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'^"Wiil \*\UNITED STATES TREASURY DEPARTMENT

OFFICE OF THE SECRETARY

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The Treasury Bulletin is for sale by theSuperintendent of Documents,

U.S. Government Printing Office, Washington, D.C. 20402Subscription per year $55.15 domestic, $68.95 foreign.

Single copy price varies.

Treasury Bulletin

July 1976

DEPARTMENT OF THE TREASURY OFFICE OF THE SECRETARYWASHINGTON. D.C.

July 1976

CONTENTS

Article

FFO-1.

FFO-2,

Chart

FFO-3.

FFO-i.

FFO-5.

FFO-6.

FFO-7.

FFO-9.

FO-1.

FO-2.

FO-3.

FO-4.

UST-1.

UST-2.

UST-3.

J/B-1.

FD-1.

FD-2.

FD-3.

FD-4.

FD-5.

FD-6.

FD-7.

FD-8.

FD-9.

FD-10.

FD-11.

PDO-1,

PDO-2.

PDO-3.

PDO-4.

Treasury Financing Operations V

FEDERAL FISCAL OPERATIONS

Summary of Fiscal Operations

Budget Receipts by Source ^

Budget Receipts by Source 5

Budget Outlays by Agency ^

Undistributed Offsetting Receipts 7

aBudget Outlays by Function

. Investment Transactions of Government Accounts in Federal Securities (Net) 10

- Trust Funds Transactions _

. Detail of Excise Tax Receipts 12

FEDERAL OBLIGATIONS

. Gross Obligations Incurred Within and Outside the Federal Government by Object Class 15

- Gross Obligations Incurred Outside the Federal Government by Major Function and Major

Object Class

- Gross Obligations Incurred Outside the Federal Government by Department or Agency 16

- Gross Obligations Incurred Outside the Federal Government, Comparative Statement

by Months

ACCOUNT OF THE U.S. TREASURY

- status of the Account of the U.S. Treasury 18

- Analysis of Changes in Tax and Loan Account Balances 19

- Gold Assets and Liabilities of the Treasury 20

MONETARY STATISTICS

?i- Currency and Coin in Circulation

FEDERAL DEBT. ??

- Summary of Federal Debt

- Computed Interest Charge and Computed Interest Rate on Interest-Bearing Public Debt 22

- Interest -Bearing Public Debt 23

- Maturity Distribution and Average Length of Marketable Interest-Bearing Public Debt 23

- Government Account Series 2<4

- Interest-Bearing Securities Issued by Government Agencies 25

... pf- Participation Certificates

27- Debt Subject to Statutory Limitation

- Status and Application of Statutory Limitation 28

. . . . 29- Treasury Holdings of Securities

_D9Scriptionof Securities of CSovemment Corporations and Other Bisiness-Type Activ'ties^ ^^

feld_byJhe_Treasuiy . . . ._^

PUBLIC DEBT OPERATIONS

- Maturity Schedule of Interest-Bearing Marketable Public Debt Securities 35

- Offerings of Treasury Bills 3^

- New Money through Regular Weekly Treasury Bills 39

- Offerings of Public Marketable Securities Other than Regular Weekly Treasury Bills A3

// Treasury Bulletin

CONTENTS

PDO-5. - Unmatured Marketable Securities Issued at a Premium or Discount /i6

PDO-6. - Allotments by Investor Classes on Subscription for Public Marketable Securities 50

PDO-7. - Disposition of Public Marketable Securities 52

PDO-8. - Foreign Series Securities 55

PDO-9. - Foreign Ciirrency Series Securities 59

UNITED STATES SAVINGS BONDS

SB-l. - Sales and Redemptions by Series, Cumulative 62

SB-2. - Sales and Redemptions by Periods, All Series Combined 62

SB-3. - Sales and Redemptions by Periods, Series E through K 63

SB-/4. - Redemptions of Matured and Unmatured Savings Bonds 65

UNITED STATES SAVINGS NOTES

SN-l. - Sales and Redemptions by Periods 66

OWNERSHIP OF FEDERAL SECURITIES

OFS-l. - Distribution of Federal Securities 67

OFS-2. - Estimated Ownership of Public Debt Securities 68

TREASURY SURVEY OF OWNERSHIP

TSO-l. - Summary of Federal Securities 69

TSO-2. - Interest-Bearing Marketable Public Debt Securities by Type and Maturity Distribution.. 70

TSO-3. - Interest-Bearing Marketable Public Debt Securities by Issue 70

TSO-4.. - Securities Issued by Government Agencies 72

TSO-5 . - Securities Issued by Government -Sponsored Agencies and D.C 73

MARKET QUOTATIONS ON TREASURY SECURITIES

MQ-l, - Treasury Bills 77

MQ-2. - Treasury Notes 77

MQ-3. - Treasury Bonds 78

Chart - Yields of Treasviry Securities 79

AVERAGE YIELDS OF LONG-TERM BONDSAY-l. - Average Yields of Long-Term Treasury, Corporate, and Municipal Bonds 80

Chart - Average Yields of Long-Term Treasury, Corporate, and Municipal Bonds g]_

EXCHANGE STABILIZATION FUNDESF-l . - Balance Sheet 82

ESF-2 . - Income and Expense 83

INTERNATIONAL FINANCIAL STATISTICS

IFS-l. - U.S. Reserve Assets g,

IFS-2. - U.S. Liquid and Nonliquid Liabilities to Foreign Official Institutions, and LiquidLiabilities to All Other Foreigners 85

IES-3. - U.S. Liquid and Nonliquid Liabilities to Official Institutions of Foreign Countries,by Area g6

July 1976III

CONTENTS

IFS-4.

IFS-5.

IFS-6.

CM-I-1.

CM-I-2.

CM-I-3.

CM-I-4.

CM-I-5.

CM-I-6.

CM-I-7.

CM-II-1.

CM-II-2.

CM-II-3.

CM-II-4.

CM-II-5.

CM-II-6.

CM-III-1.

CM-III-2.

CM-III-3.

CM-III-4.

CM-IV-1.

CM-IV-2.

CM-IV-3.

CM-IV-4.

CM-IV-5.

CM-IV-6.

CM-IV-7,

CM-V-1.

CM-V-2.

CM-V-3.

CU-Y-A.

CM-V-5.

CM-V-6.

CM-V-7.

CM-V-8.

CM-V-9.

CM-V-10.

87• Nonmarketable U.S. Treasury Bonds and Notes

U.S. Position in the International Monetary Fund 88

Weighted Average of Exchange Rate Changes for the Dollar 89

CAPITAL MOVEMENTS

LIABILITIES TO FOREIGNERS REPORTED BY BANKS - U.S.

- Short-Term Liabilities by Type of Foreign Holder 92

- Short-Term Liabilities by Type of Liability 93

- Short-Term Liabilities by Country 95

- Short-Term Liabilities, by Type and Country 96

- Short-Term Liabilities, Not Regularly Reported Separately 97

98- Long-Term Liabilities by Type

99- Long-Term Liabilities by Country

CLAMS ON FOREIGNERS REPORTED BY BANKS - U.S.

- Short-Term Claims by Type '-°°

- Short-Term Claims by Coimtry1 OP

- Short-Term Claims , by Type and Country

103- Long-Term Claims by Type

- Long-Term Claims by Country105

- Long-Term Claims, by Type and Country

LIABILITIES TO FOREIGNERS REPORTED BY NONBANKING CONCERNS - U.S.

- Liabilities by Type107

- Short-Term Liabilities by Country108

- Short-Term Liabilities , by Type and Country

109- Long-Term Liabilities by Country

CLAIMS ON FOREIGNERS REPORTED BY NONBANKING CONCERNS - U.S.

- Claims by Type •'•^^

- Short-Term Claims by Country112

- Short-Term Claims, by Type and Country

- Short-Term Liquid Claims Reported by Large Nonbanking Concerns, by Type 113

- Short-Term Liquid Claims Reported by Large Nonbanking Concerns, by Country II3

- Short-Term Liquid Claims Reported by Large Nonbanking Concerns, by Type and Country... 114

- Long-Term Claims by Country 115

TRANSACTIONS IN LONG-TERM SECURITIES BY FOREIGNERS

- Foreign Purchases and Sales of Long-Term Domestic Securities

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

11.7- Net Foreign Transactions in Marketable U.S. Treasury Bonds and Notes by Country

- Estimated Foreign Holdings of Marketable U.S. Treasury Bonds and Notes by Country

119- Net Foreign Transactions in Long-Term Domestic Bonds

120- Net Foreign Transactions in Domestic Stocks by Country

I2I- Net Foreign Transactions in Long-Term Foreign Bonds by Country

122- Net Foreign Transactions in Foreign Stocks by Country

- Foreign Purchases and Sales of Long-Term Securities, Latest Date

- Foreign Purchases and Sales of Long-Term Securities, Latest Year 12-4

IV Treasury Bulletin

CONTENTS

FOREIGN CREDIT AND DEBIT BALANCES IN BROKERAGE ACCOUNTS

CM-VI-1. - Foreign Credit Balances (Due to Foreigners) 125

CM-VI-2, - Foreign Debit Balances (Due from Foreigners) 126

FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS

FEDERAL CPEDTT PPOGPAMS

GA-II-1 . - Direct Sales and Hejurchases of Loans ' i27Cumulative Table of Contents 128

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

July 1976

Treasury Financing Operations

Auction of 2-Year Notes

On June 15 the Treasury announced that it woiild auction

$2,500 million of 2-year notes to refund $1,998 million of

notes maturing June 30, and to raise $502 million of new cash.

The notes offered were Treasiiry Notes of Series N-1978, to

be dated June 30, 1976, due June 30, 1978, with interest pay-

able semiannually on June 30 and December 31 in each year

until maturity. A coupon rate of '6-7/8^ was set after the

determination as to which tenders were accepted "on a yield

basis, the average of which translated into an average ac-

cepted price close to 100.000.

Tenders for the notes were received until 1:30 p.m.,

EDST, June 21, and totaled $'i,l60 million, of which $2,502

million was accepted at yields ranging from 6.96^, price

99.844 upto7.01!6, price 99.752. Noncompetitive tenders for

$500,000 or less from the public were accepted in full at the

average yield of accepted tenders, 6.99/S, price 99.739. These

totaled $496 million. In addition, $812 million of tenders

were accepted at the average-yield price from foreign and in-

ternational monetary authorities.

Tenders were received at Federal Reserve banks and

branches and at the Bureau of the Public Debt, Washington,

D. C. Bearer notes, with interest coupons attached, and notes

registered as to principal and interest were authorized to be

issued in denominations of $5,000, $10,000, $100,000, and

$1,000,000.

Auction of 5-Year Notes

On June 18 the Treasury announced that it would auction

$2,500 million of 5-year notes to raise new cash. The notes

offered were Treasury Notes of Series F-1981, to be dated

July 9, 1976, due August 15, 1981, with interest payable semi-

annually on February 15 and August 15 in each year until ma-

turity. A coupon rate of 7-5/8^ was set after the determi-

nation as to which tenders were accepted on a yield basis,

the average of which translated into an average accepted price

close to 100.000.

Tenders for the notes were received until 1:30 p.m.,

EDST, June 29, and totaled $5,495 million from the public, of

which $2, 501 million was accepted at yields ranging from?.60?,

price 100.076 up to 7. 645^, price 99.909. Noncompetitive ten-

ders for $500,000 or less from the public were accepted in

full at the average yield of accepted tenders, 7.63?, price

99.951. These totaled $383 million. In addition, $70 mil-

lion of tenders were accepted at the average-yield price from

foreign and international monetary authorities.

Tenders were received at Federal Reserve banks and

branches and at the Bureau of the Public Debt, Washington,

D. C. Bearer notes, with interest coupons attached, and notes

registered as to principal and interest were authorized to be

issued in denominations of $1,000, $5,000, $10,000, $100,000,

and $1,000,000.

52-Week Bills

On June 17 tenders were invited for $2,591 mill ion, or

thereabouts, of 364-day Treasury bills to be dated June 29,

1976, and to mature June 28, 1977. Tenders were opened on

June 23. They totaled $4,835 minion, of which $2,591 mil-

lion was accepted, including $92 mill ion of noncompetitive

tenders from the public and $1,128 million of the bills is-

sued at the average price to Government accounts and Federal

Reserve banks for themselves and as agents of foreign and in-

ternational monetary authorities. The average bank discount

rate was 6.081 percent. The issue was to refund $2,591 mil-

lion of bills maturing June 29.

13-Week and 26-Week Bills

Issues of regular weekly Treasury bills in June totaled

$22,200 million. These issues were offered for cash and in

exchange for bills maturing in the amount of $25,400 million.

There were two 13-week issues in the amount of $2,100 mil-

lion and one 13.^reek issue each of $2,300 million and $2,500

million. There were four 26.^eek issues each of $3,100 mil-

lion, $3,200 million, $3,400 million and $3,500 million, re-

spectively. Average rates for the new issues are shown in the

following table.

Date of issue

VI Treasury Bulletin

Treasury Financing Operations—Continued

Treasury RiiHg (Other than Sbort-datefi t^'ip

,?) - General

Treasury bills are sold on a bid basis. TBe face anotmt

is payable without interest at maturity. THesy are; issued in

bearer form only, and in denominations of $lDiPaCl,. $15,000,

$50,000, $100,000, $500,000, and $1,000,000 (maturity value).

Tenders are received at Federal Reserve banks and branches.

Each tender must be for a minimum of $10,000^. Tenders over

$10,000. must be in multiples of $5,000..

Banking institutions generally may submit tenders for

account of customers. Tenders may be made without deposit

by incorporated banks and trust companies and by responsible

and recognized dealers in investment securities. Tenders

from others must be accompanied by payment of 2 percent of

the face amount of bills applied for, unless the tenders are

accompanied by an express guaranty of payment by an incorp-

orated bank or trust congjany.

Noncompetitive tenders (without stated price), usually

for $500,000 or less from any one bidder, for each issue of

13-week, 26-week, and 52-week bills, are accepted in full at

the average price of accepted competitive bids for an issue.

Payment for accepted tenders must be made or completed

on the date of issue, in cash or other immediately available

funds or in a like face amount of Treasury bills maturing on

that date. Payment for 13-week, 26-week, and 52-week bills

may not be made by credit in Treasury tax and loan accounts.

Foreign Series and Foreign Currency Series

Foreign series securities issued in June totaled $747

million, consisting of one bill and two notes. Redeiqrtloins

for the month totaled $762 million. At the end of June, for-

eign series securities outstanding totaled $19,901 million.

(Details are shown on page 58 .)

Foreign currency series securities issued in Jvtne con-

sisted of a note denominated in Swiss francs equivalent to

$30 million. Redemptions for the month also totaled an e-

quivalent of $30 million. At the end of June foreign cur-

rency series securities outstanding totaled an equivalent of

$1,599 million and were all denominated in Swiss francs.

(Details are shown on page 61 .)

Note: Details of Treasury market financing operations are shown elsewhere in tables on public debt operations.

July 1976

FEDERAL FISCAL OPERATIONS^

Table FFO-1. - Summary of Fiscal Operations

(In millions of dollars)

Fiscal yearor month

196619671968196919701971197219731974S9751976 (Eat.)...

T.Q. (Est-X...

1977 (Est.)f...

1975-MayJune

JulyAugSeptOctNovEec

1976-JanFebMarAprMay

Fiscal 1976 todate

Budget receipts and outlays

Netreceipts1/

(1)

130,856

U9, 552

153.671187,784193,743188,392208,649232,225264,932280,997

297,53481.S94351,259

13,010r31,817

20,19723,58428,61519,31621,74525,995

25,63420,84520,43133,348

22,679- f

262,390

Netoutlays

2/

(2)

134,652158,254178,833184,548196, 588

211,425231,876246, 526

268,392324,601374,43298.543395,813

28,826r'30,2%

31,24930,63429,04432,42529,40131,792

30,72529,83329,05432,476

28,ao

335,043

Sxirplus

ordeficit (-)1-2

(3)

-3,796-8,702-25,161

3,236-2,845-23,033-23,227-14,301-3,460-43.604-76,898-16,649-44,551

-15,816r1,521

-11,249-7,050

-429-13,109-7,656-5,797

-5,091-8,987-8,623

872

-5,731

-72,653

Ueans of financing—net transactions

Borroring from the public—Federal securities

Public

debtsecuri-ties 2/

(4)

2,2796,79622,4767,52617,19827,21129,13130,88116,918

58,95390,00018,91267,601

11,4185,030

5,0519,4725,9358,3524,8009,850

7,757

9,4656,6201,4838,699

77,484

Agencysecxjri-

ties

(5)

4,0415,0795,944

-10,150-1,739-347

-1,269216

903-1,069

-200-44

-1,229

-6-55

-23

69

-5

-3

-24

-2

5

-6-32

-9

-82

Invest-

ments ofGovern-ment ac-

counts ^(6)

3,2449,0355,3208,52210,0627,4178,42011,82214,813

7,0312,299-1A3112,872

2,8564,407

-2,7732,290-2,518

-3,396-1,1391,611

-65498-706

54

4,581

-1,565

Total4+5-6

(7)

3,0762,83823,100

-11,1465,397

19,44819,44219,2753,009

50,85387,50020,00053,500

8,556567

7,8007,1898,463

11,7435,9368,215

7,8208,9727,3201,398

4,109

78,966

Cash and monetary assets (Deduct)

Within generalaccount of theU.S. Treasury

5/6/

(8)

-260-4,571-1,094

7601,746

8261,6682,068

-3,380

U.S.

Treasuryoperatingcash

(9)

-1,570

-6,788r-949

-3,390-630

6,961-203

-3,8441,971

3,53264

-4,0323,517

-3,383

564

Specialdrawingrights

2/

(10)

557290711-8

245

123n.a.n.a.n.a.

-55-20

-89-8

-20

64-29-1

41

-25-26

-17

-109

(11)

259-5

1,859808

-1,536-208

1,079-1,264

91647n.a.n.a.a.a.

234r49

-1,236-302508

-458372191

-22-184-231319

-19

-1,062

Goldtranchedrawingrights8/

(12)

-447-342538644802

-908-988

50

525

1,121n.a.n.a.n.a.

55r27

-4748-43

4749-24

9459

-32251

538

939

Treasury BulletinJ^DERAL FISCAL OPERATIONS^

Footnotes to Table FFO-1.

Source: Ifonthly Treasury Statement of Receipts ai»i Outlays of theUnited States GovemiDent.

Note: Revised Budget estinates based on the Hld-Session reTiew ofthe 1977 Budget, released March 25, 1976, are not available inthe necessary detail, eicept for total Net Budget receipts,outlays, and deficit. Other estimates are based on the 1977Budget of the U.S. Government, released Janiiar? 21, 1976.

For detail see Table FFO-2.For detail see Table FPD-3.As of July 31, 1974, public debt outstanding has been adjusted toexclude the notes of the International llonetaxy Fund to cooform withthe bxidget presentation.For detail see Table FTO-6.Current fiscal year to date transactions tbrough June 30, 1974 areon the Daily Statement of the U.S. Treasury clearance date basisand are converted to accounting date basis at June 30 (final) only.Prior fiscal year amounts include transactions in transit as of June30. For amounts In transit see Table FK)-10 in the October 1974Bulletin.As of July 1974, balances shoni under "lithln general account of the&/

u8/2/

20/

iVn.a.

U.S. Treasury" are now presented in columns 9, 11, and 13,Represents holdings of special drawing rights, less certificatesissued to Federal Reserve banks.Represents activity of the International ^toneta^y Fund.Includes: public debt accrued interest payable to the public, de-posit funds, miscellaneous asset and liability accounts, and'as ofJuly 1974, the gold balance.Includes: Seigniorage; increment of gold; fiscal 1969 conversions ofcertain corporations to private ownership; fiscal 1970 reclassifi-cation of Conmodlty Credit Corporation certificates of interest-fiscal 1974 conversion of interest receipts of Oovemnent accountsto an accrual basis; and net outlays of off-budget Federal agencies(Bcport-Import Bank since August 17, 1971, rural electrification andtelephone revolving fund sinde May 12, 1973, Postal Service fundsince July 1973, Federal Financing Bank since July 1974, housingfor the elderly or handicapped fund since August 22, 1974, and Pen-sion Benefit Guaranty Corjxjration since September 17 1974)For detail, see Table FD-6.

'

Not available. r Revised. » Less than $500,000.

Title V of the Coogressional Budget Act of 1974 (Public Law 93-344)

changed the fiscal year from July 1 through June 30 to Oct. 1 through

Sept. 30, ccnencing with the fiscal year 1977 (Oct. 1, 1976, through

Sept. 30, 1977). TJie act also established a 3-month transitional

period from July 1 through Sept. 30, 1976, between fiscal years 1976

and 1977. Budget estimates for the trensitional quarter are Included

in tables FFO-1 through FFO-4, and FFO-6.

July 1976

J'EDERAL nSCAL OPERATIONS.

Table FFO-2. - Budget Receipts by Source

4JEDERAL FISCAL OPERATIONS.

Treasury Bulletin

Table FFO-2. - Budget Receipts by Source—Continued

July 1976

FEDERAL FISCAL OPERATIONS.

1

.FEDERAL nSCAL OPERATIONS^

Treasury Bulletin

Table FFO-3. - Budget Outlays by Agency

////r 1976

.^FEDERAL FISCAL OPERATIONS,^

Table FFO-4. - Undistributed Offsetting Receipts


8

.FEDERAL FISCAL OPERATIONS.

Treasury Bulletin

g

////)' 7976

FEDERAL FISCAL OPERATIONS.

<a O lO

W t-> to t-O Of -^ (T-

g;^,

10

.FEDERAL FISCAL OPERATIONS*i

Treasury Bulletin

Table FFO-6. - Investment Transactions of Government Accounts in Federal Securities (Net)

July 1976.FEDERAL FISCAL OPERATIONS.

II

CO

cd

609O

"3•-8

OQ

so

BS

Ix.

oCl.

03

12 Treasury Bulletin


Table FFO-9. - Detail of Excise Tax Receipte

(In thousands of dollars)

Type of Tax

Alcohol taxes : 1/Distilled spirits.WinesBeer

Total alcohol taxes.

Tobacco taxes :

CigarsCigarettes.

.

Other 2/

1/

Total tobacco taxes.

excise taxes :Manufacturers

'

Gasoline .

Lubricating oil, etcTires, tubes, and tread rubberPassenger automobile chassis, bodies, etc. J/Trucks and buses, chassis, bodies, etc, ^Parts and accessories for automobiles,trucks, etc.Pistols and revolversFishing rods, creels, etcFirearms (other than pistols and revolvers)Shells and cartridgesBows and ArrowsOther i/

Total manufacturers' excise taxes.

Retailers 'excise taxes :

Noncommercial aviation gasoline 5/Noncommerical aviation fuel other than gasoline 6/.Diesel and special motor fuelsOther i/

Total retailers' excise taxes.

Miscellaneous excise taxes :

Telephone and teletypewriter exchange service 2/.Transportation of:

Persons by air 8/Property by air 2/ '.'.'.'.

Use of international air travel facilities 10/...Sxjgar.

Narcotics and marihuana, incl-uding occupational taxes 11/.Coin-operated gaining devicesWagering occupational tax 12/Wagers ly !!!.!.!!!!Use tax on civil aircraft IZ/ !!!!!!!]**Use tax on highway motor vehicles having a "taxable grossweight" exceeding 26,000 poundsAdulterated butter and filled cheese (imported anddomestic), process or renovated butter and imported oleo-margarine V?/

Firearms transfer and occupational taxesInterest equalization 16/ !!".]!!!Foreign insuranceExempt organizations, total ![!!!]!!!!

Net investment income 17/Self dealing 18/ .V. ..V/.V.^.Excess bmsiness holding 19/ !!.!!!!Taxable expenditures 20/ ......'.!!!.'!."!.'!!Failure to timely file certain information'returns'ji/!

!

Assessable penalties with respect to annual reports 22/.Failure to distribute income 2^/ \

Investments which jeopardize charitable purposes Zi,'/'.'..'.

Prohibited transactionsOther 4/

Total miscellaneous excise taxes

Total received with returns and from sales of stamps.

Unclassified excise taxes

Total excise taxes

Footnotes on following page.

1973

3,755,516191,025

1,202,973

5,149,513

53,7942,221,019

2,137

2,276,951

3,927,535103,0948U,042-83,241461,353107,489

8,33215,53923,40218,066

138

5,395,750

10,24623,613334,473

39

368,372

1,885,228

579,16737,21444,548

113,616257

7,286376

5,55319,293

188,517

12

17968,96514,65076,85376,617

7813

1

34

9416

-161

3,041,551"

16,232,137~

340,181"

16,572,318

Fiscal Year

1974

3,918,971173,515

1,265,990

5,358,477

51,5812,383,038.

2,387'

2,437,005

4,087,669105,723827,256

6,049519,699120,604

9,10018,25926,89120,863

40

5,742,154

10,87731,955

373,414«

416,244

1,892,731

659,17741,93156,908

120,006188

6,571107

6,45120,786

198,462

3

23263,32816,91470,25669,802

229

3

8

46*

1608

274

3,154,324~

17,108, 205~

1,646~

17,109,853

1975

3,865,162177,113

1,308,583

5,350,858

51,2262,261,116

2,748

2 il5,090

3,980,41291,053697,660

3,343534,158125,05211,33121,89929,43521,735

546-11

5,516,611

11,12722,573370,489

-2

404,187

2,023,744

750,64147,33252,594

103,769152

6,826227

5,54020,959

207,663

2

280

1,53619,45865,06963,828

32461

5491

360

39244

3,306,077

16,892,823

-45,08~

16,847,741

Second quarter of fiscal year

1975Jan - Mar. 1975

903,97046,827

289,214

1,240,011

11,884531,627

792

544,303

-2

1,386,053

2,9516,574

100,538

481,542r

182,63113,03111,74923,553

2636149

1,5044,661

38,577

-152

2794,732

11,63625/25/25/25/25/25/25/25/

29

774,411r

4,054,840

-206,912

3,847,928

1976Jan - Mar. 1976

949,84546,545

311,277

1,307,667

10,906662,157

960

674,022

1,012,606

July 1976 13


Footnotes to Table FFO-9.

