
14

13
21
20

182
91

182
91
182
91

182
91
182

182

10
18

182

25
25
1
1

182
91

183
91
182

182

15
15
22
22
29
29

182
91

182

$13,462.4
14,226.9
15,766.1
16,629.8
16,462.3
14,349.5
13,047.9
17,642.9
14,132.9
15,152.9
15.196.2
16,074.7
15,205.0
15,398.3
17,977.6
13,737.9
15,776.7
15,017.0
16,764.1
15,859.7
14,999.9
16,592.4
13,786.5
13,471.1
12,963.8
14,292.1
13,842.0
16,040.9
13,889.7
16,137.1
14,593.9
15,206.3
12,838.2
12,749.1
15,422.4
13,435.4

r$6,227.4
r6,216.9
r6, 225.8
r6,223.8

r6,220.5
r6,219.8
r6,219.3
6,229.0
6,227.1
6,177.9
6,271.2
6,234.3
6,244.9
6,215.0
6,179.2
6,225.0
6,229.6
6,219.4
6,220.4
3,020.5
3,688.6
6,216.2
6,224.4
6,213.5
6,217.4
6,234.5
6,228.0
6,229.2
6,234.7
6,216.4
6,217.8
6,223.6
6,216.6

r$5,352.9
r5,547.9
r5,232.6
r5,467.9
r5,221.7
r5,432.5
r5,298.9
r5,439.6
r5, 307.0
r5,405.8
5,161.4
5,231.0
5,108.3
5.291.8
5,284.9
5,431.5
5,262.3
5,375.6
5,216.2
5,402.8
5,265.1
5,409.8
2,027.0
2,892.3
5,238.3
5,457.5
5,263.6
5,512.6
5,199.0
5,468.7
5,211.4
5,503.3
5,270.7
5,592.2
5,284.0
5,544.3

12,268.7
13,047.9
14,639.4
17,392.7
11,705.7
11,334.8
13,901.0
16,992.9
17,049.4
18,292.8
17,255.1
19,691.2
18,198.2
16,458.5

5,776.9
6,034.2
6,261.8
7,126.8
7,011.5
7,016.7
7,008.3
7,108.5
7,526.9
7,768.2
r7. 774.0
7,764.3
7,795.2
7,775.7

5,736.4
5,740.0
5,994.5
6,931.7
6,684.2
6,766.1
6,788.7
R6,994.2
6,988.4
7,195.3
r7,218.7
7,247.6
7,331.4
7,343.4

8,761.0
8,373.0

2,502.0
2,507.4

r6, 214.1

r6,211.5
r6, 216.1

5,621.6
6,227.4
5,816.2
6,225,8
5,821.7
6,214.1
5,824.1
6,216.1
5,811.3
6,219.8
5,812.7

r$77,658.8
rl50,534.8
r78,057.7
rl51,143.8
r78,424.9
rl51,700.2
r78,826.9
rl52,230.5
r79, 235.0
rl53,341.2
79,668.1
153,914.9
80,016.7
154,559.6
80,237.8
155,179.8
80,434.3
155,733.7
80,640.2
156,335.9
80,840.2
156,925.6
77,638.8
154,990.2
77,640.6
155,593.1
77,626.7
155,994.3
77,635.4
156,400.6
77,650.5
156,811.2
77,650.8
157,217.7
77,654.6
157,621.7

4,010.9
4,011.2
4,511.7
4,768.4
5,251.0
5,015.6
5,194.1
5,260.1
5,293.9
5,270.7
5,276.7
5,269.3
5,581.3
5,776.9

66,480.7
68,503.6
70,253.7
72,612.2
74,372.7
76,373.8
78,188.0
80,036.5
82,269.5
84,767.0
r87,264.3
89.759.3
91,973.2
93,972.0

$5,816.0
5,512.4
5,826.9
6,614.8
5,846.9
5,655.1
5,814.1
5,690.2
5,811.7
5,108.5
5,796.0
5,653.5
5,829.3
5,626.5
6,013.3
5,624.6
6,018.5
5,625.3
6,019.0
5,627.4
6,019.4
5,630.7
4/8,723.8

2/8,131.4
6,214.4

1982-June
July

17
15

1983-June
July

16
14

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

Aug.
Sept.
Oct.
Nov.
Dec.
Dec.
1984-Jan.
Feb.
Mar.
Apr.
May

9
7

4
2

30
27
24
24
21
19
16

Cash management
1983-June
6

6
3
1

29
26
23
22

364
364
364
364
364
364
364
364
364

June

19
17
14

364
364
364
364
364

1983-Aug.
Nov.

18
17

73
164

Footnotes at end of table.

PUBLIC DEBT OPERATIONS
Table PDO-2.

Offerings of Bills-Continued

PUBLIC DEBT OPERATIONS
Table PDO-3.

Public Offerings of Marketable Securities Other than Regular Weekly Treasury Bills

PUBLIC DEBT OPERATIONS
Table PDO-3.

Public Offerings of Marketable Securities Other than Regular Weekly Treasury Bills-Continued
[Dollar amounts io millions]

Date subscrip-

PUBLIC DEBT OPERATIONS

26
PUBLIC DEBT OPERATIONS
Table

PDO— 4. -

Allotments by Investor Classes

27
U.S.

SAVINGS BONDS AND NOTES

Series EE bonds, on sale since Jan. l, 1980. are the only savings
bonds currently sold.
Series HH bonds are issued in exchange for series
E and EE savings bonds and savings notes.
Series A-D were sold from
Mar. 1, 1935, through Apr. 30, 1941.
Series E was on sale from May 1,
1941, through Dec.
31,
1979 {through June 1980 to payroll
savers
only).
Series F and G were sold from Hay 1, 1941
through Apr. 30,
Series H was sold from June 1, 1952, through Dec. 31, 1979.
1952.
Series HH bonds were sold for cash from Jan. 1, 1980, through Oct. 31,
1982. Series J and K were sold from May 1, 1952, through Apr. 30, 1957.
,

Table

SBN-1. - Sales and Redemptions

U.S. savings notes were on sale May 1, 1967, through June 30,
1970.
The notes were el igible for purchase by indi vidual s with the
simultaneous purchase of series E savings bonds.
The principal terms
and
conditions
for
purchase
and
redemptions
and
information
on
investment yields of savings notes appear in the Treasury Bulletins of
March 1967 and June 1968; and the Annual Report of the Secretary of the
Treasury for fiscal year 1974.

by Series, Cumulative through June 30.

1983

[In millions of dollars.

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

Amount outstanding
Sales 1/

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

3,949

Accrued
discount

Sales plus
accrued
discount

Redemptions 1/

Interestbearing debt

Matured
non-interestbearing debt

28
U.S.

Table

SBN-3. -

SAVINGS BONDS AND NOTES

Sales and Redemptions by Period, Series

[In millions of dollars.

EE, H, and

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

Sales

OWNERSHIP OF FEDERAL SECURITIES
Table

OFS— 1. -

Distribution of Federal Securities by Class of Investors and Type of Issues
[In mil

ions of dollars]

Interest -bearing public debt securities

End of
fiscal year
or month

1978
1979
1980
1981
1982

1982-June
July

Total
Federal

outstanding

780,425
833,751
914,317
1,003,942
1,146,987

766,971
819,007
906,402
996,495
1,140,883

167,973
187,683
197,743
208,076
216,404

13,886
11,379
10,078
9,016
7,944

2/154,087
1/176,304
187,665
199.060
208,460

114,764
116,458
120,711
124,330
134,393

,084,668
1,094,628
1,114,214
1,146,987
1,147,713
1,166,569

1,078,431
1,083,296
1,108,131
1,140,883
1,136,826
1,160,489
1,195,496
1,199,599
1,213,742
1,242,993
1,242,067
1,289,897
1,318,111

211,749
206,302
205,839
216,404
210,986
203,920
209,355
206,958
203,274
201,155
201,868
226,794
229,290

7,994
6,882
7,295
7,944

203,756
199,420
198,644
208,460
203,925
197,936
203,379
200,996
rl97,339
rl95,266
195,891
220,823
223,386

127,005
132.640
132,858
134.393
132.080
137,676
139,312
132.368
135,561
136,651
140,176
141,179
141.673

1 ,

201 ,898

205,899
1,220,132
1,249,312
1,252,706
1,296,125
1,324,318
1

Mar
Apr
May
June

Public
issues
held by
Federal
Reserve
banks

securities
outstanding

Aug
Sept
Oct
Nov
Dec
1983-Jan
Feb

Held by U.S. Government accounts

Total

Nonmarketable

Interest-bearing public debt securities
End of
fiscal year
or month

— Con.

Held by private Investors
Total

Marketable

Nonmarketable

Matured
public
debt
and debt
bearing no
interest

7,061

5,985
5,976
5,962
r5,936
r5,890
5,977
5,971
5,904

Agency securities
Total

outstanding

Held by

30
MARKET BID YIELDS ON TREASURY SECURITIES
Table
Date

MBY-1. - Treasury Market

3-mo.

6-mo.

11.84S
9.00
8.19
7.97
8.34
8.21
8.12
8.40
8.67
8.52
8.50
9.14

12.81X

Monthly average

1982-July
Aug
Sept
Oct
Nov
Dec

1983-Jan
Feb
Mar
Apr
May
June

End of month

1982-July
Aug
Sept
Oct
Nov
Dec

1983-Jan
Feb
Mar
Apr
May
June

10.57
8.72
7.88
8.17
8.57
8.19
8.37

8.20
8.97
8.38
8.96
9.14

-y

Bid Yields at Constant Maturities,

2-yr.

3-yr.

5-yr.

Bills,

7-yr.

Notes, and Bonds'

10-yr.

20-yr.

30-yr.

MARKET BID YIELDS ON TREASURY SECURITIES, JUNE

30,

1983

32
AVERAGE YIELDS OF LONG-TERM BONDS
Table AY-1.
Treasury

—

Average Yields of Long-Term Treasury, Corporate, and Municipal Bonds

AVERAGE YIELDS OF LONG

TER^fl

BONDS

FINANCIAL OPERATIONS OF
Section

Table GA-ll-1.
[In thousands of dollars.

II.

GOVERNMENT AGENCIES AND FUNDS
Federal Credit Programs

Direct and Guaranteed Loans Outstanding, Mar. 31,

Source:

Schedule

Amount

outstanding

— Wholly

Operations]

Guarantees or Insurance

Direct loans or credit

Agency and program

1983

to the SF-220 compiled by the Bureau of Government Financial

Maximum
authority

Amount
outstanding

owned Government enterprises

U.S. dollar loans

Funds appropriated to the President:
International security assistance:
Defense Security Assistance Agency:
Foreign military credit sales
Military credit sales to Israel
Emergency security assistance for Israel
Liquidation of foreign military sales fund
Guaranty reserve fund
International development assistance:
Agency for International Development:
Alliance for Progress loan fund
Development loan fund
Development loan fund liquidation account
Housing and other credit guaranty programs
Common defense, economic, and triangular trade loans
Loans of predecessor agencies in liquidation
Other development programs
Overseas Private Investment Corporation
Total

funds appropriated to the President

Department of Agriculture:
Commodity Credit Corporation:
Commodi ty 1 oans
Loans to foreign governments and private trade entities....
Export credit sales program
Storage facility and equipment loans
Guaranteed foreign loans
Rescheduled claims on guaranteed loans
Agricultural Marketing Service:
Milk market orders assessment fund
Rural Electri fi cation Administration:
Rural communication development fund
Farmers Home Administration:
Agricultural credit insurance fund:
Farm ownership loans
Operat t ng 1 oans
Recreation loans
Soil and water conservation loans to individuals
Emergency loans
Economic emergency loans
Indian land acquisition loans
Grazing, recreation, irrigation, and forestry loans
Watershed Improvement and flood prevention loans
Resources conservation development loans
Programs in liquidation
Rural development Insurance fund:
Water and waste disposal loans to associations
Community facilities loans to associations
Business and industrial development loans
Rural development loan fund:
Community services loans to individuals and cooperative
associations t
Rural housing insurance fund:
Rural housing loans
Rural rental and cooperative housing
Rural housing site loans
Labor housing loans
Self-help housing land development fund
Water conservation and utilization projects t
Total

Department of Agriculture

Department of Commerce:
Economic Development Administration;
Loan revolving fund
Trade adjustment assistance
Drought assistance programs
National Oceanic and Atmospheric Administration:
Fisheries loan fund
Coastal energy impact fund
Federal ship financing fund, fishing vessels
Total

Department of Commerce

Department of Defense:
Defense production guarantees;
Ai r Force
Army
Navy
Civil:
Ryukyu Islands, construction of power systems
Total

Department of Defense

Department of Education:
College housing loans
Student loan insurance fund
Higher education facilities loan and insurance fund
Loans to nonprofit schools
loans to higher education institutions
Advances for reserve funds
Loans to students in higher education
Loans to law enforcement students
Cuban student loan program
Total Department of Education

271,139
227,500
443,731

271,139
227,500
443.731

1,937
563,249

1.937
563,249

2,954,373
8,503,439
59,628
4,503
13,846
311,788
5,572,763
35,451

2.954,771
10.195,359
59,628
4,503
13,846
311.788
6,464,663
50 000
,

13,213,816

1,192.001

395.934

18,963.347

8,353,089
665,316
1,096,224

19.389,070
8,353,089
665,316
1,096,224

168,559

19, 389, 070

3,928,022

300

10,256

419,020
329, 709

1,218
14,268
529,878
206,808
619
2,605
1,423
218

419.020
329,709
1,218
14,268
529.878
206,808
619
2,605
1,423
218

257,570
68,567
1,709

257.570
68,567
1,709

5,792

723,745
377,746
219
94,749
1,645

723,745

3,861

32.724,224

752,523
13,191
93,768
5,768
97,587
11,197

974,034

857

5,521

6,382

3,020,093
1,623,351
401,447
65
3,669
106,236
4,614,114
96,170
^0>^^^
9.885,811

5,124,081
1,623,351
804.250
41,420
25,520
106,235
6,169.720
428,250
34,000

5.702,344
2,687,301
14,708
284,576
9,662,088
4,429,986
76.603
157,684
73,022
16,823
413
5,538,960
1,384,009
2,477,873

Maximum
authority

FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS
Table GA-ll-1.

Direct

and Guaranteed Loans Outstanding, Mar. 31, 1983-Con.
[In thousands of dollars]

Direct loans or credit
Agency and program

Amount
outstanding

Naximun
authority

ggg ggj

1,300,118

I--WhoIly owned Government enterprises
U.S. dollar loans
Continued
Department of Eneray
Department of Health and Human Services:
Health Resources and Services Administration:
Health professions graduate student loan insurance fund....
Health professions education fund
Nurse training fund
'.!!!!!!!!
.'.'.'.".'.'.".'.'.'.".'
Medical facilities guarantee and loan fund
Health Maintenance Organization
,','*
Health teaching facilities
Hospital construction activities
!.!!'.!'.!'.'.!!'.!!!!!"
.'.'.'.'.".'.'.'
Community facilities and services
Other student loan programs
!!!!!**'
Charges for subsistance, laundry, and health services.'.'.'.".'.'."."

—

45 973

'uQ
615 771
i|i73

Total Department of Health and Human Services

705 460

Department of Housing and Urban Development:
Federal Housing Administration:
Property improvement loans
Purchase money mortgage
Mortgage insurance loans
Housing for the elderly or handicapped
."..".'::...':;
Low-rent public housing program......
Nonprofit sponsor assistance
Community disposal operations fund
Liquidating programs
Appalachian housing programs't
Government National Mortgage
Ass'oci'at'ion"
Special assistance functions
Emergency mortgage purchase
..";."
assistance."
Management and liquidating
functions...
"'."""-tgage-backed securitie
::;.';:;;:
RehaMH
!r
Kehabi
litation
loan fund..
Urban renewal programs...
New communities guarantee'fund! !!!!!!!""]

170 047

Total

Department of Housing and Urban
De^eiopJient.'.'.'.'.'
Department of the Interior:
Bureau of Reclamation:
Irrigation distribution systems
Small reclamation projects..
Drought emergency assistance
Bureau of Indian AffairsRevolving fund for loans.
Indian loan guaranty and
insura"nce"fund
Liquidation of Hoonah housing
s project
Territorial Affairs:
Alaska public works program...
***
Guam Power Authority
Virgin Islands construction.'".!!
ii"])!] |"
Total

lanKno
,

l?n«n
,,„?

'•ili
°°°
406,033
*°^
,

,,„ .
•?I?'?]J
"'•'*'

'«•"?
6,035
739,262
'•"'"
".'''.'

Department of the Interior

TT^^
'

85,670
260,028
17,687

''•?"
^•^°'
jUU
529

Department of State:
Emergencies in the diplomatic and
consular services
Loans to the United Nations
''•'••••••••••t>t..t. .,,,,,,, ,,^^^
Total Department of State

448.741
=====
2_5(),

jg ' 237

21.738
^^^^^^

195,596
60,973

197,598

86,266
!

!!!

?"" ^<i"'(»»e"t acquisitions
u^."h,'/.'"'i!j.'"'
Uashington Metropolitan Area Transit
Authoritv
construction bonds
Total

70a 'S,,

4'o80*fil4

„

department of TransportationFederal Aviation Admi ni strati
on
Purchase of aircraft
Federal Highway Administrat"i"on:
Right-of-way revolving fund..
Highway trust fund.
Maritime Administration:
Federal ship financing fund
Federal Railroad Administration:
Loans to railroads
Loans to Amtrak
Loans to United Stat^^Rai
i,;;;"fe;;ciation!!!
Urban Mass Transportation
Administration-

037

8*092
3*827
23*480
5*997

Department of Transportation

apartment of the Treasury:
Chrysler Corp. loan guarantees
New York City loan guarantees...!!!!!
Fishermen's protective fund
!
Other loans:
Greece
Hungary
!!!!!!!!!!!!!!
Turkey
United Kingdom.!!!!!!!!!!!!!!!!!!!!
Lend-lease and surplus property!!!!!!!!!!
!!!!!!!!!!!! !!!!!!
Total Department of the Treasury

,„„

4,
'

mTTsI

:
'

11.930
^25

n»o'7a5
i'2i3 699
3 442 j^g

FINANCIAL OPERATIONS OF
Table GA-ll-1.

