UNITED STATES TREASURY DEPARTMENT

Transcription

1 Treasury Bulletin January 97 UNITED STATES TREASURY DEPARTMENT OFFICE OF THE SECRETARY

2 The Treasury Bulletin is for sale by the Superintendent of Documents, U.S. Government Printing Office, Washington, D.C Subscription per year $3.50 domestic, $7.00 foreign. Single copy price varies.

3 January 97 CONTENTS Treasury financing operations... II Federal fiscal operations... Federal obligations... 2 Account o f the Treasurer of the United States... 6 Monetary statistics... 9 Federal debt Public debt operations United States savings bonds United States savings notes Ownership of Federal securities Treasury survey of ownership Market quotations on Treasury securities Average yields of longterm bonds Exchange Stabilization F u n d International financial statistics Capital movements Financial operations of Government agencies and funds Cumulative table of contents Note: Details of figures may not add to totals because o f rounding.

4 II Treasury Bulletin Treasury Financing Operations 9Month and Oneyear bills Treasury Bills General Ctn December 5 tenders were invited for $500 million, or thereabouts, of 273day Treasury bills, representing an additional amount of bills dated September 30, 970, maturing September 30, 97, and for $.2 billion, or thereabouts, of 365day Treasury bills to be dated December 3, 970, to mature December 3, 97, both series to be issued December 3. These issues were to refund $,502 million of bills maturing December 3. December 23, Tenders were opened on Tenders received for the 273day bills totaled $,404 million, of which $50 million was accepted, including $9 million of noncompetitive tenders. The average bank discount rate was percent. Tenders received for the 365day bills totaled $2,952 million, of which $,20 million was accepted, including $40 million of noncompetitive tenders. The average bank: discount rate was 4.#86 percent. 3week and 26week bills Issues of regular weekly Treasury bills in December totaled $6.5 billion, replacing $5.5 billion of maturing bills. There were five 9day issues of $.9 billion and five 82day issues of $.4 billion.' Average rates for the new issues are shown in the following table. 3week (Additional amount of bills of original maturity of 26 weeks) Additional issue Date of Original issue Approximate equivalent annual average rate / Date of issue week Approximate equivalent annual average rate l/ Dec. 3 Sept Dec Oct Treasury bills are sold on a bid basis. is payable without interest at maturity. The face amount They are issued in bearer form only, and in denominations of $0,000, $5,000, $50,000, $00,000, $500,000, and $,000,000 (maturity val ue). 2/ Tenders are received at Federal Reserve banks and branches. Each tender must be for a minimum of $0,000. Tenders over $0,000 must be in multiples of $5,000. Banking institutions generally may submit tenders for account of customers. Tenders may be made without deposit by incorporated banks and trust companies and by responsible and recognized dealers in investment securities. Tenders from others must be accompanied by payment of 2 percent of the face amount of bills applied for, unless the tenders are accompanied by an express guaranty of payment by an incorporated bank or trust company. Noncompetitive tenders (without stated price), usually for $200,000 or less from any one bidder, are accepted in full at the average price of accepted competitive bids for an issue. Payment for accepted tenders must be made or completed on the date of issue, in cash or other immediately available funds or in a like face amount of Treasury bills maturing on that date. Payment for 3week, 26week, 9month, and one year bills may not be made by credit in Treasury tax and loan accounts. Foreign Series and Foreign Currency Series Foreign series securities issued in December totaled $340 million, consisting of seven certificates of indebtedness and one note. Redemptions for the month totaled $646 million. At the end of December foreign series securities outstanding totaled $4,33 million. (Details are shown on page 57.) No foreign currency series securities were issued or redeemed in December. At the end of December foreign currency series securities outstanding totaled an equivalent of $,366 million and were denominated in German marks and Swiss francs. (Details are shown on page 59.) Note: Details of Treasury market financing operations are shown elsewhere in tables on public debt operations. i J Bank discount basis. 2/ The $5,000 denomination is not available for bills with issue dates prior to March 970, but denominations of $,000 and $5,000 are available for such bills.

5 January 97 _ FEDERAL FISCAL OPERATIONS Table FFO. Summary of Fiscal Operations Fiscal year or month Budget receipts, expenditures, and lending The expenditure account Loan account l/ Net receipts 2/ Net expenditures 3/ Surplus or deficit () ( ) (2) (3) Loan disbursements Loan repayments (in millions of dollars) Net lending 3/ (4)+(5) (6) Outlays 3/ (2)(6) (7) Budget surplus or deficit () (3)+(6) (8) Public debt securities Means of financing net transactions Borrowings from the public Federal securities Agency securities Investments of Government accounts 4/ Special notes 5/ borrowings from the public (9)+(0) ( )(2 ) (3) (l) (2) (4) (5) (9) (0) () (2) ,389 96,597 2,208 7,869 6,67,98 97,795 3,4o6 2, , ,676 04,462 4,786 9,62 7,27 2,35 06,83 7,37 9,230, , ,560,456 4,896 9,646 9,79 45,3 4,75 7,659 96, , ,662 8,039 5,377 0,237 9, ,584 5,922 5, , , ,833 7, ,9 9,662,249 8,430,596 5, , ,06l ,856 30, ,628 0,796 3,832 34,652 3,796 2,633.4,04l 3, , ^9,552 53,20 3,649 7,676 2,623 5,053 58,254 8,702 6,34 5,079 9, , ,67 72,802 9,3 20,327 4,297 6,030 78,833 25,6 2,357 5,944 5,320,9 23, ,784 83,072 4,72 3,67,69,476 84,548 3,236 6,42 0,50 8,522,384, ,743 94,460 r70 8,344 6,25 2,28 96,588 2 j845 7,98,739 0,062 5, (Est. ),,, 202,03 200,088 2,04 8,6o4 7, ,77,33 8, ,969, Nov... 4,337r 5,244r 906r r 237r 5,48lr l,43r 3, _ 2,694r Dec... 6,709 5,237, ,097, ,04 2,02 970Jan... 6,297 6, , Feb... 4,938 4, ,894 43, Mar... 3,9 6,294 3, ,548 3,429 3, ,34 Apr... 22,029 7,844 4, ,043 3,986 4, ,69 May... 3,982 6,333 2, ,44 2,459 3, ,64,452 June... 22,56 5,367 7,690, ,35 7, ,827 3,56 July... 2,609 4,87 6, ,327 6,78 5, _ 5,997 Aug... 5,72 7,429 2, ,495 2,323 4,333 3,65 2,76 Sept... 8,725 7,329, ,443,28 2, ,347 Oct...,493 7,490 5, ,640 6,47,522 7,056 2,56 Nov... 4,34 6,66 2, ,728 2,594 3, ,306 Fiscal 97 to date... 72,33 88,208 6,075 3,053 2, ,633 6,500 2, ,233 Fiscal year or month Means of financing net transactions (continued) Changes in cash and monetary assets Within gen'l. acct. of Treasurer, U.S. 6/ (deduct) (4) With other Government officers (deduct) SDR's 7/ (5),385 3,734,876,264, ,57, , Other With International Monetary Fund (deduct) Other means of financing 8/ (6 ) (7) (8 ) i , , ,07 88, , Selected balances, end of period Trans Federal securities actions budget General not applied financing Treasurer, ment of account of Invest Public Agency to year's surplus or (3 ) (4) debt securities U.S. 6/ Government deficit 0/ ( 5 )(6 ) securities / accounts (9) l , (7)+(8) + (9) (20) (2 ) 3,4o6 7,37 4,75 5,922,596 3,796 8,702 25,6 3,236 2,845 6,77 0,504 2,380,6 2,70 2,450 7,879 6,785 7,544 9,29 (22) 288,97 298,20 305,860 3,73 37,274 39, ,22 347, , ,99 (23) 6,477 7,927 8,23 8,63 9,335 3,377 8,455 24,399 4,249 2,50 Special notes / (24) (25) 97 (Est.) io,33 7,544 37,22 2,206 05, , Nov... Dec Jan... Feb... Mar.... Apr... May... June.... July... Aug... Sept... Oct... Nov...,008,95, ,660 2, ,692 2, r r ,53 < y ,284 33,289 30, , , l,43r, ,429 3,986 2,459 7,20 6,78 2,323,28 6,47 2,594 7,436 6,24 7,593 7,649 7,875 8,495 6,834 9,29 8,074 7,982 9,674 7,62 6, ,2 368, , , , ,94 37, ,99 376, ,90 378, , ,640 3,905 3,820 3,755 2,966 2,987 2,948 2,670 2,50 2,472 2,469 2,482 2,465 2,460 54,29 54,98 56,345 59,20 6,540 64,784 73,89 79,l4o 87,66 97,723 89,886 9,927 9,402 92,027 92,894 92,732 94,896 97,723 97,337 98,952 98,089 97,032 97,6 2,554 2,837 3,76 3,58 3,455 3,80 3,328 2, Held by the public (22)+(23) (24)(25) (26) 238, , ,46 257,553 26l,6l4 264, , , , ,880 29, , ,00 288,96 29, , , , , , , , ,3 Fiscal 97 to date... 2, ,500 6, ,640 2,460 97, ,3 Source: Based on monthly statement of receipts and expenditures of the Government. The loan account data for fiscal years and all estimates are from the 97 Budget document released February 2, 970. Later estimates, released May 9, 970 in the "Revision of the Fiscal Year 970 and 97 Budget Estimates" showed fiscal 97 receipts $204.3 billion, outlays $205.6 billion and a $.3 billion deficit. / Includes investments in nonfederal securities. 2/ See Table FF02. 3/ See Table.FF03 %] See Table FF06. 5/ Represents noninterest bearing public debt securities issued to the IMF and international lending organizations (IDA. and IADB) in recognition of U.S. Government subscription commitments. 6/ Current fiscal year to date transactions are on the daily Treasury statement 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 FF08 in December 970 Bulletin. 7/ Represents holdings of Special Drawing Rights, less certificates issued to Federal Reserve Banks. 8/ Includes accrued interest payable on public debt securities, deposit funds, and miscellaneous liability and asset accounts. 9/ Includes initial allocation of Special Drawing Rights of $867 million. 0/ Includes seigniorage, fiscal 969 conversion of certain corporations to private ownership, and fiscal 970 reclassification of' certificates of interest of $,590 million less $7 million investments held by Government accounts. / See Table FD6. r Revised.

6 2 Treasury bulletin FlT.nttRAT. FISCAL OPERATIONS Table FFO2. Budget Receipts by Principal Sources (in millions of dollars) Income taxes Fiscal year or month Net budget receipts Individual Withheld Other Refunds Corporation Net total Gross Refunds Net total Net total income taxes ,389 32,978 3,75 4,85 4,338 2, ,954 62, ,676 36,246 4,403 5,079 45,57 2, ,523 66, ,560 38,79 4,269 5,400 47,588 22, ,579 69, ,662 39,259 5,33 5,893 48,697 24, ,493 72, ,833 36,840 6,820 4,869 48,792 26, ,46 74, ,856 42,8 8,486 5,85 55,446 30, ,073 85, ,552 50,52 8,850 7,845 6,526 34, ,97 95, ,67 57,30 20,95 9,527 68,726 29,897,232 28,665 97, ,784 70,82 27,258 0,9 87,249 38,338,660 36,678 23, ,743 77,46 26,236 3,240 90,42 35,037 2,208 32,829 23,24 97 (Est.) ,03 77,000 28,000 4,000 9,000 37,000 2,000 35,000 26,000 4,337r 7,5r ,242r 778 4U 634 7,877r 6,709 6, ,774 5, ,527 2,30 970Jan... 6,297 6,203 4, ,660,252 25,27,786 Feb... 4,938 7, ,456 6, ,6 3,9 6,09,235 3,907 3,49 4, ,239 7,658 22,029 5,748 8,992 4,039 0,70 4, ,578 5,279 3,982 7,058,063 2,863 5, ,972 22,56 6,04 3, ,353 7, ,329 6,683 Fiscal 97 to date... 2,609 6, ,28, ,9 5,72 6, , ,703 8,725 5,907 3, ,449 4, ,278 3,727,493 5, ,0, ,779 4,34 7, , ,705 72,33 3,607 5, ,240 8,080,287 6,793 43,033 Fiscal year or month Oldage, disability, and hospital insurance Gross Refunds Social insurance taxes and contributions Employment taxes and contributions Net total Railroad retirement accounts Gross Refunds Net total Net total Gross Unemployment insurance Refunds Net total , ,09 57 * 57 2,679 2, , , , * 564 2,835 3, , , , * 572 4,746 4,5 3 4, , , * 593 6,959 4, , , , * 636 7,359 3, , , , * ,662 3, , , , * ,823 3, , , , l4 29,224 3,35 6 3, , , * ,236 3, , , , ,33 3,47 6 3, (Est.)... 42, ,79,05,05 42,842 3, ,335 3,396 3,396 5 * 5 3, * 343,849, * 68,97 59 * Jan... 2,276 _ 2,276 4 * 4 2, Feb... 4,25 4,25 48 * 48 4, * 842 3,070 3,070 8 * 8 3,5 64 * 63 3,97 3,97 * 3, * 233 5, , * 54 4, ,334 3, * 87 3, July... 2,736 _ 2, , Aug... 4,387 4, * 07 4, * 587 2,559 2, * 87 2, ,304 2, , ,30 3,30 I , * 374 Fiscal 97 5,297 5, * 374 5,67,300 2,298 (Continued on following page)

7 January 97 3 _ FEDERAL FISCAL OPERATIONS _ Table FFO2. Budget Receipts by Principal Sources (Continued) Social insurance taxes and contributions (continued) (in millions of dollars) Excise taxes Contributions for other Miscellaneous excise taxes Highway trust fund i'lcu \ju Oa#.L social Fiscal year or month Federal insurance Supplemental employees employees contri Gross Refunds total Gross Refunds total Federal Other taxes and Net Net Medical retirement retirement butions Insurance ,+38 9,l4l 78 9,063 2, , ,06 9, ,585 3, , , I+6 9,804 0, ,95 3, , _ 993 5,008 22,02 0, ,2 3, , _,065 6,08 22,258,0 99 0,9 3, , _, 8,29 25,567 9, ,45 4, , ,20 9,867 33,349 9, ,278 4, , ,33^ 20 2,052 34,622 9, ,700 4, , ,+26 2l+ 2,353 39,98 0, ,585 4, , , ,70 45,298 0, ,352 5, , (Est.)...,242, ,93 *9,08 2,20 ll+2 2,059 5, ,46 969Nov l86r 4,077r,00 9r Dec ll+ 2, Jan I+ 2, _ 408 Feb , Mar , Apr , May , June , July ll , _ 464 Aug ll , Sept , ll Oct , Nov ,08,022, Fiscal 97 to date ,32 8,28 4, ,99 2, ,370 Excise taxes(continued Estate and gift taxes Customs duties Miscellaneous receipts Fiscal year or month Airport and airway trust fund Net total excise taxes Gross Refunds Net total Gross Refunds Net total Deposits of earnings by Federal Reserve banks All other Net total miscellaneous receipts _,860,96 20,896, ,534 2, ,06,7 29, ,94 2, ,67,24 35, , ,73 2,4i6 23 2,394,284 32, , ,570 2, ,76,478 35,442, ,59* ,062 3, ,066,8 45,767,73 62, ,79 3, ,978,972 7,90, , ,079 3, ,05 2,3 75 2,038 2, , ,222 3, ,49 2, ,39 2, , ,705 3, ,644 2, ,430 3, , (Est.)... 7,520 3,640 4o 3,600 2, ,260 3, ,64 969Nov... _,607i r 270r Dec..., Jan... _, Feb..., Mar..., Apr..., May..., June..., July... 29,^ Aug... 43, , , Nov... 55, Fiscal 97 to date ,805,272 2,252,23 27,096, ^66 Source: Beginning fiscal 967 actual figures are from the monthly statement of receipts and expenditures of the Government. Data for prior years were derived on basis of the unified budget concepts adopted January 968. Estimates are from the 97 Budget document released Februaiy 2, 970. Revised. Less than $500,000.

8 BUDGET RECEIPTS BY PRINCIPAL SOURCES $Bil T o t a l Fiscal Year Comparison first 5. months fiscal years. 970 and n m I p Individual I n c o m e T a x e s Social Insurance Ta x e s M O W W $ GO O O ** H W > I o z co I b a * Source: Monthly Statement of Receipts and Expenditures of the U.S. Government. For actual amounts see preceding Table FFO2. / Includes estate and gift taxes, custom duties, and miscellaneous receipts. 5 a*

9 January 97 5 _ F E D E R A L FISCAL O P E R A T IO N S _ Table FFO3. Budget Outlays by Agencies (In millions of dollars) Fiscal year or month Legislative Branch The Judiciary Executive Office of the President Net expenditures Funds appropriated to the President Net lending Net expenditures Agriculture Department Net lending Net expenditures Commerce Department Net lending ,566. _,566 5, ,384 3, , ,80,80 5, ,294 3, , ,20 3,20 6, ,333 3, , ,694 3,694 7, ,458 4, , , ,889 6, ,795 4, , , ,385 5, ,53 4, , ,85 2 4,872 5, , , ,93 6, , ,97 4 4,967 7, , , ,774 7, , , (Est.) ,87 3 4,84 8, , ,04 969Nov r * 36?r 7 H Dec Jan Feb * Mar * Apr May June July * 407 2, , Aug * 366,56 24, * 72 Sept H Oct ,063 94, Nov Fiscal 97, ta ,70 3,697 5, , Fiscal year or month Net expenditures Defense Department Military Net lending Civil / Health, Education, and Welfare Department Net expenditures Net lending 2/ Housing and Urban Development Department Net expenditures Net lending Interior Department Net expenditures Net lending Justice Department ,738 * 44,738 9S0 3,680 3, ,30 * 48, , , , , ,40,03 20, , , ,573,30 2, , ,968 45,969,2 22, , ,66 54,67,278 27, , ,28 2, ,453 * 67,453,30 34, , ,05 2, , ,373,300 40, , ,434 4, , ,870,268 46, , , ,50 77,50,2 52, ,338, ,603,36, (Est.)... 7,90 7,9,4 59, ,653 2, , Nov... 6,074? * 6,074r 96r 3, , *r 06 40r Dec... 6,584 * 6, ,25 2 4, * Jan... 6,49 * 6, , , Feb... 5,952 * 5, ,08 2 4, * Mar... 6,377 * 6, ,38 6 4, * 8 52 Apr... 6,532 * 6, , , May,... 6,85 * 6, , , June ,635 6, ,95 4, July... 6,570 * 6, , , * Aug... 6,059 * 6, , , * Sept... 6,60 * 6, , , Oct... 6,39 * 6, , , Nov... 5,85 5, , , * 6 69 Fiscal 97, to date... 30,780 _* 30, , , , Footnotes at end of table. (Continued on following page)

10 6 Treasury Bulletin FEDERAL FISCAL OPERATIONS _ Table FFO3. Budget Outlays by Agencies (Continued) (in millions of dollars) Fiscal year or month Labor Department 2/ Treasury Department General Services Admin. Net lending State ment Transportation Department 3/ Net expenditures Interest on public debt V Other 5/ Net lending Net expenditures expenditures Post Office Department Atomic Energy Commission Net lending _ 83 9^ 25I* 633 8,957 5,87 *5 2l*,78* 2,73 2*0 * 2* * 693 9,20 7, ,638 2, *+,53 *, * , ,7*5 2, k... M M * i*,oi*i* 578 3*7 7l*2 0, ,552 2, ,532 3, * 785,346 88,*33 2, ,09 3, * ,04 *5 2 2,*27 2,* * ,72 Ill* 3,286,* *9 5,*28 3, * 3,06* 2,26* ,385 * 3,27,080 k2k 5,732 4, * ll*,655 2,*66 *2 * ,^75 3,* *37 5,970/ 6, * 6,92* 2,*50 *20 5 * ^,356 ^,356,50 +*8 6,*7 9, * 9,50 2,*53 *26 20 **6 97 (Est.)... 5,563 5, *73 7,0*8 / 9, * 9,066 2,* Nov _ l*,585 96r *r,680] 78 28r 7r 3* Dec ,653 00, *2 * *3 970Jan... *3 _ *3 09 *5 539,67 2 *, *5 2 *3 Feb... *26 * *27, *, * 30 Mar *63,699 2 *, Apr U69 35 *2 *39, *, May... *7 * *56,60 82 *, * 50 June ,764 2 *, July... *56 _ * *97, *, Aug , *, *8 Sept... l+2l+ k2k , *, Oct... *79 * , *,26* 20 *3 8 3* Nov , *, Fiscal 97 to date... 2,364 2,364, ,82 8, , Fiscal year or month National Aeronautics and Space Admin. Veterans Administration Net expenditures Net lending Other independent agencies Net lending Net expenditures Undistributed intrabudgetary transactions 6/ Net expenditures Net expenditures s Net lending 96..,... 7l*l* 5,35* 296 5,650 2,237 *+3 2,680 2,'**9 96,597,98 97, ,257 5,356 2*8 5,60* 2,22*,035 3,259 2,53 0l*,l+62 2,35 06, ,552 5,6U6 *6 5,*99 2,* ,839 2,6**,*56 *5,3 96*... *,7 5, ,660 2,7 52 2,86* 2,877 8,039 5*5 8, ,09 5, ,708 2, ,559 3,09 7,8,2*9 8, ,932 5,7*6 2* 5,960 3, *,97 3,36* 30,820 3,832 3*, ,*23 6,355 *90 6,8*5 3,825,588 5,*3 3,936 53,20 5,053 58,25* *,72 6,7 *8 6,858 l*,7l* 2,083 6,257 *,*99 72,802 6,030 78, l*,2l*7 7,* ,669 M ,970 5,7 83,072,*76 8+*5I ,7*9 8,**6 20l* 8,653 5, ,736 6,380 9k,k6o 2,28 96, (Est.) 3,*00 8, ,*55 6,298 5*5 6,8** 6, ,088 7/ ,77 969Nov * T3/244r 277r 5,4Slr Dec *3 69 2**,09 5,237 U0 5, Jan , ,39* Feb * ll*,999 0k Ik,89k Mar *2 6,29* 25I* 6,5*8 Apr *8 56* *9 7,8** 200 8,0+3 May *6* 00 56* *0 6, ,++ June * 728 * ,503 ll*, ,35 July * 0 *23 23I* 9,3** 7 9,327 Aug * * *7 7,* ,*95 Sept ,329 lll+ Oct * * 296 7,* ,*3 7,6+0 Nov ,66 2 6,728 Fiscal 97 to date...,402 3, ,805 2, ,867,450 88, ,633 Source: See Table FFO. Note: Net expenditures represent disbursements less proprietary receipts from the public and certain intrabudgetary transactions applicable to the expenditure account. Net lending represents loan disbursements less loan repayments. If only one column is shown for an agency the amounts represent net expenditures, unless otherwise noted. Agency shifts are shewn in this table beginning with the period of such shifts, figures prior to the shifts have not been adjusted. / Includes net lending. 2/ See footnote 5. Figures prior to fiscal 967 represent expenditures for the Federal Aviation Agency. Lj Reported on an accrual basis. J5/ Beginning fiscal 963 expenditures of Federal OldAge and Survivors Insurance Trust Fund and Federal Disability Insurance Trust Fund are included under Health, Education, and Welfare Department and expenditures for the Unemployment Trust Fund under Labor Department. 6/ For content se6 Table FF04. 7/ Includes $275 million estimate for distribution of Federal tax revenues to state and local governments, $,400 million for civilian and military pay raises, and $900 million for contingencies. * Less than $500,000. r Revised.

11 January 97 7 FEDERAL FISCAL OPERATIONS. Fiscal year or month Table FFO4. Undistributed Intrabudgetary Transactions Federal employer contributions to retirement funds Health, Education, and Welfare Dept. Federal OldAge, Disability, and Hospital Insurance Civil Service Commission Civil Service Retirement and Disability Fund Other (In millions of dollars) Defense Department Soldier s Home Permanent Fund Interest credited to certain Government accounts Federal OldAge and Survivors Insurance Trust Fund Health, Education, and Welfare Department Federal Disability Insurance Trust Fund Federal Hospital Insurance Trust Fund Federal Supplementary Medical Insurance Trust Fund , , , , ,042 4, ,090 4, ,8 5, :... 50,30 5, ,40 6 2,08 3, , ,444 3, (Est.) , ,366 3, il969 Nov _ 32 3 Dec Jan * Feb Mar Apr * May JtQy * Aug Sept * Oct * Nov Fiscal , Fiscal year or month Interior Department Indian Tribal Funds Laboy Department Unenrployment Trust Fund Interest credited to certain Government accounts (continued) Transportat ion Department Highway Trust Fund Veterans Administration National Government Service Life Life Insurance Insurance Fund Fund Civil Service Commi s s ion Civil Service Retirement and Disability Fund Railroad Retirement Board Other Grand ,43 2, ,444 2, ,485 2, ,62 2, ,780 3, ,97 3, ,275 3, G ,674 4, ,099 5, ,936 6, (Est.) , ,273 6, Nov * * 35 8 * Dec * * 8 3 * 920,09 970Jan * * Feb * * * 4 4 * 7 2 * Apr... * 6 5 * * May... * 23 6 * * 39 2 * ,238 2,503 July * * Aug * 8 35 * Sept * * 3 * Oct...*... #. 6 4 * 6 4 * Nov. 2 4 * * Fiscal 97 to date * * 394,450 Source: See Table FF62. r Revised.

12 00 Table FFO5. Budget Outlays by Major Function (In millions of dollars) Function Fiscal year 970 Fisc?il year 9'7 November December J anuary February March April May June July August September October November Cumulative to date Comparable period FY 970 National defense 6,4l6r 6,937 6,769 6,260 6,72 6,883 6,572 7,037 6,856 6,340 6,467 6,44 6,54 32,258 34,268 Proprietary receipts from the public... 85r Intrabudgetary transactions... *r _* 2 _* 2 * 2 _* 2 3 _ 6,33r 6,83 6,648 6,99 6,608 6,807 6,56 6,927 6,794 6,253 6,374 6,354 5,966 3,740 33,789 * _ * * * _ * _ * * * * _ * * * 6,33r 6,83. 6,648 6,99 6,608 6,806 6,56 6,926 6,794 6,253 6,374 6,354 5,965 3,740 33,789 International affairs and finance ,267,476 Proprietary receipts from the public * Intrabudgetary transactions... _* _ * _ * _ * _ * * * ,7, international affairs and finance ,249,796 Space research and technology ,40,547 Proprietary receipts from the public... _ * _* _* 4 _* _ * space research and technology ,402,544 Agriculture and rural development Expenditures , ,636 5,07 Proprietary receipts from the public _ * _* Intrabudgetary transactions , ,620 5, agriculture and rural development , ,543 5,09 Natural resources ,937,683 Proprietary receipts from the public., Intrabudgetary transactions... _* _* _ * _ * _* * _ * _ * * _ * Net expenditures ,54,327 Net lending... * * _ * * * * * * * * * * 2 natural resources ,55,329 Commerce and transportation Expenditures ,226, ,966 3,98 Proprietary receipts from the public Intrabudgetary transactions... _ * 20 * * _* 25 4 Net expenditures ,28, ,889 3,99 Net lending commerce and transportation , ,23, ,963 3,956 Community development and housing' Expenditures Proprietary receipts from the public... _ * _* _* _* _* _ * 2 *,029 _ * 76 _* Intrabudgetary transactions , community development and ,363, 598 (Continued on following page) *4 M G H > *3 HH CO o > r o H Sd > HH o z co s* $ I v? (33 * 5 8 *

13 Table FFO5. Budget Outlays by Major Function (Continued) * I & Function (In millions of dollars) Fiscal year 970 Fiscal year 97 Comparable period November December January February March April May June July August September October November Cumulative FY 970 to date VO Education and manpower , ,97 2,529 Proprietary receipts from the public * , ,967 2,524 Net lending education and manpower , ,02 2,68 Health "Expenditures... l,22r,748,98 928,363,466,233,90,254,200,37,35,282 6,368 6,544 Proprietary receipts from the public... * * _* * 5 * * * * Intrabudgetary transactions Net expenditures... l,44r,044, 844,286,378,60,23,48,02,22,205,83 5,85 6,6 Net lending * * 5 * * * * health... l,44r,044., 844,286,378,60,29,48,02,22,205,83 5,85 6,6 Income security Expenditures... 3,02r 3,865 3,587 3,665 3,753 4,67 4,047 4,468 4,28 4,87 4,223 4,339 4,304 2,82 5,452 Proprietary receipts from the public... * * * _* * * _ * * * * Intrabudgetaiy transactions... * 458 * * _* 2 Net expenditures... 3,02r 3,407 3,587 3,665 3,733 4,66 4,047 3,873 4,28 4,87 4,222 4,339 4,304 2,80 5,450 Net lending... * * 2 * * 2 _ * income security... 3,02r 3,407 3,588 3,665 3,733 4,68 4,047 3,872 4,28 4,87 4,222 4,339 4,304 2,8 5,45 Veterans benefits and services Expenditures ,995 3,505 Proprietaiy receipts from the public Intrabudgetaiy transactions... _* _* * * * * * * _* _* _* Net expenditures ,800 3,3 Net lending veterans benefits and services ,87 3,426 Interest Expenditures...,594,66,679,628,706,663,60,773,774,774,772,776,759 8,856 7,703 Proprietary receipts from the public Intrabudgetary transactions interest...,57,55,537,64,686,63,563,655,597,705,73,48,738 7,98 7,08 General government Expenditures r ,669,375 Proprietaiy receipts from the public... 6r Intrabudgetaiy transactions Net expenditures r ,578,259 Net lending r general government r ,530,247 Undistributed intrabudffetarv transactions. 263, , ' ,450,274 w D w t 2 GO O O d H 25 th o Z GQ 5,48lr 5,090 6,399 4,885 6,540 8,057 6,445 5,35 9,327 7,495 7,443 7,640 6,728 88,633 83,839 Source: On basis of monthly statement of receipts and expenditures of the Government. * Less than $500,000. r Revised. VO

14 Treasury Bulletin FEDERAL FISCAL OPERATIONS Table FFO6. Investment Transactions o f Government Accounts in Federal Securities (Net) Fiscal year or month Federal OldAge and Survivors Insurance Trust Fund (in millions of dollars) Health, Education, and Welfare Department Housing and Urban Development Department Labor Department Federal Disability Insurance Trust Fund Federal Ho spital Insurance Trust Fund Federal Supplementary Medical Insurance Trust Fund Other Renewal and Housing Asst, and Metro. Development Federal Housing Administration Government National Mortgage Assn. Participation Sales Fund Federal Insurance Administration Unemployment Trust Fund * _ 97 _ 2 _ 950 * ,097 2 * _ 32 _ 67 * 72 _ * _ 36 _ 00 _ *53 * 96k * 2* 38 _ 256 _ 582 * * 25 6 _ 967 * *3 786 * ll* ,*68 * >7kl 296 * * 8 * ,56 * ,58* * 0 35 *70 7,*6 * ,898, * * ,953,3* ^5 * U88 * 97 (Est.).. 3,628, I* * 7 2l*l 60 *2 90 * Other Other 969Nov * 5 65 * Dec... 7* l* 25 * Jan k * _ Feb i* _ Mar * _ 32* _ Apr * _ May ** 5 0 * _ J une l* * 223 * July *5 * 3 _ 245 _ Aug * _ _ Sept * * _ Oct I _ 220 _ Nov * Fiscal 97 to date Fiscal year or month Transportation Department Highway Trust Fund Treasury Department Veterans Admini s trat ion National Service Life Insurance Fund Other Civil Service Commission Other independent agencies Federal Deposit Insurance Corporation Federal Savings and Loan Insurance Corporation Railroad Retirement Board ll* *+ 3,9 *8 3l+ 78 * ** 62,093 5* * ,* ,*28 96* k, ** , M ,2* ll*9 * 2, l* *0, l+ 5I* 32 3,2l*l* *8* , , l* , * 7*7 5 29, l* 8, , Ik, V 0, (Est.).., , ,969 All Other 969 Nov * *7 3* 3* Dec k ,0* 970Jan ll* 52* Feb ll*3 * Mar * ** Apr May... 2l*2 2 Ik ,6* June... ll* ,827 July * 8 * Aug ,65 Sept Oct ,056 Nov Fiscal 97 to date Source: See Table FFO2. * Less than $500*000.

15 Classification Net taxes / Table FFO7. Trust Funds Transactions July, 970 through November 30, 970 Budget Receipts Gross Outlays (in millions of dollars) Federal payments and contributions 2/ Outlays Receipts from other accounts within the Budget (Intrabudgetary) Intragovernmental transactions Interest and profits on Federal employer investments in contributions Federal securities 2/ Other Receipts offset against outlays (deduct) Trust interfund transactions on non Interest (Financial Federal interchange) securities Receipts from outside the Budget (Proprietary) Other Net outlays Excess of receipts or outlays() & 8 ft & vs 'Vi Federal OldAge and Survivors Insurance... 0,25, 52,726 2,42 _ _ * 2, Federal Disability Insurance..., ,653, *, Federal Hospital Insurance..., ,98 2, * * 2,39 22 Federal Supplementary Medical Insurance... _ * * Federal Employees Retirement , Federal Employees Life and Health Benefits Federal Deposit Insurance Corporation Airport and Airway Highway... 2,370 2,370 2, ,89 8 Indian Tribal Funds Military Assistance Advances *4 H O H» > t" HH w o > tr* O u H 5HH o 52! C/5 Railroad Retirement Unemployment... 22,76,298, , Veterans Life Insurance All other trust ,454 4,44 20,895 23, , , l/ Amounts are stated net of refunds. 2/ Includes payment for military service credits and special benefits. 2/ Includes interest payments from other funds and interest on uninvested ij Includes deposits by States. 5/ Premiums on insurance. 6/ Excludes advances from and repayments to the Railroad Retirement Acc'ount. * Less than $500,000.

16 2.FEDERAL OBLIGATIONS, Treasury Bulletin,fObligations are the basis on which the use of funds ls controlled in the Federal Government. They are recorded at the point at which the Government makes a firm commitment to acquire goods or services and are the first of the fo\ir key events order, delivery, payment, consumption which characterize the acquisition and use of resources. In general, they consist of orders placed, contracts awarded, services received, and similar transactions requiring the disbursement of money. The obligational stage of Government transactions is a strategic point in gauging the impact of the Government's operations on the national economy, since 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 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 in current operations or in the construction of capital items. Federal agencies and firms often do business with one another; in doing so, the"buying agency records obligations, and the "performing agency records reimbursements. In Table FO, obligations that are incurred within the Government are distinguished from those incurred outside the Government. Tables FCU2, 3, and 4 show only those incurred outside. Obligation data for the administrative budget fund accounts were first published in the September 967 Treasury Bulletin and the trust fund accounts were first published in the October 967 Bulletin. Beginning with the April 968 Bulletin, the data are on the basis of the budget concepts adopted pursuant to the recommendations of the President s Commission on Budget Concepts.

17 January 97 3.FEDERAL OBLIGATIONS. Table FO. Gross Oblisations Incurred Within and Outside the Federal Government by Object Class, November 30, 970 Object class (in millions of dollars) Gross obligations incurred Outside Within Personal services and benefits Personnel compensation... Personnel benefits... Benefits for former personnel... Contractual services and supplies Travel and transportation of persons. Transportation of things... Rent, communications, and utilities.. Printing and reproduction... Other services... Supplies and materials... Acquisition of capital.assets Equipment Lands and structures... Investments and loans... Grants and fixed charges Grants, subsidies, and contributions. Insurance claims and indemnities... Interest and dividends... Refunds... Other Undistributed U.S. obligations... Obligations incurred abroad.... Unvouchered..., Gross obligations incurred l/.... 6,620,246, , ,594 7,482 5,608,359 4,657 5,456 23,30 6, ,04 3,067 4 QQQQQQQQQQQQQQAOOOO( OOOOOOOOOOOOOoOOOanof 6,620,364 2,60, , , *223 3,542 3,35 3,483 0, ,80 59 *,47 4, ,972 23, , , , ,397 08,999 Source: Reports on Obligations, Standard Form 225, from agencies, l/ 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 on the basis of Reports on Obligations received from the agencies prior to reports submitted for Budget presentation and therefore may differ somewhat from the Budget document.) Gross obligations incurred (as above)... $ 08,999 Deduct: Advances, reimbursements, other income, etc... 23,344 Offsetting receipts ,455 Net obligations incurred... 8,200 * Less than $500,000. " Table FO2. Gross Obligations Incurred Outside the Federal Government by Major Function and Major Object Class, November 30, 970 (in millions of dollars) Major function Personal services and benefits Contractual services and supplies Major object ciass Acquisition of capital assets Equipment Lands and structures Investments and loans Grants and fixed charges National defense... 2,3 3,949 4, ,865 34,49 International affairs and finance ,59 Space research, and technology *,235 Agriculture and rural development , ,35 3,87 3,084 4,723 Natural resources * 2,85 3, , ,793 Community development and housing *,98 Education and manpower ,920 5,587 Health * 5,676 6,386 Income security * 7,235 7,833 Veterans benefits and services , ,363 Interest... 6,77 6,77 General government * 422 2, ,783 5,608,359 4,657 45, ,602 * Less than $500,000. Other

18 Table FO3. Gross Obligations Incurred Outside the Federal Government by Department or Agency, November 30, 970 4^ (In millions of dollars) Classification Personal services & benefits Contractual services and supplies Personnel compensation Personnel benefits y Benefits Travel and for transportation former personnel of persons Transportation of things Rent, communications, and utilities Printing and reproduction Other services Supplies and materials Equipment Acc luisitio n of caj 3ital as sets Lands and structures Investments and loans Grants and fixed charges Grants, Insurance subsidies, claims and contributions and indemnities Undistributed U. S. Interest and dividends Refunds obligations Other Obligations incurred Unvouchered abroad gross obligations incurred Legislative Branch 2/ * * * * 77 REP0R' rs NOT REiCEIVED Executive Office of the President... ~ * * * * * * * _ * 2 Funds appropriated to the President: 3 ~ 9 * * 7 3 _ 5 * 4 _ 43 6 * _ * * 7 * 53 4 * * * Agriculture Department: Commodity Credit Corporation... 2 * 02 * *,76 3,342 3,085 2,587 Other * ,74, _ 3,335 Commerce Department l * * * 402 Defense Department: Military: 3, ,45, _*,787 * 8,93 Department of the Navy... 3, ,266,8 32, ,425 2, ,857,570 2, _ * 0, , l * 2 5 2,885 5 * * * * 4 * * " 2 " 2 9,^39,2 2 6, ,^59 5,40 4, , ,700 Civil * _ 4 * 892 Health, Education, and Welfare ,6 2 6, ,286 Housing and Urban Development Department: Government National Mortgage Association... 8 * 373 * * 7 * , * * 28 *,9 Justice Department * * * _ * * 2 * 8 * 60,6 0 6 _ 2,455 Post Office Department... 2,5 6 8 * * _ 3, * 06 0 _ 53 _ ,7 8 >* * 7 2,664 Treasury Department:.Interest on the public debt... 6,6 5 8 _ 6, * * 65 4 * * * 567 Atomic Energy Commission * 2 2 *, ,739 General Services Administration * 7 3 * * * * 75^ National Aeronautics and Space * * _,235 Veterans Administration * ,693 * 28 4,352 Other independent agencies: ExportImport Bank of U.S... 2 * * * * * * * 57^ Small Business Administration * 2 * * * 39 * * 239 * * * , , ,6 2 0,246, , ,594 7,482 5,6 0 8,359 4,657 5,456 23,30 6, ,04 3, ,6 0 2 Source: imports on Obligations, Standard Forms 225, from agencies. Note: Agency si.ifts are shown in this table beginning with the period of such shifts. The amounts for the complete fiscal year are adjusted at that time. / For purposes of this report this object class is considered as totally within the Federal Government except for the 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. * Less than $500,000. * H d w» & C o > HH o as CO I Q b a 5r I

19 Table FO4. Gross Obligations Incurred Outside the Federal Government Comparative Statement by Months & (in millions of dollars) Object Class Fiscal year 970 Fiscal year 97 Nov. Dec. Jan. Feb. Mar. Apr. May June p July Aug. Sept. Oct. Nov. Cumulative to date Comparable period FY 970 VO National defense: Personal services and benefits: Personnel compensation...,650,772,87,656,836 2,04,883,890 2,4,964,74,940,789 9,522 9,784 Personnel benefits ,226,39 Benefits for former personnel ,365,26 Contractual services and supplies: Travel and transportation of persons Transportation of things Rent, communications, and utilities Other services... l,49r,53,702 l,u74r, r 827,669 l,556r l,350r, r 2,07 6,920 6,999,3l8r l,73r,9 5r 943r,005r 769r 962r,50 747r,292r l,06r,2l6r,070 5,430 7,084 Acquisition of capital assets: 732, ,855, , ,989 4,49 Lands and structures... 87r 79 3r r 49r 73r r Investments and loans... *r lr *r *r lr *r lr * lr lr lr lr * 3 27 Grants and fixed charges: Grants, subsidies, and contributions Interest and dividends Refunds * * Other: Undistributed U.S. obligations... * 9 9 * * * Obligations incurred abroad ,825 2,94 Unvouchered... * * * * * 3 * * 2 national defense... 6,38 6,639 7,3 5,827 6,306 6,494 5,986 8,846 7,0 6,752 6,865 6,336r 7,427 34,49 35,993 Nondefense; Personal services and benefits: Personnel compensation...,209,37,33,89,287,373,942 /,398,339,398,579,42,370 7,098 6,47 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 ' ,674 2,797 Supplies and materials ,052,987 Acquisition of capital assets: Equipment Lands and structures Investments and loans ,59,045, ,6 775r 94r l,009r 688r,238 4,655 4,48 Grants and fixed charges: Grants, subsidies, and contributions...,385 3,65 2,352,293 3,3 3,067 2,736 5,56 4,298,744 4,230 2,05 3,059 5,437 2,00 Insurance claims and indemnities... 3,780 4,044 4,040 4,098 4,699 5,024 4,547 4,573 4,544 4,620 3,979 5,377 4,578 23,098 9,200 Interest and dividends...,35,404,34,32,37,339,299,378,44,345,358,326,46 6,859 6,25 Refunds ^ Other: Undistributed U.S. obligations , , ,053 2,794 Obligations incurred abroad Unvouchered... * 3 * * * * * 7 * nondefense... 0,07 2,745,47 0,272 2,362 6,07 2,50 6,237 2,057r 0,269r 3,908r 2,755r 3,22 62,09 52,060 6,452 9,384 8,782 6,096 8,668 22,60 8,496 25,08 9,l66r 7,022r 20,773? 9,092r 20,550 96,602 88,053 / Includes $,03 million for Post Office Department, covering obligations for the period April 3 through May 29. This Department has 3 reporting periods. * Less than $500,000. p Preliminary. r Revised. v

20 6.ACCOUNT OF THE TREASU R E R OF TH E UNITED S T A T E S, Treasury Bulletin S ource and A v a ila b ility o f the Balance in the T reasu rer s A ccount The working cash of the Treasury is held mainly in Treasurer s accounts with Federal Reserve banks and branches. As the balances in these accounts become depleted, they are restored by calling in (transferring) funds 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 customer's account to the tax and loan account in the same bank. On occasions, to the extent authorized by the Treasury, banks are permitted to deposit in these accounts proceeds from subscriptions to public debt securities entered for their own account as well as for the account of their customers. The tax and loan account system permits the Treasury to leave funds in banks and in the communities in which they arise until such time as the Treasury needs the funds for its 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 955, pages Table TUS. Status of the Account o f the Treasurer of the United States (In millions of dollars) Assets End of fiscal year or month Available funds in Federal Reserve banks Treasury operating balance Tax and loan accounts in special depositaries Gold balance in Treasury operating balance Silver balance, coinage metal, coin, and currency Unclassified collections, etc. / In Federal Reserve banks in process of collection In other depositaries assets Liabilities J/ Balance in account of Treasurer of United States , , , , ,85 2 9, , , ,324 20, ,6 _ 2, , , ,036 _, ,689 08, ,60 2, , , ,407 2, ,3 4, ,695, ,759 7, ,074 4,3 5, ,694 6, ,258 4, ,89* ,04 7, ,005 6,929 8, ,06 9,06 968Dec ,885 4, ,770 5, Dec...,32 3, , ,24 6,24 970Jan...,27 5,88 2 6, ,593 7,593 Feb ,592 6, ,649 7,649,92 5,630 6, ,875 7,875,784 5,23 7, ,495 8,495 May...,295 4,605 6, ,834 6,834,005 6,929 8, ,06 9,06 July...,200 6,087 7, ,074 8,074 Aug...,056 6,74 7, ,982 7,982 Sept...,238 7,489 8, ,674 9,674 Oct ,424 6, ,62 7,62 Nov ,27 0 5, ,733 6,733 Dec...,56 6, , ,769 8,769 Source: Daily Treasury statement. / Amounts shown, beginning January 963, are net of uncollected items, exchanges, etc. Previously these items were included under liabilities. 2/ Includes reserves and other deposits of the Board of Trustees, Postal Savings System, and uncollected items, exchanges, etc., through December 962. Effective January 963 balances of the Postal Savings demand obligations of the Treasury. Balances of these funds, therefore, are no longer liabilities within the general account of the Treasurer. Uncollected items, exchanges, etc., also previously shown as liabilities were combined with "Unclassified collections, etc." shown under assets.

21 January 97 7 ACCOUNT OF THE T R E A SU R E R OF TH E UNITED STA TES Table TUS2. Analysis of Changes in Tax and Loan Account Balances (in millions of dollars) Credits Balance Proceeds from sales of securities l/ Taxes During period Fiscal year or month Savings bonds and savings notes 2/ Withdrawals Retirement plan and tax and loss bonds 3/ Tax anticipation securities Other Withheld, excise, and corporation b/ Income (by special arrange ment) 5/ credits End of period High Low Average ,787 _ 7,63,788 3b,5 9,ll+2 55,8+2 56,8+7 5,+53 7,653 l,l6l +, ,725 5,898 3,7b 37,59 6,52 56,+38 53,076 8,85 8,889,53 +, ,699 * 2,963 3,830 +,267 6,835 57,595 56,085 0,32+ 0,32+ 2,535 5, , ,0b +3,580 9,92 58,277 59,+2 9,80 0,257,577 l+,7l ,635 2,3^0 +2,+75 2,598 60,050 58,5+0 0,689 0,872,8++ 5, ,70^ 7,368,627 +8,+78 ll+,522 7l+,699 75,338 0,050, l+,32l ,783 7,6+3.,73 70,52+ 9,257 9,382 97,60 l+,272 9, , , ,538 9,576 90,79 2,583 2,7+ +,3 8,00l+,029 +, ,599 b 0,+08 5,+7 23,906 +2,333 +,92 l+,525 9, l+, , ,0+3 3,6+0 32,+60 5,72 +9,37 6,929 7,990 89}+ l+, Dec * 3,092 3,303 H+,735 3,903 5,6+0,222 3, Jan * 8,980 _ 9,238 7,953 5,88 5,333,803 3,329 Feb * 0,305 ' 0,532 0,28 5,592 6,+9 3,8+0 5,+72 Mar... 22k 3,+38 2,332 5,99+ 5,957 5,630 6,666 3,+87 5,33 Apr... 22b *,79,9++ 2,+52 5,23 5,23,206 3,+5+ May *,535 0,33 2,076 2,59+ l+,605 6,267 3, June li+,925 5,+3 2,89 6,929 7,990, * 4,545 _ 9,232 _ li+,000 ll+,8l+l 6,087 7,60 3,982 5,682 Aug *,34 9,892,442,355 6,74 7,80 3,862 5, ,657,865 0,550 7,+89 7,8+0 2,+67, 5,29 Oct * 2,40 _ 8,250 _ 0,868 2,933 5,424 7,042 2,975 5,099 Nov * 944 9,295 0,440 0,646 5,27 5,969 2,792 4,453 Dec ,088 2,258 4,56 2,945 6,834 7,996 2,997 5,733 Source: Office of Fiscal Assistant Secretary; figures are on basis of telegraphic reports. / Special depositaries are permitted to make payment in the form of a deposit credit for the purchase price of U.S. Government securities purchased by 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. 2/ United States savings notes first offered for sale as of May, 967 and were discontinued after June 30, / Retirement plan bonds first offered for sale as of January, 963; tax and loss bonds first issued in March 968. bj Taxes eligible for credit consist of those deposited by taxpayers in the depositary banks, as follows: Withheld income taxes beginning March I9I+8; taxes on employers and employees under the Federal Insurance Contributions Act beginning January 950, and under the Railroad Retirement Tax Act beginning July 95; a number of excise taxes beginning July 953; estimated corporation income taxes beginning April 967; and all corporation income taxes due on or after March 5, / Under a special procedure begun in March 95? authorization was given during certain periods for income tax payments, or a portion of them made by checks of $0,000 or more drawn on a special depositary bank, to be credited to the tax and loan account in that bank. This procedure was discontinued in April 967. * Less than $500,000.