Source: Internal Revenue Service reports. The figures shown include

collections for credit to special accounts for certain island

possessions. Floor stock taxes are Included with the related

classes of tax.

Note: Detail may not add to totals because of rounding.

1/ Releases showing details are published quarterly.

2/ Includes taxes on cigarette papers and tubes and miscellaneous tobacco

collections.

2/ Taxes on passenger autcanobiles and light trucks repealed December 11,

1971 under the Revenue Act of 1971. These data reflect refunds.

4/ Includes taxes on items which were repealed by Public Laws 87-456,

88-36, and 89-44.

5/ Under the Airport and Airway Revenue Act of 1970, effective July 1,

1970 rate 3 cents per gallon.


1970 rate 7 cents per gallon.

2/ Rate of 7 percent effective January 1, 1975 (Public Law 91-614).


1970, rate Increased from 5 to 8 percent on domestic airline passenger

fares

.

2/ Under the Airport and Airway Revenue Act ofrl970, effective July 1,

1970, rate 5 percent.


1970, tax of 13.00 per person.

11/ Repealed effective May 1, 1971 (Public Law 91-513).

Ig/ Tax increase from $50 to |500, effective December 1, 1974 (Public Law

93-499)

.

U/ Rate reduced from 10 percent to 2 percent effective December 1, 1974

(Public Law 93-499).y,/ $25 per year with an additional 2 cents per pound on nonturbine engine

powered over 2,500 pounds, or 3-1/2 cents per pound on turbine engine

powered

.

i;/ Filled cheese taxes repealed effective October 26, 1974 (Public Law

93-490)

.

16/ Legislative authority expired June 30, 1974.

17/ 4 percent of net investment income.

18/ Disqualified persons, 5 percent of amount involved; foundation managers,

lesser of $10,000 or 2-1/2 percent. If not corrected within 90 days,

200 percent on disqualified person and lesser of $10,000 or 50 percent

on foundation manager.

19/ Foundation, 5 percent of excess holdings. If not corrected within 90

days, 200 percent.

20/ Foundation, 10 percent of improper expenditure fovmdation manager,

lesser of $5,000 or 2-1/2 percent. If not corrected within 90 days,

foundation , 100 percent; foundation manager, lesser of $10,000 or

50 percent.

21/ Penalty of $10 per day, not to exceed $5,000.

22/ Penalty for willful failure to file of $1,000 for each report.

23/ Foundation, 15 percent of amount which should have been paid out. If

not corrected within 90 days, 100 percent.

24/ Foundation, 5 percent of Investment which jeopardizes exempt purpose;

foundation manager, 5 percent not to exceed $5,000. If not corrected

within 90 days, 25 percent on foundation and another 5 percent (up to

$10,000) on the manager.25/ Included in total. Separate detail not available.

» Less than $500,000.

r Revised

.

14Treasury Bulletin

.FEDERAL OBLIGATIONS.

"Obligations" are the basis on vhlch the use of funds

is controlled In the Federal Government. They are recorded

at the point at which the Government makes a firm comnltment

to acquire goods or services and are the first of the four

key events—order, delivery, payment, consxmiption—which

characterize the acquisition and use of resources. In gen-

eral, they consist of orders placed, contracts awarded, ser-

vices received, and similar transactions requiring the dis-

bursement of money.

-Qie obligational stage of Government transactions Is a

strategic point In gauging the ia^Act of the Government's

operations on the national economy, since It frequently rep-

resents for business firms the Government commitment vhlch

stimulates b\isiness investment, including Inventory purchases

and es^loyment of labor. Disbursements may not occur for

months after the Government places its order but the order

Itself usually causes 1 mnedlate pressure on the private

economy.

Obligations are classified according to a uniform set

of categories which are based iqpon the nature of the trans-

action without regard to its ultimate purpose. All payments

for salaries and wages, for exaaiple, are reported as per-

sonnel compensation, whether the personal services are used

in current operations or in the construction of capital items

.

Federal agencies and firms often do business with one

another; In doing so, the "buying" agency records obligations,

and the "performing" agency records reimbursements . In Table

FO-1, obligations that are Incurred within the Government are

distinguished from those Incurred outside the Government.

Tables FO-2, 3, and h show only those incurred outside.

Obligation data for the administrative budget fund ac-

counts were first published in the September I967 Treasury

Bulletin and the trust fund accounts were first published in

the October 1967 Bulletin. Beginning with the April 1968

Bulletin, the data are on the basis of the budget concepts

adopted pursuant to the recommendations of the President's

Comnisslon on Budget Concepts.

The February 1976 through May 1976 Obligations data are not includedin this issue due to certain unavoidable delays in processing.

This data will be published in subsequent Bulletins.

July 7976.FEDERAL OBUGATIONS-

15

Table FO-1. - Gross Obligations Incurred Within and Outside the Federal Government by

Object Class, January 31, 1976


Object class

Pgrsonal services and hpneflta

Personnel compensation

Personnel benefitsBenefits for fonner personnel.

nont.ractiml services and supplies

Travel and transportation of persons.

Transportation of things

Rent, communications, and utilities,.

Printing and reproduction

Other servicesSupplies and materials

Acquisition of capital assets

EquipmentLands and structuresInvestments and loans

Grants and fixed charges

Grants, subsidies, and contributions.

Insurance claims and indemnities

Interest and dividendsRefunds

OtherUndistributed U.S. obligations.

Obligations incurred abroad,,..

Unvouchered

Gross obligations incurred 1/.

Source: Reports on Obligations, Standard Form 225, from agencies.

1/ For Federal Budget presentation a concept of "net obligations

incurred" is generally used. This concept eliminates transactions

within the Government and revenue and reimbursements from the public

which by statute may be used by Government agencies without appro-

priation action by the Congress. Summary figures on this basis

follow. (This data is on the basis of Reports on Obligations

received from the agencies prior to reports submitted for Budget

Gross obligations incurred

Within

26,76a2,0437,203

9381,2491,785240

19,65814,768

8,8262,0578,909

54,40391,98717,098

819

-2,3884,034

115

260,508

308902

1,481218

7,7327,234

3,359321388

2627

5,936

2

8421

31,163

Total

26,7644,4297,203

1,2462,1523,266

45827,39022,002

12,1852,3789,297

54,42992,01523,034

819

-2,3884,876

116

291,671

presentation and therefore may differ somewhat from the Budget

docximent .

)

Gross obligations incurred (as above) 291,671

Deduct

:

Advances, reimbursements, other income, etc -46,408Offsetting receipts -29,214

Net obligations incurred

Table FO-2. - Gross Obligations Incurred Outside the Federal Government by Major Function

216,049

Major function

National defense

International affairs

General science, space, and technology..

Natural resources, enTlromnent, and

energy

Agriculture

Comoerce and transportation

Community and regional development . .

.

Education, manpower, and social services

Health

Incctoe security

Veterans >^nefits and services

Law enforcement and justice

General government

General revenue sharing

Interest

Total.

and Major Object Class, January 31, 1976


Personalservicesandbenefits

23,030

287

454

1,605

386

1,647

289

399

875

2,085

1,521

647

2,783

1

36,010

Major object class

Contractualservices and

supplies

26,713

520

2,056

1,935

895

915

187

664

1,470

826

570

198

1,671

38,638

Acquisition of capital assets

Equipment

,034

15

44

466

4

105

2

10

12

8

89

15

22

8,826

Lands andstructures

909

5

62

651

7

353

17

1

12

18

16

6

2,057

Investmentsand loans

291

2,751

3,200

2,082

3

39

201

76

8,909

Grantsandfiledcharges

208

364

221

2,517

989

4,945

6,532

12,276

17,743

92,684

3,364

629

269

5,251

16,315

164,307

Other

3,774

308

-6

-204

-2,117

5

1

-6

1

2

1

1,761

62,668

1,791

2,837

7,168

4,828

9,047

9,U5

13,354

20,H5

95.804

5,638

1,507

4,752

5,252

16,600

260,508

« Less than $500,000,


.FEDERAL OBUGATIONS.

g

§

a pa.(fl c ** p

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& c ««) o tcc ^ c£ « £t^ *^ *'

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(0 g ni <a « '» ft ft ft ^:: a « a « ;

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v« u a. £ o-

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r< o oI O ft A; sal

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. -rt on b 4>

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5 a ;;

o c a 4*-rl 5 3 C.+> O -^ Qa £ « ft

CS C ^ ft

9« a

July 1976

.FEDERAL OBUGATIONS.17

> A U.

00 <n


ACCOUNT OF THE U.S. TREASURY

Source and Availability of the Balance in the Account of the U.S. Treasury

The working cash of the Treasury is held mainly in

Treasury's accounts with Federal Reserve banks and branches.

As the balances in these accounts become depleted, they are

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

loan accounts with thousands of commercial banks throughout

the country.

Deposits to tax and loan accounts occxir in the normal

course of business under a uniform procedure applicable to all

banks whereby customers of banks deposit with- them tax pay-

ments and funds for the purchase of Government-, securities.

In most cases the transaction involves merely the transfer of

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

the same bank. On occasions, to the extent authorized by the

Treasury, banks are permitted to deposit in these accounts

proceeds from subscriptions to public debt securities entered

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

customers.

The tax and loan account system permits the Treasury to

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

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

tions. In this way the Treasury is able to neutralize the

effect of its fluctuating operations on bank reserves and the

econony.

A detailed description of the Treasury's depositary system

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

Treasury for 1973, pages 282-285.

Table UST-1. - Status of the Account of the U.S. Treasury

fin millions of dollars)

End offiscal yearor month

1966196719681969197019711972197319741975

197A-Deo.

1975-June

.

July.Aug..

Sept.

Oct..Nov.

.

Dec.

1976-Jan..Feb..Mar..

Apr.

,

May..

June .

Treasuiy operating balance 1/

Available funds indemand accounts at:

FederalReservebanks

766

1,3111,0741,2581,0051,274

2,3444,0382,919

5,773

3,113

5,773

2,7762,349

8,074

8,5174,9197,286

10,07710,3507,145

9,808

6,74611,975

SpecialdepositariesTreasury taxand loanaccounts

10,0504,2724,1134,5256,9297,3727,6348,4336,152

1,475

2,745

1,475

8781,214

2,162

1,2511,558

1,159

1,8991,682

864

1,723

1,4072,854

Otherdeposi-taries 2/

13910688

343

70

343

444-141529

5599

7

777

7

77 5/

Total

10,9175,6955,2985,8948,0458,75510,11712,5769,159

7,591

5,928

V,591

4,098

3,42310,76510,3276,4858,452

11,98212,0398,016

11,537

8,15914,836

FunSs in processof collectionthrough:

FederalReservebanks

370577

352393355419252243276

369

U9

369

121225

147

135109

162

183

168147

450

163235

Otherdepoei-taries ^

179117135

76

79

76

78

85

108

438652

1538956

152

5655

Time depositsand otherdepositaryaccounts

252266190158218187

544119

35

23

35

56-179

-196

99

7

4-296-298

4070

Coin,currencyand coinagemetal

775

1,159768553277441471586602752

599

752

756757

776818848868

907878878879

852819

Miscel-laneousitems

24

46

97100

49527149

89

36

33834650

Coldbalance

V

93

July 197619

.ACCOUNT OF THE U.S. TREASURY

Table UST-2. - Analysis of Changes in Tax and Loan Account Balances

(In milllc?nfi of dollars)


, ACCOUNT OF THE U5. TREASURY

.

Table UST-3. - Gold Assets and Liabilities of the Treasury

(In millions of dollars except ounces)

July 1976MONETARY STATISTICS

21

Table MS-1. - Currency and Coin in Circulation

(In millions of dollars except per capita figures)


.FEDERAL DEBT.

Table FD-1. - Summary of Federal Debt


(In ndlllana of dollars)

Amount outstanding

1966

196719681969197019711972197319741975

1974-Dec..

1975-ltay.June

July

Aug..

Sept.

Oct..Nov..Dec.

1976-Jan..Feb..

Mar.,Apr.,

May..

>/r 1976 23

.FEDERAL DEBT.

Table FD-3. - Interest-Bearing Public Debt



^FEDERAL DEBT.

Table FD-5. - Government Account Series

ply 1976 23

.FEDERAL DEBT.

Table FD-6. - Interest-Bearing Securities Issued by Government Agencies



Total

amountoutstandini

1/

Defense

Department

Family housingand homeownersassistance

Housing and Urban Development Department

FederalHousingAdminis-tration

GovernmentNationalMortgageAssociation

FederalNationalMortgageAssoc, g/'

Secondarymarketoperations

Other independent agencies

Eicport- T mportBank of theUnited States

Farm Credit Administration

Bank forcooperatives

2/

FederalIntennedlate creditbanis 2/

FederalHome LoanBank Board

19661967196819691970197119721973197<1975

1974-nec

,

T.975-toy.June

JulyAug.SeptOct..

Nov.,

Dec,

1976-Jan.Feb.,

liar.,

Ajir.

May.

13,377

18,A5524,399M,24912,51012,16310,89411,10912,012

10,943

11,323

10,99810,943

10,92010,92610,93510,93110,92810,904

10,90210,90710,901

10,870

10,861

2,1122,0361,9511,8631,7751,6831,588

1,4841,3821,276

1,312

1,2831,276

1,2691,2641,2561,242

1,2331,220

1,2111,2031,194

1,1841,176

441492548577517

437454412403487

440

485487

505517

534544549564

570584587

586

584

2,1104,8307,9008,6007,3206,0054,9204,4804,3704,260

4,280

4,2604,260

4,2254,2254,2254,225

4,2254,200

4,2004,2004,200

4,1804,180

3,2694,0795,887

1,3852,1642,5712,4721,8932,6251,8192,2212,894

2,593

2,893

2,5932,593

2,5932,5932,5932,5932,5932,593

2,5932,5932,5932,593

2,593

3811,0721,230

2,3933,3633,779 6

6665

5

10

End of

fiscal yearor month

Other independentagencies - Continued

PostalService

TennesseeValleyAuthority

Memorandum - Interest-bearingsecurities of non-Government agencies ^

Banks forcooperative!

2/

Federal home

loan banks

1/

Federalintermediatecredit banks

2/

Federall€mdbanks

FederalNationalMortgageAsBOciatic

2/6/

District of

ColumbiaStadiumFund

1966

19671968

1969197019711972

1973

19743975

1974-Deo.

1975- Ifcy..

June.

Jiily.

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

1976-Jan..Teb..Uar..

Apr..,

May...

250250250250

221

250250

250250250250250250

250250250250

250

235

417525

728996

1,3551,8552,255-

2,6962,075

2,175

2,1252,075

2,0752,0752,0752,0752,0752,075

2,0752,0752,0752,075

2,075

1,4111,5291,7901,8052,3382,4752,896

3,589

3,0012,896

2,9072,9393,1373,4243,6853,655

3,8333,880

3,8083,9173,343

6,3104,5384,7025,5249,914

7,9237,34812,14918,62221,250

23,4a

21,31521,250

21,56020,59020,57220,56920,92420,950

20,9Q719,99019,96019,96419,360

_L

4,2404,9425,7056,1886,6737,995

9,497

8,589

9,3389,497

9,6859,8089,7809,6319,4439,254

9,3179,3649,5579,9319,078

4,106

2(i Treasury Bulletin

FEDERAL DEBT.

Table FD-7. - Participation Certificates

(In millions of dollars - face amounts)

End of

fiscal year

or month

AgricultureDepartment

Commodity CreditCorporation

Retire- Out-Sales ments standing

Export-Import Bankof the United States

Retire-ments

OuVstanding

Participation certificates issued by GNMA acting as trustee

Retire-ments

Out-standing

Farmers Home

Administration 1/

Retire-ments

Out-standing

Health, Education,and WelfareDepartment 2/

Retire-ments

Out-s-tanding

19661967196819691970197119721973 ,

19741975

1974 -Dec.,

1975-May,

,

June,

July.

Aug..Sept.Oct..

Nov.

.

Dec.

1976-Jan..Feb..Mar..

Apr..May..

761

1,411 i7570

2,181 2,181

398650 2/53336932126860842327

1,3852,1462,1831,8141,4931,22661857624924<1

249

249249

252 2/252252252252

252

252252252

252252

1,8402,9003,2501,330

30180130630

1,2801,3151,085

440110

110

25

35

2,1104,8307,9008,6007,3206,0054,9204,4804,3704,260

4,286

4,2604,260

4,191 2/4,1914,1914,1914,1914,166

4,1664,1664,1664,1464,146

600525225 184

401

168

24

600.,125

.,166

765

685517

493493

492

492

492492

492492492492492492

492492492492492

10010015

100200212209207201199199

198

198

198198

198198198198198198

193193198198198

End of

fiscal yearor month

Participation certificates issued by GNMA acting as trustee - Continued

Housing and Urban Development Department

Office of Secretary i/

[Retire- yit-

Sales ments standing

Government NationalMortgage Association 2/

Retire- Xit-

tanding

.Small BusinessAdministration 6/

Retire- Jut-

standing

VeteransAdministration 7/

Retire- 3ut-

ments standing

(Memorandum)Commodity Credit Corp.(net certificates ofinterest authorized underCharter Act) 8/

Retire-

mentsOut-standing

1966196719681969197019711972197319741975

1974-Dec.

1975-May..J\me.

July.Aug..Sept.

Oct..Nov.

.

Dec1976-Jan..

Feb.

.

Mar..Apr.

.

May..

6801,140640 27

32496340534

6801,8202,4332,1091,146

741707707

707

707

707

707

707707707707707707

707707707707707

605740465140

205050

13419081193

9565

7616

19

785

1,4751,8911,897

1,7071,626

1,4331,3381,273

1,197

1,208

1,197

1,197

1,162 2/1,1621,1621,1621,1621,150

1,1501,1501,150

1,1401,140

350520

43050

7070

203225

91206

41

350800

1,1601,007

782691485

444444

444

444

444

444

444444444444444

444

444444444

444444

885260590260

10

606079

136

99107

243

45

30

10

16

13

9751,1751,7041,8851,7491,6501,5431,3001,255

1,225

1,234

1,225

1,225

1,187 2/1,1871,1871,1871,18^

1,174

1,1741,1741,174

1,164

1,164

436167

667

8551,021923

1,590

Source; Bureau of Government Financial Operations.1/ Includes the Direct Loan program through September 1972, the Agricul-

tural Credit Insxirance fund beginning October 1972, and the RuralHousing Loan programs

.

2/ Includes Construction of Higher Education Facilities, Health Profes-sions Education fund, and Nurse Training fund, beginning April 1968.

2/ Inftlxides $107 million refunding transaction.i/ Includes College Housing, Housing for the Elderly, and Public Facility

programs.

^ Includes Special Assistance, and Management and Liquidating programs.

6/

2/8/

2/

Includes programs for Disaster Loans, and Business Loans and Invest-ments,Includes Direct Loan and Loan Guaranty programs.In the case of Commodity Credit Corporation, participation certif-icates are called "certificates of interest" and are not included inthe Participation Sales Act of 1966. Amounts shown as sales and re-tirements represent the net excess transactions for the period. OnJuly 1, 1969, the amcunt outstanding was reclassified as agencysecurities.

Figures adjusted to correct errors in rounding.

>/): 1976 27

.FEDERAL DEBT,

Table FD-8. - Debt Subject to Statutory Limitation



Statutorydebtlimit

Debt outstanding sub-ject to limitation

TotalPublic debt1/

Other debt1/2/

Interest-bearing debtsubject to limitation

Public debt Other debt

Non-interest-bearing debtsubject to limitation

Public debt1/

other debt1/

19661967196819691970197119721973

19741975

1974-Deo.

1975-June

.

July.

Aug..

Sept.Oct..

Nov..

Dec . .

,

1976-Jan. .

.

Feb...

.Mar...

Apr . .

.

May...

June .

.

328,000336,000358,000377,000377,000430,000450,000465,000495,000577,000

495,000

577,000

577,000577,000

577,000577,000

595,000595,000

595,000595,000627,000

627,000

627,000636,000

320,102326,471350,743356,932373,425399,475428,576459,089476,006

534,207

492,967

534,207

539,259548,731554,714

563,084

567,889

577,754

585,515

594,996601,619

603,100

611,798621,556

315,831322,631344,716352,259369,463396,678425,813456,697473,618

532, 565

490,547

532,565

537,617547,089553,025561,385

566,185

576,035

583,792

593,257599,877601,360

610,059619,820

4,2723,8406,0284,6723,9622,7972,7642,3922,388

1,642

2,420

1,642

1,6421,6421,689

1,699

1,704

1,719

1,723

1,739

;,742

1,740

1,739

1,736

315,431322,286344,401351,729369,026396, 289425,360456,353473,238532,122

490,060

532, 122

537,211

546,722552,604

561,063

565,791575,657

581,861

592,874

599,224600,927608,077619,254

461512

3,818

3,8473,1371,9721,939

1,5671,563

1,642

1,595

1,642

1,6421,642

1,6891,6991,703

1,718

1,723

1,739

1,742

1,740

1,739

1,736

400345315530

437389

453343380

443

488

443

406

367421322

395379

1,931

384

653

4331,982

566

3,811

3,3282,209

325825825825

825825

825

Source: Monthly Statement of the Public Debt of the United States.Note: For debt sxibject to limitation since 1940, see Table 21 of the

Statistical Appendix to the Annual Report of the Secretary of theTreasury on the State of the Finances for fiscal 1975, For a summa-ly of legislation on debt limitation under the Second Liberty BondAct and the amounts of limitation, see Table 32 of the Statistical^ipendlic.

2/ Adjusted to exclude notes to IMF and other international lending or-ganizations from public debt and include them in "Other debt" toconform with the budget presentation and the source for this table.

2/ Consists of guaranteed debt of Government agencies, specified partic-ipation certificates. District of Columbia Stadium Bonds and notepof international lending organizations.


.FEDERAL DEBT.

Table FD-9. - Status and Application of Statutory Limitation

The Second Liberty Bond Act (31 U.S.C. 757b) , as amended,

provides that the face amount of obligations issued under

authority of that Act, and the face amount of obligations

guaranteed as to principal and interest by the United States,

shall not exceed in the aggregate $<;00 billion outstanding

at any one time. Public Law 94-334 provides that beginning

on June 30, 1976, and ending on September 30, 1976, the public

debt limit shall be temporarily increased by $236 billion.

The Act of June 30, 1967 (Public Law 90-39) provides

that the face amount of beneficial interests and participa-

tions issued under section 302 (c) of the Federal National

Mortgage Association Charter Act (12 U.S.C. 1717 (c)) during

the fiscal year 1968 and outstanding at any time shall be

added to the amount otherwise taken into account in deter-

miniiig whether the requirements of the above provisions are

met.

Part A. - Status Under Limitation June 30, 1976(In millions of dollars)

Public debt subject to limit;

Public debt outstandingLess amounts not subject to limit:

TreasuryFederal Financing Bank

Total piblic debt subject to limit.

Other debt subject to limit;

Guaranteed debt of Government agencies.

Specified participation certificates—Total other debt subject to limit

Total debt subject to limi t

Statutory debt limit

Balance of statutory debt limit

Part B. - Application of Statutory Limitation June 30, 1976


$620,433

613

(')

619,820

6011,13?

1,736

621,556

636,000

u,4a

Classifications Amount outstanding

Interests bearing debt:

Marketable:Bills:

TreasuryNotes:

TreasuryBonds:

Treasury

Total marketable

Nonmarketable:Depositary seriesForeign government series;

Dollar denominatedForeign currency denominated

Government account seriesInvestment seriesRE. A. seriesState and local government seriesUnited States individual retiremetit bondsUnited States retirement plan bondsUnited States savings bondsUnited States savings notes

Total nonmarketable

Total interest-bearing debt

Non-interest-bearing debt:

Matured debtOtherTotal noninterest-bearing debt

Total public debt outstanding

$161,198

191,758

39,626

392,581

19,9011,599

130,5572,263

(»)

2,06512121

69,733a3

226,673

619,254

460719

1,719

620,433

Source: Monthly Statement of the Public Debt of the United States.» $500 thoxisand or less.

July 1976 29.FEDERAL DEBT.

Table FD-10. - Treasury Holdings of Securities Issued by GovernmentCorporations and Other Agencies


.FEDERAL DEBT,

Footnotes to Table FD-10.

Source: Bureau of Government Financial Operations. 6/Note: These securities were issued to the Treasury in exchange for ad-

vances hy the Treasury frcm public debt receipts under congressional

authOTdzations for specified Government corporations and other agen- 7/cies to borroir frcm the Treasury. Further detail may be found in

the 1975 Statistical Appendix to Annual Report of the Secretary of .^the Treasxiry, pages 354-357, and the 1975 Combined Statement of Receipts,

Exi>enditures and Balances of the United States Government, pages 56^-

565. 8/1/ And predecessor agencies. Beginning fiscal 1957 figures exclude notes

previously issued by the Administrator in connection with informational

media guaranties. The obligation for these notes was assumed by the

Director of the United States Information Agent^', pin*suant to tiie act

approved July 18, 1956 (22 U.S.C. LW2), and thecnotes together withothers issued for the same purpose are included* in "Other."

2/ Farm housing and other loan programs, Agricultuinaa. Credit InsuranceFund (formerly Farm Tenant Mortgage Insurance Fund), Rural HousingInsurance Fund, and Rural Development Insurance Fund.

2/ Includes securities transferred from the Reconstruction Finance

Corporation.

^ Consists of notes issued to borrcw for: public facility loans; Lew

Rent Public Housing Fund; and advances for Naticmal Flood 'Insxjrance

Fund.

5/ Consists of liabilities taken over by the Association from the

Secretary in accordance with the act approved ^Augxist 2, 1954, and

notes issued hy the Association under authority of that act (12 U.S.

