T r e a s u r y B u l l e t i n. March 1978 W A S H I N G T O N, D,C.

Transcription

1 T r e a s u r y B u l l e t i n March 1978 D E P A R T M E N T O F T H E T R E A S U R Y O F F I C E O F T H E S E C R E T A R Y W A S H I N G T O N, D,C.

2 March 1978 I CONTENTS Article Page Treasury Financing Operations....VI FEDERAL FISCAL OPERATIONS FFO1. Summary of Fiscal Operations....1 FFO2. Budget Receipts by Source...3 Chart Budget Receipts by Source FFO3. Budget Outlays by Agency...6 FFO4. Undistributed Offsetting Receipts...7 FFO5. Budget Outlays by Function...8 FFO6. Investment Transactions of Government Accounts in Federal Securities (Net) FFO7. Trust Funds Transactions...H FEDERAL OBLIGATIONS FO1. Gross Obligations Incurred Within and Outside the Federal Government by Object Class 13 FO2. Gross Obligations Incurred Outside the Federal Government by Major Function and Major Object Class FO3. Gross Obligations Incurred Outside the Federal Government by Department or Agency.. 14 FO4. Cross Obligations Incurred outside the Federal Government, Comparative Statement by Months *... V? ACCOUNT OF THE U.S. TREASURY UST1. Status of the Account of the U.S. Treasury UST2. Elements of Changes in Federal Reserve aad Tax and Loan Account Balances UST3. Gold Assets and Liabilities of the Treasury.... IB MONETARY STATISTICS MS1. Currency and Coin in Circulation FEDERAL DEBT FD1. Summary of Federal Debt FD2. Computed Interest Charge and Computed Interest Rate on InterestBearing Public Debt 20 FD3. InterestBearing Public Debt FD4. Maturity Distribution and Average Length of Marketable InterestBearing Public Debt 21 FD5. Government Account Series FD6. InterestBearing Securities Issued by Government Agencies FD7. Participation Certificates FD8. Debt Subject to Statutory Limitation FD9. Status and Application of Statutory Limitation FD10. Treasury Holdings of Securities... 2? PUBLIC DEBT OPERATIONS PD01. Maturity Schedule of InterestBearing Marketable Public Debt Securities PDO2. Offerings of Bills PD03. New Money Financing through Regular Weekly Treasury Bills... 33

3 II Treasury Bulletin CONTENTS EDO4. PDO5. PDO6. PDO7. PDO8. PDO9. SB1. SB2. SB3. SB4. SN1. OFS1. OFS2. TSO1. TSO2. TSO3. TSO4. TSO5. MQ1. MQ2. MQ3. Chart AY1. Chart IFS1. IFS2. IFS3. IFS4. IFS5. IFS6. Page Offerings of Public Marketable Securities... Jg Unmatured Marketable Securities Issued at a Premium or Discount... 4* Allotments by Investor Classes on Subscriptions for Public Marketable Securities... Disposition of Public Marketable Securities Foreign Series Securities Foreign Currency Series Securities 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 UNITED STATES SAVINGS NOTES Sales and Redemptions by Periods OWNERSHIP OF FEDERAL SECURITIES Distribution of Federal Securities Estimated Ownership of Public Debt Securities TREASURY SURVEY OF OWNERSHIP Summary of Federal Securities InterestBearing Marketable Public Debt Securities by Type and.maturity*distribution 76 InterestBearing Marketable Public Debt Securities by Issue... Securities Issued by Government Agencies Securities Issued by GovernmentSponsored Agencies and D.C... MARKET QUOTATIONS ON TREASURY SECURITIES Treasury Bills Treasury Notes Treasury Bonds... Yields of Treasury Securities AVERAGE YIELDS OF LONGTERM BONDS Average Yields of LongTerm Treasury, Corporate, and Municipal Bonds... Average Yields of LongTerm Treasury, Corporate, and Municipal Bonds INTERNATIONAL FINANCIAL STATISTICS U.S. Reserve Assets U.S Liquid and Nonliquid Liabilities to Foreign Official Institutions, and Liquid Liabilities to All Other Foreigners U.S. Liquid and Nonliquid Liabilities to Official Institutions of Foreign Countries, by Area... Nonmarket able U.S. Treasury Bonds and Notes U.S. Position in the International Monetary Fund WeightedAverage of Exchange Rate Changes for the Dollar S ^ yg go g g6

4 March 1978 III CONTENTS CAPITAL MOVEMENTS LIABILITIES TO FOREIGNERS REPORTED BY BANKS U.S. CMI1. ShortTerm Liabilities by Type of Foreign Holder CMI2. ShortTerm Liabilities by Type of Liability CMI3. ShortTerm Liabilities by Country CMI4. ShortTerm Liabilities, by Type and Country CMI5. ShortTerm Liabilities, Not Regularly Reported Separately CMI6. LongTerm Liabilities by Type CMI7. LongTerm Liabilities by Country CLAIMS ON FOREIGNERS REPORTED BY BANKS CMII1. ShortTerm Claims by Type CMII2. ShortTerm Claims by Country CMII3. ShortTerm Claims, by Type and Country... CMII4. LongTerm Claims by Type CMII5. LongTerm Claims by Country CMII6. LongTerm Claims, by Type and Country LIABILITIES TO FOREIGNERS REPORTED BY NONBANKING CONCERNS U.S. CMIII1. Liabilities by Type... ; ' CMIII2. ShortTerm Liabilities by Country CMIII3. ShortTerm Liabilities, by Type and Country CMIII4. LongTerm Liabilities, by Country CLAIMS ON FOREIGNERS REPORTED BY NONBANKING CONCERNS U.S. CMIV1. Claims by Type CMIV2. ShortTerm Claims by Country... Ill CMIV3. ShortTerm Claims, by Type and Country CMIV4. ShortTerm Liquid Claims Reported by Large Nonbanking Concerns, by Type CMIV5. ShortTerm Liquid Claims Reported by Large Nonbanking Concerns, by Country CMIV6. ShortTerm Liquid Claims Reported by Large Nonbanking Goncems, by Type and Country 114 CMIV7. LongTerm Claims by Country TRANSACTIONS IN LONGTERM SECURITIES BY FOREIGNERS CMV1. Foreign Purchases and Sales of LongTerm Domestic Securities CMV2. Foreign Purchases and Sales of LongTerm Foreign Securities CMV3. Net Foreign Transactions in Marketable U.S. Treasury Bonds and Notes by Country CMV4. Estimated Foreign Holdings of Marketable U.S. Treasury Bonds and Notes by Country. 118 CMV5. Net Foreign Transactions in LongTerm Domestic Bonds CMV6. Net Foreign Transactions in Domestic Stocks by Country CMV7. Net Foreign Transactions in LongTerm Foreign Bonds by Country CMV8. Net Foreign Transactions in Foreign Stocks by Country CMV9. Foreign Purchases and Sales of LongTerm Securities, Latest Date... *^3 CMV10. Foreign Purchases and Sales of LongTerm Securities, Latest Year

5 IV Treasury Bulletin CONTENTS FOREIGN CURRENCY POSITIONS SUMMARY POSITIONS P&ge FCPI1. Nonbanking Firms1 Positions FCPI2. Weekly Bank Positions FCPI3. Monthly Bank Positions BELGIAN FRANC POSITIONS FCPII1. Nonbanking Firms Positions FCPII2. Weekly Bank Positions FCPII3. Consolidated Monthly Bank Positions CANADIAN DOLLAR POSITIONS FCPIII1. Nonbanking Firms1 Positions FCPIII2. Weekly Bank Positions FCPIII3. Consolidated Monthly Bank Positions FRENCH FRANC POSITIONS FCPIVl. Nonbanking Firms* Positions FCPIV2. Weekly Bank Positions FCPIV3. Consolidated Monthly Bank Positions GERMAN MARK POSITIONS FCPV1. Nonbanking Firms Positions FCPV2. Weekly Bank Positions... ;...!33 FCPV3. Consolidated Monthly Bank Positions ITALIAN LIRA POSITIONS FCPVT1. Nonbanking Firms' Positions FCPVI2. Weekly Bank Positions JAPANESE YEN POSITIONS FCPVTI1. Nonbanking Firms Positions FCPVII2. Weekly Bank Positions FCPVII3. Consolidated Monthly Bank Positions SWISS FRANC POSITIONS FCPVIII1. Nonbanking Firms Positions FCPVIII2. Weekly Bank Positions FCPVIII3. Consolidated Monthly Bank Positions STERLING POSITIONS FCPIX1. Nonbanking Firms Positions FCPIX2. Weekly Bank Positions FCPIX3. Consolidated Monthly Bank Positions UNITED STATES DOLLAR POSITIONS ABROAD FCPX1. Nonbanking Firms Foreign Subsidaries Positions FCPX2. Weekly Bank Foreign Office Positions... ^42 FCPX3. Monthly Bank Foreign Office Positions... ^

6 March 19J8 V CONTENTS FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Page GAI1. GOVERNMENT CORPORATIONS AND OTHER BUSINESSTYPE ACTIVITIES Statements of Financial Condition... I46 FEDERAL CREDIT PROGRAMS GAII1. Direct Sales and Repurchases of Loans Cumulative Table of Contents Note: Details of figures may not add to totals because of rounding.

7 VI Treasury Bulletin Treasury Financing Operations Auction of 2Year Notes On February 10 the Treasury announced that it would auction $3,250 million of 2year notes to refund $2,062 million of notes held by the public maturing February 28, 1978, and to raise $1,188 million of new cash. The notes offered were Treasury Notes of Series L1980, to be dated February 28, 1978, due February 29, 1980, with interest payable the last day of August and February in each year until maturity. A coupon rate of 75/8$ was set after the determination as to which tenders were accepted on a yield basis, the average of which translated into an average aceepted price close to Tenders for the notes were received until 1:30 p.m. EST, February 16 and totaled $5,220 million, of which $3,238 million was accepted at yields ranging from 7.67%, price 99.8 up to 7,71%, price Noncompetitive tenders for $1 million or less from any one bidder were accepted in full at the average yield of accepted tenders, 7.70$, price These totaled $507 million. In addition, $557 million of tenders were accepted at the average price from Government accounts and Federal Reserve banks for their own account in exchange for securities maturing February 28, 1978 ($53 million) and from Federal Reserve banks as agents for foreign and international monetary authorities for new cash ($504 million). Auction of AYear 1Month Notes On February 15 the Treasury announced that it would sell to the public at auction, under competitive and noncompetitive bidding, up to $2,500 million of 4year 1month notes to raise new cash. The notes offered were Treasury notes of Series G1982, to be dated March 6, 1978, due March 31* 1982, with interest payable semiannually on September 30 and March 31 until maturity. A coupon rate of 77/8$ was set after the determination as to which tenders were accepted on a yield basis, the average of which translated into an average accepted price close to Tenders for the notes were received until 1:30 p.m. EST, February 22, and totaled $5,817 million of which $2,510 million was accepted at yields ranging from 7.87$, price , up to 7.90$, price Noncompetitive tenders for $1 million or less were accepted in full at the average yield of accepted tenders, 7.89$, price These totaled $341 million. In addition, $325 million of tenders were accepted at the average price from Federal Reserve banks as agents for foreign and international monetary authorities for new cash. 52Week Bills On February 23 tenders were invited for approximately $3,208 million of 364day Treasury bills to be dated March 7, 1978, and to mature March 6, Tenders were opened on March 1, They totaled $5,587 million, of which $3,209 million was accepted, including $95 million of noncompetitive tenders from the public and $1,150 million of the bills issued at the average price to Federal Reserve banks for themr selves and as agents of foreign and international monetary authorities. An additional $107 million of the bills were issued to Federal Reserve banks as agents of foreign and international monetary authorities for new cash. The average bank discount rate was 6.859$. The issue was to refund $3,208 million of bills maturing March 7. A3D y Bills On March 1 tenders were invited for approximately $3,000 million of 43day Treasury bills to be issued March 8, 1978, representing an additional amount of bills dated October 20, 1977, maturing April 20, The issue was to raise new cash. Tenders were opened on March 3. They totaled $7,284 million, of which $3,004 million was accepted. The average bank discount rate was 6.346$. 13Week.a n Q e^wee^bills Issues of regular weekly Treasury bills in February totaled $23,400 million. These issues were offered for cash and in exchange for bills maturing in the amount of $23,200 million. There were two 13week issues of $2,300 million, and two 13week issues of $2,400 million. There were four 26week issues of $3,500 million. Average rates for the new issues are shown in the following table. Date of issue Annual average rate (bank discount basis) week 26week February , Treasury Bills (Other than Shortdated bills) General Treasury bills are sold an a discount basis under competitive and noncompetitive bidding, and at maturity /their par amount is payable without interest. Except for definitive bills in the $100,000 denomination, which are available only to investors who are able to show that they are required by law or regulation to hold securities in physical form, all series are issued entirely in bookentiy form in a minimum

8 March 1978 V l l Treasury Financing Operations Continued amount of $10,000 and in any higher $5,000 multiple, on the records either of the Federal Reserve "banks and branches, or ol the Department of the Treasury. Tenders are received at Federal Reserve banks and branches and from individuals at the Bureau of the Public Debt, Washington, Each tender must be for a minimum of $10,000. Tenders over $10,000 must be in multiples of $5,000. Payment for the full par amount applied for mist accompany all tenders submitted for bills to be maintained on the bockentry records of the Department of the Treasury. A cash adjustment will be made for the difference between the par payment submitted and the actual issue price as determined in the auction. No deposit need accompany tenders from incorporated banks and trust companies and from responsible and recognized dealers in investment securities for bills to be maintained on the bookentry records of Federal Reserve banks and branches, or for definitive bills, where authorized. A deposit of 2 percent of one pax amount of the bills applied for must accompany tenders for such bills from others, unless an express guaranty of payment by an incorporated bank or trust company accompanies the tenders. Noncompetitive tenders (without stated price), usually for $500,000 or less from any one bidder, for each issue of 13week, 26week, and 52week bills, are accepted in full at the average price of accepted competitive bids for an issue. Payment for accepted tenders mist be made or completed on the date of issue, in cash or other immediately available funds or in a like par amount of Treasury securities maturing on oa?> before that date.* Payment for 13week, 26week, and 52week bills may not be made by credit in Treasury tax and loaii accounts. Foreign Series.and...Foreign Currency Series Foreign series securities issued in February totaled $843 million, consisting of 1 bill and 15 certificates* Redemptions for the month totaled $992 million. At the end of Feb* ruary, foreign series securities outstanding totaled $21,510 million. (Details are shown on page 64*) There were no issues of foreign currency series securities in February. Redemptions for the month totaled an equivalent of $41 million. At the end of February foreign currency series securities outstanding totaled an equivalent of $1,087 million and were all denominated in Swiss francs. (Retails are shown on page 67.) Note: Details of Treasury market financing operations are shown elsewhere in tables on public debt operations.

9 March 1978 FEDERAL FISCAL OPERATIONS Table FFO1. Summary of Fiscal Operations 1 (In millions of dollars) 1/ Budget receipts and outlays Means of financing net transactions Borrowing from the public Federal securities Cash and monetary assets (Deduct) Fiscal year or month Net Net receipts 2/ outlays 2/ (1 ) (2) Surplus or deficit () 12 (3) Riblic debt securities 4/ (4) (5) Agency securities Investments of Govern* went accounts j>/ (6) 4+56 (7) Within general account of the U.S. Treasury 6/7/ (8) U.S. Treasury operating cash (9) Special drawing rights 8/ (10 ) Other (1 1 ) Gold tranche drawing rights 2/ (12 ) ' , ,548 3,236 7,526 10,150 8,522 11, , ,588 2,845 17,198 1,739 10,062 5,397 1, , , ,425 23,033 27, ,417 19, , ,021 23,372 29,131 1,269 8,420 19,442 1, , , ,074 14,849 30, ,822 19,275 2, , , ,621 4,689 16, ,813 3,009 3, , ,105 45,108 58,953 1,069 7,031 50,853 1, , , ,648 66,451 87, ,341 82,3 7, ,024 81,687 94,660 12,973 14, ,514 18,507 2, , ,896 45j035 64,139 1,380 9,243 53,516 1, (Est.) , ,234 61,847 77,965 1,520 10,445 66,000 n. a. n. a. n. a. n.a (Est.) , ,174 60,586 89,595 1,509 15,086 73,000 n. a. n. a. n. a. n.a. 1977Jan... 29,954 32,617 2,663r ,099 3,157 1, Feb... 24, 30,735 6,554 9, ,118 1, Mar... 24,817 34,292 9,475 5, ,351 5, Apr... 39,832 35,363 4,469 1, ,206 8, May... 27,549 33,592 6,043 1, ,930 2,871 10, June... 43,075 32,881 10,194 2, , , July... 24,952 33,630 8, ,460 1,803 6, Aug... 29,676 34,720 5,044 11, ,114 7,780 3, Sept... 36,642 35,097 1,545 13, ,629 10,024 12, Oct... 24,127 38,790 14,663 1, ,296 1,851 11, , Nov... 27,596 36,864 9,269 10, ,685 8,854 2, Dec... 32,794 37,646 4,852 10, ,971 6, , Jan... 33,201 36,8 3,717 2, ,370 6, Fiscal 1978 to date , ,218 32,500 22, ,020 26,703 6, Means of financing net transactions Con. Selected balances, end of period Fiscal year or month Other 10/ (13) Transactions not applied to year's surplus or deficit 1 1 / (14) budget financing (15) General account of the U.S. Treasury 6/7/ (16) U.S. Treasury operating cash (17) Public debt securities k/ (18) Agency securities 12/ (19) Federal securities Investments of Government accounts (20) Held by the public ,407 3,236 7, ,895 14,249 87, , ,845 9,2 370,094 12,510 97, , , ,033 10, ,305 12, , , ,958 1,442 23,372 11, ,435 10, , , , ,849 13, ,317 11, , , , ,689 10, ,235 12, , , ,968 7,393 45,108 7, ,188 10, , , ,956 6,710 66,451 14, ,432 10, , ,819 T.Q ,436 12,973 17, ,701 11, , , ,004 8,247 45,035 19, ,840 10, , , (Est. ) ,961 61, ,805 8, , , (Est.) ,048 60, ,400 7,268, , Jan... 3,980 2,8r 2,663r 12, ,907 10, , ,4 Feb ,554 14, ,348 10, , ,033 Mar ,475 9, ,207 10, , ,383 Apr... 3, ,469 17, ,023 10, , ,590 May... 2, ,043 6,9 672,109 10, , ,719 June... 1, ,194 16, ,425 10, , ,237 July... 1,824 1,678 8,678 10, ,864 10, , ,039 Aug... 3,940 1,535 5,044 7, ,174 10, , ,819 Sept... 2,159 1,634 1,545 19, ,840 10, , ,843 Oct... 2, ,663 7, ,403 10, , ,694 Nov... 1, ,269 5, ,972 10, , ,548 Dec... 1,430 1,258 4,852 12, ,943 10, , , Jan ,146 3,717 12, ,595 10, , ,546 Fiscal 1978 to date... 1,252 2,167 32,500 12, ,595 10, , ,546 Footnotes on following page. ' (2 1)

10 2 Treasury Bulletin.FEDERAL FISCAL OPERATIONS* Footnotes to Table FFO1. Source: Monthly Treasury Statement of Receipts and Outlays of the United States Government. Note: Budget estimates are based on the 1979 Budget of the U.S. Government, released January / Budget re jei.pt s and outlays are revised to reflect Farned Income Credit payment in except, of an individual's tax liability, formerly treated as outlays, and now classified as income tax refunds. 2/ For detail see Table FFO2. 2/ For detail see Table FFO3. U As of July 31, 1974, public debt outstanding has been adjusted to exclude the notes of the International Monetary Fund to conform with the "budget presentation. 5/ For detail see Table FFO6. 6/ Current fiscal year to date transactions through June 30, 1974, are on the Daily Statement of the U.S. Treasury clearance date basis and are converted to accounting date basis at June 30 (final) only. Prior fiscal year amounts include transactions in transit as of June 30. For amounts in transit see Table FF010 in the October 1974 Bulletin. 2/ As of July 1974, balances shown under "Within general accounts of the U.o. lreasury" are now presented m columns 9, 11, and 13. 8/ Represents holdings of special drawing rights, less certificates issued to Federal Reserve banks. 2/ Represents activity of the International Monetary Fund. 10/ Includes: public debt accrued interest payable to the public, deposit funds, miscellaneous asset and liability accounts, and as of July 1974, the gold balance. 11/ Includes* Seigniorage; increment of gold; fiscal 1969 conversions of certain corporations to private ownership; fiscal 1970 reclassification of Commodity Credit Corporation certificates of interest; fiscal 1974 conversion of interest receipts of Government accounts to an accrual basis; and net outlays of offbudget Federal agencies. Also includes rural electrification and telephone revolving fund since May 12, 1973, Postal Service fund since July 1973, Federal Financing Bank since July 1974, housing for the elderly or handicapped fund from August 22, 1974, through September 30, 1977, and Pension Benefit Guaranty Corporation since September 17, / For detail see Table FD6. r Revised. n.a. Not available.

11 March FEDERAL FISCAL OPERATIONS*. Table FFO2. Budget Receipts by Source Fiscal year or month Net budget receipts 1 / (In millions of dollars) Income taxes Individual Corporation Withheld 2/ Other Refunds 1/ Net Gross Refunds Net 1 Net income taxes 187,784 70, 27,258 10,1 87,249 38,338 1,660 36, , ,743 77,416 26,236 13,240 90,412 35,037 2,208 32, , ,392 76,490 24,262 14,522 86,230 30,320 3,535 26, , ,649 83,200 25,679 14,143 94,737 34,926 2,760 32, , ,225 98,093 27,019 21, ,246 39,045 2,893 36, , , ,092 30,812 23, ,952 41,744 3,125 38, , , ,071 34,328 34, ,386 45,747 5,125 40, , , ,441 35,528 28, ,795 46,783 5,374 41, ,204 81,687 32,950 6,809 1,044 38,715 9,809 1,348 8,460 47, , ,857 42,062 30, ^725 60,'057 5,164 54^892 21i; (Est.) , ,159 45,702 35, ,828 64^267 5,318 58, , (Est.) , ,496 28,817 41, ,077 68,047 5,560 62, , Jan... 29,954 ll,979r 6,1131* 7r 18,085 2, ,694 19,780 Feb... 24, 11,405 1,154 4,190 8,370 1, ,318 Mar... 24,817 12,972 2,719 9,3 5,777 9, ,719 14,497 Apr... 39,832 11,804 14,581 7,909 18,476 8, ,974 26,449 May... 27,549 12,999 2,092 5,801 9,289 1, ,096 10,386 June... 43,075 12,178 6, ,949 14, ,379 32,328 July... 24,952 12, ,438 1, ,538 13,976 Aug... 29,676 12, ,725 1, Sept... 13,534 36,642 11,777 5, ,327 8, ,376 25,703 Oct... 24,127 12, ,275 2, ,445 14,721 Nov... 27,596 12, ,171 1, ,092 Dec... 32,794 13, ,941 9, ,212 23, Jan... Fiscal ,201 13,111 7, ,217 2, ,9 22,208 to date ,718 52,147 9, ,605 15,367 1,798 13,569 74,174 Social insurance taxes and contributions Fiscal year or month Oldage, disability, and hospital insurance Employment taxes and contributions Railroad retirement accounts Gross Refunds Net Gross Refunds Net Net employment taxes and contributions Gross Unemployment insurance Refunds Net unemployment insurance 33, , * ,236 3, ,328 38, , * 9 39,133 3, ,464 41, , * ,699 3, ,674 45, ,111 1, ,008 46,120 4, ,357 54, ,687 1, ,189 54,876 6, ,051 65, ,481 1,412 * 1,411 65,892 6, ,837 74, ,715 1,490 * 1,489 75,204 6, , , ,384 1,525 * 1,525 79,909 8, ,054 T.Q... 21,475 21, * ,803 2, ,698 90, ,302 1,909 * 1,908 92,210 11, , (Est.) , ,128 1,858 * 1, ,986 14, , (Est.) , ,556 2,053 * 2, ,609 16, , Jan... 6,492 6, * 18 6, Feb... 9,067 9, , * 997 Mar... 6,696 6, * 162 6, Apr ,981 8, * 18 8,999 1, ,296 May... 9,864 9, * ,160 3, ,582 June... 7, , * 170 7, July... 6,690 6, * 34 6, ,034 10, * ,347 2, ,16 1 7,160 7, * 139 7, Oct... 5,490 5, * 52 5, Nov... 8, * 304 8,750 1, ,216 Dec... 5, * 163 6, L978Jan... Fiscal 1978 Footnotes at end of table. 7,141 7, * 16 7, ,951 26, * ,486 2, ,284

12 Treasury Bulletin FEDERAL FISCAL OPERATIONS Table FFO2. Budget Receipts by Source Continued Fiscal year or month Social insurance taxes and contributions Continued Federal supplementary medical insurance insurance and retirement Federal employees retirement Other retirement (In millions of dollars) social insurance taxes and contributions Miscellaneous Excise taxes Airport and airway trust fund Gross Refunds Net Gross Refunds Net , ,353 39,8 10, , , ,701 45,298 10, , ,253 1,6 37 3,207 48,578 10, , ,340 2, ,437 53,4 10,562 1,056 9, ,427 2, ,614 64,542 9, , ,704 2, ,051 76,780 9, , ,901 2, ,466 86,441 9, , ,937 2, ,752 92,714 10, , T.Q ,258 25,759 2, , ,192 2,0 59 5, ,683 9, ,648 1, , (Est.)... 2,408 3, , ,122 11, ,777 1, , (Est.)... 2,631 3j26r 5, ,889 17, ,968 1,0 2 1, Jan r 7, Feb , * 87 Mar , * , * May , * 94 June , * , , Sept , Oct , Nov , , Jan , Fiscal , ,827 31,597 3, , Fiscal yesi or month Excise taxes Continued Estate and gift taxes Customs duties Net miscellaneous receipts Highway trust fund Gross Refunds Net JM6X excise taxes Gross Refunds Net Gross Refunds Net Deposits of earnings by Federal Reserve banks All other , ,637 15,222 3, ,4 2, ,319 2, , , ,354 15,705 3, ,644 2, ,430 3, , , ,542 16,614 3, ,735 2, ,5 3, , , ,322 15,477 5, ,436 3, ,287 3, , , ,665 16,260 4, ,7 3, ,188 3, , , ,260 16,844 5, ,035 3, ,334 4, , , ,188 16,551 4, ,611 3, ,676 5, /6, , ,413 16,963 5,307 5,216 4, ,074 5,451 2,576^/8,028 T.Q... 1, ,676 4,473 1, ,455 1, ,212 1, , , ,709 17,548 7, ,327 5, ,150 5, , (Est.)... 7, ,086 20,150 5, ,618 5, ,792 6, , (Est.)... 7, ,418 25,475 6, ,067 6, ,390 6, , Jan , Feb ,294 1, , Mar , , May , , July , , Sept , , Now , Dec , Jan... Fiscal , , ,367 6,098 1, ,778 1, ,860 2, ,211 Source: Monthly Treasury Statement of Receipts and Outlays of the election campaign fund. Prior to February 1974, these taxes were United States Government. included in "Other. Note: Budget estimates are based an the 1979 Budget of the U.S. 2/ Includes $442,615 thousand in fees for licenses to import petroleum Government, released January 23, and petroleum products. 1/ Budget receipts are revised to reflect Earned Income Credit payments 4/ Included $1,670 million in fees for licenses to import petroleum and in excess of an individuals tax liability, formerly treated as outlays, and now classified as income tax refunds. * Less than $500,000. petroleum products. 2 j Includes individual income taxes designated for the Presidential r Revised.

13 BUDGET RECEIPTS BY SOURCE Fiscal Years Comparison first four months WM F Y 1977 and F Y T.Q C\//i!nn T n v n p if in ik ////z T.Q. ' '///// w « W a / 0, 4 0 0, m y/ m T.Q O t h e r V ' / y/ M ~~ '0 0 4 '4 0 % ', W W i y /m,. H * w k, Y M m k h l T.Q T.Q Source: Monthly Treasury Statement of Receipts and Outlays of the U.S. Government. For actual amounts see preceding Table FFO2. 1 / Includes estate and gift taxes, customs duties, and miscellaneous receipts.

14 6 Treasury Bulletin.FEDERAL FISCAL OPERATIONS. Table FFO3. Budget Outlays by Agency (In millions of dollars) Fiscal year or month Legislative branch The judiciary Executive Office of the President Funds appropriated to the President Agriculture Department Department t)efense Department Military Civil Health, Energy Education, Department & Welfare 1/2/ Department Housing & Urban Development Department Interior Department 2/!/ Justice Department T.Q (Est.) 1979 (Est.) 1977Jan... Feb... Mar... Apr... May,.. June.. July., Aug... Sept.. Oct... Nov..., Dec.,. 1978Jan., ,057 1,175 59r $ ? ,967 4,774 4,540 4,269 3,733 4,015 3,572 3,525 1,221 2/497 4,6 5, , ,330 8,307 8,560 10,943 10,028 9,767 9,725 12,796 am 22,625 17,727 1,372 1,286 1,705 1,825 1,102 1, ,674 1,471 1,773 2,840 3,018 2, ,028 1,188 1,250 1,368 1,455 1,583 2, ,oJ/ 4,524 4, , , ,297 77,625 85,420 88,036 21,926 95,'51 105, ,200 7,997r 7,907 8,146 7,745 7,954 8,364 8,317 7,851 8,094 7,992 8,721 8,200 8,123 1,268 1,211 1,376 1,530 1,703 1,682 2,051 2, ,536 2, ,607 2,610 2,439 2,545 2,558 2,493 3,524 3,888 1,000 5,223 8,152 10, ^ ,594 52,338 61,866 71,779 82,042 93, , ,785 m i 164, ,265 11,8 12,136 12,458 12,318 12,311 12,434 12,387 12,961 12,944 12,774 13,300 13,179 13, ,603 2,890 3,642 3,592 4,786 7,488 7,079 1,397 5,832 8, , ,256 2,236 4,881 2,162 2, ,085 3,904 4, r ' ,180 1,531 1,797 2,067 2, ,350 2,527 2, Fiscal 1978 to date ,320 1,327 33, ,789 52,378 2,699 1, Fiscal year or month Labor Department Treasury Department Interest on the Other public 2/6/ debt 4/ State Department Transportation Department Environmental Protection Agency General Services Administration National Aeronautics a'nrj Space Admin. Veterans Administration Other independent agencies 2/ Undistributed Offsetting Receipts 2/ 1/ Rents and Royalties <xi the Outer Continental Shelf lands Other / ,475 " 437 J 5,970 16, ,247 7,669 ' 4,734. 5, , , ,417 19, ,749 8,653 7,089 6, , , ,247 20, ,381 9,756 8,715 7, , , 10, ,531 21, ,422 10,710 9,878 7, , , ,183 24,167 6,792 1, ,311 11,968 U,832 8, , , ,112 29,319 6,674 2, ,252 13,337 13,988 9, , , ,247 32,665 8,512 2, ,267 16,575 18,433 2,428 11, , ,742 1,061 11,936 37,063 6,464 3, ,670 18,415 19,003 2,662 12, ,648 T.Q... 5, ,003 8,102 1,512 1, ,957 5,851 1,311 1,255 94, ,... 22,374 1,132 12,514 41,900 7,660 4, ,944 18,019 19,811 2,374 12, , (Est.)... 23,742 1,247 14,395 48,600 8,088 5, ,982 18,898 24,467 2,000 13, , (Est.)... 25,134 1,355 15,798 55,400 7,212 5, ,269 19,238 27,699 1,800 14, , Jan... 2, ,881 1, ,640 l,129r ,617 Feb... 2,038 HI 781 2, , ,735 Mar.... 2, , ,611 1, ,292 Apr... 1, ,878 2, ,683 1, ,363 May... 1, , ,649 1, *,592 June... 1, ,012 6, ,218 1, ,8 32,881 JUly... 1, ,065 2,909 2, ,334 1, ,630 Aug... 1, ,192 2, ,417 1, ,720 Sept,... 1, ,328 2, ,329 1, ,097 Oct ,308 3,083 2, ,574 3, ,790 Nov,... 1, ,163 3, HI 339 1,597 1, ,864 Dec.... 1, ,123 6, ,604 1, ,965 37, Jan... 2, ,145 3','282 1, , ,7 Fiscal , ,738 16,479 3,390 1, ,284 6,458 9, , ,218 Source: Monthly Treasury Statement of Receipts and Outlays of the United States Government. Budget estimates are based on the 1979 Budget of the U.S. Government, released January 23, 1978, Note: Outlays consist of disbursement less Proprietary receipts from the public and certain intrabudgetary transactions. Agency shifts are shown in this table beginning with the period of such shifts; figures prior to the shifts have been adjusted. The ExportImport Bank was moved within the Budget effective October 1, 1976 pursuant to Public Law Adjustments are made to include totals for the period it was outside the Budget (August 17, 1971 through September 30, 1976). Also, adjustments are made to reflect certain ExportImport Bank borrowing transactions now classified as agency debt. These transactions were previously reported as offbudget negative outlays. 1/ Pursuant to Public Law 95, as of October 1, 1977, all functions of the Energy Research and Development Administration, Federal Energy Administration, and Federal Power Commission, and certain functions of Interior (Bonneville Power Administration and other power administrations), certain other departments, and the Interstate Commerce Commission were transferred to the Energy Department. dj Cumulative year to date figures may not add due to budget realignments. 2/ Prior to January 1975, Rents and Royalties on the Outer Continental lands were shown as proprietary receipts from the public for the Interior Department. To conform with the FY 1976 Budget Document1s presentation, these amounts were reclassified and are now being shown as undistributed offsetting receipts. y Reported on an accrual basis. j / For content see Table FF04. 6/ Budget Outlays are revised to reflect Earned Income Credit payments xn excess of an individual's tax liability, formerly treated as outlays, and now classified as income tax refunds, r Revised.

15 March 1978 FEDERAL FISCAL OPERATIONS 7 Table FFO4. Undistributed Offsetting Receipts Fiscal year or month (In millions of dollars) Federal employer contributions to retirement funds Interest credited to certain Government accounts Health, Education, Civil Service Defense Healthj,Education, and Welfare Department and Welfare Dept. Commission Department Federal Other Soldiers' & Federal OldAge Federal Federal Supplementary Federal OldAge, Civil Service 1/ Airmen's and Survivors Disability Hospital Medical Disability, and Retirement and Home Insurance Insurance Insurance Insurance Hospital Insurance Disability Fund Permanent Trust Fund Trust Fund Trust Fund Trust Fund Fund , , , , , , , , , , , , , , , , , , ,082 1, , , ,138 2,080 1,024 4, , ,152 2,192 1,204 4, , (Est.)... 1,272 2,495 1,258 VJCi 6 2, (Est.)... 1,386 2,508 1,263.>/ 6 1, Jan r r 2 1 Feb Mar Apr May June July * Sept Oct Dec Jan Fiscal 1978 to date , , Fiscal year or month Labor Department Unemployment Trust Fund Transportation Department Highway Trust Fund Interest credited to certain Government accountscontinued Veterans Administration Civil Service Commission Rents and royalties on the Outer National Railroad Other Continental Retirement Shelf lands Board 2/ 2/ Government Life Insurance Fund Service Life Insurance Fund Civil Service Retirement and Disability Fund ,099 5, * ,936 6, , ,765 7, , ,089 7, , ,452 8, , ,574 9, , ,690 2,428 14, , ,800 2,662 14,704 T.Q * ,311 2, , ,131 2,374 15, (Est.) , ,595 2,000 15, (Est.) , ,064 1,800 16, Jan * Feb * * Mar * * * * * June , , ,211 July * * 3 * * ,338 Aug * A 587 Sent * Oct * * * ,021 Dec , , , Jan * * 49 * Fiscal , , ,083 Source: Monthly Treasury Statement of Receipts and Outlays of the United foreign service retirement and disability fund, and Airport and Airway States Government. ^ Note: Budget estimates are based on the 1979 Budget of the U.S. trust fund. %/ Prior to January 1975, Rents and Royalties on the Outer Continental Government, released January Shelf Lands were shown as proprietary receipts from the public for 1/ Includes receipts from offbudget Federal agencies to the Civil Service Retirement and Disability Fund as of May the Interior Department. To conform with the FY 1976 Budget Document's presentation, these amounts were reclassified and are now 2/ Beginning fiscal 1974, includes adjustments of interest on public debt being shown as undistributed offsetting receipts. As a result, the issue to convert to the accrual basis. Also includes Indian tribal detail will not add to the Fiscal Year 1974 totals, funds, Interior Department, Judicial survivors annuity fund, State, * Less than $500,000. r Revised Grand total

16 Oo Function Table FFO5 Budget Outlays by Function (in millions of dollars) F.Y F.Y Jan. Feb. Mar. Apr. May June July Aug. Sept, Oct. Nov* Dec. Jan. Cumulative to date 1 / 2/ National defense Outlays ,598r 8,419 9,550 9,007 8,785 9,587. 8,438 9,671 9,395 8,470 9,644 9,202 8,972 36,289 Proprietary receipts from the public... l,526r , , , Intrabudgetary transactions 999 2, * * 3 * 18,,,.,,,..., ,073r 8,131 8,572 7,976 8,555 8,404 8,004 8,412 8,979 8,087 8,974 8,417 7,974 33,450 International affairs O u t l a y s r a ,689 Proprietary receipts from the public,., 62r * Intrabudgetary transactions * 18 * 5 * * 83..., r 381 5a ,368 General science, space. and technology Outlays ,521 Proprietary receipts from the public.,. 1 * * * * * * * r ,519 Natural resources, environment, and energy O u t l a y s l,204r 1,068 1,317 1,294 1,385 1,559 1,502 1,664 1,9 12 1,382 1,622 1,701 1,318 6,018 Proprietary receipts from the public,.., 212r Intrabudgetary transactions * 1 1 X * 4 1 5, r 895 1,180 1,077 1,239 1,421 1,266 1,404 1,511 1,259 1,526 1,561 1,152 5,495 Agriculture Outlays ,095 1,597 1,724 1,743 6,160 Proprietary receipts from the public... 22r r ,103 1,553 1,697 1,790 6,143 Commerce and transportation Outlays r 318 1,271 1,321 1,592 1, ,874 3,5 1,783 1,582 1,362 8,323 Proprietary receipts from the public Intrabudgetary transactions.... * * * * * * * * * * r 323 1,265 1,316 1,586 1, ,863 3,586 1,777 1,551 1,359 8,277 Community and regional development Outlays r , r ,436 Proprietary receipts from the public... A * Intrabudgetary transactions r ,058 Education, training, employment and social 755 3,236 services O u t l a y s... 1,542 1,587 1,646 1,606 1,630 1,773 1,658 1,972 1,801 1,758 1,839 1, * 1,997 7,373 Proprietary receipts from the public , ,541 1,585 1,645 1,604 1,628 1,772 1,656 1,970 1,801 1,761 1,834 1,778 1,996 7,370 Comparable period fiscal ,854 4,200 L 29,657 1, ,671 1, ,553 5, ,494 2, ,933 5, ,618 2, ,200 5, ,941 *1 M o * > F" *1 hh GO o > t1 o w S3 H O 2GO Footnotes at end of table.

17 Function Table FFO5. Budget Outlays by Function Continued F.Y (In millions of dollars) Jan. Mar. Apr. May July Aug. Sept. Mot. F;y ; 1978 Jan. Comparable Cumulative period to date fiscal 1/2/ 1977 & 't V O \ l 00 Health Outlays... Proprietary receipts from the public, Intrabudgetary transactions Income security Outlays.... Proprietary receipts from the public, Intrabudgetary transactions Veterans benefits and services Outlays... Proprietary receipts from the public, Intrabudgetary transactions Law enforcement and.justice Outlays.... Proprietary receipts from the public, Intrabudgetary transaction General government Outlays... Proprietary receipts from the public, Intrabudgetary transactions Revenue sharing and general purpose fiscal assistance Outlays Proprietary receipts from the public, Intrabudgetary receipts Interest Outlays.... Proprietary receipts from the public, Intrabudgetary transactions Undistributed offsetting receipts... Net Budget outlays... 3,356r 4 3r 2,961 12,381r r 752r 11,629 l,679r 44 1,634c r r 2,062 2,062 2, , ,6l8r 3, ,064 11,751 * ,574 1, , " , ,735 3, ,199 2,674 13,522 * ,6 1, * 1, , ,292 3, ,241 12,012 * ,448 1, , T I T 3,767 1,664 2,103 2, , ,363 3, ,317 11,627 * 11,445 1, , ,373 3, , ,592 3, ,398 12,435 * 1,306 11,129 1, * 1, S T , ,908 4,211 32,881 3, ,115 11,734 * ,590 1, , ,257 2,257 2, ,630 3, ,469 11,603 * 5 11,598 1, * 1, ,720 3,550 * 234 3,316 11,652 * 9 11,643 1, * 1, , , , , ,097 3, ,355 11, ,476 1, , ,129 6,855 2,274 2, , , ,017 2,613 12, ,635 1, , , ,758 1,021 38,790 36,864 4, ,554 12,959 * ,305 2, , , ,236 4,063 3^646 3, ,680 12, , , ,317 3, , ,8 14, ,447 12,202 50, ,128 6, ,457 1, ,203 1, ,045 11,736 6,858 4,878 15, ,529 6, ,218 15, ,026 13,298 46,669 2,427 44,242 6, ,195 1, ,319 1, , ,767 14, ,487 5, ,585 *1 H G W W > tn HH GO o >f o H 5HH o 2CO Source: Monthly Treasury Statement of Receipts and Outlays of the United States Government. Note: The ExportImport Bank was moved within the Budget effective October 1, 1976 pursuant to Public Law Adjustments are made to include totals for the period it was outside the Budget (August 17, 1971 through September 30, 1976). Also, adjustments are made to reflect certain ExportImport Bank borrowing transactions now classified as agency debt. These transactions were previous]y reported as offbudget negative outlays. 1/ Monthly totals may not add to cumulative due to budget reclassifications. 2/ Budget outlays are revised to reflect Earned Income Credit payments in excess of an individual's tax liability, formerly treated as outlays,. and now classified as income tax refunds. * Less than $500,000. r Revised. VO

18 10.FEDERAL FISCAL OPERATIONS. Treasury Bulletin Table FFO6. Investment Transactions of Government Accounts in Federal Securities (Net) Fiscal year or month T.Q (Est.) (Est.)... Federal OldAge and Survivors Insurance Trust Fund 2,898 3,953 1,274 1,827 2,298 2,217 2,175 1, ,645 4,706 3,158 Health, Education, and Welfare Department Federal Disability Insurance Trust Fund 1,121 1,342 1, , , Federal Hospital Insurance Trust Fund ,338 3,642 1,897 1, ,632 Federal Supplementary Medical Insurance Trust Fund , (In millions of dollars) Other Housing and Urban Development Department TST" Government National Mortgage Assn. Federal Housing Administration Participation Sales Fund " W Other ' Labor Department Federal Insurance Administration Unemployment Trust Fund ,747 1,428 1,144 1,165 4,938 2, ,073 3,600 5,200 Other Ja n Feb... Mar*... Apr... May... June... July... Aug... Sept... Oct... NOv... Dec Ja n Fiscal 1978 to date 1, ,693 1,0 1,252 1,732 1,019 *2, ,289 4, , , , , * * , , ,050 Fiscal year or month Transportation Department Airport and iighway Airway trust Fund Trust Fund Treasury Department Veterans Administration National Service Life Insurance Fund Other Civil Service Commission Federal Deposit Insurance Corporation Federal Savings and Loan Insurance Corporation Postal Service Railroad Retirement Board , , , , , ,033 1, , , , , , , , , , , , , ,058 1, , , , ,030 4, * , , , , (Est.) , , (Est.) ,606 1, , Jan ,099 Feb Mar Apr May ,930 June , , ,767 July ,460 Aug ,114 Sept , ,629 Oct ^ 15 1, ,296 Nov ,685 Dec , Jan ,370 Fiscal 1978 to date , ,020 All other Source: Monthly Treasury Statement of Receipts and Outlays of the United States Government. Budget estimates are based on the 1979 Budget of the U.S. Government, released January 23, Note: ^Figures may not add due to rounding. * Less than $500,000.

19 Table FFO7. Trust Funds Transactions October 1, 1977 through January 31, 1978 (In millions of dollars) & Receipts Outlays Classification in trust funds Trust interfund and proprietary receipts 1/ Receipts of trust funds Interfund transactions 2J Unified budget receipts attributable to trust funds 2/ in trust funds Trust interfund transactions Proprietary receipts from the public Outlays of trust funds Federal Federal payments and con employer tribu tions contributions Interfund transactions Interest and profits on investments in Federal securities Other u Unified budget outlays attributable to trust funds Excess of receipts or outlays () vo "vl 00 (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11) (12) (13) (14) (15) (16) Federal OldAge and Survivors Insurance... 21,680 * 21,680 1,921 19,760 25,948 * 25, ,022. 1,021 24,027 4,268 Federal Disability Insurance... 3,131 3, ,842 4,130 4, , Federal Hospital Insurance... 4,943 4, ,350 5,742 5, , Federal Supplementary Medical Insurance... 3,172 3,172 2, ,106 2,106 2, , ,065 Federal Employees Retirement... 3, ,677 2,630 1,047 3, , ,046 1, , Federal Employees Life and Health Benefits Federal Deposit Insurance Corporation Airport and Airway... General Revenue Sharing... Highway ,855 2, ,855 2, ,855 2, ,408 2, ,408 2, ,408 1, , Military Assistance Advances.... 2,552 2,552 2,359 2, Railroad Retirement C ,314 1, , Unemployment... 2,570 2, ,284 3,951 3, ,665 1,381 Veterans Life Insurance All other trust funds ,952 2,842 50,111 8,871 41, ,838 52,700 3,194 1,433 3, ,871 43,829 2,589.FEDERAL FISCAL OPERATIONS Source Based on Monthly Treasury Statement of Receipts and Outlays of the United States Government. 1/ Note: The memorandum section of various tables in the Federal Budgets 2/ presents the trust fund receipt and outlay data on the same concept as 2/ columns (3) and (9) above. Trust interfund transactions are payments from one fund to another trust fund and are excluded in calculating trust fund receipts and outlays. The intragoveramental transactions are payments from Federal funds to trust funds, and vice versa, but * exclur< $61 nullion in trust fund payments to Federal funds. For content see columns 7 and 8. For content see columns Includes net taxes and other receipts, mainly deposits by States and Federal employee retirement contributions. Excludes trust fund payments to Federal funds, such as charges for administrative expenses of Social Security Act. Less than $500,000.

20 12.FEDERAL OBLIGATIONS. Treasury Bulletin "Obligations are the basis on which the use of funds is controlled in the Federal Government. They axe recorded at the point at which the Government makes a firm commitment to acquire goods or services and are the first of the four of categories which are based upon the nature of the transaction without regard to its ultimate purpose. All payments for salaries and wages, for example, are reported as personnel compensation, whether the personal services are used key events order, delivery, payment, consumption which in current operations or In the construction of capital items. Federal agencies and firms often do business with one another; in doing so, the "buying" agency records obligations, characterize the acquisition and use of resources. In general, they consist of orders placed, contracts awarded, services received, and similar transactions requiring the disbursement of money. and the "performing" agency records reimbursements. In Table The obligational stage of Government transactions is a strategic point in gauging the impact of the Government's operations on the national economy, since it 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 after the Government places its order but the order itself usually causes immediate pressure on the private economy. Obligations are classified according to a uniform set FO1, obligations that are incurred within the Government are distinguished from those incurred outside the Government. Tables FO2, 3> and U show only those incurred outside. Obligation data for the administrative budget fund accounts were first published in the September 1967 Treasury Bulletin and the trust fund accounts were first published in the October 1967 Bulletin. Beginning with the April 1968 Bulletin, the data are on the basis of the budget concepts adopted pursuant to the recommendations of the President's Commission on Budget Concepts. The November 1977 through January 1978 obligations data are not included an this issue due to certain unavoidable delays m processing. This data will be published m subsequent Bulletins.

21 March FEDERAL OBLIGATIONS. Table PO1. Gross Obligations Incurred Within and Outside the Federal Government by Object Class, October 31, 1977 Object class (In millions of dollars) Gross obligations incurred Outside Within Pergpmi sgmgss.mva foments 4,552 4,552 Personnel benefits *... Benefits for former personnel coatrfrqtw4., seryiggs gmd siappues Travel and transportation of persons Transportation of things Rent, communications, and utilities Printing and reproduction Other services ,601 2,407 8,008 Supplies and materials ,364 J.,±oy 1 18Q 4,553 Equipment , ,303 Lands and structures Investments and loans ^ Grants, subsidies, and contributions ,853 9,853 Insurance claims and indemnities ,316 10,316 Interest and dividends , ,484 Refunds Other Undistributed U.S. obligations Obligations incurred abroad « Unvouchered * 15 Gross obligations incurred 1/ J.'X coo 6,198 49,220 Source: Reports on Obligations, Standard Form 225, from agencies. 1/ For Federal Budget presentation a concept of "net obligations incurred" is generally used. This concept eliminates transactions within the Government and revenue and reimbursements from the public which by statute may be used by Government agencies without appropriation action by the Congress. Summary figures on this basis follow. (This data is onthe 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)... Deduct: Advances, reimbursements, other income, etc. Offsetting receipts.... Net obligations incurred * Less than $500,000. Table FO2. Gross Obligations Incurred Outside the Federal Government by Major Function Major function and Major Object Class, October SI, 1977 (In millions of dollars) 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 National defense... 3,733 6,317 2, ,640 International affairs * * General science, space, and technology Natural resources, environment, and energy , * 2,081 Agriculture * * 1, ,947 Commerce and transportation ,415 Community and regional development * Education, manpower, and social services * 1,152 * 1,321 Health , ,379 Income security * 1 11, ,877 Veterans benefits and services , ,715 Law enforcement and justice * 394 General government * 645 General revenue sharing... * * * 2,380 2,380 Interest ,437 2,485 * Less than $500,000. Other 49,220 10,528 8,323 30,369 5,545 9,616 2, ,703 22, ,022

22 Classification Table FO3. Gross Obligations Incurred Outside the Federal Government by Department or Agency, October 31, 1977 (In millions of dollars) Personnel services & benefits Contractual services and supplies Acquisition of capital assets Personnel compensation Personnel benefits 1/ Benefits for former personnel Travel and transportation of persons Rent, communications, and Printing Transportation of and reproduction things utilities Other services Supplies and materials Equipment Lands and structures Investments and loans Grants, subsidies and contributions Grants and fixed charges Insurance claims Interest and dividends Refunds Other and indemnities Undistributed U.S. obligations Obligations incurred abroad 20 * * * 54 The Judiciary... " " Executive Office of the President... 2 * 1 * " 4 Funds appropriated to the President: International security assistance: International development assistance 2 * * * 1 * * * * 2 * * * «* * * * 2 27 Agriculture Department: , * * , , * * 1 54 * * Defense Department: Military: Department of the Army... 8^5 37 * * * * ,715 1, , «* * 7 4, * , * 40 * # 3,531 Defense agencies * * * , * * 6 * * 2 9 2, ,974 1,981 2, ,623 Unvouchered gross obiigations incurred * 57 1 * 1 * * * * 402 Energy Department... 6 * * * If i * * * 1 7 Health, Education, and Welfare * ,353 Housing and Urban Development Dept.: Government National Mortgage * 2 2 Housing for the elderly or handicapped /..... Other * 2 * * 8 * * * * Justice Department * 5 * 7 * * * * * 3 * 12 1 «* , * 3 1 *. * Transportation Department * * * Treasury Department: Interest on the public debt... 2,410 2,410 Interest on refunds, etc General revenue sharing... 2,274 2, * ,872 8,173 * 36 * 11,214 Environmental Protection Agency... 1 * 9 * * General Services Administration * * 7 49 * «4 356 National Aeronautics and Space Administration * 2 * 13 * * 595 Veterans Administration * ,744 Other independent agencies: 1 * * * * * * * 125 Small Business Administration... 8 * * * * * 30 * * 99 * 138 Tennessee Valley Authority * 24 2 * * 36 * 950 6l 1 4 * * * 9 1, ,601 3,364 2, ,703 9,853 10,316 2, ,022 Offbudget Federal agencies lj/; Postal Service... 1, ,248 Rural Electrification Administrate>n " 13 6 " 136 Pension Benefit Guaranty Corporation... 1 * 1 * * 1 3 Offbudget Federal 1, ,387 Source: Reports on Obligations, Standard Forms 225, from agencies. Note: Agency shifts are shown in this table beginning with the periods of such shifts. The amounts for the complete fiscal year are adjusted at that time. 1/ For purposes of this report this object class is considered as totally within the Federal Government except for the Department of Defense and Transportation Department, U.S. Coast Guard. 2/ Includes reports for Library of Congress, Government Printing Office, and General Accounting Office only. 3/ This fund was reclassified from an offbudget to a budgetary account pursuant to an act approved Oct. 4, / Postal Service since July 1,1973, Rural Electrification Administration revolving funds since May 12, and Pension Benefit Guaranty Corporation since Sept. 17, * Less than $500,000. I a 5?

23 Object class Table FO4. Gross Obligations Incurred Outside the Federal Government,, Comparative Statement by Month FY 1977 n 1978 Oct. Nov. Dec. Jan. Feb. Mar, Apr. May June July Aug. Sept. Oct. Comparable Period FY 1977 Naijtoal, de ess$: Personal services and benefits: Personnel compensation... 2,83 4 2,640 2,562 2,730 2,583 2,794 2,832 2,505 3,018 1,817 3,618 5,378 2,921 2,834 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... 3,686 2,089 2,472 1,841 1,869 2,395 2,653 1,587 1,470 1,352 1,123 2,886 3,981 3,686 Supplies and materials... 1,753 1,762 1,794 1,767 1,697 1,758 1,989 1,561 2,253 1,454 1,337 2,128 1,982 1,753 Acquisition of capital assets: Equipment ,534 1,771 1,974 1,607 1,628 1,472 1,969 1,314 1, ,383 2,173 2,004 1,534 Lands and structures , Investments and loans... * * * * 1 * Grants and fixed charges: Grants, subsidies, and contributions Insurance, claims and indemnities Interest and dividends Other: Undistributed U.S. obligations * * Obligations incurred abroad ,347 2, national defense... 12,070 10,018 10,562 9,904 9,605 10,434 11,292 8,751 10,883 6,746 10,840 10,646 12,640 12,070 & VO ^ Personal services and benefits: Personnel compensation... 1,495 1,606 1,700 1,807 1,189 1,708 1,619 1,590 1,690 1,543 1,777 1,904 1,631 1, , Contractual services and supplies: Travel and transportation of persons Transportation of things , Rent, communications, and utilities Printing and reproduction ,294 1, ,24 1,104 1,220 1,108 1,074 1, ,352 2,929 1,620 1,294 1, ? , ,125 1,382 1,141 Acquisition of capital assets: Investment and loans ,460 1,558 1,037 1,454 1,304 2,117 1,457 1, ,899 5,750 1, Grants and fixed charges: Grants, subsidies and contributions... 8,743 5,117 9,225 9,007 5,994 11,995 10,134 9,081 10,0 16,304 8,373 55,961 9,850 8,743 Insurance claims and indemnities... 11,477 11,801 13,245 13,154 11,946 13,892 13,220 11,777 12,404 12,282 11,418 12,885 10,269 11,477 Interest and dividends... 2,418 2,560 5,164 2,506 2,406 2,353 2,451 2,554 4,934 2,492 2,616 2,512 2,623 2,418 Refunds Other. Undistributed U.S. obligations Obligations incurred abroad Unvouchered nondefense... 28,454 25,168 33,690 30,579 25,198 34,275 31,380 28,798 34,555 35,736 30, ,799 30,382 28,454 Grand total... 40,524 35,186 44,252 40,483 34,803 44,709 42,671 37,549 45,439 42,482 41, ,446 43,022 40,524

24 16.ACCOUNT OF THE U.S. TREASURY. Treasury Bulletin Source and Availability of the Balance in the Account of the U.S. Treasury The working cash of the Treasury is held mainly in 'Treasury s accounts with Federal Reserve banks and branches. As the balances in these accounts become depleted, they are restored by calling in (transferring) funds from the tax and loan accounts with thousands of commercial banks throughout the country. Deposits to tax and loan accounts occur in the normal course of business under a uniform procedure applicable to all banks whereby customers of banks deposit with them tax payments and funds for the purchase of Government,securities. In most cases the transaction involves merely the transfer of money from a customer1s account to the tax and loan account in the same bank. On occasions, to the extent authorized by the Treasury, banks are permitted to deposit in these accounts proceeds from subscriptions to public debt securities entered for their own account as well as for the account of their customers. The tax and loan account system permits the Treasury tc 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 neutralize the effect of its fluctuating operations on bank reserves and the economy. A detailed description of the Treasury s depositary system may be found in the Annual Report of the Secretary of the Treasury for 1973, pages End of fiscal year or month Federal Reserve banks Table UST1. Status of the Account of the U.S. Treasury Treasury operating balance 1/ Available funds in demand accounts at: Special depositaries, Treasury tax and loan accounts Other depositaries 2/ y (In millions of dollars) Funds in process of collection through: Federal Reserve banks Other depositaries i j Time deposits and other interestbearing demand accounts Other demand accounts 1/ Coin currency and coinage metal Miscellaneous items Gold balance 6/ Balance in account of the U.S. Treasury ,258 4,525 5, , ,005 6,929 8, ,01, ,274 7,372 8, a , ,344 7, , , ,038 8, , a , ,9 6, , , ,773 1, , , ,975 2, , ,065 T.Q... 13,299 4,119 17, , ,740 3,364 19, , Feb... 12,179 2,420 14, ,937 Mar... 7,149 1,874 9, ,229 13,628 4,135 17, * 19,499 May... 5,836 1,156 6, ,072 June... 15,183 1,072 16, ,487 8,789 1,365 10, ,254 6, , ,209 15,740 3,364 19, ,531 Oct... 6,398 1,289 7, * ,697 Nov.... 2,562 2,909 5, ,572 Dec... 7,114 5,160 12, , Jan... LI,228 1,253 12, ,581 3,615 3,776 7, ,331 * Source: Bureau of Government Financial Operations. 1/ Effective January 1972, the Treasury operating balance excludes the gold balance in Treasury/ 2/ Represents deposits in certain commercial depositaries that have been converted from a time deposit to a demand deposit basis to permit greater flexibility in Treasury cash management. 2/ Will not agree with Daily Treasury Statement due to rounding. i j Represents funds in process of collection by (a) the U.S. Treasury and (b) commercial banks which have been authorized to defer credit until checks are collected. Data prior to January 1972 included in "miscellaneous items" columns. *ij Represents demand deposits in National, Foreign, and other bank depositaries previously included in time deposits. 6/ The free gold balance can be readily converted to available funds with Federal Reserve banks. * Less than $500,000.

25 March ACCOUNT OF THE U.S. TREASURY Table UST2. Elements of Changes in Federal Reserve and Tax and Loan Account Balances Fiscal year or month Federal Reserve accounts 1/ Credits 2/ Withdrawals 2J (In millions of dollars) Credits and withdrawals Tax and loan accounts Proceeds from sales of securities 4/ Marketable issues Nonmarketable issues *>/ Taxes 6/ credits Withdrawals (transfers to Federal Reserve accounts) ,114 2,678 90,7 112, , ,825 2, , , , ,683 2, , , , ,375 2, , , , ,812 3, , , , ,571 3, , , , ,072 3,104 ' 197,0 209, , , ,427 2,897 3, , , , , ,282 3, , , ,494 T.Q , , ,457 59,367 58, , ,627 3, , , , Mar... 68,537 71, ,239 22,600 23, Feb... 72,365 71, ,532 18,873 17,740 Mar... 77,084 82, ,722 27,0 27,637 Apr... 84,249 77, ,905 26,256 23,995 May... 79,473 87, ,583 20,928 23,4 June... 83,004 73, ,374 32,687 32,768 July... 57,888 64, ,571 19,8 19,598 Aug... 73,727 76, ,926 20,274 20,6 Sept... 82,727 73, ,867 26,161 23,745 Oct... 62,974 72, ,210 19,494 21,569 Nov... 72,685 76, ,064 19,357 17,737 Dec... 75,460 70, ,144 27,433 25, 1978Jan... Feb... 77,164 71,338 O H 8 $ ,825 20,778 21,207 21,129 25,114 18,606 Fiscal year or month Federal Reserve End of period Tax and loan Federal Reserve Balances During period High Low Average Tax and loan Federal Reserve Tax and loan Federal Reserve Tax and loan ,074 4,113 2,197 8, , , ,258 4,525 1,586 9, , ,005 6,929 1,6 7, ,077 4, ,274 7,372 1,987 8, , ,344 7,634 3,392 10, ,737 1,894 5, ,038 8,433 5,017 10, ,342 5, ,9 6,152 4,361 9, ,102 3, ,773 1,473 9,766 7,249 * 7 2,786 1, ,972 2,856 11,972 4,260 * 67 5,105 1,394 T.Q... 13,296 4,118 13,296 4,456 2, ,824 1, ,740 3,364 16,115 6,286 1, ,035 1, Mar,t... 7, ,820 3,233 4, ,653 1, Feb... 12,179 2,424 12,815 3,023 8, ,699 1,406 Mar.... 7,150 1,878 12,745 5,860 4, ,577 1,475 Apr... 13,628 4,139 13,628 6,286 3, ,369 1,940 May... 5,838 1,153 14,475 4,771 5, ,996 1,311 June... 15,183 1,072 16,115 5,463 1, ,057 1,727 July... 8,789 1,365 12,851 2,496 5, ,843 1,234 Aug... 6, ,895 2,803 3, ,025 1,351 Sept... 15,740 3,364 15,740 5,714 3, ,956 2,147 Oct... 6,398 1,289 15,740 3,364 4, ,627 1,519 Nov ,909 6,171 2,909 1, ,399 1,169 7,114 5,160 9,963 5,542 1, ,640 2, Jan... 11,228 3,615 1,253 3,776 11,228 10,'412 5,160 3,776 4,833 3, ,519 5,707 1,562 1,382 Source: Bureau of Government Financial Operations; figures are on basis of telegraphic reports. 1/ Figures are from the revised Daily Treasury Statement, effective July 1, Prior data not available. g/ Represents transfers from Tax and Loan Accounts, proceeds from sales of securities other than Government Account Series, and taxes. 2/ Represents checks paid, wire transfer payments, drawdowns on letter of credit, redemptions of securities other than Government Account Series, etc. U 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. j>/ Includes United States savings bonds, savings notes, retirement plan and tax and loss bonds. United States savfhgs notes first offered for sale as of May 1, 1967 and were discontinued after June 30, Retirement plan bonds first offered for sale as of January 1, 1963; tax and loss bonds first issued in March / Taxes eligible for credit consist of those deposited by taxpayers in the depositary banks, as follows: Withheld income taxes beginning March 1948; taxes on employers and employees under the Federal Insurance Contributions Act beginning January 1950, and under the Railroad Retirement Tax Act beginning July 1951; a number of excise taxes beginning July 1953; estimated corporation income taxes beginning April 1967; all corporation income taxes due on or after March 15, 1968 and FUTA taxes beginning April * Less than $500,000.

26 18 ACCOUNT OF THE UJS. TREASURY Treasury Bulletin Table UST3. Gold Assets and Liabilities of the Treasury (in millions of dollars except ounces) End of calendar year or month Ounces Gold assets 1/ Dollars Gold liabilities / Balance of gold in U.S. Treasury account ,331, ,982 11, ,199, ,367 10, ,202, ,367 10, ,630, ,732 10, ,490, ,132 10, ,950, ,410 2/ 10, ,954, ,567 1/ 11, ,968, ,652 11, ,705, ,599 11, ,679, ,598 11, Feb ,932, ,650 11,650 Mar ,600, ,636 11, ,599, ,636 11,636 May ,430, ,629 11, ,220, ,620 11,620 July ,625, ,595 11, ,625, ,595 11, ,625, ,595 11,595 Oct ,625, ,595 11,595 Nov ,625, ,595 11,595 Dec ,544, ,719 11, ,543, ,718 11,718 Feb ,543, ,718 11,718 Source: Daily Treasury Statement through June 1974; Bureau of Government Financial Operations thereafter. 1/ Treasury gold stock which excludes gold held by the Exchange Stabilization Fund (ESF). See "International Financial Statistics, Table IFS1. 2/ Consists of: Gold certificates (Series 1934) issued only to Federal Reserve banks; gold certificates fundfederal Reserve System; gold deposited by and held for the International Monetary Fund from September 19, 1965,through February 15, 1972; redemption'fund for Federal Reserve notes until March 18, 1968,when it was combined with the gold certificate fund pursuant to P.L , approved March 18, 1968, and gold reserve against U.S. notes until March 18, 1968,when it was transferred to the public debt also pursuant to P.L / Gold assets were valued at $35 per fine troy ounce until May 8, 1972, when they were revalued at $38 pursuant to the Par Value Modification Act, P.L , approved March 31, The increment amounted to $822 million. Gold assets were valued at $38' per fine troy ounce until October 18, 1973, when they were revalued at $42.22 pursuant to the amending of Section 2 of the Par Value Modification Act, P.L , approved September 21, The increment amounted to $1,157 million.

27 March 1978 MONETARY STATISTICS Table MS1. Currency and Coin in Circulation T.Q End of fiscal year or month Federal Reserve bank notes (In millions of dollars except per capita figures) Currencies no longer issued National bank notes Gold cert if ideates, 2/ Silver certificates Federal Reserve notes 2/ Treasury notes of 1890 Currencies Presentlybeing issued 1/ United States notes Federal Reserve notes 4/ 44,547 47,626 51,304 54,572 59,664 65,185 72,093 79,028 79,597 87,349 currencies 45,146 48,223 51,922 55,184 60,273 65,793 72,700 79,634 80,201 87, Jan.. Feb.. Mar.. Apr.. May.. June. July. Aug.. Sept. Oct.. Nov.. Dec Jan ,093 81,612 83,236 83,745 85,324 86,315 86,663 87,488 87,349 88,372,243 93,143 90,162 81,695 82,213 83,836 84,345 85,924 86,4 87,262 88,087 87,947 88,969,840 93,740 90,758 End of Coin fiscal year or month Dollars Fractional coin Currency and Coin in circulation J5/ > Currency and Coin in circulation per capita (in dollars) 6/ 482 5,308 5,790 50, ,646 6,128 54, ,990 6,472 58, ,383 7,016 62, ,793 7,498 67, ,275 8,040 73, ,681 8,496 81, ,303 9,244 88, '297 9,348 89, ,877 9,876 97, Jan ,500 9,470, r Feb ,512 9,484, Mar ,574 9,547 93, ,632 9,615 93, May ,698 9,683 95, ,750 9,739 96, ,794 9,786 97, Aug ,858 9,856 97, ,877 9,876 97, Oct... 1,005 8,926 9,931 98, Nov... 1,010 9,006 10, , Dec... 1,013 9,058 10, ,811 2/ r 1978Jan... 1,015 9,045 10, , Source: Statement of United States Currency and Coin. 2/ Excludes gold certificates, Series of 1934, which are issued only to Federal Reserve banks and do not appear in circulation. 2/ Issued prior to January 30, / Issued prior to July 1, / Excludes Currency and Coin held by the Treasury and Currency and Coin held by or for the account of the Federal Reserve banks and agents. 6/ Based on the Bureau of the Census estimated pofsilation. 7/ Highest amount to date. * Less than $500,000. r Revised.

28 2 0 FEDERAL DEBT Treasury Bulletin End of fiscal year or month 1/ Amount outstanding Public debt securities 1/ Table FD1. Summary of Federal Debt (In millions of dollars) Agency securities Government accounts Public debt securities Securities held by: Agency securities The public Public debts securities Agency securities 367, ,895 14,249 87,661 84,815 2, , ,080 11, , ,094 12,510 97,723 95,170 2, , ,924 9, , ,305 12, , ,888 2, , ,417 9, , ,435 10, , ,460 2, , ,976 8, , ,317 11, , ,385 1, , ,932 9, , ,235 12, , ,206 1, , ,029 10, , ,188 10, , ,283 1, , ,905 9, , ,432 10, , ,611 1, , ,821 8, , ,701 11, , , , ,596 9, , ,840 10, , ,490 1, , ,350 8, Mar , ,490 10, , ,067 1, , ,423 9, Jan , ,907 10, , ,131 1, ,4 509,775 9,139 Feb , ,348 10, , ,437 1, , ,1 9,122 Mar , ,207 10, , ,949 1, , ,258 9,124 Apr , ,023 10, , ,503 1, , ,519 9,071 May , ,109 10, , ,435 1, , ,674 9,045 June , ,425 10, , ,204 1, , ,221 9,015 July , ,864 10, , ,744 1, , ,119 8,920 Aug , ,174 10, , ,860 1, , ,314 8,505 Sept , ,840 10, , ,490 1, , ,350 8,493 Oct , ,403 10, , ,195 1, , ,207 8,487 Nov , ,972 10, , ,888 1, , ,084 8, , ,943 10, , ,849 1, , ,094 8, Jan , ,595 10, , ,480 1, , ,116 8,430 Source* Monthly Treasury Statement of Receipts and Outlays of the United exclude issues to IMF and other international lending institutions to States Government, conform with the budget presentation and the source for this table. 1/ Amounts of public debt securities outstanding have been adjusted to 2/ Includes holdings of Federal Reserve Banks. End of fiscal year or month Table FD2. Computed Interest Charge and Computed Interest Rate on InterestBearing Public Debt (Dollar amounts in millions) interestbearing public debt 1/ Computed annual interest charge 2/ interestbearing public debt 1/ Toxal Computed annual interest rate Marketable issues Treasury Bills 1/ Notes Treasury bonds Other V Nanmaxket&ble Government account series j5/ 351,729 17, ,026 20, a ,289 20, ,360 21, ,353 26, ,238 30, ,122 33, ,254 39, ,560 40, ,629 44, I Mar ,224 38, Feb , , b.jjts Mar ,216 41, Apr ,509 41, May ,958 41, June ,389 42, July ,386 42, Aug ,081 43, Sept ,629 44, Oct ,301 44, Nov ,973 45, Dec ,227 46, Jan ,563 47, Feb ,474 48, Source: Bureau of Government Financial Operations. the rate of effective yield for issue sold at premiun or discount. Note: The computed annual interest charge represents the amount of interest Prior to that date it was based on the coupon rate for all issues. that would be paid if each interestbearing issue outstanding at the 1/ As of July 19/4, includes Federal Financing Bank. end of each month or year should remain outstanding for a year at the 2/ Excludes Federal Financing Bank. applicable annual rate of interest. The charge is computed for each 2J Included in debt outstanding at face amount, but discount value is issue by applying the appropriate annual interest rate to the amount used in computing annual interest charge and annual interest rate. outstanding on that date (the amount actually borrowed in the case of i j On United States savings bands the rate to maturity is applied securities sold at a premium or discount, beginning with May 1960). against the amount outstanding. The aggregate charge for all interestbearing issues constitutes the %/ As of July 31, 1974, Monthly Statement of the Public Debt of the U.S., total computed annual interest charge. The average annual rate is computed the column heading was changed to "Government account series" which by dividing the computed annual interest charge for the total, or for includes Treasury deposit funds in addition to those accounts previously shown as special issues. any group of issues, by the corresponding principal amount. Beginning with data for December 31, 1958, the computation is based on

29 March FEDERAL DEBT Table FD3. InterestBearing Public Debt End of fiscal year or month interestbearing public debt Marketable Bills 1/ Treasury notes Treasury bonds (In millions of dollars) U.S. savings bonds Investment series Nonmarketable Depositary series Foreign government series Dollar denominated 2/ Foreign currency denominated 1/ Government account series u , ,107 68,356 78,94^ 78, ,623 51,711 2, ,703 2,367 66, , ,599 76,154 93,489 62, ,426 51,281 2, ,389 1,366 76,323 1, , ,473 86, ,807 53, ,816 53,003 2, ,606 1,664 82,784 3, , ,202 94, ,419 49, ,158 55,921 2, ,3 2,072 89,598 1, , , , ,840 45, ,382 59,418 2, ,781 1, ,738 1, , , , ,419 33, ,663 61,921 2, ,412 1, ,442 2, , , , ,257 36, ,516 65,482 2, ,617 1, ,173 1, , , ,198 1,758 39, ,673 69,733 2, ,901 1, ,557 2, , , , ,319 39, ,897 70,752 2, ,215 1, ,640 3, , , ,0 241,692 45, ,121 75,4H 2, ,510 1, ,113 14, Mar , , , ,143 39, ,928 68,567 2, ,070 1, ,438 1, Feb , , , ,856 41, ,714 72,640 2, ,575 1, ,770 5,965 Mar , , , ,625 41, ,837 73,037 2, ,617 1, ,192 7,272 Apr , , , ,655 41, ,444 73,457 2, ,469 1, ,992 7,835 May , , , ,230 43, ,511 73,908 2, ,423 1, ,029 8,487 June , , , ,885 43, ,240 74,282 2, ,357 1, ,754 9,217 July , , , ,371 44, ,138 74,803 2, ,197 1, ,447 10,087 Aug , , , ,084 45, ,935 75,059 2, ,055 1, ,329 10, , , ,0 241,692 45, ,121 75,4H 2, ,510 1, ,113 14,543 Oct , , , ,587 45, ,866 75,816 2, ,861 1, ,890 12,785 Nov , , , ,104 47, ,111 76,224 2, ,455 1, ,580 13,389 Dec , , , ,800 47, ,300 76,602 2, ,018 1, ,774 14, Jan , , , ,077 48, ,783 76,987 2, ,659 1, ,364 15,390 Feb , , , ,472 50, ,707 77,415 2, ,510 1, ,422 16,019 Other Source: Monthly Statement of the Public Debt of the United States. 1/ As of July 1974, includes Federal Financing Bank. 2/ Consists of certificates of indebtedness, Treasury notes beginning January 1963, Treasury bonds beginning September 1964, and Treasury bills beginning March 1975, sold to foreign government for U.S. dollars. 2/ Consists of the dollar equivalent of Treasury certificates of indebtedness; Treasury bonds from October 1962April 1967; and Treasury notes beginning November 1966 issued and payable in designated foreign currencies. 4/ As of the July 31, 1974, Monthly Statement of the Public Debt, of the U.S. the column heading was changed to "Government account series" which includes Treasury deposit funds in addition to those accounts previously shown as special issues, formerly included in "Other" column. Table FD4. Maturity Distribution and Average Length of Marketable InterestBearing Public Debt Held by Private Investors End of fiscal year or month Amount outstanding privately held *0 161, , , , , , , ,674 Within 1 year ,311 76*443 (In millions of dollars) Maturity classes 1 5 years years years 20 years and over 50, 18,078 57*035 8; 286 m 74,803 58,557 14,503 6,357 7,645 79,509 57,157 16,033 6,358 6,922 84,041 54,139 16,385 8,741 4,564 87,150 50,103 14,197 9,930 3, ,677 65,852 15,385 8,857 4, ,723 89,151 24,169 8,087 6, ,302 94,845 31,247 7,939 7, , ,319 33,067 8,428 10, ,258 86,214 21,538 8,350 6, Mar , Jan ; , ,626 33,688 7,342 8,208 Feb , , ,685 31,204 7,2 8,860 Mar , , ,983 31,155 7,236 8,803 Apr , , ,929 33,469 7,172 8,709 May , , ,823 32,658 7,180 9,746 June , , ,000 32,442 7,092 9,598 July , , ,255 32,521 8,440 9,628 Aug , , ,681 33,260 8, ,616 Sept , , ,319 33,067 8,428 10,531 Oct , , ,744 39,3 8,406 10,529 Nov , , ,346 32,858 8,364 11, , , ,975 32,729 8,293 11, Jan , , ,692 32,712 9,733 11,595 w Average length 1/ 4 y**s. 2 mos. 3 yrs. 8 mos. 3 yrs. 6 mos. 3 yrs. 3 mos. 3 yrs. 1 mos. 2 yrs. 11 mos. 2 yrs. 8 mos. 2 yrs. 7 mos. 2 yrs. 2 yrs. 9 mos. 11 mos. 2 yrs. 5 mos. 2 yrs. 9 mos. 2 yrs. 9 mos. 2 yrs. 9 mos. 2 yrs. 9 mos. 2 yrs. 2 yrs. 11 mos. 10 mos. 2 yrs. 10 mos. 3 yrs. 0 mos. 2 yrs. 11 mos. 2 yrs. 10 mos. 3 yrs. 2 yrs. 0 mos. 11 mos. 2 yrs. 11 mos. Source* Office of Government Financing in the Office of the Secretary. 2/ Beginning with the September 1976 Treasury Bulletin the average length of the interestbearing marketable public debt is computed on that part of the outstanding public debt privately held.

30 22 Treasury Bulletin FUsnieRAT. DEBT Table FD5. Government Account Series (In millions of dollars) End of fiscal year or month Airport and Airway trust fund Exchange Stabilization Fund Federal Deposit Insurance Corporation Federal employees retirement funds Federal disability insurance trust fund Federal Energy Administration Federal Home Loan Banks Federal hospital insurance trust fund Federal oldage and survivors insurance trust fund , ,354 3, ,890 21, , ,931 4, ,583 25, ,784 1, ,644 5, ,980 27, ,598 1, ,6 6, ,834 29, ,735 2, ,894 7,438 * 4,172 31, , , ,201 7,880 7,814 33, ,173 1,936 1,451 1,367 35,525 7,843 9,711 35, ,557 2,529 1,512 2,692 40,383 6,616 1,712 10,892 33,8 T.Q ,640 2,712 1,529 3,429 39,607 6,133 10,959 32, ,113 3,246 2,050 4,829 46,631 3,941 10,924 31, Mar ,433 2,333 1,501 2,352 34,907 6,598 1,704 10,525 32, Feb ,770 3,068 1,993 4,153 39,618 5,013 10,370 30,180 Mar ,192 3,129 1,978 4,171 39,342 4,0 11,216 30,430 Apr ,992 3,176 2,130 4,139 38,997 4,881 11,035 31,271 May ,029 3,235 2,059 4,327 38,702 4,720 11,135 32,963 June ,754 3,377 2,04 8 4,331 39,956 4,728 11,488 31,872 July ,447 3,428 2,022 4,350 39,613 4,394 11,151 30,620 Aug ,329 3,378 2,049 4,325 39,344 4,131 11,145 32, ,113 3,246 2,050 4,329 46,631 3,941 10,924 31,333 Oct ,890 3,288 2,047 4,251 46,241 3,474 10,526 29,086 Nov ,580 3,306 2,026 4,359 45,952 Dec... 3,139 10, ,774 29,037 3,449 2,077 4,436 47,048 3,075 11,130 28, Jan ,364 3,432 2,063 4,509 46,663 2,8 10, Feb ,422 3,542 2,047 4,993 46,399 3,013 10,225 28,621 End of fiscal year or month Federal Supp. Federal Savings and Loan medical ins. trust fund Insurance Corporation Government life insurance fund Highway trust fund National service life insurance fund Postal service fund Railroad retirement accounts Treasury deposit funds Unemployment trust fund Other 1/ ,513 5,754 3,434 9, ,602 5,5 3,751 10, ,635 6,068 3,352 8, ,456 6, ,742 7, ,550 6, ,766 8,330 1, ,599 6, ,706 9,495 2,127 1, ,536 6, , ,557 2,470 1,230 1, ,030 6, , ,203 4,332 1,244 1, ,952 6, , ,345 5,076 2,232 2, , 79 7, , ,603 6, Mar... 1,381 1, ,717 6, , , Feb... 1,957 2, ,207 7,213 1,908 2, ,682 Mar... 2,006 2, ,330 7,190 2,190 2, ,6 Apr... 2,017 2, ,510 7,043 2,259 2, ,231 May... 5,754 2,079 2, ,643 7,039 1,765 1, ,1 6,009 June... 2,207 2, ,4 7,245 1,923 3, ,167 5,3 July... 2,293 2, ,104 7,248 1,761 2, ,087 6,022 Aug... 2,469 2, ,135 7,252 1,663 2, ,450 6,516 Sept... 2,232 2, ,079 7, , ,603 6,533 Oct... 1,925 2, ,029 7,249 2,620 2, ,335 6,581 2,984 2, ,042 7,251 2,636 2, ,878 6,829 Dec... 3,226 2, , ,6 2, ,106 6,724 L978Jan... 3,2 2, ,544 7,438 2,708 2, ,562 6,802 Feb... 3,495 2, ,700 7,429 2,571 2, ,921 7,094 to *3 H Source: Monthly Statement of the Public Debt of the United States. Note: Prior to July 1974 title of this table was "Special Public Debt Issues". 1/ Consists of Government National Mortgage Association fund and MBS Investment account; National Credit Union insurance fund; Federal Housing Administration fund; employees life insurance fund; veterans special life insurance fund; veterans reopened insurance fund; servicemen's group life insurance fund from August 1969January 1973; employees health benefits fund beginning October 1970; Export Inrport Bank of the United States from February 1967October 1968; General Services Administration participation certificates trust; and Washington Metropolitan Area Transit Authority from November 1972March 1973; Indian tribal funds and individual Indian monpy for August 1974: Pension Benefit Guaranty Corporation beginning November 1974; Bonneville Power Administration and Library of Congress trust fund beginning January 1975; Tax Court Judges survivors annuity fund and Overseas Private Investment Corporation beginning February Federal ship financing escrow fishing fund, Federal ship financing fund fishing vessels (NOAA), Federal ship financing revolving fund, gifts and bequests (Commerce), judicial survivors annuity fund, national insurance development fund (HUD), and the U.S. Army general gift fund beginning March 1975, Emergency Loan Guarantee Fund beginning April 1975, Comptroller of the Currency assessment fund, National Archives Trust fund, beginning July 1975, Comptroller of the Currency, trustee fund, beginning August 1975, Federal Financing Bank; National Archives Gift Fund; Public Health Service, Conditional and Unconditional Gift Fund; HEW; U.S. Naval Acadeny Gift Fund; U.S. Naval Academy Museum Fund; War Risk Revolving Fund; Aviation war risk insurance revolving fund; Department of State conditional gift fund, general; Harry S. Truman Jfemorial scholarship fund; Special Investment Account. * Less than $500,000.

31 March FEDERAL DEBT Table FD6. InterestBearing Securities Issued by Government Agencies End of fiscal year or month amount outstanding 1 / Defense Department Family housing and homeowners assistance (In millions of dollars) Housing and Urban Development Department Federal Housing Administration Government National Mortgage Association ExportImport Bank of the United States Other independent agencies Federal Home Loan Bank Board Postal Service Tennessee Valley Authority Other ,249 1, ,600 2, ,510 1, ,320 1, ,163 1, ,005 2, , ,894 1, ,920 1, , ,109 1, ,480 2, , ,012 1, ,370 2, , ,943 1, ,260 2, , ,953 1, ,180 2, ,075 2 T.Q... 11,678 1, ,145 3, , ,298 1, ,768 2, , Mar... 10,961 1, ,200 2, , Jan... 10,945 1, ,845 3, ,825 2 Feb... 10,932 1, ,845 3, ,825 2 Mar... 10,934 1, ,845 3, ,825 2 Apr... 10,883 1, ,803 3^ ,825 2 May... 10,856 1, ,803 3, ,825 2 June... 10,824 1, ,803 3, ,825 2 July... 10,728 1, ,768 3, , ,312 1, ,768 2, ,825 2 Sept ,298 1, ,768 2, ,825 2 Oct... 10,290 1, ,768 2, ,825 2 Nov... 10, ,768 2, ,825 2 Dec... 10, ,743 2, , Jan... 10, ,743 2, ,825 2 End of fiscal year or month Banks for cooperatives 1/ Federal home loan hanks 3 / Memorandum Interestbearing securities of npngovernment agencies 4/ Federal intermediate credit banks 1/ Federal land 'hflnva Federal National Mortgage Association z / y District of Columbia Stadium Fund T.Q Mar. 1,411 1,529 1,790 1,805 2,338 2,475 2, ,901 4,061 3,808 5,524 9,4 7,923 7,848 12,149 18,622 21,250 19,390 19,111 19,206 19,960 4,240 4,942 5,705 6,188 6,673 7,995 9,497 10,298 10, ,557 5,720 6,192 6,652 7,393 9,058 11,067 14,192 16,060 16,566 18^719 15,346 8,076 13,165 14,996 18,560 21,087 25,232 28,237 29,863 30,685 31,4 30, Jan. Feb. Mar. Apr. May.. June, July, Aug., Sept, Oct.. Nov.. Dec., 1978,Jan. 4, ,899 5,254 5,113 4,948 4,604 4,356 4,061 4,052 4,208 4,434 4,625 19,055 18,444 18,483 18,535 18,908 18,977 18,2 19,240 19,206 19,368 19,1 20,389 20,817 10,631 10,556 10,670 10, ,418 11,654 11, ,623 11, , L9,118 19,498 30,394 30,143 30,392 30,684 30,843 31,378 31,566 31,301 31,4 31,572 31,333 31,890 32, Source: Bureau of Government Financial Operations and Monthly Treasury Statement of Receipts and Outlays of the U.S. Government. Note: The ExportImport Bank was moved within the Budget effective October 1, 1976 pursuant to Public Law Adjustments are made to include totals for the period it was outside the Budget (August 17, 1971 through September 30, 1976). Also, adjustments are made to reflect certain ExportImport Bank borrowing transactions now classified as agency debt. These transactions were previously reported as offbudget negative outlays. 1/ Includes unredeemed matured securities outstanding an which interest has ceased. 2/ Effective September 30, 1968, Federal National Mortgage Association was converted to private oumership pursuant to provisions of the Housing and Urban Development Act of 1968 (P.L )..2/ Effective December 31, 1968, banks for cooperatives and Federal intermediate credit banks were converted to private ownership pursuant to provisions of Public Law 90582, October 17, / Far details of securities outstanding, see Table TSO5. j>/ Includes Federal Home Loan Mortgage Corporation mortgage backed bands beginning November / Includes mortgage backed bands beginning June 1970.

