Treasury Bulletin A p r i l

Transcription

1 Treasury Bulletin A p r i l 9 7 O F F I C E O F T H E S E C R E T A R Y

2 T h e Treasury Bulletin is for sale by the Superintendent of Documents, U.S. G o v e r n m e n t Printing Office, Washington, D.C. 040 Subscription per year $3.0 domestic, $7.00 foreign. Single copy price varies.

3 A p r i l 9 7 C O N T E N T S T r e a s u r y f i n a n c i n g o p e r a t i o n s I I F e d e r a l f i s c a l o p e r a t i o n s... F e d e r a l o b l i g a t i o n s A c c o u n t o f t h e T r e a s u r e r o f t h e U n i t e d S t a t e s M o n e t a r y s t a t i s t i c s... 9 F e d e r a l d e b t... 0 P u b l i c d e b t o p e r a t i o n s... 8 U n i t e d S t a t e s s a v i n g s b o n d s... 6 U n i t e d S t a t e s s a v i n g s n o t e s... 6 O w n e r s h i p o f F e d e r a l s e c u r i t i e s T r e a s u r y s u r v e y o f o w n e r s h i p M a r k e t q u o t a t i o n s o n T r e a s u r y s e c u r i t i e s A v e r a g e y i e l d s o f l o n g t e r m b o n d s E x c h a n g e S t a b i l i z a t i o n F u n d I n t e r n a t i o n a l f i n a n c i a l s t a t i s t i c s... 8 C a p i t a l m o v e m e n t s F o r e i g n c u r r e n c i e s a c q u i r e d b y t h e U. S. G o v e r n m e n t w i t h o u t p a y m e n t o f d o l l a r s... 3 F i n a n c i a l o p e r a t i o n s o f G o v e r n m e n t a g e n c i e s a n d f u n d s... 6 C u m u l a t i v e t a b l e o f c o n t e n t s Note: Details of figures may not add to totals because of rounding.

4 II Treasury Bulletin T r e a s u r y F i n a n c i n g O p e r a t i o n s Tax A n ticip atio n B ills On March 6 tenders were in v ited fo r $,000 m illion, or thereabouts, o f 3day tax a n ticip atio n b i l l s to be an add itional issu e o f b i l ls dated July 3, 970, to mature A p ril, 97. The b i l ls were issued on March 30, 97. They w ill be acceptable a t face value in payment o f income taxes due A p ril, 97. Tenders were opened on March 4 and to ta led $,09 millio n, o f which $,00 m illio n was accepted. The average bank discount ra te was 3.67 percent. The lim it fo r noncom petitive tenders from any one bidder was $300,000 and they to ta led $8 m illion. Payment fo r the b i l l s could not be made through Treasury tax and loan accounts. S trip B ills On March 6 tenders were in v ite d fo r additio n al amounts o f eleven outstanding se rie s o f Treasury b i l l s, the weekly issu es maturing from July 8 through September 6, 97, to an aggregate amount o f $. b illio n, or thereabouts, to be issued A p ril 6. Tenders were opened on March 3 and to ta led $,0S0 millio n, o f which $,06 m illio n was accepted including $7 millio n o f noncompetitive tenders. The average bank discount ra te was 3.# percent, based on 8 days, the average number o f days to m aturity fo r the eleven issu e s. The lim it fo r noncompetitive tenders was $330,000. Bidders were required to submit a sin g le p rice fo r each tender. Tenders had to be in the minimum amount o f $0,000 or in m ultiples o f $,000 over th at amount. Payment fo r the b i l l s could not be made through Treasury tax and loan accounts. 9Month and Oneyear B ills On March 7 tenders were in v ite d fo r $00 m illion, or thereabouts, o f 7day Treasury b i l l s, representing an add itio n a l amount o f b i l l s dated December 3, 970, matuning, December 3, 97, and fo r $,00 m illion, or thereabouts, o f 366day Treasury b i l l s to be dated March 3, 97, to mature March 3, 97, both se rie s to be issued March 3. These issu es were to refund $,700 m illio n o f b i l l s maturing March 3. Tenders were opened on March. Tenders received fo r the 7day b i l l s to ta led $,49 m illion, o f which $00 m illio n was accepted, including $7 m illio n o f noncompetitive tenders. The average bank discount ra te was 3.07 percent. Tenders received fo r the 366day b i l l s to ta led $,77 m illion, o f which $,00 m illio n was accepted, including $6 m illion o f noncompetitive tenders. The average bank discount ra te was 3.87 percent. 3week and 6week B ills Issues o f regu lar weekly Treasury b i l l s in March to ta l ed $3.4 b illio n, replacin g $3. b illio n o f maturing b i l l s. There were four 9day issu es o f $.9 b illio n, three 8 day issu es o f $.4 b illio n, and one 8day issu e o f $.6 b illio n. follow ing ta b le. Average ra te s fo r the new issu es are shown in the 3week (Additional amount o f b i l ls o f o rig in a l m aturity o f 6 weeks) A dditional issue 97 Mar. 4 8 Date o f O rigin al issue 970 Dec / Bank discount b a sis. T r e a s u r y Bills,,.General Approximate equivalent annual average rate / 3, Date o f issu e 97 Mar. 4 8 Treasury b i l l s are sold on a bid b a s is. i s payable without in te r e s t a t m aturity. 6week Approximate equivalent annual average rate / 3, S The fa ce amount They are issued in bearer form only, and in denominations o f $0,000, $,000, $0,000, $00,000, $00,000, and $,000,000 (m aturity v a l u e). Tenders are received a t Federal Reserve banks and branches. Each tender must be fo r a minimum o f $0,000. Tenders over $0,000 must be in m ultiples o f $,000. Banking in s titu tio n s g en era lly may submit tenders fo r account o f customers. Tenders may be made without deposit by incorporated banks and tr u s t companies and by responsible

5 April 97 III T r e a s u r y F i n a n c i n g O p e r a t i o n s ( C o n t i n u e d ) and recognized dealers in investment s e c u r itie s. Tenders from others must be accompanied by payment o f percent o f the face amount o f b i l l s applied fo r, unless the tenders are accompanied by an express guaranty o f payment by an incorporated bank or tru s t company. Noncompetitive tenders (without stated p ric e ), u su ally fo r $00,000 or le s s from any one bidder, are accepted in f u l l a t the average p rice o f accepted com petitive bids fo r an iss u e. Payment fo r accepted tenders must be made or completed on the date o f issu e, in cash or other immediately a v a ila b le funds or in a lik e face amount o f Treasury b i l l s maturing on th at date. Payment fo r 3week, 6week, 9month, and oneyear b i l l s may not be made by c re d it in Treasury tax and loan accounts. Eurodollar S eries On A p ril subscriptions were in v ited from fo reign branches o f United States banks fo r $. b illio n o f 3/B percent Treasury c e r tific a te s o f indebtedness Eurodollar Series A97, to be dated A p ril 9, 97, to mature July 9, 97. The c e r t ific a t e s are designed to provide an in v estment o u tle t in the United S ta tes fo r Eurodollars acquired by such branches. Subscriptions were received on A p ril 6 and totaled $.7 b illio n. They were a llo tte d percent. Payment fo r the c e r t ific a t e s could be made through Treasury tax and loan accounts. The c e r tific a te s are in registe red form and transferable only w ith the permission o f the Department o f the Treasury, Foreign S eries and Foreign Currency S eries Foreign se rie s s e c u ritie s issued in March to ta led $,090 m illion, co n sistin g o f seven c e r t ific a t e s o f indebtedness and one note. Redemptions fo r the month to ta led $80 millio n. At the end o f March fo reign s e rie s s e c u ritie s outstanding totaled $4,7 m illion. (D eta ils are shown on page 8.) Foreign currency se rie s s e c u ritie s issued in March con^ siste d o f one c e r t ific a t e denominated in Swiss francs equiva len t to $0 m illion. There were no redemptions fo r the month. At the end o f March fo reign currency se rie s secur i t i e s outstanding to ta led an equivalent o f $,66 m illion and were denominated in German marks and Swiss fran cs. (D eta ils are shown on page 60.) Rote: D etails of Treasury market financing operations are shewn elsewhere in tab les on public debt operations.

6 April 97.FEDERAL FISCAL OPERATIONS I Fiscal year or month (Est.). 97 (Est.). 970Feb..., Mar..., Apr..., May..., June.., July.., Aug..., Sept.. Oct..., Nov... Dec... 97Jan... Feb..., Fiscal 97 to date..., Net receipts / () 99,676 06,60,66 6,833 30,86 49, 3,67 87,784 93,743 94,93 '7,93 U,93r 3,,043 3,986,6,609,7 8,7,493 4,34,49,773,30 8,46 The expenditure account Net expenditures / () 04,46,46 8,039 7,8 30,80 3,0 7,80 83,07 94,460,43 8,86 l4,994r 6,83 7,88 6,337 4,87 9,344 7,49 7,39 7,490 6,66,876 6,870 6,77 37,67 Table FFO. Summary of Fiscal Operations Budget receipts, expenditures, and lending Surplus or deficit () (l)() (3) 4,786 4,896, ,649 9,3 4,7 70 6,9 0,693 fc>4r 3,7 4,86,3 7,690 6,73,7,396,997,48 447,097,096 7,69 Loan disbursements (4) 9,6 9,646 0,37 0,9 4,68 7,676 0,37 3,67 8,344 8,807 9, , Loan account!/ () 7,7 9,79 9,693 9,66 0,796,63 4,97,69 6, 7,96 8,'494 68i ,7 (In millions of dollars) get lending / (0+() (6),3 4 4,49 3,83,03 6,030,476,8, Loan repayments Outlays / ()(6) (7) 06,83,3 8,84 8,430 34,6 8,4 78,833 84,48 96,88,7 9,3 4,89r 6,40 8,07 6,44,3 9,37 7,49 7,443 7,640 6,78,0 7, 6,46 37,844 Budget surplus or def, ieit () (3)+(6) (8) 7,37 4,7,9,96 3,796 8,70,6,84 8,6,639 40r 3,49 3,986,49 7,0 6,78,33,8 6,47,94,34,47 9,379 Public debt securities (9) 9,30 7,69,83,6,633 6,34,37 6,4 7,98 ^96 3',^,7 3,6 4,83 3,893 69,649 4,333,3, 3,440,9 88,34 9,746 Means of financing net transactions Borrowings from the public Federal securities (0) Agency securities Investments of Government accounts 4/ (ii) Special notes / () borrowings from the public (9)+<l0) ()() (3), ,7^9 96, ,088 08, ,09 704, ,06 4,04l 3,44 34,079 9,03 48,838,944,30 3,00 0,0 8,,46,739 0,06,397 H H Vk,497 6,830 _ 7,600,89,767 0, _ , ,69 78,64.,4 60,87 3, _,997 3,6,76 863,347 7,06,6 9 3,306 3, 3,04, ,00, ,8 7,8 Fiscal year or month Means of financing net transactions (continued) Selected balances, end of period Changes in cash and monetary assets Transactions budget General Federal securities Other Within gen l. ji With other With International financ to year s ing Treasurer, Public Agency ment of Special the means of not applied financ account of Invest Held by acct. of Government Treasurer, officers Monetary ing 8/ surplus or (3M4) U.S. 6/ debt securitiement / Govern notes public U.S. 6/ (deduct) Fund deficit / ()(l6) securi (deduct) SBR s 7/ Other (deduct) (7)+(8) ties W accounts ()+(3) +(9) (4)() (l) () (6) (7) (8) (9) (0) () () (3) (4) () (6) , ,07 7,37 0,04 98,0 7,97 4,98,837 48, , ,7,380 30,860 8,3 6,34 3,76 4, ,...,64 4l 367,79 6,9,6 3,73 8,63 9,0 3,8 7, i,9» ,96,70 37,74 9,33 6,40 3,4 6, ,796,40 39,907 3,377 64,784 3,80 64, , ,70 7,879 36, 8,4 73,89 3,38 67, ,094,89 38, ,6 6,78 347,78 4,399 79,40,09 90, ,407 3,36 7,44 33,70 4,49 87, , ,746 7, ,84 9,9 370,99,0 97, , (Est.) ,6 9,9 396,84 H >03 04,3 8 30, (Est.) ,639 9,9 40,40 9,84 6, , Feb r 6 37r 3 40r 7, ,847,967r 9, ,96r Mar ,49 7,87 37,007,987 9, , , ,986 8,49 367,94,948 9, ,84, ,89 30,49 6,834 37,088,670 94, ,036,47 3 6, ,0 9,9 370,99,0 97, ,880 July ,78 8, ,68,47 97, ,877 Aug ,33 7,98 380,9P,469 98,9 8 93,93, ,4,8 9, ,678,48 98, ,46 Oct,...., ,47 7,6 380,00,46 97, ,808 Nov...< ,30 8,94 6, ,640,460 97,6 8 98,3, i a 8, ,8,49 99, ,38 97Jan..., ,836 7,34 0,60 388,34 3,04 99, 8 30,798 Feb..., ,47 8,84 390,664,03 00, ,038 Fiscal 97 to date , ,379 8,84 390,664,03 00, ,03S Source: Based on monthly statement of receipts and expenditures of the Government. The loan account data for fiscal years and all estimates are from the 97 Budget document released January 9, 97. Includes investments in nonfederal securities. / See Table FFO. See Table FF03. 8/ See Table FF06. Represents noninterest bearing public debt securities issued to the / IMF and international lending organizations (IDA and LADB) in recognition of U.S. Government subscription commitments. Current fiscal year to date transactions are on the daily Treasury statement clearance date basis and are converted to accounting date 0/ basis at June 30 (final) only. Prior fiscal year amounts include transactions in transit as of June 30. For amounts in transit see Table FF08 in December 970 Bulletin. Represents holdings of Special Drawing Rights, less certificates issued to Federal Reserve Banks. Includes accrued interest payable on public debt securities, deposit funds, and miscellaneous liability and asset accounts. Includes seigniorage, fiscal 969 conversion of certain corporations to private ownership, and fiscal 970 reclassification of certificates of interest of $,90 million less $7 million investments held by Government accounts. See Table FD6. r Revised.

7 Treasury Bulletin FEDERAL FISCAL OPERATIONS Table FFO. Budget Receipts by Principal Sources Fiscal year or month Net budget receipts (in millions of dollars) Individual Withheld Other Refunds Net total Income taxes Gross Corporation Refunds Net total Net total income taxes ,676 36,46 4,403,079 4,7, ,3 66, ,60 38,79 4,69,400 47,88,336 77,79 69, ,66 39,9,33,893 48,697 4, ,493 7, ,833 36,840 6,80 4,869 48,79 6,3 670,46 74, ,86 4,8p. 8,486,8,446 30, ,073 8, , 0, 8,80 7,84 6,6 3, ,97 9, ,67 7,30 0,9 9,7 68,76 9,897,3 8,66 97, ,784 70,8 7,8 0,9 87,49 38,338,660 36,678 3, ,743 77,46 6,36 3,40 90,4 3,037,08 3,89 3,4 97 (Est.)... 94,93 76,000 6,300 4,000 88,300 33,00 3,400 30,00 8, (Est.)... 7,93 79,800 8,400 4,00 93,700 39,00,800 36,700 30, Feb... 4,93r 7,36r 886 l,446r 6,976r 77 36r 638r 7,64r Mar... 3, 6,09,3 3,907 3,49,9 30 4,39 7,68,043,748. 8,99 4,039 0, ,78,79 May... 3,986 7,08,063,863, ,97,6 6,04 3, ,33 7,7 88 7,39 6,683 July...,609 6, ,8, ,9,7 6, , ,703 Sept... 8,7,907 3,63 8 9,449 4,43 6 4,78 3,77 Oct...,493, ,0, ,779 Nov... 4,34 7, , ,70 Dec...,49, ,09 4, ,484 0,693 97Jan...,773 6,339 4, ,79,08 8 6,0 Feb...,30 7,46 64,407 6,493 ' ,86 Fiscal 97 8,46,030 0,0,0 9, 4,,33,76 7,697 Fiscal year or month Oldage, disability, and hospital insurance Net Gross Refunds total Social insurance taxes and contributions Employment taxes and contributions Railroad retirement accounts Gross Net total Gross Unemployment insurance 96...,4 4,7 & 64,$3 3,34 3, , , ,76 4,! 3 4, ,3 66 6, ,99 4, , ,9 9 6, ,39 3,86 8 3, ,06 8 9, ,66 3, , ,38 8 7, ,83 3,66 6 3, , , l4 9,4 3,3 6 3, , , ,36 3,33 7 3, , , ,33 3,47 6 3, (Est.)... 4,7 4 4,9,007,006 4,97 3,60 6 3, (Est.)... 49, ,88,038,037 0, 4,89 6 4,83 Refunds 970Feb... 4, _ 4, , Mar... 3,070 3, , Apr... 3,97 3,97 3, May..., , , June... 3,334 3, , July...,736 _, , Aug... 4,387 4, , ,9, , Oct...,304, ,3H Nov.... 3,30 3, , Dec...,46, , Jan...,86,86,9 6 6 Feb... 4,808 4, , Fiscal 97 to date... 4,36 4, ,68,36 3,33 (Continuedonfollowing page) Net total Refunds Net total

8 April 97.FEDERAL FISCAL OPERATIONS, Table FFO. Budget Receipts by Principal Sources (Continued) 3 Fiscal year or month Social insurance taxes and contributions (continued) Federal Supplemental Medical Insurance Contributions for other insurance and retirement Federal employees retirement Other employees retirement (In millions of dollars) Net total social insurance taxes and contributions Miscellaneous excise taxes Gross Refunds Excise taxes Net total Gross jhway trust fund ,046 9, ,8 3,080 3, ,804 0, ,9 3,40 6 3, _ 993,008,0 0, , 3, , _,06 6,08,8,0 99 0,9 3,78 3 3, _, 8,9,67 9,36 7 9,4 4, , ,0 9,867 33,349 9, ,78 4,6 4,4a ,334 0,0 34,6 9,87 7 9,700 4, , ,46 4,33 39,98 0, ,8 4,86 4 4, ,73 9,70 4,98 0,9 67 0,3,386 3,34 97 (Est.)...,,78 3 3,07 48,973 0, ,60,689 9,70 97 (Est.)...,347, , 7,9, 37,,77 6,69 Refunds Net total 970Feb r 0r,406r 748 lor 737r Mar , , May , June , July , Aug , Sept , Oct , Nov ,08,0, Dec , Jan , Feb , Fiscal 97 to date... 8,40,088 9,49 6, ,7 3,^0 8 3,793 Excise taxes (continued) Estate and gift taxes Customs duties Miscellaneous receipts Fiscal year or month Airport a] ad airway t rust fund Gross Refunds Net total Net total excise taxes Gross Refunds Net total Gross Refunds Net total Deposits of' earnings by Federal Reserve banks All other Net total miscellaneous receipts 96...,34,03 9,06,7 9, ,94,87 0,67,4 3, , ,73 ',46 3,394,84 3, , ,70,746 9,76,478 3,44,37, ,06 3, ,066,8 4,767,73 6, ,79 3,04 36,978,97 7,90,80 303, ,079 3,08 3 3,0,3 7,038,09 400, , 3, ,49,387 68,39,66 47, ,70 3, ,644,494 64,430 3,66 8 3,44 97 (Est.) ,800 3, ,730,4 64,490 3, , (Est.) ,00,340 40,300,764 64,700 3, ,34 970Feb.... l,04r 68 4r r 78r Mar..., Apr..., May..., June..., July... 9 _ 9, Aug , Sept..., Oct , Nov..., , Jan , Feb , Fiscal 97 to date ,8,7 3,086,733 43,690,386 66,6 Source: Beginning fiscal 967 actual figures are from the monthly released Januaiy 9, 97. statement of receipts and expenditures of the Government. Data for r Revised, prior years were derived on basis of the unified budget concepts Less than $00,000. adopted Januaiy 968. Estimates are from the 97 Budget document

9 BUDGET RECEIPTS BY PR IN C IPAL SOURCES 0 0 T o t a l 0 Fiscal Year Comparison first 8. months fiscal years. 970 and I I I I I I I I I I I I p I l i I V Individual I n c o m e T a x e s $Bil. $Bil. Social Insurance Tax es f 0 E x c i s e T a x e s Source: Monthly Statement of Receipts and Expenditures of the U.S. Government. For actual amounts see preceding Table FF0. / Includes estateand gifttaxes, custom duties, and miscellaneous receipts.

10 A p r i l 9 7 FEDERAL FISCAL OPERATIONS.. Table FFO3. Budget Outlays by Agencies Fiscal year or month Legislative Branch The Judiciary Executive Office of the President Net expenditures (In millions of dollars) Funds appropriated to the President Net lending Agriculture Department Net expenditures Net lending Net expenditures Commerce Department Net lending ,80 _,80, ,94 3,360 3, H 6 3 3,0 3,0 6, ,333 3, , ,694 3,694 7, ,48 4,70 3 4, ,87 7 3,889 6, ,79 4,699 4, ,37 9 4,38,8 36,3 4, , ,8 4,87,49 4,8a ,898 4,93 6,79 7, ,97 4 4,967 7, , ,78 0 4,774 7, , ,08 97 (Est.) ,99 4,94 8,87 8,70,39 64,03 97 (Est.) ,676 _ 4,676 9, ,0,8 96,8 970Feb r 38r r 4 lllr Mar Apr # 407,74 6, Aug ,6 4, ,063 94, Jan r 3r Feb Fiscal ,69 7,684 7,0 37 7, Fiscal year or month Net expenditures Defense Department Military Net lending Civil / Health, Education, and Welfare Department Net expenditures Net lending / Housing and Urban Development Department Net expenditures Net lending Interior Department Net Net expenditures lending Justice Department ,30 # 48, ,09 4, , ,3 48,40,03 0,47 0, , ,73,30,69 3, ,968 4,969,,77, ,66 4,67,78 7, ,99 7,8, ,43 67,43,30 34,30 &7 34,608 67,0, , ,373,300 40, , ,434 4, ,87 77,870,68 46, , , ,0 77,0,,7 0,338,778 8,603,36, (Est.)... 73,370 _ 73,370,46 6, ,940, , ,07 97 (Est.)... 74,97 _ 74,97,08 68, ,79 3, ,888,4 9,434,4 970Feb...,963:,963r 4,064r 4,076r r 3r 48r Mar... 6,377 6, ,38 6 4, Apr... 6,3 6,3 93,46 3, May ,8 6,8 9 4, , June... 6,63 6, ,9 4, ,70 6,70 3 4,6 6 4, Aug... 6,09 # 6,09 7 4,77 3 4, ,60 # 6,60 9 4,863 4, ,39 # 6,40 4 4, , ,8 _,8 34 4,7 6 4, , _ 6,a 8,036, # 64 97Jan...,777 #, , , r 8r 74 Feb...,70,70 80,043 6, Fiscal 97 fe^tmt... Footnotes at endof table. 48,798 _ 48, , ,94,473 9, (Continuedonfollowing page)

11 6 Treasury Bulletin FEDERAL FISCAL OPERATIONS Table FFO3. Budget Outlays by Agencies (Continued) (in millions of dollars) Fiscal year or month Labor Department Net expenditures Net lending Post Office Departnjent Transportation State Department Department u Treasury Department Net expenditures Interest on public debt / Other / Atomic Environmental Net Energy Net Commission Agency Protection lending expenditures General Services Admin. Net lending _ ,0 7,6 7 6,638,806 _ , , ,7, ,044 78' , ,, , ,346 88,^33, , ,04,7, ,7 l,lll 9,8 3, ,06,6 _ ,38,080,73 4,73 8 4,6,66 _ ,V? 90 37,970/ 6, ,9, ,36,0 8 6,7 9, ,0, (Est.)... 7,.,33 8 7,367/ 0, ,893, (Est.)... 7,b,333 7,80/,0 30 _,80,38, Feb... k6 _ 6 7 7,60 8x l,70i 86 64r 9r lr 30 Mar ,699 04, _ 37 3 Apr... ^ ,66 89,74 6 _ 8 33 May... U7 6 6,60 86?689, 88 _ 3 0 June ,76, July... U ,763 93, Aug ,76 88, Sept ,760 8, Oct ,76 00, Nov ,77 07 ', Dec ,8 3 _,699 I9U Jan _ ,80 0, r 3 Feb , _, Fiscal 97 to date... 4,73, ,8 4, ,743, Fiscal year or month National Aeronautics and Space Admin. Veterans Administration Net expenditures Net lending Other independent agencies Net lending Net expenditures Undistributed intrabudgetary transactions 6/ Net expenditures Net expenditures s Net lending 96...,7,36 48,604,4,03 3,9,3 04,46,3 06, ,,66 46,499, ,839,644,46 4, ,7,3 9,660,7H,864,877 8, , ,09,60 88,708, ,9 3,09 7,8,49 8, ,93,746 4,960 3, ,97 3,364 30,80 3,83 34, ,43 6, ,84 3,8,88,43 3,936 3,0,03 8, ,7 6,7 48 6,88 4,74,083 6,7 4,499 7,80 6,030 78, ,7 7,46 3 7,669 4, ,970,7 83,07,476 84, ,749 8, ,63,37 99,736 6,380 94,460,8 96,88 97 (Est.) 3,368 9,960 9,948 6, ,0 7,97,43 7/,6,7 J97 (Est.) 3, 0,8 30 0,6 6, ,734 7,77 8,86 B/ 946 9,3 970Feb r 396r 36r 4,994r 04 U,89r Mar ,83 4 6,40 Apr , ,07 May , ,44 June ,03 4,87 480,3 July , ,37 Aug , ,49 Sept ,39 4 7,443 Oct , ,640 Nov ,66 6,78 Dec ,7,876 36,0 97Jan , , Feb , ,46 Fiscal 97 to date...,77 6,98 9 6,69 4,93 8 4,7 4, 37, ,844 Source: See Table FFO. Note: Net expenditures represent disbursements less proprietary receipts from the public and certain intrabudgetary transactions applicable to the expenditure account. Net lending represents loan disbursements less loan repayments. If only one column is shown for an agency the amounts represent net expenditures, unless otherwise noted. Agency shifts are shown in this table beginning with the period of such shifts, figures prior to the shifts have not been adjusted. / Includes net lending. / See footnote. / Figures prior to fiscal 967 represent expenditures for the Federal Aviation Agency. if u y Reported on an accrual basis. Beginning fiscal 963 expenditures of Federal OldAge and Survivors Insurance Trust Fund and Federal Disability Insurance Trust Fund are included under Health, Education, and Welfare Department and expenditures for the Unemployment Trust Fund under Labor Department. For content see Table FFO4. Includes $00 million for pay increases (excluding Department of Defense), and $300 million for contingencies. Includes $4,09 million estimate for distribution of Federal tax revenues to state and local, governments, $,000 million for pay increases (excluding Department of Defense), and $90 million for contingencies. Less than $00,000. r Revised.

12 April 97 7 FF.nF.RAT. FISCAL OPERATIONS Fiscal year or month Table FFO4. Undistributed Intrabudgetary Transactions Federal employer contributions to retirement funds Health, Education and Welfare Dept. Federal OldAge, Disability, and Hospital Insurance Civil Service Commission Civil Service Retirement and Disability Fund Other (In millions of dollars) Defense Department Soldier's Home Permanent Fund Interest credited to certain Government accounts Federal OldAge and Survivors Insurance Trust Fund Health, Education, and Welfare Department Federal Disability Insurance Trust Fund Federal Hospital Insurance Trust Fund , , , ,04 4, ,090 4, ,8, ,30, i,4oi 6,08 3,009 i4o ,709 8,444 3, (Est.)... 78,70 8,486 3, (Est.)... 7,73 9,46 3, Federal Supplementary Medical Insurance Trust Fund 970Feb r l Q7r Mar l 09 Apr ll4 8 8 May Oct Nov l 3 3 Dec Jan l 4 l Feb Fiscal 97 to date... 47,, Fiscal year or month Interior Department Indian Tribal Funds Labor Department Unemployment Trust Fund Interest credited to certain Government accounts (continued) Transportation Department Highway Trust Fund Veterans Administration Government Life Insurance Fund National Service Life Insurance Fund Civil Service Commission Civil Service, Retirement and; Disability j Fund Railroad Retirement Board ,444, ,48, ,6, ,780 3, ,97 3, ,7 3, ,674 4, ,099, ,936 6, (Est.) , ,7 7,97 97 (Est.) ,7 68 4,30 7,77 Other Grand 970Feb r Mar Apr... l May June ,38,03 July Aug Sept Oct Nov... Si 4 4o 0 34 Dec ,949, Feb Fiscal 97 to date ,8 4, Source: See Table FFO. Less than $00,000. r Revised.

13 Function National Defense Expenditures..., Proprietaiy receipts from the public..., Intrabudgetary transactions.... Net expenditures.... Net lending.... national defense.... International affairs and finance Expenditures.... Proprietary receipts from the public..., Intrabudgetary transactions.... Net expenditures... Net lending.... international affairs and finance, Space research and technology Expenditures.... Proprietary receipts from the public..., space research and technology..., Agriculture and rural development Expenditures... Proprietary receipts from the public..., Intrabudgetary transactions... Net expenditures... Net lending... agriculture and rural development, Natural resources Expenditures... Proprietary receipts from the public..., Intrabudgetary transactions... Net expenditures... Net lending... natural resources... Commerce and transportation Expenditures... Proprietary receipts from the public... Intrabudgetary transactions... Net expenditures... Net lending... commerce and transportation... gpppunity development and housing Expenditures... Proprietary receipts from the public... Intrabudgetary transactions... Net expenditures... Net lending... community development and housing... Table FFO. Budget Outlays by Major Function (In millions of dollars) Fiscal year 970 Fiscal year 97 February March April May June July August September October November December January February Cumulative to date vuiuptu'a. uxe period FT 970 6,60 6,7 6,883 6,7 7,037 6,86 6,340 6,467 6,44 6,4 6,838 6,48,90,0 4, r I89r _ _ 4 6,99 6,608 6,807 6,6 6,97 6,794 6,3 6,374 6,3r,96r 6,74 6,3,8 0,487 3,486 6,99 6,608 6,806 6,6 6,96 6,794 6,3 6,374 6,3r,964? 6,74 6,3,8 0,486 3, ,0, ,947, I60r 84 36,89, ,87,434 _ ,77, , ,44 6, , ,44 6, , ,77,948 7r r 488r 397r 386r r 30r 3,89,400 loor r , r r j 367r 33r 3r r 34,384,700 lr _ 7r r 367r 33r 3r ,386,70 609r r 900r l,3r l,097r ,48,997 llr r r 88r l,3r l,084r 873 8lr ,6, r ,00 846r 889r l,36r l,06r , r ,87,88 _ _ 89r ,89, r ,67,90 (Continued on following page).federal FISCAL OPERATIONS, 00 I v3? I s

14 Function Table FFO. Budget Outlays by Major Function (Continued) (in millions of dollars) Fiscal year 970 Fiscal year 97 Comparable February March April May June July August September October November December January February Cumulative period to date FY 970 VO > Education and manpower Expenditures... Proprietary receipts from the public r 6 68,3 4 _ Net expenditures r , , ,034 4, , education and manpower... 7l6r , ,06 4,49 Health Expenditures... Proprietary receipts from the public... Intrabudgetary transactions...,i86r _ 84,363 _ 77,466 83,33,90 67, Net expenditures...,0r,86,378,60,3,48,0,,0,83,60,74,7 9,403 9,948 Net lending... r _ health...,0r,86,378,60,9,48,0,,0,83,60,74,7 9,403 _i.?4 L Income security Expendi tures... 3,409r 3,73 4,67 4,047 4,468 4,8 4,87 4,3 4,339 4,304 4,98 4,746 4,7 3,6,783 Proprietary receipts from the public... _ _ _ Intrabudgetary transactions _ Net expenditures... Net lending... 3,409r 3,733 4,66,00 98,37 04,3 4,047 3,873 4,8 4,87 4, _ 4,339,8,40,86,3,09,70 4,304 4,7 4,74 4,7 3,3 income security... 3,409r 3,733 4,68 4,047 3,87 4,8 4,87 4, 4,339 4,304 4,7 4,74 4,7 3,34,3 Veterans benefits and services Expenditures... Proprietary receipts from the public... Intrabudgetary transactions... Net expenditures Net lending , veterans benefits and services J96 Interest Expenditures.... Proprietary receipts from the public... Intrabudgetary transactions...,68 3,706,663 7,60 8 8, , interest...,64,686,63,63,6,97,70,73 l,49r,739r,676,63,69,9,774 General government Expenditures... Proprietary receipts from the public... Intrabudgetary transactions... Net expenditures... Net lending... 46r 9r 0 7r 6r , ,77 9r ,776 r ,79 r 9 8 4, ,80 6 3r general government... 43r Undistributed intrabudgetary transactions. 36r , , ,.984. Net budget outlays... 4,89r 6,40 8,07 6,44,3 9,36r 7,49 7,443 7,640 6,78,0 7, 6,46 37, ; 84 4, ,39 9 4,3 0,070, ,48,0,7,3 3, ,47 69, , ,044 9 w d w > t CO o > tr O d» HH o z co Source: On "basis of monthly statement of receipts and expenditures of the Government. Less than $00,000. r Revised. VO

15 io T r e a s u r y Bulletin FFPFVRAT. FISCAL OPERATIONS Table FFO6. Investment Transactions of Government Accounts in Federal Securities (Net) Fiscal year or month Federal OldAge and Survivors Insurance Trust Fund (In millions of dollars) Health, Education, and Welfare Department Housing and Urban Development Department Labor Department Federal Disability Insurance Trust Fund Federal Hospital Insurance Trust Fund Federal Supplementary Medical Insurance Trust Fund Other Renewal and Housing Asst, Housing Federal and Metro. Administration Development Government National Mortgage Assn. Participation Sales Fund Other Federal Insurance Administration Unemployment Trust Fund 96...,097 _ _ _ # , ,7a , , _,46 # ,898, # # ,93, # 97 (Est.).,7,00,74 49 _ ,63 97 (Est.). 3, , Other 970Feb Mar _ 34 _ Apr _ May _ June # July # 3 4 _ Aug _ Sept # _ Oct _ Nov _ 67 _ 44 _ Dec Jan _ 3 70 _ Feb _ ~ 4 8 ~ 3 _# Fiscal 97 to date Fiscal year or month Transportation Department Highway Trust Fund Treasury Department Veterans Administration National Service Life Insurance Fund Other Civil Service Commission Federal Deposit Insurance Corporation Other independent agencies Federal Savings and Loan Insurance Corporation National Credit Union Administration Railroad Retirement Board , _ , , , , , , , , , _ 73 9, , , , , , ,06 97 (Est.).,038 37, , (Est.).,3 49 4, , Feb Mar Apr May ,64 June ,87 July Aug ,6 Sept Oct ,06 Nov Dec , 97Jan Feb ,08 All Other Fiscal 97 to date , ,8 Source: SeeTable FFO Less than$00,000.

16 Table FFO7. Trust Funds Transactions July, 970 through February 8, 97 Classification Net taxes / Budget Receipts Other Gross outlays (In millions of dollars) Outlays Receipts offset against outlays (deduct) Receipts from other accounts within the Budget (Intrabudgetary) Intragoveramental transactions Interest and profits on Federal Federal payments employer investments in Other and contributions contributions Federal J Securities / Trust interfund transactions on non Interest (Financial Federal interchange) securities Receipts from outside the Budget (Proprietary) Federal OldAge and Survivors Insurance.,... 6,744,6 y 8,860 0, ,68 8, Other Net UU A+ UXc\ya five Excess of receipts or outlays() VO > Federal Disability Insurance...,44 7 y,73, ,03 68 Federal Hospital Insurance..., y,974 3, ,06, Federal Supplementary Medical Insurance / 8, Federal Employees Retirement...,6,6,4 8,0 64,03 6,46 Federal Employees Life and Federal Deposit Insurance Corporation Airport and Airway Highway ,793 3,793 3,33 86 ' 86 3,47 64 Indian Tribal Funds Military Assistance Advances Railroad Retirement /, ,07 6/ 476.FEDERAL FISCAL OPERATIONS, Unemployment ,0 y,33 6/ 3, ,38 6/, Veterans Life Insurance All other trust _ ,39 6,89 33,647 38,74,48,69,8 8 6,637 3,07,077 3,008,639 / Amounts are stated net of refunds. / Includes payment for militaxy service credits and special benefits. / Includes interest payments from other funds and interest on uninvested funds. y Includes deposits by States. / Premiums on insurance. 6/ Excludes advances from and repayments to the Railroad Retirement Account. Less than $00,000.

17 .FEDERAL OBLIGATIONS, Treasury Bulletin "Obligations are the basis on which the use of funds Is controlled in the Federal Government. They are recorded at the point at which the Government makes a firm commitment to acquire goods or services and are the f ir s t of the four key events order, delivery, payment, consumption which characterize the acquisition and use of resources. In general, they consist of orders placed, contracts awarded, services received, and sim ilar transactions requiring the disbursement of money. The obligational stage of Government transactions is a strategic point in gauging the impact of the Government s operations on the national economy, since i t frequently represents for business firms the Government commitment which stimulates business investment, including inventory purchases and employment of labor. Disbursements may not occur for months a fter the Government places it s order but the order i t s e l f usually causes immediate pressure on the private economy. Obligations are cla ssifie d according to a uniform set of categories which are based upon the nature of the transaction without regard to it s ultimate purpose. A ll payments for salaries and wages, for example, are reported as personnel compensation, whether the personal services are used in current operations or in the construction of cap ital 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, obligations that are incurred within the Government are distinguished from those incurred outside the Government. Tables FO, 3, and 4 show only those incurred outside. Obligation data for the administrative budget fund accounts were f ir s t published in the September 967 Treasury B ulletin and the trust fund accounts were f i r s t published in the October 967 B ulletin. Beginning with the April 968 Bulletin, the data are on the basis of the budget concepts adopted pursuant to the recommendations of the President's Commission on Budget Concepts.

18 A p r i l FEDERAL OBLIGATIONS. Table FO. Gross O b lin tia n s Incurred W ithin and Outside the Federal Government by Object Class, February 8, 97 Object class (In millions of dollars) Gross obligations incurred Outside Within Personal services and benefits Personnel compensation... Personnel benefits... Benefits for former personnel... 6,690,96,649 6,690 4,84,649 Contractual services and supplies Travel and transportation of persons. Transportation of things... Rent, communications, and utilities.. Printing and reproduction... Other services... Supplies and materials ,789,30 03,7, ,4,396,37,749, ,69 6,783 Acquisition of capital assets Equipment... Lands and structures... Investments and loans... 8,99,03 7,847, ,78, 7,90 Grants and fixed charges Grants, subsidies, and contributions. Insurance claims and indemnities... Interest and dividends... Refunds... 3,86 38,8, ,70 39,, Other Undistributed U.S. obligations... Obligations incurred abroad... Unvouchered... 3,36 4, ,97,800 Gross obligations incurred /...,96 4,67 80,64 Source: Reports on Obligations, Standard Form, from agencies. / For Federal Budget presentation a concept of "net obligations incurred" is generally used. This concept eliminates transactions within the Government and revenue and reimbursements from the public which by statute may be used by Government agencies without appropriation action by the Congress. Summary figures on this basis follow, (ftiis data is on the basis of Reports on Obligations received from the agencies prior to reports submitted for Budget presentation and therefore may differ somewhat from the Budget document.) Gross obligations incurred (as above)... $3.80,634 Deduct: Advances, reimbursements, other income, etc ,93 Offsetting receipts......,3 Net obligations incurred... 3,797 Less than $00,000.. j Table FO. Gross Obligations Incurred Outside the Federal Government by Major Function and Major Object Class, February 8, 97 (in millions of dollars) Major function Personal services and benefits Contractual services and supplies Major object class Acquisition of capital assets Equipment Lands and structures Investments and loans Grants and fixed charges 9,36,0 8, ,480 4, Other International affairs and finance , ,096 38,637 43,033 Agriculture and rural development ,6 7 3,73 4,70 3,39 7,38, ,00 ',9, ,9 34 0,864 Community development and housing ,04,36 3, ,836 8,870 Health ,84 0, ,787 9,94, , ,0 0,80 0,80 General government...,663, , ,94 30,84 8,99,03 7,847 73,409,3,96 Less than$00,000.

19 Classification Personal services & benefits Personnel Personnel compensation benefits y Table FO3. Gross Obligations Incurred Outside the Federal Government by Department or Agency, February 8, 97 Contractual services and supplies' Benefits Travel and Rent, communications, $nd Printing for transportatiotation of and repro Transpor former personnel of persons things utilities duction (In millions of dollars) Other services Supplies and materials Acqulsition of Grants and fixed charges Other Lands Investments subsidies, claims Interest Grants, Insurance Undistributed U. S. tions in Un Obliga Equipment struc and and con and indem and and tures loans tributions nities dividends Refunds obligationcurred abroad REPOR' PS NOT RE Executive Office of the President... 8 _ # ICEIVED # 0 Funds appropriated to the President: q # I # ,009 Agriculture Department: 3 4 9,67,94 3,396 3,373 3, # ,79^, , # 3 6 Defense Department: Military: vouch ered gross obligations incurred > ,04, _ _,77 4,366, ,8,38 3, ,76, ,93,393 3, ,33, , , ,633 8 # «0 39,049,93,9 94, ,764 8,030 8, »4Z3 >69 Civil & 4 9 " 78.,364 Health, Education, and Welfare ,347 6,797 37,730 Housing and Urban Development Department: Government National Mortgage ,0 3 3,97 Interior Department , # # ,94 3,4 4,96 Post Office Department... 4, , , ,77 Treasury Department: Interest on the public debt... 0,76 0,76 Interest on refunds, eto National Aeronautics and Space Other Independent agencies: 77 # 3 3 4, , _, , ,033, ,036 4, ,0 3, ,69 38 # 6 « , ,690,96, ,789,30 03,7,387 8,99,03 7,847 3,86 38,8, ,36 4,90,96 Source: Heports on Obligations, Standard Forms, fromagencies. Note: Agency shifts are shown in this table beginning with the period of such shifts. The amounts for the complete fiscal year are adjusted at that time. / For purposes of this report this object class is considered as totally within the Federal Government except for the Depsirtment <of Defen!se and Tran;sportation :Department,U. S. Coast Guard. Includes reports for Library of Congress, Government Printing Office, and General Accounting Office only. Less than $00,000..FEDERAL OBLIGATIONS. I

20 Table FO4. Gross Obligations Incurred Outside the Federal Government Comparative Statement by Months Object Class (In millions of dollars) Fiscal year 970 Fiscal year 97 Feb. Mar, Apr. May June p July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Cumulative to date Comparable period FY 970 V O ^ National defense: Personal services and benefits: Personnel compensation... Personnel benefits... Benefits for former personnel. Contractual services and supplies: Travel and transportation of persons. Transportation of things Rent, communications, and utilities.. Printing and reproduction... Other services.... Supplies and materials Acquisition of capital assets: Equipment..... Lands and structures... Investments and loans... Grants and fixed charges: Grants, subsidies and contributions. Insurance claims and indemnities... Interest and dividends... Refunds Other: Undistributed U.S. Obligations. Obligations incurred abroad... Unvouchered national defense. Nondefeflse: Personal services and benefits: Personnel compensation... Personnel benefits... Benefits for former personnel. Contractual services and supplies: Travel and transportation of persons... Transportation of things... Rent, communications, and utilities... Printing and reproduction... Other services.... Supplies and materials... Acquisition of capital assets: Equipment... Lands and structures... Investments and loans... Grants and fixes charges: Grants, subsidies, and contributions. Insurance claims and indemnities... Interest and dividends... Refunds... Other: Undistributed U.S. obligations. Obligations incurred abroad... Unvouchered..., , ,87, ,36,93 4,098,3 6, ,030, ,306, ,3 4,699, , , , ,669,0, , ,6 747, , ,30, , ,077,06, , , , ,07, , ,663,, , ,030 4, , , ,84,93,9 603, ,489 8,0 6,494,986 8,846,0 6,7 6,86 6,336 7,47 7,3 6,086 6,4 4,, ,067,04,339 67,96 6,94 / ,736 4,47,99 94, ,6,6 4,73, , ,98 4,44,44,83 48, ,744 4,60, , ,009 4,30 3,979, , ,6,377, , ,38 3,0 4,78, , ,373 3,887,006, , ,99,00, , ,736 4,974, , ,478 3, ,78 3, ,33 7, 3,830 38,080,0 33 3,360 43,084,793, , ,98 0,39 7, ,63 3,770 9, ,379, ,07 8,8 3,383 0,8 80 3, FEDERAL OBUGATIONS, nondefense. Grand total... 0,7 6,096,36 8,668 6,07,0 6,37,07 0,69 3,908,77 3,080,043 3,03 0,70 8,496,08 9,66 7,0 0,773 9,08 0,08,9 9,08 7,976, ,38 / Includes $,03 million for Post Office Department, covering obligations for the period April 3 through May 9. This Department has 3 reporting periods. Less than $00,000. p Preliminary.

21 Treasury Bulletin ACCOUNT OF THE TREASURER OF THE UNITED STATES Source and Availability of the Balance in the Treasurer s Account T h e w o r k i n g c a s h of t h e T r e a s u r y is h e l d m a i n l y in Treasurer!s accounts with Federal Reserve banks and branches. As the balances in these accounts become depleted, they are restored by calling in (transferring) funds f r o m the tax and loan accounts with thousands of commercial banks throughout the country. Deposits to t ax a n d loan accounts occur in the normal course of business under a uniform procedure applicable to all banks whereby customers of banks deposit wi t h them tax payments and funds for the purch a s e of G o vernment 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 a re p e r m i t t e d to deposit in these accounts proceeds from subscriptions to public debt securities entered for their o w n a c c o u n t as w e l l as for the a c c o u n t 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 operations. In this way the Treasury is able to neut r a l i z e the effect of its fluctuating operations on bank reserves and the economy. A detailed description of the Treasury's depositary system may be f o u n d in the A n n u a l R e p o r t of the S e c r etary of the Treasury for 9, p a g e s 784. Table TUS. Status of the Account of the Treasurer of the United States (In millions of dollars) Assets End of fiscal year or month Available funds in Federal Reserve banks Treasuiy operating balance Tax and loan accounts in special depositaries Gold balance in Treasury operating balance Silver balance, coinage metal, coin, and currency Unclassified collections, etc. / In Federal Reserve banks in process of collection In other depositaries assets Liabilities / Balance in account of Treasurer of United States ,8 9, , , ,34 0, ,6 _, ,80 0 0, ,036, ,689 08, ,60, ,00 0 0, ,407, ,3 4,7,69, ,79 7,79 96S...,074 4,3, ,694 6, ,8 4,, ,04 7, ,00 6,99 8, ,06 9,06 969Dec...,3 3,903, ,4 6,4 970Mar...,9,630 6, ,87 _ 7,87 Apr...,784,3 7, ,49 8,49 May...,9 4,60 6, ,834 6,834 June...,00 6,99 8, ,06 9,06 July...,00 6,087 7, ,074 _ 8,074,06 6,74 7, ,98 _ 7,98 Sept...,38 7,489 8, ,674 9,674 Oct... 90,4 6, ,6 7,6 Nov... 87,7 0, ,733. 6,733 Dec...,6 6, , ,769 8,769 97Jan ,3 09 9, ,60 0,60 Feb...,064 6,7 09 7, ,84 _ 8,84 Mar ,6 09 4, ,3,3 Source: Daily Treasury statement. / Amounts shown, beginning Januaiy 963, are net of uncollected items, exchanges, etc. Previously these items were included under liabilities. / Includes reserves and other deposits of the Board of Trustees, Postal Savings System, and uncollected items, exchanges, etc., through December 96. Effective January 963 balances of the Postal Savings System funds were transferred to deposit fund accounts and became demand obligations of the Treasuiy. Balances of these funds, therefore, are no longer liabilities within the general account of the Treasurer. Uncollected items, exchanges, etc,, also previously shown as liabilities were combined with "Unclassified collections, etc." shown under assets.

22 A p r i l 9 7.ACCOUNT OP THE TREASURER OP THE UNITED STATES. Table TUS. Analysis of Changes in Tax and Loan Account Balances 7 (In millions of dollars) Credits Balance Proceeds from sales of securities / Taxes During period Fiscal year or month Savings bonds and savings notes / Retirement plan and tax and loss bonds / Tax anticipation securities Other Withheld, excise, and corporation ij Income (by special arrangement) / credits Withdrawals End of period High Low Average ,7,699,760,63,704,783,673,99,73,898,963,340 7,368 7,643 9,38 0,408 3,043 3,774 3,830,04,67,73 9,76,47 3,640 37,9 4,67 43,80 4,47 48,478 70,4 90,79 3,906 3,460 6, 6,83 9,9,98 4, 9,7 6,438 7,9 8,77 60,00 74,699 9,38,83 4,333,7 3,076 6,08 9,4 8,40 7,338 97,60,74 4,9 49,37 8,8 0,34 9,80 0,689 0,00 4,7 4,3 4, 6,.99 8,889 0,34 0,7 0,87,74 9,979 8,004 9, ,3,3,77, , ,47,3 4,747,43 4,34 3,77 4,9 4,39 4,0 970Mar.. Apr.. May.. June. July. Aug.. Sept. Oct.. Nov.. Dec.. 97Jan.. Feb.. Mar ,438 4,4,40,3,34 944,088,000,90 499,33,79 0,33 4,9 9,3 9,89,67 8,0 9,9,8 8,90,98,768,994,944,076,43 4,000,44,86 0,868 0,440 4,6 0,7,6 3,4,97,4,94,89 4,84,3 0,0,933 0,646,94 8,474 4,49 6,70,630,3 4,60 6,99 6,087 6,74 7,489,44,7 6,834 8,3 6,7 3,6 6,666,3 6, ,60 7,80 7,840 7,04,969 7,996 8,3 8,83 6,70 3,487,06 3,468,677 3,98 3,86,467,97,79,997,969,67,636,33 3,44 4,80 4,63,68,80,9,099 4,43,733, 6,699 4,0 Source: Office of Fiscal Assistant Secretary; figures are an basis of telegraphic reports. / Special depositaries are permitted to make payment in the form of a deposit credit for the purchase price of U.S. Government securities purchased by them for their own account, or for the account of their customers who enter subscriptions through them, when this method of payment is permitted under the terms of the circulars inviting subscriptions to the issues. / United States savings notes first offered for sale as of May, 967 and were discontinued after June 30, 970. / Retirement plan bonds first offered for sale as of Januaiy, 963; tax and loss bonds first issued in March 968. y Taxes eligible for credit consist of those deposited by taxpayers in the depositaiy banks, as follows: Withheld income taxes beginning March 948; taxes on employers and employees under the Federal Insurance Contributions Act beginning Januaiy 90, and under the Railroad Retirement Tax Act beginning July 9; a number of excise taxes beginning July 93; estimated corporation income taxes beginning April 967; all corporation income taxes due on or after March, 968; and FUTA.taxes beginning April 970. Under a special procedure begun in March 9, authorization was given during certain periods for income tax payments, or a portion of them made by checks of $0,000 otr more drawn on a special depositary bank, to be credited to the tax and loan account in that bank. This procedure was discontinued in April 967. Less than $00,000.

23 8 Treasury Bulletin ACCOUNT OP THE TREASURER OP THE UNITED STATES Table TUS3. Summary of Cash Transactions through the Account of the Treasurer of the United States (In millions of dollars) Net cash transactions other than borrowing Fiscal year or month Deposits and withdrawals (budget and other accounts) Cash Cash withdrawals deposits. / Excess of deposits, or withdrawals () Clearing accounts / net transactions Plus: Net cash borrowing, or repayment of borrowing () Equals: TreasurerTs account balance, increase, or decrease () ,9,88 6,78,9,08 8,7 3, ,44 8,477 4,03,039,984 i>,670, ,6 4,047,48,49 3,97,89, ,464 6, , 3,089, ,09 4,9,09,07,7, ,036 64,9, ,747 4, ,086 84,8 9,49,09,90 0,, ,73 0,49 43,98,684, ,9k 3,648 3,73,6,67 4,079,9 970Mar... 4,888 7,83, ,068 3,94 6 Apr...,30 8,86 3,344,6 4,90 4,8 60 May... 6,309 9,3, ,3,6,660 June... 3,9 9,7 4, ,94,79,8 July... 3,6 9,9 6,03,043 7,078 6,36 94 Aug... 6,8,64,790,38 3,409 3,36 9 Sept... 0, 7,04 3, ,46,74,69 Oct...,9 8,73,6 7,380,868,,60 7,48,988,79 3,707 3,78 49 Dec... 7,94 0,766 3,73,3,80 3,88,03 97Jan... 7,890 7, ,836 Feb... 7,930 9,98,03 768,8,070,7 Mar...,036 8,880 3, , ,34 Fiscal 97 to date... 46,74 7,86,3,07 3,46 9,93 3,03 Source: Daily Treasury statement. Figures in the first four columns may / Beginning with the February 963 Bulletin, figures have been revised, differ somewhat from those originally published in the daily Treasury as shown in the daily Treasury statements beginning Januaiy, 963, statement because of subsequent reclassification of certain trans to exclude transactions of clearing accounts, actions. / Previously included under cash withdrawals. See footnote. Table TUS4. Gold Assets and Liabilities of the Treasury (In millions of dollars) End of calendar year or month Gold assets / Liabilities: Gold certificates, etc. / Balance of gold in Treasurer s account,978,8 6,3, ,388,3 7 3,733 3/ 3, ,9 3,04 8,98,870 0,367 0,6 0,367 0,6 0,73 0,663 09,367,6,367,6,367,6,367,6,367,6,367,6 Sept......,7,006,7,006,7, ,73 0, ,73 0,63 09 Feb... 0,73 0,63 09 Mar... 0,73 0,63 09 Source: Circulation Statement of United States Money through 96; daily Treasury statement thereafter. / Treasury gold stock; does not include gold in Exchange Stabilization Fund. See "International Financial Statistics," Table IFS. / Comprises gold certificates held by the public and in Federal Reserve Banks, the gold certificates fund Federal Reserve System, and gold deposited by and held for the International Monetary Fund. Prior to March 968 also includes (l) reserve of $6 million against United States notes and through June 30, 96, Treasury notes of 890 and () the redemption fund Federal Reserve notes (Pursuant to P. L approved March 8, 968, this fund was combined with gold certificate fund Federal Reserve System). 3/ The United States payment of the $9 million increase in its gold subscription to the International Monetary Fund, authorized by P.L. 893 > approved June, 96 (79 Stat. 9) was made on June 30, 96.