C. 1719 (c), 1720 (d), and 173. (d)) and also secxirities transferred 2/from the Reconstruction Finance Corporation,

Public Housing Administration 1960-1963; Federal Housing Administra-tion beginning January 1966; Housing Assistance Administration from

September 1968-December 1969.Consists of notes of: The Administrator, General Services Adminis-

tration, for defense materials procurement; the Secretary of Agri-culture; the Secretary of the Interior (Defense Minerals Erplo- -

ration Administration); and the Secretary of the Treasury througliMay 1964.Consists of notes issued ty the: United States Information Agency

for informational media guaranties (see footnote 1); Secretary of

Commerce (Maritime Administration) for the Federal Ship MortgageInsurance Fund, fiscal yeai;s 1963-67 and Federal Ship Financing Fund(NOAA), beginning December 1972; Virgin Islands Corporation frcmSeptember 1959-September 1968; District of Colxmibia Conmissionersfor the Stadixjm Sinking Fxmd beginning December 1971; Secretary ofthe Interior (Bureau of Mines) for development and operation of he-lium properties beginning May 1964; Bureau of Coimnercial Fisheriesfor Federal Ship Mortgage Insxirance Fund, Fishing Vessels from Jan-

uary 1966 - May 1967; and revenue bonds for Smithsonian Institution(John F. Kennedy Center Parking Facilities) beginning July 1968;Secretary of Transportation (Washington Metropolitan Area TransitAuthority) beginning December 1972; Health, Education, and Welfare,Office of Education (Student Loan Insurance Fund) frcm May 1973 -

August 1973; Pension Benefit Guaranty Corporation from September 19

74; Federal Railroad Administration, rail service assistance, begin-ning January 1976, and regional 2*ail reorganisation, April, 1976.

Outstanding loans cancelled pursuant to Public Law 93-426, datedSeptember 30, 1974,

Jifly 1976 31

.FEDERAL DEBT.

Table FD-11. - Description of Securities of Government Corporations and Other

Business-Type Activities Held by the Treasury, June 30, 1976


Title and authorizing act

District of Columbia:Stadium sinking fund. Armory Board, act ofJuly 28, 1958, as amended:

Note

Export-Import Bank of the United States,act of July 31, 1945, as amended:

Notes , Series 1978

Federal Financing Bank, act of Dec. 29, 1973:Advances

Federal Home Loan Bank Board, act of June 27, 1950as amended:Advances

Do

Total

Federal Housing Administration, act ofAug. 10, 1965:General insxirance fund:

AdvanceDo

AdvancesDoDo

AdvanceDoDoDoDoDoDoDo

AdvancesDoDoDoDo

Advance

Subtotal

Special risk insurance fund:Advances

DoDoDo

AdvanceDoDo

AdvancesAdvanceDoDo

AdvancesDoDoDoDoDo

Subtotal,

Total Federal Housing Administration

Government National Mortgage Association,act of Aug. 2, 1954, as amended:Emergency home purchase assistance fund:

Advances

Date of issue

Various datesdodododododo

dododo

Dec. 1,

52Treasury Bulletin

.FEDERAL DEBT.


Business-Type Activities Held by the Treasury,June 30, 1976-Continued



Jtdy 1976 33

.FEDERAL DEBT.


Business-Type Activities Held by the Treasury, June 30, 1976-Continued

34Treasury Bulletin

.FEDERAL DEBT.


Business-Type Activities Held by the Treasury, June 30, 1976—Continued



Jf^ly 1976 33PUBLIC DEBT OPERATIONS.

Table PDO-1. - Maturity Schedule of Interest-Bearing Marketable Public Debt Securities

Other than Regular Weekly and 52-Week Treasury Bills

Outstanding June 30, 1976

36

.PUBLIC DEBT OPERATIONS.

Treasury Bulletin

Table PDO-2. - Offerings of Bills

(Amounts in milliong of dollars

)

Description of new issue

Maturitydate

Number of

days tomaturity 1/

Arooxmt of

bidstendered

Amount of bids accepted

Totalamount

CTi com-petitivebasis 2/

On noncom-petitive

basis 2/

Amountmaturing onissue dateof newoffering

Totalunmaturedissues out-standing afternew issues

Regular weekly:(13-week and 26^eek)1976-Mar. 4

May

11.

18.

25.

Apr

,

1

,

8.

15.

29.

6.

13.

20.

27.

3.

10.

17.

24.

52-week:1975-June

Juiy 1976 37PUBUC DEBT OPERATIONS.

Table PDO-2. - Offerings of Bills-Continued

Issue date

Regular weekly:(13-week and 26-week)

1976-Mar.

11.

Apr.

May

52-week :

1975-June

July

Aug.

Sept.

Oct.

Nov.

Dec.

1976-Jan.

Feb.

liar.

Apr.

Uay.

June

18.

25.

15.

22.

29.

13.

10.

17.

24.

3..

1..

29..

26..

23..

21..

18..

16..

13.,

10^

9.,

6.,

4.

1.

29.

Short-dated:1976-Apr.

On total bids accepted

Average price

per hundred

98.67197.107

98.72197.226

98.74197.240

98.76497.329

98.75497.307

98.74797.324

98.77997.438

98.79697.427

98.75997.356

98.75697.301

98.71897.242

98.67397.105

98.61196.997

98.59096.991

98.62097.084

98.64097.121

98.64697.107

94.133

93.638

93.143

92.588

92.580

93.326

93.940

93.489

94.360

94.366

93.923

94.155

94.292

93.621

93.851

99.812

99.862

Equivalent averagerate 6/

( Percent

)

5.2595.723

5.0605.487

4.9815.459

4.8905.284

4.9305.327

4.9565.294

4.8315.068

4.7635.089

4.9105.230

4.9205.339

5.0725.425

5.2505.727

5.4955.908

5.5775.952

5.4605.768

5.3805.695

5.3565.722

5.803

6.292

6.782

7.331

7.340

6.600

6.010

6.440

5.578

5.572

6.010

5.781

5.645

6.309

6.082

4.840

5.510

Price per hundred Equivalent rate 6/

CSi competitive bids accepted

High

2/3/

2/

98.68597.144

98.72597.240

98.75397.251

98.76797.338

98.762 10/97.336

98.75397.333 11/

98.786 Ig/97.U998.80297.442

98.76497.367 12/

98.76997.321

98.720 IV97.259 IS/

98.68397.122 16/

98.61697.002 12/

98.60797.007 18/

98.62497.090

98.64197.131 12/

98.654 20/97.121 21/

94.207 22/

93.767 21/

93.226 2^92.620 25/

92.611

93.387 26/

93.980

93.510 22/

94.419

94.439 22/

93.952 22/

94.196

94.338 W93.652

93.867 21/

99.815

99.865

(Percent)

5.2025.649

5.0445.459

4.9335.438

4.8785.265

4.8985.269

4.9335.275

4.8035.046

4.7395.060

4.8905.208

4.8705.299

5.0645.392

5.2105.693

5.4755.898

5.5115.920

5.4445.756

5.3765.675

5.3255.695

Price per hundred Equivalent rate 6/

98.66397.093

98.71897.221

98.73897.234

98.76297.321

98.74997.295

98.74497.313

98.77797.432

98.79397.420

98.75897.348

98.75397.297

98.71597.240

98.66797.094

98.60996.993

98.58496.977

98.61897.079

98.63497.112

98.64297.101

(Percent)

5.2895.750

5.0725.497

4.9935.471

4.8985.299

4.9495.351

4.9695.315

4.8385.080

4.7755.103

4.9135.246

4.9335.347

5.0845.430

5.2735.748

5.5035.915

5.6025.980

5.4675.778

5.4045.713

5.3725.734

5.729

38PUBLIC DEBT OPERATIONS.

Treasury Bulletin

Footnotes to Table PDO-2

Source: Monthly Statement of the Public Debt of the United States and 13/Allotments. lA/

1/ The 13-week bills represent additional issues of bills with an 15/original maturity of 26 weeks. 16/

2/ For bills issued on or after May 2, 1974, includes amounts exchanged 17/on a noncompetitive basis by Government accounts and Federal Reserve 18/banks. 19/

1/ For 13-week bills, 26-week tenders for $500,000 or less from any one 20/bidder are accepted in full at average prices of accepted competitive 21/bids; for other issues, the corresponding amount is stipulated in 22/each offering announcemfent. 23/

^ Includes maturing short-dated bills issued Apr, 8, 1976. 24/5/ Includes maturing short-dated bills issued June 8, 1976. 25/6/ Bank discount basis. 26/2/ Except $120,000 at 98.691. 22/8/ Except $75,000 at 97.150. 28/2/ Except $2,000,000 at 97.428, $1,000,000 at 97.418, and $600,000 at 22/

97.345. iO/IQ/ Except $50,000 at 97.767. il/11/ Except $650,000 at 97.345. r

12/ Except $100,000 at 98.791.

Except $15,000 at 97.440.Except $540,000 at 98.726.Except $10,000 at 97.295.Except $70,000 at 97.218.Except $100,000 at 97.006.Except $10,000 at 97.110.Except $545,000 at 97.144.Except $50,000 at 98.659 and $752,000 at 98.657.Except $80,000 at 97.124.Except $70,000 at 94.337.Except $500,000 at 93,784 and $55,000 at 93.774.Except $15,000 at 94.000 and $10,000 at 93.000.Except $10,000 at 92.801, $10,000 at 92.650, and $ 1,000,000 at 92.630.Except $100,000 at 93.394.Except $510,000 at 93.519.Except $655,000 at 95.379.Except $1,000,000 at 93.992.Except $10,000 at 94.366 and $715,000 at 94.348.Except $1,300,000 at 93.873.Revised.

July 197639

PUBLIC DEBT OPERATIONS.

Table PDO-3. - New Money Financing through Regular Weekly Treasury Billsi/

(Dollar amounts in millions)

Description of issue

Issuedate

Ifaturitydate

Number ofdays to

maturity

Amountof bidstendered

Amountof bidsaccepted

Average rateof bidsaccepted 2/( Percent)

New moneyincrease, ordecrease ( -

)

1973-Jan.

May

July

Aug.

Nov.

1974-May

July

Aug.

4.

11.

18.

25.,

17.

24.

31.

U.

21.

28.

5.

12.

19.

26.

Sept.

15.

16.

23.

30.

6..

13.,

20.,

27..

5.,

11.,

18.,

25.

1.,

8.

15.,

22.,

29.,

5.

19.

26.

1973- Apr.July

Apr.

July

Apr,July

Apr.

July

1973-Aug.

Nov.

Aug.

Nov.

Aug.

Nov.

1973-Sept.Dec.

Sept.Dec.

Sept.Dec.

Oct.

1974-Jan.

1973- Oct.

1974- Jan.

1973- Oct.1974- Jan.

1973- Oct.1974- Jan.

1973- Nov.

1974- Jan.

Feb.

May

Aug.Nov.

Aug.Nov.

5

5

12

12

1919

2626

16

15

23

23

3029

1313

20

20

2727

43

11

10

18

17

25

24

1

31

14

16

15

14

2221

Aug.Nov.

40 Treasury BulletinPUBLIC DEBT OPERATIONS.

Table PDO-3. - New Money Financing through Regular Weekly Treasury Bills 1/ —Continued



Issuedate

Maturitydate

Number ofdays tomaturity

AiDoimt

of bidstendered

Aacuntof bidsaccepted

Average rateof bidsaccepted 2/( Percent)

New moneyincrease, ordecrease (-)

1974-00 1.

Nov.

Apr.

M»y

10.

17.

24.

31.

U..

21..

29..

5..

12..

2..

9..

16..

23.

30.

6..

13..

20..

27..

6.,

13.

20.

27.

3.

10.

17.

24.

1.

15..

22.

29.

1975-Jan.

Apr.

Jan.

Apr.

Jan.Apr.

Jan.May

Feb.

May

Feb.May

Feb.May

Feb.May

Mar.June

Mar.June

Apr.July

Apr.July

Apr,July

Apr.July

MayJuly

MayAug.

MayAug.

MayAug.

MayAug.

JuneSept.

JuneSept.

JuneSept.

JuneSept.

JulyOct.

JulyOct.

JulyOct.

JulyOct.

JulyOct.

Aug.Nov.

Aug.Nov.

Aug.Nov.

Aug.Nov.

9

10

1617

2324

301

1315

2022

2729

6

5

1312

3

3

1010

17

17

2424

1

31

8

7

15

14

2221

2928

5

4

12

11

1918

26

25

3

2

10

9

17

16

2423

3130

76

1413

2120

2828

91182

91182

91182

91182

91132

91182

91182

90181

91182

91182

91182

91182

91182

91182

91182

Ql

182

91

182

91182

91182

91182

91182

91

182

91182

91182

91182

91182

91182

91182

91182ol

182

91182

91183

3,1323,301

4,1692,958

4,7473,249

3,3e«3,459

3,412

3,307

4,4973,856

3,8773,690

4,1103,342

3,3933,819

5,4743,3U

3,7553,705

4,4424,416

4,7244,915

4,0883,582

4,0854,191

4,2445,044

4,1073,743

4,0964,653

3,4683,822

3,7974,768

4,5115,523

4,3034,533

4,0143,599

4,5984,331

5,0454,361

4,8814,729

4,0944,066

4,4235,479

4,4124,831

6,4264.831

4,5035,542

5,0574,820

2,7022,003

2,7032,003

2,7032,004

2,7051,998

2,7042,100

2,8022,104

2,8002,105

2,8022,102

2,804

2,104

2,8022,102

2,7052,201

2,7042,304

2,6032,206

2,6032,202

2,6002,301

2,7022,401

2,701

2,499

2,7042,503

2,7022,550

2,7012,501

2,6022,502

2,5032,502

2,5022,601

2,7032,700

2,7012,801

2,7042,702

2,7022,701

2,7012,701

2,8022,801

2,8052.801

2,8032,801

2,8022,803

6.6977.364

7.7237.829

7.5257.398

7.8927.766

7.8807.856

7.6047.552

7.5357.428

7.3287.369

7.5247.564

7.1736.911

7.1137.101

6.6986.681

6.6786.646

6.3706.373

5.6065.825

5.66?5.736

5.8005.800

5.4085.483

5.4565.675

5.6385.742

5.6225.655

5.3765.473

5.5435.669

5.5625.785

6.0216.352

5.5395.843

5.6536.067

5.7176.158

5.3565.481

5.1835.481

5.1155.412

5.2065.469

201

201

202

200

247

199

197

198

198

190

196

202

205

201

294

392

394

405

446

394

496

599

702

805

795

799

797

804

801

801

795

801

Footnotes at end of table.

July 1976 41

.PUBUC DEBT OPERATIONS.

Table PDO-3. - New Money Financing through Regular Weekly Treasury Bills i/—Continued

(Dollar amounts in millionE)


Issuedate

Maturitydate

Number ofdays tomatxirity



Average rateof bidsaccepted 2/(Percent)


1975- June

July

Aug.

1975- Sept.

1976-Jan.

5.

12.

3.

10.

17.

24.

31.

7.

U.

21.

28.

4.

11.

18.

25.

2.

9.

16.

23.

30.

6.

13.

20.

28.

4.

11.

18.

22.

29.

Sept.

Dec.

Sept.Dec.

Oct.1976ân.

1975 -Oct.1976ân.

l975-0ct.

I1976-Jan.

1*1975 -Oct.I1976ân.

iigys-Oct.11976-Jan.

1975-Nov.1976-Feb.

' 1975 -Nov.

11976-Feb.

~1975-Nov.1976-Feb.

1975-Nov.1976-Feb.

1975 -Dec.

1976-Mar.

1975 -Dec.1976-Mar.

1975-Dec.1976-Mar.

1975-Dec.1976-Mar.

Jan.Apr.

Jan.Apr.

Jan,

Apr.

Jan.Apr.

Jan.

Apr,

Feb.May

Feb.May

Feb.

May

Feb.May

1111

2

2

1615

2322

30

29

65

13

13

2019

2826

i.

1111

1818

26

25

2

1

15

15

2222

2929

56

1313

1920

2627

Mar.

42.PUBLIC DEBT OPERATIONS.

Treasury Bulletin

Table PDO-3. - New Money Financing through Regular Weekly Treasury BillslZ-Continued

(Dollar amounts in millions 1

Issuedate


Maturitydate

Number ofda^ tomaturity



Average rateof bidsaccepted 2/(Percent)


1Q76-Feb. 5

13

26,

AprT 22,

29,

May 6,

13,

20,

27.

June 3,

10.

17,

24,

1976-MayAug.

MayAug.

MayAug.

JulyOct.

JulyOct.

Aug.Nov.

Aug.Nov.

Aug.Nov.

Aug.Nov.

Sept.

Dec.

Sept.Dec.

Sept.Dec.

Sept.Dec.

65

1312

2726

22

21

2928

5

12

12

1918

2626

2

2

9

9

16

16

2323

91182

90181

91182

91

182

91

182

91182

91183

91162

91183

91182

91182

91182

91182

$4,5056,558

4,7096,212

4,7005,121

5,5045,370

5,572

6,033

5,557r7,703r

5,7396,519

4,624r6,508

4,9557,382

3,9156,567

5,5137,017

4,3585,364

4,3765,523

$3,1093,804

3,1023,902

2,902

3,731

2,5063,404

2,6093,502

2,603r

3,601

2,6033,602

2,502r

3,503

2,5003,602

2,5043,502

2,3083,400

2,1013,202

2,1053,103

4.8125.066

4.8725.133

4.8695.204

4.7635.089

4.9105.230

4.920

5.338

5.0725.425

5.2505.727

.495

.908

,577

,952

,460

,768

5.3805.695

5.3565.722

$708

700

199

-193

-195

-209r

-199

-205r

-ZULr

-295

-292

-293

-302

Source: See Table PDO-2.

1/ Excludes issues of strips of additional amounts of outstandingregular weekly bills for cash on June 5, 1974 ($801 million).

^ Equivalent average rate on bank discount basis.

J/ On June 11, 1974, the Treasury announced that the amount of bills

offered would be $200 million more than the amount maturing. Itstated that a foreign central bank would bid for $200 million of thebills in order to achieve a better balance between its holdings ofspecial Treasxiry issues and marketable Treasxiry issues.Revised.

J»h 1976 43

f^ .PUBLIC DEBT OPERATIONS.

Tab le PDO-4. - Offerings of Public Marketable Securities Other than

Regular Weekly Treasury Bills

(Dollar amounts in inilllons}

Date subscrip-



Table PDO-4. - Offerings of Public Marketable Securities Other than

;

Regular Weekly Treasury Bills—Continued

July 1976PUBLIC DEBT OPERATIONS.

45

Footnotes to Table PIX)-4.

Source: Bureau of the Public Debt. , .22/

Note: All securities (except EA A EO notes), except those bearing footnote f.

were sold at auction through competitive and noncompetitive bidding. ^/1/ For bill issues, always sold at auction, the rate shewn is the equi-

valent average rate (bank discount basis) on accepted bids. Other 40/securities issued at par except those bearing footnote 6 and those

sold at auction. For details of bill offerings see Table PDO-2. il/2/ From date of additional issue in case of a reopening.

2/ In reopenings the amoxint issued is in addition to the amount of ^2/original offerings

.

^ For securities exchanged for the new issues see Table PDO-7. i2/^ Tax anticipation bill, accepted at face value in payment of income

taxes due on the 15th of the month in which the bills mature. V*/6/ Sold at fixed price by subecription.

7/ Exchange offering available to owners of nonmarketable 2-3/^% Treasury A9/bonds. Investment Series B-1975-80, dated April 1, 1951. For furtherinformation on the original offering see Treasury Bulletin for- April 46/1951, page A-1.

2/ Issued to Federal Reserve banks and Govenunent accounts in exchange 47/for notes naturing August 15, 1974.

2/ Prices accepted ranged from 101.28 (yield 8.48*) down to 100.86 iS/(yield 8.65^ with the average at 101.00 (yield 8.59$).

12/ Prices accepted ranged from 101.50 (yield 8.67?) down to 101.01 i2/(yield 8.78*) with the average at 101.15 (yield 8.75*).

il/ Prices accepted ranged from 99.76 (yield 8.52*) down to 98.00 (yield JQ/8.70*) with the average at 98.70 (yield 8.63*) .

i^ Issued to Federal Reserve banks and Government accounts in exchange 51/for notes maturing September 30, 1974.

12/ Yields accepted ranged from 3.39* (price 99.75) down to 8.20* (price 52/100.09) with the average at 8.34* (price 99.84).

li/ Yields accepted ranged from 7.93* (price 99.787) down to 7.78* J^(price 100.349) with the average at 7.89* (price 99.937).

15/ Issued to Federal Reserve banks and Government accounts in exchange 54/for securities maturing November 15, 1974.

1^ Yields accepted ranged from 7.87* (price 99.685) down to 7.78* 55/(price 99.921) with the average at 7.85* (price 99.737)

.

12/ Yields accepted ranged from 7.86* (price 99.416) down to 7.75* ^(price 100.000) with the average at 7.82* (price 99.628) .

12/ Prices accepted ranged from 103.50 (yield 8.17*) down to 102.79 52/(yield 8.23*) with the average at 103.04 (yield 8.21*)

.

19/ Sale of a "strip" of Treasury bills consisting of an additional $200 58/million of each weekly series maturing from December 12, 1974,through January 9, 1975. 52/

20/ Issued to Federal Reserve banks and Government accounts in exchangefor notes maturing December 31, 1974. 60/

21/ Yields accepted ranged from 7.37* (price 99.781) down to 7.15*(price 100.183) with the average at 7.32* (price 99.872). 61/

22/ Prices accepted ranged from 102.20 (yield 7.27*) down to 101.80(yield 7.37*) with the average at 101.95 (yield 7.33*). 62/

22/ Prices accepted ranged from 100.91 (yield 7.18*) down to 100.80(yield 7.27*) with the average at 100.84 (yield 7.24*). 62/

24/ Issued to Federal Reserve banks and Government accounts in exchangefor notes maturing February 15, 1975. 64/

25/ Yields accepted ranged from 7.17* (price 99.814) up to 7.23* (price99.643) with the average at 7.21* (price 99.700). 65/




22/ Yields accepted ranged from 5.97* (price 100.056) up to 6.12* (price99.778) with the average at 6.09* (price 99.834)

.

52/22/ Prices accepted ranged from 101.51 (yield 7.45*) down to 101.07

(yield 7.54*) with the average at 101.21 (yield 7.51*). 7Q/2V Yields accepted ranged from 5.90* (price 100.082) up to 6.01* (price

99.757) with the average at 5.93* (price 99.991) . 21/22/ Yields accepted ranged from 6.40* (price 100.185) up to 6.60* (price

99.815) with the average at 6.51* (price 99.982). 2^2^ Yields accepted ranged from 8.15* (price 100.826) up to 8.37* (price 73/

98.947) with the average at 3.31* (price 99.455)

.

24/ Yields accepted ranged from 6.95* (price 100.234) up to 7.19* (price yj/99.865) with the average at 7.15* (price 99.925)

.

25/ Yields accepted ranged from 7.37* (price 100.009) up to 7.45* (price99.863) with the average at 7.43* (price 99.900) .

22/

2^ Issued to Federal Reserve banks and Government accounts in exchangefor notes maturing May 15, 1975. 2a/

22/ Yields accepted ranged from 7.60* (price 100.001) up to 7.74* (price

99.604) with the average at 7.70* (price 99.717)

.

*

Yields accepted ranged from 7.96* (price 100.212) up to 8.02* (price99.394) with the average at 8.00* (price 100.000)

.

Yields accepted ranged from 8.25* (price 100.000) up to 8.32* (price99.232) with the average at 8.30* (price 99.450).Yields accepted ranged from 6.79* (price 99.924) up to 6.92* (price99.683) with the average at 6.86* (price 99.794) .

Yields accepted ranged from 6.38* (price 100.153) up to 6.58* (price99.895) with the average at 6.54* (price 99.947).Yields accepted ranged from 6.50* (price 100.000) up to 6.69* (price99.650) with the average at 6.61* (price 99.797)

.


.

Yields accepted ranged from 7.49* (price 100.018) up to 7.53* (price99.945) with the average at 7.52* (price 99.963).Issued to Federal Reserve banks and Government accounts In exchangefor notes maturing Augxist 15, 1975.Yields accepted ranged from 7.75* (price 100.233) up to 7.97* (price99.695) with the average at 7.94* (price 99.768).Yields accepted ranged from 8.06* (price 100.343) up to 8.18* (price99.711) with the average at 8. 14* (price 99.921).Yields accepted ranged from 8.38* (price 99.943) up to 3.48* (price98.917) with the average at 3.44* (price 99.327).Yields accepted ranged from 8.15* (price 100.180) up to 3.29* (price99.926) with the average at 8.25* (price 99.998)

.

Yields accepted ranged from 3.45* (price 100.145) up to 8.56* (price99.773) with the average at 8.54* (price 99.840).Issued to Federal Reserve banks and Government accounts in exchangefor notes maturing Septenijer 30, 1.975.


.


.

Yields accepted ranged from 7.47* (price 100.055) up to 7.59* (price99.836) with the average at 7.55* (price 99.909).Issued to Federal Reserve banks and Government accounts in exchangefor notes maturing 11/15/75.Yields accepted ranged from 7.87* (price ICO. 027) up to 7.95* (price99.603) with the average at 7.92* (price 99.762).Prices accepted ranged from 101.73 (yield 8.21*) down to 101.34(yield 8.24*) with the average at 101.50 (yield 3.23*).Yields accepted ranged from 7.24* (price 100.018) up to 7.31* (price99.890) with the average at 7.23* (price 99.945) .

Yields accepted ranged from 7.43* (price 100.238) up to 7.53* (price99.898) with the average at 7.50* (price lOO.CXXD)

.

Yields accepted ranged from 7.35* (price 100.108) up to 7.42* (price99.306) with the average at 7.40* (price 99.892).Yields accepted ranged from 6.41* (price 99.935) up to 6.51* (price99.751) with the average at 6.49* (price 99.788).All accepted subscriptions were awarded at the price of 100.00(yield 8.00*)

.

Yields accepted ranged from 7.(X)* (price 100.000) up to 7.09* (price99.761) with the average at 7.05* (price 99.867).Prices accepted ranged from 102.14 (yield 3.05*) down to 101.42(yield 8.12*) with the average at 101.75 (yield 8.09?e)

.


.


.


.


.

All accepted subscriptions were awarded at the price of 100,00

:yield 7.875*).Prices accepted ranged from 97.50 (yield 8.11*) to 96.36 (yield

Yields accepted ranged from 7.08* (price 100.082) up to 7.19*(price 99.881) with the average at 7.16* (price 99.936).yields accepted ranged from 7.68* (price 99.796) up to 7.73*(price 99.625) with the average at 7.71* (price 99.593).

