December 6, 2012

Flow of Funds Accounts 

of the United States 

Annual Flows and Outstandings

1995-2004

Board of Governors of the Federal Reserve System, Washington D.C. 20551 
Table of Contents

Flows Levels

Title Table Page Table Page

Summaries

Total Credit Market Borrowing and Lending F.1 1 L.1 55 

Credit Market Borrowing by Nonfinancial Sectors F.2 2 L.2 56 

Credit Market Borrowing by Financial Sectors F.3 2 L.3 56 

Credit Market Borrowing, All Sectors, by Instrument F.4 3 L.4 57 

Total Liabilities and Its Relation to Total Financial Assets F.5 3 L.5 57 

Distribution of Gross Domestic Product F.6 4 

Distribution of National Income F.7 5 

Saving and Investment F.8 6 

Net Capital Transfers F.9 7 

Derivation of Measures of Personal Saving F.10 8 L.10 58 

Sectors

Households and Nonprofit Organizations F.100 9 L.100 59 

Nonfinancial Business F.101 10 L.101 60 

 Nonfinancial Corporate Business F.102 11 L.102 61 

Nonfinancial Noncorporate Business F.103 12 L.103 62 

State and Local Governments F.104 13 L.104 63 

Federal Government F.105 14 L.105 64 

Rest of the World F.106 15 L.106 65 
Flows Levels

Title Table Page Table Page

Financial Business F.107 16 L.107 66 

Monetary Authority F.108 17 L.108 67 

Private Depository Institutions F.109 18 L.109 68 

 U.S.-Chartered Depository Institutions, ex. Credit Unions F.110 19 L.110 69 

 Foreign Banking Offices in U.S. F.111 20 L.111 70 

 Banks in U.S.-Affiliated Areas F.112 21 L.112 71 

 Credit Unions F.113 21 L.113 71 

Property-Casualty Insurance Companies F.114 22 L.114 72 

Life Insurance Companies F.115 22 L.115 72 

Private Pension Funds F.116 23 L.116 73 

State and Local Government Employee Retirement Funds F.117 24 L.117 74 

Federal Government Retirement Funds F.118 24 L.118 74 

Money Market Mutual Funds F.119 25 L.119 75 

Mutual Funds F.120 25 L.120 75 

Closed-End and Exchange-Traded Funds F.121 25 L.121 75 

Government-Sponsored Enterprises F.122 26 L.122 76

Agency- and GSE-Backed Mortgage Pools F.123 26 L.123 76 

Issuers of Asset-Backed Securities F.124 27 L.124 77 

Finance Companies F.125 27 L.125 77 

Real Estate Investment Trusts F.126 28 L.126 78 

Security Brokers and Dealers F.129 29 L.129 79 

Holding Companies F.112 30 L.112 80 

Funding Corporations F.130 31 L.130 81 
Flows Levels

Title Table Page Table Page 

Instruments 

U.S. Official Reserve Assets and SDR Allocations F.200 32 L.200 82 

Special Drawing Rights (SDRs) Certificates and Treasury Currency F.201 32 L.201 82 

U.S. Deposits in Foreign Countries F.202 32 L.202 82 

Net Interbank Transactions F.203 33 L.203 83 

Checkable Deposits and Currency F.204 34 L.204 84 

Time and Savings Deposits F.205 35 L.205 85 

Money Market Mutual Fund Shares F.206 35 L.206 85 

Federal Funds and Security Repurchase Agreements F.207 36 L.207 86 

Open Market Paper F.208 37 L.208 87 

Treasury Securities F.209 38 L.209 88 

Agency- and GSE-Backed Securities F.210 39 L.210 89

Municipal Securities and Loans F.211 40 L.211 90 

Corporate and Foreign Bonds F.212 41 L.212 91 

Corporate Equities F.213 42 L.213 92 

Mutual Fund Shares F.214 42 L.214 92 

Depository Institution Loans Not Elsewhere Classified F.215 43 L.215 93 

Other Loans and Advances F.216 44 L.216 94 

Total Mortgages F.217 45 L.217 95 

Home Mortgages F.218 46 L.218 96 

Multifamily Residential Mortgages F.219 46 L.219 96 

Commercial Mortgages F.220 47 L.220 97 

Farm Mortgages F.221 47 L.221 97 

Consumer Credit F.222 48 L.222 98 
Flows Levels

Title Table Page Table Page 

Trade Credit F.223 48 L.223 98 

Security Credit F.224 48 L.224 98 

Life Insurance and Pension Fund Reserves F.225 49 L.225 99 

Taxes Payable by Businesses F.226 49 L.226 99 

Proprietors' Equity in Noncorporate Business F.227 49 L.227 99 

Total Miscellaneous Financial Claims F.228 50 L.228 100 

 Identified Miscellaneous Financial Claims - Part I F.229 51 L.229 101 

 Identified Miscellaneous Financial Claims - Part II F.230 52 L.230 102 

Unidentified Miscellaneous Financial Claims F.231 53 L.231 103 

Sector Discrepancies F.11 54 

Instrument Discrepancies F.12 54 

Balance Reconciliation

Sheet

Title Table Page Table Page

Balance Sheet, Reconciliation, and 

Supplementary Tables 

Households and Nonprofit Organizations B.100 104 R.100 107 

Nonfarm Nonfinancial Corporate Business B.102 105 R.102 108 

Nonfarm Noncorporate Business B.103 106 R.103 109 

Balance Sheet of Households and Nonprofit Organizations 

with Equity Detail B.100.e 110 

Consolidated Statement for Federal, State, and Local Governments F.105.c 111 L.105.c 112 

Private Pension Funds: Defined Benefit Plans F.116.b 113 L.116.b 114 

Private Pension Funds: Defined Contribution Plans F.116.c 113 L.116.c 114 

Individual Retirement Accounts (IRAs) F.225.i 113 L.225.i 114 
FFA, 1995-2004, December 6, 2012 1

F.1 Total Credit Market Borrowing and Lending (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Credit market borrowing 1165.3 1316.9 1432.4 2061.8 2083.7 1717.8 2009.2 2397.5 2783.5 3161.4 1

 2 Domestic nonfinancial sectors 653.3 705.6 792.2 998.0 1012.2 863.9 1158.1 1422.7 1669.5 2067.2 2

 3 Household sector 319.0 324.8 305.0 414.8 474.5 576.0 665.3 811.2 992.8 1051.3 3

 4 Nonfinancial corporate business 205.3 186.0 311.3 390.1 377.8 374.5 229.6 57.5 86.2 249.8 4

 5 Nonfinancial noncorporate business 45.3 70.4 102.0 179.0 193.8 192.4 163.5 151.8 73.8 254.7 5

 6 State and local governments -60.8 -20.5 50.8 66.8 37.3 16.9 105.5 144.6 120.5 149.5 6

 7 Federal government 144.4 144.9 23.1 -52.6 -71.2 -295.9 -5.6 257.6 396.0 361.9 7

 8 Rest of the world 78.3 88.0 69.9 37.2 19.0 63.0 -11.2 93.4 43.0 155.3 8

 9 Financial sectors 433.6 523.2 570.3 1026.5 1052.6 790.9 862.2 881.4 1071.0 938.9 9

10 U.S.-chartered depository institutions 8.6 35.8 45.8 94.7 105.4 56.6 26.6 2.3 32.4 81.2 10

11 Foreign banking offices in U.S. -3.1 -0.7 -2.4 -4.8 -0.4 -0.0 -0.9 -0.4 -0.1 0.1 11

12 Credit unions -0.1 0.1 0.1 0.6 2.2 0.0 1.5 2.0 2.2 2.3 12

13 Life insurance companies -0.1 1.1 0.2 0.7 0.7 -0.7 0.6 2.0 2.9 3.0 13

14 Government-sponsored enterprises 106.0 90.4 99.1 278.9 318.8 235.2 304.1 219.8 250.9 75.0 14

15 Agency- and GSE-backed mortgage pools 98.3 141.0 114.6 192.7 274.6 199.7 338.5 326.8 335.4 40.8 15

16 ABS issuers 127.8 114.6 137.3 258.1 153.8 169.2 261.8 228.5 249.8 439.6 16

17 Finance companies 47.9 54.7 29.3 60.9 75.5 86.3 10.9 66.2 111.1 134.3 17

18 REITs 4.5 11.9 39.6 62.7 8.3 2.8 3.8 27.0 32.3 94.6 18

19 Brokers and dealers -5.0 -2.0 8.1 7.2 -17.2 15.6 1.4 -1.7 6.4 15.2 19

20 Holding companies 13.8 12.6 18.7 34.9 39.2 27.7 17.3 19.6 50.9 55.7 20

21 Funding corporations 34.9 63.8 79.9 40.0 91.6 -1.6 -103.6 -10.7 -3.2 -2.9 21

22 Credit market lending 1165.3 1316.9 1432.4 2061.8 2083.7 1717.8 2009.2 2397.5 2783.5 3161.4 22

23 Domestic nonfinancial sectors -124.6 52.7 -47.4 140.1 99.4 40.0 -22.5 126.8 100.2 388.3 23

24 Household sector -3.6 88.7 -54.2 28.9 20.5 -67.4 -122.7 7.5 61.4 215.8 24

25 Nonfinancial corporate business -8.8 -10.2 -7.2 -17.0 -24.2 26.5 -4.7 25.9 -2.7 31.2 25

26 Nonfinancial noncorporate business 3.8 4.0 2.6 12.9 -3.1 2.1 7.1 -0.8 1.5 11.5 26

27 State and local governments -91.4 -33.7 0.1 109.7 101.9 70.7 93.9 86.2 42.5 127.5 27

28 Federal government -24.7 3.9 11.3 5.6 4.3 8.1 3.9 8.0 -2.6 2.3 28

29 Rest of the world 246.8 379.6 259.6 168.5 146.4 242.2 299.2 467.2 582.8 854.4 29

30 Financial sectors 1043.0 884.7 1220.2 1753.2 1837.9 1435.7 1732.4 1803.5 2100.5 1918.7 30

31 Monetary authority 12.7 12.3 38.3 21.1 25.7 33.7 39.9 77.7 37.2 51.2 31

32 U.S.-chartered depository institutions 173.8 138.1 266.8 338.8 401.4 388.3 234.8 423.0 464.3 648.5 32

33 Foreign banking offices in U.S. 75.3 63.4 40.2 -11.6 -17.0 23.9 -0.5 6.2 -38.5 22.2 33

34 Banks in U.S.-affiliated areas 4.2 0.7 3.7 6.0 4.4 6.7 10.0 1.3 10.6 13.9 34

35 Credit unions 16.2 25.5 16.8 18.9 27.5 28.0 41.5 44.2 51.2 39.8 35

36 Property-casualty insurance companies 26.7 21.2 25.0 10.7 -12.3 -2.2 2.2 48.1 75.8 86.0 36

37 Life insurance companies 100.0 69.6 104.8 76.9 53.5 57.9 127.6 228.8 178.4 165.2 37

38 Private pension funds 16.9 -6.1 44.5 -7.1 107.2 -125.0 -34.8 -5.4 71.8 1.1 38

39 State and local govt. retirement funds 31.1 28.6 59.9 63.2 45.5 36.3 -53.8 -50.7 18.8 17.8 39

40 Federal government retirement funds 3.4 2.4 1.8 2.7 2.9 2.1 9.7 13.2 6.8 5.2 40

41 Money market mutual funds 86.5 88.8 87.5 248.6 184.9 138.3 267.3 -17.7 -95.9 -124.9 41

42 Mutual funds 52.5 48.9 80.9 127.3 48.4 26.3 126.6 138.7 138.0 116.6 42

43 Closed-end funds 8.5 2.9 -1.1 4.9 9.6 -5.6 3.2 8.6 35.5 11.0 43

44 Exchange-traded funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3.7 0.7 3.8 44

45 Government-sponsored enterprises 95.3 97.3 106.7 317.3 287.3 246.0 304.7 224.0 241.1 48.9 45

46 Agency- and GSE-backed mortgage pools 98.3 141.0 114.6 192.7 274.6 199.7 338.5 326.8 335.4 40.8 46

47 ABS issuers 110.7 100.2 114.4 252.3 174.5 156.3 249.0 235.2 241.2 430.0 47

48 Finance companies 59.5 42.6 23.7 92.0 133.8 155.3 68.9 121.8 176.2 207.2 48

49 REITs 1.4 4.4 20.2 -5.1 0.9 -5.2 9.1 22.2 26.4 87.6 49

50 Brokers and dealers 90.1 -15.7 14.9 6.8 -34.7 68.9 92.4 28.4 79.6 -29.2 50

51 Holding companies -0.3 3.9 5.4 -0.9 6.2 -12.2 4.2 3.1 8.6 -0.0 51

52 Funding corporations -19.8 14.8 51.3 -2.2 113.5 18.2 -108.0 -77.9 37.2 76.2 52

(1) Excludes corporate equities and mutual fund shares.
2 FFA, 1995-2004, December 6, 2012

F.2 Credit Market Borrowing by Nonfinancial Sectors

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Domestic 653.3 705.6 792.2 998.0 1012.2 863.9 1158.1 1422.7 1669.5 2067.2 1

 2 By instrument 653.3 705.6 792.2 998.0 1012.2 863.9 1158.1 1422.7 1669.5 2067.2 2

 3 Commercial paper 18.1 -0.9 13.7 24.4 37.4 48.1 -83.1 -57.9 -37.3 15.3 3

 4 Treasury securities 142.9 146.6 23.2 -54.6 -71.0 -294.9 -5.1 257.1 398.4 362.5 4

 5 Agency- and GSE-backed securities 1.5 -1.6 -0.1 2.0 -0.2 -1.0 -0.5 0.5 -2.4 -0.6 5

 6 Municipal securities -57.6 -6.5 56.9 84.2 54.4 23.6 122.7 159.4 137.6 183.7 6

 7 Corporate bonds 78.9 111.9 160.4 217.6 210.7 167.9 346.1 136.8 155.4 87.7 7

 8 Depository institution loans n.e.c. 106.7 63.0 110.1 101.6 73.4 101.8 -77.3 -103.3 -84.4 17.3 8

 9 Other loans and advances 34.7 27.7 60.1 65.6 27.5 87.0 -0.5 35.3 5.3 52.9 9

10 Mortgages 181.1 259.9 297.6 460.3 567.7 554.8 705.2 889.7 991.0 1231.2 10

11 Home 167.5 223.2 234.6 356.2 427.5 425.8 551.8 754.9 814.0 1021.4 11

12 Multifamily residential 4.3 9.7 6.8 25.4 38.7 26.5 40.6 37.3 70.9 47.0 12

13 Commercial 7.5 24.3 52.0 74.0 97.4 104.9 109.1 90.7 118.3 150.2 13

14 Farm 1.8 2.7 4.1 4.6 4.1 -2.5 3.8 6.9 -12.2 12.5 14

15 Consumer credit 147.0 105.7 70.3 97.1 112.4 176.5 150.6 105.2 105.9 117.2 15

16 By sector 653.3 705.6 792.2 998.0 1012.2 863.9 1158.1 1422.7 1669.5 2067.2 16

17 Household sector 319.0 324.8 305.0 414.8 474.5 576.0 665.3 811.2 992.8 1051.3 17

18 Nonfinancial business 250.7 256.5 413.3 569.1 571.6 566.9 393.0 209.4 160.1 504.5 18

19 Corporate 205.3 186.0 311.3 390.1 377.8 374.5 229.6 57.5 86.2 249.8 19

20 Noncorporate 45.3 70.4 102.0 179.0 193.8 192.4 163.5 151.8 73.8 254.7 20

21 State and local governments -60.8 -20.5 50.8 66.8 37.3 16.9 105.5 144.6 120.5 149.5 21

22 Federal government 144.4 144.9 23.1 -52.6 -71.2 -295.9 -5.6 257.6 396.0 361.9 22

23 Foreign borrowing in U.S. 78.3 88.0 69.9 37.2 19.0 63.0 -11.2 93.4 43.0 155.3 23

24 Commercial paper 13.5 11.3 3.7 7.8 16.3 31.7 18.3 58.8 18.9 69.2 24

25 Bonds 56.9 66.6 59.6 28.8 7.9 21.2 -18.5 31.6 28.7 85.8 25

26 Depository institution loans n.e.c. 8.5 9.1 8.5 6.6 0.5 11.4 -7.3 5.3 -2.5 3.8 26

27 Other loans and advances -0.5 1.0 -1.8 -6.0 -5.7 -1.3 -3.8 -2.3 -2.1 -3.6 27

28 Domestic and foreign 731.7 793.6 862.1 1035.3 1031.1 926.9 1146.9 1516.1 1712.4 2222.5 28

F.3 Credit Market Borrowing by Financial Sectors

Billions of dollars

 1 By instrument 433.6 523.2 570.3 1026.5 1052.6 790.9 862.2 881.4 1071.0 938.9 1

 2 Open market paper 42.7 92.2 166.7 161.0 176.2 131.7 -126.9 -99.9 -63.5 21.7 2

 3 GSE issues 106.0 90.4 99.1 278.9 318.8 235.2 304.1 219.8 250.9 75.0 3

 4 Agency- and GSE-backed mortgage pool sec. 98.3 141.0 114.6 192.7 274.6 199.7 338.5 326.8 335.4 40.8 4

 5 Corporate bonds 181.2 141.9 130.0 246.8 148.6 173.7 307.5 398.8 487.3 668.5 5

 6 Depository institution loans n.e.c. -3.3 21.9 9.5 32.1 20.1 3.4 11.2 17.9 20.9 33.4 6

 7 Other loans and advances 3.4 27.9 35.6 90.2 107.1 42.5 25.5 6.8 31.2 74.1 7

 8 Mortgages 5.3 7.9 14.9 24.8 7.2 4.7 2.2 11.2 8.9 25.5 8

 9 By sector 433.6 523.2 570.3 1026.5 1052.6 790.9 862.2 881.4 1071.0 938.9 9

10 U.S.-chartered depository institutions 8.6 35.8 45.8 94.7 105.4 56.6 26.6 2.3 32.4 81.2 10

11 Foreign banking offices in U.S. -3.1 -0.7 -2.4 -4.8 -0.4 -0.0 -0.9 -0.4 -0.1 0.1 11

12 Credit unions -0.1 0.1 0.1 0.6 2.2 0.0 1.5 2.0 2.2 2.3 12

13 Life insurance companies -0.1 1.1 0.2 0.7 0.7 -0.7 0.6 2.0 2.9 3.0 13

14 Government-sponsored enterprises 106.0 90.4 99.1 278.9 318.8 235.2 304.1 219.8 250.9 75.0 14

15 Agency- and GSE-backed mortgage pools 98.3 141.0 114.6 192.7 274.6 199.7 338.5 326.8 335.4 40.8 15

16 ABS issuers 127.8 114.6 137.3 258.1 153.8 169.2 261.8 228.5 249.8 439.6 16

17 Finance companies 47.9 54.7 29.3 60.9 75.5 86.3 10.9 66.2 111.1 134.3 17

18 REITs 4.5 11.9 39.6 62.7 8.3 2.8 3.8 27.0 32.3 94.6 18

19 Brokers and dealers -5.0 -2.0 8.1 7.2 -17.2 15.6 1.4 -1.7 6.4 15.2 19

20 Holding companies 13.8 12.6 18.7 34.9 39.2 27.7 17.3 19.6 50.9 55.7 20

21 Funding corporations 34.9 63.8 79.9 40.0 91.6 -1.6 -103.6 -10.7 -3.2 -2.9 21
FFA, 1995-2004, December 6, 2012 3

F.4 Credit Market Borrowing, All Sectors, by Instrument

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total 1165.3 1316.9 1432.4 2061.8 2083.7 1717.8 2009.2 2397.5 2783.5 3161.4 1

 2 Open market paper 74.3 102.6 184.1 193.1 229.9 211.6 -191.6 -99.1 -82.0 106.2 2

 3 Treasury securities 142.9 146.6 23.2 -54.6 -71.0 -294.9 -5.1 257.1 398.4 362.5 3

 4 Agency- and GSE-backed securities 205.8 229.8 213.6 473.6 593.1 433.9 642.1 547.2 583.8 115.2 4

 5 Municipal securities -57.6 -6.5 56.9 84.2 54.4 23.6 122.7 159.4 137.6 183.7 5

 6 Corporate and foreign bonds 317.1 320.4 349.9 493.3 367.2 362.8 635.1 567.2 671.5 842.0 6

 7 Depository institution loans n.e.c. 111.8 94.0 128.1 140.2 94.0 116.6 -73.4 -80.0 -66.0 54.5 7

 8 Other loans and advances 37.6 56.7 93.9 149.8 128.9 128.1 21.3 39.7 34.4 123.4 8

 9 Mortgages 186.4 267.8 312.5 485.1 575.0 559.6 707.5 900.9 999.9 1256.7 9

10 Consumer credit 147.0 105.7 70.3 97.1 112.4 176.5 150.6 105.2 105.9 117.2 10

 Memo:

 Funds raised through corporate equities and mutual fund shares

11 Total net issues 147.3 251.8 217.4 168.9 196.9 243.2 305.8 253.3 433.1 378.8 11

12 Corporate equities -0.1 14.3 -47.7 -110.6 5.6 5.6 100.9 72.2 144.5 80.5 12

13 Nonfinancial -58.3 -47.3 -77.4 -215.5 -110.4 -118.2 -48.1 -16.2 -39.6 -122.7 13

 Foreign shares purchased by

14 U.S. residents 65.4 82.8 57.6 101.4 114.3 106.7 109.1 17.0 118.0 84.8 14

15 Financial -7.2 -21.3 -27.9 3.5 1.7 17.1 39.9 71.5 66.1 118.4 15

16 Mutual fund shares 147.4 237.6 265.1 279.5 191.2 237.6 204.9 181.1 288.6 298.2 16

F.5 Net Increase in Liabilities and Its Relation to Net Acquisition of Financial Assets

Billions of dollars

 Net flows through credit markets

 1 (from table F.4, line 1) 1165.3 1316.9 1432.4 2061.8 2083.7 1717.8 2009.2 2397.5 2783.5 3161.4 1

 2 U.S. official reserve assets 9.6 -6.7 1.0 6.8 -8.7 0.3 4.9 3.7 -1.5 -2.8 2

 3 SDR certificates 2.2 -0.5 -0.5 0.0 -3.0 -4.0 0.0 0.0 0.0 0.0 3

 4 Treasury currency 0.7 0.5 0.5 0.6 1.0 2.4 1.3 1.0 0.6 0.7 4

 5 Foreign deposits 35.3 85.9 107.7 9.1 48.9 126.9 6.8 21.0 36.0 89.9 5

 6 Net interbank transactions 12.3 -47.1 -22.1 -40.3 11.2 -19.2 -49.2 13.8 25.2 -5.2 6

 7 Checkable deposits and currency -28.8 -11.0 8.8 11.1 112.0 -113.5 110.6 -7.9 84.5 85.4 7

 8 Small time and savings deposits 112.6 123.9 129.5 189.3 83.8 231.0 314.6 325.4 307.4 281.6 8

 9 Large time deposits 65.6 114.0 122.5 91.8 131.1 116.2 68.5 50.0 55.8 252.9 9

10 Money market fund shares 141.2 145.4 155.9 285.4 251.7 232.5 428.5 -16.7 -207.5 -136.5 10

11 Security RPs 96.9 44.3 100.3 39.7 130.8 75.5 41.4 108.7 223.9 80.3 11

12 Corporate equities -0.1 14.3 -47.7 -110.6 5.6 5.6 100.9 72.2 144.5 80.5 12

13 Mutual fund shares 147.4 237.6 265.1 279.5 191.2 237.6 204.9 181.1 288.6 298.2 13

14 Trade payables 122.4 111.2 128.2 105.0 256.3 394.5 -84.4 86.8 21.5 194.7 14

15 Security credit 26.7 52.4 111.0 103.2 104.4 146.1 3.1 -87.0 120.0 179.4 15

16 Life insurance reserves 45.8 44.5 59.3 48.0 50.8 50.2 77.2 60.1 66.8 33.1 16

17 Pension fund reserves 176.2 158.3 220.8 286.7 147.8 263.0 290.5 274.7 297.3 357.9 17

18 Taxes payable 8.6 16.0 21.7 13.2 20.2 28.9 11.8 9.4 -1.9 20.5 18

19 Noncorporate proprietors’ equity 23.4 1.2 -17.3 -30.8 -56.5 0.7 15.4 -29.2 100.7 123.8 19

20 Miscellaneous 482.1 617.3 526.1 891.4 1135.7 1373.2 814.4 606.2 386.1 1579.8 20

21 Total financial sources 2645.4 3018.5 3303.2 4240.7 4698.1 4865.5 4370.1 4070.9 4731.4 6675.4 21

 - Liabilities not identified as assets:

22 Treasury currency -0.3 -0.4 -0.1 -0.2 -0.7 -1.2 -0.1 -0.6 -0.3 -0.3 22

23 Foreign deposits 25.0 59.4 106.2 -5.7 34.0 76.4 -12.9 21.5 52.8 61.9 23

24 Net interbank liabilities -4.7 -3.0 -21.5 -4.1 -7.8 18.7 -0.7 4.2 -8.7 15.8 24

25 Security RPs 24.9 -3.4 42.7 21.8 -16.8 113.5 98.1 71.9 160.6 0.9 25

26 Taxes payable 16.0 13.9 27.7 17.6 9.3 39.7 20.6 9.7 -36.3 -13.1 26

27 Miscellaneous -168.6 -170.1 -394.4 -170.0 -237.9 -412.0 -306.1 -94.6 -268.3 -221.3 27

 - Floats not included in assets:

28 Checkable deposits: State and local govt. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

29 Federal govt. -6.0 0.5 -2.7 2.6 -7.4 9.0 -40.0 -1.6 -8.9 27.9 29

30 Private domestic -3.8 -4.0 -3.9 -3.1 -0.8 -0.3 -0.5 -0.7 -0.0 -9.7 30

31 Trade credit 3.8 -27.6 -22.5 -18.1 15.4 16.3 7.1 165.1 33.2 23.9 31

 Totals identified to sectors

32 as assets 2759.1 3153.3 3571.7 4399.9 4910.8 5005.5 4604.6 3896.0 4807.2 6789.5 32
4 FFA, 1995-2004, December 6, 2012

F.6 Distribution of Gross Domestic Product (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Gross Domestic Product (GDP) 7414.7 7838.5 8332.4 8793.5 9353.5 9951.5 10286.2 10642.3 11142.2 11853.3 1

 2 Personal consumption expenditures (2) 4987.3 5273.6 5570.6 5918.5 6342.8 6830.4 7148.8 7439.2 7804.1 8270.6 2

 3 Durable goods 635.7 676.3 715.5 780.0 857.4 915.8 946.3 992.1 1019.9 1072.9 3

 4 Nondurable goods 1179.8 1241.4 1291.2 1330.0 1432.6 1543.4 1587.7 1617.9 1708.1 1819.3 4

 5 Services 3171.7 3355.9 3563.9 3808.5 4052.8 4371.2 4614.8 4829.2 5076.1 5378.5 5

 6 Gross private domestic investment 1144.0 1240.2 1388.7 1510.8 1641.5 1772.2 1661.9 1647.0 1729.7 1968.6 6

 7 Fixed investment 1112.9 1209.4 1317.7 1447.1 1580.7 1717.7 1700.2 1634.9 1713.3 1903.6 7

 8 Nonresidential 810.0 875.4 968.6 1061.1 1154.9 1268.7 1227.8 1125.4 1135.7 1223.0 8

 9 Household sector (nonprofit organizations) 43.2 45.8 58.7 65.7 69.0 76.3 79.0 82.6 87.8 95.9 9

10 Nonfinancial corporate business 583.7 629.9 696.3 746.5 809.4 897.5 860.5 749.8 758.5 804.4 10

11 Nonfinancial noncorporate business 85.9 91.6 100.2 116.6 131.0 148.5 151.0 156.6 154.0 167.6 11

12 Financial institutions 97.3 108.1 113.4 132.3 145.5 146.4 137.3 136.4 135.4 155.1 12

13 Residential 302.9 334.1 349.1 385.9 425.8 449.0 472.4 509.5 577.6 680.6 13

14 Household sector 251.5 282.2 293.6 331.6 362.6 382.2 406.7 439.3 498.9 594.4 14

15 Nonfinancial corporate business 0.1 -1.7 -7.8 -8.0 2.2 0.9 0.7 0.5 5.9 0.7 15

16 Nonfinancial noncorporate business 48.6 49.1 52.0 50.9 59.1 62.1 60.9 65.1 73.0 80.0 16

17 REITs 2.7 4.4 11.3 11.4 1.8 3.8 4.1 4.6 -0.2 5.5 17

18 Change in private inventories 31.2 30.8 71.0 63.7 60.8 54.5 -38.3 12.0 16.4 64.9 18

19 Nonfinancial corporate business 39.1 21.9 64.6 59.5 60.1 53.0 -36.4 13.5 15.5 54.4 19

20 Nonfinancial noncorporate business -7.9 8.9 6.4 4.2 0.8 1.6 -1.9 -1.5 0.9 10.5 20

21 Net U.S. exports of goods and services -90.7 -96.3 -101.4 -161.8 -262.1 -382.1 -371.0 -427.2 -504.1 -618.7 21

22 Exports 811.9 867.7 954.4 953.9 989.3 1093.2 1027.7 1003.0 1041.0 1180.2 22

23 - Imports 902.6 964.0 1055.8 1115.7 1251.4 1475.3 1398.7 1430.2 1545.1 1798.9 23

 Government consumption expenditures and

24 gross investment 1374.0 1421.0 1474.4 1526.1 1631.3 1731.0 1846.4 1983.3 2112.6 2232.8 24

25 Consumption expenditures (3) 1141.4 1176.7 1222.1 1263.2 1343.9 1426.6 1524.4 1639.9 1756.8 1860.4 25

26 Federal 440.1 446.5 457.5 454.6 473.3 496.0 530.2 590.5 660.3 721.4 26

27 State and local 701.3 730.2 764.5 808.6 870.6 930.6 994.2 1049.4 1096.5 1139.1 27

28 Gross investment (3) 232.6 244.2 252.4 262.9 287.4 304.3 322.0 343.5 355.8 372.4 28

29 Federal 78.6 80.4 73.4 76.4 81.6 80.1 81.5 90.1 96.2 103.3 29

30 State and local 154.0 163.8 178.9 186.4 205.7 224.3 240.5 253.3 259.6 269.1 30

 Memo:

31 Net U.S. income receipts from rest of the world 29.7 31.7 23.4 17.3 27.8 37.7 51.9 49.1 68.7 91.2 31

32 U.S. income receipts 229.3 245.8 279.5 286.2 319.5 380.5 323.0 313.5 353.3 448.6 32

33 - U.S. income payments 199.6 214.2 256.1 268.9 291.7 342.8 271.1 264.4 284.6 357.4 33

 Gross National Product (GNP) =

34 GDP + net U.S. income receipts 7444.3 7870.1 8355.8 8810.8 9381.3 9989.2 10338.1 10691.4 11210.9 11944.5 34

 Acquisition of nonproduced nonfinancial assets (net)

35 Household sector -4.8 -4.6 -4.8 -5.9 -6.6 -6.8 -7.8 -8.3 -8.5 -8.7 35

36 Nonfinancial corporate business 5.4 2.4 6.7 4.1 -1.7 -1.6 -1.7 -3.2 -2.9 -2.7 36

37 State and local governments 6.6 6.0 5.8 7.6 8.6 8.6 10.1 11.2 11.4 11.4 37

38 Federal governments -7.4 -3.8 -7.6 -5.8 -0.4 -0.2 -0.7 0.3 -0.2 0.0 38

39 Rest of the world 0.2 -0.0 -0.1 0.0 0.0 0.0 0.0 0.1 0.1 0.0 39

(1) This table is based on NIPA table 1.1.5 in the Survey of Current Business, Bureau of Economic Analysis (www.bea.gov).

(2) Component of personal outlays, found on table F.100, line 4.

(3) Government inventory investment is included in consumption expenditures.
FFA, 1995-2004, December 6, 2012 5

F.7 Distribution of National Income (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 National Income 6522.3 6931.7 7406.0 7875.6 8358.0 8938.9 9185.2 9408.5 9840.2 10534.1 1

 2 Compensation of employees 4195.2 4391.4 4665.6 5023.2 5353.9 5788.8 5979.3 6110.8 6382.6 6693.4 2

 3 Wages and other labor income 3914.7 4112.9 4379.0 4716.7 5025.4 5443.6 5621.3 5744.7 5985.2 6300.3 3

 4 Employer social insurance contributions 264.1 274.8 289.6 307.2 323.3 345.2 358.0 366.1 382.4 408.1 4

 5 Wage accruals less disbursements 16.4 3.6 -2.9 -0.7 5.2 0.0 0.0 0.0 15.0 -15.0 5

 Proprietors’ income with inventory

 6 valuation and capital consumption adjustments 516.0 583.7 628.2 687.5 746.8 817.5 870.7 890.3 930.6 1033.8 6

 Rental income of persons (with capital

 7 consumption adjustment) 154.6 170.4 176.5 191.5 208.2 215.3 232.4 218.7 204.2 198.4 7

 Corporate profits with inventory

 8 valuation and capital consumption adjustments 716.2 801.5 884.8 812.4 856.3 819.2 784.2 872.2 977.8 1246.9 8

 Corporate profits with inventory

 9 valuation adjustment 666.0 743.8 815.9 738.6 776.6 755.7 720.8 762.8 892.2 1195.1 9

10 Profits before tax 684.3 740.7 801.8 722.9 780.5 772.5 712.7 765.3 903.5 1229.4 10

11 Domestic nonfinancial 431.2 471.3 506.8 460.5 468.6 432.5 315.1 342.3 425.9 662.1 11

12 Domestic financial 160.1 167.5 187.4 159.6 190.4 194.4 228.0 265.2 311.8 362.3 12

13 Rest of the world 92.9 102.0 107.6 102.8 121.5 145.6 169.7 157.9 165.8 205.0 13

 Less:

14 Taxes on corporate income 217.8 231.5 245.4 248.4 258.8 265.1 203.3 192.3 243.8 306.1 14

15 Domestic nonfinancial 140.3 152.9 161.4 158.7 171.4 170.2 111.2 97.1 132.9 187.0 15

16 Domestic financial 77.5 78.5 84.1 89.7 87.4 94.9 92.1 95.2 110.9 119.1 16

 Equals:

17 Profits after tax 466.5 509.3 556.3 474.5 521.7 507.4 509.4 573.0 659.7 923.3 17

18 Net dividends 254.4 297.7 331.2 351.5 337.4 377.9 370.9 399.3 424.9 550.3 18

19 Domestic nonfinancial 178.0 197.5 215.9 241.0 224.7 251.3 245.4 254.8 293.4 364.5 19

20 Domestic financial 43.6 59.8 68.0 68.2 71.0 97.1 84.6 96.4 99.4 123.5 20

21 Rest of the world 32.8 40.4 47.2 42.3 41.7 29.4 40.9 48.1 32.1 62.3 21

22 Undistributed profits 212.1 211.5 225.1 123.1 184.3 129.5 138.5 173.8 234.8 373.0 22

23 Domestic nonfinancial 112.9 120.8 129.5 60.8 72.5 10.9 -41.6 -9.6 -0.4 110.6 23

24 Domestic financial 39.0 29.1 35.3 1.8 32.0 2.4 51.3 73.6 101.6 119.7 24

25 Rest of the world 60.2 61.6 60.3 60.5 79.8 116.2 128.8 109.8 133.7 142.7 25

26 Inventory valuation adjustment -18.3 3.1 14.1 15.7 -4.0 -16.8 8.0 -2.6 -11.3 -34.3 26

27 Capital consumption adjustment 50.2 57.7 69.0 73.8 79.7 63.6 63.4 109.4 85.6 51.8 27

28 Domestic nonfinancial 57.6 63.0 65.3 67.5 68.9 51.8 47.0 87.5 71.5 49.7 28

29 Domestic financial -7.5 -5.4 3.7 6.3 10.8 11.7 16.4 21.9 14.1 2.0 29

30 Net interest and miscellaneous payments 358.3 371.1 407.5 479.3 481.4 539.3 544.4 506.4 504.1 461.6 30

31 Taxes on production and imports 557.9 580.8 611.6 639.5 673.6 708.6 727.7 762.8 806.8 863.4 31

32 Less: Subsidies 34.8 35.2 33.8 36.4 45.2 45.8 58.7 41.4 49.1 46.4 32

33 Business current transfer payments (net) 45.8 53.8 51.3 65.2 69.0 87.0 101.3 82.4 76.1 81.7 33

34 Current surplus of government enterprises 13.1 14.4 14.1 13.3 14.1 9.1 4.0 6.3 7.0 1.2 34

 Memo:

 Calculation of Gross Domestic Product

 from National Income: (2)

35 National Income, from line 1 above 6522.3 6931.7 7406.0 7875.6 8358.0 8938.9 9185.2 9408.5 9840.2 10534.1 35

 Plus:

36 Private consumption of fixed capital 704.6 743.4 789.7 841.6 907.2 986.8 1051.6 1094.0 1135.9 1200.9 36

37 Government consumption of fixed capital 164.8 169.2 174.1 179.0 187.2 197.5 204.6 210.9 218.1 231.9 37

38 Statistical discrepancy 52.5 25.9 -14.0 -85.3 -71.1 -134.0 -103.4 -22.1 16.7 -22.4 38

 Less:

39 Net U.S. income receipts from rest of the world 29.7 31.7 23.4 17.3 27.8 37.7 51.9 49.1 68.7 91.2 39

 Equals:

40 Gross Domestic Product 7414.7 7838.5 8332.4 8793.5 9353.5 9951.5 10286.2 10642.3 11142.2 11853.3 40

(1) This table corresponds to NIPA table 1.12 in the Survey of Current Business, Bureau of Economic Analysis (www.bea.gov).

(2) The relationship of National Income to Gross Domestic Product is shown on NIPA table 1.7.5 in the Survey of Current Business, Bureau of Economic Analysis.
6 FFA, 1995-2004, December 6, 2012

F.8 Saving and Investment by Sector (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Gross saving 1219.0 1344.4 1525.7 1654.4 1708.0 1800.1 1695.7 1560.9 1552.7 1738.7 1

 2 Net saving 349.6 431.8 561.9 633.9 613.6 615.8 439.4 256.0 198.6 305.9 2

 3 Net private saving 546.6 557.1 585.7 553.4 473.0 389.3 414.9 562.8 613.8 693.7 3

 4 Domestic business 243.9 272.3 308.2 212.6 260.1 176.3 210.0 280.6 309.2 390.5 4

 5 Nonfinancial corporate business 204.0 240.4 260.6 196.9 207.8 148.5 125.4 171.3 175.1 248.0 5

 6 Financial business 39.9 31.9 47.6 15.7 52.3 27.7 84.5 109.3 134.1 142.5 6

 7 Households and institutions 302.6 284.8 277.5 340.8 212.9 213.1 204.9 282.2 304.7 303.2 7

 8 Net government saving -197.0 -125.3 -23.8 80.5 140.6 226.5 24.6 -306.9 -415.2 -387.8 8

 9 Federal -206.2 -148.2 -60.1 33.6 98.8 185.2 40.5 -252.8 -376.4 -379.5 9

10 State and local 9.2 23.0 36.3 46.9 41.8 41.3 -15.9 -54.1 -38.8 -8.4 10

11 Consumption of fixed capital 869.5 912.5 963.8 1020.5 1094.4 1184.3 1256.2 1305.0 1354.1 1432.8 11

12 Private 704.6 743.4 789.7 841.6 907.2 986.8 1051.6 1094.0 1135.9 1200.9 12

13 Domestic business 586.0 619.2 658.5 702.1 756.8 824.3 876.5 908.5 935.4 978.7 13

14 Nonfinancial corporate business 408.3 435.1 466.9 499.9 539.3 590.1 632.0 654.5 669.0 695.6 14

15 Nonfinancial noncorporate business 105.6 109.4 113.6 119.5 126.3 133.9 140.6 146.6 153.4 162.7 15

16 Financial business 72.1 74.7 78.0 82.7 91.3 100.3 104.0 107.4 113.0 120.5 16

17 Households and institutions 118.7 124.2 131.2 139.5 150.4 162.5 175.1 185.5 200.5 222.2 17

18 Government 164.8 169.2 174.1 179.0 187.2 197.5 204.6 210.9 218.1 231.9 18

19 Federal 81.7 81.9 82.5 82.8 85.0 87.8 88.6 89.2 90.8 94.8 19

20 State and local 83.1 87.2 91.6 96.2 102.1 109.7 116.0 121.8 127.3 137.1 20

 Gross domestic investment, capital account

21 transactions, and net lending, NIPAs 1271.6 1370.3 1511.7 1569.1 1637.0 1666.2 1592.3 1538.9 1569.3 1716.3 21

22 Gross domestic investment 1376.6 1484.4 1641.0 1773.6 1928.9 2076.5 1984.0 1990.4 2085.4 2340.9 22

23 Gross private domestic investment 1144.0 1240.2 1388.7 1510.8 1641.5 1772.2 1661.9 1647.0 1729.7 1968.6 23

24 Domestic business 849.4 912.2 1036.4 1113.4 1209.9 1313.7 1176.2 1125.0 1142.9 1278.2 24

25 Nonfinancial corporate business 625.4 654.4 764.3 814.4 888.2 980.1 860.2 799.2 809.7 895.8 25

26 Nonfinancial noncorporate business 126.7 149.7 158.7 166.8 176.2 187.2 178.8 189.3 197.9 227.3 26

27 Financial business 97.3 108.1 113.4 132.3 145.5 146.4 137.3 136.4 135.4 155.1 27

28 Households and institutions 294.7 328.0 352.3 397.3 431.6 458.5 485.7 522.0 586.7 690.4 28

29 Gross government investment 232.6 244.2 252.4 262.9 287.4 304.3 322.0 343.5 355.8 372.4 29

30 Federal 78.6 80.4 73.4 76.4 81.6 80.1 81.5 90.1 96.2 103.3 30

31 State and local 154.0 163.8 178.9 186.4 205.7 224.3 240.5 253.3 259.6 269.1 31

32 Capital account transactions (net) (2) 0.4 0.2 0.5 0.2 4.5 0.3 -12.9 0.5 2.1 -2.8 32

33 Private 20.6 20.9 28.8 30.6 28.4 27.3 14.7 17.5 1.7 -5.5 33

34 Domestic business 6.5 2.4 6.7 4.1 -1.2 -1.6 -7.8 -3.2 -2.9 1.8 34

35 Nonfinancial corporate business 5.0 2.4 6.7 4.1 -2.6 -1.6 -14.2 -3.2 -2.9 -9.3 35

36 Nonfinancial noncorporate business -0.4 0.0 0.0 0.0 -0.4 0.0 -1.3 0.0 0.0 -5.0 36

37 Financial business 1.9 0.0 0.0 0.0 1.7 0.0 7.7 0.0 0.0 16.2 37

38 Households and institutions 14.1 18.5 22.1 26.5 29.7 28.8 22.5 20.7 4.7 -7.4 38

39 Government -20.2 -20.7 -28.3 -30.4 -24.0 -26.9 -27.7 -17.0 0.4 2.8 39

40 Federal 5.6 7.2 1.1 -2.1 7.2 8.2 13.4 24.2 40.4 38.9 40

41 State and local -25.8 -27.8 -29.4 -28.3 -31.2 -35.2 -41.1 -41.2 -40.0 -36.2 41

42 Net lending (+) or net borrowing (-), NIPAs (3) -105.5 -114.4 -129.8 -204.8 -296.4 -410.7 -378.7 -452.1 -518.2 -621.8 42

43 Private 139.0 65.3 -56.0 -231.7 -360.8 -557.3 -313.6 -29.7 35.0 -90.7 43

44 Domestic business 26.5 2.8 -90.3 -288.2 -262.8 -445.6 -185.3 45.3 121.3 66.8 44

45 Nonfinancial corporate business (3) 34.5 44.6 -57.4 -207.0 -209.7 -373.9 -192.0 7.7 54.0 34.8 45

46 Nonfinancial noncorporate business -20.8 -40.3 -45.1 -47.3 -49.5 -53.3 -36.9 -42.8 -44.5 -59.6 46

47 Financial business 12.9 -1.4 12.2 -33.9 -3.6 -18.3 43.5 80.3 111.7 91.7 47

48 Households and institutions 112.5 62.5 34.3 56.4 -98.0 -111.7 -128.2 -75.0 -86.2 -157.6 48

49 Government -244.5 -179.7 -73.8 27.0 64.4 146.6 -65.1 -422.4 -553.3 -531.1 49

50 Federal -208.7 -153.9 -52.1 42.0 95.0 184.7 34.2 -278.0 -422.2 -426.8 50

51 State and local -35.9 -25.7 -21.7 -15.1 -30.6 -38.1 -99.3 -144.4 -131.1 -104.2 51

52 Statistical discrepancy (line 21 less line 1) 52.5 25.9 -14.0 -85.3 -71.1 -134.0 -103.4 -22.1 16.7 -22.4 52

 Addenda:

53 Disaster losses 2.4 0.0 0.0 0.0 3.5 0.0 19.2 0.0 0.0 29.4 53

54 Private 2.4 0.0 0.0 0.0 3.5 0.0 17.5 0.0 0.0 29.4 54

55 Domestic business 1.2 0.0 0.0 0.0 2.2 0.0 15.5 0.0 0.0 17.4 55

56 Households and institutions 1.2 0.0 0.0 0.0 1.3 0.0 2.0 0.0 0.0 12.0 56

57 Government 0.0 0.0 0.0 0.0 0.0 0.0 1.7 0.0 0.0 0.0 57

58 Federal 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 58

59 State and local 0.0 0.0 0.0 0.0 0.0 0.0 1.7 0.0 0.0 0.0 59

(1) This table is based on NIPA table 5.1 in the Survey of Current Business, Bureau of Economic Analysis (www.bea.gov). It is consistent with the Integrated Macroeconomic Accounts of the

 United States jointly compiled by the Federal Reserve Board and the Bureau of Economic Analysis.

