. Annual report of the Secretary of the Treasury on the state of the finances for the year .. . amounted to $ billion, and holdings of otherTreasury securities were $ billion. Insurance companies.—In fiscal 1976 insurance companies increasedtheir holdings of public debt securities $ billion compared with $ in fiscal 1975. Holdings of Federal agency issues increased onlyslightly. At the end of the fiscal year, insurance companies held $ of public debt securities and $ billion of Federal agency issues. Savings institutions. — Public debt securities held by savi
. Annual report of the Secretary of the Treasury on the state of the finances for the year .. . amounted to $ billion, and holdings of otherTreasury securities were $ billion. Insurance companies.—In fiscal 1976 insurance companies increasedtheir holdings of public debt securities $ billion compared with $ in fiscal 1975. Holdings of Federal agency issues increased onlyslightly. At the end of the fiscal year, insurance companies held $ of public debt securities and $ billion of Federal agency issues. Savings institutions. — Public debt securities held by savings and loanassociations increased $ billion in fiscal 1976 compared with billionin fiscal 1975. Holdings of Federal agency securities were down the end of fiscal 1976, savings and loan associations held $ billionof public debt securities and $ billion of Federal agency issues. Mutual savings banks held $ billion of public debt securities at theend of fiscal 1976, an increase of $ billion compared with a gain of $ OWNERSHIP OF FEDERAL SECURITIES $Bil. REVIEW OF TREASURY OPERATIONS 33 billion in fiscal 1975. Holdings of Federal agency securities changedslightly, and at the end of fiscal 1976 were just under $ billion. State and local governments.—At the end of fiscal 1976, State and localgovernments held $ billion of public debt securities. This representeda gain of $ billion compared with $ billion added a year ago. Theincrease in holdings was the largest ever for this investor group. Holdingsof Federal agency issues increased $ billion to a level of $ billion. Foreign and international.—Foreign investors held $ billion ofpublic debt securities at the end of fiscal 1976, an increase of $ billioncompared with $ billion added a year ago. Holdings of marketableissues increased $ billion while foreign special nonmarketablesdeclined $ billion. Holdings of Federal agency securities were about thesame as l
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