Yields accepted ranged from b.96* (price 99.844) up to 7.01*

^ price 99.752) with the average at 5.99* (price 99.789).Yields accepted ranged from 7.60* (price 100.076) up to 7.64*(price 99.909) with the average at 7.63* (price 99.951).Less than $500,000.Preliminary,

46.PUBUC DEBT OPERATIONS

Treasury Bulletin

Table PDO-5. - Unmatured Marketable Securities Issued at a Premium or DiscountOther than. Advance Refunding Operations

Description of

>/)' 1976 47_ PUBLIC DEBT OPERATIONS.

Table PDO-5. - Unmatured Marketable Securities Issued at a Premium or Discount

Other than Advance Refunmng Operations-Continued

Description

48PUBLIC DEBT OPERATIONS

Treasury Bulletin

Table PDO-5. - Unmatured Marketable Securities Issued at a Premium or DiscountOther than Advance Refunding Operations^-Continued

Description of securities

7-3/8* Note

7-3/8* Note

7-3/8* Note

7* Bond

7-3/4* Note

19826-3/8* Bona

Sf, Note

8-1/8* Note

V-7/8* Note

1984

6-3/8* Bond

2/15/81 -C

2A5/81-E

5/15/81-D

8/15/81

11/15/81-B

2A5/82 i/

5/15/82 -A

8/15/82 -B

11/15/'82.C

8A5/84

1985

July 1976 49.PUBLIC DEBT OPERATIONS.

Table PDO-5. - Unmatured Marketable Securities Issued at a Premium or Discount

Other than Advance Refunding Operations—Continued

Description of securities

8-l/4Sf Bond

6-3A* Bond

7H Bond

199^

8-1/256 Bond

1995

7-7/8* Bond

-8-3/8$ Bond

2CC0

8-1Ait Bond

5/15/90

2/15/93

5/15/93-98

5/15/94-99 1/

2/15/95-00

Date offinane ing

8/15/95-00

5/15/00-05

4/7/75

1/10/73

5/15/73

8/15/74

11/15/74

2/18/75

5A7/76

8/15/75

ll/17/*75

5/15/75

2/17/76

Ainount issued(In millions)

$1,247

627

40652

692

486400

885

196

(303

°41

150p752p

902E32p85p

751p

869p

313p801p

l,114p

c150p

l.OOlp

l,151p

220p630p

754P

(l,604p

215p403p

618p

Average priceper hundred

$99,455

99.50

98.7598.75

98.7098.70

103.04103.04

1U3.04

99.19199.191

96.7396.7396.73

99.32799.327

101.50

101.50

99.45099.45099.450

101.75101.75

EffectiveInterestrate

8.3l!6

6.79

7.117.11

8.468.46

8.378.37

H.37

7.957.95

8.068.068.06

8.U,8.44

8.338.33

8.308.308.30

8.248.24

Eligible securities exchanged

2/

2/

7-3/4*

i/



Table PDO-6. - Allotments by Investor Classes on Subscriptions for Public Marketable Securities

Part A. - Other than Bills 1/

{In millions of dollars)

Issues

July 1976 51


Table PDO-6. - Allotments by Investor Classes on Subscriptions for Public Marketable Securities

Part B. - Bills Other than Regular Weekly Series


32Treasury Bulletin

.PUBUC DEBT OPERATIONS.

Table PDO-7. - Disposition of Public Marketable Securities

Other than Regular Weekly Treasury Bills

(Dollar amounts in millions

)

Date of

I July 197653


Table PDO-7. - Di

Other than Reg

sposition of Public Marketable Securitiee

ular Weekly Treasury Bills—Continued(Dollar amounts in millions)


PUBUC DEBT OPERATIONS.

Footnotes to Table PDO-7

Source: Bureau of the Public Debt. 16/1/ Original call and maturity dates are used

,

2/ All bv investors other than Federal Reserve banks

.

j/ Tai anticipation issue: for detail of offerings beginning August 1974,

see Table PDO-4; for ajDOunts redeemed for taxes and for cash see iZ/"Note" below.

Jt/ Exchanged by Federal Reserve banks and Government accounts for $233

million of 7-3/4!f notes of Series B-1977 and $92 million of 7-1/2? iS/bonds of 1988-93 issued August 15, 1973.

.5/ Exchanged by Federal Reserve banks and Government accounts for $495

million of 7-3/4^ notes of Series B-1977 and $233 million of 7-1/2?

bonds of 1988-93 issued August 15, 1973. 12/h/ Exchanged by Federal Reserve banks and Government acccwnts for $220

million of 7? notes of Series C-1979, $220 million of 7? notes of 2S/Series H-1975 and $136 million of 7-1/2? bonds of 1988-93 issued

November 15, 1973.2/ Exchanged by Federal Reserve banks and Government accounts for $307

million of b-l/Sf, notes of Series C-1977, $25 million of 7? notes of 21/

Series A-1981 issued Februaiy 15, 1974, and $10 million of 7-1/2?

bonds of 1988-93 issued February 28, 1974. ^2/

^ Exchanged by Federal Reserve banks and Government accounts for $302

million of 7? notes of Series A-1981 Issued February 15, 1974, and

$240 million of 7-1/2? bonds of 1988-93 issued Februaiy 28, 1974. ii/0/ Exchanged by Federal Reserve banks and Government accounts for $656

million of 8-3/4? notes of Series 1-1976 and $343 million of 8-3/4? iA/notes of Series C-1978 issued May 15, 1974.

iO/ Exchanged by Federal Reserve banks and Government accounts for $240

million of 8-3/4? notes of Series C-1978 and $279 million of 8-1/2?

bonds of 1994-99 issued May 15, 1974. 25/

n/ Exchanged by Federal Reserve banks and Government accounts for $2,936

million of 9? notes of Series D-1977, $2,461 million of 9? notes of 26/

Series B-1980 and $486 million of 8-1/2? bonds of 1994-99 issued

August 15, 1974.

12/ Exchanged by Federal Reserve banks and Government accounts for 8-1/4? ^2/notes of Series J-1976 issued September 30, 1974.

13/ Exchanged by Federal Reserve banks and Government accounts for $1,059

million of 7-3/4? notes of Series E-1977, $949 million of 7-3/4? notes 28/

of Series B-1981 and $196 million of 8-1/2? bonds of 1994-99 issued

November 15, 1974.

Li/ Exchanged by Federal Reserve banks and Government accounts for 8-1/2? ,„ ,

bonds of 1994-99 issued November 15, 1974. =2/

J^ Exchanged by Federal Reserve banks and Government accounts for 7-1/4?notes of Series K-1976 issued December 31, 1974. •22'

Exchanged by Federal Reserve banks and Government accounts for $692

million of 7-1/8? notes of Series D-1978, $400 mill ion of 7-3/8?notes of Series C-1981 and $36 million of 7-7/8? bonds of 1995-2000Issued February 18, 1975.Exchanged by Federal Reserve banks and Government accounts for $4

million of 7-1/8? notes of Series D-1978 and $114 million of 7-7/8?bonds of 1995-2000 Issued February 18, 1975.Exchanged by Federal Reserve banks and Government accounts for $2,300million of 7-5/8? notes of Series E-1978, $1,233 million of 8? notes

of Series A-1982 and $630 million of 8-1/4? bonds of 2000-05 issued

May 15, 1975.Exchanged by Federal Reserve banks and Government accounts for 8-1/4?bonds of 2000-05 issued May 15, 1975.Exchanged by Federal Reserve banks and Government accounts for $1,372million of 7-7/8? notes of Series F-1978, $902 million of 8-1/8? notes

of Series B-1982 and $313 million of 8-3/8? bonds of 1995-2000 issued

August 15, 1975.Exchanged by Federal Reserve banks and Government accounts for

8-3/8? notes of Series M-1977 issued September 30, 1975.


million of 7-7/8? notes of Series C-1982 and $150 million of 8-3/8?bonds of 1995-2000 issued November 17, 1975.Exchanged by Federal Reserve banks and Govemnent accounts for 7-1/4?notes of Series P-1977 issued December 31, 1975.

Exchanged by Federal Reserve banks and Government accounts for

1368 million 7? notes of Series H-1979, $1,939 million 8? notes

of Series A-1983 and $215 million of 8-1/4? bonds of 2000-05

issued Februaiy 17, 1976.Exchanged by Federal Reserve banks and Government accounts for

$1,232 million of 7? notes of Series H-1979 Issued February 17, 1976.

Exchanged by Federal Reserve banks and Governmentaccounts for $97 million of 6-3/4? notes of SeriesK-1978 issued March 31, 1976.

Exchanged by Federal Reserve banks and Government acccwnts for $276million of 7-7/8? notes of Series A-1986 issued 5/17/76 and $85 mil-lion of 7-7/8? bonds of 1995-2000 issued May 17, 1976.


million of 6-1/2? notes of Series L-1978 n.% million of 7-7/8?

notes of Series A-1986, and J32 million of 7-7/8? bonds of1995-2000 issued May 17, 1976.Exchanged by Federal Reserve banks and Government accounts for 7-1/8?notes of Series M-1978 issued June 1, 197b.

Exchanged by Federal Reserve banks and Government accounts for 6-7/8?Kites of aeries N-1978 issued June 30, 1976.

Note; Information on retirement of tax anticipation issues referred to

in footnote 4. in millions of dollars;

July 1976PUBLIC DEBT OPERATIONS,

53

Month of

activity

Table PDO-8. - Foreign Series Securities (Nonmarketable)

Issued to Official Institutions of Foreign Countries

(Payable in U.S. dollars; dollar amounts in millions)

Securities

1975 -June. Certificates of indebtedness

Issue

date

(3/05/753/17/756/05/75

12/02/7^12/06/743/03/753/03/753/12/753/13/753/13/753/18/753/19/753/19/753/19/753/27/754/01/754/01/754/02/754/07/754/07/754/08/754/29/755/06/755/06/755/06/755/06/75

5/06/75

5/12/755/12/75

5/U/755/15/755/15/755/20/755/23/755/23/755/23/755/27/755/27/755/27/755/27/755/27/755/27/755/27/755/27/755/27/755/27/756/03/756/03/756/03/756/03/756/03/756/12/756/13/756/13/756/18/756/19/756/27/756/27/75

6/25/716/05/756/19/756/19/756/19/756/25/75

4/09/754/15/754/17/754/17/754/21/757/10/757/10/757/17/757/17/757/24/75

1/09/751/28/753/06/754/08/754/10/754/17/754/24/754/28/754/28/754/30/755/02/755/05/755/05/755/06/755/07/75

Maturitydate

6/05/756/19/7512/04/75

6/02/756/05/756/03/756/03/756/12/756/13/756/13/756/18/756/19/756/19/756/19/756/27/757/01/757/01/757/02/757/07/757/07/757/08/757/29/758/06/758/06/758/06/758/06/75

8/06/758/12/758/12/75

8/U/758/14/758/15/758/20/758/22/758/22/758/22/758/27/758/27/758/27/758/27/758/27/758/27/758/27/758/27/758/27/758/27/759/03/759/03/759/03/759/03/759/03/759/12/759/12/759/15/759/18/759/19/759/27/759/27/75

6/25/756/04/754/19/775/19/776/20/776/25/82

7/10/757/17/757/17/757/17/757/24/7510/09/751/08/7610/16/7510/16/7510/23/75

7/10/757/29/759/04/757/08/757/10/757/17/757/24/757/28/757/28/757/30/758/01/758/05/758/05/758/06/758/07/75

Interestrate(Percent)

7.407.255.455.455.655.655.655.405.405.405.405.555.605.605.605.605.606.055.755.355.355.355.35

5.35

5.355.355.205.205.205.155.155.155.155.205.205.205.205.205.205.205.205.205.205.255.255.255.255.255.105.105.104.804.805.705.70

6.556.906.796.796.837.84

6.60

5.856.016.056.055.555.655.655.655.755.755.755.755.355.35

87

91369

172

200

303300

300600

81

74182160102

Retired

200903

2082

10

2

913

6

9171272

11

411

2

8

7

17

3

366

3

7

3

4

45

2016

3

17

15

3

14

8

5

2

13

47

2

600

80

447182182126

7980

5008

47

251612267

51

22239

Total outstandingend of month

21,617

I



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

(Payable in U.S. dollars; dollar amounts in millions)

July 1976.PUBLIC DEBT OPERATIONS.

37

Table PIX>-8. - Foreign Series Securities (Nonmarketable)

Issued to Offlcial Institutions of Foreign Countries—Continued



Table PDO-8. - Foreign Series Securities (Nonmarketable)

Issued to Official Institutions of Foreign Countries—Continued(Payable in U.S. dollars; dollar ajaounts in millions)

ply 1976 59


Table PDO-9. - Foreign Currency Series Securities (Nonmarketable)

Issued to Official Institutions of Foreign Countries


Month ofactivity

Payable Issuedate

Maturitydate

Interestrate(percent)

Amount(Dollar equivalent)

RetiredTotal outstandingend of month

1972-J-jly.

Aug.

Sept.

- 1973- Jan.

Apr.

July.

Aug.

1974TJan.

Certificates of indebtedness

Notes


Certificates of indehtedness


Notes

Notes

Certificates of indebtedness 2/

Notes 2/

Notes

Footnotes at end of table.



Notes

Notes


CSwiss francsSwiss francsGerman marks

Swiss francsSwiss francs


German marksSwiss francsSwiss francs

'Swiss francsSwiss francsSwiss francs

-Swiss francs

German marksSwiss francsSwiss francsSwiss francsSwiss francs


r Swiss francs/ Swiss francs

ISwiss francs

\.Swiss francs

fSwiss francsSwiss francs

German marks

ISwiss

I Swiss

JSwiss

\ Swiss

GermanSwissSwissSwissSwissSwissSwissSwissSwissSwissSwissSwiss

francs

francs

francs

francs

marksfrancsfrancsfrancsfrancsfrancsfrancsfrancsfrancsfrancsfrancsfrancs

/'Swiss francs/ Swiss francs\ Swiss francsLswiss francs

fSwiss francsSwiss francs

Swiss francs

SwissSwissSwiss

( Swiss

ISwissSwiss

1 Swiss

francsfrancsfrancsfrancsfrancsfrancsfrancs

German marks

j Swiss francs\swiss francs

fSwiss francs1 Swiss francs

i Swiss francs\Swiss francs

1/21/727/21/727/3/67

2/4/728/4/72

6/1/719/1/72

4/1/687/6/7110/6/72

8/6/718/19/71U/6/7211/20/74

6/24/689/10/719/13/7112/11/7212/13/72

7/21/721/19/73

10/8/7110/29/711/8/731/29/73

8/4/722/2A 3

8/19/69

12/9/71

3/9/73

1/19/73

2/2/73

10/2/693/27/715/18/725/30/729/1/7210/6/7211/6/72

11/20/7212/11/7212/13/72

1/8/731/29/73

1/5/721/17/724/5/734/17/73

1/19/737/19/73

2/2/73

8/27/715/18/725/30/728/2/73

8/20/738/27/738/30/73

3/3/72

9/1/7211/30/73

7/19/731/18/74

10/6/721/7/74

7/21/721/19/737/3/72

8/4/722/2/73

9/1/7211/30/73

10/2/7210/6/721/7/74

11/6/7211/20/72

2/6/742/20/74

12/22/7212/11/7212/13/723/11/743/13/74

1/19/737/19/73

1/8/731/29/734/8/744/29/74

2/2/738/2/73

2/19/73

3/9/73

6/7/74

7/19/73

8/2/73

10/2/738/27/738/20/738/30/7311/30/731/7/742/6/74

2/20/743/11/743/13/744/8/74

4/29/74

4/5/734/17/737/5/747A7/74

7/19/731/18/74

8/2/73

8/27/738/20/738/30/7311/1/7411/20/7411/27/7411/29/74

10/2/73

11/30/732/28/75

1/18/747/18/74

1/7/744/7/75

3.50

4.3755.28

3.6254.25

5.155.50

5.736.155.70

6.355.65

5.405.25

6.255.455.555.505.47

4.3755.25

5.254.855.706.00

4.255.75

3.05

4.80

6.625

5.25

5.75

2.0515.674.774.555.505.705.405.255.505.475.706.00

4.504.156.936.70

5.256.125

5.75

5.674.774.558.708.258.1258.20

2.051

5.506.98

6.1258.05

5.707.07

114

59

29

32

28526

3545

57

129

10

5

19

464

4

3

6

3

3

262

3

4

29170

64

38

40038

33

67

111

76

56

28

153

57

31

153275

26

33

43

57

154

111

25

U8

124

62

39137

383

172

32

127

65

I2,0

1,850

1,852

1,710

1,713

1,561

}'.

1,743

j1,746

1,758

)'

1,586

586

1,588


,^PUBLIC DEBT OPERATIONS.

Table PDO-9. - Foreign] Currency Series Securities (Nonmarketable)

Issued to Official Institutions of Foreign Countries —Continued

(Dollar ajDounts in millions)

July 1976 61


Table PIX)-9. - Foreign Currency Series Securities (Nonmarketable)

Issued to Official Institutions of Foreign Countries—Continued

(Dollar anoints in millions)

Month of

62Treasury Bulletin

.UNITED STATES SAVINGS BONDS.

Series E and Series H are the only savings bonds cur-

rently sold. Series E hsts been on sale since May 1, 1941,

and Series H has been on sale since J.une 1, 1952. Series

A - D were sold fromMarchl, 1935 through April 30, 1941.

Series F and G were sold from May 1, 1941. through April

30, 1952. Series J and K were sold from May 1, 1952 through

April 30, 1957. Details of the principal changes in issues,

interest yields, maturities, and other terms appear in the

Treasuiy Bulletins of April 1951, May 1952, May 1957, October

and December 1959, May and October 1961, June 1968, and

September 1970; and the Annual Report of the^ecretary of

the Treasury for fiscal years 1966 through 19'^'^^

Table SB-1. - Sales and Redemptions by Series, Cumulative through June 30, 1976

ply 1976 63


Table SB-d. - Sales and Redemptions by Periods, Series E through K


Sales 1/Accrueddiscoxmt

Sales plusaccrueddiscount

Redemptions 1/

Salesprice

^

Accrueddiscount 2/

Amount outstanding

Interests bearingdebt

Maturednon-interest-bearing debt

Series E and H Combined

125,1624,6504,9654,7394,5504,4495,0825,9396,5146,4296,826

127,301

4,8604,8984,6964,3934,6655,4776,2366,2706,8627,038-

565

601592

539

563

537557

693

607679

673

648603

21,8911,5421,6191,7311,7881,8412,0562,3102,5642,7493,252

22,650

1,5801,6801,7571,8321,9092,1922,4262,6732,994

3,368

292

307270277296272298

320

279290

306

281301

147,0536,1926,5846,4706,3376,2917,1388,2499,0789,17810,078

U9,9516,4406,5786,4526,2246,5747,6698,6628,9439,85610,406

857

909862816859809

855

1,013886969980

929904

98,2585,3055,4495,7156.1986,7215,4165,3315,5816,6756,517

100,702

5,4775,4395,9156,5656,2815,2375,3596,2066,8246,290

469

519558520520

444569

652

542572578

503

565

87,5134,4084,5364,7395,112

5,4844,3344,2944,4905,3615,172

89,559

4,5614,5194,8985,3915,0604,2174,3114,9725,471

4,959

369

408441411

415353451

517

4U441448

391

441

10,745897913976

1,0861,2371,0821,0371,091

1,3141,345

11,143

916919

1,0171,1731,2211,0201,0491,2341,353

1,331

100

11111810910591

117

134128131

130

112

124

48,79549,68250,81751, J7251,71151,28153,00355,92159,41861,92165,432

49,249

50,21251,35251,890

51,54951,84254,27557,57960,31763,34967,464

65,482

65,872

66,17666,47366,812

67,17767,464

67,82668,17068,56768,968

69,39469,733

Series F, G, J, and K combined ^Fiscal years :

19a-651966196719681969197019711972197319741975

Calendar years :

1941-65196619671968196919701971

1972197319741975

Month :

1975-Juiie

JulyAugSeptOctNovDec

1976-JanFebMarApr

UayJune

footnotes at ena or Table

31,951

31,951

,29912

1,305106

2

33,25012

33,25610

32,050522

353218

74137

5

5

5

1

30,706384

434239124

2475

4

41

30,84148132119465

11

65

4

4

,19635

382716

3

1

1

1

1

1,2104032

23

92

1

1

1

1

1,248856397140

1,07554022927

9986807576

49413430

2524

13115511810558

443732272221

24

232322222121

22212121

2120

64Treasury Bulletin


Table SB-3. - Sales and Redemptions by Periods, Series E through K—Continued


Period Sales 1/Accrueddiscount

Sales plusaccrueddiscount

Redemptions 1/

Salesprice ^

Accrueddiscount ^

Exchange ofE bonds forH bonds

Amountoutstanding( interest-bearing debt)

Series E

Fiscal years:

19a-6519661967196819691970197119721973\'m,1975

Calendar years:1941-651966196719681969197019711972197319741975

Mffn"ttigi

1975- June

JulyAugSeptOctNovDec

1976-JanFebMar

Apr

May

June

115,8624,2464,5994,4664,3434,2894,8705,6506,1906,1456,503

117,8264,4504,5744,4524,2214,5035,2185,9225,9886,5246,729

543

563566522

542

5U537

659577649

643

620584

21,8921,5421,6191,7311,7881,8412,0562,3102,5642,7493,252

22,6501,5801,6801,7571,8321,9092,1922,4262,6732,9943,368

292

307270277296272298

320279290

306

281301

137,7535,7876,2176,1966,1316,1306,9267,9608,7558,8949,755

140,4766,0316,2556,2096,0526,4127,4118,3488,6619,51810,097

835

870836799838786835

979856939

949

901884

95,4814,8014,8955,1545,5485,9594,9594,9725,2096,1566,063

97,6864,9134,9415,3005,8355,6264,8715,0075,7406,3185,886

438

481522

488483

413538

613510533

540

468523

84,7363,9043,9824,1784,4624,7223,8773,9324,1184,8424,717

86,5433,9974,0224,2834,6614,4053,8513,9584,5074,9654,555

338

371405380378322420

479383403

411

356399

10,745897913976

1,0861,2371,0821,0371,091

1,3U1,346

11,U3916919

1,0171,1731,2211,0201,0491,2341,3531,331

100

11111810910591

117

134128131

130112124

1,194212216196184210231292

338310310

1,286224207191180228249329319310326

26

263027292025

292631

272529

Series H

Fiscal years;1952-651966

>/)' 1976 65


Table SB-4. - Redemptions of Matured and Unmatured Savings Bonds



.UNITED STATES SAVINGS NOTES.

United States savings notes were on sale May 1, 196V

through Jvme 30, 1970. The notes were eligible for purchase

ty individuals with the simultaneous purchase of Series E

Isavings bonds.

The principal terms and conditions for purchase and re-

demption and information on investment yields of savings

notes appear in the Treasury Bulletins of March 1967 and

June 1968; and in the Annual Report of the Secretary of th6ri

Treasury for fiscal year 197^;.

Table SN-1. - Sales and Redemptions by Periods


July 1976 67

.OWNERSHIP OF FEDERAL SECURITIES.

Table OFS-1. - Distribution of Federal Securities by Classes of Investors and Types of Issues

(In millioDS of dollars)


196619671968196919701971197219731974

1975

1975- Jfay.

June

JulyAug.SeptOct.Nov.

Dec.,

1976- Jan..

Feb..

Mar..

Usy..

TotalFederalsecuritiesoutstanding

333,284344,676371,978367,969353,428410,292438,154469,251487,081544,131

539,157544,131

549,160558,637564,582572,929577,726587,553

595,308604,777611,391612,843621,533

Interest-bearing public debt securities

Totaloutstanding

315,431322,286344,401351,729369,026396,289425,360456,353473,238532,122

527,030532,122

537,2U546,722552,604561,063565,791575,657

581,861

592,874

599,224600,927608,077

Held by U.S. Government accounts

64,31671,80976,13884,81595,170102,888111,460123,385138,206145,283

140,875U5,283

142, 5U144,783142,266138,868137,731139,343

139,279

139,776

139,067139,122143,704

Marketable

12,05013,63514,69416,00716,97418,09219,86820,08021,229

20,471

20,12020,471

20,18120,07319,697

19,97619,59319,392

19,691

19,151

19,10419,10418,563

Nonmarketable

Governmentaccoimt series

50,19656,10359,37466,73876,12482,74089,536101,248114,921122,756

118,699122,756

120,275122,655120, 5U116,837116,083117,896

117,533


.OWNERSHIP OF FEDERAL SECURITIES.

Table OFS-2. - Estimated Ownership of Public Debt Securities by Private Investors

July 1976 69

TREASURY SURVEY OF OWNERSHIP, MAY 31. 1976.

The ncnthly Treaaory Skirvey of Ownership covers securities

Issued ty the United States Government, Federal agencies. Fed-

erally-sponsored agencies, and the District of Columbia. The

banks and insurance companies included in the Survey currently

account for about 80 percent of all such securities held by

these institutions. The similar proportion for corporations

and for savings and loan associations is 50 percent, and for

State and local governments, 40 percent. Data were first pub-

lished for banks and inairance conqjanies in the May 1941 Treas-

ury Bulletin, for corporations and savings and loan associa-

tions in the September I960 Bulletin, and for State and local

governments in the February 1962 Bulletin.

Holdings by commercial banks distributed according t.j

Federal Reserve metrdber bank classes and nonmember banks arn

pibllshed for June 30 and December 31. Holdings by corporate

pension trust funds are published quarterly, first appearing in

the March 1954 Bulletin.

