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Board of Governors of the Federal Reserve System
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Annual Report 2015

Maps of the Federal Reserve System

These maps show the boundaries of the twelve Federal Reserve Districts, the location of the Reserve Bank (and any Branch or Branches) within each District, and the Washington, D.C., location of the Board of Governors. Following is a list of the twelve Districts, by number and letter; the city in which the Reserve Bank is located; the states within the District; and the location of any Branch or Branches of the Reserve Bank.
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District 1-A, Boston. Encompasses Maine, New Hampshire, Vermont, Massachusetts, Rhode Island, and Connecticut (excluding Fairfield County). No Branches.
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District 2-B, New York. Encompasses New York State, twelve counties in northern New Jersey, Fairfield County in Connecticut, Puerto Rico, and the U.S. Virgin Islands. No Branches.
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District 3-C, Philadelphia. Encompasses eastern Pennsylvania, southern New Jersey, and all of Delaware. No Branches.
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District 4-D, Cleveland. Encompasses Ohio, western Pennsylvania, eastern Kentucky, and the northern panhandle of West Virginia. Branches in Pittsburgh and Cincinnati.
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District 5-E, Richmond. Encompasses Maryland, Virginia, North Carolina, South Carolina, and most of West Virginia. Branches in Baltimore and Charlotte.
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District 6-F, Atlanta. Encompasses Alabama, Florida, Georgia, and parts of Louisiana, Mississippi, and Tennessee. Branches in Nashville, Birmingham, Jacksonville, Miami, and New Orleans.
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District 7-G, Chicago. Encompasses Iowa and most of Illinois, Indiana, Michigan, and Wisconsin. Branch in Detroit.
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District 8-H, St. Louis. Encompasses Arkansas and portions of Missouri, Mississippi, Tennessee, Kentucky, Indiana, and Illinois. Branches in Louisville, Memphis, and Little Rock.
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District 9-I, Minneapolis. Encompasses Minnesota, Montana, North Dakota, South Dakota, twenty-six counties in northwestern Wisconsin, and the Upper Peninsula of Michigan. Branch in Helena.
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District 10-J, Kansas City. Encompasses Colorado, Kansas, Nebraska, Oklahoma, Wyoming, northern New Mexico, and Western Missouri. Branches in Omaha, Denver, and Oklahoma City.
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District 11-K, Dallas. Encompasses Texas, northern Louisiana, and southern New Mexico. Branches in El Paso, San Antonio, and Houston.
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District 12-L, San Francisco. Encompasses Alaska, Arizona, California, Hawaii, Idaho, Nevada, Oregon, Utah, Washington, American Samoa, Guam, and the Commonwealth of the Northern Mariana Islands. Branches in Seattle, Portland, Salt Lake City, and Los Angeles.
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Monetary Policy and Economic Developments

Figure 1. Net change in payroll employment

3-month moving averages
Thousands of jobs

Period Total nonfarm Private
January 2009 -752.33 -762.33
February 2009 -731.67 -737.00
March 2009 -774.33 -775.67
April 2009 -737.00 -769.67
May 2009 -621.00 -634.67
June 2009 -502.00 -507.33
July 2009 -382.33 -330.33
August 2009 -336.33 -309.67
September 2009 -256.33 -214.67
October 2009 -215.00 -216.00
November 2009 -144.67 -143.33
December 2009 -163.33 -173.67
January 2010 -85.67 -74.67
February 2010 -106.33 -87.33
March 2010 41.67 29.67
April 2010 113.33 87.33
May 2010 308.67 135.33
June 2010 211.67 137.67
July 2010 108.00 108.00
August 2010 -77.67 114.33
September 2010 -50.67 113.67
October 2010 53.33 144.00
November 2010 106.67 151.00
December 2010 152.67 146.33
January 2011 113.67 126.67
February 2011 136.00 160.00
March 2011 181.33 206.00
April 2011 253.00 277.67
May 2011 214.67 243.33
June 2011 218.00 227.33
July 2011 126.00 171.00
August 2011 137.33 174.67
September 2011 141.00 201.33
October 2011 185.00 202.00
November 2011 198.00 213.33
December 2011 185.00 194.67
January 2012 230.33 248.00
February 2012 267.33 277.33
March 2012 278.00 281.67
April 2012 190.33 196.00
May 2012 143.00 152.33
June 2012 92.33 97.33
July 2012 115.00 120.67
August 2012 140.00 135.33
September 2012 171.33 171.33
October 2012 167.67 172.67
November 2012 154.00 171.67
December 2012 174.67 189.33
January 2013 194.00 202.33
February 2013 248.00 244.33
March 2013 212.00 216.67
April 2013 212.67 213.33
May 2013 181.67 189.33
June 2013 185.33 197.00
July 2013 168.00 186.67
August 2013 185.00 192.33
September 2013 198.00 194.33
October 2013 214.33 208.00
November 2013 221.67 220.67
December 2013 175.00 184.67
January 2014 174.33 182.67
February 2014 133.33 142.00
March 2014 209.00 205.33
April 2014 250.00 233.67
May 2014 265.00 252.67
June 2014 276.33 254.67
July 2014 250.33 242.00
August 2014 252.00 247.33
September 2014 245.33 237.33
October 2014 234.67 219.33
November 2014 272.33 250.33
December 2014 274.33 264.33
January 2015 281.33 272.33
February 2015 259.33 248.33
March 2015 190.00 185.33
April 2015 200.00 194.33
May 2015 202.67 195.67
June 2015 250.67 241.00
July 2015 259.33 242.33
August 2015 218.33 198.00
September 2015 192.00 176.67
October 2015 198.00 196.33
November 2015 241.33 248.33
December 2015 279.00 278.00
January 2016 231.00 229.33

Source: Department of Labor, Bureau of Labor Statistics.

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Figure 2. Measures of labor underutilization

Monthly
Percent

Period Unemployment rate U-4 U-5 U-6
January 2004 5.7 6.0 6.8 9.9
February 2004 5.6 5.9 6.6 9.7
March 2004 5.8 6.1 6.8 10.0
April 2004 5.6 5.9 6.5 9.6
May 2004 5.6 5.9 6.6 9.6
June 2004 5.6 5.9 6.6 9.5
July 2004 5.5 5.8 6.5 9.5
August 2004 5.4 5.8 6.4 9.4
September 2004 5.4 5.6 6.4 9.4
October 2004 5.5 5.7 6.5 9.7
November 2004 5.4 5.6 6.3 9.4
December 2004 5.4 5.6 6.3 9.2
January 2005 5.3 5.6 6.4 9.3
February 2005 5.4 5.7 6.4 9.3
March 2005 5.2 5.5 6.2 9.1
April 2005 5.2 5.4 6.1 8.9
May 2005 5.1 5.4 6.0 8.9
June 2005 5.0 5.3 6.0 9.0
July 2005 5.0 5.3 5.9 8.8
August 2005 4.9 5.1 5.9 8.9
September 2005 5.0 5.3 5.9 9.0
October 2005 5.0 5.2 5.9 8.7
November 2005 5.0 5.3 5.9 8.7
December 2005 4.9 5.1 5.8 8.6
January 2006 4.7 5.0 5.7 8.4
February 2006 4.8 5.0 5.7 8.4
March 2006 4.7 5.0 5.6 8.2
April 2006 4.7 5.0 5.5 8.1
May 2006 4.6 4.8 5.5 8.2
June 2006 4.6 4.9 5.6 8.4
July 2006 4.7 5.0 5.7 8.5
August 2006 4.7 5.0 5.7 8.4
September 2006 4.5 4.7 5.3 8.0
October 2006 4.4 4.6 5.3 8.2
November 2006 4.5 4.7 5.4 8.1
December 2006 4.4 4.6 5.2 7.9
January 2007 4.6 4.9 5.6 8.4
February 2007 4.5 4.8 5.4 8.2
March 2007 4.4 4.6 5.3 8.0
April 2007 4.5 4.7 5.4 8.2
May 2007 4.4 4.7 5.3 8.2
June 2007 4.6 4.8 5.5 8.3
July 2007 4.7 4.9 5.5 8.4
August 2007 4.6 4.9 5.5 8.4
September 2007 4.7 4.8 5.5 8.4
October 2007 4.7 4.9 5.6 8.4
November 2007 4.7 4.9 5.5 8.4
December 2007 5.0 5.2 5.8 8.8
January 2008 5.0 5.3 6.0 9.2
February 2008 4.9 5.1 5.9 9.0
March 2008 5.1 5.3 5.9 9.1
April 2008 5.0 5.2 5.8 9.2
May 2008 5.4 5.7 6.3 9.7
June 2008 5.6 5.8 6.5 10.1
July 2008 5.8 6.1 6.7 10.5
August 2008 6.1 6.3 7.1 10.8
September 2008 6.1 6.4 7.1 11.0
October 2008 6.5 6.8 7.5 11.8
November 2008 6.8 7.2 8.0 12.6
December 2008 7.3 7.7 8.4 13.6
January 2009 7.8 8.3 9.1 14.2
February 2009 8.3 8.8 9.5 15.2
March 2009 8.7 9.1 9.9 15.8
April 2009 9.0 9.4 10.2 15.9
May 2009 9.4 9.8 10.6 16.5
June 2009 9.5 10.0 10.8 16.5
July 2009 9.5 9.9 10.8 16.4
August 2009 9.6 10.0 10.9 16.7
September 2009 9.8 10.2 11.0 16.7
October 2009 10.0 10.5 11.4 17.1
November 2009 9.9 10.4 11.2 17.1
December 2009 9.9 10.4 11.3 17.1
January 2010 9.8 10.4 11.3 16.7
February 2010 9.8 10.5 11.3 17.0
March 2010 9.9 10.5 11.2 17.1
April 2010 9.9 10.6 11.3 17.1
May 2010 9.6 10.3 10.9 16.6
June 2010 9.4 10.1 10.9 16.4
July 2010 9.4 10.1 11.0 16.4
August 2010 9.5 10.2 10.9 16.5
September 2010 9.5 10.2 10.9 16.8
October 2010 9.4 10.2 11.0 16.6
November 2010 9.8 10.5 11.2 16.9
December 2010 9.3 10.1 10.9 16.6
January 2011 9.1 9.7 10.8 16.2
February 2011 9.0 9.6 10.6 16.0
March 2011 9.0 9.5 10.4 15.9
April 2011 9.1 9.7 10.5 16.1
May 2011 9.0 9.5 10.3 15.8
June 2011 9.1 9.7 10.7 16.1
July 2011 9.0 9.6 10.6 15.9
August 2011 9.0 9.6 10.5 16.1
September 2011 9.0 9.7 10.5 16.4
October 2011 8.8 9.4 10.3 15.8
November 2011 8.6 9.3 10.1 15.5
December 2011 8.5 9.1 10.0 15.2
January 2012 8.3 8.9 9.9 15.2
February 2012 8.3 8.9 9.8 15.0
March 2012 8.2 8.7 9.6 14.6
April 2012 8.2 8.8 9.6 14.6
May 2012 8.2 8.7 9.6 14.8
June 2012 8.2 8.7 9.6 14.8
July 2012 8.2 8.7 9.6 14.8
August 2012 8.1 8.6 9.6 14.6
September 2012 7.8 8.3 9.3 14.8
October 2012 7.8 8.3 9.2 14.4
November 2012 7.7 8.3 9.2 14.4
December 2012 7.9 8.5 9.4 14.4
January 2013 8.0 8.4 9.4 14.5
February 2013 7.7 8.2 9.2 14.3
March 2013 7.5 8.0 8.9 13.8
April 2013 7.6 8.1 8.9 14.0
May 2013 7.5 7.9 8.8 13.8
June 2013 7.5 8.1 9.1 14.2
July 2013 7.3 7.9 8.7 13.8
August 2013 7.3 7.8 8.6 13.6
September 2013 7.3 7.8 8.6 13.7
October 2013 7.2 7.7 8.6 13.7
November 2013 6.9 7.4 8.2 13.1
December 2013 6.7 7.3 8.1 13.1
January 2014 6.6 7.1 8.1 12.7
February 2014 6.7 7.1 8.0 12.6
March 2014 6.7 7.1 7.9 12.6
April 2014 6.2 6.7 7.5 12.3
May 2014 6.2 6.7 7.5 12.1
June 2014 6.1 6.5 7.3 12.0
July 2014 6.2 6.6 7.5 12.2
August 2014 6.2 6.6 7.4 12.0
September 2014 6.0 6.4 7.3 11.8
October 2014 5.7 6.2 7.1 11.5
November 2014 5.8 6.2 7.0 11.4
December 2014 5.6 6.0 6.9 11.2
January 2015 5.7 6.1 7.0 11.3
February 2015 5.5 6.0 6.8 11.0
March 2015 5.5 5.9 6.7 10.9
April 2015 5.4 5.9 6.7 10.8
May 2015 5.5 5.8 6.6 10.7
June 2015 5.3 5.7 6.4 10.5
July 2015 5.3 5.7 6.4 10.4
August 2015 5.1 5.5 6.2 10.3
September 2015 5.1 5.4 6.2 10.0
October 2015 5.0 5.4 6.2 9.8
November 2015 5.0 5.4 6.1 9.9
December 2015 5.0 5.4 6.1 9.9
January 2016 4.9 5.3 6.2 9.9

Note: U-4 measures total unemployed plus discouraged workers, as a percent of the labor force plus discouraged workers. Discouraged workers are a subset of marginally attached workers who are not currently looking for work because they believe no jobs are available for them. U-5 measures total unemployed plus all marginally attached to the labor force, as a percent of the labor force plus persons marginally attached to the labor force. Marginally attached workers are not in the labor force, want and are available for work, and have looked for a job in the past 12 months. U-6 measures total unemployed plus all marginally attached workers plus total employed part time for economic reasons, as a percent of the labor force plus all marginally attached workers. The shaded bar indicates a period of business recession as defined by the National Bureau of Economic Research: December 2007-June 2009.

Source: Department of Labor, Bureau of Labor Statistics.

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Figure 3. Brent spot and futures prices

Series: Brent spot and December 2018 futures contracts prices

Horizon: January 12, 2012 to February 4, 2016

Description: The data are weekly averages of daily data and are plotted as two curves. Units are dollars per barrel. The curves largely move together for the entire duration, with futures staying relatively stable and spot prices experiencing more fluctuation. Both series decrease sharply at the end of 2014, followed by an increase at the start of 2015. There is a minor dip again in both series and a subsequent increase in early 2015. Both series gradually decline after this increase until the end of the time horizon.

The spot price series starts around 110 at the beginning of 2012. It climbs close to 125 by the first quarter and then decreases in the second quarter to below 100. In the third quarter of 2012, it grows back to around 110, where it remains through the end of year. From 2013 through the first half of 2014, the series fluctuates around 110, with a peak around 120 and a trough around 100. In the second half of 2014, the series declines dramatically from around 115 to just below 50. In the first quarter of 2015, the series increases steeply to 60 before making a slight drop to near 55. In the second quarter of 2015, the series increases to near 70, then declines to about 45 at the middle of the third quarter. From the beginning of the fourth quarter to the beginning of the first quarter of 2016, the series declines from about 50 to just under 30. The series then rebounds and ends at about 35 in the beginning of February.

The December 2018 futures contracts series starts just above 90 in 2012. It remains between 100 and just under 90 through the first half of 2014, with only minor fluctuations. Starting in the third quarter of 2014 until the first month of 2015, the series drops dramatically to about 70. It then increases to slightly over 75 in the first quarter of 2015 before dropping again back to 70. In the second quarter, the series increases to over 70 once more and then moves back down close to 70, before a steeper decline to about 60 occurs in the third quarter. The series then declines to just below 45 between the middle of the fourth quarter and the beginning of the first quarter of 2016. The series rebounds and ends just above 45 in the beginning of February.

Source: NYMEX.

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Figure 4. Change in the price index for personal consumption expenditures

Monthly
12-month percent change

Period Total Excluding food and energy
January 2009 0.18 1.22
February 2009 0.18 1.21
March 2009 -0.22 1.10
April 2009 -0.32 1.24
May 2009 -0.62 1.15
June 2009 -0.71 1.09
July 2009 -1.18 0.97
August 2009 -0.84 0.97
September 2009 -0.77 1.03
October 2009 0.08 1.33
November 2009 1.46 1.42
December 2009 2.07 1.50
January 2010 2.19 1.56
February 2010 1.98 1.54
March 2010 2.19 1.56
April 2010 2.02 1.33
May 2010 1.93 1.34
June 2010 1.38 1.31
July 2010 1.55 1.35
August 2010 1.42 1.33
September 2010 1.35 1.19
October 2010 1.27 0.97
November 2010 1.20 0.99
December 2010 1.39 0.95
January 2011 1.43 0.99
February 2011 1.70 1.08
March 2011 1.97 1.09
April 2011 2.43 1.31
May 2011 2.71 1.43
June 2011 2.69 1.46
July 2011 2.77 1.58
August 2011 2.86 1.69
September 2011 2.93 1.72
October 2011 2.75 1.78
November 2011 2.73 1.84
December 2011 2.50 1.96
January 2012 2.57 2.09
February 2012 2.52 2.06
March 2012 2.37 2.11
April 2012 2.06 2.03
May 2012 1.66 1.91
June 2012 1.60 1.90
July 2012 1.44 1.84
August 2012 1.55 1.68
September 2012 1.71 1.73
October 2012 1.94 1.84
November 2012 1.68 1.78
December 2012 1.66 1.72
January 2013 1.52 1.69
February 2013 1.68 1.68
March 2013 1.36 1.59
April 2013 1.12 1.48
May 2013 1.30 1.47
June 2013 1.54 1.50
July 2013 1.61 1.48
August 2013 1.41 1.55
September 2013 1.20 1.54
October 2013 1.04 1.47
November 2013 1.22 1.52
December 2013 1.40 1.54
January 2014 1.40 1.44
February 2014 1.08 1.39
March 2014 1.37 1.47
April 2014 1.66 1.59
May 2014 1.77 1.65
June 2014 1.69 1.62
July 2014 1.71 1.66
August 2014 1.55 1.59
September 2014 1.51 1.60
October 2014 1.40 1.52
November 2014 1.19 1.44
December 2014 0.78 1.37
January 2015 0.16 1.29
February 2015 0.26 1.34
March 2015 0.28 1.35
April 2015 0.16 1.32
May 2015 0.25 1.28
June 2015 0.34 1.30
July 2015 0.32 1.26
August 2015 0.32 1.29
September 2015 0.18 1.34
October 2015 0.23 1.29
November 2015 0.44 1.38
December 2015 0.58 1.41

Note: The data extend through December 2015; changes are from one year earlier.

Source: Department of Commerce, Bureau of Economic Analysis.

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Figure 5. Non-oil import prices and U.S. dollar exchange rate

Monthly
12-month percent change

Period Non-oil import prices Broad nominal dollar
January 2008 3.88 -8.40
February 2008 4.55 -8.85
March 2008 5.38 -10.19
April 2008 6.50 -9.39
May 2008 6.65 -8.27
June 2008 7.28 -7.87
July 2008 7.84 -7.36
August 2008 7.37 -5.45
September 2008 6.44 -1.74
October 2008 4.92 6.89
November 2008 2.40 11.14
December 2008 0.92 9.06
January 2009 -0.64 10.67
February 2009 -1.99 14.34
March 2009 -3.85 17.14
April 2009 -5.31 14.67
May 2009 -5.79 10.95
June 2009 -6.53 9.33
July 2009 -7.27 9.73
August 2009 -6.52 5.63
September 2009 -5.35 2.30
October 2009 -4.07 -5.43
November 2009 -1.80 -8.18
December 2009 -0.18 -6.80
January 2010 1.19 -7.12
February 2010 2.03 -8.00
March 2010 2.80 -9.19
April 2010 3.45 -7.34
May 2010 3.63 -1.96
June 2010 3.07 -0.15
July 2010 3.08 -1.33
August 2010 2.88 -0.91
September 2010 2.87 -1.13
October 2010 2.68 -2.30
November 2010 2.84 -1.56
December 2010 2.64 -1.35
January 2011 2.99 -2.76
February 2011 3.62 -4.91
March 2011 4.26 -5.00
April 2011 4.60 -6.10
May 2011 4.68 -8.66
June 2011 5.15 -9.18
July 2011 5.43 -8.38
August 2011 5.51 -7.14
September 2011 5.41 -3.42
October 2011 4.76 0.07
November 2011 3.65 0.42
December 2011 3.37 0.70
January 2012 2.46 1.24
February 2012 1.66 0.25
March 2012 1.48 1.83
April 2012 0.69 3.88
May 2012 0.17 5.72
June 2012 -0.09 7.26
July 2012 -0.52 7.49
August 2012 -0.86 5.95
September 2012 -0.85 1.28
October 2012 -0.17 0.07
November 2012 0.09 0.06
December 2012 0.09 -1.43
January 2013 0.17 -0.89
February 2013 0.26 1.69
March 2013 -0.17 1.95
April 2013 -0.17 1.26
May 2013 -0.43 -0.04
June 2013 -0.52 -0.63
July 2013 -0.78 0.40
August 2013 -0.86 1.17
September 2013 -1.03 2.55
October 2013 -1.29 1.81
November 2013 -1.20 2.06
December 2013 -1.12 2.83
January 2014 -0.77 3.89
February 2014 -0.51 3.29
March 2014 0.00 2.33
April 2014 -0.34 2.30
May 2014 -0.09 1.53
June 2014 0.09 0.85
July 2014 0.70 0.06
August 2014 0.78 1.06
September 2014 0.70 2.79
October 2014 0.44 5.17
November 2014 0.09 6.01
December 2014 -0.09 8.43
January 2015 -1.21 9.72
February 2015 -1.72 10.87
March 2015 -2.58 12.94
April 2015 -2.67 12.20
May 2015 -2.67 11.69
June 2015 -2.59 12.45
July 2015 -2.85 14.70
August 2015 -3.11 15.88
September 2015 -3.20 15.07
October 2015 -3.38 12.58
November 2015 -3.39 12.38
December 2015 -3.74 10.85
January 2016 ND 10.97

Note: The data for non-oil import prices extend through December 2015.

Source: Department of Labor, Bureau of Labor Statistics; Federal Reserve Board, Statistical Release H.10, "Foreign Exchange Rates."

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Figure 6. Median inflation expectations

SPF expectations for next 10 years

Period Percent
2007:Q1 2.00
2007:Q2 2.00
2007:Q3 2.10
2007:Q4 2.10
2008:Q1 2.20
2008:Q2 2.20
2008:Q3 2.20
2008:Q4 2.20
2009:Q1 2.20
2009:Q2 2.28
2009:Q3 2.15
2009:Q4 2.10
2010:Q1 2.10
2010:Q2 2.15
2010:Q3 2.11
2010:Q4 2.00
2011:Q1 2.10
2011:Q2 2.27
2011:Q3 2.25
2011:Q4 2.16
2012:Q1 2.15
2012:Q2 2.20
2012:Q3 2.20
2012:Q4 2.10
2013:Q1 2.00
2013:Q2 2.00
2013:Q3 2.00
2013:Q4 2.00
2014:Q1 2.00
2014:Q2 2.00
2014:Q3 2.00
2014:Q4 2.00
2015:Q1 2.00
2015:Q2 1.98
2015:Q3 2.00
2015:Q4 1.90

Note: The SPF data for inflation expectations for personal consumption expenditures are quarterly and extend from 2007:Q1 through 2015:Q4.

Source: Federal Reserve Bank of Philadelphia, Survey of Professional Forecasters (SPF).

Michigan survey expectations for next 5 to 10 years

Period Percent
January 2002 2.7
February 2002 2.8
March 2002 2.8
April 2002 2.8
May 2002 3.0
June 2002 2.8
July 2002 2.8
August 2002 2.9
September 2002 2.5
October 2002 2.8
November 2002 2.8
December 2002 2.8
January 2003 2.7
February 2003 2.7
March 2003 2.8
April 2003 2.7
May 2003 2.8
June 2003 2.7
July 2003 2.7
August 2003 2.7
September 2003 2.7
October 2003 2.8
November 2003 2.7
December 2003 2.8
January 2004 2.8
February 2004 2.9
March 2004 2.9
April 2004 2.7
May 2004 2.8
June 2004 2.9
July 2004 2.8
August 2004 2.7
September 2004 2.8
October 2004 2.8
November 2004 2.7
December 2004 2.8
January 2005 2.7
February 2005 2.8
March 2005 2.9
April 2005 3.0
May 2005 2.9
June 2005 2.8
July 2005 2.9
August 2005 2.8
September 2005 3.1
October 2005 3.2
November 2005 3.0
December 2005 3.1
January 2006 2.9
February 2006 2.9
March 2006 2.9
April 2006 3.1
May 2006 3.2
June 2006 2.9
July 2006 2.9
August 2006 3.2
September 2006 3.0
October 2006 3.1
November 2006 3.0
December 2006 3.0
January 2007 3.0
February 2007 2.9
March 2007 2.9
April 2007 3.1
May 2007 3.1
June 2007 2.9
July 2007 3.1
August 2007 2.9
September 2007 2.9
October 2007 2.8
November 2007 2.9
December 2007 3.1
January 2008 3.0
February 2008 3.0
March 2008 2.9
April 2008 3.2
May 2008 3.4
June 2008 3.4
July 2008 3.2
August 2008 3.2
September 2008 3.0
October 2008 2.9
November 2008 2.9
December 2008 2.6
January 2009 2.9
February 2009 3.1
March 2009 2.6
April 2009 2.8
May 2009 2.9
June 2009 3.0
July 2009 3.0
August 2009 2.8
September 2009 2.8
October 2009 2.9
November 2009 3.0
December 2009 2.7
January 2010 2.9
February 2010 2.7
March 2010 2.7
April 2010 2.7
May 2010 2.9
June 2010 2.8
July 2010 2.9
August 2010 2.8
September 2010 2.7
October 2010 2.8
November 2010 2.8
December 2010 2.8
January 2011 2.9
February 2011 2.9
March 2011 3.2
April 2011 2.9
May 2011 2.9
June 2011 3.0
July 2011 2.9
August 2011 2.9
September 2011 2.8
October 2011 2.7
November 2011 2.7
December 2011 2.7
January 2012 2.7
February 2012 2.9
March 2012 3.0
April 2012 2.9
May 2012 2.7
June 2012 2.8
July 2012 2.7
August 2012 3.0
September 2012 2.8
October 2012 2.7
November 2012 2.8
December 2012 2.9
January 2013 2.9
February 2013 3.0
March 2013 2.8
April 2013 2.9
May 2013 2.9
June 2013 2.9
July 2013 2.8
August 2013 2.9
September 2013 3.0
October 2013 2.8
November 2013 2.9
December 2013 2.7
January 2014 2.9
February 2014 2.9
March 2014 2.9
April 2014 2.9
May 2014 2.8
June 2014 2.9
July 2014 2.7
August 2014 2.9
September 2014 2.8
October 2014 2.8
November 2014 2.6
December 2014 2.8
January 2015 2.8
February 2015 2.7
March 2015 2.8
April 2015 2.6
May 2015 2.8
June 2015 2.6
July 2015 2.8
August 2015 2.7
September 2015 2.7
October 2015 2.5
November 2015 2.6
December 2015 2.6
January 2016 2.7

Note: The Michigan survey data are monthly.

Source: University of Michigan Surveys of Consumers.

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Figure 7. Change in real gross domestic product, gross domestic income, and private domestic final purchases

Percent, annual rate

Period Gross domestic product Gross domestic income Private domestic final purchases
2009 -0.24 0.34 -2.39
2010 2.73 2.59 3.45
2011 1.68 2.09 2.64
2012 1.28 2.85 2.32
2013 2.45 1.36 2.60
2014 2.47 3.33 3.63
2015:H1 2.27 1.30 2.95
2015:H2* 1.34 ND 2.47

* Gross domestic income is not yet available for 2015:H2.  Return to table

Source: Department of Commerce, Bureau of Economic Analysis.

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Figure 8. Change in real personal consumption expenditures and disposable personal income

Percent, annual rate

Period Personal consumption expenditures Disposable personal income
2009 -0.20 -0.71
2010 3.05 2.62
2011 1.48 1.66
2012 1.32 5.05
2013 2.27 -2.94
2014 3.21 3.57
2015:H1 2.66 3.27
2015:H2 2.59 3.51

Source: Department of Commerce, Bureau of Economic Analysis.

