treasury bulletin - fraser · capitalmovements 88...

J UN ?,6 1972

TREASURY DEPARTIVIENT

AC4245

THE DEPARTMENT OF THE TREASURYFISCAL SERVICE, BUREAU OF ACCOUNTS

OFFICE OF THE COMMISSIONERWASHINGTON, D.C. 20226

OFFICIAL BUSINESS

POSTAGE AND FEES PAID

U.S. TREASURY DEPARTMENT

BUYAND

HOLDUNITEDS TAT E S

SAVINGS

BONDS

August 1968

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^— —'—

—

The Treasury Bulletin is for sale by theSuperintendent of Documents,

U.S. Government Printing Office, Washington, D.C. 20402Subscription per year $8.50 domestic, $11.00 foreign.

Single copy price varies.

August 1968

CONTENTS

Treasury financing operations H

Federal fiscal operations 1

Federal obligations 15

Account of the Treasurer of the United States 19

Monetary statistics 22

Debt outstanding 23

Statutory debt limitation 28

Public debt operations 29

United States savings bonds 59

United States savings notes. 65

Ownership of Federal securities 66

Treasury survey of ownership of Federal securities 68

Market quotations on Treasury securities 78

Average yields of long-term bonds 81

International financial statistics 83

Capital movements 88

Corporations and certain other business-type activities 113

Cumulative table of contents 114

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

II Treasury BaUetin

Treasury Financing Operations

August Financing

On July 31 the Treasury announced an offering for cash of

$5.1 billion, or thereabouts, to the public of 5-5/8 percent

Treasury Notes of Series B-1974., dated August 15, 1968, due

August 15, 197A, at 99.62, to yield about 5.70 percent. An

additional amount was to be allotted to Federal Reserve banks

and Government investment accounts. The proceeds were to be

used to pay off in cash |8,576 million of 4--V4- percent notes

and 3-3A percent bonds maturing August 15, 1968, and to raise

new cash. The subscription books were open only on Monday,

August 5. Subscriptions from the public totaled $23,569 mil-

lion of which $5,474 million was accepted. Federal Reserve

banks and Government investment accounts were allotted $4,811

million.

Interest is payable on the new notes semiannually on

February 15 and August 15. The notes are not subject to call

for redemption prior to maturity. Bearer notes, with interest

coupons attached, and notes registered as to principal and

interest were authorized to be issued in denominations of

$1,000, $5,000, $10,000, $100,000, $1,000,000, $100,000,000,

and $500,000,000.

Subscriptions were received subject to allotment and were

payable in cash or in Treasury securities maturing August 15,

1968, which were accepted at par, in payment or exchange, in

whole or in part. Payment was required to be made or complet-

ed on or before August 15, 1968. Payment by credit in Treas-

ury tax and loan accounts was permitted for 50 percent of the

amount of notes allotted.

Coupons dated August 15, 1968, on the maturing securities

in bearer form submitted in payment for the new notes, were to

be detached by holders and cashed when due. In the case of

registered securities submitted in payment, the final interest

due on August 15, 1968, was paid by Issuance of interest

checks in regular course to holders of record on July 15, 1968,

the date the transfer books closed.

Commercial banks could submit subscriptions for account

of their customers provided the names of the customers were

set forth in such subscriptions. Others than commercial banks

were not permitted to enter subscriptions except for their own

account. Commercial banks' subscriptions for their own ac-

count, were restricted in each case to an amount not exceeding

50 percent of the combined capital (not including capital

notes or debentures), surplus, and undivided profits of the

subscribing bank.

Subscriptions were received without deposit from banking

institutions for their own account. Federally-insured savings

and loan associations. States, political subdivisions or in-

strumentalities thereof, public pension and retirement and

other public funds, international organizations in which the

United States holds membership, foreign central banks and for-

eign States, and dealers v4io make primary markets in Government

securities and report daily to the Federal Reserve Bank of New

York their positions with respect to Government securities and

borrowings thereon. All other subscriptions were required to

be accompanied by payment of 10 percent (in cash or in the

maturing securities, which were accepted at par) of the amount

of notes applied for, not subject to withdrawal until after

allotment.

All subscribers were required to agree not to purchase or

to sell, or to make any agreements with respect to the pur-

chase or sale or other disposition of the notes subscribed for

at a specific rate or price, until after midnight August 5)

1968.

Commercial banks in submitting subscriptions were requir-

ed to certify that they had no beneficial interest in any of

the subscriptions they entered for the account of their cus-

tomers, and that their customers had no beneficial interest in

the banks' subscriptions for their own account. They were re-

quired to certify also that they had not made unsecured loans,

or loans collateralized in whole or in part by the notes sub-

scribed for, to cover amounts required to be paid when sub-

scriptions were entered.

As provided in the offering circular, the Treasury allot-

ted in full all subscriptions for $250,000 or less and all

subscriptions, $122 million, from States, political subdivi-

sions or instrumentalities thereof, public pension and retire-

ment and other public funds, international organizations in

which the United States holds membership, and foreign central

banks and foreign States where a statement was submitted cer-

tifying that the amount of the subscription did not exceed the

amount of Treasury securities maturing August 15, 1968, owned

or contracted for purchase for value at 4:00 p.m.. Eastern

August 1968 III

Treasury Financing Operations - (Continued)

daylight saving time, July 31, 1968. Other subscriptions were

allotted 18 percent with a minimum allotment of $250,000 per

subscription. Subscriptions from commercial banks for their

own account totaled $10,994. million and all other subscrip-

tions from the public totaled $12,575 million.

9-Month and One-Year Bills

On July 18 tenders were invited for $500 million, or

thereabouts, of 273-day Treasury bills, representing an addi-

tional amount of bills dated April 30, 1968, maturing April 30,

1969, and for $1 billion, or thereabouts, of 365-day Treasury

bills to be dated July 31, 1968, to mature July 31, 1969, both

series to be issued July 31. These issues were to refund an

equal amount of bills maturing July 31. Tenders were opened

on July 2/^.

Tenders received for the 273-day bills totaled $1,8-41 mil-

lion, of which $500 million was accepted, including $16 million

of noncompetitive tenders. The average bank discount rate was

5.3^2 percent.

Tenders received for the 365-day bills totaled $2,9/t5 mil-

lion, of which $1,001 million was accepted, including $39 mil-

lion of noncompetitive tenders. The average bank discount rate

was 5.310 percent.

13-Week and 26-Week Bills

Issues of regular weekly Treasury bills in July totaled

I $10.8 billion, replacing $10.4- billion of maturing bills and

raising $400 million cash. There were three 91-day issues and

one 90-day issue of $1.6 billion each and three 182-day issues

I and one 181-day issue of $1.1 billion each. Average rates for

: the new issues are shown in the following table.

13-week

(Additional amount of bills oforiginal maturity of 26 weeks)

Date of —

Additionalissue

1968July 5

11

1825

Originalissue

1968Apr. 4

11

1825

Approximateequivalentannualaveragerate 1/

26-week

5.4015.3685.4.67

5.293

1/ Bank discount basis.

Date ofissue

1968July 5

11

1825

Approximateequivalentannualaveragerate 1/

5.5885.4105.5575.367

Treasury Bills - General

Treasury bills are sold on a bid basis. The face amount

is payable without interest at maturity. They are issued in

bearer form only, and in denominations of $1,000, $5,000,

$10,000, $50,000, $100,000, $500;000, and $1,000,000 (maturity

value). Tenders are received at Federal Reserve banks and

branches.

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 13-week, 26-week, 9-month, 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 July totaled $648 mil-

lion, consisting of fourteen certificates of indebtedness and

two notes. Redemptions for the month totaled $1,067 million.

At the end of July, foreign series securities outstanding

totaled $1,582 million. (Details are shown on page 56.)

Foreign currency series securities issued in July consist-

ed of three certificates and one note. The certificates are

denominated in Swiss francs equivalent to $291 million, and the

note is denominated in Italian lire equivalent to $125 million.

Redemptions for the month totaled an equivalent of $226 mil-

lion. At the end of July foreign currency series securities

outstanding totaled an equivalent of $1,931 million, and were

denominated in Austrian schillings, Belgian francs, German

marks, Italian lire, Netherland guilders, and Swiss francs.

(Details are shown on page 58.)

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

Am^ust 1968

.FEDERAL FISCAL OPERATIONS.

Table 1. - Summary of Fiscal Operations

(In millions of dollars)

Fisnal yearor month

budget re'-'eipts, expenditures ar.d lendii-ig

Receipt-expenditure account

Netreceipts2/

(1)

Ketexpend-itures

(2)

Surplus ordeficit(-)

(l)-(2)

(3)

Loan account !

Loandisburse-ments

(4)

Loanrepay-ments

(5)

Net

lending

2/

(6)

Budgetsurplus or

deficit(-)

(3W6)

(7)

of financing - net transactions

Borrowings from the public Federal se -uritit-^s

Public d=btseciiritie

(8)

Agencysecurities

4/

(9)

Invept-ments ofGovern-menta -'counts

^ (10)

Specialnotes

_liil

Total bor-rowings fromthe public

(8)*(9)

-(lo)-(ll)

1959196019oli'-62

19o31"'^4

l<;'-5

19661967

19o8p

1969(Est.)

1967-June

JulyAugust . .

.

SeptemberOctober.

.

November.December.

1968-January.

.

February.March— .

April. . .

.

MayJune p. .

.

79,1J-'

92, ^-'-'

99, b?-

106, 60i

112,718ll6,87i

130.928U9,555r153,4?;

178,108

20,512

8,76411,602

U,9018,57910,88812,367

12,22012,08711,87019,04511,711

19.476

153,184172,956

182,797

14,86413,695

U,31115,19915,38514,486

7/

629

,471

-4,689

-2,644-1,608-2,4423,847

-3,6744,990

7,85'-

8,3107,8699,6219,64610,23710,91114,62817,799r

20,022

20,372

1,8901,7181,8671,6111,9702,070

5,2016,4276,6717,271

9,7919,6939,66210,79612,621rl4,08o

17,106

1,3011,0301,2561,1321,1141,086

-2,659-1,882-1,198-2,351

145-545

-1,249-3,832-5,178r-5,936

-3,265

-589-688-611

-479-856-984

2/

-8,807-25,407

-7,954

-3,233-2,296-3,0533,368

-4,5294,006

8,5631,625

2,6409,2307,659

S8535,5612,6336,314

21,357

11,877

-4,667

4,4165,213

464,6064,588-427

1,5965,296

-2,083-2,4895,310

-4,716

1,0431,647-232

1,4861415'1

694

4,0405,079r5,952

4,597

930

11116

-213

44224

1,371

1,434100287

1,357120902

-f34962583604

1,4242,8582,2o03,2839,0265,338

9,174

1,W5

-1352,068-513-308

265281

-932

1,536-432

5U2,634

360

1,361259316284

339405-126

354-482

1, ilv

-700

-3dl

-5

-5

-45

-U-220-20-19-5

-405

8,5782,0511,5099,8286,0373,1424,1213,0362,84823,090

8,000

-5,431

5,0433,161

3515,3614,348

708

3,9764,081

-1,345-1,6262,801-3,769

Fiscal yearor month

Means ol' financing - net transactions f, continued

)

Changes in cash and monetary assets (deduct)

Withingeneralaccount ofTreasurer,U.S.

(13)

WithotherGovernmentofficers

(14)

WithInterna-tionalMonetaryFund

(15)

Total

13)*(14)+(15)

(16)

Othermeans of

financing8''

"(17)

Totalbudgetfinancing

Cl2)-(16)*(17)

(18)

Selected balances, end of period

Generalaccount of

Treasurer,U.S.

(19)

Federal securities

Public debtsecurities

(20)

Agencysecurities

.a'

(21)

Invest-ments of

Govern-mentaccounts

(22)

Specialnotes4''

(23)

HeiQ bythe public

(20)+(2l)

(22)-C23)

(24)

1959196019611962

196319641965196619671968p

1969(Est.;

1967- June

JulyAugust. .

.

SeptemberOctober.

.

November.December.

1968- Janxiary.

.

February.March. . .

.

April. . .

.

MayJune p. .

.

-4,3992,654

-1,3113,7361,686

-1,0801,575-203

-4,648-1,065

-173

2,133

-208

-9441,729-794

59

-555

1,775

1,539-3,512

1,595-1,936

188

-3821

-110

132-58

41371258-5

945

332

14-259-258-171-255-367381

-447-342538

-95

.FEDERAL FISCAL OPERATIONS,

Treasury Bulletin

Table 2. - Budget Receipts by Principal Sources


Fiscal yearor month

Internal Revenue

Income taxes

Individual

Net

withheld

Corpo-ration

Totalincometaxes

Employment taxes

For old-age,disability,and hospitalinsurance

For rail-road re-

tirement

For un-employ-mentinsurance

Total

employ-menttaxes

Excise taxes

HighwayRevenueAct

Estateand gifttaxes

Deduct:

Refunds

Totalinternalrevenue

1959I9601961196219631964196519661967

1968p

1969 (Est.).

1967-June.

.

July.

.

AugSept.

.

OctNov. .

.

Dec

1968-Jan...

Feb. .

.

Mar. .

.

Apr ...

May. .

.

June p,

29,00131,67532,97836,2-16

38,71939,25936,84042,81150,521

57,268

67,300

4,20/4

3,8435,1644,2364,1715,3024,477

4,3525,801

5,5084,0455,5664,804

11,73313,27113,17514,40314,26915,33116,82018,48618,850

20,951

23,255

3,071

264211

2,864298162351

3,8001,100

6977,687

5392,977

18,09222,17921,76521,29622,33624,30126,13130,83434,918

29,889

35,200

9,328

946642

4,032913588

4,224

940650

4,4394,339

7637,412

58,326'37,125

67,91871,94575,32478,89179,79292,132104,288108,108

125,755

16,602

5,0536,01711,1325,3816,0519,052

9,0927,55210,64416,0726,86815,193

7,84010,02211,38011,46513,24315,27915,56418,65225,08826,111

30,494

2,441

1,917

2,4641,9961,3531,9371,470

1,4892,7441,9483,0503,2772.465

525607

571

564572

594636684793

859

957

74

12

129708

129

64

12

103

9315

14579

324341

345458948851622567

6o:>

507

659

1

2

1

1

1

2

82

498

8,68910,97012,29612,48714,76316,72316,82219,903

26,48327,576

32,110

2,517

1,9302,5952,0671,3622,0671,536

1,5833,3452,05c3,0683,4262,547

2,171

2,6422,9233, 08 J

3,40,'

3,6463,7824,0374,652

4,493

4.903

348

369463

355345383

339

366428311348420368

8,5399,2229,1419,67210,00510,30411,0119,3629,4619,819

10,028

945

873662733876928822

827

652851863901832

1,3531.626

1,9162,0352,1872.4162,7463,0943,014

3,076

3,440

196

207

308199

234193

210

238

204

235450363237

5.087

5,217

5,9485,2356,5367,1155.9917.2119.510

11,300

11.161

841

253

247190

175191168

4951,4002,8422,5562,428

357

74,54586,36988,24792,98599,14s104,867108, luJ

121,316138,389

141,772

165,075

19,768

8,1789,79714,2968,023

9,43111,791

11,61110,78211,24918,2459,551

18, 819

Fiscal yearor month

Customduties

RailroadUnemploymentInsuranceA,n

Deposit by States

Old-agesurvivors,disabilityand healthinsurance

Unemploymentinsurance

Insurancepremiums

Medicalinsurancefor theaged

Federalemployeesretirementcontribution!

Miscellaneous Receipts

Deposits ofearnings byFederalReservebanks

Allother

Deduct:Refunds

Netbudgetreceipts

1959196019611962196319641965196619671968p

1969 (Est.).

1967-June . .

.

July. .

.

AugSept. .

.

OctNov. . .

.

Dec

1968-JanFebMar. . .

.

Apr . . .

.

MayJune p.

9481,1231,0081,1711,2411,2841,4781.811

1,972

2,113

2,142

176

160178163

179

193160

181

158168191199183

161

155158

156152148145

140

142

20

1

11

241

11

24

1

10

241

1319

539708824947

1,0711,2531,3511,5542,257

2,571

3,003

a3

6753210

51816

15

48512

50

73617

1,7012,1672,3982,7293,0093,0423,0523,0672,917

2,605

2,800

29

10361363

38401

39

3629918

14582623

615

645

895

54

51

4451

53

4749

54

4646776068

768764845874944

1,0061,0791,128l,209r

1,3a1,380

106

114118100105108

105

14098107114114118

4911,093788718828

9471,3721,7131,805

2,091

2,450

156

149159

159155167168

180182

175201191205

121122146133239197268

235317r

282

294

170

12

1718

2018

20

8

2978282830

2620

28

31

36

3438

4571

75

72

9

106

5

6

5

5

3

7

5

7

7

79,19892,48994,38999,682106,602112,718116,874130,928149,555r

153,485

178,108

20,512

8,76411,60214,9018,579

10,88812,367

12,22012,08711,87019,04511,71119,476

Source; Data shown on this table are on the basis of budget concepts adoptedpursuant to recommendations of the President's Commission on BudgetConcepts, as used in the 1969 Budget document. Estimates are from the

1969 Budget document released January 29, 1968.Less than $500,000.Revised. p Preliminary.

August 1968

FEDERAL FISCAL OPERATIONS

INTERNAL REVENUE COLLECTIONS BY PRINCIPAL SOURCESFiscal Years 1954-1968

4Bil.

125

100

75

50

25

Treasury Bulletin


Table 3. - Budget Outlays by Agencies


August 1968.FEDERAL FISCAL OPERATIONS

Table 3. - Budget Outlays by Agencies - (Continued)


Treasury Bulletin

FEDERAL FISCAL OPERATIONS.

Table 4. - Undistributed Interfund Receipt Transactions

August 1968FEDERAL FISCAL OPERATIONS

Table 5. - Investment Transactions of Government Accounts in Federal Securities (Net)



Treasury Bulletin

Table 8. - Federal Old-Age and Survivors Insurance Trust Fund 1/

{In millions of dollars)

Fiscal yearor month

1937-53

1959196019611962

196319641965196619671968p

1969 (Est.)

1967-JulyAugustSeptember ....

OctoberNovemberDecember

1968-JanuaryFebruary

MarchApril

MayJune p

1937 to date p ?/.

Receipts

Total 2/

60,921.18,108.710,360.011,823.912,011.013,855.716,043.416,416.518,460.823,371.223,640.6

27,187.8 8/

1,665.32,658.11,616.31,159.12,059.31,559.3

998.62,598.9

1,410.32,471.5

3,159.12,284.9

215,012.8

Appropriations1^

54,667.3

7,084.09,192.410,537.210,600.012,351.2u, 335.114,572.416,473.520,731.620,626.9

23,602.0

1,578.02,027.01,641.01,126.41,595.01,212.0

995.62,117.41,466.5

2,392.02,538.0

Deposits by

States 4/

1,202.1

481.1650.3755.4869.6989.6

1,166.61,257.91,392.41,835.42,035.6

2,300.0

-.3606.7-36.3

.1

429.712.9

-9.1

458.1-64.2

43.1586.4

8.5

12,636.0

Net earningson investments

4,999.9543.0516.4530.2539.0512.4539.0583.1588.2725.3900.1

982.0

9.624.411.432.734.6

334.4

12.0

23.48.0

36.434.6

338.5

10,976.8

Expenditures other than investments

38,107.8

9,376.611,069.411,730.213,278.7

U,530.715,283.915,965.018,769.819,728.9 7/a, 623.

3

24,680.9 7/

1,663.0

1,654.11,647.31,653.01,711.01,683.3

1,683. 2r1,712.9

1,926.2

1,942.6

2.389.11,957.7

189,464.2

Benefitpayments ^

36,841.59,045.910,266.411,162.412,606.413,845.6U,578.415,229.018,072.218,886.620,736.6

23,711.0

1,629.9

1,626.51,613.1l,6a.01,649.71,633.5

l,635.8r1,674.51,890.9

1,909.7

1,913.31,913.9

181,331.1

Payments to Rail-road RetirementAccounts 6/

124.4600.4331.7360.8422.5402.6435.6443.8508.0437.6

512.0

437.6

4,067.7

Fiscal yearor month

Ej:penditures, etc. - (Continued)

Construc-tion 10/

Ailministrative expenses

Reimbursementto generalfund ly

Bureau ofOASI 12/

Reimbursement (-) fromFederal Disability In-surance Trust Fund

Assets, end of period

Net increase,

August 1968

FEDERAL FISCAL OPERATIONS,

Table 9. - Federal Disability Insurance Trust Fund

tin millions of dollars)

10

FEDERAL FISCAL OPERATIONS

Treasury Bulletin

Table 11. - Federal Supplementary Medical Insurance Trust Fund


Fiscal yearor month

Receipts

Total 1/ PremiumsFederalcontri-butions

Interestand pro-fits on

invest-ments

Expenditures other than investments

Benefitpayments

Adminis-trativeexpenses

Construc-

tion

Netincrease,or de-crease(-), in

assets

Assets, end of period

TotalInvest-ments

Un-expendedbalances

1967.

.

1968p.

1969 IKst. J.

1967-July. .

.

AugSept. .

.

OctNov ....

Dec

1968-JanFeb

Mar ....

April.

.

MayJune p.

1967 to date p.

1,28^.7

1,353.2

1,809.0

52.

i

150.362.9

117.1158.6

9i.3

119.2102.9

104.7

160.6131.9

97.7

2,637.9

646.7

698.5

895.0

52.343.953.656.951.151.8

57.851.1

51.3

81.166.3

70.5

1,3U5.Z

623.0

634.0

395.0

101.28.8

60.0107.333.0

61.151.553.1

73.

9

o5.213.9

1,257.0

15.020.1

1<^.0

^2

.2

.5

.2

.3

9.4

.2

.3

.3

.7

35.1

798.91,532.3

1,822.8

112.0123.1114.9124.8124.7110.9

126.3129.3147.0142.6

153.9122.3

2,331.2

664.31,389.6

1,656.0

104.4112.9

105.3114.0113.1110.4

115.0119.0132.1

126.8

129.5107.1

2,053.9

134.7142.6

164.0

7.610.2

9.610.811.6

11.810.414.9

15.8

24.415.2

435.8-179.1

-13.8

-59.527.2

-52.0-7.7

33.9-16.1

-7.7-26.4-42.3

IS.l-22.0-24.6

30':'. 7

435.8306.7

333.3

426.3453.5401.5393.3427.7411.7

404.0377.6335.2

353.3331.330t..7

300.7

478.8231.4

316.9

431.0455.5387.3394.1420.64O8.7

381.9359.4335.7

336.5323.0281.4

231.4

Source: See Table 1.

1/ Includes nominal amounts of other receipts.

p Preliminary.

6.9

25.3

16.5

-4.7-2.0

U.2-.3

7.13.0

22.118.1-.5

16.8

8.325.3

25.3

Table 12. - Railroad Retirement Accounts


Auqust 1968FEDERAL FISCAL OPERATIONS

11

Table 13. - Unemployment Trust Fund

12

FEDERAL FISCAL OPERATIONS,

Treasury Bulletin

Table 14. - National Service Life Insurance Fund


Aiiqust 1968 13

FEDERAL FISCAL OPERATIONS.

Table 15. - Investments of Specified Trust Accounts in Public Debt Securities, Agency Securities,

and Non-Federal Securities by Issues, as of June 30, 1968


14 Treasury Bulletin

.FEDERAL FISCAL OPERATIONS

Table 15. - Investments of Specified Trust Accounts in Public Debt Securities, Agency Securities,

and Non-Federal Securities by Issues, as of June 30, 1968 - (Continued)


Description of securities

Auqust 1968 15

FEDERAL OBLIGATIONS.

"Obligations" are the basis on which the use of funds is

controlled in the Federal Government. They are recorded at the

I -;int at which the Government makes a firm commitment to

quire goods or services and are the first of the four key

vents—order, delivery, payment, consumption—which charac-

terize the acquisition and use of resources. In general, they

insist 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 repre-

sents 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 trans-

action 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 capi-tal 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

Tatle 1, obligations that are incurred within the Government

are distinguished from those incurred outside the Government.

Tables 2, 3, and 4 show on]y those incurred outside.

Obligation data for the administrative budget fund

accounts were first published in the September 1967 Treasury

Bulletin and the trust fund accounts were first published

in the October 1967 Bulletin. Beginning with the April 1968

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

adopted pursuant to the recommendations of the President's

Commission on Budget Concepts.


FEDERAL OBLIGATIONS

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

by Object Class, May 31, 1968


Object class

Personal services and benefits

Personnel compensation

Personnel benefitsBenefits for former personnel

Contractual services and supplies

Travel and transportation of persons

Transportation of things

Rent, communications, and utilities

Printing and reproductionOther servicesSupplies and materials

Acquisition of capital assetsEquipmentLands and structuresInvestments and loans

Grants and fixed chargesGrants, subsidies, and contributions

Insurance claims and indemnitiesInterest and dividendsRefunds

OtherUndistributed U. 3, obligationsObligations incurred abroadUnvouchered

Gross obligations incurred 1/

Outside

30,612

2,3352,186

1,201

3,2991,669

19219,15621,614

11,5432,791

21,812

22,10035,65413,068

867

2605,901

17

196,274

Gross obligations incurred

566

2,360670172

5,1557,768

2,164237

795

1,1631,781

28,470

30,612

4,8232,186

1,767

5,6592,339364

24,31029,382

13,7073,02922,607

23,11635,65415,202

867

1,4247,682

17

224,745

Source: Reports on Obligations, Standard Forms 225, from agencies.1/ For Federal Budget presentation a concept of "net obligations

incuried" is generally used. This concept eliminates transactionswithin the Government and revenue and reimbursements from the publicwhich by statute may be used by Government agencies without appro-priation action by the Congress. Summary figiires on this basisfollow. (This data is on the basis of Reports on Obligations

received from the agencies prior to reports submitttd for Budgetpresentation and therefore may differ somewhat from the Budget

document.

)

Gross obligations incurred (as above) $224,745Advances, reimbursements, other income, etc.... S2.011Net obligations inciirred . . 172,733

Less than $500,000.

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

and Major Object Class, May 31, 1968


August 1968FEDERAL OBLIGATIONS.

17

a

ac

>OO

V

18

FEDERAL OBLIGATIONS-.

Treasury Bulletin

c

Scu

>oO

u

August 1968 19

.ACCOUNT OF THE TREASURER OF THE UNITED STATES.

Source and Availability of the Balance in the Treasurer's Account

The account of the Treasurer of the United States re-

flects not only budget receipts and expenditures but also

trust, deposit fund, and public debt transactions.

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 pay-

ments and funds for the purchase of Government securities.

In most cases the transaction involves merely the transfer of

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

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

Treasury, banks are permitted to deposit in these accounts

proceeds from subscriptions to public debt securities entered

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

customers.

The tax and loan account system permits the Treasury to

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

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

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

effect of its fluctuating operations on bank reserves and the

econoiny.

A detailed description of the Treasury's depositary system

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

Treasury for 1955, pages 275-28^.

Table 1. - Status of the Account of the Treasurer of the United States


End of

fiscal yearor month

Treasury operating balance

Availablefiinds in

FederalReserveBariks

Tax and loanaccounts in

specialdepositaries

GoldbalanceinTreasury

Totaloperatingbalance

Silverbalance,coinagemetal,coin, andcurrency

Unclassifiedcollections,etc.

In FederalReserveBanks in

process ofcollection

In other,

depositariesTotalassets

Liabilities

1/

Balance inaccount ofTreasurerof UnitedStates

1959196019611962

19631964196519661967

1968

1966-December.

1967-JuayAugust. . .

.

September

.

October. .

.

November.

.

December.

.

1968-January. .

.

February.

.

MarchAprilMayJune

July.