Table TSO-1.-Summary of Federal Securities

(Par values - In millions of dollars)


.TREASURY SURVEY OF OWNERSHIP, MAY 31, 1976

Table TSO-2. - Interest-Bearing Marketable Public Debt Securities

by Tjrpe and Maturity Distribution

(Par values - in millions of dollars)

Classification

Totalamountoutstand

-

U.S. Govern-ment ac-counts andFederalReservebanks

Held by investors covered in Treasury Sxirvey

5,521coinDer-

cialbanks

2/

<i70mutualsavingsbanks

2/

Insurance companies

289life

i,AO fire,

casualty,andmarine

<i86

savingsand loanassocia-tions

*53

corpo-rations

State and localgovernments

315

general

186pensionand re-tirementfunds

Held byallotherinves-tors 2/

By type security :

Issued by U.S. Government:Treasury bills ,

Treasxiry notesTreasury bonds

Total ,

By matnritv distribution:

Call classes (due or firstbecoming callable):

Within 1 year1 to 5 years5 to 10 years

,

10 to 15 years ,

15 to 20 years20 years and over

Total ,

Maturity classes (finalmaturity)

:

Within 1 year1 to 5 years5 to 10 years10 to 15 years15 to 20 years20 years and over

Total

161,8^0186, .473

39,708

388,021

205,^31122,53634,14912,7348,4334,739

388,021

205,431121,11235,5735,9088,117

11,681

388,021

39,16453,33816,589

109,092

51,96735,15210,9555,5113,4262,081

109,092

51,96734,87011,2372,2433,6105,165

109,092

16,60150,4371.924

4773,072

452

6501,1212,118

4453,312

904

1,3622,730

296

9,4113,966

2;^4

5,5642,4701.059

416602

1.121

68,962

28,16335,4294,577

423331

38_

68,962

4,001

1,0002,129

529187108

48

3,889

751

1,643434744156162

4,001 3,8

28,16335,3594,647

218291283

68,962

1,0002,119

54015558

129

4,001

7511,366

711551235276

3,889

4,662

8312,0631,208

33315572

4,662

8312,0271,245

161186212

4,388 13,610 9,093 2,139

1,8952,235

1547315

16

11,0682,353

101

4540

3

6,3491,871

335

305

132102

440365

420410322

181

4,388 13,610 9,093 2,139

1,8952,211

178305321

11,0682,327

127

3521

33

6,3491,788417U5205189

440323462203251460

4,662 4,388 13,610 9,093 2,139

87,75165,42415.012

168,187

102,968

39,29715,4354,7023,7472.038

168,187

102,96838,72316,0092,1683,2055.U4

168,187

Footnotes at end of Table TSO-5.

Table TSO-3. - Interest-Bearing Marketable Public Debt Securities by Issue

(Par values - in millions of dollars)

Issue

Totalamountoutstand-ing 1/

U.S. Govern-ment ac-coxmts andFederalReservebanits

Held by Investors covered in Treasury Survey

5,521

commer-cialbanks

2/

mutualsavingsbanks

2/

Insurance companies

289

life

440 fire,

casualty,andmarine

486


453

corpo-rations


315

generalfunds


Held byallotherinves-tors y

Treasxirv Bills :

Regular weekly and annualmaturing:JuneJulyAug.Sept.Oct.Nov,Dec.Jan.Feb.Mar.Apr.May

Total Treasury Bills.

1976.1976.1976.1976.1976.1976.1976.1977.1977.1977.1977.1977.

Treasury Notes :

8-3/4if

5-7/86-1/27-1/2

8-1/46-1/26-1/47-1/87-1/4686-1/27-3/86-3/4

JuneAug.Aug.Aug.

Sept.Oct.Nov.Nov.Dec.Feb.Feb.Mar.Apr,May

1976-1.1976-L.1976-G.1976-C.1976^

.

1976-0.1976-D.1976-N.

1976-K.1977-F.1977-A.1977-G.1977-H.1977-1.

28,40432,51328,14019,46216,87217,5543,2533,0692,9303,1053,2033,335

161,840

2,7031,6623,8834,1942,0231,5794,3251,5072,2821,6655,1632,5761,5792,137

6,1987,1276,4125,0464,5824,882

863838684897782853

39,164

70565

1,8771,648

34286

325136286141

3,08546072

116

2,5021,8692,2312,2511,4662,133489323578789785

1,185

16,601

712

593834818

841520

1,213754843507595905735857

7677596750

321512

U452010

477

302326

34

19563245

34

3331

5751

54

16817158612725

2435

30

3021

650;

1

4

3

3

1

441

3

2

1

2

1

7

8110051

70

545610

5

6

36

4

445 ,

412

28

47261937233121

34292119

86101

107214172218

4980

131101

4558

1,362

3

3116

15

28507222

53472352

2983

7061,5311,6171,8951,407

84526860

208208295372

9,411

ST'

2137340

9336

47762

978611

14431

77

1,1421,0911,069

614452408181156151

84141

75

5,564

444050

35

3886

11518

3778

49463098

U794146181

6»

1

1

2

416

17,30020,35216,3919,2268,6628,949

1,3541,5581,128

9461,108

780

87,751

1,U6'681976

1,550

634719

2,0U445901

7441,331

875608826


ply 197671

TREASURY SURVEY C^ OWNERSHIP, MAY 31, 1976.

Table TSO-3. - Interest-Bearing Marketable Public Debt Securities by Issue—Continued

(Ear values - in millions of dollaxs

)

Totalamountoutstand-ing 1/

Held by investors covered in Treasury Survey

U. S. Govern-ment ac-counts andFederalReservebanks

5,521commer-cialbanks

2/

i70mutualsavingsbanks

2/

Insurance companies

289

life

AAO fire,

casualty,andmarine

<;b6


A53

corpo-rations


315

generalfunds


Held byallother,

inves-tors ^

Treasury Notes (Continued) :

6-7/8%

96-1/27-1/27-3/48-1/48-3/87-1/26-5/87-3/47-1/46-3/86-1/48

6-3/46-1/27-1/87-7/87-5/88-3/46

8-1/877-7/87-3/46-1/48-1/26-5/877-1/27-1/26-7/8

977-3/87-3/87-3/87-3/48

8-1/87-7/88

7-7/8Exchange Series.

Total Treasury Notes.

MayMayJuneJulyAug.Aug.Sept.Oct.Nov.Nov.Dec.Jan.Feb.Feb.

Mar.Apr.MayMayAug.Aug.Nov.Dec.

Feb.MayJuneAug.Sept.Nov.Nov.Dec.

Mar.MayAug.Feb.

Feb.Feb.MayNov,MayAug.Nov.

Feb.May

1977 -C.1977-D.

1977-J.1977-K.1977-B.1977-L.1977-M.1977-N.1977-Q.1977 -E.1977-P.

1978-J.1978-A.1978-G.1978-K.1978-L.1978 -D.1978-F.1978-E.1978 -C.1978-B.1978-H.1979-H.1979-D.1979-E.1979-A.1979-F.1979-B.1979-C

.

1979-0.1980-C

.

1980-A.1980-B.1981 -A.1981 -C.1981-E.1981 -D.1981-B.1982 -A.1982 -B.1982 -C.1983-A.1986-A.

Treasury Bonds :

4-1/43-1/4

43-1/276-3/86-3/83-1/46-1/84-1/447-1/24-1/83-1/28-1/46-3/478-1/2

37-7/88-3/83-1/28-1/4

MayJuneFeb.

Nov.Aug.Feb.Aug.MayNov.Aug.Feb.

Aug.MayFeb.MayFeb.MayMayFeb.Feb.Aug.Nov.May

1975-85...1978-83...19801980198119821984198519861987-92...1988-93...1988-93...1989-94...1990199019931993-98. .

.

1994-99. .

.

19951995-2000.1995-2000.

19982000-05...

Total Treasxiry Bonds

Total Marketable Public DebtSecurities

2,5655,3292,1701,5164,9182,0213,2263,1562,6283,6302,7652,5118,3892,1153,1622,5743,9604,4235,1552,4628,2072,5174,6922,2691,7824,5592,0811,6042,2412,0062,0697,2654,2961,8422,1682,6282,0204,4772,7472,9182,9027,9585,218

59_

186,473

1,1891,4252,5591,890

8072,702

2,353878

1,2163,418

215

1,9141,2793,4451,247627692

2,414664

1,7702,2652,5182,221

39,708

5542,976

24653

1,666177119140105

1,231312297

3,32136

213347916

1,4812,594

624

3,595119

1,65244768

1,758139

1,12542670

875,5612,662

54684512

87

1,7911,4051,042

5891,990

570

53,338

508282972

749408

1,0501,378

224884

1,43570

1,213550

1,091268209321

1,514134432818841

1,240

16,589

878691

934682

1,180888

1,1631,3491,3381,1871,4061,0581,785

658

1,417942

1,5721,2621,192

7031,7231,2661,4061,001

746760516172725776841609

449610738654701902330262

493884855

9_

50,437

6170

111

9939

503215

32

7775

4

1198

98

4370

128271650

41299

388,021 109,092

l,92.i

68,962

35

1452

83

52

47437967

4452

627715

65

35

78

9282

2961

69993991

37677

25

8350

3115

1212062

1021056850

55

104911

3,072

102221

2

231110

625

42

2

747517

2

7

96111

44

3

452

226

1612

21

16

46

4350

432610

531618

3

372818

2713128

3?

2

14

19252

6

23

3

7

3

15

272

15

15

5

28

41

404610

33277166

3551

1915

1919

112

31

10

4051527195

10

2354

4514715

4312

2117

62

8

27

362028

915

9310

1318

7335

91

308050

4557

52

577626

479981

87

4695

13982

125215

113132262

21310711

.312

34378458

5

7427265

112

4

2730

64915

3

24

9486619

52

904

34

4

454123

30

4875

6614

101125

19413

13973845<;

43

4165

3895

19

41

5415

20

3388

4935

1

35116

732630

91

2

16

311

2,730

9

246440

3

10

7

361

25

6

5

6262

11

5

4,001 3,889 4,662

296

4,388

17222

212

451002628

170103174126115

5977

114107

249758

47

34294114

32

31196

1354612

201

25

48

2410305

12

1212

3,966

3

2622

55*

14

25

3

4

5

2

15

16106

11

3

10*

3_

234

13,610

466

59988618

32

233622

3971

99378650

34691217

19328

4611

950251312

6314468

13

44182820

24261935

25

2,470

6882

140112

5

28

7410

9126

2

1419

122

1412

1317

3311

4688

14

1,059

1

1

2

141

3

2

2

3

3

1

24

9

417

1

6

1

16

915

636*

1

162

66

322

5

1215

1996

109

35

445

602

42

32

311

8

1

11

1442613

24

741282421

12620

6467

27154

9,093 2,139

7821,596

584

4821,714811

1,7191,238

840883691756

2,6841,2541,0951,0001,1331,3011,049

9822,221

8891,259

670713

1,7871,163

233831743931863

1,10448868

1,697914

1,354769

1,2811,3314,6303,437

9

65,424

381574947370

342973600337222

1,36170

506597

1,364582257190679415

1,0441,1621,312

726

15,012

168,187


72Treasury Bulletin

.TREASURY SURVEY OF OWNERSHIP. MAY 31. 1976,

Table TSO-4. - Securities Issued by Government Agencies

(Par values - In millions of dollars)

July 1976 73

TREASURY SURVEY OF OWNERSHIP.MAY 31, 1976,

Table TSO-5. - Securities Issued by Government-Sponsored Agencies

and the District of Columbia

(Far value - In millions of dollars)


TREASURY SURVEY OF OWNERSHIP, MAY 31, 1976 ,


and the District of Columbia—Continued

(Par value - in millions of dollars)

Totalamountoutstand-ing

1/

Held by investors covered In Treasury Survey

U.S. Govern-ment ac-counts andFederalReservebanks

5,521

coramer-

cialbanks

2/

470

mutualsavingsbanks2/

Insurance companies

289life

AAO fire,

casualty,andmarine

486savingsand loanassocia-tions

453

corpo-rations


315generalfunds


Federal Home Loan BanVa— r.nntinued :

FHLMC Mtg. Backed Bonds: 2/7.05^ Aug. 19766.15 Feb. 19778.60 Nov. 1976^95...

7.75 Aug. 1977-96...7.15 May 1982-97...

FHUC Mtg. Backed Certificates:8.20 Mar. 20058.75 Sept. 2005

8.55 Mar. 2006Issues to State and Local Gov'ts 2/2

Total

Federal Intermediate Credit Banks :

Debentures: 8/7.60 June 19767.70 July 19766.90 Aug. 19766.20 Sept. 19766.55 Oct. 1976

5.65 Nov. 19765.80 Deo. 19766.10 Jan. 19777.10 Jan. 19775.60 Feb. 19778.70 Apr. 19777.10 Jan. 19787.40 Jan. 19797.40 Jan. 19807.90 Jan. 1981

7.95 Apr. 1986

Total

Federal Land Banks :

Bonds:4-1/8 Feb. 1973-78...5-3/8 July • 19767.05 July 19767.15 Oct. 19767.20 Oct. 19767.45 Jan. 19778-1/4 Apr. 19776.25 July 19777-1/2 July 1977

6.35 Oct. 19776.60 Oct. 19778.70 Jan. 19785-1/8 Apr. 19787.60 Apr. 19786.40 July 19789.15 July 19787.35 Oct. 19785 Jan. 19797.10 Jan. 19796.85 Apr. 19798.55 Apr. 19797.15 July 19796.80 Oct. 19796.70 Jan. 19807.35 Apr. 19807-1/2 July 19808.70 Oct. 19806.70 Apr. 19819.10 July 19817.45 Oct. 19817.80 Jan. 19826.90 Apr. 19828.15 Apr. 1982

7.30 Oct. 19828.20 Jan. 19837.30 Oct. 19838.10 July 19858.80 Oct. 19857.85 Jan. 19887.95 Apr. 1991

Total

400350140150150

300200200360

19,360

783

503652742

934967

1,041758236

321406410531

433361

9,078

148150360450650750565

53755030040054615071426935055050830023565138';'-

400300600250400224265600400200300239464300391435420350

27

24

1,816

1306

37

4426182023

16

6442161415

471

2941

1

9466462929

a62

92519711

3936459

26

386

5

3611

867

475

337

52

3810

158775

6

3

36

4

3

16,060 933

4,116

25699

124

U324221122719796

85122128176

9318

2,216

291389

12317021013714212510011511018

2478371

1944686

4515111913290

1157364402412552

294725

54

4830152824

3,438

711

11

6

18

32

635

6

411

2439342922

4

11

204817

31

309

6

31117

21281119205

1818

4

308

4

7

1310195

173615262

1613

10192022

116

206

11

7

919

562

2

3

12

1

3

4

4

73

11

12

5

1

2

3

2

2

1

1

1

1

10

3

1

23

57

2

2

1

1

32

1

1

92

1

4

3

2

1010

2

3

4

42

136

10179

7

1

17

241510

47111

2

93

3

901

1310

917

5851672916

922

28

34303

395

31

1916

4635

U3612

10

2193

206

1

2611

401

12

936

452

U5

2

191

32

1

3*

1

1172

111

468

6

5

1613

137

232

28

18

307

5

173

201

11

195

3

5

2

11

72520106922

5

15

1

12

3

102

3

25

2

1

1

1

360

993

52

24

4327

444457

745

102

95

19

U428

2

65

922

351029531

12

3

8

7

2

5

14

6

7

1011

7

5

7

3

18

111

43

2

8

8

3

142

41816

912

4

1

1

24

6

301

31

507

55

6532

37

473 316 383 317

Footnotes at end of Table.

July 1976 73

TREASURY SURVEY OF OWNERSHIP, MAY 31, 1976.


and the District of Columbia—Continued

% Treasury Bulletin

.TREASURY SURVEY OP OWNERSHIP . MAY 31, 1976

Footnotes to Treasury Survey of Ownership Tables

1/

2/

y

y

Securities issued by the Treasury and Government agencies that are ^classified as debt under the new unified budget concept. For debt

subject to limitation, see Table FD-9. ^Includes trust departments, 2/Included with all other investors are those banks, insurance companies,

savings and loan associations, corporations, and State and local 8/

govemnent funds not reporting in the Treasury Survey. Also included

are certain Government deposit accounts and Government-sponsored 2/agencies.Data on the holdings of nonmarketable Public Eebt were no longer

collected beginning with July 1974 Treasuiy Survey of Ownership. »

Includes Export-Import Bank and Govemment National Mortgage ABSOci-ation participation certificates.Includes matured securities outstanding on which interest hae ceased.

Direct placements with State and local gcvemmenta with variousinterest rates and maturity dates.

Includes securities issued for use as collateral for short-termborrowings

.

Obligation of the Federal Home Loan Mortgage Corporation. The capitalstock of the Federal Home Loan Mortgage Corporation is held by the

twelve Federal Home Loan Banks,Less than $500,000,

July 197677

.MARKET QUOTATIONS ON TREASURY SECURITIES, JUNE 30, 1976

Current market quotations shown here are over-the-

counter closing bid quotations in the New York market for

the last trading day of the month, as reported to the Treasury

by the Federal Reserve Bank of New York. The securities

listed include all regularly ^quoted public marketable secu-

rities issued by the United States Treasury. Securities

issued by Federal agencies and guaranteed by the United

States Government are excluded.

Table MQ-1. - Treasury Bills

Amount outstanding(millions)

IS Treasury Bulletin

.MARKET QUOTATIONS ON TREASURY SECURITIES, JUNE 30, 1976

Table MQ-2. - Treasury Notes-Continued

////] /97679

MARKET QUOTATIONS ON TREASURY SECURITIES, JUNE 30, 1976.

iniri

oin

in

"5t

o inCO


AVERAGE YIELDS OP LONG -TERM BONDS.

Table AY-1. - Average Yields of Long-Term Treasury, Corporate and Municipal Bonds by Periods

Treasury

bonds 1/

An newcorporatebonds 2/

S. I. A.

nev AaTninicipalbonds 2/

Treasurybonds 1/

Aa newcorporatebonds 2/

Monthly series - aTeragea of daily or weekly series

Jan.

.

Feb..

M&r.c

Apr..

May..June.

July.

Aug..Sept.

Oct..

Rot..

Dee.,

Jan..Feb..Mar..Apr..

May..June.

July.tug..

Sept.Oct..

Hot.

Dec..

Jan.

.

Feb.Mar.

Apr.May.June.

July.

Aug.

Sept.

Oct.Hot.

Dec.

4.U4.154.154.15

4.U V4.14

4.154.194.254.284.344.43

4.434.614.634.554.574.63

4.754.804.794.704.744.65

4.404.47i.454.514.764.86

4.864.954.995.195.445.36

1965

3.003.083.103.053.103.20

3.203.153.303.303.353.45

3.653.633.653.453.603.70

3.804.103.933.853.903.80

3.403.503.503.553.833.90

3.903.854.004.104.304.35

5.185.165.395.285.405.235/

5.09

5.045.095.24

5.36

?.66

5.745.866.055.845.856.05

6.076.026.326.276.526.81

6.866.44 5/

6.706.535.946.99

6.576.755.636.595.245/5.97

1968

6.576.576.805.797.007.02

6.916.546.596.887.007.28

1959

7.297.337.767.547.628.04

8.068.053.358.46.3.94

9.22

1970

9.008.849.009.099.539.70

9.099.089.009.U8.978.13

S. I. A.

new Aa I

ounlcipal I

bonds 2/ J

Treasurybonds 1/


S. I. A.new Aamniclpalbcoads 2/ I

Treasurybonds 1/


S. I. A.new Aamniclpalbonds 2/

4.104.254.354.234.374.47

4.454.204.304.304.504.63

4.754.805.105.135.205.60

5.605.906.055.906.056.65

6.556.255.155.607.007.10

6.226.006.155.25

• 5.055.20

5.925.845.71

5.755.965.94

5.915.785.56

5.46^/5.485.52

5.625.675.665.745.545.59

5.59V5.595.705.695.51

5.63

5.96V5.L45.205.116.256.32

5.53

6.85V6.

a

6.255.306.35

1971

7.537.547.627.768.25 \

8.15

8.248.147.907.727.677.54

1972

7.367.577.537.777.517.53

7.727.597.727.667.467.50

7.617.677.757.707.597.73

7.978.458.107.977.958.09

5.405.105.005.11-5.80

5.89

5.965.625.204.874.925.02

4.995.055.295.305.225.26

5.28

5.195.265.09

4.944.97

4.995.115.225.025.04

5.13

5.225.404.984.985.144.97

6.56

6.546.817.047.09 V7.02

7.187.33 2/7.307.22

6.936.77

6.68 V6.566.77 V7.057.01^/5/6.86

6.89

7.11V7.287.297.217.17

6.935.926.886.73

7.016.92

1974

8.328.218.609.049.399.59

10.1810.3010.4410.2s

'

9.229.47

1975

9.178.849.489.819.769.27

9.569.719.899.549.489.59

1976

8.978.718.738.68

9.008.90

5.195.255.425.615.895.92

6.756.556.646.33

6.336.86

6.506.306.696.856.966.59

6.705.836.916.796.676.62

6.336.17

6.345.97

6.385.39

Treasurybonds 1/

Aa newcorporatebondE 2/

S. I. A.new Aamunicipalbonds 2/

PeriodTreasiuybonds 1/

Aa newcorporatebond 2/

S. I. A.new Aalainicipal

bonds 2/

PeriodTreasurybonds 1/


S. I. A.new Aamunicipal

bonds 2/

1975

Ji/ly 19^6 81

.AVERAGE YIELDS OF LONG-TERM BONDS.

82

, EXCHANGE STABILIZATION IFUND.

Treasury Bulletin

Table ESF-1. - Balance as of June 30, 1975 and March 31. 1976p

Assets, liabilities, and Capital June 30, 1975

July 1, 1P75

throughMarch 31, 1976p

March 31, 1976p

Account of U.S. Treasury (includes Undeposited Col-lections)

Federal Reserve Bank of New York, special account...

Total cash.

Special drawing rights 2/Special account of Secretary of the Treasury with Fed-

eral Reserve Bank of New York - Gold

Foreign exchange due from foreign banks: 1/Banque de FranceBanque Nationale de BelgiqueBank of CanadaDeutsche BundesbankBank of EnglandBanca d' ItaliaSveriges RiksbankBanque Nationale SuisseBank for International Settlements

Investments in;

U.S. Government securities.Foreign securities

Accounts receivable

Furniture and equipment (includes automotive equipment).Less allowance for depreciation

BuildingsLess allowance for depreciation.

Total assets.

Liabilities and Capital

Accounts payable

Special deposit accounts

Advances from U.S. Treasury (U.S. drawing on I.M.F.)Special drawing rights certificatesDeferred liability - Foreign Exchange Revaluation

Special drawing rights allocationsCapital account

Deduct subscription to International Monetary Fund.

Net income (see Table ESF-2)

Total liabilities and capital

$507,299.78Li2,078,776.33

?(2<1,039.57)

91,171,587.00)

$142,586,076.11

2, ,117,663,134. 23

273,266.99

117.10

1,451,408,190.41

26,

505,512.16198,185.57

50,000.0019,800.00

455,276.07

307,326.59

30,200.00

100,000.00

$4,038,823,587.50

2,000,000,000.001,800,000,000.00

27,819,215.11

500,000,000.00

2,836,307,525.68

,000,000.00

,696,846.71

200,

474,

$4,038,823,587.50

$(91,195,626.57)

(66,784,227.28)

(273,266.99)

123,815.4832,062.08

1,350.00

49,817,964.56

60,171,186.42

91,753.40

(1,350.00)

$(48,173,566.46)

71,524,495.94

(183,712,608.4^)

64,014,546.04

$483,260.2150,907,189.33

629,327.64230,247.65

50,000.0021,150.00

(48,173,566.46)

$51,390,449.54

,350,878,906.95

117.10

2,000,000,000.001,800,000,000.00

1,501,226,154.97

86,626,462.49

399,079.99

28,850.00

100,000.00

$3,990,650,021.04

99,343,711.05

500,000,000.00

2,652,594,917.24

200,000,000.00

538,711,392.75

$3,990,650,021.04

Note: Annual balance sheets for fiscal years 1934 through 1940 appearin the 1940 Annual Report of the Secretary of the Treasury and those forsucceeding years appear in subsequent reports. Quarterly balance sheetsbeginning with December 31, 1938 have been published in the TreasuryBulletin.

i/ Excludes foreign exchange transactions for future and spot delivery.

2/ Beginning July 1974, the IMF adopted a technique for valuing the SDHbased on a weighted average of exchange rates for the currencies of 16member countries. The United States SDR holdings and allocations arevalued on this basis beginning July 1974,

p Preliminary.

July 1976

.EXCHANGE STABILIZATION FUND^

83

Table ESF-2. - Income and Expense

Classification

January 31, 1934

throughJune 30, 1975

July 1, 1975through

March 31, 1976 p

January 31, 1934through

March 31, 1976 p

Income :

Profits on transactions in:

Gold and exchange (inclxiding profits fromhandling charges on gold

)

Sale of silver to U.S. Treasury

Silver

Investments

Miscellaneous

Interest on:

Inves tments

Special drawing rights

Foreign halances

Revalxiation of SDR holdings and allocations 1/,

Adjustment for change for valuation of SDR 2/..

Total income

Expense:

Personnel compensation and benefits.

Travel

Transportation of things

Rent, communinations, and utilities.

Supplies and materials

0*er _

Total

Prior Year Expense 2/-

Net income

$242,030,736.34 DR

3,473,362.29

102,735.27

1,325,207.14

229,586.37

816,950,795.33

91,443,114.65 DR

180,560,255.38

102,206,188.61 DR

32,830,517.79

J599, 792,419.97

$ 89,654,791.49

6,490,805.45

4,361,673.49

3,028,309.10

803,047.48

20,706,239.80

125,044,866.81

50,706.45

^474,696,846.71

22,812.57

4,877.70

59,626,444.53

9,638,222.24 DP

25,245.22 DR

25,933,910.76

t 75,924,578.10

I 8,837,636.89

664,093.86

74,226.28

616,929.86

96,541.70

1,616,042.97

11,905,471.56

4,560.50

64,014,546.04

f242,007,923.77 DP

3,473,352.29

102,735.27

1,325,207.14

234,464.07

876,577,239.86

101,081,336.89 DR

180,535,010.16

102,206,188.61 DP

58,764,428.55

^675,716,993.07

t 98,492,428.38

7,154,899.31

4,435,899.77

3,645,238.96

899,589.18

22,322,282.77

136,950,338.37

55,266.95

;538,711,392.75

1/ Revaluations of SDR holdings and allocations arising from the Par

Value Modification Act,as amended.

2/ Beginning July 1974, the IMF adopted a technique for valuing the SDR

based on a weighted average of exchange rates for the currencies of 16

member countries. The United States SDR holdings and allocations arevalued on this basis beginning July 1974.