22 8.ACCOUNT OF THE TREASU RER OF T H E U NITED STATES Treasury Bulletin Table TUS3. Summary of Cash Transactions through the Account of the Treasurer of the United States (in millions of dollars) Net cash transactions other than borrowing Fiscal year or month Cash Deposits Deposits and withdrawals (budget and other accounts) Cash withdrawals / Excess of deposits, or withdrawals () Clearing accounts 2/ net transactions Plus: Net cash borrowing, or repayment of borrowing () Equals: Treasurerfs account balance, increase, or decrease () ,9 4,454 2,562 25,464 lul,095 63,036 65,086 20, ,924 97,774 2,88 8,+77 24,047 26,395 +2,9 64,59 84,58 20,49 223, ,278 4,023 2,485 93,095,555 9, ,723 50,259,039,49 584, ,095,928,556,387 5,08 2,984 3,975,55 2,7 90 2,590,684 2, ,755 4,670 2,895 3,089,968 3,747 20,525 2,094 4,079,3 3,736,686,080, ,648, ,92 969Dec.. 970Jan.. Feb.. Mar.. Apr.. May.. June. July. Aug.. Sept. Oct.. Nov.. Dec.. 7,664 8,200 7,674 4,888 2,530 6,309 23,95 3,256 6,852 20,5 2,92 5,60 7,594 8,499 7,278 8,946 7,823 8,86 9,3 9,75 9,29 22,642 7,042 8,573 7,48 20, ,272 2,934 3,344 2,804 4,64 6,035 5,790 3,073 5,652,988 3, , ,043 2, ,79, ,605 3,068 4,905 3,32 4,94 7,078 3,409 3,46 5,380 3,707,850,348 50,660 3,294 4,285,652 2,759 6,36 3,36,724 2,868 3,278 3,885,95, ,660 2, ,692 2, ,035 Fiscal 97 to date ,462 9,564 Source: Daily Treasury statement. Figures in the first four columns may differ somewhat from those originally published in the daily Treasury statement because of subsequent reclassification of certain transactions.,557 8,007 7, / Beginning with the February 963 Bulletin, figures have been revised, as shown in the daily Treasury statements beginning January 2, 963, to exclude transactions of clearing accounts. 2/ Previously included under cash withdrawals. See footnote. Table TUS4. Gold Assets and Liabilities of the Treasury (in millions of dollars) End of calendar year or month Gold assets / Liabilities: Gold certificates, etc. 2/ Balance of gold in Treasurer s account ,978 5, ,53 5, ,388 5, ,733 3/ 3,626 3,59 3, ,982, ,367 0,256 0,367 0,256 2,367, Dec... 0,367 0, Jan...,367,256 2 Feb...,367,256 Mar...,367,256 Apr...,367,256 May...,367,256 June...,367,256 July...,367,256 Aug...,367,256 Sept...,7,006 Oct...,7,006 Nov...,7,007 0 Dec... 0,732 0, Source: Circulation Statement of United States Money through 965; daily States notes and through June 30, 96, Treasury notes of 89O and Treasury statement thereafter. (2) the redemption fund Federal Reserve notes (Pursuant to P.L. / Treasury gold stock; does not include gold in Exchange Stabilization approved March 8, 968, this fund was combined with gold Fund. See "International Financial Statistics," Table IFS. certificate fund Federal Reserve System). 2/ Comprises gold certificates held by the public and in Federal Reserve The United States payment of the $259 million increase in its gold Banks, the gold certificate fund Federal Reserve System, and gold subscription to the International Monetary Fund, authorized by deposited by and held for the International Monetary Fund. Prior to P.L. 893, approved June 2, 965 (79 Stat. 9) was made on June 30, March 968 also includes (l) reserve of $56 million against United 965

23 January 97 M O N ETARY STATISTICS 9 Table MS. Money in Circulation (in millions of dollars except per capita figures) End of fiscal year or month Federal Reserve bank notes National bank notes Currencies no longer issued Gold certificates 2/ Silver certificates Federal Reserve notes 2/ Treasury notes of 890 Currencies presently being issued / United States notes Federal Reserve notes y currencies , ,36 29, , * 38 28,586 3, ,847 8 * 39 30,274 32, ,723 8 * 32 32,338 34, * ,820 36, * ,35 38, * ,289 40, * 299 4,722 42, * ,547 45, k 220 * ,626 +8, Dec * 30 44,653 45, * ,43 4.7, * ,334 47, * ,32 45,95 Feb * ,450 46, X ,079 46, * , , ,985 47, * ,626 ^8, # ,730 48, * ,900 48, * ,003 48,602 Oct * ,207 48,808 Nov * ,526 50,30 End of fiscal year or month Standard silver dollars Coin Fractional coin coin money in circulation 5/ Money in circulation per capita (in dollars) 6/ ,33 2,462 32, ,293 2,652 33,770 I8O ,466 2,878 35, ,723 3,205 37, ,80 3,662 39, ,782 4,264 42, ,60 4,64 44,72' ,827 5,309 47, ,308 5,790 50, ,6+6 6,28 5^, Dec ,209 5,69 50, ,483 5,965 52, ,539 6,02 53, Jan ,504 5,986 5, Feb ,506 5,988 52, ,546 6,028 52, ,572 6,053 53, ,603 6,084 53, ,646 6,28 54, ,664 6,45 54, ,689 6,70 54, ,7 6,93 54, Oct ,73 6,23 55, Nov ,769 6,25 56,38 7/ Source: Circulation Statement of United States Money through December 965; thereafter, Statement of United States Currency and Coin, l/ Excludes gold certificates, Series of 934, which are issued only to Federal Reserve banks and do not appear in circulation. 2/ Issued prior to January 30, / Issued prior to July, / Issued on and after July, / Excludes money held by the Treasury and money held by or for the account of the Federal Reserve banks and agents. 6/ Based on the Bureau of the Census estimated population. Beginning fiscal 959 estimates include Alaska, and fiscal 960, Hawaii. 7/ Highest amount to date. * Less than $500,000.

24 20 FEDERAL DEBT Treasury Bulletin Table FD. Summary of Federal Debt (in millions of dollars) End of fiscal year or month outstanding Public debt securities Agency securities Government accounts Public debt securities Agency securities Securities held by: IMF & International lending organizations y The public 2/ Public debt securities Agency securities , ,97 6,477 54,29 53, , , ,73 5, ,28 298,20 7,927 54,98 54, , ,373 24,09 7, , ,860 8,23 56,345 55, ,76 254,46 *247,046 7, ,344 3,73 8,63 59,20 58, ,58 257, ,533 8, ,609 37,274 9,335 6,540 6, ,455 26l,6l4 252,748 8, ,284 39,907 3,377 64,784 64, ,80 264,690 25,782 2, , ,22 8,455 73,89 7,809. 2,00 3, ,529 25,084 6, , ,578 24,399 79,40 76,38 3,00 2, , ,23 2, , ,720 4,249 87,66 84,85 2, , ,080, , ,99 2,50 97,723 95,70 2, , ,924 9, Dec , ,029 5,064 79,42 76,567 2,845,825 29, ,636 2,29 382,07 368,2 3,904r 89,886 87,023 2, , ,265 ll,04r 382, ,226 3,820 9,927 89,042 2, , ,359 0, Jan... 38, ,572 3,755 9,402 88,584 2, ,00 278,63 0,937 38,83 368,847 2,966 92,027 89,447 2, ,96 278,574 0,386 Mar , ,007 2,987 92,894 90,368 2, , ,84 0,46 380,42 367,94 2,948 92,732 90,93 2, , ,76 0,408 May ,757 37,088 2,670 94,896 92,33 2, , ,932 0,04 383, ,99 2,50 97,723 95,70 2, , ,924 9,956 July , ,568 2,472 97,337 94,767 2, , ,976 9,902 Aug , ,90 2,469 98,952 96,368 2, , ,708 9,885 39,60 378,678 2,482 98,089 95,487 2, , ,367 9,880 Oct ; ,200 2,465 97,032 94,48 2, , ,957 9,85 396,00 383,640 2,460 97,6 94,564 2, ,3 288,250 9,863 Source: Dai^y Treasury statement and monthly statement of receipts and 965 letters of credit have been issued in lieu of the special notes. expenditures of the Government. All outstanding notes have been converted to letters of credit with l/ Represents noninterest bearing public debt securities issued to the the exception of those for IMF. International Monetary Fund, and prior to FY 967 to the International 2/ Includes holdings of Federal Reserve banks. Development Association, and the InterAmerican Development Bank in r Revised, recognition of U.S. Government subscription commitments. Since June Table FD2. Computed Interest Charge and Computed Interest Rate on InterestBearing Public Debt (Dollar amounts in millions) Computed annual interest rate End of fiscal year or month interestbearing public debt Computed annual interest charge interestbearing public debt Bills ± Marketable issues Certificates Notes Treasury bonds Nonmarketable issues 2/ Special issues ,672 8,76 3, ,442 9, , ,954 0,9 3, * ,357 0, ,3, ,43 2, ,286 2, ,40 5, H ,729 7> ,026 20,339 5, Dec ,49 6, , Dec ,22 9, _ Jan ,620 9, _ 5* Feb ,858 20, Mar ,963 20, Apr ,099 9, May ,44 20, June ,026 20, July ,622 20, _ Aug ,905 2, Sept ,820 20, , Oct ,324 2, Nov... 38,667 2, ,252 2, 'Footnotes at end of Table FD5.

25 January 97 FEDERAL DEBT 2 Table FD3. InterestBearing Public Debt (in millions of dollars) Public issues End of Fiscal year or month interestbearing public debt public issues Marketable Bills Certificates Notes Treasury bonds U.S. savings bonds Treasury bonds investment series Nonmarketable Depositary bonds Foreign series securities l/ Foreign currency series securities 2/ Other 3/ Special issues , ,629 87,48 36,723 3,338 56,257 80,830 53,48 47,54 5, , , ,503 96,072 42/036 3,5^7 65,464 75,025 53,43 47,607 4, , ,95^ 257,53 203,508 47,230 22,69 52,45 8,964 53,645 48,34 3, , , , ,489 50,740 _ 67,284 88,464 54,240 49,299 3, , ,3 264, ,695 53,665 52,549 02,48 55,768 50,043 3,256 59,32,37 i4l 48, ,^3 264,3 209,27 54,929,652 50,649 0,897 55,83 50,537 2, , , ,3 20,672 58,535 5,60 49,08 97,48 55,459 5,23 2, , Mf,40 284, ,592 64,440 7,073 9,079 58,282 5,72 2, ,00, , , , ,07 68,356 78,946 78,805 58,833 5,7 2,459 28,703 2, , , , ,599 76,54 93,489 62,956 60,03 5,28 2, ,389,366,656 76, Dec ,^9 296, ,82 75,02 76,483 85,37 59,92 5,97 2, ,4 2,230 4i4 59,46 969Dec ,22 295,23 235,863 80,57 85,4l4 69,878 59,350 5,549 2,426 26,765,996,587 7, Jan , , ,32 8,08 _ 85,408 69,832 59,82 5,448 2, ,285,390,608 70,7 Feb , , ,968 8,7 9,360 63,437 59,465 5,398 2, ,606,390,625 7,425 Mar , , ,95 83,729 9,368 63,098 59,694 5,325 2,4l2 26 2,873,420,638 72,074 Apr , , ,998 79,657 9,285 63,056 59,34 5,285 2, ,620,366,638 7,760 May ,44 295,83 236,56 80,056 93,499 63,006 59,270 5,307 2, ,534,366,649 73,33 June , , ,599 76,54 93,489 62,956 60,03 5,28 2, ,389,366,656 76,323 July , , ,82 8,437 93,487 62,897 60,707 5,300 2, ,9,366,79 76,094 Aug ,905 30, ,5 8,854 99,925 58,733 60,888 5,375 2, ,076,366,662 77,506 Sept , ,39 239,330 80,69 99,940 58,699 60,809.5,44 2, ,97,366,65 76,68 Oct , , ,80 83,697 99,825 58,658 60,696 5,537 2, ,755,366,635 75,448 Nov... 38, , ,447 84,625 0,2 58,62 6,577 5,693 2, ,637,366,478 75,643 Dec , ,46 247,73 87,923 0,227 58,563 6,434 5,842 2, ,33,366,500 78,06 Source: Daily Treasury statement. / Consists of certificates of indebtedness, Treasury notes beginning January 963, and Treasury bonds beginning September 96k, sold to foreign governments for U. S. dollars. 2/ Consists of the dollar equivalent of Treasury certificates of indebtedness; Treasury bonds beginning October 962; and Treasury notes beginning November 966 issued and payable in designated foreign currencies. 2/ Includes Treasury bonds, Rural Electrification Administration series beginning July I960; retirement plan bonds beginning January 963; Treasury certificates beginning June 963. Treasury bonds beginning January 964; and U. S. savings notes beginning May 967 and discontinued after June 30, 970. End of fiscal year or month Table FD4. Maturity Distribution and Average Length of Marketable InterestBearing* Public Debt / Amount outstanding Within year (in millions of dollars) 5 years Maturity classes 5 0 years 0 20 years 20 years and over Average length ,48 8,20 58,400 26,435 0,233 0,960 4 yrs. 6 mos ,072 88,442 57,04 26,049 9,39 5,22 4 yrs. mos ,508 85,294 58,026 37,385 8,360 4,444 5 yrs. mo ,489 8,424 65,453 34,929 8,355 6,328 5 yrs. 0 mo ,695 87,637 56,98 39,69 8,449 7,24 5 yrs. 4 mos ^ ,27 89,36 60,933 33,596 8,439 7,023 4 yrs. mos ,672 89,648 7,424 24,378 8,425 6,797 4 yrs. 7 mos ,592 06,407 64,470 30,754 8,407 6,553 4 yrs. 2 mos ,07 03,90 62,770 34,837 8,374 6,27 4 yrs. 0 mo ,599 05,530 89,65 5,882 0,524,048 3 yrs. 8 mos. 968Dec ,82 08,6 68,260 35,30 8,396 6,45 4 yrs. 0 mo. 969Dec ,863 8,24 73,302 20,026 8,358 6,054 3 yrs. 8 mos. 970Jan ,32 8,633 73,294 20,026 8,354 6,04 3 yrs. 7 mos. Feb ,968 7,796 77,04 9,329 0,557,82 3 yrs. 7 mos. Mar ,95 2,272 75,889 9,329 0,55,55 3 yrs. 6 mos. Apr ,998 7,48 75,855 9,329 0,542,24 3 yrs. 6 mos. May ,56 09,432 89,63 5,879 0,534,085 3 yrs. 8 mos. June ,599 05,530 89,65 5,882 0,524,048 3 yrs. 8 mos. July ,82 0,83 89,64 5,876 0,54,004 3 yrs. 6 mos. Aug ,5 09,830 9,075 8,22 0,507 0,978 3 yrs. 7 mos. Sept ,330 08,67 9,066 8,40 0,50 0,95 3 yrs. 6 mos. 242,80,636 90,992 8,38 0,493 0,922 3 yrs. 5 mos. Nov ,447 20,25 82,302 22,555 8,566 0,900 3 yrs. 6 mos. Dec ,73 23,423 82,38 22,553 8,556 0,863 3 yrs. 4 mos. Source: Office of Debt Analysis in the Office of the Secretary. bonds which have been classified to earliest call date. The last of these / All issues are classified to final maturity except partially taxexempt bonds were called on August ik, 962, for redemption on December 5, 962.

26 22 Treasury Bulletin, FEDERAL DEBT. Table FD5. Special Public Debt Issues (in millions of dollars) End of fiscal year or month Federal employees retirement funds Federal Deposit Insurance Corporation Federal Disability Insurance Trust Fund Federal home loan banks Federal Hospital Insurance Trust Fund Federal OldAge and Survivors Insurance Trust Fund Government Life Insurance Fund Federal Savings and Loan Insurance Corporation Highway Trust Fund National Service Life Insurance Fund Railroad Retirement Accounts Unemployment Trust Fund Other / Dec. 45,043 44,939 44,80 46,627 48,650 5,20 56,55 59, ,790 76,323 59,46 0,44,382 2,438 3,530 4,577 5,89 5,569 5,668 7;354 8,93 5, ,299 2,304 2,65,903,563,50,376,89 3,042 4,435 2, ,92,259,890 2,583,345 6,200 38, ,759 3,504 4;, ,074 82, ,804 3,36 4, ,22 98, ,74 2,786 4., , ,783 2,969 4., , ,909 3,23 5., , ,3 3,277 7,, , ,744 3,339 7,,785,635 9, ,856 3,303 8,807,304 2, ,53 5,754 3,434 9', , ,602 5,95 3,75 0, , ,607 3,05 9., Dec.. 970Jan.. Feb.. Mar.. Apr.. May.. June. July. Aug.. Sept. Oct.. Nov.. Dec.. 7,008 70,7 7,425 72,074 7,760 73,33 76,323 76,09^ 77,506 76,68 75,448 75,643 78,06 7,868 7,969 8,06 8,058 8,007 7,999 8,93 9,238 9,309 9,350 9,398 9,47 20, b ,428 3,47 3,625 3,838 3,924 4,34 4,435 b,b97 b,69 4,628 4,660 4,736 4, ,408 2,322 2,276 2, ,^79 2, ,399 2,304 3,093 Source: Daily Treasury statement. / Consists of: Postal Savings System through 962; Federal Housing Administration Funds; Employees Life Insurance Fund; Exchange Stabilization fund; Veterans' Special Life Insurance Fund; Veterans' Reopened Insurance Fund beginning May 965; Federal Supplementary 23, ,953 5,769 3,235 0, , ,992 5,75 3,309 0, , ,84 5,79 3,84 0, , ,24 5,763 3,40 0, , ,346 5,74 3,024 0, , ,588 5,727 3,033 0;, , ,602 5,95 3,75 0, ,6^ 88 72? 2,739 5,906 3,637 0,285 5*+3 26,bh2 8 78^ 2,77 5,892 3,595 0.*633 52b 25, a 2,734 5,88 3,557 0, , ,725 5,868 3,34 0, ,590 5,853 3,334 0, , ,823 5,96 3,396 9,, Medical Insurance Trust Fund beginning July 966; Employees Health Benefits Fund beginning October 970; ExportImport bank of the United States from February 967 October 968; and Servicemen's Group Life Insurance Fund from August 969 April 970. Footnotes to Table FD2 Source: On the basis of the daily Treasury statement. Note: The computed annual interest charge represents the amount of interest that would be paid if each interestbearing is. ue outstanding at the end of each month or year should remain outsoanding for a year at the applicable annual rate of interest. The charge is computed for each issue by applying the appropriate annual interest rate to the amount outstanding on that date (the amount actually borrowed in the case of securities sold at a premium or discount, beginning with May I960). The aggregate charge for all interestbearing issues constitutes the total computed annual interest charge. The average annual interest rate is computed by dividing the computed annual interest charge for the total, or for any group of issues, by the corresponding principal amount. Beginning with data for December 3, 958, the computation is based on the rate of effective yield for issues sold at premium or discount. Prior to that date it was based on the coupon rate for all issues. / Included in debt outstanding at face amount, but discount value is used in computing annual interest charge and annual interest rate. 2/ On United States savings bonds the rate to maturity is applied against the amount outstanding.

27 January FEDERAL DEBT Table FD6. InterestBearing Securities Issued by Government Agencies l/ End of fiscal year or month Agriculture Department Commodity Credit Corporation 2/ Defense Department Family housing mortgages and Homeowners assistance mortgages (In millions of dollars) Housing and Urban Development Department Federal Housing Administration Government National Mortgage Association Participation Sales Fund Other Federal National Mortgage Assn. 2/ Secondary market operations Other independent agencies ExportImport Bank of the United States Farm Credit Administration Banks for cooperatives u Federal Intermediate credit banks 4/ ,477 _, _ * 2, , ,927 2, * 2, , ,23 2, , , ,63 2, , , ,335 2, ,797, , ,377 2,2 44 2,0 _ 3,269, , ,455 2, ,830 4,079 2,64,072 3, ,399, ,900 _ 5,887 2,57,230 3, ,249, ,600 _ 2, ,50, ,320, Dec... 5,064, ,40 2, Nov... 3, , ,085 2,203 Dec... 3, , ,060 2,93 970Jan... 3, , ,060 2,88 Feb... 2, , ,40 _ 2,62 Mar... 2,987 96, ,40 2,45 Apr... 2,948 86, ,390 2,43 _ May... 2,670 7, ,390,893 _ June... 2,50, ,320,893 July... 2,47 _, ,285,890 Aug... 2,469, ,285 _,886 Sept.... 2,48, ,285,884 _ Oct... 2,465, ,285,882 Nov... 2,460, ,255,882 End of fiscal year or month Other independent agencies (continued) Federal Home Loan Bank Board Tennessee Valley Authority Other Banks for cooperatives k/ Federal home loan banks Federal intermediate credit banks u (Memorandum) Federal land banks Federal National Mortgage Association 2/ 5/ District of Columbia Stadium Fund * 50 * _,055 2, * 45 *,797 2,55 _ * 45 * 2,770 _ 2,725 _ * 80 * 4,20 2,974 _ * 225 * 4,757 3,532 _ * 285 * 6,30 _ 4,06 _ * ,588 _ 4,62 _ ,702 _ 5,39 _ ,4 5,524 4,240 5,720 8, ,529 9,94 4,942 6,92 3, Dec ,390 4,702 3,58 5,4 6, Nov ,466 8,35 4,223 5,953 0, Dec ,492 8,423 4,80 5,953 0, Jan ,529 8,84 4,226 5,955 0,77 20 Feb ,596 9,27 4,379 6,074, Mar ,595 9,846 4,486 6,040 2, Apr ,65 0,03 4,655 6,37 2,4 20 May ,559 9,952 4,805 6,26 2, June ,529 9,94 4,942 6,92 3,65 20 July... 6,006 3,538 0,03 5,044 6,29 3, Aug... 6,05 3,557 0,200 4,984 6,378 3, Sept... 6,045 3,556 0,66 4,903 6,362 4, Oct... 6,065 3,620 0,77 4,882 6,409 4, Nov... 6,00 3,720 0,202 4,835 6,406 5, Source: Bureau of Accounts. / Includes unredeemed matured securities outstanding on which interest has ceased. 2/ Certificates of interest in the amount of $,590 million were reclassified July, 969 from budget transactions to agency securities. / %/ Effective September 30, 968, Federal National Mortgage Association * was converted to private ownership pursuant to provisions of the Housing and Urban Development Act of 968 (P.L ). Effective December 3, 968, Banks for cooperatives and Federal intermediate credit banks were converted to private ownership pursuant to provisions of Public Law 90582, October 7, 968. Includes mortgage backed bonds beginning June 970. Less than $500,000.

28 24 Treasury Bulletin FEDERAL DEBT Table FD7. Participation Certificates Fiscal year or month Agriculture Department Commodity Credit Corporation (in millions of dollars face amounts) ExportImport Bank of the United States Participation certificates issued by GNMA. acting as trustee Farmers Home Administration / Health, Education, and Welfare Department 2/ Sales _ _ 96U , _ ,385,8^0 30 2, ,U3/ 650 3/ 2, b6 2, M ,83 3, , , l,8lu, , iqb, ,8 2,8 32,^93,280 7,320 boi Nov _,757 _ 30 8,085, , ,060, Jan _ 2,755 8,060, Feb _ 6, , Mar... _ _ 4,745 7, Apr... _ 0 86 _ 2, , May... _ 6 7 _ 250,493 7, June... 7, , July.... 3,490 _ 35 7, Aug... 4,486 7, Sept... 3,484 7, Oct... 2,482 7, *, , Fiscal 97, , k Fiscal year or month 969Nov... Dec 970Ja n Feb... Mar... Apr... May... June... July... Aug... Sept... Oct Nov... Fiscal 97 to date... Participation certificates issued by GNMA, acting as trustee (Continued) Housing and Urban Development Department Office of Secretary ij Sales 680 Government National Mortgage Association 5/.Small Business Administration 6/ Sales Retirements Outstanding Sales Retirementstanding Sales Retire Outments Outstanding Sales Retirements Outstanding Sales Retirements Outstanding Retirements Outstanding Sales Retirements Outstanding Retirements Outstanding Veterans Administration 7/ Retirements Sales Outstanding Sales (Memorandum) Commodity Credit Corp. (net certificates of interest authorized under Charter Act) 8/ Retirements Outstanding _ ^ i _ 200 _ b2 *9 _ _ b _ 680 7I+O 50,^ ,75 67,02 l,lb0 _,820 I+65 50, , ,70U b0 27 2,**33 lb0 3^, , , ,590 32b 2,09 90, ,7^9 2,308 _ 3, _ 7,832 _ 2,308, ,88 _ 2,308, _,88 _ 99 2,09 72, ' 58,760 2,09,76 852,760 2,09 _ 9, ,749 2,09 _, ,749 2,09, ,749 2,09 _ 6,69 _ ,729 2,09, _,729 2,09, _,729 2,09, _,729 2,09 3, ,72 2,09 29, ,72 Source: Bureau of Accounts. Includes Direct Loan and Rural Housing Loan programs. 2/ Includes Construction of Higher Education Facilities, Health professions Education Fund, and Nurse Training Fund, beginning April / Includes $07 million refunding transaction. Includes College Housing, Elderly Housing, and Public Facility programs. _5/ Includes Special Assistance, and Management and Liquidating programs. 6/ Includes programs for Disaster Loans, and Business Loans and investments. 7/ Includes Direct Loan and Loan Guaranty programs. 8/ In the case of Commodity Credit Corporation, participation certificates are called "certificates of interest and are not included in the Participation Sales Act of 966. Amounts shown as sales and retirements represent the net excess transactions for the period. On July, 969 the amount outstanding was reclassified as agency securities. * Less than $500,000.

29 January FEDERAL DEBT Table FD8. Debt Subject to Statutory Limitation End of fiscal year or month Statutory debt limit outstanding subject to limitation Public debt securities (In millions of dollars) Agency securities & debt of District of Columbia / Public debt securities Interest bearing debt subject to limitation Agency District of securities Columbia 2/ / Matured debt and debt bearing no interest subject to limitation Public debt securities , , , , , , ,22 297, , , , , , , , ,000 32,64 3, , , ,000 37,58 36, , , , ,02 39, , , , ,47 325, , ,673 * , , ,925 3,89 344, 40 3, ,524 * , , ,084 3,847 35,729 3,827 20,355 * , , ,288 3,37 369,026 3,7 20,262 * 968Dec ,000 36, ,390 3, ,49 3, ,24 * Agency securities 377,000 37, ,592 3, ,22 3,822 20,37 * 970Jan , , ,939 3, ,620 3,825 20,39 * Feb ,000 37, ,24 3,7 366,858 3,5 20,356 * Mar , ,520 37,375 3,45 369,963 3,25 20,42 * Apr , , ,562 3,43 365,099 3,23 20,463 * May , , ,456 3,39 369,44 3,9 20,32 * June , , ,288 3,37 369,026 3,7 20,262 * July , ,07 375,937 3,34 374,622 3,4 20,36 * Aug , , ,27 3,32 378,905 3,H2 20,365 * Sept ,000 38,80 378,048 3,,32 376,820 3,2 20,228 * Oct , , ,570 3,02 378,324 3,082 20,246 * Nov , ,09 383,0 3,098 38,667 3,078 20,344 * Dec ,000 39, ,530 3, ,252 3,076 20,278 * Source: Daily treasury statement. Bond Act and the amounts of limitation see Table 3 of the Statistical Note: For debt subject to limitation for fiscal years se Table Appendix. 2 of the Statistical Appendix to the Annual Report of the Secretary l/ Of $3,250 million in participation certificates subject to limitation of the Treasury on the State of the Finances for fiscal 969. For a issued in fiscal 968, $2,600 million are now outstanding, summary of legislation on debt limitation under the Second Liberty 2/ District of Columbia Armory Board Stadium Bonds. * Less than $500,000.

30 26 Treasury Bulletin FEDERAL D EBT Table FD9. Status and Application of Statutory Limitation The Second Liberty Bond Act(3U.S.C. 757b), as amended The Act of June 30, 967 (Public Law 9039) provides by the Act of June 30, 970 (Public Law 930), provides that that the face amount of beneficial interests and participathe face amount of obligations issued under authority of that tions issued under section 302(c) of the Federal National Act, and the face amount of obligations guaranteed as to prin Mortgage Association Charter Act (2 U.S.C. 77(c)) during cipal and interest by the United States, shall not exceed in the fiscal year 968 and outstanding at any time shall be the aggregate $380 billion outstanding at any one time. Pub added to the amount otherwise taken into account in deterlic Law930 also provides that beginning July, 970, and mining whether the requirements of the above provisions are ending June 30, 97, the public debt limit shall be tempo met. rarily increased by $5 billion to $395 billion. Part A. Status Under Limitation December 3, 970 (In millions of dollars) The statutory debt limit established by the Second Liberty Bond Act, as amended (3 U.S.C. 757b) ,000 Amounts outstanding subject to statutory debt limitation: U.S. Government securities issued under the Second Liberty Bond Act, as amended ,530 Debt of U.S. Government agencies Participation certificates (2 U.S.C. 77(c))... 2,600 amount outstanding subject to statutory debt limitation... 39,626 Balance issuable under limitation... 3,374 Part B. Application of Statutory Limitation December 3, 970 (In millions of dollars) Classification outstanding Source: Daily Treasuiy statement. * Less than $500,000. Public debt: Interestbearing debt: Public issues marketable: Treasury bills... 87,923 Treasury notes... 0,227 Treasuiy bonds... *... 58,563 public issues marketable ,73 Public issues nonmarketable: Certificates of indebtedness: Foreign series...,85 Foreign currency series Treasury notes: Foreign series ,457 Foreign currency series...,26 Treasury bonds: Foreign series Treasury bonds Treasury certificates U.S. savings bonds... 5,842 U.S. savings notes U.S. retirement plan bonds Depositary bonds Treasury bonds, R.E.A. series... 9 Treasury bonds, investment series ,370 public issues nonmarketable Special issues to Government agencies and trust funds interestbearing debt Matured debt on which interest has ceased Debt bearing no interest:... Special notes of the United States: International Monetary Fund series Mortgage Guaranty Insurance Company Tax and Loss Bonds U.S. savings stamps... 5 Excess profits tax refund bonds U.S. notes Deposits for retirement of national bank and Federal Reserve bank notes Silver certificates Other debt bearing no interest n debt bearing no interest public debt ,58 Debt of U.S. Government agencies: ' Interestbearing debt Matured debt on which interest has ceased... * debt of U.S. Government agencies public debt and debt of U.S. Government agencies ,655 Deduct debt not subject to limitation " Add participation certificates subject to limitation

31 January 97 FEDERAL DEBT Table FD0. Treasury Holdings of Securities Issued by Government Corporations and Other Agencies 27 End of fiscal year or month Agency for International Development / Agriculture Department Commodity Credit Corporation Rural Electrification Administration Secretary: Farmers Home Administration programs 2/ (in millions of dollars) Export Import Bank of the Unitec^ States u Housing and Urban Development Department Secretary U Government National Mortgage Assn. *5/ Other 6/ Transportation Dept. Tennessee Saint Valley Authority Lawrence Seaway Development Corp. V eterans Administration: Direct loan program Under Defense Production Actof 950 7/ ,0,07,534 3, ,698,23 3, ,330, ,634,062 2,990 3, ,830,567 3, ,530, , ,599 3,657,027,476 2,005 2, , , ,990 3,828, ,302 2, ,730 2, , , 4,075, ,753, ,730 2, , ,768 4,234, ,33, ,730 2, , ,097 4,58,45 2,670, ,730, , ,989 4,770, ,937, ,730, , ,5 5,045, ,570 2, ,730 2, , ,262 5,328,46,586 2,26 3, ,730, Dec... 27, ,240 4,93,487 49,470 2, ,730,96 4 Other 8/ 969Dec... 30,248' 53 2,350 5,45,654,268,980 2, ,730 2, Jan... 30, ,088 5,26,745,245 2,09 2, ,730 2,043 8 Feb... 30, ,23 5,36,344,306 2,440 3, ,730 2,043 8 Mar... 30, ,266 5,36,37,377 2,450 3, ,730 2,043 8 Apr... 30, ,233 5,36,337,4 2,435 3, ,730 2, , ,3 5,46,408,728 2,375 3, ,730 2, June... 30, ,262 5,328,46,586 2,26 3, ,730, July... 30,049 52,398 5,428,387,585 2,36 3, ,730 2,00 83 Aug... 30, ,076 5,428,349,60 2,33 3, ,730 2,00 83 Sept... 30,688 52,895 5,528,30,620 2,37 3, ,730 2,00 83 Oct... 3, ,55 5,528,295,646 2,396 3, ,730 2, , ,380 5,628,302,626 2,396 3, ,730 2,00 83 Dec... 3, ,665 5,543,293,523 2,42 3, ,730 2,00 83 Source: Daily Treasury statement. Note: These securities were issued to the Treasury in exchange for advances by the Treasury from public debt receipts under congressional authorization for specified government corporations and other agencies to borrow from the Treasury. Further detail may be found in the 969 Statistical Appendix to Annual Report of the Secretary of the Treasury, pages 3082, and the 969 Combined Statement of Receipts, Expenditures and Balances of the United States Government, pages / And predecessor agencies. Beginning fiscal 957 figures exclude notes previously issued by the Administrator in connection with informational media guaranties. The obligation for these notes was assumed by the Director of the United States Information Agency, pursuant to the act approved July 8, 956 (22 U.S.C. 442), 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), and Rural Housing Insurance Fund. 2J Includes securities transferred from the Reconstruction Finance Corporation. ij Consists of notes issued to borrow for: The urban renewal program (formerly slum clearance program); college housing loans; and public facility loans. Consists of liabilities taken over by the Association from the Secretary in accordance with the act approved August 2, 954, and notes issued by the Association under authority of that act (2 U.S.C. 79 (c), 720 (d), and 72 (d)) arid also securities transferred from the Reconstruction Finance Corporation. 6/ Public Housing Administration ; Federal Housing Administration beginning January 966; Housing Assistance Administration from September 968 December / Consists of notes of: The Administrator, General Services Administration, for defense materials procurement; the Secretary of Agriculture; the Secretary of Interior (Defense Minerals Exploration Administration); the ExportImport Bank of Washington through March 962; and the Secretary of the Treasury through May / Consists of notes issued by the: United States Information Agency for informational media guaranties (see footnote l); Secretary of Commerce (Maritime Administration) for the Federal Ship Mortgage Insurance Fund, fiscal years 9596 and 96367; Virgin Islands Corporation from September 959 September 968; District of Columbia Commissioners for the Stadium Sinking Fund beginning June 962; Secretary of the Interior (Bureau of Mines) for development and operation of helium properties beginning May 964; and Bureau of Commercial Fisheries for Federal Ship Mortgage Insurance Fund, Fishing Vessels from January 966 May 967; and revenue bonds for Smithsonian Institution (John F. Kennedy Center Parking Facilities) beginning July 968.

32 28 PUBLIC DEBT OPERATIONS. Treasury Bulletin Table PDO. Maturity Schedule of InterestBearing Marketable Public Debt Securities Other than Regular Weekly and Annual Treasury Bills Outstanding December 3, 970 (In millions of dollars) Year and month of final maturity / Description Amount of maturities Amount of maturities Held lay 2/ Year and nonwii Held bj2j of final Description maturity / U.S. Govt, accounts and All Federal Reserve banks other investors U.S. Govt, accounts and Federal Reserve banks All other investors 97 Feb... Mar... Apr... May... June... Aug... Oct... Nov Feb... May... June... Aug... Sept... Oct... 53/8$ 73/4 $ Note Note 2/2% Bond 6.452$ Bill (Tax ant. /2$ 6.504$ 5/4$ 8$ 5.970$ 8/4$ 4$ /2$ 53/8$ 37/8$ 73/4$ Note Bill (Tax ant. Note Note Bill' (Tax ant. Note Bond Note Note Bond Note ) 2/5/7C 2/5/7D 2,509 2, ,285 2,728 3/5/667,29 208,0 3/22/7 2, ,267 4//7 E A 4/22/7 5/5/7A 5/5/7E 6/22/7 8/5/7F 8/5/7 0//7E0 /5/7B /5/7 /5/7G 35 2,26 4,265 4,76 2,55 2,257 2,805 72,734 2,760 0, , ,642 35,958 2,369 3,440 2,30,922 2,96 72,44 2,230 3,0, 42,792 3,436 29,356 43/4$ 4$ 7/2$ Note Bond Note 2/5/72A 2/5/72 2/5/72C 2,006.2,344 3, ,56 2,02 3,3 975 May... Oct 976 Feb May... Aug 977 Feb Aug 980 Feb... Nov... 6$ /2$ Note Note 5/5/75B 0//75E0 6,760 4,449 2,3.,,927 6,0 5,826 6/4$ 6/2$ 7/2$ Note Note Note 2/5/76A 5/5/76B 8/5/76C 3,739 2,697 4,94 2,857 76, ,98 2,728 0,630 5,039 5,59 8$ 73/4$ Note Note 2/5/77A 8/5/77B 5,63 2,263 2, ,378,643,, 7,426 3,405 4,02 4$ 3/2$ Bond Bond 2/5/80 /5/80 /2$ No~b0 4/l/72EA ,497,479 3,08 43/4$ 63/4$ 2/2$ 4$ 2/2$ /2$ Note Note Bond Bond Bond Note 5/5/72B 5/5/72D 6/5/6772 8/5/72 9/5/6772 0//72E0 5,30 2,037,235 2,579, , ,352,90,4 2,04, ,593, ,820, June... 3/4$ Bond 6/5/7883, , May... 3/4$ 4/4$ Bond Bond 5/5/85 5/7/7585 Dec... 2/2$ Bond 2/5/6772 2, ,334 2, ,648 23,472 5,34 8, Apr... /2$ Note _ 4//73EA 34 _ 34 May... Aug... Oct... Nov... 73/4$ 8/8$ 4$ /2$ Note Note Bond Note 5/5/73A 8/5/73B 8/5/73 0//73E0 5,842,839 3, , ,204,548 3,30 30,074, Feb 3/2$ Bond 2/5/90 4,727,33 3, Aug 4/4$ Bond 8/5/8792 3,809,208 2,60 4/8$ Bond _ /5/73 4, , ,984 3,982 2,002 Feb 4$ Bond 2/5/ Feb... Apr... May... Aug... Oct... Nov... 4/8$ 73/4 $ /2$ 4/4$ 7/4$ 55/8$ /2$ Bond Note Note Bond Note Note Note 2/5/74 2/l5/74C 4//74EA 5/5/74 5/5/74D 8/5/74B 0//74E0 3,27 3,4 34 3,58 4,508 0, ,54 2,960 53/4$ Note ll/5/74a 3,98,478 2,503 37/8$ Bond /5/74 2,239 69, , ,969 3,65 4, ,937 9,948 20, May... 4/8$ Bond 5/5/8994, , Feb 3$ Bond 2/5/95,253 52,0 998 Nov... 3/2$ Bond /5/98 3, , Feb... Apr... 53/4$ /2$ Note Note 2/5/75A 4//75EA 5,48 8,652 3,496 8 Source: Daily Treasury statement and Office of Debt Analysis in the 2/ Beginning with February 969 Treasury Bulletin, the definition of Office of the Secretary. U.S. Government accounts and all other investors is in conformity / For issue date of each security, see "Market Quotations on Treasury with the unified budget concept. Securities."

33 January 97 PUBLIC DEBT OPERATIONS. 29 Table PDO2. Offerings of Treasury Bills Issue date Regular weekly: (3week and 26week) 970Sept Sept Maturity date Number of days to maturity / (Amount in millions of dollars) Description of new issue Amount of bids tendered amount Amount of bids accepted On competitive basis On noncompetitive basis 2/ In exchange %/ Amount maturing on issue date of new offering of unmatured issues outstanding after new issues r 970Dec ,379.9,80.5, , , Mar ,075.0,400.4, , , Dec ,758.0,804.7, _, ,429. ^9 7Mar. 82 2,976.3,404.7, , ,65.0 Sept Dec ,74.3,80.4, _, , Mar ,606.6,40.6 >, , ,263.3 Sept Dec ,992.,805., _,80. 23, Mar ,524.8,395.2, , ,356.0 Oct Dec ,453.3,800.9, _, , Apr. 82 2,485.6,400.7, , ,455.6 Oct Oct Oct 22 Jan ,449.2,802., _, ,427.8 Apr ,56.6,402.0, , ,552.6 y Jan ,780.2,802.5, _, ,426.9 Apr ,443.6,404.2, , ,656.0 * Jan ,55.9,80.3, , ,426.5 Apr ,00.5,40.3, , ,754.7 Hn+ 90 K Jan ,65.0,800.3, _,80. 23,425.7 Apr ,908.5,400.9, , ,854.4 KJrvTr ^ Feb ,230.0,829.7, _, ,444.5 May ,448.0,402.4, , ,955.8 M m 7 "9 Feb. 9 2,877.3 l,802.7r, _, ,446.7r May ,940.2 l,400.9r, , ,055.Or M cs\t TQ Feb ,940.,80.3, _, ,444.6r May ,272.,403.5, , ,55.Or M/ntt 9*7 * Feb ,839.0,900.7r, _,79. 23,554.2r May ,470.0,400.5r, , ,254.7r Dec. 2 V... Yaric)US 3, ,04.8, ,359.5.C Mar ,527.4,903.4, _, ,656. { June ,39.7,398.6, , ,45.7 5/ Mar. 9 2,840.9,90.5, _, ,752.9 June ,069.3,400.6, , , / n K Mar ,882.6,900.6, _, ,852. June ,343.4,400.0, , , / Don 97 * Mar ,928.2,909.6, _, ,956.7 June ,363.8,403.8, , , / (T Dan Apr. 9 2,646.2,904.5, _, ,060.3 July 82 2,00.4,402.0, , , / Tax anticipation: 970July Mar ,74.8 2,56.6 2, ,56.6 July Apr , ,26.2 2, ,777.8 Oct June , ,55. 2, , month and oneyear: TQAQ *3 f 970Sept , , Dec ,645.0, , Jan Jan ,697.9, , ,69.4 Feb ct. 3 27, ,505.0 Feb Feb ,884.0,200., , ,89.2 Mar Nov , ,504.9 Mqt» "3 f Dec , _ ,504.5 t 97Mar ,903.8,20., , ,09.7 f Jan , ,504.7 p... ^ Apr ,724.8,200.0, , ,29. May 3... May ,40.0,200.2, , ,49.0 June... Feb , ,504.3 Tnnft QH I Mar , ,504.6 June ,774.0,20.4, ,20.4 3,49.0 Tnl^r Apr , _ ,504.7 duly j±... July ,489.0,202.4, I,202. 3,49.4 May 3 273, _ ,505.4 Aug ,036.4,203.5, , ,422.4 on June , _ ,506.0 Sept ,79.6,202.5, , ,69.6 Oct Oct ,006.3,20.3, , ,88.4 Nov July 3 27, ,504.8 KTrrcr Aug , _ ,505.5 Nov ,853.7,200.5, ,00.2 4,07.8r nor> on Sept , _ ,505.7 Dec ,952.,20.2, ,002. 4,26.9 Footnotes at end of Table PDO3. (Continued on following page)

34 30 PUBLIC DEBT OPERATIONS. Treasury Bulletin Table PDO2. Offerings of Treasury Bills (Continued) Issue date Regular weekly: (3week and 26week) 970Sept. 3 Sept. 0 Sept. 7 Sept. 24 Oct. Oct. 8 Oct. 5 Oct. 22 Oct. 29 Nov. 5 Nov. 2 Nov. 9 Nov. 27 Dec. 2 Dec. 3 Dec. 0 Dec. 7 Dec. 24 Dec. 3 On total bids accepted Average price per hundred 98, 397 i96, 70 [ %, i96, ] [98,532 I96, I ( i96, ,.498 [96,.902 f98,.526 i96,.908 (98,.57 i97,.082 ( i97,.42 (98,.665 I97,.267 (98,.80 i97, ,.257 f98,.75 I97,.483 ( I ( I [ i [ ,.555 On competitive bids accepted High Equivalent average rate 6/ Price per hundred Equivalent rate 6/ Price per hundred Equivalent rate 4/ (Percent) (Percent) (Percent) / / / / / , / / Tax antic rpation: 970July July Oct. 9Month and oneyear: 969Dec. 970Jan. Feb. Feb. Mar. Mar. Apr. May June June July Aug. Sept. Oct. Nov Footnotes at end of Table PD I V / / / / / / / / / / r / / / /

35 January 97 PUBLIC DEBT OPERATIONS. 3 Table PDO3. New Money Financing through Regular Weekly Treasury Bills / (Dollar amounts in millions) Issue date Description of issue 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 () 968July July 5. fl9680ctober [969January J968October 969January 3 90 $2,9 $,60 5.*0 2 8,98, ,637, ,996, $00 July 8. r968october I969January 7 9 2,625,60 5* ,+76, July 25 /968October u.969 January 2k 9 2,869, ,365, August.. August 8.. fl968october 969January November ^969 February 3 9 2,620, ,320, ,532 ;,600 * ,279, August 5 August 22., 968 November (I969February J968 November \i969february ik 9 2,*05, ,285,0 5, ,283, ,03*, August 29.. September 5 f 968 November \969 February 968De cember 969March ,k0k, * ,27,0* 5.2* ,+93, ,709,03 5.2*9 0k 0+ September 2. September 9. September 26. J968December KL969March J968December 969 IVkrch J968December 969March 2 9 2,7+0,60 5.2*7 3 82,969, ,525, ,262,00 5.2* ,8+3,60* ,030,02 5, October 3 October 0. January April January April 2 9 2,338, ,830,0 5.28* 9 9 2,05, ,866, November 6. November 3. November 20. November February May February May February May February May 5 9 2,99l*, ,29*, ,779, lk 82 2,593,20* 7* ,655,80 7.* ,265, ,733, ,392, } 0 Ilk December *... March June 5 9 2,867, k 82 2,52, December December 8... December January 2... January 8... January January January February March 5... March March March June March June March June April July April July April July April July April July May August June September June September June September 2 9 2,380, ,097, ,666, ,76, ,44, ,872, ,426, ,26, ,720, ,54,207 7, ,876, ,59, ,60, ,532, ,775, ,264, ,573, ,958, ,458, ,92, ,986, ,832, ,05, ,685, March 26. Footnotes at end of table. June September 25 9,3,838, ,383, (Continued on following page) 96

36 32 PUBLIC DEBT OPERATIONS. Treasury Bulletin Table PDO3. New Money Financing through Regular Weekly Treasury Bills / (Continued) (Dollar amounts in millions) Issue date Description of issue Maturity date Number of days to maturity Amount of bids tendered Amount of bids accepted Average rate of bids accepted 2/ (Percent) New money increase, or decrease () 970April 2 April April 6, April April 30.. May May 4.. May 2., May 28 June 4.. June.. June 8. June 25.. July 2 July July 6, July 23.. July 30.. August 6. August 3.. August 20 August 27.. September 2 September 0,. September 7.. September 24,. October October 8... October 5... October October November 5... November 2... November 9... N ovember July October July October July October July October July October August November August August Novembe August Novembe September December October December October January 97 *970 October 97 January *970 October 97 Januaiy *970 October 97 Januaiy 970 November 97 February ^970 December 97 March k ^ ^ April January April Januaiy April January April January April February May February May February May February May 2 9 $2,604 $, ,098, ,68, ,696, ,088, ,447, ,768, ,272, ,445, ,906, ,869, ,846, ,866, ,597, ,966, ,606, ,854, ,26, ,743, ,809, ,002, ,2, ,064, ,5, / ,838, ,42, ,357, ,659, ,38, ,70, ,96, ,873, ,04, ,458, ,662, ,465, ,632, ,056, ,499, ,476, ,946, ,55, ,660, ,588, ,380, ,075, ,758, ,976, ,74, ,607, ,992, ,525, ,453, ,486, ,449, ,562, ,780, ,444, ,56, ,00, ,65, ,909, ,230, ,448, ,877, ,940, ,940, ,272, ,839, ,470, $ Footnotes at end of table. (Continued on following page)

37 January PUBLIC DEBT OPERATIONS Table PDO3. New M oney Financing through Regular Weekly Treasury Bills / (Continued) (Dollar amounts in millions) Issue date Description of issue 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 () 970December 3... f 97March 4 9 $3,527 >> $, \ June ,320, j $94 December 0... December 7... December December 3... f March 9 2,84, June ,069, j March 8 9 2,883, s \ June ,343, \ 99 f March ,928, S \ June ,364, \ 206 j April 9 2,646, s { July 82 2,00, > 203 Source: See Table PDO2. regular weekly bills for cash on December 2, 970 ($2,05 million). / Excludes issues of strips of additional amounts of outstanding, 2/ Equivalent average rate on bank discount basis. Footnotes to Table PDO2 Source: Daily Treasury statement; Bureau of the Public Debt. / The 3week bills represent additional issues of bills with an original maturity of 26weeks and the 9month bills represent additional issues of bills with an original maturity of oneyear. 2/ For 3week, 26week, 9month, and oneyear issues, tenders for $200,000 or less from any one bidder are accepted in full at average prices of accepted competitive bids; for other issues, the corresponding amount is stipulated in each offering announcement. 2d Reports of exchanges of Treasury bills were discontinued effective March 2, 970. ij Additional amounts ($300,685,000) of seven series of outstanding weekly bills issued in strip form for cash on December 2, 970. These bills mature at intervals of one week beginning January 7, 97 and ending February 8, 97 for each series respectively. / Includes strip bills issued December 2, / Bank discount basis. 7/ Except $600,000 at / Except $500,000 at and $300,000 at / Except $0,000 at and $200,000 at / Except $300,000 at / Except $780,000 at / Except $300,000 at / Except $20,000 at llj Except $,000,000 at / Except $3,000,000 at 95.H7. lg/ Except $,000 at / Except $0,000 at / Except $320,000 at and $280,000 at / Except $0,000 at / Except $0,000 at / Except $,00,000 at 9^^37. 22/ Except $800,000 at / Except $90,000 at / Except $,060,000 at and $70,000 at / Except $,000,000 at , $,000,000 at 93902, and $,000,000 at / Except $,000,000 at / Except $480,000 at / Except $800,000 at and $500,000 at r Revised.

