[Economic Report of the President (1999)]
[Administration of William J. Clinton]
[Online through the Government Printing Office, www.gpo.gov]



GOVERNMENT FINANCE


[[Page 430]]


Table B-89.--Estimated ownership of public debt securities by private investors, 1978-98
[Par values;\1\ billions of dollars]
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Held by private investors
----------------------------------------------------------------------------------------------------------------------
Nonbank investors
--------------------------------------------------------------------------------------------------
End of month                        Com-                    Individuals\3\                                        State
Total     mer-             ---------------------------              Money     Corp-      and     Foreign     Other
cial      Total                      Other   Insurance   market     ora-      local      and      inves-
banks\2\             Total   Savings  securi-  companies    funds   tions\5\   govern-   interna-   tors\8\
bonds\4\    ties                                  ments\6\  tional\7\
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1978:June........................     477.8      99.6     378.2   109.0      79.1     29.9      14.2        1.3      17.3      82.6      119.5      34.3
Dec..........................     508.6      95.3     413.3   114.0      80.7     33.3      15.3        1.5      17.3      93.1      133.1      39.0

1979:June........................     516.6      94.6     422.0   115.5      80.6     34.9      16.0        3.8      18.6     102.7      114.9      50.5
Dec..........................     540.5      95.6     444.9   118.0      79.9     38.1      15.6        5.6      17.0     100.2      119.0      69.5

1980:June........................     558.2      98.5     459.7   116.5      73.4     43.1      15.3        5.3      14.0     100.1      118.2      90.3
Dec..........................     616.4     111.5     504.9   117.1      72.5     44.6      18.1        3.5      19.3     114.2      129.7     103.0

1981:June........................     651.2     115.0     536.2   107.4      69.2     38.2      19.9        9.0      19.9     128.1      136.6     115.3
Dec..........................     694.5     113.8     580.7   110.8      68.1     42.7      21.6       21.5      17.9     135.9      136.6     136.4

1982:June........................     740.9     114.7     626.2   114.1      67.4     46.7      24.4       22.4      17.6     157.9      137.2     152.6
Dec..........................     848.4     134.0     714.4   116.5      68.3     48.2      30.6       42.6      24.5     163.2      149.5     187.5

1983:June........................     948.6     167.4     781.2   121.3      69.7     51.6      37.8       28.3      32.8     183.9      160.1     217.0
Dec..........................   1,022.6     179.5     843.1   133.4      71.5     61.9      46.0       22.8      39.7     198.1      166.3     236.8

1984:June........................   1,102.2     180.6     921.6   142.2      72.9     69.3      51.2       14.9      45.3     218.8      171.6     277.6
Dec..........................   1,212.5     181.5   1,031.0   143.8      74.5     69.3      64.5       25.9      50.1     233.9      205.9     306.9

1985:June........................   1,292.0     195.6   1,096.4   148.7      76.7     72.0      69.1       24.8      54.9     267.7      213.8     317.4
Dec..........................   1,417.2     189.4   1,227.8   154.8      79.8     75.0      80.5       25.1      59.0     341.6      224.8     342.0

1986:June........................   1,502.7     194.4   1,308.3   159.5      83.8     75.7      87.9       22.8      61.2     381.2      250.9     344.8
Dec..........................   1,602.0     197.7   1,404.3   162.7      92.3     70.4     101.6       28.6      68.8     418.6      263.4     360.6

1987:June........................   1,658.1     192.5   1,465.6   165.6      96.8     68.8     104.7       20.6      79.7     464.4      281.1     349.5
Dec..........................   1,731.4     194.4   1,537.0   172.4     101.1     71.3     108.1       14.6      84.6     478.3      299.7     379.3

1988:June........................   1,786.7     190.8   1,595.9   182.0     106.2     75.8     113.5       13.4      87.6     482.8      345.4     371.2
Dec..........................   1,858.5     185.3   1,673.2   190.4     109.6     80.8     118.6       11.8      86.0     488.1      362.2     416.1

1989:June........................   1,909.1     178.4   1,730.7   211.7     114.0     97.7     120.6       11.3      91.0     482.6      369.1     444.4
Dec..........................   2,015.8     165.3   1,850.5   216.4     117.7     98.7     123.9       14.9      93.4     493.9      429.6     478.4

1990:June........................   2,141.8     177.3   1,964.5   229.6     121.9    107.7     133.7       28.0      96.9     545.2      427.3     503.8
Dec..........................   2,288.3     172.1   2,116.2   233.8     126.2    107.6     138.2       45.5     108.9     550.3      458.4     581.1

1991:June........................   2,397.9     196.2   2,201.7   243.5     133.2    110.3     156.8       55.2     130.8     565.9      473.6     575.8
Dec..........................   2,563.2     232.5   2,330.7   263.9     138.1    125.8     181.8       80.0     150.8     583.0      491.7     579.5