2/ Represents Adjustment to Preliminary June 30, 1974, expenses,p Preliminary

,


.INTERNATIONAL FINANCIAL STATISTICS-

The tables in this section are designed to provide data

on United States reserve assets and liabilities and otherstatistics related to the United States balance of paymentsand international financial position. A number of changeswere introduced in the May 1967 and July 1972 issues of the

Bulletin to increase the usefulness of this section.

Table IFS-1 shows the reserve assets of the United States,

including its gold stock, special drawing rights held in ths

Special Drawing Account in the International Monetary Fund,

holdings of convertible foreign currencies, and reserve po-sition in the International Monetary Fund.

Table IFS-2 brings together statistics on liabilities

to foreign official institutions, and liquid liabilities to

all other foreigners, which are used in the United States

balance-of-payments statistics.

Table -tFS-3 presents an^rea breakdown of United Statesliabilities to official institutTons of foreign countries.

Table T?S-i, shows United States Treasury nonmarketablebonds and notes issued to official institutions of foreign

countries.Table IFS-5 sets forth the factors which affect the

United States position in the International Monetary Fund,

Table IFS-6 presents a measure of weighted-average

changes in exchange rates between the United States dollEir

and the currencies of certain other countries.

Table IFS-1. - U.S. Reserve Assets


End of

calendar yearor month

1957195819591960196119621963196419651966196719681969197019711972197319741975

1975-June.

July.

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

1976- Jan.

.

Feb..Mar..

Apr.

,

May..Jxme.

Totalreserveassets

2/

8/

2/

24,83222,54021,50419,35918,75317,22016,84316,67215,45014,88214,83015,71016,96414,48712,16713,15114,378 12/15,883 11/16,226 11_/

16,242 n/16,084 11/16,117 11/16,291 11/16,568 11/16,592 n/16,226 11/

16,622 11/16,661 S/16,941 11/

17,438 11/17,958 11/18,477 11/

Gold stock 1/

6/

2/

22,85720,58219,50717,80416,94716,05715,59615,47113,80613,23512,06510,89211,85911,07210,20610,48711,652 10/11,65211,599

11,620

11,61811,59911,59911,59911,59911,599

11,59911,599

11,599

11,59911,598

11,598

Treasury 2/

6/

2/

22,78120,53419,456Vr.'O.l

16,88915,97815,51315,38813,73313,15911,98210,36710,36710,73210,13210,41011,567 10/11,652

11,599

11,620

11,61811,59911,59911,59911,59911,599

11,59911,599

11,59911,59911,59811,598

Specialdrawingrights 2/

851

1,1001,958 2/2,166 12/2,374 11/

2,335 U/2,418 11/

2,329 11/2,321 11/2,301 11/2,365 11/2,336 11/2,335 11/

2,376 11/2,376 U/2,351 11/

2,325 11/2,309 U/2,316 11/

Convertibleforeigncurrencies jj

116

99212432781

1,3212,3453,528

2,781 7/629276 8/2a

8

5

80

25

2

2824741342380

3332%571936938

1,365

Reserve

July 1976 83

.INTERNATIONAL FINANCIAL STATISTICS.

Table IFS-2. - U^. Liabilities to Foreign Official InBtitutions

and Liquid Liabilities to All Other Foreigners

(In millions bf dollars)

End ofcalendaryear ormonth

Liquidliabilitiesto IMFarising fromgold trans-actions 1/

Liabilities to foreign countries

Official ijistitutions 2/

Short-termliabil-itiesreportedby banksin U.S.

Market-able U.S.Treasurybondsandnotes 2/

Nonmarket-able U.S.Treasuiybonds andnotes ^

Otherreadilymarket-ableliabil-ities

Liquidliabil-itiestobanks

6/

liquid liabilitiesto other foreigners

Total

Short-termLiabil-itiesreportedby banksin U.S.

ItAarket-

able U.S.Gov't,bondsand notes

2/7/

Liquidliabilitiesto nonmone-tary in-ternation-al and re-gional or-ganizations

8/

1957.

1958.1959.

1960 10/.

1961 10/.

1962 10/.

1963 10/.

196-i ID/.

1965

1966 10/.

1%7 10/.

1968 Ig/.

1969 10/.

1970 10/

1971 10/ 12/.

1972

1973

197;i 10/.

1975 . .

.

1975- May..June.

July..Aug...Sept..OctNovDec ...

1976-JanFeb...Mar. .

^r.pkby p.

11/

15,82516,84519,428

20,99421,027

22,85322,936

24,26824,268

26,43326,394

29,31329,364

29,568

31,144

,31,019

35,81935,667

38,687

_38,473

45,75545,9M

'47,009

46,960

67,68167,808

82,861

92,490 12/

rU9,240I 119,169

126,iWt

122,529122,409

123,313124,806123,688123,747126,880126,144

128,108131,039129,762

135,1351137,950

200200500

800800

800800

800800

800800

800800

834

1,0111,011

1,0331,033

1,0301,030

1,0191,019

566566

544544

7,9178,6659,154

10,21210,212

10,94010,940

11,99711,963

12,46712,467

13,22413,220

13,066

12,48412,539

-U,03414,027

11,31811,318

11,05411,077

19,33319,333

39,67939,018

61,526 40,000

66,861iy 43,923

53,057

n.a.10,120

11,07811,088

11,83011,830

12,94812,9U14,45914,425

15,79015,786

15,825

14,84014,895

18,20118,194

17,40717,340

15,97511/15,998

23,78623,775

51,20950,651

76,80176,823

80,262

80,199

81,109

80,34679,81278,45980,30579,84380,262

80,83581,45981,864

83,217,84,352

53,079:

1.9,170

52,522

52,148

50,55250,05148,29249,75449,31349,170

49,14749,65949,632

50,42651,491

n.a.n.a.966

876

890890

751751

1,2171,183

1,1251,125

1,105

860860

908908

529462

346346'

306295

1,9551,955

5,236

5,701

5,0595,059

6,598

6,064

6,139

6,1806,2966,4726,6446,4746,598

6,8396,9407,3387,632

7,668

200200

766766

1,2831,283

1,534

583583

1,4521,452

3,2193,219

3,070 U/3,070

3,4523,452

g.itsi

9,534

15,747 543

15,564 12/ 1,673

99

158158

913913

1,8071,807

2,3412,341

1,5051,505

695695

144144

16,33916,339

.19,976

18,067

19,169

19,61619,46619,66619,66619,72619,976

20,05120,05120,05120,151

20,151

L

2,3462,346

4,513

3,5463,653

3,9983,9994,0294,2414,3304,518

4,7984.8094,8435,008

5,042

3,4723,5204,678

4,8184,818

5,4045,484

5,3465,346

5,8175,817

7,2717,303

7,419

10,1169,936

11,20911,085

14,472U,472

23,63823,645

17,13717,169

10,26210,949

14,666

17,694

30,314

30,112

29,489

28,97227,988

29,03530,43630,35628,49532,27129,489

30,99333,19730,527

35,2a36,513

2,940

2,7732,780

2,8712,873

3,0133,013

3,3973,387

3,7303,753

4,059

4,2714,272

4,6854,678

5,0534,909

4,4644,589

4,6764,604

4,1384,141

5,043

5,932

8,803

8,912

10,765

9;0609,310

t 9,3359,6689,90110,02010,22110,765

10,75010,82411,64111,002

2,2522,4302,399

2,23c2,230

2,3552,357

2,5652,565

3,0463,046

3,3543,377

3,587

3,7433,744

4,1274,120

4,4444,444

3,9394,064

4,0294,039

3,6913,694

4,618

5,502

8,305

3,414

10,036

8,4378,656

8,6258,997

i

9,2009,2*29,51410,036

9,77410,07810,75710,11510,555

n.a.n.a.541

543550

516516

448448

351341

376376

528528

558558

609465

525

525

647565

447447

425

430

4^8498

729

623654

710671

701738707729

976746884887

870

7641,0471,190

1,5251,541

1,9481,949

2,1612,195

1,9601,965

1,7221,722

1,431

906905

&)1677

725722

659663

844846

1,5281,523

1,626

2,003

3,3223,322

5,6284',298

4,002

4,5974,8904,9724,9274,5455,628

5,5305,5595,7305,6755,660

Note; Table Is based on Treasury Department data and on data reported 2/to the Treasury Department by banks and brokers in the United States.

Data correspond generally to statistics follCTring in this section and 8/in the "Capital Movements" section, eicept for the exclusion of

nonmarketable, nonconvertible U.S. Treasury notes issued to foreign 2/official nonreserve agencies and the inclxision of investments by

foreign official reserve agencies In debt securities of U.S. Fed- 10/

erally-sponsored agencies and U.S. corporations. Table excludes

International Monetary Fund "holdings of dollars," and holdings of

U.S. Treasury letters of credit and nonnegotiable, noninterest-bearing

special U.S. notes held by other international and regional organ- 11/

izations.Includes liability on gold deposited by the International MonetaryFund to mitigate the impact on the U.S. gold stock of foreign pur- 12/

chases for gold subscriptions to the Fund xmder quota increases,

and U.S. Government obligationa at cost value and funds awaitingi

investment obtained from proceeds of sales of gold ty the Intei^

national Monetary Fund to the United States to acquire Income- earning

assets.Includes Bank for International Settlements and European Fund.

Derived by applying reported transactions to benchmark data; break-

do»n of transactions by type of holder estimated 1960-1963. i2/Excludes notes Issued to foreign official nonreserve agencies.

Includes long-term liabllltes reported by banks in the UnitedStates and debt securities of U.S. Federally- sponsored agencies

and U.S. corporations. n.a.

Includes short-term liabilities payable in dollars to foreign banks, p/and short-term liabilities payable in foreign currencies to foreign

banks and to "other for«lgD«ra."

1/

^

^

6/

Includes mEirketable U.S. Government bonds and notes held by foreignbanks.Principally the International Bank for Reconstruction and Development,the Inter^American Development Bank and the Asian Development Bank.

Includes total foreign holdings of U.S. Govemnent bonds and notes,for which breakdoim by type of holder is not available.Data on the t»o lines shoim for this date differ because of changesin reporting coverage. Figures on the first line are comparable in

coverage to those shorn for the preceding date; figures on the secondline are comparable to those shoim for the folloiring date.

Inclxjdes $101 million increase in dollar value of foreign cxirrency

liabilities resulting frcm revaluation of the German mark in October

1969, as follows: liquid $17 million; other $84 million.Data on the second line differ from those on the first line becausecertain accounts previously classified as "official institutions"are Included with "banks"; a number of reporting banks are Included

in the series for the first time; and foreign currency liabilitiesto official institutions of foreign countries are increased In valu«try $110 million to reflect market exchange rates as of December 31,

1971, as follows: U.S. Treasijry certificates, $7 million; nonmarket-able U.S. Treasury bonds and notes, $103 million.Includes $162 million increase in dollar value oi foreign currencyliabilities to official institutions of foreign countries revalued to

reflect market exchange rates, as follcws: short-term liabilities,

$15 mllllan; and noniDarketable U.S. Treasury notes, $li;7 million.

Not available.PrellMnaiTr

.


.INTERNATIONAL FINANCIAL STATISTICS.

Table IFS-3. - U.S. Liabilities to Official Institutions of Foreign Countries, by Area


End of

calendar yearor month

Totalforeigncoxmtrie

WesternEurope1/

LatinAmericanRepublics

Othercountries2/

1963

1964

1965

1966 2/

1957

1968 i/...

1969 i/. .

.

1970 i/. .

.

1971 2/ 5/

1972

1973

1974 2/. .

.

1975

1975-lfey..,

June..

July.,

Aug..,

Sept.,Oct..,

Nov...

Deo..,

1976- Jan. .

.

Feb. .

.

Uar...Apr.p,

May p.

(

(

a/

U,42515,786

15,825

U,840U,895

18,194''17,407

. 17,340'

15,975 4/_ 15,998 V'23,786

_ 23,775

51,20950,651

'

61,526

66.861

76,sUl76,823

80,262

80,199

81,10»

80,34679,81278,45980,30579,843

80,262

80,83581,45981,86483,217

84,352

6/

8,508

9,325

8,826

7,7717,771

10,321

8,0708,062

7,074 4/7,074 %/13,62013,615

30,01030,134

34,197

45,764

44,32844,328

45,312

45,48745,532

44,21643,54845,02544,763

45,312

45,40644,762

43,559

43,563

43,230

1,789

1,812

1,702

1,3331,333

1,310

1,8671,866

1,6241,624

2,9512,951

3,9803,980

4,279

3,853

3,6623,662

3,132

3,1013,008

2,9662,9293,011

3,0443,218

3,132

3,4203,6543,6733,600

3,590

1,058

1,283

1,550

1,3101,310

1,582

1,8651,865

1,8881,911

1,6811,681

1,4141,429

1,733

2,544

4,4194,419

4,448

4,6004,723

4,7654,9224,8404,2544,056

4,U8

3,5523,3773,7783,850

3,827

2,740

3,028

3,309

3,9003,955

4,428

5,0434,997

4,5524,552

4,7134,708

W,51913,823

17,577

10,887

18,60418,626

22,491

20,64620,776

21,70021,37921,15322,39122,241

22,491

23,74824,9U26,227

27,62928,788

154

160

194

278278

250

259

248

546546

407407

Hi

777

788

3,1613,161

2,983

3,4483,800

3,3193,3923,1453,0182,951

2,983

2,7242,7312,7182,805

3,1a

176

178

245

248248

303

303302

291291

414413

871870

2,963

2,6272,627

1,896

2,9173,270

3,1322,9742,7622,6012,614

1,896

1,9852,021

1,9091,7701,776

Note; Data represent short-term and long-term liabilities to the offi-cial institutions of foreign countries, as reported by banks in the

United States; foreign official holdings of marketable and nonmarket-able U.S. Government securities with an original maturity of morethan one year except for nonmarketable notes issued to foreign offi-cial nonreservB agencies; and investments by foreign official reserveagencies in debt securities of U.S. Federally-sponsored agencies andU.S. corporations,

"ij Includes Bank for International Settlements and European Fund.

2/ Includes countries in Oceania and Eastern Europe, and Western Europeandependencies in Latin America.

2J Data on the two lines shown for this date differ because of changes in

reporting coverage. Figures on the first line are comparable in

coverage to those jhown for the preceding date; figures on the second

lire are comparable to those shewn for the follcnring date.

y Includes $101 million increase in dollar value of foreign currencyliabilities due to revaluation of the Geuman mark in October 1969.

^ Data on the second line differ from those on the first line becausecertain accounts previously classified as "official institutions" are

included with "banks"; a number of reporting banks are included in the

series for the first time; and U.S. Treasury liabilities payable in

foreign currencies to official institutions of foreign countries are

increased in value by $110 million to reflect market exchange rates

as of December 31, 1971.

b/ Includes $162 million increase in dollar value of foreign currencyliabilities revalued to reflect market exchange rates.

p PrelimlTWTy.

July 1976 87

.INTERNATIONAL FINANCIAL STATISTICS,

Table IFS-4. - Nonmarketable U.S. Treasury Bonds and Notes

Issued to OfHcial Institutions of Foreign Countries

(In millions of dollars or dollar equivalent)

End ofcalendaryearor month

Payable in dollars

BelgiumCanada1/

GermanyItaly

2/Thailand

1962

196319641965'.966

196719681969197019711972

197319741975

1975-June.

July.Aug..

Sept.Oct..

Nov..Dec.

;1976-Jan.

.

Feb..

Mar..Apr . .

,

May...June.

.

251

8931,4401,792

6951,5633,3303,181 V3,5639,657 V

15,87215,669 6/16,339

19,976

19,169

19,61619,46619,66619,66619,726

19,976

20,05120,051

20,051

20,15120,15120,251

163

354484353516

1,692

1,4312,4807,829

14,33314,21014,867

18,377

17,570

18,01717,86718,06718,06718,127

18,377

18,45218,452

18,452

18,55218,55218,652

32

32

32

3220

125

329299144314

1,3341,1292,2892,6402,8402,5402,540

2,100

2,140

2,1401,9901,9901,9902,050

2,100

2,1752,175

2,1752,2752,275

2,375

13

-

ply 1976 89

.INTERNATIONAL FINANCIAL STATISTICS^

Table IFS-6. - Weighted-Average of Exchange Rate Changes for the Dollar

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

End of calendaryear or month


.CAPITAL MOVEMENTS.

Background

Data relating to capital movements between the UnitedStates and foreign countries have been collected since 1935,pursuant to Executive Order 656O of January 15> 193'+, Execu-tive Order 10033 of February 8, 19'*9, and Treasury regulationspromulgated thereunder. Statistics on the principal typesof data ajid the principeil countries are published monthlyin the "Treasury Bulletin." Reports are filed with the Fed-eral Reserve Banks by banks, securities brokers and dealers,and nonbanking concerns in the United States. These statis-tics are then consolidated, and are published by the Treasuryas promptly as possible.

The report forms and instructions used in the collectionof the statistics have been revised a number of times. Themost recent general revision of the report forms became effec-tive with reports as of May 31, 1963. 1/

The present form of the published presentation of the"Capital Movements" statistics was introduced in the May1969 issue of the "Bulletin." The principal changes werethe rearrangement of the tables to bring together in separatesections all the data relevant to the same statistical series;the expansion of the time series on aggregate liabilitiesand claims reported by banks to show more detailed breakdownsby type of holder and type of liability' and claim; euid thepresentation of statistics not previously published on theshort-term liquid claims of large nonbanking concerns.

Basic definitions

The term "foreigner" as used in the Treasury reportscovers all institutions and individuals domiciled outsidethe United States, including United States citizens domi-ciled abroad, and the foreign branches, subsidiaries ajid

offices of United States banks and business concerns; thecentral governments, central banks and other official in-

stitutions of foreign countries, wherever located; and inter-national and regional organizations, wherever located. Theterm "foreigner" also includes persons in the United Statesto the extent that they are known by reporting institutionsto be acting on behalf of foreigners.

In general, data are reported opposite the foreign coun-try or geographical area in which the foreigner is dcmiciled,as shown on the records of reporting institutions. For anumber of reasons , the geographical breakdown of the reporteddata may not in all cases reflect the ultimate ownership ofthe assets. Reporting institutions are not expected to gobeyond the addresses shown on their records, and so may notbe aware of the country of domicile of the ultimate beneficiary.Furthermore, U.S. liabilities arising from deposits of dollarswith foreign banks are reported generally in the Treasurystatistics as liabilities to foreign banks, whereas the li-ability of the foreign bank receiving the deposit may be toforeign official institutions or residents of emother country.

Data pertaining to branches or agencies of foreign offi-cial institutions are reported opposite the country to whichthe official institution belongs. Data pertaining to inter-national and regional organizations are repgrted oppositethe appropriate international or regional classificationexcept for the Bank for International Settlements and theEuropean Fund, which are included in the classification "OtherWestern Europe .

"

"Short-term" refers to obligations payable on demandor having an original maturity of one year or less . "Long-term" refers to obligations having an original maturity ofmore than one year, and includes securities having no con-tractual maturity.

Reporting coverage

Reports are required fromlianks , securities brokers anddealers, and nonbanking concerns in the United States, in-cluding the branches, agencies, subsidiaries, and other af-filiates in the United States of foreign firms. Institutionswhich have total reportable liabilities, claims or securitiestransactions below a specified exemption level, based on the

average for the report dates during a six-month period, in-cluding the current report date, are exempt frcm reporting.

Banks file reports monthly covering their short-termemd long-term liabilities to and claims on foreigners; anexemption of $500,000 is applicable to reports in each ofthese categories. Twice a year they also report their short-term dollar liabilities to foreigners in countries not shownseparately on the monthly report of liabilities. Banks,securities brokers and dealers, and in some instances, non-banking concerns, report monthly their transactions in secur-ities with foreigners; the applicable exemption level is

$100,000.

Quarterly reports are filed by exporters, importers, in-

diistrial Emd conmercial concerns, financial institutions

other than banks and brokers, and other nonbanking firms if

their liabilities or claims are $500,000 or more. Such firms

also report the liquid portion of their claims for each month-end when they have reportable claims of $1 million or more.

The foreign credit and debit balances of securities brokers

and dealers are reported quarterly; the exemption level ap-

plicable to these reports is $100,000.

Description of statistics

Data collected on the Treasury Foreign Exchange Formsare published in the "Treasury Bulletin" In six sections.Bach section contains all the data relevant to the same statis-tical series, with tables showing time series by type andcountry, euad the detailed breakdowns of the latest availabledata.

Section I covers the short-term and long-term liabilitiesto foreigners reported by banks in the United States. Thedata exclude the holdings of dollars of the InternationalMonetary Fund derived from payments of the United Statessubscription and from the exchange transactions and otheroperations of the Fund. (Liabilities representing the "goldinvestment" of the Fund, however, are included. ) The dataeJ.so exclude U.S. Treasury letters of credit, juid nonnego-tiable, noninterest-bearing special notes of the United Statesheld by international and regional organizations.

Section II presents the short-term and long-term claimson foreigners reported by banks in the United States , includingclaims held for their own account and for the account oftheir domestic customers . The data exclude convertible for-eign currencies held by U.S. monetary authorities.

Sections III and IV show respectively the liabilities

Jidy 1976 91

.CAPITAL MOVEMENTS.

Ito, and claims on, foreigners reported by exporters, impor-

ters, industriaJ. and commercial firms, financial institutions

other than banks and brokers, and other nonbanking concerns

in the United States. The data exclude the intercomptmy ac-

counts of business enterprises in the United States withtheir ovm branches and subsidiaries abroad or with their for-

eign parent companies. (Such transactions are reported by-

business firms to the Depaxtment of Comnerce on its directinvestment forms . ) The data also exclude claims held through

United States banks. Separate figures are shown in Section

IV for the short-term liquid claims of large nonbanking con-

cerns in the United States.

Section V contains data on transactions in all typesof long-term domestic and foreign securities by foreignersreported by banks and brokers in the United States (exceptnonmarketable U.S. Treasury notes, foreign series, and non-marketable U.S. Treasury bonds and notes, foreign currencyseries, which are shown in "International Financial Statis-tics" section, Table IFS-lt). The data cover new issues ofsecurities, transactions in outstanding issues, and redemp-tions of securities. They include transactions executed inthe United States for the account of foreigners, and trans-actions executed abroad for the account of reporting insti-tutions and their domestic customers . The data include sometransactions which are classified as direct investments inthe balance of payments accounts. The data exclude securi-ties issued abroad by foreign subsidiaries of U.S. corpora-tions, some of which -are treated -in the beJ.ance of paymentsas issues of U.S. corporations.

The geographical breakdown of the data on securitiestransactions shows the country of domicile of the foreignbuyers artd- sellers of the" securities; in the case of out-standing issues, this may differ from the coxintry of theoriginal issuer. The gross figures contain some offsettingtransactions between foreigners. The net figures for totaltransactions represent transactions by foreigners with UnitedStates residents; but the net figures for transactions ofindividual countries and areas may include some transactionsbetween foreigners of different countries. Beginning withdata for 1969> transactions between foreigners in new issuesnot offered for sale to United States residents but managedby underwriters in the United States are excluded from thegross figures.

Section VI comprises two tables on the money creditand debit balances, as appearing on the books of reportingbrokers and dealers in the United States, in accounts of for-eigners with them, and in their accounts carried by foreigners

.

The data published in these sections do not cover alltypes of reported capital movements between the United Statesand foreign countries. The principal exclusions are theintercompany capital transactions of business enterprisesin the United States with their own branches and subsidiar-ies abroad or with their foreign parent companies, and capitaltransactions of the United States Government. Consolidateddata on all types of capital transactions are published bythe Bepartment of Comnerce in its regular reports on theISiited States beLLance of payments.

Copies of the reporting forms and Instructions may be obtained from the Office of Statistical Reports, Office of the Assistant Secretary for International

Affairs, Department of the Treasury, Washin^on, D. C. 20220 or from Federal Reserve Banks.


.CAPITAL MOVEMENTS.

Section I - Liabilities to Foreigners Reported by Banks in the United States

Table CM-M. - Short-Term Liabilities by Type of Foreign Holder

(In mlllicms of dollars)

International' and regional

End ofcalendar yearor month

Totalshort-termliabili-ties

Foreign coimtr^^s

Official institutions 1/

Payableindollars

Payableinforeigncurrencies

Banks and other foreigners

5,72-1

5,950

7,076

7,0«7

7,7597,841

7,9U7,911

8,863

10,62510,680

11,006

13,85913,680

15,337

15,205

18,916

27,57727,709

21,16621,207

13,95i

M,643 b/

19,284

23,196

38^619

38,527

39,52A

37,ao36,6U37,66239,«339,556yi.m41,78439,524

40,76143,27540,642

US,99847,068

Payable in dollars

Otherforeigners

PayableInforeigncxirrencies

IMFgoldinvest-ment g/

Non-monetaryinterna-tional andregional

i/

1957

1958

1959

1960

1961 5/....

1962 5/....

1963

1964 5/. . .

.

1965

1966 5/....

1967 5/

1968

1969 5/. . .

.

1970 5/

1971 5/ 6/.

1972

1973

1974 5/....

1975

1975-«ay...June..

July..Aug...Sept .

.

Oct...Nov...Dec...

1976-Jan...Feb . .

.

Mar...Apr. pMay. p

22,877

''25,467

25,518

25,551

27,72427,599

30,657

^30,505

31,717

^40,040U0,199

i

41,71941,761

55,40455,428

60,697

69,074

r94,847

^94,777

93,987

93,84692,688

92,65794,28892,69492,11495,56993,987

94,84197,45495,043

101,943104,071

13,641

14,615

16,231

17,260

18,69918,781

19,908 .

19,874

21,330

23,84923,900

24,072

26,34326,219

29,370

29,232

30,234

38,63138,786

40,49940,541

53,63253,661

59,284

67,119

91,676

91,606

88,694

89,93288,745

88,21289,48487,79387,53291,09388,694

89,90892,93390,274

96,U2l.