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Figure 9. Private housing starts and permits

Monthly
Millions of units, annual rate

Period Multifamily starts Single-family starts Single-family permits
January 2002 0.37 1.31 1.29
February 2002 0.33 1.49 1.40
March 2002 0.37 1.28 1.29
April 2002 0.31 1.28 1.29
May 2002 0.36 1.39 1.29
June 2002 0.35 1.36 1.31
July 2002 0.34 1.33 1.31
August 2002 0.38 1.25 1.32
September 2002 0.36 1.45 1.37
October 2002 0.29 1.37 1.38
November 2002 0.36 1.40 1.38
December 2002 0.35 1.46 1.41
January 2003 0.32 1.54 1.42
February 2003 0.33 1.30 1.36
March 2003 0.33 1.40 1.36
April 2003 0.27 1.37 1.39
May 2003 0.36 1.39 1.39
June 2003 0.35 1.51 1.46
July 2003 0.36 1.54 1.48
August 2003 0.35 1.48 1.52
September 2003 0.38 1.56 1.53
October 2003 0.34 1.63 1.57
November 2003 0.39 1.69 1.51
December 2003 0.41 1.65 1.55
January 2004 0.35 1.56 1.54
February 2004 0.37 1.48 1.56
March 2004 0.37 1.63 1.65
April 2004 0.36 1.65 1.62
May 2004 0.33 1.65 1.68
June 2004 0.30 1.53 1.62
July 2004 0.33 1.68 1.62
August 2004 0.33 1.69 1.61
September 2004 0.35 1.56 1.59
October 2004 0.41 1.66 1.59
November 2004 0.32 1.46 1.57
December 2004 0.33 1.71 1.61
January 2005 0.41 1.74 1.65
February 2005 0.42 1.79 1.63
March 2005 0.28 1.58 1.58
April 2005 0.40 1.66 1.65
May 2005 0.31 1.71 1.64
June 2005 0.35 1.72 1.68
July 2005 0.33 1.72 1.72
August 2005 0.37 1.73 1.72
September 2005 0.36 1.79 1.80
October 2005 0.33 1.74 1.74
November 2005 0.34 1.81 1.73
December 2005 0.37 1.63 1.66
January 2006 0.45 1.82 1.69
February 2006 0.32 1.80 1.64
March 2006 0.37 1.60 1.55
April 2006 0.31 1.51 1.50
May 2006 0.37 1.57 1.45
June 2006 0.35 1.45 1.39
July 2006 0.31 1.42 1.31
August 2006 0.29 1.36 1.28
September 2006 0.34 1.38 1.22
October 2006 0.28 1.21 1.18
November 2006 0.28 1.29 1.16
December 2006 0.40 1.25 1.20
January 2007 0.28 1.13 1.17
February 2007 0.29 1.19 1.14
March 2007 0.29 1.20 1.15
April 2007 0.29 1.20 1.06
May 2007 0.29 1.13 1.04
June 2007 0.32 1.13 1.00
July 2007 0.31 1.04 0.98
August 2007 0.37 0.96 0.92
September 2007 0.25 0.94 0.86
October 2007 0.39 0.88 0.82
November 2007 0.36 0.83 0.80
December 2007 0.23 0.81 0.74
January 2008 0.31 0.77 0.71
February 2008 0.38 0.72 0.66
March 2008 0.28 0.73 0.64
April 2008 0.33 0.68 0.66
May 2008 0.29 0.68 0.63
June 2008 0.40 0.65 0.61
July 2008 0.31 0.62 0.57
August 2008 0.24 0.61 0.54
September 2008 0.28 0.54 0.53
October 2008 0.24 0.54 0.47
November 2008 0.19 0.46 0.42
December 2008 0.16 0.40 0.36
January 2009 0.13 0.36 0.34
February 2009 0.22 0.36 0.38
March 2009 0.15 0.35 0.36
April 2009 0.09 0.39 0.39
May 2009 0.13 0.41 0.43
June 2009 0.10 0.48 0.46
July 2009 0.09 0.51 0.49
August 2009 0.10 0.49 0.49
September 2009 0.08 0.51 0.48
October 2009 0.06 0.48 0.47
November 2009 0.09 0.50 0.48
December 2009 0.10 0.48 0.51
January 2010 0.10 0.51 0.50
February 2010 0.08 0.53 0.51
March 2010 0.09 0.54 0.54
April 2010 0.12 0.57 0.48
May 2010 0.13 0.46 0.44
June 2010 0.09 0.45 0.43
July 2010 0.12 0.43 0.41
August 2010 0.18 0.42 0.40
September 2010 0.15 0.45 0.40
October 2010 0.11 0.44 0.41
November 2010 0.09 0.45 0.42
December 2010 0.11 0.43 0.45
January 2011 0.20 0.43 0.42
February 2011 0.13 0.39 0.38
March 2011 0.17 0.43 0.40
April 2011 0.14 0.42 0.40
May 2011 0.15 0.41 0.41
June 2011 0.17 0.44 0.41
July 2011 0.19 0.43 0.42
August 2011 0.16 0.42 0.43
September 2011 0.23 0.42 0.43
October 2011 0.17 0.44 0.44
November 2011 0.25 0.47 0.45
December 2011 0.17 0.52 0.46
January 2012 0.21 0.52 0.46
February 2012 0.24 0.47 0.49
March 2012 0.22 0.47 0.48
April 2012 0.25 0.50 0.48
May 2012 0.19 0.52 0.50
June 2012 0.23 0.52 0.50
July 2012 0.22 0.52 0.52
August 2012 0.22 0.54 0.52
September 2012 0.25 0.59 0.56
October 2012 0.30 0.61 0.57
November 2012 0.26 0.57 0.57
December 2012 0.36 0.62 0.59
January 2013 0.28 0.61 0.59
February 2013 0.31 0.66 0.61
March 2013 0.38 0.62 0.61
April 2013 0.25 0.58 0.62
May 2013 0.32 0.60 0.62
June 2013 0.25 0.61 0.63
July 2013 0.29 0.60 0.62
August 2013 0.27 0.62 0.63
September 2013 0.28 0.58 0.62
October 2013 0.33 0.59 0.62
November 2013 0.39 0.71 0.65
December 2013 0.36 0.65 0.61
January 2014 0.31 0.58 0.62
February 2014 0.35 0.60 0.61
March 2014 0.31 0.65 0.62
April 2014 0.40 0.64 0.62
May 2014 0.35 0.64 0.63
June 2014 0.33 0.60 0.65
July 2014 0.44 0.66 0.64
August 2014 0.32 0.64 0.64
September 2014 0.37 0.66 0.65
October 2014 0.37 0.71 0.65
November 2014 0.34 0.67 0.66
December 2014 0.36 0.72 0.69
January 2015 0.37 0.71 0.66
February 2015 0.30 0.60 0.63
March 2015 0.33 0.62 0.64
April 2015 0.46 0.74 0.67
May 2015 0.38 0.70 0.68
June 2015 0.52 0.69 0.69
July 2015 0.39 0.76 0.68
August 2015 0.38 0.73 0.70
September 2015 0.47 0.74 0.69
October 2015 0.36 0.72 0.72
November 2015 0.39 0.79 0.73
December 2015 0.38 0.77 0.73

Note: The data extend through December 2015.

Source: Department of Commerce, Bureau of the Census.

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Figure 10. Change in real private nonresidential fixed investment

Percent, annual rate

Period Structures Equipment and intangible capital
2009 -27.12 -6.00
2010 -3.96 11.98
2011 8.00 9.21
2012 4.14 5.53
2013 6.51 3.61
2014 5.04 5.69
2015:H1 -0.81 3.90
2015:H2 -6.22 2.25

Source: Department of Commerce, Bureau of Economic Analysis.

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Figure 11. Change in real government expenditures on consumption and investment

Percent, annual rate

Period Federal State and local
2009 3.94 1.30
2010 3.25 -4.03
2011 -4.01 -2.35
2012 -2.14 -2.27
2013 -6.85 -0.16
2014 -0.77 1.09
2015:H1 0.54 1.72
2015:H2 1.46 1.09

Source: Department of Commerce, Bureau of Economic Analysis.

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Figure 12. Change in real imports and exports of goods and services

Percent, annual rate

Period Imports Exports
2009 -6.19 0.82
2010 11.99 10.08
2011 3.49 4.16
2012 0.27 2.18
2013 2.41 5.20
2014 5.37 2.40
2015:H1 5.06 -0.60
2015:H2 1.68 -0.91

Source: Department of Commerce, Bureau of Economic Analysis.

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Figure 13. Yields on nominal Treasury securities

Series: 5-, 10-, and 30-year yields on nominal Treasury securities

Horizon: January 2000 to February 4, 2016

Description: Daily data are plotted as three curves. Units are percent. The curves follow similar patterns and rarely intersect.

The 5-year Treasury yield curve starts in 2000 near 6.5 and declines steeply to just above 2 in 2003. The series gradually increases over the next three years to roughly 5 in 2006, where it stays until dropping to around 1.5 in late 2008. The series increases in the beginning of 2009 to roughly 2.5, and it remains between 2 and 3 until declining and returning to close to 1 during 2010. The series rises back above 2 in early 2011 but falls again below 1 in late 2011, where it stays until mid-2013, when the series has its last sharp increase to roughly 1.5. The series generally stays between 1 and 2 between mid-2013 and its end in February 2016.

The 10-year Treasury yield curve starts in 2000 slightly above 6.5 but does not fall as steeply as the 5-year Treasury yield curve; it reaches a low of roughly 3.5 in 2003. The series gradually increases over the next three years to roughly 5 in 2006, once again at the same level as the 5-year Treasury yield curve. After 2007, the 10-year Treasury yield curve remains above the 5-year Treasury yield curve by roughly 1 percentage point. The curve drops below 2.5 in late 2008. The series then increases in the beginning of 2009 to nearly 4, and it remains between 3 and 4 until declining and returning to close to 2.5 during 2010. The series rises back above 3 in early 2011 but falls again below 2 in late 2011, where it stays until mid-2013. In mid-2013, the series has its last sharp increase to 2.75. The series generally hovers around 2 between mid-2013 and its end in February 2016.

The 30-year Treasury yield curve starts in 2000 slightly above 6.5 and gradually falls to just above 5.25 in early 2002, when the series stops. The series resumes in early 2006 at roughly 4.5 and hovers around this value until late 2008, when the series rapidly spikes down to 2.5. The series rises back above 4 in mid-2009, where it remains until declining to around 3.75 during 2010. The series rises back near 4.5 in early 2011 but falls below 3 in late 2011, where it stays until mid-2013. In mid-2013, the series has its last sharp increase to nearly 4. The series falls gradually to about 2.25 in early 2015, reaching a level close to the 10-year Treasury yield. The series then rises and hovers around 3 between mid-2015 and its end in February 2016.

Note: The Treasury ceased publication of the 30-year constant maturity series on February 18, 2002, and resumed that series on February 9, 2006.

Source: Department of the Treasury.

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Figure 14. Equity prices

Series: Dow Jones bank index and S&P 500 index

Horizon: January 1994 to February 4, 2016

Description: Daily data are plotted as two curves. Units for both series have been indexed to 100 based on their respective values on December 31, 2007. The curves follow a similar pattern.

The Dow Jones bank index series starts in January 1994 at approximately 30. The series increases to approximately 110 in 1998, after which it fluctuates between about 70 and 100 from 1999 through 2003. The series then increases to approximately 140 in early 2007 before falling sharply to approximately 20 in early 2009. The series gradually recovers over the next several years, rising to approximately 80 in mid-2015 before dropping slightly to approximately 65 in February 2016.

The S&P 500 index series starts in January 1994 at approximately 30. The series increases to approximately 100 in 2000 before falling to approximately 50 by the end of 2002. The series then increases to approximately 100 in early 2007, after which it sharply falls to approximately 50 in early 2009. The series increases over the next several years to around 140 in 2015 before dropping slightly to about 130 in 2016.

Note: For Dow Jones Indices licensing information, see the note on the Contents page: For figures 32 and 36, note that the Dow Jones Bank Index and the S&P 500 Index ("Indexes") are a product of S&P Dow Jones Indices LLC and/or its affiliates and have been licensed for use by the Board. Copyright © 2016 S&P Dow Jones Indices LLC, a subsidiary of the McGraw Hill Financial Inc., and/or its affiliates. All rights reserved. Redistribution, reproduction and/or photocopying in whole or in part are prohibited without written permission of S&P Dow Jones Indices LLC. For more information on any of S&P Dow Jones Indices LLC's indices please visit www.spdji.com. S&P® is a registered trademark of Standard & Poor's Financial Services LLC and Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC. Neither S&P Dow Jones Indices LLC, Dow Jones Trademark Holdings LLC, their affiliates nor their third party licensors make any representation or warranty, express or implied, as to the ability of any index to accurately represent the asset class or market sector that it purports to represent and neither S&P Dow Jones Indices LLC, Dow Jones Trademark Holdings LLC, their affiliates nor their third party licensors shall have any liability for any errors, omissions, or interruptions of any index or the data included therein.

Source: The Dow Jones Bank Index and the S&P 500 Index are a product of S&P Dow Jones Indices LLC and/or its affiliates.

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Figure 15. Ratio of total commercial bank credit to nominal gross domestic product

Quarterly

Period Percent
2005:Q1 62.66
2005:Q2 63.41
2005:Q3 63.89
2005:Q4 64.22
2006:Q1 64.29
2006:Q2 65.37
2006:Q3 66.26
2006:Q4 66.47
2007:Q1 67.06
2007:Q2 67.45
2007:Q3 68.47
2007:Q4 69.55
2008:Q1 70.75
2008:Q2 70.43
2008:Q3 70.45
2008:Q4 72.35
2009:Q1 72.03
2009:Q2 71.36
2009:Q3 69.45
2009:Q4 66.90
2010:Q1 65.33
2010:Q2 63.49
2010:Q3 62.75
2010:Q4 62.14
2011:Q1 61.83
2011:Q2 60.80
2011:Q3 60.79
2011:Q4 60.84
2012:Q1 60.74
2012:Q2 60.71
2012:Q3 61.03
2012:Q4 61.24
2013:Q1 61.19
2013:Q2 61.03
2013:Q3 60.28
2013:Q4 59.78
2014:Q1 60.53
2014:Q2 60.65
2014:Q3 60.86
2014:Q4 61.37
2015:Q1 62.62
2015:Q2 62.80
2015:Q3 63.15
2015:Q4 63.92

Source: Federal Reserve Board, Statistical Release H.8, "Assets and Liabilities of Commercial Banks in the United States"; Department of Commerce, Bureau of Economic Analysis.

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Figure 16. U.S. dollar exchange rate indexes

Weekly
July 1, 2014 = 100

Period Broad Advanced foreign economies Emerging market economies
10 January 2013 97.44 97.38 97.50
17 January 2013 97.01 96.84 97.13
24 January 2013 97.29 97.45 97.17
31 January 2013 97.45 97.41 97.49
7 February 2013 97.47 97.50 97.44
14 February 2013 97.93 98.14 97.78
21 February 2013 98.25 98.85 97.80
28 February 2013 98.79 99.84 98.01
7 March 2013 99.08 100.55 97.99
14 March 2013 99.00 101.01 97.52
21 March 2013 98.89 100.72 97.54
28 March 2013 98.84 100.67 97.48
4 April 2013 98.77 100.61 97.41
11 April 2013 98.58 100.61 97.08
18 April 2013 98.53 100.63 96.98
25 April 2013 98.82 101.23 97.05
2 May 2013 98.14 100.14 96.66
9 May 2013 97.95 100.23 96.28
16 May 2013 98.97 101.85 96.86
23 May 2013 99.60 102.70 97.33
30 May 2013 99.92 102.43 98.07
6 June 2013 99.75 101.37 98.55
13 June 2013 99.22 99.83 98.76
20 June 2013 99.30 99.58 99.10
27 June 2013 100.95 101.87 100.26
4 July 2013 100.83 102.50 99.58
11 July 2013 101.22 103.31 99.67
18 July 2013 100.24 102.04 98.91
25 July 2013 99.83 101.25 98.78
1 August 2013 99.98 100.83 99.34
8 August 2013 99.85 100.76 99.17
15 August 2013 99.79 100.52 99.24
22 August 2013 100.38 100.50 100.29
29 August 2013 100.89 101.03 100.78
5 September 2013 101.37 101.78 101.05
12 September 2013 100.50 100.92 100.19
19 September 2013 99.77 100.19 99.46
26 September 2013 99.36 99.60 99.18
3 October 2013 99.50 99.22 99.72
10 October 2013 99.40 99.33 99.46
17 October 2013 99.15 99.55 98.85
24 October 2013 98.66 98.65 98.67
31 October 2013 98.88 99.08 98.72
7 November 2013 99.72 100.06 99.46
14 November 2013 100.15 100.60 99.82
21 November 2013 99.81 100.38 99.39
28 November 2013 100.14 100.74 99.70
5 December 2013 100.36 100.85 100.00
12 December 2013 99.82 100.41 99.38
19 December 2013 100.02 100.55 99.62
26 December 2013 100.32 100.89 99.89
2 January 2014 100.27 100.74 99.92
9 January 2014 100.68 101.46 100.11
16 January 2014 100.74 101.76 99.99
23 January 2014 101.35 102.27 100.67
30 January 2014 101.58 102.06 101.22
6 February 2014 101.69 102.25 101.28
13 February 2014 101.31 101.70 101.02
20 February 2014 101.07 101.31 100.90
27 February 2014 101.33 101.60 101.13
6 March 2014 101.20 101.22 101.18
13 March 2014 101.12 101.07 101.15
20 March 2014 101.25 100.98 101.44
27 March 2014 101.47 101.53 101.42
3 April 2014 101.16 101.39 100.98
10 April 2014 100.68 100.79 100.59
17 April 2014 100.71 100.68 100.73
24 April 2014 100.96 100.97 100.94
1 May 2014 100.94 100.73 101.10
8 May 2014 100.46 100.24 100.62
15 May 2014 100.52 100.72 100.38
22 May 2014 100.50 100.85 100.25
29 May 2014 100.64 101.11 100.29
5 June 2014 100.86 101.28 100.54
12 June 2014 100.78 101.34 100.37
19 June 2014 100.80 101.11 100.56
26 June 2014 100.52 100.64 100.42
3 July 2014 100.13 100.17 100.09
10 July 2014 100.16 100.32 100.04
17 July 2014 100.39 100.68 100.17
24 July 2014 100.49 100.97 100.12
31 July 2014 100.91 101.72 100.31
7 August 2014 101.38 102.10 100.84
14 August 2014 101.26 102.16 100.59
21 August 2014 101.19 102.43 100.28
28 August 2014 101.53 103.05 100.41
4 September 2014 101.73 103.50 100.43
11 September 2014 102.37 104.66 100.69
18 September 2014 102.78 104.92 101.20
25 September 2014 103.33 105.77 101.54
2 October 2014 104.15 106.81 102.20
9 October 2014 104.28 107.06 102.26
16 October 2014 104.10 106.56 102.31
23 October 2014 104.12 106.58 102.32
30 October 2014 104.10 106.62 102.26
6 November 2014 105.42 108.84 102.94
13 November 2014 105.82 109.23 103.34
20 November 2014 106.02 109.28 103.65
27 November 2014 106.17 109.46 103.77
4 December 2014 107.27 110.21 105.13
11 December 2014 108.18 110.81 106.26
18 December 2014 108.74 110.73 107.27
25 December 2014 109.25 112.10 107.17
1 January 2015 109.35 112.25 107.24
8 January 2015 110.41 114.00 107.81
15 January 2015 110.27 114.53 107.18
22 January 2015 110.78 115.71 107.24
29 January 2015 111.74 117.57 107.57
5 February 2015 112.15 117.60 108.24
12 February 2015 112.42 117.98 108.44
19 February 2015 112.23 117.51 108.45
26 February 2015 112.58 117.99 108.70
5 March 2015 113.08 118.90 108.91
12 March 2015 115.03 121.89 110.17
19 March 2015 115.56 122.98 110.30
26 March 2015 113.55 120.26 108.77
2 April 2015 114.00 121.10 108.97
9 April 2015 113.16 120.47 107.99
16 April 2015 113.90 121.49 108.54
23 April 2015 113.22 119.94 108.45
30 April 2015 112.15 118.05 107.94
7 May 2015 112.15 117.30 108.45
14 May 2015 111.66 116.52 108.16
21 May 2015 111.88 117.28 108.00
28 May 2015 113.48 120.05 108.81
4 June 2015 113.57 119.56 109.28
11 June 2015 113.44 118.68 109.68
18 June 2015 112.88 117.89 109.28
25 June 2015 112.91 118.09 109.18
2 July 2015 113.71 119.05 109.88
9 July 2015 114.54 120.27 110.44
16 July 2015 114.77 120.93 110.37
23 July 2015 115.72 122.08 111.18
30 July 2015 116.04 121.53 112.10
6 August 2015 116.59 122.36 112.45
13 August 2015 116.98 121.75 113.54
20 August 2015 117.74 121.54 114.98
27 August 2015 117.92 119.99 116.39
3 September 2015 118.13 121.25 115.86
10 September 2015 118.39 121.26 116.29
17 September 2015 117.91 120.65 115.91
24 September 2015 118.48 121.09 116.56
1 October 2015 118.83 121.56 116.83
8 October 2015 117.58 120.48 115.46
15 October 2015 116.44 119.20 114.42
22 October 2015 116.91 119.87 114.74
29 October 2015 117.81 121.86 114.87
5 November 2015 117.78 122.16 114.61
12 November 2015 119.23 124.12 115.70
19 November 2015 119.53 124.43 116.00
26 November 2015 119.28 124.67 115.40
3 December 2015 119.55 124.80 115.78
10 December 2015 119.69 123.79 116.72
17 December 2015 120.64 124.24 118.02
24 December 2015 120.82 124.62 118.05
31 December 2015 120.87 124.46 118.25
7 January 2016 122.14 125.49 119.70
14 January 2016 122.94 125.79 120.86
21 January 2016 123.75 126.27 121.90
28 January 2016 123.37 125.70 121.66
4 February 2016 122.68 124.71 121.18

Note: The data, which are in foreign currency units per dollar, are weekly averages of daily data and extend through February 4, 2016.

Source: Federal Reserve Board, Statistical Release H.10, "Foreign Exchange Rates."

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Figure 17. 10-year nominal benchmark yields in selected advanced economies

Series: U.S., U.K., German, and Japanese 10-year benchmark yields

Horizon: January 10, 2013 to February 4, 2016

Description: Weekly averages of daily data are plotted as four curves. Units are percent. The curves generally move in the same direction from 2013 to 2016, with Germany briefly dipping below Japan in 2015.

The series for the United States starts in January 2013 at about 1.9, dips close to 1.5 by mid-2013, and reaches near 3 around 2013:Q3 before decreasing and then rebounding back to about 3 in 2013:Q4. The series then starts to decrease, experiencing a few dips in an overall downward trend and reaching around 1.75 by the middle of 2015:Q1. The series increases to about 2.1 and decreases again back to around 1.85 by the end of 2015:Q1. The series climbs to close to 2.5 by the beginning of 2015:Q3 and fluctuates between about 2 and 2.3 until the end of 2015. The series declines to about 1.9 in early February 2016, where it ends.

The series for the United Kingdom starts in January 2013 at about 2, dips close to 1.5 by mid-2013, reaches near 3 around 2013:Q3, and decreases before subsequently rebounding to about 3 in 2013:Q4. The series then starts to decrease, experiencing a few dips in an overall downward trend and hitting a low point of around 1.5 by the middle of 2015:Q1. The series increases to about 1.75 and decreases again back to around 1.5 by the end of 2015:Q1. The series then climbs to close to 2 by the beginning of 2015:Q3 and fluctuates between about 1.75 to 2 until the end of 2015. The series declines to about 1.55 in early February 2016, where it ends.

The series for Germany starts at around 1.5 in January 2013. It increases slightly and then drops to about 1.2 by the beginning of 2013:Q2. The series then increases, reaching a high point of close to 2 by the end of 2013:Q3, and stays between about 2 and 1.75 through 2013. The series decreases at a steady rate from the beginning of 2014 onward, reaching its lowest point in April 2015 at slightly above 0. The series then increases back to almost 1 by the end of June 2015 before gradually declining to just above 0.3 in February 2016, where it ends.

The series for Japan starts slightly above 0.75 in January 2013, decreases to about 0.5 at the end of 2013:Q1, and increases back to around 0.75 in 2013:Q2. The series then stays fairly constant, decreasing gradually to about 0.25 by early 2015. Beginning in February 2015, it increases to almost 0.5, where it stays until June 2015. The series then gradually declines to just above 0 in February 2016, where it ends.

Note: The data are weekly averages of daily data and extend through February 4, 2016.

Source: Bloomberg.

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Figure 18. Selected interest rates

Target range for the federal funds rate
Percent

Period Target federal funds rate Upper target federal funds rate Lower target federal funds rate
11 December 2007 4.25 ND ND
22 January 2008 3.50 ND ND
30 January 2008 3.00 ND ND
18 March 2008 2.25 ND ND
30 April 2008 2.00 ND ND
25 June 2008 2.00 ND ND
5 August 2008 2.00 ND ND
16 September 2008 2.00 ND ND
8 October 2008 1.50 ND ND
29 October 2008 1.00 ND ND
16 December 2008 ND 0.25 0.00
28 January 2009 ND 0.25 0.00
18 March 2009 ND 0.25 0.00
29 April 2009 ND 0.25 0.00
24 June 2009 ND 0.25 0.00
12 August 2009 ND 0.25 0.00
23 September 2009 ND 0.25 0.00
4 November 2009 ND 0.25 0.00
16 December 2009 ND 0.25 0.00
27 January 2010 ND 0.25 0.00
16 March 2010 ND 0.25 0.00
28 April 2010 ND 0.25 0.00
23 June 2010 ND 0.25 0.00
10 August 2010 ND 0.25 0.00
21 September 2010 ND 0.25 0.00
3 November 2010 ND 0.25 0.00
14 December 2010 ND 0.25 0.00
26 January 2011 ND 0.25 0.00
15 March 2011 ND 0.25 0.00
27 April 2011 ND 0.25 0.00
22 June 2011 ND 0.25 0.00
9 August 2011 ND 0.25 0.00
21 September 2011 ND 0.25 0.00
2 November 2011 ND 0.25 0.00
13 December 2011 ND 0.25 0.00
25 January 2012 ND 0.25 0.00
13 March 2012 ND 0.25 0.00
25 April 2012 ND 0.25 0.00
20 June 2012 ND 0.25 0.00
1 August 2012 ND 0.25 0.00
13 September 2012 ND 0.25 0.00
24 October 2012 ND 0.25 0.00
12 December 2012 ND 0.25 0.00
30 January 2013 ND 0.25 0.00
20 March 2013 ND 0.25 0.00
1 May 2013 ND 0.25 0.00
19 June 2013 ND 0.25 0.00
31 July 2013 ND 0.25 0.00
18 September 2013 ND 0.25 0.00
30 October 2013 ND 0.25 0.00
18 December 2013 ND 0.25 0.00
29 January 2014 ND 0.25 0.00
19 March 2014 ND 0.25 0.00
30 April 2014 ND 0.25 0.00
18 June 2014 ND 0.25 0.00
30 July 2014 ND 0.25 0.00
17 September 2014 ND 0.25 0.00
29 October 2014 ND 0.25 0.00
17 December 2014 ND 0.25 0.00
28 January 2015 ND 0.25 0.00
18 March 2015 ND 0.25 0.00
29 April 2015 ND 0.25 0.00
17 June 2015 ND 0.25 0.00
29 July 2015 ND 0.25 0.00
17 September 2015 ND 0.25 0.00
28 October 2015 ND 0.25 0.00
16 December 2015 ND 0.25 0.00
17 December 2015 ND 0.50 0.25
27 January 2016 ND 0.50 0.25

Note: The dates on the horizontal axis are those of regularly scheduled Federal Open Market Committee meetings.

Source: Federal Reserve Board.

ND No data.