32 24 Treasury Bulletin gp.np.rat n p. R T Table FD7. Participation Certificates End of fiscal year or month Sales Agriculture Department Commodity Credit Corporation Retirements Outstanding (In millions of dollars face amounts) Participation certificates issued by GNMA acting as trustee ExportImport Bank of the United States Sales Retirements Dut 3tanding Sales Retirements Outstanding Farmers Home Administration 1/ Sales Retirements Outstanding Health, Education, and Welfare Department 2/ 369 1,814 1, , , ,181 2, ,493 1,280 7, ,226 1,315 6, ,085 4, , , , , , , Mar , Jan , Feb , Mar , Apr , May , June , July , Aug , Sept , Oct , Nov , Dec , Jan , ' ' ' Tlnrl of fiscal year or month Participation certificates issued by GNMA acting as trustee Continued Housing and Urban Development Department Office of Secretary 2/ Sales Sales Retirements Outstanding Retirements Outstanding Government National Mortgage Association Lj Sales tetireoents Outstanding Small Business Administration Veterans Administration 6/ Sales Retirements Outstanding Sales Retirements Outstanding (Memorandum) Commodity Credit Corp. (net certificates of interest authorized under wuar uex Jiuuj jj Retirements Sales Outstanding , , , , , , , , , , , , , , , , , , , , ,115 ' , , , Mar , , Jan , ,146 Feb , ,146 Mar , ,146 Apr ,124 May ,124 June ,124 July Aug , Sept Oct ,105 Nov ,105 Dec r 342 1,105 L978Jan... ' ,105 Source* Bureau of Government Financial Operations. 1/ Includes the Direct Loan program through September 1972, the Agricultural Credit Insurance fund beginning October 1972, and the Rural Housing Loan programs. 2/ Includes Construction of Higher Education Facilities, Health Professions Education fund, and Nurse Training fund, beginning April / Includes College Housing, Housing for the Elderly, and Public Facility programs. U Includes Special Assistance, and Management and Liquidating programs. 5/ Includes programs for Disaster Loans, and Business Loans and Investments. 6/ Includes Direct Loan and Loan Guaranty programs. 7/ In the case of Commodity Credit Corporation, participation certificates are called "certificates of interest" and are not included in the Participation Sales Act of Amounts shown as sales flnd retirements represent the net excess transactions for the period. On July 1, 1969, the amount outstanding was reclassified as agency securities. r Revised.

33 March FEDERAL DEBT. Table FD8. Debt Subject to Statutory Limitation End of fiscal year or month Statutory debt limit (In millions of dollars) Debt outstanding subject to limitation Public debt 1/ Other debt 1/2/ Interestbearing debt subject to limitation Public debt Non?interestbearing debt subject to limitation Public debt 1/ Other debt 1/ T.Q Mar Feb.. Mar.. Apr.. May.. June. July. Aug.. Sept. Oct.. Nov.. Dec.., 1978Jan.., Feb , , , , , , , , , , , , , , , , ,9 686, , , , , , , , , , , , , , , , , , , , , , , , , ,142 4,672 3,962 2,797 2,764 2,392 2,388 1, , , ,756 1, , , , , , , , , , , , , , , , , , , , , , ,474 3,847 3,137 1,972 1,939 1,567 1,563 1, , , ,756 1, , , , Source: Monthly Statement of the Public Debt of the United States. Note: For debt subject to limitation since 1940, see Table 21 of the Statistical Appendix to the Annual Report of the Secretary of the Treasury on the State of the Finances for fiscal For a summary of legislation on debt limitation under the Second Liberty Bond Act and the amounts of limitation, see Table 32 of the Statistical Appendix. 1/ Adjusted to exclude notes to IMF and other international lending organizations from public debt and include them in "Other debt" to conform with the budget presentation and the source for this table. 2/ Consists of guaranteed debt of Government agencies, specified participation certificates, District of Columbia Stadium Bonds and notes of international lending organizations. /

34 26 Treasury Bulletin.FEDERAL DEBT Table FD9. Status and Application of Statutory Limitations The Act of June 30, 1967 (Public Law 9039) provides that the face amount of beneficial interests and participa tions issued under section 302 (c) of the Federal National Mortgage Association Charter Act (12 U.S.C (e)) during the flsoal year 1968 and outstanding at any time shall be added to the amount otherwise taken into account in deter mlning whether the requirements of the above provisions are me^. The Second Liberty Bond Act (31 U.S.C. 757b), as amended, provides that the face amount of obligations issued under suthority of that Act, and the face amount of obligations guaranteed as to principal and interest by the United States, shall not exceed in the aggregate $400 billion outstanding at any one time. Public Law provides that beginning on October 4, 1977, and ending on March 31, 1978, the public debt limit shall be temporarily increased by $352 billion. Part A. Status Under Limitations* February 28, 1978 (In millions of dollars) Public debt subject to limit: Public debt outstanding... $729,753 Less amounts not subject to limit: Treasury Federal Financing Bank (*) public debt subject to limit ,142 Other debt subject to limit: Guaranteed debt of Government agencies... Specified participation certificates ,135 other debt subject to limit... 1,758 debt subject to limit ,900 Statutory debt limit Balance of statutory debt limit ,100 Part B. Application of Statutory Limitations, February 28, 1978 (In millions of dollars) Classifications Amount outstanding Interestbearing debt: Marketable: Bills: Treasury... $161,817 Notes: Treasury ,472 Bonds: Treasury... 50,477 marketable ,766 Nonmarketable: = = = = = Depositary series g Foreign government series: Dollar denominated..., Foreign currency denominated... 1*087 Government account series *422 Investment series... 2*246 R.E.A. series... 5 State and local government series United States individual retirement bonds... * 37 United States retirement plan bonds United States savings bonds ^ 5 United States savings notes.... '393 nonmarketable ,707 interestbearing debt Noninterestbearing debt: 1 Mattered debt Other noninterestbearing debt... 1,279 public debt outstanding Source: Monthly Statement of the Public Debt of the United States. * $500 thousand or less.

35 March 1978 End of fiscal year or month FEDERAL DEBT Table FD10. Treasury Holdings of Securities Issued by Government Agency for International Development 1/ Corporations and Other Agencies Federal Federal Financing Home Loan Bank Bank Board (In millions of dollars) Commodity Credit Corporation Agriculture Department Rural Electrification Administration Secretary: Farmers Home Administration Programs 2/ Export Import Bank of the United States 1/ Housing and Urban Development Department College housing loans Office of the Secretary Urban renewal fund , ,115 5,045 1, , ,262 5,328 1,416 1,586 1, ,... 31, ,977 5,746 1, , , ,501 6,051 1,606 1,743 2, , ,864 6,563 1,610 1,888 2, , ,608 6,963 2,545 2,457 2, , ,466 1,247 5,046 7,409 1, , ,0 22,413 1,534 2,840 7,512 1, , T.Q... 57,374 25,884 1,4 3,556 7,409 1, , ,353 35,418 6,128 7,865 1, , Mar... 52,600 21,706 1,534 2,497 7,409 1, , Feb... 60,407 30,328 4,071 7,609 1, , Mar... 61,742 31,312 4,288 7,609 1, , Apr... 61,808 30,822 4,725 7,609 1, , May... 61,558 31,007 4,223 7,765 1, , June ,123 30,820 4,512 7,765 1, , July... 62,177 32,444 5,017 7,765 1, , ,662 33,800 5,697 7,865 1, , Sept... 66,353 35,418 6,128 7,865 1, , Oct... 68,445 36,722 6,925 7,865 1, , Nov... 70,169 37,095 8,181 7,888 1, , Dec... 72,134 38,580 8,507 7,903 1, ? Jan... Feb... 74,581 39,522 9,947 7,925 1, , ,070 40,606 10,092 7,951 1, , Other U 27 End of fiscal year or month Housing,and Urban Development DepartmentContinued Government National Mortgage Assn. J/ Other 6/ Interior Department Helium fund Rural Telephone Bank Tennessee Valley Authority Transportation Dept. Saint Lawrence Seaway Development Corp. Veterans Administration: Direct loan program Under Defense Production Act of / , ,730 2, , ,730 1, , ,730 2, , ,730 2, ,053 1, ,730 2, ,133 2, ,730 2, ,413 3, ,730 2/ ,124 4, ,730 2/ 98 T.Q... 5,907 4, ,730 2/ ,908 3, ,730 2/ Mar... 6,999 4, , Feb... 5,181 4, , ,200 5, , ,198 5, , May... 5,214 5, , June... 5,078 3, , July... 4,948 3, , ,903 3, , Sept... 4,908 3, , Oct... 4,898 3, , Nov.... 4,928 3, , ,931 3, , Jan... 4,960 3, , Feb... 4,950 3, , Other 8/

36 28 FEDERAL DEBT. Treasury Bulletin Footnotes to Table FD10. Source: Bureau of Government Financial Operations. Note: These securities were issued to the Treasury in exchange for advances by the Treasury from public debt receipts under congressional authorizations for specified Government corporations and other agencies to borrow from the Treasury. Further detail may be found in the 1976 Statistical Appendix to Annual Report of the Secretary of the Treasury, pages , and the 1976 Combined Statement of Receipts, Expenditures and Balances of the United States Government, pages / And predecessor agencies. Beginning fiscal 1957 figures exclude notes previously issued by the Administrator in connection with informational media guaranties. The obligation for these notes was assumed by the Director of the United States Information Agency, pursuant to the act approved July 18, 1956 (22 U.S.C. 1442), and the notes together with others issued for the same purpose are included in "Other." 2/ Farm housing and other loan programs, Agricultural Credit Insurance Fund (formerly Farm Tenant Mortgage Insurance Fund), Rural Housing Insurance Fund, and Rural Development Insurance Fund. 2/ Includes securities transferred from the Reconstruction Finance Corporation. l j Consists of notes issued to borrow for: public facility loans; Low Rent Public Housing Fund; and advances for National Flood Insurance Fund. j>/ Consists of liabilities taken over by the Association from the Secretary in accordance with the act approved August 2, 1954, and notes issued by the Association tinder authority of that act (12 U.S. C (c), 1720 (d), and 1721(d)) and also securities transferred from the Reconstruction Finance Corporation. 6/ Public Housing Administration ; Federal Housing Administration beginning January 1966; Housing Assistance Administratior from September 1968December / Consists of notes of: The Administrator, General Services Administration, for defense materials procurement; the Secretary of Agriculture; the Secretary of the Interior (Defense Minerals Exploration Administration); and the Secretary of the Treasury through May / Consists of notes issued by the: United States Information Agency for informational media guaranties (see footnote 1); Secretary of Commerce (Maritime Administration) for the Federal Ship Mortgage Insurance Fund, fiscal years and Federal Ship Financing Fund (NQAA), beginning December 1972; Virgin Islands Corporation from September 1959September 1968; District of Columbia Commissioners for the Stadium Sinking Fund beginning December 1971; Secretary of the Interior (Bureau of Mines) for development and operation of helium properties beginning May 1964; Bureau of Commercial Fisheries for Federal Ship Mortgage Insurance Fund, Fishing Vessels from January 1966 May 1967; and revenue bonds for Smithsonian Institution (John F. Kennedy Center Parking Facilities) beginning July 1968; Secretary of Transportation (Washington Metropolitan Area Transit Authority) beginning December 1972; Health, Education, and Welfare, Office of Education (Student Loan Insurance Fund) from May 1973 August 1973; Pension Benefit Guaranty Corporation from September 19 74: Federal Railroad Administration, rail service assistance, beginning January 1976, and regional rail reorganization, April, 1976; Bonneville Power Administration beginning September 30, 1977; Department of Energy beginning October, 1977; General Services Administration (Pennsylvania Avenue Corporation) beginning November, / Outstanding loans cancelled pursuant to Public Law 93426, dated September 30, 1974.

37 March 1978 I2Zg Mar. Apr. Apr. Apr. May May May June July Aug. Aug. Aug. Sept. Oct. Oct. Nov. Nov. Dec. Dec Jan. Feb. Feb. Mar. Apr. Apr. May May June June July Aug Aug*. Aug. Sept. Sept. Oct. Oct. Nov. Nov. Nov. Nov. Dec, Dec Jan. Feb. i?eb Feb. Mar. Apr. May June Aug. Aug. Sept. Oct. Nov. Nov. Dec Feb. Feb. Mar. Apr. May May June Aug. Aug. Sept. Oct. Nov. Nov. Dec. Date of final maturity , , 15., 30., 31., 31., , , 31., 31., , 31., 1., 15., 15., PUBLIC DEBT OPERATIONS. Table PDO1. Maturity Schedule of InterestBearing Marketable Public Debt Securities Other than Regular Weekly and 52Week Treasury Bills Outstanding, February 28, 1978 Description 63/4$k Note 11/2#EA Note 6.272% Bill 61/2#L Note 7l/8#D Note 77/S%F Note 7l/8#M Note 67/8$lN Note 67/8%P Note 8 3/4#C Note 75/8#E Note 65/8#Q Note 6l/4#R Note 11/2#E0 Note 57/8#S 6#B 53/4fT 8l/8#H 51/4%U..., Note Note Note Note Note 57/8#L Note 7#H Note 57/8%M Note 6#N Note 11/2%EA Note 57/8#P Note 77/8#D Note 61/8#Q Note 73/4%E Note 6l/8#R Note 6l/4#S Note 6l/4#A Note 67/8#J Note 65/8#T Note 8l/2#F Note 65/8%U Note ll/2#e0 Note 71/4%V Note 65/8#B Note 7%G Note 6l/4#K Note 7l/8#W Note 7l/2#G Note 7l/8#X Note... 7l/2#K 4# 6l/2#G 75/8#L 71/2#C ll/2#ea 67/8%A 75/8#D 9#B 63/4#H 6m 7/8#E ll/2#e0 31/2# 7l/8#J 57/8#F... 7#A 73/7#C 67/8#H ll/2#ea 73/8#D 7l/2#M 6^3/8#J 7% 75/8#F 63/4#K ll/2#e0 73/4#B 7#G 7 1 /4#L. Issue Date 3/31/76 4A/73 12/2/77 5/17/76 2/18/75 8/15/75 6/1/76 6/30/76 7/30/76 5A5/74 5/15/75 8/31/76 9/30/76 10A/73 lla /76 ll/l5/71 11/30/76 10/22/75 12/31/76 2/3/77 2/17/76 2/28/77 3/31/77 4A/74 5/2/77 11/6/74 5/31/77 7/9/75 6/30/77 8/1/77 8A5/72 8A 6/76 8/31/77 9/4/75 9/30/77 10A/74 lo/yi/77 2A5/73 11A5/73 11A 5/76 11/30/77 1/6/76 1/3/78 Note 1/31/78 Bond 1/23/59 No±e 2/15/77 Note 2/28/78 Note 3/17/76 Note 4/1/75 Note Note 5A5/73 6/10/76 Note 8/15/74 Note 8/15/77 Note 9/14/76 Note 10/1/75 Bond 10/3/60 Note 11/15/77 Note 12/7/76 Note 2/15/74 Note 2/18/75 Note 3/8/77 Note 4/1/76 Note 1/26/76 Note 2/15/78 Note 6/3/77 Bond 8A5/71 Note 7/9/76 Note Note 9/7/77 10/1/76 Note Note 11/15/74 10/12/76 Note 12/7/77 (In millions of dollars) Amount of maturities 3, ,004 2,571* 3,960 4,423 2,567 3,331 2,885 2,462 5,155 2,949 3, ,921 8,207 2,941 2,517 3,376 59,617 2,855 4,692 2,845 3, ,992 2,269 2,087 1,782 2,308 3,180 4,559 2,989 3,481 2,081 3, ,334 1,604 2,241 3,376 4,7 2,006 3,920 66,775 3,875 2,497 4,608 3,800 2, ,265 2,185 4,296 4,133 2, ,754 4,600 2,692.5,920 1,842 4,796 2,809 * 2,020 3,893 2, ,586 2, ,477 2,543 3,452 34,721 U.S. Govt, accounts and Federal Reserve banks 312 n.a , , , ,923 1, , , , , , , , , , rl/ Source: Monthxy Statement of ihe Public Debt of the Unit d S,atei uid Office of Government Financing in the Office of Ui<~ LecreUtry. 1/ Beginning with February 1969 Treasury Bulletin, the definition of U.S. Government accounts and all other investors is in conformity with the unified budget concept. All other investors 2, n.a. 2,178 3,002 2,883 2,392 2,546 2,590 1,825 2,584 2,776 2, ,721 4,610 2,687 2,340 2,925 43,690 2,767 2,968' 2,519 2, ,874 1,731 1,878 1,663 2,043 3,064 2,771 2,151 3,255 1,859 3, , ,794 3,134 4,501 1,894 3,571 56,533 3,603 1,568 3,156 3,747 1, ,702 1,8 1,614 3,573 2, ,135 3,7 2,654 32,467 1,277 3,856 2,735 * 1,840 2,893 2, ,328 2, ,617 2,453 3,426 29,205 Date of final maturity 1982 Feb. Feb. Apr. May May Aug. Oct. Nov. Nov Feb. June Nov Feb. Aug. Aug * , May 15. Aug. 15. Nov. 15. Aug. 15,879 Aug Description 63/8# Bond 61/8#D Note ll/2#ea Note 8#A Note 7#E Note 8l/8#B Note 11/2#E0 Note 77/8#C Note 7l/8#F Note. 71/4#A Note 63/8# Bond 7l/4#B Note Feb ;; 8 A Note 2A5/7S May /2# Bond 6/3/58 May 15, /4# Bond 4/5/60 77/8#A Note 8#B Note 61/8# Bond 1987 Nov. 75/8#A Note 11/15/ Feb. May /2# 81/4# 1993 Feb. 15, Feb Feb, Aug. 15, May 15,899^ 1995 Feb May 15,939* Nov /4# 71/4# May 15,949*; 81/2# Bond Bond Bond Bond Feb. 15,95OC 77/8# Bond Aug. 15,95OC 83/8# Bond 2001 Sug. 15,960: 2005 May 15,0005 4# 6 3/4# 77/8# 71/2#.., 41/8# 3# 7# 31/2# 2007 Feb. 15,020 75/8# Nov. 15,020' 77/8# Bond Bond Bond Bond Bond Bond 81/4# Bond. Bond Bond Issue Date 5/15/72 1/6/77 4/1/77 5/15/75 4/4/77 8/15/75 10/1/77 11A7/75 10/17/77 8#A 31/4# Note Bond 2A7/76 7#B Note ll/fi/ A5/77 8/15/72 8/15/77 5A7/76 8/16/76 11/15/71 2/14/58 4/7/75 5/15/62 7/8/77 1/17/63 1/10/73 1/6/78 8/15/73 4/18/63 2/15/55 5A7/76 10/3/60 5/17/74 2/18/75 8/15/75 8/16/76 5/15/75 2/15/77 11/15/77 Amount of maturities 29 2,702 1,055 1,647 2, , ,747 1,447 1,300 2, ,594 2,8 1,117 1, , ,172 2, ,717 19,318 4,423 14,895 7,958 1,251 2,309 11,518 8,438 2,353 2,863 13,654 CL ,048 i,004 5,219 9,515 1,216 15,950 2,387 2,850 1,247 4,097 2,897 1,504 4, ,501 1,4 4,226 1, ,027 2,719 2,414 2,771 2,265 5,036 1,575 4,245 4,249 1, Held by 1/ U.S. Govt, accounts and Federal Reserve banks 2, ,428 3, ,400 1/ ,774 1,941 3, ,250 1, , ,317 1, , ,011 1,562^ 775 2,100 1, ,799 All other investors 5,852 1,024 2,214 9,090 4, ,526 8,254 2,997 ^ ,230 4,337 7, ,243 1,8 1, ,847 1,769 1,428 3, , , ,313 1,677 2,220 1,254 3, ,145 2,705 1,240 Z/ 'T v ^ u J.1y waxes 73/8# beries 'I98I and 73/8%»enes h1981 were +«'' separate issues consolidated effective Sept. 1, l9yb. Series il1981 notes were issued on April 5, 1976 but are treated as if they were an additional issue of Series C1981. * Less than $500,000. a» No+ Available. 3,94^

38 30 PUBLIC DEBT OPERATIONS. Treasury Bulletin Table PDO2. Offerings of Bills Issuer date Regular weekly: (13week and 26week) 1977Nov Maturity date Number of days to maturity 3/ (Amounts in millions of dollars) Description of new issue Amount of bids tendered Amount Amount of bids accepted On competitive basis 2/ On noncompetitive basis y Amount maturing on issue date of new offering unmatured issues outstanding after new issues 1978 f Feb. 2 3, , , , ,266.0 ( May 4 5, , , , ,348.8 / Feb. 9 4, , ,939.3 * , ,168.0 { May 1 1 6, , , , ,451.2 / Feb. 16 4, , , , ,062.9 { May 18 6, , , , ,551.7 / Feb , , , , ,061.8 \ May 25 86,853.4r 6, , , , ,853. f Mar. 2 4, , , , , June 1 87,252.6r 7, , , , ,252. f Mar. 9 4, , , , ,058.8 ( June 8 87,653,2 7, , , , ,653. f Mar , , , , ,853.5 { June 15 '88,056.4r 5, , , , , Mar. 23 4, , , , ,548.9 \ June 22 5, , , , ,358.5 f Mar. 30 4, , , , ,451.8 \ June 29 7, , , , , Jan. 5 f Apr. 6 4, , , , ,355.0 ( July 6 3,249,7 6, ,641.8r , , / Apr. 13 4, , , , ,353.7 ( July 13 5, , , , , / Apr. 20 4, , , , ,354.2 \ July 20 5, , , , , / Apr. 27 4, , , , ,356.2 ( July 27 5, , , , ,644.1 Feb f May 4 4, , , , ,458.9 \ Aug. 3 6, , , , , f May 11 4, , , , ,462.4 V Aug. 10 6, , , , , f May 18 4, , , ,0 2, ,582.8 V Aug. 17 6, , , , , f May 25 4, , , , ,692.7 V. Aug. 24 6, , , , , Week: 19^Feb Feb , , , , ,125.2 Mar Mar ,264,8 3, , , ,228.5 Apr Apr , , , , ,368.3 May 3... May , , , , ,998.9 May May 30 39, , , , ,921*4 39,998.9 June June , , , , ,173.2 July July , , , , ,309.2 Aug Aug. 2^ 364 6, , , , ,361.3 Sept Sept , , , ,7.3 39,479.9 Oct Oct , , , , ,546.0 Nov Nov , , , ,907.0 t j 39,731.4 Dec Dec , , , , ,064*8 1978Jan Jan , , , , ,198.9 Feb Feb , , , , , tl Footnotes at end of table. 1978Apr , , , ,004.0

39 March 1978 PTTRT.Tf! d e b t o p e r a t io n s 31 Table PDO2. Offerings of Bills Continued On total bids accepted On competitive bids accepted High Low Average price Equivalent average per hundred rate 5/ Price per hundred Equivalent rate 5/ Price per hundred Equivalent rate 5/ Regular weekly: (13week and 26week') 1977Nov Jan. 52Week: 1977Feb. Mar. Apr. May June Aug. Sept. Oct. Nov. Dec. 1978Jan. Feb. Special 1977Dec , e , July Footnotes on following page. (Percent) (Percent) (Percent) f / { / f / { / / ( / / { / ( / / < / / { / / / { / / / / \ lg/ / { / \ / i/ J { / / { / / i ( I / [ / I f * V / 6.7* / / , * / / / / / /

40 32.PUBLIC DEBT OPERATIONS Treasury Bulletin Footnotes to Table PDO2. Source: Monthly Statement of the Public Debt of the United States and 16/ Except $900,000 at and $50,000 at Allotments. 17/ Except $1',680,000 at and $510,000 at / The 13week bills represent additional issues of bills with an 18/ Except $1,170,000 at original maturity of 26 weeks. 19/ Except $10,000 at / For bills issued on or after May 2, 1974, includes amounts exchanged 20/ Except $100,000 at and $1,645,000 at on a noncompetitive basis by Government accounts and Federal Reserve 21/ Except $100,000 at banks. 22/ Except $750,000 at , $100,000 at , and $50,000 at / For 13week bills, 26week tenders for $500,000 or less from any one 23/ Except $500,000 at bidder are accepted in full at average prices of accepted competitive 24/ Except $545,000 at and $300,000 at bids; for other issues, the corresponding amount is stipulated in 25/ Except $3,820,000 at each offering announcement. 26/ Except $1,000,000 at and $25,000 at Includes maturing shortdated bills issued Nov. 7, / Except $3,285,000 at , $1,000,000 at , and $2,000,000 at Bank discount basis. 28/ Except $35,000 at Except $250,000 at , $600,000 at , and $200,000 at / Except $500,000 at Except $500,000 at / Except $75,000 at Except $115,000 at / Except $350,000 at Except $150,000 at / Except $325,000 at Except $10,000 at / Except $5,000,000 at and $930,000 at Except $150,000 at / Except $2,000,000 at Except $300,000 at r Revised Except $500,000 at Except $30,000 at Except $50,000 at

41 March 1978.PUBLIC DEBT OPERATIONS. 33 Table PDO3. New Money Financing through Regular Weekly Treasury B illsi/ (Dollar amounts in millions) Description of issue Issue date Maturity date Number of days to maturity Amount of bids tendered Amount of bids accepted Average rate of bids accepted 2/ (Percent) New money increase, or decrease () 1973Jan. May July Aug. Nov. 1974May Aug July Sept , 13., 20., 27., 5., 11., 18., , , Apr. July Apr. July Apr. July Apr. July 1973Aug. Nov. Aug. Nov. Aug. Nov. 1973Sept. Dec. Sept. Dec. Sept. Dec. Oct. 1974Jan. 1973Oct. 1974Jan. 1973Oct. 1974Jan. 1973Oct. 1974Jan. 1973Nov. 1974Jan. Feb. May Aug. Nov. Aug. Nov. Aug. Nov. Sept. Dec. Sept. Dec. Sept. Dec. Sept. Dec. Oct. 1975Jan. 1974Oct. 1975Jan. 1974Oct. 1975Jan. 1974Oct. 1975Jan. 1974Oct. 1975Jan. 1974Nov. 1975Feb. 1974Nov. 1975Feb. 1974Nov. 1975Feb. 1974Nov. 1975Feb. 1974Dec. 1975Mar. 1974Dec. 1975Mar. 1974Dec. V. 1975Mar $3,639 3,249 3,752 3,582 3,512 3,675 3,962 3,953 3,789 3,552 3, ,452 3,564 3, ,165 3,774 4,022 3,776 3,349 3,545 3, , ,887 3,561 3,796 3,386 4,047 4,341 3,670 3,227 3,475 2,756 3,723 3,474 3,578 3,383 3,693 3,792 5,054 4,261 3,925 3,017 4,117 3,171 4, ,207 3,268 4,466 3,719 3,955 2,885 3,618 4, ,651 3,981 2,986 3,721 3,481 3,746 3,853 4,607 3,072 4,038 3,241 $2, , , ,400 1, , , ,801 2, , ,601 2/ ,600 2/ / ,602 2/ ,602 2/ ,602 2/ ,601 2/ ,656 2/ 2, / ,807 2/ 2,002 2, ,802 2,500 1, , $ Footnotes at end of table.

42 .PUBLIC DEBT OPERATIONS. Treas PDO3. New Money Financing through Regular Weekly Treasury Bills VContinue ription of issue Maturity date Number of days to maturity (Dollar amounts in millions) Mount of bids tendered Amount of bids accepted Average rate of bids accepted 2/ (Percent) 1975Jan. 9 3,132 2, Apr. 10 3,301 2, Jan. 16 4,169 2,703 Apr. 17 2,958 2, Jan. Apr ,747 3,249 2,703 2, Jan. May ,369 3,459 2,705 1, Feb. May 6 8 3,412 3,307 2,704 2, Feb. May ,497 3,856 2,802 2, Feb. May ,877 3,690 2,800 2, Feb ,110 2, May ,342 2, Mar. June 6 5 3,393 3,819 2,804 2, Mar. June ,474 3,814 2,802 2, Apr. July 3 3 3,755 3,705 2,705 2, Apr. 10 4,442 2, July 10 4,416 2, Apr. July ,724 4,5 2,603 2, Apr. 24 4,088 2, July 24 3,582 2, May 1 July 31 4,085 4,1 2,600 2, May 8 4,244 2, Aug. 7 5,044 2, May 15 4,107 2, Aug. 14 3,743 2, May 22 4,096 2, Aug. 21 4,653 2, May Aug ,468 3,822 2,702 2, June 5 3,797 2, Sept. 4 4,768 2, June 12 4,511 2,602 Sept. 11 5,523 2, June 19 4,303 2, Sept. 18 4,533 2, June Sept ,014 3,599 2,502 2, July Oct ,598 4,331 2,703 2, July Oct ,045 4,361 2,701 2, July Oct ,881 4,729 2,704 2, July Oct ,094 4,066 2,702 2, July Oct ,423 5,479 2,701 2, Aug. Nov ,412 4,831 2,802 2, Aug. Nov ,426 4,831 2,805 2, Aug. Nov ,503 5,542 2,803 2, Aug. Nov ,057 4,820 2,802 2,

43 March 1978 PUBLIC DEBT OPERATIONS 35 Table PDO3'. New Money Financing through Regular Weekly Treasury Bills 1/ Continued (Dollar amounts in millions) Description of issue Issue date Maturity date Number of days to maturity Amount of bids tendered Amount of bids accepted Average rate of bids accepted 2/ (Percent) New money increase, or decrease () 1975 June July Aug. Sept. Oct. 1976Jan , Sept. Dec. Sept. Dec. Oct. 1976Jan. j1975oct. 1976Jan. *5.975Oct. 1976Jan. 1975Oct. 1976Jan. 1975Oct. 3976Jan. [1975Nov. Il976Feb. I 1975Nov. Il976Feb. [1975Nov. i1976feb. '1975Nov. I1976Feb. 1975Dec. 1976Mar. I1975Dec. i1976mar. 1975Dec. 1976Mar. *1975Dec. 1976Mar. Jan. Apr. Jan. Apr. Jan. Apr. Jan. Apr. Jan. Apr. Feb. May Feb. May Feb. May Feb. May Mar. June Mar. June Mar. June Mar. June Apr. July Apr. July Apr. July Apr. July Apr. July $5,616 3,898 4,578 4,258 3,811 3,608 4, ,453 6, ,550 5,136 5,262 5, ,306* 5,671 4,735 5,8 4,448 6,246 5,368 6,876 4,748 6,245 5,068 4,469 4,608 5, ,762 3,684 5,341 4,125 4,609 4,860 5,072 4,635 4,853 4,992 5,067 5,322 5,270 5,669 5,492 6, ,349 5,202 4,351 6,152 4,451 4,767 3,998 4,606 4,957 5,942 5,084 6,539 5,783 5,457 4,588 5,488 4,774 5,844 $2, ,606 2, ,701 2, ,806 2,905 2, , ,002 3,002 3, , ,202 3, ,903 3,202 2,736 2, ,805 3, ,190 3,000 3,103 3, , ,304 3, ,231 3, , ,099 2,709 3,107 2,901 3,301 3, ,992 3,403 3,001 3, TL Footnotes at end of table. $ , , * r

44 36.PUBLIC DEBT OPERATIONS Treasury Bulletin Table PDO3. New Money Financing through Regular Weekly Treasury Billsl/Continued (Dollar amounts in millions) Description of issue Issue date Maturity date Number of dajas to maturity Amount of bids tendered Amount of bids accepted Average rate of bids accepted 2/ (Percent) New money increase, or decrease () 1Q76Feb. 5., 13., 26., Apr. 22., 29., May , June July Apr. 28., May 5., June July Sept , Nov. 25 ^ Dec. 1., 8. f 276May Aug. May Aug. May Aug. July Oct. July Oct. Aug. Nov. Aug. Nov. Aug. Nov. Aug. Nov. Sept. Dec. Sept. Dec. Sept. Dec. Sept. Dec. Sept. Dec. Oct. [1977Jan. 1976Oct. 1977Jan. July Oct. Aug. Nov. Aug. Nov. Aug. Nov. Aug. Nov. Sept. Dec. Sept. Dec. Sept. Dec. Sept. Dec. Sept. Dec. Oct. 1978Jan. 1977Oct. 1978Jan. { 1977Oct. 1978Jan. '1977Dec. 1978Mar. '1977Dec. 1978Mar. Feb. May Mar. June Mar. June $4,505 6,558 4,709 6,212 4,700 5,121 5,504 5,370 5,572 6,033 5,557 7,702 5,739 6,519 4,624 6,508 4,955 7,382 3,5 6,567 5,514 7*017 4,360 5,364 4,376 5,523 4,163 5,222 4,251 7,809 7,134 6,198 5,032 5,845 4,375 6,054 4,449 6,065 4,636 6,288 4,033 6,505 4,056 5,487 4,016 6,337 4,060 5,206 3,751 4,987 4,194 6,347 3, ,379 5,821 4,221 6,627 4, Ob; 6,015 5,678 5, ,061 4,535 7,041 4,435 7,124 $3,109 3,804 3,102 3,902 2,90: 3,731 2,506 3,404 2, , , ,500 3, ,309 3, ,202 2, ,302 3, , , ,307 2,204 3, ,203 2,099 3,201. 2,004 3,102 2,007 3,C02 2,003 3,001 2,000 3,001 2,104 3,201 2,303 3,305 2,203 3, ,408 2,515 3,377 2, ,302 3,501 2,204 3, $ ) r

45 March Issue date.public DEBT OPERATIONS. Table PDO3. New Money Financing through Regular Weekly Treasury Billsl/ Continued Description of issue Maturity date Number of days to maturity {b u llc U ail ouxi t Tll OXisJ Amount of bids tendered Amount of bids accepted Average rate of bids accepted 2/ (Percent) New money increase, or decrease () 1977Dec f 1978Mar. 16 $5,024 $2,310 6,073 "A $197 \ June *5 5,928 3,404 6,371 / r Mar. 30 4,378 2,105 6,121 \ ( June 29 7,193 3,386 6,460 J j 1978Feb May 18 4,514 2,323 6,453 \ ( Aug. 17 6,265 3,508 6,745 J 226 Feb f May 25 Aug. 24 4,676 6,340 2,412 3,500 6,460 ) 6,755 J 207 Source See Table PDO2. 1/ Excludes issues of strips of additional amounts of outstanding regular weekly bills for cash on June 5, 1974 ($801 million). 2/ Equivalent average rate on bank discount basis. 2/ On June 11, 1974, the Treasury announced that the amount of bills offered would be $200 million more than the amount maturing. It stated that a foreign central bank would bid for $200 million of the bills in order to achieve a better balance between its holdings of special Treasury issues and marketable Treasury issues.

46 38 PUBLIC DEBT OPERATIONS Treasury Bulletin Date subscription books closed or tenders received Table PDO4. Offerings of Public Marketable Securities Other than Regular Weekly Treasury Bills Issue date Description of securities l/ (Dollar amounts in millions) Period to final maturity (years, months, days) 2/ Amount of subscriptions tendered Cash Exchange Amount issued ^/ For cash In exchange U 6/20/74 7/2/ # Bill 7/1/75 364d 2,654 1,802 7/23/74 7/30/ $ Bill 3/31/75 FFB 244d 4,321 1,501 7/24/74 7/30/ $ Bill 7/29/75 364d 2,573 1,806 8/1/74 8/7/ $ Bill 9/20/74 Tax ant. 5/ ^4d 4,319 1,526 8/6/74 8/15/74 9$ Note 5/15/77D 2y 9m 4,441 2,936 2,393 2,93^ V 8/7/74 8/15/74 9$ Note 8A5/80B 6y 3,788 2,461 1,835 2,461)^ 12/ 8/8/74 8/15/74 81/2$ Bond 5/15/9499 Reopening 24y 9m 1, / 8/21/74 8/27/ $ Bill 8/26/75 364d 2,935 1,803 8/28/74 9/4/ $ Bill 6/30/75 299d 4,934 2,003 9/18/74 9/24/ $ Bill 9/23/75 364d 2,980 1,803 9/24/74 9/30/74 81/4$ Note 9/30/76J 2y 3, , / 12/ 7/ 10/1/74 11/2$ Note 10/1/79E0 5y /16/74 10/22/ $ Bill 10/21/75 364d 3,580 2,003 10/23/74 11/6/74 77/8$ Note 5/15/79D 4y 6m 2,274 1,016 U / 10/29/74 11/4/ $ Bill 6/19/75 227d 3,860 1,501 11/6/74 11/15/74 73/4$ Note ll/15/77e 3y 4,403 1,059 2,570 1,059) 16/ 11/7/74 11/15/74 73/4$ Note ll/15/81b 7y 3, , M/ 1Z/ 11/8/74 11/15/74 81/2$ Bond 5/15/9499 Reopening 24y 6m 1, [ w 11A3/74 11A9/ $ Bill 11A8/75 364d 3,802 2,002 11/20/74 12/3/ $ Bill 4/16/75 Tax ant. 134d 4,904 2,251 11/21/74 12/4/ $ Bill "Strip " of 5 Series (Average) 22d 1,671 1,001 U / 26/74 12/5/ $ Bill 6/17/75 Tax ant. 194d 2,481 1,256 12/11/74 12A7/ $ Bill 12A6/75 364d 3,749 2,001 12/23/74 12/31/74 71/4$ Note 12/31/76K 2y 2, , / 21/ 12/30/74 1/7/75 77/8$ Note 5/15/79DReopening 4y 4m 1,760 1,253 22/ 1/2/7 1/9/75 8$ Note 3/31/76 HReopening ly 3m 1, / 1/8/75 1/14/ $ Bill 1/13/76 364d 3,355 2,001 1/28/75 2/18/75 71/8$ Note 5/15/78D 3y 3m 6, , / 1/29/75 2/18/75 73/8$ Note 2/15/81C 6y 4, , )24/ 6/ 1/30/75 2/18/75 77/8$ Bond 2/15/ y 2, / 22/ 2/5/75 2/11/ $ Bill 2/10/76 364d 3,354 2,103 2/19/75 3/3/75 [57/8% Note 8/31/76L ly 6m 2,967 1,662 22/ \6$ Note 2/28/77F 2y 3,189 1,665 22/ 3/5/75 3/11/ $ Bill 3/9/76 364d 4,272 2,102 3/11/75 3/19/75 73/4$ Note 11/15/81BReopening 6y 8m 3,438 1,762 20/ 3/13/75 3/25/75 6$ Note 5/31/76M ly 2m 2,993 1,580 21/ 3/18/75 3/31/75 61/2$ Note 3/31/77G 2y 2,961 2,576 22/ 3/20/75 4/7/75 81/4$ Bond 5/15/90 15y lm 2,898 1,247 22/ 4/1/75 4/8/75 71/8$ Note 11/30/76N ly 8m 3,796 1,507 2k/ 1/ 4/1/75 11/*!% Note 4/V80EA 5y 2 2 4/2/75 4/8/ $ Bill 4/6/76 364d J,135 2,205 A/8/75 4/14/ $ Bill 1/31/76 292d 3,681 1,586 4/15/75 4/30/75 73/8$ Note 4/30/77H 2y 4,158 1,579 21/ 4/30/75 5/6/ $ Bill 5/4/76 364d 4,427 2,435 5/6/75 5/15/75 75/8$ Note 8/15/78E 3y 3m 5,390 2,300 2,855 2,300^ 22/ 5/7/75 5/15/75 8$ Note 5/15/82A 7y 3,865 1,233 1,514 ^ / 2 / 5/8/75 5/15/75 81/4$ Bond 5/15/0005 3Qy 1,848 * (y 22/ 5/14/75 5/27/75 63/4$ Note 5/31/771 2y 3,572 2,137 40/ 5/22/75 6/6/75 61/2$ Note 10/31/760 ly 5m 2,666 1,579 41/ 5/28/75 6/3/ $ Bill 6/1/76 364d 3,851 2,404 6/17/75 6/30/75 61/2$ Note 6/30/77J 2y 2,775 2,170 42/ 6/24/75 7/1/ $ Bill 6/29/76 364d 3,321 2,5 6/25/75 7/9/75 73/4$ Note 6/30/79E 4y 5,384 1,782 M / 7/17/75 7/31/75 71/2$ Note 7/31/77K 2y 5,3 1,516 M / 7/24/75 7/29/ $ Bill 7/27/76 364d 4,5 2,293 7/29/75 8/15/75 77/8$ Note 5/15/78F 2y 9m 5,657 1,372 3,051 1, / 7/30/75 8/15/75 81/8$ Note 8/15/82B 7y 3, , W 47/ 7/31/75 8/15/75 83/8$ Bond 8/15/ y 1, Z.8/ 8/7/75 8/8/ $ Bill 8/26/75 Reopening 18d 6,669 1,000 8/14/75 8/29/75 81/4$ Note 8/31/77L 2y 4,956 2,021 49/ 8/20/75 8/26/ $ Bill 8/24/76 364d 7,121 2,893 8/21/75 9/4/75 81/2$ Note 9/30/79F 4y lm 4,362 2,081 9/4/75 9/5/ $ Bill 9/18/75 Reopening 13d 3, /4/75 9/5/ $ Bill 9/25/75 Reopening 20d 3, /16/75 9/30/75' 83/8$ Note 9/30/77M 2y 6, by , J9*! 33 il/ 12/ 9/17/75 9/23/ $ Bill 9/21/76 364d 6,133 2,858 9/24/75 10/7/75 8$ Note 2/28/78G 2y 5m 3,972 2,115 52/ 2/ 10/1/75 11/2$ Note 10/1/80E0 5y /7/75 10/22/75 81/8$ Note 12/31/78H 3y 2m 3,331 2,517 1A/ 10/15/75 10/21/ $ Bill 10/19/76 364d 3,858 3,062 10/16/75 10/31/75 71/2$ Note 10/31/77N 2y 4,719 3,156 11/ 10/29/75 11/17/75 77/8$ Note 11/15/82C 7y 4, ,517 Z ti 10/30/75 11/17/75 83/8$ Bond 8/15/952000Reopening 24y 9m 2, , j^ W Footnotes at end of table. Allotment ratio

47 March PUBLIC DEBT OPERATIONS. Table PDO4. Offerings of Public Marketable Securities Other than Regular Weekly Treasury Bills Continued (Dollar amounts m millions) Issue date Description of securities 1/ Period to final maturity (years, months, days) 2/ Amount of subscnptions tendered Exchange Amount issued 2/ For cash In exchange U Date subscription books closed or tenders received Allotment ratio 11/13/75 12/2/75 12/5/75 12/5/75 12/10/75 12/16/75 12/22/75 1/7/76 1/13/76 1/14/76 2/3/76 2/4/76 2/5/76 2/5/76 2/20/76 3/3/76 3/5/76 3/13/76, 7/ 3/24/76 3/29/76 4/29/76 5/4/76 5/5/76 5/7/76 5/19/76 5/26/76 6/7/76 6/3/76 6/23/76 6/21/76 6/29/76 7/21/76 7/20/76 8/3/76 8/4/76 8/6/76 8/18/76 8/19/76 8/31/76 7/ 9/15/76 9/21/76 7/ 9/28/76 10/13/76 10/21/76 11/3/76 11/4/76 11/5/76 11/9/76 11/18/76 11/30/76 12/7/76 12/8/76 12/20/76 12/28/76 1/05/77 1/19/77 2/01/77 2/02/77 2/03/77 2/04/77 2/17/77 2/23/77 3/2/77 3/22/77 3/29/77 3/30/77 1/ 4/1/77 4/19/77 4/2.7/77 5/3/77 5/4/77 5/18/77 5/24/77 5/25/77 11/18/75 12/5/75 12/8/75 12/8/75 12/16/75 12/31/75 1/6/76 1/13/76 1/26/76 2/2/76 2/17/76 2/10/76 2/17/76 2/17/76 3/3/76 3/9/76 3/17/76 3/31/76 4/1/76 4/5/76 4/6/76 5/4/76 5/17/76 5/17/76 5/17/76 6/1/76 6/1/76 6/8/76 6/10/76 6/2Q/76 6/30/76 7/9/76 7/27/76 7/30/76 8/16/76 8/16/76 8/16/76 8/24/76 8/31/76 9/14/76 10/1/76 9/21/76 9/30/76 10/12/76 10/19/76 11/1/76 11/15/76 11/15/76 11/15/76 11/15/76 11/30/76 12/7/76 12/10/76 12/14/76./0 6 / 1/11/77 2/b3/77 2/15/77 2/08/77 2/15/77 2/15/77 2/28/77 3/8/77 3/8/77 3/31/77 4/4/77 4/5/77 4A/77 4/6/77 5/2/77 ;?/3 /7 7 5/16/77 5A6/77 5/31/77 6/3/77 5/31/ Bill 5.822# Bill 5.220# Bill 5.140# Bill 6.440# Bill 71/4# Note 71/2# Note 5.578# Bill 73/8# Note 63/8# Note 8# Note 5.572# Bill 7# Note 81/4# Bond 65/8# Note 6.010# Bill 71/2# Note 63/4# Note 11/2# Note 73/8# Note 5.781# Bill 5.645# 61/2# 77/8# 77/8# 6.309# 5.520^ 75/8# 6.081# 67/8# 75/8# 5.739# 67/8# 67/8# 8# 8# 5.634# 65/8# 67/8# 11/2# 5.561# 61/4# 7# 5.126# 57/8# 61/4# 7# 77/8# 5.201# 53/4# 57/S# 4.448# 4.708# 51/4# 61/8# 4.728# 57/8# 61/2# 5.345# 71/4# 75/8# Bill Note Note Note Bill Bill Note Bill Note Note Bill Note Note Note Bond Bill Note Note Note Bill Note Note Bill Note Note Note Bond Bill Note Note Bill Bill Note Note Bill Note Note Bill Note Bond 57/8# Note 67/8# Note 5.226# Bill Note 7# Note 5.158# Bill 11/2# Note 4.632# Bill 57/8# Note 5.163# Bill 71/4# Note 75/8# Bond 61/8# Note 63/4# Note 5.403# Bill 11/15/76 4/22/76 Reopening I2/I8/75 Reopening 12/26/75 ~ Reopening 12/14/76 12/31/77P 12/31/79G 1/11/77 5/15/81D 1/31/78J 2/15/83A 4/ 2/8/77 2/15/79H 5/15/ Reopening 11/30/77Q 3/8/77 3/31/80C 3/31/78K 4/1/81EA 2/15/81E 4/5/77 2y 4y 5y 4m 2y 7y 3y 29y 3m ly 9m 4y 2y 5y 4y 10l/2m 5/3/77 4/30/78L 2y 5/15/86A 6/ loy 2/15/952000Reopening 23y 9m 5/31/78M 2y 5/31/77 6/17/76Reopening 6/30/80D 4y lm 6/28/77 6/30/78N 8/15/81F 7/26/77 7/31/78P 8/15/79J 8/15/86B 6/ 8/15/ /23/77 8/31/78Q 9/30/80E 10/1/81E0 9/20/77 9/30/78R ll/15/81g 10/18/77 10/31/78S 11/15/79K 11/15/83B 2/15/952000Reopening 11/15/77 11/30/78T 12/31/80F 4/21/77Reopening 12/13/77 12/31/78U 2/15/82D 1/10/78 1/31/79L 2/15/80G 2/07/78 2/15/84A 2y 5y lm 2y 3y LOy 25y 2y 4y 5y 2y 5y 2y 3y 75r r3y 3m 2y 4y lm 2y 5y lm 2y 3y 7y 2/15/ Qy 2/28/79M 2y 3/31/81H 3/7/78 4y lm 3/31/79N 2y 5/15/82E 5y lm 4/4/78 4/L/82EA 5y 4/21/77Reopening 4/30/79P 2y 5/2/78 2/15/84AReopening 6y 9 m 2/15/ Reopening 29y 9 m 5/31/79Q 2y 6/30/81J ty lm 5/30/78 363d 139d lod 18d 364d 364d 364d 364d t 364d 364d 364d 9d 364d 364d 364d 364d 364d 365d 132d 364d 364d 36Ad 364d 364d 15d 364d 364d 5,482 5,289 1,657 1,977 6,013 4,390 4,294 4,901 3,328 3,603 29,211 4,3 4, ,959 5,666 5,507 4,851 5,180 6,046 5,668 4,712 9,000 1,525 4,952 4,381 6,007 5,246 4,856 4,296 5,581 5,663 4,829 5,693 24,426 2,556 4,934 4,827 5,442 6,454 5,335 4,205 5,219 4,324 5,6 6,469p 1,545 5,376 4,090 5,621 4, W 0 6,940 6,596 5,318 7,053 5,874 6,190 5,909 4,778 2,352 6,477 5,070 6,265 4,789 3,7 6,986 14,940 3,239 6,196 6,160 2,676 4,223 4,777 4,971 1,939 1, , , , ,245 2, ,253 2,553 2, ,020 2,508 6,019 2,930 3, ,628 3, ,066 2,628 3,203 2,485 2,921 2,010 2,185 2,612 2,638 2^586 2,977 2,855 2,289 8, ,953 2,895 2,141 2,oi7 2,868 2,543 3,095 2,822 3,306 2,259 1,001 3,402 2,805 2,692 2,005 3,505 3,124 2,697 3,071 2,855 3,308 3,105 2, ,695 2,809 3,208 2,995 2,613 3,342 4',506 1,882 2,966?;88 1,898 2,514 2,454 1,939 1, , , , / 60/ 61/ 62/ 2/ 4/ 65/ 66/ 62/ 68/ 62/ 20/ Zi/ 32/ 22/ 24/ 25/ 26/ 22/ 22/ 22/ 8Q/ gl/ 81A, 82/ 82/ 8&/ 85/ 86/ 82/ 88/ 22/ 20/ 21/ 22/ 22/ 24/ 25/ 26/ 22/ 22/ 22/ 100/ 10 1/ 102/ 103/ 10A/ Footnotes at end of table.

48 40 Treasury Bulletin Date subscription books closed or tenders received Issue date PUBLIC DEBT OPERATIONS Table PDO4. Offerings of Public Marketable Securities Other than Regular Weekly Treasury Bills Continued Description of securities 1/ (Dollar amounts in millions) Period to final maturity (years, months, days) 2/ Amount of subscriptions tendered Cash Exchange Amount issued 2/ Fop cash In exchange u 6/03/77 6/07/ # Bill 6/16/77Reopening 9d 9,460 2,002 6/21/77 6/30/77 61 /8# Note 6/30/79R 2y 4, , / 6/22/77 6/28/ $ Bill 6/27/78 364d 5,478 2,253 6/28/77 7/08/77 71/4# Bond 8/15/92 15y lm 3,699 1, / 7/19/77 8/01/77 61/4# Note 7/31/79S 2y 4, , / 7/20/77 7/26/ # Bill 7/25/78 364d 5,901 3,038 8/02/77 8/15/77 63/4# Note 8/15/80H 3y 7,929p 425 3,6693, / 8/03/77 8/15/77 71/4# Note 8/15/84B 7y 4,989p 300 2,511p / 8/04/77 8/15/77 75/8# Bond 2/15/200207Reopening 29y 6m 2,140p 199 1, / 8/17/77 8/23/ # Bill 8/22/78 364d 6,144 3,005 8/23/77 8/31/77 65/8# Note 8/31/79T 2y 7,000p 123 3,353p / 8/30/77 9/07/77 63/4# Note 9/30/81K 4y lm 5,141p 2,961p 112 / Q / m /77 Q /HA/ # Bill 9/15/77Reopening 9d 4,316p 901p 7/uX/ (( 7/ 'JO/ 1 ( 5.760# Bill 9/22/77Reopening I6d 5,278p 903p 9A4/77 9/20/ # Bill 9/19/78 364d 5,129p 3,048p 9/21/77 9/30/77 65/8# Note 9/30/79U 2y 6,100p 90 3,755p / 7/ 10/1/77 11/2# Note 10/l/82E0 5y /5/77 10/1 7 /7 7 71/8# Note 11A5/82F 5y lm 3,967p 2,727p 114/ 10/12/77 10/18/ # Bill 10/17/78 364d 4,8p 3,162p 10/18/77 10/31/77 71/4# Note 10/31/79V 2y 6,827p 218 4,100p / 10/28/77 11/15/77 71/8# Note 11/15/80J 3y 9,240p 625 3,8p / 11/1/77 11/15/77 75/8# Note 11/15/87A loy 4,255p 373 2,003p / 11/2/77 11/15/77 77/8# Bond 11/15/ y 2,921p 240 l,254p / 11/4/77 11/7/ # Bill 11/15/77Reopening 8d 6,416 2,505 11/9/77 11/15/ # Bill 11/14/78 364d 5,693p 3,587p 11/22/77 11/30/77 71/8% Note 11/30/79W 2y 8,715p 112 4,671p / 11/29/77 12/2/ # Bill 4/20/78Reopening 139d 7,406p 3,004p 11/30/77 12/7/77 71/4# Note 12/31/81L 4y lm 5,407p 3,436p 120/ 12/7/77 12/13/ # Bill 12/12/78 364d 5,826p 3,838p 12/21/77 1/3/78 71/8# Note 12/31/79X 2y 4,213p 328 3,560p / 12/27/77 1/6/78 77/8# Bond 2/15/93 15y lm 2,966p l,500p 122/ 1/04/78 1/10/ # Bill 1/09/79.64d 5,432p 3,156p 1/18/78 1/31/78 71/2# Note 1/31/S0K 2y 6 652p 272 3,572p / 1 '31/78 2/15/78 71/2# Note 5/15/81 M 3y 3m 5,058p 1,000 2,504p 1,000 12U 2/01/78 2/07/ # Bill 2/6/79 5,517p 3,249p 2/01/78 2/15/78 8# Note 2/15/85A 7y 4,856p 1,200 3,000p 1, / 2/02/78 2/15/78 Bond 5/15/ y 3m 3,377p 771 l,250p 771 2/16/78 2^8/78 75/8# Note 2/29/80L 2y 5/220p 53 3,742p J27/ 2/22/78 3/6/78 77/8# Note 3/31/82G 4y lm 5,817p 2,835p 128/ 3/1/78 3/7/ # Bill 3/6/79 364d 5,587p 3,316p 3/3/78 3/8/ # Bill 4/20/78Reopening 43d 7,284p 3,004p F' '.ii»< ^ r blowing page. Allotment ratio

49 March 1978 PUBLIC DEBT OPERATIONS Footnotes to Table PDO4. 41 Source Bureau ol th<. Public Debt. Note. All securities except EA & EO notes and those bearing footnote 6 were sold at auction through competitive and noncompetitive bidding. 1/ For bill 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 and those sold at auction. For details of bill offerings see Table PDO2. 2/ From date of additional issue m case of a reopening. 2/ In reopenings the amount issued is in addition to the amount of original offerings. Lj For securities exchanged for the new lssuej see Table PDO7. 5/ Tax anticipation bill, accepted at face value m payment of income taxes due on the 15th of the month in which the bills mature. / Sold at fixed price by subscription. 7/ Exchange offering available to owners of nonmarketable 23/4% Treasury bonds, Investment Series B197580, dated April 1, For further information on the original offering see Treasury Bulletin for April 1951, page Al. 8/ Issued to Federal Reserve banks and Government accounts in exchange for notes maturing August 15, / Prices accepted ranged from (yield 8.48$) down to (yield 8.65$) with the average (yield 8.59%). 10/ Prices accepted ranged from (yield 8.67%) down to (yield 8.78%) with the average at (yield 8.75%). 11/ Prices accepted ranged from (yield 8.52%) down to (yield 8.70$) with the average at (yield 8.63%). 12/ Issued to Federal Reserve banks and Government accounts m exchange for notes maturing September 30, / Yields accepted ranged from 8.39% (price 99.75) down to 8.20% (price ) with the average at 8.34# (price 99.84). 1i j Yields accepted ranged from 7.93% (price ) down to 7.78% (price ) with the average at 7.89% (price 99.37). 15/ Issued to Federal Reserve banks and Government accounts in exchange for securities maturing November 15, / Yields accepted ranged from 7.87% (price down to 7.78% (price ) with the average at 7.85% (price ). 17/ Yields accepted ranged from 7.86% (price ) down to 7.75% (price ) with the average at 7.82% (price ). 18/ Prices accepted ranged from (yield 8.17%) down to (yield 8.23%) with the average at (yield 8.21%). 12/ Sale of a "strip" of Treasury bills consisting of an additional $200 million of each weekly series maturing from December 12, 1974, through January 9, / Issued to Federal Reserve banks and Government accounts in exchange for notes maturing December 31, / Yields accepted ranged from 7.37% (price ) down to 7.15% (price ) with the average at 7.32% (price ). 22/ Prices accepted ranged from (yield 7.27%) down to (yield 7.37%) with the average at 101,95 (yield 7.33%). 23/ Prices accepted ranged from 100. (yield 7.18%) down to (yield 7.27%) with the average at (yield 724$). 24/ Issued to Federal Reserve banks and Government accounts in exchange for notes maturing February 15, / Yields accepted ranged from 7.17$ (price ) up to 7.23% (price ) with the average at 7.21# (price ). 26/ Yields accepted ranged from 7.40# (price ) up to 7.52# (price ) with the average at 7.49# (price ). 27/ Yields accepted ranged from 7.89# (price ) up to 7.96# (price ) with the average at 7.95# (price 99.1). 28/ Yields accepted ranged from 5.88# (price ) up to 5.98# (price ) with the average at 5.94# (price ). 29/ Yields accepted ranged from 5.97# (price ) up to 6.12# (price ) with the average at 6.09# (price ). 30/ Prices accepted ranged from (yield 7.45#) down to (yield 7.54% with the average at (yield 7.51#). 31/ Yields accepted ranged from 5.90# (price ) up to 6.01# (price ) with the average at 5.98# (price 99.9). 32/ Yields accepted ranged from 6.40# (price ) up to 6.60# (price ) with the average at 6.51# (price ). 33/ Yields accepted ranged from 8.15# (price ) up to 8.37# (price ) with the average at 8.31% (price ). 34/ Yields accepted ranged from 6.9*)% (price ) up to 7.19# (price ) with the average at 7.15# (price ). 35/ Yields accepted ranged from 7.37% (price ) up to 7.45# (price ) with the a\erdge at 7.43# (price ). 36/ to KeIf W',ivt hcuikb and Govt ruu. rt accounts in exchange tor notes maturing May 10, // Yields accepted ranged trom?.60h (price ; up t<j 7. '4$ (price ) with the average at 7.70# (price ). 38/ Yields accepted ranged from 7.96# (price ) up to 8.02# (price ) With the average at 8.00# (price ). 39/ Yields accepted ranged from 8.25% (price ) up to 8.32# (price ) with the average at 8.30# (price ). 40/ Yields accepted ranged from 6.79# (price ) up to 6.92# (price ) with the average at 6.86# (price ). 41/ Yields accepted ranged from 6.38# (price ) up to 6.58# (price ) with the average at 6.54# (price ). 42/ Yields accepted ranged from 6.50# (price ) up to 6.69# (price ) with the average at 6.61# (price ). <43/ Yields accepted ranged from 7.74# (price ) up to 7.85# (price ) with the average at 7.83% (price ). 44/ Yields accepted ranged from 7.49# (price ) up to 7.53# (price ) with the average at 7.52# (price ). 45/ Issued to Federal Reserve banks and Government accounts in exchange for notes maturing August 15, / Yields accepted ranged from 7.75# (price ) up to 7.97# (price ) with the average at 7.94# (price ). in/ Yields accepted ranged from 8.06# (price ) up to 8.18# (price ) with the average at 8.14# (price ). 18/ Yields accepted ranged from 8.38# (price ) up to 8.48# (price 98.7) with the average at 8.44# (price ). L9/ Yields accepted ranged from 8.15# (price ) up to 8.29# (price ) with the average at 8.25# (price ). 50/ Yields accepted ranged from 8.45# (price ) up to 8.56# (price ) with the average at 8.54# (price ). 51/ Issued to Federal Reserve banks and Government accounts m exchange for notes maturing September 30, / Yields accepted ranged from 8.40# (price ) up to 8.46# (price ) with the average at 8.44# (price ). 53 Yields accepted ranged from 8.05# (price ) up to 8.13# (price ) with the average at 8.10# (price ). 54/ Yields accepted ranged from 8.06# (price ) up to 8.19# (price ) with the average at 8.14# (price ). 55/ Yields accepted ranged from 7.47# (price ) up to 7.59# (price ) with the average at 7.55# (price ). 56/ Issued to Federal Reserve banks and Government accounts in exchange for notes maturing November 15, / Yields accepted ranged from 7.87# (price ) up to 7.95# (price ) with the average at 7.92# (price ). 58/ Prices accepted ranged from (yield 8.21#) down to (yield 8.24#) with the average at (yield 8.23%). 52/ Yields accepted ranged from 7.24# (price ) up to 7.31# (price ) with the average at 7.28# (price ). 60/ Yields accepted ranged from 7.43# (price ) up to 7.53# (price ) with the average at 7.50% (price ). 61/ Yields accepted ranged from 7.35# (price ) up to 7.42# (price ) with the average at 7.40# (price ). 62/ Yields accepted ranged from 6.41#.(price ) up to 6.51# (price ) with the average at 6.49# (price ). 62/ All accepted subscriptions were awarded at the price of (yield 8.00#). 6i j Yields accepted ranged from 7.00% (price ) up to 7.09% (price ) with the average at 7.05% (price ). 65/ Prices accepted ranged from (yield 8.05%) down to (yield 8.12#) with the average at (yield 8.09#). 66/ Yields accepted ranged from 6.57# (price ) up to 6.64# (price ) with the average at 6.62# (price ). 67/ Yields accepted ranged from 7.50# (price ) up to 7.55# (price ) with the average at 7.54# (price ). 68/ Yields accepted ranged from 6.71# (price ) up to 6.80# (price ) with the average at 6.76% (price ).

50 42 PUBLIC DEBT OPERATIONS, Footnotes to Table PDO4. Continued Treasury Bulletin 69/ Yields accepted ranged from 7.35% (price ) up to 7.39% (price ) with the average at 7.38# (price ). 70/ Yields accepted ranged from 6.59# (price ) up to 6.63# (price ) with the average at 6.61# (price ). 71/ All accepted subscriptions were awarded at the price of (yield 7.875#). 72/ Prices accepted ranged from (yield 8.11#) to (yield 8.22#) with the average at (yield 8.19#). 73/ Yields accepted ranged from 7.08# (price ) up to 7.19# (price ) with the average at 7.16# (price ). 74/ Yields accepted ranged from 7.68# (price ) up to 7.73# (price ) with the average at 7.71# (price ). 75/ Yields accepted ranged from 6.96# (price ) up to 7.01# (price ) with the average at 6.99# (price ). 76/ Yields accepted ranged from 7.60# (price ) up to 7.64# (price ) with the average at 7.63# (price ). 77/ Yields accepted ranged from 6.90# (price ) up to 6.96# (price ) with the average at 6.95# (price ). 78/ Yields accepted ranged from 6.88# (price ) up to 6.92# (price ) with the average at 6.# (price ). 79/ All accepted subscriptions were awarded at the price of (yield 8.00#). 80/ Yields accepted ranged from 7.98# (price ) up to 8.03# (price ) with the average at 8.01# (price ). 81/ Yields accepted ranged from 6.59# (price ) up to 6.69# (price ) with the average at 6.67# (price 99.7). 81A/ Yields accepted ranged from 6.90# (price ) up to 6.94# (price ) with the average at 6.93# (price ). 82/ Yields accepted ranged from 6.27# (price ) up to 6.32# (price ) with the average at 6.30# (99.907). 83/ Yields accepted ranged from 7.02# (price ) up to 7.10# (price ) with the'average at 7."08#'(price ). 84/ Yields accepted ranged from 5.88# (price 99.9) up to 5.99# (price ) with the average at 5.96# (price ). 85/ Yields accepted ranged from 6.32# (price ) up to 6.37# (price ) with the average at 6.36# (price ). 86/ Yields accepted ranged from 7.00# (price Q)up to 7.02# (price 99.8) with the average also at 7.02# 87/ Prices accepted ranged from (yield 7.77%) down to (yield 7 82t) wilh the average at 100 7Q (yield 7.80#). 88/ Yields accepted ranged from 5.76# (price ) up to 5.94# (price ) with the average at 5.86# (price ). 89/ Yields accepted ranged from 5.87# (price ) up to 5.92# (price ) with the average at 5.# (prw ). 90/ Yields accepted ranged from '5.29# (price ) up to 5.38# (price ) with the average at 5.37# (price ). / Yields accepted ranged from 6.15# (price ) up to 6.20# (price ) with the average at 6.19# (price ). 92/ Yields accepted ranged from 5.94# (price ) up to 5.99# (price ' with the av ra^e at 5.97# (pne<=> \ 93/ Yields accepted ranged from 6.56# (price ) up to 6.64# (price ) with the average at 6.62# (price ). 94/ Yields accepted ranged from 7.21# (price ) up to 7.27# (price 99.89?) with tbe average at 7>?e<t fpr>',« ). 95/ Yields accepted ranged from 7.58# (price ) up to 7.63# (price ) with the average also at 7.63#. 96/ Yields accepted ranged from 5.95# (price ) up to 5.99# (price ) with the average at 5.98# (price 99.80*0. 97/ Yields accepted ranged from 6.85# (price ) up to 6.90# (pr * ) with the average at 6.88# (price ). 98/ Yields accepted ranged from 5.99# (price ) up to 6.03# (pric * 99 9LO i/rth tne avt'^atn cu 6 (n r i ). 99/ Yields accepted i*ngeci from 6.98# (price ) up to 7.03% (price ) with the ci\/oretf* *1 r.02l (utl.* ). 100/ Yields accepted ranged from 5.84# (price ) up to 5.89# (price ) with the average at 5.87# (price ). 101/ Prices accepted ranged from (yield 7.24#) down to (yield 7.29%) with the average at (yield 7.28#). 102/ Prices accepted ranged from (yield 7.75#) down to (yield 7.78#) with the average at (yield 7.77#). 103/ Yields accepted ranged from 6.20# (price ) up to 6.25# (price ) with the average at 6.23# (price ). 104/ Yields accepted ranged from 6.75# (price ) up to 6.82# (price ) with the average at 6.80# (price ). 105/ Yields accepted ranged from 6.11# (price ) up to 6.14# (price ) with the average at 6.14# (price ). 106/ Yields accepted ranged from 7.27% (price ) up to 7.30# (price ) with the average at 7.29# (price ). 107/ Yields accepted ranged from 6.25# (price ) up to 6.35# (price ) with the average at 6.34# (price ). 108/ Yields accepted ranged from 6.78# (price ) up to 6.85# (price ) with the average at 6.84# (price ). 109/ Yields accepted ranged from 7.24# (price ) up to 7.27# (price ) with the average at 7.26# (price ). 110/ Prices accepted ranged from (yield 7.70#) down to (yield 7.73#) with the average at (yield 7.72#). Ill/ Yields accepted ranged from 6.65# (price ) up to 6.68# (price ) with the average also at 6.68#. 112/ Yields accepted ranged from 6.80# (price ) up to 6.85# (price ) with the average at 6.84# (price ). 113/ Yields accepted ranged from 6.71# (price ) up to 6.75# (price ) with the average at 6.74# (price ). 11a / Yields accepted ranged frdm 7.15# (price ) up to 7.20# (price ) with the average at 7.18# (price ). 115/ Yields accepted ranged from 7.20# (price ) up to 7.29# (price ) with the average at 7.27# (price ). 116/ Yields accepted ranged from 7.22# (price ) up to 7.25# (price ) with the average at 7.24# (price ),. 117/ Yields accepted ranged from 7.66# (price ) up to 7.71# (price ) with the average at 7.69# (price ). 118/ Yields accepted ranged from 7.92# (price ) up to 7.95# (price ) with the average at 7.94# (price ). 112/ Yields accepted ranged from 7.12# (price ) up to 7.14# (price ) with the average at 7.13# (price 99.9). 120/ Yields accepted ranged from 7.29# (price 99,845) up to 7.32# (price ) with the average at 7.31# (price ). 121/ Yields accepted ranged from 7.16# (price ) up to 7.23# (price ) with the average at 7.20# (price ). 122/ Yields accepted ranged from 7.92# (price ) up to 7.96# (price ) with the average at 7.95# (price 99.31*^ 123/ Yields accepted ranged from 7.52# (Price ) up to 7.56# (price 99.8) with the average at 7.55# (price ). 124/ Yields accepted ranged from 7.50# (price ) up to 7.55# (price ) with the average at 7.53# (price ). 125/ Prices accepted ranged from (yield 7.85#) down to (yield 7.89#) with the average at (yield 7.88#). 126/ Prices accepted ranged from (yield 8.18#) down to (Vioid #) with the average at (yield 8.23#). 127/ Yields accepted ranged from 7.67% (price ) up to 7.71# (price ) with the average at 7.70# (price ). 128/ Yields accepted ranged from 7.87# (price ) up to 7.90# (price ) with the average at 7.89# (price ). * Less than $500,000. p Preliminary.

51 March PUBLIC DEBT OPERATIONS. Table PDO5. Unmatured Marketable Securities Issued at a Premium or Discount Other than Advance Refunding Operations Description of securities Date of financing Amount issued (In millions) Average price per hundred Effective interest rate Eligible securities exchanged 12Z8 63/4$ Note 3/31/78K 3/31/76 $ 97 3,066 3,162 $99, # / 3/31/76H 61/2# Note 71/8# Note 77/8# Note 71/8# Note 67/8# Note 67/8# Note 83/4# Note 75/8# Note 65/8# Note 61/4# Note 4/30/78L 5/15/78D 5/15/78F 5/31/7 &M 6/30/78N 7/31/78P 8/15/78C 8/15/78E 8/31/78Q 9/30/78R 5/17/76 2/18/75 8/15/75 6/1/76 6/30/76 7/30/76 5/15/74 5/15/75 8/31/76 9/30/ ,274 2, ,264 3,960 1,372 3,051 4, ,485 2, ,638 3,331 2, ,880 2, W 2,855 5, ,895 2, ,868 3, /4# 2/ 53/4# 57/8# 2/ 57/8# 2/ 2/ 83/4# 2/ 2/ 71/4# 41/4# 2/ Note Note Note Bond # Note / /8# Note / /4# Note / 5/15/76E 2/15/75A 2/15/75E 8/15/75C 5/3I/76M 6/30/761 5/15/74D 5/15/74 5/15/75B 8/31/76L 9/30/76J 57/8# Note 6# Note 53/4# Note 81/8# Note 51/4# Note ms> 57/8# Note 6# Note 57/8# Note 10/31/78S 11/15/78B 11/30/78T 12/31/78H 12/31/78U 2/28/79M 3/31/79N 4/30/79P 11/1/76 11/15/71 11/30/76 10/22/75 12/31/76 2/28/77 3/31/77 5/2/ ,822 2,921, ,805 2,941 2, ,124 3,376 " 150 2,695 2, ,995 3, ,882 1, /2# Note / /8# Note /4# Note 6; 05 43/4# Note /4# Note # Note /8# Bond # Bond /8# Note / / /4# Note / # Note /2# Note / /8# Note / 10/31/760 11/15/71B 11/15/71G 5/15/72B 5/15/72D 8/15/72E 11/15/71 8/15/72 11/30/ /31/76K 2/28/77F 3/31/77G 4/30/77H t

52 44 PUBLIC DEBT OPERATIONS Treasury Bulletin Table PDO5. Unmatured Marketable Securities Issued at a Premium or Discount Other than Advance Refunding OperationsContinued Descript.ion of securities Date of financing Amount issued (In millions) Average price per hundred Effective interest rate Eligible securities exchanged 77/8# Note 5/15/79D 61/8# Note 5/31/79Q 11/6/74 1/7/75 5/31/77 $1,0 16 1, ,898 $99, % 2/ / /4% Note / 5/31/771 73/4% Note 61/8# Note 6/30/79E 6/30/79R 7/9/75 6/30/77 1, ,044 2, / /2# Note / 6/30/77J 61/4# Note 67/8# Note 65/8# Note 81/2# Note 65/8# Note 71/4% Note 7/31/79S 8/15/79J 8/31/79T 9/30/79F 9/30/79U 10/31/79V 8/1/77 8/16/76 8/31/77 9/4/75 9/30/77 10/31/ ,115 3, ,289 2, ,359 3,481 2, ,771 3, p 4,113p 4,331p /2# Note / 6. 71/2# Note 6. 2/ I/4# Note / / /8# Note / /2# Note / 65/8# Note 61/4# Note 71/8% Note 11/15/79B 11/15/79C 11/15/79K 11/30/79W 2/15/73 11/15/73 11/15/76 11/30/ ,009 1, ,021 2, ,306 3, p 4,6779 4,789p /8# Note / /2# Bond / /4# Note / /8# Note / 2/15/73 D 11/15/73 11/15/76D 11/30/77Q 71/2# Note 12/31/79G 1/6/76 2, / 71/8# Note /2# 61/2% Note 4# 75/8# Note 71/2# 67/8# 75, 9% Note Note Note Note 63/4# Note 12/31/79X 1/31/80K 2/15/80G 2/15/80 1/ 2/29/80L 3/31/80C 5/15/80A 6/30/80D 8/15/80B 8/15/80H 67/8# Note 9/30/80E 71/8# Note 11/15/80J 57/8# Note 12/31/80F 1/3/78 1/31/78 2/15/77 f 1/23/59 \l2/15/62 2/28/78 3/17/76 5/15/73 6/10/76 8/15/74 8/15/77 9/14/76 11/15/77 12/7/76 328p 3,592p 3,9p 272p 3,602p 3,873p 1,300 3,308 4,608~ p TOp 2,069 2,636 2,585 2,043 7,265 2,185 2,461 1,835 4, ,708 4,133 2, p 3.969p 4,594P 2, /4# Note / /8# Note / % Note / , / Series F&G savings bonds 2J 21 1/31/78J 2/15/77A 2/28/78G 2/ 73/4# Note 5/15/73A 43/4# 2/ Note 5/15/73E 2/ 55/8# Note 8/15/74B 2/ 73/4# Note 2J 2/ 73/4% Note 2/ 2/ 8/15/77B 11/15/77E Footnotes at end of table.

53 March , PUBLIC DEBT OPERATIONS. PDO5. Unmatured Marketable Securities Issued at a Premium or Discount Other than Advance Refunding OperationsContinued # 73/8% 67/8# 73/8# 71/2# 63/4# Description of securities Note Note Note Note 2/15/81A 2/15/81C 2/ 3/31/81H 5/15/81D 5/15/81M 6/30/81J Date of financing 2/15/74 2/18/75 4/5/76 3/8/77 1/26/76 2/15/78 6/3/77 nount issued [n millions) Average price per hundred Effective interest rate Eligible securities exchanged $ 25 $ $ 73/4# Note 2/15/74C /8# Bond. 2/15/74 1, / 1, /4# Note 2/15/75A 1, / 2,168 2, / 2,,i / 2, / l,000p /4# Note 2/l5/78A 2,890p / 3,890p 2, / 75/8# 7# 63/4# 73/4# 7# 71/4# /8# 61/8# 8# 7# 81/8# 77/8# Note Bond Note Note Note Note Bond Note Note Note 8/15/81F 8/15/81 9/30/81K 11/15/81B 11/15/81G 12/31/81L 2/15/821/ 2/15/82D 5/15/82A 5/15/82E 8/15/82B 11/15/82C 7/9/76 8/15/71 9/7/77 fll/15/74 1 3/19/75 10/12/76 12/7/77 5/15/72 1/6/77 5/15/75 4/4/77 8/15/75 11/17/75 2, / /4# Note 8/15/71F # Bond 8/15/ / 807 2, / /4# Note 1, / 11/15/74A 2,715 1, / 2, / 3,450p / / 2, / 1, # Note 5/15/75B 1, / 2,747 2, / /8# Note 8/15/75C. 2,017 2, # Note 11/15/75D 2, / 2,902 71/8# # Note Note 11A5/82F 11/15/83B 10/L7/77 11/15/76 2, / /4# 2, / Note 11/15/76D 2,309 71/4# Note 2/15/84A 63/8# Bond 8/15/84 71/4# Note 8/15/84B # Note 2/15/85A 31/4# Bond 5/15/85 Footnotes at end of table. 2/15/77 5/16/77 8/15/72 8/15/77 2/15/78 6/3/ # 2, / Note 2/15/77A 2,905 2,623 2, # 2/ Note 5/15/77D 5, # Note 8/15/72E # Bond 8/15/ /2# Bond 9/15/ # Note 11/15/72F /2# Bond 12/15/ /4# Note 11/15/74A /8# Bond 11/15/ /4# Note 2/15/75A /8# Note 2/15/75E / 2,353 ;oop /4# Note 8/15/77B 2,563p / 2,863p l,200p 2,995p /4# 2/ Note 2/15/78A 4,195p 1, /

54 46 Treasury Bulletin, PUBLIC DEBT OPERATIONS. Table PDO5. Unmatured Marketable Securities Issued at a Premium or Discount Other than Advance Refunding Operations Continued Description of securities Date of financing 61/8# Bond 11/15/86 11/15/71 2M1 41/4# Bond 8/15/8792.L/ 8/15/62 75/8# Note 11/15/87A 11/15/77 I Amount issued (In millions) $ , p 2,015p 2,388p Average price per hundred Effective interest rate Eligible securities exchanged $ # 53/8# Nvte /4# Note /4# Note *3/4# Note 6.15 Note # Bond # Bond / # Note /4# Note / /4# Note / 11/15/71B 11/15/71G 5/15/72B 5/15/72D 8/15/72E 11/15/71 8/15/72 8/15/62B 8/15/62G 11/15/77E # Bond 2/15/8893 1/17/ /8# Bond 2/15/9500 ' 8/15/73 71/2# Bond 8/15/8893 < 11/15/73 2/15/ /8# Bond 5/15/8994 4/18/ /4# Bond 5/15/90 4/7/ /4# Bond 8/15/92 7/8/ /4# 77/8# Bond Bond 2/15/93 2/15/93 1/10/73 1/6/78 7# Bond 5/15/9398 5/17/76 199A 81/2# Bond 5/15/9499 r 5/15/74 < 8/15/74 ^11/15/74 2/18/75 5/17/ ,247 l,504p 627 l,501p SQL / /8# Note # Bond / /8# Bond / /4# Note /8# Bond / / / / / / /4# Note / /4# Bond / /8# Note / /4# Note /8# Bond / /4# Note / /2# Note / 8/15/73B 8/15/73 11/15/73 2/15/74C 2/15/74 5/15/73A 5/15/74 8/15/74B 11/15/74A 11/15/74 2/15/75A 5/15/76B 83/8# Bond # Bond /4# Bond 8/15/9500 8/15/9601 5/15/ /15/76 ( '8/15/75 11/17/75 8/16/76 5/15/75 2/17/76 1, , ,001 1, , , / /8# Note / # Note / /2# Note /2# Note / /8# Note Note / /4# Note / 8/15/75C 11/15/75D 8/15/76C 8/15/76G 5/15/75F 5/15/75B 2/15/76A

55 March PIIBT.Tfl DEBT OPERATIONS Table PDO5. Unmatured Marketable Securities Issued at a Premium or Discount Other than Advance Refunding Operations Continued Description of securities Date of financing Amount issued (In millions) Average price per hundred Effective interest rate Eligible securities exchanged > f $ 450p $ # 61/4# Note 2/15/78A 2/15/78 \ l,575p / 2,024p 2/15/77 f # Note 2/15/77A V / 1,143 75/8# Bond 2/15/0207 f /8# Note 5/15/77C 5/16/77 < # Note 5/15/77D \ 1, / 8/15/77 1,903 / /4# \ 1, / Note 8/15/77B 1,202 77/8# Bond 11/15/ /15/77 / 240p /4# Note ll/15/77e \ l,255p / l,495p 1/ Additional issue. 2/ Issued for cash. 3/ Treasury Notes, 73/8# Series C1981 and 73/8# Series E1981 consolidated effective Sept. 1, * Less than $500,000. p Preliminary.

56 s PUBLIC DEBT OPERATIONS Treasury Bulletin 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 B ills 1/ U.S. Government accounts Commercial and Federal banks Reserve 1/ banks 2/ Individuals V Insurance companies Mutual savings banks Corporations 1/ (In millions of dollars) Allotments by investor classes State and local Private governments 6/ pension Pension and re and re tirement funds tire ment funds Other funds Dealers and brokers 8/15/70 r73/4# Note 2/15/74C 3, , ^ 73/4# Note 8/15/77B 2, /17/70 71/2# Note 2/15/72C 3, , /15/70 [71/4# Note 5/15/74D 4, , ^ 71/2# Note 8/15/76C 8/ 2, , /16/70 63/4# Note 5/15/72D 2,037 1, * /15/71 f57/8# Note 8/15/75C 7,679 2,319 3, I/4# Note 2/15/78A 8,389 2,722 3, /15/71 I5# Note 8/15/72E 3,452 1,457 1, ^53/4# Note 11/15/74A 8/ 3,231 1,046 1, /29/71 6# Note 11/15/72F 2,285 2, * /15/71 f7# Note 11/15/75D 3, , ^7# Bond 8/15/ /16/71 61/2# Note 2/1 5/73C 2,514 2, * /8/71 61/4# Note 11/15/76D 1,283 1, * /22/71 57/8# Note 2/15/75E 2,045 1, f47/8# Note 11/15/73D 2,768 1,500 1,500 1, /15/71 ( 6# Note 11/15/78B 8,207 2,5 3, , /8# Bond 11/15/ , /15/72 f 53/4# Note 5/15/76E 2, , \ 63/8# Bond 2/15/ , /3/72 57/8# Note 5/15/75F 1,776 1, /15/72 f 43/4# Note 5/15/73E 1,279 2,514 2,514 1,231 6 * * 4 * * 2 10 \63/8# Bond 2/15/82 8/ * * 1 * * f57/8# Note 2/15/76F 4,945 1,028 2, /15/72 j61/4# Note 8/15/79A 4,559 1,437 1, \63/8# Bond 8/15/ ,312 1, /19/72 6# Note 9/30/74E 2,060 1, * * * /15/72 61/4# Note 11/15/76D 8/ 3, , * /28/72 57/8# Note 12/31/74F 2,102 2,062 6 * 3 1 * /10/73 63/4# Bond 2/15/ * /15/73 f 61/2% Note 8/15/76G 3,883 1,392 1, * \65/8# Note 11/15/79B 1, * * 1 * * /15/73 / 67/8# Note 5/15/80A 2,043 5,221 5,275 1, \ 7# Bond 5/15/ * /15/73 J 73/4# Note 8/15/77B 8/ 2, , /2# Bond 8/15/ /4/73 83/8# Note 9/30/75G 2, , * (7% Note 12/31/75H 1, , * /15/73 ( 7% Note 11/15/79C 2, , * * V71/2# Bond 8/15/8893 8/ * * 9S 35 ( 67/8# Note 5/15/77C 2, , /15/74 { 7# Note 2/15/81A 1, , * * * >71/2# Bond 8/15/8893 8/ * * * /9/74 8# Note 3/31/76H 1, , f 83/4# Note 6/30/761 2, , /15/74 (83/4# Note 8/15/78C 1, , v81/2# Bond 5/15/ f 5# Note 8/15/80B 1,835 2,461 2, /15/74 / 9# Note 5/15/77D 2,393 2,936 2, * (81/2# Bond 5/15/9499 8/ * * /30/74 81/4# Note 9/30/76J 1, , * 27 * /6 /74 77/8# Note 5/15/79D 1, (73/4# Note 11/15/77E 2,571 1,059 1,059 1, * /15/74 <73/4# Note 11/15/81B 1, (81/2# Bond 5/15/9499 8/ * /31/74 71/4# Note 12/31/76K 2, , * * /7/75 77/8# Note 5/15/79D 8/ 1, * 10 * * /9/75 8# Note 3/31/76H 8/ * (71/8# Note 5/15/78D 3, , /18/75 <73/8# Note 2/15/81C 1, , (77/8# Bond 2/15/ Footnotes at end of table, All other U

57 March Date of financing PUBLIC DEBT OPERATIONS Table PDO6 Allotments by Investor Classes on Subscriptions for Public Marketable Securities Part A. Other than Bills 1/ Continued (In millions of dollars) Issues Allotments by investor classes Amount issued U.S. Gov State and local Description of securities For cash In ernment accounts Commer Indi Mutual Private exchange Corporations and re for and cial viduals compaings ance sav pension Federal banks other Reserve 5/ securities 2/ U nies banks tirement funds banks 2/ governments 6/ Pension and retirement funds Other funds Dealers All and brokers 3/3/75 f6# Note 2/28/77F 1, * ^57/8# Note 8/31/76L 1, /19/75 73/4# Note 11/15/81B 8/ 1, S * /25/75 6# Note 5/31/764* 1,580 1, * /31/75 61/2# Note 3/31/77G 2, , /7/75 81/4# Bond 5/15/90 1, * /8/75 71/8# Note 11/30/76N 1, /30/75 73/8# Note 4/30/77H 1, /15/75 f75/8# Note 8/15/78E 2,855 2,300 2,300 1, / 8# Note 5/15/82A 1,514 1,233 1, /4# Bond 5/15/ /27/75 63/4# Note 5/31/771 2,137 1, /6/75 61/2# Note 10/31/760 1, /30/75 61/2# Note 6/30/77J 2, , /9/75 73/4# Note 6/30/79E 1, /31/75 71/2# Note 7/31/77K 1, /15/75 f77/8# Note 5/15/78F 3,051 1,372 1,372 1, / 81/8# Note 8/15/82B 2, /8# Bond 8/15/ /29/75 81/4# Note 8/31/77L 2, , /4/75 81/2# Note 9/30/79F 2,081 1, ? /30/75 83/8# Note 9/30/77M 3, , /7/75 8# Note 2/28/78G 2, /22/75 81/8# Note 12/31/78H 2,517 1, * /31/75 71/2# Note 10/31/77N 3,156 1, /17/75 f 77/8# Note 11/15/82C 2, , , \83/8# Bond 8/15/9500 8/ 1, /31/75 71/4# Note 12/31/77P 2, , /6/76 71/2# Note 12/31/79G 2,006 1, * /26/76 73/8# Note 5/15/81D 2,020 1, /2/76 63/8# Note 1/31/78J 2, , /17/76 ( % Note 2/15/79H 3,092 1,600 1,600 1, < 8# Note (81/4# Bond 5/15/0005 2/15/83A 6,019 1,939 1,939 1,761 2, / * 250 * 3/3/76 65/8# Note 11/30/77Q 2,628 1, /17/76 71/2# Note 3/31/80C 2,069 1, /31/76 63/4# Note 3/31/78K 3, , /5/76 73/8# Note 2/15/81C 2,628 1, /17/76 f61/2# Note 4/30/78L 2, , ( 77/8# Note 5/15/86A 4, ,894 1, /8# Bond 2/15/9500 8/ /1/76 71/8# Note 5/31/78m 2, , * /10/76 75/8# Note 6/30/80D 2,185 1, * /30/76 67/8# Note 6/30/78N 2, , /9/76 75/8# Note 8/15/81F 2,586 1, , /30/76 67/8# Note 7/31/78P 2,855 1, * r67/8# Note 8/15/79J 2, , ' 18 * /16/76 ( 8# Note 8/15/86B 8,039 1,476 1,476 2,356 3, V8# Bond 8/i5/ /31/76 65/8# Note 8/31/78Q 2, , * /14/76 67/8# Note 9/30/80E 2, /30/76 6I/4# Note 9/30/78R 2, , /12/76 7# Note 11/15/81G 2,543 1, Footnotes at end of table. other 1/

58 50 PUBLIC DEBT OPERATIONS. Treasury Bulletin Date of financing 11/1/76 11/15/76 11/30/76 12/7/76 12/31/76 1/6/77 2/3/77 2A5/77 2/23/77 3/3/77 3/31/77 4/4/77 5/2/77 5/16/77 5/31/77 6/3/77 6/30/77 7/3/77 3A /77 3/15/77 3/31/77 9/7/77 10/31/77 11/15/77 Table PDO6. Allotments by Investor Classes on Subscriptions for Public Marketable Securities Part A. Other than Bills 1/ Continued (In millions of dollars) Allotments by investor classes Description of securities 57/3# Note 61/4# Note 7# Note 77/8# Bond 53/4# Note 57/3# Note 51/4# Note 61/3# Note 57/3# Note 61/2# Note 71/4# Note 75/3# Bond 57/8# Note 67/3# Note 6# Note 7# Note 57/8# Note lo/31/78s 11/15/79K 11/15/83B 2/15/9500 8/ 11/30/78T 12/31/80F 12/31/78U 2/l 5/8 2D 1/31/79L 2/15/80G 2/15/84A 2/15/0207 2/28/79M 3/31/81H 3/31/79N 5/15/82E 4/30/79P 1/4# Note 2/15/84A 8 / f c 5/8# Bofid 2A5/ / 61/8# Note 5/31/79Q 63/4# Note 6/30/81J 61/8# Note 6/30/79R 71/4# Bond 8/L5/92 61/4# Note 7/3I/79S 3/4# Note 8A5/80H 1/4# Note 8A5/84B. 5/8# Bond 2A5/0207 8/ 5/8# Note 8/31/79T 63/4# Note 9/30/81K 65/8# Note 9/30/79U 71/8# Note ll/15/82f 5Note 10/31/79V»Note 11/15/80J 5/8# Note 11/15/87A Amount issued For cash 2,823 3,306 2,259 1,001 2,805 2,692 3,124 2,697 2,855 3,308 2, ,695 2,809 2,996 2,613 1,882 2,0 1,004 1,897 2,514 2,044 1, ,708 2,563 1,003 3,358 2,968 3,771 2, ,975 2,014 1,255 In exchange for other securities , , U.S. Government accounts Commercial and Federal banks Reserve 2/ banks 2/ , , Source* Ra^ed 7/8# on Bonds ox.h script 11/15/0207 ion and allotment reports, i ' ' 1 offerings see Table FD04. 1/ Excludes 11/2# Treasury notes issued in exchange to holders of nonmarketable 23/4# Treasury bonds. Investment Series B / Includes trust funds and accounts that comprise Government accounts under the unified budget concept. 2/ Includes trust companies and stock savings banks. y Includes partnerships and personal trust accounts. 2/ Exclusive of banks and insurance companies. 1,307 1, ,176 1,234 1,168 1,385 1,156 1, ,001 1,276 1,249 1, , r 589 1,426 1, ,189 1,313 1,434 1,014 1,793 l,790p 649p 525 Individuals u Q p 72p?? Insurance companies p 15p Mutual savings banks p I6p 1 Corporations 2/ p 159p I64 Private pension and retirement funds p 21p 20 State and local governments 6/ Pension and retirement funds IP 194p 7 Other funds r p 6p 7 Dealers and brokers 775 1, , , , p 784p 499 All other 2/ , r , ,002 6/ Consists of trust, sinking, and investment fuu'is w* i > local governments and their agencies. 2/ 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 agenc ies. 8/ Reouening of earlier issue. * Less than $500,000. r Revised, p Preliminary.

