Board of Governors of the Federal Reserve System

Data on this H.8 release have been benchmarked through the September 2024 Call Report. Data on the previous release were benchmarked through the June 2024 Call Report. The release also incorporates revisions to underlying data.

An Initial Federal Reserve Notice requesting public comment has been published detailing proposed changes to the FR 2644 data collection. The H.8 release is primarily based on the data collected through the FR 2644 reporting form. Please see the H.8 release's About page for more information about the relationship between the FR 2644 report and the H.8 release.

Domestically chartered commercial banks divested $10.9 billion in assets and liabilities to nonbank institutions in the week ending October 30, 2024. The major asset items affected were the following: Treasury and agency securities, non-MBS, $2.0 billion; consumer loans, other consumer loans, all other consumer loans, -$10.9 billion; and cash assets, $8.9 billion.

Data on this H.8 release have been benchmarked through the June 2024 Call Report. Data on the previous release were benchmarked through the March 2024 Call Report. The release also incorporates revisions to underlying data. Also effective with this release, historical data between July 1, 2009, and March 30, 2022 have been adjusted to align with a previous reporting change. As of April 6, 2022, U.S. agencies and branches of foreign banks no longer reported consumer loans separately on the H.8 release, but included them in all other loans and leases, all loans not elsewhere classified, consistent with FFIEC 002 Call Report treatment of these loans. The historical data adjustments are accompanied by minor series name changes for two items: consumer loans, other consumer loans, all other consumer loans; and all other loans and leases, all loans not elsewhere classified.

Effective with the forthcoming release dated September 27, 2024, with data as of September 18, 2024, data on the H.8 release will be benchmarked through the June 2024 Call Report. Data on the current release are benchmarked through the March 2024 Call Report. The release will also incorporate revisions to underlying data.

Also effective with the forthcoming release, historical data between July 1, 2009, and March 30, 2022 will be adjusted to align with a previous reporting change. As of April 6, 2022, U.S. agencies and branches of foreign banks no longer reported consumer loans separately on the H.8 release, but included them in all other loans and leases, all loans not elsewhere classified, consistent with FFIEC 002 Call Report treatment of these loans. The forthcoming historical data adjustments will be accompanied by minor series name changes for two items: consumer loans, other consumer loans, all other consumer loans; and all other loans and leases, all loans not elsewhere classified.

In addition, the Data Download Program will contain previously-unpublished monthly, quarterly, and annual growth rates for the following line items:

• real estate loans, commercial real estate loans, construction and land development loans;
• real estate loans, commercial real estate loans, secured by farmland;
• real estate loans, commercial real estate loans, secured by multifamily properties;
• real estate loans, commercial real estate loans, secured by nonfarm nonresidential properties;
• consumer loans, other consumer loans, automobile loans;
• consumer loans, other consumer loans, all other consumer loans;
• all other loans and leases, loans to nondepository financial institutions;
• all other loans and leases, all loans not elsewhere classified.

The data in this H.8 release have been benchmarked using the March 2024 Call Report and incorporate revisions to the underlying data. As previously announced, seasonal factors are updated once per year, typically during the March Call Report benchmark. Therefore, this release also includes new seasonal factors.

Domestically chartered commercial banks divested $7.7 billion in assets and liabilities to nonbanks in the week ending May 8, 2024. The major asset items affected were the following: cash assets, $12.0 billion; and other assets including trading assets, -$7.7 billion. The major liability items affected were the following: deposits, other deposits, $1.5 billion; and other liabilities including trading liabilities, -$1.7 billion. The residual (assets less liabilities) increased $4.5 billion.

The Board of Governors of the Federal Reserve System and the Federal Reserve Bank of St. Louis's Federal Reserve Economic Data (FRED) program are working together to expand options for finding, accessing, and visualizing data from the Board's Data Download Program (DDP) in FRED. Learn more about the DDP and FRED partnership.

Data on this H.8 release have been benchmarked through the December 2023 Call Report. Data on the previous release were benchmarked through the September 2023 Call Report. The release also incorporates revisions to underlying data. Seasonal factors will be updated when the data are benchmarked through the March 2024 Call Report.

Domestically chartered commercial banks divested $11.2 billion in assets to nonbank institutions in the week ending December 20, 2023. The major asset items affected were the following: other securities, non-MBS, $6.4 billion; consumer loans, other consumer loans, all other consumer loans, -$11.2 billion; cash assets, $4.6 billion; and other asset item(s), $0.2 billion.