2-Year and 10-Year Treasury Rates
Daily
Percent

Date Two-year Treasury rate Ten-year Treasury rate
2 January 2008 2.88 3.91
3 January 2008 2.83 3.91
4 January 2008 2.74 3.88
7 January 2008 2.76 3.86
8 January 2008 2.76 3.86
9 January 2008 2.69 3.82
10 January 2008 2.71 3.91
11 January 2008 2.59 3.82
14 January 2008 2.58 3.81
15 January 2008 2.53 3.72
16 January 2008 2.51 3.74
17 January 2008 2.44 3.66
18 January 2008 2.36 3.66
21 January 2008 ND ND
22 January 2008 2.08 3.52
23 January 2008 2.09 3.51
24 January 2008 2.25 3.68
25 January 2008 2.23 3.61
28 January 2008 2.20 3.61
29 January 2008 2.29 3.69
30 January 2008 2.30 3.78
31 January 2008 2.17 3.67
1 February 2008 2.09 3.62
4 February 2008 2.08 3.68
5 February 2008 1.93 3.61
6 February 2008 1.96 3.61
7 February 2008 1.99 3.74
8 February 2008 1.93 3.64
11 February 2008 1.93 3.62
12 February 2008 1.94 3.66
13 February 2008 1.91 3.70
14 February 2008 1.93 3.85
15 February 2008 1.91 3.76
18 February 2008 ND ND
19 February 2008 2.06 3.89
20 February 2008 2.14 3.93
21 February 2008 1.98 3.77
22 February 2008 1.98 3.79
25 February 2008 2.13 3.91
26 February 2008 2.04 3.88
27 February 2008 2.01 3.85
28 February 2008 1.87 3.71
29 February 2008 1.65 3.53
3 March 2008 1.61 3.54
4 March 2008 1.65 3.63
5 March 2008 1.66 3.70
6 March 2008 1.53 3.62
7 March 2008 1.53 3.56
10 March 2008 1.47 3.46
11 March 2008 1.74 3.60
12 March 2008 1.63 3.49
13 March 2008 1.63 3.56
14 March 2008 1.47 3.44
17 March 2008 1.35 3.34
18 March 2008 1.58 3.48
19 March 2008 1.54 3.38
20 March 2008 1.59 3.34
21 March 2008 ND ND
24 March 2008 1.84 3.56
25 March 2008 1.79 3.51
26 March 2008 1.71 3.51
27 March 2008 1.73 3.56
28 March 2008 1.67 3.47
31 March 2008 1.62 3.45
1 April 2008 1.80 3.57
2 April 2008 1.88 3.60
3 April 2008 1.91 3.61
4 April 2008 1.83 3.50
7 April 2008 1.95 3.57
8 April 2008 1.87 3.58
9 April 2008 1.77 3.49
10 April 2008 1.84 3.55
11 April 2008 1.76 3.49
14 April 2008 1.78 3.53
15 April 2008 1.84 3.60
16 April 2008 1.98 3.72
17 April 2008 2.13 3.75
18 April 2008 2.19 3.77
21 April 2008 2.20 3.75
22 April 2008 2.24 3.74
23 April 2008 2.22 3.77
24 April 2008 2.41 3.87
25 April 2008 2.44 3.91
28 April 2008 2.36 3.86
29 April 2008 2.35 3.85
30 April 2008 2.29 3.77
1 May 2008 2.37 3.78
2 May 2008 2.47 3.89
5 May 2008 2.42 3.88
6 May 2008 2.38 3.93
7 May 2008 2.31 3.87
8 May 2008 2.25 3.79
9 May 2008 2.25 3.77
12 May 2008 2.30 3.78
13 May 2008 2.47 3.90
14 May 2008 2.53 3.92
15 May 2008 2.45 3.83
16 May 2008 2.47 3.85
19 May 2008 2.42 3.83
20 May 2008 2.34 3.78
21 May 2008 2.41 3.81
22 May 2008 2.56 3.92
23 May 2008 2.46 3.85
26 May 2008 ND ND
27 May 2008 2.55 3.93
28 May 2008 2.62 4.03
29 May 2008 2.67 4.08
30 May 2008 2.66 4.06
2 June 2008 2.51 3.98
3 June 2008 2.45 3.92
4 June 2008 2.47 3.98
5 June 2008 2.52 4.06
6 June 2008 2.40 3.94
9 June 2008 2.73 4.02
10 June 2008 2.91 4.11
11 June 2008 2.83 4.10
12 June 2008 3.03 4.23
13 June 2008 3.05 4.27
16 June 2008 3.02 4.25
17 June 2008 2.94 4.23
18 June 2008 2.89 4.16
19 June 2008 2.99 4.22
20 June 2008 2.88 4.16
23 June 2008 2.98 4.19
24 June 2008 2.87 4.10
25 June 2008 2.82 4.12
26 June 2008 2.68 4.07
27 June 2008 2.65 3.99
30 June 2008 2.63 3.99
1 July 2008 2.63 4.01
2 July 2008 2.60 3.99
3 July 2008 2.54 3.99
4 July 2008 ND ND
7 July 2008 2.47 3.95
8 July 2008 2.47 3.91
9 July 2008 2.41 3.85
10 July 2008 2.44 3.83
11 July 2008 2.59 3.96
14 July 2008 2.47 3.90
15 July 2008 2.39 3.87
16 July 2008 2.44 3.97
17 July 2008 2.58 4.07
18 July 2008 2.66 4.11
21 July 2008 2.66 4.09
22 July 2008 2.74 4.14
23 July 2008 2.81 4.16
24 July 2008 2.61 4.03
25 July 2008 2.70 4.13
28 July 2008 2.59 4.06
29 July 2008 2.65 4.09
30 July 2008 2.64 4.07
31 July 2008 2.52 3.99
1 August 2008 2.51 3.97
4 August 2008 2.53 3.98
5 August 2008 2.54 4.04
6 August 2008 2.56 4.06
7 August 2008 2.43 3.92
8 August 2008 2.51 3.94
11 August 2008 2.56 3.99
12 August 2008 2.45 3.91
13 August 2008 2.50 3.94
14 August 2008 2.45 3.89
15 August 2008 2.40 3.84
18 August 2008 2.35 3.82
19 August 2008 2.32 3.83
20 August 2008 2.25 3.79
21 August 2008 2.33 3.84
22 August 2008 2.42 3.87
25 August 2008 2.33 3.79
26 August 2008 2.35 3.79
27 August 2008 2.31 3.77
28 August 2008 2.37 3.79
29 August 2008 2.36 3.83
1 September 2008 ND ND
2 September 2008 2.26 3.74
3 September 2008 2.26 3.71
4 September 2008 2.20 3.64
5 September 2008 2.23 3.66
8 September 2008 2.30 3.66
9 September 2008 2.23 3.62
10 September 2008 2.22 3.65
11 September 2008 2.18 3.64
12 September 2008 2.23 3.74
15 September 2008 1.78 3.47
16 September 2008 1.89 3.48
17 September 2008 1.64 3.41
18 September 2008 1.78 3.54
19 September 2008 2.16 3.78
22 September 2008 2.13 3.83
23 September 2008 2.11 3.85
24 September 2008 2.03 3.80
25 September 2008 2.16 3.88
26 September 2008 2.11 3.85
29 September 2008 1.70 3.61
30 September 2008 2.00 3.85
1 October 2008 1.82 3.77
2 October 2008 1.62 3.66
3 October 2008 1.60 3.63
6 October 2008 1.43 3.48
7 October 2008 1.47 3.50
8 October 2008 1.65 3.72
9 October 2008 1.65 3.84
10 October 2008 1.62 3.89
13 October 2008 ND ND
14 October 2008 1.82 4.08
15 October 2008 1.64 4.04
16 October 2008 1.61 3.99
17 October 2008 1.64 3.98
20 October 2008 1.71 3.91
21 October 2008 1.58 3.76
22 October 2008 1.53 3.65
23 October 2008 1.54 3.63
24 October 2008 1.57 3.76
27 October 2008 1.59 3.79
28 October 2008 1.65 3.89
29 October 2008 1.58 3.93
30 October 2008 1.59 4.00
31 October 2008 1.56 4.01
3 November 2008 1.45 3.96
4 November 2008 1.39 3.81
5 November 2008 1.36 3.73
6 November 2008 1.28 3.75
7 November 2008 1.33 3.83
10 November 2008 1.27 3.82
11 November 2008 ND ND
12 November 2008 1.19 3.75
13 November 2008 1.24 3.84
14 November 2008 1.22 3.72
17 November 2008 1.22 3.68
18 November 2008 1.15 3.53
19 November 2008 1.09 3.38
20 November 2008 1.00 3.10
21 November 2008 1.09 3.20
24 November 2008 1.31 3.35
25 November 2008 1.15 3.11
26 November 2008 1.09 2.99
27 November 2008 ND ND
28 November 2008 1.00 2.93
1 December 2008 0.90 2.72
2 December 2008 0.90 2.68
3 December 2008 0.87 2.67
4 December 2008 0.82 2.55
5 December 2008 0.93 2.67
8 December 2008 0.97 2.77
9 December 2008 0.84 2.67
10 December 2008 0.86 2.69
11 December 2008 0.79 2.64
12 December 2008 0.78 2.60
15 December 2008 0.75 2.53
16 December 2008 0.65 2.37
17 December 2008 0.73 2.20
18 December 2008 0.68 2.08
19 December 2008 0.74 2.13
22 December 2008 0.87 2.16
23 December 2008 0.90 2.18
24 December 2008 0.90 2.20
25 December 2008 ND ND
26 December 2008 0.89 2.16
29 December 2008 0.78 2.13
30 December 2008 0.75 2.11
31 December 2008 0.76 2.25
1 January 2009 ND ND
2 January 2009 0.88 2.46
5 January 2009 0.78 2.49
6 January 2009 0.80 2.51
7 January 2009 0.82 2.52
8 January 2009 0.83 2.47
9 January 2009 0.75 2.43
12 January 2009 0.74 2.34
13 January 2009 0.76 2.33
14 January 2009 0.73 2.24
15 January 2009 0.73 2.23
16 January 2009 0.73 2.36
19 January 2009 ND ND
20 January 2009 0.73 2.40
21 January 2009 0.78 2.56
22 January 2009 0.75 2.62
23 January 2009 0.83 2.65
26 January 2009 0.85 2.70
27 January 2009 0.87 2.59
28 January 2009 0.89 2.71
29 January 2009 0.95 2.87
30 January 2009 0.94 2.87
2 February 2009 0.89 2.76
3 February 2009 0.96 2.89
4 February 2009 0.98 2.95
5 February 2009 0.98 2.95
6 February 2009 0.99 3.05
9 February 2009 1.05 3.07
10 February 2009 0.92 2.90
11 February 2009 0.93 2.78
12 February 2009 0.89 2.75
13 February 2009 0.97 2.89
16 February 2009 ND ND
17 February 2009 0.87 2.64
18 February 2009 0.97 2.74
19 February 2009 1.01 2.85
20 February 2009 0.96 2.78
23 February 2009 0.96 2.78
24 February 2009 1.03 2.80
25 February 2009 1.09 2.95
26 February 2009 1.08 2.98
27 February 2009 1.00 3.02
2 March 2009 0.89 2.91
3 March 2009 0.91 2.93
4 March 2009 0.97 3.01
5 March 2009 0.90 2.83
6 March 2009 0.91 2.83
9 March 2009 0.96 2.89
10 March 2009 1.01 2.99
11 March 2009 1.03 2.95
12 March 2009 1.03 2.89
13 March 2009 0.98 2.89
16 March 2009 1.00 2.97
17 March 2009 1.05 3.02
18 March 2009 0.82 2.51
19 March 2009 0.87 2.61
20 March 2009 0.89 2.65
23 March 2009 0.93 2.68
24 March 2009 0.93 2.68
25 March 2009 0.96 2.81
26 March 2009 0.90 2.76
27 March 2009 0.90 2.78
30 March 2009 0.84 2.73
31 March 2009 0.81 2.71
1 April 2009 0.83 2.68
2 April 2009 0.88 2.77
3 April 2009 0.96 2.91
6 April 2009 0.94 2.95
7 April 2009 0.91 2.93
8 April 2009 0.93 2.86
9 April 2009 0.96 2.96
10 April 2009 ND ND
13 April 2009 0.89 2.88
14 April 2009 0.86 2.80
15 April 2009 0.86 2.82
16 April 2009 0.91 2.86
17 April 2009 0.99 2.98
20 April 2009 0.93 2.88
21 April 2009 0.96 2.94
22 April 2009 1.00 2.98
23 April 2009 0.97 2.96
24 April 2009 0.99 3.03
27 April 2009 0.90 2.95
28 April 2009 0.95 3.05
29 April 2009 0.94 3.12
30 April 2009 0.91 3.16
1 May 2009 0.92 3.21
4 May 2009 0.94 3.19
5 May 2009 0.98 3.20
6 May 2009 0.96 3.18
7 May 2009 1.00 3.29
8 May 2009 1.00 3.29
11 May 2009 0.92 3.17
12 May 2009 0.90 3.17
13 May 2009 0.89 3.11
14 May 2009 0.87 3.10
15 May 2009 0.88 3.14
18 May 2009 0.93 3.22
19 May 2009 0.91 3.25
20 May 2009 0.87 3.19
21 May 2009 0.89 3.35
22 May 2009 0.92 3.45
25 May 2009 ND ND
26 May 2009 0.96 3.50
27 May 2009 0.96 3.71
28 May 2009 0.97 3.67
29 May 2009 0.92 3.47
1 June 2009 0.97 3.71
2 June 2009 0.96 3.65
3 June 2009 0.91 3.56
4 June 2009 0.96 3.72
5 June 2009 1.32 3.84
8 June 2009 1.42 3.91
9 June 2009 1.33 3.86
10 June 2009 1.38 3.98
11 June 2009 1.35 3.88
12 June 2009 1.30 3.81
15 June 2009 1.26 3.76
16 June 2009 1.23 3.67
17 June 2009 1.19 3.68
18 June 2009 1.28 3.86
19 June 2009 1.25 3.79
22 June 2009 1.17 3.72
23 June 2009 1.14 3.65
24 June 2009 1.19 3.72
25 June 2009 1.12 3.55
26 June 2009 1.10 3.52
29 June 2009 1.11 3.51
30 June 2009 1.11 3.53
1 July 2009 1.05 3.55
2 July 2009 0.98 3.51
3 July 2009 ND ND
6 July 2009 0.96 3.52
7 July 2009 0.98 3.47
8 July 2009 0.91 3.33
9 July 2009 0.94 3.44
10 July 2009 0.91 3.32
13 July 2009 0.92 3.38
14 July 2009 0.97 3.50
15 July 2009 1.03 3.63
16 July 2009 1.00 3.59
17 July 2009 1.02 3.67
20 July 2009 0.99 3.61
21 July 2009 0.96 3.50
22 July 2009 0.98 3.58
23 July 2009 1.08 3.72
24 July 2009 1.05 3.70
27 July 2009 1.08 3.75
28 July 2009 1.12 3.72
29 July 2009 1.17 3.69
30 July 2009 1.19 3.67
31 July 2009 1.13 3.52
3 August 2009 1.18 3.66
4 August 2009 1.20 3.70
5 August 2009 1.23 3.80
6 August 2009 1.22 3.79
7 August 2009 1.32 3.89
10 August 2009 1.24 3.80
11 August 2009 1.21 3.71
12 August 2009 1.18 3.72
13 August 2009 1.12 3.59
14 August 2009 1.07 3.55
17 August 2009 1.04 3.48
18 August 2009 1.06 3.51
19 August 2009 1.01 3.45
20 August 2009 1.03 3.42
21 August 2009 1.13 3.56
24 August 2009 1.05 3.48
25 August 2009 1.05 3.45
26 August 2009 1.06 3.44
27 August 2009 1.04 3.47
28 August 2009 1.01 3.46
31 August 2009 0.97 3.40
1 September 2009 0.92 3.38
2 September 2009 0.89 3.29
3 September 2009 0.91 3.33
4 September 2009 0.94 3.45
7 September 2009 ND ND
8 September 2009 0.93 3.47
9 September 2009 0.93 3.48
10 September 2009 0.90 3.36
11 September 2009 0.90 3.34
14 September 2009 0.94 3.42
15 September 2009 0.96 3.47
16 September 2009 1.01 3.48
17 September 2009 0.98 3.42
18 September 2009 1.03 3.49
21 September 2009 1.02 3.49
22 September 2009 1.02 3.46
23 September 2009 0.96 3.44
24 September 2009 0.93 3.40
25 September 2009 0.98 3.34
28 September 2009 0.98 3.31
29 September 2009 1.00 3.31
30 September 2009 0.95 3.31
1 October 2009 0.87 3.21
2 October 2009 0.88 3.24
5 October 2009 0.88 3.24
6 October 2009 0.91 3.27
7 October 2009 0.87 3.21
8 October 2009 0.90 3.27
9 October 2009 0.98 3.40
12 October 2009 ND ND
13 October 2009 0.91 3.34
14 October 2009 0.96 3.45
15 October 2009 0.97 3.49
16 October 2009 0.97 3.43
19 October 2009 0.99 3.41
20 October 2009 0.95 3.35
21 October 2009 1.00 3.42
22 October 2009 0.97 3.44
23 October 2009 1.04 3.51
26 October 2009 1.06 3.59
27 October 2009 0.99 3.49
28 October 2009 0.95 3.44
29 October 2009 0.98 3.53
30 October 2009 0.90 3.41
2 November 2009 0.92 3.45
3 November 2009 0.92 3.50
4 November 2009 0.91 3.57
5 November 2009 0.90 3.57
6 November 2009 0.86 3.54
9 November 2009 0.87 3.52
10 November 2009 0.85 3.50
11 November 2009 ND ND
12 November 2009 0.82 3.45
13 November 2009 0.82 3.43
16 November 2009 0.78 3.33
17 November 2009 0.78 3.33
18 November 2009 0.77 3.36
19 November 2009 0.73 3.35
20 November 2009 0.75 3.36
23 November 2009 0.77 3.37
24 November 2009 0.73 3.32
25 November 2009 0.73 3.28
26 November 2009 ND ND
27 November 2009 0.68 3.21
30 November 2009 0.67 3.21
1 December 2009 0.67 3.28
2 December 2009 0.72 3.32
3 December 2009 0.74 3.39
4 December 2009 0.84 3.48
7 December 2009 0.78 3.44
8 December 2009 0.73 3.40
9 December 2009 0.76 3.45
10 December 2009 0.78 3.49
11 December 2009 0.83 3.55
14 December 2009 0.87 3.56
15 December 2009 0.88 3.60
16 December 2009 0.85 3.61
17 December 2009 0.77 3.50
18 December 2009 0.82 3.55
21 December 2009 0.89 3.69
22 December 2009 0.95 3.76
23 December 2009 0.96 3.77
24 December 2009 1.00 3.82
25 December 2009 ND ND
28 December 2009 1.09 3.85
29 December 2009 1.09 3.82
30 December 2009 1.08 3.80
31 December 2009 1.14 3.85
1 January 2010 ND ND
4 January 2010 1.09 3.85
5 January 2010 1.01 3.77
6 January 2010 1.01 3.85
7 January 2010 1.03 3.85
8 January 2010 0.96 3.83
11 January 2010 0.95 3.85
12 January 2010 0.92 3.74
13 January 2010 0.97 3.80
14 January 2010 0.94 3.76
15 January 2010 0.89 3.70
18 January 2010 ND ND
19 January 2010 0.93 3.73
20 January 2010 0.92 3.68
21 January 2010 0.87 3.62
22 January 2010 0.84 3.62
25 January 2010 0.86 3.66
26 January 2010 0.87 3.65
27 January 2010 0.90 3.66
28 January 2010 0.87 3.68
29 January 2010 0.82 3.63
1 February 2010 0.86 3.68
2 February 2010 0.86 3.67
3 February 2010 0.88 3.73
4 February 2010 0.80 3.62
5 February 2010 0.77 3.59
8 February 2010 0.79 3.62
9 February 2010 0.84 3.67
10 February 2010 0.91 3.72
11 February 2010 0.91 3.73
12 February 2010 0.84 3.69
15 February 2010 ND ND
16 February 2010 0.82 3.66
17 February 2010 0.87 3.74
18 February 2010 0.90 3.79
19 February 2010 0.95 3.78
22 February 2010 0.91 3.80
23 February 2010 0.87 3.69
24 February 2010 0.87 3.70
25 February 2010 0.82 3.64
26 February 2010 0.81 3.61
1 March 2010 0.80 3.61
2 March 2010 0.80 3.62
3 March 2010 0.82 3.63
4 March 2010 0.86 3.61
5 March 2010 0.91 3.69
8 March 2010 0.90 3.72
9 March 2010 0.89 3.71
10 March 2010 0.92 3.73
11 March 2010 0.97 3.73
12 March 2010 0.97 3.71
15 March 2010 0.96 3.71
16 March 2010 0.93 3.66
17 March 2010 0.95 3.65
18 March 2010 0.98 3.68
19 March 2010 1.02 3.70
22 March 2010 1.01 3.67
23 March 2010 1.02 3.69
24 March 2010 1.08 3.84
25 March 2010 1.10 3.91
26 March 2010 1.04 3.86
29 March 2010 1.04 3.88
30 March 2010 1.06 3.88
31 March 2010 1.02 3.84
1 April 2010 1.05 3.89
2 April 2010 1.11 3.96
5 April 2010 1.18 4.01
6 April 2010 1.14 3.98
7 April 2010 1.06 3.89
8 April 2010 1.09 3.91
9 April 2010 1.08 3.90
12 April 2010 1.07 3.87
13 April 2010 1.07 3.84
14 April 2010 1.07 3.88
15 April 2010 1.04 3.86
16 April 2010 0.98 3.79
19 April 2010 1.01 3.83
20 April 2010 1.05 3.82
21 April 2010 1.03 3.77
22 April 2010 1.07 3.80
23 April 2010 1.10 3.84
26 April 2010 1.09 3.83
27 April 2010 1.03 3.71
28 April 2010 1.03 3.80
29 April 2010 1.01 3.76
30 April 2010 0.97 3.69
3 May 2010 1.00 3.72
4 May 2010 0.96 3.63
5 May 2010 0.88 3.58
6 May 2010 0.75 3.41
7 May 2010 0.83 3.45
10 May 2010 0.87 3.57
11 May 2010 0.85 3.56
12 May 2010 0.89 3.56
13 May 2010 0.87 3.55
14 May 2010 0.79 3.44
17 May 2010 0.81 3.47
18 May 2010 0.76 3.38
19 May 2010 0.80 3.36
20 May 2010 0.76 3.25
21 May 2010 0.76 3.20
24 May 2010 0.77 3.23
25 May 2010 0.81 3.18
26 May 2010 0.82 3.21
27 May 2010 0.87 3.34
28 May 2010 0.76 3.31
31 May 2010 ND ND
1 June 2010 0.78 3.29
2 June 2010 0.82 3.35
3 June 2010 0.82 3.39
4 June 2010 0.72 3.20
7 June 2010 0.74 3.17
8 June 2010 0.74 3.18
9 June 2010 0.74 3.20
10 June 2010 0.79 3.33
11 June 2010 0.75 3.24
14 June 2010 0.77 3.28
15 June 2010 0.79 3.32
16 June 2010 0.75 3.27
17 June 2010 0.72 3.21
18 June 2010 0.74 3.24
21 June 2010 0.74 3.26
22 June 2010 0.71 3.18
23 June 2010 0.66 3.13
24 June 2010 0.67 3.14
25 June 2010 0.65 3.12
28 June 2010 0.62 3.05
29 June 2010 0.61 2.97
30 June 2010 0.61 2.97
1 July 2010 0.63 2.96
2 July 2010 0.63 3.00
5 July 2010 ND ND
6 July 2010 0.62 2.95
7 July 2010 0.63 3.00
8 July 2010 0.63 3.04
9 July 2010 0.63 3.07
12 July 2010 0.65 3.08
13 July 2010 0.67 3.15
14 July 2010 0.62 3.07
15 July 2010 0.61 3.00
16 July 2010 0.61 2.96
19 July 2010 0.61 2.99
20 July 2010 0.61 2.98
21 July 2010 0.58 2.90
22 July 2010 0.60 2.96
23 July 2010 0.60 3.02
26 July 2010 0.62 3.03
27 July 2010 0.65 3.08
28 July 2010 0.61 3.03
29 July 2010 0.59 3.03
30 July 2010 0.55 2.94
2 August 2010 0.56 2.99
3 August 2010 0.53 2.94
4 August 2010 0.56 2.98
5 August 2010 0.53 2.94
6 August 2010 0.50 2.86
9 August 2010 0.54 2.86
10 August 2010 0.52 2.79
11 August 2010 0.54 2.72
12 August 2010 0.55 2.74
13 August 2010 0.54 2.68
16 August 2010 0.51 2.58
17 August 2010 0.52 2.64
18 August 2010 0.51 2.64
19 August 2010 0.49 2.58
20 August 2010 0.49 2.62
23 August 2010 0.49 2.60
24 August 2010 0.50 2.50
25 August 2010 0.53 2.54
26 August 2010 0.51 2.50
27 August 2010 0.56 2.66
30 August 2010 0.50 2.54
31 August 2010 0.47 2.47
1 September 2010 0.50 2.58
2 September 2010 0.50 2.63
3 September 2010 0.52 2.72
6 September 2010 ND ND
7 September 2010 0.49 2.61
8 September 2010 0.52 2.66
9 September 2010 0.57 2.77
10 September 2010 0.58 2.81
13 September 2010 0.53 2.74
14 September 2010 0.50 2.68
15 September 2010 0.50 2.74
16 September 2010 0.48 2.77
17 September 2010 0.48 2.75
20 September 2010 0.47 2.72
21 September 2010 0.43 2.61
22 September 2010 0.44 2.56
23 September 2010 0.45 2.56
24 September 2010 0.45 2.62
27 September 2010 0.44 2.54
28 September 2010 0.37 2.48
29 September 2010 0.44 2.52
30 September 2010 0.42 2.53
1 October 2010 0.42 2.54
4 October 2010 0.41 2.50
5 October 2010 0.41 2.50
6 October 2010 0.38 2.41
7 October 2010 0.36 2.41
8 October 2010 0.35 2.41
11 October 2010 ND ND
12 October 2010 0.37 2.44
13 October 2010 0.37 2.46
14 October 2010 0.38 2.52
15 October 2010 0.37 2.59
18 October 2010 0.38 2.52
19 October 2010 0.37 2.50
20 October 2010 0.35 2.51
21 October 2010 0.37 2.57
22 October 2010 0.35 2.59
25 October 2010 0.37 2.59
26 October 2010 0.40 2.67
27 October 2010 0.40 2.75
28 October 2010 0.37 2.69
29 October 2010 0.34 2.63
1 November 2010 0.34 2.66
2 November 2010 0.34 2.63
3 November 2010 0.34 2.67
4 November 2010 0.33 2.53
5 November 2010 0.38 2.58
8 November 2010 0.41 2.60
9 November 2010 0.46 2.72
10 November 2010 0.44 2.65
11 November 2010 ND ND
12 November 2010 0.51 2.76
15 November 2010 0.53 2.92
16 November 2010 0.51 2.85
17 November 2010 0.50 2.89
18 November 2010 0.52 2.90
19 November 2010 0.52 2.88
22 November 2010 0.49 2.80
23 November 2010 0.45 2.77
24 November 2010 0.53 2.93
25 November 2010 ND ND
26 November 2010 0.51 2.87
29 November 2010 0.52 2.84
30 November 2010 0.45 2.81
1 December 2010 0.53 2.97
2 December 2010 0.55 3.01
3 December 2010 0.49 3.03
6 December 2010 0.42 2.95
7 December 2010 0.54 3.15
8 December 2010 0.63 3.26
9 December 2010 0.64 3.23
10 December 2010 0.64 3.32
13 December 2010 0.61 3.29
14 December 2010 0.66 3.49
15 December 2010 0.68 3.53
16 December 2010 0.66 3.47
17 December 2010 0.61 3.33
20 December 2010 0.62 3.36
21 December 2010 0.63 3.35
22 December 2010 0.65 3.36
23 December 2010 0.67 3.41
24 December 2010 ND ND
27 December 2010 0.71 3.36
28 December 2010 0.75 3.50
29 December 2010 0.64 3.35
30 December 2010 0.66 3.38
31 December 2010 0.61 3.30
3 January 2011 0.61 3.36
4 January 2011 0.63 3.36
5 January 2011 0.71 3.50
6 January 2011 0.68 3.44
7 January 2011 0.60 3.34
10 January 2011 0.59 3.32
11 January 2011 0.60 3.37
12 January 2011 0.61 3.40
13 January 2011 0.59 3.34
14 January 2011 0.59 3.35
17 January 2011 ND ND
18 January 2011 0.60 3.39
19 January 2011 0.60 3.37
20 January 2011 0.65 3.47
21 January 2011 0.63 3.44
24 January 2011 0.65 3.43
25 January 2011 0.62 3.35
26 January 2011 0.62 3.45
27 January 2011 0.59 3.42
28 January 2011 0.54 3.36
31 January 2011 0.58 3.42
1 February 2011 0.61 3.48
2 February 2011 0.67 3.52
3 February 2011 0.71 3.58
4 February 2011 0.77 3.68
7 February 2011 0.78 3.68
8 February 2011 0.86 3.75
9 February 2011 0.81 3.65
10 February 2011 0.85 3.70
11 February 2011 0.85 3.64
14 February 2011 0.87 3.62
15 February 2011 0.84 3.61
16 February 2011 0.86 3.62
17 February 2011 0.80 3.58
18 February 2011 0.78 3.59
21 February 2011 ND ND
22 February 2011 0.74 3.46
23 February 2011 0.74 3.49
24 February 2011 0.73 3.46
25 February 2011 0.72 3.42
28 February 2011 0.69 3.42
1 March 2011 0.66 3.41
2 March 2011 0.69 3.46
3 March 2011 0.79 3.58
4 March 2011 0.68 3.49
7 March 2011 0.70 3.51
8 March 2011 0.73 3.56
9 March 2011 0.70 3.48
10 March 2011 0.65 3.37
11 March 2011 0.64 3.40
14 March 2011 0.61 3.36
15 March 2011 0.63 3.33
16 March 2011 0.58 3.22
17 March 2011 0.60 3.25
18 March 2011 0.61 3.28
21 March 2011 0.67 3.34
22 March 2011 0.68 3.34
23 March 2011 0.69 3.36
24 March 2011 0.72 3.42
25 March 2011 0.79 3.46
28 March 2011 0.81 3.47
29 March 2011 0.81 3.50
30 March 2011 0.80 3.47
31 March 2011 0.80 3.47
1 April 2011 0.80 3.46
4 April 2011 0.77 3.45
5 April 2011 0.84 3.50
6 April 2011 0.85 3.56
7 April 2011 0.81 3.58
8 April 2011 0.83 3.59
11 April 2011 0.85 3.59
12 April 2011 0.77 3.52
13 April 2011 0.75 3.49
14 April 2011 0.77 3.51
15 April 2011 0.71 3.43
18 April 2011 0.69 3.40
19 April 2011 0.68 3.39
20 April 2011 0.69 3.43
21 April 2011 0.68 3.42
22 April 2011 ND ND
25 April 2011 0.67 3.39
26 April 2011 0.65 3.34
27 April 2011 0.65 3.39
28 April 2011 0.62 3.34
29 April 2011 0.61 3.32
2 May 2011 0.61 3.31
3 May 2011 0.61 3.28
4 May 2011 0.60 3.25
5 May 2011 0.58 3.18
6 May 2011 0.57 3.19
9 May 2011 0.57 3.17
10 May 2011 0.59 3.23
11 May 2011 0.56 3.19
12 May 2011 0.57 3.22
13 May 2011 0.57 3.18
16 May 2011 0.54 3.15
17 May 2011 0.55 3.12
18 May 2011 0.58 3.18
19 May 2011 0.55 3.17
20 May 2011 0.55 3.15
23 May 2011 0.55 3.13
24 May 2011 0.56 3.12
25 May 2011 0.54 3.13
26 May 2011 0.48 3.07
27 May 2011 0.48 3.07
30 May 2011 ND ND
31 May 2011 0.45 3.05
1 June 2011 0.44 2.96
2 June 2011 0.45 3.04
3 June 2011 0.42 2.99
6 June 2011 0.43 3.01
7 June 2011 0.39 3.01
8 June 2011 0.39 2.98
9 June 2011 0.43 3.01
10 June 2011 0.41 2.99
13 June 2011 0.40 3.00
14 June 2011 0.45 3.11
15 June 2011 0.38 2.98
16 June 2011 0.38 2.93
17 June 2011 0.38 2.94
20 June 2011 0.38 2.97
21 June 2011 0.40 2.99
22 June 2011 0.39 3.01
23 June 2011 0.35 2.93
24 June 2011 0.35 2.88
27 June 2011 0.41 2.95
28 June 2011 0.48 3.05
29 June 2011 0.47 3.14
30 June 2011 0.45 3.18
1 July 2011 0.50 3.22
4 July 2011 ND ND
5 July 2011 0.44 3.16
6 July 2011 0.43 3.12
7 July 2011 0.49 3.17
8 July 2011 0.40 3.03
11 July 2011 0.37 2.94
12 July 2011 0.37 2.92
13 July 2011 0.37 2.92
14 July 2011 0.38 2.98
15 July 2011 0.37 2.94
18 July 2011 0.37 2.94
19 July 2011 0.39 2.91
20 July 2011 0.40 2.96
21 July 2011 0.40 3.03
22 July 2011 0.40 2.99
25 July 2011 0.42 3.03
26 July 2011 0.41 2.99
27 July 2011 0.44 3.01
28 July 2011 0.42 2.98
29 July 2011 0.36 2.82
1 August 2011 0.38 2.77
2 August 2011 0.33 2.66
3 August 2011 0.33 2.64
4 August 2011 0.27 2.47
5 August 2011 0.28 2.58
8 August 2011 0.27 2.40
9 August 2011 0.19 2.20
10 August 2011 0.19 2.17
11 August 2011 0.19 2.34
12 August 2011 0.20 2.24
15 August 2011 0.19 2.29
16 August 2011 0.20 2.23
17 August 2011 0.19 2.17
18 August 2011 0.20 2.08
19 August 2011 0.20 2.07
22 August 2011 0.22 2.10
23 August 2011 0.22 2.15
24 August 2011 0.23 2.29
25 August 2011 0.22 2.23
26 August 2011 0.20 2.19
29 August 2011 0.20 2.28
30 August 2011 0.20 2.19
31 August 2011 0.20 2.23
1 September 2011 0.19 2.15
2 September 2011 0.20 2.02
5 September 2011 ND ND
6 September 2011 0.21 1.98
7 September 2011 0.21 2.05
8 September 2011 0.19 2.00
9 September 2011 0.17 1.93
12 September 2011 0.21 1.94
13 September 2011 0.21 2.00
14 September 2011 0.19 2.03
15 September 2011 0.21 2.09
16 September 2011 0.18 2.08
19 September 2011 0.16 1.97
20 September 2011 0.18 1.95
21 September 2011 0.21 1.88
22 September 2011 0.20 1.72
23 September 2011 0.23 1.84
26 September 2011 0.25 1.91
27 September 2011 0.25 2.00
28 September 2011 0.27 2.03
29 September 2011 0.27 1.99
30 September 2011 0.25 1.92
3 October 2011 0.24 1.80
4 October 2011 0.25 1.81
5 October 2011 0.25 1.92
6 October 2011 0.29 2.01
7 October 2011 0.30 2.10
10 October 2011 ND ND
11 October 2011 0.32 2.18
12 October 2011 0.29 2.24
13 October 2011 0.29 2.19
14 October 2011 0.28 2.26
17 October 2011 0.28 2.18
18 October 2011 0.28 2.19
19 October 2011 0.28 2.18
20 October 2011 0.28 2.20
21 October 2011 0.30 2.23
24 October 2011 0.30 2.25
25 October 2011 0.26 2.14
26 October 2011 0.28 2.23
27 October 2011 0.31 2.42
28 October 2011 0.28 2.34
31 October 2011 0.25 2.17
1 November 2011 0.23 2.01
2 November 2011 0.23 2.03
3 November 2011 0.24 2.09
4 November 2011 0.22 2.06
7 November 2011 0.25 2.04
8 November 2011 0.25 2.10
9 November 2011 0.24 2.00
10 November 2011 0.24 2.04
11 November 2011 ND ND
14 November 2011 0.24 2.04
15 November 2011 0.26 2.06
16 November 2011 0.26 2.01
17 November 2011 0.27 1.96
18 November 2011 0.29 2.01
21 November 2011 0.27 1.97
22 November 2011 0.26 1.94
23 November 2011 0.26 1.89
24 November 2011 ND ND
25 November 2011 0.28 1.97
28 November 2011 0.26 1.97
29 November 2011 0.27 2.00
30 November 2011 0.25 2.08
1 December 2011 0.27 2.11
2 December 2011 0.25 2.05
5 December 2011 0.27 2.04
6 December 2011 0.25 2.08
7 December 2011 0.24 2.02
8 December 2011 0.22 1.99
9 December 2011 0.22 2.07
12 December 2011 0.24 2.03
13 December 2011 0.24 1.96
14 December 2011 0.25 1.92
15 December 2011 0.26 1.92
16 December 2011 0.24 1.86
19 December 2011 0.24 1.82
20 December 2011 0.26 1.94
21 December 2011 0.28 1.98
22 December 2011 0.28 1.97
23 December 2011 0.28 2.03
26 December 2011 ND ND
27 December 2011 0.30 2.02
28 December 2011 0.28 1.93
29 December 2011 0.28 1.91
30 December 2011 0.25 1.89
2 January 2012 ND ND
3 January 2012 0.27 1.97
4 January 2012 0.25 2.00
5 January 2012 0.27 2.02
6 January 2012 0.25 1.98
9 January 2012 0.26 1.98
10 January 2012 0.24 2.00
11 January 2012 0.24 1.93
12 January 2012 0.22 1.94
13 January 2012 0.24 1.89
16 January 2012 ND ND