38 34.PUBLIC DEBT OPERATIONS. Table PDO4. Offerings of Public Marketable Securities Other than Regular Weekly Treasury Bills Treasury Bulletin Date subscription books opened or bill tenders received Issue date Description of securities l/ Period to final maturity (years, months, days) 2/ Amount of subscriptions tendered Cash Exchange Amount issued For cash In exchange L/ Allotment ratio 7/2/68 7/24/68 8/5/68 8/27/68 9/24/68 IQ/ 0/7/68 0/24/68 0/28/68 /22/68 /26/68 2/23/68 /4/69 /28/69 2/3/69 2/20/69 2/25/69 3/25/69 3/26/69 0/ 4/24/69 5/5/69 5/27/69 6/24/69 7/9/69 7//69 0/23/69 0/28/69 /2/69 /25/69 2/23/69 7//68 I 7//68 [ 4/30/68 \ 7/3/68 8/5/68 f 5/3/68 \ 8/3/68 J 6/30/68 ^ 9/30/68 0//68 0/24/68 7/3/68 0/3/68 /5/68 /5/68 8/3/68 /30/68 0/24/68 f 9/30/68 2 /3l/68 0/24/68 0/3/68 /3/69 2/5/69 2/5/69 Jil/30/68 2/28/69 5/5/69 5/5/69 V 2/28/69 5/3/69 > 3/3/69 6/30/69 7/24/69 4/30/69 { 7/3/69 V 8/4/69 8/5/69 8/20/69 8/26/69 9/23/69 9/22/69 0/ { { { 4//69 /3/69 4/30/69 "7/8/69 7/8/69 0//69 0/8/69 0/4/69 0/29/69 f 7/3/69 ^0/3/69 C.0/4/69 0/29/69 8/3/69 /30/69 *9/30/69 2/3/69 Footnotes at end of table % Bill 3/24/69 Tax ant. 5/ 256d 4, % Bill 4/22/69 Tax ant. 5/ 285d 4, % Bill _ 4/30/69 Reopening 273d, % Bill 7/3/69 365d 2,945 55/8% Note 8/5/74B 6/ 6y 28,368, 7/ 5.245% Bill _ 5/3/69 Reopening 270d, % Bill 8/3/69 365d 2, % Bill _ 6/30/69 Reopening 273d, % Bill 9/30/69 365d 2,04 /2% Note 0//73 E0 5y 5.78% Bill 6/23/69 Tax ant. j?/ 242d 6, % Bill _ 7/3/69 Reopening 273d, % Bill 0/3/69 365d,990 55/8% Note _ 5/5/70B 6/ ly 6m 53/4% Note ll/l5/74a Reopening 6y 5.693% Bill _ 8/3/69 Reopening 272d, % Bill /30/69 365d, % Bill _ 6/23/69 Tax ant. 5/ 203d 4, % Bill _ 9/30/69 (BS3gSi8f 273 d, % Bill 2/3/69 365d, % Bill 6/23/69.Tax ant. 5/ vreopening; 54d 5, % Bill 0/3/69 Reopening 273 d, % Bill /3/70 365d,840 63/8% Note _ 5/5/70C 6/ ly 3m _ 6/4% Note 2/l 5/76A 6/ 7y 6.307% Bill /30/69 Reopening 275d, % Bill 2/28/70 365d, % Bill _ "Strip of 5 9.4d 2,962 series 3/ (Average) 5.030% Bill _ "Strip" of d 3,86 series 4/ (Average) 6.059% Bill _ 2/3/69 Reopening 275d, % Bill 3/3/70 365d,760 /2% Note 4//74EA 5y 5.976% Bill _ /3/70 Reopening 276d, % Bill 4/30/70 365d,878 63/8% Note _ 8/5/70D 6/ ly 3m _ 6/2 % Note 5/5/76B 7y 6.307% Bill _ 2/28/70 Reopening 27d, % Bill 5/3/70 365d, % Bill _ 3/3/70 Reopening 274d, % Bill 6/30/70 365d 2, % Bill _ 2/22/69 Tax ant. 5/ 57d 3, % Bill 3/23/70 Tax ant. V 248d 3, % Bill 4/30/70 Reopening 273d, % Bill 7/3/70 365d 2,204 73/4 % Note 2/5/7D 6/ ly 6m 5.543% Bill _ "Strip" of d series 7/ (Average) 3, % Bill _ 5/3/70 Reopening 27d, % Bill 8/3/70 365d, % Bill _ 6/30/70 Reopening 273d, % Bill 9/30/70 365d,950 8% Note _ 5/5/7E ly 7pm _ 73/4% Note 5/5/73A 3y 7Tm _ 7/2% Note 8/5/76C 6/ 6y 0jm /2% Note 0//74E0 5y 7.284% Bill 4/22/70 Tax ant. V 90d 3, % Bill 6/22/70 Tax ant. V 236d 4, % Bill _ 7/3/70 Reopening 273d, % Bill 0/3/70 365d 2, % Bill _ 4/22/70 Reopening Tax ant. j>/ 47d 2, % Bill 6/22/70 Reopening 208d 2,94 Tax ant. j>/ 7.777% Bill _ 8/3/70 Reopening 273d, % Bill /30/70 365d 2, % Bill _ 9/30/70 Reopening 273d, % Bill 2/3/70 365d,645 (Continued on following page) (in millions of dollars) 2,05 2, ,793 2,329 8,764 3, ,329 2,697 2,924 4,76,60, ,00 5,44 50,000 50,00 3,00 502, ,00 2, , , ,000,002,803 50,00 500,00 500,000 50,20,763, ,202 2,2 500,20 500, , , ,504 50,00 500,002 4,870 8/ 30,793 :,329j / 3,764* 3,739J 2/ 34 2,329 2,697i 2/ 2,924 6/ kf76[,60 > 8/,683/ 42 2/

39 January 97 PUBLIC DEBT OPERATIONS Table PDO4. Offerings of Public Marketable Securities Other than Regular Weekly Treasury Bills (Continued) 35 Date subscription books opened or bill tenders received /27/70 2/2/70 2/24/70 2/25/70 3/9/70 3/24/70 0/ 4/23/70 5/4/70 5/5/70 5/26/70 6/23/70 7/2/70 7/6/70 7/23/70 8/5/70 8/5/70 8/25/70 9/24/70 0/ 0/5/70 0/23/70 0/27/70 /5/70 /24/70 /25/70 2/23/70 Issue date Description of securities / Period to final maturity (years, months, days) 2/ Amount of, scriptions subtendered Cash Exchange Amount issued 2/ For cash In exchange y (In millions of dollars) 0/3/ $ Bill 0/3/70 Reopening 27d,344 _ 502 _ /3/ $ Bill /3/7 365d,698,003 2/5/70 8/4$ Note _ 8/5/7F iy 6m _ 2,257 _ 2,257 ^ 2/5/70 8/8$ Note 8/5/73B 3y 6m,839 _,839 >9/ ^ 2/5/70 8$ Note 2/5/77A 7y,856,856J { ( /30/ $ Bill _ /30/70 Reopening 273d,228 _ 500 _ 2/28/ $ Bill 2/28/7 365d,884,200 0/4/ $ Bill _ 4/22/70 _ Reopening 50d 3,404 _,753 Tax ant. 5/ 3/26/ $ Bill 9/22/70 Tax ant. / I80d 5,627,758 2/3/69 6.0$ Bill _ 2/3/70 _ Reopening 275d,64 _ 500 3/3/ $ Bill 3/3/7 365d,904,20 4//70 /2$ Note 4//75EA 5y 8 8 /3/ $ Bill _ /3/7 _ Reopening 276d, /30/ $ Bill 4/30/7 365d,725,200 5/5/70 73/4$ Note _ 5/5/73A _ Reopening 6/ 3y _ 4,68lp _ 4,68lp> Ion / 5/5/70 8$ Note 2/5/77A Reopening 6y 9m 3,307p 3,307pJ )20/ 5/5/70 73/4 $ Note /5/7G iy 6m 0,743p 7/ 3,679p 7,064p 8/ 2/28/ $ Bill _ 2/28/7 _ Reopening 272d,293 _ 500 _ 5/3/ $ Bill 5/3/7 365d 2,40,200 3/3/ $ Bill _ 3/3/7 _ Reopening 274d,243 _ 50 6/30/ $ Bill 6/30/7 365d,774,20 7/8/ $ Bill 3/22/7 Tax ant. 5/ 257d 4,74 2,56 7/23/ $ Bill 4/22/7 Tax ant. 5/ 273d 4,755 2,26 4/30/ $ Bill _ 4/30/7 _ Reopening 273d,597 _ 500 _ 7/3/ $ Bill 7/3/7 365d 2,489,202 8/5/70 73/4$ Note _ 2/5/74C 3y 6m _ 3,4p _ 3,4p 8/5/70 73/4$ Note 8/5/77B 6/ 7y [ ss/ 2,264p 2,264pj 8/7/70 7/2$ Note 2/5/72C 6/ iy 6m I8,8l9p ]/ 3, 84p 90p 22/ 5/3/ $ Bill _ 5/3/7 _ Reopening 273d,22 _ 50 _ 8/3/ $ Bill 8/3/7 365d 2,036,204 6/30/ $ Bill _ 6/30/7 _ Reopening 273d,70 _ 50 9/30/ $ Bill 9/30/7 365d,72,202 0//70 /2$ Note 0//75E0 5y 0/2/ $ Bill 6/22/7 Tax ant. 5/ 244d 5,593 2,55 /5/70 7/4$ Note _ 5/5/74D 3y 6m _ 4,50%) 4,5.0%n [22/ /5/70 7/2$ Note 8/5/76C Reopening 6/ 5y 9m 2,5 Ip 2,5pj 7/3/ $ Bill _ 7/3/7 _ Reopening 27d,222 _ 50 _ 0/3/ $ Bill 0/3/7 365d 2,006,20 /6/70 63/4$ Note 5/5/72D iy 6m 5,254p 2,038p 8/3/ $ Bill _ 8/3/7 _ Reopening 274d,323 _ 50 _ /30/ $ Bill /30/7 365d,854, $ Bill "Strip" of 7 27/ (Average) 57d 3,560 _ 2,05 _ series 9/30/ $ Bill _ 9/30/7 Reopening 273d,404 _ 50 _ 2/3/ $ Bill 2/3/7 365d 2,952,20 Allotment ratio 00 2/ 00 W 00 26/ Footnotes on following page.

40 36 PUBLIC DEBT OPERATIONS Treasury Bulletin Footnotes to Table PDO4 Source: Bureau of the Public Debt. l V / 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. For details 5/ of bill offerings, see Table PDO2. 2/ From date of additional issue in case of a reopening. 6/ 2/ In reopenings, the amount issued is in addition to the amount of original offering. 7/ V For securities exchanged for the new issues, see Table PDO8. 5/ Tax anticipation bill, acceptable at face value in payment of income taxes due on the 5th of the month in which the bills mature. 3/ 6/ Price at which issued appears in Table PD05. 2/ Payment for subscriptions allotted could be made in cash or in Treasury bonds or notes, maturing on the issue date of the new security. 2/ 8/ Consists of allotments paid for with Treasury bonds or notes maturing on issue date of new security. 9/ As provided in the offering circular subscriptions were allotted in 0/ full ( ) for States, political subdivisions or instrumentalities thereof, public pension and retirement and other public funds, 2/ international organizations in which the United States holds membership and foreign central banks and foreign states where the sub 2/ scriber certified that it owned securities maturing August 5, 968, these totaled $23 million, (2) for Federal Reserve banks and Government accounts, these totaled $4,8 million, and (3) those for 2/ $250,000 or less. All other subscriptions were allotted 8 percent but in no case less than $250,000. 2^/ 0/ Exchange offering available to owners of nonmarketable 23/4$ Treasury bonds, Investment Series B97580, dated April, 95. For further information on the original offering see Treasury Bulletin for April 22/ 95, page Al. Amounts shown are as of December 3, 970. / Includes $5,336 million of the 55/8$ notes and $,043 million of the & / 53/4$ notes allotted to Federal Reserve banks and Government accounts. 2/ Includes $6,05 million of the 63/8$ notes and $2,833 million of the 22/ 6/4$ notes allotted to Federal Reserve banks and Government accounts. 2/ Sale of a "strip" of Treasuiy bills consisting of an additional $200 million of series maturing on April 30, May 3 June 30, July 3, and P August 3, 969. Sale of a "strip" of Treasuiy bills consisting of an additional $300 million of series maturing on May 8, May 5, May 22, May 29, June 5, and June 2, 969. Includes $26 million of the 63/8% notes and $473 million of the 6/2% notes allotted to Federal Reserve banks and Government accounts. Includes $25 million allotted to Federal Reserve banks and Government accounts. Sale of a "strip" of Treasuiy bills consisting of an additional $303 million of series maturing on September 8 and 25, and October 2, 9, 6, 23, and 30, 969. Includes $565 million of the 8% notes, $25 million of the 73/4$ notes, and $564 million of the 7/2$ notes, allotted to Federal Reserve banks and Government accounts. Includes $292 million of the 8/4$ notes, $288 million of the 8/8$ notes, and $458 million of the 8$ notes, allotted to Federal Reserve banks and Government accounts. Includes $2,42 million of the 73/4$ notes and $2,25 million of the 8$ notes allotted to Federal Reserve banks and Government accounts. All subscriptions were allotted in full. Subscriptions for Government accounts and Federal Reserve banks totaled $7,005 million. Includes $5 million of the 2/5/74C notes and $479 million of the 8/5/77B notes allotted to Federal Reserve banks and Government accounts. This is amount of bonds and notes maturing August 5, 970 exchanged by Federal Reserve banks and Government accounts. Subscriptions from the public for $200,000 or less were allotted in full and those above that amount were allotted 9/2$ but not less than $200,000. Includes $842 million of the 7/4$ notes and $8 million of the 7/2$ notes allotted to Federal Reserve banks and Government accounts. Sold at auction through competitive and noncompetitive bidding. Prices accepted ranged from (yield 6.09$) down to (yield 6.26$). Sale of a "strip" of Treasuiy bills consisting of an additional $30 million of series maturing on January 7, 4, 2, and 28, and Februaiy 4,, and 8, 97. Preliminary.

41 January 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 )unt issued millions) Average price per hundred Effective interest rate Eligible securities exchanged 53/8$ Note 73/4$ Note 2/5/7C 2/5/7D 8/30/67 8/5/69 $2,509 $ $ / 2, $ Note 8/5/69C 5/4$ Note 37/8$ Bond 73/4$ Note /4$ Note 7/2$ Note 43/4$ Note 63/4$ Note /4$ Note 5/5/7A /5/7 2/ /5/7G 2/5/72A 2/5/72C 5/5/72B 5/5/72D ll/l5/73a 2/ 8/5/66 5/5/62 < 2/5/62 5/5/70 2/5/67 8/7/70 5/5/67 /6/70 5/5/70 {. { C ( r { { /4$ Cert. /5/66A $ Note ll/5/66e /8$ Bond /5/66, $ Cert. _ 5/5/62A $ Note 5/l5/62E /4$ Bond 6/5/62, Series F & G savings bonds * / 4 3,679p / 909p /8$ Note 5/5/70B 6,56p /8$ Note 5/5/70C 0,743p, / /8$ Note 2/5/67B ,84 4$ Note 2/5/67C 2,006 lop /8$ Note _ 8/5/70D I80p $ Bond 8/5/70 3,l84p / 3,374p /2$ Bond 6/5/ /4$ Cert. 8/5/67A /4$ Note 8/5/67A /8$ Note 8/5/67E,804 2,038p / 3,497p /8$ Note _ 5/5/70B l,l85p /8$ Note 5/5/70C 4,68lp 974 4/4$ Bond 5/5/74 5/5/ /8$ Note 5/5/65A, /8$ Note 5/5/65C 2,062 55/8$ Note 8/5/74B 8/5/68 5, =/ 4, /4$ Note 8/5/68C /4$ Bond 8/5/68 37/8$ Bond /5/74 2/ /5/6 0, /2$ Bond /5/ /4$ Note 976 6/4$ Note 2/5/75A 2/5/76A 2/5/68 2/5/69 { c /4$ Note _ 8/5/68C, /4$ Bond 8/5/ /4$ Note /5/68D /8$ Bond /5/68 2,977 3, /8$ Note _ 2/5/69A $ Bond 2/5/69 3,739 Footnotes at end of table. (Continued on following page)

42 38 PUBLIC DEBT OPERATIONS Treasury Bulletin 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 976 7/2$ Note 8/5/76C r 0//69 r $2,09 L 57, c 73/4$ Note 8/5/77B 8/5/70 752p L!>52p 2,264p 980 4$ Bond 2/5/80 2/ f /23/ J2/5/ $ $ /2$ Note 4$ Bond 2/2$ Bond 0//69E0 0//69 2/5/6469 / U.l/5/70 2,5p S 5$ Note ll/5/70a { /4$ Bond 5/5/85 6/3/58, / 4/4$ Bond 8/5/8792 2/ 8/5/ f ; L $ Bond 2/5/8893. /7/ / 989 4/8$ Bond 5/5/8994 4/8/ / /8$ Note 4$ Bond / Series F & G savings bonds / 4$ Note 3/4$ Note / 8/5/70D 8/5/70 8/5/62B 8/5/62G l/ Issued for cash. 2/ Additional issue. jjj/ To adjust for market value of bonds, subscribers were paid $2.20 per $,000 face value exchanged. * Less than $500,000. p Preliminary.

43 January PUBLIC DEBT OPERATIONS. Date of financing Table PDO6. Allotments by Investor Classes on Subscriptions for Public Marketable Securities Description of securities Amount issued In exchange For for cash other securities Part A. Other than Treasury Bills / U.S. Government accounts and Federal Reserve Banks 2/ (In million of dollars) Commercial banks y Individuals y Insurance companies Allotments by investor classes Mutual savings banks Corporations 5/ Private pension and retirement fund State and local governments 6/ Pens ion and retire ment funds Other funds Dealers and brokers 8/5/68 55/8$ Note 8/5/74B */ 5,44 4,870 4,8 2, IU/O/DO f55/8$ Note _ 5/l5/70B _ 7,793 5,336, \53/5$ Note 9/ /5/74A 2,329, O/ic /AQ f63/8% Note _ 5/5/70C _ 8,764 6,88, \6l/4$ Note 2/5/76A 3,739 2, c;/ic /(C.Q [63/8% Note _ 8/5/70D _ 2, , ?/±2/ Oy \6l/2$ Note 5/5/76B 2, , /5/69 73/4$ Note 2/5/7D 2,924 25, (8% Note _ 5/5/7E _ 4, , //69 <73/4* Note 5/5/73A, V7l/2$ Note 8/5/76C, /4$ Note _ 8/5/7F _ 2,257p 292, /5/70 <8/8$ Note 8/5/73'B l,839p \8% Note 2/5/77A l,856p (73/4$ Note _ ll/l5/7g 3,679p 7,064p 7,005 2, /5/70 <73/4$ Note 5/5/73A 2/ 4,68lp 2,42, \8$ Note 2/5/77A 2/ 3,307p 2, A / ^ M n 73/ 4$ Note _ 2/5/74C _ 3,4p 50, / JP/ ru \73/4$ Note 8/5/77B 2,262p /7/70 7/2$ Note 2/5/72C 3,72p 90p 90, n /i ^ /nc\ /7/ 4$ Note _ 5/5/74D Q/ _ 4,5p 838 2, ±x/±?/ /u (7/2$ Note 8/5/76C 2J 2,52p 8, /6/70 63/4$ Note 5/5/72D 2,038p, * All other u Source: Based on subscription and allotment reports. For detail of offerings see Table PD04. / Excludes /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. ij Includes partnerships and personal trust accounts. *)J Exclusive of banks and insurance companies. 6/ Consists of trust, sinking, and investment funds of State and local governments and their agencies. 7/ Includes savings and loan associations, nonprofit institutions, and investments of foreign balances and international accounts in this country. Also included are certain Government deposit accounts and Governmentsponsored agencies. 8/ Offerings subject to allotment, were made for the purpose of paying off maturing securities in cash. Holders of the maturing securities were not offered preemptive rights to exchange their holdings but were permitted to present them in payment of exchange, in whole or in part, for the new issues. 2/ Reopening of earlier issue. * Less than $500,000. p Preliminary.

44 40 Treasury Bulletin PUBLIC DEBT OPERATIONS Table PDO6. Allotments by Investor Classes on Subscriptions for Public Marketable Securities Part B. Treasury Bills Other than Regular Weekly Series (in millions of dollars) amount issued Allotments by investor classes Date of financing Date of maturity Average rate Oneyear series' 9month series / Tax anticipation series Other series U.S. Government accounts and Federal Reserve Banks 2/ Commercial banks Corporations 3/ Dealers and brokers All other 4/ (Percent) 7/3/68 f 4/30/69 \ 7/3/ , /3/68 f 5/3/69 ^ 8/3/ , /30/68 f 6/30/69 9/30/ , /24/68 6/23/ ,00 2,979 3 * 28 0/3/68 f 7/3/69 ^0/3/ , /30/68 f 8/3/69 ^/30/ , /2/68, 6/23/ ,00 j>/, /3/68 r 9/30/69 ^2/3/ * /20/69 6/23/ ,759 i/,755 2 X 2 /3/69 fl 0/3/69 ^ /3/ , /28/69 f /30/69 ^ 2/28/ , /3/69 6/ 5.907, * 2 3/3/69 /l 2/3/69 ^ 3/3/ , /30/69 f /3/70 ^ 4/30/ , X /3/69 f 2/28/70 ^ 5/3/ , /30/69 f 3/3/70 t 6/30/ , # /8/69 f 2/22/69 { 3/23/ ,763,752,733, /3/69 f 4/30/70 ^ 7/3/ , /3/69 f 5/3/70 ^ 8/3/ , /30/69 f 6/30/70 ^ 9/30/ , /4/69 4/22/ ,007 2, /29/69 6/22/ ,004 2, /3/69 f 7/3/70 ^0/3l/ , /26/69 0^ ^ W M m ro O O ,007 i/,504 i/,002, /30/69 f 8/3/70 ^/30/ , * /3/69 r 9/30/70 [ 2/3/ , Footnotes at end of table. (Continued on following page)

45 January 97 PUBLIC DEBT OPERATIONS 4 Table PDO6. Allotments by Investor Classes on Subscriptions for Public Marketable Securities Part B. Treasury Bills Other than Regular Weekly Series (Continued) (In millions of dollars) amount issued Allotments by investor classes Date of financing Date of maturity Average rate (Percent) Oneyear series 9month series 2/ Tax anticipation series Other series U.S. Government accounts and Federal Reserve Banks 2/ Commercial banks Corporations 3/ Dealers and brokers All other y /3/70 0/3/70 ^ /3/ , /28/70 f /30/70 ^ 2/28/ , /3/70 4/22/ ,753 i/, /26/70 9/22/ ,758, /3/70 f 2/3/70 ^ 3/3/ , /30/70 ( /3/7 ^ 4/30/ , # /3/70 f 2/28/7 V 5/3/ , /30/70 f 3/3/7 ^ 6/30/ , /8/70 3/22/ ,57 2, /23/70 4/22/ ,26 2, /3/70 f 4/30/7 ^ 7/3/ , /3/70 f 5/3/7 ^ 8/3/ , /30/70 f 6/30/7 ^ 9/30/ , /2/70 6/22/ ,55 2,50 5 0/3/70 f 7/3/7 (0/3/ , /30/70 f 8/3/7 ^/30/ , /3/70 f 9/30/7 ^2/3/ , L Source: Based on subscription and allotment reports. For detail of counts and Governmentsponsored agencies, formerly included with offerings see Table PD04. Government investment accounts. / Reopening of oneyear series. 5/ Reopening of earlier issue. 2J Includes trust funds and accounts that comprise Government accounts 6/ Offering consists of a "strip" of additional $200 million each of bills under the unified budget concept. maturing April 30, May 3, June 30, July 3, and August 3, 969. J/ Exclusive of banks and insurance companies. * Less than $500,000. V Included with all other investors are certain Government deposit ac

46 42 PUBLIC DEBT OPERATIONS. Table PDO7. Disposition of Public Marketable Securities Other than Regular Weekly Treasury Bills Treasury Bulletin Date of refunding or retirement 7/3/68 8/5/68 8/3/68 9/30/68 0//68 0/3/68 /5/68 /30/68 2/5/68 2/3/68 /3/69 2/5/69 2/28/69 3/24/69 3/3/69 4//69 4/22/69 4/30/69 5/5/69 5/3/69 6/5/69 6/23/69 6/30/69 7/3/69 8/5/ $ Bill 5.33$ Bill 4/4$ Note 33/4$ Bond # Bill 5.422$ Bill f 5.24$ Bill 5.555$ Bill /2$ Note 5.30$ Bill 5.254$ Bill ( 5/4$ Note (37/8$ Bond ( f /2$ Bond 5.43$ Bill 5.240$ Bill 2/2$ Bond 5.544$ Bill 5.423$ Bill 5.267$ Bill 5.665$ Bill p5/8$ Note. Bond 5.3 t..079$ Bill 5.245$ Bill.907$ Bill 2/2$ Bond I ( Bill Bill Bill 5.732$ Bill 5.202$ Bill 5.907$ Bill 5.30$ Bill 5.446$ Bill 5.907$ Bill 6$ Note Called or maturing securities l/ Description 7/3/68 7/3/68 8/5/68C 8/5/68 8/3/68 8/3/68 9/30/68 9/30/68 0//68E0 0/3/68 0/3/68 /5/68D /5/68 2/5/68 /30/68 /30/68 2/5/68 2/3/68 2/3/68 /3/69 /3/69 2/5/69A 2/5/69 5/3/69 5/3/69 5/3/69 6/23/69 6/23/69 6/23/69 6/30/69 6/30/69 6/30/69 7/3/69 7/3/69 7/3/69 8/l5/69C Issue date 7/3/67 7/3/67 5/5/67 4/3/62 8/3/67 8/3/67 9/30/67 9/30/67 0//63 0/3/67 0/3/67 5/5/67 9/5/63 2//42 /30/67 /30/67 2//42 2/3/67 2/3/67 /3/68 /3/68 /5/67 8/5/62 5/3/68 5/3/68 5/3/68 4/5/43 0/24/68 0/24/68 0/24/68 6/30/68 6/30/68 6/30/68 7/3/68 7/3/68 7/3/68 5/5/68 Amount outstanding, ,936 2,640 8,576, , , ,984,58,787,929, , , ,733 3,728 4,466 Bill 2/28/69 2/29/68,002 Bill 2/28/69 2/29/ Bill 3/24/69 7//68 2,05 Bill 3/3/69 3/3/68,000 Bill 3/3/69 3/3/ Note 4/l/69EA 4//64 6 Bill 4/22/69 7//68 2,05 Bill 4/30/69 4/30/68,00 Bill 4/30/69 4/30/ Bill 4/30/69 4/30/ Note 5/5/69B 2/2/68 4,277 Bond 6/5/69 4/5/43 2,54 6,88, ,00 2,00,759, , ,366 Disposition offers by Treasury Cash retirement Exchange security offered (in millions of dollars) i,00^ /, 5oy^ I, <, ,002^ 500,000,002V, 500j^ / 5,936 2,640,000^, 500j^ /,00^ 500 h/ 20QJ,002^ 50»/ 200/ 966,002^ 50 h/ 200/ i,oor\ 502 b/ 200/ 8,576 A/ 8,984,58,787,929 0,738 3,728 4,466 4,277 2,54 6,88 3,366 Results of exchange offers Exchanged 4, ,870~ 0,22 2,502,703,748^ ,026 2,924 Turned in for cash 2/,494 2,22 3,706 V ,000,964~ Description of new securities offered (See also Table PDO4) Note 8/5/74B J55/8$ Note B970 L53/4$ Note A974 (55/8$ Note B970 V53/4$ Note A974 /55/8$ Note B970 \53/4$ Note A974 (7,793 of 55/8$ Note \2,329 of 53/4$ Note Note C970 Note A976 Note C970 Note A976 8,764 of 63/8$ Note 3,739 of 6/4$ Note 63/8$ Note )6l/2$ Note 63/8$ Note [6/2$ Note /2,329 of 63/8$ Note 2,697 of 6l/2$ Note D970 B976 D970 B /4$ Note D97 Footnotes at end of table. (Continued on following page)

47 January 97 PUBLIC DEBT OPERATIONS Table PDO7. Disposition of Public Marketable Securities Other than Regular Weekly Treasury Bills (Continued) 43 Date of refunding or retirement 8/3/69 9/30/69 0//69 0/3/69 /30/69 2/5/69 2/22/69 5.5$ 5.693$ 5.907$ 5.08$ 6.483$ Called or maturing securities / Description Bill Bill Bill Bill Bill 8/3/69 8/3/69 8/3/69 9/30/69 9/30/69 Issue date 8/3/68 8/3/68 8/3/68 9/30/68 9/30/68 Amount outstanding, ,, /2$ Note 0//69E0 0// $ Bond 0//69 0//57 6;,240 2/2$ Bond 2/5/69 9/5/43 2, $ 6.95$ *5.567$ 6.307$ 2/2$ 6.775$ Bill Bill Bill Bill Bond Bill 0/3/69 0/3/69 /30/69 /30/69 2/5/69 2/22/69 0/3/68 0/3/68 /30/68 /30/68 9/5/43 7/8/69, , ,763 Disposition offers "by Treasury Cash retirement Exchange security offered (In millions of dollars),000^ 505 h / 200 J, /, , 00^ ,763 6/ 59 6,240 2,484 Results of exchange offers Exchanged ( I r 3, i64> < 869 } L,09 J f < 96rl 279 ) I 57lJ 7,020 Turned in for cash 2/ 92,097,90 Description of new securities offered (See also Table PDO4) 8$ Note E97 73/4$ Note A973 7/2$ Note C976 8$ Note E97 73/4$ Note A973 7/2$ Note C976 8$ Note E97 73/4$ Note A973 7/2$ Note C976 4,76 of 8$ Note,60 of 73/4$ Note,683 of 7/2$ Note 2/3/ $ 6.059$ Bill Bill 2/3/69 2/3/69 2/3/68 2/3/ " 3/ 50 Z27 /3/70 2/5/70 2/28/70.3/5/70 3/23/70 3/3/70 4//70 4/22/7O 4/30/70 5/5/70 5/3/70 6/22/70 6/30/70 7/3/70 8/5/70 8/3/70 ( "6.44$ Bill Bill 2/2$ Bond 6.235$ 6.307$ 2/2$ 7.202$ 6.32$ 7.387$ /2$ '7.284$ 7.84$.6.549$ 5.930$ 7.407$ { 55/8$ Bill Bill Bond Bill Bill Bill Bill Bill Bill Bill Bill 63/8$ Note $ 7.387$ '7.204$ $ 7.357$ 7.33$ 7.244$ Bill Bill Bill Bill Bill Bill Bill Bill 3/8$ Note Bond $ Bill 7.777$ Bill /3/70 /3/70 2/5/70 3/5/70 2/28/70 2/28/70 3/5/70 3/23/70 3/3/70 3/3/70 4//70EA 4/22/70 4/22/70 4/22/70 4/30/70 4/30/70 5/5/70 5/5/70 5/3/70 5/3/70 6/22/70 6/22/70 6/30/70 6/30/70 7/3/70 7/3/70 8/5/70 8/5/70 8/3/70 8/3/70 /3/69 /3/69 /5/65 2//44 2/28/69 2/28/69 2//44 7/8/69 3/3/69 3/3/69 4//65 0/4/69 0/4/69 0/4/69 4/30/69 4/30/69 /5/68 2/5/69 5/3/69 5/3/69 0/29/69 0/29/69 6/30/69 6/30/69 7/3/69 7/3/69 5/5/69 6/20/63 8/3/69 8/3/69, ,38 2,280 6,66, ,752, ,753, ,793 8,764 6,557, ,004,504,20 500, ,329 4,29 6,458,20 50,000^ 0/ 500 J,000 I 500J 30,752 l,00ll 50 I 2,ocyn,007 >2/,753J,00 I 500 I /,000 I 500! 3,004,504,20 500,202^ 500 I T ^ O l T / 50J 27 4,38 2,280 6,66 7,793 8,764 6,557 2,329 4,29 6,458,582^,250.,4 V } 75J ( D 5,952 3,496pl 2,67tf,85a 636 JJ 7,988p,29p 752j l,850p,52d 5,405p l,626p 6,943p 8,569p 7/ 767p l,053p 8/ /4$ Note l/8$ Note $ Note /4$ Note /8$ Note $ Note 2,257 of 8/4$ Note,839 of 8/8$ Note,856 of 8$ Note 73/4$ Note 5 Note 73/4$ Note ; Note 4,68lp of 7 3,307p of 8$ 73/4$ Note 73/4$ Note 73/4$ Note 73/4$ Note Note Note 3,4p of Note C974 2,264p of Note B977 Fl97 Bl973 A977 F97 B973 A977 A973 A977 A973 A977 C974 B977 C974 B977 Footnotes at end of table. (Continued on following page)

48 44 PUBLIC DEBT OPERATIONS Table PDO7. Disposition of Public Marketable Securities Other than Regular Weekly Treasury Bills (Continued) Treasury Bulletin Date of refunding or retirement 9/23/70 9/30/70 0//70 0/3/70 /5/70 /30/70 2/3/ % Bill f l. 350% Bill JJ.80% Bill /2% Note 7.27% Bill 7.724% Bill ( f.59% \6.995% f 7.56% l 6 : Called or maturing.securities l/ Description Bill Bill Bill Bill 9/23/70 9/30/70 9/30/70 0//70E0 0/3/70 0/3/70 ll/l5/70a /30/70 /30/70 2/3/70 2/3/70 Issue date 3/26/70 9/30/69 9/30/69 0//65 0/3/69 0/3/69 2/5/66 /30/69 /30/69 2/3/69 2/3/69 Amount outstanding,758, , ,675,00 500, Disposition offers by Treasury Cash retirement Exchange security offered Results of exchange offers Exchanged (In millions of dollars),5$ 6/ lj005l 500j 3 ^ o o i U / 502j2/ l,00l\ 500f,002V 500[ Source: Daily Treasury statement and Bureau of the Public Debt. 7/ l/ Original call and maturity dates are used. 2/ All by investors other than Federal Reserve banks. Rolled over into 9month and oneyear bills (see Table PDO4). % Holders of the maturing securities were not offered preemptive rights to exchange their holdings, but were permitted to present them in payment or exchange, in whole or in part, for the new securities offered. 8/ 5/ Excess of maturing securities over allotments of new securities paid for with the maturing securities. Tax anticipation issue: for detail of offerings beginning July 968, g see Table PD04; for amounts redeemed for taxes and for cash see "Note" below. p Turned in for ce.3h.2j Description of new securities offered (See also Table PDO4) 7,675 7,09p 656p A $4,508p million 7 /4$ Note D974 $2,5Hp million 7 l/2$ Note C.976 Of this amount $909 million of the 55/8$ notes and $6,56 million of the 63/8$ notes were submitted in payment for subscriptions allotted for the 73/4$ Treasury Notes of Series G97 which were offered on a cash basis. Holders of the maturing notes were not offered preemptive rights to exchange their holdings for the new notes. (For detail of offering see Table PD04). Of this amount $0 million of the 63/8$ notes and $80 million of the 4$ bonds were exchanged by Federal Reserve banks and Government accounts for 7f$ notes of Series C972. Other holders of the maturing securities were not given preemptive rights to exchange their holdings for the 7 $ notes. Preliminary. Note: Information on retirement of tax anticipation issues referred to in footnote 6, in millions of dollars: Date of retirement Securities amount retired Redeemed for taxes Redeemed for cash 3/24/69 Bill 2,05 826,89 4/22/69 Bill 2, * 6/23/69 6/23/69 6/23/69 Bill Bill Bill 3,0o\ 2,00),759/ 2,099 ^,672 2/22/69 Bill, ,299 3/23/70 Bill, ,327 4/22/70 4/22/70 4/22/70 6/22/70 6/22/70 Bill Bill Bill Bill Bill 2,007!,007),753/ 3,004 l,504j,35 3,632,222 3,286 9/23/70 Bill, ,008

49 January PUBLIC DEBT OPERATIONS. Table PDO8. Foreign Series Securities (Nonmarketable) Issued to Official Institutions of Foreign Countries (Payable in U.S. Dollars) Month of activity Securities Issue date Maturity date Interest rate Issued Amount outstanding end of month (Percent) (in millions of dollars) 968July. Aug. Sept. Notes c Certificates of indebtedness Notes Certificates of indebtedness Certificates of indebtedness { 5/3/68 7//68 7/2/68 4/26/68 4/30/68 5/29/68 6/5/68 6/7/68 6/8/68 6/9/68 6/20/68 6/24/68 6/27/68 7//68 7/2/68 7/9/68 7/0/68 7/6/68 7/8/68 7/23/68 7/26/68 7/29/68 7/29/68 7/30/68 7/30/68 7/3/68 ^ 7/3/68 ~ 5/3/68 ^ 7//68 7/6/68 7/8/68 7/23/68 7/26/68 7/29/68 7/29/68 7/30/68 7/30/68 7/3/68 7/3/68 8//68 8/2/68 8/5/68 8/9/68 8/3/68 8/5/68 8/6/68 8/6/68 8/9/68 8/20/68 8/20/68 8/26/68 8/26/68 8/30/68 8/30/68 6/24/68 8/6/68 8/20/68 8/26/68 8/28/68 8/30/68 8/30/68 9/3/68 9/5/68 9/5/68 9/0/68 9/3/68 9/3/68 9/6/68 9/7/68 9/9/68 9/20/68 9/20/68 9/23/68 9/24/68 9/25/68 9/25/68 9/25/68 9/26/68 9/26/68 9/26/68 3/3/70 /2/73 /2/73 7/26/68 7/30/68 8/29/68 9/5/68 9/9/68 9/8/68 9/9/68 8/20/68 9/24/68 8/20/68 0//68 8/20/68 8/20/68 9/5/68 8/ 20/68 8/ 20/68 8/20/68 8/20/68 8/20/68 9/5/68 8/20/68 9/5/68 8/20/68 9/6/68 3/3/70 0//68 8/20/68 8/20/68 8/20/68 8/20/68 8/20/68 9/5/68 8/20/68 9/5/68 8/20/68 9/6/68 9/6/68 9/5/68 9/5/68 9/5/68 9/6/68 9/5/68 9/6/68 9/5/68 9/6/68 9/5/68 9/6/68 9/5/68 9/2/68 9/6/68 9/5/68 9/6/68 9/5/68 0/30/68 9/24/68 9/6/68 9/6/68 9/6/68 9/6/68 9/5/68 0/30/68 2/3/68 9/6/68 2/5/68 2/5/68 2/0/68 9/6/68 2/0/68 0/8/68 2/7/68 2/7/68 0/8/68 2/7/68 0/8/68 0/8/68 0/8/68 /0/68, 2/7/68 0//68 0/8/68 2/0/68 (Continued on following page) o ,337,673

50 46 PUBLIC DEBT OPERATIONS. Table PDO8. Foreign Series Securities (Nonmarketable) Issued to Official Institutions of Foreign Countries ~(Continued) Treasury Bulletin (Payable in U.S. Dollars) Month of activity Notes Securities Issue date 9/27/68 L 9/30/68 f 9/9/68 9/9/68 9/0/68 9/26/68 9/27/68 Maturity date 0//68 0//68 /5/70 3/9/73 /5/70 /30/70 3/27/73 Interest rate (Percent) Issued Amount outstanding Retired end of month T (In millions of dollars) 968Oct. Certificates of indebtedness Notes Certificates of indebtedness Notes Bonds 9/6/68 9/9/68 9/20/68 9/20/68 9/23/68 9/24/68 9/25/68 9/25/68 9/25/68 9/26/68 9/26/68 9/26/68 9/27/68 9/30/68 0//68 0/2/68 0/7/68 0/8/68 0/8/68 0/9/68 0/0/68 0//68 0//68 0/4/68 0/5/68 0/8/68 0/22/68 0/23/68 0/25/68 0/28/68 0/28/68 0/29/68 0/30/68 0/30/68 0/3/68 0/3/68 t0/3/68 0/9/68 ' 0/8/68 0/22/68 0/23/68 0/28/68 0/28/68 0/29/68 0/30/68 0/30/68 0/3/68 0/3/68 0/3/68 /4/68 / 6/68 / 8/68 /2/68 / 2/68 /4/68 /4/68 /4/68 /8/68 /9/68 / 20/68 / 20/68 / 2/68 /2/68 / 22/68 /25/68 /26/68 /29/68 /29/68 /29/68 / 22/68 9/6/64 0/8/68 2/7/68 0/8/68 2/7/68 0/ 8/68 0/8/68 0/8/68 2/0/68 2/7/68 0//68 0/8/68 2/ 0/68 0//68 0//68 2/6/68 2/ 6/68 2/6/68 2/6/68 /7/69 2/6/68 2/6/68 2/ 0/68 2/7/68 2/ 0/68 2/6/68 2/6/68 2/6/68 2/6/68 2/ 7/68 2/6/68 2/ 7/68 2/6/68 2/6/68 /30/69 2/6/68 2/ 7/68 /30/69 4/9/73 /7/69 2/6/68 2/6/68 2/6/68 2/7/68 2/6/68 2/6/68 /30/69 2/6/68 2/ 7/68 /30/69 2/6/68 2/6/68 2/6/69 2/6/68 2/6/69 2/6/68 /30/69 2/6/69 /30/69 2/9/69 2/6/69 2/20/69 /30/69 2/6/69 2/2/69 2/24/69 2/27/69 2/6/69 2/20/69 2/24/69 5/22/73 / / ),702 )2,234 (Continued on following page)

51 January 97 PUBLIC DEBT OPERATIONS 47 Month of activity Table PDO8. Foreign Series Securities (Nonmarketable) Issued to Official Institutions of Foreign Countries (Continued) Securities date (Payable in U.S. Dollars) lia OUT L date Amount Liiuors s u rate Issued Retired rotal outstanding < 3nd of month (Percent) (In millions of dollars) r 0/ 8/68 /7/ _ II/I4/68 2/6/ ) /20/68 2/6/ /20/68 2/20/ * 300 /2/68 2/6/ /22/68 2/2/ /25/68 2/24/ _ 2 /29/68 2/6/ _ /29/68 /29/68 2/20/69 2/24/ /2/68 2/9/ /2/68 2/20/ /2/68 2/24/ /3/68 2/9/ Dec i Certificates of indebtedness 2/3/68 2/24/ /4/68 2/9/ { 2/5/68 3/5/ ) 2,4 2/6/68 2/20/ /9/68 2/9/ /9/68 2/20/ //68 3/0/ //68 3// /6/68 2/9/ _ 2/6/68 3/0/ /6/68 3/7/ /7/68 3/7/ /7/68 3/7/ /8/68 3/7/ /9/68 3/7/ /23/68 2/9/ /26/68 2/9/ /27/68 2/9/ /30/68 2/9/ /3/68 2/9/ Jan V * 3/3/66 2/3/ _ 40 5/3/68 3/3/ * 2/6/68 4/30/ /20/68 4/30/ Notes 2/23/68 4/30/ /24/68 6/25/ /27/68 6/27/ /3/68 /2/ J.2/3/68 7/2/ Certificates of indebtedness Al/9/68 2/9/ _ 40 /29/68 2/6/ /9/68 2/9/ //68 3/0/ _ 29 2/6/68 2/9/ _ 2/6/68 3/0/ /7/68 3/7/ /7/68 3/7/ _ 5 2/8/68 3/7/ /23/68 2/9/ _ 24 /3/69 2/8/ /3/69 2/9/ /6/69 2/8/ /6/69 4/3/ _ /7/69 2/8/ /8/69 2/8/ /8/69 4/3/ / /0/69 2/8/ ) /3/69 2/8/ /3/69 4/4/ /6/69 4/3/ _ /7/69 4/3/ _ /20/69 4/3/ _ /2/69 4/3/ _ /22/69 4/3/ _ /23/69 4/3/ _ /24/69 2/8/ /24/69 2/9/ /24/69 4/3/ /27/69 /27/69 2/8/69 4/3/ /28/69 /28/69 2/8/69 4/3/ _ /29/69 2/8/ /30/69 4/3/ _ V^l/3/69 2/8/ /26/68 2/27/ /29/68 2/20/ /2/68 2/20/ /6/68 2/20/ >'2,25 > (Continued on followir^ page)

52 48 PUBLIC DEBT OPERATIONS T able PDO8. Foreign Series Securities (Nonmarketable) Issued to Official Institutions of Foreign Countries (Continued) Treasury Bulletin (Payable in U.S. Dollars) Month of activity 969Feb. Securities Certificates of indebtedness Issue date 2/9/68 2/7/68 2/8/68 2/9/68 2/23/68 2/26/68 2/27/68 2/30/68 2/3/68 /3/69 /24/69 /29/69 /3/69 2/3/69 2/3/69 2/3/69 2/4/69 2/5/69 2/6/69 2/6/69 2/7/69 2//69 2//69 2/3/69 2/4/69 2/7/69 2/7/69 2/8/69 2/8/69 2/8/69 2/9/69 2/9/69 2/20/69 2/2/69 2/24/69 2/25/69 2/26/69 2/26/69 2/27/69 Maturity date 2/20/69 3/7/69 3/7/69 3/7/69 2/9/69 2/9/69 2/9/69 2/9/69 2/9/69 2/9/69 2/9/69 2/8/69 2/8/69 2/8/69 4//69 4/3/69 4//69 4//69 2/8/69 4//69 4//69 2/8/69 4//69 4//69 4//69 2/8/69 4//69 4//69 5/9/69 5/20/69 5/9/69 5/2/69 5/20/69 5/23/69 5/20/69 4//69 5/9/69 5/20/69 5/27/69 Interest rate (Percent) Issued i Amount outstandirg Retired end of month I (in millions of dollars) >2,256 Certificates of indebtedness Notes /6/69 /8/69 /6/69 /7/69 /20/69 /2/69 /22/69 /23/69 /24/69 /27/69 /28/69 /30/69 2/3/69 2/8/69 2/8/69 2/9/69 2/25/69 2/26/69 3/3/69 3/4/69 3/5/69 3/6/69 3/7/69 3/7/69 3/0/69 3/2/69 3/3/69 3/3/69 3/3/69 3/20/69 3/20/69 3/24/69 3/24/69 3/26/69 3/27/69 3/3/69 ^3/3/69 f 5/3/68 / 6/28/68 \ 9/27/68 2/9/69 2/20/69 2/24/69 2/26/69 2/27/69 4/3/69 4/3/69 4/3/69 4/3/69 4/3/69 4/3/69 4/3/69 4/3/69 4/3/69 4/3/69 4/3/69 4/3/69 4/3/69 4//69 5/9/69 5/9/69 4//69 5/9/69 4//69 4//69 6/4/69 6/4/69 4//69 6/4/69 6/9/69 6/2/69 4/3/69 5/9/69 5/9/69 6/20/69 4/3/69 5/9/69 4/3/69 4/3/69 4/3/69 5/9/69 3/3/70 2/28/72 3/27/73 5/9/69 5/20/69 5/20/69 5/20/69 5/27/69 (Continued on following page) ^ 0_ > 2,233

53 January 97 PUBLIC DEBT OPERATIONS Table PDO8. Foreign Series Securities (Nonmarketable) Issued to Official Institutions of Foreign Countries (Continued) (Payable in U.S. Dollars) 49 Amount Month of Maturity Interest Securities Issue activity date date rate Issued Retired outstanding end of month 969 Apr... May... (Percent) 3/5/69 6/V /6/69 6/I+/ _ 7 3/2/69 6/2/ _ 20 3/3/69 5/9/ _ +3 3/20/69 5/9/ /2+/69 +/3/ /2V69 5/9/ _ 5 3/26/69 V3/ /27/69 V3/ _ 33 3/3/69 V3/ _ 8 3/3/69 5/9/ V 2/69 6/+/ V3/69 5/27/ _ V3/69 6/+/ _ W 6 9 5/27/ _ V 9/69 5/27/ _ +/0/69 5/27/ //69 5/27/ (]In millions of doliars) k/lk/69 5/27/ < Certificates of indebtedness i +/5/69 5/27/ ,085 +/6/69 5/27/ /7/69 5/27/ *+ +/7/69 7/0/ l+ 2+ +/7/69 7/7/ /22/69 7/0/ /22/69 7/7/ _ k/2k/g9 7/2 V _ V25/69 5/27/ _ V 25/69 7/0/ _ V25/69 7/2V _ V25/69 7/25/ _ V 28/69 7/0/ ll+ V29/69 5/20/ b/29/69 7/0/ Notes 5/3/68 3/3/70 57^ X r 28 2/20/69 5/20/ < 2/2 V 6 9 5/20/ /26/69 5/20/ /6/69 6/V /2/69 3/3/69 3/7/69 3/0/69 6/2/69 6/9/69 6/V69 6/9/ /20/69 6/20/ V 2/69 6/U/ V3/69 5/27/ /3/69 6/U/ k/k/69 5/27/ k/9/69 +/0/69 V7/69 5/27/69 5/27/69 5/27/ U/22/69 7/7/ U/25/69 5/27/ V25/69 7/0/ I+/28/69 7/0/ V 29/6Q 7/0/ V25/69 7/25/ //69 5/27/ Uo +0 5/6/69 7/0/ /6/69 8/5/ /8/69 8/7/ /9/69 8/8/ /2/69 6/9/ Certificates of indebtedness < 5/2/69 7/0/ /2/69 8/II/ /2/69 8/2/ _ < ^ 2,039 5/3/69 8/2/ /V69 6/9/ /I+/69 7/25/ /5/69 6/V /5/69 6/9/ /5/69 7/0/ ' /5/69 7/7/ U 3 5/5/69 8/2/ /6/69 8/2/ /6/69 8/5/ /9/69 7/0/ /9/69 7/7/ /9/69 8/2/ /2/69 8/2/ /22/69 7/7/ /23/69 7/0/ /23/69 7/7/ /26/69 8/22/ ^ 5/27/69 7/0/ ll+ 5/28/69 8/22/ (Continued on following page)

54 50 PUBLIC DEBT OPERATIONS. Table PDO8. Foreign Series Securities (Nonmarketable) Issued to Official Institutions of Foreign Countries (Continued) Treasury Bulletin Month of activity Securities Issue date (Payable in U.S. Dollars) Maturity date Interest rate Issued Amount Retired (Percent) (h millions of do k liars) 5/28/69 8/26/ _ 5/29/69 7/0/ /29/69 8/3/ outstanding end of month V 3/29/68 5// _ 300 Notes 5/3/68 5/3/ _ * 5//69 8/3/ > " 4/24/69 7/24/ _ 4 4/25/69 7/24/ _ 3 5/2/69 8/2/ _ 50 5/4/69 7/25/ _ 50 5/5/69 7/7/ _ l 5/9/69 7/7/ _ 5/22/69 7/7/ _ 2 5/23/69 7/0/ _ 2 5/23/69 7/7/ _ 6 5/26/69 8/22/ _ 34 5/27/69 7/0/ l4 5/28/69 8/22/ _ 48 5/28/69 8/26/ _ 50 5/29/69 7/0/ _ 9 5/29/69 8/3/ _ 39 6/2/69 8/3/ /4/69 8/22/ /5/69 8/2/ /5/69 8/22/ /5/69 9/5/ Certificates of indebtedness < 6/0/69 9/0/ >,703 6/2/69 9/5/ /2/69 9/0/ _ 6/2/69 9/2/ /3/69 9// /6/69 9/6/ /7/69 9/5/ /8/69 9/5/ /8/69 9/5/ /9/69 9/5/ _ 6/24/69 7/24/ /24/69 9/5/ /24/69 9/0/ _ 6/24/69 9/5/ _ 6/26/69 7/24/ _ 6/27/69 7/7/ _ 6/27/69 7/24/ _ 6/27/69 9/9/ /27/69 9// /27/69 9/5/ io4 _ 6/30/69 7/0/ _ I 6/30/69 7/7/ Notes f 5/5/68 6/6/ _ 50 6/2/68 8/5/ r " 4/25/69 7/24/ _ 3 6/0/69 9/0/ _ 7 6/2/69 9/0/ _ 23 6/8/69 9/5/ _ 6 6/9/69 9/5/ _ 7 6/24/69 7/24/ _ 2 6/24/69 9/5/ _ 30 6/24/69 9/0/ _ 5 6/24/69 9/5/ _ 8 6/26/69 7/24/ _ 3 6/27/69 7/7/ _ 3 6/27/69 7/24/ /27/69 9/5/ _ 5 6/30/69 7/7/ _ 7 6/30/69 7/0/ _ 0 7//69 9/5/ l _ 7//69 7/0/ //69 8/3/ /2/69 0/2/ /2/69 9/5/ /3/69 7/7/ /3/69 7/24/ /3/69 9/5/ /3/69 9/5/ _ Certificates of indebtedness 7/7/69 9// >,643 7/7/69 9/5/ _ July... 7/8/69 9// /8/69 7/7/ /8/69 9/5/ /8/69 9/0/ /9/69 9/9/ /9/69 9// /0/60 9/9/ //69 9/9/ (Continued on following page)