GOVERNMENT AGENCIES AND FUNDS

Direct and Guaranteed Loans Outstanding, Mar. 31,

1983-Con.

[In thousands of dollars]

Guarantees or insurance

Direct loans or credit

Agency and program

—Wholly

Amount
outstanding

Maximum
authority

1,014,384
340,946
35,214
45,284
62,767
463
1,177,014
36,864
82,125
1,082

1,014.384
340,946
193,364
418.824
62,767
463
6,649,136
233,022
582,458
5,889

Amount
outstanding

owned Government enterprises

U.S. dollar loans--Continued

Veterans Administration:
Loan guarantee revolving fund:
Loans for homes, farms, and businesses
Direct loans to homeowners
Service-disabled veterans insurance fund
Veterans reopened insurance fund
Education loans
Vocational rehabilitation revolving fund
National service life insurance fund
U.S. Government life insurance fund
Veterans special life insurance fund
Veterans insurance and indemnities
Total Veterans Administration

Other independent agencies;
District of Columbia:
Loans for capital outlay and repayable advances
Export-Import Bank of the United States:
Foreign loans
Discount loans
Guarantees of loans to banks and exporters
Insurance issued through the Foreign Credit Insurance
Association
Certificates of loan participation
Federal Savings and Loan Insurance Corporation:
Loans to aid industry
Loans to did homeowners
General Services Administration:
Liquidation of Virgin Islands Corporation
Federal buildings fund
Disposal of surplus real and related personal property
Interstate Commerce Commission:
Ra 1 road i mp rovement 1 oans
National Credit Union Administration:
Share i nsu ranee fund
Small Business Administration:
Business loan and investment fund:
Business loans
Economic opportunity loans
Loans for the handicapped
State and local development company loans
Loans to energy-oriented businesses
Investment company assistance program
Di saster loan fund:
Financial assi stance programs
Tennessee Valley Authority:
Energy resource and conservation projects
United States Railway Association:
Conrail plant modernization

2,796.143

1,754,209

16,306,266
383,695

23,583,386
773.141

1,406,735
11,325
229.195
349,225

229.195
349,225

408

37,624

37.624

18,920

Total

other independent agencies

Total

budget Federal agencies

Off-budget Federal agencies:
Rural Electrification Administration:
Rural electrification and telephone revolving fund:
Electrical systems
Telephone systems
Rural telephone bank
Federal Financing Bank
United States Railway Association

2,381,180
250,954
88,956
277,871
30,188
246,146

268,922

854,439
29,215.839
113,865,497

7,598,822
2,231,233
1,209,957
127,717,203
5 8,421

off-budget Federal agencies

138,815.636

Total

Part

252,681.133

17.477.470
4.624.868
1.892,249
127.717,203
395.000

— Wholly

owned Government enterprises
Loans repayable in foreign currencies

Funds appropriated to the President:
International development assistance:
Agency for International Development:
Development loan fund, liquidation account
Loans of predecessor agencies
Common defense, economic, and triangular trade loans
Other development programs
Total

funds appropriated to the President

Department of the Treasury:
Loans to Korea and Yugoslavia
United States Information Agency
Total Part
II

2,381,180
250,954
88.956
277,871
30,188
246,146

5,740,929

Total

95,204

15,632

157,527
357,341
617,959
59,696

157,527
357,341
617,965
67,356

1,192,523

4,377
1,337

4,377
1,687

1.198,237

I--Pri vately owned Government-

sponsored enterprises
Farm Credit Administration:
Banks for cooperatives
Federal Intermediate credit banks
Federal land banks
Federal Home Loan Bank Board
Federal Home Loan Mortgage Corporation
Federal National Mortgage Association
Student Loan Marketing Association

9,341,046
20,945,802
50,569,322
60,024,235
4,734,661
71,310,475
2,956,661

Part III

219,882,202

Grand total, all parts

473,761,572

Total

9.341,046
20.945.802
50.569,322
60,024,235
4,734,661
71,310,475
2,956,661

Maximum
authority

O
o
H
I

D
5
r

2
D
D
n
z.

D
-I

xJ
jj

D
:5

DKlG^FOQfii^DODBglD ©ftSlftD§GD©l

41
INTERNATIONAL FINANCIAL STATISTICS
The tables In this section are designed to provide data
U.S. reserve assets and liabilities and other statistics
related to the U.S. balance of payments and international

Table IFS-3 shows U.S. Treasury nonmarketable bonds and
notes issued to official institutions and other residents of
f Orel gn
count ri es

on
f

nanci

posi t1 on.

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

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

Table IFS-2 brings together statistics on liabilities to
foreign official institutions, and selected liabilities to all
other foreigners, which are used in the U.S. balance of payments
stati sties.

Table IFS-1.

U.S.

Reserve Assets

[In millions of dollars]

Gold stock
Total

End of cal endar
year or month

reserve
assets 1/

Speci a
drawi ng
rights
1

Total

Treasury

42
INTERNATIONAL FINANCIAL STATISTICS
Table IFS-2.

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

INTERNATIONAL FINANCIAL STATISTICS
Table IF$-4.

Weighted Average of Exchange Rate Changes

for the Dollar

[Percent change relative to exchange rates as of end-Hay 1970]

Trade-weighted average appreciation (+)
or depreciation (-) of the U.S. dollar 1/ vis-a-vis
End of calendar
year or month

Currencies of
OECD countries 2/

Currencies of 46 main
trading countries

1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982

-9.4
-14.6
-16.0
-10.9
-10.3
-14.6
-21.5
-18.4
-15.0
-3.4
+9.2

-4.9
-9.6
-9.6
-4.6
-1.0
-1.0
-4.1
+6.6
+21.3
+ 58.9
+141.2

19B2-July...
Aug
Sept...
Oct....

+10.3
+11.1
+12.8
+14.3
+12.4
+9.2
+11.7
+11.2
+13.6
+13.2
+14.4
+15.0
+17.1

+103.0
+111.6
+127.5
+132.2
+131.2
+141.2
+ 156.5
+182.7
+201.0
+215.1

Nov

Dec...
1983-Jan
Feb

Mar
Apr.

May
June p.
July p.

_1/

This table presents calculations of weighted average percentage changes in
the rates of exchange between the dollar and certain foreign currencies, in
order to provide a measure of changes in the dollar's general foreign
exchange value broader than a measure provided by any single exchange rate
change.
Calculations are provided for two sets of countries that account
for a major share of U.S. foreign trade.
U.S. bilateral trade patterns in
1972 are used as a convenient, readily available proxy for the assignment
of relative weights to individual exchange rate changes, although such
weights do not provide a full measure of individual currencies' relative
importance in U.S. international transactions because they take no account
of factors other than trade.
The calculations do not purport to represent
a guide to measuring the impact of exchange rate changes on U.S.
international transactions.

231.3
248.2
266.1

Equation two is used to calculate a trade-weighted average of changes in
the foreign exchange cost of dollars:
(E02)

^Z{Lf<:^|% ' X,/tX)

Where:

E- is the weighted average of percentage
changes 1n the foreign currency cost of
dol lars;

Afc^/$ is the percent change in the
foreign currency i cost of dollars; and
X^/EX is U.S. exports to country i, as
proportion of total U.S. exports to
countries in the set.

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

all

Equation three combines the above export-weighted and Import-weighted
averages to provide an overall measure of exchange rate change:
The equations used are as follows:
(EQ3)

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

E„,

t(4$/fCj

•

Where:

Mj/IM)

[(E^ * m/m+x)«(-l)]

[E, * x/m+x]

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

£_

is the weighted average of percentage
changes in the dollar cost of individual

x/m+x is U.S. exports as a proportion of
Us total trade with all countries in the
set.

foreign currencies;
a$/fCj is the percent change in the dollar
cost of foreign currency i
and

_2/

;

M^/EM Is U.S. Imports from country i, as
a proportion of total U.S. imports from
all countries In the set.

_3/

Australia, Austria. Belgium-Luxembourg, Canada, Denmark, Finland, France,
Germany, Greece, Iceland, Ireland, Italy, Japan, the Netherlands. New
Zealand. Norway, Portugal. Spain. Sweden, Switzerland, Turkey, and United
Kingdom.
The currencies of 46 IMF member countries which account for approximately
90 percent of U.S. total trade.

44
MOVEMENTS

CAPITAL
Background

Data relating to capital movements between the United States and foreign
countries have been collected in some form since 193B.
Reports are filed with
district Federal Reserve banks by banks, bank holding companies, securities
brokers and dealers, and nonbanking enterprises In the United States.
Statistics on the principal types of data by country or geographical area are then
consolidated and are published In the Treasury Bulletin.

The reporting forms and instructions 1/ used In the Treasury International Capital (TIC) Reporting System have "Been revised a number of times to
meet changing conditions and to increase the usefulness of the published
statistics.
The most recent, general revision of the report forms became
effective with the banking reports as of Apri 1 30, 1978, and with the
nonbanking reports as of December 31, 1978.
Revised forms and instructions
are developed with the cooperation of other Government agencies and the
Federal Reserve System and 1n consultations with representatives of banks
securities firms, and nonbanking enterprises.

provided of the liabilities of the respondents themselves from their custody
liabilities to foreigners; and foreign currency liabilities are only available
quarterly. Also, beginning April 1978, the data on liabilities were made more
complete by extending to securities brokers and dealers the requirement to
report certain of their own liabilities and all of their custody liabilities
to foreigners.
Section II presents the claims on foreigners reported by banks In the
United States.
Beginning with data reported as of the end of April 1978, a
distinction was made between banks' claims held for their own account and
claims held for thei r domestic customers.
The former are available In a
monthly series whereas the latter data are col lected on a quarterly basis
only.
Also, the distinction in reporting of long-term and short-term components of
banks' claims was discontinued.
Maturity data began to be
collected quarterly on a time remaining to maturity basis as opposed to the
historic original maturity classification.
Foreign currency claims are also
Beginning March 1981, this claims
collected only on a quarterly basis.
coverage was extended to certain items In the hands of brokers and dealers in
the United States.

Basic Definitions
The term "foreigner" as used in the Treasury reports covers all institutions and individuals domic i led outside the United States, 1ncl uding U.S.
citizens domiciled abroad, and the foreign branches, subsidiaries, and other
affll iates
abroad
of
U,S,
banks
and
business
concerns;
the
central
governments, central
banks,
and other official
Institutions of foreign
countries, wherever located; and International and regional organizations,
wherever located.
The term "foreigner" also Includes persons in the United
States to the extent that they are known by reporting Institutions to be
acting on behalf of foreigners.
In general, data are reported opposite the foreign country or geographarea in which the foreigner Is domic i led, as shown on the records of
reporting institutions.
For a number of reasons, the geographical breakdown
of the reported data may not in all cases reflect the ultimate ownership of
the assets.
Reporting institutions are not expected to go beyond the addresses shown on their records, and so may not be aware of the country of
domicile of the ultimate beneficiary.
Furthermore, U.S. liabilities arising
from deposits of dollars with foreign banks are reported in the Treasury
statistics as Uabi titles to foreign banks
whereas the 1 labil Ity of the
foreign b^nk receiving the deposit may be to foreign official Institutions or
to residents of another country.

ical

Data pertaining to branches or agencies of foreign official institutions
are reported opposite the country to which the official Institution belongs.
Data pertaining to International and regional organizations are reported
opposite the appropriate international or regional classification except for
the Bank for International Settlements which is included in the classification
"Other Europe."

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

Banks,

securities brokers and dealers, and in some Instances nonbanking
enterprises report monthly their transactions In securities with foreigners;
the applicable exemption level is $500,000 on the grand total of purchases and
on the grand total of sales during the month covered by the report.

Quarterly reports are filed by exporters, importers, industrial and commercial concerns, financial institutions other than banks and brokers, and
other nonbanking enterprises If their liabilities to, or claims on, unaffiliated foreigners exceed a speci f led exemption level on a two quarter-end
average basis.
Effective March 31, 1982, this exemption level was set at $10
mil 1 ion, up from $2 mi 1 1 ion,
Nonbanking enterprises also report for each
monthend their U.S. dol lar-denomlnated deposit and certificates of deposit
claims of $10 million or more on banks abroad.

Description of Statistics

Another important change in the claims reporting, beginning with new
quarterly data as of June 30, 1978, was the adoption of a broadened concept of
"foreign public borrower," which replaced the previous category of "foreign
official institution" to produce more meaningful information on lending to the
public sector of foreign countries.
The term "foreign public borrower" encompasses central governments and departments of central governments of foreign
countries and of their possessions; foreign central
banks, stabilization
funds, and exchange authorities; corporations and other agencies of central
governments, Including development banks, development institutions, and other
agencies which are majority-owned by the central government or its departments; State, provincial, and local governments of foreign countries and their
departments and agencies; and any International or regional organization or
subordinate or affi Hated agency thereof, created by treaty or convention
between sovereign states.
Section III includes supplementary statistics on U.S. banks' liabilities
and claims on. foreigners.
The supplementary data on banks' loans and
credits to nonbank foreigners combine selected Information from the TIC
reports with data from the monthly Federal Reserve 2502 reports submitted for
major foreign branches of U.S. banks. Other supplementary data on U.S. banks'
dollar liabilities to, and banks' own dol lar claims on, countries not regularly reported separately are available semiannually in the May and November
Issues of the Treasury Bulletin.
to.

Section
shows the liabilities to, and claims on,
unaffiliated
IV
foreigners by exporters, importers, Industrial
and commercial
concerns,
financial institutions other than banks and brokers, and other nonbanking
enterprises In the United States.
The data exclude the intercompany accounts
of nonbanking enterprises In the United States with thei r own branches and
(Such transsubsidiaries abroad or with thei r foreign parent companies.
actions are reported by business enterprises to the Department of Commerce on
The data also exclude claims held through banks
its direct investment forms.)
In the United States.
Beginning with data reported as of December 31, 1978,
there Is separation of the financial liabilities and claims of reporting
enterprises from thei r commercial 1 labi 1 ities and claims
and items are
col lected on a time-remaining basis Instead of the prior original maturity
basis.
;

Section V contains data on transactions in all types of long-term domestic and foreign securities by foreigners as reported by banks and brokers in
the United States (except nonmarketable U.S. Treasury notes, foreign series;
and nonmarketable U.S. Treasury bonds and notes, foreign currency series,
which are shown in the "International Financial Statistics" section, table
The data cover new issues of securities, transactions in outstanding
IFS-3).
They include transactions executed in
Issues, and redemptions of securities.
the United States for the account of foreigners, and transactions executed
abroad for the account of reporting institutions and their domestic customers.
The data include some transactions which are classified as direct
investments in the balance of payments accounts.
The geographical breakdown of the data on securities transactions shows
the country of domicile of the foreign buyers and sellers of the securities;
In the case of outstanding issues, this may differ from the country of the
original Issuer.
The gross figures contain some offsetting transactions
The net figures for total transactions represent transbetween foreigners.
actions by foreigners with U.S. residents; but the net figures for transactions of Individual countries and areas may include some transactions
between foreigners of different countries.
The data published in these sections do not cover all types of reported
capital movements between the United States and foreign countries.
The principal
exclusions are the intercompany capital transactions of nonbanking
business enterprises in the United States with their own branches and
subsidiaries abroad or with their foreign parent companies, and capital transConsol 1 dated data on all types of Interactions of the U. S. Government.
national capital transactions are published by the Department of Commerce in
Us regular reports on the U.S. balance of payments.

Section 1 presents data on liabilities to foreigners reported by banks,
brokers, and dealers in the United States.
Beginning April ig78, the following major changes were made 1n the reporting coverage: Amounts due to
banks' own foreign offices are reported separately; a previous distinction
between short-term and long-term liabilities was eliminated; a separation was

_1/

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

CAPITAL MOVEMENTS
Section

—

Liabilities to

Table

Foreigners Reported by Banks

CM-l-1. -

the United States

Total Liabilities by Type of Holder

[In mi

1 1

ons of do!

a r

Foreign countries

Internati ona
regional 2/

Memoranda
liabilities
Tota
to all f orei gners
reported by IBF s 4/
1

Official

institutions

Banks and other foreigners

End of

CAPITAL MOVEMENTS
Table

CM-l-2. -

Total Liabilities by Type, Payable

Dollars

Part A — Foreign Countries
[In millions of dollars]
Official

institutions

End of

calendar
year
or month

Total
f orei gn

countries
(1)

1979

Treasury
bills &
certifiTime 2/ cates

Deposi ts

Demand
(2)

(3)

(4)

Other foreigners

Banks

U.S.