17 January 2012 0.21 1.87
18 January 2012 0.24 1.92
19 January 2012 0.26 2.01
20 January 2012 0.26 2.05
23 January 2012 0.26 2.09
24 January 2012 0.24 2.08
25 January 2012 0.22 2.01
26 January 2012 0.22 1.96
27 January 2012 0.22 1.93
30 January 2012 0.22 1.87
31 January 2012 0.22 1.83
1 February 2012 0.23 1.87
2 February 2012 0.23 1.86
3 February 2012 0.23 1.97
6 February 2012 0.24 1.93
7 February 2012 0.25 2.00
8 February 2012 0.27 2.01
9 February 2012 0.27 2.04
10 February 2012 0.27 1.96
13 February 2012 0.29 1.99
14 February 2012 0.29 1.92
15 February 2012 0.29 1.93
16 February 2012 0.29 1.99
17 February 2012 0.29 2.01
20 February 2012 ND ND
21 February 2012 0.31 2.05
22 February 2012 0.29 2.01
23 February 2012 0.31 1.99
24 February 2012 0.31 1.98
27 February 2012 0.30 1.92
28 February 2012 0.30 1.94
29 February 2012 0.30 1.98
1 March 2012 0.30 2.03
2 March 2012 0.28 1.99
5 March 2012 0.31 2.00
6 March 2012 0.30 1.96
7 March 2012 0.30 1.98
8 March 2012 0.32 2.03
9 March 2012 0.33 2.04
12 March 2012 0.33 2.04
13 March 2012 0.35 2.14
14 March 2012 0.40 2.29
15 March 2012 0.37 2.29
16 March 2012 0.37 2.31
19 March 2012 0.39 2.39
20 March 2012 0.41 2.38
21 March 2012 0.39 2.31
22 March 2012 0.37 2.29
23 March 2012 0.37 2.25
26 March 2012 0.36 2.26
27 March 2012 0.33 2.20
28 March 2012 0.34 2.21
29 March 2012 0.33 2.18
30 March 2012 0.33 2.23
2 April 2012 0.33 2.22
3 April 2012 0.36 2.30
4 April 2012 0.35 2.25
5 April 2012 0.35 2.19
6 April 2012 0.32 2.07
9 April 2012 0.32 2.06
10 April 2012 0.28 2.01
11 April 2012 0.30 2.05
12 April 2012 0.29 2.08
13 April 2012 0.27 2.02
16 April 2012 0.27 2.00
17 April 2012 0.27 2.03
18 April 2012 0.27 2.00
19 April 2012 0.27 1.98
20 April 2012 0.29 1.99
23 April 2012 0.27 1.96
24 April 2012 0.27 2.00
25 April 2012 0.26 2.01
26 April 2012 0.26 1.98
27 April 2012 0.26 1.96
30 April 2012 0.27 1.95
1 May 2012 0.27 1.98
2 May 2012 0.27 1.96
3 May 2012 0.28 1.96
4 May 2012 0.27 1.91
7 May 2012 0.27 1.92
8 May 2012 0.27 1.88
9 May 2012 0.27 1.87
10 May 2012 0.27 1.89
11 May 2012 0.27 1.84
14 May 2012 0.29 1.78
15 May 2012 0.29 1.76
16 May 2012 0.30 1.76
17 May 2012 0.32 1.70
18 May 2012 0.32 1.71
21 May 2012 0.30 1.75
22 May 2012 0.30 1.79
23 May 2012 0.28 1.73
24 May 2012 0.29 1.77
25 May 2012 0.30 1.75
28 May 2012 ND ND
29 May 2012 0.30 1.74
30 May 2012 0.27 1.63
31 May 2012 0.27 1.59
1 June 2012 0.25 1.47
4 June 2012 0.25 1.53
5 June 2012 0.25 1.57
6 June 2012 0.26 1.66
7 June 2012 0.27 1.66
8 June 2012 0.28 1.65
11 June 2012 0.27 1.60
12 June 2012 0.30 1.67
13 June 2012 0.30 1.61
14 June 2012 0.30 1.64
15 June 2012 0.29 1.60
18 June 2012 0.29 1.59
19 June 2012 0.30 1.64
20 June 2012 0.32 1.65
21 June 2012 0.32 1.63
22 June 2012 0.31 1.69
25 June 2012 0.31 1.63
26 June 2012 0.31 1.66
27 June 2012 0.31 1.65
28 June 2012 0.31 1.60
29 June 2012 0.33 1.67
2 July 2012 0.30 1.61
3 July 2012 0.30 1.65
4 July 2012 ND ND
5 July 2012 0.28 1.62
6 July 2012 0.27 1.57
9 July 2012 0.27 1.53
10 July 2012 0.27 1.53
11 July 2012 0.27 1.54
12 July 2012 0.25 1.50
13 July 2012 0.25 1.52
16 July 2012 0.24 1.50
17 July 2012 0.25 1.53
18 July 2012 0.22 1.52
19 July 2012 0.22 1.54
20 July 2012 0.22 1.49
23 July 2012 0.22 1.47
24 July 2012 0.22 1.44
25 July 2012 0.22 1.43
26 July 2012 0.23 1.45
27 July 2012 0.25 1.58
30 July 2012 0.23 1.53
31 July 2012 0.23 1.51
1 August 2012 0.24 1.56
2 August 2012 0.24 1.51
3 August 2012 0.24 1.60
6 August 2012 0.24 1.59
7 August 2012 0.27 1.66
8 August 2012 0.29 1.68
9 August 2012 0.29 1.69
10 August 2012 0.27 1.65
13 August 2012 0.27 1.65
14 August 2012 0.27 1.73
15 August 2012 0.27 1.80
16 August 2012 0.29 1.83
17 August 2012 0.29 1.81
20 August 2012 0.29 1.82
21 August 2012 0.31 1.80
22 August 2012 0.26 1.71
23 August 2012 0.26 1.68
24 August 2012 0.28 1.68
27 August 2012 0.28 1.65
28 August 2012 0.27 1.64
29 August 2012 0.27 1.66
30 August 2012 0.27 1.63
31 August 2012 0.22 1.57
3 September 2012 ND ND
4 September 2012 0.23 1.59
5 September 2012 0.25 1.60
6 September 2012 0.27 1.68
7 September 2012 0.25 1.67
10 September 2012 0.25 1.68
11 September 2012 0.25 1.70
12 September 2012 0.25 1.77
13 September 2012 0.24 1.75
14 September 2012 0.27 1.88
17 September 2012 0.25 1.85
18 September 2012 0.25 1.82
19 September 2012 0.27 1.79
20 September 2012 0.27 1.80
21 September 2012 0.27 1.77
24 September 2012 0.27 1.74
25 September 2012 0.27 1.70
26 September 2012 0.26 1.64
27 September 2012 0.25 1.66
28 September 2012 0.23 1.65
1 October 2012 0.25 1.64
2 October 2012 0.23 1.64
3 October 2012 0.23 1.64
4 October 2012 0.23 1.70
5 October 2012 0.27 1.75
8 October 2012 ND ND
9 October 2012 0.25 1.74
10 October 2012 0.27 1.72
11 October 2012 0.28 1.70
12 October 2012 0.27 1.69
15 October 2012 0.27 1.70
16 October 2012 0.27 1.75
17 October 2012 0.30 1.83
18 October 2012 0.29 1.86
19 October 2012 0.30 1.79
22 October 2012 0.32 1.83
23 October 2012 0.29 1.79
24 October 2012 0.29 1.80
25 October 2012 0.31 1.86
26 October 2012 0.30 1.78
29 October 2012 0.30 1.74
30 October 2012 ND ND
31 October 2012 0.30 1.72
1 November 2012 0.30 1.75
2 November 2012 0.28 1.75
5 November 2012 0.28 1.72
6 November 2012 0.30 1.78
7 November 2012 0.27 1.68
8 November 2012 0.27 1.62
9 November 2012 0.27 1.61
12 November 2012 ND ND
13 November 2012 0.27 1.59
14 November 2012 0.25 1.59
15 November 2012 0.24 1.58
16 November 2012 0.24 1.58
19 November 2012 0.25 1.61
20 November 2012 0.27 1.66
21 November 2012 0.27 1.69
22 November 2012 ND ND
23 November 2012 0.29 1.70
26 November 2012 0.27 1.66
27 November 2012 0.27 1.64
28 November 2012 0.27 1.63
29 November 2012 0.25 1.62
30 November 2012 0.25 1.62
3 December 2012 0.25 1.63
4 December 2012 0.25 1.62
5 December 2012 0.25 1.60
6 December 2012 0.25 1.59
7 December 2012 0.25 1.64
10 December 2012 0.24 1.63
11 December 2012 0.24 1.66
12 December 2012 0.25 1.72
13 December 2012 0.27 1.74
14 December 2012 0.24 1.72
17 December 2012 0.25 1.78
18 December 2012 0.28 1.84
19 December 2012 0.28 1.82
20 December 2012 0.28 1.81
21 December 2012 0.26 1.77
24 December 2012 0.26 1.79
25 December 2012 ND ND
26 December 2012 0.26 1.77
27 December 2012 0.26 1.74
28 December 2012 0.27 1.73
31 December 2012 0.25 1.78
1 January 2013 ND ND
2 January 2013 0.27 1.86
3 January 2013 0.27 1.92
4 January 2013 0.27 1.93
7 January 2013 0.27 1.92
8 January 2013 0.25 1.89
9 January 2013 0.24 1.88
10 January 2013 0.26 1.91
11 January 2013 0.26 1.89
14 January 2013 0.26 1.89
15 January 2013 0.26 1.86
16 January 2013 0.26 1.84
17 January 2013 0.28 1.89
18 January 2013 0.26 1.87
21 January 2013 ND ND
22 January 2013 0.26 1.86
23 January 2013 0.26 1.86
24 January 2013 0.23 1.88
25 January 2013 0.28 1.98
28 January 2013 0.29 2.00
29 January 2013 0.30 2.03
30 January 2013 0.27 2.03
31 January 2013 0.27 2.02
1 February 2013 0.27 2.04
4 February 2013 0.25 2.00
5 February 2013 0.27 2.04
6 February 2013 0.27 2.00
7 February 2013 0.25 1.99
8 February 2013 0.25 1.99
11 February 2013 0.27 1.99
12 February 2013 0.29 2.02
13 February 2013 0.29 2.05
14 February 2013 0.27 2.00
15 February 2013 0.29 2.01
18 February 2013 ND ND
19 February 2013 0.29 2.03
20 February 2013 0.27 2.02
21 February 2013 0.26 1.99
22 February 2013 0.27 1.97
25 February 2013 0.25 1.88
26 February 2013 0.25 1.88
27 February 2013 0.27 1.91
28 February 2013 0.25 1.89
1 March 2013 0.25 1.86
4 March 2013 0.24 1.88
5 March 2013 0.25 1.90
6 March 2013 0.25 1.95
7 March 2013 0.25 2.00
8 March 2013 0.27 2.06
11 March 2013 0.27 2.07
12 March 2013 0.27 2.03
13 March 2013 0.27 2.04
14 March 2013 0.27 2.04
15 March 2013 0.25 2.01
18 March 2013 0.26 1.96
19 March 2013 0.24 1.92
20 March 2013 0.26 1.96
21 March 2013 0.27 1.95
22 March 2013 0.26 1.93
25 March 2013 0.24 1.93
26 March 2013 0.25 1.92
27 March 2013 0.25 1.87
28 March 2013 0.25 1.87
29 March 2013 ND ND
1 April 2013 0.23 1.86
2 April 2013 0.25 1.88
3 April 2013 0.24 1.83
4 April 2013 0.22 1.78
5 April 2013 0.24 1.72
8 April 2013 0.24 1.76
9 April 2013 0.24 1.78
10 April 2013 0.24 1.84
11 April 2013 0.24 1.82
12 April 2013 0.22 1.75
15 April 2013 0.22 1.72
16 April 2013 0.24 1.75
17 April 2013 0.24 1.73
18 April 2013 0.24 1.72
19 April 2013 0.24 1.73
22 April 2013 0.24 1.72
23 April 2013 0.23 1.74
24 April 2013 0.23 1.73
25 April 2013 0.23 1.74
26 April 2013 0.22 1.70
29 April 2013 0.20 1.70
30 April 2013 0.22 1.70
1 May 2013 0.20 1.66
2 May 2013 0.20 1.66
3 May 2013 0.22 1.78
6 May 2013 0.22 1.80
7 May 2013 0.22 1.82
8 May 2013 0.22 1.81
9 May 2013 0.22 1.81
10 May 2013 0.26 1.90
13 May 2013 0.24 1.92
14 May 2013 0.26 1.96
15 May 2013 0.26 1.94
16 May 2013 0.23 1.87
17 May 2013 0.26 1.95
20 May 2013 0.26 1.97
21 May 2013 0.26 1.94
22 May 2013 0.26 2.03
23 May 2013 0.26 2.02
24 May 2013 0.26 2.01
27 May 2013 ND ND
28 May 2013 0.29 2.15
29 May 2013 0.30 2.13
30 May 2013 0.31 2.13
31 May 2013 0.30 2.16
3 June 2013 0.30 2.13
4 June 2013 0.32 2.14
5 June 2013 0.30 2.10
6 June 2013 0.30 2.08
7 June 2013 0.32 2.17
10 June 2013 0.32 2.22
11 June 2013 0.34 2.20
12 June 2013 0.34 2.25
13 June 2013 0.32 2.19
14 June 2013 0.29 2.14
17 June 2013 0.27 2.19
18 June 2013 0.27 2.20
19 June 2013 0.31 2.33
20 June 2013 0.33 2.41
21 June 2013 0.38 2.52
24 June 2013 0.42 2.57
25 June 2013 0.43 2.60
26 June 2013 0.39 2.55
27 June 2013 0.36 2.49
28 June 2013 0.36 2.52
1 July 2013 0.34 2.50
2 July 2013 0.34 2.48
3 July 2013 0.36 2.52
4 July 2013 ND ND
5 July 2013 0.40 2.73
8 July 2013 0.37 2.65
9 July 2013 0.37 2.65
10 July 2013 0.38 2.70
11 July 2013 0.34 2.60
12 July 2013 0.37 2.61
15 July 2013 0.34 2.57
16 July 2013 0.34 2.55
17 July 2013 0.32 2.52
18 July 2013 0.32 2.56
19 July 2013 0.32 2.50
22 July 2013 0.32 2.50
23 July 2013 0.33 2.53
24 July 2013 0.34 2.61
25 July 2013 0.32 2.61
26 July 2013 0.31 2.58
29 July 2013 0.33 2.61
30 July 2013 0.33 2.63
31 July 2013 0.31 2.60
1 August 2013 0.35 2.74
2 August 2013 0.30 2.63
5 August 2013 0.32 2.67
6 August 2013 0.32 2.67
7 August 2013 0.32 2.61
8 August 2013 0.30 2.58
9 August 2013 0.32 2.57
12 August 2013 0.32 2.61
13 August 2013 0.34 2.71
14 August 2013 0.34 2.71
15 August 2013 0.36 2.77
16 August 2013 0.36 2.84
19 August 2013 0.36 2.88
20 August 2013 0.36 2.82
21 August 2013 0.38 2.87
22 August 2013 0.42 2.90
23 August 2013 0.40 2.82
26 August 2013 0.41 2.79
27 August 2013 0.38 2.72
28 August 2013 0.40 2.78
29 August 2013 0.39 2.75
30 August 2013 0.39 2.78
2 September 2013 ND ND
3 September 2013 0.43 2.86
4 September 2013 0.46 2.90
5 September 2013 0.52 2.98
6 September 2013 0.46 2.94
9 September 2013 0.45 2.90
10 September 2013 0.50 2.96
11 September 2013 0.47 2.93
12 September 2013 0.45 2.92
13 September 2013 0.45 2.90
16 September 2013 0.41 2.88
17 September 2013 0.39 2.86
18 September 2013 0.34 2.69
19 September 2013 0.34 2.76
20 September 2013 0.34 2.75
23 September 2013 0.35 2.72
24 September 2013 0.35 2.67
25 September 2013 0.36 2.63
26 September 2013 0.34 2.66
27 September 2013 0.34 2.64
30 September 2013 0.33 2.64
1 October 2013 0.33 2.66
2 October 2013 0.31 2.63
3 October 2013 0.33 2.62
4 October 2013 0.33 2.66
7 October 2013 0.37 2.65
8 October 2013 0.40 2.66
9 October 2013 0.37 2.68
10 October 2013 0.35 2.71
11 October 2013 0.35 2.70
14 October 2013 ND ND
15 October 2013 0.37 2.75
16 October 2013 0.34 2.69
17 October 2013 0.33 2.61
18 October 2013 0.33 2.60
21 October 2013 0.33 2.63
22 October 2013 0.31 2.54
23 October 2013 0.31 2.51
24 October 2013 0.33 2.53
25 October 2013 0.32 2.53
28 October 2013 0.32 2.54
29 October 2013 0.31 2.53
30 October 2013 0.33 2.55
31 October 2013 0.31 2.57
1 November 2013 0.33 2.65
4 November 2013 0.32 2.63
5 November 2013 0.32 2.69
6 November 2013 0.30 2.67
7 November 2013 0.29 2.63
8 November 2013 0.32 2.77
11 November 2013 ND ND
12 November 2013 0.34 2.80
13 November 2013 0.32 2.75
14 November 2013 0.29 2.69
15 November 2013 0.31 2.71
18 November 2013 0.31 2.67
19 November 2013 0.29 2.71
20 November 2013 0.28 2.80
21 November 2013 0.29 2.79
22 November 2013 0.31 2.75
25 November 2013 0.30 2.74
26 November 2013 0.29 2.71
27 November 2013 0.28 2.74
28 November 2013 ND ND
29 November 2013 0.28 2.75
2 December 2013 0.30 2.81
3 December 2013 0.28 2.79
4 December 2013 0.30 2.84
5 December 2013 0.30 2.88
6 December 2013 0.30 2.88
9 December 2013 0.30 2.86
10 December 2013 0.30 2.81
11 December 2013 0.31 2.86
12 December 2013 0.34 2.89
13 December 2013 0.34 2.88
16 December 2013 0.34 2.89
17 December 2013 0.34 2.85
18 December 2013 0.32 2.89
19 December 2013 0.35 2.94
20 December 2013 0.37 2.89
23 December 2013 0.38 2.94
24 December 2013 0.38 2.99
25 December 2013 ND ND
26 December 2013 0.42 3.00
27 December 2013 0.40 3.02
30 December 2013 0.39 2.99
31 December 2013 0.38 3.04
1 January 2014 ND ND
2 January 2014 0.39 3.00
3 January 2014 0.41 3.01
6 January 2014 0.40 2.98
7 January 2014 0.40 2.96
8 January 2014 0.43 3.01
9 January 2014 0.44 2.97
10 January 2014 0.39 2.88
13 January 2014 0.39 2.84
14 January 2014 0.39 2.88
15 January 2014 0.41 2.90
16 January 2014 0.41 2.86
17 January 2014 0.40 2.84
20 January 2014 ND ND
21 January 2014 0.40 2.85
22 January 2014 0.44 2.87
23 January 2014 0.39 2.79
24 January 2014 0.37 2.75
27 January 2014 0.37 2.78
28 January 2014 0.38 2.77
29 January 2014 0.36 2.69
30 January 2014 0.36 2.72
31 January 2014 0.34 2.67
3 February 2014 0.30 2.61
4 February 2014 0.31 2.64
5 February 2014 0.32 2.70
6 February 2014 0.33 2.73
7 February 2014 0.30 2.71
10 February 2014 0.32 2.70
11 February 2014 0.35 2.75
12 February 2014 0.35 2.80
13 February 2014 0.32 2.73
14 February 2014 0.32 2.75
17 February 2014 ND ND
18 February 2014 0.31 2.71
19 February 2014 0.33 2.73
20 February 2014 0.34 2.76
21 February 2014 0.33 2.73
24 February 2014 0.35 2.75
25 February 2014 0.34 2.70
26 February 2014 0.33 2.67
27 February 2014 0.33 2.65
28 February 2014 0.33 2.66
3 March 2014 0.32 2.60
4 March 2014 0.33 2.70
5 March 2014 0.33 2.70
6 March 2014 0.37 2.74
7 March 2014 0.38 2.80
10 March 2014 0.37 2.79
11 March 2014 0.37 2.77
12 March 2014 0.37 2.73
13 March 2014 0.34 2.66
14 March 2014 0.36 2.65
17 March 2014 0.38 2.70
18 March 2014 0.36 2.68
19 March 2014 0.47 2.78
20 March 2014 0.45 2.79
21 March 2014 0.45 2.75
24 March 2014 0.47 2.74
25 March 2014 0.47 2.75
26 March 2014 0.45 2.71
27 March 2014 0.45 2.69
28 March 2014 0.45 2.73
31 March 2014 0.44 2.73
1 April 2014 0.44 2.77
2 April 2014 0.47 2.82
3 April 2014 0.46 2.80
4 April 2014 0.43 2.74
7 April 2014 0.41 2.71
8 April 2014 0.40 2.69
9 April 2014 0.37 2.71
10 April 2014 0.37 2.65
11 April 2014 0.37 2.63
14 April 2014 0.37 2.65
15 April 2014 0.39 2.64
16 April 2014 0.39 2.65
17 April 2014 0.43 2.73
18 April 2014 ND ND
21 April 2014 0.42 2.73
22 April 2014 0.45 2.73
23 April 2014 0.43 2.70
24 April 2014 0.43 2.70
25 April 2014 0.43 2.68
28 April 2014 0.44 2.70
29 April 2014 0.44 2.71
30 April 2014 0.42 2.67
1 May 2014 0.41 2.63
2 May 2014 0.42 2.60
5 May 2014 0.43 2.63
6 May 2014 0.43 2.61
7 May 2014 0.41 2.62
8 May 2014 0.40 2.61
9 May 2014 0.40 2.62
12 May 2014 0.41 2.66
13 May 2014 0.39 2.61
14 May 2014 0.39 2.54
15 May 2014 0.38 2.50
16 May 2014 0.38 2.52
19 May 2014 0.36 2.54
20 May 2014 0.35 2.52
21 May 2014 0.37 2.54
22 May 2014 0.37 2.56
23 May 2014 0.37 2.54
26 May 2014 ND ND
27 May 2014 0.39 2.52
28 May 2014 0.37 2.44
29 May 2014 0.37 2.45
30 May 2014 0.37 2.48
2 June 2014 0.39 2.54
3 June 2014 0.41 2.60
4 June 2014 0.41 2.61
5 June 2014 0.40 2.59
6 June 2014 0.41 2.60
9 June 2014 0.43 2.62
10 June 2014 0.45 2.64
11 June 2014 0.44 2.65
12 June 2014 0.42 2.58
13 June 2014 0.45 2.60
16 June 2014 0.49 2.61
17 June 2014 0.51 2.66
18 June 2014 0.48 2.61
19 June 2014 0.48 2.64
20 June 2014 0.50 2.63
23 June 2014 0.48 2.63
24 June 2014 0.49 2.59
25 June 2014 0.48 2.57
26 June 2014 0.46 2.53
27 June 2014 0.45 2.54
30 June 2014 0.47 2.53
1 July 2014 0.47 2.58
2 July 2014 0.49 2.64
3 July 2014 0.52 2.65
4 July 2014 ND ND
7 July 2014 0.52 2.63
8 July 2014 0.51 2.58
9 July 2014 0.51 2.57
10 July 2014 0.46 2.55
11 July 2014 0.48 2.53
14 July 2014 0.48 2.55
15 July 2014 0.49 2.56
16 July 2014 0.50 2.55
17 July 2014 0.47 2.47
18 July 2014 0.51 2.50
21 July 2014 0.51 2.49
22 July 2014 0.49 2.48
23 July 2014 0.50 2.48
24 July 2014 0.53 2.52
25 July 2014 0.53 2.48
28 July 2014 0.54 2.50
29 July 2014 0.54 2.47
30 July 2014 0.56 2.57
31 July 2014 0.53 2.58
1 August 2014 0.47 2.52
4 August 2014 0.47 2.51
5 August 2014 0.47 2.49
6 August 2014 0.48 2.49
7 August 2014 0.44 2.43
8 August 2014 0.45 2.44
11 August 2014 0.47 2.44
12 August 2014 0.45 2.46
13 August 2014 0.43 2.43
14 August 2014 0.42 2.40
15 August 2014 0.42 2.34
18 August 2014 0.44 2.39
19 August 2014 0.46 2.40
20 August 2014 0.49 2.43
21 August 2014 0.49 2.41
22 August 2014 0.53 2.40
25 August 2014 0.53 2.39
26 August 2014 0.52 2.39
27 August 2014 0.51 2.37
28 August 2014 0.50 2.34
29 August 2014 0.48 2.35
1 September 2014 ND ND
2 September 2014 0.53 2.42
3 September 2014 0.52 2.41
4 September 2014 0.54 2.45
5 September 2014 0.52 2.46
8 September 2014 0.54 2.48
9 September 2014 0.56 2.50
10 September 2014 0.58 2.54
11 September 2014 0.58 2.54
12 September 2014 0.58 2.62
15 September 2014 0.58 2.60
16 September 2014 0.55 2.60
17 September 2014 0.59 2.62
18 September 2014 0.59 2.63
19 September 2014 0.59 2.59
22 September 2014 0.58 2.57
23 September 2014 0.57 2.54
24 September 2014 0.59 2.57
25 September 2014 0.56 2.52
26 September 2014 0.59 2.54
29 September 2014 0.58 2.50
30 September 2014 0.58 2.52
1 October 2014 0.53 2.42
2 October 2014 0.53 2.44
3 October 2014 0.57 2.45
6 October 2014 0.54 2.43
7 October 2014 0.52 2.36
8 October 2014 0.46 2.35
9 October 2014 0.46 2.34
10 October 2014 0.45 2.31
13 October 2014 ND ND
14 October 2014 0.39 2.21
15 October 2014 0.34 2.15
16 October 2014 0.35 2.17
17 October 2014 0.39 2.22
20 October 2014 0.37 2.20
21 October 2014 0.38 2.23
22 October 2014 0.41 2.25
23 October 2014 0.41 2.29
24 October 2014 0.41 2.29
27 October 2014 0.41 2.27
28 October 2014 0.42 2.30
29 October 2014 0.48 2.34
30 October 2014 0.48 2.32
31 October 2014 0.50 2.35
3 November 2014 0.52 2.36
4 November 2014 0.52 2.35
5 November 2014 0.52 2.36
6 November 2014 0.54 2.39
7 November 2014 0.51 2.32
10 November 2014 0.55 2.38
11 November 2014 ND ND
12 November 2014 0.55 2.37
13 November 2014 0.53 2.35
14 November 2014 0.54 2.32
17 November 2014 0.54 2.34
18 November 2014 0.53 2.32
19 November 2014 0.54 2.36
20 November 2014 0.53 2.34
21 November 2014 0.53 2.31
24 November 2014 0.53 2.30
25 November 2014 0.51 2.27
26 November 2014 0.53 2.24
27 November 2014 ND ND
28 November 2014 0.47 2.18
1 December 2014 0.49 2.22
2 December 2014 0.55 2.28
3 December 2014 0.57 2.29
4 December 2014 0.55 2.25
5 December 2014 0.65 2.31
8 December 2014 0.64 2.26
9 December 2014 0.64 2.22
10 December 2014 0.59 2.18
11 December 2014 0.62 2.19
12 December 2014 0.56 2.10
15 December 2014 0.60 2.12
16 December 2014 0.58 2.07
17 December 2014 0.62 2.14
18 December 2014 0.67 2.22
19 December 2014 0.67 2.17
22 December 2014 0.71 2.17
23 December 2014 0.73 2.26
24 December 2014 0.73 2.27
25 December 2014 ND ND
26 December 2014 0.73 2.25
29 December 2014 0.72 2.22
30 December 2014 0.69 2.20
31 December 2014 0.67 2.17
1 January 2015 ND ND
2 January 2015 0.66 2.12
5 January 2015 0.68 2.04
6 January 2015 0.65 1.97
7 January 2015 0.62 1.96
8 January 2015 0.62 2.03
9 January 2015 0.59 1.98
12 January 2015 0.56 1.92
13 January 2015 0.54 1.91
14 January 2015 0.51 1.86
15 January 2015 0.44 1.77
16 January 2015 0.49 1.83
19 January 2015 ND ND
20 January 2015 0.53 1.82
21 January 2015 0.53 1.87
22 January 2015 0.53 1.90
23 January 2015 0.52 1.81
26 January 2015 0.54 1.83
27 January 2015 0.54 1.83
28 January 2015 0.50 1.73
29 January 2015 0.51 1.77
30 January 2015 0.47 1.68
2 February 2015 0.49 1.68
3 February 2015 0.52 1.79
4 February 2015 0.52 1.81
5 February 2015 0.52 1.83
6 February 2015 0.65 1.95
9 February 2015 0.65 1.96
10 February 2015 0.67 2.01
11 February 2015 0.67 2.00
12 February 2015 0.61 1.99
13 February 2015 0.66 2.02
16 February 2015 ND ND
17 February 2015 0.70 2.14
18 February 2015 0.62 2.07
19 February 2015 0.67 2.11
20 February 2015 0.67 2.13
23 February 2015 0.64 2.06
24 February 2015 0.60 1.99
25 February 2015 0.61 1.96
26 February 2015 0.66 2.03
27 February 2015 0.63 2.00
2 March 2015 0.66 2.08
3 March 2015 0.68 2.12
4 March 2015 0.66 2.12
5 March 2015 0.65 2.11
6 March 2015 0.73 2.24
9 March 2015 0.70 2.20
10 March 2015 0.70 2.14
11 March 2015 0.70 2.11
12 March 2015 0.67 2.10
13 March 2015 0.68 2.13
16 March 2015 0.66 2.10
17 March 2015 0.70 2.06
18 March 2015 0.57 1.93
19 March 2015 0.63 1.98
20 March 2015 0.60 1.93
23 March 2015 0.60 1.92
24 March 2015 0.58 1.88
25 March 2015 0.59 1.93
26 March 2015 0.61 2.01
27 March 2015 0.58 1.95
30 March 2015 0.58 1.96
31 March 2015 0.56 1.94
1 April 2015 0.55 1.87
2 April 2015 0.55 1.92
3 April 2015 0.49 1.85
6 April 2015 0.51 1.92
7 April 2015 0.52 1.89
8 April 2015 0.54 1.92
9 April 2015 0.56 1.97
10 April 2015 0.57 1.96
13 April 2015 0.54 1.94
14 April 2015 0.53 1.90
15 April 2015 0.51 1.91
16 April 2015 0.50 1.90
17 April 2015 0.51 1.87
20 April 2015 0.55 1.90
21 April 2015 0.55 1.92
22 April 2015 0.57 1.99
23 April 2015 0.55 1.96
24 April 2015 0.54 1.93
27 April 2015 0.54 1.94
28 April 2015 0.56 2.00
29 April 2015 0.56 2.06
30 April 2015 0.58 2.05
1 May 2015 0.60 2.12
4 May 2015 0.60 2.16
5 May 2015 0.62 2.19
6 May 2015 0.65 2.25
7 May 2015 0.63 2.18
8 May 2015 0.59 2.16
11 May 2015 0.62 2.28
12 May 2015 0.61 2.28
13 May 2015 0.59 2.27
14 May 2015 0.56 2.23
15 May 2015 0.55 2.14
18 May 2015 0.58 2.23
19 May 2015 0.63 2.27
20 May 2015 0.60 2.26
21 May 2015 0.60 2.19
22 May 2015 0.64 2.21
25 May 2015 ND ND
26 May 2015 0.64 2.14
27 May 2015 0.64 2.14
28 May 2015 0.62 2.13
29 May 2015 0.61 2.12
1 June 2015 0.64 2.19
2 June 2015 0.64 2.27
3 June 2015 0.69 2.38
4 June 2015 0.66 2.31
5 June 2015 0.73 2.41
8 June 2015 0.70 2.39
9 June 2015 0.72 2.42
10 June 2015 0.75 2.50
11 June 2015 0.73 2.39
12 June 2015 0.74 2.39
15 June 2015 0.72 2.36
16 June 2015 0.71 2.32
17 June 2015 0.67 2.32
18 June 2015 0.66 2.35
19 June 2015 0.65 2.26
22 June 2015 0.68 2.37
23 June 2015 0.70 2.42
24 June 2015 0.68 2.38
25 June 2015 0.68 2.40
26 June 2015 0.72 2.49
29 June 2015 0.64 2.33
30 June 2015 0.64 2.35
1 July 2015 0.69 2.43
2 July 2015 0.64 2.40
3 July 2015 ND ND
6 July 2015 0.60 2.30
7 July 2015 0.58 2.27
8 July 2015 0.55 2.22
9 July 2015 0.60 2.32
10 July 2015 0.65 2.42
13 July 2015 0.69 2.44
14 July 2015 0.66 2.41
15 July 2015 0.64 2.36
16 July 2015 0.67 2.36
17 July 2015 0.68 2.34
20 July 2015 0.71 2.38
21 July 2015 0.71 2.35
22 July 2015 0.75 2.33
23 July 2015 0.71 2.28
24 July 2015 0.70 2.27
27 July 2015 0.68 2.23
28 July 2015 0.69 2.26
29 July 2015 0.70 2.29
30 July 2015 0.72 2.28
31 July 2015 0.67 2.20
3 August 2015 0.68 2.16
4 August 2015 0.74 2.23
5 August 2015 0.73 2.28
6 August 2015 0.71 2.23
7 August 2015 0.73 2.18
10 August 2015 0.73 2.24
11 August 2015 0.68 2.15
12 August 2015 0.67 2.14
13 August 2015 0.72 2.19
14 August 2015 0.73 2.20
17 August 2015 0.72 2.16
18 August 2015 0.74 2.20
19 August 2015 0.67 2.12
20 August 2015 0.69 2.09
21 August 2015 0.64 2.05
24 August 2015 0.59 2.01
25 August 2015 0.67 2.12
26 August 2015 0.67 2.18
27 August 2015 0.68 2.18
28 August 2015 0.72 2.19
31 August 2015 0.74 2.21
1 September 2015 0.70 2.17
2 September 2015 0.72 2.20
3 September 2015 0.71 2.18
4 September 2015 0.71 2.13
7 September 2015 ND ND
8 September 2015 0.74 2.20
9 September 2015 0.75 2.21
10 September 2015 0.75 2.23
11 September 2015 0.71 2.20
14 September 2015 0.73 2.18
15 September 2015 0.82 2.28
16 September 2015 0.82 2.30
17 September 2015 0.70 2.21
18 September 2015 0.69 2.13
21 September 2015 0.72 2.20
22 September 2015 0.69 2.14
23 September 2015 0.70 2.16
24 September 2015 0.67 2.13
25 September 2015 0.70 2.17
28 September 2015 0.67 2.10
29 September 2015 0.64 2.05
30 September 2015 0.64 2.06
1 October 2015 0.64 2.05
2 October 2015 0.58 1.99
5 October 2015 0.61 2.07
6 October 2015 0.61 2.05
7 October 2015 0.65 2.08
8 October 2015 0.65 2.12
9 October 2015 0.65 2.12
12 October 2015 ND ND
13 October 2015 0.64 2.06
14 October 2015 0.57 1.99
15 October 2015 0.61 2.04
16 October 2015 0.61 2.04
19 October 2015 0.61 2.04
20 October 2015 0.66 2.08
21 October 2015 0.64 2.04
22 October 2015 0.61 2.04
23 October 2015 0.66 2.09
26 October 2015 0.66 2.07
27 October 2015 0.65 2.05
28 October 2015 0.73 2.10
29 October 2015 0.75 2.19
30 October 2015 0.75 2.16
2 November 2015 0.77 2.20
3 November 2015 0.80 2.23
4 November 2015 0.84 2.25
5 November 2015 0.85 2.26
6 November 2015 0.90 2.34
9 November 2015 0.89 2.36
10 November 2015 0.87 2.32
11 November 2015 ND ND
12 November 2015 0.89 2.32
13 November 2015 0.86 2.28
16 November 2015 0.88 2.27
17 November 2015 0.86 2.25
18 November 2015 0.90 2.27
19 November 2015 0.91 2.24
20 November 2015 0.93 2.26
23 November 2015 0.94 2.25
24 November 2015 0.93 2.24
25 November 2015 0.93 2.23
26 November 2015 ND ND
27 November 2015 0.92 2.22
30 November 2015 0.94 2.21
1 December 2015 0.91 2.15
2 December 2015 0.94 2.18
3 December 2015 0.96 2.33
4 December 2015 0.96 2.28
7 December 2015 0.94 2.23
8 December 2015 0.94 2.24
9 December 2015 0.93 2.22
10 December 2015 0.95 2.24
11 December 2015 0.88 2.13
14 December 2015 0.97 2.23
15 December 2015 0.98 2.28
16 December 2015 1.02 2.30
17 December 2015 1.00 2.24
18 December 2015 0.97 2.19
21 December 2015 0.96 2.20
22 December 2015 0.99 2.24
23 December 2015 1.01 2.27
24 December 2015 1.03 2.25
25 December 2015 ND ND
28 December 2015 1.05 2.24
29 December 2015 1.09 2.32
30 December 2015 1.08 2.31
31 December 2015 1.06 2.27
1 January 2016 ND ND
4 January 2016 1.02 2.24
5 January 2016 1.04 2.25
6 January 2016 0.99 2.18
7 January 2016 0.96 2.16
8 January 2016 0.94 2.13
11 January 2016 0.94 2.17
12 January 2016 0.93 2.12
13 January 2016 0.91 2.08
14 January 2016 0.90 2.10
15 January 2016 0.85 2.03
18 January 2016 ND ND
19 January 2016 0.88 2.06
20 January 2016 0.85 2.01
21 January 2016 0.84 2.02
22 January 2016 0.88 2.07
25 January 2016 0.88 2.03
26 January 2016 0.85 2.01
27 January 2016 0.84 2.02
28 January 2016 0.83 2.00
29 January 2016 0.76 1.94
1 February 2016 0.81 1.97
2 February 2016 0.75 1.87
3 February 2016 0.72 1.88
4 February 2016 0.70 1.87