Data on this H.8 release have been benchmarked through the September 2023 Call Report. Data on the previous release were benchmarked through the June 2023 Call Report. The release also incorporates revisions to underlying data. Notes on the Data for the following as-of dates have been added or revised to reflect additional information that became available after publication: July 6, 2022; October 5, 2022; January 4, 2023; and October 4, 2023.

Seasonal factors have not been updated for this benchmark release. Going forward, seasonal factors will be updated once per year, typically in the summer when the data are benchmarked through the March Call Report, or as needed. This methodological change will reduce volatility in the series and allow for a more thorough annual review of the seasonal factors.

Effective with the forthcoming release dated December 15, 2023, with data as of December 6, 2023, data on the H.8 release will be benchmarked through the September 2023 Call Report. Data were last benchmarked through the June 2023 Call Report. The release will also incorporate revisions to underlying data.

Effective with the forthcoming release dated September 29, 2023, with data as of September 20, 2023, data on the H.8 release will be benchmarked through the June 2023 Call Report. Data were last benchmarked through the March 2023 Call Report. The data will also incorporate new seasonal adjustment factors and revisions to underlying data.

Data on this H.8 release have been benchmarked through the March 2023 Call Report. Data on the previous release were benchmarked through the December 2022 Call Report. The data also incorporate new seasonal adjustment factors and revisions to underlying data.

Effective with the forthcoming release dated June 30, 2023, with data as of June 21, 2023, data on the H.8 release will be benchmarked through the March 2023 Call Report. Data were last benchmarked through the December 2022 Call Report.

Data for the week ending March 15th, 2023, have been revised to represent a change in the way FDIC bridge banks were incorporated in the small bank data as well as other revisions that were within normal week to week fluctuations.

On March 26, 2023, the Federal Reserve will make minor changes to the format of all XML files released through the Data Download Program (DDP). The changes include

Data on this H.8 release have been benchmarked through the June 2022 Call Report. Data on the previous release were benchmarked through the March 2022 Call Report. The data also incorporate new seasonal adjustment factors and revisions to underlying data. Notes on the Data for the following as-of date have been revised to reflect additional information that became available after publication: January 5, 2022.

The Federal Reserve Board is conducting an online survey to collect data on online usage and consumption preferences of users of the Board's Data Download Program (DDP) website.

Visit our website to take the survey: https://boardofgovernors.gov1.qualtrics.com/jfe/form/SV_1I95KuU02McZSwS

The Federal Reserve Board is conducting focus groups to collect data on online usage and consumption preferences of users of the Board's Data Download Program (DDP) website.

Visit our Contact Us page, enter your information, and write "volunteer" in the comment box to sign up: https://www.federalreserve.gov/apps/ContactUs/feedback.aspx?refurl=/ddpfeedback/

The following line item changes have been made on the release:

1. The two Memoranda items covering net unrealized gains (losses) on available-for-sale securities have been discontinued: previous line item 42, Net unrealized gains (losses) on available-for-sale securities; and previous line item 43, Net unrealized gains (losses) on available-for-sale securities, U.S. Treasury and agency securities, MBS.
2. As of April 6, 2022, line item 24, All other consumer loans, no longer includes any such loans held by foreign-related institutions. These loans are now included in line item 27, All loans not elsewhere classified.
3. As of April 6, 2022, line item 27, All loans not elsewhere classified, includes all other consumer loans at foreign-related institutions, previously included in line item 24.
4. As of April 6, 2022, line item 28, Allowance for loan and lease losses, no longer includes any allowances held by foreign-related institutions. Any allowances are included in line item 38, Net due to related foreign offices.

1. The Notes on the Data are now in chronological order by the Wednesday-as-of-date corresponding to the activity, from the latest date to the earliest. Previously the notes were arranged by publication date. Notes reflecting activity on the same as-of date have been consolidated.
2. Notes have been revised to reflect additional information that became available after publication, including revisions in either Reports of Condition and Income (Call Reports) or data submitted by panel respondents. Several new notes have been added for activity between 1999 and 2013.
3. The line items listed in the notes correspond to the current line items of the H.8 release. For line items that have been discontinued since the original note publication, the discontinued items and associated structure change amounts are presented in parentheses following the current line items.

