FR 2006

Annual Survey of Eligible Bankers' Acceptances

Description: The Annual Survey of Eligible Bankers' Acceptances (FR 2006; OMB No. 7100-0055) has been discontinued, effective July 31, 2001. This voluntary survey provided detailed information on eligible U.S. dollar-denominated acceptances payable in the United States. The data were reported as of September 30 by U.S. commercial banks, U.S. branches and agencies of foreign banks, and Edge and agreement corporations having significant issuance of such acceptances. The information was used to construct monetary and credit aggregates, to construct the domestic nonfinancial debt aggregate monitored by the Federal Open Market Committee, and to calculate short- and intermediate-term business credit. The usefulness of the FR 2006 report had declined, for three reasons: (1) Calculation of L, the monetary aggregate that contained bankers' acceptances, had been discontinued in December 1998; (2) the Call Report had replaced the FR 2006 as the source of data on bankers' acceptances for calculating the debt aggregate; and (3) the relatively small size of the bankers' acceptances market called into question the need for the survey. The Board staff concluded that estimated data derived from the bankers' acceptances items on Schedule RC of the Call Report could be used in calculating short- and intermediate-term business credit.

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