55 January 97 5, PUBLIC DEBT OPERATIONS, Table PDO8. Foreign Series Securities (Nonmarketable) Issued to Official Institutions of Foreign Countries (Continued) (Payable in U. S. Dollars) Month of activity Securities Issue date Maturity date Interest rate Retired outstanding end of month Aug. Sept. Certificates of indebtedness Notes Certificates of indebtedness { 7/5/69 7/7/69 7/7/69 7/8/69 7/8/69 7/2/69 7/2/69 7/23/69 7/25/69 7/28/69 7/29/69 7/30/69 7/30/69 7/3/69 7/3/69 / 2/68 5/3/68 5/2/69 6/27/69 7//69 7/3/69 7/7/69 7/8/69 7/8/69 7/2/69 7/25/69 7/28/69 7/29/69 7/3/69 8//69 8//69 8/4/69 8/4/69 8/5/69 8/5/69 8/5/69 8/5/69 8/6/69 8/7/69 8//69 8//69 8/ H /69 8//69 8/ H /69 8/2/69 8/3/69 8/4/69 8/5/69 8/8/69 8/8/69 8/9/69 8/9/69 8/9/69 8/9/69 8/20/69 8/20/69 8/2/69 8/22/69 8/22/69 8/22/69 8/22/69 8/22/69 8/25/69 8/25/69 8/26/69 8/26/69 5/3/68 7/8/69 7/3/69 8//69 8//69 8//69 8/3/69 8/4/69 8/9/69 8/20/69 8/20/69 8/22/69 8/22/69 8/25/69 8/26/69 9/2/69 9/9/69 9//69 0/0/69 0/7/69 0/0/69 9/9/69 0/23/69 0/24/69 0/24/69 0/24/69 9/9/69 0/23/69 0/0/69 0/23/69 4/3/70 3/3/70 8/2/69 9/5/69 9/5/69 9/5/69 9/5/69 0/0/69 0/7/69 0/0/69 0/24/69 0/24/69 0/24/69 0/0/69 9/5/69 IO/IO/69 9/5/69 IO/IO/69 9/5/69 9//69 0/0/69 9/6/69 9/6/69 9/ H /69 9/6/69 0/0/69 0/7/69 0/24/69 9/2/69 9/6/69 /2/69 n/3/69 /3/69 9/2/69 /4/69 9/2/69 /4/69 /3/69 9/2/69 0/7/69 /3/69 0/0/69 /4/69 /4/69 9/0/69 0/0/69 0/7/69 0/0/69 /4/69 0/24/69 9/0/69 0/24/69 3/3/70 0/7/69 0/0/69 0/0/69 0/7/69 0/24/69 /3/69 /3/69 /3/69 0/0/69 /3/69 0/0/69 /4/69 /4/69 9/0/69 9/5/69 (Percent) i (in millions of doi: * l >,627 >,568 (Continued on following page)

56 52 Treasury Bulletin Month of activity PUBLIC DEBT OPERATIONS Table PDO8. Foreign Series Securities (Nonmarketable) Issued to Official Institutions of Foreign Countries (Continued) Securities Issue date (Payable in U. S. Dollars) Maturity date Interest rate Issued Amount Retired outstanding end of month (Percent) 9/2/69 9/5/ (Ir millions of dol.lars) _ 9/2/69 9/0/ /2/69 IO/2/ /2/69 IO/7/ /2/69 0/0/ _ 9/3/69 /4/ /V69 /4/ /5/69 /4/ /5/69 2/5/ /9/69 2/9/ /0/69 2/0/ //69 2// /2/69 2// Sept 4 9/2/69 2/2/ /5/69 0/7/ _ 9/5/69 0/0/ Certificates of indebtedness < 9/5/69 2/5/ >,568 9/6/69 0/2/ /6/69 0/7/ /7/69 2/5/ /8/69 0/2/ /9/69 0/2/ /22/69 0/2/ /22/69 2/5/ /23/69 2/5/ /24/69 0/2/ /25/69 0/24/ /25/69 2/0/ /26/69 0/2/ /26/69 0/0/ /26/69 0/7/ /26/69 /3/ /26/69 2/5/ /26/69 2/0/ /26/69 2/5/ r 5/3/68 3/3/ /23/68 9/23/ Notes < 5/24/68 9/24/ /23/69 2/2/ I 9/24/69 /8/ S 7/23/69 0/23/ /30/69 0/23/ /3/69 0/0/ /3/69 0/23/ //69 0/0/ /4/69 0/0/ /5/69 0/0/ //69 0/24/ /22/69 0/0/ /25/69 0/24/ /26/69 0/24/ /2/69 0/0/ /5/69 0/7/ /5/69 0/0/ /5/69 0/0/ /6/69 0/7/ /25/69 0/24/ /25/69 2/0/ /26/69 0/2/ * 9/26/69 0/7/ /26/69 /3/ o /26/69 0//69 2/0/69 0/2/ //69 0/7/ //69 2/5/ //69 2/3/ /3/69 0/0/ /6/69 0/7/ /6/69 0/0/ Oct... A Certificates of indebtedness < 0/6/69 2/5/ >,932 0/7/69 2/5/ /8/69 2/5/ ll 0/9/69 /3/ /9/69 2/0/ /9/69 2/5/ /0/69 2/5/ /4/69 2/5/ /5/69 2/5/ /6/69 /3/ /6/69 2/0/ /6/69 2/5/ /7/69 2/5/ /20/69 /9/ /2/69 2/5/ /2/69 /20/ (Continued on following page)

57 January 97 PUBLIC DEBT OPERATIONS. 53 Table PDO8. Foreign Series Securities (Nonmarketable) Issued to Official Institutions of Foreign Countries (Continued) (Payable in U. S. Dollars) Month of activity Securities Issue date Maturity date Interest rate (Percent) 0/22/69 2// /22/69 2/5/ /22/69 /22/ i4o * 0/23/69 0/2+/ /23/69 2/9/ /23/69 2/0/ /23/69 2// /24/69 /3/ IO/2I+/69 2/9/ /2I+/69 2/0/ /27/69 /3/ Oct... 4 Certificates of indebtedness 0/27/69 2/9/ /27/69 /26/ /28/69 /27/ /29/69 /5/ /29/69 /29/ /30/69 /3/ ^ 0/3/69 2/5/ f 6/2/68 0/3/ _ 00 Amount Issued Retired outstanding end of month C n millions of dol.lars) j 2/3/68 /2/ * TVTof P C A 0//69 2/8/ /3/69 3/25/ Bonds 9/6/6+ // > ^ 0/5/69 2/5/ : 0/6/69 2/5/ /7/69 2/5/ /2/69 2/5/ /22/69 2/5/ /22/69 /22/ /29/69 /5/ /3/69 2/5/ /3/69 /3/ o 4o /3/69 2/0/ /3/69 2/5/ /3/69 /9/ /5/69 2/5/ /5/69 /9/ /7/69 2/5/ Certificates of indebtedness * /7/69 /2/ Nov... M /7/69 /9/ ,792 /0/69 2// /0/69 2/5/ /0/69 2/30/ /0/69 /2/ /2/69 2/5/ /2/69 2// /2/69 /2/ /7/69 2/3/ /7/69 2/3/ U / 2I+/69 2/5/ H / 2I+/69 2/3/ /25/69 2/25/ /25/69 2/5/ /26/69 2/3/ Notes 2/3/68 /2/70 6.U0 4 0/22/69 /22/ /2I+/69 2/0/ /29/69 /29/ /3/69 2/0/ /5/69 2/5/ /7/69 2/5/ /7/69 /9/ /0/69 2/5/ /7/69 2/3/ II/2I+/69 2/5/ H / 2I+/69 2/3/ /25/69 2/5/ /26/69 2/3/ //69 2/5/ i4 2//69 2/5/ //69 /2/ //69 /9/ //69 2/3/ //69 3/2/ Certificates of indebtedness < 2/2/69 2/5/ /2/69 /26/ /2/69 3/3/ i4 4 2/3/69 3/4/ /I+/69 3/4/ /5/69 3/5/ ,765 2/8/69 3/4/ /9/69 3/4/ /0/69 /2/ (Continued on following page)

58 54 PUBLIC DEBT OPERATIONS Table PDO8. Foreign Series Securities (Nonmarketable) Issued to Official Institutions of Foreign Countries (Continued) Treasury Bulletin Month of activity Securities Issue date (Payable in U. S. Dollars) Maturity date Amount Interest rate Issued Retired outstanding end of month (Percent) (I!n millions of do] Liars) 2/0/69 3/4/ /0/69 3/0/ /2/69 3/2/ /5/69 /2/ /5/69 /26/ /5/69 3/6/ /6/69 /26/ /9/69 3/6/ /2V 69 3/6/ /2^/69 3/24/ /26/69 3/5/ Dec... < Certificates of indebtedness i 2/26/69 3/0/ /26/69 3/6/ /29/69 2/3/ /29/69 3/3/ /29/69 3/4/ /29/69 3/5/ /29/69 3/2/ /29/69 3/6/ /29/69 3/30/ /30/69 2/3/ /30/69 3/3/ L 2/3/69 2/3/ Notes 2/3/68 /2/ * > 0/29/69 /29/ /0/69 3/0/ /26/69 3/5/ /29/69 2/3/ /29/69 3/5/ /29/69 3/6/ /30/69 2/3/ /30/69 3/3/ /3/69 2/3/ / 2/70 3/3/ /5/70 /9/ /5/70 2/3/ /7/70 /9/ /7/70 3/3/ /8/70 4/8/ /9/70 4/8/ Jan... < Certificates of indebtedness /2/70 4/8/ /2/70 4/3/ /3/70 3/3/ t 2,285 / 3/70 4/8/ /4/70 3/3/ /4/70 4/8/ / 5/70 3/3/ /6/70 4/6/ / 9/70 3/3/ /20/70 3/3/ /2/70 3/6/ /2/70 3/3/ /2/70 4/8/ /2/70 4/3/ /23/70 3/6/ /26/70 3/6/ /26/70 4/8/ /27/70 4/8/ V /29/70 4/29/ f 9/9/68 /5/ _ 00 J 9/0/68 /5/ Notes < 9/26/68 /30/ ] /5/70 4/22/ L / 30/70 5/20/ f / 25/69 2/25/ /4/70 3/3/ /26/70 4/8/ /27/70 4/8/ /2/70 3/0/ /2/70 3/3/ /2/70 4/20/ /2/70 4/27/ /3/70 3/3/ /3/70 5/4/ Certificates of indebtedness < 2/4/70 3/6/ Feb 2/4/70 3/3/ l4 2/6/70 3/6/ /6/70 3/3/ /6/70 5/6/ /6/70 5// /9/70 3/6/ (Continued on following page) > 2,606

59 January 97 PUBLIC DEBT OPERATIONS 55 Table PDO8. Foreign Series Securities (Nonmarketable) Issued to Official Institutions of Foreign Countries (Continued) (Payable in U.S. Dollars) Month of activity Securities Issue date Maturity date Interest rate Issued Amount Retired outstanding end of month Notes 2/3/70 2/8/70 2/9/70 2/9/70 2/9/70 2/25/70 2/26/70 2/3/68 3/6/70 3/6/70 3/2/70 3/6/70 5/9/70 5/25/70 5/26/70 /2/70 (Percent) (In nillions of * 970Mar. Apr. May. Certificates of indebtedness Notes Certificates of indebtedness Certificates of indebtedness Notes 2//69 2/0/69 2/2U/69 2/26/69 /5/70 /9/70 /20/70 /2/70 / 2/70 2/2/70 2/2/70 2/3/70 2/4/70 2/6/70 2/26/70 3/2/70 3/2/70 3/2/70 3/3/70 3/4/70 3/5/70 3/6/70 3/6/70 3/2/70 3/6/70 3/23/70 3/24/70. 3/3/70 f 5/3/68 J 3/2/70 \ 3/26/70 V 3/3/70 /8/7 /6/70 /2/70 /29/70 2/ 2/70 2/ 2/70 3/6/70 3/3/70 4/8/70 4/6/70 4/28/70 ^4/29/70 fi2/l6/68 2/ 20/68 J 2/23/68 A 2/3/68 4/9/70 V, 4/30/70 2/3/7 0 2/0/70 2/25/70 2/26/70 3/2/70 3/23/70 3/24/70 4/28/70 4/29/70 5/4/70 5/5/70 5//70 fl2/2/6 8 ( 5/5/70 ^ 5/5/70 3/2/70 3/0/70 3/24/70 3/0/70 3/3/70 3/3/70 3/3/70 3/3/70 4/3/70 3/0/70 3/3/70 3/3/70 3/3/70 3/3/70 5/26/70 3/6/70 3/3/70 6/2/70 3/6/70 3/6/70 3/6/70 3/2/70 3/6/70 6//70 6/5/70 6/23/70 6/24/70 6/30/70 3/3/70 6/7/7 7/22/7 7/29/7 4/8/70 4/6/70 4/3/70 4/29/70 4/20/70 4/27/70 6/5/70 6/30/70 7/8/70 7/6/70 7/28/70 7/29/70 4/30/70 4/30/70 4/30/70 n / 2/70 8/26/7 9/23/7 5/4/70 5//70 5/25/70 5/26/70 6/2/70 6/23/70 6/24/70 7/28/70 7/29/70 8/4/70 8/5/70 8//70 /2/70 5/27/7 6/24/ _ _ _ _ _ ,873 ) 2,534 (Continued on following page)

60 56 Treasury Bulletin, PUBLIC DEBT OPERATIONS. Table PDO8. Foreign Series Securities (Nonmarketable) Issued to Official Institutions of Foreign Countries (Continued) (Payable in U.S. Dollars) 970June. Month of activity Securities Certificates of indebtedness Notes Issue date Maturity date Interest rate (Percent) Issued Amount Retired (In millions of f 6//70 9// /5/70 9/5/ _ J 6/24/70 9/24/ \ 6/26/70 7/23/ _ 6/26/70 9// _ ^ 6/30/70 9/30/ /23/65 6/23/ _ 85 2/3/68 /2/ * J 6/4/70 8/26/ _ S 6//70 0/28/ _ 6/8/70 0/28/ _ 6/25/70 /8/ outstanding end of month July. Aug. Sept. Oct. Certificates of indebtedness Notes Certificates of indebtedness Notes Certificates of indebtedness Certificates of indebtedness Notes VBonds > 4/8/70 7/8/ _ 27 4/6/70 7/6/ /24/70 9/24/ /26/70 7/23/ /26/70 9// /6/70 0/6/ J 7/7/70 0/7/ _ \ 7/8/70 0/8/ /5/70 0/4/ /6/70 0/6/ /22/70 0/22/ /24/70 0/23/ /27/70 0/27/ /27/70 0/27/ /28/70 0/28/ /29/70 0/29/ /3/68 /2/ f 8/5/70 /5/ J 8/0/70 /0/ _ / 8/7/70 /7/ /24/70 /24/ _ L 8/25/70 /25/ f 5//69 8/3/ _ 300 < 8/3/70 2/23/ _ \ 8/3/70 /20/ f 6/5/70 9/5/ /30/70 9/30/ _ 20 7/6/70 0/6/ /27/70 0/27/ /5/70 2/5/ < 9/6/70 2/6/ _ 9/22/70 2/22/ /23/70 2/23/ _ 9/28/70 2/28/ /30/70 2/30/ _ V. 9/30/70 2/30/ r 7/6/70 0/6/ _ 200 7/7/70 0/7/ /8/70 0/8/ /6/70 0/6/ _ 250 7/22/70 0/22/ /24/70 0/23/ /27/70 0/27/ /28/70 0/28/ /29/70 0/29/ j 9/30/70 2/30/ _ 275 < 0//70 2/3/ /7/70 /7/ /8/70 /8/ /6/70 /5/ /2/70 /2/ /22/70 /22/ /23/70 /22/ /26/70 /26/ /27/70 /27/ /28/70 /28/ /28/70 /28/ _ 0/29/70 /29/ [ 2/3/68 /2/ _ J 0/28/70 /20/ /6/64 // > 3,9 ) 4,076 ) 3,97 } 3,755 (Continued on following page)

61 January PUBLIC DEBT OPERATIONS. Table PDO8. Foreign Series Securities (Nonmarketable) Issued to Official Institutions of Foreign Countries (Continued) (Payable in U.S. Dollars) 970Nov. Month of activity Dec. Securities Certificates of indebtedness Certificates of indebtedness Notes Issue date 8/5/70 8/0/70 8/7/70 8/24/70 8/25/70 9/30/70 /5/70 /0/70 /0/70 /7/70 /23/70 /23/70 /24/70 /24/70 /25/70 /25/70 /27/70 /30/70 2/3/68 /2/70 9/5/70 9/6/70 9/22/70 9/23/70 9/28/70 9/30/70 0/l/70 0/7/70 0/22/70 0/28/70 0/29/70 /5/70 /24/70 /25/70 /25/70 2/9/70 2/5/70 2/6/70 2/22/70 2/23/70 2/28/70 2/3/70 f 9/23/69 / /2/70 2/2/70 Maturity date /5/70 /0/70 /7/70 /24/70 /25/70 2/30/70 2/5/7 2/0/7 2/0/7 2/7/7 2/23/7 2/23/7 2/24/7 2/24/7 2/25/7 2/25/7 2/26/7 3//7 /2/70 2/2/72 2/5/70 2/6/70 2/22/70 2/23/70 2/28/70 2/30/70 2/3/70 /7/7 /22/7 /28/7 /29/7 2/5/7 2/24/7 2/25/7 2/25/7 3/9/7 3/5/7 3/6/7 3/22/7 3/23/7 3/29/7 3/3/7 2/2/70 2/2/72 2/24/72 Interest rate (Percent) Issued Amount Retired (In millions of dollars) outstanding end of month > 4,637 ) 4,33 Source: Bureau of the Public Debt. * Less than $500,000.

62 58 PUBLIC DEBT OPERATIONS Table PDO9. Foreign Currency Series Securities (Nonmarketable) Issued to Official Institutions of Foreign Countries Treasury Bulletin Month of activity Securities Payable in Issue date Amount (Dollar equivalent) Maturity date Interest rate Issued Retired outstanding end of month 968July Aug... Sept... Oct... Dec... J 969Jan... < Feb... < Mar... Apr... < Certificates of indebtedness Notes Notes Notes fsuiss francs / Swiss francs N Swiss francs IsSwiss francs Italian lire Italian lire German marks German marks Swiss francs Swiss francs /26/68 7/5/68 7/6/68 7/26/68 /30/67 7/30/68 /3/67 8/9/68 6/30/67 9/30/68 7/26/68 0/7/68 0/6/68 /24/69 7/30/68 /30/70 //68 2/9/73 9/30/68 /30/70 (Percent) (I:n millions of dollars) J,93 * 2,005 > 2,005 fswiss francs ) Swiss francs 7/5/68 7/6/68 0/7/68 0/6/ Certificates of indebtedness \ Swiss francs 0/7/68 4/7/ > 2,3 IjSwiss francs 0/6/68 /6/ I Notes German marks 0/2/68 4/2/ J JNetherland /29/68 /29/ Certificates of indebtedness ( guilders German marks 2/27/68 3/27/ Notes Certificates of indebtedness /'"German marks ) Belgian francs \ German marks Lltalian lire CSwiss francs Swiss francs J Swiss francs \ German marks ISwiss francs \j3wiss francs 2//66 /24/67 2/2/68 2/6/68 0/6/68 /26/68 7/26/68 2/27/68 /6/69 /24/69 2/2/68 /24/69 2/2/70 6/8/73 /6/69 /24/69 /24/69 3/27/69 4/6/69 7/24/69 CGerman marks ISwiss francs 5/2/67 0/6/67 /2/69 /6/ Notes I Swiss francs jgerman marks (^German marks /6/69 /2/69 /6/69 4/6/70 /4/7 7/2/ Certificates of indebtedness Swiss francs 2/6/69 8/6/ German marks Austrian schillings Swiss francs Notes < Swiss francs Swiss francs Austrian schillings Notes Certificates of indebtedness Notes TGerman marks J German marks \ Swiss francs VSwiss francs fswiss francs /Swiss francs \ Swiss francs \ wiss francs jgerman marks ISwiss francs J German marks \ German marks ISwiss francs Swiss francs 8//67 8/23/67 /7/67 2/6/69 2/7/69 2/24/69 9//67 3/3/69 2//67 3//69 0/7/68 /6/69 4/7/69 4/6/69 0/3/67 /9/68 4//69 4/2/69 4/9/69 4/29/69 2/3/69 2/24/69 2/7/69 5/6/70 5/9/70 8/24/70 3/3/69 9/3/70 3//69 6//70 4/7/69 4/6/69 0/7/69 7/6/69 4//69 4/9/69 0//70 0/2/73 7/9/70 7/29/ J ^ 2,230 > 2, > 2, > 2,254 J > 2,47 May... Notes German marks //67 5/2/ ,367 June... Notes JSwiss francs 3/7/68 6/9/ lswiss francs 6/9/69 9/9/ » 2,367 July < k. Certificates of indebtedness Notes /Swiss francs jswiss francs \ Swiss francs ^Swiss francs (Swiss francs IAustrian < schillings [Swiss francs V*3wiss francs /24/69 4/6/69 7/7/69 7/24/69 4/3/68 6/2/68 7/3/69 7/6/69 7/24/69 7/6/69 8/8/69 /23/70 7/3/69 2/2/69 0/5/70 0/6/ ^ 2,320 (Continued on following page)

63 January 97 PUBLIC DEBT OPERATIONS. Table PDO9. Foreign Currency Series Securities (Nonmarketable) Issued to Official Institutions of Foreign Countries (Continued) 59 Month of activity Securities Payable in Issue date Maturity date Interest rate Amount (Dollar equivalent) Issued Retired outstanding end of month 969Aug. Sept. Oct. Nov. 970Jan. Feb.. Mar.. Apr.. May.. June. July. Aug..! I Certificates of indebtedness Notes Notes Certificates of indebtedness Notes Certificates of indebtedness Notes Certificates of indebtedness Notes Certificates of indebtedness Notes Certificates of indebtedness Notes Notes Certificates of indebtedness Notes Certificates of indebtedness { Swiss francs Swiss francs Swiss francs Swiss francs Italian lire r Swiss francs Swiss francs Swiss francs Swiss francs Austrian schillings Swiss francs German marks German marks German marks German marks ^Swiss francs Swiss francs Swiss francs 'German marks German marks Italian lire German marks Swiss francs German marks German marks German marks German marks German marks Swiss francs Swiss francs Swiss francs German marks German marks,german marks Swiss francs Swiss francs Swiss francs Swiss francs Swiss francs Swiss francs Swiss francs Swiss Swiss f Swiss { Swiss { francs francs francs francs Swiss francs Swiss francs Swiss francs Swiss francs I Swiss francs \ Swiss francs 2/6/69 8/ 6/ 69 7/7/69 8/8/69 2/6/68 5/27/68 9/29/69 4/7/69 0/7/69 2/24/69 8/8/69 2/2/68 /2/69 3/3/69 4//69 /8/69 7/24/69 /23/70 0/2/67 /5/68 7/30/68 8/9/68 9/30/68 0/2/68 /6/69 4/2/69 8/9/69 0/2/69 /30/70 8/6/69 2/6/70 7/3/67 4//68 6/24/68 0/7/69 /6/69 4/6/70 2/6/69 2/7/69 5/6/70 5/9/70 3//69 6/ /70 /23/70 7/23/70 V9/69 4/29/70 7/9/70 7/29/70 2/ 6/70 8/ 6/70 8/6/69 2/6/70 8/8/69 /8/69 6/8/73 9/29/69 /29/7 0/7/69 4/7/70 8/24/70 /8/69 2/2/70 /4/7 9/3/70 0//70 2/8/7 /23/70 7/23/70 4/3/72 7/5/72 /30/70 2/9/73 /30/70 4/2/73 7/2/73 0/2/73 2/9/73 0/2/73 6//7 2/6/70 8/6/70 /3/72 0/2/72 2/22/72 4/7/70 4/6/70 7/6/7 5/6/70 5/9/70 8/6/7 8/9/7 6//70 9/3/7 7/23/70 /22/7 7/9/70 7/29/70 0/8/7 0/29/7 8/ 6/70 2/5/7 (Percent) (in millions of dollars) ,220 2,220 2,95,996,390,390,420,366, Sept. Oct. Notes Notes Swiss francs Swiss francs Swiss francs Swiss francs \ Swiss francs I Swiss francs 6/9/69 9/9/70 7/3/69 7/6/69 0/5/70 0/6/70 9/9/70 2/9/7 0/5/70 0/6/70 /5/72 /7/ Source: Bureau of the Public Debt.

64 60.UNITED STATES SAVINGS BONDS, Treasury Bulletin Series E and H are the only savings bonds currently being sold. Series E has been on sale since May, 94, and Series H has been on sale since June, 952. Series AD were sold from March, 935, through April 30, 94. Series F and G were sold from May, 94, through April 30, 952. Series J and K were sold from May, 952, through April 30, 957. Details of the principal changes in issues, interest yields, maturities, and other terms appear in the Treasury Bulletins of April 95, May 952, May 957, October and December 959, and May and October 96J the Annual Report of the Secretary of the Treasury fiscal year 966 (pages 97 and 258), and fiscal year 967 (pages 79 and 8); and the Treasury Bulletin of June 968. Table SB. Sales and Redemptions by Series, Cumulative through December 3, 970 (in millions of dollars) Sales / Accrued discount Sales plus accrued discount Redemptions / Interestbearing debt Amount Outstanding Matured noninterestbearing debt Series AD 2/.. Series E and H, Series F and G, Series J and K. AK.... 3,949 50,82 28,396 3,556,054 5,003 4,997 3,408 82,220 30,378 5,842,25 29,52 29, ,754 3,740 33, ,497 68,605 5, Footnotes at end of Table SB4. Table SB2. Sales and Redemptions by Periods, All Series Combined (in millions of dollars) Period Sales / Accrued discount Sales plus accrued discount Redemptions l/ Sales prices 3/ Accrued discount 3/ Interestbearing debt Amount Outstanding Matured noninterestbearing debt Fiscal years: ,460 7,99 55,658 07,835 98,9^5 8,890 ^7,5^ ,464,286 5,7^9 5,89 5, ^7,5^ ,42,358 5,780 5,76 4, , ,58,408 5,926 5,273 4, , ,656,476 6,32 5,64 ^, , ,543,57 6,060 5,3^6 4, , ,650,554 6,204 5,724 4, , ^,965,626 6,592 5,922 4, , ^,739,735 6,473 5,982 ^,978,003 5, ,550,789 6,338 6,339 5,237,02 5, ,449,84 6,29 6,748 5,508,240 5,28 55 Calendar years: ,529 7,832 58,360 0,833 0,538 9,295 47, ,539,322 5,86 5,595 4, , ,278,397 5,675 5,602 4, , ,760,423 6,83 5,02 4, , ^4... 4,609,508 6,7 5,252 4, ,73** ,486,527 6,03 5,44 ^, ,324 l4l ,860,59 6,45 6,000 5, , ,898,686 6,584 5,793 4, , ,696,759 6,455 6,33 5,094,040 5, M 9 3,832 6,224 6,639 5,457,82 5,5^ ,665,909 6,574 6,295 5,072,223 5, Months: 969 Dec b79 39^ 85 5,5^ Jan , Feb ^ ,398 6 Mar , Apr , May , June ,28 55 July ,300 5b Aug , Sept ,44 52 Oct ,537 5 Nov ,693 5 Dec , Footnotes at end of Table SB4.

65 January 97 6 UNITED STATES SAVINGS BONDS Table SB3. Sales and Redemptions by Periods, Series E through K Period Sales / Accrued discount Sales plus accrued discount (In millions of dollars) Redemptions / Sales price Series E and H combined Accrued discount J/ Interestbearing debt Amount outstanding Matured noninterestbearing debt Fiscal years: ,560 4,960 7,59 74,804 67,840 6,964 42, ,464,254 5,77 4,627 3, , ,42,33 5,753 4,603 3, , ,58,386 5,904 4,500 3, , ,656,458 6,4 4,736 3, , ,543,502 6,045 4,987 4, , ,650,542 6,92 5,305 4, , ,965,69 6,584 5,449 4, , ,739,73 6,470 5,75 4, , ,550,788 6,337 6,98 5,2,086 5, ,449,84 6,29 6,72 5,484,237 5,28 Calendar years: ,629 5,576 20,205 77,067 69,758 7,309 43, ,539,293 5,832 4,484 3, , ,278,372 5,650 4,636 3, , ,760,404 6,64 4,557 3, , ,609,49 6,0 4,84 4, , ,486,54 6,000 5,7 4, , ,860,580 6,440 5,477 4, , ,898,680 6,578 5,439 4, , ,696,757 6,452 5,95 4,898,07 5, ,393,832 6,224 6,565 5,39,73 5, ,665,909 6,574 6,28 5,060,22 5,842 Ijjpvtftfl: 969Dee , Jan ,448 Feb ,398 Mar ,325 Apr.' ,285 May ,307 June ,28 _ July ,300 Aug ,375 Sept , ^ Oct ,537 _ Nov ,693 Sec,,,,.., j 83 5,842 Series F, G, J, and K combined ij Fiscal years: ^ ,95,85 33,36 28,049 5/6/ 27, , * *88 7/, , _ 27 27,0 8/, , _ if , / , , _ Calendar years: ,95,20 33,53 28,784 5/6/by 27,760,024 4, _ 29 29,08 i/i/, , _ /2/ , _ / , _ , , _ _ _ * * H 2 44 Months: 2 * Jan * 56 Feb... _ * 55 Mar... _ 2 2 * 53 * 5 * 50 * 49 July... _ * 48 Aug... * 47 * * * 46 Oct... _ * 46 Nov... _ * _ 45 Dec... * 44 Footnotes at end of Table SB4. (Continued on following page)

66 62 Treasury Bulletin.UNITED STATES SAVINGS BONDS. Table SB3. Sales and Redemptions by Periods, Series E through K (Continued) (in millions of dollars) Fiscal yearei /, Calendar years? Months: 969De c 970Ja n Feb... Mar... Apr... May... June... Period Sales / July... Aug... Sept... Oct... Nov. Dec... 96,337 3,689 3,674 3,94 4,36 4,2 4,246 4,599 4,466 4,343 4,289 98,082 3,7 3,624 4,85 4,32 4,092 4,450 4,574 4,452 4,220 4, Accrued discount 4,960,254,33,386,458,502,542,69,73,788,84 5,576,293,372,404,49,54,580,680,757,832, Sales plus accrued discount,296 4,943 5,005 5,300 5,594 5,64 5,787 6,27 6,96 6,3 6,30 JL3,659 5,003 4,996 5,589 5,623 5,606 6,03 6>255 6,209 6,052 6, Series E 73,640 4,394 4,343 4,203 4,363 4,538 4,80 4,895 5,54 5,548 5,959 75,783 4,249 4,349 4,229 4,425 4,650 4,93 4,94 5,300 5,835 5, Series H Redemptions / Sales price 66,676 3,673 3, ,609 3,705 3,904 3,982 4, ,722 68,474 3,546 3,595 3,495 3,646 3,787 3,997 4,022 4,283 4,66 4, O Accrued discount J/ 6, ,086,237 7, ,07,73, Exchanges of E bonds for H bonds Amount outstanding (interestbearing debt) 37, , ,90 4,078 4,853 42,959 43,805 44, ,597 38,40 38,587 39,740 40, , , ,259 44,88 44,69 44,36 44,27 44, ,2 44,308 44,364 44, Fiscal years: ,223 6,223,65,65 _ 20 5, , _ 29 6, , , , , , , , ,4 Calendar years: ,546 _,284, , *S& , , , , , , , , , ,025 Months: 970Jan... Feb... July , ,259 7,230 3 _ ,89 _ ,57 2 _ , , , ,066 _ ,049 6 _ ,040 Oct... 0 _ ,030 Dec ,025 Footnotes at end of Table SB4.

67 January 97.UNITED STATES SAVINGS BONDS. 63 TaUe SB4, Redemptions of Matured and Unmatured Savings Bonds (In millions of dollars) fiscal yarars: Calendar years: Months: 969Dec? 970Ja n Feb... Mar... Apr. May... June..., July... Aug Sept... Oct... Nov. Dec... Period / 23, ,846 8,958 8,544 7,249 8,557 5,89 5,76 5,273 5,64 5,346 5,724 5,922 5,982 6,339 6,748 23,859 7,30 8,264 9,630 7,255 8,772 6,732 5,595 5,602 5, ,44 6,000 5,793 6,33 6,639 6, ,8 3,94 4,263 4,5 3,730 3,62 4,26 2,673 2,593 2,250 2,057 2,84 2, ,548 2,560 2,792 7,276 4,230 4,246 4,56 3,393 4,70 3,033 2,555 2,387 2,043 2,7 2, ,386 2,652 2,686 2, Matured Series E and H 3,355,826,97,97,906,996 2,304,733,668,593,754 l',938,973 2,059 2,289 2,47 2,762 4,050 2,047,89 2,084,69 2,433,944,633,656,67,889,932 2,080 2,04 2,443 2,60 2, Other 2,762 5 / 2,5 2,345 2,44,824,625,822 6/ 940 2/ 925 8/ 657 2/ ,227 2/ 2,83 2,355 2,072,702 2,268 6/,089 6/ 2/ 922 7/ 8/ 730 8/ 2/ 426 2/ ,065 3,394 3,467 4,657 4,739 3,778 4,64 3,358 3,070 2,95 3,088 3,284 3,300 3,35 3,40 3,566 3,842 5,795 3,666 3,899 5,207 3,84 4,520 3,938 3,00 3,002 3,03 3,57 3,287 3,384 3,43 3,455 3,726 3, Unmatured Series E and H 3,232 2,775 2,785 3, ,235 3,285 3,075 2,875 2,82 2,948 3, ,273 3,376 3,560 3,842 2,259 2,976 2,920 3,322 3,09 3,445 3,4 2,899 2,827 2,905 3,026 3,76 3,277 3,370 3,44 3,724 3, Other 3, ,526, , , , , Unclassified 0/ Source: Dfeil^ Treasury statement; Office of Debt Analysis in the Office of the Secretary. Note: In these tables sales of Series AF and J bonds are included at issue price, and redemptions and amounts outstanding at current redemption value. Series G, H, and K are included at face value throughout. ij Matured bonds which have been redeemed are included in redemptions. Matured J and K bonds outstanding are included in the interestbearing debt until all bonds of the annual series have matured, and are then transferred to matured debt on which interest has ceased. / Sales and redemption figures include exchanges of minor amounts of (l) matured Series E bonds for Series G and K bonds from May 95 through April 957 and (2) Series F and J bonds for Series H bonds beginning 2/ January I960; however, they exclude exchanges of Series E bonds for Series H bonds, which are reported in Table SB3. 8/ 2/ Details by series on a cumulative basis and by periods for Series AD combined will be found in the February 952 and previous issues of the 2/ Treasury Bulletin. J/ Because there is a normal lag in classifying redemptions, the distribu 0/ tion of redemption between sales price and accrued discount has been estimated. Beginning with the Treasury Bulletin of March 96 the * method of distributing redemptions between sales price and accrued discount has been changed to reflect the distribution shown in final reports of classified redemptions. All periods shown have been revised on this basis. Series F and G sales were discontinued Apyil 30, 952, and Series J and K sales were discontinued April 30, 957. Sales figures after April 30, 957, represent adjustments. Includes exchanges of Series 94 F and G savings bonds for 3/4$ marketable bonds of Includes exchanges of Series 948 F and G bonds for 43/4$ marketable notes of 964. Includes exchanges of Series 949 F and G bonds for 4$ marketable bonds of 969* Includes exchanges of Series 950 F and G bonds for 37/8$ marketable bonds of 968. Includes exchanges of Series 95 and 952 F and G bonds for 37 marketable bonds of 97 and 4$ markeifcable bonds of 980. Represents changes in the amounts of redemptions not yet classified between matured and unmatured issues. T*ss than $500,000.

68 64 UNITED STATES SAVINGS NOTES Treasury Bulletin United States savings notes were on sale May, 967 through June 30, 970. The notes were eligible for purchase by individuals with the simultaneous purchase of Series E savings bonds. The principal terms and conditions for purchase and redemption and information' on investment yields of savings notes appear in the Treasuiy Bulletins of March 967 and June 968. Table SN. Sales and Redemptions by Periods (In millions of dollars) Period Sales l/ Accrued discount Sales plus accrued discount Redemptions Sales price Accrued discount Amount outstanding Fiscal years: * * * 20 * * * Calendar years: * * * * Months: 969Dec * Jan * 665 Feb Mar Apr May * 73 June July Aug Sept Oct Nov... * Dec Source: Daily Treasury statement; Office of Dobt Analysis in the Office / Sales were discontinued after June 30, 970. Figures shown thereafter of the Secretary. represent adjustments. * Less than $5d0,000.

69 January OWNERSHIP OF FE D E R A L SECU RITIES Tfchle OFS. Distribution of Federal Securities by Classes of Investors and Types of Issues (in millions of dollars) End of fiscal year or month Federal securities outstanding outstanding Interestbearing public debt securities Held by U.S. Government accounts Public Held by private investors Nonmarketable issues Public held by Public Non marketable issues Other Reserve able able Special Federal marketmarket banks Matured public debt and debt bearing no interest outr standing y Agency securities Held by U.S. Govt, accounts and Fed. Reserve banks HelgL by private investors , ,672 53,687 6,507 44,993 2,87 27, ,732 53,389 5,3^3 3,299 6, , ,28 294,442 5^,255 7,208 44,865 2,82 29,663 20,525 59,20 5,323 3,759 7, , ,983 30,954 55,638 9,033 44,429 2,77 32,027 24,289 62,449 5,840 3,906 8, ,46 964, 320, ,357 58,598 9,878 46,546 2,7^ 34,79^ 23,964 l6l,8l6 52,48 4,356 8,63 6 8, ,609 33,3 6,07 0,35 48,549 2,7 39,00 22,94 59,244 53,697 4,6 9, , , 333,284 35,43 64,36 < 2,050 50,96 2,070 42,69 208,946 54,909 54,037 4,476 3, , , ,286 7,809 3,635 56,03 2,07 46,79 203,758 50,38 53, W ) 3,935 8,455 2,00 6, , ,40 76,38 4,694 59,374 2,07 52,230 26,032 59,668 56,363 3,78 24,399 3,00 2, ,969 35,729 84,85 6,007 66,738 2,07 54,095 22,89 56,006 56,84,99 4,249 2,846, , 383,^8 369,026 95,70 6,974 76,24 2,07 57,74 26,42 57,9 58,23,893 2,50 2,553 9, Dec , ,49 _76,567 5,^03 59,09^ 2,070 52, ,645 68,472 57,73 2,879 5,064 2,845 2,29 969Nov ,07 366,263 87,023 6,23 68,739 2,07 57,38 22,922 64,387 57,534,850 3,904r 2,863,04lr Dec , ,22 89,042 6,295 70,677 2,07 57,54 220,026 62,45 57,60 2,004 3,820 2,884 0,935 L970Jan... 38, ,620 88,584 6,554 69,960 2,07 55,50 22,526 64,258 57,268,952 3,755 2,88 0,937 Feb... 38,83 366,858 89,447 6,22 7,65 2,07 55,823 22,588 63,933 57,655,988 2,966 2,580 0,386 Mar , ,963 90,368 6,362 7,935 2,07 55, ,809 66,047 57,762 2,044 2,987 2,526 0,46 Apr ,42 365,099 90,93 6,472 7,650 2,07 56,508 28,398 6,07 57,38 2,095 2,948 2,550 0,397 May , ,44 92,33 7,044 73,25 2,07 57,307 29,506 62,209 57,296,944 2,670 2,565 0,04 June , ,026 95,70 6,974 76,24, 2,07 57,74 26,42 57,9 58,23,893 2,50 2,553 9,956 July , ,622 94,767 6,805 75,89 2,07 58,597 22,258 62,420 58,838,946 2,472 2,570 9,902 Aug , ,905 96,368 6,866 77,43 2,07 59, ,590 63,698 58,892,996 2,469 2,599 9,870 Sept... 39,60 376,820 95,487 6,875 76,54 2,07 59,975 22,359 62,480 58,879,858 2,482 2,652 9,829 Oct , ,324 94,48 6,984 75,363 2,07 60,05 223,89 65,80 '58,7,875 2,465 2,644 9,82 Nov ,00 38,667 94,564 7,049 75,444 2,07 6, ,869 66,65 59,704,973 2,460 2,606 9,854 / For content see Table FD6. r Revised.

70 66 OWNERSHIP OF FEDERAL SECURITIES, Treasury Bulletin Table OFS2. Estimated Ownership of Public Debt Securities by Private Investors (Par values / in billions of dollars) End of month privately held Commercial banks 2/ Individual j/ Savings bonds Series E and H Other Other securities Series 7/ Nonbank investors Insurance companies Mutual savings banks Corporations.4/ State and local governments Foreign and international Other investors 6/ 5/ 939Dec Feb Dec I June Dec June June Dec June June June Dec June Dec June Dec June June ' Dec June Dec June ' Dec Dec June June : Dec , June Dec ' June June July Aug Sept Oct Nov Dec Jan Feb Apr May June July Aug Oct Dec Jan Feb Mar Apr May July , Oct ^ : Nov p Source: Office of Debt Analysis in the Office of the Secretary, l/ United States savings bonds, Series AF and J, are included at current redemption value. 2/ Consists of commercial banks, trust companies, and stock savings banks in the United States and in Territories and island possesions. Figures exclude securities held in trust departments, j/ Includes partnerships and personal trust accounts. 4/ Exclusive of banks and insurance companies. j>/ Consists of the investments of foreign balances and international accounts in the United States. 6/ Consists of savings and loan associations, nonprofit institutions, corporate pension trust funds, and dealers and brokers. Also included are certain government deposit accounts and governmentsponsored agencies. 7/ Includes U.S. savings notes. Sales began May, 967 and were discontinued after June 30, 970. p Preliminary.

71 January TREASURY SURVEY OP OWNERSHIP, NOVEMBER 30, 970, The monthly Treasuiy Survey of Ownership covers securities issued by the United States Government, Federal agencies, Federallysponsored agencies, and the District of Columbia. 9^ Treasury Bulletin, for corporations and savings and loan associations in the September i960 Bulletin, and for State and local governments in the February 962 Bulletin. The banks and insure ace companies included in the Survey cur rently account for about 90 percent of all such securities Holdings by commercial banks distributed according to Federal Reserve member bank classes and nonmember banks are held by these institutions. The similar proportion for corporations and for savings and loan associations is 50 percent, published for June 30 and December 3. and for State and local governments, 70 percent. Data were first published for banks and insurance companies in the May Holdings by corporate pension trust funds are published quarterly, first appearing in the March 95^ Bulletin. Classification Ftiblie debt issues: Interestbearing public debt securities: Marketable... Nonmarketable kj... Special issues... amount outstanding / 2kb,bk7 6,577 75,6+3 l>. S. Government accounts and Federal Reserve banks 78,282 2,07 75,+++ Table TSO. Summary of Federal Securities (Par values in millions of dollars) private investors 66,65 59, Held by private investors covered in Treasury Survey 5, commercial savings mutual banks banks 2/ 2/ +8,0+5 ^7 % 2,727 0 Insurance companies life 3, fire, casualty, and marine 2,67 28 savings and loan associations 3,^ corporations 3,323 State and local ffaironnmon + a 36 general funds 8, pension and retirement funds 3,32 58 All other private investors 2/ interestbearing public debt securities... 38,667 55, ,869 +8,092 2,737 3,329 2,699 3,^63 3,32+ 8,+83 3,90 50,553 Matured debt and debt bearing no interest...,973,973 _,973 public debt securities ,6+0 55, ,8+2 +8,092 2,737 3,329 2,699 3,^63 3,32+ 8,+83 3,90 52,526 Government agency issues: Regular issues... Participation certificates 6/...,979 8, ,25,82 6, ,^33 Government agency securities covered in Treasuiy Survey... 0,76 2,373 8,3^3, ^ ,20 3,573 Nonsurveyed Government agency securities.... l,7m+ 233,5 Government agency 2,+60 2,606 9,85^ Federal securities ,00 58, ,696 Footnotes at end of Table TS I ,078 59, ,76

72 68 Treasury Bulletin Classification By type security: Issued by U.S. Government: Treasury bills... Treasury notes... Treasury bonds By maturity distribution: Call classes (due or first becoming callable): Within year... to 5 years... 5 to 0 years... 0 to 5 years... 5 to 0 years years and over....t R E A S U R Y S U R V E Y O F O W N E R S H IP, NOVEMBER 30, 970. Table TSO2. InterestBearing Marketable Public Debt Securities amount outstanding / 84,625 0,2 58,62 by Type and Maturity Distribution U.S. Government accounts and Federal Reserve banks 26,266 40,258,758 (Par values in millions of dollars) 5,76 commercial banks 2/ 7,382 26,530 4,34 Held by investors covered in Treasury Survey 493 mutual savings banks 2/ 22,243,362, Insurance companies 290 life , fire, casualty, and marine , savings and loan associations 269,43, corporations,25,032,040 State and local governments 36 general funds 3,652 2,4 2, pension and retirement funds ,54 Held by all other investors 3/ 44,843 27,082 9,52 244,447 78,282 48,045 2,727 3,298 2,67 3,453 3,323 8,438 3,32 9,078 25,880 77,760 24,098,075 0,346 5,289 39,37 24,797 9, ,88,044 8,650 24,48 4, , ,447 78,282 48,045 2,727 3,298 2,67 3,453 3,323 8,438 3,32 9,078 Maturity classes (final maturity): Within year... 20,25 to 5 years... 5 to 0 years... 0 to 5 years... 5 to 20 years years and over... 82,302 22,555 3,83 4,735 0,900 38,934 24,795 9, ,32 2,794 6,278 26,709 4, , ,447 78,282 48,045 2,727 3,298 2,67 3,453 3,323 8,438 3,32 9, , , , , ,986, * 8 4,667, ,5 2, ,996 2, , ,27 57,802 20,479 6, ,37 2,628 55,806 22,087 5,80,376,694 4,305 Footnotes at end of Table TS06. Issue Treasury..bills: Regular weekly and annual maturing: Table TSO3. InterestBearing Marketable Public Debt Securities by Issue amount outstanding / U.S. Government accounts and Federal Reserve banks (Par values in millions of dollars) 5,76 commercial banks 2/ Held by investors covered in Treasury Survey 493 mutual savings banks 2/ Insurance companies 290 life 456 fire, casualty, and marine 488 savings and loan associations 469 corporations State and local governments 36 general funds 87 pension and retirement funds Held by all other investors 3/ Dec ,034 4, ,425 Jan ,926 4, ,0 Feb ,336 5, ,593 Mar ,303 2, ,540 8,70 2, ,68 May ,309 2, ,80 June 97..., * July 97..., * Aug , * * 579 Sept , * * 47 Oct , * * 540 Nov , * 544 Tax anticipation: Mar , o ,472 Apr , ,322 June , ,89 Treasury bills... 84,625 26,266 7, ,25 3, >843 Treasury notes: 53/8% Feb. 97C... 2, ,090 73/4 Feb. 97D... 2, ,629 5/4 May 97A... 4,265, ,26 8 May 97E... 4,76 733, ,779 Footnotes at end of Table TS06. (Continued on following page)

73 January T R E A S U R Y S U R V E Y O P O W N E R S H IP, NOVEMBER 30, 970 Table TSO3. InterestBearing Marketable Public Debt Securities by Issue (Continued) Issue (Bar values in millions of dollars) U. S. Govern 5, ment accounts and cial savings commer mutual outstanding / Federal banks banks Reserve 2/ 2/ banks Held by investors covered in Treasury Survey Insurance companies 290 life 456 fire, casualty, and marine 488 savings and loan associations 469 corporations State and local governments pension general and retirement funds funds Held by all other investors ^/ Treasury notes (Continued): 8/4% Aug. 97F... 2, /8 Nov. 97B...,73^ /4 Nov. 97G... 0,7^3 7,640, * ,69 43/4 Feb. 972A... 2, /2 Feb. 972C... 3, l,44o ,429 43/4 May 972B... 5,30 2,954 i,o4o ,026 63/4 May 972D... 2,038 38, * /4 May 973A... 5,842 2,62, l4 75 4,73 8/8 Aug. 973B..., * i4 5 4i /4 Feb. 974C... 3,l4l 78, * ,066 7/4 May 974D... 4,5 854, ,55 55/8 Aug. 974B... 0,284 5,464 2, ,509 53/4 Nov. 974A... 3,98, ,056 53/4 Feb. 975A... 5,48,622, ,334 6 May 975B... 6,760 4, ,47 6 A Feb. 976A... 3,739 2, /2 May 976B... 2, /2 Aug. 976C... 4,95,42, ,342 8 Feb. 977A... 5,63 2,753, ,056 73/4 Aug. 977B... 2, /2 Apr. 97EA * 8 0 /2 Oct. 97E /2 Apr. 972EA * 7 6 /2 Oct. 972E /2 Apr. 973EA * /2 Oct. 973EO l4 * 4 /2 Apr. 974EA * 8 /2 Oct. 974EO * 9 * 26 /2 Apr. 975EA * 4 /2 Oct. 975EO... 2 * 7 Treasury notes... 0,2 40,258 26,530, ,43,032 2, ,082 Treasury bonds: 2/2% Mar , /2 June , l /2 Sept ,95 06, /2 Dec , ,05 + Aug ,805 6, /8 Nov , , Feb , Aug , Aug , , l,l46 4/8 Nov , , ,27 4/8 Feb. 97^... 3,27 57, /4 May 97^... 3,58 599, ,5 37/8 Nov. 97^... 2, /4 May , * /4 June , Feb. 2, * /2 Nov., i /j+ May , * /4 Aug ,80, l4l 507,207 4 Feb /8 May I9899I+..., * /2 Feb ,735, ,694 3 Feb , /2 Nov , * 02 23,768 Treasury bonds... 58,62,758 4,33,362 2,940,555,753 i,o4o 2,375 2,54 9,52 marketable public debt securities ,447 78,282 48,045 2,727 3,298 2,67 3,453 3,323 8,438 3,32 9,078 Footnotes at end of Table TSO6.