1. The two Memoranda items covering net unrealized gains (losses) on available-for-sale securities will be discontinued: previous line item 42, Net unrealized gains (losses) on available-for-sale securities; and previous line item 43, Net unrealized gains (losses) on available-for-sale securities, U.S. Treasury and agency securities, MBS.
2. As of April 6, 2022, line item 24, All other consumer loans, will no longer include any such loans held by foreign-related institutions. These loans are now included in line item 27, All loans not elsewhere classified.
3. As of April 6, 2022, line item 27, All loans not elsewhere classified, will include all other consumer loans at foreign-related institutions, currently included in line item 24.
4. As of April 6, 2022, line item 28, Allowance for loan and lease losses, will no longer include any allowances held by foreign-related institutions. Any allowances will be included in line item 38, Net due to related foreign offices.

Domestically chartered commercial banks acquired $6.0 billion in assets and liabilities of nonbank institutions in the week ending November 17, 2021. The major asset items affected were the following: real estate loans, commercial real estate loans, construction and land development loans, $0.7 billion; real estate loans, commercial real estate loans, secured by multifamily properties, $0.8 billion; real estate loans, commercial real estate loans, secured by nonfarm nonresidential properties, $2.4 billion; cash assets, $1.0 billion; and other asset items, $1.1 billion. The major liability items affected were the following: deposits, other deposits, $4.2 billion; borrowings, $0.6 billion; and other liability items, $0.5 billion. The residual (assets less liabilities) increased $0.7 billion.

Data on this H.8 release have been benchmarked through the June 2021 Call Report. Data on the previous release were benchmarked through the March 2021 Call Report. The data also incorporate new seasonal adjustment factors.

As a result of system enhancements, this release incorporates minor revisions to historical data due to rounding differences. Also, the calculation of the first monthly level of 1947 of four line items—bank credit, loans and leases in bank credit, real estate loans, and consumer loans—was corrected, which resulted in an increase in each of these levels by 0 to 3 percent and changes in corresponding growth rates.

Data released on January 22, 2021 included revised historical data for three series between 1973 and 2009. The three revised series were: other assets including trading assets; borrowings; and other liabilities including trading liabilities. No other historical data were revised.

As background, on January 12, 2018, several changes to line items shown on the H.8 release were announced. Some of the changes involved the combination of series that had previously been available separately. Three such changes were:

1. Trading assets, previously published separately, became part of other assets;

2. Similarly, trading liabilities became part of other liabilities;

3. Borrowings from banks and borrowings from nonbanks, previously published separately, became borrowings.

At the time of the announcement, historical data for these three newly combined series were made available back to 2010. Recently, estimations of these three series were constructed for periods prior to 2010, and the data were made available through the Data Download Program as of January 22, 2021.

The data for October 4, 2019, from the Board's H.8 statistical release are now available in the Data Download Program (DDP). http://www.federalreserve.gov/datadownload/Choose.aspx?rel=H8

This note provides more information on the changes made to the line items shown on the H.8 release and available through the Federal Reserve's Data Download Program (DDP) that were implemented on January 12, 2018 (for the original description of these changes, see https://www.federalreserve.gov/feeds/h8.html).

Effective January 19, 2018, three corrections have been made to the presentation of data available in the DDP:

1. Historical Data for the discontinued items had remained alongside current items in the DDP as of January 12, 2018. For now, the discontinued items have been removed from the DDP because discontinued items are no longer comingled with current items in the DDP. Data for the discontinued items will be made separately available in the DDP in the future.

2. Data for the new combined items--Other assets including trading assets (line 32), Borrowings (line 37), and Other liabilities including trading liabilities (line 37)--had been incorrectly omitted for the week ending January 6, 2010. These gaps in the data caused the levels of total assets and total liabilities to also be incorrect that week. In addition, these gaps caused distortions in the associated monthly average data for January 2010. This issue has been corrected.

3. The historical series for the new item, Total Federal funds and reverse RPs (line 30), was not included in the DDP. This issue has been corrected.

Effective with this release, several changes have been made to the line items shown on the H.8 release. These changes relate to the Federal Reserve Board's notice published in the Federal Register, 82 FR 49207 on October 24, 2017.

The following line item changes have been made on the release:

1. Previous line item 26, Fed funds and reverse RPs with nonbanks, and previous line item 32, Fed funds and reverse RPs with banks, have been combined as new line item 30, Total federal funds sold and reverse RPs. Note that line item 1, Bank credit, and line item 9, Loans and leases in bank credit, no longer include Fed funds and reverse RPs with nonbanks and the category Interbank loans (former line item 31) has been eliminated.