Other
Deposi ts
liabillties 2/ Demand
Time
(5)

(6)

Treasury
bills S
certiflcates
(8)

Other
liaTo own
billforeign
ties 2/ offices
(9)

(10)

Deposi

t s

Treasury Other
1 ias S
certi f I- bil
cates
ties 2/
bi

Demand
(11)

Time
(12)

_2/

(13)

(14)

47
CAPITAL MOVEMENTS
Table

CM-l-3. -

Total Liabilities by Country

[Position at end of period

Calendar year
1981

Europe:
Austri a
Belgium -Luxembourg
Bui gari

535
4.357
116

Czechoslovakia
Denmark
Finland
France
German Democratic Republic.
Germany
Greece
Hungary

10.145
670
61

7,621
2,475
1.353

Italy

Netherlands
Norway
Poland
Portuga
Roman a

122

376

Spai

499
456
12,2 56

1.514
1.755
16.952
242

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

23,098
68

Europe

Total

Canada
Lat

Ameri ca and

Caribbean:

Argentina
Bahamas
Bermuda

2.191
16,442

Brazi I
Briti sh West

Indi es

Chile
Col ombi

Cuba

Ecuador
Guatema
Jamaica

Me X i c

Netherlands Anti
Panama

les

Peru

Trinidad and Tobago
Uruguay
Venezuela
Other Latin America
and Cari bbean
Tota

n Ameri ca
bbean

Lati

and Ca
Asi

China:
Ma

and

Taiwan
Hong Kong
India
Indonesi a

Israel

Japan
Korea
Lebanon
Ma

ay si

Paki Stan

Philippines
Singapore
Sy

Thailand
Oi -export! ng countries
Other Asi a
1

Tota
Af ri ca

_1^/

Egypt
Ghana
Li

beri

Morocco
South Af
2a

732
1.219
13.341
460
3.086

Oil-exporting countries

_2/

Other Af ri ca
Total

Africa

Other countries:
Aust rail a
Al 1 other
Total

other countries....

Total

foreign countries..

International and regional:
International
European regional
La tin American regional...
Asian regional
African regional
Middle Eastern regional...
Total i nternat ional
and regional

Grand tota

371
367
97

4.569
413
5,521
404
495

millions of dollars]

48
CAPITAL
Table

CM-1-4. -

Total

MOVEMENTS

Total Liabilities by Type and Country, as of June 30, 1983, Preliminary
Position in millions of dollarsj

liabilities

Liabilities payable 1n dollars
To foreign official

institutions and
unaffiliated foreign banks

Totals
Total Payable
in

Payable

dollars

foreign
currencies 1/

Liabilities to
other foreigners

Banks'
Custody
own lia- liabilbilities Ities

Liabilities to"
banks'
Deposits
ShortOther
own
term U.S. llabil- foreign Demand Tir
Ities
offices
Zj Treasury
obligations

Deposits

21
~~

Shortterm U.S.
Treasury
obligations

Other

Memorandum

Negoti-

llabH- able
ities

CD's
held
for all
for-

eigners

JSL
Europe:
Austria
Belgtum-Luseinbourg
Bulgaria

Czechoslovakia
Denmark
Finland
France
German Democratic Republic
Germany
Greece
Hungary
Italy
Netlierlands
Norway

634
2,830

618
449
6,905

616
447
6,751
119
3,395

122

3,628
569
136

6,655
3,415
1,728

Poland
Portugal
Romania
Spain
S»eden
Switzerland
Turkey
United Kingdom
U.S.S.R
Yugoslavia
Other Europe
Total Europe

643
3,030

366
78

1,615
1.494
30.251
195
50,923

53
350
78
1,613
1.493

29.965

200
2
*

355
1,759
74
15

130
262

155

4,478

279
1,071

108
199

486
185
2,273

54
144
451
66
509
70
126
396
216
230

"49
'14

116

233

2,046
476

1,349

2
-

36
176

3,646
1.752
1,104

'47
9

17
-

2
•

286

194

•

49,913

1,011

134

2,972
1,487
615

340
69
1,529
583
8,191
188
44.632
48
499
4,021

9
9

84
910
21,774

176
387

177

1.160

1.822

1,185

18
367
42

72
98

736
468
178
6

3,545
1,658

641
369

805

557

642

118

164

158
725
98
990

75
293

6.555

•

2,500

74
73

74
1.291

501

*
1

.120.060 117,914

2,146

75,068

42,846

5,151

372

12,778

3.497

265

138

3,935
48,216
1,415
2.583
23,454
1.319
1,662

827
860
616
140
310
37

521
46

5,823
275

271

•

Other Latin America
and Caribbean

3,283

4.762
49,076
2,031
2,723
23.764
1.356
1.724
13

262
148
10

693
1

3
•
*

1.243

7,010

500

236

514

4,524

13,156

25,920

24,928

39,113

1.351

2.770

1.728

6.218

138
45

612
5,409
531
92

557
174
93

390
2.583

448
3.022

284
39.829
67
684
14.142

567

695

8,429
3.194
5,159
1,137

593
300
488

42
411
32

•

342
906

201

8,508

117

282

3,209

175

295

1,848 114,871

4,498

2,167

16,152

1.064

3,270

26
20

121,217 119,369

164

496
293
40

299
2.450
1.897

402
100
149
160
218
133

950

72
175

9.159

60,064

56
12
1

1,328

"ainland
Taiwan
Hong Kong
India
Indonesia
Israel

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

Asia

Africa:
Egypt
Ghana
Liberia
Morocco
South Africa
Zaire
Other Africa
Total Africa

Other countries:
Australia
All other
Total other countries

Total

209
3.725
5.847
669

208
3.722
5,585
668

international
ana regional

197

1.480
5,213

2.242
373
469

311
214
66
96
75
510
124
66
45
69
186
111
19
75

424
79

24
35
157
494
273

554

1
-

199
397

835
17.343

835

•

343

1,324
203
356
398

17,001
1.322
202
356
394

644
8,938
876
200

818
7.203

818
7.199

•

38
696
12,361

695
12,330

423
4.869

272
7.461

52,579

51,928

651

26,675

25,254

2.711

3.050

462

432

29
*

154
13

144

461
36

219

54
364

•
-

106

203
782
2,112

36
'124

•53

355

157

190

8,063
446
3

251
191
36

5.087

668

2.140
285
408
34

7,318
322

12
4
4

245
176
9

32
222

5,068

•

261

1.232 3/6,076

22.339

2
2

•

95
1

27
113

j/363

34
2

371

629

25
117

321
57

1.511

1.505

1.134

2,705

2,689

2,156

533

953

307

5,418
159

5.406
158

5,058
6

36
23

348
153

5.576

5.564

501

5,063

4,995

81.691 11,305

34.059

57,480

103
30
8

2,367
80

1,538

•

foreign countries.. 318,784 313,740

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

262

5,044 232,049

392

4,995
'__

4,747
123

4,747

2,831
114

1.916

123

471

426

443
82

26
26

5.484

5.456

3.048

2.408

164

2.480

1.538

84.098 11.470

36.539

59.018

Total

Grand total

324.268 319.196

5.072 235.098

2.458
393
572

693
374

123
241
35
47

751

1.025
10
343
595
59

413

Asia:
Cti

269
40
46
205
45
128
165

Total

11.301

8.625

161

97
13
27

2.950

29
107

307
32
18
21

75
113
132

8.030

580
70S
130
9,022
3.494
5.647
1,148
343
954

-129

793
13.641

6,521

Latin America and Caribbean:
Argentina
4.900
Bahamas
49,339
Bermuda
2,179
Brazil
2.733
British West Indies
24.457
Chile
1.357
Colombia
1.727
Cuba
13
Ecuador
581
Guatemala
705
Jamaica
130
Mexico
9.329
Netherlands Antilles
3,526
Panama
5.665
Peru
1,169
Trinidad and Tobago
344
Uruguay
954
Venezuela
8,826

235

502

141
15

267
213

143
40

103

277

51
*

5,280

113)

1,723

(1?)

648

480

Oil.

1,949

6.522

16.275

192
1.236
24

20
58

16.647

119
58

1,081

Canada

Latin America
and Caribbean

567

135
6.619
3,239
1,719

JlOi

651
72
118
35

6.324
362
2,447
549

45
542

576
5.230

290

(11)

I'M

Section

II.

- Claims

MOVEMENTS

CAPITAL

on Foreigners Reported by Banks

Table CM-ll-1.

the United States

Total Claims by Type

[Position at end of period in millions of dollars]
Calendar
year
1980

1981

Sept.r

1982

Deer

Mar.r

June

Sept.r

Type of claim

claims

203,866

251,198

293,276

326,458

366,566

386,694

198,698

247,073

287,325

320,214

358,750

379,838

172,592
20,882

211,369
25,269

251,356
31,302

278,774
34,294

317,756
40,192

342,458
42,742

8,254
41,914
65,084
36,459

13,938
45,473
88,439
38,259

23,276
51,132
96,647
48,999

29,405
59,309
101.839
53,927

38,032
65,658
115,408
58,467

42,494
71,098
126,561
59,673

26,106
885

35,704
992

35,968
1,378

41,440

40,994

1,337

1,174

37,380
1,015

15,574
9,648

25,297
9,416

26,352
8,238

32,672
7.431

32,500
7,320

29,248
7,117

5,168
4,206

4,125
3,876

5,951
4,980

6,244
5,300

6,816
5,895

6,856
6,350

962

248

971

944

921

506

63,401
62,170

1,231

91,847
89,464
2,393

118,284
115,303
2,981

133.317
130,190
3,127

Customer liability on acceptances

22,714

27.640

29,517

30,463

33,007

36,279

Claims with remaining
maturity of 1 year or less:
On foreign public borrowers
On all other unaffiliated
foreigners

10,730

12,697

15,652

17,364

20,116

20,766

72,585

82,715

101,027

117,996

133,271

143.608

10,152

12,562

15,650

16,930

20,077

21,977

14,956

22,380

24,646

28,885

29,657

Total

Payable in dollars
Banks' own claims on foreigners...
Foreign public borrowers
Unaffiliated foreign banks:

Deposits
Other
Own foreign offices
All

other foreigners

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

Payable in foreign currencies
Banks' own claims on foreigners...
Claims of banks' domestic
customers

Memoranda
Claims reported by IBP'sJ^/
Payable in dollars
Payable in foreign currencies

Claims with remaining
maturity of more than 1 year:
On foreign public borrowers
On all other unaffiliated
foreigners

14,041

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

406,

50
CAPITAL
Table CM-lt-2.

MOVEMENTS

Total Claims by Country
[Position at end of period in millions of dollars]
Cal

endar

yea r
1981

Sept .r

Europe:

Austria

206

Belgi um-Luxembourg
Bui gari a

Czechoslovakia
Denmark
Finland
France
German Democratic
Germany
Greece
Hungary

Re public

Italy
Netherlands
Norway
Poland
Portuga
Romanl
Spai

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

Total

Canada

Latin America and Caribbean:
Argentina
Bahamas
Bermuda
Brazi
British West Indies
Chile
Colombia
Cuba
Ecuador
Guatemal a
Jama1 ca
Mexico
Netherlands Antilles
Panama
Peru
Trinidad and Tobago
Uruguay
Venezuela
Ot her Lat n Amer1 ca
and Caribbean
I

Tot

a
Lat n Ameri ca
and Caribbean
1

Asi a
Chi na:
Mai nl and
:

Taiwan
Hong Kong
India
Indonesia
Israel
Japan
Korea
Lebanon

Hal aysi a

Paki Stan

Philippines
Singapore
Syri
Thai

a
1

and

-export ng countries
Other Asia
01

Total
Af r1 ca

I/.

Egypt
Ghana
Li

beri

Morocco
South Africa
Zai re

-export ng count
Other Africa
01

Total

es _2/.

Af ri ca

Other count ri es
Australia
Al
other

Total

other countries

Total

foreign countries...

International and regional:
International
European regional
Latin American regional.,,,
As Ian regional
African regional
Middle Eastern regional....
Total 1 nternat 1 onal
and regional

Grand total

Sept

CAPITAL MOVEMENTS
Table CM-ll-3.

Total Claims on Foreigners by Type and Country
Reported
in the United States, as of Mar.
31, 1983
[Position at end of period In millions of dollars]

by Banks

CI aims of banks'
domest c customers

Reporting banks' own claims

Meinorandum
CI a

Count ry
Total
cl alms

Total
banks
own
c

Czechoslovakia
Denmark
Finland
France
German Democratic Republic
Germany
Greece
Honga ry
Italy
Netherlands
Norway
Poland
Portugal
Romania
Spai

n
,

Sweden
Switzerland
Turkey
Unl ted Kingdom
U.S.S.R
Vugoslavl a
Other Europe
Total

39
2

1.181
1.140
9,134
111
2.372
739
822
8.185
1.992
559
498
840

1.154
1.079
7,630

1,101
960

6,593

624

402
2

835

320

278
293

234
83

2.948
2.405
1.084

364

119.065

91.807

Hai nland

Taiwan
Hong Kong
a

Indonesl a
Israel
Japan
Korea
Lebanon
Ma 1 ays i a
Paki Stan
Phi 1 ppl nes
i

S 1 n g a p'o r e
Sy r i a

Africa:
Egypt
Ghana
Li

beri

799
409
.365

Morocco
South Africa
Zai re

Other Af r1 ca
Total

Af ri ca

Other countr i es
Australia
Al 1 other

Total

other countries

Total

foreign countries...

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

nternat ona
and regional
1

Grand tota

54 3

115
30

477
819

108

2
3

96
61

27
61

1,514

1,507

665

629
210

112

6.512
1,419

3,193
2,430
1,827
610
50,341
342
1,398
339

Total Lat n Amerl ca
and Ca n bbean

546
481

825

218
974
638
775

106

Netherlands Antilles
Panama
Peru
Trinidad and Tobago
Uruguay
Venezuela
Other Latin America
and Caribbean

Tota

221

2.130
655
821
7.479
1.772

3.426
2.823
1.996
628
73,483
498
1.484

Indies

Thai land
Other Asi

(8)

319

518

1,397
69
62

705
220

361
13
18

109

1,020
1.316

233
393
170

173

591

73
16
159
14

30,319

18,391

1.631

1.150

23.143

23.122

305
1,162
271

156
86

155

65.214

584

231
51

22,

3.710

27.258

ars

35
87

Jamai ca
Mexi CO

Indi

(6)

254

(5)

ool

4,638

Colombia
Cuba
Ecuador
Guatemala

(4)

Total

37
87

Chi le

Asi a
Ch

(3)

Payable
Payabi

ances

294

British West

offices

Customer
iabi nty
on accept-

6.030

Latin Am erica and Caribbean:

Brazi

claims
payabi e
in foreign
currencl es

39
90

Canada

Argentina
Bahamas
Bermuda

lated
f orei gners
1

Total

own
f Orel gn
On

302
6.143

Europe

unaf f

U)
Europe:
Austria
Belgi urn -Luxembourg
Bulgaria

foreign public
borrowers and

231
393
149

foreign
currenci es

52
CAPITAL MOVEMENTS
Section

III.

— Supplementary

Liabilities

and Claims Data Reported by Banks

the United States

Table CM-lll-1. - Dollar Claims on Nonbank Foreigners
[PosHlon at end of period 1n millions of dollars]
Dollar claims of U.S. offices
Dol a r claims of
U.S. -based banks'
major foreign
branches ZJ
1

dollar
claims on nonbank foreigners

U.S. agencies

Total

End of calendar

year or month

(1)

1979
1980
1981
1982

1982-May r
June r
July r
Aug.
Sept.
Oct.
Nov.
Dec.

1983-Jan.
Feb
Mar
Apr.
Nay

_!_/

r
r
r

p
p

U.S. -based

banks
(2)

and branches of
foreign banks \J
(3)

(4)

116,809
136,912
165,730
187,315

23,824
28,751
43,656
64,517

21,651
28.653
36,645
43,002

71,334
79,508
85,429
79.796

176,022
178,528
180,177
181,336
182,507
183,429
183,966
187,315
187,772
187,656
187,208
188,259
188,647

54,987
57,158
58,910
59,092
60,173
61,637
62,280
64,517
65,039
64,523
65,735
66,144
66,337

40,732
41,500
41,560
41,788
42,142
41,376
41,259
43,002
42,591
42,830
42,128
42,041
42,272

80,303
79,870
79,707
80.456
80,192
80,416
80,427
79,796
80,142
80,303
79,345
80,074
80,038

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

CAPITAL MOVEMENTS
Section

IV.

Liabilities to,

and Claims on, Foreigners Reported by Nonbanking Business Enterprises
Table CM-IV-1. - Total Liabilities and Claims by Type

the United States

[Position at end of period In millions of dollars]
Calendar year
1980r
Type of liability or claim

Total

liabilities

Payable 1n dollars
Financial
Commerc a
Trade payables
Advance receipts and other.
1

Payable In foreign currencies,.
Financial
Commerci a
Trade payables
Advance receipts and other.
1

Total

claims

Payable in dollars
F1 nanci al
Deposits
Other
Commerci a
Trade receivables
Advance payments and other.
1

Payable 1n foreign currencies..
Fi

nanci

Deposits
Other
Commerc la):
Trade receivables
Advance payments and other.

17,433

198?

1981r

Mar.

June

1983
Sept.

Dec.

Mar.

CAPITAL
Table

CM-IV-2. -

MOVEMENTS
Total Liabilities by Country

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

endar year

Country
1979

Mar,

CAPITAL
Table

CM-IV-3. -

__^

Total

Liabilities by

MOVEMENTS

Type and Country, as of Mar. 31, 1983, Preliminary

[Position at end of period In millions of dollars]
Financial
abi
1

Total

Commerci a
iabi ities
1

a b

Count ry

Payabl
in
(1)

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

dollars

(2)

Payable
in foreign
currenc es
i

(4)

(5)

Total

20
448

401

19
42

20
47

1,255

679

447

926

487

327

3
*

233

576

160

439

475
1,035

684

647

58
53
93
91

445
350

60
53
128
92

35
2

992

620

167

463

372
25

464

660

3,706
3

18
28

Europe

16
20

9,472

Canada

1,454

Latin America and Caribbean:

Argentina
Bahamas
Bermuda
Brazi

110
807
135
,,'_[
"1

British West

Indies

Chi le

Colombia
Cuba
Ecuador
Guatemala
Jamaica
Mexi CO

803

774

18
39

117

996
62
109

991

985

16
17

Netherlands Antilles
Panama
Peru
Trinidad and Tobago
Uruguay
Venezuela
Other Latin America and Caribbean._
Total Latin America and Caribbean_
Asi

503
191
154

149
176
117

149
174

16
121
63

16
121

302
92

51
4

53
72
3

20
4
3

364
1

16
37
49
4

181
29

China;

Mainland
Ta

Hong Kong
India

Indonesia
Israel

Japan
Korea
Lebanon
Ma

Syria

Asia

Africa:
Egypt
Ghana
Liberia
Morocco
South Africa
Zaire
Other Africa

]

203
108

622

278

1,1 58

227
5

66
10
72

290

66
10

68
207
3

2,887

2,817

6,208

5.342

82
1

15
217

15
15
1

202

Africa

296
52

Total

other countries

Total

foreign countries

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

international

Grand total
*

170
150

Other countries:
Australia
Al
other

Total

Thailand
Other Asia

Total

84
3

Pakistan
Philippines
Singapore

Total

84
173
219
38
205
117
1.780
227

Less than $500,000.