59 March PUBLIC DEBT OPERATIONS, Table PDO6. Allotments by Investor Classes on Subscriptions for Public Marketable Securities Part B. Bills Other than Regular Weekly Series (In millions of dollars) Date of f mancing Date of maturity Average rate (Percent) Oneyear series amount issued 9month series 1 / Tax anticipation series 52week series U.S. Government accounts and Federal Reserve banks 2/ Allotments by investor classes Commercial banks Corporations 2/ Dealers and brokers All other y 7/31/72 8/31/72 9/30/72 10/31/72 11/24/72 11/30/72 12/5/72 12/31/72 1/31/73 2/28/73 3/31/73 4/30/73 5/31/73 6/30/73 7/31/73 8/15/73 8/28/73 9/^5/73 10/9/73 10/23/73 11/1/73 11/20/73 11/30/73 12/18/73 1/15/74 2/12/74 3/4/74 3/12/74 3/29/74 4/9/74 5/7/74 6/4/74 7/2/74 7/30/74 8/7/74 8/27/74 9/24/74 10/22/74 11/4/74 11/19/74 12/3/74 12/5/74 12/17/74 1/14/75 2/11/75 3/11/75 4/8/75 5/6/75 6/3/75 7/1/75 7/29/75 8/26/75 9/23/75 10/21/75 11/18/75 12/16/75 1/13/76 2/10/76 1/5/76 Footnotes at end of table. f 4/30/ t 7/31/ , J 5/31/ * \ 8/28/ , j 6/30/ L 9/25/ , J 7/31/ * ^10/23/73 5.3*18 1, /20/ ,012 1, /20/ , /22/ ,510 2, /18/ , /15/ , /12/ , /12/ , /9/ , /7/ , /4/ , /2/ , /19/ ,017 1, /27/ , /24/ , /30/ ,804 6/ 1, /22/ , /19/ ,007 1, /19/ , f 4/19/ ,002 5/ ^ 6/21/ ,000 1, /17/ , /14/ , * /11/ , /19/ ,516 2/ 1, /11/ , /21/ ,523 5/ 2, /8/ , /6/ , /3/ , /1/ , /29/ , /20/ ,502 1,438 «, /26/ , /23/ ; /21/ , /19/ ,501 Z/ /18/ , /16/ , , /17/ , /16/ , /13/ , /10/ , /9/ , /6/ , /4/ , /1/ , /29/ , /27/ , /24/ , , /21/ , , /19/ , , /15/ , , /14/ , /11/ , /8/ , ^ 3/8/ , ,

60 52 Treasury Bulletin, PUBLIC DEBT OPERATIONS. Date of financing Table PDO6. Allotments by Investor Classes on Subscriptions for Public Marketable Securities Date of maturity Average rate Part B. Bills Other than Regular Weekly Series Continued (Percent) Oneyear series (In millions of dollars) amount issued 9month series 1/ Tax anticipation series 52week series U.S. Government accounts and Federal Reserve banks 2/ Allotments by investor classes Commercial banks Corporations 2/ Dealers and brokers 4/6/76 4/5/ , , /4/76 5/3/ , , /1/76 5/31/ , , /29/76 6/28/ , , /27/76 7/26/ , , /24/76 8/23/ , , /21/76 9/20/ , , /19/76 10/18/ , /15/76 11/15/ , , /14/76 12/31/ , , /11/77 1/10/ , /8/77 2/7/ , /8/77 3/7/ , , /5/ 7 4/4/ , ,134 5/3/77 5/2/ , /31/77 5/30/ , , /28/77 e/27/ , /26/77 7/25/ , fi/23/7/ 8/77/ , A /20/77 9/19/ , r 6 1, r 10/18/77 10A7/ , r r 11/15/77 11/14/ , r 24 1, r 12/13/77 12/12/ , Z7r 41 l,227r 662r 1/10/78 2/7/78 1/9/79 2/6/ ,205 3, , All other 4/ on subscription and allotment reports. Foi jltail offerings see Table PDO4. 1/ Reopening of oneyear series. 2/ Includes trust funds and accounts that comprise Government accounts under the unified budget concept. 2/ Exclusive of banks and insurance companies. j/ jxioiuded with all other investors are certain Government, dejju^iu < counts and Governmentsponsored agencies, formerly included with Government investment accounts. 5/ Reopening of earlier issue. 6/ 42week issue. 2/ Special issue. * Less than $500,000. r Revised.

61 March 1978.PUBLIC DEBT OPERATIONS. 53 Date of refunding or retirement 7/31/73 8/15/73 8/28/73 9/19/73 9/25/73 10/1/73 10/23/73 11/15/73 w m 1 A 5/74 2A 2/74 2/15/74 3A2/74 4/1/74 4/9/74 4A9/74 5/7/74 5/15/74 6/4/74 6/21/74 7/2/74 7/30/74 8/15/74 8/27/74 9/20/74 9/24/74 9/30/74 10/22/74 11/15/74 11/19/74 12A7/74 12/31/74 1 /14/75 2/15/75 2/11/75 3/11/75 4/8/75 4/16/75 5/6/75 Footnotes at r4.8# Bill ^5.223# Bill f81/8# Note 4$ Bond 5.178# Bill 9.803# Bill 5.529# Bill 11/2# Note 5. il8# Bill 41/8# Bond 5.225# BUI 5.337# Bill # Bill 73/4# Note 41/8# Bond 6.616# Bill 11/2# Note 6.598# Bill f 6.765# Bill ( 7.830# Bill (^7.452# Bill 6.818# Bill f 71/4# Note t 41/4# Bond 7.235# Bill f7.790# Bill t 8.306# Bill 8.392# Bill 7.702# Bill 55/8# Note 8.387# Bill 9.652# Bill 8.057# Bill Table PDO7. Disposition of Public Marketable Securities Other than Regular Weekly Treasury Bills Called or maturing seeurrt'ps 1/ Description Note 7.132# Bill ( 53/4# Note 37/8# Bond 7.708# Bill 6.880# Bill 57/8# Note 6.948# Bill f 53/4# Note \57/8# Note 6.342# Bill 6.897# Bill.Bill >Note 7.887# Bill 7.426# Bill 8.442# Bill end of table. 7/31/73 7/31/73 8/15/73B 8/15/73 8/28/73 9/19/73 9/25/73 10/1/73E0 10/23/73 11/15/73 11/20/73 12/18/73 1/15/74 2/12/74 2/15/74C 2/15/74 3/12/74 4/1/74EA 4/9/74 4A9/74 4A9/74 4/19/74 5/7/74 5/15/74D 5/15/74 6/4/74 6/21/74 6/21/74 7/2/74 7/30/74 8/15/74B 8/27/74 9/20/74 9/24/74 9/30/74E 10/22/74 ll/l 5/74A 11/15/74 11/19/74 12/17/74 12/31/74F 1/L4/75 2/15/75A 2/15/75E 2/11/75 3/11/75 3/31/75FPB 4/1/75EA 4/8/75 4/16/75 5/6/75 Issue date 7/31/72 7/31/72 2/15/70 9/15/63 8/31/72 8/15/73 9/30/72 10/1/68 10/31/72 7/22/64 11/30/72 12/31/72 1/31/73 2/28/73 8/15/70 1/15/65 3/31/73 4/1/69 4/30/73 11/1/73 11/1/73 11/1/73 5/31/73 11/15/70 5/15/64 6/30/73 11/30/73 11/30/73 7/31/73 10/9/73 8/15/68 8/28/73 8/7/74 9/25/73 10/19/72 10/23/73 11/15/67 12/2/57 11/20/73 12/18/73 12/28/72 1A5/74 2A5/68 10/22/71 2/12/74 3/12/74 & 4/ 4/9/74 12/3/74 5/7/74 (Dollar amounts m millions) Disposition offers by Treasury Amount outstanding 1, ,839 3,894 Cash retirement 1,20fl 501/ 1,514} 3,166 1,803 1,803 2,017 2,017 2/ 1,801 1, ,802 4,336 1,802 1, ,802 3,760 1,802 1,800 1,804 1,804 1,801 1,801 2,960 2,466 2,621 1,902 1,790 1, , ,802 2,007 1,002 1,516 2,00ft 1,002}2 / 1,51^/ *1,800 1,800 4,334 2,847 3,335 2,328 1, ,801 2,000 2,00ft 2,523 2,522/2/ 1,802 1,802 1,804 1,804 10/284 4,401 1,804 1,804 1,526 1,526 2/ 1,802 1,802 2,060 1,855 1,802 1,802 5,442 1,213 3,238 1,071 1,801 1, ,803 1,803 2,102 1,802 4,015 1,222 2,025 1,802 2,886 1,104 1,802 1,80? 1,801 1,801 ^soi 8 1, , , ,801 2,2512/ Exchange security offered 325 U 728 5/ 576 6/ 342 3/ 542 1/ 999 2/ / 5,883 11/ / 2, / / 77 1 ^ 1,129 16/ ^ Results of exchange offers Exchanged Turned in for cash 2/ Description of new securities offered (See also Table PDO4)

62 54 Treasury Bulletin Date of refunding or retirement PTTRT.TO DEBT OPERATIONS Table PDO7. Disposition of Public Marketable Securities Other than Regular Weekly Treasury Bills Continued (Dollar amounts in millions) Called or maturing securities 1 / Disposition offers Results of exby Treasury change offers Amount Description Issue outstanding Cash Exchange Turned date retirement offered cash security Exchanged in for 2/ 5/15/75 6% Note 5/15/75B 5/15/68 6,760 2,597 4,163 1 / ( 57/8# Note 5/15/75F 4/3/72 1,776 1, / 6/3/75 ^ 8.249$ Bill 6/3/75 6/4/74 1,802 1,802 6/17/ # Bill 6/17/75 12/5/74 1,256 1,256 2/ 6/30/ # Bill 6/30/75 9/4/74 2,003 2,003 7/1/ # Bill 7/1/75 7/2/74 1,802 1,802 7/29/ # Bill 7/29/75 7/30/74 1,806 1,806 8/15/75 57/8# Note 8/15/75 C 2/15/71 7,679 5,092 2,587 20/ 8/26/ # Bill 8/26/75 8/8/75 1,000 1,000 8/26/ # Bill 8/26/75 8/27/74 1,803 1,803 9/18/ # Bill 9/18/75 9/5/ /23/ # Bill 9/23/75 9/24/74 1,803 1,803 9/25/ # Bill 9/25/75 9/5/ /30/75 83/8# Note 9/30/75E 8/24/73 2,043 2, / 10/1/75 11/2# Note 10/1/75E0 10/1/ /21/ # Bill 10/23/75 10/22/74 2,003 2,003 13/15/75 7# Note 13/15/75D 8/15/71 3,115 2, / 11/18/ # Bill 11/18/75 11/19/74 2,002 2,002 12/16/ # Bill 12/16/75 12/17/74 2,001 2,001 12/18/ # Bill 12/18/75 12/8/ /26/ # Bill 12/26/75 12/8/ /31/75 7# Note 12/31/75H 11/15/73 1,731 1, J/ 1/13/ # Bill 1/33/76 3/14/75 2,001 2,001 3/31/ # Bill 3/31/76 4/14/75 1,586 1,586 2/10/ # Bill 2/10/76 2/13/75 2,103 2,3j03 2/15/76 61/4# Note 2/15/76A 2/15/69 3,739 1,165 2,522 24/ 2/15/76 57/8# Note 2/15/76F 8/15/72 4,945 3,713 1,232 25/ 3/9/ # Bill 3/9/76 3/11/75 2,102 2,102. 3/31/76 8# Note 3/31/76H 4/9/74 2,288 2, / 4/1/76 11/2# Note 4/1/76EA 4/1/ /6/ # Bill 4/6/76 4/8/75 2,205 2,205 4/22/ # Bill 4/22/76 12/5/75 2,002 2,002 4/22/ # Bill 4/22/76 4/8/76 2,503 2,503 5/4/ # Bill 5/4/76 5/6/75 2,435 2,435 5/15/76 63/2# Note 5/15/76 B 5/15/69 2,697 2, / 5/15/76 53/4# Note 5/15/76E 2/15/72 2,802 2, / 5/31/76 6# Note 5/31/76m 3/25/72 1,580 1, / 6/1/ # Bill 6/L/76 6/3/76 2,404 2,404 6/29/ # Bill 6/29/76 7/1/75 2,5 2,5 6/30/76 83/4# Note 6/30/761 5/15/74 2,703 2, / 7/27/ # Bill 7/27/76 7/29/75 2,293 2,293 8A5/76 71/2# Note 8/15/76C 10/1/69 4,194 3,434 1, / 8/15/76 61/2# Note 8/15/76G 2/15/73 3,883 2,216 1,667.22/ 8/24/ # Bill 8/24/76 8/26/75 2,893 2,893 8/31/76 57/8# Note 8/31/76L 3/3/75 1,662 1, / 9/21/ # Bill 9/21/76 9/23/75 2,860 2,860 9/30/76 8I/4# Note ' 9/30/76J 9/30/74 2,023 1, / 10/1/76 11/2# Note 10/1 /76ISO 10/1/ /l9/ # Bill 10/19/76 IO/2I/75 3,062 10/31/76 3,062 61/2# Note 11/15/76 1, # Bill 10/31/760 6/6/75 1, / 11/15/76 n/18/75 3,245 11/15/76 3,245 6I/4# Note 11/15/76D 9/8/71 4,325 4, / 11/30/76 71/8# Note II/30/76N 4/8/75 1,507 1, / z z 12/14/ # Bill 12/14/76 12A6/76 3,253 3,253 12/31/76 7V4# Note 1/13/ # Bill 12/31/76K 1/11/77 j 12/31/74 2,282 2, / 1/L3/75 3,069 3,069 Description of new securities offered (See also Table PD04)

63 March 19J8 55 PUBLIC DEBT OPERATIONS Pio+ JJa.ue A ox A'f* refunding or retirement Table PDO7. Disposition of Public Marketable Securities Other than Regular Weekly Treasury Bills Continued (Dollar amounts in millions) Called or maturing securities 1/ Disposition offers Results of exby Treasury change offers Description of new Amount Description Issue outstanding security Exchanged in for (See also Table PDO4) Cash Exchange Tumed securities offered date retirement offered cash 2/ 2/8/ # Bill 2/8/77 2/10/76 2,930 2,930 2/15/77 8# Note 2/15/77A 2/15/70 5,163 2,5 2,572.22/ 2/28/77 6# Note 2/28/77F 3/3/75 1,665 1, iq/ 3/8/ # Bill 3/8/77 3/9/76 3,105 3,105 3/31/77 61/2# Note 3/31/77G 3/31/75 2,576 2, il/ 4/1/77 11/2# Note 4/1/77EA 4/1/ /5/ # Bill 4/5/77 4/6/76 3,203 3,203 4/30/77 73/8# Note 4/30/77H 4/30/75 1,579 1, i2/ 5/3/ # Bill 5/3/77 5/4/76 3,335 3,335 5/15/77 67/8# Note 5/15/77C 2/15/74 2,565 2, i2/ 5/15/77 9# Note 5/15/77D 8/15/74 5,329 2,333 2,996 ^ / 5/31/ # Bill 5/31/77 6/1/76 2,921 2,921 5/31/77 63/4# Note 5/31/771 5/27/75 2,137 1, l / 6/28/ # Bill 6/28/77 6/29/76 2,612 2,612 6/30/77 61/2# Note 6/30/77J 6/30/75 2,170 1, / 7/26/77 5,739# Bill 7/26/77 7/27/76 2,977 2,977 7/31/77 71/2# Note 7/31/77K 7/31/75 1,516 1, / S/15/77 73/4# Note 8/15/77B 4,8 3, / 8/23/ # Bill 8/23/77 $$8 2,953 2,2? 8/31/77 81/4# Note 8/31/77L 8/29/75 2,021 1, / 9/20/ # Bill 9/20/77 9/21/76 2,7 2,7 9/30/77 83/8# Note 9/30/77M 9/30/75 3,226 3, / 10/1/77 11/2# Note 10/1/77E0 10/1/ /18/ # Bill 10/18/77 LO/19/76 3,095 3,095 10/31/77 71/2# Note 10/31/77N 10/31/75 3,156 2, / 11/15/77 73/4# Note ll/15/77e Ll/15/74 3,630 2,392 1,238 52/ 11/15/ # Bill 11/15/77 Ll/15/76 3,402 3,402 11/30/77 65/8# Note ll/30/77q 3/3/76 2,628 2, / 12/13/ # Bill 12A3/77 L2/14/76 3,505 3,505 12/31/77 71/4# Note 12/31/77P L2/31/75 2,765 2, / 1/10/ # Bill 1/10/78 1/11/77 3,071 3,071 1/31/78 63/8# Note l/31/78j 2/2/76 2,511 2, / 2/7/ # Bill 2/7/78 2/8/77 3,105 3,105 2/15/78 6I/4# Note 2/15/7SA 2/15/71 ^,389 5,418 2,971 56/ 2/28/78 8# Note 2/28/78G 10/7/75 2, P 53 52/ >n11u>i * on iollowing page.

64 56 PUBLIC DEBT OPERATIONS. Treasury Bulletin Source Bureau of the Public Debt. 1/ Original call and maturity dates are used. 2/ All by investors other than Federal Reserve banks. 2/ Tax anticipation issue: for detail of offerings beginning August 1974, see Table PDO4; for amounts redeemed for taxes and for cash see "Note" below. i j Exchanged by Federal Reserve banks and Government accounts for $233 million of 73/4$ notes of Series B1977 and $92 million of 71/2$ bonds of issued August 15, / Exchanged by Federal Reserve banks and Government accounts for $495 million of 73/4$ notes of Series B1977 and $233 million of 71/2% bonds of issued August 15, / Exchanged by Federal Reserve banks and Government accounts for $220 million of 7$ notes of Series C1979, $220 million of 7% notes of Series H1975 and $136 million of 71/2$ bonds of issued November 15, / Exchanged by Federal Reserve banks and Government accounts for $307 million of 67/8$ notes of Series C1977, $25 million of 7$ notes of Series A1981 issued February 15, 1974, and $10 million of 71/2$ bonds of issued February 28, / Exchanged by Federal Reserve banks and Government accounts for $302 mi11a on of 7$ notes of Series A1981 issued February 15, 1974, and $240 million of 71/2$ bonds of issued February 28, / Exchanged by Federal Reserve banks and Government accounts for $656 million of 83/4$ notes of Series and $343 million of 83/4$ notes of Series C1978 issued May 15, / Exchanged by Federal Reserve banks and Government accounts for $240 million of 83/4$ notes of Series C1978 and $279 million of 81/2$ bonds of issued May 15, / Exchanged by Federal Reserve banks and Government accounts for $2,936 million of 9$ notes of Series D1977, $2,461 million of 9$ notes of Series B1980 and $486 million of 81/2$ bonds of issued August 15, / Exchanged by Federal Reserve banks and Government accounts for 81/4$ notes of Series J1976 issued September 30, / Exchanged by Federal Reserve banks and Government accounts for $1,059 million of 73/4$ notes of Series E1977, $949 million of 73/4$ notes of Series B1981 and $196 million of 81/2$ bonds of issued November 15, L/ Exchanged by Federal Reserve banks and Government accounts for 81/2$ bonds of issued November 15, / Exchanged by Federal Reserve banks and Government accounts for 7l/4$ notes of Series K1976 issued December 31, / Exchanged by Federal Reserve banks and Government accounts for $692 million of 71/8$ notes of Series D1978, $400 million of 73/8$ notes of Series C1981 and $36 million of 77/8$ bonds of issued February 18, / Exchanged by Federal Reserve banks and Government accounts for $4 million of 71/8$ notes of Series D1978 and $114 million of 77/8$ bonds of issued February 18, / Exchanged by Federal Reserve banks and Government accounts for $2,300 million of 75/8$ notes of Series E1978, $1,233 million of 8$ notes of Series A1982 and $630 million of 81/4$ bonds of issued May 15, / Exchanged by Federal Reserve banks and Government accounts for 81/4$ bonds of issued May 15, / Exchanged by Federal Reserve banks and Government accounts for $1,372 million of 77/8$ notes of Series F1978, $902 million of 81/8$ notes of Series B1982 and $313 million of 83/8$ bonds of issued August 15, 197*. 21/ Exchanged by Federal Reserve banks and Government accounts foi 3 'H nntpg ot' >ptmes M1977 issued September / Exchanged by Federal > uorvi> tanks and Government accounts for $384 million oi /'VW t.pa<^s o19ana $1^0 million of 83/8$ bonds of 199'WOOO Mov^mbPr 17, / Exchanged by Federal neserve banks and Government accounts for 71/4$ notes of Series P1977 issued December 31, / Exchanged by Federal Reserve banks and Government accounts for $368 million of 7$ notes of Series H1979, $1,939 million of 8$ notes of Series A1983 and $21*5 million of 81/4$ bonds of i^rsued February 17, Exchanged by Federal Reserve banks and Government ac ' i+t for 7$ n,mp=5 nt c^eraes H19^ issued hebmarv I >6/ Exchanged by Federal Reserve oanks and Government at 01 rti, lor 63/4$ notes of Series K1978 issued March 31, / Exchanged by Federal Reserve banks and Government accounts for $276 million of 77/8$ notes of Series A1986 issued 5/17/76 and $8f>million of 77/8$ bondo of 199^2000. Footnotes to Table PDO7 28/ Exchanged by Federal Reserve banks ana Government accounts for $300 million of 61/2$ notes of Series L1978 and $196 million of 77/8$ notes of Series A1986, and $32 million of 77/8$ honds of issued May 17, / Exchanged by Federal Reserve banks and Government accounts for 71/8$ notes of Series M1978 issued June 1, / Exchanged by Federal Reserve banks and Government accounts for 67/8$ notes of Series N1978 issued June 30, / Exchanged by Federal Reserve banks and Government accounts for $700 million of 67/8$ notes of Series J1979, $60 million of 8$ notes of Series BI986,and $342 million of 8$ bonds of issued August 16, / Exchanged by Federal Reserve banks and Government accounts for $1,417 million of 8$ notes of Series B1986 and $250 million of 8$ bonds of issued August 16, / Exchanged by Federal Reserve banks and Government accounts for 65/8$ notes of Series Q1978 issued August 31, / Exchanged by Federal Reserve banks and Government accounts for 61/4$ notes of Series R1978 issued September 30, / Exchanged by Federal Reserve banks and Government accounts for 57/8$ notes of Series S1978 issued November 1, / Exchanged by Federal Reserve banks and Government accounts for $70 million of 6l/4$ notes of Series K1979 and $50 million of 7$ notes of Series B1983 issued November 15, / Exchanged by Federal Reserve banks and Government accounts for 53/4$ notes of Series T1978 issued November 30, / Exchanged by Federal Reserve banks and Government accounts for 51/4$ notes of Series U1978 issued December 31, / Exchanged by Federal Reserve banks and Government accounts for $1,300 million of 61/2$ notes of Series G1980, $881 million of 71/4$ notes of Series A1984 and $3 million of 75/8$ bonds of issued February 15, / Exchanged by Federal Reserve banks and Government accounts for 57/8$ notes of Series M1979 issued February 28, / Exchanged by Federal Reserve banks and Government accounts for 6$ notes of Series N1979 issued March 31, / Exchanged by Federal Reserve banks and Government accounts for 57/8$ notes of Series P1979 issued May 2, / Exchanged by Federal Reserve banks and Government accounts for 75/8$ bonds of issued May 16, / Exchanged by Federal Reserve banks and Government accounts for $2,623 million of 71/4$ notes of Series A1984 and $373 million of 75/8$ bonds of issued May 16, / Exchanged by Federal Reserve banks and Government accounts for 61/8$ notet of.series Q197Q i3sued May 31, / Exchanged by Federal Reserve Banks and Government accounts for 61/8$ notes oi beries KJ.9/9 1 fasued June 30, / Exchanged by Federal Reserve banks and Government accounts for 61//'$ notes of Series S1979 issued August 1, / Exchanged by Federal Reserve banks and Government accounts for $425 million of 63/4$ notes of Series B1980, $300 million of 71/4$ notes of Series B1984, and $199 million of 75/8$ bonds of issued August 15, / Exchanged by Federal Reserve banks and Government accounts for 65/8$ notes of Series Tln7? ^ssued August 31, / Exchanged by Federal Reserve banks and Government accounts for 65/8$ notes of Series U1979 issued September 30, / Exchanged by Federal Reserve banks and Government accounts for 71/4$ notes of Series V1979 issued October 31, / Exchanged by Federal Reserve banks and Government accounts for $625 million of 71/8$ notes of Series J1980, $373 million of 75/8$ notes of Series A1987, and $240 million of 77/8$ bonds of issued November 15, / Exchanged by Federal Reserve banks and Government accounts for 71/8$ notes of Series W1979 issued November 30, l l J Ex^ ianged by Federal Reserve banks and Government cu.counts for 71/2$, of Serieb X197H issued January 3, / Exchanged by Federal Reserve banks and Government accounts for 7 1/2$ rioter of* Series K1980 issued rvn r / Exchanged by Federal Reserve banks and Government accounts tor $1,000 million of 71/2$ notes of SeriesM1981, $1,200 million of 8$ notes of Series A1985 and $771 millionof 8l/4$ bonds of issued February 15, / Exchanged by Federal Reserve banks and Government accounts for 75/8$ notes of Series LI98O. Note Information an retirement of tax anticipation issues referred to in footnote 3, in millions of dollars: Date of retirement Securities amount retired Redeemed for taxes Redeemed for cash 9/20/74 Bill 1, ,124 4/16/75 Bill 2,251 I84 2,067 6/17/75 Bill 1,

65 March 1978 PUBLIC DEBT OPERATIONS June. Month of activity Table PDO8. Foreign Series Securities (Nonmarketable) Issued to Official Institutions of Foreign Countries (Payable in U.S. dollars; dollar amounts in millions) / Certificates of indebtedness Notes Issue date Maturity date Interest Amount rate (Percent) Issued Retired C 3/05/75 6/05/ { 3/17/75 6/19/ V. 6/05/75 12/04/ /02/74 6/02/ /06/74 6/05/ /03/75 6/03/ /03/75 6/03/ /12/75 6/12/ /13/75 6/13/ /13/75 6/13/ /18/75 6/18/ /19/75 6/19/ /19/75 6/19/ /19/75 6/19/ /27/75 6/27/ /01/75 7/01/ /01/75 7/01/ /02/75 7/02/ /07/75 7/07/ /07/75 7/07/ h 4/08/75 7/08/ /29/75 7/29/ / 5/06/75 8/06/ \ 3 5/06/75 8/06/ /06/75 8/06/ /06/75 8/06/ /06/75 8/06/ /12/75 8/12/ /12/75 8/12/ /14/75 8/14/ /15/75 8/14/ /15/75 8/15/ /20/75 8/20/ /23/75 8/22/ /23/75 8/22/ /23/75 8/22/ /27/75 8/27/ /27/75 8/27/ /27/75 8/27/ /27/75 8/27/ /27/75 8/27/ /27/75 8/27/ /27/75 8/27/ /27/75 8/27/ /27/75 8/27/ /27/75 8/27/ /03/75 9/03/ /03/75 9/03/ /03/75 9/03/ /03/75 9/03/ /03/75 9/03/ /12/75 9/12/ /13/75 9/12/ /13/75 9/15/ /18/75 9/18/ /19/75 9/19/ /27/75 9/27/ /27/75 9/27/ f 6/25/71 6/25/ /05/75 6/04/ ) 6/19/75 4/19/ /19/75 5/19/ /19/75 6/20/ /25/75 6/25/ /09/75 7/10/ /15/75 7/17/ /17/75 7/17/75 4/17/75 7/17/75 4/21/75 7/24/ \ 7/10/75 10/09/ /10/75 1/08/ /17/75 10/16/75 7/17/75 10/16/ /24/75 10/23/ * 1/09/75 7/10/ /28/75 7/29/ /06/75 9/04/ /08/75 7/08/ /10/75 7/10/ /17/75 7/17/ /24/75 7/24/ /28/75 7/28/ /28/75 7/28/ /30/75 7/30/ /02/75 8/01/ /05/75 8/05/ /05/75 8/05/ /06/75 8/06/ /07/75 8/07/ outstanding end of month 21,617

66 58 PUBLIC DEBT OPERATIONS. Treasury Bulletin 1975July. Aug. Month of activity Sept. Table PDO8. Foreign Series Securities (Nonmarketable) Issued to Official Institutions of Foreign Countries Continued (Payable m U.S. dollars; dollar amounts in millions) Certificates of indebtedness Certificates of indebtedness Certificates of indebtedness Issue date Maturity date Interest rate (Percent) Amount Issued Retired outstanding end of month 5/07/75 8/07/ /09/75 8/08/ /09/75 8/08/ /12/75 8/12/ > 20,604 5/12/75 8/12/ /13/75 8/13/ < 5/15/75 8/15/ /15/75 8/14/ /20/75 8/20/ /20/75 8/20/ /20/75 8/20/ /23/75 8/22/ /27/75 8/27/ /27/75 8/27/ /27/75 8/27/ /27/75 8/27/ /12/75 9/12/ /13/75 9/12/ /18/75 9/18/ /19/75 9/19/ /10/75 10/10/ /10/75 10/10/ /17/75 10/16/ /24/75 10/24/ /29/75 10/28/ w 7/29/75 1/27/ f 7/07/71 7/07/ /14/71 7/14/ < 7/07/75 7/07/ ] 7/14/75 7/14/ L 7/17/75 7/18/ f 5/15/75 8/14/ /14/75 11/13/ /06/75 9/04/ /05/75 8/05/ /07/75 8/07/ /14/75 8/14/ /14/75 8/14/ /14/75 8/14/ /14/75 8/14/ /14/75 8/14/ J 6/13/75 9/15/ \ 6/13/75 9/15/ / 19,952 6/13/75 9/15/ /05/75 11/05/ /07/75 11/07/ /14/75 11/14/ /14/75 11/14/ /14/75 11/14/ /14/75 11/14/ /14/75 11/14/ f 5/23/74 8/28/ < 8/28/75 9/30/ ^ 8/28/75 10/31/ /5/75 9/4/ /6/75 9/4/ > 19,869 9/4/75 9/5/ < 4/24/75 10/23/ /30/75 10/30/ /10/75 10/09/ /17/75 10/16/ /17/75 10/16/75 7/24/75 10/23/ /29/75 10/28/ /09/75 3/08/ /09/75 4/08/ /16/75 3/15/ /16/75 3/15/ /23/75 3/22/ /30/75 3/29/ /17/75 10/17/ /24/75 10/24/ Certificates of indebtedness 25 l IQ 7/29/75 10/28/ \ 10/17/75 3/16/ /24/75 3/23/ /27/74 10/02/ /25/74 10/30/ /02/75 13/30/ < 10/02/75 12/33/ /02/75 2/28/ /30/75 3/31/ /30/75 4/30/

67 March 1978 PUBLIC DEBT OPERATIONS. 59 Month of activity Table PDO8. Foreign Series Securities (Nonmarketable) Issued to Official Institutions of Foreign Countries Continued (Payable in U.S. dollars; dollar amounts in millions) Securities Issu e date Maturity date Interest rate (percent) Issued Amount Retired outstanding end of month N s f 8/14/75 11/13/ Sills \ 11/13/75 2/13/ f 8/05/75 13/05/ /07/75 11/07/ /14/75 11/14/ /14/75 11/14/ /14/75 11/14/ /14/75 11/14/ Nov... Certificates of indebtedness 8/14/75 11/14/ > 19,684 11/05/75 2/05/ /07/75 2/06/ /14/75 2/13/ /14/75 2/13/ /14/75 2/13/ /14/75 2/13/ /14/75 2/13/ r 8/22/74 11/28/ Notes / 11/28/75 6/30/ \ 11/28/75 7/31/ L 11/28/75 10/31/ Bills f 3/05/75 12/16/ J 6/05/75 12/04/75 87 \ 12/04/75 3/04/76 40 L 12/04/75 6/03/76 47 f 10/17/75 1/16/ /24/75 1/23/ /05/75 2/05/ /07/75 2/06/ /14/75 2/13/ /14/75 2/13/ /14/75 2/13/ Dec... / Certificates of indebtedness 11/14/75 2/13/ { 11/14/75 2/13/ /02/75 1/16/ > 19,966 12/02/75 1/23/ /02/75 2/05/ /02/75 2/06/ /02/75 2/13/ /02/75 3/16/ /02/75 1/23/ /30/75 2/13/ /30/75 2/13/ Notes r 9/19/74 12/18/ ) 12/16/75 12/16/ \ 12/18/75 5/15/ I 12/18/75 8/15/ ( 7/10/75 3/08/ /09/75 3/08/76 41 s 10/16/75 3/15/ /16/75 1/15/ /23/75 1/22/ /28/75 3/29/ /30/75 1/29/76 80 <, 1/08/76 2/05/76 40 Bi3 Is 1/08/76 5/06/ /08/76 7/08/ /15/76 4/15/ /15/76 4/15/ > 20, J an... Certificates of indebtedness 1/22/76 4/22/ /27/76 2/26/76 40 ^ 1/29/76 2/26/ / 7/29/75 1/27/ < 12/02/75 1/23/ ^ 12/02/75 2/05/ Notes r 10/24/74 1/29/ J 1/29/76 10/31/ \ 1/29/76 8/15/ , 1/29/76, 11/15/ Bills < 11/13/75 2/13/ /08/76 2/05/ /27/76 2/26/ /27/76 2/26/ /05/76 3/04/76 40 " 2/13/76 5/13/ /26/76 3/25/ /26/76 6/24/76 60 " 2/26/76 7/29/76 60

68 60.PUBLIC DEBT OPERATIONS Treasury Bulletin Month of activity Table PDO8. Foreign Series Securities (Nonmarketable) Issued to Official Institutions of Foreign Countries Continued (Payable in U.S. dollars; dollar amounts in millions) Issue date Maturity date Interest rate (percent) outstanding end of month 1976Feb. Apr. Certificates of indebtedness Certificates of indebtedness Certificates of indebtedness 12/02/75 12/02/75 12/02/75 12/30/75 12/30/75 2/05/76 2/05/76 2/06/76 2/13/76 2/13/76 2/13/76 2/13/76 2/13/76 2/13/76 9/04/75 2/26/76 3/04/76 3/04/76 3/25/76 2/05/76 2/13/76 2/13/76 2/13/76 2/13/76 3/09/76 3/16/76 3/18/76 3/19/76 7/19/72 3/22/76 10/09/75 1/15/76 1/15/76 1/22/76 4/08/76 4/15/76 4/15/76 2/06/76 2/06/76 3/09/76 3/16/76 3/18/76 4/01/76 2/05/76 2/06/76 2/13/76 2/13/76 2/13/76 5/05/76 5/05/76 5/05/76 5/13/76 5/13/76 5/13/76 5/13/76 5/13/76 5/13/76 3/04/76 3/25/76 8/05/76 9/02/76 12/14/76 5/05/76 5/13/76 5/13/76 5/13/76 5/13/76 6/09/76 6/16/76 6/18/76 6/18/76 3/22/76 2/15/83 4/08/76 4/15/76 4/15/76 4/22/76 10/07/76 10/14/76 7/15/76 5/06/76 5/06/76 6/09/76 6/16/76 6/18/76 1/31/ ,090 20,070 20,013 May. Bills Certificates of indebtedness > 19,6 July. Bills \ Certificates of indebtedness Notes "Bills Certificates of indebtedness 12/04/76 1/08/76 2/26/76 6/03/76 5/13/76 6/25/71 6/25/76 6/28/76 2/26/76 4/15/76 7/15/76 7/29/76 5/13/76 5/13/76 7/07/71 7/07/76 7/14/76 6/03/76 7/08/76 6/24/76 12/02/76 8/13/76 6/25/76 11/15/82 3/31/78 7/29/76 7/15/76 10/14/76 8/26/76 8/13/76 8/13/76 7/07/76 7/14/76 I» 8/15/ > 19,901

69 March 1978 PUBLIC DEBT OPERATIONS 61 Month of activity Table PDO8. Foreign Series Securities (Nonmarketable) Issued to Official Institutions of Foreig n Countries Continued (Payable in U.S. dollars; dollar amounts in millions) Issue date Maturity date Interest rate (percent) outstanding end of month Bills 3/4/76 7/29/76 8/5/76 8/26/76 8/5/76 8/26/76 9/2/76 9/30/ Aug. Certificates of indebtedness 5/13/76 5/13/76 5/13/76 8/13/76 8/13/76 8/13/76 8/13/76 8/13/76 11/12/76 11/12/ ,368 Sept. Bills Certificates of indebtedness 8/28/75 8/28/75 10/2/75 10/2/75 3/04/76 8/05/76 9/02/76 8/13/76 8/13/76 8/6/76 8/9/76 8/9/76 8/10/76 9/02/76 9/02/76 9/30/76 9/21/76 9/24/ ,215 Oct. Certificates of indebtedness Bills ( Certificates of indebtedness Notes Bills 3A5/72 9/15/76 4/08/76 4/15/76 7/15/76 10/07/76 10/14/76 10/14/76 10/14/76 8/13/76 8/13/76 10/01/76 10/29/76 10/29/76 10/29/76 10/29/76 10/01/76 10/28/76 10/29/76 10/29/76 10/29/76 10/29/76 10/29/76 10/29/76 10/29/76 10/29/76 5/06/76 5/13/76 11/04/76 11/12/76 10/29/76 10/30/75 11/04/76 11/12/76 3/25/76 6/03/76 12/02/76 12/09/76 12/14/76 12/28/76 9/15/76 2A5/81 10/07/76 10/14/76 10/14/76 1/06/77 4/14/77 1/13/77 1/13/77 11/12/76 11/12/76 12/09/76 1/28/77 4/29/77 7/29/77 10/28/77 9/30/78 8/15/81 1/30/78 4/28/78 9/28/78 10/30/78 1/29/79 4/30/79 7/30/79 10/29/79 11/04/76 11/12/76 2/03/77 5/12/77 11/12/76 1/28/77 3/31/77 11/15/81 11/15/81 12/14/76 12/02/76 6/02/77 3/10/77 4/14/77 3/31/ ,6 20,908 Certificates of indebtedness Notes Bills Certificates of indebtedness 10/01/76 12/09/ /29/76 1/28/ /01/76 3/31/ /29/75 12/28/ /30/75 4/30/ /07/76 1/06/77 1/06/77 6/09/77 10/29/76 1/28/ /31/76 3/31/ ,689 Notes 5/29/75 1/28/ /28/77 5/15/

70 62 PUBLIC DEBT OPERATIONS, Treasury Bulletin MOIiGXi OX activity Table PDO8. Foreign Series Securities (Nonmarketable) Issued to Official Institutions of Foreign Countries Continued (Payable in U.S. dollars; dollar amounts in millions) Securities date Ma.*turity date Interest Amount rate (percent) Issued Retired outstanding end of month 1977Feb... r Bills Certificates of indebtedness Notes Bills { 11/04/76 2/03/77 2/23/77 10/29/76 5/29/75 10/02/75 2/28/77 12/09/76 12/28/76 2/23/77 2/03/77 5/05/77 5/26/77 4/29/77 2/28/77 2/28/77 8/15/80 3/10/77 3/31/77 5/26/ { 300 { > l 20,575 Mar...., Certificates of indebtedness 10/29/76 4/29/ ,617 ( 7/19/72 3/22/ /15/72 3/15/7^ /27/75 3/25/ /10/77 3/31/ Notes 3/15/77 3/31/ /22/77 2/15/ /25/77 11/15/ /31/77 12/31/ Apr.... Bills /Certificates of indebtedness Notes Bonds Bills May,... /certificates of indebtedness Notes June... ( Notes July > 10/14/76 12/14/76 2/23/77 4/14/77 4/14/77 { \ ( 1 4/14/77 4/14/77 5/26/77 10/13/77 10/13/ /29/76 4/29/ /27/75 4/27/ /19/75 4/19/ /27/77 8/15/ /19/77 2/15/ /12/76 2/03/77 2/23/77 5/05/77 5/12/77 5/26/77 5/12/77 5/05/77 5/26/77 8/04/77 11/10/77 8/25/77 ^ 20, \ 10/29/76 7/29/ r 20,423 1/09/75 5/27/75 6/19/75 5/16/77 5/19/77 5/27/77 12/02/76 1/06/77 5/26/77 6/02/77 6/09/77 5/15/77 5/27/77 5/19/77 1/31/79 2/15/82 2/15/83 6/02/77 6/09/77 8/25/77 12/01/77 9/08/ Bills ( 43 Certificates of indebtedness 10/29/76 7/29/ < 6/26/72 6/05/75 6/19/75 11/28/75 6/03/77 6/20/77 6/27/77 6/30/77 6/30/77 6/27/77 6/04/77 6/20/77 6/30/77 3/31/81 11/15/83 5/15/81 4/30/79 11/15/ Bonds 6/27/77 8/15/ Certificates of indebtedness 10/29/76 7/29/ /20/77 10/20/ /21/77 10/21/ /26/77 10/26/ ( 7/28/77 10/28/ Notes 7/07/72 7/07/ /14/72 7/14/ /15/73 7/15/ /17/75 7/18/ /28/75 7/31/ < 7/07/77 11/15/ /14/77 11/15/ /15/77 2/15/ /18/77 12/31/ > j ^ 20,357 20,197

71 March 19 J 8 63.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; dollar amounts in millions) Issue date Maturity date Interest rate (percent) Issued Amount Retired f Bills ( outstanding end of month 1977Aug. Sept 'Certificates of Indebtedness. < ( Notes ) \ r pills 43 < (Certificates of Indebtedness ( J Notes \ ^ ** f Bills / \ L f Certificates of indebtedness I Notes L V f Bills < / ^ ( / Certificates of Indebtedness ( I > Notes I f \ Bills > /Certificates of Indebtedness < y b Notes 30 < ^ ,055 20,510 19,861 20,455 21,018

72 64 PUBLIC DEBT OPERATIONS. Treasury Bulletin Month of activity T able PDO8. Foreign Series S ecurities (Nonm arketable) Issued to O fficia l In stitu tion s o f Foreign C ountries C ontinued (Payable in U.S. dollars; dollar amounts in millions) Issue date Maturity date Interest rate (percent) Amount outstanding end of month 1978Jan., (Bills Certificates of Indebtedness Notes / Certificates of Indebtedness 11/28/77 10/05/77 10/06/77 10/14/77 10/17/77 10/24/77 10/26/77 1/03/78 1/05/78 1/06/78 1/09/78 1/10/78 1/12/78 1/13/78 1/16/78 1/17/78 1/24/78 1/25/78 1/26/78 1/26/78 lof/w /76 11/28/77 1/04/78 1/06/78 1/06/78 1/06/78 1/31/78 1/31/78 8/04/77 2/02/78 11/02/77 U / 14/77 11/22/77 11/25/77 2/01/78 2/02/78 2/14/78 2A4/78 2/16/78 2/16/78 2/17/78 2/21/78 2/21/78 2/22/78 2/23/78 2/24/78 2/24/78 2/27/78 2/28/78 6/28/76 10/29/76 12/19/77 1/04/78 1/06/78 1/03/78 1/13/78 1/17/78 1/24/78 1/26/78 4/03/78 4/05/78 4/06/78 4/10/78 4A0/78 4/12/78 4/13/78 4/17/78 4/17/78 4/24/78 4/25/78 4/26/78 4/26/78 1/31/78 3/31/78 1/31/78 2/28/78 1/31/78 11/30/79 12/31/79 2/02/78 8/03/78 2/02/78 2/14/78 2/22/78 2/24/78 5/02/78 5/02/78 5/16/78 5/16/78 5/16/78 5/16/78 5/17/78 5/22/78 5/22/78 5/22/78 5/23/78 5/24/78 5/24/78 5/26/78.5/29/78 3/31/78 4/28/78 2/28/78 3/31/7 8 2/28/ , ,80 8, > 21,659 21,510 Source: Bureau of the Public Debt. * Less thin $500,000.

73 March PUBLIC DEBT OPERATIONS. Table PDO9. Foreign Currency Series Securities (Nonmarketable) Issued to Official Institutions of Foreign Countries Month of activity Payable in (Dollar amounts m millions) Issue date Maturity date Interest rate (percent) Amount (Dollar equivalent) Retired outstanding end of month 1972July. Aug.. { Certificates of indebtedness Notes Certificates of indebtedness / Swiss francs ^ Swiss francs German marks f Swiss francs \ Swiss francs 1/21/72 7/21/72 7/3/67 2/4/72 8/4/72 7/21/72 1/19/73 7/3/72 8/4/72 2/2/ ,999 2,000 Sept, r Swiss francs \ Swiss francs 6/1/71 9/1/72 9/1/72 11/30/ ,001 Oct.. f German marks / Swiss francs 1 Swiss francs 4/1/68 7/6/71 10/6/72 10/2/72 10/6/72 1/7/ ,850 Nov.. CSwiss francs Swiss francs N Swiss francs v.swiss francs 8/6/71 8/19/71 11/6/72 11/20/74 11/6/72 11/20/72 2/6/74 2/20/ ,852 f German marks I Swiss francs / Swiss francs Swiss francs Swiss francs 6/24/68 9/10/71 9/13/71 12/11/72 12/13/72 12/22/72 12/11/72 12/13/72 3/11/74 3/13/ , Jan., Certificates oi indebtedness f Swiss francs \ Swiss francs C Swiss francs / Swiss francs \ Swiss francs V,Swiss francs 7/21/72 1/19/73 10/8/71 10/29/71 1/8/73 1/29/73 1/19/73 7/19/73 1/8/73 1/29/73 4/8/74 4/29/ ,713 Feb., Mar.. Apr. July. Aug. Oct. Nov. 1974Jan, I Certificates of indebtedness Notes Notes Certificates of* indebtedness 2/ Notes 2/ Notes Certificates of indebtedness Certificates of indebtedness Notes Notes Certificates of indebtedness Notes 1 Swiss francs ^ Swiss francs 8/4/72 2/2/73 2/2/73 8/2/ German marks 8/19/69 2/19/ f Swiss francs 12/9/71 3/9/ ^ Swiss francs 3/9/73 6/7/ CSwiss francs \Swiss francs German marks Swiss francs Swiss francs Swiss francs Swiss francs Swiss francs < Swiss francs Swiss francs Swiss francs Swiss francs Swiss francs Swiss francs CSwiss francs ) Swiss francs \ Swiss francs Lswiss francs f Swiss francs \ Swiss francs 1/19/73 2/2/73 10/2/69 8/27/71 5/18/72 5/30/72 9/1/72 10/6/72 11/6/72 11/20/72 12/11/72 12/13/72 1/8/73 1/29/73 1/5/72 1/17/72 4/5/73 4/17/73 1/19/73 7/19/73 7/39/73 8/2/73 10/2/73 8/27/73 8/20/73 8/30/73 11/30/73 3/7/74 2/6/74 2/20/74 3/11/74 3/13/74 4/8/74 4/29/74 4/5/73 4A7/73 7/5/74 7/17/74 7/19/73 1/18/ Swiss francs 2/2/73 8/2/ [Swiss francs Swiss francs J Swiss francs ( Swiss francs JSwiss francs Swiss francs j^swiss francs 8/27/71 5/18/72 5/30/72 8/2/73 8/20/73 8/27/73 8/30/73 8/27/73 8/20/73 8/30/73 11/1/74 13/20/74 11/27/74 11/29/ German marks 3/3/72 10/2/ Swiss francs \Swiss francs j Swiss francs tswiss francs /Swiss francs \Swiss francs 9/1/72 11/30/73 7/19/73 1/18/74 10/6/72 1/7/74 11/30/73 2/28/75 1/18/74 7/18/74 1/7/74 4/7/ / , > 1,743 1,746 1, ,588 Footnotes at end of table.

74 66 PUBLIC DEBT OPERATIONS Table PDO9. Foreign Currency Series Securities <Nonmarketable) Issued to Official Institutions of Foreign Countries Continued Treasury Bulletin Month of activity (Dollar amounts in millions) Payable in Issue date Maturity date Interest rate (percent) Issued Amount (Dollar equivalent) outstanding end of month 1974Feb. Notes f Swiss francs I Swiss francs \ Swiss francs L.Swiss francs 13/06/72 2/06/ /20/72 2/20/ /06/74 5/06/ /20/74 5/20/ ,589 f Swiss francs J Swiss francs \ Swiss francs V*Swiss francs / ,597 Apr. July. 1975Jan. Notes Certificates of indebtedness Notes I Certificates of indebtedness Notes Swiss francs Swiss francs? Swiss francs / Swiss francs \ Swiss francs V,Swiss francs Swiss francs Swiss francs Swiss francs Swiss francs Swiss francs Swiss francs Swiss francs Swiss francs Swiss francs Swiss francs Swiss francs Swiss francs /18/74 1/20/ /20/75 4/20/ /30/73 2/28/ /28/75 5/28/ ^ 1, Apr. May. Notes Swiss francs Swiss francs { Swiss francs Swiss francs Swiss francs Swiss francs 1/7, 74 4/7/ '7/75 7/7/ /06/74 5/06/ /20/74 5/20/ /06/75 8/06/ /20/75 8/20/ Joly, Sept, Oct. Nov., 1976Feb. Mar. Notes Notes 'Swiss francs Swiss francs Swiss francs Swiss francs ^Swiss francs Swiss francs Swiss francs Swiss francs Swiss francs Swiss francs Swiss francs [Swiss francs Swiss francs Swiss francs <. Swiss francs Swiss francs ^Swiss francs Swiss francs Swiss francs Swiss francs Swiss francs Swiss francs 3/11/74 6/11/ /13/74 6/13/ /11/75 9/10/ /11/75 12/10/ /13/75 6/14/ /08/74 7/08/ /29/74 7/29/ /08/75 10/08/ /29/75 10/29/ /7/74 9/8/ /8/75 3/8/ /05/74 10/06/ /17/74 10/17/ /06/75 4/06/ /17/75 4/18/ /27/74 11/26/ /26/75 5/26/ /03/74 2/02/ /20/74 2/20/ /02/76 8/02/ /20/76 8/19/ /29/74 3/01/ /01/76 9/01/

75 March 19 J 8 67.PUBLIC DEBT OPERATIONS. Table PDO9. Foreign Currency Series Securities (Nonmarketable) Issued to Official Institutions of Foreign Countries Continued Month of activity Payable in (Dollar amounts in millions) Issue date Maturity date Interest rate (percent) Amount (Dollar equivalent) Retired outstanding end of month 1976Apr. May. June. July. Aug. Sept. Oct.., Nov. Dec. Notes Notes Notes Notes Notes Swiss francs Swiss francs Swiss francs Swiss francs Swiss francs Swiss francs Swiss francs Swiss francs f Swiss francs ) Swiss francs \ Swiss francs V.Swiss francs f Swiss francs Swiss francs Swiss francs Swiss francs Swiss francs.swiss francs Swiss francs j Swiss francs / Swiss francs ISwiss francs 1/20/75 4/20/76 2/28/75 5/28/76 6/13/75 6/14/76 4/07/75 7/07/76 5/6/75 5/20/75 8/20/76 6/11/75 9/10/76 7/38/75 10/8/7o 7/29/75 10/29/76 6/11/75 6/11/75 9/08/75 12/10/76 4/20/76 10/20/77 5/28/76 11/28/77 6/14/76 12/14/77 7/07/76 1/06/78 8/6/76 8/20/76 2/6/78 2/20/7 8 9/10/76 3/10/78 10/8/76 4/07/78 10/29/76 4/28/78 12/10/76 12/10/76 3/08/77 6/09/ , Jan. Feb.. Apr. May.. June., July. Notes Notes Notes Notes Notes Swiss francs Swiss francs I^Swiss francs Swiss francs [Swiss francs (Swiss francs ISwiss francs,swiss francs Swiss francs [Swiss francs iswiss francs Swiss francs Swiss francs 9/08/75 9/08/75 9/08/75 10/06/75 3/08/77 10/06/75 10/17/75 11/26/75 4/18/77 11/26/75 5/26/77 2/02/76 2/02/76 3/08/77 3/08/77 3/08/77 4/06/77 9/08/78 4/06/77 4/18/77 5/26/77 10/18/78 5/26/77 11/27/78 8/02/77 8/02/ Aug.., Sept. iss francs ISwiss francs [Swiss francs ss francs [Swiss francs Swiss francs [Swiss francs 2/02/76 2/20/76 3/01/76 8/19/77 3/01/76 4/20/76 9/01/77 8/02/77 8/19/77 9/09/77 2/20/79 9/01/77 10/20/77 3/01/ oat. Nov. Dec., 1978Jan.. Feb.. Notes Notes Notes Notes Notes JSwiss francs.swiss francs (Swiss francs [Swiss francs ISwiss francs (Swiss francs iswiss francs pwiss francs iswiss francs (Swiss francs Swiss francs Swiss francs iswiss francs 4/20/76 5/28/76 10/20/77 5/28/76 6/14/76 6A4/76 7/07/76 7/07/76 8/06/76 1/06/79 8/06/76 10/20/77 11/28/77 4/20/79 11/28/77 12/14/77 12/14/77 1/06/78 1/06/78 2/06/78 7/06/79 2/06/78 9/10/76 3/10/ Source: Bureau of the Public Debt. 1/ The principal amount of this note was increase^ $1 million to compensate for a lower interest cost than was anticipated when the note was revalued in / Dollar value of securities increased to reflect market exchange rates as of February 12, 1973.

76 68 UNITED STATES SAVINGS BONDS, Treasury Bulletin Series E and Series H are the only savings bonds currently sold. Series E has been on sale since May 1, 1941, and Series H has been on sale since J,une 1, Series A D were sold from March 1, 1935 through April 30, Series F and G were sold from May 1, 1941 through April 20, Series J and K were sold from May 1, 1952 through April 30, Details of the principal changes in issues* interest yields, maturities, and other terms appear in the Treasury Bulletins of April 1951, May 1952, May 1957, October and December 1959, May and October 1961, June 1968, and September 1970; and the Annual Report of the Secretary of the Treasury for fiscal years, 1966 through Series AD 2/.. Series E and H. Series F and G. Series J and K. AK... Series Sales 1/ Table SB1. Sales and Redemptions by Series, Cumulative through February 28>1978 3, ,612 28,396 3,556 Accrued discount 1,054 53,267 1, (In millions of dollars) Sales plus accrued discount 5, ,879 29,521 3,754 Redemptions 1/ 5, ,464 29,506 3,750 Interestbearing debt 77, ,512 55,645 2, ,721 77,415 Amount outstanding Matured noninterestbearing debt 14 3 Footnotes at end of Table SB4. Table SB2. Sales and Redemptions by Periods, All Series Combined (In millions of dollars) Redemptions 1/ Amount outstanding Period Sales 1/ Accrued discount Sales plus accrued discount Sales price 2/ Accrued discount 2/ Interestbearing debt Matured noninterestbearing debt Fiscal years: ,417 29, , , ,011 15,769 51, ,550 1,789 6,338 6,339 5,237 1,102 51, ,449 1,841 6,2 6,748 5,508 1,240 51, ,082 2,056 7,138 5,425 4,342 1,083 53, ,940 2,310 8,249 5,338 4,306 1,032 55, ,514 2,564 9,078 5,586 4,494 1,092 59, ,429 2,749 9,178 6,681 5,366 1,314 61, ,826 3,252 10,078 6,519 5,173 1,346 65, ,293 3,496 10,790 6,543 5,133 1,409 69, T.Q... 1, ,735 1,717 1, , ,895 3,827 11,722 7,064 5,495 1,567 75, Calendar years: ,959 28, , , ,313 15,225 51, ,696 1,759 6,455 6,133 5,094 1,040 51, ,393 1,832 6,224 6,639 5,457 1, 51, ,665 1,909 6,574 6,295 5,072 1,223 51, ,477 2,192 7,669 5,244 4,224 1,021 54, ,236 2,426 8,662 5,365 4,322 1,043 57, ,270 2,673 8,943 6,211 4,945 1,266 60, ,862 2,994 9,856 6,829 5,476 1,354 63, ,038 3,368 10,406 6,292 4,959 1,332 67, ,555 3,597 11,152 6,771 5,288 1,483 71, ,954 3,0 Months. 11,863 7,110 5,520 1, Feb , Mar , , Apr... « ,011 5, , May , , June , July , Aug , , Oct , Nov, , Deo , Jan , , Feb , , Footnotes at end of Table SB4.

77 March UNITED STATES SAVINGS BONDS Table SB3. Sales and Redemptions by Periods, Series E through K (In millions of dollars) Redemptions 1/ Sales plus Period Sales 1/ Accrued discount accrued discount Sales price 1/ Series E and H Combined Accrued discount 2/ Interestbearing debt Amount outstanding Matured noninterestbearing debt Fiscal years: ,517 26, , , ,195 13,531 51, ,550 1,788 6,337 6,198 5,112 1,086 51, *... 4,449 1,841 6,2 6,721 5,484 1,237 51, ,082 2,056 7,138 5,416 4,334 1,082 53, ,939 2,310 8,249 5,331 4,294 1,037 55, ,514 2,564 9,078 5,581 4,490 1,0 59, ,429 2,749 9,178 6,675 5,361 1,314 61, ,826 3,252 10,078 6,517 5,172 1,345 65, ,293 3,496 10,790 6,539 5,130 1,409 69,733 T.Q... 1, ,735 1,715 1, , ,895 3,827 11,722 7,063 5,495 1,567 75,411 Calendar years: ,059 25,0 162, ,617 98,640 12,978 51, ,696 1,757 6,452 5,5 4,898 1,017 51, ,393 1,832 6,224 6,565 5,3 1,173 51, ,665 1,909 6,574 6,281 5,060 1,221 51, ,477 2,192 7,669 5,237 4,217 1,020 54, ,236 2,426 8,662 5,359 4,311 1,049 57,579» ,270 2,673 8,943 6,206 4,972 1,234 60, ,862 2,994 9,856 6,824 5,471 1,353 63, ,038 3,368 10,406 6,290 4,959 1,331 67, ,555 3,597 11,152 6,762 5,281 1,481 71, ,954 3,0 11,863 7,114 5,524 1,5 76,602 Months: 1977Feb ,640 Mar , S ,037 Apr , ,457 May , ,908 June ,282 July ,803 Aug , , ,4H Oct , , , Jan , ,987 Feb , ,415 Series F, G, J, and K combined i j Fiscal years: ,951 1,322 33,273 33,059 31,763 1, * * 20 T.Q * * 18 Calendar,xears: ,951 1,321 33,272 39,925 31,643 1, H e * * * * Months: 1977Feb... * * * 13 Mar May June July " 18 Oct Nov Deo... * * * Jan... * * * 18 Feb... " * * * 18 Footnotes at end of Table SB4.

78 70 Treasury Bulletin Period Sales 1/ TTNrrp.rt STATES SAVINGS Rnwns Table SB3. Sales and Redemptions by Periods, Series E through K Continued (In millions of dollars) Accrued discount Redemptions 1/ Sales plus accrued discount Sales price 2/ Accrued discount 2/ Exchange of E bonds for H bonds Amount outstanding (interestbearing debt) Series E il^scai, sears: ,173 26, , ,331 96,800 13,531 1,818 43, ,343 1,788 6,131 5,548 4,462 1,086 I ,205 4,289 1,841 6,130 5,959 4,722 1, , ,870 2,056 6,926 4,959 3,877 1, , ,650 2,310 7,960 4,972 3,932 1, , ,190 2,564 8,755 5,209 4,118 1, , ,145 2,749 8,894 6,156 4,842 1, ,234 6,503 3,252 9,755 6,063 4,717 1, , ,975 3,496 10,471 6,114 4,705 1, ,648 T.Q... 1, ,663 1,611 1, , ,576 3,827 11,403 6,638 5,070 1, ,073 Calendar years: ,851 25,0 152, ,540 94,567 12,978 1,717 43, ,452 1,757 6,209 5,300 4,283 1, , ,221 1,832 6,052 5,835 4,661 1, ,259 4,503 1,909 6,412 5,626 4,405 1, , ,218 2,192 7,411 4,871 3,851 1, , ,922 2,426 8,348 5,007 3,958 1, , ,988 2,673 8,661 5,740 4,507 1, , ,524 2,994 9,518 6,318 4,965 1, , ,729 3,368 10,097 5,886 4,555 1, , ,245 3,597 10,841 6,336 4,855 1, , ,638 3,0 11,548 6,686 5,095 1, ,235 Months: 1^77^'eb Mar , ' 28 64,790 Apr May , ,624 June ,984 July ,490 66,729 67,073 67,472 Aug Sept Oct Nov ,869 Dec , Jan , , ,000 55i ,026 Fiscal years: T.Q Calendar years: 10, , , , , ,766 7,506 7,114 7,101 7,323 7,612 7,686 7,865 8,084 8,131 8, Months; 1977Fe b Mar..., Apr..., May June..., July..., Aug... Sept... Oct... Nov... Dec Ja n Feb... 10, , , ? 4, , ,848 7,668 7,290 7,025 7,167 7,458 7,594 7,736 7,966 8,177 8,368 8,225 8,247 8,263 8,284 8,298 8,312 8,330 8,338 I J l 8,368 8,379 8,389 Footnotes at end of Table SB4.

79 March UNITED STATES SAVINGS BONDS Table SB4. * Redemptions of Matured and Unmatured Savings Bonds Period (In millions of dollars) Matured Series E and H Other Unmatured Series E and H Other Unclassified 10/ Fiscal years: ,184 35,180 18,678 J.6,502 42,004 33,189 8, ,273 2,250 1, / 2,951 2, ,164 2,057 1, ,088 2, ,346 2,184 1, ,284 3, ,724 2,253 1, ,300 3, ,922 2,471 2, ,351 3, ,982 2,548 2, ,401 3, ,339 2,560 2, ,566 3, ,748 2,792 2, ,842 3, ,425 2,490 2, ,660 3, ,338 2,043 2, ,317 3, ,586 2,126 2, ,393 3, ,681 2,729 2, ,847 3, ,517 2,544 2, ,776 3, ,543 2,820 2, ,772 3,772 T.Q... 1, ,064 3, ,487 3,487 Calendar years: ,399 33,560 17,872 15,818 43,899 34,116 9, ,602 2,387 1, /2/ 3,002 2, ,021 2,043 *> / 3,031 2, ,252 2,171 1, ,157 3, ,441 2,148 1, ,287 3, ,000 2,472 2, ,384 3, ,793 2,386 2, ,413 3, ,133 2,652 2, ,455 3, ,639 2,686 2, ,726 3, ,295 2,841 2, ,885 3, ,244 2,022 2, ,305 3, ,365 2,053 2, ,337 3, ,210 2,508 2, ,578 3, ,833 2,627 2, ,789 3, ,2 2,481 2,481 * 3,955 3, ,771 3,275 3, ,487 3, ,110 2,556 2, ,553 4,553 Months;,.977Feb * Mar Apr * May.' & * July Oct Dfe * Jan n.a. n.a. *»%a. n.a. Feb n.a. n.a. * n.a. n.a...ource: Monthly Statement of the Public Debt of the U.S., Office of Market Analysis, United States Savings Bonds Division. 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. 1/ Sales and redemption figures include exchanges of minor amounts of (1) matured Series E bonds for Series G and K bonds from May 1951 through April 1957j (2) Series F and.j bonds for Series H bonds beginning January 1960; and (3) U.S. savings notes for Series H bonds beginning January 1972; however, they exclude exchanges of Series E bonds for Series H bonds, which are reported in Table SB3. 2/ Details by series on a cumulative basis and by periods of Series AD combined will be found in the February 1952 and previous issues of the Treasury Bulletin. 2/ 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 1961 the 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 revised on this basis. Series F and G sales were discontinued April 30, 1952, and Series J and K sales were discontinued April 30, Sales figures after April 30, 1957, represent adjustments. 5/ Includes exchanges of Series 1941 F and G savings bonds for 3*l/4% marketable bonds of / Includes exchanges of Series 1948 F and G bonds for 43/4$ marketable notes of / Includes exchanges of Series 1949 F and G bonds for l& marketable bonds of / Includes exchanges of Series I960 F and G bonds for 37/8% marketable bonds for / Includes exchanges of Series 1951 and 1952 F and G bonds far 37/8% marketable bonds of 1971 and 4% marketable bonds of / Represents changes in the amounts of redemptions not yet classified between matured and unmatured issues. * Less than $500,000. n.a. Not available.

80 72.UNITED STATES SAVINGS NOTES. Treasury Bulletin United States savings notes were on sale May 1, 1967 through June 30, 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 Treasury Bulletins of March 1967 and June 1968; and in the Annual Report of the Secretary of the Treasury for fiscal year 1974* Table SN1. Sales and Redemptions by Periods Period Sales 1/ Accrued discount (In millions of dollars) Sales plus accrued discount Redemptions 2/ Sales price Accrued discount jjiscajl years: * * * 201 * * * * * * T.Q... * Calendar years: * * * * * * * * Months: 1977Feb Mar Apr June July Aug Sept Oct Nov Dec Jan Feb... i Source: Monthly Statement of the Public Debt of the United States; Office of Market Analysis, Waited States Savings Bonds Division. 1/ Sales were discontinued after June 30, Figures shown thereafter represent adjustments. Amount outstanding / Includes U. S, savings notes exchanged for Series H bonds beginning January * Less than $500,000.

81 M arch OWWF.HSHTP OF FEDERAL SKCITTRTTTF.S Table OFSi. Distribution of Fedval Securities by Classes of Investors and Types of Issues End of fiscal year or month Federal securities outstanding (In millions of dollars) Interestbearing public debt securities Held by U.S. Government accounts Nonmarketable outstanding Marketable Government account series Other Public issues held by Federal Reserve banks 367, ,729 84,815 16,007 66,738 2,071 54, , ,026 95,170 16,974 76,124 2,071 57, , , ,888 18,092 82,740 2,056 65, , , ,460 19,868 89,536 2,056 71, , , ,385 20, ,248 2,056 75, , , ,206 21, ,9a 2,056 80, , , ,283 20, ,752 2,056 84, , , ,611 18, ,202 2,056 94, , , ,105 16, ,409 2,056 96, , , ,490 14, ,816 2, ,7151/ 1976Mar , , ,067 19, ,901 2,056 89, , , ,107 16, ,688 2,056 ^,134 Feb , , ,437 15, ,593 2,056 95,837 Mar , , ,949 15, ,106 2,056 95, , , ,503 15, ,9 2,056 99,837 May , , ,435 15, ,945 2,056 97, , , ,204 15, ,724 2, ,239 July , , ,744 15, ,263 2,056 98, , , ,860 14, ,095 2,056 98, , , ,490 14, ,816 2, ,715 1/ 707, , ,194 14, ,590 2,056 94,597 Nov , , ,888 14, ,317 2,056 96,477 Dec , , ,849 14, ,363 2, , ', , ,480 14, ,021 2,056 97,003 End of fiscal year or month Interestbearing public debt securities Con. Held by private investors Marketable Nonmarketable Matured public debt and debt bearing no interest 2/ outstanding 2/ Agency securities Held by U.S. Government accounts and Federal Reserve banks Held by private investors 212, ,006 56,814 1,166 14,249 2,846 11, , ,1 58,231 1,068 12,510 2,553 9, , ,863 66,020 1,016 12,163 2,251 9,1 242, ,978 76,566 1,076 10,894 2,170 8, , ,869 90, ,109 2,156 8, , ,862 89, ,012 2,152 9, , ,382,708 1,067 10,943 2,186 8, , ,782 95,415 1,179 10,953 2,223 8,730 3, ,595 96,433 1,142 11,678 2,222 9, , , ,750 1,211 10,298 2,094 8, Mar , ,434 93,971 1,267 10,961 2,224 8, , , , ,945 <J,048 J, , , ,064 1,028 10,932 2,052 8, , , , ,934 2,053 8, , , ,469 2,514 10,883 2,054 8,829 May , , ,510 1,151 10,856 2,056 8, , , ,461 1,036 10,824 2,264 8, , , ,818 2,478 10,728 2,203 8,525 Ancr , , ,784 1,093 10,312 2,095 8, , , ,750 1,211 10,298 2,094 8, , , ,220 1,102 10,290 2,092 8,198 JJOY 456, , , ,260 2,085 8,175 Dec , , ,880 3,716 10,221 2,026 8, , , ,707 1,032 10,226 2,025 8,201 Note: The ExportImport Bank was moved within the Budget effective October 1, 1976 pursuant to Public Law Adjustments are made classified as agency debt. These transactions were previously reporte as offbudget negative outlays. to include totals for the period it was outside the Budget (August 1/ Includes a nonmarketable Federal Reserve special certificate for $2, , 1971 through September 30, 1976). Also, adjustments are made 2/ Adjusted to exclude noninterestbearing notes issued to the Interto reflect certain ExportImport Bank borrowing transactions now national Monetary Fund to reflect the unified budget concept. 2/ For detail, see Table FD6.

82 74.OWNERSHIP OF FEDERAL SECURITIES. Treasury Bulletin End of month 1939Dec.., 1946Feb.., Dec.., 1950June., Dec June., Dec.., 1952June., Dec.., 1953June., Dec.., 1954June., 1955Jane.* ] Dec.., 1956June., 1957June! 1 Dec.., 1958June.. Dec June., Dec.., 1960June.. Dec June., Dec.., 1962June., Dec June.. Dec June., Dec June., Dec June.. Dec.., 1967June., Dec.., 1968June.. Dec.., 1969June., Dec.., 1970June., Dec.., 1971June., Dec.., 1972June., Dec.., 1973June., Dec.., 1974June., Dec June., Dec Jan.., Feb... Mar... Apr.., May.., June., July., Aug... Sept.. Oct... Nov... Dec Jan... Feb... Mar... Apr... May... June.. July.. Aug... Sept., Oct.., Nov... Deo,.., 1978Jan. p. privately held Table OFS2. Estimated Ownership of Public Debt Securities by Private Investors Commercial banks 2/ (Par values 1/ xn billions of dollars) Individuals 1/ Savings bonds Series E and H Other series 7/ Source: Office of Government Financing in the Office of the Secretary. 1/ United States savings bonds, Series AF and J, are included at current redemption value. Z/ Consists of commercial banks, trust companies, and stock savings 6/ banks in the United States and in Territories and island possessions. Figures exclude securities held in trust departments. 2/ Includes partnerships and personal trust accounts. Exclusive of banks and insurance companies. 1/ Consists of the investments of foreign balances and international Other securities Nonbank investors Insurance companies Mutual savings banks Corporations j*/ State and local governments Foreign and international 5/ Other investors 6/ * Or r r Or Or lr r r r r r r accounts in the United States. Holdings have been adjusted to exclude issues to the International Monetary Fund and other international lending organizations to reflect the unified budget concept. 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 1, 1967 and were discontinued after June 30, Preliminary. r Revised.

83 March 1978 TR E A SU R Y SURVEY OF OWNERSHIP, JANUARY 31, The monthly Treasury Survey of Ownership covers securities issued by the United States Government, Federal agencies, Federallysponsored agencies, and the District of Columbia. The banks and insurance companies included in the Survey currently account for about 80 percent of all such securities held by these institutions..the similar proportion for corporations and for savings and loan associations is 50 percent, and for State and local governments, 40 percent. Data were first published for banks and insurance companies in the May 1941 Treasury Bulletin, for corporations and savings and loan associations in the September I960 Bulletin, and for State and local governments in the February 1962 Bulletin. Holdings by commercial banks distributed according tu Federal Reserve member bank classes and nonmember banks are published for June 30 and December 31. Holdings by corporate pension trust funds are published quarterly, first appearing in the March 1954 Bulletin. Classification U.S. Government ac amount counts and outstanding 1/ Reserve Federal banks Table TSOl.Summary of Federal Securities (Par values in millions of dollars) private investors Public debt issues: ibteyeavfreqrlftg debt securities: Marketable ,780 m ,374 i j , * ,707 Held by private investors covered in Treasury Survey 5,489 commer mutual 465 Insurance companies 486 State and local savings 436 governments cial savings and loan corporations 311 banks banks 289 associations 2J Z/ life general funds 439 fire, casualty, and marine 185 pension and retirement funds All other private investors 2/ 73,965 4,279 3,747 8,419 4,942 9,965 11,592 3, ,885 Nonmarketable 116,707 interestbearing public debt securities , , ,081 73,965 4,279 3,747 8,419 4,942 9,965 11,592 3, ,592 Matured debt anddebt. ]2 &r.ing no... 1,032 1,032 1,032 public debt , ,112 73,965 4,279 3,747 8,419 4,942 9,965 11,592 3, ,624 igss&b.: Regular issues.... / T L ,223 Participation certificates Jj/... 3,993 1,675 2, Government agency securities covered in Treasury Survey... 8,310 1,1 6, ,6 Nonsurveyed Government agency securities... 1,6 U4 1,802 Government agency securities 6 /... 10,226 2,025 8,200 Federal securities , , , to Footnotes at end of Table TS05.

84 76.TREASURY SURVEY OF OWNERSHIP, JANUARY 31, Table TSO2. InterestBearing Marketable Public Debt Securities by Type and Maturity Distribution Treasury Bulletin Classification amount outstanding 1/ U.S. Government accounts and Federal Reserve banks (Par values in millions of dollars) 5,489 commercial banks 2/ Held by investors covered in Treasury Surve'ST Insurance companies mutual savings 439 fire, savings 289 and loan banks casualty, life and associations / marine 436 corporations State and local governments 311 general funds 185 pension and retirement funds By tyne security: Issued by U.S. Government: Treasury bills ,221 37,106 9, ,439 5, , ,077 55,441 62,084 3,482 1,327 6,470 3,830 5,022 4,973 1, ,281 48,483 18,860 2, ,303 1, ,240 1,950 19, , ,407 73,965 4,279 3,747 8,419 4,942 9,965 11,592 3, ,885 By fflajto.itx^strib^uqfi; Call classes (due or first becoming callable): 5 to 10 years Maturity classes (final maturity): Held by all other investors y 233,476 54,155 27,311 1, ,735 2,367 5,932 7, ,4 156,195 32,504 39,254 2, ,784 2,396 3,345 3, ,102 45,8 13,112 6, , ,169 8,786 3, ,476 12,403 4, ,933 10,003 3, , , ,407 73,965 4,279 3,747 8,419 4,942 9,965 11,592 3, , , ,195 45,319 8,508 5,863 19,721 53,533 32,504 12,606 2,454 2,184 8,126 27,207 39,254 6, ,2 2, , ,407 73,965 4,279 3,747 8,419 4,942 9,965 11,592 3, , ,670 3,784 2, ,334 2, ,0 3, ,066 3, , ,045 68,102 20,788 3,684 2,863 8,403 Footnotes at end of Table TSO5. Table TSO3. InterestBearing Marketable Public Debt Securities by Issue Treasury Bills; Regular weekly and annual maturing: Feb Mar Apr May June July Aug Sept Oct Nov. Dec Jan Treasury Bills... Treasury Notes: 61/4 Feb. 1978A... 8 Feb. 1978G... 63/4 61/2 Mar. Apr. 1978K L... 71/8 May 1978D... 71/8 May 1978M... 71/8 May 1978F... 67/8 June 1978N... 67/8 July 1978P... 75/8 Aug. 1978E... 83/4 65/8 Aug. Aug. 1978C Q... 61/4 57/8 Sept. 1978R... Oct. 1978S... 53/4 Nov. 1978T... 6 Nov. 1978B... 51/4 Dec. 1978U... Footnotes at end of Table TS05. amount outstanding 1/ U.S. Government accounts and Federal Reserve banks (Par values in millions of dollars) 5,489 commercial banks 2J Held by investors covered in Treasury Survey 465 mutual savings banks 2/ Insurance companies 486 savings 289 life 439 fire, casualty, and rnqr^tifi and loan associations 436 corporations State and local governments 311 general funds 185 pension and retirement funds 26,128 5, , ,017 3, ,190 6, ,036 5,060 1, ,260 5, ,757 4,603 1, , , , ,587 1, ,838 1, * ,205 1, ,221 37,106 9, ,439 5, ,389 3,358 1, , , , * 3, , , ,423 1,540 1, , , , ,155 2,571 1, , , , , * 2, ,207 3,597 1, ,

85 March 1978 TRRASTTRY SURVEY OP OWNERSHIP, JANUARY 31, Issue Table TSO3. InterestBearing Marketable Public Debt Securities by Issue Continued amount outstanding 1/ U.S. Government accounts and Federal Reserve banks (Par values in millions of dollars) Held by investors covered in Treasury Survey 5,489 commercial banks 2/ mutual savings banks 2/ Insurance companies ^b savings 439 fire, 289 and loan casualty, associations life and marine corporations State and local emvammiant.a 311 general funds 185 pension and retirement funds Held by all other investors 2/ Treasury Notes 81/8 Dec. Continued 1978H... 2, , ,113 57/8 Jan. 1979L... 2, , ,375 7 Feb. 1979H... 4,692 1,724 1, ,627 57/8 Feb. 1979M... 2, * ,361 6 Mar. 1979N... 3, ,640 57/8 Apr. 1979P... 1, ,197 77/8 May 1979D... 2, /8 May 1979Q... 2, ,199 73/4 June 1979E... 1, /8 June 1979R... 2, ,308 61/4 July 1979S... 3, ,765 61/4 Aug. 1979A... 4,559 1, ,837 67/8 Aug. 1979J... 2, /8 Aug. 1979T... 3, , ,774 81/2 Sept. 1979F... 2, ,067 65/8 Sept. 1979U... 3, ,269 71/4 Oct. 1979V... 4, , ,459 61/4 Nov. 1979K... 3, , ,522 65/8 Nov. 1979B... 1,604 1, * Nov. 1979C... 2, /8 Nov. 1979W... 4, , ,889 71/2 Dec. 1979G... 2, /8 Dec. 1979X... 3, ,333 71/2 Jan. 1980K... 3, ,681 61/2 Feb. 1980G... 4,608 1,452 1, ,287 71/2 Mar. 1980C... 2, ,075 67/8 May 1980A... 7,265 5, /8 June 1980D... 2, ,009 63/4 Aug. 1980H... 4, , * 2,067 9 Aug. 1980B... 4,296 2, ,128 67/8 Sept. 1980E... 2, /8 Nov. 1980J... 4, ,613 57/8 Dec. 1980F... 2, , ,084 7 Feb. 1981A... 1, /8 Feb. 1981C... 4, , ,748 67/8 lifer. 1981H... 2, ,3 73/8 May 1981D... 2, /4 June 1981J... 2, ,363 75/8 Aug. 1981F... 2, , ,010 63/4 Sept. 1981K... 2, ,663 7 Nov. 1981G... 2, , /4 Nov. 1981B... 4,477 1, ,242 71/4 Dec. 1981L... 3, , ,988 61/8 Feb. 1982D... 2, ,095 7 May 1982E... 2, ,526 8 May 1982A... 2,747 1, /8 Aug. 1982B... 2,8 1, ,074 77/8 Nov. 1982C... 2, ,053 71/8 Nov. 1982F... 2, ,509 8 Feb. 1983A... 7,958 2, ,267 7 Nov. 1983B... 2, ,252 71/4 Feb. 1984A... 8,438 3, ,979 71/4 Aug. 1984B... 2, ,386 77/8 May 1986A... 5, ,867 8 Aug. 1986B... 9,515 1,941 1, ,029 75/8 Nov. 1987A... 2, Exchange Series * 25 Treasury 257,077 55,441 62,084 3,482 1,327 6,470 3,830 5,022 4,973 1, ,281 Treasury 41/4 Bonds: May 19/ , /4 June , Feb , /2 Nov , Aug * /8 Feb ,702 1, ,035 63/8 Aug. 2,353 1, /4 May /8 Nov , * /4 Aug ,900 1, ,250 4 Feb /2 Aug ,4 1, /8 May 1980^ , *eb ,8 56 n ,086 81/4 May , /4 Aug. 1, /4 Feb /8 Feb. 1, ,233 7 May /2 May ,414 1, Feb /8 Feb , * ,722 83/8 Aug ,265 1, Aug , * /2 Nov. 2, ? ,087 81/4 May ,221 1, * H /8 Feb ,249 1,54; ,546 77/8 Nov , Treasury 48,482 18,860 2, ,303 1,039 ' ,240 1,950 19,779 Marketable Securities... Public Debt 466, ,407 73,965 4,279 3,747 8,419 4,942 9,965 11,592 3, ,885 Footnotes at end of Table TS05.

86 78 ^TREASURY SURVEY OF OWNERSHIP, JANUARY 31, Table TSO4. Securities Issued by Government Agencies Treasury Bulletin Issue amount U.S. Govern 5,489 outstanding 1/ counts and ment ac commercial Federal Reserve banks banks 2/ (Par values in millions of dollars) Held by investors covered in Treasury Survey Insurance companies State and local Held by governments all, mutual savings fire, savings 185 other banks casualty, and loan corporations 311 life 2/ and associations funds tirement pension investors 2/ general and re marine funds itortimport.baato Debentures... 1,500 Issues to State & Local Govts. 2/ Federal Housing Administration: 1, * Government National Mortgage Association: 3,743 1, U.S. Postal Service: Tennessee Valiev Authority. Bonds... 1, ,357 Government Agency Securities covered by survey... 8,310 1,1 1, ,6 Footnotes at end of Table TSO5. issue Table TSO5. Securities Issued by GovernmentSponsored Agencies, Farmers Home Administration and the District of Columbia (Par values in millions of dollars) Held by investors covered in Treasury Survey 436 corporations U.S. Govern 5, ment accounts and commer mutual outstanding 1/ Federal cial savings Reserve banks banks banks 2/ 2/ Insurance companies 289 life 439 fire, casualty, and marinp 486 savings and loan associations State and local (TAtraw\Tna,n+ a 311 general funds 185 pension and retirement funds Held by all other investors 2/ Banks for Cooneratives: Debentures... 4, ,640 Farm Credit Mnks: Discount Notes... 1, Consolidated Bonds Farmers Home Administration: Insured Notes... 3, , ,086 Federal Home Loan Banks: Discount Notes... 1, ,352 Bonds... 16,985 2,151 3, ,148 FHLMC Mtg. Backed Certificates & Bonds 8/... 1, Issues to State and Local Govts. 2/8/ FHLB... 20,817 2,151 3, , , ,068 Federal Intermediate Credit. Batiks: Debentures... 11, , ,925 Federal Land Banks: Bonds... 19,498 1,352 3, ,462 Federal National Mortgage Association: Discount Notes... 1, Debentures... 28,100 3,060 5,072 1, , , ,998 Capital Debentures... 1, Mtg. Backed Bonds * 3 3 Issues to State and Local Govts. 2/.« FNMA... 32,024 3,266 6,027 1, , , ,221 District of Columbia: Stadium Bonds * ,174 7,643 18,009 3, ,487 4,596 1,098 5,151 2,233 49,775 1/ Securities issued by the Treasury and Government agencies that are classified at> debt under the unified budget concept. For debt subject to limitation, see Table FD9. 2/ Includes trust departments. 2/ Included with all other investors are those banks, insurance companies, savings and loan associations, corporations, and State and local government funds not reported in the Treasury Survey. Also included are certain Government deposit accounts and Governmentsponsored agencies. U Data on the holdings of nonmarketable Public Debt were no longer collected beginning with July 1974 Treasury Survey of Ownership. 5/ Includes ExportImport Bank and Government National Mortgage Association participation certificates. 6/ Includes matured securities outstanding on which interest has ceased. 2/ Direct placements (mortgagebacked bonds) with State and local governments with various interest rates and maturity dates. '8/ Obligation 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 $500,000.

