# INTRODUCTION: Foreign Currency Positions

The "Treasury Bulletin" reports foreign currency holdings of large
foreign exchange market participants. These reports provide information
on positions in derivative instruments, such as foreign exchange futures
and options, that are increasingly used in establishing foreign exchange
positions but were not covered in the old reports.

The information is based on reports of large foreign exchange market
participants on holdings of five major foreign currencies (Canadian
dollar, Japanese yen, Swiss franc, pound sterling, and euro) and the
U.S. dollar. Positions in the U.S. dollar, which have been collected
since January 1999, are intended to approximate "all other" currency
positions of reporting institutions. U.S.-based businesses file a
consolidated report for their domestic and foreign subsidiaries,
branches, and agencies. U.S. subsidiaries of foreign entities file only
for themselves, not for their foreign parents. Filing is required by law
(31 United States Code 5315; 31 Code of Federal Regulations 128, Subpart
C).

Weekly and monthly reports must be filed throughout the calendar year by
major foreign exchange market participants, which are defined as market
participants with more than \$50 billion equivalent in foreign exchange
contracts on the last business day of any calendar quarter during the
previous year (end March, June, September, or December). Such contracts
include the amounts of foreign exchange spot contracts bought and sold,
foreign exchange forward contracts bought and sold, foreign exchange
futures bought and sold, and one half the notional amount of foreign
exchange options bought and sold.

A quarterly report must be filed throughout the calendar year by each
foreign exchange market participant that had more than \$5 billion
equivalent in foreign exchange contracts on the last business day of any
quarter the previous year (end March, June, September, or December).

This information is published in six sections corresponding to each of
the major currencies covered by the reports. Tables I-1 through VI-1
present the currency data reported weekly by major market participants.
Tables I-2 through VI-2 present more detailed currency data of major
market participants, based on monthly Treasury reports. Tables I-3
through VI-3 present quarterly consolidated currency data reported by
large market participants that do not file weekly reports.

Principal exchanged under cross-currency interest rate swaps is reported
as part of purchases or sales of foreign exchange. Such principal also
was noted separately on monthly and quarterly reports through December
1998, when this practice was discontinued. The net options position, or
the net delta-equivalent value of an options position, is an estimate of
the relationship between an option's value and an equivalent currency
hedge. The delta equivalent value is defined as the product of the first
partial derivative of an option valuation formula (with respect to the
price of the underlying currency) multiplied by the notional principal
of the contract.

+---------------------+---+-------+---+-------+---+---------+----+-----+
| ##                  |   |       |   |       |   |         |    |     |
| SECTION I.---Canadi |   |       |   |       |   |         |    |     |
| an Dollar Positions |   |       |   |       |   |         |    |     |
|                     |   |       |   |       |   |         |    |     |
| ### TA              |   |       |   |       |   |         |    |     |
| BLE FCP-I-1.---Week |   |       |   |       |   |         |    |     |
| ly Report of Major  |   |       |   |       |   |         |    |     |
| Market Participants |   |       |   |       |   |         |    |     |
|                     |   |       |   |       |   |         |    |     |
| \[In millions of    |   |       |   |       |   |         |    |     |
| Canadian dollars.   |   |       |   |       |   |         |    |     |
| Source: Office of   |   |       |   |       |   |         |    |     |
| International       |   |       |   |       |   |         |    |     |
| Monetary and        |   |       |   |       |   |         |    |     |
| Financial Policy\]  |   |       |   |       |   |         |    |     |
+---------------------+---+-------+---+-------+---+---------+----+-----+
| Report date         |   | Spot, |   |       |   | Net     |    | Ex  |
|                     |   | fo    |   |       |   | options |    | cha |
|                     |   | rward |   |       |   | pos     |    | nge |
|                     |   | and   |   |       |   | itions\ |    | r   |
|                     |   | f     |   |       |   | (3)     |    | ate |
|                     |   | uture |   |       |   |         |    | (Ca |
|                     |   | cont  |   |       |   |         |    | nad |
|                     |   | racts |   |       |   |         |    | ian |
|                     |   |       |   |       |   |         |    | d   |
|                     |   |       |   |       |   |         |    | oll |
|                     |   |       |   |       |   |         |    | ars |
|                     |   |       |   |       |   |         |    | per |
|                     |   |       |   |       |   |         |    | U   |
|                     |   |       |   |       |   |         |    | .S. |
|                     |   |       |   |       |   |         |    | do  |
|                     |   |       |   |       |   |         |    | lla |
|                     |   |       |   |       |   |         |    | r)\ |
|                     |   |       |   |       |   |         |    | (4) |
+---------------------+---+-------+---+-------+---+---------+----+-----+
|                     |   |       |   |       |   |         |    |     |
+---------------------+---+-------+---+-------+---+---------+----+-----+
|                     |   |       |   |       |   |         |    |     |
+---------------------+---+-------+---+-------+---+---------+----+-----+
|                     |   | Purch |   | Sold\ |   |         |    |     |
|                     |   | ased\ |   | (2)   |   |         |    |     |
|                     |   | (1)   |   |       |   |         |    |     |
+---------------------+---+-------+---+-------+---+---------+----+-----+
|                     |   |       |   |       |   |         |    |     |
+---------------------+---+-------+---+-------+---+---------+----+-----+
| 07/09/08            | 7 |       | 7 |       | 1 |         | 1. |     |
|                     | 1 |       | 3 |       | , |         | 01 |     |
|                     | 1 |       | 2 |       | 0 |         | 08 |     |
|                     | , |       | , |       | 5 |         |    |     |
|                     | 3 |       | 1 |       | 1 |         |    |     |
|                     | 2 |       | 8 |       |   |         |    |     |
|                     | 2 |       | 2 |       |   |         |    |     |
+---------------------+---+-------+---+-------+---+---------+----+-----+
| 07/16/08            | 7 |       | 7 |       | 1 |         | 1. |     |
|                     | 1 |       | 3 |       | , |         | 00 |     |
|                     | 5 |       | 5 |       | 0 |         | 20 |     |
|                     | , |       | , |       | 5 |         |    |     |
|                     | 3 |       | 0 |       | 2 |         |    |     |
|                     | 3 |       | 9 |       |   |         |    |     |
|                     | 3 |       | 6 |       |   |         |    |     |
+---------------------+---+-------+---+-------+---+---------+----+-----+
| 07/23/08            | 6 |       | 7 |       | 7 |         | 1. |     |
|                     | 9 |       | 1 |       | 1 |         | 00 |     |
|                     | 7 |       | 9 |       | 2 |         | 88 |     |
|                     | , |       | , |       |   |         |    |     |
|                     | 9 |       | 5 |       |   |         |    |     |
|                     | 9 |       | 5 |       |   |         |    |     |
|                     | 5 |       | 3 |       |   |         |    |     |
+---------------------+---+-------+---+-------+---+---------+----+-----+
| 07/30/08            | 7 |       | 7 |       | 4 |         | 1. |     |
|                     | 5 |       | 7 |       | 7 |         | 02 |     |
|                     | 7 |       | 7 |       | 8 |         | 40 |     |
|                     | , |       | , |       |   |         |    |     |
|                     | 0 |       | 0 |       |   |         |    |     |
|                     | 7 |       | 9 |       |   |         |    |     |
|                     | 8 |       | 7 |       |   |         |    |     |
+---------------------+---+-------+---+-------+---+---------+----+-----+
|                     |   |       |   |       |   |         |    |     |
+---------------------+---+-------+---+-------+---+---------+----+-----+
| 08/06/08            | 7 |       | 7 |       | - |         | 1. |     |
|                     | 7 |       | 9 |       | 1 |         | 04 |     |
|                     | 4 |       | 3 |       | 5 |         | 70 |     |
|                     | , |       | , |       |   |         |    |     |
|                     | 0 |       | 2 |       |   |         |    |     |
|                     | 4 |       | 9 |       |   |         |    |     |
|                     | 2 |       | 1 |       |   |         |    |     |
+---------------------+---+-------+---+-------+---+---------+----+-----+
| 08/13/08            | 7 |       | 8 |       | - |         | 1. |     |
|                     | 8 |       | 0 |       | 1 |         | 06 |     |
|                     | 4 |       | 4 |       | 1 |         | 58 |     |
|                     | , |       | , |       | 0 |         |    |     |
|                     | 4 |       | 5 |       |   |         |    |     |
|                     | 2 |       | 7 |       |   |         |    |     |
|                     | 4 |       | 5 |       |   |         |    |     |
+---------------------+---+-------+---+-------+---+---------+----+-----+
| 08/20/08            | 7 |       | 8 |       | 1 |         | 1. |     |
|                     | 7 |       | 0 |       | 6 |         | 06 |     |
|                     | 8 |       | 0 |       | 4 |         | 27 |     |
|                     | , |       | , |       |   |         |    |     |
|                     | 1 |       | 1 |       |   |         |    |     |
|                     | 3 |       | 8 |       |   |         |    |     |
|                     | 8 |       | 2 |       |   |         |    |     |
+---------------------+---+-------+---+-------+---+---------+----+-----+
| 08/27/08            | 8 |       | 8 |       | 9 |         | 1. |     |
|                     | 1 |       | 3 |       | 9 |         | 04 |     |
|                     | 2 |       | 5 |       | 5 |         | 83 |     |
|                     | , |       | , |       |   |         |    |     |
|                     | 1 |       | 6 |       |   |         |    |     |
|                     | 6 |       | 6 |       |   |         |    |     |
|                     | 5 |       | 2 |       |   |         |    |     |
+---------------------+---+-------+---+-------+---+---------+----+-----+
|                     |   |       |   |       |   |         |    |     |
+---------------------+---+-------+---+-------+---+---------+----+-----+
| 09/03/08            | 8 |       | 8 |       | 1 |         | 1. |     |
|                     | 4 |       | 6 |       | , |         | 06 |     |
|                     | 5 |       | 9 |       | 2 |         | 10 |     |
|                     | , |       | , |       | 1 |         |    |     |
|                     | 0 |       | 6 |       | 3 |         |    |     |
|                     | 5 |       | 9 |       |   |         |    |     |
|                     | 8 |       | 0 |       |   |         |    |     |
+---------------------+---+-------+---+-------+---+---------+----+-----+
| 09/10/08            | 8 |       | 8 |       | 9 |         | 1. |     |
|                     | 7 |       | 9 |       | 9 |         | 07 |     |
|                     | 6 |       | 4 |       | 3 |         | 35 |     |
|                     | , |       | , |       |   |         |    |     |
|                     | 9 |       | 3 |       |   |         |    |     |
|                     | 7 |       | 0 |       |   |         |    |     |
|                     | 2 |       | 7 |       |   |         |    |     |
+---------------------+---+-------+---+-------+---+---------+----+-----+
| 09/17/08            | 7 |       | 7 |       | 9 |         | 1. |     |
|                     | 0 |       | 1 |       | 0 |         | 07 |     |
|                     | 4 |       | 7 |       | 0 |         | 88 |     |
|                     | , |       | , |       |   |         |    |     |
|                     | 0 |       | 6 |       |   |         |    |     |
|                     | 8 |       | 9 |       |   |         |    |     |
|                     | 4 |       | 7 |       |   |         |    |     |
+---------------------+---+-------+---+-------+---+---------+----+-----+
| 09/24/08            | 7 |       | 7 |       | 2 |         | 1. |     |
|                     | 0 |       | 3 |       | , |         | 03 |     |
|                     | 5 |       | 6 |       | 0 |         | 51 |     |
|                     | , |       | , |       | 7 |         |    |     |
|                     | 5 |       | 0 |       | 5 |         |    |     |
|                     | 2 |       | 7 |       |   |         |    |     |
|                     | 1 |       | 1 |       |   |         |    |     |
+---------------------+---+-------+---+-------+---+---------+----+-----+
|                     |   |       |   |       |   |         |    |     |
+---------------------+---+-------+---+-------+---+---------+----+-----+
| 10/01/08            | 7 |       | 7 |       | 1 |         | 1. |     |
|                     | 2 |       | 5 |       | , |         | 06 |     |
|                     | 6 |       | 5 |       | 2 |         | 07 |     |
|                     | , |       | , |       | 2 |         |    |     |
|                     | 3 |       | 2 |       | 0 |         |    |     |
|                     | 0 |       | 3 |       |   |         |    |     |
|                     | 2 |       | 2 |       |   |         |    |     |
+---------------------+---+-------+---+-------+---+---------+----+-----+
| 10/08/08            | 7 |       | 7 |       | 7 |         | 1. |     |
|                     | 4 |       | 7 |       | 8 |         | 12 |     |
|                     | 7 |       | 6 |       | 2 |         | 46 |     |
|                     | , |       | , |       |   |         |    |     |
|                     | 8 |       | 5 |       |   |         |    |     |
|                     | 5 |       | 6 |       |   |         |    |     |
|                     | 6 |       | 5 |       |   |         |    |     |
+---------------------+---+-------+---+-------+---+---------+----+-----+
| 10/15/08            | 7 |       | 8 |       | - |         | 1. |     |
|                     | 6 |       | 1 |       | 1 |         | 18 |     |
|                     | 6 |       | 6 |       | 9 |         | 04 |     |
|                     | , |       | , |       |   |         |    |     |
|                     | 6 |       | 4 |       |   |         |    |     |
|                     | 1 |       | 2 |       |   |         |    |     |
|                     | 9 |       | 4 |       |   |         |    |     |
+---------------------+---+-------+---+-------+---+---------+----+-----+
| 10/22/08            | 7 |       | 8 |       | - |         | 1. |     |
|                     | 7 |       | 1 |       | 2 |         | 24 |     |
|                     | 9 |       | 3 |       | 4 |         | 96 |     |
|                     | , |       | , |       | 4 |         |    |     |
|                     | 9 |       | 2 |       |   |         |    |     |
|                     | 8 |       | 1 |       |   |         |    |     |
|                     | 2 |       | 0 |       |   |         |    |     |
+---------------------+---+-------+---+-------+---+---------+----+-----+
| 10/29/08            | 8 |       | 8 |       | - |         | 1. |     |
|                     | 1 |       | 4 |       | 1 |         | 23 |     |
|                     | 5 |       | 7 |       | 7 |         | 02 |     |
|                     | , |       | , |       | 0 |         |    |     |
|                     | 4 |       | 7 |       |   |         |    |     |
|                     | 8 |       | 5 |       |   |         |    |     |
|                     | 8 |       | 7 |       |   |         |    |     |
+---------------------+---+-------+---+-------+---+---------+----+-----+
|                     |   |       |   |       |   |         |    |     |
+---------------------+---+-------+---+-------+---+---------+----+-----+
| 11/05/08            | 7 |       | 8 |       | - |         | 1. |     |
|                     | 9 |       | 3 |       | 9 |         | 15 |     |
|                     | 8 |       | 1 |       | 8 |         | 90 |     |
|                     | , |       | , |       | 8 |         |    |     |
|                     | 0 |       | 9 |       |   |         |    |     |
|                     | 6 |       | 7 |       |   |         |    |     |
|                     | 9 |       | 5 |       |   |         |    |     |
+---------------------+---+-------+---+-------+---+---------+----+-----+
| 11/12/08            | 7 |       | 8 |       | - |         | 1. |     |
|                     | 9 |       | 2 |       | 9 |         | 22 |     |
|                     | 2 |       | 5 |       | 9 |         | 96 |     |
|                     | , |       | , |       | 9 |         |    |     |
|                     | 7 |       | 5 |       |   |         |    |     |
|                     | 2 |       | 1 |       |   |         |    |     |
|                     | 8 |       | 5 |       |   |         |    |     |
+---------------------+---+-------+---+-------+---+---------+----+-----+
| 11/19/08            | 7 |       | 8 |       | - |         | 1. |     |
|                     | 8 |       | 2 |       | 1 |         | 23 |     |
|                     | 3 |       | 3 |       | , |         | 70 |     |
|                     | , |       | , |       | 0 |         |    |     |
|                     | 9 |       | 2 |       | 6 |         |    |     |
|                     | 9 |       | 3 |       | 7 |         |    |     |
|                     | 7 |       | 4 |       |   |         |    |     |
+---------------------+---+-------+---+-------+---+---------+----+-----+
| 11/26/08            | 8 |       | 8 |       | - |         | 1. |     |
|                     | 0 |       | 4 |       | 1 |         | 23 |     |
|                     | 3 |       | 3 |       | , |         | 38 |     |
|                     | , |       | , |       | 0 |         |    |     |
|                     | 2 |       | 6 |       | 3 |         |    |     |
|                     | 5 |       | 6 |       | 8 |         |    |     |
|                     | 5 |       | 7 |       |   |         |    |     |
+---------------------+---+-------+---+-------+---+---------+----+-----+
|                     |   |       |   |       |   |         |    |     |
+---------------------+---+-------+---+-------+---+---------+----+-----+
| 12/03/08            | 8 |       | 8 |       | - |         | 1. |     |
|                     | 0 |       | 4 |       | 7 |         | 25 |     |
|                     | 5 |       | 4 |       | 6 |         | 73 |     |
|                     | , |       | , |       | 6 |         |    |     |
|                     | 1 |       | 1 |       |   |         |    |     |
|                     | 8 |       | 8 |       |   |         |    |     |
|                     | 2 |       | 8 |       |   |         |    |     |
+---------------------+---+-------+---+-------+---+---------+----+-----+
| 12/10/08            | 7 |       | 7 |       | - |         | 1. |     |
|                     | 4 |       | 8 |       | 4 |         | 25 |     |
|                     | 8 |       | 5 |       | 5 |         | 53 |     |
|                     | , |       | , |       | 4 |         |    |     |
|                     | 6 |       | 7 |       |   |         |    |     |
|                     | 4 |       | 9 |       |   |         |    |     |
|                     | 3 |       | 7 |       |   |         |    |     |
+---------------------+---+-------+---+-------+---+---------+----+-----+
| 12/17/08            | 6 |       | 7 |       | - |         | 1. |     |
|                     | 8 |       | 1 |       | 4 |         | 20 |     |
|                     | 2 |       | 2 |       | 9 |         | 58 |     |
|                     | , |       | , |       | 4 |         |    |     |
|                     | 8 |       | 7 |       |   |         |    |     |
|                     | 7 |       | 8 |       |   |         |    |     |
|                     | 8 |       | 7 |       |   |         |    |     |
+---------------------+---+-------+---+-------+---+---------+----+-----+
| 12/24/08            | 6 |       | 6 |       | - |         | 1. |     |
|                     | 1 |       | 4 |       | 7 |         | 21 |     |
|                     | 7 |       | 8 |       | 2 |         | 25 |     |
|                     | , |       | , |       | 6 |         |    |     |
|                     | 8 |       | 0 |       |   |         |    |     |
|                     | 4 |       | 3 |       |   |         |    |     |
|                     | 1 |       | 6 |       |   |         |    |     |
+---------------------+---+-------+---+-------+---+---------+----+-----+
| 12/31/08            | 6 |       | 6 |       | - |         | 1. |     |
|                     | 3 |       | 6 |       | 3 |         | 22 |     |
|                     | 0 |       | 1 |       | 4 |         | 40 |     |
|                     | , |       | , |       | 4 |         |    |     |
|                     | 6 |       | 4 |       |   |         |    |     |
|                     | 3 |       | 1 |       |   |         |    |     |
|                     | 2 |       | 0 |       |   |         |    |     |
+---------------------+---+-------+---+-------+---+---------+----+-----+
|                     |   |       |   |       |   |         |    |     |
+---------------------+---+-------+---+-------+---+---------+----+-----+