2. Previous line items 35 and 44, Trading assets and liabilities, respectively, are no longer being published. The amount of trading assets and liabilities are now reported as part of other assets and liabilities (line items
32 and 39), respectively.

3. The two previous components of Borrowings--previous line item 42, Borrowings from banks in the U.S. and previous line item 43, Borrowings from others--are no longer being published separately; these line items have been combined into line item 37, Borrowings.

4. The three Memoranda line items covering loans to businesses with original amounts of $1,000,000 or less have been dropped: previous line item 52, Loans secured by nonfarm nonresidential properties; previous line item 53, Commercial and industrial loans to U.S. addressees; and their total, previous line item 51.

Historical data for the discontinued items will remain available for download through the Federal Reserve Board's Data Download Program. Historical data for the new combined series will be available back to 2010.

Effective with this release, several changes have been made to line items shown on the H.8 release. These changes relate to the Federal Reserve Board's notice published in the Federal Register, 79 FR 57101 on September 24, 2014.

The following line items have been added to the release:

1. Current line item 14, Commercial real estate loans, has been disaggregated into four components: (a) Construction and land development loans; (b) Loans secured by farmland; (c) Loans secured by multifamily properties; and (d) Loans secured by nonfarm nonresidential properties.

2. Current line item 17, Other consumer loans, has been subdivided into two items: (a) Automobile loans; and (b) All other consumer loans.

3. Current line item 20, All other loans and leases, has been split into two items: (a) Loans to nondepository financial institutions; and (b) Other loans not elsewhere classified.

4. A subcomponent of Memoranda line item 44, Net unrealized gains (losses) on available-for-sale securities, covering net unrealized gains (losses) on U.S. Treasury and agency securities, mortgage-backed securities, has been added.

5. Two Memoranda line items covering loans to businesses with original amounts of $1,000,000 or less have been added: (a) Loans secured by nonfarm nonresidential properties; and (b) Commercial and industrial loans to U.S. addressees.

The following line items have been discontinued:

1. Former line items 27 and 38, Derivatives with positive and negative fair values, are no longer being published. The amount of derivatives with positive and negative fair values are now reported as part of line item 26 and line item 37, respectively.

2. Memoranda line items 45, 46, 47, and 48, covering securitized consumer and real estate loans, have also been dropped.

The historical data for the discontinued items will remain available for download through the Federal Reserve Board's Data Download Program (DDP).

Effective with the release dated January 16, 2015, several changes will be made to line items shown on the H.8 release.

These changes relate to the Federal Reserve Board's notice published in the Federal Register, 79 FR 57101 on September 24, 2014.

The following line items will be added to the release:

1. Current line item 14, Commercial real estate loans, will be disaggregated into four components: (a) Construction and land development loans; (b) Loans secured by farmland; (c) Loans secured by multifamily properties; and (d) Loans secured by nonfarm nonresidential properties.

2. Current line item 17, Other consumer loans, will be subdivided into two items: (a) Automobile loans; and (b) All other consumer loans.

3. Current line item 20, All other loans and leases, will be split into two items: (a) Loans to nondepository financial institutions; and (b) Other loans not elsewhere classified.

4. A subcomponent of Memoranda line item 44, Net unrealized gains (losses) on available-for-sale securities, covering net unrealized gains (losses) on U.S. Treasury and agency securities, mortgage-backed securities, will be added.

5. Two Memoranda line items covering loans to businesses with original amounts of $1,000,000 or less will be added: (a) Loans secured by nonfarm nonresidential properties; and (a) Commercial and industrial loans to U.S. addressees.

The following line items will be discontinued:

1. Current line items 27 and 38, Derivatives with positive and negative fair values, will no longer be published. The amount of derivatives with positive and negative fair values will be reported as part of line item 26 and line item 37, respectively.

2. Memoranda line items 45, 46, 47, and 48, covering securitized consumer and real estate loans, will also be dropped.

The historical data for the discontinued items will remain available for download through the Federal Reserve Board's Data Download Program (DDP).

The daily and weekly statistical releases scheduled for Thursday, December 25 and Friday, December 26 will be published on Monday, December 29, 2014, because the federal government is closed.

The weekly H.8 release scheduled for Friday, July 4 will be released on Thursday, July 3.

The data for January 11, 2013, from the Board's H.8 statistical release are now available in the Data Download Program (DDP).
http://www.federalreserve.gov/datadownload/Choose.aspx?rel=H8

A new Technical Q&As page has been added to the H.8 release page on the Board's website. The first entry describes a change in the use of the Census Bureau's X-12-ARIMA program to seasonally adjust data on the H.8 Statistical Release.