24 April 97 MONETARY STATISTICS, 9 Table MS. Money in Circulation (In millions of dollars except per capita figures) End of fiscal year or month Federal Reserve bank notes National bank notes Cui rencies no lcrnger issued Gold certificates / Silver certificates Federal Reserve notes / Treasury notes of 890 Currencies presently being issued / United States notes Federal Reserve notes / currencies 8 3 9, ,86 3, , ,74 3, , ,338 34, ,80 36, ,3 38, ,89 40, ,7 4, ,47 4, ,66 48,3 969Dec ,334 47,99 970Feb ,40 46, ,079 46, ,386 46, ,98 47,8 June ,66 48, ,730 48, ,900 48,498 Sept ,003 48, ,07 48,808 Nov., ,6 0, ,04 0,8 97Jan ,48 49,09 Feb ,734 49,34 End of fiscal year or month Standard silver dollars Coin Fractional coin coin money in circulation / Money in circulation per capita (in dollars) 6/ ,93,466,73 3,80 3,78 4,60 4,87, ,6,878 3,0 3,66 4,64 4,64,309,790 6,8 33,770 3,470 37,734 39,70 4,4 44,7 47,640 0, Dec.. 48,39 6,0 3, Feb.. Mar.. Apr.. May.. June. July. Aug.. Sept. Oct.. Nov.. Dec.. 97Jan.. Feb ,06,46,7, ,664,689,7,73,769,800,773,78,988 6,08 6,03 6,084 6,8 6,4 6,70 6,93 6,3 6, 6,8 6,4 6,66,03,70 3,034 3, ,473 4,669 4,79,0 6,38 7,093 7/,34,6 4.9r r 69. Source: Circulation Statement of United States Money through December 96; 4/ thereafter, Statement of United States Currency and Coin. j>/ / Excludes gold certificates, Series of 934, which are issued only to Federal Reserve banks and do not appear in circulation. 6/ / Issued prior to January 30, 934. / / Issued prior to July, 99. Issued on and after July, 99. Excludes money held by the Treasury and money held by or for the accountof the Federal Reserve banks and agents. Based on the Bureau of the Census estimated population. Highest amount to date. Less than $00,000. r Revised.

25 0 FEDERAL DEBT. Table FD. Summary of Federal Debt Treasury Bulletin (In millions of dollars) outstanding Securities held by: End of fiscal year or month Dec., 306,8 33,983 30,344 36, ,84 344,676 37, , ,046 Public debt securities 98,0 30,860 3,73 37,74 39,907 36, 347,78 33, ,6 Agency securities 7,97 8,3 8,63 9,33 3,377 8,4 4,399 4,49,0 3,80 4,98 6,34 9,0 6,40 64,784 73,89 79,40 87, ,97 Government accounts Public debt securities 4,,638 8,98 6,07 64,36 7,809 76,38 84, ,04 Agency securities ,00 3,00,846.3,884 IMF & International lending organizations /,837 3,76 3,8 3,4 3,80 3,38, ,373 4,46 47,3 6,64 64,690 67,9 90,69 79,483 84,880 89,94 The public / Public debt securities 4,09 47,046 49,33,748,78,084 69,3 68, ,38 Agency securities 7,64 7,46 8,00 8,866 ;909 6,44,398, , Feb., Mar., Apr., May., June, July, Aug., Sept, Oct., Nov., Dec., 97Jan., Feb., 38,8l4r 384, ,4 383, , ,370 39,^0 39,66 396,00 49,60 40,84 403,67 368,847 37, ,94 37, ,68 380,90 378, ,00 383, ,8 388,34 390,664,967r,987,948,670,0,47,469,48,46,460,49 3,04,03 9,07 9,894 9,73 94, ,337 98,9 98,089 97,03 97,6 99,687 99, 00,304 89, ,93 9, , ,487 94,48 94,64 97,093 96,660 97,996,80,6,39,6.3,70,84,60,64,97,94,6, ,96r 9,7 86,84 88,036 84,880 90,877 93,93 9,46 94,808 98,3 30,38 30,798 30,038 78,74 80,84 76,76 77, ,976 83,708 8,367 84,97 88,0 9,40 90,86 9,844 0,3$7r 0,46 0,408 0, ,90 8,88 9,880 9,8 9,863 9,897 0,94 0,94 Source: Daily Treasury statement and monthly statement of receipts and expenditures of the Government. / Represents noninterest bearing public debt securities issued to the International Monetary Fund, and prior to FI 967 to the International Development Association, and the InterAmerican Development Bank in recognition of U.S. Government subscription commitments. Since June 96 letters of credit have been issued in lieu of the special notes. All outstanding notes have been converted to letters of credit with the exception of those for IMF. / Includes holdings of Federal Reserve banks, r Revised. Table FD. Computed Interest Charge and Computed Interest Rate on InterestBearing Public Debt (Dollar amounts in millions) End of fiscal year or month interestbearing public debt Computed annual interest charge interestbearing public debt Bills / Computed annual interest rate Marketable issues Certificates Notes Treasuiy bonds Nonmarketable issues / Special issues ,44 9, ,94 0, ,37 0, ,3, ,43, ,86, ,40, ,79 7, ,06 0, Dec , 9, Mar ,963 0, _ ,099 9, May ,44 0, June ,06 0, July ,6 0, Aug ,90, '.408 Sept ,80 0, Oct ,34, Nov... 38,667, Dec ,, Jan ,487 0, _ Feb ,648 0, Mar ,777 0, Footnotes at end of Table FD.

26 A p r i l 9 7.FEDERAL DEBT. Table FD3. InterestBearing Public Debt (in millions of dollars) Public issues End of Fiscal year or month interestbearing public debt public issues Marketable Bills Certificates Notes Treasury bonds U.S. savings bonds Treasury bonds investment series Nonmarketable Depositary bonds Foreign series securities / Foreign currency series securities / Other / Special issues Dec., 94,44 30,94 307,37 33,H3 3,43 3,86 344,40 3,79 369,06 366, 49,03 7,3 60,79 64,463 64,3 66,3 84,874 84,940 9,70 9,3 96,07 03,08 06,489 08,69 09,7 0,67 6,9 6,07 3,99 3,863 4,036 47,30 0,740 3,66 4,99 8,3 64,440 68,36 76,4 80,7 3,47,69,6,60 6,464,4 67,84,49 0,649 49,08 7,073 78,946 93,489 8,44 7,0 8,964 88,464 0,48 0,897 97,48 9,079 78,80 6,96 69,878 3,43 3,64 4,40,768,83,49 8,8 8,833 60,03 9,30 47,607 48,34 49,99 0,043 0,37,3,7,7,8,49 4,77 3,9 3,46 3,6,69,89,6,49,387 ', , ,00,703 3,389, , ,740,367,366, l4l ,66,87 44,939 (4,80 46,67 48,60,0 6, 9,6 66,790 76,33 7, Mar., Apr., May., June, July, Aug., Sept Oct. Nov. Dec., 97Jan. Feb. Mar., 369,963 36, ,44 369,06 374,6 378,90 376,80 378,34 38, , 386, , ,777 97,889 93,339 9,83 9,70 98,7 30, ,39 30, ,04 309,46 308, ,70 309,78 38,9 33,998 36,6 3,99 37,8 40, 39,330 4,80 44,447 47,73 47,667 48,09 47,47 83,79 79,67 80,06 76,4 8,437 8,84 80,69 83,697 84,6 87,93 87,98 89,303 88,977 9,368 9,8 93,499 93,489 93,487 99,9 99,9^0 99,8 0, ,83 04,30 63,098 63,06 63,006 6,96 6,897 8,733 8,699 8,68 8,6 8,63 8, 4,07 4,7 9,694 9, ,03 60,707 60,888 60,809 60,696 6,77 6,434 6,06 6,67 6.7,3,8,307,8,300,37,44,37,693,84,98,04,34,4,408,388,387,386,386,383,380,378,370,369,368, ,873,60,34 3,389 3,9 4,076 3,97 3,7 4, , ,7, JL, ,366,366,366,366,366,366, ,649,66,79,66,6,63,478,00,49,463,383 7,074 7,760 73,33 76,33 76,094 77,06 76,68 7,448 7,643 78,06 77,73 78,898 80,049 Source: Daily Treasury statement. / Consists of certificates of indebtedness, Treasury notes beginning January 963, and Treasury bonds beginning September 964, sold to foreign governments for U. S. dollars. / Consists of the dollar equivalent of Treasury certificates of indebtedness; Treasury bonds beginning October 96; and Treasury notes beginning November 966 issues and payable in designated foreign currencies. 3/ Includes Treasury bonds, Rural Electrification Administration series beginning July i960; retirement plan bonds beginning January 963; Treasury certificates beginning June 963. Treasury bonds beginning January 964; and U.S. savings notes beginning May 967 and discontinued after June 30, 970. Table FD4. Maturity Distribution and Average Length of Marketable InterestBearing Public Debt / (in millions of dollars) End of fiscal year or month Amount outstanding Within year years Maturity classes 0 years 00 years 0 years and over Average length ,07 88,44 7,04 6,049 9,39, 4 yrs. mos ,08 8,94 8,06 37,38 8,360 4,444 yrs. mo ,489 8,44 6,43 34,99 8,3 6,38 yrs. 0 mo ,69 87,637 6,98 39,69 8,449 7,4 yrs. 4 mos ,7 89,36 60,933 33,96 8,439 7,03 4 yrs. mos ,67 89,648 7,44 4,378 8,4 6,797 4 yrs. 7 mos ,9 06,407 64,470 30,74 8,407 6,3 4 yrs. mos ,07 03,90 6,770 34,837 8/374 6,7 4 yrs. 0 mo ,99 0,30 89,6,88 0,4,048 3 yrs. 8 mos. 969Dec... 3,863 8,4 73,30 0,06 8,38 6,04 3 yrs. 8 mos. 970Mar... 38,9,7 7,889 9,39 0, U, 3 yrs. 6 mos. Apr... 33,998 7,48 7,8 9,39 0,4,4 3 yrs. 6 mos. 36,6 09,43 89,63,879 0,34,08 3 yrs. 8 mos. June... 3,99 0,30 89,6,88 0,4,048 3 yrs. 8 mos. July... 37,8 0,83 89,64,876 0,4,004 3 yrs. 6 mos. Aug... 40, 09,830 9,07 8, 0,07 0,978 3 yrs. 7 mos. Sept... 39,330 08,67 9,066 8,40 0,0 0,9 3 yrs. 6 mos. Oct... 4,80,636 90,99 8,38 0,493 0,9 3 yrs. mos. 44,447 0, 8,30, 8,66 0,900 3 yrs. 6 mos. Dec... 47,73 3,43 8,38,3 8,6 0,863 3 yrs. 4 mos. 97Jan... 47,667 3,48 8,36,3 8,4 0,839 3 yrs. 4 mos. Feb... 48,09,34 86,0 7,97 8,9 0,8 3 yrs. 7 mos. Mar... 47,47 4,940 86,0 7,99 8,3 0,780 3 yrs. 6 mos. Source: Office of Debt Analysis in the Office of the Secretary. / All issues are classified to final maturity except partially taxexempt bonds which have been classified to earliest call date. The last of these bonds were called on August 4, 96, for redemption on December, 96.

27 Treasury Bulletin, FEDERAL DEBT. Table FD. Special Public Debt Issues (in millions of dollars) End of fiscal year or month Federal Federal employees' Deposit retirement Corpora Insurance funds tion Federal Disability Insurance Trust Fund Federal home loan banks Federal Hospital Insurance Trust Fund Federal OldAge and Survivors Insurance Trust Fund Government Life Insurance Fund Federal Savings and Loan Insurance Corporation Highway Trust Fund National Service Life Insurance Fund Railroad Retirement Accounts Unemployment Trust Fund Other i/ ,939, ,3<A 74 _,074 8,08 436,804 3»3i! 4, ,80,438 60,6 37 4, 98, ,74,786 M Q ,67 3,30 70, , ,783,969 4, ,60 4,77 3,63 00, ,909 3,3, ,0,89 7, , ,3 3,77 7, ,,69 8,376,9 7, l4 7,744 3,339 7,78, ,6,668 74,89,9 9, ,86 3,303 8,807, ,790 7, ,890, ,3,74 3,434 9, ,33 3, ,43 99,83, ,60,9 3,7 0, Dec... 7,008 7, ,48 33,408 3, ,93,769 3,3 0, Mar... 7,074 8, ,838 38,380 4, ,4,763 3,40 0,3 484 Apr... 7,760 8, ,94 0,407 4,4 8 78,346,74 3,04 0,0 494 May... 73,33 7, ,34 98,408, ,88,77 3,033 0, June... 76,33 8, ,43 99,83, ,60,9 3,7 0,0 497 July... 76,094 9, ,497 03,479, ,739,906 3,637 0,8 43 Aug... 77,06 9, ,69 7,70 6, ,77,89 3,9 0,633 4 Sept... 76,68 9,30 9 4,68 40,83, ,734,88 3,7 0,3 39 Oct... 7,8 9, ,660 86,39?, ,7,868 3,34l 0,0 6 Nov... 7,643 9,47 7 ^,736 99,304, ,90,83 3,334 0, Dec... 78,06 0, , ,093, ,83,96 3,396 9, Jan... 77,73 0,7 4 4, ,037, ,936,90 3,64 9,4l4,00 Feb... 78,898 0,3 64 4, ,03, ,6 6,0 3,343 9,607,660 80,049 0,43 3,9 683,96 6, ,30,99 3,33 8,9,697 Source: Daily Treasury statement. / Consists of: Postal Savings System through 96; Federal Housing Administration Funds; Employees Life Insurance Fund; Exchange Stabilization Fund; Veterans' Special Life Insurance Fund; Veterans Reopened Insurance Fund beginning May 96; Federal Supplementary Medical Insurance Trust Fund beginning July 966; Employees Health Benefits Fund beginning October 970; ExportImport bank of the United States from February 967 October 968; and Servicemen's Group Life Insurance Rind from August 969 April 970. Footnotes to Table FD Source: On the basis of the daily Treasury statement. Note: The computed annual interest charge represents the amount of interest that would be paid if each interestbearing issue outstanding at the end of each month or year should remain outstanding for a year at the applicable annual rate of interest. The charge is computed for each issue by applying the appropriate annual interest rate to the amount outstanding on that date (the amount actually borrowed in the case of securities sold at a premium or discount, beginning with May i960). The aggregate charge for all interestbearing issues constitutes the total computed annual interest charge. The average annual interest rate is computed by dividing the computed annual interest charge for the total, or for any group of issues, by the corresponding principal amount. Beginning with data for December 3, 98, the computation is based on the rate of effective yield for issues sold at premium or discount. Prior to that date it was based on the coupon rate for all issues. / Included in debt outstanding at face amount, but discount value is used in computing annual interest charge and annual interest rate. / On United States savings bonds the rate to maturity is applied against the amount outstanding.

28 A p r i l 9 7 ltrnebat. nrbt 3 Table FD6. InterestBearing Securities Issued by Government Agencies j/ End of fiscal year or month Agriculture Department Commodity Credit Corporation J Defense Department Family housing mortgages and Homeowners assistance mortgages (In millions of dollars) Housing and Urban Development Department Federal Housing Administration Government National Mortgage Association Participation Sales Fund Other Federal National Mortgage Assn. y Secondary market operations Other Independent agencies ExportImport Bank of the United States Farm Credit Ad(ministration Banks for cooperatives V Federal Intermediate credit banks ij ,97 _,30 /x?jv #, , ,3,68 86, , ,63,38 793,699 87, ,33, ,797,0 709, ,377, 4 a,0 3,69,38 88, ,4, ,830 4,079,64,07 3, ,399,9 48 7,900,887,7,30 3, ,49, ,600 _, ,0,77 7 7,30, Dec... 3,80 34,87 7 8,060,93 970Feb....,967r l,80r 7,ao _,6,987 96,797 7,ao,4,948 86,79 3 7,390,43,670 7, ,390,893,0,77 7 7,30,893 July...,47 _, ,8,890 _ Aug...,469,76 7,8,886,48,746 7,8,884,46, ,8,88,460, ,,88,49, ,30,88 97Jan... 3,04 _, ,30,88 _ Feb...,03, ,430 ~,63 End of fiscal year or month Other independent agencies (Continued) Federal Home Loan Bank Board Tennessee Valley Authority Other Banks for cooperatives U Federal home loan banks (Memorandum) Federal intermediate credit banks V Federal land banks Federal National Mortgage Association / / District of Columbia Stadium Fund _,797, _ ,770 _,7 _ ,0 _,974 _ ,77 _ 3,3 _ ,30 4,06 _ a 7 3 4,88 _ 4,6 _ ,70 _,39 _ i,ai,4 4,40,70 8, ,9 9,94 4,94 6,9 3, Dec ,49 8,43 4,80,93 0, 0 970Feb ,96 9,7 4,379 6,074, ,9 9,846 4,486 6,040, ,6 0,03 4,6 6,37, ,9 9,9 4,80 6,6, ,9 9,94 4,94 6,9 3,6 0 6,006 3,38 0,03,044 6,9 3,40 0 Aug... 6,0 3,7 0,00 4,984 6,378 3, ,04 3,6 0,66 4,903 6,36 4,397 0 Oct... 6,06 3,60 0,77 4,88 6,409 4, ,00 3,70 0,0 4,83 6,406, ,66 3,776 0,3 4,863 6,40, Jan... 6,88 3,806 0,a 4,909r 6,40,3 0 Feb... 6,4 3,839 9,63,03 6,36, 0 Source: Bureau of Accounts. / Includes unredeemed matured securities outstanding on which interest has ceased. / Certificates of interest in the amount of $,90 million were reclassified July, 969 from budget transactions to agency securities. / Effective September 30, 968, Federal National Mortgage Association was converted to private ownership pursuant to provisions of the Housing and Urban Development Act of 968 (P.L ). id Effective December 3, 968, Banks for cooperatives and Federal intermediate credit banks were converted to private ownership pursuant to provisions of Public Law 908, October 7,968. j>/ Includes mortgage backed bonds beginning June 970. Less than $00,000. r Revised.

29 4 FEDERAL DEBT Table FD7. Participation Certificates Treasury Bulletin Fiscal year or month Agriculture Department Commodity Credit Corporation (in millions of dollars face amounts) ExportImport Bank of the United States Participation certificates issued by GNMA acting as trustee Farmers Home Administration / Health, Education, and Welfare Department / Sales Retirements Outstanding Sales Retirementstanding Sales Retire Out Outmentstanding Sales Retirements Outstanding Sales Retirements Outstanding _ 300 _ _ _ _ _ 40, _ ,38,840 30,0 _ _,4 i/ 60,/,46, , ,83 3,0 80 7,900, 00 _ t 369,84, ,600 84, ,8,8 3,493,80 7, Feb... _ 3 _ 6,749 _ 60 7,40 _ _ ,74 7,40 76 _ , , _ ,493 7, _ 09 7, , July... _ 3,490 _ 3 7, ,486 7, Sept... 3,484 7, Oct...,48 7, ,48 3b 7, 76 _ 09,48 7, Jan... _,48 _ 7,30 _ Feb... 0, , _ 07 Fiscal 97 to date... 6, , Fiscal year or month Participation certificates issued by GNMA acting as trustee (Continued) Housing and Urban Development Department Office of Secretary lj Government National Mortgage Association J3mall Business Administration 6/ Veterans Administration J (Memorandum) Commodity Credit Corp. (net certificates of interest authorized under Charter Act) 8/ Sales Sales Sales Retirements Outstanding Sales Retirements Outstanding Retirements Outstanding Sales Retirements Outstanding Retirements Outstanding _ _ _ , ,7 67 _, ,40, , , ,704 _ , , , ,88 667, ,09 90, , Feb... _ 99,09 _ 7,76 _ 4 8 8,760 Mar...,09,76 8 _,760 _ Apr...,09 9,707 8 _,749 _,09,707 8 _.,749 June...,09, ,749 _ July...,09 6, ,79 Aug...,09,69 78 _,79 Sept...,09,69 _ 78 _,79 Oct...,09,69 _ 78,79,09 3, _ 7,7,09, ,698 97Jan... _,09,667 78,698 _ Feb ,47 7, ,667 Fiscal , ,667 Investments. / Includes Direct Loan and Loan Guaranty programs. 8/ In the case of Commodity Credit Corporation, participation certificates are called "certificates of interest and are not included in the Participation Sales Act of 966. Amounts shown as sales and retirements represent the net excess transactions for the period. On July, 969 the amount outstanding was reclassified as agency securities. Less than #00,000. Source: Bureau of Accounts. / Includes Direct Loan and Rural Housing Loan programs. / Includes Construction of Higher Education Facilities, Health Professions Education Fund, and Nurse Training Fund, beginning April 968. JJ/ Includes #07 million refunding transaction. lj Includes College Housing, Elderly Housing, and Public Facility programs. Includes Special Assistance, and Management and Liquidating programs. 6/ Includes programs for Disaster Loans, and Business Loans and

30 A p r i l 9 7, FEDERAL DEBT. Table FD8. Debt Subject to Statutory Limitation (In millions of dollars) End of fiscal year or month Statutory debt limit outstanding subject to limitation Public debt securities Agency securities & debt of District of Columbia / Public debt securities Interest bearing debt subject to limitation Agency District of securities Columbia / / Matured debt and debt bearing no interest subject to limitation Public debt securities Agency securities ,000 98, 97, , , , ,099 30, , , ,000 3,64 3, , , ,000 37,8 36, , , ,000 30,0 39, , , ,000 36,47 3,99 3, ,673 # ,000 30, ,9 3,89 344,40 3,798 0, ,000 36,93 33,084 3,847 3,79 3,87 0, , ,4 370,88 3,37 369,06 3,7 0,6 # 969Dec ,000 37,43 367,9 3,84 366, 3,8 0,37 970Mar , ,0 37,37 3,4 369,963 3, 0,4 # 377, ,70 366,6 3,43 36,099 3,3 0, , ,9 370,46 3,39 369,44 3,9 0,3 # 377, ,4 370,88 3,37 369,06 3,7 0,6 # 39, ,07 37,937 3,34 374,6 3,4 0,36 # Aug... 39, , ,7 3,3 378,90 3, 0,36 # 39,000 38,80 378,048 3,3 376,80 3, 0,8 39,000 38,67 379,70 3,0 378,34 3,08 0,46 # 39, ,09 383,0 3,098 38,667 3,078 0,344 Dec... 39,000 39,66 388,30 3, , 3,076 0,78 # 97Jan... 39, , ,7 3, ,487 3,076 0,6 # Feb... 39,000 39,33 390,036,9 388,648,76r 0, , ,343 39,040, ,777,83 0,63 Source: Daily Treasury statement. Note: For debt subject to limitation for fiscal years see Table of the Statistical Appendix to the Annual Report of the Secretary of the Treasury on the State of the Finances for fiscal 969. For a summary of legislation on debt limitation under the Second Liberty Bond Act and the amounts of limitation see Table 3 of the Statistical Appendix. / Of $3,0 million in participation certificates subject to limitation issued in fiscal 968, $,300 million are now outstanding. / District of Columbia Armory Board Stadium Bonds. Less than $00,000. r Revised.

31 6 Treasury Bulletin FEDERAL DEBT Table FD9. Status and Application of Statutory Limitation The S econd Liberty Bond Act (3 U.S.C. 7 7 b ), as amended b y the A ct of M a r c h 7, 97 (Public L aw 9), provides that the face amount of obligations issued u n d e r authority of that Act, and the face amount of obligations guaranteed as to principal and interest b y the United States, shall not exceed in the aggregate $400 billion outstanding at any one time. Public L aw 9 also provides that b e ginning M a r c h 7, 97, and ending June 30, 97, the public debt limit shall be temporarily increased by $30 b i l l i o n to $430 billion. Part A. Status Under Limitation March 3, 97 (In millions of dollars) The Act o f June 30, 967 (Public Law 9039) provides that the face amount o f beneficial interests and participations issued u n d e r section 30(c) o f the Federal National Mortgage Association Charter A ct ( U.S.C. 77(c)) during the fiscal y e a r 968 and outstanding at any time shall be added to the amount otherwise taken into account in determining w h e t h e r the requirements of the above provisions are met. The statutory debt limit established by the Second Liberty Bond Act, as amended (3 U.S.C. 77b) ,000 Amounts outstanding subject to statutory debt limitation: U.S. Government securities issued under the Second Liberty Bond Act, as amended... 39,040 Debt of U.S. Government agencies... $03 Participation certificates ( U.S.C. 77(c))......,800 amount outstanding subject to statutory debt limitation ,343 Balance issuable under limitation... 36,67 Part B. Application of Statutory Limitation March 3, 97 (In millions of dollars) Classification outstanding Source: Daily Treasuiy statement. Less than $00,000. Public debt: Interestbearing debt: Public issues marketable: Treasury bills... 88,977 Treasuiy notes... 04,30 Treasuiy bonds ,7 public issues marketable Public issues nonmarketable: Certificates of indebtedness: Foreign series...,09 Foreign currency series Treasury notes: Foreign series...,47 Foreign currency series...,6 Treasuiy bonds: Foreign series... 4 Treasury bonds... 0 Treasuiy certificates U.S. savings bonds...,34 U.S. savings notes U.S. retirement plan bonds Depositary bonds Treasury bonds, R.E.A. series... 8 Treasury bonds, investment series...,3 public issues nonmarketable... 6,7 Special issues to Government agencies and trust funds ,049 interestbearing debt Matured debt on which interest has ceased Debt bearing no interest: Special notes of the United States: International Monetary Fund series... 8 Mortgage Guaranty Insurance Company Tax and Loss Bonds... 7 U.S. savings stamps $0 Excess profits tax refund bonds... U.S. notes Deposits for retirement of national bank and Federal Reserve bank notes Silver certificates Other debt bearing no interest.... n debt bearing no interest...,9 public debt Debt of U.S. Government agencies: Interestbearing debt Matured debt on which interest has ceased... debt of U.S. Government agencies public debt and debt of U.S. Government agencies... 39,7 Deduct debt not subject to limitation.... Add participation certificates......,800 subject to limitation

32 April 97 FEDERAL DEBT Table FD0. Treasury Holdings of Securities Issued by Government Corporations and Other Agencies 7 End of fiscal year or month Agency for International Development / Agriculture Department Commodity Credit Corporation Rural Electrification Administration Secretary: Farmers Home Administration programs / (In millions of dollars) Export Import Bank of the Secretary United u States / Housing and Urban Development Department Government National Other Mortgage 6/ Assn. J/ Pransportation Dept. Tennessee Saint Valley Lawrence Authority Seaway Development Corp. Veterans Administration: Direct loan program Under Defense Production Act of i90 / Other 8/ Dec., 8,634 9,66 9,4 8,34 6,964 4,6 7,040 8,64 30,6 30,48, , ,,768 0,097,989,,6,30 3,484 3,67 3,88 4,07 4,34 4,8 4,770,04,38,4 84,07,70,3,436.4,44,83.46,64,830,67 3,67 3,30,976,476,00,76 0 3,730, ,30, ,730,09 3 3,73, ,730, ,33, ,730,03 7,670,39 00,730, ,937, ,730, ,70, ,730,03 48,86,6 3, ,730,996 83,68,980, ,730, Mar., Apr., May., June, July, Aug., Sept, Oct., Nov. Dec. 97Jan. Feb., Mar. 30,6 30,86 30,9 30,6 30,049 30,79 30,688 3,393 3,38 3,40 30,863 3,69 3, ,66,33,3,6,398,076,89,,380,66,94,47, ,46, ,68, ,37,337,408,46,387,349,30,9,30,93,49,36,37,377,40 3, ,730,043 8,4,43 3, ,730,043 83,78,37 3, ,730,008 83,86,6 3, ,730,996 83,8,36 3, ,730,00 83,60,33 3, ,730,00 83,60,37 3, ,730,00 83,646,396 3, ,730,00 83,66,396 3, ,730,00 83,3,4 3, ,730, ,49 3, ,730, ,66 3, ,730,00 3 3,39 3, ,730,00 3 Source: Daily treasury statement. Note: These securities were issued to the Treasury in exchange for advances by the Treasury from public debt receipts under congressional authorization for specified government corporations and other agencies to borrow from the Treasury. Further detail may be found in the 969 Statistical Appendix to Annual Report of the Secretary of the Treasury, pages 308, and the 970 Combined Statement of Receipts, Expenditures and Balances of the United States Government, pages / And predecessor agencies. Beginning fiscal 97 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 Agency, pursuant to the act approved July 8, 96 ( U.S.C. 44), and the notes together with others issued for the same purpose are included in "Other. / Farm housing and other loan programs, Agricultural Credit Insurance Fund (formerly Farm Tenant Mortgage Insurance Fund), and Rural Housing Insurance Fund. j/ Includes securities transferred from the Reconstruction Finance Corporation. ij Consists of notes issued to borrow for: The urban renewal program (formerly slum clearance program); college housing loans; public facility loans; Low Rent Public Housing Fund; and advances for National Flood Insurance Fund. ] Consists of liabilities taken over by the Association from the Secretary in accordance with the act approved August, 94, and notes issued by the Association under authority of that act ( U.S.C. 79 (c), 70 (d), and 7 (d)) and also securities transferred from the Reconstruction Finance Corporation. 6/ Public Housing Admini stration ; Federal Housing Administration beginning January 966; Housing Assistance Administration from September 968 December 969. / Consists of notes of: The Administrator, General Services Administration, for defense materials procurement; the Secretary of Agriculture; the Secretary of Interior (Defense Minerals Exploration Administration); the ExportImport Bank of Washington through March 96; and the Secretary of the Treasury through May / Consists of notes issued by the: United States Information Agency for informational media guaranties (see footnote l); Secretary of Commerce (Maritime Administration) for the Federal Ship Mortgage Insurance Fund, fiscal years 96367; Virgin Islands Corporation from September 99 September 968; District of Columbia Commissioners for the Stadium Sinking Fund beginning June 96; Secretary of the Interior (Bureau of Mines) for development and operation of helium properties beginning May 964; and Bureau of Commercial Fisheries for Federal Ship Mortgage Insurance Fund, Fishing Vessels from January 966 May 967; and revenue bonds for Smithsonian Institution (John F. Kennedy Center Parking Facilities) beginning July 968.

33 8 PUBLIC DEBT OPERATIONS. Table PDO. Maturity Schedule of InterestBearing Marketable Public Debt Securities Other than Regular Weekly and Annual Treasury Bills Outstanding March 3, 97 (In millions of dollars) Treasury Bulletin Amount of maturities Amount of maturities and Held hf / Year and Held by / month month of final Description U.S. Govt, of final Description U.S. Govt, maturity accounts and All maturity accounts and All i/ Federal Reserve banks investors serve banks other / Federal Re other investors 97 Apr... / Note _ 4//7EA 3 _ 3 97 Feb... 3/4% Note //7A,48,704 3, Bill I 3.67 BillJ A, 6l\ 4//7 7 <,00/ 3,0 Apr... /$ Note 4//7EA 8 8 (Tax ant.' May... 6% Note //7B 6,760 4,48,30 lay... /4 Note //7A 4,6,90,364 8 Note //7E 4, ,47 Aug... 7/8J6 Note 8//7C 7,680,330,30 June Bill (Tax ant.) 6//7,,63 Oct... /% Note 0//7E A 8/4 Note 8//7F,7 34,9 4 Bond 8//7,806 6,94 9,6 8,0,3 Oct... / Note 0//7E0 7 7 Nov... 3/8 37/8 73/4 97 Feb 43/4 4 7/ Apr... May... June... Note Bond Note ll//7b //7 ll//7g 97,087, , ,8.. 8,78 8,740 9,38 / 43/4 63/4 / Note Bond Note Note Note Note Bond 976 Feb... 6/4 Note /l/76a 3,739,87 88 May... 6/ Note //76B,697 78,969 Aug... 7/ Note 8//76C 4,94,6,678 //7A // ,630,0,9 ~ /l/7c,68,40 4//7EA Feb... 8 Note //77A //7B,30,979,63,33,84,309 //7D,037 I64,873 Aug... 73/4 Note 8//77B,63 67,9 6//677,34 4,089 Aug... 4 Bond 8//7,79 8,997 7,46 3, 3,90 Sept... / Bond 9//677,9 3,86 Oct... / Note 0//7EO Dec... / Bond //677,66 7,9,, 0,0,0, Apr... / Note. 4/l/73EA Oct... 8/8 4 / Note 0//73EO,839 3, Feb Feb... 6/4 Note //78A 8,386 3,3, 4 Bond //80,9 8,777 Nov... 3/ Bond //80, ,7 May... 73/4 Note //73A,84,6 3,87., 4,496,6,934 Aug... Note 8/l /73B 3,8 Bond 8// ,7 Nov... 4/8 Bond _ //73 4, , , May....,983 4,9,84 3/4 4/4 974 Feb... 4/8 73/4 Bond Note //74 //74c 3,7 3, ,, June.. 3/4 Bond _ 6//7883,39 67,7 Bond Bond //8 //78,064, ,76 680,96 Apr... / Note 4//74EA Feb... 3/$ Bond //90 4,698,39 3,9 May... 4/4 7/4 Bond Note //74 //74D 3,80 4, Aug... /8 Note ~ 8/l/74B 0,84,60 4,74,948 3,83 99 Aug... 4/4% Bond 8//879 3,807,347,460 Oct... / Note 0//74E0 4 4 Nov... 3/4 37/8 Note Bond ll//74a //74 3,98,39,49 703,486,36 30,93 0,48 0,787 m i Feb... 4% Bond // May... 4m Bond //8994,3 38,0 99 Feb... 3% Bond //9,, Nov... 3/% Bond //98 3, ,06 Source: Daily Treasury statement and Office of Debt Analysis in the / Beginning with February 969 Treasury Bulletin, the definition of Office of the Secretary. U.S. Government accounts and all other investors is in conformity / For issue date of each security, see "Market Quotations on Treasury with the unified budget concept. Securities."

34 A p r i l PUBLIC DEBT OPERATIONS Table PDO. Offerings of Treasury Bills Issue date Maturity date Number of days to maturity / (Amount in millions of dollars) Description of new issue Amount of bids tendered amount Amount of bids accepted Cto competitive basis On noncompetitive basis / Amount maturing on issue date of new offering unmatured issues outstanding after new issues Regular weekly: (3week and 6week) 970Dec. y... Var ous 3,60.0,04.8, ,39. f 97Mar ,7.4,903.4, ,80. 3,66. \ June 3 8,39.7,398.6, , ,4.7 y / Mar. 9,840.9,90.4, , ,7.9 \ June 0 8,069.3,400.6, , ,49. y / Mar. 8 9,88.6,900.6, ,80.4 3,8. l June 7 8,343.4,400.0, , ,646.8 y f Mar. 9,98.,909.6, ,80. 3,96.7 j June 4 8,363.8,403.8, , ,748.0 y 3 J Apr. 9,646.,904.4, , ,060. \ July 8,00.4,40.0, , ,846.9 y n n m Ta«n f Apr ,0.,00.4, ,80. 4,60. { July 8 8,86.,40.7, ,6.7 y 37,636.9 y J Apr. 9 3,09.9,003.4, ,80. 4,46. ( July 8,944.7,407.9, ,60. V 37,439.6 y oi / Apr. 9,99.8,00., ,80.3 4,66.3 ( July 8,443.8,400.9, ,600.8 y 37,39.7 y Oft / Apr. 9 9,946.8,00.7, , ,863.8 ( July 9 8,343.3,400.4, ,60.4 y 37,038.7 y UqV, j / May 6 9 3,.0,003.9, ,89.7,037.9 \ Aug. 8,7.0,40.3, ,600.3 y 36,843.7 y J May 3 9 3,638.7,00.7, ,80.7,37.9 \ Aug. 8,70.6,400., ,30. y 36,640.8 y TA / May 0 9 3,06.9r,003., r,80.4,440.Or Aug. 9 8,74.8,40.3, ,98.4 y 36,444.6 y J May 7 9 3,84.8,903.6, ,900.7,44.9r Aug. 6 8,696.8 l,40.r, , , /... Var:Lous 4,063.7r l,03.9r, Or 37,647.8r f June 3 9,9.,90.8, ,903.4,44.3 Sept. 8,69.7,40., , , / Tl / June 0 9,906.,900.7, ,90.4,440.6 ( Sept. 9 8,38.3,400.8, , , / 3 f June 7 9,84.,900.7, ,900.6,440.8 \ Sept. 6 8,8.,400.7, , , / / June 4 9,98.6,899.7,644..6,909.6,430.8 ( Sept. 3 8,646.3,600.6, ,39. 37, / Tax anticination: V 970July 3... Apr. 73 4,734.8,6., ,6l.r Oct.... June 44,9.9,., ,776.3r 97Mar Apr. 3,09.0,000.8, ,777. 9Month and onevear: f 970Dec. 3 7, ,04. { 97Mar. 3 36,903.8,0., ,000. 3,09.7 Atyi f Jan. 3 76, ,04.7 ( Apr ,74.8,00.0,4.4 4., ,9. May 3... May 3 36,40.0,00., ,000. 3,49.0 June.... Feb. 8 7, , f Mar. 3 74, ,04.6 l June 30 36,774.0,0.4,6. 7?.,0.4 3,49.0 July 3 f Apr , ,04.7 July 3 36,489.0,0.4, ,0. 3,49.4 Aug 3 / May 3 73, ,0.4 < Aug. 3 36,036.4,03., ,00. 3,4.4 Qcjnt. 0 f June 30 73, ,06.0 \ Sept ,79.6,0., ,00.3 3,69.6 Oct Oct. 3 36,006.3,0.3, ,00. 3,88.4 Nov.... July 3 7, , f Aug. 3 74, ,0. \ Nov ,83.7,00., ,00. 4,07.8 Dec J Sept , ,0.7 i Dec. 3 36,9.,0., ,00. 4,6.9 97Jan Jan. 3 36,809.7,99., , ,43.3 Feb Oct. 3 7, , Feb ,94.,0., ,00. 4,44. Mar Nov , ,06. 3 f Dec. 3 7, , Mar ,77.4,00.3, ,0. 4,43.4 Footnotes at end of Table PD03. (Continued on following page)

35 30 Treasury Bulletin PUBLIC DEBT OPERATIONS Table PDO. Offerings of Treasury Bills (Continued) On total bids accepted Issue date Average price Equivalent average per hundred rate / Regular weekly: (3week and 6week) 970Dec. $ ' ' (Percent) 4,69, High On competitive bids accepted Price per hundred Equivalent rate / Price per hundred Equivalent rate / / (Percent) 4,40, Low (Percent) 4, , > , [ / \ Jan J IQ/ \ / Feb ' " / / / \ / ^ f / W / Mar f 99.4 \ f f f 99.8 k Tax anticipation: 970 July / IS/ Oct Mar i^gnth.and oneyear; 970Mar f \ Apr J / \ / May / June / r / July 3... ' / Aug ^ Sept / Oct / Nov r ! / / Dec ' i / 97Jan Feb Q/ / Mar / f ^ / Footnotes at end of Table PD

36 A p r i l 9 7.PUBLIC DEBT OPERATIONS. 3 Table PDO3. New Money Financing through Regular Weekly Treasury B ills l / (Dollar amounts in millions) Issue date 968July. July i i July is. July. August. August 8, August. August, August 9 September September., September 9. September 6. October 3 October November 6. November 3. November 0. November 8. December 4... December December December 970January... January 8... January January... January 9... February 6... March March... March 9... Description of issue Maturity date 968October 969January 968October 969January 968October ^969January J968October \969 January / 968October II969January / 968November V969 February (968November VL969 February J968November {JL969 February 968November 969February 968December 969March 968December 969March 968December 969Iferch k 968December 969March > January April January April j 970February May February May February May February May March June March June March June March June April July April July April July April July April July May August June September June September Number of days to maturity Mount of bids tendered Amount of bids accepted Average rate of bids accepted / (Percent) 3 90 $,9 $, ,98, ,637, ,996, ,6, ,476,0.7 k 9,869, ,36, ,60, ,30, ,3, ,79,03.00 lk 9,40, ,8,0,73 9,83, ,034, ,404, ,7,04.te 9,493, ,709, ,740, ,969, ,, ,6, ,843, ,030,0,30 9,338, ,830, ,0, ,866, ,994, ,94, ,779, ,93, ,6, ,6, ,733, ,39, ,867, ,, ,380, ,097, ,666, ,76, ,44, ,87, ,46, ,6, ,70, ,4, ,876, ,9, ,60, ,3, ,77, ,64, ,73, ,98, ,48, ,9, ,986, ,83, June 8 9 3,0, September 7 8,68, I } } } New money increase, or decrease () $ k March 6. Footnotes at end of table. June 9 3,838, ,383, (Continued on following page) 96

37 3 Treasury Bulletin PUBLIC DEBT OPERATIONS Table PDO3. New Money Financing through Regular Weekly Treasury Bills / (Continued) (Dollar amounts in millions) Issue date Description of issue Maturity date Number of days to maturity Amount Amount Average rate of bids of bids of bids tendered accepted accepted / (Percent) New money increase, or decrease () 970April... April 9... April 6... April 3... April May 7... May 4... May... May 8... June 4... June... June 8... June... July... July 9... July 6... July July August 6... August September... S'eDtember 0... September 7... September 4... October October 8... October... October... October November... November November... r i I»y November 7... Footnotes at end of table. 970 July 9 $,604 $, October 8,098, $ 9 July 9 9,68, October 8 8,696, j, July 6 9 3,088, October 8,447, July 3 9,768, October 8,7, j 03 July 30 9,44, October 9 8,906, August November 6 9 8,869,846,80, j August 3 9,866, November 8,97, August 0 9,966, November 9 8,606, August 7 9,84, November ,6, September 3 9,743, December 8» 06 3,809, j September 0 9 3,00, December 0 8,, September 7 9 3,064, December 7 8 0,, c September 4 9,838, December 4 8,4 90, October 9,37, December ,69, > October 8 9,38, January 7 8,70 0, i 970 October 9,96, January ,873, October 9 3,04, < 97 Januaiy. 8,48, J 970 October 9 9,66, January 8 8,46, November 9,63, < ^97 Februaiy 4 8,06, November 9,499, Februaiy 8,476, ,946,,803, August 0... /970 November \ 97 Februaiy 9 8 J 970 November August 97 February 7,660, ,88, ^970 December 3 9,380, March 4 8,07, December 0 9,78, March 8,976,40 6. ^970 December 7 9,74, March 8 8,607, December 4 9,99, March 8,, j 970 December 3 9,43, April 8,486, January April January April January April It January April February May I February May February May February May ,449,6,780 3,444 3,6,00,6,909 3,30,448, ,7,839,470 (Continued on following page),80,40,80,404,80,40,800,40,830,40,803,40,80,403, I 99 I 0 i 97 i 97 d i 94 < < > < > [ 09

38 April PUBLIC DEBT OPERATIONS Table PDO3. New Money Financing through Regular Weekly Treasury B ills / (Continued) Issue date Description of issue Maturity date (Dollar amounts in millions) Amount Amount Average rate New money of bids of bids of bids increase, or days to tendered accepted accepted / decrease () maturity (Percent) 970December 3... ' 97March 4 9 #3,7 #,903 June 3 8,30 y,399 March December ,84,90 June 0 8,069,40 December 7... December 4... December March... March June ,883,343,90,400 u 083 OJ $ < 4.883» , March 9,98, June 4 8,364, April 9,646, < July 8,00, June 4 9,99, < September 3 8,646, J Source: See Table PDO. regular weekly bills for cash on December, 970 ($,0 million). / Excludes issues of strips of additional amounts of outstanding / Equivalent average rate on bank discount basis. Footnotes to Table PDO Source: Daily Treasury statement; Bureau of the Public Debt. / The 3week bills represent additional issues of bills with an original maturity of 6weeks and the 9month bills represent additional issues of bills with an original maturity of oneyear. / For 3week, 6week, 9month, and oneyear issues, tenders for #00,000 or less from any one bidder are accepted in full at average prices of accepted competitive bids; for other issues, the corresponding amount is stipulated in each offering announcement. / Additional amounts (#300,68,000) of seven series of outstanding weekly bills issued in strip form for cash on December, 970. These bills mature at intervals of one week beginning January 7, 97 and ending February 8, 97 for each series respectively. Includes strip bills issued December, 970. $J Additional amounts ($00,6,000) of six series of outstanding weekly bills issued in strip form for cash on February 6, 97. These bills mature at intervals of one week beginning May 7, 97 and ending July, 97 for each series respectively. 6/ includes strip bills issued February 6, 97. 7/ Bank discount basis. 8/ Except $300,000 at if Except #0,000 at / Except #400,000 at / Except #900,000 at / Except #46,000 at / Except #,000,000 at U / Except #40,000 at / Except #300,000 at / Except #300,000 at / Except #0,000 at and #,00,000 at / Except #3,000,000 at / Except #30,000 at 9490 and #80,000 at 94.8b3. 0/ Except #0,000 at / Except #0,000 at / Except #,00,000 at / Except #800,000 at dj Except #90,000 at / Except #,060,000 at 9340 and #70,000 at / Except #,000,000 at 9390, #,000,000 at 93.90, and #,000,000 at ZL/ Except #,000,000 at / Except #480,000 at 900. / Except #800,000 at 9073 and #00,000 at / Except #00,000 at 97.6 / Except #0,000 at / Except #00,000 at and #400,000 at 97.. / Except #00,000 at r Revised.

39 34.PUBLIC DEBT OPERATIONS. Table PDO4. Offerings of Public Marketable Securities Other than Regular Weekly Treasury B ills Treasury Bulletin Date subscription books opened or bill tenders received Issue date Description of securities l/ Period to final maturity (years, months, days) / Amount of subscriptions tendered Cash Exchange Amount issued / Allot For In exchange ment cash Lf ratio 7//68 7/4/68 8//68 8/7/68 9/4/68 0/ 0/7/68 0/4/68 0/8/68 //68 /6/68 /3/68 /4/69 /8/69 /3/69 /0/69 //69 3//69 3/6/69 0/ 4/4/69 //69 /7/69 6/4/69 7/9/69 7//69 7/4/69 8/4/69 8/0/69 8/6/69 9/3/69 9//69 /r 7//68 7//68 4/30/68 7/3/68 _8//68 /3/68 8/3/68 > 6/30/68 9/30/68 V 0//68 0/4/68 7/3/68 0/3/68 //68 //68 8/3/68 /30/68 0/4/68 f 9/30/68 /3l/68 0/4/68 0/3/68 ^/3/69 //69 //69 /30/68 /8/69 //3/68 ^ 3/3/69 ^ 4//69 ' /3/69 4/30/69 //69 //69 /8/69 /3/69 3/3/69 6/30/69 " 7/8/69 7/8/69 J" 4/30/69 ^ 7/3/69 8//69 /3/69 8/3/69 6/30/69 9/30/69 r 0//69 < 0//69 0//69 0/ 0//69 0/8/69 0/4/69 0/3/69 0/9/69 0/8/69 //69 //69 /3/69 f 7/3/69 ^0/3/69 jlo/4/69 U.0/9/69 r8/3/69 /30/69 "9/30/69 /3/69 Footnotes at end of table..399%.46%.34%.30% /8%.4%.%.0%.08% /%.78%.446%.40% /8% 3/4%.6.67%.489% 6.483% 6.4%.940% 6.9% 6.44% 63/8% 6/4% 6.307% 6.3%.907% Bill Bill Bill Bill Note Bill Bill Bill Bill Note Bill Bill Bill Note Note Bill Bill Bill Bill Bill Bill Bill Bill Note Note Bill Bill Bill.030% Bill 6.09% 6.3% /%.. 63/8% 6/% 6.307% 6.70% 7.387% 7.34% 6.77% 7.0% 7.407% 7.33% 73/4%.43% 7.387% 7.340% 7.37% 7.30% 8% 73/4% 7/% /% 7.84% 7.04% 7.44% 7.7% 7.84% 7.97% 7.777% 7.9% 7.80% 7.6% Bill Bill Note Bill Bill Note Note Bill Bill Bill Bill Bill Bill Bill Bill Note Bill Bill Bill Bill Bill Note Note Note Note Bill Bill Bill Bill Bill Bill Bill Bill Bill Bill 3/4/69 4//69 4/30/69 7/3/69 Tax ant. j>/ Tax ant. j>/ Reopening 8//74B 6/ /3/69 Reopening 8/3/69 6/30/69 Reopening 9/30/69 0//73E0 6/3/69 Tax ant. V 7/3/69 Reopening 0/3/69 //70B 6/ //74A Reopening 8/3/69 /30/69 Reopening 6/3/69 Tax ant. 9/30/69. f e /3/69 6/3/69 /Tax ant. / #, (ReopeningT 0/3/69 Reopening /3/70 //70C //76A 6/ /30/69 Reopening /8/70 "Strip of series "Strip" of 6 series /3/69 3/3/70 4//74EA /3/70 4/30/70 8//70D //76B /8/70 /3/70 3/3/70 6/30/70 / 4/ Reopening Reopening 6/ Reopening Reopening //69 Tax ant. j>/ 3/3/70 Tax ant. j>/ 4/30/70 Reopening 7/3/70 //7D 6/ "Strip" of series /3/70 8/3/70 6/30/70 9/30/70 //7E //73A 8//76C 0//74E0 4//70 Tax ant. j?/ 6//70 Tax ant. j>/ 7/3/70 0/3/70 4//70 6//70 8/3/70 /30/70 9/30/70 /3/70 7/ Reopening Reopening 6/ Reopening Reopening Tax ant. j>/ Reopening Tax ant. j>/ Reopening Reopening 6y y ly 6y ly 7y y ly 7y ly 6m 3m 6d 8d 73d 36d 70d 36d 73d 36d 4d 73d 36d 7d 36d 03d 73d 36d 4d 73d 36d 7d 36d 9.4d (Average).d (Average) 3m 6m 7d 36d 76d 36d 7d 36d 74d 36d 7d 48d 73d 36d 4.Od (Average) 7d 36d ly 7im 3y 7im 6y 0jm y 73d 36d 90d 36d 73d 36d 47d 08d 73d 36d 73d 36d (Continued on following page) 4,0 4,06,84,94 8,368 7/,99,9,343,04 6,9,38,990,337,973 4,379,4,79,08,30,840,34,464,96 3,86,70,760,48,878,438,84,77,47 3,390 3,386,60,04 3,7,3,98,8,90 3,80 4,6,3,9,494,94,,49,003,64 (in millions of dollars),0, ,793,39 8,764 3,739 34,39,697,94 4,76,60, ,00,44 0,000 0,00 3,00 0,00 0,00, ,79 00,000 00,000,00,803 0,00 00,00 00,000 0,0,763,7 00,0, 00,0 00, ,004 00, ,04 0,00 00,00 4,870 8/ 30 / 7,793,39 / 00 8,764 3,739 V 4\ / 00 34,39,697 A V / 00,94 6/ 00 b,76[,60 >8/ l,683j 4 00

40 A p r i l 9 7 PUBLIC DEBT OPERATIONS Table PDO4. Offerings of Public Marketable Securities Other than Regular Weekly Treasury Bills (Continued) 3 Allot ment ratio yauc Hfl+a ouuowij.p" oii hcr>t»i r\_ tion books opened or b ill tenders received Issue date /7/70 f 0/3/69 /3/70 //70 f /L/70 < //70 ^ //70 /4/70 f /30/69 /8/70.4%.33% Bill Bill 8/4# 8/8# 8# Description of securities / Note Note Note 0/3/70 /3/7 8//7F 8//73B /L/77A 6.99% 6.93% Bill Bill /30/70 /8/7 //70 0/4/ % Bill 4//70 Reopening Tax ant. / Amount of sub Amount issued / Period to final mfl'hiitn+.v scriptions tendered (years, months, For In exchange days) / Cash Exchange cash y Reopening 7$ 36d iy 3y 6m 6m Reopening 73d 36d,344,698 (In millions of dollars) 0,003,7,839,86,8,884,7^,839,86 J 00,00 0d 3,404,73 : 00 3/9/70 3/6/70 6.% Bill 9//70 Tax ant. / l80d,67,78 3/4/70 f /3/69 6.0% t 3/3/70 6.3# Bill /3/70 Reopening 7d,64 00 Bill 3/3/7 36d,904,0 0/ 4//70 /# Note 4//7EA y 8 8 4/3/70 f /3/70 4/30/ # 6.84# Bill Bill /3/7 4/30/7 Reopening 76d 36d,00,7 00,00 /4/70 f //70 //70 73/4# 8# Note Note //73A //77A Reopening 6/ Reopening 3y 4,68lp 6y 9m 3,307p 4,68lp> 3,307pJ [so / 00 //70 //70 73/4# Note l l / l /7G iy 6m 0,743 / 3,679 7,064 8/ / /6/70 f /8/70 /3/ # 7.77# Bill Bill /8/7 /3/7 Reopening 7d 36d,93,40 00,00 6/3/70 f 3/3/70 t 6/30/ # 7.079# Bill Bill 3/3/7 6/30/7 Reopening 74d 36d,43,774 0,0 _ 7//70 7/8/70 6.4# Bill 3//7 Tax ant. / 7d 4,74,6 7/6/70 7/3/ # Bill 4//7 Tax ant. / 73d 4,7,6 7/3/70 f 4/30/70 ^ 7/3/70 8//70 f 8//70 t 8// # Bill 6.380# Bill 73/4# 73/4# Note Note 4/30/7 7/3/7 //74C 8//77B Reopening 73d 36d y 3y iy 6m,97,489. 3,4p,64p 00,0 3,Kip'! [/ 00,64pj 8//70 8/7/70 7/# Note //7C </ ly 6m I8,8l9p / 3,l84p 90p / 4/ f /3/70 6.0# 8//70 ^ 8/3/ # Bill /3/7 Reopening 73d, 0 Bill 8/3/7 36d,036,04 9/4/70 f 6/30/70 9/30/ # 6.6# Bill Bill 6/30/7 9/30/7 Reopening 73d 36d,70,7. 0/ 0//70 /# Note 0//7E0 y 9 9 0//70 0//70.970# Bill 6//7 Tax ant. / 44d,93, 0/3/70 f //70 \ //70 0/7/70 f 7/3/70 ^0/3/70 7/4# 7/# Note Note 6.3# 6.07# Bill Bill //74D 8//76C 7/3/7 0/3/7 Reopening 3y y Reopening 7d 36d 6m 9m 4,07p,p,,006 0,0 0,0 4,07pl [/ 00,pJ //70 /6/70 63/4# Note //7D 6 / iy 6m,4p,038p 6/ /4/70 f 8/3/70 ^/30/70.084#.00# Bill Bill 8/3/7 /30/7 // # Bill "Strip" of series /3/70 f 9/30/70 V / 3/70 //7 r //7 f //7 /6/7 f 0/3/70 /3/7 //7 /3/7 f /30/70 J /8/7 Footnotes at end of Table # Bill 4.886# Bill 7/8# 6/4# 4.69# 4.49# 3.8# 3.69# 3.67# Note Note Bill Bill Bill Bill Bill 9/30/7 /3/7 8//7C //78A 0/3/7 /3/7 "Strip of 6 series /30/7 /9/7 Reopening 74d 36d,33,84 0,00 7 / (Average) 7d 3,60,0 Reopening Reopening Reopening / 4y 6m 73d 36d 7d 36d 07.d (Average) 74d 366d (Continued on following pag6),404,9,8,80 4,06,44,94 7,680p 8,386p 0,0 00,99,04 0 ;,0 7,680p^ 8,386pj^8/ 00

41 36 Treasury Bulletin.PUBLIC DEBT OPERATIONS. Table PDO4. Offerings of Public Marketable Securities Other than Regular Weekly Treasury Bills (Continued) Date subscription books opened or bill tenders received Issue date Description of securities / Period to final maturity (years, months, days) / Amount of subscriptions tendered Cash Exchange Amount issued j / For cash In exchange k/ Allotment ratio 3/4/7 3//7 3/3/7 7/3/70 f /3/70 ^ 3/3/ Bill 4// Bill Bill 3.8 Bill /3/7 3/3/7 "Strip of series Reopening Tax ant. Reopening 3d 7d 366d / (Average) 8d,09,49,77,080 (In millions of dollars),00 00,00,06 Source: Bureau of the Public Debt. / For b ill issues, always sold at auction the rate shown is the equivalent average rate (bank discount basis) on accepted bids. Other securities issued at par except those bearing footnote 6. For details of bill offerings, see Table PDO. / From date of additional issue in case of a reopening. / In reopenings, the amount issued is in addition to the amount of original offering. k/ For securities exchanged for the new issues, see Table PD07. / Tax anticipation b ill, acceptable at face value in payment of income taxes due on the th of the month in which the bills mature. 6 / Price at which issued appears in Table PD0. / Payment for subscriptions allotted could be made in cash or in Treasuiy bonds or notes, maturing on the issue date of the new security. 8 / Consists of allotments paid for with Treasuiy bonds or notes maturing on issue date of new security. / As provided in the offering circular subscriptions were allotted in full () for States, political subdivisions or instrumentalities thereof, public pension and retirement and other public funds, international organizations in which the United States holds membership and foreign central banks and foreign states where the subscriber certified that it owned securities maturing August, 968, these totaled $3 million, () for Federal Reserve baiiks and Government accounts, these totaled $4,8 million, and (3) those for $0,000 or less. All other subscriptions were allotted 8 percent but in no case less than $0,000. 0/ Exchange offering available to owners of nonmarketable 3/4 Treasuiy bonds, Investment Series B9780, dated April, 9. For further information on the original offering see Treasury Bulletin for April 9, page A l. Amounts shown are as of March 3, 97. / Includes $,336 million of the /8 notes and $,043 million of the 3/4 notes allotted to Federal Reserve banks and Government accounts. / Includes $6,0 million of the 63/8 notes and $,833 million of the 6/4 notes allotted to Federal Reserve banks and Government accounts. / Sale of a "strip" of Treasuiy bills consisting of an additional $00 million of series maturing on April 30, May 3, June 30, July 3, and August 3, / Sale of a "strip" of Treasuiy bills consisting of an additional $300 million of series maturing on May 8, May, May, May 9, June, and June, 969. / Includes $6 million of the 63/8%notes and $473 million of the 6/ notes allotted to Federal Reserve banks and Government accounts. 6/ Includes $ million allotted to Federal Reserve banks and Government accounts. 7/ Sale of a "strip" of Treasuiy bills consisting of an additional $303 million of series maturing on September 8 and, and October, 9, 6, 3, and 30, / Includes $6 million of the 8 notes, $ million of the 73/4 notes, and $64 million of the 7/ notes, allotted to Federal Reserve banks and Government accounts 9/ Includes $9 million of the 8/4 notes, $88 million of the 8/8 notes, and $48 million of the 8 notes, allotted.to Federal Reserve banks and Government accounts. 0/ Includes $,4 million of the 73/4 notes and $, million of the 8 notes allotted to Federal Reserve banks and Government accounts. / All subscriptions were allotted in fu ll. Subscriptions for Government accounts and Federal Reserve banks totaled $7,00 million. / Includes $ million of the //74C notes and $479 million of the 8//77B notes allotted to Federal Reserve banks and Government accounts. 3/ This is amount of bonds and notes maturing August, 970 exchanged by Federal Reserve banks and Government accounts. 4/ Subscriptions from the public for $00,000 or less were allotted in full and those above that amount were allotted 9/ but not less than $00,000. / Includes $84 million of the 7/4 notes and $8 million of the 7/ notes allotted to Federal Reserve banks and Government accounts. 6/ Sold at auction through competitive and noncompetitive bidding. Prices accepted ranged from 0093 (yield 6.09) down to (yield 6.6). / Sale of a "strip" of Treasuiy bills consisting of an additional $30 million of series maturing on Januaiy 7, 4,, and 8, and Februaiy 4,, and 8, 97. 8/ Includes $,39 million of the 7/8 notes and $,7 million of the 6/+% notes allotted to Federal Reserve banks and Government accounts. 9/ Sale of a "strip" of Treasury bills consisting of an additional $0 million of series maturing on May 7, June 3, 0, 7, and 4, and July, / Sale of a "strip" of Treasuiy bills consisting of an additional $0 million of weekly series maturing from July 8 through September 6, 97. p Preliminary.