<table style="width:100%;">
<colgroup>
<col style="width: 14%" />
<col style="width: 8%" />
<col style="width: 0%" />
<col style="width: 8%" />
<col style="width: 0%" />
<col style="width: 8%" />
<col style="width: 0%" />
<col style="width: 6%" />
<col style="width: 0%" />
<col style="width: 7%" />
<col style="width: 1%" />
<col style="width: 7%" />
<col style="width: 0%" />
<col style="width: 8%" />
<col style="width: 0%" />
<col style="width: 7%" />
<col style="width: 1%" />
<col style="width: 7%" />
<col style="width: 8%" />
<col style="width: 2%" />
</colgroup>
<tbody>
<tr class="odd">
<td colspan="20"><h2
id="section-i.canadian-dollar-positions-con.">SECTION I.—Canadian Dollar
Positions, con.</h2>
<h3 id="table-fcp-i-2.monthly-report-of-major-market-participants">TABLE
FCP-I-2.—Monthly Report of Major Market Participants</h3>
<p>[In millions of Canadian dollars. Office of International Monetary
and Financial Policy]</p></td>
</tr>
<tr class="even">
<td rowspan="3">Report date</td>
<td colspan="3" rowspan="2">Spot, forward<br />
and future contracts</td>
<td colspan="5" rowspan="2">Foreign currency denominated</td>
<td colspan="9">Options positions</td>
<td colspan="2" rowspan="3"><p>Exchange rate<br />
(Canadian</p>
<p>dollars per</p>
<p>U.S. dollar)<br />
(10)</p></td>
</tr>
<tr class="odd">
<td colspan="4">Calls</td>
<td colspan="4">Puts</td>
<td rowspan="2">Net delta<br />
equivalent<br />
(9)</td>
</tr>
<tr class="even">
<td colspan="2">Purchased<br />
(1)</td>
<td>Sold<br />
(2)</td>
<td colspan="2">Assets<br />
(3)</td>
<td colspan="2">Liabilities<br />
(4)</td>
<td colspan="3">Bought<br />
(5)</td>
<td colspan="2">Written<br />
(6)</td>
<td colspan="2">Bought<br />
(7)</td>
<td colspan="2">Written<br />
(8)</td>
</tr>
<tr class="odd">
<td></td>
<td></td>
<td colspan="2"></td>
<td colspan="3"></td>
<td colspan="2"></td>
<td></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td></td>
<td></td>
</tr>
<tr class="even">
<td>2006 - Dec</td>
<td>579,771</td>
<td colspan="2">588,986</td>
<td colspan="3">160,820</td>
<td colspan="2">146,721</td>
<td>74,389</td>
<td colspan="2">68,162</td>
<td colspan="2">90,305</td>
<td colspan="2">94,040</td>
<td colspan="2">6,142</td>
<td>1.1652</td>
<td></td>
</tr>
<tr class="odd">
<td>2007 - Dec</td>
<td>694,064</td>
<td colspan="2">714,446</td>
<td colspan="3">197,438</td>
<td colspan="2">182,233</td>
<td>71,200</td>
<td colspan="2">69,421</td>
<td colspan="2">72,055</td>
<td colspan="2">77,515</td>
<td colspan="2">-522</td>
<td>0.9881</td>
<td></td>
</tr>
<tr class="even">
<td>2008 - Jan</td>
<td>776,057</td>
<td colspan="2">792,881</td>
<td colspan="3">192,919</td>
<td colspan="2">172,864</td>
<td>73,674</td>
<td colspan="2">69,899</td>
<td colspan="2">80,493</td>
<td colspan="2">84,503</td>
<td colspan="2">-359</td>
<td>1.0018</td>
<td></td>
</tr>
<tr class="odd">
<td><blockquote>
<p>Feb</p>
</blockquote></td>
<td>813,057</td>
<td colspan="2">828,410</td>
<td colspan="3">203,219</td>
<td colspan="2">186,880</td>
<td>70,622</td>
<td colspan="2">67,515</td>
<td colspan="2">78,337</td>
<td colspan="2">82,716</td>
<td colspan="2">34</td>
<td>0.9796</td>
<td></td>
</tr>
<tr class="even">
<td><blockquote>
<p>Mar</p>
</blockquote></td>
<td>704,900</td>
<td colspan="2">725,870</td>
<td colspan="3">197,173</td>
<td colspan="2">181,297</td>
<td>68,766</td>
<td colspan="2">64,611</td>
<td colspan="2">79,214</td>
<td colspan="2">84,604</td>
<td colspan="2">636</td>
<td>1.0275</td>
<td></td>
</tr>
<tr class="odd">
<td><blockquote>
<p>Apr</p>
</blockquote></td>
<td>792,511</td>
<td colspan="2">811,750</td>
<td colspan="3">204,674</td>
<td colspan="2">182,754</td>
<td>72,251</td>
<td colspan="2">61,955</td>
<td colspan="2">78,321</td>
<td colspan="2">86,569</td>
<td colspan="2">446</td>
<td>1.0092</td>
<td></td>
</tr>
<tr class="even">
<td><blockquote>
<p>May</p>
</blockquote></td>
<td>783,032</td>
<td colspan="2">800,143</td>
<td colspan="3">193,260</td>
<td colspan="2">175,265</td>
<td>75,246</td>
<td colspan="2">62,438</td>
<td colspan="2">69,409</td>
<td colspan="2">81,474</td>
<td colspan="2">305</td>
<td>0.9938</td>
<td></td>
</tr>
<tr class="odd">
<td><blockquote>
<p>June</p>
</blockquote></td>
<td>708,422</td>
<td colspan="2">723,727</td>
<td colspan="3">195,618</td>
<td colspan="2">177,698</td>
<td>73,064</td>
<td colspan="2">62,946</td>
<td colspan="2">66,938</td>
<td colspan="2">77,223</td>
<td colspan="2">550</td>
<td>1.0185</td>
<td></td>
</tr>
<tr class="even">
<td><blockquote>
<p>July</p>
</blockquote></td>
<td>762,144</td>
<td colspan="2">783,370</td>
<td colspan="3">203,718</td>
<td colspan="2">183,997</td>
<td>60,370</td>
<td colspan="2">57,570</td>
<td colspan="2">60,852</td>
<td colspan="2">65,535</td>
<td colspan="2">311</td>
<td>1.0261</td>
<td></td>
</tr>
<tr class="odd">
<td><blockquote>
<p>Aug</p>
</blockquote></td>
<td>813,975</td>
<td colspan="2">835,396</td>
<td colspan="3">210,772</td>
<td colspan="2">192,626</td>
<td>62,405</td>
<td colspan="2">62,211</td>
<td colspan="2">68,050</td>
<td colspan="2">67,675</td>
<td colspan="2">1,002</td>
<td>1.0631</td>
<td></td>
</tr>
<tr class="even">
<td><blockquote>
<p>Sept</p>
</blockquote></td>
<td>730,492</td>
<td colspan="2">758,806</td>
<td colspan="3">180,842</td>
<td colspan="2">156,950</td>
<td>59,498</td>
<td colspan="2">60,990</td>
<td colspan="2">62,821</td>
<td colspan="2">60,724</td>
<td colspan="2">1,228</td>
<td>1.0597</td>
<td></td>
</tr>
<tr class="odd">
<td><blockquote>
<p>Oct</p>
</blockquote></td>
<td>817,607</td>
<td colspan="2">846,772</td>
<td colspan="3">191,668</td>
<td colspan="2">164,583</td>
<td>52,351</td>
<td colspan="2">53,220</td>
<td colspan="2">61,117</td>
<td colspan="2">59,599</td>
<td colspan="2">-1,214</td>
<td>1.2158</td>
<td></td>
</tr>
<tr class="even">
<td><blockquote>
<p>Nov</p>
</blockquote></td>
<td>800,323</td>
<td colspan="2">841,201</td>
<td colspan="3">175,232</td>
<td colspan="2">152,935</td>
<td>39,942</td>
<td colspan="2">39,348</td>
<td colspan="2">46,428</td>
<td colspan="2">45,867</td>
<td colspan="2">-1,401</td>
<td>1.2360</td>
<td></td>
</tr>
<tr class="odd">
<td><blockquote>
<p>Dec</p>
</blockquote></td>
<td>634,789</td>
<td colspan="2">666,685</td>
<td colspan="3">175,405</td>
<td colspan="2">154,246</td>
<td>34,361</td>
<td colspan="2">32,641</td>
<td colspan="2">36,089</td>
<td colspan="2">37,162</td>
<td colspan="2">-829</td>
<td>1.2240</td>
<td></td>
</tr>
<tr class="even">
<td></td>
<td></td>
<td colspan="3"></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td></td>
<td></td>
</tr>
</tbody>
</table>

<table style="width:100%;">
<colgroup>
<col style="width: 14%" />
<col style="width: 8%" />
<col style="width: 0%" />
<col style="width: 7%" />
<col style="width: 0%" />
<col style="width: 0%" />
<col style="width: 8%" />
<col style="width: 2%" />
<col style="width: 6%" />
<col style="width: 1%" />
<col style="width: 7%" />
<col style="width: 1%" />
<col style="width: 7%" />
<col style="width: 1%" />
<col style="width: 7%" />
<col style="width: 6%" />
<col style="width: 0%" />
<col style="width: 7%" />
<col style="width: 1%" />
<col style="width: 8%" />
<col style="width: 2%" />
</colgroup>
<tbody>
<tr class="odd">
<td colspan="21"><h3
id="table-fcp-i-3.quarterly-report-of-large-market-participants">TABLE
FCP-I-3.—Quarterly Report of Large Market Participants</h3>
<p>[In millions of Canadian dollars. Source: Office of International
Monetary and Financial Policy]</p></td>
</tr>
<tr class="even">
<td rowspan="3">Report date</td>
<td colspan="4" rowspan="2">Spot, forward<br />
and future contracts</td>
<td colspan="5" rowspan="2">Foreign currency denominated</td>
<td colspan="9">Options positions</td>
<td colspan="2" rowspan="3">Exchange rate<br />
(Canadian<br />
dollars per<br />
U.S. dollar)<br />
(10)</td>
</tr>
<tr class="odd">
<td colspan="4">Calls</td>
<td colspan="3">Puts</td>
<td colspan="2" rowspan="2">Net delta<br />
equivalent<br />
(9)</td>
</tr>
<tr class="even">
<td colspan="2">Purchased<br />
(1)</td>
<td>Sold<br />
(2)</td>
<td colspan="4">Assets<br />
(3)</td>
<td colspan="2">Liabilities<br />
(4)</td>
<td colspan="2">Bought<br />
(5)</td>
<td colspan="2">Written<br />
(6)</td>
<td>Bought<br />
(7)</td>
<td colspan="2">Written<br />
(8)</td>
</tr>
<tr class="odd">
<td></td>
<td></td>
<td colspan="4"></td>
<td></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td></td>
</tr>
<tr class="even">
<td>2005 - Dec</td>
<td>25,109</td>
<td colspan="4">32,454</td>
<td>96,654</td>
<td colspan="2">n.a.</td>
<td colspan="2">451</td>
<td colspan="2">n.a.</td>
<td colspan="2">2,157</td>
<td>660</td>
<td colspan="2">n.a.</td>
<td colspan="2">1.1656</td>
<td></td>
</tr>
<tr class="odd">
<td>2006 - Mar</td>
<td>21,479</td>
<td colspan="4">27,460</td>
<td>n.a.</td>
<td colspan="2">n.a.</td>
<td colspan="2">662</td>
<td colspan="2">824</td>
<td colspan="2">2,870</td>
<td>905</td>
<td colspan="2">-826</td>
<td colspan="2">1.167</td>
<td></td>
</tr>
<tr class="even">
<td>June</td>
<td>22,757</td>
<td colspan="4">27,397</td>
<td>n.a.</td>
<td colspan="2">n.a.</td>
<td colspan="2">463</td>
<td colspan="2">758</td>
<td colspan="2">2,501</td>
<td>688</td>
<td colspan="2">-700</td>
<td colspan="2">1.115</td>
<td></td>
</tr>
<tr class="odd">
<td>Sept</td>
<td>22,644</td>
<td colspan="4">29,191</td>
<td>87,920</td>
<td colspan="2">n.a.</td>
<td colspan="2">419</td>
<td colspan="2">460</td>
<td colspan="2">2,269</td>
<td>882</td>
<td colspan="2">-459</td>
<td colspan="2">1.1151</td>
<td></td>
</tr>
<tr class="even">
<td>Dec</td>
<td>20,327</td>
<td colspan="4">26,745</td>
<td>65,076</td>
<td colspan="2">34,842</td>
<td colspan="2">833</td>
<td colspan="2">456</td>
<td colspan="2">1,536</td>
<td>844</td>
<td colspan="2">n.a.</td>
<td colspan="2">1.1652</td>
<td></td>
</tr>
<tr class="odd">
<td>2007 - Mar</td>
<td>13,129</td>
<td colspan="4">21,573</td>
<td>67,774</td>
<td colspan="2">32,113</td>
<td colspan="2">444</td>
<td colspan="2">n.a.</td>
<td colspan="2">n.a.</td>
<td>n.a.</td>
<td colspan="2">n.a.</td>
<td colspan="2">1.153</td>
<td></td>
</tr>
<tr class="even">
<td>June</td>
<td>10,551</td>
<td colspan="4">16,894</td>
<td>94,501</td>
<td colspan="2">65,451</td>
<td colspan="2">259</td>
<td colspan="2">346</td>
<td colspan="2">1,481</td>
<td>805</td>
<td colspan="2">-174</td>
<td colspan="2">1.0634</td>
<td></td>
</tr>
<tr class="odd">
<td><blockquote>
<p>Sept</p>
</blockquote></td>
<td>10,062</td>
<td colspan="4">16,161</td>
<td>92,670</td>
<td colspan="2">69,270</td>
<td colspan="2">n.a.</td>
<td colspan="2">256</td>
<td colspan="2">1,450</td>
<td>n.a.</td>
<td colspan="2">-192</td>
<td colspan="2">0.9959</td>
<td></td>
</tr>
<tr class="even">
<td><blockquote>
<p>Dec</p>
</blockquote></td>
<td>9,864</td>
<td colspan="4">17,299</td>
<td>90,515</td>
<td colspan="2">74,923</td>
<td colspan="2">n.a.</td>
<td colspan="2">1,186</td>
<td colspan="2">1,628</td>
<td>703</td>
<td colspan="2">-300</td>
<td colspan="2">0.9881</td>
<td></td>
</tr>
<tr class="odd">
<td>2008 - Mar</td>
<td>24,894</td>
<td colspan="4">21,409</td>
<td>110,013</td>
<td colspan="2">71,727</td>
<td colspan="2">836</td>
<td colspan="2">957</td>
<td colspan="2">2,125</td>
<td>1,310</td>
<td colspan="2">-470</td>
<td colspan="2">1.0275</td>
<td></td>
</tr>
<tr class="even">
<td>June</td>
<td>25,156</td>
<td colspan="4">21,808</td>
<td>139,752</td>
<td colspan="2">77,457</td>
<td colspan="2">418</td>
<td colspan="2">1,328</td>
<td colspan="2">2,216</td>
<td>1,914</td>
<td colspan="2">-422</td>
<td colspan="2">1.0185</td>
<td></td>
</tr>
<tr class="odd">
<td>Sept</td>
<td>23,453</td>
<td colspan="4">26,995</td>
<td>126,375</td>
<td colspan="2">74,937</td>
<td colspan="2">n.a.</td>
<td colspan="2">1,221</td>
<td colspan="2">2,006</td>
<td>n.a.</td>
<td colspan="2">-305</td>
<td colspan="2">1.0597</td>
<td></td>
</tr>
<tr class="even">
<td></td>
<td></td>
<td colspan="4"></td>
<td></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td></td>
</tr>
</tbody>
</table>

+--------------------+----+------+---+----------+----+------+---+-----+
| ##                 |    |      |   |          |    |      |   |     |
| SECTION II.---Japa |    |      |   |          |    |      |   |     |
| nese Yen Positions |    |      |   |          |    |      |   |     |
|                    |    |      |   |          |    |      |   |     |
| ### TABLE          |    |      |   |          |    |      |   |     |
| FCP-II-1.---Weekly |    |      |   |          |    |      |   |     |
|  Report of Major M |    |      |   |          |    |      |   |     |
| arket Participants |    |      |   |          |    |      |   |     |
|                    |    |      |   |          |    |      |   |     |
| \[In billions of   |    |      |   |          |    |      |   |     |
| Japanese yen.      |    |      |   |          |    |      |   |     |
| Source: Office of  |    |      |   |          |    |      |   |     |
| International      |    |      |   |          |    |      |   |     |
| Monetary and       |    |      |   |          |    |      |   |     |
| Financial Policy\] |    |      |   |          |    |      |   |     |
+--------------------+----+------+---+----------+----+------+---+-----+
|                    |    |      |   |          |    |      |   | Ex  |
|                    |    |      |   |          |    |      |   | cha |
|                    |    |      |   |          |    |      |   | nge |
|                    |    |      |   |          |    |      |   | r   |
|                    |    |      |   |          |    |      |   | ate |
|                    |    |      |   |          |    |      |   | (Ja |
|                    |    |      |   |          |    |      |   | pan |
|                    |    |      |   |          |    |      |   | ese |
|                    |    |      |   |          |    |      |   | yen |
|                    |    |      |   |          |    |      |   | per |
|                    |    |      |   |          |    |      |   | U   |
|                    |    |      |   |          |    |      |   | .S. |
|                    |    |      |   |          |    |      |   | do  |
|                    |    |      |   |          |    |      |   | lla |
|                    |    |      |   |          |    |      |   | r)\ |
|                    |    |      |   |          |    |      |   | (4) |
+--------------------+----+------+---+----------+----+------+---+-----+
| Report date        |    | S    |   |          |    | Net  |   |     |
|                    |    | pot, |   |          |    | opt  |   |     |
|                    |    | for  |   |          |    | ions |   |     |
|                    |    | ward |   |          |    | po   |   |     |
|                    |    | and  |   |          |    | siti |   |     |
|                    |    | fu   |   |          |    | ons\ |   |     |
|                    |    | ture |   |          |    | (3)  |   |     |
|                    |    | c    |   |          |    |      |   |     |
|                    |    | ontr |   |          |    |      |   |     |
|                    |    | acts |   |          |    |      |   |     |
+--------------------+----+------+---+----------+----+------+---+-----+
|                    |    | Pu   |   | Sold\    |    |      |   |     |
|                    |    | rcha |   | (2)      |    |      |   |     |
|                    |    | sed\ |   |          |    |      |   |     |
|                    |    | (1)  |   |          |    |      |   |     |
+--------------------+----+------+---+----------+----+------+---+-----+
|                    |    |      |   |          |    |      |   |     |
+--------------------+----+------+---+----------+----+------+---+-----+
| 07/09/08           | 4  |      | 4 |          | 2  |      | 1 |     |
|                    | 00 |      | 0 |          | ,4 |      | 0 |     |
|                    | ,9 |      | 5 |          | 44 |      | 7 |     |
|                    | 50 |      | , |          |    |      | . |     |
|                    |    |      | 4 |          |    |      | 1 |     |
|                    |    |      | 2 |          |    |      | 2 |     |
|                    |    |      | 8 |          |    |      |   |     |
+--------------------+----+------+---+----------+----+------+---+-----+
| 07/16/08           | 4  |      | 4 |          | 2  |      | 1 |     |
|                    | 09 |      | 1 |          | ,5 |      | 0 |     |
|                    | ,4 |      | 3 |          | 08 |      | 4 |     |
|                    | 73 |      | , |          |    |      | . |     |
|                    |    |      | 6 |          |    |      | 6 |     |
|                    |    |      | 5 |          |    |      | 4 |     |
|                    |    |      | 7 |          |    |      |   |     |
+--------------------+----+------+---+----------+----+------+---+-----+
| 07/23/08           | 4  |      | 4 |          | 2  |      | 1 |     |
|                    | 00 |      | 0 |          | ,3 |      | 0 |     |
|                    | ,3 |      | 4 |          | 82 |      | 7 |     |
|                    | 23 |      | , |          |    |      | . |     |
|                    |    |      | 8 |          |    |      | 6 |     |
|                    |    |      | 6 |          |    |      | 8 |     |
|                    |    |      | 8 |          |    |      |   |     |
+--------------------+----+------+---+----------+----+------+---+-----+
| 07/30/08           | 4  |      | 4 |          | 2  |      | 1 |     |
|                    | 08 |      | 1 |          | ,6 |      | 0 |     |
|                    | ,0 |      | 2 |          | 96 |      | 8 |     |
|                    | 04 |      | , |          |    |      | . |     |
|                    |    |      | 6 |          |    |      | 1 |     |
|                    |    |      | 0 |          |    |      | 7 |     |
|                    |    |      | 2 |          |    |      |   |     |
+--------------------+----+------+---+----------+----+------+---+-----+
|                    |    |      |   |          |    |      |   |     |
+--------------------+----+------+---+----------+----+------+---+-----+
| 08/06/08           | 4  |      | 4 |          | 2  |      | 1 |     |
|                    | 16 |      | 2 |          | ,5 |      | 0 |     |
|                    | ,1 |      | 0 |          | 75 |      | 9 |     |
|                    | 06 |      | , |          |    |      | . |     |
|                    |    |      | 9 |          |    |      | 3 |     |
|                    |    |      | 5 |          |    |      | 9 |     |
|                    |    |      | 3 |          |    |      |   |     |
+--------------------+----+------+---+----------+----+------+---+-----+
| 08/13/08           | 4  |      | 4 |          | 2  |      | 1 |     |
|                    | 25 |      | 3 |          | ,6 |      | 0 |     |
|                    | ,3 |      | 1 |          | 38 |      | 8 |     |
|                    | 14 |      | , |          |    |      | . |     |
|                    |    |      | 5 |          |    |      | 7 |     |
|                    |    |      | 9 |          |    |      | 1 |     |
|                    |    |      | 7 |          |    |      |   |     |
+--------------------+----+------+---+----------+----+------+---+-----+
| 08/20/08           | 4  |      | 4 |          | 2  |      | 1 |     |
|                    | 14 |      | 2 |          | ,6 |      | 0 |     |
|                    | ,8 |      | 0 |          | 37 |      | 9 |     |
|                    | 02 |      | , |          |    |      | . |     |
|                    |    |      | 0 |          |    |      | 9 |     |
|                    |    |      | 2 |          |    |      | 8 |     |
|                    |    |      | 7 |          |    |      |   |     |
+--------------------+----+------+---+----------+----+------+---+-----+
| 08/27/08           | 4  |      | 4 |          | 2  |      | 1 |     |
|                    | 27 |      | 3 |          | ,5 |      | 0 |     |
|                    | ,1 |      | 2 |          | 27 |      | 9 |     |
|                    | 08 |      | , |          |    |      | . |     |
|                    |    |      | 0 |          |    |      | 7 |     |
|                    |    |      | 5 |          |    |      | 2 |     |
|                    |    |      | 4 |          |    |      |   |     |
+--------------------+----+------+---+----------+----+------+---+-----+
|                    |    |      |   |          |    |      |   |     |
+--------------------+----+------+---+----------+----+------+---+-----+
| 09/03/08           | 4  |      | 4 |          | 2  |      | 1 |     |
|                    | 26 |      | 3 |          | ,5 |      | 0 |     |
|                    | ,5 |      | 0 |          | 34 |      | 8 |     |
|                    | 79 |      | , |          |    |      | . |     |
|                    |    |      | 6 |          |    |      | 1 |     |
|                    |    |      | 3 |          |    |      | 8 |     |
|                    |    |      | 6 |          |    |      |   |     |
+--------------------+----+------+---+----------+----+------+---+-----+
| 09/10/08           | 4  |      | 4 |          | 2  |      | 1 |     |
|                    | 51 |      | 5 |          | ,6 |      | 0 |     |
|                    | ,2 |      | 2 |          | 84 |      | 7 |     |
|                    | 95 |      | , |          |    |      | . |     |
|                    |    |      | 5 |          |    |      | 8 |     |
|                    |    |      | 5 |          |    |      | 6 |     |
|                    |    |      | 1 |          |    |      |   |     |
+--------------------+----+------+---+----------+----+------+---+-----+
| 09/17/08           | 3  |      | 3 |          | 2  |      | 1 |     |
|                    | 82 |      | 8 |          | ,7 |      | 0 |     |
|                    | ,0 |      | 7 |          | 41 |      | 4 |     |
|                    | 63 |      | , |          |    |      | . |     |
|                    |    |      | 6 |          |    |      | 7 |     |
|                    |    |      | 2 |          |    |      | 1 |     |
|                    |    |      | 9 |          |    |      |   |     |
+--------------------+----+------+---+----------+----+------+---+-----+
| 09/24/08           | 3  |      | 3 |          | 2  |      | 1 |     |
|                    | 89 |      | 9 |          | ,6 |      | 0 |     |
|                    | ,1 |      | 2 |          | 62 |      | 6 |     |
|                    | 66 |      | , |          |    |      | . |     |
|                    |    |      | 7 |          |    |      | 0 |     |
|                    |    |      | 8 |          |    |      | 3 |     |
|                    |    |      | 7 |          |    |      |   |     |
+--------------------+----+------+---+----------+----+------+---+-----+
|                    |    |      |   |          |    |      |   |     |
+--------------------+----+------+---+----------+----+------+---+-----+
| 10/01/08           | 3  |      | 3 |          | 2  |      | 1 |     |
|                    | 84 |      | 8 |          | ,8 |      | 0 |     |
|                    | ,4 |      | 6 |          | 81 |      | 6 |     |
|                    | 27 |      | , |          |    |      | . |     |
|                    |    |      | 6 |          |    |      | 0 |     |
|                    |    |      | 4 |          |    |      | 6 |     |
|                    |    |      | 3 |          |    |      |   |     |
+--------------------+----+------+---+----------+----+------+---+-----+
| 10/08/08           | 3  |      | 3 |          | 3  |      | 9 |     |
|                    | 93 |      | 9 |          | ,0 |      | 9 |     |
|                    | ,4 |      | 7 |          | 85 |      | . |     |
|                    | 29 |      | , |          |    |      | 7 |     |
|                    |    |      | 6 |          |    |      | 3 |     |
|                    |    |      | 7 |          |    |      |   |     |
|                    |    |      | 8 |          |    |      |   |     |
+--------------------+----+------+---+----------+----+------+---+-----+
| 10/15/08           | 3  |      | 3 |          | 2  |      | 1 |     |
|                    | 84 |      | 8 |          | ,7 |      | 0 |     |
|                    | ,5 |      | 7 |          | 42 |      | 1 |     |
|                    | 22 |      | , |          |    |      | . |     |
|                    |    |      | 9 |          |    |      | 4 |     |
|                    |    |      | 7 |          |    |      | 7 |     |
|                    |    |      | 8 |          |    |      |   |     |
+--------------------+----+------+---+----------+----+------+---+-----+
| 10/22/08           | 3  |      | 3 |          | 2  |      | 9 |     |
|                    | 82 |      | 8 |          | ,9 |      | 8 |     |
|                    | ,0 |      | 5 |          | 08 |      | . |     |
|                    | 81 |      | , |          |    |      | 6 |     |
|                    |    |      | 7 |          |    |      | 3 |     |
|                    |    |      | 9 |          |    |      |   |     |
|                    |    |      | 3 |          |    |      |   |     |
+--------------------+----+------+---+----------+----+------+---+-----+
| 10/29/08           | 3  |      | 3 |          | 2  |      | 9 |     |
|                    | 86 |      | 8 |          | ,9 |      | 7 |     |
|                    | ,3 |      | 8 |          | 89 |      | . |     |
|                    | 10 |      | , |          |    |      | 4 |     |
|                    |    |      | 4 |          |    |      | 8 |     |
|                    |    |      | 7 |          |    |      |   |     |
|                    |    |      | 0 |          |    |      |   |     |
+--------------------+----+------+---+----------+----+------+---+-----+
|                    |    |      |   |          |    |      |   |     |
+--------------------+----+------+---+----------+----+------+---+-----+
| 11/05/08           | 3  |      | 3 |          | 2  |      | 9 |     |
|                    | 82 |      | 8 |          | ,7 |      | 8 |     |
|                    | ,2 |      | 4 |          | 49 |      | . |     |
|                    | 29 |      | , |          |    |      | 9 |     |
|                    |    |      | 2 |          |    |      | 5 |     |
|                    |    |      | 1 |          |    |      |   |     |
|                    |    |      | 1 |          |    |      |   |     |
+--------------------+----+------+---+----------+----+------+---+-----+
| 11/12/08           | 3  |      | 3 |          | 2  |      | 9 |     |
|                    | 72 |      | 7 |          | ,9 |      | 5 |     |
|                    | ,6 |      | 6 |          | 90 |      | . |     |
|                    | 82 |      | , |          |    |      | 5 |     |
|                    |    |      | 9 |          |    |      | 4 |     |
|                    |    |      | 7 |          |    |      |   |     |
|                    |    |      | 8 |          |    |      |   |     |
+--------------------+----+------+---+----------+----+------+---+-----+
| 11/19/08           | 3  |      | 3 |          | 2  |      | 9 |     |
|                    | 72 |      | 7 |          | ,8 |      | 6 |     |
|                    | ,5 |      | 5 |          | 92 |      | . |     |
|                    | 67 |      | , |          |    |      | 7 |     |
|                    |    |      | 5 |          |    |      | 5 |     |
|                    |    |      | 9 |          |    |      |   |     |
|                    |    |      | 3 |          |    |      |   |     |
+--------------------+----+------+---+----------+----+------+---+-----+
| 11/26/08           | 3  |      | 3 |          | 3  |      | 9 |     |
|                    | 32 |      | 3 |          | ,3 |      | 5 |     |
|                    | ,4 |      | 6 |          | 08 |      | . |     |
|                    | 77 |      | , |          |    |      | 4 |     |
|                    |    |      | 1 |          |    |      | 6 |     |
|                    |    |      | 4 |          |    |      |   |     |
|                    |    |      | 9 |          |    |      |   |     |
+--------------------+----+------+---+----------+----+------+---+-----+
|                    |    |      |   |          |    |      |   |     |
+--------------------+----+------+---+----------+----+------+---+-----+
| 12/03/08           | 3  |      | 3 |          | 3  |      | 9 |     |
|                    | 61 |      | 6 |          | ,0 |      | 3 |     |
|                    | ,1 |      | 4 |          | 80 |      | . |     |
|                    | 31 |      | , |          |    |      | 2 |     |
|                    |    |      | 7 |          |    |      | 5 |     |
|                    |    |      | 4 |          |    |      |   |     |
|                    |    |      | 0 |          |    |      |   |     |
+--------------------+----+------+---+----------+----+------+---+-----+
| 12/10/08           | 3  |      | 3 |          | 2  |      | 9 |     |
|                    | 13 |      | 1 |          | ,3 |      | 2 |     |
|                    | ,7 |      | 6 |          | 42 |      | . |     |
|                    | 91 |      | , |          |    |      | 9 |     |
|                    |    |      | 3 |          |    |      | 4 |     |
|                    |    |      | 1 |          |    |      |   |     |
|                    |    |      | 0 |          |    |      |   |     |
+--------------------+----+------+---+----------+----+------+---+-----+
| 12/17/08           | 3  |      | 3 |          | 3  |      | 8 |     |
|                    | 25 |      | 3 |          | ,2 |      | 7 |     |
|                    | ,8 |      | 0 |          | 29 |      | . |     |
|                    | 64 |      | , |          |    |      | 8 |     |
|                    |    |      | 3 |          |    |      | 4 |     |
|                    |    |      | 1 |          |    |      |   |     |
|                    |    |      | 8 |          |    |      |   |     |
+--------------------+----+------+---+----------+----+------+---+-----+
| 12/24/08           | 2  |      | 2 |          | 3  |      | 9 |     |
|                    | 73 |      | 7 |          | ,1 |      | 0 |     |
|                    | ,7 |      | 8 |          | 80 |      | . |     |
|                    | 36 |      | , |          |    |      | 6 |     |
|                    |    |      | 1 |          |    |      | 8 |     |
|                    |    |      | 5 |          |    |      |   |     |
|                    |    |      | 4 |          |    |      |   |     |
+--------------------+----+------+---+----------+----+------+---+-----+
| 12/31/08           | 2  |      | 3 |          | 3  |      | 9 |     |
|                    | 95 |      | 0 |          | ,2 |      | 0 |     |
|                    | ,7 |      | 0 |          | 79 |      | . |     |
|                    | 48 |      | , |          |    |      | 7 |     |
|                    |    |      | 2 |          |    |      | 9 |     |
|                    |    |      | 6 |          |    |      |   |     |
|                    |    |      | 6 |          |    |      |   |     |
+--------------------+----+------+---+----------+----+------+---+-----+
|                    |    |      |   |          |    |      |   |     |
+--------------------+----+------+---+----------+----+------+---+-----+