Users can now view plotted data as column charts, and add U.S. recession shading, while using the "View chart" function of the Data Download Program (DDP).

Previously published data for the period October 30, 1996, through July 19, 2000, were incorrect for seasonally adjusted series on borrowings, total liabilities and the residual. The error has been corrected and updated values are now available for download.

Users will now be able to create and view interactive graphics of data packages from the program before downloading the underlying data and charts. The charting feature allows users to view multiple data series on a single chart as well as to display individual data points. The charts can be saved as PDFs or in a standard image file format (PNG) for publication and redistribution.

"Graphics play an important role in identifying data trends and relationships," said Federal Reserve Vice Chair Janet L. Yellen. "With the help of this intuitive new user interface, it's now possible to create customized charts directly from Federal Reserve statistical data."

Effective with this release, break adjusted, seasonally adjusted percent changes at an annual rate will be published on the H.8 release each week. The percent changes in selected asset and liability items are shown on page 1 of the release; percent changes for other series shown on the release are available for customizable download through the Federal Reserve Board's Data Download Program (DDP). The percent changes will be updated weekly. Data for a new month, quarter, or year will be published simultaneously with complete weekly data for the new month, quarter, or year. Except for being renumbered, all other pages of the H.8 release are unchanged.

The percent changes have been adjusted to remove the effects of nonbank structure activity of $5 billion or more, as well as the estimated effects of the initial consolidation of certain variable interest entities (FIN 46) and off-balance-sheet vehicles (FAS 166/167). The adjustments are generally made using the figures reported in the H.8 Notes on the Data. A ratio procedure is used to adjust past levels to make them comparable with current levels. For more information on how the H.8 release data are constructed, see About the Release.

The effects of banks' adoption of FASB's Financial Accounting Statements No. 166 (FAS 166), Accounting for Transfers of Financial Assets, and No. 167 (FAS 167), Amendments to FASB Interpretation No. 46(R), will be incorporated in the H.8 commercial bank balance sheet data for March 31, 2010 (to be published on April 9, 2010).

For more information on FAS 166 and 167, please see the Financial Accounting Standards Board's news release.

Owing to the closure of the Federal Reserve Board on the afternoon of Thursday, December 24, and on Friday, December 25, 2009, the H.8 release that would normally be published on Friday, December 25, 2009, will be published on Monday, December 28, 2009.

Effective with this release, several changes, summarized below, have been made to the data and the line items shown on the H.8 release. These changes relate to the adoption, as of July 1, 2009, of a single reporting form for all weekly reporters (see the Federal Reserve Board's notice published in the Federal Register, 74 FR 10739). Historical data have been revised to reflect these changes. In addition, data from the H.8 release are now available for customizable download through the Federal Reserve Board's Data Download Program (DDP). These data will be updated weekly with the H.8 release.

1. The line items on loans now include the loans that banks hold in trading accounts. Previously, loans that banks held in trading accounts were included in trading account securities.
2. Derivatives with a positive fair value and other trading assets are now shown as trading assets not included in bank credit. Previously, derivatives with a positive fair value and other trading assets were included in securities in bank credit.
3. The set of line items shown on the release has been changed.
   • The set of line items shown on the release is now identical for each bank group (all commercial banks; domestically chartered commercial banks; large domestically chartered commercial banks; small domestically chartered commercial banks; and foreign-related institutions in the U.S.). As a result, more line items are now shown on the release for small domestically chartered banks and foreign-related institutions. Data values that had not previously been reported by a bank group are denoted "--". Previously, the set of balance sheet items shown on the release differed substantially by bank group.
   • The line items on securities are now shown by issuer (Treasury and agency or other) and type of security (mortgage-backed securities (MBS) or non-MBS). Previously, securities were shown by account type (investment account versus trading account) for large domestically chartered commercial banks and foreign-related institutions, and detail on mortgage-backed securities was shown only for large domestically chartered commercial banks that held such securities in investment accounts.
   • Banks' allowance for loan and lease losses is now shown.
   • Some line items are no longer shown separately: security loans are now included in all other loans and leases; state and local government loans held in investment accounts by large banks are now included in other securities, non-MBS; transaction deposits are now included in deposits, other deposits; and nontransaction deposits are now included in deposits, large time deposits or in deposits, other deposits, as appropriate.
   • Some memoranda items that were previously shown for large domestically chartered commercial banks have been eliminated: pass-thru mortgage-backed securities; CMO, REMIC, and other mortgage-backed securities.
4. The definitions of large and small domestically chartered commercial banks have been revised.
   • Large domestically chartered commercial banks are now defined as the top 25 domestically chartered commercial banks, ranked by domestic assets as of the previous commercial bank Call Report to which the H.8 release data have been benchmarked. Previously, large domestically chartered commercial banks were defined as banks that reported the FR 2416 form (that form was discontinued as of July 1, 2009).
   • If a large domestically chartered bank is acquired by a commercial bank or if a large bank leaves the commercial bank universe, then it is replaced with the bank next in line, typically the bank ranked number 26.
   • If a nonbank converts to a commercial bank charter, or if a small bank becomes large in size, it is not considered for the large bank panel (regardless of size) until the data are benchmarked to the subsequent Call Report.
   • Small domestically chartered commercial banks are now defined as all domestically chartered commercial banks not included in the top 25. Previously, small domestically chartered commercial banks were defined as all domestically chartered banks that did not report the FR 2416 form.
5. To the extent possible, the information available via the historical H.8 "Notes on the Data" link has been revised to incorporate the changes to the line items shown on the release.