98,559

7,917

—

8,665

9,154

10,212

10,94010,940

11,99711,963

12,467

13,22413,220

13,066

12,48412,539

14,034

14,027

11,318

11,05411,077

19,33319,333

39,67939,018 tJ

40,000

43,923

53,057

53,079

49,170

52,52252,101,

50,55250,05148,23649,75449,31349,170

49,14749,65949,632

50,i»a6

51,491

7,917—

8,665

9,154

10,212

10,89310,893

11,94911,915

12,437

13,22413,220

13,066

11,96812,022

13,882

13,876

10,855

10,85110,874

19,18419,185

39,521

38,854 6/

39,829

43,796

52,930

52,952

49,170

52,52252,101.

50,55250,05148,23649,75449,31349,170

49,14749,65949,632

50,1*2651,491

4646

4848

30

517517

152

152

463

202202

148148

158

165 2/

171

127 8/

127127

3,413

3,460

4,601

4,705

5,2995,380

5,2515,251

5,713

7,153

7,213

7,360

10,023

9,864

11,132

11,008

14,298

23,41223,419

16,91716,949

10,03410,721 6/

U,340

17,224

29,676

29,474

28,939

28,30827,404

28,47429,874

29,80227,85931,63428,939^

30,38632,55529,961

35,785

2,252

2,430

2,398

2,230

2,3562,357

2,5642,564

3,046

3,3543,376

3,587

3,7433,743

4,128

4,120

4,444

*3,939

4,064

4,0294,038

3,6923,694

4,618

5,503

8,304

8,4U

10,036

8,4378,656

8,6278,997

9,2009,2829,51410,036

9,77410,07810,11510,75710,555

59

59

77

113

104104

9595

104

11890

59

9372

77

77

173

226226

220220

228228

325

469

639639

549

665584

560562

554635637549

600642565

763727

742

752

1,031

1,442

1,3171,317

2,0502,084

1,547

1,6181,618

1,479

1,3811,381

1,287

1,273

1,483

1,4091,413

1,2211,221

1,7721,767

1,413

1,955

3,1713,171

5,293

3,9U3,943

4,4444,8044,901

4,5834,4715,293

4,9334,5204,7695,5195,512

200

200

500

691 U613 y613 y800800

739 U800800

800

800800

800

800

800800

400400

400400

542

552

531

751

704704

1,2501,284

818818

679

581581

487

473

683

609613

821821

1,3721,367

1,413

1,955

3,1713,171

5,293

3;9U3,943

4,4444,804

4,901

4,5834,4715,293

4,9334,5204,7695,5195,512

1/2/

1/

V

5/

Includes Bank for International Settlements and European Fund.

Short-term U.S. Government obligations at cost valxie and funds await-ing investment obtained frcm proceeds of sales of gold by the Interna-tional Monetary Fund to the United States to acquire income-earning ^assets. Upon termination of investment, the same quantity of goldwas reacquired by the International Monetary Fund.Principally the International Bank for Reconstruction and Developtnentand the Inter-American Developauent Bank, Includes difference between 2/cosli value and face value of securities in IMF gold investment account($14 million at end 1971).In addition, IMF gold investment included investments in U.S. Govern- 8/raent bonds and notes which amounted to $109 million at end I960, $187million at end 1961, and $61 million at end 1963. pData on the two lines shown for this date differ because of changes

In reporting coverage. Figures on the first line are comparable incoverage to those shewn for the preceding date; figures on the secondline are comparable to those shown for the following date.Data on the second line differ from those on the first line becausecertain accoimts previously classified as "official institutions" areincluded with "banks" and a number of reporting banks are included inthe series for the first time.Second line includes $7 million increase in dollar value of foreigncurrency obligations revalued to reflect market exchange rates as ofDec. 31, 1971.Includes $15 million increase in dollar value of foreign currencyliabilities revalued to reflect market exchange rates.Preliminary.

July 7976 93

.CAPITAL MOVEMENTS,Section I - Liabilities to Fpreigners Reported by Banks in the United States

Table CM-I-2. - Short-Term Liabilities by Type of Liability

Part A - Foreign Countries


-CAPITAL MOVEMENTS.


Table CM-I-2. - Short-Term Liabilities by Type of Liability-Continued

Part B - International and Regional Organizations



1958.

1959.

1960.

1961.

1562 5/.

1963.

1964.

1965.

1966.

1967 5/.

1968....

1969

1970

1971 5/.

1972

1973

Totalinternationaland regional

lS7li_5/.

1975

1975- vby..Jxine.

July.Aug..

Sept.Oct..Nov..

Dec.

.

1976-Jan..

Feb..liar..

Apr .p.

May. p.

(

(

742

752

1,031

1,442

1,317

2,0502,084

1,547

1,618

1,479

1,381

1,2871,273

1,483

1,413

1,221

1,7721,767

1,413

1,955

3,171

3,171

5,293

3,9143,943

4,4444,8044,9014,5834,4715,293

4,933

4,520

4,769

5,5195,512

IMF goldinvestment:U.S. Treasurybills andcertificates 1/

200

200

500

691 i/

613 i/

800800

739 i/

800

800

800

800800

800

800

400

400400

JL

Nonmonetaiy international and regional organizations 2/

deposits

Time 2/

July 1976.CAPITAL MOVEMENTS.

93


Table CM-I-3. - Short-Term Liabilities by Country

(Position at end of period In millions of dollars)

Country

Eiirope :

AustriaBelgium-LuxemboxiTg, .

.

DenmarkFinlandFranceGermanyGreeceItalyNetherlandsNorwayPortugalSpainSweden

SwitzerlandTurkeyUnited KingdomYugoslaviaOther Western Europe.

U.S.S.ROther Eastern Europe.

Total Europe

Canada

Latin America :

Argentina

BrazilChileColoiiA}la

CubaUaxicoPanamaPeruUruguayVenezuelaOther Latin American Republics.

Netherlands Antilles 2/Other Latin America

Total Latin America

Asia :

China, People's Republic of

(China Mainland)China, Republic of (Taiwan).

Hong KongIndiaIndonesiaIsraelJapanKoreaPhilippinesThailand

Other Asia:

Uiddle East oil -exporting

countries 2/Other countriesTotal other Asia

Total Asia.

Africa :

EgyptUoroccoSouth AfricaZaireOther Africa :

Oil-exporting countries ^.Other countriesTotal other Africa

Calendar year

Total Africa.

Other countries :

AustraliaAll other

Total other countries

Total foreign countries

International and regional ;

Intemat ional

European regionalLatin American regional

Asian regionalAfrican regional

Total international and regional

^and total

.

1973

161

1,*83659

165

3,48313,227

3891,4042,886965534305

1,8853,377

986,148

86

3,35222no

4U.742

3,627

924852

860158247

7

1,296282

135120

1,46888471

359

7,664

648554

1,202

10,839

35U

11487

521287808

1,056

3,13159

3,190

67,119

1,6277

27250

1,955

1974 1/

607

2,506369

2664,2879,420

2482,6173,2341,040

310382

1,1389,986

152

7,559183

4,07382

206

48.668

3,517

8861,4481,034

276305

7

1,770488272

U73,4131,316

158519

12,038

38


.CAPITAL MOVEMENTS.Section I - Liabilities to Foreigners Reported by Banks in the United States

Table CM-I-4. - Short-Term Liabilities, by Type and Country, as of May 31. 1976

Preliminary

(Position in millions of dollars)

July 1976 97

.CAPITAL MOVEMENTS.Section I - Liabilities to Foreigners Reported by Banks in the United States

Table CM-I-5. - Short-Term Liabilities, Countries and Areas Not Regularly Reported Separately

(Position at end of period in millions of dollars)

Onaitiy


.CAPITAL MOVEMENTS.


Table CM-I-6. - Long-Term Liabilities by Type



Payable in dollars

Totallong-termliabilities

Foreign countries

Total 1/

Officialinstitutions

Otherforeigners

Internationaland regional

Payable in

foreigncurrencies

1957195819591960196119621963196419651966

1967 2/..,

1968196919701971

1972 2/. .

,

1973vni,

1975

1975-Jfay.-

Jtme.,

July.,*lg..,

Sept.,Got..,

Nov..,

Dec...

1976-Jan...Feb . .

.

liar

Apr. p.

May p.

(

(

102

1

72

769

310513

1,494

2,5462,560

3,1662,4901,703902

1,0001,018

1,4621,285

1,757

1,5671,530

1,6131,5661,5881,505

1,5361,757

1,8751,859

2,0622,0622,064

102

1

72

728

204203988

1,8581,863

2,3891,600

913437

417417

700464

1,340

9881,018

1,1801,1951,1931,192

1,2381,340

1,5671.571

1,9041,8881,927

n.an.an.a

n.an.an.an.a913

1,8071,807

2,3411,505

695

144

9393

310124

951

671

701

861871

868

894

951

1,0421,065

1,0911,0761,079

n.a.n.a.

15

15

8

55

165237

238238

291261289

248

247

242243241

241

261289

402398

442385381

n.a.n.a.n.a.n.a.n.a,n.a.n.a.n.a.n.a.

50

3540

4040

53

56

8787

10079

100

6970

77817983'

83

loa

123107

371427466

42

106311506

689698

777889789

446

562

580

761822

a5

579512

432372395311

297

415

306286

157172

135

n.a.n.a.n.a.n.a.n.a.n.a.n.a.n.a.n.a.

1

1

20

2121

i/ Dollar-foreign currency breakd(xm not available prior to 1966; amountsreported for earlier dates assumed to have been payable in dollars.

2/ Data on the 1»o lines shcnm for this date differ because of changesin reporting coverage. Figures on the first line are coilQ}arable in

coverage to those shewn for the preceding date; figures on the secondline are comparable to those shown for the following date,

n.a. Not available,

p Prelimlnaiy.

July 1976

.CAPITAL MOVEMENTS.


Table CM-I-7. - Long-Term Liabilities by Country


2/

2/

Ttirough December 31, 1972, Benaida included with Bahamas,Hirough December 31, 1975, Surinam included with Netherlands Antilles.Includes Bahrain, Iran, Iraq, Kuwait, Qooan, Qatar, Saudi Arabia, azul

the United Arab Emirates (Trucial States),

y Includes Algeria, Gabon, Libya, and Nigeria.» Less than $500,000.

p Preliminary,

99


.CAPITAL MOVEMENTS.Section 11 - Claims on Foreigners Reported by Banks

Table CM-II-1. - Short-Term Claims by


in the United States

Type

End of

calendaryearor month

Totalshort-t«rmclainB

Payable in dollars

Officialinstl-tutlono

BanksOtherfoi^eigners

Colleo-tiODBout-

standingforaccount of

reportingbanks anddomesticcustcaoers

Accept-

ancesmade foraccoxint

of for-

eigners

Othershort-termclaims

Payable in foreign cijrrencies

Total

Depositsofreportingbanks anddomesticcustomerswith for-

eigners

Foreigngovernmentobligationsandcommercialandfinancepaper

Othershort-termclaims

1957....

1958

1959

1960

1961 1/

1962

1963

196* 1/

1965 1/ *

1966 1/

1967 1/

1968

1969 1/

1970

1971 1/ 2/.

.

1972 1/

19731974..."

1975

1975-llayJ\^.e . ,

.

July...AugSept...

OctNov.. .

.

Dec . . .

.

1976^anFeb...:Mar.Apr, p.

.

May. p..

2,199

2,542

2,599

3,594

4,7194,777

5,101

5,387

7,4117)957

7,6327,735

' 7,819.7,853

8,5838,606

8,711^

9, 5789,680

^10,802

13, 17013,272

'l5,47115,676

20,72339,03449,921

45,87045,734

45,54545,44545,57747,71848,02249,921

51,30553,74953,39055,662

56,387

2,052

2,3U

2,407

3,135

4,1774,234

4,606

5,3W6,8107,333

7,1587,243

7,3997,433

8,1588,182

8,261

9,0639,165

10,192

12,32812,377

U,625U,830

20,06137,838

48,633

44,81444,521

44,37044,29544,445

46,41246,730

48.633

50,07352,34852,06954,21354,969

930

1,268

1,309

1,297

1,6461,660

1,953

1,915

2,6522; 773

2,9682,970

3,1393,141

3,1373,150

3,165

3,2813,278

^;969 2/

5,6745,671

7,66011,29613,130

11,83811,342

11,66713,04012,666

12,50312,97813,130

13,364U,22313,551

U,54715,870

242

401

351

290

329329

359

186

223221

271271

256256

306306

247

262262

119

223231

163163

284381611

366

494

572626572

647695611

694754763769

1,051

386

439

498

524

699709

953

955

1,3741,403

1,5661,567

1,7391,739

1,6031,616

1,M7

1,9461,943

1,720

2,6132,080 2/

2,9752,970

4,5387,3377,577

7,6216,791

6,7997,9167,480

7,3397,8067,577

8,0168,6997,9718,823

9,545

303

428

460

482

618622

642

774

1,0551,150

1,1301,132

1,U31,U5

1,2281,228

1,221

1,0731,073

1,212

1,6671,658

2,5352,538

2,8383,5794,942

3,8524,057

4,2964,4994,614

4,5174,4764,942

4,6544,7714,817

4,9555,275

423

421

516

605

694700

686

832

1,0071,135

1,2681,272

1,3671,288

1,5111,552

1,733

1,9542,015

2,389

2,4752,475

3,2(B3,276

4,3075,6375,467

5,5375,345

5,383

5,3145,314

5,4655,3635,467

5,3115,1915,3675,3255,380

699

656

582

1,233

1,8371,874

1,967

2,214

2,6002,621

2,5012,508

2,4502,540

3,0133,013

2,854

3,1693,202

3,985

4,2434,254

204226

4,16011,23711,126

10,95910,641

10,2049,977

10,071

10,13410,61011,126

11,04710,99411,13411,29711,315

384

552803

422492

443464

498467

509

658670

766

1,1071,679 2/

2,4782,657

3,9359,667

18,910

16,48017,194

17,11615,96?16,39418,31017,78018,910

20,15121,94122,018

23,04422,403

147

198

192

460

543543

495

543

601624

474492

420420

425425

450

516516

610

842895

846846

6621,196

1,288

1,0561,212

1,175

1,1491,132

1,3061,2921,288

1,2321,4011,3211,4491,419

132

181

178

222

342343

309

343

342336

325729

240241

287287

336

352352

352

549548

441441

428669612

478591

608610576

734625612

682728794920878

157

182187

7070

7470

40

119173

223223

119289301

301335

296240236

231340301

263241

U5156m

15

16

15

238

200200

186

42

77102

9596

110110

6367

73

?l

166

174174

182182

115238376

277286

271

299320

3a327376

286

431382

373399

2/

Data on the two linee shown for this date ^differ because of changesIn reporting coverage. Figures on the first line are ccmqiarable incoverage to those shoim for the preceding date; figures on the sec-ond line are comparable to those shoim for the folloirlng date.Data on the second line differ from those on the first line becausethose claims of U.S. banks on their foreign branches and those clalna

of U.S. agencies and branches of foreign banks cm their head officeand foreign branches which were previously reported as loans areincluded in "other short-term claims"; and a number of reportingbanliB are included in the series for the first time.Preliminary

.

ply 1976_CAP1TAL MOVEMENTS.

Section II - Claims on Foreigners Reported by Banks in the United States

Table CM-II-2. - Short-Term Claims by Country

lOl


.CAPITAL MOVEMENTS.Section II - Claims on Foreigners Reported by Banks in the United States

Table CM-II-3. - Short-Term Claims, by Type and Country, as of May 31, 1976

Preliminary

>/)' 1976

.CAPITAL MOVEMENTS.Section II - Claims on Foreigners Reported by Banks in the United States

Table CM-II-4. - Long-Term Claima by Type

103



195719581959196019611962

1963-Jlay !/

1963 1/

1964 1/

19651966 ,

19671968 ,

1969 ,

1970i ,

1971

1972 1/'. . . .

,

197319741975

1975-MayJune...

Jvily...

AugSept...OctNovDec

1976-JanFebMarApr. p.,Uay.p..

Totallong-termclaims

1,1741,3621,5451,6982,0342,160

2,2932,379

2,8373,030

3,9714,285

4,5174,1803,9253,5673,2503.0753,667

4,9545,063

5,9967,179•9,530

7,9558,000

8,291

8,3078,5878,9289,1389,530

9,412

9,5119,8009,980

10,238

Payable in dollars

n.a.

n.a.n.a.

n.a.n.a.n.a.

2,2932,379

2,8343,028

3,9714,283

4,5084,1623,9093,5523,2323,0503,645

4,9145,023

5,9247,0999,413

7,8747,908

8,2018,223

8,4948,8149,0209,413

9,2959,3649,6529,864

10,123

n.a,

n.a.

2,2602,346

2,7812,811

3,7773,995

4,2113,9153,6353,1582,8062,6983,345

4,5394,588

5,4466,4918,479

7,2647,189

7,4097,4357,6857,9748,1178,479

8,3498,3528,6418,7838,990

OfficialInstitutions

660730

725728

703716

793702669528502504575

833844

1,1601,3281,375

1,2781,266

1,2821,2781,3431,2811,3181,375

1,2931,2651,3161,3371,379

273273

397397

701729

628512323237209236315

430430

591931

1,692

1,1981,211

1,2851,3231,3521,5161,5471,692

1,6331,635

1,7401,8421,918

Otherforeigners

n.a.

n.a.n.a.

n.a,n.a.n.a,

1,3281,342

1,6591,685

2,3722,550

2,7902,7022,6422,3932,0961,9582,455

3,2763,314

3,6944,2335,412

4,7884,712

4,8424,8344,9915,1775,2535,412

5,4235,452

5.5845,6035,693

Otherlong-termclaims

n,a,

n.a,n.a,

n,a,n,a,n,a,

33

33

54217

195288

297247274394426352300

375435

478609

934

610719

792787809840903

934

9451,0121,0111,081

1,133

Payable inforeigncurrencies

918151618

2522

4040

7280

116

81

92

9085

93114118116

118

US

116

115

i/ Data on the two lines shown for this date differ because of changesin reporting coverage. Figures on the first line are comparable in

coverage to those shown for the preceding date; figures on the secondline are comparable to those shewn for the following date.

Not available.Preliminary,Less than $500,000,


.CAPITAL MOVEMENTS.

Section II - Claims on Foreigners Reported by Banks in the United States

Table CM-II-5. - Long-Term Claims by Country


Country1972 1/

Calendar year

1973 1974 1975

1975

Dec, Feb.

1976

Mar. Apr, p

Europe :

AustriaBelgium-Lxixembourg. ,

.

DenmarkFinlandFranceGermanyGreeceItalyNetherlandsNorwayPortugalSpainSwedenSwitzerlandTurkeyUnited KingdomYugoslaviaOther Western Europe.U.S.S.ROther Eastern Europe,

Total Europe

Canada

Latin America :

ArgentinaBahamas 2/BrazilChileColombiaCubaMexicoPanamaPeruUruguayVenezuelaOther Latin American RepublicsNetherlands Antilles 2/Other Latin America

Total Latin America.

Asia :

China, People's Republic of(China Mainland)

China, Republic of (Taiwan).Hong KongIndiaIndonesiaIsraelJapanKoreaPhilippinesThailand

Other Asia:Middle East oil-erportingcountries ^

Other countriesTotal other Asia

Total Asia

Africa :

EgyptMoroccoSouth AfricaZaireOther Africa:

Oil-erporting countries 5/.

.

Other countriesTotal other Africa

Total Africa.

Other countries :

AustraliaAll other

Total other countries....

Total foreign countries....

Inj^eypational and regional

1811

16

U6100

4911

1928

102

AS5

9

U5486

43

849

"406~

15019

577174108

*

38357 ;

71

10264167

710

1,996

494

7323

14731979

16317

326

1,200

3

70

35

148

22716

243

4,950

Grand total, 4,954

1/

z/

181118

146100

4549n1928

106

405

9150486

43

853

406

15419

583174108

»

390577110

270167

710

2,020

4913

7323

14935396

17117

326

1,271

3

70

36

158

22716

243

5,059

5,063

3

222922

174106896120478

11328

3

3914872

5

129154

1,271

490

14219

662136871

46462626

298136

6

37

2,116

62

9033

5429

23025110316918

543

16

2

8831

219

355[

154

23_

177

5,992

5,996

23135025

191

941989633618

122

308

83329no23

178

233

1,908

soT

16325

840156641

70077

1102

2442021317

2,614

35

194474371

246258103135

19

38482

466

1,619

141

7439

62

176238

366

123

40_

163

7,171

7,179

Data in the two columns shown for this date differ because of changesin reporting coverage. Figures in the first colximn are comparable incoverage to those shown for the preceding date; figures in the secondcolumn are comparable to those shown for the following date.Through December 31, 1972, Bermuda included with Bahamas.Through December 31, 1975, Surinam included with Netherlands Antilles.

23176053

17565

24191486615

187

387

88601

17451

304373

2,675

555

176

431,162

134eo1

97492219

62502647839

3,^97

2

31837

3714123129623015021

223106329

1,792

150148

151

276427

744

172

63_

235

9,498

31

9,530

23

176053

17565

24191486615

187

387

8860117451

304373

2,675

555

176

431,162

134601

97492219

62502647839

3,497

2

318

37

37Ul23129623015021

223106

329

1,792

19

150148

151276427

744

172

63

235

9,498

31

9,530

221758

5317665

23191366513

181

377

80625186

55297381

2,677

17252

1,14213059»

92587

2093

205279

80

41

3,382

2

3323636

13822028921916620

205107312

159151

155286441

769

16167

228

9,380

32~

9,412

22

17574820282

222

94496518

156436

80632187

42a9360

2,602

576~

17650

1,U013262«

99791

2153

200283

8140

3,471

329

3336

13722128921916025

210110320

1,769

238

187

150

161286447

815

18560

246

9,478

33~

9,511

2220

56

4919080

22288505517

17849

482

692

18929

238392

2,702

16654

1,194137

69

1,034

100220

7

200

29293

2

3113736138212292250

171

23

29615

311

1,783

206153

162

299461

841

192

73

265

9,7&6

34"

9,800

7

1752

5022087

21392494412

la51

379

74519131

220377

2,722

558

176161

1,20313668«

1,07589

222

5

208

3119339

3,785

10

30044

34141203

307I

25616124

1961041

3oq

1,782

19

17a154

17.292466

20277

279

9,943

36

9,980

A/ Includes Bahrain, Iran, Iraq, Kuwait, Oman, QBtar, Sau^i Ar^la, andthe United Arab Emirates (Trucial States).

5/ Includes Algeria, Gabon, Libya, and Nigeria.» Less than $500,000.p Preliminary.

July 7976 105

.CAPITAL MOVEMENTS.

Section II - Claims on Foreigners Reported by Banks in t^e United States

Table CM-II-6. - Long-Term Claims, by Type and Country, as of May 31, 1976

Preliminary

(Position in millions of dollars)


.CAPITAL MOVEMENTS.

Section III - Liabilities to Foreigners Reported by Nonbanking Concerns in the United States

Table CM-III-1. - Liabilities by Type


End ofcalendar yearor quarter-end

month 1/

1957.

1958.

1959.

1960 2/

1961 -Mar. _2/..

June Z/..

Dec

1962-June 2/.

Dec. 2/.

1963

196il^une 2/.

Dec

1965 2/

1966

1967 2/

1968

1969 2/

11970.

1971 2/.

1972 2/.

1973

197A

1975-Mar

June...

Sept...

Dec, p.

Totalliabilities

566

499

(Ai,

574-

596

674691

756778

833

778817

798805

763725

943958

l,a9

1,7841,815

2,737

3,5114,428

5,780

5,863

5,901

Short-term liabilities

491

440

581

485507

583600

673684

678

626665

637644

626

622585

1,089

1,3711,386

1,608

1,7862,124

2,677

2,7042,763

3,U93,417

4,006

5,828

5,804

5,802

5,876

5,776

Payable in

dollars

428

368

512

424437

510525

563572

569

527551

508513

479

471441

556

600

827

1,0271,039

1,225

1,3991,654

2.181

2,2292,301

2,635

2,948

3,290

4,905

4,940

4,972

5,028

5,168

Payable inforeigncurrencies

62

71

69

^\70 /

7376

111113

109

99114

129130

148

151144

144

210

262

343347

382

387471

496

475

463

484469

716

922

864

830

848

608

}

}

Long-termliabilities

75

60

83

89

91

8394

155

151

161

148

140

) 136

\^147

329

a4428

1,129

1,725

2,304

3.102

3,1593,138

3.5*0

3,603

3,886

3,768

4,044

4,155

4,104

4,124

Note: Breaks in series arising from changes in

amount to $5 million or less for any year are

cases, only the figure comparable to that for

shoim.1/ Data are shoim for calendar year ends and for

quarter ends for which figures are available.

reporting coverage whichnot shown; in suchthe following date is

most recent fiveData are also shown

for earlier qxjarter ends when the reporting coverage changed.

^ Data on the two lines shown for this date differ because ofchanges in repotrting coverage. Figures on the first line areccnqjarable in coverage to those shown for the preceding date;figures on the second line are ccn^jarable to those shown forthe following date, p Preliminary.

July 1976

.CAPITAL MOVEMENTS.Section III - Liabilities to Foreigners Reported by Nonbanking Concerns in the United States

Table CM-III-2. - Short-Term Liabilities by Country

107

1/ Data in two colunms shoim for this date differ because of changes

in reporting coverage. Figures in the first column are coniparable in

coverage to those shown for the preceding date; figures in the second

column are comparable to those shown for the folloring date.

2/ Through December ')!,

* Less than $500,000.p Pr&Liminary,

1972, Bermuda included with Bahamas.


.CAPITAL MOVEMENTS.Section III - Liabilities to Foreigners Reported by Nonbanking Concerns in the United States

Table CM-III-3. - Short-Term Liabilities, by Type and Country, as of December 31, 1975

Preliminary

(Poeition iQ mlllloiis of dollars)

Country

July 1976 109

.CAPITAL MOVEMENTS.

I

Section III - Liabilities to Foreigners Reported by Nonbanking Concei;ns in the United States

Table CM-III-4. - Long-Term Liabilities by Country

1/ Data in the two columns shown for this date differ because of changes

in reporting coverage. Figures in the first col\iinn are comparable in


colxjinn are comparable to those shosm for the following date.

2/ Throxigh December 31, 1972,* Less than $500,000.

p Preliminary.

Bermuda incli^jied with Bahamas

.

no Treasury Bulletin

.CAPITAL MOVEMENTS.