(2) Consists of net capital transfers shown on table F.9 and the acquisition of nonproduced nonfinancial assets (net) shown on table F.6.

(3) Differs from net lending or net borrowing (capital account) in the Integrated Macroeconomic Accounts of the United States by the statistical discrepancy (line 52).
FFA, 1995-2004, December 6, 2012 7

F.9 Net Capital Transfers (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Capital transfers paid, by sector 49.9 51.5 56.2 61.3 74.8 72.2 102.5 81.8 90.6 119.2 1

 2 By private business 2.0 0.0 0.0 0.0 1.8 0.0 11.6 0.0 0.0 17.3 2

 3 Financial corporations 2.0 0.0 0.0 0.0 1.8 0.0 11.6 0.0 0.0 17.3 3

 4 Disaster-related insurance benefits 2.0 0.0 0.0 0.0 1.8 0.0 11.6 0.0 0.0 17.3 4

 5 Other 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Nonfinancial corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 By government 27.9 28.4 29.2 28.9 36.3 36.6 42.0 49.2 62.6 68.0 8

 9 Federal 27.9 28.4 29.2 28.9 36.3 36.6 42.0 49.2 62.6 63.5 9

10 Investment grants to state and local govts. 27.3 28.2 28.8 28.7 31.9 36.2 41.7 45.0 45.5 46.3 10

11 Disaster-related insurance benefits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

12 Financial stabilization payments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

13 Other capital transfers paid to business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 13

14 Other capital transfers paid to persons 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3.6 14.8 16.1 14

15 Capital transfers paid to the rest of the world (net) 0.6 0.2 0.4 0.2 4.5 0.4 0.3 0.6 2.2 0.9 15

16 State and local 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4.5 16

17 Disaster-related insurance benefits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4.5 17

18 By persons 20.0 23.1 27.0 32.4 36.7 35.6 35.7 32.6 28.0 30.3 18

19 Estate and gift taxes, federal 14.9 17.5 20.6 25.2 28.8 28.1 28.0 25.3 22.0 24.6 19

20 Estate and gift taxes, state and local 5.1 5.6 6.4 7.2 7.9 7.5 7.7 7.3 6.0 5.6 20

21 By the rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 13.2 0.0 0.0 3.7 21

22 Disaster-related insurance benefits 0.0 0.0 0.0 0.0 0.0 0.0 13.2 0.0 0.0 3.7 22

23 Other 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

24 Capital transfers received, by sector 49.9 51.5 56.2 61.3 74.8 72.2 102.5 81.8 90.6 119.2 24

25 By private business 0.8 0.0 0.0 0.0 1.3 0.0 17.7 0.0 0.1 12.8 25

26 Financial corporations 0.0 0.0 0.0 0.0 0.0 0.0 3.9 0.0 0.0 1.1 26

27 Disaster-related insurance benefits 0.0 0.0 0.0 0.0 0.0 0.0 3.9 0.0 0.0 1.1 27

28 Other 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

29 Nonfinancial corporations 0.4 0.0 0.0 0.0 0.9 0.0 12.5 0.0 0.1 6.7 29

30 Disaster-related insurance benefits 0.4 0.0 0.0 0.0 0.9 0.0 12.5 0.0 0.0 6.5 30

31 Other 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 31

32 Noncorporate business 0.4 0.0 0.0 0.0 0.4 0.0 1.3 0.0 0.0 5.0 32

33 Disaster-related insurance benefits 0.4 0.0 0.0 0.0 0.4 0.0 1.3 0.0 0.0 5.0 33

34 Other 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 34

35 By government 47.3 51.3 55.8 61.0 68.6 71.9 79.2 77.7 73.4 76.6 35

36 Federal 14.9 17.5 20.6 25.2 28.8 28.1 28.0 25.3 22.0 24.6 36

37 Estate and gift taxes paid by persons 14.9 17.5 20.6 25.2 28.8 28.1 28.0 25.3 22.0 24.6 37

38 State and local 32.4 33.8 35.2 35.9 39.8 43.8 51.2 52.4 51.5 52.0 38

39 Disaster-related insurance benefits 0.0 0.0 0.0 0.0 0.0 0.0 1.7 0.0 0.0 0.0 39

40 Estate and gift taxes paid by persons 5.1 5.6 6.4 7.2 7.9 7.5 7.7 7.3 6.0 5.6 40

41 Investment grants paid by federal government 27.3 28.2 28.8 28.7 31.9 36.2 41.7 45.0 45.5 46.3 41

42 Other 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 42

43 By persons 1.1 0.0 0.0 0.0 0.4 0.0 5.4 3.6 14.8 28.9 43

44 Disaster-related insurance benefits 1.1 0.0 0.0 0.0 0.4 0.0 5.4 0.0 0.0 12.8 44

45 Other 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3.6 14.8 16.1 45

46 By the rest of the world 0.6 0.2 0.4 0.2 4.5 0.4 0.3 0.6 2.2 0.9 46

47 Capital transfers paid by U.S. government 0.6 0.2 0.4 0.2 4.5 0.4 0.3 0.6 2.2 0.9 47

48 Other 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 48

 Addenda: Net capital transfers paid by sector

49 By private business (lines 2-25) 1.1 0.0 0.0 0.0 0.4 0.0 -6.1 -0.0 -0.1 4.5 49

50 Financial corporations (lines 3-26) 1.9 0.0 0.0 0.0 1.7 0.0 7.7 0.0 0.0 16.2 50

51 Property-casualty insurance companies (line 4) 2.0 0.0 0.0 0.0 1.8 0.0 11.6 0.0 0.0 17.3 51

52 U.S.-chartered depository institutions -0.0 0.0 0.0 0.0 -0.0 0.0 -3.9 0.0 0.0 -1.1 52

53 Financial stabilization payments (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 53

54 Other (lines 5-27) -0.0 0.0 0.0 0.0 -0.0 0.0 -3.9 0.0 0.0 -1.1 54

55 Government-sponsored enterprises (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 55

56 Holding companies (GMAC) (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 56

57 Funding corporations (AIG) (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 57

58 Nonfinancial corporations (lines 6-29) -0.4 0.0 0.0 0.0 -0.9 0.0 -12.5 -0.0 -0.1 -6.7 58

59 Noncorporate business (lines 7-32) -0.4 0.0 0.0 0.0 -0.4 0.0 -1.3 0.0 0.0 -5.0 59

60 By government (lines 8-35) -19.4 -22.9 -26.6 -32.1 -32.2 -35.3 -37.1 -28.5 -10.8 -8.6 60

61 Federal (lines 9-36) 13.0 10.9 8.7 3.7 7.6 8.5 14.1 23.9 40.6 38.9 61

62 State and local (lines 16-38) -32.4 -33.8 -35.2 -35.9 -39.8 -43.8 -51.2 -52.4 -51.5 -47.5 62

63 By persons (lines 18-43) 18.9 23.1 27.0 32.4 36.3 35.6 30.3 29.1 13.1 1.4 63

64 By the rest of the world (lines 21-46) -0.6 -0.2 -0.4 -0.2 -4.5 -0.4 12.9 -0.6 -2.2 2.8 64

(1) This table is based on NIPA table 5.10 in the Survey of Current Business, Bureau of Economic Analysis (www.bea.gov).

(2) Sum of lines 53, 55, 56, and 57 equals the negative of line 12. Series treated as capital losses rather than as capital transfers in the Flow of Funds Accounts.
8 FFA, 1995-2004, December 6, 2012

F.10 Derivation of Measures of Personal Saving (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Net acquisition of financial assets 498.1 573.2 573.6 781.6 599.3 375.8 631.2 612.3 937.2 1384.6 1

 2 Foreign deposits 4.6 12.4 6.5 0.5 2.9 7.6 0.4 1.3 2.2 5.4 2

 3 Checkable deposits and currency -36.3 -22.5 -18.6 30.9 -14.6 -95.3 75.7 -13.2 -24.9 48.7 3

 4 Time and savings deposits 140.1 145.6 154.1 142.7 148.5 347.9 288.9 325.9 334.5 450.0 4

 5 Money market fund shares 101.2 30.7 74.1 109.7 111.0 171.8 173.4 -27.0 -109.2 -53.2 5

 6 Securities -12.8 101.3 -72.2 -62.3 -34.2 -625.8 -474.2 -82.9 224.3 111.0 6

 7 Open market paper 2.0 4.1 1.3 3.0 4.7 12.4 -9.2 -5.9 -4.9 6.4 7

 8 U.S. savings bonds 5.1 2.0 -0.5 0.1 -0.2 -1.7 5.6 4.5 8.9 0.6 8

 9 Treasury bills and other Treasury securities -18.9 -1.8 -138.9 -64.8 1.6 -205.8 -93.5 -145.6 12.3 1.3 9

10 Agency- and GSE-backed securities 27.6 100.9 53.2 69.2 83.8 34.1 -122.8 -160.5 140.1 63.5 10

11 Municipal securities -59.9 -40.0 22.1 0.7 29.3 4.5 50.6 97.5 24.4 92.5 11

12 Corporate and foreign bonds 53.5 36.5 19.8 30.4 -107.3 88.6 44.4 209.3 -122.7 45.1 12

13 Corporate equities (2) -72.2 -157.0 -218.7 -285.0 -153.2 -637.5 -488.2 -161.8 -98.4 -268.2 13

14 Mutual fund shares 50.0 156.7 189.6 184.1 107.1 79.5 138.9 79.6 264.5 169.6 14

15 Life insurance reserves 45.8 44.5 59.3 48.0 50.8 50.2 77.2 60.1 66.8 33.1 15

16 Pension fund reserves 176.2 158.3 220.8 286.7 147.8 263.0 290.5 274.7 297.3 357.9 16

17 Miscellaneous and other assets 79.2 103.0 149.4 225.4 187.2 256.5 199.3 73.5 146.4 431.7 17

18 Gross investment in nonfinancial assets 1002.5 1093.4 1161.8 1281.0 1408.6 1517.3 1573.3 1660.9 1762.9 1944.8 18

19 Residential fixed investment 300.0 331.3 345.6 382.5 421.7 444.3 467.6 504.4 572.0 674.4 19

20 Nonresidential fixed investment 129.1 137.4 158.9 182.4 200.0 224.8 230.0 239.2 241.8 263.6 20

21 Consumer durables 586.1 620.4 655.8 717.7 792.6 853.5 885.4 927.0 956.6 1005.0 21

22 Nonproduced nonfinancial assets -4.8 -4.6 -4.8 -5.9 -6.6 -6.8 -7.8 -8.3 -8.5 -8.7 22

23 Inventories -7.9 8.9 6.4 4.2 0.8 1.6 -1.9 -1.5 0.9 10.5 23

24 Consumption of fixed capital 714.1 743.2 772.5 807.0 850.5 907.7 959.1 1003.0 1051.8 1121.5 24

25 Residential fixed investment 119.3 125.2 132.1 139.5 149.0 159.8 171.1 180.0 193.7 214.6 25

26 Nonresidential fixed investment 104.9 108.4 112.7 118.6 124.5 130.6 135.1 139.1 144.1 151.6 26

27 Consumer durables 489.8 509.6 527.7 548.9 576.9 617.3 652.9 683.9 714.0 755.3 27

28 Net investment in nonfinancial assets (3) 288.5 350.2 389.3 474.0 558.1 609.6 614.1 657.9 711.0 823.3 28

29 Residential fixed investment 180.7 206.1 213.4 243.0 272.7 284.5 296.5 324.4 378.3 459.8 29

30 Nonresidential fixed investment 24.2 29.0 46.2 63.7 75.5 94.2 94.8 100.1 97.7 112.0 30

31 Consumer durables 96.3 110.9 128.1 168.9 215.7 236.1 232.5 243.2 242.6 249.7 31

32 Nonproduced nonfinancial assets -4.8 -4.6 -4.8 -5.9 -6.6 -6.8 -7.8 -8.3 -8.5 -8.7 32

33 Inventories -7.9 8.9 6.4 4.2 0.8 1.6 -1.9 -1.5 0.9 10.5 33

34 Net increase in liabilities 404.4 483.6 545.7 749.4 867.0 918.7 841.9 980.7 1103.0 1506.4 34

35 Home mortgages 167.6 222.1 234.3 354.8 425.3 423.9 549.7 754.2 812.0 1016.7 35

36 Other mortgages 14.5 27.3 35.7 103.9 94.5 106.7 89.6 88.2 130.1 142.8 36

37 Consumer credit 147.0 105.7 70.3 97.1 112.4 176.5 150.6 105.2 105.9 117.2 37

38 Policy loans 10.5 4.5 3.2 0.1 -5.1 2.8 2.2 1.0 -0.7 1.6 38

39 Security credit 3.5 15.8 36.8 21.6 75.2 7.2 -38.8 -48.2 34.3 81.5 39

40 Other liabilities 61.3 108.2 165.5 171.9 164.7 201.6 88.6 80.3 21.5 146.6 40

41 Net capital transfers paid (4) 18.6 23.1 27.0 32.4 35.9 35.6 29.0 29.1 13.1 -3.7 41

42 Personal saving, FOF concept (FOF) 400.7 462.9 444.1 538.6 326.3 102.3 432.4 318.5 558.3 697.8 42

43 - Net investment in consumer durables 96.3 110.9 128.1 168.9 215.7 236.1 232.5 243.2 242.6 249.7 43

44 - Government insurance and pension fund reserves (5) 3.6 3.4 3.4 4.4 3.8 1.8 3.3 -1.7 -0.6 0.0 44

45 = Personal saving, NIPA concept (FOF) (6) 300.8 348.6 312.6 365.3 106.8 -135.6 196.7 77.1 316.3 448.1 45

46 Personal saving, NIPA concept (NIPA) 286.3 281.1 280.4 341.5 207.8 213.1 204.9 282.2 289.7 318.2 46

47 Difference 14.6 67.5 32.2 23.9 -101.0 -348.7 -8.2 -205.1 26.7 129.8 47

 Memo:

48 Disposable personal income 5457.0 5759.6 6074.6 6498.9 6803.3 7327.2 7648.5 8009.7 8377.8 8889.4 48

 Personal saving as a percentage of disposable personal income:

49 FOF concept (FOF data) (line 42) 7.3 8.0 7.3 8.3 4.8 1.4 5.7 4.0 6.7 7.8 49

50 NIPA concept (FOF data) (line 45) 5.5 6.1 5.1 5.6 1.6 -1.9 2.6 1.0 3.8 5.0 50

51 NIPA concept (NIPA data) (line 46) 5.2 4.9 4.6 5.3 3.1 2.9 2.7 3.5 3.5 3.6 51

52 Difference (line 47) 0.3 1.2 0.5 0.4 -1.5 -4.8 -0.1 -2.6 0.3 1.5 52

(1) Consolidated statement for households and nonprofit organizations and nonfinancial noncorporate business.

(2) Directly held and those in closed-end and exchange-traded funds. Other equities are included in mutual fund shares (line 14) and life insurance and pension reserves (lines 15 and 16)).

(3) Line 18 less line 24.

(4) Table F.9, line 59 plus line 63.

(5) Railroad Retirement Board, the National Railroad Retirement Investment Trust, and federal government life insurance reserves.

(6) Line 45 and 46 are conceptually equivalent but measure saving using different data. Line 45 is net acquisition of financial assets net of government insurance and pension fund reserves (line 1 less line 44) plus

 net investment in nonfinancial assets net of consumer durables (line 28 less line 43) less net increase in liabilities (line 34) plus net capital transfers paid (line 41). Line 46 is disposable personal income (line 48) less

 personal outlays (table F.100, line 4).
FFA, 1995-2004, December 6, 2012 9

F.100 Households and Nonprofit Organizations (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Personal income 6200.9 6591.6 7000.7 7525.4 7910.8 8559.4 8883.3 9060.1 9378.1 9937.2 1

 2 - Personal current taxes 743.9 832.0 926.2 1026.4 1107.5 1232.3 1234.8 1050.4 1000.3 1047.8 2

 3 = Disposable personal income 5457.0 5759.6 6074.6 6498.9 6803.3 7327.2 7648.5 8009.7 8377.8 8889.4 3

 4 - Personal outlays 5170.8 5478.5 5794.2 6157.5 6595.5 7114.1 7443.5 7727.5 8088.1 8571.2 4

 5 = Personal saving, NIPA (2) 286.3 281.1 280.4 341.5 207.8 213.1 204.9 282.2 289.7 318.2 5

 6 + Government insurance and pension reserves (3) 3.6 3.4 3.4 4.4 3.8 1.8 3.3 -1.7 -0.6 0.0 6

 7 + Net investment in consumer durables 96.3 110.9 128.1 168.9 215.7 236.1 232.5 243.2 242.6 249.7 7

 8 + Consumption of fixed capital 608.8 634.0 659.2 688.9 728.3 781.3 829.9 871.9 917.7 981.2 8

 9 - Net capital transfers paid (4) 18.9 23.1 27.0 32.4 36.3 35.6 30.3 29.1 13.1 1.4 9

10 = Gross saving less net capital transfers paid 976.0 1006.4 1044.2 1171.2 1119.3 1196.7 1240.2 1366.5 1436.2 1547.8 10

11 Gross investment 990.6 1073.8 1076.4 1195.1 1018.4 848.0 1232.0 1161.4 1462.9 1677.7 11

12 Capital expenditures 876.0 943.8 1003.3 1109.2 1217.7 1305.2 1363.2 1440.7 1534.9 1686.7 12

13 Residential 251.5 282.2 293.6 331.6 362.6 382.2 406.7 439.3 498.9 594.4 13

14 Consumer durable goods 586.1 620.4 655.8 717.7 792.6 853.5 885.4 927.0 956.6 1005.0 14

15 Nonprofit nonresidential 43.2 45.8 58.7 65.7 69.0 76.3 79.0 82.6 87.8 95.9 15

16 Nonproduced nonfinancial assets -4.8 -4.6 -4.8 -5.9 -6.6 -6.8 -7.8 -8.3 -8.5 -8.7 16

17 Net lending (+) or net borrowing (-) 114.6 130.0 73.1 85.9 -199.3 -457.2 -131.2 -279.2 -72.0 -9.0 17

18 Net acquisition of financial assets 445.8 479.4 424.1 529.6 356.6 130.0 493.0 503.8 960.9 1141.8 18

19 Foreign deposits 4.6 12.4 6.5 0.5 2.9 7.6 0.4 1.3 2.2 5.4 19

20 Checkable deposits and currency -49.8 -41.7 -40.9 24.8 -19.7 -103.7 74.9 -15.9 -31.0 -58.2 20

21 Time and savings deposits 135.8 142.0 143.4 102.0 95.4 279.8 281.8 311.5 289.8 463.2 21

22 Money market fund shares 99.3 28.5 70.4 100.0 102.8 163.1 163.8 -29.4 -111.5 -56.1 22

23 Credit market instruments -3.6 88.7 -54.2 28.9 20.5 -67.4 -122.7 7.5 61.4 215.8 23

24 Open market paper 2.0 4.1 1.3 3.0 4.7 12.4 -9.2 -5.9 -4.9 6.4 24

25 Treasury securities -19.1 -4.8 -143.1 -70.4 2.2 -210.5 -90.6 -141.1 19.2 -3.4 25

26 Savings bonds 5.1 2.0 -0.5 0.1 -0.2 -1.7 5.6 4.5 8.9 0.6 26

27 Other -24.2 -6.8 -142.5 -70.5 2.4 -208.8 -96.1 -145.6 10.2 -4.0 27

28 Agency- and GSE-backed securities 27.6 100.9 53.2 69.2 83.8 34.1 -122.8 -160.5 140.1 63.5 28

29 Municipal securities -60.5 -40.5 21.5 1.1 29.4 4.8 49.5 97.6 25.1 90.9 29

30 Corporate and foreign bonds 53.5 36.5 19.8 30.4 -107.3 88.6 44.4 209.3 -122.7 45.1 30

31 Other loans and advances (5) 0.1 -0.1 0.1 -0.0 0.4 1.3 0.7 0.2 0.3 2.8 31

32 Mortgages -7.2 -7.5 -7.1 -4.3 7.2 1.9 5.3 7.9 4.3 10.3 32

33 Corporate equities (6) -72.2 -157.0 -218.7 -285.0 -153.2 -637.5 -488.2 -161.8 -98.4 -268.2 33

34 Mutual fund shares 50.0 156.7 189.6 184.1 107.1 79.5 138.9 79.6 264.5 169.6 34

35 Security credit 18.6 35.3 52.6 61.2 47.2 88.6 41.9 -41.6 62.7 103.0 35

36 Life insurance reserves 45.8 44.5 59.3 48.0 50.8 50.2 77.2 60.1 66.8 33.1 36

37 Pension fund reserves 176.2 158.3 220.8 286.7 147.8 263.0 290.5 274.7 297.3 357.9 37

38 Equity in noncorporate business 23.4 1.2 -17.3 -30.8 -56.5 0.7 15.4 -29.2 100.7 123.8 38

39 Miscellaneous assets 17.6 10.6 12.7 9.2 11.4 6.1 19.0 47.1 56.4 52.5 39

40 Net increase in liabilities 331.2 349.4 351.0 443.7 555.9 587.2 624.2 783.1 1032.9 1150.8 40

41 Credit market instruments 319.0 324.8 305.0 414.8 474.5 576.0 665.3 811.2 992.8 1051.3 41

42 Home mortgages (7) 153.6 205.1 215.9 301.1 379.2 384.4 506.9 704.7 871.7 934.0 42

43 Consumer credit 147.0 105.7 70.3 97.1 112.4 176.5 150.6 105.2 105.9 117.2 43

44 Municipal securities 0.2 6.1 7.1 11.8 10.4 5.8 13.8 12.6 13.8 14.5 44

45 Depository institution loans n.e.c. (8) 18.0 -10.1 8.0 -4.7 -24.9 -3.6 -15.7 -23.6 -3.4 -19.6 45

46 Other loans and advances 0.7 13.9 0.7 -0.4 -5.1 1.3 0.9 0.2 -1.5 0.3 46

47 Commercial mortgages -0.6 4.1 3.1 9.9 2.5 11.6 8.8 12.2 6.3 5.0 47

48 Security credit 3.5 15.8 36.8 21.6 75.2 7.2 -38.8 -48.2 34.3 81.5 48

49 Trade payables 7.9 8.0 8.9 8.7 4.1 3.8 -1.9 19.1 4.8 16.5 49

 Deferred and unpaid

50 life insurance premiums 0.7 0.8 0.3 -1.4 2.1 0.1 -0.4 0.9 0.9 1.6 50

51 Discrepancy -14.6 -67.5 -32.2 -23.9 101.0 348.7 8.2 205.1 -26.7 -129.8 51

(1) Sector includes domestic hedge funds, private equity funds, and personal trusts. Supplementary tables (tables F.100.a and L.100.a) show estimates of annual flows and year-end

 outstandings of nonprofit organizations.

(2) See table F.10 for derivation of alternative measures of personal saving.

(3) Railroad Retirement Board, the National Railroad Retirement Investment Trust, and federal government life insurance reserves.

(4) Table F.9, line 63.

(5) Syndicated loans to nonfinancial corporate business by nonprofits and domestic hedge funds.

(6) Directly held and those in closed-end and exchange-traded funds. Other equities are included in mutual fund shares (line 34) and life insurance and pension reserves (lines 36 and 37).

(7) Includes loans made under home equity lines of credit and home equity loans secured by junior liens, shown on table F.218, line 23.

(8) Includes loans extended by the Federal Reserve to financial institutions such as domestic hedge funds through the Term Asset-Backed Securities Loan Facility (TALF), shown on table F.108, line 21.
10 FFA, 1995-2004, December 6, 2012

F.101 Nonfinancial Business (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Income before taxes 1036.1 1153.4 1243.7 1212.2 1279.5 1314.2 1254.2 1295.3 1415.2 1754.7 1

 2 Gross saving less net capital transfers paid 717.9 784.0 840.6 813.4 868.4 863.3 900.5 955.2 976.8 1092.6 2

 3 Gross investment 766.4 811.2 852.9 870.9 969.6 1042.7 1032.7 944.4 985.2 1168.1 3

 4 Capital expenditures 754.8 802.1 918.3 973.8 1060.9 1161.9 1033.2 980.8 1005.0 1114.9 4

 5 Fixed investment 718.2 768.9 840.7 906.0 1001.8 1108.9 1073.2 971.9 991.4 1052.7 5

 6 Residential 48.6 47.4 44.2 42.9 61.3 62.9 61.6 65.6 78.9 80.7 6

 7 Nonresidential 669.6 721.5 796.5 863.1 940.4 1046.0 1011.5 906.4 912.5 972.0 7

 8 Change in inventories 31.2 30.8 71.0 63.7 60.8 54.5 -38.3 12.0 16.4 64.9 8

 9 Nonproduced nonfinancial assets 5.4 2.4 6.7 4.1 -1.7 -1.6 -1.7 -3.2 -2.9 -2.7 9

10 Net lending (+) or net borrowing (-) 11.7 9.1 -65.5 -102.9 -91.3 -119.2 -0.5 -36.3 -19.8 53.2 10

11 Net acquisition of financial assets 500.9 544.2 395.8 791.3 1151.1 1451.6 333.8 219.8 168.0 1150.9 11

12 Foreign deposits 1.7 10.8 -5.1 7.4 0.9 -7.4 -8.5 5.1 17.6 15.6 12

13 Checkable deposits and currency 18.1 1.5 11.0 -9.8 34.7 43.5 -53.0 -9.6 50.1 109.9 13

14 Time and savings deposits 7.6 33.5 45.4 69.0 97.3 103.5 15.9 24.6 116.1 24.5 14

15 Money market fund shares 24.8 36.9 27.9 52.6 43.2 25.8 109.7 8.0 -28.1 13.2 15

16 Security RPs 0.3 1.5 0.7 -0.4 1.6 -1.6 -0.2 2.2 -0.2 0.4 16

17 Credit market instruments -4.9 -6.2 -4.6 -4.0 -27.4 28.5 2.4 25.2 -1.2 42.7 17

18 Commercial paper 1.3 11.4 4.6 3.3 8.2 10.2 2.4 4.6 10.9 19.3 18

19 Treasury securities 11.6 -5.1 -16.6 2.5 -5.0 1.7 1.4 14.5 4.4 5.6 19

20 Agency- and GSE-backed securities 3.5 5.1 -20.5 2.6 1.8 3.0 2.1 -0.7 -5.7 0.1 20

21 Municipal securities -19.3 -5.4 -3.1 -2.0 -0.9 6.7 -1.5 2.7 2.6 -1.9 21

22 Mortgages -0.5 -4.9 24.3 -5.4 -28.2 1.7 6.5 2.3 2.3 19.4 22

23 Consumer credit -1.6 -7.3 6.7 -5.1 -3.2 5.4 -8.4 1.7 -15.7 0.1 23

24 Mutual fund shares 4.6 9.1 1.7 14.6 9.8 0.3 4.3 -0.2 5.8 -1.3 24

25 Trade receivables 93.3 117.6 123.1 115.5 248.6 351.2 -119.5 -79.5 -42.9 155.5 25

26 Miscellaneous assets 355.4 339.5 195.7 546.5 742.3 907.7 382.7 244.0 50.9 790.5 26

27 Net increase in liabilities 489.2 535.1 461.3 894.2 1242.4 1570.8 334.3 256.1 187.8 1097.7 27

28 Credit market instruments 250.7 256.5 413.3 569.1 571.6 566.9 393.0 209.4 160.1 504.5 28

29 Commercial paper 18.1 -0.9 13.7 24.4 37.4 48.1 -83.1 -57.9 -37.3 15.3 29

30 Municipal securities 3.1 3.1 4.2 5.8 5.1 1.4 3.5 2.9 3.3 20.1 30

31 Corporate bonds 78.9 111.9 160.4 217.6 210.7 167.9 346.1 136.8 155.4 87.7 31

32 Depository institution loans n.e.c. 88.7 73.1 102.1 106.2 98.3 105.4 -61.6 -79.7 -81.0 36.9 32

33 Other loans and advances 33.9 18.6 54.3 65.9 34.2 85.3 -1.5 34.5 6.7 52.3 33

34 Mortgages 28.0 50.8 78.6 149.3 186.0 158.9 189.5 172.8 112.9 292.2 34

35 Corporate equities -58.3 -47.3 -77.4 -215.5 -110.4 -118.2 -48.1 -16.2 -39.6 -122.7 35

36 Trade payables 94.9 81.5 97.2 88.0 213.0 354.1 -108.4 45.1 -80.9 121.4 36

37 Taxes payable 0.5 11.9 13.6 9.0 15.9 18.6 7.1 13.4 -12.2 15.1 37

38 Miscellaneous liabilities 177.5 231.6 33.0 473.1 609.9 748.5 72.0 34.3 56.4 451.4 38

39 Proprietors’ net investment 23.9 0.9 -18.4 -29.4 -57.7 0.9 18.7 -29.9 104.1 128.0 39

40 Discrepancy -48.5 -27.2 -12.2 -57.4 -101.2 -179.3 -132.2 10.8 -8.4 -75.5 40

(1) Combined statement for nonfinancial corporate business and nonfinancial noncorporate business.
FFA, 1995-2004, December 6, 2012 11

F.102 Nonfinancial Corporate Business

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Profits before tax (book) 431.2 471.3 506.8 460.5 468.6 432.5 315.1 342.3 425.9 662.1 1

 2 - Taxes on corporate income 140.3 152.9 161.4 158.7 171.4 170.2 111.2 97.1 132.9 187.0 2

 3 - Net dividends 178.0 197.5 215.9 241.0 224.7 251.3 245.4 254.8 293.4 364.5 3

 4 + Capital consumption allowance (1) 464.5 496.8 531.0 565.7 606.6 640.3 677.3 740.5 739.5 743.9 4

 5 = U.S. internal funds, book 577.4 617.7 660.5 626.5 679.1 651.2 635.7 730.9 739.1 854.4 5

 6 + Foreign earnings retained abroad 52.7 54.1 52.8 53.0 69.8 102.5 113.7 95.8 114.8 120.4 6

 7 + Inventory valuation adjustment (IVA) -18.3 3.1 14.1 15.7 -4.0 -16.8 8.0 -2.6 -11.3 -34.3 7

 8 - Net capital transfers paid (2) -0.4 0.0 0.0 0.0 -0.9 0.0 -12.5 -0.0 -0.1 -6.7 8

 9 = Total internal funds + IVA 612.3 674.8 727.3 695.3 745.8 737.0 770.0 824.2 842.7 947.2 9

10 Gross investment 660.8 702.1 739.6 752.8 847.1 916.3 902.2 813.4 851.0 1022.8 10

11 Capital expenditures 628.2 652.5 759.8 802.0 870.0 949.8 823.2 760.6 777.0 856.8 11

12 Fixed investment (3) 583.8 628.2 688.5 738.5 811.7 898.4 861.3 750.3 764.3 805.1 12

13 Inventory change + IVA 39.1 21.9 64.6 59.5 60.1 53.0 -36.4 13.5 15.5 54.4 13

14 Nonproduced nonfinancial assets 5.4 2.4 6.7 4.1 -1.7 -1.6 -1.7 -3.2 -2.9 -2.7 14

15 Net lending (+) or net borrowing (-) 32.6 49.6 -20.2 -49.3 -23.0 -33.5 79.0 52.8 74.1 166.0 15

16 Net acquisition of financial assets 424.7 449.5 264.8 568.7 966.1 1204.9 176.9 141.2 87.6 780.1 16

17 Foreign deposits 1.7 10.8 -5.1 7.4 0.9 -7.4 -8.5 5.1 17.6 15.6 17

18 Checkable deposits and currency 4.6 -17.6 -11.3 -15.9 29.6 35.0 -53.8 -12.3 44.0 3.0 18

19 Time and savings deposits 3.3 30.0 34.7 28.2 44.3 35.5 8.8 10.2 71.5 37.7 19

20 Money market fund shares 22.9 34.7 24.2 42.9 35.1 17.1 100.2 5.7 -30.4 10.3 20

21 Security RPs 0.3 1.5 0.7 -0.4 1.6 -1.6 -0.2 2.2 -0.2 0.4 21

22 Credit market instruments -8.8 -10.2 -7.2 -17.0 -24.2 26.5 -4.7 25.9 -2.7 31.2 22

23 Commercial paper 1.3 11.4 4.6 3.3 8.2 10.2 2.4 4.6 10.9 19.3 23

24 Treasury securities 6.3 -10.0 -20.2 -3.2 -4.2 -1.3 -1.3 14.5 2.3 0.3 24

25 Agency- and GSE-backed securities 3.5 5.1 -20.5 2.6 1.8 3.0 2.1 -0.7 -5.7 0.1 25

26 Municipal securities -19.9 -5.8 -3.6 -1.6 -0.7 6.9 -2.6 2.8 3.3 -3.6 26

27 Mortgages 1.6 -3.6 25.9 -13.0 -26.0 2.3 3.1 2.9 2.2 14.8 27

28 Consumer credit -1.6 -7.3 6.7 -5.1 -3.2 5.4 -8.4 1.7 -15.7 0.1 28

29 Mutual fund shares 4.6 9.1 1.7 14.6 9.8 0.3 4.3 -0.2 5.8 -1.3 29

30 Trade receivables 78.0 88.1 88.0 87.3 209.2 281.6 -121.3 -98.4 -17.7 128.8 30

31 Miscellaneous assets 318.0 303.2 139.1 421.5 659.9 817.8 252.2 203.0 -0.2 554.4 31

32 U.S. direct investment abroad (4) 90.3 76.8 84.3 129.2 200.7 138.0 123.8 131.1 125.3 272.4 32

33 Insurance receivables 8.5 2.8 2.1 2.3 1.4 0.0 10.8 18.1 19.1 19.7 33

34 Equity in GSEs 0.0 -0.1 0.0 0.0 0.0 0.0 0.1 0.0 0.1 0.1 34

35 Investment in finance co. subs. 5.9 0.6 4.9 -10.0 10.6 65.2 -17.8 6.9 2.6 2.6 35

36 Other 213.4 223.1 47.8 300.1 447.2 614.6 135.4 46.9 -147.2 259.7 36

37 Net increase in liabilities 392.1 399.9 285.0 617.9 989.1 1238.4 98.0 88.3 13.5 614.1 37

38 Net funds raised in markets 147.0 138.7 233.9 174.5 267.5 256.3 181.4 41.3 46.6 127.1 38

39 Net new equity issues -58.3 -47.3 -77.4 -215.5 -110.4 -118.2 -48.1 -16.2 -39.6 -122.7 39

40 Credit market instruments 205.3 186.0 311.3 390.1 377.8 374.5 229.6 57.5 86.2 249.8 40

41 Commercial paper 18.1 -0.9 13.7 24.4 37.4 48.1 -83.1 -57.9 -37.3 15.3 41

42 Municipal securities (5) 3.1 3.1 4.2 5.8 5.1 1.4 3.5 2.9 3.3 20.1 42

43 Corporate bonds (4) 78.9 111.9 160.4 217.6 210.7 167.9 346.1 136.8 155.4 87.7 43

44 Depository institution loans n.e.c. 77.2 43.9 55.4 80.7 48.7 55.0 -105.1 -103.4 -91.4 4.0 44

45 Other loans and advances (6) 28.9 17.6 50.1 60.1 28.1 77.8 2.1 31.9 7.3 51.1 45

46 Mortgages -1.0 10.6 27.6 1.5 47.9 24.3 66.0 47.3 48.8 71.7 46

47 Trade payables 81.2 49.7 65.2 57.7 178.5 312.6 -103.6 19.8 -54.7 97.7 47

48 Taxes payable -0.0 9.6 9.3 4.8 7.0 7.0 3.1 11.9 -11.7 6.8 48

49 Miscellaneous liabilities 163.9 201.9 -23.5 380.9 536.1 662.5 17.1 15.4 33.3 382.5 49

50 Foreign direct investment in U.S. 54.9 71.5 99.0 144.9 183.6 249.4 141.5 74.5 40.2 95.7 50

51 Pension fund contributions payable 5.4 5.4 8.4 12.9 -18.4 -19.1 -24.6 1.5 -0.2 -3.1 51

52 Other 103.6 125.0 -130.9 223.1 370.9 432.2 -99.9 -60.7 -6.8 290.0 52

53 Discrepancy -48.5 -27.2 -12.2 -57.4 -101.2 -179.3 -132.2 10.8 -8.4 -75.5 53

 Memo:

54 Financing gap (7) 69.1 31.8 85.2 159.7 194.9 315.4 179.5 32.3 49.2 36.6 54

(1) Consumption of fixed capital plus capital consumption adjustment.

(2) Table F.9, line 58.

(3) Nonresidential fixed investment plus residential fixed investment, shown in table F.6, lines 10 and 15 respectively.

(4) Through 1992:Q4, corporate bonds include net issues by Netherlands Antillean financial subsidiaries, and U.S. direct investment abroad excludes net inflows from those bond issues.

(5) Industrial revenue bonds. Issued by state and local governments to finance private investment and secured in interest and principal by the industrial user of the funds.

(6) Loans from rest of the world, U.S. government, and nonbank financial institutions. Detail can be found on table F.216.

(7) Capital expenditures (line 11) less the sum of U.S. internal funds (line 5) and inventory valuation adjustment (line 7).
12 FFA, 1995-2004, December 6, 2012

F.103 Nonfinancial Noncorporate Business

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Gross saving = consumption of fixed capital 105.3 109.1 113.3 118.1 122.2 126.4 129.2 131.0 134.1 140.3 1

 2 Gross saving less net capital transfers paid (1) 105.6 109.1 113.3 118.1 122.6 126.4 130.5 131.0 134.1 145.3 2

 3 Gross investment 105.6 109.1 113.3 118.1 122.6 126.4 130.5 131.0 134.1 145.3 3

 4 Capital expenditures 126.5 149.6 158.6 171.8 190.9 212.1 210.0 220.2 228.0 258.1 4

 5 Fixed investment (2) 134.4 140.7 152.2 167.5 190.1 210.5 211.9 221.7 227.1 247.6 5

 6 Change in inventories -7.9 8.9 6.4 4.2 0.8 1.6 -1.9 -1.5 0.9 10.5 6

 7 Net lending (+) or net borrowing (-) -20.9 -40.5 -45.3 -53.7 -68.3 -85.7 -79.5 -89.2 -93.8 -112.8 7

 8 Net acquisition of financial assets 76.2 94.7 131.0 222.6 185.0 246.8 156.9 78.6 80.4 370.8 8

 9 Checkable deposits and currency 13.5 19.2 22.4 6.1 5.1 8.4 0.8 2.7 6.1 106.9 9

10 Time and savings deposits 4.3 3.5 10.7 40.7 53.1 68.1 7.1 14.5 44.7 -13.2 10

11 Money market mutual funds 1.9 2.2 3.7 9.7 8.1 8.7 9.6 2.3 2.3 2.9 11

12 Credit market instruments 3.8 4.0 2.6 12.9 -3.1 2.1 7.1 -0.8 1.5 11.5 12

13 Treasury securities 5.3 4.9 3.7 5.7 -0.8 3.0 2.7 0.0 2.1 5.3 13

14 Municipal securities 0.6 0.4 0.5 -0.4 -0.1 -0.3 1.1 -0.1 -0.7 1.7 14

15 Mortgages -2.1 -1.4 -1.6 7.6 -2.2 -0.7 3.4 -0.6 0.1 4.6 15

16 Consumer credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

17 Trade receivables 15.3 29.5 35.1 28.2 39.4 69.6 1.8 18.9 -25.1 26.6 17

18 Miscellaneous assets 37.4 36.3 56.6 124.9 82.5 89.9 130.5 41.0 51.0 236.0 18

19 Insurance receivables 2.7 1.0 0.7 3.0 1.1 -0.1 2.8 4.5 4.7 4.6 19

20 Equity investment in GSEs (3) -0.1 0.1 -0.0 0.0 -0.0 0.0 0.5 0.1 0.6 0.0 20

21 Other 34.7 35.2 55.9 121.9 81.4 90.0 127.3 36.5 45.8 231.4 21

22 Net increase in liabilities 97.1 135.2 176.3 276.3 253.3 332.5 236.4 167.8 174.3 483.6 22

23 Credit market instruments 45.3 70.4 102.0 179.0 193.8 192.4 163.5 151.8 73.8 254.7 23

24 Depository institution loans n.e.c. 11.5 29.2 46.8 25.5 49.6 50.4 43.5 23.7 10.3 32.9 24

25 Other loans and advances 4.9 1.1 4.3 5.8 6.1 7.4 -3.6 2.6 -0.6 1.2 25

26 Mortgages 29.0 40.2 51.0 147.7 138.1 134.5 123.6 125.5 64.1 220.6 26

27 Trade payables 13.8 31.8 31.9 30.3 34.5 41.5 -4.8 25.4 -26.2 23.7 27

28 Taxes payable 0.6 2.3 4.3 4.1 8.9 11.7 4.0 1.5 -0.5 8.4 28

29 Miscellaneous liabilities 13.5 29.7 56.5 92.3 73.8 86.0 54.9 19.0 23.0 68.9 29

30 Proprietors’ net investment 23.9 0.9 -18.4 -29.4 -57.7 0.9 18.7 -29.9 104.1 128.0 30

(1) Net capital transfers paid from table F.9, line 59.

(2) Nonresidential fixed investment plus residential fixed investment, shown in table F.6, lines 11 and 16 respectively.