87 March MARKET QUOTATIONS ON TREASURY SECURITIES, FEBRUARY 28,1978. Current market quotations shown here are overthe counter closing bid quotations in the New York market for the last trading day of the month, as reported to the Treasury by the Federal Reserve Bank of New York. The securities listed include all regularly quoted public marketable securities issued by the United States Treasury. Securities issued by Federal agencies and guaranteed by the United States Government are excluded. Table MQ1. Treasury Bills Amount outstanding (millions) Issue date Bank discount Maturity date 13week 26week 13week 26week Bid Change from last month Amount outstanding (millions) 52week Issue date 52week Maturity date Bid Bank discount Change from last month $2,302 $3,304 12/01/77 9/03/77 3/02/ $ +.20$ $3,208 3/08/77 3/07/ $ +.10$ 2,207 3,203 12/08/77 9/08/77 3/09/ ,342 4/05/77 4/04/ ,311 3,377 12/15/77 9/15/77 3/16/ ,966 5/03/77 5/02/ ,204 3,502 12/22/77 9/22/77 3/23/ ,454 5/31/78 5/30/ ,106 3,302 12/29/77 9/29/77 3/30/ ,253 6/28/77 6/27/ ,206 3,506 3/05/78 10/06/77 4/06/ ,038 7/26/77 7/25/ ,307 3,406 3/12/78 10/13/77 4/13/ ,005 8/23/77 8/22/ ,304 3,403 3/19/78 10/20/77 4/20/ ,036 9/20/77 9/19/ ,306 3,404 3/26/78 10/27/77 4/27/ ,162 10/18/77 10/17/ ,404 3,402 2/02/78 11/03/77 5/04/ ,587 11/15/77 13/14/ ,310 3,407 2/09/78 11/10/77 5/11/ ,838 12/13/77 12/12/ ,324 3,304 2/16/78 11/17/77 5/18/ ,205 1/10/78 3/09/ ,406 3,503 2/23/78 11/25/77 5/25/ ,253 2/07/78 2/06/ ,302 3,501 3/02/78 12/01/77 6/01/ ,403 12/08/77 6/08/ ,405 12/15/77 6/15/ SDeeial Tssne 3,303 12/22/77 6/22/ ,386 12/29/77 6/29/ Bank discount 3,404 1/05/78 7/06/ Amount outstanding Issue Maturity 3,404 3/12/78 7/13/ (millions) date date!ui>yn*kht Mull bxljl^r 3,408 1/19/78 7/20/ Bid Change 3,503 3/26/78 7/27/ ,506 2/02/78 8/03/ ,504 2/09/78 8/10/ ,509 2/16/78 8/17/ ,508 2/23/78 8/24/ $3,004 12/02/77 4/20/ $.09$ 3,501 3/02/78 8/33/ Table MQ2. Treasury Notes Amount outstanding (millions) Description Bid Price Change from last month (Price decimals are 32ds) Yield To maturity Change from las t month Issue date Price range since first traded 3/ High Low Price Date Price Date $3,162 63/4$ 3/33/78K $ +.52$ 3/33/ /03/ /27/76 2,574 61/2 4/30/78L /17/ /03/ /27/76 3,960 73/8 5/15/78D /18/ /03/ /16/75 4,423 77/8 5/15/78F /15/ /03/ /16/75 2,567 73/8 5/33/78M /01/ /03/ /27/76 3,331 67/8 6/30/78N /30/ /03/ /28/76 2,855 67/8 7/33/78P /21/ /03/ /12/78 5,155 75/8 8/15/78E /15/ /03/ /16/75 2,462 83/4 8/15/78C /15/ /05/ /23/74 2,949 65/8 8/31/78G * /31/ /03/ l/l2/78 3,195 61/4 9/30/78R /30/ /10/ /12/78 2,921 57/8 10/31/78S /01/ /10/ /18/77 8, /15/78B /15/ /03/ /23/74 2,941 53/4 11/30/78T /30/ /10/ /19/77 3,376 51/4 12/31/78U /31/ /27/ /18/77 2,517 83/8 12/33/78H /22/ /03/ /15/75 2,855 57/8 1/31/79L /03/ /14/ /10/78 4, /15/79H /17/ /02/ /04/76 2,845 57/8 2/28/79M /28/ /14/ /12/78 3, /31/79N /31/ /14/ /11/78 1,992 57/8 4/30/79P /02/ /20/ /12/78 2,269 77/8 5/15/79D /06/ /02/ /15/75 2,087 61/8 5/31/79Q /31/ /28/ /12/78 2,308 61/8 6/30/79R /30/ /28/ /12/78 1,782 73/4 6/30/79E /09/ /03/ /15/75 3,180 63/4 7/31/79S /01/ /26/ /11/78 4,559 61/4 8/15/79A /15/ /10/ /23/74 2, /8 8/15/79J /16/ /10/ /12/78 3,481 65/8 8/33/79T /31/ /06/ /12/78 3,861 65/8 9/30/79U /30/ /29/ /12/78 2,081 83/2 9/30/79F /04/ /02/ /16/75 4,334 73/4 10/31/79V /31/ /29/ /12/78 3,376 61/4 11/15/79K /15/ /10/ /12/78 1,604 65/8 ll/l5/79=b /15/ /10/ /23/74 2, /15/79C /15/ /10/ /23/74 4,7 73/8 11/30/79W /30/ /30/ /12/78 3,920 73/8 12/31/79X 99, /03/ /04/ /16/78 2,006 71/2 12/31/79G /06/ /02/ /27/76 3,875 71/2 1/31/80K /31/ /01/ /23/78 4,608 61/2 2/15/80G /15/ /04/ /12/78 Footnotes at end of Table MQ3.

88 80 Treasury Bulletin Amount outstanding (millions) $3,800 2,069 7,265 2,185 4,133 4,296 2,141 4,600 2,692 1,842 4,796 2,809 2,020 3, ,586 2,968 2,543 4,477 3,452 2,697 2,835 2,613 2,747 2,8 2,737 2,902 7,958 2,309 8,438 2,863 4,197 5, , /8% 71/2 67/8 75/8 63/4 9 67/8 71/8 57/8 7 73/8 67/8 73/8 71/2 63/4 75/8 63/4 7 73/4 71/4 63/8 77/ /8 71/8 77/ /4 71/4 8 77/8 8 75/8 11/2 11/2 11/2 11/2 11/2 11/2 11/2 11/2 1V2 11/2 Description Footnotes at etid of Table MQ3. Amount outstanding (millions) Description.MARKET QUOTATIONS ON TREASURY SECURITIES, FEBRUARY 28, /29/80L 3/31/80C 5/15/80A 6/30/80D 8/15/80H 8/15/80B 9/30/80E 11/15/80J 12/31/80F 2/15/81A 2/15/81C 3/31/81H 5/15/81D 5/15/81M 6/30/81J 8/15/81F 9/30/81K 11/15/81G 11/15/81B 12/31/81L 2/15/82D 3/31/82G 5/15/82E 5/15/82A 8/15/82B 11/15/82F 11/15/82C 2/15/83A 11/15/83B 2/15/84A 8/15/84B 2/15/85 A 5/15/86B 8/15/86B 11/15/87A 4/1/78EA 10/1/78E0 4/1/79EA 10/1/79E0 4/1/80EA 10/1/80E0 4/1/81EA 10/1/81E0 4/1/82EA 10/1/82E Bid Table MQ2. Treasury Notes Continued Price Change from last month Price ::8i (Price decimals are 32ds) To maturity 7.57$ Change from last month HC Table MQ3. Treasury Bonds Change from last month (Pr To first call or maturity u Yield Change from last month Issue date 2/28/78 3/17/76 5/15/73 6/10/76 8/15/77 8/15/74 8/31/76 11/15/77 11/30/76 2/15/74 2/18/75 3/08/77 1/26/76 2/15/78 6/03/77 7/09/76 9/30/77 10/12/76 11/15/74 12/07/77 1/06/77 3/06/78 3/29/77 5/15/75 8/15/75 10/17/77 11/17/75 2/17/76 11/15/76 2/15/77 8/15/77 2/15/78 5/17/76 8/15/76 11/15/77 4/01/73 10/01/73 4/01/74 10/01/74 4/01/75 10/01/75 4/01/76 10/01/76 4/01/77 10/01/77 Issue date Price Price range since first trade 2/ High Date 2/28/78 12/02/76 12/10/76 12/02/76 9/06/77 12/10/76 12/02/76 11/15/77 12/03/76 11/26/76 12/02/76 4/14/77 12/12/76 2/02/78 6/28/77 12/02/76 9/06/77 11/26/76 12/02/76 12/01/77 12/31/76 2/28/78 4/14/77 12/03/76 12/10/76 10/06/77 12/03/76 2/28/78 12/10/76 6/28/77 9/06/77 2/03/78 12/30/76 12/30/76 12/21/77 2/28/78 2/28/78 2/28/78 2/28/78 2/28/78 12/30/77 12/30/77 7/31/77 12/30/77 09.? Low Price range since first trade 1/ High Low Date 2/23/78 5/27/76 8/23/74 2/16/78 2/22/78 8/23/74 1/11/78 1/09/78 1/10/78 8/23/74 9/01/75 1/11/78 5/27/76 2/16/78 2/21/78 2/16/78 2/16/78 2/21/78 9/16/75 2/16/78 1/11/78 2/24/78 2/16/78 9/16/75 9/15/75 2/22/78 12/10/75 2/28/78 2/21/78 2/22/78 2/22/78 2/16/78 2/16/78 2/16/78 2/16/78 9/30/74 9/30/74 9/30/74 10/31/74 4/30/75 10/01/76 5/28/76 10/01/76 2/28/7* Price Date Price Date $2,497 4% 2/15/ % +.05% 1/23/ /12/ /29/69 1,754 31/2 11/15/ /03/ /12/ /24/ /15/ /15/ /15/ /18/74 2,702 63/8 2/15/ /15/ /09/ /28/74 1,251 31/4 6/15/ /01/ /04/ /26/70 2,353 63/8 8/15/84 92, /15/ /03/ /27/ /4 5/15/ /03/ /11/ /26/70 1,048 41/4 5/15/ /15/ /05/ /26/70 1,216 61/8 11/15/ /15/ /05/ /29/74 2,850 31/2 2/15/90 ^ /14/ /21/ /26/70 1,247 81/4 5/15/90 ^ /07/ /31/ /12/75 2,897 41/4 8/15/ /15/ /26/ /26/70 1,504 71/4 8/15/92 2/ /08/ /29/ /16/ /15/ /17/ /16/ /26/ /4 2/15/93 2/ /10/ /04/ /26/74 1,501 77/8 2/15/93 2/ /06/ /30/ /16/78 1,4 71/2 8/15/8893 2/ /15/ /28/ /26/74 1,078 41/8 5/15/8994 2/ /18/ /28/ /26/ /15/95 V /15/ /18/ /26/ /15/9398 1/ /15/ /28/ /26/74 2,027 31/2 11/15/98 2/ /03/ /12/ /26/70 2,414 81/2 5/15/9499 1/ /15/ /31/ /26/74 2,771 77/8 2/15/9500 J/ /18/ /31/ /16/75 2,265 83/8 8/15/9500 / /15/ /31/ /16/75 1, /15/9601 2/ /16/ /31/ /16/78 4,245 81/4 5/15/0005 y /15/ /31/ /15/75 4,249 75/8 2/15/0207 1/ /15/ /28/ /16/78 1,495 77/8 11/15/0207 J/ /15/ /23/ /16/78 Beginning April 1953, prices are closing bid quotations in the over thecounter market. Prices for prior dates are the mean of closing bid and ask quotations. "When issued" prices are included in the history beginning October Dates of highs and lows in case of recurrences are the latest dates. 2/ On callable issues market convention treats the yields to earliest call date as most significant when an issue is selling above par, and to maturity when it is selling at par or below.,2/ Included in the average yield of longterm taxable Treasury bonds as shown under "Average yields of LongTerm Bonds."

89 YIELDS OF TREASURY SECURITIES FEBRUARY 28, 1978 Based on closing bid quotations P E R C E N T V O 00 H JD C O > H i i O 2 to o z H 5d M > to a to H O a to M W» a > 4.0 LEGEND x Fixed coupon issues. High coupon issues 7 % and higher fixed maturity issues. Callable issues. A High coupon callable issues plotted to earliest call date w h e n prices are above par and to maturity date wh e n prices are at par or below. % V/2% exchange notes. + Bills coupon equivalent of 3mo., 6mo., and lyr. bills. JL Note: The curve is fitted by eye and based only on the most actively traded issues. Market yields on coupon issues due in less than 3 months are excluded. *< po

90 82 Treasury Bulletin AVERAGE YIELDS OF LONG TERM BONDS Table AY1. Average Yields of LongTerm Treasury, Corporate and Municipal Bonds by Periods Period Treasury bonds 1/ Aa new corporate bonds 2/ S. I. A. new Aa municipal bonds 2/ Treasury Aa new S. I. A. 1 bonds 1/ corporate new Aa I Treasury bonds 7 j municipal 1I bonds 1/ bonds 2/ j Monthly series averages of daily or weekly series Aa new corporate bonds 2/ S. I. A. 1 new Aa I Treasury municipal I bonds 1/ bonds 2/ 1 Aa new corporate bonds 2/ S. I. A. new Aa municipal bands 2/ y ^ / July A/ y / j>/ / / * U June..., / U July / / U i j k/ Jan y / u /5/ U / m L. Sept. Oct. Period Treasury bonds 1/ Aa new corporate bonds 2/ S. I. A. new Aa municipal bonds 2/ Period Treasury bonds 1/ Nov Dec Aa new corporate bonds / S. I. A. new Aa municipal bonds 2/ Weekly series average for weeks ending Period Jan. 6, Feb , n.a. Treasury bonds 1/ Aa new corporate bonds 2/ S. I. A. new Aa municipal bonds 2/ n.a n.a / J 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 10 years. For bonds currently in series, see Table MQ3. Treasury series based on reoffering yields of new corporate bonds with 5 years call protection and rated Aa by Moody1s Investors Service. Prior to June 1973, this series reflected bonds without call protection. The value of 5 years call protection in that period ranged 2/ U 5/ n.a. from 10 to 25 basis points. Index of new issue reoffering yields on Aa 20 year general obligations compiled by Securities Industry Association. Weekly series are not available prior to Januaiy One or more new longterm bonds added to the average. An existing bond dropped from the average. Not available.

91 AVERAGE YIELDS OF LONGTERM TREASURY, CORPORATE, AND MUNICIPAL BONDS V O oo > < S3 > O M f a m O r o 2? a w o d U.1 * Change in Aa computation method effective June See footnote following table AY1. O o

92 84 INTERNATIONAL FINANCIAL STATISTICS. Treasury Bulletin 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. Table IFS1 shows the reserve assets of the United States, including its gold stock, special drawing rights held in the Special Drawing Account in the International Monetary Fund holdings of convertible foreign currencies, and reserve position m the International Monetary Fund. Table IFS2 brings together statistics on liabilities to foreign official institutions, and liquid liabilities to all other foreigners, which are used in the United States balanceofpayments statistics. Table IFS3 presents an area breakdown of United States liabilities to official institutions of foreign countries. Table IFS4 shows United States Treasury nonmarketable bonds and notes issued to official institutions of foreign countries. Table IFS5 sets forth the factors which affect the United States position in the International Monetary Fund. Table IFS6 presents a measure of weightedaverage changes in exchange rates between the United States dollar and the currencies of certain other countries. End of calendar year or month reserve assets (1) Table IFS1. U.S. Reserve Assets (In millions of dollars) 2/ Gold stock 1/ Treasury Special drawing rights 2/ (4) Convertible foreign currencies 4/ (5) Reserve position in International Monetary Fund 5/ (6) (2) (3) 24,832 22,857 22,781 1,975 22,540 20,582 20,534 1,958 21,504 19,507 19,456 1,997 I ,359 17,804 17,767 1, ,753 16,947 16, ,690 17,220 16,057 15, ,064 16,843 15,596 15, ,035 16,672 15,471 15, ,450 13,806 6/ 13,733 6/ / 14,882 13,235 13,159 1, ,830 12,065 11,982 2, ,710 10,892 10,367 3,528 1,290 16,964 1/ 11,859 10,367 2,781 7/ 2,324 14,487 11,072 10, ,935 12,167 B/ 10,206 10,132 1, / ,151 2/ 10,487 9/ 10,410 2/ 1,958 2/ / 14,378 K / 11,652 10/ 11,567 W/ 2,166 10/ / 15,883 11,652 11,652 2, ,852 16,226 11,599 11,599 2, ,212 18,747 11/ 11,598 11,598 2,395 11/ 320 4,434 11/ 19,312 11/ 11,719 11,719 2,629 11/ 18 4,946 11/ 1977Feb... 19,122 11/ 11,658 11,650 2,383 13/ 262 4,819 11/ 19,120 11/ 11,658 11,636 2,389 13/ 261 4,812 11/ 18,868 n / 11,658 11,636 2,384 11/ 106 4,720 11/ May... 19,195 13/ 11,658 11,629 2,470 13/ 95 4,972 11/ 19,156 U / 11,658 11,620 2,486 11/ 92 4,920 11/ July... 18,927 11/ 11,658 11,595 2,498 13/ 55 4,716 11/ 19,055 11/ 11,658 11,595 2,483 13/ 55 4,859 33/ Sept... 18,988 11/ 11,658 11,595 2,489 13/ 65 4,776 33/ 19,048 11/ 11,658 11,595 2,530 11/ 18 4,842 3J/ 19,155 13/ 11,658 11,595 2,548 11/ 16 4,933 3;l/ 19,312 11/ 11,719 11,719 2,629 11/ 18 4,946 11/ 1978Jan... 19,454r 11/ ll,718r ll,718r 2,629 11/ 173 4,934 11/ Feb... 19,373 11/ 11,718 11,718 2,671 11/ 18 4,966 11/ 1/ Includes gold sold to the United States by the International Monetaiy 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 IFS2. 2/ Includes gold held by the Exchange Stabilization Fund (ESF). See "Account of the U.S. Treasury,» Table UST3. 2/ Includes initial allocation on January 1, 1970 of $867 million, second allocation on January 1, 1971 of $717 million and third allocation on January 1, 1972 of $710 million of special drawing rights (SDR) in the Special Drawing Account in the International Monetaiy Fund, plus or minus transactions in SDR. 4/ Includes holdings of Treasury and Federal Reserve System. 5/ The United States has the right to purchase foreign currencies equivalent to its reserve position in the Fund automatically if needed. Under appropriate conditions the United States could purchase additional amounts related to the United States quota. See Table IFS5. 6/ Reserve position includes, and gold stock excludes, $259 million gold subscription to the Fund in June 1965 for a U.S. quota increase which became effective on February'23, In figures published by the Fund from June 1965 through January 1966, this gold subscription was included in the U.S. gold stock and excluded from the reserve position. 7/ Includes gain of SP68 million resulting from revaluation of the German mark in October 1969, of which $13 million represents gain on German mark holdings at the time of revaluation. See also footnotes 3 and 4, Table IFS4. 8/ Includes $28 million increase in dollar value of foreign currencies revalued to reflect market exchange rates as of December 31, See also footnotes 3 and 5, Table IFS4. 9/ reserve assets include increase of $1,016 million resulting from change in par value of the U.S. dollar in May 1972, consisting of $828 million total gold stock, $822 million Treasury gold stock, $155 million special drawing rights and $33 million reserve position in the International Monetary Fund. 10/ reserve assets include increase of $1,436 million resulting from change in par value of the dollar on October 18, 1973, consisting of $1,165 million total gold stock, *1,157 million Treasury gold stock,?217 million special drawing rights, and $54 million reserve position in the International Monetaiy Fund. 11/ Beginning July 1974, the IMF adopted a technique for valuing the SDF based on a weightedaverage of exchange rates for the currencies of 16 member countries. The United States SDP holdings and reserve position in the IMF are also valued on this basis beginning July At valuation used prior to July 1974 (SDP 1=$ ), the following endofmonth values amounted to (in millions of dollars): SDR holdings U.S. reserve position U.S. total fnet^ in the IMF reserves 1977Feb. 2,487 4,904 19,311 Mar. 2,487 4,885 19,2 Apr. 2,475 4,779 19,018 May 2,565 5,031 19,349 June 2,572 4,964 19,286 July 2,572 4,738 19,023 Aug. 2,578 4,921 19,212 Sept. 2,581 4,831 19,135 Oct. 2,586 4,289 19,0 Nov. 2,597 4,906 19,177 Dec. 2,610 4,790 19, Jan. Feb. 2,610 2,627 4,776 4,766 19,277 19,129 r Revised.

93 March INTERNATIONAL FINANCIAL STATISTICS Table IFS2. U.S. Liabilities to Foreign Official Institutions and Liquid Liabilities to All Other Foreigners (In millions of dollars) Liabilities to foreign countries Official institutions 2/ Liquid liabilities Liquid Liquid to other foreigners liabilities End of liabilities Shortterm Market Nonmarket Other Liquid Short Markettary in to nonmone calendar to IMF year or arising from liabilities Treasury Treasury marketities liabilal and reable U.S. able U.S. readily liabilterable U.S. ternation month gold transactions l/ reported bonds bonds and able to ities Gov't, gional organizations by banks and notes i j liabilities reported bonds banks in U.S. notes 2/ by banks and notes 6/ in U.S. 2/1/ 8/ 1/ (1) (2) (3) (4) (5) (6) (7) (8) (9) (10 ) (11) (12) 15,825 2/ 200 n.a. 7,7 n.a. 3,472 n.a. 2,252 n.a ,845 2/ 200 n.a. 8,665 n.a. 3,520 n.a. 2,430 n.a. 1,047 19, ,120 9, ,678 2,940 2, , IQ/... f 20, ,078 10, ,818 2,773 2, ,525 \ 21, ,088 10, ,818 2,780 2, , IQ/.... / 22, ,830 10, ,404 2,871 2, ,948 \ 22, ,830 10, ,484 2,873 2, , /... / 24, ,948 11, ,346 3,013 2, ,161 24, ,4 11, ,346 3,013 2, , /... f 26, ,459 12,467 1, ,817 3,397 3, ,960 \ 26, ,425 12,467 1, ,817 3,387 3, , /... / 29, ,790 13,224 1,125 1, ,271 3,730 3, ,722 ^ 29, ,786 13,220 1,125 1, ,303 3,753 3, ,722 29, ,825 13,066 1,105 1, ,419 4,059 3, , /... f 31,144 1,011 14,840 12, ,116 4,271 3, \ 31,019 1,011 14,895 12, ,936 4,272 3, IQ/... f 35,819 1,033 18,201 14, ,452 1,807 11,209 4,685 4, \ 35,667 1,033 18,194 14, ,452 1,807 11,085 4,678 4, /... \ 38,687 1,030 17,407 11, ,219 2,341 14,472 5,053 4, \ 38,473 1,030 17,340 11, ,219 2,341 14,472 4,909 4, /... / 45,755 11/ 1,019 15,975 H/11, ,070 11/ 1,505 23,638 4,464 3, \ 45,4 1,019 15,998 11, ,070 1,505 23,645 4,589 4, IQ/... / 47, ,786 19, , ,137 4,676 4, \ 46, ,775 19, , ,169 4,604 4, / 12/... f 67, ,209 39,679 1,955 9, ,262 4,138 3, ,528 ^ 67, ,651 39,018 1,955 9, ,949 4,141 3, ,523 82,861 61,526 40,000 5,236 15, ,666 5,043 4, ,626 92,490 12/ f 66,861 :3/43,923 5,701 15,564 12/ 1,673 17,694 5,932 5, , IQ/... f 119,255 76,816 53,072 5,059 16,339 2,346 30,314 8,803 8, , ,163 76,823 53,079 5,059 16,339 2,346 30,106 8,2 8, , ,552 80,712 49,530 6,671 19,976 4,535 29,516 10,701 10, , ,357,976 53,619 11,788 20,648 5,921 37,329 13,569 12, , p , ,050 64,532 32,116 20,443 8,959 42,500 16,086 14,327 1,759 7, Jan ,49 >r 92,760 54,617 12,017 20,622 5,504 33,384 13,433*' 12,436r 997 Feb... 7,9 148,850 93,608 54,0 12,725 20,496 5,477 33,117r 14,l42r 13,121r 1,021 7,983r Mar ,674 96,655 56,046 13,977 21,106 5,526 32,816 14,lQ2r r Apr... 1,093 8,lOlr 156,383r 99,843 57,531 15,230 20,976 6,106 34,747!r i* r May... 1, ,9601* 7, ,ll5r 58,260 I6,381r 20,950 6,524* 35,521 14,638r 13,400 1,228 8,696r June... I63,448r 103,659r 57,413 18,344r 20,7 6,985r 36,586r 15,0l9r 13,623r 1,396 8,184 July... I68,811r 107,608r 60,063r 19,392r 20,837 7,316i 39,946 14,837r 13,381r l,456r 6,420 Aug... I66,342r 108,137r 56,810 23,088r 20,655 7,584i 35,800r 15,249r 13,693r 1,556 1,156 Sept ,709r lll,208r 56,805r 25,581r 21,128 7,694i 40,4l3r 15,674? 14,047r 1,627 7,414 Oct ,937r 117,057r 59,835 28,633r 20,351 8,23& 38,755 15,729 14,038 1,6 7, , ,141 62,214 31,518 20,462 8,947 37,981 15,964 14,196 1,768 7,633 Dec.p , ,050 64,532 32,116 20,443 8,959 42,500 16,08b 14,327 1,759 7, Jan.P , ,769 66,487 33,830 20,473 8,979 40,337 16,204 14,385 1,819 7,698 Note; Table is based on Treasury Department data and on data reported 2/ to the Treasury Department by banks and brokers in the United States. Data correspond generally to statistics following in this section and 8/ in the "Capital Movements" section, except for the exclusion of nanmarketable, nonconvertible U.S. Treasury notes issued to foreign 2/ official nonreserve agencies and the inclusion of investments by foreign official reserve agencies in debt securities of U.S. Fed 10/ erallysponsored agencies and U.S. corporations. 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 organ 11/ izations. 1/ Includes liability on gold deposited by the International Monetary Fund to mitigate the impact on the U.S. gold stock of foreign pur 12/ chases for gold subscriptions to the Fund under quota increases, and U.S. Government obligations at cost value and funds awaiting investment obtained from proceeds of sales of gold by the International Monetary Fund to the United States to acquire incomeearning assets. 2/ Includes Bank for International Settlements and European Fund. 2/ Derived by applying reported transactions to benchmark data; breakdown of transactions by type of holder estimated / i j Excludes notes issued to foreign official nonreserve agencies, jj/ Includes longterm liabilities reported by banks in the United States and debt securities of U.S. Government corporations, Federallysponsored agencies, and private corporations. 6/ Includes shortterm liabilities payable in dollars to foreign banks, n.a. p and shortterm liabilities payable in foreign currencies to foreign banks and to "other foreigners." r Includes marketable U.S. Government bonds and notes held by foreign banks. Principally the International Bank for Reconstruction and Development, the InterAmerican Development Bank and the Asian Development Bank. 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 $101 million increase in dollar value of foreign currency liabilities resulting from revaluation of the German mark in October Data on the second line differ from those on the first line because certain accounts previously classified as "official institutions" are included with "banks"; a number of reporting banks are included in the series for the first time; and foreign currency liabilities to official institutions of foreign countries are increased in value by $110 million to reflect market exchange rates as of December 31, 1971, as follows: U.S. Treasury certificates, $7 million; nonmarketable U.S. Treasury bonds and notes, $103 million. Includes $162 million increase in dollar value of foreign currency liabilities to official institutions of foreign countries revalued to reflect market exchange rates, as follows: shortterm liabilities, $15 million; and nonmarketable U.S. Treasury notes, $147 million. Not available. Preliminary. Revised.

94 86 Treasury Bulletin INTERNATIONAL FINANCIAL STATISTICS Table IFS3. U.S. Liabilities to Official Institutions of Foreign Countries, by Area End of calendar year or month foreign countries Western Europe 1/ (2) (In millions of dollars) Canada Latin American Republics (4) Asia Africa Other countries 2/ (7) (1) (3) (5) (6) H,425 8,508 1,789 1,058 2, ,786 9,325 1,812 1,283 3, ,825 8,826 1,702 1,550 3, /... f 14,840 7,771 1,333 1,310 3, ,895 7,771 1,333 1,310 3, ,194 10,321 1,310 1,582 4, /... f 17,407 8,070 1,867 1,865 5, \ 17,340 8,062 1,866 1,865 4, /... / 15,975 i j 7,074 U 1,624 1,888 4, \ 15,998 4/ 7,074 4/ 1,624 1,1 4, /... I 23,786 13,620 2,951 1,681 4, \ 23,775 13,615 2,951 1,681 4, /1/... / 51,209 30,010 3,980 1,414 14, ^ 50,651 30,134 3,980 1,429 13, ,526 34,197 4,279 1,733 17, ,963 r 66,861 6/ 45,764 6/ 3,853 2,544 10, , / 76,816 44,328 3,662 4,419 18,619 3,161 2,627 76,823 44,328 3,662 4,419 18,626 3,161 2,627 80,712 45,701 3,132 4,448 22,551 2,983 1, ,976 45,882 3,406 4,906 34,108 1,893 1, ,050 70,709 2,334 4,634 45,688 1, Jan... 92,760 45,954 3,197 4,599 35,1 1,757 2,062 Feb... 93,608 46,136 2,844 4,595 36,109 1,770 2,154 Mar... 96,655 48,132 2,684 4,835 37,394 1,628 1,982 Apr... 99,843 49,288 2,752 4,398 39,486 1,883 2,036 May ,115r 50,604 2,798 4,672 40,344r 1,821 1,876 June ,659r 53,344 2,700 4,240 39,839r 1,938 l,598r July ,608r 55,669 2,653 4,338 41,167r 2,460 l,321r Aug ,137r 57,74^ 2,557 4,246 40,440r 2, lll,208r 60,724r 2,508 4,466 40,333r 2,144 1,033 Oct ,057r 65,039 1,863 4,269 42, 700r 2,027 1, ,141 68,147 1,9 4,843 45,450 1, ,050 70,709 2,334 4,634 45, 688 1, ,769 72,528 2,078 4,562 48,096 1, Note: Data represent shortterm and longterm liabilities to the official institutions of foreign countries, as reported by banks in the United States; foreign official holdings of marketable and nonmarketable U.S. Government securities with an original maturity of more than one year except for nonmarketable notes issued to foreign official nonreserve agencies; and investments by foreign official reserve agencies in debt securities of U.S. Government corporations, Federallysponsored agencies, and private corporations, l/ Includes Bank for International Settlements and European Fund. 2/ Includes countries in Oceania, Eastern Europe and Western European dependencies in Latin America. 2/ 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. i j Includes $101 million increase in dollar value of foreign currency liabilities due to revaluation of the German mark in October / Data on the second line differ from those on the first line because certain accounts previously classified as "official institutions" are included with "banks"; a number of reporting banks are included in the series for the first time; and U.S. Treasury liabilities payable in foreign currencies to official institutions of foreign countries are increased in value by $110 million to reflect market exchange rates as of December 31, / Includes $162 million increase in dollar value of foreign currency liabilities revalued to reflect market exchange rates, p Preliminary, r Revised.

95 March INTERNATIONAL FINANCIAL STATISTIC Table IFS4. Nonmarketable U.S. Treasury Bonds and Notes Issued to Official Institutions of Foreign Countries End of calendar year or month (1) (2) (In millions of dollars or dollar equivalent) Belgium (3) Canada 1/ (4) Denmark (5) Germany (6) Payable in dollars Italy 2/ (7) Japan (8 ) Korea (9) Sweden (10) Switzerland 251 x , , , ,330 1, , ,181 Lj 1, , ,563 2, , ,657 5/ 7, ,640 5, ,872 14, ,840 11, ,669 6/ 14,210 2,540 11,670 16,339 14,867 2,540 12,327 19,976 18,377 2,100 16,277 20,648 19,102 1,650 16, ,443 19, , Feb... 20,496 19,002 1,550 16, ,106 19,645 1,550 17, ,976 19,542 1,550 17, ,950 19,542 1,550 17, ,7 19,542 1,550 17, ,837 19,489 1,550 17, ,655 19,339 1,400 17, ,128 19,839 1,400 17, Oct... 20,351 19, , ,462 19, , ,443 19, , Jan... 20,473 19, , Feb... 19,602 18, , (11) Taiwan (12) Thailand (13) calendar year or month Austria Belgium Payable in foreign currencies Germany y Italy Switzerland Bank for International Settlements f20) (14) (15) (16) (17) (18) (19) , , , , , ,750 y 1,084 V , ,827 5/ 612 1, , ,233 1,459 6/ 1,459 1,472 1,472 1,599 1,599 1,546 1, ,169 1, Feb... 1,494 1,494 1,461 1,461 1,434 1,434 May... 1,408 1,408 1,375 1,375 1,348 1,348 1,315 1,315 1,289 1,289 * Oct... 1,262 1,262 1,210 1,210 Dec... 1,169 1, Jan... 1,128 1,128 Feb... 1,087 1,087 " Note: For further information, see "Public Debt Operations," Table PDO8 and 9. 1/ Includes bonds issued to the Government of Canada in connection with transactions under the Columbia River Treaty. Amounts outstanding were $204 million, September 1964 through October 1965; $175 million, November 1965 through October 1966; $144 million, November 1966 through October 1967; $114 million, November 1967 through October 1968; $84 million, November 1968 through September 1969; $54 million, October 1969 through September 1970; and $24 million, October 1970 through October / Notes issued to the Government of Italy in connection with militaxy purchases in the United States. 2/ In addition, nonmarketable Treasury notes amounting to $125 million equivalent were held by a group of German commercial banks from June 1968 through November The dollar value of these notes was increased by $10 million in October 1969, and by $18 million as of December 31, See also footnotes 7 and 8, Table IFS1. 4/ Includes an increase in dollar value of $84 million resulting from revaluation of the German mark in October See also footnote 7, Table IFS1. 5/ Includes $106 million increase in dollar value of foreign currency obligations revalued to reflect market exchange rates as of December 31, See also footnote 8, Table IFS1. 6/ Includes $15 million increase in March and $132 million increase in April in dollar value of foreign currency obligations revalued to reflect market exchange rates.

96 88 Treasury Bulletin INTERNATIONAL FINANCIAL STATISTICS Table IFS5. U.S. Position in the International Monetary Fund Calendar year or month Payments of subscription in dollars^ ^ (In millions of dollars) Transactions affecting IMF holdings of dollars during period Transactions by other countries with IMF U.S. transactions with IMF Net gold sales by IMF 1/ (2) Net borrowings by IMF 2/ (3) Transactions in foreign currencies 2/ (A) IMF net income in dollars (5) Purchases of dollars i j (6) Repurchases in dollars (7) change (8) IMF holdings of dollars at and of period Amount (9) Percent of U.S. quota (10) U.S. reserve position in IMF at end of period 1/ , ,922 1, , i;o3i ,336 2, ^ , , , , , , , , , , / ,313 4, , , , , ,034 2, , , / ,929 4, , * 1, ,350 6, / , / , ,073 1,265 6, , , , , ,214 3, , ,779 1, ,963 2/ 49 4,946 10/ 1977Feb ,570 2/ 44 4,819 IQ/ ,590 2/ 44 4,812 20/ ,695 2/ 46 4,720 IQ/ ,596 2/ 44 4,972 10/ ,663 2/ 45 4,920 10/ July ,889 2/ 48 4,716 10/ ,832 2/ 47 4,859 10/ ,922 2/ 49 4,776 10/ Oct ,924 2/ 49 4,842 10/ ,847 2/ 48 4,933 10/ Dec ,963 2/ 49 4,946 10/ 1978Jan ,976 2/ 49 4,934 10/ Feb... ' ,986 2/ 49 4,a66 10/ (11) Note: The initial U.S. quota in the International Monetary Fund was $2,750 million. The U.S. quota was increased to $4,125 million m 1959, $5,160 million in February 1966, and $6,700 million in December 1970, and revalued to $7,274 million in May 1972 and $8,083 million in October 1973" as a result of changes in the par value of the dollar. Under the Articles of Agreement, subscription payments equal to the quota have been made 25 percent in gold and 75 percent in dollars. 1/ 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 deposits or gold investment (see Table IFS2). 2/ Represents net loans made to the IMF under the General Arrangements to Borrow. 2/ 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 35 years, but only to the extent that the Fund's holdings of dollars exceed 75 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 1970, includes dollars obtained by countries other than the United States from sales of gold to the Fund. J5/ Represents the United States gold tranche position in the Fund (the United States quota, plus net U.S. loans to the IMF, minus Fund s holdings of dollars), which is the amount that the United States could purchase in foreign currencies automatically if needed. Under appropriate conditions, the United States could purchase additional amounts related to the United States quota. 6/ Includes $259 million gold subscription to the Fund in June 1965 for a U.S. quota increase which became effective on February 23, In figures published by the Fund from June 1965 through January 1966, this gold subscription was included in the U.S. gold stock and excluded from the reserve position. 2/ Includes $30 million of special drawing rights. 8/ Represents amount payable in dollars to the Fund to maintain the value of Fund holdings of U.S. dollars. 2/ Excludes currency valuation adjustments for each month as follows (in millions of dollars). Payable to the U.S. Payable to the IMF l977feb lifer... 9 Apr... 9 May... 4 June July Aug Sept... 5 Oct Nov Dec Jan... 1 Feb / Includes valuation adjustments on net borrowings by the IMF due to changes arising from fluctuations in the dollar value of the IMF's unit of account (SDR), for each month as follows (in millions of dollars): 1977Feb.. Mar.. Apr.. May.. June. July. Aug.. Sept. Oct.. Nov.. Dec Jan.. Feb.. * Less than $500,000. Increase or Decrease ()

97 March INTERNATIONAL FINANCIAL STATISTICS. Table IFS6. WeightedAverage of Exchange Rate Changes for the Dollar (Percent change relative to exchange rates as of endmay 1970) Feb... Mar... Apr... May... June.. July.. Aug... Sept.. Oct... Nov... Dec Jan.p. Feb.p. End of calendar year or month Currencies of OECD countries 2/ Tradeweighted average appreciation (+) or depreciation () of the U.S. dollar 1/ VisaVis Currencies of 46 main trading countries 2/ / This table presents calculations of weighted average percentage changes in the rates of exchange between the dollar and certain foreign currencies, in order to provide a measure of changes in the dollar s general foreign exchange value broader than a measure provided by any single exchange rate change. Calculations are provided for two sets of countries that account for a major share of U.S. foreign trade. U.S. bilateral trade patterns in 1972 are used as a convenient, readily available proxy for the assignment of relative weights to individual exchange rate changes,though sich weights do not provide a full measure of individual currencies' relative importance in U.S. international transactions because they take no account of factors other than trade. The calculations do not purport to represent a guide to measuring the impact of exchange rate changes on U.S. international transactions. Exchange rate data used in constructing the indices reported here differ somewhat from those used in earlier calculations to more accurately reflect endofperiod currency values. The equations used are as follows: Equation one is used to calculate a tradeweighted average of changes in the dollar cost of foreign currencies: (EQ1) Em = Z(A$/fCl * Mx/SM) Where: E^ is the weighted average of percentage changes xn the dollar cost of indxvidual foreign currencxes; A$/fci xs the percent change in the dollar cost of foreign currency 1? and Mj/EM is U.S. imports from country i, as a proportion of total U.S. imports from all countries xn the set. Equation two is used to calculate a tradeweighted average of changes in the foreign exchange cost of dollars: (EQ2) Ex = Z(Afc1/$ * X^/EX) Where: Ex is the wexghted average of percentage changes xn the foreign currency cost of dollars; Afcx/$ xs the percent change in the forexgn currency i cost of dollars; and Xi/EX xs U.S. exports to country x, as a proportxon of total U.S. exports to all countrxes xn the set. Equation three combines the above exportweighted and importweighted averages to provide an overall measure of exchange rate change: (EQ3) E = [(Em * m/m+x)*(l)] + [Ex * x/m+x] Where: m/m+x is U.S. xmports as a proportxon of xts total trade wxth all countrxes xn the set; and x/m+x xs U.S. exports as a proportxon of xts total trade wxth all countrxes xn the set. g/ Australia, Austria, BelgiumLuxembourg, Canada, Denmark, Finland, France Germany, Greece, Iceland, Ireland, Italy, Japan, the Netherlands, New Zealand, Norway, Portugal, Spain, Sweden, Switzerland, Turkey, United Kingdom. 2/ The currencxes of 46 IMF member countries which account for approximately 90% of U.S. total trade, p Preliminary.

98 90 Treasury Bulletin CAPITAL MOVEMENTS T*acX around Data relat ns to oapital movements between the United States and forei <rn countries have been collected since W35, pursuant to F\'cvHt*vo Order 6'>o0 of January 1% 1 54, Executive Order 100'3 of February S, 1'4, and Treasury regulations promulgated thereunder. The regulations were amended in January IQ1''*to acknowledge the effects of the International Investment Survey Act of 1^76 which p^ovmes add +*onai authority for the collcc* o of data on?nt.ornational cap! tal t'lowt' and international investment. Statist7'S on the principal types of data and the principal countries are publisi "*d monthly in the "Treasury Bulletin." Reports are filed with the Federal Reserve banks by banks, securities brokers and dealers, and nonbank in*: concerns in the United States. These statistics are then consolidated and are publ*shed 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 >1, l^o'. The report forms (formerly Treasury Forei<rn Exchange Forms) were redesignated ir* January!P77 as Treasury International Capital Forms, l/ The present form of the published presentation of the "Capital Movements statistics was introduced in the May 1969 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 by 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 ail cases reflect the ultimate ownership of bhe 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. Beporting 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 specified exemption levels are exempt from reporting. As described belcw, exemption levels were changed in some instances beginning with reports filed as of September 30, Banks file reports monthly covering their shortterm and longterm liabilities to, and claims on, foreigners. Twice a year they also report their shortterm dollar liabilities to foreigners in countries not shewn separately on the monthly report of liabilities. The specified exemption level applicable to the monthly reports is based on the average for the report dates during a sixmonth period, including the current report date. Beginning with reports as of September 30, 1977, the specified exemption level was changed to $2 million. Previously, this exemption level was $500,000. Banks, securities brokers and dealers, and in some instances, nonbanking concerns, report monthly their transactions in securities with foreigners; the applicable exemption level is $500,000 on the p?and total of purchases and on the nrand total of sales durinj the month covered by the report. Quarterly reports are filed by exporters, importers, industrial and commercial concerns, financial institutions other than banks and brokers, and other nontnking firms if their liabilities or claims, on thesixmontl saverage basis, are $2 million or more. Prior to the reports due as of Sep tember 1 w 7, the applicable exemption level was $500,000. These firms also report the liquid portion of their claims a,r each monthend when they have reportable claims of $2 million or more. This exemption level was raised from $1 million beginning with the reports due as of September 30, L Pescrlrt on of statistics Data collected on the Treasury International v'irital Forms are published in the "Treasury Bulletin" in fiveseetions. Each section contains all the data relevant to tne same statistical series, with tables showing time series by type and country, and the detailed breakdowns of the latest available data.

99 March 1978.CAPITAL MOVEMENTS 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 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 U.S. corporations. The geographical, breakdown of the data on securities transactions shows the country of domicile of the foreign buyers aad* 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 19^9> 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. The data published in these sections do not cover all types of reported capital movements between the United States and foreign countries. The principal exclusions are the intercompany capital transactions of 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 Commerce in its regular reports on the Luited States international transactions. 1/ Copies of the reporting forms and instructions may be obtained from the Office of Statistical Reports, Office of the Assistant Secretary for Economic Policy, Department of the Treasury, Washington, D. C or from Federal Reserve Banks.

100 92 Treasury Bulletin.CAPITAL MOVEMENTS. End of calendar year or month i95v» / / / / / / / / /...? p Jan... Feb... lifer... Apr... May... June.. July.. Aug... Sept.. Oct... Nov... Dec.p. 197&Jan.p. shortterm liabilities Section I Liabilities to Foreigners Reported by Banks in the United States Table CMI1. ShortTerm Liabilities by Type of Foreign Holder (1) (2) Tj;64l' " 14, ,260 18,699 18,781 19,908 19,874 21,330 25,467 25,518 40,040 ^ 40,199 41,719 41,761 r 55,404 55,428 ^ 60,697 69,074 ' 94,862 k 94,771 94, , ,062r 105, ,154** 110r,441r 113,741r 113,350r 117,225r 110,519r 114,82Or 116, , ,454 23,849 23,900 24,072 26,343 26,219 29, , ,786 40,499 40, ,661 59,284 67,119,6,600 89, , ,437r 101,148r 101,871r 105,154r 107,l8lr 107,622r 113,390r 106,303r lll,265r 112, , ,209 Official institutions 1/ (3) 7,7 ' 8,665 9,154 10, ,997 11,963 12,467 13,224 13,220 13,066 12,484 12,539 14,034 14,027 11,318 11,054 11, ,679 39, ,000 43,923 53,072 53, ,619 64,532 54,617 54,0 56, ,260 57,413 60,063r 56,810 56,805r 59,835 62, ,487 Payable in dollars (4) 7,7 8,665 9,154 10, ,949 11,5 12,437 13,224 13,220 13,066 11,968 12,022 13,882 13,876 10,855 10,851 10, ,521 38,854 6/ 39,829 43,796 52,945 52, ,619 64,532 54,617 54,0 56, ,260 57,413 60,063r 56,810 56,805r 59,835 62, ,487 (In millions of dollars) foreign countries Payable in foreign currencies (5) J / 127 8/ 127 8/ (6) 5,724 5,950 7,076 7,047 7,759 7, ,863 10,625 10,680 11,006 13,859 13,680 15,337 15,205 18,6 27,577 27,709 21,166 21,207 13,954 14,643 6/ 19,284 23,196 38,619 38,520 39,515 49, ,821r 46,238r 45,826r 47,623r 48,921r 50,208r 53,327r 49,493r 54,46lr 52,793 52, ,722 Banks and other foreigners.payable in dollars Banks (7) 3,413 3,460 4,601 4,705 5,299 5, ,713 7,153 7,213 7,360 10,023 9,864 11,132 11,008 14,298 23,412 23,419 16,7 16,949 10,034 10,721 6/ 14,340 17,224 29,676 29,467 28,966 36, ,656 32,307 31,958 33,942 34,875 35,923 39,001 34,948r 39,701r 38,011 37, ,630 Other foreigners (8) 2,252 2,430 2,398 2, ,046 3,354 3,376 3, ,128 4,120 4,444 3,939 4,064 4,029 4,038 3,692 3,694 4,618 5,503 8,304 8,414 10,000 12, ,437r 13,121r 13,010r 12,875r 13,400r 13,623r 13,381 13,693r 14,046r 14,037 14, ,385 Payable m foreign currencies (9) (10) International and regional ,031 1, ,050 2,084 1,547 1,618 1,618 1, ,273 1,483 1, ,221 1,221 1,772 1, , ,293 5, ,625 3,9l6r 4, ,560r 5,729tr 3,835r 4,216r 3,555 3,396 3, ,245 IMF gold investment 2/ (11) u 613 U 613 U U Nonmonetary international and regional ^ (12) ,250 1, ,372 1,367 1,413 1, ,293 5, ,625 3,6r 4,283 5,287 6,560r 5,729r 3,835r 4,216r 3,555 3,396 3, ,245 1/ 2/ 2/ 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 the United States to acquire incomeearning 6/ assets. Upon termination of investment, the same quantity of gold was reacquired by the International Monetary Fund. Principally the International Bank for Reconstruction and Development and the InterAmerican Development Bank. Includes difference between 2/ cost value and face value of securities in IMF gold investment account ($14 million at end 1971). In addition, IMF gold investment included investments in U.S. Govern 8/ ment bonds and notes which amounted to $109 million at and I960, $187 million at end 1961, and $61 million at end Data on the two lines shown for this date differ because of changes p r 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 on the second line differ from those on the first line because certain accounts previously classified as "official institutions are included with "banks1 and a number of reporting banks are included in the series for the first time. Second line includes $7 million increase in dollar value of foreign currency obligations revalued to reflect market exchange rates as of Dec. 31, Includes $15 million increase in dollar value of foreign currency liabilities revalued to reflect market exchange rates. Preliminary. Revised.

101 March CAPITAL MOVEMENTS. Section I Liabilities to Foreigners Reported by Banks in the United States Table CMI2. ShortTerm Liabilities by Type of Liability Part A Foreign Countries End of calendar / / / / / i / / / y., / ^.. 19' p... 7Jan... Feb... Mar... Apr... Jjfay... June.. July.. Aug... Sept.. Oct... Nov. Dec. p, i.978jan. p. foreign countries (1) 13,641 14,615 16,231 17,260 /is, ,78l (19,908 U9"874 21,330 (23,849 \23,900 24,072 r26,343 i26,219 /29,370 ^29,232 36, ,631 08,786 (40,499 U0/541 /53,632 ^3,661 59,284 67,119 1,6 (,600 do o f, 103, ,437r 101,148r 101,871r 105,154r 107,181r 107,622r 113,390r 106,303r lll,265r 112, , ,209 Deposits Demand (2) Official institutions 1/ Payable in dollars Time 2/ 3,059 3,511 2,834 3, ,261 3^234 1, , ,149 1, ,652 1,652 1,620 1,3274/ 1.5 2,125 2,951 2*951 > 0/ ,406 2,638 2,747 2,676 2,705 3,642 3,122 3,133 2,990 2, ,672 (3) 2,451 2,820 2,816 2,862 2,612 2;668 2,462 2,458 1,899 2,951 2, ,504 U.S. Treasury bills and certificates (4) 4,246 4,392 5,738 6,193 6,412 6, , ,186 m , ,311 2^0394/32*311 2,880 3,1 4,257 V,V67 ' 2,321 1,802 2,488 2,408 2,266 2,335 2,441 2,476r 2,401 2,248 1,987 1,903 1,848 1,802 1,771 31,453 31, ,199,'/2f, ,081 39,559 40,399 41,508 42,197 41,322 41,958r 39,825 40,802r 43,424 45, ,734 Other shortterm liabilities 2/ (5) ,092 1, , I,483 1,361 1*360 1,380 1,378 1,321 2,139 2,158 1,612 1,612 3,086 3,177 3,905 6,248 II,081 11,178 10,179 11,382 11,117 10,537 10,744 10,941 10,947 10,0r 12,062r 11,615 10,882 11,518 11,960 11,382 12,310 Payable in foreign cur (6) / / (In millions of dollars) Deposits Demand (7) Time 2,737 3,017 3,369 4,210 4,854 4,7 >78 >78 4,102 5,006 5, >795 6,636 7,933 7,763 10,374 16,745 16,756 12,376 12,385 7,047 3,3994/ 4, ,248 8,231 " 5 >4 9, ,475 9,385 8,395r 8,726 9,782 9,464r 10,136 8, , , ,249 1^ ,273 1,988 1,999 1,326 1, V ,1 1,0 1,873 2,297 2,03r> 2,089 l,820r l,766r l,695r l,743r 2,117r l,820r l,863r l,842r 1,858 1,805 2,035 2,015 U.S. Treasury bills and certificates (9) r Banks and other foreigners Payable in dollars Other shortterm liabilities 2/ go) ,039 1,077 1,406 m 1,927 1,973 2,621 4,658 4,644 3,202 3,197 2,130 6,9954/ 9,272 9,743 19,285 19,094 19,224 25, ,969 21,001r 21,688 23,417r 23,241r 24,243r 26,901r 24,046r 28,057r 26,349 25, ,188 Demand (11) 1,493 1,523 1,531 1,574 1,513 1^ ,797 1,709 1,711 1,688 1,688 1,660 1,660 1,955 2, ,248 4, ,741 4,0 3,868 3,803 4,111 3,790 3,595 3,751 3,870 4,055 4, ,243 Deposits 1,*766 1,951 1,833 1, ,096 2^096 Other foreigners Time 2/ (12) 966 1,257 1,271 1,594 1,819 1J819 2,052 2,054 2,199 1,811 1,935 1,886 1,895 1,663 1,666 2,116 2,359 3,796 3,744 4,82? 6,^ ,637i 6,878i 6,997i 7,067r 7,200r 7,297r 7,457r 7,499r 7,638r 7,614 7, ,598 U.S. Other Treasury, shortterm bills and certificates (13 ) ties liabili 2^ B ,502 1,664 1,604 1, ,876 1,924 1,896 1,804 1,908 2,370 2,177 2,116 2,133 2,022 2, ,312 Payable in foreign cuirencies (15) % 2/ 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 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 on the second line differ from those on the first line because those liabilities of U.S. banks to their foreign branches and those liabilities of U.S. agencies and branches of foreign banks to their head offices and foreign branches which ware previously reported as deposits are included in v"other shortterm liabilities"; certain accounts previously classified as "official institutions" are included with " banks"; and a number of reporting banks are included in the series for the first time. J?/ Second line includes $7 million increase in dollar value of foreign currency obligations revalued to reflect market exchange rates as of December 31, / Includes $15 million increase in dollar value of foreign currency liabilities revalued to reflect market exchange rates, p Preliminary. P Revised.

102 94 Treasury Bulletin End of calendar year or month CAPITAL MOVEMENTS Section I Liabilities to Foreigners Reported by Banks in the United States Table CMI2. ShortTerm Liabilities by Type of Liability Continued Part B International and Regional Organizations international and regional IMF gold investment: U.S. Treasury bills and certificates 1/ (In millions of dollars) Nonmonetary international and regional organizations 2/ Demand Deposits Time 3/ U.S. Treasury bills and certificates Other shortterm liabilities Payable in foreign currencies (7) (1) (2) (3) (4) (5) (6) , ,442 6 l j * , U f 2, { 2, , L j , , , f 1, { 1, " 1, /... 1, , ' 10*71 5/ f 1, ^ 1, ~ 1, , ,474 3, ,424 5, ,554 2, , ,701 2, , ,813 ' Jan... 4,625 lbb 230 2,890 1,335 4 Feb... 3,9l6r r 2, Mar... 4, ,743 1,092 3 Apr... 5, ,849 2,108 3 May... 6,56Qr r 2,977 3, ,729tr r 2,521 2, July... 3,835r r 2,1 1, ,216r ,990 1, Sept... 3* ,875 1, Oct... 3, , , , Dec. p... 2, , , , / Shortterm U.S. Government obligations at cost value, and deposits awaiting investment (less than $500,000 on all dates shown), 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 was reacquired by the International Monetaiy Fund. 2/ Principally the International Bank for Reconstruction and Development and the InterAmerican Development Bank; excludes Bank for International Settlements and European Fund. Includes differences between cost value and face amount of securities in imf gold investment account. 1/ Time deposits exclude negotiable time certificates of deposit, which are included in "Other shortterm liabilities." 4/ In addition, IMF gold investment included investment in U.S. Government bonds and notes which amounted to $109 million at end I960, $187 million at end 1961, and $61 million at end / 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. * Less than $500,000. p Preliminary. r Revised.

103 March 1978 Country.CAPITAL MOVEMENTS, 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 p Aug. Sept. Oct. Nov. Dec. P Jan. p 95 Europe* Austria BelgiumLuxembourg... 2,506 2,898 2,275 2,547 2,6 2,667 2,736 2,662 2,547 2, ,032 1,172 1,250 1, ,045 Finland France... 4,287 7,733 4,875 5,248 4,894 4,799 5,006 4,683 5,248 5,145 Germany... 9,429 4,357 5,965 7,030 4,413 4,289 5,280 5,580 7,030 8,595 Greece Italy... 2,577 1,072 3,206 6,862 5,538 5,792r 6,320 6, ,207 Netherlands... 3,234 3,411 3,007 2,876 3,328 3,216 3,088 2,996 2,876 2,951 Norway... 1, ,140 1,190 1, Portugal Spam Sweden... 1,138 2,286 1,693 2,718 1,782 2,483 2,734 3,136 2,718 2,717 Switzerland... 10,139 8,514 9,458 12,390 9,386 9,923r 9,757 9,884 12,390 12,111 Turkey * 187 United Kingdom... 7,584 6,886 10,004 14,035 10,226 11,427 11,096 12,119 14,035 12,484 Yugoslavia Other Western Europe... 4,073 2,970 2,672 1,799 1,855 1,839 1,948 1,0 1,799 1,771 Poland Other Eastern Europe Europe... 48,813 43,988 46,938 60,054 48,953 51,457r 52,0 54,369 60*054 59,380 Canada... 3,520 3,076 4,784 4,668 4,631 4,492 4,3 4,686 4,668 5,343 Latin America: Argentina ,147 1,538 1,465 2,022 2,187 2,421 2,594 1,465 1,796 Bahamas... 1,054 1,827 2,750 3,534 4,283 5,940 3,769 3,409 3,534 3,074 Brazil... 1,034 1,227 1,432 1,386 1,233 1,101 1, ,386 1,111 Chile Colombia ,017 1,213 1,164 1,156 1, 1,152 1,213 1,219 Cuba Ecuador Mexico... 1,770 2,066 2,848 2,804 2,806r 2,823 2,741 2,850 2,804 2,906 Panama ,099 1,140 2, ,302. 2,171 Peru Trinidad and Tobago i Uruguay Venezuela... 3,413 3,289 3,095 2,3, 2,887 3,037 3,212 3,780 2,3 3,001 Other Latin American Republics... 1,087 1,245 1,595 1,941! 1,763 1,714 1,735 1,753 1,941 1,8 Bermuda r British West Indies ,311 1,874 4,142 : 2,663 3,597r 3,525 3,300 4,142 4, i Other Latin America Toal Latin America... 11,754 14,942 19,026 23,573 ' 21,428r 24,478r 22,354 22,417 23,573 23,145 Asia: China, People's Republic of , China, Republic of (Taiwan) , , ,012 1,049 Hong Kong ,0 1 1,066 1, ,0 1,032 India i ,029 Indonesia... 1, Israel I Japan... 10,931 10,218 14,380 14,632 ll,695r ll,444r 13,272 14,835 14,632 14,472 Korea Lebanon , Malaysia Pakistan Philippines ! Singapore Syria Tnailand , MiddleEast oilexporting countries2/ 4,623 6,461 8,073 7,679 8,828 8,527r 7,933 7,365 7,679 7,980 Other Asia Asia... 21,130 21,539 28,472 29,217 ' 26,935r 26,463r 28,165 28,948 29,217 29,706 Africa: 1 Egypt ! Ghana Liberia Morocco South Africa Zaire ,814 2,239 1,116 1,154 1,430 1,564 1,403 1,214 1,154 1,178 Other Africa Africa... 3,551 3,373 2,300 2,532 3,177 3,023 2,786 2,560 2,532 2,503 Other countries: Australia... 2,742 2,014 1,1 1,154 1,007 l,206r 1,348 1,269 All other , other countries... 2,831 2,128 2,019 1,314 1,179 l,352r 1,500 1,411 1,314 1,132 foreign countries...,600 89, , , ,303r lll,265r 112, ,3 121, ,209 International and regional: International... 2,900 5,064 5,0 2,636 3,82 Or 3,186 3,079 2,922 2,636 2,995 European regional Latin American regional l83r Asian regional; African regional international and regional... 3,171 5,293 5,450 2, a? 3,555 3,396 3,258 2,899 3,245 Crand total... 94,771 94, , ,258 UO,519r 114,82 Or 116, , , ,454 JL/ Through December 31, 1975, Surinam included with Netherlands Antilles. p Preliminary. 2/ Includes Bahrain, Iran, Iraq, Kuwait, Oman, CAa+ar, Saudi Arania, ana the United Arab Emirates ^Trucia1 States). * r Less than $500,000. Revised. 2/ rn',lude= Algeria, Gabon, Libya, and Nigeria.

104 96 Treasury Bulletin CAPITAL MOVEMENTS Section I Liabilities to Foreigners Reported by Banks in the United States Table CMI4. ShortTerm Liabilities, by Type and Country, as of January 31, 1978 Preliminary (Position in millions of dollars) Shortterm liabilities payable in dollars Shortterm To foreign banks and official institutions To all other foreigners liabilities Country shortterm Treasury Treasury in U.S. U.S. payable liabilities Deposits 1/ bills and Other 1/ Deposits 1/ bills and Other 1/ foreign certificateicates certif currencies (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Europe: * 1 8 2,680 2, , ,045 1, * ,145 4, , ,595 8, , ^ * 2 * Italy... 6,207 6, ,357 1, Netherlands.... 2,951 2, , * 10 * * * 7 3 2,717 2, , * ,111 11,135 1,422 5,543 4, * * 12,484 11,497 1,077 2,988 7, Yugoslavia * * 1,771 1, * Poland U.S.S.R * 5 Other Eastern Europe * ,380 55,876 7,701 30,228 17,947 3,194 2, ,343 4,419 i no JJLx 3, Latin America: Argentina... 1, * ,074 2, , , * 8 * Chile * 3 1 Colombia... 1, * 7 * Cuba * 5 5 Ecuador Mexico , ,265 2, Panama ,171 1,478 1, * Peru * Trinidad and Tobago Uruguay * Venezuela... 3,001 1, ,489 1,454 * 35 2 Other Latin American Republics... 1, * 69 * Bermuda British West Indies... 4,213 3, , * Netherlands Antilles * Other Latin America * Latin America ,145 14,842 Q/C 10,216 8,0 7, H/4o 211 Asia China, People's Republic of (China Mainland) * China, Republic of (Taiwan)... 1, * Hong Kong... 1, India... 1, * 14 Indonesia * * Israel Japan... 14,472 14, ,328 2, * Korea Lebanon * * * Malaysia * * * Pakistan * Philippines * Singapore * 2 Syria * 1 1 * Thailand * * Other Asia... 8,401 7,824 1,198 3,193 2/ 3, * 2/ Asia ,706 27,680 3,748 16,144 7,788 1,965 1, Africa: Egypt * Ghana * Liberia * Morocco * South Africa * * 1 Zaire Other Africa... 1,714 1, / / 1 * Africa ,503 2,244 1, * 11 2 Qih<?r Counties: Australia All other * 10 3 other countries.... 1,132 1, foreign countries , ,118 16,734 49,886 39,498 14,385 11,842 vj. 2, International and regional: International... 2,995 2, , European regional * Latin American regional * * 11 Asian regional * * African regional international and regional.... 3,245 3, , Grand total , ,348 17,042 50,845 41,461 14,388 11,845 OL 2, / Deposits exclude negotiable time certificates of deposit, which are included in "Other" shortterm liabilities. Z f U.S. Treasury bills and certificates held in custody for the account of oilexporting countries in "Other Asia" and "Other Africa" amounted to $3,793 million. * Less than $500,000.

105 March CAPITAL MOVEMENTS Section I Liabilities to Foreigners Reported by Banks in the United States Table CMI5. ShortTerm Liabilities, Countries and Areas Not Regularly Reported Separately (Position at end of period in millions of dollars) Country Calendar year Apr Dec Apr Other Western Europe* Cyprus Iceland Malta Monaco Other Eastern Europe: Bulgaria Czechoslovakia Estonia n.a. German Democratic Republic n.a. Hungary Romania Other Latin American Republics* Bolivia Costa Rica Dominican Republic El Salvador Guatemala Guyana Haiti Honduras Jamaica Nicaragua Paraguay Surinam l/... 1/ 1/ 1/ 1/ Other Latin America: Belize French West Indies and French Guiana Other Asia* Afghanistan Bangladesh n.a. Burma n.a. Cambodia n.a. Jordan n.a. Nepal Sri Lanka Vietnam (formerly VietNam & North VietNam) Yemen (Aden) Other Africa* Ethiopia (including Eritrea) F.T.A.I. (French Somaliland) Ivory Coast Kenya Mozambique Southern Rhodesia Sudan Tanzania Tunisia Uganda n.a. Zambia Other Countries: New Zealand U.S. Trust Territory of the Pacific Islands n.a. Note: Data represent a partial breakdown of the amounts shown for the l/ Surinam included with Netherlands Antilles through December corresponding dates for the "Other geographical categories in the n.a. vot available, regular monthly series in the Treasury Bulletin.

106 98 CAPITAL MOVEMENTS Section I Liabilities to Foreigners Reported by Banks in the United States Table CMI6. LongTerm Liabilities by Type Treasury Bulletin End of calendar year or month /... longterm liabilities 1/ (2) (In millions of dollars) Official institutions. (3) Foreign countries Payable in dollars Banks (4) Other foreigners (5) International and regional Payable in foreign currencies (7) (1) (6) n.a. n.a. n.a. n.a. 2 2 n.a. n.a. n.a. n.a. 1 1 n.a. n.a. n.a. n.a. 7 7 n.a. n.a. n.a. n.a. 2 2 n.a. n.a. n.a. n.a. 7 7 n.a. n.a. n.a. n.a n.a. n.a. n.a. 42 n.a n.a. n.a. n.a. 106 n.a n.a. n.a. n.a. 311 n.a. 1, ( 2,546 1,858 1, ^ 2,560 1,863 1, ,166 2,389 2, ,490 1,600 1, , f 1, /... t 1, , , ,812 1, ,449r 2,123r 1, r ,781 2,295 1, ,002r l,677r r Feb... l,945r l,625r r l,981r l,647r r ,022r l,699r r ,247r l,2r 1, r ,393r 2,045r 1, r ,339r l,997r 1, r ,354r l,963r 1, r ,526 2,118 1, Oct... 2,579 2,147 1, ,747 2,315 1, ,781 2,295 1, ,720 2,231 1, / Dollarforeign currency breakdown not available prior to 1966; amounts coverage to those shown for the preceding date; figures on the second reported for earlier dates assumed to have been payable in dollars. line are comparable to those shown for the following date. 2/ Data on the two lines shown for this date differ because of changes in reporting coverage. Figures on the first line are comparable in n.a. Not available. p Preliminary. r Revised.

107 March 1978 CAPITAL MOVEMENTS Covin try Section I Liabilities to Foreigners Reported by Banks in the United States Table CMI7. LongTerm Liabilities by Country (Position at end of period m millions of dollars) Calendar year p Aug. Sept. Oct. Nov. Dec. p Jan. p Europe* * 6 * x x 2 1 * X X Belgium Luxembourg Denmark... * x * * * * * * X * ** * Germany * * * 1 * 1 1 * 1 X Italy Netherlands... * x Norway... * * * * * * * * X X Portugal... * * * X * * * * X 3 * Sweden... * 4 * * X X Switzerland Turkey... * x * * * * x * X X United Kingdom Yugoslavia... * x * Other Western Europe... 8 */ 2 5 * * * Poland... n. a. n. a. n. a U.S.S.R... * * Other Eastern Europe... x * X 1 1 x X * Europe Canada w Latin America: Argentina Bahamas Brazil Chile Colombia... * Cuba... * Ecuador... * * 1 1 * 1 * Mexico Panama Peru... * * * Trinidad and Tobago... * * * * * * * * X X Uruguay... * x * 1 * * * Venezuela M Other Latin American Republics ' Bermuda... * British West Indies... * * x * I8r 19 I8r Other Latin America... * x 2 * * 1 X X Latin America ' 140 Asia: China, People's Republic of 248r r * 2 * * * X X China, Republic of (Taiwan)... x * Hong Kong... x India... * * * * * * * x X X Indonesia... * * * Israel... * * Japan Korea... x * * * X X Lebanon... * * * K * * * X X X Malaysia... n. a. n. a. n.a. * * * x X X X Pakistan... n. a. n. a. n. a. X * * X X X X Philippines Singapore... * * * X * X 1 Syria... * * 1 1 Tnailand... * * MiddleEast oilexporting countries 2 / ,286 1, ,056 1,064 1,285 1,285 1,216 Other Asia X 1 * 4 2 X X Asia ,332 1,328 1,021 1,095 1,118 1,327 1,328 1,258 Africa: Egypt... * x * * * * * X X X Ghana... * x ~ Liberia... n. a. n. a. n. a. * * * * X X X Morocco... * X * * X South Africa... * * * * * X X X Zaire... * * * * * * * X X x Oilexporting countries 2/... x * * * < * 1 1 X X Other Africa * Africa Other com tries. Australia... * * * * * 1 * 1 X X All other... * x x * * 1 X X X other countries... * x X foreign countries ,397 2,l8Qr 2,408 2,040r 2,196 2,227 2, International and regional* International * x * * x X X Latin American regional Asian regional African regional... ~ international and regional liand total... 1,285 1,812 2,449s? 2,781 2,354** 2,526 2,579 2,747 2,781 2,720 1/ Through December 31, 1975, Surinam included with Netherlands Antilles. J/ ^ncludeo Algeria, Gabon, Libya, and Nigeria. 2/ Includes Bahrain, Iran, Iraq, Kwait, Oman, Qatar, Saudi Arabia, and * Less than $500,000. the United Arab Emirates (Trucial States). p Preliminary. n.a. Not available. r Revised.

108 100 Treasury Bulletin.CAPITAL MOVEMENTS. Section II Claims on Foreigners Reported by Banks in the United States Table CMII1. ShortTerm Claims by Type End of calendar year or month m i /..., / / / l/ / / 2/ / p Jan... Feb... Mar.., Apr.., May.., June., Juty., Aug.., Sept., Oct.., Nov.*, Dec.p, 1978Jan. p. shortterm claims (1) 2,199 2,542 2,599 3,594 f 4,719 { 4,777 5,101 5,887 7,411 7,957 7,632 7,735 7,819 7,853 8,583 8,606 8,711 r 9,578, 9^680 10,802 r13,170 13^272 >15,471 15,676 20,723 39,056 50,231 69,237r ,8l5r 63,850r 65,251r 65,734** 68,158r 69,831r 69,627r 6i,584** 71,095r 73,884** 74, ,571 (2) ,407 3,135 4,177 4,234 4, ,810 7, ,243 7,399 7, , 8,261 9,063 9,165 10,192 12,328 12'377 14,625 14,830 20,061 37,859 48,888 67,592r ,083r 6l,892r 63,354** 64,048r 66,395r 68,053r 67,980tr 66,666r 69,345r 71,884r 72, ,438 (3) W 1,268 1,309 1,297 1,646 1,660 1,953 1,5 2,652 2,773 2,968 2,970 3,139 3,141 3,137 3,150 3,165 3,281 3,278 3,051 5,674 5,671 7,660 11,287 13,200 I8,0l6r ,753r 15,877r 15,609r 16,053** l6,449r I6,052r 17,298r 16*504** 18,135r 18,040 17, ,402 Official institutions (In millions of dollars) Payable in dollars (4) (5) ,453 1,019 1, r r 1,018 1,007 1,085 1,048 1,0X9 1, ,374 1,403 1,566 1, ,603 1,616 1,697 1,946 1,943 1,720 2,975 2,970 4,538 7,332 7,635r 10,974** ,247r 9,662r 9,609r 10,294** 10,519r 10,020r 11,303** 10,412r ll,736r 11,305 11, ,442 (6) ,055 1,150 1,130 1,132 1,143 1,145 1,228 1,228 1, ,212 2,535 2,538 2,838 3,574 4,95Or 5,589** 5,961 5,239r 5,263r 5,211r 5,014** 4,959** 5,049r 5,153**,074**,392r 649,334 5,961 5,856 Other foreigners Collections outstanding for account of reporting banks and domestic, Acceptances made for account of foreigners customers(7) (8) ,007 1,135 1,268 1,272 1,367 1,288 1,511 1,552 1,733 1,954 2,015 2,389 2,475 2#75 3,269 3,276 4,307 5,637 5,467 5, ,868 6,190 6,339 6,317 6,417 6,352 6,200 6,025 6,005 6, , ,233 1,837 1,874 1,967 2,214 2,600 2,621 2,501 2,508 2,450 2,540 3,013 3;013 2,854 3,169 3,202 3,985 m 3,204 3,226 4,160 11,237 11,147 12,358 14,212 j.2,047 12,009 12,790 12,976 13,045 13,166 13,431 13,556 13,645 13,735 13,462 14,212 13,587 Other shortterm claims (9) (10) ,107, 842 1J679 i / 895 2,478 2,657 3,935 9,698 19,075 31,462? ,450r 28,138r i f $ g 30,584** 32,417r 30,89?r 30,406r 31,540** 34,104** 35, , ,196 1,342 1, ,732 1,959 1,897 1,686 1,764 1,779 l,648r l,9l8r l,750r 2,000 1, ,132 Payable in foreign currencies Deposits of reporting banks and domestic customers with foreigners (11) , ,126 1,0 1, ** l,028r 839r Foreign government obligations and commercial and finance paper..( 1 2 ) $ r Other shbrtterm claims..(13) ? 707 ^ r 658r / 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 fcre comparable to those shown for the following date. Data on the second line differ from those' on the first line because those claims of U.S. banks on their foreign branches and those claims of the U.S. agencies and branches of foreign banks on their head off ieeo anfl foreign branches which were previously reported as loans are included in other shortterm claims ; and a number of reporting banks are included in the serie for the first time. Preliminary. r Revised.

109 March CAPITAL MOVEMENTS Country Section II Claims on Foreigners Reported by Banks in the United States Table CMII2. Short Term Claims by Country (Toe it ion at enci 01 oor..pd ip n^liion* 01 u'lldrbj Calendar year p Aug. Sept. Oct. Nov. Dec.p Jan.p Europe Austria Belgium Luxembourg Denmark Finland France ,471 1,445 1,616 1,471 1,356 1,341 1,320 1,616 1,367 Germany Greece Italy ,284 l,011r l,065r 1,104 1,157 1,284 1,127 Netherlands Norway Portugal if Spam Sweden Switzerland Turkey United Kingdom... 2,580 4,718 6,277r 8,167 6,011 6,766r 6,623 6,369 8,167 10,806 Yugoslavia Other Western Europe Poland... n.a. n.a. n.a Other Eastern Europe Europe... 6,255 8,987 12,220r 15,461 12,274r 13,352 13,767 13,019 15,461 17,997 Canada... Latin America: 2,776 2,817 3,049 3,716 3,978 3,400 3,626 3,803 3,716 4,052 Argentina , , ,076 1,085 1,180 1,214 Bahamas... 3,405 7,570 15,336 19,678 13,647 15,564r 17,710r 18,115 19,678 18,739 Brazil... 1,418 2,221 3,322 3,076 3,077 3,011 3,121 2,962 3,076 2,937 Chile Colombia Cuba Ecuador Mexico... 1,972 2,802 3,432 2,997 3,46Gr 3,488 3,261 3,201 2,997 2,988 Panama ,052 1,257 1,262 1,463 1,063 1,431 1,652 1,262 1,800 Peru Trinidad and Tobago Uruguay Venezuela ,086 1,564 1,836 1,435 1,656 1,654 1,714 1,836 1,736 Other Latin American Republics , ,029 1,040 Bermuda British West Indies ,460 5,067r 6,650 5,637r 6,039r 5,116 5,537 6,650 6,360 Netherlands Antilles l/ Other Latin America r 50 74r Latin America... 12,377 20,532 34,270 40,419 32,831r 35,113r 36,831r 37,890 40,419 39,625 Asia: China, People's Republic of (China Mainland) China, Republic of (Taiwan) ,371 1,236 1,303 1,321 1,275 1,371 1,268 Hong Kong India Indonesia Israel Japan... 12,518 10,776 10,997 9,778 9,6l4r 9,303r 9,341 9,578 9,778 9,475 Korea ,561 I 1,714 2,069 2,069 2,001 1,998 1,876 2,069 2,208 Lebanon Malaysia... n.a. n.a. n.a Pakistan... n.a. n.a. n.a Philippines Singapore Syria Tnailand MiddleEast oilexporting countries 2/ ,312 1,583 1,369 1,340 1,531 1,783 1,583 1,525 Other Asia Asia... 16,226 16,057 17,672 17,765 I6,828r I6,566r 16,856 17,315 17,765 17,293 Africa* Egypt Ghana Liberia... n.a. n.a. n.a Morocco South Africa Zaire Oilexporting countries,2/ Other Africa Africa ,228 1,481 1,728 1,720 1,656 1,828 1,749 1,728 1,757 Other countries Australia All other other countries foreign countries... 39,055 50,229 69,232r 79,950 68,573r 71,085r 73,874r 74,714 79,950" 81,561 International and regional* International... * * 1! * * * 1 1 * European regional... 5 * * 2 Latin American regional... * 1 * Asian regional... * * * African regional... * * 1 1 * * * international and regional... * Grand total... 39,056 50,231 69,237r 79,960 68,584r 71,095r 73,884r 74,726 79,960 81,571 1/ Through December 31, 1975, Surinam included with Netherlands Antilles. / 2/ Includes Bahrain, Iran, Iraq, Kuwait, Oman, Qatar, Saudi Arabia, and than $500,000. p Preliminary. the United Arab Emirates (Trucial States). 2/ Includes Algeria, Gabon, Libya, and Nigeria. n.a. Not available, r Revised.

110 102 Europe: Country CAPITAL MOVEMENTS. Treasury Bulletin Accept ances made for account Section II Claims on Foreigners Reported by Banks in the United States Table CMII3. ShortTerm Claims, by Type and Country, as of January 31, 1978 Preliminary (Position in millions of dollars) Shortterm claims payable in dollars Shortterm claims payable Loans in foreign currencies shortterm claims (1) (2) (3) Foreign banks and official institutions (4) Other (5) Collections outstanding for account of reporting banks and domestic customers (6) of foreigners (7) Other (8) (9) Deposits of reporting banks and domestic customers with foreigners (10) Foreign government obligations and commercial and finance paper * BelgiumLuxembourg * Finland * 2 2 * * 1,367 1, * 79 Germany * 10 Greece * * * 1,127 1, * 14 Netherlands * 3 3 * * * * * * 4 Sweden * * 6 Turkey ^ United Kingdom... 10,806 10,683 1,313 lfm , * 19 Yugoslavia... L * 1 * * * Other Western Europe * Poland * U.S.S.R * * * * Other Eastern Europe * * * * Europe... 17,997 17,086 4,294 3, , Captada... 4,052 3, , Latin America: 1,214 1, * * * Bahamas... 18,739 18,700 1,228 1, , Brazil... 2,937 2,932 1, * 5 Chile Colombia * 5 Cuba * * Ecuador Mexico ,988 2,977 2,559 1,375 1, Panama... 1,800 1, , Peru * * * Trinidad and Tobago * * * Uruguay * * * Venezuela... 1,736 1,720 1, Other Latin American Republics... 1,040 1, Bermuda * * British West Indies... 6,360 6, , * 152 Netherlands Antilles * * * * Latin America... 39,625 39,375 10,197 6,339 3,858 1,129 2,553 25, Asia: China, People's Republic of (China Mainland) «. China, Republic of (Taiwan)... 1,268 1, , * 1 Hong Kong * * India * * * Indonesia * * * Israel ,5 11 * * * Japan... 9,475 9, ,013 4,347 1, ,208 2, , Lebanon * * Malaysia * * Pakistan * * * * 2 Singapore * 1 Syria * * Thailand * * * Other Asia Asia... 17,293 17,044 2,244 1, ,662 8,765 2, Africa; Egypt * * * Ghana * * Liberia * Morocco * * * * South Africa * 10 Zaire * * Other Africa * 1 Africa... 1,757 1, * 11 Australia All other * 3 * other countries foreign countries... 81,561 79,428 18,401 12,545 5,855 6,332 13,587 41,108 2, International and reeional: International... * * * * * European regional * 1 Latin American regional * * 7 Asian regional African regional... * * * international and regional * 9 Grand total... 81,571 79,438 18,402 12,546 5,856 6,342 13,587 41,108 2, * Less than $500,CXX)..(11) Other 02)

111 March 1978 End of calendar year or month CAPITAL M n v ir.m ir.m T g Section II Claims on Foreigners Reported by Banks in the United States longterm claims (1) Table CMII4. LongTerm Claims by Type (2) (In millions of dollars) (3) Payable in dollars Official institutions Loans Banks (5) Other forei^aers Other longterm claims (7) Payable in foreign currencies 1,174 n.a. n.a. n.a. n.a. n.a. n.a. n.a. 1,362 n.a. n.a. n.a. n.a. n.a. n.a. n.a. 1,545 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. 2,034 n.a. n.a. n.a. n.a. n.a. n.a. n.a. 2,160 n.a. n.a. n.a. n.a. n.a. n.a. n.a. 1963May 1/... f 2,293 2,293 2, , * \ 2,379 2,379 2, , * /... J 2,837 2,834 2, , [ 3,030 3,028 2, , /... / 3,971 3,971 3, , * ^ 4,285 4,283 3, , ,517 4,508 4, , ,180 4,162 3, , ,925 3,909 3, , ,567 3,552 3, , ,250 3,232 2, , ,075 3,050 2, , ,667 3,645 3, , /... { 4,954 4,4 4, , ,063 5,023 4, , ,996 5,924 5,446 1, , ,179 7,099 6,490 1, , ,536 9,419 8,316 1,375 1,567 5,374 1, ,890 11,750 10,093 1,432 2,232 6,429 1, ,644 12,389 10,671 1,942 2,384 6,344 1, Jan... 11,9% 11,813 10,193 l,432r 2,189 6,573r 1, Feb... 12,132 11,921 10,392 l,562r 2,232 6,598r 1, ,204 12,015 10,407 l,637r 2,194 6,576r 1, Apr... 12,458 12,257 10,531 1,664** 2,193 6,673** 1, May... 12,294 12,0 10,395 l,692r 2,262 6,442r 1, June... 12,186r ll,986r 10,290r l,679r 2,265 6,347r 1, July... 12,238r 12,037r 10,323 1,694** 2,226r 6,403** 1,713** 202 Aug... 12,453** 12,235r 10,504 1,741** 2,279 6,484 * l,731r ,631r 12,4l6r 10,609 l,785r 2,321r 6,5Q2r l,807r 216 Oct... 12,716 12,486 10,760 1,801 2,419 6,540 1, Nov ,338 12,106 10,421 1,819 2,289 6,313 Dec.p... 1, ,644 12,389 10,671 1,942 2,384 6,344 1, >78Jan ,762 12,522 10,830 1,934 2,423 6, Z.0 (8) 103 1/ Data on the two lines shown for this date differ because of changes n.a. Not available, in reporting coverage. Figures on the first line are comparable in p Preliminary, coverage to those shown for the preceding date; figures on the second * Less than $500,000. line are comparable to those shown for the following date. r Revised.

112 104 Country.CAPITAL MOVEMENTS. Section II Claims on Foreigners Reported by Banks in the United States Table CMII5. LongTerm Claims by Country (Position ax end of period m mill ons of dolla'u) Treasury Bulletin Calendar year I977 p Aug. Sept. Oct. Nov. Dec J? Jan. p Europe. Austria BelgiumLuxembourg Denmark Finland France Germany Greece Italy Netherlands Norway Portugal Spam r Sweden Switzerland Turkey United Kingdom ? 3 1,0 11r 984r Yugoslavia Other Western Etirope Poland... n. a. n. a. n. a U.S.S.R Other Eastern Europe Europe... 1,908 2,704 3,328r 3,484 3,745r 3.707r 3,664 3,40? 3,484 2,439 Canada Latin America: Argentina Bahamas Brazil ,16 6 1,580 1,580 1, ,5 1,541 1,580 1,577 Chile Colombia r 106r Cuba * * Ecuador Mexico ,412 1,925 l,504r 1,714 1,859 1,863 1,925 1,920 Panama Peru Trinidad and Tobago * Uruguay Venezuela Other Latin American Republics ^ Bermuda V7t 18 *3, 21r British West Indies... * Netherlands Antilles 2/ Other Latm America Latin America... Asia* 2,614 3,4^8 4,856r 5,776 5,165r 5,381r 5,542 5,572 5,776 5,1 China, People s Republic of (China Mainland) * * * * * * 3 China, Republic of (Taiwan) Hong Kong India Indonesia Israel Japan Korea Lebanon Malaysia... n. a. n. a. n. a Pakistan... n.a. n.a. n. a Philippines Singapore Syria... * * * * * * * * Tnailand MiddleEast oilexporting countries r Other Asia Asia... 1,619 1,795 1,904 1,776 1,8*6 1,872 1,768 1,742 1,776 1,797 Africa: Egypt Ghana... * Liberia... n. a. n. a. n. a Morocco... 1 * South Africa Zaire Other Africa Africa Other countries: Australia All other other countries foreign countries... 7,171 9,504 11,863 12',572 12,384r 12,564r , ,572 32,6 International and regional: International European regional Latin American regional Asia regional * * * * African regional... international and regional = Grand total... 7, ,898 12,644 " 12,453r 12,63lr 12,716 12,338 12,644 12,762 1/ Through December 31, 1975, Surinam included with Netherlands Antilles. 2/ Includes Bahrain, Iran, Iraq, Kuwait, Oman, Qatar, Saudi Arabia, and * ter, than $500,000. p Preliminary. the United Arab Emirates (Trucial States). n.a. Not available, r Revised. 2/ Includes Algeria, Gabon, Libya, and Nigeria.