74 Treasury Bulletin.TREASURY SURVEY OP OWNERSHIP, NOVEMBER 30, 970. Table TSO4. InterestBearing Nonmarketable Public Debt Securities by Type Type (Par values in millions of dollars) U.S. Govern 5, amount ment accounts and cial savings commer mutual outstanding / Federal banks banks Reserve banks 2/ 2/ Held by investors covered in Treasury Survey Insurance companies 290 life 456 fire, casualty, and marine 488 savings and loan associations 469 corporations State and local governments pension general ana re funds tirement funds Held by all other investors 2/ U.S. savings bonds: bf Series E ,664. *.. *. * * * * 44,663 Series H... 7,030 * * * * 7,027 U.S. savings bonds... 5,693 * * * * 5,690 Other U.S. securities: Certificates of indebtedness: Foreign Series... 2,56 2,56 Foreign Currency Series Treasury certificates Treasury notes: Foreign Series... 2,457.. _.. 2,457 Foreign Currency Series...,26,26 Depositary bonds / Treasury bonds: Foreign Series Foreign Currency Series... R.E.A. Series Investment Series B... 2,378 2, * Other ,883 2, / * ,586 nonmarketable public debt securities... 6,577 2, / ,276 Footnotes at end of Table TS06. Table TSO5. Securities Issued by Government Agencies Issue ioucll amount outstanding / 7/ U.S. Government accounts and Federal Reserve banks (Par values in millions of dollars) 5, cial banks 2/ Held by investors covered in Treasury Survey mutual savings banks 2/ Insurance companies 290 life 456 fire, casualty, and marine 488 savings and loan associations 469 corporations 36 general funds State smd local irn'.rov'/imqn+ a 87 pension and retirement funds Held by all other investors Jj ExportImport Bank: 6.5% Apr. 973 (Debentures) * 89 Participation certificates..., , Federal Housing Administration: (Debentures) * Government National Morteaee Association: Participation certificates... 7,255 2,25, ,07 Tennessee Valiev Authority: Shortterm notes * % June 974 (Bonds) _ * 84 83/4 June 975 (Bonds) _ 3 2 _ * 0 _ 4.40 Nov. 985 (Bonds) _ * 6 * _ /8 July 986 (Bonds) _ * * 4 * * /2 Feb. 987 (Bonds) * May 992 (Bonds) _ 3 * /8 Nov. 992 (Bonds) _ * 2 _ I/4 Oct. 994 (Bonds) * 3 _ Mar. 995 (Bonds) _ * * 86 9l/4 June 995 (Bonds) * * , Government agency securities covered in survey... 0,76 2,373, ,20 3, Footnotes at end of Table TS06.

75 January 97.TREASURY SURVEY OP OWNERSHIP,NOVEMBER 30, 970 ^ Issue Table TSO6. (Memorandum) Securities Issued by GovernmentSponsored Agencies amount outstanding U.S. Government accounts and Federal Reserve banks and the District of Columbia (Par values in millions of dollars) 5,76 commercial banks 2/ Held by investors covered in Treasury Survey 493 mutual savings banks 2/ Insurance companies 290 life 4.56vfire, casualty, and marine 488 savings '469 and loan corporations associations State and local governments 36 general funds 87 pension and retirement funds Banks for cooperatives 770$ Dec. 970 (Debentures) / Jan. 97 (Debentures) * /4 Feb. 97 (Debentures). 39^ 8/ i Apr. 97 (Debentures). 265 it l6l 6.70 May 97 (Debentures). 324 * Oct. 973 (Debentures) Held by all other investors 3/,70 8/ * Federal home loan banks: '85/BJ Jan. 97 (Bonds) * Feb. 97 (Bonds) * 22 8 Feb. 97 (Bonds) _ Mar. 97 (Bonds) * 542 7/4 Apr. 97 (Bonds)... 4oo 64 i4 * /8 Apr. 97 (Bonds) May 97 (Bonds) * May 97 (Bonds) * June 97 (Bonds) * July 97 (Bonds) Aug. 97 (Bonds) Sept. 97 (Bonds) i Nov. 97 (Bonds) * Feb. 972 (Bonds) * * Feb. 972 (Bonds) May 972 (Bonds) l /8 Nov. 972 (Bonds) * 5 2 * Feb. 973 (Bonds) l * Aug. 973 (Bonds) _ l Jan. 974 (Bonds) _ 26 9 * 8 5 * Feb. 974 (Bonds) _ 53 6 _ Aug. 97^ (Bonds) Nov. 974 (Bonds) May 975 (Bonces) i 7 * Aug. 975 (Bonds) Feb. 980 (Bonds') Oct. 980 (Bonds) Nov. 972 FHLMC 9/ (Mtg,. Backed Bonds' * Nov. 995 FHLMC 9/ (Mtg,. Backed Bonds] i4o 4 8 * 7.. 0,55, l8 2 6,542 Federal intermediate credit banks: (Debentures'). 4,830 8/ ,047 Federal land banks: TTi J W Feb (Bonds) * Feb. 97 (Bonds) Apr. 97 (Bonds) / 4l * 6 _ 4 * 62 8/2 Apr. 97 (Bonds) * _ 209 3/2 May 97 (Bonds) July 97 (Bonds) * 5 9 * July 97 (Bonds) * 85 6 Oct. 97 (Bonds) * 06 2 * Feb. 972 (Bonds) * July 972 (Bonds) / * /8 Sept. 972 (Bonds)... 09' Sept. 972 (Bonds) * /8 Oct. 972 (Bonds) * * Jan. 973 (Bonds) / _ _ 24 4/8 Feb (Bonds) * July 973 (Bonds') / _ 97 8 _ * ' July 973 (Bonds) _ 3 4 _ * _ 4 _ Oct. 973 (Bonds) / 62 7 _ 9 3 * 207 4/2 Feb. 974 (Bonds) Apr. 974 (Bonds) / _ * 82 Jan. 975 (Bonds) _ * 59 ^3/8 Apr. 975 (Bonds) Feb. 976 (Bonds) /S July 976 (Bonds) * 5 * /8 Apr* 978.(Bonds.) Jan. 979 (Bonds) / ,547 8/ 5, ^ 4,282 Footnotes at end of table. (Continued on following page)

76 T REASU RY SURVEY OP OWNERSHIP, NOVEMBER 30, 970 Treasury Bulletin Issue Table TSO6. (Memorandum) Securities Issued by GovernmentSponsored Agencies amount outstanding and the District of Columbia (Continued) U.S. Government accounts and Federal Reserve banks (Par values in millions of dollars) 5,76 commercial banks 2/ Held by investors covered in Treasury Survey 493 mutual savings banks 2/ Insurance companies 290 life 456 fire, casualty, and marine 488 savings and loan associations 469 corporations State and local governments 36 general funds 87 ^pension and retirement funds Held by all other investors 2/ Federal National Mortgage Association: Discount notes 3, ,036 45, $ Dec. 970 Debentures) I Feb. 97 Debentures) ' Mar. 97 Debentures) * Apr. 97 Debentures) May 97 Debentures) June 97 Debentures) * July 97 Debentures) /8 Aug. 97 Debentures) * 4 6 * 30 73/8 Aug. 97 Debentures) * 8 2 _ Aug. 97 Debentures) _ 96 4/2 Sept. 97 Debentures) /4 Sept. 97 Debentures) * Oct. 97 Debentures) * Nov. 97 Debentures) * /8 Dec. 97 Debentures) * _ 295 5/8 Feb. 972 Debentures) * /4 Mar. 972 Debentures) * 44 U _ Mar. 972 Debentures) * /8 June 972 Debentures) * June 972 Debentures) * * Sept. 972 Debentures) * * Sept. 972 Debentures) _ Dec. 972 Debentures) Dec. 972 Debentures) * U Mar. 973 Debentures) _ War. 973 Debentures) _ 58 4/4 June 973 Debentures) U June 973 Debentures) * Sept. 973 Debentures) /4 Mar. 974 Debentures) U * June 974 Debentures) _ Sept. 974 Debentures) * Mar. 975 Debentures)* Sept. 975 Debentures) _ * 73 4/2 Feb. 977 Debentures) Oct. 973 Capital Debentures), * Apr. 975 Capital Debentures) * * 5 2 * 37 8/8 June 97 Mtg. Backed Bonds) /2 Oct. 972 Mtg. Backed Bonds) * * * 34 83/8 June 975 Mtg. Backed Bonds) * /8 Oct. 990 Mtg. Backed Bonds) , 5, , , ,988 District of Columbia: 4.20% Dec (Bonds) * 6 * 3 5 / Securities issued by the Treasuiy and Government agencies that are classified as debt under the new unified budget concept. For debt 6/ subject to limitation, see Table FD9. 2/ Excludes trust departments. 7/ j/ Included with all other investors are those banks, insurance companies, savings and loan associations, corporations, and State and local govemr 8/ ment funds not reporting in the Treasury Survey. Also included are certain Government deposit accounts and Governmentsponsored agencies. 2/ United States saving bonds, Series E, are reported to the Treasury Survey at maturity value but have been adjusted to current redemption value for use in this table. * j/ Includes $2 million depositary bonds held by commercial banks included in the Treasury Survey. Includes ExportImport Bank and Government National Mortgage Association participation certificates. Includes matured securities outstanding on which interest has ceased. Includes securities issued for use as collateral for shortterm borrowings. Obligations of the Federal Home Loan Mortgage Corporation. The capital stock of the Federal Home Loan Mortgage Corporation is held by the twelve Federal Home Loan Banks. Less than $500,000.

77 January MARKET QUOTATIONS ON TREASURY SECURITIES, DECEMBER 3, 970 Current market quotations shown here are overthecounter closing bid quotations in the New York market for the last trading day of the month, as reported to the Treasury by the Federal Reserve Bank of New York. The securities listed include all regularly quoted public marketable securities issued by the United States Treasury. Securities issued by Federal agencies and guaranteed by the United States Government are excluded. Table MQ. Treasury Bills Amount outstanding (millions) Issue date Bank discount Maturity Change from 3week 26week 3week 26week date Bid last month $,802,802,80,800,830,803,80,90, ,90 $,3,305,300,30,300,303,298,403,400,405,402,395,905,40,402,404, ,40,403 0/8/70 0/5/70 0/22/70 0/29/70 /5/70 /2/70 /9/70 /27/70 2/3/70 2/0/70 2/7/70 2/24/70 7/8/70 7/6/70 7/23/70 7/30/70 8/6/70 8/3/70 8/20/70 8/27/70 9/3/70 9/0/70 9/7/70 9/24/70 2/3/70 0//70 0/8/70 0/5/70 0/22/70 0/29/70 /5/70 /2/70 /9/70,400 /27/ , /3/70 2/0/70 2/7/70 2/24/70 2/3/70 /7/7 /4/7 /2/7 /28/7 2/4/7 2//7 2/28/7 2/25/7 3/4/7 3//7 3/8/7 3/25/7 4//7 4/8/7 4/5/7 4/22/7 4/29/7 5/6/7 5/3/7 5/20/7 5/27/7 6/3/7 6/0/7 6/7/7 6/24/7 7//7 4.43% % Amount outstanding (millions) Issue date 9month oneyear 9month oneyear $ $,003,200,20,200,200,20,202,204 50,202,20,20,20 Amount outstanding (millions) 4/30/70 6//70 6/30/70 7/3/70 8/3/70 9/30/70 /2/70 /30/70 /3/70 2/28/70 3/3/70 4/30/70 5/3/70 6/30/70 7/3/70 8/3/70 2/3/70 9/30/70 0/3/70 /30/70 2/3/70 Issue date Maturity date /3/7 2/28/7 3/3/7 4/30/7 5/3/7 6/30/7 7/3/7 8/3/7 9/30/7 0/3/7 /30/7 2/3/7 Maturity date Tax anticipation bills $2,57 2,26 2,55 7/8/70 7/23/70 0/2/70 3/22/7 4/22/7 6/22/7 Bid 4.64%' Bid 4.83% Bank discount Change from last month.34% Bank discount Change from last month.8%.5.5 Table MQ2. Treasury Notes (Price decimals are 32nds) Price Yield Price range since first traded / Amount outstanding (millions) Description Bid Change from last month To maturity Change from last month Issue date High Low Price Date Price Date $2,924 73/4% 2/5/7D $.22% 8/5/ /25/ /29/70 2,509 53/8 _ 2/5/7C /30/ /8/ /9/69 4,265 5/4 5/5/7A /5/ /7/ /8/69 4,76 8 _ 5/5/7E // /23/ /30/69 2,257 3/4 8/5/7F /5/ /23/ i /29/70,734 53/8 _ /5/7B /5/ /7/ //69 0,743 73/4 _ ll/5/7g /5/ n/23/ /29/70 2,006 43/4 _ 2/5/72A /5/ /0/ /29/69 3,375 7/2 2/5/72C /7/ /23/ /7/70 5,30 43/4 5/5/72B /5/ /2/ /29/69 2,037 ^3/4 _ 5/5/72D /6/ /23/ /6/70 5,842 73/4 _ 5/5/73A // /4/ /4/70,839 8/8 8/5/73B /5/ /3/ i /29/70 3,4 73/4 _ 2/5/74C /5/ /4/ /0/70 4,508 7/4 5/5/74D /5/ /4/ i 0/23/70 0,284 55/8 _ 8/5/74B /5/ /2/ /29/69 3,98 53/4 _ II/5/74A /5/ /2/ /29/69 5,43 53/4 _ 2/5/7 5A /5/ /23/ /29/69 6,760 6 _ 5/5/75B /5/ /2/ /30/70 3,739 6/4 2/5/76A /5/ /24/ /30/70 2,697 6/2 _ 5/5/76B /5/ /4/ /30/70 4,94 7/2 8/5/76C // /4/ /4/70 5,63 8 _ 2/5/77A 09, /5/ /4/ /4/70 2,263 73/4 8/5/77B /5/ /4/ /7/70 35 /2 _ 4//7EA // // /2/66 72 /2 _ 0//7E // /3/ /7/66 34 /2 _ 4//72EA 94, // /3/ /20/67 33 /2 _ 0//72E // /3/ /30/70 34 /2 4//73EA // /3/ /30/70 30 /2 _ 0//73E // /3/ /30/70 34 /2 _ 4//74EA // /3/ /30/70 42 /2 0//74E // /3/ /30/70 /2 _ 4//75EA // /3/ /29/70 /2 0//75E // /3/ /30/70 Footnotes at end of Table MQ3.

78 74 Treasury Bulletin MARKET QUOTATIONS ON TREASURY SECURITIES, DECEMBER 3,970 Table MQ3. Treasury Bonds (Price decimals are 32nds) Amount outstanding (millions) Description Bid Price Change from last month To first call or maturity / Yield Change from last month Issue date Price range since first traded l/ High Low Price Date Price Date $,29 2/2% _ 3/5/ $.29$ 2//( /6/ /6/6 2, /5/ o // /26/ /29/66 2,760 37/8 /5/ /5/ /26/ /29/66 2, /5/ /5/ /26/ IO//69,236 2/2 _ 6/5/ // /6/ /6/60 2, /5/ /5/ /26/ /29/69,95 2/2 9/5/ /20/ /6/ /6/60 2,568 2/2 2/5/6772 9^ /5/ /6/ /6/60 3, /5/ /5/ /2/ /29/69 ^,3^5 4/8 _ /5/ /22/ /2/ /29/69 3,27 4/8 2/5/ /5/ /22/ /29/69 3,58 4/4 5/5/ /5/ /2/ /29/69 2,239 37/8 _ /5/ /2/ /22/ /29/69,23 4/4 5/5/ V 5/ /5/ /26/70,5^2 3/4 _ 6/5/ // /4/ /26/70 2,593 4 _ 2/5/ /23/ /2/ /29/69,904 3/2 /5/80 3/ /3/ /2/ /24/70,074 3/4 5/5/85 3/ /3/ // /26/70 4,727 3/2 2/5/90 3/ /4/ /2/ /26/70 3,809 4/4 _ 8/5/8792 3/ /5/ /26/ /26/ /5/8893 3/ /7/ /6/ /26/70,554 4/8 5/5/899^ 3/ /8/ /28/ /26/70,253 3 _ 2/5/95 I/ /5/ /8/ /26/70 3,999 3/2 /5/98 J/ /3/ /2/ /26/70 l/ Beginning April 953, prices are closing bid quotations in the over 2/ On callable issues market convention treats the yields to earliest the counter market. Prices for prior dates are the mean of closing call date as more significant when an issue is selling above par, bid and ask quotations. "When issued" prices are included in the and to maturity when it is selling at par or below, histoiy beginning October 94. Dates of highs and lows in case of 2/ Included in the average yield of long term taxable Treasury Bonds recurrences are the latest dates. as shown under "Average Yields of Long Term Bonds."

79 P E R C E N T ' YIELDS OF TREASURY SECURITIES, DECEMBER 3,970 B a s e d o n Closing B i d Q u o t a t i o n s L E G E N D High coupon issues 7%% and higher X Fixed maturity issues Callable issues plotted to earliest call date when prices are above par and to maturity date when prices are at par or below A 2J6% issues * H% exchange notes + Bills coupon equivalent > C O H * i & Q K m V O 'vl HH o z GO O 2 3 > 3 03 M O a w a> a w o s w M $ o Note: The smooth curve is fitted by eye. Market yields on coupon issues due in less than 3 months are excluded. a

80 76 Treasury Bulletin AVERAGE YIELDS OP LONG TERM «in g Table AY. Average Yields of Treasury, Corporate and Municipal Bonds by Periods Period Treasury bonds / Aa new corporate bonds 2/ I. B. A. new Aa municipal bonds 2/ Treasury bonds / Aa new corporate bonds 2/ I. B. A. new Aa municipal bonds 2/ Treasury bonds / Aa new corporate bonds 2/ Monthly series averages of daily or weekly series I. B. A. new Aa municipal bonds 2/ Treasury bonds / Aa new corporate bonds 2/ / Feb Apr May / / I. B. A. new Aa municipal bonds 2/ July / Aug *52 3* Sept Oct / Nov Dec I Jan v Feb Mar Apr / / May... June o July Aug Sept V o Oct Nov Feb / Mar Apr May July i Aug Oct o Nov / i/ Dec Treasury bonds / Aa new corporate bonds 2/ I. B. A. new Aa municipal bonds 3/ Period Treasury bonds y Aa new corporate bonds 2/ Weekly series average for weeks ending I. B. A. new Aa municipal bonds 3/ Period Treasury bonds / Aa new corporate bonds 2/ I. B. A. new Aa municipal bonds 3/ 970: 970: 970: July Sept. U* / n.a Oct. 2 ' Aug n.a M / Treasury bond yields are based on a composite of closing bid quotations in the overthecounter market. Series includes bonds on which 2/ the interest income is subject to normal tax and surtax which are neither due nor callable before 0 years. For bonds currently in series, see Table MQ3. 4/ 2/ Treasury series based on reoffering yields of new corporate bonds jj/ rated Aa by Moody s Investors Service. The series is calculated to n a> reflect bonds with no call protection. Currently 5 years of call protection is valued at 25 basis points. Index of new issue reoffering yields on Aa 20 year general obligations compiled by Investment Bankers Association of America. Weekly series are not available prior to January 970. One or more new longterm bonds added to the average. An existing bond dropped from the average. Not available.

81 AVERAGE YIELDS OF LONGTERM TREASURY, CORPORATE AND MUNICIPAL BONDS 964 AVERAGE YIELDS OP LONG TERM BONDS M ''J

82 78 Treasury Bulletin EXCHANGE STABILIZATION FUND Table ESF. Balance Sheets as of June 30, 970 and September 30,970p June 30,, 970 September 30, 970p Assets: Cash: With Treasurer of the United States... With Federal Reserve Bank of New York, special account... Imprest fund... $32,396, ,860,367.00, $497,674, ,860,367.00, cash... $620,258,496.8 $762,536,430.7 Special drawing rights... Special account of Secretary of the Treasury with Federal Reserve Bank of New York Gold... Foreign exchange due from foreign banks: / Banque Nationale de Belgique Bank of Canada... Deutsche Bundesbank... Bank of England... Banca d'italia... Sveriges Riksbank..... Banque Nationale Suisse Bank for International Settlements... Investments in: U. S. Government securities... Foreign securities ,88, ,042, , , ,75, ,740, ,777, , , ,870, ,400, ,77, ,88, ,998, , , ,760, ,885, , , , ,840, ,400, ,72,93.5 Prepaid expense Accrued interest receivable U. S. Government securities... Accrued interest receivable SDR Holdings... Accrued interest receivable foreign... 27, ,329, ,548, ,62.0 5,976, Accounts receivable... 2, ,55.7 Deferred charges , , Furniture and equipment Less allowance for depreciation , , , , , , Land and structures... 50, , assets... 2,560,833, ,567,556, Liabilities and capital: Accounts payable: Vouchers payable... Miscellaneous... 3,03, ,353,7.59 accounts payable ,03, ,353,386.6 Contractual obligations , , Special deposit accounts... 7,000, ,000, Advance from U. S. Treasury (U. S. drawings on I.M.F.)... Special drawing rights certificates... Deferred liability DM revaluation , ,789,675.3 Special drawing rights allocations Capital account Deduct subscription to International Monetary Fund... 2,000,000,000.00,800,000, ,880, ,000, ,000,000,000.00,800,000, ,880, ,000, Net income (see Table 2) ,482, ,983, ,560,833, ,567,556, Note: Annual balance sheets for fiscal years 934 through 940 appear in Treasury Bulletin. the 940 Annual Report of the Secretary of the Treasury and those l/ Excludes foreign exchange transactions for future and spot delivery, for succeeding years appear in subsequent reports. Quarterly balance p Preliminary, sheets beginning with December 3, 938, have been published in the

83 January 97 EXCHANGE STABIL IZA T IO N FUND. 79 Table ESF2. Income and Expense Classification January 3, 934 through June 30, 970 January 3, 934 through September 30, 970p Income: Profits on transactions in: Gold and exchange (including profits from $4,84,860.0 $4,388,007.4 Sale of silver to U. S. Treasury... 3,473, ,473, , ,735.27,369,608.84,369, , , Interest on: 8,908, ,99, Special drawing rights... 27, , ,499, , ,498, , Expense: Personnel compensation and benefits... 5,628,22^.98 52,92, ,8, ,229, ,953, ,969,260.3 Rent, communications, and utilities...,550,883.47,58, , ,308.82,333,277.67,703, ,05, ,844, ,482, ,983,93.64 p Preliminary.

84 80 IN TERN ATIONAL 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. A number of changes were introduced in the May 967 Bulletin to increase the usefulness of this section. Table IFS shows the reserve assets of the United States, including its gold stock, special drawing rights held in the Special Drawing Account in the International Monetaiy Fund, holdings of convertible foreign currencies, and reserve position in the International Monetary Fund. Table IFS2 brings together the various statistical components of the liabilities which enter into the United States balance of payments calculated on the liquidity basis. The inclusion of the United States reserve position in the International Monetary Fund in Table IFS requires that the "holdings of dollars of the Fund be excluded from the data on liabilities to foreigners, in order to avoid double counting. Table IFS3 presents an area breakdown of United States liquid liabilities to official institutions of foreign countries. Table IFS4 shows United States 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 United States net monetary gold transactions with foreign countries and international and regional organizations. Table IFS. U.S. Reserve Assets (In millions of dollars) End of calendar year or month reserve assets & Gold stock / Treasury Special drawing rights y Convertible foreign curreneies y Reserve position in International Monetary Fund ,832 22,857 22,78, ,540 20,582 20,534, ,504 9,507 9,456, ,359 7,804 7,767 _, ,753 6,947 6,889 6, ,220 6,057 5,978 _ 99, ,843 5,596 5,53 _ 22, ,672 5,47 5,388 _ ,450 3,806 6/ 3,733 6/ / ,882 3,235 3,59, ,830 2,065,982 2, ,70 0,892 0,367 _ 3,528, ,964 7/,859 0,367 2,78 7/ 2, ,487,072 0, , Dec... 6,964,859 0,367 2,78 2, Jan... 7,396,882, ,294 2,32 Feb... 7,670,906, ,338 2,507 Mar... 7,350,903, ,950 2,577 Apr... 6,99,902, ,58 2,50 May... 6,65,900, ,360 June... 6,328,889, ,32 2,350 July... 6,065,934, ,454 Aug... 5,796,87, ,323 Sept... 5,527,494,7 99,098,944 Oct... 5,20,495,7 99 8,823 Nov... 4,89,478, ,82 Dec... l/ Includes gold sold to the United States by the International Monetary jj/ 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 6/ IFS2. 2/ Includes gold in Exchange Stabilization Fund, which is not included in Treasury gold figures shown in daily Treasury statement. See "Account of the Treasurer of the United States," Table US4, 3/ Includes initial allocation on January, 970, of $867 million of 7/ special drawing rights (SDR) in the Special Drawing Account in the International Monetary Fund, plus or minus transactions in SDR since that time. 4/ Includes holdings of Treasury and Federal Reserve System ,225 The United States has the right to purchase foreign currencies equiva. lent to its reserve position in the Fund automatically if needed. Under appropriate conditions the United States could purchase additional amounts equal to the United States quota. See Table IFS5. Reserve position includes, and gold stock excludes, $259 million gold subscription to the Fund in June 965 for a U.S. quota increase which became effective on February 23, 966. In figures published by the Fund from June 965 through January 966, this gold subscription was included in the U.S. gold stock and excluded from the reserve position. Includes gain of $67 million resulting from revaluation of the German mark in October 969, which $3 million represents gain on German mark holdings at time of revaluation. See also footnotes 3 and 4, Table IFS4.

85 January 97 8.IN TE R N A TIO N A L FINANCIAL S T A T IS T IC S. Table IFS2. U.S. Liquid Liabilities to Foreigners /. 96 S/ / / / / / / /. End of calendar year or month 969Oct. Nov. Dec. 8/. 970Jan.. Feb.. Mar.. Apr.. fey.. June. July... Aug Sept.,.. Oct p.. liquid liabilities to all foreigners 5,825 7/ 6,845 2/ 9,428 { ( ( ( 20,994 2,027 22,853 22,936 24,068 24,068 f26,36 {26,322 28,95 29,002 29,5 29,904 29,779 /33,27 \33,9 /33,828 \33,64,4,776 43,092 0/ 42,852. <4,776 \4,876 42,826 42,972 42,943 43,335 43,98 43,347 43,463 r43,963 44,89 %A,ll7 Liabilities to International Monetary Fund arising from gold transactions i ,0, ,030,030,09 ±, ,00,00,00,00,00,00, Gold deposit / Gold investment 2/ (in millions of dollars) n.a. n.a. 0,20,078,088,830,830 2,748 2,74 4,387 4,353 5,428 5,424 5,372 3,600 3,655 5,653 5,646 2,548 2,48,992 Liabilities to foreign countries Official institutions j/ Shortterm liabilities reported by banks in U. S. 7,97 8,665 9,54 0,22 0, ,997, ,224 3,220 3,066 2,484 2., 539 4,034 4,027,38,38,054 2,686 0/,6 2,04,28,992,992 2,680 4,022 4,763 4,409 4,788 5,289 6,574 6,593 7,777 tl8, ,868 3,23 3,954 3,600 3,977 4,463 5,728 5,747 6,93 7,379' Note: Table is based on Treasury Department data and on data reported to the Treasury Department by banks and! brokers in the United States. 2/ Data correspond to statistics following Trf this section and in the 4/ 'Capital Movements" section, except for minor rounding differences. Table excludes International Monetary Fund "holdings of dollars," and holdings of U.S. Treasury letters of credit and nonnegotiable, noninterestbearing special U.S. notes held by other international and 2/ regional organizations. The liabilities figures are used by the Department of Commerce in the statistics measuring the balance of 6/ international payments of the United States on the liquidity basis; however, the balanceofpayments statistics include certain adjustments to Treasuiy data prior to 963 and some rounding differences, and may differ because of varying timing in incorporating revisions of Treasury data. The table does not include certain nonliquid liabilities to foreign official institutions which enter into the calculation of the 2/ official reserve transactions balance by the Department of Commerce. / Represents liability on gold deposited by the International Monetaiy 8/ Fund to mitigate the impact on the U.S. gold stock of foreign purchases for the purpose of making gold subscriptions to the Fund under quota increases. 2/ If.S^. Government obligations at cost value and funds awaiting invest / ment obtained from proceeds of sales of gold by the International Monetary Fund to the United States to acquire incomeearning assets. Upon termination of investment, the same quantity of gold can be 0/ Marketable U.S. Gov't bonds and notes U n.a. n.a ,27, , Non marketable convertible U.S. Treasury bonds and notes , Banks and other foreigners n.a. n.a. 7,68 7,59 7,598 8,275 8, ,24 9,204,00,056,478 4,387 4,208 5,894 5,763 9,525 9,38 28, /28, , ,06 28,205 28, ,28 26,369 27,54 26,.70 6,374 25,27 25,524 25?062 24,583 Shortterm liabilities reported by banks in U. S. 5,724 5,950 7, ,759 7, ,625 0,680,006 3,859 3,680 5,336 5, ,577 28,66 28,559 27,577 27,676 27,866 26,644 25,893 26,669 26,200 25,838 24,585 24,962 24,495 24,08 Marketable U.S. Gov't bonds and notes w n.a. n.a Liabilities to nonmonetary international and regional organizations n.a. n.a.,90,525, ,6 2,95,960,965,722,722, Shortterm liabilities reported by banks in U. S. 6/ ,250, Marketable U.S. Gov't bonds and notes U n.a. n.a ,52, reacquired by the International Monetaiy Fund. Includes Bank for International Settlements and European Fund. Derived by applying reported transactions to benchmark data; breakdown of transactions by type of holder estimated Includes securities issued by corporations and other agencies of the United States Government, which are guaranteed by the United States. Principally the International Bank for Reconstruction and Development and the InterAmerican Development Bank. Includes difference between cost value and face value of securities in IMF gold investment account. Liabilities data reported to the Treasury include the face value of these securities, but in this table the cost value of the securities is included under "Gold investment." The difference, which amounted to $43 million as of the end of 969, is included in this column. Includes total foreign holdings of U.S. Government bonds and notes, for which breakdown by type of holder is not available. Data on the two lines shown for this date differ because of changes in reporting coverage. Figures on the first line are comparable in coverage to those shown for the preceding date; figures on the second line are comparable to those shown for the following date. Data are comparable in coverage to those shown for the preceding date; for data comparable to those shown /or the following date, see second line opposite December 969. Includes $7 million increase in dollar value of foreign currency liabilities resulting from revaluation of the German mark in October 969. Not available. p Preliminaiy

86 82 IN TERN ATIONAL FINANCIAL STATISTIC S. Treasury Bulletin Table IFS3. U.S. Liquid Liabilities to Official Institutions o f Foreign Countries, by Area / End of calendar year or month foreign countries Western Europe 2/ (In millions of dollars)....,..... Latin Canada American Republics Asia Africa Other countries 3/ ,353 8,445,789,058 2, ,424 9,220,608,238 3, ,372 8,608,528,497 3, h/ f3,600 7,488,89,34 3, ^3,655 7,488,89,34 3, ,646 9, ,3 3, b/ f 2,548 7, ,354 3, ^2,48 7,00 532,354 3, ,992. 5, ,679 3, ct... 2,686 5/ 7,400 5/ 425,485 2, Nov... 2,04 6, ,47 3, Dec...,992 5, ,679 3, Jan... 2,680 6,29 600,743 3, Feb... 4,022 7,25 662,893 3, Mar... 4,763 7, ,09 3, Apr... 4,409 6, ,096 3, May... 4,788 7,3H 762 2,057 3, June... 5,289 8, ,098 3, July... 6,574 9, ,090 3, Aug... 6,593 9, ,973 3, ,777 n, m 620,738 3, Oct p... 8,34, ,77 3, l/ Data represent shortterm liabilities to the official institutions of 4/ foreign countries, as reported by banks in the United States, and foreign official holdings of marketable and convertible nonmarketable U. S. Government securities with an original maturity of more than one year. 2/ Includes Bank for International Settlements and European Fund. j>/ 3/ Includes countries in Oceania and Eastern Europe, and Western European dependencies in Latin America. p 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 fc*r the preceding date; figures on the second line are comparable to those shown for the following date. Includes $7 million increase in dollar value of foreign currency liabilities due to revaluation of the German mark in October 969* Preliminary. Table IFS4. Nonmarketable U.S. Treasury Bonds and Notes Issued to O fficial Institutions of Foreign Countries End of calendar year or month Belgium Canada / (in millions of dollars or dollar equivalent) Payable in dollars Denmark Italy 2/ Korea Payable in foreign currencies Austria Belgium Germany 3/ Italy Sweden Taiwan Thailand Switzerland _ 25 _ _ _ i,44o , _ , , , _ 77 _ 25, _ ; 3,330,692 32, ,638 _. 50 _, _ ,8 b)a, 43 32, ,750 4/,084 4/ ,563 I[2, , ,083 i I Bank for International Settle^ ments Dec... 3,8 4j'l,43l 32, ,750 5/ _,084? _ 970Jan 2.,54,43 32,29 _ 35 5 _ 20 00, _ 54 _ Feb 2,53,43 32, ,083 _ _ Mar... 2,799,77 32, ,083 _ 542 _ 54 _ Apr... 2,897,84 32, , _ 54 _ May... 3,096 2,03 32, ,083 _ _ June... 3,5 2, , , July... 3,508 2, ,229 _ 29 5 _ 20 00, _ 54 _ Aug 3,508 2, , ,083 _ 542 _ 54 _ Sept... 3,508 2, , , _ 54 _ Oct.. 3,567 2, ,289 _ 28 5 _ 20 00, _ 54 _ Nov 3,564 2, , , _ 54 Dec... 3,563 2, , , Note: For further information, see "Public Debt Operations,,r Tables PDO9 and 0. / Includes bonds issued to the Government of Canada in connection with transactions under the Columbia River treaty. Amounts outstanding were $204 million, September 964 through October 965; $74 million, November 965 through October 966; $44 million, November 966 through October 967; $4 million, November 967 through October 968; $84 million, November 968 through September 969; $54 million, October 969 through September 970; and $24 million, October 970 through latest date. 2/ Bonds issued to the Government of Italy in connection with military purchases in the United States. 2/ In addition, nonmarketable Treasury notes amounting to $25 million equivalent were issued to a group of German commercial banks in June 968. The revaluation of the German mark in October 969 increased the dollar value of these notes by $0 million. See also footnote 7, Table IFS. 4/ Includes an increase in dollar value of $84 milliipn resulting from revaluation of the German mark in October 969. See also footnote 7, Table IFS.

87 January INTERNATIONAL FINANCIAL STATISTICS Table IES5, UJEL Position is the International Monetary Fund (in millions of dollars) or month Payments of subscriptions in dollars Transactions affecting IMF holdings of dollars during period U.S. transactions with IMF Net gold sales by IMF ll Transactions in foreign currencies 2/ IMF net income in dollars Transactions by other countries with IMF Purchases of dollars Repurchases in dollars change IMF holdings of dollars at end of period U. S. Amount Percent of U. S. quota reserve position in IMF at end of period y 9^ , , , , , ,336 2,28 52,997 I ll ,570 62, ,+35 59, ,06 7+, ,090 75,035 96^ , * , / ,33 l+,83l lll+ 9k +,7l ,870 75, ,3^3 268,03+ 2, , ^, " 74,929 4,765 7, , , Jan , ,32 Feb , ,507 Mar , , , , , ,360 June , ,350 July , ,454 Aug , ,323 3ept / ,26 62,944 Oct ,337 65, ,348 65,82 Dec..., ,47 4,765 7,935 Note: The initial U.S. quota in the International Monetary Fund was $2,750 million. The U.S. quota was increased to $4,25 million in 959, $5,60 million in February 966, and to $6,700 million in December 970. Under the Articles of Agreement, subscription payments equal to the quota have been made 25 percent in gold and 75 percent in dollars. / Represents net Fund sales of gold to acquire U.S. dollars for use in Fund operations. Does not include transactions in gold relating to gold deposit or gold investment (see Table IFS2). 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. 2/ Beginning January 970, includes dollars obtained by countries other than the United States from sales of gold to the Fund. ij Represents the United States gold tranche position in the Fund (the United States quota minus the Fund's holdings of dollars), which is the amount that theunited States could purchase in foreign currencies automatically if needed. Under appropriate conditions, the United States could purchase additional amounts equal to the United States quota. / Includes $259 million gold subscription to the Fund in June 965 for a U.S. quota increase which became effective on February 23, 966. In figures published by the Fund from June 965 through January 966, this gold subscription was included in the U.S. gold stock and excluded from the reserve position. 6/ Includes $30 million of special drawing rights.

88 84 Treasury Bulletin TNTF.RNATTON AT. FINANCIAL STATTSTTfiS Table IFS6. U.S. Net Monetary Gold Transactions with Foreign Countries and International and Regional Organizations (in millions of dollars at $35 per fine troy ounce; negative figures represent net sales by the United States; positive figures, net acquisitions) Calendar year < Area and country July Sept. Oct. Dec. Jan. Mar. Apr. June July Sept. Western Europe: Belgium France Germany * Italy Netherlands Spain Switzerland ' 50 Turkey * * 2 5 United Kingdom Bank for International Settlements _ Western Europe..., Canada Latin American Republics: Argentina Brazil * _ 29 7 * * * * _ Mexico _ Peru * * * 3 Venezuela _ Other Latin American Republics Asia: Africa: Africa Other countries: other countries foreign countries..., ,03, International and regional organizations / / Grand total...,547 43,009, / Includes International Monetary Fund gold sales to the United States, 2/ Reflects the United States payment of the $259 million increase in gold deposits by the IMF (see Table IFS2, footnote l) and withdrawal its gold subscription to the International Monetary Fund less gold of deposits. The first withdrawal, amounting to $7 million, was deposited by the International Monetary Fund, made in June 968. * Less than $500,000.

89 January 97 CAPITAL MOVEMENTS 85 Background Data relating to capital movements between the United States and foreign countries have been collected since 935, pursuant to Executive Order 6560 of January 5, 93*, Executive Order 0033 of February 8, 9^9 >and Treasury regulations promulgated thereunder. Statistics on the principal types of data and the principal countries axe published monthly in the "Treasury Bulletin. Reports are filed with the Federal Reserve Banks by banks, securities brokers and dealers, and noribanking concerns in the United States. These statistics are then consolidated, and are published by the Treasury as promptly as possible, The report forms and instructions used in the collection of the statistics have been revised a number of times. The most recent general revision of the report forms became effective with reports as of May 3, 963. / The present form of the published presentation of the "Capital Movements statistics was introduced in the May 969 issue of the "Bulletin." The principal changes were the rearrangement of the tables to bring together in separate sections all the data relevant to the same statistical series; the expansion of the time series on aggregate liabilities and claims reported by banks to show more detailed breakdowns 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 centred, 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 cure reported opposite the foreign country or geographical area in which the foreigner is domiciled, as shown on the records of reporting institutions. For a number of reasons,the geographical breakdown of the reported data may not in all cases reflect the ultimate ownership of the assets. Reporting institutions are not eaqpected 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 axe included in the classification "Other Western Europe." "Shortterm" refers to obligations payable on demand or having an original maturity of one year or less. "Longterm" refers to obligations having an original maturity of more than one year, and includes securities having no contractual maturity. Reporting coverage Reports are required from banks, securities brokers and dealers, and nonbanking concerns in the United States, including the branches, agencies, subsidiaries, and other affiliates in the United States of foreign firms. Institutions which have total reportable liabilities, claims or securities transactions below a specified exemption level, based on the average for the report dates during a sixmonth period, including the current report date, are exempt from reporting. Banks file reports monthly covering their shortterm and longterm liabilities to and claims on foreigners; an exemption of $500,000 is applicable to reports in each of these categories. Twice a year they also report their shortterm dollar liabilities to foreigners in countries not shown separately on the monthly report of liabilities. Banks, securities brokers and dealers, and in some instances, nonbanking concerns,report monthly their transactions in securities with foreigners; the applicable exemption level is $0 0,000. Quarterly reports are filed by exporters, importers, industrial and comnercial concerns, financial institutions other than banks and brokers, and other nonbanking firms if their liabilities or claims are $500,000 or more. Such firms also report the liquid portion of their claims for each monthend when they have reportable claims of $ million or more. The foreign credit and debit balances of securities brokers and dealers are reported quarterly; the exemption level applicable to these reports is $00,000. Description of statistics Data collected on the Treasury Foreign Exchange Forms are, published in the "Treasury Bulletin" in six sections. Each section contains all the data relevant to the same statistical series, with tables showing time series by type and country, and the detailed breakdowns of the latest available data. Section I covers the shortterm and longterm liabilities to foreigners reported by banks in the United States. The data exclude the holdings of dollars of the International Monetary Fund derived from payments of the United States subscription and from the exchange transactions and other operations of the Fund. (Liabilities representing the "gold investment" of the Fund, however, are included.) The data also exclude U.S. Treasury letters of credit, and nonnegotiable, noninterestbearing special notes of the United States held by international and regional organizations. Section II presents the shortterm and longterm claims on foreigners reported by banks in the United States,including claims held for their own account and for the account of their domestic customers. The data exclude convertible foreign currencies held by U.S. monetary authorities. Sections III' and IV show respectively the liabilities

90 86 CAPITAL MOVEMENTS Treasury Bulletin 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 IFS+). 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 and sellers of the securities; in the case of outstanding issues, this may differ from the country o the original issuer. The gross figures contain some offsetting transactions between foreigners. The net figures for total transactions represent transactions by foreigners with United States residents; but the net figures for transactions of individual countries and areas may include some transactions between foreigners of different countries. Beginning with data for 969, transactions between foreigners in new issues not offered for sale to United States residents but managed by underwriters in the United States are excluded from the gross figures. Section VI comprises two tables on the money credit and debit balances, as appearing on the books of reporting brokers and dealers in the United States, in accounts of foreigners with them, and in their accounts carried by foreigners. The data published in these sections do not cover all types of reported capital movements between the United States and foreign countries. The principal exclusions 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 United States balance of payments. / Copies of the reporting forms and instructions may be obtained from the Office of Balance of Payments Programs, Operations and Statistics, Office of the Assistant Secretary for International Affairs, Treasury Department, Washington, D.C or from Federal Reserve Banks.

91 January CAPITAL M OVEMENTS. Section I Liabilities to Foreigners Reported by Banks in the United States Table CMI. ShortTerm Liabilities by Type of Foreign Holder End of calendar year or month shortterm liabilities (in millions of dollars) Foreign countries Official institutions / Banks and other foreigners Payable in dollars Payable in foreign currencies Payable in dollars Banks Other foreigners ^Payable in foreign currencies Tntpmatinnal anii T*pcrinna IMF gold investment 2/ Nonmonetaiy international and regional y ,383 3,64 7,97 7,97 5,724 3,43 2, S... 5,367 4,65 8,665 8,665 5,950 3,460 2, , ,54 9,54 7,076 4,60 2,398 77, ,70 7,260 0,22 0,22 7,047, 4,705 2,230 3, / /... f 20,05 8,699 0,940 0, ,759 5,299 2,356 04,37 63 U 704 \ 20,098 8,78 0,940 0, ,84 5,380 2,357 04,37 63 y /... f 2,958 9,907,997, ,9 5,25 2, , ,250 t 2,958 9,874,963, ,9 5,25 2, , , ,877 2,330 2,467 2, ,863 5,73 3,046 04, y /... f 25,467 23,849 3,224 3,224 _ 0,625 7,53 3,354 8, S 25,58 23,9j90 3,220 3,220 0,680 7,23 3,376 90, ,55 24,072 3,066 3,066,006 7,360 3,376 90, / /... f 27,724 26,343 2,484, ,859 0,023 3,743 93, \J27,599 26,29 2,539 2, ,680 9,864 3,743 72, (30,657 29,370 4,034 3, ,337,32 4,28 77, ^ 30,505 29,232 4,027 3, ,205,008 4,20 77, ,77 30,234,38 0, ,96 4,298 4,444 73, /... 40,040 38,63,054 0, ,577 23,42 3, , Nov... 4,53 39,687,28 0, ,559 24,457 3, , Dec... 5/. f 40,040 38,63,054 0, ,577 23,42 3, , ^40,40 38,730,054 0, ,676 23,388 4, , Jan... 4,24 39,734,868, ,867 23,65 4,02 240, Feb... 4,49 39,857 3,23 3, ,644 22,529 3, , Mar.... 4,398 39,847 3,954 3, ,893 2,730 3,964 99, Apr... 4,780 40,269 3,600 3, ,670 22,482 3, i, $ May... 4,625 40,77 3,977 3, ,99 22,00 3, , June... 4,723 40,30 4,463 4, ,838 2,552 4,096 90, Hi 3/ v July... 4,82 40,33 5,728 5, ,585 20,448 3,94 96, Aug... 42,300 40,709 5,747 5, ,962 20,827 3,946 89, Sept... 42,543 a, 426 6,93 6, ,495 20,370 3,97 208, ,565 4,397 7,379 7, ,08 9,937 3, , Nov. p... 42,99 4,77 9,27 9, ,554 8,403 3,957 95, 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 assets. Upon termination of investment, the same quantity of gold can be reacquired by the International Monetary Fund. Principally the International Bank for Reconstruction and Development and the InterAmerican Development Bank. Includes difference between cost value and face value of securities in IMF gold investment account ($+3 million at end 969). In addition, IMF gold investment included investments in U.S. Government bonds and notes which amounted to $09 million at end i960, $87 million at end 96, and $6l million at end 963. Data on the two lines shown for this date differ because of changes in reporting coverage. Figures on the first line are comparable in coverage to those shown for the preceding date; figures on the second line are comparable to those shown for the following date. Data are comparable in coverage to those shown for the preceding date; for data comparable to those shown for the following date, see second line opposite December 969. Preliminary.

92 88 End of calendar year or month foreign countries 3,64 4,65 6,23 7,260 Deposits 3,059 3,5 2,834 3,038.CAPITAL MOVEMENTS. Section I Liabilities to Foreigners Reported by Banks in the United States Table CM2. ShortTerm Liabilities by Type of Liability Part A Foreign Countries Official institutions / Payable in dollars Time 2/ U.S. Other Treasury shortterm bills and certificateties liabili 2/ 4,246 4,392 5,738 6, Payable in foreign currenc ies (In millions of dollars) Deposits 2,737 3,07 3,369 4,20 Time 2/ Banks and other foreigners Payable in dollars U.S. Treasury bills and certificates Other shortterm liabilities 7J Deposits,766,95,833,849 Treasury Bulletin Other foreigners Time 2/ U.S. Treasury bills and certificates Other short* term liabilities 2/ Payable in foreign currencies / < 8,699 8, ,42 6, ,854 4, / y y / ; U { 9,908 9,874 2,330 { 23,849 23,900 ' 24,072 ( 26,343 26,29 ( 29,370 29,232 30,234,402,59,59, ,49,98 3,26 3,234 2,45 2,820 2,86 2,862 2,62 2,668 2,462 2,458,899 2, , ,86 6,36 6, ,486 3, , ,483,36,360,380,378,32 2, , , , , ,795, ,636, ,933, ,763, ,374, j 745, 988; ,039,077,406,842,848,927,973 2,62 4,658,493,523,53, ,797, ,257,27, ,052 2,054 2,99, ' Nov Dec i/ 970Jan Feb Mar Apr May June.. Hi 2/ July.. Aug Sept.. Oct Nov 38,63 39,687 38,63 i38,730 39,734 39,857 39,847 40,269 40,77 40,30 40,33 40,709 4,426 4,397 4,77,894,98,98,649,66,445,295,330,40,553,224,369,444,367 2, ,975 3,263 3,42 3,372 3,426 3,475 3,502 3,62 3,439 3,8 2,857 4, ,749 5,38 5,989 6,035 6,47 7,020 7,946 8,653 0,4 0,99 2,967, ,293 2,705 2,906 2,750 2,656 2,40 2,579 2,08,835,686, ,6 2, ,745, ,745, ,664 2, ,473 2, ,702, ,552, ,029, ,829, ,92, ,446, ,39, ,92, ,746,96 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 ,664 4,658 4,633 4,879 4,952 5,060 5,29 5,0. 4,844 4,740 4,63 4,35 4,028 3,720, ,699,666,767,785.70,770,662:,685,653,607,65,734,8,934,849,790,748,740,779,824,782,764,770,762, T) are comparable to those shown for the following date. hj Data are comparable in coverage to those shown for the preceding date; for data comparable to those shown for the following date, see second line opposite December p Preliminary.

93 January 97 End of calendar year of 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 (in millions of dollars) international and regional investment: U.S. Treasury Deposits bills and certificates / Demand Time 2/ Nonmonetary international and regional organizations 2/ U.S. Treasury bills and certificates Other shortterm liabilities ' * , , U * 96..., / IQAO K/ f 2, [ 2, : , / , , , , Q /7 / r, ^, , , Nov... ~, Dec..., Jan..., Feb..., Mar..., Apr......, May..., J une..., July..., Aug..., Sept..., Oct. p..., Nov. p..., / 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 ij the United States to acquire incomeearning assets. Upon termination of investment, the same quantity of gold can be reacquired by the International Monetary Fund. j>/ 2/ Principally the International Bank for Reconstruction and Development and the InterAmerican Development Bank; excludes Bank for International Settlements and European Fund. Includes difference between cost value and face value of securities in IMF gold investment account p ($43 million at end 969). * Time deposits exclude negotiable time certificates of deposit, which are included in "Other shortterm liabilities." In addition, IMF gold investment included investments in U.S. Government bonds and notes which amounted to #09 million at end I960, $87 million at end 96, and $6 million at end 963. Data on the two lines shown for this date differ because of changes in reporting coverage. Figures on the first line are comparable in coverage to those shown for the preceding date; figures on the second line are comparable to those shown for the following date. Preliminary. Less than $500,000.