(3) Equity in the Farm Credit System.
FFA, 1995-2004, December 6, 2012 13

F.104 State and Local Governments (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Current receipts, NIPA basis 991.9 1045.1 1099.5 1164.5 1240.4 1322.6 1374.0 1412.7 1496.3 1601.0 1

 2 Personal current taxes 158.1 168.7 182.0 201.2 214.5 236.7 243.0 221.8 226.2 248.6 2

 3 Taxes on production and imports 482.4 507.9 533.8 558.8 590.2 621.3 642.4 676.0 717.5 769.1 3

 4 Taxes on corporate income 31.7 33.0 34.1 34.9 35.8 35.2 28.9 30.9 34.0 41.7 4

 5 Contributions for govt. social insurance 13.6 12.5 10.8 10.4 9.8 10.8 13.7 15.9 20.1 24.1 5

 6 Income receipts on assets 68.5 73.4 78.2 81.5 85.8 94.3 90.0 79.6 74.0 77.1 6

 7 Current transfer receipts 224.2 234.0 246.4 265.3 291.1 313.9 348.0 382.3 421.3 439.4 7

 8 Current surplus of government enterprises 13.5 15.6 14.2 12.5 13.3 10.4 8.0 6.1 3.3 1.0 8

 9 Current expenditures, NIPA basis 982.7 1022.1 1063.2 1117.6 1198.6 1281.3 1389.9 1466.8 1535.1 1609.3 9

10 Consumption expenditures 701.3 730.2 764.5 808.6 870.6 930.6 994.2 1049.4 1096.5 1139.1 10

11 Govt. social benefit payments to persons 217.6 224.3 227.6 235.8 252.3 271.4 305.1 333.0 353.4 384.3 11

12 Interest payments 63.5 67.3 70.6 72.8 75.2 78.8 83.0 83.5 85.1 85.6 12

13 Subsidies 0.3 0.3 0.4 0.4 0.4 0.5 7.7 0.9 0.1 0.4 13

14 - Wage accruals less disbursements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

15 Net saving, NIPA basis 9.2 23.0 36.3 46.9 41.8 41.3 -15.9 -54.1 -38.8 -8.4 15

16 + Consumption of fixed capital 83.1 87.2 91.6 96.2 102.1 109.7 116.0 121.8 127.3 137.1 16

17 - Net capital transfers paid (2) -32.4 -33.8 -35.2 -35.9 -39.8 -43.8 -51.2 -52.4 -51.5 -47.5 17

18 = Gross saving less net capital transfers paid 124.7 144.1 163.1 178.9 183.7 194.7 151.3 120.1 139.9 176.2 18

19 Gross investment 194.4 200.2 212.7 268.2 251.9 266.7 217.0 168.3 166.2 233.5 19

20 Fixed investment 154.0 163.8 178.9 186.4 205.7 224.3 240.5 253.3 259.6 269.1 20

21 Nonproduced nonfinancial assets 6.6 6.0 5.8 7.6 8.6 8.6 10.1 11.2 11.4 11.4 21

22 Net lending (+) or net borrowing (-) 33.9 30.4 27.9 74.2 37.5 33.9 -33.7 -96.2 -104.7 -47.0 22

23 Net acq. of financial assets -9.7 28.0 98.2 161.8 97.6 75.7 98.7 76.6 44.8 132.7 23

24 Checkable deposits and currency 3.4 -5.5 4.4 -3.9 3.9 0.1 4.0 5.2 7.0 -6.8 24

25 Time and savings deposits 6.6 10.6 5.8 14.8 14.0 10.6 12.0 8.8 20.3 11.6 25

26 Money market fund shares 4.8 1.4 3.6 31.1 4.5 2.7 3.2 1.6 5.9 14.0 26

27 Security RPs -3.0 32.1 3.6 4.2 -2.5 -10.3 -10.9 -16.3 3.2 8.3 27

28 Credit market instruments -91.4 -33.7 0.1 109.7 101.9 70.7 93.9 86.2 42.5 127.5 28

29 Open market paper 17.1 20.3 14.3 12.8 17.5 15.2 17.5 14.3 2.9 8.0 29

30 Treasury securities -80.2 -32.8 -17.7 41.4 23.8 5.5 18.4 26.2 10.2 46.7 30

31 Agency- and GSE-backed securities -35.1 -35.3 -0.8 38.7 44.2 41.4 47.3 41.7 16.7 41.6 31

32 Municipal securities -3.5 -0.5 -0.7 -0.7 0.3 0.2 0.2 0.1 0.5 1.2 32

33 Corporate and foreign bonds 7.1 10.7 1.3 11.4 11.6 9.8 11.3 9.1 5.4 13.4 33

34 Mortgages 3.3 3.8 3.7 6.1 4.4 -1.3 -0.8 -5.3 6.8 16.8 34

35 Corporate equities 12.1 14.5 16.8 -8.8 -21.7 6.1 4.1 10.3 -19.6 -5.4 35

36 Mutual fund shares -3.6 -0.6 -18.2 -13.2 -8.1 1.2 0.4 2.1 -5.2 0.0 36

37 Trade receivables 6.1 5.6 6.3 7.0 8.7 4.9 6.0 2.6 -2.5 -4.7 37

38 Taxes receivable 0.5 2.4 4.3 4.9 9.7 11.2 1.0 2.5 0.9 11.3 38

39 Miscellaneous assets 54.7 1.4 71.5 16.1 -12.9 -21.6 -15.1 -26.2 -7.6 -23.1 39

40 Net increase in liabilities -43.6 -2.4 70.3 87.6 60.1 41.9 132.4 172.8 149.5 179.7 40

41 Credit market instruments -60.8 -20.5 50.8 66.8 37.3 16.9 105.5 144.6 120.5 149.5 41

42 Municipal securities -60.9 -15.7 45.6 66.7 38.9 16.5 105.4 143.9 120.5 149.2 42

43 Short-term (3) 1.2 6.3 8.3 -6.3 2.6 1.4 23.8 25.2 10.4 22.2 43

44 Long-term -62.1 -22.0 37.3 72.9 36.3 15.1 81.5 118.7 110.1 127.0 44

45 U.S. government loans 0.1 -4.8 5.1 0.1 -1.6 0.4 0.1 0.6 0.1 0.3 45

46 Trade payables 17.2 18.2 19.5 20.8 22.8 25.0 26.9 28.3 29.0 30.2 46

47 Discrepancy -69.8 -56.2 -49.6 -89.3 -68.1 -72.0 -65.6 -48.2 -26.3 -57.3 47

(1) Data for retirement funds are shown in table F.117.

(2) Table F.9, line 62.

(3) Debt with original maturity of 13 months or less.
14 FFA, 1995-2004, December 6, 2012

F.105 Federal Government

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Current receipts, NIPA basis 1407.8 1526.4 1656.2 1777.9 1895.0 2057.1 2020.3 1859.3 1885.1 2013.9 1

 2 Personal current taxes 585.8 663.3 744.2 825.2 893.0 995.6 991.8 828.6 774.2 799.2 2

 3 Taxes on production and imports 75.6 72.9 77.8 80.7 83.4 87.3 85.3 86.8 89.3 94.3 3

 4 Taxes on corporate income 179.3 190.6 203.0 204.2 213.0 219.4 164.7 150.5 197.8 250.3 4

 5 Taxes from the rest of the world 3.9 5.2 5.1 5.7 5.9 7.3 7.7 7.6 9.0 10.0 5

 6 Contributions for govt. social insurance 521.9 545.4 579.4 617.4 654.8 698.6 723.3 739.3 762.8 807.6 6

 7 Income receipts on assets 23.3 26.5 25.4 21.2 20.6 24.5 24.5 20.3 22.8 23.2 7

 8 Current transfer receipts 18.4 23.8 21.3 22.6 23.4 25.7 27.0 26.1 25.6 29.0 8

 9 Current surplus of government enterprises -0.3 -1.2 -0.1 0.8 0.8 -1.2 -4.0 0.2 3.7 0.3 9

10 Current expenditures, NIPA basis 1614.0 1674.7 1716.3 1744.3 1796.2 1871.9 1979.8 2112.1 2261.5 2393.4 10

11 Consumption expenditures 440.1 446.5 457.5 454.6 473.3 496.0 530.2 590.5 660.3 721.4 11

12 Government social benefits 649.4 684.5 710.0 724.4 743.8 777.8 845.7 924.6 972.7 1024.9 12

13 Other current transfer payments 199.6 211.5 215.4 230.6 251.6 269.6 294.3 327.5 366.6 380.1 13

14 Interest payments 290.4 297.3 300.0 298.8 282.7 283.3 258.6 229.1 212.9 221.0 14

15 Subsidies 34.5 34.9 33.4 35.9 44.8 45.3 51.1 40.5 49.0 46.0 15

16 - Wage accruals less disbursements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

17 Net saving, NIPA basis -206.2 -148.2 -60.1 33.6 98.8 185.2 40.5 -252.8 -376.4 -379.5 17

18 + Consumption of fixed capital 81.7 81.9 82.5 82.8 85.0 87.8 88.6 89.2 90.8 94.8 18

19 - Insurance and pension reserves (1) 3.6 3.4 3.4 4.4 3.8 1.8 3.3 -1.7 -0.6 0.0 19

20 - Contr. for govt. soc. insur., U.S.-affiliated areas 2.7 2.8 3.0 3.1 3.3 3.6 3.7 3.8 3.9 4.4 20

21 - Net capital transfers paid (2) 13.0 10.9 8.7 3.7 7.6 8.5 14.1 23.9 40.6 38.9 21

22 = Gross saving less net capital transfers paid -143.8 -83.4 7.3 105.2 169.1 259.2 108.0 -189.5 -329.5 -327.9 22

23 Gross investment -127.4 -114.5 6.0 90.4 189.7 278.6 80.9 -201.8 -380.8 -330.8 23

24 Fixed investment 78.6 80.4 73.4 76.4 81.6 80.1 81.5 90.1 96.2 103.3 24

25 Nonproduced nonfinancial assets -7.4 -3.8 -7.6 -5.8 -0.4 -0.2 -0.7 0.3 -0.2 0.0 25

26 Net lending (+) or net borrowing (-) -198.6 -191.2 -59.8 19.8 108.4 198.7 -0.0 -292.2 -476.9 -434.1 26

27 Net acq. of financial assets -29.5 7.4 -2.7 -4.4 75.0 -68.8 53.3 8.4 34.2 4.3 27

28 U.S. official reserve assets 6.4 -2.9 2.5 6.0 -7.1 -0.7 4.6 3.4 -1.8 -3.1 28

29 Checkable deposits and currency -0.0 11.0 -0.5 -16.7 66.2 -65.1 41.1 -17.1 9.3 -31.0 29

30 Time and savings deposits 0.3 1.4 1.0 1.3 0.7 1.0 4.2 17.1 -25.2 -0.0 30

31 Credit market instruments -24.7 3.9 11.3 5.6 4.3 8.1 3.9 8.0 -2.6 2.3 31

32 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 32

33 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 33

34 Other loans and advances -13.5 2.6 5.9 -2.4 -7.0 -2.8 -7.8 -0.5 -2.0 -3.0 34

35 Mortgages -13.5 -7.2 -4.5 -0.8 -0.1 -0.9 -1.1 0.5 -2.5 1.6 35

36 Consumer credit (3) 2.3 8.5 10.0 8.9 11.5 11.7 12.8 8.0 1.9 3.7 36

37 Corporate equities (4) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 37

38 Trade receivables -1.6 0.9 -3.2 1.5 4.6 5.3 7.3 -3.3 19.1 10.5 38

39 Taxes receivable -7.9 -0.3 -10.3 -9.3 1.2 -22.0 -9.8 -2.8 33.5 22.3 39

40 Miscellaneous assets -2.1 -6.7 -3.5 7.1 5.1 4.6 2.0 3.1 2.0 3.3 40

41 Net increase in liabilities 169.1 198.5 57.1 -24.2 -33.4 -267.5 53.3 300.6 511.1 438.4 41

42 SDR allocations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 42

43 SDR certificates 2.2 -0.5 -0.5 0.0 -3.0 -4.0 0.0 0.0 0.0 0.0 43

44 Treasury currency 0.7 0.5 0.5 0.6 1.0 2.4 1.3 1.0 0.6 0.7 44

45 Credit market instruments 144.4 144.9 23.1 -52.6 -71.2 -295.9 -5.6 257.6 396.0 361.9 45

46 Savings bonds 5.1 2.0 -0.5 0.1 -0.2 -1.7 5.6 4.5 8.9 0.6 46

47 Treasury bills 26.9 16.7 -62.0 -24.4 46.1 -90.2 164.4 77.5 40.0 72.4 47

48 Other Treasury securities 111.0 127.8 85.7 -30.3 -116.9 -203.0 -175.0 175.0 349.5 289.5 48

49 Budget agency securities 1.5 -1.6 -0.1 2.0 -0.2 -1.0 -0.5 0.5 -2.4 -0.6 49

50 Multifamily residential mortgages 0.0 -0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 50

51 Trade payables -4.5 1.1 -8.3 -7.6 0.2 5.7 3.2 1.0 71.7 15.4 51

52 Insurance reserves 1.0 0.6 1.7 1.3 1.4 1.4 1.4 1.6 1.1 1.1 52

53 Miscellaneous liabilities (5) 25.3 51.8 40.6 34.1 38.2 22.9 53.0 39.5 41.7 59.3 53

54 Nonmarketable securities held by pension plans 20.8 55.1 40.3 41.2 41.1 20.9 60.8 24.5 24.7 40.9 54

55 Other 4.5 -3.3 0.3 -7.1 -2.9 2.0 -7.8 14.9 17.1 18.4 55

56 Discrepancy -16.4 31.1 1.3 14.8 -20.5 -19.4 27.2 12.2 51.4 2.9 56

 Memo:

57 Change in cash balance (6) -5.7 12.9 -2.2 -12.8 59.4 -55.1 5.2 -1.6 -24.8 -3.1 57

(1) Railroad Retirement Board, the National Railroad Retirement Investment Trust, and federal government life insurance reserves.

(2) Table F.9, line 61 less line 12.

(3) Includes loans originated by the Department of Education under the Federal Direct Loan Program, as well as Federal Family Education Loan Program loans that

 the government purchased from depository institutions and finance companies.

(4) Corporate equities purchased from financial businesses under the Troubled Asset Relief Program (TARP) and from GSEs at issuance price.

(5) Includes nonmarketable government securities held by the civil service retirement and disability fund, Railroad Retirement Board, judicial retirement fund, military

 retirement fund, and foreign service retirement and disability fund.

(6) Time and savings deposits (line 30) plus checkable deposit and currency liabilities of the monetary authority and U.S.-chartered depository institutions sectors (table F.204, lines 3 and 8).
FFA, 1995-2004, December 6, 2012 15

F.106 Rest of the World

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Foreign income from U.S. 1146.2 1227.6 1363.3 1444.6 1600.7 1884.1 1742.4 1768.1 1910.5 2253.4 1

 2 U.S. imports 902.6 964.0 1055.8 1115.7 1251.4 1475.3 1398.7 1430.2 1545.1 1798.9 2

 3 U.S. income payments to rest of world 199.6 214.2 256.1 268.9 291.7 342.8 271.1 264.4 284.6 357.4 3

 4 Current taxes and trans. payments to rest of world 44.0 49.5 51.4 60.0 57.6 66.1 72.6 73.5 80.7 97.1 4

 5 Foreign outlays to U.S. 1041.1 1113.5 1233.9 1240.1 1308.8 1473.7 1350.7 1316.5 1394.3 1628.8 5

 6 U.S. exports 811.9 867.7 954.4 953.9 989.3 1093.2 1027.7 1003.0 1041.0 1180.2 6

 7 U.S. income receipts from rest of world 229.3 245.8 279.5 286.2 319.5 380.5 323.0 313.5 353.3 448.6 7

 8 - Net capital transfers paid (1) -0.6 -0.2 -0.4 -0.2 -4.5 -0.4 12.9 -0.6 -2.2 2.8 8

 9 Gross saving less net capital transfers paid (2) 105.7 114.3 129.7 204.8 296.4 410.7 378.7 452.1 518.3 621.8 9

10 Gross investment 82.8 134.5 218.6 67.0 234.0 477.7 413.5 500.4 531.1 535.4 10

11 Nonproduced nonfinancial assets 0.2 -0.0 -0.1 0.0 0.0 0.0 0.0 0.1 0.1 0.0 11

12 Net lending (+) or net borrowing (-) 82.6 134.5 218.7 67.0 234.0 477.7 413.5 500.4 531.1 535.4 12

13 Net acquisition of financial assets 419.3 522.1 594.9 390.1 720.1 953.4 667.1 770.4 820.4 1398.6 13

14 Monetary gold (3) 0.0 0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

15 SDR allocations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

16 Net interbank assets 15.0 -47.8 -5.1 -27.6 -1.5 -11.7 -48.9 3.6 34.0 -16.8 16

17 U.S. checkable deposits and currency 9.9 16.7 27.5 10.5 24.3 -1.2 18.8 18.3 14.6 22.4 17

18 U.S. time deposits -6.6 10.9 13.1 51.9 3.0 -17.3 0.6 41.2 5.2 34.1 18

19 Money market fund shares 0.8 0.8 0.8 0.8 0.8 3.1 3.9 1.1 2.6 4.1 19

20 Security RPs (net) 21.0 3.2 20.0 -18.8 8.0 11.4 -78.2 15.5 86.9 70.3 20

21 Credit market instruments 246.8 379.6 259.6 168.5 146.4 242.2 299.2 467.2 582.8 854.4 21

22 Open market paper 18.6 14.4 19.9 33.6 -6.4 9.3 -5.9 18.1 66.2 37.0 22

23 Treasury securities 160.5 262.7 123.7 18.7 -32.3 -75.2 19.3 160.9 276.4 366.9 23

24 Official 69.0 115.7 -6.7 -9.9 12.2 -5.2 33.7 60.5 184.9 273.3 24

25 Private 91.5 147.0 130.4 28.6 -44.5 -70.0 -14.4 100.4 91.5 93.6 25

26 Agency- and GSE-backed securities 17.6 26.8 30.3 11.1 63.4 141.9 92.0 127.1 12.3 178.2 26

27 Official 3.7 5.0 4.5 6.3 20.4 40.9 12.2 41.6 46.8 93.5 27

28 Private 13.9 21.8 25.8 4.7 43.1 101.0 79.9 85.5 -34.5 84.7 28

29 Municipal securities 1.0 1.0 1.0 1.0 1.0 0.2 0.0 3.5 8.0 6.5 29

30 U.S. corporate bonds (4) 49.2 70.8 67.4 105.2 143.4 168.2 195.4 147.5 220.8 259.5 30

31 Loans to U.S. corporate business 0.0 3.9 17.3 -1.0 -22.7 -2.2 -1.6 10.1 -0.8 6.3 31

32 U.S. corporate equities 3.5 -3.5 53.2 27.4 104.5 199.7 134.3 54.4 5.2 25.0 32

33 Mutual fund shares 12.3 13.8 13.1 13.8 7.1 -9.2 -16.7 -1.5 26.2 32.7 33

34 Trade receivables 0.7 5.5 0.9 -6.5 -5.1 -0.4 -3.1 2.6 1.3 -1.1 34

35 Security credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 35

36 Miscellaneous assets 115.9 142.9 211.9 170.2 432.8 536.8 357.4 168.0 61.7 373.5 36

37 Foreign direct investment in U.S. (5) 57.8 86.5 105.6 179.0 289.4 321.3 167.0 84.4 63.8 146.0 37

38 Other 58.1 56.4 106.3 -8.9 143.4 215.5 190.3 83.6 -2.1 227.5 38

39 Net increase in liabilities 336.7 387.7 376.1 323.1 486.1 475.7 253.7 270.0 289.4 863.2 39

40 U.S. official reserve assets 9.6 -6.7 1.0 6.8 -8.7 0.3 4.9 3.7 -1.5 -2.8 40

41 U.S. private deposits 35.3 85.9 107.7 9.1 48.9 126.9 6.8 21.0 36.0 89.9 41

42 Credit market instruments 78.3 88.0 69.9 37.2 19.0 63.0 -11.2 93.4 43.0 155.3 42

43 Commercial paper 13.5 11.3 3.7 7.8 16.3 31.7 18.3 58.8 18.9 69.2 43

44 Bonds 56.9 66.6 59.6 28.8 7.9 21.2 -18.5 31.6 28.7 85.8 44

45 Depository institution loans n.e.c. 8.5 9.1 8.5 6.6 0.5 11.4 -7.3 5.3 -2.5 3.8 45

46 Official 0.4 0.3 -0.8 0.7 0.2 0.6 0.8 0.8 -0.6 1.0 46

47 Banks 2.1 3.4 -0.5 -0.7 -3.2 3.4 -7.4 -0.8 3.8 4.5 47

48 Other 5.9 5.4 9.8 6.6 3.5 7.4 -0.7 5.3 -5.7 -1.7 48

49 Other loans and advances -0.5 1.0 -1.8 -6.0 -5.7 -1.3 -3.8 -2.3 -2.1 -3.6 49

50 Foreign corporate equities (6) 65.4 82.8 57.6 101.4 114.3 106.7 109.1 17.0 118.0 84.8 50

51 Trade payables 5.8 -1.7 5.2 -3.9 4.2 0.8 -7.7 -4.9 6.1 3.5 51

52 Security debt 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 52

53 Miscellaneous liabilities 142.3 139.2 134.7 172.5 308.5 178.0 151.7 139.9 87.9 532.6 53

54 U.S. equity in IBRD, etc. 1.5 1.8 1.6 1.6 1.5 1.5 1.7 1.5 1.4 2.0 54

55 Nonofficial foreign currencies 0.3 -0.1 -0.0 -0.1 0.6 0.0 -0.1 0.1 0.2 -0.0 55

56 U.S. direct investment abroad (4,5) 98.8 91.9 104.8 142.6 224.9 159.2 142.3 154.5 149.6 316.2 56

57 Investment by holding companies 3.8 4.1 -0.8 -0.6 4.1 -32.5 -3.3 -0.6 44.1 -25.6 57

58 Other 37.9 41.5 29.1 29.0 77.3 49.8 11.1 -15.5 -107.4 240.0 58

59 Discrepancy (FOF basis) (7) 22.9 -20.1 -88.9 137.8 62.4 -67.0 -34.7 -48.3 -12.8 86.4 59

 Memo:

60 Net U.S. exports, NIPA basis -90.7 -96.3 -101.4 -161.8 -262.1 -382.1 -371.0 -427.2 -504.1 -618.7 60

61 + Net U.S. income receipts (8) 29.7 31.7 23.4 17.3 27.8 37.7 51.9 49.1 68.7 91.2 61

62 - Current taxes and trans. payments to rest of world 44.0 49.5 51.4 60.0 57.6 66.1 72.6 73.5 80.7 97.1 62

63 = Balance on current account, NIPAs -105.1 -114.1 -129.3 -204.5 -291.9 -410.4 -391.6 -451.6 -516.1 -624.6 63

(1) Table F.9, line 64.

(2) Line 1 minus line 5 minus line 8; equals net lending or net borrowing (-), NIPAs, with the sign reversed. Also equal to line 63 with the sign reversed minus line 8.

(3) U.S. net sales, sign reversed.

(4) Through 1992:Q4, corporate bonds include net issues by Netherlands Antillean financial subsidiaries; U.S. direct investment abroad excludes net inflows from those bond issues.

(5) Direct investment is valued on a current-cost basis. Excludes capital gains and losses.

(6) Includes American Depositary Receipts (ADRs).

(7) Balance of payments discrepancy adjusted to NIPA concepts.

(8) Consists of net receipts from foreigners of interest, corporate profits, and employee compensation. Equals difference between GNP and GDP.
16 FFA, 1995-2004, December 6, 2012

F.107 Financial Business (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Gross saving less net capital transfers paid 110.6 107.2 125.7 100.7 147.1 135.8 190.2 231.4 264.7 268.4 1

 2 Gross investment 169.5 134.5 198.7 159.0 270.7 156.4 127.9 169.7 353.4 176.2 2

 3 Capital expenditures 100.0 112.5 124.7 143.7 147.3 150.3 141.4 141.0 135.1 160.6 3

 4 Fixed residential investment 2.7 4.4 11.3 11.4 1.8 3.8 4.1 4.6 -0.2 5.5 4

 5 Fixed nonresidential investment 97.3 108.1 113.4 132.3 145.5 146.4 137.3 136.4 135.4 155.1 5

 6 Net lending (+) or net borrowing (-) 69.5 22.0 74.0 15.3 123.4 6.1 -13.5 28.7 218.3 15.6 6

 7 Net acqisition of financial assets 1432.4 1572.1 2061.4 2531.6 2510.4 2463.6 2958.7 2316.9 2778.9 2961.2 7

 8 U.S. official reserve assets 3.2 -3.8 -1.5 0.8 -1.7 0.9 0.3 0.3 0.3 0.3 8

 9 SDR certificates 2.2 -0.5 -0.5 0.0 -3.0 -4.0 0.0 0.0 0.0 0.0 9

10 Treasury currency 1.0 1.0 0.6 0.7 1.7 3.6 1.4 1.6 0.9 1.0 10

11 Foreign deposits 4.0 3.4 0.1 6.9 11.0 50.3 27.8 -6.8 -36.6 7.0 11

12 Net interbank assets 2.0 3.7 4.5 -8.6 20.6 -26.1 0.4 6.0 -0.1 -4.2 12

13 Checkable deposits and currency -0.6 10.6 14.0 6.8 10.9 4.2 65.3 13.5 43.5 30.9 13

14 Time and savings deposits 34.6 39.4 43.3 42.1 4.6 -30.5 68.5 -27.9 -43.1 1.0 14

15 Money market fund shares 11.5 77.9 53.3 101.0 100.4 37.8 147.7 2.0 -76.3 -111.7 15

16 Federal funds and security RPs 53.6 10.9 33.4 32.9 140.5 -37.5 32.7 35.6 -26.6 0.4 16

17 Credit market instruments 1043.0 884.7 1220.2 1753.2 1837.9 1435.7 1732.4 1803.5 2100.5 1918.7 17

18 Open market paper 35.3 52.4 144.0 140.4 205.8 164.5 -196.5 -130.2 -157.0 35.5 18

19 Treasury securities 70.2 -73.5 76.7 -46.8 -59.6 -16.4 46.3 196.6 88.3 -53.3 19

20 Agency- and GSE-backed securities 192.1 132.4 151.3 352.0 399.8 213.5 623.5 539.5 420.4 -168.2 20

21 Municipal securities 24.8 38.8 38.2 84.9 24.6 11.7 74.5 55.5 101.3 87.0 21

22 Corporate and foreign bonds 207.4 202.3 261.4 346.2 319.4 96.3 384.1 201.3 568.0 524.0 22

23 Depository institution loans n.e.c. 111.8 94.0 128.1 140.2 94.0 116.6 -73.4 -80.0 -66.0 54.5 23

24 Other loans and advances 50.9 50.2 70.6 153.3 158.2 131.8 30.0 30.0 36.9 117.4 24

25 Mortgages 204.3 283.6 296.2 489.6 591.6 558.2 697.7 895.5 988.9 1208.6 25

26 Consumer credit 146.2 104.5 53.7 93.3 104.1 159.5 146.2 95.4 119.8 113.3 26

27 Corporate equities 56.4 160.2 101.0 155.8 76.1 437.2 450.7 169.4 257.3 329.1 27

28 Mutual fund shares 84.0 58.7 78.9 80.3 75.3 165.8 78.0 101.0 -2.6 97.1 28

29 Trade receivables 20.1 9.0 23.6 5.6 -15.8 17.1 17.9 -0.7 13.4 10.6 29

30 Security credit 8.1 17.1 58.4 41.9 57.1 57.6 -38.8 -45.4 57.3 76.4 30

31 Life insurance reserves 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

32 Miscellaneous assets 109.2 299.7 432.1 312.2 194.7 351.4 374.4 264.8 491.2 604.5 32

33 Net increase in liabilities 1362.8 1550.1 1987.4 2516.3 2387.0 2457.4 2972.2 2288.2 2560.7 2945.6 33

34 Net interbank liabilities 12.3 -47.1 -22.1 -40.3 11.2 -19.2 -49.2 13.8 25.2 -5.2 34

35 Checkable deposits and currency -28.8 -11.0 8.8 11.1 112.0 -113.5 110.6 -7.9 84.5 85.4 35

36 Time and savings deposits 178.3 237.9 252.0 281.1 215.0 347.2 383.1 375.3 363.2 534.4 36

37 Money market fund shares 141.2 145.4 155.9 285.4 251.7 232.5 428.5 -16.7 -207.5 -136.5 37

38 Federal funds and security RPs 96.9 44.3 100.3 39.7 130.8 75.5 41.4 108.7 223.9 80.3 38

39 Credit market instruments 433.6 523.2 570.3 1026.5 1052.6 790.9 862.2 881.4 1071.0 938.9 39

40 Open market paper 42.7 92.2 166.7 161.0 176.2 131.7 -126.9 -99.9 -63.5 21.7 40

41 Agency- and GSE-backed securities 204.3 231.4 213.7 471.6 593.3 434.9 642.7 546.7 586.2 115.8 41

42 Corporate and foreign bonds 181.2 141.9 130.0 246.8 148.6 173.7 307.5 398.8 487.3 668.5 42

43 Depository institution loans n.e.c. -3.3 21.9 9.5 32.1 20.1 3.4 11.2 17.9 20.9 33.4 43

44 Other loans and advances 3.4 27.9 35.6 90.2 107.1 42.5 25.5 6.8 31.2 74.1 44

45 Mortgages 5.3 7.9 14.9 24.8 7.2 4.7 2.2 11.2 8.9 25.5 45

46 Corporate equities -7.2 -21.3 -27.9 3.5 1.7 17.1 39.9 71.5 66.1 118.4 46

47 Mutual fund shares 147.4 237.6 265.1 279.5 191.2 237.6 204.9 181.1 288.6 298.2 47

48 Trade payables 1.1 4.0 5.7 -1.0 11.9 5.1 3.3 -1.8 -9.2 7.8 48

49 Security credit 23.1 36.6 74.2 81.6 29.2 138.9 41.9 -38.9 85.7 97.9 49

50 Life insurance reserves 44.8 43.8 57.6 46.7 49.4 48.7 75.8 58.5 65.7 32.0 50

51 Pension fund reserves 176.2 158.3 220.8 286.7 147.8 263.0 290.5 274.7 297.3 357.9 51

52 Taxes payable 8.1 4.1 8.1 4.3 4.3 10.3 4.7 -3.9 10.3 5.3 52

53 Equity in noncorporate business -0.5 0.3 1.1 -1.4 1.2 -0.2 -3.3 0.6 -3.4 -4.2 53

54 Miscellaneous liabilities 136.4 193.9 317.5 213.0 177.0 423.6 538.1 391.6 199.3 534.9 54

55 Discrepancy -58.9 -27.3 -73.0 -58.3 -123.6 -20.6 62.3 61.7 -88.7 92.2 55

(1) Sum of financial sectors shown on tables F.108 through F.129.
FFA, 1995-2004, December 6, 2012 17

F.108 Monetary Authority (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Gross saving -0.6 2.5 3.7 -0.8 1.6 6.2 2.4 -0.5 -1.6 2.2 1

 2 Fixed nonresidential investment 1.6 1.7 1.9 1.8 2.4 1.6 1.0 0.6 0.6 0.8 2

 3 Net acquisition of financial assets 19.8 23.3 38.8 32.9 130.0 -60.9 47.0 70.7 43.2 44.4 3

 4 U.S. official reserve assets 3.2 -3.8 -1.5 0.8 -1.7 0.9 0.3 0.3 0.3 0.3 4

 5 SDR certificates 2.2 -0.5 -0.5 0.0 -3.0 -4.0 0.0 0.0 0.0 0.0 5

 6 Treasury currency 1.0 1.0 0.6 0.7 1.7 3.6 1.4 1.6 0.9 1.0 6

 7 Federal Reserve float (2) 0.8 4.2 -3.6 0.9 -1.9 1.1 -0.9 0.4 -0.7 1.2 7

 8 Interbank loans (2) -0.1 -0.1 2.0 -2.0 0.2 -0.1 -0.1 0.0 0.0 -0.0 8

 9 Discount window (3) -0.1 -0.1 2.0 -2.0 0.2 -0.1 -0.1 0.0 0.0 -0.0 9

10 AMLF (4) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

11 Security RPs 3.3 7.7 2.3 6.5 110.3 -97.3 6.9 -10.8 4.3 -10.8 11

12 Credit market instruments 12.7 12.3 38.3 21.1 25.7 33.7 39.9 77.7 37.2 51.2 12

13 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

14 Treasury securities 13.7 12.7 39.8 21.4 25.8 33.7 40.0 77.7 37.3 51.2 14

15 Treasury bills 5.7 7.5 6.5 -2.4 -18.3 2.2 3.3 44.6 18.2 18.1 15

16 Other Treasury securities 7.9 5.2 33.4 23.8 44.1 31.5 36.6 33.1 19.1 33.0 16

17 Agency- and GSE-backed securities -1.0 -0.4 -1.5 -0.3 -0.2 -0.1 -0.1 0.0 -0.0 0.0 17

18 Mortgage-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

19 Other agency- and GSE-baked securities -1.0 -0.4 -1.5 -0.3 -0.2 -0.1 -0.1 0.0 -0.0 0.0 19

20 Depository institution loans n.e.c. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

21 Households (TALF) (5) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

22 Rest of world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

23 Brokers and dealers (6) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

24 Funding corporations (Maiden Lane) (7) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

25 Funding corporations (AIG) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

26 Funding corporations (Maiden Lane II) (8) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

27 Funding corporations (Maiden Lane III) (9) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

28 Funding corporations (CPFF) (10) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

29 Corporate equities (11) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

30 Miscellaneous assets -3.2 2.4 1.3 4.9 -1.3 1.1 -0.4 1.4 1.3 1.5 30

31 Nonofficial foreign currencies (12) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

32 Other -3.2 2.4 1.3 4.9 -1.3 1.1 -0.4 1.4 1.3 1.5 32

33 Net increase in liabilities 19.5 22.8 38.1 32.1 129.5 -61.3 46.5 69.6 42.7 41.7 33

34 Depository institution reserves -1.2 -5.1 6.3 -4.5 -2.3 -5.0 -1.6 5.1 0.5 1.0 34

35 Vault cash of commercial banks 2.4 4.6 -0.2 -2.9 24.5 -22.2 2.9 0.5 0.1 -6.4 35

36 Checkable deposits and currency 16.9 23.3 29.8 39.0 108.2 -35.1 47.4 41.9 37.3 37.7 36

37 Due to federal government -1.2 1.7 -2.3 0.5 22.3 -22.9 1.5 -2.3 1.3 0.1 37

38 Treasury cash holdings -0.1 -0.0 -0.0 -0.1 0.0 0.3 -0.0 -0.1 -0.0 -0.1 38

39 Treasury general deposit account -1.2 1.8 -2.3 0.6 22.3 -23.3 1.5 -2.2 1.3 0.2 39

40 Treasury temporary supplementary financing account 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 40

41 Due to rest of the world 0.1 -0.2 0.3 -0.3 -0.1 0.1 -0.2 0.1 0.0 -0.1 41

42 Due to government-sponsored enterprises 0.0 -0.0 0.0 0.7 -0.4 0.1 -0.6 0.4 -0.5 0.6 42

43 Currency outside banks 18.0 21.8 31.9 38.1 86.4 -12.5 46.7 43.7 36.5 37.1 43

44 Security RPs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21.1 4.6 5.1 44

45 Miscellaneous liabilities 1.4 -0.0 2.1 0.6 -0.9 1.0 -2.3 1.1 0.2 4.2 45

46 Federal Reserve Bank stock 0.3 0.6 0.8 0.5 0.5 0.6 0.4 1.0 0.5 3.1 46

47 Other 1.1 -0.7 1.3 0.1 -1.4 0.4 -2.7 0.1 -0.3 1.2 47

48 Discrepancy -2.4 0.3 1.1 -3.4 -1.4 4.2 0.9 -2.2 -2.7 -1.3 48

(1) Assets and liabilities of Federal Reserve Banks and Treasury monetary accounts that supply or absorb bank reserves. Excludes the accounts of the Federal Reserve Board.

(2) Shown on table F.203.

(3) Federal Reserve loans extended to U.S.-chartered depository institutions through term auction credit, primary credit, secondary credit, and seasonal credit.

(4) Federal Reserve loans extended to U.S.-chartered depository institutions through the Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility (AMLF).

(5) Loans extended to financial institutions such as domestic hedge funds through the Term Asset-Backed Securities Loan Facility (TALF).

(6) Loans extended through the Federal Reserve’s Primary Dealer Credit Facility (PDCF) and AMLF.

(7) Loan extended by the Federal Reserve to Maiden Lane LLC to facilitate the arrangements associated with JPMorgan Chase & Co.’s acquisition of Bear Stearns Companies, Inc.

(8) Loan extended by the Federal Reserve to Maiden Lane II LLC to purchase residential mortgage-backed securities from the U.S. securities lending reinvestment portfolio of AIG subsidiaries.

(9) Loan extended by the Federal Reserve to Maiden Lane III LLC to purchase CDOs on which AIG has written credit default swap contracts.

(10) Loan extended by the Federal Reserve to Commercial Paper Funding Facility LLC.

(11) Preferred interests in AIA Aurora LLC and ALICO Holdings LLC, two limited liability companies created to hold all the outstanding common stock of American International Assurance

 Company Ltd (AIA) and American Life Insurance Company (ALICO), two life insurance subsidiaries of AIG.

(12) Reciprocal currency arrangements (swap lines) with foreign central banks.
18 FFA, 1995-2004, December 6, 2012

F.109 Private Depository Institutions (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Gross saving less net capital transfers paid (2) 25.0 0.4 13.1 13.1 10.3 31.7 46.1 40.1 32.5 22.1 1

 2 Fixed nonresidential investment 18.3 23.2 26.4 24.4 22.7 17.9 13.3 9.5 10.9 13.2 2

 3 Net lending (+) or net borrowing (-) 1.8 -24.9 11.3 15.0 82.8 -39.5 -54.3 -45.2 67.3 -70.4 3

 4 Net acquisition of financial assets 245.2 240.5 467.6 350.5 405.9 489.2 351.8 637.9 564.2 804.1 4

 5 Vault cash 2.4 4.6 -0.2 -2.9 24.5 -22.2 2.9 0.5 0.1 -6.4 5

 6 Reserves at Federal Reserve -1.2 -5.1 6.3 -4.5 -2.3 -5.0 -1.6 5.1 0.5 1.0 6

 7 Credit market instruments 269.6 227.7 327.5 352.1 416.4 446.9 285.8 474.7 487.6 724.4 7

 8 Open market paper -1.6 0.7 -1.2 0.0 1.7 -0.5 1.2 -0.9 -0.8 0.1 8

 9 Treasury securities -23.0 -19.4 3.7 -59.8 3.4 -39.2 -20.4 41.0 5.1 -27.3 9

10 Agency- and GSE-backed securities 48.4 24.4 74.5 86.6 44.0 15.8 94.8 149.2 121.3 9.4 10

11 Municipal securities -4.2 1.0 2.5 8.6 6.4 3.5 7.7 2.5 11.8 8.9 11

12 Corporate and foreign bonds -0.7 -11.7 11.1 66.3 56.0 56.2 69.3 17.3 36.3 68.9 12

13 Depository institution loans n.e.c. 111.8 94.0 128.1 140.2 94.0 116.6 -73.4 -80.0 -66.0 54.5 13

14 Other loans and advances -0.6 1.0 -2.8 -9.3 -3.1 -0.7 -2.9 -0.0 -0.2 -0.4 14

15 Mortgages 82.0 95.8 113.3 114.2 196.3 232.4 180.5 307.7 308.0 552.4 15

16 Consumer credit 57.5 41.9 -1.7 5.2 17.6 62.9 28.8 37.9 72.1 57.8 16

17 Corporate equities 2.8 2.4 0.8 2.8 1.3 0.7 3.4 1.3 1.4 -1.4 17

18 Mutual fund shares 0.5 0.0 0.6 0.8 1.2 2.2 9.3 1.5 -5.6 -1.9 18

19 Security credit 4.6 1.3 21.7 20.3 -18.0 50.4 0.0 2.8 23.0 -5.1 19

20 Life insurance reserves 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

21 Miscellaneous assets -33.5 9.6 110.9 -18.0 -17.2 16.2 51.9 152.1 57.2 93.6 21

22 Net increase in liabilities 243.4 265.4 456.3 335.6 323.1 528.7 406.1 683.1 496.9 874.5 22

23 Net interbank liabilities 11.0 -46.7 -28.2 -32.8 -11.0 8.0 -50.6 8.3 24.6 0.2 23

24 Checkable deposits -45.8 -34.3 -21.0 -27.9 3.7 -78.4 63.1 -49.8 47.1 47.6 24

25 Small time and savings deposits 112.6 123.9 129.5 189.3 83.8 231.0 314.6 325.4 307.4 281.6 25

26 Large time deposits 65.6 114.0 122.5 91.8 131.1 116.2 68.5 50.0 55.8 252.9 26

27 Federal funds and security RPs (net) 16.5 42.5 65.9 40.0 92.7 22.6 -20.8 68.3 64.2 17.4 27

28 Credit market instruments 5.4 35.1 43.5 90.4 107.3 56.6 27.3 3.8 34.5 83.7 28

29 Open market paper -0.8 1.0 -2.7 -9.4 -2.9 -0.7 -3.2 -0.2 -0.2 -0.3 29

30 Corporate bonds 2.7 7.3 10.8 10.3 3.8 14.1 5.7 -0.8 6.5 12.9 30

31 Other loans and advances 3.5 26.9 35.4 89.5 106.4 43.2 24.8 4.7 28.3 71.1 31

32 Corporate equity issues 2.6 3.2 3.2 3.8 3.8 4.4 8.2 5.5 9.1 5.6 32

33 Taxes payable (net) 5.1 2.0 5.3 3.1 2.0 9.7 3.8 10.0 1.7 -0.5 33

34 Miscellaneous liabilities 70.2 25.5 135.6 -22.1 -90.5 158.7 -8.1 261.5 -47.5 186.1 34

35 Foreign direct investment in U.S. 6.6 -0.1 7.7 5.5 19.5 5.8 6.4 2.1 4.2 17.9 35

36 Investment by holding companies 38.9 33.7 31.3 61.2 24.4 94.8 60.3 66.5 19.8 219.1 36

37 Investment by funding corporations 6.7 13.7 14.3 11.8 2.5 45.6 -21.9 18.6 7.4 33.0 37

38 Other 18.0 -21.7 82.3 -100.5 -136.9 12.4 -53.0 174.3 -78.9 -84.0 38

39 Discrepancy 4.9 2.1 -24.6 -26.3 -95.2 53.4 87.1 75.8 -45.7 79.2 39

 Memo:

40 Consumer leases not included above (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 40

(1) U.S.-chartered depository institutions (F.110), foreign banking offices (F.111), banks in U.S.-affiliated areas (F.112), and credit unions (F.113).

(2) Net capital transfers paid from table F.9, line 54.

(3) Receivables from operating leases, such as consumer automobile leases, are booked as current income when payments are received and are not included in financial assets (or household liabilities).

 The leased automobile is a nonfinancial asset; depreciation flows are included in line 1, and fixed investment flows are included in line 2.
FFA, 1995-2004, December 6, 2012 19

F.110 U.S.-Chartered Depository Institutions, Excluding Credit Unions

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Gross saving less net capital transfers paid (1) 17.3 -7.8 5.8 5.5 1.9 22.1 36.3 28.7 20.8 9.6 1

 2 Fixed nonresidential investment 15.1 18.9 21.3 18.5 16.4 11.6 6.9 3.3 4.1 5.4 2

 3 Net acquisition of financial assets 146.0 164.0 343.3 317.2 445.4 410.7 281.0 574.3 554.1 865.5 3

 4 Vault cash 2.4 4.6 -0.2 -2.9 24.5 -22.2 2.9 0.5 0.1 -6.4 4

 5 Reserves at Federal Reserve -1.1 -5.4 4.5 -2.6 -2.7 -4.0 -1.7 4.5 0.9 1.1 5

 6 Credit market instruments 173.8 138.1 266.8 338.8 401.4 388.3 234.8 423.0 464.3 648.5 6

 7 Open market paper 0.4 0.4 -0.9 -0.1 -0.1 0.2 0.0 0.0 0.0 0.0 7

 8 Treasury securities -49.1 -35.7 -9.0 -46.4 -2.0 -36.4 -28.8 27.7 10.1 -23.1 8

 9 Agency- and GSE-backed securities 28.0 6.8 59.6 70.2 32.8 11.5 94.7 135.9 107.7 7.3 9

10 Residential mortgage pass-through securities 13.9 14.4 27.4 46.9 -19.3 7.4 59.5 101.3 37.7 91.2 10

11 Commercial mortgage pass-through securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

12 Residential CMOs and other structured MBS -18.4 -11.5 17.5 8.9 5.0 -9.8 57.2 -9.2 26.8 -50.1 12

13 Commercial CMOs and other structured MBS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

14 Other 32.5 3.9 14.7 14.3 47.2 13.9 -21.9 43.7 43.3 -33.8 14

15 Municipal securities -4.3 1.1 2.5 8.6 6.3 3.4 7.9 2.5 11.8 9.1 15

16 Corporate and foreign bonds -5.3 -14.7 7.9 60.2 61.1 47.6 38.1 -4.8 33.5 46.1 16

17 Private residential mortgage pass-through securities -3.6 -4.0 -7.1 -0.9 5.7 0.3 15.4 -15.9 0.3 4.2 17

18 Private commercial mortgage pass-through securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

19 Private residential CMOs and other structured MBS 3.5 -3.1 0.7 20.3 6.0 7.7 2.8 8.1 30.9 4.4 19

20 Private commercial CMOs and other structured MBS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

21 Other -5.2 -7.5 14.4 40.8 49.3 39.6 20.0 3.0 2.2 37.5 21

22 Depository institution loans n.e.c. 74.3 59.8 107.8 140.7 115.4 99.8 -59.5 -59.0 -45.0 40.4 22

23 Other loans and advances 2.4 1.6 -0.2 -4.6 -2.5 -0.7 -2.3 0.3 -0.2 -0.5 23

24 Mortgages 82.3 89.1 109.0 108.0 185.2 216.5 160.8 288.6 284.4 520.8 24

25 Consumer credit 45.2 29.7 -9.9 2.1 5.1 46.4 23.7 31.7 62.0 48.3 25

26 Corporate equities 2.8 2.4 0.8 2.8 1.3 0.7 3.4 1.3 1.4 -1.4 26

27 Mutual fund shares 0.3 0.3 0.8 -0.4 2.3 2.5 7.8 1.7 -6.2 -0.9 27

28 Security credit 8.3 -4.8 4.2 11.9 -8.8 7.1 7.2 -2.7 12.2 10.7 28

29 Life insurance reserves 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

30 Miscellaneous assets -40.5 28.8 66.5 -30.4 27.4 38.2 26.6 145.9 81.4 213.9 30

31 Net increase in liabilities 147.5 191.5 335.0 304.2 363.8 455.3 337.7 624.9 491.1 938.4 31

32 Net interbank liabilities -6.2 -45.0 3.3 30.2 44.7 47.5 -16.0 54.1 46.9 66.4 32

33 Federal Reserve float 0.8 4.2 -3.6 0.9 -1.9 1.1 -0.9 0.4 -0.7 1.2 33

34 Borrowing from Federal Reserve banks -0.1 -0.1 2.0 -2.0 0.2 -0.1 -0.1 0.0 0.0 -0.0 34

35 To domestic banking -6.7 -12.9 -7.6 7.2 -3.3 1.1 -1.4 17.8 1.4 9.4 35

36 To foreign banks -0.2 -36.3 12.6 24.0 49.7 45.4 -13.6 35.9 46.2 55.8 36

37 Checkable deposits -47.9 -35.7 -26.4 -35.3 0.9 -83.7 56.2 -53.7 38.5 39.2 37

38 Federal government -4.7 9.7 -0.9 -14.6 36.4 -33.2 -0.4 -16.4 -0.9 -3.2 38

39 Rest of the world 1.0 3.5 4.4 -2.8 -0.5 2.4 -2.5 -0.3 4.3 9.7 39

40 Private domestic -44.2 -48.8 -29.9 -17.9 -35.0 -52.9 59.1 -37.0 35.1 32.8 40

41 Small time and savings deposits 100.5 111.3 111.9 169.0 72.6 217.0 257.0 294.5 276.8 265.2 41

42 Large time deposits 51.7 55.8 74.9 50.5 70.0 107.8 1.6 68.4 35.2 169.5 42

43 Federal funds and security RPs (net) 14.9 25.6 42.4 23.7 113.0 -35.0 -11.3 28.1 69.7 20.1 43

44 Credit market instruments 8.6 35.8 45.8 94.7 105.4 56.6 26.6 2.3 32.4 81.2 44

45 Open market paper 2.3 1.7 -0.3 -4.6 -2.5 -0.6 -2.3 0.3 -0.2 -0.4 45

46 Corporate bonds 2.7 7.3 10.8 10.3 3.8 14.1 5.7 -0.8 6.5 12.9 46

47 Other loans and advances 3.6 26.8 35.2 89.0 104.2 43.2 23.3 2.8 26.1 68.8 47

48 Corporate equity issues 2.6 3.2 3.2 3.8 3.8 4.4 8.2 5.5 9.1 5.6 48

49 Taxes payable (net) 5.1 2.0 5.3 3.1 2.0 9.7 3.8 10.0 1.7 -0.5 49

50 Miscellaneous liabilities 18.2 38.4 74.7 -35.4 -48.8 131.1 11.6 215.8 -19.3 291.5 50

51 Investment by holding companies 38.9 33.7 31.3 61.2 24.4 94.8 60.3 66.5 19.8 219.1 51

52 Other -20.7 4.7 43.4 -96.5 -73.2 36.3 -48.8 149.2 -39.1 72.4 52

53 Discrepancy 3.7 0.7 -23.8 -25.9 -96.1 55.1 86.1 76.1 -46.3 77.1 53

 Memo:

54 Consumer leases not included above (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 54

(1) Net capital transfers paid from table F.9, line 54.