113 March 1978 Country fiapttat. M f l V R M B W T S Section II Claims on Foreigners Reported by Banks in the United States Table CMII6. LongTerm Claims, by Type and Country, as of January 31, 1978 Preliminary longterm claims (1) (Position in millions of dollars) (2) Longterm claims payable in dollars Loans (3) Other (4) Longterm claims payable in foreign currencies (5) Europe * * Turkey * * Europe.... 3,439 3,354 2, Argentina Bahamas ,577 1,577 1, Ecuador ,920 1,7 1, Peru * * * Venezuela Other Latin American Republics * Bermuda British West Indies * 16 Netherlands Antilles Latin America... 5,1 5,885 5, Asia China, People's Republic of * China, Republic of (Taiwan) Hong Kong Indonesia Lebanon * Pakistan Singapore * * * Thailand Other Asia Asia... 1,797 1,787 1, Africa Egypt Morocco * South Africa Zaire Other countries other countries foreign countries... 12,6 12,489 10,805 1, J^ernat.ional and egjo^l International European regional * * Asian regional... * * * African regional... international and regional Grand total ,762 12,522 10,830 1, * Less than $500,00Q. 105

114 106 Treasury Bulletin CAPITAL M ftv E M R W T fi End of calendar year or quarterend month 1/ Section III Liabilities to Foreigners Reported by Nonbanking Concerns in the United States liabilities I960 2/... f Mar. 2 j... June 2/... ( 674 V. 6 Table CMIII1. Liabilities by Type (In millions of dollars) Shortterm liabilities Payable in dollars Payable in foreign currencies (1) (2) (3) (4) (5) Longterm liabilities ! ^ 70 j ^ 76 J f ^ Dec June 2/... f 778 ^ 817 Dec. /... f June 2J... f 763 \ J J ^ J Dec. 2/ /... [ 943 "I I 958 ) f 136 ^ ,419 1, ZJ... [ 1,784 1,371 1, V M 1 5 1,386 1, ,737 1,608 1, , /... f 3,511 1,786 1, ,725 V, 4,428 2,124 1, ,304 5,780 2,677 2, , /... ( 5,863 V 5,901 2,704 2,763 2,229 2, ,159 3, /... f 6,659 3,119 2, ,540 \ 7,017 3,414 2, ,603 7,899 4,012 3, ,886 9,799 5,922 5, ,877 10,345 6,018 5, , Sept... 10,218 6,427 5, ,7 Dec... 10,164 6,597 5, , Mar... 10,086 6,582 5, ,504 June... 9,760 6,421 5, ,338 Sept. p... 10,486 7,119 6, ,366 Note* Breaks in series arising from changes in reporting coverage which amount to $5 million or less for any year are not shown; in such for earlier quarter ends when the reporting coverage changed. 2J Data on the two lines shown for this date differ because of changes cases, only the figure comparable to that for the following date is in reporting coverage. Figures on the first line are comparable in shown. coverage to those shown for the preceding date; figures on the second 1/ Data are shown for calendar year ends and for most recent five quarter line are comparable to those shown for the following date, ends for which figures are available. Data are also shown p Preliminary

115 March CAPITAL MOVEMENTS. Section III Liabilities to Foreigners Reported by Nonbanking Concerns in the United States Table CMIII2. ShortTerm Liabilities by Country (Position at end of period in millions of d o l l a r s ) Calendar year Country / Sept. Sept. p Europe: Austria... BelgiumLuxembourg... Denmark... Finland... France... Germany... Greece... Italy... Netherlands... Norway... Portugal... Spain... Sweden... Switzerland... Turkey... United Kingdom... Yugoslavia... Other Western Europe. Poland... U.S.S.R... Other Eastern Europe. Europe... Canada... Latin America: Argentina... Bahamas 2/... Brazil... Chile... Colombia... Cuba... Ecuador... Mexico... Panama... Peru... Trinidad and Tobago... Uruguay... Venezuela... Other Latin American Republics. Bermuda... British West Indies... Netherlands Antilles.2 /... Other Latin America... Latin America. Asia: China, People s Republic of (China Mainland)... China, Republic of (Taiwan)... Hong Kong... India... Indonesia... Israel... Japan... Korea... Lebanon... Malaysia... Pakistan... Philippines... Singapore... Syria Tnailand... MiddleEast oilexporting countries 4/ Other Asia... Asia. Africa: Egypt... Ghana... Liberia... Morocco... South Africa... Zaire... Oilexporting countries 2/ Other Africa... Africa. Other countries: Australia... All other... other countries... foreign countries... International and regional: International... European regional.... Latin American regional... Asian regional... African regional... international and regional. Grand total... 3,119 3, , , n. a. n. a. n. a. n. a. * * ,830 1,986 2,063 3, * * 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. 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 ,119 3,414 4,012 5,764 * * * * * 158 * * * * * 158 4,012 5,922 1/ Data in 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. 2/ Through December 31, 1972, Bermuda included with Bahamas. 2/ Through December 31, 1975, Surinam included with Netherlands Antilles , n.a , * n.a n.a n.a. n.a n.a. n.a. n.a. 14 n.a. n.a , n.a. n.a , n.a. 19 JA 2,387 3 a * n.a n.a n.a. n.a , n.a. n.a. n.a. 28 n.a. n.a. 23 1,260 1, n.a. n.a ~" , ,018 6, n.a , * n.a n.a n.a. n.a , % n.a. n.a. n.a. 53 n.a. n.a , * , ,268 1, ,040 2, n.a. * n.a Z!L. 72 6,388 6, , , * , , ,582 6,421 U Includes 'Bahrain, Iran, Iraq, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates (Trucial States). 2/ Includes Algeria, Gabon, Libya, and Nigeria. * Less than $500,000. p Preliminary, n.a. Not available a ,3U * , ,279, 7 2, = = = = = 6,965 * 154.1^4,,. 7,119

116 108 Country.CAPITAL MOVEMENTS 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, 1977 Preliminary (Position m millions of dollars) shortterm liabilities Payable in dollars Treasury Bulletin Payable in foreign currencies Europe: Austria BeljiumLuxembourg Denmark Finland * France , Germany Greece * Italy Netherlands Norway Portugal * Spain Sweden Switzerland Turkey... i United Kingdom Yugoslavia Other Western Europe Poland * U.S.S.R * Other Eastern Europe * Europe... 2,314 2, Canada Latin America: Argentina Bahamas Brazil Chile * Colombia * Cuba... * * * Ecuador * Mexico Panama Peru * Trinidad and Tobago Uruguay * Venezuela Other Latin American Republics Bermuda * British West Indies Netherlands Antilles * Other Latin America * Latin America... 1, Asia: China, People's Republic of (China Mainland) * China, Republic of (Taiwan) Hong Kong India Indonesia * Israel Japan a 63 Korea * Lebanon * Malaysia * Pakistan * Philippines Singapore Syria * Thailand Other Asia , Asia... 2,492 2, Africa: Egypt * Ghana * Liberia * Morocco South Africa Zaire Other Africa Africa Other countries: Australia All other other countries foreign countries... 6,965 6, International and regional: * * Grand total... 7,119 6, Asian regional... African regional... * Less than $500,000.

117 March CAPITAL M OVEM ENTS. 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) Calendar year Country / Sept. Mar. Sept. p Europe: Austria... Belgium Luxembourg... Denmark... Finland... France... Germany... Greece... Italy... Netherlands... Norway... Portugal Spain... Sweden... Switzerland... Turkey... United Kingdom... Yugoslavia... Other Western Europe. Poland... U.S.S.R... Other Eastern Europe. Europe... Canada... Latin America: Argentina... Bahamas 2/... Brazil.7... Chile... Colombia... Cuba... Ecuador... Mexico... Panama... Peru... Trinidad and Tobago... Uruguay... Venezuela... Other Latin American Republics. Bermuda... British West Indies... Netherlands Antilles %/... Other Latin America... Latin America. Asia* China, People's Republic of (China Mainland)... China, Republic of (Taiwan)... Hong Kong... India... Indonesia... Israel... Japan... Korea... Lebanon... Malaysia... Pakistan... Philippines... Singapore... Syria... Tnailand... MiddleEast oilexporting countries j j Other Asia... Asia. Africa: Egypt... Ghana... Liberia... Morocco... South Africa... Zaire... Oilexporting countries i/.. Other Africa... Africa. Other countries: Australia... All other... other countries... foreign countries... International and regional* International.... European regional.... Latin American regional.., Asian regional.... African regional.... international and regional, urana total... 1/ 2/ y * * 475 * 949 2, n. a n. a. n. a n. a. n. a. n. a. 5 n. a. n. a. 495 n. a. n. a ,540 3, * * 983 2, n. a n. a n. a. n.a * n. a. n. a. n. a. 5 n. a. n. a. 503 n. a. n. a. 3, * * * 1,112 2, n. a. 34 * n. a. *1 7 n. a. n. a * n. a. n. a. n. a. 6 n.a. n. a. 531 n. a. n. a ,886 3,603 3, * * * 1,236 * 1 n. a. 9 3, n. a. 37 * n. a. *1 7 n. a. n. a * n. a. n. a. n. a. 6 n. a. n. a n. a. n. a ,877 3,877 Data on the two column shown for this date differ because of changes 4/ in reporting coverage. Figures in the first column are comparable in coverage to those shown for the preceding date; figures in the second 5/ column are comparable to those shown for the following date. Through December 31, 1972, Bermuda included with Bahamas. * p Through December 31, 1975, Surinam included with Netherlands Antilles. n.a, * * * 1,631 * 1 n. a. 19* 3, n. a. 33 * n. a. *2 6 n. a. n. a * n. a. n. a. n.a. 7 n. a. n. a n. a. n. a ,327 4, * * * * 1 * * * * * 1 3 1,470 1,420 1,388 * * * * 1 1 n. a. n. a. * * * * 2,858 2,725 2,655, n. a. n. a. * * * * n. a. n. a. * * * n. a. n. a. 2 n. a. n. a * * * * * * * * * * * * n. a. n. a. * n. a. n. a. * n. a. n. a. * n. a. n. a. * n. a. n. a. * 1 ( 1 ( I * * * * n. a. n. a. * n. a. n. a. * * * * * 1 '1 * * 1 1 ( I * * ,7 3,504 3,7 3,567 3,504 j * * , , ,338 3,338 Includes Bahrain, Iran, Iraq, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates (Trucial States). Includes Algeria, Gabon, Libya, and Nigeria. Less than $500,000. Preliminary. Not available * * , , ,366 3,366

118 110 Treasury Bulletin End of calendar year or quarterend month 1/.CAPITAL MOVEMENTS. Section IV Claims on Foreigners Reported by Nonbanking Concerns in the United States claims Table CMIV1. Claims by Type (In millions of dollars) Ponrfi*h")0 rajauxc nyi JLI1 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 ii) (21 (32 (4) I5L * , I960 2J... f 1,775 V 1* Mar. 2/... f 1,633 ^ 1, June 2/... Dec. 2/ Mar. 2/... June 2/... Dec. 2/... Dec. 2/... f 1,895 ^ 1,934 f 2,099 V 2,117 2,138 f 2,443 2,678 f 2,809 ^ 2,867 f 2,929 2,979 f 3,048 ^ \ 3,164 J f 2,854 { 2,922 f 3,297 \ 3,245 f 3,738 \ 3, /... f 3,565 ^ 3, , /... f 4,483 V 4,581 1,432 1,505 1,248 1,305 1,496 1,528 1,646 1,664 1,636 1,807 1,974 2,051 2,098 2,113 2, ,181 1,208 1,323 1,340 1,335 1,475 1,598 1,625 1,668 1,712 1, ^ 192 J A 200 J 2,282 1, f 766 ^ 882 2,131 2,188 2,482 2,430 2,776 2,853 2,397 2,299 2,628 2,946 3, ,572 3, /... f 5,925 V 6, , /... f 8,303 ^ 8, j... f 9,094 \ 9,960 3,710 4,159 4,160 5,185 5,000 5,723 6,294 1,739 1,778 2,000 1,952 2,306 2,338 2,000 1, J ,081 1,169 1,139 2, ,256 2,529 2,599 3,173 3,124 3,532 3,579 4,535 4,467 5,074 5, ,537 1, , , , , ,118 3, , , ,529 8,471 7, , ,806 11,263 10, , ,047 12,128 11, ,9 1976Sept... 18,164 13,160 12, Dec ,077 14,154 13, , Mar... 19,842 14,951 13, ^8 June ,968 16,144 15, ,824 Sept. p... 19,452 14,866 13, ,586 Note: Breaks in series arising from changes in reporting coverage which amount to $5 million or less for any year are not shown; in such cases, only the figure comparable to that for the following date is shown. 1/ 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. 2/ 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.

119 March CAPITAL MOVEMENTS Section IV Claims on Foreigners Reported by Nonbanking Concerns in the United States Table CMIV2. ShortTerm Claims by Country (Position at end of period in millions of dollars) Calendar year Country *972 1 / Sept. Dec. Mar. June Sept. p Europe: Germany Italy >52 Netherlands Spain Sweden Switzerland ,044 1,213 1,545 1,847 1,903 2,367 2,446 2,475 3,027 2,413 Yugoslavia n.a. n.a. n.a. n.a. n.a. n.a. n.a Other Eastern Europe Europe... 2,309 2,502 3,368 4,450 4,490 5,158 5, ,1, Canada ,235 1,613 2,099 2,187 2,458 2,426 2,563 2,477 Latin America* Bahamas 2 j ,384 1,869 2,231 1,831 Brazil Chile Colombia Cuba * Ecuador... n.a. n.a. n.a. n.a. n.a. n.a. n.a Mexico Panama Peru Trinidad and Tobago... n.a. n.a. n.a. n.a. n.a. n.a. n.a Uruguay Venezuela Other Latin American Republics Bermuda... n.a. n.a. n.a. n.a. n.a. n.a. n.a British West Indies... n.a. n.a. n.a. n.a. n.a. n.a. n.a Netherlands Antilles 2/ Other Latin America , Latin America... 1,289 1,500 1,840 2,335 2,366 2,828 3,575 4,397 4,925 4,489 Asia: China, People's Republic of * * China, Republic of (Taiwan) ' Hong Kong India Indonesia Israel Japan ,230 1,132 1, ,027 Korea Lebanon... n.a. n.a. n.a. n.a. n.a. n.a. n.a Malaysia... n.a. n.a. n.a. n.a. n.a. n.a. n.a Pakistan... n.a. n.a. n.a. n.a. n.a. n.a. n.a Philippines Singapore... n.a. n.a. n.a. n.a. n.a. n.a. n.a Syria... n.a. n.a. n.a. n.a. n.a. n.a. n.a Tnailand f MiddleEast oilexporting countries4 Other Asia... J ( I Asia ,065 1,689 2,326 2,625 2,401 2,276 2,316 2,315 2,390 Africa: Egypt Ghana... n.a. n.a. n.a. n.a. n.a. n.a. n.a Liberia... n.a. n.a. n.a. n.a. n.a. n.a. n.a. Morocco JO fl & South Africa Zaire Oilexporting countries 5/... f Other Africa... J \ Africa Other countries: =======d 346 Australia All other LI other com tries foreign countries... 5,723 6,294 8,471 11,262 12,127 13,159 14,153 14,949 16,143 14,865 International and regional: * * * * * * * 2 * 1 * * * * * * * * * * * * * * * * * * * * African regional... * international and regional * * ,723 6,294 8,471 11,263 12,128 13,160 14,154 14,951 16,144 14,866 1/ Data on the two columns shown for this date differ because of changes 4/ Includes Bahrain, It an, Iraq, Kuwait, Oman, Qatar, Saudi Arabia, in reporting coverage. Figures in the first column are comparable in coverage to those shown for the preceding date; figures in the second and the United Arab Emirates (Trucial States), 5/ Includes Algeria, Gabon, Libya, and Nigeria, column are comparable to those shown for the following date. 2/ Through December 31, 1972, Bermuda included with Bahamas. p Preliminary. * Less than $500,000. 2/ Through December 31, 1975, Surinam includes with Netherlands Antilles. n.a. Not available.

120 112 Country Europe: Austria... Bel jium Luxembourg... Denmark... Finland... France... Germany... Greece... Italy... Netherlands... Norway... Portugal... Spain... Sweden... Switzerland... Turkey... United Kingdom... Yugoslavia... Other Western Europe. Poland... U.S.S.R... Other Eastern Europe. Europe... Canada.... Latin America: Argentina... Brazil... Chile... Colombia. Cuba... Ecuador.. Mexico... Peru... Trinidad and Tobago... Uruguay... Venezuela... Other Latin American Republics. Bermuda... British West Indies... Netherlands Antilles... Other Latin America... Latin America... Asia: China, People's Republic of (China Mainland)... China, Republic of (Taiwan). Hong Kong... India... Indonesia... Israel... Japan.... Korea.... Lebanon.... Malaysia.... Pakistan.... Philippines.... Singapore.... Syria... Thailand.... Other Asia.... Asia... Africa: Egypt... Ghana. Liberia... Morocco... South Africa. Zaire... Other Africa. Africa... Other countries: Australia.... All other... other countries... foreign countries... International and regional: International.... European regional.... Latin American regional.... Asian regional.... African regional.... International and regional., Grand total.... * Less than $500,000..CAPITAL MOVEMENTS Section IV Claims on Foreigners Reported by Nonbanking Concerns in the United States Table CMIV3. ShortTerm Claims, by Type and Country, as of September 30, 1977 Preliminary (Position an millions of dollars) shortterm claims Payable in dollars Payable in Deposits with banks abroad in reporter's own name * * * * * ,413 2, * * * * 5,009 4, ,477 2,10 1,...62,., * 1,831 1, * * * * * * * * * * 8 8 * * 4,489 4, * * 1, * * « * * ,390. 2, * * * ,865 13, * * ,866 13, Treasury Bulletin Other shortterm claims payable in foreign currencies * * * * JLLL

121 March CAPITAL MOVEMENTS, Section IV Claims on Foreigners Reported by Nonbanking Concerns in the United States Table CMIV4. ShortTerm Liquid Claim s Reported by Large Nonbanking Concerns by Type (In millions of dollars) / / / / / End of calendar year or month (2) ,306 1,068 1, ,295 1,205 1,615 1,966 2,641 2,660 3,042 4,788 5,778 Payable in dollars Deposits Demand Time (3) (4) , , ,092 1,078 1,446 1,0 2,604 2,5 2,710 4,415 5,346 Shortterm investments 1/ (5) (6) Payable in foreign currencies Deposits Demand Time Shortterm investments 1/ (7) (8) (9) Dec Jan.. Feb.. lifer.. Apr.. May.. June. July., Aug.. Sept., Oct.. Nov.. Dec.. 5,468 5,412 5,696 6,451 6,441 7,478 7,679 7,444 7,735 6,858 7,623 7,587 6,709 4,788 4,693 4,984 5,776 5,707 6,783 6,4 6,690 6,998 6,163 6,900 6,671 5,778 4,415 4,325 4,607 5,321 5,125 6,264 6,424 6,246 6,475 5,721 6,396 6,196 5, Q , Note: Data represent the'liquid assets abroad of large noribanking 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 CMIV1 through CMIV3. 2/ 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 2/ Data on the two lines shown for this date differ because of changes in reporting coverage or classification. Figures on the first line are comparable to those shown for the preceding date; figures on the second line are comparable to those shown for the following date. Table CMIV5. ShortTerm Liquid Claims Reported by Large Nonbanking Concerns by Country Country Calendar year Aug. Sept. Oct. Nov. Dec. BelgiuutLuxembourg France Germany Netherlands Switzerland United Kingdom... 1,128 1,350 1,306 1,837 1,977 2,195 1,781 1,858 2,097 1, ,156 1,539 1,705 1,930 1,607 1,936 1,831 1,705 Bahamas ,264 1,755 2,220 1,765 2,361 2,117 1, All other countries 1/ I ,276 1, ,185 3,357 3,799 5,468 6,709 7,735 6,858 7,623 7,587 6,709 Note: Data represent the liquie assets abroad of large nonbanking con 1/ Includes the liquid claims of $500 or more held by reporting cerns in the United States. They are a portion of the total claims on concerns in any country not listed above, foreigners reported by nonbanking concerns in the United States and are included in the figures shown in Tables CMIV1 through CMIV3.

122 114 Treasury Bulletin Country CAPITAL MOVEMENTS 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 of December 31, 1977 shortterm liquid claims (1) (Position in millions of dollars) Payable in dollars Deposits Shortterm investments 1/ (4) Payable in foreign currencies Deposits Shortterm investments 1/ (7) (2) (3) (5) (6) * * * Germany Italy... 3 * * 2 2 i ,977 1,895 1, ,705 1, Bahamas... 1,755 1,699 1, ,709 5,778 5, 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 that are included in the series published in Tables CMIV1 through CMIV3. 1/ Negotiable and other readily transferable foreign obligations payable on demand or having a contractual maturity of not more than one year from the date on which the obligation was incurred by the foreigner. 2/ Includes the liquid claims of $500 thousand or more held by reporting concerns in any country not listed above. * Less than $500,000.

123 March CAPITAL MOVEMENTS 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) Calendar year I Country / i Sept. Dee. Mar. June Sept. p Europe: Belgium^ Luxembourg Denmark * France Germany Greece Italy Netherlands Norway Portugal Spain Sweden Switzerland Turkey United Kingdom Yugoslavia Other Western Europe Poland... n. a. n. a. n. a. n. a. n. a. n. a. n. a * * Other Eastern Europe Europe ,051 1, Canada ,141 ~ 1,164 1,283 1, ,507 1,530 1,475 1,486 1,438 Latin America: Argentina Bahamas 2/ Brazil Chile Colombia Cuba Ecuador... n. a. n. a. n. a. n. a. n. a. n. a. n. a Mexico Panama Peru Trinidad and Tobago... n. a. n. a. n. a. n. a. n. a. n. a. n. a Uruguay Venezuela Other Latin American Republics ; Bermuda... n. a. n. a. n. a. n. a. n. a. 1 n.a. n. a British West Indies... n. a. n. a. n. a. n. a. n. a. n.a. n. a. 2 2 * Netherlands Antilles 2/... * * , Other Latin America Latin America ,061 1,3 1,640 1,637 1,521 1,489 1,457 1,371 Asia: 1 China, People's Republic of 10 China, Republic of (Taiwan) Hong Kong India Indonesia Israel Japan Korea Lebanon... n. a. n. a. n. a. n. a. n. a. n. a. n. a Malaysia... n. a. n. a. n. a. n. a. n. a. n. a. n. a Pakistan n. a. n. a. n. a. n. a. n. a. n. a. n.a Philippines Singapore... n. a. n. a. n. a. n. a. n. a. n. a. n. a Syria... n. a. n. a. n. a. n. a. n. a. 1 n.a. n. a. Tnailand... N C MiddleEast oilexporting countries y I f Other Asia... J V Asia Africa: Egypt * * 2 Ghana... n. a. n. a. n. a. n. a. n. a. n. a. n. a. Liberia... n. a. n. a. n. a. n. a. n. a. 1 n. a. n. a Morocco... * * * 1 1 * 1 1 * * South Africa Zaire r Oilexporting countries jj/... f i 1 6 Other Africa... J I Africa Other countries: Australia... All other other countries foreign countries... 3,366 3,662 4,054 4,538 4,3 4,999 4,5 4,875 4,809 4,571 International and regional: International... European regional... Latin American regional Asian regional... * African regional... international and regional Grand total... 3,370 3,666 4,057 4,544 4,9, 5,004 4,922 4,8 4,824 4,586 1/ Data an the two columns shown for this date differ because of changes 2/ Through December 31, 1975, Surinam included with Netherlands Antilles, in reporting coverage. Figures in the first column are comparable in i j Includes Bahrain, Iran, Iraq, Kuwait, Oman, Qatar, Saudi Arabia, and coverage to those shown for the preceding date; figures in the second the United Arab Emirates (Trucial States), column are comparable to those shown for the following date. jj/ Includes Algeria, Gabon, Libya, and Nigeria. 2/ Through December 31, 1972, Bermuda included with Bahamas. p * Preliminary. Less than $500,000. n.a. Not available.

124 116.CAPITAL MOVEMENTS. Section V Transactions in LongTerm Securities by Foreigners Reported by Banks and Brokers in the United States Table CMV1. Foreign Purchases and Sales of LongTerm Domestic Securities by Type Treasury Bulletin Calendar year or month p Jan..., Feb..., Mar..., Apr..., May..., June.., July.., Aug..., Sept.. Oct..., Nov... Dec.p. 1978Jan.p., (In millions of dollars; negative figures indicate net sales by foreigners or a net outflow of capital from the United States) (1) Marketable Treasury bonds and notes Net foreign purchases Foreign countries International Gross Official Other foreign institutions ers foreign^ and purchases regional (2) (3) (4) (5) ,672 1, ,316 3, ,995 1, ,096 5, ,823 20, , ,076 1, , i l,151r 24,451 1, ,238 1,048 59,151 3, ,483 2,493 71,257 3,052 65, , ,481 1, ,702 1, , ,224 1,217 1,730 1,744 1,780 1,867 1,149 1, ,414 4,358 2,73 8 3,382 8,898 25,610 39,797 1,932 3,099 3,000 a, 424 l,2r 3,557r 1,592 5,456 4,626 4,846 5,002 2,351 3,380 Gross foreign sales (6) 1, ,603 1,231 2,508 1,196 1,487 1,153 1, ,043 2,433 3,854 6,903 17,514 16,974 1,422 1,594 1,925 1, ,306 1,143 1,589 1,665 1,392 1,899 U.S. Gov't, corporations and Federallysponsored agencies Net foreign purchases (7) 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. 2, Gross foreign purchases (8) 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, Gross foreign sales (9) 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. 1, I Net foreign purchases (10) , ,964 1, ,881 1,961 1, ,207 1,622 Corporate and other securities Bonds 1/ Stocks Gross foreign purchases (ID ,553 2,243 4,446 3,054 2,499 2,967 4,723 5,828 8,621 5,408 5,529 3, & 169r r 326r Gross Net Gross foreign foreign foreign purchases purchases (12) (13) (14) , , , , , , , , ,740 1, ,033 2,481 2,270 13,118 1,853 1,487 12,429 1, ,927 2, ,626 2,842 2,188 14,361 3,867 2,790 12,767 7, ,636 4,642 4,678 15,355 4,322 2,743r 18,227 1,847 2,675 14, , , , \u. 232r 157r 252r l,202r r 1, , , , , ,003 Gross foreign sales (15) 1,454 1,862 1,775 2,745 2,149 2,527 3,425 4,133 5,074 7,276 10,848 10,942 8,301 10,894 12,173 9,978 7,096 10,678 15,485r 11,479 1,131 1, r l,163r / Data include transactions in issues of states and municipalities. Through December 1976, data also included transactions in issues of U.S. Government corporations and Federallysponsored agencies. P n.a. Preliminary. Not available. Revised. Table CMV2. Foreign Purchases and Sales of LongTerm Foreign Securities by Type (In millions of dollars; negative figures indicate net sales by foreigners or a net outflow of capital from the United States) Net foreign Foreign bonds Foreign stocks Calendar year purchases or month of foreign Net foreign Gross foreign Gross foreign Net foreign Gross foreign securities purchases purchases sales purchases purchases (1) (2) (3) (4) (5) (6) Gross foreign sales (7) ,363 1, , , , , , ,093 2, ,044 1, , , ,242 1,198 2, ,778 2, ,320 1,163 2,024 3, , ,695 1,380 2,306 3, ,252 1, ,547 1,029 1,552 2, ,519 2, ,490 2, , ,687 2, ,385 1, ,031 1,901 2, ,532 2, ,474 2, ,729 1, ,034 2,218 1,036 3,254 I84 1,907 1, ,514 6,326 2,383 8, ,542 1, ,053 8,730 4,932 13, ,937 2, p... 5,409 5,005 8,420 13, ,265 2, Jan... 98r 79r * Feb a Mar r 80r 623r 704r Apr... 82r 39r 578r May r 865r 601r l,466r r 780r 63 lr 1,4122* July r 781r 985r l,067r 1,0042* 847r l,851r r 650r 695r l,345r Oct , Nov , Jan.p , p Preliminary. * Revised.

125 March 19J8 CAPITA!, MOVEMENTS 117 Section V Transactions in LongTerm Securities by Foreigners Reported by Banks and Brokers in the United States Table CMV3. Net Foreign Transactions in Marketable Treasury Bonds and Notes by Country (In millions of dollars; negative figures indicate net 3ales bn foreigners or a net outflow of capital from the United States) Calendar Year Country p Aug. Sept. Oct. Nov. Dec. p Jan. p Europe* * * 10 * 2 * * BelgiumLuxembourg * * 1 * * * * * * * * , * * * 10 * * Italy... 1 * * * 1 * * Netherlands * * * * * * * * * * * * * * * * * * 25 Switzerland Turkey... * * ,403 1,539 1,489 2, Yugoslavia... Other Western Europe Poland... n. a. n. a. n. a. Other Eastern Etirope... * * * Europe ,245 11,586 2,256 1,682 2,440 1, Canada Argentina... * * * 1 * * * Bahamas... * * 1 1 * * * * Brazil... * * * * * * * Chile... * * * * * Colombia Cuba... Ecuador... n. a. * * Mexico.... * 20 1 * * * * * * Panama... * * 10 5 Peru... * * Trinidad and Tobago... n. a. Uruguay... * * Venezuela... * * * 10 * 16 2 Other Latin American Republics... * * 8 11 * * Bermuda... n. a. * 3 15 * * * * British West Indies... n. a. * 1 * * * * Other Latin America....?. * 3 Latin America Asia: " China, People's Republic of (China Mainland)... China, Republic of (Taiwan)... * * 8 8 Hong Kong... * * * India... * Indonesia... Israel... * * 1 * * * * Japan... 1, , Korea Lebanon... n. a. * * Malaysia... n. a. n. a. n. a Pakistan... n. a. n. a. n. a. Philippines... * * * * Singapore... n. a Syria... n. a. Tnailand... * MiddleEast oilexporting countries 2/\ r 1,797 3,887 4, Other Asia... J 200 \ * Asia ,660 3,954 9,422 1, , Africa: Egypt... 1 Ghana... n. a. Liberia... n. a. n. a. n. a. Morocco... South Africa... * * * * Zaire... * * Oilexporting countries 2/... f Other Africa... * * f I * Africa... J Other countries: Australia * * 1 1 All other... * * 12 * other countries * * *r,10 foreign countries ,814 5, ,lia 3,796 2,564 3,116 2, *774 International and regional: International ,584 1, European regional... Latin American regional Asian regional... African regional... international and regional ,702 1, Grand total ,995 8,096 22,823 4,151 3,483 3,257 3,337 1/ Through December 31, 1975, Surinam included with Netherlands Antilles. 2/ ^ Iberia, Gabon, Libya, and Nigeria. 2/ Includes Bahrain, Iran, Iraq, Kuwait, Oman, Qatar, Saudi Arabia, p Preliminary. and the United Arab Emirates (Trucial States). * Less than $500,000. n.a. Not available

126 118 CAPITAL MOVEMENTS Sections V Transactions in LongTerm Securities by Foreigners Reported by Banks and Brokers in the United States Table CMV4. Estimated Foreign Holdings of Marketable Treasury Bonds and Notes by Country Treasury Bulletin Country Calendar year Aug. Sept. Oct. Nov. Dee. p Jan. p Europe: * * * J.U 1 A Belji vimluxembourg * * * * Germany...; ,847 1,957 2,165 2,742 3,168 3,373 * * * Italy... * * * * * * * * * Netherlands Norway * * * * * * * * * * * * * * * * * United Kingdom ,017 6,506 8,640 9,419 8,888 9,839 Yugoslavia... Other Westera Europe Poland j j... n.a. n.a. n.a. n.a. n.a. n# n. a. n.a. n.a. U.S.S.R... Other Eastern Europe Europe ,085 2,330 8,481 10,163 12,603 14,003 13,6,12*044. Canada ' 395 ' " S # ',=S!a=!2 jjpsar OQ'i Latin America: Argentina * * * * * * * * * Bahamas Brazil... * * * * * * * * * Chile... * * * * * * * * * Colombia * * * Cuba... Ecuador 1/... n.a. n.a. n.a. n.a. n a n. a. n. a. n.a. Mexico * * Panama... * 1 * * * * 7 12 Peru... * * * * * * * * Trinidad and Tobago 1 /... n.a. n.a. n.a. n.a. n.a. n a n. a. n.a. n.a. Uruguay * * * * * ^ * * * Venezuela Other Latin American Republics * 1 * Bermuda 1/ n.a. n.a. n.a. n.a. n.a. n. a. n. a. n.a. British West Indies 1/... n.a. n.a. n.a. n.a. n.a. n* a* n. a. n. a. n.a. Netherlands Antilles 2/ i Other Latin America * * * * * * Latin America Asia: 544 * China, Republic of (Taiwan)... * * * * * Hong Kong India... * Indonesia... Israel... * * * * * * * * * Japan... 3,498 3,271 2,687 5,025 5,635 5,958 6,547 6,860 7,463 Korea * Lebanon 1/ n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. Malaysia 1/... n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. Pakistan %J...,. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. Philippines... * Singapore i/... n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. Syria 1/... n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. Thailand * * Other Asia ,005 6,486 9,508r 9,6r 10,029r 10,921 11,227 11,283 China, People s Republic of (China Mainland)... * * * * * * * * Asia... 3,709 5,370 9,323 1c l?,uvur ryj/'y*. Africa: 15,941r l6,6llr 18,104 18,745 19,413 Egypt * * * * Ghana l/... n.a. * n a n a n.a. n.a. n. a. n. a. Liberia!/... n*a* n*a* n!a! n. a. n. a. n.a. XL*8.* Morocco * * * * n.a. n.a. South Africa... * * * Zaire * * * * * * * * Other Africa Africa, Other countries: Australia * * * * * * * * * * * other countries * * O foreign countries ,557 7,372 12,765 24,644r 27,208r 30,324r 33,286 33,875 35,649 International and regional: International ,905 2,830 3,759 3,900 4,276 4,646 4,358 European regional... Latin American regional, Asian regional * * * * * * * 7/ African regional ,033 2,940 3,859 4,000 4,375 4,746 4,453 ~ and total S * 7,702 15,798 27,584r 31,067r 34,324^ 37,661 38,621 40,102 Note: Data represent estimated official and private holdings of marketable U.S. Treasury securities with an original maturity of more than one year. Data are based on a benchmark survey as of January 31, 1971, and the monthly transactions reports. Country detail may not add to the area tctalo or to Grand total. 1/ Holdings included in respective "Other1geographical areas. 2/ Through December 31, 1975, Surinam included with Netherlands Antilles, p Preliminary. * Less than $500,000. n.a. Not available, r Revised.

127 March 1978 Country.CAPITAL MOVEMENTS, Section V Transactions in LongTerm Securities by Foreigners Reported by Banks and Brokers in the United States Table CMV5. Net Foreign Transactions in LongTerm Domestic Bonds, Other than Treasury Bonds and Notes, by Country 1a net outflow of capital from ~ Calendar year p Aug. Sept. Oct. Nov. Dec. p Jan. p 119 Europe: Denmark... 6 * 2 * * 1 2 X * 1 10 * 4 * 2 2 * X France * X Greece... x * 3 7 * X 5 * * X Italy X 1 1 * X Netherlands * * 7 Norway * * Portugal... 1 * X 2 * X * * * * Spain * * X * * * 1 Sweden... 2 * 5 1 * X * 10 Switzerland Turkey... * * * * * United Kingdom , Yugoslavia... * * Other Western Europe * 1 Poland... n.a. n.a. n.a. X * Other Eastern Europe... * X X * * * Austria... BelgiumLuxembourg * 48 * 3 * 2 X Europe , V Canada Latin America: Argentina * * * * * Bahamas * Brazil... * * 9 1 * * * * * Chile... 1 * * X * * * X * * Colombia... 2 * X X * * * X * * Cuba... * X X X * Ecuador... n.a. * 1 X * X * Mexico * * * 1 1 Panama * 1 Peru... * * * 1 * X * * * Trinidad and Tobago... n.a. 2 X Uruguay * * X * * * Venezuela * 1 1 X 1 * 1 1 Other Latin American Republics * X * ' 1 * * Bermuda... n.a British West Indies... n.a * * * * 1 Netherlands Antilles 1/ * 1 X * 1 1 Other Latin America... 2 * * 1 Latin America Asia: China, People's Republic of (China Mainland).... China, Republic of (Taiwan)... 1 X * * X * * * Hong Kong * 1 * * X 1 India... * * * * * * * * * Indonesia... * X * * * * Israel... 1 X * 1 * * * X * * Japan Korea... * * 41 * X * * Lebanon... n.a. * 1 1 * * * Malaysia... n.a. n.a. n.a. * * X Pakistan... n.a. n.a. n.a. * Philippines... * * * 5 X * 6 * * * Singapore... n.a. * * * * Syria... n.a. * * * Tnailand... * * * * * * * * MiddleEast oilexporting countries 2/\ f 1,553 1,179 1, Other Asia... / 892 I * * * * * X * * Asia ,5 18 1,014 2, Africa: Egypt... * * 1 * * X Ghana... n.a. Liberia... n.a. n.a. n.a. 2 * 1 * * * Morocco... * * * South Africa... * * X * * Zaire... * * * Oilexporting countries 2/... ^ f * * 2 X 2 Other Africa... J * \ * * Africa X 3 * * * * Other countries: Australia * X * * * * All other... * * * * X * * X other countries X X * * * X foreign countries... 1,522 1,795 1,248 4, "'i a 95 International and regional: International , * European regional... Latin American regional Asian regional African regional... international and regional , * Grand total... 1, ,207 4, / Through December 31, 1975, Surinam included with Netherlands Antilles. 2/ Includes Bahrain, Iran, Iraq, Kuwait. Oman, Qatar, Saudi Arabia, and p United Arab Emirates (Truciai States}. Includes Algeria, Qabon, Libya, and Nigeria. Preliminary. * Less than $500,000. n,a. Not available.

128 120 Treasury Bulletin CAPITAL MOVEMENTS. 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) Calendar Year Com try p Aug. Seplt. Oct. Nov. Dec. p Jan. p Europe: Austria * 1 Belgium Luxembourg Denmark * ** 1* Finland... * 1 3 France Germany * Greece... 10* Italy Netherlands Norway **,1 1 Portugal * 1 Spam * 8 1 i2 2 Sweden * 2 * Switzerland Turkey * * r * * * *5 *2 ** Other Western Europe n. a. n» a. n. a. 3 * ** * Other Eastern Europe... * 1 * * * Europe ,4. 329r 1, * * 34* 106 * * ** 9 1 *1 2 3 * 109 ** 1 32 * * ** * 1 * * Canada Latin America: Argentina * 2 1 * * * * * * * Bahamas * * 3 * * 2 Brazil * 1 * 1 * * * * * * Chile... * 1 * * * * * * * * Colombia... * 1 3r * * * * * * * Cuba... * * * * * Ecuador... n.a. 1 1 * * * * * * * * * Panama * Peru... * * 1 * * * * * * * Trinidad and Tobago.,... n. a. * * * * * * * * * Uruguay * 1 2 * * * * * * Venezuela * Other Latin American Republics... * * * * * 1 * Bermuda.... n. a British West Indies... n.a * * Netherlands Antilles l/ * Other Latin America * 1 * * 1 3 Latin America r Asia China, People's Republic of (China Mainland)... * * * * * China, Republic of (Taiwan)... * * 1 * * * * Hong Kong * * India... * * * * * * * * * * Indonesia * * 7 * * * * * * * Israel * 1 * * 1 * Japan * Korea... 1 * * * * * * * * * Lebanon... n. a * * * * * * n. a. n. a. n. a. * * * * * * Pakistan... n. a. n. a. n. a. * * * * * * Philippines... * * * * * * Singapore n. a * * 4 * 1 5 Syria... n. a. * * 1 * * * * Tnailand... * * * * * * * * * * MiddleEast oilexporting countries 2/ \ / 1,649 1,803 1, ,, Other Asia... J 361 ^ * * * * * * Asia l,790r 1,922 1, Africa: Egypt... 9 * * * * * * * * * Ghana... n. a. * 2 * * * * * Liberia n. a. n. a. n. a * 1 1 * Morocco... * * * * * * * * South Africa... * 1 1 * * * * * Zaire... * * * * * * * * * * Oilexporting countries J/... r * 1 * * * * * * * Other Africa * * Africa... J * * * Other countries: Australia * All other * * * * * 1 * other countries * 1 foreign countries , r 2,661 ' 1*4 170 j International and regional* + International i European regional... * * Latin American regional... *.. * African regional... * international and regional i ,678 2,743* 2,675 ""123 " w.."ss2' " / Through December 31, 1975, Surinam included with Netherlands Antilles. 2/ IncluJ^ Algeria, Gabon, Libya and Nigeria 2/ Includes Bahrain, Iran, Iraq, Kuwait, Oman, Qatar, Saudi Arabia, and p Preliminary. * the United Arab Emirates (Trucial States). * Less than $500,000. n.a. Not available. r Revised.

129 March 1978 CAPITAL MOVEMENTS 121 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 ( m millions of dollar u.; negative n lie a to net naif'" pv To^f'vnern a net outflow of f,dpj. tel fiom the.u'tou States) Country Calendar Year p Aug. Sept. Oct. Nov. Dec. P Jan. p Europe: * * * * BeljiumLuxembourg a * * * 12 2 * * Italy * * * 1 * * 1 * * * * * 1 1 * * * * * Switzerland * * * * * * * United Kingdom r IQr Yugoslavia... * * 1 1 Other Western Europe n.a. n.a. n.a. 1 * * * * * * * Europe r Canada... 1,526 3,102 5,231 2, Latin America: Argentina * * * * Bahamas Brazil... 3 * * 2 4 Chile X 1 * * 1 Colombia * * * * * Cuba... * * * * Ecuador... n.a. n.a. n.a. * * * * * Mexico Panama... * * 1 Peru * * * * * * Trinidad and Tobago... n.a. n.a. n.a Uruguay... * * * * * Venezuela Other Latin American Republics * 2 5 Bermuda... n.a. n.a. n.a British West Indies... n.a. n.a. n.a Netherlands Antilles 1/ * 7 1 * 2 3 Other Latin America * * * * * Latin America... Asia: China, People's Republic of (China Mainland)... China, Republic of (Taiwan) * 3 Hong Kong * * India... * 2 * a Indonesia... * * * 4 4 Israel Japan r Korea... * * 5 2 Lebanon... n.a. n.a. n.a. 2 * * * * * Malaysia... n.a. n.a. n.a Pakistan... n.a. n.a. n.a. Philippines * Singapore... n.a. n.a. n.a. 2 3 * Syria... n.a. n.a. n.a. 1 * * * Thailand... * * * Other Asia Asia l8r Africa: Egypt... * 3 3 * * Ghana... n.a. n.a. n.a. " Liberia... n.a. n.a. n.a. 4 * * 1 * 2 * Morocco... * * * * 5 2 2r * * * * Other Africa * * * * Africa r * 1 * 2 * Other countries: Australia... All other * other countries foreign countries... 2,158 4,133 6,828 3,448 ' l65r 644r International and regional: International , , European regional * 2 Latin American regional Asian regional * African regional... international and regional ,193 1,902 1, Grand total.... 2,218 6,326 8,730 5,005 l,004r. 650r / Through December 31, 1975, Surinam included with Netherlands Antilles. P Preliminary. * Less than $500,000. n.a. Not available. r Revised.

130 122 Country.CAPITAL MOVEMENTS. 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 Treasury Bulletin (In millions of dollars; negative figures indicate net sales by foreigners or a net outflow of capital from the United States) Calendar year 1977 r p Aug. Sept. Oct. Nov. Dec. p Jan. p Europe: * * * * * * * BeljiumLuxembourg * * * 1 * * * 1 10 * * * * * 2 Finland... * 1 * * * * * * Germany * * * * 1 1 * * * * 2 * Italy * * * * * 1 Netherlands * Norway... * 1 8 * * * * * * * Portugal... * * * * Spain * * * 1 * * * * * * * * * * Switzerland Turkey... * * 3 3 * * * United Kingdom * 27 * * * Other Western Europe... 1 * 1 2 * * * Poland... n.a. n.a. n.a. * Other Eastern Europe... * Europe Canada Latin America: Argentina... * * * * * * * * * * Bahamas * 1 * * * * * * Brazil... * * 1 * 1 Chile... * * * * * * Colombia * * * * * * Cuba Ecuador... n.a. n.a. n.a. * * * * Mexico * * * * * * * Panama * * * * * * Peru.... * * * * * * * * * * Trinidad and Tobago... n.a. n.a. n.a. * * * Uruguay... * * * * * * * * * * Venezuela... * 2 * 2 * * * * * Other Latin American Republics... * 1 * 1 * * * * * Bermuda... n.a. n.a. n.a. 29 * British West Indies... n.a. n.a. n.a. * * * * * * * Netherlands Antilles 1/ * 4 1 * Other Latin America * * * * Latin America... Asia: * China, People s Republic of (China Mainland)... China, Republic of (Taiwan)... 1 * * * * * * * * Hong Kong... 1 * * * 1 * * India... * * * * * * * * * Indonesia... * * * * * * Israel * * * Japan Korea... * * * * 47 Lebanon... n.a. n.a. n.a. * * * * * * * Malaysia n.a. n.a. n.a. * Pakistan... n.a. n.a. n.a. Philippines... 9 * 1 1 * * * * * Singapore... n.a. n.a. n.a. 1 * * * * * * Syria... n.a. n.a. n.a. Thailand... * * * * Other Asia * Asia Africa. * * n.a. n.a. n.a. n.a. n.a. n.a. * * * * * * * * * 1 * 2 * 2 1 * * * * * * * * 1 * 1 2 Other countries: 1 * 5 1 * * 2 * * * * * * * 1 * 5 1 * * 2 * * * O International and regional* * * * ~ international and regional... * * I AO/, ] / Tb >vici> r«(ber 3 1, , Surinam included with Netherlands Antilles. * Less than $> j 0, p Preliminary. n.a. Not available.

131 March Country.CAPITAL MOVEMENTS. 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 January 1978 Preliminary (In millions of dollars) (1) purchases Marketable Treasury & Federal Financing Bank bonds & notes (2) Gross purchases by foreigners Domestic securities Bonds of U.S. Gov't corp. and Federallysponsored agencies (3) Corporate < other Bonds (4) Stocks (5) Foreign securities (6) (7) sales (8) Marketable Treasury Federal Financing Bank bonds & notes (9) Gross sales by foreigners Domestic securities Bonds Corporate. of U.S. Gov't other corp. and Federally. sponsored agencies (10) Bonds (11) Stocks (12) Foreign securities (13) (14) Austria... BelgiumLuxembourg... Denmark... Finland... France... Germany... Greece... Italy... Netherlands... Norway... Portugal... Spain... Sweden... Switzerland... Turkey... United Kingdom... Yugoslavia... Other Western Europe. Poland... U.S.S.R... Other Eastern Europe. Europe... Canada.... Latin America: Argentina.... Bahamas Brazil.... Chile.... Colombia.... Cuba.... Ecuador... Mexico.... Panama... Peru i... Trinidad and Tobago... Uruguay... Venezuela... Other Latin American Republics. Bermuda... British West Indies... Netherlands Antilles... Other Latin America... Latin America. Asia: China, People's Republic of (China Mainland)... China, Republic of (Taiwan). Hong Kong... India... Indonesia... Israel... Japan... Korea... Lebanon... Malaysia Pakistan... Philippines... Singapore... Syria... Thailand... Other Asia... Asia. Africa: Egypt... Ghana... Liberia... Mbrocco... South Africa.. Zaire... Other Africa.. Africa.. Other countess: Australia... All other... other countries... foreign countries... International and.regional: International. European regional... Latin American regional. Asian regional... African regional... international and regional. Grand total * , ,432 T 5 T * * ,4 7 5, , , ,072 ~ T , , S T * * ~ W , * * * "4T A , , " * * *1 2 * , r ,565 1, , * * ~ , , * Less than $500,000.

132 124 Treasury Bulletin CAPITAL MOVEMENTS Section V Transactions in LongTerm Securities by Foreigners Reported by Banks and Brokers in the United States Table CMV10. Foreign Purchases and Sales of LongTerm Securities, by Type and Country, During Calendar Year 1976 (In millions of dollars) Europe: Country purchases (1) Gross purchases by foreigners Marketable Treasury bonds and notes (i'l Gross sales by foreigners Domestic securities Foreign securities Domestic securities Foreign securities Corporate and other Bonds Stocks Bonds (3) sales Stocks (4) (5) (5) (7) Marketable Treasury bonds and notes (S) Corporate and other Bonds Stocks Bonds (9) Stocks (1C) (11) (12) 68 * a ^3 26 * , , * * * * France... 2, , , , , , , , * 1 53 * 4 48 * * Italy , , Portugal * * 15 * * Spain * * 6, , , , * * 2 * * 1 * * * * 5, ,206 2,073 1, ,869r 477 1,183 l,704r 1, * * * * * * Other Western Europe * Poland... n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 2 * * 1 * * * * * ^0,297 3,299 2,243 11,103 3, ,475r 2,054 2,152 10,774r 3,490 1,005 Canada " 4, , , ,6 5, Latin America: 29 * * * * 56 * * Chile... 5 * * 2 3 * 2 * * 2 * * * 9r * 8r * * * * * * * * * 8 * 1 7 n.a. n.a. 6 * 5 n.a. n.a * * * 2 3 * 2 * 1 1 * * * * n.a. n.a. * * * n.a. n.a * * Othpr* Latin American Republics n.a. n.a n.a. n.a. British West Indies n.a. n.a n.a. n.a. Netherlands Antilles Other Latin America * * * * Latin America... 2, , ,421r l,285i Asia: China, People's Republic of (China Mainland;... * * * * China, Republic of (Taiwan) * 1 11 * * 9 * * Hong Kong India... 2 * * 1 2 * 3 * 1 2 * Indonesia... 8 * 8 * 1 * 1 * 74 * Japan... 1, ,702 1, Korea * 1 * * 1 Lebanon n.a. n.a. 36 * 35 n.a. n.a. Malaysia... n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.8. Pakistan... n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. Philippines * * Singapore... 1,044 1, n.a. n.a n.a. n.a. Syria n.a. n.a. 2 2 n.a. n.a z 1 10 * * 1 * 8,890 4,502 1,972 2, , ,631 6,340 2,026 3, ,441 2,386 1,012 1,352 1, Africa: * 2 n.a. * n.a. n.a. Liberia n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. Morocco... 1 * * * * 1 * 1 * South Africa * * * * 2 * 54 Zaire... * * * * * * Other Africa Egypt... Ghana... * * 2 * n.a. * * * Africa Other countries: Australia * * All other * * 5 19 * 7 22 * * 6 * other countries * * foreign countries... 40,377 10,747 5,024 18,176 4,498 1,932 38,16lr 5,354 3,776 15,446r 11,326 2,259 International and regional International... 15,417 14, ,722 11, ,320 1 European regional Latin American regional * Asian regional African regional... international and regional 15,858 14, ,082 12, ,336 1 Grand xotal... 56,234 25,610 5,529 *18,227 4,932 1,937 53,242r 17,514 4,322 15, ,662 2,259 * Less than $500,000. n.a. Not available, r Revised.

133 March 1978 FOREIGN CURRENCY POSITIONS 125 Background Data have been collected since 1974 on the foreign currency positions of banks and nonbanking firms in the United States, and on those of foreign branches, majorityowned foreign partnerships, and majorityowned foreign subsidiaries of United States banks and nonbanking firms. Reports cover nine major foreign exchange market currencies and United States dollars held abroad. Reporting has been required pursuant to Title II of Public Law 93110, an Amendment to the Par Value Modification Act, of September 21, 1973, and implementing Treasury regulations. Statistics on the positions will be published monthly in the Treasury Bulletin, beginning with data for December The report forms and instructions used in the collection of bank data were revised effective with reports as of October 29, 1975, for the weekly reports, and as of November 28, 1975 (the last business day of the month), for the monthly reports. The most recent revision of the nonbank Foreign Currency forms (see below) became effective as of the last business day of November 1976 for the monthly reports on nonbanking firms positions in the United States. Common Definitions and Concepts The term "United States" means the States of the United States, the District of Columbia, the Commonwealth of Puerto Rico, American Samoa, the Canal Zone, Midway Island, the Virgin Islands, and Wake Island. The term "foreign" means locations other than the "United States". The term "Worldwide" is used to describe the sum of "United States" and "foreign" data. Data for the United States include amounts reported by sole proprietorships, partnerships, and corporations in the United States including the U.S. branches and subsidiaries of foreign nonbanking concerns, in the case of "nonbanking firms' positions", and the agencies, branches, and subsidiaries located in the United States of foreign banks and banking institutions, In the case of the weekly and monthly "bank positions". Data for "foreign branches" and "abroad" include amounts reported by the branches, majorityowned partnerships and majorityowned subsidiaries of United States banking and nonbanking concerns. In general, these data do not reflect the positions of foreign parents or foreign parents' subsidiaries located abroad except through intercompany accounts. The data include the foreign subsidiaries of a few foreignowned U.S. based corporations. Assets, liabilities, and foreign exchange contract data are reported on the basis of time remaining to maturity as of the date of the report, regardless of the original maturity of the instrument involved. "Spot" means due for receipt or delivery within two business days from the date of the report. "Shortterm" means maturing in one year or less from the date of the report. "Majorityowned foreign partnerships" are those organized under the laws of a foreign country in which one or more nonbanking concerns or nonprofit institutions in the United States, directly or indirectly, own more than 50 percent profit interest. "Majorityowned foreign subsidiaries" are foreign corporations in which one or more nonbanking business concerns or nonprofit institutions located in the United States directly or indirectly own stock with more than 50 percent of the total combined voting power of all classes of stock entitled to vote, or more than 50 percent of the total value of all classes of stock. Reporting Threshold The exemption level applicable to banks and banking institutions is $10 million equivalent. The exemption level applicable to nonbanking business concerns and nonprofit institutions was $1 million equivalent on all nonbank forms from March 1975 through November 1976, when it was raised to $2 million equivalent on the monthly reports of positions held in the Ifaited States. Firms must report their entire foreign currency position in a specified foreign currency if a specified United States dollar equivalent value is reached in any category of assets, liabilities, exchange contracts bought and sold, or the net position in the currency. In general, exemption levels are applied to the entire firm in the United States and separately to each foreign branch or subsidiary. In reports on their foreign branches, majorityowned foreign partnerships and majorityowned foreign subsidiaries, United States banks and nonbanks are required to report the United States dollar denominated assets, liabilities, exchange contracts bought and sold, and net positions of those branches, partnerships, and subsidiaries with reportable positions in the specified foreign currencies. Description of Statistics Data collected on the Treasury Foreign Currency fiorms are published in the Treasury Bulletin in ten sections. The first section presents a summary of worldwide net positions in all of the currencies reported. Sections II through IX each present data on a specified foreign currency. Section X presents the United States dollar positions of the foreign branches and subsidiaries of United States firms which are required to report in one or more of the specified foreign currencies.

134 126 Treasury Bulletin FOREIGN CURRENCY POSITIONS Section I Summary Positions Table FCPI1. Nonbanking Firms* Positions 1/ (In millions of foreign currency units) Report date Belgian francs. (1) 1977Jun... 25,7r 1977 Sept... 25,792 Canadian dollars (2) ll,164r 10,240 French francs (3) 7,654** 7,104 German marks (4) 4,184r 3,868 Italian lira (5) 384,826r 462,290 Japanese yen (6) 259,l65r 271,553 Swiss francs (7) 3,736r 3,197 Sterling (8) l,133r 1,518 U.S. dollars 2/ (9) 6,674r 5,449 Table FCPI2. Weekly Bank Positions (In millions of foreign currency units) Report date Belgian Canadian French German Italian Japanese Swiss British U.S. francs dollars francs marks lire yen francs pound dollars (1) (2) (3) (4) (5) (6) (7) (8) (9) 3/30/77 1, ,095 53,742 79, /06/77 2, ,272 32,025 72, /13/ ,601 23,162 80, /20/77 1, ,656 84, /27/77 1, ,405 43,519, /04/77 1, ,495 40,335 85, /11/77 1, ,739 76, /18/77 2, ,316 50,863 95, /25/77 1, ,324 49,472 92, /01/77 1, ,495 77,003 89, ' /08/77 1, ,198 73,2 90, /15/ ,302 76,196 98, /22/77 1, ,416 86, /29/77 1, , ,730 98, /06/77 1, ,209 95,864 87, a 87 7/13/77 1, , ,720 94, /20/77 1, ,684 77,098 82, /27/ , ,851 90, /03/77 1, , ,713 72,827r A0/77 1, , ,480 55,141** /17/77 3, ,197 60,559 58, /24/77 1, ,411 82,338 67, /31/77 1, ,209 74,219r 68,564r 214r 79r 60 9/07/77 2, ,056 94,965 80, /14/77 3, ,625 71, /21/77 2, ,128 92, /28/77 1, ,350 90, Table FCPI3. Monthly Bank Positions 5/ (In millions of foreign currency units) End of month Belgian Canadian francs French German Italian Japanese dollars francs mflrlrp lire Swiss yen British francs U.S. pounds dollars (1) (2) (3) (4) (5) (6) (7) (8) (9) 1977Apr... 4, ,028 72, May... 3, ,535 73, June... 4, ,014 64,156 53, , a ,754 60, , ,611 61, , ,541 82,

135 March FOREIGN CURRENCY POSITIONS Section II Belgian Franc Positions Table FCPH1. Nonbanking Firms* Positions 1/ (In millions of Belgian francs) Shortterm trade Forward exchange 8/ Position at end Liquid Shortterm Other Other of month assets Z/ Receivables i j ables 1/ ities 2/ Bought Sold Pay assets / liabil debt y (1) (2) (3) (4) (5) (6) (7) (8) Apr ,929 3,069 1,801 %1 8,063 2,708 1,720 6,403 Net position SJ (9) Exchange held by Positions rate 10/ offices in: (10) " United States May ,053 3,197 1, ,178 2,716 1,937 6,395 2, United States June ,473 33,l82r 75,582 47, ,670r 88,487 1,231 2,030 24,682r Abroad June ,035 3,284 1, ,175 2,690 1,836 6,773 1, United States June ,503 36,466r 77,321 48, ,845r,177 3,067 8,803 25,7r Worldwide July ,093 3,048 1, ,168 3,055 2,512 5,879 3, United States Aug ,269 3,150 2, ,430 3,055 < 2,728 5,748 1, United States Sept ,477 33,246 67,5 46, ,795 85,343 2,772 3,344 24, Aboard Sept ,617 2,749 2,755 1,006 5,518 2,302 2,304 6,764 1, United States Sept ,094 35,995 70,670 47, ,313 87,645 5,076 10,108 25, Worldwide Date Table FCPII2. Weekly Bank Positions H/ (In millions of Belgian francs) Assets and liabilities 12/ Exchange contracts 13/ Net position Banks in U.S. Foreign branch net Worldwide net Banks in U.S. Foreign branch net Worldwide net United States 14> Foreign branch 15/ (12) Worldwide 16/ Exchange rate 17/ Assets Liabilities Net Bought Sold Net (1) (2) (4) (5) h (3) (6) (7) (8) (9) (10) (11) (13) (14) 4/06/ ,055 3,877 23,030 24,265 1,235 5,039 6,274 1, ,397 4A3/ ,835 3,808 23,419 24,656 1,237 3,263 4,500 1, /20/ ,358 4,467 24,604 26,187 1,583 4,220 5,803 1, , /27/ ,433 4,677 22,832 24,592 1,760 4,038 5,798 1, , /04/77 310r 224r 86 6,069r 6,155r 24,074 25,398 1,324 6,032 7,356 1, , /Ll/77 271r 63r 208r 6,628 6,836 22,592 23,921 1,329 6,885 8,214 1, , A8/77 268r 340r 72 3,548 3,476 20,792 22,670 1,878 3,934 5,812 1, , /25/ ,436 1,587 a, ,642 1,905 1,571 3,476 1, , /01/77 298r 63r 235 4,215 4,450 21,348 23,358 2,010 4,190 6,200 1, , /08/ ,745 2,877 22,187 24,019 l1,832 2,480 4,312 1, , /15/77 259r loor 159 4,299 4,458 19,303 20,936 1,633 3,819 5,452 1, /22/77 302r 205r 97 2,336 2,433 18,673 20,382 1,709 1,880 3,589 1, , /29/ ,010 5,139 19,473 21,240 1,767 4,690 6,457 1, , /06/ ,560 4,506 18,969 20,820 1,851 4,111 5,962 1, , /13/ ,529 5,735 19,635 21,528 1,893 5,413 7,306 1, , /20/ ,351 5,505 20,465 22,581,116 4,698 6,814 1, , /27/ ,870 4,088 20,474 22,313 1,839 3,216 5,055 1, /03/ ,224 5,515 20,454 22,411 1,957 5,195 7,152 1, , A0/ ,887 4,169 22,137 24,233 '2,096 3,413 5,509 1, , S/17/ ,258 4,655 23,215 25,469 2,254 6,194 8,448 1,857 1,936 3, /24/ ,555 3,670 22,852 23,9^ 1,117 3,606 4,723 1, , /31/77 2 a ,287 3,420 22,459 24,046 1,587 3,347 4,934 1, , /07/ ,4 2,656 22,981 25,602 2,621 2,587 5,208 2, , /14/ ,331 2,466 22,597 24,635 2,038 4,056 6,094 1,903 1,725 3, /21/ ,939 3,195 22,105 24,398 2,293 2,948 5,241 2, , /28/ ,699 3,751 24,531 26,349 1,818 3,135 4,953 1, , Footnotes at end of Table FCPX3.

136 End of month 1977 Apr. May., July., Aug. Sept. (1) (2) (3) (4) (5) (6) (7) (8) (9) (1) (2) (3) (4) (5) (6) (7) (8) (9) (1) (2) (3) (4) (5) (6) (7) (8) (9) Demand/spot.,... 3 days1 month... Over 1 month3 months... Over 3 months6 months... Over 6 months1 year... Over 1 year, of all maturities... Capital assets, liabilities. Summary ((7) + (8))... Demand/spot days1 month...*... Over 1 month3 months... Over 3 mfinths6 months... Over 6 months1 year... Over 1 year of all maturities... Capital assets, liabilities. Summary ((7) + (8))... Demand/spot days1 month.... Over 1 month3 months... Over 3 months6 months... Over 6 moirths1 year... Over 1 year... of all maturities... Capital assets, liabilities. Summary ((7) + (8)).... Demand/spot days1 month.... Over 1 month3 months.. (4) Over 3 months6 months., (5) Cteer 6 months1 year..., (6) Over 1 y*»ar... (7) of all maturities.... (8) Capital assets, liabilities., (9) Summary ((7) + (8))... Demand/spot... 3 Days1 months... Over 1 month3 months.. Over 3 months6 months Over 6 months1 year... Over 1 year... (7) of all maturities... (8) Capital assets, liabilities. (9) Summary ((7) + (8))... (1) Demand/spot (2) 3 days1 month... (3) Over 1 month3 months... (4) Over 3 months6 months... (5) Over 6 months1 year.... (6) Over 1 year... (7) of all maturities... (8) Capital assets, liabilities. (9) Summary ((7) + (8)).... Section II Belgian Franc Positions Table FCPII3. Consolidated Monthly Bank Positions i / (In millions of Belgian f r a n c s ) 00 Worldwide Assets 19/ (1) 33,042 22,387 15,952 13,017 9,060 15, ,330 2, ,983 36,i76r 19,603 18,266 12,723 8,828 15,451 lll,047r 2, ,760r 32,063r 16,192 16,492 12,810 26, ,261r 2, ,074** 30,388 19,310 19,404 12,322 ) 24, ,155 2,900 29,964 22,127 16,308 11,467 25, ,399 3, ,464 30,325 22,012 14,9 12,686 8,453 15, ,672 J L 139, 106,811 mance.,sheet,.items Liabilities (2) 39,768 30,398 17,118 6,847 4,568 5,333 Net (3) 6,726 8,011 1,166 6,170 4,492 10, ,032 5,298 5,049 2, ,081 2,902 39,967* 32,556 16,754 7,463 4,551 5,441 3,7 12,953 1,512 5,260 4,277 10, ,732r 4,315 5,108 2,395 lll,84qr 1,920 40,144r 8,081 29,965 13,773 14,374 2,118 6,132 6,678 9, ,263r 4, ,488r 2,414 32,642 2,254 28,847 9,537 17,818 1,586 10,163 2,159 10,478 ( 4,899 9,354 99,948 6,207 2, ,494 3,561 34,686 31,149 16,236 10,354 9,897 4,722 9, ,113 4,882 10,754 Bought (4) m exchange contracts 20/ Sold (5) 17,177 17,633 22,3 25,849 29,793 30,625 24,659 25,282 16,842 17, , , , , ,581 13,483 14,733 21,321 21,030 28,290 31,235 22,610 23,329 16,218 16,980 1,112 1, , , , ,631 13,644 14,054 23,289 24,311 28,263 29,985 22,407 24,297 17,113 17,610 2,103 2, , , , ,199 15,452 20,868 22,162 25,843 26,484 21,462 25,457 15,107 15,646 2,484 2, , , , ,772 18,468 22,961 29,597 22,446 14,688 3,029 18,105 20,861 32,808 27,963 12,809 3, ,322 3, , ,628 5,845 2, JL.6Z... 32,721 30,373 15,119 11,129 4,582 5,524 2,396 8, ,557 3,871 9, ,513 27,736 22,883 18,920 Maturity,115,, ,551 31,982 30,207 17,671 99,448 4, , ,593 5,3 2, ,361 1, , ,593 Net (6) 456 3, , ,947 6,947 1, , ,597 5, ,022 1,722 1, ,723 5,723 m 1, , ,809 6,809 W T 2,100 3,211 5,517 1, ,439 ^1,229 4,962 4,246 7,324 1, ,588 6,588 Net overall position 21/ (7) 7, 11,469 1,998 5,547 3,467 9,986 1,649 2,396 4,045 5,041 12,662 1,433 4,541 3,515 9,798 1,282 2,395 3,677 8,4 14, ,788 7,532 8,847 1,723 2,414 4,137 10, ,836 4,360 9, ,646 3,248 4,359 6,922 3,139 4, W 6,761 10,701 1,362 2,780 3,399 4,446 5,767 5,188 9,685 2,364 2,774 5,138 1 (33 5! > 3 & S

137 March FOREIGN CURRENCY POSITIONS* Section III Canadian Dollar Positions Table FCPIII1. Nonbanking Firms* Positions 1/ (In millions of Canadian dollars) Shortterm trade Forward exchange 8/ Position Liquid Shortterm Receiv Pay assets / liabil position 2/ change held by Other Other Net Ex Positions at end of month assets 2 j debt 2/ ables i j ables *>/ ities Bought Sold 2/ rate IQ/ offices in: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Apr.' 1977' ' "762 " S54r 587r 725r ,0 W 1,75* r 6.^546 United States May r 694 3,502r 1, ,044 l,533r United States June ,708 5,057r 11,874 5,662r 20,870r 16,460r ,642r Abroad June r r 706 3,665r 1, ,093r l,522r United States June ,580r 5,353r 12,352r 6,368r 24,535r 17,528r 1,467 2,521r ll,l64r Worldwide July r r 727r 3,645r 1, ,096r l,494r United States Aug r ,561 1, ,116r l,l47r United States Sept,, ,346 5,155 11,722 5,783 21,162 16, , Abroad Sept ,619 1, ,071 1, United States Sept., ,101 5,565 12,084 6,410 24,781 17,886 1,423 2,288 10, Worldwide Date Table FCPIH2. Weekly Bank Positions JJ/ (In millions of Canadian dollars) Assets and liabilities 12/ Exchange contracts 13/ Net position Banks in U.S. Foreign branch net Worldwide net Banks in U.S. Foreign branch net Worldwide net United States 2Jt/ Foreign branch IS/ (12) Worldwide 16/ Exchange rate 12/ Assets Liabilities Net Bought Sold Net (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11) (13). (1.4). 4/06/ ,469 11, /13/ ,354 11, /20/ ,400 11, /27/ ,114 11, /04/ ,996 11, /11/ ,444 11, /18/ ,692 12,154 46? /25/ ,136 12, /01/ ,899 12, /08/ ,661 12, /15/ ,029 11, /22/ ,360 11, *9522 6/29/77 823, ,876 11, /06/ ? ,884 11, /13/ ,878 11, /20/ ,085 11, /27/ ,159 11, /03/ ,984 11, /10/ ,506 12, /17/ ,444 11, /24/ ,811 12, /31/ ,726 12, /07/ ,414 11, /14/ ,720 12, /21/ ,866 12, /28/ ,411 12, CM 1 to Footnotes at end of Table FCPX3.

138 Section III Canadian Dollar Positions Table FCPIII3. Consolidated Monthly Bank Positions 'tt/ (In millions of Canadian dollars) Worldwide End of Maturity Balance sheet items Foreim exchange contracts 20/ Net month Assets 19/ Liabilities Net Bought Sold Net overall position 21/ (1 ) (2) (3) (4) (5) (6) (7) 19 f? Apr... (i) X,UX (?) 3 days 1 month , (3) Over 1 month3 months ,217 4,* (4) Over 3 months6 months , (*>) Over 6 months1 year... 2, ,515 OS 14 (6) Over 1 year Q 263 1,543 <Lo on** 6 416* (7) of all maturities.... 2,356 1, ,407 11, (8) Capital assets, liabilities (9) Summary ((7) + (8)).... 2,469 1, ,401 11, May... (1 ) ,2 16 1, (2) 3 days 1 month ,364 3, (3) Over 1 month3 months ,135 3, (4) Over 3 months6 months ,926 2, (5) Over 6 months1 year ,558 1, (6) Over 1 year m (7) of all maturities... 1, ,439 12, (8) Capital assets, liabilities (9) Summary ((7) + (8)) , ,439 12, June... (1 ) Demand/spot : (2) 3 days 1 month ,699 2, (3) 3,384 3,658 (4) Over 1 month3 months ,112 3, Over 3 months6 months (5) Over 6 months1 year ,362 1, (6) Over 1 year (7) of all maturities... 2,739 2, ,704 12, (8) Capital assets, liabilities (9) Summary ((7) + (8)) ,855 2, ' 11, July... (1 ) (2) Demand/spot ,1# days 1 month ,204 2, (3) Over 1 month3 months ,709 3, (4) Over 3 months6 months ,881 2, (5) Over 6 months1 year... ) ( 18 1,443 1, (6) Over 1 year (7) of all maturities , ,479 11, (8) Capital assets, liabilities (9) Summary ((7) + (8)).... 2,754 2, ,479 11, Aug... U) Demand/spot... " <W ' ' " 82 1,227 1,319 yc (2 ; 3 days 1 month Q 3,268 IU7 tno 36 (3) Over 1 months3 months f <J 3,7 140 t1 a (4) Over 3 months6 months ,662 1J.O 150 (5) Over 6 months1 year... } "7 J (6) Over 1 year... ' * (7) of all maturities... 2,666 2, , (8) Capital assets, liabilities (9) Summary ((7) + (8))... 2,854 2, ,509 12, (1 ) 541 5I T "... yu> (2) 3 days1 month ,504 2, (3) Over 1 month3 months ,361 4, (4) Over 3 months6 months ,631 2, (5) 49 1,597 1, (6) ) ( (7) 2,506 2, ,419 12, j (8) (9) 2,679 2, ,419 12, u >? I a t o % & I

139 March 19J8 131 FOREIGN CURRENCY POSITIONS Section IV French Franc Positions Table FCPIV1. Nonbanking Firms* Positions y (In millions of French francs) Shortterm trade Forward exchange 8/ Position Liquid Shortterm Receiv Pay assets 6/ liabil position 2/ change held by Other Other Net Ex Positions at end assets 2/ of month debt 1/ ables 4/ ables ities Bought Sold 1/ 2/ rate 10/ offices in: (1 ) (2) (3) (4) (5) (6) (7) (8) (9) (10 ) Apr ,644 1, United States May , United States June ,809 10,005r 23,582 14,700r 23,472r 17, r 1,468 8,233r 4.93 Abroad June , ,627 57$ 4.93 United States June ,966 10,26lr 23,946 I4,885r 24,707r 18,065 l,341r 3,095 7,654r 4.93 Worldwide July ,728 1, United States Aug ,667 1, United Stafes Sept ,693 9,583 21,052 12,875 23,398 15, , Abroad Sept , United States Sept ,864 9,871 21,427 13,560 24,285 16,827 1,435 3,649 7, Worldwide Date Table FCPIV2. Weekly Bank Positions 11/ (In millions of French francs) Assets and liabilities 12/ Exchange contracts 13/ Net position Banks in U.S. Foreign branch net Worldwide net Banks in U.S. Foreign branch net Worldwide net United States 1 / Foreign branch 15/ (12 ) Worldwide 16/ Exchange rate 17/ Assets Liabilities Net Bought Sold Net (1 ) (2) (3) (4) (5) (6) (7) (8) (9) (10) (1 1 ) (13) (14) 4/06/ ,013 3,330 16, 16, ,713 3, /13/ ,660 2,930 16,742 17, ,387 2, /20/ ,539 2,815 16,619 17, ,282 2, /27/ ,311 2,528 16,001 16, ,077 2, /04/ ,653 2,788 16,577 17, ,413 2, /11/ ,492 2,676 16,870 17, ,286 2, /18/ ,079 3,196 16,056 16, ,827 3, /25/ ,202 3,364 16,234 16, ,925 3, /01/ ,948 3,178 16,379 16, ,587 3, /08/ ,856 3,172 16,340 16, ,464 3, /15/ ,872 3,213 16,869 17, ,557 3, /22/ ,752 3,277 17,280 17, ,348 2, /29/ ,612 3,051 18,253 18, ,153 2, /06/ ,581 3,054 18,973 19, ,222 2, /13/ ,750 3,309 19,003 19, ,629 3, /20/ ,605 3,031 19,649 20, ,268 2, /27/ ,618 2,984 19,934 20, ,313 2, /03/77 458r 129r 329 2,515 2,844 20,388 20, ,178 2, /10/77 n.a. n.a ,334 2,781 20,477 21, ,118 2, /17/ ,269 2,606 21,822 22, ,959 2, /24/ ,096 2,698 21,102 21, ,579 2, /31/ ,557 2,996 21,046 21, ,357 3, /07/ ,641 3,050 20,359 21, ,403 3, /14/ ,609 3,219 20,826 21, ,310 3, /21/ ,731 3,042 20,753 21, ,399 2, /28/ ,495 2,933 20,730 21, ,159 2, Footnotes at end of Table FCPX3.

140 Section IV French Franc Positions Table FCPIV3. Consolidated Monthly Bank Positions W (In millions of French francs) End of month 1977 Apr., May.. June. July., Aug. Sept. 1) 2) 3) 4) 5) 6) 7) 8) 9) 1) 2) 3) 4) 5) 6) 7) 8) 9) 1) 2) 3) 4) 5) 6) 7) 8) 9) 1) 2) 3) 4) 5) 6) 7) 8) 9) 1) 2) 3) 4) 5) 6) 7) 8) 9) (1) C2) (1) (5) (6) (7) (8) (9) Maturity Demand/spot days1 month Over 1 month3 months... Over 3 months6 months... Over 6 months1 year... Over 1 year... of all maturities... Capital assets, liabilities Summary ((7) + (8))... Demand/spot... 3 days1 month... Over 1 month3 months... Over 3 months6 months... Over 6 months1 year... Over 1 year... of all maturities... Capital assets, liabilities, Summary ((7) + (8))... Demand/spot... 3 days1 month... Over 1 month3 months... Over 3 months6 months... Over 6 months1 year.... Over 1 year.... of all maturities..., Capital assets, liabilities, Summary ((7) + (8)).... Demand/spot days1 month.... Over 1 month3 months... Over 3 months6 months.... Over 6 monxhs1 year.... Over 1 year.... of all maturities... Capital assets, liabilities, Summary ((7) + (8))... Demand/spot... 3 days1 month... Over 1 month3 months... Over 3 months6 months... Over 6 months1 year... Over 1 year.... of all maturities... Capital assets, liabilities. Summary ((7) + (8))... Demand/spot days1 month... Over 1 month3 months... Over 3 months6 months... Over 6 months1 year... Over 1 year... of all maturities,,... Capital assets, liabilities., Summary ((7) + (8))... Assets 19/ (1) 4,379 4,150 3,146 1,760 1,589 1, ,599 4,985 4,161 2,878 1,609 1,458 1,146 16, ,677 5,435 3,812 6,233 2,020 1,280 1,142 19, , , ,904 1,135 1, ,683 4, ,743 1, , ,255 4,185 4,510 3,589 1,416 2,458 16,158 T O T 16,666 Balance sheet items Liabilities (2) 6,504 3,132 1,255 1, ,164 Net (3) 2,125 1,018 1, , ,694 2, ,201 2,398 5, ,130 1,031 1,360 1,518 1, ,228 1, ,848 3, ,377 3,300 6,797 2,597 1,768 1,362 1,215 4,465 1, ,055 1, ,647 6, ,1 6,286 6,206 3,026 1, ,168 1, ,022 1, ,216 2, ,795 2,888 5, , ,487 1, ,201 1, ,635 3, ,210 3,045 5,485 3,341 1, ,736 12,852 SliT 13,470 1,300 1,169 1, , ,196 Bought (4) 5,520 6,042 9,123 6,395 4, Foreim exchange contracts 20/ Sold (5) 5,448 6,248 10,280 6,603 5, ,731 34,652 31,731 34,652 4,862 5,492 6,455 7,134 8,964 9,982 7,141 7,831 3,804 4, ,685 35,239 31,685 35,239 4,764 4,869 7,580 8,113 8,206 11,647 8,409 9,952 2,823 3, ,524 38,628 32,524 38,628 5,195 6,845 9,539 9,463 4,385 1,001 36,428 36,428 5,817 7,218 9,708 10,875 4,599 1,058 39,275 6,461 6,942 7,497 7,447 9,976 11,145 9,704 11,157 3,590 3,777 1,274 1,188 38,502 41,656 38,502 41,656 7,605 7,229 6,920 7,7 10,778 12,629 9,128 9,716 4,181 4,460 1,531 1,332 40,143 43,283 "Nit" (6) , , ,921 2,921 & , ,554 3, ,441 1, ,104 6, , ,847 2, ,169 1, , , ,140 Net overall position 21/ (7) 2, '= r r 523 1, , , T 7 T 11 1, , P S 1 I a &

141 March Position at end of month Apr. May June 1977 June 1977 Liquid assets 2/ FOREIGN CURRENCY positions Section V German Mark Positions Table FCPV1. Nonbanking Firms Positions 1/ (In millions of German marks) Shortterm trade Other assets / Other liabilities 2/ Forward exchange 8/ Net position 2/ Exchange Positions held by rate 10/ offices in: term Receivables {J ables 5/ Pay Bought Sold debt 2/ (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) 1,236 1,189 7,814 1, ,857* $ , ,627 1,8 10,846* 2,135 1,^> 1,498 19,118r 1,509 2,882 2,890 16,200 2,877 1,738 1, ,901 1, , ,659 2,268 2, United States United States Abroad United States June r r 20,627r , r Worldwide July , ,281 1,500 2,810 1,923 1,808 2, United States Aug , ,012 1,426 2,718 2,818 1,669 1, United States Sept ,567 7,686 14, ,797 19,079 16,865 1,540 1,553 5, Abroad Sept AB, 331 2, United States Sept ,593 5, w 12,878 19,981 19,466 4,547 2,782 35,W Worldwide Date Table FCPV2. Weekly Bank Positions 11/ (In millions of German marks) Assets and liabilities 12/ Exchange contracts 13/ Net position Banks in U.S. Foreign branch net Worldwide net Banks in U.S. Foreign branch net Worldwide net United States 14/ Foreign branch 15/ (12) Worldwide 16/ Exchange rate 12/ Assets Liabilities Net Bought Sold Net (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11) (13) (14) 4/06/77 1, ,038 3,312 21,462 21, ,764 2, ,274 1, /13/77 1, ,109 3,435 23,908 23, ,859 1, ,250 1, /20/77 1, ,448 3,696 23,953 24, ,495 2, /27/ ,282 3,439 24,289 24, ,875 2, ,407 1, /04/ ,981 3,265 25,577 25, ,694 1, ,287 1, /11/ ,133 3,328 27,278 27, ,214 2, /18/ ,429 3,571 24,040 24, ,167 2, ,262 1, /25/ ,113 3,286 25,751 25, ,805 1, ,308 1, /01/ ,509 3,736 24,244 24, ,006 2, ,503 1, /08/ ,659 3,775 26,341 26, ,322 2, ,337 1, /15/ ,819 3,942 24,534 24, ,461 2, ,358 1, /22/ ,121 4,269 24,645 24, ,993 3, , /29/ ,308 4,445 27,457 27, ,963 2, ,345 1, /06/ ,723 4,859 26,556 26, ,546 3, ,177 1, /13/ ,445 4,581 28,521 28, ,097 3, ,348 1, /20/ ,742 4,6 28',500 28, ,198 3, ,544 1, /27/ ,201 5,367 27,899 28, ,697 3, ,504 1, /03/77 755r 603r 152 4,365 4,517 28,637 28, ,807 2, ,558 1, /10/77 822r 633r 189 4,041 4,230 29',074 29, ,574 2, ,467 1, /17/ ,680 3,3 30,039 30, ,248 2, ,432 1, /24/ ,048 4,216 30,894 31, ,597 2, ,451 1, /31/ ,072 4,201 29,906 30, ,715 2, ,357 1, /07/ ,667 4,876 27,854 28, ,514 3, ,153 1, /14/ ,349 4,566 27,981 28, ,442 4, /21/ ,260 4,477 28,720 29, ,299 3, /28/ ,534 4,656 29,118 29, ,406 3, , Footnotes at end of Table FCPX3.

142 Section V German Mark Positions Table FCPV3. Consolidated Monthly Bank Positions W End of month 1977Apr. May. Maturity Balance.sheet items Foreign exchange contracts 20/ Net Assets 19/ Liabilities Net Bought Sold... Net. overall position 21/ (1) (2) (3) (4) (5) (6) (7) (1) Demand/spot ,027r 10,889r *»3,862r 13,240r 13,947r 707r (2) 3 days1 month.... 4,569r r fjt 12,048 12, ,176r (3) Over 1 month3 months... IP 0?9r 9 051r 2 978r r 16,683 yojt 2,015r (4) Over 3 months6 months ,217r 4 314r 'LfyyjjT 14^129 13,486 Ay "3 2,546r (5) Over 6 months1 year r 3,098 l,106r *7 f f&ss 9*53 *7 Q'kJ Oox locm (6) Over 1 year (7) of all maturities ,115r 49,&lr 4,234r 65,672r 68,595r 2,923r 1,311 (8) Capital assets, liabilities... 1,178 2,014 (9) Summary ((7) + (8)) ,293r 51,895r 3,398r 65,672r Aft CQCyi 2,923r 475 (1) Demand/spot ,761r 2,706r in xu,t nice* fur JU}S((T lyjt IQOm 2,5132* (2) 3 days1 month r 16,135r /OTr 13,oipr #13t* (\J l,357r M,778r (3) Over 1 month3 months r 10,814r 3 30Qr XO,CM? I8,8r ooor 2,621r (4) Over 3 months6 months... 6,303r x. (<ZjT 14,464 1 * ion oo; AM l,060r (5) Over 6 months1 year r oo2r 8,420 8,760 jtcr (6) Over 1 year (7) of all maturities ,l67r " 51,^6r 4,4412*. 72,1942* " 3,0I7r.. 1 % u (8) Capital assets, liabilities... 1, 1, (Q) Summary ((7) + (8)),,,,.... 3,631r 69,177r 72,194r 3,017r 614 Worldwide July. (1) Demand/spot r lr V O,f\JX 17m 14,526r 14,240 doot 3,415r (2) 3 days1 month... 1/,0001 ftsiftr x?,<pur 342r 18,348 19,166 Olo l,160r (3) Over 1 month3 months... 13,4532* ll,165r 2,2881* 19,800 <cu,ojl±j?' o±j.r di im 1,4771* (4) Over 3 months6 months r L Hf r79/r» l,9r 13,322 14,119 / 1,1942* (5) Over 6 months1 year r 3,006r 2,6l6r 7,982 8,378 2,220r (6) Over 1 year... 9^ (7) of all maturities... 56,48lr 51,898r 4,583 77,445r 80,172r 2,727 1,856 (8) Capital assets, liabilities... 1, (9) Summary ((7) + (8)) ,676r r 3, r 80 I72r "C O,Ac 17O17 ( 1,014 (1) Demand/spot ,988r 10,725r 3,737r 17,890r 17,982 92r 3 J,OiCyT 9Qr» (2) 3 days1 month ,1032* 16,441r 1, r l,499r 2,837r (3) Over 1 month3 months... 12,508r 9,7232* 2,785r 18* x,xo<cr 1A9r» (4) Over 3 months6 months... 6,784r 4,625r 2,159r *876 ll27 2,032r (5) Over 6 months1 year ,474r 2,657r 1,817* 8*848r t> l,949r (6) Over 1 year ,012 7,110 2,902 3,981 4,051 70? 39 (7) of all maturities ,8692* 51,28lr 4,588r 77,88lr 8l,160r 3 279r 1,309 (8) Capital assets, liabilities.... 1,200 2, (9) Summary ((7) + (8)) ,0692* 53,301r '3,768r 77,8812* 8l,160r 3 279r 489 Aug. (1) Demand/spot ,442r 10,075r 3,6332* ,316 '265 j,poor (2) 3 days1 month ,178r 16,535r 2,357r 16,957r 18,795 l,838r h,j7pr (3) Over 1 month3 months... 12,7532* 9,375r 3,378r 19,669 21,138 1, r (4) Over 3 months6 months... 6,799r 4,909r l,890r 13, r (5) Over 6 months1 year... 4,523r 2,506r 2,017r 9,735r r 2 482r (6) Over 1 year... 10,154 7,286 2,868 4,343 4* *742 (7) of all maturities... 54,8492* 50,686r 4,163r 82,1542* 85,245 3,02* 1,072 (8) Capital assets, liabilities.... 1,089 1, (9) Summary ((7) + (8))... 55,938r 52,6l8r 3,320r 82,1542* 85,245 3 OQIt* 99Q (1) Demand/spot... 7,337 11,313 3,976 15, n9 1 Sept. (2) 3 days1 month... 15,244 15, *358 18* ,X 1*70 (7 (3) Over 1 month3 months... 11,877 9,794 2,083 20,045 21,828 1^ (4) Over 3 months6 months... 6,497 4,731 1,766 14,256 14, (5) Over 6 months1 year... 4,453 2,244 2,209 10,745 9, (6) Over 1 year... 9,522 7,166 2,356 4,601 4, ,*388 (7) of all maturities ,930 50,761 4,169 81,909 84,700 2,7 1,378 (8). Capital assets, liabilities... 1, (9) Summary ((7) + (8))... 55,988 52,726 3,262 81,909 84,700 2,7 471 I g>

143 March 1978.FOREIGN CURRENCY POSITIONS, Section VI Italian Lira Positions Table FCPVI1. Nonbanking Firms* Positions 1/ (In millions of Italian lire) Shortterm trade Forward exchange 8/ Position Liquid Shortterm Receiv Pay assets 6/ liabil position 2/ change held by Other Other Net Ex Positions at end assets g/ of month debt 2/ ables i j ables 5/ ities Bought Sold 2/ rate 10/ offices in: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Apr ,334 55, ,326 15,025 79,215 29,818 17, ,229 97, United States May ,192 97, ,327 13,265 49,204 29,499 69,040 89,995 96, United States June ,511 l,204,275r 2,746,973 l,507,255r l,962,621r l,855,015r 40, , ,169r Abroad June , , ,400 13,414 54,529 31,173 66,884 78,344 68, United States June ,759 l,308,748r 2,7,373 l,520,669r 2,017,150r l,886,l88r 107, , ,826r Worldwide July 1977 n.a. n.a. 206,360 13,434 46,877 27,089 65,231 80, , United States Aug n.a. n.a. 185,327 13,613 47,626 28,614 73,397 83,030 87, United States Sept n.a. n.a. 2,817,763 1,478,134 2,004,301 1,878,270 40, , , Abroad Sept n.a. n.a United States Sept ,669 1,386,9& 3,000,644 1,492,861 2,053,141 1,907, , , , Worldwide 135 Date Table FCPVI2. Weekly Bank Positions21/ (In millions of Italian lire) Assets and liabilities 12/ Exchange contracts 13/ Net position Banks in U.S. Foreign branch net Worldwide net Banks in U.S. Foreign branch net Worldwide net United States 14, Foreign branch 12/ (12) Worldwide 16/ Exchange rate 12/ Assets Liabilities Net Bought Sold Net (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (ID (13) (14). 4/06/77 33,555 1,679 31, , , , ,383 44,206 70, ,398 12,330 44,355 32, A3/77 33,327 9,686 23, ,070, , ,518 36, , ,549 13,356 36,518 23, /20/77 40, , ,1 158, , ,639 55,388 67,2 122,679 15,964 51,620 35, /27/77 42,809 4,165 38, ,894 1, , ,179 51,211 96, ,019 12,567 56,086 43, /04/77 49, , , , , ,116 61,183 80, ,503 12,716 53,051 40, /11/77 48,486 6,110 42, , , , ,724 50,578 80, ,405 8,202 52,941 44, /18/77 44,813 1,227 43, , , , ,799 43,296 79, , ,573 50, /25/77 54,155 10,715 43, ,8 146,358 9, ,740 45,536 51,350 96,886 2,096 51,568 49, /01/77 46,254 7,126 39, , , , ,950 43,450 80, ,002 4,322 81,325 77, /08/77 52, , , , , ,437 51, , , ,123 73, /15/77 53,600 2,997 50, , , , ,032 48,351 68, ,644 2,252 73,944 76,196 88$.35 6/22/77 60,297 6,801 53, , , ,105 L,003,883 44,778 75, ,009 8,718 89,698 98, /29/77 55,788 6,671 49, , ,003 1,014,280 L,050,4 36,211 83, ,273 12,906 92, , /06/77 55,451 6,722 48, , , ,432 L,032,738 38,306 73, ,146 10,423 85,441 95, /13/77 28,631 14,080 14, , ,302 1,021,174 L,035,051 13,877 38,705 52, , , /20/77 54,285 7,196 47, , , ,940 L,026,228 47,288 29,293 76, ,297 77, /27/77 34,650 8,928 25,722 98, , , ,9 29,593 30,205 59,798 3,871 68,722 64, /03/77 n.a. n.a. 45, , , , ,089 37,941 9,948 47,889 7,399 93, , /10/77 69,276 12,903 56, , , , ,150 46,900 30,990 77,890 9,473 94, , /17/77 60,069 7,778 52,2 113, , ,700 L,029,708 51,008 53, ,928 1,283 59,276 60, /24/77 54,653 6,486 48, , , ,981 L,032,083 53,102 28,657 81,759 4,935 87,273 82, /31/77 56,027 6,537 49,490 85, , , ,834a 55,640r 4,716 60,356r 6,150r 80,369 74,219r /07/77 n.a. n.a. 44, , ,697 8, ,341 33,147 18,585 51,732 11,529 83,436 94, /14/77 49,572 6,171 43,401 88, , ,315 1,026,303 62,988 37, ,038 19,587 51,212 31, /21/77 n.a. n.a. 46,982, , , ,557 57,622 24,270 81,892 10,640 66,768 56, /28/77 49,190 5,115 44, , , , ,987 42,789 33,946 76,735 1,286 71,064 72, Footnotes at end of Table FCPX3.

