Tuesday, Jun 23, 2009

Estimated foreign holdings of U.S. Treasury marketable and non-marketable bills, bonds, and notes (i.e. securities) = Total = $3.2 trillion, with China being the largest holder at $763 billion, or ~23%.

Total Public Debt Oustanding: $11.4 trillion (June 24).

"The Debt Held by the Public is all federal debt held by individuals, corporations, state or local governments, foreign governments, and other entities outside the United States Government" and "Intragovernmental Holdings are ... securities held by Government trust funds, revolving funds, and special funds."

Daily Treasury Statement:

Financial Report of the United States: 2008:

A Glossary of Terms Used in the Federal Budget Process:

Budget of the United States: 2010 budget: Citizen's Guide to the Federal Budget (2002):

In 1861, Secretary of the Treasury Salmon P. Chase recommended the establishment of a system of federally chartered national banks, each of which would have the power to issue standardized national bank notes based on United States bonds held by the bank. In the National Currency Act of 1863, the administration of the new national banking system was vested in the newly created OCC and its chief administrator, the Comptroller of the Currency.

The law was completely rewritten and re-enacted as the National Bank Act. That act authorized the Comptroller of the Currency to hire a staff of national bank examiners to supervise and periodically examine national banks. The act also gave the Comptroller authority to regulate lending and investment activities of national banks.

One of the reasons Congress created a banking system that issued national currency was to finance the Civil War. Although national banks no longer issue currency, they continue to play a prominent role in the nation's economic life. The OCC regulates and supervises about 1,600 national banks and 50 federal branches of foreign banks in the U.S., accounting for nearly two-thirds of the total assets of all U.S. commercial banks (as of March 31, 2009).

The U.S. Office of the Comptroller of the Currency (OCC), About the OCC,