<table>
<colgroup>
<col style="width: 14%" />
<col style="width: 8%" />
<col style="width: 0%" />
<col style="width: 0%" />
<col style="width: 9%" />
<col style="width: 0%" />
<col style="width: 6%" />
<col style="width: 0%" />
<col style="width: 7%" />
<col style="width: 0%" />
<col style="width: 1%" />
<col style="width: 7%" />
<col style="width: 0%" />
<col style="width: 8%" />
<col style="width: 0%" />
<col style="width: 1%" />
<col style="width: 5%" />
<col style="width: 0%" />
<col style="width: 1%" />
<col style="width: 7%" />
<col style="width: 0%" />
<col style="width: 0%" />
<col style="width: 1%" />
<col style="width: 5%" />
<col style="width: 1%" />
<col style="width: 10%" />
</colgroup>
<tbody>
<tr class="odd">
<td colspan="26"><h2 id="section-ii.japanese-yen-positions-con.">SECTION
II.—Japanese Yen Positions, con.</h2>
<h3
id="table-fcp-ii-2.monthly-report-of-major-market-participants">TABLE
FCP-II-2.—Monthly Report of Major Market Participants</h3>
<p>[In billions of Japanese yen. Source: Office of International
Monetary and Financial Policy]</p></td>
</tr>
<tr class="even">
<td rowspan="3">Report date</td>
<td colspan="4" rowspan="2">Spot, forward<br />
and future contracts</td>
<td colspan="6" rowspan="2">Foreign currency denominated</td>
<td colspan="14">Options positions</td>
<td rowspan="3">Exchange rate<br />
(Japanese yen per U.S. dollar)<br />
(10)</td>
</tr>
<tr class="odd">
<td colspan="5">Calls</td>
<td colspan="7">Puts</td>
<td colspan="2" rowspan="2">Net delta<br />
equivalent<br />
(9)</td>
</tr>
<tr class="even">
<td colspan="3">Purchased<br />
(1)</td>
<td>Sold<br />
(2)</td>
<td colspan="2">Assets<br />
(3)</td>
<td colspan="4">Liabilities<br />
(4)</td>
<td>Bought<br />
(5)</td>
<td colspan="4">Written<br />
(6)</td>
<td colspan="3">Bought<br />
(7)</td>
<td colspan="4">Written<br />
(8)</td>
</tr>
<tr class="odd">
<td></td>
<td></td>
<td colspan="3"></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td colspan="3"></td>
<td colspan="2"></td>
<td colspan="3"></td>
<td colspan="3"></td>
<td colspan="5"></td>
<td></td>
</tr>
<tr class="even">
<td>2006 - Dec</td>
<td colspan="2">326,745</td>
<td colspan="3">321,477</td>
<td>59,888</td>
<td colspan="3">61,243</td>
<td colspan="3">80,330</td>
<td colspan="2">84,922</td>
<td colspan="3">81,768</td>
<td colspan="4">78,511</td>
<td colspan="2">-1,538</td>
<td colspan="2">119.0200</td>
</tr>
<tr class="odd">
<td>2007 - Dec</td>
<td colspan="2">463,494</td>
<td colspan="3">462,366</td>
<td>69,975</td>
<td colspan="3">72,014</td>
<td colspan="3">112,480</td>
<td colspan="2">115,176</td>
<td colspan="3">122,042</td>
<td colspan="4">123,860</td>
<td colspan="2">761</td>
<td colspan="2">111.7100</td>
</tr>
<tr class="even">
<td>2008 - Jan</td>
<td colspan="2">490,030</td>
<td colspan="3">488,827</td>
<td>71,259</td>
<td colspan="3">73,463</td>
<td colspan="3">107,544</td>
<td colspan="2">112,513</td>
<td colspan="3">120,372</td>
<td colspan="4">116,450</td>
<td colspan="2">1,499</td>
<td colspan="2">106.7400</td>
</tr>
<tr class="odd">
<td><blockquote>
<p>Feb</p>
</blockquote></td>
<td colspan="2">495,368</td>
<td colspan="3">494,130</td>
<td>69,639</td>
<td colspan="3">71,944</td>
<td colspan="3">101,084</td>
<td colspan="2">108,656</td>
<td colspan="3">122,855</td>
<td colspan="4">117,542</td>
<td colspan="2">1,301</td>
<td colspan="2">104.1900</td>
</tr>
<tr class="even">
<td><blockquote>
<p>Mar</p>
</blockquote></td>
<td colspan="2">443,854</td>
<td colspan="3">446,334</td>
<td>72,918</td>
<td colspan="3">75,250</td>
<td colspan="3">97,540</td>
<td colspan="2">104,402</td>
<td colspan="3">120,219</td>
<td colspan="4">115,041</td>
<td colspan="2">1,795</td>
<td colspan="2">99.8500</td>
</tr>
<tr class="odd">
<td><blockquote>
<p>Apr</p>
</blockquote></td>
<td colspan="2">466,324</td>
<td colspan="3">469,942</td>
<td>65,225</td>
<td colspan="3">64,829</td>
<td colspan="3">99,022</td>
<td colspan="2">105,469</td>
<td colspan="3">126,044</td>
<td colspan="4">116,971</td>
<td colspan="2">1,886</td>
<td colspan="2">104.5300</td>
</tr>
<tr class="even">
<td><blockquote>
<p>May</p>
</blockquote></td>
<td colspan="2">461,438</td>
<td colspan="3">466,315</td>
<td>63,410</td>
<td colspan="3">62,519</td>
<td colspan="3">95,209</td>
<td colspan="2">99,745</td>
<td colspan="3">122,994</td>
<td colspan="4">116,228</td>
<td colspan="2">1,860</td>
<td colspan="2">105.4600</td>
</tr>
<tr class="odd">
<td><blockquote>
<p>June</p>
</blockquote></td>
<td colspan="2">439,162</td>
<td colspan="3">443,086</td>
<td>61,139</td>
<td colspan="3">61,095</td>
<td colspan="3">96,713</td>
<td colspan="2">97,406</td>
<td colspan="3">121,907</td>
<td colspan="4">120,939</td>
<td colspan="2">2,325</td>
<td colspan="2">106.1700</td>
</tr>
<tr class="even">
<td><blockquote>
<p>July</p>
</blockquote></td>
<td colspan="2">441,716</td>
<td colspan="3">446,651</td>
<td>60,836</td>
<td colspan="3">61,555</td>
<td colspan="3">88,992</td>
<td colspan="2">83,603</td>
<td colspan="3">108,585</td>
<td colspan="4">111,919</td>
<td colspan="2">2,760</td>
<td colspan="2">108.1000</td>
</tr>
<tr class="odd">
<td><blockquote>
<p>Aug</p>
</blockquote></td>
<td colspan="2">392,062</td>
<td colspan="3">396,748</td>
<td>63,062</td>
<td colspan="3">63,542</td>
<td colspan="3">85,876</td>
<td colspan="2">79,157</td>
<td colspan="3">104,878</td>
<td colspan="4">109,226</td>
<td colspan="2">2,497</td>
<td colspan="2">108.6900</td>
</tr>
<tr class="even">
<td><blockquote>
<p>Sept</p>
</blockquote></td>
<td colspan="2">423,091</td>
<td colspan="3">425,131</td>
<td>50,022</td>
<td colspan="3">53,276</td>
<td colspan="3">74,504</td>
<td colspan="2">66,723</td>
<td colspan="3">89,868</td>
<td colspan="4">94,721</td>
<td colspan="2">2,867</td>
<td colspan="2">105.9400</td>
</tr>
<tr class="odd">
<td><blockquote>
<p>Oct</p>
</blockquote></td>
<td colspan="2">412,583</td>
<td colspan="3">415,910</td>
<td>56,997</td>
<td colspan="3">55,756</td>
<td colspan="3">73,233</td>
<td colspan="2">63,856</td>
<td colspan="3">86,630</td>
<td colspan="4">93,689</td>
<td colspan="2">2,791</td>
<td colspan="2">98.2800</td>
</tr>
<tr class="even">
<td><blockquote>
<p>Nov</p>
</blockquote></td>
<td colspan="2">381,547</td>
<td colspan="3">385,268</td>
<td>54,011</td>
<td colspan="3">53,231</td>
<td colspan="3">68,158</td>
<td colspan="2">58,087</td>
<td colspan="3">79,887</td>
<td colspan="4">87,524</td>
<td colspan="2">3,307</td>
<td colspan="2">95.4600</td>
</tr>
<tr class="odd">
<td><blockquote>
<p>Dec</p>
</blockquote></td>
<td colspan="2">323,332</td>
<td colspan="3">327,005</td>
<td>56,606</td>
<td colspan="3">55,822</td>
<td colspan="3">64,185</td>
<td colspan="2">54,758</td>
<td colspan="3">75,507</td>
<td colspan="4">81,983</td>
<td colspan="2">3,295</td>
<td colspan="2">90.7900</td>
</tr>
<tr class="even">
<td></td>
<td></td>
<td colspan="4"></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td colspan="3"></td>
<td colspan="3"></td>
<td colspan="3"></td>
<td colspan="3"></td>
<td colspan="2"></td>
</tr>
</tbody>
</table>

<table style="width:100%;">
<colgroup>
<col style="width: 14%" />
<col style="width: 8%" />
<col style="width: 0%" />
<col style="width: 7%" />
<col style="width: 0%" />
<col style="width: 0%" />
<col style="width: 8%" />
<col style="width: 2%" />
<col style="width: 6%" />
<col style="width: 1%" />
<col style="width: 7%" />
<col style="width: 1%" />
<col style="width: 7%" />
<col style="width: 1%" />
<col style="width: 7%" />
<col style="width: 6%" />
<col style="width: 0%" />
<col style="width: 7%" />
<col style="width: 1%" />
<col style="width: 8%" />
<col style="width: 2%" />
</colgroup>
<tbody>
<tr class="odd">
<td colspan="21"><h3
id="table-fcp-ii-3.quarterly-report-of-large-market-participants">TABLE
FCP-II-3.—Quarterly Report of Large Market Participants</h3>
<p>[In billions of Japanese yen. Source: Office of International
Monetary and Financial Policy]</p></td>
</tr>
<tr class="even">
<td rowspan="3">Report date</td>
<td colspan="4" rowspan="2">Spot, forward<br />
and future contracts</td>
<td colspan="5" rowspan="2">Foreign currency denominated</td>
<td colspan="9">Options positions</td>
<td colspan="2" rowspan="3">Exchange rate<br />
(Japanese yen per U.S. dollar)<br />
(10)</td>
</tr>
<tr class="odd">
<td colspan="4">Calls</td>
<td colspan="3">Puts</td>
<td colspan="2" rowspan="2">Net delta<br />
equivalent<br />
(9)</td>
</tr>
<tr class="even">
<td colspan="2">Purchased<br />
(1)</td>
<td>Sold<br />
(2)</td>
<td colspan="4">Assets<br />
(3)</td>
<td colspan="2">Liabilities<br />
(4)</td>
<td colspan="2">Bought<br />
(5)</td>
<td colspan="2">Written<br />
(6)</td>
<td>Bought<br />
(7)</td>
<td colspan="2">Written<br />
(8)</td>
</tr>
<tr class="odd">
<td></td>
<td></td>
<td colspan="4"></td>
<td></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td></td>
</tr>
<tr class="even">
<td>2005 - Dec</td>
<td>8,359</td>
<td colspan="4">8,965</td>
<td>7,360</td>
<td colspan="2">3,943</td>
<td colspan="2">462</td>
<td colspan="2">469</td>
<td colspan="2">929</td>
<td>501</td>
<td colspan="2">-148</td>
<td colspan="2">117.88</td>
<td></td>
</tr>
<tr class="odd">
<td>2006 - Mar</td>
<td>9,571</td>
<td colspan="4">10,001</td>
<td>10,039</td>
<td colspan="2">6,016</td>
<td colspan="2">817</td>
<td colspan="2">n.a.</td>
<td colspan="2">1,041</td>
<td>n.a.</td>
<td colspan="2">-78</td>
<td colspan="2">117.48</td>
<td></td>
</tr>
<tr class="even">
<td><blockquote>
<p>June</p>
</blockquote></td>
<td>8,718</td>
<td colspan="4">8,903</td>
<td>7,932</td>
<td colspan="2">4,224</td>
<td colspan="2">1,061</td>
<td colspan="2">n.a.</td>
<td colspan="2">505</td>
<td>n.a.</td>
<td colspan="2">198</td>
<td colspan="2">114.51</td>
<td></td>
</tr>
<tr class="odd">
<td><blockquote>
<p>Sept</p>
</blockquote></td>
<td>8,643</td>
<td colspan="4">9,325</td>
<td>6,821</td>
<td colspan="2">3,439</td>
<td colspan="2">n.a.</td>
<td colspan="2">n.a.</td>
<td colspan="2">782</td>
<td>n.a.</td>
<td colspan="2">-57</td>
<td colspan="2">117.99</td>
<td></td>
</tr>
<tr class="even">
<td><blockquote>
<p>Dec</p>
</blockquote></td>
<td>9,336</td>
<td colspan="4">9,825</td>
<td>6,913</td>
<td colspan="2">4,069</td>
<td colspan="2">n.a.</td>
<td colspan="2">n.a.</td>
<td colspan="2">1,001</td>
<td>n.a.</td>
<td colspan="2">-239</td>
<td colspan="2">119.02</td>
<td></td>
</tr>
<tr class="odd">
<td>2007 - Mar</td>
<td>4,623</td>
<td colspan="4">5,036</td>
<td>6,174</td>
<td colspan="2">2,904</td>
<td colspan="2">910</td>
<td colspan="2">n.a.</td>
<td colspan="2">1,749</td>
<td>1,166</td>
<td colspan="2">-325</td>
<td colspan="2">117.56</td>
<td></td>
</tr>
<tr class="even">
<td><blockquote>
<p>June</p>
</blockquote></td>
<td>4,408</td>
<td colspan="4">5,575</td>
<td>7,442</td>
<td colspan="2">3,064</td>
<td colspan="2">n.a.</td>
<td colspan="2">n.a.</td>
<td colspan="2">2,210</td>
<td>n.a.</td>
<td colspan="2">n.a.</td>
<td colspan="2">123.39</td>
<td></td>
</tr>
<tr class="odd">
<td><blockquote>
<p>Sept</p>
</blockquote></td>
<td>5,039</td>
<td colspan="4">6,234</td>
<td>6,558</td>
<td colspan="2">2,808</td>
<td colspan="2">1,170</td>
<td colspan="2">518</td>
<td colspan="2">1,005</td>
<td>587</td>
<td colspan="2">n.a.</td>
<td colspan="2">114.97</td>
<td></td>
</tr>
<tr class="even">
<td><blockquote>
<p>Dec</p>
</blockquote></td>
<td>4,816</td>
<td colspan="4">5,798</td>
<td>6,497</td>
<td colspan="2">3,070</td>
<td colspan="2">761</td>
<td colspan="2">711</td>
<td colspan="2">988</td>
<td>896</td>
<td colspan="2">38</td>
<td colspan="2">111.71</td>
<td></td>
</tr>
<tr class="odd">
<td>2008 - Mar</td>
<td>5,441</td>
<td colspan="4">6,554</td>
<td>11,048</td>
<td colspan="2">2,696</td>
<td colspan="2">376</td>
<td colspan="2">340</td>
<td colspan="2">1,097</td>
<td>866</td>
<td colspan="2">58</td>
<td colspan="2">99.85</td>
<td></td>
</tr>
<tr class="even">
<td>June</td>
<td>7,419</td>
<td colspan="4">6,502</td>
<td>14,540</td>
<td colspan="2">3,121</td>
<td colspan="2">n.a.</td>
<td colspan="2">364</td>
<td colspan="2">1,027</td>
<td>549</td>
<td colspan="2">18</td>
<td colspan="2">106.17</td>
<td></td>
</tr>
<tr class="odd">
<td>Sept</td>
<td>6,210</td>
<td colspan="4">6,531</td>
<td>12,792</td>
<td colspan="2">3,175</td>
<td colspan="2">338</td>
<td colspan="2">356</td>
<td colspan="2">1,032</td>
<td>516</td>
<td colspan="2">13</td>
<td colspan="2">105.94</td>
<td></td>
</tr>
<tr class="even">
<td></td>
<td></td>
<td colspan="4"></td>
<td></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td></td>
</tr>
</tbody>
</table>