53550/

i08612806

939672766

1,3111,07-1

il6

l,3i01,051

778

6971,5811,123

1,1531,197

5811,035956

1,074

1,113

3,7446,4585,4538,815

10,3249,18010,68910,0504,2724,113

4,096

4,5523,9375, 80S

5,171

4,4074,329

5,9777,601

4,7275,3724,225

4,113

4,787

101106109121120120108

102112111

118

lU120107107126112

111

110

111111

111

111

111

4,3807,0685,9699,54811,25110,23811,46910,9175,6955,298

4,629

6,0075,1086,692

5,9756,115

5,564

7,2418,9085,4206,519

5,2935,298

6,012

306253179

U7136U5534775

1,159768

87?

1,1361,1491,1681,1361,0901,061

1,036967

934909

833768

705

63

58

6470

74 2/58

55

936286

45

4627

4657

47

45

124

49

3450

65

86

37

273

337222

303342234233370577352

275

215218229219222

233

263256

3316302U352

210

429375

335441313360320252266190

183

U7106201

155128

143

158180

129

335101

190

131

5,4518,0926,769

10,50912,11611,03612,61012,4077,7596,694

6,011

7,5516,6078,3367,5427,6017,046

8,82110,359

6,8478,4426,506

6,694

7,095

10087

75

7)

5,3508,0056,694

10,43012,11611,03612,61012,4077,759

6,694

6,011

7,5516,6078,3367,5427,6017,046

8,82110,359

6,8478,4426,5066,694

7,095

Source: Daily Treasury statement.

1/ Includes reserves and other deposits of the Board of Trustees, PostalSavings System, and uncollected items, exchanges, etc., throughDecember 1962. Effective January 1963 balances of the Postal SavingsSystem funds were transferred to deposit fund accounts and becamedemand obligations of the Treasury. Balances of these funds, there-

2/

fore, are no longer liabilities within the general account of the

Treasurer. Uncollected items, exchanges, etc., also previously shoxmas liabilities were combined with "Unclassified collections, etc."shown under assets.Amounts shown, beginning January 1963, are net of uncollected items,exchanges, etc. Previously these items were included under liabilities.

20

-ACCOUNT OF THE TREASURER OF THE UNITED STATES.Treasury Bulletin

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


Fiscal yearor month

Proceeds from sales of securities 1/

Savingsbondsandsavingsnotes 2/

Retire-mentplan andtax andlossbonds 2/

Taxantici-pationsecurities

Withheld

,

excise,and cor-poration 4/

Income (by

specialarrange-ment) 5j^

Totalcredits

With-drawals End o;'

period

During period

ligh Low Average

19591960196119621963

19U1965196619671968

1967- JulyAugust . . .

.

September.October. .

.

November .

.

December.

.

1968-January. .

.

February.

.

MarchAprilMay

June

July

2.668X , o7Q

2,7872,7252,6992,7602,6352,70i2,7832,673

222

232208

21A213201

272

2^1221

200

230

7,5817,78^7,6135,8982,963

2,3i07,368

7,6i39,538

3,212

2,470

3,853

13,16i7,9201,7883,7743,8302,0U

1,6271,1739,576

2,369

3,131

29,19033,05934,51137,51941,26743,58042,47548,47870,52490,791

5,5036,111^'

, 164

5,2045,8919,278

7,367

11,605

8,299

5,9196,0539,1426,5216,8359,92112,59814,5229,257

58,52057,49655,84256,43857,59558,27760,05074,69991,382

112,583

9,5818 712

^^3728,6306,1049,479

8,40410,97010,188

8,60910,722

11,812

12,383

62,99454,78256,34753,07656,08559,42158,54075,33897,160

112,741

9,3009,3287,5019,2676,8689,557

6,7579,34513,061

7,96411,869

11,924

11,709

3,7U6,4585,4538,815

10,3249,18010,68910,0504,272

4,113

4,5523,9375,8085,1714,4074,329

5,9777,6014,7275,372

4,2254,113

4,787

8,0556,4587,6538,889

10,32410,25710,87211,2749,9798,004.

5,8974,2306,3166,6704,7115,542

5,9778,0047,342

5,372

5,966

6,975

6,401

912

1,3901,161

1,5312,5351,5771,844447710

1,029

2,3601,7291,5282,8963,4791,266

1,6113,2123,3051,029

4,225

1,886

1,551

3,6334,1034,1514,4575,3254,7475,4314,3243,775

4,191

4,6913,1913,5815,4184,2223,368

3,8165,6364,7552,7665,146

3,697

4,486

Source: Office of Fiscal Assistant Secretary; figures are on basis of

telegraphic reports.

1/ Special depositaries are permitted to make payment in the form of adeposit credit for the purchase price of U.S. Government securitiespurchased by them for their own account, or for the accoiint of theircustomers who enter subscriptions through them, when this method ofpayment is permitted under the terms of the circulars inviting sub-scriptions to the issues.

2/ United States savings notes first offered for sale as of May 1, 1967.

2/ Retirement plan bonds first offered for sale as of January 1, 1963;

tax and loss bonds first issued in March 1968.2^/ Taxes eligible for credit consist of those deposited by taxpayers in

the depositary banks, as follows: Withheld income taxes beginning

March 1948; taxes on employers and employees under the Federal Insur-ance Contributions Act beginning January 1950, and under the RailroadRetirement Tax Act beginning July 1951; a number of excise taxesbeginning July 1953; estimated corporation income taxes beginningApril 1967; and to all corporation income taxes due on or afterMarch 15, 1968.Under a special procedure begun in March 1951, authorization was givenduring certain periods for income tax payments, or a portion of them,made by checks of $10,000 or more drawn on a special depositary bank,to be credited to the tax and loan account in that bank. This procedurewas discontinued in April 1967.Less than $500,000.

August 1968 21

.ACCOUNT OF THE TREASURER OF THE UNITED STATES

Table 3. - Summary of Cash Transactions through the Account of the Treasurer

of the United States


Fiscal yearor month

Net cash transactions other than borri-'wint.'

Deposits and withdrawals (budgetand other accounts)

Cashdepo::it5'

Cash with-drawals 1/

Excess of deposits,or withdrawals (-)

Clearingaccounts

2/

Total nettransactions

Plus: Net cash borrow-ing, or repayment of

borrowing (-)

Equals : Treasurer '

s

account balance, in-crease, or decrease (-)

19 ^9

1960196119621963

1964196;1966196?1968

1967- JulyAugust. . .

.


.

November .

.

December.

.

IS68-January. .

.

February.

.

MarchAprilMayJune

July

^1,61?

loj.giilU,45i121, 56i

125,464141,CK-5

163,036165,086

10,23213,23814,7879,45912,23212,130

13,284

l':,7i'

13,79614,103

19,597

1 3,'"'12

93,73693,81797,774112,188118,477124,047126,395U2,191164,591184,581

13,87318,41113,19716,08516,52912,289

14,558

17,51615,001

14,61418,46614,042

17,686

-12,124

1,044-877

-6,278-4,023-2,485

-931-1,095-1,555

-19,495

-3,641-5,122

1,590-6,627-4,248

-159

-1,274

-3,133-2,255

4,182-4,363

5,555

-3,784

-30i,

309-510

1,25''

1,03'-

-1,491-584

-1,075654

-2,095

-1,930993-397

493183

-581

-284

785

313-594-94

-932

725

-12,430

1,353-1,387-5,018-2,984-3,975-1,515-2,171

-901

-21,590

-5,621-4,129

1,193-6,134-4,065

-740

-1,558

-2,348-1,942

3,589-4,457

4,623

-3,060

8,032

1,30176

8,7554,6702,8953,0891,968

-3,74720,525

5,4133,186

5365,3404,124

185

3,3333,886

-1,570-1,9942,521

-4,435

3,461

-4,399

2,654-1,3113,7361,686

-1,0801,575-203

-4,648-1,065

-208-9441,729-794

59

-555

1,775

1,539-3,512

1,595-1,936

188

401

Source: Actual figures are based on the daily Treasury statement. Figxiresin the first four columns of this table may differ somewhat from thoseoriginally publisheti in the daily Treasury statement because of sub-sequent reclassification of certain transactions.

X/ Beginning with the February 1963 Bulletin, figures have been revised,as shown in daily Treasury statements beginning January 2, 1963, toexclude transactions of clearing accounts.

2/ Previously included \jnder cash withdrawals. See footnote 1.

Table 4. - Gold Assets and Liabilities of the Treasury


End of calendar year or month Gold assets 1/

Liabilities:Gold certificates

,

etc. 2,/

Balance of gold in

22

.MONETARY STATISTICS,

Treasury Bulletin

Table 1. - Money in Circulation

August 1968DEBT OUTSTANDING

23

Table 1. - Summary of Public Debt and Guaranteed Agency Securities


End offiscal yearor month

Total outstanding

Total 1/Publicdebt Z^

Guaran-teedsecuri-ties1/'

Interest-bearing debt

Publicdebt

Guaran-teedsecuri-ties

1/4/

Matijred debt and debt bearing no interest

Public debt

Special notes to

Inter-nationalMonetaryfund

Inter-nationalDevelopmentAssociation

Inter-AmericanDevelop-ment Bank

Other

i/'

Guaran-teedsecuri-ties 2/^

(matured)

1959

196019611962

1963

196i1965

19661967

1968

1966-Deceraber .

.

1967-JulyAugust. . .

.


.

November .

.

December.

.

1968-January..

.

February.

.

MarchAprilMayJune

July

iS.i,817

286,471289,211298, 6i5306,466312,526317,854

320,369326,733348,147

329,814

331,158336,374336,418341,027345,634345,208

346,813352,107350,033347,545352,863348,147

351,652

284,706286,331288,971298,201305,860311,713317,274

319,907326,221347,578

329,319

330,637335,850335,896340,502345,090344,663

346,259351,556349,473346,984352,294347,578

351,078

111

140240

444607

813590

462512569

495

521524

523525

544545

554552

561561569

569

574

281,944283,380285,911294,886302,559308,169313,702

315,892322,7983U,969

325,516

327,653332,933332,968337,566342,114341,738

343,365348,865

346,6963U,176349,471344,969

348,514

281,833283,241285,672294,442301,954307,357313,113

315,431322,286344,401

325,021

327,132332,409332,U7337,041341,570341,194

342,312348,314

346,136343,615348,902344,401

347,940

110

139

240

444605812589460'

512568

494

521524521524

544545

553551560561568568

573

2,8733,0903,3003,7593,907

4,3574,163

4,4773,9353,178

4,298

3,5053,4a3,4513,4613,5203,470

3,4483,242

3,3373,3703,3923.178

3,138

2,8733,0903,2993,7593,9064,3564,161

4,4763,9353,178

4,298

3,5053,4413,U93,4603,5203,469

3,U73,242

3,3373,3703,3923,178

3,138

476

445349438310295292

308284254

?.bh

241178

192209270260

253267226275300

254

240

1,979

2,2382,4962,6672,9223,2893,167

3,6143,3282,209

3,669

2,9472,9472,9422,9372,9372,892

2,878

2,6582,6382,6192,6142,209

2,197

58

115

129

142133

64

25

55

125

150

150

132

417407396

434420480414

359123

715

333

31631o

315

n5313

317

31"

317472

476

478715

701

• Source: Daily Treasury statement. 3/1/ Includes certain debt not subject to statutory limitatio.n. ^

Includes debt incurred for advances to certain wholly owned Government

agencies in exchange for which their securities were issued to the 5/Treasury (see Table 6)

.

*

Held outside the Treasury.Consists of Federal Housing Administration debentures and beginningJuly 1959 D. C. Armory Board stadium bonds.For current month detail, see "Statutory Debt Limitation," Table 2.Less than $500,000.

Table 2. - Computed Interest Charge and Computed Interest Rate on Federal Securities

(Dollar amounts in millions)

End of

fiscal yearor month

Total interest-bearing securities

Amountoutstanding

Public debtand guaran-teed securi-ties 1/

Publicdebt

Computed annualinterest charge

Public debtand guaran-teed securi-ties 1/

Publicdebt

Computed annual interest rate

Totalinterest-bearingsecuri-ties

Public debt

Totalpublicdebt

Marketable issues

Total2/

Bills

2/

Certifi-

catesTreasurybonds

Non-market-ableissues 4/

Specialissues

Guar-anteedsecuri-ties

1/

1959196019611962

196319641965196619671968

1966-December.

.


.

September

.

October. .

.

November.

.

December.

.

1968-January—February.

.

MarchAprilMayJune

July

281,944283,380285,911294,886302,559308,169313,702315,892322,798344,969

325,516

327,653332,933332,968337,566342,114341,738

343,365348,865346,696344,176349,4713U,969

348,514

281,833

283,241285,672294,442301,954307,357313,113315,431322,286344,401

325,021

327,132332,409332,447337,0413a, 570341,194

342,812348,3U346,136343,615348,902

3U,401

347,940

8,00''

9,3208,7699,53410,14110,93111,48812,53312,972: 5,426

13,665

13,24113,60713,69714,01714,478U,574

U,74315,13315,05815,03315,55615,426

15,653

8,066

9,3168,7619,51910,11910,90011,46712,51612,95315,404

13,646

13,22213,58813,67813,997U,458U,554

14,72215,112

15,03715,011

15,53415,404

15,631

2.867

3.2973.0723.2403.3613.5613.6783.9884.0394.499

4.225

4.0634.1094.1374.1774.2584.292

4.3224.3654.3714.3954.480

4.499

4.521

2.867

3.2973.0723.2393.3603.5503.6783.9884.0394.499

4.225

4.0634.1094.1374.1774.2584.292

4.3224.3664.3714,3954.480

4.499

4.521

2.891

3.4493.0633.285

3.4253.5593.8004.1344.1654.757

4.459

4-1964.2534.2934.3484.4574.505

4-5524.6094.6154.644

4.756

4.757

4.784

3. 316

3.8152.5842.9263.0813.7294.0544-8454-3505-711

5.538

4.4524.5324.6684.8064.9805.135

5.2595.3245.360

5.479

5.638

5.711

5.740

2.842

4.7213.0733.3773.283

4.8515.250

5.250

5.250

3.3044.0533.7043.6803.9213.8543.8424.3214.7645.294

4.584

4.7634.9104.9104.9375.0735.073

5.073

5.U15.U05.1515.294

5.294

5.294

2.619

2.6392.8293-1223.3443.4713.6423.6553.6863.681

3.666

3.6863.6873.6873.6873.6893.689

3.689

3.6873-6873.687

3.681

3.681

3.681

2.925

3.2193.3303.3643.4123.4623.4933.7133.7453.876

3.742

3.7613.7643.7713.7823.8213.817

3.822

3.8303.8373.850

3.8633.876

3.873

2.6942.7722.8032.8913.0033.2383.3723.6933.8544.133

3.765

3.8633.9073.9053.9073.922

3.932

3.905

3.9303.930

3.962

4.0124.133

4.139

2.628

2.6813.1443.5003.6583.7823.6603.6323.7563.818

3.726

3.7653.7663.7703.7743.779

3.786

3.792

3.7953.803

3.8063.8173.818

3. 809

Footnotes at end of Table 5.

24

DEBT OUTSTANDING,Treasury Bulletin

Table 3. - Interest-Bearing Public Debt

(in millions of dollars)


Totalinterest-bearingpublicdebt

Totalpublic

Publ ic issues

I4arketable

TotalCertif-icates

Treasurybonds 2^

onmarketable

Total savingsbonds

Treasurybonds,invest-mentseries

Depos-itarybonds

Foreignseriessecuri-ties 2/

Foreigncurrencyseriessecuri-ties 2/

other

4/

Specialissues

1959196019611962

1963

196/1

1965196619671968

1966-December .

.

1967-July

August. , .

.

September

.

October . .

.

November .

.

December.

.

1968-January. .

.

February.

.

MarchAprilMayJune

July

281,833

283,2il285,672

29i,U2301,954307,357313,113315, i31322,2863U,401

325,021

327,132

332,409332,U7337,041341,570341,194

342,812

348,314346,136343,615348,902344,401

347,940

237,078

238,342240,629249,503257,153

260,729264,463264,311266,131284,874

273,028

270,924274,100274,707279,874284,198283,960

286,882291,072289,425286,658289,746284,874

289,055

178,027

183,845187,148196,072

203,508

206,489208,695209,127210,672226,592

218,025

214,968

218,258218,637223,271226,081226,476

229,285233,273231,651228,718231,761226,592

230,977

32,017

33,41536,72342,03647,230

50,74053,66554,92958,53564,440

64,684

62,844

63,34463,74668,85469,45369,870

72,706

72,90571,30068,58969,58764,440

68,858

33,84317,650

13,33813,54722 , lb9

1,6525,610

5,919

5,611

27,314

51,48356,25765,46452,145

67,28452,54950,64949,10871,073

48,271

49,119

57,54957,55357,10461,36061,362'

61,36566,71966,72766,53471,07071,073

71,075

84,85381,29780,83075,025

81,96488,464102,481101,89797,41891,079

99,151

97,39497,36497,33897,31395,26895,244

95,21493,64993,62393,59691,10491,079

59,050

54,49753,48153,43153,645

54,24055,76855,18355,45958,282

55,003

55,955

55,84256,07056,60358,118

57,484

57,59757,79957,77457,93957,98558,282

91.044 58,078

50,503

47,54447,5U47,607

48,31449,29950,04350,53751,21351,712

50,752

51,32351,37651,41351,51051,58851,581

51,58951,62951,64251,64851,69351,712

51.732

8,3656,7835,8304,727

3,921

3,5463,2562,6922,5892,516

2,656

2,5772,5712,5682,5602,5592,555

2,5532,5522,5452,5272,5172,516

2,514

183170

117138

103

103

59

444530

45

46

4646

444444

31

3131

31

3130

30

860

648

3921,132817624

2,001

593

894742923

1,2262,5871,944

1,8521,9951,8441,8761,8662,001

1,582

75

630832

1,137957890

1,740

860

1,016

1,0151,015

1,1391,2001,200

1,3901,3901,4901,6151,6151,740

1,931

19

25

29

68

14113797282

96

100

92104

123

141160

182201221242

263282

289

44,756

44,89945,04344,93944,80146,62748,65051,12056,15559,526

51,993

56,209

58,30957,73957,16757,37257,234

55,93057,24256,71156,957

59,15659,526

58,885


1/ Includes $50 million of Panama Canal bonds for fiscal years 1959-60.

2/ Consists of certificates of indebtedness. Treasury notes beginning

January 1963, and Treasury bonds beginning September 1964, sold to

foreign governments for U. 3. dollars.

2/ Consists of the dollar equivalent of Treasury certificates of indebted-

ness ; Treasury bonds beginning October 19b2 ; and Treasury notes beginning

November 1966 issued and payable in designated foreign currencies.

V Includes Treasury bonds. Rural Electrification Administration series

beginning July 1960; retirement plan bonds beginning January 1963;

Treasury certificates beginning June 1963; Treasury bonds beginning

January 1964; and U. S. savings notes beginning May 1967.

Table 4. - Maturity Distribution and Average Length of Marketable Interest-Bearing Public Debt 1/


End of

fiscal yearor month

Amountoutstanding

Maturity classes

Within1 year

1 - 5

years5 - 10years

10 - 20years

20 yearsand over

Average

August 1968DEBT OUTSTANDING.

25

Table 5. - Special Public Debt Issues

Un millions of dollars)


ExchangeStabili-zationFund

FederalDepositInsuranceCorpora-tion

FederalDisabilityInsuranceTrustFund

Federalhomeloanbanks

FederalOld-AgeandSurvivorsInsuranceTrust Fund

FederalSavingsand LoanInsuranceCorporation

Federalemployees'retirementfunds

Govern-mentLifeInsuranceFund

High-wayTrustFund

NationalServiceLifeInsuranceFund

Rail-roadRetire-mentAccounts

Unen5>loy-

mentTrustFund

Other

1/

1959196019611962

196319641965196619671968

1966-Deceraber .

.

1967-JulyAugust. . ,

.


.

November.

.

December.

.

1968-January. .

.

February.

.

MarchAprilMayJune

July

,756,899

,0i3

,939,801

,627650

,120

,155,526

993

56,20958,30957,73957,16757,37257,23a

55,930

57,2i256,71156,95759,15659,526

58,885

108292232560

833722

891

1,0521,096900919800836

903922

6528^0781722

6296945565002602703125785

174

80

84

8487

8484

155148

148153

173174

175

1,5332,0172,2992,3042,1651,9031,5631,1501,3761,891

1,126

1,4041,4701,488

1,4841,4611,419

1,3161,409

1,5131,6241,784

1,891

1,985

165

59

50

7437282

10092452

152

929

52

52

50

52

5252

5252

5252

52

152

52

17,22716,41316,20015,074U,221U,79915,261U,40317,84019,221

15,099

17,82019,08718,66818,48518,56618,610

17,58218,28418,16718,37919,44119,221

19,173

116104

13818298332287223

36

93

1018

3095

10036

25

8,608

9,39710,41411,38212,43813,530U,57715,18915,56915,668

15,324

15,63915,70415,80615,82615,84215,804

15,81615,85815,88715,91315,32315,668

15,726

1,1271,107

1,0711,0281,003956933938814876

825

897894891886883877

873

868862

856850876

4291

234436678609265238

722978

29

631737711512

550508

544730733718

1,023978

902

5,7425,8035,7595,8045,7U5,7835,9096,1135,7445,856

5,868

5,7735,7765,8125,8195,8405,804

5,7265,716

5,7065,682

5,6735,856

5,843

3,a73,5863,5043,3162,7862,9693,1233,277

3,3393,303

2,886

3,2533,2903,2373,1653,1603,088

2,9712,930

2,8962,8193,2763,303

3,245

5,6365,5804,6254,6574,8034,9315,7997,0757,7858,807

7,735

7,6978,2428,2958,178

8,4U8,501

8,2748,5608,3288,0768,8098,807

8,685

126

138192182

155172287974

1,9941,8a

1,188

1,9071,8781,7981,7561,6901,651

1,7071,7471,7371,7521,8711,841

2,206


1/ Consists of: Postal Savings System through 1962: various housinginsurance fiinds; Veterans' Special Term Insurance Fund; Veterans'

Reopened Insilrance Fund beginning May 1965; Federal Hospital InsuranceTrust Fund beginning February 1966; Federal Supplementary MedicalInsurance Trust Fund beginning July 1966; and Export-Import Bank of the

United States beginning February 1967.

Footnotes to Table 2

Source: On the basis of the daily Treasury statement.Note: The computed annual interest charge represents the ainount of

interest that would be paid if each interest-bearing issue outstand-ing at the end of each month or year should remain outstanding for ayear at the applicable annual rate of interest. The charge is com-puted for each issue by applying the appropriate annual interest rateto the ainount outstanding on that date (the ainount actually borrowedin the case of securities sold at a premium or discount, beginningwith .May I960). The aggregate charge for all interest-bearing issuesconstitutes the total computed annual interest charge. The averageannual 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 31,

1958, 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.

1/ Guaranteed securities included are those held outside the Treasury.

2/ Total includes "Other bonds" through 1960; see Table 3.

^ Included in debt outstanding at face amount, but discount value is

used in computing annual interest charge and annual interest rate.

4/ On United States savings bonds the rate to maturity is applied against

the amount outstanding.

26

DEBT OUTSTANDINGTreasury Bulletin

Table 6. - Treasury Holdings of Securities Issued by Government

Corporations and Other Agencies


Knd of

fiscal year

or month

195919bO19611962

1963

196A1965 "196619671968

1966-Deceraber.

.


.

September

,

October. .

.

November.

.

December.

.

1968-January . .

.

February.

.

MarchAprilMayJune

July

25,34325,6362d, Oil

28,63-1

29,16629,2il

28,35i26,96424,61127,040

26,030

23,16224,18725,21925,37724,71724,947

24, 716

25,51026,39226,633

27,46127,040

24, 529

AgencyforInter-nationalLievelop-

ment 1/

1,1641,1381,1071,062

807

735712

689662638

675

662662662662

662

652

648648

648648

648638

634

Agriculture Department

CommodityCreditCorpo-ration

12,87412,70411,53412,99J3

13,59913,99013,11111,76810,09711,989

9,704

8,5199,2099,65010,0038,8909,772

9,95610,252

10,88611,413

11,79211,989

9,153

RuralElectri-ficationAdminis-tration

2,9233,1553,3323,4843,6573,8284,0754,2344,5184,770

4,360

4,5184,5184,6184,6184,6864,597

4,6944,6944,7944,794

4,8944,770

4,770

Secretary:Farmers

'

HomeAdminis-trationprograms

2/

323369

456854

1,0271,1701,2351,4361,4151,454

1,403

1,4311,4341,4281,4281,4321,421

1,4341,428

1,3931,409

1,U51,454

l,42t.

Export-ImportBank oftheUnitedStates

2/

1,9371,6361,^81,8301,476830513178

362

371

48204251429

455

412618864807

918

362

501

Housing and Urban

Development Department

Secretary

730977

1,2131,5672,0052,3022,7533,1332,6701,937

3,629

2,6702,7372,7372,7372,8022,452

1,972

2,0i72,0471,862

1,862

1,937

1,937

FederalNationalMortgageAssoci-ation ^

2,3512,3383,2023,1672,7162,3931,8991,4661,3291,950

1,864

1,4381,6842,0321,7871,9221,701

1,6851,9021,8311,770

1,968

1,950

2,138

Other

6/

2729

32

32

25

10

2510

25

25

25

25

2525

25

25

25

15

1010

10

Tenn-esseeValleyAuthor-ity

50

85

95100100

100

100

100100100100100100

100

100100

100100

100

100

Transpor-

tationDept.

SaintLawrenceSeawayDevelop-mentCorp.

112

118121

121

123123

124125

125

129

125

125125

125125

125125

125

126127

129129

129

129

Veterans'Adminis-tration:Directloanprogram

9301,1801,3301,5301,7301,7301,7301,7301,730

1,730

1,730

1,7301,7301,7301,7301,7301,730

1,7301,7301,7301,7301,7301,730

1,730

UnderDefenseProduc-tionActof 1950

2/

1,9501,9701,9641,9761,9232,0192,0562,0231,850

1,854

1,965

1,8541,8241,8151,8171,8171,817

1,832

1,835

1,8471,8491,849

1,854

1,874

Other8/

22

2122

22

29

3551

72

90

118

909193

9496100

103106

110113116118

123


Note : These securities were issued to the Treasury in exchange for ad-vances by the Treasury from public debt receipts under congressionalauthorization for specified government corporations and other agenciesto borrow from the Treasury. Further detail may be found in the 1967Annual Report of the Secretary of the Treasury, pages 769-72, and the1967 Combined Statement of Receipts, Expenditures and Balances of theUnited States Government, pages 551-3.

1/ And predecessor agencies. Beginning fiscal 1957 figures exclude notespreviously issued by the Administrator in connection with informationalmedia giiaranties. The obligation for these notes was assumed by theDirector of the United States Information Agency, pursuant to the actapproved July 18, 1956 (22 U.S.C. 1442), and the notes together withothers issued for the same purpose are included in "Other."

2/ Farm housing and other loan programs, and Agricultural Credit InsuranceFund (formerly Farm Tenant Mortgage Insurance Fund).

^ Includes securities transferred from the Reconstruction Finance Corpo-ration.

4/^ Consists of notes issued to borrow for: The urban reneiral program(formerly slum clearance program); college housing loans; and publicfacility loans.

^ Consists of liabilities taken over by the Association from the

Secretary in accordance with the act approved August 2, 1954, and

notes issued by the Association \inder authority of that act (12 U.S.C.1719 (c), 1720 (d), and 1721 (d)) and also securities transferredfrom the Reconstruction Finance Corporation.

6/ Public Housing Administration 1959-1963; Federal Housing Administra-tion beginning January 1966.