1992:June........................   2,712.4     267.0   2,445.4   275.1     145.4    129.7     192.8       79.4     175.0     576.8      529.6     616.7
Dec..........................   2,839.9     294.4   2,545.5   289.2     157.3    131.9     197.5       79.7     192.5     566.0      549.7     670.9

1993:June........................   2,936.3     307.2   2,629.1   303.0     166.5    136.4     217.8       76.2     206.1     594.7      567.7     663.6
Dec..........................   3,047.4     322.2   2,725.2   309.9     171.9    137.9     234.5       80.8     213.0     610.8      622.9     653.4

1994:Mar.........................   3,094.6     344.4   2,750.2   315.1     175.0    140.1     233.4       69.3     216.3     614.4      633.3     668.3
June.........................   3,088.2     330.1   2,758.1   321.1     177.1    144.0     238.0       59.9     226.3     595.9      633.2     683.7
Sept.........................   3,127.8     313.2   2,814.6   327.2     178.6    148.6     243.7       59.9     229.3     567.7      655.8     731.0
Dec..........................   3,168.0     290.4   2,877.6   331.1     180.5    150.7     240.1       67.6     224.5     541.0      640.7     832.6

1995:Mar.........................   3,239.2     308.1   2,931.1   342.7     181.4    161.4     244.2       67.7     230.3     531.7      681.2     833.2
June.........................   3,245.0     298.4   2,946.6   344.2     182.6    161.6     245.0       58.7     227.7     488.6      736.3     846.1
Sept.........................   3,279.5     289.4   2,990.1   345.9     183.5    162.4     245.2       64.2     224.1     480.2      800.4     830.1
Dec..........................   3,294.9     278.7   3,016.2   347.7     185.0    162.7     241.5       71.5     228.8     465.6      814.2     846.9

1996: Mar........................   3,382.8     284.0   3,098.8   347.2     185.8    161.4     239.4       85.7     229.0     464.8      888.7     844.0
June.........................   3,347.3     280.2   3,067.1   347.6     186.5    161.1     229.5       82.4     230.9     474.3      912.3     790.1
Sept.........................   3,386.2     275.0   3,111.2   353.7     186.8    167.0     226.8       85.2     249.1     453.2      978.1     765.1
Dec..........................   3,411.2     261.8   3,149.4   356.6     187.0    169.6     214.1       91.6     258.5     447.5    1,087.6     693.5

1997: Mar........................   3,451.7     282.3   3,169.4   355.4     186.5    168.9     182.1       84.2     262.5     443.1    1,144.2     697.8
June.........................   3,361.7     265.9   3,095.8   355.4     186.3    169.1     183.5       77.4     261.0     441.3    1,172.9     604.3
Sept.........................   3,388.9     261.8   3,127.1   354.8     186.2    168.6     187.3       75.8     266.5     446.8    1,218.2     577.7
Dec..........................   3,393.4     270.3   3,123.1   354.9     186.5    168.4     176.6       88.9     265.0     444.1    1,230.6     563.0

1998: Mar........................   3,430.7     278.6   3,152.1   352.1     186.3    165.8     182.2       84.8     268.1     444.8    1,240.3     579.8
June.........................   3,330.6     263.7   3,066.9   351.1     186.0    165.0     185.0       82.7     267.2     464.7    1,248.6     467.7
Sept.........................   3,301.0     260.0   3,041.0   352.3     186.0    166.4     188.0       84.2     271.4     469.0    1,217.2     458.9
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\1\U.S. savings bonds, series A-F and J, are included at current redemption value.
\2\Includes domestically chartered banks, U.S. branches and agencies of foreign banks, New York investment companies majority owned by foreign banks,
and Edge Act corporations owned by domestically chartered banks, foreign banks, and banks in U.S. affiliated territories.
\3\Includes partnerships and personal trust accounts.
\4\Includes U.S. savings notes. Sales began May 1, 1967, and were discontinued June 30, 1970.
\5\Exclusive of banks and insurance companies.
\6\This category includes nonmarketable State and local government series, Treasury securities, and holdings of State and local pension and other funds.
\7\Consists of the investments of foreign and international accounts (both official and private) in U.S. public debt issues. Reflects 1978 benchmark
through December 1984; December 1984 benchmark through December 1989; December 1989 benchmark to December 1994; and December 1994 benchmark
thereafter.
\8\Includes savings and loan associations, credit unions, nonprofit institutions, mutual savings banks, corporate pension trust funds, dealers and
brokers, certain Government deposit accounts, and Government-sponsored enterprises.

Source: Department of the Treasury.