+--------------------+---+----------+----+-------+---+--------+----+-----+
| ##                 |   |          |    |       |   |        |    |     |
| SECTION III.---Swi |   |          |    |       |   |        |    |     |
| ss Franc Positions |   |          |    |       |   |        |    |     |
|                    |   |          |    |       |   |        |    |     |
| ### TABLE F        |   |          |    |       |   |        |    |     |
| CP-III-1.---Weekly |   |          |    |       |   |        |    |     |
|  Report of Major M |   |          |    |       |   |        |    |     |
| arket Participants |   |          |    |       |   |        |    |     |
|                    |   |          |    |       |   |        |    |     |
| \[In millions of   |   |          |    |       |   |        |    |     |
| Swiss francs.      |   |          |    |       |   |        |    |     |
| Source: Office of  |   |          |    |       |   |        |    |     |
| International      |   |          |    |       |   |        |    |     |
| Monetary and       |   |          |    |       |   |        |    |     |
| Financial Policy\] |   |          |    |       |   |        |    |     |
+--------------------+---+----------+----+-------+---+--------+----+-----+
|                    |   |          |    |       |   |        |    | Ex  |
|                    |   |          |    |       |   |        |    | cha |
|                    |   |          |    |       |   |        |    | nge |
|                    |   |          |    |       |   |        |    | r   |
|                    |   |          |    |       |   |        |    | ate |
|                    |   |          |    |       |   |        |    | (Sw |
|                    |   |          |    |       |   |        |    | iss |
|                    |   |          |    |       |   |        |    | fra |
|                    |   |          |    |       |   |        |    | ncs |
|                    |   |          |    |       |   |        |    | per |
|                    |   |          |    |       |   |        |    | U   |
|                    |   |          |    |       |   |        |    | .S. |
|                    |   |          |    |       |   |        |    | do  |
|                    |   |          |    |       |   |        |    | lla |
|                    |   |          |    |       |   |        |    | r)\ |
|                    |   |          |    |       |   |        |    | (4) |
+--------------------+---+----------+----+-------+---+--------+----+-----+
| Report date        |   | Spot,    |    |       |   | Net    |    |     |
|                    |   | forward  |    |       |   | o      |    |     |
|                    |   | and      |    |       |   | ptions |    |     |
|                    |   | future   |    |       |   | posi   |    |     |
|                    |   | c        |    |       |   | tions\ |    |     |
|                    |   | ontracts |    |       |   | (3)    |    |     |
+--------------------+---+----------+----+-------+---+--------+----+-----+
|                    |   | Pu       |    | Sold\ |   |        |    |     |
|                    |   | rchased\ |    | (2)   |   |        |    |     |
|                    |   | (1)      |    |       |   |        |    |     |
+--------------------+---+----------+----+-------+---+--------+----+-----+
|                    |   |          |    |       |   |        |    |     |
+--------------------+---+----------+----+-------+---+--------+----+-----+
| 07/09/08           | 9 |          | 9  |       | 5 |        | 1. |     |
|                    | 0 |          | 12 |       | , |        | 03 |     |
|                    | 9 |          | ,9 |       | 0 |        | 01 |     |
|                    | , |          | 42 |       | 3 |        |    |     |
|                    | 5 |          |    |       | 4 |        |    |     |
|                    | 1 |          |    |       |   |        |    |     |
|                    | 8 |          |    |       |   |        |    |     |
+--------------------+---+----------+----+-------+---+--------+----+-----+
| 07/16/08           | 9 |          | 9  |       | 5 |        | 1. |     |
|                    | 5 |          | 61 |       | , |        | 01 |     |
|                    | 6 |          | ,4 |       | 4 |        | 48 |     |
|                    | , |          | 63 |       | 5 |        |    |     |
|                    | 4 |          |    |       | 0 |        |    |     |
|                    | 8 |          |    |       |   |        |    |     |
|                    | 0 |          |    |       |   |        |    |     |
+--------------------+---+----------+----+-------+---+--------+----+-----+
| 07/23/08           | 9 |          | 9  |       | 5 |        | 1. |     |
|                    | 4 |          | 50 |       | , |        | 03 |     |
|                    | 5 |          | ,0 |       | 1 |        | 72 |     |
|                    | , |          | 69 |       | 2 |        |    |     |
|                    | 6 |          |    |       | 6 |        |    |     |
|                    | 6 |          |    |       |   |        |    |     |
|                    | 4 |          |    |       |   |        |    |     |
+--------------------+---+----------+----+-------+---+--------+----+-----+
| 07/30/08           | 9 |          | 9  |       | 5 |        | 1. |     |
|                    | 8 |          | 89 |       | , |        | 04 |     |
|                    | 4 |          | ,9 |       | 3 |        | 84 |     |
|                    | , |          | 75 |       | 7 |        |    |     |
|                    | 5 |          |    |       | 6 |        |    |     |
|                    | 3 |          |    |       |   |        |    |     |
|                    | 8 |          |    |       |   |        |    |     |
+--------------------+---+----------+----+-------+---+--------+----+-----+
|                    |   |          |    |       |   |        |    |     |
+--------------------+---+----------+----+-------+---+--------+----+-----+
| 08/06/08           | 9 |          | 9  |       | n |        | 1. |     |
|                    | 7 |          | 75 |       | . |        | 06 |     |
|                    | 1 |          | ,7 |       | a |        | 02 |     |
|                    | , |          | 39 |       | . |        |    |     |
|                    | 7 |          |    |       |   |        |    |     |
|                    | 0 |          |    |       |   |        |    |     |
|                    | 2 |          |    |       |   |        |    |     |
+--------------------+---+----------+----+-------+---+--------+----+-----+
| 08/13/08           | 9 |          | 9  |       | n |        | 1. |     |
|                    | 9 |          | 98 |       | . |        | 08 |     |
|                    | 2 |          | ,4 |       | a |        | 55 |     |
|                    | , |          | 28 |       | . |        |    |     |
|                    | 6 |          |    |       |   |        |    |     |
|                    | 2 |          |    |       |   |        |    |     |
|                    | 0 |          |    |       |   |        |    |     |
+--------------------+---+----------+----+-------+---+--------+----+-----+
| 08/20/08           | 9 |          | 1  |       | 4 |        | 1. |     |
|                    | 9 |          | ,0 |       | , |        | 10 |     |
|                    | 7 |          | 05 |       | 9 |        | 08 |     |
|                    | , |          | ,8 |       | 1 |        |    |     |
|                    | 6 |          | 73 |       | 3 |        |    |     |
|                    | 6 |          |    |       |   |        |    |     |
|                    | 9 |          |    |       |   |        |    |     |
+--------------------+---+----------+----+-------+---+--------+----+-----+
| 08/27/08           | 1 |          | 1  |       | 4 |        | 1. |     |
|                    | , |          | ,0 |       | , |        | 10 |     |
|                    | 0 |          | 33 |       | 4 |        | 09 |     |
|                    | 2 |          | ,5 |       | 2 |        |    |     |
|                    | 6 |          | 17 |       | 6 |        |    |     |
|                    | , |          |    |       |   |        |    |     |
|                    | 0 |          |    |       |   |        |    |     |
|                    | 1 |          |    |       |   |        |    |     |
|                    | 6 |          |    |       |   |        |    |     |
+--------------------+---+----------+----+-------+---+--------+----+-----+
|                    |   |          |    |       |   |        |    |     |
+--------------------+---+----------+----+-------+---+--------+----+-----+
| 09/03/08           | 1 |          | 1  |       | 4 |        | 1. |     |
|                    | , |          | ,0 |       | , |        | 10 |     |
|                    | 0 |          | 53 |       | 7 |        | 55 |     |
|                    | 4 |          | ,5 |       | 5 |        |    |     |
|                    | 5 |          | 47 |       | 6 |        |    |     |
|                    | , |          |    |       |   |        |    |     |
|                    | 5 |          |    |       |   |        |    |     |
|                    | 4 |          |    |       |   |        |    |     |
|                    | 5 |          |    |       |   |        |    |     |
+--------------------+---+----------+----+-------+---+--------+----+-----+
| 09/10/08           | 1 |          | 1  |       | 2 |        | 1. |     |
|                    | , |          | ,1 |       | , |        | 13 |     |
|                    | 0 |          | 00 |       | 2 |        | 60 |     |
|                    | 9 |          | ,4 |       | 6 |        |    |     |
|                    | 7 |          | 84 |       | 8 |        |    |     |
|                    | , |          |    |       |   |        |    |     |
|                    | 1 |          |    |       |   |        |    |     |
|                    | 8 |          |    |       |   |        |    |     |
|                    | 5 |          |    |       |   |        |    |     |
+--------------------+---+----------+----+-------+---+--------+----+-----+
| 09/17/08           | 8 |          | 8  |       | 3 |        | 1. |     |
|                    | 6 |          | 72 |       | , |        | 12 |     |
|                    | 5 |          | ,1 |       | 3 |        | 08 |     |
|                    | , |          | 29 |       | 4 |        |    |     |
|                    | 1 |          |    |       | 1 |        |    |     |
|                    | 9 |          |    |       |   |        |    |     |
|                    | 5 |          |    |       |   |        |    |     |
+--------------------+---+----------+----+-------+---+--------+----+-----+
| 09/24/08           | 8 |          | 8  |       | 4 |        | 1. |     |
|                    | 4 |          | 44 |       | , |        | 08 |     |
|                    | 1 |          | ,9 |       | 3 |        | 89 |     |
|                    | , |          | 77 |       | 8 |        |    |     |
|                    | 0 |          |    |       | 7 |        |    |     |
|                    | 5 |          |    |       |   |        |    |     |
|                    | 9 |          |    |       |   |        |    |     |
+--------------------+---+----------+----+-------+---+--------+----+-----+
|                    |   |          |    |       |   |        |    |     |
+--------------------+---+----------+----+-------+---+--------+----+-----+
| 10/01/08           | 8 |          | 8  |       | 3 |        | 1. |     |
|                    | 8 |          | 84 |       | , |        | 12 |     |
|                    | 3 |          | ,7 |       | 2 |        | 09 |     |
|                    | , |          | 44 |       | 0 |        |    |     |
|                    | 5 |          |    |       | 0 |        |    |     |
|                    | 8 |          |    |       |   |        |    |     |
|                    | 6 |          |    |       |   |        |    |     |
+--------------------+---+----------+----+-------+---+--------+----+-----+
| 10/08/08           | 9 |          | 9  |       | 3 |        | 1. |     |
|                    | 0 |          | 03 |       | , |        | 12 |     |
|                    | 0 |          | ,6 |       | 4 |        | 72 |     |
|                    | , |          | 61 |       | 6 |        |    |     |
|                    | 1 |          |    |       | 0 |        |    |     |
|                    | 2 |          |    |       |   |        |    |     |
|                    | 5 |          |    |       |   |        |    |     |
+--------------------+---+----------+----+-------+---+--------+----+-----+
| 10/15/08           | 9 |          | 9  |       | 1 |        | 1. |     |
|                    | 0 |          | 10 |       | , |        | 13 |     |
|                    | 9 |          | ,2 |       | 2 |        | 46 |     |
|                    | , |          | 34 |       | 2 |        |    |     |
|                    | 4 |          |    |       | 2 |        |    |     |
|                    | 6 |          |    |       |   |        |    |     |
|                    | 0 |          |    |       |   |        |    |     |
+--------------------+---+----------+----+-------+---+--------+----+-----+
| 10/22/08           | 9 |          | 9  |       | 1 |        | 1. |     |
|                    | 2 |          | 24 |       | , |        | 16 |     |
|                    | 1 |          | ,9 |       | 1 |        | 56 |     |
|                    | , |          | 84 |       | 8 |        |    |     |
|                    | 6 |          |    |       | 2 |        |    |     |
|                    | 7 |          |    |       |   |        |    |     |
|                    | 6 |          |    |       |   |        |    |     |
+--------------------+---+----------+----+-------+---+--------+----+-----+
| 10/29/08           | 9 |          | 9  |       | 1 |        | 1. |     |
|                    | 0 |          | 07 |       | , |        | 13 |     |
|                    | 3 |          | ,3 |       | 3 |        | 71 |     |
|                    | , |          | 28 |       | 7 |        |    |     |
|                    | 7 |          |    |       | 6 |        |    |     |
|                    | 3 |          |    |       |   |        |    |     |
|                    | 5 |          |    |       |   |        |    |     |
+--------------------+---+----------+----+-------+---+--------+----+-----+
|                    |   |          |    |       |   |        |    |     |
+--------------------+---+----------+----+-------+---+--------+----+-----+
| 11/05/08           | 8 |          | 8  |       | 3 |        | 1. |     |
|                    | 9 |          | 94 |       | 9 |        | 16 |     |
|                    | 5 |          | ,2 |       | 2 |        | 06 |     |
|                    | , |          | 56 |       |   |        |    |     |
|                    | 3 |          |    |       |   |        |    |     |
|                    | 4 |          |    |       |   |        |    |     |
|                    | 9 |          |    |       |   |        |    |     |
+--------------------+---+----------+----+-------+---+--------+----+-----+
| 11/12/08           | 8 |          | 8  |       | 5 |        | 1. |     |
|                    | 8 |          | 88 |       | 2 |        | 17 |     |
|                    | 7 |          | ,2 |       | 1 |        | 90 |     |
|                    | , |          | 23 |       |   |        |    |     |
|                    | 5 |          |    |       |   |        |    |     |
|                    | 7 |          |    |       |   |        |    |     |
|                    | 9 |          |    |       |   |        |    |     |
+--------------------+---+----------+----+-------+---+--------+----+-----+
| 11/19/08           | 8 |          | 8  |       | - |        | 1. |     |
|                    | 8 |          | 88 |       | 1 |        | 21 |     |
|                    | 9 |          | ,4 |       | , |        | 03 |     |
|                    | , |          | 91 |       | 2 |        |    |     |
|                    | 4 |          |    |       | 9 |        |    |     |
|                    | 8 |          |    |       | 4 |        |    |     |
|                    | 2 |          |    |       |   |        |    |     |
+--------------------+---+----------+----+-------+---+--------+----+-----+
| 11/26/08           | 7 |          | 7  |       | - |        | 1. |     |
|                    | 7 |          | 76 |       | 1 |        | 20 |     |
|                    | 5 |          | ,7 |       | , |        | 64 |     |
|                    | , |          | 80 |       | 3 |        |    |     |
|                    | 5 |          |    |       | 5 |        |    |     |
|                    | 3 |          |    |       | 5 |        |    |     |
|                    | 5 |          |    |       |   |        |    |     |
+--------------------+---+----------+----+-------+---+--------+----+-----+
|                    |   |          |    |       |   |        |    |     |
+--------------------+---+----------+----+-------+---+--------+----+-----+
| 12/03/08           | 8 |          | 8  |       | - |        | 1. |     |
|                    | 6 |          | 68 |       | 2 |        | 21 |     |
|                    | 7 |          | ,0 |       | , |        | 42 |     |
|                    | , |          | 53 |       | 0 |        |    |     |
|                    | 1 |          |    |       | 6 |        |    |     |
|                    | 2 |          |    |       | 1 |        |    |     |
|                    | 7 |          |    |       |   |        |    |     |
+--------------------+---+----------+----+-------+---+--------+----+-----+
| 12/10/08           | 8 |          | 8  |       | n |        | 1. |     |
|                    | 6 |          | 67 |       | . |        | 19 |     |
|                    | 6 |          | ,0 |       | a |        | 49 |     |
|                    | , |          | 47 |       | . |        |    |     |
|                    | 0 |          |    |       |   |        |    |     |
|                    | 7 |          |    |       |   |        |    |     |
|                    | 6 |          |    |       |   |        |    |     |
+--------------------+---+----------+----+-------+---+--------+----+-----+
| 12/17/08           | 7 |          | 7  |       | - |        | 1. |     |
|                    | 4 |          | 43 |       | 1 |        | 08 |     |
|                    | 5 |          | ,7 |       | , |        | 52 |     |
|                    | , |          | 22 |       | 0 |        |    |     |
|                    | 4 |          |    |       | 8 |        |    |     |
|                    | 9 |          |    |       | 5 |        |    |     |
|                    | 5 |          |    |       |   |        |    |     |
+--------------------+---+----------+----+-------+---+--------+----+-----+
| 12/24/08           | 6 |          | 6  |       | - |        | 1. |     |
|                    | 7 |          | 72 |       | 1 |        | 07 |     |
|                    | 3 |          | ,1 |       | , |        | 88 |     |
|                    | , |          | 65 |       | 0 |        |    |     |
|                    | 4 |          |    |       | 7 |        |    |     |
|                    | 9 |          |    |       | 2 |        |    |     |
|                    | 7 |          |    |       |   |        |    |     |
+--------------------+---+----------+----+-------+---+--------+----+-----+
| 12/31/08           | 6 |          | 6  |       | - |        | 1. |     |
|                    | 4 |          | 40 |       | 8 |        | 06 |     |
|                    | 2 |          | ,3 |       | 6 |        | 73 |     |
|                    | , |          | 73 |       | 1 |        |    |     |
|                    | 4 |          |    |       |   |        |    |     |
|                    | 4 |          |    |       |   |        |    |     |
|                    | 2 |          |    |       |   |        |    |     |
+--------------------+---+----------+----+-------+---+--------+----+-----+
|                    |   |          |    |       |   |        |    |     |
+--------------------+---+----------+----+-------+---+--------+----+-----+

<table style="width:100%;">
<colgroup>
<col style="width: 14%" />
<col style="width: 8%" />
<col style="width: 0%" />
<col style="width: 8%" />
<col style="width: 7%" />
<col style="width: 7%" />
<col style="width: 1%" />
<col style="width: 8%" />
<col style="width: 7%" />
<col style="width: 7%" />
<col style="width: 1%" />
<col style="width: 6%" />
<col style="width: 0%" />
<col style="width: 7%" />
<col style="width: 1%" />
<col style="width: 8%" />
<col style="width: 2%" />
</colgroup>
<tbody>
<tr class="odd">
<td colspan="17"><h2 id="section-iii.swiss-franc-positions-con.">SECTION
III.—Swiss Franc Positions, con.</h2>
<h3
id="table-fcp-iii-2.monthly-report-of-major-market-participants">TABLE
FCP-III-2.—Monthly Report of Major Market Participants</h3>
<p>[In millions of Swiss francs. Source: Office of International
Monetary and Financial Policy]</p></td>
</tr>
<tr class="even">
<td rowspan="3">Report date</td>
<td colspan="3" rowspan="2">Spot, forward<br />
and future contracts</td>
<td colspan="3" rowspan="2">Foreign currency denominated</td>
<td colspan="8">Options positions</td>
<td colspan="2" rowspan="3">Exchange rate<br />
(Swiss francs per U.S. dollar)<br />
(10)</td>
</tr>
<tr class="odd">
<td colspan="2">Calls</td>
<td colspan="4">Puts</td>
<td colspan="2" rowspan="2">Net delta<br />
equivalent<br />
(9)</td>
</tr>
<tr class="even">
<td>Purchased<br />
(1)</td>
<td colspan="2">Sold<br />
(2)</td>
<td>Assets<br />
(3)</td>
<td colspan="2">Liabilities<br />
(4)</td>
<td>Bought<br />
(5)</td>
<td>Written<br />
(6)</td>
<td colspan="2">Bought<br />
(7)</td>
<td colspan="2">Written<br />
(8)</td>
</tr>
<tr class="odd">
<td></td>
<td colspan="2"></td>
<td></td>
<td></td>
<td></td>
<td colspan="2"></td>
<td></td>
<td></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td></td>
</tr>
<tr class="even">
<td>2006 - Dec</td>
<td colspan="2">603,056</td>
<td>627,243</td>
<td>79,535</td>
<td>75,067</td>
<td colspan="2">132,261</td>
<td>124,219</td>
<td>155,127</td>
<td colspan="2">164,475</td>
<td colspan="2">n.a.</td>
<td colspan="2">1.2195</td>
<td></td>
</tr>
<tr class="odd">
<td>2007 - Dec</td>
<td colspan="2">981,030</td>
<td>987,962</td>
<td>95,668</td>
<td>96,554</td>
<td colspan="2">296,139</td>
<td>295,801</td>
<td>258,017</td>
<td colspan="2">244,868</td>
<td colspan="2">4,527</td>
<td colspan="2">1.1329</td>
<td></td>
</tr>
<tr class="even">
<td>2008 - Jan</td>
<td colspan="2">1,183,779</td>
<td>1,190,500</td>
<td>94,103</td>
<td>93,353</td>
<td colspan="2">298,632</td>
<td>296,744</td>
<td>271,835</td>
<td colspan="2">261,703</td>
<td colspan="2">6,042</td>
<td colspan="2">1.0845</td>
<td></td>
</tr>
<tr class="odd">
<td><blockquote>
<p>Feb</p>
</blockquote></td>
<td colspan="2">1,247,179</td>
<td>1,246,541</td>
<td>98,182</td>
<td>103,160</td>
<td colspan="2">303,261</td>
<td>296,929</td>
<td>272,978</td>
<td colspan="2">261,076</td>
<td colspan="2">6,329</td>
<td colspan="2">1.0435</td>
<td></td>
</tr>
<tr class="even">
<td><blockquote>
<p>Mar</p>
</blockquote></td>
<td colspan="2">1,023,038</td>
<td>1,024,562</td>
<td>89,945</td>
<td>94,181</td>
<td colspan="2">312,854</td>
<td>311,534</td>
<td>279,277</td>
<td colspan="2">264,442</td>
<td colspan="2">4,678</td>
<td colspan="2">0.9921</td>
<td></td>
</tr>
<tr class="odd">
<td><blockquote>
<p>Apr</p>
</blockquote></td>
<td colspan="2">1,066,288</td>
<td>1,070,771</td>
<td>90,352</td>
<td>95,096</td>
<td colspan="2">321,797</td>
<td>313,672</td>
<td>288,797</td>
<td colspan="2">276,183</td>
<td colspan="2">9,454</td>
<td colspan="2">1.0422</td>
<td></td>
</tr>
<tr class="even">
<td><blockquote>
<p>May</p>
</blockquote></td>
<td colspan="2">1,077,285</td>
<td>1,083,612</td>
<td>81,621</td>
<td>87,293</td>
<td colspan="2">237,148</td>
<td>240,622</td>
<td>292,500</td>
<td colspan="2">270,968</td>
<td colspan="2">7,882</td>
<td colspan="2">1.0426</td>
<td></td>
</tr>
<tr class="odd">
<td><blockquote>
<p>June</p>
</blockquote></td>
<td colspan="2">961,572</td>
<td>965,153</td>
<td>78,608</td>
<td>85,377</td>
<td colspan="2">240,478</td>
<td>248,576</td>
<td>288,702</td>
<td colspan="2">261,523</td>
<td colspan="2">4,852</td>
<td colspan="2">1.0202</td>
<td></td>
</tr>
<tr class="even">
<td><blockquote>
<p>July</p>
</blockquote></td>
<td colspan="2">1,023,986</td>
<td>1,028,303</td>
<td>81,469</td>
<td>84,695</td>
<td colspan="2">236,083</td>
<td>228,418</td>
<td>256,053</td>
<td colspan="2">248,205</td>
<td colspan="2">4,984</td>
<td colspan="2">1.0489</td>
<td></td>
</tr>
<tr class="odd">
<td><blockquote>
<p>Aug</p>
</blockquote></td>
<td colspan="2">912,341</td>
<td>918,638</td>
<td>80,549</td>
<td>87,292</td>
<td colspan="2">235,362</td>
<td>n.a.</td>
<td>n.a.</td>
<td colspan="2">241,288</td>
<td colspan="2">3,827</td>
<td colspan="2">1.1019</td>
<td></td>
</tr>
<tr class="even">
<td><blockquote>
<p>Sept</p>
</blockquote></td>
<td colspan="2">932,559</td>
<td>935,518</td>
<td>63,284</td>
<td>64,874</td>
<td colspan="2">220,343</td>
<td>n.a.</td>
<td>n.a.</td>
<td colspan="2">222,942</td>
<td colspan="2">3,158</td>
<td colspan="2">1.1189</td>
<td></td>
</tr>
<tr class="odd">
<td><blockquote>
<p>Oct</p>
</blockquote></td>
<td colspan="2">937,246</td>
<td>948,889</td>
<td>75,393</td>
<td>78,075</td>
<td colspan="2">196,983</td>
<td>184,747</td>
<td>191,872</td>
<td colspan="2">194,011</td>
<td colspan="2">-1,471</td>
<td colspan="2">1.1669</td>
<td></td>
</tr>
<tr class="even">
<td><blockquote>
<p>Nov</p>
</blockquote></td>
<td colspan="2">886,183</td>
<td>887,457</td>
<td>75,284</td>
<td>75,755</td>
<td colspan="2">178,017</td>
<td>171,105</td>
<td>188,261</td>
<td colspan="2">190,888</td>
<td colspan="2">-2,266</td>
<td colspan="2">1.2165</td>
<td></td>
</tr>
<tr class="odd">
<td><blockquote>
<p>Dec</p>
</blockquote></td>
<td colspan="2">685,168</td>
<td>683,919</td>
<td>65,440</td>
<td>69,021</td>
<td colspan="2">162,230</td>
<td>158,197</td>
<td>175,827</td>
<td colspan="2">178,706</td>
<td colspan="2">-1,352</td>
<td colspan="2">1.0673</td>
<td></td>
</tr>
<tr class="even">
<td></td>
<td colspan="2"></td>
<td></td>
<td></td>
<td></td>
<td colspan="2"></td>
<td></td>
<td></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td></td>
</tr>
</tbody>
</table>