288
46

22,369

250

and regional.

8,330

1,964

56
CAPITAL

CM-IV-4. -

Table

[Position at end
Cal

Total Claims by Country

period In millions of dollars]

of,

endar yea

MOVEMENTS

Country

Europe;
Austria

Belgium-Luxembourg
Bulgaria
Czechoslovalcia
Denmark
Finland
France
German Democratic Republic
Germany
Greece
Hungary
Italy

Netherlands
Norway
Poland
Portugal
Romani
Spai

Turttey

United Kingdom
U.S.S.R
Yugosl avia
Other Europe
Europe

Total

58
378

49
277

30
262

38
224

194

15
160

6
9

65
97
1.061

68
1,073

26
89

904

63
79
1,427

13
46
50

16
45
90
576

1.001
125

829

784
104

651
103

60
43
787
10
909
103

75
49

Sept.

949
20
542
140

164
951

Mar.

602

197

600
160

524
50

541
91

500
370

769

780
369

870
353
137

414
353
127

445
363
95

52
69
21

86
13

379
330
127
43
62

464
378

97
29
96
25

361
306
150
49
72

424
208
407

462
230
485

245
165
407

262
206
448

351
77
25
87
22

432
191

346

252
219
318

111
36
67
12

251
131

446

75
12

226
126
30S

,865
128

6,000

5,916
63

4,491

4,609
100

,698

4,784

4,737

5,969

56
79

64
120

83
40

9.443

150
96
60

9.208

11,101

Canada

235

398
175
297

Sweden
Switzerland

1980

38
191

74
21
85
22

1979

5.643

114
45

67
69
48

11,613

9.872

75
38

8.885

,932

5,949

8.892

8,410

4.988

4.834

144

140
3,248
267
320
2,691

Latin America and Caribbean:

Argentina
Bahamas
Bermuda
Brazi

British West Indies
Chile
Colombia
Cuba

Ecuador
Guatemala
Jamaica
Mexi CO

114
3,111
295
779
1,300

183
2.794
227
808
2,027

197
123

223
3,937

191
172

289
3.498
243
957
2,789
145
139

44
92

667
42
499

Netherlands Antilles
Panama
Peru
Trinidad and Tobago
Uruguay
Venezuela
Other Latin America
and Ca ri bbean

75
27

85
865
70
605

81
42
10

448

486

122
167

3.617
239
466
2.820
95
138

160
3,875
268
499
3,515
100
156

106
67
112
1,311
121
599
119
43
22

123

113
50
87

110

107
49
86
1.137

105
42
83
1,216

106
43
83
1.042
48
190
91
28
10

506

490

442

241
698

3,514

92
1.335
108
304
112
39
18
572

189

1,043
107
300
104
45

88
1.024
90
114
115

36
14

527

518

3.385
174
557

3.178
85
143

236
96
36

78
180

357

Total Latin America
and Ca r1 bbean
Asi a
Ch

na:

Mainland
Taiwan

20
265
136
128
213
318
1,311
404
20
35

Hong Kong
India
Indonesi a
Israel
Japan
Korea
Lebanon
Mai aysi

Pakistan
Philippines
Singapore
Sy

Thailand
01 -export ng countries
Other Asia
1

Total

_!_/

beri

Zai re

-export i ng countries 2/
Other Africa
1

Total

28
69
14

129
174
9

845

938

78
839

45
805

147

207
67

152
117

10
35
781
56

7 7

4.130

4.707

3.867

149

109
32
181
14
179

132

136

50
793
43

130

179
232

29
85
12
111
111

16
146
159

281
172
63
195
263

272
1.540
276

241
88

109

293
168

241

234
143

223
1.422
278

18
47
30

36
731
40

60
256
182
78
457
230
1,610
301
20
123

73
188

24
50
29

47
a

177
132

352
210
1.242
342

4.052

Morocco
South Africa
01

88
286
239

62
274

1.376
320

Africa:
Egypt
Ghana
Li

265
183

242

35
13

184
15
198
371

103
164

33
72
15
102

228

763
83

3.756
150

31
13

153
186
234

147
20
179
240

1.215
266

198
175
67
195
259
1.225
265
23
36
18
107
242

141

125

48
10
132

29
32
137
12
188

199
257

222

Other countries:
Australia
Al
other
1

Total

other countries....

Total

foreign countries..

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

Grand total

120

103

100

93
14

255
3,687
1S2
451
2.877
83
178

296
91
23
13

CAPITAL
Table

CM-IV-5. -

MOVEMENTS

Total Claims by Type and Country, as of Mar. 31, 1983

[Posttlon at end of period in miTMons of dollars]
Financial claims
Total
Total
aims

Country

(1)

Europe
Austri

financial
c
aims
1

(2)

Denomi nated
in

dollars
(3)

Denomi nated
in foreign
correnci es
(4)

Commerci
claims
(5)

Be Igitim -Luxembourg
Bulgaria
Czechoslovakia
Denmark
Finland
France
German Democratic Republic...
Germany
Greece
Hungary
,

Italy

Netherlands
Norway
Poland
Portugal
Romani

Spai n

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

18
197

140

16
4S
90
576

15
44
73

486

541

127

414
89

73
55
40

60
49
40

226
126
308

10
54
B2

54
49

34
,969

5,221

445
363
95

372

307
55
41
34
12

41
75
12

215
73

227
34

748

83
40

Europe

Canada
Latin America and Caribbean:
Argentina
Bahama s
Bermuda
Brazi
British West Indies
Chile
1

Col ombi

255
3,687
182
451
2,877
83
178

Cuba
Ecuador
Guatemal
Jamaica

Mexico
Netherlands Antilles
Panama

105
42
83
1,216

2,855

2,779

41
11

65
350

352
9

177
47

Latin America and Caribbean

10.474

442
382

Total

160
3,647

10
50

298

Peru
Trinidad and Tobago
Uruguay
Venezuela
Other Latin America and Caribbean,

Asi

160
3,657

91
23
13

156
19?

115
182

7,680

China:

Mainland
Taiwan
Hong Kong
Indi

Indonesia
Israel
Japan
Korea
Lebanon
Ma

aysi

Pakistan
Philippines
Singapore
Syria
Thailand
Other As la
Total
Af

Asia

43
186
207
75
254
268
1,348
231
23
45

39
187

187
179

233
100

100

87
173
6

796

3.820

Egypt
Ghana
Liberia
Morocco
South Africa
Zai re

Other Africa
Total

29
12
149
12
393

2
*

121

106

Africa

Other countri es

Australia
All other
Total

other countries

Total

foreign countries

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

lOG
14

international and regional

Grand total

29,970

16,974

41
10

58
CAPITAL
Section

Transactions in Long-Term Securities by Foreigners Reported by Banks and Brokers in the United States
Table CM-V-1. - Foreign Purchases and Sales of Long-Term Domestic Securities by Type

[In millions of dollars;

negative figures Indicate net sales by foreigners or

Marketable Treasury bonds and notes
Net

foreign purchases

Forei gn countr es
1

Cal

endar

MOVEMENTS

net outflow of capital

U.S. Gov't corporations
and federally sponsored
a genci es

from the Un^ted States]

Corporate and other securities
Bonds

Stock

59
CAPITAL MOVEMENTS

[

Table CM-V-3. - Net Foreign Transactions in
Long-Term Domestic Securities by Type and Country
.nitons Of dolUrs; ne,.M,e fiTures indicate net sal » by
foreHners or a ret outflo. of capital

froi.

Marketable Treasury
bonds and notes

U.S. Gov't corporations
and rederal agency bonds

1983

Calendar Jan.

Eu rope

1983

Apr.

Calendar Jan.

.._

-'!

Si::if!:!"!!^:!;:::::::
°"'"«'''<

Hungary

558

-138
'''

]

..:...:

Italy

763

JouJi::::;:;:::;:;:

Portugal
Romania
Spain
Sweden

'""
"""'

;

.,]i

:^?

.-,i

.-;

^03

-42

.\\l

-2

•

»'

->!

-J

-1

-lo

-"9

-1

-^"

-'"

-^^

,g1

4^0°

3^?

-5^,'

,.^A

73J

''"!

-"!

-^'«

3.135

..53;

33I

L^i

-.1^

-6

-48

-B

-"3

3*3

7.609

5.447

1.897

-265

-497

2.346

534

540

2.603

°'

»9

248

-3

•

-3

221

„

I
9

\l
44

"*
-40

""
-8

'•''""""-

,0
S
'

60
.

,7
59
*'

"i'

,\
12

•

-h

-15
-58

-61

;

41
.1

-98

llfi

•

-6
157

.3
-3
80

-111

Asia:
China:

-j

2°

-2

•

-1

„
9

-11
,

,
3

._3

'^
-

297

-']

412

141

"°

'im

-4

Ibo

-7/

4
1

^•""pp'"'^

-J

-"!

-':

''''!

-'!^

-''I

-''i

356

249

-112

-54

Uru'::':::::::::::::::::

'''H

"831

Africa:
Egypt
Ghana
Liberia
Morocco
South Africa
Zaire

>«

-2

.
i

Oil-exporting countries 2/
Other Africa
7.

"'°

-".

'"2

,
2

-"^

-='

•

-"I

!
•

-i

-'j

'°

-"]

III

;

-"l

-659

-298

-227

-i4

-^86

-459

613

'
'

~
~

745

**
'*

•

-1

.15

•

-"1

-1

-15

-3

-2

-'A

]

-6

368

5.346

2.426

-3 29

.501

-70

1.813

329

345

giF
—

Total

other countries....

Total

foreign count r1 es

.~8
.

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

VM\.\\\\ lr;r-lran.

'';

..^
.;" '""
IT*
... •'*
[

^Voilll:::::::::::::::::

^°^*'

TTJT'
=^^=^^=^^==^^=^=^=^=^=^^=^=^=^^=^=^=
-186

Other countries:

*^'"'"*'

«'

'•

"''"

International
feglo^al

".***S*
I

-552

——

...

•

.Ill

''"

-'^

-'!

Lebanon
"alaysia
Pakistan

Ko?"::;:;;::;:::;;;;;;;;;

-4
-23
127
46
30
304
270
2 10
—=^^^==^=^^==^=^=^=^^==^=^^=^^=:

.2..

!""'

31
;

'II'

Indonesia

'J
/

Hal nl and

Sa^::?:;:;;:;;:::;;:;:;

latin America

-3

127

^
o

313

;

•

131

~7^

3.875

3.840

^^\
l

1.204

"'
"'1 '•-^31
i*'
--. ._
-"I

--15
--..
-

346

]

1.452

117

;

3*5
1

611

_.• C"» I*^

•

'""""'"

'""^

3.603^

cSJa:?::::;:;;:::;;:;:;:;;
Ecuador
Guatemala
Jamaica
Mexico

Total

"'"
_

Peru
..:.:.........:
Trinidad and Tobago
Uruguay
Venezuela
Other Latin America
and Caribbean

-15

-'w

^"''

58
•*
..-__

""
-?

__^,

gi!irT;i!:!"ir!:!!;"^!
^°'" "'"

.,8

'""

Apr

a;f:!^r!!^r"^••••

Total

Calendar Jan.

---._••*

Latin America and Caribbean;
Argentina
Bahamas
Bermuda
Brazil...

19B3

Apr.

-6
"«

'"""'

Calendar Jan.

496

Yugoslavia
"'"^^ ="""'

Corporate stocks

---2
;"
4,;
"
...
""; ...
.';
(ij^

S^s!"*'!"!!!:::::::::::::

377
-16

Netherlands

'ulllV:.T.:

^Jf

'.'?

f'"'*""
G;r:an"i;«;;;a-U-c-;ep;M-i-c

-"l

the United Stat.

1983

Apr.

Czechoslovakia

Corporate bonds

1.186

406

-14

398

132

-40

-8o

*•

83
bj

fli
aj

?R
28

—

-MOO

1.584

539

-29

-40

-7

1^26?

6.930

2.965

-358

-541

-110

1.814

322

349

3.959

3,926

1.233

,ra,. Ku.ait. Oman.

Oatar.

Saudi

f-^lSjs'JjglJta^nSji:^;^^:!^^^^ J ^;;n!

"""'

60
CAPITAL
Table

CM-V—4. -

MOVEMENTS

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

[In ml

Ions of dol

and Country, During Second Quarter 1983, Preliminary

ars]
Gross sales by foreigners

Gross purchases by foreigners

Domestic securities

Country

Domestic securities

MarketBonds
able
Treas- of U.S.
ury j
Gov't
Federal Corp.
Financ- and fed- Corporate
Ing
erally
i other
sponTotal
Bank
purbonds & sored
agencies Bonds Stocks
chases notes
(1)

(2)

Europe:
Austria

Belgium-Luxembourg..,.

(4)

(3)

(5)

Marketable
Bonds
Treas- of U.S.
ury X
Gov't
Federal Corp.
Financ- and fed-

Forel gn

securities

Bonds Stocks
(')

(6)

(8)

(10)

(9)

608

1,510

Corporate
& other
sponsored
agencies Bonds Stocks

eral ly

Bank
Total bonds
sales notes

(U)

(12)

Bui garia

Czechoslovakia
Denmark
Finland
France
German Democratic Repu
Germany
*....
Greece
Hungary
Italy
Netherl ands
Norway
Pol and
Portuga

473
853
2,289

455
829
613

2,979

925

2
4

6
7

112

1,205

235

350
1,003
2.273

845

2
3

120

441

107

1,190

180

2,541

941

371

958

2,174
1,007

1,261
434

627

1,236
32

2,032
1,386

,317

349

470

29
19

28
484

487

Romania
Spal

Sweden
Switzerland

133

6,174

526

28
24

13
58

33
25

4,276

316

23
357

439
5,062

693

265

3,542

762

4,011

3,879

680

16.216

5,632

629

3.680

Tu rkey

United K1 ngdom
U.S.S.R
Vugosl avia
Other Europe
Europe

Total

Canada
Latin America and Caribb
Argent 1 na
Bahamas
Bermuda
Brazi
British kest Indies...
1

Chi le

Colombia
Cuba
Ecuador
Guatemal
Jamaica

Mexico
Netherlands Antilles..
Panama
Peru
Trinidad and Tobago...
Uruguay
Venezuel a
Other Latin America
and Caribbean
Latin America
and Caribbean

Total

Asia:
China:

Mainland
Taiwan
Hong Kong
India
Indonesia
Israel

Japan
Korea
Lebanon
Mai ays

Paki Stan
Phi 1 Ippi nes
SI

ngapore

Thailand
Other Asl
Total As la

Africa:
Egypt.

