Board of Governors of the Federal Reserve System

1,680,086 Mar. 62,205 1,760,359 Apr. 64,118 1,832,952 May 67,375 1,930,723...1,636,369 Feb. 465 10 0 1 454 0 1,732,928 Mar. 394 8 0 0 386 0 1,810,906

DATA (Seasonally adjusted) Latest data Percent change from Three Period...5.1 17 Actual data used in lieu of percent changes for earlier periods

data) 1992 1993 1993 Q3 Q4 Q1 Jan. Feb. Mar. Current-cost basis Total ...data) Ratio S2.05 Manufacturing 1- 1.85 Total i 1 - I i , •-1.25 - i Mar

1 (Thousands of employees; based on seasonally adjusted data) 1986 1986...1. The data for the current month are based on preliminary data and include

1 (Thousands of employees; based on seasonally adjusted data) 1985 1986...data unless otherwise noted) 1 1986 Q1 Q2pe Apr. Growth from Q4 1985 to

1.7 3.0 2.7 2.6 Nonbank commercial paper 0.2 0.2 0.1 -0.1 1.3 1/ Other...data on total loans and investments of commercial banks, commercial paper

data, was larger than in the corresponding month of other recent years...m1crl99 Rectangle m1crl99 Rectangle ANNUAL REPORT OF BOARD OF GOVERNORS

1.35, Break-Even at 0.90, and Durbin Impact at 0.26. Note on Current Interchange...1. Losing money on every transaction 2. No longer issuing debit cards

data. All statistical series are published with the same frequency that...data available as of the second week of August 2007. 3 SYMBOLS AND ABBREVIATIONS

1 Second District-New York page 4 Third District-Philadelphia page 7 Fourth...data indicate that a mild, but perhaps prolonged, recession has begun.