144 136 Position at end of month Liquid assets 7 j FOREIGN CURRENCY POSITIONS Section VII Japanese Yen Positions Table FCPVII1. Nonbanking Firms Positions y (In millions of Japanese yen) Shortterm trade Forward exchange 8/ Treasury Bulletin Shortterm Receiv Pay assets 6/ liabil Bought Sold Other Other Net Ex Positions position 2/ change held by debt 2/ ables i j ables 5/ ities 2/ rate 10/ offices in: (D (2) (3) (4) (5) (6) (7) (8) (9) (10 ) Apr. 19^ ,428 25,616r 47, ^25 9,989 71,214 6l',6^8r United States May , ,416 27,721r 50,063 10,001 68, ,319 69,480r United States June ,920r 278, , , , ,201 9,8 184,623r 3 0, Abroad June , ,032 25,658r 50,382 10, , ,127 74,542r United States June ,470r 279, ,041 4?7,b4JLT ' 460, , ,482 JUitJ,u Worldwide July , ,077 28,487r 35,260 10,261 & 7,m. Aug , ,361 29,285r 38,547 10,221 86,9 59>2CrH United States 88,433 62,378r United States Sept , , , ,2 416, ,528 21,377 8, , Abroad Sept !, , United States Sept , ,117 51L 473, , , ,090 98,6 271, Worldwide Date 4/06/77 4/13/77 4/20/77 4/27/77 5/04/77 5/11/77 5/18/77 5/25/77 6/01/77 6/08/77 6/15/77 6/22/77 6/29/77 7/06/77 7/13/77 7/20/77 7/27/77 8/03/77 8/10/77 8/17/77 8/24/77 8/31/77 9/07/77 9/14/77 9/21/77 9/28/77 Table FCPVH2. Weekly Bank Positions 11/ (In millions of Japanese yen) Assets and liabilities 12/ Exchange contracts 13/ Net position Banks in U.S. Foreign Worldwide branch wide United Foreign World Exchange Banks in U.S. Foreign Worldbranch net net net branch rate 17/ Assets Liabilities Net Bought Sold Net net States wide 1 / is/ (1 ) (2) (3) (4) (5) (6) (7) (8) (9) (10) (1 1 ) (12 ) (13) (14) 84,926 11,341 73, , , ,234 1,001,8 68, , ,502 4,901 67,804 72, ,592 13,200 72, , , ,808 1,039,041 67, , ,821 5,159 74,895 80, ,728 11,647 75, , ,530 1,006,607 1,064,517 57,0 323, ,169 17,171 67,190 84, ,44 82,402 13,316 69, , , ,810 1,025,638 54, , ,035 14,258 77,234, ,853 13,569 71, , , ,733 1,013,252 61, , ,540 9,765 76,044 85, ,263 14,696 56, , ,307 9,497 1,047,178 55, , , ,620 76, ,946 9,611 57, , , ,229 1,023,658 44, , ,659 12,906 82,746 95, ,811 12,680 54, , ,585 1,002,505 1,042,980 40, , ,135 13,656 78,794 92, ,333 10,240 56, , , , ,900 42, , ,416 13,359 76,004 89, ,785 10,831 54,954 3, ,847 1,030,389 1,072,400 42, , ,618 12,943 77,286 90, ,205 12,6 44, , ,494 1,019,059 1,048,571 29, , ,647 14,711 84,070 98, ,952 11,339 41, , ,613 1,014,097 1,042,049 27, , ,977 L3,66l 72,975 86, ,927 11, ,1 410, ,161 1,029,231 1,059,784 30, , ,581 19,358 79,222 98, ,980 13,016 49, , ,765 1,038,509 1,079,052 40, , ,656 9,421 77,688 87, ,398 13,247 49, , ,904 1,083,864 1,113,657 29, , ,207 19,358 75,339 94, , , , , ,942 1,005,997 1,056,743 50, , ,945 2,822 80,175 82, ,146 14,038 45, , ,816 1,034,0 1,073,078 38, , ,573 6,940 83,303 90, ,786r 10,546r 44,240r 386, ,021r 1,015,321 L,059,605i 44,284r 313,0 358,194r 441* 72,871 72,827r ,384r 16,925r 33,459r 377, ,605r 992,456 L,030,529i 38,073r 317,3 355,464r 4,614r 59,755 55,141r ,008 10,7 33, , ,521 1,060,237 1,096,395 36, , ,347 2,941 61,115 58, ,7 12,750 30, , ,765 1,064,944 1,098,767 33, , ,524 3,656 70,897 67, ,539r 17,177 32,362r 377, ,476r 1,063,566 1,093,947 30, , ,2 l,98lr 66,583 68,564r ,661 20,856 29, , ,044 1,095,386 1,113,658 18, , ,151 11,533 69,360 80, ,536 25,784 21, , ,353 1,098,806 1,114,661 15, , ,928 5,897 65,528 71, ,641 17,284 28, , ,679 1,079,395 1,098,671 19, , ,596 9,081 83,002 92, ,602 16,619 29, , ,052 1,139,770 1,150,490 10, , ,7 19,263 70,998 90, Footnotes at end of Table FCPX3.

145 End of month 1977 Apr. July. Aug. Sept. Maturity (1) Demand/spot (2) 3 days1 month... (3) Over 1 month3 months... (4) Over 3 months6 months... (5) Over 6 months1 year... (6) Over 1 year (7) of all maturities... (8) Capital assets, liabilities (9) Summary ((7) + (8))... (1) Demand/spot... (2) 3 days1 month... (3) Over 1 month3 months... (4) Over 3 months6 months... (5) Over 6 months1 year... (6) Over 1 year... (7) of all maturities... (8) Capital assets, liabilities (9) Summary ((7) + (8))... (1) Demand/spot... (2) 3 days1 month.... (3) Over 1 month3 months... (4) Over 3 months6 months.... (5) Over 6 months1 year.... (6) Over 1 year... (7) of all maturities... (8) Capital assets, liabilities, (9) Summary ((7) + (8)).... (1) Demand/spot.... (2) 3 days1 month.... (3) Over 1 month3 months.... (4) Over 3 months6 months.... (5) Over 6 months1 year.... (6) Over 1 year... (7) of all maturities..., (8) Capital assets, liabilities, (9) Summary ((7) + (8))... (1) Demand/spot.... (2) 3 days1 month... (3) Over 1 month3 months.... (4) Over 3 months6 months.... (5) Over 6 months1 year.... (6) Over 1 year (7) of all maturities..., (8) Capital assets, liabilities, (9) Summary ((7) + (8))... (1) Demand/spot *2) 3 days1 month ) Over 1 month3 months... 4) Over 3 months6 months... (5) Over 6 months1 year... (6) Over 1 year... (7) of all maturities. (8) Capital assets, liabilities. (9) Summary ((7) + (8))... Section VII Japanese Yen Positions Table FCPVII3. Consolidated Monthly Bank Positions is/ (In millions of Japanese yen) Assets 19/ (1) 129, , , ,370 67,216 29,730 1,571,989 29,807 1,601, , , , ,784 42,472 32,946 1,578,848 30,431 1,609, , , , ,138 39,451 28,194 1,590,324 30,741 1,621, , ,788 7, ,622 30,061 28,168 1,5,644 31,358 1,623, , ,351 6a, ,257 27,141 26,658 1,558,664 31,638 1,590, , J492 25,022 25,017 1,600,856 32,429 1,633,285 Balance sheet items Liabilities (2) 3, , , ,586 54,048 10,143 1,114,866 36,040 1,150, , , ,256 58,801 30,335 9,738 1,141,803 37,107 1,178,0 352, , ,792 78,327 34,493 9,324 1,146,678 ymr 1,184, , , ,155 74,959 27,329 14,838 1,170,953 38,040 1,208, , , ,672 71,576 28,561 8,008 1,153,111 35,938 1,189, , ; ,093 55,740 21,036 5,935 1,193,566 40,124 1,233,690 Net (3) 262, , ,419 56,784 13,168 19,587 Worldwide Bought (4) 233, , , , ,793 11,728 Foreign exchange contracts 20/ Sold (5) 221, , , , ,006 25, ,123 1,932,802 2,310,981 6, ,890 1,932,802 2,310, , , ,503 61,983 12,137 23, , , , , ,113 9, , , , , ,610 19, ,045 1,835,217 2,1,967 6, ,369 1,835,217 2,1, ,557 67, ,769 69,811 4,958 18, ,646 7, , , ,5 452, ,312 16, , , , , ,990 22,665 2,019,649 2,403, ,552 2tQ19t649, 2,403, , , , , , ,583 3, , ,426 77, , ,016 2, , ,508 13,330 16,303 25, ,6 2,011,156 2,364,701 6, ,009 2,011,156 2,364, , , ,886 69,681 1,420 18, , , , , ,548 27, , , , , ,837 29, ,553 2,062,754 2,402,326 4, ,253 2,062,754 2,402, , , ,556 6, , , ,378 67, , , , ,458 19,082 23,938 30, ,290 2,427,467 2,744,995 7, ,595 2,427,467 2,744,995"" Net (6) 12,174 84, , ,521 11,213 14, , ,179 5,949,9 137, ,319 15,497 10, , ,750 10, , ,498 68,657 15,678 6, , ,396 13, , ,312 58,399 15,958 9, , ,545 2, , ,858 57,939 20,289 1, , , ,806 51,745 26,689 6, , ,528 Net overall position 21/ (7) 249,926 71, ,377 69,737 1,955 5,585 78,944 6,233 72, , , ,622 45,336 3, ,295 6,676 73, ,314 61, ,271 1,154 10,720 12,557 60,250 7,094 53, ,721 2, 8a 260,392 19,264 13,226 4,278 67,146 6,682 60, ,448 4a 286,028 11,742 21,709 16,809 65,981 4,300 61, ,948 16,007 22,703 12,255 89,762 7^695 82,067 FOREIGN CURRENCY POSITIONS, & V O 0 0

146 138.FOREIGN CURRENCY POSITIONS, Section VIII Swiss Franc Positions Table FCPVIII1. Nonbanking Firms' Positions 1 / (In millions of Swiss francs) Treasury Bulletin Shortterm trade Forward exchange 8/ Position Liquid Shortterm Receiv Pay assets / liabil position 2/ change held by Other Other Net Ex Positions at end assets 2/ of month debt 2/ ables (J ables j5/ ities 2/ Bought Sold rate 10/ offices in: (1) * (2) (3) (4) (5) (6) (7) (8) (9) (10) Apr. 1^7 267,r" r, m m. 59 2it 538 3,& ,171 ' United States May , , , United States June ,5 1,13 2 l,644r 1,020 3,789r 4, Abroad June , , , United States June l,704r 1,252 4,321r 8, J.6,8.. 3, Worldwide July , , , United States Aug , , , United States Sept ,601 1,059 1, ,736 4, Abroad Sept , United States Sept ,878 2,261 1,772 1,188 4,209 8, , Worldwide Table FCPVHI2. Weekly Bank Positions n / (In millions of Swiss francs) Assets and liabilities 12/ Exchange contracts 13/ Net position Banks in U.S. Foreign Worldwide branch wide Banks in U.S. Foreign World Date branch United Foreign Worldwide 16/ rate 17/ Exchange net net net net States 1^/ branch Assets Liabilities Net Bought Sold Net 12/ (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11) (12) (13) (14) 4/06/ ,262 2,502 12,553 13, ,212 2, /13/ ,378 2,566 12,982 13, ,175 2, /20/ ,483 2,735 13,340 13, ,243 2, /27/ / ,289 2,579 13,875 14,365 * 490 1,878 2, H /05/ ,384 2,667 13,497 13, ,095 2, /11/ ,359 2,557 13,878 14, ,173 2, /18/ ,131 2,279 12,246 12, ,885 2, /25/ ,317 2,532 12,212 12, ,976 2, /01/ ,379 2,581 12,389 12, ,019 2, /08/ ,171 2,471 17,046 17, ,738 2, /15/ ,490 2,687 11,728 12, ,146 2, /22/ ,451 2,553 12,210 12, ,035 2, /29/ ,550 2,673 12,474 12, ,179 2, /06/ ,514 2,775 11,295 11, ,223 2, /13/ ,344 2,580 12,448 12, ,071 2, /20/ ,289 2,473 11,953 12, ,816 1, /27/ ,213 2,387 12,111 12, ,940 2, /03/77 458r 278p 180 2,230 2,410 11,6 12, ,893 2, /10/77 451r 252r 199 2,194 2,393 11,947 12, ,973 2, /17/ ,288 2,482 12,693 13, ,045 2, /24/ ,118 2,323 13,062 13, ,804 2, /31/ ,436 2,615 13,142 13?410r 268r 2,133 2,401r 89r r /07/ ,219 2,374 13,270 13, ,061 2,377 16lr /14/ ,299 2,452 13, ,890 2,1 148r /21/ ,020 2,149 14,107 14, ,727 2, V23/ ,437 2,549 15, ,940 2, Footnotes at end of Table FCPX3.

147 Section VIII Swiss Franc Positions Table FCPVIH3. Consolidated Monthly Bank Positions W (In millions of Swiss francs) End of month w r w : ' Maturity (1) Demand/spot... (2) 3 days1 month... (3) Over 1 month3 months... (4) Over 3 months6 months... (5) Over 6 months1 year... (6) Over 1 year... (7) of all maturities... (8) Capital assets, liabilities (9) Summary ((7) + (8))... Assets 19/ (1) 1,455 2,673r 4,442r 4,374r l,806r ,125r ,349r Balance sheet items Liabilities (2) 1,448 3,412r 3,568r 2,814 1, ,261r ,763r Net (3) 7 739r 874r l,560r 5r 571 2,864r 278 2,586r Bought (4) Foreign exchange contracts 20/ Sold (5) 4,189 4,403r 6,132r 7,031r 30,357 31,085r 9,942 10,032r 3,440 3, lj48l 55,272r 57,896r 55,272r 57,896r Net (6) 214r 899r 728r 90r ,624r 2,624r Net overall position 21/ (7) 207r 1, r l,470r 167r May. (1) Demand/spot... (2) 3 days1 month... (3) Over 1 month3 months... (4) Over 3 months6 months... (5) Over 6 months1 year... (6) Over 1 year... (7) of all maturities... (8) Capital assets, liabilities, (9) Summary ((7) + (8))... (1) Demand/spot... (2) 3 days1 month... (3) Over 1 month3 months... (4) Over 3 months6 months... (5) Over 6 months1 year... (6) Over 1 year.... (7) of all maturities..., (8) Capital assets, liabilities, (9) Summary ((7) + (8)).... 1,279 3,387* 4,541r 3,888r l,532r. 1,309 16,016r m r ~ 16,276r 1,241 3,l87r 4,234r 4,019r 1,427 l ,558r ,851r 1,254 3,895r 3,344 3, ,426r *52T" 13,947r 1,451 3,128 3,506 2, , , r 1,197* 741r m1 2,590r ~ ssr~ 2,329r r 728r l,273r ,987r 254 2,733r 3,274 3,009 5,544 6,226r 6,677 8,115r 6,195 6,246r m m r 26,197 28,693r 5,004 4,810 5,690 6,4r 7,464 8,198r 5,896 6,129r 3, I M 28,444 31,046r 28,444 31,046r r l,438r 51r 2.496r 2,496r 194 l,224r 734r 233r ,602r 2,602r 290 l,190r 241r 690r l,165r l,040r July. Aug. (1) Demand/spot... (2) 3 days1 month.... (3) Over 1 month3 months... (4) Over 3 months6 months.... (5) Over 6 months1 year... (6) Over 1 year.... (7) of all maturities..., (8) Capital assets, liabilities, (9) Summary ((7) + (8)).... (1) Demand/spot.... (2) 3 days1 month.... (3) Over 1 month3 months.... (4) Over 3 mcmths6 months... (5) Over 6 months1 year.... (6) Over 1 year... (7) of all maturities... (8) Capital assets, liabilities, (9) Sunnnary ((7) + (8)).... l,125r 3,048 4,315r 4,179r 1,121 1,533 15,321r ,582r l,246r 3,022r 4,304r 4,523r 1,127 1,588 15,8l0r ,068r 1,151 3,437 3,901r 2, ,726r ,242r l,450r 3,463 3,899r 2,671r ,099r ,592r 26r r l,607r ,595r 255 2,340r 204r 441r 405r l,852r ,711r 235 2,476r 3,754 3,877 5,666 6,927 7,933 7,715r 5,802 6,536r 2,596 1,280 2,850 1,585 27,031 29,490r 27,031 29,490r 5,5 7,081 7,330 6,851 2,309 1,503 5,500 8,190r 7,786r 7,749r 2,455 1,782 30,989 33,462r 30,989 33,462r 123 1, r 734r ,459r 2,459r 415 l,109r 456r 898r ,473r 2,473r 149r 1, r 873r r l,550r 51r 954r Sept. (1) Demand/spot.... (2) 3 days1 month.... (3) Over 1 month3 months.... (4) Over 3 months6 months... (5) Over 6 months1 year.... (6) Over 1 year..."... (7) of all maturities... (8) Capital assets, liabilities. (9) Summary ((7) + (8))... 1,376 3,150 3,890 4,728 1,110 1,508 15, ,019 1,441 3,396 3,669 2, , , , , ,669 6,095 5,475 7,748 7,935 1,7 1,477 6,719 5,964 8,522 8,221 1,959 1,652 30,647 33,037 30,647 33, ,390 2, ,

148 140 Position at end of month Liquid assets 2/ term debt 2/ FOREIGN CURRENCY POSITIONS... Section IX Sterling Positions Table FCPIX1. Nonbanking Firms Positions 1/ (In millions of pounds) Shortterm trade Receivables u Payables 1 / Other assets / Other liabilities 2/ Forward exchange 8/ Bought Sold Net position 2/ Treasury Bulletin Exchange rate 10/ (10) Positions held by offices in: (1 ) (2) (3) (4) (5) (6) (7) (8) (9) Apr ,243 l,ii J r" United States May ,206 1, United States June l,909tr 3,847r 2,855r 5*442r 4, l,280r Abro'ad June ,227 1, United States June 1977 ' 999 2,0Q2r 4,061r 3,062r 5,736r 4,431 1,435 1,603 l,133r Worldwide... July , United States Aug ,2 13 1, United States Sept ,025 1,852 3,864 3,005 5,572 4, , Abroad Sept ,1 18 1, United States Sept ,0 1,987 4,078 3,190 5,922 4,490 1,406 1,312 1, Worldwide Date Assets Table FCPIX2. Weekly Bank Positions 1 1 / (In millions of pounds) Assets and liabilities 12/ Exchange contracts 13/ Net position Banks in U.S. Liabilities (2) Net (3) Foreign branch net Worldwide net Bought (6) Banks in U.S. Sold (7) Net Foreign branch net Worldwide net United States 1 4 Foreign branch 12/ (12 ) Worldwide 1 / Exchange rate 17/ (1 ) (4) (5) (8) (9) (10 ) (1 1 ) (13) (14) 4/06/ ,462 7, /13/ ,213 7, /20/ ,410 7, /27/ ,583 7, /04/ ,489 7, /11/ ,543 7, /18/ ,361 7, /25/ ,068 8, /01/ ,207 8, /08/ ,376 8, /15/ ,330 8, /22/ ,577 8, /29/ ,667 8, /06/ ,578 8, a /13/ ,590 8, /20/ ,561 8, /27/ ,023 9, /03/ ,067 9, /10/ ,057 9, /17/ ,166 9, /24/ ,985 9, /31/ ,669 8,712r 43r lr 33r 46 79r /07/ ,806 8, /14/ ,183 9, /21/ ,973 9, /28/ ,888 8, Footnotes at end of Table FCPX3,

149 Section IX Sterling Positions Table FCPIX3. Consolidated Monthly Bank Positions is/ (In millions of pounds) & End of month 1977Apr. Maturity (1) Demand/spot... (2) 3 days1 month... (3) Over 1 month3 months... (4) Over 3 months6 months... (5) Over 6 months1 year... (6) Over 1 year... (7) of all maturities... (8) Capital assets, liabilities, (9) Summary ((7) + (8))... Assets 19/ (1) l,562r 1,217* l,l80r 577r ,833? 189 6,022r finance sheet items Liabilities (2) l,452r l,909r l,l84r 613r ,851r 207 6,058i» Net (3) 110r 692r Bought (4) 1,466 3,626 4,845 4,449 2, ,884 16,884 m exchange contracts 20/ Sold (5) 1,451 3,540 4,775 4,477 2, ,856 16,856 Net (6) Net overall position 21/ (7) 125r 606r 66r VO \ l 0 0 May. (1) Demand/spot... (2) 3 days1 month.... (3) Over 1 month3 months... (4) Over 3 months6 months.... (5) Over 6 months1 year... (6) Over 1 year.... (7) of all maturities..., (8) Capital assets, liabilities, (9) Summary ((7) + (8)).... l,585r l,252r l,097r 827r ,110r 212 6,322r l,552r l,3r l,219r 889r ,248r 226 6,474r 33r 661r ,850 3,472 5,851 4,907 2, ,6 18,6 1,755 3,340 5,743 4,887 2, ,537 18, r 529 r July. Aug. (1) Demand/spot.... (2) 3 days1 month.... (3) Over 1 month3 months.... (4) Over 3 months6 months.... (5) Over 6 months1 year.... (6) Over 1 year.... (7) of all maturities..., (8) Capital assets, liabilities, (9) Summary ((7) + (8)).... (1) Demand/spot... (2) 3 days1 month.... (3) Over 1 month3 months.... (4) Over 3 months6 months... (5) Over 6 months1 year... (6) Over 1 year... (7) of all maturities... (8) Capital assets, liabilities, (9) Summary ((7) + (8))... (1) Demand/spot... (2) 3 days1 month... (3) Over 1 month3 months.... (4) Over 3 months6 months... (5) Over 6 months1 year... (6) Over 1 year... (7) of all maturities... (8) Capital assets, liabilities. (9) Summary ((7) + (8))... l,489r l,216r l,176r 923r '6,228r 6.464r l,609r l,288r l,268r ,455r 239 6,694r l,566r l,276r l,522r 8l2r ,702r 278 6,980r l,6l8r l,636r l,350r l,095r ,357r r l,433r l,805r l,613r 1, ,486r 270 6,756r l,770r l,954r l,747r ,^60r 273 7,133r 129r r r 517r 345r r 678r 225r 78r ,611 4,338 5,771 5,294 2, ,578 2,313 4,122 5,509 5,516 2, ,178 20,178 1,740 3,988 5,738 5,223 2, ,438 19,438 1,521 4,236 5,695 5,130 2, ,399 2,352 4,070 5,428 5,321 2, ,097 20,097 1,757 3,852 5,632 4,939 2, ,193 19, r r r 465r ffir r 542r 119r 362r Sept. 1) Demand/spot... 2) 3 days1 month...,3) Over 1 month3 months... 4) Over 3 months6 months... 5) Over 6 months1 year... 6) Over 1 year... 7) of all maturities... (8) Capital assets, liabilities. (9) Summary ((7) + (8))... 1,5 1,387 1, , ,369 1,863 2,081 1, , , ,856 1,785 3,355 3,408 6,235 6,118 4,741 4,604 2,368 2, ,251 19,181 19,251 19,

150 FOREIGN CURRENCY PnarrmMg Section X United States Dollar Positions Abroad Table FCPX1. Nonbanking Firms* Foreign Subsidiaries Positions Treasury Bulletin Position at end of month (in millions of United States dollars) Shortterm trade Forward exchange 8/ Short Liquid Other Other Net term assets 2/ assets 6/ liabilities I f Bought Sold debt 2/ Receivables i j ables 5/ Position 2/ Pay (1) (2) (3) (4) (5) (6) (7) (8) (9) 5,6341* 6,259 4,071 3,982 m 19,l84r 9,066 22,853** 13,230 1,867 1, ,674** 5,449 Table FCPX2. Weekly Bank Foreign Office Positions (In millions of United States dollars) 11/ Date Net assets and liabilities 12/ Net exchange contracts 13/ Net position (1) (2) (3) 4/ ,468 3, /13/77 3,489 3, /20/77 3,523 3, /27/77 3,586 3, /04/77 3,567 3, /11/77 3,256 3, /18/77 3,544 3, /25/77 3,303 3, /01/77 3,599 3, /08/77 3,461 3, /15/77 3,330 3, /22/77 3,030 3, /29/77 3,288 3, /06/77 3,698 3, A3/77 3,540 3, /20/77 3,663 3, /27/77 3,397 3, /03/77 3,289 2, /10/77 2,835 2, /17/77 2,762 2, /24/77 2,805 2, /31/77 2,883 2, /07/77 2,943 3, /14/77 2,797 2, /21/77 2,863 2, /28/77 3,066 2, Footnote.: at end of Table FCPX3.

151 Section X United States Dollar Positions Abroad Table FCPX3. Monthly Bank Foreign Office Positions is/ (In millions of United States dollars) Worldwide End of month Maturity Assets 19/ Balance sheet items Liabilities Net Bought Foreijsn exchange contracts 20/ j; Sold (1) (2) (3) (4) (5) 1977 Apr... (1) Demand/spot (2) 3 days1 month... 20,360r 29,855r 31,841r 38,226r ll,48lr 8,371r 8,048r 12,667r 7,701r r May... (1) (2)..Net (6) 347r 687r Net overall position 21/ (7) (3) 41,387r 39,210r 2,177 15,036r 13,8l2r l,224r 3,401r (4) 30,074r 20,8r 9,l83r 12,8l5r 12, r 9,517r (5) Over 6 months1 year... 8,9r 7,609r l,310r 6,9l8r 6, r l,708r (6) Over 1 year r r r (7) 139,906r 143,179r 3,273r 56,708r 53,365r 3,343r 70 (8) Capital assets, liabilities (9) Summary ((7) + (8)) ,216r 143,971r 3,755r 56,708r 53,365r 3,343r 412 I8,574r 31,225r 29,684r 40,868r ll,110r 9,643r (3) Over 1 month3 months... 43,531r 41,064r 2,467r 16,966r 15,700 l,266r 3,733r (4) Over 3 months6 months... 31,278r 21,959r 9,319r 13,637r 13, r 9,617r (5) 8,827r 7,48lr l,346r 7,089r 6, r l,596r (6) Over 1 year r r r (7) 142,773r 146,228r 3.455r r r 3.256r 199 (8) Capital assets, liabilities (9) 143, ,681r 3,640r 60,250r 56,994r 3,256r 384 June (1) Demand/spot.... I6,8l9r 29,002r 12,l83r 9,255 8,963r 292r ll,8r (2) 33,375r 43,560r 10,l85r 16,757r 15,685r l,072r 9,113r (3) 44,710r 43,041r 4,669r 17,315r 16,396 9 r 5,588r (4) 33,431r 24,545r 8,886r 13,683r 13, r 9,116r (5) Over 6 months1 year... 8,679r 7,373r l,306r 6,7r 6,626 2r l,597r (6) 9,856r 5,617 4,239r 1, ,700r (7) 149,870r 153,138r 3,268r 65,363r 62,098r 3,265r 3 (8) Capital assets, liabilities (9) 150,149r 153,626r 3,477r. 65,363r 62,098r 3,265r 212 Tiiiy... (1) Demand/spot ,311r 31,090r 13,779r 11,982 11,622r 360r 13,419r (2) 33,7r 39,4r 6,123r 15,266r 13,960 l,306r 4,817r (3) Over 1 month3 months... 45,319r 42,474r 2,845r I6,655r 15, r 3,570r (4) 31,159r 22,860r 8,299r 14,5l6r 14, r 8,562r (5) 8,159r 6,479r l,680r 6,565r 6,685r 120r l,560r (6) Over 1 year ,074r 6,075 3,999r 1,578 1, ,508r (7) of all maturities ,81 r 148,892r 3,079r 66,562r 63,519r 3,043r 36 (8) Capital assets, liabilities i72 (9) 146,159r 149,410r 3,251r... TTf^ 2v. 63,519r 3,0^r 20$ Aug... (1) Demand/spot ,783r 26,377r 9,594r 10,696 10,567r 129r 9,465r (2) 3 days1 month ,110 r 43,004r 10,894r 16,076r 14,888 l,188r 9,706r (3) Over 1 month3 months... 48,l88r 44,466r 3,722r 17,899r 17, r 4,550r (4) 29,417r 21,384r 8,033r 14,686r 14,348r 338r 8,371r (5) 8,847r 6,933r l,4r 6,809r 7,104r 295r l,619r (6) 10,079r 5,947 4,132r 1,639 1, ,668r (7) 145,424r 148,lllr 2,687r 67,805r 65,08lr 2,724r 37 (8) (9) 145,673r 148,629r 2,956r 67,805r 65,08lr 2,724r 232 Sept... (1) Demand/spot ,909 26,716 6,807 10,126 10, ,763 (2) 3 days1 month... 34,225 46,594 12,369 15,432 14,235 1,197 11,172 (3) Over 1 month3 months... 47,348 46,195 1,153 18,370 17, ,131 (4) Over 3 months6 months ,793 22,542 9,251 15,219 14, ,877 (5) Over 6 months1 year.... 8,311 6,626 1,685 7,220 7, ,129 (6) Over 1 year... 9,710 5,539 4,171 1,5 1, ,627 (7) of all maturities , ,212 2,6 67,958 65,213 2, (8) Capital assets, liabilities (9) Summary ((7) + (8)) , ,770 3,152 67,958 65,213 2, ,759r 13,325r 7,679r 12,324r 80r l,001r ll,134r 7,684r ll,030r 8,642r.FOREIGN CURRENCY POSITIONS.

152 144 Treasury Bulletin.FOREIGN CURRENCY POSITION& SECTION I 1/ Worldwide net positions on the last business day of the calendar quarter of nonbanking business concerns in the United States and their foreign branches and majorityowned partnerships and subsidiaries. Excludes receivables and installment paper which have been sold or discounted before maturity, U.S. parent companies' investment in their majorityowned foreign subsidiaries, fixed assets (plant and equipment) and capitalized leases for plant and equipment. 2/ Foreign branches and majorityowned partnerships and subsidiaries only. 3/ Weekly worldwide net positions of banks and banking institutions in the United States, and their foreign branches and majorityowned foreign subsidiaries. Excludes capital assets and liabilities. 4/ Foreign branches and majorityowned subsidiaries only. 5 / Monthly worldwide net positions including capital assets and liabilities on the last business day of the month of banks and banking institutions in the United States and their foreign branches and majorityowned subsidiaries. 6 / Foreign branches and majorityowned subsidiaries only. 6/ All current assets other than liquid assets and shortterm trade receivables, and financial assets maturing in more than one year from the report date. Includes intracompany accounts, inventories, prepayments, longterm trade receivables, longterm intracompany claims, and stocks, bonds, and other securities. Fixed assets (plant and equipment) and parents' investment in majorityowned foreign subsidiaries are excluded. J/ All financial liabilities other than shortterm debt and shortterm trade payables; includes longterm trade payables; intracompany liab ilities, accrued expenses, and liabilities maturing in more than one year from the report date. Capitalized plant and equipment leases are excluded. 8/ Outstanding amounts of foreign exchange which have been contracted to be received or delivered in the future. Excludes spot exchange. 9/ Columns (1 ),(3 ),(5 ), and (7) less columns (2 ),(4 ),(6 ), and (8). 10/ Representative rates on the report date. Canadian dollar and United Kingdom pound rates are expressed in U.S. dollars per unit of foreign currency, a ll others in foreign units per U.S. dollar. SECTIONS II THROUGH X 1/ Positions of nonbanking business concerns in the United States and their foreign branches and majorityowned partnerships and subsidiaries. In section X, positions of foreign branches and majorityowned partnerships and subsidiaries only. 2/ Includes unsettled spot foreign exchange purchase contracts, as well as currency, demand and time deposits, negotiable and other readily transferable financial instruments maturing in one year or less from the report date, and intracompany claims and loans to other parties repayable on demand. Other loans, accounts receivable, and unaccepted trade drafts are excluded. 3/ Includes unsettled spot foreign exchange sales contracts, intracompany liabilities, other than shortterm trade payables, shortterm borrowings due in one year or less from the report date, and the current portion of longterm debt. accounts payable are excluded. Other loans, accrued expenses and 4 / Due in one year or less; includes intracompany trade receivables. Receivables and installment paper sold or discounted before maturity are excluded. 11/ Banks and banking institutions in the United States and their foreign branches and majorityowned subsidiaries. In section X, foreign branches and majorityowned subsidiaries only. 12/ Excludes capital assets and liabilities. 13/ Includes both spot and forward exchange contracts. 14/ Sum of columns (3) and (8). 15/ Sumof columns (4) and (9). 16/ Sum of columns (5) and (10). 17/ See footnote / See footnote / Fixedrate loans are reported by time remaining to final maturity or the nearest call date, whichever is earlier, and floatingrate loans by time remaining to the nearest interestfixing date. 20/ Option forward exchange contracts are reported by time remaining to the nearest option exercise date. 21/ Sum of columns (3) and (6). r Revised. n.a. Not available. 5 / Due in one year or less; includes intracompany trade payables.

153 March 1978 FINANCIAL OPERATIONS OP GOVERNMENT AGENCIES AND FUNDS. 145 Government Corporations and Other Activities Treasury Department Circular No. 966, Revised, dated December 20, 1972, and volume I, part 2, chapter 4100 of the Treasury Fiscal Requirements Manual (Transmittal Letter No. 186) require Government agencies to submit businesstype financial statements and related information to the Department of the Treasury for use in compiling financial reports of the U.S. Government. The circular //as originally issued In 1956 pursuant to the authority of Section 114 of the Budget and Accounting Procedures Act of 1950 (31 TJ.S.C. 66b) which requires the Secretary of the Treasury to prepare reports on the financial operations of the U.S. Government. Department Circular No. 966, Revised, requires submission of semiannual financial statements by all Government corporations specifically subject to the Government Corporation Control Act, as abided (31 U.S.C. 846, 856) and any wholly owned and mixedownership corporations subsequently brought under the provisions of the act, and all other activities operating as revolving funds. Other businesstype activities required to report semiannually include activities and agencies whose operations, services, or functions are largely self liquidating or primarily of a revenueproducing nature or whose activities result in the accumulation of substantial inventories, investments, and other recoverable assets. Regular governmental activities, which are of a nonbusinesstype nature, are required to report on an annual basis. Two basic kinds of financial statements are called for by Department Circular No. 966, Revised; and they are published in the Treasury Bulletin. Statements of financial condition are required for all activities. Statements of income and retained earnings are required for businesstype activities only. The statements of financial condition for businesstype activities appear in Section I, Table GAI1 and are published semiannually. The first statements of financial condition published under the revised circular were as of December , applied to businesstype activities only, and appeared in the May 1973 issue of the Bulletin. Statements of financial condition submitted annually by nonbusinesstype activities were published together with businesstype activities in Section I, Table GAI1 in the January 1974 issue of the Bulletin. loans shown on the agencies' statements of financial condition and held by the agencies, and loans guaranteed and insured by the agencies are reported on a quarterly basis. The first quarterly table on this Federal credit data, which was as of March 31, 1973, appeared in Section III, Table GA HI2 in the August 1973 issue of the Bulletin. The first semiannual statements of income and retained earnings submitted under the revised circular were for the period July 1, 1972, through December 31, 1972, and appeared in Section I, Table GAI2 in the June 1973 issue of the Bulletin. All revolving funds shown in the statements are noted to indicate whether they are public enterprise funds, intragovernmental funds, or trust revolving funds; and trust funds are also noted. Direct sales and repurchases of loans are published on a monthly basis in Section II, Table GAII1.

154 146 Treasury Bulletin FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I Financial Statements of Government Agencies and Funds Table GAI1. Statements of Financial Condition, September 30, 1977 (In thousands of dollars) Legislative Branch Account y Senate House of Representatives Joint items for Senate and House Congressional Budget Office Architect of the Capitol ASSETS Selected current assets: Fund balances with Treasury: Deposit funds... 2,415,992 6,745 2, Foreign currency funds... 1,496,520 Allowances,foreign currency funds(). 236 Federal security holdings (at par) ,909,296 1,939 Accounts receivable: Government agencies... 11,035,859 1,452 The public... 14,555, Allowances () , Advances to: Government agencies... 6,038,168 The public... 7,448,929 1,252 Budget funds... Budget clearing accounts ,516,0$3 459, , ,410 35, ,860 1, ,401 selected current assets ,331, ,837 28,410 38,476 51,860 1, ,876 Loans receivable: Repayable in dollars... 66,999,9 Repayable in foreign currencies... 2,066,068 Allowances ()... 2,432,241 Inventories: Items for sale... 13,962,466 21, ,808 Raw materials and inventories... 1,789,647 15,473 Stockpile materials and commodities... 26,385,541 Allowances () ,200 1,065 Real properly and equipment: Land ,799, Structures and facilities ,951,774 8,656 Equipment... 98,806,747 70,727 Leasehold improvements... 1,232,770 Acquired security, pending disposition. 1,597,006 Allowances ()... 13,623,867 39,4 Other assets: Workinprocess, contractors... 18,513,701 Materials and supplies other... 15,498, Other... 52,437,647 2,5 Allowances () ,277 assets ,964, 5702/ 731,833 28,410 38,476 51,860 1, ,876 INABILITIES Selected current liabilities: Accounts payable: Government agencies ,334,343 32,832 The public... 33,712, ,340 2, ,585 Advances from: Government agencies... 1,014,395 16,095 The public... 9,708,365 18,198 selected current liabilities... 51,769,614 1,465 2, ,585 Deposit fund lia b ilitie s... 2,349,110 6,745 2,721 Unfunded liabilities: Accrued annual leave... 4,548,861 10,723 Other ,092,656 Debt issued under borrowing authority: Borrowings from Treasury... 22,815,251 Agency securities outstanding... 11,220,519 Other... 7,492,606.2/ Other lia b ilitie s... 75,133,264 lia b ilitie s ,421, ,933 5, ,060 GOVERNMENT EQUITY Unexpended budget authority: Unobligated ,310, , ,262 Undelivered orders ,770, ,883 1,430 Unfinanced budget authority ( ): Unfilled customer orders... 13,494,719 84,731 Contract authority ,814,608 7,446 7,446 Borrowing authority... 66,260,892 Invested capital ,668, ,802 28,410 h/ 33,260 4/ 51,860 y Other equity: Receipt account equity Unappropriated receipts ()... Foreign currency fund equity... 3,523,860 Government equity ,542, ,900 28,410 33,457 51,860 1,430 96,816 liabilities and Government equity.. 797,964, ,833 28,410 38,476 51,860 1, ,876 Footnotes at end of section.

155 March 1978 irmanrtat. OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I Financial Statements of Government Agencies and Funds Table GAI1. Statements of Financial Condition, September 30, 1977 Continued Library of Congress (In thousands of dollars) Legislative Branch Continued Government Printing Office Memo: United States Tax Court Account General and trust funds Revolving fund (IR) All other Funds transferred to others General Accounting Office General and trust funds ASSETS Selected current assets: Fund balances with Treasury: 57,333 94,905 34,786 60, , Budget clearing accounts... * 1 2, Allowances,foreign currency funds() Federal security holdings (at par)... 1, Accounts receivable: Government agencies , , Advances to: Government agencies... The public , , , ,694 60, ,963 1,506 Loans receivable: Repayable in foreign currencies... Allowances ( )... Inventories: Items for sale... 21,310 21,310 Workinprocess... Raw materials and inventories... 15,162 15, Stockpile materials and commodities... Allowances ( )... Real property and equipment: Land... Structures and facilities... Equipment... Leasehold improvements... Acquired security, pending disposition. Allowances ( )... Other assets: Work inprocess, contractors... Materials and supplies other... 4,179 1, ,656 61,498 38,393 1,065 59,099 30, ,656 2,399 8, Other... 2,459 2,459 Allowances ( )... assets... 66, ,119 2,498 63, , LIABILITIES Selected current liabilities: Accounts payable: Government agencies... The public... Advances from: Government agencies... The public ,105 26,779 46,849 25,394 45,250 1,385 1,599 16,095 18,198 16,095 18,198 selected current liabilities... 6, , ,937 2,984 10, Deposit fund lia b ilitie s... 2, Unfunded liabilities: Accrued annual leave , Other... Debt issued under borrowing authority: Borrowings from Treasury... Agency securities outstanding... Other... Other liab ilities... liab ilities... 8, , ,937 3, ,901 1,098 5,571 4,746 2, Z Unexpended budget authority: Unobligated... Undelivered orders... Unfinanced budget authority ( ): Unfilled customer orders... Contract authority... Borrowing authority... Invested capital... Other equity: Receipt account equity... Unappropriated receipts ( )... Foreign currency fund equity... 16,876 36,653 4, , ,140 84,731 69, ,134 57,354 Government equity , liabilities and Government equity.. 66, ,119 2,498 63, ,975 4,152 Footnotes at end of section. 84,731 66,803 4,600 52,786 2, ,568 7, , ,438 ' 1

156 148 Treasury Bulletin.FINANCIAL OPERATIONS OF GOVERNM ENT AGENCIES AND FUNDS Section I Financial Statements of Government Agencies and Funds Table GAI1. Statements of Financial Condition, September 30, 1977 Continued Account (In thousands of dollars) Legislative Branch Con. The Judiciary Executive Office of the President United States Memo: Tax Court Con. 5/ Memo: Office of All Funds Management other Funds Funds General and transferred transferred and Budget transferred trust funds from others to others to others ASSETS Selected current assets: Fund balances with Treasury: Budget funds... 1,262 6,428 48,552 * 2,611 10,831 4,096 Budget clearing accounts * Deposit funds , Foreign currency funds... Allowances,foreign currency funds(.). Federal security holdings (at par)... 41,469 Accounts receivable: Government agencies ,949 The public... * Allowances ( )... Advances to: Government agencies... The public selected current assets... 1,262 6,455 90,303 * 2,770 20,617 4,243 Loans receivable: Repayable in dollars... Repayable in foreign currencies... Allowances ()... Inventories: Items for sale... Workinprocess... Raw materials and inventories Stockpile materials and commodities... Allowances ( )... Real property and equipment: Land... Structures and facilities... Equipment , 2,143 Leasehold improvements... Acquired security, pending disposition. Allowances ( )... Other assets: Workinprocess, contractors... 20,956 Materials and supplies other... Other... Allowances ( )... assets...,... 22,218 6,558 90,303 * 3,534 23,798 6,385 LIABILITIES Selected current liab ilities: Accounts payable: Government agencies , The public , ,584 2,175 Advances from: Government agencies... The public... * selected current liabilities , ,724 2,951 Deposit fund lia b ilitie s , Unfunded liabilities: Accrued annual leave Other Debt issued under borrowing authority: Borrowings from Treasury.... Agency securities outstanding... Other.... Other lia b ilitie s... lia b ilitie s , ,8 3,084 GOVERNMENT EQUITY Unexpended budget authority: Unobligated ,946 51,714 * Undelivered orders ,948 8,708 2,595 6,719 1,159 Unfinanced budget authority ( ): Unfilled customer orders..... Contract authority... Borrowing authority... Invested capital... 20, ,753 2,143 Other equity: Receipt account equity * Unappropriated receipts ( )... Foreign currency fund equity... Government equity... 22,030 5,900 60,422 * 3,388 9,908 3,302 liabilities and Government equity.. 22,218 6,558 90,3(53 *... "23, W ' 1 6,385 Footnotes at end of section.

157 March FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I Financial Statements of Government Agencies and Funds Table GAI1. Statements of Financial Condition, September 30, 1977 Continued (In thousands of dollars) Executive Office of bhe President Con. Funds appropriated to the President Account Special Action Office for. Drug Abuse All other Appalachian regional uc vvxv^/ui«u u Memo: Memo: Revolving fund Tn+al luucu. Funds 6 / transferred from others Funds transferred to others Appalachian housing fund (PE) ASSETS Selected current assets: Fund balances with Treasury: Budget funds ,787 6, ,797,837 24,271 2,702 Budget clearing accounts ,933 Deposit funds... 7,605 3,868 Foreign currency funds... 96>772 Allowances,foreign currency funds (). 23? Federal security holdings (at par) ,515 Accounts receivable: Government agencies , ,670 The public ,7 Allowances ( )... Advances to: Government agencies... 16,403 The public ,714 selected current assets ,632 15, ,437,268 24,271 2,702 Loans receivable: Repayable in dollars... 14,253,881 Repayable in foreign currencies... 2,047,089 Allowances ( )... 2,000 Inventories: Items for sale... Raw materials and inventories... Stockpile materials and commodities... Allowances ( )... Real property and equipment: Land Structures and facilities... 4,735 Equipment... 1,039 26,095 Leasehold improvements Acquired security, pending disposition. Allowances ( ) Other assets: Workinprocess, contractors... Materials and supplies other... 1,778 Other ^523 Allowances ( ) assets ,632 16, ,399,277 24,271 2,702 LIABILITIES Selected current liabilities: Accounts payable: Government agencies ,103 The public , , Advances from: Government agencies... " The public... 19,113 " ' selected current lia b ilitie s , , Deposit fund liabilities... 7,605 3,868 Unfunded liabilities: Accrued annual leave ,965 Other... Debt issued under borrowing authority: Borrowings from Treasury... Agency securities outstanding... Other... Other lia b ilitie s... lia b ilitie s , , S f f l W T EQUITY Unexpended budget authority: Unobligated ,036,253 11, Undelivered orders... 4,830 5, ,947,466 22,523 2,683 Unfinanced budget authority ( ) : Unfilled customer orders... Contract authority... 10,300 10,300 Borrowing authority... 5,815,000 Invested capital ,889,400 Other equity: Receipt account equity ,908,942 Unappropriated receipts ( )... Foreign currency fund equity... 2,106,119 Government equity ,851 6, ,062,881 24,059 2,702 liabilities and Government equity ,632 16, ,309,277 24,271 2,702 Footnotes at end of section.

158 150 Treasury Bulletin Account ASSETS Selected current assets: Fund balances with Treasury: FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I Financial Statements of Government Agencies and Funds Table GAI1. Statements of Financial Condition, September 30, 1977 Continued Appalachian regional development programs Continued General fund Memo: fin thousands of dollars) Funds appropriated to the President Continued Funds transferred to others Expansion of defense production Memo: Funds transferred to others International security assistance Pevolving fund Liquidation of foreign military sales fund (PE) All other Memo* Funds transferred to others Budget funds... 21, , ,660 21, ,848 7,433,230 Budget clearing accounts... ~ Deposit funds... Foreign currency funds... ~ ~ / ~ Allowances,foreign currency funds() ~ Federal security holdings (at par)... ~ Accounts receivable: Government agencies ,695 The public... 7 ~ 1 Allowances ()... ~ * Advances to: Government agencies ,363 The public... * 17,630 9,950 selected current assets... 21, , ,701 21, ,848 7,456,876 Loans receivable: Repayable in dollars ,901,518 9,149 1,892,369 Repayable in foreign currencies... Allowances ()... Inventories: Items for sale... Work in**process... Raw materials and inventories... ~ ~ Stockpile materials and commodities... Allowances ()... Real property and equipment: Land... Structures and facilities... Equipment Leasehold improvements... Acquired security, pending disposition. Allowances ()... Other assets: Workinprocess, contractors Materials and supplies other... Other... Allowances ()... ~ asseti... ' 21,570 ' ',64M ,701,219 31,002 2,670,217 7,456,876 LIABILITIES Selected current liabilities: Accounts payable: Government agencies... 9,355 The public , ,939 67,298 Advances from: Government agencies... The public... 4,841 4,841 selected current liabilities ,21^ 4,841 4, ,237 Deposit fund liabilities... Unfunded liabilities: Accrued annual leave Other... Debt issued under borrowing authority: Borrowings from Treasury... Agency securities outstanding... Other... Other liabilities... liabilities ,387 4,841 4, ,237 Unexpended budget authority: Unobligated... 11,817 20, ,123 12, ,314 7,633 Undelivered orders... 19, , ,536 9, ,534 16,119,023 Unfinanced budget authority (): Unfilled customer orders... Contract authority... 10,300 9,220,017 Borrowing authority... Invested capital ,350 4,350 Other equity: Receipt account equity... 1,892,369 1,892,369 Unappropriated receipts ()... Foreign currency fund equity... Government equity... 21, , ,696,379 26,162 2,670,217 6,906,639 liabilities and Government equity.. 21, , ,701,219 "5r,%5. 2,670,217 7,456,876 Footnotes at end of section.

159 March Account FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I Financial Statements of Government Agencies and Funds Table GAI1. Statements of Financial Condition, September 30, 1977 Continued (In thousands of dollars) Funds appropriated to the President Continued International financial Agency for International Development institutions, and programs Revolving funds Memo: Funds transferred to others 2/ Alliance for progress loan fund (PE) Development loan fund (PE) Development loan fund liquidation account (PE) Housing guaranty fund (PF) ASSETS Selected current assets: Fund balances with Treasury: Budget funds ,694 6,295,689 4,625,516 85,844 48,599 46,603 Budget clearing accounts... 1,933 Deposit funds... 3,783 Foreign currency funds... 96,772 Allowances,foreign currency funds(). 235 Federal security holdings (at par)... Accounts receivable: Government agencies... 24, The public... 99,755 16,362 34,023 8, Allowances ().... Advances to: Government agencies... 16,403 The public... 66, selected current assets ,694 6,295,689 4,934, ,236 83,177 8,402 47,793 Loans receivable: Repayable in dollars... 12,330,795 3,346,143 7,167, ,040 Repayable in foreign currencies... 2,047, ,704 Allowances ()... Inventories: Items for sale... Workinprocess... Raw materials and inventories... Stockpile materials and commodities... Allowances ()... Real property and equipment: Land w Structures and facilities... 4,735 Equipment... 25,722 Leasehold improvements... 3 Acquired sec verity, pending disposition. Allowances ()... Other assets: Workinprocess, contractors... Materials and supplies other... 1,778 Other... 5,742, ,523 2,645 Allowances () assets ,694 12,037,803 19,885,392 3,448,378 7,250, ,146 50,437 LIABILITIES Selected current liabilities: Accounts payable: Government agencies... 37, , The public... 6, Advances from: Government agencies... The public... selected current liabilities... 37, , Deposit fund liabilities... 3,783 Unfunded liabilities: Accrued annual leave... 13, Other.... Debt issued under borrowing authority: Borrowings from Treasury... Agency securities outstanding.... Other... Other liabilities... liabilities... 37, , GOVERNMENT EQUITY Unexpended budget authority: Unobligated... 5,985,694 4,066, ,522 16,359 34,041 45,990 Undelivered orders... 2,192,195 4,185,157 85,607 48, Unfinanced budget authority (): Unfilled customer orders... «. Contract authority... Borrowing authority... 5,715,000 Invested capital ,742,114 12,865,378 3,346,146 7,167, ,040 2,517 Other equity: Receipt account equity... 16, ,223 Unappropriated receipts ()... I Foreign currency fund equity... 2,106, ,883 Government equity ,694 12,000,585 19,666,750 3,44^,ill 449,146 4$,4S2 liabilities and Government equity.. 270,694 12,037,803 19,885,392 3,448,378 7,250, ,146 50,437 Footnotes at end of section.

160 152 Treasury Bulletin Account FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I Financial Statements of Government Agencies and Funds Table GAI1. Statements of Financial Condition, September 30, 1977 Continued Revolving funds Con. Acquisition of property Revolving fund (IR) (In thousands of dollars) Funds appropriated to the President Continued Common defense, economic, and triangular trade loans Agency for International Development Continued Foreign currency loans Private ^enterprises Loans of predecessor agencies in Other Foreign currency liquidation t r programs ASSETS Selected current assets: Fund balances with Treasury: Budget funds.... 7, # 70,445 4,366,134 1,933 Deposit funds.... 3,783,924 Foreign currency funds... 3,754 Allowances,foreign currency funds() +103 Federal security holdings (at par)... Accounts receivable: ,177 The public ,675 4,139 11,604 9,855 3,544 Allowances ()... Advances to: Government agencies... The public ,948 16,400 59,419 selected current assets.... 8,459 14,543 4, xcyjiyj 80,300 97,872 4,475,389 Loans receivable: Repayable in dollars... 24,373 fsoq Repayable in foreign currencies... 1,136,085 80, ,048 ' 52*531 Allowances ()... Inventories: Items for sale Raw materials and inventories... Stockpile materials and commodities... Allowances ().... Real property and equipment: Land Structures and facilities... Os Equipment... 25,722 Leasehold improvements.... " 5 3 Acquired security, pending disposition. Allowances () Other assets: Workinprocess, contractors... Materials and supplies other... ~ ~ Other... Allowances () I assets... 9,012 1,175,001 84,861 1,107,377 1,167,588 97, Z LIABILITIES Selected current liabilities: Accounts payable: Government agencies... 1, ,095 The public Advances from: 5,887 Government agencies... The public.... selected current liabilities... 1,159 5, ,095 Deposit fund liabilities... 3,783 Unfunded liabilities: Accrued annual leave Other Debt issued under borrowing authority: Borrowings from Treasury... Agency securities outstanding... Other... Other liabilities... liabilities , ,553 GOVERNMENT EQUITY Unexpended budget authority: Unobligated... 6,546 53,680 Undelivered orders... 7*5/ (SH 70,445 38,305 Unfinanced budget authority (): Unfilled customer orders... Contract authority... Borrowing authority... Invested capital ,970 1,034,757 Other equity: Receipt account equity... Unappropriated receipts ()... 3,334 9,084 " 1, All other 1,778 13, ,906 3,940,673 Foreign currency fund equity... 1, , ,073 53,301 Government equity ,175,001 84,861 1,107,377 1,167,588,985 4,835,479 liabilities and Government equity ,175,001 84,861 1,107,377 1,167,588 97,872 5,045,032 Footnotes at end of section. 555,967

161 March Account FTNANfnAT. OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I Financial Statements of Government Agencies and Funds Table GAI1. Statements of Financial Condition, September 30, 1977 Continued (In thousands of dollars) Funds appropriated to the President Continued Agency for International Development Con. Memo: Funds transferred from others Revolving fund Commodity Credit Corporation Other (PE) Funds transferred to others Inter American Foundation (PE) Overseas Private Investment Corporation (PE) 20/ 1 1 /... Other Memo: Funds transferred to others ASSETS Selected current assets: Fund balances with Treasury: Budget funds... 20,025 2,269,697 61,501 16,009 59,243 2, ,423 Budget clearing accounts... Deposit funds Foreign currency funds Allowances,foreign currency funds(). Federal security holdings (at par) ,515 Accounts receivable: Government agencies... 20,451 13, The public ,770 3 Allowances ().... Advances to: Government agencies... The public selected current assets... 41,293 2,283,392 61,542 16, ,137 2, ,933 Loans receivable: Repayable in dollars... 21,568 Repayable in foreign currencies... Allowances ()... 2,000 Inventories: Items for sale... Workinprocess... Raw materials and inventories... Stockpile materials and commodities... Allowances ()... Real property and equipment: Land... Structures and facilities... 1,443 Equipment * 1,880 Leasehold improvements Acquired security, pending disposition. Allowances () Other assets: 207 Workinprocess, contractors... Materials and supplies other... 5,149 Other... Allowances ()... assets... 41,293 2,283,392 61,542 16, ,877 2, ,404 LIABILITIES Selected current liabilities: Accounts payable: Government agencies ,541 49, ,730 The public , Advances from: Government agencies... The public selected current liabilities ,5a 49, , ,319 Deposit fund liabilities... Unfunded liabilities 85 Accrued annual leave Other... Debt issued under borrowing authority: Borrowings from Treasury... Agency securities outstanding... Other... Other liabilities... liabilities ,541 49, , ,319 GQVm^NT EQUITT Unexpended budget authority: Unobligated... 20,025 1,766 3,270 10, ,015 2, ,634 Undelivered orders... 20,707 2,266,086 8,690 5,460 52, ,173,386 Unfinanced budget authority (): Unfilled customer orders ,406 Contract authority... Borrowing authority ,000 Invested capital ,740 * 8,471 Other equity: Receipt account equity... Unappropriated receipts ()... Foreign currency fund equity Government equity ,267,851 11,999 16, ,543 2, ,085 liabilities and Government equity.. 41,293 2,283,392 61,542 16, ,877 2, ,404 Footnotes at end of section.

162 154 Treasury Bulletin FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND F U N D S Section I Financial Statements of Government Agencies and Funds Table GAI1. Statements of Financial Condition, September 30, 1977 Continued (In thousands of dollars) Agriculture Department Agricultural Research Service Cooperative State Research Service Account Memo; Animal and Plant Health Memo: Funds transferred to others Inspection Service Funds transferred from others Extension Service ASSETS Selected current assets: Fund balances with Treasury: Budget funds... 4,248,267 95,346 2,377 36,987 50,042 1,935 39,996 Budget clearing accounts... 17, Deposit funds , Foreign currency funds... Allowances,foreign currency funds(). Federal security holdings (at par)... 31,590 Accounts receivable: Government agencies ,824 9,840 3,874 1,079 2,564 The public... 1,010, Allowances ()... 54,615 Advances to: Government agencies ,280 2,286 3,351 The public ,469 1,268 * 238 selected current assets... 6,423, ,063 2,377 45,401 51,385 1,935 42,937 Loans receivable: Repayable in dollars... 12,214,039 Repayable in foreign currencies... Allowances () ,149 Inventories: Items for sale ,998 Work inprocess Raw materials and inventories... 12, Stockpile materials and commodities Allowances () ,598 Real property and equipment: Land ,652 13, Structures and facilities... 3,795, ,2a 7,200 Equipment , ,970 38, Leasehold improvements... 11, Acquired security, pending disposition. 147,213 Allowances () , ,900 4, Other assets: Workinprocess, contractors... 35,509 27,718 7,7 Materials and supplies other... 2,559 1,338 Other ,624 Allowances ()... 3,168 assets... 24,272, ,582 2,377 96,323 51,684 1,935 43,109.LIABILITIES Selected current liabilities: Accounts payable: Government agencies ,187 3,272 3, The public... 1,662,741 38, , ,409 Advances from: Government agencies... 12,604 ' The public , selected current liabilities... 2,956,930 41, , ,889 Deposit fund liabilities... Unfunded liabilities: 377, Accrued annual leave ,164 15,427 8, Other... 1,397 Debt issued under borrowing authority: Borrowings from Treasury... 8,050,175 Agency securities outstanding ,248 Other ,282 Other liabilities... 6,169,001 liabilities... 17,850,230 57, , ,363 GOVERNMENT EQUITY Unexpended budget authority: Unobligated... 7,232,215 8, ,229 3 Undelivered orders... 7,771,542 58,868 1,748 19,801 50,9 1,935 1, Unfinanced budget authority (): Unfilled customer orders... 4, Contract authority ,781 Borrowing authority... 11,785,307 Invested capital... 3,339, ,092 42, Other equity: Receipt account equity... Unappropriated receipts () , , Foreign currency fund equity... Government equity... 6,422, ,486 2,364 68,927 51, lr7/t6 liabilities and Government equity.. 24,272, ,582 2,377 96,323 51,684 1, Footnotes at end of section. 93

163 March FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I Financial Statements of Government Agencies and Funds Table GAI1. Statements of Financial Condition, September 30, 1977 Continued Account (In thousands of dollars) Agriculture Department Continued Extension Foreign Agricultural Service Agricultural Stabilization and Service Con. Memo: Conservation Service Memo: Fund transferred Memo: Federal from others Funds Crop transferred Funds Insurance transferred Revolving fund from others Funds transferred Corporation Revolving fund Commodity (PE) 12/ from others Credit Corporatio Doirmodity to others i Credit Corporatioi l (PE) ASSETS Selected current assets: Fund balances with Treasury: 1,442 29, , ,597 Deposit funds Foreign currency funds... Allowances,foreign currency funds(). Federal security holdings (at par)... Accounts receivable: Government agencies , The public * 258,043 Allowances ()... 2,204 Advances to: Government agencies The public ,117 93,035 Budget funds... Budget clearing accounts ,792 52,073 selected current assets... 1,442 31, , , ,104 Loans receivable: Repayable in dollars... Repayable in foreign currencies... Allowances ()... Inventories: Items for sale... Workinprocess... Raw materials and inventories... Stockpile materials and commodities... Allowances ()... Real property and equipment: Land... Structures and facilities... Equipment... 2,018 3, Leasehold improvements... Acquired security, pending disposition. Allowances () , Other assets: Workinprocess, contractors... Materials and supplies other Other Allowances ()... assets... 1,442 33, , , ,350 LIABILITIES Selected current liabilities: Accounts payable: Government agencies , The public... 1,824 50, ,807 Advances from: Government agencies... The public ,133 54, ,278 selected current liabilities ,876 93, , ,564 Deposit fund liabilities Unfunded liabilities: Accrued annual leave... 2,262 6, ,010 Other... Debt issued under borrowing authority: Borrowings from Treasury... Agency securities outstanding... Other... Other liabilities... liabilities , , ,574 GOVERNMENT EQUITY Unexpended budget authority: Unobligated... 1,342 1,795 11, ,680 64,311 Undelivered orders... Unfinanced budget authority (): 28,094 90, , Unfilled customer orders Contract authority ,000 Borrowing authority... Invested capital , Other equity: Receipt account equity ,597 Unappropriated receipts ()... Foreign currency fund equity... Government equity ^ tj ,7?? liabilities and Government equity.. 1,442 33, , , ,350 Footnotes at end of section. (PE)

164 156 Treasury Bulletin.FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I Financial Statements of Government Agencies and Funds Table GAI1. Statements of Financial Condition, September 30, 1977 Continued Account 12/ (In thousands of dollars) Agriculture Department Continued Commodity Credit Corporation Memo: Funds transferred from others Funds transferred to others Farmers Home Administration Revolving funds Agricultural credit insurance fund (PE) Rural development insurance fund (PE) Rural housing insurance fund (PE) ASSETS Selected current assets: Fund balances with Treasury: Budget funds... 36, ,559 21,222 1,462, ,094 21,6 150,152 Budget clearing accounts... 1,600 2,615 Foreign currency funds... Allowances, foreign currency funds (). 29,215 Accounts receivable: Government agencies... The public... 85,547 20,451 28,805 20,594 Allowances ()... 2, ,9 * 431, ,825 76, ,748 5,365 46,350 45, Advances to: Government agencies The public ,063 93, ,663 selected current assets , ,622 42,4 1,885, ,612 98, ,417 Loans receivable: Repayable in dollars... 9,845,337 2,368,547 1,001,252 14/ 296,038 1,051,307 Repayable in foreign currencies.... Allowances ()... 7, ,069 93,851 5,083 60,552 Inventories: Items for sale ,856 Workinprocess... Raw materials and inventories... Stockpile materials and commodities... Allowances () ,598 Real property and equipment: Land... 2 * * Structures and facilities... Equipment... 1, ,673 Leasehold improvements... Acquired security, pending disposition. 147,213 12, ,366 Allowances ()... 1, ,727 Other assets: Workinprocess, contractors... Materials and supplies other Other ,599 59,016 2, ,396 Allowances ()... 3,168 2, assets... A. W R. T O ,553 4,176,036 1,702, ,987 1,339,876 liabilities Selected current liabilities: Accounts payable: Government agencies , ,400 17,306 7,369 9,311 The public , , , , ,690 Advances from: Government agencies... The public... 54,068 54, , ,283 48, ,708 selected current liabilities ,677 54,068 1,016 1,486, , , ,709 Deposit fund liabilities... 2,615 Unfunded liabilities: Accrued annual leave ,906 Other... Debt issued under borrowing authority: Borrowings from Treasury... 6,128,457 1,921, , , ,718 Agency securities outstanding , , ,074 Other , ,121 83,159 Other liabilities... 5,413, , ,128 a, ,519 liabilities... 12,126,216 54,068 1,628 4,190,672 1,345, ,658 2,215,862 GOVERNMENT EQUITY Unexpended budget authority: Unobligated... 5,547,727 62,922 20, , ,851 Undelivered orders... 2,617, ,632 20,824 3,573, ,803 1,572,680 1,151,836 Unfinanced budget authority (): Unfilled customer orders... Contract authority... Borrowing authority... 8,371,543 3,413,763 2,950 1,631,686 1,779,128 Invested capital , ,709 26, , ,693 Other equity: Receipt account equity... 1,600 Unappropriated receipts ()... Foreign currency fund equity... Government equity..... =9 279,554 * 40,925 14, , , ,986 liabilities and Government equity.. 11,192, ,622 42,553 4,176,036 1,702, ,987 1,339,876 Footnotes at end of section.

165 March 1978.FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I Financial Statements of Government Agencies and Funds Table GAI1. Statements of Financial Condition, September 30, 1977 Continued 157 (In thousands of dollars) ^Agriculture Department Continued Farmers Home Administration Continued Soil Conservation Service Revolving Memo: Memo: funds Continued Funds transferred from others Account Food and Selfhelp All Revolving fund Nutrition Funds Service housing land other Community Other transferred development Services from others fund (PE) Adminis tration (PE) ASSETS Selected current assets: Fund balances with Treasury: Budget funds... 1, ,290 46,336 58, ,667 4,6 '1,088,6(?9 Budget clearing accounts... 1,600 1,140 1,728 Deposit funds... 2, ,981 Foreign currency funds Allowances,foreign currency funds () Federal security holdings (at par)... Accounts receivable: Government agencies... 5,776 * 9,707 7 The public ,062 1,856 4, ,354 Allowances ()... 1,129 1,115 Advances to: Government agencies.... 3,947 14,087 The public... 3,663 2, ,748 selected current assets... 1, ,877 47,077 58, ,220 4,701 1,814,567 Loans receivable: Repayable in dollars ,395 16,729 1,241 Repayable in foreign currencies... Allowances () ,576 7,554 Inventories: Items for sale... Workinprocess.... Raw materials and inventories Stockpile materials and commodities... Allowances ()... Real property and equipment: 456 Structures and facilities... 2,297 Equipment... 5,673 55,540 1,549 Leasehold improvements Acquired security, pending disposition Allowances ()... 1,727 24, Other assets: Workinprocess, contractors.... Materials and supplies other Other Allowances () assets... 2, ,346 56,408 59, ,411 4,701 1,815,600 LIABILITIES Selected current liabilities: Accounts payable: Government agencies... 10, , ,342 The public... 16,097 44, ,754 Advances from: Government agencies... The public... I 33 I I I I selected current liabilities... 26, , ,096 Deposit fund liabilities... 2, ,981 Unfunded liabilities: 11,906 24,719 3,026 Accrued annual leave... Other... Debt issued under borrowing authority: Other... Other liabilities... Borrowings from Treasury... Agency securities outstanding... ~ liabilities , ,ror Unexpended budget authority: Unobligated ,883 47,057 6,705 56,205 1, ,243 Undelivered orders ,690 51, ,164 2,818, 738,519 Unfinanced budget authority (): Unfilled customer orders... 3,219 Contract authority... Borrowing authority... Invested capital ,108 9,331 1,241 11,005 1,993 Other equity: Receipt account equity... 1,600 1,140 1,728 Unappropriated receipts ()... Foreign currency fund equity... Government equity... 2, ,281 56*^88 59, ,294 4,442 1,342,497 liabilities and Government equity.. 2, ,346 56,408 59, ,411 4,701 1,815,600 Footnotes at end of section. w OI

166 158 Treasury Bulletin Account.FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I Financial Statements of Government Agencies and Funds Table GAI1. Statements of Financial Condition; September 30, 1977 Continued (In thousands of dollars) Agriculture Department Continued Revolving fund Milk market orders fund (TR) Agricultural Marketing Service Trust funds and clearing accounts All other Memo: Funds transferred from others Revolving fund Commodity Credit Corporation (PE' Food Safety and Quality Service Forest Service ASSETS Selected current assets: Fund balances with Treasury: Budget funds ,033 17, , , ,212 Budget clearing accounts... 2,583 2,583 1,861 Deposit funds ,707 Foreign currency funds... Allowances,foreign currency funds (). Federal security holdings (at par)... 2,375 2,375 Accounts receivable: Government agencies... 1, ,749 10,468 The public... 6, , * 3, ,122 Allowances () Advances to: Government agencies... 40,333 1,061 39, ,587 The public... 8, ,096 16,251 selected current assets ,704 20,734 8, , , ,208 Loans receivable: Repayable in dollars Repayable in foreign currencies.... Allowances ()... Inventories: Items for sale... 10, Raw materials and inventories... 10,896 Stockpile materials and commodities... Allowances () Real properly and equipment: 496,194 3,571,502 Equipment , , ,7 271,707 Leasehold improvements... 10,361 Acquired security, pending disposition. Allowances ()... 2, , ,138 48,574 Other assets: Workinprocess, contractors... Materials and supplies other... Other ,042 Allowances ().... Land... Structures and facilities assets ,214 20,889 8, , ,982 5,294,561 LIABILITIES Selected current liabilities: Accounts payable: Government agencies ,1 37,237 The public... 28, , , ,496 Advances from: Government agencies... 1,072 1,072 1 The public... 1,339 1,339 3 selected current liabilities... 31,230 ' 2,602 28, , ,736 Deposit fund liabilities ,707 Unfunded liabilities: Accrued annual leave... 2, , ,416 44,767 Other ,397 Debt issued under borrowing authority: Borrowings from Treasury... Agency securities outstanding... «Other... Other liabilities ,255 liabilities... 33,829 2,757 31, , ,863 Unexpended budget authority: Unobligated ,616 18, , , ,605 Undelivered orders... 27,348 1, ,7 24 3, ,461 Unfinanced budget authority (): Unfilled customer orders Contract authority... 78,781 Borrowing authority.... Invested capital... 1, , ,763 4,162,722 Other equity: Receipt account equity... 2,583 2, ,544 Unappropriated receipts () ,576 Foreign currency fund equity... Government equity ,386 20,889 5, , ,186 4,926,698 liabilities and Government equity.. 324,214 20,889 8, , ,982 5,294,561 Footnotes at end of section.

167 March FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I Financial Statements of Government Agencies and Funds Table GAI1. Statements of Financial Condition; September 30, 1977 Continued Account (In thousands of dollars) Agriculture Department Continued Forest Service Continued Other Revolving fund Memo: Revolving funds Working capital fund (IR) Trust and deposit funds All other Funds transferred from others Funds transferred to others Working capital fund (IR) ASSETS Selected current assets: Fund balances with Treasury: Budget funds... 20, , , ,592 32,138 38,649 3,639 Budget clearing accounts... 1,861 7,078 Deposit funds... 38,707 1,768 Foreign currency funds... Allowances,foreign currency funds(). Federal security holdings (at par)... Accounts receivable: Government agencies... 4, , ,420 14,289 The public ,042 4, , Allowances ()... Advances to: Government agencies... 62,000 8, The public... * selected current assets... 24, , , ,145 32,244 93,9 18,005 Loans receivable: Repayable in dollars... Repayable in foreign currencies... Allowances ()... Inventories: Items for sale... 10,142 Workinprocess Raw materials and inventories... 1,225 9,672 Stockpile materials and commodities... Allowances ()... Real property and equipment: Land ,194 Structures and facilities... 10,123 3,561,379 7,245 Equipment , ,660 27,558 14,815 Leasehold improvements... 10, Acquired security, pending disposition. Allowances ()... 48,574 11,440 11,036 Other assets: Workinprocess, contractors... Materials and supplies other Other... 13,329 7,713 Allowances ()... assets ,184 4,858, ,145 32, ,856 22,086 LIABILITIES Selected current liabilities: Accounts payable: Government agencies... 1,266 1,216 34, ,842 2,325 The public... Advances from: 3,759 2, ,783 5, ,871 4,690 Government agencies ,532 8,063 The public selected current liabilities... 5,028 4, ,539 6, ,289 15,093 Deposit fund liabilities... 38,707 1,768 Unfunded liabilities: Accrued annual leave... 44, ,422 1,879 Other... 1,397 Debt issued under borrowing authority: Borrowings from Treasury... Agency securities outstanding... Other... Other liabilities ,255 liabilities... 5, , ,703 6, ,479 16,972 Unexpended budget authority: Unobligated... 7, , , ,923 7,986 14,029 3,209 Undelivered orders... 12,933 9, ,144 19,944 23,1 21, Unfinanced budget authority (): Unfilled customer orders ,285 Contract authority... 78,781 Borrowing authority... Invested capital... 77, ,926 4,208, ,072 2,202 Other equity: Receipt account equity... Unappropriated receipts () ,544 7, ,576 Foreign currency fund equity... Government equity ,867 31,865 56,377 5,114 liabilities and Government equity.. 101, ,184 4,858, ,145 32, ,856 22,086 Footnotes at end of section. H 1

168 160 Treasury Bulletin.FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I Financial Statements of Government Agencies and Funds Table GAI1. Statements of Financial Condition; September 30, 1977 Continued (In thousands of dollars) Agriculture Department Continued Other Continued Revolving funds Con. * 4. General Inspection and and trust Weighing funds 15/ Service (PE) Memo: Funds transferred from others Commerce Department General administration ana related bureaus Revolving fund Working capital fund (IR) General administration ASSETS Selected current assets: Fund balances with Treasury: Budget funds... 9,186 25, ,834,587 23, ,266 Budget clearing accounts... 7, Deposit funds... 1,768 7,338 3, * Foreign currency funds... Allowances, foreign currency funds (). Federal security holdings (at par)... Accounts receivable: 138, Government agencies ,109 75,253 7,017 2,882 3,523 The public... 2,606 6,559 10,077 3 Allowances ( ) Advances to: Government agencies , The public , selected current assets... 11,816 64, ,0,794 36,031 4,018 9,347 Loans receivable: Repayable in dollars ,986 Repayable in foreign currencies... ~ Allowances ()... 38,784 " Inventories: Items for sale... 9,830 5,688 Raw materials and inventories... 12, Stockpile materials and commodities Allowances ( )... 1,885 Real property and equipment: Land... 13,988 2,600 Structures and facilities... 7, ,902 1,370 Equipment ,665 1,846,370 12,334 2, Leasehold improvements Acquired security, pending disposition. Allowances ( ) ,576,559 7,484 1, Other assets: Workinprocess, contractors... 37,319 Materials and supplies other ,695 Other... 1,327 Allowances () assets... 11,890 83, ,204, , IsIABJLITIES Selected current liabilities: Accounts payable: Government agencies , ,293 5, ,589 The public , ,819 10,760 2, H 4 3,407 Advances from: Government agencies... 3,469 34,564 The public ,969 selected current liabilities , ,645 15,9 3,095 6,996 Deposit fund lia b ilitie s... 1,768 7,338 3, * Unfunded liabilities: Accrued annual leave ,824 49,446 5, Other... Debt issued under borrowing authority: 27,977 Borrowings from Treasury... Agency securities outstanding... Other... Other liabilities... 0 liabilities... 1,584 42, ,315 24,358 3,855 6,997 Unexpended budget authority: Unobligated... 6,245 4,576 Undelivered orders... 2,078 18, ,993 6,921,420 9,257 10,586 2, ,431 2,242 Unfinanced budget authority ( ) : Unfilled customer orders... 58,7 3,204 1,879 1,325 Contract authority... 41,409 Borrowing authority... Invested capital... 1,984 10,886 1,043,376 4,248 1, Other equity: Receipt account equity... 7, Unappropriated receipts ( )... Foreign currency fund equity... " Government equity , ,657,958 20,907 1,627 2,803 liabilities and Government equity.. Footnotes at end of section. 11,890 83, ,204,273 45,266 5,482 9,800

169 March Account ASSETS Selected current assets: Fund balances with Treasury:.FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I Financial Statements of Government Agencies and Funds Table GAI1. Statements of Financial Condition, September 30, 1977 Continued General administration and related bureaus Con. Related bureaus 16/ Memo: (In thousands of dollars) Commerce Department Continued Funds transferred to others Economic Development Assistance Economic Development Admin. Bureau Bureau of Revolving fund of the Economic Census Analysis Economic development revolving fund (PE) 18,127 1,351 45, V} 6,587, ,531, ,701 <5 2, Foreign currency funds... " Allowances,foreign currency funds(). Federal security holdings (at par)... Accounts receivable: : Government agencies The public , ,713 I/O 13, ,631 3 Advances to: The public , od selected current assets... 22,666 Loans receivable: 1,351 54,187 2,498 6,601,125 6,545, , , , ,955 Repayable in foreign currencies... 27,601 Inventories: 23,604 Items for sale... 4,646 " Raw materials and inventories... Stockpile materials and commodities... Allowances ()... Real property and equipment: Land Structures and facilities ^370 Equipment ,090 Leasehold improvements... ** 1,334 1,051 Acquired security, pending disposition. Allowances ()... 5,325 21,081 Other assets: Workinprocess, contractors Materials and supplies other... Other... 1,094 Allowances ()... I I I I assets... 29,984 1,678 2,498 7, LIABILITIES Selected current liabilities: Accounts payable: Government agencies , ,727 25,696 25,518 The public , Advances from: 59,157 57,149 1 Government agencies... The public selected current liabilities... 5, ,211 1,420 84,884 82,845 25,708 Deposit fund liabilities... Unfunded liabilities: Accrued annual leave... Other... 4,907 5,804 1,340 1,340 Debt issued under borrowing authority: Borrowings from Treasury... Agency securities outstanding... Other... Other liabilities... 2, liabilities ,224 84,185 25,708 GOVERNMENT EQUITY Unexpended budget authority , , O j J j ( O y 01.1 jofcj./ *5 Unfinanced budget authority (): Unfilled customer orders... 1 Contract authority... Borrowing authority... I ~ Unobligated... Undelivered orders... 5,681 8, , ,627 Invested capital... 2, , , , ,632 Other equity: Receipt account equity... 1 Unappropriated receipts ()... 5 Foreign currency frond equity... : I I I I Government equity f526 1,078 7,012,309 JS,958, ,259 liabilities and Government equity.. 29,984 1,678 89,936 2,498 7,098,533 7,042, Footnotes at end of section.

170 162 Treasury Bulletin Account ASSETS Selected current assets: Fund balances with Treasury:.FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I Financial Statements of Government Agencies and Funds Table GAI1. Statements of Financial Condition; September 30, 1977 Continued (In thousands of dollars) Commerce Department Continued Economic Development A 'sistanee Continued Economic Development Administration Continued Memo: Regional Action Planning Commissions All Funds Funds Memoother transferred transferred from others to others Funds transferred to others Domestic and International Business Administration Office of Minority Business Enterprise 6,320,018 26,616 39,542 55,468 22,315 9,377 36,686 Budget clearing accounts... Foreign currency funds... Allowances,foreign currency funds(). Federal security holdings (at par)... Accounts receivable: Government agencies ,118 10,314 The public , Allowances ()... Advances to: Government agencies... 7, ,101 The public... 1, selected current assets... 6,320,162 26,616 67,779 55,629 22,543 19,901 37,787 Loans receivable: Repayable in dollars... 20,906 Repayable in foreign currencies... Allowances ()... 3,997 Inventories: Items for sale... Raw materials and inventories... Stockpile materials and commodities... Allowances ()... Real property and equipment: Land... Structures and facilities... Equipment... 1, ,468 Leasehold improvements Acquired security, pending disposition. Allowances () ,258 Other assets: Workinprocess, contractors... Materials and supplies other... Other... Allowances ()... assets... 6,337,655 26,616 67,779 55,2 22,543 22, LIABILITIES Selected current liabilities: Accounts payable: Government agencies ,829 1,952 The public ,959 2,297 2,008 1,957 3,390 Advances from: Government agencies... The public... selected current liabilities... 57,137 2,297 2,039 1,957 13,219 1,952 Deposit fund liabilities... Unfunded liabilities: Accrued annual leave... 1,340 3,602 Other... Debt issued under borrowing authority: Borrowings from Treasury... Agency securities outstanding.... Other... Other liabilities... I liabilities , ,821 1,952 GOVERNMENT EQUITY Unexpended budget authority: Unobligated... 21,180 3,427 8,898 3, Undelivered orders... 6,241,845 23,189 65,482 44,692 3,165 31J337 Unfinanced budget authority (): Unfilled customer orders... Contract authority... Borrowing authority... Invested capital... 16, ,051 Other equity: Receipt account equity... Unappropriated receipts ()... Foreign currency fund equity... I I Government equity... 6,279,178 26r616,6S»AB2 51r873 2Qf587 6,030 35,835 liabilities and Government equity.. 6,337,655 26,616 67,779 55,2 22,543 22,851 37,787 Footnotes at end of section.

171 March FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I Financial Statements of Government Agencies and Funds Table GAI1. Statements of Financial Condition; September 30, 1977 Continued (In thousands of dollars) Commerce Department Continued National Oceanic and Atmospheric Administration Revolving funds Memo: Account Fisheries loan fund (PE) Fishermen s guarantee fund (PE) Coastal energy impact fund (PE) Federal ship financing fund, fishing vessels (PE) All other Funds transferred to others ASSETS Selected current assets: Fund balances with Treasury: Budget funds... 3,755 5, , , Budget clearing accounts Deposit funds... 1,751 1,751 Foreign currency funds... Allowances,foreign currency funds () Federal security holdings (at par)... 1,435 1,435 Accounts receivable: Government agencies... 15, ,829 The public... 2, ,932 Allowances ()... Advances to: Government agencies The public / selected current assets ,922 5, ,000 1, ,9 622 Loans receivable: Repayable in dollars... 1,846 1, Repayable in foreign currencies... Allowances () Inventories: Items for sale... 2,053 2,053 Work inpproc ess Raw materials and inventories... 7,4 7,4 Stockpile materials and commodities... Allowances ()... Real property and equipment: Land... 4,289 4,289 Structures and facilities... 56,567 56,567 Equipment , ,368 Leasehold improvements... Acquired security, pending disposition. Allowances () ,376 * 165,376 Other assets: Workinprocess, contractors... 33,363 33,363 1,108 Materials and suppliesother... Other Allowances () ' assets ,695 7, ,000 1, ,236 1,730 LIABILITIES Selected current liabilities: Accounts payable: Government agencies... 38,668 * 1 38,666 * The public... 88, ,742 Advances from: Government agencies... 7,099 7,099 The public... selected current liabilities , ,508 * Deposit fund liabilities... 1,751 1,751 Unfunded liabilities: Accrued annual leave... 24,020 24,020 Other... 27,977 27,977 Debt issued under borrowing authority: Borrowings from Treasury... Agency securities outstanding... Other... Other liabilities liabilities , ,790 * Unexpended budget authority: Unobligated ,177 5, ,640 1,409 32, Undelivered orders , , Unfinanced budget authority (): Unfilled customer orders... 23,258 23,258 Contract authority... Borrowing authority... Invested capital , ,785 1,107 Other equity: Receipt account equity... Unappropriated receipts ()... I I 322 I CM I CM C'N Foreign currency fund equity..... Government equity ,820 7, ,992 1, ,44^ liabilities and Government equity.. 673,695 7, ,000 1, ,236 1,730 Footnotes at end of section.