42 April PUBLIC DEBT OPERATIONS. Table PDO. Unmatured Marketable Securities Issued at a Premium or Discount Other than Advance Refunding Operations Description of securities Date of financing nmt issued i millions) Average price per hundred Effective interest rate Eligible securities exchanged 97 /4$ Note //7A 8//66 $7 $00.0 '.3% 43/4% Cert. //66A % Note //66E /8% Bond //66 37/8% Bond 73/4% Note 97 43/4% 7/% 63/4% /4% Note Note 43/4% Note Note Note //7 / //7G //7A //7C //7B //7D //73A / j" A /6 //6 //70 //67 8/7/70 //67 /6/70 //70 ( I { {., % Cert. _ //6A % Note //6E /4% Bond 6//6, Series F & G savings bands / 4 3,679p /, 909p /8% Note //70B 6,6p /8% Note //70C 0,743p, / /8% Note //67B ,84 4% Note //67C,006 0p /8% Note 8//70D I80p % Band 8//70 3,l84p / 3,374p /% Bond _ /4% Cert. 6//67 8//67A /4% Note 8//67A /8% Note 8//67E,804,037p / 3,497p /8% Note _ //70B,8P /8% Note //70C 4,68lp 974 4/4% Bond //74 // /8% Note. //6A, /8% Note //6C,06 /8% Note 37/8% Bond 8//74B //74 / 8//68 //6 (, / 4, /4% Note 8//68C /4% Bond 8//68 0, /% Bond //6 97 3/4% Note 976 6/4% Note //7A //76A //68 //69 { C /4% Note _ 8//68C, /4% Bond 8// /4% Note //68D /8% Bond //68,977 3, /8% Note _ //69A % Band //69 3,739 Footnotes at end of table. (Continued on following page)

43 38.PUBLIC DEBT OPERATIONS Table PDO. Unmatured Marketable Securities Issued at a Premium or Discount Other than Advance Refunding Operations (Continued) Treasury Bulletin Description of securities Date of financing Amount issued (in millions) Average price per hundred Effective interest rate Eligible securities exchanged /% Note 8//76C f 0//69 r $,09 V. 7,683 73/4% Note 8//77B 8//70 f 7p L i.» p,64p 980 r / 3/9. m 4% Bond //80 / n.//6 98 $ % /% Note 0/l/69E0 4% Bond 0//69 /% Bond //6469 / ul//70,» lp S % Note I I // 7OA { 3 4 w /4% Bond //8 6/3/8, / 987 4/4% Bond 8//879 / 8//6 988 f L 360 ; % Bond //8893 /7/ / 989 4/8% Bond //8994 4/8/ / /8% Note 8//70D 4% Bond 8//70 / Series F & G savings bonds / 4% Note 8//6B 3/4% Note 8 /l /6G / / Issued for cash. / Additional issue. / To adjust for market value of bonds, subscribers were paid $.0 per $,000 face value exchanged. Less than $00,000. p Preliminary.

44 April PUBLIC DEBT OPERATIONS. Date of financing Table PDO6 Allotments by Investor Classes on Subscriptions for Public Marketable Securities Issues Description of securities Amount issued For cash In exchange for other securities Part A. Other than Treasury Bills / U.S. Government accounts and Federal Reserve Banks / (In millions of dollars) Commercial banks y Individuals y Insurance companies Allotments by investor classes Mutual savings banks Corporations Private pension and retirement fund State and local governments 6 / Pension and retire ment funds Other funds Dealers and brokers 8//68 /8 Note 8//74B 8/,44 4,870 4,8, A Mo // rt //8% Note _ //70B _ 7,793,336, /3/68 [3/% Note //74A /,39, //69 U3/S% Note //70C _ 8,764 6,88, \_6l/4% Note //76A 3,739, f(>3/8% Note _ 8//70D _,39 64, //69 \6l/% Note //76B, , //69 73/4 Note /l /7D,94, u Note _ /L/7E _ 4,76 64, /L/69 <73/4 Note //73A, V l/% Note 8//76C, (8/4% Note _ 8//7F _,7p 9, //70 <8/8% Note _ 8//73B _ l,839p \8% Note //77A l,86p /4% Note _ /L/7G 3,679p 7,064p 7,00, //70 <73/4% Note //73A / 4,68lp,4, \8% Note //77A / 3,307p, c /nn /V3/4% Note //74C _ 3,4p 0, O/IP/ (\J \73/4% Note 8//77B,6p /7/70 7/% Note //7C 3,7p 90p 90, Ac /rjc\ /Vl/4% Note _ //74D Q/ _ 4,p 838, ix/ly/ /U \_7l/% Note 8AV76C /,p 8, /6/70 63/4% Note //7D,038p, / i ^ An A 7/8% Note _ 8//7C _ 7,680p,39 3, <y±p/ /I \6l/4% Note ~ /L/78A 8,386p,7 3, All other / Source: Based on subscription and allotment reports. For detail of offerings see Table PDO4. / Excludes /$ Treasury notes issued in exchange to holders of nonmarketable 3/4# Treasury bonds, Investment Series B9780. / Includes trust funds and accounts that comprise Government accounts under the unified budget concept. / Includes trust companies and stock savings banks. 4/ Includes partnerships and personal trust accounts. / Exclusive of banks and insurance companies. 6/ Consists of trust, sinking, and investment funds of State and local governments and their agencies. / Includes savings and loan associations, nonprofit institutions, and investments of foreign balances and international accounts in this country. Also included are certain Government deposit accounts and Governmentsponsored agencies. 8/ Offerings subject to allotment, were made for the purpose of paying off maturing securities in cash. Holders of the maturing securities were not offered preemptive rights to exchange their holdings but were permitted to present them in payment of exchange, in whole or in part, for the new issues. / Reopening of earlier issue. Less than $00,000. p Preliminary.

45 40 Treasuiy Bulletin PTTBT.Tf: DEBT OPERATIONS Table PDO6. Allotments by Investor Classes on Subscriptions for Public Marketable Securities Part B. Treasury B ills Other than Regular Weekly Series amount issued (In millions of dollars) Allotments by investor classes Date of financing Date of maturity Average rate Oneyear series 9month series / Tax anticipation series (Percent). / 4/30/ /3/68 4 { 7/3/69.30, / 3/68 9/ 30/68 Other series U.S. Government accounts and Federal Reserve Banks / Commercial banks Corporations / Dealers and brokers f /3/ ^ 8/3/69., f 6/30/ ^ 9/30/69.08, /4/68 6/3/ ,00, All other jj 0/3/68 r 7/3/ ^0/3/69.40, /OA /Z.d r 8/3/ I I /3O/OO ^/30/69.67, / /68 6/3/69.489,00 i /,99 6 /3/68 f 9/30/ ^/3/ /0/69 6/3/69.940,79 i /,7 /3/69 /8/69 f l 0/3/ ^ /3/ , f /30/ /8/70 6.3, /3/69 6/.907, /3/69 4/30/69 /3/69 6/30/69 ri / 3/ ^ 3/3/70 6.3, r / 3/ # 3 9 ^ 4/ 30/70.930, r / 8/ ^ /3/ , r 3/ 3/ t 6/ 30/ ', Ml / H// /\ ri / / ,763 _, /8/69 3/3/70 7.0,7,7 3 7 r»/on /Z r> 4/30/ / 3I/09 w7/3/ , A/0 //A f /3/ /3/69 ^ 8/3/ , rt /ort /in r 6/30/ /30/69 ^ 9/30/ , /4/69 4// ,007, /9/69 6// ,004,97 33 A /0 //a f 7/3/ / 3/09 ^0/3/70 7.7, /6/69 /30/69 r 4/ / ,007 i / _,00 ^ 6/ / ,04 V,497 7 r 8/ 3/ Ll ^/ 30/70 7.9, ? An /AQ r 9/ 30/ J<C/ ;x/07 ^/3/70 7.6, Footnotes at end of table. (Continued on following page)

46 A p r i l 9 7, PUBLIC DEBT OPERATIONS. 4 Table PDOb. Allotments by Investor Classes on Subscriptions for Public Marketable Securities Part B. Treasury B ills Other than Regular Weekly Series (Continued) (In millions of dollars) amount issued Allotments by investor classes Date of financing Date of maturity Average rate (Percent) Oneyear series 9month series / Tax anticipation series Other series U.S. Government accounts and Federal Reserve Banks / Commercial banks Corporations / Dealers and brokers All other y /3/70 f 0/3/70 ^ /3/ , /8/70 f /30/70 ^ /8/ , /3/70 4// ,73 i/,74 8 3/6/70 9// ,78, /3/70 ( /3/70 ^ 3/3/ , /30/70 f /3/7 ^ 4/30/ , # /3/70 f /8/7 V /3/ , /30/70 f 3/3/7 ^ 6/30/ , /8/70 3//7 6.4,7, /3/70 4//7 6.04,6,6 7/3/70 f 4/30/7 ^ 7/3/ , /3/70 f /3/7 ^ 8/3/ , /30/70 f 6/30/7 ^ 9/30/ , //70 6//7.970,,0 0/3/70 f 7/3/7 ^0/3/ , /30/70 f 8/3/7 ^/30/ , /3/70 f 9/30/7 \ /3/ , /3/7 / 0/3/7 ^ /3/ , /8/7 //30/7 /9/ , /3/7 f /3/7 ^ 3/3/ , ij Source: Based on subscription and allotment reports. For detail of offerings see Table PD04. / Reopening of oneyear series. / Includes trust funds and accounts that comprise Government accounts under the unified budget concept. %/ Exclusive of banks and insurance companies. Included with all other investors are certain Government deposit accounts and Governmentsponsored agencies, formerly included with Government investment accounts. Reopening of earlier issue. 6/ Offering consists of a "strip" of additional $00 million each of bills maturing April 30, May 3, June 30, July 3, and August 3, 969. Less than $00,000.

47 4 PUBLIC DEBT OPERATIONS. Table PDO7. Disposition of Public Marketable Securities Other than Regular Weekly Treasury Bills Treasury Bulletin Date of refunding or retirement 7/3/68 8//68 8/3/68 9/30/68 0//68 0/3/68 //68 /30/68 //68 /3/68 /3/69 //69 /8/69 3/4/69 3/3/69 4//69 4//69 4/30/69 //69 /3/69 6//69 6/3/69 6/30/69 7/3/69 8//69.. I : f Is {.9, P <.4 V.9 /.7 <.i v.9< r.3 {.4 l.9i 6% Called or maturing securities l/ Description Issue date :Bill 7/3/68 7/3/67 ;Bill 7/3/68 7/3/67 ;Note _ 8//68C //67 >Bond 8//68 4/8/6 Bill 8/3/68 8/3/67 Bill 8/3/68 8/3/67 ;Bill _ 9/30/68 9/30/67 Bill 9/30/68 9/30/67 Note 0//68E0 0//63 Bill _ 0/3/68 0/3/67 Bill 0/3/68 0/3/67 Note //68D //67 Bond //68 9//63 Bond //68 //4 Bill /30/68 /30/67 Bill /30/68 /30/67 Bond //68 //4 Bill _ /3/68 /3/67 Bill /3/68 /3/67 Bill _ /3/69 /3/68 Bill /3/69 /3/68 Note //69A //67 Bond //69 8//6 Bill /8/69 /9/68 Bill /8/69 /9/68 Bill 3/4/69 7//68 Bill 3/3/69 3/3/68 Bill 3/3/69 3/3/68 Note 4/i/69EA 4//64 Bill 4//69 7//68 Bill _ 4/30/69 4/30/68 Bill _ 4/30/69 4/30/68 Bill 4/30/69 4/30/68 Note //69B //68 Bond 6//69 4//43 Bill /3/69 /3/68 Bill /3/69 /3/68 Bill /3/69 /3/68 Bond 6//69 4//43 Bill 6/3/69 0/4/68 Bill 6/3/69 0/4/68 Bill 6/3/69 0/4/68 Bill _ 6/30/69 6/30/68 Bill 6/30/69 6/30/68 Bill 6/30/69 6/30/68 Bill 7/3/69 7/3/68 Bill _ 7/3/69 7/3/68 Bill 7/3/69 7/3/68 Note 8//69C //68 Amount outstanding,00 0,936,640 8,76,000 00,000 00, ,984,8,787,99, ,000 00, ,88 Disposition offers by Treasury Cash retirement Exchange security offered (in millions of dollars ) i,ooilv, 0/^ I, /, / 0,738 3,78 4,466,00, Jk,0,0 6/,000,000! 00 00! k 6 6,0,0 6/, ,00% 00 W 00T 4,77,4, ,00" 0 0a ,00,00,79, ,000 00, ,00",00,79,00' 0 0a,00 i,oor a 3,366,936,640,00V 00Ji,ooo\ / 0C 8 8,76V 8,984,8,787,99 0,738 3,78 4,466 4,77,4 6,88 3,366 Results of exchange offers Exchanged 4, ,870 6,663,68^ V 64 6 \ L W 0, 6,737 3,037^,06 70,0,703, I 949,06,94 Turned in for cash /,494, 3,706j>/ ,000, Description of new securities offered (See also Table PDO4) //8% Note 8//74B /8% Note 3/4% Note /8% Note 3/4% Note /8% Note 3/4% Note 7,793 of /8% Note,39 of 3/4% Note 63/8% Note 6/4% Note 63/8% Note 6/4% Note 8,764 of 63/8% Note 3,739 of 6/4% Note 63/8% Note 6/% Note 63/8% Note 6/% Note,39 of 63/8% Note,697 of 6/% Note B970 A974 B970 A974 B970 A974 C970 A976 C970 A976 D^970 B976 D970 B /4% Note D97 Footnotes at end of table. (Continued on following page)

48 A p r i l 9 7 PUBLIC DEBT OPERATIONS Table PDO7. Disposition of Public Marketable Securities Other than Regular Weekly Treasury Bills (Continued) 43 Date Of refunding or retirement 8/3/69 9/30/69 0//69 0/3/69 /30/69 //69 //69 Called or maturing securities / Description Issue date Amount outstanding.% Bill 8/3/69 8/3/68, % Bill 8/3/69 8/3/ % Bill 8/3/69 8/3/ % Bill 9/30/69 9/30/68, % Bill 9/30/69 9/30/68 00 /% Note 0//69E0 0//64 9 { 4% Bond /% Bond..40% ^6.9%.67% ^6.307% /% 6.77% Bill Bill Bill Bill Bond Bill 0//69 //69 0/3/69 0/3/69 /30/69 /30/69 //69 //69 0//7 9//43 0/3/68 0/3/68 /30/68 /30/68 9//43 7/8/69 6,40,484,00 00, ,763 Disposition offers "by Treasury Cash retirement Exchange security offered (In millions of dollars),000^ 0 h / 00 J l, 0 0 l V, 00 M 7,00 / 00J',00 00 j ' 673,763 6/ 9 6,40,484 8,883 Results of exchange offers Exchanged { I r 3,64^ { 869 > ll,09j { 96^ 79 J 7lJ 7,00 Turned in for cash / 9,097,90 Description of new securities offered (See also Table PD04) 8% Note E97 73/4% Note A973 L7/% Note C976 % Note E97 73/4% Note A973 7/% Note C976 8% Note E97 73/4% Note A973 7/% Note C976 k4,76 of 8% Note,60 of 73/4% Note,683 of 7/% Note /3/69 6.4% 6.09% Bill Bill /3/69 /3/69 /3/68 /3/ " U / 0 /3/70 //70 /8/70 3//70 3/3/70 3/3/70 4//70 4//70 4/30/70 //70 /3/70 6//70 6/30/70 7/3/70 8//70 8/3/70 '6.44%.976% { 4% /% Bond. 6.3% 6.307% /% 7.0% 6.3% 7.387% /% 7.84% 7.84%.49%.930% 7.407% { 0 Bill Bill Bond Bill Bill Bill Note Bill Bill Bill Bill Bill f /8% Note ^63/8% Note. 6.70% 7.387% "7.04% 7.976% { 7.34% 7.37% 7.33% 7.44% r 63/8% Bill Bill Bill Bill Bill Bill Bill Bill Note Bond L4%... ( Bill Bill 7.340% Bill 7.777% Bill /3/70 /3/70 3//70 /8/70 /8/70 3//70 3/3/70 3/3/70 3/3/70 4//70EA 4//70 4//70 4//70 4/30/70 4/30/70 //70 //70 /3/70 /3/70 6//70 6//70 6/30/70 6/30/70 7/3/70 7/3/70 8//70 8//70 8/3/70 8/3/70 /3/69 /3/69 //44 /8/69 /8/69 //44 7/8/69 3/3/69 3/3/69 4//6 0/4/69 0/4/69 0/4/69 4/30/69 4/30/69 //68 //69 /3/69 /3/69 0/9/69 0/9/69 6/30/69 6/30/69 7/3/69 7/3/69 //69 6/0/63 8/3/69 8/3/69, Bond //70 //6 4,38,80 6,66, ,7, ,73, ,793 8,764 6,7, ,004,04,0 00,0 00,39 4,9 6,48,0 0,000^ 3 / 00,000^ / 00j 30,7 6/,00] 3/ 0J 88,00'A,007)/, 73J,00^ 00 /,000 W 00 3,004),04 j 6/,0) 3, 00 ^,0. 3, 00 ^,0 0J / 4,38,80 6,66 7,793 8,764 6,7,39 4,9 6,48 {,8T,0},4/ 67: 89 7!,9 7,988p r,9^ 7^ l,80d,rj,40p l,66p 6,943p 8,69p 7/ 86p 767p l,03p 8/ 8/4% Note F97 8/8% Note B973 8% Note A977 8/4% Note F97 8/8% Note B973 8% Note A977,7 of 8/4% Note,839 of 8/8% Note,86 of 8% Note 73/4% Note A973 8% Note A977 73/4% Note A973 8% Note A977 4,68lp of 73/4% Note 3,307p of 8% Note 73/4% Note C974 73/4% Note B977 73/4% Note C974 73/4% Note B977 3,4p of Note C974,64p of Note B977 Footnotes at end of table. (Continued on following page)

49 44 PUBLIC DEBT OPERATIONS Table PDO7. Disposition of Public Marketable Securities Other than Regular Weekly Treasury Bills (Continued) Treasury Bulletin Date of Called or maturing securities l/ Disposition offers Results of exrefunding by Treasury change offers or retirement Description out Ex Amount Issue Cash Exchange Turned date retirement offered cash / security in for standing changed (In millions of dollars) 9/3/ # Bill 9/3/70 3/6/70,78,78 6/ 9/30/70 /V.30# Bill JJ7.80# Bill 9/30/70 9/30/70 9/30/69 9/30/69,00 00,00) 3 / OO// Description of new securities offered (See also Table PDO4) 0//70 /# Not.c 0//70 E0 0// /3/70 fl.7% Bill V7.74# Bill 0/3/70 0/3/70 0/3/69 0/3/69,003 0,003) 3, 0f^/ //70 # Note ll//70a //66 7,67 7,67 7,08p 67p /30/70 /3/70 /3/7 <7.9# Bill J6.99# Bill fv.6# Bill ^6.0# Bill f 7.33# Bill \ 6.843# Bill /30/70 /30/70 /3/70 /3/70 /3/7 /3/7 /30/69 /30/69 /3/69 /3/69 /3/70 /3/70,00 00,00 00,003 00,0 0 / 00J7,00) 3/ 00J,003) 3 / 00J 3/8# Note //7C 8/30/67,09,09 73/4# Note //7D 8//69,94,94 /# Bond 3//7 //44,9,9 8/8# Note //7B //66,734,734 73/4# Note //7G //70 0,743 0,743 //7 < 37/8# Bond //7 //6,760,760 /8/7 43/4# Note //7A //67,006,006 7/# Note //7C 8/7/70 3,37 3,37 4# Bond //7 //6,344,344 ( l, 0 & v \ ^l,094pj f l,0p'\ V!>3pJ f 34pl ^ 634pJ f 333pl V 433PJ f,43p\ \,479pi v J f 89p { 78lpJ ( 97?^ \ 607pj f 390?^ ^ 303pj ( 634p) V 79pJ... 9,64 9,64 l6,066p 97p L. r 6.93# Bin ^ 7.33# Bill /8/7 /8/7 /8/70 /8/70,00 00,00V, 00)^ f$4,07p million 7 l / H Note D97^ \$,p million 7 /$ Note C p f 7/8% Note C97 ^6/4# Note A978 77p 3//7 /# Bond 3//7 //44 7 lp 7 lp 3//7 6.4# Bill 3//7 7/8/70,7,7 4/ 3/3/7 ( 6.3# Bill 3/3/7 3/3/70,0!, il)o/ ^ 7.068# Bill 3/3/7 3/3/70 0 0K _ 4//7 /# Note 4//7EA 4// Footnotes at end of Table PDO8. f 7/8# Note C97 t 6/4# Note A978 f 7/8# Note C97 ^6/4# Note A978 f 7/8# Note C97 6/4# Note A978 f 7/8# Note C97 ^6/4# Note A978 f 7/8# Note C97 t 6/4# Note A978 f 7/8# Note C97 ^ 6/4# Note A978 f 7/8# Note C97 t 6/4# Note A978 f 7/8# Note C97 {6/4# Note A978 f 7,680p of 7/8# Note \^8,386p of 6/4# Note

50 A p r i l PUBLIC DEBT OPERATIONS. Month of activity 968July. Aug. Sept. Uotes Securities Table PDO8. Foreign Series Securities (Nonmarketable) Issued to Official Institutions of Foreign Countries t Certificates of indebtedness Certificates of indebtedness / Certificates of indebtedness ( Issue date / 3 / 6 8 7//68 7//68 V 6/68 4/30/68 /9/68 6//68 6/6/68 6/7/68 6/8/68 6/ 9/68 6/ 0/68 6/4/68 6/ 7/68 7 / / / / 6 8 7/9/68 7/0/68 7/ 6/68 7/8/68 7/3/68 7/ 6/68 7/9/68 7/ 9/68 7/30/68 7/30/68 7/3/68 ^ 7/3/68 ' /3/68 7//68 7/ 6/68 7/8/68 7/3/68 7/ 6/68 7/9/68 7/9/68 7/30/68 7/30/68 7/3/68 7/3/68 8/ /68 8//68 8//68 8/6/68 8/8/68 8/ 9/68 8/ 9/68 8/ 3/68 8//68 8/ 6/68 8/ 6/68 8/9/68 8/0/68 8/ 0/68 8/ 6/68 8/ 6/68 8/ 8/68 8/ 30/68 8/ 30/68 f 6/4/68 8/ 6/68 8/0/68 8/6/68 8/8/68 8/30/68 8/30/68 9/3/68 9//68 9//68 9/6/68 9/0/68 9/3/68 9/3/68 9/6/68 9/7/68 9/9/68 9/0/68 9/0/68 9/3/68 9/4/68 9//68 9//68 9//68 9/6/68 9/6/68 9/6/68 (Payable in U.S. Dollars) Maturity date 3/3/70 //73 //73 7/6/68 7/30/68 8/9/68 9//68 9/6/68 9/^68 9/9/68 8/0/68 9/4/68 8/0/68 0/ /68 8/0/68 8/0/68 9//68 8/0/68 8/0/68 8/0/68 8/0/68 8/0/68 9//68 8/0/68 9//68 8/0/68 9/6/68 3/3/70 0//68 8/0/68 8/0/68 8/0/68 8/0/68 8/0/68 8/0^68 9//68 8/0/68 9/6/68 9/ 6/68 9//68 9//68 9//68 9/6/68 9//68 9/6/68 9//68 9/6/68 9//68 9/6/68 9//68 9//68 9/6/68 9//68 9/ 6/68 9/6/68 9//68 0/ 30/68 9/4/68 9/6/68 9/6/68 9/6/68 9/6/68 9//68 0/ 30/68 / 3/68 9/6/68 //68 //68 /0/68 9/6/68 /0/68 0/8/68 /7/68 /7/68 0/8/68 / 7/68 0/8/68 0/8/68 0/8/68 /0/68 / 7/68 0//68 0/8/68 /0/68 (Continued on following page) Interest rate (Percent) o Amount Retired (In millions of dollars) outstanding end of month,8,337

51 46 PUBLIC DEBT OPERATIONS. Table PDO8. Foreign Series Securities (Nonmarketable) Issued to Official Institutions of Foreign Countries (Continued) Treasury Bulletin (Payable in U.S. Dollars) Month of activity Securities Issue date Maturity date Interest rate Issued Amo lint Retired outstanding end of month 968Oct. Nov. Notes Certificates of indebtedness Notes Certificates of indebtedness Notes Bonds f (Percent) (Inlmillions of dollars) 9/7/68 0/ / _ 9/30/68 0/ / /9 /68 // /9/68 3/9/ / 0/68 // /6/68 /30/ /7/68 3/7/ / 6/68 0/ 8/ /9/68 /7/ / 0/68 0/ 8/ / 0/68 /7/68. 9/3/68 0/ 8/ /4/68 0/ 8/ //68 0/ 8/ //68 / 0/68., 9/6/68 0/ 8/ //68 9/ 6/68 /7/68 0/ / /6/68 / 0/68. 9/7/68 0/ / /30/68 0/ / / /68 /6/ / /68 /6/68. 0/ 7/68 /6/ / 8/68 /6/ / 8/68 /7/ >,70 0/ 9/68 /6/68. 0/ 0/68 /6/68. 0/ /68 / 0/ / /68 /7/ /4/68 / 0/ / /68 /6/ /8/68 /6/ / /68 /6/ / 3/68 / 6/68. 0/ /68 / 7/ / 8/68 / 6/68. 0/ 8/68 / 7/ / 9/ / 30/68 / 6/68. 0/ 30/68 / 30/ / 3/68 / 6/ / 3/68 / 7/68. 0/ 3/68 /30/69.0 0/ 9/68 V9/73.0 ' 0/ 8/68 /7/ / /68./ 6/ / 3/68 / 6/68. 0/ 8/68 / 6/68. 0/ 8/68 / 7/ / 9/68 / 6/ / 30/68 / 6/68. 0/ 30/68 / 30/ / 3/68 / 6/ / 3/68 / 7/68. 0/ 3/68 V 3?/69.0 /4/68 / 6/68. / 6/68 / 6/68. / 8/68 /6/ / /68 / 6/ / /68 / 6/ /4/68 / 6/ /4/68 V 30/69.0 >,34 /4/68 /6/ / 8/68 /30/69.0 / 9/68 /9/ / 0/68 /6/69. / 0/68 /0/ / /68 3/30/69.0 / /68 / 6/69. / /68 / / / /68 /4/69.0 / 6/68 / 7/ / 9/68 / 6/ / 9/68 / 0/ / 9/68 /4/ / /68 // /6/64 / / (Continued 0 following page)

52 A p r i l 9 7.PUBLIC DEBT OPERATIONS Table PDO8. Foreign Series Securities (Nonmarketable) Issued to Official Institutions of Foreign Countries (Continued) (Payable in U.S. Dollars) 47 Month of activity 968Dec. 969Jan. Securities Certificates of indebtedness Notes Certificates of indebtedness Issue date 0/8/68 /4/68 /0/68 /0/68 //68 //68 //68 /9/68 /9/68 /9/68 //68 //68 //68 /3/68 /3/68 /4/68 //68 /6/68 /9/68 /9/68 //68 //68 /6/68 /6/68 /6/68 /7/68 /7/68 /8/68 /9/68 / 3/68 /6/68 /7/68 / 30/68 /3/68 r 3/ 3/66 / 3/68 /6/68 /0/68 /3/68 / 4/68 /7/68 /3/68 /3/68 Zll/9/68 /9/68 /9/68 //68 /6/68 /6/68 /l7/o8 /7/68 /8/68 / 3/68 /3/69 /3/69 /6/69 /6/69 /7/69 /8/69 /8/69 /0/69 /3/69 /3/69 /6/69 /7/69 /0/69 //69 //69 /3/69 /4/69 /4/69 /4/69 /7/69 /7/69 /8/69 /8/69 /9/69 /30/69 ^/3/69 /ll/6/68 / 9/68 //68 /6/68 Maturity date /7/69 /6/69 /6/69 /0/69 /6/69 //69 /4/69 /6/69 /0/69 /4/69 /9/69 /0/69 /4/69 /9/69 /4/69 /9/69 3//69 /0/69 /9/69 /0/69 3/0/69 3//69 /9/69 3/0/69 3/7/69 3/7/69 3/7/69 3/7/69 3/7/69 /9/69 /9/69 /9/69 /9/69 /9/69 /3/68 3/3/70 4/30/70 4/30/70 4/30/70 6//73 6/7/73 //70 7//73 /9/69 /6/69 /9/69 3/0/69 /9/69 3/0/69 3/7/69 3/7/69 3/7/69 /9/69 /8/69 /9/69 /8/69 4/3/69 /8/69 /8/69 4/3/69 /8/69 /8/69 4/4/69 4/3/69 4/3/69 4/3/69 4/3/69 4/3/69 4/3/69 /8/69 /9/69 4/3/69 /8/69 4/3/69 /8/69 4/3/69 /8/69 4/3/69 /8/69 /7/69 / 0/69 / 0/69 / 0/69 Interest rate (Percent) Amount Issued Retired outstanding end of month (in millions of dollars) >,4 >, (Continued on following page)

53 48 PUBLIC DEBT OPERATIONS Table PDO8. Foreign Series Securities (Nonmarketable) Issued to Official Institutions of Foreign Countries (Continued) Treasury Bulletin (Payable in U.S. Dollars) Month of activity Securities Issue date Maturity date Interest rate Issued Amount Retired outstanding end of month 969Feb. Certificates of indebtedness /9/68 /7/68 /8/68 /9/68 /3/68 /6/68 /7/68 /30/68 /3/68 /3/69 /4/69 /9/69 /3/69 /3/69 /3/69 /3/69 /4/69 //69 /6/69 /6/69 /7/69 //69 //69 /3/69 /4/69 /7/69 /7/69 /8/69 /8/69 /8/69 /9/69 /9/69 /0/69 //69 /4/69 //69 /6/69 /6/69 /7/69 /0/69 3/7/69 3/7/69 3/7/69 /9/69 /9/69 /9/69 /9/69 /9/69 /9/69 /9/69 /8/69 /8/69 /8/69 4//69 4/3/69 4//69 4//69 /8/69 4//69 /8/69 4//69 4//69 4//69 /8/69 4//69 4//69 /9/69 /0/69 /9/69 //69 /0/69 /3/69 /0/69 4//69 /9/69 /0/69 /7/69 (Percent) (in millions of dollars) >,6 Mar. Certificates of indebtedness Notes /6/69 /8/69 /6/69 /7/69 /0/69 //69 //69 /3/69 /4/69 /7/69 /8/69 /30/69 /3/69 /8/69 /8/69 /9/69 //69 /6/69 3/3/69 3/4/69 3//69 3/6/69 3/7/69 3/7/69 3/0/69 3//69 3/3/69 3/3/69 3/3/69 3/0/69 3/0/69 3/4/69 3/4/69 3/6/69 3/7/69 3/3/69 ^3/3/69 f /3/68 6/8/68 9/7/68 /9/69 /0/69 /4/69 /6/69 /7/69 4/3/69 4/3/69 4/3/69 4/3/69 4/3/69 4/3/69 4/3/69 4/3/69 4/3/69 4/3/69 4/3/69 4/3/69 4/3/69 4//69 /9/69 /9/69 4//69 /9/69 4//69 4//69 6/4/69 6/4/69 4//69 6/4/69 6/9/69 6//69 4/3/69 /9/69 6/9/69 /9/69 6/0/69 4/3/69 /9/69 4/3/69 4/3/69 4/3/69 /9/69 3/3/70 /8/7 3/7/73 /9/69 /0/69 /0/69 /0/69 /7/69 (Continued on following page) l6 4o JO >,33

54 April PUBLIC DEBT OPERATIONS, Table PDO8. Foreign Series Securities (Nonmarketable) Issued to Official Institutions of Foreign Countries (Continued) (Payable in U.S. Dollars) Month of activity 969Apr. May. Securities Certificates of indebtedness Notes Certificates of indebtedness Issue date 3//69 3/6/69 3//69 3/3/69 3/0/69 3/4/69 3/4/69 3/6/69 3/7/69 3/3/69 3/3/69 4//69 4/3/69 4/3/69 4/4/69 4/9/69 4/IO/69 4//69 4/4/69 4//69 4/6/69 4/7/69 4/7/69 4/7/69 4//69 4//69 4/4/69 4//69 4//69 4//69 4//69 4/8/69 4/9/69 4/9/69 /3/68 /0/69 /4/69 /6/69 3/6/69 3/7/69 3/0/69 3//69 3/3/69 3/0/69 V /69 4/3/69 4/3/69 4/4/69 4/9/69 4/0/69 4/7/69 4//69 4//69 4//69 4//69 4/8/69 4/9/6Q //69 /6/69 /6/69 /8/69 /9/69 //69 //69 //69 //69 /3/69 /4/69 /4/69 //69 //69 //69 //69 //69 /6/69 /6/69 /9/69 /9/69 /9/69 //69 //69 /3/69 /3/69 /6/69 /7/69 /8/69 Maturity date 6/4/69 6/4/69 6//69 /9/69 «/9/69 4/3/69 4/3/69 4/3/69 /9/69 6/4/69 /7/69 6/4/69 /7/69 /7/69 /7/69 /7/69 /7/69 /7/69 /7/69 /7/69 7/0/69 7/7/69 7/0/69 7/7/69 7/4/69 /7/69 7/0/69 7/4/69 7//69 7/0/69 /0/69 7/0/69 3/3/70 /0/69 /0/69 /0/69 6/4/69 6/4/69 6/9/69 6//69 6/9/69 6/0/69 /7^69 6/4/69 /7/69 /7/69 /7/69 /7/69 7/7/69 /7/69 7/0/69 7//69 7/0/69 7/0/69 /7/69 7/0/69 8//69 8/7/69 8/8/69 6/ 9/69 7/0/69 8//69 8//69 8//69 6/9/69 7//69 6/4/69 6/9/69 7/0/69 7/7/69 8//69 8//69 8//69 7/0/69 7/7/69 8//69 8//69 7/7/69 7/0/69 7/7/69 8//69 7/0/69 8//69 (Continued on following page) Interest rate Issued Retired outstanding end of month "T (Percent) (In millic _ _ 6.0 _ _ _ 6.0 _ _ 6.0 _ 33 8 _ _ 6. _ _ _ , _ _ 6.0 _ _ _ _ _ _ 6 6. _ 6.0 _ 0 6. _ _ 9 6. _ _ _ _ 6.0 _ _ _ _ _ _ _ _ _ 6. 48

55 0 PUBLIC DEBT OPERATIONS, Table PDO8. Foreign Series Securities (Nonmarketable) Issued to Official Institutions of Foreign Countries (Continued) (Payable in U.S. Dollars) Treasury Bulletin Month of activity Securities Issue date Maturity date Interest rate (Percent) Issued Amount outstanding Retired end of month I (In millions of dollars) /8/69 /9/69 / 9/69 8/ 6/69 7/0/69 8/ 3/ June. July. Notes ( Certificates of indebtedness Certificates of indebtedness 3/ 9/68 /3/68 / /69 ' 4/4/69 4/ /69 / /69 /4/69 //69 /9/69 //69 /3/69 /3/69 /6/69 /7/69 /8/69 /8/69 /9/69 /9/69 6//69 6/ 4/69 6//69 6//69 6//69 6/ 0/69 6/ /69 6/ /69 6/ /69 6/3/69 6/ 6/69 6/7/69 6/ 8/69 6/ 8/69 6/9/69 6/4/69 6/4/69 6/4/69 6/ 4/69 6/6/69 6/ 7/69 6/7/69 6/7/69 6/ 7/69 6/7/69 6/ 30/69 6/ 30/69 //68 6/ /68 4/ /69 6/ 0/69 6/ /69 6/ 8/69 6/9/69 6/4/69 6/4/69 6/4/69 6/4/69 6/ 6/69 6/ 7/69 6/7/69 6/7/69 6/ 30/69 6/ 30/69 7//69 7/ /69 7//69 7//69 7//69 7/3/69 7/3/69 7/3/69 7/3/69 7/7/69 7/7/69 7/8/69 7/8/69 7/8/69 7/8/69 7/9/69 7/9/69 7/ 0/60 7//69 //69 /3/70 8/ 3/70 7/4/69 7/4/69 8/ /69 7//69 7/ 7/69 7/ 7/69 7/7/69 7/ 0/69 7/ 7/69 8/ /69 7/ 0/69 8/ /69 8/ 6/69 7/ 0/69 8/ 3/69 8/ 3/69 8/ /69 8/ /69 8/ /69 9//69 9/ 0/69 9//69 9/0/69 9/ /69 9//69 9/ 6/69 9//69 9//69 7/4/69 9//69 9/0/69 9//69 7/4/69 7/7/69 7/4/69 9/^9 9//69 7/0/69 7/7/69 6/6/69 8//69 7/4/69 9/0/69 9/0/69 9//69 9//69 7/4/69 9//69 9/0/69 9//69 7/4/69 7/7/69 7/4/69 9//69 7/7/69 7/0/69 9//69 7/0/69 8/ 3/69 0//69 9//69 7/7/69 7/4/69 9//69 9//69 9//69 9//69 9//69 7/7/69 9//69 9/0/69 9/9/69 9//69 9/9/69 9/9/ U ,703,643 (Continued on following page)

56 April 97, PUBLIC DEBT OPERATIONS Month of activity Table PDO8. Foreign Series Securities (Nonmarketable) Issued to Official Institutions of Foreign Countries (Continued) Securities (Payable in U. S. Dollars) Issue date Maturity date Interest rate Issued Amount Retired outstanding end of month 969 Aug. Sept. Notes Certificates of indebtedness Notes Certificates of indebtedness { 7//69 7/7/69 7/7/69 7/8/69 7/ 8/69 7/ /69 7//69 7/3/69 7//69 7/8/69 7/9/69 7/30/69 7/ 30/69 7/3/69 7/3/69 //68 / 3/68 //69 6/7/69 7//69 7/3/69 7/7/69 7/8/69 7/ 8/69 7//69 7//69 7/8/69 7/9/69 7/3/69 8/ /69 8/ /69 8/4/69 8/ 4/69 8//69 8//69 8/ /69 8//69 8/ 6/69 8/7/69 8/ 8/69 8//69 8//69 8//69 8//69 8/ /69 8//69 8/3/69 8/4/69 8//69 8/ 8/69 8/ 8/69 8/9/69 8/9/69 8/9/69 8/9/69 8/ 0/69 8/ 0/69 8/ /69 8/ /69 8/ /69 8//69 8/ /69 8/ /69 8/ /69 8/ /69 8/ 6/69 /3/68 7/8/69 7/3/69 8/ /69 8//69 8/ /69 8/3/69 8/4/69 8/9/69 8/ 0/69 8/ 0/69 8/ /69 8/ /69 8/ /69 8/ 6/69 9//69 9/ 9/69 9/ 9/69 9/ /69 0/ 0/69 0/ 7/69 0/0/69 9/9/69 0/3/69 0/4/69 0/4/69 0/4/69 9/9/69 0/ 3/69 0/ 0/69 0/ 3/69 4/ 3/70 3/ 3/70 8/ /69 9/ /69 9/ /69 9/ /69 9/ /69 0/ 0/69 0/ 7/69 0/0/69 0/ 4/69 0/ 4/69 0/ 4/69 0/ 0/69 9/ /69 0/ 0/69 9//69 0/ 0/69 9//69 9//69 0/ 0/69 9/ 6/69 9/ 6/69 9/ /69 9/ 6/69 0/ 0/69 0/ 7/69 0/4/69 9/ /69 9/ 6/69 / /69 /3/69 / 3/69 9/ /69 /4/69 9/ /69 /4/69 / 3/69 9/ /69 0/ 7/69 / 3/69 0/0/69 /4/69 /4/69 9/0/69 0/0/69 0/7/69 0/0/69 /4/69 0/4/69 9/0/69 0/4/69 3/3/70 0/ 7/69 0/ 0/69 0/ 0/69 0/ 7/69 0/4/69 /3/69 / 3/69 /3/69 0/ 0/69 / 3/69 0/ 0/69 /4/69 / 4/69 9/0/69 9//69 (Percent) ^ l (In millions of dollars) l ,67 >,68 (Continued on following page)

57 Treasury Bulletin.PUBLIC DEBT OPERATIONS. Table PDO8. Foreign Series Securities (Nonmarketable) Issued to Official Institutions of Foreign Countries (Continued) (Payable in U. S. Dollars) Month of activity 969Sept. Oct.. Securities Certificates of indebtedness Notes < Certificates of indebtedness { Issue date 9/ /69 9/ /69 9/ /69 9/ /69 9/ /69 9/ 3/69 9/ V 69 9/ /69 9/ /69 9/ 9/69 9/ 0/69 9//69 9/ /69 9/ /69 9/ /69 9/ /69 9/ /69 9/ 6/69 9/ 6/69 9/ 7/69 9/8/69 9/ 9/69 9/ /69 9//69 9/ 3/69 9/4/69 9//69 9/ /69 9/6/69 9/6/69 9/6/69 9/ 6/69 9/6/69 9/6/69 9/6/69 / 3/68 /3/68 /4/68 9/3/69 9/4/69 7/3/69 7/30/69 7/3/69 7/3/69 8//69 8/4/69 8//69 8/ /69 8/ /69 8//69 8/ 6/69 9/ /69 9/ /69 9//69 9//69 9/ 6/69 9//69 9//69 9/6/69 9/ 6/69 9/ 6/69 9/ 6/69 0/ /69 0/ /69 0/ /69 0/ /69 0/ 3/69 0/ 6/69 IO/6/69 0/ 6/69 0/ 7/69 0/ 8/69 0/9/69 0/ 9/69 0/ 9/69 0/ 0/69 0/ 4/69 0/ /69 0/ 6/69 0/ 6/69 0/ 6/69 0/ 7/69 0/ 0/69 0/ /69 0/ /69 Maturity date 9//69 9/ 0/69 0/ /69 0/ 7/69 0/0/69 / 4/69 / 4/69 /4/69 / /69 /9/69 / 0/69 / /69 / /69 / /69 0/ 7/69 0/ 0/69 //69 0/ /69 0/ 7/69 / /69 0/ /69 0/ /69 0/ /69 / /69 / /69 0/ /69 0/ 4/69 / 0/69 0/ /69 0/ 0/69 0/ 7/69 /3/69 //69 / 0/69 //69 3/3/70 9/3/69 9/4/69 / /70 / 8/7 0/3/69 0/ 3/69 0/ 0/69 0/ 3/69 0/ 0/69 0/ 0/69 0/ 0/69 0/ 4/69 0/ 0/69 0/4/69 0/4/69 0/ 0/69 0/ 7/69 0/ 0/69 0/ 0/69 0/ 7/69 0/ 4/69 / 0/69 0/ /69 0/ 7/69 / 3/69 / 0/69 0/ /69 0/ 7/69 / /69 /3/69 0/ 0/69 0/7/69 0/0/69 / /69 / /69 //69 / 3/69 / 0/69 //69 //69 / /69 / /69 /3/69 / 0/69 / /69 / /69 / 9/70 / /69 / 0/70 Amount Interest rate Issued Retired (Percent) (In millions of dollars) outstanding end of month _ ll ll _ V I,68 6. I A 6.U ^ _ l ll ll ll ll, ll ll hi _ (Continued on following page)

58 April 97 3 PUBLIC DEBT OPERATIONS. Table PDO8. Foreign Series Securities (Nonmarketable) Issued to Official Institutions of Foreign Countries (Continued) (Payable in U. S. Dollars) Month of activity Securities Issue date Maturity date Interest rate Retired outstanding end of month (Percent) (in millions of dollars) 969Oct. Nov. Dec. Certificates of indebtedness Notes Certificates of indebtedness Certificates of indebtedness 0//69 0//69 0//69 0/3/69 0/3/69 0/3/69 0/3/69 0/4/69 0/4/69 0/V69 0/7/69 0/7/69 0/7/69 0/8/69 0/9/69 0/9/69 0/30/69 ^ 0/3/69 f 6//68 J /3/68 \ 0/ /69 ^0/3/69 9/6/64 ~ 0/ /69 0/ 6/69 0/7/69 0/ /69 0/ /69 0/ /69 0/9/69 0/3/69 /3/69 /3/69 /3/69 /3/69 //69 //69 /7/69 /7/69 /7/69 / 0/69 / 0/69 H/lO/69 / 0/69 / /69 / /69 U //69 / 7/69 /7/69 /4/69 / 4/69 / /69 //69 / 6/69 / 3/68 0/ /69 0/4/69 0/ 9/69 /3/69 //69 /7/69 /7/69 / 0/69 /7/69 /4/69 /4/69 / /69 / 6/69 / /69 //69 / /69 //69 //69 / /69 / /69 / /69 / /69 /3/69 / 4/69 / /69 / 8/69 / 9/69 / 0/69 / /69 / /69 / /70 0/ 4/69 /9/69 / 0/69 / /69 /3/69 / 9/69 / 0/69 / 3/69 /9/69 / 6/70 /7/70 / /69 /9/70 U /3/69 / /69 0/ 3/69 / /70 / 8/7 3//7 //69 / /69 / /69 / /69 / /69 / /69 //70 //69 //69 /3/69 / 0/69 //69 /9/70 //69 /9/70 //69 //70 /9/70 / /69 //69 /30/69 //70 //69 //70 //70 /3/70 /3/70 //69 / 3/70 //70 //69 /3/70 / /70 / /70 / 0/69 /9/70 /0/69 //69 //69 /9/70 //69 /3/70 //69 /3/70 //69 /3/70 //69 //69 //70 /9/70 /3/70 3//70 //69 /6/70 3/3/70 3/4/70 3/4/70 3//70 3/4/70 3/4/70 l/l/ o l >,79.,76 (Continued on following page)

59 4 PUBLIC DEBT OPERATIONS, Table PDO8. Foreign Series Securities (Nonmarketable) Issued to Official Institutions of Foreign Countries (Continued) Treasury Bulletin (Payable in U. S. Dollars) Month of activity Securities Issue date Maturity date Interest rate Issued Amount Retired outstanding end of month (Percent) (in millions of dollars) 969Dec. 970Jan. Certificates of indebtedness Notes Certificates of indebtedness /0/69 /0/69 //69 //69 //69 //69 /6/69 U/9/69 /k/69 / 4/69 / 6/69 / 6/69 / 6/69 / 9/69 / 9/69 / 9/69 / 9/69 / 9/69 / 9/69 / 9/69 / 30/69 / 30/69 / 3/69 / 3/68 0/ 9/69 / 0/69 / 6/69 / 9/69 / 9/69 / 9/69 / 30/69 / 30/69../ 3/69 //70 //70 //70 /7/70 /7/70 /8/70 /9/70 //70 //70 /3/70 /3/70 /4/70 /4/70 //70 /6/70 /9/70 / 0/70 //70 //70 //70 //70 /3/70 / 6/70 / 6/70 /7/70 /9/70 3/0/70 3//70 / /70 / 6/70 3/6/70 /6/70 3/6/70 3/6/70 3/4/70 3//70 3/0/70 3/6/70 /3/70 3/3/70 3/4/70 3//70 3//70 3/6/70 3/30/70 /3/70 3/3/70 /3/70 //70 /9/70 3/0/70 3//70 /3/70 3/6^70 /3/70 3/3/70 /3/70 3/3/70 /9/70 /3/70 /9/70 3/3/70 4/8/70 4/8/70 4/8/70 4/3/70 3/3/70 4/8/70 3/3/70 4/8/70 3/3/70 4/6/70 3/3/70 3/3/70 3/6/70 3/3/70 4/8/70 4/3/70 3/6/70 3/6/70 4/8/70 4/8/70 4/9/ ,8 Feb. Notes Certificates of indebtedness 9/9/68 9/0/68 9/6/68 / /70 /30/70 / /69 /4/70 / 6/70 /7/70 / /70 / /70 //70 / /70 /3/70 /3/70 /4/70 /4/70 / 6/70 /6/70 /6/70 / 6/70 /9/70 / /70 / /70 /30/70 4//7 /0/7 //70 3/3/70 4/8/70 4/8/70 3/0/70 3/3/70 4/0/70 4/7/70 3/3/70 /4/70 3/6/70 3/3/70 3/6/70 3/3/70 /6/70 //70 3/6/ l ,606 (Continued on following page)