94 Treasury Bulletin CAPITAL M O VEM EN TS 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) Country Calendar year / June July August September October p November p«europe: ,330,383,58,58,95 2,030 2,282 2,286 2,3 2,47 2,27 2,640,38,38 3,455 4,24 4,505 5,439 5,977 7, , ,04, ,732 2,55 2,002 2,005 2,266 2,92 2,032 2,05,985, ,667 6,33,347,349 9,48 8,339 8,600 9,3 7,778 6, ^ ,553,553,49,548, U.S.S.R Other Eastern Europe Europe... 6,94 6,70 2,667 2,674 22,403 22,59 22,956 24,8 23,608 24,9 2,709 2,797 3,99 4,02 3,42 3,646 3,827 3,787 4,529 4,23 Latin America: Chile Other Latin American Republics Bahamas and Bermuda ,405,405,505,306,89, Netherlands Antilles and Surinam ,34 4,664 5,57 5,636 6,23 5,967 5,740 5,300 5,069 5,068 Asia: ,62 3,320 3,788 3,788 3,995 3,94 3,969 4,8 4,242 4, ,54 5,953 6,396 6,396 6,987 6,93 6,925 7,02 7,0i 7,372 Africa: United Arab Republic (Egypt) Africa Other countries: ' VK other countries , foreign countries... 29,232 30,234 38,63 38,730 40,30 40,33 40,709 4,426 4,397 4,77 International and regional.: International...,75,372,257,257,89,245, European regional Latin American regional Asian regional African regional... 4 * * international and regional.,273,483,409,409,42,498,59,7,68 r,i48 Grand total ,505 3,77 40,040 40,40 4,723 4,82 42,300 42,543 42,565 **2,99 / Data in the two columns shown for this date differ because of changes column are comparable to those shown for the following date, in reporting coverage. Figures in the first column are comparable in * Less than $500,000. coverage to those shown for the preceding date; figures in the second p Preliminary.

95 January 97 9 CAPITAL M O VEM EN TS. Section I Liabilities to Foreigners Reported by Banks in the United States Table CMI4. ShortTerm Liabilities, by Type and Country, as of November 30, 970 Preliminary Country shortterm liabilities (Position in millions of dollars) To foreign banks and official institutions Deposits / Shortterm liabilities payable in dollars U. S. Treasury bills and certificates Other / Deposits / To all other foreigners u. s. Treasury bills and certificates Other / Shortterm liabilities payable in fore ign currencies Europe: Austria * * * BelgiumLuxembourg o 9 8 * Denmark * * * Finland l 9 57 _ * * France... 2,+7 2,347, Germany... 7,5*6 7, , Greece * * * Italy...,55, Netherlands Norway * Portugal * * Spain i4o * 7 * Sweden * * * Switzerland...,909, Turkey * * 5 United Kingdom... 6,659 6,366 5, Yugoslavia _ * Other Western Europe... 83b * * 48 U.S.S.R * * * Other Eastern Europe... b * * * Europe... 24,9 22,93 9,95 0,86 2, Canada ,23 3,796 3, Latin America: Argentina * 7 * Brazil * Chile * 2 * Colombia... ;... 2bb * 2 * Cuba... 7 _ 7 6 * _ Mexico Panama i 4i _ * Peru * 2 * Uruguay i4 * Venezuela * * 2 Other Latin American Republics * Bahamas and Bermuda * 62 l6l Netherlands Antilles and Surinam * Other Latin America... bb 9 9 * * * 2 * Latin America... 5,068 2,94 2, ,26, Asia: China Mainland * Hong Kong... 27b * 6 * India o i4 4 _ 6 Indonesia * Israel * * Japan... 4,527 4,467 i,4o6,346, * 4 2 Korea Philippines o * 6 * Taiwan l 4i 20 9 Thailand * * * Other Asia * 3 4 Asia... 7,372 6,943 2,936,859 2,l48 4i i4 Africa: Congo (Kinshasa)... 7 i4 9 5 * 3 3 Morocco * 2 2 * * South Africa * * United Arab Republic (Egypt) * Other Africa io * 4 * Africa * 5 * Other countries: Australia * 5 All other * * other countries... >... foreign countries... International and regional: l * 5 4,77 37,47 8,886 2,988 5,597 3,957 3, International * * * European regional * * Latin American regional * * Asian regional i 4 36 * * African regional * * * international and regional...,48, * * * Grand total... *2, ,69 9,094 3,536 5,989 3,957 3, / Deposits exclude negotiable time certificates of deposit, which are included in Other" shortterm liabilities. v Less than $500,000.

96 Treasury Bulletin CAPITAL M OVEM ENTS 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) Calendar year April December April "Other Western Europe" Cyprus Iceland Ireland, Republic of Luxembourg u U ll / Malta... l Monaco "Other Eastern Europe" Bulgaria Czechoslovakia Estonia Hungary Poland Rumania Soviet Zone of Germany n.a. "Other Latin American Republics" Bolivia Costa Rica... 3* Dominican Republic ' Ecuador , El Salvador finfl/hemaia,r, Guyana (British Guiana)... * Haiti Honduras Jamaica Nicaragua Paraguay Trinidad and Tobago "Other Latin America" British Honduras n.a. British West Indies French West Indies and French Guiana "Other Asia" Afghanistan Bahrain n.a. Burma ^ n.a. Cambodia Ceylon Iran l l Iraq Jordan o Kuwait Laos Lebanon Malaysia i Muscat and Crnan... * * n.a. Nepal... ' n.a. Pakistan *+ Qatar... * Ryukyu Islands (including Okinawa) / n.a. Saudi Arabia Singapore Southern Yemen (Aden and South Arabia)... k Syria Trucial States Viet Nam o 94 9 "Other Africa" Algeria Ethiopia (including Eritrea) F.T.A.I. (French Somaliland) Ghana Ivory Coast Kenya Liberia /A Libya Mozambique Nigeria "Portuguese West Africa" Southern Rhodesia Sudan Tanzania IQ 8 Tunisia Uganda... * Zambia "Other Countries" New Zealand Note: Data represent a partial breakdown of the amounts shown for the cor 2/ Data exclude $2 million resulting from changes in reporting coverage responding dates for the Other categories in the regular monthly and classification. series in the Treasury Bulletin." n.a. Not available. / Included with Belgium (see Section I, Table CMI3). * Less than $500,000.

97 January CAPITAL MOVEMENTS Section I Liabilities to Foreigners Reported by Banks in the United States Table CMI6. LongTerm Liabilities by Type (in millions of dollars) Payable in dollars End of calendar year or month longterm liabilities / Official institutions Foreign countries Banks Other foreigners International and regional Payable in foreign currencies n. a. n. a. n.a. n. a n.a. n. a. n. a. _ n.a n.a. n.a. n.a. _ n.a n.a. n.a. n.a. _ n.a n.a. n.a. n.a. _ n.a n.a. n.a. n.a. _ n.a n.a. n.a. n.a. 42 n.a n.a. n.a. n.a. 06 n.a n.a. n.a. n.a. 3 n.a , /... /2,546,858, _ ^2,560,863, ,65 2,389 2,3a ,495,602, Nov... 2,486,583, Dec ,*95,602, o Jan... 2,345,465,37^ Feb... 2,346,47, Mar... 2,348,454, Apr... 2,277,430, May... 2,220,362, _ June... 2,35,286, July... 2,05,224, Aug...,95, _ Sept...,92, ,840, Nov. p..., / Dollarforeign currency breakdown not available prior to 966; 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 p Preliminary, in reporting coverage. Figures on the first line are comparable in n.a. Not available.

98 94 Treasury Bulletin CAPITAL M O VEM EN TS Section I Liabilities to Foreigners Reported by Banks in the United States Table CMI7. LongTerm Liabilities by Country (Position at end of period in millions of dollars) Country Calendar year / June July August September October, p November p Europe: Austria... _ BelgiumLuxembourg... _ * * * * * _ * Finland... * * * * * * France... * * * * Germany... 2 * Greece * * * * Netherlands * * * * * * * * * * * * * * 5 * * 2 * * * * Switzerland * * * * * * * * 4 * United Kingdom * k9 Yugoslavia... * * * * * * * * * * * * * * 5 Other Eastern Europe... * * * * * * Europe... Ill * * * Latin America: Argentina... _ Chile... _ X * * Colombia... * * * * * * * Peru * * * * Uruguay... * * * * * * * * Venezuela Other Latin American Republics... * Bahamas and Bermuda Netherlands Antilles and Surinam * * * * * * * * * * * * Asia: * * * * * * * * * * * * * * * * * * * Israel Japan Philippines Asia ,289,289,75, Africa: Congo (Kinshasa)... Morocco... _ * * * * * * * _ * * * * * * * * United Arab Republic (Egypt)... * _ * * * * * * * * * * * Other countries: Australia All other... * * 0 2 * * * * * * foreign countries ,858,863 2,389,602,286,224,6,062, International and regional: International... European regional _ 593 _ 586 _ 599 _ 62 _ 56 _ 520 Latin American regional ' Asian regional ' international and regional Grand total...,494 2,546 2,560 3,66 2,495 2,35 2,05,95,92,840,73^ / Data in the two columns shown for this date differ because of changes column are comparable to those shown for the following date, in reporting coverage. Figures in the first column are comparable in * Less than $500,000. coverage to those shown for the preceding date; figures in the second p Preliminary.

99 January 97 CAPITAL M OVEM ENTS End of calendar year or month shortterm claims Section II Claims on Foreigners Reported by Banks in the United States Table CMII. ShortTerm Claims by Type Official institutions Loans (In millions of dollars) Payable in dollars Banks Other foreigners Collections outstanding for account of reporting baiiks and domestic customers Acceptances made for account of foreigners Other shortterm claims Payable in foreign currencies Deposits of reporting baiiks and domestic customers with foreigners Fore ign government obligations and commercial and finance paper ,99 2, tb L ,542 2,344, ,599 2,407, ,594 3,35, , /... 4,79 4,77, , <4,777 4,234, , ,0 4,606, , ,887 5,344, , / /7,4 6,80 2, ,374,055,007 2, V7,957 7,333 2,773 22,403,50,35 2, /... Other shortterm claims [7,632 7,58 2,968 27,566,30,268 2, <7,735 5,243 2,970 27,567,32,272 2, /... (7,89 7,399 3,39 256,739,43,367 2, <7,853 7,433 3,4 256,739,45,288 2, / ]8,583 8,58 3,37 306,603,228,5 3, <8,606 8,82 3,50 306,66,228,552 3, ,7 8,26 3,65 247,697,22,733 2, /.... 9,578 9,063 3,28 262,946,073,954 3, Nov... 9,044 8, 6Io 3,203 26, ,928 2, p,578 9,063 3, Dec /,946,073,954 3, <9,606 9,09 3, ,943,073,954 3, Jan... 9,305 8,804 3, ,986,08,970 3, Feb... 9,20 8,750 3, ,94,029,992 2, Mar... 9,3^0 8,926 3, ,922,074 2,083 3, Apr... 9,430 8,952 3,6 335,734,047 2,53 3, May... 9,74 9,26 3,93 35,825,053 2,220 3, June... 9,904 9,437 3,36 305,932,079 2,238 3, July... 9,66 9,95 3,9 256,873,063 2,244 3, Aug... 9,40 8,937 2,975 78,7,087 2,245 3, Sept... 9,626 9,47 3,229 86,936,08 2,275 3, Oct, p... 9,725 9,205 3,28 09,898,2 2,33 3, Nov. p... 9,964. 9,394 3,26 95,892,39 2,33 3, l^data on the two lines shown for this date differ because of changes 2/ Data are comparable in coverage to those shown for the preceding daie; in reporting coverage. Figures on the first line are comparable in for data comparable to those shown for the following date, see second coverage to those shown' for the preceding date; figures on the line opposite December 969. second line are comparable to those shown for the following date. p Preliminaiy.

100 96 Treasury Bulletin CAPITAL M O VEM EN TS Section II Claims on Foreigners Reported by Banks in the United States Table CMII2. ShortTerm Claims by Country (Position at end of period in millions of dollars) Country Calendar year / / June July August September. October p November ] Europe: Austria BelgiumLuxembourg 2 J Denmark o 4o Finland France io Germany Italy Netherlands Norway o 48 4i Sweden Switzerland Turkey United Kingdom l Yugoslavia Other Western Europe 2/... 4o U.S.S.R Other Eastern Europe i Europe...,374,234,238,205,463,454,449,345,30,442,436, Q ^9 & Latin America: Argentina Chile Mexico Panama Peru Uruguay Venezuela Other Latin American Republics Netherlands Antilles and Surinam Other Latin America ,453 2,707 2,707 2,889 2,803 2,802 2,946 2,900 2,867 2,943 3,043 3,072 Asia: China Mainland... l l Indonesia l ,572 3,47 3,54 3,4 3,342 3,372 3,407 3,378 3,276 3,225 3,263 3,43 Korea Philippines Asia... 3,206 3,875 3,894 3,872 4,26 4,29 4,455 4,406 4,234 4,98 4,54 4,293 Africa: United Arab Republic (Egypt) Other countries: Australia All other _., foreign countries... 7,853 8,583 8,606 8,70 9,576 9,604 9,903 9,6l4 9,399 9,624 9,723.., ^26... International and regional... * * * 2 2 l 2 2 l 3 Grand total... 7,853 8,583 8,606 8,7 9,578 9,606 9,904 9,66 9,40 9,626 9,725 9,964 / Data in the two columns shown for this date differ because of changes 2/ Through 967, column, Luxembourg included in "Other Western Europe. in reporting coverage. Figures in the first column are comparable in * Less than $500,000. coverage to those shown for the preceding date; figures in the second p Preliminary, column are comparable to those shown for the following date.

101 January Country P A P T T A T. M n V R M R N T S Section II Claims on Foreigners Reported by Banks in the United States Table CMII3. ShortTerm Claims, by Type and Country, as of November 30, 970 Preliminary (Position in millions of dollars) short term claims Shortterm claims payable in dollars Foreign banks and official institutions Other Collections Accept outstanding ances for account made for of reporting account banks of and domestic foreigners customers Other Shortterm claims payable in foreign currencies Deposits of reporting banks and domestic custoners with foreigners Foreign government obligations and commercial and finance paper Europe: Austria * * * * Denmark * 2 * Finland * 4 46 * * * France * Germany * * 8 8 Italy * * * Portugal * * * * Spain * Sweden * Switzerland * * Turkey * 3 * * * United Kingdom Yugoslavia * 2 4 * * * Other Western Europe * 6 * * * Other Eastern Europe * 2 22 Europe...,493, * 6 Canada Latin America: * * 7 Chile * * * Colombia * * Cuba * * 3 Mexico Panama * Peru * * * * Uruguay * * * * Other Latin American Republics * _ * Bahamas and Bermuda _ * Netherlands Antilles and Surinam * * * * Other Latin America * Latin America... 3,072 2,995, Asia: China Mainland... * * * * Hong Kong * * * India * 9 * * * * Indonesia * Israel * * Japan... 3,43 3, ,25, Korea Taiwan * * * Thailand * Asia... 4,293 4, ,335 2, * 3 Africa: Congo (Kinshasa) * * * 2 * * * 4 4 * * * 3 * * * * South Africa * United Arab Republic (Egypt) * * * * 9 * * Other Africa * Africa Other countries: Australia * * 3 * * * other countries * 7 6 foreign countries... 9,96 9,39 3,24,985,38 2,33 3, International and regional......jl * Grand total... 9,964 9,394 3,26,987,39 2,33 3, * less than $500,000. Other

102 98 Treasury Bulletin.CAPITAL MOVEMENTS. Section II Claims on Foreigners Reported by Banks in the United States Table CMII4. LongTerm Claims by Type (in millions of dollars) End of calendar year or month longterm claims Payable in dollars Official institutions Loans Other foreigners Other longterm claims Payable in foreign currencies May l/. 963 /. 964 / Nov. Dec. 970Jan.. Feb.. Mar.. Apr.. May.. June. July.. Aug Sept... Oct. p. Nov. p.,74,362,545,698 2,034 2,60 2,293 2,379 2,837 3,030 '3,97.4,285 4,57 4,80 3,925 3, , ,87 3,6 3,226 3,248 3,232 3,65 3,4 3,7 3,4 3,25 3,89 n.a. n.a. n.a. n.a. n.a. n.a. 2,293 2,379 2,834 3,028 3,97 4,283 4,508 4,62 3,909 3, , ,58 3,29 3,95 3,26 3,202 3,38 3,085 3,088 3,3 3,85 3,63 n.a n.a n.a. 2,260 2,346 2,78 2,8 3,777 3,995 4,2 3,95 3,635 3,58 2,806 2,846 2, ,727 2,796 2,85 2,822 2,776 2,733 2, ,827 2,808 / Data on the two lines shovm for this date differ because of changes in reporting coverage. Figures on the first line are comparable in coverage to those shewn for the preceding date; figures on the n.a n.a n.a. n.a. n.a n.a.,328,342,659,685 2,372 2,550 2,790 2,702 2,642 2,393 2,096 2,47 2, ,046 2,067 2,087 2,00 2,080 2,044 2,023 2,046 2, n.a. n.a. n.a n.a. n.a. n.a. n.a. n.a. n.a. 2 2 * second line are comparable to those shown for the following date. Not available. Preliminary. * Less than $500,000.

103 January CAPITAL MOVEMENTS Section II Claims on Foreigners Reported by Banks in the United States Table CMII5. LongTerm Claims by Country (Position at end of period in millions of dollars) Calendar year 970 Country June July August September October p November, p Europe: bb b Norway * * * * * * , ll 46 I Latin America: Chile _ * * Other Latin American Republics Netherlands Antilles and Surinam Other Latin America ,346,556,375,329,328,324,32,345,329,336 Asia: * * India # * Israel Korea Asia Africa: United Arab Republic (Egypt) * * Other countries: All other other countries foreign countries... 4,79 3,922 3,565 3, ,2 3,6 3, ,88 International and regional Grand total... 4?l8P 3, l/ Through November 967, Luxembourg included in "Other Western Europe." * Less than $500,000. p Preliminary.

104 00 Treasury Bulletin CAPITA!. MOVEMENTS Section II Claims on Foreigners Reported by Banks in the United States Table CMII6. LongTerm Claims, by Type and Country, as of November 30, 970 Preliminary (Position in millions of dollars) Country Longterm claims payable in dollars longterm claims Loans Other Long term claims payable in foreign currencies Europe: Belgium Luxembourg * Denmark * France Germany * Greece... 4l 4l 40 * Italy Netherlands Portugal... l4 4 i4 * Spain Sweden * Switzerland * Turkey... * * * * United Kingdom * Yugoslavia * Other Western Europe * Other Eastern Europe... * " Europe Latin America: Argentina * Brazil Chile Colombia Cuba... * * * I&nama l 5 Bsru Uruguay Venezuela Other Latin American Republics i4 Bahamas and Bermuda * Netherlands Antilles and Surinam * Other Latin America *,336,37, Asia: China Mainland... Hong Kong * India... 4l 4l 4o l Indonesia Israel Japan * Korea Philippines Thailand Asia * Africa: Congo (Kinshasa) Morocco * South Africa United Arab Republic (Egypt)... * * * Other Africa Africa Other countries: Australia All other * other countries i4 3,88 3,62 2, International and regional... Grand total... 3, , * Less than $500,000.

105 January 97 0.CAPITAL MOVEMENTS. Section III Liabilities to Foreigners Reported by Nonbanking Concerns in the United States Table CMIII. Liabilities by Type (In millions of dollars) End of calendar year or quarterend month / liabilities Shortterm liabilities Payable in dollars Payable in foreign currencies Longterm liabilities ' /... 96Mar. 2/ June 2/ L a \ 70 J \ ^ J Dec June 2/... J f [ ^ J Dec. 2/... i ( 798 [ \ J June 2/.... f A \ / 40 Dec /... ( s ) , f 36 t /... fl,784 ^,85,37,386, , ,737,608, ,29 969June ,938*,63, ,325 Sept ,25,797, ,48 Dec. 2 / 2 /... f3,5 [4,327,786 2,36,399, ,725 2,90 970Mar... 4,490 2,69, ,32 June p... 4,900 2,356, ,544 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. / 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 bn the two lines shown for this date differ because of changes in reporting coverage. Figures on the first line are comparable in cover age to those shown for the preceding date; figures on the second line are comparable to those shown for the following date. 2/ Data in the second line include amounts reported by firms reporting for the first time as a result of a canvass of nonbanking business concerns in the United States. p Preliminary.

106 02.CAPITAL MOVEMENTS Section III Liabilities to Foreigners Reported by Nonbanking Concerns in the United States Table CMIII2. ShortTerm Liabilities by Country Treasury Bulletin (Position at end of period in millions of dollars) Country Calendar year / 968 June September December / 2/ March June p Europe: BelgiumLuxembourg / Denmark # 2 2 France Greece ' Spain * Switzerland Turkey Yugoslavia * * 5 2 Other Western Europe / X r # 2 Other Eastern Europe... * ,034 99,36,02,365,49, Latin America: Chile Colombia # # * # * * # # # Panama Venezuela Other Latin American Republics Netherlands Antilles and Surinam Other Latin America Asia: China Mainland... Hong Kong India _ Korea Africa: Congo (Kinshasa) * * * # * United Arab Republic (Egypt) Other countries: All other other countries foreign countries...,089,370,386,608,63,797,786 2,36 2,69 2,356 International and regional... * # * * * * * * * # Grand total...,089,37,386,608,63,797,786 2,36 2,69 2,356 / Data in the two columns shown for this date differ because of changes in reporting coverage. Figures in the first column are comparable in coverage to those shown for the preceding date; figures in the second column are comparable to those shown for the following date. 2/ Data in the second column include amounts reported by firms reporting for the first time as a result of a canvass of nonbanking business concerns in the United States. 2/ Through December 967, Luxembourg included in "Other Western Europe." p Preliminary. * Less than $500,000.

107 January 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 June 30, 970 Preliminary (Position in millions of dollars) Country shortterm liabilities Payable in dollars Payable in foreign currencies Europe: + 4 * Denmark * Finland... * France Greece * Netherlands * Portugal o Switzerland * Yugoslavia... * Other Western Europe * 2 2 * Other Eastern Europe... * Europe...,526,25 4oi Canada Latin America: 5 i4 2 Brazil Chile Cuba... * * * 2 20 Panama * * Venezuela Other Latin American Republics Bahamas and Bermuda Netherlands Antilles and Surinam * Other Latin America * Asia: China Mainland... * India Indonesia Israel Korea... Il * Philippines * Thailand Other Asia Asia Africa: Congo (Kinshasa) * 2 2 * United Arab Republic (Egypt) l 4o Other countries: other countries _ foreign countries... 2, International and regional... * * Grand total... 2,356, * Less than $500,000.

108 04 Treasury Bulletin f!apttat. MOVEMENTS Section III Liabilities to Foreigners Reported by Nonbanking Concerns in the United States Table CMIII4. LongTerm Liabilities by Country (Position at end of period in millions of dollars) Country Calendar year / 968 June September December / 2/ March June p Europe: Austria... # * * * BelgiumLuxembourg 2 / Denmark... # * * * * # * * France Greece * * # * * # * * * * Netherlands * * # * * # # * # Spain * * # * * # # * * * Turkey... # _ * 6 United Kingdom Yugoslavia... # # # # * * # * * V Other Western Europe 2J _ Other Eastern Europe... Europe ,04,233,296 *582 2,000 2,30 2, '56 60 Latin America: Argentina # 3 3 * Chile... * * * * * * * * * # * # # # * Cuba... * * * * * * * * Panama * # # # # * * # * * Uruguay... * * # # * # * # Other Latin American Republics... * * * 2 2 Bahamas and Bermuda Netherlands Antilles and Surinam. * # Other Latin America... * * * * * * * Asia: China Mainland... * * # * * * # * * * Hong Kong... # * * # * * * * India... * * # # * * * Indonesia... # Israel... _ * * * # # Japan... * # # # # # Korea... * _ * * * * * * Philippines... * # * * * # # * * * _ * * * * Thailand... _ * # # # * # * Other Asia Asia Africa: Congo (Kinshasa).... Morocco... _ # # * * South Africa... _ United Arab Republic (Egypt)... * * * * * # * * # * * * * # * * Other countries: Australia... * _ All other... _ * # # * other countries... * _...,7_. A i 5 foreign countries ,29,325,43,,725 2,90 '2,32, 2,544 International and regional...;...! Grand total ,29,325,48,725 2,90 2,32 2,544 / Data in the two columns shown for this date differ because of changes in reporting coverage. Figures in the first column are comparable in coverage to those shown for the preceding date; figures in the second column are comparable to those shown for the following date. 2/ Data in the second column include amounts reported by firms reporting for the first time as A result of a canvass of nonbanking business concerns in the United,States. 2/ Through December 967, Luxembourg included in "Other Western Europe. * Less than $500,000. p Preliminary.

109 January End of calendar year or quarterend month /.CAPITAL MOVEMENTS. Section IV Claims on Foreigners Reported by Nonbanking Concerns in the United States claims Table CMIV. Claims by Type (In millions of dollars) Payable in dollars Shortterm claims Payable in foreign currencies Deposits with banks abroad in reporter's, own name Other shortterm claims payable in foreign currencies Longterm claims , /... f,775 ^,859,432, March 2/... f,633 ^,70,248, June 2/... f,895,496,528,8, September 2/... f 2,099 2,7,646,664,323, J 453 December... 2,38,636, June 2/... f 2,443 \ 2,678,807,974,475, December 2/... f 2,809 ^ 2,867 2,05 2,098,625, March 2/... f 2,929 I 2,979 2,3 2,62,72, ^ 200 J 86 June 2/... f 3,048* ^ 3,64J 2,282, f 766 \882 December 2/... f 2,854 2,922 2,3 2,88,739, June 2/.... f 3,297 ^ 3,245 2,482 2,430 2,000, ^ 260 J 85 December 2/... f 3,738 3,934 2,776 2,853 2,306 2, , /... f 3,565 3,438 2,397 2,299 2,000, ,69, ,884 2,628 2, , /... to to H sf ir\ \ 2,946 3,0 2,529 2, ,537, ,572 3,783 3, ,790 5,975 4,023 3, ,952 September... 5,839 3,874 3, ,965 December 2/ 2/ f 5,925 ^ 6,585 3,70 4,253 3,24 3, ,25 2, March... 7,085 4,372 3, ,73 June p... 7,82 4,457 3, ,725 Note: Breaks in series arising from changes in reporting coverage which 2/ 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. l/ Data are shorn for calendar year ends and for the most recent five 2/ quarter ends for which figures are available. Data are also shown for earlier quarter ends when the reporting coverage changed. Data on the two lines shown for this date differ because of changes in reporting coverage. Figures on the first line are comparable in coverage to those shown for the preceding date; figures on the second line are comparable to those shown for the following date. Data in the second line include amounts reported by firms reporting for the first time as a result of a canvass of nonbanking business concerns in the United States. p Preliminary.

110 06 CAPITAL MOVEMENTS Section IV Claims on Foreigners Reported by Nonbanking Concerns in the United States Table CMIV2. ShortTerm Claims by Country Treasury Bulletin (Position at end of period in millions of dollars) Country Calendar year 969 9r, / 968 June September December l/ 2/ March June p Europe: Austria BelgiumLuxembourg Denmark Finland... k ill Germany Netherlands i Portugal Turkey l ,22,234,99 929,060,338,29 Yugoslavia.... k lk Other Western Europe * * Other Eastern Europe Europe...,209,369,449 2,039 2,3 2,053 h? 2 2 2,057 2,46 Canada Latin America: Argentina Brazil Chile o 4i ' l4l l Peru Uruguay Venezuela $ Other Latin American Republics Netherlands Antilles and Surinam. k lk Asia: China Mainland... * * * * * * * * * * India Indonesia Japan Korea Philippines Taiwan ' _ Africa: Congo (Kinshasa) lk Africa Other countries: All other , _ _ foreign countries... 2,627 2,946 3,00 3,782 4^,02 3,873 3,709 4,252 A,37..4,455 International and regional... * * * 2 2 * * 2 Grand total... 2,628 2,946 3,0 3,783 4,023 3,874 3,70 4,253 4,372 4,457 / Data in the two columns shown for this date differ because of changes in reporting coverage. Figures in the first column are comparable in coverage to those shown for the preceding date; figures in the second Jj column are comparable to those shown for the following date. * 2/ Data in the second column include amounts reported by firms reporting p for the first time as a result of a canvass of nonbanking business concerns in the United States. Through December 967, Luxembourg included in "Other Western Europe." Less than $500,000. Preliminary.

111 January 97 Country 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 June 30, 970 Preliminary (Position in millions of dollars) shortterm claims Payable in dollars Deposits with banks abroad in reporter's own name Payable in foreign currencies 07 Other shortterm claims payable in foreign currencies Europe: Austria * * BelgiumLuxembourg.... 6l Denmark * * 8 8 * * Greece l Italy Netherlands * * 8 8 * * Spain * l *,29,0* * * 2 2 * * 2 2 * * Other Eastern Europe * * Europe... 2,46, Latin America: Argentina * Chile Colombia Cuba * 3 20 * 0 Panama * * 4 Uruguay * Other Latin American Republics Bahamas and Bermuda Netherlands Antilles and Surinam. 8 8 * * Other Latin America Asia: * * * Hong Kong * l Israel * 2 Japan * Philippines * * 5 4 * Africa: C ongo (Kinshasa) * 3 3 * United Arab Republic (Egypt) Other Africa l 3 2 Africa Other countries: Australia * 2 other countries foreign countries... 4,455 3, International and regional ,457 3,86 29b 348 * Less than $500,000.

112 08 Treasury Bulletin.CAPITAL MOVEMENTS Section IV Claims on Foreigners Reported by Nonbanking Concerns in the United States Table CMIV4. ShortTerm Liquid Claims Reported by Large Nonbanking Concerns by Type (in millions of dollars) End of calendar year or month t shortterm liquid claims Payable in dollars Demand Deposits Time Shortterm investments l/ Payable in foreign currencies Demand Deposits Time Shortterm investments l/ 96 4,436, / L /... ri,078 ^, J/...,638,38,306, , Oc t Nov.... Dec. 2/ lj 970Ja n. Feb.... Mar.... Apr.... May.... June.... July.... Aug.... Sept... Oct....,666 A, 75 [,38 \l,449r l,726r,77r,604r l,484r l,536r,586r l,49r l,36lr,500,632,322,357,068,i84r l,425r,446r l,353r,238r l,245r,279r l,224r l,064r,34, l,023r,242r l,254r,i68r,06lr l,045r,0 5r l,043r 900r ,93, 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 CMIV through CMIV3. / Negotiable and other readily transferable foreign obligations payable on demand or having a contractual maturity of not more than one year from the date on which the obligation was incurred by the foreigner. 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. 2/ Data are comparable in coverage to those shown for the preceding date; for data comparable to those shown for the following date, see second line opposite December 969. Data in the second line include amounts reported by firms reporting for the first time as a result of a canvass of nonbanking business concerns in the United States. r Revised. Table CMIV5. ShortTerm Liquid Claims Reported by Large Nonbanking Concerns by Country Calendar year 970 Country / / 2/ May June July August September October BelgiumLuxembourg J/ on Italy Netherlands United Kingdom r 33* 359r 309r 297r Bahamas and Bermuda Japan : All other countries 2/ k/ ,078,63,638,38 l,449r,536r,586r,49 lr l,36lr,500,632 Note: Data represent the liquid assets abroad of large nonbanking concerns in the United States. They are a portion of the total claims on foreigners reported by nonbanking concerns in the United States and are included in the figures shown in Tables CMIV through CMIV3. / Data in the two columns shown fpr 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/ A / Data in the second" column include amounts reported by firms reporting for the first time as a result of a canvass of nonbanking business concerns in the United States. Through December 967, Luxembourg included in "All other countries." Includes the liquid claims of $500 thousand or more held by reporting concerns in any country not listed above* Revised.

113 January 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 o f October 3, 970 shortterm liquid claims (Position in millions of dollars) Payable in dollars Deposits Shortterm investments l/ Payable in foreign currencies Deposits Short term investments / Belgium Luxembourg * France * 6 6 _ Germany * Italy Netherlands * * _ Switzerland United Kingdom * Canada Bahamas and Bermuda Japan * All other countries 2/ ,632, 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 nonbariking concerns in the United States and are included in the figures shovm in Tables CMIV through CMIV3. / Negotiable and other readily transferable foreign obligations payable on demand or having a contractual maturity of not more than one year from the date on which the obligation was incurred by the foreigner. 2/ Includes the liquid claims of $500 thousand or more held by reporting concerns in any country not listed above. * Less than $500,000.

114 0 Treasury Bulletin 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) Country Calendar year / 968 June September December l/ 2/ June p Europe: Austria... BelgiumLuxembourg 3/... Denmark... Finland... France Germany... Greece... Italy... Netherlands... Norway... Portugal... Spain... Sweden Switzerland... Turkey United Kingdom... Yugoslavia... Other Western Europe 3/... U.S.S.R... Other Eastern Europe b ^ * * * l Europe... Canada... Latin America: Argentina... Brazil... Chile... Colombia... Cuba... Mexico... Panama... Peru... Uruguay... Venezuela... Other Latin American Republics... Bahamas and Bermuda... Netherlands Antilles and Surinam. Other Latin America... Latin America... Asia: China Mainland... Hong Kong... India... Indonesia... Israel Japan... Korea... Philippines... Taiwan... Thailand... Other Asia... Asia... Africa: Congo (Kinshasa)... Morocco... South Africa... United Arab Republic (Egypt)... Other Africa... Africa... Other countries: Australia... All other... other countries... foreign countries... International and regional lb * b , , ,570 J o , o, "~ o , " W i l4i , %r _ ^ , i ,725 Grand total...,256,537,570,790,952,965 2,25 2,332 2,73 2,725 / Data in the two columns shown for this date differ because of changes 2/ in reporting coverage. Figures in the first column are comparable in coverage to those shown for the preceding date; figures in the second column are comparable to those shown for the following date. 3/ Datst in the second column include amounts reported by firms reporting for the first time as a result of a canvass of nonbanking business concerns in the United States. Through December 967, Luxembourg included in "Other Western Europe. Less than $500,000. p Preliminary.

115 January 97 CAPITAL M O VEM EN TS _ Section V Transactions in LongTerm Securities by Foreigners Reported by Banks and Brokers in the United States Table CMV. Foreign Purchases and Sales o f LongTerm Domestic Securities by Type Calendar year or month (In millions of dollars; negative figures indicate net sales by foreigners or a net outflow of capital from the United States) Marketable U.S. Government bonds and notes Net foreign purchases Foreign countries Official institutions Other foreigners International and regional Gross foreign purchases Gross foreign sales Net foreign Bonds / purchases of Net Gross corporate foreign foreign and other purchases purchases securities Corporate and other securities Gross foreign sales Net foreign purchases Stocks Gross Gross foreign foreign purchases sales ,224, ,397, , ,224,862 i ,730, ,977, ,744, l ,067 2, ,780 2, ,260 2, ,867, ,724 2, ,49, ,076 3, ,077, ,720 4, , ,0, ,740 5, , ,243, ,033 7, l6l ,234,964 4,446 2,48 2,270 3,8 0, ,68,95 3,047,853,487 2,429 0, Jan.Nov. p , ,262, ,835 7, Nov Dec * Jan... 2 _ 2 * Feb * Max... 8 * 8 * l6l i Apr May l6l 40 l4l June * July ' Aug... 3 * Sept * Oct. p * Nov. p * ,509 / Data include transactions in issues of states and municipalities, and not guaranteed by the United States, of corporations and other agencies of the U.S. Government which are p Preliminary. * Less than $500,000. 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) Calendar year or month Net foreign purchases of foreign securities Net foreign purchases Foreign bonds Gross foreign purchases Gross foreign sales Net foreign purchases Foreign stocks Gross foreign purchases Gross foreign sales ,363, , , i , , , ,093 2, ,044, , , ,242,98 2, ,778 2, ,320,63 2,024 3, , ,695,380 2,306 3,686 34,252, M 4 4,026,552 2,578 57,59 2, Jan.Nov. p ,326 2, Nov i4o Dec Jan... * Feb Mar Apr May June July A u g Sept Oct. p Nov. p p Preliminary. * Less than $500,000.

116 2 Treasury Bulletin CAPITAL MOVEMENTS Section V Transactions in LongTerm Securities by Foreigners Reported by Banks and Brokers in the United States Table CMV3. Net Foreign Transactions in Marketable U.S. Government Bonds and Notes by Country (In millions of dollars; negative figures indicate net sales by foreigners or a net outflow of capital from the United States) Country Calendar year through November p June July August September October p November p Europe: * * * * * _ BelgiumLuxembourg /... * * * * * Denmark... * 4 Finland... France... * * * _ * * * * * * _ * * * _ * * 8 3 * * * * * _ Netherlands... * * * * * * * * _ * 3 * * * * * * * * Spain... * * * * * * Sweden... * 8 _ Switzerland * 3 2 * * * * _ * 23 Yugoslavia... * 4 9 * * * * _ Other Eastern Europe... * * * * * * * Canada Latin America: * * * * _ Brazil... * * * Chile... _ * * * _ * _ * * * * * * * * * _ * * * _ * * * * _ * * _ * _ Uruguay... _ Venezuela... * * * * _ * _ * _ Other Latin American Republics... * * * _ * _ Bahamas and Bermuda... 2 * _ * * Netherlands Antilles and Surinam. * 6 3 * * * * _ Other Latin America... * * * * * * * * * Asia: * * * * _ India... * _ Indonesia... * * _ Israel... * * * Japan... * 52 * * * _ * * _ Taiwan... * * * * * * _ * _ * 2 * * * * * * Other Asia * Africa: * * * * * * _ * _ South Africa... _ United Arab Republic (Egypt) Other countries: * * * * * * * other countries... * * * * * * International and regional: International Latin American regional * * * * Asian regional... international and regional * 8 * * Grand total / Through 967, Luxembourg included in "Other Western Europe." p Preliminary. * Less than $500,000.

117 January 97 CAPITAL MOVEMENTS Section V Transactions in LongTerm Securities by Foreigners Reported by Banks and Brokers in the United States Table CMV4. Estimated Foreign Holdings of Marketable U.S. Government Bonds and Notes by Country (Position at end of period in millions of dollars) Calendar year Country / 969 June July August September October p November 3 Europe: Austria... BelgiumLuxembourg 2/... Denmark Finland... France... Germany... Greece... Italy Netherlands... Norway... Portugal... Spain Sweden... Switzerland... Turkey... United Kingdom... Yugoslavia Other Western Europe 2/... U.S.S.R... Other Eastern Europe... Europe... Canada... Latin America: Argentina... Brazil... Chile... Colombia... Cuba... Mexico... Panama... Peru... Uruguay... Venezuela... Other Latin American Republics... Bahamas and Bermuda... Netherlands Antilles and Surinam. Other Latin America... Latin America... «.. Asia: China Mainland... Hong Kong... India... Indonesia... Israel... Japan... Korea... Philippines... Taiwan... Thailand... Other Asia... Asia... Africa: Congo (Kinshasa)... Morocco... South Africa... United Arab Republic (Egypt)... Other Africa... Africa... Other countries: Australia... All other other countries... foreign countries... International and regional: International... Latin American regional... Asian regional... international and regional Grand total * * # # # * * * * * * * * * * * * * * * * * * # * * * * * * * * * * * * * * # * * * * * # * * * * * * * * * * # _. * * * * * * * k2h a * * * * # * # * * * * * * # _ * * # * * * * * * * * * * * * * * _ X * * * _ * * * * * * * * * * * * * 2 2 * * * * * * * * * * * * * * * * * * * * * * * * # * * * * * * * * * # * * * * * # # * * * * # * * * * * _ # * * * * * * * * * _ * * * * * * * * * _ * * * * * * _ * * * * * * * * * * # * * * # * * * * * _ 2 * _ * * * _ * * * * * * * * * # * * * * * # * * * * * _ , 22 k2 +2 b2 U * * * * * # * * # * * *. ;, _ * * * * * * * *,388,466, k6 46,73,670, ,02,024, Note: Data represent estimated official and private holdings of marketable U.S. Government securities with an original maturity of more than one year. Data shown as of end year 966 through end year 968 (first column) are based on July 3, 963 benchmark survey of holdings and the regular monthly reports of securities transactions (see Table CMV3). Data shown for end year 968 (second column) through latest date are based on a benchmark survey as of November 30, 968, and the monthly transactions reports. For statistical convenience, the new series is introduced as of December 3, 968, father than as of the survey date. The difference between the two series is believed to arise from errors in reporting during the period between the two benchmark surveys, from shifts in ownership not involving purchases or sales through U.S. banks and brokers, and from physical transfers of securities to and from abroad. It is not possible to reconcile the two series or to revise figures for earlier dates. / See Note above. 2/ Through November 967, Luxembourg included in "Other Western Europe.u p Preliminary. * Less than $500,000.

118 4 Treasury Bulletin CAPITAL M O V E M E N T S Section V Transactions in LongTerm Securities by Foreigners Reported by Banks and Brokers in the United States Table CMV5. Net Foreign Transactions in LongTerm Domestic Bonds, Other than U.S. Government Bonds and Notes, by Country (in millions of dollars; negative figures indicate net sales by foreigners or a net outflow of capital from the United States) Country Calendar year through November p June July August September October p November p Europe: * 3 4 * * * * * * * BelgiumLuxembourg / Dp.nmarlc,T*. t,t t T.,*r,,T,T T,,, * * * * * * * * * * * * France Germany * * 5 * * * l 2 * * * * * * * * * * * * * * * * * * * * Spain... 3 * * * * * Sweden * * * Turkey... * * * * * * * United Kingdom Yugoslavia... * * * * * * * ~ * * * * " * * 43, & l Latin America: Argentina... * * * * * * * * * * Brazil... 2 * * * * * * * Chile... * * * * * * * * Colombia... * * * * * * * * * Mexico... * 2 * * * * * Panama... 8 * * 4 * * * * * Peru... * * * * * * * * * * Uruguay... * * * * * * * * * * 2 * * * * * Other Latin American Republics... * * * * * * * Bahamas and Bermuda Netherlands Antilles and Surinam * * * * * * * * * Asia: * Hong Kong * * * * * India... * * * * * * * * * Indonesia... * * * * * * * Israel * * * * * Japan... * 2 * * * * * * * Philippines... * 3 4 * * * * * * * * * * * Thailand... * * * * * * * * * * * * 5 2 Asia * 6 3 Africa: Congo (Kinshasa)... * * * * * * * * * * * * * * * * * * * * 34 * * * * * * * * 34 * * * * * * * Other countries: Australia * * * * 2 * _ * 2 * foreign countries... 92, International European regional * * Asian regional _ international and regional Grand total... 2.,964,, _a _ Note: Data include transactions in issues of states and municipalities, / Through 967, Luxembourg included in "Other Western Europe." and of corporations and other agencies of the U.S. Government which are p Preliminary, not guaranteed by the United States. * Less than $500>000,

119 January 97 5 CAPITAL M OVEM EN TS Section V Transactions in LongTerm Securities by Foreigners Reported by Banks and Brokers in the United States Table CMV6. Net Foreign Transactions in Domestic Stocks by Country (In millions of dollars; negative figures indicate net sales by foreigners or a net outflow of capital from the United States) Country Calendar year through November p June July August September October p November p Europe: Austria * * * * * BelgiumLuxembourg l/ * * * * * * * Finland... * * * * * * * * * * France...' Greece... 2 * * * * * * Italy Norway * * * * * * * * * * * * * * 4 * * Switzerland Turkey... 2 * 2 * * * * * * United Kingdom Yugoslavia... * * * * Other Western Europe / * * * * U.S.S.R... * * * Other Eastern Europe... * * * * * * * * 342,592, Canada Latin America: 2 * * * * * * * * * * * * * * * Chile * * * * * * * * * * * * * * * * * * * * Panama * * Peru... * 2 * * * 4 * 4 * * * * * * Venezuela... 6 * * * Other Latin American Republics... * 5 * * * * * * * * Bahamas and Bermuda * Netherlands Antilles and Surinam * 9 4 * 6 * * * Asia: * * * * * Hong Kong * * * * * * * * * Indonesia... * * * * * * * * * Israel * 2 * * * * * * Japan * Korea... * * * * * * * * * * * * * * * 2 * * * * * * * * * Thailand... * 2 * * * * * * * Other Asia * 3 Asia * Africa: Congo (Kinshasa)... * * * * * * * * * * * * * * * * * * * * 6 * * * * * * * * * * _ * _ * _ Other Africa... * 3 * * * * * * 2 7 * * * * * Other countries: 2 * * * * * 4 3 * * * * * * * 3 3 * * * * * foreign countries ,257, International and regional: International * international and regional * Grand total ,270, / Through 967, Luxembourg included in "Other Western Europe." p Preliminary. * Less than $500,000.

120 6.CAPITAL MOVEMENTS 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 Treasury Bulletin (In millions of dollars; negative figures indicate net sales "by foreigners or a net outflow of capital from the United States) Country Calendar year through November p June July August September October p November p Europe: 3 2 * * * * * * * 2 * Denmark * * * * * * * * * * * * * * _ * * * * * * * * * * 3 6 * * * * * * 2 3 * * * * Switzerland * * * * * * United Kingdom * 2 Yugoslavia... * Other Western Europe / * * * * * * U.S.S.R... _ Other Eastern Europe... * * * * _ * Canada ^ Latin America: 6 9 * 3 * * * * * * * * * * * Chile * * 5 * * * * * _ * * * _ * * 2 2 * 3 * 24 * 25 * * * * 2 2 * * * * * * * * 2 * * * * * * * 6 * 5 4 * * * Other Latin American Republics * * * * * * * 2 * 3 Netherlands Antilles and Surinam * * * * * * * * * * * Asia: China Mainland * * * * * _ * * _ * Indonesia... * 2 * 2 * * * _ * * * * * * * 2 * * * * * * * * 2 6 _ * * * * * * * * * Africa: * 5 _ * * * _ 2 8 * * * _ * _ United Arab Republic (Egypt)... * * * * _ * _ * * * % * * Africa * * * * * * Other countries: Australia All other * foreign countries... 77,054, International and regional: International European regional * * * * * * Latin American regional international and regional Grand total...,63,380, r / Through 967, Luxembourg included in "Other Western Europe." p Preliminary. * Less than $500,000. r Revised.,

121 January 97 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 (In millions of dollars; negative figures indicate net sales by foreigners or a net outflow of capital from the United States) U7 Country Calendar year through November p June July August September October p November p Eutods: * * * * * * * * * BelgiumLuxembourg / * * * 4 * * * * * * * * * * * * _ * _ France * * Greece... * * * * * _ * * * * * * * 8 2 Norway... * * * * * * * * * * * * * * * * * * * * 6 9 * * * * * * * * 2 * * * * * * * * * * * * * United Kingdom * * * 3 2 Yugoslavia... * Other Western Europe./,... 2 * * * * * * * Other Eastern Europe... * * Europe * Canada " 0 9 Latin America: Argentina... * 4 # * * * * * Brazil... * 8 3 * * 3 * * Chile... * * * 2 * * 2 _ * * * * * * _ * * _ * _ * * * * * * Panama... * 7 * 3 * * * * * * Peru... * * * * * * * * * * * * * * * * * Venezuela * 6 * 2 * * * * * * Other Latin American Republics... * 2 * * * * * * Bahamas and Bermuda... 7 * 9 4 * * * * Netherlands Antilles and Surinam. 5 3 * * * 2 2 * Other Latin America... * * * * * * * * * * Asia: Hong Kong * * * * * India... * * * * * * * * * * * Israel... * 2 3 * * * * * * * * * * * * * * * * * Taiwan... * * * * * * Thailand... * * * * * * * * * * Other Asia... * 2 3 * * * * * * Asia... * Africa: * * * * * * * * * * * South Africa * * * United Arab Republic (Egypt)... * * * * * * * * * * * * * * * * * Other countries: * 3 * * * * All other... * * * * * * * * other countries * * * foreign countries International and regional: International... * international and regional. * Grand total ' / Through 967, Luxembourg included in "Other Western Europe." p Preliminary. * Less than $500,

122 8 Treasury Bulletin 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 November 970 Preliminary (In millions of dollars) Marketable U.S. Government bon dp purchases and notes Gross purchases by foreigners Domestic securities Foreign securities Domestic securities Foreign securities Corporate and Corporate and other Bonds Stocks other Bonds Stocks sales Marketable U.S. Government bonds Bonds Stocks and notes Bonds Stocks Eurone: Austria * * 2 * * * BelgiumLuxembourg Denmark... * * * * * Finland... * _ * _ * _ * France * _ * * Greece * * _ * * Italy * * 60 _ _ * * * 2 * * * * 2 _ * * * * _ * 2 * * 2 * * 2 * * * 4 2 * 3 Switzerland * Turkey... * * _ * * _ * * * * * _ U.S.S.R... _ Other Eastern Europe... * * * _ * Europe Canada * Latin America: Gross sales by foreigners * * * * * * * * * * * _ * * _ * Chile... _ * * * _ * _ * * * * Colombia * * * * Cuba... * _ * _ Mexico... 5 _ 4 * * 5 * * 4 * _ Panama... 3 * 2 * * _ 3 * _ 3 * Peru... _ * * * * * _ Uruguay... * * * * * _ * * * * Venezuela _ * 2 * 2 _ * * * _ Other Latin American Republics... * * * _ * * Bahamas and Bermuda * * Netherlands Antilles and Surinam * * Other Latin America... * * * * * * * Latin America * * Asia: China Mainland... * * * * Hong Kong _ * 8 * _ 3 * 2 * India * * _ * * * Indonesia... Israel... _ * * * 24 _ * * 24 * Japan... 3 * * * * * 7 Korea... Philippines... _ * x * _ * * * * Taiwan * * _ * _ * Thailand... * _ * * * _ * * * * * 2 * 2 * * Asia * * Africa: Congo (Kinshasa).... * * * * * Morocco... * * * * South Africa... * * United Arab Republic (Egypt)... Other Africa... * * * * * * * * Africa... * * * 2 * * Other countries: Australia... * * * * * * * * All other * * * * * other countries... 2 * * * * * * * * foreign countries m..7,., International and regional: International European regional... * * Latin American regional.... * * Asian regional... international and regional * 2 _ Grand total Less than $500,000.