7/ Consists of notes of: The Administrator, General Services Administra-tion, for defense materials procurement; the Secretary of Agriculture;the Secretary of Interior (Defense Minerals Exploration Adminis-tration); the Export-Import Bank of Washington through March 1962;and the Secretary of the Treasury.

8/ Consists of notes issued by the: United States Information Agency forinformational media guaranties (see footnote 1); Secretary of Commerce(Maritime Administration) for the Federal Ship Mortgage InsuranceFimd, fiscal years 1959-61 and 1963-65, beginning March 1963; VirginIslands Corporation beginning fiscal 1960; District of ColumbiaCommissioners for the Stadium Sinking Fund beginning June 1962

;

Secretary of the Interior (Bureau of Mines) for development andoperation of helium properties beginning May 1964, and (Bureau ofCommercial Fisheries ) for Federal Ship Mortgage Insiirance Fundbeginning January 1966-May 1967; and revenue bonds for SmithsonianInstitution (John F. Kennedy Center Parking Facilities) beginningJuly 1968.

August 196827

.DEBT OUTSTANDING,

Table 7. - Interest-Bearing Securities Issued by Government Agencies

(l:. millions of dollars)


iotal

DefenseDepartment

Familyhousingmortgages

Housing and Urban Development Tepartrent

FederalHousingAdministration

Federal National Mortgage Assoc i -^tir'n

ParticipationSales Fund

Secondarymarketoperations

Other

Other indcfpendert agencies

Export-ImportBank of the

UnitedStates

Farm CreditAdministration

Banks for

cooperatives

19591960196119621963

1964196519661967

1968p

1967-June

JulyAugust. . .

.


.

November .

.

December.

.

1968-January. .

.

February.

.

MarchAprilMayJune p. . . .

5,0486,6956,4637,9488,0898,6409,33413,37418,455r

24,407

18,455r

13, 56!^

18,58218,36818,81018,83520,206

21,64021,74122,02723,38423,505r

24.407

1,0451,4971,8532,1512,2342,2472,1812,1092,036r

1,951

2,036r

2,0332,0272,0212,0152,0072,001

1,9951,9881,9821,976l,971r1,951

110

139220

424586793570

441492548

492

501

504503505524525

534531541541549548

3002,1104,8307,900

4,830

4,7954,7954,7954,7954,7655,740

6,9906,9906,9907,9707,9707,900

1,2902,2852,1992,5581,961

1,6991,7973,2694,079

5,887

4,079

4,0704,0503,9274,4334,5434,919

5,0875,1495,4825,6505,6485.887

797797

300520827

1,0221,385-'^,164

2,571

2,164

2,1612,1332,0662,0541,9651,975

1,9671,8421,7001,8551,8872,571

315

3'A387467469525709881

1,072

1,244

1,072

1,102

1,1241,1241,1671,2271,^83

1,2831,3571,3941,3591,3121,2a

28 Treasurij Bulletin

.STATUTORY DEBT LIMITATION-

The Second Liberty Bond Act (31 U.S.C. 757b), as amendedby the Act of June 30, 1967 (Public Law 90-39), provides that

the face amount of obligations Issued under authority of thatAct, and the face amount of obligations guaranteed as toprincipal and interest by the United States, shall not exceedin the aggregate $358 billion outstanding at any one time.

In addition, the Act provides that the face amount ofbeneficial Interests and participations Issued under section302(c) of the Federal National Mortgage Association Charter Act

(12 U.S.C. 1717(c)) during the fiscal year 1968 and out-

standing at any time shall be added to the amount otherwise

taken into account in determining whether the requirements of

the above provisions are met.

Public Law 90-39 also provides that effective July 1,

1968, and each July 1 thereafter, the public debt limit shill

be temporarily increased by #7 billion dxiring the period be-ginning on such July 1 and ending on June 29 of the succeed-ing calendar year.

Table 1. - Status Under Limitation July 31, 1968


The statutory debt limit established by the Second Liberty Bond Act, as amended

(31 U.S.C. 757b)

Amounts outstanding subject to statutory debt limitation:

U.S. Government securities issued under the Second Liberty Bond Act, as amended.

Guaranteed debt of U.S. Government agenciesParticipation certificates (12 U.S.C. 1717(c))

Total amount outstanding subject to statutory debt limitation

Balance issuable under limitation

350,438574

3,250

365,000

1U,7J8

Table 2. - Application of Statutory Limitation July 31, 1968


ClassificationTotaloutstanding

Public debt:

Interest-bearing debt:

Public issues—marketable:Treasury bills 68,858Treasury notes 71 , 075Treasury bonds 91,0.V,

Total public issues—marketable 230 ,977

Public issues—nonmarketable

:

'

Certificates of indebtedness:Foreign series ^60Foreign currency series ^07

Treasury notes:Foreign series ^ 008Foreign currency series

2. 524Treasury bonds:Foreign series 114

Treasury certificates]^/

U.S. savings bonds52^ Y^2

U.S. savings notes 226U.S. retirement plan bonds 27Depositary bonds 3qTreasury bonds, R.E.A. series 23Treasury bonds , investment series

2 51 /

Total public issues—nonmarketable eg Qng

Special issues to Government agencies and trust funds 58^885

Total interest-bearing debt 3^7 q^Q

Matured debt on which interest has ceased 240Debt bearing no interest: '

^=Special notes of the United States:

International Monetary Fund series 2 197Mortgage Guaranty Insurance Company Tax and Loss Bonds '

/U.S. savings stamps ............[ KgExcess profits tax refund bonds .1.. ..... ..... . .......... .....[ 1U.S. notes ^2iDeposits for retirement of national bank and Federal Reserve bank notes 79Silver certificates 225Other debt bearing no interest

'

-1

1

Total debt bearing no interest 2 898

Total public debt IsToTs"Giiaranteed debt of U.S. government agencies:

Interest-bearing debt cr^-.

Matured debt on which interest has ceased ^^

Total guaranteed debt of U.S. government agencies .7/

Total public debt and guaranteed debt 351 6?2~

Deduct debt not subject to limitation oO~Add participation certificates

3 250Total subject to limitation

354 262~

Source: Daily Treasury statement. * Less than $500,000.

August 1968 29

.PUBLIC DEBT OPERATIONS.Table 1. - Maturity Schedule of Interest-Bearing Public Marketable Securities

Outstanding July 31, 1968

Other than Regular Weekly and Annual Treasury BUls


.PUBLIC DEBT OPERATIONS.Table 1. - Maturity Schedule of Interest-Bearing Public Marketable Securities

Outstanding July 31, 1968

Other than Regular Weekly and Annual Treasury Bills • (Continued)(,lii millions of aollars)

August 1968.PUBLIC DEBT OPERATIONS,

31

Table 2. - Offerings of Treasury Bills

(Amounts in millions of dollars)

Issue date

Description of new issue

MaturityNumber of

days tomaturity 1/

Amount of

bidstendered

Totalamount

Amount of bids accepted

On competi-tive basis

On noncompeti-l Intive basis 2^' 11 exchange

Amountmaturing on

issue dateof newoffering

Total of

unmaturedissues out-standing afternew issues

Regular weekly

:

(13-week and 26-week)

1968- Apr. 4

Apr. 11

Apr. 18

Apr. 25

May 2

May 9

May 16

May 23

May 31

June 6

June 13

June 20

June 27

July 5

July 11

July 18

July 25

Tax anticipation :

1968-July 11

9-month and one-year :

1967- July 31

Aug. 31

Sept. 30

Oct. 31

Nov. 30

Deo. 31

1968-Jan. 31

Feb. 29

Mar. 31

Apr. 30

May 31

June 30

July 31

•1968-July

Oct.

July 11

Oct. 10

July 18

Oct. 17

July 25

Oct. 2A

Aug.

Oct.

Aug.Nov.

1

31

8

7

Aug . 15

Nov. UAug. 22

Nov. 21

2929

Aug.Nov.

Sept.

Dec.

Sept. 12

Deo. 12

Sept. 19

Dec. 19

Sept. 26

Dec

.

26

2

10

Oct.

1969-Jan.

'l968-0ct.

1°69-Jan. 9

1968-Oct. 171969-Jan. 16

1968-Oct.1969-Jan.

2423

(1969-Mar . 24Apr. 22

l968-Apr. 30July 31

31

31MayAug.

June 30Sept. 30

July 31Oct. 31

Aug. 31Nov. 30

Sept. 30Dec. 31

Oct. 311969-Jan. 31

fi968-Nov. 301969-Feb. 28

fi968-Dec. 31|1969-Mar. 31

Jan. 31

Apr. 30

Feb. 28

May 31

Mar. 31June 30

Apr. 30

July 31

92

1S2

91182

91182

91182

91

182

91182

91182

91182

90182

91182

91182

91182

91182

00

181

91182

91182

91182

256285

274366

274366

272

366

274366

275366

272366

274366

275365

274365

276365

273365

273365

273

365

2,178.91,601.0

2,394.71,883.5

3,256.12,492.5

2,614.02,328.1

2,704.01,966.2

2,493.62,176.3

2,416.82,064.9

2,526.:2,149.8

2,291.62,154-2

2,409.82,365-3

2,628.22,041.0

2,590.11,968.5

2,375-21,967-9

1,981.4

2,637.11,995-7

2,625-32,475.7

2,868.62,365.4

4,210.34,025.9

1,196.72,587.5

1,297.31,901.1

1,255-51,740.7

1,282.02,073.6

1,263.71,767-0

1,137.11,492.9

1,209.21,604.2

1,348.31,519-5

1,119.71,522.7

1,439-52,304-6

1,140.21,861.3

1,200.22,205.1

1,841.2

2,9U.9

1,600.41,000.4

1,600.51,000.5

1,602.51,102.6

1,601.01,100.7

1,600.41,100.1

1,600.31,101.6

1,600.01,101.1

1,600.71,100.1

1,600.01,099-8

1,600.4

1,099.4

1,600.51,100.1

1,600.51,100.9

1,600.01,105.0

1 ,601 .1

1,100.5

1,601.51,102.0

1,601.11,100.6

1,601.11,100.2

2,014.82,003.0

500.31,000.6

500.71,000.3

500.01,000.2

500.51,001.8

500.21,000.3

500.2999.9

500.21,000.1

500.31,001.8

499-51,000.1

500.41,000.8

500.41,002.2

500.31,001.7

500,5

1,001.0

1,331.1882.2

1,288-5866.2

1,325-8961-8

1,308.8953.8

1,324-4966.8

1,345.7980.9

1,336.4967.5

1,357.1985-6

1,341-9962.4

1,349.2979.5

1,322.5969.4

1,316.1958.0

1,319.5952.3

1 ,3?T .8

966.9

1,286.6942.7

1,289.9961.9

1,289.2964.9

1,736.51,769.2

481-5953.3

4V9.9957.9

478.4943.3

485.6962.0

483-9965-9

483-2953-6

485-4956-3

484-4973-6

484-3968.2

483.2962.5

486.5973.7

484.5961.1

484.7

962.3

118.3

311-9134.3

:76-6140.9

292.2

146.8

276.0

133.4

254-6120.7

263.6133-6

243-6lU-5

258-1137-4

251-2120.0

278.0130.7

284-3142-8

280.

5

152.7

27Q.3

133-6

314.9159.3

311.1138.8

311.9135.3

278.3233.8

18.8

47.3

20.842.4

21.656.9

15-039-8

16.2

34-4

17-046-3

14-843-8

15-928-1

15-2

31-9

17-2

38-3

U-028.5

15.840.6

15.8

38.7

397.1

252.1

311.0172.7

386.4224.0

395.5281.7

416.6272.3

340.1240.0

326.3252.2

383.9302.6

395.2261.3

362.0232.6

446.9263-5

426.8304.5

432.7303.7

301.9

303.6243.7

473.1252.4

42^.1302.7

60.2240.7

150.7225.5

118.4230.4

120.6211.8

75.7225.9

188.6271.4

163.5281.0

150.3250.9

160.5263.8

150.2274.1

150.2280.5

138.1276.1

159-8280. i

1,501.21,000.3

1,502.51,000.8

1,502.21,000.1

1,503.51,000.8

1,500.2

999.9

1,501.41,000.6

1,501.3999.9

1,500.91,000.0

1,600.61,002.6

1,601.61,000.6

1,600.1

1,000.4

1,600.21,006-1

1,607-71,003.3

1,600./.

1,001.0

1,600.51,001.9

1,602.51,000.8

1,601.01,002.4

500.4994.8

500.71,000.1

500.0900.1

501.1904.6

500.0903.5

500.1901.0

500.4901.0

500.0901.0

500.3

900.0

500.3902.0

500.7900.1

500.01,000.5

500.5

1,000.6

20,122.626,026.0

20,220.626,025.7

20,320.926,128.2

20,418.426,228.1

20,518.626.328.3

20,617.526,429.3

20,716.226,530.4

20,816.026.630.5

20. 815. -5

26,727.7

20,814.326,826.5

20,814-626,926-3

20,814-927,021-0

20,807.227,122.8

27,222.3

20,808.827,322.4

20,807.527,422.3

20,807.627,520.1

2,014.84,017.8

4,503.411,111.2

4,503.411,111.5

4,503.411,211.6

4,502.811,308.7

4,503.011,408.5

4,503.111,507.4

4,502.811,606.5

4,503.111,707.3

4,502.311,807.3

4,502.411,906.1

4,502.1

l2,008.2r

4,502.512,009. 3r

4,502.412,009.7

Footnotes at end of table.


.PUBLIC DEBT OPERATIONS.

Table 2. - Offerings of Treasury Bills - (Continued)

Issue date

Regular weekly:

( n-ueek and26-ueelc )

1968-Apr. A

Apr. 11

Apr. 18

Apr. 25

May 2

May 9

May 16

May 23

May 31

June 6

June 13

June 20

June 27

July 5

July 11

July 18

July 25

Tax anticipation :

1968-July 11

9-it'onth and one-year :

1967-July 31

Aug. 31

Sept. 30

Oct. 31

Nov. 30 ,

Dec. 31

1968-Jan. 31

Feb. 29 ,

Mar. 31

Apr. 30

May 31

June 30

July 31

On total bids accepted jn competitive bids accepted

Average price

per hundred

98.685

97.338

98.65897.270

98.61997.185

98.59997.12i

98.61097.163

98.60897.120

98.59597.093

98.52296.969

98.57697.033

98.57297.119

98.55697.073

98.59097.152

98.67697.227

98.65097.190

98.64397.265

98.61897.190

98.66297.287

96.16195.705

96.070

9i.764

96.120

9i.815

'96.113

94.791

95.95694.610

"95.858

94.479

95.80394.364

96.00194.645

95.99894.646

'

95.87294.449

95.65794.258

95.38593.837

' 95.64394.189

' 95.94994.617

Equivalent averagerate 2/

(Percent)

5.U65.266

5.3105.399

5.4625.568

5.5435.689

5.i985.611

5. 5065.697

.557

,750

5.8485-996

,697

,869

5.6505.699

5.711

5.789

5.5795.633

5.2375.485

5.4015.588

5.3685.410

5.4675.557

5.2935.367

5.3995.426

5.1645.150

5.0975.100

5.1445.124

5.3135.301

5.4225.431

5.5555.5U

5.2545.267

5.2405.281

5.4235.475

,665

,663

6.0866.079

5.745

5.732

5.3425.310

Price per hundred

Footnotes on following page.

4/5/

6/

2/

8/

98.711

97.352

98.67397.286

98.62697.200

98.61497.138

98.61797.176

98.61597.135

98.60797.108

93.534 2/96.985 13/

98.58397.039

98.57997.128 11/

98.569 12/

97.088

98.59597.170

98.69097.250 li/

98.66597.218

98.66097.290

98.625 U/97.204 ly98.67197.294

96.176 16/95.737 17/

96.084 18/94.774 23/

96.16494.881 20/

96.15494.835

95.982 21/94.637 22/

95.88394.525

95.83394. 408

96.02894.685

22,/

96.02194.708 U/95.92294.536 gy95.66894.272

95.42093.881

95.67894.206 26/

95.95894.629

Equivalent rat 2/

(Percent)

5.0445.238

5.2505.368

5.4365.538

5.4835.661

5.i715.586

5.4795.667

5.5115.720

S.3005.964

5.6685.857

5.6225.681

5.661

5.760

5.5585.598

5.1825.440

5.3405.533

5.3015.360

5.4405.531

5.2585.353

5.3785.385

5.U55.140

5.0405.035

5.0905.080

5.2795.275

5.3905.385

5.5155.500

5.2195.228

5.2095.220

5.3585.389

5.6505.6?0

6.0406.035

5.699

5.715

5.?305.297

Low

Price per hundred

98.67397.320

98.64997.260

98.61697.180

98.59397. lU98.606

97.154

98.60397.116

98.59097.084

98.51796.959

98.56697.026

98. 56497.109

98.55297.067

98.58497.142

98.64997.205

98.62597.184

98.63697.249

98.61297.185

98.65997.281

96.14795.689

96.03894.744

96.09994.774

96.09594.745

95.94494.592

95.83894.429

95.77794.307

95.97094.576

95.97594.587

95.84094.373

95.64594.241

95.35393.805

95.62494-172

95.94^94.608

Equivalent rate 1/

(Percent)

5.1935.301

5.3455.420

5-4755.578

5.5665.709

5.5155.629

5.5275.705

5.5785.768

5.8676.015

5.7365.883

5.631

5.718

5.7285.802

5.6025.653

5.3455.529

5.5005.601

5.396

5.U2

5.4915.568

5.3055.378

5.4185.445

5.2065.170

5.125

5.U0

,168

,169

5.3295.319

5.4485. 480

5.5895.600

5.2955.335

5.269

5.339

5.4665.550

5.6805.680

6.1286.110

5.7715.743

5.3495. 318

August 1968 33

PUBLIC DEBT OPERATIONS.


Source: Daily Treasury statement; Bureau of the Public Debt.

1/ The 13-week bills represent additional issues of bills with anoriginal maturity of 26-weeks and the 9-month bills representadditional issues of bills with an original maturity of one-year.For 13-week and 26-week issues, tenders for $200,000 or less fromany one bidder are accepted in full at average price of acceptedcompetitive bids; for other issues, the corresponding amount isstipulated in each offering announcement.Bank discount basis.Except $300,000 at 98.685.Except $850,000 at 97.300.Except $1,000,000 at 97. U9.Except $1,000,000 at 98.620.Except $2,000 at 97.116.Except $200,000 at 98.595.Except $533,000 at 96.992.Except $5/12,000 at 97.150.

2/

2/

i/6/

2/8/

2/iS/11/

12/ Except $100,000 at 98.812, $100,000 at 98.811, $100,000 at 98.810,$100,000 at 98.809 and $100,000 at 98.808.

12/ Except $725,000 at 97.227.14/ Except $100,000 at 98.6^3, and $^00,000 at 98.632.15/ Except $2,000 at 97.250, and $1,270,000 at 97.214.16/ Except $500,000 at 96.188.17/ Except $500,000 at 95.757, and $500,000 at 95.7/11.18/ Except $100,000 at 96.385, and $25,000 at 96.200.12/ Except $100,000 at 95.215, $25,000 at 94.800, $1,000,000 at 94.795

and $1,000,000 at 94.785.20/ Except $100,000 at 94.950.a/ Except $3,000,000 at 95.990.22/ Except $238,000 at 94.951.23/ Except $200,000 at 94.693.24/ Except $500,000 at 94.728.25/ Except $900,000 at 94.545.26/ Except $600,000 at 94.251.r Revised.

34

.PUBLIC DEBT OPERATIONS.Treasury Bulletin

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

{Dollar amounts in millions)

Description of issue

Issuedate

1967-July 13.

July 20.

July 27.

August 3.

August 10.

August 17.

August 2^.

August 31.

September 7.

September li.

September 21.

September 28.

October 5.

October 13.

October 19.

October 26.

November 2.

November 9.

November 16,

November 2<i.

November 30.

December 7.

December 14.

December 21.

December 23.

1968-Jafiuary i.

February 29.

March 7

March 14

March 21

March 28

Maturitydate

1967-October 13

1968-January 11

1967-October1968-January

'1967-Ootober1968-January

' 1967-November1968-February

1967-Noveraber

1968-February

' I'-)(j7-November

1968-February

1967-December1968-March




19

18

2625

2

1

98

1967-November 161'->6S-February 15

2423

1967-November 30

1968-February 29

7

7

14

U21

21

28

28

JanuaryApril

August 1968 35


Table 3. - New Money Financing through Regular Weekly Treasury Bills i- (Continued)

(Dollar amounts in millions)

Description of issue

Issuedate

1968-April

April

April

April

May-

May

May

May

May

June

June

June

June

July

July

July

July

4.

11.

18.

25.

2,

9.

16,

23.

31.

6

13

20

27

5.

11.

18,

25.

Maturitydate

1968-JulyOctober

JulyOctober

JulyOctober

JulyOctober

AugustOctober

AugustNovember

AugustNovember

AugustNovember

AugustNovember

SeptemberDecember

SeptemberDecember

SeptemberDecember

SeptemberDecember

October

\ 1969-Jffnuary

fi968-October

\1969-January

ri968-0ctober1 1969-January

Il968-October

\1969-Jan\iary

5

3

11

10

18

17

25

2i

1

31

15

U22

21

29

29

5

5

12

12

19

19

26

26

3

2

10

9

1716

23

Number of

days tomaturity

182

91182

91182

91182

91182

91182

91182

91182

90182

91182

91182

91182

91182

90181

91182

91182

91182

Amountof bidstendered

$2,1V91,601

2,3951,884

3,2562,493

2,6142,328

2,7041,966

2,4942,176

2,4172,065

2,5262,150

2,2922,154

2,4102,365

2,6282,041

2,5901,969

2,3751,968

2,119

1,981

2,6371,996

2,6252.476

2,8692,365

Amountof bidsaccepted

Jl,6001,000

1,6001,001

1,6021,103

1,6011,101

1,6001,100

1,6001,102

1,6001,101

1,6011,100

1,6001,100

1,6001,099

1,6001,100

1,6001,101

1,6001,105

1,6011,100

1,6021,102

1,6011,101

1,6011,100

Average rateof bidsaccepted 2/

(Percent)

5.1465.266

5.3105.399

5.4625.568

5.5435.689

5.4985.611

5.5065.697

5.5575.750

5.8485.996

5.6985.869

5.6505.699

5.7115.789

5.5795.633

5.2375.485

5.4015.588

5.3685.410

5.4675-557

5.2935.367

New moneyincrease, or

decrease (-)

J 99

98

203

197

200

200

200

200

97

98

100

95

94

100

101

98

98

Source: See Table 2.

1/ Excludes issues of strips of additional amounts of outstanding, regularweekly bills for cash on November 25, 1966 ($1,202 million). See

Table 4.

2/ Equivalent average rate on bank discount basis.



Table 4. - Offerings of Public Marketable Securities Other than

Regular Weekly Treasury Bills

Date subscrip-

August 1968.PUBLIC DEBT OPERATIONS.

Table 4. - Offerings of Public Marketable Securities Other than

Regular Weekly Treasury Bills - (Continued)

37

Date subscrip-

38


Treasury Bulletin


2/

2/

A/y6/

2/

8/

2/

10/

Source: Bureau of the Public Debt.

1/ Bonds, notes, and certificates of indebtedness issued at par except

those bearing footnote 1^. For bill issues, always sold at auction,

the rate shovm is the equivalent average rate (bank discoiint basis)

on accepted bids. For details of bill offerings, see Table 2.

On September 3, 1963, the Treasury began the monthly issuance of one-

year bills to mature on the last day of each month and, in addition,

on September 30, 1966, it began the monthly issuance of bills to

mature in nine months.

From date of additional issue in case of a reopening.

In reopenings, the amount issued is in addition to the amount of

original offering.

For securities exchanged for the new issues, see Table 8.

For exchange value of securities eligible tcr be exchanged see Table

5 or 6.

Includes $A«'i31 million of the 5-lA% certificates and $1,519 millionof the '^-1/iS notes allotted to Federal Reserve banks and Governmentinvestment accounts.

Tax anticipation bill, acceptable at face value in payment of income

taxes due on the 15th of the month in which the bills mature.Exchange offering available to owners of nonmarketable 2-'i/lS Treasurybonds. Investment Series B-1975-80, dated April 1, 1951- For furtherinformation on the original offering see Treasury Bulletin for April

1951. page A-1. Amounts shown are as of July 31, 1968.

Payment for subscriptions allotted could be made in cash or in Treasurybonds, notes, or certificates of indebtedness maturing on theissue date of the new security.

Consists of allotments paid for with Treasury bonds, notes, or certif-icates of indebtedness maturing on issue date of new security •

Subscriptions from States, political subdivisions or instrumentalitiesthereof, public pension and retirement and other public funds, inter-national organizations in which the United States holds membership,foreign central banks and foreign states, Government investment accountsand the Federal Reserve banks, totaling $9-i3 million for the 5-5/8^notes and $75 million for the 5-3/8% notes, were allotted in full where,as provided in the offering circulars, the subscriber made the requiredcertification of ownership of securities maturing November 15, 1966.Subscriptions subject to allotment totaled $^,918 million for the 5-5/8%notes which were allotted 30 percent, and $13,954- million for the 5-3/8%notes which were allotted 10 percent; subscriptions for $100,000 or lesswere allotted in full, and subscriptions for more than $100,000 wereallotted not less than $100,000.Sale of a "strip" of Treasury bills, consisting of an additional $400million of three series of outstanding one-year Treasury bills maturingMarch 31, April 30, and May 31, 1967.Issued for cash and in exchange for Treasury bills maturing November 25)1966.

Price at which issued appears in either Table 5 or 6.

Subscriptions from States, political subdivisions or instrumentalitiesthereof, public pension and retirement and other public funds, inter-

national organizations in which the United States holds membership,foreign central banks and foreign states. Government investment account.^and the Federal Reserve banks, totaling $3,675 million for the notesof Series B-1968 and tllS million for the notes of Series A-1972, wereallotted in full where, as provided in the offering circulars, thesubscriber made the required certification of ownership of securitiesmaturing Febiuary 15, 1967. Subscriptions subject to allotment totaled

12/

12/

11/

$l6,2/.0 million for the notes of Series b-1968, those up to and includ-

ing $100,000 were allotted in full, all others were allotted 10 percentbut in no case less that $100,000, and $21,887 million for the notesof Series A-1972, those up to and including $50,000 were allotted in

full, all ethers were allotted 7 percent but in no case less than$50,000.

16/ Includes U.,00 million cf the ^-l/^% notes and $2,576 million of the4-3/4-% notes allotted to Federal Reserve banks and Government invest-ment accounts.

17/ Subscriptions from States, political subdivisions. or instrumentalitiesthereof, public pension and retirraent and other public funds, inter-national organizations in which the United States holds membership,foreign central banks and foreign states, Government investment accountsand the Federal Reserve banks, totaling $6,3-^.0 million, were allottedin full where, as provided in the offering circular, the subscribermade the required certification of ownership of securities maturingAugust 15t 1967. Subscriptions subject to allotment totaled $9,320million: those up to and including $100,000 were allotted in full;

all others were allotted 35 percent but in no case less that $100,000.18/ Subscriptions for $100,000 or less were allotted in full. Subscrip-

tions for more than $100,000 were allotted 38 percent but in no caseless than $100,000.

12/ Subscriptions from States, political subdivisions or instrumentalitiesthereof, public pension and retirement and other public funds, inter-

national organizations in which the United States holds membership,

foreign central banks and foreign states. Government investment accountsand the Federal Reserve banks, totaling $7,575 million for the notesof Series A-1969 and $14-9 million for the notes of Series A-1974, wereallotted in full where, as provided in the offering circulars, the

subscriber made the required certification of ownership of securitiesmaturing November 15, 1967. Subscriptions subject to allotment totaled$8,070 million for the notes of Series A-1969 which were allotted 36percent, and $13,98ii. mill ion for the notes of Series A-1974. which wereallotted 7-1/2 percent; subscriptions for $100,000 or less were allottedin full, and subscriptions for more that $100,000 were allotted notless than $100,000.