Note: The 2-year and 10-year Treasury rates are the constant-maturity yields based on the most actively traded securities.

Source: Department of the Treasury.

Return to text



Figure 19. Federal Reserve assets and liabilities

Assets
Weekly
Values for each component are in billions of dollars; charted totals are in trillions of dollars

Period Treasury securities
held outright		 Agency debt and
mortgage-backed
securities holdings		 Credit and
liquidity facilities		 Other assets Sum
2 January 2008 740.63 0.00 68.92 112.64 922.19
9 January 2008 728.20 0.00 65.02 87.54 880.75
16 January 2008 728.26 0.00 69.57 95.76 893.58
23 January 2008 723.31 0.00 74.02 79.92 877.25
30 January 2008 718.37 0.00 74.05 107.85 900.26
6 February 2008 713.38 0.00 84.46 73.19 871.02
13 February 2008 713.37 0.00 84.04 85.60 883.00
20 February 2008 713.36 0.00 71.37 94.22 878.95
27 February 2008 713.36 0.00 70.69 109.78 893.83
5 March 2008 713.39 0.00 60.04 107.78 881.21
12 March 2008 703.44 0.00 60.03 133.10 896.56
19 March 2008 660.48 0.00 108.93 119.24 888.65
26 March 2008 612.31 0.00 117.61 164.05 893.97
2 April 2008 581.24 0.00 165.80 136.67 883.71
9 April 2008 560.11 0.00 154.84 178.08 893.03
16 April 2008 548.63 0.00 170.51 162.76 881.90
23 April 2008 548.66 0.00 168.04 169.08 885.78
30 April 2008 548.69 0.00 165.76 173.68 888.13
7 May 2008 536.71 0.00 163.79 188.72 889.23
14 May 2008 515.66 0.00 204.90 159.61 880.18
21 May 2008 502.86 0.00 205.87 189.75 898.49
28 May 2008 491.09 0.00 241.22 171.74 904.05
4 June 2008 486.94 0.00 232.79 176.21 895.94
11 June 2008 482.07 0.00 234.04 174.50 890.61
18 June 2008 478.73 0.00 233.89 189.68 902.30
25 June 2008 478.80 0.00 227.40 186.51 892.71
2 July 2008 478.87 0.00 253.81 170.28 902.96
9 July 2008 478.95 0.00 254.28 164.81 898.03
16 July 2008 479.04 0.00 257.21 174.43 910.68
23 July 2008 479.12 0.00 258.89 161.66 899.66
30 July 2008 479.21 0.00 258.48 180.94 918.63
6 August 2008 479.33 0.00 258.64 163.74 901.71
13 August 2008 479.43 0.00 258.83 176.37 914.63
20 August 2008 479.54 0.00 264.77 154.30 898.61
27 August 2008 479.64 0.00 265.25 165.09 909.98
3 September 2008 479.73 0.00 260.38 165.15 905.25
10 September 2008 479.78 0.00 264.88 181.06 925.72
17 September 2008 479.84 0.00 362.66 152.59 995.09
24 September 2008 476.58 10.00 583.65 141.60 1211.83
1 October 2008 476.62 14.50 874.40 138.47 1503.99
8 October 2008 476.58 14.11 944.54 156.37 1591.59
15 October 2008 476.55 14.11 1140.87 139.28 1770.81
22 October 2008 476.51 14.11 1175.21 136.78 1802.60
29 October 2008 476.47 13.62 1341.64 137.35 1969.09
5 November 2008 476.46 13.24 1446.42 138.10 2074.21
12 November 2008 476.44 12.97 1585.33 138.11 2212.85
19 November 2008 476.43 12.50 1563.89 134.32 2187.14
26 November 2008 476.41 12.22 1483.21 134.28 2106.12
3 December 2008 476.35 11.57 1514.22 134.77 2136.92
10 December 2008 476.25 15.81 1622.55 135.40 2250.01
17 December 2008 476.14 17.62 1623.08 138.15 2254.98
24 December 2008 476.01 20.88 1596.47 138.95 2232.31
31 December 2008 475.92 19.71 1605.85 137.98 2239.46
7 January 2009 475.72 19.26 1508.61 117.85 2121.44
14 January 2009 475.51 29.79 1445.63 98.78 2049.71
21 January 2009 475.32 30.15 1452.64 79.01 2037.11
28 January 2009 475.13 35.74 1356.38 59.84 1927.08
4 February 2009 474.98 37.29 1280.36 58.80 1851.44
11 February 2009 474.87 39.53 1269.91 59.09 1843.40
18 February 2009 474.76 98.87 1283.96 57.97 1915.56
25 February 2009 474.64 107.08 1276.22 58.17 1916.12
4 March 2009 474.62 107.14 1262.55 57.00 1901.32
11 March 2009 474.66 113.39 1253.34 58.13 1899.51
18 March 2009 474.70 284.76 1245.94 61.54 2066.94
25 March 2009 474.75 286.55 1246.29 63.97 2071.56
1 April 2009 492.33 290.25 1231.40 64.96 2078.94
8 April 2009 508.41 292.94 1219.10 68.12 2088.57
15 April 2009 526.10 417.08 1171.06 72.26 2186.50
22 April 2009 534.97 432.10 1156.24 73.50 2196.81
29 April 2009 549.05 434.31 1008.69 74.66 2066.71
6 May 2009 560.60 437.29 1004.43 77.44 2079.76
13 May 2009 577.09 504.50 1033.08 81.68 2196.35
20 May 2009 583.27 508.15 1009.59 80.62 2181.63
27 May 2009 600.14 507.30 889.50 83.17 2080.12
3 June 2009 606.17 509.60 877.70 84.23 2077.70
10 June 2009 628.69 513.79 825.07 84.76 2052.30
17 June 2009 638.67 545.73 802.15 85.98 2072.53
24 June 2009 653.19 563.85 720.93 87.59 2025.57
1 July 2009 663.47 560.27 693.31 88.57 2005.63
8 July 2009 673.50 560.28 668.70 90.26 1992.74
15 July 2009 684.03 628.12 670.22 90.08 2072.45
22 July 2009 692.73 648.15 606.85 91.28 2039.00
29 July 2009 695.76 648.80 564.70 91.29 2000.55
5 August 2009 705.33 650.95 539.17 93.75 1989.20
12 August 2009 728.97 652.89 537.71 95.33 2014.90
19 August 2009 736.09 721.32 511.95 91.28 2060.64
26 August 2009 744.88 740.26 497.98 91.79 2074.90
2 September 2009 752.84 744.59 493.58 92.71 2083.72
9 September 2009 757.77 748.39 487.07 94.71 2087.95
16 September 2009 759.80 810.21 473.31 96.45 2139.78
23 September 2009 765.63 822.80 468.97 101.23 2158.63
30 September 2009 769.16 823.54 448.07 100.25 2141.02
7 October 2009 769.19 826.10 441.40 101.40 2138.09
14 October 2009 773.46 899.37 411.98 107.97 2192.79
21 October 2009 773.49 916.71 405.07 105.85 2201.12
28 October 2009 774.56 915.67 365.83 105.48 2161.54
4 November 2009 776.51 921.35 361.14 106.06 2165.07
11 November 2009 776.52 925.25 325.62 107.65 2135.04
18 November 2009 776.53 1000.09 326.61 105.50 2208.72
25 November 2009 776.54 1007.19 316.88 105.76 2206.36
2 December 2009 776.54 1007.24 314.46 105.83 2204.07
9 December 2009 776.55 1010.46 290.61 108.76 2186.38
16 December 2009 776.56 1058.92 290.62 109.66 2235.76
23 December 2009 776.58 1070.31 278.34 110.58 2235.80
30 December 2009 776.59 1068.14 280.28 109.06 2234.07
6 January 2010 776.60 1068.62 280.65 109.45 2235.30
13 January 2010 776.60 1129.42 271.62 114.06 2291.70
20 January 2010 776.61 1133.10 229.88 112.21 2251.81
27 January 2010 776.62 1133.40 225.46 111.41 2246.89
3 February 2010 776.61 1134.99 225.91 111.80 2249.32
10 February 2010 776.59 1141.81 224.52 113.75 2256.68
17 February 2010 776.57 1191.13 201.45 108.43 2277.57
24 February 2010 776.55 1199.09 199.77 110.72 2286.13
3 March 2010 776.55 1194.34 199.90 109.35 2280.15
10 March 2010 776.59 1198.18 197.17 110.53 2282.47
17 March 2010 776.63 1233.93 186.52 110.92 2308.00
24 March 2010 776.67 1241.29 183.75 111.45 2313.15
31 March 2010 776.70 1237.69 182.65 110.11 2307.15
7 April 2010 776.71 1237.72 181.86 111.28 2307.58
14 April 2010 776.71 1270.78 177.70 114.16 2339.35
21 April 2010 776.71 1270.83 176.92 113.09 2337.56
28 April 2010 776.72 1265.32 176.99 111.44 2330.47
5 May 2010 776.75 1265.53 171.60 112.29 2326.16
12 May 2010 776.79 1266.47 179.16 113.68 2336.10
19 May 2010 776.83 1287.06 178.45 108.54 2350.89
26 May 2010 776.88 1280.29 169.69 107.19 2334.04
2 June 2010 776.91 1280.33 171.25 107.72 2336.22
9 June 2010 776.93 1280.39 165.18 109.03 2331.53
16 June 2010 776.95 1293.80 164.31 109.25 2344.32
23 June 2010 776.97 1294.27 162.86 110.39 2344.50
30 June 2010 776.99 1282.89 162.78 108.19 2330.85
7 July 2010 777.00 1283.05 161.41 110.56 2332.02
14 July 2010 777.00 1290.67 161.13 111.91 2340.72
21 July 2010 777.01 1283.97 160.18 111.16 2332.32
28 July 2010 777.02 1276.86 160.82 110.60 2325.30
4 August 2010 777.02 1277.12 160.49 111.85 2326.48
11 August 2010 777.01 1278.84 158.47 113.21 2327.53
18 August 2010 779.55 1270.23 156.90 106.98 2313.66
25 August 2010 784.50 1259.67 151.08 105.77 2301.02
1 September 2010 786.28 1259.67 148.80 107.24 2302.00
8 September 2010 789.89 1259.67 147.19 109.05 2305.80
15 September 2010 794.65 1246.75 146.24 108.44 2296.08
22 September 2010 805.11 1245.98 144.95 111.13 2307.17
29 September 2010 811.67 1232.64 143.55 110.83 2298.69
6 October 2010 819.07 1232.64 143.17 113.21 2308.09
13 October 2010 821.16 1230.72 143.08 114.92 2309.88
20 October 2010 832.12 1216.49 141.92 114.70 2305.23
27 October 2010 837.85 1200.72 142.78 114.05 2295.39
3 November 2010 842.01 1200.72 142.49 115.13 2300.35
10 November 2010 853.04 1200.72 141.54 117.47 2312.77
17 November 2010 873.62 1187.27 140.90 112.97 2314.76
24 November 2010 901.24 1185.98 140.63 118.15 2346.00
1 December 2010 917.45 1170.83 140.90 117.73 2346.92
8 December 2010 949.61 1170.83 139.56 122.29 2382.29
15 December 2010 967.55 1156.73 138.70 122.78 2385.75
22 December 2010 1007.24 1155.86 138.11 126.72 2427.92
29 December 2010 1016.10 1139.60 138.19 126.67 2420.57
5 January 2011 1030.98 1139.60 137.89 127.59 2436.06
12 January 2011 1062.06 1138.47 137.31 130.29 2468.13
19 January 2011 1079.58 1126.04 89.20 130.35 2425.16
26 January 2011 1114.45 1109.70 88.89 130.49 2443.53
2 February 2011 1138.17 1109.70 88.83 132.73 2469.42
9 February 2011 1167.09 1109.70 88.50 135.19 2500.48
16 February 2011 1190.34 1102.81 87.72 127.99 2508.87
23 February 2011 1213.43 1102.32 86.70 130.78 2533.22
2 March 2011 1236.26 1092.18 85.94 130.74 2545.12
9 March 2011 1266.07 1092.18 85.83 133.00 2577.08
16 March 2011 1280.39 1084.10 85.02 133.55 2583.05
23 March 2011 1305.24 1076.34 84.64 135.12 2601.34
30 March 2011 1333.44 1069.65 84.43 135.00 2622.52
6 April 2011 1358.21 1069.65 83.65 137.17 2648.68
13 April 2011 1374.69 1068.04 83.08 139.59 2665.41
20 April 2011 1402.49 1061.68 81.56 140.04 2685.78
27 April 2011 1413.47 1053.21 83.40 140.91 2690.98
4 May 2011 1441.86 1052.14 81.39 143.37 2718.76
11 May 2011 1466.21 1052.14 80.58 145.56 2744.50
18 May 2011 1495.17 1044.34 79.49 139.02 2758.01
25 May 2011 1519.33 1036.95 78.88 139.84 2775.00
1 June 2011 1532.24 1036.95 78.40 141.14 2788.72
8 June 2011 1554.66 1036.95 75.72 143.88 2811.21
15 June 2011 1575.94 1032.87 74.48 144.26 2827.55
22 June 2011 1601.96 1032.69 74.34 147.41 2856.40
29 June 2011 1617.06 1025.56 74.23 148.40 2865.25
6 July 2011 1624.51 1023.92 72.95 148.72 2870.10
13 July 2011 1630.41 1023.92 72.99 150.75 2878.07
20 July 2011 1634.09 1018.22 69.01 149.98 2871.30
27 July 2011 1638.16 1009.72 65.23 150.46 2863.58
3 August 2011 1640.92 1009.72 65.13 151.45 2867.21
10 August 2011 1644.74 1009.72 65.19 152.77 2872.42
17 August 2011 1647.63 1003.23 62.43 144.62 2857.91
24 August 2011 1648.44 1002.13 62.57 146.30 2859.43
31 August 2011 1652.11 994.72 62.15 144.91 2853.89
7 September 2011 1655.60 994.72 62.06 146.28 2858.66
14 September 2011 1658.96 994.72 62.10 147.76 2863.54
21 September 2011 1663.10 987.51 59.41 147.72 2857.75
28 September 2011 1664.65 979.15 59.42 147.69 2850.92
5 October 2011 1671.78 979.15 59.25 149.51 2859.70
12 October 2011 1668.77 979.15 59.32 153.58 2860.82
19 October 2011 1670.26 969.74 57.69 154.70 2852.39
26 October 2011 1678.01 956.93 54.07 156.68 2845.68
2 November 2011 1654.19 956.93 53.82 157.09 2822.03
9 November 2011 1668.11 956.93 53.83 160.92 2839.79
16 November 2011 1675.84 949.48 51.42 154.84 2831.58
23 November 2011 1664.80 947.51 50.86 158.81 2821.98
30 November 2011 1672.04 932.96 50.88 158.36 2814.23
7 December 2011 1675.03 932.96 50.52 162.18 2820.69
14 December 2011 1673.47 963.99 98.89 166.13 2902.49
21 December 2011 1684.25 956.42 107.14 168.28 2916.09
28 December 2011 1672.09 941.29 143.96 168.75 2926.09
4 January 2012 1663.44 941.73 143.78 168.74 2917.69
11 January 2012 1650.84 942.68 135.16 170.48 2899.15
18 January 2012 1651.51 948.93 146.46 172.52 2919.42
25 January 2012 1661.53 937.12 146.34 174.55 2919.55
1 February 2012 1662.46 937.51 147.62 177.36 2924.95
8 February 2012 1660.69 937.53 149.27 180.79 2928.27
15 February 2012 1667.07 949.30 148.68 172.83 2937.89
22 February 2012 1656.58 953.86 147.24 175.13 2932.81
29 February 2012 1661.60 941.61 147.52 174.99 2925.72
7 March 2012 1659.28 940.60 107.45 177.42 2884.75
14 March 2012 1659.77 953.69 99.51 180.59 2893.56
21 March 2012 1663.48 950.25 96.61 182.30 2892.65
28 March 2012 1664.91 933.26 95.85 184.11 2878.14
4 April 2012 1669.37 933.27 77.35 185.49 2865.48
11 April 2012 1681.09 933.27 63.40 189.44 2867.20
18 April 2012 1672.14 950.56 61.51 191.26 2875.47
25 April 2012 1667.77 942.37 63.38 193.05 2866.56
2 May 2012 1667.63 942.39 59.30 194.96 2864.28
9 May 2012 1665.94 942.40 58.49 197.33 2864.15
16 May 2012 1656.79 952.39 52.67 189.12 2850.98
23 May 2012 1656.82 958.24 52.14 192.29 2859.50
30 May 2012 1656.67 945.00 47.67 193.31 2842.65
6 June 2012 1664.29 945.01 47.78 194.94 2852.02
13 June 2012 1660.16 961.19 48.91 198.82 2869.07
20 June 2012 1663.58 959.52 45.23 202.51 2870.85
27 June 2012 1666.53 946.46 47.79 202.76 2863.55
4 July 2012 1666.37 946.51 48.78 204.19 2865.86
11 July 2012 1662.64 946.54 50.57 206.53 2866.28
18 July 2012 1648.69 954.04 44.17 208.89 2855.81
25 July 2012 1651.43 944.39 41.07 209.86 2846.76
1 August 2012 1649.29 944.51 45.05 212.27 2851.12
8 August 2012 1652.42 944.52 44.06 215.18 2856.18
15 August 2012 1646.36 943.26 37.85 205.85 2833.32
22 August 2012 1637.15 946.52 33.67 208.32 2825.66
29 August 2012 1639.41 930.81 32.51 210.08 2812.81
5 September 2012 1648.86 930.92 30.35 212.04 2822.17
12 September 2012 1650.85 930.94 25.73 215.93 2823.45
19 September 2012 1646.10 937.24 20.80 217.43 2821.57
26 September 2012 1648.40 918.38 19.08 218.59 2804.46
3 October 2012 1652.94 918.40 16.79 220.38 2808.51
10 October 2012 1653.74 917.75 17.18 222.96 2811.62
17 October 2012 1659.08 945.05 16.84 225.94 2846.92
24 October 2012 1646.52 950.82 15.99 227.64 2840.96
31 October 2012 1645.33 933.94 16.67 227.19 2823.14
7 November 2012 1651.29 933.96 16.14 229.40 2830.79
14 November 2012 1656.83 970.92 15.65 233.84 2877.24
21 November 2012 1650.49 979.87 15.61 225.20 2871.16
28 November 2012 1646.65 962.82 15.60 226.29 2851.36
5 December 2012 1653.59 962.93 15.51 227.77 2859.81
12 December 2012 1660.81 1008.08 15.57 232.80 2917.26
19 December 2012 1658.85 1012.67 14.78 233.92 2920.23
26 December 2012 1656.93 1003.34 11.85 235.18 2907.30
2 January 2013 1666.12 1003.47 11.83 235.77 2917.19
9 January 2013 1676.31 1003.07 11.90 237.44 2928.73
16 January 2013 1688.89 1022.72 11.00 241.21 2963.81
23 January 2013 1696.69 1058.29 10.99 245.73 3011.70
30 January 2013 1710.06 1040.89 10.95 246.80 3008.70
6 February 2013 1717.18 1040.99 7.70 249.10 3014.98
13 February 2013 1728.48 1084.28 7.63 253.84 3074.23
20 February 2013 1736.46 1107.32 7.63 243.74 3095.15
27 February 2013 1749.54 1089.50 6.58 244.97 3090.60
6 March 2013 1761.76 1089.53 10.62 246.89 3108.81
13 March 2013 1769.99 1134.46 10.27 250.68 3165.40
20 March 2013 1784.65 1157.93 10.24 254.06 3206.89
27 March 2013 1794.46 1143.35 10.54 253.90 3202.26
3 April 2013 1805.64 1143.40 10.34 256.06 3215.43
10 April 2013 1814.48 1143.14 11.07 259.07 3227.76
17 April 2013 1825.04 1198.17 9.84 262.05 3295.11
24 April 2013 1836.23 1208.06 9.87 264.49 3318.65
1 May 2013 1847.98 1193.59 10.90 264.72 3317.19
8 May 2013 1854.33 1193.60 9.60 267.08 3324.62
15 May 2013 1864.51 1222.55 9.60 257.61 3354.27
22 May 2013 1877.15 1250.84 9.57 261.15 3398.71
29 May 2013 1883.56 1235.82 4.09 261.66 3385.13
5 June 2013 1898.01 1235.88 4.00 262.30 3400.18
12 June 2013 1906.08 1235.90 3.94 264.92 3410.84
19 June 2013 1918.71 1279.64 3.92 268.26 3470.53
26 June 2013 1928.42 1278.77 3.65 267.83 3478.67
3 July 2013 1942.68 1277.32 3.82 268.92 3492.74
10 July 2013 1952.53 1277.33 3.62 270.62 3504.10
17 July 2013 1961.67 1301.06 3.61 271.52 3537.86
24 July 2013 1970.00 1327.45 3.59 273.53 3574.57
31 July 2013 1982.41 1313.49 3.64 272.26 3571.80
7 August 2013 1993.37 1313.49 3.57 274.93 3585.36
14 August 2013 2001.09 1365.54 3.61 276.08 3646.32
21 August 2013 2012.17 1368.90 2.37 262.23 3645.67
28 August 2013 2023.61 1357.05 2.38 261.41 3644.46
4 September 2013 2033.29 1357.11 2.37 261.42 3654.18
11 September 2013 2041.09 1355.69 2.29 262.96 3662.03
18 September 2013 2052.05 1403.42 2.26 264.46 3722.19
25 September 2013 2062.00 1405.66 2.22 264.14 3734.02
2 October 2013 2076.93 1402.79 2.46 265.22 3747.39
9 October 2013 2086.74 1402.81 2.12 266.99 3758.66
16 October 2013 2095.03 1447.91 2.21 268.44 3813.60
23 October 2013 2106.47 1459.75 2.20 270.61 3839.03
30 October 2013 2117.75 1452.77 2.19 270.68 3843.40
6 November 2013 2125.55 1452.77 2.16 271.13 3851.62
13 November 2013 2137.04 1493.63 2.16 274.59 3907.42
20 November 2013 2150.96 1492.26 2.15 261.25 3906.62
27 November 2013 2163.67 1498.23 2.16 261.83 3925.88
4 December 2013 2169.79 1498.24 2.15 262.45 3932.63
11 December 2013 2185.72 1540.19 2.16 265.89 3993.95
18 December 2013 2197.29 1542.63 2.17 265.98 4008.06
25 December 2013 2208.83 1554.16 2.20 267.38 4032.58
1 January 2014 2208.78 1547.38 2.18 265.30 4023.64
8 January 2014 2212.92 1545.82 2.11 267.32 4028.18
15 January 2014 2220.95 1580.12 2.11 268.35 4071.53
22 January 2014 2231.43 1594.38 2.12 269.99 4097.91
29 January 2014 2243.18 1587.13 2.16 269.67 4102.14
5 February 2014 2252.97 1583.64 2.23 270.44 4109.28
12 February 2014 2261.10 1583.65 2.23 272.49 4119.47
19 February 2014 2267.87 1620.10 2.23 259.02 4149.22
26 February 2014 2278.26 1621.48 2.23 258.01 4159.97
5 March 2014 2288.45 1621.53 2.33 259.45 4171.76
12 March 2014 2295.94 1621.54 2.34 261.55 4181.36
19 March 2014 2305.79 1650.33 2.36 263.60 4222.08
26 March 2014 2311.54 1650.45 2.34 262.65 4226.97
2 April 2014 2320.65 1650.45 2.28 263.06 4236.44
9 April 2014 2326.09 1650.45 2.27 265.38 4244.19
16 April 2014 2335.99 1679.22 2.27 266.48 4283.97
23 April 2014 2341.77 1684.10 2.28 268.20 4296.34
30 April 2014 2350.27 1676.84 2.25 266.68 4296.05
7 May 2014 2354.92 1676.84 2.29 269.10 4303.14
14 May 2014 2361.33 1700.99 2.26 272.07 4336.65
21 May 2014 2367.24 1699.90 2.28 258.15 4327.56
28 May 2014 2370.72 1692.06 2.14 257.72 4322.65
4 June 2014 2378.19 1692.06 2.17 258.50 4330.92
11 June 2014 2385.80 1692.08 2.19 260.83 4340.90
18 June 2014 2391.48 1712.04 2.17 262.47 4368.17
25 June 2014 2396.97 1707.56 2.23 261.59 4368.35
2 July 2014 2404.58 1707.56 2.15 262.75 4377.03
9 July 2014 2408.51 1707.56 2.13 265.21 4383.40
16 July 2014 2410.34 1719.63 2.17 266.07 4398.20
23 July 2014 2413.62 1726.91 2.13 268.08 4410.75
30 July 2014 2420.29 1716.49 2.14 267.73 4406.64
6 August 2014 2422.57 1716.49 2.14 268.92 4410.11
13 August 2014 2427.65 1730.13 2.15 272.00 4431.92
20 August 2014 2431.40 1723.46 2.16 255.90 4412.92
27 August 2014 2435.93 1719.87 2.21 255.72 4413.74
3 September 2014 2436.99 1719.88 2.23 256.49 4415.59
10 September 2014 2440.64 1719.88 2.22 258.66 4421.41
17 September 2014 2446.57 1740.50 2.10 260.41 4449.59
24 September 2014 2448.63 1746.29 2.06 262.08 4459.05
1 October 2014 2451.74 1736.43 2.18 259.92 4450.26
8 October 2014 2454.46 1736.43 1.92 262.60 4455.40
15 October 2014 2455.35 1753.18 1.93 263.90 4474.36
22 October 2014 2459.20 1755.14 1.93 265.34 4481.62
29 October 2014 2461.58 1757.59 1.91 265.68 4486.75
5 November 2014 2461.58 1757.60 1.85 265.56 4486.58
12 November 2014 2461.60 1757.60 1.81 267.89 4488.90
19 November 2014 2461.62 1774.59 1.81 254.74 4492.76
26 November 2014 2461.64 1768.47 1.79 254.03 4485.93
3 December 2014 2461.63 1768.48 1.78 254.30 4486.19
10 December 2014 2461.56 1768.49 1.80 257.01 4488.87
17 December 2014 2461.49 1780.63 1.77 258.35 4502.25
24 December 2014 2461.42 1786.05 1.83 260.16 4509.46
31 December 2014 2461.36 1775.51 3.35 257.44 4497.66
7 January 2015 2461.22 1775.52 3.23 259.56 4499.52
14 January 2015 2461.08 1790.41 1.71 262.87 4516.08
21 January 2015 2460.94 1788.12 1.85 262.03 4512.94
28 January 2015 2460.80 1776.26 1.72 261.28 4500.06
4 February 2015 2460.65 1776.27 1.70 261.73 4500.35
11 February 2015 2460.49 1775.57 1.70 263.92 4501.69
18 February 2015 2460.33 1785.90 1.69 248.93 4496.85
25 February 2015 2460.17 1777.08 1.70 247.78 4486.72
4 March 2015 2460.03 1777.10 1.70 248.75 4487.58
11 March 2015 2459.91 1777.13 1.70 250.54 4489.28
18 March 2015 2459.79 1782.79 1.70 251.61 4495.89
25 March 2015 2459.67 1768.79 1.71 250.44 4480.60
1 April 2015 2459.58 1768.81 2.56 250.85 4481.80
8 April 2015 2459.69 1768.81 1.72 253.20 4483.42
15 April 2015 2459.81 1770.33 1.73 253.50 4485.37
22 April 2015 2459.92 1772.96 1.75 255.06 4489.70
29 April 2015 2460.03 1754.74 1.75 254.97 4471.50
6 May 2015 2460.18 1754.75 1.75 256.02 4472.70
13 May 2015 2460.33 1779.73 1.78 259.34 4501.19
20 May 2015 2460.49 1773.36 1.79 244.75 4480.38
27 May 2015 2460.64 1758.33 1.80 243.22 4463.98
3 June 2015 2460.75 1758.33 1.82 244.46 4465.36
10 June 2015 2460.80 1758.33 1.83 247.04 4468.00
17 June 2015 2460.86 1776.77 2.00 248.18 4487.82
24 June 2015 2460.91 1782.29 2.02 249.84 4495.05
1 July 2015 2460.98 1767.96 2.50 247.70 4479.13
8 July 2015 2461.11 1767.96 2.03 250.20 4481.29
15 July 2015 2461.24 1779.70 2.19 250.47 4493.61
22 July 2015 2461.37 1784.55 2.55 252.03 4500.50
29 July 2015 2461.50 1769.93 2.26 251.79 4485.48
5 August 2015 2461.60 1769.95 2.21 252.56 4486.33
12 August 2015 2461.69 1769.98 2.17 255.41 4489.25
19 August 2015 2461.78 1783.17 2.16 240.10 4487.21
26 August 2015 2461.88 1771.70 2.09 239.44 4475.11
2 September 2015 2461.94 1771.78 2.09 240.08 4475.89
9 September 2015 2461.94 1771.80 2.09 242.39 4478.21
16 September 2015 2461.94 1780.21 2.11 243.54 4487.81
23 September 2015 2461.95 1787.71 2.67 245.16 4497.48
30 September 2015 2461.95 1776.33 2.64 243.20 4484.11
7 October 2015 2461.91 1776.34 2.07 245.86 4486.18
14 October 2015 2461.87 1791.58 2.07 249.18 4504.70
21 October 2015 2461.84 1789.34 2.03 248.16 4501.37
28 October 2015 2461.80 1778.24 2.02 247.28 4489.34
4 November 2015 2461.76 1778.25 1.99 247.71 4489.70
11 November 2015 2461.72 1778.25 1.97 250.08 4492.01
18 November 2015 2461.68 1786.45 1.97 236.63 4486.72
25 November 2015 2461.63 1777.73 1.95 235.77 4477.09
2 December 2015 2461.60 1777.73 1.92 236.81 4478.07
9 December 2015 2461.59 1777.74 1.93 239.17 4480.44
16 December 2015 2461.58 1786.10 1.93 239.99 4489.59
23 December 2015 2461.57 1790.70 2.71 241.54 4496.52
30 December 2015 2461.55 1780.41 3.35 241.27 4486.59
6 January 2016 2461.51 1780.41 2.87 241.82 4486.61
13 January 2016 2461.45 1793.55 1.86 244.83 4501.70
20 January 2016 2461.40 1781.59 1.86 243.99 4488.84
27 January 2016 2461.34 1775.50 1.95 243.56 4482.35
3 February 2016 2461.27 1775.50 1.82 244.91 4483.49