123 January 97 Country CAPITAL M O V E M E N T S ^ Section V Transactions in LongTerm Securities by Foreigners Reported by Banks and Brokers in the United States Table CMV0. Foreign Purchases and Sales of LongTerm Securities, by Type and Country, During Calendar Year 969 (In millions of dollars) Gross purchases by foreigners Gross sales by foreigners Marketable U.S. Government bonds purchases and notes Domestic securities Foreign securities Corporate and other Bonds Stocks sales Domestic securities Marketable U.S. Government bonds Bonds Stocks and notes Bonds Stocks U9 Foreign securities Corporate and other Bonds Stocks Europe: Austria * BelgiumLuxembourg..., * Denmark * * Finland H # 3 * * France Germany * * Greece * it * Italy * Netherlands * Norway r * Portugal... 0 * # 7 2 * 2 9 Spain * * Sweden Switzerland... 5, , , , Turkey * # 5 * # 4 # 4 * * United Kingdom... 2, , , Yugoslavia... * * * # x Other Western Europe U.S.S.R... * _ * Other Eastern Europe... _ * * _ * * * Europe..., ,849 8, , ,034 7, Canada , &r, , ,838 ', Latin America: 36 * * # 5 * Chile... 4 * 0 3 * 9 * 8 # * Colombia... 9 * * 6 3 Cuba * # * # X Mexico * Panama * X Peru... 3 * 2 # # 3 * * Uruguay Venezuela * * 48 8 Other Latin American Republics... 7 * 4 22 # Bahamas and Bermuda..., , ,243 76, Netherlands Antilles and Surinam * Other Latin America... 6 * * 6 * * 8 * # Latin America... 2, , , , Asia: China Mainland... * * * # Hong Kong * India... * * 2 # Indonesia... * * * * * * # X * * Israel # 8 38 * 200 * Japan * Korea... * # * # * * Philippines Taiwan... * * # 3 * Thailand * 3 * 2 # 3 6 * Other Asia * Asia , Africa: Congo (Kinshasa)... * * * # * Morocco... * 2 * * * South Africa... 9 * 8 * 5 _ * 2 2 United Arab Republic (Egypt)... # * * * * * * * Other Africa * Africa * Other countries: Australia * * All other * 2 8 * * # other countries * * foreign countries... 8,3 ft? ?A 2.372,35,59 7,42$ 528,535 0,92 2,407.2,06. International and regional: International European regional... 6 _ 6 _ * _ * _ Latin American regional _ 8 _ _ Asian regional... * international and regional Grand total... 9, " 2,429,552,59 7, ,853 0,942 2,578 2,037 * Less than $500,000.

124 20 CAPITAL MOVEMENTS, Section VI Foreign Credit and Debit Balances in Brokerage Accounts Table CMVI. Foreign Credit Balances (Due to Foreigners) by Country (Position at end of period in millions of dollars) Treasury Bulletin Calendar year Country September December March September p Europe: Austria... BelgiumLuxembourg /... Denmark... Finland... France... Germany... Greece... Italy... Netherlands... Norway... Portugal... Spain... Sweden... Switzerland... Turkey... United Kingdom... Yugoslavia..... Other Western Europe i/. U.S.S.R... Other Eastern Europe... Europe. Canada... Latin America: Argentina... '... Brazil... Chile... Colombia... Cuba... Mexico... Panama... Peru Uruguay... Venezuela... Other Latin American Republics... Bahamas and Bermuda... Netherlands Antilles and Surinam. Other Latin America... Latin America. Asia: China Mainland... Hong Kong... India... Indonesia... Israel... Japan... Korea... Philippines... Taiwan... Thailand... Other Asia... Asia... Africa: C ongo (Kinshasa)... Morocco... South Africa... United Arab Republic (Egypt). Other Africa... Africa. Other countries: Australia... All other... other countries... foreign countries... International and regional. Grand total * * * 9 2* * l4 * * * * * * l4 * 8 2 * 3 53 * * * 4i * u r 2 4 * ? * l 96 * * 4 l Note: Data represent the money credit balances (due to foreigners), as / appearing on the books of reporting brokers and dealers in the p United States, in accounts of foreigners with them, and in their * accounts carried by foreigners. Through June 967, Luxembourg included in "Other Western Europe." Preliminary.. Less than $500,000.

125 January 97 2.CAPITAL MOVEMENTS. Section VI Foreign Credit and Debit Balances in Brokerage Accounts Table CMVI2. Foreign Debit Balances (Due from Foreigners) by Country (Position at end of period in millions of dollars) Calendar year Country September December March June September p Europe: Austria Bel giumluxembourg i/... Denmark Finland... France... Germany Greece... Italy... Netherlands... Norway... Portugal... Spain... Sweden... Switzerland... Turkey... United Kingdom... Yugoslavia Other Western Europe /... U.S.S.R... Other Eastern Europe... Europe... Canada... Latin America: Argentina... Brazil... Chile... Colombia... Cuba... Mexico... Panama Peru... Uruguay... Venezuela... Other Latin American Republics... Bahamas and Bermuda... Netherlands Antilles and Surinam. Other Latin America... Latin America Asia: China Mainland... Hong Kong... India... Indonesia... Israel... Japan... Korea... Philippines... Taiwan... Thailand... Other Asia... Asia... Africa: Congo (Kinshasa)... Morocco... South Africa... United Arab Republic (Egypt)... Other Africa Africa... Other countries: Australia... All other... other countries... foreign countries... International and regional... Grand total... * * * * * * * * * l * * * * * * * * * * * * * * lk * * k * * * * * * * * * * * * * 2 3 * 20 * 20 * 7k * 06 * 62 * 50 * 35 * 25 * 27 * hi * k 2 l * * * * * * * lk ll iki 67 'Zi * * * * * * * * * * * * * * * * * * * * * * * * * * 2 k k k 5 k k k * * * * * * * * 3 * * * * k k * * * * * * * * * 3 20 ho * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * ho k * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * l 2 * * * * * * * * * * * * * * * * * * Note: Data represent the money debit balances (due from foreigners), as appearing on the books of reporting brokers and dealers in the United States, in accounts of foreigners with them, and in their accounts carried by foreigners. l/ Through June 967, Luxembourg included in "Other Western Europe. p Preliminary. * Less than $500,000.

126 22 Treasury Bulletin FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS The financial statements of corporations and other businesstype activities of the United States Government, which have appeared in the ' Treasury Bulletin since the August 956 issue, are compiled from reports submitted to the Treasury under Department Circular No. 966, issued January 30, 956, and Supplement No., Revised, issued June l6; 965. These regulations were issued pursuant to the Budget and Accounting Procedures Act of 950. They superseded BudgetTreasury Regulation No. 3, issued under Executive Order No. 852 of August 3, 940, as amended by Executive Order No of March 3, 9 4 2, under which financial statements previously published in the Bulletin were submitted. Department Circular No. 966 requires submission of financial statements by all wholly owned and mixedownership Government corporations specifically included in the Government Corporation Control Act, as amended (3 U.S.C. 846, 856); and all other activities of the Government operating as revolving fluids. Other activities and agencies whose operations, services, or functions are largely selfliquidating or primarily of a revenueproducing nature, and activities and agencies whose operations result in the accumulation of substantial inventories, investments, and other recoverable assets, were brought under the regulations as the agency accounting systems were developed to where they were capable of furnishing the required financial reports. Four kinds of financial statements are called for by Department Circular No They are statements of financial condition, income and expense, source and application of funds, and certain financial contingencies. The statements of financial condition are published quarterly and appear as Section I, Table GAI. The first statements of financial condition published under Circular 966 were as of March 3, 956, and were presented in the August 956 Bulletin. Loans shown on the statements of financial condition are classified by type and account in Section III, Table GAIII2. Statements of income and expense and source and application of funds are published semiannually, for June 30 and December 3 reporting dates, and appear as Section I, Tables GAI2 and GAI3. The first of these statements under Circular 966 covered the fiscal year 956, and were published in the January 957 Bulletin. All funds shown in the statements are noted to indicate whether they are public enterprise revolving funds, intragovernmental revolving funds, trust or trust revolving funds, or general and special funds. Supplement No., when originally issued in 956, extended the coverage to include all executive agencies and activities not previously reporting under Circular 966, but required only a statement of financial condition annually as of June 30. These were activities which were not principally of a businesstype nature. Those which had not yet developed formal accounting procedures to provide complete balancesheet type statements were temporarily authorized to report only assets. Thus, the supplement rounded out provisions for information on properties and other assets, as well as liabilities, of the United States Government all of which is needed by Treasury for the compilation of complete Governmentwide financial reports,. The first comprehensive reporting under the original Supplement No. was for June 30, 957, and the data were published in the December 957 Bulletin as Part B of Table 4 in Section I. Statements submitted under this supplement are now published annually in Section II, Table GAII. The revision to Supple* ment No. in 965 made no basic change to the overall purpose of the originally issued supplement; it updated and consolidated all amendments to both the regulation and instructions.

127 January FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS, Section I Government Corporations and Other BusinessType Activities Table GAI. Statements of Financial Condition, September 30, 970 Account Legislative Branch (In thousands of dollars) Government Printing Office (IR) Appalachian housing fund (PE) Funds appropriated to the President Office of Economic Opportunity Economic opportunity loan fund (PE) Liquidation of foreign military sales fund (PE) Military assistance credits in liquidation (g&s ) Agency for International Development Acquisition of property revolving fund (IR) ASSETS Cash in banks, on hand, and in transit Fund balances with the U.S. Treasury /... 33,573 2,4 5,99 323,384 5,079 60,73 9,476,35 Investments: 0,095,08 Securities of Government enterprises... 55,002 Public debt securities (par value)... Securities of Governmentsponsored enterprises ,853 2/ Other securities... 3,672,724 Unamortized premium, or discount ()... 93,87 Advances to contractors and agents: Government agencies... 94,072 Other ,846 Accounts and notes receivable: Government agencies...,384,538 48, Other (net) , Inventories... 20,89,027 52,232 I84 Allowance for losses ()... 75,578 Accrued interest receivable: On public debt securities... 9,986 On securities of Government enterprises.,40,432 Other...,9,977 3,24 8,683 Loans receivable: Government agencies ,500 Other: U.S. dollar loans... 47,898,499,060 74,302 76,993,294 Foreign currency loans... 5,658,993 Allowance for losses () ,239 32,664 Acquired security or collateral: Real estate... 88,268 2 Other ,8 4 Allowance for losses () ,575 Land, structures, and equipment... 9,649,073 33,52 Accumulated depreciation ()... 5,435,2 23,539 Foreign currencies ,262 Other assets (net)... 7,425, assets... LIABILITIES 35,082,74 2/ 44,67 3,20 60, ,059,294 6,40 j±/ Accounts payable: Government agencies...,08, * 66 Other... 2,492,624 7, Accrued liabilities: Government agencies...,45, Other... 92,099 2,353 5,947 Advances from: Government agencies ,772 Other... 32,459 2,75 20,89 Trust and deposit liabilities: Government agencies , Other , Bonds, debentures, and notes payable: Government agencies... 69,698 Participation certificates... 8,768,876 Principal payments for redemption of participation certificates ()... 20,602 5/ Other...,454,266 _ Other liabilities (including reserves)... 7,73,532 3,868 * liabilities... 24,76,78 28,55 * ,8 y 858 NET INVESTMENT United States interest: Interestbearing investment: Capital stock ,000 Borrowings from the U.S. Treasury... 25,698,098 Other ,66,946 0,850 Noninterestbearing investment: Capital stock...,050,000 Appropriations... 58,847,76 48,000 3,250 78,400,294 5,000 Capitalization of assets (net)... 6,07,340 33,85 97,066 _ Other... 35,493, _ Accumulated net income, or deficit ().. 7,868,958 34, ,925 5,783 _ 543 Deposits of general and special fund revenues ()... 5,738,69 United States interest... 05,89,678 6,066 3,20 59,925 38,249,294 5,543 Trust and private interest: Principal of fund... 9,692 Accumulated net income, or deficit ().. 4,49,085 trust and private interest... 4,500,777 liabilities and investment... 35,082,74 44,67 3,20 60, ,059,294 6,40 Footnotes at end of Section. (Continued on following page)

128 24 T r e a s u r y B u lle tin FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I Government Corporations and Other BusinessType Activities Table GAI. Statements of Financial Condition, September 30, 970 (Continued) (In thousands of dollars) Funds appropriated to the President (Continued) Agency for International Development (Continued) Account Alliance for Progress, development loans (PE) Common defense, economic, and triangular trade loans (G&S) Development loans (PE) Development loan fund liquidation account (PE) Foreign currency loans Private enterprises (G&S) 7/ Foreign investment guaranty fund (PE) Loans of predecessor agencies in liquidation (G&S) ASSETS Cash in banks, on hand, and in transit Fund balances with the U.S. Treasury /...,086,232,974,86,642 20,542 _ 2,58,592 Investments: Public debt securities (par value)... _ Securities of Government enterprises... _ Securities of Governmentsponsored enterprises Other securities... _ Unamortized premium, or discount ()... _ Advances to contractors and agents: Government agencies _ Other... 4, _ Accounts and notes receivable: Government agencies ,978 _ Other (net)... _ Inventories... _ Allowance for losses ()... Accrued interest receivable: On public debt securities... On securities of Government enterprises. _ Other... 6,608 34,005 6,859 6,573 6,477 _ Loans receivable: 20,028 Government agencies... Other: U.S. dollar loans... 2,26,737 6,234 4,853,72 227,82 996,35 Foreign currency loans... 3,856, ,745 53,572 _ 68,854 Allowance for losses () Acquired security or collateral: Real estate... _ Other... _ 4,840 Allowance for losses ()... _ 650 Land, structures, and equipment... Accumulated depreciation ()... _ Foreign currencies... 88,886 66,056 _ 3,30 Other assets (net) ,720 assets... LIABILITIES 3,35,962 4,043,068 6,064,368,48,70 326,5 6,530,78,856 Accounts payable:.government agencies ,854 2,58 Other , Accrued liabilities: Government agencies... 8,738 Other... 2,40 62 _ Advances from: Government agencies... _ Other... _ 63 _ Trust and deposit liabilities: Government agencies... _ Other... Bonds, debentures, and notes payable: Government agencies... Participation certificates... Principal payments for redemption of participation certificates ()... Other... Other liabilities (including reserves) ,774 68,720 8/ liabilities... 2,40 _, _ 0,999 6/ 80,633 NET INVESTMENT United States interest: Interestbearing investment: Capital stock... Borrowings from the U.S. Treasury... 52,267 Other... Noninterestbearing investment: Capital stock... Appropriations... 3,09,925 5,70,528 5,84,753 2,000, ,829 57,86,533,805 Capitalization of assets (net) Other... 57, ,699 29, ,827,08 _ Accumulated net income, or deficit ().. 64,37 690,325 9, ,36 55,6 47,908 52,965 Deposits of general and special fund revenues () ,436 2/,33,76 2/ 96,580 2/ 866,83 2/ United States interest... 3,33,560 4,043,068 6,062,60,43,34 326,5 05,53,70,224 Trust and private interest: Principal of fund... Accumulated net income, or deficit ().. trust and private interest... liabilities and investment... 3,35,962 4,043,068 6,064,368,48,70 326,5 6,530,78,856 Footnotes at end of Section. (Continued on following page)

129 January 97 2$ * FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I Government Corporations and Other BusinessType Activities Table GAI. Statements o f Financial Condition, September 30, 970 (Continued) Account (in thousands of dollars) Funds appropriated to the President (Continued) Agency for International InterAmerican Overseas Development (Continued) Other loans (G&S) 0/ Social Development Institute (PE) Private Investment Corporation (PE) / Agricultural Research Service Working capital fund (IR) Agriculture Department Commodity Credit Corporation (PE) Consumer and Marketing Service Milk market orders assessment fund (TR) 2/ Expansion of defense production (PE) ASSETS Cash in banks, on hand, and in transit... 2,236 Fund balances with the U.S. Treasury l/... 36,307 0,000 57, ,740 7,077 _ Investments: Public debt securities (par value)... 37,850 3,730 _ Securities of Government enterprises... 70,954 _ Securities of Governmentsponsored enterprises....*... _ 73 _ Other s ecuriti es... Unamortized premium, or discount ()..., _ Advances to contractors and agents: Government agencies... _ Other... _ Accounts and notes receivable: Government agencies ,78 Other (net) , _ Inventories.... _ 28,894,97 Allowance for losses ()... _ 24,47 Accrued interest receivable: On public debt securities On securities of Government enterprises. Other... 5,339 56,29 _ Loans receivable: Government agencies... _ Other: U.S. dollar loans ,955 _ 4,640, _ Foreign currency loans... 60,026 Allowance for losses ()... 9,068 _ Acquired security or collateral: Real estate... _ Other... _ Allowance for losses ()... Land, structures, and equipment ,872 Accumulated depreciation ()... _ ,820 Foreign currencies... _ Other assets (net) _ assets ,293 0,000 94,03,347 7,206,073,762 LIABILITIES Accounts payable:.government agencies... 2, ,865 Other... 4,628 _ 73 9, Accrued liabilities: Government agencies ,843 8,993 Other , Advances from: Government agencies... _ Other... _ Trust and deposit liabilities: Government agencies... 56,003 _ Other... 3,83 Bonds, debentures, and notes payable: Government agencies... Participation certificates... Principal payments for redemption of participation certificates ()... _ Other... Other liabilities (including reserves) ,996,70,256 liabilities... 7, ,05,37,527 8,993 NET INVESTMENT United States interest: Interestbearing investment: Capital stock... 00,000 Borrowings from the U.S. Treasury... 7,432,095 _ 94,062 Other... _ Noninterestbearing investment: Capital stock... Appropriations ,488 0,000 37, _ Capitalization of assets (net)... _ 368 Other.... 7,604 55,409 2/ _ 4,463,33 U / Accumulated net income, or deficit ().. 60,998 _, ,840,670 _ 03,055 Deposits of general and special fund revenues () / United States interest ,650 0,000 94, ,54,756 8,993 Trust and private interest: Principal of fund... Accumulated net income, or deficit ().. 0,235 trust and private interest... 0,235 liabilities and investment ,293 0, ,03,347 7,206,073,762 Footnotes at end of Section. (Continued on following page)

130 26 Treasury Bulletin FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I Government Corporations and Other BusinessType Activities Table GAI. Statements o f Financial Condition, September 30, 970 (Continued) (In thousands of dollars) Agriculture Department (Continued) Farmers Home Administration Account Agricultural credit insurance fund (PE) Direct loan account (PE) Emergency credit revolving fund (PE) Loans, salaries, and expenses (G&S) Rural hous ing insurance fund (FE) Self help housing and development fund (PE) State rural rehab il it at ion funds (TR) 2/ ASSETS Cash in banks, on hand, and in transit... _ Fund balances with the U.S. Treasury l/... 3, ,96 4,485 87,93 298,66,486,258 Investments: Public debt securities (par value)... Securities of Government enterprises Securities of Governmentsponsored enterprises... Other securities... Unamortized premium, or discount ()... Advances to contractors and agents: 3 5/ 5/ Government agencies... Other... 9, Accounts and notes receivable: Government agencies... 33, ,720 Other (net)..., * Inventories... _ 99 _ Allowance for losses ()... _ Accrued interest receivable: On public debt securities... _ On securities of Government enterprises. _ Other... Loans receivable: 33,097 67,366 3, ,5 46 Government agencies... _ Other: U.S. dollar loans... 66,90,384,53 6/,889, ,799 6/ Foreign currency loans... 4,85 Allowance for losses ()... 7,488 64,5 24,03 5 5,424 _ Acquired security or collateral: 398 Real estate..., ,405 Other... 9 * Allowance for losses ()... Land, structures, and equipment... _ 6 _ 4,323 8 Accumulated depreciation ()...,6 Foreign currencies... _ Other assets (net)..., assets... 99,642,82,303 33,044 92,524,067,233,60 4,062 LIABILITIES Accounts payable:.government agencies... _,32 _ 45 2,654 Other Accrued liabilities: Government agencies...,939 2,542 _,04 3,46 _ * Other... 33,985 0,0 _ 3,0 32,787 Advances from: Government agencies... _ Other... _ Trust and deposit liabilities: Government agencies... _ Other... 09,58 _ Bonds, debentures, and notes payable: Government agencies... _ Participation certificates... _ 584,8 8,42 Principal payments for redemption of participation certificates ()... _ 93,602 4,83 Other... Other liabilities (including reserves)...,530 8,50 5,703 _ 0 liabilities... 47,8 6/ 54,542 22,56 32,93 y NET INVESTMENT United States interest: Interestbearing investment: Capital stock... Borrowings from the U.S. Treasury... 46, , ,78 Other _ Noninterestbearing investment: Capital stock... _ Appropriations...,000 7,00 22,98,25,508 02,500,600 _ Capitalization of assets (net) ,708 45,858 30,45 35,505 Other... _ Accumulated net income, or deficit ().. 96,54 98,994 34,732 78,5 48,403 _ Deposits of general and special fund revenues () _ 269,943 _ United States interest... 5,83,297,762 33,044 69, ,39,60 Trust and private interest: Principal of fund... 8,803 Accumulated net income, or deficit () trust and private interest... 4,052 liabilities and investment... 99,642,82,303 33,044 92^524,067,233,60 4,062 Footnotes at end of Section. (Continued on following page)

131 January FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I Government Corporations and Other BusinessType Activities Table GAI. Statements of Financial Condition, September 30, 970 (Continued) Account Federal Crop Insurance Corporation (PE) 7/ (In thousands of dollars) Agriculture Department (Continued) Forest Service Working capital fund (IR) Rural Electrification Administration (G&S) Commerce Department Economic Development Working Administration Maxitime capital fund (IR) Economic development revolving fund (PE) Admini stration (G&S) Maxitime Admini stration Federal ship mortgage insurance revolving fund (PE) ASSETS Cash in banks, on hand, and in transit... _ 354 Fund balances with the U.S. Treasury l/... 22,765 8,999 38, , , Investments: Public debt securities (par value)... 6,250 Securities of Government enterprises... Securities of Governmentsponsored enterprises... Other securities... Unamortized premium, or discount ()... Advances to contractors and agents: Accounts and notes receivable: Government agencies... Other... _ 0 9 Government agencies... 3,27 9, Other (net)... 33, , Inventories... _ 7,259 _ Allowance for losses ()... Accrued interest receivable: On public debt securities... _ On securities of Government enterprises. _ Other... 4,223 io,44i Loans receivable: Government agencies... Other: U.S. dollar loans... 5,442,038 35,553 50,204 2,70 Foreign currency loans... Allowance for losses ()... 9,340 6,260 9,72 Acquired security or collateral: Real estate... _ 469 Other... _ 38 _ Allowance for losses ()... Land, structures, and equipment , ,68 _ 2,596,68/ Accumulated depreciation () , ,78 2,47,5409/ Foreign currencies... Other assets (net)... l4 8, ,932 9 assets... LIABILITIES. 56i.82.2_ 52,748 5,767,967 3, ,952,526,509 29,095 Accounts payable:.government agencies... 2, Other... 4, Accrued liabilities: Government agencies , Other... 24, ,480 73,92 Advances from: Government agencies Other... * 54 Trust and deposit liabilities: Government agencies... * 5 Other...,946 Bonds, debentures, and notes payable: Government agencies... Participation certificates... Principal payments for redemption of participation certificates ()... Other... _ Other liabilities (including reserves)..., ,*79 5** ,940 2,675 liabilities... NET INVESTMENT 26,08 6,592 28,903,889, ,436 2,678 _6/ United States interest: Interestbearing investment: Capital stock... Borrowings from the U.S. Treasury... 5,528,* Other... Noninterestbearing investment: Capital stock... 50,000 Appropriations... 60, ,86 4oo 5,528,593 Capitalization of assets (net) , ,848 2,697,995 Other i4,4oo Accumulated net income, or deficit ().. 78,94 0,934 89, ,70,790 26,46 Deposits of general and special fund revenues ()...,564,228,324 United States interest... 30,72 46,55 5,739,063, ,400,282,073 26,46 Trust and private interest: Principal of fund... Accumulated net income, or deficit ().. " trust and private interest... liabilities and investment... 56,829 52,748. 5,767,967 3, ,952,526,509 29,095 Footnotes at end of Section. (Continued on following page)

132 28 Treasury Bulletin _ FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I Government Corporations and Other BusinessType Activities Table GAI. Statements of Financial Condition, September 30, 970 (Continued) Account Maritime Administration (Continued) Vessel operations revolving fund (PE) (in thousands of dollars) Commerce Department (Continued) Warrisk insurance revolving fund (PE) Working capital fund (IR) Defense Department National Military Bureau of Standards Working Air Force ^Department capital fund (IR) Defense production guarantees (PE) Industrial fund (IR) 20/ Stock fund (IR) ASSETS Cash in hanks, on hand, and in transit _ Fund balances with the U.S. Treasury /.. 3, ,062 3,584 5,737 25,945 Investments: Public debt securities (par value)... _ 4,686 Securities of Government enterprises... Securities of Governmentsponsored enterprises... _ Other securities... _ Unamortized premium, or discount ()... _ 63 Advances to contractors and agents: Government agencies _ Other ,29 Accounts and notes receivable: Government agencies _ 2,539,48 _ 37,896 03,587 Other (net) ,265 * 864 9,06 8,47 Inventories... 8,69 25 _ 75,885 2,448,06 Allowance for losses ()... Accrued interest receivable: On public debt securities... _ 3 _ On securities of Government enterprises. Other... Loans receivable: Government agencies... Other: U.S. dollar loans... _ Foreign currency loans... _ Allowance for losses ()...,056 Acquired security or collateral: Real estate... Other... _ Allowance for losses ()... _ Land, structures, and equipment... 60,502 _,624 4,072 Accumulated depreciation ()... 2, _ 5,63 Foreign currencies... Other assets (net) , _ assets... 9,99 4,79 7,84 2,693 2, ,243 2,630,23 LIABILITIES Accounts payable:.government agencies ,696 2,206 Other...,42 *, _ 60,652 92,833 Accrued liabilities: Government agencies _ Other ,397 0,878 _ Advances from: Government agencies... _ 2,80 Other... 6 * Trust and deposit liabilities: Government agencies...,843 Other... _ Bonds, debentures, and notes payable: Government agencies... Participation certificates... _ Principal payments for redemption of participation certificates ()... _ Other... _ Other liabilities (including reserves)...,343 3, _ 28,26 4,435 liabilities... 3,054 * 22,598, ,442 99,605 NET INVESTMENT United States interest: Interestbearing investment: Capital stock... '... _ Borrowings from the U.S. Treasury... Other... _ Noninterestbearing investment: Capital stock... _ Appropriations... 3, _ 7,000 _ Capitalization of assets (net)... 35, _ 03,703 _ Other... 2,077 2,430,59 2/ Accumulated net income, or deficit ().. 9,03 4, ,640 4,098 Deposits of general and special fund revenues ()... United States interest... 6,937 4,79 48, ,640 78,80 2,430,59 Trust and private interest: Principal of fund... Accumulated net income, or deficit ().. _ trust and private interest... liabilities and investment... 9,99 4,79 7,84 2,693 2, ,243 2,630,23 Footnotes at end of Section. (Continued on following page)

133 January FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I Government Corporations and Other BusinessType Activities Table GAI. Statements of Financial Condition, September 30, 970 (Continued) (In thousands of dollars) Defense Department (Continued) Account Air Force Department (Continued) Surcharge collections, sales of commissary stores (TR) 22/ Air Force Cadet fund (TR) 22/ Military (Continued) Defense production guarantees (PE) Army Department Industrial fund (IR) 20/ Stock fund (IR) Surcharge collections, sales of commissary stores (TR) Navy Department Defense production guarantees (PE) ASSETS Cash in hanks, on hand, and in transit... _ Fund balances with the U.S. Treasury l/... 6,5,3 5,90 0,57 20,92 2,434 9,668 Investments: Public debt securities (par value)... Securities of Government enterprises... ~ Securities of Governmentsponsored enterprises... Other securities... Unamortized premium, or discount ()... _ Advances to contractors and agents: Government agencies... Other... 72,723 Accounts and notes receivable: Government agencies... 46,279 35,036 Other (net) ,675 66,053 Inventories... 48,54 2,96,856 Allowance for losses ()... 44,200 23/ Accrued interest receivable: On public debt securities... On securities of Government enterprises. Other... Loans receivable: Government agencies... Other: U.S. dollar loans ,96 Foreign currency loans... Allowance for losses ()... Acquired security or collateral: Real estate... Other... Allowance for losses ()... Land, structures, and equipment... Accumulated depreciation ()... Foreign currencies... Other assets (net)... 65,744 63,73 assets... LIABILITIES 6,307 2,75 5, ,80 3,465,554 2,434 2,584 Accounts payable:.government agencies ,20 _ 4,263 55,755 Other _ 2,220 30,39 Accrued liabilities: Government agencies... Other... 43,386 Advances from: Government agencies... _ 9 _ Other.... _ 45 Trust and deposit liabilities: Government agencies... _ Other... _ Bonds, debentures, and notes payable: Government agencies... Participation certificates... _ Principal payments for redemption of participation certificates ()... Other... _ Other liabilities (including reserves) ,04 2,94 liabilities ,3 46,027 73,32 NET INVESTMENT United States interest: Interestbearing investment: Capital stock... _ Borrowings from the U.S. Treasury... _ Other... Noninterestbearing investment: Capital stock Appropriations... _ 56,80 Capitalization of assets (net)... _ 3,647 _ Other... _ 3,292,42 2/ Accumulated net income, or deficit ().. 5,653 9,250 2,584 Deposits of general and special fund revenues ()... _ United States interest... 5,653 6,783 3,292,42 2,584 Trust and private interest: Principal of fund... _ 602 Accumulated net income, or deficit ().. 5, _ 20r832 trust and private interest... 5, ,434 liabilities and investment... 6,307 2,75 5, ,80 3,465,554 2, Footnotes at end of Section. (Continued on following page)

134 30 Treasury Bulletin _ FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I Government Corporations and Other BusinessType Activities Table GAI. Statements of Financial Condition, September 30, 970 (Continued) Account Industrial fund (IR) 20/ service, Naval Acadencr (PE) (In thousands of dollars) Defense Department (Continued) Military (Continued) Navy Department (Continued) Industrial fund (IR) 20/ Marine Corps Stock fund (IR) U.S. Naval Academy Midshipmen's commissary (TR) Midshipmen's stores (TR) Stock fund (IR) ASSETS Cash in hanks, on hand, and in transit... _ Fund balances with the U.S. Treasury l/ , ,544 36, ,270 Investments: Public debt securities (par value)... Securities of Government enterprises... Securities of Governmentsponsored enterprises Other securities... _ Unamortized premium, or discount ()... Advances to contractors and agents: Government agencies... _ Other... _ 2,086 7,788 Accounts and notes receivable: Government agencies... 29,700 23,406 5,802 4,60 Other (net) , * ,875 Inventories ,897 2, , ,934,556 Allowance for losses ()... 6,642 22/ Accrued interest receivable: On public debt securities... On securities of Government enterprises. Other... Loans receivable: Government agencies... Other: U.S. dollar loans... Foreign currency loans... Allowance for losses ()... Acquired security or collateral: Real estate... Other Allowance for losses ()... Land, structures, and equipment...,087 Accumulated depreciation () Foreign currencies... Other assets (net)... 5, , ,886 assets... LIABILITIES 724,49 239,565 38, ,50 2,37,344 Accounts payable:.government agencies... 4,450 * 2,355 8,449 99,88 Other... 58,46 * 26 5, ,696 Accrued liabilities: Government agencies , Advances from: Government agencies... 88,500 Other... 3,42 Other Trust and deposit liabilities: Government agencies... Other... Bonds, debentures, and notes payable: Government agencies... Participation certificates... Principal payments for redemption of participation certificates ()... Other... _ Other liabilities (including reserves)... 66, ,947 5, ,85 liabilities... NET INVESTMENT ,300 30, ,392 United States interest: Interestbearing investment: Capital stock... Borrowings from the U.S. Treasury... _ Other... Noninterestbearing investment: Capital stock... Appropriations... 85,769 4,600 Capitalization of assets (net)... 50,779 _ 95 Other... _ 288,84 2/,909,95 2/ Accumulated net income, or deficit ().. 0, Deposits of general and special fund revenues ()... United States interest , ,84,909,95 Trust and private interest: Principal of fund... Accumulated net income, or deficit ().. 389,787 trust and private interest ,787 liabilities and investment ,49 239,565 38, ,50 2,37,344 Footnotes at end of Section. (Continued on following page)

135 January 97 _ FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS isi Section I Government Corporations and Other BusinessType Activities Table GAI. Statements of Financial Condition, September 30, 970 (Continued) (In thousands of dollars) Defense Department (Continued) Account ASSETS Military (Continued) Civil Family Defense agencies Ariry Department housing Panama Canal Defense Defense Defense industrial production stock Corps of Homeowners fund (IR) guarantees fund Engineers (IR) Canal Zone Panama assistance 20/ 24/ (PE) Government Canal (IR) 25/ fund (PE) (G&S) Company (PE) Cash in "banks, on hand, and in transit... _ 257 2,735 Fund balances with the U.S. Treasury l/... 9,263 40, , ,948 42,765 32,699 Investments: Public debt securities (par value)...,000 Securities of Government enterprises... _ Securities of Governmentsponsored enterprises _ Other securities... _ Unamortized premium, or discount ()... Advances to contractors and agents: Government agencies... _ Other... 4,593 _ Accounts and notes receivable: Government agencies... 5,728 28,972 33,856 2,62,088 Other (net) ,905 2,347 Inventories...,845 2,835,234 9, ,849 Allowance for losses ()... _ Accrued interest receivable: 0 On securities of Government enterprises. _ Other... _ On public debt securities... Loans receivable: Government agencies... _ Other: U.S. dollar loans... _ Foreign currency loans... _ Allowance for losses ()... _ Acquired security or collateral: Real estate... _ Other... _ Allowance for losses ()... Land, structures, and equipment ,473 87,3 803,308 Accumulated depreciation ()... 69,248 3, ,836 Foreign currencies... Other assets (net)... 7,073 23,54 56,5 4,800 3,708 7,836 LIABILITIES 6,336 7, ,57,93 253,824 8, ,026 Accounts payable:.government agencies ,44 8,83 3,622, Other ,769 83,676 7,28 _ 2,794 Accrued liabilities: Government agencies ,957 Other ,78 7,79 Advances from: Government agencies... 4,98 _ Other...,22 _ 60 Trust and deposit liabilities: Government agencies Other......,027 Government agencies... Bonds, debentures, and notes payable: _ Participation certificates... Principal payments for redemption of participation certificates ()... Other... 3,289 _ Other liabilities (including reserves)...,664 4,285 56,479 6,804 30,462 liabilities... 3,374 4,773 96,43 83,459 23,480 55,36 NET INVESTMENT United States interest: Interestbearing investment: Capital stock... Borrowings from the U.S. Treasury... Other... 37,98 Noninterestbearing investment: Capital stock... _ Appropriations... 26,23 3,57 23,84 38,72 Capitalization of assets (net)... _,30 93,585 57,36 8,052 Other... 2,964 2,96,788 2/ Accumulated net income, or deficit ().. 3,269 _ 2 52,966 9,46 Deposits of general and special fund revenues () United States interest... 2,962 29,97 2 2,96,788 70,365 95, ,666 Trust and private interest: Principal of fund... Accumulated net income, or deficit ().. trust and private interest... liabilities and investment... 6,336 7, ,57,93 253,824 8, ,026 Footnotes at end of Section. (Continued on following page)

136 32 Treasury Bulletin _ FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I Government Corporations and Other BusinessType Activities Table GAI. Statements of Financial Condition, September 30, 970 (Continued) Account Defense Dept. VOontinuedJ Civil (Cont.) Army Dept. (Continued) Soldiers Home revolving fund (TR) (in thousands of dollars) Heath, Education, and Welfare Department CPEHS 26/ Office of Education Health : Adminis' tration Revolving fund for certification and other services (PE) Higher education facilities loans fund (PE) Student insurance fund (PE) Narcotic hospitals Operation of Service commissaries, and Working narcotic supply capital hospitals (PE) fund (IR) fund (IR) ASSETS Cash in banks, on hand, and in transit... _ * _ Fund balances with the U.S. Treasury / ,44 28,355 28,00 Investments: Public debt securities (par value)... _ 900 _ Securities of Government enterprises... Securities of Governmentsponsored enterprises... _ Other securities... Unamortized premium, or discount ()... _ Advances to contractors and agents: Government agencies...,30 5/ _ Other Accounts and notes receivable: Government agencies... * Other (net) , _ Inventories Allowance for losses ()... _ Accrued interest receivable: On public debt securities _ On securities of Government enterprises. _ Other , Loans receivable: Government agencies... Other: U.S. dollar loans ,549 6/ 5,45 Foreign currency loans... _ Allowance for losses ()... 2,998 _ Acquired security or collateral: Real estate... Other... _ Allowance for losses ()... _ Land, structures, and equipment...,24 _ Accumulated depreciation () Foreign currencies... Other assets (net) assets... LIABILITIES 34 3, ,298 32, ,390 Accounts payable: Government agencies Other * _ Accrued liabilities: Government agencies ,97 Other... Advances from: Government agencies... _ 86 Other _ Trust and deposit liabilities: Government agencies... _ Other... _ Bonds, debentures, and notes payable: Government agencies... Participation certificates... 92,868 Principal payments for redemption of participation certificates ()... 3,22 Other... _ Other liabilities (including reserves) , liabilities ,853 2,777 6/ NET INVESTMENT United States interest: Interestbearing investment: Capital stock... Borrowings from the U.S. Treasury... ' Other ,658 Noninterestbearing investment: Capital stock... 30, Capitalization of assets (net) Other... _ Appropriations... Accumulated net income, or deficit ().. _ Deposits of general and special fund 2,306, revenues ()... United States interest... 2,306 46,445 29, ,423 Trust and private interest: Principal of fund Accumulated net income, or deficit ().. trust and private interest liabilities and investment , , Footnotes at end of Section. (Continued on following page)

137 January 97 *33 FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I Government Corporations and Other BusinessType Activities Table GAI. Statements of Financial Condition, September 30, 970 (Continued) (In thousands of dollars) Health, Education, and Welfare Department (Continued) National Institutes of Health Departmental management Housing and Urban Development Department Renewal and housing assistance Account Health Nurse Service College Lowrent Rehabilitation professions training and housing public loan education fund supply Working loans hous ing fund fund (PE) (PE) fund (IR) capital (PE) (PE) (PE) fund (IR) 27/ ASSETS Cash in banks, on hand, and in transit Fund balances with the U.S. Treasury l/ ,009 3,663 30, ,768 2,076 Investments: Public debt securities (par value)... Securities of Government enterprises... Securities of Governmentsponsored enterprises... Other securities... Unamortized premium, or discount ()... Advances to contractors and agents: Government agencies... 9,520 5/ Other... 2,637 Accounts and notes receivable: Government agencies * 7,854 2,790 Other (net)... * 0 2,309 Inventories... _,652 4 Allowance for losses ()... Accrued interest receivable: On public debt securities.... _ On securities of Government enterprises. Other... 3,532,78 36,83 4, Loans receivable: Government agencies... 6/ 6/ Other: U.S. dollar loans... Foreign currency loans... 30,9 5,443 3,95,30 6/ 82,526 9,096 Allowance for losses ()... Acquired security or collateral: 3,994,229 9,0 2,357 7 Real estate... Other... _ Allowance for losses ()...,293 7 Land, structures, and equipment Accumulated depreciation () Foreign currencies... Other assets (net) assets... 33,690 9,237 5,855 3,282, ,93 03,465 Accounts payable: LIABILITIES Government agencies Other... 2, ,958 _ Accrued liabilities: Government agencies , _ Other ,857 Advances from: Government agencies... _ Other.... _ Trust and deposit liabilities: Government agencies... Other... _ Bonds, debentures, and notes payable: 7,72, Government agencies _,480 3,368 _,858,88 _ Principal payments for redemption of Participation certificates... participation certificates () ,235 Other... _ Other liabilities (including reserves) liabilities...,943 3,447 3,877,872,240 72,887 6/ 479 NET INVESTMENT United States interest: Interestbearing investment: Capital stock Borrowings from the U.S. Treasury... _,400,000 00,000 _ Other... Noninterestbearing investment: Capital stock... _ Appropriations... 20,897 4, ,900 3,672,803 2,522 Capitalization of assets (net)...,238 _ 246,274 _ Other... Accumulated net income, or deficit ().. Deposits of general and special fund ,9 3,724,05 9,535 revenues ()... United States interest... 2,747 5,790,978,40,09 295,026 02,986 Trust and private interest: Principal of fund... Accumulated net income, or deficit ().. trust and private interest.... liabilities and investment... 33,690 9,237 5,855 3,282, ,93 03,465 Footnotes at end of Section. (Continued on following page)

138 34 Treasury Bulletin _ FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I Government Corporations and Other BusinessType Activities Table GAI. Statements of Financial Condition, September 30, 970 (Continued) (In thousands of dollars) Account ASSETS Housing and Urban Development Department (Continued) Renewal and Metropolitan development Mortgage credit housing Federal Housing Administration assistance Public Public works Revolving (Continued) facility planning fund, Community Urban renewal programs (PE) New communities guarantee fund (PE) loans advances liquidating disposal (PE) fund (PE) programs (PE) operations fund (PE) Cash in banks, on hand, and in transit... 8 _ Homeownership and rental housing assistance (G&S) 24 Fund balances with the U.S. Treasury l/... 2,30, ,737 7,06 587,558 6,946 Investments: Public debt securities (par value)... _ 78 _ Securities of Government enterprises _ Securities of Governmentsponsored enterprises... _ Other securities... Unamortized premium, or discount ()... _ Advances to contractors and agents: Government agencies... _ 4,06 5/ Other... _ Accounts and notes receivable: Government agencies Other (net) _ 48 _ Inventories Allowance for losses ()... _ Accrued interest receivable: On public debt securities... _ On securities of Government enterprises. _ 4 Other... 6,758 _ 4,872 _ 64 _ Loans receivable: Government agencies.... Other: U.S. dollar loans , ,244 6/ 72,698 0,59 0,529 Foreign currency loans... Allowance for losses ()... 2,57 40, _ 75 Acquired security or collateral: Real estate.... Other... _ Allowance for losses ()... Land, structures, and equipment... _ 2,444 Accumulated depreciation ()... 2,444 Foreign currencies... Other assets (net)... 9, assets... 2,698, ,688 49,688 0,239 2,503 6,947 LIABILITIES Accounts payable: Government agencies _ Other... 2 * ,880 Accrued liabilities: Government agencies... 5,576 2,46 _ Other... _ Advances from: Government agencies... _ Other... _ Trust and deposit liabilities: Government agencies... _ Other... 2,8, _ Bonds, debentures, and notes payable: Government agencies... _ Participation certificates... 52,582 _ Principal payments for redemption of participation certificates ()... 3,366 Other... _ Other liabilities (including reserves)... 2,53 6 liabilities... 29,227 6/ 58, NET INVESTMENT United States interest: Interestbearing investment: Capital stock... Borrowings from the U.S. Treasury , ,500 _ Other... _ Noninterestbearing investment: Capital stock _ Appropriations... 6,348,485 _ 87,000,34,734 _ 5,863 Capitalization of assets (net)... 37,849 00,989 _ Other... 24, 573 _ 72,000 9,733 Accumulated net income, or deficit ().. 4,279, ,96 6,885,66,764 6,848 Deposits of general and special fund revenues ()... _ United.States interest... 2,669, ,304 49,688 0,2 2,4 6,30 Trust and private interest: Principal of fund... Accumulated net income, or deficit ().. trust and private interest... _ liabilities and investment... 2,698, ,688 0,239 2,503 6,947 Footnotes at end of Section. (Continued on following page)

139 January FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS. Section I Government Corporations and Other BusinessType Activities Table GAI. Statements of Financial Condition, September 30, 970 (Continued) (In thousands of dollars) Housing and Urban Development Department (Continued) Mortgage credit (Continued) Federal Housing Administration (Continued) GNMA Account ASSETS Cash in banks, on hand, and in transit... Fund balances with the U.S. Treasury l/.. Investments: Public debt securities (par value)... Securities of Government enterprises... Securities of Governmentsponsored enterprises... *... Other securities... Unamortized premium, or discount ()... Advances to contractors and agents: Government agencies... Other... Accounts and notes receivable: Government agencies... Other (net)... Inventories... Allowance for losses ()... Accrued interest receivable: On public debt securities... On securities of Government enterprises Other... Loans receivable: Government agencies... Other: U.S. dollar loans... Foreign currency loans... Allowance for losses ()... Acquired security or collateral: Real estate... Other... Allowance for losses ()... Land, structures, and equipment... Accumulated depreciation ()... Foreign currencies... Other assets (net).... assets... LIABILITIES Accounts payable:.government agencies... Other... Accrued liabilities: Government agencies... Other... Advances from: Government agencies... Other... Trust and deposit liabilities: Government agencies... Other Bonds, debentures, and notes payable: Government agencies Participation certificates... Principal payments for redemption of participation certificates ()... Other Other liabilities (including reserves)... liabilities... NET INVESTMENT United States interest: Interestbearing investment: Capital stock... Borrowings from the U.S. Treasury... Other... Noninterestbearing investment: Capital stock... Appropriations... Capitalization of assets (net)... Other... Accumulated net income, or deficit (). Deposits of general and special fund revenues ()... United States interest... Trust and private interest: Principal of fund... Accumulated net income, or deficit (). trust and private interest... liabilities and investment... Footnotes at end of Section. Interstate Low and Rental Rent supplement Guarantees of land moderate housing program, Revolving Salaries and mortgagebacked sales fund (G&S) income sponsor fund (PE) assistance fund (PE) mortgage credit (G&S) fund (PE) expenses (G&S) securities fund (PE) , , ,792 83,97,75 _,009,890 _ 76, _,344 _ 42,20 45, ,973 _ 564 ~,46 260,7 _ 7,086 65,758 46,604 _ 344,093 _ 0, _ 5,48 6 2, , ,792 2,323,634,23 37 * 59,82 3,04 26, , _ 23,74 69,698 _ _ 442,357 _ ,04 698,022 6/ ,000 _ 3,375 6,763 2,60 5,03 _, ,65, 6L2 6 _ 920 3,375 52,750,625, _ , ,792 2,323,634,23 37 (Continued on following page)

140 36 Treasury Bulletin _ FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I Government Corporations and Other BusinessType Activities Table GAI. Statements of Financial Condition, September 30, 970 (Continued) (in thousands of dollars) Account Housing and Urban Development Department (Continued) Mortgage credit (Continued) Federal Insurance Departmental Government National Mortgage Association Administration management (Continued; Management and liquidating functions (PE) Participation sales fund (PE) Special assistance functions (PE) Housing for the elderly or handicapped (PE) National flood insurance fund (PE) National insurance development fund (PE) Working capital fund (IE) ASSETS Cash in banks, on hand, and in transit... _ 3 _ Fund balances with the U.S. Treasury / , ,45 5,503 Investments: Public debt securities (par value) ,080 67,000 _ Securities of Government enterprises... 54,469 80,905 08,23 Securities of Governmentsponsored enterprises... Other securities... Unamortized premium, or discount ()... 2,405 2,966 Advances to contractors and agents: Government agencies... 9,783 5/ 52,222 5/ 224 2/ Other... Accounts and notes receivable: Government agencies ,998 2, ,73 Other (net) ,759, Inventories _ 66 Allowance for losses ()... Accrued interest receivable: Otn public debt securities ,223 On securities of Government enterprises. _ Other... 9,655 3,83 3,750 Loans receivable: Government agencies... _ Other: U.S. dollar loans...,733,378 6/ 3,90,67 6/ 485,507 6/ _ Foreign currency loans... _ Allowance for losses ()... 5,745 28/ 4,855 Acquired security or collateral: Real estate...,074 _ Other , Allowance for losses ()... 2 _ Land, structures, and equipment _ 77 Accumulated depreciation () _ 68 Foreign currencies... _ Other assets (net)...,25 4,675,493 * assets...,83, ,506 3,370, , ,34 8,03 LIABILITIES Accounts payable:.government agencies Other..., Accrued liabilities: Government agencies... 4,875 34,98 2 _ Other Advances from: Government agencies... Other... _ Trust and deposit liabilities: Government agencies ,506 _ Other... 34,43 57, _ Bonds, debentures, and notes payable: Government agencies... _ Participation certificates ,20,00,886 98,50 Principal payments for redemption of participation certificates ()... 69,047 76, Other... Other liabilities (including reserves) ,072 6, liabilities ,20 793,506,08,3 99, ,325 2,060 NET INVESTMENT United States interest: Interestbearing investment: Capital stock... _ Borrowings from the U.S. Treasury...,002,440 2,29,08 44 _ Other _ Noninterestbearing investment: Capital stock... _ Appropriations ,000 _ Capitalization of assets (net)... _ 6,238 Other... _ 340 Accumulated net income, or deficit ().. 38,63 6,296 29, , Deposits of general and special fund revenues ()... United States interest...,4,053 2,352, , ,989 5,97 Trust and private interest: Principal of fund... Accumulated net income, or deficit ().. _ trust and private interest... liabilities and investment...,83, ,506 3,370, , ,34 8,03 Footnotes at end of Section. (Continued on following page)