20/ Includes $1,280 million allotted to Federal Reserve banks and Govern-ment investment accounts.

21 / Subscriptions for $200,000 or less were allotted in full. Subscriptionsfor more than $200,000 were allotted 39 percent but in no case lessthan $200,000.

22/ Includes $3,993 million exchanged by Federal Reserve banks and Govern-ment investment accounts,

22/ Subscriptions for $100,000 or less were allotted in full. Subscriptionsfor more than $100,000 were allotted 28 percent but in no case lessthan $100,000.

2A/ As provided in the offering circular subscriptions were allotted in full(l) for States, political subdivisions or instrumentalities thereof,piblic pension and retirement and other public funds, internationalorganizations in which the United States holds membership, and foreigncentral banks and foreign states where the subscriber certified thatit owned securities maturing August 15, 1968, these totaled $122million (2) for Federal Resei^re banks and Government investmentaccounts, these totaled $4,811 million and (3) those for $250,000or less. All other subscriptions were allotted 18 percent but inno case less than $250,000. The total of all subscriptions fromthe public was $23,569 million,

p Preliminary.

August 1968 39


Table 5. - Unmatured Marketable Securities Issued in Advance Refunding Operations


1968

3-7/S% Bond - 11/15/6S

196'

i.% Bond - 10/1/69 V

1970

tfl Bond - 2/15/70

i% Bond - 8/15/70 5/

1971

iS Bond

3-7/8?6 Bond

8/15A1

11/15/71 5/

1972

i% Bond - 8/15/72

Bite offinancing

Amount issued

(In millions)

9/18/63

7/24/64

1/19/65

1/29/64

3/9/62

3/15/63

9/20/62

$620 A/194 A/777 4/

1,591

287250635161

399 4/179 4/942 4/294 4/579 4/

3,726

674640 4/176 4/588 4/379 4/300 4/903 4/724 4/

4,331

165 4/211 4/694 4/278 4/221 4/654 4/

2,223

1,154 ^l,o51 4/

^,806

693 4/94 4/532 4/196 4/

1,515

370 4/259 4/402 4/449 4/720 4/379 4/

2,579

Adjustment paymentsat issue (per $100of face value) 1/

ByTreasury

ToTreasury

80.651.600.95

0.450.800.300.450.500.650.100.25

0.600.450.900.400.700.500.05

1.651.850.950.951.80

1.10

0.900.700.70

0.700.300.600.600.601.20

$0.30

Effectiveyield 2/

0.30

0.25

4.01*

4.234.0.'^

4.104.184.064.104.114.144.034.073.96

4.134.104.214.094.154.124.053.92

4.294.334.174.174.323.96

4.034.033.973.97

4.094.044.074.074. 01

4.1^

Investmentyield 2/

4.02?4.024.02

4.054.064.064.064.034.084.094.084.08

4.164.184.184.184.184.184.134.17

4.154.154.164.164.164.15

3.973.963.973.96

4.064.054.064.064.064.07

Eligible securities exchanged

3-1/4? Certificate4-3/4? Note3-3/4? Note

5? Note4-7/8? Note

3-3/4? Note

3-3/4? Note3-7/8? Note

4? Note3-5/8? Note

3-3/4? Bond3-5/8? Note

2-5/8? Bond3-1/2? Note

4? Note3-5/8? Note

3-7/8? Note

3-3/4? Bond

3-3/4? Note3-5/8? Bond

5? Note4-7/8? Note

3-3/4? Note3-3/4? Note

4-5/8? Note2-5/8? Bond

Bond

5/8? Bond

3-1/2? Certificate3-1/8? Certificate2-1/2? Bond

3? Bond

3-1/2? Certificate2-5/8? Note

3-1/4? Note3-1/4? Certificate3-1/4? Note

4? Note

5/15/64-B5/15/64-A5/15/64-D

8/15/64-B11/15/64-C8/1 5/64 -E11/15/64-F5/15/65-C

8/1 5/66-A2/15/66-B5/15/662/15/67-B

2/15/6511/15/65-B11/15/65-E2/15/66-B2/15/66-C5/15/668/1 5/67-A

11/15/67

8/15/64-B11/15/64-C3/15/64-E11/15/64-F5/15/65-A2/15/65

2/15/642/15/'-.5

8/15/63-C11/15/63-D8/15/632/15/64

2/15/63-A2/15/63-A2/15/63-E5/15/63-B5/15/63-D5/15/63-B

Footnotes at end of table. (Continued on following page)



Table 5. - Unmatured Marketable Securities Issued in Advance Refunding Operations - (Continued)

August 1968 41


Table 5. - Unmatured Marketable Securities Issued in Advance Refunding Operations - (Continued)



Table 6. - Unmatured Marketable Securities Issued at a Premium or Discount

Other than Advance Refunding Operations


1968

A-lM% Note

i-l/U% Note

1969

IS Bond

iS Bond

1970

Auqust 1968 43


Table 6. - Unmatured Marketable Securities Issued at a Premium or Discount

Other than Advance Refunding Operations - (Continued)

44

PUBLIC DEBT OPERATIONS.Treasury Bulletin

Table 7. - Allotments by Investor Classes on Subscriptions for Public Marketable Securities

Part A. - Other than Treasury Bills i/


Issues

Aagust 1968 45



Part B. - Treasury Bills Other than Regular Weekly Series




Part B. - Treasury Bills Other than Regular Weekly Series - (Continued)


August 1968

.PUBLIC DEBT OPERATIONS.47

Table 8. - Disposition of Public Marketable Securities

Other than Regular Weekly Treasury Bills

Date ofrefundingor retire-ment

7/31/66

8/15/66 <

8/31/66

9/30/66

10/1/66

10/31/66

11/1 5/b6

11/30/66

12/31/66

1/31/67

2/15/67

2/28/67

3/22/67

3/31/67

4/1/67

4/21/67

4/30/67

5/15/67 <

5/31/67

6/15/67

Galled or maturing securities 1/'

Description

3.87556 Bill

^A% Note

3?

Total.

Bond

4-3/4/S Cert.

i.% Note

3-3/8? Bond

Total

Grand total.

4. 006? Bill

4.236? Bill

1-1/2? Note

4.192? Bill

f3-3/3% Bond

4? Note

4-3/4? Cert.

Jotal

.

4.277? Bill

4.731? Bill

4.699? Bill

r3-5/8? Note

4?

iTotal.

Note

4.845? Bill

5.338? Bill

4.739? Bill

1-1/2? Note

r5.433? Bill

1^5.483? Bill

4.773? Bill

r4-l/4? Note

2-1/2? Bond

7/31/66

8/15/66-A

8/15/66

11/15/66-A

11/15/66-E

11/15/66

8/31/66

9/30/66

10/1/66-EG

10/31/66

11/15/66

11/15/66-E

11/15/66-A

11/30/66

12/31/66

1/31/67

2/1 5/67-

B

2/15/67-C

2/28/67

3/22/67

3/31/67

4/1/67-EA

4/21/674/21/67

4/30/67

5/15/67-D

6/15/67

Ijotal

r5-l/4? Cert. - 8/15/67-A

1 3-3/4? Note - 8/15/67-A

14-7/8? Note - 8/15/67-E

[lotal

Grand total

4.966? Bill - 5/31/67

2-1/2? Bond - 6/15/67

Issuedate

7/31/65

2/15/62

2/28/58

1/19/66

2/15/65

3/15/61

8/31/65

9/30/65

10/1/61

10/31/65

3/15/61

2/15/65

1/19/66

11/30/65

12/31/65

1/31/66

3/15/63

8/13/65

2/28/66

8/26/66

3/31/66

4/1/62

8/26/668/26/66

4/30/66

11/15/65

5/5/42

8/15/66

9/15/62

2/15/66

5/31/66

5/5/42

Amountout-standing

1,000

8,436

700

9,136

1,652

2,254

1,851

5,757

14, 8*^3

1,000

1,000

357

1,000

1,264

1,672

1.135

4,071

1,001

1,001

1,001

2,358

5,151

7,508

1,000

2,006

1,000

270

1,0031,507

1,001

9,748

1,429

11,177

5,919

2,929

2,117

10,966

22,143

1,001

344

Disposition offersby Treasury

Cash

retire-ment

Exchangesecurityoffered

Results of ex-change offers

Ex-changed

Turnedin for

cash 2/

1,000 2/


8,436

9,136

1,652

2,254

1,851

5,757

14,893

1,000 3/

1 , 000 V357

1 , 000 i/

1,264

I

1,672

1,135I

-r4,071 i/

1,001 V1,001 i/

1,001 V2,358

I

5.151

7,508 i/

1 , 000 i/

2,006 7/

1.000 V270

loos'1,507

1.001 V7/

1,001 V344

9,748

1.429

11,177

5,919

2,929

2,117

10,966

22,143

5,6282,307

291271

3,497

517

584

586

1,687

10,184

27919

60928

4419

999

396

54

3,240174

3,864

5.3043,506

640446

10,396

308

837

213

1.358

11,753

501

138

639

639

966

1.035

1,071

3.072 6/

3,6a 6/

438

438

438

Description of newsecurities offered(See also Table 4)

(5-1/4% Cert. -

15-1/4? Note

15-1/4? Cert. -

I5-1/4? Note

8/15/67-A5/15/71-A

8/15/67-A5/15/71-A

I 5,919

I2,578

of 5-1/4? Cert,of 5-1/4? Note

5-1/4? Note 5/15/71-A

5,9191 4,265

of 5-1/4? Cert,of 5-1/4? Note

5-5/8? Note5-3/8? Note

5-5/8? Note5-3/3? Note

I 5-5/8? Note15-3/8? Note

2/1 5/68- ii

11/15/71-B

2/15/68-A11/15/71-B

2/15/68-All/15/71-B

932 of 5-5/8? Note66 of 5-3/8? Note

' 4-3/4? Note

14-3/4? Note

4-3/4? Note

4-3/4? Note

(3,636228

5/15/68-B2/15/72-A

5/15/68-B2/15/72-A

cf 4-3/4? Note-Bof 4-3/4? Note-A

4-1/4?4-3/4?

48

PUBLIC DEBT OPERATIONS.Treasury Bulletin

Table 8. - Disposition of Public Marketable Securities

Other than Regular Weekly Bills - (Continued)

Date of

refundingor retire-ment

Called or matiiring securities 1/

DescriptionIssuedate

Amountout-standing

Disposition offersby Treasury

Cashretire-ment

Exchangesecurityoffered

Results of ex-change offers

Ex-

changed

Turnedin forcash 2/

Description of newsecurities offered{See also Table ^4)

6/22/67

6/30/67

7/31/67

8/15/67

8/31/67

9/30/67

10/1/67

10/31/67

11/15/67

11/30/67

12/31/67

1/31/68

2/15/68 ,

5.586i6 Bill5.2«$ Bill4.295* Bill

/i.697iC Bill

< 5.808? Bill

UsbiS Bill\5.ibl% Bill

rS.SU? Bill

)^5.552? Bill

h.&Ob% Bill

U.920? Bill

1-1/2% Note

h.iUS Bill

U.656? Bill

Pi-7/8* Note

[3-5/8* Bond

Total

2/29/68

3/22/68

3/31/68

4/1/68

5/15/68

5/31/68

6/30/68

7/31/68

8/15/68

fs.SW* Bill

U.718* Bill

U.S2Q% Bill\4.077* Bill

1^.577% Bill

\3.843* Bill

5-5/8% Note

-1//S Note13-3/4% Bond

5-1/4% Note

I3-7/8% Bond

(Total

Grand total.

A. 696% Bill

1^3.945% Bill

4.861% Bill

r4.074% Bill

U.723% Bill

1-1/2% Note

3.833% Bill5.164% Bill

4-3/4% Note

^3-7/8% Bond

Total

3.934% Bill5.097% Bill

14-732% Bill

^5.144% Bill

^5.150% Bill

^5.313% Bill

'4-1/4% Note

3-3/4% Bond

6/22/676/22/676/22/67

6/30/676/30/67

7/31/677/31/67

8/15/67-A

8/15/67-A

8/15/67-E

8/31/678/31/67

9/30/679/30/67

10/1/67-EO

10/31/6710/31/67

11/15/67-F

11/15/67

11/30/6711/30/67

12/31/6712/31/67

1/31/681/31/68

2/15/68-A

8/15/68-C8/15/68

11/15/68-D11/15/68

2/29/682/29/68

3/22/68

3/31/683/31/68

4/1/68-EA

4/30/684/30/68

5/15/68-B5/15/68

5/31/685/31/68

6/30/686/30/68

7/31/687/31/68

8/15/68-C8/15/68

10/18/6610/18/6610/18/66

6/30/666/30/66

7/31/667/31/66

8/15/66

9/15/62

2/15/66

8/31/668/31/66

9/30/669/30/66

10/1/62

10/31/6610/31/66

5/15/66

3/15/61

11/30/6611/30/66

12/31/6612/31/66

1/31/671/31/67

11/15/66

5/15/674/18/628/15/679/15/63

2/28/672/28/67

7/11/67

3/31/673/31/67

4/1/63

4/30/674/30/67

2/15/676/23/60

5/31/675/31/67

6/30/676/30/67

7/31/677/31/67

5/15/674/18/62

2,007801

2,707

1,001500

995500

5,610

2,094

1,904

9,608

1,000501

900500

457

905501

8,135

2,019

10,154

900500

901500

901500

2,635

6,4443,7479,9131,591

21,695

24,331

901500

2,003

900500

900500

5,5872,460

8,047

900501

1,001500

1,001

501

5,9362,640

8,576


2,00'7l

801)7/2,7C7|

l,O0l\V

500J

995"!^

500_/

5,610

I

2,094I

1,904

9,608 ^i,ooo"l

5OIJ

'^°°^4y500jl^

457

905501:}.

3,135

2,019I

10,154 i/

2,003^7/

900)

^50(

212

900I

500

°00l ,

501^/

l,00l"l

500J

1,001

501

2,635

6,4443,7479,9131,591

21,o95

::.;,331

5,5872,460

3,047

'V

5.9362,640

3,576 y±

4,621

420

1,322

6,363

6,929105

652*

40

T,726

2,171p

507pl,lC7p

929p433p

;:,977p

5,148p

5,047pl,699p

6,747p

989

1,674

582

5-1/4% Note 11/15/68-D

3,245 6/

1,101

1,326

2,427 6/

5-5/8% Note

.5-3/4% Note

5-5/8% Note5-3/4% Note

2/15/69-A11/15/74-A

2/15/69-A11/15/74-A

7,581145

of 5-5/8% Noteof 5-3/4% Note

464p

) 5-3/4% Note

464p

2/15/75-A

540p761p

5/15/75-B

l,300p 8/

1 5-5/8* Note 8/15/74-B

n.a. 6/

Footnotes on following page.

August 1968 49



Source: Daily Treasury Statement; Bureau of the Public Debt.

X/ Original call and maturity dates are used.

2/ All by investors other than Federal Reserve banks.

_2/ Rolled over into one-year bills (see Table 4).

4/ Rolled over into 9-raonth and one-year bills under new programbeginning September 30, 1966 (see Table ^)

.

%f Holders of the maturing notes, bonds, or certificates were not offeredpreemptive rights to exchange their holdings, but were permittedto present them in payment or exchange, in whole or in part, for thenew securities of/ered.

y Excess of maturing securities over allotments of new securities paidfor with the maturing securities.

if Tax anticipation issue; for detail of offerings beginning July 1966,see Table 4; for amounts redeemed for taxes and for cash see "Note"below.

y Of this amount, IS million of the k-'i/IS notes and $6 million of the3-l/Z% bonds were submitted in payment for subscriptions allottedfor 656 Treasury Notes of Series C-1969 which were offered on a cashbasis. Holders of the maturing securities were not offered preemptiverights to exchange their holdings for the notes of Series C-1969.For detail of offering see Table 4..

p Preliminary, n. a. Not available.

Note: Information on retirement of tax anticipation issues referred toin footnote 7, in millions of dollars:

Date ofretirement

50Treasury Bulletin


Table 9. - Foreign Series Securities (Nonmarketable)

Issued to Official Institutions of Foreign Countries

(Payable in U. S. Dollars)

August 1968 51

.PUBLIC DEBT OPERATIONS

Table 9. - Foreign Series Securities (Nonmarketable)Issued to Official Institutions of Foreign Countries - (Continued)


Month 0-'




Issued to Official Institutions of Foreign Countries - (Continued)


August 1968 53

.PUBLIC DEBT OPERATIONS.Table 9. - Foreign Series Securities (Nonmarketable)

I«!sued to Official Institutions of Foreign Countries - (Continued)

(Payable in U. Z. Dollars)





(Payable In U.S. Dollars)

August 1968 55

.PUBLIC DEBT OPERATIONS



(Payable in U.S. Dollars)

August 1968 57


Table 10. - Foreign Currency Series Securities (Nonmarketable)

Issued to Official Institutions of Foreign Countries

58


Table 10. - Foreign Currency Series Securities (Nonmarketable)


Treasury Bulletin

August 1968 59

.UNITED STATES SAVINGS BONDS.

Series E and H are the only savings bonds currently

being sold. Series E has been on sale since May 1, 1941,

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

A-D were sold from March 1, 1935, through April 30, ig/tl.

Series F and G were sold from May 1, 19'+1, through April

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

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

interest yields, maturities, and other terms appear in the

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

and December 1959, and May and October 1961, the Annual Report

of the Secretary of the Treasury fiscal year 1966 (pages 197

and 258), and fiscal year 1967 (pages 179 and 181); and the

Treasury Bulletin of June 1968.

Table 1. - Sales and Redemptions by Series, Cumulative through July 31, 1968

Footnotes at end of Table 4.




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


Sales V Accrueddiscount

Sales plusaccrueddiscount

Redemptions 1/

TotalSalesprice ^

Accrueddiscount ^

Amount outstanding

Interest-bearingdebt

Maturednoninterest-bearing debt

Series E and H combined

fiscal years :

19a-531959

I96019611962

1963196^1965196619671968

Calendar years :

1941-531959196019611962

19631964196519661967

Months :

1967- JulyAugust . . .

.


.

November.

,

December.

.

1968-January. .

.

February .

.

MarchAprilMayJune

July 394

93,747

August 1968.UNITED STATES SAVINGS BONDS.

61

Table 3. - Sales and Redemptions by Periods, Series E through K - (Continued)

( In millions of dollars

)

Sales 1/Accrueddiscount

Sales plusaccrueddiscount Total

Redemptions 1

Salesprice 2/

Accrueddiscount 2/

Exchanges of

E bonds for

H bonds

Amountoutstanding(interest-bearing debt)

Fiscal years :

Ka-'j?195919601961

19621963

196i1965196619671968

Calendar years :

19a-5S195919601Q61

19621963

19641"65

19661967

Months :

1967- JulyAugust . . , ,

September,

October. .

,

November .

,

December.

.

1968-January. .

.

February.

.

MarchAprilMayJune

July

89,0463,6883,6033,6893, bit.

3,9U4,1364,11^4,2464,5994,466

90,8533,5983,6323,7113,6244,1854,1324,0924,4504,574

384367328

379

354333

430395

375365

4U343

371 165

12,591

62


Treasury Bulletin

Table 4. - Redemptions of Matured and Unmatured Savings Bonds

fin millions of dollars)

Period Total 1/ Series E

and HOther Total

Series E

and HOther

Unclassified10/

Fiscal years :

1951-52

1953195419551956195719581959 ,.

.

196019611962

196319641965196619671968

Calendar years :

1951-52

1953

195i19551956195719581959196019611962

19631964196519661967

Months ;


.

September

.

October. .

.

November.

.

December.

.

1968-January. .

.

February.

.

MarchAprilMayJune

July

11,2465,6216,5157,2517,8468,9588,5447,2498,5575,8195,7165,2735,1645,3465,7245,922

5,982

10,725

6,U96,9857,3018,2649,6307,2558,7726,732

5,5955,6025,0215,252

5,4416,0005,793

468476456443429

466

632529537523522500

541

1,6101,7612,7473,9414,2634,1153,7303,6214,1262,6732,5932,2502,0572,1842,2532,471

2,548

1,7872,3133,1714,2304,2464,1563,3934,7013,0332,5552,3872,0432,1712,1482,4722,386

200170

237114

203

199

173250272190279

261

254

7401,1281,4871,8261,9171,9711,9061,9962,3041,7331,6681,5931,7541,9381,9732,059

2,289

1,2221,3281,5002,0471,8912,0841,6912,4331,9441,6331,6561,6171,8891,9322,0802,041

176

U7223106

183

159

156218242174258

248

231

369

Aagust 1968 63


Table 5. - Sales and Redemptions by Denominations, Series E and H i Combinedfin thousands of pieces)

PeriodTotal alldenominations

$10 2/ $25 $75 2/ $100 $200 4/ $500 1,000 $5,000 $10,000 y 6/

.;ales 7/

Fiscal years :

1941-58

195919601961196219631964196519661967

1968p

Calendar years :

1941-58

1959196019611962

19631964196519661967

Months :

VWf-JxayAugustSeptember. . .

.

OctoberNovemberDecember

1968-JanuaryFebruaryMarchApril

l^ayp

June p

Inception to date p.

1,966,25285,88285,60786,49586,47989,62796,60999,560103,500114,433117,279

2,008,38884,94586,65985,75787,09494,12398,4U100,657107,949117,004

10,1058,9018,548

10,6039,40s8,976

11,340

9,5749,9329,91610,722

9,251

2,931,725

21,076

21,076

21,076

1,323,^2952,89552,972

53,45353,01054,62959,23060,92863,43071,506

75,925

1,349,07252,45253,91052,52853,50357,39160,217

61,8a66,38174,422

6,6385,5305,3897,0766,0145,788

7,5836,1086,346

6,6506,8545,948

1,921,206

327,85120,10820,22020,43420,90121,90323,44223,94724,70426,476

25,823

337,74820,05020,34720,44721,32922,82823,81624,10625,49826,417

2,1662,0721,9712,2472,1282,015

2,3412,1192,2422,0342,4222,065

555,810

13?

1,1411,4691,749

1,860

6321,3221,6071,811

148142L41162

145140

164159155

167

178159

6,353

219,6729,4779,2089,273°,?86

l-,3--4

10,40910,71411,411

10,769

224,3869,2a9,1849,3229,19610,162

10,44510,36611,11411,214

896890826896896829

976912942839

1,002863

320,166

11,471798

774789813

1,30';,

9821,0101,068987

11,868775768816799

1,0191,000970

1,0541,041

8483

7478

78

72

87

848880

9781

20,627

30,4621,2121,1651,2011,1861,2331,2201,0871,1011,131987

31,0711,1411,1731,2471,0981,3251,1511,0441,1551,076

87

9377

77

7770

9393

83768772

41,986

32,1821,3401,2301,299l,2'i7

1,2701,2U1,0331,0421,064906

32,8341,2431,2381,3461,1271,3571,117978

1,110996

8389

67

68

6660

9397716880

60

43,816

215

352731

30

18

17

15

11

2323027

3427

24201717

13

447

16

11

1516

1616

14

13

14

1:

101

13

12

17

1517

15

13

U13

1

1

1

1

1

1

1

1

11

1

1

238

64

.UNITED STATES SAVINGS BONDS.Treasury Bulletin

Table 6. - Sales by States, Series E and H^ Combined

(In thousands of dollars at Issue price)

State

AlabamaAlaska

Arizona

ArkansasCaliforniaColorado

ConnecticutDelawareDistrict of Columbia

FloridaGeorgiaHawaii

IdahoIllinoisIndiana

IowaKansasKentucky

LouisianaMaineMaryland

MassachusettsMichiganMinnesota

MississippiMissouriMontana

NebraskaNevadaNew Hampshire

New JerseyNew MexicoNew York

North CarolinaNorth DakotaOhio

OklahomaOregonPennsylvania

Rhode IslandSouth CarolinaSouth Dakota

TennesseeTexasUtah

VermontVirginiaWashington

West VirginiaWisconsinWyoming

Canal ZonePuerto RicoVirgin Islands

Undistributed andadjustment to dailyTreasury statement..

Total

Inception

throughJune 1968

2/

i.sii.'^gs

69,065 2/523,808

755,1909,395,8551,022,178

2,161,62940/i,340

l,i20,927

1,889,073l,i81,546497,927

313,55710,967,8743,874,568

3,692,8722,155,1461,510,863

1,286,834504,551

1,816,928

3,828,2357,770,2592,477,579

714,5053,909,791

642,428

2,171,159170,377314,080

5,235,710340,151

15,424,326

1,509,450642,301

8,644,545

1,659,7621,237,528

11,615,263

584,868768,991789,071

1,384,5594,696,854

541,972

169,4802,268,364

2,129,899

1,389,0723,019,935249,530

86,45779,5814,836

5,988,936 V

1967

July

139,516,580

3,256221

1,902

1,33324,0612,451

6,2741,5563,125

6,2134,4001,005

628

26,74610,690

6,6613,4833,962

3,4461,5266,505

10,33519,4754,490

1,21812,1091,111

3,597478939

15,4131,076

42,451

3,8551,098

23,991

3,8632,34333,737

1,6872,001

1,3U

3,32810,1431,847

4307,637

3,739

3,5938,098396

25620027

64,967

Aug.

410,686

3,411287

1 ,804

1,35326,7602,388

6,5901,6102,559

6,9064,1091,156

48927,24811,114

7,5594,4164,028

3,1671,3066,935

10,69225,0275,100

1,12611,491

986

4,775673

759

16,0211,312

43,635

3,668929

25,861

4,0752,173

34,928

1,3812,0031,333

3,76611,7051,736

3946,067

3,676

3,8147,404

360

115

34856

29,699

Sept.

392,283

3,301303

1,448

1,28724,5122,222

5,6031,4053,462

6,0663,6431,218

42722,9219,895

6,1314,0143,803

2,6621,032

6,575

9,15620,2374,000

1,16410,333

839

3,906507641

14,939898

38,863

3,6318U

22,456

3,7711,760

33,172

1,2001,9251,400

3,1359,9891,639

3726,770

3,250

3,3956,571400

32619919

25,727

Oct.

349,364

2,923729

1,591

1,27126,5082,231

5,7871,8585,657

6,4064,4311,247

48424,62310,549

6,3843,8793,492

2,9421,1735,243

9,92724,3494,769

1,15812,2911,054

3,932529

1,194

14,8261,130

41,622

3,676911

24,444

3,9982,06433,227

1,4972,1001,330

3,56310,7421,585

4086,210

3,048

3,2416,991

374

24121023

57,549

Nov.

403,621

3,048260

1,499

1,262

24,8582,340

6,971

1,5744,109

6,7523,9091,407

388

23,38910,039

6,3323,8323,687

2,8371,1517,437

9,43321,2834,500

1,01610,752

985

4,317421797

15,387937

42,424

3,862955

22,462

3,8422,02231,766

1,3981,8991,373

3,48511,9731,439

401

5,745

3,472

3,6746,286

434

422322

33

36,790

Dec.

373,388

2,81b296

1,424

1,52424,4322,099

5,3971,3362,210

6,3753,7511,025

365

23,1609,827

6,4303,615

3,453

2,52^910

6,335

9,84119,9513,855

98310,466

932

3,733472

615

14,47999b

41,419

3,572849

22,450

4,1321,827

31,562

1,0671,7951,248

3,3229,7691,523

3256,310

3,U9

3,5726,226

384

29428025

31,315

1968

Jan.