Effective with this release, information included in the "Notes on the Data" section of each H.8 release, if any, will also be available on the Federal Reserve Board's H.8 web pages via a new "Notes on the Data" link (www.federalreserve.gov/releases/h8/h8notes.htm). Previously published "Notes on the Data" back to December 16, 2005, are available via that link.

Effective with this release, several changes have been made to the layout of the balance sheet items reported on the H.8:

1. The balance sheet items on the seasonally adjusted and not seasonally adjusted pages are now identical.
2. For large domestically chartered banks, former item 4d, "Other securities, Investment account, Other," has been disaggregated into items 4b2 and 4b3, "Mortgage-backed" and "Other." Historical data beginning October 2, 1996, are available on the Federal Reserves web site.
3. For foreign-related institutions, former item 7, "Real estate loans," has been renumbered as item 10 and renamed "Commercial real estate," which reflects the loan category more accurately.
4. For small domestically chartered banks, former item 9, "Real estate loans, other," has been disaggregated into items 9 and 10, "Other residential" and "Commercial." Historical data beginning June 2, 2004, are available on the web site.
5. For seasonally adjusted assets of large and small domestically chartered banks, former item 10, "Consumer loans," has been renumbered as item 11 and disaggregated into items 12 and 13, "Credit cards and other revolving plans" and "Other." Historical data beginning June 28, 2000, are available on the web site.
6. For domestically chartered commercial banks and foreign-related institutions, former item 11, "Security loans," has been renumbered as item 14 and disaggregated into items 15 and 16, "Fed funds and RPs with brokers" and "Other." Historical data beginning January 3, 1973, are available on the web site.
7. For foreign-related institutions, former item 12, "Other loans and leases," has been renumbered as item 17 and disaggregated into items 17a and 17b, "Fed funds and RPs with others" and "Other." Historical data beginning January 3, 1973, are available on the web site.
8. For small domestically chartered banks and foreign-related institutions, former item 13, "Interbank loans," has been renumbered as item 18 and disaggregated into items 19 and 20, "Fed funds and RPs with banks" and "Other." Historical data are available on the web site beginning January 6, 1988, for small domestically chartered banks and January 3, 1973, for foreign-related institutions.
9. For foreign-related institutions, former item 19, "Nontransaction deposits," has been renumbered as item 26 and a component, "Large time" has been added (item 27). Historical data beginning January 3, 1973, are available on the web site.
10. For large domestically chartered banks and foreign-related institutions, former memo items 29 and 30, "Reval. gains (losses) on off-bal. sheet items," have been renamed as "Derivatives with a positive (negative) fair value" and moved onto the balance sheet as items 4a1 and 33a. The remaining memo items have been moved to the end of the balance sheet pages. Historical data beginning October 2, 1996, are available on the web site.

The adoption by some banks of FAS 159, The Fair Value Option for Financial Assets and Financial Liabilities (FVO), affected commercial bank balance sheet data for April 2, 2008. The "Notes on the Data" section on page 14 of the H.8 Statistical Release contains information on the affected balance sheet items.

For more information on FAS 159, please refer to www.fasb.org/st/summary/stsum159.shtml.