Forel gn
secur Itles

Bonds Stocks
(13)

(14)

.61

CAPITAL MOVEMENTS
Table

CM-V-S.- Foreign

Purchases and Sales of Long-Term Securities, by Type and Country, During Calendar Year 1982
[In wintons of dollars]
Gross purchases by foreigners

Gross sales by foreigners

Domestic securities
Marketable
Bonds
Treas- of U.S.
ury S
Gov't
Federal corp.
Financ- and fed. Corporate
Ing
erally
j other
Total
Sank
spunpurbonds A sored
chases notes
agencies Bonds Stocks

Country

(l)r

Europe:
Austria

Belgium-Luxembourg
Bulgaria
Czechoslovakia
Denmark
Finland
France
German Democratic Republic
Germany
Greece
Hungary
Italy

Netherlands
Norxay
Poland
Portugal
Romania
Spain
S»eden
Switzerland
Turkey
united Kingdom
U.S.S.R
Yugoslavia
Other Europ
Total Europe

Canada

America and Caribbean:
Argentina
Bahamas
Bermuda
Brazil
British West Indies
Chile
Colombia
Cuba
Ecuador
Guatemala
Jamaica
Mexico
Netherlands Antilles
Panama
Peru
Trinidad and Tobago
Uruguay
Venezuela
Ot her Latin Amerl ca
and Caribbean

Total Latin America
and Caribbean

Mainland
Ta1»an
Hong Kong
India
Indonesia
Israel
Japan
Korea
Lebanon

Malaysia
Pakistan
Philippines
Singapore
Syria
Thailand
Other Asia
Total Asia
Africa:
Egypt
Ghana
Liberia
Morocco
South Africa
Zaire
Other Africa

Africa

Other countries:
Australia
All other

1,982

125

207
548
1,477

•

16,181
148
*

145
5,432
1,494

Foreign
securl ties
Bonds Stocks
(6)r

g7
748

(10)r

(g)

•_
.21

(13)r

(14)r

227

4.374

2.078

22
297

105

809

1.073

104

69
67

906

2.439

1.038

293

6.091

465
1.066

16
10

•

253
703

21
52

146

603

100
2,581

119
1,304

508

9,778

386

3,256

1.857

670

234

8,387

4.452

155

1,370

1,525

601

284

29
153
197

274

3.907
493

•

149

1,014

170

159

132

169

4,798
1,016

3,144

738

234

483

95
1,074
82

•

163

119

776

88
6,820

35
316

1.038
10.638

487
1.723

20
578

7,349

24
351
534

5
*

123
100
1.024

108
391

3,025 10,950 12.660

1.700

49.834 18.689

4.605

2.868

7.814 13.939

1.919

190

6,044 22,049 18.466

3.671

4,799

1,443

•_
•_
6i_

•

2,417

50,732

18,529

3,867

865

438

223

105

98.280

40,412

5,122

8,389 24.652 16,832

2,873

88,421 32,804

10,897

1.160

2,362

1.496

12.926

511

675

5.128

915
3,713

153

963

350

411
1,418

255
909

1.227

334

454

170

210

•

5
•

•

174

16
15

70
187
49

132

988
274

168
98
186

2
1

•

13
84

15
97

•

609
2.284
630

199
967
110

124
33
307

•

_____
••31*
*12**
-•71'
1287'

•

621

252

691
3,289
105
977
20
86

574
2.303

534

4,907

2
4

305

385
1,291

114

903
1

433

•

17
13

199
866
90

•
*
*

78
150
55

873
280

42
25
362

11
1

209

•

;

2.973

117

841

3,930

2.049

370

9,187

2.633

•-

46
117

693
48
50

5
7

20
93
14

-....
.»2**
-*3**
-•3«*
-482*
3

•

223

--•--

674

-233-

5,387

1,071

10,280

13
141
16

•

213
748
11.377

•

Bonds Stocks

{ll)r (12)r

Foreign
securities

._•*,
.--_.
-_11*
-_2-__•-_
__•-_
-321*
._!_•

232

•

140
383

18
31

101

14
73

140

714

3,626

1,702

5_
428

__•_-

100

•

4.198

1.939

120

898

1.111

3.765

1,538

106

813

1,136

114

25
14

•

13
19

3
9

•

1,465
15.552

1,140
6.791

1,631

•

15
541

266

516

996

5.057

996

5.694

264

•

•
*

41
50

•

174
30

599

109

844
5,994
222

•

155

118

•

326

215
6.979

139
5.121

235
5.270

227

92
85

4
6

7,322

15
67

66
48

19,151

9.255

2.355

1,554

5.152

796

46,482 23,162

2.625

2,296

7,150

8,441

2,809

•

232
1,927

26.095
55.302

16.807

2,204

955

5,522

576

33.993

2,513

1,637

7.762

7,080

2,316

2
•

•

15,864

.-i-*
l_••_.
-•1_>44•_
-•2''
4-••-_
•_
_-•_- •_
*--11-

•

210
2,408

--i_«
-••••
-'lia_-3**
__•-_-*•*
_-•_.
2

635

560

155

734

561

51_

377
367

49
159

•

226

•

402

605
312

40
182

144

151

917

155

106

553

7,163 158,667 60.386

8,148

21.790 17.340
205

2.304

208

Total

foreign countries..

175.658

78,754

7.819 11,549 41,776 28,597

19,510

15,889

2,290

251
74

1,346

1,284

Grand total

(8)r

Gov't
Corp.
and fedCorporate
erally
i other
sponsored
agencies Bonds Stocks

Less than SSOO.OOO.

ury S
Federal
Financ1ng
Bank
Total bonds j
sales notes

533

other countries..,.

Total International
and regional

(7]r

_____
_....
--1_*
__••_
.-••--*_•
-336'
_.i-*

262
3.477

319
673
6,172

(5)r

Barketable
Bonds
Treas- of U.S.

Total

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

•

(4)r

(3)

(?)

Asia:
China:

Total

Domestic securities

21,182

17,188

196,840

95,942

255

237

130

222

945
250

_,._53
52

2,295

256

140

1,070

938

18,288

2.324

7,165 182,057 78,675

10,472

;;

1,301

23,391

1,831
205
296
123

8,496_
13

__._.

326

10,114 11,805 41,916 29,698

255

9,735 37,901 34,000

2.456

9,991 37,956 36,455

8,506

255

FOREIGN CURRENCY POSITIONS
Background

"Majority-owned foreign partnerships" are those organized under the laws
foreign country in which one or more nonbanking concerns or nonprofit
a
institutions In the United States, directly or indirectly, own more than 50
percent profit interest.
"Majority-owned foreign subsidiaries" are foreign
corporations in which one or more nonbanking business concerns or nonprofit
institutions located in the United States, directly or indirectly, own stock
with more than 50 percent of the total combined voting power of all classes of
stock entitled to vote, or more than 50 percent of the total value of all
classes of stock.
of

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

Common Definitions and Concept s
The term "United States" means the States of the United States, the
District of Columbia, the Commonwealth of Puerto Rico, American Samoa, Midway
Isl and,
the Virgin Islands, and Wake Island.
The term "foreign" means
locations other than the "United States."
The term "worldwide" is used to
describe the sun of "United States" and "foreign" data.
Data for the United States Include amounts reported by sole propri etorshlps, partnerships, and corporations in the United States including the
U.S. branches and subsidiaries of foreign nonbanking concerns, 1n the case of
"nonbanking firms' positions." and the agencies, branches, and subsidiaries
located in the United States of foreign banks and banking
Institutions, in
the case of the weekly "bank positions."

Data for "foreign branches" and "abroad" Include amounts reported by the
branches, majority-owned partnerships, and majority-owned subsidiaries of U.S.
banking and nonbanking concerns.
In general, these data do not reflect the
positions of foreign parents or foreign parents' subsidiaries located abroad
except
through
intercompany accounts.
The
data
Include
the
foreign
subsidiaries of a few foreign-owned U.S. -based corporations.

Assets, liabilities, and foreign exchange contract data are reported on
the basis of time remaining to maturity as of the date of the report
regardless of the original maturity of the Instrument involved.
"Spot" means
due for receipt or del 1 very within 2 business days from the date of the
report.
"Short-term" means maturing in 1 year or less from the date of the
report.

Reporting Threshold
The exemption level applicable to banks and banking institutions was $10
million equivalent through January 1982, when it was raised to $100 million.
The exemption level applicable to nonbanking business concerns and nonprofit
Institutions was $1 million equivalent on all nonbank forms from March 1975
through November 1976.
It was raised to $2 million equivalent on the monthly
reports of positions held In the United States from November 1976 through
September 1978.
The exemption level was rai sed to $3 mi 1 1 ion on foreign
subsidiary positions on June 30, 1977, and for positions held in the United
The exemption level for nonbanking firms was
States on September 30, 1978.
raised to $100 million on positions in the United States In January 1962 and
on foreign branch and subsidiaries positions in March 1982.
Firms must report their entire foreign currency position in a specified
foreign currency If a specified U.S. dollar equivalent value is reached in any
category of assets, liabilities, exchange contracts bought and sold, or the
net position in the currency.
In general, exemption levels are applied to the
entire firm.
In reports on thel r foreign branches
majority-owned foreign
partnerships, and majority-owned foreign subsidiaries, U.S. banks and nonbanks
dol lar-denomlnated
assets,
labi ities
are requi red to report the U.S.
exchange contracts bought and sold, and net positions of those branches
partnerships, and subsidiaries with reportable positions in the specified
foreign currencies.
,

Description of Stjt_1_s_t 1 cj^
Data collected on the Treasury foreign currency forms are published in
the Treasury Bulletin in seven sections.
The first section presents a summary
Sections 11
of worldwide net positions in all of the currencies reported.
through VI each present data on a sped fled foreign currency.
Section VII
presents the U.S. dollar positions of the foreign branches and subsidiaries of
U.S. firms which are required to report in one or more of the specified
foreign currencies.

63
FOREIGN CURRENCY POSITIONS

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

Table

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

Report
date

Canadian
dollars
(1)

German
marks
(2)

Japanese
yen
(3)

Swiss
francs
(4)

British
pounds
(5)

U.S.

dollars
(6)

_2/

64
FOREIGN CURRENCY POSITIONS
Section

II.

- Canadian Dollar Positions
- Nonbanking Firms' Positions

Table FCP-ll-1.

[In millions of dollars]

forward exchange 8/

Short-terni trade

Position

Liquid

Sliort-

at end
of month

assets^/

term
debt

(1)

1982 Oct
1982 Nov
1982 Dec

Other

Receivables ij

_3/

Payables

(3)

{2)

assets^/
_5/

(4)

Other
llabilItles TJ

U-

Net

Bought

Sold

position

(5)

(6)

(7)

(8)

(9)

_9^/

Position

change

held by
rate J_0/ offices in:
(10)

233

n.a.
n.a.

296
359

3,669
3,619

703
729

1.792
2,113

1.769
2,513

3.035
2,364

.8165 United States
.8086 United States

3.503
207

n.a.
n.a.

r7.096

r26.817
3.759

r24,593
936

771

433

1,787

1,194
2,131

r6,003
2,248

.8055 Abroad
.8055 United States

3,710

r4,472

rl2,262

r7,529

r30,576

r26,529

2,568

3,326

r8,251

.8055 Worldwide

170
162

n.a.
n.a.

436
383

3,762
3,779

984
1,003

2,126
2.401

2,408
2,685

2.229
2,280

361

1983 Jan
1983 Feb

.8086 United States
.8134 United States

Net

Date

Assets 2/

-i./. A/

abl

1 1 1

Exchange bought

2/ .^Z .2'

_1_4/

Exchange

posi-

sold J_£/

(1)

(2)

(3)

(4)

534

(5)

Exchange Position
rate 1 / held in:
(6)

3/31/83 .... 39,116
3,651

33,065
1,161

1,783

1,319
1,777

5.276
2,496

.8088
.8088

Abroad
United States

42,767

34.216

2,317

3,096

7,772

.8088

Worldwide

Table FCP-ll-2.

Weekly Bank Positions 11/

[In millions of

Assets

United Foreign
States branch
(1)

10/06/82..

(2)

Exchange bought 14/

Liabilities 13/

12/

World- United Foreign
wide
States branch
(3)

(4)

(5)

Worldwide
(6)

Canadian dollars]

United
States
(7)

Foreign
branch

Worldwide

(8)

(9)

14/

Worldwide

Foreign
branch

Worldwide

net
Exchange
posirate 16 /
tion 15/

(U)

(12)

Exchange
United
States
(10)

sold

(13)

(14)

-482
-402
-343
-458

.8072
.8159
.8147
.8140

-546
-527
-599
-511

.8181
.8195
.8160
.8140

-416
-506
-307
-431
-430

.8066
.8063
.8081
.8072
.8065

-391
-483
-311
-240

.8139
.8183
.8167
.8091

-322
-378
-395
-414

.8089
.8161
.8171
.8139

-436
-368
-197

.8166
.8147
.8180
.8150
.8121

-24
-140

FOREIGN CURRENCY POSITIONS
III. - German Mark Positions
FCP— III— 1. - Nonbanking Firms' Positions

Section

Table

[In millions of marks]

Short-term trade
Position
«t end
of month

Liquid
assets

Shortterm
debt

_2^/

(1)

Forward exchange 8/
Other
liabilities TJ

Other

Receivables _4/

(2)

(3)

Payables

assets

_6/

(4)

(6)

Ex-

Net

Bought

Soid

position

_9/

change
rate

10 /

Position
held by
offices in:

(6)

(7)

(8)

(9)

1,653
1,692

8.101
9,360

4,035
5,549

2,797
2,580

2.5638 United States
2.4628 United States

(10)

1982 Oct
1982 Nov

n.a.
n.a.

328
298

571

1982 Dec

n.a.
n-a-

n.a.
n.a.

r9,356

rl7.143

371

549

rl5,929
1,769

r7,217
6,935

r3,848
2,766

r5,913
3,641

2.3700 Abroad
2.3700 United States

r5,232

r6,931

rl3,447

r9,727

rl7,692

rl7,698

rl4,152

r6,613

r9,554

n.a.
n.a.

160
161

609
574

2,021
2,032

8,291
9,345

3,017
4,211

4,874
5,099

1983 Jan
1983 Feb

538

3700 Uorl dwi de

2.4293 United States
2.4198 United States

Net

Date

Assets _2/,V,^/

abi

(1)

3/31/83

2/ .^/ .2'

Exchange bought

(2)

J_4/

Exchange

position

sold_l_4/

(3)

(4)

(5)

Exchange Position
rate 10 / hel

in:

(6)

36,870
1.646

34,119
2,598

4,314
8,069

3,700
2,626

3,365
4,591

2.4278
2.4278

Abroad
United States

38.516

36,717

12,383

6,226

7,956

2.4278

Worldwide

- Weekly Bank

Table FCP-lll-2.

Positions

n./

[In millions of marks]

Assets

Liabi

12/

ities

13/

Exchange

bought

Exchange sold 14/

14/

Worldwi de

Exchange
posirate 16/
tion 15/
net

United Foreign
States branch
(1)

10/06/82..

(2)

World- United Foreign
wide
States branch
(3)

(4)

(5)

Worldwide
(6)

United
States
(7)

Foreign
branch
(8)

60,932
60,667
62,529
62,589

138,443
143,349
144,340
139,949

138,025
144.689
142,389
140,904

63.905
62,367
63.507
63,953

129.347
142,290
160,774
148.803

139.576
142,170
156.974
148,333

65,535
r65,950
66,071
65,879
63,870

156,163 150,993
1 53, 241r 1 53, 982
139,904 141,527
127,696 128,200
123,893 120,873

63,798
63,414
64,502
71,792

138,703
173.067
143,071
143,649

144,338
146,733
166.539
155,805

67,464
63,937
64,448
63,476

144,273
150,701
154,755
143,682

146,944
158,075
145,291
161,118

64,806
63.428
64.978
65,101
63,757

141.809
152,363
141.278
139,764
130,352

149.961
154.871
145,234
156,363
143,809

Worldwide
(9)

United
States
(10)

Foreign
branch
(11)

Worldwide
(12)

(13)

(14)

66
FOREIGN CURRENCY POSITIONS
Section

IV.

Table FCP-IV-1.
[In

— Japanese Yen Positions
- Nonbanking Firms' Positions

Short-term trade
Position
at end
of month

Liquid
assets 2J
(1)

1982 Oct
1982 Nov

Shortterm
debt

(2)

Receivables 4/

Payables

billions of yen]
Forward exchange 8/

Other
assets

_6^/

(4)

(5)

other
liabilities

(6)

Bought

Sol«

Net

Ex-

position ^/

change
held by
rate 10/ of f ces in:

Pos

{8}

(9)

(10)

67
FOREIGN CURRENCY POSITIONS
Section

Table

FCP-V—

- Swiss Franc Positions
— Nonbanking Firms' Positions ±/

[In millions of francs]

Forward exchange

Short-term trade
Position
at end
of month

1982 Oct
1982 Nov

Liquid
assets 2/

Shortterm
debt 2/

(1)

(I)

Receivables

(3)

Payabies
(4)

Other
assets
_5/

(5)

_6/

Other
liabilities TJ
(6)

Net

Bought

(7)

Sold

(8)

position

_9/

(9)

ExPosition
change
heid by
rate j_0/ offices in:
(10)

-909
-952

2.2100 United States
2.1170 United States

400
-1,113

1.9970 Abroad
1.9970 United States

FOREIGN CURRENCY POSITIONS
Section

Table FCP-VI-1.

- Sterling Positions
- Nonbanking Firms' Positions

VI.

[In milTions

Position

pounds]

69
FOREIGN CURRENCY POSITIONS
VII. - U.S.
- Nonbanking

Section
Table FCP-VII-1.

[In mi

Liquid
assets 1/

tern,

debt 2/

r8,702

abil

32,734

Bought

'7/
't'"
i./

(7)

(6)

rS,

rl6,676

es 2'

Exchange bought

•!/

Exchange

_11/

rate
(8)

(9)

r5,370

-1,613

Net
pos on
1

sold 21/

Table FCP-VII-2.

held by
10/ offices

(«)

6,875

S,089

- Weekly Bank

Foreign Office Positions ii/

(10)

1.0000 Abroad

Exchange Position
rate 10 / held In:
(6)

(5)

(3)

,218

Position

Ex-

Net

position 9/ change

Sold

(2)

(1)

3/31/83

Other

(5)

(4)

9,994

r3.586

Assets 2/ -l/.l/

'kL\./
abies
i/

(3)

(2)

(1)

Date

"f^";,
ables
±/

0"er
'"''' ^'

Short-

Forward exchange
^

Short-term trade
Position
? end
of month

Dollar Positions Abroad
Firms' Foreign Subsidiaries' Positions i/
ons of dollars]

Abroad

1.0000

[In mi 111 ons of dollars]

Assets

Foreign
branch
(1)

12/

Liabilities 13/

Worldwide

Foreign
branch

(2)

(3)

Worldwide
(4)

Foreign
branch

Wor

wide

(5)

(6)

201,287

303,492
303.729
303,270
301,775

303.492
303,729
303,270
301,775

317.607
318.942
317.457
316,053

317.607
318.942
317,457
316,053

220,012
232,466
226,751
229,938

11/03/82
11/10/82
11/17/82
11/24/82

300,671
298,626
296,231
297,862

314,466
312,760
310,307
312,005

314.465
312,750
310,307
312,005

228,648
229,002
240,441
235,801

328,117 328,117
r311,079r311.079
308.676 308,676
310,622 310,622
318.251 318,251

380,087
242,482
226,694
217,079
210,074

380,087
242,482
226,594
217,079
210,074

315,971 315,971
r296,809r296,809
294,034 294,034
296,666 296,666
302,331 302,331

Foreign
branch
(7)

10/06/82
10/13/82
10/20/82
10/27/82

12/01/82
12/08/82
12/15/82
12/22/82
12/29/82

Uorl d-

Exchange
sold 14/

Exchange
bought 14/

1/05/83
1/12/83
1/19/83
1/26/83

292,990
293,309
288,207
289,730

308.643
309.599
303,763
304.424

308.643
309.599
303,763
304,424

229,968
240,529
242,007
245,831

229,968
240,529
242,007
245.831

2/02/83
2/09/83
2/16/83
2/23/83

289.998
288,170
289,860
289.657

289,998
288,170
289,860
289,657

303,520
302,631
305.631
306.929

303,520
302,631
305,631
306,929

240,237
248,914
240,422
247,874

3/02/83
3/09/83
3/16/83
3/23/83
3/30/83

286,097
282.934
292,653
293,698
284,497

286,097
282.934
292,553
293,698
284.497

302,230
298,627
314,900
309.262
299.906

302,230
298,627
314.900
309,262
299,906

242,809
248,171
243,354
251,429
244,987

w1 de

Worldwide
(8)

net
posi
t

(9)

21/

70
FOREIGN CURRENCY POSITIONS
Footnotes to Tables FCP-I through FCP-VII
SECTION
_1/

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

^/ Due

2J Foreign branches and majority-owned partnerships and subsidiaries only.

