Total Correspondent Balances at All Commercial Banks

Listed by component balances for the four quarters ended June 30, 1994, compared with June 30, 1993 and June 30, 1992 (dollar amounts in millions) +++ Set 1 of 3 Domestically-booked demand deposits due to: 4Q94 Avg. 1. U.S. commercial banks 23,029 2. Other U.S. depository institutions (thrifts) 3,612 3. Other banks in foreign countries 6,008 4. Foreign government and official institutions 758 Avg. domestic-booked correspondent balances (1+2+3+4) 33,406

Percent change in domestic correspondent balances -8.90% 5. Edge bank clearing balances on June 30 939

Total correspondent balances (1+2+3+4+5) 34,345

Percent change in total correspondent balances -10.50% Average rate on 90-day Treasury bills 3.32% Set 2 of 3 Domestically-bo 6/30/94 3/31/94 12/31/93 9/30/93 4Q93 Avg. 1. U.S. commerc 20,844 21,626 25,525 24,121 25,558 2. Other U.S. d 3,073 3,717 4,012 3,645 4,128 3. Other banks 6,125 6,191 5,928 5,789 6,130 4. Foreign gove 743 757 766 765 831 Avg. domestic-b 30,785 32,290 36,231 34,319 36,657

Percent chan -5.10% 5. Edge bank cl 1,716

Total corres 38,363

Percent chan -5.50% Average rate on 3.99% 3.24% 3.06% 3.00% 3.02% Set 3 of 3 Domestically-bo 6/30/93 3/31/93 12/31/92 9/30/92 4Q92Avg. 1. U.S. commerc 25,677 23,969 27,374 25,210 27,322 2. Other U.S. d 4,123 3,900 4,496 3,995 4,255 3. Other banks 6,027 35,758 6,052 6,683 6,139 4. Foreign gove 830 772 758 967 894 Avg. domestic-b 36,656 34,398 38,680 36,854 38,609

Percent chan 5.30% 5. Edge bank cl 2,001

Total corre 40,610

Percent chan 4.80% Average rate on 2.97% 2.96% 3.07% 3.08% 4.37% === Data Sources: All deposit data are from the regulatory reports of condition for commercial banks (Schedule E) and Edge banks (Schedule C) Treasury bill rates are from The Bulletin and the H. 15 Release published by the Federal Reserve Board, Washington, D.C. The 90-day Treasury bill rate is generally used by correspondent bankers to value correspondent balances and is referred to as the earnings credit factor.The rates shown are on a discount basis as reported in the secondary market. Compiled by American Banker, 1995.