Effective with this release of data for October 24, 2007, a change has been made to the memo items for small domestically chartered banks (page 13). Former item 33a, securitized consumer loans consisting of "Credit cards and related plans," and former item 33b, securitized consumer loans consisting of "Other" types of consumer loans, have been discontinued.

Also effective with this release, the "Notes on the Data" section at the end of the release will describe nonbank structure activity only when the net effect on bank assets is $5.0 billion or more. Detail will be provided for components with a net effect of $0.5 billion or more.

The seasonally adjusted data released on July 13, 2007--both the H.8 statistical release and the associated historical data--were based inadvertently on a set of newly estimated seasonal factors. These seasonal factors did not represent our final estimates and should not have been published.

In today's H.8 statistical release and in the associated historical data, we have restored the previous set of seasonal factors. In addition, we have corrected the H.8 statistical release of July 13, 2007, by restoring the previous set of seasonal factors to those data. We will publish newly estimated seasonal factors when they have been finalized.

Effective with this release of data for July 4, 2007, several changes have been made to the balance sheet items reported for large and small domestically chartered commercial banks:

• For seasonally adjusted and not seasonally adjusted assets and liabilities of large domestically chartered banks (pages 5 and 7), former item 12a, "State and local government" loans, and former item 12b, "Agricultural" loans, have been discontinued and the remaining three items under item 12 have been renumbered as 12a through 12c. Data for the two discontinued items have been aggregated into renumbered item 12b, "All other loans."
• For seasonally adjusted and not seasonally adjusted assets and liabilities of small domestically chartered banks (pages 9 and 10), former item 11, "Security" loans, has been discontinued and data for this item have been aggregated into existing item 12, "Other loans and leases."
• For memo items of large domestically chartered banks (page 13), former item 34, "Securitized business loans," has been discontinued. On the same page, new item 34, "Securitized real estate loans," has been added to the memo items for both large and small domestically chartered banks.

The data also reflect shifts in reporters between the large and small domestic bank reporting panels.

The adoption by some banks of FAS 159, Fair Value Option for Financial Assets and Liabilities (FVO), affected commercial bank balance sheet data for April 4, 2007. The "Notes on the Data" section on page 14 of the H.8 Statistical Release contains information on the affected balance sheet items.

Under FVO, banks generally have an irrevocable option to elect a fair value measurement for most financial assets and liabilities at their inception. In addition, at the time of FVO adoption, banks have a one-time option to convert a broad array of existing asset and liability items to a fair value measurement basis. A bank that elects to adopt FVO must also adopt FAS 157, Fair Value Measurements. For more information on FAS 159 and FAS 157, refer to www.fasb.org/st/summary/stsum159.shtml and www.fasb.org/st/summary/stsum157.shtml, respectively.

Effective with this release, several changes are being made to the balance sheet items reported for large and small domestically chartered banks.

• For not seasonally adjusted assets and liabilities of all domestically chartered banks (page 4) and of small banks (page 10), item 9, "Real estate loans, other," has been disaggregated into item 9a, "Real estate loans, other residential," and item 9b, "Real estate loans, commercial," effective with the week of June 2, 2004.
• For seasonally adjusted assets and liabilities of large banks (page 5), item 3b, "Treasury and Agency securities, investment account," has been disaggregated into item 3c, "Mortgage-backed," and item 3d, "Other." Similarly, item 9, "Real estate loans, other," has been disaggregated into item 9a, "Real estate loans, other residential," and item 9b, "Real estate loans, commercial." This additional detail has been available for large banks on a not seasonally adjusted basis (page 7) since October 2, 1996.
• For not seasonally adjusted assets of large banks (page 7), items 3e, 3f, and 3g, non-mortgage-backed Treasury and Agency investment account securities having remaining maturities of, respectively, 1 year or less, between 1 and 5 years, and more than 5 years, have been discontinued effective with the week of June 2, 2004.
• For memo items of large banks (page 13), formerly item 33, "Offshore credit to U.S. residents," has been discontinued effective with the week of June 2, 2004.

Commercial bank balance sheet data back to December 17, 2003, have been revised to reflect further information on consolidations of the assets and liabilities of variable interest entities onto the balance sheets of the banks that sponsor them. Variable interest entities encompass many entities that have been commonly referred to as special purpose entities. For more information on these consolidations, please see Financial Accounting Standards Board Interpretation No. 46, Consolidation of Variable Interest Entities, available at http://www.fasb.org. The original amounts of these consolidations reported for December 17 on the H.8 release dated December 29, 2003, have been revised as follows: H.8 balance sheet item 4, other securities, from $6 billion to about $7 billion, balance sheet item 6, commercial and industrial loans, from $9 billion to about $17 billion, and balance sheet item 12, other loans and leases, from $13 billion to about $47 billion.