Note: Data values are rounded and may not sum to totals. "Credit and liquidity facilities" consists of primary, secondary, and seasonal credit; term auction credit; central bank liquidity swaps; support for Maiden Lane, Bear Stearns, and AIG; and other credit facilities, including the Primary Dealer Credit Facility, the Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility, the Commercial Paper Funding Facility, and the Term Asset-Backed Securities Loan Facility. "Other assets" includes unamortized premiums and discounts on securities held outright. The data extend through February 3, 2016.

Source: Federal Reserve Board, Statistical Release H.4.1, "Factors Affecting Reserve Balances."

Liabilities and capital
Weekly
Values for each component are in billions of dollars; charted totals are in trillions of dollars

Period Federal Reserve
notes in
circulation		 Deposits of
depository
institutions		 Capital and
other liabilities		 Sum
2 January 2008 791.68 39.77 90.73 922.19
9 January 2008 781.80 12.89 86.06 880.75
16 January 2008 775.50 28.25 89.83 893.58
23 January 2008 774.71 15.98 86.56 877.25
30 January 2008 774.28 38.50 87.48 900.26
6 February 2008 777.11 9.46 84.46 871.02
13 February 2008 778.94 18.02 86.04 883.00
20 February 2008 780.50 10.32 88.12 878.95
27 February 2008 779.45 22.12 92.25 893.83
5 March 2008 780.77 9.73 90.71 881.21
12 March 2008 781.25 25.01 90.30 896.56
19 March 2008 781.20 10.17 97.27 888.65
26 March 2008 780.63 21.57 91.77 893.97
2 April 2008 779.56 11.42 92.73 883.71
9 April 2008 778.90 25.76 88.37 893.03
16 April 2008 777.51 12.74 91.65 881.90
23 April 2008 776.64 17.10 92.04 885.78
30 April 2008 777.09 20.30 90.74 888.13
7 May 2008 779.43 19.37 90.43 889.23
14 May 2008 780.79 10.57 88.81 880.18
21 May 2008 783.35 27.75 87.39 898.49
28 May 2008 787.70 26.89 89.47 904.05
4 June 2008 787.10 15.75 93.09 895.94
11 June 2008 786.40 14.37 89.84 890.61
18 June 2008 786.53 24.15 91.62 902.30
25 June 2008 787.96 12.83 91.92 892.71
2 July 2008 795.09 16.23 91.64 902.96
9 July 2008 795.66 11.01 91.36 898.03
16 July 2008 793.42 23.93 93.33 910.68
23 July 2008 794.24 10.97 94.45 899.66
30 July 2008 795.56 28.71 94.35 918.63
6 August 2008 795.85 10.86 95.00 901.71
13 August 2008 795.10 25.34 94.19 914.63
20 August 2008 793.70 10.46 94.45 898.61
27 August 2008 795.69 19.38 94.91 909.98
3 September 2008 799.72 10.94 94.60 905.25
10 September 2008 797.60 32.07 96.05 925.72
17 September 2008 796.09 89.10 109.90 995.09
24 September 2008 799.42 95.30 317.10 1211.83
1 October 2008 803.98 179.29 520.72 1503.99
8 October 2008 811.69 183.31 596.58 1591.59
15 October 2008 818.50 271.88 680.43 1770.81
22 October 2008 819.90 226.90 755.80 1802.60
29 October 2008 823.71 425.97 719.40 1969.09
5 November 2008 826.88 503.59 743.74 2074.21
12 November 2008 828.45 594.35 790.05 2212.85
19 November 2008 828.62 630.49 728.03 2187.14
26 November 2008 835.08 611.19 659.84 2106.12
3 December 2008 835.83 655.18 645.92 2136.92
10 December 2008 837.56 777.84 634.61 2250.01
17 December 2008 840.74 801.74 612.50 2254.98
24 December 2008 849.72 819.40 563.19 2232.31
31 December 2008 853.17 860.00 526.29 2239.46
7 January 2009 847.96 846.14 427.34 2121.44
14 January 2009 844.07 827.51 378.13 2049.71
21 January 2009 848.20 808.30 380.61 2037.11
28 January 2009 848.79 740.40 337.88 1927.08
4 February 2009 852.30 647.00 352.14 1851.44
11 February 2009 856.00 600.06 387.34 1843.40
18 February 2009 858.49 709.13 347.94 1915.56
25 February 2009 858.74 701.14 356.23 1916.12
4 March 2009 860.47 619.71 421.13 1901.32
11 March 2009 862.26 632.49 404.76 1899.51
18 March 2009 862.73 780.31 423.90 2066.94
25 March 2009 863.09 822.41 386.05 2071.56
1 April 2009 864.52 837.46 376.96 2078.94
8 April 2009 866.08 841.59 380.91 2088.57
15 April 2009 865.23 894.90 426.37 2186.50
22 April 2009 862.96 915.77 418.08 2196.81
29 April 2009 863.09 812.93 390.70 2066.71
6 May 2009 865.87 825.62 388.27 2079.76
13 May 2009 865.51 931.74 399.10 2196.35
20 May 2009 866.47 955.22 359.95 2181.63
27 May 2009 870.02 877.01 333.09 2080.12
3 June 2009 868.77 844.68 364.24 2077.70
10 June 2009 868.43 815.66 368.21 2052.30
17 June 2009 867.52 743.95 461.05 2072.53
24 June 2009 867.27 745.17 413.13 2025.57
1 July 2009 871.29 726.26 408.08 2005.63
8 July 2009 872.76 749.15 370.83 1992.74
15 July 2009 870.33 808.82 393.30 2072.45
22 July 2009 869.23 781.39 388.38 2039.00
29 July 2009 870.58 747.12 382.85 2000.55
5 August 2009 872.15 724.65 392.40 1989.20
12 August 2009 872.80 777.03 365.07 2014.90
19 August 2009 871.49 818.81 370.35 2060.64
26 August 2009 870.41 861.95 342.54 2074.90
2 September 2009 872.81 822.33 388.57 2083.72
9 September 2009 876.68 878.00 333.27 2087.95
16 September 2009 873.94 862.83 403.02 2139.78
23 September 2009 872.32 903.04 383.27 2158.63
30 September 2009 873.50 848.09 419.44 2141.02
7 October 2009 876.12 966.54 295.43 2138.09
14 October 2009 877.79 1051.95 263.05 2192.79
21 October 2009 875.32 1059.57 266.23 2201.12
28 October 2009 874.84 1083.45 203.25 2161.54
4 November 2009 877.49 1065.12 222.46 2165.07
11 November 2009 880.88 1044.24 209.92 2135.04
18 November 2009 879.36 1109.27 220.09 2208.72
25 November 2009 883.03 1168.57 154.76 2206.36
2 December 2009 882.42 1122.01 199.65 2204.07
9 December 2009 883.19 1106.67 196.52 2186.38
16 December 2009 883.39 1073.30 279.08 2235.76
23 December 2009 888.79 1082.52 264.50 2235.80
30 December 2009 889.68 1025.27 319.12 2234.07
6 January 2010 884.45 1024.50 326.36 2235.30
13 January 2010 879.22 1135.25 277.23 2291.70
20 January 2010 879.32 1063.04 309.44 2251.81
27 January 2010 878.38 1110.74 257.77 2246.89
3 February 2010 883.46 1116.26 249.59 2249.32
10 February 2010 889.09 1163.60 203.99 2256.68
17 February 2010 892.98 1205.16 179.42 2277.57
24 February 2010 892.06 1248.92 145.14 2286.13
3 March 2010 892.78 1186.08 201.28 2280.15
10 March 2010 893.62 1190.76 198.10 2282.47
17 March 2010 893.26 1118.09 296.64 2308.00
24 March 2010 893.04 1147.75 272.37 2313.15
31 March 2010 894.15 1053.88 359.13 2307.15
7 April 2010 896.30 1114.29 296.99 2307.58
14 April 2010 895.45 1063.98 379.91 2339.35
21 April 2010 894.76 1059.29 383.50 2337.56
28 April 2010 895.34 1048.80 386.33 2330.47
5 May 2010 897.52 1032.74 395.91 2326.16
12 May 2010 898.68 1092.84 344.58 2336.10
19 May 2010 897.57 1095.74 357.58 2350.89
26 May 2010 899.78 1088.40 345.86 2334.04
2 June 2010 903.73 1038.83 393.66 2336.22
9 June 2010 901.39 1078.09 352.04 2331.53
16 June 2010 899.86 1020.68 423.78 2344.32
23 June 2010 899.73 1063.50 381.26 2344.50
30 June 2010 904.13 973.49 453.23 2330.85
7 July 2010 907.70 1061.24 363.08 2332.02
14 July 2010 904.54 1073.38 362.79 2340.72
21 July 2010 902.26 1052.53 377.54 2332.32
28 July 2010 903.33 1055.13 366.83 2325.30
4 August 2010 905.77 1042.34 378.37 2326.48
11 August 2010 906.92 1060.35 360.27 2327.53
18 August 2010 906.76 1043.91 362.99 2313.66
25 August 2010 906.28 1055.46 339.28 2301.02
1 September 2010 909.87 1015.10 377.02 2302.00
8 September 2010 913.69 1054.52 337.59 2305.80
15 September 2010 911.26 936.72 448.10 2296.08
22 September 2010 910.62 984.61 411.94 2307.17
29 September 2010 913.76 986.26 398.67 2298.69
6 October 2010 918.61 1002.13 387.35 2308.09
13 October 2010 922.58 1033.88 353.42 2309.88
20 October 2010 921.38 1000.15 383.70 2305.23
27 October 2010 922.33 1015.72 357.35 2295.39
3 November 2010 927.73 987.84 384.79 2300.35
10 November 2010 933.75 1006.82 372.20 2312.77
17 November 2010 932.38 988.87 393.51 2314.76
24 November 2010 937.34 1027.83 380.83 2346.00
1 December 2010 936.39 1010.84 399.69 2346.92
8 December 2010 937.53 1066.37 378.40 2382.29
15 December 2010 938.44 1002.17 445.15 2385.75
22 December 2010 942.42 1040.64 444.86 2427.92
29 December 2010 943.75 1025.84 450.98 2420.57
5 January 2011 940.31 1033.17 462.59 2436.06
12 January 2011 936.96 1097.84 433.33 2468.13
19 January 2011 937.40 1063.96 423.80 2425.16
26 January 2011 935.34 1086.33 421.86 2443.53
2 February 2011 941.62 1081.32 446.48 2469.42
9 February 2011 947.26 1189.25 363.97 2500.48
16 February 2011 951.43 1225.13 332.31 2508.87
23 February 2011 956.01 1297.90 279.30 2533.22
2 March 2011 957.71 1303.78 283.63 2545.12
9 March 2011 959.95 1386.41 230.71 2577.08
16 March 2011 961.87 1336.62 284.56 2583.05
23 March 2011 962.52 1410.47 228.35 2601.34
30 March 2011 963.99 1458.16 200.37 2622.52
6 April 2011 968.05 1505.14 175.49 2648.68
13 April 2011 969.78 1539.27 156.35 2665.41
20 April 2011 970.58 1470.40 244.80 2685.78
27 April 2011 972.35 1457.27 261.36 2690.98
4 May 2011 975.72 1480.56 262.47 2718.76
11 May 2011 976.79 1546.65 221.06 2744.50
18 May 2011 976.33 1538.70 242.98 2758.01
25 May 2011 979.16 1592.09 203.75 2775.00
1 June 2011 984.20 1593.13 211.39 2788.72
8 June 2011 983.09 1668.05 160.06 2811.21
15 June 2011 982.36 1574.32 270.87 2827.55
22 June 2011 981.75 1602.05 272.60 2856.40
29 June 2011 985.79 1627.48 251.98 2865.25
6 July 2011 990.86 1663.02 216.22 2870.10
13 July 2011 988.29 1687.51 202.27 2878.07
20 July 2011 987.62 1627.20 256.48 2871.30
27 July 2011 989.02 1658.32 216.24 2863.58
3 August 2011 993.06 1652.95 221.20 2867.21
10 August 2011 992.79 1633.15 246.48 2872.42
17 August 2011 992.38 1652.25 213.28 2857.91
24 August 2011 991.61 1615.13 252.69 2859.43
31 August 2011 996.06 1592.00 265.84 2853.89
7 September 2011 1001.53 1610.24 246.90 2858.66
14 September 2011 998.15 1620.66 244.73 2863.54
21 September 2011 995.06 1549.46 313.23 2857.75
28 September 2011 996.32 1614.07 240.53 2850.92
5 October 2011 1000.67 1631.67 227.36 2859.70
12 October 2011 1003.32 1640.47 217.03 2860.82
19 October 2011 1001.15 1576.76 274.47 2852.39
26 October 2011 1001.57 1588.04 256.07 2845.68
2 November 2011 1008.44 1521.76 291.83 2822.03
9 November 2011 1015.19 1593.64 230.96 2839.79
16 November 2011 1016.37 1577.57 237.64 2831.58
23 November 2011 1020.75 1496.88 304.34 2821.98
30 November 2011 1020.45 1492.31 301.48 2814.23
7 December 2011 1022.09 1555.04 243.56 2820.69
14 December 2011 1024.63 1620.22 257.64 2902.49
21 December 2011 1028.52 1506.56 381.01 2916.09
28 December 2011 1034.52 1569.27 322.31 2926.09
4 January 2012 1032.53 1581.55 303.61 2917.69
11 January 2012 1026.59 1584.78 287.79 2899.15
18 January 2012 1026.12 1548.54 344.76 2919.42
25 January 2012 1024.68 1582.32 312.55 2919.55
1 February 2012 1028.91 1577.03 319.01 2924.95
8 February 2012 1036.97 1636.81 254.49 2928.27
15 February 2012 1044.26 1673.84 219.80 2937.89
22 February 2012 1048.00 1622.80 262.01 2932.81
29 February 2012 1049.88 1607.11 268.74 2925.72
7 March 2012 1053.26 1604.06 227.43 2884.75
14 March 2012 1055.15 1566.19 272.22 2893.56
21 March 2012 1055.47 1544.63 292.54 2892.65
28 March 2012 1056.42 1568.04 253.68 2878.14
4 April 2012 1059.52 1565.41 240.55 2865.48
11 April 2012 1059.84 1571.86 235.50 2867.20
18 April 2012 1058.55 1518.36 298.56 2875.47
25 April 2012 1058.31 1526.32 281.93 2866.56
2 May 2012 1060.63 1483.14 320.50 2864.28
9 May 2012 1062.15 1510.34 291.66 2864.15
16 May 2012 1061.64 1515.70 273.64 2850.98
23 May 2012 1063.77 1529.20 266.52 2859.50
30 May 2012 1068.15 1529.14 245.36 2842.65
6 June 2012 1067.82 1549.91 234.28 2852.02
13 June 2012 1067.22 1569.72 232.13 2869.07
20 June 2012 1066.76 1461.72 342.37 2870.85
27 June 2012 1067.92 1491.99 303.64 2863.55
4 July 2012 1075.91 1507.95 282.00 2865.86
11 July 2012 1073.73 1527.56 264.99 2866.28
18 July 2012 1070.22 1537.29 248.30 2855.81
25 July 2012 1069.71 1570.91 206.14 2846.76
1 August 2012 1072.59 1544.04 234.49 2851.12
8 August 2012 1074.52 1563.26 218.40 2856.18
15 August 2012 1075.22 1566.53 191.57 2833.32
22 August 2012 1075.75 1509.85 240.06 2825.66
29 August 2012 1081.17 1531.19 200.45 2812.81
5 September 2012 1086.61 1528.38 207.18 2822.17
12 September 2012 1083.84 1502.90 236.72 2823.45
19 September 2012 1083.31 1423.68 314.59 2821.57
26 September 2012 1085.81 1473.58 245.07 2804.46
3 October 2012 1091.28 1467.67 249.57 2808.51
10 October 2012 1094.79 1472.83 244.00 2811.62
17 October 2012 1093.84 1506.25 246.83 2846.92
24 October 2012 1092.84 1433.24 314.88 2840.96
31 October 2012 1099.57 1434.40 289.16 2823.14
7 November 2012 1104.77 1511.30 214.73 2830.79
14 November 2012 1106.92 1509.83 260.50 2877.24
21 November 2012 1111.19 1515.96 244.01 2871.16
28 November 2012 1110.45 1542.56 198.35 2851.36
5 December 2012 1112.32 1526.98 220.50 2859.81
12 December 2012 1113.53 1548.23 255.50 2917.26
19 December 2012 1117.46 1482.70 320.07 2920.23
26 December 2012 1124.58 1532.69 250.04 2907.30
2 January 2013 1126.86 1508.67 281.66 2917.19
9 January 2013 1118.35 1565.50 244.88 2928.73
16 January 2013 1112.82 1604.29 246.71 2963.81
23 January 2013 1113.88 1599.36 298.46 3011.70
30 January 2013 1113.86 1648.03 246.81 3008.70
6 February 2013 1118.59 1670.75 225.63 3014.98
13 February 2013 1123.00 1699.72 251.51 3074.23
20 February 2013 1127.72 1668.38 299.04 3095.15
27 February 2013 1128.86 1754.36 207.38 3090.60
6 March 2013 1132.65 1745.31 230.84 3108.81
13 March 2013 1133.30 1802.59 229.51 3165.40
20 March 2013 1132.56 1759.27 315.06 3206.89
27 March 2013 1135.09 1832.66 234.50 3202.26
3 April 2013 1136.94 1840.87 237.62 3215.43
10 April 2013 1137.09 1854.41 236.27 3227.76
17 April 2013 1136.35 1849.23 309.53 3295.11
24 April 2013 1137.60 1749.49 431.56 3318.65
1 May 2013 1139.97 1813.60 363.62 3317.19
8 May 2013 1142.53 1869.66 312.42 3324.62
15 May 2013 1143.32 1952.30 258.65 3354.27
22 May 2013 1145.26 1975.18 278.28 3398.71
29 May 2013 1149.34 2033.09 202.71 3385.13
5 June 2013 1147.52 2036.75 215.91 3400.18
12 June 2013 1146.60 2051.22 213.02 3410.84
19 June 2013 1146.88 1938.89 384.76 3470.53
26 June 2013 1150.33 2017.73 310.61 3478.67
3 July 2013 1159.06 2051.98 281.70 3492.74
10 July 2013 1156.86 2083.05 264.19 3504.10
17 July 2013 1152.59 2140.44 244.83 3537.86
24 July 2013 1151.99 2111.24 311.35 3574.57
31 July 2013 1154.32 2132.76 284.72 3571.80
7 August 2013 1156.92 2172.90 255.55 3585.36
14 August 2013 1156.36 2210.77 279.19 3646.32
21 August 2013 1156.38 2200.19 289.10 3645.67
28 August 2013 1160.51 2264.58 219.37 3644.46
4 September 2013 1166.70 2274.20 213.29 3654.18
11 September 2013 1163.47 2275.64 222.92 3662.03
18 September 2013 1161.85 2265.69 294.65 3722.19
25 September 2013 1162.80 2318.67 252.54 3734.02
2 October 2013 1166.48 2340.82 240.09 3747.39
9 October 2013 1170.91 2374.56 213.19 3758.66
16 October 2013 1173.13 2383.43 257.04 3813.60
23 October 2013 1173.97 2382.59 282.47 3839.03
30 October 2013 1175.55 2434.95 232.90 3843.40
6 November 2013 1177.48 2450.03 224.11 3851.62
13 November 2013 1178.74 2489.02 239.66 3907.42
20 November 2013 1176.94 2470.18 259.50 3906.62
27 November 2013 1183.99 2501.92 239.97 3925.88
4 December 2013 1185.26 2524.16 223.21 3932.63
11 December 2013 1186.44 2554.25 253.26 3993.95
18 December 2013 1189.18 2479.46 339.42 4008.06
25 December 2013 1195.20 2450.73 386.64 4032.58
1 January 2014 1197.92 2249.07 576.65 4023.64
8 January 2014 1190.76 2490.13 347.29 4028.18
15 January 2014 1183.54 2560.08 327.91 4071.53
22 January 2014 1182.67 2507.55 407.69 4097.91
29 January 2014 1183.14 2538.60 380.40 4102.14
5 February 2014 1187.15 2559.72 362.41 4109.28
12 February 2014 1191.69 2614.61 313.17 4119.47
19 February 2014 1202.56 2610.62 336.04 4149.22
26 February 2014 1207.57 2610.54 341.86 4159.97
5 March 2014 1215.07 2659.07 297.62 4171.76
12 March 2014 1218.57 2676.23 286.56 4181.36
19 March 2014 1223.18 2629.18 369.72 4222.08
26 March 2014 1224.80 2626.58 375.59 4226.97
2 April 2014 1226.95 2626.02 383.47 4236.44
9 April 2014 1227.77 2697.89 318.53 4244.19
16 April 2014 1227.49 2670.80 385.67 4283.97
23 April 2014 1227.12 2583.72 485.51 4296.34
30 April 2014 1228.71 2514.44 552.90 4296.05
7 May 2014 1231.36 2597.05 474.73 4303.14
14 May 2014 1232.06 2647.63 456.96 4336.65
21 May 2014 1233.59 2658.13 435.84 4327.56
28 May 2014 1237.98 2704.87 379.80 4322.65
4 June 2014 1237.06 2750.97 342.89 4330.92
11 June 2014 1236.06 2768.34 336.50 4340.90
18 June 2014 1235.77 2715.35 417.04 4368.17
25 June 2014 1236.20 2720.75 411.39 4368.35
2 July 2014 1243.67 2697.20 436.16 4377.03
9 July 2014 1244.20 2757.94 381.26 4383.40
16 July 2014 1241.29 2807.01 349.90 4398.20
23 July 2014 1240.23 2788.00 382.52 4410.75
30 July 2014 1241.97 2785.80 378.87 4406.64
6 August 2014 1244.47 2789.41 376.24 4410.11
13 August 2014 1244.87 2799.35 387.70 4431.92
20 August 2014 1243.75 2769.84 399.33 4412.92
27 August 2014 1246.22 2778.39 389.12 4413.74
3 September 2014 1250.07 2813.75 351.77 4415.59
10 September 2014 1247.98 2788.95 384.47 4421.41
17 September 2014 1244.96 2751.91 452.72 4449.59
24 September 2014 1245.12 2707.19 506.75 4459.05
1 October 2014 1246.84 2685.95 517.47 4450.26
8 October 2014 1249.64 2765.62 440.14 4455.40
15 October 2014 1252.22 2820.74 401.41 4474.36
22 October 2014 1252.92 2789.64 439.06 4481.62
29 October 2014 1255.07 2799.13 432.55 4486.75
5 November 2014 1262.99 2819.36 404.24 4486.58
12 November 2014 1268.94 2832.80 387.15 4488.90
19 November 2014 1267.71 2794.04 431.01 4492.76
26 November 2014 1273.19 2814.01 398.73 4485.93
3 December 2014 1274.49 2814.17 397.54 4486.19
10 December 2014 1277.42 2831.09 380.36 4488.87
17 December 2014 1282.56 2739.11 480.58 4502.25
24 December 2014 1294.25 2609.63 605.58 4509.46
31 December 2014 1298.73 2378.00 820.94 4497.66
7 January 2015 1293.70 2710.27 495.55 4499.52
14 January 2015 1286.58 2760.38 469.11 4516.08
21 January 2015 1286.57 2671.70 554.66 4512.94
28 January 2015 1285.82 2662.58 551.67 4500.06
4 February 2015 1290.77 2708.81 500.77 4500.35
11 February 2015 1298.11 2746.30 457.28 4501.69
18 February 2015 1304.19 2742.82 449.84 4496.85
25 February 2015 1306.85 2751.15 428.73 4486.72
4 March 2015 1310.42 2770.74 406.42 4487.58
11 March 2015 1311.67 2799.92 377.68 4489.28
18 March 2015 1311.85 2726.32 457.72 4495.89
25 March 2015 1312.91 2737.80 429.89 4480.60
1 April 2015 1315.26 2667.66 498.88 4481.80
8 April 2015 1318.71 2792.91 371.80 4483.42
15 April 2015 1317.08 2748.95 419.33 4485.37
22 April 2015 1315.04 2617.38 557.28 4489.70
29 April 2015 1315.98 2581.07 574.45 4471.50
6 May 2015 1319.63 2610.06 543.02 4472.70
13 May 2015 1320.02 2643.84 537.32 4501.19
20 May 2015 1321.44 2588.15 570.80 4480.38
27 May 2015 1324.88 2616.84 522.26 4463.98
3 June 2015 1323.78 2635.75 505.83 4465.36
10 June 2015 1322.05 2661.66 484.29 4468.00
17 June 2015 1320.36 2575.51 591.95 4487.82
24 June 2015 1320.47 2493.53 681.05 4495.05
1 July 2015 1325.15 2504.53 649.45 4479.13
8 July 2015 1326.79 2585.34 569.15 4481.29
15 July 2015 1325.70 2655.15 512.76 4493.61
22 July 2015 1325.71 2645.46 529.33 4500.50
29 July 2015 1327.71 2632.83 524.94 4485.48
5 August 2015 1330.07 2624.01 532.25 4486.33
12 August 2015 1331.79 2621.86 535.61 4489.25
19 August 2015 1331.40 2676.85 478.96 4487.21
26 August 2015 1333.21 2705.16 436.73 4475.11
2 September 2015 1337.30 2694.82 443.77 4475.89
9 September 2015 1342.14 2734.65 401.42 4478.21
16 September 2015 1339.72 2643.76 504.32 4487.81
23 September 2015 1339.84 2602.20 555.45 4497.48
30 September 2015 1342.39 2197.66 944.06 4484.11
7 October 2015 1345.84 2678.79 461.55 4486.18
14 October 2015 1347.75 2719.98 436.97 4504.70
21 October 2015 1347.01 2675.59 478.77 4501.37
28 October 2015 1349.74 2668.19 471.41 4489.34
4 November 2015 1355.85 2689.85 444.00 4489.70
11 November 2015 1360.33 2659.34 472.34 4492.01
18 November 2015 1359.95 2611.97 514.81 4486.72
25 November 2015 1365.31 2574.96 536.82 4477.09
2 December 2015 1366.60 2532.19 579.28 4478.07
9 December 2015 1367.34 2553.85 559.25 4480.44
16 December 2015 1368.99 2460.05 660.55 4489.59
23 December 2015 1376.35 2371.08 749.09 4496.52
30 December 2015 1380.76 2208.68 897.14 4486.59
6 January 2016 1376.50 2353.50 756.60 4486.61
13 January 2016 1370.22 2450.83 680.64 4501.70
20 January 2016 1369.05 2412.08 707.71 4488.84
27 January 2016 1368.19 2399.27 714.90 4482.35
3 February 2016 1370.25 2441.28 671.96 4483.49