352,340

3,703304

1,893

1,71331,0472,351

6,8681,8944,404

7,4514,6661,248

55731,16811,529

9,2975,1164,192

3,4811,3227,204

11,63525,6555,176

1,35713,3531,208

4,'884

749968

17,4741,128

45,539

4,281965

27,953

4,2533,143

38,031

1,8272,0801,664

4,21312,6001,662

4887,710

4,359

3,9107,805406

111

4:^9

41

60,233

,698

3,403282

1,717

1,73627,5382,505

6,0911,7643,413

8,5794,6631,021

63126,21110,442

7,890-

4,9244,380

3,5581,2777,541

10,97526,2235,138

1,44111,9831,119

4,404289906

15,9971,152

45,925

4,2861,122

24,514

4,2912,256

37,639

1,4532,0011,738

4,07211,9671,617

399

6,634

3,893

3,8756,979

490

536

38423

47,299

Mar.

422,586

2,939231

1,474

1,45826,6832,681

6,2931,7073,638

6,3914,246

652

44824,290^,752

6,6304,0193,650

2,7501,0957,168

9,94825,5274,126

1,08410,712

926

3,531326680

15,9281,064

38,029

3,850920

23,689

3,8532,15533,895

1,4141,7621,385

3,01211,1231,418

4487,528

3,552

3,4046,590

356

26427433

57,829

April

398,830

3,064301

1,869

1,43025,8282,457

6,004630

2,128

6,7894,3301,434

40026,17110,043

6,7073,2393,896

3,0361,1117,140

10,05428,172

4,695

1,21310,7771,002

3,396551766

15,531911

43,080

4,127861

22,264

3,6952,366

35,175

1,4302,1061,406

3,59011,7431,671

4077,180

3,765

3,5536,753

345

27726829

32,832

Hay

384,007

3,075

1911,7d5

1,37127,3882,148

6,4142,6653,320

7,3314,0851,461

528

24,8119,747

5,2113,3983,646

2,8841,0726,8^4

10,76425,7274,512

1,1279,541

920

2,900676797

15,3451,204

45,090

3,933805

23,530

3,7142,156

34,563

1,4721,8611,134

3,75212,2751,560

4457,102

3,572

3,7266,487

338

277

23021

81,260

432,221

Source: Daily Treasury statement and reports from Federal Reserve banks.

1/ Sales of Series H began June 1, 1952.2/ Figures include exchanges of minor amounts of Series F and J bonds for

Series H bonds beginning January 1960: however they exclude exchanges ofSeries E bonds for Series H bonds.

^ Excludes data for period April 1947 through December 1956, when reports4/

were not available. In previous issues of the Bulletin, data forperiod May 19.^1 through March 194-7 were included in "Other possessions,and data for calendar years 1957 and 1953 were included in "Adjustmentto daily Treasmy statement."Includes a small amount for other possessions.

August 1968 65

UNITED STATES SAVINGS NOTES

Sales of United States savings notes began May 1, 19b7.

The notes are eligible for purchase by individuals with the

simultaneous purchase of Series E savings bonds.

The principal terras and conditions for purchase and

redemption and information on investment yields of the savings

notes appear in the Treasury Bulletins of b4arch 1967 and June

1968.

Table 1. — Sales and Redemptions by Periods


66

.OWNERSHIP OF FEDERAL SECURITIES.Treasury Bulletin

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


End of

fiscal yearor month

TotalFederalsecuri-ties out-

standing

1/

1 -terest-bvarini? c-'-.-i^urities issued by the U.S. Government

Totalout-standing

iield by U.S. Governmentinvestment accounts 2/

TotalPublicissues

Specialissues

Held byFederalReservebanks -

public

Held by privateinvestors J_/

Public-

market-ableissues

Publicnon-

market-ableissues

Interest-bearing securities guar-anteed by the U.S. Government 4/

Totalout-standing

Held by

U.S.

Governmentinvestmentaccounts

Held by

privateinvestors

2/

Matureddebtand

debtbearingno

interest

1959

1960196119621963

196i1965196619671968

1966-December.

.

1967-JulyAugust ....


.

November .

.

December.

.

1968-January. .

.

February .

.

MarchAprilMayJune

July

284,817

286,471289,211298,645306,466312,526317,864320,369326,733348,147

329,814

331,158336,374336,418341,027345,634345,208

346,813352,107350,033347,545352,863348,147

351,652

281,833

283,241285,672294,442301,954307,357313,113315,431322,286344,401

325,021

327,132332,409332,447337,041341,570341,194

342,812348,314346,136343,615348,902344,401

347,940

54,554

55,25956,00256,29658,20660,96463,23666,618

75,70579,045

68,685

75,37377,14376,34875,85276,17375,932

74,62676,32475,79175,69278,22279,045

78,236

9,799

10,36010,95911,35713,40514,337U,58615,49719,54919,518

16,692

19,16418,83318,60818,68518,80218,699

18,69619,08319,07918,736

19,06619,518

19,351

44,756

U,89945,043U,93944,80146,62748,65051,12056,15559,526

51,993

56,20958,30957,73957,16757,37257,234

55,93057,24256,71156,95759,15659,526

58,885

26,044

26,52327,25329,66332,02734,79439,10042,16946,71952,230

44,282

46,80446,55546,91647,39048,93149,112

49,09248,95249,69150,50750,62552,230

52,397

201,235

201,459202,417208,483211,721211,598210,776206,645199,862213,125

212,054

204,955208,712209,183213,800216,466216,U9219,094223,037220,654217,415220,055213,125

217,308

144,983

U9,546151,392157,418160,361159,575157,220153,566146,502156,941

159,152

151,098154,967155,211

159,295160,446160,763

163,594

167,336164,977161,574164,168156,941

161,327

56,252

51,91351,02551,06551,36052,02353,55653,07953,36156,185

52,902

110

139240

4U605812

589460512568

494

53,857

August 1968.OWNERSHIP OF FEDERAL SECURITIES.

67

Table 3. - Estimated Ownership of Federal Securities

{Par values 1/ in billions of dollars)

End of

month

TotalFederalsecuritiesoutstand-ing 2/

Held by banks

Commer-cialbanks

FederalReserveBanks

U. S.

Govern-ment in-vestmentaccoxints

Held by private nonbank investors

Individuals 4/

Savings bonds

SeriesE and H

Otherseries i,'

secu-rities

Insurancecompanies

Mutualsav-ingsbanks

Corpora-tions 6/

i^tate

andlocalgovern-ments

Foreignand inter-

national

1/

Other mis-cellaneousinvestors

1939-Dec

1946-Feb. 2/--Dec

1950-JuneDec

1951-JuneDec

1952-JuneDec

1953-JuneDeo

1954-JuneDec

1955-JuneDec

1956-JuneDec

1957-JuneDec

1958-JuneDeo

1959-JuneDec

1960-JuneDec

1961-JuneDec

1962-JuneDec

1963-JuneDec

196i-JuneDec

1965-JuneDec

1966-JuneJuly

AugSeptOctNovDec

1967-JanFebMarAprMayJuneJulyAugSeptOctNovDeo

1968-JanFebMarAprMay

June p, .

.

279.8259.5

257.

i

256.7

255.3259.5

259.2

267.

i

266.1275.2

271.3278.8

27i.i280.8

272.8276.7

270.6275.0

276.4283.0

28i.8290.9

286.5

290.

i

289.2296.5

298.6

30i.0

306.

5

310.1

312.5318.7

3i7.9321.4

320. i319.8324.9325.3327.4329.9329.8

329.4330.1331.5328.3331.4326.7331.2336.4336.4341.0345.6345.2

346.8352.1350.0

347.5

352.9348.1

15.9

93.874.5

65.661.8

58.461.6

61.163.4

58.863.7

63.669.2

63.562.0

57.3

59.5

56.2

59.5

65.367.5

61.560.3

55.362.1

62.567.2

65.267.2

64.464.3

60.264.0

58.360.8

54.853.855.054.855.355.557.5

57.857.458.157.2

56.455.558.360.261.163.663.563.9

63.163.962.2

60.0

60.959.2

2.5

22.923.3

18.320.8

.13.0

23.8

22.924.7

24.725.9

25.024.9

23.624.8

23.824.9

23.024.2

25.426.3

26.026.6

26.527.4

27.328.9

29.730.8

32.033.6

34.837.0

39.140.8

42.242.442.542.943.043.944.3

43.544.044.945.546.146.746.846.646.947.448.949.1

49.149.049.7

50.550.6

52.2

6.5

28.030.9

37.839.2

41.042.3

44.345.9

47.648.3

49.349.6

50.551.7

53.554.0

55.655.2

55.954.4

54.653.7

55.355.1

56.154.5

56.5

55.6

58.458.0

61.160.6

63.461.9

66.766.469.369.268.0

68.968.8

68.269.670.770.474.675.875.577.2

76.475.976.2

76.0

74.776.475.9

75.8

78.379.1

135.1130.7

135.6134.9

132.9131.8

130.8133.4

135.0137.3

133.3135.1

136.7142.3

138.3138.2

135.9136.1

129.9134.8

142.6150.3

U9.3H5.8

U3.3U5.9

U7.3150.4

151.7154.3

156.4157.1

157.1158.0

156.7157.2153.1158.4161.1161.6159.3

159.9159.2157.3155.2154.3

U3.7150.6152.4152.0154.1157.0156.2

160.0162.8162.3161.3

163.1157.6

10.1

64.164.2

67.466.3

65.464.6

64.865.2

64.8

64.863.5

65.265.0

66.665.9

66.364.9

64.463.7

66.369.4

69.766.1

64.665.9

65.766.0

66.168.2

68.869.8

70.972.1

73.173.473.974.775.475.374.6

74.974.674.072.771.970.970.871.472.573. 2r

73. 9r

74. Or

74. 5r

75. 2r

75. Or75.2

75.474.8

30.8

30.3

34.534.5

34.534.7

34.935.3

36.036.7

37.538.2

39.340.1

40.941.4

41.541.6

42.142.5

42.642.4

42.542.9

43.644.2

44.645.1

46.046.7

47.347.9

48.348.8

49.249.349.449.449.549.749.8

49.850.050.150.2

50.350.450.550.650.650.750.850.9

50.951.0

51.051.0

51.1

51.1

1.9

12.5

13.9

15.415.1

14.614.4

14.113.8

13.212.7

12.111.7

10.910.2

9.48.7

7.66.6

5.95.2

4.5

3.5

3.12.7

2.52.2

2.01.8

1.51.4

1.21.0

.9

.8

.6

.6

.5

.5

.4

.4

.4

.3

.3

.3

.3

.2

.2

.2

.2

.2

.2

.2

.2

.1

.1

.1

.1

.1

,1

20.820.1

17.616.7

16.315.5

15.716.0

16.815.4

15.213.6

15.014.8

16.315.8

17.216.7

16.416.0

19.323.5

24.120.5

ia.6

19.5

19.019.2

18.620.1

20.320.8

21.622.5

23.323.524.024.825.425.324.5

24.724.323.722.321.420.420.220.721.722. 3r22 .9r

23. Or

23. 5r

24. Ir23. 8r24.1

24.3

23.7

Source: Office of Debt Analysis in the Office of the Secretary.1/ United States savings bonds, Series A-F and J, are included at

current redemption value.2/ Securities issued or guaranteed by the U. S. Government, excluding

guaranteed securities held by the Treasury.

2/ Consists of commercial banks, trust companies, and stock savingsbanks in the United States and in Territories and island possessions.Figures exclude securities held in trust departments.

6.3

24.424.9

19.818.7

17.116.5

15.716.0

16.0

15.9

15.415.3

15.014.6

13.613.2

12.712.5

12.212.7

:i2.6

12.5

12.011.9

11.411.4

11.411.5

11.011.3

10.911.1

10.

b

10.4

9.79.79.79.79.69.79.6

9.5

9.39.29.09.08.78.78.78.78.88.7

8.7

8.5

8.2

3.1

11.1

11.8

11.610.9

10.29.8

9.69.5

9.59.2

9.1

8.7

8.5

8.48.0

7.97.6

7.47.3

7.36.9

6.66.3

6.36.1

6.36.1

6.1

5.8

6.0

5.7

5.85.,

5.15.05.05.04.84.84.7

4.54.64.54.34.34.24.24.24.24.1i.P

4.2

4.14.24.24.1

4.1

4.0

2.2

19.9

15.3

18.419.7

20.120.7

18.8

19.9

18.621.5

16.519.1

18.623.2

17.318.7

16.117.7

14.118.1

1°.3

21.4

19.518.7

18.518.5

18.2

13.6

18.718.7

18.918.2

15.315.8

14.2

14.3

U.513.8

U.916.0

U.9

U.714.7U.l12.913.611.1

11.912.410.711.6r13. Or

12. 2r

13. 4r

14. 8r

14. 2r13.7

15.8

13.2

.4

6.76.3

8.78.8

9.49.6

10.411.1

12.012.7

13.9

14.4

U.715.4

16.116.3

16.816.6

16.316.5

16.918.0

18.818.7

19.319.0

20.120.1

21.521.1

22.521.2

24.1

24.525.125.025.225.2

25.125.0

24.825.025.125.225.125.024.725.124.924.624.525.1

25. 6r26. 4r27. Or26.8

26.7

26.5

2.42.1

3.5

4.3

4.24.3

4.75.3

5.75.9

6.06.3

6.S

7.5

7.9

7.8

7.67.6

6.57.7

10.112.0

12.313.0

12.713.4

U.l15.3

15.815.9

15.616.7

15.7io.7

15.415.3

15.415.215.2

15.4

U.5

14.0U.l14.515.015.0

U.7U.4U.3U.7U.816.215.

8

15.415.21'. .7r

14.714.0

13.0

4/ Includes partnerships and personal trust accounts.^ Discontinued series. See savings bonds tables.6/ Exclusive of banks and insurance companies.

2/ Consists of the investments of foreign balances and internationalaccounts in the United States.

8/ Consists of savings and loan associations, nonprofit institutions,corporate pension trust funds, and dealers and brokers.

2/ Immediate postwar debt peak. p Preliminary. r Revised.

68

.TREASURY SURVEY OF OWNERSHIP, JUNE 30, 1968.

Treasury Bulletin

The monthly Treasury Survey of Ownership covers secu-

rities issued by the United States Government and by Federal

agencies. The banks and insurance companies included in the

Survey currently account for about 90 percent of all such

securities held by these institutions. The similar proportion

for corporations and for savings and loan associations Is 50

percent, and for State and local governments, 70 percent.

Data were first published for banks and insurance companies

in the May 1941 Treasury Bulletin, for corporations and

savings and loan associations in the September I960 Bulletin,

and for State and local governments in the February 1962

Bulletin.

Holdings by commercial banks distributed according to

Federal Reserve member bank classes and nonmember banks are

published for June 30 and December 31. Holdings by corpo-

rate pension trust funds are published quarterly, first

appearing in the March 1954 Bulletin.

Section I - Securities Issued or Guaranteed by the United States GovernmentTable 1. - Summary of All Securities

Aagust 1968.TREASURY SURVEY OF OWNERSHIP, JUNE 30, 1968

69

Section I - Securities Issued or Guaranteed by the United States Government

Table 3. - Interest-Bearing Public Marketable Securities by Issues

(Par values - in millions of dollars)

Totalamountoutstpnd-ing

Held by investors covered in Treasury Survey

5.847commer-cialbanks

2/2/

Insurance companies

501mutualsavingsbanks2;'

294life

^66 fire,

casualty,andmarine

^88savingsand loanassocia-tions

/.69

corpo-rations

State and localgovernments

316generalfunds

188pensionand re-tiresnenti'

funds

U.S. Govern-ment invest-ment accountsand FederalReserve banks

911

Otherinves-tors 4/

Memorandum;Held by

25,920corporatepensiontrustfunds 5/

Treasury bills :

Regular weekly and annual

maturing:June 1968-Sept. 1968.

.

Oct. 1968-Dec. 1968..

Jan. 1969Feb. 1969Mar. 1969Apr. 1969May 1969

Total Treasury bills. .

.

Treasury notes :

l-l/A% Aug. 1968-C..

5-lA Nov. 1968-D.

.

5-5/8 Feb. 1969-A.

.

5-5/8 May 1969-B.

.

6 Aug. 1969-C..

5 Nov. 1970-A..

5-3/8 Feb. 1971-C..

5-l/.i May 1971-A.

.

5-3/8 Nov. 1971-B.

.

4-3/4 Feb. 1972-A.

.

4-3/4 May 1972-B.

.

5-3/4 Ncv. 1974-A.

.

5-3/4 Feb. 1975-A.

.

6 Hay 1975-B.

.

1-1/2 Oct. 1968-EO.

1-1/2 Apr. 1969-EA.1-1/2 Oct. 1969-EO.1-1/2 Apr. 1970-EA.

1-1/2 Oct. 1970-EO.1-1/2 Apr. 1971-EA.

1-1/2 Oct. 1971-EO.

1-1/2 Apr. 1972-EA.1-1/2 Oct. 1972-EO.1-1/2 Apr. 1973-EA.

Total Treasury notes

Treasury bonds :

2-1/2^ Dec. 1963-68.2-1/2 June 1964-69.2-1/2 Dec. 1964-69.2-1/2 Mar. 1965-70.2-1/2 Mar. 1966-71.2-1/2 June 1967-72.2-1/2 Sept. 1967-72.2-1/2 Dec. 1967-72.

3-3/4 Aug. 1968. . .

.

3-7/8 Nov. 19684 Feb. 1969

4 Oct. 19694 Feb. 19704 Aug. 1970

4 Aug. 1971....3-7/8 Nov. 1971

4 Feb. 1972

4 Aug. 1972. . .

.

4 Aug. 19734-1/8 Nov. 19734-1/8 Feb. 19744-1/4 May 1974. . .

.

3-7/8 Nov. 19744-1/4 Hay 1975-85.3-1/4 June 1978-83.

39.82018.6141,5001.5021,0001,0011,002

64.440

5,9368.984

10,7384,2773,3667.6752.5094.2651.7342,0065.3101.6525.1486.750

11561

15988

113

3572

343313

71.073

1.7882.5422.4892,2851.2241.2511,9522.6132.6401.1583.7286,2464.3814.1292,8062,7602,3442,5793.8944.3523.1293.5882.2411.2161.569

2,7991,650

777118

113

142

4.8

6431,1771.3192,2231,5582,4951,152948654829

1,190530

1,9061.052

29

28

73

i558

923

9152

17.966

571

1,3561,178933555440

1,149797825

327

9502.0151,8811,4711,0361,122

875867

1.4301.7241,2761.248

507

7472

206

14429

25

2

16

13

436

11

6070

107

69

193

736485

83

4361

11971

1.112

12

25

3027

1921

12

27

15

7

30105627866

408360

109

15510016731

3928

45449

410

112

5

2

3

1

11»

2

2

4108

197

1

1

2

81

916

132866

20

1968

47

4161217

915a2966

31

3731

29

34195

12637

1

7

29

4518

15167

13

7435

36

491670

451

2

2

1

4

630

5060

58

7850

3510687

3819

54135

9911776

6262

57

1751701331106331

26

40122022

23

7

18

698

31

73

9510885

155

9864

41

100101

55

233104

1,350

2026

24

15

14

37

57

757622

4914310912982

119112119164186146152107

24

a

81988059

16411516

69

9336

113226

4569

3

16

1629

28

3

7721

26

96126

301529

95

9

992

453200151

576

16107

4441510048204

1482911

102

a1

256

39

2.6571,367

15415458

10596

4,591

179279

184108117217

396237

10658

4882

482

1.565

21

16

36

2418

36

1414414475169321177

9381

1206283

15618271

61

10877166

304252

3

336

3

11

20

1

8

48

1

3

2020

100

49.2

2419

13

5

358

2

429

8

3913

134219

47a456749

160273

12,3815,963

570481491323

355

20.565

4.5136,1227,679

387

2361.517a3

1.838198363

2.877269

1.4494.395

32,057

217

a5535666205

12482

220462118.387722484U2620

474273530

557448556585691

424211

20,0828,283

579582306

399311

30,542

4601,2051,2281,0871.2392.833916

1.188662

447954659

1.17398757

20

2414197

16

14

15.218

430418451

432272

509

4051.117

652483

1.0332.5571.4021.714

811

693772816

1.1891.389759

1,129648354554

567936

5

423

26

724

6

43

34103453

1213a8

18

143824

329

141811

2

8

6

49203853

29

3427

22

2528

5446

3336241213

Footnotes at end of Section II. (Continued on following page)



Section I - Securities Issued or Guaranteed by the United States Government

Table 3. - Interest-Bearing Public Marketable Securities by Issues - (Continued)

(Par values - in millions of dollars)

Issues

Totalamountoutstand-ing

Held by investors covered in Treasury Survey

5,Si?commer-cialbanks

501mutualsavingsbanks2,'

Insurance companies

29ilife

^ho fire,

casualty,andmarine

488savingsand loanassocia-tions

corpo-rations

State and localgovernments

316generalfunds

188

pensionand re-tirementfunds

U.S. Govern-ment invest-ment accountand FederalReserve banks

Held by

allotherinves-tors ^

Memorandum:Held by25,920corporatepensiontrustfunds ^

Treasury bonds - (Continued)

i,% Feb. 19803-1/2 Nov. 1980

3-lA May 1985

i-lA Aug. 1987-92...

A Feb. 1988-93...4-1/8 May 1989-94...3-1/2 Feb. 1990

3 Feb. 19953-1/2 Nov. 1998

Total Treasujy bonds

Total public marketablesecurities

601908,1U,816249559880707

,341

91,079

226,592

14914477

190

17

167

23

60

25.504

48,340

698526

1436

21

302

49283

2.338

3.885

159386177

14533

102

890

a768

3,498

3,691

57

3723

212

4368916

26

2,451

3,25?

7261

111

1591041

13427

85

2.751

4.799

2,220

5.333

1331259388

5

36

37768

184

3,565

9.721

265

9497809

33517

78985

817

4,486

4.922

755'

723197

1,10370502

1,162159

911

941253314

96485

286969

1,2351.202

17.030 27.237

69.651 72.997

36207

907

1522

837

1,890

Footnotes at end of Section II.

Table 4. Interest-Bearing Public Nonmarketable Securities by Issues(Par values - in millions of dollars)

Aaqust 1968 71

.^TREASURY SURVEY OF OWNERSHIP, JUNE 30, iQfl«

Section II - Interest-Bearing Securities Issued by Federal Agencies but

Not Guaranteed by the United States Government




Not Guaranteed by the United States Government - (Continued)

August 1968

TREASURY SURVEY - COMMERCIAL BANK OWNERSHIP, JUNE 30. 1968^

73

The tables wnlch follow provide an analysis of the

security holdings of commercial banks reporting In the

Treasury survey of ownership of securities Issued by the

United States Government and by Federal agencies. The

flsTires show the total holdings distributed according to

Federal Reserve member bank classes and nonmemcer banks.

This analysis of commercial bank ownership was first

published In the May 194M- issue of the "Treasury Bulletin, *

based on the survey data for December 31, 19'+3. It has

appeared at semiannual or quarterly Intervals since that

time, and Is now being published for the June 30 and De-

cember 31 survey data.

Section I - Interest-Bearing Securities Issued or Guaranteed by the United States Government

Table 1. - Summary of All Securities

74Treasury Bulletin

.TREASURY SURVEY - COMMERCIAL BANK OWNERSHIP, JUNE 30 1968

Section I - Interest-Bearing Securities Issued or GuaTanteed by the United States GovernmentTable 3. - Public Marketable Securities by Issues

(Par values - In millions of dollars)

Iss

Treasury b,111_^

:

Regul'ir ueekly and annualmatui'ing:

June 1965-Sept. 1963..1968-Deo. 1968..196919691969lOc"

1969

Oct.

Jan.Feb.Mar.

Apr.Hay

Total Treasury bills

Treasury notes :

5-lA5-5/85-5/86

5

5-3/85-1/45-3/8

4-3/i

5-3/45-3/461-1/^1-1/21-1/21-1/21-1/21-1/21-1/21-1/21-1/21-1/2

Aug.

Nov.

Feb.MayAug.

Nov.Feb.

MayNov.Feb.

MayNov.Feb.

MayOct.Apr.

Oct.

Apr.Oct.

Apr.Oct.Apr.

Oct.

Apr.

196S-C.

1968-D.

,

1969-A.

.

1969-B..1969-C.1970-A.

.

1971-C..1971-A..1971-B..197:.-A.

.

1972-B .

.

1974-A.

.

1975-A.

.

1975-B.

.

1968-EO.1969-EA.1969-EO

.

1970-EA.1970-EO.1971-KA.1971-EG.1972-EA.1972-EO

.

1973-EA.

Total Treasury notes.

Treasury2-1/2^2-1/22-1/22-1/22-1/22-1/22-1/22-1/2

3-3/43-7/8

44444

3-7/8

4444-1/84-1/84-1/43-7/84-1/43-1/4

bondsDec.

JuneDec.

Mar.

Mar.JuneSept.

Dec.

Aug.Nov.

Feb.Oct.Feb.

Aug.

Aug.

Nov.

Feb.Aug.

Aug.

Nov.Feb.

MayNov.

MayJ\ine

1963-68.1964-69

.

1964-69.1965-70.1966-71.1967-72.1967-72.1967-72.19681968196919691970197019711971197219721973

19731974197419741975-85..1978-83..

Held hy'".,847

commercialbanks 1/

2,799i,6';o

777118

113

142

4,8o9

64 3

1,1771,3192,223l.'.SS

2,4^51,1'^?

•148

ii54

826

1,1905,(0

l,QOu1,0S.7

?9,•8

7J

4-J

17,96(.

571

1,3561,178^33

4401,145

7978253:"'

7

'.I'l:"

l,,^ftl

1,,711,0361,122

8758h7

1,430l,7,-'4

1,2761,248

507

7472

3,649

memberhanks

2,1301,287

50

5312

102

133

3,768

1,0881,Q29

,3241,9 V.

943676528729

94241;

1,577882

2425

67

4452

7

19

9

14

14,721

4391,2231,042844505390

1,026726

704253768

1,6101,5481,147

853959759750

1,258

1,4841,1371,062

4346861

Federal Re.-erve mt";iibar banks

184 Reserve Cloy

12

New Yorkrity

375376

%

101

6

91

858

21809837422796110268467

15532

277169

»

7

1

1,827

3784477817

3061

114129

6

7486

11482

n

71

206297310193252147

169

14821

2

7616

433

35

9

33

8458

3

16

156227

3

5766

1

2

474

4341

75

4428

19

3030

3

61

26262

130

9

1982

83112

15

Footnotes a» --nd of Section II.

163

other

646302

6

182

3

11

-88

227

345373767

441451244103

131284187141379

2373

6

15

1421

3

41

4,3:-!

15?

oil520

451257I64500

33024338

.'22

407505275252323288157378467547368

1543737

3,465country

9404' .0

24248

1816

1,489

243

493609755572

1,329585

531236317572

239864409lb11

493031

415

7

7,98i;.

240453

156152437263302179470

1,05690?

763568

452390368501

6243854402512424

2 , 198nonmemberbanks

66Q

36326186

10

8_

1,101

104

224231294234561210273126100

248115

329170

5

3

6

1

5

2

4

3,245

132

13313689

5050

11°

72

121

74

182

405

334

3

183

163116117172

240139186

736

12

(Continued on following page)

Aagust 1968 75

TREASURY SURVEY - COMMERCIAL BANK OWNERSHIP, JUNE 30, 1968.

Section I - Interest-Bearing Securities Issued or Guaranteed by the United States Government

Table 3. - Public Marketable Securities by Issues - (Continued)

t Par values - in millions of dollars)

Issues

Treasury bonds - (Continued) :

1% Feb. 19803-1/2 Nov. 1980

i-l/i. May 1985

4-1/i Aug. 1987-9?

i Feb. 1988-934-1/8 May 1989-943-1/2 Feb. 1990

3 Feb. 19953-1/2 Nov. 1998

Total Treasury bonds

Total public marketablesecurities

Footnotes at end of Section II

.