Weekly worldwide net positions of banks and banking institutions In the
United States, and their foreign branches and majority-owned foreign
subsidiaries.
Excludes capital assets and liabilities.

Foreign branches and majority-owned subsidiaries only.

SECTIONS
\l

_£/

THROUGH VII

Positions of nonbanking business concerns in the United States and their
foreign branches and majority-owned partnerships and subsidiaries.
In
section VII positions of foreign branches and majority-owned partnerships
and subsidiaries only.
Includes unsettled spot foreign exchange purchase contracts,
as well as
currency, demand, and time deposits, negotiable and other readily
transferable financial Instruments maturing in 1 year or less from
the
report date, and intracompany claims and loans to other parties
repayable
on demand.
Other loans, accounts receivable, and unaccepted trade drafts
are excluded.
Includes unsettled spot foreign exchange sales contracts, intracompany
liabilities, other than short-term trade payables, short-term borrowings
due In 1 year or less from the report date, and the current
portion of
long-term debt.
Other loans, accrued expenses, and accounts payable are
excluded.

Due
in
year or less;
1
Includes
Intracompany trade
receivables.
Receivables and installment paper sold or discounted before maturity are

_9/

year

or less; Includes intracompany trade payables.

current assets other than
liquid assets and short-term trade
receivables, and financial assets maturing In more than 1 ^^^r from the
report date.
Includes intracompany accounts, inventories, prepayments,
long-term trade receivables, long-term intracompany claims, and stocks,
bonds, and other securities.
Fixed assets (plant and equipment) and
parents' investment in majority-owned foreign subsidiaries ^r^
excluded.
All

All financial liabilities other than short-term debt and short-term trade
payables; Includes long-term trade payables, Intracompany liabilities,
accrued expenses, and liabilities maturing In more than 1 year from the
report date.
Capitalized plant and equipment leases are excluded.

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

and

less columns 2. 4, 6, and 8.

Representative rates on the report date.
Canadian dollar and United
Kingdom pound rates are expressed in U.S. dollars per unit of foreign
currency, all others in foreign units per U.S. dollar.

_U/ Banks and banking institutions

In the United
branches
and majority-owned
subsidiaries.
branches and majority-owned subsidiaries only.

12/ Excludes capital

assets.

13/ Excludes capital

liabilities.

States and
section

_M/ Includes both spot and forward exchange contracts.
15 / Columns

and 9 less columns

16/ See footnote 10.

and 12.

their
VII,

foreign
foreign

Table ESF-1.

EXCHANGE STABILIZATION FUND

Balances as of Dec. 31, 1982, and Mar. 31, 1983
[In thousands of dollars]
Dec.

Assets, )1abitities, and capita]

Dec. 31,

1982

31, 1982. through
Mar. 31, 1983

Mar.

31,

1983

Assets
U.S. dollars:
Held at Federal

Reserve Bank of New York.
Held with Treasury:
U.S. Government securities

224,666

Other
Special drawing rights J^/
Foreign exchange and securities: 2J
German marks
Japanese yen
Pounds sterling
Swiss francs
Mexican pesos
Brazi 1 ian cruzeiros
Accounts receivable
Total assets

(30,712)

193,954

1,394.046
1,067,000
5,249,777

844,506
(20,888)

2,238,562
1.067.000
5.228,889

1,391,277
1,656,259

(22,198)
(1.512)

1,369,079
1,654,747

(1)

66.420
477,750
876,825
438,386

(51,161)
122,250
(875.825)
85,423

14.259
600.000

394,813

101,634

496,447

148,555

20,608

523,809

12,840,409

Liabilities and capital
Current liabilities:
Accounts payable
^.
Exchange translation liability on German
marks warehoused 3/
Advance from U.S. Treasury (U.S. drawing
on

IMF)

Total

1,067,000

current liabilities

Other liabilities:
Special drawing rights certificates
Special drawing rights allocations

Total

other liabil i ties

Capital
Capital account
Net income (loss)

_5/

Total

capital

Total

liabilities and capital

1,610,368

122,242

1.732,610

4,618,000
5.404,708

(119,734)

4,618,000
5.284.974

10,022,708

(119.734)

200,000
1,007,333

(see table ESF-2)

169,163

1.067.000

47,374

200,000
1.054,707

Footnotes at end of table ESF-2.

Table

ESP— 2. — Income and Expense
[In thousands of dollars]

Current quarter
Jan. 1, 1983.
through
Mar. 31, 1983

Income and expense

(64.106)

Adjustment for change in valuation of SDR
holdings and allocations \j

1,888

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

_2/
_3/

_4/

through
Mar. 31. 1983

Profit (loss) on:
Foreign exchange

Net

Year to date
Oct. 1. 1982.

(1.353)
33.999
76,947

(6,888)

(9,434)
63,967
212,924

ncome

Beginning July 1974, the International Monetary Fund (IMF) adopted
a technique for valuing the special drawing rights (SDK's) based on a
weighted average of exchange rates for the currencies of selected
member countries.
The U.S. SDR holdings and allocations are valued
on this basis beginning July 1974.
Excludes foreign exchange transactions for future and spot delivery.
The exchange translation liability represents the amount of loss the
Exchange Stabilization Fund (ESF) would sustain on outstanding $1.1
billion equivalent of German mark swaps with the Federal Reserve if
those swaps were liquidated on Mar. 31, 1983.
A non-interest-bearing liability to the U.S. Treasury resulting from

_5/

the transfer to the ESF of foreign currencies drawn from the IMF by
the United States.
In addition, the ESF has a contingent liability up to $500 million,
in connection with Bank for International Settlements financing for
Brazil.

Annual balance sheets for fiscal years 1934 through 1940 appear
Note
Report of the Secretary of the Treasury and those for
Quarterly
succeeding years appear in subsequent reports through 1980.
balance sheets beginning with Dec. 31, 1938, have been published in the
Treasury Bulletin.
Data from inception to Sept. 30, 1978, may be found
on the statements published in the January 1979 Treasury Bulletin.
in the 1940 Annual

75
Reform '88 Cash Management

In
recognition of its established role as the Federal
Government 's chief accountant and cash manager. Treasury has
been designated as the lead agency in coordinating the Reform
'88 Cash Management Project.

Consequently,

Treasury

actively

pursuing enhancements

the Government's current payment and collection systems.
These initiatives
include wiring payments over $25,000 to
vendors, exploring the use of teleprocessing for disbursements,
collecting receipts through a nationwide lockbox system, and
establishing an automated clearinghouse system for recurring
receipts.
Many of
these state-of-the-art
techniques are
Included as el ements In agencies' action plans.
to

Such action plans were required under 0M6 Bulletin 83-6
(October 22, 1982).
These plans contain: (1) an inventory,
stratified by dollar amount, identifying each cash receipt and
disbursement activity subject to cash management controls and
projecting for each activity the significant interest savings
that can result from improving cash management practices, and
detailed
a
action
plan
describing
each
major
cash
(2)
management problem, issue, deficiency, and opportunity in the
agency, the specific steps needed to correct the problem or
issue, and a timetable for accomplishing each step.
As
lead agency, Treasury has assumed responsibility for
coordinating and monitoring agency action plan initiatives.
Utilizing the existing Liaison Program network. Treasury's Cash
Management Program Staff has been working with Federal agencies
establish
to
fiscal
year
saving
goals,
monitor
the
implementation of agency commitments, track accomplishments
according to specified timetables, and Identify Government -wl de
cash management issues which have significant financial impact
on agency operations.

Staff has devised a two-prong approach.
Monthly meetings will
held with agency officials to discuss action plan Initiatives.
Through these meetings Treasury hopes to resolve any
issues which may impede progress on individual elements and to
Initiate efforts which may lead to additional action plan
initiatives.
The Cash Management Program Staff will continue
to serve in a liaison capacity in assisting agencies through
joint on-site reviews of operations and jointly sponsored
seminars on controversial cash management issues.
be

The second phase of Treasury's approach focuses on Its
coordination role of agency action plans.
Treasury will soon
be releasing reporting guidelines to agencies to assist them in
preparing progress reports.
Previously, agencies have reported
quarterly to 0MB a summary of activities.
However, future
reports will be forwarded to Treasury.
In turn. Treasury will
consolidate this reporting information and forward a summary of
Government -wi de activity to the Reform '88 Steering Committee.

Based on a joint Treasury/agency review and evaluation, it
Is estimated that the acceleration of receipts and the timely
disbursement of payments accomplished through these action plan
Initiatives
will
favorably
impact
the
Government's
cash
position by $4,144,053,830, resulting in an annual savings,
once fully implemented, of $385, 140, 767.
Figures for two
agencies are still pending.
The table below summarizes agencies currently reporting
under the Reform '88 Cash Management Project, the one-time
acceleration/deferral savings to be realized from implementing
various cash management Initiatives, and the related Interest
savings.
Future tables will provide the status of agency
initiatives.
The Information shown in these tables will be
based on the status reports on the initiatives submitted by
agencies under the Reform '88 reporting system.

As part of its reporting responsibility to OHB's Reform
Steering Committee,
Treasury's Cash Management Program

'88

Agency

Agency for International Development.
Agriculture*
Commerce
Defense
Education

Accel erat ion/deferral
sa v1 ngs

Annual

interest

savings

$5,683,000

$2,350,000

NASA

1,026,000
1,117,390.000
165,650,000
80,644,721
27,566.720
1,322.000
461,650,000
393.575,000
163,257,916
15,352,319
183,096,000
40.000.000

300.000
119,881.000
8,333,000
8.064,472
1,722,404
137,000
44,681,000
24,007,000
5,962,848
1,188,010
13,489,550
4,000,000

Railroad Retirement Board*
Small Business Administration
State
Transportation
Treasury
Veterans Ad ministration

18.166,000
175,000
69,122.891
1.359,498.611
40,877,652

1,797,000
218,000
6,912.288
138.009.430
4,087,765

4,144,053,830

385,140.767

Energy
Environmental Protection Agency
General Services Ad ministration
Health and Human Services
Housing and Urban Development
Interior
Justice
Labor

Total
Pendl ng.

76
SUMMARY OF ACCOUNTS AND LOANS RECEIVABLE DUE FROM THE PUBLIC, AS OF
The Treasury Fiscal Manual (Bulletin 82-18. July 1, 1982) advised
agencies of a continuing reporting requirement to obtain data on the
status of accounts and loans receivable due from the public, and on
The bulletin also
agencies' accounting and debt collection practices.
required all agencies to prepare a supporting schedule to the Statement
concerning
Financial
Condition
(SF-220)
which
gives
data
of
reconciliation of account balances; an aging schedule of amounts due;
disposition
of
writeoffs
and
adjustments
to
all owances;
the
administrative action taken on delinquent amounts; an aging schedule of
rescheduled receivables; and a reconciliation of interest and penalties
The following accounts and loans receivable
assessed on delinquencies.
n
tables were cotnpi led from SF-220 supporting schedules and included

the
Consol i dated
1982
Government.

Financial

SEPT. 30, 1982
Statements

AND 1981

the

United

States

The first table gives accounts and loans receivable information by
The accompanying pie graphs are
functional category for 1981 and 1982.
representation of the 1982 receivables in each functional category as
The
percentage of the total amount of receivables for that year.
a
three remaining tables categorize recel vables by agency for 1981 and
and
loans
reconci
liation
of
gross
accounts
show
sunmary
a
1982,
receivable, and provide the summary aging schedule of gross accounts and
loans receivable.
a

Accounts and Loans Receivable by Function
[In bil lions]

Accounts

77
Accounts Receivable as

of Sept. 30,

1982

(Percent)

Income security-20 7
Education,

training,

employment, and

social services-1-8

Energy-1

International affairs- 2 2

Agrlculture-5 5

National defense-2

Veterans benefits and services- 1

GENERAL GOVERNMENT

Commerce and

fiousing credit-2.7

Other-7,9-

Ottier.30'

IRS-50.8-

Total:

$53

billion

Loans Receivable as of Sept. 30, 1982
(Percent)
Energy-4 7

Education, training, employment,
and social services-4 1

— Community

and regional development-4.0

Commerce and

tiousing credit-6 7

GENERAL GOVERNMENT
Agriculture-9.0

Federal Financing

Bank-51

Other-1 9'

Veterans benefits and services- 1

-3

Ottier-1 5

nternational affairs-15

Total:

$240 6

Includes accounts receivable from administration of justice, community and regional development,
general purpose fiscal assistance, health, natural resources and environment, and transportation.

Includes loans receivable from general purpose fiscal assistance, health,
natural resources and environment, and transportation.

income

security,

billion

Note

Government accounts and loans

receivable are

amounts due from non Government

goods furnished or services rendered. These receivables
activities including tax assessments: sale of

sale of

Government

result

from

entities for

wide range of Federal

services such as satellite launchings;

Government goods such as natural resources from Federal lands; overpayments to
or annuitants: and various loan programs such as student and housing loans.

beneficiaries

78
SUMMARY OF ACCOUNTS AND LOANS RECEIVABLE DUE FROM THE

PUBLIC, AS OF SEPT. 30, 1982

AND 1981

Accounts and Loans Receivable by Agency
[In billions]

Agency

Legislative branch
Executive branch:
Funds appropriated to the President...
Departments:
Agricul ture

Commerce
Defense
Education
Energy
Health and Hunan Services
Housing and Urban Development
Interior
Justice
Labor
State
Transportation
Treasury
Veterans Admini strati on
Other independent agencies
Of f -budget agencies
Gross receivables
Less taxes receivable, allowances,
and intragovernmental transfers....
Net receivables due from the public.

Accounts receivable

$0.3

Loans receivable

CONSOLIDATED FINANCIAL STATEMENTS
OF THE UNITED STATES GOVERNMENT
FISCAL YEAR 1982/ PROTOTYPE

THE SECRETARY OF THE TREASURY
WASHINGTON a0220

August 12, 1983

Statement of the
Secretary of the Treasury

This Consolidated Finan cial Statements of the United
States Government is a proto type report which provides information abou t financial opera tions of the Government and the
Government s ability to rais e revenues and acquire resources,
This report is not meant to compete with the budget of the
United Stat es Government as the primary tool for planning and
Rather,
controlling the allocation o f economic resources.
it is an at tempt to improve the financial reporting of the
Federal Gov ernment by applyi ng the principles of business
accounting to the Government
At present, there is a grea t deal of at tention being
given to the management and coll ection of de bt owed to the
Federal Government. The data co llected will enable the
Federal Government to improve de bt collectio n activity.
Pursuant to the Debt Collection Act of 1982 (Public Law
97-365)
regulations were establ ished requir ing each agency
to report to the Office of Manag ement and Bu dget and the
Department of the Treasury the s tatus of the ir accounts and
loans receivable.
These agency submissions are included in
this report as Schedule VIII, "S ummary of Ac counts and Loans
Receivable Due from the Public."
,

Reader comments and reactions on this prototype report
are welcome.

^^ZZ^').
Donald T. Regan

^i^'uc^

COMPTROLLER GENERAL OF THE UNITED STATES
WASHINGTON

D.C.

20648

August 12, 1983

STATEMENT OF THE UNITED STATES
GENERAL ACCOUNTING OFFICE
This consolidated financial report for fiscal year 1982 provides information that can be useful in assessing the financial
activities of the Federal Government as a whole. This report demonstrates the value of an idea we strongly support the annual publication of formal Consolidated Financial Statements of the United
States Government.

—

Consolidated financial information can provide a broader perspective on the overall financial condition of the Government than
For example, a consolis provided by the budgetary process alone.
idated report could disclose the magnitude of the Government's pension liabilities, public debt, and estimated losses on guarantee
and insurance programs.
Since the enactment of the Federal Managers' Financial Integrity Act of 1982, changes have been made to improve financial accounting and reporting by the Federal Government. First, the
General Accounting Office has developed and issued the internal
control standards to be followed by executive agencies as required
by the act.
Secondly, agencies are implementing improvements in
their internal control and accounting systems as a result of the
passage of the act.
As with our earlier reports of this nature, we did not audit
the accompanying consolidated financial statements for the fiscal
year ended September 30, 1982; accordingly, we do not express an
opinion on them.

Charles A. Bowsher
Comptroller General
of the United States

Introduction

In a continuing effort to provide more complete Consolidated Financial
Statements for the United States Government (CFS), additional data has been
included in the statements and the supporting schedules of this year's
report.