Note: Data values are rounded and may not sum to totals. "Capital and other liabilities" includes reverse repurchase agreements, the U.S. Treasury General Account, and the U.S. Treasury Supplementary Financing Account. The data extend through February 3, 2016.

Source: Federal Reserve Board, Statistical Release H.4.1, "Factors Affecting Reserve Balances."

Return to text



Financial Stability



Figure 1. Corporate bond spreads to similar-maturity Treasury securities, 1997-2016

Monthly
Percent

Period 10-year high yield 10-year triple-B
January 1997 3.23 0.82
February 1997 3.10 0.79
March 1997 2.93 0.74
April 1997 2.90 0.74
May 1997 2.76 0.77
June 1997 2.81 0.75
July 1997 2.91 0.75
August 1997 2.73 0.71
September 1997 2.75 0.70
October 1997 2.78 0.71
November 1997 3.06 0.85
December 1997 3.08 0.89
January 1998 3.24 0.90
February 1998 3.14 0.93
March 1998 3.07 0.93
April 1998 3.07 0.92
May 1998 3.20 0.91
June 1998 3.52 0.94
July 1998 3.64 1.00
August 1998 4.15 1.17
September 1998 5.31 1.59
October 1998 5.87 1.65
November 1998 5.29 1.78
December 1998 5.15 1.63
January 1999 5.05 1.57
February 1999 4.82 1.44
March 1999 4.65 1.38
April 1999 4.47 1.35
May 1999 4.38 1.32
June 1999 4.38 1.41
July 1999 4.46 1.42
August 1999 4.44 1.49
September 1999 4.56 1.53
October 1999 4.49 1.48
November 1999 4.56 1.49
December 1999 4.18 1.44
January 2000 4.19 1.46
February 2000 4.43 1.48
March 2000 5.05 1.63
April 2000 5.56 1.88
May 2000 5.37 2.09
June 2000 5.69 2.10
July 2000 5.79 2.04
August 2000 5.99 2.04
September 2000 5.81 2.03
October 2000 6.51 2.08
November 2000 7.08 2.12
December 2000 7.73 2.22
January 2001 6.95 2.16
February 2001 6.26 2.09
March 2001 6.45 2.13
April 2001 6.77 2.12
May 2001 6.25 1.95
June 2001 6.34 1.90
July 2001 6.44 1.97
August 2001 6.32 1.94
September 2001 6.91 2.12
October 2001 7.08 2.18
November 2001 6.14 2.18
December 2001 5.71 2.02
January 2002 5.61 2.11
February 2002 5.76 2.30
March 2002 5.02 2.19
April 2002 5.11 2.20
May 2002 5.14 2.33
June 2002 5.89 2.24
July 2002 6.53 2.60
August 2002 7.19 2.80
September 2002 7.32 2.81
October 2002 7.88 3.06
November 2002 7.08 2.73
December 2002 6.77 2.45
January 2003 6.13 2.33
February 2003 6.31 2.34
March 2003 6.10 2.26
April 2003 5.35 1.98
May 2003 5.28 1.81
June 2003 5.21 1.75
July 2003 4.64 1.66
August 2003 4.62 1.64
September 2003 4.27 1.55
October 2003 3.99 1.47
November 2003 3.83 1.40
December 2003 3.56 1.34
January 2004 3.37 1.26
February 2004 3.64 1.31
March 2004 3.88 1.35
April 2004 3.49 1.29
May 2004 3.63 1.36
June 2004 3.59 1.36
July 2004 3.58 1.35
August 2004 3.67 1.35
September 2004 3.58 1.28
October 2004 3.48 1.22
November 2004 3.14 1.13
December 2004 3.07 1.07
January 2005 3.15 1.07
February 2005 3.06 1.02
March 2005 2.91 1.03
April 2005 3.49 1.18
May 2005 4.05 1.25
June 2005 3.85 1.23
July 2005 3.52 1.20
August 2005 3.42 1.16
September 2005 3.61 1.22
October 2005 3.64 1.26
November 2005 3.69 1.28
December 2005 3.75 1.32
January 2006 3.70 1.33
February 2006 3.51 1.29
March 2006 3.35 1.28
April 2006 3.16 1.30
May 2006 3.13 1.29
June 2006 3.41 1.41
July 2006 3.54 1.47
August 2006 3.67 1.47
September 2006 3.71 1.47
October 2006 3.59 1.46
November 2006 3.61 1.40
December 2006 3.58 1.40
January 2007 3.38 1.37
February 2007 3.25 1.31
March 2007 3.45 1.36
April 2007 3.26 1.38
May 2007 3.12 1.36
June 2007 3.04 1.38
July 2007 3.66 1.50
August 2007 4.29 1.76
September 2007 4.25 1.83
October 2007 4.01 1.73
November 2007 4.79 1.97
December 2007 5.00 2.20
January 2008 5.88 2.41
February 2008 6.10 2.64
March 2008 6.58 2.96
April 2008 6.14 2.92
May 2008 5.63 2.68
June 2008 5.65 2.65
July 2008 6.25 2.92
August 2008 6.50 3.09
September 2008 7.10 3.44
October 2008 10.60 4.85
November 2008 12.56 5.67
December 2008 14.53 6.47
January 2009 11.89 5.99
February 2009 11.01 5.43
March 2009 12.61 5.76
April 2009 10.25 5.45
May 2009 9.50 4.44
June 2009 8.16 3.66
July 2009 7.77 3.32
August 2009 6.89 2.78
September 2009 6.49 2.71
October 2009 6.00 2.58
November 2009 5.83 2.50
December 2009 5.50 2.28
January 2010 4.80 1.89
February 2010 5.07 1.99
March 2010 4.80 1.87
April 2010 4.44 1.71
May 2010 5.21 1.92
June 2010 5.63 2.19
July 2010 5.40 2.16
August 2010 5.45 2.17
September 2010 5.27 2.19
October 2010 4.95 2.12
November 2010 4.73 2.08
December 2010 4.39 2.03
January 2011 4.10 1.91
February 2011 3.80 1.84
March 2011 3.96 1.85
April 2011 3.83 1.80
May 2011 4.03 1.83
June 2011 4.46 1.97
July 2011 4.35 1.96
August 2011 5.62 2.34
September 2011 6.20 2.85
October 2011 6.17 2.98
November 2011 6.01 2.79
December 2011 5.95 2.89
January 2012 5.50 2.81
February 2012 5.22 2.65
March 2012 5.02 2.46
April 2012 5.22 2.53
May 2012 5.50 2.69
June 2012 5.86 2.86
July 2012 5.60 2.72
August 2012 5.25 2.51
September 2012 4.99 2.39
October 2012 4.88 2.16
November 2012 4.98 2.22
December 2012 4.63 2.19
January 2013 4.26 2.02
February 2013 4.30 2.08
March 2013 4.27 2.11
April 2013 4.41 2.13
May 2013 4.07 2.05
June 2013 4.27 2.26
July 2013 4.05 2.21
August 2013 4.09 2.17
September 2013 4.10 2.20
October 2013 4.07 2.13
November 2013 3.87 2.03
December 2013 3.69 1.88
January 2014 3.66 1.80
February 2014 3.68 1.82
March 2014 3.51 1.78
April 2014 3.47 1.67
May 2014 3.50 1.65
June 2014 3.29 1.59
July 2014 3.41 1.59
August 2014 3.58 1.65
September 2014 3.56 1.66
October 2014 3.83 1.78
November 2014 3.78 1.85
December 2014 4.22 1.99
January 2015 4.43 2.07
February 2015 4.11 1.92
March 2015 4.08 1.87
April 2015 3.99 1.88
May 2015 3.82 1.92
June 2015 3.85 2.03
July 2015 4.05 2.15
August 2015 4.37 2.30
September 2015 4.53 2.34
October 2015 4.78 2.37
November 2015 4.67 2.26
December 2015 5.02 2.34
January 2016 5.42 2.52
February 2016 5.96 2.80

Note: The data extend through February 2016.

Source: Staff estimates based on corporate bond data from BofA Merrill Lynch Global Research (used with permission), computed using Nelson-Siegel yield curve model; semiannually compounded 10-year Treasury yield (par) estimated by Svensson term structure model.

Return to text



Figure 2. Leveraged loan and high-yield bond issuance, 2004-15

Billions of dollars (annual rate)

Period Leveraged loans High-yield bonds Total
2004 254.03 306.19 560.22
2005 298.83 216.31 515.14
2006 481.55 251.75 733.30
2007 535.38 314.61 849.99
2008 150.33 268.38 418.71
2009 76.25 289.69 365.94
2010 236.81 411.17 647.97
2011 375.28 392.93 768.22
2012 465.52 437.98 903.51
2013 606.89 481.85 1088.74
2014 528.15 423.48 951.63
2015:Q1 375.44 433.59 809.03
2015:Q2 559.76 441.63 1001.39
2015:Q3 452.56 276.62 729.18
2015:Q4 293.92 262.02 555.94

Four-quarter percent change

Period Total outstanding
2005:Q1 6.77
2005:Q2 13.41
2005:Q3 14.12
2005:Q4 17.85
2006:Q1 13.82
2006:Q2 13.68
2006:Q3 12.20
2006:Q4 16.05
2007:Q1 20.57
2007:Q2 22.75
2007:Q3 25.36
2007:Q4 16.59
2008:Q1 12.29
2008:Q2 9.23
2008:Q3 10.01
2008:Q4 4.81
2009:Q1 4.78
2009:Q2 3.42
2009:Q3 -1.18
2009:Q4 -0.06
2010:Q1 2.08
2010:Q2 -1.52
2010:Q3 1.50
2010:Q4 4.33
2011:Q1 2.20
2011:Q2 4.29
2011:Q3 -0.58
2011:Q4 -0.70
2012:Q1 -0.73
2012:Q2 -2.36
2012:Q3 2.02
2012:Q4 4.08
2013:Q1 7.23
2013:Q2 9.23
2013:Q3 11.37
2013:Q4 12.61
2014:Q1 12.38
2014:Q2 15.68
2014:Q3 14.73
2014:Q4 12.24
2015:Q1 11.70
2015:Q2 6.23
2015:Q3 3.03
2015:Q4 2.51

Note: Total outstanding is quarterly data, which start in 2005:Q1. Data include bonds and loans to both financial and nonfinancial companies, as well as unrated bonds and loans. For LCD and FISD, S&P and its third-party information providers expressly disclaim the accuracy and completeness of the information provided to the Board, as well as any errors or omissions arising from the use of such information. Further, the information provided herein does not constitute, and should not be used as, advice regarding the suitability of securities for investment purposes or any other type of investment advice.

Source: Standard & Poor's Leveraged Commentary & Data (LCD); Mergent Corporate Fixed Income (FISD).

Return to text



Figure 3. Expected year-ahead defaults of nonfinancial firms, 2004-15

Monthly
Percent of liabilities

Period Oil Firms All firms
January 2004 0.45 1.56
February 2004 0.55 1.61
March 2004 0.52 1.63
April 2004 0.68 1.57
May 2004 0.68 1.73
June 2004 0.70 1.57
July 2004 0.66 1.76
August 2004 0.66 1.74
September 2004 0.48 1.68
October 2004 0.45 1.61
November 2004 0.26 1.37
December 2004 0.26 1.18
January 2005 0.25 1.31
February 2005 0.22 1.27
March 2005 0.22 1.20
April 2005 0.22 1.40
May 2005 0.21 1.26
June 2005 0.19 1.19
July 2005 0.15 1.01
August 2005 0.16 1.04
September 2005 0.13 1.09
October 2005 0.14 0.82
November 2005 0.15 0.69
December 2005 0.15 0.67
January 2006 0.12 0.49
February 2006 0.13 0.53
March 2006 0.14 0.51
April 2006 0.11 0.45
May 2006 0.09 0.45
June 2006 0.09 0.42
July 2006 0.08 0.40
August 2006 0.08 0.43
September 2006 0.10 0.43
October 2006 0.11 0.40
November 2006 0.11 0.38
December 2006 0.11 0.40
January 2007 0.13 0.38
February 2007 0.13 0.32
March 2007 0.13 0.32
April 2007 0.11 0.31
May 2007 0.11 0.32
June 2007 0.11 0.31
July 2007 0.11 0.31
August 2007 0.13 0.36
September 2007 0.13 0.37
October 2007 0.13 0.36
November 2007 0.14 0.46
December 2007 0.14 0.51
January 2008 0.16 0.62
February 2008 0.17 0.61
March 2008 0.20 0.83
April 2008 0.24 0.81
May 2008 0.37 0.80
June 2008 0.40 0.95
July 2008 0.48 1.08
August 2008 0.51 1.05
September 2008 0.64 1.16
October 2008 1.40 2.14
November 2008 1.95 3.36
December 2008 2.36 3.71
January 2009 2.20 3.97
February 2009 2.75 4.92
March 2009 3.35 5.14
April 2009 2.89 4.21
May 2009 2.47 3.90
June 2009 2.27 3.70
July 2009 2.47 2.58
August 2009 2.17 2.09
September 2009 1.93 1.84
October 2009 1.68 1.77
November 2009 1.89 1.93
December 2009 2.03 1.83
January 2010 1.78 1.63
February 2010 1.88 1.68
March 2010 1.79 1.53
April 2010 1.71 1.43
May 2010 1.83 1.54
June 2010 1.94 1.64
July 2010 2.03 1.74
August 2010 1.96 1.72
September 2010 1.87 1.63
October 2010 1.69 1.50
November 2010 1.57 1.38
December 2010 1.46 1.29
January 2011 1.37 1.09
February 2011 1.22 1.07
March 2011 1.11 1.07
April 2011 1.05 1.00
May 2011 1.05 0.97
June 2011 1.07 1.08
July 2011 1.03 1.08
August 2011 1.24 1.39
September 2011 1.37 1.57
October 2011 1.49 1.65
November 2011 1.30 1.53
December 2011 1.29 1.28
January 2012 1.19 1.05
February 2012 1.11 0.88
March 2012 1.05 0.92
April 2012 0.96 0.95
May 2012 0.89 1.05
June 2012 0.96 1.06
July 2012 0.91 1.04
August 2012 0.88 0.98
September 2012 0.62 0.91
October 2012 0.54 0.91
November 2012 0.64 0.91
December 2012 0.78 0.82
January 2013 0.95 0.74
February 2013 0.93 0.74
March 2013 0.92 0.73
April 2013 0.81 0.70
May 2013 0.67 0.67
June 2013 0.68 0.64
July 2013 0.60 0.59
August 2013 0.60 0.56
September 2013 0.57 0.55
October 2013 0.51 0.53
November 2013 0.51 0.55
December 2013 0.53 0.54
January 2014 0.51 0.52
February 2014 0.52 0.51
March 2014 0.53 0.44
April 2014 0.50 0.44
May 2014 0.52 0.44
June 2014 0.48 0.45
July 2014 0.50 0.44
August 2014 0.56 0.45
September 2014 0.56 0.43
October 2014 0.76 0.47
November 2014 0.87 0.45
December 2014 1.34 0.48
January 2015 1.64 0.48
February 2015 1.48 0.50
March 2015 1.61 0.51
April 2015 1.54 0.52
May 2015 1.80 0.54
June 2015 1.98 0.56
July 2015 2.56 0.61
August 2015 3.35 0.67
September 2015 3.63 0.71
October 2015 3.66 0.72
November 2015 3.84 0.82
December 2015 4.30 0.95

Note: The data extend through December 2015. Firm-level estimates of default weighted by firm liabilities as a percent of total liabilities, excluding defaulted firms.

Source: Moody's Analytics CreditEdge® (www.creditedge.com).