<table style="width:100%;">
<colgroup>
<col style="width: 14%" />
<col style="width: 8%" />
<col style="width: 0%" />
<col style="width: 7%" />
<col style="width: 1%" />
<col style="width: 7%" />
<col style="width: 1%" />
<col style="width: 7%" />
<col style="width: 7%" />
<col style="width: 1%" />
<col style="width: 7%" />
<col style="width: 1%" />
<col style="width: 7%" />
<col style="width: 6%" />
<col style="width: 0%" />
<col style="width: 7%" />
<col style="width: 1%" />
<col style="width: 8%" />
<col style="width: 2%" />
</colgroup>
<tbody>
<tr class="odd">
<td colspan="19"><h3
id="table-fcp-iii-3.quarterly-report-of-large-market-participants">TABLE
FCP-III-3.—Quarterly Report of Large Market Participants</h3>
<p>[In millions of Swiss francs. Source: Office of International
Monetary and Financial Policy]</p></td>
</tr>
<tr class="even">
<td rowspan="3">Report date</td>
<td colspan="4" rowspan="2">Spot, forward<br />
and future contracts</td>
<td colspan="3" rowspan="2">Foreign currency denominated</td>
<td colspan="9">Options positions</td>
<td colspan="2" rowspan="3">Exchange rate<br />
(Swiss francs per U.S. dollar)<br />
(10)</td>
</tr>
<tr class="odd">
<td colspan="4">Calls</td>
<td colspan="3">Puts</td>
<td colspan="2" rowspan="2">Net delta<br />
equivalent<br />
(9)</td>
</tr>
<tr class="even">
<td colspan="2">Purchased<br />
(1)</td>
<td colspan="2">Sold<br />
(2)</td>
<td colspan="2">Assets<br />
(3)</td>
<td>Liabilities<br />
(4)</td>
<td colspan="2">Bought<br />
(5)</td>
<td colspan="2">Written<br />
(6)</td>
<td>Bought<br />
(7)</td>
<td colspan="2">Written<br />
(8)</td>
</tr>
<tr class="odd">
<td></td>
<td></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td></td>
</tr>
<tr class="even">
<td>2005 - Dec</td>
<td>13,695</td>
<td colspan="2">23,402</td>
<td colspan="2">42,747</td>
<td colspan="2">10,432</td>
<td>745</td>
<td colspan="2">n.a.</td>
<td colspan="2">689</td>
<td>517</td>
<td colspan="2">82</td>
<td colspan="2">1.3148</td>
<td></td>
</tr>
<tr class="odd">
<td>2006 - Mar</td>
<td>19,986</td>
<td colspan="2">28,587</td>
<td colspan="2">41,674</td>
<td colspan="2">11,025</td>
<td>n.a.</td>
<td colspan="2">n.a.</td>
<td colspan="2">745</td>
<td>575</td>
<td colspan="2">n.a.</td>
<td colspan="2">1.3025</td>
<td></td>
</tr>
<tr class="even">
<td>June</td>
<td>17,463</td>
<td colspan="2">20,886</td>
<td colspan="2">45,077</td>
<td colspan="2">11,561</td>
<td>n.a.</td>
<td colspan="2">n.a.</td>
<td colspan="2">623</td>
<td>479</td>
<td colspan="2">n.a.</td>
<td colspan="2">1.2247</td>
<td></td>
</tr>
<tr class="odd">
<td>Sept</td>
<td>16,524</td>
<td colspan="2">23,319</td>
<td colspan="2">44,741</td>
<td colspan="2">11,124</td>
<td>n.a.</td>
<td colspan="2">n.a.</td>
<td colspan="2">1,099</td>
<td>590</td>
<td colspan="2">n.a.</td>
<td colspan="2">1.2504</td>
<td></td>
</tr>
<tr class="even">
<td>Dec</td>
<td>19,099</td>
<td colspan="2">26,282</td>
<td colspan="2">46,317</td>
<td colspan="2">11,031</td>
<td>n.a.</td>
<td colspan="2">n.a.</td>
<td colspan="2">n.a.</td>
<td>n.a.</td>
<td colspan="2">n.a.</td>
<td colspan="2">1.2195</td>
<td></td>
</tr>
<tr class="odd">
<td>2007 - Mar</td>
<td>23,188</td>
<td colspan="2">25,040</td>
<td colspan="2">47,552</td>
<td colspan="2">13,441</td>
<td>1,819</td>
<td colspan="2">n.a.</td>
<td colspan="2">n.a.</td>
<td>n.a.</td>
<td colspan="2">n.a.</td>
<td colspan="2">1.2126</td>
<td></td>
</tr>
<tr class="even">
<td>June</td>
<td>16,511</td>
<td colspan="2">23,187</td>
<td colspan="2">46,886</td>
<td colspan="2">14,061</td>
<td>855</td>
<td colspan="2">n.a.</td>
<td colspan="2">n.a.</td>
<td>n.a.</td>
<td colspan="2">n.a.</td>
<td colspan="2">1.224</td>
<td></td>
</tr>
<tr class="odd">
<td>Sept</td>
<td>20,823</td>
<td colspan="2">24,139</td>
<td colspan="2">46,837</td>
<td colspan="2">13,612</td>
<td>2,422</td>
<td colspan="2">n.a.</td>
<td colspan="2">596</td>
<td>n.a.</td>
<td colspan="2">136</td>
<td colspan="2">1.1672</td>
<td></td>
</tr>
<tr class="even">
<td>Dec</td>
<td>15,134</td>
<td colspan="2">20,077</td>
<td colspan="2">46,339</td>
<td colspan="2">10,338</td>
<td>584</td>
<td colspan="2">283</td>
<td colspan="2">535</td>
<td>324</td>
<td colspan="2">-69</td>
<td colspan="2">1.1329</td>
<td></td>
</tr>
<tr class="odd">
<td>2008 - Mar</td>
<td>21,491</td>
<td colspan="2">29,248</td>
<td colspan="2">49,284</td>
<td colspan="2">10,785</td>
<td>1,166</td>
<td colspan="2">679</td>
<td colspan="2">1,589</td>
<td>696</td>
<td colspan="2">-16</td>
<td colspan="2">0.9921</td>
<td></td>
</tr>
<tr class="even">
<td>June</td>
<td>16,727</td>
<td colspan="2">26,727</td>
<td colspan="2">62,191</td>
<td colspan="2">10,566</td>
<td>n.a.</td>
<td colspan="2">n.a.</td>
<td colspan="2">2,031</td>
<td>n.a.</td>
<td colspan="2">-24</td>
<td colspan="2">1.0202</td>
<td></td>
</tr>
<tr class="odd">
<td>Sept</td>
<td>15,914</td>
<td colspan="2">28,874</td>
<td colspan="2">62,698</td>
<td colspan="2">12,101</td>
<td>n.a.</td>
<td colspan="2">n.a.</td>
<td colspan="2">1,025</td>
<td>518</td>
<td colspan="2">-</td>
<td colspan="2">1.1189</td>
<td></td>
</tr>
<tr class="even">
<td></td>
<td></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td></td>
</tr>
</tbody>
</table>

<table style="width:100%;">
<colgroup>
<col style="width: 29%" />
<col style="width: 3%" />
<col style="width: 1%" />
<col style="width: 14%" />
<col style="width: 7%" />
<col style="width: 10%" />
<col style="width: 4%" />
<col style="width: 10%" />
<col style="width: 5%" />
<col style="width: 10%" />
<col style="width: 1%" />
</colgroup>
<tbody>
<tr class="odd">
<td colspan="11"><h2 id="section-iv.sterling-positions">SECTION
IV.—Sterling Positions</h2>
<h3 id="table-fcp-iv-1.weekly-report-of-major-market-participants">TABLE
FCP-IV-1.—Weekly Report of Major Market Participants</h3>
<p>[In millions of pounds sterling. Source: Office of International
Monetary and Financial Policy]</p></td>
</tr>
<tr class="even">
<td colspan="3"></td>
<td colspan="4"></td>
<td colspan="2"></td>
<td colspan="2" rowspan="3">Exchange<br />
rate (U.S.<br />
dollars per pound)<br />
(4)</td>
</tr>
<tr class="odd">
<td colspan="2" rowspan="2">Report date</td>
<td colspan="5">Spot, forward and future contracts</td>
<td colspan="2" rowspan="2">Net options positions<br />
(3)</td>
</tr>
<tr class="even">
<td colspan="3">Purchased<br />
(1)</td>
<td colspan="2">Sold<br />
(2)</td>
</tr>
<tr class="odd">
<td></td>
<td colspan="3"></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td colspan="3"></td>
</tr>
<tr class="even">
<td>07/09/08</td>
<td colspan="3">1,140,132</td>
<td colspan="2">1,133,802</td>
<td colspan="2">697</td>
<td colspan="2">1.9812</td>
<td></td>
</tr>
<tr class="odd">
<td>07/16/08</td>
<td colspan="3">1,168,710</td>
<td colspan="2">1,165,979</td>
<td colspan="2">1,265</td>
<td colspan="2">1.9995</td>
<td></td>
</tr>
<tr class="even">
<td>07/23/08</td>
<td colspan="3">1,191,908</td>
<td colspan="2">1,189,965</td>
<td colspan="2">2,274</td>
<td colspan="2">2.0021</td>
<td></td>
</tr>
<tr class="odd">
<td>07/30/08</td>
<td colspan="3">1,218,653</td>
<td colspan="2">1,209,927</td>
<td colspan="2">2,090</td>
<td colspan="2">1.9810</td>
<td></td>
</tr>
<tr class="even">
<td></td>
<td colspan="3"></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td></td>
</tr>
<tr class="odd">
<td>08/06/08</td>
<td colspan="3">1,202,671</td>
<td colspan="2">1,191,078</td>
<td colspan="2">1,728</td>
<td colspan="2">1.9479</td>
<td></td>
</tr>
<tr class="even">
<td>08/13/08</td>
<td colspan="3">1,303,419</td>
<td colspan="2">1,291,700</td>
<td colspan="2">1,464</td>
<td colspan="2">1.8682</td>
<td></td>
</tr>
<tr class="odd">
<td>08/20/08</td>
<td colspan="3">1,232,568</td>
<td colspan="2">1,218,348</td>
<td colspan="2">608</td>
<td colspan="2">1.8603</td>
<td></td>
</tr>
<tr class="even">
<td>08/27/08</td>
<td colspan="3">1,243,362</td>
<td colspan="2">1,226,769</td>
<td colspan="2">635</td>
<td colspan="2">1.8318</td>
<td></td>
</tr>
<tr class="odd">
<td></td>
<td colspan="3"></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td></td>
</tr>
<tr class="even">
<td>09/03/08</td>
<td colspan="3">1,271,133</td>
<td colspan="2">1,255,472</td>
<td colspan="2">377</td>
<td colspan="2">1.7795</td>
<td></td>
</tr>
<tr class="odd">
<td>09/10/08</td>
<td colspan="3">1,374,085</td>
<td colspan="2">1,359,060</td>
<td colspan="2">-443</td>
<td colspan="2">1.7547</td>
<td></td>
</tr>
<tr class="even">
<td>09/17/08</td>
<td colspan="3">1,170,684</td>
<td colspan="2">1,161,230</td>
<td colspan="2">-53</td>
<td colspan="2">1.7895</td>
<td></td>
</tr>
<tr class="odd">
<td>09/24/08</td>
<td colspan="3">1,150,411</td>
<td colspan="2">1,147,325</td>
<td colspan="2">1,361</td>
<td colspan="2">1.8502</td>
<td></td>
</tr>
<tr class="even">
<td></td>
<td colspan="3"></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td></td>
</tr>
<tr class="odd">
<td>10/01/08</td>
<td colspan="3">1,159,986</td>
<td colspan="2">1,160,481</td>
<td colspan="2">177</td>
<td colspan="2">1.7804</td>
<td></td>
</tr>
<tr class="even">
<td>10/08/08</td>
<td colspan="3">1,242,053</td>
<td colspan="2">1,252,501</td>
<td colspan="2">31</td>
<td colspan="2">1.7310</td>
<td></td>
</tr>
<tr class="odd">
<td>10/15/08</td>
<td colspan="3">1,281,561</td>
<td colspan="2">1,294,176</td>
<td colspan="2">558</td>
<td colspan="2">1.7432</td>
<td></td>
</tr>
<tr class="even">
<td>10/22/08</td>
<td colspan="3">1,298,510</td>
<td colspan="2">1,307,541</td>
<td colspan="2">439</td>
<td colspan="2">1.6174</td>
<td></td>
</tr>
<tr class="odd">
<td>10/29/08</td>
<td colspan="3">1,310,136</td>
<td colspan="2">1,316,620</td>
<td colspan="2">71</td>
<td colspan="2">1.6298</td>
<td></td>
</tr>
<tr class="even">
<td></td>
<td colspan="3"></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td></td>
</tr>
<tr class="odd">
<td>11/05/08</td>
<td colspan="3">1,259,363</td>
<td colspan="2">1,268,493</td>
<td colspan="2">524</td>
<td colspan="2">1.6156</td>
<td></td>
</tr>
<tr class="even">
<td>11/12/08</td>
<td colspan="3">1,177,359</td>
<td colspan="2">1,186,430</td>
<td colspan="2">1,138</td>
<td colspan="2">1.5012</td>
<td></td>
</tr>
<tr class="odd">
<td>11/19/08</td>
<td colspan="3">1,186,243</td>
<td colspan="2">1,194,288</td>
<td colspan="2">1,610</td>
<td colspan="2">1.5095</td>
<td></td>
</tr>
<tr class="even">
<td>11/26/08</td>
<td colspan="3">1,075,768</td>
<td colspan="2">1,084,707</td>
<td colspan="2">719</td>
<td colspan="2">1.5218</td>
<td></td>
</tr>
<tr class="odd">
<td></td>
<td colspan="3"></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td></td>
</tr>
<tr class="even">
<td>12/03/08</td>
<td colspan="3">1,179,362</td>
<td colspan="2">1,190,664</td>
<td colspan="2">-443</td>
<td colspan="2">1.4783</td>
<td></td>
</tr>
<tr class="odd">
<td>12/10/08</td>
<td colspan="3">1,099,673</td>
<td colspan="2">1,110,567</td>
<td colspan="2">-274</td>
<td colspan="2">1.4830</td>
<td></td>
</tr>
<tr class="even">
<td>12/17/08</td>
<td colspan="3">1,058,085</td>
<td colspan="2">1,073,014</td>
<td colspan="2">179</td>
<td colspan="2">1.5457</td>
<td></td>
</tr>
<tr class="odd">
<td>12/24/08</td>
<td colspan="3">965,024</td>
<td colspan="2">981,579</td>
<td colspan="2">559</td>
<td colspan="2">1.4673</td>
<td></td>
</tr>
<tr class="even">
<td>12/31/08</td>
<td colspan="3">957,371</td>
<td colspan="2">972,208</td>
<td colspan="2">304</td>
<td colspan="2">1.4619</td>
<td></td>
</tr>
<tr class="odd">
<td></td>
<td colspan="3"></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td></td>
</tr>
</tbody>
</table>

<table style="width:100%;">
<colgroup>
<col style="width: 14%" />
<col style="width: 8%" />
<col style="width: 0%" />
<col style="width: 7%" />
<col style="width: 1%" />
<col style="width: 6%" />
<col style="width: 0%" />
<col style="width: 7%" />
<col style="width: 1%" />
<col style="width: 7%" />
<col style="width: 8%" />
<col style="width: 2%" />
<col style="width: 5%" />
<col style="width: 1%" />
<col style="width: 6%" />
<col style="width: 2%" />
<col style="width: 6%" />
<col style="width: 1%" />
<col style="width: 8%" />
<col style="width: 2%" />
</colgroup>
<tbody>
<tr class="odd">
<td colspan="20"><h2 id="section-iv.sterling-positions-con.">SECTION
IV.—Sterling Positions, con.</h2>
<h3
id="table-fcp-iv-2.monthly-report-of-major-market-participants">TABLE
FCP-IV-2.—Monthly Report of Major Market Participants</h3>
<p>[In millions of pounds sterling. Source: Office of International
Monetary and Financial Policy]</p></td>
</tr>
<tr class="even">
<td rowspan="3">Report date</td>
<td colspan="4" rowspan="2">Spot, forward<br />
and future contracts</td>
<td colspan="4" rowspan="2">Foreign currency denominated</td>
<td colspan="9">Options positions</td>
<td colspan="2" rowspan="3">Exchange rate<br />
(U.S. dollars<br />
per pound)<br />
(10)</td>
</tr>
<tr class="odd">
<td colspan="3">Calls</td>
<td colspan="4">Puts</td>
<td colspan="2" rowspan="2">Net delta<br />
equivalent<br />
(9)</td>
</tr>
<tr class="even">
<td colspan="2">Purchased<br />
(1)</td>
<td colspan="2">Sold<br />
(2)</td>
<td colspan="2">Assets<br />
(3)</td>
<td colspan="2">Liabilities<br />
(4)</td>
<td>Bought<br />
(5)</td>
<td colspan="2">Written<br />
(6)</td>
<td colspan="2">Bought<br />
(7)</td>
<td colspan="2">Written<br />
(8)</td>
</tr>
<tr class="odd">
<td></td>
<td></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td></td>
</tr>
<tr class="even">
<td>2006 - Dec</td>
<td>813,178</td>
<td colspan="2">846,452</td>
<td colspan="2">400,194</td>
<td colspan="2">350,140</td>
<td colspan="2">81,276</td>
<td>73,370</td>
<td colspan="2">78,380</td>
<td colspan="2">80,387</td>
<td colspan="2">2,269</td>
<td colspan="2">1.9586</td>
<td></td>
</tr>
<tr class="odd">
<td>2007 - Dec</td>
<td>1,106,323</td>
<td colspan="2">1,121,684</td>
<td colspan="2">450,883</td>
<td colspan="2">372,556</td>
<td colspan="2">80,197</td>
<td>69,881</td>
<td colspan="2">93,248</td>
<td colspan="2">103,301</td>
<td colspan="2">3,400</td>
<td colspan="2">1.9843</td>
<td></td>
</tr>
<tr class="even">
<td>2008 - Jan</td>
<td>1,220,025</td>
<td colspan="2">1,231,394</td>
<td colspan="2">463,681</td>
<td colspan="2">374,928</td>
<td colspan="2">76,989</td>
<td>66,042</td>
<td colspan="2">110,200</td>
<td colspan="2">119,264</td>
<td colspan="2">1,464</td>
<td colspan="2">1.9895</td>
<td></td>
</tr>
<tr class="odd">
<td><blockquote>
<p>Feb</p>
</blockquote></td>
<td>1,245,182</td>
<td colspan="2">1,249,918</td>
<td colspan="2">471,218</td>
<td colspan="2">368,666</td>
<td colspan="2">78,323</td>
<td>67,643</td>
<td colspan="2">114,945</td>
<td colspan="2">125,253</td>
<td colspan="2">1,878</td>
<td colspan="2">1.9864</td>
<td></td>
</tr>
<tr class="even">
<td><blockquote>
<p>Mar</p>
</blockquote></td>
<td>1,173,412</td>
<td colspan="2">1,179,272</td>
<td colspan="2">474,291</td>
<td colspan="2">375,421</td>
<td colspan="2">80,102</td>
<td>69,629</td>
<td colspan="2">124,441</td>
<td colspan="2">139,517</td>
<td colspan="2">1,339</td>
<td colspan="2">1.9855</td>
<td></td>
</tr>
<tr class="odd">
<td><blockquote>
<p>Apr</p>
</blockquote></td>
<td>1,201,518</td>
<td colspan="2">1,207,229</td>
<td colspan="2">506,423</td>
<td colspan="2">359,458</td>
<td colspan="2">82,412</td>
<td>67,934</td>
<td colspan="2">123,659</td>
<td colspan="2">139,813</td>
<td colspan="2">-310</td>
<td colspan="2">1.9847</td>
<td></td>
</tr>
<tr class="even">
<td><blockquote>
<p>May</p>
</blockquote></td>
<td>1,246,155</td>
<td colspan="2">1,248,506</td>
<td colspan="2">479,557</td>
<td colspan="2">332,747</td>
<td colspan="2">84,379</td>
<td>68,920</td>
<td colspan="2">111,410</td>
<td colspan="2">126,483</td>
<td colspan="2">-1,069</td>
<td colspan="2">1.9793</td>
<td></td>
</tr>
<tr class="odd">
<td><blockquote>
<p>June</p>
</blockquote></td>
<td>1,172,121</td>
<td colspan="2">1,168,789</td>
<td colspan="2">470,463</td>
<td colspan="2">331,253</td>
<td colspan="2">72,241</td>
<td>58,749</td>
<td colspan="2">91,843</td>
<td colspan="2">104,769</td>
<td colspan="2">-473</td>
<td colspan="2">1.9906</td>
<td></td>
</tr>
<tr class="even">
<td><blockquote>
<p>July</p>
</blockquote></td>
<td>1,235,398</td>
<td colspan="2">1,232,045</td>
<td colspan="2">500,469</td>
<td colspan="2">357,565</td>
<td colspan="2">61,446</td>
<td>56,791</td>
<td colspan="2">90,511</td>
<td colspan="2">92,519</td>
<td colspan="2">1,717</td>
<td colspan="2">1.9806</td>
<td></td>
</tr>
<tr class="odd">
<td><blockquote>
<p>Aug</p>
</blockquote></td>
<td>1,120,945</td>
<td colspan="2">1,110,838</td>
<td colspan="2">500,540</td>
<td colspan="2">356,382</td>
<td colspan="2">62,263</td>
<td>57,625</td>
<td colspan="2">89,851</td>
<td colspan="2">92,063</td>
<td colspan="2">2,331</td>
<td colspan="2">1.8190</td>
<td></td>
</tr>
<tr class="even">
<td><blockquote>
<p>Sept</p>
</blockquote></td>
<td>1,203,071</td>
<td colspan="2">1,205,290</td>
<td colspan="2">429,030</td>
<td colspan="2">285,669</td>
<td colspan="2">60,457</td>
<td>56,424</td>
<td colspan="2">77,712</td>
<td colspan="2">84,192</td>
<td colspan="2">653</td>
<td colspan="2">1.7804</td>
<td></td>
</tr>
<tr class="odd">
<td><blockquote>
<p>Oct</p>
</blockquote></td>
<td>1,356,523</td>
<td colspan="2">1,365,196</td>
<td colspan="2">448,584</td>
<td colspan="2">319,184</td>
<td colspan="2">61,870</td>
<td>58,802</td>
<td colspan="2">76,430</td>
<td colspan="2">79,670</td>
<td colspan="2">678</td>
<td colspan="2">1.6165</td>
<td></td>
</tr>
<tr class="even">
<td><blockquote>
<p>Nov</p>
</blockquote></td>
<td>1,206,138</td>
<td colspan="2">1,217,492</td>
<td colspan="2">500,194</td>
<td colspan="2">347,609</td>
<td colspan="2">51,130</td>
<td>51,199</td>
<td colspan="2">64,123</td>
<td colspan="2">63,733</td>
<td colspan="2">850</td>
<td colspan="2">1.5348</td>
<td></td>
</tr>
<tr class="odd">
<td><blockquote>
<p>Dec</p>
</blockquote></td>
<td>975,940</td>
<td colspan="2">995,931</td>
<td colspan="2">495,444</td>
<td colspan="2">342,452</td>
<td colspan="2">44,891</td>
<td>43,251</td>
<td colspan="2">51,977</td>
<td colspan="2">53,230</td>
<td colspan="2">631</td>
<td colspan="2">1.4619</td>
<td></td>
</tr>
<tr class="even">
<td></td>
<td></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td></td>
</tr>
</tbody>
</table>