Held by

5.847commercialbanks 1/

149

14477190

2

171672360

25,504

48.340

Federal Reserve member banks

3,649memberbanks

13213164

1542

141491949

21.7d3

40,252

184 Reserve city

12

New YorkCity

23

9

15

42

2

22

2.50S

5,193

Chi^Qfr'*

36

90n

i ,857

163other

41

58

27

441

949

3

13

7,934

13.311

3.465countrv

68

5422321

3

77

15

35

10,416

19,891

.-',193

nonmember

17

13

1336S

3

18

411

3.742

Table 4. - Public Nonmarketable Securities by Issues


.TREASURY SURVEY - COMMERCIAL BANK OWNERSHIP, JUNE 30, 1968.


Not Guaranteed by the United States Government

(Par Values - millions of dollars)

Issues

Banks fcr cooperatives5.60

5.655.805.906.20

Total.

JulyAug.

Oct.

Nov.

Dec.

19681968196819681968

(Debentures)

.

(Debentures).(Debentures)

.

(Debentures)

.

(Debentures)

.

Federal home loan banks:

5.15%5-7/8

5.705.8'

5-5/85-1/25.855-3/8

6-1/i6.306

6

6

6

Total

.

JulyAug.

Sept.

Oct.

Nov.

Jan.

Feb.

Mar.

Apr.

Jxine

SeptFeb.

Mar.

Apr.

196819681968196819681969

196919691969196919691970

1970

1970

(Notes).

(Notes).(Notes).

(Notes).(Bonds).

(Bonds).(Notes).

(Bends).(Notes).(Bonds).

(Bonds),(bonds)

.

(Bonds).

(Bonds).

Federal intermediate credit banks :

(Debentures)

Federal land banks:

i-l/8«i-1/2A-l/A5-1/2

5.954-3/44-3/85.604-5/84-1/46-1/44-1/45-3/46.305-1/83-1/26.206

5-1/83-1/23-7/85-7/84-1/84-1/24-3/85

5-3/S5-1/8

5

Feb.

Oct.

Aug.

Oct.

Dec.Jan.

Mar.

Apr.

JulyJulySept.

Oct.

Jan.

Feb.

Feb.

Apr.

Apr.

JulyJulyMaySept.

Oct.

Feb.

Feb.

Apr.Feb.

JulyApr.

Jan.

1967-721967-70196819681968196919691969196919691969196919701970197019701970197019701971

197219721973-78

197419751976197619781979

(Bonds).

(Bonds).(Bonds).(Rends).

(Bonds).(Bonds).

(Bonds).(Bonds).(Bonds).(Bonds).(Bonds).(Bonds).(Bonds).

(Bonds).(Bonds),(bonds).(Bonds).

(Bonds).(Bonds).(Bonds).

(Bonds).(Bonds).(Bonds).

(Bonds).(Bonds).(Bonds).(Binds).(Bonds).

(Bonds).

Total.

Held by

5,847commercialbanks 1

/

50

51

53

241

67

100744247427926

49

84

7333

55

51

5

7

29

10246

73

3057

53

57

87

8

25

956445

10381721

28

98

13

5S

1 . 049

3.649

memberbanks

19

46

39

3338

4376

59

32

303061

20

36

744922

39

33

i

5

23

732861

5

56

5

25

4241

3560o

17

64463

4

7

26

1418

2066

11

U756

Federal Reserve meir,ber banks

185 Reserve city

12

New YorkCity

2^

9Chicago

3

11

1

1

6

1

28

J^

163

other

10

15

15

7

b

20

15

3

45

19

2

626-

5

3

6

13

132

3

6

2

7

101

716

16

3

11

6

4

_i5b.

3,465country

26

17

<?5

34

49

3828

2424

341626

19

4318

30

22

40'.

38-

3

4

18

57

26

53

4U3

17

23

2530

4668

60

37

31

42510

11

12

45

418

560

2,198nonmemberbanks

3

18

il

1816

24

241510

16

1318

6

13

10

24

11

15

2

?

6

29

1826

417

1

5

15

12

22

27

2

7

31

18

1n

3

13

3

3

8

32

2

14

Footnotes at end of table. (CLintinued on following page)

August 1968

.TREASURY SURVEY - COMMERCIAL BANK OWNERSHIP, JUNE 30, 1968-

Section II - Interest-Bearing Securities Issued by Federal Agencies butNot Guaranteed by the United States Government - (Continued)

(r&r values - in millions of dollars)

h' Includes trust corapanies and stock savings banks but excludes securi-ties held in trust departments.

^ United States savings bonds. Series J are reported to the TreasurySurvey at maturity value but have been adjusted to current redemption

77

78

.MARKET QUOTATIONS ON TREASURY SECURITIES, JULY 31, 1968.

Treasurij Bulletin

Current market quotations shovm here are over-the-

counter closing bid quotations in the New York market

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

the Treasury by the Federal Reserve Bank of New York.

The securities listed include all regularly quoted publicmarketable securities issued by the United States Treas-ury. Securities issued by Federal agencies and guaranteedby the United States Government are excluded.

Table 1. - Treasury Bills

Amount outstanding(miili ^ns)

August 1968 79

.MARKET QUOTATIONS ON TREASURY SECURITIES, JULY 31, 1968.

Table 3. - Treasury Bonds

(Price decimals are 320^3)


MARKET QUOTATIONS ON TREASURY SECURITIES, JULY 31. 1968

August 1968AVERAGE YIELDS OF LONG -TERM BONDS

81

Table 1. -Average Yields of Treasury and Corporate Bonds by Periods

(Percent per annum)

-rea^^ury

bonds 1/

Moody ' s Aa

corporatebonds

Treasurybonds 1/

Moody's Aaa

corporat'-

bonds

Treasurybonds 1

'

Moody' s Aga

corporatebonds

Ar;nu^.l series - calendar year averages of monthly series

IV-W19i519i619i719i8194919501951

2.4-8

2.372.192.25

2.U2.312.322.57

2.622.532.612.822.662.622.86

IV 5 3

195419551956

195719581959

.55

.84

.03

.47

434.08

2.961

,

202 , 903.063.3fc

3.89

4.38

19601<=61

1962

19631964196519'30

14d7

4.02


AVERAGE YIELDS OF LONG -TERM BONDS,

ooQQ

LU

OHoa.(X.

8

(/)Q_iUJ>-

UJ

LU

3

Q

August 1968 83

INTERNATIONAL FINANCIAL STATISTICS.

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 1967 Bulletin to increase the usefulness

of this section.

Table 1 has been revised to include in the reserve assets

of the United States its reserve position in the International

Monetary Fund. In accordance with Fund policies the United

States has the right to draw foreign currencies equivalent to

this amount virtually automatically if needed. (Under appro-

priate conditions the United States could draw additional

amounts equal to the United States quota of $5,160 million.)

This revised presentation corresponds to the treatment of

United States monetary reserves in the United States balance of

payments accounts.

Table 2 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 1 requires that the "holdings of

dollars" of the Fund be excluded from the data on liabilities

to foreigners, in order to avoid double counting. For further

explanation of this change in the liabilities statistics, see

headnote to "Capital Movements" section.

Table 3 (formerly Table 5), presenting an area breakdown

of United States liquid liabilities to official institutions

of foreign countries, has been revised to include holdings of

convertible nonmarketable United States Government securities

with an original maturity of more than one year.

Table <V (formerly Table 2) is virtually unchanged and

shows United States Treasury nonmarketable bonds and notes

issued to official institutions of foreign countries.

Table 5 sets forth the factors which affect the United

States position in the International Monetary Fund.

Table 6 (formerly Table 3) presents United States net

monetary gold transactions with foreign countries and inter-

national and regional organizations. The former Table U,

which presented the estimated gold reserves and dollar holdings

of foreign countries and international institutions, was

discontinued in the May 1967 Bulletin.

Table 1. - U.S. Reserve Assets: Gold Stock, Holdings of Convertible Foreign Currencies,

and Reserve Position in the International Monetary Fund

', In millions of dollars)

End of

calendar yearor month

Totalreserveassets

Gold E'_ock 1/

Total

2/

Cunvert-ible

foreigncurrencies

1/

Reserveposition in

InternationalMonetary Fund

V

1959.1960.

1961.

1962.

1963.

1964.

1965.

1966.1967.

Iv67-JulyAugust. . . .

Septemoer.

October. .

.

November.

.

December.

.

1968-January..

.

February.

.

MarchAprilMayJune

July.

24,83222,54021,50419,35918,75317,22016,84316,672

15,45014,882U,830

14,224

U,60514,64914,92715,43814,830

14,62014,790

13,92613,84014,348

U.063

14,366

22,85720,58219,50717,80416,94716,05715,59615,47113,806 y13,23512,065

13,13613,07513,07713,03912,965

12,065

12,00311,900

10,703

10,54710,468

10.681

10,676

22,7R1

20,53..

19,45617,76716,88915,97815,51315,38813,733 y13,15911,982

13,10813,00813,00612,90512,90811,982

11,98411,882

10,484

10,484

10,38410,367

10,367

116

99212

432781

1,321

2,345

719

1,1621,2001,5092,092

2,345

2,1762,235

2,746

2,804

3,3862,479

2,773

1,997

1,5551,6901,0641,035769863 y326420

369368372379

381

420

441655

477

489

494

903

917

1/ Includes gold sold to the United States by the International Monetary ^Fund with the right of repurchase, and gold deposited by the Interna-tional Monetary Fund to mitigate the impact on the U.S. gold stock offoreign purchases for the purpose of making gold subscriptions to theFund under quota increases. For corresponding liabilities see Table 2.

2/ Includes gold in Exchange Stabilization Fund, which is not included in yTreasury gold figures shown in daily Treasury statement. See "Accountof the Treasurer of the United States," Table 4.

y Includes holdings of Treasury and Federal Reserve System.

In accordance with Fund policies the United States has the right to

draw foreign currencies equivalent to its reserve position in theFund virtually automatically if needed. Under appropriate conditionsthe United States could draw additional amounts equal to the UnitedStates quota. See Table 5.

Reserve position includes, and gold stock excludes, $259 million goldsubscription to the Fund in June 1965 for a U.S. quota increase whichbecame effective on February 23, 1966. In figures published by the

Fund from June 1965 through January 1966, this gold subscription wasincluded in the U.S. gold stock and excluded from the reserve position.

84

INTERNATIONAL FINANCIAL STATISTICSTreasury Bulletin

Table 2. - U.S. Liquid Liabilities to Foreigners


End ofcalendar yearor month

Totalliquidliabil-itiesto allfor-eigners

Liabilities to InternationalMonetary Fund arising fromgold transactions

Golddeposit1/

Goldinvest-ment

Liabilities to foreign countries

Official institutions ^Short-

August 1968.INTERNATIONAL FINANCIAL STATISTICS.

85

Table 3. - U.S. Liquid Liabilities to Official Institutions of Foreign Countries, by Area 1/


End of

86

INTERNATIONAL FINANCIAL STATISTICS.Treasury Bulletin

Table 5. - U.S. Position in the International Monetary Fund


Calendar yearor month

Transactions affecting IMF holdings of dollarsduring period

U.S. transactions with IMF

Paymentii

of

subscrip-tions in

dollars

i^et

goldsalesby IMF1/

Drawingsof

foreigncurren-cies 2/

IMF netincome

dollars

Transactions by'"t'>i> r countries

with IMF

Drawingsofdollars

Repay-mentsin

dollars

Totalchange

IMF holdingsof dollars atend of period

Percentof

U. S.

quota

U. S.

reservepositionin IMFat end ofperiod

2/

19i6-5V19531959I960196119621963

196i1965

19661967


SeptemberOctober.

.

November.December.

1968-January.

.

February.March . . .

.

AprilMayJune

July

1.031

S'-' ' '

150

525

i35680

-i5-2

2

111617

16

18

12

1520

2,664-252-139

-U9-822-110

-19i-282-232

-159-lU

-3

-1

-3

-10-A

-39

-2A-216-23

-U-7

-i08

-!

827271

U2580521719207

5

77517

1,336

1X2-135626

29266165

1,313-9i

-2

1

-k-7-2

-39

-21

-214178

-12

-5

-409

775

7922,1282,5702,4353,061

3,0903,3563,5214,8344,740

4,791i,7924,788

4,7814,7794,740

4,719

4,5054,683

4,671

4,6664,257

4,243

28

29

5262

59747581

85

9492

939393

939392

91

8791

91

9083

1,9751,95s1,9971,5551,6901,064

1,035769863 2J326420

369368

372379

381420

441

655Lrn489

494

903

917

Note: The initial U.S. quota in the International Monetary Fund was $2,750million. The U.S. quota was increased to $4,125 million in 1959, and to$5,160 million in February 1966. Under the Articles of Agreement,subscription payments equal to the quota have beeri made 25 percent ingold and 75 percent in dollars.

1/ Represents net Fund sales of gold to acquire U.S. dollars for use inFund operations. Does not include transactions in gold relating togold deposit or gold investment (see Table 2).

2/ Represents purchases from the Fund of currencies of other members forequivalent amounts of dollars. The United States has a commitment torepay drawings within 3-5 years, but only to the extent that the Fund'sholdings of dollars exceed 75 percent of the U.S. quota. Drawings ofdollars by other countries reduce the U.S. commitment to repay by anequivalent amount.

y Represents the United States gold tranche position in the Fund (theUnited States quota minus the Fund's holdings of dollars), which isthe amount that the United States could draw in foreign currenciesvirtually automatically if needed. Under appropriate conditions, theUnited States could draw additional amounts equal to the United Statesquota.

J Represents $600 million IMF gold sale to United States (1957), less$6 million gold purchase by IMF from another member with U.S. dollars(1948).

V Includes $259 million gold subscription to the Fund in Jixie 1965 fora U.S. quota increase which became effective on February 23, 1966.In figures published by the Fund from June 1965 through January 1966,this gold subscription was included in the U.S. gold stock andexcluded from the reserve position.

August 1968 87INTERNATIONAL FINANCIAL STATISTICS,

Table 6. - 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)


.CAPITAL MOVEMENTS.

Background

Data relating to capital movements between the United

States and foreign countries have been collected since 1935,

pursuant to Executive Order 656O of January 15, 193^, Execu-

tive Order 10033 of February 8, 1949, and Treasury regulations

promulgated thereunder. Information on the principal types of

data and the principal countries is published monthly in the

"Treasury Bulletin." Reports by banks, bankers, securities

brokers and dealers, and nonbanking business concerns in the

United States are made initially to the Federal Reserve Banks,

which forward consolidated figures to the Treasury. Thesestatistics are consolidated by the Treasury and published as

promptly as possible.

The reporting forms and instructions used in the collec-

tion of the statistics have been revised a number of times.

The most recent general revision became effective with reports

covering data as of May 31, 1963.1/ A detailed descriptionof the content of the statistics, including the changes insti-

tuted in 1963, appeared in the July 1963 issue of the "Treasury

Bulletin," pages 79-81. As a result of changes in presentationintroduced in that issue, not all breakdowns previouslypublished will be exactly comparable to those now presented.

Basic definitions

The term "foreigner" as used in the Treasury reportscovers all institutions and individuals domiciled outsidethe United States, including United States citizens domiciledabroad and the foreign subsidiaries and offices of UnitedStates banks and business concerns; the central governments,central banks, and other official institutions of foreigncountries, wherever located; and international and regionalorganizations, wherever located.

In general, data are reported opposite the foreigncountry or geographical area in which the foreigner is domi-ciled. Data pertaining to branches or agencies of foreignofficial institutions are reported opposite the country towhich the official institution belongs. Data pertaining tointernational and regional organizations are reported oppositethe classification "International," "European regional,""latin American regional," or "Asian regional," as appropriate,except for the Bank for International Settlemen-^s and theEuropean Fund, which are included in the classification "OtherWestern Europe."

"Short-term" refers to obligations payable on demandor having an original maturity of one year or less, withoutdeduction of any offsets. "Long-term" refers to obligationshaving an original maturity of more than one year, and in-cludes securities having no contractual maturity.

Exclusions

The data published herein do not cover all types ofcapital movements between the United States and foreigncountries. The data reported to and published by the TreasuryDepartment exclude entirely the intercompany capital trans-actions of business enterprises in the United States withtheir own branches and subsidiaries abroad or with their for-eign parent companies; such transactions are reported bybusiness firms to the Department of Commerce. Data on thecapital transactions of the United States Government and onshipments and receipts of United States currency are alsoexcluded from the Treasury reports. Certain capital trans-actions not effected through reporting institutions, such assecurities transactions carried out entirely abroad, are notrecorded in the Treasury reports. Consolidated data on all

types of capital transactions are published by the Departmentof Commerce in its regular reports on the United Statesbalance of payments.

The liabilities data exclude U.S. Treasury letters ofcredit, and nonnegotiable, noninterest-bearing special notesof the United States held by the Inter-American DevelopmentBank and the International Development Association.

Beginning with the May 1967 Bulletin, data on short-termliabilities to foreigners have been revised to exclude theholdings of dollars of the International Monetary Fund derivedfrom payments of the United States subscription and from theexchange transactions and other operations of the Fund.(Liabilities representing the "gold investment" of the Fundcontinue to be included.) This change in the treatment of theFund's "holdings of dollars" is related to the revision of the

table on United States monetary reserve assets (see "Inter-national Financial Statistics" section, Table 1) to include theUnited States reserve position in the International MonetaryFund.

The Fund's "holdings of dollars" do not represent UnitedStates liabilities to foreigners in the same sense as do otherreported liabilities to foreigners. They are more accuratelyviewed as contingent liabilities, since they represent essen-tially the amount of dollars available for drawings from the

Fund by other member countries. Changes in these holdings(arising from United States drawings and repayments of foreigncurrencies, from drawings and repayments of dollars by othercountries, and from other dollar operations of the Fund) giverise to equal and opposite changes in the United States goldtranche position in the Fund, which in the absence of UnitedStates lending to the Fund, is equal to the United Statesreserve position. Since the reserve position is included in

United States reserve assets, it is necessary, in order to

avoid double-counting, to exclude the Fund's "holdings ofdollars" from United States liabilities to foreigners. Thisrevised presentation conforms to the treatment of these itemsin the United States balance of payments and the internationalinvestment position of the United States.

The data on securities transactions and on foreignholdings of U.S. Government bonds and notes exclude non-marketable U.S. Treasury notes, foreign series, and non-marketable U.S. Treasury bonds and notes, foreign currencyseries (see "International Financial Statistics" section.Table A).

Presentation of statistics

Data collected monthly on the Treasury Foreign ExchangeForms are published in three sections. Section I provides a

summary of the principal data by period; Section II presentsdata by country and by period; and Section III shows detailedbreakdowns of the latest available preliminary data.

Beginning with the May 1967 Bulletin, publication of theformer Section I, Table 1, "Net Movements of Banking Fundsand Transactions in Long-Term Securities with Foreigners" wasdiscontinued. Due to numerous breaks in the statisticalseries, the usefulness of this table had become increasinglylimited in recent years. Time series of the significant cate-gories of data reported on the Treasury Foreign Exchange Forms,from which this table was derived, are available elsewhere inthis section.

Section IV presents supplementary data which are reportedless frequently than monthly but which are published monthly.

1/ Copies of the reporting forins and instructions may be obtained from the Office of Balance of Payments Programs, Operations and Statistics, Office ofthe Assistant Secretary for International Affairs, Treasury Department, Washington, D.C. 20220 or' from Federal Reserve Banks.

Atufust 1968.CAPITAL MOVEMENTS.

89

Section I - Summary by Periods

Table 1. - Banking Liabilities to and Claims on Foreigners 1/

(Position at end of period in millions of dollars)

End ofcalendar yearor month

WAS.1946.

1947.

1948.

1949.

1950.

1951.

1952.

1953.

1954.

1955.

1956.

1957.

1958.

1959.

1960.

1961.

Short-term liabilities to foreigners 2/

Totalshort-termliabil-ities 2/

1961 6,/.

19621963....

1964 2/ 10/.

1965 IJ/....

1966 12/....

1967 12/

.

1967-June.

JulyAugustSeptember. .

.

OctoberNovember. ...

December 13/

1968-January.

.

February.March. . . .

April. . .

.

tfay p VJJune p . .

.

6,883.16,475.35,519.36,326.66,329.37,340.27,077.89,257.910,265.611,353.911,894.913,796.814,383.315,366.817,261.218,701.420,015.220,097.521,958.022,877.1

Payable in dollars

Foreign countries

Officialinsti-tutions

4,179.03,043.71,831.92,836.32,907.73,615.53,547.64,654.25,666.96,770.16,952.88,045.47,916.68,664.99,154.310,212.310,893 .2

Foreignbanks

10,893.311,915.312,436.9

2/

y2/

2,064.02,528.22,569.82,529.32,530.42,943.1

5/3,362.91/3,413.0

3,460.54,601.14,704.85,299 .5

Otherfor-eigners

Inter-nationalandregional2/

5,380.45,251.05,713.0

25,517.8 2/ 13,220.3 2/7,213.4 2/

25,550.7

27.723.727,599.3

30,697.3r30,546.0

27,337.3

27,794-528,494.9r28,833.Sr29,959.4r31,249.7r30.697.3r30,546.0

30.700.230,947.530,096.630,582.1

13,065.9

11,967.5

7,359.7

10,022.9

12,022.5

13,924.313,916.5

12,377.3

12,438.812,357.612,664.913,192.714.185.313,924.313.916.5

13,601.513.788.012,741.212,824.9

30,745.6 14/ 12,060.330,159.2 n 10,546.3

9,864.0

ll,134.8r

9,277.2

9,632.310,495.7r10,555.3rll,187.7r11, 409. Orll.i34.8r

10,994-8

11,478.211,533.711,600.711,959.913,056.0 Uj13,805.0

2,678,

2,922,2,972,

2,947,3,001,

1,392,

1,513,1,675,

1,779,

1,805.

1,783.2,029.2,252.

2,430.2,398.2,2292,3552,356.2,564.3,046.

468.8664.9472.9369.1223.3316.7296.7246.5205.2175.

309.

742.

751.

1,030.

1,U1,

Payableinforeigncurren-cies

1,316.61,316.62,083-91,547.0

3,376.39/1,618.0

3,587.2

3,743.35,743.3

4,126.24,ia7.7

3,825.2

3,812.4r3,830.33,906.83.982.54,076.44,126.24.127.7

4,045.64.090.94,085. Ir

4,079.44,054-4,172-8

1,478.6

1,380.61,380.6

1,282.91777779"

1,361.8

1,408-51,378.61,328.11,314.71,347.91,282.9

31)^1

] ,277.9

1,283.51,227.11,346.31,418.4,254.8

1,311-7

25-540.649.770.451.0

44-972.261.443.743.240.348.859.059.477.2

113-1150.4

Totallong-termliabil-ities

1.44.':>

1.0

1.8? 7

2

1.2

9.91.6.8

7.52.2

Short-term claims on foreigners

Totalshort-termclaims

'14S.

1 ,018.

150.4 2i143.4 lA134-1 2|

89.9 2/

59.3

609. 4 7/

229.1 7/

495-8 7/'

502-6432-2378-7 7/281.7231.1229.1 7/229.1 7/

291.4307.7323.3 7/299.5320.1

323. 42/

2.27.3

(ft.i.

310.2

513.5

,494.0

2.500.7

.".472.3

2.458.12,524.0

2,314.32.283-9

2,344-7

2,500.7

2.502.62,519.5

2,554.72,615.22,712.2

2,732.8

9681,048904

1,3861,5481,9452,1992,5422,6243,6144,7624,820.5,163.

5,974.7,4tf'.

Payable in dollars

Loans to:

Officialinsti-tutions

4/

4/4'4'-'

73.486.187.9

85.2•'43-0

160.9176.6241.9400.7350.9290.3328.5

Foreignbanks

328.5358.9186.0

223-37,9577,631

.2 10/ 220.8,7 271.2

7,734,

7,818,

511

7,853-4

8.611.1

8.261.4

8,231.98,281.98,337.88,267.58,360.4

597.38,611.1

8, 44].

7

8,538.48,397.38,393.68.333.6 U/ 268.

3

8,261.6] 285.9

271.2

256.5256.5

306.3306.3

252.6

260.8286.9270.7269.5263.8306.3306.3

292.9302.9305.9278.3

6/

7/

8/

2/

100.3

319.6292.9361.2222.7151.1177.2122.9

156.5206.5328.1405.4385.5439.4497.6524.3699.4709.2952.6954.9

1,373.61,402.51,565.91,567.1

730.3

1,739.3

1,602.61,615.7

1,553.2

1,482.81,496.81,594.61,555.91,565.61,602.61.615.7

1,556-91,651-91,526-91,563-41,620.91,613.1

Otherfor-eigners

4/4/

L/4'

104.2109.8131.7109.8142.0235-6330.4303.0427.5460.

1

482.1617.6622.4641.8773.9

1,054. 6

1,149.81,130.41,132.01,143.31.144.9

1,241-61,241-6

1,111.3

1,127-21,134-11,181.01,151.71,204.01.241.61.241.6

1,227-11,215.41,215-61,194-01,200.61,162.3

Otherclaims

245.0290.5490.6557.1494.3328.7503.4627.9

451.5584-1660.0883-8

1,121.61,076.71,098.21,837.82,531.12,573-92,652.93,429.44,158.84,559.64,190.24,272.24,260.14,295.6

5,022.25,022.9

4,944-5

4.946.24,853-74,869-84,857-24,916-95,022.25,022.9

4,962.25,002.25,024-0

Payablein

foreigncurren-cies

47-598.1165.

4

100.4110.8240.691.878.4

101.

211.

163.

149.

147.197.7217.2479.6585.6

Totallong-termclaims

5357r557.1630.8659.0

175.6140.7227.5187.7216.7390.4403.9440.5324-9440.9670.9839.4

1,173.81,362.11,545.11,698.42,033.8

624.5474.0491.9419.84507

424.6424-6

399-7

415.0510.4421.8433.2410.0424-6424-6

402.6366.1325-0

5,011.1 346.8

4,922.813021.14,875-3 325-1

2,033-82,160.43,029.8 8/3,971.44,284.7 10/

4,516.9

4,179.7

3,894.8

3,839.0

3,843.13,893.93.910.73,980.43.960.8

3,894.8

3,832.83,767.43,692.63,756.23,771.6 Uj3,718.9

For exclusions see headnote on page 88.

Data exclude the "holdings of dollars" of the International MonetaryFund. For explanation see headnote on page 88.

Included with "Other foreigners."Included with "Otlier claims."Beginning in August 1956 and also in April 1957, certain accountspreviously classified as "Foreign banks" are included with "Official

institutions,

"

Differs from 1961 end of year data on the preceding line by inclusion

of liabilities and claims reported by a number of banks Included in

the series beginning December 31, 1961.

Includes reported liabilities to foreign official institutions begin-

ning October 1961. Figures for selected dates are as follows:

end 1961. $46.3 million; end 1962, $47.9 million; end 1963, *30.1million; end 1966, $516-5 million; end June 1967, J428.7 million;end September 1967, $303.6 million; end December 1967, $151.8 million;

end March 1968, $217.3 million; end June 1968, $217-3 million.

Includes claims previously held but first reported as of May 31, 1963;as of that date such claijns amounted to $85.6 million. Also includeslaims amounting to $193-2 million reported by banks for the firstLime as of December 31, 1963, representing in part claims previouslyr.eld by banks but not reported-Short-term liabilities include a net increase of $50.8 million arisingfrom changes in reporting coverage, distributed as follows: "Officialinstitutions" -$4-0 million, "Foreign banks" "$60.3 million, "Otherforeigners" +$22-5 million, and "Payable in foreign currencies"

-$27.9 million.10/ Data on claims below the line differ from claims above the line be-

cause of the exclusion as cf December 31. 1964 of $58-1 million ofshort-term U-S. Government claims previously Included; and because

of the addition of $545.9 million of short-term claims and $313-3million of long-term claims arising from the inclusion of claimspreviously held but first reported as cf December 31 » 1964, and from

revisions of preliminary figures.11/ Data on claims below the line differ from claims above the line be-

cause of the addition of short-term claims held in custody for

domestic customers but reported by banks for the first time beginningDecember 31. 1965. and short-term claims reported by banks reporting

for the first time.