Return to text



Figure 4. Ratio of prices to rents, 2000-16

Monthly
Index, Jan. 2010 = 100

Period United States Median 25th Percentile 75th Percentile
January 2000 95.33 96.77 88.85 102.31
February 2000 95.89 97.44 90.84 102.73
March 2000 96.57 98.29 91.37 103.19
April 2000 97.26 98.58 91.67 103.86
May 2000 97.94 99.42 92.12 104.41
June 2000 98.42 99.58 92.51 105.00
July 2000 98.76 99.86 92.79 105.16
August 2000 99.14 100.00 93.00 105.35
September 2000 99.58 100.57 93.28 105.48
October 2000 99.98 101.37 93.87 105.67
November 2000 100.43 101.82 94.26 106.25
December 2000 100.69 102.30 94.76 106.40
January 2001 101.44 103.21 95.32 107.09
February 2001 102.04 103.87 95.80 107.04
March 2001 102.50 104.38 96.28 107.09
April 2001 102.67 104.75 96.35 107.11
May 2001 102.64 104.86 95.10 107.36
June 2001 102.82 104.83 95.45 108.16
July 2001 103.17 105.02 96.09 108.66
August 2001 103.38 105.15 96.55 109.14
September 2001 103.70 105.34 96.63 109.29
October 2001 104.08 105.47 96.81 109.47
November 2001 104.46 105.11 97.14 109.67
December 2001 104.43 104.44 97.62 109.47
January 2002 104.85 105.29 98.47 108.83
February 2002 105.17 105.43 98.63 109.72
March 2002 105.56 105.57 98.71 110.51
April 2002 106.10 106.40 99.48 111.71
May 2002 106.89 107.15 100.30 112.11
June 2002 107.59 106.35 100.94 112.56
July 2002 108.43 106.62 101.65 113.08
August 2002 109.22 106.64 103.04 113.46
September 2002 109.75 107.46 103.23 113.92
October 2002 110.12 107.47 103.98 114.61
November 2002 110.52 108.13 104.82 114.64
December 2002 110.98 108.28 105.43 115.23
January 2003 111.58 108.40 106.17 116.31
February 2003 112.08 108.95 106.88 116.86
March 2003 112.60 109.69 107.21 117.77
April 2003 113.04 110.71 107.57 118.35
May 2003 113.60 111.52 108.17 118.94
June 2003 114.27 112.00 108.08 119.43
July 2003 114.98 112.56 107.79 120.17
August 2003 115.97 112.83 107.60 121.06
September 2003 116.93 113.45 107.86 121.74
October 2003 117.97 113.69 108.10 122.90
November 2003 118.96 114.96 108.82 123.44
December 2003 120.08 116.40 109.12 123.99
January 2004 121.49 117.56 109.61 125.47
February 2004 122.72 118.20 110.12 125.92
March 2004 124.18 118.33 109.16 126.36
April 2004 125.44 118.91 109.85 127.42
May 2004 126.82 119.23 111.26 128.29
June 2004 128.28 119.91 112.35 129.52
July 2004 129.57 120.55 112.94 130.49
August 2004 130.42 121.06 113.38 130.03
September 2004 131.48 121.98 113.64 132.20
October 2004 132.75 122.76 114.40 135.38
November 2004 134.06 123.33 114.38 138.06
December 2004 135.33 123.80 115.02 139.42
January 2005 137.17 124.35 115.72 142.10
February 2005 139.13 125.58 116.96 144.58
March 2005 141.59 127.74 116.93 148.31
April 2005 142.90 128.39 118.22 150.81
May 2005 144.18 128.46 118.73 153.41
June 2005 145.58 128.41 119.20 156.40
July 2005 146.73 128.16 118.99 157.71
August 2005 147.86 128.38 119.34 159.20
September 2005 149.02 129.19 121.12 160.73
October 2005 149.72 130.07 122.85 162.05
November 2005 150.46 130.83 122.89 162.35
December 2005 151.29 131.24 122.09 162.32
January 2006 152.27 132.25 122.10 163.21
February 2006 152.70 132.80 122.66 163.73
March 2006 153.28 133.08 122.68 163.36
April 2006 152.49 133.22 121.94 161.85
May 2006 151.50 133.54 122.03 160.00
June 2006 150.15 133.59 121.69 157.89
July 2006 148.99 133.11 121.79 155.47
August 2006 147.85 133.22 121.19 153.64
September 2006 147.38 132.97 120.88 151.70
October 2006 147.10 132.28 120.61 149.76
November 2006 146.68 132.18 121.42 148.86
December 2006 146.30 132.13 120.80 147.42
January 2007 144.93 131.53 120.98 146.72
February 2007 143.74 131.85 120.94 145.69
March 2007 142.41 131.50 119.54 143.78
April 2007 141.05 130.91 119.51 141.99
May 2007 139.33 130.51 119.50 139.86
June 2007 137.73 129.76 119.10 138.61
July 2007 136.12 129.15 118.73 137.35
August 2007 134.44 128.44 117.55 135.88
September 2007 132.86 127.53 116.91 134.87
October 2007 130.96 126.01 115.34 132.81
November 2007 129.03 125.19 113.45 130.62
December 2007 127.69 124.47 112.53 128.53
January 2008 125.83 123.59 111.97 126.22
February 2008 123.83 121.43 112.07 125.11
March 2008 121.68 118.46 111.14 123.21
April 2008 119.40 115.28 109.48 122.15
May 2008 117.49 113.09 107.83 119.91
June 2008 115.54 111.79 106.78 118.44
July 2008 113.67 109.40 106.27 117.08
August 2008 111.85 108.71 105.12 115.52
September 2008 109.99 108.00 104.47 113.78
October 2008 107.92 105.70 103.38 112.23
November 2008 105.87 103.68 102.12 110.30
December 2008 104.15 102.33 100.59 108.33
January 2009 101.49 100.87 99.33 105.07
February 2009 99.90 100.10 98.28 102.03
March 2009 98.67 99.03 97.16 101.08
April 2009 98.09 98.74 96.39 101.03
May 2009 98.09 99.10 96.44 100.69
June 2009 98.38 99.12 96.99 100.19
July 2009 98.75 99.12 97.36 100.00
August 2009 98.94 99.18 97.55 99.62
September 2009 99.04 99.23 98.08 99.50
October 2009 99.30 99.67 97.99 100.00
November 2009 99.79 100.06 99.30 100.46
December 2009 100.04 100.07 99.70 100.27
January 2010 100.00 100.00 100.00 100.00
February 2010 99.64 99.92 99.52 100.15
March 2010 99.87 99.88 99.44 100.42
April 2010 100.04 100.02 99.50 100.34
May 2010 99.85 99.80 99.07 100.23
June 2010 99.26 99.39 98.21 99.88
July 2010 98.52 98.63 97.53 99.18
August 2010 97.74 98.04 96.54 98.75
September 2010 96.97 97.52 95.71 98.17
October 2010 96.65 96.82 95.08 97.54
November 2010 96.26 96.59 95.06 97.80
December 2010 95.99 96.56 94.94 97.86
January 2011 95.42 95.96 94.71 97.56
February 2011 94.76 95.04 94.25 97.03
March 2011 93.92 94.43 92.90 96.73
April 2011 93.70 93.74 93.06 96.68
May 2011 93.38 93.41 92.38 95.88
June 2011 93.21 93.15 92.56 95.56
July 2011 93.22 92.86 92.01 95.67
August 2011 92.76 92.68 91.48 95.23
September 2011 92.59 92.90 91.19 94.80
October 2011 92.23 92.75 90.97 94.10
November 2011 91.81 92.90 90.98 93.59
December 2011 91.65 92.28 90.54 94.15
January 2012 91.91 92.28 90.43 95.40
February 2012 92.19 92.63 90.16 95.39
March 2012 92.66 93.21 90.38 95.41
April 2012 93.02 93.31 90.93 95.69
May 2012 93.51 92.88 91.06 96.43
June 2012 94.06 93.72 90.70 96.45
July 2012 94.53 94.27 91.75 97.11
August 2012 94.98 94.12 91.99 97.12
September 2012 95.34 94.49 91.88 97.35
October 2012 95.63 95.40 91.93 97.39
November 2012 96.33 96.07 91.63 98.24
December 2012 97.11 96.81 91.54 98.56
January 2013 97.70 98.40 91.52 99.49
February 2013 98.22 98.53 93.13 101.04
March 2013 99.36 99.18 93.40 101.79
April 2013 100.06 99.40 93.43 103.57
May 2013 100.87 99.37 93.52 105.11
June 2013 101.50 99.53 93.79 105.93
July 2013 102.19 99.73 93.93 106.15
August 2013 102.79 100.28 94.43 106.12
September 2013 103.55 100.89 94.95 106.26
October 2013 104.17 101.40 95.42 106.92
November 2013 104.74 101.67 95.60 107.38
December 2013 105.10 101.03 95.87 108.02
January 2014 105.54 101.95 97.00 108.73
February 2014 106.18 101.93 96.79 109.78
March 2014 106.76 102.10 96.93 111.20
April 2014 105.83 102.19 96.78 110.36
May 2014 105.63 102.45 97.66 110.12
June 2014 105.56 101.83 98.15 110.00
July 2014 105.58 101.68 98.39 110.47
August 2014 105.82 102.01 98.29 110.88
September 2014 106.09 102.58 97.69 110.61
October 2014 106.55 103.22 97.38 111.92
November 2014 106.87 103.74 97.83 111.58
December 2014 107.08 103.34 98.06 111.90
January 2015 107.05 103.02 97.96 111.81
February 2015 107.17 102.52 98.09 111.81
March 2015 108.16 102.60 97.75 113.40
April 2015 107.23 102.46 98.08 113.02
May 2015 107.13 102.47 97.39 113.32
June 2015 107.07 103.55 97.15 112.85
July 2015 106.88 104.20 97.28 113.10
August 2015 107.09 104.57 97.32 113.08
September 2015 107.52 104.92 97.81 113.52
October 2015 107.94 105.58 98.08 113.97
November 2015 108.39 106.02 98.48 114.53
December 2015 109.13 106.99 98.51 114.95
January 2016 110.26 108.11 99.36 115.90

Note: The data extend through January 2016. Percentiles are based on 25 metropolitan statistical areas.

Source: For house prices, CoreLogic; for rent data, Bureau of Labor Statistics.

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Figure 5. Regulatory capital ratios, all BHCs, 1997-2015

Quarterly, s.a.
Percent

Period Total capital ratio (Tier 1 + Tier 2) Common equity Tier 1 ratio Leverage ratio
1997:Q1 12.92 ND 7.33
1997:Q2 12.75 ND 7.30
1997:Q3 12.61 ND 7.17
1997:Q4 12.54 ND 7.11
1998:Q1 12.50 ND 7.09
1998:Q2 12.48 ND 7.11
1998:Q3 12.36 ND 7.08
1998:Q4 12.13 ND 6.89
1999:Q1 12.19 ND 7.02
1999:Q2 11.91 ND 6.96
1999:Q3 12.01 ND 7.04
1999:Q4 11.78 ND 7.05
2000:Q1 11.57 ND 6.87
2000:Q2 11.52 ND 6.77
2000:Q3 11.55 ND 6.75
2000:Q4 11.79 ND 6.77
2001:Q1 11.85 7.80 6.80
2001:Q2 11.93 7.95 6.80
2001:Q3 11.83 7.72 6.75
2001:Q4 11.94 7.76 6.67
2002:Q1 12.22 7.89 6.82
2002:Q2 12.35 8.00 6.84
2002:Q3 12.40 7.99 6.78
2002:Q4 12.29 7.89 6.70
2003:Q1 12.36 7.93 6.72
2003:Q2 12.30 7.91 6.75
2003:Q3 12.53 8.04 6.72
2003:Q4 12.57 8.06 6.84
2004:Q1 12.37 8.01 6.83
2004:Q2 12.22 7.93 6.64
2004:Q3 12.14 7.88 6.66
2004:Q4 12.19 7.94 6.58
2005:Q1 12.14 7.93 6.51
2005:Q2 12.06 7.88 6.54
2005:Q3 11.90 7.72 6.50
2005:Q4 11.84 7.71 6.49
2006:Q1 11.76 7.56 6.37
2006:Q2 11.75 7.46 6.28
2006:Q3 11.86 7.46 6.37
2006:Q4 11.88 7.51 6.41
2007:Q1 11.75 7.40 6.26
2007:Q2 11.64 7.09 6.05
2007:Q3 11.45 6.84 5.83
2007:Q4 11.27 6.41 5.58
2008:Q1 11.36 6.17 5.68
2008:Q2 11.75 6.02 5.93
2008:Q3 11.40 5.78 5.72
2008:Q4 12.87 5.56 6.90
2009:Q1 13.61 5.90 7.07
2009:Q2 13.97 6.68 7.23
2009:Q3 14.40 7.57 7.37
2009:Q4 14.18 8.18 7.24
2010:Q1 14.38 8.60 7.10
2010:Q2 14.82 8.91 7.20
2010:Q3 15.12 9.25 7.42
2010:Q4 15.26 9.69 7.64
2011:Q1 15.36 9.97 7.68
2011:Q2 15.42 10.07 7.58
2011:Q3 15.30 10.15 7.51
2011:Q4 15.40 10.51 7.73
2012:Q1 15.76 10.96 8.18
2012:Q2 15.57 11.04 8.07
2012:Q3 15.50 11.21 8.15
2012:Q4 15.68 11.41 8.28
2013:Q1 15.20 11.11 8.38
2013:Q2 15.31 11.27 8.43
2013:Q3 15.44 11.47 8.59
2013:Q4 15.45 11.62 8.65
2014:Q1 15.72 12.24 8.81
2014:Q2 14.97 11.69 8.93
2014:Q3 14.95 11.69 8.97
2014:Q4 14.97 11.72 9.03
2015:Q1 14.75 11.59 9.01
2015:Q2 15.05 11.74 9.15
2015:Q3 15.17 11.88 9.28
2015:Q4 15.00 11.88 9.36

Note: Prior to 2014:Q1, the numerator of the common equity Tier 1 ratio is Tier 1 common capital. Beginning in 2014:Q1 for advanced-approaches bank holding companies (BHCs) and in 2015:Q1 for all other BHCs, the numerator is common equity Tier 1 capital. The data for the common equity Tier 1 ratio start in 2001:Q1. An advanced-approaches BHC is defined as a large internationally active banking organization, generally with at least $250 billion in total consolidated assets or at least $10 billion in total on-balance-sheet foreign exposure. The shaded bars indicate periods of business recession as defined by the National Bureau of Economic Research: 2001:Q1-2001:Q4 and 2007:Q4-2009:Q2.

Source: Federal Reserve Board, FR Y-9C, Consolidated Financial Statements for Holding Companies.

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Figure 6. High-yield taxable bond mutual fund and ETF flows, 2007-15

Monthly
Billions of dollars

Period Mutual fund high-yield bonds Mutual fund high-yield bank loans ETF high-yield
January 2007 0.76 0.54 ND
February 2007 0.55 0.86 ND
March 2007 0.17 1.02 ND
April 2007 0.60 0.79 ND
May 2007 1.30 1.32 ND
June 2007 -2.53 1.54 ND
July 2007 -1.81 -2.24 ND
August 2007 -1.06 -2.09 ND
September 2007 0.91 -0.71 ND
October 2007 0.58 -0.29 ND
November 2007 -1.90 -1.42 ND
December 2007 0.05 -1.76 ND
January 2008 -1.41 -1.47 ND
February 2008 -0.09 -2.19 ND
March 2008 -0.89 -0.85 ND
April 2008 2.04 -0.38 ND
May 2008 1.44 -0.05 ND
June 2008 -0.97 0.09 ND
July 2008 -0.10 -0.29 ND
August 2008 0.29 -0.35 ND
September 2008 -0.28 -0.92 ND
October 2008 -1.09 -1.04 ND
November 2008 -0.04 -0.48 ND
December 2008 2.90 -0.26 ND
January 2009 2.89 0.37 ND
February 2009 0.55 0.55 ND
March 2009 2.05 0.05 ND
April 2009 3.74 0.62 ND
May 2009 3.45 0.90 ND
June 2009 0.78 0.64 ND
July 2009 1.81 0.46 ND
August 2009 0.59 0.11 ND
September 2009 1.12 0.23 ND
October 2009 0.41 -0.02 ND
November 2009 0.21 -0.08 ND
December 2009 0.42 0.53 ND
January 2010 0.80 0.92 ND
February 2010 -2.73 0.94 ND
March 2010 3.00 1.58 ND
April 2010 1.47 2.03 ND
May 2010 -6.99 0.79 ND
June 2010 0.20 -0.09 ND
July 2010 2.39 0.36 ND
August 2010 1.19 0.51 ND
September 2010 3.20 1.22 ND
October 2010 1.71 1.13 ND
November 2010 -1.33 1.75 ND
December 2010 1.38 3.91 ND
January 2011 3.77 5.54 1.08
February 2011 2.66 4.87 0.46
March 2011 -0.75 3.97 0.44
April 2011 1.20 3.17 0.40
May 2011 1.30 2.72 0.37
June 2011 -6.02 0.97 -0.75
July 2011 1.86 0.17 0.93
August 2011 -5.20 -7.36 -0.43
September 2011 1.01 -1.65 1.11
October 2011 9.38 -0.72 1.97
November 2011 -1.54 -0.76 0.03
December 2011 3.76 -0.76 1.66
January 2012 5.88 0.03 3.87
February 2012 5.15 -0.31 2.34
March 2012 2.92 0.59 0.73
April 2012 2.03 1.32 0.74
May 2012 -2.20 -0.03 -1.43
June 2012 1.36 -0.22 0.33
July 2012 5.19 0.84 2.03
August 2012 3.87 1.01 0.91
September 2012 2.10 1.67 1.82
October 2012 0.98 2.05 -0.54
November 2012 -3.21 1.83 -0.09
December 2012 -0.44 1.83 0.15
January 2013 2.25 4.02 0.67
February 2013 -1.00 5.26 -0.26
March 2013 0.40 5.66 1.28
April 2013 0.66 4.53 1.67
May 2013 -1.66 4.52 -0.25
June 2013 -12.10 5.74 -1.49
July 2013 3.89 7.86 2.92
August 2013 -3.33 7.42 -0.59
September 2013 3.82 5.16 2.46
October 2013 2.42 2.87 2.55
November 2013 0.86 3.28 0.39
December 2013 -0.14 3.28 -0.36
January 2014 0.03 3.52 -0.44
February 2014 1.61 2.02 1.34
March 2014 0.99 1.37 1.13
April 2014 0.92 -0.75 -0.05
May 2014 0.99 -1.72 1.19
June 2014 -1.71 -3.18 0.01
July 2014 -9.31 -2.08 -3.45
August 2014 -4.15 -3.88 0.66
September 2014 -7.47 -3.43 -0.58
October 2014 1.66 -5.27 1.72
November 2014 2.95 -1.74 0.53
December 2014 -8.56 -7.10 -0.78
January 2015 2.22 -4.09 1.41
February 2015 5.57 -0.88 3.79
March 2015 -2.58 -1.39 -0.56
April 2015 0.85 -0.26 0.31
May 2015 -0.03 0.26 -1.01
June 2015 -4.95 -1.75 -3.53
July 2015 -2.94 -0.57 1.00
August 2015 -2.69 -2.75 -1.08
September 2015 -2.01 -1.84 -1.07
October 2015 4.43 -1.48 5.55
November 2015 -3.48 -1.70 -0.97
December 2015 -8.76 -6.17 -2.06

Note: The data for exchange-traded fund (ETF) high-yield flows start in January 2011.

Source: Investment Company Institute (ICI), www.ici.org.

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Figure 7. Ratio of nonfinancial-sector credit to GDP, 1980-2015

Quarterly
Ratio

Period Business Household Total
1980:Q1 0.49 0.48 0.97
1980:Q2 0.50 0.48 0.98
1980:Q3 0.50 0.48 0.98
1980:Q4 0.49 0.47 0.96
1981:Q1 0.48 0.46 0.94
1981:Q2 0.49 0.47 0.96
1981:Q3 0.50 0.46 0.96
1981:Q4 0.51 0.46 0.97
1982:Q1 0.52 0.47 0.99
1982:Q2 0.52 0.47 0.99
1982:Q3 0.53 0.47 1.00
1982:Q4 0.53 0.47 1.00
1983:Q1 0.53 0.46 1.00
1983:Q2 0.53 0.46 0.99
1983:Q3 0.53 0.46 0.99
1983:Q4 0.53 0.46 0.99
1984:Q1 0.53 0.46 0.99
1984:Q2 0.54 0.47 1.00
1984:Q3 0.55 0.47 1.01
1984:Q4 0.56 0.48 1.03
1985:Q1 0.56 0.49 1.05
1985:Q2 0.57 0.50 1.07
1985:Q3 0.57 0.50 1.07
1985:Q4 0.58 0.52 1.10
1986:Q1 0.58 0.53 1.11
1986:Q2 0.59 0.53 1.13
1986:Q3 0.60 0.54 1.15
1986:Q4 0.61 0.55 1.17
1987:Q1 0.62 0.55 1.17
1987:Q2 0.62 0.56 1.18
1987:Q3 0.62 0.56 1.19
1987:Q4 0.62 0.56 1.18
1988:Q1 0.63 0.56 1.19
1988:Q2 0.63 0.56 1.19
1988:Q3 0.63 0.57 1.20
1988:Q4 0.63 0.57 1.20
1989:Q1 0.63 0.57 1.20
1989:Q2 0.63 0.57 1.20
1989:Q3 0.63 0.57 1.20
1989:Q4 0.63 0.58 1.21
1990:Q1 0.63 0.58 1.21
1990:Q2 0.62 0.59 1.21
1990:Q3 0.62 0.59 1.21
1990:Q4 0.63 0.60 1.23
1991:Q1 0.62 0.60 1.22
1991:Q2 0.61 0.60 1.21
1991:Q3 0.60 0.60 1.20
1991:Q4 0.59 0.61 1.19
1992:Q1 0.58 0.60 1.18
1992:Q2 0.57 0.60 1.17
1992:Q3 0.56 0.60 1.16
1992:Q4 0.55 0.60 1.15
1993:Q1 0.55 0.60 1.15
1993:Q2 0.55 0.60 1.15
1993:Q3 0.55 0.61 1.15
1993:Q4 0.54 0.61 1.15
1994:Q1 0.54 0.61 1.15
1994:Q2 0.54 0.61 1.15
1994:Q3 0.54 0.61 1.15
1994:Q4 0.54 0.62 1.15
1995:Q1 0.54 0.62 1.16
1995:Q2 0.55 0.63 1.17
1995:Q3 0.55 0.63 1.18
1995:Q4 0.55 0.63 1.18
1996:Q1 0.55 0.64 1.19
1996:Q2 0.54 0.64 1.18
1996:Q3 0.55 0.64 1.18
1996:Q4 0.54 0.64 1.18
1997:Q1 0.54 0.64 1.18
1997:Q2 0.54 0.64 1.18
1997:Q3 0.55 0.64 1.19
1997:Q4 0.55 0.64 1.19
1998:Q1 0.56 0.64 1.21
1998:Q2 0.57 0.65 1.23
1998:Q3 0.58 0.65 1.23
1998:Q4 0.58 0.65 1.23
1999:Q1 0.59 0.66 1.25
1999:Q2 0.60 0.66 1.26
1999:Q3 0.61 0.67 1.27
1999:Q4 0.61 0.67 1.27
2000:Q1 0.62 0.68 1.29
2000:Q2 0.62 0.67 1.29
2000:Q3 0.62 0.68 1.31
2000:Q4 0.63 0.69 1.32
2001:Q1 0.63 0.70 1.33
2001:Q2 0.63 0.70 1.34
2001:Q3 0.64 0.73 1.37
2001:Q4 0.64 0.73 1.37
2002:Q1 0.64 0.74 1.38
2002:Q2 0.64 0.75 1.38
2002:Q3 0.63 0.76 1.39
2002:Q4 0.63 0.77 1.41
2003:Q1 0.63 0.79 1.41
2003:Q2 0.62 0.81 1.43
2003:Q3 0.61 0.81 1.42
2003:Q4 0.60 0.82 1.42
2004:Q1 0.61 0.83 1.43
2004:Q2 0.60 0.84 1.44
2004:Q3 0.60 0.84 1.45
2004:Q4 0.60 0.86 1.46
2005:Q1 0.60 0.86 1.46
2005:Q2 0.60 0.88 1.48
2005:Q3 0.60 0.88 1.49
2005:Q4 0.61 0.89 1.50
2006:Q1 0.61 0.90 1.52
2006:Q2 0.62 0.92 1.54
2006:Q3 0.62 0.93 1.56
2006:Q4 0.64 0.94 1.58
2007:Q1 0.65 0.95 1.59
2007:Q2 0.66 0.95 1.61
2007:Q3 0.67 0.96 1.63
2007:Q4 0.69 0.96 1.65
2008:Q1 0.70 0.98 1.68
2008:Q2 0.71 0.96 1.67
2008:Q3 0.72 0.97 1.68
2008:Q4 0.73 0.96 1.70
2009:Q1 0.74 0.96 1.70
2009:Q2 0.73 0.97 1.70
2009:Q3 0.72 0.96 1.68
2009:Q4 0.70 0.94 1.64
2010:Q1 0.69 0.93 1.62
2010:Q2 0.67 0.92 1.59
2010:Q3 0.67 0.90 1.57
2010:Q4 0.66 0.89 1.54
2011:Q1 0.66 0.89 1.54
2011:Q2 0.65 0.87 1.52
2011:Q3 0.65 0.85 1.51
2011:Q4 0.65 0.84 1.49
2012:Q1 0.65 0.83 1.48
2012:Q2 0.65 0.83 1.48
2012:Q3 0.65 0.82 1.47
2012:Q4 0.66 0.82 1.48
2013:Q1 0.66 0.81 1.48
2013:Q2 0.67 0.81 1.48
2013:Q3 0.67 0.81 1.47
2013:Q4 0.67 0.80 1.46
2014:Q1 0.67 0.80 1.47
2014:Q2 0.67 0.79 1.47
2014:Q3 0.67 0.79 1.46
2014:Q4 0.68 0.79 1.47
2015:Q1 0.69 0.79 1.48
2015:Q2 0.70 0.78 1.48
2015:Q3 0.70 0.78 1.48
2015:Q4 0.70 0.78 1.49

Note: GDP is gross domestic product. The shaded bars indicate periods of business recession as defined by the National Bureau of Economic Research: 1980:Q1-1980:Q3, 1981:Q3-1982:Q4, 1990:Q3-1991:Q1, 2001:Q1-2001:Q4, and 2007:Q4-2009:Q2.

Source: Federal Reserve Board, Statistical Release Z.1, "Financial Accounts of the United States."

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Figure 8. Gross leverage for investment-grade and speculative-grade firms, 1999-2015

Quarterly
Percent of assets

Period Investment-grade Speculative-grade
1999:Q1 28.37 39.80
1999:Q2 28.12 39.53
1999:Q3 28.19 38.75
1999:Q4 28.19 38.46
2000:Q1 28.18 38.00
2000:Q2 27.59 37.34
2000:Q3 27.43 36.27
2000:Q4 27.50 36.83
2001:Q1 27.08 38.26
2001:Q2 26.89 39.17
2001:Q3 27.06 38.31
2001:Q4 27.77 39.37
2002:Q1 28.51 39.64
2002:Q2 27.83 38.12
2002:Q3 27.49 37.99
2002:Q4 27.03 38.12
2003:Q1 26.68 37.93
2003:Q2 25.59 37.90
2003:Q3 25.22 36.91
2003:Q4 23.96 36.64
2004:Q1 23.91 35.34
2004:Q2 23.28 34.85
2004:Q3 22.68 35.01
2004:Q4 22.51 34.23
2005:Q1 22.47 34.24
2005:Q2 22.40 32.71
2005:Q3 21.73 31.51
2005:Q4 21.60 32.22
2006:Q1 21.93 33.06
2006:Q2 21.93 32.82
2006:Q3 21.80 33.03
2006:Q4 21.32 34.49
2007:Q1 21.37 35.10
2007:Q2 21.76 34.72
2007:Q3 21.90 35.53
2007:Q4 22.29 35.53
2008:Q1 22.50 36.21
2008:Q2 22.54 35.95
2008:Q3 23.09 38.14
2008:Q4 24.45 40.13
2009:Q1 25.13 40.70
2009:Q2 24.67 38.80
2009:Q3 23.96 36.92
2009:Q4 23.34 37.22
2010:Q1 23.49 36.51
2010:Q2 23.40 36.52
2010:Q3 23.10 36.22
2010:Q4 22.88 35.78
2011:Q1 22.89 35.67
2011:Q2 22.91 35.76
2011:Q3 23.44 35.69
2011:Q4 23.34 35.18
2012:Q1 23.31 35.61
2012:Q2 23.90 36.47
2012:Q3 23.94 36.72
2012:Q4 23.93 37.62
2013:Q1 24.13 37.31
2013:Q2 23.95 38.04
2013:Q3 24.37 37.99
2013:Q4 24.45 38.47
2014:Q1 25.15 39.01
2014:Q2 25.15 38.51
2014:Q3 25.39 38.40
2014:Q4 25.91 39.40
2015:Q1 26.79 39.86
2015:Q2 27.61 40.03
2015:Q3 27.92 41.32

Note: The data extend through 2015:Q3. Gross leverage is the ratio of the book value of total debt to total assets. For S&P, all rights reserved. For intended recipient only. No further distribution and/or reproduction permitted.

Source: Compustat North America © 2015 Standard & Poor's Financial Services LLC ("S&P").

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Supervision and Regulation



Figure A. Insurance company assets by portfolio In thousands

In thousands of dollars

Assets
Nonbank Insurance Companies (3 firms) 2,139,000,000
$10-$50 billion (4 firms) 892,000,000
Greater than $50 billion (4 firms) 77,000,000
Less than $10 billion (4 firms) 20,000,000

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Federal Reserve Banks



Figure 1. Aggregate daylight overdrafts, 2007-15

Billions of dollars

Period Average daylight overdrafts Peak daylight overdrafts
2007:Q1 57 153
2007:Q2 57 149
2007:Q3 62 161
2007:Q4 66 170
2008:Q1 69 180
2008:Q2 71 187
2008:Q3 65 175
2008:Q4 40 131
2009:Q1 13 65
2009:Q2 10 52
2009:Q3 11 59
2009:Q4 6 46
2010:Q1 5 46
2010:Q2 6 58
2010:Q3 7 69
2010:Q4 7 64
2011:Q1 4 56
2011:Q2 1 35
2011:Q3 1 11
2011:Q4 1 15
2012:Q1 2 29
2012:Q2 3 24
2012:Q3 2 11
2012:Q4 2 13
2013:Q1 3 24
2013:Q2 2 9
2013:Q3 2 11
2013:Q4 1 6
2014:Q1 2 10
2014:Q2 2 9
2014:Q3 2 8
2014:Q4 1 6
2015:Q1 1 5
2015:Q2 1 4
2015:Q3 1 6
2015:Q4 1 6

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Federal Reserve System Budgets



Figure 1. Distribution of budgeted expenses of the Federal Reserve System, 2016

Percent
Reserve Banks 73.6
Board of Governors 13.2
Currency 13.2

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Figure 2. Total expenses of the Federal Reserve System, 2006-16

Year Current dollars 2009 dollars1
2006 3.561 3.786
2007 3.883 4.027
2008 3.872 3.884
2009 4.041 4.041
2010 4.243 4.185
2011 4.364 4.216
2012 4.696 4.444
2013 4.850 4.517
2014 5.050 4.636
2015 5.345 4.817
2016 5.595 4.978

Note: For 2016, budgeted. Includes expenses of the OIG.

1. Calculated with the GDP price deflator. Return to table

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Figure 3. Cumulative change in Federal Reserve System expenses and federal government expenses, 2006-16

Year Federal government1 Federal Reserve2
2006 0 0.000
2007 -0.604 9.053
2008 5.174 8.755
2009 16.932 13.503
2010 32.535 19.173
2011 30.401 22.552
2012 23.938 31.875
2013 16.046 36.220
2014 17.214 41.842
2015 12.241 47.079
2016 13.388 57.143

Note: For 2016, budgeted. Federal government expenses are reported on a fiscal-year basis beginning October 1; the Federal Reserve System expenses are reported on a calendar-year basis.  

1. Discretionary spending less expenditures on defense. Source: Budget of the United States Government, Fiscal Year 2015: Historical Tables, Table 8.1. Outlays by Budget Enforcement Act Category, 1962–2019.  Return to table

2. Includes expenses of the OIG.  Return to table

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Figure 4. Employment in the Federal Reserve System, 2006-16

Thousands of persons

Year Number of persons
2006 21691
2007 21463
2008 20745
2009 20049
2010 19669
2011 20016
2012 20768
2013 21392
2014 21489
2015 21811
2016 22343

Note: For 2016, budgeted. Employment numbers presented include position counts for the Board and average number of personnel (ANP) for the Reserve Banks.

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Figure 5. Federal Reserve costs for currency, 2006-16

Year Millions of dollars
2006 489
2007 576
2008 500
2009 502
2010 623
2011 650
2012 721
2013 717
2014 707
2015 689
2016 737

Note: For 2016, budgeted.

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Last update: July 20, 2016

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