<table style="width:100%;">
<colgroup>
<col style="width: 14%" />
<col style="width: 8%" />
<col style="width: 0%" />
<col style="width: 7%" />
<col style="width: 1%" />
<col style="width: 6%" />
<col style="width: 0%" />
<col style="width: 7%" />
<col style="width: 1%" />
<col style="width: 7%" />
<col style="width: 1%" />
<col style="width: 6%" />
<col style="width: 0%" />
<col style="width: 7%" />
<col style="width: 1%" />
<col style="width: 6%" />
<col style="width: 0%" />
<col style="width: 7%" />
<col style="width: 1%" />
<col style="width: 8%" />
<col style="width: 2%" />
</colgroup>
<tbody>
<tr class="odd">
<td colspan="21"><h3
id="table-fcp-iv-3.quarterly-report-of-large-market-participants">TABLE
FCP-IV-3.—Quarterly Report of Large Market Participants</h3>
<p>[In millions of pounds sterling. Source: Office of International
Monetary and Financial Policy]</p></td>
</tr>
<tr class="even">
<td rowspan="3">Report date</td>
<td colspan="4" rowspan="2">Spot, forward<br />
and future contracts</td>
<td colspan="4" rowspan="2">Foreign currency denominated</td>
<td colspan="10">Options positions</td>
<td colspan="2" rowspan="3">Exchange rate (U.S. dollars<br />
per pound)<br />
(10)</td>
</tr>
<tr class="odd">
<td colspan="4">Calls</td>
<td colspan="4">Puts</td>
<td colspan="2" rowspan="2">Net delta<br />
equivalent<br />
(9)</td>
</tr>
<tr class="even">
<td colspan="2">Purchased<br />
(1)</td>
<td colspan="2">Sold<br />
(2)</td>
<td colspan="2">Assets<br />
(3)</td>
<td colspan="2">Liabilities<br />
(4)</td>
<td colspan="2">Bought<br />
(5)</td>
<td colspan="2">Written<br />
(6)</td>
<td colspan="2">Bought<br />
(7)</td>
<td colspan="2">Written<br />
(8)</td>
</tr>
<tr class="odd">
<td></td>
<td></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td></td>
</tr>
<tr class="even">
<td>2005 - Dec</td>
<td>23,489</td>
<td colspan="2">37,615</td>
<td colspan="2">50,161</td>
<td colspan="2">23,561</td>
<td colspan="2">408</td>
<td colspan="2">359</td>
<td colspan="2">n.a.</td>
<td colspan="2">n.a.</td>
<td colspan="2">-786</td>
<td colspan="2">1.7188</td>
<td></td>
</tr>
<tr class="odd">
<td>2006 - Mar</td>
<td>19,284</td>
<td colspan="2">50,266</td>
<td colspan="2">56,236</td>
<td colspan="2">25,296</td>
<td colspan="2">409</td>
<td colspan="2">336</td>
<td colspan="2">2,413</td>
<td colspan="2">714</td>
<td colspan="2">146</td>
<td colspan="2">1.7393</td>
<td></td>
</tr>
<tr class="even">
<td>June</td>
<td>26,222</td>
<td colspan="2">46,526</td>
<td colspan="2">60,738</td>
<td colspan="2">26,947</td>
<td colspan="2">394</td>
<td colspan="2">336</td>
<td colspan="2">2,559</td>
<td colspan="2">667</td>
<td colspan="2">182</td>
<td colspan="2">1.8491</td>
<td></td>
</tr>
<tr class="odd">
<td>Sept</td>
<td>23,238</td>
<td colspan="2">32,069</td>
<td colspan="2">52,940</td>
<td colspan="2">20,660</td>
<td colspan="2">n.a.</td>
<td colspan="2">n.a.</td>
<td colspan="2">2,244</td>
<td colspan="2">722</td>
<td colspan="2">176</td>
<td colspan="2">1.8716</td>
<td></td>
</tr>
<tr class="even">
<td>Dec</td>
<td>23,342</td>
<td colspan="2">31,721</td>
<td colspan="2">53,158</td>
<td colspan="2">18,843</td>
<td colspan="2">n.a.</td>
<td colspan="2">n.a.</td>
<td colspan="2">2,034</td>
<td colspan="2">565</td>
<td colspan="2">10</td>
<td colspan="2">1.9586</td>
<td></td>
</tr>
<tr class="odd">
<td>2007 - Mar</td>
<td>12,787</td>
<td colspan="2">20,170</td>
<td colspan="2">60,460</td>
<td colspan="2">22,609</td>
<td colspan="2">267</td>
<td colspan="2">69</td>
<td colspan="2">n.a.</td>
<td colspan="2">n.a.</td>
<td colspan="2">-441</td>
<td colspan="2">1.9685</td>
<td></td>
</tr>
<tr class="even">
<td>June</td>
<td>9,617</td>
<td colspan="2">19,167</td>
<td colspan="2">61,316</td>
<td colspan="2">24,253</td>
<td colspan="2">n.a.</td>
<td colspan="2">60</td>
<td colspan="2">n.a.</td>
<td colspan="2">n.a.</td>
<td colspan="2">n.a.</td>
<td colspan="2">2.0063</td>
<td></td>
</tr>
<tr class="odd">
<td>Sept</td>
<td>10,145</td>
<td colspan="2">20,745</td>
<td colspan="2">75,325</td>
<td colspan="2">30,537</td>
<td colspan="2">154</td>
<td colspan="2">n.a.</td>
<td colspan="2">2,491</td>
<td colspan="2">n.a.</td>
<td colspan="2">n.a.</td>
<td colspan="2">2.0389</td>
<td></td>
</tr>
<tr class="even">
<td>Dec</td>
<td>11,365</td>
<td colspan="2">22,642</td>
<td colspan="2">76,423</td>
<td colspan="2">26,918</td>
<td colspan="2">139</td>
<td colspan="2">159</td>
<td colspan="2">3,733</td>
<td colspan="2">n,a.</td>
<td colspan="2">-1,292</td>
<td colspan="2">1.9843</td>
<td></td>
</tr>
<tr class="odd">
<td>2008 - Mar</td>
<td>18,074</td>
<td colspan="2">30,594</td>
<td colspan="2">80,685</td>
<td colspan="2">28,259</td>
<td colspan="2">n.a.</td>
<td colspan="2">90</td>
<td colspan="2">1,956</td>
<td colspan="2">883</td>
<td colspan="2">-1,168</td>
<td colspan="2">1.9855</td>
<td></td>
</tr>
<tr class="even">
<td>June</td>
<td>17,970</td>
<td colspan="2">31,267</td>
<td colspan="2">94,886</td>
<td colspan="2">26,549</td>
<td colspan="2">n.a.</td>
<td colspan="2">302</td>
<td colspan="2">2,046</td>
<td colspan="2">1,195</td>
<td colspan="2">n.a.</td>
<td colspan="2">1.9906</td>
<td></td>
</tr>
<tr class="odd">
<td>Sept</td>
<td>18,814</td>
<td colspan="2">32,337</td>
<td colspan="2">94,107</td>
<td colspan="2">31,132</td>
<td colspan="2">127</td>
<td colspan="2">184</td>
<td colspan="2">4,010</td>
<td colspan="2">924</td>
<td colspan="2">n.a.</td>
<td colspan="2">1.7804</td>
<td></td>
</tr>
<tr class="even">
<td></td>
<td></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td></td>
</tr>
</tbody>
</table>

+--------------------+---+----------+---+--------+---+--------+---+-----+
| #                  |   |          |   |        |   |        |   |     |
| # SECTION V.---U.S |   |          |   |        |   |        |   |     |
| . Dollar Positions |   |          |   |        |   |        |   |     |
|                    |   |          |   |        |   |        |   |     |
| ### TABLE          |   |          |   |        |   |        |   |     |
|  FCP-V-1.---Weekly |   |          |   |        |   |        |   |     |
|  Report of Major M |   |          |   |        |   |        |   |     |
| arket Participants |   |          |   |        |   |        |   |     |
|                    |   |          |   |        |   |        |   |     |
| \[In millions of   |   |          |   |        |   |        |   |     |
| U.S. dollars.      |   |          |   |        |   |        |   |     |
| Source: Office of  |   |          |   |        |   |        |   |     |
| International      |   |          |   |        |   |        |   |     |
| Monetary and       |   |          |   |        |   |        |   |     |
| Financial Policy\] |   |          |   |        |   |        |   |     |
+--------------------+---+----------+---+--------+---+--------+---+-----+
|                    |   |          |   |        |   |        |   |     |
+--------------------+---+----------+---+--------+---+--------+---+-----+
| Report date        |   | Spot,    |   |        |   | Net    |   | Ex  |
|                    |   | forward  |   |        |   | o      |   | cha |
|                    |   | and      |   |        |   | ptions |   | nge |
|                    |   | future   |   |        |   | posi   |   | ra  |
|                    |   | c        |   |        |   | tions\ |   | te\ |
|                    |   | ontracts |   |        |   | (3)    |   | (4) |
+--------------------+---+----------+---+--------+---+--------+---+-----+
|                    |   | Pu       |   | Sold\  |   |        |   |     |
|                    |   | rchased\ |   | (2)    |   |        |   |     |
|                    |   | (1)      |   |        |   |        |   |     |
+--------------------+---+----------+---+--------+---+--------+---+-----+
|                    |   |          |   |        |   |        |   |     |
+--------------------+---+----------+---+--------+---+--------+---+-----+
| 07/09/08           | 1 |          | 1 |        | - |        | n |     |
|                    | 7 |          | 7 |        | 4 |        | . |     |
|                    | , |          | , |        | 8 |        | a |     |
|                    | 0 |          | 0 |        | 5 |        | . |     |
|                    | 5 |          | 7 |        |   |        |   |     |
|                    | 8 |          | 4 |        |   |        |   |     |
|                    | , |          | , |        |   |        |   |     |
|                    | 3 |          | 8 |        |   |        |   |     |
|                    | 3 |          | 7 |        |   |        |   |     |
|                    | 1 |          | 8 |        |   |        |   |     |
+--------------------+---+----------+---+--------+---+--------+---+-----+
| 07/16/08           | 1 |          | 1 |        | - |        | n |     |
|                    | 7 |          | 7 |        | 4 |        | . |     |
|                    | , |          | , |        | , |        | a |     |
|                    | 4 |          | 4 |        | 0 |        | . |     |
|                    | 5 |          | 6 |        | 4 |        |   |     |
|                    | 0 |          | 9 |        | 5 |        |   |     |
|                    | , |          | , |        |   |        |   |     |
|                    | 7 |          | 3 |        |   |        |   |     |
|                    | 2 |          | 4 |        |   |        |   |     |
|                    | 1 |          | 6 |        |   |        |   |     |
+--------------------+---+----------+---+--------+---+--------+---+-----+
| 07/23/08           | 1 |          | 1 |        | - |        | n |     |
|                    | 7 |          | 7 |        | 3 |        | . |     |
|                    | , |          | , |        | , |        | a |     |
|                    | 4 |          | 4 |        | 6 |        | . |     |
|                    | 0 |          | 1 |        | 5 |        |   |     |
|                    | 2 |          | 1 |        | 9 |        |   |     |
|                    | , |          | , |        |   |        |   |     |
|                    | 8 |          | 8 |        |   |        |   |     |
|                    | 6 |          | 2 |        |   |        |   |     |
|                    | 4 |          | 9 |        |   |        |   |     |
+--------------------+---+----------+---+--------+---+--------+---+-----+
| 07/30/08           | 1 |          | 1 |        | - |        | n |     |
|                    | 8 |          | 8 |        | 7 |        | . |     |
|                    | , |          | , |        | 9 |        | a |     |
|                    | 1 |          | 1 |        | 0 |        | . |     |
|                    | 6 |          | 5 |        |   |        |   |     |
|                    | 4 |          | 7 |        |   |        |   |     |
|                    | , |          | , |        |   |        |   |     |
|                    | 1 |          | 4 |        |   |        |   |     |
|                    | 0 |          | 1 |        |   |        |   |     |
|                    | 2 |          | 9 |        |   |        |   |     |
+--------------------+---+----------+---+--------+---+--------+---+-----+
|                    |   |          |   |        |   |        |   |     |
+--------------------+---+----------+---+--------+---+--------+---+-----+
| 08/06/08           | 1 |          | 1 |        | 1 |        | n |     |
|                    | 8 |          | 8 |        | , |        | . |     |
|                    | , |          | , |        | 9 |        | a |     |
|                    | 0 |          | 0 |        | 6 |        | . |     |
|                    | 1 |          | 2 |        | 6 |        |   |     |
|                    | 3 |          | 8 |        |   |        |   |     |
|                    | , |          | , |        |   |        |   |     |
|                    | 9 |          | 3 |        |   |        |   |     |
|                    | 0 |          | 7 |        |   |        |   |     |
|                    | 2 |          | 5 |        |   |        |   |     |
+--------------------+---+----------+---+--------+---+--------+---+-----+
| 08/13/08           | 1 |          | 1 |        | 1 |        | n |     |
|                    | 8 |          | 8 |        | , |        | . |     |
|                    | , |          | , |        | 8 |        | a |     |
|                    | 3 |          | 3 |        | 7 |        | . |     |
|                    | 8 |          | 8 |        | 6 |        |   |     |
|                    | 6 |          | 8 |        |   |        |   |     |
|                    | , |          | , |        |   |        |   |     |
|                    | 1 |          | 5 |        |   |        |   |     |
|                    | 2 |          | 1 |        |   |        |   |     |
|                    | 6 |          | 6 |        |   |        |   |     |
+--------------------+---+----------+---+--------+---+--------+---+-----+
| 08/20/08           | 1 |          | 1 |        | 4 |        | n |     |
|                    | 8 |          | 8 |        | , |        | . |     |
|                    | , |          | , |        | 0 |        | a |     |
|                    | 1 |          | 1 |        | 8 |        | . |     |
|                    | 4 |          | 4 |        | 6 |        |   |     |
|                    | 7 |          | 5 |        |   |        |   |     |
|                    | , |          | , |        |   |        |   |     |
|                    | 2 |          | 5 |        |   |        |   |     |
|                    | 0 |          | 3 |        |   |        |   |     |
|                    | 7 |          | 7 |        |   |        |   |     |
+--------------------+---+----------+---+--------+---+--------+---+-----+
| 08/27/08           | 1 |          | 1 |        | 1 |        | n |     |
|                    | 8 |          | 8 |        | , |        | . |     |
|                    | , |          | , |        | 6 |        | a |     |
|                    | 7 |          | 7 |        | 6 |        | . |     |
|                    | 5 |          | 5 |        | 6 |        |   |     |
|                    | 2 |          | 6 |        |   |        |   |     |
|                    | , |          | , |        |   |        |   |     |
|                    | 2 |          | 3 |        |   |        |   |     |
|                    | 9 |          | 4 |        |   |        |   |     |
|                    | 2 |          | 8 |        |   |        |   |     |
+--------------------+---+----------+---+--------+---+--------+---+-----+
|                    |   |          |   |        |   |        |   |     |
+--------------------+---+----------+---+--------+---+--------+---+-----+
| 09/03/08           | 1 |          | 1 |        | 3 |        | n |     |
|                    | 8 |          | 8 |        | , |        | . |     |
|                    | , |          | , |        | 1 |        | a |     |
|                    | 5 |          | 5 |        | 7 |        | . |     |
|                    | 6 |          | 9 |        | 5 |        |   |     |
|                    | 8 |          | 5 |        |   |        |   |     |
|                    | , |          | , |        |   |        |   |     |
|                    | 9 |          | 3 |        |   |        |   |     |
|                    | 1 |          | 9 |        |   |        |   |     |
|                    | 1 |          | 0 |        |   |        |   |     |
+--------------------+---+----------+---+--------+---+--------+---+-----+
| 09/10/08           | 1 |          | 1 |        | 8 |        | n |     |
|                    | 9 |          | 9 |        | , |        | . |     |
|                    | , |          | , |        | 8 |        | a |     |
|                    | 2 |          | 3 |        | 2 |        | . |     |
|                    | 6 |          | 2 |        | 0 |        |   |     |
|                    | 4 |          | 8 |        |   |        |   |     |
|                    | , |          | , |        |   |        |   |     |
|                    | 0 |          | 2 |        |   |        |   |     |
|                    | 3 |          | 6 |        |   |        |   |     |
|                    | 4 |          | 7 |        |   |        |   |     |
+--------------------+---+----------+---+--------+---+--------+---+-----+
| 09/17/08           | 1 |          | 1 |        | 1 |        | n |     |
|                    | 6 |          | 6 |        | , |        | . |     |
|                    | , |          | , |        | 7 |        | a |     |
|                    | 7 |          | 7 |        | 6 |        | . |     |
|                    | 4 |          | 6 |        | 5 |        |   |     |
|                    | 7 |          | 7 |        |   |        |   |     |
|                    | , |          | , |        |   |        |   |     |
|                    | 6 |          | 1 |        |   |        |   |     |
|                    | 7 |          | 5 |        |   |        |   |     |
|                    | 3 |          | 2 |        |   |        |   |     |
+--------------------+---+----------+---+--------+---+--------+---+-----+
| 09/24/08           | 1 |          | 1 |        | - |        | n |     |
|                    | 6 |          | 6 |        | 1 |        | . |     |
|                    | , |          | , |        | , |        | a |     |
|                    | 9 |          | 9 |        | 3 |        | . |     |
|                    | 2 |          | 6 |        | 6 |        |   |     |
|                    | 6 |          | 0 |        | 7 |        |   |     |
|                    | , |          | , |        |   |        |   |     |
|                    | 1 |          | 1 |        |   |        |   |     |
|                    | 9 |          | 3 |        |   |        |   |     |
|                    | 5 |          | 8 |        |   |        |   |     |
+--------------------+---+----------+---+--------+---+--------+---+-----+
|                    |   |          |   |        |   |        |   |     |
+--------------------+---+----------+---+--------+---+--------+---+-----+
| 10/01/08           | 1 |          | 1 |        | 9 |        | n |     |
|                    | 6 |          | 6 |        | 2 |        | . |     |
|                    | , |          | , |        | 7 |        | a |     |
|                    | 9 |          | 9 |        |   |        | . |     |
|                    | 1 |          | 4 |        |   |        |   |     |
|                    | 8 |          | 1 |        |   |        |   |     |
|                    | , |          | , |        |   |        |   |     |
|                    | 2 |          | 6 |        |   |        |   |     |
|                    | 4 |          | 9 |        |   |        |   |     |
|                    | 0 |          | 4 |        |   |        |   |     |
+--------------------+---+----------+---+--------+---+--------+---+-----+
| 10/08/08           | 1 |          | 1 |        | - |        | n |     |
|                    | 6 |          | 6 |        | 4 |        | . |     |
|                    | , |          | , |        | , |        | a |     |
|                    | 8 |          | 8 |        | 5 |        | . |     |
|                    | 5 |          | 4 |        | 4 |        |   |     |
|                    | 4 |          | 6 |        | 3 |        |   |     |
|                    | , |          | , |        |   |        |   |     |
|                    | 2 |          | 6 |        |   |        |   |     |
|                    | 5 |          | 0 |        |   |        |   |     |
|                    | 6 |          | 8 |        |   |        |   |     |
+--------------------+---+----------+---+--------+---+--------+---+-----+
| 10/15/08           | 1 |          | 1 |        | - |        | n |     |
|                    | 7 |          | 7 |        | 1 |        | . |     |
|                    | , |          | , |        | , |        | a |     |
|                    | 1 |          | 0 |        | 4 |        | . |     |
|                    | 0 |          | 3 |        | 1 |        |   |     |
|                    | 4 |          | 6 |        | 5 |        |   |     |
|                    | , |          | , |        |   |        |   |     |
|                    | 1 |          | 1 |        |   |        |   |     |
|                    | 7 |          | 4 |        |   |        |   |     |
|                    | 5 |          | 8 |        |   |        |   |     |
+--------------------+---+----------+---+--------+---+--------+---+-----+
| 10/22/08           | 1 |          | 1 |        | - |        | n |     |
|                    | 7 |          | 7 |        | 5 |        | . |     |
|                    | , |          | , |        | 7 |        | a |     |
|                    | 0 |          | 0 |        | 4 |        | . |     |
|                    | 6 |          | 0 |        |   |        |   |     |
|                    | 0 |          | 2 |        |   |        |   |     |
|                    | , |          | , |        |   |        |   |     |
|                    | 7 |          | 0 |        |   |        |   |     |
|                    | 4 |          | 0 |        |   |        |   |     |
|                    | 2 |          | 1 |        |   |        |   |     |
+--------------------+---+----------+---+--------+---+--------+---+-----+
| 10/29/08           | 1 |          | 1 |        | - |        | n |     |
|                    | 7 |          | 7 |        | 3 |        | . |     |
|                    | , |          | , |        | , |        | a |     |
|                    | 1 |          | 2 |        | 1 |        | . |     |
|                    | 9 |          | 0 |        | 9 |        |   |     |
|                    | 8 |          | 2 |        | 6 |        |   |     |
|                    | , |          | , |        |   |        |   |     |
|                    | 7 |          | 4 |        |   |        |   |     |
|                    | 4 |          | 8 |        |   |        |   |     |
|                    | 6 |          | 9 |        |   |        |   |     |
+--------------------+---+----------+---+--------+---+--------+---+-----+
|                    |   |          |   |        |   |        |   |     |
+--------------------+---+----------+---+--------+---+--------+---+-----+
| 11/05/08           | 1 |          | 1 |        | - |        | n |     |
|                    | 6 |          | 6 |        | 1 |        | . |     |
|                    | , |          | , |        | 8 |        | a |     |
|                    | 8 |          | 8 |        | 5 |        | . |     |
|                    | 0 |          | 2 |        |   |        |   |     |
|                    | 0 |          | 1 |        |   |        |   |     |
|                    | , |          | , |        |   |        |   |     |
|                    | 1 |          | 3 |        |   |        |   |     |
|                    | 4 |          | 8 |        |   |        |   |     |
|                    | 2 |          | 9 |        |   |        |   |     |
+--------------------+---+----------+---+--------+---+--------+---+-----+
| 11/12/08           | 1 |          | 1 |        | - |        | n |     |
|                    | 6 |          | 6 |        | 8 |        | . |     |
|                    | , |          | , |        | , |        | a |     |
|                    | 2 |          | 3 |        | 5 |        | . |     |
|                    | 9 |          | 0 |        | 1 |        |   |     |
|                    | 7 |          | 5 |        | 0 |        |   |     |
|                    | , |          | , |        |   |        |   |     |
|                    | 5 |          | 8 |        |   |        |   |     |
|                    | 8 |          | 6 |        |   |        |   |     |
|                    | 7 |          | 1 |        |   |        |   |     |
+--------------------+---+----------+---+--------+---+--------+---+-----+
| 11/19/08           | 1 |          | 1 |        | - |        | n |     |
|                    | 6 |          | 6 |        | 1 |        | . |     |
|                    | , |          | , |        | 0 |        | a |     |
|                    | 2 |          | 2 |        | , |        | . |     |
|                    | 2 |          | 3 |        | 2 |        |   |     |
|                    | 1 |          | 3 |        | 1 |        |   |     |
|                    | , |          | , |        | 4 |        |   |     |
|                    | 3 |          | 7 |        |   |        |   |     |
|                    | 7 |          | 5 |        |   |        |   |     |
|                    | 2 |          | 4 |        |   |        |   |     |
+--------------------+---+----------+---+--------+---+--------+---+-----+
| 11/26/08           | 1 |          | 1 |        | - |        | n |     |
|                    | 4 |          | 4 |        | 6 |        | . |     |
|                    | , |          | , |        | , |        | a |     |
|                    | 9 |          | 9 |        | 7 |        | . |     |
|                    | 8 |          | 7 |        | 4 |        |   |     |
|                    | 4 |          | 8 |        | 9 |        |   |     |
|                    | , |          | , |        |   |        |   |     |
|                    | 7 |          | 5 |        |   |        |   |     |
|                    | 1 |          | 0 |        |   |        |   |     |
|                    | 5 |          | 6 |        |   |        |   |     |
+--------------------+---+----------+---+--------+---+--------+---+-----+
|                    |   |          |   |        |   |        |   |     |
+--------------------+---+----------+---+--------+---+--------+---+-----+
| 12/03/08           | 1 |          | 1 |        | - |        | n |     |
|                    | 6 |          | 6 |        | 8 |        | . |     |
|                    | , |          | , |        | 4 |        | a |     |
|                    | 1 |          | 1 |        | 9 |        | . |     |
|                    | 0 |          | 0 |        |   |        |   |     |
|                    | 0 |          | 8 |        |   |        |   |     |
|                    | , |          | , |        |   |        |   |     |
|                    | 4 |          | 6 |        |   |        |   |     |
|                    | 6 |          | 6 |        |   |        |   |     |
|                    | 0 |          | 5 |        |   |        |   |     |
+--------------------+---+----------+---+--------+---+--------+---+-----+
| 12/10/08           | 1 |          | 1 |        | - |        | n |     |
|                    | 4 |          | 4 |        | 1 |        | . |     |
|                    | , |          | , |        | 3 |        | a |     |
|                    | 6 |          | 6 |        | , |        | . |     |
|                    | 1 |          | 6 |        | 7 |        |   |     |
|                    | 2 |          | 0 |        | 7 |        |   |     |
|                    | , |          | , |        | 5 |        |   |     |
|                    | 8 |          | 5 |        |   |        |   |     |
|                    | 1 |          | 7 |        |   |        |   |     |
|                    | 7 |          | 1 |        |   |        |   |     |
+--------------------+---+----------+---+--------+---+--------+---+-----+
| 12/17/08           | 1 |          | 1 |        | - |        | n |     |
|                    | 4 |          | 4 |        | 1 |        | . |     |
|                    | , |          | , |        | , |        | a |     |
|                    | 7 |          | 9 |        | 8 |        | . |     |
|                    | 9 |          | 4 |        | 9 |        |   |     |
|                    | 6 |          | 9 |        | 2 |        |   |     |
|                    | , |          | , |        |   |        |   |     |
|                    | 4 |          | 8 |        |   |        |   |     |
|                    | 3 |          | 7 |        |   |        |   |     |
|                    | 3 |          | 9 |        |   |        |   |     |
+--------------------+---+----------+---+--------+---+--------+---+-----+
| 12/24/08           | 1 |          | 1 |        | - |        | n |     |
|                    | 3 |          | 3 |        | 3 |        | . |     |
|                    | , |          | , |        | , |        | a |     |
|                    | 4 |          | 5 |        | 9 |        | . |     |
|                    | 4 |          | 7 |        | 6 |        |   |     |
|                    | 7 |          | 2 |        | 1 |        |   |     |
|                    | , |          | , |        |   |        |   |     |
|                    | 5 |          | 7 |        |   |        |   |     |
|                    | 8 |          | 3 |        |   |        |   |     |
|                    | 2 |          | 1 |        |   |        |   |     |
+--------------------+---+----------+---+--------+---+--------+---+-----+
| 12/31/08           | 1 |          | 1 |        | - |        | n |     |
|                    | 3 |          | 3 |        | 5 |        | . |     |
|                    | , |          | , |        | , |        | a |     |
|                    | 5 |          | 6 |        | 6 |        | . |     |
|                    | 2 |          | 7 |        | 9 |        |   |     |
|                    | 6 |          | 5 |        | 7 |        |   |     |
|                    | , |          | , |        |   |        |   |     |
|                    | 1 |          | 4 |        |   |        |   |     |
|                    | 8 |          | 1 |        |   |        |   |     |
|                    | 3 |          | 1 |        |   |        |   |     |
+--------------------+---+----------+---+--------+---+--------+---+-----+
|                    |   |          |   |        |   |        |   |     |
+--------------------+---+----------+---+--------+---+--------+---+-----+