(2) Receivables from operating leases, such as consumer automobile leases, are booked as current income when payments are received and are not included in financial assets (or household liabilities).

 The leased automobile is a nonfinancial asset; depreciation flows are included in line 1, and fixed investment flows are included in line 2.
20 FFA, 1995-2004, December 6, 2012

F.111 Foreign Banking Offices in U.S. (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Gross saving 2.1 2.1 2.3 2.4 2.7 3.0 3.0 3.1 3.2 3.4 1

 2 Fixed nonresidential investment 2.0 2.6 3.1 3.6 3.7 3.7 3.7 3.5 3.8 4.1 2

 3 Net acquisition of financial assets 77.8 50.0 98.3 -2.7 -53.0 41.4 6.4 12.3 -46.0 -113.2 3

 4 Reserves at Federal Reserve -0.1 0.3 1.8 -1.9 0.4 -1.0 0.2 0.6 -0.4 -0.1 4

 5 Credit market instruments 75.3 63.4 40.2 -11.6 -17.0 23.9 -0.5 6.2 -38.5 22.2 5

 6 Open market paper -0.4 0.5 -0.2 -0.1 0.4 -0.1 0.0 0.0 0.0 0.0 6

 7 Treasury securities 29.6 18.4 14.4 -10.3 9.7 -0.5 9.8 12.9 -7.3 -5.7 7

 8 Agency- and GSE-backed securities 14.3 12.4 12.5 5.2 4.9 0.4 -22.0 10.9 -6.3 -1.4 8

 9 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

10 Corporate and foreign bonds 4.6 3.2 3.1 5.6 -4.6 8.3 30.6 0.3 0.2 22.4 10

11 Depository institution loans n.e.c. 35.3 32.4 19.2 -1.7 -22.3 14.6 -19.1 -18.6 -23.6 7.4 11

12 Other loans and advances -2.9 -0.6 -2.5 -4.7 -0.6 -0.0 -0.6 -0.4 -0.0 0.1 12

13 Mortgages -5.1 -2.9 -6.1 -5.7 -4.5 1.2 0.7 1.1 -1.5 -0.6 13

14 Corporate equities 0.0 -0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

15 Security credit -3.7 6.2 17.5 8.4 -9.3 43.2 -7.2 5.5 10.8 -15.8 15

16 Miscellaneous assets 6.3 -19.8 38.8 2.4 -27.2 -24.8 14.0 0.1 -17.9 -119.4 16

17 Net increase in liabilities 78.4 50.6 98.9 -2.0 -52.4 42.0 7.1 12.9 -45.4 -112.6 17

18 Net interbank liabilities 18.7 -2.4 -30.4 -55.0 -45.0 -40.8 -16.1 -42.9 -16.7 -67.2 18

19 To foreign banks 15.1 -11.5 -17.6 -51.7 -51.2 -57.1 -35.3 -32.3 -12.2 -72.6 19

20 To domestic banks 3.5 9.1 -12.7 -3.3 6.3 16.2 19.3 -10.7 -4.5 5.3 20

21 Checkable deposits -0.1 -0.7 0.8 -0.2 0.6 -0.4 0.4 -0.7 1.1 -0.8 21

22 Small time and savings deposits -0.7 0.1 4.4 -3.7 -1.8 -0.4 4.5 -2.3 0.8 -0.7 22

23 Large time deposits 11.0 55.6 44.7 36.3 57.2 3.4 53.3 -25.1 8.5 75.4 23

24 Federal funds and security RPs (net) 1.8 12.0 25.6 19.7 -17.9 52.3 -11.0 39.5 -5.7 -0.2 24

25 Acceptance liabilities -3.1 -0.7 -2.4 -4.8 -0.4 -0.0 -0.9 -0.4 -0.1 0.1 25

26 Miscellaneous liabilities 50.9 -13.3 56.2 5.8 -45.0 27.9 -23.1 44.8 -33.4 -119.2 26

27 Foreign direct investment in U.S. 6.6 -0.1 7.7 5.5 19.5 5.8 6.4 2.1 4.2 17.9 27

28 Investment by funding corporations 6.7 13.7 14.3 11.8 2.5 45.6 -21.9 18.6 7.4 33.0 28

29 Other 37.6 -26.9 34.2 -11.4 -67.0 -23.6 -7.7 24.1 -44.9 -170.1 29

30 Discrepancy 0.7 0.1 -0.2 -0.5 -0.4 -0.1 -0.0 0.2 0.1 -0.1 30

(1) Branches and agencies of foreign banks, Edge Act and Agreement corporations, New York investment companies (through 1996:Q2), and American Express Bank (through 2008:Q4).
FFA, 1995-2004, December 6, 2012 21

F.112 Banks in U.S.-Affiliated Areas (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Gross saving 0.1 0.1 0.1 0.1 0.1 0.2 0.2 0.2 0.2 0.2 1

 2 Fixed nonresidential investment 0.1 0.1 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 2

 3 Net acquisition of financial assets 5.8 1.5 5.5 9.1 3.4 4.6 15.9 -4.7 8.4 14.9 3

 4 Credit market instruments 4.2 0.7 3.7 6.0 4.4 6.7 10.0 1.3 10.6 13.9 4

 5 Treasury securities 0.2 -1.3 0.1 -0.7 -0.7 -1.0 -0.6 0.3 1.0 1.4 5

 6 Agency- and GSE-backed securities 1.3 0.2 2.0 3.9 3.3 4.3 2.5 3.9 4.7 4.7 6

 7 Municipal securities 0.1 -0.1 -0.0 -0.1 0.1 0.1 -0.2 0.0 0.1 -0.2 7

 8 Corporate and foreign bonds -0.1 -0.1 0.1 0.5 -0.5 0.3 0.6 -0.3 0.4 -0.2 8

 9 Depository institution loans n.e.c. 1.8 1.4 0.9 0.9 0.5 1.1 4.5 -4.3 0.3 1.8 9

10 Home mortgages 1.0 0.6 0.1 1.1 0.6 1.0 -0.9 1.5 2.5 3.4 10

11 Commercial mortgages -0.0 -0.1 0.5 0.4 1.2 0.8 4.2 0.2 1.6 3.1 11

12 Miscellaneous assets 1.6 0.8 1.8 3.1 -1.0 -2.1 5.9 -6.0 -2.2 0.9 12

13 Net increase in liabilities 5.5 1.4 5.1 9.4 3.8 3.4 16.4 -5.7 7.5 15.5 13

14 Net interbank liabilities -0.2 0.2 0.1 -0.6 -0.3 0.5 -1.1 0.3 0.0 -1.0 14

15 Checkable deposits 0.2 0.5 0.4 1.2 0.0 -0.1 3.1 -1.1 1.5 1.6 15

16 Small time and savings deposits 1.2 0.2 -0.0 1.0 0.8 1.4 4.6 -1.9 1.3 1.6 16

17 Large time deposits 1.2 0.2 -0.0 1.0 0.8 1.4 4.6 -1.9 1.3 1.6 17

18 Miscellaneous liabilities 3.1 0.4 4.6 6.9 2.4 0.2 5.3 -1.0 3.4 11.8 18

19 Discrepancy -0.3 -0.2 -0.5 0.2 0.3 -1.2 0.5 -1.0 -1.0 0.6 19

(1) Commercial banks and branches of U.S.-chartered depository institutions located in Puerto Rico, the U.S. Virgin Islands, American Samoa, Guam, and other U.S.-affiliated insular areas.

F.113 Credit Unions

Billions of dollars

 1 Gross saving 5.5 6.0 4.9 5.0 5.6 6.5 6.6 8.1 8.4 8.9 1

 2 Fixed nonresidential investment 1.1 1.5 1.8 2.2 2.3 2.4 2.5 2.5 2.9 3.4 2

 3 Net acquisition of financial assets 15.6 25.0 20.4 26.9 10.1 32.6 48.4 56.1 47.7 37.0 3

 4 Reserves at Federal Reserve 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Credit market instruments 16.2 25.5 16.8 18.9 27.5 28.0 41.5 44.2 51.2 39.8 5

 6 Open market paper -1.6 -0.3 -0.1 0.2 1.5 -0.6 1.2 -0.9 -0.8 0.1 6

 7 Treasury securities -3.8 -0.9 -1.8 -2.5 -3.5 -1.4 -0.8 0.1 1.2 0.1 7

 8 Agency- and GSE-backed securities 4.9 4.9 0.4 7.3 2.9 -0.4 19.6 -1.5 15.2 -1.1 8

 9 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22.1 2.3 0.6 9

10 Depository institution loans n.e.c. 0.4 0.4 0.2 0.4 0.4 1.0 0.7 1.9 2.3 4.9 10

11 Home mortgages 4.0 9.1 9.9 10.4 13.8 12.8 15.7 16.3 20.9 25.7 11

12 Consumer credit 12.3 12.2 8.2 3.0 12.5 16.5 5.1 6.2 10.1 9.5 12

13 Mutual fund shares 0.2 -0.3 -0.2 1.2 -1.1 -0.3 1.5 -0.2 0.5 -0.9 13

14 Miscellaneous assets -0.8 -0.2 3.8 6.8 -16.4 4.9 5.4 12.1 -4.1 -1.8 14

15 Net increase in liabilities 11.9 22.0 17.2 24.0 7.8 28.0 44.8 51.0 43.7 33.2 15

16 Net interbank liabilities -1.3 0.6 -1.2 -7.4 -10.5 0.8 -17.5 -3.2 -5.6 2.0 16

17 Shares/deposits 15.4 16.3 20.3 33.6 17.7 22.4 61.1 49.5 45.3 29.5 17

18 Checkable 2.1 1.6 4.1 6.4 2.3 5.9 3.5 5.7 6.0 7.6 18

19 Small time and savings 11.6 12.3 13.2 23.1 12.3 13.0 48.6 35.1 28.5 15.5 19

20 Large time 1.7 2.4 2.9 4.1 3.1 3.5 9.0 8.7 10.8 6.4 20

21 Federal funds and security RPs (net) -0.2 4.9 -2.0 -3.4 -2.4 5.3 1.5 0.8 0.1 -2.6 21

22 Other loans and advances -0.1 0.1 0.1 0.6 2.2 0.0 1.5 2.0 2.2 2.3 22

23 Miscellaneous liabilities -1.9 0.0 0.1 0.5 0.9 -0.4 -1.8 1.9 1.7 1.9 23

24 Discrepancy 0.7 1.4 -0.1 -0.1 1.0 -0.4 0.5 0.4 1.5 1.7 24
22 FFA, 1995-2004, December 6, 2012

F.114 Property-Casualty Insurance Companies

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Gross saving less net capital transfers paid (1) 8.4 9.9 9.5 11.8 11.9 8.6 2.8 20.3 42.4 46.1 1

 2 Fixed nonresidential investment 10.7 8.3 9.0 11.6 13.3 14.5 15.7 15.1 20.2 19.4 2

 3 Net acquisition of financial assets 37.0 16.2 37.1 16.5 -9.7 6.9 13.8 81.9 89.5 81.0 3

 4 Checkable deposits and currency -0.2 -0.9 0.3 -0.2 0.2 -0.6 9.4 12.8 8.6 -8.7 4

 5 Money market fund shares 2.8 -0.7 -0.1 2.6 -5.0 3.5 -3.1 5.0 -0.9 -0.9 5

 6 Security RPs 0.0 0.0 0.0 0.0 0.0 0.0 1.7 0.9 0.6 -1.2 6

 7 Credit market instruments 26.7 21.2 25.0 10.7 -12.3 -2.2 2.2 48.1 75.8 86.0 7

 8 Open market paper 4.1 -1.0 -0.1 3.7 -7.2 5.0 -6.4 3.0 -2.0 -1.4 8

 9 Treasury securities 1.7 -12.9 2.1 -19.6 -11.9 -7.1 -0.3 14.5 14.3 20.3 9

10 Agency- and GSE-backed securities 2.3 2.8 1.7 -1.2 5.9 8.6 10.1 19.0 2.2 -3.3 10

11 Municipal securities 7.0 14.4 2.6 16.5 -9.1 -14.9 -10.3 9.2 41.2 43.6 11

12 Corporate and foreign bonds 12.7 18.3 18.9 11.6 10.0 6.4 8.9 2.4 20.0 26.4 12

13 Commercial mortgages -1.0 -0.4 -0.2 -0.3 -0.0 -0.3 0.2 0.1 0.1 0.3 13

14 Corporate equities -0.9 -7.1 2.6 -5.4 -1.7 0.3 -0.7 -1.6 -3.4 -3.9 14

15 Mutual fund shares 0.3 0.3 0.4 0.3 0.1 0.4 0.4 0.5 0.7 0.5 15

16 Trade receivables 4.4 -0.1 2.7 1.6 2.0 1.0 5.3 4.9 4.5 0.3 16

17 Miscellaneous assets 3.8 3.6 6.1 6.9 7.1 4.4 -1.4 11.2 3.6 9.1 17

18 Net increase in liabilities 21.3 8.1 -2.5 -0.2 6.1 1.6 31.6 49.9 59.6 38.5 18

19 Security RPs 0.0 0.0 0.0 0.0 0.0 0.0 1.7 -0.7 1.2 -1.0 19

20 Corporate equity issues -2.2 -4.8 -13.7 -4.7 -7.8 -4.5 0.5 6.2 4.1 -4.0 20

21 Taxes payable (net) 0.7 0.6 0.5 -1.1 0.1 0.1 0.3 -7.4 4.7 0.5 21

22 Miscellaneous liabilities 22.8 12.3 10.7 5.6 13.8 6.0 29.2 51.8 49.6 43.0 22

23 Discrepancy -18.0 -6.5 -39.1 -16.6 14.3 -11.2 5.0 -26.8 -7.8 -15.8 23

(1) Net capital transfers paid from table F.9, line 51.

F.115 Life Insurance Companies

Billions of dollars

 1 Gross saving -2.2 0.7 -7.1 -7.9 -2.3 -3.3 3.7 8.2 2.9 15.2 1

 2 Fixed nonresidential investment 9.4 7.4 8.0 9.6 10.4 10.8 11.2 10.9 11.6 13.1 2

 3 Net acquisition of financial assets 145.5 125.4 213.7 187.0 169.3 203.5 250.6 279.8 258.2 264.4 3

 4 Checkable deposits and currency -0.5 -0.9 3.8 -2.7 0.0 -0.5 31.9 -1.6 12.0 6.0 4

 5 Money market fund shares 0.1 0.1 0.1 0.1 0.1 0.1 0.1 2.4 0.3 4.6 5

 6 Security RPs 0.0 0.0 0.0 0.0 0.0 0.0 1.3 3.4 -2.5 1.4 6

 7 Credit market instruments 100.0 69.6 104.8 76.9 53.5 57.9 127.6 228.8 178.4 165.2 7

 8 Open market paper -7.3 2.9 17.5 7.5 2.0 -4.5 -19.5 4.0 -17.8 -10.5 8

 9 Treasury securities 1.0 -14.9 1.6 -14.1 -9.3 -4.6 -0.1 31.4 -9.1 1.7 9

10 Agency- and GSE-backed securities 8.7 1.3 -3.0 -9.6 7.0 11.0 18.1 77.4 18.0 8.2 10

11 Municipal securities -0.9 1.5 0.1 1.7 1.7 -1.0 -0.4 1.2 6.2 4.0 11

12 Corporate and foreign bonds 90.7 79.2 85.7 82.6 41.2 47.9 119.5 105.7 170.4 145.9 12

13 Other loans and advances 10.4 4.6 4.3 2.0 -4.8 3.9 2.9 2.2 -0.1 3.5 13

14 Mortgages -2.6 -5.0 -1.3 6.8 15.7 5.2 7.1 7.0 10.9 12.4 14

15 Corporate equities 28.2 44.5 72.0 82.5 116.9 111.3 70.2 52.7 45.5 51.5 15

16 Mutual fund shares 3.9 4.5 7.2 9.4 10.0 5.6 2.1 2.6 0.5 12.8 16

17 Miscellaneous assets 13.7 7.6 25.8 20.9 -11.3 29.1 17.3 -8.5 24.0 22.9 17

18 Net increase in liabilities 118.9 92.1 186.0 173.1 152.9 195.1 248.5 259.7 230.0 228.0 18

19 Security RPs 0.0 0.0 0.0 0.0 0.0 0.0 1.3 12.6 0.8 -1.2 19

20 Corporate equity issues -3.6 -8.8 -4.0 -4.7 -6.0 -0.8 -0.9 -6.5 -3.9 -17.3 20

21 Other loans and advances -0.1 1.1 0.2 0.7 0.7 -0.7 0.6 2.0 2.9 3.0 21

22 Life insurance reserves 44.8 43.8 57.6 46.7 49.4 48.7 75.8 58.5 65.7 32.0 22

23 Pension fund reserves (1) 72.4 36.7 103.9 131.4 102.7 166.6 129.2 149.3 144.2 200.4 23

24 Taxes payable (net) 1.6 0.5 1.4 1.5 0.5 -0.4 -0.4 -7.4 1.9 3.1 24

25 Miscellaneous liabilities 3.7 18.9 27.0 -2.5 5.6 -18.3 42.9 51.1 18.5 7.9 25

26 Discrepancy -38.3 -40.0 -42.8 -31.5 -29.1 -22.5 -9.6 -22.9 -37.0 -34.2 26

(1) Annuity reserves held by life insurance companies, excluding unallocated contracts held by private pension funds, which are included in miscellaneous liabilities (line 25).
FFA, 1995-2004, December 6, 2012 23

F.116 Private Pension Funds (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Gross saving 0.4 0.4 0.3 0.3 1.0 0.3 0.4 0.4 0.3 1.1 1

 2 Fixed nonresidential investment 1.3 1.1 0.8 0.9 2.6 0.8 0.8 0.5 0.4 4.6 2

 3 Net acquisition of financial assets 11.3 9.7 -8.8 45.8 -52.3 -33.1 3.7 28.1 64.9 71.5 3

 4 Checkable deposits and currency 0.8 0.7 1.4 -0.8 1.3 3.3 -0.8 0.3 0.1 0.1 4

 5 Time and savings deposits 8.1 8.9 11.0 29.8 -39.3 -22.9 -36.4 -3.9 3.3 -4.8 5

 6 Money market fund shares 6.3 11.2 13.4 2.3 12.1 4.2 -6.1 9.4 -0.2 0.6 6

 7 Security RPs 0.3 4.9 1.2 1.2 1.9 -5.1 -8.9 0.6 2.0 0.3 7

 8 Credit market instruments 16.9 -6.1 44.5 -7.1 107.2 -125.0 -34.8 -5.4 71.8 1.1 8

 9 Open market paper 0.8 6.0 1.5 3.2 6.0 -6.2 -8.2 3.7 -3.2 1.0 9

10 Treasury securities -0.4 -4.8 2.0 -13.2 16.8 -9.9 -6.4 -1.6 13.3 -3.9 10

11 Agency- and GSE-backed securities 1.6 -11.3 6.1 -17.2 39.6 -32.9 5.1 -19.6 40.6 11.8 11

12 Corporate and foreign bonds 14.0 3.3 34.0 20.4 43.1 -76.3 -23.1 11.6 21.3 -7.5 12

13 Mortgages 0.8 0.7 0.8 -0.2 1.8 0.2 -2.2 0.6 -0.1 -0.2 13

14 Corporate equities -89.4 -91.5 -150.7 -31.5 -180.4 62.8 106.5 -61.5 -2.6 24.7 14

15 Mutual fund shares 68.6 51.6 62.3 57.8 61.9 107.7 40.4 74.2 11.4 84.2 15

16 Miscellaneous assets -0.3 30.0 8.3 -5.9 -17.1 -58.1 -56.3 14.3 -20.9 -34.7 16

17 Unallocated insurance contracts (2) -12.1 4.8 -9.9 -23.6 -18.5 -35.7 11.8 12.2 -18.1 -35.2 17

18 Contributions receivable 5.4 5.4 8.4 12.9 -18.4 -19.1 -24.6 1.5 -0.2 -3.1 18

19 Other 6.3 19.8 9.8 4.8 19.8 -3.4 -43.5 0.6 -2.7 3.6 19

20 Pension fund reserves (liabilities) (3) 12.1 10.4 -8.3 46.3 -50.7 -32.6 4.1 28.2 65.0 75.1 20

 Memo:

 Net acquisition of financial assets (4)

21 Defined benefit plans -26.4 -35.9 -43.2 -46.5 -66.6 -75.3 -63.2 -34.6 -13.2 -37.1 21

22 Defined contibution plans 37.7 45.6 34.4 92.3 14.2 42.3 66.9 62.8 78.1 108.6 22

(1) Private defined benefit plans and defined contribution plans (including 401(k) type plans).

(2) Assets of private pension plans held at life insurance companies (e.g., GICs, variable annuities); series begins 1985:Q4.

(3) Equal to the net acquisition of nonfinancial and financial assets less gross saving (line 2 + line 3 - line 1). These liabilities are assets of the household sector.

(4) Additional detail on defined benefit plans and defined contribution plans is available on F.116.b and F.116.c.
24 FFA, 1995-2004, December 6, 2012

F.117 State and Local Government Employee Retirement Funds

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Gross saving 0.3 0.3 0.2 0.2 0.6 0.4 0.4 0.4 0.4 1.1 1

 2 Fixed nonresidential investment 0.9 0.7 0.6 0.6 1.6 0.8 0.8 0.5 0.5 5.0 2

 3 Net acquisition of financial assets 64.2 49.2 78.3 60.7 46.4 100.4 86.9 51.7 39.9 23.8 3

 4 Checkable deposits and currency -2.5 3.3 -2.2 4.7 -0.7 0.7 1.5 1.5 0.8 2.5 4

 5 Time and savings deposits 2.0 -2.2 0.1 -0.4 -0.3 -0.1 0.2 -0.1 -0.9 0.6 5

 6 Money market fund shares 0.9 1.7 2.1 0.3 1.8 1.4 2.2 0.1 -2.1 -1.9 6

 7 Security RPs 3.7 -3.3 0.4 8.9 2.8 -0.5 -5.9 -6.9 -3.6 -3.2 7

 8 Credit market instruments 31.1 28.6 59.9 63.2 45.5 36.3 -53.8 -50.7 18.8 17.8 8

 9 Open market paper 3.7 -3.3 0.4 8.9 2.8 6.9 4.0 -3.2 -6.4 -6.5 9

10 Treasury securities -7.4 4.6 6.2 -6.4 -13.8 -19.8 -24.0 3.8 -10.3 2.4 10

11 Agency- and GSE-backed securities 23.2 5.5 18.4 19.1 22.9 49.9 1.9 11.8 42.5 23.7 11

12 Municipal securities 0.7 -1.3 0.9 1.7 -0.2 -1.3 -0.1 -0.8 3.5 -2.6 12

13 Corporate and foreign bonds 10.1 22.2 33.1 35.1 30.4 4.2 -34.6 -62.4 -9.9 6.0 13

14 Mortgages 0.7 0.8 0.9 4.8 3.3 -3.6 -1.1 0.1 -0.7 -5.3 14

15 Corporate equities 18.2 18.2 9.4 -28.2 -6.2 11.6 115.1 85.2 35.4 1.9 15

16 Mutual fund shares 10.7 2.2 8.5 12.0 2.1 49.9 25.8 22.2 -9.5 1.5 16

17 Miscellaneous assets 0.2 0.7 0.1 0.2 1.3 1.1 1.8 0.4 0.9 4.6 17

18 Pension fund reserves (liabilities) (1) 64.8 49.6 78.7 61.1 47.4 100.8 87.3 51.8 40.0 27.6 18

(1) Equal to the net acquisition of nonfinancial and financial assets less gross saving (line 2 + line 3 - line 1). These liabilities are assets of the household sector.

F.118 Federal Government Retirement Funds (1)

Billions of dollars

 1 Net acquisition of financial assets 26.9 61.6 46.5 47.9 48.5 28.2 69.9 45.4 48.2 54.7 1

 2 Credit market instruments 3.4 2.4 1.8 2.7 2.9 2.1 9.7 13.2 6.8 5.2 2

 3 Treasury securities 3.2 2.2 1.7 2.3 2.9 2.0 7.2 9.8 5.2 4.8 3

 4 Agency- and GSE-backed securities 0.1 0.1 0.1 0.2 -0.0 0.1 1.6 2.1 0.9 0.1 4

 5 Corporate and foreign bonds 0.1 0.1 0.0 0.1 -0.0 0.0 0.9 1.3 0.7 0.3 5

 6 Corporate equities 2.6 4.2 4.4 4.0 4.4 5.2 -0.6 7.7 16.7 8.6 6

 7 Miscellaneous assets(2) 20.8 55.1 40.3 41.2 41.1 20.9 60.8 24.5 24.7 40.9 7

 8 Pension fund reserves (liabilities) (3) 26.9 61.6 46.5 47.9 48.5 28.2 69.9 45.4 48.2 54.7 8

(1) Includes the Thrift Savings Plan, the National Railroad Retirement Investment Trust, and nonmarketable government securities held by federal government retirement funds.

(2) Includes nonmarketable government securities held by the civil service retirement and disability fund, Railroad Retirement Board, judicial retirement fund, military

 retirement fund, and foreign service retirement and disability fund.

(3) Liabilities of the sector are assets of the household sector.
FFA, 1995-2004, December 6, 2012 25

F.119 Money Market Mutual Funds (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Net acquisition of financial assets 141.2 145.4 155.9 285.4 251.7 232.5 428.5 -16.7 -207.5 -136.5 1

 2 Foreign deposits 4.0 3.4 0.1 6.9 11.0 50.3 27.8 -6.8 -36.6 7.0 2

 3 Checkable deposits and currency -1.0 2.4 2.6 -2.5 -2.3 4.7 3.9 -6.8 -0.7 2.7 3

 4 Time and savings deposits 20.9 30.4 28.6 12.6 31.5 -11.7 89.3 -23.9 -53.3 0.4 4

 5 Security RPs 19.0 16.0 22.8 12.2 1.7 43.5 43.4 47.1 -20.8 -18.7 5

 6 Credit market instruments 86.5 88.8 87.5 248.6 184.9 138.3 267.3 -17.7 -95.9 -124.9 6

 7 Open market paper 48.4 38.4 62.1 79.1 110.2 96.7 3.4 -38.6 -125.2 -54.1 7

 8 Treasury securities 3.8 20.3 -4.0 21.7 -4.0 -12.9 46.0 4.7 -10.2 -33.9 8

 9 Agency- and GSE-backed securities 13.7 11.0 -5.5 76.1 18.6 -7.0 141.5 8.7 -4.6 -61.1 9

10 Municipal securities 14.3 16.8 22.5 25.8 17.6 34.1 34.2 1.8 13.6 21.8 10

11 Corporate and foreign bonds 6.4 2.4 12.5 45.8 42.6 27.3 42.3 5.6 30.5 2.3 11

12 Miscellaneous assets 11.6 4.4 14.3 7.6 24.9 7.5 -3.3 -8.6 -0.2 -2.9 12

13 Net share issues (liabilities) 141.2 145.4 155.9 285.4 251.7 232.5 428.5 -16.7 -207.5 -136.5 13

(1) Open-end investment companies; excludes funding vehicles for variable annuities, which are included in the life insurance companies sector (table F.115).

F.120 Mutual Funds (1)

Billions of dollars

 1 Gross saving 8.7 4.9 6.2 -9.1 4.1 -1.5 -6.6 -21.4 2.5 3.6 1

 2 Net acquisition of financial assets 147.4 237.6 265.1 279.5 191.2 237.6 204.9 181.1 288.6 298.2 2

 3 Security RPs 7.1 -2.7 10.3 13.1 9.9 18.8 -28.9 10.9 12.9 18.1 3

 4 Credit market instruments 52.5 48.9 80.9 127.3 48.4 26.3 126.6 138.7 138.0 116.6 4

 5 Open market paper 7.1 -3.1 10.6 13.1 9.9 18.8 -28.9 -7.7 13.1 18.0 5

 6 Treasury securities 13.4 -18.0 10.6 4.6 -23.7 10.2 -9.8 17.2 9.3 4.8 6

 7 Agency- and GSE-backed securities 5.5 33.1 8.9 21.6 36.2 12.6 84.7 54.0 25.2 15.2 7

 8 Municipal securities 3.2 3.1 6.5 22.8 -3.2 -9.0 22.6 24.3 12.9 4.1 8

 9 Corporate and foreign bonds 23.1 33.0 40.9 62.5 26.3 -10.6 65.4 50.4 78.5 64.9 9

10 Other loans and advances 0.2 0.8 3.4 2.7 2.9 4.3 -7.3 0.5 -1.1 9.6 10

11 Corporate equities 87.4 193.0 166.8 143.3 136.4 193.1 109.8 31.4 136.8 158.5 11

12 Miscellaneous assets 0.5 -1.7 7.1 -4.2 -3.5 -0.6 -2.6 0.0 1.0 5.1 12

13 Net share issues (liabilities) 147.4 237.6 265.1 279.5 191.2 237.6 204.9 181.1 288.6 298.2 13

14 Discrepancy 8.7 4.9 6.2 -9.1 4.1 -1.5 -6.6 -21.4 2.5 3.6 14

(1) Open-end investment companies; excludes funding vehicles for variable annuities, which are included in the life insurance companies sector (table F.115).

F.121 Closed-End and Exchange-Traded Funds

Billions of dollars

 Closed-end funds

 1 Net acquisition of financial assets 8.0 0.3 -11.2 -6.8 -4.9 -5.5 1.9 18.0 43.6 32.7 1

 2 Credit market instruments 8.5 2.9 -1.1 4.9 9.6 -5.6 3.2 8.6 35.5 11.0 2

 3 Treasury securities -1.7 0.1 -1.4 -1.0 -1.2 -0.9 0.1 -2.8 0.6 2.3 3

 4 Municipal securities 4.8 1.0 0.3 1.3 9.0 -2.0 7.0 11.3 3.2 -0.1 4

 5 Corporate and foreign bonds 5.4 1.9 -0.0 4.7 1.8 -2.7 -3.8 0.1 31.6 8.9 5

 6 Corporate equities -0.5 -2.6 -10.0 -11.8 -14.5 0.1 -1.3 9.3 8.2 21.7 6

 7 Net share issues (liabilities) 8.0 0.3 -11.2 -6.8 -4.9 -5.5 1.9 18.0 43.6 32.7 7

 Exchange-traded funds

 8 Net acquisition of financial assets 0.4 1.1 3.4 6.0 12.2 42.4 31.0 45.3 15.8 56.4 8

 9 Credit market instruments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3.7 0.7 3.8 9

10 Treasury securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2.0 0.1 2.8 10

11 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

12 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.8 0.6 1.0 12

13 Corporate equities 0.4 1.1 3.4 6.0 12.2 42.4 31.0 41.6 15.1 52.6 13

14 Net share issues (liabilities) 0.4 1.1 3.4 6.0 12.2 42.4 31.0 45.3 15.8 56.4 14
26 FFA, 1995-2004, December 6, 2012

F.122 Government-Sponsored Enterprises (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Gross saving 1.8 1.8 2.0 2.1 2.8 2.7 2.8 2.8 3.4 3.8 1

 2 Fixed nonresidential investment 0.4 0.6 0.5 0.5 0.4 0.4 0.4 0.5 0.5 0.7 2

 3 Net acquisition of financial assets 115.1 91.7 111.6 305.0 317.4 237.8 344.4 239.9 245.1 88.5 3

 4 Checkable deposits and currency 0.2 -0.7 1.3 2.9 7.2 -7.7 2.3 8.1 14.0 10.4 4

 5 Time and savings deposits 0.0 0.0 0.0 -1.7 5.2 0.5 8.1 -5.1 -8.5 6.5 5

 6 Federal funds and security RPs (net) 20.5 -11.8 -4.1 -13.4 12.7 3.0 23.8 -9.1 -20.0 18.3 6

 7 Credit market instruments 95.3 97.3 106.7 317.3 287.3 246.0 304.7 224.0 241.1 48.9 7

 8 Open market paper -0.8 9.6 -1.1 28.6 -32.4 10.7 2.7 -23.5 -3.7 -0.9 8

 9 Treasury securities 6.1 -12.9 7.1 -0.7 5.8 0.6 0.4 12.1 -12.3 -0.6 9

10 Agency- and GSE-backed securities 60.0 65.8 67.6 158.4 172.9 149.2 206.9 131.7 101.9 -202.4 10

11 Municipal securities 2.7 4.3 0.5 6.5 3.6 2.9 6.2 4.0 5.0 0.3 11

12 Corporate and foreign bonds 9.9 8.1 6.0 24.6 28.8 19.1 24.6 33.5 33.5 192.0 12

13 Other loans and advances 7.2 29.4 35.4 93.5 108.1 45.3 28.3 8.9 31.1 73.5 13

14 Sallie Mae -3.1 -1.1 -1.0 -0.3 -0.3 0.1 -0.0 -0.4 -0.1 -0.3 14

15 Farm Credit System 3.9 1.4 0.0 3.3 0.9 3.1 2.9 2.0 0.0 -0.2 15

16 FHLB loans 6.4 29.1 36.4 90.4 107.6 42.1 25.4 7.2 31.2 74.1 16

17 Mortgages 6.3 -6.4 -4.7 7.6 -5.0 22.2 33.2 59.8 101.7 7.5 17

18 Home 5.4 -6.6 -4.7 5.6 -10.4 16.1 21.7 45.6 94.2 -10.5 18

19 Consolidated trusts (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

20 Other 5.4 -6.6 -4.7 5.6 -10.4 16.1 21.7 45.6 94.2 -10.5 20

21 Multifamily residential 0.5 -0.8 -1.5 -0.0 4.3 4.5 8.2 8.5 12.1 14.3 21

22 Consolidated trusts (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

23 Other 0.5 -0.8 -1.5 -0.0 4.3 4.5 8.2 8.5 12.1 14.3 23

24 Farm 0.3 1.0 1.5 2.0 1.1 1.6 3.3 5.7 -4.6 3.8 24

25 Consumer credit (3) 4.0 -0.6 -4.2 -1.2 5.4 -3.9 2.4 -2.6 -16.3 -20.6 25

26 Miscellaneous assets -0.9 6.9 7.6 -0.1 5.0 -4.0 5.5 22.0 18.5 4.5 26

27 Net increase in liabilities 111.3 90.6 106.6 302.5 317.3 234.7 356.9 259.8 215.7 76.4 27

28 Credit market instruments 106.0 90.4 99.1 278.9 318.8 235.2 304.1 219.8 250.9 75.0 28

29 GSE issues (4) 106.0 90.4 99.1 278.9 318.8 235.2 304.1 219.8 250.9 75.0 29

30 Consolidated trusts (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 30

31 Other 106.0 90.4 99.1 278.9 318.8 235.2 304.1 219.8 250.9 75.0 31

32 U.S. government loans 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 32

33 Corporate equities -0.6 -0.4 -1.4 2.6 4.0 -0.3 1.6 -0.2 1.7 9.3 33

34 Miscellaneous liabilities 6.0 0.6 8.9 21.0 -5.5 -0.1 51.1 40.2 -36.9 -7.9 34

35 Discrepancy -2.4 0.1 -3.4 -0.8 2.3 -0.8 14.9 22.2 -26.5 -9.0 35

(1) Federal Home Loan Banks, Fannie Mae, Freddie Mac, Farmer Mac, Farm Credit System, the Financing Corporation, and the Resolution Funding Corporation. The Student Loan Marketing

 Association (Sallie Mae) was included until it was fully privatized in 2004:Q4. Beginning 2010:Q1, almost all Fannie Mae and Freddie Mac mortgage pools (table F.123) are consolidated on

 Fannie Mae’s and Freddie Mac’s balance sheets.

(2) Consolidated trusts refers to the unpaid balance of securitized mortgages Fannie Mae and Freddie Mac moved on to their balance sheets at the beginning of 2010 in response to new accounting rules.

(3) Sallie Mae student loans.

(4) Such issues are classified as agency- and GSE-backed securities.

F.123 Agency- and GSE-Backed Mortgage Pools (1)

Billions of dollars

 1 Net acquisition of financial assets 98.3 141.0 114.6 192.7 274.6 199.7 338.5 326.8 335.4 40.8 1

 2 Home mortgages 93.8 135.4 109.3 182.1 264.6 190.9 322.9 315.2 308.3 43.8 2

 3 Multifamily residential mortgages 4.5 5.6 5.3 10.5 9.2 8.5 15.6 12.9 26.5 -3.0 3

 4 Commercial mortgages -0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Farm mortgages 0.1 -0.0 0.0 0.1 0.8 0.3 0.0 -1.3 0.6 -0.1 5

 6 Net increase in pool securities (liabilities)(2) 98.3 141.0 114.6 192.7 274.6 199.7 338.5 326.8 335.4 40.8 6

(1) GNMA, Fannie Mae, Freddie Mac, Farmer Mac, and Farmers Home Administration pools. Beginning 2010:Q1, almost all Fannie Mae and Freddie Mac mortgage pools are consolidated on

 Fannie Mae’s and Freddie Mac’s balance sheets (table F.122). Also includes agency- and GSE-backed mortgage pool securities that are used as collateral for agency- and GSE-backed CMOs

 and privately issued CMOs. Excludes Federal Financing Bank holdings of pool securities, which are included with federal government mortgages and other loans.

(2) Such issues are classified as agency- and GSE-backed securities.
FFA, 1995-2004, December 6, 2012 27

F.124 Issuers of Asset-Backed Securities (ABS)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Gross saving 0.5 1.4 2.1 2.6 2.3 1.6 1.4 1.2 1.1 1.0 1

 2 Fixed nonresidential investment 1.8 6.7 4.2 4.4 -0.6 -1.6 1.7 0.1 0.9 0.2 2

 3 Net acquisition of financial assets 126.5 109.4 135.2 256.3 156.8 172.4 261.5 229.6 250.0 440.3 3

 4 Treasury securities 0.0 0.0 0.0 0.0 0.0 0.1 0.4 0.4 1.9 5.2 4

 5 Agency- and GSE-backed securities (1) 20.8 -4.6 -20.7 24.7 41.0 8.6 35.0 75.1 82.5 -11.1 5

 6 Other loans and advances 6.0 8.3 26.3 25.7 -0.1 14.1 23.5 16.2 5.3 18.9 6

 7 Mortgages (2) 16.8 36.1 61.8 128.4 70.9 65.8 120.7 110.9 173.1 440.2 7

 8 Home 10.8 21.6 38.4 68.1 31.9 31.7 77.8 80.3 122.9 388.6 8

 9 Multifamily residential 2.1 3.8 4.5 12.9 8.5 5.3 5.9 5.5 8.1 6.5 9

10 Commercial 4.0 10.7 18.9 47.5 30.5 28.7 37.0 25.1 42.1 45.2 10

11 Consumer credit 67.0 60.4 47.0 73.5 62.7 67.7 69.4 32.6 -21.6 -23.2 11

12 Trade credit 15.8 9.1 20.9 4.0 -17.8 16.1 12.6 -5.6 8.8 10.3 12

13 Net increase in liabilities 127.8 114.6 137.3 258.1 153.8 169.2 261.8 228.5 249.8 439.6 13

14 Commercial paper 37.3 45.4 89.4 125.7 139.0 125.0 84.9 -41.7 -36.0 -3.9 14

15 Corporate bonds (net) (3) 90.5 69.2 48.0 132.4 14.8 44.2 176.9 270.3 285.9 443.5 15

16 Discrepancy 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 Memo:

 Securitized assets not included above

17 Consumer leases (4) 1.3 5.3 2.1 1.8 -2.9 -3.2 0.3 -1.1 -0.2 -0.7 17

18 REIT assets (5) -1.3 -0.3 3.7 2.9 -2.4 -1.5 -3.3 8.0 15.6 59.6 18

(1) Agency- and GSE-backed mortgage pool securities backing privately issued CMOs.

(2) Mortgages backing privately issued pool securities and privately issued CMOs.

(3) Net issuance less net acquisition of corporate bonds held as assets.

(4) Receivables from operating leases, such as consumer automobile leases, are booked as current income when payments are received and are not included in financial assets (or household liabilities).

 The leased automobile is a nonfinancial asset; depreciation flows are included in line 1, and fixed investment flows are included in line 2.

(5) Included in table F.126.

F.125 Finance Companies (1)

Billions of dollars

 1 Gross saving 24.6 28.6 31.3 35.5 45.0 44.3 65.5 76.6 75.6 69.4 1

 2 Fixed nonresidential investment 27.0 30.7 32.9 42.8 55.2 57.2 48.9 51.9 43.5 52.8 2

 3 Net acquisition of financial assets 69.3 52.5 41.4 60.2 157.2 196.2 91.1 141.6 233.9 178.5 3

 4 Checkable deposits and currency 0.8 2.6 -0.4 1.1 1.5 2.6 -0.7 2.2 1.9 -0.8 4

 5 Time and savings deposits 3.6 2.6 3.7 1.3 7.7 3.9 7.2 4.0 16.4 -1.8 5

 6 Credit market instruments 59.5 42.6 23.7 92.0 133.8 155.3 68.9 121.8 176.2 207.2 6

 7 Corporate and foreign bonds 13.0 15.5 9.7 7.1 27.0 18.8 19.0 18.1 53.3 -7.7 7

 8 Other loans and advances 26.7 3.1 -0.6 36.8 54.2 61.1 -16.0 3.8 -2.3 9.8 8

 9 Mortgages 2.1 21.2 1.9 32.3 34.4 42.6 20.3 72.3 39.7 105.8 9

10 Consumer credit 17.7 2.8 12.6 15.8 18.3 32.8 45.5 27.5 85.5 99.3 10

11 Miscellaneous assets 5.3 4.7 14.4 -34.2 14.1 34.5 15.7 13.6 39.5 -26.1 11

12 Net increase in liabilities 69.3 59.1 29.6 51.3 148.5 221.1 66.0 135.4 239.8 189.4 12

13 Credit market instruments 47.9 54.7 29.3 60.9 75.5 86.3 10.9 66.2 111.1 134.3 13

14 Open market paper -2.9 9.4 24.6 30.7 -2.9 9.7 -77.7 -14.6 -2.7 30.2 14

15 Corporate bonds 52.6 36.8 4.7 24.2 64.7 72.9 68.1 64.0 107.9 74.1 15

16 Depository institution loans n.e.c. -1.7 8.5 -0.0 6.0 13.8 3.6 20.5 16.8 5.8 30.0 16

17 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

18 Taxes payable 0.7 0.8 0.8 0.8 0.8 1.0 1.2 1.4 1.6 1.8 18

19 Miscellaneous liabilities 20.6 3.6 -0.5 -10.5 72.1 133.9 53.9 67.8 127.1 53.2 19

20 Foreign direct investment in U.S. 0.8 1.5 1.2 3.5 6.9 10.9 6.2 0.1 18.8 13.0 20

21 Investment by parent 9.3 3.5 8.6 -9.1 58.5 90.4 17.9 23.1 23.4 54.9 21

22 Other 10.5 -1.4 -10.3 -4.8 6.7 32.5 29.8 44.7 85.0 -14.7 22

23 Discrepancy -2.3 4.4 -13.4 -16.2 -18.9 11.9 -8.6 18.5 38.0 27.5 23

 Memo:

24 Consumer leases not included above (2) 13.4 12.3 5.6 -2.2 6.3 6.6 -2.1 -17.6 -10.7 -4.9 24

(1) Includes retail captive finance companies and mortgage companies.

