Comparison of Published Indicators Relating to Foreign Official Holdings Denominated in Dollars

Federal Reserve H.4.1 - Memo to Table 1 (1)
Frequency Instruments included Held by FRBNY Treasury securities Agencies Deposits Earmarked gold Held by other U.S. institutions Treasury securities Other debt securities Equities Other Liabilities (including deposits) of U.S. banks Held by non-U.S. institutions Securities of U.S. issuers Securities of non- U.S. issuers, including int’l orgs Deposits held at non-U.S. banks Line items reported Weekly

Federal Reserve Table 3.13 (2)
Monthly

Annual Liabilities Survey Table 10 (3)
Annually

Treasury website Major Foreign Holders Table (4)
Monthly

Treasury Bulletin Table IFS.2 (5)
Quarterly

Federal Reserve Table 3.15 (6)
Monthly

BEA SCB Table 4 & BEA website with IIP revision (7)
Quarterly

BIS Annual Report Table V.2 (8)
Annually

IMF SEFER Survey Table 6 (9)
Annually

Marketable only Marketable only -------------

Yes --Yes Yes ---------

Long-term only Long-term only ----Long-term only Long-term only Yes ---

Yes ------Yes -------

Yes Yes ----Yes Yes No Yes

Yes Yes ----Yes Yes Yes Yes

Yes Yes ----Yes Yes Yes Yes

Yes Yes

----Yes Yes If reserves Yes

Yes Yes ----Yes Yes If reserves ---

------Marketable Treasury bills, notes & bonds Marketable agencies Total of above

------Treasury bills, notes & bonds Deposits at FRBNY agencies Earmarked gold

------Treasury notes and bonds Long-term agency debt Equities

------Treasury bills

------Liabilities reported by U.S. banks Marketable Treasury notes & bonds Non-marketable Treasury notes & bonds Other marketable liabilities (incl. Agencies)

------Liabilities reported by U.S. banks Treasury bills

------U.S. Treasury securities and breakdown Other U.S. Government securities Other U.S. Government liabilities U.S. liabilities reported by banks (not incl. elsewhere) and breakdown Other foreign official assets Total of above

Yes Yes Yes Overall total only

Yes ----Overall total only

Treasury notes & bonds Total of above

Treasury notes & bonds Other securities

Long-term corporate and municipal debt

Total of above

Total of above

Total of above

Comparison of Published Indicators Relating to Foreign Official Holdings Denominated in Dollars (continued)
Treasury website Major Foreign Holders Table (4)
Governments Central banks BIS, ECB Government investment funds

Federal Reserve H.4.1 - Memo to Table 1 (1)
Governments Counterpart definition Central banks Small number of international organizations incl. IMF and BIS Small number of government investment funds Valuation Face value

Federal Reserve Table 3.13 (2)
Governments Central banks Small number of government investment funds

Annual Liabilities Survey Table 10 (3)
Governments Central banks BIS, ECB Government investment funds

Treasury Bulletin Table IFS.2 (5)
Governments Central banks BIS, ECB Government investment funds

Federal Reserve Table 3.15 (6)
Governments Central banks BIS, ECB Government investment funds

BEA SCB Table 4 & BEA website with IIP revision (7)
Governments Central banks BIS, ECB Government investment funds

BIS Annual Report Table V.2 (8)
National monetary authorities

IMF SEFER Survey Table 6 (9)
Undisclosed list of monetary authorities

Face value for securities, gold at $42.22/oz. Legal ownership

Market value

Estimate; no valuation adjustment Economic ownership

Estimate; no valuation adjustment Economic ownership

Estimate; no valuation adjustment Economic ownership

Estimate; includes valuation adjustment Economic ownership

Market value

Market value

Ownership Criterion

Legal ownership

Economic ownership

Assets readily available to monetary authorities $2,093

Assets readily available to monetary authorities $827 (2002)

Total as of 12/31/2003 (billions)

$1,067

$854

$959 (6/30/03)

$894

$1,285

$1,369

$1,343 revised to $1,474

Comparison of Published Indicators Relating to Foreign Official Holdings Denominated in Dollars (continued)
IMF Annual Report CCOFER Table 1.3 (10)
Frequency Instruments included Held by FRBNY Treasury securities Agencies Deposits Earmarked gold Held by other U.S. institutions Treasury securities Other debt securities Equities Other Liabilities (including deposits) of U.S. banks Held by non-U.S. institutions Securities of U.S. issuers Securities of non- U.S. issuers, including int’l orgs Deposits held at non-U.S. banks Line items reported Annually

Federal Reserve Flow of Funds – Z.1 (11)
Quarterly

Yes Yes ----Yes Yes If reserves Yes

Yes Yes -------------

Yes Yes Yes Overall total only

------Treasury bills, notes & bonds Agency securities

Comparison of Published Indicators Relating to Foreign Official Holdings Denominated in Dollars (continued)
IMF Annual Report CCOFER Table 1.3 (10)
Undisclosed list of monetary authorities

Federal Reserve Flow of Funds – Z.1 (11)
Governments Central banks BIS, ECB Government investment funds

Counterpart definition

Valuation

Market value

Estimate; includes valuation adjustment Economic ownership

Ownership Criterion

Assets readily available to monetary authorities $1,428 (2002)

Total as of 12/31/2003 (billions)

$1,051