<table style="width:100%;">
<colgroup>
<col style="width: 12%" />
<col style="width: 1%" />
<col style="width: 7%" />
<col style="width: 1%" />
<col style="width: 0%" />
<col style="width: 9%" />
<col style="width: 0%" />
<col style="width: 0%" />
<col style="width: 5%" />
<col style="width: 0%" />
<col style="width: 1%" />
<col style="width: 7%" />
<col style="width: 0%" />
<col style="width: 1%" />
<col style="width: 8%" />
<col style="width: 8%" />
<col style="width: 8%" />
<col style="width: 8%" />
<col style="width: 7%" />
<col style="width: 1%" />
<col style="width: 0%" />
<col style="width: 5%" />
<col style="width: 0%" />
<col style="width: 2%" />
<col style="width: 0%" />
</colgroup>
<tbody>
<tr class="odd">
<td colspan="25"><h2 id="section-v.u.s.-dollar-positions-con.">SECTION
V.—U.S. Dollar Positions, con.</h2>
<h3 id="table-fcp-v-2.monthly-report-of-major-market-participants">TABLE
FCP-V-2.—Monthly Report of Major Market Participants</h3>
<p>[In millions of U.S. dollars. Source: Office of International
Monetary and Financial Policy]</p></td>
</tr>
<tr class="even">
<td rowspan="3">Report date</td>
<td colspan="5" rowspan="2">Spot, forward<br />
and future contracts</td>
<td colspan="8" rowspan="2">Foreign currency denominated</td>
<td colspan="7">Options positions</td>
<td colspan="4"></td>
</tr>
<tr class="odd">
<td colspan="2">Calls</td>
<td colspan="2">Puts</td>
<td colspan="2" rowspan="2">Net delta<br />
equivalent<br />
(9)</td>
<td colspan="5" rowspan="2"><p>Exchange</p>
<p>rate<br />
(10)</p></td>
</tr>
<tr class="even">
<td colspan="3">Purchased<br />
(1)</td>
<td colspan="2">Sold<br />
(2)</td>
<td colspan="5">Assets<br />
(3)</td>
<td colspan="3">Liabilities<br />
(4)</td>
<td>Bought<br />
(5)</td>
<td>Written<br />
(6)</td>
<td>Bought<br />
(7)</td>
<td>Written<br />
(8)</td>
</tr>
<tr class="odd">
<td></td>
<td colspan="4"></td>
<td></td>
<td colspan="5"></td>
<td colspan="3"></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td colspan="2"></td>
<td colspan="3"></td>
<td colspan="2"></td>
</tr>
<tr class="even">
<td>2006 - Dec</td>
<td colspan="2">10,523,993</td>
<td colspan="5">10,613,502</td>
<td colspan="2">-</td>
<td colspan="3">-</td>
<td colspan="2">1,877,190</td>
<td>1,921,370</td>
<td>2,004,037</td>
<td>2,251,079</td>
<td>-8,890</td>
<td colspan="4">n.a.</td>
<td colspan="2"></td>
</tr>
<tr class="odd">
<td>2007 - Dec</td>
<td colspan="2">16,604,296</td>
<td colspan="5">16,621,391</td>
<td colspan="2">-</td>
<td colspan="3">-</td>
<td colspan="2">2,665,228</td>
<td>2,579,678</td>
<td>2,534,065</td>
<td>n.a.</td>
<td>794</td>
<td colspan="4">n.a.</td>
<td colspan="2"></td>
</tr>
<tr class="even">
<td>2008 - Jan</td>
<td colspan="2">18,485,177</td>
<td colspan="5">18,506,856</td>
<td colspan="2">-</td>
<td colspan="3">-</td>
<td colspan="2">2,713,748</td>
<td>2,515,460</td>
<td>2,553,416</td>
<td>n.a.</td>
<td>-3,773</td>
<td colspan="4">n.a.</td>
<td colspan="2"></td>
</tr>
<tr class="odd">
<td><blockquote>
<p>Feb</p>
</blockquote></td>
<td colspan="2">19,347,277</td>
<td colspan="5">19,391,890</td>
<td colspan="2">-</td>
<td colspan="3">-</td>
<td colspan="2">3,566,916</td>
<td>2,868,568</td>
<td>2,622,890</td>
<td>n.a.</td>
<td>11,550</td>
<td colspan="4">n.a.</td>
<td colspan="2"></td>
</tr>
<tr class="even">
<td><blockquote>
<p>Mar</p>
</blockquote></td>
<td colspan="2">18,225,601</td>
<td colspan="5">18,226,937</td>
<td colspan="2">-</td>
<td colspan="3">-</td>
<td colspan="2">2,797,478</td>
<td>2,527,739</td>
<td>2,632,024</td>
<td>n.a.</td>
<td>5,332</td>
<td colspan="4">n.a.</td>
<td colspan="2"></td>
</tr>
<tr class="odd">
<td><blockquote>
<p>Apr</p>
</blockquote></td>
<td colspan="2">18,600,434</td>
<td colspan="5">18,653,717</td>
<td colspan="2">-</td>
<td colspan="3">-</td>
<td colspan="2">2,736,978</td>
<td>2,700,906</td>
<td>2,651,712</td>
<td>n.a.</td>
<td>n.a.</td>
<td colspan="4">n.a.</td>
<td colspan="2"></td>
</tr>
<tr class="even">
<td><blockquote>
<p>May</p>
</blockquote></td>
<td colspan="2">18,987,815</td>
<td colspan="5">19,043,557</td>
<td colspan="2">-</td>
<td colspan="3">-</td>
<td colspan="2">3,287,386</td>
<td>3,803,175</td>
<td>3,285,883</td>
<td>6,608,679</td>
<td>12,071</td>
<td colspan="4">n.a.</td>
<td colspan="2"></td>
</tr>
<tr class="odd">
<td><blockquote>
<p>June</p>
</blockquote></td>
<td colspan="2">18,131,933</td>
<td colspan="5">18,165,420</td>
<td colspan="2">-</td>
<td colspan="3">-</td>
<td colspan="2">3,200,841</td>
<td>3,290,251</td>
<td>3,322,983</td>
<td>6,668,912</td>
<td>8,027</td>
<td colspan="4">n.a.</td>
<td colspan="2"></td>
</tr>
<tr class="even">
<td><blockquote>
<p>July</p>
</blockquote></td>
<td colspan="2">18,974,207</td>
<td colspan="5">18,984,029</td>
<td colspan="2">-</td>
<td colspan="3">-</td>
<td colspan="2">3,860,825</td>
<td>3,934,239</td>
<td>4,282,276</td>
<td>7,568,455</td>
<td>-3,425</td>
<td colspan="4">n.a.</td>
<td colspan="2"></td>
</tr>
<tr class="odd">
<td><blockquote>
<p>Aug</p>
</blockquote></td>
<td colspan="2">16,998,976</td>
<td colspan="5">17,015,504</td>
<td colspan="2">-</td>
<td colspan="3">-</td>
<td colspan="2">3,954,792</td>
<td>6,134,109</td>
<td>6,286,505</td>
<td>7,529,433</td>
<td>5,708</td>
<td colspan="4">n.a.</td>
<td colspan="2"></td>
</tr>
<tr class="even">
<td><blockquote>
<p>Sept</p>
</blockquote></td>
<td colspan="2">17,880,214</td>
<td colspan="5">17,888,232</td>
<td colspan="2">-</td>
<td colspan="3">-</td>
<td colspan="2">3,901,764</td>
<td>6,099,109</td>
<td>6,360,121</td>
<td>7,365,021</td>
<td>5,066</td>
<td colspan="4">n.a.</td>
<td colspan="2"></td>
</tr>
<tr class="odd">
<td><blockquote>
<p>Oct</p>
</blockquote></td>
<td colspan="2">18,023,570</td>
<td colspan="5">18,010,589</td>
<td colspan="2">-</td>
<td colspan="3">-</td>
<td colspan="2">3,639,554</td>
<td>3,715,441</td>
<td>4,001,058</td>
<td>3,962,748</td>
<td>996</td>
<td colspan="4">n.a.</td>
<td colspan="2"></td>
</tr>
<tr class="even">
<td><blockquote>
<p>Nov</p>
</blockquote></td>
<td colspan="2">16,897,006</td>
<td colspan="5">16,899,403</td>
<td colspan="2">-</td>
<td colspan="3">-</td>
<td colspan="2">3,309,641</td>
<td>3,404,580</td>
<td>3,790,897</td>
<td>3,753,138</td>
<td>4,806</td>
<td colspan="4">n.a.</td>
<td colspan="2"></td>
</tr>
<tr class="odd">
<td><blockquote>
<p>Dec</p>
</blockquote></td>
<td colspan="2">14,157,193</td>
<td colspan="5">14,295,305</td>
<td colspan="2">-</td>
<td colspan="3">-</td>
<td colspan="2">3,216,341</td>
<td>3,311,971</td>
<td>3,750,439</td>
<td>3,700,270</td>
<td>-4,233</td>
<td colspan="4">n.a.</td>
<td colspan="2"></td>
</tr>
<tr class="even">
<td colspan="2"></td>
<td colspan="3"></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td colspan="3"></td>
<td colspan="3"></td>
<td></td>
<td></td>
<td></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td></td>
</tr>
</tbody>
</table>

<table style="width:100%;">
<colgroup>
<col style="width: 13%" />
<col style="width: 8%" />
<col style="width: 0%" />
<col style="width: 7%" />
<col style="width: 1%" />
<col style="width: 7%" />
<col style="width: 1%" />
<col style="width: 7%" />
<col style="width: 1%" />
<col style="width: 7%" />
<col style="width: 6%" />
<col style="width: 0%" />
<col style="width: 8%" />
<col style="width: 0%" />
<col style="width: 7%" />
<col style="width: 1%" />
<col style="width: 7%" />
<col style="width: 1%" />
<col style="width: 8%" />
<col style="width: 2%" />
</colgroup>
<tbody>
<tr class="odd">
<td colspan="20"><h3
id="table-fcp-v-3.quarterly-report-of-large-market-participants">TABLE
FCP-V-3.—Quarterly Report of Large Market Participants</h3>
<p>[In millions of U.S. dollars. Source: Office of International
Monetary and Financial Policy]</p></td>
</tr>
<tr class="even">
<td rowspan="3">Report date</td>
<td colspan="4" rowspan="2">Spot, forward<br />
and future contracts</td>
<td colspan="4" rowspan="2">Foreign currency denominated</td>
<td colspan="9">Options positions</td>
<td colspan="2" rowspan="3">Exchange<br />
rate<br />
(10)</td>
</tr>
<tr class="odd">
<td colspan="2">Calls</td>
<td colspan="5">Puts</td>
<td colspan="2" rowspan="2">Net delta<br />
equivalent<br />
(9)</td>
</tr>
<tr class="even">
<td colspan="2">Purchased<br />
(1)</td>
<td colspan="2">Sold<br />
(2)</td>
<td colspan="2">Assets<br />
(3)</td>
<td colspan="2">Liabilities<br />
(4)</td>
<td>Bought<br />
(5)</td>
<td colspan="2">Written<br />
(6)</td>
<td colspan="2">Bought<br />
(7)</td>
<td colspan="2">Written<br />
(8)</td>
</tr>
<tr class="odd">
<td></td>
<td></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td></td>
</tr>
<tr class="even">
<td>2005 - Dec</td>
<td>419,932</td>
<td colspan="2">398,823</td>
<td colspan="2">-</td>
<td colspan="2">-</td>
<td colspan="2">22,061</td>
<td>14,840</td>
<td colspan="2">12,765</td>
<td colspan="2">12,692</td>
<td colspan="2">3,155</td>
<td colspan="2">n.a.</td>
<td></td>
</tr>
<tr class="odd">
<td>2006 - Mar</td>
<td>444,770</td>
<td colspan="2">436,861</td>
<td colspan="2">-</td>
<td colspan="2">-</td>
<td colspan="2">21,312</td>
<td>18,906</td>
<td colspan="2">18,612</td>
<td colspan="2">20,083</td>
<td colspan="2">2,115</td>
<td colspan="2">n.a.</td>
<td></td>
</tr>
<tr class="even">
<td>June</td>
<td>441,758</td>
<td colspan="2">453,766</td>
<td colspan="2">-</td>
<td colspan="2">-</td>
<td colspan="2">16,802</td>
<td>19,028</td>
<td colspan="2">16,754</td>
<td colspan="2">17,785</td>
<td colspan="2">954</td>
<td colspan="2">n.a.</td>
<td></td>
</tr>
<tr class="odd">
<td>Sept</td>
<td>466,483</td>
<td colspan="2">478,373</td>
<td colspan="2">-</td>
<td colspan="2">-</td>
<td colspan="2">25,157</td>
<td>32,393</td>
<td colspan="2">20,992</td>
<td colspan="2">26,372</td>
<td colspan="2">4,174</td>
<td colspan="2">n.a.</td>
<td></td>
</tr>
<tr class="even">
<td>Dec</td>
<td>445,675</td>
<td colspan="2">450,809</td>
<td colspan="2">-</td>
<td colspan="2">-</td>
<td colspan="2">25,301</td>
<td>38,520</td>
<td colspan="2">17,570</td>
<td colspan="2">23,098</td>
<td colspan="2">-278</td>
<td colspan="2">n.a.</td>
<td></td>
</tr>
<tr class="odd">
<td>2007 - Mar</td>
<td>257,985</td>
<td colspan="2">245,890</td>
<td colspan="2">-</td>
<td colspan="2">-</td>
<td colspan="2">33,632</td>
<td>23,046</td>
<td colspan="2">17,873</td>
<td colspan="2">20,639</td>
<td colspan="2">122</td>
<td colspan="2">n.a.</td>
<td></td>
</tr>
<tr class="even">
<td>June</td>
<td>271,790</td>
<td colspan="2">230,303</td>
<td colspan="2">-</td>
<td colspan="2">-</td>
<td colspan="2">36,519</td>
<td>32,361</td>
<td colspan="2">21,051</td>
<td colspan="2">n.a.</td>
<td colspan="2">2,341</td>
<td colspan="2">n.a.</td>
<td></td>
</tr>
<tr class="odd">
<td>Sept</td>
<td>283,902</td>
<td colspan="2">268,604</td>
<td colspan="2">-</td>
<td colspan="2">-</td>
<td colspan="2">33,028</td>
<td>21,170</td>
<td colspan="2">19,119</td>
<td colspan="2">10,739</td>
<td colspan="2">-1,325</td>
<td colspan="2">n.a.</td>
<td></td>
</tr>
<tr class="even">
<td>Dec</td>
<td>297,212</td>
<td colspan="2">291,395</td>
<td colspan="2">-</td>
<td colspan="2">-</td>
<td colspan="2">29,007</td>
<td>22,828</td>
<td colspan="2">13,464</td>
<td colspan="2">10,454</td>
<td colspan="2">2,111</td>
<td colspan="2">n.a.</td>
<td></td>
</tr>
<tr class="odd">
<td>2008 - Mar</td>
<td>384,255</td>
<td colspan="2">382,695</td>
<td colspan="2">-</td>
<td colspan="2">-</td>
<td colspan="2">29,794</td>
<td>27,278</td>
<td colspan="2">15,610</td>
<td colspan="2">15,318</td>
<td colspan="2">3,114</td>
<td colspan="2">n.a.</td>
<td></td>
</tr>
<tr class="even">
<td>June</td>
<td>340,324</td>
<td colspan="2">342,590</td>
<td colspan="2">-</td>
<td colspan="2">-</td>
<td colspan="2">30,279</td>
<td>25,934</td>
<td colspan="2">15,361</td>
<td colspan="2">11,644</td>
<td colspan="2">2,745</td>
<td colspan="2">n.a.</td>
<td></td>
</tr>
<tr class="odd">
<td>Sept</td>
<td>347,122</td>
<td colspan="2">328,592</td>
<td colspan="2">-</td>
<td colspan="2">-</td>
<td colspan="2">27,044</td>
<td>23,503</td>
<td colspan="2">19,379</td>
<td colspan="2">13,640</td>
<td colspan="2">-108</td>
<td colspan="2">n.a.</td>
<td></td>
</tr>
<tr class="even">
<td></td>
<td></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td></td>
</tr>
</tbody>
</table>