A number of balance sheet items have changed as a result of declines in some banks' reported consolidations of variable interest entities (VIEs). Most of these declines reflect some banks' decisions to stop consolidating their VIEs in response to the announcement by the Financial Accounting Standards Board on October 9 that it had decided to defer the implementation of its Interpretation No. 46, Consolidation of Variable Interest Entities from the first reporting period beginning after June 15, 2003 to the first reporting period ending after December 15, 2003. For further information, please see the FASB website, www.fasb.org. In addition, a small part of the decline reflects a restructuring of some VIEs so that they no longer need to be consolidated on bank balance sheets.

The balance sheet items affected are other securities, item 4, other loans and leases, item 12, and borrowings from others, item 24. Some of these changes extend back to July 2. Revised data for the H.8 statistical release are available on the Board's website, www.federalreserve.gov/releases.

Commercial bank balance sheet data for October 1, 2003, have been affected by consolidations of the assets and liabilities of several variable interest entities onto the balance sheets of the banks that sponsor them. Variable interest entities encompass many entities that have been commonly referred to as special purpose entities. These consolidations were implemented in accordance with Financial Accounting Standards Board Interpretation No. 46. For more information on these consolidations, please see Financial Accounting Standards Board Interpretation No. 46, Consolidation of Variable Interest Entities, available at www.fasb.org. Preliminary information suggests that these consolidations have increased H.8 balance sheet item 4, other securities, by about $9 billion, balance sheet item 12, other loans and leases, by about $6 billion, and balance sheet item 24, borrowings from others, by about $15 billion.

Commercial bank balance sheet data for July 2, 2003, have been affected by consolidations of the assets and liabilities of several variable interest entities onto the balance sheets of the banks that sponsor them. Variable interest entities encompass many entities that have been commonly referred to as special purpose entities. These consolidations were implemented in accordance with Financial Accounting Standards Board Interpretation No. 46. For more information on these consolidations, please see Financial Accounting Standards Board Interpretation No. 46, Consolidation of Variable Interest Entities, available at www.fasb.org/int46.shtml. Preliminary information suggests that these consolidations have increased H.8 balance sheet item 4, other securities, by about $3 billion, balance sheet item 6, commercial and industrial loans, by about $17 billion, balance sheet item 12, other loans and leases, by about $40 billion, and balance sheet item 24, borrowings from others, by about $60 billion.

Monthly estimates of total bank credit and its major components, seasonally adjusted and not seasonally adjusted, have been extended back from January 1973, the former start date for all the bank credit series, to January 1947. The components that have been extended are holdings of U.S. government securities, holdings of other securities, and the following loan categories: commercial and industrial, real estate, consumer, security, and "all other."

Data in the H.8 are for all commercial banks in the United States, which consist of domestically chartered banks and foreign-related institutions (mainly U.S. branches and agencies of foreign banks). The data for 1973 through 1987 report totals for all institutions as well as subtotals for domestically chartered banks and for foreign-related institutions; beginning in 1988, the data are further disaggregated between large and small domestically chartered banks. The extended data (1947-72) show only all-institution totals.

As with the current data, the extended monthly data are prorated averages of Wednesday values. The weekly Wednesday data underlying the monthly averages mix actual historical observations with estimates that are based on linear interpolations of semimonthly, monthly, and, in a few cases, lower-frequency observations.

Several bank credit series received generally minor revisions for the 1973-87 period when the longer time series were introduced.

Effective with this edition of the H.8 statistical release, the Federal Reserve is discontinuing the publication of the District-specific balance sheet data of large, domestically chartered banks that appeared on pages 11 through 14 of the release.

The reason for the change is that, with the ability of banks to establish branches virtually nationwide as of June 1, 1997, a number of large bank holding companies have converted banks located across several Federal Reserve Districts into branches of a single bank. These consolidations have significantly shifted bank balance sheet items among Federal Reserve Districts, further weakening the connection between banking data reported separately by Federal Reserve District and actual banking activities in each District.

However, the item coverage of the aggregate balance sheets of large banks in the H.8 has been expanded to retain the national totals of some of the items in the District tables that had not appeared in the national tables. As a result, the H.8 now reports the large bank data on four pages rather than two.