141 January 97 *37 FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I Government Corporations and Other BusinessType Activities Table GAI. Statements of Financial Condition, September 30, 970 (Continued) (In thousands of dollars) Interior Department Bureau of Commercial Fisheries Bureau of Indian Affairs Account Alaska Power Administration (G&S) Bonneville Power Administration (G&S) Federal ship mortgage insurance fund, fishing vessels (PE) Fisheries loan fund (PE) Fishermen's protective fund (PE) Revolving fund for loans (PE) Liquidation of Hoonah housing project (PE) ASSETS Cash in banks, on hand, and in transit Fund balances with the U.S. Treasury l/ ,28 664, , Investments: Public debt securities (par value)... Securities of Government enterprises... Securities of Governmentsponsored enterprises Other securities... Unamortized premium, or discount ()... Advances to contractors and agents: Government agencies... Other... Accounts and notes receivable: Government agencies...,880 Other (net) , Inventories ,503 Allowance for losses ()... Accrued interest receivable: On public debt securities... On securities of Government enterprises. Other Loans receivable: Government agencies... Other: U.S. dollar loans... 9,646 25, Foreign currency loans... Allowance for losses () , Acquired security or collateral: Real estate... Other... Allowance for losses ()... Land, structures, and equipment... 33,752,03,70 0 * Accumulated depreciation ()...,354 62,583 Foreign currencies... Other assets (net)... 6,782 66,254 22/ 55 assets... 39,598,57,57 827, , Accounts payable: LIABILITIES Government agencies Other , Accrued liabilities: Government agencies... Other... 3,899 7 % Advances from: Government agencies... Other... Trust and deposit liabilities: Government agencies ,245 Other... 7, Bonds, debentures, and notes payable: Government agencies... Participation certificates... _ Principal payments for redemption of participation certificates ()... Other... _ Other liabilities (including reserves) , liabilities , NET INVESTMENT United States interest: Interestbearing investment: Capital stock... Borrowings from the U.S. Treasury... Other... Noninterestbearing investment:. Capital stock... Appropriations... 2,045,524,590 3, ,599 Capitalization of assets (net)... 27,342 Other...,405 29/ 233,26 2/ 2, Accumulated net income, or deficit ().. 6,526 33, ,258 3,545 0 Deposits of general and special fund revenues () ,0 ~ United States interest... 38,976,093, , , Trust and private interest: Principal of fund... Accumulated net income, or deficit ().. ~ trust and private interest... liabilities and investment... 39,598,57,57 827, * Footnotes at end of Section. (Continued on following page)

142 38 Treasury Bulletin FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I Government Corporations and Other BusinessType Activities Table GAI. Statements of Financial Condition, September 30, 970 (Continued) Account (In thousands of dollars) Interior Department (Continued) Bureau of Bureau of Reclamation Office of Office of Mines the Secretary Territories Fund for Upper Lower Expansion emergency expenses, Colorado Colorado of defense River River Basin production Working Alaska Helium Fort Peck fund (PE) Basin Development (PE) capital public Project, Montana (PE) fund (PE) fund (PE) fund (IR) works (G&S) ASSETS Cash in banks, on hand, and in transit... _ Fund balances with the U.S. Treasury / ,452,466 5, ,579 Investments: Public debt securities (par value)... Securities of Government enterprises... Securities of Governmentsponsored enterprises... Other securities... _ Unamortized premium, or discount ()... _ Advances to contractors and agents: Government agencies _ Other Accounts and notes receivable: Government agencies ,060 _ 2,355 _ Other (net) ,887 _ Inventories _ 58 Allowance for losses ()... _ Accrued interest receivable: On public debt securities... / On securities of Government enterprises. Other... _ Loans receivable: Government agencies... _ Other: U.S. dollar loans... 2,593 _ 529 Foreign currency loans... _ Allowance for losses ()... _ 990 Acquired security or collateral: Real estate... _ Other... _ Allowance for losses ()... Land, structures, and equipment... 57,44 8, , _ 338 _ Accumulated depreciation ()... 23,6,88 9,346 3 _ 246 _ Foreign currencies... _ Other assets (net) ,874 22/ ,503 22/ 3,286 assets... Accounts payable: LIABILITIES 372,80 9,640 85,957 8,37 2,57 4, Government agencies ,989 _ 3,494 _ Other... 44, , _ 63 _ Accrued liabilities: Government agencies... 5,58 Other... _ Advances from: Government agencies... _ Other _ 50 Trust and deposit liabilities: Government agencies... 8 Other Bonds, debentures, and notes payable: Government agencies... Participation certificates... Principal payments for redemption of participation certificates ()... Other... _ Other liabilities (including reserves) , _ liabilities... 44, , ,58 3,653 NET INVESTMENT United States interest: Interestbearing investment: Capital stock... _ Borrowings from the U.S. Treasury... 40,300 _ Other... 73,224 _ Noninterestbearing investment: Capital stock... _ Appropriations... _ 2,3 747,478 7, Capitalization of assets (net) ,20 58,365 0,568 7 Other... _ 5,422 55,095 24/ _ Accumulated net income, or deficit ().. 4,257 32,925, ,80 65 Deposits of general and special fund revenues () _ United States interest ,923 9,47 804,779 8,346 3, Trust and private interest: Principal of fund... Accumulated net income, or deficit ().. trust and private interest... liabilities and investment ,80 9,640 85,957 8,37 2,57 4, to 0^ o oto Footnotes at end of Section. (Continued on following page)

143 January 97 _ FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS J39 Section I Government Corporations and Other BusinessType Activities Table GAI. Statements of Financial Condition, September 30, 970 (Continued) (In thousands of dollars) Account Interior Department (Continued) Southeastern Power Administration (G&S) Southwestern Power Commissary Administration funds, Federal (G&S) Prisons (TR) 2/ Federal Prison Svstem Federal Prison Industries, Inc. (IR) Justice Department Immigration and Naturalization Service (G&S) Legal activities and general administration (G&S) Labor Dept. Bureau of Employment Security Advances to unemployment trust fund (PE) 2/ ASSETS Cash in banks, on hand, and in transit... _ Fund balances with the U.S. Treasury /.. 97,76 546,575 2,085 23,22 35,623 Investments: Public debt securities (par value)... Securities of Government enterprises... Securities of Governmentsponsored enterprises... Other securities... Unamortized premium, or discount ()... Advances to contractors and agents: Government agencies... Other... _ _ Accounts and notes receivable: Government agencies , Other (net)...,077 3, ,065 _ Inventories..., , Allowance for losses ()... Accrued interest receivable: On public debt securities... On securities of Government enterprises. Other Loans receivable: Government agencies... Other: U.S. dollar loans... 7,722 29,500 _ Foreign currency loans... Allowance for losses ()... Acquired security or collateral: Real estate... Other... _ Allowance for losses ()... Land, structures, and equipment , ,359 28,66 2,552 _ Accumulated depreciation () ,455 5,780 5,303 _ Foreign currencies... _ Other assets (net)...,53 4, ,60 2&/ assets... 2,979 66,520,455 6,67 37, ,45 345,62 LIABILITIES Accounts payable: Government agencies... * ,087 Other ,20,39 0,495 Accrued liabilities: Government agencies...,69 Other ,827 Advances from: Government agencies Other... Trust and deposit liabilities: Government agencies... 6,267,497 Other ,02 Bonds, debentures, and notes payable: Government agencies... Participation certificates... Principal payments for redemption of participation certificates ()... Other... Other liabilities (including reserves) ,322 liabilities , ,920 40,662 4,079 NET INVESTMENT United States interest: Interestbearing investment: Capital stock Borrowings from the U.S. Treasury... Other... Noninterestbearing investment: Capital stock... Appropriations... 5,802 00,337 40,382 0,450 33,000 Capitalization of assets (net) ,693 6,629 4,858 3/ _ 434,922 32,62 Other... Accumulated net income, or deficit () ,99 8,966 7,800 50,67 25,556 Deposits of general and special fund revenues () ,96 54,334 3,626 United States interest... 2,877 58,862 57,246 3, , ,62 Trust and private interest: Principal of fund... Accumulated net income, or deficit ()..,267 trust and private interest...,267 liabilities and investment... 2,979 66,520,455 6,67 37, ,45 345,62 Footnotes at end of Section. (Continued on following page)

144 40 Treasury Bulletin FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I Government Corporations and Other BusinessType Activities Table GAI. Statements of Financial Condition, September 30, 970 (Continued) (In thousands of dollars) Account Labor Department (Continued) Office of the Secretary Working capital fund (IR) Post Office Department Postal (PE) 27/ International Boundary and Water Commission (G&S) State Department Working capital fund (IR) Aviation war risk insurance revolving fund (PE) Transportation Department Federal Railroad Administration Alaska Railroad revolving fund (PE) Saint Lawrence Seaway Development Corporation (PE) ASSETS Cash in banks, on hand, and in transit... 27, Fund balances with the U.S. Treasury l/... 2,94,732,498, ,996,74 Investments: Public debt securities (par value)... Securities of Government enterprises... Securities of Governmentsponsored enterprises... Other securities... Unamortized premium, or discount ()... Advances to contractors and agents: Government agencies ,247 Other... 3, _ 2 Accounts and notes receivable: Government agencies... _,002 68,263 Other (net) , , Inventories , , Allowance for losses ()... Accrued interest receivable: On public debt securities... On securities of Government enterprises. Other... _ Loans receivable: Government agencies Other: U.S. dollar loans Foreign currency loans... Allowance for losses ()... _ Acquired security or collateral: Real estate... _ Other... _ Allowance for losses ()... _ Land, structures, and equipment ,872,892 28/ 8, * 47,947 3,28 Accumulated depreciation () ,02 4, ,459 6,49 Foreign currencies... _ Other assets (net)... 23,93 22/ 78,605 40/ * 3,774 assets... 3,264 3,367,22 47,67 2, ,768 7,570 LIABILITIES Accounts payable:.government agencies... 46, Other , Accrued liabilities: ,726,082 4 Advances from: Government agencies Other..., Government agencies Other... Trust and deposit liabilities: Government agencies... * 0 Other Bonds, debentures, and notes payable: Government agencies... Participation certificates... Principal payments for redemption of participation certificates ()... Other... _ Other liabilities (including reserves) ,409 7, , liabilities... 2, ,87 Q j 3,349,77 7 3,43 5,09 NET INVESTMENT United States interest: Interestbearing investment: Capital stock... _ Borrowings from the U.S. Treasury... _ 33,476 Other... 20,629 42/ Noninterestbearing investment: Capital stock Appropriations ,589 93,265 Capitalization of assets (net) , ,895 Other ,243, ,503 Accumulated net income, or deficit ().. Deposits of general and special fund ,029 68, ,303 4,645 revenues ()... 0,939 United States interest ,464,350 38, ,354 2,46 Trust and private interest: Principal of fund... Accumulated net income, or deficit ().. trust and private interest... liabilities and investment... 3,264 3,367,22 47,67 2, ,768 7,570 Footnotes at end of Section. (Continued on following page)

145 January 97 4 _ FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FITNDS Section I Government Corporations and Other BusinessType Activities Table GAI. Statements of Financial Condition, September 30, 970 (Continued) (In thousands of dollars) Account Coast Guard Cadet fund (TR) United States Coast Guard Supply fund (IR) Transportation Department (Continued) Surcharge collections, sales of commissary stores (TR) Yard fund (IE) Urban Mass Transportation Administration Urban mass transportat ion fund (PE) Working capital fund (IR) Treasury Department Bureau of Engraving and Printing (IE) ASSETS Cash in "banks, on hand, and in transit * Fund balances with the U.S. Treasury / ,39 9 7,646 63, ,267 Investments: Public debt securities (par value) _ Securities of Government enterprises... _ Securities of Governmentsponsored enterprises... Other securities Unamortized premium, or discount ()... 7 Advances to contractors and agents: Government agencies ,607 Other... 2,799 3 Accounts and notes receivable: Government agencies... 92,957 l,6ll '. _ 3,457 Other (net)... * ,35 Inventories... 8,803 3, ,944 Allowance for losses () Accrued interest receivable: On public debt securities... On securities of Government enterprises. Other... 7 Loans receivable: Government agencies... Other: U.S. dollar loans... 4,575 Foreign currency loans.... Allowance for losses ()... Acquired security or collateral: Real estate... Other... Allowance for losses ()... Land, structures, and equipment... 6,354,02 * 3,55 Accumulated depreciation ()... 8, ,79 Foreign currencies... Other assets (net)... 2, assets , , ,676 5,025 4,288 LIABILITIES Accounts payable:.government agencies..., , Other , , ,040 Accrued liabilities: Government agencies Other ,834 Government agencies Advances from: 285 8,820, Other Trust and deposit liabilities: Government agencies * Other Bonds, debentures, and notes payable: Government agencies... Participation certificates... Principal payments for redemption of participation certificates ()... Other... Other liabilities (including reserves) ,943 liabilities ,06,049 22,68 2,405 6,444 NET INVESTMENT United States interest: Interestbearing investment: Capital stock Borrowings from the U.S. Treasury... Other... Noninterestbearing investment: Capital stock... Appropriations...,032,056 3,250 Capitalization of assets (net)... 0,08 9,795 22,00 Other ,835 8,939 Accumulated net income, or deficit () , Deposits of general and special fund revenues ()... United States interest... 0,20 9, ,995 2,620 34,845 Trust and private interest: Principal of fund Accumulated net income, or deficit () trust and private interest liabilities and investment , , ,676 5,025 4,288 Footnotes at end of Section. (Continued on following page)

146 42 Treasury Bulletin _ FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I Government Corporations and Other BusinessType Activities Table GAI. Statements o f Financial Condition, September 30, 970 (Continued) (In thousands of dollars) Treasury Department (Continued) Account Office of the Treasurer Internal Office of Revenue the Secretary Civil defense Expansion Service Miscellaneous Office of the and RFC loans of defense loans and Comptroller Federal Farm Treasurer in liquidation (PE) production (PE) Federal tax lien revolving fund (PE) certain other assets (G&S) of the Currency (TR) Mortgage Corporation liquidation fund (PE) of the U.S., check forgery insurance fund (?E) ASSETS Cash in banks, on hand, and in transit... Fund balances with the U.S. T r e a s u r y... Investments: Public debt securities (par value)... Securities of Government enterprises... Securities of Governmentsponsored enterprises... Other securities... Unamortized premium, or discount ()... Advances to contractors and agents: Government agencies... Other... Accounts and notes receivable: Government agencies... Other (net) Inventories... Allowance for losses ()... Accrued interest receivable: On public debt securities... On securities of Government enterprises. Other... Loans receivable: Government agencies... Other: U.S. dollar loans... Foreign currency loans... Allowance for losses ()... Acquired security or collateral: Real estate... Other... Allowance for losses ()... Land, structures, and equipment... Accumulated depreciation ()... Foreign currencies Other»resets (net)... assets LIABILITIES 76 7,637 24o,6^3 7, ,4,735 3,672,458 43/,37,526 44,78 4,657,04 44/ 22, , , ,73 8, ,045,828 30, Accounts payable: Government agencies Other Accrued liabilities: Government agencies... Other...,5 Advances from: Government agencies... Other... Trust and deposit liabilities: Government agencies Other Bonds, debentures, and notes payable: Government agencies... Participation certificates... Principal payments for redemption of participation certificates ()... Other... io4 Other liabilities (including reserves)... 6,83,458 9,608 liabilities... NET INVESTMENT 8,83,458, United States interest: Interestbearing investment: Capital stock... Borrowings from the U.S. Treasury... Other... Noninterestbearing investment: Capital stock... Appropriations ,668, Capitalization of assets (net)... Other... 7,73 Accumulated net income, or deficit ().. _ 8,9^3,563,67 37 Deposits of general and special fund revenues ()... United States interest... 7,73 8,9^3 500,232, Trust and private interest: Principal of fund... Accumulated net income, or deficit ().. 9,604 trust and private interest... 9,604 liabilities and investment... 7,73 8, ,045,828 30, rl II I I I II 0O I I I I I I I I I I I I I I VO r Footnotes at end of Section. (Continued on following page)

147 January _ FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I Government Corporations and Other BusinessType Activities Table GAI. Statements of Financial Condition, September 30, 970 (Continued) (In thousands of dollars) General Services Administration Account General Services Administration (G&S) 45/ Automatic data processing fund (IR) Buildings management fund (IR) Construction services, public buildings (IR) Defense production loan guarantees (PE) Expansion of defense production (PE) Federal telecommunications fund (IR) ASSETS Cash in banks, on hand, and in transit _ 2 Fund balances with the U.S. Treasury / ,587 0,39 2,434 3, ,638 3,395 Investments: Public debt securities (par value)... " Securities of Government enterprises... Securities of Governmentsponsored enterprises... Other securities... Unamortized premium, or discount ()... Advances to contractors and agents: Government agencies... 5,050 5 Other... 27, * 6 Accounts and notes receivable: Government agencies... 6,582,060 42, ,95 Other (net)... 37, , Inventories... 5,662,654 78, , Allowance for losses ()... Accrued interest receivable: On public debt securities... On securities of Government enterprises. Other...,769,255 Loans receivable: Government agencies... Other: U.S. dollar loans , * Foreign currency loans... Allowance for losses ()... Acquired security or collateral: Real estate... _ Other... Allowance for losses ()... Land, structures, and equipment... 2,652,84 24,666 23,43 9,684 Accumulated depreciation ()... 5,99^ 0,977 7,26 62,007 Foreign currencies... _ Other assets (net) ,055 hs/ ,000 assets... 9,64,034 25,570 40,409 3, ,98 35,23 LIABILITIES Accounts payable:.government agencies... 4, , i 395 Other... 9,^34 3,365 29, ,553 Accrued liabilities: Government agencies ,5^8 Other... Advances from: Government agencies... 23,333 47/ 4 7,370 Other... Trust and deposit liabilities: Government agencies Other... 2,27 Bonds, debentures, and notes payable: Government agencies... Participation certificates... Principal payments for redemption of participation certificates ()... Other... Other liabilities (including reserves)... 43, ,677 2,302 7,H3 4,36 liabilities ,928 4,2 36,95 3,23 256,806 24,264 NET INVESTMENT United States interest: Interestbearing investment: Capital stock... _ Borrowings from the U.S. Treasury...,877,500 Other... ~ Noninterestbearing investment: Capital stock... Appropriations... 0,000 3, ,000 Capitalization of assets (net)... 2,030 7, Other... 9,358, , Accumulated net income, or deficit () ,297,839 2,229 Deposits of general and special fund revenues ()... United States interest... 9,358,07 2,458 4, ,76 0,949 Trust and private interest: Principal of fund... Accumulated net income, or deficit ().. trust and private interest... liabilities and investment... 9,64,034 25,570 40,409 3, ,98 35, Footnotes at end of Section. (Continued on following page)

148 44 Treasury Bulletin _ FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I Government Corporations and Other BusinessType Activities Table GAI. Statements of Financial Condition, September 30, 970 (Continued) (In thousands of dollars) General Services Administration (Continued) Account General supply fund (IR) National Archives trust fund (TR) Reconstruction Finance Corporation liquidation fund (PE) Liquidation of Virgin Islands Corporation (PE) William Langer Jewel Bearing Plant revolving fund (PE) Working capital fund (IR) National Aeronautics and Space Administration (G&S) ASSETS Cash in banks, on hand, and in transit _ 82 Fund balances with the U.S. Treasuiy l/* 80, , ,20,42. Investments: Public debt securities (par value) Securities of Government enterprises... Securities of Governmentsponsored enterprises... _ Other securities... _ Unamortized premium, or discount ()... 9 _ Advances to contractors and agents: Government agencies ,27 Other... 4,429 * * 26,573 Accounts and notes receivable: Government agencies... 65, ,27 24,545 Other (net)..., ,9 Inventories , ,55 Allowance for losses ()... _ Accrued interest receivable: On public debt securities... _ 0 _ On securities of Government enterprises. Other... 2 * _ Loans receivable: Government agencies... _ Other: U.S. dollar loans ,392 Foreign currency loans... Allowance for losses ()... _ Acquired security or collateral: Real estate... _ Other... _ Allowance for losses ()... Land, structures, and equipment... 5, _ 978 2,409 4,59,2 Accumulated depreciation ()... 63, ,422 Foreign currencies... Other assets (net) ,39,947 48/ assets... Accounts payable: LIABILITIES 587,56, ,603 2,90 2,878 9,430,288.Government agencies... 7, ,799 Other... 39, ,404 Accrued liabilities: Government agencies... Other... _ Advances from: Government agencies... 29, _ Other Trust and deposit liabilities: Government agencies... 4,55 Other ,554 Bonds, debentures, and notes payable: Government agencies... _ Participation certificates... _ Principal payments for redemption of participation certificates ()... _ Other... _ Other liabilities (including reserves)... 2, ,92 liabilities , , ,833 NET INVESTMENT United States interest: Interestbearing investment: Capital stock... _ Borrowings from the U.S. Treasury... Other... _ Noninterestbearing investment: Capital stock... _ Appropriations ,750 _ 450 2,60,436 Capitalization of assets (net)... 2,33 0,228 2, Other , _ 240 6,589,09 Accumulated net income, or deficit ().. 5, Deposits of general and special fund revenues ()... _ United States interest , ,600 2,85,43 8,749,454 Trust and private interest: Principal of fund... Accumulated net income, or deficit ()..,265 trust and private interest...,265 liabilities and investment ,56, ,603 2,90 2,878 9,480,288 Footnotes at end of Section. (Continued on following page)

149 January FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I Government Corporations and Other BusinessType Activities Table GAI. Statements of Financial Condition, September 30, 970 (Continued) (In thousands of dollars) Veterans Administration Account Canteen service revolving fund (PE) Direct loans to veterans and reserves (PE) Loan guaranty revolving fund (PE) Rental, maintenance, and repair of quarters (PE) Servicemen s group life insurance fund (PE) Servicedisabled veterans insurance fund (PE) Soldiers and sailors civil relief (PE) ASSETS Cash in "banks, on hand, and in transit... Fund balances with the U.S. Treasury l/... Investments: Public debt securities (par value)... Securities of Government enterprises... Securities of Governmentsponsored enterprises Other securities... Unamortized premium, or discount ()... Advances to contractors and agents: Government agencies... Other... Accounts and notes receivable: Government agencies... Other (net)... Inventories... Allowance for losses ()... Accrued interest receivable: On public debt securities... On securities of Government enterprises. Other... Loans receivable: Government agencies... Other: U.S. dollar loans... Foreign currency loans... Allowance for losses ()... Acquired security or collateral: Other... Allowance for losses ()... Land, structures, and equipment... Accumulated depreciation ()... Foreign currencies... Other assets (net)... LIABILITIES Accounts payable:.government agencies... Other... Accrued liabilities: Government agencies... Other... Advances from: Government agencies... Other... Trust and deposit liabilities: Government agencies... Other... Bonds, debentures, and notes payable: Government agencies... Participation certificates... Principal payments for redemption of participation certificates ()... Other... Other liabilities (including reserves)... liabilities... NET INVESTMENT United States interest: Interestbearing investment: Capital stock... Borrowings from the U.S. Treasury... Other... Noninterestbearing investment: Capital stock... Appropriations Capitalization of assets (net)... Other... Accumulated net income, or deficit ().. Deposits of general and special fund revenues ()... 2,605 2, ,27 9,55 4, ,745 4l,88l 5/ *,54 2,09,379,257 6/ 4, ,85 8,24 5/ ,039,363,479 6/ 5,9 4,543 2, , ,732 8,599 2,066,836 2,00, , , ,30 32,3 5, ,739 8,684,84 38,00 939,550 49,567 2, , , ,82?30>28a 6J_ , ,343,224,360 94, , ,78 49/ 75,33 8 United States interest... 3,72,39,024,079, , Trust and private interest: Principal of fund... _ Accumulated net income, or deficit ().. trust and private interest... liabilities and investment... 8,599 2,066,836 2,00, , ,500 57, ,028 2,005 Footnotes at end of Section. (Continued on following page)

150 46 Treasury Bulletin FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I Government Corporations and Other BusinessType Activities Table GAI. Statements of Financial Condition, September 30, 970 (Continued) (in thousands of dollars) Veterans Administration (Continued) Other independent agencies Account Supply fund (IR) Veterans' reopened insurance fund (PE) Veterans special life insurance fund (PE) Vocational rehabilitation revolving fund (PE) Consolidated working fund (G&S) 50/ Civil Service Commission Employees' health benefits fund (TR) Employees life insurance fund (TR) ASSETS Cash in banks, on hand, and in transit... _ 3,3 Fund balances with the U.S. Treasury / 0,5^ ,789,589 6,643 Investments: Public debt securities (par value)... 27,349 80,592 Securities of Government enterprises... 62,804 02,536 Securities of Governmentsponsored enterprises... Other securities... Unamortized premium, or discount () ,69 Advances to contractors and agents: Government agencies Other ,25 206,000 Accounts and notes receivable: Government agencies... 4,238 77,887 26,84 Other (net) ,007 Inventories... 37,739 Allowance for losses ()... Accrued interest receivable: On public debt securities... 2,749 3,00,566 8,786 On securities of Government enterprises. Other ,779 Loans receivable: Government agencies... Other: U.S. dollar loans... 6,347 24,27 38 Foreign currency loans... Allowance for losses ()... Acquired security or collateral: Real estate... Other... Allowance for losses ()... _ Land, structures, and equipment..., Accumulated depreciation () Foreign currencies... Other assets (net) * assets... LIABILITIES 53,549 72, , ,940,066,590 Accounts payable: Government agencies...,586 _ Other... 7, ,33 5 Accrued liabilities: 94,406 3^,387 Government agencies... 4l _ 2 Other _ 7 _ Advances from: Government agencies... 5,000 Other... _ Trust and deposit liabilities: Government agencies... Other... Bonds, debentures, and notes payable: Government agencies... Participation certificates... Principal payments for redemption of participation certificates ()... Other... Other liabilities (including reserves) , , ,080,684 liabilities... 5,736 63, ,99* ,864,5,07 NET INVESTMENT United States interest: Interestbearing investment: Capital stock... Borrowings from the U.S. Treasury... Other... Noninterestbearing investment: Capital stock... Appropriations... 4oo 52 Capitalization of assets (net)... 38, Other Accumulated net income, or deficit () ,329 2, Deposits of general and special fund revenues ()... United States interest... 37,83 9,329 2, Trust and private interest: Principal of fund... Accumulated net income, or deficit ().. " 40,076 48,48 trust and private interest... 40,076 48,48 liabilities and investment... 53,549 72, , ,940,066,590 Footnotes at end of Section. (Continued on following page)

151 January _ FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I Government Corporations and Other BusinessType Activities Table GAI. Statements of Financial Condition, September 30, 970 (Continued) Account (In thousands of dollars) Other independent agencies (Continued) Civil Service Commission (Continued) ExportImport Farm Credit Administration Bank of the United States Revolving fund (IR) Retired employees' health benefits fund (TR) Salaries and expenses (G&S) Regular lending activities (PE) Banks for cooperatives investment fund (PE) Revolving fund for administrative expenses (PE) Shortterm credit investment fund (PE) ASSETS Cash in hanks, on hand, and in transit _ 2,97 Fund balances with the U.S. Treasury /,625,072 8, ,09,465,708 Investments: Public debt securities (par value)... 32,584 Securities of Government enterprises... Securities of Governmentsponsored enterprises... Other securities... Unamortized premium, or discount ()...,65 Advances to contractors and agents: Government agencies Other , Accounts and notes receivable: Government agencies.... 4, Other (net) ,234 Inventories...,386 Allowance for losses ()... _ Accrued interest receivable: On public debt securities On securities of Government enterprises. Other... 94,59 Loans receivable: Government agencies... Other: U.S. dollar loans... 5,746,479 5/ Foreign currency loans... Allowance for losses ()... Acquired security or collateral: Real estate... Other... Allowance for losses ()... Land, structures, and equipment...,250 5, Accumulated depreciation () Foreign currencies... Other assets (net)... 2,232 assets... LIABILITIES 8,336 38,027 4,205 5,846,795 48,09,490,708 Accounts payable:.government agencies Other Accrued liabilities: Government agencies _ ,263 Other..., ,049 38,36 Advances from: Government agencies...,76 4oo Other... Trust and deposit liabilities: Government agencies... 7 Other , Bonds, debentures, and notes payable: Government agencies... Participation certificates...,483,876 Principal payments for redemption of participation certificates ()... Other ,000 Other liabilities (including reserves)...,23 3,023 3,425 5,754,578 liabilities... NET INVESTMENT 4,376 3,83 7,99,952,208,82 United States interest: Interestbearing investment: Capital stock... Borrowings from the U.S. Treasury...,620,82 Other... Noninterestbearing investment: Capital stock...,000,000 Appropriations... 4,000 4,929 50,000 30,000 Capitalization of assets (net)... 5,503 Other ,425 4oi Accumulated net income, or deficit ().. l4i,274,405, ,292 Deposits of general and special fund revenues ()... United States interest... 3,960 7,007 3,894,587 48,09 322,708 Trust and private interest: Principal of fund... Accumulated net income, or deficit ().. 34,96 trust and private interest... 34,96 liabilities and investment... 8,336 38,027 4,205 5,846,795 48,09,490,708 Footnotes at end of Section. (Continued on following page)

152 48 Treasury Bulletin _ FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I Government Corporations and Other BusinessType Activities Table GAI. Statements of Financial Condition, September 30, 970 (Continued) Account Federal Communications Commission (G&S) Federal Deposit Insurance Corporation (TR) (in thousands of dollars) Other independent agencies (Continued) Federal Home Loan Bank Board Federal Savings and Loan Insurance Corporation (PE) Home Owners' Loan Corporation (liquidated) (PE) Revolving fund (PE) Federal Maritime Commission (g&s ) Federal Mediation and Conciliation Service (G&S) ASSETS Cash in banks, on hand, and in transit... 6,945 5 Fund balances with the U.S. Treasury /... 5,304 2,539 2, , ,303 Investments: Public debt securities (par value)... 4,498,207 2,335,234 Securities of Government enterprises... 59,550 Securities of Governmentsponsored enterprises... _... _ 2,680 Other securities... Unamortized premium, or discount ()... 24,77 5,736 Advances to contractors and agents: Government agencies... Other... _ 6 4 Accounts and notes receivable: Government agencies ,603 Other (net) l4 580 i,4o8 Inventories Allowance for losses ()... _ Accrued interest receivable: On public debt securities... _ 53,H2 24,39 On securities of Government enterprises. 2,339 Other...,942 Loans receivable: Government agencies... _ Other: U.S. dollar loans ,808 Foreign currency loans... Allowance for losses ()... Acquired security or collateral: Real estate... 70,534 Other... 44,789 Allowance for losses ()... 46,729 Land, structures, and equipment... 9,89 8, , Accumulated depreciation () Foreign currencies... Other assets (net)... 39, * assets... 5,685 4,583,520 2,942, ,39 649,475 LIABILITIES Accounts payable:.government agencies , Other...,82, Accrued liabilities: Government agencies Other Advances from: Government agencies... Other... i,734 Trust and deposit liabilities: Government agencies * Other Bonds, debentures, and notes payable: Government agencies... Participation certificates... Principal payments for redemption of participation certificates ()... Other ,634 Other liabilities (including reserves)... 2,4 292,838 52,058 2, liabilities... 5,66 295,597 6/ 53,988 6/ 304 0, ,38 NET INVESTMENT United States interest: Interestbearing investment: Capital stock... Borrowings from the U.S. Treasury... _ Other... Noninterestbearing investment: Capital stock... _ Appropriations... 2,88 _ 828 Capitalization of assets (net)... 7,638 _ Other..* Accumulated net income, or deficit ().. 2,888,88 _,743 Deposits of general and special fund revenues ()... United States interest... 0,59 2,888,88, Trust and private interest: Principal of fund... Accumulated net income, or deficit ().. 4,287,923! / trust and private interest... 4,287,923 liabilities and investment... 5,685 4,583,520.2,942, ,39 649,475 Footnotes at end of Section. (Continued on following page)

153 January 97 FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FTTNDS J49 Account ASSETS Section I Government Corporations and Other BusinessType Activities Table GAI. Statements o f Financial Condition, September 30, 970 (Continued) Federal Power Commission (G&S) Interstate Commerce Commission Repayment of loan guarantees (G&S) (in thousands of dollars) Other independent agencies (Continued) National Credit Union Administration (PE) Selective Service System (G&S) Small Business Administration Business Disaster Lease loan and loan guarantees investment fund revolving fund (PE) (PE) fund (PE) Cash in banks, on hand, and in transit... l4 _ 0 Fund balances with the U.S. Treasury /... 3,557,20 5,648 82,236 66,268 4,092 Investments: Public debt securities (par value)...,520 Securities of Government enterprises... Securities of Governmentsponsored enterprises... Other securities... Unamortized premium, or discount ()... 9 Advances to contractors and agents: Government agencies ,660 5/ 797 5/ Other Accounts and notes receivable: Government agencies... * _ 58 25,967 2,0 Other (net) ,582 6,482 4 Inventories Allowance for losses ()... Accrued interest receivable: On public debt securities... _ 6 On securities of Government enterprises. Other... 24,057 3,0 Loans receivable: Government agencies.... Other: U.S. dollar loans... 28,279,269,355 6/ 4,960 6/ Foreign currency loans... Allowance for losses ()... 2,673 90,02 5,797 Acquired security or collateral: Real estate... 3, Other... 3, Allowance for losses () Land, structures, and equipment... 2, ,246 Accumulated depreciation () Foreign currencies... _ Other assets (net)... 54,585,50 assets... LIABILITIES 6,24 5,606 2,966 25,904,490,07 570,92 5,537 Accounts payable:.government agencies ,^5 38 Other , Accrued liabilities: Government agencies... _ ,39 5,460 Other Advances from: Government agencies... Other... Trust and deposit liabilities: Government agencies...,520 * Other Bonds, debentures, and notes payable: Government agencies... Participation certificates ,422 48,424 Principal payments for redemption of participation certificates ()... 23,275 9,448 Other... Other liabilities (including reserves) ,9^3, liabilities... NET INVESTMENT 2,505 J,596, ,843 6/ 34,553 46o United States interest: Interestbearing investment: Capital stock... Borrowings from the U.S. Treasury... Other , ,34 Noninterestbearing investment: Capital stock... Appropriations ,044 38,23 5,000 Capitalization of assets (net)... 0,246 33^,396 99,896 Other... 3,397 4,9^3 Accumulated net income, or deficit ().. 2,673,370 29, ,78 99, Deposits of general and special fund revenues ()... 3,765 United States interest... 3,69 5,606,370 4, , ,368 5,076 Trust and private interest: Principal of fund... Accumulated net income, or deficit ().. trust and private interest... liabilities and investment... 6,24 5,606 2,966 25,904,490,07 570,92 5,537 Footnotes at end of Section. (Continued on following page)

154 50 Treasury Bulletin _ FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section I Government Corporations and Other BusinessType Activities Table GAI. Statements of Financial Condition, September 30, 970 (Continued) Account Small Business Administration (Continued) Salaries and expenses (G&S) (In thousands of dollars) Other independent agencies (Continued) Tennessee Valley Authority (PE) United States Information Agency Informational media guaranty fund (PE) ASSETS Cash in banks, on hand, and in transit Fund balances with the U.S. Treasury /... 8,306 54, Investments: Public debt securities (par value)... Securities of Government enterprises... Securities of Governmentsponsored enterprises... Other securities... Unamortized premium, or discount ()... Advances to contractors and agents: Government agencies... Other..., Accounts and notes receivable: Government agencies ,259 Other (net) ,75 Inventori es... 42,907 Allowance for losses () Accrued interest receivable: On public debt securities... On securities of Government enterprises. Other... 2 _ Loans receivable: Government agencies... Other: U.S. dollar loans... _ Foreign currency loans... Allowance for losses ()... Acquired security or collateral: Real estate... _ Other... _ Allowance for losses ()... _ Land, structures, and equipment... 3,265 3,873,6** _ Accumulated depreciation ()...,*95,065,657 _ Foreign currencies... _ 0 Other assets (net) ,283 53/ _ assets...,395 3,62, LIABILITIES Accounts payable: Government agencies... k7k,585 _ Other...,068 66,306 _ Accrued liabilities: Government agencies... _ 967 4,34 Other......,798 7,02 Advances from: Government agencies... _ Other... Trust and deposit liabilities: Government agencies...,03 _ Other... 29,968 _ Bonds, debentures, and notes payable: Government agencies... _ Participation certificates... _ Principal payments for redemption of participation certificates ()... _ Other...,045,000 _ Other liabilities (including reserves)... i+,708 8,086 _ liabilities... 8,267,52,036 4,34 NET INVESTMENT United States interest: Interestbearing investment: Capital stock... Borrowings from the U.S. Treasury... 00,000 Other... _ 22,4 _ Noninterestbearing investment: Capital stock... _ Appropriations... 6,066 2,098,342 _ Capitalization of assets (net)...,770 53,24 _ Other... 4,708 _ Accumulated net income, or deficit ().. 209,400 54/ 26,072 Deposits of general and special fund revenues ()... United States interest.... 3,28 2,460, ,358 Trust and private interest: Principal of fund... Accumulated net income, or deficit ().. trust and private interest... liabilities and investment...,395 3,62, Footnotes at end of Section.

155 January 97 5 i T T M A N f i T A T. OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Footnotes to Table GAI (PE) Public enterprise revolving funds. (IR) Intragovernmental revolving funds. (TR) Trust revolving funds. (G&S) General and special funds (also includes loan accounts of enterprises in liquidation and foreign currency). / ^hese amounts consist mainly of unexpended balances of general, special, and revolving fund accounts against which checks may be drawn to pay proper charges under these funds. The funds are considered as assets of the agencies, but are not assets of the United States Government since funds must be provided out of cash balances of the Treasurer of the United States and future receipts to take care of checks to be issued against the balances. 2/ Includes Federal home loan bank notes of $2 million, Federal intermediate credit bank debentures of $5 million, and Federal National Mortgage Association debentures and discount notes of $6 million. 2/ Includes foreign currency assets, representing loans and other receivables recoverable in foreign currency as well as balances of foreign currencies in United States depositaries, aggregating $5,98 million in dollar equivalent. These currencies, acquired primarily without the payment of dollars, were generated under various Government programs, principally the Agricultural Trade Development and Assistance Act of 954, as amended, and the Mutual Security Acts, as amended. Dollar equivalents are computed for reporting purposes, to provide a common denominator for the currencies of the many countries involved. Foreign currencies on hand and on deposit and loans under section 04 (e) of the Agricultural Trade Development and Assistance Act of 954, as amended, are stated at the rates as of September 30, 970, at which the United States could purchase currencies on the market for regular operating purposes. Other loans are stated at rates at which they are to be repaid or at rates in effect when the loans are extended. Currencies that are dollar denominated or guaranteed as to rates of exchange are stated at rates specified in the agreements. ij Excludes personal property which had an original acquisition cost value of $6 million accounted for by this fund. Represents collections of principal turned over to the Government National Mortgage Association, participation sales fund and held for redemption of participation certificates. 6/ Certain corporations and other businesstype activities that have submitted statements of financial condition guarantee and insure loans made by private financial institutions and insure deposits in banks and savings and loan associations. These commitments are excluded from their balance sheets. The major agencies that have these items and the principal amounts thereof are as follows: Activity Amount (In millions of dollars) Funds appropriated to the President: Liquidation of foreign military sales fund (June 30, 970) r Agency for International Development: Foreign investment guaranty fund (June 30, 970) 3,7 Agriculture Department: Farmers Home Administration: Agricultural credit insurance fund... 2,093 Rural housing insurance fund... 2,84 Commerce Department: Maritime Administration: Federal ship mortgage insurance fund Health, Education, and Welfare Department: Offiee of Education: Student loan insurance fund (June 30, 970)...,595 Housing and Urban Development Department: Renewal and housing assistance: Lowrent public housing: Local housing authority bonds and notes... 5,732 Local housing authority temporary notes... 2,429 Urban renewal program (June 30, 970)... 2,956 Mortgage credit: Federal Housing Administration revolving fund (June 30, 970)... 67,594 Veterans Administration: Loan guaranty revolving fund (June 30, 970)... 8,96 Other independent agencies: ExportImpnart Bank of the United States (June 30, 970)...,22 Federal Deposit Insurance Corporation (June 30, 970)... 32,900 Federal Home Loan Bank Board: Federal Savings and Loan Insurance Corporation... 34,649 Interstate Commerce Commission (June 30, 970) Small Business Administration: Business loan and investment fund (June 30, 970) 537 7/ Represents the Cooley loan program established pursuant to the Agricultural Trade Development and Assistance Act of 954, as amended (7 U.S.C. 704 (e)). 8/ Represents deferred income. 2/ Represents transfers of principal and interest to miscellaneous receipts of the Department of the Treasury. 0/ Consists of contingency fund, InterAmerican social and economic program, and supporting assistance loans. / Includes the Overseas Private Investment Corporation reserves fund. 2/ Figures are as of June 30, 970, the latest available. 3/ Includes $30 million representing miscellaneous loan receipts to be used for issuing an equivalent amount of capital stock to the Secretary of the Treasury. 4/ Represents noninterestbearing public debt borrowings from the Department of the Treasury pursuant to an act approved November 2, 965 (79 Stat. 78). 5/ Includes interest collections turned over to the Government National Mortgage Association, participation sales fund and held for payment of interest on participation certificates. 6/ Participation certificates} shown in the liability section of this statement, have been issued against certain of these loans under trust agreements with the Government National Mortgage Association, participation sales fund. 7/ Includes administrative and operating expenses funds. 8/ Includes assets in use, vessels, and other assets held primarily for mobilization, and vessels held for scrapping. 9/ Represents depreciation on assets in use and on mobilization assets, and allowance for losses on vessels held for scrapping. 20/ Excludes property such as land, structures, and equipment as follows: Air Force, $3,702 million; Army, $2,059 million; Marine Corps, $23 million; Navy, $4,823 million; and defense agencies, $6 million. 2/ Consists mainly of capital representing appropriations, reappropriations, capitalization of assets, and accumulated net income or deficit. Figures for each of these amounts were not shown separately on the report submitted by the fund. 22/ Included beginning September 30, / Represents reserve for equity of others. 24/ Includes the Defense Communications Agency. 25/ Includes Defense Atomic Support Agency and National Security Agency. 26/ Represents Consumer Protection and Environmental Health Service. 27/ A statement of financial condition as of September 30, 970, for this fund was not received by the Department of the Treasury. 28/ Represents allowance for title and other contingencies. 29/ Includes construction work in progress and unclassified assets amounting to $39 million. 30/ Includes interest accrued on investment in power facilities amounting to $2 million. 3/ Represents interest on invested capital. 32/ Includes helium stored underground held for future use amounting to $333 million. 33/ Includes construction work in progress amounting to $66 million. 34/ Includes interest on invested capital. 35/ Represents the fund known as "Advances to employment security administration account, unemployment trust fund." 36/ Represents judgments in favor of the United States. Does not include allowance for uncollectible items. 37/ Figures are as of October 6, 970. The cash and fund balances and receivables include sufficient funds to pay for resources on order of $39 million. These resources on order are a part of the Government equity in the Postal Service. 38/ Valued at cost, estimated if not known. Land includes sites held for resale to prospective lessors for which $9 million has been paid or obligated. 39/ Represents construction work in progress and in warehouse. 40/ Includes construction work in progress amounting to $76 million. 4/ Liabilities do not include: (l) undetermined amounts of postage in the hands of the public which have been accounted for as revenue when sold, and (2) the following types of contingent and future obligations: contingent liabilities for cases pending before the Civil Aeronautics Board and for pending suits and damage claims, and commitments under longterm leases. 42/ Represents accrued interest expense on borrowings from the Department of the Treasury on which payment has been deferred. 43/ Consists of stock of the Asian Development Bank amounting to $00 million, stock of the International Bank for Reconstruction and Development amounting to $635 million; and subscriptions to the International Finance Corporation, the InterAmerican Development Bank, and the International DeveloDment Association amounting to $35 million, $,950 million, and $952 million, respectively, 44/ Includes lendlease and surplus property balances amounting to $,4 million; and receivables from the District of Columbia, Greece, Japan, and the United Kingdom amounting to $322 million; $3 million; $2 million; and $2,965 million, respectively. 45/ Includes Public Works Administration (in liquidation) and strategic and critical materials. 46/ Includes buildings and land improvements, and construction work in progress amounting to $636 million. 47/ Represents an accountable advance of $23 million to General Services Administration for transfer of silver to strategic and critical materia als inventories. The value of this silver is included in inventories. 48/ Includes construction work in progress amounting to $87 million. 49/ Represents public debt borrowings transferred from the direct loans to veterans and reserves fund. These borrowings are noninterestbearing as provided by acts of February 29, 964 (78 Stat. 47), August 30, 964 (78 Stat. 66), and September 6, 966 (80 Stat. 679). 50/ Includes the Federal Labor Relations Council. 5/ Participation certificates shown in the liability section of this statement have been issued against certain of these loans. 52/ The net income is not available by law for dividend distribution and is considered by the Corporation as a reserve for future deposit insurance losses and related expenses with respect to insured banks. 53/ Includes investigations and construction work in progress amounting to $649 million. 54/ Consists of net income from power operations of $672 million and net expense of nonrevenueproducing programs of $462 million. * Less than $500. r Revised.

156 52 Treasury Bulletin.FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS Section III Federal Credit Programs Table GAIII. Direct Sales and Repurchases of Loans Fiscal year or month Sales ExportImport Bank of the United States Sales (in millions of dollars) Housing and Urban Development Department Farmers Home Admini stration Sales / Government National Mortgage Association / Sales Office of Secretary 2/ Sales Small Business Administration Sales Veterans Administration Sales Repurchases Repurchases Repurchases Repurchases Repurchases Repurchases Repurchases *,275, ,070,337 2, o , a Nov.. Dec.. 970Jan.. Feb.. Mar.. Apr.. May.. June. July. Aug.. Sept. Oct.. Nov.. Fiscal 97 to date r r 62, * 90 I6r 4r ,043 / The secondary market operations of Federal National Mortgage Association were converted to private ownership effective Sept. 30, 968, pursuant to P.L (82 Stat. 536). Amounts reported exclude the following applicable to secondary market operations: net sales, 963 $547 million; net purchases, 964 $67 million, 965 $232 million, 966 $,838 million, 967 $,07 million, 968 $2,36 million, through Sept. 30, 968 $296 million. 2/ Includes college housing, elderly housing, and public facility loans. J/ Sales by fiscal years are on basis of actual figures shown in the Budget document and include initial sales of loans from credit insurance funds. The monthly figures are on basis of agency reports. * Less than $500,000. r Revised,

157 January CUMULATIVE TABLE OF CONTENTS February 970 through January 97 Issue and page number i Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. Jan. Article: Treasury financing operations... II II II II II II II II II II II II Federal fiscal Derations: Nummary of fiscal operations... Budget receipts by principal sources Chart Budget receipts by principal sources... Budget outlays by agencies Undistributed intrabudgetary transactions Budget outlays by major function Investment transactions of Government accounts in Federal securities (net) Trust funds transactions... Accountability of the Treasurer of the U. S. on an accounting basis... i 2 Detail of excise tax receipts *2... *2 3 Summary of internal revenue collections by States, calendar year Federal obligations Account of the Treasurer of the United States: Status of the Aecount of the Treasurer of the United ' States Analysis of changes in tax and loan account balances Summary of cash transactions through the Account of the Treasurer of the United States Gold assets and liabilities of the Treasury Monetary statistics: Money in circulation Federal lebfc: Summary of Federal debt Computed interest charge and computed interest rate on interestbearing public debt Interestbearing public debt Maturity distribution and average length of marketable interestbearing public dgbt Special public debt issues Interestbearing securities issued by Government agencies Participation certificates Debt subject to statutory limitation Status and application of statutory limitation Treasury holdings of securities issued by Government corporations and other agencies Public debt onerations: Maturity schedule of interestbearing marketable public debt securities other than regular weekly and annual Treasury bills outstanding Offerings of Treasury bills New money financing through regular weekly Treasury bills Offerings of public marketable securities other than 34 3 regular weekly Treasury bills Unmatured marketable securities issued in advance 34 refunding operations Unmatured marketable securities issued at a premium 39 or discount other than advance refunding operations L 4 37 Allotments by investor classes on subscriptions for public marketable securities Disposition of public marketable securities other than regular weekly Treasury bills Foreign series securities (nonmarketable) issued to official institutions of foreign countries Foreign currency series securities (nonmarketable) issued to official institutions of foreign countries United States savings bonds: Sales and redemptions by series, cumulative Sales and redemptions by periods, all series combined Sales and redemptions by periods, Series E through K Redemptions of matured and unmatured savings bonds Sales and redemptions by denominations, Series E and H combined Sales by States, Series E and H combined United States savings notes: Sales and redemptions by periods Ownershin of Federal securities: Distribution by classes of investors and types of issues Estimated ownership by private investors Treasury survey of ownership Treasury surveycommercial bank ownership (Continued on following page)

158 54 Treasury Bulletin CUMULATIVE TABLE OF CONTENTS February 970 through January 97 (Continued) Issue and page number Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. Jan. Market quotations on Treasury securities: Endofmonth closing quotations by issues ChartYields of Treasuiy securities Averaee yields of Ionsterm bonds: Average yields of Treasuiy, corporate and municipal bonds by periods Chart Average yields of Treasuiy, corporate and municipal bonds Exchange Stabilization Fund: Balance sheet Income and expense National bank reports: Income, expenses, and dividends for calendar year International financial statistics: U.S. reserve assets U.S. liquid liabilities to foreigners U.S. liquid liabilities to official institutions of foreign countries, by area Nonmarketable U.S. Treasuiy bonds and notes issued to official institutions of foreign countries U.S. position in the IMF U.S. net monetary gold transactions with foreign countries and international and regional organizations Capital movements between the United States and foreign countries: Liabilities to foreigners reported by banks in the 98 United States... Claims on foreigners reported by banks in the United States Liabilities to foreigners reported by nonbanking concerns * Claims on foreigners reported by nonbanking concerns in 04 in the United States the United States Transactions in longterm securities by foreigners reported by banks and brokers in the United States... Foreign credit and debit balances in brokerage accounts Foreign branches of United States commercial banks: Dollar and foreign currency assets of foreign branches Dollar assets of foreign branches Foreign currency assets of foreign branches Dollar and foreign currency liabilities of foreign branches... Dollar liabilities of foreign branches... Foreign currency liabilities of foreign branches... Dollar and foreign currency assets of foreign branches in United Kingdom... Dollar assets of foreign branches in United Kingdom... Foreign currency assets of foreign branches in United Kingdom... Dollar and foreign currency liabilities of foreign branches in United Kingdom... Dollar liabilities of foreign branches in United Kingdom.. Foreign currency liabilities of foreign branches in United Kingdom... Foreign currencies acquired by the U.S. Government without payment of dollars: Foreign currency transactions, summaiy and countiy uses Foreign currency transactions, U.S. uses and trust funds Financial operations of Government agencies and funds: Government corporations and other businesstype activities: Statements of financial condition Statements of income and expense Statements of source and application of funds Regular Governmental activities: Statements of financial condition... Federal credit programs: Direct sales and repurchases of loans... C*\ C*\ H Loans outstanding, excluding interagency loans Trust funds: Federal Oldage and Survivors Insurance Trust Fund Federal Disability Insurance Trust Fund Federal Hospital Insurance Trust Fund Federal Supplementaiy Medical Insurance Trust Fund * 88 Railroad Retirement Accounts Unemployment Trust Fund ;;; ;;; National Service Life Insurance Fund Investments of specified trust accounts