Leasehold improvements have been included in the fixed assets category
"Property and
equipment."
The
accounting
industry
recommends that
improvements on leased property should be capitalized by the lessee in a
tangible fixed asset account and depreciated over the term of the lease or
the service life of the improvement, whichever is the shorter.
Schedule VII, "Analysis of Pension and Retirement Plans," has been
changed.
The accrued pension liability for military and civil service
retirement plans are still included.
Additional pension reports have been
received from several other plans and the pension liability amount is reported on Schedule VII.
The total assets and liability net of trust fund
balance is not available for all the "other" pension plans due to the
diversity of the funding arrangements.
A new Schedule VIII, "Summary of Accounts and Loans Receivable Due
from the Public," summarizes reports received from Federal agencies.
The
Debt Collection Act of 1982 requires agencies to report the amount and
aging schedules of accounts and loans receivable.
The data from these
reports has been categorized by agency and function for both 1981 and
The schedule supports the balance sheet receivables which are net of
1982.
allowances, taxes receivable and intragovernmental holdings.
The alternative financial statements section has again been included
the CFS.
The excess of current liabilities over current assets is
defined by identifying the approximate amount of liabilities incurred that
will mature over the next year and the assets presently available to
liquidate them.
in

86
United States Government Consolidated Statement
of Financial Position as of September 30. 1982 and 1981
(In billions)

Assets

(What the Government owns--resources that are available
to pay liabilities or to provide public services in the future)

1982

Cash and monetary reserves
Operating cash in the Treasury
International monetary reserves (Note 2).
Other cash

$29.1

Receivables (net of allowances)
Accounts receivable
Accrued taxes receivable (Note
Loans receivable (Note 4)
Advances and prepayments

Inventories (at cost) (Note 5)
Goods for sale
Work in process
Raw materials
Materials and supplies for Government use
Stockpiled materials and commodities

Property and equipment (at cost)
Land (Note 6)
Buildings, structures, and facilities (Note
Military hardware (Note 8)
Equipment (Note 8)
Construction in progress
Leasehold improvements
Other

Accumulated depreciation (Note

9).

Deferred charges and other assets..,
Total

7).

87
United States Government Consolidated Statement
of Financial Position as of September 30, 1982 and 1981
(In billions)

Liabilities
(What the Government owes liabilities incurred in the
past that will require cash or other resources in the future)

1982

1981

cunts payable

$105.7

$97.8

arned revenue

28.1

22.8

918.8

784.4

418. F
491.9
1,616.7
200.0
10.0
8.8

377.8
464.4
1,430.0
192.7

2,745.9

rowing from the public (Note 10)
rued pension, retirement, and disability
plans (Note 11)
lilitary personnel
ivilian employees
ocial security
eterans compensation
ederal employees compensation
ther pension plans

tingent liabilities for guarantee and
insurance programs (Note 12)

°.9

3.1

64.0

er liabilities
Total

3,865.6

Accumulated Position
umulated position beginning of period

rent period results
rent noncash provision for social
security (Note 13)

umulated position end of period
Total

(2,756.6)
(127.4)

(2,491.9)
(76.3)

(186.6)

(188.4)

(3,070.6)

(2,756.5)

$795.0

$690.3

88
United States Government Consolidated Statement of Operations for
the Years Ended September 30. 1982 and 1981
(In billions)

1982

Revenues
Levied under the Government's sovereign power
Individual income taxes
Corporate income taxes
Social insurance taxes and contributions....
Excise taxes
Estate and gift taxes
Customs duti es
Mi seel 1 aneous
Earned through Government business-type operations
Sale of goods and services
Interest
Other

Total

Expenses by function (see also stinmary of expenses
by object and agency)
Administration of justice
Agriculture
Commerce and housing credit
Community and regional development
Education, training, employment, and social services.
Energy
General government
General purpose fiscal assistance
General science, space, and technology
Health
Income security (Note 11)
Military personnel
Ci vi lian employees
Social insurance
Veterans compensati on
Other
Interest
International affairs
Nati onal defense
Natural resources and environment
Transportation
Veterans benefits and services
Total

Current period results

$298.1

89
Summary of expenses by object and agency

1982

Expenses by object
Salaries and employee benefits
Vendor services and supplies
Depreciation
Pensions, health and life insurance..
Casualty insurance and indemnities...
Grants, subsidies, and contributions.
Interest
Total

Expenses by agency
Legislative branch
Judicial branch
Executive branch
Office of the President
Departments
Agriculture
Commerce
Defense
Education
Energy
Health and Human Services
Housing and Urban Development...,
Interior
Justice
Labor
State
Transportation
Treasury:
Interest
Other
Independent agencies
Total

$132.3

1981

United States Government Consolidated Statement
of Changes in Financial Position
for the Years Ended September 30, 1982 and 1981
(In billions)

Cash and monetary reserves beginning of period

1982

1981

$59.9

$54.4

632.1
140.7
134.4
25.7

599.8
95.9
75.5
27.3

75.7
10.2
17.8

80.9

1,096.5

955.1

Sources of funds:
Taxes and other levies
Other Government operations
Net increase in borrowing
Depreciation
Provision for accrued pension,
retirement, and disability plans
Sale of property and equipment
Increase in liabilities
Total

sources of funds

Uses of funds:

Spending on Government programs
Purchase of property and equipment
Increase in receivables
Increase in inventories
Increase in deferred charges and other assets
Reduction in provision for contingent liabilities
for guarantee and insurance programs
Total

uses of funds

Cash and monetary reserves end of period

900.2
53.1
37.8
10.8
18.9

21.3

Notes to Financial Statements

Summary of general accounting policies

Principal
financial
statements. --These
consist of a statement of financial position,
a
statement of operations, and a statement of
changes in financial position.
Because of their
developmental nature, only the most significant
:hanges in format are disclosed in the Notes.
Principles of consol idation.— The statements
include the accounts of all significant
agencies
ind
funds included in the budget of the U S
Government.
Agencies such as the U.S. Postal*
Service
and
the
Federal
Financing
Bank,
:lassified
as
off-budget
(not
included
in
;alculating the budget surplus or deficit), have
ilso been included in the statements
because they
ire wholly owned and are clearly
within the scope
If
Government operations.
Government-sponsored
nterprises such as the Federal land banks are
excluded
because
they
are
privately
owned,
ntragovernmental transactions were eliminated in
onsolidation.
Fiscal year.— The fiscal year of the U.S.
overnment ends on September 30.
Reclassification
and
adjustment.— After
eview, certain 1981 income and expense
accruals
ave been restated where appropriate
to reflect
igmficant
reclassifications
and
adjustments
ade after the end of the fiscal year.
This may
ccur for one of two reasons.
Agency subunits or
rograms
may have been transferred from one
spartment
or
agency
to
another
or
a
eclassification
of
an
item may
have
taken
lace.
As
a
result, the income and expense
otals presented as prior year data
may not
<actly match those originally published.

International monetary reserves
This

category,

September 30, 1982,
$11.2 billion in
)ld, recorded at $42.22 per ounce,
the statutory
;ice at which gold is monetized by
the issuance
gold certificates to the Federal
Reserve
'Stem; $4.8 billion of special drawing
rights,
international reserve asset; and $6.4 billion
^presenting the U.S. reserve position in
the
iternational Monetary Fund.

OTpnses the following items:

Accrued taxes receivable
The
September 30,
1982,
total
for taxes
ceivable
represents $24.0 billion (net)
for
linquent
taxes and $3.6 billion of accrued
rporate taxes.

Loans receivable

Outstanding loans and allowances for losses
have been recorded as reported by the
various
lending agencies.
The allowances for losses are
presumed to be understated and they are under
study.
Interest rates and loan repayment terms
vary considerably for outstanding loans,
with
rates up to 15.5 percent and terms from as
short
as 90 days to well over 40 years.
5.

Inventories

Inventories include nondepreciable personal
property and are generally stated at cost.
The
September
30.
1982,
total
for
inventories
comprises $91.4 billion for the Department of
Defense and $33.1 billion for other agencies.
The amounts as of September 30. 1981,
were $89 8
billion and $23.9 billion, respectively.
The
inventory accounts do not include the weapons
stockpile since the extent of this inventory
is
classified information.
6.

Land

Land is valued at the cost paid by the
Government.
The cost of land acquired through
donation,
exchange,
bequest,
forfeiture,
or
judicial
process is estimated by the General
Services Administration at amounts the Government
would have paid if purchased at the date
of
acquisition.
Pending study of valuation methods,
the Outer Continental Shelf and other offshore
land, and the 670 million acres of public
domain
land have not been included.
In 1272 a committee
of the House of Representatives estimated
the
value of public domain land (92 percent of the
total
onshore
acreage
owned
by
the
Federal
Government) to be $29.9 billion.
7.

Buildings, structures, and facilities

This category consists of all real property
owned by the Federal Government except land.
The
total reflects the acquisition cost of buildings
and the cost of acquiring or erecting
dams,
utility systems, monuments, roads, and bridges.
The September 30, 1982, total represents
$55.6
billion for the Department of Defense and
$83.2
billion for other agencies. The amounts as
of
September 30, 1981, were $51.3 billion and
$78.7
billion, respectively.

92
Depreciable personal property

Military hardware and equipment are recorded
at acquisition cost and include only depreciable
property currently in use or in usable condition.
components
of
each
category
are
The
major
simmarized as follows:
1982

1981

(In billions)

Military hardware
Aircraft and related
equipment
Ships and service craft
Combat and tactical
vehicles
Missiles and related
equipment
Other
Total

Equipment
Department of Defense
Industrial plant
equipment
Communications and
electronics
Other

Other agencies
Total
9.

$91.5
70.7

$82.6
63.8

54.8

38.0

24.0
3.8

21.4
3.6

$244.8

$209.4

$16.9

$26.3

2.6
34.2

2.9
4.7

53.7
30.6

33.9
47.3

$84.3

$81.2

11.

Accumulated depreciation

Most Government agencies do not calculate
depreciation on property and equipment; therefore, accumulated depreciation is estimated on a
straightline basis, from available information.
The useful lives applied to each classification
of asset are as follows: Buildings, structures,
and
facilities 50 years;
ships
and
service
craft--30 years; industrial plant equipment--20
years; all other depreciable assets 10 years.

—

10.

premiums and discounts was $1,136.8 billion. Thi:
amount was reduced by $218.0 billion for intra^
governmental holdings.
The amount of Federa
debt outstanding net of unamortized premiums an(
discounts, as of September 30, 1981, was $994.
billion.
This amount was reduced by $209.'
billion for intragovernmental holdings. As o
September 30, 1982, foreign and internationa
investors held approximately $146.4 billion o
the debt outstanding with the public. The amoun'
as of September 30, 1981, was $135.5 billion. Fo
additional
information on borrowing from thi
public, see the Federal Debt Maturity schedule ii
the supplemental section (page 1C5).

BorroMing from the public

As of September 30, 1982, the gross amount
of Federal debt outstanding net of unamortized

Accrued pension, retirement, and
disability plans

The accounting for accrued pension, retire
ment, and disability plans is subject to severa
different assumptions, definitions, and method
of calculation.
Each of the major plans i
summarized below.
Military personnel and civilian employees
Accrued pension liabilities for September 30
represent
the
excess
of
accumulate
1982,
benefits over net assets available under the tw
plans and were calculated in accordance wit
instructions developed jointly by the Genera
Accounting Office and the Office of Managemen
and Budget under the provisions of Public Law 95
The liabilities under these two plan
595.
represent a major portion of the total unfunde
liability which is to be reported under Publi
Law 95-595.
Social security: Based on the present valu
of
the
projected
of
benefits
ove
excess
contributions for present participants for th
next 75 years.
It has not yet been determined whether th
requirements for Federal pension plans, estab
lished as a result of Public Law 95-595, shoul
be applied to the Social Security System due t
the uniqueness of the actuarial cost methods use
for measuring benefits under the system.

93
compensation:
Represents
the
Veterans
resent value of annual benefit payments.
Federal employees compensation: Represents
for
approved
Federal
stimated
future
costs
imployees Compensation Act cases.
Other annual pension reports received from
ilans covered by Public Law 95-595 are reported
n
the same manner as military personnel and
ivilian employees described above.
information
on
accrued
For
additional
lensions, see Analysis of Pension and Retirement
section
schedule
the
supplemental
'lans
in

page 106

force, representing the maximum risk exposure to
the
billion
of
Government,
is
as
$2,074,0
September 30, 1982.
The Government also guarantees loans by nonGovernment enterprises to businesses and individThese guarantees become liabilities of the
uals.
Government only when it is required to honor its
guarantees. Loan guarantees in force at September 30, 1982, are $488.0 billion. For further
information on contingencies, see the Commitments
and Contingencies of the U.S. Government schedule
in the supplemental section (page 104).

)

15.
.2.

Contingent liabilities for guarantee and
insurance programs

agencies
not
make any
A
number
of
do
irovision for estimated losses on loan guarantees
not
provide
ind
insurance,
while others
do
easonable estimates of losses.
on
estimated
For
additional
information
esses for guarantee and insurance programs, see
he Commitments and Contingencies of the U.S.
lovernment schedule in the supplemental section

Open-ended programs and fixed costs

The Government commits itself to provide
services by passing laws that make spending mandatory.
Since a significant amount of future
spending is fixed by law, it is very probable
that the Government will pay for these programs
in future years. Listed below are the programs
for fiscal 1982 that can be terminated only if
the laws are changed.

1982
(In billions)

page 104
3.

Current noncash provision for social
security

The noncash provision for social security
epresents changes in the social security accrued
iability between periods based on a 30-year
imortization of the actuarial deficit. Accounting
lethods
for this provision require additional
;tudy.

The noncash amount is not included in the
Statement of Operations because a substantial but
ndeterminate portion is not applicable to the
lurrent period. The Statement of Operations does
nclude cash benefit payments.
The current
loncash provision for social security is $186.6
>illion in 1982.
14.

Contingencies

Several
Government
agencies
insure
)usinesses and individuals against various types
)f risks.
The amount of insurance coverage in

Payments for individuals
Social security and railroad
reti rement
Federal employees retirement
and insurance
Unemployment assistance
Assistance to students
Food and nutrition assistance.
All other
Medicare and Medicaid
Public-assistance-related
programs

$159.3
44.5
23.6
5.1

3.0
2.9

67.8
20.7

326.9
Net interest

General revenue sharing
Other open-ended programs and
fixed costs
Total

84.7
4.6
10.7

$426.9

94
Alternative Financial Statement Formats
United States Government
Consolidated Statement of Selected Current Assets and Liabilities
as of September 30, 1982 and 1981
(In bill ions)

Current Assets

—

(What the Government owns
resources that approximate amounts
available to pay liabilities or to provide public service in the next year)

1982
Cash and monetary reserves
Operating cash in the Treasury
International monetary reserves
Other cash

1981

$29.1
22.4
19.7

Receivables (net of allowances)
Accounts receivable
Accrued taxes receivable
Loans recei vabl
Advances and prepayments

Total: Current assets

Current Liabilities

—

(What the Government owes amounts incurred in the
past that will require cash or other resources in the next year)

Accounts payable

$105.7

$97.8

Borrowing from the public

459.4

398.3

Accrued pension, retirement, and
disability plans

222.7

213.2

Total: Current liabilities

787.8

709.3

$630.2

$575.4

Excess of current liabilities over current assets

United States Government
Consolidated Statement of Other Assets
as of September 30, 1982 and 1981
(In billions)

(Resources that generally would not be liquidated
to finance operations in the next year)

Loans receivable (net of allowances)

Inventories (at cost)
Goods for sale
Work in process
Raw materials
Materials and supplies for Government use
Stockpiled materials and commodities

Property and equipment (at cost)
Land
Buildings, structures, and facilities.
Military hardware
Equi pment
Construction in progress
Leasehol d i mprovement
Other

Accumul ated depreci ation

Deferred charges and other assets
Total: Other assets

1982

1981

$180.9

$155.6

35.6

96
United States Government
Consolidated Statement of Other Liabilities
as of September 30, 1982 and 1981
(In bill ions)

(Amounts owed that will not fall due in the next year)

1982

1981

Unearned revenue

$28.1

$22.

Borrowing from the publ ic

459.4

336.]

Accrued pension, retirement, and disability plans
Mil itary personnel
Civilian employees
Social security
Veterans compensation
Federal employees compensation
Other pension plans

402.3

2,523.2

Contingent liabilities for guarantee and
insurance programs
Other liabilities
Total: Other liabilities

3.1

64.0

$3,077.8

97
United States Government
Consolidated Statement of Changes In the
Operating Cash Balance
for the Years Ended September 30, 1982 and 1981
(In billions)

1982

Operating cash beginning of period...
Sources of cash:
Budget recei pts
Net borrowing from the public \J
Other means of financing _2/
Total

Uses of cash:
Budget outl ays
Of f -budget outl ays
Other means of financing
Total

Operating cash end of period

_2/

Introductory Statement to the Supplemental Schedules
The following schedules present information which in some cases is unique to the Federal
Government or is not generally shown as a part of published financial statements.
The information
in the schedules reflects various operations of the Government under laws passed by the Congress,
and in some cases shows the financial costs to the Government of providing benefits through the tax
c>,c+Qm «,- i-h,-«..nh ot-h,.- ir,^T,~o^t- mo=.r,c =c '^'^r,Qsed to dlpect FedcTal revenue collection or spending

Statements; in others, there is
Consequently, each of the tables
source.

little
should

relationship between the schedules and the statements.
considered individually as a specialized information

The following schedules are presented in this section:

Flow of Funds Projections

The information in this schedule was obtained from the 1984 Budget of the U.S.
Government
prepared by the Office of Management and Budget.
It presents actual and projected 1983-86 cash
receipts and outlays.
Although the consolidated financial statements are prepared on an
accrual basis and reflect historical financial data, no attempt has been made here to develop
projections on an accrual basis.
The data presented here also differ from the statements in
that certain receipts are treated as reductions of outlays, according to conventions adopted
for budgeting purposes.
These projections are not forecasts of future receipts and outlays, nor are they
recommendations for policy-setting purposes.
They simply reflect what may happen to cash basis
revenues and expenditures considering certain basic assumptions reflected in the budget.
The
receipts projections are consistent with the continuation of current tax laws as modified in
the 1984 Budget.
Outlay estimates indicate the degree to which resources would be committed by
the continuation of existing and currently proposed programs through fiscal 1986.