12/ Data on liabilities and claims below the line differ from data above the

line because of changes in reporting coverage and classification effec-

tive December 31, 1966, and because of revisions of reported data

beginning December 31, 1966.

13/ Data on libilities and claims below the line differ from data above the

line because of changes in reporting coverage effective December 31, 1967.

14/ Includes liabilities and claims previously held but first reported as of

May 31, 1968, as follows: total short-term liabilities $22.9 million,

of which $21.6 million due to foreign banks, and $1.2 million due to

"other foreigners"; total short- terra claims $19.2 million; and totallong-term claims $75.7 million,

p Preliniinary.

r Revised.


.CAPITAL MOVEMENTS.


Table 2. - Purchases and Sales of Long-Term Domestic Securities by Foreigners 1/

(In millions of dollars; negative figures indicate a net outflow of capital -from the United States)

Calendar yearor month

U.S. Government bonds and notes 2/

Purchases

Net purchases

Foreign countries

Official Other

Interna-tionalandregional

Corporate and other

Bonds 1/

Netpurchases

Purchases Sales Netpurchases

Met

purchaserof

domesticsecurities

1946

19i719i819491950195119521953

195i195519561957195819591960196119621963

196i196519661967

I96S-Jan. -June p

1967-June

JulyAugustSeptember. .

October. . .

.

November. .

.

December. .

.

1968-January. . .

.

February. .

.

MarchAprilMay pJune p

ai.53ii.3282.4430.0

1,236.4673.6533.7646.0800.9

1,341.1883.4666.1

1,223.91,216.91,729.61,743.71,779.91,867.11,149.41 , 077 .

2

680.2585.4

218.7

29.5

11.73'3.7

21.516.251.319.0

43.662.732.714.1

42.523.1

684.2283.3330.3333.6294.3

1,356.6231.4728.0792.7812.1

1,018.3718.3

1,187.6528.0

1,603.01,231.52,507.91,196.21,487.11,153.01,296.0

628.9

562.9

24.1

y^.o

16.67.7

71.28.8

221.6

104.4124.5

5.936.1

20.4

-269.761.5-47.996.4

942.1-683.0302.3-82.08.2

529.0-135.0-52.136.3

688.9126.6512.2

-728.0670.9-337.7-75.8

-615.8-43.5

-344.3

5.4

.1

-19.34.98.6

-19.910.2

-178.0

-a. 8-91.8

8.2-43.5

2.7

-269.7-13.0-55.4

9.4824.2-663.7

292.7-96.7-60.0

561.7-204.9117.0-236.7

523.9-97.9-20.0

-206.6369.1

-58.7-19.6

-245.248.4

-362.8

-6.0

-2.6

-191.4-65.0

-103.0

-2.8

-.5

36.1

95.156.429.5

55.6

3.46.5

4.88.4

-13.810.3

12.723.011.1

8.0-1.92.8

74.57.5

87.0117.9-19.39.6

14.768.3-32.770:0

-169.1273.0I64.9224.5532.2

-521.4301.8

-315.2-151.2-427.0-121.4

-37.1

-3.3

-3.3-19.8

.2

.2

-3.5-.1

.7

.3

.2

-38.8

.4

i/1/2/i/

107.7120.0200.1212.8289.7324.7287.1310.2361.4368.8

442.4316.9307.7255.746O.7675.0

1,577.92,242.6

1,801.6

226.5

252.8

159.4325.9187.9132.3178.3

249.8385.6206.6238.8586.5224.3

1/2/

108.3141.6188.5197.4283.6296.0251.8258.9344.0296.239.-'. 3

416.1359.0246.4284.4636.7

5a.

9

1,929.1

1,021.6

185.1

137.3146.7217.8433.6310.296.4

127.7125.1

174.5207.0214.2173.2

1/

1/-.6

-21.611.715.36.1

28.735.351.317.372.650.1

-99.2-51.3

9.3176.338.3

1,036.0313.5

870.0

41.4

115.512.7108.1

-245.8-177.8

81.9

122.1260.532.131.8

372.451.1

367.6226.1369.7

354.1666.9739.8650.2589.1

1,115.11,561.21,619.51,306.41.397.32,224.41,976.53,067.32,260.22,724.03,076.23,719.94,740.58,029.4

5,772.6

699.7

690.0717.2782.8772.3750.4855.8

893.5641.5882.0

1,049.41,182.51,123.7

43;. 1

376.7514.1375.3664.0619.5649.2533.9980.2433.7363.5163.8453.6861.5774.8744.6

2,149.12,526.53,425.34,133.25,073.87,276.1

4,757.9

1.35.8

602.81-46.0

640a714.2611.4698.2

726.5563.5634.6788.7

1,100.4944.2

-64.5-150.6-144.3-21.2

2.9120.3

1.0

55.2135.0127.5256.0142.6-56.3•362.9

201.732P.7111.1197.5-349.1-413.3-333.3

753.4

1,014.7

63.9

87.271.2142.758.1

139.0i57.7

167.078.0247.3260.882.1179.5

-334.2-89.1

-192.275.2

944.4-584.3314.9-11.5

149.3685.2156.4ia.8-2.7

1,124-4378.4735.7-668.2877.8

-510.'^

-450.886.9

1,023.4

1,540.4

110.7

202.3

64.6255.7

-170.1-58.7249.8

111.1

296.8187.6300.8410.9233.3

1/

2/

For exclusions see headnote on page 88.

Through 194.9, includes transactions in corporate bonds.2/ Through 19^9, included with transactions in U.S. Government bonis

and notes. p Preliminary. ** Less than $50,000.

August 1968.CAPITAL MOVEMENTS.

91


Table 3. - Purchases and Sales of Long-Term Foreign Securities by Foreigners

(In millions of dollars; negative figures indicate a net outflow of capital from the United States)

Calendar yea.' or monthForeign bonds

Purchases SalesNetpurchases

Foreign stocks

Purchases SalesNetpurchases

Totalpurchases

Totalsales

Net purchasesof foreignsecurities

19^6

19i719iS

19i919501951195219531954195519561957195819591960196119621963

196i1965196619i 7

1966-Jan.-June p

1967-June

JulyAugustSeptember.

.

October. ...

November . . .

,

December. ...

19^-January. ...

February. . .

,

MarchAprilMay PJune p

p Preliminary.

755.9658.7211.6321.2589.2500.4495.3542.5792.4693.3606.5699.0889.0945.6882.9801.9

1,093.3990.5914.8

1 , 198 .

1

1,778.32,025.8

1,137.7

2'<7.9

I'll.. 5

lUe.T350.2195.2lll.Q122.5

8U.9157.''

325.'*

165.1.

305.2

99.''

490.4634.3291.4311.5710.2801.0677.4621.5841.3509.4991.5

1,392.01,915.11,457.61,445.01,262.42,037.32,086.01,843.12,440.12,692.53,191.1

l,71l'.l

309.1

315.3225.11.81.1*

326.011.1.9

266.1.

261..2

269.11.18.5

362.0185. U

21!.. 9

265.524.5-79.89.8

-121.0-300.6-182.1-79.0-48.8183.9-385.0-693.1

-1,026.1-512.0-562.1-460.

4

-944.0-1,095.4

-928.3-1,242.1

-91I..2

-1,165.3

-576.1.

-61.1

-171.3-78.'.

-131.3-130.8-30.01I.3.9

-179.2-111.7-93.1-196.7119.8

-115.5

65.257.181.788.8173.8272.3

293.9310.1

393.3663.6749.2592.8467.2566.1509.1595.7702.0695.6748.4906.2

960.2880.1.

502.1

71.2

67.667.180.

8

77.57I..9

91.. 3

68.1.

70.1109.773-287.2

03.1.

65.642.696.770.8198.2348.7329.6303.4

6a.9877.9875.2621.9803.7803.8591.7965.6805.9644.3548.2616.6731

A

,037.1

605.7

95.0

69.0106.012U.691.189.1.

155.1

79.179.6

11.7.8

78.9109.6

110.'^

-.414.6-15.018.0

-24.4-76.4-35.8

6.8-251.6-214-3-126.1-29.1

-336.4-237.7-82.6

-370.0-103.9

51.2200.3289.5

228.8-156.8

-103.6

-23.8

-1.1.

-'9.0-1.3.8

-13-7-11..

5

-60.8

-10,

-9.

-38,

-5.

-22,

-17,

821.2715.9293.3410.1763.0772.7789.1852.7

1,185.81,356.91,355.71,291.81,356.21,511.71,392.01,397.61,795.31,686.11,663.22,104.2

2,738.52,906.1

1,639.8

310.1

212.1213.81.31.0

272.71S6.9216.8

153.1*

227.51.35.1

238.6392.1.

192.8

556.1676.8388.2382.3908.4

1,149.71,007.0924.9

1,486.11,387.31,866.82,014.02,718.82,261.52,036.72,228.02,843.22,730.32,391.33,056.7

3,1.23.8l.,228.2

2,319.7

I.OI..I

38I..8

331.2606.01.17.1

231.31.21.5

31.3.3

31.8.7

566.31.1.1.0

295.1

325.1.

265.139.0-94.827.8

-145.4-377.0-217.9-72.2

-300.4-30.4

-511.1-722.1

-1,362.5-749.7

-6u.7-830.4

-1,047.9-1,044.2

-728.1-952.5

-685.3-1,322.1

-679.9

-8U.9

-172.7-117.1.

-175.0-ll.U.1.

-1.I..1.

-201.. 7

-199.9-121.2-131.2-202.3

97.3

-132.6

92Treasury Bulletin

.CAPITAL MOVEMENTS.

Section II - Summary by Countries

Table 1. - Short-Term Banking Liabilities to Foreigners 1/

^Position at end v>i period in millions of dollars)


93

Section II - Summary by CountriesTable 2. - Short-Term Banking Claims on Foreigners V

94

.CAPITAL MOVEMENTS-Treasury Bulletin


Table 3. - Long-Term Banking Claims on Foreigners

I, Position at end of period in miiiions of dollars J

Country

Calendar year

1964 1965 1966 1967

l'^68

February Marcfi April May p .1/ June p

Europe :

AustriaBelgium-Luxembourg 2/Derjnark

FinlandFranceGermanyGreeceItalyNetherlands ^

NorwayPortugalSpainSwedenSwitzerlandTurkeyUnited KingdomYugoslaviaOther Western Europe 2/U.S.S.R 7

Other Eastern Europe

Total Europe

Canada

Latin America :

ArgentinaBrazilChileColombiaCubaMexicoPanamaPeruUruguayVenezuelaOther Latin American Republics..Bahamas and BermudaNetherlands Antilles and SurinamOther Latin America

Total Latin America

\sia:China MainlandHong KongIndiaI:.donesia

IsraelJapanKoreaPhilippinesTaiwanThailandOther Asia

Total Asia

Africa :

Congo ( Kinshasa

)

MoroccoSouth AfricaUnited Arab Republic (Egypt)Other Africa

Total Africa

Other countries :

AustraliaAll other

Total other countries

Interna,tlonal and regional ,

Grand total ,

13-i.9

86.556.866.166.3

159.550.3

382.

7

15.227.;. 8

B2.173.1109.1

37.3.8

37.^

3.319.9

Aagust i%8.CAPITAL MOVEMENTS.

95


Table 4. - Net Transactions in U.S. Government Bonds and Notes by Foreigners!^

iTrj thousands c-f iollars: noeative figures indicate net sales by foreigners or a net outflow of capital from the United States)

Coxintry1965

'''ilendqr year

1966 1967

1968throughJune p

January February

1Q68

March April May p

Europe :

AustriaBelgiuro-Luxembourg 2/DenmarkFinlandFranceGermanyGreeceItalyNetherlandsNorwayPortugalSpainSwedenSwitzerlandTurkeyUnited KingdomYugoslavia '.

Other Western Europe 2/U.S.S.ROther Eastern Europe

Total Europe

Canada

Latin America :

ArgentinaBrazilChileColombiaCubaMexicoPanamaPeruUruguayVenezuela. . . -.

Other Latin American Republics...Bahamas and BermudaNetherlands Antilles and Surinam.Other Latin America

Total Latin America

Asia :

China MainlandHong KongIndiaIndonesiaIsraelJapanKoreaPhilippinesTaiwanThailandOther Asia

Total Asia

Africa :

Congo ( Kinshasa

)


Total Africa

Other countries :

AustraliaAll other


International and regional :

InternationalEuropean regionalLatin American regionalAsian regional

Total international and regional.

Grand total

1/ For exclusions see headnote on p

126

-f;^o

-3.''

-24

508

1,11^^

-^8,86622

la-15,719

9,99817

13^,205

78A

-172

85,8^6

-U,280

2^32-6

19

-6^7138-76-28

lU1Q770<^

1,130

1,606

-10

12

11

101

3,98A

-61

1

-2,0^6

16

A8

68o

77

-U8,393

-2,722

-151,115

-75,8^2

-29

-U3-1,101

za-92-20

356-1,301l,9i2

3

429-254

3,768

-205,275

615

-178

-201,339

15,638

-139-6

12

2

270620-29-7

135-219

-1,896-798-62

-2,117

-49-5

-U6-23

-105

25

-216

-51°

1

3

-506

-19-7

-428,682

1,718

-426,964

-615,829

33-203

-867

-35

1,215-63

7,835-268

16-30

-215-22

-1,534

31,8a

189

-88

37,7Q9

23,990

51

-127

582-119

10

34-510-289

lU

-318

-509

11

1«5-2

-12

12,611

12,294

4,186

4,ig6

-81,583

-40,339502

-121,420

-43,471

-1-550-229

1,000-67-4

-2,981-91

-4,613

-958

2,000-367

51,933

-14,167

-41

30,864

-338,681

-105-19

104

-223-1,078

-5

24148119

1,426

365

-262

25

10885

-3

-460

98

2^3

-39, 130

2,220

-37,110

-344,268

-1

-105

91

16-100-501

355

9,480

-U

9,221

-139,045

-19

-229

1617

18-109

1,489

1,183

-131

724

724

-178,048

57

-2,9912

-1,100

15

209

25,485

-17

-41

21,d19

-63,450

-6

158

79

45

-29

43

-3-460

-421

263

263

-41,762

6

-59

-7

-3

420

-37

16

-154

7,872

-12,997

-5,339

-«,625

104

-1,135

17

10-25

1

-1,028

35

10

79

124

-130

168

38

-91,829

-61-50

-7

-902

2,000-32

7,765

=53r

-13

6

-119

-125

20

232

232

8,225

-495-15

1,000-211

-11

-13-2,982

-95

259

-3,200

-639

-6,402

Wei

39-22

81110

1

215

20-10

885

-39,200

403

-38,797

-43,544

,ge 88. 2/ Through 1967, Luxembourg included in "Other Western Europe."

p Preliminary.


.CAPITAL MOVEMENTS.Section II - Summary by Countries

Table 5. - Net Transactions in Long-Term Domestic Bonds,

Other Than U.S. Government Bonds and Notes, by Foreigners

(In thousands of dollars; negative figures indicate net sales by I'oreigners or a net outflow of capital from the United States)

Country

Calendar year

1965 19o6 I'^Gl

1968throughJune p

1^68

February March April May p

Europe :

AustriaBelgium -LuKembourg l/.

.

DenmarkFinlandFranceGermanyGreeceItalyNetherlandsNorwayPortugalSpainSwedenSwitzerlandTurkeyUnited KingdomYugoslaviaOther Western Europe l/U.S.S.ROther Eastern Europe—Total Europe.

Canada

Latin America :

ArgentinaBrazilChileColombiaCubaMexicoPanamaPeruUruguayVenezuela . . ,<.

Other Latin American Republics—Bahamas and BermudaNetherlands Antilles and Surinam.Other Latin America

Total Latin America.

Asia

:


Total Asia.

Africa :

Congo ( Kinshasa

)


Total Africa.

Other countries i

AustraliaAll other

Total other countries.


InternationalEiiropean regionalLatin American regional...Asian regional


Grand total

3^3

8,203

-3,59-i7

17,0^3^,o65

7

-^,362

50

23,051606922

3,20751,195

-87

-123,^30

1,2^1

Auqast 1968 97

.CAPITAL MOVEMENTS.


Table 6. - Net Transactions in Domestic Stocks by Foreigners

(In thousands of inllars; negative


.CAPITAL MOVEMENTS.


Table 7. - Net Transactions in Long-Term Foreign Bonds by Foreigners

(In thousands of dollars

August 1968

.CAPITAL MOVEMENTS.


Table 8. - Net Transactions in Foreign Stocks by Foreigners

(in thousands of dollars; negative figures indicate net sales by foreigners or a net outflow of capital from the United States)

Country

AustriaBelgiuiR-Luxerabourg 1/DenmarkFinlandFranceGermanyGreeceItalyNetherlandsN orwayPortugalSpainSwedenSwitzerlandTurkeyUnited KingdomYugoslaviaOther Western Europe 1/U.S.S.ROther Eastern Europe

Total Exirope

Canada

Latin America :

ArgentinaBrazilChileColombiaCubaMexicoPanamaPeruUruguayVenezuelaOther Latin American Republics...Bahamas and BermudaNetherlands Antilles and Surinam.

Other Latin America

Total Latin America

Asia:China MainlandHong KongIndiaIndonesiaIsrael :

JapanKoreaPhilippinesTaiwanThailandOther Asia

Total Asia

Africa :

Congo ( Kinshasa

)

MoroccoSouth AfricaUnited Arab Republic (Egypt)

Other Africa

Total Africa

Other countries :

AustraliaAll other



InternationalEuropean regionalLatin American regional

Total international and regional

Grand total

I'^'D?

-13

^,96721U-261

-17,729

27,i595

789

90,199-116

85

1,0785,631U,736

205

^,600-505

uo

131,^16

16^,116

-67

^8112615

-7,916

-79i3^8

-370

89

159-10,929-1,045

-100

-l'-S77Q

L1,575

-38

3

1459,177

-1,012-13

1

224

Calendar year

10,Q66_

-16-30

-291-7

-155

-499

100

.CAPITAL MOVEMENTS.

Treasury Bulletin


Table 9.- Estimated Holdings of U. S. Government Bonds and Notes

August 1968 101

.CAPITAL MOVEMENTS.

Section III - Preliminary Details by Countries

Table 1. - Short-Term Banking Liabilities to Foreigners as of June 30, 1968 1/

(Position in thousands of dollars)

Countr7

Totalshort-termliabiUties

Short-term liabilities payable in dollars

To foreign banks and official institutions

Deposits 2/

U. S.

Treasurybills andcertif-icates

Other

To all other foreigners

Deposits 2/

U. S.

Treasurybills andcertif-icates

Other

Short-termliabilitiespayablein

foreigncurrencies

Europe :

AustriaBelgium-LuxembourgDenmarkFinlandFranceGermanyGreeceItalyNetherlandsNorwayPortugalSpainSwedenSwitzerlandTurkeyUnited KingdomYugoslaviaOther Western EuropeU.S.S.ROther Eas tern Europe

Total Europe

Canada

Latin America :

ArgentinaBrazilChile ,

ColombiaCubaMexicoPanamaPeru ,

UruguayVenezuelaOther Latin American Republics...Bahamas and BermudaNetherlands Antilles and Surinajn,

Other Latin America

Total Latin America ,

Asia :

China MainlandHong KongIndiaIndonesiaIsraelJapanKoreaPhilippinesTaiwan ,

ThailandOther Asia

Total Asia

Africa :

Congo (Kinshasa)MoroccoSouth AfricaUnited Arab Republic (Egypt)Other Africa

Total Africa

Other countries :

Australia,

All other



InternationalEuropean regionalLatin American regional

,

Asian regional

African regional

Total international and regional

Grand total

163,616a9,53518i,807150,179

1,262,2a1,701,565151,963937,5672U,671/110,663

337,713

1<W,163509,866

1,7^0,5552i,807

6,966,42051,035

297,U64,839iO,082

15,793,733

2,841,722

429,276257,904245,353200,588

7,619788,764150,084277,592138,290742,429591,701219,34499,45824,846

4,173,248

36,209243,U3383,91673,909

143,0032,536,905

172,145270,610196,002689,364654,941

5,400,417

21,43721,02346,80019,452

261,284

369,996

239,23329,101

268,334

1,216,46610,17674,171lo,7r:i

17:

1,311,705

30, 15°, 155

158,471366,803

172,785145,179

1,177,1531,625,913

112,317943,416U5,724379,564257,22782,514

490,4421,458,969

21,2306,738,104

50,046133,1674,61533,127

14,501,766

2,524,007

123,025176,67781,838104,720

934473,26121,01384,59028,855

285,151307,573

1U,96530,9171,764

1,835,283

30,587103,498354,11066,188

133,2802,492,569

168,283184,013180,396682,041536,249

4,931,214

18,99117,865

39,4i216,675

218,240

311,213

227,73220,090

247,822

1,216,40810,17674,09110,719

171

1,311,565

25,662.870

31,502256,576

69,63947,682573,975247,45768,874359,530113, /103

102,566251,83168,529

102,999528,81720,965

6,274,26815,21586,9584,35334,612

9,259,751

2,101,525

94,197133,09481,277

103,347934

235,11720,21782,08928,396

283,340187,789102,66620,0781,509

1,374,050

30,58774,58752,65565,883108,632

1,067,931148,646153,587129,400267,727229,482

2,329,117

8,14417,39337,37813,609

137,176

213,700

111,07215,966

127,038

146,1788,95032,9877,419

171

195,705

15,600,886

1/ For exclusions see headnote on page 88.

2/ Grand total includes $12,249,340 thousand of demand deposits and

$3,351,5i6 thousand of time deposits, but excludes negotiable time

certificates of deposit, which are included in "Other."

74,50085,523

62,61015,600519,797

1,063,28917,026517,30312,81945,028

2

372,445134,977

17178,99232,90042,860

13

3,175,701

282,773

1,622129

1

1

68,003

23

8

39,545

5,4754,704

119,511

794283,708

42,251

455,468

8,500407,403133,780

1,291,9

10,600

3

2,75072,841

86,194

95,57412

95,586

1,004,730

6,8003,300

1,014,830

6,066,503

52,46924,704

40,53681,89783,381

315,16726,41766,58319,502

231,9705,394

13,98514,998

795,175248

284,8U1,931

3,349262

3,502

2,066,314

139,709

27,206

43,454560

1,372

170,141796

2,478459

1,80380,2396,8246,135

255

341,722

28,11717,747

301

22,397969,17019,63730,42642,4966,911

172,987

1,310,189

247472

2,061316

8,223

11,319

21,0864,112

25,1°8

65,5001,226

34,304

101,030

?.°°5.481

5,00651,386

11,4024,99978,622

69,62539,59243,03932,85630,94580,43861,20918,386

265,6673,577

198,475986

12,403224

1,955

1,010,792

305,291

305,75980,684

163,42495,8506,685

313,398124,637192,983109,418457,221284,11093,90368,54123,060

2,319,673

5,622139,80029,0557,7219,72343,3493,862

86,31415,6067,322

115,850

464,224

2,4463,1587,0562,777

42,971

58,408

9,3175,065

14,382

58

140

4,172,910

4,42644,982

10,6014,99870,31060,11237,22738,05923,24829,40379,861

57,44318,106

126,6563,549

136,484957

12,119224

1,891

760,656

261,460

302,05878,942

162,37593,3876,565

293,057100,909187,45799,419453,531274,19481,61548,98222,732

2,205,223

5,622

134,69428,5777,7219,40840,2673,756

82,lU15,5537,308

111,379

446,429

2,4462,5957,0432,777

41,583

56,444

8,8214,572

13,393

58

140

3,743,74?

571

51

226

5,3046,8741,0611,4563,483

85347

2957

12,74728

20, 169

132

29

53,333

17,225

3

367

319172

1201,885

79327

295644

4,7254,368

22

13,740

509

75

179

2,413

3,176

79

79

952

97

87,650

9

6,353

5751

3,0082,6391,3043,5246,125

689

5303,471

273126,264

41,82229

152

35

19 n, 803

26,606

3,6Q8

1,375730

1,291

18,45622,9355,4999,9993,3959,2727,563

15,1'Sl

306

100,710

4,597478

3153,007

106

3,99153

142,058

14,619

563

13

1.309

1,

401491

341.51?

^ Grand total includes $1,69^^., ^36 thousand of demand deposits and

$2,0-i9,309 thousand of time deposits, but excludes negotiable time

certificates of deposit, which are included in "Other."


.CAPITAL MOVEMENTS.

Table 2.


Short-Term Banking Claims on Foreigners as of June 30, 1968 1/

(Position in thousands of dollars}

August 1968 103

.CAPITAL MOVEMENTS.

Section III - Preliminary Details by CountriesTable 3. - Long-Term Banking Liabilities to and Claims on Foreigners as of June 30, 1968


CountryTotallong-termliabilities

Totallong-termclaims

Long-term claims payable in dollars

Loans

Long-termclaimspayable inforeigncurrencies

Europe:

AustriaBelgium -Luxembourg .

.

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

Total Europe

Canada

Latin Aitieri ca:

ArgentinaBrazilChileColombiaCubaMexi CO

PanamaP eruUruguayVenezuelaOther Latin American Republics...Bahamas and BermudaNetherlands Antilles and Surinam.Other Latin America

Total Latin America

Asia :


Total Asia

Africa;

Congo (Kinshasa)MoroccoSouth AfricaUnited Arab Republic (Egypt).Other Africa

Total Africa

Other countries:AustraliaAll other



InternationalEuropean regionalLatin American regional...Asian regional . .

.


Cirand total

50020350

3551,556

11,022

139122iSi

5

19716

2,3U29

26210

60

17,05^

^81

;'37,98^

25,1391,098U8

191,8U1,085

603

23127,119

1,819

6,25^5,299

5^8,921

-i33

1,096

U9,177569,^76^4,000

29,610191,721^22 , 701

1,^^55,378

2

25677159

?63

<i9,06510,17i^

f,0 ,' ~xo

37i,500

256,05020,300

650,850

5,7i561,9i53,U2

51,3U36,asa,6il8i,87739,767

861

99,39232,10A63,25622,0365,39i1,342

65,47912,24020,146

19,609

666,765

401, 9iO

137,63589,23354,64860,320

582,40266,426145,15648,55286,410

127,28522,98613,9192,240

1,437,212

1,19343,9602,47623,150

151,663136,634210,559

7,92319,413

113,677

710,648

648

99938,1824,619

170.575

215,023

248,74735.896

284, u43

2,688

2 68?

5,74561,9453,142

51, 3U36,44541,63784,68839,767

86199,39232,10463,25622,0365,3941,342

65,47912,24020,146

19,609

666,572

397,126

137,63589,23354,64859,911

578,00366,426U5,15648,55286,213

127,28522,98613,9192,240

1,432,207

1,19343,9602,476

23,150151,663136,634210,301

7,9231^',413

113, "'44

709,057

648qQQ

38,1824,61'J

170.575

215,023

247,96535.896

283,861

2,688

5,24161,9453,06751,10036,17341,14884,35338,326

7

99,39029,10759,11921,9544,5341,320

53,67611,35419,820

19,609

641,243

353,266

121,25160,955

53,41854,788

544,14266,191139,93848,37679,741

124,90122,85013,8312,194

1,332,576

1,19043,1462,476

21,319138,27022,702179,0247,897

18,796107,803

542,623

648

99938,1214,588

163.672

208,028

245,55735.725

281,282

2,688

2,688

504

75

244272

489

33;

1,441354

2

2,9974,137

8286022

11,803886326.