(2) See footnote (4), table F.124.
28 FFA, 1995-2004, December 6, 2012

F.126 Real Estate Investment Trusts (REITs)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Gross saving 0.6 1.1 3.0 2.7 0.3 -7.8 4.1 1.5 -1.3 -4.6 1

 2 Fixed nonresidential investment 1.6 1.8 2.3 2.9 0.3 3.2 3.3 2.4 2.7 0.3 2

 3 Multifamily residential investment 2.7 4.4 11.3 11.4 1.8 3.8 4.1 4.6 -0.2 5.5 3

 4 Net acquisition of financial assets 2.3 4.9 26.1 6.4 -0.1 -3.3 10.9 24.8 34.4 101.8 4

 5 Checkable deposits and currency 0.0 2.2 1.1 0.8 0.3 -0.0 1.1 -0.1 3.8 3.0 5

 6 Credit market instruments 1.4 4.4 20.2 -5.1 0.9 -5.2 9.1 22.2 26.4 87.6 6

 7 Agency- and GSE-backed securities -0.2 3.2 9.0 -8.1 -1.8 0.6 8.3 11.5 -2.9 15.8 7

 8 Corporate and foreign bonds 0.8 1.4 2.1 -0.4 3.1 0.2 0.4 0.6 8.5 17.1 8

 9 Mortgages 0.8 -0.3 9.1 3.4 -0.4 -6.0 0.4 10.2 20.7 54.7 9

10 Home 1.9 1.1 6.0 0.8 -1.2 -3.5 0.8 10.1 18.5 51.1 10

11 Multifamily residential -0.6 -0.4 0.9 0.1 0.2 -0.6 -0.3 -0.1 0.2 0.1 11

12 Commercial -0.5 -1.0 2.2 2.5 0.6 -2.0 -0.1 0.2 2.0 3.5 12

13 Miscellaneous assets 1.0 -1.7 4.9 10.7 -1.3 1.9 0.6 2.6 4.3 11.1 13

14 Net increase in liabilities 14.7 29.5 92.2 86.4 19.2 4.3 19.1 52.8 52.6 153.0 14

15 Security RPs 1.2 2.8 11.2 -9.8 -0.3 -2.5 9.2 14.6 5.5 28.7 15

16 Credit market instruments 4.5 11.9 39.6 62.7 8.3 2.8 3.8 27.0 32.3 94.6 16

17 Open market paper -0.0 0.0 0.0 0.2 -0.2 0.0 0.0 0.0 0.0 0.0 17

18 Corporate bonds 0.2 1.3 14.8 21.7 8.4 2.9 4.6 14.0 23.8 61.9 18

19 Depository institution loans n.e.c. -1.0 2.7 9.9 16.0 -7.1 -4.8 -3.1 1.8 -0.4 7.2 19

20 Mortgages 5.3 7.9 14.9 24.8 7.2 4.7 2.2 11.2 8.9 25.5 20

21 Corporate equity issues 7.6 12.3 32.5 19.8 6.6 2.2 6.1 8.4 13.3 21.5 21

22 Miscellaneous liabilities 1.4 2.5 8.8 13.6 4.6 1.8 0.1 2.8 1.5 8.3 22

23 Discrepancy 8.7 19.5 55.5 68.3 17.5 -7.3 5.1 22.5 14.5 40.7 23

 Memo:

24 Securitized assets included above -1.3 -0.3 3.7 2.9 -2.4 -1.5 -3.3 8.0 15.6 59.6 24

25 Agency- and GSE-backed securities -2.3 0.3 0.4 0.1 -1.3 -0.2 -3.1 -0.3 0.0 0.0 25

26 Home mortgages 0.9 -0.8 3.1 1.8 -2.0 -0.2 0.1 7.8 15.7 57.9 26

27 Multifamily residential mortgages 0.0 0.3 0.2 0.4 -0.4 -0.2 -0.0 -0.0 -0.0 -0.0 27

28 Commercial mortgages 0.0 0.0 0.0 0.6 1.3 -0.9 -0.2 0.6 -0.1 1.7 28
FFA, 1995-2004, December 6, 2012 29

F.127 Security Brokers and Dealers

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Gross saving 3.6 6.5 9.9 0.8 2.9 -12.9 -8.2 11.0 13.5 22.0 1

 2 Fixed nonresidential investment 8.2 8.4 9.0 12.3 14.3 17.7 17.6 13.7 12.9 15.0 2

 3 Net acquisition of financial assets 113.4 68.2 142.8 142.0 79.8 220.4 244.3 -130.2 277.6 231.9 3

 4 Checkable deposits and currency 1.7 1.9 6.0 3.7 3.3 1.6 16.8 -2.9 2.9 15.7 4

 5 Credit market instruments 90.1 -15.7 14.9 6.8 -34.7 68.9 92.4 28.4 79.6 -29.2 5

 6 Open market paper 10.9 1.6 0.6 3.8 -2.0 13.2 9.0 -4.7 5.9 -1.3 6

 7 Treasury securities 61.0 -31.1 7.5 21.2 -58.4 39.4 13.1 -13.7 41.7 -82.4 7

 8 Agency- and GSE-backed securities 9.0 1.2 -4.8 0.5 15.0 -2.3 14.1 14.1 -8.1 23.5 8

 9 Municipal securities -2.7 -1.9 2.4 -0.1 -1.2 -0.7 7.7 2.0 3.8 7.1 9

10 Corporate and foreign bonds 11.7 13.1 5.7 -17.9 11.9 17.2 47.3 32.1 36.2 18.7 10

11 Other loans and advances 0.3 1.4 3.5 -0.7 0.1 2.1 1.3 -1.3 0.1 5.2 11

12 Corporate equities 7.7 -1.9 2.4 -6.0 7.7 9.6 17.3 3.2 4.1 15.2 12

13 Security credit 3.5 15.8 36.8 21.6 75.2 7.2 -38.8 -48.2 34.3 81.5 13

14 Miscellaneous assets 10.3 68.2 82.8 115.9 28.3 133.0 156.6 -110.8 156.6 148.6 14

15 Net increase in liabilities 102.6 61.6 133.1 135.9 79.9 208.1 246.3 -124.0 256.8 227.1 15

16 Security RPs (net) 79.0 -1.5 22.7 4.6 37.1 56.9 51.0 -9.0 146.2 36.5 16

17 Credit market instruments -5.0 -2.0 8.1 7.2 -17.2 15.6 1.4 -1.7 6.4 15.2 17

18 Corporate bonds -5.0 -2.0 8.1 7.2 -17.2 15.6 1.4 -1.7 6.4 15.2 18

19 Depository institution loans n.e.c. (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

20 Corporate equity issues -8.1 -6.5 -5.9 2.5 7.6 -4.2 6.7 10.2 -8.0 2.6 20

21 Trade payables 1.1 4.0 5.7 -1.0 11.9 5.1 3.3 -1.8 -9.2 7.8 21

22 Security credit 23.1 36.6 74.2 81.6 29.2 138.9 41.9 -38.9 85.7 97.9 22

23 Customer credit balances (HH) 18.6 35.3 52.6 61.2 47.2 88.6 41.9 -41.6 62.7 103.0 23

24 From U.S.-chartered depository institutions 8.3 -4.8 4.2 11.9 -8.8 7.1 7.2 -2.7 12.2 10.7 24

25 From foreign banking offices in U.S. -3.7 6.2 17.5 8.4 -9.3 43.2 -7.2 5.5 10.8 -15.8 25

26 Taxes payable -0.1 0.1 0.1 -0.1 0.9 -0.1 -0.2 -0.5 0.4 0.4 26

27 Miscellaneous liabilities 13.0 30.6 27.2 42.5 9.1 -3.9 145.4 -83.0 38.8 70.8 27

28 Foreign direct investment in U.S. 1.9 3.6 5.9 -0.6 5.2 3.1 5.6 -3.6 2.9 3.1 28

29 Investment by funding corporations 24.4 41.2 38.5 73.7 35.0 3.6 8.2 -2.4 30.4 10.5 29

30 Other -13.3 -14.1 -17.2 -30.6 -31.1 -10.6 131.7 -77.0 5.5 57.2 30

31 Proprietors’ net investment -0.5 0.3 1.1 -1.4 1.2 -0.2 -3.3 0.6 -3.4 -4.2 31

32 Discrepancy -15.4 -8.5 -8.9 -17.6 -11.3 -42.9 -23.8 3.6 -20.2 2.2 32

(1) Loans extended through the Federal Reserve’s Primary Dealer Credit Facility (PDCF) and the Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility (AMLF).
30 FFA, 1995-2004, December 6, 2012

F.128 Holding Companies (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Gross saving 39.5 48.8 51.4 49.3 66.8 65.5 75.3 91.0 93.1 85.4 1

 2 Fixed nonresidential investment 16.2 17.5 17.9 20.4 22.8 23.1 22.7 30.8 30.5 30.0 2

 3 Net acquisition of financial assets 54.7 48.5 64.8 122.9 63.3 105.6 129.3 115.2 171.9 281.1 3

 4 Time and savings deposits -0.1 -0.3 -0.2 0.6 -0.3 -0.1 0.1 1.0 -0.1 0.2 4

 5 Federal funds and security RPs -0.2 0.1 0.6 4.3 1.1 0.1 -0.9 -0.6 0.5 -3.9 5

 6 Credit market instruments -0.3 3.9 5.4 -0.9 6.2 -12.2 4.2 3.1 8.6 -0.0 6

 7 Treasury securities -1.2 0.6 -0.1 -3.1 7.9 -7.9 0.4 0.1 1.4 -0.8 7

 8 Agency- and GSE-backed securities -0.2 0.3 0.6 1.1 -1.3 -0.5 1.4 4.5 0.9 1.9 8

 9 Corporate and foreign bonds 0.6 2.8 5.0 -0.7 1.2 -2.8 2.1 -2.4 1.3 1.3 9

10 Other loans and advances 0.4 0.2 -0.0 1.7 -1.6 -0.9 0.3 0.9 5.0 -2.5 10

11 Life insurance reserves 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

12 Miscellaneous assets 55.3 44.8 58.9 119.0 56.3 117.7 125.9 111.8 162.8 284.8 12

13 Net transactions with depository institution subsidiaries 38.9 33.7 31.3 61.2 24.4 94.8 60.3 66.5 19.8 219.1 13

14 Net transactions with property-casualty insurance co. subs. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

15 Net transactions with life insurance company subsidiaries 0.0 0.0 0.0 0.0 0.0 0.0 -1.4 4.0 3.8 2.5 15

16 Net transactions with finance company subsidiaries 3.4 2.9 3.6 0.9 47.9 25.3 35.7 16.2 20.8 52.3 16

17 Net transactions with broker and dealer subsidiaries 6.5 -10.3 3.5 38.2 -31.0 2.6 -15.8 -22.5 19.7 2.1 17

18 Net transactions with foreign subsidiaries 3.8 4.1 -0.8 -0.6 4.1 -32.5 -3.3 -0.6 44.1 -25.6 18

19 Other 2.6 14.3 21.3 19.4 10.8 27.7 50.3 48.3 54.5 34.4 19

20 Net increase in liabilities 28.9 13.6 27.7 88.8 13.5 59.2 74.7 47.6 105.5 224.9 20

21 Federal funds and security RPs 0.2 0.5 0.6 4.8 1.2 -1.5 -1.0 1.7 1.5 -5.2 21

22 Credit market instruments 13.8 12.6 18.7 34.9 39.2 27.7 17.3 19.6 50.9 55.7 22

23 Commercial paper -1.4 1.9 6.0 7.8 9.1 1.2 -5.1 -2.3 -6.0 10.8 23

24 Corporate bonds 15.8 0.1 13.0 17.1 16.7 22.0 28.7 22.6 41.4 48.7 24

25 Depository institution loans n.e.c. -0.6 10.6 -0.3 10.1 13.4 4.5 -6.3 -0.7 15.5 -3.8 25

26 Corporate equity issues -11.3 -17.5 -30.9 -15.0 -13.8 -16.5 -15.3 -15.4 -9.6 11.7 26

27 Miscellaneous liabilities 26.2 18.0 39.3 64.1 -13.2 49.6 73.6 41.6 62.8 162.7 27

28 Equity, etc. 12.8 -11.2 -12.8 32.9 -40.9 16.8 12.1 -13.1 2.8 144.0 28

29 Other 13.5 29.2 52.1 31.2 27.8 32.8 61.5 54.7 60.0 18.7 29

30 Discrepancy -2.4 -3.6 -3.5 -5.2 -5.8 -4.0 -2.0 -7.5 -3.8 -0.8 30

(1) Parent only bank holding companies and savings and loan holding companies that file the Federal Reserve Board form FR Y-9LP, FR Y-9SP, or FR 2320.
FFA, 1995-2004, December 6, 2012 31

F.129 Funding Corporations (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Net acquisition of financial assets 5.9 145.6 138.3 140.7 273.3 93.4 48.6 -54.0 -18.0 3.6 1

 2 Money market fund shares 1.2 65.6 37.7 95.7 91.4 28.5 154.5 -14.9 -73.3 -114.1 2

 3 Security RPs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Credit market instruments -19.8 14.8 51.3 -2.2 113.5 18.2 -108.0 -77.9 37.2 76.2 4

 5 Open market paper -29.8 0.5 53.6 -7.6 114.8 24.4 -153.7 -62.4 -16.8 91.0 5

 6 Corporate and foreign bonds 9.8 12.8 -3.4 4.5 -3.8 -8.9 45.8 -14.4 54.9 -14.5 6

 7 Other loans and advances 0.2 1.5 1.0 0.9 2.5 2.7 -0.1 -1.2 -0.9 -0.3 7

 8 Corporate equities (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Miscellaneous assets 24.5 65.2 49.4 47.2 68.4 46.7 2.1 38.7 18.2 41.5 9

10 Investment in foreign banking offices 6.7 13.7 14.3 11.8 2.5 45.6 -21.9 18.6 7.4 33.0 10

11 Investment in brokers and dealers 17.8 51.5 35.0 35.5 65.9 1.1 24.0 20.2 10.7 8.4 11

12 Net increase in liabilities 5.9 145.6 138.3 140.7 273.3 93.4 48.6 -54.0 -18.0 3.6 12

13 Credit market instruments 34.9 63.8 79.9 40.0 91.6 -1.6 -103.6 -10.7 -3.2 -2.9 13

14 Open market paper 10.5 34.5 49.4 6.0 34.2 -3.5 -125.8 -41.2 -18.5 -15.2 14

15 Corporate bonds 24.4 29.2 30.6 34.0 57.4 1.9 22.2 30.5 15.4 12.2 15

16 Depository institution loans n.e.c. (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

17 Other loans and advances (4) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

18 Corporate equities (5) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

19 Miscellaneous liabilities -29.0 81.9 58.4 100.8 181.7 95.0 152.2 -43.3 -14.8 6.5 19

20 Foreign direct investment in U.S. -10.2 2.9 -21.6 21.6 51.0 15.1 1.1 -0.4 0.2 0.3 20

21 Securities loaned (net) -5.5 59.9 57.2 70.0 16.3 88.7 70.1 -2.9 102.6 86.9 21

22 Equity interest under PPIP 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

23 Other (net) -13.3 19.0 22.8 9.1 114.4 -8.7 81.0 -40.1 -117.6 -80.7 23

(1) Funding subsidiaries, custodial accounts for reinvested collateral of securities lending operations, Federal Reserve lending facilities,

 and funds associated with the Public-Private Investment Program (PPIP).

(2) Common stock of American International Assurance Company Ltd. (AIA) and American Life Insurance Company (ALICO), two life insurance subsidiaries of AIG.

(3) Loans extended by the Federal Reserve to Maiden Lane LLC, Maiden Lane II LLC, Maiden Lane III LLC, Commercial Paper Funding Facility LLC, and American International Group (AIG).

(4) Loans extended by the federal government to the Term Asset-Backed Securities Loan Facility (TALF) LLC and to funds associated with PPIP.

(5) Preferred shares issued by AIG to the federal goverment under the Troubled Asset Relief Program (TARP) program and the monetary authority sector’s preferred interest in

 AIA Aurora LLC and ALICO Holdings LLC.
32 FFA, 1995-2004, December 6, 2012

F.200 U.S. Official Reserve Assets and SDR Allocations (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Net change in liabilities 9.6 -6.7 1.0 6.8 -8.7 0.3 4.9 3.7 -1.5 -2.8 1

 2 Federal government: SDR allocations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Rest of the world 9.6 -6.7 1.0 6.8 -8.7 0.3 4.9 3.7 -1.5 -2.8 3

 4 SDR holdings 0.8 -0.4 0.4 0.1 -0.0 0.7 0.6 0.5 -0.6 0.4 4

 5 Reserve position in IMF (net) 2.5 1.3 3.6 5.1 -5.5 -2.3 3.6 2.6 -1.5 -3.8 5

 6 Foreign currency holdings 6.3 -7.6 -2.9 1.5 -3.3 1.9 0.7 0.6 0.6 0.6 6

 7 Net change in assets 9.6 -6.7 1.0 6.8 -8.7 0.3 4.9 3.7 -1.5 -2.8 7

 8 Federal government 6.4 -2.9 2.5 6.0 -7.1 -0.7 4.6 3.4 -1.8 -3.1 8

 9 Monetary gold (2) 0.0 0.0 0.0 0.0 -0.0 0.0 0.0 0.0 0.0 -0.0 9

10 SDR holdings 0.8 -0.4 0.4 0.1 -0.0 0.7 0.6 0.5 -0.6 0.4 10

11 Reserve position in IMF (net) 2.5 1.3 3.6 5.1 -5.5 -2.3 3.6 2.6 -1.5 -3.8 11

12 Foreign currency holdings 3.2 -3.8 -1.5 0.8 -1.6 0.9 0.3 0.3 0.3 0.3 12

13 Rest of the world 0.0 0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

14 Monetary gold (2) 0.0 0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

15 SDR allocations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

16 Monetary authority 3.2 -3.8 -1.5 0.8 -1.7 0.9 0.3 0.3 0.3 0.3 16

17 Monetary gold (2) -0.0 -0.0 -0.0 -0.0 0.0 -0.0 -0.0 -0.0 0.0 0.0 17

18 Reserve position in IMF (net) 0.0 0.0 0.0 -0.0 -0.0 0.0 0.0 0.0 -0.0 -0.0 18

19 Foreign currency holdings 3.2 -3.8 -1.5 0.8 -1.6 0.9 0.3 0.3 0.3 0.3 19

(1) Includes federal government liability to IMF for special drawing rights (SDRs) allocations and accrued interest.

(2) By international accounting standards, transactions in monetary gold are recorded in the financial account of the domestic sectors as increases (decreases) in assets,

 and the counterparts are recorded as decreases (increases) in assets of the rest of the world.

F.201 Special Drawing Rights (SDRs) Certificates and Treasury Currency

Billions of dollars

 SDR certificates:

 1 Liab: Federal government 2.2 -0.5 -0.5 0.0 -3.0 -4.0 0.0 0.0 0.0 0.0 1

 2 Asset: Monetary authority 2.2 -0.5 -0.5 0.0 -3.0 -4.0 0.0 0.0 0.0 0.0 2

 Treasury currency:

 3 Liab: Federal government 0.7 0.5 0.5 0.6 1.0 2.4 1.3 1.0 0.6 0.7 3

 4 Asset: Monetary authority 1.0 1.0 0.6 0.7 1.7 3.6 1.4 1.6 0.9 1.0 4

 5 Discrepancy (seigniorage) -0.3 -0.4 -0.1 -0.2 -0.7 -1.2 -0.1 -0.6 -0.3 -0.3 5

F.202 U.S. Deposits in Foreign Countries

Billions of dollars

 1 Total rest of the world liability 35.3 85.9 107.7 9.1 48.9 126.9 6.8 21.0 36.0 89.9 1

 Held by:

 2 Household sector 4.6 12.4 6.5 0.5 2.9 7.6 0.4 1.3 2.2 5.4 2

 3 Nonfinancial corporate business 1.7 10.8 -5.1 7.4 0.9 -7.4 -8.5 5.1 17.6 15.6 3

 4 Money market mutual funds 4.0 3.4 0.1 6.9 11.0 50.3 27.8 -6.8 -36.6 7.0 4

 5 Discrepancy--unallocated assets 25.0 59.4 106.2 -5.7 34.0 76.4 -12.9 21.5 52.8 61.9 5
FFA, 1995-2004, December 6, 2012 33

F.203 Net Interbank Transactions

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Net change in liabilities 12.3 -47.1 -22.1 -40.3 11.2 -19.2 -49.2 13.8 25.2 -5.2 1

 2 Monetary authority 1.3 -0.5 6.1 -7.5 22.2 -27.1 1.4 5.6 0.7 -5.4 2

 3 U.S.-chartered depository institutions -6.2 -45.0 3.3 30.2 44.7 47.5 -16.0 54.1 46.9 66.4 3

 4 Foreign banking offices in U.S. 18.7 -2.4 -30.4 -55.0 -45.0 -40.8 -16.1 -42.9 -16.7 -67.2 4

 5 Banks in U.S.-affiliated areas -0.2 0.2 0.1 -0.6 -0.3 0.5 -1.1 0.3 0.0 -1.0 5

 6 Credit unions -1.3 0.6 -1.2 -7.4 -10.5 0.8 -17.5 -3.2 -5.6 2.0 6

 7 Net change in assets 17.0 -44.1 -0.6 -36.2 19.0 -37.8 -48.5 9.6 33.9 -21.0 7

 8 Rest of the world 15.0 -47.8 -5.1 -27.6 -1.5 -11.7 -48.9 3.6 34.0 -16.8 8

 9 Monetary authority 0.7 4.1 -1.6 -1.1 -1.7 1.0 -1.0 0.4 -0.7 1.2 9

10 U.S.-chartered depository institutions 1.4 -0.7 4.3 -5.6 21.8 -26.2 1.2 4.9 1.0 -5.3 10

11 Foreign banking offices in U.S. -0.1 0.3 1.8 -1.9 0.4 -1.0 0.2 0.6 -0.4 -0.1 11

12 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

13 Discrepancy -4.7 -3.0 -21.5 -4.1 -7.8 18.7 -0.7 4.2 -8.7 15.8 13

 Memo:

 Vault cash:

14 Liab.: Monetary authority 2.4 4.6 -0.2 -2.9 24.5 -22.2 2.9 0.5 0.1 -6.4 14

15 Asset: U.S.-chartered depository institutions 2.4 4.6 -0.2 -2.9 24.5 -22.2 2.9 0.5 0.1 -6.4 15

 Depository institution reserves:

16 Liab.: Monetary authority -1.2 -5.1 6.3 -4.5 -2.3 -5.0 -1.6 5.1 0.5 1.0 16

17 Asset: U.S.-chartered depository institutions -1.1 -5.4 4.5 -2.6 -2.7 -4.0 -1.7 4.5 0.9 1.1 17

18 Foreign banking offices in U.S. -0.1 0.3 1.8 -1.9 0.4 -1.0 0.2 0.6 -0.4 -0.1 18

19 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 Other transactions with the monetary authority

20 Liab: U.S.-chartered depository institutions 0.7 4.1 -1.6 -1.1 -1.7 1.0 -1.0 0.4 -0.7 1.2 20

21 Asset: Monetary authority 0.7 4.1 -1.6 -1.1 -1.7 1.0 -1.0 0.4 -0.7 1.2 21

22 Federal Reserve float 0.8 4.2 -3.6 0.9 -1.9 1.1 -0.9 0.4 -0.7 1.2 22

23 Loans -0.1 -0.1 2.0 -2.0 0.2 -0.1 -0.1 0.0 0.0 -0.0 23

 Transactions with banks in foreign countries (net):

24 Liab.: U.S.-chartered depository institutions (net) -2.7 -31.1 13.6 23.0 48.4 45.8 -12.3 46.1 43.6 60.7 24

25 Due to foreign affiliates -14.7 -1.9 46.3 23.6 30.0 75.2 22.8 -0.9 109.7 33.8 25

26 - Due from foreign affiliates -12.0 29.2 32.7 0.5 -18.4 29.5 35.1 -47.0 66.0 -26.8 26

27 Foreign banking offices in U.S. (net) 17.3 -11.5 -18.5 -55.7 -51.2 -56.5 -35.4 -32.8 -12.2 -72.2 27

28 Due to foreign affiliates 15.5 10.6 -10.7 33.3 14.9 -14.3 29.7 13.0 21.1 77.0 28

29 - Due from foreign affiliates -1.7 22.1 7.8 88.9 66.1 42.2 65.0 45.8 33.3 149.2 29

30 Less: Deposits at foreign banks -0.4 5.2 0.2 -5.0 -1.3 1.0 1.3 9.7 -2.5 5.2 30

31 U.S.-chartered depository institutions -2.5 5.2 1.0 -1.0 -1.3 0.4 1.3 10.2 -2.6 4.9 31

32 Foreign banking offices in U.S. 2.1 -0.0 -0.9 -4.0 -0.0 0.6 -0.0 -0.6 0.0 0.3 32

33 Asset: Rest of the world (1) 15.0 -47.8 -5.1 -27.6 -1.5 -11.7 -48.9 3.6 34.0 -16.8 33

 Transactions between U.S. depository institutions (net) (2):

34 U.S.-chartered depository institutions (net) -6.7 -12.9 -7.6 7.2 -3.3 1.1 -1.4 17.8 1.4 9.4 34

35 Due to (3): -8.0 -6.8 -15.0 6.0 19.3 8.2 2.0 18.7 9.2 33.6 35

36 Foreign banking offices in U.S. -4.8 -3.1 5.4 2.1 16.4 -9.1 -15.8 11.6 12.2 18.8 36

37 Banks in U.S.-affiliated areas 0.2 -0.2 -0.1 0.6 0.3 -0.5 1.1 -0.3 -0.0 1.0 37

38 Credit unions 1.3 -0.6 1.2 7.4 10.5 -0.8 17.5 3.2 5.6 -2.0 38

39 - Due from: Foreign banking offices in U.S. -1.3 6.0 -7.4 -1.3 22.6 7.1 3.4 0.9 7.8 24.2 39

40 Unallocated (2) -4.7 -3.0 -21.5 -4.1 -7.8 18.7 -0.7 4.2 -8.7 15.8 40

(1) Sum of lines 24 and 27 less line 30.

(2) Interbank transactions between U.S. banks should net to zero and thus are not shown in lines 1 through 12 above. However, the unallocated amount (line 40), which is due to inconsistencies

 in source data, appears on line 13 as the discrepancy between liabilities and assets.

(3) Sum of lines 36, 37, 38, and 40.
34 FFA, 1995-2004, December 6, 2012

F.204 Checkable Deposits and Currency

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Net change in liabilities -28.8 -11.0 8.8 11.1 112.0 -113.5 110.6 -7.9 84.5 85.4 1

 2 Monetary authority 16.9 23.3 29.8 39.0 108.2 -35.1 47.4 41.9 37.3 37.7 2

 3 Federal government cash and deposits -1.2 1.7 -2.3 0.5 22.3 -22.9 1.5 -2.3 1.3 0.1 3

 4 Due to government-sponsored enterprises 0.0 -0.0 0.0 0.7 -0.4 0.1 -0.6 0.4 -0.5 0.6 4

 5 Deposits due to foreign 0.1 -0.2 0.3 -0.3 -0.1 0.1 -0.2 0.1 0.0 -0.1 5

 6 Currency outside banks 18.0 21.8 31.9 38.1 86.4 -12.5 46.7 43.7 36.5 37.1 6

 7 U.S.-chartered depository institutions -47.9 -35.7 -26.4 -35.3 0.9 -83.7 56.2 -53.7 38.5 39.2 7

 8 Federal government deposits -4.7 9.7 -0.9 -14.6 36.4 -33.2 -0.4 -16.4 -0.9 -3.2 8

 9 Deposits due to foreign 1.0 3.5 4.4 -2.8 -0.5 2.4 -2.5 -0.3 4.3 9.7 9

10 Private domestic deposits -44.2 -48.8 -29.9 -17.9 -35.0 -52.9 59.1 -37.0 35.1 32.8 10

11 Foreign banking offices in U.S. -0.1 -0.7 0.8 -0.2 0.6 -0.4 0.4 -0.7 1.1 -0.8 11

12 Deposits due to foreign -0.1 -0.7 0.4 -0.3 0.6 -0.3 -2.4 -0.4 -0.4 -0.5 12

13 Private domestic deposits -0.0 -0.0 0.4 0.1 -0.0 -0.1 2.7 -0.3 1.4 -0.3 13

14 Banks in U.S.-affiliated areas 0.2 0.5 0.4 1.2 0.0 -0.1 3.1 -1.1 1.5 1.6 14

15 Credit unions 2.1 1.6 4.1 6.4 2.3 5.9 3.5 5.7 6.0 7.6 15

16 Net change in assets -28.8 -11.0 8.8 11.1 112.0 -113.5 110.6 -7.9 84.5 85.4 16

17 Household sector -49.8 -41.7 -40.9 24.8 -19.7 -103.7 74.9 -15.9 -31.0 -58.2 17

18 Nonfinancial business 18.1 1.5 11.0 -9.8 34.7 43.5 -53.0 -9.6 50.1 109.9 18

19 Corporate 4.6 -17.6 -11.3 -15.9 29.6 35.0 -53.8 -12.3 44.0 3.0 19

20 Noncorporate 13.5 19.2 22.4 6.1 5.1 8.4 0.8 2.7 6.1 106.9 20

21 State and local governments 3.4 -5.5 4.4 -3.9 3.9 0.1 4.0 5.2 7.0 -6.8 21

22 Federal government -0.0 11.0 -0.5 -16.7 66.2 -65.1 41.1 -17.1 9.3 -31.0 22

23 Rest of the world 9.9 16.7 27.5 10.5 24.3 -1.2 18.8 18.3 14.6 22.4 23

24 Checkable deposits 1.1 2.6 5.1 -3.4 -0.1 2.2 -5.0 -0.6 4.0 9.1 24

25 Currency 8.8 14.2 22.4 13.8 24.4 -3.4 23.8 18.9 10.6 13.3 25

26 Financial sectors -0.6 10.6 14.0 6.8 10.9 4.2 65.3 13.5 43.5 30.9 26

27 Property-casualty insurance companies -0.2 -0.9 0.3 -0.2 0.2 -0.6 9.4 12.8 8.6 -8.7 27

28 Life insurance companies -0.5 -0.9 3.8 -2.7 0.0 -0.5 31.9 -1.6 12.0 6.0 28

29 Private pension funds 0.8 0.7 1.4 -0.8 1.3 3.3 -0.8 0.3 0.1 0.1 29

30 State and local govt. retirement funds -2.5 3.3 -2.2 4.7 -0.7 0.7 1.5 1.5 0.8 2.5 30

31 Money market mutual funds -1.0 2.4 2.6 -2.5 -2.3 4.7 3.9 -6.8 -0.7 2.7 31

32 Government-sponsored enterprises 0.2 -0.7 1.3 2.9 7.2 -7.7 2.3 8.1 14.0 10.4 32

33 Finance companies 0.8 2.6 -0.4 1.1 1.5 2.6 -0.7 2.2 1.9 -0.8 33

34 REITs 0.0 2.2 1.1 0.8 0.3 -0.0 1.1 -0.1 3.8 3.0 34

35 Brokers and dealers 1.7 1.9 6.0 3.7 3.3 1.6 16.8 -2.9 2.9 15.7 35

36 Mail float -9.8 -3.6 -6.6 -0.5 -8.2 8.7 -40.5 -2.3 -8.9 18.2 36
FFA, 1995-2004, December 6, 2012 35

F.205 Time and Savings Deposits

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Net change in liabilities 178.3 237.9 252.0 281.1 215.0 347.2 383.1 375.3 363.2 534.4 1

 2 Small time and savings deposits 112.6 123.9 129.5 189.3 83.8 231.0 314.6 325.4 307.4 281.6 2

 3 U.S.-chartered depository institutions 100.5 111.3 111.9 169.0 72.6 217.0 257.0 294.5 276.8 265.2 3

 4 Foreign banking offices in U.S. -0.7 0.1 4.4 -3.7 -1.8 -0.4 4.5 -2.3 0.8 -0.7 4

 5 Banks in U.S.-affiliated areas 1.2 0.2 -0.0 1.0 0.8 1.4 4.6 -1.9 1.3 1.6 5

 6 Credit unions 11.6 12.3 13.2 23.1 12.3 13.0 48.6 35.1 28.5 15.5 6

 7 Large time deposits (1) 65.6 114.0 122.5 91.8 131.1 116.2 68.5 50.0 55.8 252.9 7

 8 U.S.-chartered depository institutions 51.7 55.8 74.9 50.5 70.0 107.8 1.6 68.4 35.2 169.5 8

 9 Foreign banking offices in U.S. 11.0 55.6 44.7 36.3 57.2 3.4 53.3 -25.1 8.5 75.4 9

10 Banks in U.S.-affiliated areas 1.2 0.2 -0.0 1.0 0.8 1.4 4.6 -1.9 1.3 1.6 10

11 Credit unions 1.7 2.4 2.9 4.1 3.1 3.5 9.0 8.7 10.8 6.4 11

12 Net change in assets 178.3 237.9 252.0 281.1 215.0 347.2 383.1 375.3 363.2 534.4 12

13 Household sector 135.8 142.0 143.4 102.0 95.4 279.8 281.8 311.5 289.8 463.2 13

14 Nonfinancial business 7.6 33.5 45.4 69.0 97.3 103.5 15.9 24.6 116.1 24.5 14

15 Corporate 3.3 30.0 34.7 28.2 44.3 35.5 8.8 10.2 71.5 37.7 15

16 Noncorporate 4.3 3.5 10.7 40.7 53.1 68.1 7.1 14.5 44.7 -13.2 16

17 State and local governments 6.6 10.6 5.8 14.8 14.0 10.6 12.0 8.8 20.3 11.6 17

18 Federal government 0.3 1.4 1.0 1.3 0.7 1.0 4.2 17.1 -25.2 -0.0 18

19 Rest of the world -6.6 10.9 13.1 51.9 3.0 -17.3 0.6 41.2 5.2 34.1 19

20 Financial sectors 34.6 39.4 43.3 42.1 4.6 -30.5 68.5 -27.9 -43.1 1.0 20

21 Private pension funds 8.1 8.9 11.0 29.8 -39.3 -22.9 -36.4 -3.9 3.3 -4.8 21

22 State and local govt. retirement funds 2.0 -2.2 0.1 -0.4 -0.3 -0.1 0.2 -0.1 -0.9 0.6 22

23 Money market mutual funds 20.9 30.4 28.6 12.6 31.5 -11.7 89.3 -23.9 -53.3 0.4 23

24 Government-sponsored enterprises 0.0 0.0 0.0 -1.7 5.2 0.5 8.1 -5.1 -8.5 6.5 24

25 Finance companies 3.6 2.6 3.7 1.3 7.7 3.9 7.2 4.0 16.4 -1.8 25

26 Holding companies -0.1 -0.3 -0.2 0.6 -0.3 -0.1 0.1 1.0 -0.1 0.2 26

(1) Large time deposits are those issued in amounts of $100,000 or more.

F.206 Money Market Mutual Fund Shares

Billions of dollars

 1 Net issues 141.2 145.4 155.9 285.4 251.7 232.5 428.5 -16.7 -207.5 -136.5 1

 2 Net purchases 141.2 145.4 155.9 285.4 251.7 232.5 428.5 -16.7 -207.5 -136.5 2

 3 Household sector 99.3 28.5 70.4 100.0 102.8 163.1 163.8 -29.4 -111.5 -56.1 3

 4 Nonfinancial corporate business 22.9 34.7 24.2 42.9 35.1 17.1 100.2 5.7 -30.4 10.3 4

 5 Nonfinancial noncorporate business 1.9 2.2 3.7 9.7 8.1 8.7 9.6 2.3 2.3 2.9 5

 6 State and local governments 4.8 1.4 3.6 31.1 4.5 2.7 3.2 1.6 5.9 14.0 6

 7 Rest of the world 0.8 0.8 0.8 0.8 0.8 3.1 3.9 1.1 2.6 4.1 7

 8 Property-casualty insurance companies 2.8 -0.7 -0.1 2.6 -5.0 3.5 -3.1 5.0 -0.9 -0.9 8

 9 Life insurance companies 0.1 0.1 0.1 0.1 0.1 0.1 0.1 2.4 0.3 4.6 9

10 Private pension funds 6.3 11.2 13.4 2.3 12.1 4.2 -6.1 9.4 -0.2 0.6 10

11 State and local govt. retirement funds 0.9 1.7 2.1 0.3 1.8 1.4 2.2 0.1 -2.1 -1.9 11

12 Funding corporations 1.2 65.6 37.7 95.7 91.4 28.5 154.5 -14.9 -73.3 -114.1 12
36 FFA, 1995-2004, December 6, 2012

F.207 Federal Funds and Security Repurchase Agreements

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Net change in liabilities 96.9 44.3 100.3 39.7 130.8 75.5 41.4 108.7 223.9 80.3 1

 2 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21.1 4.6 5.1 2

 3 Private depository institutions (net) 16.5 42.5 65.9 40.0 92.7 22.6 -20.8 68.3 64.2 17.4 3

 4 U.S.-chartered depository institutions (net) 14.9 25.6 42.4 23.7 113.0 -35.0 -11.3 28.1 69.7 20.1 4

 5 Foreign banking offices in U.S. (net) 1.8 12.0 25.6 19.7 -17.9 52.3 -11.0 39.5 -5.7 -0.2 5

 6 Credit unions (net) -0.2 4.9 -2.0 -3.4 -2.4 5.3 1.5 0.8 0.1 -2.6 6

 7 Property-casualty insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 1.7 -0.7 1.2 -1.0 7

 8 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 1.3 12.6 0.8 -1.2 8

 9 REITs 1.2 2.8 11.2 -9.8 -0.3 -2.5 9.2 14.6 5.5 28.7 9

10 Brokers and dealers (net) 79.0 -1.5 22.7 4.6 37.1 56.9 51.0 -9.0 146.2 36.5 10

11 Holding companies 0.2 0.5 0.6 4.8 1.2 -1.5 -1.0 1.7 1.5 -5.2 11

12 Net change in assets 71.9 47.8 57.6 17.9 147.5 -38.0 -56.7 36.9 63.2 79.4 12

13 Nonfinancial corporate business 0.3 1.5 0.7 -0.4 1.6 -1.6 -0.2 2.2 -0.2 0.4 13

14 State and local governments -3.0 32.1 3.6 4.2 -2.5 -10.3 -10.9 -16.3 3.2 8.3 14

15 Rest of the world (net) 21.0 3.2 20.0 -18.8 8.0 11.4 -78.2 15.5 86.9 70.3 15

16 Monetary authority 3.3 7.7 2.3 6.5 110.3 -97.3 6.9 -10.8 4.3 -10.8 16

17 Property-casualty insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 1.7 0.9 0.6 -1.2 17

18 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 1.3 3.4 -2.5 1.4 18

19 Private pension funds 0.3 4.9 1.2 1.2 1.9 -5.1 -8.9 0.6 2.0 0.3 19

20 State and local govt. retirement funds 3.7 -3.3 0.4 8.9 2.8 -0.5 -5.9 -6.9 -3.6 -3.2 20

21 Money market mutual funds 19.0 16.0 22.8 12.2 1.7 43.5 43.4 47.1 -20.8 -18.7 21

22 Mutual funds 7.1 -2.7 10.3 13.1 9.9 18.8 -28.9 10.9 12.9 18.1 22

23 Government-sponsored enterprises (net) 20.5 -11.8 -4.1 -13.4 12.7 3.0 23.8 -9.1 -20.0 18.3 23

24 Holding companies -0.2 0.1 0.6 4.3 1.1 0.1 -0.9 -0.6 0.5 -3.9 24

25 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

26 Discrepancy--unallocated assets 24.9 -3.4 42.7 21.8 -16.8 113.5 98.1 71.9 160.6 0.9 26
FFA, 1995-2004, December 6, 2012 37

F.208 Open Market Paper

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total net issues, all types 74.3 102.6 184.1 193.1 229.9 211.6 -191.6 -99.1 -82.0 106.2 1

 2 Commercial paper 75.1 101.6 186.8 202.5 232.8 212.2 -188.5 -98.9 -81.7 106.5 2

 3 Nonfinancial corporate business 18.1 -0.9 13.7 24.4 37.4 48.1 -83.1 -57.9 -37.3 15.3 3

 4 Foreign issues in U.S. 13.5 11.3 3.7 7.8 16.3 31.7 18.3 58.8 18.9 69.2 4

 5 Nonfinancial 5.4 -1.9 -2.3 -1.6 8.2 10.9 -16.4 -0.2 -3.8 -2.2 5

 6 Financial 8.1 13.2 6.0 9.4 8.1 20.8 34.7 59.0 22.6 71.5 6

 7 Financial sectors 43.4 91.3 169.4 170.3 179.2 132.4 -123.7 -99.8 -63.3 21.9 7

 8 U.S.-chartered depository institutions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 ABS issuers 37.3 45.4 89.4 125.7 139.0 125.0 84.9 -41.7 -36.0 -3.9 9

10 Finance companies -2.9 9.4 24.6 30.7 -2.9 9.7 -77.7 -14.6 -2.7 30.2 10

11 REITs -0.0 0.0 0.0 0.2 -0.2 0.0 0.0 0.0 0.0 0.0 11

12 Holding companies -1.4 1.9 6.0 7.8 9.1 1.2 -5.1 -2.3 -6.0 10.8 12

13 Funding corporations 10.5 34.5 49.4 6.0 34.2 -3.5 -125.8 -41.2 -18.5 -15.2 13

14 Bankers’ acceptances (1) -0.8 1.0 -2.7 -9.4 -2.9 -0.7 -3.2 -0.2 -0.2 -0.3 14

15 U.S.-chartered depository institutions 2.3 1.7 -0.3 -4.6 -2.5 -0.6 -2.3 0.3 -0.2 -0.4 15

16 Foreign banking offices in U.S. -3.1 -0.7 -2.4 -4.8 -0.4 -0.0 -0.9 -0.4 -0.1 0.1 16

17 Net purchases, by sector 74.3 102.6 184.1 193.1 229.9 211.6 -191.6 -99.1 -82.0 106.2 17

18 Household sector 2.0 4.1 1.3 3.0 4.7 12.4 -9.2 -5.9 -4.9 6.4 18

19 Nonfinancial corporate business 1.3 11.4 4.6 3.3 8.2 10.2 2.4 4.6 10.9 19.3 19

20 State and local governments 17.1 20.3 14.3 12.8 17.5 15.2 17.5 14.3 2.9 8.0 20

21 Rest of the world 18.6 14.4 19.9 33.6 -6.4 9.3 -5.9 18.1 66.2 37.0 21

22 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

23 U.S.-chartered depository institutions (1) 0.4 0.4 -0.9 -0.1 -0.1 0.2 0.0 0.0 0.0 0.0 23

24 Foreign banking offices in U.S. (1) -0.4 0.5 -0.2 -0.1 0.4 -0.1 0.0 0.0 0.0 0.0 24

25 Credit unions -1.6 -0.3 -0.1 0.2 1.5 -0.6 1.2 -0.9 -0.8 0.1 25

26 Property-casualty insurance companies 4.1 -1.0 -0.1 3.7 -7.2 5.0 -6.4 3.0 -2.0 -1.4 26

27 Life insurance companies -7.3 2.9 17.5 7.5 2.0 -4.5 -19.5 4.0 -17.8 -10.5 27

28 Private pension funds 0.8 6.0 1.5 3.2 6.0 -6.2 -8.2 3.7 -3.2 1.0 28

29 State and local govt. retirement funds 3.7 -3.3 0.4 8.9 2.8 6.9 4.0 -3.2 -6.4 -6.5 29

30 Money market mutual funds 48.4 38.4 62.1 79.1 110.2 96.7 3.4 -38.6 -125.2 -54.1 30

31 Mutual funds 7.1 -3.1 10.6 13.1 9.9 18.8 -28.9 -7.7 13.1 18.0 31

32 Government-sponsored enterprises -0.8 9.6 -1.1 28.6 -32.4 10.7 2.7 -23.5 -3.7 -0.9 32

33 Brokers and dealers 10.9 1.6 0.6 3.8 -2.0 13.2 9.0 -4.7 5.9 -1.3 33

34 Funding corporations -29.8 0.5 53.6 -7.6 114.8 24.4 -153.7 -62.4 -16.8 91.0 34

(1) Excludes banks’ holdings of own acceptances.
38 FFA, 1995-2004, December 6, 2012

F.209 Treasury Securities

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Net issues 142.9 146.6 23.2 -54.6 -71.0 -294.9 -5.1 257.1 398.4 362.5 1