<table>
<colgroup>
<col style="width: 35%" />
<col style="width: 5%" />
<col style="width: 13%" />
<col style="width: 3%" />
<col style="width: 11%" />
<col style="width: 1%" />
<col style="width: 2%" />
<col style="width: 12%" />
<col style="width: 7%" />
<col style="width: 8%" />
</colgroup>
<tbody>
<tr class="odd">
<td colspan="10"><h2 id="section-vi.euro-positions">SECTION VI.—Euro
Positions</h2>
<h3 id="table-fcp-vi-1.weekly-report-of-major-market-participants">TABLE
FCP-VI-1.—Weekly Report of Major Market Participants</h3>
<p>[In millions of euros. Source: Office of International Monetary and
Financial Policy]</p></td>
</tr>
<tr class="even">
<td colspan="2"></td>
<td colspan="5"></td>
<td colspan="2"></td>
<td rowspan="3">Exchange rate<br />
(Euros per U.S. dollar)<br />
(4)</td>
</tr>
<tr class="odd">
<td colspan="2" rowspan="2">Report date</td>
<td colspan="5">Spot, forward and future contracts</td>
<td colspan="2" rowspan="2">Net options positions<br />
(3)</td>
</tr>
<tr class="even">
<td colspan="2">Purchased<br />
(1)</td>
<td colspan="3">Sold<br />
(2)</td>
</tr>
<tr class="odd">
<td></td>
<td colspan="2"></td>
<td colspan="3"></td>
<td colspan="3"></td>
<td></td>
</tr>
<tr class="even">
<td>07/09/08</td>
<td colspan="2">4,214,517</td>
<td colspan="2">4,110,285</td>
<td colspan="3">7,214</td>
<td colspan="2">0.6352</td>
</tr>
<tr class="odd">
<td>07/16/08</td>
<td colspan="2">4,305,963</td>
<td colspan="2">4,206,081</td>
<td colspan="3">6,543</td>
<td colspan="2">0.6310</td>
</tr>
<tr class="even">
<td>07/23/08</td>
<td colspan="2">4,276,810</td>
<td colspan="2">4,177,857</td>
<td colspan="3">5,464</td>
<td colspan="2">0.6366</td>
</tr>
<tr class="odd">
<td>07/30/08</td>
<td colspan="2">4,457,183</td>
<td colspan="2">4,368,957</td>
<td colspan="3">3,999</td>
<td colspan="2">0.6427</td>
</tr>
<tr class="even">
<td></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td colspan="3"></td>
<td colspan="2"></td>
</tr>
<tr class="odd">
<td>08/06/08</td>
<td colspan="2">4,396,092</td>
<td colspan="2">4,307,828</td>
<td colspan="3">6,931</td>
<td colspan="2">0.6490</td>
</tr>
<tr class="even">
<td>08/13/08</td>
<td colspan="2">4,528,388</td>
<td colspan="2">4,444,347</td>
<td colspan="3">6,902</td>
<td colspan="2">0.6714</td>
</tr>
<tr class="odd">
<td>08/20/08</td>
<td colspan="2">4,556,240</td>
<td colspan="2">4,469,099</td>
<td colspan="3">8,350</td>
<td colspan="2">0.6802</td>
</tr>
<tr class="even">
<td>08/27/08</td>
<td colspan="2">4,770,207</td>
<td colspan="2">4,692,264</td>
<td colspan="3">8,433</td>
<td colspan="2">0.6810</td>
</tr>
<tr class="odd">
<td></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td colspan="3"></td>
<td colspan="2"></td>
</tr>
<tr class="even">
<td>09/03/08</td>
<td colspan="2">4,710,165</td>
<td colspan="2">4,634,602</td>
<td colspan="3">7,462</td>
<td colspan="2">0.6902</td>
</tr>
<tr class="odd">
<td>09/10/08</td>
<td colspan="2">4,893,921</td>
<td colspan="2">4,813,895</td>
<td colspan="3">5,870</td>
<td colspan="2">0.7133</td>
</tr>
<tr class="even">
<td>09/17/08</td>
<td colspan="2">4,267,569</td>
<td colspan="2">4,195,538</td>
<td colspan="3">4,756</td>
<td colspan="2">0.7035</td>
</tr>
<tr class="odd">
<td>09/24/08</td>
<td colspan="2">4,316,597</td>
<td colspan="2">4,226,857</td>
<td colspan="3">2,583</td>
<td colspan="2">0.6824</td>
</tr>
<tr class="even">
<td></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td colspan="3"></td>
<td colspan="2"></td>
</tr>
<tr class="odd">
<td>10/01/08</td>
<td colspan="2">4,363,095</td>
<td colspan="2">4,293,458</td>
<td colspan="3">3,832</td>
<td colspan="2">0.7113</td>
</tr>
<tr class="even">
<td>10/08/08</td>
<td colspan="2">4,410,407</td>
<td colspan="2">4,341,551</td>
<td colspan="3">-24</td>
<td colspan="2">0.7310</td>
</tr>
<tr class="odd">
<td>10/15/08</td>
<td colspan="2">4,523,256</td>
<td colspan="2">4,486,679</td>
<td colspan="3">2,539</td>
<td colspan="2">0.7371</td>
</tr>
<tr class="even">
<td>10/22/08</td>
<td colspan="2">4,569,210</td>
<td colspan="2">4,518,769</td>
<td colspan="3">2,873</td>
<td colspan="2">0.7791</td>
</tr>
<tr class="odd">
<td>10/29/08</td>
<td colspan="2">4,761,306</td>
<td colspan="2">4,673,602</td>
<td colspan="3">2,186</td>
<td colspan="2">0.7782</td>
</tr>
<tr class="even">
<td></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td colspan="3"></td>
<td colspan="2"></td>
</tr>
<tr class="odd">
<td>11/05/08</td>
<td colspan="2">4,606,624</td>
<td colspan="2">4,504,677</td>
<td colspan="3">1,999</td>
<td colspan="2">0.7669</td>
</tr>
<tr class="even">
<td>11/12/08</td>
<td colspan="2">4,527,102</td>
<td colspan="2">4,418,670</td>
<td colspan="3">2,794</td>
<td colspan="2">0.7963</td>
</tr>
<tr class="odd">
<td>11/19/08</td>
<td colspan="2">4,521,837</td>
<td colspan="2">4,416,581</td>
<td colspan="3">5,450</td>
<td colspan="2">0.7940</td>
</tr>
<tr class="even">
<td>11/26/08</td>
<td colspan="2">4,168,705</td>
<td colspan="2">4,079,303</td>
<td colspan="3">1,501</td>
<td colspan="2">0.7795</td>
</tr>
<tr class="odd">
<td></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td colspan="3"></td>
<td colspan="2"></td>
</tr>
<tr class="even">
<td>12/03/08</td>
<td colspan="2">4,652,370</td>
<td colspan="2">4,559,484</td>
<td colspan="3">2,531</td>
<td colspan="2">0.7893</td>
</tr>
<tr class="odd">
<td>12/10/08</td>
<td colspan="2">4,339,684</td>
<td colspan="2">4,224,443</td>
<td colspan="3">n.a.</td>
<td colspan="2">0.7678</td>
</tr>
<tr class="even">
<td>12/17/08</td>
<td colspan="2">4,299,787</td>
<td colspan="2">4,201,991</td>
<td colspan="3">3,186</td>
<td colspan="2">0.6965</td>
</tr>
<tr class="odd">
<td>12/24/08</td>
<td colspan="2">3,871,157</td>
<td colspan="2">3,785,724</td>
<td colspan="3">4,269</td>
<td colspan="2">0.7161</td>
</tr>
<tr class="even">
<td>12/31/08</td>
<td colspan="2">3,812,241</td>
<td colspan="2">3,725,174</td>
<td colspan="3">3,393</td>
<td colspan="2">0.7184</td>
</tr>
<tr class="odd">
<td></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td colspan="3"></td>
<td colspan="2"></td>
</tr>
</tbody>
</table>

<table style="width:100%;">
<colgroup>
<col style="width: 14%" />
<col style="width: 8%" />
<col style="width: 0%" />
<col style="width: 7%" />
<col style="width: 0%" />
<col style="width: 10%" />
<col style="width: 8%" />
<col style="width: 7%" />
<col style="width: 7%" />
<col style="width: 0%" />
<col style="width: 6%" />
<col style="width: 0%" />
<col style="width: 8%" />
<col style="width: 1%" />
<col style="width: 6%" />
<col style="width: 0%" />
<col style="width: 7%" />
<col style="width: 2%" />
</colgroup>
<tbody>
<tr class="odd">
<td colspan="18"><h2 id="section-vi.euro-positions-con.">SECTION
VI.—Euro Positions, con.</h2>
<h3
id="table-fcp-vi-2.monthly-report-of-major-market-participants">TABLE
FCP-VI-2.—Monthly Report of Major Market Participants</h3>
<p>[In millions of euros. Source: Office of International Monetary and
Financial Policy]</p></td>
</tr>
<tr class="even">
<td rowspan="3">Report date</td>
<td colspan="3" rowspan="2">Spot, forward<br />
and future contracts</td>
<td colspan="3" rowspan="2">Foreign currency denominated</td>
<td colspan="9">Options positions</td>
<td colspan="2" rowspan="3">Exchange<br />
rate<br />
(10)</td>
</tr>
<tr class="odd">
<td colspan="3">Calls</td>
<td colspan="4">Puts</td>
<td colspan="2" rowspan="2">Net delta<br />
equivalent<br />
(9)</td>
</tr>
<tr class="even">
<td colspan="2">Purchased<br />
(1)</td>
<td>Sold<br />
(2)</td>
<td colspan="2">Assets<br />
(3)</td>
<td>Liabilities<br />
(4)</td>
<td>Bought<br />
(5)</td>
<td colspan="2">Written<br />
(6)</td>
<td>Bought<br />
(7)</td>
<td colspan="3">Written<br />
(8)</td>
</tr>
<tr class="odd">
<td></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td></td>
</tr>
<tr class="even">
<td>2006 - Dec</td>
<td>2,908,461</td>
<td colspan="3">2,899,018</td>
<td>1,471,459</td>
<td>1,427,573</td>
<td>651,970</td>
<td>693,889</td>
<td colspan="3">508,842</td>
<td>587,473</td>
<td colspan="2">-14,933</td>
<td colspan="2">0.7578</td>
<td></td>
</tr>
<tr class="odd">
<td>2007 - Dec</td>
<td>4,057,077</td>
<td colspan="3">4,029,716</td>
<td>1,995,834</td>
<td>1,941,086</td>
<td>590,115</td>
<td>584,307</td>
<td colspan="3">558,711</td>
<td>557,451</td>
<td colspan="2">3,580</td>
<td colspan="2">0.6848</td>
<td></td>
</tr>
<tr class="even">
<td>2008 - Jan</td>
<td>4,507,929</td>
<td colspan="3">4,438,088</td>
<td>1,903,183</td>
<td>1,880,082</td>
<td>594,741</td>
<td>574,110</td>
<td colspan="3">574,188</td>
<td>587,291</td>
<td colspan="2">10,179</td>
<td colspan="2">0.6738</td>
<td></td>
</tr>
<tr class="odd">
<td><blockquote>
<p>Feb</p>
</blockquote></td>
<td>4,702,185</td>
<td colspan="3">4,642,890</td>
<td>1,992,369</td>
<td>1,960,485</td>
<td>591,100</td>
<td>594,740</td>
<td colspan="3">604,782</td>
<td>624,269</td>
<td colspan="2">2,606</td>
<td colspan="2">0.6585</td>
<td></td>
</tr>
<tr class="even">
<td><blockquote>
<p>Mar</p>
</blockquote></td>
<td>4,242,145</td>
<td colspan="3">4,202,857</td>
<td>2,026,042</td>
<td>1,971,843</td>
<td>590,344</td>
<td>587,194</td>
<td colspan="3">593,820</td>
<td>625,854</td>
<td colspan="2">7,609</td>
<td colspan="2">0.6327</td>
<td></td>
</tr>
<tr class="odd">
<td><blockquote>
<p>Apr</p>
</blockquote></td>
<td>4,480,698</td>
<td colspan="3">4,386,596</td>
<td>1,805,029</td>
<td>1,783,161</td>
<td>610,838</td>
<td>603,295</td>
<td colspan="3">593,853</td>
<td>645,204</td>
<td colspan="2">4,393</td>
<td colspan="2">0.6423</td>
<td></td>
</tr>
<tr class="even">
<td><blockquote>
<p>May</p>
</blockquote></td>
<td>4,578,782</td>
<td colspan="3">4,466,296</td>
<td>1,721,464</td>
<td>1,714,719</td>
<td>568,784</td>
<td>565,827</td>
<td colspan="3">590,647</td>
<td>639,306</td>
<td colspan="2">4,569</td>
<td colspan="2">0.6427</td>
<td></td>
</tr>
<tr class="odd">
<td><blockquote>
<p>June</p>
</blockquote></td>
<td>4,303,139</td>
<td colspan="3">4,237,361</td>
<td>1,616,625</td>
<td>1,628,034</td>
<td>608,851</td>
<td>615,710</td>
<td colspan="3">601,216</td>
<td>643,773</td>
<td colspan="2">6,264</td>
<td colspan="2">0.635</td>
<td></td>
</tr>
<tr class="even">
<td><blockquote>
<p>July</p>
</blockquote></td>
<td>4,522,842</td>
<td colspan="3">4,439,793</td>
<td>1,631,461</td>
<td>1,651,507</td>
<td>622,705</td>
<td>618,268</td>
<td colspan="3">576,367</td>
<td>602,236</td>
<td colspan="2">5,726</td>
<td colspan="2">0.6415</td>
<td></td>
</tr>
<tr class="odd">
<td><blockquote>
<p>Aug</p>
</blockquote></td>
<td>4,123,736</td>
<td colspan="3">4,058,301</td>
<td>1,687,561</td>
<td>1,634,104</td>
<td>619,280</td>
<td>640,618</td>
<td colspan="3">609,921</td>
<td>623,728</td>
<td colspan="2">7,810</td>
<td colspan="2">0.6817</td>
<td></td>
</tr>
<tr class="even">
<td><blockquote>
<p>Sept</p>
</blockquote></td>
<td>4,477,807</td>
<td colspan="3">4,418,145</td>
<td>1,355,892</td>
<td>1,343,229</td>
<td>538,382</td>
<td>572,137</td>
<td colspan="3">578,251</td>
<td>583,413</td>
<td colspan="2">642</td>
<td colspan="2">0.7102</td>
<td></td>
</tr>
<tr class="odd">
<td><blockquote>
<p>Oct</p>
</blockquote></td>
<td>4,839,339</td>
<td colspan="3">4,749,132</td>
<td>1,708,452</td>
<td>1,662,678</td>
<td>519,760</td>
<td>565,703</td>
<td colspan="3">582,178</td>
<td>580,715</td>
<td colspan="2">-639</td>
<td colspan="2">0.7885</td>
<td></td>
</tr>
<tr class="even">
<td><blockquote>
<p>Nov</p>
</blockquote></td>
<td>4,709,541</td>
<td colspan="3">4,624,402</td>
<td>1,853,674</td>
<td>1,816,912</td>
<td>494,904</td>
<td>534,155</td>
<td colspan="3">533,471</td>
<td>538,819</td>
<td colspan="2">-832</td>
<td colspan="2">0.7878</td>
<td></td>
</tr>
<tr class="odd">
<td><blockquote>
<p>Dec</p>
</blockquote></td>
<td>3,956,295</td>
<td colspan="3">3,869,172</td>
<td>1,836,594</td>
<td>1,823,683</td>
<td>466,120</td>
<td>501,559</td>
<td colspan="3">750,439</td>
<td>760,767</td>
<td colspan="2">1,108</td>
<td colspan="2">0.7184</td>
<td></td>
</tr>
<tr class="even">
<td></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td></td>
</tr>
</tbody>
</table>

<table style="width:100%;">
<colgroup>
<col style="width: 14%" />
<col style="width: 8%" />
<col style="width: 0%" />
<col style="width: 7%" />
<col style="width: 1%" />
<col style="width: 7%" />
<col style="width: 8%" />
<col style="width: 0%" />
<col style="width: 7%" />
<col style="width: 1%" />
<col style="width: 7%" />
<col style="width: 1%" />
<col style="width: 6%" />
<col style="width: 0%" />
<col style="width: 7%" />
<col style="width: 1%" />
<col style="width: 7%" />
<col style="width: 8%" />
<col style="width: 2%" />
</colgroup>
<tbody>
<tr class="odd">
<td colspan="19"><h3
id="table-fcp-vi-3.quarterly-report-of-large-market-participants">TABLE
FCP-VI-3.—Quarterly Report of Large Market Participants</h3>
<p>[In millions of euros. Source: Office of International Monetary and
Financial Policy]</p></td>
</tr>
<tr class="even">
<td rowspan="3">Report date</td>
<td colspan="4" rowspan="2">Spot, forward<br />
and future contracts</td>
<td colspan="3" rowspan="2">Foreign currency denominated</td>
<td colspan="9">Options positions</td>
<td colspan="2" rowspan="3">Exchange<br />
rate<br />
(10)</td>
</tr>
<tr class="odd">
<td colspan="3">Calls</td>
<td colspan="5">Puts</td>
<td rowspan="2">Net delta<br />
equivalent<br />
(9)</td>
</tr>
<tr class="even">
<td colspan="2">Purchased<br />
(1)</td>
<td colspan="2">Sold<br />
(2)</td>
<td>Assets<br />
(3)</td>
<td colspan="2">Liabilities<br />
(4)</td>
<td colspan="2">Bought<br />
(5)</td>
<td colspan="2">Written<br />
(6)</td>
<td colspan="2">Bought<br />
(7)</td>
<td colspan="2">Written<br />
(8)</td>
</tr>
<tr class="odd">
<td></td>
<td></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td></td>
<td></td>
</tr>
<tr class="even">
<td>2005 - Dec</td>
<td>117,211</td>
<td colspan="2">137,716</td>
<td colspan="2">198,507</td>
<td>129,312</td>
<td colspan="2">11,011</td>
<td colspan="2">7,622</td>
<td colspan="2">7,232</td>
<td colspan="2">6,209</td>
<td colspan="2">-867</td>
<td>0.8445</td>
<td></td>
</tr>
<tr class="odd">
<td>2006 - Mar</td>
<td>131,132</td>
<td colspan="2">149,125</td>
<td colspan="2">223,971</td>
<td>135,999</td>
<td colspan="2">10,580</td>
<td colspan="2">6,100</td>
<td colspan="2">6,992</td>
<td colspan="2">5,441</td>
<td colspan="2">-1,532</td>
<td>0.8238</td>
<td></td>
</tr>
<tr class="even">
<td>June</td>
<td>130,803</td>
<td colspan="2">137,764</td>
<td colspan="2">232,161</td>
<td>136,551</td>
<td colspan="2">6,763</td>
<td colspan="2">3,575</td>
<td colspan="2">7,462</td>
<td colspan="2">4,729</td>
<td colspan="2">-934</td>
<td>0.7825</td>
<td></td>
</tr>
<tr class="odd">
<td>Sept</td>
<td>141,600</td>
<td colspan="2">146,199</td>
<td colspan="2">220,610</td>
<td>154,973</td>
<td colspan="2">7,614</td>
<td colspan="2">3,680</td>
<td colspan="2">7,305</td>
<td colspan="2">5,329</td>
<td colspan="2">-2,956</td>
<td>0.7882</td>
<td></td>
</tr>
<tr class="even">
<td>Dec</td>
<td>126,039</td>
<td colspan="2">132,907</td>
<td colspan="2">207,774</td>
<td>150,191</td>
<td colspan="2">8,664</td>
<td colspan="2">2,967</td>
<td colspan="2">7,494</td>
<td colspan="2">4,987</td>
<td colspan="2">-603</td>
<td>0.7578</td>
<td></td>
</tr>
<tr class="odd">
<td>2007 - Mar</td>
<td>74,638</td>
<td colspan="2">81,811</td>
<td colspan="2">188,261</td>
<td>118,068</td>
<td colspan="2">9,318</td>
<td colspan="2">3,549</td>
<td colspan="2">11,618</td>
<td colspan="2">4,045</td>
<td colspan="2">-611</td>
<td>0.7477</td>
<td></td>
</tr>
<tr class="even">
<td>June</td>
<td>68,711</td>
<td colspan="2">81,208</td>
<td colspan="2">204,447</td>
<td>125,902</td>
<td colspan="2">7,443</td>
<td colspan="2">3,408</td>
<td colspan="2">10,670</td>
<td colspan="2">3,743</td>
<td colspan="2">-1,051</td>
<td>0.7396</td>
<td></td>
</tr>
<tr class="odd">
<td>Sept</td>
<td>82,783</td>
<td colspan="2">79,080</td>
<td colspan="2">218,344</td>
<td>139,178</td>
<td colspan="2">9,967</td>
<td colspan="2">3,207</td>
<td colspan="2">6,648</td>
<td colspan="2">2,948</td>
<td colspan="2">699</td>
<td>0.7033</td>
<td></td>
</tr>
<tr class="even">
<td>Dec</td>
<td>81,522</td>
<td colspan="2">80,991</td>
<td colspan="2">213,943</td>
<td>138,149</td>
<td colspan="2">8,674</td>
<td colspan="2">2,806</td>
<td colspan="2">5,653</td>
<td colspan="2">2,137</td>
<td colspan="2">-1,362</td>
<td>0.6848</td>
<td></td>
</tr>
<tr class="odd">
<td>2008 - Mar</td>
<td>126,180</td>
<td colspan="2">91,977</td>
<td colspan="2">262,397</td>
<td>157,462</td>
<td colspan="2">8,362</td>
<td colspan="2">5,988</td>
<td colspan="2">8,821</td>
<td colspan="2">7,976</td>
<td colspan="2">1,039</td>
<td>0.6327</td>
<td></td>
</tr>
<tr class="even">
<td>June</td>
<td>116,332</td>
<td colspan="2">88,752</td>
<td colspan="2">272,427</td>
<td>119,914</td>
<td colspan="2">9,806</td>
<td colspan="2">3,601</td>
<td colspan="2">10,018</td>
<td colspan="2">5,693</td>
<td colspan="2">3,067</td>
<td>0.6350</td>
<td></td>
</tr>
<tr class="odd">
<td>Sept</td>
<td>87,960</td>
<td colspan="2">94,583</td>
<td colspan="2">246,486</td>
<td>113,016</td>
<td colspan="2">10,431</td>
<td colspan="2">5,295</td>
<td colspan="2">8,896</td>
<td colspan="2">9,632</td>
<td colspan="2">1,653</td>
<td>0.7102</td>
<td></td>
</tr>
<tr class="even">
<td></td>
<td></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td></td>
<td></td>
</tr>
</tbody>
</table>