172 164 Treasury Bulletin.FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FU N D S Section I Financial Statements of Government Agencies and Funds Table GAI1. Statements of Financial Condition, September 30, 1977 Continued (In thousands of dollars) Commerce Department Continued Science and Technical Research Maritime Administration Revolving fund Memo: Revolving funds Working capital fund (IR) All other Funds transferred to others Federal ship financing fund (PE) Vessel operations revolving fund (pe) Selected current assets: Fjr.d balances with Treasury: B'odget funds... Budget clearing accounts... deposit funds... Foreign currency funds... Allowances, foreign currency funds (), Federal security holdings (at p a r )... ^counts receivable: Government agencies... 7r.e public... Cloiranees ( )... Advances to: Government agencies... The public... selected current assets... loans receivable: re?ayable in dollars... Repayable in foreign currencies... Clearances ( )... Irrertories: Items for sale... Hcrjc inprocess...?air materials and inventories... Stockpile materials and commodities... Clearances ( )... Leal property and equipment: Itsd... Structures and facilities... E^zpment.... Lessen old improvements... Ac.q.J.red security, pending disposition, Allowances ( )... Dt^er assets: Wor* inprocess, contractors... wfcterials and supplies other... Dtaer.... Allowances ( ) , assets... LIABILITIES Selected current liabilities: Accosts payable: Government agencies... TSie public... Advances from: Government agencies... Ti*e public... Tot^l selected current lia b ilitie s... Ztepoez fund liab ilitie s... jri'uncec liabilities: Ac.crj.ea annual leave... Ct^ier Devx issued under borrowing authority: borrowings from Treasury... Agency securities outstanding... Z'XZiGT Iroer liab ilities... Tcrwl liab ilities... GOVERNMENT EQUITY buerjpeuiea budget authority: V:o:ligated... l>ricel:vered orders... budget authority ( ) : tiled customer orders... Vjr'rtct authority... borrowing authority... Xnvttgi^»c capital... Osner equity: Keceipx account equity... ^^appropriated receipts ( )... Foreigr. currency fund equity... Government equity... Tot*l liabilities and Government equity.. Foorauotes at end of section. 53, ,321 1,729 21,445 31,5 15,951 1, , , ,070 15, , ,969 1,370 " 3,362 4, ,909 2, ,063 45% ,158 40,157 33, , ,120 17,060 7,778 1, ,885 55,278 14,821 10,757 10,757 7,778 1, , ,809 6, , ,836 4,569 5,898 37,129 1,386, " 59,631 59,631 1,320,263 1,068 3,955 2,979 2, , ,054 33,001 1, , ,185 17,060 16,789 10,824 1,935 10,824 14, ,312 1, ,559 22, * 4,905 21,828 21,828 50,196 35,342 14,854 * 128,180 22, ,930 1,070 6,968 6,968 2, ,204 42,310 14,894 * 133,051 24, ,576 39,675 4,515 23,765 3,061 15,0 32,329 31, * 369, ,393 41, ,060 16, , ,928 1, ,558 4,065 : : , ,744 18,107 1, , ,125 16, , ,054 33,001 1, , ,185 17,060

173 March FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS < Section I Financial Statements of Government Agencies and Funds Table GAI1. Statements of Financial Condition, September 30, 1977 Continued (In thousands of dollars) Commerce Department Con. Maritime Administration Con. Revolving funds Con. Warrisk insurance revolving fund (PE) other Defense Department Military Air Force Department Revolving funds Defense production guarantees (PE) Stock fund (IR) Industrial fund (IR) 22/ ASSETS Selected current assets: Fund balances with Treasury: Foreign currency funds... Allowances,foreign currency funds(). Federal security holdings (at par)... Accounts receivable: 7, The public , ,255 67,264, , ,737 66} 2,593 3,458, ,243 9,046 lx>fj7(,?xx 1,790 IbtyC , ,094 71, , , ,672 19, ,326 5,260 Advances to: Government agencies ,803 TT JLLjUOjC ACfrO The public I selected current assets... 7, ,592 72,400,257 17,568,655 1, , ,264 Loans receivable: Repayable in dollars ,457 2,589 Repayable in foreign currencies... Allowances ().... Inventories: Items for sale... 12,423,693 2,695,870 2,695, ,197 54,127 Raw materials and inventories... 4,569 54, ,453 84,741 84,741 Stockpile materials and commodities... 13,310,141 Allowances () Real property and equipment: 5,898 1,840, ,564 Structures and facilities... 37, ,266,852 17,406,326 Equipment... 1,386,943 W 78,1,685 50,382,498 Leasehold improvements Acquired security, pending disposition. Allowances ()... 1,320,263 19/ 1,104,177 Other assets: Workinprocess, contractors... 3,955 11,135,008 3,921,034 1,032 Materials and supplies other ,227,851 15,178,290 Other... * 36,871, ,487 62,579 99,908 Allowances () assets... 7 I,4XX /n Oz.7,770 a?q qqa 347,137, ,618, ,072 LIABILITIES Selected current liabilities: Accounts payable: Government agencies AQO y n JJL4 J 43, ,561 3,411,629 The public ,432 8,684,340 2,704, Advances from: Government agencies... 4, ,978 1,981 The public ,933 selected current liabilities ,472 12,577,880 3,198, , ,825 Deposit fund liabilities ,105 *1) (t*906} 0*1 Unfunded liabilities: Accrued annual leave... 2,567 3,151,818 1,013,326 33,X4? 1Z.3 Other ,523 84,356 Debt issued under borrowing authority: Borrowings from Treasury... Agency securities outstanding... " 1,015, ,161 Other... Other liabilities... " J (J loo,oo± 298, , liabilities ,273 17,446,177 4,560, , ,599 2QSINMENT.EQUITY Unexpended budget authority: Unobligated ,794,399 5,403, ,113 Undelivered orders... VI/ 61,977,849 12,924, , ,512 Unfinanced budget authority ( ) : Unfilled customer orders... 1f JL\J,0(6, i & }, VJJLO OJ ( 173, ,487 Contract authority... 41, ,148 Borrowing authority... U ' 2 8 ; S 8 Invested capital... 1<5 fi / Q / 269,772,797 00^^^ j ti+j p 7/3 J/30 113,334 Other equity: Receipt account equity... Unappropriated receipts () ,650 76,159 Foreign currency fund equity... I Government equity... 7,3 721, ,690, ,058,589 1,790 2,770,701 38,472 liabilities and Government equity.. 7, , ,137, ,618,592 1,790 3,132, ,072

174 166 Treasury Bulletin.FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I Financial Statements of Government Agencies and Funds Table GAI1. Statements of Financial Condition, September 30, 1977 Continued Revolving funds Con. Cadet fund (TR) (l..fehpusands,of dollars.) Defense Department Continued Military Continued Air Force Department Continued Surcharge collections, sales of commissary stores (TR) All other Funds transferred from others Funds transferred to others Army Department Revolving funds Defense production guarantees (EE) Selected current assets: Fund balances with Treasury: Budget funds... Budget clearing accounts... Deposit funds... Foreign currency funds... Allowances,foreign currency funds(), Federal security holdings (at p a r )... Accounts receivable: Government agencies... The public... Allowances ( )... Advances to: Government agencies... The public... selected current assets... Loans receivable: Repayable in dollars... Repayable in foreign currencies... Allowances ( ).... Inventories: Items for sale...i..., Work inprocess... Raw materials and inventories... Stockpile materials and commodities... Allowances ( )... Real property and equipment: Land... Structures and facilities... Equipment... Leasehold improvements... Acquired security, pending disposition, Allowances ( ) Other assets: Workinprocess, contractors... Materials and supplies other... Other... Allowances ( )... assets... LIABILITIES ,090 1,090 62, ,080 63,080 16,042,739 74,264 74,623 a 597,046 45,394 11,081 23,689 16,868, ,564 17,406,326 50,382,498 3,920,002 15,178, ,920, , , ,370 7,799 7,799 7,799 12,385, ,764 32, , , ,655 38,219 14,044,227 3,087,382 2, , ,398 13,903,080 5,142,374 11,905 36,461,076 72, ,209 2, ,213 Selected current liabilities: Accounts payable: Government agencies... The public... Advances from: Government agencies... The public ,175 1(W 1,981 15,675 30, ,744 2,737, , selected current lia b ilitie s... Deposit fund liab ilitie s... Unfunded liabilities: Accrued annual leave... Other... Debt issued under borrowing authority: Borrowings from Treasury... Agency securities outstanding... Other... Other lia b ilitie s... lia b ilitie s... 1,067 1,067 1,679 1,679 2,107, , ,184 84, ,161 3,734,325 46, , , ,704,004 51,507 1,758,936 48, ,674 25,621 5,888,314 Unexpended budget authority: Unobligated.... Undelivered orders... Unfinanced budget authority (): Unfilled customer orders... Contract authority... Borrowing authority... Invested capital.... Other equity: Receipt account equity... Unappropriated receipts ( )... Foreign currency fund Equity... Government equity... liabilities and Government equity, Footnotes at end of section ,090 51,574 9,828 61,401 63,080 5,021,530 11,823,683 2,234,154 85,498,981 76, ,186, ,920,526 57, , , , ,370 2,763 4,694 7,459 7,799 3,241,011 10,974,865 3,544, ,282 56,287, , ,042,712 72,931,026 2,209 2,213 2,213

175 March FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I Financial Statements of Government Agencies and Funds Table GAI1. Statements of Financial Condition, September 30, 1977 Continued (In thousands of dollars) Defense Department Continued Military Continued Army Department Continued Account Revolving funds Continued Memo: ASSETS Stock fund (IR) Industrial fund (IR) 12/ Surcharge collections, sales of commissary stores (TR) All other Funds transferred from others Funds transferred to others Navy Dept. Selected current assets: Fund balances with Treasury: Budget funds , ,565 60,498 11,708, ,232 6,383 30,993,642 Budget clearing accounts , , Allowances,foreign currency funds(.). Federal security holdings ( at par)... Accounts receivable: , , , The public... 61,962 2,303 2, , Allowances ( ) Advances to: Government agencies... 4,600 The public... 20,055 38, ,478 1,090, ,882 selected current assets , ,536 62,982 12,949, ,779 6,383 32,422,012 Loans receivable: Repayable in dollarg ,584 Repayable in foreign currencies... Allowances ( ) Inventories: Items for sale ,087,382 2,314,627 2, ,773 Raw materials and inventories... 79, ,283 Stockpile materials and commodities... Allowances ( )... Real properly and equipment: Land ,398 Structures and facilities... 13,903,080 Equipment... 5,142,374 Leasehold improvements... Acquired security, pending disposition. Allowances ( )... Other assets: Workinprocess, contractors... 10,613 1,292 29,196 59,317 13,227, ,729 55,625,237 22,497,594 Materials and supplies other... Other... 80,243 1,108 36,379,72520/ Allowances ( )... assets ,946, ,516 62,982 68,574, ,779 AOjJOJ 127,138,056 U A K U r a Selected current liabilities: Accounts payable: Government agencies ,284 27, ,998 51,093 1,134,483 The public , ,271 6,890 2,384,643 80, ,251,846 Advances from: Government agencies ,295 33,509 The public ,689 selected current liabilities , ,205 6,937 3,175, , ,426,527 Deposit fund lia b ilitie s... 51, ,390 Unfunded liabilities: Accrued annual leave... 49,847 Other... Debt issued under borrowing authority: Borrowings from Treasury Agency securities outstanding... 1,709,089 48, , , ,907 29^, , ,792 Other... Other lia b ilitie s... 25, ,281 liab ilitie s , ,639 6,937 5,284, , ,543,233 GOVERNMENT EQUITY Unexpended budget authority: Unobligated... 33,506 3,205,297 65,468 3,344 10,553,810 Undelivered orders... 1,208,360 22,539 9,743, ,172 2*434 22,064,354 Unfinanced budget authority (): Unfilled customer orders... 2,1, ,755,332 Contract authority tll M 511,764 Borrowing authority... Invested capital... 3,157, ,8774/ 53,015, ,674 * 94,236,600 Other equity: Receipt account equity ,626 6,974 Unappropriated receipts ( )... Foreign currency fund equity Government equity... 3,581, ,877 56,045 63,289, ,958 5, ,594,823 liabilities and Government equity.. 3,946, ,516 62,982 68,574, ,779 6, ,138,056 Footnotes at end of section.

176 168.FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I Financial Statements of Government Agencies and Funds Table GAI1. Statements of Financial Condition, September 30, 1977 Continued Treasury Bulletin Account Defense production guarantees (PE (In thousands of dollars) Defense Department Continued Military Continued Navy Department Continued Revolving funds Laundry Surcharge Marine Corps service, Industrial Stock collections, Naval fund (IR) fund (IR) sales of Stock Industrial Academy (PE) commissary fund (IR) fund (IR) stores (TR) Surcharge collections> sales of commissary, stores (TR) ASSETS Selected current assets: Fund balances with Treasury: Budget funds , ,261 92,841 21,663 4?,008 2,102 4,259 Foreign currency funds Allowances,foreign currency funds(). Federal security holdings (at par)... Accounts receivable: ,999 6,008 4,353 1,767 The public ,144 42, Allowances ( ) Advances to: The public... selected current assets... 3, , ,148 21,663 47,034 3,872 4,259 Loans receivable:.. Repayable in dollars... 2,584 Allowances ( ).... Inventories: Items for sale... 2,085, , ,770 3 Raw materials and inventories ,027 3,254 Stockpile materials and commodities... ~ Allowances ( )... Real property and equipment:» Land... Structures and facilities... Equipment... Leasehold improvements... Acquired security, pending disposition. ~ Allowances ( )... Other assets: Work inprocess, contractors... Materials and supplies other... Other ,932 10,881 1,674 3 Allowances ( )... assets... 6, ,318,134 2,237,032 21, ,749 7,131 4,259 LIABILITIES Selected current liabilities: Accounts payable: Government agencies ,879 8, , The public ,968 12, , Advances from: Government agencies ,707 The p ublic... 6,689 selected current liabilities ,339 37,874 1,335 4,372 1,008 Deposit fund liab ilities... Unfunded liabilities: Accrued annual leave ,421 5 Other ,907 Debt issued under borrowing authority: Borrowings from Treasury... Agency securities outstanding... Other... Other liab ilities , liab ilities ,369 37,874 1,335 4,867 1,008 Unexpended budget authority: Unobligated , ,099,886 21,663 5,776 3,252 Undelivered orders ,073, ,980 58,062 2,892 Unfinanced budget authority (): Unfilled customer orders... 2,297, ,345 4,381 9,504 Contract authority ,361 7,982 Borrowing authority... Invested capital... 2, ,657 2,095, ,715 3,100 Other equity: Receipt account equity... Unappropriated receipts ( )... Foreign currency fund equity... Government equity... 6, ,765 2,199,158 21, ,414 2,265 3,252 liabilities and Government equity.. 6, ,318,134 2,237,032 21, ,749 7,131 4,259 Footnotes at end of section.

177 March Account.FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I Financial Statements of Government Agencies and Funds Table GAI1. Statements of Financial Condition, September 30, 1977 Continued (In thousands of dollars) Defense Department Continued Military Continued Navy Department Continued Defense Agencies Revolving Memo: Revolving funds funds Con. U.S. Naval All Funds Funds Academy other transferred transferred Home owners assistance Midshipmen s store (TR) from others to others fund (PE) Stock fund (IR) ASSETS Selected currant assets: Fund balances with Treasury: Budget funds ,511, ,718 23,200 6,376,503 9, ,821 Budget clearing accounts... 6,974 1, ,390 6 Foreign currency funds Allowances,foreign currency funds(). Federal security holdings (at par)... 2,478 Accounts receivable: Government agencies , , ,822 The public ,365 1, ,830 3,354 Allowances ( )... Advances to: Government agencies... 29,196 38,1 The public ,283 23, selected current assets ,5, ,766 23,200 7,131,361 8,999 1,949 Loans receivable: Repayable in dollars... Repayable in foreign currencies... Allowances ( )... Inventories: Items for sale... 1,582 4,299,187 4,288,701 87,820 Raw materials and inventories ,721 Stockpile materials and commodities... 13,227,168 82,973 Allowances ().'... Real properly and equipment: Land ,663 Structures and facilities ,624,659 Equipment ,497, ,598 Leasehold improvements... Acquired security, pending disposition. Allowances ( ) Other assets: Workinprocess, contractors Materials and suppliesother... 1 Other... 3,371 Allowances ( )... assets a,ass ,263, lit INABILITIES 5,200,450 Selected current liabilities: Accounts payable: Government agencies ,043,808 2,877 1,004,394 1,3 39,512 The public ,117,441 77,327 1, ,942 1, ,415 Advances from: Government agencies... 15,000 4,600 4,600 The public selected current liabilities ,176,249 80,204 1,964 1,645, ,527 Deposit fund lia b ilitie s ,390 Unfunded liabilities: 6 Accrued annual leave ,157 Other Debt issued under borrowing authority: Borrowings from Treasury... Agency securities outstanding... Other , ,792 2,086 2,086 Other lia b ilitie s... li a b i li t i e s... &5J& 3,512, ,995 1,962 1,763,709 2, ,527 GOVERNMENT EQUITY Unexpended budget authority: Unobligated... 1,941 9,417, ,704 11, ,681 12,140 Undelivered orders ,144, ,342 9,697 15,519, ,628,345 Unfinanced budget authority (): Unfilled custoner orders... 1,584 1,264, , ,754 Contract authority ,4, ,169 Borrowing authority... 3,818 3,818 Invested capital... 2,211,446, , ,617,874 2,086 4,288,701 Other equity: Receipt account equity... 6,974 1,740 Unappropriated receipts ( )... Foreign currency fund equity Government equity... 2, ,751, ,770 21,238 10,102,533 6,739 4,869,123 liabilities and Government equity.. Footnotes at end of section. 2, ,263, ,766 23,200 11,'866,242 8,999 5,200,650

178 170 Treasury Bulletin.FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I Financial Statements of Government Agencies and Funds Table GAI1. Statements of Financial Condition, September 30, 1977 Continued Account Revolving funds Con. Industrial fund (IR) (In thousands of dollars) Defense Department Continued All other Military Continued Defense Agencies Continued Memo: Funds transferred from others Funds transferred to others Defense Civil Preparedness Agency Civil Army Department Corps of Engineers Revolving fund (IR) ASSETS Selected current assets: Fund balances with Treasury: Budget funds... 45,267 5,851,882 4,579, ,163 44,530 1,056, ,195 Budget clearing accounts... 1,740 1,149 Deposit funds ,992 Foreign currency funds... Allowances,foreign currency funds (). Federal security holdings (at p a r )... Accounts receivable: Government agencies... 11, , ,649 44,087 ^The public ,448 2,328 12,563 2,013 Allowances ( )... Advances to: Government agencies ,242 7,746 2,959 4 The public... 12,560 9, , selected current assets... 59,250 6,090,722 4,589, ,414 60,440 1,155, ,421 Loans receivable: Repayable in dollars... Repayable in foreign currencies... Allowances ( )... Inventories: Items for s a le... 10,486 1,215 86,604 Raw materials and inventories... 1, Stockpile materials and commodities... 82,973 Allowances ( )... Real property and equipment: Land... 1,130,760 4,186 Structures and facilities... 17,504,009 90,898 Equipment , , , ,371 Leasehold improvements... Acquired security, pending disposition. Allowances ( ) Other assets: 668, ,809 7,181,442 49,559 17,811 Other... 3,371 27,954 10,743 Allowances ( ) Workinprocess, contractors... Materials and supplies other assets ,348 6,375,988 4,589, , ,256 26,877, ,620 liabilities Selected current liabilities: Accounts payable: Government agencies... 2, , ,854 58,162 2,345 66,673 47,890 The public... 43, ,689 70, ,697 5, ,211 53,343 Advances from: Government agencies... 71,247 65,482 The public , selected current liabilities... 45,819 1,260, , ,859 7, , ,353 Deposit fund lia b ilitie s ,992 Unfunded liabilities: Accrued annual leave , Other Debt issued under borrowing authority: Borrowings from Treasury... Agency securities outstanding... 1,013,627 Other... Other lia b ilitie s... 1,942 1,942 lia b ilitie s... 46,466 1,375, ,196 1,255,486 8, 563, ,602 1 to H 15,308 Unexpended budget authority: Unobligated... 14, , , ,721 9,056 Undelivered orders ,305 13,828,750 13,293, ,268 52, ,047 54,872 Unfinanced budget authority ( ) : Unfilled customer orders... 12,583 50, ,250 77,860 Contract authority... 9,219,597 9,219,597 Borrowing authprity Invested capital... 6, ,702 1,013, ,347 25,708, ,950 Other equity: Receipt account equity... 1,740 1,149 Unappropri a ted receipts ( ) Foreign currency fund equity... Government equity... 18,882 5,000,715 4,074, , ,074 26,314, ,018 liabilities and Government equity.....s5,» 6,375,988 4,589, , , ,620 Footnotes at end of section.

179 March FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I Financial Statements of Government Agencies and Funds Table GAI1. Statements of Financial Condition, September 30, 1977 Continued (In thousands of dollars) Defense Department Continued Civil Continued Army Department Continued Corps of Engineers Continued Panama Canal Soldiers1 and Airmen's Home Memo: All Canal Revolving fund other Funds Funds Zone Panama transferred transferred Government Canal from others to others Company (PE) Selected current assets: Fund balances with Treasury: Budget funds... Budget clearing accounts... Deposit funds... Foreign currency funds... Allowances, foreign currency funds (), Federal security holdings (at p a r )... Accounts receivable: Government agencies... The public... Allowances ( ).... Advances to: Government agencies... The public... selected current assets... Loans receivable: Repayable in dollars... Repayable in foreign currencies... Allowances ( )... Inventories: Items for sale... Workinprocess... Raw materials and inventories... Stockpile materials and commodities... Allowances ( )... Heal property and equipment: Land.... Structures and facilities... Equipment... Leasehold improvements... Acquired security, pending disposition, Allowances ( ).... Other assets: Workinprocess, contractors... Materials and supplies other... Other... Allowances ( ).... assets.... LIABILITIES Selected current liabilities: Accounts payable: Government agencies... The public... Advances from: Government agencies... The public... selected current lia b ilitie s... Deposit fund lia b ilitie s... Unfunded liabilities: Accrued annual leave... Other... Debt issued under borrowing authority: Borrowings from Treasury... Agency securities outstanding... Other... Other liabilities... liab ilities... GOVERNMENT EQUITY Unexpended budget authority: Unobligated... Undelivered orders... Unfinanced budget authority ( ): Unfilled customer orders... Contract authority... Borrowing authority... Invested capital... Other equity: Receipt account equity... Unappropriated receipts ( )... Foreign currency fund equity... Government equity... liabilities and Government equity.. Footnotes at end of section. 949,419 1,149 5,992 31,561 10,550 31,589 2,020 54, ,002 18,498 8,936 7, ,770 7,090 47,143 1,099 11,232 11,408 8,936 2, ,002,026 31,589 2,021 77,390 16,543 60,846 1,165 : 26, , , ,126,574 17,413,111 72, ,426 23, , ,172 7,349 90,793 12, ,500 52,0 383, , , ,385 7,181,442 31,749 17, ,417 30,220 2,072 13,144 18,345 17,075 ; 26,411,754 31,589 2, ,578, ,999 1,267 18, ,868 22, ,084 7,184 10,200 2,064 5,764 1,340 51, ,884 5, , ,294 22, ,823 12,478 53, , ,454 20,300 40,165 8,132 5,012 12,168 35, ,810 26, , , ,175 8, ,107 28,935 1,747 1,794 20,360 27,141 59,390 25,413,415 40, ,723 61,892 1, , , ,033,015 9,377 1, ,768 65, , ,411,754 31,589 2, ,578, ,999 1,267

180 172 Treasury Bulletin.FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I Financial Statements of Government Agencies and Funds Table GAI1. Statements of Financial Condition, September 30, 1977 Continued Account fin thou*sands of dollars) Defense Department Gontinued Civil Continued Army Department Continued Soldiers' & Airmen's Home Continued Revolving fund (TR) Trust fund Health, Education, and Welfare Department Food and Drug Administration Revolving fund for certification and other services (PE) All other Memo: Funds transferred from others ASSETS Selected currant assets: Fund balances with Treasury: Budget f u n d s 75 1,024 20,549,992 70,641 2,708 67,933 5,773 Budget ele*w**tig a c c o u n t s T , Allowances, foreign currency funds () 52,857,812 Accounts receivable: 330,795 2, ,438 The public ,488 1, $3 218,869 Advances to: The public... 5,253,116 6,860 6,860 4,860, ,089 84,641,389 82,123 2,716 79,407 5,781 Loans receivable: 4,828,498 Repayable in foreign currencies... Allowances () ,282 Inventories: Items for sale ,298 Work inprocess... 5,265 Raw materials and inventories... 11, Stockpile materials and commodities... 1 Allowances () Real property and equipment: Land... 12,384 / 4 Structures and facilities... 73# /yo^oufc. 86/ Equipment ,387 1,825 57,562 2,671 Leasehold improvements... Acquired security, pending disposition. Allowances () , Other assets: Workinprocess, contractors... 26,799 Materials and supplies other... 15,926 Other <50 /7*5 Allowances ()... 25,763 assets ,089 on *5 A7*> i/i 57/ 3, ,756 8,620 LIABILITIES Selected current liabilities: Accounts payable: Government agencies (0,07( A 07 A / ,212 5 The public ,008,225 80,^ , Advances from: Government agencies The public... ox.? selected current liabilities ,293,341 15, , Deposit fund liabilities , Unfunded liabilities: Accrued annual leave Other OACl yov,(ux 7fYI Debt issued under borrowing authority: Borrowings from Treasury... Agency securities outstanding... IrtQ J07, Oc.'y foq Other ,151 Other liabilities... liabilities ,657,641 15,796 1,137 14, Unexpended budget authority: Unobligated ,166,216 9,704 1,166 fk HJO R Undelivered orders ,190,105 56,623 56, Unfinanced budget authority (): Unfilled customer orders... 78,019 Contract authority... Borrowing authprity... Invested capital ,586,696 59, CO?, #3Q 0.57 Other equity: Receipt account equity Unappropriated receipts () ~ Foreign currency fund equity... I Government equity ,864, ,778 2, ,097 8,467 liabilities and Government equity ,089 90,521, ,574 3, ,756 8,620

181 March Account.FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I Financial Statements of Government Agencies and Funds Table GAI1. Statements of Financial Condition,' September 30, 1977 Continued (In thousands of dollars) Health, Education, and Welfare Department Continued Health Services Administration Center for Disease Control National Revolving fund Memo: Memo: Institutes of Health Health All organization other Funds Funds loan guarantee transferred 5J transferred and loan from others from others fund (PE) ASSETS Selected current assets: Fund balances with Treasury: Budget funds ,971 24, ,243 81, , ,686,508 1,148 1, Deposit funds Foreign currency funds... Allowances,foreign currency funds() Federal security holdings (at par)... Accounts receivable: 41,550 41,550 5,254 The public , , Allowances ()... Advances to: Government agencies , ,696 8,714 25,563 The public... 11,624 11, ,543 10,655 selected current assets... 1,404,327 25,458 1,378,869, 172, ,494,327 Loans receivable: Repayable in foreign currencies... 12,098 12,098 Allowances ()... Inventories: Items for sale... 3,354 4,067 Raw materials and inventories... Stockpile materials and commodities... Allowances ()... Heal property and equipment: Land... 1,655 1,655 Structures and facilities , , Equipment ,3 110,3 57 Leasehold improvements... Acquired security, pending disposition. Allowances () ,214 34,454 11, , , ,198 3,1 Other assets: Workinprocess, contractors... Materials and supplies other... 15,728 15,728 Other.... Allowances ()... assets... 1,805,078 37,556 1,767,521, , ,896,354 liabilities Selected current liabilities* Accounts payable: Government agencies... 73,100 The public... 34,212 Advances from: ,513 34,212 8, d XX,<dXo 13, ,574 Government agencies... The public... 1, ,939 selected current liabilities , ,725 8,546 12, ,260 Deposit fund liabilities XX Unfunded liabilities: Accrued annual leave... 62,074 62,074 2,213 5,438 19,848 Other Debt issued under borrowing authority: Borrowings from Treasury... Agency securities outstanding... ~ ~ " Other... Other liabilities... ~ ~ liabilities Q 29? 1 XU, C\*7^Q 1 J0,4.54 e> to/ GOVERNMENT EQUITY Unexpended budget authority: Unobligated... 27,890 5,860 22,030 4,337 21,945 J4,7f? Undelivered orders... 1,308,112 19,012 1,289,100 78, ,324 3JU 1,945,460 Unfinanced budget authority (): Unfilled customer orders... 40,757 40,757 33,640 Contract authority... ~ Borrowing authority... " Invested capital... Other equity: 338,676 12, ,578 2,105 68,327 4).U1y jm HVJAf /n/ Receipt account equity... Unappropriated receipts ()... 1,148 1,148 Foreign currency fund equity... I 35 Government equity... 1,635,069 36,970 1,598,099 80, , ,328,235 liabilities and Government equity.. 1,805,078 37,556 1,767,521, , ,896,354 Footnotes at end of section.

182 274 Treasury Bulletin Account ASSETS Selected current assets: Fund balances with Treasury: Allowances,foreign currency funds(). Federal security holdings (at par)... Accounts receivable: gtnamfitat. OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS, Section I Financial Statements of Government Agencies and Funds Table GAI1. Statements of Financial Condition,' September 30, 1977 Continued (In thousands of dollars) Health, Education, and Welfare Department Continued National Institutes of Health Continued jilcohol, Drug Abuse, and Mental Health Administration Revolving fund Memo: Revolving fund Working All Services other Funds capital fund, All Funds and supply transferred Lexington other transferred fund (IR) from others Addiction to others Research Center (IR) 1,683, ,147 1, Aoi OtC± 9 ono tut 10 ift 821,8 2,429 2,429 " 6,066 * 6,066 (C^Olo 0 Aid " DlO Advances to: The public , , I * 6^043 I ,726 2,480,601 19,1 1,109, ,109,1 loans receivable: Repayable in dollars... Repayable in foreign currencies... Allowances ().... Inventories: Items for sale , Raw materials and inventories... 9,273 9,273 Stockpile materials and commodities... Allowances ().... Real property and equipment: Land... 4, Structures and facilities... I 203^342 I 49,204 49,204 Equipment... 7, ,155 19,413 19,413 leasehold improvements Acquired security, pending disposition. Allowances () ,1 I :her assets: forkinprocess, contractors... 2,655 Vfaterials and supplies other... Cther... Allowances ()... assets ,846 1,187, ,187,454 liabilities Selected current liabilities: Accounts payable: Government agencies... 13,747 The public... 9, ,710 Advances from: Government agencies... The public... 1,292 18,646 selected current liabilities... 11, ,103 lecoeit fund liabilities J.JL 273 2,801 18, ,010 2,429 21,010 2,429.^T^rded liabilities: Accrued annual leave ,848 12,666 12,666 >.Mr Z*iz~ issued under borrowing authority: Borrowings from Treasury Agency securities outstanding... ~ 'ver liabilities... " ~ ~ liabilities , , ,104 GOVERNMENT EQUITY..zzper.ded budget authority:.:c:ligated... 2,570 12,405..delivered orders ,853 8,788 8,906 1,936, ,065 1,076,982.financed budget authority (): ,773 1,076,979 8,906 ' '.ract authority... 24,734 ~ ~ Bcrrcwing authority... ~ ~ r capital... 7, ,262 2,655 65,598 65,598 Vv*r equity: ^e'.eipt account equity... 'Appropriated receipts () gr. currency fund equity... I I I I I : I Vr/erament equity... 9,713 2,318, ,573 1,151, ,151,350 ~ 1aoilities and Government equity.. 20,869 2,875, ,846 1,187, ,187,454 I vrwur/iee at end of section. 2,801 18,209

183 March 1978 FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I Financial Statements of Government Agencies and Funds Table GAI1. Statements of Financial Condition, September 30, 1977 Continued Account (In thousands of dollars) Health, Education, and Welfare Department Continued Alcohol, Drug Abuse, and Health Resources Administration Mental Health Administration Con, Revolving funds Funds transferred from others Memo: Funds transferred to others Medical facilities guarantee and loan fund (PE) Health professions education fund (PE) Nurse training fund (PE) All other ASSETS Selected current assets: Fund balances with Treasury: Budget funds... 3, ,187 61,079 8,843 10, ,905 Budget clearing accounts... «. Deposit funds... Foreign currency funds... Allowances,foreign currency funds().. Federal security holdings (at par)... Accounts receivable: Government agencies ,7 6, The public ,446 3,134 11,739 5, Allowances ()... Advances to: Government agencies , ,592 The public selected current assets... 4,63d"' 195 ' 1,551^ , ,235 15,967 1,443,447 Loans receivable: Repayable in dollars ,108 23,331 22,105W 7,661 W 530,012 Repayable in foreign currencies... Allowances ()... Inventories: Items for sale... Workinprocess...» Raw materials and inventories... Stockpile materials and commodities... Allowances ()... Real property and equipment: Land... Structures and facilities... Equipment... 5,284 5,284 Leasehold improvements... Acquired security, pending disposition. Allowances ()... Other assets: Other... Allowances ()... Workinprocess, contractors... Materials and supplies other... 4, assets... ' 4,630.. "4, ,140,190 94,2^3 43,339 23,628 1,978,941 LIABILITIES Selected current liabilities: Accounts payable: Government agencies ,209 3, ,958 The public ,190 6,190 Advances from: Government agencies... The public... selected current liabilities ,399 3, ,147 Deposit fund liabilities... Unfunded liabilities: Accrued annual leave... Other... 6,420 6,420 Debt issued under borrowing authority: Borrowings from Treasury... Agency securities outstanding... 14,569 11,459 3,110 Other... Other liabilities... 9,933 liabilities ,455 3,121 4, ,567 GOVERNMENT EQUITY Unexpended budget authority: 6,823 3,110 Unobligated ,707 67,831 19,970 11,943 57,964 Undelivered orders... 3, ,363,335 1,363,335 Unfinanced budget authority (): Unfilled customer orders... Contract authority... Borrowing authority... Invested capital... 4, ,693 23,331 18,581 11, ,074 Other equity: Receipt account equity... Unappropriated receipts ()... Foreign currency fund equity... Government equity... 3,876 4,163 2,103,736,162 38,551 23,649 1,950,374 liabilities and Government equity.. 4,630 4,226 " 2,140,196.. "wvsasj 43,3# " "23,62ft"' i, W, MT Footnotes at end of section.

184 176 Treasury Bulletin Account.FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I Financial Statements of Government Agencies and Funds Table GAI1. Statements of Financial Condition,' September 30, 1977 Continued (In thousands of dollars) Health, Education, and Welfare Department Continued Health Resources Office of Assistant Secretary for Health Education Division Adminis trat ion Continued Revolving fund Memo: Office of Education Memo: Funds transferred from others Service and supply fund (IR) All other Funds transferred to others ASSETS Selected current assets: Fund balances with Treasury: Budget funds , ,749 1,779 9,859,324 9,779,281 Budget clearing accounts... Deposit funds , ,336 Foreign currency funds... Allowances,foreign currency funds (). Federal security holdings (at par) Accounts receivable: Government agencies... 22,941 2,017 20, , ,355 The public... 7 * 7 63,1 63,890 Allowances ( )... Advances to: Government agencies ,024 1,024 The public ' selected current assets ,145 2, ,326 1,779 10,054,630 9,966,985 Loans receivable: Repayable in dollars... 4,204,620 Repayable in foreign currencies... 4,204,620 Allowances ( ) , ,282 Inventories: Items for sale... 2,472 2,472. 5, ,177 Raw materials and inventories... 2, ,051 Stockpile materials and commodities , Allowances ( )... Real property and equipment: Land... Structures and facilities , ,841 Equipment... 1,548 1,548 75,2 75,092 Leasehold improvements... Acquired security, pending disposition. Allowances ( ) ,697 59,380 Other assets: Workinprocess, contractors... Materials and supplies other.... Other ,424 53,861 Allowances ( ) ,763 25,763 assets ,162 6, ,604 1,779 14,098,687 14,004,974 LIABILrriBg Selected current liabilities: Accounts payable: Government agencies ,608 1,007 32,601 29,175 29,175 The public... 24,507 2,488 22,020 1,609,904 1,602,337 Advances from: Government agencies The public... selected current liabilities ,219 3,599 54,621 1,639,079 1,631,511 Deposit fund lia b ilitie s... 3,336 3,336 Unfunded liabilities: Accrued annual leave... 5,990 5,990 22,454 20,185 Other , ,000 Debt issued under borrowing authority: Borrowings from Treasury... Agency securities outstanding , ,060 Other... 24,218 24,218 Other lia b ilitie s... lia b ilitie s ,209 3,599 60,610 2,444,709 2,434,873 Unexpended budget authority: Unobligated... 19, , ,038,318 2,038,224 Undelivered orders ,323 1,450 42,874 1,584 6,373,058 6,293,075 Unfinanced budget authority ( ): Unfilled customer orders... 3,622 3, Contract authority... Borrowing authority Invested capital... 5,028 3,740 1,288 3,241,761 3,237,963 Other equity: Receipt account equity Unappropriated receipts ( )... Foreign currency fund equity..... Government equity ,9% , liabilities and Government equity ,162 6, ,604 1,779 14,098,687 14,004,974 Footnotes at end of section.

185 March FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS... Account Section I Financial Statements of Government Agencies and Funds Table GAI1, Statements of Financial Condition, September 30, 1977 Continued Student loan insurance fund (PE) Revolving funds (In thousands of dollars) Health, Education, and Welfare Department Continued nigner education facilities loans and insurance fund (PE) Education Division Continued Office of Education Continued Memo: All other Funds transferred from others Funds transferred to others National Institute of Education Office of Assistant Secretary for Education ASSETS Selected current assets: Fund balances with Treasury: Budget funds... 31,332 97,244 9,650,705 69, ,131 29,2 Budget clearing accounts Deposit funds... 3,336 Foreign currency funds... Allowances,foreign currency funds(). Federal security holdings (at par)... Accounts receivable: Government agencies... 8, , ,574 The public ,579 55,615 * 20 1 Allowances ( )... Advances to: Government agencies... 1,024 The public selected current assets... 40, ,847 9,820,262 69, ,725 29,920 Loans receivable: Repayable in dollars , ,467 U / 3,162,096 Repayable in foreign currencies... Allowances () ,282 Inventories: Items for sale... Work inprocess... Raw materials and inventories... Stockpile materials and commodities... Allowances () Real property and equipment: Land... Structures and facilities ,841 Equipment , Leasehold improvements... Acquired security, pending disposition. Allowances () , Other assets: Workinprocess, contractors... Materials and supplies other... Other... 53, ,564 Allowances () ,763 assets , ,333 13,120,1 69, ,792 29,920 LIABILITIES Selected current liabilities: Accounts payable: Government agencies... The public... 55,905 27,039 2,135 1,546,431 15,465 2,356. 5,211 Advances from: Government ag en cies... The public.... selected current liabilities... 55,905 27,039 1,548,567 15,465 2,356 5,211 Deposit fund lia b ilitie s... 3,336 Unfunded liabilities: Accrued annual leave... 20, ,768 Other ,000 Debt issued under borrowing authority: Borrowings from Treasury... Agency securities outstanding ,060 Other... 24,218 Other lia b ilitie s... lia b ilitie s , ,881 1,572,087 15,624 2,857 6,980 Unexpended budget authority: Unobligated... 15,030 72,821 1,980,433 1, Undelivered orders... 5,987 6,287,088 52, ,369 24,615 Unfinanced budget authority (): Unfilled customer orders... Contract authority... Borrowing authority Invested capital , ,644 3,280, ,567 1,768 Other equity: Receipt account equity Unappropriated receipts ( )..... Foreign currency fund equity... Government equity ,548,823 54, ,936 22,940 liabilities and Government equity....3*4,7. 55^,333 "15,120,M l '.. T ,792" 29,920" Footnotes at end of section.

186 1J8 FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNPg Section I Financial Statements of Government Agencies and Funds Table GAI1. Statements of Financial Condition, September 30, 1977 Continued Treasury Bulletin Account Social and Rehabilitation Service Memo* Funds transferred from others (In thousands of dollars) Healthy Education, and Welfare Department Continued Funds transferred to others Social Security Administration Trust funds General funds Memo: Funds transferred to others ASSETS Selected current assets: Fund balances with Treasury: Budget funds... 4,703, Budget clearing accounts... 93, ,509 88,809 6,118 1,068 * 1 1 Deposit funds... * 3,272 Foreign currency funds... 3, Allowances,foreign currency funds (). Federal security holdings (at par)... Accounts receivable: 52,857,555 Government agencies ,385 16,212 13,884 * The public... 4, , ,1"? 1,118 Allowances () ,869 iaa,052, Advances to: Government agencies... 2,736,796 5,765 5,765 The public... 4,310, ,834 3,834 8 selected current assets... 11,755, ,143 53,856, , ,^7 ' Loans receivable: Repayable in dollars ,671 Repayable in foreign currencies... Allowances ()... Inventories: Items for sale... 1,497 1,497 " Raw materials and inventories... Stockpile materials and commodities... Allowances ()... Real property and equipment: Land... 5,272 5, Structures and facilities... 66,738 66,738 Equipment , , ,148 Leasehold improvements... Acquired security, pending disposition. Allowances ()... 48, ,359 " Other assets: Work inprocess, contractors... 26,709 26,799 15,130 Materials and supplies other... Other... Allowances ()... " assets... 11,787, Q3,143 54,038, , ,652 17,062 LIABILITIES Selected current liabilities: Accounts payable: Government agencies... 1,305 23,712 80,387 17,686 62, The public... 10,5^7 7,722, ,350 82, Advances from: Government agencies * The public selected current liabilities... 11,902 23,712 7,803, , , Deposit fund liabilities... * 3,272 3, Unfunded liabilities: Accrued annual leave... 67, ,260 Other... i , ,605 Debt issued under borrowing authority: Borrowings from Treasury... Agency securities outstanding... Other...!... Other liabilities...!... liabilities... 11,902 23,712 8,214, , , Unexpended budget authority: ,431 Unfinanced budget authority (): Unfilled customer orders... Contract authority... Borrowing authority... Invested capital... 32, , , ,834 15,986 Other equity: Receipt account equity,... * 1 1 Unappropriated receipts ()... Foreign currency fund equity... Unobligated... Undelivered orders ,743,593 45,816, , ,252 29, 199,212 72,715 1,480 2,424 Government equity... 11,775, ,431 45,823,754 25,873 12,661 16,929 liabilities and Government equity.. 11,787, ,143 54,038, , ,652 17,062 Footnotes at end of section.

187 March FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I Financial Statements of Government Agencies and Funds Table GAI1. Statements of Financial Condition, September 30, 1977 Continued (In thousands of dollars) Health, Education, and Welfare Department Continued Social Security Administration Continued Assistant Secretary for Office of Human Development the Secretary Federal Federal Federal Federal Account oldage and disability hospital supplementary Memo: survivors insurance insurance insurance trust fund trust fund trust fund trust fund Funds 21/ 21/ 21/ 21/ transferred to others ASSETS Selected current assets: Fund balances with Treasury: Budget funds... 20,356 2, ,945 47, , ,734 Budget clearing accounts... 2,988 Deposit funds... 23,994 Foreign currency funds... Allowances,foreign currency funds(). Federal security holdings (at par)... 35,409,827 4,241,0 10,973,740 2,232,078 Accounts receivable: Government agencies... 12,207 49,637 11, ,489 The public , ,959 10,611 Allowances ()... 10,266 9,551 Advances to: Government agencies The public ,275 37,677 selected current assets... 35,492,653 4,389,836 11,125,8 2,279, , ,534 Loans receivable: Repayable in dollars... Repayable in foreign currencies... Allowances ()... Inventories: 1 Items for sale Workinprocess... Raw materials and inventories... Stockpile materials and commodities... Allowances ()... Real property and equipment: Land... Structures and facilities... Equipment ,849 Leasehold improvements... Acquired security, pending disposition. Allowances () Other assets: Workinprocess, contractors... Materials and supplies other... Other... Allowances ()... assets... 35,492,^53 4,3^9,836 11,125,923 2,279,638 1,797, ,502 LIABILITIES Selected current liabilities: Accounts payable: Government agencies ,394 The public... Advances from: 6,245, , , ,047 3,334 44,974 Government agencies... The public... selected current liabilities... 6,245, , , ,047 3,334 47,368 Deposit fund liabilities ,994 Unfunded liabilities: Accrued annual leave... Other... 2,785 Debt issued under borrowing authority: Other... Other liabilities... Borrowings from Treasury Agency securities outstanding... liabilities... 6,245, , , ,047 3,334 74,147 Unexpended budget authority: Unobligated... 29,232,401 3,393,490 10,885,526 2,166,730 8,846 42,626 Undelivered orders Unfinanced budget authority (): 2,120 66,270 46,930 4,862 1,785, ,535 Unfilled customer orders... Contract authority... '... Borrowing authority... I I I I I I I Invested capital... 12, ,183 Other equity: Receipt account equity... 2,988 Unappropriated receipts ()... Foreign currency fund equity... Government equity ,932,461 2,171,5 1,794, ,355 liabilities and Government equity.. 35,492,653 4,389,836 11,125,923 2,279,638 1,797f ,502 Footnotes at end of section.

188 180 Treasury Bulletin.FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I Financial Statements of Government Agencies and Funds Table GAI1. Statements of Financial Condition; September 30, 1977 Continued Account fin thousands of dollars) Health, Education, and Welfare Department Continued Office of the Secretary Continued Housing and Urban Development Department Housing Programs Revolving fund Memo: Revolving funds Working All Federal other Funds Funds Housing capital transferred transferred Administration fund (IR) from others to others revolving fund (PE) AfiSffBS Selected current assets: Fund balances with Treasury: Budget Clear* T»g ^eeonnta,,,,,,,,,,,,, 16, ,085 2, ,718 Q Q19 3,120, ,107 56,811 " Allowances,foreign currency funds (). Accounts receivable: 3,826,467 1,933,824 1,863,436 3, ,507 60,899 49, 'W1 662, , , ,212 XcfccjXoU icfro idn 170,282 Advances to: Gflverrooept agencies , ,709 The public ,611 20,220 I ?51.88l , , ,790 &} ( JLO 15,188,127 5,982,895 2,403,816 Loans receivable: 10,845,786 6,870,574 3,259,204 Allowances 1,463,364 1,429,943 1,373,282 Inventories: T+fiiM? for sale... ~ Raw materials and inventories.... Stockpile materials and commodities Allowances ().... Real property and equipment: Land Structures and facilities * ~ 2,868 3,789 5,060 <V 2,868 ojl 5, Leasehold improvements... Acquired security, pending disposition. Allowances () ,161,241 1,125,964 1,124, , ,067 Other assets: 661,377 Workinprocess, contractors... 48,685 Materials and supplies other Other Allowances ()..* assets , , ,871 51,403 25,072,921 11,888,576 4,752,930 J^JLITIBS Selected current liabilities: Accounts payable; 1,542 1,028, ,063 40, , ,275 Advances from: Government agencies.... The public , , , ,319 Government agencies The public...,,,, ,895 76,663 76,663 selected current liabilities... 5,529 41,838 32, ,068, , ,001 Deposit fund liabilities..., ,994 56,811 Unfunded liabilities: Accrued annual leave.... 2,785 Other.... Debt issued under borrowing authority: Borrowings from Treasury ,339,821 3,528,821 Agency securities outstanding... 2'l6l*017 1,181, ,129 Other O Other liabilities *016 26*016 26,016 liabilities... & OO *DLO AT ,,442 8, ,pXU,VO/ 1 at n a&n Unexpended budget authority: Unobligated ,766 34,860 5, ,694,640 13,803,004 2,026,815 Undelivered orders.,,...,... 3, ,598 65,746 2, ,748,785 Unfinanced budget authority (): 156,100,243 Unfilled customer orders.... 8,401 Contract authority.... Borrowing authority " * 164,192, ,189,283 22,18C,284 1,500,000 Invested capital ,865 2,317 OJ. rtl 48,685 4,171,972 1,615,881 1,784,852 Other equity: Receipt account equity, Unappropriated receipts 2,988 Foreign currency fund equity,... Government equity... 15, ,787 71,147 51,076 8, ,598, ,963 liabilities and Government equity , ,871 ' 51,403 25,072,921 11,888,576 4,752,930 Footnotes at end of section.

189 March FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I Financial Statements of Government Agencies and Funds Table GAI1. Statements of Financial Condition, September 30, 1977 Continued (In thousands of dollars) Housing and Urban Development Department Continued Housing Programs Continued Revolving funds Continued Account College housing loans (EE) Lowrent public housing program (PE) Nonprofit sponsor assistance (PE) Community disposal operations fund (EE) Rental housing assistance fund (PE) Liquidating programs (PE) All other ASSETS Selected current assets: Fund balances with Treasury: Budget funds ,317 31,826 7, , ,646 2,327,545 Budget clearing accounts... Deposit funds... Foreign currency funds... Allowances,foreign currency funds () Federal security holdings (at par)... 70, Accounts receivable: Government agencies ,280 The public... 43,875 4, ,050 24,555 Allowances ( )... 5, ,810 Advances to: Government agencies ,3 The public , ,378 selected current assets , ,553 7,563 1,343 60, ,428 2,824,786 Loans receivable: Repayable in dollars... 3,046,04214/ 32,049 1,427 2, ,270 V j 735 Repayable in foreign currencies... Allowances ( )... 3,808 1, ,069 Inventories: Items for sale... Work inprocess Raw materials and inventories... Stockpile materials and commodities... Allowances ( )... Real property and equipment: Land Structures and facilities ,385 Equipment Leasehold improvements... Acquired security, pending disposition. 1,525 Allowances ( ) * 2,385 Other assets: Workinprocess, contractors... Materials and supplies other... 3 Other Allowances ( ) assets... 3,386, ,218 8,989 4,122 60, ,630 2,825,522 LIABILITIES Selected current liabilities: Accounts payable: Government agencies... 17, ,373 The public... 6,634 6, , ,662 Advances from: Government agencies... The public... selected current liabilities... 23,951 6, , ,036 Deposit fund lia b ilitie s... Unfunded liabilities: Accrued annual leave... Other.... Debt issued under borrowing authority: Borrowings from Treasury... 2,811,000 Agency securities outstanding , ,651 Other... 2,2 22,567 Other lia b ilitie s... liab ilitie s... 3,296,462 6, , ,036 Unexpended budget authority: Unobligated , ,722 6,103 1,231 59,873 79,351 10,606,570 Undelivered orders , ,032 1, , ,262,473 Unfinanced budget authority ( ) : Unfilled customer orders... Contract authority ,9 162,401,292 Borrowing authority... 1,500,000 Invested capital ,752 30,664 1,427 2, , Other equity: Receipt account equity Unappropriated receipts ()... z Foreign currency fund equity... Government equity... 89, ,418 8,989 4,010 59, ,675 2,468,486 liabilities and Government equity.. 3,386, ,218 8,989 4,122 60, ,630 2,825,522 Footnotes at end of section.

190 Treasury Bulletin Account ASSETS Selected current assets: Fund balances with Treasury:.FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I Financial Statements of Government Agencies and Funds Table GAI1. Statements of Financial Condition, September 30, 1977 Continued Housing Programs Continued Memo: Funds transferred from others Revolving fund Appalachian Other revolving fund (PE) (In thousands of dollars) Housing and Urban Development Department Continued Funds transferred to others Government National Mortgage Association Revolving funds Special assistance functions fund (PE) Management and liquidating functions fund (PE) Guarantees of mortgagebacked securities fund (PE) 1, , Foreign currency funds... Allowances, foreign currency funds() Federal security holdings (at par)... Accounts receivable: 1,804, , ,145 95,370 The public.... " " 25,484 on Allowances ( )... C,\J, )) Advances to: The public ,029 ~ 89,192 83,148 35,799 30,613 p AQA JO selected current assets... 1, , ,533,793 orr; i 75 67,626 Loans receivable: Repayable in dollars ,506,356 3,263, ,430 7,970 Allowances ( )..... " Inventories: Items for sale... Work inprocess... Raw materials and inventories... ~ Stockpile materials and commodities... Alloirances ( )... Real properly and equipment: Land... Structures and facilities... Equipment... Leasehold improvements Acquired security, pending disposition. Allowances ( ).... Other assets: Workinprocess, contractors... Materials and supplies other... Other... Allowances ( )... assets... 1, , Z /1 309,669 75,596 ilabilitijs Selected current liabilities: Accounts payable: Government agencies... 5, , / 11 The public..... " 180,341 11, Advances from: Government agencies... The public... " selected current lia b ilitie s... 5,494 1,128, ,220 19, Deposit fund li a b i l i t i e s... Unfunded liabilities: Accrued annual leave... Other... Debt issued under borrowing authority: Borrowings from Treasury... 4,907,816 / A*57 ftl A Agency securities outstanding... " 4, oj (, OID 979, , *019 Other , , ,059 Other liabilities... liab ilities... 5,494 6,599,332 5,676, , GOVERNMENT EQUITY Unexpended budget authority: Unobligated ,542 17,012,540 13,276,924 55,802 A7 Ol,?o/ *i 7 Undelivered orders ,666 1 Lei o 4,268,549 4,268,549 Unfinanced budget authority ( ): Unfilled customer carders... Contract authority... ~ ~ " Borrowing authority... ~ 19,875,308 17,625,308 Invested capital... ~ 735 1,964,963 2,025,403 52,470 7,970 Other equity: Receipt account equity... Unappropriated receipts ( )... ~ Foreign currency fund equity... I I I I I I Government equity... 1, , , 2,105, liabilities and Government equity.. 1, , ,596 Footnotes at end of section. 6,044 63,954 1,180 2,259

191 March 19J8 183.FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I Financial Statements of Government Agencies and Funds Table GAI1. Statements of Financial Condition, September 30, 1977 Continued Account ASSETS Housing and Urban Development Department Continued Government National Community Planning and Development Mortgage Association Con. Revolving funds Memo: Revolving funds Con. Participation sales fund (PE) Loans for secondary market operations fund (PE) Rehabilitation loan fund (PE) Urban renewal programs All other Funds transferred from others Selected current assets: Fund balances with Treasury: Budget funds ,241,198 84,902 1,069,577 5,086,719 28,021 Budget clearing accounts... Deposit funds... Foreign currency funds... I I I I Allowances, foreign currency funds (). Federal security holdings (at par)... 1,596,479 Accounts receivable: Government agencies , The public... 9,326 6,650 2, Allowances ( )... 4,669 4,669 Advances to: Government agencies... The public... selected current assets... 6,246,481 86,885 1,072,401 5,087,195 28,021 Loans receivable: Repayable in dollars... Repayable in foreign currencies... oqo P77 334,218 56,059 Allowances ( ) ,422 33,422 Inventories: Items for sale... Raw materials and inventories... Stockpile materials and commodities... Allowances ( )... Real property and equipment: Land... Structures and facilities... Equipment... Leasehold improvements... Acquired security, pending disposition. 2, , Allowances ( )... Other assets: Workinprocess, contractors... Materials and supplies other... Other..... zn AC) Allowances ( ) assets... c.9 uoj jyttj v>,yjyjj,07.? oqo 1,128,460 5,087,195 28,021 INABILITIES Selected current liabilities: Accounts payable: Government agencies... AArt ODOjUUY The public... nm 53,309 2,244 JO 0 syjl 5,342 } 0 jouy fy7 Advances from: Government agencies... The public... selected current liab ilities ,317 7,586 1,921 5,074 5 Deposit fund lia b ilitie s... Unfunded liabilities: Accrued annual leave... Other... Debt issued under borrowing authority: Borrowings from Treasury... Agency securities outstanding ,000 ftnn OVJVJ,UuU nnn Other... Other lia b ilitie s... " " liab ilitie s... oiri 807,586 1, ,074 Unexpended budget authority: Unobligated... 1,362,227 2,250,000 1,242,959 56, ,294 OOO Undelivered orders... 6,198,943 28,951 1,383,039 4,786,952 Unfinanced budget authority (): Unfilled customer orders... Contract authority... 1,003,007 1,003,007 Borrowing authority... 2,250,000 onn nnn 200,000 Invested capital... j jr\ «303,353 ri/'i (4;>,V4J Q/T Other equity: Receipt account equity... Unappropriated receipts ()... " Foreign currency fund equity... Government equity... 1,362,227 5,798, , ,386 5,086,604 28,021 liabilities and Government equity.. j.,4.uo 26,615 2,083,543 6,605, ,238 1,128,460 5,087,195 28,021

192 184.FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I Financial Statements of Government Agencies and Funds Table GAI1. Statements of Financial Condition, September 30, 1977 Continued Treasury Bulletin Account Community Planning and Development Continued Memo: Funds transferred to others (In thousands of dollars) Housing and Urban Development Department Continued New Communities Administration Federal Insurance Admin. Revolving fund Memo: Revolving funds New communities guarantee fund (PE) All other Funds transferred to others National insurance development fund (PE) ASSETS Selected current assets; Fund balances with Treasury: 75 17, , , Allowances, foreign currency funds (). 88,232 88,232 Accounts receivable: 1,931 1,931 3,706 3, , ,306 2,306 Advances to: Government agencies selected current assets ,581 1,105 17, ,527,092 Loans receivable: Repayable in dollars... 78,579 78,579 Repayable in foreign currencies... Allowances... Inventories: Items for s a l e » Raw materials and inventories... Stockpile materials and commodities.... Allowances... Real property and equipment: Land... Structures and fa c ilitie s.... Equipment... Leasehold improvaoents... Acquired security, pending disposition. 32,436 32,436. Allowances... Other assets: Workinprocess, contractors Materials and supplies other... Other... Allowances ( )... assets , ,119 17, ,527,092 LIABILITIES Selected current liabilities: Accounts payable: Government agencies ,052 2,052 4,346 The puiblic ,388 7,062 Advances from: Government agencies... The public ,232 1,583 selected current lia b ilitie s... 2,147 2,147 5 Deposit fund lia b ilitie s ,967 8,644 Unfunded liabilities: Accrued annual l e a v e Debt issued under borrowing authority: Borrowings from Treasury , , ,451 Agency securities outstanding... Other... Other liab ilities liab ilities , , ,418 8,644 s m ip a r c EQVm Unexpended budget authority: Unobligated... 16,105 16, , ,930 Undelivered orders ,756 1,385 1, , Uhfinanced budget authority ( ) : Unfilled customer orders... Contract authority...^......» Borrowing authority... 2,427 2, , ,000 Invested capital,... 5,421 5, ,451 Other equity: Receipt account equity... Unappropriated receipts ( ).,..... Foreign currency fund e q u ity... Government equity n , liabilities and Government equity , ,119 17, ,527,092 Footnotes at end of section.

193 March FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I Financial Statements of Government Agencies and Funds Table GAI1. Statements of Financial Condition, September 30, 1977 Continued (In thousands of dollars) Housing and Urban Development Department Continued Federal Insurance Admin. Con. Dei>artmental Management Revolving funds Con. Revolving fund Memo: National flood insurance fund (PE) All other Working capital fund (IR) All other Funds transferred from others Funds transferred to others ASSETS Selected current assets: Fund balances with Treasury: Budget funds... 73,778 68,8 5,862 63,056 24,8 88 Budget clearing accounts... Deposit funds..... Foreign currency funds... Allowances,foreign currency funds() Federal security holdings (at par)... Accounts receivable: Government agencies... 14,645 7,211 7,434 The public... 37,657 4, ^476 Allowances ()..... Advances to: Government agencies..... The public... selected current assets... 37,657 73,778 88,042 13,076 74,966 24,8 88 Loans receivable: Repayable in dollars... Repayable in foreign currencies... Allowances ()... Inventories: Items for sale... Work inprocess... Raw materials and inventories Stockpile materials and commodities... Allowances ().'... Real property and equipment: Land Structures and facilities... Equipment... 5,141 5,141 Leasehold improvements... Acquired security, pending disposition. Allowances ()... 2,892 2,892 Other assets: Workinprocess, contractors... Materials and supplies other... Other..... Allowances ().... assets... 37,657 73,778 90,373 15,407 74,966 24,8 88 LIABILITIES Selected current liabilities: Accounts payable: Government agencies... 2,253 2,093 11,676 3,816 7,860 7 The public... 81, ,140 5,862 17,278 1,116 Advances from: The public ,650 selected current liabilities ,895 2,428 34,816 9,678 25,138 1,116 7 Deposit fund liabilities... Unfunded liabilities: Accrued annual leave... Other Debt issued under borrowing authority: Borrowings from Treasury ,451 Agency securities outstanding... Other... Other liabilities... liabilities , ,678 25,138 1,116 7 Unexpended budget authority: Unobligated ,656 4, ,627 4,464 3 Undelivered orders ,350 56,867 6,3^9 50,728 19, Unfinanced budget authority (): Unfilled customer orders... 8,401 2,874 5,527 Contract authority... Borrowing authority ,549 ~ Invested capital ,451 2,331 2,331 Other equity: Receipt account equity... Unappropriated receipts ()... ~ Foreign currency fund equity... ~ ~ Government equity ,689 71,350 55,557 5,729 49,828 23, liabilities and Government equity.. 37,657 73,778 90,373 15,407 74,966 24,8 88 Footnotes at end of section.

194 186 Treasury Bulletin Account ASSETS Selected current assets: Fund balances with Treasury: Allowances,foreign currency funds() Federal security holdings (at par)... Accounts receivable: B*TNANfiTAT. OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I Financial Statements of Government Agencies and Funds Table GAI1. Statements of Financial Condition; September 30, 1977 Continued Housing and Urban Development Department Continued All other 22/ (In thousands of dollars) 1/ Interior Department Bureau of Land Management Memo: Funds transferred from others Funds transferred to others Bureau of Beclamation Revolving funds Fund for emergency expenses Fort Peck project, Montana (PE) 57,734 3,111,393 98, , ,410 2, , , ,223 14, ,594 1,262 64,801 2, ,840 12, , ,038 5 Advances to: 30,954 7, , , ,807 4,138, , , ,508 2,576 Loans receivable: Repayable in dollars , ,100 Repayable in foreign currencies..... Allowances ( )... 4,181 Inventories: Items for sale... Raw materials and inventories... Stockpile materials and conanodities.... Allowances ( )... Real property and equipment: 87,254 3,454 39,189 4, ,197 2,189, , Structures and facilities... 10,123, 31,010 6,346,399 Equipment ,108 39,339 40,497 Leasehold improvements... 97, Acquired security, pending disposition. Allowances () ,486 12, ,715 Other assets: Workinprocess, contractors... 2,690,382 2,151,318 Materials and supplies other... 18,574 8,012 3,282 Other ,360, ,2 705,019 Allowances ( ) assets ,807 21,769,404 1,255, ,221 10,0,435 19,595 J.IPILITIE5 Selected current liabilities: Accounts payable: Government agencies ,682 The public J OO ftft j 0/7 ftfiq 209, Advances from: Government agencies... 60,762 The public ,354 23,906 selected current lia b ilitie s , , , Deposit fund liab ilitie s... Unfunded liabilities: 56, , ,223 14,263 Accrued annual leave... Other... 84,438 7,456 9, ,064 Debt issued under borrowing authority: Borrowings from Treasury ,650 Agency securities outstanding... Other... Other liab ilities... 1,645, , ,506 3 liab ilities... 57,216 3,406,372 1,030, , GOVERNMENT EQUITY Unexpended budget authority: Unobligated... 9,687 1,865,833 18, , , Undelivered orders... 48,904 1,899,816 75, , ,084 1,811 Unfinanced budget authority ( ) : Unfilled customer orders... 12,134 Contract authority ,758 1,924 2,109 Borrowing authority... 1,128,127 Invested capital... 16,071, , ,924, Other equity: Receipt account equity, ,320 Unappropriated receipts ( ) , ,503 Foreign currency fund equity I I 313,392 Government equity... 58,5 18,363, , ,748 9,524,934 19,450 liabilities and Government equity.. 115,807 21,769,404 1,255, ,221 10,0,435 19,595 Footnotes at end of section ,297 80, , ,

195 March Account FTUAWiTAT. OPERATIONS OF GOVERNMENT AGENCIES AND F U N D S... Section I Financial Statements of Government Agencies and Funds Table GAI1. Statements of Financial Condition, September 30, 1977 Continued (In thousands of dollars) Interior Department Continued Bureau of Reclamation Continued Bureau of Outdoor Recreation Revolving funds Continued Memo: Memo: Upper Colorado River Basin fund (PE) Lower Colorado River Basin fund (PE) All other Funds transferred from others Funds transferred to others Funds transferred from others ASSETS Selected current assets: Fund balances with Treasury: Budget funds... 21,223 51, , ,457 14, ,295 7,089 Budget clearing accounts * Deposit funds... 1, , Foreign currency funds... Allowances,foreign currency funds() Federal security holdings (at par)... Accounts receivable: Government agencies , The public Allowances ()... 5,569 7,013 29, Advances to: Government agencies L 1 The public... 3,142 I 1,024 11, selected current assets... 28,990 59, , ,672 15, ,074 7,685 Loans receivable: Repayable in dollars ,100 1,241 Repayable in foreign currencies... Allowances ()... Inventories: Items for sale... Workinprocess... Raw materials and inventories ,904 Stockpile materials and commodities... Allowances ()... Real property and equipment: Land... 82,420 Structures and facilities ,704 5,481,438 Equipment... 4,040 1,795 34, Leasehold improvements... Acquired security, pending disposition. Allowances ()... 16, ,678 Other assets: Workinprocess, contractors , ,658 1,773,820 14,174 Materials and supplies other... 3,186 Other... 30, , ,422 Allowances ()... assets... 1,107, ,759 8,537, ,672 30, ,989 7,685 LIABILITIES Selected current liabilities* Accounts payable: Government agencies ,623 1, The public... 10,933 3,939 65, ,290 Advances from: 9 Government agencies... The public... 1,053 22, selected current liabilities... 12,464 4,017 98,045 1, ,622 9 Deposit fund liabilities... 1, , Unfunded liabilities: Accrued annual leave... 17,064 5 Other Debt issued under borrowing authority: Borrowings from Treasury... Agency securities outstanding... Other... Other liabilities... 12, ,034 liabilities... 26,261 4, ,853 1, ,572 9 GSV1SIPSJ4T EQUITY Unexpended budget authority: Unobligated... 7,024 9, ,131,988 6,308 81, Undelivered orders... 8,617 47,541,116 8,006 7, ,150 7,253 Unfinanced budget authority (): Unfilled customer orders... Contract authority... 2,109 20,000 Borrowing authority... Invested capital... 1,066, ,674 7,473,898 16,440 82,000 Other equity: Receipt account equity... * Unappropriated receipts ()... Foreign currency fund equity , ,392 Government equity... 1,081, ,516 8,001,257 99,993 30, , liabilities and Government equity.. 1,107, ,759 8,537, ,672 30, ,989 7,685 Footnotes at end of section.

196 188 Treasury Bulletin Account ASSETS.FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I Financial Statements of Government Agencies and Funds Table GAI1. Statements of Financial Condition,' September 30, 1977 Continued Bureau of Outdoor Recreation Continued (In thousands of dollars) Interior Department Continued United States Fish National Park Service Geological and Wildlife Service Memo: Survey Memo: Memo: Funds Funds transferred transferred from others to others Funds Funds transferred transferred from others to others Selected current assets: Fund balances with Treasury: Budget funds,,... 86, ,548 1, , ,621 83, , 8, Allowances,foreign currency funds(). Federal security holdings (at par)... Accounts receivable: 4, The public... Allowances ( ) Advances to: Government agencies ,538 6, / 27,444 25,0 The public... 5, , ^990 86, ,6 1, , , ,018 Loans receivable: Repayable in* dollars... Repayable in foreign currencies ,012 Allowances ( )... Inventories: Items fo** sa le,... 86, Raw materials inventories ,023 QOQ Stockpile materials and commodities... Allowances ( ) Real property and equipment: Land ,251 3,525, Structures and facilities ,4 1,087, Equipment...,305 84,489 13Q V 7, 707 <7( Leasehold improvements...,, 25,782 Acquired security, pending disposition. Allowances ( ).., Other assets: Workinprocess, contractors... 10,662 Materials and supplies other... 7,125 Other... 21,325 Allowances ( ) assets... 86, ,420 1,678 3,215, LIABILITIES Selected overrent liabilities: Accounts payable: Government agencies , , The public... 26,124 17, a Advances from: Government agencies... The public... 5,581 selected current liab ilities... 26,394 25, , ,417 Deposit fund lia b ilitie s... Unfunded liabilities: 696 1, 8,343 Accrued annual leave... Other... 9,177 16,441 ~ 12 19,162 Debt issued under borrowing authority: Borrowings from Treasury... Agency securities outstanding... " Other Other lia b ilitie s li a b i li t i e s... 26,394 35, , L 921 GOVERNMENT EQUITY Unexpended budget authority: Unobligated... 47,639 63, , , Undelivered orders... 12, , ,773 48,429 ftq 07;7/ Q 7 7( Unfinanced budget authority (): Unfilled customer orders... 8,130 Contract authority... / i n Borrowing authority... Invested capital, ,552 2,964, ,947 Other equity: Receipt account equity, Unappropriated receipts ( ) , Foreign currency fund equity... I 3 5 Government equity ,150 3,175, , ,206 liabilities and Government equity.. 86, ,420 1,678 3,215, , ,127 Footnotes at end of section. 10,285 26,567 10,565

197 March FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS... Section I Financial Statements of Government Agencies and Funds Table GAI1. Statements of Financial Condition, September 30, 1977 Continued Account (In thousands of dollars), Interior Department Continued Geological Survey Continued Mining Enforcement and Bureau of Mines Matno. Safety Administration \famrs 0 Revolving fund Funds transferred from others Funds transferred to others 5/ Funds transferred to others Helium fund (PE) All other ASSETS Selected current assets: Fund balances with Treasury: 18, ,808 1, ,771 7, ,063 Budget clearing accounts... 1 Deposit funds Foreign currency funds.... Allowances,foreign currency funds (),. Federal security holdings (at par)... Accounts receivable: Government agencies ,474 1, The public ,384 1, Allowances ().... Advances to: Government agencies ,000 8,000 The public selected current assets , ,904 1, ,831 10, ,947 Loans receivable: Repayable in dollars.... Repayable in foreign currencies... Allowances () Inventories: Items for sale Raw materials and inventories... Stockpile materials and commodities , ,197 Allowances ().... Real property and equipment: Land ,576 1,034 6,541 Structures and facilities ,443 3,063 38,141 17,702 20,439 Equipment ,880 12,272 79,435 35,002 44,433 Leasehold improvements Acquired security, pending disposition. Allowances () ,499 33,005 40,494 Other assets: Workinprocess, contractors ,269 5,962 2,882 3,080 Materials and supplies other... 5, Other Allowances () assets... 26, ,276 15, , , ,092 LIABILITIES Selected current liabilities: Accounts payable: Government agencies , The public , ,266 29,944 8,322 Advances from: Government agencies , ,571 The public selected current liabilities , ,448 30,637 12,811 Deposit fund liabilities Unfunded liabilities: Accrued annual leave ,015 4,864 4,864 Other Debt issued under borrowing authority: Borrowings from Treasury , ,650 Agency securities outstanding... Other Other liabilities , ,801^/ liabilities , , ,318 18,444 GQVERpffiNT Unexpended budget authority: Unobligated ,093 32,261 11,873 20,388 Undelivered orders , , , ,850 Unfinanced budget authority (); Unfilled customer orders ,871 3,871 Contract authority ,403 29,403 Borrowing authority ,127 3,127 Invested capital , ,357 14, , ,956 29,281 Other equity: Receipt account equity Unappropriated receipts ()... z z Government equity... 26, ,277 15, , , ,648 liabilities and Government equity.. 26, ,276 15, , , ,092 Footnotes at end of section.

198 190 Treasury Bulletin Account.FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I Financial Statements of Government Agencies and Funds Table GAI1. Statements of Financial Condition; September 30, 1977 Continued (In thousands of dollars) Interior Department Continued Bureau of Mines Continued Funds transferred from others Memo: Funds transferred to others Alaska Bonneville Power Power Administration Administration Southeastern Power Administration Southwestern Power Administration Bureau of Indian Affairs ASSETS Selected current assets: Fund balances with Treasury: Deposit funds ,710 Foreign currency funds... Allowances,foreign currency funds(). Federal security holdings (at par)... 6,531 Accounts receivable: Government agencies , ,490 The public ,830 2,0 26, ,793 Allowances ()... 8 Advances to: Government agencies... 12,078 The public Budget funds... Budget clearing accounts... 10,436 10, * 45, , ,956 selected current assets... 10,436 10, ,2 4,003 30,278 1,189,579 Loans receivable: Repayable in dollars... 55,822 Repayable in foreign currencies... Allowances ()... 4,181 Inventories: I tans for sale Work inprocess ,206 Raw materials and inventories... 25,477 1,381 4,896 Stockpile materials and commodities... Allowances ().'... Real property and equipment: Land , ,1 Structures and facilities ,855 1,540,254 54, ,273 Equipment , , ,730 Leasehold improvements... 65,514 4,731 Acquired security, pending disposition. Allowances () , , ,731 Other assets: Workinprocess, contractors , ,025 Materials and supplies other... 9 Other , , Allowances () assets... 10,436 10, ,259 1,893,737 4,034 83,671 2,162,089 LIABILITIES Selected current liabilities: Accounts payable: Government agencies... * 25 1, ,476 The public , ,490 36,753 Advances from: Government agencies ,670 The public , selected current liabilities , ,931 73,561 Deposit fund liabilities ,710 Unfunded liabilities: Accrued annual leave... « Other... 7,456 Debt issued under borrowing authority: Borrowings from Treasury ,000 Agency securities outstanding... Other... Other liabilities liabilities , , ,125 GOVERNMENT EQUITY Unexpended budget authority: Unobligated... 1,259 9, ,052, ,813 Undelivered orders... 8, , ,6 Unfinanced budget authority (): Unfilled customer orders... * Contract authority... 22,2 Borrowing authority... 1,125,000 Invested capital ,733 1,607, , ,148 Other equity: Receipt account equity... 3,884 30,224 Unappropriated receipts ()... 3,292 Foreign currency fund equity... Government equity... 9,994 10, ,130 1,607,026 '""3,&6 &L,4^4 1,374,964 liabilities and Government equity.. 10,436 10, ,259 1,893,737 4,034 83,671 2,162,089 Footnotes at end of section.

199 March FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS... Section I Financial Statements of Government Agencies and Funds Table GAI1. Statements of Financial Condition, September 30, 1977 Continued, fin thousands of dollars) Interior Department Continued Account ASSETS Revolving fund for loans (PE) Revolving funds Indian loan guaranty and insurance fund (PE) Bureau of Indian Affairs Continued Liquidation of Hoonah housing project (EE) Trust funds All other Funds transferred from others Memo: Funds transferred to others Selected current assets: Fund balances with Treasury: Budget funds... 23,065 42,384 Budget clearing accounts , ,476 1,472 11,072 Deposit funds... 61,710 Foreign currency funds... Allowances,foreign currency funds() Federal security holdings (at par)... 6,531 Accounts receivable: Government agencies... 7,490 The public , ,565 Allowances ( )... 8 Advances to: Government agencies... * 12,077 The public selected current assets... 23,065 42, , ,126 1,472 11,072 Loans receivable: Repayable in dollars... 55, Repayable in foreign currencies... Allowances ( )... 4, Inventories: Items for sale... Work iniprocess ,282 Raw materials and inventories... 4,896 Stockpile materials and commodities... Allowances ( )... Real property and equipment: Land ,032 Structures and facilities... 8, , Equipment... 4, , Leasehold improvements... Acquired security, pending disposition. Allowances ( )... Other assets: Workinprocess, contractors... Materials and supplies other... 66,025 Other Allowances ( )... assets... 74,712 42, ,381 1,548,511 1,472 11,163 LIABILITIES Selected current liabilities: Accounts payable: Government agencies ,340 The public , Advances from: Government agencies... 24,670 The public selected current liabilities ,118 72, Deposit fund lia b ilitie s... 61,710 Unfunded liabilities: Accrued annual leave... 2 Other... 7,456 Debt issued under borrowing authority: Borrowings from Treasury... Agency securities outstanding... Other... Other lia b ilitie s , ,926 liab ilities , ,5 312, Unexpended budget authority: Unobligated... 22,996 37, ,625 67,837 1,166 Undelivered orders... 4,958 1, ,035 1,440 9,753 Unfinanced budget authority (): Unfilled customer orders... Contract authority... Borrowing authority... 22,2 Invested capital... 51,647 7, , ,720 Other equity: 93 Unappropriated receipts ( )... Receipt account equity... : : : : Foreign currency fund equity... Government equity... 74,643 34, , , liabilities and Government equity.. Footnotes at end of section. 74,712 42, ,381 1,548,511 1,472 11,163

200 192 Treasury Bulletin.FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I Financial Statements of Government Agencies and Funds Table GAI1. Statements of Financial Condition, September 30, 1977 Continued (In thousands of dollars) Interior Department Continued Secretarial Offices Justice Department Account Territorial Affairs Revolving fund Office Memo: of Water Working Research All Funds capital and other transferred fund (IR) Technology 2 kf from others ASSETS Selected current assets: Fund balances with Treasury: Deposit funds ,731 1,731 45,043 Foreign currency funds.... Allowances,foreign currency funds(). Federal security holdings (at par)... Accounts receivable: Government agencies ,074 The p u b l i c... 23,351 16,819 6,532 15,186 Allowances ().... Advances to: Government agencies ,206 The public ,0 Budget funds... Budget clearing accounts... $3,530 24,107 * ,976 8,462 * 16 1,231,062 9,785 selected current assets... 83,9^9 49,694 17,489 15,096 17, ,588,446 Loans receivable: Repayable in dollars , ,597 Repayable in foreign currencies.... Allowances... Inventories: Items for sale ,044 Work inprocess.... 9,667 Raw materials and inventories... 28,213 Stockpile materials and commodities... Allowances ()... Real property and equipment: Land ,856 Structures and facilities... 3, ,772 Equipment.., , , ,621 Leasehold improvements Acquired security, pending disposition. Allowances () ,925 Other assets: Workinprocess, contractors ,277 Materials and supplies other... 9,8 Other ,279 2,279 8,908 Allowances () assets ,442 75,043 17,770 15,096 42, J^ILITIES Selected current liabilities: Accounts payable: Government agencies , , ,889 The public ,526 1, ,221 Advances from: Government agencies ,4 13,052 2,862 12,867 The public selected current liabilities ,642 13, , ,977 Deposit fund liabilities ,731 1,731 45,043 Unfunded liabilities: Accrued annual leave ,279 2,279 84,5 Other ,811 Debt issued under borrowing authority: Borrowings from Treasury... Agency securities outstanding... Other Other liabilities ,028 liabilities ,162 25,652 13, , ,451 Unexpended budget authority: Unobligated ,464 4, ,237 1, ,640 Undelivered orders ,266 21,610 3,987 11,635 5, ,167,362 Uhfinanced budget authority (): Unfilled customer orders Contract authority ,023 Borrowing authority Invested capital... 40,458 23, , ,582 Other equity: Receipt account equity... * * Unappropriated receipts ()... 11,441 Foreign currency fund equity... Government equity ,280 49,3 4,718 14,872 29* ,997,002 liabilities and Government equity.. 124,442 75,043 17,770 15,096 42, ,985,453 Footnotes at end of section.

201 March FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND F U N D S Section I Financial Statements of Government Agencies and Funds Table GAI1. Statements of Financial Condition, September 30, 1977 Continued Legal activities and general administration (In thousands of dollars) Justice Department Continued Account Revolving fund Federal Working All capital other fund (IR) Bureau of Investigation Immigration and Naturalization Service Drug Enforcement Administration Memo: Funds transferred from others ASSETS Selected current assets: Fund balances with Treasury: Budget funds... 37,038 2,282 34,757 56,460 31,988 37,032 2,020 Budget clearing accounts... 8,683 8,683 1,066 2 * Deposit funds... 6,079 6,079 1,151 25, Foreign currency funds... Allowances,foreign currency funds(.). Federal security holdings (at par)... Accounts receivable: Government agencies... 3, ,238 1, ,7 The public... 1,005 1, ,743 1,223 Allowances ()... Advances to: Government agencies... 2,362 2, The public ,058 selected current assets... 59,734 2,650 57,084 59,839 63,142 45,140 2,020 Loans receivable: Repayable in dollars... Repayable in foreign currencies... Allowances () Inventories: Items for sale... Workinprocess... Raw materials and inventories... 6,205 Stockpile materials and commodities... Allowances () Real property and equipment: Land Structures and facilities... 26,016 13,775 Equipment... 24, ,320 86,666 38,759 27,493 Leasehold improvements... Acquired security, pending disposition. Allowances () ,3 Other assets: Workinprocess, contractors , , Materials and supplies other Other... 3,195 4,808 Allowances ()... assets ,922 2, , ,061 97,792 83,646 2,020 LIABILITIES Selected current liabilities: Accounts payable: Government agencies... 8, ,354 5,146 2,632 2,490 1,326 The public , ,666 28,823 15,726 6,596 Advances from: Government agencies The public... selected current liabilities ,39jt" ,020 33,969 18,358 9,085 1,326 Deposit fund liabilities... 6,079 6,079 1,151 25, Unfunded liabilities: Accrued annual leave... Other... 14, ,835 29,306 11,763 8,014 4,808 Debt issued under borrowing authority: Other... Other liabilities , ,833 3,195 Borrowings from Treasury... Agency securities outstanding... liabilities , ,767 64,425 58,354 22,817 1,326 GOVERNMENT EQUITY Unexpended budget authority: Unobligated ,228 2, , Undelivered orders... 6, ,301 23,648 17,508 33, Unfinanced budget authority (): Unfilled customer orders... Contract authority... Borrowing authority... Invested capital... 9, ,485 83,922 19,692 25,684 Other equity: Receipt account equity... 8,683 8,683 1,066 1,658 Unappropriated receipts ()... Foreign currency fund equity... Government equity... 26,772 2,302 24, ,636 39,437 60, liabilities and Government equity.. 778,922 2, , ,061 97,792 83,646 2,020 Footnotes at end of section.

202 194 Treasury Bulletin Account.FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I Financial Statements of Government Agencies and Funds Table GAI1. Statements of Financial Condition, September 30, 1977 Continued (In thousands of dollars) Justice Department Continued Federal Prison System Law Enforcement Revolving funds Memo: Assistance Administration Federal Commissary Deposit Prison funds, All Funds funds Industries, Inc, Federal other transferred (IR) Prisons (TR) to others ASSETS Selected current assets: Fund balances with Treasury: Budget funds... 90,565 14,383 1,859 74,324 59, ,978 Budget clearing accounts * 2,335 2,335 9, Foreign currency funds... Allowances,foreign currency funds(). Federal security holdings (at par)... Accounts receivable: Government agencies... 11,783 10,724 * 1, The public ,277 Allowances ( )... Advances to: Government agencies... 7,867 The public ,838 selected current assets ,080 25,624 1,859 78,596 59,201 9,502 1,245,010 Loans receivable: Repayable in dollars ,597 Repayable in foreign currencies... «Allowances ( )... Inventories: Items for sale... 8,044 7, Work inprocess ,667 6,538 3,129 Raw materials and inventories... 22,008 22,008 Stockpile materials and commodities.... Allowances ( )... Real property and equipment: Land... 12,378 12,378 3 Structures and facilities ,981 27, ,903 Equipment... 53,384 24, ,059 1,8 Leasehold improvements Acquired security, pending disposition. Allowances ( )... 89,713 23, , Other assets: Workinprocess, contractors... 48,601 48,601 40,680 Materials and supplies other... 9,378 9,378 Other Allowances ( )... a s s e ts ,774 90,962 3, ,617 99,884 9,502 1,399,757 LIABILITIES Selected current liab ilities: Accounts payable: Government agencies... 3,115 1, , ,982 The public... 24,696 6, , ,508 Advances from: Government agencies... 12,867 The public... selected current liabilities... 27,811 7, , ,357 Deposit fund lia b ilitie s... Unfunded liabilities: 2,335 2,335 9, Accrued annual leave... 19,379 19,379 2,117 1,290 Other... 3 Debt issued under borrowing authority: Borrowings from Treasury... Agency securities outstanding... Other... Other lia b ilitie s... lia b ilitie s... 49,526 7, ,732 2,897 9,502 31,677 Unexpended budget authority: Unobligated... 86,082 48,308 1, , ,216 Undelivered orders... 32,840 12, ,640 38,516 1,053,409 Unfinanced budget authority (): Unfilled customer orders... 43,023 43,023 Contract authority... Borrowing authority... Invested capital ,314 65,338 1, ,641 38, ,455 Other equity: Receipt account equity... Unappropriated receipts ( )... Foreign currency fund equity * Government equity ,248 83,523 2, ,884 96,987 1,368,080 liabilities and Government equity.. Footnotes at end of section. 442,774 90,962 3, ,617 99,884 9,502 1,399,757

203 March 1978 FTNANfUAT, OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS..... Section I Financial Statements of Government Agencies and Funds Table GAI1. Statements of Financial Condition; September 30, 1977 Continued Account (In thousands of dollars) Justice Department Continued Labor Department Law Enforcement Assistance Administration Continued Manpower and other bureaus 25/ Revolving fund Memo* Revolving fund Unemployment trust fund All other Operation sting (PE) Funds transferred from others Funds transferred to others Working capital fund (IR) 21/ ASSETS Selected current assets: Fund balances with Treasury: Budget funds ,976 4, ,722,819 8, ,261 Budget clearing accounts... * ,380 Allowances,foreign currency funds (). Federal security holdings (at par)... 5,9,872 5,987,165 Accounts receivable: Government agencies ,145 1,078 The public... 8,277 8,026 2,448 * Allowances () Advances to: Government agencies... 7, The public , , ,671 selected current assets ,2^5,008 12, ,082,818 9,360 6,479,097 Loans receivable: Repayable in dollars ,597 Repayable in foreign currencies... Allowances () Inventories: Items for sale... Raw materials and inventories Stockpile materials and commodities... : Allowances () Real property and equipment: Land ,530 Structures and facilities... 79,336 Equipment... 1,Q18 126,6 2,202 Leasehold improvements... Acquired security, pending disposition. Allowances () , Other assets: Workinprocess, contractors... Materials and supplies other... Other... Allowances ()... assets ,3^9,755 12, ,188,671 10,054 6,479,097 LIABILITIES Selected current liabilities: Accounts payable: Government agencies... 6,982 8,764 4,318 The public... 10, ,841 2,249 Advances from: Government agencies... 12, The public... selected current liabilities... 30, ,667 6,629 Deposit fund liabilities ,380 Unfunded liabilities: Accrued annual leave... 1,290 25,151 1,172 Other ,853,000 Debt issued under borrowing authority: Borrowings from Treasury... Agency securities outstanding... Other... Other liabilities......, liabilities... 31,677 8,045,198 7,801 GOVERNMENT EQUITY Unexpended budget authority: Unobligated ,214 1, ,181,415 Undelivered orders ,053,409 11, ,733,384 1, ,465,054 14,042 Unfinanced budget authority (): Unfilled customer orders.... Contract authority * Borrowing authority... 7,772, Invested capital ,455 Other equity: Receipt account equity... * 973 Unappropriated receipts ()... Foreign currency fund equity... 7 " Government equity ,368,0/ 8 12, ,143,473 3,153 6,479,097 liabilities and Government equity.. 2 1,399,755 12, M M 10,954 6,4*79,097" Footnotes at end of section.