 2 Savings bonds 5.1 2.0 -0.5 0.1 -0.2 -1.7 5.6 4.5 8.9 0.6 2

 3 Treasury bills 26.9 16.7 -62.0 -24.4 46.1 -90.2 164.4 77.5 40.0 72.4 3

 4 Other Treasury securities 111.0 127.8 85.7 -30.3 -116.9 -203.0 -175.0 175.0 349.5 289.5 4

 5 Net purchases 142.9 146.6 23.2 -54.6 -71.0 -294.9 -5.1 257.1 398.4 362.5 5

 6 Household sector -19.1 -4.8 -143.1 -70.4 2.2 -210.5 -90.6 -141.1 19.2 -3.4 6

 7 Savings bonds 5.1 2.0 -0.5 0.1 -0.2 -1.7 5.6 4.5 8.9 0.6 7

 8 Bills and other Treasury securities -24.2 -6.8 -142.5 -70.5 2.4 -208.8 -96.1 -145.6 10.2 -4.0 8

 9 Nonfinancial corporate business 6.3 -10.0 -20.2 -3.2 -4.2 -1.3 -1.3 14.5 2.3 0.3 9

10 Nonfinancial noncorporate business 5.3 4.9 3.7 5.7 -0.8 3.0 2.7 0.0 2.1 5.3 10

11 State and local governments -80.2 -32.8 -17.7 41.4 23.8 5.5 18.4 26.2 10.2 46.7 11

12 Rest of the world 160.5 262.7 123.7 18.7 -32.3 -75.2 19.3 160.9 276.4 366.9 12

13 Treasury bills 34.4 39.5 -43.6 -9.7 2.2 -7.8 11.5 50.7 22.0 37.0 13

14 Other Treasury securities 126.1 223.2 167.4 28.4 -34.5 -67.4 7.8 110.2 254.4 329.9 14

15 Monetary authority 13.7 12.7 39.8 21.4 25.8 33.7 40.0 77.7 37.3 51.2 15

16 Treasury bills 5.7 7.5 6.5 -2.4 -18.3 2.2 3.3 44.6 18.2 18.1 16

17 Other Treasury securities 7.9 5.2 33.4 23.8 44.1 31.5 36.6 33.1 19.1 33.0 17

18 U.S.-chartered depository institutions -49.1 -35.7 -9.0 -46.4 -2.0 -36.4 -28.8 27.7 10.1 -23.1 18

19 Foreign banking offices in U.S. 29.6 18.4 14.4 -10.3 9.7 -0.5 9.8 12.9 -7.3 -5.7 19

20 Banks in U.S.-affiliated areas 0.2 -1.3 0.1 -0.7 -0.7 -1.0 -0.6 0.3 1.0 1.4 20

21 Credit unions -3.8 -0.9 -1.8 -2.5 -3.5 -1.4 -0.8 0.1 1.2 0.1 21

22 Property-casualty insurance companies 1.7 -12.9 2.1 -19.6 -11.9 -7.1 -0.3 14.5 14.3 20.3 22

23 Life insurance companies 1.0 -14.9 1.6 -14.1 -9.3 -4.6 -0.1 31.4 -9.1 1.7 23

24 Private pension funds -0.4 -4.8 2.0 -13.2 16.8 -9.9 -6.4 -1.6 13.3 -3.9 24

25 State and local govt. retirement funds -7.4 4.6 6.2 -6.4 -13.8 -19.8 -24.0 3.8 -10.3 2.4 25

26 Federal government retirement funds 3.2 2.2 1.7 2.3 2.9 2.0 7.2 9.8 5.2 4.8 26

27 Money market mutual funds 3.8 20.3 -4.0 21.7 -4.0 -12.9 46.0 4.7 -10.2 -33.9 27

28 Mutual funds 13.4 -18.0 10.6 4.6 -23.7 10.2 -9.8 17.2 9.3 4.8 28

29 Closed-end funds -1.7 0.1 -1.4 -1.0 -1.2 -0.9 0.1 -2.8 0.6 2.3 29

30 Exchange-traded funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2.0 0.1 2.8 30

31 Government-sponsored enterprises 6.1 -12.9 7.1 -0.7 5.8 0.6 0.4 12.1 -12.3 -0.6 31

32 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.1 0.4 0.4 1.9 5.2 32

33 Brokers and dealers 61.0 -31.1 7.5 21.2 -58.4 39.4 13.1 -13.7 41.7 -82.4 33

34 Holding companies -1.2 0.6 -0.1 -3.1 7.9 -7.9 0.4 0.1 1.4 -0.8 34

 Memo:

35 Federal government borrowing (1) 144.4 144.9 23.1 -52.6 -71.2 -295.9 -5.6 257.6 396.0 361.9 35

(1) Total issues of Treasury securities (line 1) plus budget agency securities (table F.210, line 2) and federal mortgage borrowing (table F.217, line 11).
FFA, 1995-2004, December 6, 2012 39

F.210 Agency- and GSE-Backed Securities (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Net issues 205.8 229.8 213.6 473.6 593.1 433.9 642.1 547.2 583.8 115.2 1

 2 Budget agencies 1.5 -1.6 -0.1 2.0 -0.2 -1.0 -0.5 0.5 -2.4 -0.6 2

 3 Government-sponsored enterprises 106.0 90.4 99.1 278.9 318.8 235.2 304.1 219.8 250.9 75.0 3

 4 Agency- and GSE-backed mortgage pools 98.3 141.0 114.6 192.7 274.6 199.7 338.5 326.8 335.4 40.8 4

 5 Net purchases 205.8 229.8 213.6 473.6 593.1 433.9 642.1 547.2 583.8 115.2 5

 6 Household sector 27.6 100.9 53.2 69.2 83.8 34.1 -122.8 -160.5 140.1 63.5 6

 7 Nonfinancial corporate business 3.5 5.1 -20.5 2.6 1.8 3.0 2.1 -0.7 -5.7 0.1 7

 8 State and local governments -35.1 -35.3 -0.8 38.7 44.2 41.4 47.3 41.7 16.7 41.6 8

 9 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

10 Rest of the world 17.6 26.8 30.3 11.1 63.4 141.9 92.0 127.1 12.3 178.2 10

11 Monetary authority -1.0 -0.4 -1.5 -0.3 -0.2 -0.1 -0.1 0.0 -0.0 0.0 11

12 U.S.-chartered depository institutions 28.0 6.8 59.6 70.2 32.8 11.5 94.7 135.9 107.7 7.3 12

13 Foreign banking offices in U.S. 14.3 12.4 12.5 5.2 4.9 0.4 -22.0 10.9 -6.3 -1.4 13

14 Banks in U.S.-affiliated areas 1.3 0.2 2.0 3.9 3.3 4.3 2.5 3.9 4.7 4.7 14

15 Credit unions 4.9 4.9 0.4 7.3 2.9 -0.4 19.6 -1.5 15.2 -1.1 15

16 Property-casualty insurance companies 2.3 2.8 1.7 -1.2 5.9 8.6 10.1 19.0 2.2 -3.3 16

17 Life insurance companies 8.7 1.3 -3.0 -9.6 7.0 11.0 18.1 77.4 18.0 8.2 17

18 Private pension funds 1.6 -11.3 6.1 -17.2 39.6 -32.9 5.1 -19.6 40.6 11.8 18

19 State and local govt. retirement funds 23.2 5.5 18.4 19.1 22.9 49.9 1.9 11.8 42.5 23.7 19

20 Federal government retirement funds 0.1 0.1 0.1 0.2 -0.0 0.1 1.6 2.1 0.9 0.1 20

21 Money market mutual funds 13.7 11.0 -5.5 76.1 18.6 -7.0 141.5 8.7 -4.6 -61.1 21

22 Mutual funds 5.5 33.1 8.9 21.6 36.2 12.6 84.7 54.0 25.2 15.2 22

23 Government-sponsored enterprises 60.0 65.8 67.6 158.4 172.9 149.2 206.9 131.7 101.9 -202.4 23

24 ABS issuers 20.8 -4.6 -20.7 24.7 41.0 8.6 35.0 75.1 82.5 -11.1 24

25 REITs -0.2 3.2 9.0 -8.1 -1.8 0.6 8.3 11.5 -2.9 15.8 25

26 Brokers and dealers 9.0 1.2 -4.8 0.5 15.0 -2.3 14.1 14.1 -8.1 23.5 26

27 Holding companies -0.2 0.3 0.6 1.1 -1.3 -0.5 1.4 4.5 0.9 1.9 27

(1) Agency- and GSE-backed securities include: issues of federal budget agencies (line 2) such as those for the TVA; issues of government-sponsored enterprises (line 3) such as Fannie Mae and FHLB;

 and agency- and GSE-backed mortgage pool securities issued by GNMA, Fannie Mae, Freddie Mac, and the Farmers Home Administration (line 4). Only the budget agency issues are considered

 officially to be part of the total borrowing of the federal government, which is shown in table F.209, line 35.
40 FFA, 1995-2004, December 6, 2012

F.211 Municipal Securities and Loans

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Net change in liabilities -57.6 -6.5 56.9 84.2 54.4 23.6 122.7 159.4 137.6 183.7 1

 2 State and local governments -60.9 -15.7 45.6 66.7 38.9 16.5 105.4 143.9 120.5 149.2 2

 3 Short-term (1) 1.2 6.3 8.3 -6.3 2.6 1.4 23.8 25.2 10.4 22.2 3

 4 Long-term -62.1 -22.0 37.3 72.9 36.3 15.1 81.5 118.7 110.1 127.0 4

 5 Nonprofit organizations (2) 0.2 6.1 7.1 11.8 10.4 5.8 13.8 12.6 13.8 14.5 5

 Nonfinancial corporate business

 6 (industrial revenue bonds) 3.1 3.1 4.2 5.8 5.1 1.4 3.5 2.9 3.3 20.1 6

 7 Net change in assets -57.6 -6.5 56.9 84.2 54.4 23.6 122.7 159.4 137.6 183.7 7

 8 Household sector -60.5 -40.5 21.5 1.1 29.4 4.8 49.5 97.6 25.1 90.9 8

 9 Nonfinancial corporate business -19.9 -5.8 -3.6 -1.6 -0.7 6.9 -2.6 2.8 3.3 -3.6 9

10 Nonfinancial noncorporate business 0.6 0.4 0.5 -0.4 -0.1 -0.3 1.1 -0.1 -0.7 1.7 10

11 State and local governments -3.5 -0.5 -0.7 -0.7 0.3 0.2 0.2 0.1 0.5 1.2 11

12 Rest of the world 1.0 1.0 1.0 1.0 1.0 0.2 0.0 3.5 8.0 6.5 12

13 U.S.-chartered depository institutions -4.3 1.1 2.5 8.6 6.3 3.4 7.9 2.5 11.8 9.1 13

14 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

15 Banks in U.S.-affiliated areas 0.1 -0.1 -0.0 -0.1 0.1 0.1 -0.2 0.0 0.1 -0.2 15

16 Property-casualty insurance companies 7.0 14.4 2.6 16.5 -9.1 -14.9 -10.3 9.2 41.2 43.6 16

17 Life insurance companies -0.9 1.5 0.1 1.7 1.7 -1.0 -0.4 1.2 6.2 4.0 17

18 State and local govt. retirement funds 0.7 -1.3 0.9 1.7 -0.2 -1.3 -0.1 -0.8 3.5 -2.6 18

19 Money market mutual funds 14.3 16.8 22.5 25.8 17.6 34.1 34.2 1.8 13.6 21.8 19

20 Mutual funds 3.2 3.1 6.5 22.8 -3.2 -9.0 22.6 24.3 12.9 4.1 20

21 Closed-end funds 4.8 1.0 0.3 1.3 9.0 -2.0 7.0 11.3 3.2 -0.1 21

22 Exchange-traded funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

23 Government-sponsored enterprises 2.7 4.3 0.5 6.5 3.6 2.9 6.2 4.0 5.0 0.3 23

24 Brokers and dealers -2.7 -1.9 2.4 -0.1 -1.2 -0.7 7.7 2.0 3.8 7.1 24

(1) Debt with original maturity of 13 months or less.

(2) Liability of the households and nonprofit organizations sector (tables F.100 and L.100).
FFA, 1995-2004, December 6, 2012 41

F.212 Corporate and Foreign Bonds

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Net issues 317.1 320.4 349.9 493.3 367.2 362.8 635.1 567.2 671.5 842.0 1

 2 Nonfinancial corporate business 78.9 111.9 160.4 217.6 210.7 167.9 346.1 136.8 155.4 87.7 2

 3 Rest of the world (1) 56.9 66.6 59.6 28.8 7.9 21.2 -18.5 31.6 28.7 85.8 3

 4 Financial sectors 181.2 141.9 130.0 246.8 148.6 173.7 307.5 398.8 487.3 668.5 4

 5 U.S.-chartered depository institutions 2.7 7.3 10.8 10.3 3.8 14.1 5.7 -0.8 6.5 12.9 5

 6 ABS issuers (net) (3) 90.5 69.2 48.0 132.4 14.8 44.2 176.9 270.3 285.9 443.5 6

 7 Finance companies 52.6 36.8 4.7 24.2 64.7 72.9 68.1 64.0 107.9 74.1 7

 8 REITs 0.2 1.3 14.8 21.7 8.4 2.9 4.6 14.0 23.8 61.9 8

 9 Brokers and dealers -5.0 -2.0 8.1 7.2 -17.2 15.6 1.4 -1.7 6.4 15.2 9

10 Holding companies 15.8 0.1 13.0 17.1 16.7 22.0 28.7 22.6 41.4 48.7 10

11 Funding corporations 24.4 29.2 30.6 34.0 57.4 1.9 22.2 30.5 15.4 12.2 11

12 Net purchases 317.1 320.4 349.9 493.3 367.2 362.8 635.1 567.2 671.5 842.0 12

13 Household sector 53.5 36.5 19.8 30.4 -107.3 88.6 44.4 209.3 -122.7 45.1 13

14 State and local governments 7.1 10.7 1.3 11.4 11.6 9.8 11.3 9.1 5.4 13.4 14

15 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

16 Rest of the world (2) 49.2 70.8 67.4 105.2 143.4 168.2 195.4 147.5 220.8 259.5 16

17 U.S.-chartered depository institutions -5.3 -14.7 7.9 60.2 61.1 47.6 38.1 -4.8 33.5 46.1 17

18 Foreign banking offices in U.S. 4.6 3.2 3.1 5.6 -4.6 8.3 30.6 0.3 0.2 22.4 18

19 Banks in U.S.-affiliated areas -0.1 -0.1 0.1 0.5 -0.5 0.3 0.6 -0.3 0.4 -0.2 19

20 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22.1 2.3 0.6 20

21 Property-casualty insurance companies 12.7 18.3 18.9 11.6 10.0 6.4 8.9 2.4 20.0 26.4 21

22 Life insurance companies 90.7 79.2 85.7 82.6 41.2 47.9 119.5 105.7 170.4 145.9 22

23 Private pension funds 14.0 3.3 34.0 20.4 43.1 -76.3 -23.1 11.6 21.3 -7.5 23

24 State and local govt. retirement funds 10.1 22.2 33.1 35.1 30.4 4.2 -34.6 -62.4 -9.9 6.0 24

25 Federal government retirement funds 0.1 0.1 0.0 0.1 -0.0 0.0 0.9 1.3 0.7 0.3 25

26 Money market mutual funds 6.4 2.4 12.5 45.8 42.6 27.3 42.3 5.6 30.5 2.3 26

27 Mutual funds 23.1 33.0 40.9 62.5 26.3 -10.6 65.4 50.4 78.5 64.9 27

28 Closed-end funds 5.4 1.9 -0.0 4.7 1.8 -2.7 -3.8 0.1 31.6 8.9 28

29 Exchange-traded funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.8 0.6 1.0 29

30 Government-sponsored enterprises 9.9 8.1 6.0 24.6 28.8 19.1 24.6 33.5 33.5 192.0 30

31 Finance companies 13.0 15.5 9.7 7.1 27.0 18.8 19.0 18.1 53.3 -7.7 31

32 REITs 0.8 1.4 2.1 -0.4 3.1 0.2 0.4 0.6 8.5 17.1 32

33 Brokers and dealers 11.7 13.1 5.7 -17.9 11.9 17.2 47.3 32.1 36.2 18.7 33

34 Holding companies 0.6 2.8 5.0 -0.7 1.2 -2.8 2.1 -2.4 1.3 1.3 34

35 Funding corporations 9.8 12.8 -3.4 4.5 -3.8 -8.9 45.8 -14.4 54.9 -14.5 35

(1) Net purchases of foreign issues by U.S. residents.

(2) Net purchases of U.S. issues by foreign residents.

(3) Net issuance less net acquisition of corporate bonds held as assets.
42 FFA, 1995-2004, December 6, 2012

F.213 Corporate Equities (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Net issues -0.1 14.3 -47.7 -110.6 5.6 5.6 100.9 72.2 144.5 80.5 1

 2 Nonfinancial corporate business -58.3 -47.3 -77.4 -215.5 -110.4 -118.2 -48.1 -16.2 -39.6 -122.7 2

 3 Rest of the world (2) 65.4 82.8 57.6 101.4 114.3 106.7 109.1 17.0 118.0 84.8 3

 4 Financial sectors -7.2 -21.3 -27.9 3.5 1.7 17.1 39.9 71.5 66.1 118.4 4

 5 U.S.-chartered depository institutions 2.6 3.2 3.2 3.8 3.8 4.4 8.2 5.5 9.1 5.6 5

 6 Property-casualty insurance companies -2.2 -4.8 -13.7 -4.7 -7.8 -4.5 0.5 6.2 4.1 -4.0 6

 7 Life insurance companies -3.6 -8.8 -4.0 -4.7 -6.0 -0.8 -0.9 -6.5 -3.9 -17.3 7

 8 Closed-end funds 8.0 0.3 -11.2 -6.8 -4.9 -5.5 1.9 18.0 43.6 32.7 8

 9 Exchange-traded funds 0.4 1.1 3.4 6.0 12.2 42.4 31.0 45.3 15.8 56.4 9

10 REITs 7.6 12.3 32.5 19.8 6.6 2.2 6.1 8.4 13.3 21.5 10

11 Government-sponsored enterprises -0.6 -0.4 -1.4 2.6 4.0 -0.3 1.6 -0.2 1.7 9.3 11

12 Brokers and dealers -8.1 -6.5 -5.9 2.5 7.6 -4.2 6.7 10.2 -8.0 2.6 12

13 Holding companies -11.3 -17.5 -30.9 -15.0 -13.8 -16.5 -15.3 -15.4 -9.6 11.7 13

14 Funding corporations (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

15 Net purchases -0.1 14.3 -47.7 -110.6 5.6 5.6 100.9 72.2 144.5 80.5 15

16 Household sector -72.2 -157.0 -218.7 -285.0 -153.2 -637.5 -488.2 -161.8 -98.4 -268.2 16

17 State and local governments 12.1 14.5 16.8 -8.8 -21.7 6.1 4.1 10.3 -19.6 -5.4 17

18 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

19 Rest of the world (4) 3.5 -3.5 53.2 27.4 104.5 199.7 134.3 54.4 5.2 25.0 19

20 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

21 U.S.-chartered depository institutions 2.8 2.4 0.8 2.8 1.3 0.7 3.4 1.3 1.4 -1.4 21

22 Foreign banking offices in U.S. 0.0 -0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

23 Property-casualty insurance companies -0.9 -7.1 2.6 -5.4 -1.7 0.3 -0.7 -1.6 -3.4 -3.9 23

24 Life insurance companies 28.2 44.5 72.0 82.5 116.9 111.3 70.2 52.7 45.5 51.5 24

25 Private pension funds -89.4 -91.5 -150.7 -31.5 -180.4 62.8 106.5 -61.5 -2.6 24.7 25

26 State and local govt. retirement funds 18.2 18.2 9.4 -28.2 -6.2 11.6 115.1 85.2 35.4 1.9 26

27 Federal government retirement funds 2.6 4.2 4.4 4.0 4.4 5.2 -0.6 7.7 16.7 8.6 27

28 Mutual funds 87.4 193.0 166.8 143.3 136.4 193.1 109.8 31.4 136.8 158.5 28

29 Closed-end funds -0.5 -2.6 -10.0 -11.8 -14.5 0.1 -1.3 9.3 8.2 21.7 29

30 Exchange-traded funds 0.4 1.1 3.4 6.0 12.2 42.4 31.0 41.6 15.1 52.6 30

31 Brokers and dealers 7.7 -1.9 2.4 -6.0 7.7 9.6 17.3 3.2 4.1 15.2 31

32 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 32

(1) Excludes mutual fund shares shown on table F.214.

(2) Net purchases of foreign issues by U.S. residents; includes American Depositary Receipts (ADRs).

(3) Preferred shares issued by AIG to the federal goverment under the TARP program and the monetary authority sector’s preferred interest in AIA Aurora LLC and ALICO Holdings LLC.

(4) Net purchases of U.S. issues by foreign residents.

F.214 Mutual Fund Shares (1)

Billions of dollars

 1 Net issues 147.4 237.6 265.1 279.5 191.2 237.6 204.9 181.1 288.6 298.2 1

 2 Net purchases 147.4 237.6 265.1 279.5 191.2 237.6 204.9 181.1 288.6 298.2 2

 3 Household sector 50.0 156.7 189.6 184.1 107.1 79.5 138.9 79.6 264.5 169.6 3

 4 Nonfinancial corporate business 4.6 9.1 1.7 14.6 9.8 0.3 4.3 -0.2 5.8 -1.3 4

 5 State and local governments -3.6 -0.6 -18.2 -13.2 -8.1 1.2 0.4 2.1 -5.2 0.0 5

 6 Rest of the world 12.3 13.8 13.1 13.8 7.1 -9.2 -16.7 -1.5 26.2 32.7 6

 7 U.S.-chartered depository institutions 0.3 0.3 0.8 -0.4 2.3 2.5 7.8 1.7 -6.2 -0.9 7

 8 Credit unions 0.2 -0.3 -0.2 1.2 -1.1 -0.3 1.5 -0.2 0.5 -0.9 8

 9 Property-casualty insurance companies 0.3 0.3 0.4 0.3 0.1 0.4 0.4 0.5 0.7 0.5 9

10 Life insurance companies 3.9 4.5 7.2 9.4 10.0 5.6 2.1 2.6 0.5 12.8 10

11 Private pension funds 68.6 51.6 62.3 57.8 61.9 107.7 40.4 74.2 11.4 84.2 11

12 State and local govt. retirement funds 10.7 2.2 8.5 12.0 2.1 49.9 25.8 22.2 -9.5 1.5 12

(1) Shares of open-end investment companies; excludes shares of money market mutual funds, exchange-traded funds, and funding vehicles for variable annuities.
FFA, 1995-2004, December 6, 2012 43

F.215 Depository Institution Loans Not Elsewhere Classified (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Net change in liabilities 111.8 94.0 128.1 140.2 94.0 116.6 -73.4 -80.0 -66.0 54.5 1

 2 Household sector 18.0 -10.1 8.0 -4.7 -24.9 -3.6 -15.7 -23.6 -3.4 -19.6 2

 3 Corporate business 77.2 43.9 55.4 80.7 48.7 55.0 -105.1 -103.4 -91.4 4.0 3

 4 Noncorporate business 11.5 29.2 46.8 25.5 49.6 50.4 43.5 23.7 10.3 32.9 4

 5 Rest of the world 8.5 9.1 8.5 6.6 0.5 11.4 -7.3 5.3 -2.5 3.8 5

 6 Foreign official institutions 0.4 0.3 -0.8 0.7 0.2 0.6 0.8 0.8 -0.6 1.0 6

 7 Foreign banks 2.1 3.4 -0.5 -0.7 -3.2 3.4 -7.4 -0.8 3.8 4.5 7

 8 Other foreign 5.9 5.4 9.8 6.6 3.5 7.4 -0.7 5.3 -5.7 -1.7 8

 9 Financial sectors -3.3 21.9 9.5 32.1 20.1 3.4 11.2 17.9 20.9 33.4 9

10 Finance companies -1.7 8.5 -0.0 6.0 13.8 3.6 20.5 16.8 5.8 30.0 10

11 REITs -1.0 2.7 9.9 16.0 -7.1 -4.8 -3.1 1.8 -0.4 7.2 11

12 Brokers and dealers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

13 Holding companies -0.6 10.6 -0.3 10.1 13.4 4.5 -6.3 -0.7 15.5 -3.8 13

14 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

15 Net change in assets 111.8 94.0 128.1 140.2 94.0 116.6 -73.4 -80.0 -66.0 54.5 15

16 Monetary authority (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

17 U.S.-chartered depository institutions 74.3 59.8 107.8 140.7 115.4 99.8 -59.5 -59.0 -45.0 40.4 17

18 Foreign banking offices in U.S. 35.3 32.4 19.2 -1.7 -22.3 14.6 -19.1 -18.6 -23.6 7.4 18

19 Banks in U.S.-affiliated areas 1.8 1.4 0.9 0.9 0.5 1.1 4.5 -4.3 0.3 1.8 19

20 Credit unions 0.4 0.4 0.2 0.4 0.4 1.0 0.7 1.9 2.3 4.9 20

(1) Excludes depository institution lending in the form of open market paper, mortgages, consumer credit, and security credit which are shown on other instrument tables.

(2) Loans from Federal Reserve banks to households, rest of the world, broker and dealers, and funding corporations. See loan details on table F.108.
44 FFA, 1995-2004, December 6, 2012

F.216 Other Loans and Advances

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total other loans and advances 37.6 56.7 93.9 149.8 128.9 128.1 21.3 39.7 34.4 123.4 1

 2 U.S. government loans -13.5 2.6 5.9 -2.4 -7.0 -2.7 -7.8 -0.5 -1.9 -3.0 2

 3 Liab.: Household sector -9.7 9.3 -2.4 -0.4 -0.2 -1.2 -1.2 -0.9 -0.6 -0.9 3

 4 Nonfinancial corporate business -1.8 -0.7 0.4 -0.3 -0.3 0.1 -1.3 1.0 0.8 0.3 4

 5 Nonfinancial noncorporate business -1.4 -0.5 4.4 -0.9 -0.1 -1.4 -4.3 0.8 -0.1 1.0 5

 6 State and local governments 0.1 -4.8 5.1 0.1 -1.6 0.4 0.1 0.6 0.1 0.3 6

 7 Rest of the world -0.8 -0.7 -1.6 -1.0 -4.8 -0.6 -1.1 -1.9 -2.1 -3.7 7

 8 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Finance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

10 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

11 Foreign loans to U.S. corporate business 0.0 3.9 17.3 -1.0 -22.7 -2.2 -1.6 10.1 -0.8 6.3 11

12 Liab.: Nonfinancial corporate business 0.0 3.9 17.3 -1.0 -22.7 -2.2 -1.6 10.1 -0.8 6.3 12

 Customers’ liability on acceptances outstanding

13 Asset: U.S.-chartered depository institutions 2.4 1.6 -0.2 -4.6 -2.5 -0.7 -2.3 0.3 -0.2 -0.5 13

14 Foreign banking offices in U.S. -2.9 -0.6 -2.5 -4.7 -0.6 -0.0 -0.6 -0.4 -0.0 0.1 14

15 Liab.: Nonfinancial corporate business -0.8 -0.7 -2.6 -4.3 -2.2 -0.0 -0.3 0.3 -0.2 -0.4 15

16 Rest of the world 0.3 1.8 -0.2 -5.0 -0.9 -0.7 -2.6 -0.4 0.0 0.1 16

17 Holding company loans 0.4 0.2 -0.0 1.7 -1.6 -0.9 0.3 0.9 5.0 -2.5 17

18 Liab.: Nonfinancial corporate business 0.4 0.2 -0.0 1.7 -1.6 -0.9 0.3 0.9 5.0 -2.5 18

19 Rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

20 Policy loans (Household liability) 10.5 4.5 3.2 0.1 -5.1 2.8 2.2 1.0 -0.7 1.6 20

21 Asset: Federal government 0.1 0.0 0.0 -0.0 -0.0 -0.0 -0.0 -0.1 -0.1 -0.1 21

22 Life insurance companies 10.4 4.5 3.2 0.1 -5.0 2.9 2.2 1.0 -0.7 1.6 22

23 Govt.-sponsored enterprises loans (1) 7.2 29.4 35.4 93.5 108.1 45.3 28.3 8.9 31.1 73.5 23

24 Liab.: Household sector (SLMA) -0.1 0.0 -0.2 -0.1 0.1 -0.3 -0.1 0.1 -0.1 -0.3 24

25 Nonfinancial corporate business (FCS) 0.2 0.2 0.1 0.4 0.1 0.4 0.6 0.5 0.4 0.5 25

26 Nonfinancial noncorporate business (FCS) 3.7 1.2 -0.1 2.9 0.8 2.7 2.2 1.5 -0.3 -0.8 26

27 U.S.-chartered dep. inst. (FHLB & SLMA) 3.6 26.8 35.2 89.0 104.2 43.2 23.3 2.8 26.1 68.8 27

28 Credit unions (FHLB) -0.1 0.1 0.1 0.6 2.2 0.0 1.5 2.0 2.2 2.3 28

29 Life insurance companies (FHLB) -0.1 1.1 0.2 0.7 0.7 -0.7 0.6 2.0 2.9 3.0 29

30 Securitized loans held by ABS issuers 5.9 8.1 24.4 23.8 -3.3 7.2 15.7 6.8 -1.0 0.0 30

31 Liab.: Nonfinancial corporate business 5.9 8.1 24.4 23.8 -3.3 7.2 15.7 6.8 -1.0 0.0 31

32 Finance company loans to business 26.7 3.1 -0.6 36.8 54.2 61.1 -16.0 3.8 -2.3 9.8 32

33 Liab.: Nonfinancial corporate business 24.0 2.8 -0.5 33.1 48.8 55.0 -14.4 3.4 -2.1 8.8 33

34 Nonfinancial noncorporate business 2.7 0.3 -0.1 3.7 5.4 6.1 -1.6 0.4 -0.2 1.0 34

35 Loans to nonfinancial corporate business (2) 1.0 3.8 11.1 6.6 9.3 18.3 3.1 8.7 5.3 38.1 35

36 Asset: Household sector 0.1 -0.1 0.1 -0.0 0.4 1.3 0.7 0.2 0.3 2.8 36

37 Life insurance companies 0.0 0.0 1.1 1.9 0.3 1.1 0.7 1.1 0.6 1.9 37

38 Mutual funds 0.2 0.8 3.4 2.7 2.9 4.3 -7.3 0.5 -1.1 9.6 38

39 ABS issuers 0.1 0.2 2.0 1.8 3.2 6.9 7.8 9.4 6.2 18.9 39

40 Brokers and dealers 0.3 1.4 3.5 -0.7 0.1 2.1 1.3 -1.3 0.1 5.2 40

41 Funding corporations 0.2 1.5 1.0 0.9 2.5 2.7 -0.1 -1.2 -0.9 -0.3 41

(1) The Student Loan Marketing Association (Sallie Mae) was included until it was fully privatized in 2004:Q4.

(2) Syndicated loans from domestic entities, excluding depository institutions and finance companies which are included elsewhere.
FFA, 1995-2004, December 6, 2012 45

F.217 Total Mortgages

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Net change in mortgages 186.4 267.8 312.5 485.1 575.0 559.6 707.5 900.9 999.9 1256.7 1

 2 Home 167.5 223.2 234.6 356.2 427.5 425.8 551.8 754.9 814.0 1021.4 2

 3 Multifamily residential 6.1 12.3 11.7 33.6 40.8 29.6 42.1 39.0 71.4 50.6 3

 4 Commercial 11.1 29.6 62.0 90.6 102.6 106.6 109.8 100.2 126.7 172.1 4

 5 Farm 1.8 2.7 4.1 4.6 4.1 -2.5 3.8 6.9 -12.2 12.5 5

 6 Net borrowing 186.4 267.8 312.5 485.1 575.0 559.6 707.5 900.9 999.9 1256.7 6

 7 Household sector 153.1 209.2 219.0 311.0 381.7 396.0 515.7 716.9 878.0 938.9 7

 8 Nonfinancial business 28.0 50.8 78.6 149.3 186.0 158.9 189.5 172.8 112.9 292.2 8

 9 Corporate -1.0 10.6 27.6 1.5 47.9 24.3 66.0 47.3 48.8 71.7 9

10 Noncorporate 29.0 40.2 51.0 147.7 138.1 134.5 123.6 125.5 64.1 220.6 10

11 Federal government 0.0 -0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

12 REITs 5.3 7.9 14.9 24.8 7.2 4.7 2.2 11.2 8.9 25.5 12

13 Net change in assets 186.4 267.8 312.5 485.1 575.0 559.6 707.5 900.9 999.9 1256.7 13

14 Household sector -7.2 -7.5 -7.1 -4.3 7.2 1.9 5.3 7.9 4.3 10.3 14

15 Nonfinancial corporate business 1.6 -3.6 25.9 -13.0 -26.0 2.3 3.1 2.9 2.2 14.8 15

16 Nonfinancial noncorporate business -2.1 -1.4 -1.6 7.6 -2.2 -0.7 3.4 -0.6 0.1 4.6 16

17 State and local governments 3.3 3.8 3.7 6.1 4.4 -1.3 -0.8 -5.3 6.8 16.8 17

18 Federal government -13.5 -7.2 -4.5 -0.8 -0.1 -0.9 -1.1 0.5 -2.5 1.6 18

19 U.S.-chartered depository institutions 82.3 89.1 109.0 108.0 185.2 216.5 160.8 288.6 284.4 520.8 19

20 Foreign banking offices in U.S. -5.1 -2.9 -6.1 -5.7 -4.5 1.2 0.7 1.1 -1.5 -0.6 20

21 Banks in U.S.-affiliated areas 0.9 0.6 0.6 1.5 1.7 1.9 3.3 1.7 4.1 6.5 21

22 Credit unions 4.0 9.1 9.9 10.4 13.8 12.8 15.7 16.3 20.9 25.7 22

23 Property-casualty insurance companies -1.0 -0.4 -0.2 -0.3 -0.0 -0.3 0.2 0.1 0.1 0.3 23

24 Life insurance companies -2.6 -5.0 -1.3 6.8 15.7 5.2 7.1 7.0 10.9 12.4 24

25 Private pension funds 0.8 0.7 0.8 -0.2 1.8 0.2 -2.2 0.6 -0.1 -0.2 25

26 State and local govt. retirement funds 0.7 0.8 0.9 4.8 3.3 -3.6 -1.1 0.1 -0.7 -5.3 26

27 Government-sponsored enterprises (1) 6.3 -6.4 -4.7 7.6 -5.0 22.2 33.2 59.8 101.7 7.5 27

28 Agency- and GSE-backed mortgage pools 98.3 141.0 114.6 192.7 274.6 199.7 338.5 326.8 335.4 40.8 28

29 ABS issuers 16.8 36.1 61.8 128.4 70.9 65.8 120.7 110.9 173.1 440.2 29

30 Finance companies 2.1 21.2 1.9 32.3 34.4 42.6 20.3 72.3 39.7 105.8 30

31 REITs 0.8 -0.3 9.1 3.4 -0.4 -6.0 0.4 10.2 20.7 54.7 31
46 FFA, 1995-2004, December 6, 2012

F.218 Home Mortgages (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Net borrowing 167.5 223.2 234.6 356.2 427.5 425.8 551.8 754.9 814.0 1021.4 1

 2 Household sector 153.6 205.1 215.9 301.1 379.2 384.4 506.9 704.7 871.7 934.0 2

 3 Nonfinancial corporate business -0.1 1.1 0.3 1.4 2.1 2.0 2.1 0.7 1.9 4.7 3

 4 Nonfinancial noncorporate business 13.9 17.0 18.4 53.7 46.2 39.5 42.8 49.5 -59.7 82.8 4

 5 Net change in assets 167.5 223.2 234.6 356.2 427.5 425.8 551.8 754.9 814.0 1021.4 5

 6 Household sector -8.7 -8.9 -8.9 -4.9 7.1 7.1 6.8 6.1 6.1 6.6 6

 7 Nonfinancial corporate business 1.1 -9.3 5.3 -2.7 -6.9 1.2 1.5 1.9 1.2 13.8 7

 8 Nonfinancial noncorporate business -0.8 -0.5 -0.6 2.7 -0.9 -0.2 1.2 -0.2 0.0 1.6 8

 9 State and local governments 3.2 2.3 3.0 -0.8 2.3 -0.6 -0.4 -2.7 3.5 8.5 9

10 Federal government -4.9 -3.0 -2.1 -0.3 -0.4 -0.7 -0.6 -0.9 -0.9 -0.5 10

11 U.S.-chartered depository institutions 60.5 61.8 74.9 63.3 97.1 131.0 85.5 208.0 201.8 389.9 11

12 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

13 Banks in U.S.-affiliated areas 1.0 0.6 0.1 1.1 0.6 1.0 -0.9 1.5 2.5 3.4 13

14 Credit unions 4.0 9.1 9.9 10.4 13.8 12.8 15.7 16.3 20.9 25.7 14

15 Life insurance companies 0.3 -1.9 0.3 -0.6 0.1 -0.8 0.4 -1.1 1.7 -0.4 15

16 Private pension funds 0.7 0.6 0.8 0.1 0.7 1.1 -3.1 -1.8 -1.1 -0.2 16

17 State and local govt. retirement funds 0.5 0.6 0.6 1.5 1.0 -1.1 -0.3 0.7 -0.3 -1.9 17

18 Government-sponsored enterprises 5.4 -6.6 -4.7 5.6 -10.4 16.1 21.7 45.6 94.2 -10.5 18

19 Agency- and GSE-backed mortgage pools 93.8 135.4 109.3 182.1 264.6 190.9 322.9 315.2 308.3 43.8 19

20 ABS issuers 10.8 21.6 38.4 68.1 31.9 31.7 77.8 80.3 122.9 388.6 20

21 Finance companies -1.2 20.5 2.4 29.8 28.0 39.7 22.8 75.9 34.6 101.8 21

22 REITs 1.9 1.1 6.0 0.8 -1.2 -3.5 0.8 10.1 18.5 51.1 22

 Memo:

23 Home equity loans included above (2) 15.7 25.1 34.4 13.0 24.4 73.6 31.0 61.8 92.7 182.5 23

24 U.S.-chartered depository institutions 11.4 15.5 23.3 3.4 16.4 58.6 28.8 45.2 79.8 143.2 24

25 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

26 Credit unions 2.0 2.6 3.5 0.7 3.7 7.3 4.2 3.0 3.7 12.2 26

27 ABS issuers 0.6 0.8 1.3 2.1 1.5 2.1 1.9 2.6 1.2 7.4 27

28 Finance companies 1.6 6.1 6.3 6.7 2.8 5.7 -3.9 10.9 8.0 19.7 28

(1) Mortgages on 1-4 family properties including mortages on farm houses.

(2) Loans made under home equity lines of credit and home equity loans secured by junior liens. Excludes home equity loans held by individuals.

F.219 Multifamily Residential Mortgages

Billions of dollars

 1 Net borrowing 6.1 12.3 11.7 33.6 40.8 29.6 42.1 39.0 71.4 50.6 1

 2 Nonfinancial corporate business 0.2 0.5 0.3 1.3 1.9 1.3 2.0 1.9 3.5 2.4 2

 3 Nonfinancial noncorporate business 4.1 9.2 6.5 24.2 36.8 25.2 38.5 35.4 67.4 44.7 3

 4 Federal government 0.0 -0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 REITs 1.8 2.6 4.9 8.2 2.1 3.1 1.5 1.7 0.5 3.6 5

 6 Net change in assets 6.1 12.3 11.7 33.6 40.8 29.6 42.1 39.0 71.4 50.6 6

 7 Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Nonfinancial corporate business -0.8 0.7 0.6 -0.3 -0.2 -0.1 0.1 0.0 0.0 0.0 8

 9 Nonfinancial noncorporate business -0.7 -0.5 -0.5 2.6 -0.8 -0.2 1.2 -0.2 0.0 1.6 9

10 State and local governments 0.6 1.8 0.6 4.5 1.8 -0.5 -0.3 -2.1 2.7 6.7 10

11 Federal government -4.3 -2.9 -0.9 -0.3 -0.0 0.3 -0.2 0.5 0.2 0.4 11

12 U.S.-chartered depository institutions 2.3 2.5 2.2 2.5 15.3 12.1 10.4 13.4 19.6 23.8 12

13 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

14 Life insurance companies 0.9 2.0 -0.3 1.1 1.1 0.9 2.0 1.2 1.7 1.9 14

15 Private pension funds -0.0 0.0 -0.0 -0.1 0.2 0.0 0.3 0.5 0.3 0.0 15

16 State and local govt. retirement funds 0.2 0.2 0.2 1.3 0.9 -1.0 -0.2 0.3 -0.2 -1.6 16

17 Government-sponsored enterprises 0.5 -0.8 -1.5 -0.0 4.3 4.5 8.2 8.5 12.1 14.3 17

18 Agency- and GSE-backed mortgage pools 4.5 5.6 5.3 10.5 9.2 8.5 15.6 12.9 26.5 -3.0 18

19 ABS issuers 2.1 3.8 4.5 12.9 8.5 5.3 5.9 5.5 8.1 6.5 19

20 Finance companies 1.3 0.0 0.8 -1.0 0.2 0.4 -0.5 -1.4 0.0 -0.1 20

21 REITs -0.6 -0.4 0.9 0.1 0.2 -0.6 -0.3 -0.1 0.2 0.1 21
FFA, 1995-2004, December 6, 2012 47

F.220 Commercial Mortgages

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Net borrowing 11.1 29.6 62.0 90.6 102.6 106.6 109.8 100.2 126.7 172.1 1

 2 Household sector -0.6 4.1 3.1 9.9 2.5 11.6 8.8 12.2 6.3 5.0 2

 3 Nonfinancial corporate business -1.7 8.3 26.2 -2.2 42.8 20.5 60.4 42.4 44.2 61.4 3

 4 Nonfinancial noncorporate business 9.7 12.0 22.8 66.3 52.1 72.8 39.9 36.1 67.9 83.9 4

 5 REITs 3.6 5.3 10.0 16.6 5.1 1.7 0.7 9.5 8.4 21.9 5

 6 Net change in assets 11.1 29.6 62.0 90.6 102.6 106.6 109.8 100.2 126.7 172.1 6

 7 Household sector 0.9 0.6 0.6 0.9 0.8 1.7 -0.7 1.3 1.0 1.3 7

 8 Nonfinancial corporate business 1.2 5.1 20.0 -10.0 -19.0 1.1 1.5 1.0 1.0 1.0 8

 9 Nonfinancial noncorporate business -0.6 -0.4 -0.4 2.0 -0.5 -0.2 0.9 -0.2 0.0 1.2 9

10 State and local governments -0.5 -0.2 0.2 2.5 0.4 -0.1 -0.1 -0.4 0.5 1.3 10

11 Federal government -3.8 -0.9 -0.7 0.1 0.6 -0.4 -0.1 1.2 -1.6 1.8 11

12 U.S.-chartered depository institutions 18.3 23.7 29.9 40.2 70.4 71.1 63.7 65.2 66.9 101.5 12

13 Foreign banking offices in U.S. -5.1 -2.9 -6.1 -5.7 -4.5 1.2 0.7 1.1 -1.5 -0.6 13

14 Banks in U.S.-affiliated areas -0.0 -0.1 0.5 0.4 1.2 0.8 4.2 0.2 1.6 3.1 14

15 Property-casualty insurance companies -1.0 -0.4 -0.2 -0.3 -0.0 -0.3 0.2 0.1 0.1 0.3 15

16 Life insurance companies -4.0 -5.6 -1.5 5.2 13.8 4.7 4.6 6.7 8.9 10.1 16

17 Private pension funds 0.1 0.1 0.1 -0.2 0.9 -0.9 0.6 2.0 0.8 0.0 17

18 State and local govt. retirement funds 0.0 -0.0 -0.0 2.0 1.3 -1.5 -0.6 -0.9 -0.2 -1.8 18

19 Agency- and GSE-backed mortgage pools -0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

20 ABS issuers 4.0 10.7 18.9 47.5 30.5 28.7 37.0 25.1 42.1 45.2 20

21 Finance companies 2.0 0.7 -1.3 3.5 6.1 2.5 -2.0 -2.2 5.1 4.1 21

22 REITs -0.5 -1.0 2.2 2.5 0.6 -2.0 -0.1 0.2 2.0 3.5 22

F.221 Farm Mortgages (1)

Billions of dollars

 1 Net borrowing 1.8 2.7 4.1 4.6 4.1 -2.5 3.8 6.9 -12.2 12.5 1

 2 Nonfinancial corporate business 0.6 0.7 0.8 1.1 1.0 0.5 1.5 2.3 -0.8 3.2 2

 3 Nonfinancial noncorporate business 1.2 2.0 3.3 3.5 3.1 -2.9 2.3 4.6 -11.5 9.3 3

 4 Net change in assets 1.8 2.7 4.1 4.6 4.1 -2.5 3.8 6.9 -12.2 12.5 4

 5 Household sector 0.6 0.8 1.2 -0.3 -0.7 -7.0 -0.9 0.5 -2.7 2.5 5

 6 Nonfinancial noncorporate business -0.0 -0.0 -0.0 0.2 -0.0 -0.0 0.1 -0.0 0.0 0.1 6

 7 State and local governments -0.0 -0.1 -0.0 -0.1 0.0 -0.0 -0.0 -0.1 0.1 0.2 7

 8 Federal government -0.5 -0.5 -0.9 -0.3 -0.2 -0.1 -0.2 -0.3 -0.3 -0.2 8

 9 U.S.-chartered depository institutions 1.2 1.1 2.0 2.0 2.4 2.2 1.3 2.0 -4.0 5.6 9

10 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

11 Life insurance companies 0.1 0.4 0.3 1.0 0.7 0.4 0.2 0.2 -1.4 0.7 11

12 State and local govt. retirement funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

13 Government-sponsored enterprises 0.3 1.0 1.5 2.0 1.1 1.6 3.3 5.7 -4.6 3.8 13

14 Agency- and GSE-backed mortgage pools 0.1 -0.0 0.0 0.1 0.8 0.3 0.0 -1.3 0.6 -0.1 14

(1) Excludes mortgages on farm houses.
48 FFA, 1995-2004, December 6, 2012

F.222 Consumer Credit

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Net change in liabilities (Households) 147.0 105.7 70.3 97.1 112.4 176.5 150.6 105.2 105.9 117.2 1

 2 Net change in assets 147.0 105.7 70.3 97.1 112.4 176.5 150.6 105.2 105.9 117.2 2

 3 Nonfinancial corporate business -1.6 -7.3 6.7 -5.1 -3.2 5.4 -8.4 1.7 -15.7 0.1 3

 4 Nonfinancial noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Federal government (1) 2.3 8.5 10.0 8.9 11.5 11.7 12.8 8.0 1.9 3.7 5

 6 U.S.-chartered depository institutions 45.2 29.7 -9.9 2.1 5.1 46.4 23.7 31.7 62.0 48.3 6

 7 Credit unions 12.3 12.2 8.2 3.0 12.5 16.5 5.1 6.2 10.1 9.5 7

 8 Government-sponsored enterprises 4.0 -0.6 -4.2 -1.2 5.4 -3.9 2.4 -2.6 -16.3 -20.6 8

 9 ABS issuers 67.0 60.4 47.0 73.5 62.7 67.7 69.4 32.6 -21.6 -23.2 9

10 Finance companies 17.7 2.8 12.6 15.8 18.3 32.8 45.5 27.5 85.5 99.3 10

(1) Includes loans originated by the Department of Education under the Federal Direct Loan Program, as well as Federal Family Education Loan Program loans that

 the government purchased from depository institutions and finance companies.