Financial

Statements of the U.S. Government Restated for General Price-Level Changes

This
schedule is developed from the Statement of Financial
Position and
Statement of Operations.
Historical values have been restated to account for changes in the
general purchasing power of the dollar.
Accounting for inflation by this method provides
comparability between years, since all dollars are equivalent to the current level of
purchasing power.
This restatement generally follows the Financial Accounting Standards Board
Statement No. 33, "Financial Reporting and Changing Prices."
Derived from the Consumer Price Index for All Urban Consumers (CPI-U), the average conversion factors used here are: fiscal 1982-1.034 and fiscal 1981-1.083.
Monetary assets and
liabilities as of September 30, 1982, are not restated because they already represent dollars
of current general purchasing power.

99
III

Effect of Tax Benefits on Federal Revenues

The Effect of Tax Benefits on Federal Revenues schedule is designed to show the revenue
losses attributable to tax law provisions that allow
special
exclusions, exemptions, or
deductions from gross income or provide special credits, tax rates, or deferrals.
The
schedule shows the approximate cost of tax benefits.
the effect on
revenues of adding or deleting a particular tax
It should be noted that
benefit would not be the same as the dollar amount currently associated with the benefit.
Consequently, it is not possible to say what the effects of increasing or decreasing selected
benefits would be without considering a number of variables.
Some minor distortions may have occurred since data presented have been condensed for
purposes of this report.

Commitments and Contingencies of the U.S. Government
The Commitments and Contingencies schedule is designed to show two basic types of
finanThese are the maximum potential liabilities and the anticipated liabilities
information.
which it is reasonably certain, based on experience and other factors, will occur.
The
anticipated liabilities are the equivalent to allowance for losses.
in commercial accounting, a commitment represents an obligation to pay for
As used
goods or services upon delivery under a contractual arrangement.
Commitments shown here are
represented by long-term contracts for which appropriations have not yet been provided by the
and
undelivered
Congress,
orders
representing
obligations
of
currently
available
cial

appropriations.
A contingency represents a possible exposure to a liability depending upon the outcome
of uncertain future events or circumstances.
Contingencies are stated in terms of the maximum
risk exposure without regard to existing contingent assets which would be available to offset
potential
losses.
The
"ratio of losses incurred to premiums written" represents the
probability of incurring those losses.
"Contingent liabilities" supports the balance sheet
liability "contingent liabilities for guarantee and insurance programs" and represents the
anticipated liability.

Federal

Debt Maturity

The Federal
Debt Maturity
schedule reflects
information on the borrowing of the
Federal Government needed to finance the Government's operations.
Information on the debt is provided by type of debt instrument, average interest rate
charged for each type, and maturity.
This schedule directly supports the balance sheet
caption, "Borrowing from the public," which is shown net of intragovernmental holdings and
unamortized premium or discount.
Intragovernmental holdings represent that portion of the
total Federal debt held by Federal entities, including the major trust funds.

Additions to Non-Federal Economic Resources
This schedule indicates the ways in which the Government uses its resources to add to the
physical and human resources of the Nation without acquiring physical assets. Some of these
investment-type expenditures, while not adding to the Federal assets, add to the assets of
State and local governments or private institutions, and all enhance the future productivity
of the Nation.
While this schedule does not provide a precise measure of the difference between capital
and current items, it does indicate a useful general magnitude.
Additions to State, local, and private assets include construction grants for highways,
hospitals, and airports, subsidies to the merchant fleet, and conservation projects, which
increase the
of
developmental
value
private farmland and water resources.
Other
expenditures reflect current

100
Federal expenditures and grants which will benefit the Nation in future years by increasing
productivity or well-being.
These include research and development costs and education and
training.

VII

Analysis of Pension and Retirement Plans

schedule is designed to provide an inThe Analysis of Pension and Retirement Plans
into the size of these programs and associated future financing requirements as of
Amounts for social security, military
September 30, 1982, for all Government-financed plans.
personnel, civilian employees, and other plans support the liabilities on the Consolidated
Statement of Financial Position.
The third part of this schedule provides information on
benefits paid to pensioners.
To the
extent that information for this schedule was available, it was obtained from
direct contact with actuaries for the respective agencies, from published Department of the
Treasury reports, and from annual reports filed with the General Accounting Office under
Public Law 95-595.
The schedule is incomplete in that the number of plans ultimately to be
included in the schedule is not yet resolved--as many as 38 separate plans might be
included.
GAO has developed instructions regarding the information to be contained in and the
format to be used in the annual reports.
Figures developed under the GAO guidelines have been
used in this schedule for 1982.
sight

VIII Summary of Accounts and Loans Receivable Due from the Public
The Debt
Collection Act of 1982 (Public Law 97-365) requires the Director of the Office
Management and Budget (OMB), in consultation with the Secretary of the Treasury and the
Comptroller General of the United States, to establish regulations requiring each agency with
outstanding debts to prepare and transmit to OMB and the Treasury a report which summarizes
the status of accounts and loans receivable managed by each agency.
These receivables result
from a wide range of Federal activities including tax assessments; sale of Government services
such as satellite launchings; sale of Government goods such as natural resources from Federal
lands; overpayments to people like annuitants; and various loan programs such as student and
Government to improve
housing loans.
The data in the reports will enable the Federal
col lection activity.
This schedule
supports the balance sheet
receivables,
"Accounts receivable" and
"Loans receivable" which are shown net of allowances, taxes receivable and intragovernmental
holdings.
The information in this schedule is based on data submitted by Federal agencies to
the Treasury and published annually in the Treasury Bulletin.
of

Federal

Facts and Figures

The schedule is designed to provide readers of the financial statements and schedules a
recognizable benchmarks to use in making comparisons and identifying any relationMajor emphasis has been given to providing information on the gross national product,
the Consumer Price Index, employment. Federal debt. Federal expenses, and personal income
taxes.
In all cases, the most current data available have been provided.
set of
ships.

101

Supplemental Schedules
SCHEDULE

Flow of Funds Projections
for the Years Ended
September 30, 1982-86
(In bi

ions)

1982
Actual

receipts
axes
Individual
Corporation
ocial insurance taxes and contributions
Employment taxes and contributions
Unemployment insurance
Contributions for other insurance and retirement...
xcise taxes
state and gift taxes
ustoms duties
li seel laneous
ents and royalties
;h

Total cash receipts
;h

outlays by function

dmi nistration of justice
,gri

culture

illowances and civilian pay raises and contingencies.
ommerce and housing credit
ommunity and regional development
ducation, training, employment, and social services.

nergy
eneral government
leneral science, space, and technology
eneral purpose fiscal assistance
ealth
ncome security
nterest
nternational af fai rs
lational defense
latural resources and environment
ran sport at ion
eterans benefits and services
Total cash outlays
Total

budget surplus

(deficit)

Deficit, off-budget Federal entities
Total

surplus

(deficit)

$297.7

1983

1984

1985
Estimate

1986

102

Financial Stateiwnts of the
U.S. Government

Restated for General Price-Level Changes

(ResUted to Septerter 30, 1982. Dollars)
(In billionsl

Financial position
Assets
Cash and monetary reserves
Receivables (net of allowances)
Inventories (at cost)
Property and equipment (net of accumulated depreciation)
Deferred charges and other assets

Total assets
Liabilities
Accounts payable
Unearned revenue
Borrowing from the public
Accrued pension, retirement, and disability plans
Contingent liabilities for guarantee and insurance programs
Other liabil ities

Total

iabil ities

Accumulated position
Accumulated position beginning of period
Current period results
Current noncash provision for social security
Accumulated position end of period
Total liabilities and accumulated position
Operating results
Revenues
Taxes and duties
Business- type operations
Total

revenues

Expenses
Administration of justice
Agriculture
Commerce and housing credit
Community and regional development
Education, training, employment, and social services
Energy
General government
General purpose fiscal assistance
General science, space, and technology
Heal th

Income security
Interest
International affairs
National defense
Natural resources and environment

Transportation
Veterans benefits and services
Total expenses

General price-level gain

Current period results

103
SCHEDULE III

Effect of Individual and Corporate Tax Benefits on Federal Revenues
for Tax Years 1982 and 1981
(In billions)

Estimated amount
of revenue loss

19.0

Twr

104
SCHEDULE IV

Conmltaents and Contingencies
of the U.S. Governaent
as of September 30, 1982
{In bi llions)

Amounts
outstanding

Comml tments

Long-term contracts
GSA building construction
Tennessee Valley Authority
Other
Subtotal

21.6

Undelivered orders
Legislative branch
Judicial branch
Executive Office of the President...
Funds appropriated to the President.
Defense
Education
Health and Human Services
Housing and Urban Development
Transportation
Environmental Protection Agency
Other agencies
Of f -budget agencies

19.4
89.5
7.6
23.8
256.9
23.9
9.6
38.2
6.6

475.8

Subtotal
Total

$2.8
9.5
9.3

commitments

Contingencies
Government loan and credit guarantees
Housing
Export-Import Bank of the United States.
Business loan and investment fund
Farm ownershi p
Rural development
Shipbuilding and operations

Transportation
Veterans benefits
Education
Other
Subtotal

Insurance in force
Federal Deposit Insurance Corp
Federal Savings and Loan Insurance Corp.
Federal Emergency Management Agency
Nuclear Regulatory Commission
National Credit Union Administration..,.
Veterans Administration
Department of Transportation
Other
Subtotal

Unadjudicated claims
Transportation
Other
Subtotal

Other contingencies
Veterans readjustment benefits
Other
Subtotal
Total conti ngencies
Total contingent liabilities

$497.4

105
SCHEDULE V
Federal Debt Maturity
as of September 30, 1982

Q
5

106
SCHEDULE VII

Analysis of Pension and Retirement Plans
as of September 30, 1982
(

In bill ions)

security

Military
personnel

$1,430.0

$377.8

$464.4

342.7

55.6

47.1

Social

Liabilities
Accrued liability, September 30, 1981

Civilian
employees

Add:

Accruals
Deduct:
Benefits paid

156.0

19.6

14.

Accrued liability, September 30, 1982

$1,616.7

$418.5

$491.9

Accrued liability, September 30, 1982

$1,616.7

$41".

$491.9

Cumulative trust fund transactions through end of period
Receipts
Outlays (net of unamortized discount and premium on
investments)
assets of the trust fund
Liability net of trust fund balance,
September 30, 1982

1,316.7

240.3

1.296.6

144.2

20.1

96.1

Total

Other Plans

$395.8

$418.5

$1.596.6

\_/

Liabilities
$8.6

Accrued liability beginning of plan year
Add:

Accruals

-5

Deduct:

Benefits paid

Accrued liability end of plan year

$'^

Plan year
1982

Beneficiaries
Number receiving benefits (thousands)
Social security
Mil itary personnel
Civil i an employees
Other plans
Average monthly benefits (dollars)
Social security
Mil itary personnel
Civil i an employees
Other plans

;5,575

1981

1980

197Q

1978

1977

1076

1975

1974

1973

107

Schedule VIII
Suinnary of Accounts and Loans Peceivable
Due from the Public as o*^ September 30, 1082 and lofll

5gis1ative branch
xecutive branch
Funds appropriated to the President...
Departments
Agricu! ture
Commerce
Defense
Education
Energy
Health and Human Services
Housing and Urban Development
Interior
Justice
Labor
State
Transportation
Treasury
Veterans Administration
Other independent agencies
Off-budget agencies
Gross receivables
Less taxes receivable, allowances
and intragovernmental transfers...
Net receivables due from the public.

(In hill ions)
'ccoiipts snd Loans Ppcpi'vaMp
hv ,«aencY
/Accounts;
I"!]"'

^.'^

rprpivflf^''p

rmn

nans rpceivahlp
in"!

108
Schedule VIII - Continued
Sumnary of Accounts and Loans Receivable
Due from the Public as of September 30, 1982 and 1981
(

billions)

Accounts and Loans Receivable
by Function

Administration of justice
Agriculture
Commerce and housing credit
Community and regional development
Education, training, employment, and social services.
Energy
General government 1/
General purpose fiscal assistance
General science, space, and technology
Heal th

Income security
International affairs
National defense
Natural resources and environment
Transportation
Veterans benefits and services
Total

SCHEDULE IX
Federal Facts and Figures
Unit of

measure

Gross national product
Current dollars
.'.'.'.'.'.'.'.*.'.'...*
Per capita
19/2 dollars
Per capita
.'.* .'.*..*..*
Population (includes Armed
Forces)
ConsuiKr Price Index
All Items (1967=100)
Purchasing power
(1967=$1.6o)

Emplojnnent
Total labor force
Total employed
Federal employment

Military
Civilian

billions
dollars
billions
dollars
millions

.'.'.'.'.'.'.'.'.'*'

mi 11 ions

millions
.".'.'.'.'.*....*....*

''"''"' '' '
Fed^r^y^iebt"'

millions

"'""'' °'''^'^'^-^'^^^o;^^nu\\\\\::::"\:\-

Gross debt
*..'
1972 dollars...
.;.;;;;;;;;
Held by public (current
dollars)
Percent of GNP
Per capita
1972 dollars
:.::::::::::
Interest on the Federal debt
(current'diiiarsi
'""'
Per capita
Percent of GNP
Percent of total Federal
expenses.'!!
1972 dollars
Total Federal expenses"
(accriai)
Current dollars
Percent of GNP... !!!!!!!!!!
''^''
"P^'^a
.
;;•;;;;
Personal income
Current dollars
Percent of GNP...!!!!!!!.",*;;
Per capita
1972 dollars
Percent of GNP
!!
Per capita
^°'"

Sonars
billions
billions
dollars
percent
percent
billions
billions
percent
dollars
billions
percent
dollars
billions
percent
'""i^^^

•«^"^t^^'^"ci;.;'i;;;is

Number of taxpayers!!!!!!!.'!!
$6,000 $9.999
Number of taxpayers

$10,000-$15.999
Number of taxpayers....

billions
thousands
billions
thousands
billions
thousands
billions
thousands
billions
thousands
billions
thousands
billions
thousands
billions
thousands

$16,000-$24,999
!!!
Number of taxpayers
$26,000-$49,999
Number of taxpayers
$50 000-$99.999
\\\\\\
Number of taxpayers
$100,000-$999,999
Number of taxpayers
!!''
$1 millions and over
Number of taxpayers
!!
^deral participation in
doraestic'credit'Mrketi

ftdl at^n-cel ^J^^^^e^tl'
p]
guidance
Federal participation
rate

io|:i

izi

ions

billions
billions
percent

5nder"$noo"!!.'*!''

:er«nr
bin

-=^°-)

[^^ll^"'!^'
(direct
and guaranteed loans)

z^ :nd^r^fe5;^^i^:i2f^il?:ii3ifnii:ST^^-

billions
billions

---^
percent

1982

;

1981

1980

CURRENCY AND COIN
OUTSTANDING AND IN CIRCULATION
U.S.

112

U.S.

Currency and Coin Outstanding and

Circulation

AMOUNTS OUTSTANDING AND IN CIRCULATION

June 30, 1983
Coin 2/

Currency
Total

currency and
coin

Amounts outstanding
Less amounts held by:
The Treasury
The Federal Reserve banks..
Amounts in circulation

Federal Reserve notes

Total

Currency no
longer issued

U.S. notes
_1/

Dollars

Total

$181,789,283,363 $166,994,302,465 $166,397,127,614 $322,539,016 $274,635,835 $14,794,980,898

_3/

Fractioni
coin

$2,024,703,898 $12,770,27)

259,659
61,044

503,439,419
382,412,207

361,124,075
150,914,720

142,31!
231,49;

299.924,176

274,315,132

13,909,129,272

1,512,665,103

12,396,46'

530,865,049
19,231,351,765

27,425,630
18,848,939,558

4,551,132
18,848,878,513

22,614,839

162,027,066,549

148,117,937,277

147,543,697,969

COMPARATIVE TOTALS OF MONEY IN
C1RCULAT10N--SELECTED DATES

CURRENCY IN CIRCULATION BY DENOMINATION

June 30, 1983
Amount

Per

U.S.

Currency

(in

capita £/

notes

no longer
i ssued

millions)

$143,480
133,611,966
113,181,410
5,950
3,380

$153,859,511
13,084
39,563.935
25.537.090
20,308,900
11.782.700
22,695,900
192.500
211,000
50.000
100,000

Denomination

Date
Federal
Reserve
notes _1/

Total

$2
55

no
S20
550
5100
5pOO5''°°0

tf'°°°
510.000
Fractional parts
Partial notes ^/
Total

currency

$3,559,494,891
686,493.604
4.646,303,800
11,424,726.160
46.795,148,820
17,870,026,700
62.788,198,200
158.196.500
184,033,000
1,835.000
3.480,000

$3,405,491,900
552,868,554
4,493,658,455
11.399.183,120
46,774,836,540
17,858,244,000
62,712,524,400
158.004.000
183,822,000
1.785.000
3.380,000

487
115

487
25

148,117,937,277

147,543,697,969

299,924,176

274,315,132

1/ Issued on and after July 1, 1929.
2/ Exc udes coin sold to collectors at premium prices.
3/ Includes $481,781,898 in standard silver dollars.

52,977,900
-

June
May
June
June
June
June
June
June
June
June

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

1983
1983
1982
1980
1975
1970
1965
1960
1955
1950

$162,027.1
160.173.7
148,170.0
127.097.2
81,196.4
54.351.0
39,719.8
32.064.6
30,229.3
27.156.3

$691.74
r684.33
r638.51
558.28
380.08
265.39
204.14
177.47
182.90
179.03

4/ Based on Bureau of the Census estimates of population.
Represents value of certain partial denominations not presented for

"5/

redemption.

WERT
BOOKBINOINC
MIODIETOWK P*

APRIL 84

Full text of Treasury Bulletin : September 1983

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