204 196 Treasury Bulletin.FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I Financial Statements of Government Agencies and Funds Table GAI1. Statements of Financial Condition, September 30, 1977 Continued fin thousands of dollars) Labor Department Continued Manpower and other bureaus 25/ Continued Unemployment Memo: trust fund Account Continued All Memo: other Funds Funds transferred transferred Funds from others to others transferred to others State Department Revolving fund Working capital fund (IR ) ASSETS Selected current assets: Fund balances with Treasury: 5,145 11,233, ,944 1, ,380 7,143 Foreign currency funds... Allowances,foreign currency funds (). Federal security holdings (at par)... 4, , ,428 Accounts receivable: Government agencies... 51, , ,299 2,011 4,555 The public... 2, ,812 1,077 Allowances () Advances to; Government agencies The public ,525 5,176 3,987 17,562 1 Budget funds... Budget clearing accounts , ,928 5, selected current assets... 56,830 11,594, , , ,404 1, ,095 Loans receivable: Repayable in dollars... 45,351 Repayable in foreign currencies... Allowances () Inventories: Items for sale Workinfprocess... Raw materials and inventories... Stockpile materials and commodities... Allowances ()... Real property and equipment: Land... 3,530 93,557 ' Structures and facilities... 79, ,545 Equipment... 1, , ,523 1,825 Leasehold improvements... 24,595 Acquired security, pending disposition. Allowances () ,096 52,798 1,277 Other assets: Workinprocess, contractors... 32,325 Materials and supplies other Other... 58,503 1,029 Allowances ()... assets ,535 11,698, , ,238 1,564,550 3, ,095 LIABILITIES Selected current liabilities: Accounts payable: Government agencies... 63,898 4, ,723 35, The public ,592 23,813 33, , Advances from: Government agencies The public... selected current liabilities... 63, ,038 23,909 34, ,038 1, Deposit fund liabilities... 13,380 7,143 Unfunded liabilities: Accrued annual leave ,979 49, Other... 7,853,000 Debt issued under borrowing authority: Borrowings from Treasury.... Agency securities outstanding... Other... Other liabilities... liabilities... 64,452 8,037,397 23,909 34, ,764 2, Unexpended budget authority: Unobligated... 46,432 3,714, , , ,888 Undelivered orders... Unfinanced budget authority (): 44 7,718,420 84,030 23, ,130 1, Unfilled customer orders ,637 1,637 Contract authority... Borrowing authority... Invested capital... 98,471 7,772, ,123 1,059 Other equity: Receipt account equity ,475 5,513 Unappropriated receipts ()... 5,513 5,513 Foreign currency fund equity.... Government equity... 52,083 3,661,224 84, ,438 1,207,786 1, ,024 liabilities and Government equity.. 116,535 11,698, , ,238 1,564,550 3, ,095 Footnotes at end of section. Trust funds

205 March 1978 FiMAHniAi. OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I Financial Statements of Government Agencies and Funds Table GAI1. Statements of Financial Condition,' September 30, 1977 Continued (In thousands of dollars) State Department Continued International Boundary and Water Commission All other 197 Transportation Department Funds transferred from others Funds transferred to others Funds transferred from others Funds transferred to others Selected current assets: Fund balances with Treasury: Budget funds... Budget clearing accounts.... Deposit funds.... Foreign currency funds.... Allowances,foreign currency funds()«federal security holdings (at par)..., Accounts receivable: Government agencies.... The public.... Allowances ().... Advances to: Government agencies.... The public.... selected current assets.... Loans receivable:, Repayable in dollars.... Repayable in foreign currencies.... Allowances ().... Inventories: Items for sale.... Workinprocess Raw materials and inventories.... Stockpile materials and commodities..., Allowances ().... Real property and equipment: Land Structures and facilities.... Equipment.... Leasehold improvements.... Acquired security, pending disposition, Allowances ().... Other assets: Workinprocess, contractors... Materials and supplies other.... Other.... Allowances ().... assets.... LIABILITIES Selected current liabilities: Accounts payable: Government agencies... The public.... Advances from: Government agencies.... The public... selected current liabilities... Deposit fund liabilities... Unfunded liabilities: Accrued annual leave.... Other Debt issued under borrowing authority: Borrowings from Treasury... Agency securities outstanding.... Other.... Other liabilities.... liabilities... GOVERNMENT EQUITY Unexpended budget authority: Unobligated.... Undelivered orders.... Unfinanced budget authority (): Unfilled customer orders.... Contract authority.... Borrowing authority.... Invested capital.... Other equity: Receipt account equity.... Unappropriated receipts ().... Foreign currency fund equity.... Government equity.... liabilities and Government equity., Footnotes at end of section. 19, ,833 44, ,344 3,068 26,884 32, , , ,147 14,540 4, , ,210.'2iv;'j5r 6, ,744 14,176 1,029 21,950 2,557 4,187 15,206 21,949 si, m T tt 434,259 5,233 7,023 58,725 2,724 17, ,525 45,351 49, , ,630 24,595 24,637 1,075,843 33, , ,563 7,023 48, ,421 73, , ,253 7, ,423 1,075,^43 96, ,481 97,481 90,855 90,855 90,855 4,210 2,416 97,481 1, ,743 1,045 2, , ,789 3,152,471 1,038 8,460 13,340, ,464 49,108 6,592 79,652 28,010 16,882, ,628 18, , , ,024 1,592,411 1,609, , , ,266 20, , ,510,145 61,197 1,443,752 63,870 1,384 1,570,202 8, , ,388 1, ,039 2,011,898 29,519,941 16,418,109 2,9 30,349,3 6, ,190,455 17,845 20,498,246 22,510,145

206 198 Treasury Bulletin.FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I Financial Statements of Government Agencies and Funds Table GAI1. Statements of Financial Condition; September 30, 1977 Continued Account (In thousands of dollars) Transportation Department Continued Revolving fund Working capital fund (IR) Office of the Secretary All other Funds transferred from others Memo: Funds transferred to others Coast Guard Revolving funds fund^ir) Selected current assets: Furd balances with Treasury: Budget funds... Budget clearing accounts... Deposit funds... Foreign currency funds... Allowances,foreign currency funds (). Federal security holdings (at par)... Accounts receivable: Government agencies... The public... Allowances ( )... Advances to: Government agencies... The public... selected current assets... Loans receivable: Repayable in dollars... Repayable in foreign currencies... Allowances ( ).... Inventories: Items for sale.... Workinprocess..., Raw materials and inventories... Stockpile materials and commodities..., Allowances ( ).... Real property and equipment: Land... Structures and facilities... Equipment... Leasehold improvements... Acquired security, pending disposition, Allowances ( )... Other assets: Workinprocess, contractors... Materials and supplies other... Other... Allowances ( )...;... assets... LIABILITIES Selected current liabilities: Accounts payable: Government agencies... The public... Advances from: Government agencies... The public... selected current liab ilitie s... Deposit fund lia b ilitie s... Unfunded liabilities: Accrued annual leave... Other... Debt issued under borrowing authority: Borrowings from Treasury... Agency securities outstanding... Other... Other lia b ilitie s... lia b ilitie s... Unexpended budget authority: Unobligated... Undelivered orders... Unfinanced budget authority (): Unfilled customer orders... Contract authority... Borrowing authority... Invested capital... Other equity: Receipt account equity... Unappropriated receipts ( )... Foreign currency fund equity... Government equity... liabilities and Government equity Footnotes at end of section. 53,45a 4,786 58, ,156 2, Q6 49 4? 1,418 : 10 10,069 8,170 1, ,78Q 3, * , , ,689 44, ,504 72,141 3,394 68, ,409 6,274 18,540 18, , , ,786 1,786 46,221 22,537 22, ,854 32,392 3,581 28,811,219 ~ 808,804 2,875 2,875 10, ,363 2, , ,844 6, , ap 963 2, ,814 2, , ,356 3,997 9,146 1,163 7,983 46,432 3,615 27, ,799 36, ,278 2,036 37, ,810 7, ,418 2,100 2,100 1, ,41*558 39, ,429 7,612 14,162 1,359 12, , ,214 5,160 20, ,18/ 4,861 : 7,357 6,564.5,160 1,404 50,954 6,433 54,472 3,288 51,184 ~ 1,944,852 18, Q6 87,286 4,647 82, ,377, ,844 6, , ,506,783 24,814 :

207 March 1978 FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I Financial Statements of Government Agencies and Funds Table GAI1. Statements of Financial Condition, September 30, 1977 Continued 199 ASSETS Selected current assets: Fund balances with Treasury: Budget funds... Budget clearing accounts... Deposit funds... Foreign currency funds... Allowances,foreign currency funds() Federal security holdings (at par)... Accounts receivable: Government agencies... The public... Allowances ( )... Advances to: Government agencies... The public... selected current assets... Loans receivable: Repayable in dollars... Repayable in foreign currencies... Allowances ( )... Inventories: Items for sale... Workinprocess... Raw materials and inventories... Stockpile materials and commodities... Allowances ( )... Real property and equipment: Land... Structures and facilities... Equipment... Leasehold improvements... Acquired security, pending disposition, Allowances ( ).... Other assets: Workinprocess, contractors... Materials and supplies other... Other... Allowances ( ).... assets... LIABILITIES Selected current liab ilities: Accounts payable: Government agencies... The public... Advances from: Government agencies... The public... selected current liabilities.. Deposit fund lia b ilitie s... Unfunded liabilities: Accrued annual leave... Other... Debt issued under borrowing authority: Borrowings from Treasury... Agency securities outstanding... Other... Other lia b ilitie s... liabilities... GOVERNMENT EQUITY Unexpended budget authority: Unobligated... Undelivered orders... Unfinanced budget authority (): Unfilled customer orders... Contract authority... Borrowing authority... Invested capital... Other equity: Receipt account equity... Unappropriated receipts ( )... Foreign currency fund equity... Government equity... liabilities and Government equity. Footnotes at end of section. Yard fund (IR) (In thousands of dollars) Transportation Department Continued Coast Guard Continued Revolving funds Continued Cadet fund (TR) Surcharge collections, sales of commissary stores (TR) All other Memo: Funds transferred from others Federal Aviation Administration Revolving fund Aviation war risk insurance revolving fund (PE) 29, ,163 * 229, ,418 6, ,261,176 15,195 1, ,959 6, ,103 7, ,857 2,501 8,504 10,677 31, ,710 * 3,524,879 15, , ,981 7, , , ,424 26,017 18, , ,708 4, ,850 1,309, ,804 1,521 10, ,773 4, , ,701 20, , ,429,898 * 6,345,319 15,545 1, ,623 19,667 * 2, , , ,086 3, , , , ,418 6,259 7,357 84, ,844 1,786 36, , , , ,930 * 4,638,080 15,516 3, ,322 1,088,980 * 32,086 12,435 7,659 2,421,842 19,646 1,906,666 2,734, ,370 14, ,345,178 * 6,035,353 15, ,m. m 144 2,429,898 * 6,345,319 15,545

208 200 Treasury Bulletin FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I Financial Statements of Government Agencies and Funds Table GAI1. Statements of Financial Condition, September 30, 1977 Continued Account Airport and airway trust fund 21/ (In thousands of dollars) Transportation Department Continued Federal Aviation Administration Continued Memo: All other 26/ Funds transferred from others Funds transferred to others Federal Highway Administration Revolving fund Rightofway revolving fund (TP) Highway trust fund 21/ ASSETS Selected current assets: Fund balances with Treasury: Budget funds... * 229,614 1,482 1,350 1,045,173 13,218 23,059 Budget clearing accounts Deposit funds... 6, Foreign currency funds... Allowances,foreign currency funds() Federal security holdings (at par)... 3,245,981 10,078,687 10,078,687 Accounts receivable: 6,201 11,223 5,818 The public... 7, ,016 Allowances ( ) Advances to: Government agencies... 2,501 1,695 The public... 10, selected current assets... 3,245, ,354 1,485 1,350 11,141,379 13,218 10,107,564 Loans receivable: Repayable in dollars , , ,122 Repayable in foreign currencies... Allowances ( )... «. Inventories: Items for sale Work iniprocess ,981 Raw materials and inventories ,838 Stockpile materials and commodities... Allowances ( )... Real property and equipment: Land... 26,017 1, Structures and facilities ,708 17,680 2,862 Equipment... 1,309,747 16,121 15,994 Leasehold improvements... 1,521 Acquired security, pending disposition.. Allowances ( ) ,773 7,048 7,048 Other assets: Workinprocess, contractors... 4, Materials and supplies oth e r... 20, Other... 20,336 Allowances ()... assets... 3,245,981 3,083,793 1,511 1,350 11,499,795 1,520 10,271,3 j u m h m Selected current liab ilities: Accounts payable: Government agencies... 19, , The public , , ,288 Advances from: Government agencies The public selected current liabilities , , ,341 Deposit fund lia b ilitie s... 6, Unfunded liabilities: Accrued annual leave... 84,113. 8,463 7,848 Other Debt issued under borrowing authority: Borrowings from Treasury... Agency securities outstanding... Other... Other lia b ilitie s... 1, ,122 f. 152,122 lia b ilitie s , , ,312 GOVERNMENT EQUITY Unexpended budget authority: Unobligated... 3,245,981 1,376, ,109,712 1,378 15,316,938 Undelivered orders... 1,088,980 1, ,315,232 96,840 8,652,011 Unfinanced budget authority (): i Unfilled customer orders... 7,659 71,351 16,692 Contract authority... 2,421,842 15,924,089 85,000 14,485,034 Borrowing authority... Invested capital...*... Other equity: 2,734, , ,302 4,379 Receipt account equity... 3,370 3 Unappropriated receipts ( )... Foreign currency fund equity... Government equity... 3,245,981 2,773,854 1, »'5'20» 10,627,338 liabilities and Government equity.. 3,245,981 3,083,793 1,511 1,350 11,499,795 1,520 10,271,3 Footnotes at end of section.

209 March fflwawfilat. OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS.. Section I Financial Statements of Government Agencies and Funds Table GAI1. Statements of Financial Condition, September 30, 1977 Continued Account trust funds (In thousands of dollars) Transportation Department Continued Federal Highway Administration Continued National Highway Traffic Memo: Safety Administration All other Funds transferred from others Funds transferred to others Memo: Funds transferred from others Federal Railroad Administration ASSETS Selected current assets: Fund balances with Treasury: 38, ,063 3 Deposit funds Foreign currency funds... Allowances,foreign currency funds() Federal security holdings (at par) Accounts receivable: Government agencies... 4, ,899 The public... 4, ,404 Allowances () Advances to: 'Government agencies... 1, ,117 1,051 19,775 The public , Budget funds... Budget clearing accounts ,415 1,632 44, , ,675 selected current assets... 47, , ,489 1,833 56,012 2, ,956 Loans receivable: Repayable in dollars... 80,907 Repayable in foreign currencies... Allowances ()... Inventories: Items for sale... Workinprocess... Raw materials and inventories ,363 Stockpile materials and commodities... Allowances ()... Real property and equipment: Land Structures and facilities... 14,818 43,308 Equipment ,925 57,358 Leasehold improvements ,288 Acquired security, pending disposition. Allowances ()... 44,330 Other assets: Workinprocess, contractors Materials and supplies other... Other... 20,095 Allowances ()... assets... 47, , ,497 1,836 59,938 2, LIABILITIES Selected current liabilities: Accounts payable: Government agencies... 1, The public... 41,101 28,279 16,340 2, ,659 Advances from: Government agencies... The public selected current liabilities... 42,854 28,305 16, , ,751 Deposit fund liabilities Unfunded liabilities: Accrued annual leave ,611 1,497 Other... Debt issued under borrowing authority: Borrowings from Treasury... 54,2 Agency securities outstanding... Other... Other liabilities... liabilities... 42,903 29,242 16, , ,380 GOVERNMENT EQUITY Unexpended budget authority: Unobligated , ,329 25, ,101 * 243,528 Undelivered orders , , ,684 1, ,437 2, ,457 Unfinanced budget authority (): Unfilled customer orders... 54, ,463 Contract authority... 1,146, ,968 10, ,992 Borrowing authority... Invested capital , , ,746 Other equity: Receipt account equity... 3 Unappropriated receipts ()... 13,761 Foreign currency fund equity... Government equity.... 4, , ,397 2, liabilities and Government equity.. 47, , ,497 1,836 59,938 2, Footnotes at end of section.

210 202 Treasury Bulletin.FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I Financial Statements of Government Agencies and Funds Table GAI1. Statements of Financial Condition, September 30, 1977 Continued Alaska Railroad revolving fund (PE) Revolving funds (In thousands of dollars) Transportation Department Continued Federal Railroad Administration 'Continued Financing fund, Railroad rehabilitation and improvement (PE) All other Funds transferred from others Memo: Funds transferred to others Urban Mass Transportation Admin. Revolving fund Urban Mass Transportation fund (PE) Selected current assets: Fund balances with Treasury: Budget funds... Budget clearing accounts... Deposit funds... Foreign currency funds... Allowances,foreign currency funds(). Federal security holdings (at par)... Accounts receivable: Government agencies... The public... Allowances ( )... Advances to: Government agencies... The public... selected current assets... Loans receivable: Repayable in dollars..., Repayable in foreign currencies... Allowances ( ).... Inventories: Items for sale.... Work inprocess... Raw materials and inventories... Stockpile materials and commodities..., Allowances ( ).... Real property and equipment: Land... Structures and facilities..., Equipment... Leasehold improvements... Acquired security, pending disposition, Allowances ( )... Other assets: Workinprocess, contractors... Materials and supplies other... Other... Allowances ( ).... assets... LIABILITIES Selected current liabilities: Accounts payable: Government agencies... The public... Advances from: Government agencies... The public... selected current lia b ilitie s... Deposit fund lia b ilitie s... Unfunded liabilities: Accrued annual leave... Other... Debt issued under borrowing authority: Borrowings from Treasury... Agency securities outstanding... Other... Other lia b ilitie s... lia b ilitie s... GOVERNMENT EQUITY Unexpended budget authority: Unobligated Undelivered orders... Unfinanced budget authority (): Unfilled customer orders... Contract authority... Borrowing authority... Invested capital... Other equity: Receipt account equity... Unappropriated receipts ( )... Foreign currency fund equity... Government equity... liabilities and Government equity.. Footnotes at end of section. 10, ,7 7, ,403 6, , ,288 44,330 6, , , ,449 5,754 8, , , ,103 21, , , ,796 62,126 45, , , , , , ,756 80,907 43,308 14, , , ,181 2, ,497 54,2 58, , ,587 83,046 13, , , ,667 3,674 3, ,664 1, ,566 3, , ,185 3,710 6, , ,296 6,076 2, , , , ,920 8,211,605 3,947,358 11,717,990 54, , , ,185 3,710 6, ,073 47,296 6,076 2, , , , ,3 8,211,603 3,947,215 11,717,990 54,

211 March FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS... Account Section I * Financial Statements of Government Agencies and Funds Table GAI1. Statements of Financial Condition, September 30, 1977 Continued (In thousands of dollars) Transportation Department Continued Treasury Department Urban Mass Transportation Administration Con. Revolving fund Office of the Secretary Memo: Revolving funds Saint Lawrence All Seaway other Development Corporation (EE) Funds transferred from others Funds transferred to others ASSETS Selected current assets: Fund balances with Treasury: Budget funds... Budget clearing accounts ,686 10,975,071 85,907 Reconstruction Finance Corporation loans in liquidation (EE) 151, Deposit funds ,659 * Foreign currency funds... 1,385,509 Allowances,foreign currency funds() Federal security holdings (at par)... 2,102, Accounts receivable: Government agencies... 1,481,224 3,343 The public ,022, ,383 Allowances ()... Advances to: Government agencies ,653 The public... 12,108 selected current assets ,644 25,661,820 Loans receivable: Repayable in dollars... 4,049,064 Repayable in foreign currencies... 17,886 Allowances ()... Inventories: Items for sale ,345 2, ,202 14,366 Raw materials and inventories... 13, Stockpile materials and commodities... Allowances ()... Real property and equipment: Land... 6, Structures and facilities , ,344 Equipment... 5, ,574 Leasehold improvements... 4^6 Acquired security, pending disposition. 93 Allowances ()... 27, , Other assets: Workinprocess, contractors Materials and supplies other... 6* Other ) QQ OfO Allowances () assets ,601,1 211,735 2,697 LIABILITIES Selected current liabilities: Accounts payable: Government agencies The public... 7( 7 /*5 808 p m o 7vi I SJL 2,107 Advances from: Government agencies... The public... 14,878 A 9Q1 219 selected current liabilities ,172 10,402,394 3,108 Deposit fund liabilities... *>61 /1 n Unfunded liabilities: Accrued annual leave... 1,379 Other... Debt issued under borrowing authority: Borrowings from Treasury ,476 Agency securities outstanding... Other Other liabilities... " 2,733,731 liabilities ,648 13,830,839 4,487 GOVmENT. EQUITY Unexpended budget authority: Unobligated Undelivered orders ,179 6,829, , ,688 1,244 2,265,307 5,652 Unfinanced budget authority (): Unfilled customer orders... Contract authority... " 4,518 2,257 24,154 Borrowing authority.... 6,200 Invested capital... 14,051 10,768,563 53,154 2,257 Other equity: Receipt account equity... Unappropriated receipts ()... 2,527,960 Foreign currency fund equity... 1,403,502 Government equity ,828 23,771, ,248 2,697 liabilities and Government equity ,821 37,601,1 211,735 2,697 Footnotes at end of section ,257

212 204 Treasury Bulletin Account ASSETS.FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I * Financial Statements of Government Agencies and Funds Table GAI1. Statements of Financial Condition, September 30, 1977 Continued Office of the Secretary Continued Revolving funds Con. Working capital fund (IR) (In thousands of dollars) Treasury Department Continued All other Office of Revenue Sharing Federal Law Enforcement Training Center Memo: Funds transferred to others Selected current assets: Fund balances with Treasury: Budget funds ,176 1,941,815 14,346 21,820 8,558,864 Allowances,foreign currency funds() Federal security holdings (at par)... Accounts receivable: Advances to: 186 g The public ,942,022 1/ 61 Q PI 9OC.J ftp? Loans receivable: Repayable in dollars... Allowances ()... Inventories: Ttems for sale Z.6 Bureau of Government Financial Operations 1,458 42,476 1,385, ,446, ,399 54, Revolving funds Check forgery insurance fund (PE) 1,890 XX y 7/* y 4,046,807 17,886 Raw materials and inventories ,211 Stockpile materials and commodities... Allowances ()... Real property and equipment: Land,... 24,325 2,998 Structures and facilities Equipment C, 0 y 10C\ JJCU 66 1*889 Leasehold improvements Acquired security, pending disposition. Allowances ( )... O JO 1 JLOjKJyy A CiOQ Other assets: Work inprocess, contractors ,065 4,445 Materials and supplies other Other... 6,171,4 31 Allowances ( )... * I I I I assets o m 1,184 <\J( > o? 4 1,942,113 LIABILITIES Selected current liabilities: Accounts payable: Government agencies... The public... Advances from: Government agencies... The public H I ft 7 1, ,710,871 1,890 OQ d o ) 26,268 OO 1 OQ & 70 i L.o rta y un ,14 1 6, selected current liab ilitie s... Deposit fund lia b ilitie s... Unfunded liabilities: 485 2,623 1,711,020 1, ,324 42,476 Accrued annual leave ,338 dsotl 347 Other... 2,479 Debt issued under borrowing authority: Borrowings from Treasury... ~ Agency securities outstanding... ~ Other... ~ ** Other liab ilities lia b ilitie s ,962 X, f J L, OKX 1, Unexpended budget authority: Unobligated ,276 6,376,123 1,890 Undelivered orders... 2 J 5*649 1*342 1 OQJ ,176,592 Unfinanced budget authority (): Unfilled customer orders... Contract authority... Borrowing authority Invested capital... 0*5Q 50,638 im Other equity: 14,860 4,445 9,803,554 Receipt account equity... Unappropriated receipts ()... * 2,383,213 Foreign currency fund equity... I I I I I : Government equity , , liabilities and Government equity.. Footnotes at end of section. 1, ,854 1,942,113 29,824 26,268 22,199,872 1,890

213 March FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I Financial Statements of Government Agencies and Funds Table GAI1. Statements of Financial Condition, September 30, 1977 Continued (In thousands of dollars) Treasury Department Continued Bureau of Government Finanical Operations Continued Revolving funds Con. Memo: Funds transferred from others Miscellaneous All New York Fishermen's loans and other Revolving fund seasonal International protective certain financing 22/ fund (IR) other assets Expansion financial fund (PE) of defense institutions production United States Customs Service ASSETS Selected current assets: Fund balances with Treasury: Budget funds ,3*' 300 2,843 6,254,131 6,237,672 62,226 Budget clearing accounts.... 1,458 14,354 Deposit funds... 42,476 6,933 Foreign currency funds... 1,365,509 Allowances,foreign currency funds() Federal security holdings (at par) Accounts receivable: Government agencies... 4,157 1,441, The public , ,156 54,383 Allowances () Advances to: Government agencies... The public ,130 selected current assets... 2,300,000 7,000 1,495,336 8,146,795 6,237, ,383 Loans receivable: Repayable in dollars ,046,749 28/ 17, Allowances ()... Inventories: Items for sale... Raw materials and inventories... 5,211 Stockpile materials and commodities... Allowances ()... Real property and equipment: Land Structures and facilities Equipment... 25,614 40^500 Leasehold improvements... Acquired security, pending disposition. Allowances ()... 18,099 Other assets: Workinprocess, contractors... Materials and supplies other Other ,742,114^2/ Allowances ()... Toted assets... liabilities JLQQQ,,.,..,5.,.934, Selected current liabilities: Accounts payable: Government agencies The public Advances from: 26,350 Government agencies... 9 The public... selected current liabilities... 11,324 26,350 Deposit fund liabilities... 42,476 6,933 Unfunded liabilities: Accrued annual leave... 2,479 1*7 K,vj/o (Y7A Other... Debt issued under borrowing authority: Borrowings from Treasury... Agency securities outstanding... Other... Other liabilities liabilities GOVERNMENT EQUITY Unexpended budget authority: Unobligated.... 2,300,000 7,000 4,067,233 4,064,965 Undelivered orders... 18,995 2,176,592 2,172,707 Unfinanced budget authority (): 28,451 Unfilled customer orders... Contract authority... " " ~ Borrowing authority... " Invested capital ~ 4,046,749 5,756, Other equity: 5,742,114 27,195 Receipt account equity ,9, ,661 Unappropriated receipts ()... 74,653 Foreign currency fund equity... I 17, I I Government equity.... 2^00,000 7,000 5,984,294 13,849, ,979, liabilities and Government equity ,906, Footnotes at end of section. 4,058 65,680

214 206 Treasury Bulletin. f i NANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND F U N D S Section I Financial Statements of Government Agencies and Funds Table GAI1. Statements of Financial Condition, September 30, 1977 Continued (In thousands of dollars) Treasury Department Continued Bureau of Engraving and Printing Bureau of the Mint Internal Revenue Service Revolving fund Memo: Memo: Account Bureau of Engraving and Printing fund (IR) All other Funds transferred to others Funds transferred to others ASSETS Selected current assets: Fund balances with Treasury: 11,447 11, ,947 28,519 70,567 Allowances,foreign currency funds(). Federal security holdings (at par)... Accounts receivable: Government agencies... 8,580 8, ,688 The public... 3,004 3,004 y 1 8,344,357 Allowances ()... Advances to: Government agencies The public Budget funds... Budget clearing accounts... 12, ,137 22,076 selected current assets... 23,343 23, ,967 1,947 8,625,722 Loans receivable: Repayable in dollars... Repayable in foreign currencies... Allowances ()... Inventories: Items for sale... 11,504 11,504 1,841 7,357 7,357 7,009 Raw materials and inventories... 1,842 1,842 5,148 Stockpile materials and commodities... Allowances ()... Real property and equipment: Land... 1,478 1,478 2,286 1, Structures and facilities... 20,322 6,4 8 13,834 12, Equipment... 49,847 49,847 49, ,477 Leasehold improvements... Acquired security, pending disposition. 93 Allowances ()... 31,546 31,546 17,380 81,499 Other assets: Workinprocess, contractors... 1,485 1, Materials and supplies other... 3,040 3,040 1,956 Other... 3,048 3,048 34,475 Allowances () assets...,500 76,188 15, ,639 3,521 8,750,722 LIABILITIES Selected current liabilities: Accounts payable: Government agencies... 1,557 1, ,562 The public... 14,657 14, , ,246 Advances from: Government agencies... 14,650 14,650 The public ,271,226 selected current liabilities... 30,864 30, ,731 8,504,034 Deposit fund liabilities... 28,519 70,570 Unfunded liabilities: Accrued annual leave... 2,752 94,909 Other... Debt issued under borrowing authority: Borrowings from Treasury... Agency securities outstanding... Other... Other liabilities... 4,242 4,242 58,759 liabilities... 35,106 35, ,002 8,728,272 G g m m w. w m Unexpended budget authority: Unobligated... 6,021 6,021 12,189 1, Undelivered orders... 6,370 6, ,167 28,243 Unfinanced budget authority (): Unfilled customer orders... 24,154 24,154 Contract authority Borrowing authority... Invested capital... 68,157 52,845 15, ,282 1,574 28,668 Other equity: Receipt account equity... Unappropriated receipts ()... : : : 22,076 Foreign currency fund equity... Government equity... 56,394 41,082 15, ,638 3,521 22,449 liabilities and Government equity..,500 76,188 15, ,639 3,521 8,750,722 Footnotes at end of section.

215 March Account.FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I Financial Statements of Government Agencies and Funds Table GAI1. Statements of Financial Condition; September 30, 1977 Continued Revolving fund Federal tax lien revolving fund (PE) (In thousands of dollars) Treasury Department Continued Internal Revenue Service Con. Administrat ive accounts Revenue accounts Comptroller of the Currency (TR) All other 20/ Energy Research and Development Administration Memo: Funds transferred from others ASSETS Selected current assets: Fund balances with Treasury: Budget funds ,403 18, ,305 4,461,708 1,333 Budget clearing accounts... 22,076 48,018 Deposit funds... 4,835 65, ,137 1,672 Foreign currency funds... Allowances,foreign currency funds(). Federal security holdings (at par)... 52,245 2,049,565 Accounts receivable: Government agencies... 7, , ,094 The public ,343,840 21/ 1,415 37, ,946 Allowances ()... 1,033 Advances to: * Government agencies ,000 7,886 The public , , selected current assets ,416 8,428,507 54,139 2,696,402 4,834,257 1,333 Loans receivable: Repayable in dollars... 46,065 Repayable in foreign currencies... Allowances ()... Inventories: Items for sale... Workinprocess... Raw materials and inventories ,176 Stockpile materials and commodities... 8,788,551 Allowances ()... 19,592 Real property and equipment: Land ,540 Structures and facilities ,798,842 Equipment ,477 4,230 47,273 6,652,016 Leasehold improvements... 4, ,599 Acquired security, pending disposition. 93 4,978 Allowances ()... 81,499 1,9 24,093 6,386,981 Other assets: Workinprocess, contractors... 1,561,511 Materials and supplies other... 1,956 1,629 Other ,274 1,290,327 22/ 80,008 Allowances ()... assets... 1, ,552 8,463,170 61,266 4,012,584 20,978*970 1,333 LIABILITIES Selected current liabilities: Accounts payable: Government agencies... 37,562 1,449 7,896 50,521 The public... Advances from: 103,700,546 8,464 71, ,366 Government agencies... The public... 8,271,22622/ 20,343 selected current liabilities ,262 8,362,772 30,256 79, ,887 Deposit fund liabilities... 4,835 65, ,886 1,672 Unfunded liabilities: Accrued annual leave... 94,909 14,099 25,522 Other ,524 Debt issued under borrowing authority: Borrowings from Treasury... Agency securities outstanding... Other... Other liabilities ,558 2,670,121 13,728 liabilities ,208 8,487,065 30,262 3,176,515 1,619,333 GOVERNMENT EQUITY Unexpended budget authority: Unobligated ,878 1, ,958 Undelivered orders... 28,243 14,196 4,147,703 1,333 Unfinanced budget authority (): Unfilled customer orders... 1,183,589 Contract authority... Borrowing authority... Invested capital ,975 23,894 7, ,074 15,414,565 Other equity: Receipt account equity... 22,076 : : 48,018 : Unappropriated receipts ()... Foreign currency fund equity... Government equity f? , ,069 19,359,637 1,333 liabilities and Government equity ,552 8,463,170 61,266 4,012,584 20,978,970 1,333 Footnotes at end of section.

216 208 Treasury Bulletin.FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I Financial Statements of Government Agencies and Funds Table GAI1. Statements of Financial Condition, September 30, 1977 Continued Account Energy Research and Development Administration Con. Memo: Funds transferred to others (In thousands of dollars) Environmental Protection Agency General Services Revolving fund Memo: Administration Certification and other services (PE) All other Funds transferred from others Funds transferred to others ASSETS Selected current assets: Fund balances with Treasury: 23, ,004 Deposit funds ,783 Foreign currency funds... Allowances,foreign currency funds(). Federal security holdings (at par)... 3,830 Accounts receivable: Government agencies.... 4,232 4, ,214 The public... 8, ,848 : 62,759 Allowances ()... ~ Advances to: Government agencies... 43,375 43, ,844 The public ,747 22, ,500 Budget funds... Budget clearing accounts... 4,170, ,169, , ,062 9,179 selected current assets... 23,048 4,250,565 1,432 4,249,133 30,166 10,088 1,263,170 Loans receivable: Repayable in dollars... Repayable in foreign currencies... * ~ Allowances ()... ~ ~ Inventories: Items for sale ,015 Work inprocess ,212 Raw materials and inventories ,995 3,694,1 Stockpile materials and commodities... Allowances ().... Real property and equipment: 3, ,600 22,514 22, ,676,569 Equipment , ,880 2, ,801 Leasehold improvements ,982 Acquired security, pending disposition. Allowances () ,634 Other assets: Workinprocess, contractors... 26, ,612 Materials and supplies other.... 2,237 Other... 35,010 35, ,595 Allowances ()... Land Structures and facilities... 3,845 assets /432. ' 4, 4 2» " ' '39, ,192,603 LIABILITIES Selected current liabilities: Accounts payable: Government agencies ,603 10, ,267 The public... 1,116 1,132, ,131, ,495 Advances from: Government agencies ,171 The public ,195 selected current liabilities... 1,116 1,144, ,143, ,129 Deposit fund liabilities ,783 Unfunded liabilities: Accrued annual leave... 37,963 Other... Debt issued under borrowing authority: Borrowings from Treasury... Agency securities outstanding... * ~ Other Other liabilities ,048,855 liabilities... 1,114 1,145,475 SS4" 1,144, ,976,731 Unexpended budget authority: Unobligated... 4,464 1,674, ,674, , ,831 Undelivered orders... 17,467 12,075, ,075,683 28,578 4, ,471 Unfinanced budget authority (): Unfilled customer orders ,320 Contract authority ,600,000 10,600,000 Borrowing authority... 4,184 Invested capital , ,703 29,018 7,842,614 Other equity: Receipt account equity ,540 Unappropriated receipts ()... Foreign currency fund equity... Government equity... 21,932 3,280, ,279,5 29,332 38,634 8,215,872 liabilities and Government equity.... 4,425,813 1,432 4,424,382 30, L66 39,106 10,192,603 Footnotes at end of section. 54,537

217 March FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I Financial Statements of Government Agencies and Funds Table GAI1. Statements of Financial Condition; September 30, 1977 Continued (In thousands of dollars) General Services Administration *Continued Account Federal buildings fund (IR) Construction services fund (IR) General supply fund (IR) Working capital fund (IR) National Archives gift fund (T) National Archives trust fund (TR) Federal telecommunications fund (IR) ASSETS Selected current assets: Fund balances with Treasury: Budget funds ,879 23, ,566 1, ,587 Budget clearing accounts , Deposit funds Foreign currency funds... Allowances,foreign currency funds() Federal security holdings (at par) ,410 ' Accounts receivable: Goverrweri+f agencies ,645 3,044 57,973 1, ,430 The public ,384 * 1, Allowances () Advances to: Government agencies , ,530 The public ,312 7,390 * 2 * 2,952 selected current assets ,824 26, ,610 2, ,733 80, Loans receivable: Repayable in dollars... Repayable in foreign currencies... Allowances ()... Inventories: Item? f«r pale , ,981 8,790 ~ Raw materials and inventories... Stockpile materials and commodities... Allowances ()... Real property and equipment: Land ,161 Structures and facilities... 2,673,274 Equipment , ,7 3,521 1,135 4,0 Leasehold improvements... 12,935 Acquired security, pending disposition. Allowances () , ,170 2, ,022 Other assets: Workinprocess, contractors ,606 Materials and supplies other , Other ,157 Allowances ()... assets... J Art! 1 C.\Jy(6} 0f\ *79^ Aon D tu,? fo 1 CM J 500 n (,< <.5 o o o LIABILITIES? Selected current liabilities: Accounts payable: Government agencies... 5,683 34, * The public ,437 2, ,781 Advances from: Government agencies ,236 22,954 49, ,963 1,878 The public selected current liabilities ,357 25, ,808 2, ,940 47,476 Deposit fund liabilities... Unfunded liabilities: Accrued annual leave , Other Debt issued under borrowing authority: Borrowings from Treasury.... Agency securities outstanding... Other... Other liabilities ,597 liabilities... 1, , ,993 2, ,940 48,010 gqve^ nt..equity Unexpended budget authority: Unobligated ,621 24,194 7, ,716 31,076 Undelivered orders , , ,629 Unfinanced budget authority (): Unfilled customer orders ,286 22, , Contract authority... Borrowing authority Invested capital... 3,416, ,781 1,149 1, Other equity: Receipt account equity... Unappropriated receipts ()... Foreign currency fund equity... Government equity , ,452 liabilities and Government equity.. 4,881,311 26, ,576 4, ,223 81,461 Footnotes at end of section.

218 210 Treasury Bulletin Account FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND F U N D S... Section I Financial Statements of Government Agencies and Funds Table GAI1. Statements of Financial Condition,' September 30, 1977 Continued (In thousands of dollars) General Services Administration Continued Memo: Automatic data processing fund (IR) Defense production loan guarantees (EE) William Langer Jewel Bearing Plant revolving fund (PE) Liquidation of Virgin Islands Corporation (PE) All other 3A/ Funds transferred from others National Aeronautics and Space Administration ASSETS Selected current assets: Fund balances with Treasury: Budget funds... Budget clearing accounts , , ,500 10,618 51,783 Allowances,foreign currency funds(). Federal security holdings (at par)... Accounts receivable: GoveTnjnent agencies,... 19, Allowances ()... Advances to: Government agencies * ,104 15, ,458 1,093, , , , ,496 The public ,310 selected current assets ,457 2, , ,642 1,840,666 Loans receivable: Repayable in dollars... 2,990 51,547 Repayable in foreign currencies... Allowances ( )... : Inventories: Items for sale Raw Tn&tevi&Ts arid 1 rwe'ntoh es Stockpile materials and commodities... Allowances ( ).... Real property and equipment: ,701 3,694,1 Land ,420 2, ,884 Structures and facilities ,817 2,626,339 Equipment... 61, , ,819,820 Leasehold improvements Acquired security, pending disposition. Allowances ( ) , ,529 Other assets: Workinprocess, contractors , ,487 Materials and supplies other ,394, Other ,323 2,029,168 22/ Allowances ( )... assets... 54,392 2, ,808 4,437, ,305 9,864,878.liabilities Selected current liabilities: Accounts payable: Government agencies... 2,762 The public... Advances from: Government agencies... The public... selected current liabilities... 5, , ,972 3,093 1, ,649 3, , ,329 51,783 Deposit fund lia b ilitie s... Unfunded liabilities: Accrued annual leave... Other... 16,602 Debt issued tinder borrowing authority: Borrowings from Treasury... 99, ,731 3, , ,953 51,937 ~ Agency securities outstanding... Other... ~ Other lia b ilitie s ,259 W Q 01*7 liabilities , ,060,967 GOVERNMENT EQUITY Unexpended budget authority: Unobligated... 26, ,957 2,817 68,768 63, ,895 Undelivered orders... 3, ,728 45, ,365 Unfinanced budget authority ( ) : Unfilled customer orders... Contract authority , ,922 Borrowing authority... Invested capital... 4,184 4,184 12,869 1,355 2,990 3,979, ,663 7,962,490 Other equity: Receipt account equity... Unappropriated receipts ( ) Foreign currency fund equity... I I 129,540 2,085 Government equity... 42, ,763 5,808 4,000, ,8 8,803,1 liabilities and Government equity.. 54, ,812 5,808 4,437, ,305 9,864,878 Footnotes at end of section.

219 March , i FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I Financial Statements of Government Agencies and Funds Table GAI1. Statements of Financial Condition; September 30, 1977 Continued 211 (In thousands of dollars) Veterans Administration Revolving funds Account Loan guaranty revolving fund (PE) Direct lean revolving fund (PE) Canteen service revolving fund (PE) Servicedisabled veterans insurance fund (PE) Veterans1 reopened insurance fund (PE) Veterans Administration education loan fund (EE) ASSETS Selected current assets: Fund balances with Treasury: 4,9, ,003 1,064,807 11,038 9, ,137 4,570 68,802 Allowances,foreign currency funds() Federal security holdings (at par)... 8,922, ,806 Accounts receivable: 159, The public... 6,740 58,857 1, Allowances () ,264 5', Advances to: Government agencies ,012 7,103 78,539 The public... 45, I I selected current assets... 14,346, ,545 1,144,9 11,799 9, ,308 54,137 Loans receivable: Repayable in dollars... 2,627, , ,595 Repayable in foreign currencies... " 20,999 27,653 21,289 Inventories: Items for sale ,131 13, Raw materials and inventories... Stockpile materials and commodities... : Allowances ()... Real property and equipment: Land... 52,119 Structures and facilities... Equipment ,925 15,264 Leasehold improvements... 2,367 Acquired security, pending disposition , , Allowances () dd9ouu oo 15,738 Other assets: 45 5,901 Workinprocess, contractors ,740 Materials and supplies other... 3 z Other , , Allowances ()... 80,558 80,558 assets... 21,229,295 1,459,474 1,671,875 34,522 31, j426 LIABILITIES Selected current liabilities: Accounts payable: Government agencies... 33,436 1,748 3,259 The public.... 1,742,327 41,948 19,067 3,873 2, Advances from: Government agencies The public , ,047 1,848 ~ selected current liabilities... 1,871,169 46,093 21,715 7,151 3,212 2, Deposit fund liabilities ,802 Unfunded liabilities: Accrued annual leave ,9 1,304 Other Debt issued under borrowing authority: Borrowings from Treasury ,730, ,718 1,224,360 Agency securities outstanding... 1,105, , ,740 Other , , ,308 Other liabilities ,771, , ,957 8, , , ,111, ,990 6, ,588 53,801 4,296 Unfinanced budget authority (): Unfilled customer orders... 50,897 Contract authority... " Borrowing authority... " Invested capital... 5,587, , ,838 21, , ,240 Other equity: 21,289 Receipt account equity ,931 Unappropriated receipts ()... Foreign currency fund equity... Government equity... 6,818, , ?.09Q.. liabilities and Government equity.. 21,229,295 1,459,474 1,671, ,025 75,426 liabilities... Unexpended budget authority: 14,410, ,561 1,470,508 GOVERNMENT EQUITY Unobligated... Undelivered orders... 11,610, , ,452 Footnotes at end of section.

220 212 Treasury Bulletin Account.FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I Financial Statements of Government Agencies and Funds Table GAI1. Statements of Financial Condition, September 30, 1977 Continued Vocational rehabilitation revolving fund (PE) (In thousands of dollars) Veterans Administration Continued Veterans1 Administration special therapeutic and rehab ilitation activities func (PE) Revolving funds Continued Veterans special life insurance fund (PE) Rental, maintenance, and repair of quarters (PE) Supply fund (IR) Post Vietnam era veterans assistance program (T) General Post fund, National homes (T) ASSETS Selected current assets: Fund balances with Treasury: Budget funds * 74,511 3,321 6,130 Budget clearing accounts... Deposit funds... Foreign currency funds... Allowances,foreign currency funds() Federal security holdings (at par) ,389 1,475 Accounts receivable: Government agencies... 8,133 17, The p u b lic ,174 1,124 5 Allowances ( )... Advances to: Government agencies The public selected current assets ,373 * 93,795 3,321 7,634 Loans receivable: Repayable in dollars ,036 Repayable in foreign currencies... Allowances ( )... Inventories: Items for sale... 89,379 * Work ini* process Raw materials and inventories... Stockpile materials and commodities.... Allowances ( )... Real property and equipment: Land... Structures and facilities... Equipment ,920 10,983 Leasehold improvements... Acquired security, pending disposition. Allowances ( ) Other assets: Workinprocess, contractors Materials and supplies other... 3 Other Allowances ( )... assets ,431 * 184,250 3,321 18,808 LIABILITIES Selected current liab ilities: Accounts payable: Government agencies... 4, The public ,568 28, Advances from: Government agencies The public... " 12,342 selected current liabilities ,0 33,133 Deposit fund lia b ilitie s Unfunded liabilities: Accrued annual leave Other... Debt issued under borrowing authority: Borrowings from Treasury... Agency securities outstanding... Other... Other lia b ilitie s ,986 lia b ilitie s ,896 34, GOVERNMENT EQUITY Unexpended budget authority: Unobligated ,462 * 8,5 3,321 7,268 Undelivered orders Unfinanced budget authority (): Unfilled customer orders... 50,897 Contract authority... Borrowing authority Invested capital ,927 89,460 11,242 Other equity: Receipt account equity Unappropriated receipts ( )... Foreign currency fund equity... Government equity ,535 * 150,122 3,321 18,527 liabilities and Government equity ,431 * 184,250 3,321 18,808 Footnotes at end of section.

221 M arch FTNANniAT. OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I Financial Statements of Government Agencies and Funds Table GAI1. Statements of Financial Condition, September 30, 1977 Continued (In thousands of dollars) Veterans Administration Continued Memo: Independent agencies Account National service life insurance fund (T) United States Government life insurance fund (T) All other Funds transferred to others Action American Battle Monuments Commission ASSETS Selected current assets: Fund balances with Treasury Budget funds... 12,760 1,824 3,489, ,509,002 76,800 1,239 Budget clearing accounts ,570 1, Deposit funds... 68,802 39,583 8,569 2 Foreign currency funds... 14, Allowances,foreign currency funds() Federal security holdings (at par)... 7,485, ,872 68,060,134 Accounts receivable: Government agencies ,668 7,922 8,684 3,231,427 1,6 The public... 24,580 1,086 20, , Allowances ()... 4,931 Advances to: Government agencies... 14,016 18,233 9,722 The public selected current assets... 7,632, ,704 3,650, ,673, ,829 1,242 Loans receivable* Repayable in dollars... 1,005,543 51,598 1,239 16,510,624 Repayable in foreign currencies... 1,093 Allowances () ,481 Inventories: Items for sale... 10,469 «5,118 Workinprocess... Raw materials and inventories ,017 Stockpile materials and commodities... 1,656 Allowances () Real property and equipment* 52, ,661 4,973 Structures and facilities... 2,398,315 7,759,368 32,186 Equipment... 3,756 2,583,073 8,221 1,567 Leasehold improvements... 2, ,286 Acquired security, pending disposition. 36,574 Allowances ()... 1,772,664 Other assets: Workinproc ess, contractors , ,403 Materials and supplies other... 2, Other ,711 2,676,465 Allowances ()... assets ,638, ,306 7,517, ,289,077 M obilities 157,050 40,064 Selected current liabilities: Accounts payable: Government agencies... 24,014 1,320,159 2, The public ,614 23,867 1,293,417 * 2,664,839 17, Advances from: Government agencies... 11,498 The public... 72,967 1, ,3 selected current liabilities ,581 25,544 1,317,462 4,065,408 19, Deposit fund liabilities... 68,802 39,583 8,569 2 Unfunded liabilities: Accrued annual leave ,692 65,572 2, Other ,000,000 Debt issued under borrowing authority: Borrowings from Treasury ,437 Agency securities outstanding... 6,297,415 Other... 8,713,297 Other liabilities ,030,7 28 liabilities....3,555,1^5. 573,585 1,689,^6 * 188,387,630 30,6>28 ^44 GOVERNMENT EQUITY Unexpended budget authority* Unobligated.... 7,127, ,240 1,657, ,151, Undelivered orders ,256 10,185, , Unfinanced budget authority (): Unfilled customer orders... 12,043 Contract authority... 8,751 Borrowing authority... 25,297,972 Invested capital... 7,156, ,438 3,562, ,295,080 6,147 38,632 Other equity: Receipt account equity ,307 7,920 5, , Unappropriated receipts ()... Foreign currency fund equity... 14, Government equity... 82,909 14,721 5,827, ,098, ,421 39,519 liabilities and Government equity.. 8,638, ,306 7,517, ,289, ,050 40,064 Footnotes at end of section.

222 214 Treasury Bulletin.FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I Financial Statements of Government Agencies and Funds Table GAI1. Statements of Financial Condition; September 30, 1977 Continued Account (In thousands of dollars) Independent agencies Continued Civil Service Commission Revolving fund (IR) Employees1 health benefits fund (TR) Revolving funds Employees1 life insurance fund (TR) Retired employees health benefits fund (TR) Civil Service retirement and disability programs All other ASSETS Selected current assets: Fund balances with Treasury: Budget funds... 25,696 3,339 1,948 1, ,171 21,118 Budget clearing accounts Deposit funds Foreign currency funds... Allowances,foreign currency funds() Federal security holdings (at par)... 52,563, ,162 2,529,802 13,229 49,596,368 Accounts receivable: Government agencies... 1,264,303 5, , , ,529 7,020 The public... 8, , Allowances ()... Advances to: Government agencies... 1, The public , ,100 52,667 1, selected current assets... 54,085,194 9, ,269 2,705,036 15,221 50,588,843 29,237 Loans receivable: Repayable in dollars... Repayable In foreign currencies... Allowances () Inventories: Items for sale... Workin^process... Raw materials and inventories... Stockpile materials and commodities... Allowances ()... Real property and equipment: Land... Structures and facilities... Equipment... 11,253 1, ,017 Leasehold improvements... Acquired security, pending disposition. Allowances ()... 1, Other assets: Workinprocess, contractors... Materials and supplies other.... Other... Allowances ()... assets ,095,362 10, ,286 2,705,036 15,221 50,589,184 38,253 UTILITIES Selected current liabilities: Accounts payable: Government agencies... 71,238 2, ,644 4,567 The public.... 1,102,463 4, , ,044 8,653 Advances from: Government agencies... 2,259 2,259 The public... selected current liabilities... 1,175,960 9, , ,688 13,220 Deposit fund liabilities Unfunded liabilities: Accrued annual leave ,642 5,642 Other ,000, ,000,000 Debt issued under borrowing authority: Borrowings from Treasury... Agency securities outstanding... Other... Other liabilities... 52,392,571 2,704, ,687,496 liabilities ,574,765 9, ,341 2,705, ,589,184 19,454 Unexpended budget authority: Unobligated ,232 3, ,945 14,511 1,975 Undelivered orders... 13, ,485 Unfinanced budget authority (): Unfilled customer orders... 3,612 3,612 Contract authority... Borrowing authority... Invested capital... Other equity: 115,995, ,000,000 3,375 Receipt account equity... Unappropriated receipts () " 34 Foreign currency fund equity... Government equity ,479,403 1, ,945 14, ,000,000 18,800 liabilities and Government equity.. 54,095,362 10, ,286 2,705,036 15,221 50,589,184 38,253 Footnotes at end of section.

223 March FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I Financial Statements of Government Agencies and Funds Table GAI1. Statements of Financial Condition; September 30, 1977 Continued (In thousands of dollars) Independent agencies Continued Civil Service Commission Con. Community Services Administration District Memo: Memo: of Columbia Account Funds Funds transferred transferred from others to others Funds transferred from others Funds transferred to others Revolving fund General funds Loans and repayable advances ASSETS Selected current assets: Fund balances with Treasury: Budget funds... Budget closuring accounts , ,336 14, ,403 Deposit funds Foreign currency funds... Allowances, foreign currency funds (). Federal security holdings (at par)... Accounts receivable: Government agencies , ,128 The public... / 1,856 Allowances ( )... 1,115 Advances to: Government agencies... The public ,051 q Z. selected current assets o^l^j44 ^?/n / ,522 Loans receivable: Repayable in dollars... Repayable in foreign currencies... Allowances ( )... 16,729 7 *5<5/ 1,248,414 Inventories: Items for sale... Raw materials and inventories... Stockpile materials and commodities... Allowances ( )... Real property and equipment: Land... Structures and facilities... Equipment... Leasehold improvements... Acquired security, pending disposition. Allowances ( ) Other assets: Workinprocess, contractors... Materials and supplies other... Other... 1iA Allowances ( )... JOU i on assets...,... 1J.O n d 1 JLL T 831,144 3,340 5o,40o 21,522 1,485,945 LIABILITIES Selected current liabilities: Accounts payable: Government agencies... The public... Advances from: Government agencies Ol 1,572 1 ljulo 1 The public... ~ * 20 selected current liab ilities , ,017 Deposit fund lia b ilitie s... nrn 1/1 Unfunded liabilities: Accrued annual leave... Other... 1,770 Debt issued under borrowing authority: Borrowings from Treasury... Agency securities outstanding... ~ Other... " * " Other lia b ilitie s... ~ liabilities *>7/ GOVERNMENT EQUITY Unexpended budget authority: Unobligated... on n 23 Undelivered orders ,318 47, ,402 3,340 20,505 Unfinanced budget authority (): Unfilled customer orders... Contract authority... Borrowing authority... Invested capital... 1,770 9,331 1,260,764 Other equity: Receipt account equity... 98,778 Unappropriated receipts ()... * Foreign currency fund equity... I I I 1 I Government equity ,570 3,340 56,388 20,505 1,485,945 liabilities and Government equity ,144 3,340 56,4b8 21,522 1,485,945 Footnotes at end of section.

224 216 Treasury Bulletin.FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I Financial Statements of Government Agencies and Funds Table GAI1. Statements of Financial Condition; September 30, 1977 Continued Account (In thousands of dollars) Independent agencies Continued Farm Credit Administration ExportImport Revolving funds Federal Bank of the United States (PE) Revolving Banks for Shortterm fund for administrat ive expenses (PE) cooperatives investment fund (PE) credit investment fund (PE) Deposit Insurance Corporation (TR) Federal Home Loan Bank Board ASSETS Selected current assets: Fund balances with Treasury: Budget funds ,941 2, ,0 111,708 8,852 1,361 Budget clearing accounts... Deposit funds Foreign currency funds... Allowances,foreign currency funds(). Federal security holdings (at par)... 12,600 7,462,458 4,668,325 Accounts receivable: Government agencies ,144 4,986 The public ,978 1,357 1, ,652 89,012 Allowances ()... Advances to: Government agencies... The public selected current assets , ,431 3, ,0 111,708 7,814,106 4,764,0 Loans receivable: Repayable in dollars... 42,522 Repayable in foreign currencies... Allowances ()... 5,033 Inventories: Items for sale... Raw materials and inventories... Stockpile materials and commodities... Allowances ()... Real property and equipment: Land... 10,053 Structures and facilities... 6,452 31,952 Equipment ,139 Leasehold improvements... Acquired security, pending disposition. 10,949 Allowances () Other assets: Workinprocess, contractors... Materials and supplies other... Other... 1,161,582 Allowances ()... assets ^ ,0 111,708 8,982,140 4,857,035 liabilities Selected current liabilities: Accounts payable: Government agencies... 59, ,298 6,229 The public... 53, ,503 Advances from: Government agencies... The public... 2,377 2,377 50,521 selected current liabilities., ,670 3,055 3, , ,253 Deposit fund liabilities Unfunded liabilities: Accrued annual leave... Other Debt issued under borrowing authority: Borrowings from Treasury... 3,323 Agency securities outstanding ,000 Other... 8,531,661 Other liabilities ,162 liabilities... 3,095 3,095 1,158, ,253 toco IT\ J L & L fal Unexpended budget authority: Unobligated... 1,604, ,537 2, ,0 111,708 10,289,808 9,414,008 Undelivered orders... 5,7, Unfinanced budget authority (): Unfilled customer orders... 2,377 2,377 Contract authority... Borrowing authority... 7,266,227 3,000,000 4,755,871 Invested capital... 2,754, ,872 92,944 Other equity: Receipt account equity... Unappropriated receipts ()... = z I I Foreign currency fund equity... Government equity , ,0 111,708 7,823, liabilities and Government equity.. 11,782, ,431 3, ,0 111,708 8,982,140 4,857,035 Footnotes at end of section.

225 March 1978 WTKAMfiiAT. OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I Financial Statements of Government Agencies and Funds Table GAI1. Statements of Financial Condition; September 30, 1977 Continued Federal Savings and Loan Insurance Corporation (EE) (In thousands of dollars) Independent agencies Continued Federal Home Loan Bank Board Continued Revolving funds Revolving fund (PE) Memo; Funds transferred to others All other Harry S. Truman Scholarship Foundation (TR) Revolving funds Memo: Funds transferred to others 217 Interstate Commerce Commission ASSETS Selected current assets: Fund balances with Treasury: Budget funds... Budget clearing accounts... Deposit funds... Foreign currency funds... Allowances,foreign currency funds() Federal security holdings (at par)... Accounts receivable: Government agencies... The public Allowances ( )... Advances to: Government agencies... The public... selected current assets... Loans receivable: Repayable in dollars... Repayable in foreign currencies... Allowances ( )... Inventories: Items for sale... Workinprocess... Raw materials and inventories... Stockpile materials and commodities... Allowances ( )... Real property and equipment: Land... Structures and facilities... Equipment... Leasehold improvements... Acquired security, pending disposition Allowances ( )... Other assets: Workinprocess, contractors... Materials and supplies other... Other... Allowances ( )... assets LIABILITIES Selected current liabilities: Accounts payable: Government agencies... The public... Advances from: Government agencies... The public selected current lia b ilitie s... Deposit fund lia b ilitie s... Unfunded liabilities: Accrued annual leave Other... Debt issued under borrowing authority: Borrowings from Treasury... Agency securities outstanding... Other Other lia b ilitie s... liab ilities... 4,668,325 77,398 4,745,727 42,522 5, , ,793,557 5,031 41,414.3,561, 50, ,986 11, ,163 10,053 31,952 3,109 62,278 1,198 5, ,046 54, ,600 38, ,201 1,201 1,201 1,201 1,201 1,201 31, ,4 31, , , ,522 12, ,3 115,8 4,031 4, ,366 7,644 Unexpended budget authority: Unobligated... Undelivered orders... Unfinanced budget authority (): Unfilled customer orders... Contract authority Borrowing authority... Invested capital... Other equity: Receipt account equity..... Unappropriated receipts ( )... Foreign currency fund equity... Government equity... liabilities and Government equity.. Footnotes at end of section. 5,445, ,000 47,830 4,743, ,968, ,005,871 45,115 8, ,067 1,438 4,184 37,600 37, , , , ,592 1,227 92, , ,8

226 218 Treasury Bulletin.FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I Financial Statements of Government Agencies and Funds Table GAI1. Statements of Financial Condition; September 30, 1977 Continued Account (In thousands of dollars) Independent agencies Continued National Credit Union Administration National Foundation on National Science Foundation Revolving funds the Arts and Humanities Memo Operating fund (PE) Share insurance fund (PE) Memo* Funds transferred from others Funds transferred from others ASSETS Selected current assets: Fund balances with Treasury: Budget funds , ,710 5,895 Budget clearing accounts... Deposit funds Foreign currency funds... Allowances,foreign currency funds () Federal security holdings (at par)... 89,284 89,284 Accounts receivable: Government agencies... 2,494 2,37c 115 3,783 The public... 18,120 2,543 15,577 20, ,311 Allowances ()... 4,579 4,579 Advances to: Government agencies... The public ,731 7,446 1 selected current assets ,409 5, , , ,755 5,896 Loans receivable: Repayable in dollars... Repayable in foreign currencies... Allowances () Inventories: Items for sale... Raw materials and inventories... Stockpile materials and commodities... Allowances ()... Real property and equipment: Land... 1,225 Structures and facilities... 43,232 Equipment ,211 43,714 Leasehold improvements... Acquired security, pending disposition. Allowances () Other assets: Workinprocess, contractors ,974 Materials and supplies other... Other ,221 Allowances ()... assets ,924 6, , , ,154,900 5,896 ^ abilities Selected current liabilities: Accounts payable: Government agencies... 2, , The public... 4,161 1,874 2, ,507 Advances from: Government agencies... The public... 6,360 6,360 selected current liabilities... 13,155 2,128 11, ,508 Deposit fund liabilities Unfunded liabilities: Accrued annual leave ,900 Other... Debt issued under borrowing authority: Borrowings from Treasury... Agency securities outstanding... Other... Other liabilities... liabilities... 13,189 2,162 11,027 1, ,4 Unexpended budget authority: Unobligated ,735 3,2 189,823 9,349 15,923 1,315 Undelivered orders , ,531 4,582 Unfinanced budget authority (): Unfilled customer orders... 2,652 Contract authority... Borrowing authority , ,000 Invested capital ,185 Other equity: Receipt account equity... Unappropriated receipts ()... Foreign currency fund equity... Government equity... 93, , ,987 5,896 liabilities and Government equity.. 106,924 6, , , ,154,900 5,896 Footnotes at end of section.

227 March FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I Financial Statements of Government Agencies and Funds Table GAI1. Statements of Financial Condition, September 30, 1977 Continued (In thousands of dollars) Independent agencies Continued Account U.S. Nuclear Regulatory Commission Pennsylvania Avenue Development corporation Revolving fund Land acquisition and development fund (PE) All other Railroad Retirement Board Memo* Funds transferred from others Securities and Exchange Commission ASSETS Selected current assets: Fund balances with Treasury: Budget funds ,003 4,227 4,227 44,769 5,145 6,299 Budget clearing accounts... * Deposit funds... 6, Foreign currency funds... Allowances,foreign currency funds () Federal security holdings (at par)... 3,,108 Accounts receivable: Government agencies ,678,351 51, The public ,4 Allowances ()... Advances to: Government agencies The public * * 10? 155 selected current assets ,351 4,238 4,238 4,2,884' 56,830 7,267 Loans receivable: Repayable in dollars... Repayable in foreign currencies... " " ~ Allowances () Inventories: Items for sale... Workinprocess... Raw materials and inventories... Stockpile materials and commodities... Allowances ()... Real property and equipment: Land... Structures and facilities... Equipment... 7, ,474 1,679 4,248 Leasehold improvements Acquired security, pending disposition. Allowances ()... 1, , ,732 Other assets: Workinprocess, contractors Materials and supplies other... 1, Other ,614 58,503 Allowances ()... assets ,710 4, ,295 5,145, ,535 9,938 LIABILITIES Selected current liabilities: Accounts payable: Government agencies... 31, ,953 46, The public... 11, ,662 17,898 4,240 Advances from: Government agencies... The public... ~ " selected current liabilities... 42, ,615 63,898 5,143 Deposit fund liabilities... 6, Unfunded liabilities: Accrued annual leave... 4, , ,311 Other... Debt issued under borrowing authority: Borrowings from Treasury... " Agency securities outstanding... Other... Other liabilities... 1,901 " liabilities... 53, ,945 64,4^2 9,121 GOVERNMENT EQUITY Unexpended budget authority: Unobligated... 2,465 29,014 24,985 4,029 4,267,038 46,432 1,000,000 Undelivered orders... 65, ,456 Unfinanced budget authority (): Unfilled customer orders Contract authority... Borrowing authority... 25,000 25,000 1,000,000 Invested capital ,445 98, Other equity: Receipt account equity * Unappropriated receipts ()... Foreign currency fund equity... Government equity... 68,4 4,135 4,135 4,528,256 & ; m. 817 liabilities and Government equity.. 122,710 4, ,295 5,145, ,535 9,938 Footnotes at end of section.

228 220 Treasury Bulletin Account.FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I Financial Statements of Government Agencies and Funds Table GAI1. Statements of Financial Condition, September 30, 1977 Continued (In thousands of dollars) Independent agencies Continued Business loan and investment fund (PE) Disaster loan fund (PE) Small Business Administration Revolving funds Lease guarantee revolving fund (PE) Surety bond guarantee revolving fund (PE) Pollution control equipment contract guarantees revolving fund (PE) ASSETS Selected current assets: Fund balances with Treasury: Deposit funds Foreign currency funds... Allowances,foreign currency funds () Federal security holdings (at par)... Accounts receivable: Government agencies... 34,497 12,461 21, The public , ,518 18, , Allowances ()... Budget funds... Budget dealing accounts , , ,792 2,244 17,677 15,199 22,599 Advances to: Government agencies... 3,243 3, The public... 42,099 41, selected current assets... 1,064, , ,533 2,303 18,847 15,199 24,187 Loans receivable: Repayable in dollars... 3,259,805 1,831,550 1,428,255. Repayable in foreign currencies... Allowances () , ,003 30,795 Inventories: Items for sale... Work inprocess.... Raw materials and inventories... Stockpile materials and commodities... Allowances ()... Real property and equipment: Land... Structures and facilities... Equipment... 6,638 6,638 Leasehold improvements... Acquired security, pending disposition. 25,624 24,185 1, Allowances ()... Other assets: Workinprocess, contractors... Materials and supplies other... Other... 98,835 90,342 8, 311 Allowances ()... assets ,057,025 2,171,926 1,817,364 2,864 18,847 15,199 30,825 im iu L T m Selected current liabilities: Accounts payable: 327, ,638 2,836 3,619 28,961 6,450 15,162 7,144 Advances from: Government agencies... The public , Government agencies... The public ,7 5,459 2, selected current liabilities , , ,462 1,252 18,269 11,019 Deposit fund liabilities Unfunded liabilities: 7,749 Accrued annual leave Other... 7,749 Debt issued under borrowing authority: Borrowings from Treasury , ,528 59,887 Other , ,696 17,843 Other liabilities... Agency securities outstanding... liabilities , , ,252 18,269 19,219 Unexpended budget authority: Unobligated , , ,579 1, ,199 Undelivered orders , ,527 62,492 12,718 Unfinanced budget authority (): Unfilled customer orders... Contract authority... Borrowing authority... Invested capital ,776,480 1,412,242 1,364, ,111 Other equity: Receipt account equity... Unappropriated receipts ()... Foreign currency fund equity... *. Government equity... 3,475,401 1,790,547 1,655,#$.. mm. 11,607 liabilities and Government equity.. 4,057,025 2,171,926 1,817,364 2,864 18,847 15,199 30,825 Footnotes at end of section. All other

229 March Account FTNANf!TAT. OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS» Section I Financial Statements of Government Agencies and Funds Table GAI1. Statements of Financial Condition, September 30, 1977 Continued Smithsonian Institution Memo: w Funds transferred to others (In thousands of dollars) Independent agencies Continued Tennessee Valley Authority (PE) United States Information Agency Revolving fund Informational media guaranty fund (PE) All other Memo: Funds transferred to others ASSETS Selected current assets: Fund balances with Treasury: Deposit funds '35 Foreign currency funds... Allowances,foreign currency funds(). Federal security holdings (at par).... Accounts receivable: Government agencies ,210 1,122 1, The public , Allowances () Budget funds... Budget clearing accounts... 27,135 * 1,8 143,3 61,138 1, ,7 1, Advances to: Government agencies... 2,322. The public ,524 2,524 selected current assets... 29,873 1, ,295 66, , Loans receivable: Repayable in dollars... Repayable in foreign currencies... 1,093 1,093 Allowances ()... Inventories: Items for sale... 5,118 Raw materials and inventories ,541 Stockpile materials and commodities... 1,656 1,656 Allowances () Real property and equipment: Land ,642 2,038 2,038 Structures and facilities... 7,306, , ,857 Equipment... 5,173 2,382,920 54,632 54,632 Leasehold improvements ,032 Acquired security, pending disposition. Allowances ()... 1,763,160 Other assets: Workinprocess, contractors... 59,972 1,373 1,373 Materials and supplies other... Other ,997. Allowances ()... assets ,463 61,949 9,160, , , MPILITIES Selected current liabilities: Accounts payable: Government agencies... 1, , The public ,331 13,898 13,898 Advances from: Government agencies... 8,983 The public selected current liabilities... 2, ,733 14,313 14, Deposit fund liabilities Unfunded liabilities: Accrued annual leave.... 4,026 9,996 9,996 Other Debt issued under borrowing authority: Borrowings from Treasury ,000 22,114 22,114 Agency securities outstanding... 5,705,000 Other... Other liabilities... 6,8 9,174 9,174 liabilities... 6, ,305,815 55,632 31,288 24, Unexpended budget authority: Unobligated... 4, ,293,460 23,383 6,221 17, Undelivered orders... 23, ,764,102 33,100 33, Unfinanced budget authority (): Unfilled customer orders... Contract authority Borrowing authority... 9,145,000 5,874 5,874 Invested capital... 1,564 60,024 2,942, ,364 31, ,652 Other equity: Receipt account equity... * 1,623 1,623 Unappropriated receipts ()... Foreign currency fund equity... Government equity... 28,876 61,756 k,854, ,597 30, , liabilities and Government equity.. 35,463 61,949 9,160, , ,882 v 248 Footnotes at end of section.

230 222 Treasury Bulletin.FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I Financial Statements of Government Agencies and Funds Table GAI1. Statements of Financial Condition, September 30, 1977 Continued (In thousands of dollars) Independent agencies Continued Other Memo* Account United States Railway Association Water Resources Council 28/ Funds transferred from others Funds transferred to others ASSETS Selected current assets: Fund balances with Treasury: Budget funds ,730 5,051 1,070, , Budget clearing accounts... 3 Deposit funds... 21,695 Foreign currency funds... 13,249 Allowances, foreign currency funds () Federal security holdings (at par)... 50,635 Accounts receivable: Government agencies , The public ,598 Allowances () Advances to: Government agencies... 1,316 * The public ,643 selected current assets ,962 5,150 1,160, ,449 Ill Loans receivable: Repayable in dollars ,888 Repayable in foreign currencies... Allowances ()... Inventories: Items for sale... Work inprocess Raw materials and inventories Stockpile materials and commodities... Allowances ()... Real property and equipment: Land Structures and facilities ,223 Equipment ,655 1 Leasehold improvements Acquired security, pending disposition. Allowances ()... 1,562 Other assets: Workinprocess, contractors... Materials and supplies other... 1,205 Other... 1,134, Allowances ().... assets ,890,454 5,278 1,403, ,450 Ill LIABILITIES Selected current liabilities: Accounts payable: Government agencies , The public... 7, ,281 8 Advances from: Government agencies... The public selected current liabilities... 7, , Deposit fund liabilities... 21,695 Unfunded liabilities: Accrued annual leave ,014 Other... Debt issued under borrowing authority: Borrowings from Treasury... Agency securities outstanding... Other ,175 Other liabilities... liabilities , , G Q m M E N T EQTJITY Unexpended budget authority: Unobligated ,371 2, , 2, Undelivered orders... 3,543 2, , ,128 Unfinanced budget authority (): Unfilled customer orders... 3,274 Contract authority... 8,251 Borrowing authority... Invested capital... 1,066, ,943 1 Other equity: Receipt account equity... 62, Unappropriated receipts ()... Foreign currency fund equity Government equity... 1,565,936 4,925 1,312, , liabilities and Government equity.. 1,890,454 5,278 1,403, , Footnotes at end of section.

231 March 1978 FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I Financial Statements of Government Agencies and Funds Table GAI1. Statements of Financial Condition, September 30, 1977 Continued (In thousands of dollars) Offbudget Federal agencies Agriculture Department Treasury Department United States Postal Service (PE) Rural electrification and telephone revolving fund (PE) Rural Telephone Bank (PE) Federal Financing Bank revolving fund (PE) Labor Department Pension Benefit Guaranty Corporation (PE) 223 Housing and Urban Development Department Housing for the elderly or handicapped (PE) Selected current assets: Fund balances with Treasury: Budget funds... Budget clearing accounts... Deposit funds... Foreign currency funds... Allowances,foreign currency funds(). Federal security holdings (at par)... Accounts receivable: Government agencies... The public Allowances ( )... Advances to: Government agencies... The public.... selected current assets... Loans receivable: Repayable in dollars... Repayable in foreign currencies.... Allowances ( ).... Inventories: Items for sale... Work inprocess.... Raw materials and inventories... Stockpile materials and commodities..., Allowances ( ) Real property and equipment: Land... Structures and facilities... Equipment... Leasehold improvements... Acquired security, pending disposition, Allowances ( )... Other assets: Workinprocess, contractors... Materials and supplies other... Other... Allowances ( ).... assets LIABILITIES Selected current liabilities: Accounts payable: Government agencies... The public... Advances from: Government agencies... The public... selected current lia b ilitie s... Deposit fund lia b ilitie s... Unfunded liabilities: Accrued annual leave... Other... Debt issued under borrowing authority: Borrowings from Treasury... Agency securities outstanding... Other Other liab ilities... liab ilities , ,413 62,053 1, ,616 28,784 28,784 1,384,936 1,271,200 4,066 38,205 71, , , , ,081 42,142 88,629 3, ,988 9,223 4,822 10,872 9,094 1,778 4,805 2,347 2,458 8,350 8, ,996,006 1,749, ,682 8, ,779 80, ,179 45,234,162 8,817, ,165 35,418,282^2/ 522,649 22,651 17, , , ,658 2,431,877 2,431,877 1,797,321 1,796, , , ,267,080 1,266, , ,455 43,461 43,461 6,769,357 6,581, ,500 * ~ 501 $8,939,%$ 12,2,712 9,138, ,186 61,654 6^6, il ~ 2,890,055 2,080,596 4, , ,330 " 2 804, ,000 5,000 «. 427, ,507 1,127 9,200 4,248,902 3,427,433 4, ,301 10,190 1,387 28,784 28, , , , , ,778 43,516,646 7,864, ,622 35,418,282 2,528,343 2,431, ,323 7,842 7, ,081 6,4,608 58,474 57,544,616 12,8*$,'246 7,564, ,686 36,2^3,603 *.. " W;471T" 90,869 Unexpended budget authority: Unobligated... Undelivered orders... Unfinanced budget authority (): Unfilled customer orders... Contract authority... Borrowing authority... Invested capital... Other equity: Receipt account equity... Unappropriated receipts ( )... Foreign currency fund equity... Government equity... liabilities and Government equity Footnotes at end of section. 22,399,408 5,517,481 15,063, ,104 1,649,056 2,651, ,363 1,694, ,700 1,137 83,743 26,242,206 7,569,000 1,543, ,632 14,999, ,000 1,596,007 2,586,331 1,029,622 1,122, , , ,850 1,394, ,534 1,273, ,500 3,4# ii6 i, m r. 58,939,362 12,2,712 9,138, ,186 36,287,062 81, ,511

232 224 Treasury Bulletin.FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Footnotes to Table GAI1. * Less than $"00. 18/ Includes assets in use, vessel* ana othet assets held primarily for (PE) Public enterprise revolving funds. mobilization, and vessels held fo* use. (IR) Intragovemmental revolving funds. 19/ Represents depreciation on assets in use and on moblization assets, (TR) Trust revolving funds (T) Trust funds. and allowance for losses on vessels held for scrapping. ]/ Data is shown on a spending agency basis (i.e., the agency that administers the funds rather than the agency that receives the appropria 21/ Includes Department of the Treasury trust fund balances. 20/ Represents inventory in use and in storage. tion) and at the bureau level. The data shown here can easily be 22/ Consists of Assistant Secretary for Policy Development and Research, converted to the "parent agency basis, by utilization of the two memo Office of Interstate Land Sales Registration, and various deposit (nonadd) columns as follows: deduct the amounts shown in the "Funds funds. transferred from others" columns from, and add the amounts shown in 23/ Consists of interestbearing investment of $32 million, and interest the "Funds transferred to others" columns to the bureau or agency of $183 million due on the investment and on borrowings from the totals. Data shown in the "Funds transferred from others" columns Denartment of the Treasury under debt borrowing authority, represents funds which have been appropriated to other agencies, but 24/ Includes special foreign currency program. Office of the Solicitor, are being administered (spent) by the agency shown. Data shown in and departmental operations. the "Funds transferred to others" columns represents funds which have 25/ Includes Employment and Training Administration, LaborManagement been appropriated to the agency shown, but which have been transferred Services Administration, Employment Standards Administration, out to other agencies for them to administer. Occupational Safety and Health Administration, Bureau of Labor 2/ Includes foreign currency assets, representing loans and other Statistics, departmental management, Office of the Secretary, receivables recoverable in foreign currencies in U.S. depositaries, and Office of the Solicitor. aggregating $3,592 million in dollar equivalent. These currencies, 26/ Includes trust fund accounts applicable to activities of the airport acquired without dollar payments, were generated under various Government programs, principally the Agricultural Trade Development and assets applicable to these activities cannot be segregated from and airway trust fund and the highway trust fund. Certain noncurrent Assistance Act of 1954, as amended, and the Mutual Security Acts, as noncurrent assets of the general fund. amended. Dollar equivalents are computed for reporting purposes to 27/ Includes foreign currencies; deposit, general, and trust funds; and provide a common denominator for the currencies of the many countries funds transferred from others. involved. Foreign currencies on hand and on deposit and loans under 28/ Consists of lendlease and surplus property balances amounting to section 104 (e) of the Agricultural Trade Development and Assistance $1,362 million, and receivables from Greece, Turkey, and the United Act of 1954, as amended, are stated at the rates as of Sept. 30, 1977, Kingdom amounting to $12 million, $114 million, and $2,558 million, at which the U.S. could purchase currencies on the market for regular respectively. operating purposes. Other loans are stated at the rates at which they 22/ Represents investment in the Asian Development Bank, InterAmerican are to be repaid or at rates in effect when the loans were extended. Development Bank, International Bank for Reconstruction and Development, International Development Association, and the International Currencies that are dollar denominated or guaranteed as to rate of exchange are stated at rates specified in the agreements. Finance Corporation amounting to $192 million, $2,088 million, 2/ Includes collections of principal turned over to the Government $648 million, $2,778 million, and $35 million, respectively. National Mortgage Association participation sales fund and held for 30/ Includes Bureau of Alcohol, Tobacco and Firearms; Bureau of Public redemption of participation certificates. Debt; Exchange Stabilization Fund; U.S. Secret Service; deposit 4/ Consists of invested capital, unexpended budget authority, and unfinanced budget authority. Figures for each of these amounts were 31/ Estimated losses amount to $1,418 million. funds; and clearing accounts. not shown separately on the report submitted by the fund. 22/ Includes Exchange Stabilization Fund special drawing rights of 5/ Includes funds transferred from others. $2,489 million, less special drawing rights certificates of 6/ Consists of the White House Office salaries and expenses, Executive $1,200 million. Residence, Official Residence of the Vice President, Special Assistance to the President, Council of Economic Advisers, Council on $161,982 million less clearance accountability of $153,711 million. 33/ Represents advance payments, unapplied withholdings and credits of Environmental Quality and Office of Environmental Quality, Council 24/ Includes strategic and critical materials and funds transferred on International Economic Policy, Council on Wage and Price Stability, from others. Domestic Council, National Security Council, Office of Science and 35/ Includes contractorheld property amounting to $1,776 million. Technology Policy, Office of the Special Representative for Trade 36/ Includes an accountable advance of $181 million for transfer of Negotiations, Office of Telecommunications Policy and Office of Drug silver to the strategic and critical materials inventories. The Abuse Policy. value of this silver is included in inventory and other assets. 2/ Includes Indochina post war reconstruction assistance, international 37/ Includes the John F. Kennedy Center for the Performing Arts, and narcotics control assistance, and general funds for contingencies. the National Gallery of Art. 8/ Represents the Cooley loan program established pursuant to the Agricultural Trade Development and Assistance Act of 1954, as amended Committee on Federal Pay, Advisory Council on Historic Preservation, 38/ Consists of Administrative Conference of the United States, Advisory (7 U.S.C (e)). Arms Control and Disarmament Agency, Board for International Broadcasting, cabinet Commit bee on Opportunities for SpanishSpeaking 2/ Consists of contingency fund, interameriean social and economic program, and supporting assistance loans. People, Civil Aeronautics Board, Commission of Fine Arts, Commission 10/ Includes the insurance and guaranty reserve fund. on Civil Rights, Committee for Purchase from the Blind and Other 11/ Consists of economic stabilization activities, expenses of management Severely Handicapped, Commodity Futures Trading Commission, Consumer improvement, naval petroleum reserve strategic petroleum storage, Product Safety Commission, Emergency Loan Guarantee Board, Equal emergency migration and refugee assistance, and unanticipated needs. Employment Opportunity Commission, Federal Communications Commission, 12/ Includes administrative and operating expenses funds. Federal Election Commission, Federal Energy Administration, Federal 12/ Includes a special fund amounting to $10 million, and funds transferred from others. Federal Power Commission, Federal Trade Commission, Foreign Claims Maritime Commission, Federal Mediation and Conciliation Service, 14/ Participation certificates, shown In the liability section of this Settlement Commission, JapanUnited States Friendship Commission, statement as agency securities outstanding, have been issued against American Revolution Bicentennial Administration, other historical certain of these loans under trust agreements with the Government and memorial commissions, Indian Claims Commission, intergovernmental agencies, international Trade Commission, Legal Services National Mortgage Association participation sales fund. 15/ Consists of Office of the Secretary, Office of Information, Office of Corporation, Marine Mammal Commission, National Capitol Planning the Inspector General, departmental administration, National Agricultural Library, Statistical Reporting Service, Economic Research Life, National Commission on Libraries and Information Science, Commission, National Center for Productivity and Quality of Working Service, Packers and Stockyards Administration, Farmer Cooperative National Labor Relations Board, National Mediation Board, National Service, Rural Development Service, and Rural Electrification Transportation Safety Board, Occupational Safety and Health Review Administration salaries and expenses. Commission, Renegotation Board, Selective Service System, temporaiy 1 / Includes United States Travel Service, Patent and Trademark 'Office, study commissions, and funds transferred from others. National Fire Prevention and Control Administration. 22/ Includes $2,181 million advanced to offbudget Federal agencies. 12/ Excludes property such as land, structures, and equipment for Air Force, Source: Bureau of Government Financial Operations. Based on annual of $8,364million. Amounts excluded for other Defense Department agencies and semiannual reports received from agencies pursuant to Treasury were not identified. Circular No. 966, Revised.

233 March FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section II Federal Credit Programs Table GAII1. Direct Sales and Repurchases of Loans Fiscal year or month ExportImport Bank of the United States (In millions of dollars) Housing and Urban Development Department Farmers Home Administration Government National Mortgage Association Office of Secretary 1/ Small Business Administration Veterans Administration Sales Sales Sales Sales Sales Sales Sales Repurchases Repurchases Repurchases Repurchases Repurchases Repurchases Repurchases , * 6 * , , * , , , , , , , ,903 1, ,172 1,105 1, ,829 1, ,415 1,524 1, ,666 1, ,247 1,148 6,963 * T.Q... 2, , , ,895 2,121 5,445 2,083 2, Jan... 1, , Feb L 1 4 Mar Apr May June * 13 3 July Aug... 1, * Oct Nov Dec Jan... 2,120 1,324 2,086 1, / Includes college housing, elderly housing, and public facility loans. * Less than $500,00X3.

234 226.CUMULATIVE TABLE OF CONTENTS April 1977 through March 1978 Treasury Bulletin Issues and page numbers Sections Apr. May j June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Article; ' Treasury financing operations... VI VI VI VI VI VI VI VI VI VI VI VI Federal fiscal operations: Investment transactions of Government accounts in Summary of internal revenue collections by States Federal obligations Account of the U.S. Treasury: Analysis of changes in tax and loan account balances Monetary statistics: Federal debt: Computed interest charge and computed interest rate Maturity distribution and average length of market interestbearing securities issued by Government Debt subject to statutory limitation Status and application of statutory limitation Treasury holdings of securities issued by Government corporations and other agencies Description of securities of Government corporations and other businesstype activities held by the Public debt operations: Maturity schedule of interestbearing public marketable securities other than regular weekly and 52week ' New money financing through regular weekly Treasury bills B Offerings of public marketable securities other than Unmatured marketable securities issued at a premium or discount other than advance refunding operations Allotments by investor classes on subscription for Disposition of public marketable securities other Foreign series securities (nonmarketable,) issued to official institutions of foreign countries Foreign currency series securities (nonmarketable) issued to official institutions of foreign United States savinss bonds: Sales and redemptions by series, cumulative Sales and redemptions by periods, all series Sales and redemptions by periods, Series E through K Redemptions of matured and unmatured saving bonds Sales and redemptions by denominations, Series E and H combined Sales by States, Series E and H combined United States.savings notes* Ownership of Federal securities: Distribution by classes of investors and types of bo Estimated ownership by private investors Treasury survey of ownership Treasury survey commercial bank ownership