F.223 Trade Credit

Billions of dollars

 1 Net change in trade payables 122.4 111.2 128.2 105.0 256.3 394.5 -84.4 86.8 21.5 194.7 1

 2 Household sector 7.9 8.0 8.9 8.7 4.1 3.8 -1.9 19.1 4.8 16.5 2

 3 Nonfinancial corporate business 81.2 49.7 65.2 57.7 178.5 312.6 -103.6 19.8 -54.7 97.7 3

 4 Nonfinancial noncorporate business 13.8 31.8 31.9 30.3 34.5 41.5 -4.8 25.4 -26.2 23.7 4

 5 State and local governments 17.2 18.2 19.5 20.8 22.8 25.0 26.9 28.3 29.0 30.2 5

 6 Federal government -4.5 1.1 -8.3 -7.6 0.2 5.7 3.2 1.0 71.7 15.4 6

 7 Rest of the world 5.8 -1.7 5.2 -3.9 4.2 0.8 -7.7 -4.9 6.1 3.5 7

 8 Brokers and dealers 1.1 4.0 5.7 -1.0 11.9 5.1 3.3 -1.8 -9.2 7.8 8

 9 Net change in trade receivables 118.6 138.7 150.7 123.2 241.0 378.2 -91.5 -78.3 -11.7 170.8 9

10 Nonfinancial corporate business 78.0 88.1 88.0 87.3 209.2 281.6 -121.3 -98.4 -17.7 128.8 10

11 Nonfinancial noncorporate business 15.3 29.5 35.1 28.2 39.4 69.6 1.8 18.9 -25.1 26.6 11

12 State and local governments 6.1 5.6 6.3 7.0 8.7 4.9 6.0 2.6 -2.5 -4.7 12

13 Federal government -1.6 0.9 -3.2 1.5 4.6 5.3 7.3 -3.3 19.1 10.5 13

14 Rest of the world 0.7 5.5 0.9 -6.5 -5.1 -0.4 -3.1 2.6 1.3 -1.1 14

15 Property-casualty insurance companies 4.4 -0.1 2.7 1.6 2.0 1.0 5.3 4.9 4.5 0.3 15

16 ABS issuers 15.8 9.1 20.9 4.0 -17.8 16.1 12.6 -5.6 8.8 10.3 16

17 Discrepancy 3.8 -27.6 -22.5 -18.1 15.4 16.3 7.1 165.1 33.2 23.9 17

F.224 Security Credit

Billions of dollars

 1 Net change in liabilities 26.7 52.4 111.0 103.2 104.4 146.1 3.1 -87.0 120.0 179.4 1

 2 Household sector 3.5 15.8 36.8 21.6 75.2 7.2 -38.8 -48.2 34.3 81.5 2

 3 Rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Brokers and dealers 23.1 36.6 74.2 81.6 29.2 138.9 41.9 -38.9 85.7 97.9 4

 5 Customer credit balances (HH) 18.6 35.3 52.6 61.2 47.2 88.6 41.9 -41.6 62.7 103.0 5

 6 From U.S.-chartered depository institutions 8.3 -4.8 4.2 11.9 -8.8 7.1 7.2 -2.7 12.2 10.7 6

 7 From foreign banking offices in U.S. -3.7 6.2 17.5 8.4 -9.3 43.2 -7.2 5.5 10.8 -15.8 7

 8 Net change in assets 26.7 52.4 111.0 103.2 104.4 146.1 3.1 -87.0 120.0 179.4 8

 9 Household sector 18.6 35.3 52.6 61.2 47.2 88.6 41.9 -41.6 62.7 103.0 9

10 Rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

11 U.S.-chartered depository institutions 8.3 -4.8 4.2 11.9 -8.8 7.1 7.2 -2.7 12.2 10.7 11

12 Foreign banking offices in U.S. -3.7 6.2 17.5 8.4 -9.3 43.2 -7.2 5.5 10.8 -15.8 12

13 Brokers and dealers 3.5 15.8 36.8 21.6 75.2 7.2 -38.8 -48.2 34.3 81.5 13
FFA, 1995-2004, December 6, 2012 49

F.225 Life Insurance and Pension Fund Reserves

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 Life insurance reserves:

 1 Net change in liabilities 45.8 44.5 59.3 48.0 50.8 50.2 77.2 60.1 66.8 33.1 1

 2 Federal government 1.0 0.6 1.7 1.3 1.4 1.4 1.4 1.6 1.1 1.1 2

 3 Life insurance companies 44.8 43.8 57.6 46.7 49.4 48.7 75.8 58.5 65.7 32.0 3

 4 Net change in assets 45.8 44.5 59.3 48.0 50.8 50.2 77.2 60.1 66.8 33.1 4

 5 Households 45.8 44.5 59.3 48.0 50.8 50.2 77.2 60.1 66.8 33.1 5

 6 U.S.-chartered depository institutions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Holding companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 Pension fund reserves:

 8 Net change in liabilities 176.2 158.3 220.8 286.7 147.8 263.0 290.5 274.7 297.3 357.9 8

 9 Life insurance companies 72.4 36.7 103.9 131.4 102.7 166.6 129.2 149.3 144.2 200.4 9

10 Private pension funds (1) 12.1 10.4 -8.3 46.3 -50.7 -32.6 4.1 28.2 65.0 75.1 10

11 State and local govt. retirement funds 64.8 49.6 78.7 61.1 47.4 100.8 87.3 51.8 40.0 27.6 11

12 Federal government retirement funds (2) 26.9 61.6 46.5 47.9 48.5 28.2 69.9 45.4 48.2 54.7 12

13 Net change in assets (Households) (3) 176.2 158.3 220.8 286.7 147.8 263.0 290.5 274.7 297.3 357.9 13

(1) Includes unallocated insurance company contracts beginning 1985:Q4.

(2) Includes the Thrift Savings Plan, the National Railroad Retirement Investment Trust, and other federal government retirement funds.

(3) Excludes all individual retirement accounts (IRAs) (table F.225.i), except those at life insurance companies.

F.226 Taxes Payable by Businesses

Billions of dollars

 1 Net change in taxes payable by all 8.6 16.0 21.7 13.2 20.2 28.9 11.8 9.4 -1.9 20.5 1

 businesses

 2 Nonfinancial corporate business -0.0 9.6 9.3 4.8 7.0 7.0 3.1 11.9 -11.7 6.8 2

 3 Nonfinancial noncorporate business 0.6 2.3 4.3 4.1 8.9 11.7 4.0 1.5 -0.5 8.4 3

 4 U.S.-chartered depository institutions 5.1 2.0 5.3 3.1 2.0 9.7 3.8 10.0 1.7 -0.5 4

 5 Property-casualty insurance companies 0.7 0.6 0.5 -1.1 0.1 0.1 0.3 -7.4 4.7 0.5 5

 6 Life insurance companies 1.6 0.5 1.4 1.5 0.5 -0.4 -0.4 -7.4 1.9 3.1 6

 7 Finance companies 0.7 0.8 0.8 0.8 0.8 1.0 1.2 1.4 1.6 1.8 7

 8 Brokers and dealers -0.1 0.1 0.1 -0.1 0.9 -0.1 -0.2 -0.5 0.4 0.4 8

 9 Net change in business taxes receivable -7.4 2.1 -6.0 -4.4 10.9 -10.8 -8.8 -0.3 34.4 33.6 9

10 State and local governments 0.5 2.4 4.3 4.9 9.7 11.2 1.0 2.5 0.9 11.3 10

11 Federal government -7.9 -0.3 -10.3 -9.3 1.2 -22.0 -9.8 -2.8 33.5 22.3 11

12 Discrepancy 16.0 13.9 27.7 17.6 9.3 39.7 20.6 9.7 -36.3 -13.1 12

F.227 Proprietors’ Equity in Noncorporate Business

Billions of dollars

 1 Total household investment 23.4 1.2 -17.3 -30.8 -56.5 0.7 15.4 -29.2 100.7 123.8 1

 2 Nonfinancial noncorporate business 23.9 0.9 -18.4 -29.4 -57.7 0.9 18.7 -29.9 104.1 128.0 2

 3 Brokers and dealers -0.5 0.3 1.1 -1.4 1.2 -0.2 -3.3 0.6 -3.4 -4.2 3
50 FFA, 1995-2004, December 6, 2012

F.228 Total Miscellaneous Financial Claims

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Net change in liabilities 482.1 617.3 526.1 891.4 1135.7 1373.2 814.4 606.2 386.1 1579.8 1

 2 Household sector 0.7 0.8 0.3 -1.4 2.1 0.1 -0.4 0.9 0.9 1.6 2

 3 Nonfinancial corporate business 163.9 201.9 -23.5 380.9 536.1 662.5 17.1 15.4 33.3 382.5 3

 4 Nonfinancial noncorporate business 13.5 29.7 56.5 92.3 73.8 86.0 54.9 19.0 23.0 68.9 4

 5 Federal government 25.3 51.8 40.6 34.1 38.2 22.9 53.0 39.5 41.7 59.3 5

 6 Rest of the world 142.3 139.2 134.7 172.5 308.5 178.0 151.7 139.9 87.9 532.6 6

 7 Monetary authority 1.4 -0.0 2.1 0.6 -0.9 1.0 -2.3 1.1 0.2 4.2 7

 8 U.S.-chartered depository institutions 18.2 38.4 74.7 -35.4 -48.8 131.1 11.6 215.8 -19.3 291.5 8

 9 Foreign banking offices in U.S. 50.9 -13.3 56.2 5.8 -45.0 27.9 -23.1 44.8 -33.4 -119.2 9

10 Banks in U.S.-affiliated areas 3.1 0.4 4.6 6.9 2.4 0.2 5.3 -1.0 3.4 11.8 10

11 Credit unions -1.9 0.0 0.1 0.5 0.9 -0.4 -1.8 1.9 1.7 1.9 11

12 Property-casualty insurance companies 22.8 12.3 10.7 5.6 13.8 6.0 29.2 51.8 49.6 43.0 12

13 Life insurance companies 3.7 18.9 27.0 -2.5 5.6 -18.3 42.9 51.1 18.5 7.9 13

14 Government-sponsored enterprises 6.0 0.6 8.9 21.0 -5.5 -0.1 51.1 40.2 -36.9 -7.9 14

15 Finance companies 20.6 3.6 -0.5 -10.5 72.1 133.9 53.9 67.8 127.1 53.2 15

16 REITs 1.4 2.5 8.8 13.6 4.6 1.8 0.1 2.8 1.5 8.3 16

17 Brokers and dealers 13.0 30.6 27.2 42.5 9.1 -3.9 145.4 -83.0 38.8 70.8 17

18 Holding companies 26.2 18.0 39.3 64.1 -13.2 49.6 73.6 41.6 62.8 162.7 18

19 Funding corporations -29.0 81.9 58.4 100.8 181.7 95.0 152.2 -43.3 -14.8 6.5 19

20 Net change in assets 650.7 787.4 920.5 1061.3 1373.6 1785.1 1120.4 700.9 654.4 1801.2 20

21 Household sector 17.6 10.6 12.7 9.2 11.4 6.1 19.0 47.1 56.4 52.5 21

22 Nonfinancial corporate business 318.0 303.2 139.1 421.5 659.9 817.8 252.2 203.0 -0.2 554.4 22

23 Nonfinancial noncorporate business 37.4 36.3 56.6 124.9 82.5 89.9 130.5 41.0 51.0 236.0 23

24 State and local governments 54.7 1.4 71.5 16.1 -12.9 -21.6 -15.1 -26.2 -7.6 -23.1 24

25 Federal government -2.1 -6.7 -3.5 7.1 5.1 4.6 2.0 3.1 2.0 3.3 25

26 Rest of the world 115.9 142.9 211.9 170.2 432.8 536.8 357.4 168.0 61.7 373.5 26

27 Monetary authority -3.2 2.4 1.3 4.9 -1.3 1.1 -0.4 1.4 1.3 1.5 27

28 U.S.-chartered depository institutions -40.5 28.8 66.5 -30.4 27.4 38.2 26.6 145.9 81.4 213.9 28

29 Foreign banking offices in U.S. 6.3 -19.8 38.8 2.4 -27.2 -24.8 14.0 0.1 -17.9 -119.4 29

30 Banks in U.S.-affiliated areas 1.6 0.8 1.8 3.1 -1.0 -2.1 5.9 -6.0 -2.2 0.9 30

31 Credit unions -0.8 -0.2 3.8 6.8 -16.4 4.9 5.4 12.1 -4.1 -1.8 31

32 Property-casualty insurance companies 3.8 3.6 6.1 6.9 7.1 4.4 -1.4 11.2 3.6 9.1 32

33 Life insurance companies 13.7 7.6 25.8 20.9 -11.3 29.1 17.3 -8.5 24.0 22.9 33

34 Private pension funds -0.3 30.0 8.3 -5.9 -17.1 -58.1 -56.3 14.3 -20.9 -34.7 34

35 State and local govt. retirement funds 0.2 0.7 0.1 0.2 1.3 1.1 1.8 0.4 0.9 4.6 35

36 Federal government retirement funds 20.8 55.1 40.3 41.2 41.1 20.9 60.8 24.5 24.7 40.9 36

37 Money market mutual funds 11.6 4.4 14.3 7.6 24.9 7.5 -3.3 -8.6 -0.2 -2.9 37

38 Mutual funds 0.5 -1.7 7.1 -4.2 -3.5 -0.6 -2.6 0.0 1.0 5.1 38

39 Government-sponsored enterprises -0.9 6.9 7.6 -0.1 5.0 -4.0 5.5 22.0 18.5 4.5 39

40 Finance companies 5.3 4.7 14.4 -34.2 14.1 34.5 15.7 13.6 39.5 -26.1 40

41 REITs 1.0 -1.7 4.9 10.7 -1.3 1.9 0.6 2.6 4.3 11.1 41

42 Brokers and dealers 10.3 68.2 82.8 115.9 28.3 133.0 156.6 -110.8 156.6 148.6 42

43 Holding companies 55.3 44.8 58.9 119.0 56.3 117.7 125.9 111.8 162.8 284.8 43

44 Funding corporations 24.5 65.2 49.4 47.2 68.4 46.7 2.1 38.7 18.2 41.5 44

45 Discrepancy -168.6 -170.1 -394.4 -170.0 -237.9 -412.0 -306.1 -94.6 -268.3 -221.3 45
FFA, 1995-2004, December 6, 2012 51

F.229 Identified Miscellaneous Financial Claims - Part I

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 U.S. direct investment abroad (1):

 1 Liab.: Rest of the world 98.8 91.9 104.8 142.6 224.9 159.2 142.3 154.5 149.6 316.2 1

 2 Equity 40.5 27.5 40.8 72.4 98.9 78.0 60.9 42.7 35.5 133.3 2

 3 Reinvested earnings 53.9 54.7 58.0 44.2 64.2 93.6 69.8 85.3 120.7 162.9 3

 4 Intercompany accounts 4.4 9.7 6.0 26.0 61.8 -12.4 11.6 26.5 -6.6 20.0 4

 5 Asset: Nonfinancial corporate business 90.3 76.8 84.3 129.2 200.7 138.0 123.8 131.1 125.3 272.4 5

 6 U.S.-chartered depository institutions 1.6 3.5 3.0 2.0 2.9 10.9 1.8 3.0 6.5 8.2 6

 7 Property-casualty insurance companies 3.8 3.6 6.1 6.9 7.1 4.4 -1.4 11.2 3.6 9.1 7

 8 Life insurance companies 0.4 0.8 1.8 0.7 1.5 1.1 1.3 2.9 0.9 1.8 8

 9 Finance companies 2.5 7.3 9.0 0.5 8.5 -0.6 -0.6 0.8 1.8 -8.9 9

10 Brokers and dealers 0.1 -0.1 0.7 3.4 4.2 5.5 17.5 5.4 11.6 33.6 10

 Foreign direct investment in U.S. (1):

11 Liab.: Nonfinancial corporate business 54.9 71.5 99.0 144.9 183.6 249.4 141.5 74.5 40.2 95.7 11

12 Nonfinancial noncorporate business -0.1 0.3 0.5 0.2 0.2 0.1 -0.2 0.2 -0.4 0.1 12

13 Foreign banking offices in U.S. 6.6 -0.1 7.7 5.5 19.5 5.8 6.4 2.1 4.2 17.9 13

14 Property-casualty insurance companies 2.0 5.7 5.9 1.3 11.3 6.8 3.1 7.7 3.0 -4.8 14

15 Life insurance companies 1.8 1.0 7.0 2.7 11.7 30.1 3.4 3.7 -5.2 20.8 15

16 Finance companies 0.8 1.5 1.2 3.5 6.9 10.9 6.2 0.1 18.8 13.0 16

17 Brokers and dealers 1.9 3.6 5.9 -0.6 5.2 3.1 5.6 -3.6 2.9 3.1 17

18 Funding corporations -10.2 2.9 -21.6 21.6 51.0 15.1 1.1 -0.4 0.2 0.3 18

19 Asset: Rest of the world 57.8 86.5 105.6 179.0 289.4 321.3 167.0 84.4 63.8 146.0 19

20 Equity 47.9 63.7 59.5 147.1 221.6 259.6 140.9 105.3 93.4 92.9 20

21 Reinvested earnings 8.4 8.5 15.0 2.8 4.1 -0.3 -33.8 1.6 14.3 49.5 21

22 Intercompany accounts 1.5 14.3 31.1 29.1 63.8 61.9 60.0 -22.6 -44.0 3.5 22

 Federal government equity in IBRD, etc.:

23 Liab.: Rest of the world 1.5 1.8 1.6 1.6 1.5 1.5 1.7 1.5 1.4 2.0 23

24 Asset: Federal government 1.5 1.8 1.6 1.6 1.5 1.5 1.7 1.5 1.4 2.0 24

 Federal Reserve Bank stock:

25 Liab.: Monetary authority 0.3 0.6 0.8 0.5 0.5 0.6 0.4 1.0 0.5 3.1 25

26 Asset: U.S.-chartered depository institutions 0.3 0.6 0.8 0.5 0.5 0.6 0.4 1.0 0.5 3.1 26

 Equity in govt.-sponsored enterprises:

27 Liab.: Government-sponsored enterprises 2.0 1.5 1.8 4.1 6.1 2.2 3.3 2.0 3.2 2.5 27

28 Asset: Nonfin. corporate business (Fannie Mae and FCS) 0.0 -0.1 0.0 0.0 0.0 0.0 0.1 0.0 0.1 0.1 28

29 Nonfinancial noncorporate (FCS) -0.1 0.1 -0.0 0.0 -0.0 0.0 0.5 0.1 0.6 0.0 29

30 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 30

31 U.S.-chartered depository institutions (FHLB) 2.0 1.3 1.7 3.9 5.7 2.0 2.6 1.4 1.6 1.6 31

32 Credit unions (FHLB) 0.1 0.0 0.0 0.1 0.2 0.1 0.2 0.3 0.2 0.2 32

33 Life insurance companies (FHLB) -0.0 0.1 0.0 0.0 0.1 0.0 -0.1 0.2 0.7 0.6 33

 Holding company net transactions with subsidiaries:

34 Liab.: U.S.-chartered depository institutions 38.9 33.7 31.3 61.2 24.4 94.8 60.3 66.5 19.8 219.1 34

35 Property-casualty insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 35

36 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 -1.4 4.0 3.8 2.5 36

37 Finance companies 3.4 2.9 3.6 0.9 47.9 25.3 35.7 16.2 20.8 52.3 37

38 Brokers and dealers 6.5 -10.3 3.5 38.2 -31.0 2.6 -15.8 -22.5 19.7 2.1 38

39 Rest of the world 3.8 4.1 -0.8 -0.6 4.1 -32.5 -3.3 -0.6 44.1 -25.6 39

40 Asset: Holding companies 52.7 30.4 37.7 99.6 45.5 90.1 75.6 63.5 108.3 250.4 40

 NFC investment in finance company subsidiaries:

41 Liab.: Finance companies 5.9 0.6 4.9 -10.0 10.6 65.2 -17.8 6.9 2.6 2.6 41

42 Asset: Nonfinancial corporate business 5.9 0.6 4.9 -10.0 10.6 65.2 -17.8 6.9 2.6 2.6 42

 Funding corporations’ investment in subsidiaries:

43 Liab.: Foreign banking offices in U.S. 6.7 13.7 14.3 11.8 2.5 45.6 -21.9 18.6 7.4 33.0 43

44 Brokers and dealers 17.8 51.5 35.0 35.5 65.9 1.1 24.0 20.2 10.7 8.4 44

45 Asset: Funding corporations 24.5 65.2 49.4 47.2 68.4 46.7 2.1 38.7 18.2 41.5 45

 Equity investment under Public-Private Inv. Program:

46 Liab.: Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 46

47 Asset: Households (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 47

48 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 48

(1) Direct investment is valued on a current-cost basis. Excludes capital gains and losses. Components of direct investment--equity, reinvested earnings, intercompany accounts--

 are not available before 1982.

(2) Funds invested by financial institutions such as domestic hedge funds through the Public-Private Investment Program (PPIP).
52 FFA, 1995-2004, December 6, 2012

F.230 Identified Miscellaneous Financial Claims - Part II

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 Nonofficial foreign currencies:

 1 Liab.: Rest of the world 0.3 -0.1 -0.0 -0.1 0.6 0.0 -0.1 0.1 0.2 -0.0 1

 2 Asset: Federal government 0.3 -0.1 -0.0 -0.1 0.6 0.0 -0.1 0.1 0.2 -0.0 2

 3 Monetary authority (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 Postal Savings System deposits:

 4 Liab.: Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Asset: Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 Deposits at Federal Home Loan Banks:

 6 Liab.: Government-sponsored enterprises 3.3 -1.2 0.0 6.8 -7.8 0.0 8.6 1.9 -7.1 -2.1 6

 7 Asset: U.S.-chartered depository institutions 3.3 -1.2 0.0 6.8 -7.8 0.0 8.6 1.9 -7.1 -2.1 7

 Deferred and unpaid life insurance premiums:

 8 Liab.: Household sector 0.7 0.8 0.3 -1.4 2.1 0.1 -0.4 0.9 0.9 1.6 8

 9 Asset: Life insurance companies 0.7 0.8 0.3 -1.4 2.1 0.1 -0.4 0.9 0.9 1.6 9

 Life insurance company reserves:

10 Liab.: Life insurance companies 8.0 7.8 10.7 10.3 11.4 6.9 6.5 10.2 13.9 11.4 10

11 Accident and health 5.2 6.2 6.3 7.3 10.2 3.9 3.1 10.1 10.9 9.8 11

12 Policy dividend accumulation 0.8 0.8 2.0 0.7 1.2 1.1 1.0 0.1 -0.0 1.2 12

13 Contract claims 2.0 0.8 2.4 2.4 -0.0 1.9 2.4 0.0 3.0 0.5 13

14 Asset: Household sector 8.0 7.8 10.7 10.3 11.4 6.9 6.5 10.2 13.9 11.4 14

 Policy payables:

15 Liab.: Property-casualty insurance companies 20.8 6.6 4.8 4.3 2.5 -0.8 26.1 44.1 46.6 47.9 15

16 Asset: Household sector 9.6 2.8 2.0 -1.0 0.1 -0.7 12.5 21.6 22.9 23.6 16

17 Nonfinancial corporate business 8.5 2.8 2.1 2.3 1.4 0.0 10.8 18.1 19.1 19.7 17

18 Nonfinancial noncorporate business 2.7 1.0 0.7 3.0 1.1 -0.1 2.8 4.5 4.7 4.6 18

 Unallocated insurance company contracts:

19 Liab.: Life insurance companies -12.1 4.8 -9.9 -23.6 -18.5 -35.7 11.8 12.2 -18.1 -35.2 19

20 Asset: Private pension funds -12.1 4.8 -9.9 -23.6 -18.5 -35.7 11.8 12.2 -18.1 -35.2 20

 Pension fund contributions payable:

21 Liab.: Nonfinancial corporate business 5.4 5.4 8.4 12.9 -18.4 -19.1 -24.6 1.5 -0.2 -3.1 21

22 Asset: Private pension funds 5.4 5.4 8.4 12.9 -18.4 -19.1 -24.6 1.5 -0.2 -3.1 22

 Securities borrowed (net):

23 Liab.: Funding corporations -5.5 59.9 57.2 70.0 16.3 88.7 70.1 -2.9 102.6 86.9 23

24 Asset: Brokers and dealers -5.5 59.9 57.2 70.0 16.3 88.7 70.1 -2.9 102.6 86.9 24

 Nonmarketable government securities:

25 Liab.: Federal government 20.8 55.1 40.3 41.2 41.1 20.9 60.8 24.5 24.7 40.9 25

26 Asset: Federal government retirement funds 20.8 55.1 40.3 41.2 41.1 20.9 60.8 24.5 24.7 40.9 26

 Retiree health care funds (2):

27 Liab.: Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15.4 19.6 17.4 27

28 Asset: Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15.4 19.6 17.4 28

(1) Reciprocal currency arrangements (swap lines) with foreign central banks.

(2) Includes Uniform Services Retiree Health Care Fund and Postal Service Retiree Health Benefits Fund.
FFA, 1995-2004, December 6, 2012 53

F.231 Unidentified Miscellaneous Financial Claims

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Net change in liabilities 197.0 199.8 107.8 306.3 459.5 625.4 280.9 145.7 -144.4 650.0 1

 2 Nonfinancial corporate business 103.6 125.0 -130.9 223.1 370.9 432.2 -99.9 -60.7 -6.8 290.0 2

 3 Nonfinancial noncorporate business 13.6 29.4 56.0 92.1 73.7 85.9 55.2 18.7 23.4 68.8 3

 4 Federal government 4.5 -3.3 0.3 -7.1 -2.9 2.0 -7.8 -0.4 -2.6 1.0 4

 5 Rest of the world 37.9 41.5 29.1 29.0 77.3 49.8 11.1 -15.5 -107.4 240.0 5

 6 Monetary authority 1.1 -0.7 1.3 0.1 -1.4 0.4 -2.7 0.1 -0.3 1.2 6

 7 U.S.-chartered depository institutions -20.7 4.7 43.4 -96.5 -73.2 36.3 -48.8 149.2 -39.1 72.4 7

 8 Foreign banking offices in U.S. 37.6 -26.9 34.2 -11.4 -67.0 -23.6 -7.7 24.1 -44.9 -170.1 8

 9 Banks in U.S.-affiliated areas 3.1 0.4 4.6 6.9 2.4 0.2 5.3 -1.0 3.4 11.8 9

10 Credit unions -1.9 0.0 0.1 0.5 0.9 -0.4 -1.8 1.9 1.7 1.9 10

11 Life insurance companies 5.9 5.3 19.2 8.0 1.0 -19.7 22.5 21.0 24.0 8.4 11

12 Government-sponsored enterprises 0.8 0.3 7.1 10.1 -3.7 -2.4 39.3 36.3 -33.0 -8.3 12

13 Finance companies 10.5 -1.4 -10.3 -4.8 6.7 32.5 29.8 44.7 85.0 -14.7 13

14 REITs 1.4 2.5 8.8 13.6 4.6 1.8 0.1 2.8 1.5 8.3 14

15 Brokers and dealers -13.3 -14.1 -17.2 -30.6 -31.1 -10.6 131.7 -77.0 5.5 57.2 15

16 Holding companies 26.2 18.0 39.3 64.1 -13.2 49.6 73.6 41.6 62.8 162.7 16

17 Funding corporations -13.3 19.0 22.8 9.1 114.4 -8.7 81.0 -40.1 -117.6 -80.7 17

18 Net change in assets 365.6 369.9 502.2 476.3 697.3 1037.3 586.9 240.4 123.9 871.3 18

19 Nonfinancial corporate business 213.4 223.1 47.8 300.1 447.2 614.6 135.4 46.9 -147.2 259.7 19

20 Nonfinancial noncorporate business 34.7 35.2 55.9 121.9 81.4 90.0 127.3 36.5 45.8 231.4 20

21 State and local governments 54.7 1.4 71.5 16.1 -12.9 -21.6 -15.1 -26.2 -7.6 -23.1 21

22 Federal government -3.8 -8.4 -5.0 5.7 3.0 3.1 0.4 1.5 0.4 1.4 22

23 Rest of the world 58.1 56.4 106.3 -8.9 143.4 215.5 190.3 83.6 -2.1 227.5 23

24 Monetary authority -3.2 2.4 1.3 4.9 -1.3 1.1 -0.4 1.4 1.3 1.5 24

25 U.S.-chartered depository institutions -47.7 24.6 61.0 -43.6 26.1 24.7 13.3 138.6 79.9 203.2 25

26 Foreign banking offices in U.S. 6.3 -19.8 38.8 2.4 -27.2 -24.8 14.0 0.1 -17.9 -119.4 26

27 Banks in U.S.-affiliated areas 1.6 0.8 1.8 3.1 -1.0 -2.1 5.9 -6.0 -2.2 0.9 27

28 Credit unions -0.9 -0.2 3.7 6.7 -16.6 4.8 5.2 11.8 -4.3 -2.1 28

29 Life insurance companies 12.6 5.8 23.7 21.6 -15.0 27.8 16.5 -12.5 21.5 19.0 29

30 Private pension funds 6.3 19.8 9.8 4.8 19.8 -3.4 -43.5 0.6 -2.7 3.6 30

31 State and local govt. retirement funds 0.2 0.7 0.1 0.2 1.3 1.1 1.8 0.4 0.9 4.6 31

32 Money market mutual funds 11.6 4.4 14.3 7.6 24.9 7.5 -3.3 -8.6 -0.2 -2.9 32

33 Mutual funds 0.5 -1.7 7.1 -4.2 -3.5 -0.6 -2.6 0.0 1.0 5.1 33

34 Government-sponsored enterprises -0.9 6.9 7.6 -0.1 5.0 -4.0 5.5 22.0 18.5 4.5 34

35 Finance companies 2.9 -2.7 5.5 -34.7 5.6 35.2 16.4 12.8 37.7 -17.2 35

36 REITs 1.0 -1.7 4.9 10.7 -1.3 1.9 0.6 2.6 4.3 11.1 36

37 Brokers and dealers 15.7 8.4 24.9 42.6 7.7 38.9 69.0 -113.3 42.5 28.1 37

38 Holding companies 2.6 14.3 21.3 19.4 10.8 27.7 50.3 48.3 54.5 34.4 38

39 Discrepancy -168.6 -170.1 -394.4 -170.0 -237.9 -412.0 -306.1 -94.6 -268.3 -221.3 39
54 FFA, 1995-2004, December 6, 2012

F.11 Sector Discrepancies

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 All sectors -185.3 -167.2 -254.6 -76.3 -150.1 -9.6 -134.9 193.3 -111.5 -81.1 1

 2 Household sector -14.6 -67.5 -32.2 -23.9 101.0 348.7 8.2 205.1 -26.7 -129.8 2

 3 Nonfinancial corporate business -48.5 -27.2 -12.2 -57.4 -101.2 -179.3 -132.2 10.8 -8.4 -75.5 3

 4 State and local governments -69.8 -56.2 -49.6 -89.3 -68.1 -72.0 -65.6 -48.2 -26.3 -57.3 4

 5 Federal government -16.4 31.1 1.3 14.8 -20.5 -19.4 27.2 12.2 51.4 2.9 5

 6 Rest of the world 22.9 -20.1 -88.9 137.8 62.4 -67.0 -34.7 -48.3 -12.8 86.4 6

 7 Financial sectors -58.9 -27.3 -73.0 -58.3 -123.6 -20.6 62.3 61.7 -88.7 92.2 7

 8 Monetary authority -2.4 0.3 1.1 -3.4 -1.4 4.2 0.9 -2.2 -2.7 -1.3 8

 9 U.S.-chartered depository institutions 3.7 0.7 -23.8 -25.9 -96.1 55.1 86.1 76.1 -46.3 77.1 9

10 Foreign banking officed in U.S. 0.7 0.1 -0.2 -0.5 -0.4 -0.1 -0.0 0.2 0.1 -0.1 10

11 Banks in U.S.-affiliated areas -0.3 -0.2 -0.5 0.2 0.3 -1.2 0.5 -1.0 -1.0 0.6 11

12 Credit unions 0.7 1.4 -0.1 -0.1 1.0 -0.4 0.5 0.4 1.5 1.7 12

13 Property-casualty insurance companies -18.0 -6.5 -39.1 -16.6 14.3 -11.2 5.0 -26.8 -7.8 -15.8 13

14 Life insurance companies -38.3 -40.0 -42.8 -31.5 -29.1 -22.5 -9.6 -22.9 -37.0 -34.2 14

15 Mutual funds 8.7 4.9 6.2 -9.1 4.1 -1.5 -6.6 -21.4 2.5 3.6 15

16 Government-sponsored enterprises -2.4 0.1 -3.4 -0.8 2.3 -0.8 14.9 22.2 -26.5 -9.0 16

17 Issuers of asset-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

18 Finance companies -2.3 4.4 -13.4 -16.2 -18.9 11.9 -8.6 18.5 38.0 27.5 18

19 REITs 8.7 19.5 55.5 68.3 17.5 -7.3 5.1 22.5 14.5 40.7 19

20 Brokers and dealers -15.4 -8.5 -8.9 -17.6 -11.3 -42.9 -23.8 3.6 -20.2 2.2 20

21 Holding companies -2.4 -3.6 -3.5 -5.2 -5.8 -4.0 -2.0 -7.5 -3.8 -0.8 21

F.12 Instrument Discrepancies

Billions of dollars

 1 All types -185.3 -167.2 -254.6 -76.3 -150.1 -9.6 -134.9 193.3 -111.5 -81.1 1

 2 Treasury currency -0.3 -0.4 -0.1 -0.2 -0.7 -1.2 -0.1 -0.6 -0.3 -0.3 2

 3 Foreign deposits 25.0 59.4 106.2 -5.7 34.0 76.4 -12.9 21.5 52.8 61.9 3

 4 Net interbank transactions -4.7 -3.0 -21.5 -4.1 -7.8 18.7 -0.7 4.2 -8.7 15.8 4

 5 Security RPs 24.9 -3.4 42.7 21.8 -16.8 113.5 98.1 71.9 160.6 0.9 5

 6 Mail floats -9.8 -3.6 -6.6 -0.5 -8.2 8.7 -40.5 -2.3 -8.9 18.2 6

 7 State and local governments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Federal government -6.0 0.5 -2.7 2.6 -7.4 9.0 -40.0 -1.6 -8.9 27.9 8

 9 Private domestic -3.8 -4.0 -3.9 -3.1 -0.8 -0.3 -0.5 -0.7 -0.0 -9.7 9

10 Trade credit 3.8 -27.6 -22.5 -18.1 15.4 16.3 7.1 165.1 33.2 23.9 10

11 Taxes payable 16.0 13.9 27.7 17.6 9.3 39.7 20.6 9.7 -36.3 -13.1 11

12 Miscellaneous -168.6 -170.1 -394.4 -170.0 -237.9 -412.0 -306.1 -94.6 -268.3 -221.3 12

13 Nonfinancial -71.6 -32.4 13.9 82.9 62.6 130.4 99.6 18.3 -35.6 33.0 13

 Nonfinancial components (sign reversed):

14 Statistical discrepancy (NIPA) 52.5 25.9 -14.0 -85.3 -71.1 -134.0 -103.4 -22.1 16.7 -22.4 14

15 Private wage accruals less disbursements 16.4 3.6 -2.9 -0.7 5.2 0.0 0.0 0.0 15.0 -15.0 15

16 Contr. for govt. soc. insur., U.S. affiliated areas 2.7 2.8 3.0 3.1 3.3 3.6 3.7 3.8 3.9 4.4 16
FFA, 1995-2004, December 6, 2012 55

L.1 Credit Market Debt Outstanding (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total credit market debt owed by: 18604.2 19922.6 21329.9 23414.0 25476.1 27208.1 29388.6 31900.1 34700.5 38659.0 1

 2 Domestic nonfinancial sectors 13810.3 14515.9 15306.5 16304.6 17351.4 18225.2 19366.4 20789.1 22502.7 25321.9 2

 3 Household sector 4846.1 5183.8 5489.4 5902.9 6377.6 6963.5 7627.8 8439.1 9462.0 10533.5 3

 4 Nonfinancial corporate business 3106.1 3279.1 3588.3 3979.7 4391.9 4766.4 4979.9 5037.5 5137.8 5389.1 4

 5 Nonfinancial noncorporate business 1174.6 1245.1 1347.1 1526.1 1719.9 1912.3 2075.7 2227.6 2301.4 2556.1 5

 6 State and local governments 1046.7 1026.2 1076.9 1143.8 1181.0 1197.9 1303.4 1447.9 1568.4 2448.2 6

 7 Federal government 3636.7 3781.7 3804.8 3752.2 3681.0 3385.1 3379.5 3637.0 4033.1 4395.0 7

 8 Rest of the world 567.6 657.2 723.6 783.2 748.2 814.5 865.4 1072.8 1253.3 1438.8 8

 9 Financial sectors 4226.3 4749.5 5299.7 6326.2 7376.5 8168.4 9156.8 10038.2 10944.5 11898.3 9

10 U.S.-chartered depository institutions 192.7 228.5 274.3 368.9 474.4 531.0 557.7 559.9 592.4 673.6 10

11 Foreign banking offices in U.S. 10.4 9.6 7.2 2.4 2.0 2.0 1.1 0.7 0.6 0.7 11

12 Credit unions 0.4 0.4 0.6 1.1 3.4 3.4 4.9 6.9 9.1 11.4 12

13 Life insurance companies 0.5 1.6 1.8 2.5 3.2 2.5 3.1 5.1 8.0 11.1 13

14 Government-sponsored enterprises 807.0 897.4 996.5 1275.4 1594.2 1826.4 2130.6 2350.4 2601.3 2676.3 14

15 Agency- and GSE-backed mortgage pools 1570.7 1711.7 1826.3 2019.0 2293.5 2493.2 2831.8 3158.6 3343.3 3384.0 15

16 ABS issuers 666.4 781.0 918.3 1176.4 1330.3 1503.5 1758.6 1987.1 2222.9 2662.5 16

17 Finance companies 500.4 555.1 584.4 645.3 720.9 807.1 818.0 884.2 995.3 1129.6 17

18 REITs 44.6 56.5 96.1 158.8 164.8 167.6 171.4 198.4 230.7 340.1 18

19 Brokers and dealers 29.3 27.3 35.3 42.5 25.3 40.9 42.3 40.6 47.0 62.2 19

20 Holding companies 155.3 168.0 186.3 221.2 260.4 288.2 305.5 325.1 376.0 431.7 20

21 Funding corporations 248.6 312.4 372.6 412.6 504.2 502.6 531.9 521.2 518.1 515.1 21

22 Total credit market assets held by: 18604.2 19922.6 21329.9 23414.0 25476.1 27208.1 29388.6 31900.1 34700.5 38659.0 22

23 Domestic nonfinancial sectors 3543.8 3673.2 3636.6 3801.2 4029.5 4028.3 4025.0 4280.2 4565.4 5771.6 23

24 Household sector 2379.7 2545.0 2501.4 2554.6 2670.9 2563.6 2460.1 2596.0 2842.4 3876.1 24

25 Nonfinancial corporate business 280.4 270.2 263.0 246.0 221.8 248.3 243.6 269.5 266.8 298.0 25

26 Nonfinancial noncorporate business 47.6 51.6 54.2 67.1 64.0 66.0 73.1 72.4 73.9 85.4 26

27 State and local governments 638.6 604.8 605.0 714.6 816.5 887.3 981.2 1067.4 1109.9 1237.4 27

28 Federal government 197.6 201.6 213.1 218.8 256.3 263.1 267.0 275.0 272.4 274.7 28

29 Rest of the world 1464.8 1795.6 2035.6 2202.0 2196.1 2451.1 2850.2 3303.0 3836.1 4634.7 29

30 Financial sectors 13595.5 14453.8 15657.6 17410.8 19250.5 20728.7 22513.4 24316.9 26299.1 28252.6 30

31 Monetary authority 380.8 393.1 431.4 452.5 478.1 511.8 551.7 629.4 666.7 717.8 31

32 U.S.-chartered depository institutions 3954.9 4093.0 4359.8 4697.2 5098.5 5486.8 5720.7 6143.7 6642.5 7311.0 32

33 Foreign banking offices in U.S. 412.4 475.8 516.0 504.4 487.4 511.3 510.7 516.9 490.3 512.5 33

34 Banks in U.S.-affiliated areas 33.4 34.1 37.8 43.8 48.3 55.0 65.0 66.3 76.9 90.8 34

35 Credit unions 263.0 288.5 305.3 324.2 351.7 379.7 421.2 465.4 516.6 556.4 35

36 Property-casualty insurance companies 493.1 514.2 538.2 548.9 536.5 534.3 536.6 584.7 660.5 746.5 36

37 Life insurance companies 1587.5 1657.0 1751.1 1828.0 1886.0 1943.9 2071.5 2300.3 2478.8 2643.9 37

38 Private pension funds 608.4 602.3 646.8 639.7 746.9 621.9 587.0 581.7 653.5 654.6 38

39 State and local govt. retirement funds 509.8 538.4 598.3 661.5 707.0 743.2 689.4 638.7 657.5 675.3 39

40 Federal government retirement funds 23.3 25.6 27.5 30.2 33.1 35.1 44.8 58.0 64.8 70.0 40

41 Money market mutual funds 545.5 634.3 721.9 970.5 1155.3 1317.5 1584.9 1567.1 1471.3 1346.3 41

42 Mutual funds 771.3 820.2 901.1 1028.4 1076.8 1103.1 1229.7 1368.4 1506.4 1623.0 42

43 Closed-end funds 94.5 97.4 96.3 101.2 110.8 105.3 108.5 117.1 152.6 163.6 43

44 Exchange-traded funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3.7 4.5 8.2 44

45 Government-sponsored enterprises 762.8 833.8 934.2 1251.5 1538.8 1794.4 2099.1 2323.1 2564.1 2613.0 45

46 Agency- and GSE-backed mortgage pools 1570.7 1711.7 1826.3 2019.0 2293.5 2493.2 2831.8 3158.6 3343.3 3384.0 46

47 ABS issuers 612.0 712.2 826.5 1078.8 1253.3 1413.6 1662.6 1897.8 2125.1 2555.1 47

48 Finance companies 654.6 697.1 720.8 812.8 946.6 1101.9 1170.7 1292.5 1468.7 1675.9 48

49 REITs 26.0 30.4 50.6 45.5 44.1 38.9 48.0 70.2 96.6 199.1 49

50 Brokers and dealers 183.4 167.7 182.6 189.4 154.7 223.6 316.0 344.4 424.1 394.9 50

51 Holding companies 18.0 22.0 27.4 26.5 32.7 20.5 24.7 27.8 36.4 36.4 51

52 Funding corporations 90.1 104.9 157.9 157.2 270.3 293.6 238.8 160.9 198.1 274.3 52

(1) Excludes corporate equities and mutual fund shares.
56 FFA, 1995-2004, December 6, 2012

L.2 Credit Market Debt Owed by Nonfinancial Sectors

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Domestic 13810.3 14515.9 15306.5 16304.6 17351.4 18225.2 19366.4 20789.1 22502.7 25321.9 1