60 April 97 PUBLIC DEBT OPERATIONS Table PDO8. Foreign Series Securities (Nonmarketable) Issued to Official Institutions of Foreign Countries (Continued) (Payable in U.S. Dollars) Amount Month of activity Securities Issue date Maturity date Interest rate Issued Retired outstanding end of month /3/70 /8/70 /9/70 /9/70 /9/70 //70 /6/70 3/6/70 3A6/70 3//70 3A6/70 /9/70 //70 /6/70 (Percent) I (In millions of dollars) Notes /3/68 // Mar. Apr. May. Certificates of indebtedness Notes Certificates of indebtedness Notes Certificates of indebtedness //69 / 0/69 /U/69 /6/69 //70 /9/70 / 0/70 / /70 / /70 / /70 / /70 /3/70 /V70 / 6/70 /6/70 3//70 3//70 3//70 3/3/70 3/V70 3//70 3/6/70 3/6/70 3//70 3/6/70 3/3/70 3/U/70 ^ 3/3/70 r / 3/68 J 3/ /70 ^ 3/ 6/70 V. 3/3/70 / 8/70 / 6/70 / /70 / 9/70 / /70 3/ 6^70 3/ 3/70 l/8/70 +/6/70 V 8/70 ^/9/70 / 6/68 /0/68 /3/68 /3/68 /9/70, V30/70 ' /3/70 /0/70 //70 /6/70 3//70 3/3/70 3/4/70 4/8/70 4/9/70 /4/70 //70 ^ //70 3//70 3/0/70 3/U/70 3/0/70 3/3/70 3/3/70 3/3/70 3/3/70 V3/70 3/0/70 3/3/70 3/3/70 3/3/70 3/3/70 / 6/70 3/6/70 3/3/70 6/ /70 3/6/70 3/6/70 3/6/70 3//70 3/6/70 6/ /70 6//70 6/3/70 6/U/70 6/30/70 3/3/70 6/ 7/7 7//7 7/9/7 l/8/70 if/6/70 V3/70 V9/70 k/0/70 l/7/70 6//70 6/30/70 7/8/70 7/6/70 7/8/70 7/9/70 V30/70 V30/70 V30/70 //70 8/6/7 9/3/7 /4/70 //70 //70 /6/70 6//70 6/3/70 6/4/70 7/8/70 7/9/70 8/4/70 8//70 8// U _ ll _ _ T ll ll ^ ,873,60,34 Notes //68 < //70 ^ //70 //70 /7/7 6/4/ _ (Continued on following page)

61 6 Treasury Bulletin, PUBLIC DEBT OPERATIONS. Table PDO8. Foreign Series Securities (Nonmarketable) Issued to Official Institutions of Foreign Countries (Continued) (Payable in U.S. Dollars) Amount 970June. Month of activity July. Aug. Sept. Oct. Securities Certificates of indebtedness Notes Certificates of indebtedness Notes Certificates of indebtedness Notes Certificates of indebtedness Certificates of indebtedness Noxes VBonds Issue date 6//70 6//70 6/4/70 6/6/70 6/6/70 6/30/70 /3/6 /3/68 6/4/70 6//70 6/8/70 6//70 { 4/8/70 4/6/70 6/4/70 6/6/70 6/6/70 7/6/70 7/7/70 7/8/70 7//70 7/6/70 7//70 7/4/70 7/7/70 7/7/70 7/8/70 7/9/70 /3/68 8//70 8/0/70 8/7/70 8/4/70 8//70 f //69 < 8/3/70 ^ 8/3/70 6//70 6/30/70 7/6/70 7/7/70 9//70 9/6/70 9//70 9/3/70 9/8/70 9/30/70 L 9/30/70 7/6/70 7/7/70 7/8/70 7/6/70 7//70 7/4/70 7/7/70 7/8/70 7/9/70 9/30/70 0//70 0/7/70 0/8/70 0/6/70 0//70 0//70 0/3/70 0/6/70 0/7/70 0/8/70 0/8/70 0/9/70 r /3/68 0/8/70 9/6/64 Maturity date 9//70 9//70 9/4/70 7/3/70 9//70 9/30/70 6/3/70 //70 8/6/7 0/8/7 0/8/7 /8/7 7/8/70 7/6/70 9/4/70 7/3/70 9//70 0/6/70 0/7/70 0/8/70 0/4/70 0/6/70 0//70 0/3/70 0/7/70 0/7/70 0/8/70 0/9/70 //70 //70 /0/70 /7/70 /4/70 //70 8/3/70 /3/7 /0/7 9//70 9/30/70 0/6/70 0/7/70 //70 /6/70 //70 /3/70 /8/70 /30/70 /30/70 0/6/70 0/7/70 0/8/70 0/6/70 0//70 0/3/70 0/7/70 0/8/70 0/9/70 /30/70 /3/70 /7/7 /8/7 //7 //7 //7 //7 /6/7 /7/7 /8/7 /8/7 /9/7 //70 /0/7 //70 Interest rate (Percent) Issued Retired (In millions of dollars) outstanding end of month ) 3,9 4,076 ^Continued on following page)

62 A p r i l PUBLIC DEBT OPERATIONS. Table PDO8. Foreign Series Securities (Nonmarketable) Issued to Official Institutions of Foreign Countries (Continued) (Payable in U.S. Dollars) 970Nov. Month of activity Dec. 97Jan. Securities Certificates of indebtedness Notes. Certificates of indebtedness Notes Certificates of indebtedness Notes Issue date Maturity fiate Interest rate Issued 8//70 //70 (Percent) 6.4 8/0/70 /0/ /7/70 /7/70 6. _ 8/4/70 /4/ //70 // _ 9/30/70 /30/70.80 _ //70 //7.6 0 /0/70 /0/7.4 0 /0/70 /0/7.4 /7/70 /7/ /3/70 /3/ /3/70 /3/ /4/70 /4/7 4.SO 60 /4/70 /4/ //70 // //70 // /7/70 /6/ /30/70 3// /3/68 // _ //70 // //70 // _ 9/6/70 /6/ _ 9//70 //70.9 _ 9/3/70 /3/70.9 _ 9/8/70 /8/70.9 _ 9/30/70 /30/70.80 _ 0//70 /3/ /7/70 /7/7 6.0 _ 0//70 //7.9 0/8/70 /8/7.8 _ 0/9/70 /9/7.8 _ //70 //7.6 _ /4/70 /4/ _ //70 // _ //70 // _ /9/70 3/9/ //70 3// /6/70 3/6/ //70 3//7 4.7 /3/70 3/3/ /8/70 3/9/ /3/70 3/3/ /3/69 // _ //70 //7 6.0 _ //70 /4/ /8/70 /8/ /6/70 //7.44 _ 0//70 //7.9 _ 0/3/70 //7.9 _ 0/6/70 /6/7.9 0/7/70 /7/7.8 _ 0/8/70 /8/7.8 _ /0/70 /0/7.4 _ /0/70 /0/7.4 /7/70 /7/7.30 _ /4/70 /4/ /7/70 /6/ //70 3// /6/70 3/6/ //70 3//7 4.7 _ /3/70 3/3/7 4.7 _ /8/70 3/9/7 4.7 _ /8/7 4/8/ //7 4// /9/7 4/9/7 4. //7 4// //7 4/6/ /6/7 4/6/ /7/7 4/7/ /8/7 4/8/ /4/69 /8/ _ /8/7 /4/ Amount Retired (In millions of dollars) outstanding end of month > 4,637 > 4,33 > 3,96 (Continued on following page)

63 8 Treasury Bulletin Month of activity PUBLIC DEBT OPERATIONS Table PDO8. Foreign Series Securities (Nonmarketable) Issued to Official Institutions of Foreign Countries (Continued) Securities Issue date (Payable in U.S. Dollars) Maturity date Interest rate Issued Amount Retired (Percent) (n millions of dollsits ) f /0/70 /0/7.4 _ /3/70 /3/ /3/70 /3/ /7/70 /6/ /3/7 /3/ Certificates of indebtedness a /0/7 /0/ Feb... < /6/7 3/6/ f /3/7 /4/ /3/7 /4/ /4/7 /4/ ^ /6/7 /6/ outstanding end of month JJotes [ 0//69 /8/ _ 0 \ /8/7 4/7/ j f /30/70 3// _ 0 /9/70 3/9/ /8/70 3/9/7 4.7 /3/70 3/3/ /6/7 4/6/ Certificates of indebtedness < 3//7 6// < 3//7 6// ,7 3//7 6// /6/7 3/6/7 3/9/7 6/9/ /0/7 6/0/ //7 6// _ I 3/3/7 6/30/ Notes Source: Bureau of the Public Debt. Less than $00,000. f 0/3/69 3//7 _ 7.3 ^ 3//7 4/7/7 3.6 J Footnotes to Table PDO7 Source: Daily Treasury statement and Bureau of the Public Debt. 7/ / Original call and maturity dates are used. / All by investors other than Federal Reserve Baiiks. / Rolled over into 9month and oneyear bills (see Table PD04). k/ Holders of the maturing securities were not offered preemptive rights to exchange their holdings, but were permitted to present them in payment or exchange, in whole or in part, for the new securities offered. 8/ 3/ Excess of maturing securities over allotments of new securities paid for with the maturing securities. 6/ Tax anticipation issue: for detail of offerings beginning July 968, see Table PD04; for amounts redeemed for taxes and for cash see "Note" below. p Of this amount $909 million of the /8% notes and $6,6 million of the 63/8% notes were submitted in payment for subscriptions allotted for the 73/4% Treasury Notes of Series G97 which were offered on a cash basis. Holders of the maturing notes were not offered preemptive rights to exchange their holdings for the new notes. (For detail of offering see Table PD04). Of this amount $0 million of the 63/8% notes and $80 million of the 4% bonds were exchanged by Federal Reserve Banks and Government accounts for notes of Series C97. Other holders of the maturing securities were not given preemptive rights to exchange their holdings for the 7^% notes. Preliminary. Note: Information on retirement of tax anticipation issues referred to in footnote 6, in millions of dollars: Date of retirement Securities amount retired Redeemed for taxes Redeemed for cash 3/4/69 Bill,0 86,89 4//69 Bill,003 89,74 6/3/69 Bill 3,0o\ 6/3/69 Bill,00l) 6/3/69 Bill,79J,099 4,67 //69 Bill, ,99 3/3/70 Bill,7 4,37 4//70 Bill,007! 4//70 Bill,007) 4//70 Bill l,73j,3 3,63 6//70 Bill 3,004 6//70 Bill,04, 3,86 9/3/70 Bill,78 70,008 3//7 Bill,7 47,060

64 A p r i l PUBLIC DEBT OPERATIONS Table PDO9. Foreign Currency Series Securities (Nonmarketable) Issued to Official Institutions of Foreign Countries Month of activity Securities Payable in Issue date Maturity date Amount. (Dollar equivalent) Interest rate Issued Retired outstanding end of month 968July... Aug... Sept... Oct... Dec... I j 969Jan... < Feb... Mar... Certificates of indebtedness Notes Notes Notes fswiss francs /Swiss francs \ Swiss franc s VSwiss francs Italian lire Italian lire German marks German marks Swiss francs Swiss francs /6/68 7//68 7/6/68 7/6/68 /30/67 7/30/68 /3/67 8/9/68 6/30/67 9/30/68 7/6/68 0/7/68 0/6/68 /4/69 7/30/68 /30/70 //68 /9/73 9/30/68 /30/70 (Percent) (I]a millions of dollars) 0 0 o',93»,00.,00 /'Swiss francs 7//68 0/7/68. Certificates of indebtedness / Swiss francs 7/6/68 0/6/ \ Swiss francs 0/7/68 4/7/ >,3 VjSwiss francs 0/6/68 /6/ Notes German marks 0//68 4//73. 6 J I j Netherland /9/68 /9/ Certificates of indebtedness < guilders German marks /7/68 3/7/ Notes i Apr... < Certificates of indebtedness Notes /''German marks ) Belgian francs \ German marks Lltalian lire (Swiss francs ISwiss francs ) Swiss francs \ German marks Swiss francs ^Swiss francs Caerman marks Swiss francs I Swiss francs German marks Vperman marks //66 /4/67 //68 /6/68 0/6/68 /6/68 7/6/68 /7/68 /6/69 /4/69 //67 0/6/67 /6/69 //69 /6/69 //68 /4/69 //70 6/8/73 /6/69 /4/69 /4/69 3/7/69 4/6/69 7/4/69 //69 /6/69 4/6/70 /4/7 7// Certificates of indebtedness Swiss francs /6/69 8/6/69. 0 German marks Austrian schillings Notes Swiss francs < Swiss francs Swiss francs Austrian schillings Notes Certificates of indebtedness Notes ^German marks ) German marks \ Swiss francs V.Swiss francs rswiss francs ) Swiss francs \ Swiss francs V3wiss francs jgerman marks ISwiss francs IGerman marks \ German marks ISwiss francs ^Swiss francs 8//67 8/3/67 /7/67 /6/69 /7/69 /4/69 9//67 3/3/69 //67 3//69 0/7/68 /6/69 4/7/69 4/6/69 0/3/67 /9/68 4//69 4//69 4/9/69 4/9/69 /3/69 /4/69 /7/69 /6/70 /9/70 8/4/70 3/3/69 9/3/70 3//69 6//70 4/7/69 4/6/69 0/7/69 7/6/69 4//69 4/9/69 0//70 0//73 7/9/70 7/9/ J ^,30 ^,9 8 >, >,4 >,47 May... Notes German marks //67 //69.4 0,367 June... Notes J Swiss francs 3/7/68 6/9/ ] Swiss francs 6/9/69 9/9/ »,367 July... < r Certificates of indebtedness Notes Swiss francs J Swiss francs \ Swiss francs VSwiss francs fswiss francs IAustrian < schillings JSwiss francs l^wiss francs /4/69 4/6/69 7/7/69 7/4/69 4/3/68 6//68 7/3/69 7/6/69 7/4/69 7/6/69 8/8/69 /3/70 7/3/69 //69 0//70 0/6/ ,30 (Continued on following page)

65 60 PUBLIC DEBT OPERATIONS. Table PDO9. Foreign Currency Series Securities (Nonmarketable) Issued to Official Institutions of Foreign Countries (Continued) Treasury Bulletin Month of activity Securities Payable in Issue date Maturity date Interest rate Amount (Dollar equivalent) Issued Retired outstanding end of month (Percent) (In millions of dollars) 969Aug. Sept.. Oct. Nov. 970Jan. Feb.. Mar.. Apr.. May.. June. July. Aug.. Sept. Oct. 97Jan. Feb. Mar. Source: i Certificates of indebtedness Notes Notes Certificates of indebtedness Notes Certificates of indebtedness Notes Certificates of indebtedness Notes Certificates of indebtedness Notes {Certificates of indebtedness Notes Notes Notes Certificates of indebtedness Notes Certificates of indebtedness Notes Notes Certificaxes of indebtedness Notes { CCertificates of indebtedness Notes Certificates of indebtedness Bureau of the Public Debt. I Swiss francs / Swiss francs ] Swiss francs Swiss francs Italian lire Swiss francs Swiss francs Swiss francs Swiss francs Austrian schillings Swiss francs German marks German marks German marks German marks wswiss francs Swiss francs Swiss francs German marks German marks Italian lire German marks Swiss francs German marks German marks German marks German marks German marks Swiss francs Swiss francs Swiss francs German marks German marks German marks Swiss francs Swiss francs Swiss francs Swiss francs Swiss francs Swiss francs Swiss francs Swiss francs Swiss francs Swiss francs Swiss francs f Swiss francs ) Swiss francs \ Swiss francs L Swiss francs f Swiss francs Swiss francs Swiss francs Swiss francs Swiss francs Swiss francs Swiss francs Swiss francs Swiss francs ^Swiss francs Swiss francs Swiss francs iswiss francs Swiss francs Swiss francs Swiss francs Swiss francs /6/69 8/6/69 7/7/69 8/8/69 /6/68 /7/68 9/9/69 4/7/69 0/7/69 /4/69 8/8/69 //68 //69 3/3/69 /8/69 7/4/69 /3/70 0//67 //68 7/30/68 8/9/68 9/30/68 0//68 /6/69 4//69 8/9/69 0//69 /30/70 8/6/69 /6/70 7/3/67 4//68 6/4/68 0/7/69 /6/69 4/6/70 /6/69 /7/69 /6/70 /9/70 3//69 6/ /70 /3/70 7/3/70 V9/69 4/9/70 7/9/70 7/9/70 / 6/70 8/6/70 6/9/69 9/9/70 7/3/69 7/6/69 0//70 0/6/70 7/3/70 //7 9/9/69 /9/7 8/6/70 //7 /8/69 /8/7 3/0/7 8/6/69 /6/70 8/8/69 /8/69 6/8/73 9/9/69 /9/7 0/7/69 4/7/70 8/4/70 /8/69 //70 /4/7 9/3/70 0//70 /8/7 /3/70 7/3/70 4/3/7 7//7 /30/70 /9/73 /30/70 4//73 7//73 IO//73 /9/73 0//73 6//7 /6/70 8/6/70 /3/7 0//7 //7 4/7/70 4/6/70 7/6/7 /6/70 /9/70 8/6/7 8/9/7 6//70 9/3/7 7/3/70 //7 7/9/70 7/9/70 0/8/7 0/9/7 8/6/70 //7 9/9/70 /9/7 0//70 0/6/70 //7 /7/7 //7 7//7 /9/7 /30/7 //7 8//7 /8/7 /8/7 9/0/ ,0,0 ^,9,996 >,390,390,40,366,366,366 >,366,366,366,366,366,366,66

66 A p r i l 9 7. U N I T E D S T A T E S S A V I N G S B O N D S. 6 Series E and H are the only savings bonds currently being sold. Series E has been on sale since May, 94, and Series H has been on sale since June, 9. Series AD were sold from March, 93 through April 30, 94. Series F and G were sold from May, 94, through April 30, 9. Series J and K were sold from May, 9, through April 30, 97. Details of the principal changes in issues, interest yields, maturities, and other terms appear in the Treasury Bulletins of April 9, May 9, May 97, October and December 99, and May and October 96J the Annual Report of the Secretary of the Treasury fiscal year 966 (pages 97 and 8), and fiscal year 967 (pages 79 and 8); and the Treasury Bulletin of June 968. Table SB. Sales and Redemptions by Series, Cumulative through March 3, 97 (In millions of dollars) Series Sales / Accrued discount Sales plus accrued discount Redemptions / Amount outstanding Interest bearing debt Matured noninterestbearing debt Series AD /., Series E and H, Series F and G, Series J and K, AK... 3,949,87 8,396 3,6,04 3,948, 98,003 84,34 9, 3,74 4,998 3,80 9,49 3,74,34 88,087 34,3,4 70,039, Footnotes at end of Table SB4. Table SB. Sales and Redemptions by Periods, A ll Series Combined (In millions of dollars) Period Sales / Accrued discount Sales plus accrued discount Redemptions / Sales price y Accrued discount / Interestbearing debt Amount Outstanding Matured noninterestbearing debt Fiscal vearj?? ,94 8,48 6,407 3,64 03,983 9,67 47, ,4,38,780,76 4, , ,8,408,96,73 4, , ,66,476 6,3,64 4, , ,43,7 6,060,346 4, , ,60,4 6,04,74 4, , ,96,66 6,9,9 4,97 9, ,739,73 6,473,98 4,978,003, ,0,789 6,338 6,339,37,0, ,449,84 6,9 6,748,08,40,8 P.nl ^ridat ypflrs ,068 9,4 64, 6,48 06,380 0,049 47, ,78,397,67,60 4, , ,760,43 6,83,0 4, , ,609,08 6,7, 4, , ,486,7 6,03,44 4, 889 0, ,860,9 6,4 6,000, , ,898,686 6,84,793 4,84 9, ,696,79 6,4 6,33,094,040, ,393,83 6,4 6,639,47,8, ,66,909 6,74 6,9,07,3,84 0 Months: 970Mar ,3 9 Apr , ,307 6 June ,8 July ,300 Aug , ,44 Oct , ,693 Dec , Jan ,98 49 Feb ,04 49 Mar ,34 48 Footnotes at end of Table SB4.

67 6 U N I T E D S T A T E S S A V I N G S B O N D S. Treasury Bulletin T a b l e S B 3. S a l e s a n d R e d e m p t i o n s b y P e r i o d s, S e r i e s E t h r o u g h K [In millions of dollars) Period Sales / Accrued discount Sales plus accrued discount Redemptions / Sales price / Accrued discount / Interestbearing debt Amount outstanding Matured noninterestbearing debt Series E and H combined Fiscal years: ,04 6,4 3,36 79,43 7,746 7,68 43, ,4,33,73 4,603 3, , ,8,386,904 4,00 3, , ,66,48 6,4 4,736 3, , ,43,0 6,04 4,987 4, , ,60,4 6,9,30 4, , ,96,69 6,84,449 4, , ,739,73 6,470,7 4, , ,0,788 6,337 6,98,,086, ,449,84 6,9 6,7,484,37,8 Calendar years: ,68 6,869 6,037 8, 73,39 8,0 44, ,78,37,60 4,636 3, , ,760,404 6,64 4,7 3, , ,609,49 6,0 4,84 4, , ,486,4 6,000,7 4, , ,860,80 6,440,477 4,6 96 0, ,898,680 6,78,439 4,9 99, ,696,77 6,4,9 4,898,07, ,393,83 6,4 6,6 <,39,73, ,66,909 6,74 6,8,060,,84 Months; 970Mar ,3 Apr ,8 May ,307 June ,8 July ,300 Aug ,37 Sept ,44 Oct ,37 Nov ,693 Dec ,84 97Jan ,98 Feb ,04 Mar ,34 Series F, G, J, and K combined ij Fiscal vears: ,9,7 33,68 9,37 /6/: / 8,9,04 3, ,0 8/,09, / 7 49, / 400 7, , _ Calendar vears: ,9,30 33,8 9,89 /6/7/8/ 8,88,074, // 909,036 3i / 434 8, , , _ Months: 970Mar. 3 Apr... May... 0 June July... _ 48 Aug Sept Oct Nov... _ 4 Dec Jan... _ 44 Feb Mar... 4 Footnotes at end of Table SB4. (Continued on following page)

68 April U N I T E D S T A T E S S A V I N G S B O N D S Period Sales / Table SB3. Sales and Redemptions by Periods, Series E through K (Continued) discount Sales plus accrued discount (In millions of dollars) Series E Redemptions / Sales price / Accrued discount / Exchanges of E bonds for H bonds Amount outstanding (interestbearing debt) Fiscal years: ,06 6,4 6, 0 78,034 70,349 7, , ,674,33,00 4,343 3, , ,94,386,300 4,03 3, , ,36,48,94 4,363 3, , ,H,0,64 4,38 3, , ,46,4,787 4,80 3, , ,99,69 6,7 4,89 3, , ,466,73 6,96,4 4, , ,343,788 6,3,48 4,46, , ,89,8 a 6,30,99 4,7, ,67 Calendar years: ,793 6,869 8,66 80,03 7,00 8, , ,64,37 4,996 4,349 3, , ,8,404,89 4,9 3, , ,3,49,63 4,4 3, , ,09,4,606 4,60 3, , ,40,80 6,03 4,93 3, , ,74,680 6, 4,94 4, , ,4,77 6,09,300 4,83, , ,,83 6,0,83 4,66, , ,03,909 6,4,66 4,40, 8 44,88 Months: 970Mar , , , , , , , , , ,88 97Jan U ,9 oe Feb ,067 Mar ,74 Series H Fiscal years: ,998 6,998,398,398 _ 389, _ 9 6, _ 9 7, , _ 88 7, _ 7, _ 6 7, , _ 84 7, ,4 Calendar.years: ,374 7,374,9,9 90 6, _ 99 6, _ 08 7, _ 98 7, _ 90 7,7U , _ 07 7, , _ 80 7, ,0 Months: 970Mar _ 4 7, _ 0 7,7 _ 8 7, ,4 July _ 3 7,090 Aug , _ 8 7, , , ,0 97Jan _ 0 7,07 Feb _ 7,037 Mar ,00 " Footnotes at end of Table SB4.

69 64 Treasury Bulletin U N I T E D S T A T E S S A V I N G S B O N D S Table SB4. Redemptions of Matured and Unmatured Savings Bonds (In millions of dollars) Period /. Matured Series E and H Other Unmatured Series E and H Other Unclassified 0/ Fiscal years: ,633 0,09,8 4,877 i / 0,49 6,007 4, ,846 4,63,97,34 3,467, ,98 4,,97,44 4,67 3,3, ,44 3,730,906,84 4,739 3,9, ,49 3,6,996,6 3,778 3, I ,7 4,6,304,8 6/ 4,6 a 3,8, ,89, 73, / 3,38 3, ,76,93, / 3,070, ,73,0,93 67 /,9, ,64,07, ,088, ,346,84, ,84 3, ,74,3, ,300 3, ,9,47,09 4 3,3 3, ,98,48, ,40 3, ,339,60, ,66 3, ,748,79,76 9 3,84 3,84 Cf^lenflar jearg: ,60,06 6,097,40 i / 9,46,3 4, ,64 4,46,89,3 3,899, ,630 4,6,084,07,07 3,3, , 3,393,69,70 3,8 a 3, ,77 4,70,433,68 6/ 4,0 3,44, I ,73 3,033,944,089 6/ U 3,938 3, ,9,,633 9 / 8/ 3,00, ,60,387, // 3,00, ,0,043,67 46/ 3,03, ,,7, ,7 3, ,44,48,93 6 3,87 3, ,000,47, ,384 3, ,793,386, ,a 3 3, ,33,6, ,4 3,4a ,639,686, ,76 3, ,9,84,87 3,88 3,88 43 Months: 970Mar _ _ _ _ Aug _ _ 90 Nov...? _ Jan Feb Mar.) Source: Daily Treasury statement; Office of Debt Analysis in the Office of the Secretary. Note: In these tables sales of Series AF and J bonds are included at issue price, and redemptions and amounts outstanding at current redemption value. Series G, H, and K are included at face value throughout. Matured bonds which have been redeemed are included in redemptions. Matured J and K bonds outstanding are included in the interestbearing debt until all bonds of the annual series have matured, and are then transferred to matured debt on which interest has ceased. / Sales and redemption figures include exchanges of minor amounts of (l) matured Series bonds for Series G and K bonds from May 9 through April 97 and () Series F and J bonds for Series H bonds beginning January I960; however, they exclude exchanges of Series E bonds for Series Hbonds, which are reported in Table SB3. 7j Details by series on a cumulative basis and by periods for Series AD combined will be found in the February 9 and previous issues of the Treasury Bulletin. / Because there is a normal lag in classifying redemptions, the distribution of redemption between sales price and accrued discount has been estimated. Beginning with the Treasury Bulletin of March 96 the lj method of distributing redemptions between sales price and accrued discount has been changed to reflect the distribution shown in final reports of classified redemption. All periods shown have been revise on this basis. Series F and G sales were discontinued April 30, 9, and Series J and K sales were discontinued April 30, 97. Sales figures after April 30, 97, represent adjustments. J/ Includes exchanges of Series 94 F and G savings bonds for 3/4# marketable bonds of / Includes exchanges of Series 948 F and G bonds for 43/4$ marketable notes of 964. / Includes exchanges of Series 949 F and G bonds for 4%marketable bonds of / Includes exchanges of Series 90 F and G bonds for 37/8$ marketable bonds of 968. / Includes exchanges of Series 9 and 9 F and G bonds for 37/8% marketable bonds of 97 and 4% marketable bonds of / Represents changes in the amounts of redemptions not yet classified between matured and unmatured issues. Less than #00,000.

70 A p r i l U N I T E D S T A T E S S A V I N G S N O T E S United States savings notes were on sale May, 967 through June 30, 970. The notes were eligible for purchase by individuals with the simultaneous purchase of Series E savings bonds. The principal terms and conditions for purchase and redemption and information on investment yields of savings notes appear in the Treasuiy Bulletins of March 967 and June 968. Table SN. Sales and Redemptions by Periods (In millions of dollars) Period Sales / Accrued discount Sales plus accrued discount Redemptions Sales price Accrued discount Amount outstanding Fiscal vears: Calendar vears; Months: 970Mar Apr May June July Aug Sept Oct Nov Dec Jan Feb # 67 Mar Source: Daily Treasury statement; Office of Dobt Analysis in the Office / Sales were discontinued after June 30, 970. Figures shown thereafter of the Secretary. represent adjustments. Less than $00,000.

71 66 Treasury Bulletin O W N E R S H I P O F F E D E R A L S E C U R I T I E S Table OFS. Distribution of Federal Securities by Classes of Investors and Types of Issues End of fiscal year or month Tbtal Federal securities outstanding outstanding (in millions of dollars) Interestbearing public debt securities Matured Held by U.S. Government accounts Public Held by private investors public debt Nonmarketable issues and debt Public held by Public Non bearing marketable Other Reserve Federal Special marketablablmarket no issues banks interest outstanding u Agency securities Held by U.S. Govt, accounts and Fed. Reserve banks Held by private investors ,8 94,44 4, 7,08 44,86,8 9,663 0, 9,0,33 3,79 7, , ,983 30,94,638 9,033 44,49,77 3,07 4,89 6,449,840 3,906 8, ,4l6 I$b4 30, ,37 8,98 9,878 46,46,74 34,79 3,964 6,86,48 4,36 8,63 6 8,00 96, 36,609 33,3 6,07 0,3 >8,49,7 39,00,94 9,44 3,697 4,6 9, , ,84 3,43 64,36,00 0,96,070 4,69 08,946 4,909 4,037 4,476 3, , , 344,676 3,86 7,809 3,63 6,03,07 46,79 03,78 0,38 3,4o 3,93 8,4,00 6, , ,40 76,38 4,694 9,374,07,30 6,03 9,668 6,363 3,78 4,399 3,00, ,969 3,79 84,8 6,007 66,738,07 4,09,89 6,006 6,84,99 4,49,846, , 383,48 369,06 9,70 6,974 76,4,07 7,74 6,4 7,9 8,3,893,0,3 9,96 970Feb... 38,83 366,88 89,447 6, 7,6,07,83,88 63,933 7,6,988,9673,80 0,387r Mar , ,963 90,368 6,36 7,93,07,78 3,809 66,047 7,76,044,987,6 0,46 Apr ,4 36,099 90,93 6,47 7,60,07 6,08 8,398 6,07 7,38,09,948,0 0,397 May ,77 369,44 9,33 7,044 73,,07 7,307 9,06 6,09 7,96,944,670,6 0,04 June ,48 369,06 9,70 6,974 76,4,07 7,74 6,4 7,9 8,3,893,0,3 9,96 July , ,6 94,767 6,80 7,89,07 8,97,8 6,40 8,838,946,47,70 9,90 Aug , ,90 96,368 6,866 77,43,07 9,947,90 63,698 8,89,996,469,99 9,870 Sept... 39,60 376,80 9,487 6,87 76,4,07 9,97,39 6,480 8,879,88,48,6 9,89 Oct... 39,66 378,34 94,48 6,984 7,363,07 60,0 3,89 6,80 8,7,87,46,644 9,8 Nov ,00 38,667 94,64 7,049 7,W,07 6,33,869 66,6 9,704,973,460,606 9,84 Dec... 40,60 387, 97,093 7,09 77,93,07 6,4 8,07 68,480 9,37,907,49,94 9,897 97Jan... 40,84 386,487 96,660 7,09 77,380,07 6,783 8,044 68,67 9,369,84 3,04,6 0,94 Feb ,67 388,648 98,06 7,0 78,844,07 6,46 8,70 68,30 9,64,07,03,89 0,4 For content see Table FD6. r itevised.

72 A p r i l 9 7 O W N E R S H I P O F F E D E R A L S E C U R I T I E S. 67 Table OFS. Estimated Ownership of Public Debt Securities by Private Investors End of month privately held Commercial banks / (Par values / in billions of dollars) Individual Savings bonds Other securities Series E and H Series Other / Nonbank investors Insurance companies Mutual savings banks Corporations lj State and local governments Foreign and international i / Other investors 6 / 939Dec Feb I June June Dec June June June Dec June Dec June June Dec June June Dec Jan Feb Mar , June July Oct Nov D ec Jan Feb Mar Apr May June July Aug Sept Oct Nov / ti 97Jan Feb.p Sources Office of Debt Analysis in the Office of the Secretary. $/ Consists of the investments of foreign balances and international / United States savings bonds, Series AF and J, are included at cur accounts in the United States. rent redemption value. Consists of commercial banks, trust companies, and stock savings banks in the United States and in Territories and island possesions. Figures exclude securities held in trust departments. Includes partnerships and personal trust accounts. Exclusive of banks and insurance companies. 6 / Consists of savings and loan associations, nonprofit institutions, corporate pension trust funds, and dealers and brokers. Also included are certain government deposit accounts and governmentsponsored agencies. / Includes U.S. savings notes. Sales began May, 967 and were discontinued after June 30, 970. p Preliminary

73 68.TREASURY SURVEY OP OWNERSHIP, FEBRUARY 8, Q7 Treasury Bulletin The monthly Treasury Survey of Ownership covers securities issued by the United States Government, Federal agencies, Federallysponsored agencies, and the District of Columbia. 9^ Treasury Bulletin, for corporations and savings and loan associations in the September i960 Bulletin, and for State and local governments in the February 96 Bulletin. The banks and insure ace companies included in the Survey currently account for about 90 percent of all such securities Holdings by commercial banks distributed according to Federal Reserve member bank classes and nonmember banks are held by these institutions. The similar proportion for corporations and for savings and loan associations is 0 percent, published for June 30 and December 3. and for State and local governments, 70 percent. Data were first published for banks and insurance companies in the May Holdings by corporate pension trust funds axe published quarterly, first appearing in the March 9b Bulletin. Classification Public debt issues: Interestbearing public debt securities: Nonmarketable bj... interestbearing public debt securities.... Matured debt and debt public debt Government agency issues: Participation certificates 6 /... Government agency securities covered in Nonsurveyed Government Government agency amount outstanding / 48,09 6,67 78, ,648,07 U. S. Government accounts and Federal Reserve banks Table TSO. Summary of Federal Securities 79,63,07 78,844 (Par values in millions of dollars) private investors 68,30 9, ,478 8,70,07,697 commercial banks / 49,0 47 / Held by private investors covered in Treasuiy Survey 490 mutual savings banks / Insurance companies 9 life,88 7 3, fire, casualty, and marine 488 savings and loan associations,763 3, corporations State and local governments 36 general funds,909 8, pension and retirement funds All other private investors / 3, ,08 9, ,098,8 3,39,789 3,394,90 9,037 3,4, ,664 60,478 30,87 49,098,8 3,39,789 3,394,90 9,037 3,4 3,4 3,0 7,66 0,78,7,03 68,990,07 3,89 3,0,67 8,7,490 0,4 Federal securities ,67 6,767 40,40 47, ,07,037,38, ,079 4,36 Footnotes at end of Table TSO6.

74 April Classification By type security: Issued by U.S. Government: Treasury b ills... Treasury notes... Treasury bonds... T R E A S U R Y S U R V E Y O P O W N E R S H I P. F E B R U A R Y 8, iq?i Table TSO. InterestBearing Marketable Public Debt Securities by Type and Maturity Distribution amount outstanding / 89,303 04,83 4,07 U.S. Government accounts and Federal Reserve banks 6,604 4,4,80 (Par values in millions of dollars),697 commercial banks / 9,373 8,88 0,89 Held by investors covered in Treasury Survey 490 mutual savings banks / 0,330,83 Insurance companies 9 life ,6 43 fire, casualty, and marine 90, savings and loan associations 34,498, corporations, State and local governments 36 general funds 4,4,0,37 87 pension and retirement funds 49 74,4 Held by all other investors /... 48,09 79,63 49,0,88 3,08,763 3,38,909 8,99 3,087 9,08 By maturity distribution: Call classes (due or first becoming callable): Within year...,86 3,60 8, ,83, ,066 to years... 8,47 9,39 4,009,8 74,086,76 80, ,77 to 0 years... 8,737 0,38 6, ,76 0 to years..., to 0 years... 0,38, , ,33,934 0 years and over...,, , ,09 79,63 49,0,88 3,08,763 3,38,909 8,99 3,087 9,08 Maturity classes (final maturity): Within year... to years... to 0 years... 0 to years... to 0 years... 0 years and over ,06 7,0 8,707,34 3,3 6, ,474, ,798 86,0 9,384,890, 346,,86,0,970 30,670 7,97 0,4 6, ,499 3, ,0 4,709, , ,7 0,8, ,48 4,69 48,09 79,63 49,0,88 3,08,763 3,38,909 8,99 3,087 9,08 Footnotes at end of Table TSO6. Table TSO3. InterestBearing Marketable Public Debt Securities by Issue (Par values in millions of dollars) Held by investors covered in Treasury Survey Insurance companies U.S. Govern, Issue amount ment ac conmercial savings 43 fire, and loan corpo mutual savings 469 outstanding / Federal banks banks 9 casualty, associarations counts and Reserve tions banks / / life and marine State and local 36 general funds 87 pension and retirement funds Held by all other investors j / Treasurv bills: Regular weekly and annual maturing: Feb , Mar ,98 4,38, ,07 Apr ,64,88, ,00 7 9,733 May 97...,43,40, ,968 June ,08,063, , July ,97, ,09 Aug ,34, ,63 Sept , Oct , Nov , Dec , Jan , Tax anticipation: Mar , ,63 Apr , ,466 June 97..., ,8 Treasuiy bills... 89,303 6,604 9, ,66 4, ,06 Treasurv notes: /4$ May 97A... 4,6, , 8 May 97E... 4,76 736, ,79 Footnotes at end of Table TSO6. (Continued on following page)

75 7 0 T r e a s u r y B u l l e t i n TREASURY SURVEY OP OWNERSHIP, FEBRUARY 8, 97 issue Table TSO3. InterestBearing Marketable Public Debt Securities by Issue (Continued) (Ear values In millions of dollars) U. S. Governamount, outstanding / ment accounts and Federal Reserve banks commercial banks / Held by investors covered in Treasury Survey mutual savings banks / Insurance companies 9 life 43 fire, casualty, and marine 488 savings and loan associations State and local governments JAQ corporations 36 general funds 87 pension and retirement funds Held by a ll other investors / Treasury notes (Continued)! 8/4% Aug. 97F..., /8 Nov. 97B /4 Nov. 97G...,89 3, _,344 43/4 Feb. 97A / Feb. 97C..., ,303 43/4 May 97B...,30, , 63/4 May 97D...,037 36, /4 May 973A...,84,644, ,688 8/8 Aug. 973B..., /4 Feb. 974C... 3,4 88, ,048 7/4 May 974D... 4,07 900, ,7 /8 Aug. 974B... 0,84,0, ,00 3/4 Nov. 974A... 3,98, ,03 3/4 Feb. 97A...,48,666, ,347 6 May 97B... 6,760 4, ,77 7/8 Aug. 97C... 7,68, 3, ,979 6/4 Feb. 976A... 3,739, / May 976B..., / Aug. 976C... 4,94,467, ,308 8 Feb. 977A...,63,807, ,07 73/4 Aug. 977B..., /4 Feb. 978A... 8,383,976, ,3 / Apr. 97EA... 3 _ 6 / Oct. 97E / Apr. 97EA / Oct. 97EO / Apr. 973EA _ 9 / Oct. 973EO _ 4 / Apr. 974EA _ 6 / Oct. 974EO _ 6 / Apr. 97 EA... 8 _ / Oct. 97EO... 0 Treasury notes... 04,83 4,4 8,88, , ,0 74 7,0 Treasury /$ 'bonds; ; Mar / June , / Sept,, , / Dec , ,8 4 Aug , /8 Nov , Feb Aug , Aug ,894 93, ,3 4/8 Nov , , ,44 4/8 Feb ,7 93, /4 May ,80 69, ,98 37/8 Nov , /4 May , /4 June , Feb , / Nov , /4 May 98..., /4 Aug ,808, ,6 4 ' Feb _ /8 May , / Feb ,709, , ,7 3 Feb , / Nov , ,768 Treasury bonds... 4,07,80 0,89,83 3,6,639,4 834,37,4 8,707 marketable public debt securities... 48,09 79,63 49,0,88 3,08,763 3,38,909 8,99 3,087 9,08 Footnotes at end of Table TS06.

76 A p r i l TREASURY SURVEY OP OWNERSHIP, FEBRUARY 8, 97 Table TSO4. InterestBearing Nonmarketable Public Debt Securities by Type Type U.S. Governamount ment accounts and outstanding / Federal Reserve banks (Pax values in millions of dollars),697 commercial banks / Held by investors covered in Treasury Survey 490 mutual savings banks / Insurance companies 9 life 43 fire, casualty, and marine 488 savings and loan associations 469 corporations State and local governments pension general and retirement funds funds Held by all other investors / U.S. savings bonds: k/ Series E... 4,067 4,066 Series H... 7,037 7,034 U.S. savings bonds...,04,0 Other U.S. securities: Certificates of indebtedness:. Foreign Series...,8,8 Foreign Currency Series... 0 _ 0 Treasury certificates Treasury notes: Foreign Series...,47,47 Foreign Currency Series...,6,6 Depositary bonds Treasury bonds: _ Foreign Series Foreign Currency Series R.E.A. Series Investment Series B...,368, Other _ U S retirement plan bonds U.S. savings notes other U.S. securities... 9,3,07 47 / ^ 7,6 nonmarketable public debt securities... 6,67,07 47 / ,36 Footnotes at end of Table TSO6. Table TSO. Securities Issued by Government Agencies Issue amount outstanding / 7/ U.S. Government accounts and Federal Reserve banks (Par values in millions of dollars),697 commercial banks / Held by investors covered in Treasury Survey 490 mutual savings banks / Insurance companies 9 life 43 fire, casualty, and marine 488 savings and loan associations 469 corporations State and local governments 36 general funds 87 pension and retirement funds Held by all other investors ExDortInmort Bank: Shortterm notes...,000 _,000 6.$ Apr. 973 (Debentures) _ 09 Participation certificates..., ,63 _ Federal Housing Administration: (Debentures) Government National Mortgage Association: Participation certificates... 6,430, ,70 Tennessee Valiev Authoritv: Shortterm notes _ _ 84 8$ June 974 (Bonds) /4 June 97 (Bonds) Nov. 98 (Bonds) /8 July 986 (Bonds) / Feb. 987 (Bonds) May 99 (Bonds) _ 3 _ /8 Nov. 99 (Bonds) _ _ 4 8/4 Oct. 994 (Bonds) Mar. 99 (Bonds) _ 86 9/4 June 99 (Bonds)... 0 _ 33..., Government agency securities covered in survey ,78,07, ,079 4,36 Footnotes at end of Table TSO6.

77 7 Treasury Bulletin Issue T R E A S U R Y S U R V E Y O P O W N E R S H I P, F E B R U A R Y 8, ««i Table TSO6. (Memorandum) Securities Issued by GovernmentSponsored Agencies and the District of Columbia amount outstanding U.S. Government accounts and Federal Reserve banks (Far values In millions of dollars),697 commercial banks / Held by investors covered in Treasury Survey 490 mutual savings banks / Insurance companies 9 life 43 fire, casualty, and marine 488 savings and loan associations 469 corporations State and local governments 36 general funds 87 pension and retirement funds Held by all other investors / Banks for cooueratives. 7.0# Apr. 97 (Debentures) 73 8 / _ May 97 (Debentures) _.70 June 97 (Debentures) 37 8 / _ 9 /4 July 97 (Debentures) / Aug. 97 (Debentures) 4 8 / _ Oct. 973 (Debentures) ,,83 8 / ,7 Federal. home loan banks: 7.0% Mar. 97 (Bonds) /4 Apr. 97 (Bonds) _ 83/8 Apr. 97 (Bonds) May 97 (Bonds) May 97 (Bonds) June 97 (Bonds) July. 97 (Bonds) Aug. 97 (Bonds) _ Sept. 97 (Bonds) _ Nov. 97 (Bonds) Feb. 97 (Bonds) Feb. 97 (Bonds) _ 3 8. May 97 (Bonds) _ 3 73/8 Nov. 97 (Bonds) Feb. 973 (Bonds) Aug. 973 (Bonds) Jan. 974 (Bonds) Feb. 974 (Bonds) _ Aug. 974 (Bonds) _ 0 8 Nov. 974 (Bonds) _ Feb. 97 (Bonds) _ May 97 (Bonds) Aug. 97 (Bonds) _ 9 6 _ 8 6/ Nov. 97 (Bonds) _ Feb. 980 (Bonds) Oct. 980 (Bonds) Nov. 97 FHLM3 / (Mtg. Backed Bonds) Nov. 99 FHLMC / (Mtg. Backed Bonds) ,49, ,873 Federal intermediate credit banks: 8.% Mar. 97 (Debentures) 3 8 / _ Apr. 97 (Debentures) / _ 344 7/4 May ' 97 (Debentures) / 79 8 _ _ June 97 (Debentures) 89 8 / _ 7.0 July 97 (Debentures) 43 8 / _ Aug. 97 (Debentures) 94 8 / Sept. 97 (Debentures) 47 8 / _ Oct. 97 (Debentures) / _ Nov. 97 (Debentures) 68 8 / _ Mar. 973 (Debentures) 03 8 / _ 39 73/4 July 973 (Debentures) 0 8 / _.9 July 974 (Debentures) 4 8 / ,04 8 /, ,7 Federal land banks: 4/8% Feb (Bonds) _ Apr. 97 (Bonds) / _ 37 _ 3 _ 3 7 8/ Apr. 97 (Bonds) _ 9 _ 3/ May 97 ( Bonds) July 97 ( Bonds) July 97 ( Bonds) _ 84 6 Oct. 97 (Bonds) Feb. 97 (Bonds) Apr. 97 (Bonds) _ July 97 (Bonds) / /8 Sept. 97 (Bonds) Sept. 97 (Bonds) /8 Oct. 97 (Bonds) _ Jan. 973 (Bonds) / _ 98 9 _ /8 Feb (Bonds) July 973 (Bonds) / _ July 973 (Bonds) _ Oct. 973 (Bonds) / Footnotes at end of table. (Continued on following page)

78 A p r i l Issue T R HAST TRY S U R V E Y O F O W N E R S H IP,F E B R U A R Y 8, 97 Table TSO6. (Memorandum) Securities Issued by GovernmentSponsored Agencies amount outstanding and the District of Columbia (Continued) U.S. Government accounts and Federal Reserve banks (Par values in millions of dollars),697 commercial banks if Held by investors covered in Treasury Survey 490 mutual savings banks / Insurance companies 9 life 43 fire, casualty, and marine 488 savings and loan associations 47 corporations State and local governments pension general and retirement funds funds Held by a ll other investors / Federal land banks (Continued): 4/% Feb. 974 (Bonds) Apr. 974 (Bonds) / /8 Jan. 97 (Bonds) /8 Apr. 97 (Bonds) Feb. 976 (Bonds) /8 July 976 (Bonds) # 9 3 /8 Apr. 978 (Bonds) Jan. 979 (Bonds) / Apr. 98 (Bonds) ,64 8/, ,98 Federal National Morteaee Association: Discount notes, % Mar. 97 (Debentures) Apr. 97 (Debentures) May 97 (Debentures) June 97 (Debentures) # July 97 (Debentures) /8 Aug. 97 (Debentures) /8 Aug. 97 (Debentures) Aug. 97 (Debentures) / Sept. 97 (Debentures) /4 Sept. 97 (Debentures) # Oct. 97 (Debentures) # Nov. 97 (Debentures) /8 Dec. 97 (Debentures) /8 Feb. 97 (Debentures) /4 Mar. 97 (Debentures) Mar. 97 (Debentures) # /8 June 97 (Debentures) June 97 (Debentures) Sept. 97 (Debentures) O Sept. 97 (Debentures) # Dec. 97 (Debentures) Dec. 97 (Debentures) Mar. 973 (Debentures) I Mar. 973 (Debentures) /4 June 973 (Debentures) June 973 (Debentures) Sept. 973 (Debentures). 300 # /4 Dec. 973 (Debentures) # 7 73/4 Mar. 974 (Debentures) June 974 (Debentures) Sept. 974 (Debentures) Sept. 974 (Debentures) Mar. 97 (Debentures) Sept. 97 (Debentures) / Feb. 977 (Debentures) /8 June 977 (Debentures) _ 6 7 7/4 June 98 (Debentures) June 98 (Debentures) # Oct. 973 (Capital Debentures) Apr. 97 (Capital Debentures) # 39 8/8 June 97 (Mtg. Backed Bonds) / Oct. 97 (Mtg. Backed Bonds)... 8/8 Oct. 990 Bonds)... (Mtg. Backed 83/8 June 97 (Mtg. Backed Bonds) District of Columbia: 4.0% Dec (Bonds)... 0, 4, ,03 333, ,377 « / 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 FD9. / Excludes trust departments. 3/ Included with all other investors are those banks, insurance companies savings and loan associations, corporations, and State and local government funds not reporting in the Treasury Survey. Also included are certain Government deposit accounts and Governmentsponsored agencies. kj United States savings bonds, Series E, are reported to the Treasury Survey at maturity value but have been adjusted to current redemption value for use in this table. / Includes $ million depositary bonds held by commercial banks not included in the Treasury Survey. 6/ Includes Export Import Bank and Government National Mortgage Association participation certificates. 7/ Includes matured securities outstanding on which interest has ceased. 8/ Includes securities issued for use as collateral for shortterm borrowings. / Obligations of the Federal Home Loan Mortgage Corporation. The capital stock of the Federal Home Loan Mortgage Corporation is held by the twelve Federal Home Loan Banks. Less than $00,000.

79 74 Treasury Bulletin M A R K E T Q U O T A T I O N S O N T R E A S U R Y S E C U R I T I E S, M A R C H 3, i<»i Current market quotations shown here are overthecounter 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 securities issued by the United States Treasury. Securities issued by Federal agencies and guaranteed by the United States Government are excluded. Table MQ. Treasury Bills Amount outstanding (millions) Issue date 3week 6week 3week 6week $,00.003,00, ,904,90,90,90,900 $,40, ,403,400,399.40, ,40,40,408,40,400.40,400,40,40,40, 4OO,40,60 /7/7 /4/7 //7 /8/7 /4/7 //7 /8/7 //7 3/4/7 3//7 3/8/7 3//7 0/8/70 0//70 0//70 0/9/70 //70 //70 /9/70 /7/70 /3/70 /0/70 /7/70 /4/70 /3/70 /7/7 /4/7 //7 /8/7 /4/7 //7 /8/7 //7 $ $ 3/8/7 3//7 Maturity date 4/8/7 4//7 4//7 4/9/7 /6/7 /3/7 /0/7 /7/7 6/3/7 6/0/7 6/7/7 6/4/7 7//7 7/8/7 7//7 7//7 7/9/7 8//7 8//7 8/9/7 8/6/7 9//7 9/9/7 9/6/7 Bid Bank discount 3.84$ Change from last month +.0$ Amount outstanding (millions) ^ Issue date 9month oneyear 9month oneyear $ $,00,00,0,0,04,0,0,0,0,99,0,00 7/3/70 8/3/70 9/30/70 //70 /30/70 /3/70 //7 3//7 3/3/7 4/30/70 /3/70 6/30/70 7/3/70 8/3/70 9/30/70 0/3/70 /30/70 /3/70 /3/7 /8/7 3/3/7 Maturity date 4/30/7 /3/7 6/30/7 7/3/7 8/3/7 9/30/7 0/3/7 /30/7 /3/7 /3/7 /9/7 3/3/7 +.8 Amount outstanding Maturity +.9 issue aate (millions) date /3/7 $,6,00, Tax anticipation bills 7/3/70 3/30/7J 0//70 4//7 6//7 Bid Bank discount 3.$ Bid Change from last month +.4$ O4 Bank discount Change from last month Table MQ. Treasury Notes (Price decimals are 3nds) Price Yield Price range since first traded / Amount outstanding (millions) Description Bid Change from last month To maturity Change from last month Issue date High Low Price Date Price Date $ 4,6 4,76,7 97,83 799,68,30,037,84,839 3,ia 4,07 0,84 3,98,48 6,760 7,680 3,739,697 4,94,63,63 8, /4$ 8 8/4 3/8 73/4 43/4 7/ 43/4 63/4 73/4 8/8 73/4 7/4 /8 3/4 3/4 6 7/8 6/4 6/ 7/ 8 73/4 6/4 / / / / / / / / / //7A //7E 8//7F //7B //7G //7A //7C //7B //7D //73A 8//73B //74C //74D 8//74B ll/l/74a //7A //7B 8//7C //76A //76B 8//76C //77A 8//77B //78A 0//7E0 4//7EA 0//7E0 4//73EA 0//73E0 4//74Eh IO//74EO 4//7EX 0//7E $ $ //66 0//69 //70 //66 //70 //67 8/7/70 //67 /6/70 0//69 //70 8//70 //70 8//68 //67 //68 //68 //7 //69 //69 0//69 //70 8//70 //7 0//66 4//67 0//67 4//68 0//68 4//70 0// /7/67 /3/70 /3/70 4/7/67 //7 4/0/67 /9/7 3//7 3//7 3//7 3//7 3//7 3/4/7 3//7 3//7 3//7 3//7 3//7 3//7 3//7 3//7 3//7 3//7 3//7 3/3/7 3/3/7 3/3/7 3/3/7 3/3/7 a s 3/3/7 3/3/ # # # /8/69 4/30/69 /9/70 0//69 3/9/70 /9/69 8/7/70 /9/69 /6/70 /4/70 /9/70 8/0/70 0/3/70 /9/69 /9/69 /9/69 /30/70 /7/7 /30/70 /30/70 /4/70 /4/70 8/7/70 /7/7 0/7/66 /0/67 /30/70 /30/70 /30/70 $ $ 8 /9/70 0/30/70 Footnotes at end of Table MQ3.

80 A p r i l M A R K E T Q U O TATIO N S ON TREA SU R Y S E C U R IT IE S, M ARCH 3, 97. Table MQ3. Treasury Bonds (Price decimals are 3nds) Mount outstanding (millions ) Description Bid Price Change from last month To first call or maturity / Yield Change from last month Issue date Price range since first traded / High Low Price Date Price Date #, // %.7% 3//6 0.7 /6/ /9/66,087 37/8 // // /6/ /9/ // //6 0.0 /6/ //69,34 / _ 6// // /6/ /6/60,79 4 _ 8// //6 0.0 /6/ /9/69,9 / 9// /0/ /6/ /6/60,66 / // // /6/ /6/60 3, // // //7 8.3 /9/69 4,344 4/8 _ // // // /9/69 3,7 4/8 // // // /9/69 3,80 4/4 // // // /9/69,39 37/8 // // //8 8.4 /9/69, 4/4 // // // /6/70,39 3/4 6// //3.8 8/4/4 6.0 /6/70,9 4 // /3/ // /9/69,904 3/ // /3/ // /4/70,064 3/4 //8 / /3/ // /6/70 4,698 3/ //90 / /4/ //8 9.0 /6/70 3,807 4/4 _ 8//879 / // /6/ /6/ //8893 / /7/ /6/ /6/70,3 4/8 //8994 / /8/ /8/ /6/70, 3 //9 / // 0. 6/8/ 9.0 /6/70 3,948 3/ //98 / /3/ //6 9.0 /6/70 Beginning April 93, prices are closing bid quotations in the over the counter market. Prices for prior dates are the mean of closing bid and ask quotations. "When issued" prices are included in the history beginning October 94. Dates of highs and lows in case of recurrences are the latest dates. / On callable issues market convention treats the yields to earliest call date as more significant when an issue is selling above par, and to maturity when it is selling at par or below. / Included in the average yield of long term taxable Treasury Bonds as shown under "Average Yields of Long Term Bonds."