Section IV - Claims on Foreigners Reported by Nonbanking Concerns in the United States

Table CM-IV-1. - Claims by Type


End ofcalendar year orquarter-end month

1/

1957.

1958.

1959.

1960 2/

1961 -Mar. 2/..

J\me 2/ .

.

Sept. 2/.

Dec

1962-June 2/.

.

Deo. 2/--

i963-Mar. 2/..

June 2/.

.

Dec. 2/..

1964-June 2/.

.

Dec. 2/..

1965 Z/.

1966

1967 2/.

1968^..

1969_2/..

1970^. ..:

.

1971 2/

1972 2/...

1973

1974

1975 4ter..

June.

Sept.

Dec.

Total claijus

2,138

2,8092,867

2,9292,979

3,5653,438

3,884

5,572

,303

,067

Short-term claims

777

720

705

1,4321,505

1,2481,305

1,4961,528

1,6461,664

1,636

1,8071,974

2,0512,098

2,1132,162

2,282

2,1312,188

2,4822,430

2,7762,853

2,3972,299

2,628

2,9463,011

3j783_

3,7104,159

4,160

5,185

5,000

5,721

6,302

8,482

11,268

10,910

10,866

11,692

12,068

Payable in

dollars

Payable in foreign currencies

568

605

824875

939968

1,1811,208

1,3231,340

1,335

1,4751,598

1,6251,668

1,7121,758

1,877

1,7391,778

2,0(50

1,952

2,3062,338

2,0001,911

2,225

2,5292,599

3,173

3,124

3,532

3,579

4,5354,467

5,074

5,643

7,569

10,201

9,769

9,574

10,333

10,887

Deposits with banksabroad in reporter'sown name

I NotQ: Brea]cs in series arising from changes in reporting coverage whichamount to $5 million or less for any year are not shown; in suchoases, only the figure comparable to that for the following date isshown.

1/ Data are shown for calendar year ends and for the most recent fivequarter ends for which figures are available. Data are also shown

78

88

68

58

71

76

122126

131132

178208

214217

201204

222

201

199

220

189205

167166

201203

368'

221

244

234

318

289

410

393

493

473

453

479

525

555

Other short-termclaims payable inforeign currencies

63

63

32

549 .

560 '

233248

193194

192 "\

192 J151

153168

2122I2

200^200 J

183

191211

262 "\

260 /

281310

229222

236

216209

241

365

383

348

333244

237267

421

594

688

813

834

626

Long -termclaims

170

223

304

344354

385396

399406

453

502

636704

758769

816

[766882

^23734

815

9621,081

1,1691,139

1,256

1,5371,570

1^790

2,215

2,363

2,950

3,U83,068

3,312

3,274

3,678

4,159

4,139

4,086

4,228

4,551r

for earlier quarter ends when the reporting coverage changed,2/ Data on the two lines shown for this date differ because of changes

in reporting coverage. Figures on the first line are comparable incoverage to those shown for the preceding date; figures on the secondline are comparable to those shown for the following date.

p Preliminary. r Hevised.

July 1976 in

.CAPITAL MOVEMENTS.


Table CM-IV-2. - Short-Term Claims by Country

\/ Data on the two columns shown for this date differ because of changes 2/in reporting coverage. Figures in the first column are comparable in »

coverage to those shown for the preceding date; figures in the second pcolumn are comparable to those shown for the following date.

Through December 31, 1972, Bermuda included with Bahamas.Less than $500,000.Preliminary.


.CAPITAL MOVEMENTS.Section IV - Claims on Foreigners Reported by Nonbanking Concerns in the United States

Table CM-IV-3. - Short-Term Claims, by Type and Country, as of December 31, 1975

Preliminary(Position in ndUlons of dollars)

» Less t.han $500,000.

July 1976 113

CAPITAL MOVEMENTS,


Table CM-IV-4. - Short-Term Liquid Claims Reported by Large Nonbanking Concerns by Type


1965 2/..

1966

1967 2/.

.

1968

1969 2/.

.

1970

1971 2/..

1972 2/..

1973

1974

1975

1975-Apr.

,

liay.,

June

JulyAug.SeptOct.Nov.Dec.

1976-Jan.Feb.

Mar.,

Apr.

Totalshort-termliquidclaims

973

1,141

1,6481,507

3,4403,2643,2U

3,2943,5233,6593,4883,8243,675

4,0754,3464,396

4,925

fTn nnnrmn nf dnllaral

691625

805

901985

1,306

1,0681,222

847

1,2951,205

1,6151,966

2,^5

2,640

2,937

2,5212,2852,355

2,4172,4952,6892,8143,0832,937

3,3373,574

3,734

4,263

Payable in dollars

Deposits

1919

58

6666

Short-terminvestments 1/

557

549

699

702786

1,192

9511,062

697

1,0921,078

1,4461,910

2,588

2,583

2,653

2,4742,2382,162

2,1912,2762,4432,4842,6612,653

3,016

3,2333,3413,850

lU57

48

133133

87

116161

150

203127

16955

37

56

284

4847

193

226219246330423284

320341393412

Payable la foreign cxirrencies

Total

227219

168

177178

332

250269

294

354302

350408

539

697

737

919979859

877,028970674741737

738772662

66z

Deposits

4545

40

5051

49

174183

173

234234

307

340

435

429

496

373453427

475508474425456496

464447434424

9086

69

7777

222

Short-terminvestments 1/

9288

59

4949

7686

121

12068

4268

105

268

241

545526432

402520496249284241

274

325228233

Note: Data represent the liquid assets abroad of large nonbanking

concerns in the United States. They are a portion of the total claims

on foreigners reported t^ nonbanking concerns in the United States and

are included in the figures shown In Tables CU-IV-1 through CU-IV-3.

1/ Negotiable and other readily transferable foreign obligations payable

on demand or having a contractual maturity of not more than one year

from the date on which the obligation was Incxirred by the foreigner,

2/ Data on the two lines shown for this date differ becaiise of changes

in reporting coverage or classification. Figures on the first line

are comparable to those shown for the preceding date; figures on the

second line are confparable to those shown for the following date.

Table CM-IV-5. - Short-Term Liquid Claims Reported by Large Nonbanking Concerns by Country


CAPITAL MOVEMENTS.


Table CM-IV-6. - Short-Term Liquid Claims Reported by Large Nonbanking Concerns,

by Type and Country, as of April 30, 1976

July 1976_CAPITAL MOVEMENTS,

Section IV - Claims on Fcreigrsrs Rep.,rted by Nonbanking Concerns in the United States

Table CMIV-?. - Long-Term Claims by Country

113

(Position at end of period in millions of dollars

)

Country

Europe :

AustriaBelgium-Luxembourg. .

.

DenmarkFinlandFranceGermanyGreeceItalyNetherlandsNorwayPortugalSpainSwedenSwitzerlandTurkeyUnited KingdomYugoslaviaOther Western Europe.

U.S.S.ROther Eastern Europe.

Total Europe

Canada

Latin America :

Argent ina

Bahamas 2/Braz il

Chil"Colombi a

Cuba ,

MexicoPanamaPeruUruguayVenezuelaOther I^tin Anerican Republics,.

Netherlands Antilles and Surinam

Other Latin America


Asia :


China, Republic of (Taiwan).

HDng KongIndiaIndonesiaIsrael .'

JapanKoreaPhilippinesThailandOther Asia

Calendar year

1971 1/

Total Asia.

Africa :

EgyptMoroccoSouth Africa. .

.

ZaireOther Africa

Total Africa...

Other countries :

AustraliaAll other

Total other countries ....

Total foreign countries....

International and regional .

Grand total

.

1

7

3

19

2067

AO

33328

1586

«62

128

13

12

832

66

4

17A216349

6029

28

4

30225

332

1521

4914179

481762

468

78

5

83

3,118

1

47

3

19

2067

403332815

86

4362

12813

12

832

66

4174217

349

602928

430225

887

332

1521

4113685

481762

461

82

3,065

3,068

1972 1/

2

4

7

6227

53

54

34325

13

70

342815

1631611

878

598

184236309

603616

430223

391

1728

7415685

631683

562

91

72

100

5

105

3,308

3,312

7

7

7

6

267

43Its

3642816

65

342927

1911613

5

935

"749

6025

187238329

643516

430241

13

955

401

163275

13365

63

481

511-

1

78

29

5

34

3,270-

3,274

1973

102

6

4393756

33930X)

552552

26290167

20

9

1,051

792

48

13114525412

979

49IS18

38239

112

1,053

10544

15

3792

12593-

858

93

613

22

2

87

115

3217

49

3,674

3,678

1974

8

15

1

7

53

2321

4028012

94640

44

336411

41111

1,006

918

44

19187

435139

1431121918

153217

3

1

1,373

46

71133

123112164:

836

94

683-

3

1

178

98

127

2920

49

4,154

4,159

1975

915

1

11

52

2418

37290128

4539606

34094*

12

"994"

962

41

8

182392139

1601342118

143219

7

1

1,349

50

3

U19r12110216673

5

90

64L

3

1

208

106

139

2820

48

4,133

4,139

1415

1

7

53

2316

4327777

413857

629912

4*

14

Sept.

933

970

48

8

182

336U9

154148261

14422022

3

1,315

61

4953

12098

142;

75

5

87

655

1

2010

115

U6

4219

4,08C

4,086

1314

1

75419

16

43273

7

7

403959

5

3664

3

1

15

985

993

34

7

17731515

92221162418

14421722

5

1,325

56

3

956

122

9517776

5

104

703

41

21

10

119

154

4219

4,222

4,228

1/ Data in the two colmnns shown for this date differ because of changes

in reporting coverage. Figures in the first column are comparable in


column are comparable to those shown for the following date.

2/ Through December 31, 1972, Bermuda included with Bahamas.

Less than $500,000.

p Preliminary, r Revised.

Dbc .p

618*

6492015

41217

664741552

3908

3

1117

959

1,047

38

8

170

31519

92101152618

458r21521

3

52

3

7481229019778

5

90

692

1

3012

124

"T67~

3519


.CAPITAL MOVEMENTS.Section V - Transactions in Long-Term Securities by Foreigners

Reported by Banks and Brokers in the United StatesTable CM-V-1. - Foreign Purchases and Sales of Long-Terpi Domestic Securities by Type

(In millions of dollars; negative figures indicate net sales by foreigners or a net outflOB of capital from the United States)

Data include transactiand of corporations and

in issues of states and municipalities,other agencies of the U.S. Government.

p Preliminary

,

Table CM-V-2. - Foreign Purchases and Sales of Long-Term Foreign Securities by Type

(In millions of dollars; negative figures indicate net sales hy foreigners or a net outfloir of capital from the United States)

Calendar yearor month

19581959196019a1962196319641965196619671968

,

19&919701971

,

1972,

19731974

,

1975 ,

1976-Jan. -May.

1975-May

Jtine

JulyAug

SeptOctNovDec

1976-Jan. .

.

Feb.,.Iter.,.

Apr .p.

-Has p.

Net foreignpurchasesof foreignsecurities

-1,363-750-645-830

-1,048-1,044

-728-953-685

-1,320-1,695-1,547

-915-984-622-81?

-2,033

-6,513

-3,367

-184-647

-705-322

-80-508-715

-1,139-333

-1,201

-375-377-481

Foreign bonds

Net foreignpurchases

-1,026-512-562-460-944

-1,095-928

-1,242

-9U-1,163-1,380-1,029

-951-935

-1,031-993

2.218

-6.331

-3,262

-172

-632

-695

-155

-91-484-743

-1,190

-339-1,145

-922-417-439

Gross foreignpxirchases

946883802

1,093991915

1,1981,7782,0242,3061,5521,4901,6871,9011,474

1,0362,377

1,937168214

313

155

194195248282

462402360341372

Gross foreign

sales

1,9151,4581,4451,2622,0372,0861,8432,4402,6923,1873,6862,5812,4412,6212,9322,467

3,254

, 8>7D9.

5,199340845

1,008

310

285678991

1,471

800

1,5471,282758811

Foreign stocks

Net foreign

purchases

-336-238-83

-370-104

51

200290229

-157

-3U-517

35-49409176

185

-182

-105

-12

-15

-10-167

11

-242951

6-56-5340-42

Gross foreign

>/)• 1976

.CAPITAL MOVEMENTS.

Section V - Transactions in Long-Term Securities by Foreigners

Reported by Banks and Brokers in the United States

Table CM-V-3. - Net Foreign Transactions in Marketable Treasury Bonds and Notes by Country

(In mxlllons of dollars; negative figures Indicate net sales by foreigners or a net outflow of capital from the United States)

2/

yyp

Through December 31, 1972, Bermuda included with Bahamas.

Through December 31, 1975, Sxirinam included with Netherlands Antilles,

Includes Bahrain, Iran, Iraq, Kuwait, Oman, Qatar, Saudi Arabia.

and the United Arab Emirates (Trucial States).

Includes Algeria, Gabon, Libya, and Nigeria.

Prel i minary.Less than $500,000.

Ill

Country


CAPITAL MOVEMENTS.Section V - Transactions in Long-Term Securities by Foreigners

Reported by Banks and Brokers in the United StatesTable CM-V-4. - Estimated Foreign Holdings of Marketable Treasury Bonds and Notes by Country


July I97(j



Table CM-V-5. - Net Foreign Transactions in Long-Term Domestic Bonds,

Other than Treasury Bonds and Notes, by Country(In millioDS of dollars; negative figures indicate net sales by foreigners or e net outflow of capital from the United States)

1/ Through December 31, 1972, Bermuda included with Bahamas,

2/ Through December 31, 1975, Surinam Included with Netherlands Antilles.

^ Includes Bahrain, Iran, Iraq, Kuwait, Oman, Qatar, Saudi Arabia, andjj Includes Algeria, Gabon, Libya, and Nigeria,

p Preliminary. * Less than $500,000.

119




Table CM-V-6. - Net Foreign Transactions in Domestic Stocks by Country

(In millions of dollarB; negative figures indicate net sales by foreigners or a net outflcw of opltal from the United States)

Country

Europe :

AustriaBelgium-Luxembourg, .

.

DenmarkFinlandFranceGermanyGreeceItalyNetherlandsNorwayPortugalSpainSweden .-.

SwitzerlandTurkeyUnited KingdomYugoslaviaOther Western Europe.U.S.S.ROther Eastern Europe.

Total Europe.

Cyiada

Latin America :

ArgentinaBahamas ^BrazilChileColombiaCubaIriezico

Panama

,

PeruUruguayVenezuelaOther Latin American Republics.Netherlands Antilles2 /Other Latin America, TT,


Asia :


China, Republic of (Taiwan).Hong KongIndiaIndonesiaIsraelJapanKoreaPhilippinesThailand

Other Asia:Middle East oil-exportingcountries 2/

Other countriesTotal other Asia

Total Asia

1973

13152

4392

1845

339U911«

686

36666

2,10^

99

-17

624-1

1

-2

-3

-35

30

-1

23

-1

4

495-2

1-1

ATrlca :

EgyptMoroccoSouth AfricaZaireOther Africa:

Oil -exporting countries ij....Other countriesTotal other Africa

,

Total Africa.

Other countries :

AustraliaAll other

Total other countries

Total foreign countries

International and regional :

InternationalEuropean regionalAsian regionalAfrican regional

Total international and regional

Grand total. 2,790

Calendar year

1974

-1

59-5N

203397

-3

330-10

3-3

-1

36-3

-377

281

-45

175

-13-2

-33

-2

-45-1

361

288

-9

527

13

13

540

1975

U835

-1

26225110*

3594

-2

132

899

594.

2,490

2

7

1

-1

1

6

15

2

3-22

-2C

186

2

22

l,b4127

1,668

1,780

2

3

9

151

;4,650

13

I

4,668

1976throughMay p

1

21-2

1108140

6

4-32

5

-3

5-2

2101

266«

10

1

743

156

12

12

-1

5

4874

146

440

1

37

870-4

866

2,019

1075

2838W

-4

64

22

1

122

32

1

295

"icF

-5

-5

2892

291

302

3_"694"

-6

689

Jan,

27-1

1

13611

-481

-1-2

1

-2

3

1

208

-1

25

76

-1

-11

222i

223

216

539

541

U12

3-14

2

-1

1«

631

a

133

U8

-1

2

1751

176

180

-3

-3

370

-2ZL.

1076

1

4

-1*

792624

-6

1*

1

-1

147*

69»

2

327

14

3

13

1

26

153

154

195

574

582

Apr. p

1010

-2

312-2

2

84

23

11

3

13

254

253

276

TTT

411

\J Through December 31, 1972, Bermuda included with Bahamas.2/ Throuirh December 31, 1975, Surinam included with Netherlands Antilles,

_2/ Includes Bahrain, Iran, Iraq, K\a?ait, Oman, i^tar, Saudi Arabia, andthe United Arab Emirates (Trucial States).

^ Includes Algeria, Gabon^ Libya, and Nigeria*

p Preliminary.» Less than $500,000.

July 1976 121

XAPITAL MOVEMENTS.1.

Section V - Transactions in Long-Term Securities by Foreigners


Table CM-V-7. - Net Foreign Transactions in Long-Term Foreign Bonds by Country

(In millions of dollars; negative figures indicate net sales by foreigners or a




Table CM-V-8. - Net Foreign Transactions in Foreign Stocks by Country

(In millions of dollars; negative figures indicate net sales by foreigners or a net outflow of capital from the United States)

1/ Through December 31, 1972, Bermuda included with Bahamas.2/ Through December 31, 1975, Surinam included with Netherlands Antilles« Less than $500,000.

p Preliminary.

July 7976 123

.CAPITAL MOVEMENTS.Section V - Transactions in Long-Term Securities by Foi;eigners


Table CM-V-9. - Foreign Purchases and Sales of Long-Term Securities,

by Type and Country, During May 1976 Preliminary

124

CAPITAL MOVEMENTSTransactions in Long-Term Securities by Foreigners

Treasury Bulletin

Section VReported by Banks and Brokers in the United States

Table CM-V-10. - Foreign Purchases and Sales of Long-Term Securities,

by Type and Country, During Calendar Year 1975


ply 1976 123

.CAPITAL MOVEMENTS.

Section VI - Foreign Credit and Debit Balances in Brokerage Accounts

Table CM-VI-1. - Foreign Credit Balances (Due to Foreigners) by Country



.CAPITAL MOVEMENTS-Section VI - Foreign Credit and Debit Balances in Brokerage Accounts

Table CM-VI-2. - Foreign Debit Balances (Due from Foreigners) by Country

(Position at end of period In millions of dollars)

Note; Data represent the money debit balances (due from foreigners),

as appearing on the books of reporting brokers and dealers in theUnited States, in accounts of foreigners with them, and in

their accounts carried by foreigners.

1/ Through December 31, 1972, Bermuda included with Bahamas.

P Preliminary. * Less than $500,000.

r Revised.

July 1976FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS

127

Section II - Federal Credit Programs

Table GA-II-1. - Direct Sales and Repurchases of Loans



.CUMULATIVE TABLE OF CONTENTS

August 1975 through July 1976

Issues and page numbers

1Q75

Aug. Sept.

1076

Apr. May

Article :

Treasury financing operations

Federal fiscal operations :

Summary of fiscal operations

Budget receipts by sotirce

Chart - Budget receipts by sourceBudget outlays by agencyUndistributed offsetting receiptsBudget outlays \jy functionInvestment transactions of Government accounts in

Federal securities ( net)

Trust fund transactionsSelected accrual data reported by Federal agencies

Detail of excise tax receiptsAccountability of the Account of the U.S. Treasury on

an accounting basisSummary of internal revenue collections by States

and other areas

Federal obligations

Account of the U.S. Treasury :

Status of the Account of the U.S. Treasury

Analysis of changes in tax and loan account balances....

Gold assets and liabilities of the Treasury

Monetary statistics :

Currency and Coin in Circulation

Federal debt :

Summary of Federal debtComputed interest charge and computed interest rate

on interest-bearing public debtInterest^bearing public debtMatxirily distribution and average length of market-

able interest^bearing public debtGovernment account series ,

Interest-bearing securities issued by Governmentagencies

Participation certificates ,

Debt subject to statutory limitationStatus and application of statutory limitation

Treasury holdings of securities issued by Governmentcorporations and other agencies

Description of securities of Government corporations

and other business- type activities held by the

Treasury

Public debt operations :

Maturity schedule of interest-bearing public marketable

securities other than regular weekly and 52-weekTreasury bills outstanding

Offerings of Treasury billsNew money financing through regular weekly Treasury

billsOfferings of public marketable securities other than

regular weekly Treasury billsUnmatured marketable securities issued at a premium

or discount other than advance refunding operations ,

,

Allotments ^ investor classes on subscription forpublic marketable securities

Disposition of public marketable securities other

than regular weekly Treasury billsForeign series securities (nonmarketable) issued to

official institutions of foreign countriesForeign currency series securities (nonmarketable)

Issued to official Institutions of foreigncountries '.

United States savings bonds :

Sales and redemptions by series, cumulativeSales and redemptions by periods, all series

combinedSales and redemptions by periods. Series E through K..

RedeII^)tiQns of matured and unmatxired saving bondsSales and reden^tions by denominations. Series E andH combined

Sales by States, Series E and H combined

1

3

5

67

8

1011

12

Xi.

29

30

33

36

39

U44

48

60

62

626365

66

1

3

5

67

8

12

13

15

23

24

25

26

27

28

28

29

30

31

32

33

34

3536

39

42

45

49

51

55

67

69

7072

73

10

11

13

16

1718

32

33

36

39

42

46

48

52

64

66

666769

10

11

15

1617

19

20

2021

22

23

2425

26

2728

31

35

38

42

44

48

60

62

62

6365

1

July 1976 129

.CUMULATIVE TABLE OF CONTENTS,

August 1975 through July 1976-Continued

Ppited States savings notes :

Sales and redemptions by periods

Ownership of Federal securities :

Distribution by classes of investors and types of

issuesEstimated ownership by private investors

Treasury survey of qmership

Treasury survey - commercial bank cwmership

Market quotations on Treasury securities :

End-of-month closing quotationsChart - Yields of Treasury securities

Average yields of long-term bands :

Average yields of long-term Treasury, corporate, and

municipal bondsChart - Average yields of long-term Treasury,

corporate, and municipal bonds

Exchange Stabilization Fund :

Balance sheetIncome and expense

National bank reports :

Operating Income and Expense, anu Dividends of National

Banks Calendar Year 1975International financial statistics :

U.S . reserve assetsU.S. liquid and other liabilities to foreignofficial institutions, and liquid liabilities to all

other foreignersU.S. liquid and other liabilities to officialinstitutions of foreign coxmtries by area

Nonmarketable U.S. Treasury bonds and notes issuedto official institutions of foreign countries

U.S. position in the International Monetary FundU.S. net monetary gold transactions with foreigncountries and international and regional organi-zations

Weighted average of exchange rate changes for the

dollar

Capital movements :

Liabilities to foreigners reported by banks in theUni ted StatesClaims on foreigners reported by banks in the UnitedStatesLiabilities to foreigners by nonbankingconcerns in the United States

Claims on foreigners reported by nonbanking concernsin the United States

Transactions in long-term securities by foreignersreported by banks and brokers in the United States.,,.

Foreign credit and debit balances in brokerage accounts

Foreign currencies acquired by the U.S. Govemiaentwithout payment of dollars :

Foreign currency transactions, sxmsttary and country usesForeign cxirrency transactions, U.S. uses and trust funds

Financial operations of Government agencies and funds :

Government corporations and other bxosiness- typeactivities:Statements of financial conditionStatements of income and retained earnings

Federal credit programs:Direct sales and repurchases of loansDirect and guaranteed loans outstanding

Trust funds:

Civil Service Retirement and Disability FundFederal Old-age and Survivors Insurance Trust Fund...Federal Disability Insurance Trust FundFederal Hospital Insurance Trust FundFederal Supplementary Uedical Insurance Trust Fxmd...Railroad Retirement AccountsUnemployment Trust FundNational Service Life Insurance FundInvestments of specified trust accoxmts

Issues and page numbers

1975

Aug.

69

70

78

8587

90

91

92

9394

95

98

106

112

116

122131

Sept.

133

134135136137138138139Ul142

74

7576

8587

89

90

91

92

9394

95

98

106

112

116

122131

133

71

72

73

81

83

34

85

8687

89

90

9192

93

96

104

110

lU

120129

131132

6768

69

7779

80

81

83

84

8586

90

98

104

108

lU123

126

127

128129

136137138139140140Ul143

76

7778

8789

90

91

92

93

94

9596

97

100

108

lU

118

124133

135

1976

72

73

74

82

84

85

86

90

91

92

33

94

97

105

111

115

121130

132

67

6869

70

78

8587

89

90

91

92

9394

98

106

112

116

122

131

134

210211

Mar.

7374

8385

86

87

89

90

91

92

93

96

104

110

114

120129

135

159160

167168169171172173174176177

Apr.

76

7778

8789

90

91

92

93

94

95

96

9798

102

110

116

120

126135

138

139

141

171

May

62

63

64

7274

75

76

77

78

79

80

81

85

•3

99

103

109118

121

147

148

150152153154155157158

61

62

63

7173

74

75

76

77

78

79

80

81

85

93

99

103

109lis

120121

July

6768

69

7779

81

82

83

84

85

86

87

89

92

100

106

110

116125

•ti U.S. Goveminent Printini Office: 1976—211-230/13

DEPARTMENT OF THE TREASURYFISCAL SERVICE, BUREAU OF

GOVERNMENT FINANCIAL OPERATIONSOFFICE OF THE COMMISSIONER

WASHINGTON, D.C. 20226

POSTAGE AND FEES PAIDDEPARTMENT OF THE TREASURY

TREAS - 553

OFFICIAL BUSINESSPENALTY FOR PRIVATE USE, S300

FIRST CLASS

^k^\

Take^ ^^

. stock 7in^menca.Buy U. S. Savings Bonds 4

Treas.HJ10

.A2

c.l

Treas.HJ10

AWbSS

c.l

U.S. Treasury Dept.

Treasury bulletin,July-Dec. 1976.

U.S. Treasury Dept.

Treasury bulletin.

tH^ i-i^ Ut^fej^'ijur-^^^;^^^

1976_07_treasurybulletin

Documents

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