Chart 1. The title is "Bank Exposures to U.S. Treasury Instruments Have Dwindled, unlike Other Classes of Debt Securities".

Share of banks with with different classes of debt securities exceeding 25% of total securities (%) is compared in the years 1994, 1997, 2000 and 2003. The share of banks with U.S. Treasury holdings exceeding 25% of total securities dwindled from 54% in 1994 to 6% in 2003. The share of banks with U.S. Agency bonds exceeding 25% of total securities rose from 42% to 67% between 1994 and 2003. The share of banks with municipal securities exceeding 25% of total securities increased slightly from 21% in 1994 to 29% in 2003. The share of banks with pass-through mortgage-backed securities exceeding 25% of total securities remained virtually the same from 1994 to 2000 at 19%, but then rose to 32% in 2003. The share of banks with other mortgage-backed securities exceeding 25% of total securities dropped slightly from 12% in 1994 to 11% in 2003. The share of banks with other debt securities exceeding 25% of total securities rose from 1% in 1994 to 5% in 2003.