81 YIELDS OF T R E A S U R Y SEC U R ITIE S M A R C H 3,97 c \ B a s e d o n Closing B i d Q u o t a t i o n s P E R C E N T ' L E G E N D High coupon issues 7% % and higher X Fixed maturity issues Callable issues plotted to earliest call date when prices are above par and to maturity date when prices are at par or below A!6% issues VA% exchange notes I Bills coupon equivalent 6.0 s > K w H > CJ O o z to o z» M > to c < to M to S > O X s s ft Note: The smooth curve is fitted by eye. Market yields on coupon issues due in less than 3 months are excluded.

82 A p r i l 9 7 AVERAGE YIELDS OF LONG TERM BONDS. 77 Table AY. Average Yields of Treasury, Corporate and Municipal Bonds by Periods Period Treasury bonds / Aa new corporate bonds /. B. A. new Aa municipal bonds / Treasury bonds / Aa new corporate bonds / I. B. A. new Aa municipal bonds J / Treasury bonds / Aa new corporate bonds / Monthly series averages of daily or weekly series I. B. A. new Aa municipal bonds l Treasury bonds / Aa new corporate bonds / I. B. A. new Aa municipal bonds / U ? ij U May July Aug / Oct Feb / Mar May Aug Oct ^/ / n.a# / / U Sept Period Treasury bonds / Aa new corporate bands / I. B. A. new Aa municipal bonds / Period Treasuiy bonds y Aa new corporate bonds / I. B. A. new Aa municipal bonds / Period Treasuiy bonds y Aa new corporate bonds / I. B. X. new Aa municipal bonds / 970: 970: 97: Oct Dec n.a : Nov Jan n.a n.a / n.a n.a n.a. / Treasury bond yields are based on a composite of closing bid quotations in the overthecounter market. Series includes bonds on which / the interest income is subject to normal tax and surtax which are neither due nor callable before 0 years. For bonds currently in series, see Table MQ3. k/ Treasuiy series based on reoffering yields of new corporate bonds 3/ rated Aa by Moody s Investors Service. The series is calculated to reflect bonds with no call protection. Currently years of call n.a. protection is valued at basis points. Index of new issue reoffering yields on Aa 0 year general obligations compiled by Investment Bankers Association of America. Weekly series are not available prior to January 970. One or more new longterm bonds added to the average. An existing bond dropped from the average. Not available.

83 A V E R A G E YIELDS OF LONG T E R M T R E A S U R Y. C O R P O R A TE A N D M U N IC IP A L B O N D S OO % n p T p r p r n riyn'in ti p ijrifi r '( ~i l ii ii ii n tt p T pi p i ( [ T T p T n ri [ p T T r p rp r p r M o r ithly A v e r a g e s A II. / v / S A f y r I / # I > J t J V W > O x/x V / V i t m l / I l s \ i / V Ci lrporate B o n d 'sv / i ijr X I / r r m try B o n d s. r V / N / V ' K / / r J... / V^\ I t f < M r d GG O 3 O 0 3 M 3 W O Z d to / V ~ v V s... I Q.A. N e w A a M u t licipal B o n d s N A / w p & J /' i f w a Illllllllll. lll l Lj ii m Im IiiIii iiiiilnin iiiiilnin Jli.U.ll.l..l Ll iil.ulii l.lj Illllllllll.. im lli.i_n ii Iu Jl l Illllllllll da «8 s S.

84 April E X C H A N G E S T A B I L I Z A T I O N F U N D Table E S F. Balance Sheets as of June 30, 970 and December 3, 970p June 30, 970 December 3, 970p Assets: Cash: With Treasurer of the United States... With Federal Reserve Bank of New York, special account... Imprest fund... $3,396, ,860,367.00,00.00 $00,4, ,860,367.00,00.00 cash... $60,8,496.8 $76,03,7. Special drawing rights... Special account of Secretary of the Treasury with Federal Reserve Bank of New York Gold... Foreign exchange due from foreign banks: / Banque Nationale de Belgique... Bank of Canada... Deutsche Bundesbank... Bank of England... Banca d'italia... Sveriges Riksbank Banque Nationale Suisse... Bank for International Settlements... Investments in: U. S. Government securities Foreign securities... 97,88,497.00,04, , ,686.6,7,639. 8,740, ,777, ,9.77 3, ,870,897.3,400, ,77, ,688, ,3,7. 7, ,686.6,70,738.6,784,6.9 4,0.68 4,9.77 7,7.3 8,497, , ,664,90.66 Prepaid expense Accrued interest receivable U. S. Government securities... Accrued interest receivable SDR Holdings... Accrued interest receivable foreign... 7,69.,39, ,48, , ,6,33.00 Accounts receivable..., ,8.90 Deferred charges... 60, , Furniture and equipment Less allowance for depreciation... 66, , , , ,460. 6, Land and structures.... 0, , assets...,60,833,836.66,78,6,64.7 Liabilities and canital: Accounts payable: Vouchers payable... Miscellaneous... 3,03, ,97,33.80 accounts payable ,03,99. 9,97,78.4 Contractual obligations , , Special deposit accounts... 7,000, ,000, Advance from U. S. Treasury (U. S. drawings on I.M.F.)... Special drawing rights certificates... Deferred liability DM revaluation... Special drawing rights allocations... Capital account... ^... Deduct subscription to International Monetary Fund...,000,000,000.00,800,000, , ,880, ,000,000.00,000,000,000.00,800,000, ,789, ,880, ,000, Net income (see Table ) ,48,66.0 4,797,803.6,60,833,836.66,78,6,64.7 Note: Annual balance sheets for fiscal years 934 through 940 appear in Treasury Bulletin. the 940 Annual Report of the Secretary of the Treasury and those l/ Excludes foreign exchange transactions for future and spot delivery, for succeeding years appear in subsequent reports. Quarterly balance p Preliminary, sheets beginning with December 3, 938, have been published in the

85 80 Treasury Bulletin EXCHANGE STABILIZATION FUND. Table ESF. Income and Expense Clas sification January 3, 934 through June 30, 970 January 3,934 through December 3, 970p Income: Profits on transactions ins Gold and exchange (including profits from Investments... Miscellaneous Interest on: $4,84, ,473,36.9 0,73.7,369, ,379.9 $4,83, ,473,36.9 0,73.7,369, ,44.8 8,908,340 83,06,.49 7, , ,0, ,498, ,374,84.6 Expense: Rent, communications, and utilities.....,68,4.98 3,8,4.3 3,93,.06,0, ,076.40,333, ,47, ,9,43.9 3,97,6.7,64, ,07.30,99,488.9 expense... 7,0, ,77, ,48,66.0 4,797,803.6 p Preliminary.

86 April 97 INTERNATIONAL FINANCIAL STATISTICS 8 The tables in this section are designed to provide data on United States reserve assets and liabilities and other statistics related to the United States balance of payments and international financial position. A number of changes were introduced in the May 967 Bulletin to increase the usefulness of this section. Table IFS shows the reserve assets of the United States, including its gold stock, special drawing rights held in the Special Drawing Account in the International Monetaiy Fund, holdings of convertible foreign currencies, and reserve position in the International Monetaiy Fund. Table IFS brings together the various statistical components of the liabilities which enter into the United States balance of payments calculated on the liquidity basis. The inclusion of the United States reserve position in the International Monetary Fund in Table IFS requires that the foldings of dollars of the Fund be excluded from the data on liabilities to foreigners, in order to avoid double counting. Table IFS3.presents an area breakdown of United States liquid liabilities to official institutions of foreign countries. Table IFS4 shows United States Treasuiy nonmarketable bonds and notes issued to official institutions of foreign countries. Table IFS sets forth the factors which affect the United States position in the International Monetaiy Fund. Table IFS6 presents United States net monetary gold transactions with foreign countries and international and regional organizations. Table IFS. U.S. Reserve Assets (In millions of dollars) End of calendar year or month reserve assets Gold stock / / Treasury Special drawing rights / Convertible foreign currencies lj Reserve position in International Monetary Fund j>/ 4,83,87,78 _, ,40 0,8 0,34,98,04 9,07 9,46 _, ,39 7,804 7,767, ,73 6,947 6,889 _ 6, ,0 6,07,978 99, ,843,96,3 _, ,67,47,388 _ ,40 3,806 6 / 3,733 6 / / 4,88 3,3 3,9 _, ,830,06,98 _, ,70 0,89 0,367 _ 3,8, ,964 7 /,89 0,367,78 7 /, ,487,07 0, ,93 970Mar... 7,30,903,367 90,90,77 Apr... 6,99,90,367 96,8,0 May... 6,6,900, ,360 6,38,889,367 97,3,30 July... 6,06,934, ,44,796,87, ,33 Sept...,7,494,7 99,098,944 Oct...,0,49,7 99 8,83 Nov... 4,89,478, ,8 4,487,07 0, ,93 97Jan... 4,699,040 0,73,468 49,700 4,34,039 0,73,468 37,700 Mar... 4,34 0,963 0,73,443 6,680 / Includes gold sold to the United States by the International Monetary Fund with the right of repurchase, and gold deposited by the International Monetary Fund to mitigate the impact on the U.S. gold stock of foreign purchases for the purpose of making gold subscriptions to the Fund under quota increases. For corresponding liabilities see Table IFS. / Includes gold in Exchange Stabilization Fund, which is not included in Treasury gold figures shown in daily Treasury statement. See "Account of the Treasurer of the United States," Table TUS4. / Includes initial allocation on January, 970, of $867 million and second allocation on January, 97 of #77 million of special drawling rights (SDE) in the Special Drawing Account in the International Monetary Fund, plus or minus transactions in SDR. 4 / Includes holdings of Treasury and Federal Reserve System. ji/ The United States has the right to purchase foreign currencies equivalent to its reserve position inthe Fund automatically if needed. Under appropriate conditions the United States could purchase additional amounts equal to the United States quota. See Table IFS. 6/ Reserve position includes, and gold stock excludes, #9 million gold subscription to the Fund in June 96 for a U.S. quota increase which became effective on February 3., 966. In figures published by the Fund from June 96 through January 966, this gold subscription was included in the U.S. gold stock and excluded from the reserve position. / Includes gain of 67 million resulting from revaluation of the German mark in.october 969, of wfrich $3 million represents gain on German mark holdings at time of revaluation. See also footnotes 3 and 4, Table IFS4.

87 8 Treasury Bulletin.INTERNATIONAL FINANCIAL STATISTICS. T a b l e IFS. U. S. L i q u i d Liabilities to F o r e i g n e r s End of calendar year or month Liabilities to International Monetary Fund arising from Gold deposit / Gold investment J (In millions of dollars) Liabilities to foreign countries Official institutions j / liquid liabilities to all foreigners Shortterm liabilities reported by banks in U. S. Marketable U.S. Gov't bonds and notes u Non marketable convertible U.S. Treasury bonds and notes Banks and other foreigners Shortterm liabilities reported by banks in U. S. Marketable U.S. Gov't bonds and notes y Liabilities to nonmonetary international and regional organizations $J Shortterm liabilities reported by banks in U. S. 6/ 97...,8 / 00 _ 00 n.a. 7,97 n.a. _ n.a.,74 n.a. n.a. 4 n.a ,84 / n.a. 8,66 n.a. n.a.,90 n.a. n.a. n.a , ,0 9, ,68 7,077 4, [0,99A 800 _ 800,078 0, 866 _ 7,9 7,048 43, \, ,088 0, 876 7,98 7,048 0, (, ,830 0, _ 8,7 7,79 6, ,4 \, ,830 0, ,37 7,84 6, ,4 Marketable U.S. Gov't bonds and notes v 96 8/ 963 8/ (4, _ 800,748, ,39 7,9 448,6,0 9 ( 4, ,74, ,39 7,9 448,9,84 9 {6, _ 800 4,387,467, ,4 8,863 3, , [6, ,33,467, ,04 8,863 34,96 808,7 I Q 8/ 8,9 800 _ 800,48 3,4,,079,00 0,6 376, (9, ,44 3,0,,079,06 0, , , ,37 3,066,0,0,478,006 47, / 967 8j /9,904, ,600, ,387 3, [9,779, ,6, ,08 3, /33,7, ,63 4, ,894, \33,9, ,646 4, ,763, / [33,88, ,48, , 8, \33,64, ,48, ,38 8, QAQ ft/ (4,776 /, ,99 /, SJ 8,06 7, \4,900, ,994, ,4 7, , ,066 9, ,79, Jan... 4,846, ,68, ,40 7, Feb... 4,99, ,0 3, ,40 6, Mar... 4,97, ,767 3, ,390, ,36, ,4'4 3, ,7 6, May... 43,6, ,797 3, ,76 6, ,38, ,306 4,( ,386, ,3, ,60, ,43 4, Aug... 44,0, ,6, ,36 4, , oo 7,778 6, ,09 4, Oct... 44, oo 8,3 7, ,700 4,3 6 8l , oo 9,96 9, ,68, Dec... 43, oo 0,066 9, ,79, Jan. p... 43, ,00 9, ,637 0,93 684,038,04 4 Note: Table is based on Treasury Department data and on data reported to the Treasury Department by banks and brokers in the United States. / Data correspond to statistics following in this section and in the 4 / "Capital Movements" section, except for minor rounding differences. Table excludes International Monetary Fund "holdings of dollars," and holdings of U.S. Treasury letters of credit and nonnegotiable, noninterestbearing special U.S. notes held by other international and / regional organizations. The liabilities figures are used by the Department of Commerce in the statistics measuring the balance of 6/ international payments of the United States on the liquidity basis; however, the balanceofpayments statistics include certain adjustments to Treasuiy data prior to 963 and some rounding differences, and may differ because of varying timing in incorporating revisions of Treasury data. The table does not include certain nonliquid liabilities to foreign official institutions which enter into the calculation of the / official reserve transactions balance by the Department of Commerce. / Represents liability on gold deposited by the International Monetaiy 8/ Fund to mitigate the impact on the U.S. gold stock of foreign purchases for the purpose of making gold subscriptions to the Fund under quota increases. / U.S. Government obligations at cost value and funds awaiting invest / ment obtained from proceeds of sales of gold by the International Monetary Fund to the United States to acquire incomeearning assets. Upon termination of investment, the same quantity of gold can be n<a> reacquired by the International Monetary Fund. Includes Bank.for International Settlements and European Fund. Derived by applying reported transactions to benchmark data; breakdown of transactions by type of holder estimated Includes securities issued by corporations and other agencies of the United States Government, which are guaranteed by the United States. Principally the International Bank for Reconstruction and Development and the InterAmerican Development Bank. Includes difference between cost value and face value of securities in IMF gold investment account. Liabilities data reported to the Treasuiy include the face value of these securities, but in this table the cost value of the securities is included under "Gold investment." The difference, which amounted to $9 million as of the end of 970, is included in this column. Includes total foreign holdings of U.S. Government bonds and notes, for which breakdown by type of holder is not available. 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 shown for the preceding date; figures on the second line are comparable to those shown for the following date. Includes #7 million increase in dollar value of foreign currency liabilities resulting from revaluation of the German mark in October 969. Not available. p Preliminary.

88 A p r i l INTERNATIONAL FINANCIAL STATISTICS. T a b l e I F S 3. U. S. L i q u i d Liabilities t o Official I n s t i t u t i o n s o f Foreigir C o u n t r i e s, b y A r e a / (in millions of dollars) End of calendar year or month foreign countries Western Europe / Canada Latin American Republics Asia Africa Other countries 3/ ^,33 8,44,789,08, ,44 9,0,608,38 3, ,37 8,608,8,^97 3, y f 3,600 7,488,89,3k 3, ^3,6 7,488,89,3^ 3, ,646 9,87 996,3 3, li/ (,48 7,009 33,34 3,68 9 ^,48 7,00 3,34 3, 48 4,994 /,860 / 49,68 3, ,066 3,046 66,36 4, Jan...,68 6,9 600,74 3, Feb... 4,0 7, 66,896 3, ,767 7,394 90,094 3, Apr... 4,44 6,94 733,0 3, May... 4,797 7,3 76,066 3, June...,306 8,064 00,09 3, July... 6,60 9,69 7,0 3, Aug... 6,6 9, ,987 3, ,778,7 60,738 3, Oct... 8,3,89 7,767 3, Nov... 9,96 3,4 637,64 3, Dec... 0,066 3,046 66,36 4, Jan p... 0,00 3,70 678,370 4, Data represent shortterm liabilities to the official institutions of Data on the two lines shown for this date differ because of changes / i/ foreign countries, as reported by banks in the United States, and foreign official holdings of marketable and convertible nonmarketable U. S. Government securities with an original maturity of more than one year. Includes Bank for International Settlements and European Fund. / Includes countries in Oceania and Eastern Europe, and Western European dependencies in Latin America. IjJ p in reporting coverage. Figures on the first line are comparable in coverage to those shown for the preceding date; figures on the second line are comparable to those shown for the following date. Includes $7 million increase in dollar value of foreign currency liabilities due to revaluation of the German mark in October 969. Preliminaiy. End of calendar year or month Table IFS4. Nonmarketable U.S. Treasury Bonds and Notes Issued to Official Institutions of Foreign Countries Payable in dollars Belgium Canada Denmark Italy / (in millions of dollars or dollar equivalent) Korea Sweden Taiwan Thailand Payable in foreign currencies Austria Belgium Germany Italy Switzerland _» 00 _ ,0 3k 39 _, , _., , , ,330,69 3, ,638 0, ,8 y,43 3, ,70 y,084 4/ ,63,480 3, , Mar,799,77 3 l,k9 0 00, Apr....,897 l,8 l4 3, ,083 _ 4 _ 4 _ May 3,096,03 3, ,083 4 _ 4 _ June... 3,,48 3, , July... 3,08,4 3,9 9 _ 0 00,083 4 _ 4 _ Aug.... 3,08,4 3, ,083 _ 4. 4 _ Sept... 3,08,4 3, , _ Oct 3,67,484. 3, ,083 _ _ Nov 3,64,48 3, , _ Dec.... 3,63,480 3, , Jan 3,63,480 3, ,083 _ 4 4 _ Feb... 3,63,480 3, ,083 4 _ 4 _ Mar 3,63,480 3, , Note: For further information, see "Public Debt Operations," Tables / PDO8 and 9. / Includes bonds issued to the Government of Canada in connection with 3/ transactions under the Columbia River treaty. Amounts outstanding were $04 million, September 964 through October 96; $74 million, November 96 through October 966;.$l44 million, November 966 through October 967; $4 million, November 967 through October 968; $84 million, November 968 through September 969; $4 million bj October 969' through September 970; and $4 million, October 970 through latest date. Bank for International Settlements Bonds issued to the Government of Italy in connection with military purchases in the.united States. In addition, nonmarketable Treasury notes amounting to $ million equivalent were issued to a group of German commercial banks in June 968. The revaluation of the German mark in October 969 increased the dollar value of these notes by $0 million. See also footnote 7, Table IFS. Includes an increase in dollar value of $84 million resulting from revaluation of the German mark in October 969. See also footnote 7, Table IFS.

89 84 Treasury Bulletin INTERNATIONAL FINANCIAL STATISTICS Table IFS. U.S. Position in the International Monetary Fund (In millions of dollars) Calendar year or month Payments of subscriptions in dollars Transactions affecting IMF holdings of dollars during period U.S. transactions with IMF Net gold sales by IMF l! Transactions in foreign currencies / IMF net income in dollars Transactions by other countries with IMF Purchases of dollars jj Repurchases in dollars change IMF holdings of dollars at end of period U. S. Amount Percent of U. S. quota reserve position in IMF at aid of period hi ,063 6Q0 4, , , ,336,8,997 I ,70 6, ,43 9, ,06 74, ,090 7, , U , / ,33 4, , ,870 7, ,343 68,034,836, ;..., 7 6/ a,99 4, Mar... _ ,83 0, ,60,0 0 0,800 4, ,80 4,30 July... _ ,706,44 Aug ,837,33 Sept / ,6 6,944 Oct ,337 6, ,348 6,8, 3 73,47 4,76 7,93 97Jan... _ ,000 7,700 Feb...,000 7, ,00 7,680 " ' " Notes The initial U.S. quota in the International Monetary Fund was $,70 million. The U.S. quota was increased to $4, million in 99, $,60 million in February 966, and to $6,700 million in December 970. Under the Articles of Agreement, subscription payments equal to the quota have been made percent in gold and 7 percent in dollars. / Represents net Fund sales of gold to acquire U.S. dollars for use in Fund operations. Does not include transactions in gold relating to gold deposit or gold investment (see Table IFS). / Positive figures represent purchases from the Fund of currencies of other members for equivalent amounts of dollars; negative figures represent repurchases of dollars, including dollars derived from charges on purchases and from other net dollar income of the Fund. The United States has a commitment to repurchase within 3 years, but only to the extent that the Fund's holdings of dollars exceed 7 percent of the U.S. quota. Purchases of dollars by other countries reduce the U.S. commitment to repurchase by an equivalent amount. / Beginning January 970, includes dollars obtained by countries other than the United States from sales of gold to the Fund. lj Represents the United States gold tranche position in the Fund (the United States quota minus the Fund's holdings of dollars), which is the amount that the United States could purchase in foreign currencies automatically i f needed. Under appropriate conditions, the United States could purchase additional amounts equal to the United States quota. / Includes $9 million gold subscription to the Fund in June 96 for a U.S. quota increase which became effective on February 3, 966. In figures published by the Fund from June 96 through January 966, this gold subscription was included in the U.S. gold stock and excluded from the reserve position. 6/ Includes $30 million of special drawing rights. Less than $00,000

90 A p r i l 9 7 TNTF.RNATTON AT, FINANCIAL STATTSTTPS Table IFS6. U.S. Net Monetary Gold Transactions with Foreign Countries and International and Regional Organizations (In millions of dollars at $3 per fine troy ounce; negative figures represent net sales by the United States; positive figures, net acquisitions) Calendar year Area and country / Oct. Dec. Jan. Mar. Apr. June July Sept. Oct. Dec. / Western Europe: Denmark Italy Switzerland Turkey United Kingdom Bank for International Settlements Other Western Europe Canada Latin American Republics: Argentina Brazil Colombia... 7 _. Mexico Peru... _ Venezuela.... Other Latin American Republics Asia: Japan Other Asia Africa; Africa Other countries: other countries foreign countries ,03, International and regional organizations / Grand total... 43,009, / U 39 4 / / Includes in 970 total (Oct.Dec. 970) the U.S. payment of $38 million increase in its gold subscription to the IMF and gold sold by the IMF to the United States in mitigation of U.S. sales to other countries making gold payments to the IMF. The country data include, for the same period, gold sales by the United States to various countries in connection with IMF quota payments. Such sales to countries and resales by the IMF totaled $48 million each. / Includes International Monetary Fund gold sales to and purchases from the United States, gold deposits by the IMF (see Table IFS, footnote ) and withdrawal of deposits. The first withdrawal, amounting to $7 million, was made in June 968. Less than $00,000.

91 86 C A P I T A L M O V E M E N T S Treasury Bulletin Background Data relating to capital movements between the United States and foreign countries have been collected since 93, pursuant to Executive Order 660 of January, 93^, Executive Order 0033 of February 8, 9^9 > Treasury regulations promulgated thereunder. Statistics on the principal types of data and the principal countries are published monthly in the,ftreasury Bulletin." Reports are filed with the Federal Reserve Banks by banks, securities brokers and dealers, and nonbanking concerns in the United States. These statistics axe then consolidated, and are published by the Treasury as promptly as possible. The report forms and instructions used in the collection of the statistics have been revised a number of times. The most recent general revision of the report forms became effective with reports as of May 3> 9&3 / The present form of the published presentation of the "Capital Movements" statistics was introduced in the May 969 issue of the "Bulletin." The principal changes were the rearrangement of the tables to bring together in separate sections all the data relevant to the same statistical series; the expansion of the time series on aggregate liabilities and claims reported by banks to show more detailed breakdowns ty type of holder and type of liability and claim; and the presentation of statistics not previously published on the shortterm liquid claims of large nonbanking concerns. Basic definitions The term "foreigner" as used in the Treasury reports covers all institutions and individuals domiciled outside the United States, including United States citizens domiciled abroad, and the foreign branches, subsidiaries and offices of United States banks and business concerns; the central governments, central banks and other official institutions of foreign countries, wherever located; and international and regional organizations, wherever located. The term "foreigner" also includes persons in the United States to the extent that they are known by reporting institutions to be acting on behalf of foreigners. In general, data are reported opposite the foreign country or geographical area in which the foreigner is domiciled, as shown on the records of reporting institutions. For a number of reasons, the geographical breakdown of the reported data may not in all cases reflect the ultimate ownership of the assets. Reporting institutions are not expected to go beyond the addresses shown on their records, and so may not be aware of the country of domicile of the ultimate beneficiary. Furthermore, U.S. liabilities arising from deposits of dollars with foreign banks are reported generally in the Treasury statistics as liabilities to foreign banks, whereas the liability of the foreign bank receiving the deposit may be to foreign official institutions or residents of another country. Data pertaining to branches or agencies of foreign official institutions are reported opposite the country to which the official institution belongs. Data pertaining to international and regional organizations are' reported opposite the appropriate international or regional classification except for the Bank for International Settlements and the European Fund, which are included in the classification "Other Western Europe." "Shortterm" refers to obligations payable on demand or having an original maturity of one year or less. "Longterm" refers to obligations having an original maturity of more than one year, and includes securities having no contractual maturity. Reporting coverage Reports are required from banks, securities brokers and dealers, and nonbanking concerns in the United States, including the branches, agencies, subsidiaries, and other affiliates in the United States of foreign firms. Institutions which have total reportable liabilities, claims or securities transactions below a specified exemption level, based on the average for the report dates during a sixmonth period, including the current report date, are exempt from reporting. Banks file reports monthly covering their shortterm and longterm liabilities to and claims on foreigners; an exemption of $00,000 is applicable to reports in each of these categories. Twice a year they also report their shortterm dollar liabilities to foreigners in countries not shown separately on the monthly report of liabilities. Banks, securities brokers and dealers, and in some instances, nonbanking concerns, report monthly their transactions in securities with foreigners; the applicable exemption level is $00,000. Quarterly reports are filed by exporters, importers, industrial and conmercial concerns, financial institutions other than banks and brokers, and other nonbanking firms if their liabilities or claims cure $00,000 or more. Such firms also report the liquid portion of their claims for each monthend when they have reportable claims of $ million or more. The foreign credit and debit balances of securities brokers and dealers are reported quarterly; the exemption level applicable to these reports is $00,000. Description of statistics Data collected on the Treasury Foreign Exchange Forms are published in the "Treasury Bulletin" in six sections. Each section contains all the data relevant to the same statistical series, with tables showing time series by type and country, and the detailed breakdowns of the latest available data. Section I covers the shortterm and longterm liabilities to foreigners reported by banks in the United States. The data exclude the holdings of dollars of the International Monetary Fund derived from payments of the United States subscription and from the exchange transactions and other operations of the Fund. (Liabilities representing the "gold investment" of the Fund, however, are included.) The data also exclude U.S. Treasury letters of credit, and nonnegotiable, noninterestbearing special notes of the United States held by international and regional organizations. Section II presents the shortterm and longterm claims on foreigners reported by banks in the United States, including claims held for their own account and for the account of their domestic customers. The data exclude convertible foreign currencies held by U.S. monetary authorities. Sections III and IV show respectively the liabilities

92 A p r i l C A P I T A L M O V E M E N T S to, and claims on, foreigners reported by exporters, importers, industrial and commercial firms,financial institutions other than banks and brokers, and other nonbanking concerns in the United States. The data exclude the intercompany accounts of business enterprises in the United States with their own branches and subsidiaries abroad or with their foreign parent companies. (Such transactions are reported by business firms to the Department of Commerce on its direct investment forms ) The data also exclude claims held through United States banks. Separate figures are shown in Section IV for the shortterm liquid claims of large nonbanking concerns in the United States. Section V contains data on transactions in all types of longterm domestic and foreign securities by foreigners reported by banks and brokers in the United States (except nonmarketable U.S. Treasury notes, foreign series, and nonmarketable U.S. Treasury bonds and notes, foreign currency series, which are shown in "International Financial Statistics section, Table IFSU). The data cover new issues of securities, transactions in outstanding issues, and redemptions of securities. They include transactions executed in the United States for the account of foreigners, and transactions executed abroad for the account of reporting institutions and their domestic customers. The data include some transactions which are classified as direct investments in the balance of payments accounts. The data exclude securities issued abroad by foreign subsidiaries of U.S. corporations, some of which are treated in the balance of payments as issues of US. corporations. The geographical breakdown of the data on securities transactions shows the country of domicile of the foreign buyers and sellers of the securities; in the case of outstanding issues, this may differ from the country of the original, issuer. The gross figures contain some offsetting transactions between foreigners. The net figures for total transactions represent transactions by foreigners with United States residents; but the net figures for transactions of individual countries and areas may include some transactions between foreigners of different countries. Beginning with data for 969, transactions between foreigners in new issues not offered for sale to United States residents but managed by underwriters in the United States are excluded from the gross figures. Section VI comprises two tables on the money credit and debit balances, as appearing on the books of reporting brokers and dealers in the United States, in accounts of foreigners with them, and in their accounts carried by foreigners. The data published in these sections do not cover all types of reported capital movements between the United States and foreign countries. The principal exclusions axe the intercompany capital transactions of business enterprises in the United States with their own branches and subsidiaries abroad or with their foreign parent companies, and capital transactions of the United States Government. Consolidated data on all types of capital transactions are published by the Department of Comnerce in its regular reports on the United States balance of payments. / Copies of the reporting forms and instructions may be obtained from the Office of Balance cf Payments Programs, Operations and Statistics, Office of the Assistant Secretary for International Affairs, Treasury Department, Washington, D.C. 00 or from Federal Reserve Banks.

93 88 Treasury Bulletin. C A P I T A L M O V E M E N T S. Section I Liabilities to Foreigners Reported by Banks in the United States Table CMI. ShortTerm Liabilities by Type of Foreign Holder End of calendar year or month shortterm liabilities tin minions or dollars) Foreign countries Official institutions / Banks and other foreigners Payable in dollars Payable in foreign currencies Payable in dollars Baziks Other foreigners Payable in foreign currencies UCliiCIv i+ ia'nal iuiloi culu on/3 regional IMF gold investment / Nonmonetaiy international and regional y ,383 3,64 7,97 7,97,74 3,43, ;...,367 4,6 8,66 8,66,90 3,460, ,6 6,3 9,4 9,4 7,076 4,60,398 77, ,70 7,60 0, 0, 7,047 4,70,30 3,4 69 y 7 96 /... f 0,0 8,699 0,940 0, ,79,99,36 04,37 63 y 704 0,098 8,78 0,940 0, ,84,380,37 04, y 704 f,98 9,907,997, ,9,,64 9,00 800,0,98 9,874,963,9 48 7,9,,64 9, , ,877,330,467, ,863,73 3,046 04, y 808 f,467 3,849 3,4 3,4 _ 0,6 7,3 3,34 8, <,8 3,900 3,0 3,0 0,680 7,3 3,376 90, , 4,07 3,066 3,066,006 7,360 3,376 90, f 7,74 6,343,484, ,89 0,03 3,743 93, \^7,99 6,9,39,0 7 3,680 9,864 3,743 7, t Q r» C / f 30,67 9,370 4,034 3,88,337,3 4,8 77, ^30,0 9,3 4,07 3,876,0,008 4,0 77, ,77 30,34,38 0, ,96 4,98 4,444 73, QAQ <>/ ^40,040 38,63,04 0,8 0 7,77 3,4 3,939 6, \40,64. 38,7,06. 0,83 0 7,696 3,407 4,063 6, ,666 40,449 9,93 9,4 48, 6,893 4,04 0, Feb... 4,438 39,87 3,6 3,03 0 6,66,4 3,89 3, Mar... 4,47 39,87 3,98 3,7 0,94,7 3,964 99, ,807 40,9 3,60 3, ,687,499 3,974 4, Mky... 4,63 40,0 3,986 3, ,4,0 3,987 0, ,78 40,330 4,480 4,33 48,80,64 4,096 90, July... 4,86 40,37,76, ,600 0,433 3,97 96, Aug... 4,349 40,70,776, ,974 0,839 3,946 89, ,74 4,47 6,93 6, , 0,400 3,97 08, Oct... 4,680 4, 7,376 7,7 48 4,36 0,0 3,879 0, ,96 4,788 9,06 9,07 48,83 8,433 3,9 9, Dec... 4,666 40,449 9,93 9,4 48, 6,893 4,04 0, Jan. p... 4,094 40,680 9,77 9, ,93 6,683 4,040 30,44 400,04 Feb. p... 4,406 4,07,8, ,4,9 4,07 60, / Includes Bank for International Settlements and European Fund. Shortterm U.S. Government obligations at cost value and funds awaiting investment obtained from proceeds of sales of gold by the International Monetary Fund to th.e United States to acquire incomeearning assets. Upon termination of investment, the same quantity of gold can be reacquired by the International Monetary Fund. Principally the International Bank for Reconstruction and Development and the InterAmerican Development Bank. Includes difference between cost value and face value of securities in IMF gold investment account ($9 million at end 970). ij In addition, IMF gold investment included investments in U.S. Government bonds and notes which amounted to #09 million at end I960, $87 million at end 96, and $6 million at end 963. / 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 shown for the preceding date; figures on the second line are comparable to those shown for the following date, p Preliminary.

94 A p r i l 9 7 End of calendar year or month foreign countries 3,64 4,6 Demand C A P I T A L M O V E M E N T S. Section I Liabilities to Foreigners Reported by Banks in the United States Table CMI. ShortTerm Liabilities by Type of Liability Part A Foreign Countries Payable in dollars Deposits Time / U.S. Treasuiy bills and certificates Other shortterm liabilities / (In millions of dollars) Payable in foreign currencies Demand Deposits Time / Banks Banks and other foreigners" Payable in dollars U.S. Other Treasury shortterm bills and certificateties liabili / Deposits Demand Other foreigners Time / U.S. Treasury bills and certificates Other shortterm liabilities / Payable in foreign currencies 3,C 9 4,46 6, / , 4, ,07 3 3, / / y / y / ,3 7,60 f 8,699 \8,78 { 9,908 9,874,330 /3,849 \3,900 4,07 / 6,343 \6,9 /9,370 9,3 30,34 38,63 \38,7 40,449,834, , , ,038 6, , , ,389 6,4, , , ,389 6,4, , , ,6 7, , , ,34 7, , , ,40,4 7,48, , , ,9,80 7,4,9 _, ,039,3, ,9,86 7,4,9, ,077,3, ,3,86 7,86,483 4, ,406,74, ,679,6 6,36,36 7 6,79,49 37,84,3, ,679,668 6,36, ,636,43 37,848,3, ,04,46 7,98,380 7,933,4 9,97,693, ,04,48 7,98,378 7,763,4 9,973,693, ,49,899,486, ,374,73 30,6,797,99 86 ' 36 73,98,9 3,844,39 0 6,74, ,68,709, ,99,9 3,844,39 0 6,744, ,64,70, ,69,68 3,34,9 48,360,33 4 3,97,734, Feb.. Mar.. Apr.. May.. June.. July.. Aug... Sept.. Oct. Nov. Dec... 97Jan. p Feb. p ,9 40,0 40,330 40,37 40,70 4,47 4, 4,788 40,449 40,680 4,07,664 3,63,38,70 0,47, ,967,666, ,448 3,4,989, ,70,947,08,767, ,300 3,37 6,03,70 48,47,78 9,,78, ,340 3,46 6,47,66 48,00,9 0,03,70, ,4 3,47 7,00,4 48 4,87,8 6 4,87,770, ,76 3,0 7,946, ,909, ,768,66, ,49 3,6 8,63,3 48 4,43,76 3 4,68,68, ,369 3,440 0,4, ,39, ,34,63, ,444 3,78 0,99, ,9,97 3 4,4,607, ,367,846,967,877 48,747,9 3,743,6, ,69,68 3,34,9 48,360,33 4 3,97,734, ,74,49 3,609,738 48,8,66 9 4,7,689, ,660,47,3, , ,8,670,90!43 36! 60 / Includes Bank for International Settlements and European Fund. / Time deposits exclude negotiable time certificates of deposit, which are included in "Other shortterm liabilities." / Data on the two lines shown for this date differ because of changes in p reporting coverage. Figures on the. first line are comparable in coverage to those shown for the preceding date; figures on the second line are comparable to those shown for the following date, Preliminary.

95 9 0 T r e a s u r y B u l l e t i n. C A P I T A L M O V E M E N T S. Section I Liabilities to Foreigners Reported by Banks in the United States Table CM I. ShortTerm Liabilities by Type of Liability (Continued) Part B International and Regional Organizations End of calendar year or month international and regional IMF gold Nonmonetary international and regional organizations / investment: U.S. Treasury Deposits U.S. Treasury Other bills and certificates / Demand Time i/ bills and certificates shortterm liabilities $/ 967 i/ , , / 9 3,37 63 V f, ^, , / , , , f, [, , , , Feb..., lifer..., Apr..., May..., June..., July..., Aug..., Sept..., Oct..., Nov..., , Jan. p..., Feb...., / Shortterm U.S. Government obligations at cost value, and deposits j/ awaiting investment (less than $00,000 on all dates shown), obtained from proceeds of sales of gold by the International Monetary Fund to ij the United States to acquire incomeearning assets. Upon termination Qf investment, the same quantity of gold can be reacquired by the International Monetary Fund. $] / Principally the International Bank for Reconstruction and Development and the InterAmerican Development Bank; excludes Bank for International Settlements and European Fund. Includes difference between cost value and face value of securities in IMF gold investment account p (#9 million at end 970). Time deposits exclude negotiable time certificates of deposit, which are included in "Other shortterm liabilities." In addition, IMF gold investment included investments in U.S. Government bonds and notes which amounted to #09 million at end I960, #87 million at end 96, and #6 million at end 963. 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 shown for the preceding date; figures on the second line are comparable to those shown for the following date. Preliminary. Less than #00,000.

96 A p r i l C A P I T A L M O V E M E N T S Section I Liabilities to Foreigners Reported by Banks in the United States Table CMI3. ShortTerm Liabilities by Country (Position at end of period in millions of dollars) Calendar year Country / 970 September October November December January p February p EuroDe: Denmark ,330,383,8,8,67,86,3,47,67,34,63,7,640,38,38 7,0,439,977 7,43 7,0 7,79 8,6 Greece , ,37 909,04,6,37,79, ,73,,00,00,947,0,98,94,947,936, ,667 6,33,347,349,08 9,3 7,86 6,69,08,637, ,3, ,94 6,70,667,674,637 4,8 3,694 4,,637 3, ,709,797 3,99 4,0 4,04 3,787 4,9 4,3 4,06 3,64 3,647 Latin America: Chile Peru Venezuela Other Latin American Republics ,40,40 733, Netherlands Antilles and Surinam ,34 4,664,7,636 4,9,300,06,06 4,9 4,866 4,7 Asia: China Mainland India Israel ,6 3,30 3,788 3,809,47 4,49 4,74 4,7,47,66, Philippines ' 7 73 Asia...,4,93 6,396 6,47 7,936 7,0 7,33 7,40 7,936 7,93 8,9 Africa: United Arab Republic (Egypt) Other Africa , Africa Other countries: other countries ,3 30,34 38,63 38,7 40,449 4,47 4, 4,788 40,449 40,680 4,07 International and regional: International...,7,37,7, ,7,086 European regional Latin American regional Asian regional African regional... 4 international and regional.,73,483,409,43,8,7,68,38,8,44.33 Grand total... 30,0 3,77 40,040 40,64 4,666 4,74 4,680 4,96 4,666 4,094 4,406 / Data in the two columns shown for this date differ because of changes column are comparable to those shown for the following date, in reporting coverage. Figures in the first column are comparable in Less than $00,OCX), coverage to those shown for the preceding date; figures in the second p Preliminary.

97 9 T r e a s u r y B u l l e t i n C A P IT A L M O V E M E N T S Section I Liabilities to Foreigners Reported by Banks in the United States Table CMI4. ShortTerm Liabilities, by Type and Country, as of February 8, 97 Preliminary Country shortterm liabilities (Position in millions of dollars) To foreign banks and official institutions Deposits / Shortterm liabilities payable in dollars 0. S. Treasury bills and certificates Other / Deposits / To all other foreigners u. s. Treasuiy bills and certificates Other / Shortterm liabilities payable in foreign currencies Europe: Austria BelgiumLuxembourg Denmark Finland _ France...,63,7 77, Germany... 8,6 8, , Greece Italy...,63,67 46, Netherlands Norway Portugal Spain Sweden Switzerland...,009, Turkey United Kingdom...,09 4,877 3,80 63, Yugoslavia Other Western Europe _ Other Eastern Europe Europe... 3,634,37 7,8,, Canada... 3,647 3,,7""' ""37 " s r E F T I T ay. "3T" fit Latin America: Argentina Brazil l Chile Colombia Cuba Mexico Panama Peru _ Uruguay Venezuela Other Latin American Republics Bahamas and Bermuda Netherlands Antilles and Surinam Other Latin America Latin America... 4,7,,70 68,9, Asia: China Mainland Hong Kong India _ 7 Indonesia _ Israel _ Japan...,449,389,07,986,89 3 Korea _ 4 4 _ Philippines _ Taiwan _ Thailand Other Asia Asia... 8,9 7,74 3,64,78, rica; Congo (Kinshasa) Morocco South Africa United Arab Republic (Egypt) Other Africa Africa Other countries: Australia All other other countries foreign countries... fl4^ orj/ rt^ai^ol 4,07 36,87,,39,96 4,07 3, International...,086, _ European regional _. Latin American regional _ Asian regional African regional... international and regional...,33, Grand total... 4,406 37,9,33 6,8 6,373 " 4,07' rprr "43"" / Deposits exclude negotiable time certificates of deposit, which are included in "Other" shortterm liabilities. Less than $00,000.

98 April C A P I T A L M n v B M P M T a Section I Liabilities to Foreigners Reported by Banks in the United States Table CMI. ShortTerm Liabilities, Countries and Areas Not Regularly Reported Separately (Position at end of period in millions of dollars) Country Calendar year December April December "Other Western Europe" 8 n.a / / V / Malta "Other Eastern Europe" Bulgaria Czechoslovakia n.a. Hungary Poland Soviet Zone of Germany "Other Latin American Republics" Bolivia Dominican Republic Ecuador El Salvador Guatemala Guyana (British Guiana) Haiti Honduras Jamaica Nicaragua Paraguay Trinidad and Tobago "Other Latin America" British Honduras British West Indies French West Indies and French Guiana... "Other Asia" Afghanistan n.a. Bahrain n.a. Burma Cambodia Ceylon Iran Iraq , n.a. Jordan n.a. Kuwait n.a Lebanon Malaysia Muscat and Oman Pakistan Qatar Ityukyu Islands (including Okinawa) / n.a. Saudi Arabia Southern Yemen (Aden and South Arabia) Syria Trucial States Viet Nam "Other Africa" Algeria... _ Ethiopia (including Eritrea) F.T.A.I. (French Somaliland)... Ghana Ivoiy Coast Kenya Liberia Libya Mozambique Nigeria n.a. "Portuguese West Africa" Southern Rhodesia Sudan Tanzania n.a. Tunisia Uganda "Other Countries" New Zealand Note: Data represent a partial breakdown of the amounts shown for the cor / Data exclude $ million resulting from changes in reporting coverage responding dates for the "Other" categories in the regular monthly and classification, series in the "Treasuiy Bulletin." n.a. Not available. / Included with Belgium (see Section I, Table CMI3). Less than $00,000.

99 9 4 T r e a s u r y B u l l e t i n C A P I T A L M O V E M E N T S Section I Liabilities to Foreigners Reported by Banks in the United States Table CMI6. LongTerm Liabilities by Type (In millions of dollars) Payable in dollars End of calendar year or month longterm liabilities / Foreign countries Official institutions Banks Other foreigners International and regional Payable in foreign currencies n.a. n.a. n.a. _ n.a n.a. n.a. n.a. _ n.a n.a. n.a. n.a. _ n.a n.a. n.a. n.a. _ n.a n.a. n.a. n.a. _ n.a n.a. n.a. n.a. _ n.a n.a. n.a. n.a. 4 n.a n.a. n.a. n.a. 06 n.a n.a. n.a. n.a. 3 n.a , A, 46, /..., \,60,863, ,66,389, _ ,490,60, , Feb....,34,469, Mar...,343,4, Apr...,74,49, _ May...,,3, _ June...,8,80, July...,034,08, _,937, _ Sept...,97, Oct..., Nov..., Dec..., Jan.p...., Feb.p..., / Dollarforeign currency breakdown not available prior to 966; amounts coverage to those shown for the preceding date; figures on the reported for earlier dates assumed to have been payable in dollars. second line are comparable to those shown for the following date. / Data on the two lines shown for this date differ because of changes p Preliminary, in reporting coverage. Figures on the first line are comparable in n.a. Not available.

100 A p r i l C A P I T A L M O V E M E N T S Section I Liabilities to Foreigners Reported by Banks in the United States Table CMI7. LongTerm Liabilities by Country Country (Position at end of period in millions of dollars) Calendar year September October November December January p February p Europe: _ # r # _ % Canada Latin Amer<&a: Chile _ # Panama ' Other Latin American Republics Netherlands Antilles and Surinam # Asia: Africa: # # L,89,7, _ Other countries: All other ft,,863,389, , International and,regional: International... European regional _ 0 _ 489 _ Latin American regional Asian regional international and regional Grand total....,60 3,66,489,697,97,837,78,697,86,43 Less than $00,000. p Preliminary.

101 9 6 T r e a s u r y B u l l e t i n C A P I T A L M O V E M E N T S. End of calendar year or month shortterm claims Section II Claims on Foreigners Reported by Banks in the United States Table CMII. ShortTerm Claims by Type Official institutions Loans (In millions of dollars) Payable in dollars Banks Other foreigners Collections outstanding for account of reporting banks and domestic customers Acceptances made for account of foreigners Other shortterm claims Payable in foreign currencies Deposits of reporting banks and domestic customers with foreigners Foreign government obligations and commercial and finance paper 97...,99, ,4,344, ,99,407, ,94 3,3, , jr4,79 4,77, , \ L4,777 4,34, , ,0 4,606, , ,887,344, , ; 4 Q / r7,4 6,80,6 3,374,0,007, ,97 7,333,773,403,0,3, / / Other shortterm claims '7,63 7,8,968 7,66,30,68, ,73 7,43,970 7,67,3,7, ,89 7,399 3,39 6,739,43,367, ^7,83 7,433 3,4 6,739,4,88, / 8,83 8,8 3,37 306,603,8, 3, ,606 8,8 3,0 306,66,8, 3, ,7 8,6 3,6 47,697,,733, /... Jf 9,78 9,063 3,8 6,946,073,94 3, ^9,667 9, 3,78 6.,943,073,0 3, ,774 0,3 3,038 9,709,0,44 3, Feb... 9,78 8,87 3,07 6,94,09,060, Mar... 9,44 8,999 3,90 94,9,074,7 3, Apr... 9,8 9,040 3,6 33,734,047,4 3, May... 9,806 9,308 3,93 3,8,03,3 3, June... 0,00 9,43 3,36 30,93,079,344 3, July... 9,77 9,306 3,9 6,873,063,30 3, Aug... 9,7 9,04,97 78,7,087,34 3, Sept... 9,737 9,7 3,3. 86,936,09,38 3, Oct... 9,83 9,37 3,9 09,897,3,438 3, Nov... 0,073 9,8 3,3 9,894,43,49 3, Dec... 0,774 0,3 3,038 9,709,0,44 3, Jan. p... 0,37 9,80,849 0,6,78,396 3, Feb. p... 0,44 9,909,9 88,78,6,388 3, i n 9 / Data on the two lines shown for this date differ because of changes second line are comparable to those shown for the following date, in reporting coverage. Figures on the first line are comparable in p Preliminaiy. coverage to those shown for the preceding date; figures on the

102 A p r i l 9 7 Country. C A P I T A L M O V E M E N T S. Section II Claims on Foreigners Reported by Banks in the United States Table CMII. ShortTerm Claims by Country (Position at end of period in millions of dollars) Calendar year / 970 September October November December January p February p Austria... BelgiumLuxembourg... Denmark... Finland... France. '... Germany Greece... Italy... Netherlands... Norway... Portugal... Spain... Sweden... Switzerland... Turkey... United Kingdom... Yugoslavia... Other Western Europe... U.S.S.R... Other Eastern Europe... Europe... Canada... Latin America: Argentina... Brazil.... Chile... Colombia... Cuba... Mexico... Panama Peru... Uruguay... Venezuela... Other Latin American Republics... Bahamas and Bermuda... Netherlands Antilles and Surinam. Other Latin America... Latin America Asia: China Mainland... Hong Kong... India... Indonesia... Israel... Japan... Korea Philippines... Taiwan Thailand... Other Asia... Asia... Africa: Congo (Kinshasa).... Morocco... South Africa... United Arab Republic (Egypt)... Other Africa.... Africa... Other countries: Australia... All other... other countries... foreign countries... International and regional...:... Grand total , , , ,606 8, Cf 9, , , ,70 8, , , , , ,76 9, , , , ,664 9, ,448., , , , , _ , , , ,73 9, J j A Z L , , , ,83 9, I , , , ,07 0, i 44&, , , , , I ,4 3, ,67 3, ,8 4, J ^ L 0, , / Data in the two columns shown for this date d iffer because of changes in reporting coverage. Figures in the firs t column are comparable in coverage to those shown for the preceding date; figures in the second column are comparable to those shown for the following date. Less than $00,000. p Preliminary.

103 9 8 T r e a s u r y B u l l e t i n f i A P T T A T. M f t V R M E N T S Country Section II Claims on Foreigners Reported by Banks in the United States Table CMII3. ShortTerm Claims, by Type and Country, as of February 8, 97 Preliminary (Position in millions of dollars) short term claims Shortterm claims payable in dollars Loans Foreign banks and official institutions Other Collections outstanding for account of reporting banks and domestic customers Accept ances made for account of foreigners Other Shortterm claims payable in foreign currencies Deposits of reporting banks and domestic customers with foreigners Foreign government obligations and commercial and finance paper Other Euroge: Austria Denmark Finland Germany Italy Netherlands Spain Sweden Switzerland Turkey United Kingdom Yugoslavia Other Western Europe ,6 Other Eastern Europe Tbtal Europe...,6, " Latin America: Brazil Chile Cuba Mexico 'Panama Peru Venezuela Other Latin American Republics Bahamas and Bermuda Netherlands Antilles and Surinam Other Latin America Latin America... 3,7 3,U0, Asia: Hong Kong India... 3 Indonesia Israel Japan... 3,478 3, ,69, Korea Philippines Taiwan Other Asia ,437 4, ,407, Africa: Congo (Kinshasa) Morocco South Africa United Arab Republic (Egypt) Other Africa Africa Other countries: Australia All other other countries foreign countries... 0,443 9,907,90,66,,388 3, International and regional... Grand total... 0,44 9,909,9,666,6,388 3, Ill 9 Less than $00,000.

104 A p r i l C A P I T A L M O V E M E N T S Section II Claims on Foreigners Reported by Banks in the United States Table CMII4. LongTerm Claims by Type (in millions of dollars) End of calendar year or month longterm claims Payable in dollars Official institutions Loans Banks Other foreigners Other longterm claims Payable in foreign currencies 97...,74 n.a. n.a. n.a. n.a. n.a. n.a. n.a ,36 n.a. n.a. n.a. n.a. n.a. n.a. n.a ,4 n.a. n.a. n.a. n.a. n.a. n.a. n.a ,698 n.a. n.a. n.a. n.a. n.a. n.a. n.a ,034 n.a. n.a. n.a. n.a. n.a. n.a. n.a ,60 n.a. n.a. n.a. n.a. n.a. n.a. n.a. 963May /... /,93,93, ,38 33 #,379,379, ,34 33 /,837,834, /..., /... 3,030 3,08, ,68 7 J 3,97 3,97 3, ,37 9 4)8 4,83 3, , ,7 4,08 4, , ,80 4,6 3,9 70, ,9 3,909 3, , ,67 3, 3,8 8 37, ,0 3,3, , ,067 3,04, , Feb... 3,l6l 3,9, , ,6 3,9,796 9, ,48 3,6,8 08 0, ,3 3,0,8, ,6 3,38, , , 3,086, , Aug... 3,8 3,090,707 48, ,4 3,, , ,6 3,86,87 8 6, ,99 3,7, , ,0b7 3,04, ,97 3,93,98, , ,947,9, , / Data on the two lines shown for this date differ because of changes line are comparable to those shown for the following date, in reporting coverage. Figures on the first line are comparable in n.a. Not available. coverage to those shown for the preceding date; figures on the second p Preliminaiy. Less than $00,000.

105 l o o T r e a s u r y B u l l e t i n C A P I T A L M O V E M E N T S Section II Claims on Foreigners Reported by Banks in the United States Table CMII. LongTerm Claims by Country (Position at end of period in millions of dollars) Calendar year Country September October November December January p February p Barone: BelgiumLuxembourg Greece H b Portugal Spfli nt ll # # Q Canada l Latin America: l4l Chile Panama , Other Latin American Republics Netherlands Antilles and Surinam. l4 l ,6,37,39,38,3^,39,34,38,7,48 Asia: # l Taiwan Africa: Other countries: l ,9 3,6 3,48 3,066 3,4 3, 3,98 3,066,9 T ,9 3,67 3,0 3,067 3,4 3,6 3,99 3,067,93,947 Less than $00,000. P Preliminary.