16,38428,2781,2305,123

33,861235

5,218176

6,472

2,38413688

i6_

99,631

814

1,831

13,393113,93231,277

26617

5,441

167,334

6131

6.903

6,095

2,408171

2,579

4189

193

4,814

409

4,399

197

5,005

258

Jill.

691

782

782

2,732,786 3,718,91" ,707,43.. ?, 361, 706 345,72 11,485

104Treasury Bulletin

.CAPITAL MOVEMENTS.


Table 4. - Purchases and Sales of Long-Term Securities by Foreigners DuringJune 1968i/

(In thousands of dollars)


105

Section IV - Supplementary Data by Countries

Table 1. - Short-Term Liabilities to Foreigners Reported by Nonbanking Concerns

(Position at end of period in thoutandK of dollars)


.CAPITAL MOVEMENTS.


Table 2. - Short-Term Claims on Foreigners Reported by Nonbanking Concerns

(Position at end of period in thousands of d^llers

'

Country

Europe :

AustriaBelgium-Luxembourg 2/

DenmarkFinlandFranceGermaxiy

GreeceItalyNetherlandsNorwayPortiigal

SpainSwedenSwitzerlandTurkeyUnited KingdomYugoslaviaOther Western Europe 2/U.S.S.ROther Eastern Europe

Total Europe

Canada

Latin America :

ArgentinaBrazilChileColombiaCubaMexicoPanamaPeruUruguayVenezuela , , .<.

Other Latin American Republics....Bahamas and BermudaNetherlands Antilles and Surinam.

.

Other Latin America

Total Latin America

Asia :


Total Asia

Africa :

Congo ( Kinshasa

)


Total Africa

Other countries :

AustraliaAll other



InternationalEuropean regionalLatin American regionalAsian regional

Total international and regional...

Grand total

1966

7,8i5

i6,0568,3855,531

97,«3118,08211,109

117,83048,2898,4868,81856,25228,23319,88410,489

440,3771,9948,984

1102,586

1,046,823

566,436

34,38879,77330,98420,9243,010

73,74210,61430,2817,053

52,270

55,86412,3393,8488,586

423,676

144,82834,5872,8695,077

172,465

5,53915,9225,9077,731

76,314

331,253

2,0801,621

18,18610,63925,558

58,084

39,5416,988

46,529

29020

379

2,473,180

6,577

4^,8177,9955,527

93,82997,76218,149

110,571

a, 873

6,9697,582

63,12029,89820,0006,373

492,0561,8859,402974

4,838

1,070,197

550,379

35,03478,47430,96622,084

2,84678,861

12,59427,8975,098

49,289

54,5438,0742,9719,190

417,921

110

6,63829,2162,8743,564

154,8013,579

18,1564,2959,28076,332

308,845

1,4312,49917,91816,80327,369

66,020

45,1279,914

55,041

28769

231

587

2,468,990

oepteraber

7,212

41,56610,242

4,264102,442119,91915,207

106,99441,7998,6776,075

51,15227,23821,8896,236

598,7873,9889,182

1142,389

1,185,372

508,933

36,78672,67230,95820,945

2,64078,00412,10427,8426,222

49,364

59,34010,7524,06710,704

422,400

62

6,47932,3882,8194,568

145,8335,127

17,1084,61810,59269,103

298,697

1,7391,204

16,85911,38427,931

59,117

56,5296,611

63,140

468163300

331

138, "^OQ

December 1/

7, (-44

53,01513,705

4,121110,288

123,478r14,984

101,00047,9918,1806,677

'.1,143

36,03517,8765,935

579,1113,907

11,48873

2,189

l,20a.840r

489,397

39,27864,65431,77225,338

2,54394,76412,49731,095

6,95262,36460,28017,5404,4839,850

463,410

337,078

33,8706,5704,620

163,8955,084

17,4227,163

11,00674,649

331,390

1,6942,743

23,53110,78630,013

68,767

57,6008,049

65,649

34358

9

410

-3rl,''

8,396

62,88111,2574,470

121,123r

119,407r16,79298,06845,3646,5156,02675,82817,71326,3056,531

646,3914,24612,267

1532,874

I,2a2,o07r

481,925

39,04560,67429,92923,5522,473

96,00211,49631,480

6,51755,70362,22011,7564,5219,333

444,701

876,677

33,3414,9904,727

162, 0346,806

17,112

11,9979,94287,588

J45,°01

1,6073,015

16,0369,43131,771

61,860

53,7517,635

61,386

281

13

19

313

Note: Data are reported by exporters, importers, industrial and commercialfirms, and other nonbanking concerns in the United States. Data excludeclaims held through United States banks, and intercompany accountsbetween firms in the United States and their affiliates abroad. Thedetailed breakdown of the most recent data is shown in Table 3 of this.

9,205

39,3969,6625,266

101,977120,674r18,20780,38546,5216,9816,807

62,18918,23723,7358,380r

576,6063,04113,2121,2863,655

l,155,422r

494,355

34,94659,67131,31724,1702,422

124,999r10,27028,9748,64652,676'56,479r

20,8514,7639,736

469,920r

143

8 , 596

35,3754,6054,244

178,5456,207

22,5509,6218,150

78,583

356,619

1,7992,31616,3256,851

30,635

57.926

44,1406,134

50,274

408

426

Sept ember

o,bb3

45,347

9,2035,758

98,952110 , 829r

19,73592 , 689

U,7897,5225,584

77,03420,16324,1117,366

541,6623,319

12,5541,4912,854

l,137,625r

460.637

29,35474,62326,26820,2562,340

117,69513,52632,0676,31553,86159,14623,847r

4,6767,374

471,348r

115

11,15638,8192,6315,306

194,9417,923

21,5659,86410,24477,830

380,3'^4

1,862

1,59114,4956,689

29,587

54,224

43,5316,526

50,107

55412968

13

s.oOLir

8,41242,3829,1865,565

110,621134,04620,075103,05551,2607,6746,943

90,35923,80129,3498,597

689,9073,78813,9521,2826,966

1,367,220

5.'>4,583

28,69984,73133,51721,8522,104

113,81713,53428,9654,52558,69860,12123,180

6,60210,141

490,486

248,062

42,6423,3096,406

212,130

7,74426, 54110,818

9,50239,115

..16,293

2,6652,96414,4556,88031,122

53,086

56 , 868

7,128

63,996

208

10

1:

March p

20,36444,3999,6877,012

128,253128,21320,171111,03678,3929,6315,531

88,43426,37330,9138,586

1,026,8826,33512,4602,0427,846

1,772,565

499,275

28,57882,39831,07425,2821,915

111,46810,31827,6253,544

63,36857,47734,992

4,85011,286

494,175

1,1507,259

42,0324,9766,853

192,76111,39220,4739,28410,09185,369

391,640

3,9384,77216,769

4,77033,331

63,580

53,0119,243

62,254

4045524

Section.

1/ Data include $4,255 thousand of claims reported by firms reporting forthe first time.

2/ Through December 1967, Luxembourg included in "Other Western Europe."p Preliminary. r Revised.

Auoust 1968 107

-CAPITAL MOVEMENTS.Section IV - Supplementary Data by Countries

Table 3. - Short-Term Liabilities to and Claims on Foreigners Reported by Nonbanking ConcernsDetails as oi March 31, 1968p



.CAPITAL MOVEMENTS.


Table 4. - Long-Term Liabilities to Foreigners Reported by Nonbanking Concerns

(Position at end of period in thousands of dollars)

Country-



Table 5. - Long-Term Claims on Foreigners Reported by Nonbanking Concerns

109


.CAPITAL MOVEMENTS,


Table 6. - Foreign Credit and Debit Balances in Brokerage Accounts

(Position at end of period in thousands of dollars)

Country

Credit balances {due tn foreigners)

Liereinber

1965

Lecembor1966

June1967

December1967

Marc!"i

1968

Debit balances (due from foreignc-rs)

December1965

December1966

June

1967December

1967

Europe :

AustriaBelgium-Luxembourg 1/

DenmarkFinlandFranceGermanyGreeceItalyNetherlandsNorway ^

PortugalSpainSwedenSwitzerlandTurkeyUnited KingdomYugoslaviaOther Western Europe 1/

U.S.S.R Tother Eastern Europe

Total Europe

Canada

Latin America :

ArgentinaBrazilChileColombiaCubaMexinoPanamaPeruUruguayVenezuelaOther Latin American Republics..Bahamas and BermudaNetherlands Antilles and SurinamOther Latin America

Total Latin America

Asia :

China MainlandHong KongIndiaIndonesiaIsraelJapanKoreaPhilippines

,

Taiwan,

Thailand,

Other Asia,

Total Asia,

Africa :

Congo { Kinshasa

)

,

Morocco,

South Africa,

United Arab Republic (Egypt)Other Africa

,

Total Africa

Other countries:Australia

,

All other ,


International and regional ,

Grand total,

1,213^,057

35526

7,6Ui,056

3963,9527,4591,212628

3,250667

52,96555

U,Q5617

1.632

August 1968 HI.CAPITAL MOVEMENTS.

Section IV - Supplementary Data by CountriesTable 7. - Short-Term Banking Liabilities to Foreigners in Countries and Areas

Not Regularly Reported Separately(Position at end of period in thousands of dollars)

Country

"Other Western Europe "

CyprusIcelandIreland, Republic ofLuxembourgMaltaMonaco

" Other Eastern Europe "

AlbaniaBulgariaCsechoslovakiaEstoniaHungaryLatviaLithuaniaPolandRumaniaSoviet Zone of Germany

"Other Latin American Republics "

BoliviaCosta RicaDominican RepublicEcuadorGuatemalaGuyana (British Guiana)

,

HaitiHondurasJamaicaNicaraguaParaguayEl SalvadorTrinidad and Tobago

"Other Latin America "

British HondurasBritish West IndiesFrench West Indies and French Guiana.

"Other Asia "

AfghanistanBahrainBurmaCambodiaCeylonIranIraqJordanKuwaitLaosLebanonMalaysia 2/Muscat and OmanNepalPakistanQatarRyukyu Islands (including Okinawa)...Saudi ArabiaSingapore 2/Southern Yemen (Aden and South ArabiaSyriaTrucial StatesViet Nam

"Other Africa "

AlgeriaCameroonCongo (Brazzaville)Ethiopia ( Including Eritrea)F. T.A.I. (French Somaliland)GhanaIvory CoastKenyaLiberiaLibyaMozambiqueNigeria"Portuguese West Africa"Somali RepublicSouthern Rhodesia ^SuddnTanzaniaTunisiaZambia ^

"Other countries "

New Zealand

1963

722

6,97i10,6967,361

6762,687

2431,4-1-9

781

1,4531,838

356ai

13,5221,3792,236

32,56729,12758,037

53,W947,862

90912,94020,031

5,56434,9638,892

41,6902,286

507

11,6651,310

4,9951,3979,8656,9313,101

23,50519,8492,792

46,5398,81876,32024,104

5742,059

17,3U741

21,72261,710

2/3,5632,111n, a.

12,127

903591

45522,2751,7406,433936

2,10922,00914,0841,361

17,8112,450840

4,3742,492490975

V

10,475

1964

5745,1738,69717,384

5144,110

180662

1,0271,5761,495

432328

9,7351,9221,321

43,18631,49555,81567,06048,702

85514,34826,0446,994

42,39311,37756,0237,367

1,6397,9831,104

5,4912,046

32,5081,4912,410

23,42221,6012,71556,3634,978

84,19422,167

27

1,95423,056

179

25,566197,229

2/4,0297,5832,790

19,043

1,529370414

33,7361,5835,5891,3672,574

20,01128,9212,50515,7264,432

508

3,3672,232

632949

iy'-'5

11,956

802

5,8086,21321,119

7733,653

4032,4981,9821,4181,652

386356

12,7496,8361,700

67,37534,16572,28869,60068,128

45716,33531,4078,563

67,00913,79566,9983,577

2,40411,4912,157

5,6364,12249,0922,6822,401

66,93011,95415,99135,5233,234

99,71529,947

476,792

19,a?420

23,999283,6018,9404,4004,0301,776

39,035

7,633749

9

U,1231,5572,621

3,2421,461

17,88734,8061,58321,7304,378

8353,2873,708712

1,7577,234

18,681

1,7336,5518,87625,260

8453,146

530

5,4393,7231,5702,225

378350

-13,219

6,5755,565

66,87234,62653,15886,28064,155

90416,29026,80711,72272,77314,85968,8964,681

77514,6381,281

9,4506,403

34,4441,1093,190

36,60017,60039,72649,1784,587

100,05938,301

42413,88849,1961,691

15,935 1/176,14234,6325,131

3,4252,157

131,961

11,3491,191

171

53,478949

6,866880

1,16821,15837,0824,99225,6744,523

8392,7173,4246,5451,12234,667

13,580

April

1967

1,4785,7107,38521,7301,1564,687

7001,3905,3001,5182,4-11

273290

13,9675,2002,629

57,85741,87453,88292,36083,8681,259

16,81728,56319,32662,72816,62596,4315,381

2,12914,2031,654

7,7718,145

20,2851,3322,715

43,97327,99645,15628,5556,477

112,221

34,9372,08314,861

45,3071,525

31,16496,36460,2614,9524,7411,954

146,257

13,3871,797

31440,2021,2765,2951,1052,064

21,60175,9904,07336,5456,293

8443,3366,7479,131

960

25,893

16,709

December1967

l,6b5

4,2949,35631,309

9443,518

7042,1035,1981,5532,977

422307

19,1817,5653,542

59,94442,60655,05785,61172,9921,852

15,78529,73022,36245,63212,69772,7956,108

1,95413,7912,386

5,45512,84910,8331,8505,016

49,56434,62039,76236,6403,609

113,29263,8821,035

14,85554,751

898

14,47661,201159,5498,1986,2964,484

148,173

6,916612322

23,7691,9224,3181,510

16,36224,89317,9333,666

37,86810,365

810

2,3942,335

20,28410,29924,794

17,455

April1968

20,8983,298

14,7111/

1,2854,074

446n.a.

2,552n.a.

2,475371374

13,507

4,743l,-648

60,96855,02960,16764,11696,4432,62817,44831,357

n.a.

57,87013,62483,5969,215

2,11820,6171,855

5,5705,682

16,6432,7464,53638,418

n.a.

6,56834,0114,003

97,23152,1081,675n.a.

54,1063,23526,40770,287156,857

1,5916,507n.a.

122,975

7,8921,3511,16222,512

n.a.

13,0032,233

19,81326,37144,9823,649n.a.

7,6681,1734,1662,081n.a.

2,00621,291

15,419

Note: Data represent a partial breakdown of the amounts shovm for the corre-sponding dates for the "Other" categories in the regular monthly series inthe "Treasury Bulletin."1/ Included with Belgium (see Section II, Table l).

2/ Through April 1965, Singapore included with Malaysia.

^ Data exclude $12,372 thousand resulting from changes in reportingcoverage and classification.

^/ Through December 1964, data for Malawi (formerly Nyasaland) and Zambia(formerly Northern Rhodesia) included with Southern Rhodesia,

.a. Not available.


.CAPITAL MOVEMENTS.

Table 8.


Purchases and Sales of Long-Term Securities by Foreigners During Calendar Year 1967

(In thousands of dollars)

Coimtry

Purchases by foreigners

Totalpurchases

Domestic securities Foreign securitie:

U. S.

Governmentbonds andnotes

Corporate andother

Stocks

Bonds Stocks

ales by foreigners

Totalsales

Q. S.

Governmentbonds andnotes

Domestic securities Foreign securities

Corporate andother

Bonds Stocks

Europe :

AustriaBelgiumDenmarkFinlandFranceGermanyGreeceItalyNetherlandsN orwayPortugalSpainSwedenSwitzerlandTurkeyUnited KingdomYugoslaviaOther Western Europe.U.S.S.ROther Eastern Europe.

Total Europe.

Canada

.

Latin America :

ArgentinaBrazilChileColombiaCubaMexicoPanamaPeruUruguayVenezuelaOther Latin American Republics...Bahamas and BermudaNetherlands Antilles and Sxirinam.

Other Latin America

Total Latin America

Asia :

China MainlandHong Kong

IndiaIndonesiaIsraelJapanKoreaPhilippinesTaiwanThailandOther Asia

Total Asia.

Africa :

Congo ( Kinshasa

)


Total Africa..

Other countries :

AustraliaAll other



InternationalEuropean regionalLatin American regional..Asian regional

Total international and regional..

Grand total

35,67i179,21835,9535,310

690,710as, 750

8,9^7283,627367,410i2,25418,50071,046102,970

3,520,292

3,9441,838,628

1,302193,224

213

1,387

.849,359

537,631

43,70928,44612,13812,912

269

Ul,64599,63612,02033,80289,55817,888

286,487197,3218,017

983 , 848

125

287,6403,476418

69,93556,2421,134

26,1445,356

15,163241,391

707,024

721

1,0405,834

11374,080

81,788

63,4679,.*27

72,394

514,6893,1704,6168,548

531,02

13,763,567

4316

639

1,025

1,240

7,98243947

231

20,00613,617

2

223,597

221

543

51

10582012

31186

452800122

2,759

94

11

850

17,711

18,6c.'

17,186

17,186

4,567502

535,400

678

23,1946,067

49135,046

53,596,316

27,74929,78112,914

396727

44,264

325,727294

687,2335

13,061

65

28,80490,2112,759

11

465,779

291,0966,240

151,631237,74711,22714,47260,71410,859

2,633,1873,494

631, 578

297

147,703213706

5,99057,51826,2715,246

64,347

39,0142,317

88,84827,10717,8593,0815,629

25,980477,309

57

178,1481,000

26,535

73

159

8,279217

4

24,513

13,80474

7,41772,336

207

551

3,7451,861

70,45297

68,072

5,704

40,798120,22449,94517,080531,340

327,3415,473

196,902291,91252,77130,52680,57292,962

3,057,3925,495

2,305,9871,069

217,775

1,361,162 4,838,728 1,102,329 ;77,i.4;

409, 1,966,192 350,163 33,50>

August 1968 113

.CORPORATIONS AND CERTAIN OTHER BUSINESS-TYPE ACTIVITIES.

Section IV - Par ticipation Certificates

(In millions of dollars - face ajnoxmts)

Fiscal yearor month

Totalparticipationcertificates

Sales Retire-ments

Out-standing

Export-Import Bankof the United States

SalesRetire-ments

Out-standing

Participation certificates issued by FNMA acting as trustee

Total

Retire-ments

fjut-

standing

Farmers HomeAdministration ^'

SalesRetire-ments

out-standing

Health, Education,and WelfareDepartment 2/

Retire-ments

Cut-standing

1962

1963

196i1965

19661967

1968p


.

September.October. . .

November.

.

December. .

1968-January..

.

February.

.

MarchAprilMay

June p . . .

.

July

300250373750

2,601^1,311

3,820

10

1,010

1,25050

1,000

500

3066

255

AZ8831

664

38

396712

11525

8

161

U331670

129

300520827

1,322

3,4956,97610,083

6,9386,9106,8436,8316,7167,701

8,9438,8328,6899,6589,652

10,083

9,954

300250

373450761

1,411 J/570

10

10

50

500

3066

255398650 2/535

3

39

6712

85

161143116

94

300520827

1,022

1,3852,1462,183

2,X43

2,1U2,0472,0361,9511,961

1,9531,8421,6991,6881,6822,183

2,089

3001,8402,9003,250

1,000

1,250

1,000

30180180

35

3025

20

70

35

3002,1104,8307,900

4,7954,7954,7954,7954,7655,740

6,9906,9906,9907,9707,970

7,900

7,865

600

525

175

225

125

600

114

CUMULATIVE TABLE OF CONTENTS.Treasury Bulletin

September 1967 through August 1968

Reporting bases

Article :

Treasury financing operations

Federal fiscal operations :

Budget receipts, outlays, financing, and debt

Budget receipts by source

Budget outlays by function

Summary of fiscal operations

Budget receipts by principal sources

Chart - Internal revenue collections by principal sources

Budget outlays by âgencies.

Undistributed interfujid receipt transactions

Investment transactions of Government accounts in Federal

securities (net)

Detail of excise tax receipts

Summary of internal revenue receipts by Slates, calendar year 1967.

Federal Old-age and Survivors Insurance Trust Fund

Federal Disability Insurance Trust Fund

Federal Hospital Insurance Trust Fund

Federal Supplementary Medical Insurance Trust Fund

Railroad Retirement AccountsUnemployment Trust F\ind

National Service Life Insurance Fund

Investments of specified trust accounts in public debt securities,

agency securities, and participation certificates by issues,

as of June 30, 1968

Summary of Federal fiscal operations

Administrative budget receipts and expenditures :

Receipts by principal sources

Detail of miscellaneous receipts by major categories

Expenditures by agenciesInterfund transactions excluded from both net budget receipts

and budget expend! turesExpenditures by functions

Trust and other transactions :

Summary of trust and other transactionsTrust receiptsTrust, deposit fund, and Government-sponsored enterprise

expendituresInterfund transactions excluded from both net trust receipts

and trust expendituresPurchases of participation certificates (net)

Investments in public debt and agency securities (net)

Sales and redemptions of Government agency securities in

market (net)

Consolidated cash transactions :

Summary of Federal Government cash transactions with the public.Intragovermental and other noncash transactionsFederal receipts from and payments to the public - seasonally

adjusted and unadjusted

Issue and page nximber

1967

Sept. Oct.

Obligations :

Administrative budget funds (FY 196^, 1965, 1966).Administrative budget fundsTrust funds

Federal obligations (latest date May 31. 1968)

Account of the Treasurer of the United States :

Status of the Account of the Treasurer of the United StatesAnalysis of changes in tax and loan account balancesSummary of cash transactions through the Account of the Treasurerof the United States

Gold assets and liabilities of the Treasury

Monetai-y statistics :

Money in circulation

Debt outstanding :

Summary of public debt and guaranteed agency securitiesComputed interest charge and rate on Federal securitiesInterest-bearing public debtMaturity distribution and average length of marketableinterest-bearing public deb^

Special public debt issuesTreasury holdings of securities issued by Government agenciesInterest-bearing securities issued by Goverment agencies

Statutory debt limitation

Public debt operations :

Maturity schedule of interest-bearing public marketable securitiesother than regular weekly and annual Treasury bills

Offerings of Treasury billsNew money financing through regular weekly Treasury bills

II

IV

11

II

13

13

15

17

18

21

33

3536

37

37

39

39

40

40

41

45

4750

11

11

12

13

15

16

19

22

24

25

26

26

27

2828

29

29

3031

32

33

34

36

39

11

11

12

31

32

33

33

34

353536

3637

38

41

4346

I'

'V

1968

^n. Feb. ?iî-. îp". May

1

1

Aacjust 1968.CUMULATIVE TABLE OF CONTENTS

115

September 1967 through August 1968 - (Continued)

Public debt operations (Continued) :

Offerings of public marketable securities other than regular

weekly Treasury bills

Unmatured marketable securities issued in advance refunding

operationsUnmatured marketable securities issued at a premium or

dis::ount other than advance refunding operations

Allotments by investor classes on subscriptions for public

marketable securities other than regular weekly Treasury bills...

Disposition of public marketable securities other than

regular weekly Treasxiry bills

Foreign series securities (nonmarketable) issued to official

institutions of foreign countries

Foreign currency series securities (nonmarketable) issued to

offi jial institutions of foreign countries

United States savings bonds :

Cumulative sales and redemptions by series

Sales and redemptions by periods, all series combined

Sales and redemptions by periods, Series E through K

Redemption of matured and unmatured 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

Ownership of Federal securities :

Distribution by classes of investors and types of issues

Net market purchases or sales of Federal securities for

accounts handled by the Treasury

Estimated ownership

Treasury survey of ownership of Federal securities :

Ownership by banks, insurance companies, and others

Ownership by commercial banks classified by membership in Federal

Reserve System (latest date June 30, 1968)

Market quotations :

End-of-month closing quotations on Treasury securities by issues .

.

Chart - Yields of Treasury securities

Average yields of long-term bonds :

Average yields of Treasury and corporate bonds by periods

Chart - Average yields of Treasury and corporate bonds

Exchange Stabilization Fund (latest date March 31. 1968) :

Balance sheetU.S. stabilization agreementsIncome and expense

National bank reports :

Earnings, expenses, and dividends for calendar years 1963-^7

International financial statistics :

U.S. reserve assets: gold stock, holdings of convertible

foreign currencies, and reserve position in IMF

U.S. liquid liabilities to foreigners

U.S. liquid liabilities to official institutions of foreign

countries, by areaNonmarketable U.S. Treasury bonds and notes issued to official

institutions of foreign countriesU.S. position in the IMFU.S. monetary gold transactions with foreign countries and inter-

national and regional organizations

Capital movements between the United States and foreign countries :

Summary by periods beginning 19A6Slimmary by countries and periodsShort-term banking liabilities to foreigners, latest month

Short-term banking claims on foreigners , latest month

Long-term banking liabilities to and claims on foreigners,

latest monthPurchases and sales of long-term seciurities by foreigners,

latest monthShort-terra liabilities reported by nonbanking concernsShoi-L-term claims reported by nonbanking concernsLong-term liabilities reported by nonbanking concerns

Long-term claims reported by nonbanking concernsForeign credit and debit balances in brokerage accounts

Short-term liabilities, countries and areas not regularly

reportedPurchases and sales of long-term securities by foreigners during

calendar year 1967

Foreign currencies acquired by the U.S. without purchase with dollars

Foreign ciurrency transactions, summary and country uses

Foreign currency transactions, U.S. uses and trust funds

Corporations and certain other business-type activities :

Statements of financial condition (latest date March 31. 1968)

Income and expense (latest date December 31, 1967)Source and application of funds (latest date December 31, 1967)...

Participation certificates

Issue and page number

1967

S6pt.

51

54

57

59

61

U67

69

697072

73

73

74

75

8082

83

84

85

86

87

8788

89

9194103104

105

106107108110

111112

113

114

40

43

46

48

50

53

56

58

58

59:i

62

63

64

69

71

''4

75

75

7677

78

78

79

82

85

9495

96

979899101102

103

104

105

47

50

53

67687071

73

74

75

8082

81

84

115 106

8586

8788

89

91

94103

104

105

106107

108110111112

113

114

116117

118

42

45

48

50

53

56

1,0

62

62

6365

67

67

69

7476

7778

7980

81

8182

83

8588

9793

99

100101102

104105106

107

108

1968

152

41

44

47

4^

55

hO

63

63

6466

68

68

69

70

7577

78

79

8181

82

83

84

8485

91100101

102

103104105107108109

110

113

135159

38

41

43

4n

50

59

5960

64

65

6667

73

78

80

81

83

84

85

8586

8992

101102

103

104105106108

109110

111

112

114

H7

33

36

39

41

4A

48

54

57

575860

61

62

62

63

64

69

71

72

73

7475

76

76

77

78

80

839293

94

95969799100101

102

103

Apr . May

104

30

33

36

38

41

45

52

55

55

56

58

59

60

61

62

6769

7071

72

73

73

74

75

76

7677

78

83

9293

94

95969799100101

102

103

105

106

108

140

37

40

43

45

48

52

59

62

62

63

6566

67

68

69

7577

78

79

8081

82

82

83

84

86

89

9899

100

101102

103105106107

108

109

111

31

35

38

40

43

47

54

57

575860

62

62

63

69

71

72

73

75

76

77

77

78

79

81

849394

95

969798100101102

103

104

2^

33

36

38

41

45

53

56

56

5759

60

61

61

62

63

70

71

73

74

74

75

76

77

77

78

79

81

8493

94

95

969798100101102

103

104

156 L138 -lOi-

Treas.HJ10.A2

1968C.2

U.S. Treasury Dept.

Treasury Bulletin

*^ai*'

1 0004255