Board of Governors of the Federal Reserve System

1 Log Potential Output Log Actual Output A. Soft Landing B. Reverse Soft

1,370,430 - 1,416 - 233,015 1,366,676 Unamortized premiums on securities...1,644 71,329 1,293,699 1,366,676 Weekly changes 0 0 - 1 - 5 - 483 - 4,681

data, however, industrial output was weaker in the second half of 2000...data and the introduction of improved methods for compiling a few series

data, the introduction of new series, and changes in methods. For this...data on manufacturing became available; otherwise, the statistical updating

1,371,585 + 1,155 - 225,038 1,384,563 Unamortized premiums on securities...1,643 70,824 1,312,093 1,384,563 Weekly changes 0 0 + 1 - 1 - 505 + 18,394

1 + 1 + 1 1 Others 174,929 + 13,200 + 174,929 181,100 Loans 107,306 - ...1,585,565 + 143,992 +1,274,073 1,522,210 Term deposits held by depository

1,616,614 + 31,049 +1,322,531 1,603,262 Term deposits held by depository...1,434,823 + 124,332 +1,211,185 1,431,462 Foreign official 16,277 + 31

data, the introduction of new series, and changes in methods. For this...data on manufacturing became available; otherwise, the statistical updating

data, however, industrial output was weaker in the second half of 2000...data and the introduction of improved methods for compiling a few series

1. Introduction UBS1 draws on its over 150-year heritage to serve private...1.1 below provides a simplified US legal entity structure as of 31 August