106 A p r i l n A P T T A T, M O V R M B N T S Section Claims on Foreigners Reported by Banks in the United States Table CM II6. LongTerm Claims, by Type and Country, as of February 8, 97 Preliminary (Position in millions of dollars) Country Longterm claims payable in dollars longterm claims Loans Other Longterm claims payable in foreign currencies Europej Denmark... r.. r Canada Latin America: Chile ,48,9, Asia; China Mainland Africa: Congo (Kinshasa)... Morocco Other countries: other countries Less than $00, ,90, ,946,9,6 96 6

107 0 T r e a s u r y B u l l e t i n. C A P I T A L M O V E M E N T S. Section III Liabilities to Foreigners Reported by Nonbanking Concerns in the United States Table C M III. Liabilities by Type (In millions of dollars) End of calendar year or quarterend month / liabilities Shortterm liabilities Payable in dollars Payable in foreign currencies Longterm liabilities /... 96Mar. /... June /... f 74 ^ 96 f 674 \ J f ^ S ) 89 9 Dec June /... f 778 ^ ^ 4J Dec. /... f 798 ^ \ 30 J June /... ( 763 ^ ) J Dec / f 36 I ^ ,49, /... A, 784,37, \l,8l,386, ,737,608, 38,9 969Sept... 3,,797,40 346,48 Dec. / /... ^3,,786, ,7 \ 4,66,07,69 446,9 970Mar... 4,43,79, , June... 4,834,39,803 6,06 Sept...,99,43,98,746 amount to $ million or less for any year are not shown; in such cases, only the figure comparable to that for the following date is shown. / Data are shown for calendar year ends and for the most recent five quarter ends for which figures are available. Data are also shown for earlier quarter ends when the reporting coverage changed. / 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 shown for the preceding date; figures on the second line are comparable to those shown for the following date. y Data x the second line include amounts reported by firms reporting for the first time as a result of a canvass of nonbanking business concerns in the United States.

108 April 97 C A P I T A L M O V E M E N T S Section III Liabilities to Foreigners Repor t e d b y No n b a n k i n g Concerns in the United States Table CMIII. Short Term Liabilities b y Country (Position at end of period in millions of dollars) Country Calendar year / 968 September December / / March June September Egrope: Turkey L X l l i, m _ ii.il.0,304 _,48.3 Canada Latin America: Chile ll Other Latin American Republics Netherlands Antilles and Surinam Asia: l l l Indonesia l Africa: United Arab Republic (Egypt) Other countries: ,089,370,386,608,797,786,07,78,39,4 Grand total....,089,37,386,608,797,786,07,79,39,43 / Data in the two columns shown for this date differ because of changes in reporting coverage. Figures in the first column are comparable in coverage to those shown for the preceding date; figures in the second column are comparable to those shown for the following date. / Data in the second column include amounts reported by firms reporting for the first time as a result of a canvass of nonbanking business concerns in the United States. / Through December 967, Luxembourg included in "Other Western Europe." Less than $00,000.

109 0 4 _ C A P I T A L M O V E M E N T S Section III Liabilities to Foreigners Reported by Nonbanking Concerns in the United States Table CMIII3. ShortTerm Liabilities, by Type and Country, as of September 30, 970 Final (Position in millions of dollars) T r e a s u r y B u l l e t i n Country shortterm liabilities Payable in dollars Payable in foreign currencies Europe: Turkey ,3,46 38 Canada Latin America: Chile Panama Other Latin American Republics Bahamas Bermuda Netherlands Antilles and Surinam Asia: 8 7 India Africa: Other countries: % Grand total ,4,98,43,98 Less than $00,000.

110 A p r i l 9 7 C A P I T A L M O V E M E N T S Section III Liabilities to Foreigners Reported by Nonbanking Concerns in the United States Table CMIII4. LongTerm Liabilities by Country (Position at end of period in millions of dollars). Country Calendar year / 968 September December / / March June September Europe: k _ ihk ,04,96,8,996,060,307, hi 0 h 7 Latin America: Chile _ ih Other Latin American Republics... Bahamas and Bermuda r 8 94 Netherlands Antilles and Surinam Asia: 7 # h 8 30 Africa: 6 6 Other countries: , 44 48,9,48,7,9,,06,746 International and Regional...;... Grand total ,9,48,7,9,,06,746 / Data in the two columns shown for this date differ because of changes for the first time as a result of a canvass of nonbaiiking business in reporting coverage. Figures in the first column are comparable in concerns in the United States. coverage to those shown for the preceding date; figures in the second / Through December 967, Luxembourg included in "Other Western Europe." column are comparable to those shown for the following date. Less than $00,000. / Data in the second column include amounts reported by firms reporting

111 06 Treasury Bulletin C A P IT A L M O V E M E N T S End of calendar year or quarterend month / Section IV Claims on Foreigners Reported by Nonbanking Concerns in the United States claims Table CM IV. Claims by Type (In millions of dollars) Payable in dollars Shortterm claims Payable in foreign currencies Deposits with banks abroad in reporter's, own name Other shortterm claims payable in foreign currencies Longterm claims , /... f,77 ^,89,43, March /... f,633 \,70,48, June /.... f,89,496,8,8, September /... f,099 V,7,646,664,33, J 43 December...,38,636, June /... f M3 ^,678,807,974,47, December /... f,809 ^,867,0,098,6, March /... f,99 <,979,3,6,7, J 86 June /.... f 3,04S\ \ 3,64J,8, f 66 \$8 December /... f,84,9,3,88,739, f 3,97 V 3,4,48,430,000, J 8 December /... f 3,738 ^ 3,934,776,83,306, ,08 96 /... f 3,6 ^ 3,438,397,99,000, ,69, ,884,68, 67 36,6 967 /... f 4,483 ^ 4,8,946 3,0,9, ,37, ,7 3,783 3, , September...,839 3,874 3, ,96 December / / f,9 V M 3,70 4,9 3,4 3,00 970March... 6,947 4,34 3, ,,33,74 June... 7,084 4,37 3, ,77 September... 7,09 4,3 3, ,86 Note: Breaks in series arising from changes in reporting coverage which / amount to $ million or less for any year are not shown; in such cases, only the figure comparable to that for the following date is shown. / Data are shown for calendar year ends and for the most recent five / quarter ends for which figures are available. Data are also shown for earlier quarter ends when the reporting coverage changed. 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 shown for the preceding date; figures on the second line are comparable to those shown for the following date. Data in the second line include amounts reported by firms reporting for the first time as a result of a canvass of nonbanking business concerns in the United States.

112 A p r i l C A P I T A L M O V E M E N T S Section IV Claims on Foreigners Reported by Nonbanking Concerns in the United States Table CM IV. ShortTerm Claims by Country (Position at end of period in millions of dollars) Country Calendar year Europe; / 968 September December / / March June September r ,, ,98,08, ,09,369,449,039,03,73,909,,00,93 Canada , _ Latin America: r 6 6l Chile l l4l 49 Panama Other Latin American Republics Netherlands Antilles and Surinam _ Asia: l 4 Indonesia Africa: Other.countries: other countries... ft, ,,? ,78 3,873 3,709 ^ 9 4,33 4,3 4,,68,946 3,0 3,783 3,874 3,70 4,9 4,34 4,37 4,3 / Data in the two columns shown for this date differ because of changes in reporting coverage. Figures in the first column are comparable in coverage to those shown for the preceding date; figures in the second column are comparable to those shown for the following date. / Data in the second column include amounts reported by firms reporting for the first time as a result of a canvass of nonbanking business concerns in the United States. / Through December 967, Luxembourg included in "Other Western Europe. Less than $00,000.

113 0 8 T r e a s u r y B u l l e t i n C A P I T A L l i f t W M B M T a Section IV Claims on Foreigners Reported by Nonbanking Concerns in the United States Table CM IV3. ShortTerm Claims, by Type and Country, as of September 30, 970 Final (Position in millions of dollars) Country shortterm claims Payable in dollars Payable in foreign currencies Deposits with banks abroad in reporter s own name Other shortterm claims payable in foreign currencies Europe: , ,93, Latin America: Chile Other Latin American Republics Netherlands Antilles and Surinam Asia: Hong Kong Philippines Asia Africa: Other countries: International and regional , 3, Grand total... 4,3 3, Less than $00,000.

114 April C A P I T A L M O V E M E N T S, Section IV Claims on Foreigners Reported by Nonbanking Concerns in the United'States Table CMIV4. ShortTerm Liquid Claims Reported by Large Nonbanking Concerns by Type (in millions of dollars) End of calendar year or month shortterm liquid claims Payable in dollars Payable in foreign currencies Deposits Deposits Shortterm Demand Time investments / Demand Time Shortterm investments / ,436, f \ m f, ^, ,638,306 8, /... f,38, [ l,44r l,l8r, l,066r 774r 64r Jan... l,80r,36r,7r 83 l4b 76 Feb... l,73r l,349r,7r Mar... l,44r l,33r l,047r l,438r l,30r l,03r May... l,46r l,4r l,03r June... l,476r,r l,04r July... l,43r l,9r l,009r Aug...,76r l,03r 868r l,37r l,07r 889r Oct... l,4r,9r 94r Nov... l,488r l,46r 976r Dec... l,066r 774r 64r Jan..., Note: Data represent the liquid assets abroad of large nonbanking concerns from the date on which the obligation was incurred by the foreigner. in the United States. They are a portion of the total claims on foreigners reported by nonbanking concerns in the United States and are included in the figures shown in Tables CMIV through CMIV3. / Negotiable and other readily transferable foreign obligations payable / 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 shown for the preceding date; figures on the second line are comparable to those shown for the following date, on demand or having a contractual maturity of not more than one year r Revised. Table CMIV. ShortTerm Liquid Claims Reported by Large Nonbanking Concerns by Country (Position at end of period in millions of dollars) Calendar year Country / 970 August September October November December January BelgiumLuxembourg / France Germany Italy Netherlands Switzerland United Kingdom Canada Bahamas and Bermuda r 77r 8r r 3r 7r 77r 40 Japan All other countries / 3/ ,63,638,38 l,44r,066r l,76r,37r l,4r l,488r l,066r,7 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 by nonbanking concerns in the United States and are included in the figures shown in Tables CMIV through CMIV3. / Data in the two columns shown for this date differ because of changes in reporting coverage. Figures in the first column are comparable in coverage to those shown for the preceding date; figures in the second column are comparable to those shown for the following date. / Through December 967, Luxembourg included in "All other countries." 3/ Includes the liquid claims of $00 thousand or more held by reporting concerns in any country not listed above, r Revised.

115 0 T r e a s u r y B u l l e t i n C A P I T A L M O V E M E N T S. Section IV Claims on Foreigners Reported by Nonbanking Concerns in the United States Table CMIV6. ShortTerm Liquid Claims Reported by Large Nonbanking Concerns, by Type and Country, as o f January 3, 97 (Position in millions of dollars) Country shortterm liquid claims Payable in dollars Deposits Shortterm investments / Payable in foreign currencies Deposits Shortterm investments / Belgium Luxembourg France _ Germany Italy Netherlands _ Switzerland... 3 United Kingdom Canada Bahamas and Bermuda _ Japan All other countries / , 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 by nonbanking concerns in the United States and are included in the figures shown in Tables CMIV through CMIV3. / 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 incurred by the foreigner. / Includes the liquid claims of $00 thousand or more held by reporting concerns in any country not listed above. Less than $00,000.

116 A p r i l 9 7 i l l f i APITAI. M OVEM ENTS Section IV Claims on Foreigners Reported by Nonbanking Concerns in the United States Table CMIV7. LongTerm Claims by Country (Position at end of period in millions of dollars) Country Calendar year / 968 September December jl/ / March June September Turkey Latin America: ~ Chile Panama Peru Other Latin American Republics Bahamas and Bermuda Netherlands Antilles and Surinam. Other Latin America Asia: _ India Thailand Africa: _ 4 3 United Arab Republic (Egypt) Other countries: All other A.,6,37,70,790,96,,33,74,77,86 International_and regional...;... Grand total...» «««««...,6,37,70,790,96,,33,74,77,86 to v\ / Data in the two columns shown for this date differ because of changes / Data in the second column include amounts reported by firms reportin reporting coverage. Figures in the first column are comparable in ing for the first time as a result of a canvass of nonbanking coverage to those shown for the preceding date; figures in the second business concerns in the United States. column are comparable to those shown for the following date. y Through December 967, Luxembourg included in "Other Western Europe." Less than $00,000.

117 T r e a s u r y B u l l e t i n Calendar year or month C A P I T A L M O V E M E N T S Section V Transactions in LongTerm Securities by Foreigners Reported by Banks and Brokers in the United States Table CMV. Foreign Purchases and Sales o f LongTerm Domestic Securities by Type (in millions of dollars; negative figures indicate net sales by foreigners or a net outflow of capital from the United States) Marketable U.S. Government bonds and notes Net foreign purchases Foreign countries Official institutions Other foreigners International and regional Gross foreign purchases Gross foreign sales Net foreign purchases of corporate and other securities Net foreign purchases Corporate and other securities Bonds / Gross foreign purchases Gross foreign sales Stocks Net Gross foreign foreign purchases purchases Gross foreign sales ,, ,397, lf 6, ,,86 I k,730, ,977, ,7^, ,067, ,780, ,60, ,867, ,7, ,9, ,076 3, ,077, ,70, k ,96 678,0,3 U 333 l,7l0, U ,070 33,3, ,033 7, U l6l 3 93 k, 3k,96,6,8,70 3,8 0, k 8 3,68,9 3,07,83,87,9 0, ill ,68 94,489,4 63 8,97 8, Feb l Mar # l Apr May l6l June k lk July Aug lk 38 8 id 36 3 Sept Oct ll in , Jan. p Feb. p ,38,70 / Data include transactions in issues ofstates and municipalities, and not guaranteed by the United States, of corporations and other agencies of the. U.S. Government which are p Preliminary. Less than $00,000. Table CMV. Foreign Purchases and Sales o f LongTerm Foreign Securities by Type Calendar year or month (in millions of dollars; nagative figures indicate net sales by foreigners or a net outflow of capital from the United States) Net foreign purchases of foreign securities Net foreign purchases Foreign bonds Gross foreign purchases Gross foreign sales Net foreign purchases Foreign stocks Gross foreign purchases Gross foreign sales 98,...,363,06 889, l , i , I60 80, ,08 9ll,093, ,0,09 99, , ,,98, k,778, ,30,63,0l 3, , ,69,380,306 3,686 3,, ,,06,,78 7,9, ,487,40 38, Feb Mar Apr ll3 86 l 80 id May June k 60 July Aug ll Sept ll Oct Dec... 3 iko Jan. p Feb. p p Preliminary.

118 April 97 3 f! A P T T A T. M O V?. M F. N T S Section V Transactions in LongTerm Securities by Foreigners Reported by'banks and Brokers in the United States Table CMV3. Net Foreign Transactions in Marketable U.S. Government Bonds and Notes by Country (In millions of dollars; negative figures indicate net sales by foreigners or a net outflow of capital from the United States) Country Calendar year September October November December January p February p Europe: _ 6 _ 8 3 # 3 # 8 _ Turkey # _ ??.. 3 U Canada # Latin America:. Chile... # # # _ _ Other Latin'American Republics... Netherlands Antilles and Surinam. 6 3 # _ 4 Asia:.. _ # 0 0 _ # # # 3 0 _ Africa: United Arab Republic (Egypt)... _ _ Other countries: # # " International and regional: International Latin American regional Asian regional... _ international and regional. 6 7 Grand total k / Through 967, Luxembourg included in "Other Western Europe. p Preliminary. Less than $00,000.

119 4 T r e a s u r y B u l l e t i n C A P I T A L M O V E M E N T S Section V Transactions in LongTerm Securities by Foreigners Reported by Banks and Brokers in the United States Table CMV4. Estimated Foreign Holdings of Marketable U.S. Government Bonds and Notes by Country (Position at end of period in millions of dollars) Calendar year Country / September October November December January p February p Europe: Latin America: 3 3 # l # # 9 6 # # l kt kl ki kk _ M l. 7l S T # Chile... # # _ Panama # # Other Latin American Republics... l 4 4 Netherlands Antilles and Surinam. 6 # Asia: k l India Israel l # Africa: _ United Arab Republic (Egypt)... 9 ll Africa... 9 ll Cither countries: other countries... # foreign countries... l,k66, ,08,03 International and regional: Int ernational Latin American regional Asian regional... international and regional Grand total...,670, ,008, ,008,0.,07 Note: Data represent estimated official and private holdings of market The difference between the two series is believed to arise from errors able U.S. Government securities with an original maturity of more in reporting during the period between the two benchmark surveys, from than one year. Data shown as of end year 967 through end year 968 shifts in ownership not involving purchases or sales through U.S. banks (first column) are based on July 3, 9^3 benchmark survey of hold and brokers, and from physical transfers of securities to and from ings and the regular monthly reports of securities transactions abroad. It is not possible to reconcile the two series or to revise (see Table CMV3). Data shown for end year 968 (second column) figures for earlier dates, through latest date are based on a benchmark survey as of November 30, / see Note above. 968, and the monthly transactions reports. For statistical p Preliminary, convenience, the new series is introduced as of December 3 > 968, Less than $00,000. rather than as of the survey date.

120 April 97 CAPITAL M O V E M E N T S Section V Transactions in LongTerm Securities by Foreigners Reported by Banks and Brokers in the United States Table CMV. Net Foreign Transactions in LongTerm Domestic Bonds, Other than U.S. Government Bonds and Notes, by Country (in millions of dollars; negative figures indicate net sales by~ foreigners or a net outflow of capital from the United States) Calendar year Country September October November December January p February p Europe; ll 4 _ _ l 3 # Turkey... # # 3 7 _ 43, l Latin America: _ Chile... «_ Panama Other Latin American Republics Netherlands Antilles and Surinam Asia: _ 8 8 # Africa: # United Arab Republic (Egypt) Other countries: Ik l , International and regional: International international and regional Grand total... i 964 _ SQ 37 Note: Data include transactions in issues of states and municipalities, / Through 967, Luxembourg included in "Other Western Europe." and of corporations and other agencies of the U.S. Government which are p Preliminary, not guaranteed by the United States. Less than $00,000. lt\ «0

121 6 T r e a s u r y B u l l e t i n CAPITAL M O VEM EN TS Section V Transactions in LongTerm Securities by Foreigners Reported by Banks and Brokers in the United States Table CMV6. Net Foreign Transactions in Domestic Stocks by Country (In millions of dollars; negative figures indicate net sales by foreigners or a net outflow of capital from the United States) Country Calendar year September October November December January p February p Europe: # # # n o # ,9, T ~34 Latin America: Chile... 4 # 3 # _ 6 9 Panama Other Latin American Republics Netherlands Antilles and Surinam Asia: # # Thailand Africa: Other countries: # 6 _ ,7, International and regional: International international and regional Grand total... 77,70, / Through 967, Luxembourg included in "Other Western Europe. p Preliminary. Less than $00,000.

122 A p r i l 9 7 C A P I T A L M n V R M l W T S, Section V Transactions in LongTerm Securities by Foreigners Reported by' Banks and Brokers in the United States Table CMV7. Net Foreign Transactions in LongTerm Foreign Bonds by Country (In millions of dollars; negative figures indicate net sales by foreigners or a net outflow of capital from the United States) Country Calendar year September October November December January p February p 7 EuroDe: # _ Turkey _ ~ " Latin Americas Chile Panama # 6 Other Latin American Republics # Netherlands Antilles and Surinam. 0 7 l _ Asia: India _ l6l _ l # _ 6 l Africa: _ # Other countries: All other ,04,093 > International and regional: International European regional Latin American regional international and regional Grand total...,63,380, OA CM 3 / Through 967, Luxembourg included in "Other Western Europe." p Preliminary. Less than $00,000.

123 8 T r e a s u r y B u l l e t i n C A P I T A L M O V E M E N T S Section V Transactions in LongTerm Securities by Foreigners Reported by Banks and Brokers in the United States Table CMV8. 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) Country Calendar year 9^ September October November December January p February p Europe: Denmark..... _ b Europe " Latin America: 4 l Chile... _. _ 3 4 Panama _ 6 3 Other Latin American Republics Netherlands Antilles and Surinam. 3 Asia: _. 3 8 India... _ _ 6 3 Asia Africa: _ 4 United Arab Republic (Egypt)... 3 Other countries: 6 3 _ International and regional: International... international and regional. Grand total i / Through 967, Luxembourg included in "Other Western Europe. p Preliminary. Less than $00,000.

124 April 97 U 9 Europe: Country CAPITAL M OVEM ENTS Section V Transactions in LongTerm Securities by Foreigners Reported by Banks and Brokers in the United States Table CMV9. Foreign Purchases and Sales of LongTerm Securities, by Type and Country, During February 97 Preliminary (In millions of dollars) Gross purchases by foreigners Gross sales by foreigners Domestic securities Foreign securities Domestic securities Foreign securities Marketable Corporate and Marketable Corporate and U.S. Government bonds Bonds Stocks sales ment bonds Bonds Stocks other U.S. Govern other purchases and notes Bonds Stocks and notes Bonds Stocks Ti _ _ X X 9 7 X X _ 3 x X _ x _ X X _ Other Eastern Europe... x X _ Latin America:, , x X _ X X X X _ Chile... _ X X X _ 8 _ 6 0 _ _ X 6 _ X X X _ X X X _ X X 7 _ 4. _ X 4 Other Latin American Republics... _ X Bahamas and Bermuda X Netherlands Antilles and Surinam _ _ 7 40 X Other Latin America... _ x X _ X _ Latin America X Asia: 3 6 X 3 X India... X X Indonesia... x X _ Israel x X 8 _ X 7 X Japan X 4 Korea... Philippines... X X Taiwan... _ x _ X X X _ Thailand... X _ x X X _ X X _ 8 6 X 7 X 6 X Asia Africa: Congo (Kinshasa)... x X X Morocco r _ x _ X South Africa... _ X _ United Arab Republic (Egypt)... Other Africa X X X _ X _ X Africa... X «X X Other countries: Australia... _ X 3 X X X All other... other countries... 3 X 3 X foreign countries..., ,36 67,664." ST "TTBff '6" 63 International and regional: International X 69 _ 49 7 _ European regional... X _ x X Latin American regional _ 3 3 _ Asian regional... international and regional , , , , Less than $00, (XX).

125 0 Country Eurone: Austria.... BelgiumLuxembourg... Denmark... Finland... France... Germany... Greece... Italy... Netherlands... Norway... Portugal... Spain... Sweden... Switzerland... Turkey... United Kingdom... Yugoslavia... Other Western Europe. U.S.S.R... Other Eastern Europe. Europe. Canada Latin America: Argentina... Brazil... Chile... Colombia... Cuba... Mexico... Panama Peru... Uruguay... Venezuela.... Other Latin American Republics... Bahamas and Bermuda... Netherlands Antilles and Surinam. Other Latin America... Latin America... Asia: China Mainland... Hong Kong India... Indonesia... Israel... Japan... Korea... Philippines..... Taiwan Thailand... Other Asia... Asia. Africa: Congo (Kinshasa) Morocco... South Africa... United Arab Republic (Egypt). Other Africa... Africa. Other countries: Australia... All other... other countries... foreign countries... International and regional: International... European regional... Latin American regional... Asian regional... international and regional. Grand total.... C A P I T A L M O V E M E N T S. Section V Transactions in LongTerm Securities by Foreigners Reported by Banks and Brokers in the United States Table CMV0. Foreign Purchases and Sales of LongTerm Securities, by Type and Country, During Calendar Year 970 (In millions of dollars) purchases ,47,04 0 8,9, , , Gross purchases by foreigners Domestic securities Marketable U.S. Government bonds and notes Corporate and other Bonds , , ,489 Stocks , , ,^ ,97 Foreign securities Bonds ,3^ ,487 Stocks l,0jl,033 sales ,8 3, ,84 3, , ,897 Gross sales by foreigners Domestic securities Marketable U.S. Government bonds and notes Corporate and other Bonds ~ ,4 T r e a s u r y B u l l e t i n Stocks ,376 3,000 9,63, , ,304 Foreign securities Bonds , ,40 Stocks Less than $00,000.

126 April 97 CAPITAL MOVEMENTS Section VI Foreign Credit and Debit Balances in Brokerage Accounts Table CMVI. Foreign Credit Balances (Due to Foreigners) by Country Country (Position at end of period in millions of dollars) Calendar year March June September December p Europe: Turkey... k 8 k 7 3 l lk ll l k Canada ^ Latin America: Chile... k Panama Other Latin American Republics... l 3 3k 3^ 7 0 l Netherlands Antilles and Surinam. 0 lk 0 Other Latin America k Asia: Korea ^ Africa: l United Arab Republic (Egypt)... l Other countries: l All other... ] foreign countries k3k i International and regional... Grand to ta l k3k Note: Data represent the money credit balances (due to foreigners), as / Through June 967, Luxembourg included in "Other Western Europe." appearing on the books of reporting brokers and dealers in the p Preliminary.. United States, in accounts o f foreigners with them, and in their accounts carried by foreigners. Less than $00, H 6 00

127 Treasury Bulletin CAPITAL M O V E M E N TS Section VI Foreign Credit and Debit Balances in Brokerage Accounts Table CMVI. Foreign Debit Balances (Due from Foreigners) by Country (Position at end of period in millions of dollars) Country Calendar year March June September December p Europe: Turkey ,,.. ^ Canada l4l 39 to Latin America: l l Chile l l Other Latin American Republics Netherlands Antilles and Surinam l l # Asia: 3 0 4o Africa: Other countries: All other o _ Grand total Note: Data represent the money debit balances (due from foreigners), / Through June 967 Luxembourg included in "Other Western Europe." as appearing on the books of reporting brokers and dealers in p Preliminary, the United States, in accounts o f foreigners with them, and in # Less than #00,000. their accounts carried by foreigners

128 A p ril 97 3 FOREION CURRENCIES ACQUIRED BY THE U. S. WITHOUT PURCHASE WITH nni.t.awg Foreign currencies reported herein in United States dollar equivalents were acquired without payment of dollars, for the most part in connection with foreign assistance and agricultural trade development programs authorized by various provisions of law. The currencies are held in the custody of the Treasury Department until such time as they are either sold for dollars to Government agencies or transferred to Government agencies for expenditure without charge to appropriations, as specifically authorized by law. Prior to July, 93, foreign currencies acquired by Government agencies without payment of dollars generally were available to the collecting agencies to defray operating expenses and were not subject to the regular appropriation processes. The act of July, 9, Sec. 4 (66 Stat. 66), provided that after June 30, 93, United States agencies could no longer expend foreign currencies belonging to the United States except as provided annually in appropriation acts. Subsequent legislation required executive departments and agencies, with certain exceptions, to reimburse the Treasury in dollars for the foreign currencies used. Executive Orders No dated September 3, 93, and No dated Januaiy, 96, as amended, provided for the issuance of regulations by the Secretary of the Treasury governing the purchase, custody, transfer, or sale of foreign exchange by the United States. Accordingly, Treasuiy Department Circular No. 930 was issued on October 9, 93, effective December, 93, These regulations provided for the transfer of department and agency foreign currency balances as of November 30, 93, into Treasury custody, and the flow of future collections through Treasury accounts; and established requirements with respect to withdrawals form Treasury accounts; limitations on purchases and amounts of holdings; the use of foreign depositaries; and accounting for the currencies. Department Circular No. 930 as revised October 0, 96, added certain requirements governing foreign currency reporting and accounting. Figures are stated in dollar equivalents, computed for reporting purposes, to provide a common denominator for the currencies of the many foreign countries involved. It should not be assiimed that dollars, in amounts equal to the balances, are actually available for the general use of the United States Government, since most of the currencies are inconvertible and restricted as to uses by the terms of agreements between the United States and the foreign governments. The tables exclude the counterpart funds owned by and held in accounts of the foreign governments. The use of such funds is subject to approval of the United States, and transactions therein are included in reports of the Agency for International Development. The tables also exclude the United States purchases of foreign currencies which are under dollar accountability and reported as dollar transactions. Detailed data, by account, agency, program, foreign country, units of currency, and related dollar equivalents, are published annually in the Combined Statement of Receipts, Expenditures and Balances, beginning with fiscal 98.

129 Treasury Bulletin.FOREIGN CURRENCIES ACQUIRED BY THE U. S. GOVERNMENT WITHOUT PAYM ENT OF not.t.ars Cash balances brought forward: Table FC. Summary o f Foreign Currency Transactions (Fiscal years; in millions of dollar equivalents) through Dec. 3,.970,889.0,07.3,78.9, 36.6,49.,04.3,07.3,099.0,993., ,9.,78.3,9.,807.,83.3,70.8,78., 300.6,3.3,88.9 Collections: 98.,0.9,9.3, Foreign assistance programs: Other Interest on depositary balances Other nonloan collections / Advances from foreign governments Loan repayments (principal& interest): Public Law 480 loans Foreign assistance loans c o lle c tio n s...,37.4,60.,446.,7.9,348.9, 388,8, a v a ila b ilities... 3, ,88. 4,38.7 4,36.0 4, 8. 3,69.6 3,3.6 3,84.3 3,00.4,3. Expenditures: Foreign currency expenditure authorizations: Public Law 480 loans and grants , Public Law 480 loans to private enterprises Other nontrust... Trust With dollar credits to: Special letter o f cred it Other Deposits for replacement of borrowed (unfunded) cu rren cies Miscellaneous receipts... Commodity Credit Corporation expenditures..., 4.0,86.0,444.8,489.0,7.6,47.3, 4., Adjustments due to changes in exchange rates Cash balances carried forward...,78.3,9.,807.,83.3,70.8,78., 300.6,3.3,88.9,8.6 Footnotes at end of Table FC4. Table FC..Foreign Currency Transactions, Country Uses (Fiscal years; in millions of dollar equivalents) v through Dec. 33,970 Cash balances brought forward:,7.4, Excess currencies /... Nonexcess currencies..., , , cash balances...,637.8,63.,64.4,487.9,384., Collections: Public Law 480 sales / , Foreign assistance programs collection s... Transfer to U.S. use... Transfer from U.S. use... a v a ila b ilities... Expenditures: Public Law 480 loans and grants... Public Law 480 loans to private enterprises... Other foreign assistance programs... expenditures... Adjustments due to changes in exchange rates , , ,40.0,6.7,64.,08.,0.3,663.7,37.3, , ,07., Cash balances carried forward...,63.,64.4,487.9,384., Footnotes at end of Table FC4.

130 April 97 «FOB IGN CURRENCIES ACQUIRED BY THE U. S. GOVERNMENT WITHOUT PAYMENT OF nnti.apa Table FC3. Foreign Currency Transactions, U. S. Uses (Fiscal years; in millions of dollar equivalents) through Dec.3,97C Cash balances brought forward: Excess currencies l/ ,040.4,66.,337.6,7.4,387.,36.0,73.4, ,066.6,.9,30.4,47.,30.,3.,.9,73.9,66. Collections: Foreign assistance programs: Interest on depositary balances Other nonloan collections / Loan repayments (principal & interest): Foreign assistance loans _ ,334.,84.3,66.0,793.9,894.9,88.7,998.3,004.3,066.7,889. Expenditures: Foreign currency expenditure authorizations With dollar credits to: Miscellaneous receipts Commodity Credit Corporation Special letter of credit Other Deposits for replacement of borrowed (unfunded) currencies expenditures Adjustments due to changes in exchange rates Cash balances carried forward...,066.6,.9,30.4,47.,30.,3.,.9,73.9,66.,700.0 Footnotes at end of Table FC4. Table FC4. Foreign Currency Transactions, Trust funds (Fiscal years; in millions of dollar equivalents) through Dec.3, Cash balances brought forward: Excess currencies /... Nonexcess currencies cash balances Collections: Advances from foreign governments Contributions from foreign governments collection s av ailab ilities O Expenditures: Foreign currency expenditure authorizations With dollar credits to other fund accounts....3 expenditures Adjustments due to changes in exchange rates Cash balances carried forward Source: Bureau of Accounts. / Currencies o f countries for which i t has been determined that the supply is great enough to more than meet U.S. requirements for the next two years. / Agricultural Trade Development and Assistance Act of 94, as amended (7 U.S.C. 704). / Consists of loan repayments under lendlease and surplus property agreements, recoveries o f m ilitary assistance, proceeds from sale of buildings abroad, and other items. Less than $0,000.

131 6 Treasury Bulletin FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS The financial statements of corporations and other businesstype activities of the United States Government, which have appeared in the "Treasury Bulletin since the August 96 issue, are compiled from reports submitted to the Treasury under Department Circular No. 966, issued January 30, 96, and Supplement No., Revised, issued June 6, 96. These regulations were issued pursuant to the Budget and Accounting Procedures Act of 90. They superseded BudgetTreasury Regulation No. 3, issued under Executive Order No. 8 of August 3, 940, as amended by Executive Order No of March 3, 94, under which financial statements previously published in the Bulletin were submitted. Department Circular No. 966 requires submission of financial statements lay all wholly owned and mixedownership Government corporations specifically included in the Government Corporation Control Act, as amended (3 U.S.C. 846, 8 6); and all other activities of the Government operating as revolving funds. Other activities and agencies whose operations, services, or functions are largely selfliquidating or primarily of a revenueproducing nature, and activities and agencies whose operations result in the accumulation of substantial inventories, investments, and other recoverable assets, were brought under the regulations as the agency accounting systems were developed to where they were capable of furnishing the required financial reports. Four kinds of financial statements are called for by Department Circular No They are statements of financial condition, income and expense, source and application of funds, and certain financial contingencies. The statements of financial condition are published, quarterly and appear as Section I, Table GAI. The first statements of financial condition published under Circular 966 were as of March 3, 96, and were presented in the August 96 Bulletin. Loans shown on the statements of financial condition are classified by type and account in Section III, Table GAIII. Statements of income and expense and source and application of funds are published semiannually, for June 30 and December 3 reporting dates, and appear as Section I, Tables GAI and GAI3. The first of these statements under Circular 966 covered the fiscal year 96, and were published in the January 97 Bulletin. All funds shown in the statements are noted to indicate whether they are public enterprise revolving funds, intragovernmental revolving funds, trust or trust revolving funds, or general and special funds. Supplement No., when originally issued in 96, extended the coverage to include all executive agencies and activities not previously reporting under Circular 9 6 6, but required only a statement of financial condition annually as of June 30. These were activities which were not principally of a businesstype nature. Those which had not yet developed formal accounting procedures to provide complete balancesheet type statements were temporarily authorized to report only assets. Thus, the supplement rounded out provisions for information on properties and other assets, as well as liabilities, of the United States Government all of which is needed by Treasury for the compilation of complete Governmentwide financial reports. The first comprehensive reporting under the original Supplement No. was for June 30, 97, and the data were published in the December 97 Bulletin as Part B of Table 4 in Section I. Statements submitted under this supplement are now published annually in Section II, Table GAII. The revision to Supplement No. in 96 made no basic change to the overall purpose of the originally issued supplement; it updated and consolidated all amendments to both the regulation and instructions.

132 April 97 7 Income: Interest: Account INCOME AND EXPENSE Expense: Direct cost of goods and services sold: Increase ( ), or decrease, In: Interest expense: Interest on borrowings from the U. S. FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS, Section I Government Corporations and Other BusinessType Activities Table GAI. Statements o f Income and Expense for the Six Months Ended December 3, 970 (In thousands of dollars) / Legislative Branch Government Printing O ffice (IR) Appalachian housing fund (PE) O ffice of Economic Opportunity Economic opportunity loan fund (PE) Funds appropriated to the President Liquidation Agency for International ap U X<JXCXgU f>otoi cm Development m ilitary sales fund (PE) Acquisition o f property revolving fund (IR) Alliance for Progress, development loans (PE) 0,99,849,80 _ 80 _ 80,393 _,6,39,494 6,46,9 0,97 78,098 74, ,89,79 6,040, t9..,4,97 _ 789,843 4,3 _,90,386 33,078,980,770 4,389 70,76,00 \,,07,466, , ,04,846 74,34 _ 63,09 4,34,7 4./ 9,73 3,908,80 99,886,690 3,78 7,796,779,798,74 9,73,37 4,00 Other gains, or losses ( ) : 3,06,490 Gain, or loss ( ), on sale of fixed assets. 73 Gain, or loss ( ), on sale of other assets 3,39 8,69 38,3,490 Net Income, or loss ( ), before change In 4,34,98 4,3 3 s s s =,73 3,9 3 8,8 ^ ^ = ^ s s = s s Increase ( ), or decrease, in allowances fo r losses:,949 _,677 Allowance for losses on acquired security 3,43 4 3,3 8,47 8 _ Net increase ( ), or decrease, In 33.89,79 Charges ( ), or credits, applicable to 4,479,89 4, ,9 3 8,8 4, Net income, or loss ( ), transferred to accumulated net Income, or deficit ( )... r4,4, 4,3 3,3 3, ,8 CHANGES IN ACCUflJLATED NET INCOME OR DEFICIT Balance at end of previous fisca l year...,46,876r 3, ,4 6, r 6, Net income, or loss ( ) ,4, 4,3 3,3 3, ,8 Capital transfers of earnings or profits 90,36 7,098 3,87,6 3,74,34 3, ,77 3, ,39 Footnotes at end of Section. (Continued on following page)

133 8 Treasury Bulletin Account INCOME AND EXPENSE.FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS, Section I Government Corporations and Other BusinessType Activities Table GAI. Statements of Income and Expense for the Six Months Ended December 3, 970 (Continued) (In thousands o f dollars) Funds appropriated to the President (Continued) Agency for International Development (Continued) Common defense, economic, and triangular trade loans (G&S) Development loans (PE) Development loan fund liquidation account (PE) Foreign currency loans Private enterprises (g&s ) y Foreign investment guaranty rund (PE) Loans of predecessor agencies in liquidation (G&S) Other loans (g&s) y Income: Sales of goods find services Interest: _ On public debt securities Other Interest income» 49,443 6,94 4,633 6,038. 6,304,030 Guaranty inmmn^aa premiums 3,0 _ Other major income Items... _ «_ 4 _ Expense: Direct cost of goods and services sold: (Tost of commodities sold Materials applied Wages ^ salaries applied Other applied expenses Increase (), or decrease, in: Workinprocess 49,443 6,94 4,633 6,038 3, _ Other operating e^p^^es _ 8 Depreciation Administrative expenses _,84 Grants contributions _ Interest expense: Interest on borrowings from the U. S Treasury ,78 Other Other major expense items _,93 _ expense ^998 8Z L ( f t 78 ( O J Other gains, or losses (): Chargeoffs Gain, or loss (j, on sale of fixed assets Gain, or loss (), an sale of other assets 4 68,09 7, ,09 7, Net income, or loss (), before change in Increase (), or decrease, in allowances for losses: Allowance for losses on loans Allowance for losses on acquired security or collateral»» Allowance for losses on fixed assets... Allowance for losses on inventories... Net increase (), or decrease, in 8,60 3,96 4,8,93,9,73 4,83 _ _ Net income, or loss (), for the period 8,60 3,96 4,8,93,9,73 4,83 Charges (), or credits, applicable to Net Income, or loss (), transferred to accumulated net income, or deficit () 8,60 3,96 4,73,93,93,73 4,83 CHANGES IN ACCHHJLAXED NET INCGME OR DEFICIT Balance at end of previous fiscal year Net Income, or loss ( ) Capital transfers of earnings or profits to the U S. Treasury ()...» 63,634 8,60 Balance at end of reporting period 67,84 / a = = = S S S B S Footnotes at end of Section. 79,666 3,96 470,0 4,73 47,8,93 47,80,93 09,66,73 n to 8,3 4,83 4,64 03,6 494,64 y 3,44 y 44,368 30,99 / 63,38 / a s s s s s s s s a a s B (Continued on following page)

134 April 97 9 Account INCOME AND EXPENSE.FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS, Section I Government Corporations and Other BusinessType Activities Table GAI. Statements of Income and Expense for the Six Months Ended December 3, 970 (Continued) (In thousands of dollars) Funds appro Agriculture Department priated to the President Agricultural Consumer and Farmers Home Administration Commodity (Continaed) Research Marketing Expansion Service Credit Service of defense Agricultural Direct Overseas Corporation Hllk market loan Private Working production cr cnw (PE) orders account Investment capital (PE) insurance assessment fund (PE) (PE) Corp. (PE) 6/ fund (IR) fund (TR) Income:,84 798,87 Interest: On public debt secu rities...,67 0. Other Interest income. «_ 8,3 7 3,4 37,93 Guaranty pi'nlvns _ 0 Other major income item s.. _ 9,07 9,39 3,67,833 88,38 9,483 _ 3,679 37,97 Expense: Direct cost of goods and services sold: Cost o f commodities so ld ,0 Materials a p p lie d Vages and salaries applied. 49 _ Other applied expenses.»,373 _ Increase ( ), or decrease, in: Work in process. finished goods. _ Other operating expenses..» , Depreciation.. «48 Administrative expenses.,786 8,340 3,7 0 Grants and contributions.. Interest expense: Interest on borrowings from the IF S. Treasury ,7,978 8,748,766 Other. 3,043^ 6,87 Other major expense item s...,979,93 _, expense O Al'X i oqq nnfk. ft v n 978 3?./i3 4,<77,(to,690 Other gains, or losses ( ) : Chargeoffs. 4 76,9 Gain, or loss (j, on sale o f fixed assets 3 Gain, or loss (), on sale of other assets : Other ,94 Net income, or loss (), before change in,67 6 3,44,69,43,978 9,008 9,34 Increase (), or decrease, In allowances for losses: Allowance for losses on loans. 4,84,48,03 Allowance fo r losses on acquired security or co lla te ra l...» Allowance for losses on fixed assets. Allowance for losses on inventories. 3, Net increase (), or decrease, in.. 7,964, Net income, or loss ( ), for the period...,67 6 3,449,69,43,978 3,494 0,030 Charges (), or cred its, applicable to 8 98 Net income, or loss ( ), transferred to accumulated net income, or d eficit ( )...,67 6 3,449,688,43,978 3,96 9,80 CHANGES IN ACCUMULATED NET INCOME OR DEFICIT Balance at end of previous fis c a l year... Net income, or loss Capital transfers of earnings or p rofits to the U S. Treasury ( )..., ,689,64 3,449,688 0,3,43 0,66,978 83,978 3,96 93,99 9,80 _ 3 3,363,^ Balance at end of reporting period., ,776,78,378 04,44,74 03,734 Footnotes at end of Section. (Continued on following page)

135 30 Treasury Bulletin Income: Interest: Account INCOfE AND EXPENSE Expense: Direct cost of goods and services sold: Increase ( ), or decrease, in: Interest expense: Interest on borrowings from the U. S..FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS. Section I Government Corporations and Other BusinessType Activities Table GAI. Statements of Income and Expense for the Six Months Ended December 3, 970 (Continued) (In thousands ot dbllars) Emergency credit revolving fund (PE) Agriculture Department (Continued) Farmers Home Administration (Continued) Loans, salaries, and expenses (G&S) Rural housing insurance fund (PE) Self help housi Lng land deve] Lopment fund (PE) Federal Crop Insurance Corporation (PE) / Forest Service Working capital fund (IR) 6,70 Rural Electrification Administration (G&S). _,478 4,70 3,6 _ 7 44, _ 736,4.8 4, ,66 874,99 _,793,7 _ 86 ~ 74 ~ 6 68, ,77 9,99 6,603,8 7,30 840,90. _,404 _ 3,770,70 ~ 33,86,387, ,076 _ 4,08 4, 6,?7, Other gains, or losses ():,04 97 _ 6 _ Gain, or loss (), on sale of fixed assets _ 4 Gain, or loss (), on sale of other assets.,09 other gains, or losses ( ).....,7, Net income, or loss ( ), before change in valuation allowances ,9 49,848 0,40 3,0,39,7 Increase ( ), or decrease, in allowances for losses: Allowance for losses on loans... 4,648 Allowance for losses on acquired security or collateral _.. _ Allowance fo r losses on fixed assets... _ Allowance for losses on inventories.... _ 73 _ 9 33 Net increase (), or decrease, in 686, Net income, or loss (), for the p e r io d ,847 3,087, T,?9m,7 Charges ( ), or credits, applicable to _ 4,987 Net income, or loss ( ), transferred to accumulated net income, or deficit ( ) ,088,969,39,7 CHANGES IN ACCtlfflJLATED NET INCOME OR DEFICIT Balance at end of previous fisca l year... 34,8 749,4 3,77 89,93 8,786 86,699 Net income, or loss ( ,834 3,088,969,39,7 Capital transfers of earnings or profits _ Balance at end of reporting period... 3,08 _ 84,46 8,80 86,98,0 9,409 Footnotes at end of Section. (Continued on following page)

136 April 97 3 Account INCXKE ANDEXPENSE.FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS. Section I Government Corporations and Other BusinessType Activities Table GAI. Statements of Income and Expense for the Six Months Ended December 3, 970 (Continued) (In thousands of dollars) Commerce Department Department Economic Maritime Administration National ( Continued) Development Bureau of Administration Federal ship Vessel Warrisk standards Maritime operations insurance Economic mortgage Working Administration insurance revolving revolving capital development Working (G&S) revolving fund fund fund (IR) revolving capital fimd fptrt fund (PE) (PE) (PE) fimd (IE) Income: Sales of goods and services.,84 3,76 38, U Interest: On public debt secu rities Other interest income. 7, , ,84 7,4,79, ,.8.4?. Expense: Direct cost of goods and services sold: >74, _ Other applied expenses.,89,7 6,083 9,38 Increase ( ), or decrease, In: Other opfr+itig expenses. 6,34' 3,83 Depreciation , ,690 FInlffhAd goods.tttttttttttttttttttttttt 6,36 Interest expense: Interest on borrowings from the U. S. 89,76 87 Other...,8 0/,779 expense ,47,8 40, , ,86 Other gains, or losses ( ) : Chargeoffs. Gain, or loss ( ), on sale of fixed assets. Gain, or loss ( ), on sale of other assets. Other , ,60 7 Net Income, or loss ( ), before change in 67,39 3,497, Increase ( ), or decrease, in allowances for losses: Allowance for losses on loans ,687 Allowance for losses Km acquired security or collateral. Allowance for losses on fixed assets..... Allowance for losse& on inventories.... Net increase ( ), or decrease, in,687 Net itycome, or loss ( ), for the period Charges ( ), or credits, applicable to Z.97, Net income, or loss ( ), transferred to accumulated net income, or d eficit ( ) ,806, CHANGES IN ACCIMJLATED NET INCOME OR DEFICIT Balance at end of previous fisc a l year... Net Income, or loss () Capital transfers of earnings or p rofits to the U. S. Treasury ( ) ,376 38,636,4 3,806,30,73 9,007 4,73 6 Other... Balance at of reporting period... 4,08,77,348 7,88 9,007 L l+y 86 OU 3? Footnotes at end of Section. (Continued on following page)

137 3 Treasury Bulletin Account INCOME AND EXPENSE.FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS, Section I Government Corporations and Other BusinessType Activities Table GAI. Statements of Income and Expense for the Six Months Ended December 3, 970 (Continued) (In thousands of dollars) Commerce Department (Continued) National Oceanic and Atmospheric Administr ation / federal ship mortgage insurance fund, ^is^ing vessels Fisheries loan fund (PE) Fishermen's protective fund (PE) Working capital fund (IR) Defense production guarantees (PE) Defense Department Military Air Force Department Industrial fund (IR) / Surcharge collection s, sales o f commissary stores (TR) 3/ Income: Sales of goods and services. Interest: _ 4,688 _,73,8 _ Qn public debt securities Other interest income 6 Guaranty premiums Other jnrr ^T)Aflf 6 i t ,06 _ , bpense: Direct cost of goods and services sold: Cost Of sold 8 Materials applied Wages and salaries applied» Other applied expensesa 06 3, Increase ( ), or decrease, in: Work In process Finished goods » Other operating expenses Depreciation 3 3 Administrative expenses L Interest expense: Interest on borrowings from the 0 S Treasury... 98,366 86,6 74,38 4/ 3,748 7 Q.//0 Other major expense items _ 38 4,339 _ 7 4,79,68,39 9 M 0 Other gains, or losses ( ) : Charge o f f s Gain, or loss ( j, on sale o f fixed assets ~ Gain, or loss ( ), an sale of other assets Net Income, or loss ( ), before change in Increase ( ), or decrease, in allowances for losses: Allowance for losses on loans Allowance for losses an acquired security or collateral? Allowance for losses on fixed assets Allowance for losses on inventories Net increase ( ), or decrease, in ,86,76 I I I I I Net income, or Hogg ( )> for the period ,86,76 Charges ( ), or credits, applicable to,30 Net income, or loss ( ), transferred to accumulated net income, or d e ficit ( ) ,83,,76 CHANGES IN ACCWULATED NET INCOME OR DEFICIT Balance at end of previous fisc a l year Net income, or loss ( )«% Capital transfers of earnings or p rofits to the U S Treasury ( ) , ,0 0,83 4,77,76 Footnotes at end of Section ,644 SSSSSBBBBSBB8 33 6,334 (Continued on following page)

138 April Account INCOME AMD EXPENSE.FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS, Section I Government Corporations and Other BusinessType Activities Table GAI. Statements of Income and Expense for the Six Months Ended December 3, 970 (Continued) (In thousands of dollars) Defense Department (Continaed) Military (Continued) Air Force Dept. (ContO Cadet fund (TR' / Army Department Navy Department Defense industrial Defense TJ,. industrial Marine Corps production fund( IR) production fund (IR) guarantees (PE) / guarantees Industrial (PE) / fund (IR) U.S. Naval Academy Midshipmen's commissary (TR) Income: Sales o f goods and services 66,3,983,404,9 9 Interest: On public debt securities Other interest income _ Guaranty premiums... _ Other major income itemsa _ 8,3 8,3 _ 66,3 43,983,404,9 9 Expense: Direct cost o f goods and services sold: Cost of ftonmodltles sold 97 Materials applied «_ 07,8 _ 33,930 3,4 _ Vages and salaries applied _ 383,6 _,0,9 6,93 Other applied expenses 4,68 U / _ 698,766 HJ 843 _ Increase ( ), or decrease, In: Workinprocess 6,689 66,936 7 Finished goods»... Other op ia tin g expenses 7,4 Depreciation _ Administrative expenses. 6 _ Grants contributions _ Interest expense: Interest on borrowings from the U. S Treasury Other... Other major expense iterns 8,768 expense X D I D ) (OX o Other gains, or losses ( ) : Chargeoffs Gain, or loss ( ), on sale of fixed assets. Gain, or loss ( ), on sale of other assets Net income, or loss ( ), before change in , 6 Increase ( ), or decrease, in allowances fo r losses: Allowance for losses on loans Allowance fo r losses on acquired security or collateral Allowance for losses on fixed assets _ Allowance for losses bn inventories _ Other... Net increase ( ), or decrease, in _ Net Income, or loss ( ), for the period , 6 Charges ( ), or credits, applicable to.,6 _ Net income, or loss ( ), transferred to accumulated net income, or deficit () ,743 6 CHANGES IN ACCUKJLATED NET INCOME OR DEFICIT Balance at end of previous fisc a l year... Net income, or loss ( ) Capital transfers of earnings or p rofits to the U. S Treasury ( ) ,64,903 7,30 7,399 6,743 Balance at end of reporting period.,6,63,33,647 4, Footnotes at end of Section. (Continued on following page)

139 34 Treasury Bulletin.FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS, Section I Government Corporations and Other BusinessType Activities Table GAI. Statements of Income and Expense for the Six Months Ended December 3, 970 (Continued) (In thousands of dollars) Defense Department (Continued) M ilitary (Continued) C ivil Navy Dept. Family Defense agencies Army Department Account (Continued) housing Defense Panama Canal United States U.S. Naval industrial Defense Corps o f Soldiers Home Academy(Cont.) Homeowners fund (IR) production Engineers (IR) Panama Midshipmen s assistance revolving guarantees (PE) Canal store (TR) fund (PE) / / Company (HE) fund (TR) INCOME AND EXPENSE Income: Sales of goods and services 3,9,93 90,449 98,38 89,40 90 Interest:.. On public debt securities _ Other interest income OijwT'anty,,,,,,,,,,,, Other major income items... _ 0 4,7 3,0,93 90,449 30,0 89,40 90 Expense: Direct cost of goods and services sold: Host of commodities sold,9,86 63,3 90 Materials applied»» 7,670 Wages and salaries applied 33 _ 6,349 _ Other applied expenses» 9,96 84,86 4/ _ 87,9 Increase ( ), or decrease, In: Work in process.» 9 Finished goods» Other operating expenses _ 4,94 _ Depreciation 9 _.. 6, 4,630 _ Administrative expenses 7 9,49 Grants contributions 3 Interest expense: Interest on borrowings from the U. S. Treasury... Other «... ««_,96 6/ Other major expense items _ 3,78 _ ' expensea 3,39 4,74 9,7 96,764 87,63 90 Other gains, or losses ( ) : Chargeoffs (Sain, or loss ( ), on sale o f fixed assets Gain, or loss ( ), on sale of other assets Other Net Income, or loss ( ), before change in 9,8,63,634,8 _ Increase ( ), or decrease, in allowances for losses: Allowance for losses on loans Allowance fo r losses on acquired security or collateral Allowance for losses on fixed assets _ Allowance for losses on inventorles 3 Other... Net increase ( ), or decrease, in 3 Net income, or loss ( ), for the period 3,8,63'' _,634,8 _ Charges ( ), or credits, applicable to _ 4 _ Net income, or loss ( ), transferred to accumulated net income, or deficit ( )... 3,8,08,634,8 CHANGES IN ACCUMULATED NET INCOME OR DEFICIT Balance at end of previous fisc a l year... Net income, or loss ( ) »...«Capital transfers of earnings or p rofits to the U, S Treasury ()«.»... l,638r 3,3,8,80,08 0,00,634 89,063,8 Balance at end of reporting period,76 4,66,93,68 9,348 _ Footnotes at end of Section. (Continued on following page)

140 April 97 3 Income: Interest: Account INCOME AND EXPENSE Expense: Direct cost of goods and services sold: Increase ( ), or decrease, in: Interest expense: Interest on borrowings from the U. S..FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS, Section I Government Corporations and Other BusinessType Activities Table GAI. Statements of Income and Expense for the Six Months Ended December 3, 970 (Continued) (In thousands of dollars) Health, Education, and Welfare Department CPEHS Yjj Office of Education Health Services and Mental Health National Administration i n S u l4 V++ U v CAfi P Revolving Higher Student Narcotic of Health fund for education loan hospitals Operation of Service Health certification fa c ilitie s insurance Working commissaries, and professions and other loans fund capital narcotic supply education services (PE) fund (PE) (PE) fund (IR) hospitals (PE) fund (IR) (PTP^,^8 9 74,977. _ 9 6, ,98 6, , i,44 i ~ _ 3 4,74,040 8/ 3,873 4, U,044 Other gains, or losses ( ) : 68 Gain, or loss ( ), on sale of fixed assets. Gain, or loss (»), on sale of other assets. other gains, or losses ( ) Net Income, or loss ( ), before change in 3 7, Increase ( ), or decrease, in allowances for losses:,6 Allowance fo r losses on acquired security or collatera l... Allowance for losses on fixed assets.... O ther Net increase ( ), or decrease, in,644 Net income, or loss ( ), for the period. 3 7,73, U Charges ( ), or credits, applicable to _... 9 _ Net Income, or loss ( ), transferred to accumulated net Income, or d e ficit ( ) ,73, CHANGES IN ACCUMULATED NET INCOME OR DEFICIT Balance at end of previous fisca l y e a r..., lr 9 Net income, or loss (_ )» ,73, Capital transfers of earnings or profits _. 6 6,9lU 78, Footnotes at end of Section. (Continued on following page)

141 36 Treasuiy Bulletin Account INCOME AND EXPENSE.FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS, Section I Government Corporations and Other BusinessType Activities Table GAI. Statements of Income and Expense for the Six Months Ended December 3, 970 (Continued) (In thousands of dollars) Health, Education, and Welfare Department Housing and Urban Development Department ( Continued) Renewal and housing assistance National Institutes of Health Departmental ( Continued) management College Lowrent Rehabilitation Urban Nurse Service Working housing public loan renewal training and supply capital loans housing fund programs fund (PE) fund (PE) fund (IR) / (PE) (PE) (PE) (PE) Income: Sales of goods and services Interest: _ 9,034 _ On public debt securities Other interest income» Gueianty and {nsurai>e«premiums ,897 4,97,9,84 Other major income item s _ ,034,448 6,,40 3,3 Expense: Direct cost of goods and services sold: Cost of commodities sold 3,048 Materials applied _ Wages and salaries applied. Qth«r applied expenses.» «_ Increase ( ), or decrease, in : Wcn]cinprocess. Other operating expenses. Depreciation. 6, Administrative expenses 00 Grants gnd contributions... Interest expense: 79 6,7 Interest on borrowings from the U S. Treasury. Other 477 8/ 8,606,836,349 Other major expense items _. 97 _ expense 478 9,38 7,093 6, ,39 Other gains, or losses ( ) : Chargeoff Gain, or loss ( j, on sale of fixed assets Gain, or loss ( ), on sale of other assets Other... 3 _ 3 9 _ Net Income, or loss ( ), before change in 338,06, ,64 8, ,888 Increase ( ), or decrease, in allowances fo r losses: Allowance for losses on loans. 36,73 Allowance for losses on acquired security or co lla te ra l Allowance for losses on fixed assets Allowance for losses on inventories. Other _ Net increase ( ), or decrease, in allowances fo r losse s ,70 Net income, or loss ( ), for the period ,68 8, ,888 Charges ( ), or cred its, applicable to prior years... Net Income, or loss ( ), transferred to accumulated net income, or d eficit ( ) 30 94,68 8, ,888 CHANGES IN ACCHKJLATED NET INCOME OR DEFICIT Balance at end of previous fisc a l year... Net Income, or loss ( )» Capital transfers of earnings or p rofits to the U S Treasury () ,69,68 3,93,4 8, , 766 4,077, ,888 Other... 4,436 Balance at end of reporting period ,03 3,8,47 9,9 4,44,778 S S S S S S S S S S S S a O K Footnotes at end of Section. (Continued on following page)

142 April 97 Account INCOME AND EXPENSE OTNANflTAI, OPERATIONS OP GOVERNMENT AGENCIES AND FUNDS, Section I Government Corporations and Other BusinessType Activities Table GAI. Statements of Income and Expense for the Six Months Ended December 3, 970 (Continued) (in thousands of dollars) Housing and Urban Development Department (Continued) Metropolitan development Mortgage credit Federal Housing Administration 0/ New Public Public works Revolving communities facility planning guarantee loans advances fund (PE) (PE) fund (PE) fund, liquidating programs (PE) Community disposal operations fund (PE) Interstate land sales fund (G&S) Income: Sales of goods and services «_ Interest: O n public debt securities 8 Other income 8, OiMfanty a n d ln4inotce pmlubs I I I... 6 Other major income items......, _ # 36 Expense: Direct cost o f goods and services sold: Cost of commodities sold Materials applied... Wages and salaries applieda Other applied expenses Increase (), or decrease, In: Wpi'klnpracess» Rental housing assistance fund (PE),080 8, Other operating expenses a 6 _ 6 Depreciation Administrative expenses I Grants "tk contributions _ Interest expense: Interest on borrowings from the U S Treasury 4,99 Other... 4,49 Other major expense items _ 03 # expense ±< o J.vJ,UP f OJ 0 Other gains, or losses ( ) : Chargeoff8 46 Gain, or loss ( ), on sale of fixed assets Gain, or loss ( ), an sale of other assets Other Net Income, or loss ( ), before change In,068, Increase ( ), or decrease, In allowances for losses: Allowance for losses on loans Allowance for losses on acquired security or collateral!> Allowance for losses on fixed assets Allowance for losses on inventories Other Net increase ( ), or decrease, in _, _# Net income, or loss ( ), for the period,068, b T37 Charges (), or credits, applicable to Net Income, or loss (), transferred to accumulated net Income, or deficit ()...,068, CHANGES IN ACCUMULATEDNET INCOME OR DEFICIT Balance at end of previous fisc a l year... Net income, or loss ( ) Capital transfers of earnings or p rofits to the U S Treasury ( ),068 7,769,67 6,3 67,66, ,9 7 Other...,49 Balance at end of reporting period 8,94 o»8s,66,683 6,698, Footnotes at end of Section. (Continued on following page)

143 38 Treasury Bulletin Income: Interest: Account INCOME AND EXPENSE Expense: Direct cost of goods and services sold: Increase ( ), or decrease, in: Interest expense: Interest on borrowings from the U. S. Other gains, or losses ( ) :.FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS, Section I Government Corporations and Other BusinessType Activities Table GAI. Statements of Income and Expense for the Six Months Ended December 3, 970 (Continued) (In thousands of dollars) Housing and Urban Development Department (Continued) Mortgage credit (Continued) federal Housing Government National Mortgage Association (Continued) 0/ Guarantees of Management and Participation Special liquidating sales assistance Revolving mortgagebacked securities fund fund functions fund (PE) functions (PE) (PE) (PE) Housing for the elderly or handicapped (PE) Federal Insurance Administration National flood insurance fund (PE) _ 30,837.., ,,677 73,797 7,4 _ 07, _,8 3.8 _ 38, ,783 8,83 76,96 7, _ 69, ,6 4 _ 8 30,36 7, ,94 9, _ 6,609 3,03 4,8 _, _ ,0 9,4 8 03,388 3, Gain, or loss ( ), on sale of fixed assets. 3 _ Gain, or loss ( ), an sale of other assets. 3, _ 3, Net Income, or loss ( ), before change in 0,36 0,36 8,04 6, 3, Increase ( ), or decrease, in allowances for losses: Allowance for losses on acquired security, ,97 Allowance for losses on fixed assets... Allowance for losses on inventories.... _ Other... 6 _ 370 _ Net increase ( ), or decrease, in 34, Charges ( ), or credits, applicable to 86,80 0,309 8,04 6,9 3,68 84 Net income, or loss ( ), transferred to accumulated net income, or d eficit ( )... 86,80 0,309 8,04 6,9 3,68 84 CHANGES IN ACCUMULATED NET INCOME OR DEFICIT Balance at end of previous fisca l year...,7,9 3 38,07 _ 74,89 7,7 07r Net income, or loss ( )... 86,80 0,309 8,04 6,9 3,68 84 Capital transfers of earnings or profits Other...,798 8,04 _,367 _ Balance at end of reporting p e r io d...,6, ,46 47,68 3, _ ir\ to Footnotes at end of Section. (Continued on following page)

144 April Account INCOME AMD EXPENSE 'FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS, Section I Government Corporations and Other BusinessType Activities Table GAI. Statements of Income and Expense for the Six Months Ended December 3, 970 (Continued) (In thousands of dollars) HUD (Continued) Interior Department Fed. Insurance Admin. (Cont.) Departmental management Alaska Bonneville Bureau of Indian Affairs Revolving Liquidation of insurance capital development fund (G&S) (G&S) fund for Hoonah housing loans (PE) project (PE) fund (PE) (IR) National Working Power Administration Power Adminis tration Bureau of Mines Helium fund (PE) Income: Sales of goods and services «, ,88 / 4,033 Interest: On public debt securities,86 Other interest Income». _ 3 _ Guaranty premiums 8,70 Other major Income items _ 3 6, ,996, , ,09 Expense: Direct cost of goods and services sold: Cost of commodities sold Materials applied 7 Wages and salaries applied _,874,43 Other applied expenses. 3,66 _ Increase ( ), or decrease, In: Work in process. finished goods 3 Other operating expenses. 4 68' 9,94 _ Depreciation. 7 7, Administrative expenses.» 7 L 48 Grants and contributions. Interest expense: Interest on borrowings from the U. S. Treasury.... Other 8,76,07./ Other major expense item s..,4 expense»...,737,99 39,40 3, Other gains, or losses ( ) : Chargeoff s Gain, or loss ( ), on sale of fixed assets. Gain, or loss ( ), on sale of other assets. Net Income, or loss ( ), before change in 9 _ 9 9, Increase ( ), or decrease, In allowances fo r losses: Allowance for losses on loans. 49 Allowance for losses on acquired security or collateral. Allowance for losses on fixed assets. Allowance fo r losses on inventories.. _ Net increase ( ), or decrease, in 49 _ Net income, or loss ( ), fo r the p e r io d... 9, Charges ( ), or credits, applicable to 6 Net Income, or loss ( ), transferred to accumulated net income, or d eficit ( ).... 9, CHANGES IN ACCUMULATED NET INCOME OR DEFICIT Balance at end of previous fisc a l year... Net Income, or loss Capital transfers of earnings or p rofits to the II. S. Treasury ( ),7 9,9 66 6, , , , Balance at «nd of reporting period. 64,984 6,76 34,48, ,670 Footnotes at end of Section. (Continued on following page)

145 40 Treasury Bulletin Account INCGMB AMD EXPENSE.FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS. Section I Government Corporations and Other BusinessType Activities Table GAI. Statements of Income and Expense for the Six Months Ended December 3, 970 (Continued) (In thousands of dollars) Interior Department (Continued) Bureau of Reclamation Expansion O ffice o f Fund for emenv Upper Lower o f defense the Secretary gency expenses, Colorado Colorado Southeastern Southwestern River River production Fort Peck Working Power Power Project, Basin Basin (EE) capital Administration Administration Montana (PE) fund (PE) fund (PE) fund (IR) (G&S) (G&S) Income: Sales of goods and services....,896 3,83,96,7 9,873 Interest: On public debt secu rities Other interest income.». _ Guaranty ^ infliir^nce premiums Other major income item s. 4,896 3,84, Expense: Direct cost of goods and services sold: Cost of commodities so ld Material? applied»»» 48 Wages and salaries applied 43 9 Other applied expafse9ttttttttttttttttttt 3,98 Increase ( ), or decrease, In: Work in process. Finished g ood s,tttttttttttitttttttttttt 7, Administrative expenses Grants ^ contributions. Other operating expenses Depreciation 390 6,680 Interest expense: Interest on borrowings from the U. S. Treasury. ««,0 Other 8 /,8 y Other major expense items,8 _ expense 98,77,0 J, Other gains, or losses ( ) : Chargeoffs... Gain, or loss ( ), on sale of fixed assets. _ Gain, or loss ( ), on sale of other assets. 3 other gains, or losses () Net income, or loss ( ), before change in,9,073,09,96,86 Increase ( ), or decrease, in allowances for losses: Allowance for losses on loans Allowance for losses on acquired security or collateral Allowance for losses on fixed assets... Allowance for losses on inventories _ Net increase ( ), or decrease, in Net income, or loss ( ), for the period......,9 07^ Charges ( ), or credits, applicable to,0 XtCf C7U L<, cod 89 Net income, or loss ( ), transferred to accumulated net income, or d eficit ( )...,9,073,0,8,37 CHANGES IN ACCIMJLATED NET INCOME OR DEFICIT Balance at end of previous fisc a l year... Net income, or loss ( )... Capital transfers of earnings or p rofits to the U S. Treasury () 3,779,9 84,073 4,73,0 6 39,77,8 3,0,37 Balance at end of reporting period... 33,694,3 4 4, ,998,7 Footnotes at end of Section. (Continued on following page)

146 April 97 4 Income: Interest: Account INCOME AND EXPENSE Expense: Direct cost of goods and services sold: Increase ( ), or decrease, in: Interest expense: Interest on borrowings from the U. S..FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS. Section I Government Corporations and Other BusinessType Activities Table GAI. Statements of Income and Expense for the Six Months Ended December 3, 970 (Continued) (In thousands of dollars) Justice Labor Department Post Office State Transportation Department Department Department Department Bureau of UIlxvc OPfS op U Federal Federal Prison Aviation Employment the Secretary System Postal Working war risk Railroad Security Administration Working insurance Federal Prison Advances to fund capital unemployment capital (PE) 6/ revolving Alaska Railroad Industries, fund (IR) trust fund fund (IR) fund (PE) revolving Inc. (IR) (PE) / fund (PE) 3,30,47 3,487,66 3,8 7,7 _ 8,8 6 7,9 48 3,86 8,460 3,8,4 3,87,8 8,07,04 3, ,90 3,38 3,38,96,6,3,00,68 79,7 40, , ,84 4, , _ Other... 4,9,770 44,38 7/ 7 Other gains, or losses ( ) :.99 _,93 4,807,09 8/ 3,380 9,9 Gain, or loss ( ), on sale of fixed assets. Gain, or loss ( ), on sale of other assets Net Income, or loss (>), before change in Increase ( ), or decrease, in allowances fo r losses: Allowance fo r losses on acquired security or collatera l ,48,633 9,8,40 6 Net increase ( ), or decrease, in ,48,633 9,8, Charges ( ), or credits, applicable to 43 _ Net income, or loss ( ), transferred to accumulated net income, or d eficit () ,48,633 9,8,4 CHANGES IN ACCIUULATED NET INCOME OR DEFICIT Balance at end of previous fisca l year... 49,88r 3,3 309r / 9 8,0 Net income, or loss (~)» ,48,633 9,8,4 Capital transfers of earnings or profits.. Footnotes at end of Section.,48,633 0,803 3, ,840 6,47 (Continued on following page).

147 4 Treasury Bulletin Income: Interest: Account INCOME AMD EXPENSE Expense: Direct cost of goods and services sold: Increase ( ), or decrease, in: Interest expense: Interest on borrowings from the U. S..FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS. Section I Government Corporations and Other BusinessType Activities Table GAI. Statements of Income and Expense for the Six Months Ended December 3, 970 (Continued) (In thousands of dollars) Transportation Department (Continued) Saint United States Coast Guard Urban Mass Lawrence Transportation Coast Surcharge Seaway Administration Development Guard Supply collection s, Vo XEra ya Corporation Cadet fund sales o f fund Urban mass fund (IR) commissary transportation (IR) (PE) (TR) stores (TR) fund (PE) Working capital fund (IR) 4,780 6,47 9 8, _ 3,3 _ 90 _,80 _ _ Ll 4,846,367 6, ,6, ,07 87,063 _,09 33, _ 06 _,6 _,80 696,?0,33 6, Other gains, or losses ( ) : 7 Gain, or loss ( ), on sale of fixed assets. _ 4 Gain, or loss ( ), on sale of other assets. _ Other... Net Income, or loss ( ), before change in Increase ( ), or decrease, in allowances for losses: 7 4, ,46 97 Allowance for losses on acquired security.. Allowance for losses on fixed assets. Allowance for losses on inventories.. Net increase ( ), or decrease, in Charges ( ), or credits, applicable to, , Net income, or loss ( ), transferred to accumulated net income, or d eficit (), ,46 9 CHANGES IN ACCUMULATED NET INCOME OR DEFICIT Balance at end of previous fisca l year. 4, ,63 38 Net income, or loss ()..., ,46 9 Capital transfers of earnings or profits Other... Balance at end of reporting period... Footnotes at end of Section. si to Q3 U (Continued on following page)

148 April Income: Interest: Account INCOME AMD EXPENSE.FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS, Section I Government Corporations and Other BusinessType Activities Table GAI. Statements of Income and Expense for the Six Months Ended December 3, 970 (Continued) (in thousands of dollars) Bureau of Engraving and Printing (IR) C ivil defense and RFC loans in liquidation (PE) Treasury Department 3/ Expansion of defense production (PE) Miscellaneous loans and certain other assets (G&S) O ffice of the Comptroller of the Currency (TR) O ffice of the Treasurer rreasiirer of the U.S., check forgery insurance fund (PE) General Services Administration Automatic data processing fund (IR) 8,389 _ 7,6 _ 9,48 9 _ ,84 _ Guaranty and Insurance premiums Expense: Direct cost of goods and services sold: Increase ( ), or decrease, in: Interest expense: Interest on borrowings from the U. S. 8, ,84 8, A8 4,4,634,3 _ ,060 7,0 8 64,97, 7,847 _ 7 38 _ 7,4 7 7,9 38 9,87 Other gains, or losses ( ) : 0 Gain, or loss ( ), on sale of fixed assets. 0 Gain, or loss ( ), on sale of other assets. Other Net Income, or loss ( ), before change in, , Increase ( ), or decrease, in allowances for losses: Allowance for losses on acquired security _ 4, Net increase ( ), or decrease, in 3, , , Charges ( ), or credits, applicable to,74 Net Income, or loss ( ), transferred to accumulated net income, or deficit ( )..., , CHANGES IN ACCUMULATED NET INCOME OR DEFICIT Balance at end of previous fisca l year / 8,89,339,674r 9,33 33 Net income, or loss ( )««, , Capital transfers of earnings or profits _ 9 997,000,046 _ 8, ,04 9, Footnotes at end of Section. (Continued on following page)

149 44 Treasury Bulletin.FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS, Section I Government Corporations and Other BusinessType Activities Table GAI. Statements of Income and Expense for the Six Months Ended December 3, 970 (Continued) (In thousands of dollars) General Services Administration (Continued) Buildings Construction Defense Expansion Federal General National Account management services, production of defense telecom supply Archives fund public loan production munications fund trust (IR) buildings (IR) guarantees (PE) (PE) fund (IR) (IR) fund (TR) Income: Interest: INCOME AND EXPENSE Expense: Direct cost of goods and services sold: Increase ( ), or decrease, In: Interest expense: Interest on borrowings from the U. S. 86,6U8 0,93 7,086 7,80 Ul8, l 68,390, ,767 0,9^ 9,97 7,80 Hl8, l 68 l,k l8 Ul,8l l 39,30 kk 89,986 0, ,9m 0, 0UU, ,oU 3 7,9 Other ,39 0,693 00,3 7,0U9 +,+0,39 Other gains, or losses ( ) : 6U Gain, or loss ( ), on sale of fixed assets. 7 Gain, or loss ( ), an sale of other assets Other...,73 7,73 U 7k Net Income, or loss ( ), before change in 3,79 00 lk 7,9 3,77 3,67 9 Increase ( ), or decrease, in allowances s s^ = s a a s _ for losses: Allowance for losses on acquired security Net increase ( ), or decrease, in 3, ,49 3,77 3,67 9 Charges. ( ), or credits, applicable to ^3 0 h _ 3,U» 78 Net income, or loss ( ), transferred to accumulated net Income, or d eficit () U, ,3 3,77 6,63 9 CHANGES IN ACCUMULATED NET INCOME OR DEFICIT Balance at end of previous fisca l year...,7 l, kk 6,60,3 7 3,67,38 Net income, or loss ( )» U,9 09 lu 7,3 3,77 6,63 9 Capital transfers of earnings or profits 7 Balance at end of reporting period...,68,^3 70,33,776 3,77 9,879,36 Footnotes at end of Section. (Continued on following page)

150 April 97 4 Account INCOME AND EXPENSE.FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS, Section I Government Corporations and Other BusinessType Activities Table GAI. Statements of Income and Expense for the Six Months Ended December 3, 970 (Continued) (In thousands of dollars) General Services Administration (Continued) Veterans Administration Reconstruction Finance Corporation liquidation fund (PE) Liquidation of Virgin Islands Corporation (PE) William Langer Jewel Bearing Plant revolving fund (PE) Working capital fund (IE) Canteen service revolving fund (PE) Direct loans to veterans and reserves (PE) Loan guarantyrevolving fund (PE) Income: Sales of goods and services 993 U,9 37, Interest: _ On public debt securities Other Interest income Ul,9,60 and ^nfnn4t)ce premiumsa Other major income items. _ 6 _ 33 9,U88 8, U.37 37,38 M,079 0,76 Expense: Direct cost of goods and services sold: Cost of commodities sold k6 76,U Materials applied _ Wages and salaries applied. 7,00 Other applied expenses «Increase ( ), or decrease, In: Workinprocess. Finished goods _ «. Other oparahng expenses _ 3,36,760 Depreciation Administrative expenses,38 98 ^ Grants flt^ contributions _ Interest expense: Interest on borrowings from the U S Treasury,639 Other ,(6 7,88 Other major expense items _ kl6,779 expense ,oU8 3,68 39, Other gains, or losses ( ) : _ Chargeoff8 7^ 393 Gain, or loss ( j, on sale of fixed assets Gain, or loss ( ), on sale of other assets 3 Net Income, or loss ( ), before change In ^ l,kk,07 0,8^7 Increase ( ), or decrease, In allowances for losses: Allowance for losses on loans Allowance fo r losses on acquired security.. or collateral? 9 6 Allowance for losses on fixed assets _ Allowance for losses on inventories Other... 6,8 Net increase ( ), or decrease, In _. 9 6,063 Net Income, or loss ( ), for the period i,'wl ^98 Charges ( ), or credits, applicable to 3 l _ Net Income, or loss ( ), transferred to accumulated net income, or deficit ( ) ,M,098 U,784 CHANGES IN ACCIAHJLATED NET INCOME OHDEFICIT Balance at end of previous fisc a l year... Net income, or loss («) Capital transfers of earnings or p rofits to the U S Treasury () ,89 l,kk 89,33,098 78,36 4,78U _ Balance at of reporting period ^,36 00,U3 73,^ Footnotes at end of Section. (Continued on following page)

151 46 Treasury Bulletin.FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS. Section I Government Corporations and Other BusinessType Activities Table GAI. Statements of Income and Expense for the Six Months Ended December 3, 970 (Continued) (In thousands of dollars) Veterans Administration (Continued) Rental, Servicemens Service Soldiers Veterans Veterans maintenance, group life disabled and Supply reopened special and repair insurance veterans' sailors' fund insurance lifa of quarters fund insurance civ il (PE) fund insurance (PE) (PE) fund (PE) relief (PE) (PE) fund (PS) Income: Interest: INCOME AND EXPENSE Expense: Direct cost of goods and services sold: _ 67,30,83 6, ,68 6,68 _ 7,38 6, , , ,063 6,930.68,96 3,7 4, 6,9 Increase ( ), or decrease, In: Interest expense: Interest on borrowings from the U. S ,7 09 _ _ 33 _ 43 Other ,78 9,084 69,34 7,7 89 _ 39 03,063 9,084 _ 68,78,8 7.7 Other gains, or losses ( ) : 6 _# Gain, or loss ( ), on sale o f fixed assets. _ Gain, or loss ( ), on sale of other assets. _ 6 # 7 7 Net Income, or loss ( ), before change In 9, ,64 6,40 Increase ( ), or decrease, in allowances for losses: _ Allowance for losses on acquired security or collatera l... _ Other... 4,38,976 6,64 Net increase ( ), or decrease, in 4,38,976 6,64 9 _ Charges ( ), or credits, applicable to 6,9 7 8,666 4 _ Net income, or loss ( ), transferred to accumulated net income, or d e ficit ( ) ,9 7 8,666 4 CHANGES IN ACCUMULATED NET INCOME OR DEFICIT Balance at end of previous fisca l year... 4,690, ,48,06 Net income, or loss ( ) 9 6,9 7 8,666 4 Capital transfers of earnings or profits to the U. S. Treasury ( )... Other...,400 _ Balance at end of reporting p e r i o d... 9 _ 8.8, t9U,908 Footnotes at end of Section. (Continued on following page)

152 April FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS, Section I Government Corporations and Other BusinessType Activities Table GAI. Statements of Income and Expense for the Six Months Ended December 3, 970 (Continued) (In thousands of dollars) Veterans Other independent agencies Administration^ C ivil Service Commission ExportImport Farm Credit ( Continued) Bank of the Retired Administration Account United States Vocational Employees' Employees' employees Banks for rehabilitation health life Revolving health Regular cooperatives revolving benefits insurance fund (IR) benefits lending investment fund (PE) fund (TR) fund (TR) fund (TR) a ctivities (PE] fund (PE) INCOME AND EXPENSE Income: Sales of and services 0,033 Interest: On public debt securities 3,078,36,60 Other interest income 3,00 7, _ 0 60,899 _ Guaranty inmirtmo? premiums,80 _ Other major income items 480,66 00,98 _ 6,336 3 _ 487,33 30,84 0,033 7,646 6,70 Expense: Direct cost of goods and services sold: Cost of commodities sold... Materials applied Wages and salaries applied 7,76 Other applied expenses,664 Increase ( ), or decrease, in: WorkInprocess. 8 Finished goods _ 40 Other operating expenses «I Depreciation _ Administrative eaq>ense ,76 Grants >n^ contributions Interest expense: Interest on borrowings from the U. S. Treasury 4,46 Other Other major expense items 466,446 30,940 6,3 36 expense 467,9 3,44 0,448 6,6 04,460 Other gains, or losses ( ) : Chargeoffs _ 3 Gain, or loss ( ), on sale of fixed assets Gain, or loss ( ), on sale of other assets Other... Net Income, or loss ( ), before change in,07 3 _ 0, ,09 8,39 _ Increase ( ), or decrease, in allowances for losses: Allowance for losses on loans Allowance for losses on acquired security or collateral... Allowance for losses on fixed assets _ Allowance for losses on inventories _ Other... Net increase ( ), or decrease, in. _ Net income, or loss ( ), for the period... _ 0, ,09 8,39 Charges ( ), or credits, applicable to 0 Net income, or loss ( ), transferred to accumulated net income, or d e ficit ( )... _ 0, ,09 8,9 CHANGES IN ACCUMULATED NET INCOME OR DEFICIT Balance at aid of previous fis c a l year... Net Income, or loss ()# Capital transfers of earnings or p rofits to the U S. Treasury ( ) 30,378 0,04 48, ,93,09,9,46 8,9 0,000 Other... _ Balance at end of reporting period 0,39 48,96 8 3,003,303,776,909 _,909 Footnotes at end of Section. (Continued on following page)

153 48 Treasury Bulletin Income: Interest:.FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS, Section I Government Corporations and Other BusinessType Activities Table GAI. Statements of Income and Expense for the Six Months Ended December 3,970 (Continued) (In thousands of dollars) Other independent agencies (Continued) Farm Credit Administration Federal Home Loan Interstate (Continued) Federal Bank Board 33/ Commerce National Deposit Account Revolving Shortterm Insurance Federal Savings Commission Credit Union fund for credit Corporation and Loan admini str ative investment Insurance Revolving Repayment of Admini stration (TR) expenses (PE) fund (PE) Corporation (PE) fund (PE) loan guaranties (PE) (G&S) INCOME AND EXPENSE Expense: Direct cost of goods and services sold: Increase (), or decrease, In: Interest expense: Interest on borrowings from the U. S. Other gains, or losses (): 3,97 4,3 6,4 7,337 _ 8,48 9,60 _,90 6, _ 34,90 _ 96,686 38, _,70 8,36 7, , ,4 3,84 _ 40,88 U 497,49,3 49,389 0,994 3,906 Gain, or loss (), on sale of fixed assets. 33 Gain, or loss (), on sale of other assets. other gains, or losses () _ Net Income, or loss (), before change in Increase (), or decrease, in allowances for losses: Allowance for losses on acquired security 8 S = S S S SBB = = =» =. BBSS 4 74, 89, Allowance for losses on inventories... Other... 9,400,043 Net increase (), or decrease, In Charges (), or credits, applicable to 0 9,400,4 4 6, ' 3, 89 ^ =SS=S^ = = _,37 Net Income, or loss (), transferred to accumulated net income, or deficit () ,6 68, 89 CHANGES IN ACCUMULATED NET INCOME OR DEFICIT Balance at end of previous fiscal year ,9 4,3,043,83,,784,673,406 Net income, or loss I ) ,6 68, 89 Capital transfers of earnings or profits to the U. S. Treasury ()... _. 8 8,90 Footnotes at end of Section. 43.8,9 4,379,70,90,84,49,673,46 (Continued on following page)

154 A p r i l Income: Interest: Account INCOME AMD EXPENSE.FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS, Section I Government Corporations and Other BusinessType Activities Table GAI. Statements of Income and Expense for the Six Months Ended December 3, 970 (Continued) (In thousands of dollars) Business loan and investment fund (PE) Other independent agencies (Continued) Small Business Administration Disaster loan fund (PE) Lease guarantees revolving fund (PE) Tennessee Valley Authority (PE) United States Information Agency Informational media guaranty fund (PE) _ 68,49 _ 4,46 6,879, , ,774 8,47 6, ,80 Expense: Direct cost of goods and services sold: Cost of commodities sold... Materials applied....,77 Wages and salaries applied......,48 0,447 Increase (), or decrease, in: 3 _ 3, ,60 _ 43,3,779,978 99,97 Interest expense: Interest on borrowings from the U. S., ,988 / 3,46 /,4 _,688 9 _ 84,40 9, , Other gains, or losses ( ) 8,70,437 _ Gain, or loss (), on sale of fixed assets. _ 3 63 Gain, or loss (), on sale of other assets. _ _ 8,0,46 Net income, or loss (), before change in Increase (), or decrease, in allowances for losses: Allowance for losses on acquired security 34,89 4,08 7, _,830 _ Allowance for losses on fixed assets... Other ,338 Net increase (), or decrease, in 4JS,,,830 Net income, or loss (), for the period... 39,34,888 7, Charges (), or credits, applicable to 8,334 Net income, or loss (), transferred to accumulated net income, or deficit ()... 47,67,888 8,900 6/ 347 CHANGES IN ACCUMULATED NET INCOME OR DEFICIT Balance at end of previous fiscal year... 7, 83, ,83,898 Net income,or loss () 47,67,888 8, Capital transfers of earnings or profits _ 3,73 _ Other... 4,399 Balance at end of reporting period... 74,78 4, ,79 6,4 Footnotes at end of Section.

155 0 Treasury Bulletin Account FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS, Section I Government Corporations and Other BusinessType Activities Table GAI3. Statements of Source and Application of Funds for the Six Months Ended December 3, 970 (In thousands of dollars) / Legislative Branch Government Printing Office (IR) Appalachian housing fund (PE) Funds appropriated to the President Office of Agency for International Economic X/OVviU yiuciio Opportunity Economic opportunity loan fund (PE) Liquidation of foreign military sales fund (IR) Acquisition of property revolving fund (IR) Alliance for Progress, development loans (PE) FUNDS APPLIED TO OPERATIONS Acquisition of assets:,79,49 68,4 8,00 8,749 Cost of security or collateral acquired. 36,43 4 _ Purchase, construction, or improvement 39,693 6 Purchase of securities other than public debt and issues of wholly owned Govern 6,30 309,68 7,476 6,903,6 6 68,9,480 _ Operating and other expenses (excluding 8,749 0,6,763 0,84,9 9,73,46 694,37,364 _ 7,8 79 4, funds applied to operations... 8,49,46,4 70 4,0 3,794,8 33,446 FUNDS PROVIDED BY OPERATIONS Realization of assets: Sale of acquired security or collateral.. 4,7,46 73,33 47,68,877 38,73,064 6 Sale of securities other than public debt and issues of wholly owned Government,34 7,96 _ realization of assets... 4,877, ,3 47,68 _,877 7,6,97 6,040,0 6,47 80,9,00,96,04 _ funds provided by operations... Net effect of operations on expenditures 3,343,704 6, ,60 &,7SL 80 4,006 (excess of funds applied, or provided ()) 4,90,78 6, ,40 79,0,399 9,44 FUNDS PROVIDED BY FINANCING Increase in investment of the U. S. Government: Capital and surplus advances from the increase in investment of the U. S. 8,86,407,000 0,00 6,498,9 4,64 _ 67,67,606,87,000 0.,00 73,903 _ 3,434 Decrease in selected cash and fund balances 690,493 79,0,399 6,94 7,044,68, ,0,399 9,44 FUNDS APPLIED TO FINANCING Decrease in investment of the U. S. Government: Appropriations lapsed, rescinded, or 34 Repayment of borrowings from the U. S.,67,79 Repayment of capital and surplus advances from the U. S. Treasury... 63,90 Distribution of earnings to the U. S.,087,40 7,098 General and special fund revenues 44,386 6,049 _ decrease in investment of the U. S. 7,338,99 7,098 Decrease in borrowings from the public... 69,09 Increase in investment holdings.. 609,40 _ Increase in selected cash and fund balances 3,3,47 8, ,40 Net effect of financing (excess of funds,38,900,94 X 4,40 4,90,78 6^ riisafl 79,0,399 9,44 Footnotes at end of Section. (Continued on following page)

156 April 97 Account.FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS. Section I Government Corporations and Other BusinessType Activities Table GAI3. Statements of Source and Application of Funds for the Six Months Ended December 3, 970 (Continued) (In thousands of dollars) Common defense, economic, and triangular trade loans (G&S) Development loans (PE) Funds appropriated to the President (Continued) Agency for International Development (Continued) Development Foreign Foreign Loans of loan fund currency loans investment predecessor liquidation Private guaranty agencies in account enterprises fund liquidation (PE) (G&S) / (PE) (G&S) Other loans (G&S) FUNDS APPLIED TO OPERATIONS Acquisition of assets: 4,4 9, ,36 6,4 Cost of security or collateral acquired. 3 Purchase, construction, or improvement _ Purchase of securities other than public debt and issues of wholly owned Govern 4,4 9, ,36 3 6,4 Operating and other expenses (excluding,330, ,99 4,78 8 Increase In selected working capital... 37,679.39,79 3 3,3 98,649,634 0,086,994 0,73 6,6 FUNDS PROVIDED BY OPERATIONS Realization of assets: 6,0 6,7 4,43 7,3 3,66 6,087 Sale of acquired security or collateral 4 Sale of securities other than public debt and issues of wholly owned Government 6,0 6,7 4,43 7,3 4 3,66 6,087 _ 49,443 6,94 4,699 6,038 3,47 6,38,030,838 0, funds provided by operations... 6,43 34,963 70,4 4,40 3,907 49,948,7 Net effect of operations on expenditures (excess of funds applied, or provided ()),4 37/ 63,686 64,608 37/ 4, 8/,93 39,3 7/ 4,83 7/ FUNDS PROVIDED BY FINANCING Increase in investment of the U. S. Government: Capital and surplus advances from the increase in Investment of the U. S. 80,000 _.. 0,4 0,4 80,000 _ Decrease in Investment holdings... _ Decrease in selected cash and fund balances,73 funds provided by financing... 0,4 80,000,73 FUNDS APPLIED TO FINANCING Decrease in investment of the U. S. Government: Appropriations lapsed, rescinded, or 73 Repayment of borrowings from the U. S... 9,97 _ Repayment of capital and surplus advances from the U. S. Treasury Distribution of earnings to the U. S.. _ General and special fund revenues 4,7 9/,784 /,973 / _ 7,4 /,6 / Other...,70,8 4,64 decrease in investment of the U. S. 60,43 _,784 4, 4,64 7,7,93 Decrease in borrowings from the public... Increase In investment holdings... Increase in selected cash and fund balances, 6,34 8,83,04,99 Net effect of financing (excess of funds 6,63 6,34 64,60^ 4, 4,64 39,3 4, M l,437/ !/ 4J. J8/,93 39,3 7/ 4,83 7/

157 Treasury Bulletin Account FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS, Section I Government Corporations and Other BusinessType Activities Table GAI3. Statements of Source and Application of Funds for the Six Months Ended December 3, 970 (Continued) (In thousands of dollars) Funds appropriated to the Agriculture Department President Agricultural Consumer and (Continued) Research Commodity Marketing Expansion Service Credit of defense Overseas Private Investment capital (PE) Milk market Service Working Corporation production Corporation fund (IR) orders assess (PE) (PE) 6/ Farmers Home Administration Agricultural credit insurance fund (PE) Direct loan account (PE) FUNDS APPLIED TO OPERATIONS Acquisition of assets:,7,6 73,83 49,390 Cost of security or collateral acquired Purchase, construction, or improvement _ 67 Purchase of securities other than public debt and issues of wholly owned Govern Other ,7,340 73,94 49,66 Operating and other expenses (excluding.,846 3,690,60 8,340,978 3,43 3,989 37,30,43 _,93,40,93 9,483, ,37 73,60 FUNDS PROVIDED BY OPERATIONS Realization of assets: 997, ,000 /&/ 74,36 Sale of acquired security or collateral. " 3 8 ~ Sale of securities other than public debt and issues of wholly owned Government,0 # 80,00, ,03 74,398,67,833 88,484 9,483 3,679 37,97 4,967 6,766 7., 9,486 funds provided by operations... 6,34.?,9?..,860,8 9,483, ,307 3,84 Net effect of operations on expenditures (excess of funds applied, or provided ()) 6, ,89, ,93 40,36 FUNDS PROVIDED BY FINANCING Increase in investment of the U. S. Government: 8,70 3,363, Borrowings from the U. S. Treasury... 4,787,90 3 3,77 Capital and surplus advances from the 4,64 _ ~ ~ increase in Investment of the U. S. 33,39 _ 8,,060 _ 3 3,77 30,70,878 Decrease in selected cash and fund balances 3,438 44,9 FUNDS APPLIED TO FINANCING Decrease In investment of the U. S. Government: Appropriations lapsed, rescinded, or 64,4 8,6,938 3,7 44,9 Repayment of borrowings from the U. S.. _ 4,384,8,647 _ Repayment of capital and surplus advances from the U. S. Treasury Distribution of earnings to the U. S. _ General and special fund revenues _ Other ,39 u / decrease in investment of the U. S. _ 3 4,384,8,647 84,39 Decrease in borrowings from the public... ~ Increase in investment holdings ,30 ~ Increase in selected cash and fund balances, ,339 ~ funds applied to financing... 70, ,67,497,647 84,39 Net effect of financing (excess of funds applied (), or provided)... _. 6,3a. 86 3,?8?a44 _ 3 99,93 40,36 Footnotes at aid of Section. (Continued an following page)

158 April 97 FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I Government Corporations and Other BusinessType Activities Table GAI3. Statements of Source and Application of Funds for the Six Months Ended December 3, 970 (Continued) (In thousands of dollars) Farmers Home Administration (Continued) Agriculture Department (Continued) Emergency Loans, Rural Self help credit salaries, housing housing land revolving and expenses insurance development fund (PE) (G&S) fund (PE) fund (PE) Federal Crop Insurance corporation (PE) / Forest Service Working capital fund (IR) 3 Rural Electrification Administration (G&S) FUNDS APPLIED TO OPERATIONS Acquisition of assets:,06 669,7 68 7,86 Cost of security or collateral acquired Purchase, construction, or improvement 99.,4 34 Purchase of securities other than public debt and issues of wholly owned Govern Operating and other expenses (excluding 3 3, ,79 68,4 7, ,78 3,089 _ 4,6,939 6,300 3,88 4 funds applied to operations...,846 63, , ,066 8,47 337,9 FUNDS PROVIDED BY OPERATIONS Realization of assets: 6,769,4,093 40/ 9 8,78 Sale of acquired security or collateral Sale of fixed assets... 7 Sale of securities other than public debt and issues of wholly owned Government Other ,8, 4, I64 9 _ 78 8,78 Capital stock issued to the public...,48 4,979 4,36 6,70, ,087,774 funds provided by operations... 64,609 67,6,3 4,36 7,478 38,668 Net effect of operations on expenditures (excess of funds applied, or provided ()) 48,763 63,0, ,49 FUNDS PROVIDED BY FINANCING Increase in investment of the U. S. Government: Appropriations enacted... 89, ,000 4,63 300,000 Capital and surplus advances from the U. S. Treasury ,8 3 increase in Investment of the U. S. 89,7 3, 400,997 34,63 Increase in other borrowings... _ Decrease in Investment holdings... _ Decrease In selected cash and fund balances 939 FUNDS APPLIED TO FINANCING Decrease In investment of the U. S. Government: Appropriations lapsed, rescinded, or Repayment of borrowings from the U. S. Repayment of capital and surplus advances from the U. S. Treasury... Distribution of earnings to the U. S. 89,7 3, 400, ,63 General and special fund revenues Other ,76 Qj decrease in Investment of the U. S. 6 0,76 Decrease in borrowings from the public... Increase in investment holdings... Increase in selected cash and fund balances 48,763 6,00 4,0 34,47 3,83 Net effect of financing (excess of funds 84,939 a N? to 48,763 6, 34,86 34,47 6, 48,763 63,0, ,49 Footnotes at end of Section. (Continued on following page)

159 4 Treasury Bulletin Account FUNDS APPLIED TO OPERATIONS Acquisition of assets: FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I Government Corporations and Other BusinessType Activities Table GAI3. Statements of Source and Application o f Funds for the Six Months Ended December 3, 970 (Continued) (In thousands of dollars) Agriculture Department (Continued) Working capital fund (IR) Commerce Department Economic Maritime Administration National Development Administration Maritime Federal ship Vessel Warrisk Bureau of Standards mortgage operations insurance Administration Economic development revol revolving fund fund capital insurance revolving revolving Working (G&S) ving fund (PE) fund (PE) (PE) (PE) fund (IR) Cost of security or collateral acquired. ~ Purchase, construction, or improvement 4 46 Purchase of securities other than public debt and issues of wholly owned Govem Operatlng and other expenses (excluding 70, ,47 477,496,8 0,098 3, , , 3,8,44,64 9,3 83,74 3, ,06 FUNDS PROVIDED BY OPERATIONS Realization of assets: 4,0, _ Sale of acquired security or collateral. #,0 6 Sale of securities other than public debt and issues of wholly owned Government _. 4,0 3, ,8 6,9,863,7 3, ,70,04 69 funds provided by operations...,8,430,067 4,79 4, 3 38,707 Net effect of operations on expenditures (excess of funds applied, or provided ()) 70,08 68,687 4, ,34 FUNDS PROVIDED BY FINANCING Increase in investment of the U. S. Government: Appropriations enacted ,07 Capital and surplus advances from the U. S. Treasury... increase in investment of the U. S. 43,07 Decrease In selected cash and fund balances 06,34 FUNDS APPLIED TO FINANCING Decrease In investment of the U. S. Government: Appropriations lapsed, rescinded, or 43,07 06,34 Repayment of borrowings from the U. S. _ Repayment of capital and surplus advances from the U. S. Treasury... Distribution of earnings to the U. S. _ General and special fund revenues 4,479 decrease in investment of the U. S. 4,479 Decrease in borrowings from the public... Increase in investment holdings... 4,6 0 Increase in selected cash and fund balances 70,08 47, funds applied to financing... 70,08 6,388 4, Net effect of financing (excess of funds applied (), or provided)... 70,08 68,687 4, ,34 Footnotes at end of Section. (Continued on following page)

160 April 97 FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS, Account FUNDS APPLIED TO OPERATIONS Acquisition of assets: Section I Government Corporations and Other BusinessType Activities Table GAI3. Statements of Source and Application of Funds for the Six Months Ended December 3, 970 (Continued) (In thousands of dollars) Commerce Department (Continued) Defense Department National Oceanic and Atmospheric Military Administration / Working aa h rurue jjupelloiuoiiu n_ Federal ship capital mortgage Fisheries Fishermen's insurance fund, loan fund protective fund (IR) Defense Industrial Stock production fund (IR) fund fishing vessels (PE) fund (PE) guarantees (PE) / (IR) Cost of security or collateral acquired. Purchase, construction, or improvement _ 48 3,460 Purchase of securities other than public debt and issues of wholly owned Govern 3 _ 6 _ 3,460 _ Operating and other expenses (excluding Increase in selected working capital ,04,76,09,444,748 74,9 7 4,666,4,60,444,748 FUNDS PROVIDED BY OPERATIONS Realization of assets: Repayment of loans Sale of acquired security or collateral.. Sale of securities other than public debt and issues of wholly owned Government _ 76 Capital stock issued to the public... _ ,688 0,00,,443, funds provided by operations ,86 87,00,,474,9 Net effect of operations on expenditures (excess of funds applied, or provided ()) ,38 9,44 FUNDS PROVIDED BY FINANCING Increase in investment of the U. S. Government: 60 Capital and surplus advances from the _ increase in Investment of the U. S. _ 60. Decrease in selected cash and fund balances 4,38 FUNDS APPLIED TO FINANCING Decrease in investment of the U. S. Government: Appropriations lapsed, rescinded, or Repayment of borrowings from the U. S. Repayment of capital and surplus advances from the U. S. Treasury... Distribution of earnings to the U. S. General and special fund revenues decrease in investment of the U. S. _ _.. Decrease in borrowings from the public... _ Increase in investment holdings... _ Increase in selected cash and fund balances ,44 funds applied to financing ,44 Net effect of financing (excess of funds ,38 9,44 Footnotes at end of Section. (Continued on following page)

161 6 Treasury Bulletin FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I Government Corporations and Other BusinessType Activities Table GAI3. Statements of Source and Application o f Funds for the Six Months Ended December 3,970 (Continued) (In thousands of dollars) Defense Department (Continued) Military (Continued) Air Force Department (Cont.) Army Department Navy Department Surcharge collections, sales production Industrial production Industrial Defense Defense Air Force of commissary Cadet fund (TR) / guarantees fund (IR) / guarantees fund (IR) / stores (TR) 3/ (PE) (PE) Marine Corps Industrial fund (IR) / FUNDS APPLIED TO OPERATIONS Acquisition of assets: 3,70 Cost of security or collateral acquired. Purchase, construction, or improvement Purchase of securities other than public debt and issues of wholly owned Govern _ 3,70 Operating and other expenses (excluding 9,440 7,4 634, ,4,03,04 funds applied to operations.... 9,488 7, ,0 3,736,4,03,04 FUNDS PROVIDED BY OPERATIONS Realization of assets: Sale of acquired security or collateral. 3,73 Sale of securities other than public debt and Issues of wholly owned Government _ 3,73 Capital stock issued to the public...,06 8,3 66,79 43,983,89,9 0,8 97,47,89 funds provided by operations...,06 8,3 67,644 3,866,08,77 3, Net effect of operations on expenditures (excess of funds applied, or provided ()),9 4 6, ,736,8 FUNDS PROVIDED BY FINANCING Increase in investment of the U. S. Government: Appropriations enacted... Borrowings from the U. S. Treasury... Capital and surplus advances from the U. S. Treasury increase in investment of the U. S. Decrease in investment holdings... _ Decrease in selected cash and fund balances 6,408 4,736 FUNDS APPLIED TO FINANCING Decrease in investment of the U. S. Government: Appropriations lapsed, rescinded, or Repayment of borrowings from the U. S. 6,408 4,736 Repayment of capital and surplus advances from the U. S. Treasury... Distribution of earnings to the U. S. _. General and special fund revenues decrease in investment of the U. S. Decrease in borrowings from the public... Increase In Investment holdings... _ Increase In selected cash and fund balances,9 4 30,8 Net effect of financing (excess of funds,9 4 30, , ,736,8 Footnotes at end of Section. (Continued on following page)

162 April 97 7 Account FUNDS APPLIED TO OPERATIONS Acquisition of assets: Loans made... Cost of security or collateral acquired. Purchase, construction, or improvement of fixed assets... Purchase of securities other than public debt and issues of wholly owned Government enterprises... Other.... acquisition of assets Operating and other expenses (excluding depreciation)... Increase in selected working capital... funds applied to operations... FUNDS PROVIDED BY OPERATIONS Realization of assets: Repayment of loans... Sale of acquired security or collateral. Sale of fixed assets... Sale of securities other than public debt and issues of wholly owned Government enterprises... Other... realization of assets... Capital stock issued to the public... Income... Decrease in selected working capital..... funds provided by operations... Net effect of operations on expenditures (excess of funds applied, or provided ()) FUNDS PROVIDED BY FINANCING Increase in investment of the U. S. Government: Appropriations enacted.... Borrowings from the U. S. Treasury... Capital and surplus advances from the U. S. Treasury... Other... increase in investment of the U. S. Government Increase in other borrowings... Decrease in Investment holdings... Decrease in selected cash and fund balances funds provided by financing.... FUNDS APPLIED TO FINANCING Decrease in investment of the U. S. Government: Appropriations lapsed, rescinded, or transferred... Repayment of borrowings from the U. S. Treasury... Repayment of capital and surplus advances from the U. S. Treasury... Distribution of earnings to the U. S. Treasury General and special fund revenues deposited... Other... decrease in investment of the U. S. Government... Decrease in borrowings from the public... Increase in investment holdings... Increase in selected cash and fund balances funds applied to financing... Net effect of financing (excess of funds applied (), or provided)....financial OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS. Section I Government Corporations and Other BusinessType Activities Table GAI3. Statements o f Source and Application o f Funds for the Six Months Ended December 3, 970 (Continued) (In thousands of dollars) Defense Department (Continued) Military (Continued) Marine Corps (Continued) Stock fund (IR) Navy Department (Continued) U.S. Naval Academy Midshipmen s commissary (TR) 96,07 97 Midshipmen's store (TR) 3 3, ,07,068 3,3 9,774 8, , ,06 I46 6,06, , Stock fund (IR) 69,0 4,660 Family housing Homeowners assistance fund (PE) 4,67 80,70 4,89 88,86,93 88,86,93 6,69,69 6,69,7,7 3 6,69 3 6,69,69 Defense agencies 4/ Defense industrial fund (IR) / / 9,478,89 03,067 90, 90,,96,96,96,96 Defense stock fund (IR) A/,40,9,40,9,8,79 68,738,3,30,300,300,300,300 Footnotes at end of Section. (Continued on following page)

163 8 Treasury Bulletin Account FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I Government Corporations and Other BusinessType Activities Table GAI3. Statements of Source and Application o f Funds for the Six Months Ended December 3, 970 (Continued) (In thousands of dollars) Defense Department (Continued) Health, Education, and Welfare Department Civil CPEHS 7/ Office of Education iealth Services (VMental jcivicxiucix Health ncax 0 Corp of Engineers (IR) A i w Department Revolving Higher Student fund for education Panama Canal United States loan certification Panama Canal facilities Soldiers Home insurance and other loans Company revolving fund services (PE) fund (PE) fund (PE) fund (TR) (PE) Administration Narcotic hospitals forking ccapital fund (IR) FUNDS APPLIED TO OPERATIONS Acquisition of assets:,6 4,03 Cost of security or collateral acquired. Purchase, construction, or improvement 6,769 6,3 _ 39 Purchase of securities other than public debt and issues of wholly owned Govern Operating and other expenses (excluding 6,769 6,3 39,6 4,03 90,69 8,839 90,84 4, ,89, ,6 89,49 94,09 36,37 4,04 49 FUNDS PROVIDED BY OPERATIONS Realization of assets: 3,00 36 Sale of acquired security or collateral.. Sale of fixed assets Sale of securities other than public debt and issues of wholly owned Government Other _ 3,00 36 _ 30,09 89,40 90,98 6, , funds provided by operations... 30,967 89,467 90,98 8, Net effect of operations on expenditures (excess of funds applied, or provided ()), ,778 3,36 FUNDS PROVIDED BY FINANCING Increase in investment of the U. S. Government: Capital and surplus advances from the,476 8,000 _ increase in investment of the U. S. _..,476 8,000 _ Decrease in investment holdings Decrease in selected cash and fund balances,89 3 8,696 FUNDS APPLIED TO FINANCING Decrease in investment of the U. S. Government: Appropriations lapsed, rescinded, or Repayment of borrowings from the U. S.,89 3 0,7 8,400 Repayment of capital and surplus advances from the U. S. Treasury... Distribution of earnings to the U. S. General and special fund revenues deposited...,39444 f I decrease in investment of the U. S., \,394 Decrease in borrowings from the public... Increase in investment holdings... Increase in selected cash and fund balances 8 90, ,394,038 Net effect of financing (excess of funds applied (), or provided) Footnotes at end of Section. (Continued on following page)

164 April 97 Account FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I Government Corporations and Other BusinessType Activities Table GAI3. Statements of Source and Application of Funds for the Six Months Ended December 3, 970 (Continued) (In thousands of dollars) Health, Education, and Welfare Department (Continued) HUD Health Services and Mental National Institutes of Health Departmental Renewal and Health Administration management housing Health Nurse Service assistance Operation of Service professions training and Working commissaries, and education fund supply College capital narcotic supply fund (PE) (PE) fund (IR) housing fund (IR) 9/ hospitals (PE) fund (IR) loans (PE) FUNDS APPLIED TO OPERATIONS Acquisition of assets: Logins made _,8 Cost of security or collateral acquired.. Purchase, construction, or improvement Purchase of securities other than public debt and issues of wholly owned Government enterprises. Other _ acquisition of assets _,48 Operating and other expenses (excluding FUNDS PROVIDED BY OPERATIONS Realization of assets: Sale of acquired security or collateral.. Sale of fixed assets. Sale of securities other than public debt and issues of wholly owned Government enterprises ,3, , ,79 7,093 3,076 3,870 ol l CQO /J EEC 4, _ 6,369 4,3 realization of assets ,89 Capital stock issued to the public. _. Income. 7, ,034, funds provided by operations , ,034 03,340 Net effect of operations on expenditures (excess of funds applied, or provided ()) ,,0 FUNDS PROVIDED BY FINANCING Increase in investment of the U. S. Government: Appropriations enacted.,00 Borrowings from the U. S. Treasury... Capital and surplus advances from the U. S. Treasury. «Other. increase in investment of the U. S. _ Government ,00 Increase in other borrowings Decrease in investment holdings Decrease in selected cash and fund balances , 63,96 funds provided by financing 367 J? OCR? 3 j, y< 6,796 FUNDS APPLIED TO FINANCING Decrease in investment of the U S. Government: Appropriations lapsed, rescinded, or transferred Repayment of borrowings from the U S Treasury _ Repayment of capital and surplus advances from the U S. Treasury... Distribution of earnings to the U"S. Treasury. General and special fund revenues deposited. Other. 8 44/ 44/ 4,69 44/ decrease in investment of the U. S. Government 8 4,69 Increase in investment holdings... Increase in selected cash and fund balances funds applied to financing 0 OO 4,69 Net effect of financing (excess of funds ,,0 9 Footnotes at end of Section. (Continued on following page)

165 60 Treasury Bulletin Account FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I Government Corporations and Other BusinessType Activities Table GAI3. Statements of Source and Application o f Funds for the Six Months Ended December 3, 970 (Continued) (In thousands of dollars) Housing and Urban Development Department (Continued) Renewal and housing assistance (Continued) Metropolitan development Lowrent public housing (PE) Rehabilitation loan fund (PE) Urban renewal programs New communities guarantee fund (PE) Public facility loans (PE) Public works planning advances fund (PE) Revolving fund, liquidating programs (PE) FUNDS APPLIED TO OPERATIONS Acquisition of assets: 303,704. 0,34 34,4,38,48 Cost of security or collateral acquired. 7 Purchase, construction, or improvement Purchase of securities other than public debt and issues of wholly owned Govern Operating and other expenses (excluding 3 303,704 0,64 3a, 4 _,38,48 _ 6, ,39 0,07 63,304 9,088,937 I64 7,460 0,976 76,4 37,33,483 7 FUNDS PROVIDED BY OPERATIONS Realization of assets: 93,748,98 8,479,667,77 3 Sale of acquired security or collateral. 7 Sale of fixed assets... Sale of securities other than public debt and issues of wholly owned Government 3,49 93,7,934 8,479 4,63,77 3 6,497,40 3,3,080 8, funds provided by operations... 00,48 4,339 7,830,080,7,7 60 Net effect of operations on expenditures (excess of funds applied, or provided ()) 37, 6, ,6,068 4, FUNDS PROVIDED BY FINANCING Increase in investment of the U. S. Government: Appropriations enacted... 64,00 3,000,00,000 Borrowings from the U. S. Treasury... 40,000 0,000 Capital and surplus advances from the _.. _ increase in investment of the U. S. 794,00 3,000, 00,000 0,000 Decrease in selected cash and fund balances 6,83 76 funds provided by financing ,00 3,000, 00,000 6,$3 76 FUNDS APPLIED TO FINANCING Decrease in investment of the U. S. Government: Appropriations lapsed, rescinded, or transferred Repayment of borrowings from the U. S. _ Repayment of capital and surplus advances from the U. S. Treasury... _ Distribution of earnings to the U. S. 36 General and special fund revenues _. Other...,870 decrease in investment of the U. S. Government... 36,870 Decrease in borrowings from the public... Increase in investment holdings... _ Increase in selected cash and fund balances 43, 8,363 7,379, funds applied to financing... Net effect of financing (excess of funds applied (), or provided) ,88 8,363 7,379,068, , 6, ,6,068 4, Footnotes at end of Section. (Continued on following page)

166 April 97 Account FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I Government Corporations and Other BusinessType Activities Table GAI3. Statements of Source and Application o f Funds for the Six Months Ended December 3, 970 (Continued) (In thousands of dollars) Housing and Urban Development Department (Continued) Mortgage credit Federal :Housing Administ:ration Community disposal operations fund (PE) land sales fund (G&S) Government National Low and Rental Mortgage Ass3ociation moderate housing Revolving Guarantees of income sponsor assistance fund (PE) mortgagebacked pecyrities fund fund (PE) fund (PE) 6 Management and liquidating functions (PE) FUNDS APPLIED TO OPERATIONS Acquisition of assets:,00 3,33 Cost of security or collateral acquired. 309,444 Purchase, construction, or improvement _ 93 _ 6 Purchase of securities other than public debt and issues of wholly owned Govern Operating and other expenses (excluding,00 309,738 3, ,7 9, ,470 0, , ,63 FUNDS PROVIDED BY OPERATIONS Realization of assets: ,63 Sale of acquired security or collateral.. 9,34 ' 3 Sale of securities other than public debt and issues of wholly owned Government 4 0,68 60 _ 39 _ 0,030 _ 66,63 Capital stock issued to the public , ,783 Decrease in selected working capital ,398 funds provided by operations , ,48 Net effect of operations on expenditures (excess of funds applied, or provided ()) ,68 33, FUNDS PROVIDED BY FINANCING Increase in investment of the U. S. Government: Appropriations enacted... 3,000 Borrowings from the U. S. Treasury... 33, ,30 Capital and surplus advances from the _. _. increase in investment of the U. S. _. 3,000 _ 33, ,30 Increase in other borrowings... 7,7 Decrease in Investment holdings...,36,4 Decrease in selected cash and fund balances 43 3,000 4,8 44,84 FUNDS APPLIED TO FINANCING Decrease in investment of the U. S. Government: Appropriations lapsed, rescinded, or Repayment of borrowings from the U. S. Treasury ,890 Repayment of capital and surplus advances from the U. S. Treasury... Distribution of earnings to the U. S. General and special fund revenues,964 {&/ decrease in investment of the U. S. 466,84 Decrease in borrowings from the public... 47,734 8, Increase in investment holdings ,47 Increase in selected cash and fund balances 864 6,7 48 7,448 Net effect of financing (excess of funds applied (), or provided) , ,49 47, ,68 33, Footnotes at end of Section. (Continued on following page)

167 6 Treasury Bulletin FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I Government Corporations and Other BusinessType Activities Table GAI3. Statements of Source and Application of Funds for the Six Months Ended December 3, 970 (Continued) (In thousands of dollars) Housing and Urban Development Department (Continued) Interior Mortgage credit (Continued) Federal Insurance Departmental Department Government National Mortgage Administrat ion management Account Association (Continued) Housing for the elderly National National Working Participation Special or handicapped flood insurance capital sales fund assistance (PE) insurance development fund (PE) functions (PE) fund (PE) fund (PE) (IR) FUNDS APPLIED TO OPERATIONS Acquisition of assets: Alaska Power Administration (G&S) 73,3 3.0U9 Cost of security or collateral acquired. 86 Purchase, construction, or improvement ll3 Purchase of securities other than public debt and issues of wholly owned Govern,30 8,0 Operating and other expenses (excluding FUNDS PROVIDED BY OPERATIONS Realization of assets: 30,39 73,3 3, ,^66 3,0 99,737 6,03 0 3,67, ,6 380,368,0 99,7 6,7 869 Sale of acquired security or collateral. 67,U63 M 6 Sale of securities other than public debt and issues of wholly owned Government,30,387 _,30 67,^63,7 8,866 76,96 7,08 0 0,996, ^,993 l 70 funds provided by operations... 36,09 l +,378 3,9 39 0,996 6, Net effect of operations on expenditures (excess of funds applied, or provided ()) ^,993 3,990 7, , FUNDS PROVIDED BY FINANCING Increase in investment of the U. S. Government: 0,000,000 Borrowings from the U. S. Treasury... 37,60 6 Capital and surplus advances from the 76,909 J6/ ~ 8 Increase in investment of the U. S. 76,909 37,6^0 0,000 6,8 3,37 Decrease in selected cash and fund balances,9 6 8,7,7 00 FUNDS APPLIED TO FINANCING Decrease In investment of the U. S. Government: Appropriations lapsed, rescinded, or Repayment of borrowings from the U. S , ,7 00,8 _,87 Repayment of capital and surplus advances from the U. S. Treasury... _ Distribution of earnings to the U. S. General and special fund revenues 669,73 u y U M/ decrease in investment of the U. S. _ 3,760 U _ 679 Decrease in borrowings from the public... 3,3 Jg/ Increase in investment holdings... 83,6 30 0,000 Increase in selected cash and fund balances 6 83,6 8,03 6 0,000,0 Net effect of financing (excess of funds applied (), or provided)... ^,993 3,990 7, , Footnotes at end of Section. (Continued on following page)

168 April Account FUNDS APPLIED TO OPERATIONS Acquisition of assets: Cost of security or collateral acquired, Purchase, construction, or improvement Purchase of securities other than public debt and issues of wholly owned Govem Operating and other expenses (excluding FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I Government Corporations and Other BusinessType Activities Table GAI3. Statements of Source and Application of Funds for the Six Months Ended December 3, 970 (Continued) (In thousands of dollars) Bonneville Power Administration (G&S) 4,607 Interior Department (Continued) Bureau of Indian Affairs Bureau of Bureau of Reclamation Mines Fund for emer Upper Lower Revolving Liquidation of gency expenses. Colorado Colorado fund for Hoonah housing Helium Fort Peck River River Basin loans (PE) project (PE) fund (PE) Project, Basin Development Montana (PE) fund (PE) fund (PE),8 76 4,49 0,786 3,336 4,607,8 4,67 _ 0,786 3,336 3,847., , ,44,8,90,79 0,79 3,889 FUNDS PROVIDED BY OPERATIONS Realization of assets: 7 Sale of acquired security or collateral. _ Sale of securities other than public debt and issues of wholly owned Government 4 _ 4 7 _ 40,66 3 4,09,896 9, _ funds provided by operations... 60,848, ,88,90 0,673 Net effect of operations on expenditures (excess of funds applied, or provided ()), ,888 FUNDS PROVIDED BY FINANCING Increase in investment of the U. S. Government: Borrowings from the U. S. Treasury...,00,30 7,698 _ Capital and surplus advances from the 4,07 8 increase in Investment of the U. S. 9,707 _ 8,30 7,698 _ Decrease in investment holdings... _ Decrease in selected cash and fund balances , ,30 7,698 FUNDS APPLIED TO FINANCING Decrease in investment of the U. S. Government: Appropriations lapsed, rescinded, or 4 Repayment of borrowings from the U. S.. Repayment of capital and surplus advances from the U. S. Treasury... Distribution of earnings to the U. S. _ General and special fund revenues 9,4. _ decrease in investment of the U. S. 9,86 Decrease in borrowings from the public... Increase in investment holdings... Increase in selected cash and fund balances 44, ,08 3,80 Net effect of financing (excess of funds applied (), or provided)... Footnotes at end of S e c t i o n. ( C o n t i n u e d on following page) 04, ,08 3,80, ,888

169 64 Treasury Bulletin Account FUNDS APPLIED TO OPERATIONS Acquisition of assets: Loans made... Cost of security or collateral acquired. Purchase, construction, or improvement of fixed assets... Purchase of securities other than public debt and issues of wholly owned Government enterprises Other... acquisition of assets... Operating and other expenses (excluding depreciation) Increase in selected working capital... funds applied to operations... FUNDS PROVIDED BY OPERATIONS Realization of assets: Repayment of loans... Sale of acquired security or collateral.. Sale of fixed assets... Sale of securities other than public debt and issues of wholly owned Government enterprises... Other... realization of assets... Capital stock issued to the public... Income... Decrease in selected working capital... funds provided by operations... Net effect of operations on expenditures (excess of funds applied, or provided ()) FUNDS PROVIDED BY FINANCING Increase in investment of the U. S. Government: Appropriations enacted... Borrowings from the U. S. Treasury... Capital and surplus advances from the U. S. Treasury... Other... increase in investment of the U. S. Government... Increase in other borrowings... Decrease in Investment holdings... Decrease in selected cash and fund balances funds provided by financing... FUNDS APPLIED TO FINANCING Decrease in Investment of the U. S. Government: Appropriations lapsed, rescinded, or transferred... Repayment of borrowings from the U. S. Treasury... Repayment of capital and surplus advances from the U. S. Treasury Distribution of earnings to the U. S. Treasury.... General and special fund revenues deposited... Other... decrease in investment of the U. S. Government... Decrease in borrowings from the public... Increase in investment holdings... Increase in selected cash and fund balances funds applied to financing... Net effect of financing (excess of funds applied (), or provided)....financial OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS. Section I Government Corporations and Other BusinessType Activities Table GA>I3. Statements of Source and Application o f Funds for the Six Months Ended December 3, 970 (Continued) (In thousands of dollars) Expansion of defense production (PE) Interior Department (Continued) Office of the Secretary Working capital fund (IR) Southeastern Power Administration (g&s ) Southwestern Power Administration (G&S) 44 90,0,6,804 7,47 0,86,0,83,80 9, _,96, 9,788,066,330,07,96 6,44 9, ,637 9, ,744,409 3, 4, CO OJ , 4,744 4,0 3,463,4 6,436 3,463 4,36 6,847 4, ,637 9,96 Justice Department Federal Prison Industries, Inc. (IR),U73,473,3 4,794 3,44,836, Labor Department Bureau of Employment Security Advances to unemployment trust fund (PE) / 4,808 4,868 8, ,808 4,808 4,808 4,808 Office of the Secretary Working capital fund (IR) 08 H8,886,994,46 9 6, Footnotes at end of Section. (Continued on following page)

170 April 97 6 Account FUNDS APPLIED TO OPERATIONS Acquisition of assets: Cost of security or collateral acquired. Purchase, construction, or improvement FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I Government Corporations and Other BusinessType Activities Table GAI3. Statements of Source and Application of Funds for the Six Months Ended December 3, 970 (Continued) (In thousands of dollars) Post Office State Transportation Department Department Postal fund (PE) 6/ Department Working capital fund (IR) Aviation war risk insurance revolving fund (PE) Federal Railroad Administration Alaska Railroad revolving fund (PE),300 Saint United States Coast Guard Lawrence Seaway Coast Guard Supply Development Cadet fund fund Corporation (TR) (IR) (PE) 3,8 Purchase of securities other than public debt and issues of wholly owned Govern. _ Other..., U _, Operating and other expenses (excluding t,7,uu6 3,339 8,3,384,33,90 Increase in selected working capital... 9,9 34,6 lt,88u,99 3,39 9,6 3,99,33,90 FUNDS PROVIDED BY OPERATIONS Realization of assets:. _ Sale of acquired security or collateral. 4, Sale of securities other than public debt and issues of wholly owned Government _ 33 4, ,7,337 3,87,8 8,07 7,77,369 6,6, funds provided by operations... 3,6,640 3,88 3,864 8,49 7,79,384 6,63 Net effect of operations on expenditures (excess of funds applied, or provided ()),33, ,864,96 3, FUNDS PROVIDED BY FINANCING Increase in investment of the U. S. Government:,676,40 Capital and surplus advances from the increase in investment of the U. S.,676,40 Decrease in investment holdings... Decrease in selected cash and fund balances 07,96 FUNDS APPLIED TO FINANCING Decrease in investment of the U. S. Government: Appropriations lapsed, rescinded, or Repayment of borrowings from the U. S.,676,40 07,96,000 _ Repayment of capital and surplus advances from the U. S. Treasury... Distribution of earnings to the U. S. _ General and special fund revenues _ Other... decrease in investment of the U. S.,000 Decrease in borrowings from the public... Increase in investment holdings... 7 Increase in selected cash and fund balances 33,6 3,864, Net effect of financing (excess of funds 33,6 3,864 3,89 7 7,33, ,864,96 3, Footnotes at end of Section. (Continued on following page)

171 66 Treasury Bulletin FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I Government Corporations and Other BusinessType Activities Table GAI3. Statements of Source and Application o f Funds for the Six Months Ended December 3, 970 (Continued) (In thousands of dollars) Transportation Department (Continued) Treasury Department United States (Continued) Coast Guard Urban Mass Transportation Bureau of Civil defense Expansion Working Account Surcharge Administrat ion Engraving and RFC loans of defense collections, Yard capital Urban mass and Printing in liquidation production sales of fund fund (IR) transportation (IR) (PE) (PE) commissary (IR) fund (PE) stores (TR) FUNDS APPLIED TO OPERATIONS Acquisition of assets: Cost of security or collateral acquired. Purchase, construction, or improvement _ 36 _ _ Purchase of securities other than public debt and issues of wholly owned Govern.. _ Operating and other expenses (excluding ,88,6 3,96 6,73 _ ,74,8 4,308 7,648 FUNDS PROVIDED BY OPERATIONS Realization of assets: 00 4 Sale of acquired security or collateral.. Sale of securities other than public debt and issues of wholly owned Government 00 _ 4 9 8,0 90 3,3 8, funds provided by operations , ,3 8, Net effect of operations on expenditures (excess of funds applied, or provided ()) 4 47, FUNDS PROVIDED BY FINANCING Increase In investment of the U. S. Government: U,000 Borrowings from the U. S. Treasury... ~ Capital and surplus advances from the " increase in investment of the U. S. _ 4,000 Decrease in investment holdings... ~ Decrease in selected cash and fund balances 4 47 " 776 " funds provided by financing , FUNDS APPLIED TO FINANCING Decrease in investment of the U. S. ' Government: Appropriations lapsed, rescinded, or Repayment of borrowings from the U. S. Repayment of capital and surplus advances _ Distribution of earnings to the U. S. General and special fund revenues 6 decrease in investment of the U. S. 6 Decrease in borrowings from the public... " Increase in investment holdings Increase in selected cash and fund balances 6, Net effect of financing (excess of funds 6,336 7 io , Footnotes at end of Section. (Continued on following page)

172 April FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS, Section I Government Corporations and Other BusinessType Activities Table GAI3. Statements of Source and Application o f Funds for the Six Months Ended December 3, 970 (Continued) (In thousands of dollars) Treasury Department (Continued) Internal Office of Revenue Miscellaneous Office of the the Secretary Account Service loans and Comptroller Federal Farm Mortgage Federal tax certain other of the Corporation lien revolving assets (G&S) Currency (TR) liquidation fund (PE) fund (PE) FUNDS APPLIED TO OPERATIONS Acquisition of assets: General Services Administratior Office of the Treasurer Automatic Building Treasurer data management of the U. S., processing fund check forgery fund (IR) (IR) insurance fund (PE^,6 Cost of security or collateral acquired. Purchase, construction, or improvement 8 _ Purchase of securities other than public debt and issues of wholly owned Govem 60, , Operating and other expenses (excluding. 7 7,847 _ 38 7,0 90,4 60, ,433 7, ,7 9,69 FUNDS PROVIDED BY OPERATIONS Realization of assets: 63,4 9 Sale of acquired security or collateral Sale of securities other than public debt and issues of wholly owned Government Other... _ 9 63, ,747 8,^3 38 9,48 86,767 4,73 3 funds provided by operations... 9,,473 8, ,937 86,786 Net effect of operations on expenditures (excess of funds applied, or provided ()) 9 l,o4l,o4o 86 i ,483 FUNDS PROVIDED BY FINANCING Increase in investment of the U. S. Government: 60,6 Borrowings from the U. S. Treasury... Capital and surplus advances from the ~ increase in investment of the U. S. _ 60,6 Decrease in selected cash and fund balances 9, ,483 FUNDS APPLIED TO FINANCING Decrease in investment of the U. S. Government: Appropriations lapsed, rescinded, or Repayment of borrowings from the U. S. 9 8,6 94 4,483 Repayment of capital and surplus advances from the U. S. Treasury... _ 63,4 _ Distribution of earnings to the U. S. _ 997,000 _ General and special fund revenues " decrease in investment of the U. S. _,60,3 Decrease in borrowings from the public... Increase in investment holdings Increase in selected cash and fund balances 6, Net effect of financing (excess of funds,, l,04l, ,483 Footnotes at end of Section. (Continued on following page)

173 68 Treasury Bulletin FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I Government Corporations and Other BusinessType Activities Table GAI3. Statements of Source and Application of Funds for the Six Months Ended December 3, 970 (Continued) (In thousands of dollars) General Services Administration (Continued) Account Construction Defense services, production public loan buildings (IR) guarantees (PE) Expansion of defense production (PE) Federal telecommunications fund (IR) General supply fund (IR) National Archives trust fund (TR) Reconstruction Finance Corporation liquidation fund (PE) FUNDS APPLIED TO OPERATIONS Acquisition of assets: Cost of security or collateral acquired. Purchase, construction, or improvement _ 9, _ Purchase of securities other than public debt and issues of wholly owned Govern Operating and other expenses (excluding 9, ,704 8,36 7, ,97,47 _,9 7,96 8,36 7, ,76,70 FUNDS PROVIDED BY OPERATIONS Realization of assets: 9 70 Sale of acquired security or collateral. 3,0t Sale of securities other than public debt and issues of wholly owned Government 9 3, ,94 9,97 7,80 4l8,l68 I,4l8 6, 4,40 4,499 funds provided by operations... 0,94 86,7 80,30 463,7,49 7 Net effect of operations on expenditures (excess of funds applied, or provided ()),70 l4 7,84 8,34 64, FUNDS PROVIDED BY FINANCING Increase in investment of the U. S. Government: Appropriations enacted.... Borrowings from the U. S. Treasury...,000 Capital and surplus advances from the _ Increase in Investment of the U. S.. _,000 Increase In other borrowings... Decrease In investment holdings... Decrease in selected cash and fund balances,70 30 FUNDS APPLIED TO FINANCING Decrease in investment of the U. S. Government: Appropriations lapsed, rescinded, or,70, Repayment of borrowings from the U. S. Treasury _ Repayment of capital and surplus advances from the U. S. Treasury Distribution of earnings to the U. S. _. 7 _ 7 General and special fund revenues. _. decrease in investment of the U. S Decrease in borrowings from the public... Increase in investment holdings.... Increase in selected cash and fund balances l4 3,8 8,43 64,4 Net effect of financing (excess of funds applied (), or provided) Footnotes at end of Section. 4 3,8 8,34 64,4 77,70 l4 7,8Ul 8,34 64, (Continued on following page)

174 April Account FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I Government Corporations and Other BusinessType Activities Table GAI3. Statements of Source and Application of Funds for the Six Months Ended December 3, 970 (Continued) (In thousands of dollars) General Services Administration (Continued) Liquidation of Virgin Islands Corporation (PE) William Langer Jewel Bearing Plant revolving fund (PE) Working capital fund (IR) Canteen service revolving fund (PE) Veterans Administration Direct loans to veterans and reserves (PE) Loan guarantyrevolving fund (PE) Rental, maintenance, and repair of quarters (PE) FUNDS APPLIED TO OPERATIONS Acquisition of assets: Cost of security or collateral acquired.,8,703 _ Purchase, construction, or improvement Purchase of securities other than public debt and issues of wholly owned Govem Operating and other expenses (excluding 0 77,84 _ ,787 89,886 _ 76 4,9 37,066 3,683 39, ,4, ,49 37,49 90,7 34,3 66 FUNDS PROVIDED BY OPERATIONS Realization of assets: 9 4,30 40/ 9,36 0/ Sale of acquired security or collateral.. 6 Sale of securities other than public debt and issues of wholly owned Government,640 8, ,960,0 _ ,37 37,38 43,984 49, ,94 funds provided by operations ,38 39,7 94,944 6,97 9 Net effect of operations on expenditures (excess of funds applied, or provided ()),86 4,9 7,649 8 FUNDS PROVIDED BY FINANCING Increase in investment of the U. S. Government: Capital and surplus advances from the increase in Investment of the U. S. _ Decrease in selected cash and fund balances 7, ,34 3 funds provided by financing... 7, ,34 3 FUNDS APPLIED TO FINANCING Decrease in investment of the U. S. Government: Appropriations lapsed, rescinded, or Repayment of borrowings from the U. S. Repayment of capital and surplus advances from the U. S. Treasury... Distribution of earnings to the U. S. General and special fund revenues ,74 3,99 M / 0,0 & / decrease in investment of the U. S. 8, ,99 0,0 0, { / Increase In investment holdings... Increase in selected cash and fund balances,86 7,68 funds applied to financing... Net effect of financing (excess of funds 8,6 80 8,86 37,33 7,649 _.86 4,9 7,649 8 Footnotes at end of Section. (Continued on following page)

175 70 Treasury Bulletin FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I Government Corporations and Other BusinessType Activities Table GAI3. Statements of Source and Application of Funds for the Six Months Ended December 3, 970 (Continued) (In thousands of dollars) Veterans Administration (Continued) Account Servicemens group life insurance fund (EE) Servicedisabled veterans' insurance fund (PE) Soldiers' and sailors' civil relief (PE) Supply fund (IR) Veterans' reopened insurance fund (PE) Veterans' special life insurance fund (PE) Vocational rehabilitation revolving fund (PE) FUNDS APPLIED TO OPERATIONS Acquisition of assets:,34,787 3, Cost of security or collateral acquired.. Purchase, construction, or improvement _» Purchase of securities other than public debt and issues of wholly owned Govern 7 4 7,33 4 l>79^ 3, Operating and other expenses (excluding 03,063 7,30 6 7,098,9 7,9 _ Increase in selected working capital ,063 8,6 6 7, 7,089,7 93 FUNDS PROVIDED BY OPERATIONS Realization of assets: 4 366,034 6 Sale of acquired security or collateral.. Sale of securities other than public debt and issues of wholly owned Government , ,063 7,66 68,96,936 3,939 30,096 0 funds provided by operations... 03,063 8,40 70,0 3,44 4,97 6 Net effect of operations on expenditures (excess of funds applied, or provided ()) 0,060 6,33 3,80 3 FUNDS PROVIDED BY FINANCING Increase in investment of the U. S. Government: Appropriations enacted... Borrowings from the U. S. Treasury... Capital and surplus advances from the. increase in investment of the U. S.. Decrease in investment holdings.... «_ Decrease in selected cash and fund balances 0, funds provided by financing... 0, FUNDS APPLIED TO FINANCING Decrease in investment of the U. S. Government: Appropriations lapsed, rescinded, or Repayment of borrowings from the U. S. Treasury... _. Repayment of capital and surplus advances from the U. S. Treasury... Distribution of earnings to the U. S. General and special fund revenues decrease in investment of the U. S. _.. _ Increase in investment holdings... 6,63 3,760 Increase in selected cash and fund balances 4 Net effect of financing (excess of funds 6,63 3,80. 0,060 6,33 3,80 3 Footnotes at end of Section. (Continued on following page)

176 April 97 Account FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I Government Corporations and Other BusinessType Activities Table GAI3. Statements of Source and Application of Funds for the Six Months Ended December 3, 970 (Continued) (In thousands of dollars) Other independent agencies Civil Service Commission ExportImport Farm Credit Employees' health benefits fund (TR) Employees' life insurance fund (TR) Revolving fund (IR) Retired Bank of the Admin. kjj employees' United States Revolving health Regular fund for benefits lending administrative fund (TR) activities (PE) expenses (PE) ill Federal Depos it Insurance Corporation (PE) FUNDS APPLIED TO OPERATIONS Acquisition of assets: 78,937 Cost of security or collateral acquired. Purchase, construction, or improvement 6 6 Purchase of securities other than public debt and issues of wholly owned Govern Operating and other expenses (excluding FUNDS PROVIDED BY OPERATIONS Realization of assets:. 3,>A3 6 7B,9$4.. 3 W " +67,9 3,44 0,346 6,6 04,448,,068 7,663 9,97 467,9 3,44 0,36 6,6 69,064, 0,(7 640, 40/. Sale of acquired security or collateral.. Sale of securities other than public debt and issues of wholly owned Government. Other... 3,38 _ 640, _ 3,38 _ 487,33 30,84 0,033 7,646 6,70,64 96,7 6,07 79, 4 3,994 9 funds provided by operations... 03, 309,396 0,6 ll,6la 803,4,36 0,038 Net effect of operations on expenditures (excess of funds applied, or provided ()) 36,03 78, 06,08,0 0 9,8 FUNDS PROVIDED BY FINANCING Increase In investment of the U. S. Government: Appropriations enacted... Borrowings from the U. S. Treasury... 3,00 Capital and surplus advances from the. " increase in investment of the U. S. 3,00 _ " Decrease in investment holdings... Decrease in selected cash and fund balances 7,8 0,64 06,,33 FUNDS APPLIED TO FINANCING Decrease in investment of the U. S. Government: Appropriations lapsed, rescinded, or Repayment of borrowings from the U. S. Repayment of capital and surplus advances 7,8 0,64 06, 333,3 _ 384,84 from the U. S. Treasury _ Distribution of earnings to the U. S. 0,000 General and special fund revenues _ Other... decrease in investment of the U. S. 434,84 _ Decrease in borrowings from the public... 0,83 Increase in investment holdings... 3,89 88,894 7,06 7,93 Increase in selected cash and fund balances 0,649 Net effect of financing (excess of funds (3,89 88,894 7,06 44, ,8 36,03 78, 06,08,0 0 9,8 Footnotes at end of Section. (Continued on following page)

177 7 Treasury Bulletin Account FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I Government Corporations and Other BusinessType Activities Table GAI3. Statements of Source and Application of Funds for the Six Months Ended December 3, 970 (Continued) (In thousands of dollars) Federal Savings and Loan Insurance Corp. (PE) Other independent agencies (Continued) Federal Home Loan Bank Board Interstate Small Business Administration Commerce National Home Owners' Commission Business Disaster Credit Union Loan Corporation (liqui fund (PE) investment fund Revolving loan and Administration loan (PE) dated) (PE) fund (PE) (PE) Repayment of loan guaranties (G&S) FUNDS APPLIED TO OPERATIONS Acquisition of assets:,80 3,6 76,8 Cost of security or collateral acquired. 3,80,00 3 Purchase, construction, or improvement Purchase of securities other than public debt and issues of wholly owned Govern 3 Operating and other expenses (excluding,63 _ 3 _ 3,6 76,33 30,84 0,9 3,893 84,890 9, ,830 3,99 9,07 4,46 7,33 9,903 FUNDS PROVIDED BY OPERATIONS Realization of assets: 8, ,609,463 Sale of acquired security or collateral.. 7,467,3 8 _ Sale of securities other than public debt and issues of wholly owned Government,6 60 6, 96 _ 90,443,707 Capital stock issued to the public... _ 80,03 0,704 3,96 8,34 6,993 8, funds provided by operations.... 0,37,7 96 3,96 4^,789 9,03 Net effect of operations on expenditures (excess of funds applied, or provided ()) 69, ,43 66,87 FUNDS PROVIDED BY FINANCING Increase in investment of the U. S. Government: Appropriations enacted... Borrowings from the U. S. Treasury... _ 00,000 Capital and surplus advances from the U. S. Treasury increase in investment of the U. S. 00,000 Increase in other borrowings Decrease in investment holdings... _ Decrease in selected cash and fund balances ,066 funds provided by financing ,000 73,066 FUNDS APPLIED TO FINANCING Decrease in investment of the U. S. Government: Appropriations lapsed, rescinded, or Repayment of borrowings from the U. S. Treasury... Repayment of capital and surplus advances from the U. S. Treasury.... Distribution of earnings to the U. S. General and special fund revenues 96 Other ,000 44/ 6,94 44/ decrease in investment of the U. S. 96 4,000 6,94 Decrease in borrowings from the public... _ 3 4 _ Increase in investment holdings... 68,837 _ Increase in selected cash and fund balances 48 80,46 Net effect of financing (excess of funds applied (), or provided)... 69, ,47 6, ,43 66,87 Footnotes at end of Section. (Continued on following page)

178 April Account FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I Government Corporations and Other BusinessType Activities Table GAI3. Statements of Source and Application o f Funds for the Six Months Ended December 3, 970 (Continued) (In thousands of dollars) Small Business Administration (Continued) Salaries and expenses (G&S) Other independent agencies (Continued) Tennessee Valley Authority (PE) United States Information Agency Informational media guaranty fund (PE) FUNDS APPLIED TO OPERATIONS Acquisition of assets: Loans made... Cost of security or collateral acquired.. Purchase, construction, or improvement of fixed assets... 9,74 Purchase of securities other than public debt and issues of wholly owned Government enterprises... Other... acquisition of assets... _ 9,74 _ Operating and other expenses (excluding depreciation) , Increase in selected working capital... 0,77 funds applied to operations ,9 347 FUNDS PROVIDED BY OPERATIONS Realization of assets: Repayment of loans... Sale of acquired security or collateral.. Sale of fixed assets... _ 77 _ Sale of securities other than public debt and issues of wholly owned Government enterprises... _ Other... 6 _ realization of assets Capital stock issued to the public... Income ,80 _ Decrease in selected working capital _ 347 funds provided by operations , Net effect of operations on expenditures (excess of funds applied, or provided ()) FUNDS PROVIDED BY FINANCING Increase in investment of the U. S. Government: Appropriations enacted... 6,80 Borrowings from the U. S. Treasury... _ Capital and surplus advances from the U. S. Treasury... _ Other... increase in investment of the U. S. Government... _ 6,80 _ Increase in other borrowings ,000 _ Decrease in investment holdings... 6,000 _ Decrease in selected cash and fund balances 8 funds provided by financing ,80 FUNDS APPLIED TO FINANCING Decrease in investment of the U. S. Government: Appropriations lapsed, rescinded, or transferred... Repayment of borrowings from the U. S. Treasury... Repayment of capital and surplus advances from the U. S. Treasury... _ Distribution of earnings to the U. S. Treasury... 3,73 _ General and special fund revenues deposited... 0 Other... decrease in investment of the U. S. Government... _ 3,83 _ Decrease in borrowings from the public... 0,4 _ Increase in investment holdings Increase in selected cash and fund balances j0 funds applied to financing _ Net effect of financing (excess of funds applied (), or provided) Footnotes at end of Section.

179 74 Treasury Bulletin.FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FTTMr>g Footnotes to Tables GAI and GAI3 (PE) Public enterprise revolving funds. (IR) Intragovernmental revolving funds. (TR) Trust revolving funds. (G&S) General and special funds (also includes loan accounts of enterprises in liquidation and foreign currency). / Statements of income and expense and of source and application of funds are not yet included for certain activities for which statements of financial condition have been published in Section I, Table GAI in the March 97 Bulletin. The InterAmerican Social Development Institute, shown on page 6 of that Bulletin, did not have any income or expense or any funds applied or provided during the first six months of the fiscal year 97. / Represents interest expense on appropriations made to the fund. / Represents the Cooley loan program established pursuant to the Agricultural Trade Development and Assistance Act of 94, as amended (7 U.S.C. 704 (e)). y Consists of contingency fund, InterAmerican social and economic program, and supporting assistance loans. / This amount reflects changes in treatment accorded collections of interest as deposits to general and special accounts instead of being netted against accumulated net income or deficit. 6/ The Overseas Private Investment Corporation reserves fund, included in this column on page 6 of the March 97 Bulletin, did not have any income or expense during the first six months of the fiscal year 97. It had funds provided of $8,70 thousand included in the statement of source and application of funds for this Corporation. 7/ Includes interest expense of $3,000 thousand on capital stock. 8/ Represents restoration of capital by the Department of the Treasuiy to partially reimburse the Corporation for net realized losses sustained but not previously reimbursed as provided by an act approved December, 970 (84 Stat. 49). / Includes administrative and operating expenses funds. 0/ Represents interest on appropriations for loans to be paid into miscellaneous receipts of the Department of the Treasury. / Funds shown under this heading were transferred from the Department of the Interior by Reorganization Plan No. 4 of 970, effective October 3, 970. A statement of income and expense and a statement of source and application of funds for the fisheries loan fund were not received by the United States Department of the Treasury. / Excludes unfunded costs consisting of depreciation on plants and equipment, military personnel, and other costs as follows: Air Force, $333,7 thousand j Annoy, $78,68 thousand; Marine Corps, $,78 thousand; Navy, $60,366 thousand: and defense agencies, $,6 thousand. 3/ Included beginning December 3, / Includes contractual services and other costs. / Includes the Federal Communications Agency. 6/ Represents interest on the net direct investment of the United States Government in this Corporation. 7/ Represents Consumer Protection and Environmental Health Services. 8/ Includes interest on appropriations and other capital. 9/ A statement of income and expense and a statement of source and application of funds as of December 3, 970, for this fund were not received by the United States Department of the Treasury. 0/ The low and moderate income sponsor fund, shown under this heading on page 36 of the March 97 Bulletin, did not have any income or expense during the first six months of the fiscal year 97. / Represents gross revenues of $63,8 thousand less current year revenues of $9,700 thousand to be transferred to Associated Projects. / Represents interest expense on public debt borrowings from the United States Department of the Treasury and on appropriations and other capital. 3/ Represents interest on appropriations and other capital. 4/ Represents interest expense on appropriations allocated to power and to municipal and industrial water supply construction. / Represents the fund known as "Advances to employment security administration account, unemployment trust fund. 6/ Figures are as of January 8, 97. 7/ Includes unreimbursed costs of $0,89 thousand performed by other agencies. 8/ Expenses include costs applicable to postal operations paid for by other Government agencies for unemployment compensation for postal employees, and certain custodial and maintenance costs of public buildings. Expenses include certain nonpostal services rendered to other agencies without reimbursement and other public service costs and losses which, under provisions of an act approved October, 96 (39 U.S.C. 303 (b)), are to be excluded in adjusting postal rates and fees. 9/ The operating deficit as of June 30, 970, has been combined with other items representing equity of the United States Government, and is included with the net investment at the beginning of the fiscal year / Represents cancellation of accrued interest on public debt borrowings from the United States Department of the Treasury under provisions of an act approved October, 970 (84 Stat. 038). 3/ The Federal tax lien revolving fund and the Federal Farm Mortgage Corporation liquidation fund, shown under this heading on page 43 of the March 97 Bulletin, did not have any income or expense during the first six months of the fiscal year 97. 3/ The accumulated net income or deficit is included with the equity of the United States Government and cannot be segregated. 33/ Home Owners' Loan Corporation (liquidated), shown under this heading on page 49 of the March 97 Bulletin, did not have any income or expense during the first six months of the fiscal year / Represents return on additional premiums prepayments. 3/ Includes interest on funds advanced to the Administration by appropriations. 36/ Represents net income of $38,9 thousand from power operations, and net loss of $7,0 thousand from nonincomeproducing programs. 37/ Includes United States dollar equivalent of foreign currency transactions. 38/ Represents United States dollar equivalent of foreign currency transactions. 39/ Includes principal and interest collections deposited into the United States Department of the Treasuiy. 40/ Includes sales of loans. 4/ Represents transfers of unobligated balances to the Government National Mortgage Association trustee account. 4/ Defense production guarantees, shown under this heading on page 3 of the March 97 Bulletin, did not have any funds applied or provided during the first six months of the fiscal year 97. Q / Includes Defense Atomic Energy Support Agency and National Security Agency. 44/ Represents transfers of principal collections on pledged loans to the Government National Mortgage Association trustee account. 4/ Represents redemption of participation certificates by the trustee. 46/ Represents change in equity due trustors. 7/ The banks for cooperatives investment fund and the shortterm credit investment fund, shown under this heading on page 48 of the March 97 Bulletin, did not have any funds applied or provided during the first six months of the fiscal year 97. Less than $00. r Revised.

180 April 97 7 FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS. Section III Federal Credit Programs Table GAIII. Direct Sales and Repurchases o f Loans (In millions of dollars) IHousing and Urban Development Department Fiscal year or month Sales ExportImport Bank of the United States Sales Farmers Home Admini strati on Sales / Government National Mortgage Association / Sales Office of Secretary / Sales Small Business Administration Sales Veterans Administration Sales Repurchases Repurchases Repurchases Repurchases Repurchases Repurchases Repurchases 96 3, ,,7, ,070,337, , Feb.. Melt., Apr., May., June, July, Aug., Sept, Oct., Nov., Dec., 97Jan., Feb., k Fiscal 97 to date...., ,696 / The secondary market operations of Federal National Mortgage Association were converted to private ownership effective Sept. 30, 968, pursuant to P.L (8 Stat. 36). Amounts reported exclude the following applicable to secondary market operations: net sales, 963 $47 million; net purchases, 964 $67 million, 96 $3 million, 966 $,838 million, 967 $,07 million, 968 $,36 million, through Sept. 30, 968 $96 million. / Includes college housing, elderly housing, and public facility loans. / Sales by fiscal years are on basis of actual figures shown in the Budget document and include initial sales of loans from credit insurance funds. The monthly figures are on basis of agency reports. Less than $00,000.

181 76 Treasury Bulletin FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section III Federal Credit Programs Table GAIII. Loans Outstanding, December 3, 970 Excluding Interagency Loans (In thousands of dollars) United States dollar loans Type of loan and lending agency y Loan account / Expenditure account Foreign currency loans 3/ To aid agriculture: Loans to cooperative associations: Farmers Home Administration: Crop, livestock, and commodity loans: Farmers Home Administration: Storage facility and equipment loans: Farm mortgage loans: Farmers Home Administration: Other loans: Consumer and Marketing Service: Economic opportunity loan fund: Farmers Home Administration:,96,96 39, 39, 3 y 3 y,36,09,36,09,973,49,973, ,7 78,7 46,74 46,74.. 9,690 9,690 4,688 / 4,688 / _ 46, / 46, / 0,46 y 0,46 4/ _ ,99 3,99 687,633 i/ 687,633 /,378 y,378 y \.LL.447 to aid agriculture... 0,803,764 7,830,33,973,49 To aid homeowners: Mortgage loans: Housing and Urban Development Department: Federal Housing Administration: Revolving fund... 0,93 0,93 730,649 6/ 730,649 6/ Government National Mortgage Association: Management and liquidating functions...,70, i/,70, /.. 3,89,49 / 3,89,49 / Lowrent public housing Interior Department: Bureau of Indian Affairs: Veterans Administration:,3,839 /,3,839 / _ 6,489 6,489 Federal Home Loan Bank Board: Federal Savings and Loan Insurance Corporation... 36,36 36,36 Other loans: Funds appropriated to the President: Appalachian housing fund...,080,080 Agriculture Department: Farmers Home Administration: Self help housing land development fund: Loans to public and private nonprofit organizations... Veterans Administration: Direct loans to veterans and reserves... Loan guaranty revolving fund , / 0, / to aid homeowners... 8,70,34 8,70,74,080 To aid industry: Loans to railroads: Expansion of defense production: Treasury Department......,80,80 Other purposes: Treasury Department: Reconstruction Finance Corporation loans in liquidation... 4,7 4,7 Interstate Commerce Commission... 8,43 8,43 Ship mortgage loans: Commerce Department: Federal ship mortgage insurance fund...,8,8 Maritime Administration... 48,88 48,88 Footnotes at end of Section. (Continued on following page)

182 April 97 FINANCIAL OPERATIONS OF GOVERNMENT,AGENCIES AND FUNDS. Section III Federal Credit Programs Table GAIII.' Loans Outstanding, December 3, 970 Excluding Interagency Loans (Continued) (In thousands of dollars) 77 United States dollar loans Type of loan and lending agency / Loan account / Expenditure account Foreign currency loans 3/ To aid industry (Continued): Other loans: Expansion of defense production: Interior Department...,66 Treasury Department...,9,9 General Services Administration.... Defense production guarantees: Air Force Department...,0 0 Army Department ,878,878 Navy Department Other purposes: Conmerce Department: Economic Development Administration: Economic development revolving fund... 44,08 44,08 National Oceanic and Atmospheric Administration: Fisheries loan fund Interior Department: 9 77 Geological Survey Jj...,770 Transportation Department: Urban mass transportation fund... Treasury Department: Reconstruction Finance Corporation loans in liquidation... General Services Administration: Reconstruction Finance Corporation liquidation fund... Small Business Administration: Business loan and investment fund... L ny LI) nrs Q 7,X77 l ( L LH) 9 9,9,308 /,9,308 jj/ to aid industry...,669,0 8/,663,884 8/, >IQ,66 <c,t/u 0 r7r7c\ To aid education: Health, Education, and Welfare Department: Office of Education: Elementary and secondary educational activities jj...,97,97 8,30 Higher educational activities, loans to institutions jj... Higher educational activities, advances for reserve funds 7/... Higher education facilities loans fund ,30 8, ,687 / 8, ,687 / Loans to students in institutions of higher education 7/...,3,04 Student loan insurance fund... 7,6 7,6,3,04 National Institutes of Health: Loans to institutions: Health professions education fund... 30,78 /,338 / 43,8 30,78 i/,338 / 43,8 Nurse training fund Other student loan programs 7/ Social and Rehabilitation Service: Assistance to refugees in the United States 7/... Housing and Urban Development Department: College housing loans... 3,4 3,98,46 $/ 3,U 3,98,46 i/ to aid education...,4,80 3,68,670,9,40 To aid States, Territories, etc.: Commerce Department: Economic Development Administration: Economic development revolving fund... Health, Education, and Welfare Department:,887,887 Health Services and Mental Health Administration 7/ Housing and Urban Development Department: 9,9 9 9 Urban renewal programs Lowrent public housing ^393 Public facility loans ,84 i/ 49,84 / Public works planning advances fund Revolving fund, liquidating programs Interior Department: Bureau of Reclamation /... Office of Territories: 3 4,30 y,3 4,30 y Alaska public works Loans for rehabilitation in Guam Jj... 4, Treasury Department: Miscellaneous loans and certain other assets: Loans to the District of Columbia ,668 >43,668 General Services Administration: Public Works Administration (in liquidation)... to aid States, Territories, etc...,734,00,660,973 73,08 3,80 3,80 no r\oa Footnotes at end of Section. (Continued on following page)

183 78 Treasury Bulletin FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section III Federal Credit Programs Table GAIII. Loans Outstanding, December 3, 970 Excluding Interagency Loans (Continued) (In thousands of dollars) Type of loan and lending agency / United States dollar loans Loan account / Expenditure account Foreign currency loans / Foreign loans: Funds appropriated to the President: Liquidation of foreign military sales fund /... 07,83 Military assistance credits in liauication...,4 Agency for International Development: Alliance for Progress, development loans...,80,648 60,839 Development loans... 4,988,990 3,68 Loans to domestic or foreign firms and United States firms in foreign countries... 07,83,4,80,648 Common defense, economic, and triangular trade loans... 60,839 3,84,6 4,988,990 Development loan fund liquidation account... 3,68 OOAj.,\JC.( n?7 Loans of predecessor agencies in liquidation ,48 Other loans... 44,887 Agriculture Department: Commodity Credit Corporation: Longterm export sales credits...,9,693 Shortterm export sales credits ,7 436,7 983,48 44,887,9,693 Commerce Department: Maritime Administration... State Department: Loans to the United Nations 7/ ,694 8, ,44 OHO Treasury Department: Miscellaneous loans and certain other assets: Lendlease and surplus property...,30,746 ^0 7/6,87 Loans and other credits ,8,83 / 3,8,83 / Receivable from foreign banking institutions... 3,000 3,000 Atomic Energy Commission: Longterm receivables 7/...,906,906 ExportImport Bank of the United States...,6,3 /,6,3 / foreign loans...,93,3 6,09,89,0,6,634,386 Other loans: Housing and Urban Development Department: Housing for the elderly or handicapped ,06 / 498,06 J/ Low and moderate income sponsor fund...,43 Lowrent public housing... 4 L77 Rehabilitation loan fund Revolving fund, liquidating programs... iff0<sa L 8? 4, I 0< JL #? Interior Department: Bureau of Indian Affairs: Revolving fund for loans Justice Department: 6,6 6,6 Legal activities and general administration... State Department: 4,83 Emergencies in the diplomatic and consular service 7/... General Services Administration:,4 Liquidation of Virgin Islands Corporation... Surplus property credit sales and liquidation activities... Veterans Administration: Insurance appropriations policy loans 7/ ,8 4,03,43 L, "36,36 National servi ce life insurance fund ff ,88 877,88 Servicedisabled veterans insurance fund... ~,097,097 Soldiers and sailors' civil relief... 3 U.S. Government life insurance fund 7/... ~ ,804 Veterans reopened insurance fund n (yuurfc nno Veterans special life insurance fund...,76 <^Oyc,(o Vocational rehabilitation revolving fund ~ 7 ±0 ( Small Business Administration: Disaster loan fund ,03 $/ 437,03 v other loans y? y\jjl\j 66,93,0 8,60, loan and expenditure account... sjy707 Q6Q, 70 3,86,977 0 GO yz. l/3 J4P,634,386 4,83,4,3 9,494 Deduct: Loans of agencies submitting financial statements on an annual basis (see footnote 7)...,79,73 LjX 70 (\JyPOU ^60,6,364 loans of agencies submitting financial statements on a quarterly basis (loan and expenditure accounts) ,76,397 / 30,66,68 6/ «LOjjxryy 8 Q 77Q ({7,634,386 ~ Footnotes at end of Section. (Continued on following page)

184 April FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS. Section III Federal Credit Programs Table GAIII. Loans Outstanding, December 3, 970 Excluding Interagency Loans (Continued) (In thousands of dollars) United States dollar loans Type of loan and lending agency U Loan account / Expenditure account Foreign currency loans / Memorandum Investments in securities of privately owned Governmentsponsored enterprises: Agriculture Department: Consumer and Marketing Service: Milk market orders assessment fund Other independent agencies: Federal Home Loan Bank Board: Federal Savings and Loan Insurance Corporation investments / / 6/ Does not include foreign currency loans. Includes trust funds. The dollar equivalents of these loans are computed for reporting / purposes at varying rates. If the loan agreements stipalate a dollar denominated figure, the loans outstanding are generally valued at agreement rates of exchange. Loans executed in units of foreign currency are valued at the market rates (i.e., the rates of exchange at which the Department of the Treasury sells such currencies to 8/ Government agencies). As of June 30, 970, the latest available. Participation certificates have been issued against certain of these / loans under trust agreements by the Government National Mortgage Association, participation sales fund. For the full amounts of participa 0/ tion certificates outstanding for these programs, see Section I Government Corporations and Other BusinessType Activities in the March 97 Bulletin. / Includes $46 million representing defaulted mortgage notes and defaulted Title I, Section notes reported as acquired security or collateral on the statement of financial condition of the Federal Housing Administration revolving fund. This activity submits financial statements annually as of June 30, pursuant to Supplement No. (Revised) to Department Circular No A complete balance sheet as of December 3, 970, was not submitted, but the outstanding loans of this activity were reported to the Department of the Treasury and are shown on this line. Loans of the fisheries loan fund, shown above, are as of December 3, 970. Loans of this fund appearing on page 9 of the March 97 Bulletin are as of September 30, 970. Loans of this fund are shown net of $38 million financed by another Government agency. Represents receivables of $4 million from Finland, $3 million from Greece, $ million from Japan, and $,90 million from the United Kingdom. Participation certificates amounting to $,48 million, issued against certain of these loans, were outstanding as of December 3, 970.

185 80 Treasury Bulletin CUMULATIVE TABLE OF CONTENTS May 970 through April 97 Issue and page number May June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. Article: Treasuiy financing operations... II II II II II II II II II II II II Federal fiscal operations: Budget receipts by principal sources.... Chart Budget receipts by principal sources Budget outlays by agencies Investment transactions of Government accounts in Federal securities (net) Trust funds transactions... Accountability of the Treasurer of the U.S. on an... Detail of excise tax receipts "l Summary of internal revenue collections by States, Account of the Treasurer of the United States: Status of the Account of the Treasurer of the United Analysis of changes in tax and loan account balances Summary of cash transactions through the Account of the Monetary statistics: Federal debt: Computed interest charge and computed interest rate on Maturity distribution and average length of marketable interestbearing public debt Interestbearing securities issued by Government , Treasury holdings of securities issued by Government Public debt operations: Maturity schedule of interestbearing marketable public debt securities other than regular weekly and annual S 30 8 New money financing through regular weekly Treasury bills Offerings of public marketable securities other than 3 regular weekly Treasury bills Unmatured marketable securities issued in advance Unmatured marketable securities issued at a premium or discount other than advance refunding operations Allotments by investor classes on subscriptions for Disposition of public marketable securities other than Foreign series securities (nonmarketable) issued to Foreign currency series securities (nonmarketable) issued to official institutions of foreign countries United States savings bonds: Sales and redemptions by series, cumulative Sales and redemptions by periods, all series combined Sales and redemptions by periods, Series E through K Redemptions of matured and unmatured savings bonds Sales and redemptions by denominations, Series E and H combined Sales by States, Series E and H combined TTni+.pd lt.at.ps savinps notes? Sales and redemptions by periods Ownership of Federal securities: Distribution by classes of investors and types of issues Estimated ownership by private investors Treasurv survey of ownership (Continued on following page)

186 April 97 8, CUMULATIVE TABLE OF CONTENTS, May 970 through April 97 (Continued) Issue and page number May June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. Market Quotations on Treasury securities: Averaere yields of longterm bonds: Average yields of Treasuiy, corporate and municipal bonds by periods Chart Average yields of Treasuiy, corporate and Exchange Stabilization Fund: Balance sheet National bank reports: Income, expenses, and dividends for calendar year International financial statistics: U.S. liquid liabilities to official institutions of U.S. reserve assets... U.S. liquid liabilities to foreigners foreign countries, by area Nonmarketable U.S. Treasuiy bonds and notes issued.to U.S. net monetaiy gold transactions with foreign countries and international and regional organizations Capital movements between the United States and foreign countries: Liabilities to foreigners reported by banks in the United States Claims on foreigners reported by banks in the United States Liabilities to foreigners reported by nonbanking concerns in the United States Claims on foreigners reported by nonbanking concerns in the United States Transactions in longterm securities by foreigners reported by banks and brokers in the United States Foreign credit and debit balances in brokerage accounts Foreign branches of United States commercial banks: Dollar and foreign currency assets of foreign branches Dollar assets of foreign branches Foreign currency assets of foreign branches Dollar and foreign currency liabilities of foreign branches Dollar liabilities of foreign branches Foreign currency liabilities of foreign branches... 3 Dollar and foreign currency assets of foreign branches in United Kingdom Dollar assets of foreign branches in United Kingdom Foreign currency assets of foreign branches in United Kingdom Dollar and foreign currency liabilities of foreign branches in United Kingdom... 3 Dollar liabilities of foreign branches in United Kingdom.. 36!!! Foreign currency liabilities of foreign branches in United Kingdom Foreign currencies acauired by the U.S. Government without payment of dollars: Foreign currency transactions, summary and countiy uses Foreign currency transactions, U.S. uses and trust funds Financial operations of Government agencies and funds: Government corporations and other businesstype activities: Statements of financial condition Statements of income and expense Statements of source and application of funds !!. 0 Regular Governmental activities: Statements of financial condition Federal credit programs: Direct sales and repurchases of loans Loans outstanding, excluding interagency loans Trust funds: Federal Oldage and Survivors Insurance Trust Fund Federal Disability Insurance Trust Fund Federal Hospital Insurance Trust Fund Federal Supplementaiy Medical Insurance Trust Fund Railroad Retirement Accounts Unemployment Trust Fund National Service Life Insurance Fund Investments of specified trust accounts