 2 By instrument 13810.3 14515.9 15306.5 16304.6 17351.4 18225.2 19366.4 20789.1 22502.7 25321.9 2

 3 Commercial paper 157.4 156.4 168.6 193.0 230.3 278.4 177.7 119.8 82.5 97.8 3

 4 Treasury securities 3608.5 3755.1 3778.3 3723.7 3652.7 3357.8 3352.7 3609.8 4008.2 4370.7 4

 5 Agency- and GSE-backed securities 28.2 26.6 26.5 28.5 28.3 27.3 26.8 27.3 24.9 24.3 5

 6 Municipal securities 1268.2 1261.6 1318.5 1402.7 1457.1 1480.7 1603.4 1762.8 1900.4 2821.2 6

 7 Corporate bonds 1507.4 1619.3 1779.6 1997.2 2207.9 2375.8 2721.9 2858.7 3014.2 3101.9 7

 8 Depository institution loans n.e.c. 882.2 932.1 1042.2 1143.8 1219.5 1321.3 1244.6 1141.3 1089.3 1106.6 8

 9 Other loans and advances 689.4 717.1 777.2 842.8 870.6 957.5 957.1 992.4 997.7 1050.6 9

10 Mortgages 4500.9 4773.8 5071.4 5531.6 6131.4 6685.0 7390.3 8280.0 9282.7 10528.7 10

11 Home 3445.4 3681.6 3916.2 4272.4 4697.5 5122.2 5673.9 6428.8 7252.5 8288.7 11

12 Multifamily residential 265.9 275.6 282.4 307.8 357.9 384.4 425.0 462.3 535.3 582.3 12

13 Commercial 717.9 742.2 794.3 868.3 988.8 1093.7 1202.8 1293.5 1411.8 1562.0 13

14 Farm 71.7 74.4 78.5 83.1 87.2 84.7 88.5 95.4 83.2 95.7 14

15 Consumer credit 1168.2 1273.9 1344.2 1441.3 1553.6 1741.3 1891.8 1997.0 2102.9 2220.1 15

16 By sector 13810.3 14515.9 15306.5 16304.6 17351.4 18225.2 19366.4 20789.1 22502.7 25321.9 16

17 Household sector 4846.1 5183.8 5489.4 5902.9 6377.6 6963.5 7627.8 8439.1 9462.0 10533.5 17

18 Nonfinancial business 4280.7 4524.2 4935.4 5505.8 6111.8 6678.7 7055.7 7265.1 7439.2 7945.2 18

19 Corporate 3106.1 3279.1 3588.3 3979.7 4391.9 4766.4 4979.9 5037.5 5137.8 5389.1 19

20 Noncorporate 1174.6 1245.1 1347.1 1526.1 1719.9 1912.3 2075.7 2227.6 2301.4 2556.1 20

21 State and local governments 1046.7 1026.2 1076.9 1143.8 1181.0 1197.9 1303.4 1447.9 1568.4 2448.2 21

22 Federal government 3636.7 3781.7 3804.8 3752.2 3681.0 3385.1 3379.5 3637.0 4033.1 4395.0 22

 Foreign credit market debt

23 held in U.S. 567.6 657.2 723.6 783.2 748.2 814.5 865.4 1072.8 1253.3 1438.8 23

24 Commercial paper 56.2 67.5 65.1 72.9 89.2 120.9 198.5 257.2 276.1 345.3 24

25 Bonds 413.3 481.4 543.4 594.4 548.2 572.7 557.1 702.7 868.9 985.0 25

26 Depository institution loans n.e.c. 34.6 43.7 52.1 58.7 59.2 70.5 63.2 68.6 66.1 69.9 26

27 Other loans and advances 63.6 64.7 63.0 57.2 51.6 50.4 46.6 44.3 42.2 38.6 27

28 Domestic and foreign 14377.9 15173.1 16030.2 17087.8 18099.6 19039.7 20231.7 21861.9 23756.0 26760.7 28

L.3 Credit Market Debt Owed by Financial Sectors

Billions of dollars

 1 By instrument 4226.3 4749.5 5299.7 6326.2 7376.5 8168.4 9156.8 10038.2 10944.5 11898.3 1

 2 Open market paper 486.9 579.1 745.7 906.7 1082.9 1214.7 1097.8 997.9 934.4 956.0 2

 3 GSE issues 807.0 897.4 996.5 1275.4 1594.2 1826.4 2130.6 2350.4 2601.3 2676.3 3

 4 Agency- and GSE-backed mortgage pool sec. 1570.7 1711.7 1826.3 2019.0 2293.5 2493.2 2831.8 3158.6 3343.3 3384.0 4

 5 Corporate bonds 1158.5 1300.4 1410.3 1657.1 1805.7 1983.4 2407.1 2805.9 3279.2 3962.6 5

 6 Depository institution loans n.e.c. 44.1 66.0 75.6 107.6 125.5 128.8 140.1 158.0 178.9 212.2 6

 7 Other loans and advances 135.0 162.9 198.5 288.7 395.8 438.3 463.7 470.5 501.7 575.8 7

 8 Mortgages 24.1 31.9 46.8 71.6 78.8 83.6 85.8 97.0 105.9 131.4 8

 9 By sector 4226.3 4749.5 5299.7 6326.2 7376.5 8168.4 9156.8 10038.2 10944.5 11898.3 9

10 U.S.-chartered depository institutions 192.7 228.5 274.3 368.9 474.4 531.0 557.7 559.9 592.4 673.6 10

11 Foreign banking offices in U.S. 10.4 9.6 7.2 2.4 2.0 2.0 1.1 0.7 0.6 0.7 11

12 Credit unions 0.4 0.4 0.6 1.1 3.4 3.4 4.9 6.9 9.1 11.4 12

13 Life insurance companies 0.5 1.6 1.8 2.5 3.2 2.5 3.1 5.1 8.0 11.1 13

14 Government-sponsored enterprises 807.0 897.4 996.5 1275.4 1594.2 1826.4 2130.6 2350.4 2601.3 2676.3 14

15 Agency- and GSE-backed mortgage pools 1570.7 1711.7 1826.3 2019.0 2293.5 2493.2 2831.8 3158.6 3343.3 3384.0 15

16 ABS issuers 666.4 781.0 918.3 1176.4 1330.3 1503.5 1758.6 1987.1 2222.9 2662.5 16

17 Finance companies 500.4 555.1 584.4 645.3 720.9 807.1 818.0 884.2 995.3 1129.6 17

18 REITs 44.6 56.5 96.1 158.8 164.8 167.6 171.4 198.4 230.7 340.1 18

19 Brokers and dealers 29.3 27.3 35.3 42.5 25.3 40.9 42.3 40.6 47.0 62.2 19

20 Holding companies 155.3 168.0 186.3 221.2 260.4 288.2 305.5 325.1 376.0 431.7 20

21 Funding corporations 248.6 312.4 372.6 412.6 504.2 502.6 531.9 521.2 518.1 515.1 21
FFA, 1995-2004, December 6, 2012 57

L.4 Credit Market Debt, All Sectors, by Instrument

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total 18604.2 19922.6 21329.9 23414.0 25476.1 27208.1 29388.6 31900.1 34700.5 38659.0 1

 2 Open market paper 700.4 803.0 979.4 1172.6 1402.4 1614.0 1474.0 1374.9 1292.9 1399.1 2

 3 Treasury securities 3608.5 3755.1 3778.3 3723.7 3652.7 3357.8 3352.7 3609.8 4008.2 4370.7 3

 4 Agency- and GSE-backed securities 2406.0 2635.8 2849.3 3322.9 3916.0 4347.0 4989.1 5536.3 5969.4 6084.5 4

 5 Municipal securities 1268.2 1261.6 1318.5 1402.7 1457.1 1480.7 1603.4 1762.8 1900.4 2821.2 5

 6 Corporate and foreign bonds 3079.2 3401.1 3733.3 4248.7 4561.8 4931.9 5686.1 6367.4 7162.3 8049.4 6

 7 Depository institution loans n.e.c. 960.9 1041.8 1169.9 1310.2 1404.1 1520.7 1447.9 1367.9 1334.2 1388.7 7

 8 Other loans and advances 888.0 944.7 1038.7 1188.7 1318.0 1446.2 1467.4 1507.1 1541.5 1665.0 8

 9 Mortgages 4524.9 4805.7 5118.2 5603.2 6210.3 6768.6 7476.0 8377.0 9388.6 10660.1 9

10 Consumer credit 1168.2 1273.9 1344.2 1441.3 1553.6 1741.3 1891.8 1997.0 2102.9 2220.1 10

 Memo:

 Selected claims not included above:

11 Corporate equities 8481.3 9748.1 12621.8 15354.0 19401.0 17575.0 15628.6 12438.3 16638.5 18940.1 11

12 Mutual fund shares 1852.8 2342.4 2989.4 3613.1 4538.5 4433.1 4135.4 3638.4 4654.2 5436.3 12

L.5 Total Liabilities and Its Relation to Total Financial Assets

Billions of dollars

 Total credit market debt

 1 (from table L.4) 18604.2 19922.6 21329.9 23414.0 25476.1 27208.1 29388.6 31900.1 34700.5 38659.0 1

 2 U.S. official reserve assets 82.1 71.1 65.5 77.6 67.2 63.0 63.8 74.6 82.2 83.4 2

 3 SDR certificates 10.2 9.7 9.2 9.2 6.2 2.2 2.2 2.2 2.2 2.2 3

 4 Treasury currency 18.3 18.9 19.3 19.9 20.9 23.2 24.5 25.5 26.0 26.7 4

 5 Foreign deposits 418.8 521.7 618.5 627.6 676.5 803.3 810.1 831.1 867.1 957.0 5

 6 Net interbank liabilities 280.8 234.1 212.5 172.1 183.5 164.3 114.4 127.7 152.4 147.2 6

 7 Checkable deposits and currency 1211.4 1200.4 1209.2 1220.3 1332.3 1218.8 1360.8 1353.0 1437.4 1522.8 7

 8 Small time and savings deposits 2298.5 2421.1 2550.6 2739.9 2823.7 3054.7 3369.3 3694.7 4002.1 4283.7 8

 9 Large time deposits 476.9 590.9 713.4 805.3 936.4 1052.6 1121.0 1171.0 1226.8 1505.1 9

10 Money market fund shares 741.3 886.7 1042.5 1327.9 1579.6 1812.1 2240.6 2223.9 2016.4 1879.8 10

11 Security RPs 609.2 654.6 754.9 794.6 925.3 1000.9 1009.2 1117.9 1341.8 1422.1 11

12 Mutual fund shares 1852.8 2342.4 2989.4 3613.1 4538.5 4433.1 4135.4 3638.4 4654.2 5436.3 12

13 Security credit 305.7 358.1 469.1 572.2 676.6 822.7 825.9 738.8 858.8 1038.2 13

14 Life insurance reserves 566.2 610.6 665.0 718.3 783.9 819.1 880.0 920.9 1013.2 1060.4 14

15 Pension fund reserves 5725.1 6386.7 7360.7 8265.4 9264.1 9171.3 8764.3 8189.8 9719.4 10635.8 15

16 Trade payables 1443.4 1554.6 1682.8 1787.8 2049.7 2444.2 2359.8 2446.6 2468.1 2662.8 16

17 Taxes payable 94.8 110.8 117.1 130.3 150.5 179.4 191.2 200.6 198.8 219.2 17

18 Miscellaneous 6276.2 6828.1 7242.0 8042.1 9062.4 10249.7 10984.9 11633.6 11887.3 13352.9 18

19 Total liabilities 41015.8 44722.9 49051.5 54337.4 60553.5 64522.7 67646.0 70290.5 76654.5 84894.4 19

 + Financial assets not included in

 liabilities:

20 Gold 11.1 11.0 11.1 11.0 11.0 11.0 11.0 11.0 11.0 11.0 20

21 Corporate equities 8481.3 9748.1 12621.8 15354.0 19401.0 17575.0 15628.6 12438.3 16638.5 18940.1 21

22 Household equity in noncorp. bus. 3569.6 3690.8 4135.0 4386.1 4643.0 5137.2 5334.9 5686.6 6301.4 7548.7 22

 - Liabilities not identified as assets:

23 Treasury currency -5.7 -6.1 -6.2 -6.4 -7.1 -8.5 -8.6 -9.1 -9.5 -9.7 23

24 Foreign deposits 358.4 434.9 535.0 529.2 563.3 643.8 630.9 652.5 705.3 767.2 24

25 Net interbank transactions -37.3 -39.9 -60.9 -65.1 -72.7 -54.1 -55.4 -51.8 -61.0 -45.2 25

26 Security RPs 110.5 108.2 150.9 172.7 155.9 282.8 347.9 419.7 580.4 581.2 26

27 Taxes payable 39.6 -19.7 -16.0 -1.2 10.9 25.6 35.7 36.0 30.2 41.8 27

28 Miscellaneous -1075.5 -1341.3 -1890.7 -2521.5 -3079.3 -4104.3 -4351.0 -4386.8 -4669.1 -5213.4 28

 - Floats not included in assets:

29 Checkable deposits: State and local govt. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

30 Federal govt. 3.1 -1.6 -8.1 -3.9 -9.8 -2.3 -12.3 -11.7 -17.9 11.2 30

31 Private domestic 28.8 24.8 20.9 17.8 17.0 16.7 16.2 15.5 15.5 5.8 31

32 Trade credit -139.8 -167.4 -189.9 -208.1 -188.7 -172.5 -158.6 6.5 39.6 63.6 32

33 Totals identified to sectors as assets 53795.6 59181.1 67284.4 76175.0 87219.2 90618.6 92175.8 91755.7 102992.0 115191.8 33
58 FFA, 1995-2004, December 6, 2012

L.10 Assets and Liabilities of the Personal Sector (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 18811.4 20551.0 23722.5 27019.7 31426.5 30117.6 28997.2 26892.6 31493.0 35600.3 1

 2 Foreign deposits 23.4 35.5 37.2 37.7 40.7 48.3 48.7 49.9 52.1 57.5 2

 3 Checkable deposits and currency 706.3 683.8 665.2 696.1 681.4 586.1 661.8 648.6 648.8 697.5 3

 4 Time and savings deposits 2388.7 2532.9 2680.6 2823.4 2971.8 3296.9 3585.8 3911.7 4279.8 4755.2 4

 5 Money market fund shares 489.5 520.2 594.2 703.9 814.9 986.6 1160.1 1133.0 1023.8 970.6 5

 6 Securities 7979.2 8744.5 10531.4 12359.9 15266.2 13349.1 11839.2 9909.6 12469.4 14702.7 6

 7 Open market paper 71.7 75.8 77.1 80.2 84.9 97.3 88.2 82.2 77.3 83.7 7

 8 U.S. savings bonds 185.0 187.0 186.5 186.6 186.4 184.8 190.3 194.9 203.8 204.4 8

 9 Treasury bills and other Treasury securities 666.6 730.4 643.6 584.4 660.9 434.5 286.5 111.5 248.2 316.3 9

10 Agency- and GSE-backed securities 216.4 332.8 389.7 441.7 541.8 594.0 407.3 247.4 388.8 390.6 10

11 Municipal securities 535.6 495.6 500.8 501.5 530.8 533.7 584.2 681.7 706.1 1535.7 11

12 Corporate and foreign bonds 616.7 648.7 640.2 706.5 603.9 656.7 838.6 1205.1 1141.7 1262.6 12

13 Corporate equities (2) 4434.2 4712.2 6144.1 7506.8 9763.0 8140.2 6825.9 5163.5 6788.0 7479.1 13

14 Mutual fund shares 1253.0 1561.9 1949.3 2352.2 2894.6 2708.0 2618.2 2223.3 2915.4 3430.2 14

15 Life insurance reserves 566.2 610.6 665.0 718.3 783.9 819.1 880.0 920.9 1013.2 1060.4 15

16 Pension fund reserves 5725.1 6386.7 7360.7 8265.4 9264.1 9171.3 8764.3 8189.8 9719.4 10635.8 16

17 Life insurance companies 890.6 974.0 1116.3 1288.4 1478.4 1526.3 1558.5 1604.9 1803.2 2027.9 17

18 Private pension funds 2939.4 3268.5 3759.9 4198.1 4651.5 4508.1 4095.9 3717.3 4561.3 4963.0 18

19 Governments 1895.1 2144.1 2484.5 2778.9 3134.2 3136.9 3109.9 2867.6 3354.9 3644.9 19

20 Miscellaneous and other assets 933.0 1036.9 1188.2 1415.1 1603.4 1860.2 2057.3 2128.9 2286.7 2720.7 20

21 Total liabilities 6562.8 7060.4 7606.0 8353.5 9220.8 10149.0 10990.2 11971.4 13104.2 14630.5 21

22 Home mortgages 3438.2 3673.3 3907.6 4262.4 4685.4 5108.1 5657.8 6412.0 7233.7 8265.2 22

23 Other mortgages 852.3 879.5 915.2 1019.1 1113.5 1220.2 1309.8 1398.0 1528.1 1670.9 23

24 Consumer credit 1168.2 1273.9 1344.2 1441.3 1553.6 1741.3 1891.8 1997.0 2102.9 2220.1 24

25 Policy loans 96.9 101.4 104.6 104.7 100.0 102.8 105.0 106.0 105.2 106.8 25

26 Security credit 78.6 94.4 131.2 152.8 227.9 235.1 196.4 148.2 182.5 264.0 26

27 Other liabilities 928.8 1037.9 1203.2 1373.2 1540.3 1741.5 1829.5 1910.3 1951.8 2103.4 27

(1) Combined statement for households and nonprofit organizations and nonfinancial noncorporate business.

(2) Directly held and those in closed-end and exchange-traded funds. Other equities are included in mutual funds (line 14) and life insurance and pension reserves (lines 15, 16, 17, and 18).
FFA, 1995-2004, December 6, 2012 59

L.100 Households and Nonprofit Organizations (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 21783.1 23548.0 27029.8 30355.4 34832.0 33770.5 32696.5 30866.0 35992.8 40978.5 1

 2 Deposits 3399.5 3539.1 3707.3 3934.6 4116.0 4439.9 4960.9 5228.3 5436.4 5816.2 2

 3 Foreign deposits 23.4 35.5 37.2 37.7 40.7 48.3 48.7 49.9 52.1 57.5 3

 4 Checkable deposits and currency 586.5 544.8 503.8 528.6 508.9 405.1 480.0 464.1 458.2 400.0 4

 5 Time and savings deposits 2317.2 2457.9 2594.9 2696.9 2792.3 3049.3 3331.1 3642.6 3965.9 4454.6 5

 6 Money market fund shares 472.4 500.9 571.3 671.3 774.2 937.3 1101.1 1071.7 960.2 904.1 6

 7 Credit market instruments 2379.7 2545.0 2501.4 2554.6 2670.9 2563.6 2460.1 2596.0 2842.4 3876.1 7

 8 Open market paper 71.7 75.8 77.1 80.2 84.9 97.3 88.2 82.2 77.3 83.7 8

 9 Treasury securities 828.0 888.9 797.8 733.1 810.2 579.1 434.0 263.5 407.1 470.5 9

10 Savings bonds 185.0 187.0 186.5 186.6 186.4 184.8 190.3 194.9 203.8 204.4 10

11 Bills and other Treasury securities 643.0 701.9 611.4 546.4 623.7 394.3 243.7 68.7 203.3 266.1 11

12 Agency- and GSE-backed securities 216.4 332.8 389.7 441.7 541.8 594.0 407.3 247.4 388.8 390.6 12

13 Municipal securities 533.4 493.0 497.6 498.7 528.1 531.2 580.7 678.3 703.4 1531.4 13

14 Corporate and foreign bonds 616.7 648.7 640.2 706.5 603.9 656.7 838.6 1205.1 1141.7 1262.6 14

15 Other loans and advances (2) 0.1 0.1 0.2 0.2 0.6 1.9 2.6 2.8 3.1 5.9 15

16 Mortgages 113.3 105.8 98.7 94.3 101.6 103.4 108.7 116.6 120.9 131.3 16

17 Corporate equities (3) 4434.2 4712.2 6144.1 7506.8 9763.0 8140.2 6825.9 5163.5 6788.0 7479.1 17

18 Mutual fund shares 1253.0 1561.9 1949.3 2352.2 2894.6 2708.0 2618.2 2223.3 2915.4 3430.2 18

19 Security credit 127.6 162.9 215.5 276.7 323.9 412.4 454.3 412.7 475.4 578.3 19

20 Life insurance reserves 566.2 610.6 665.0 718.3 783.9 819.1 880.0 920.9 1013.2 1060.4 20

21 Pension fund reserves 5725.1 6386.7 7360.7 8265.4 9264.1 9171.3 8764.3 8189.8 9719.4 10635.8 21

22 Equity in noncorporate business 3569.6 3690.8 4135.0 4386.1 4643.0 5137.2 5334.9 5686.6 6301.4 7548.7 22

23 Miscellaneous assets 328.3 338.9 351.5 360.8 372.6 378.7 397.8 444.9 501.3 553.8 23

24 Total liabilities 5043.3 5405.7 5757.2 6199.6 6755.9 7352.9 7976.2 8759.2 9822.2 10993.3 24

25 Credit market instruments 4846.1 5183.8 5489.4 5902.9 6377.6 6963.5 7627.8 8439.1 9462.0 10533.5 25

26 Home mortgages (4) 3318.9 3537.0 3752.9 4054.0 4430.8 4814.0 5320.9 6025.6 6907.0 7855.8 26

27 Consumer credit 1168.2 1273.9 1344.2 1441.3 1553.6 1741.3 1891.8 1997.0 2102.9 2220.1 27

28 Municipal securities 96.4 102.4 109.6 121.3 131.7 137.5 151.3 163.9 177.7 197.6 28

29 Depository institution loans n.e.c. (5) 52.6 42.5 51.0 45.0 22.4 18.8 2.2 -21.4 -4.4 -24.0 29

30 Other loans and advances 108.4 122.3 123.0 122.6 117.8 119.1 120.0 120.2 118.7 119.0 30

31 Commercial mortgages 101.6 105.7 108.8 118.7 121.2 132.8 141.7 153.8 160.1 165.0 31

32 Security credit 78.6 94.4 131.2 152.8 227.9 235.1 196.4 148.2 182.5 264.0 32

33 Trade payables 101.1 109.1 118.0 126.8 130.9 134.7 132.9 152.0 156.8 173.3 33

 Deferred and unpaid

34 life insurance premiums 17.5 18.3 18.6 17.2 19.4 19.6 19.1 20.0 20.9 22.5 34

(1) Sector includes domestic hedge funds, private equity funds, and personal trusts. Supplementary tables (tables F.100.a and L.100.a) show estimates of annual flows and year-end

 outstandings of nonprofit organizations.

(2) Syndicated loans to nonfinancial corporate business by nonprofits and domestic hedge funds.

(3) Directly held and those in closed-end and exchange-traded funds. Other equities are included in mutual fund shares (line 18) and life insurance and pension reserves (lines 20 and 21).

(4) Includes loans made under home equity lines of credit and home equity loans secured by junior liens, shown on table L.218, line 23.

(5) Includes loans extended by the Federal Reserve to financial institutions such as domestic hedge funds through the Term Asset-Backed Securities Loan Facility (TALF), shown on table L.108, line 19.
60 FFA, 1995-2004, December 6, 2012

L.101 Nonfinancial Business (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 5567.9 6159.7 6636.5 7865.7 9320.0 11235.1 11519.4 11655.2 11912.0 13104.1 1

 2 Foreign deposits 17.4 28.2 23.1 30.5 31.5 24.0 15.5 20.6 38.1 53.7 2

 3 Checkable deposits and currency 326.5 328.0 339.0 329.2 363.9 407.3 354.3 344.7 394.8 504.7 3

 4 Time and savings deposits 171.1 204.7 250.1 319.0 416.4 519.9 535.8 560.5 676.6 701.1 4

 5 Money market fund shares 77.0 113.9 141.7 194.3 237.5 263.3 373.0 381.0 352.9 366.1 5

 6 Security RPs 2.4 3.9 4.6 4.2 5.8 4.2 4.0 6.2 6.0 6.4 6

 7 Credit market instruments 328.0 321.8 317.2 313.1 285.8 314.3 316.7 341.9 340.7 383.4 7

 8 Commercial paper 20.1 31.5 36.1 39.4 47.6 57.8 60.2 64.8 75.7 95.0 8

 9 Treasury securities 80.7 75.6 59.1 61.6 56.6 58.3 59.7 74.2 78.6 84.2 9

10 Agency- and GSE-backed securities 23.4 28.5 8.0 10.6 12.4 15.4 17.5 16.9 11.2 11.3 10

11 Municipal securities 39.0 33.6 30.6 28.6 27.7 34.4 32.8 35.5 38.1 36.2 11

12 Mortgages 79.7 74.7 99.0 93.6 65.3 67.0 73.4 75.7 78.0 97.4 12

13 Consumer credit 85.1 77.7 84.4 79.3 76.1 81.5 73.1 74.8 59.1 59.2 13

14 Mutual fund shares 45.7 62.6 74.5 97.6 127.3 118.0 109.0 90.9 114.9 125.6 14

15 Trade receivables 1325.3 1442.9 1566.0 1681.6 1930.1 2281.4 2161.8 2082.4 2039.5 2195.0 15

16 Miscellaneous assets 3274.5 3653.7 3920.3 4896.1 5921.8 7302.6 7649.2 7827.1 7948.6 8768.2 16

17 Total liabilities 7542.7 8048.4 8494.1 9630.0 10892.2 12428.4 12847.3 13162.2 13176.7 14019.0 17

18 Credit market instruments 4280.7 4524.2 4935.4 5505.8 6111.8 6678.7 7055.7 7265.1 7439.2 7945.2 18

19 Commercial paper 157.4 156.4 168.6 193.0 230.3 278.4 177.7 119.8 82.5 97.8 19

20 Municipal securities 134.8 137.9 142.0 147.8 152.8 154.2 157.7 160.6 163.9 185.4 20

21 Corporate bonds 1507.4 1619.3 1779.6 1997.2 2207.9 2375.8 2721.9 2858.7 3014.2 3101.9 21

22 Depository institution loans n.e.c. 829.6 889.6 991.2 1098.8 1197.1 1302.5 1242.5 1162.7 1093.7 1130.6 22

23 Other loans and advances 571.3 589.9 644.3 710.1 744.3 829.6 828.1 862.6 869.3 921.6 23

24 Mortgages 1080.4 1131.1 1209.7 1359.0 1579.4 1738.2 1927.8 2100.6 2215.6 2507.9 24

25 Trade payables 975.3 1056.9 1154.0 1242.0 1455.0 1809.2 1700.8 1745.9 1665.1 1786.4 25

26 Taxes payable 73.7 85.5 99.2 108.1 124.0 142.6 149.7 163.1 150.9 166.0 26

27 Miscellaneous liabilities 2213.0 2381.8 2305.5 2774.1 3201.3 3798.0 3941.1 3988.1 3921.5 4121.4 27

(1) Combined statement for nonfinancial corporate business and nonfinancial noncorporate business.
FFA, 1995-2004, December 6, 2012 61

L.102 Nonfinancial Corporate Business

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 4975.4 5472.5 5818.3 6824.8 8094.1 9762.4 9889.9 9947.0 10123.4 10944.6 1

 2 Foreign deposits 17.4 28.2 23.1 30.5 31.5 24.0 15.5 20.6 38.1 53.7 2

 3 Checkable deposits and currency 206.7 189.0 177.7 161.8 191.3 226.4 172.5 160.2 204.2 207.2 3

 4 Time and savings deposits 99.7 129.7 164.4 192.6 236.9 272.3 281.1 291.3 362.8 400.5 4

 5 Money market fund shares 60.0 94.6 118.8 161.7 196.8 213.9 314.1 319.7 289.3 299.6 5

 6 Security RPs 2.4 3.9 4.6 4.2 5.8 4.2 4.0 6.2 6.0 6.4 6

 7 Credit market instruments 280.4 270.2 263.0 246.0 221.8 248.3 243.6 269.5 266.8 298.0 7

 8 Commercial paper 20.1 31.5 36.1 39.4 47.6 57.8 60.2 64.8 75.7 95.0 8

 9 Treasury securities 57.1 47.1 26.8 23.6 19.4 18.1 16.9 31.4 33.7 34.0 9

10 Agency- and GSE-backed securities 23.4 28.5 8.0 10.6 12.4 15.4 17.5 16.9 11.2 11.3 10

11 Municipal securities 36.8 31.0 27.4 25.7 25.0 31.9 29.3 32.1 35.4 31.8 11

12 Mortgages 57.9 54.4 80.2 67.3 41.2 43.5 46.6 49.6 51.8 66.6 12

13 Consumer credit 85.1 77.7 84.4 79.3 76.1 81.5 73.1 74.8 59.1 59.2 13

14 Mutual fund shares 45.7 62.6 74.5 97.6 127.3 118.0 109.0 90.9 114.9 125.6 14

15 Trade receivables 1184.9 1273.1 1361.1 1448.4 1657.6 1939.2 1817.9 1719.5 1701.8 1830.6 15

16 Miscellaneous assets 3078.2 3421.2 3631.1 4481.9 5425.2 6716.1 6932.2 7069.1 7139.5 7723.1 16

17 U.S. direct investment abroad (1) 778.7 866.5 933.1 1041.0 1250.7 1351.6 1489.8 1611.9 1745.1 2094.7 17

18 Insurance receivables 186.5 189.3 191.4 193.6 195.0 195.1 205.9 224.0 243.0 262.7 18

19 Equity in GSEs 0.2 0.2 0.2 0.2 0.2 0.2 0.3 0.3 0.4 0.5 19

20 Investment in finance company subs. 22.5 23.0 28.0 18.0 28.6 29.4 11.6 18.5 21.0 23.6 20

21 Other 2090.4 2342.2 2478.4 3229.1 3950.6 5139.8 5224.7 5214.4 5130.0 5341.6 21

22 Total liabilities 6023.1 6393.6 6645.4 7476.1 8427.2 9632.3 9833.2 9950.0 9894.7 10381.8 22

23 Credit market instruments 3106.1 3279.1 3588.3 3979.7 4391.9 4766.4 4979.9 5037.5 5137.8 5389.1 23

24 Commercial paper 157.4 156.4 168.6 193.0 230.3 278.4 177.7 119.8 82.5 97.8 24

25 Municipal securities (2) 134.8 137.9 142.0 147.8 152.8 154.2 157.7 160.6 163.9 185.4 25

26 Corporate bonds (1) 1507.4 1619.3 1779.6 1997.2 2207.9 2375.8 2721.9 2858.7 3014.2 3101.9 26

27 Depository institution loans n.e.c. 628.9 659.8 714.7 796.6 845.4 900.4 796.8 693.4 614.1 618.0 27

28 Other loans and advances (3) 467.2 484.8 534.9 595.0 623.1 700.9 703.0 734.9 742.2 793.3 28

29 Mortgages 210.4 221.0 248.6 250.2 332.4 356.8 422.7 470.0 521.0 592.6 29

30 Trade payables 878.6 928.3 993.6 1051.2 1229.8 1542.4 1438.8 1458.6 1403.9 1501.6 30

31 Taxes payable 40.3 49.9 59.2 64.1 71.0 78.0 81.0 93.0 81.2 88.0 31

32 Miscellaneous liabilities 1998.1 2136.3 2004.2 2381.1 2734.5 3245.5 3333.4 3361.0 3271.8 3403.1 32

33 Foreign direct investment in U.S. 651.3 704.8 756.4 817.8 912.5 1180.0 1266.2 1252.5 1302.0 1409.8 33

34 Pension fund contributions payable 83.8 89.2 97.6 110.5 92.1 73.0 48.4 49.9 49.8 46.6 34

35 Other 1263.1 1342.3 1150.2 1452.9 1730.0 1992.6 2018.8 2058.6 1920.0 1946.7 35

 Memo:

36 Trade receivables net of payables 306.3 344.7 367.5 397.2 427.8 396.8 379.1 261.0 297.9 329.1 36

37 Market value of equities 6406.8 6804.3 8674.5 10962.3 14476.8 12444.5 10868.6 8212.3 10845.2 12088.6 37

38 Securities and mortgages 1852.6 1978.1 2170.2 2395.1 2693.2 2886.8 3302.4 3489.4 3699.0 3879.9 38

39 Loans and short-term paper 1253.5 1301.0 1418.1 1584.6 1698.7 1879.6 1677.6 1548.1 1438.8 1509.1 39

40 Total short-term liabilities (4) 2172.4 2279.2 2470.9 2699.9 2999.6 3500.1 3197.4 3099.7 2923.9 3098.7 40

41 Total liquid assets (5) 569.3 646.1 661.4 747.9 894.0 982.1 1020.1 1034.1 1171.3 1265.1 41

 Analytical measures (percent)

42 Long-term debt/credit market debt 59.6 60.3 60.5 60.2 61.3 60.6 66.3 69.3 72.0 72.0 42

43 Short-term debt/credit market debt 40.4 39.7 39.5 39.8 38.7 39.4 33.7 30.7 28.0 28.0 43

44 Liquid assets/short-term liabilities 26.2 28.3 26.8 27.7 29.8 28.1 31.9 33.4 40.1 40.8 44

(1) Through 1992:Q4, corporate bonds include net issues by Netherlands Antillean financial subsidiaries, and U.S. direct investment abroad excludes net inflows from those bond issues.

(2) Industrial revenue bonds. Issued by state and local governments to finance private investment and secured in interest and principal by the industrial user of the funds.

(3) Loans from rest of the world, U.S. government, and nonbank financial institutions. Detail can be found on table L.216.

(4) Sum of lines 24, 27, 28, 30, and 31. Includes loans due in more than one year and excludes current maturities of bonds and mortgages.

(5) Sum of lines 2 through 6, lines 8 through 11, and line 14.
62 FFA, 1995-2004, December 6, 2012

L.103 Nonfinancial Noncorporate Business

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 592.5 687.2 818.2 1040.9 1225.9 1472.7 1629.5 1708.2 1788.6 2159.4 1

 2 Checkable deposits and currency 119.8 139.0 161.3 167.5 172.6 181.0 181.8 184.5 190.6 297.5 2

 3 Time and savings deposits 71.5 75.0 85.7 126.5 179.5 247.6 254.7 269.2 313.8 300.6 3

 4 Money market fund shares 17.0 19.2 22.9 32.6 40.7 49.4 59.0 61.3 63.6 66.5 4

 5 Credit market instruments 47.6 51.6 54.2 67.1 64.0 66.0 73.1 72.4 73.9 85.4 5

 6 Treasury securities 23.6 28.6 32.2 38.0 37.2 40.2 42.8 42.8 44.9 50.2 6

 7 Municipal securities 2.2 2.6 3.2 2.8 2.7 2.4 3.5 3.4 2.7 4.3 7

 8 Mortgages 21.7 20.4 18.7 26.3 24.1 23.4 26.8 26.2 26.3 30.8 8

 9 Consumer credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

10 Trade receivables 140.3 169.8 204.9 233.1 272.6 342.1 343.9 362.8 337.7 364.3 10

11 Miscellaneous assets 196.3 232.6 289.2 414.1 496.6 586.5 717.0 758.0 809.0 1045.1 11

12 Insurance receivables 71.5 72.5 73.2 76.2 77.3 77.2 80.0 84.5 89.2 93.7 12

13 Equity investment in GSEs (1) 2.9 3.0 3.0 3.0 3.0 3.1 3.5 3.6 4.2 4.2 13

14 Other 121.9 157.1 213.0 334.9 416.3 506.2 633.5 670.0 715.7 947.1 14

15 Total liabilities 1519.6 1654.7 1848.8 2153.8 2464.9 2796.1 3014.1 3212.2 3282.0 3637.2 15

16 Credit market instruments 1174.6 1245.1 1347.1 1526.1 1719.9 1912.3 2075.7 2227.6 2301.4 2556.1 16

17 Depository institution loans n.e.c. 200.6 229.8 276.6 302.1 351.7 402.1 445.6 469.3 479.7 512.6 17

18 Other loans and advances 104.1 105.1 109.4 115.1 121.2 128.7 125.1 127.7 127.1 128.3 18

19 Mortgages 869.9 910.1 961.1 1108.8 1246.9 1381.5 1505.0 1630.6 1694.7 1915.2 19

20 Trade payables 96.7 128.5 160.4 190.8 225.2 266.7 262.0 287.4 261.2 284.9 20

21 Taxes payable 33.4 35.7 39.9 44.1 53.0 64.6 68.7 70.2 69.7 78.0 21

22 Miscellaneous liabilities 214.8 245.5 301.3 392.9 466.8 552.4 607.7 627.0 649.7 718.2 22

(1) Equity in the Farm Credit System.
FFA, 1995-2004, December 6, 2012 63

L.104 State and Local Governments (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 1121.7 1162.6 1286.9 1474.8 1601.1 1661.9 1748.2 1799.9 1869.3 2065.3 1

 2 Checkable deposits and currency 38.7 33.2 37.5 33.6 37.6 37.7 41.7 46.8 53.8 47.0 2

 3 Time and savings deposits 62.0 72.6 78.4 93.2 107.2 117.8 129.8 138.7 159.0 170.6 3

 4 Money market fund shares 10.7 12.0 15.6 46.7 51.2 53.9 57.1 58.7 64.5 78.6 4

 5 Security RPs 115.7 147.8 151.4 155.6 153.1 142.8 131.9 115.6 118.7 127.0 5

 6 Credit market instruments 638.6 604.8 605.0 714.6 816.5 887.3 981.2 1067.4 1109.9 1237.4 6

 7 Open market paper 39.4 59.7 74.0 86.8 104.3 119.5 136.9 151.3 154.2 162.1 7

 8 Treasury securities 289.8 257.0 239.3 280.8 304.5 310.0 328.4 354.7 364.9 411.6 8

 9 Agency- and GSE-backed securities 151.5 116.2 115.4 154.1 198.3 239.7 287.0 328.8 345.5 387.1 9

10 Municipal securities 5.1 4.6 3.9 3.2 3.5 3.7 4.0 4.1 4.6 5.9 10

11 Corporate and foreign bonds 39.0 49.7 51.0 62.4 74.0 83.8 95.1 104.2 109.6 122.9 11

12 Mortgages 113.8 117.6 121.3 127.4 131.8 130.5 129.7 124.4 131.1 147.9 12

13 Corporate equities 26.4 46.9 78.4 98.5 98.3 93.2 88.0 79.3 81.6 87.8 13

14 Mutual fund shares 35.0 41.0 33.6 34.1 33.4 30.8 28.1 24.3 25.8 29.7 14

15 Trade receivables 77.3 82.9 89.2 96.3 104.9 109.9 115.9 118.4 115.9 111.2 15

16 Taxes receivable 38.0 40.4 44.7 49.6 59.3 70.5 71.5 74.0 74.9 86.2 16

17 Miscellaneous assets 79.4 81.0 153.1 152.6 139.8 118.2 103.1 76.9 65.0 89.8 17

18 Total liabilities 1276.0 1273.6 1343.9 1431.5 1491.5 1533.4 1665.8 1838.6 1988.1 2898.0 18

19 Credit market instruments 1046.7 1026.2 1076.9 1143.8 1181.0 1197.9 1303.4 1447.9 1568.4 2448.2 19

20 Municipal securities 1037.0 1021.3 1067.0 1133.6 1172.5 1189.0 1294.4 1438.3 1558.8 2438.2 20

21 Short-term (2) 34.4 40.7 49.0 42.7 45.3 46.6 70.5 95.7 106.1 44.2 21

22 Long-term 1002.6 980.7 1018.0 1090.9 1127.2 1142.4 1223.9 1342.6 1452.7 2393.9 22

23 U.S. government loans 9.7 4.8 10.0 10.1 8.5 8.9 9.0 9.6 9.7 10.0 23

24 Trade payables 229.2 247.4 266.9 287.7 310.5 335.5 362.4 390.7 419.7 449.9 24

(1) Data for employee retirement funds are shown in table L.117.

(2) Debt with original maturity of 13 months or less.
64 FFA, 1995-2004, December 6, 2012

L.105 Federal Government

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 431.7 511.5 515.9 515.8 616.2 569.9 632.6 652.8 659.7 640.6 1

 2 U.S. official reserve assets 53.8 44.9 42.0 51.0 44.5 41.1 43.2 51.1 55.2 54.5 2

 3 Checkable deposits and currency 22.2 38.3 41.6 23.2 87.9 24.3 66.9 47.5 54.1 21.9 3

 4 Time and savings deposits 0.9 2.4 3.4 4.7 5.4 6.3 10.5 27.6 2.4 2.4 4

 5 Credit market instruments 197.6 201.6 213.1 218.8 256.3 263.1 267.0 275.0 272.4 274.7 5

 6 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Other loans and advances 130.9 133.7 139.7 137.4 130.6 127.8 120.0 119.4 117.5 114.4 8

 9 Mortgages 57.5 50.3 45.7 44.9 77.7 75.7 74.5 75.1 72.6 74.2 9

10 Consumer credit (1) 9.2 17.7 27.6 36.5 48.0 59.7 72.5 80.5 82.4 86.1 10

11 Corporate equities (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

12 Trade receivables 23.1 24.0 20.8 22.3 22.9 28.1 35.5 32.2 51.3 61.8 12

13 Taxes receivable 17.3 90.2 88.4 82.0 80.3 83.3 84.0 90.7 93.7 91.2 13

14 Miscellaneous assets 116.9 110.2 106.7 113.8 119.0 123.6 125.6 128.7 130.7 134.0 14

15 Total liabilities 4296.4 4498.6 4554.4 4537.6 4512.4 4242.3 4303.0 4604.4 5118.4 5556.0 15

16 SDR allocations 7.3 7.0 6.6 6.9 6.7 6.4 6.2 6.7 7.3 7.6 16

17 SDR certificates 10.2 9.7 9.2 9.2 6.2 2.2 2.2 2.2 2.2 2.2 17

18 Treasury currency 18.3 18.9 19.3 19.9 20.9 23.2 24.5 25.5 26.0 26.7 18

19 Credit market instruments 3636.7 3781.7 3804.8 3752.2 3681.0 3385.1 3379.5 3637.0 4033.1 4395.0 19

20 Savings bonds 185.0 187.0 186.5 186.6 186.4 184.8 190.3 194.9 203.8 204.4 20

21 Treasury bills 760.7 777.4 715.4 691.0 737.1 646.9 811.2 888.7 928.8 1001.2 21

22 Other Treasury securities 2662.8 2790.7 2876.4 2846.1 2729.2 2526.2 2351.1 2526.1 2875.6 3165.1 22

23 Budget agency securities 28.2 26.6 26.5 28.5 28.3 27.3 26.8 27.3 24.9 24.3 23

24 Multifamily residential mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

25 Trade payables 81.0 82.1 73.8 66.3 72.1 77.7 81.0 82.0 153.6 169.0 25

26 Insurance reserves 29.9 30.5 32.3 33.6 35.0 36.4 37.8 39.4 40.5 41.6 26

27 Miscellaneous liabilities (3) 513.0 568.7 608.3 649.6 690.6 711.3 772.0 811.7 855.8 913.9 27

28 Nonmarketable securities held by pension plans 506.3 561.4 601.7 642.9 684.0 704.9 765.8 790.3 815.0 855.9 28

29 Other 6.7 7.3 6.6 6.7 6.6 6.4 6.2 21.4 40.8 58.0 29

(1) Includes loans originated by the Department of Education under the Federal Direct Loan Program, as well as Federal Family Education Loan Program loans that

 the government purchased from depository institutions and finance companies.

(2) Corporate equities purchased from financial businesses under the Troubled Asset Relief Program (TARP) and from GSEs at market price.

(3) Includes nonmarketable government securities held by the civil service retirement and disability fund, Railroad Retirement Board, judicial retirement fund, military

 retirement fund, and foreign service retirement and disability fund.
FFA, 1995-2004, December 6, 2012 65

L.106 Rest of the World

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 3487.5 4040.7 4789.1 5358.5 6087.8 6873.0 7364.9 7850.7 8851.6 10579.1 1

 2 SDR allocations 7.3 7.0 6.6 6.9 6.7 6.4 6.2 6.7 7.3 7.6 2

 3 Net interbank assets 247.7 199.9 194.8 167.2 165.7 154.0 105.1 108.7 142.7 125.9 3

 4 U.S. checkable deposits and currency 158.5 175.2 202.7 213.2 237.5 236.3 255.1 273.4 262.9 285.3 4

 5 U.S. time deposits 40.0 50.9 63.9 115.9 118.8 101.5 102.1 143.3 115.0 149.2 5

 6 Money market fund shares 5.1 5.8 6.6 7.3 8.1 11.2 15.1 16.3 18.8 22.9 6

 7 Security RPs (net) 67.6 70.9 90.8 72.0 79.9 91.3 13.1 28.5 115.4 185.7 7

 8 Credit market instruments 1464.8 1795.6 2035.6 2202.0 2196.1 2451.1 2850.2 3303.0 3836.1 4634.7 8

 9 Open market paper 43.4 57.9 77.8 111.4 105.0 114.3 108.4 126.6 192.8 229.8 9

10 Treasury securities 816.9 1040.3 1153.2 1166.2 1058.4 1021.4 1095.2 1285.5 1513.5 1813.6 10

11 Official 490.0 606.4 615.1 622.9 617.7 639.8 720.1 812.0 986.3 1251.9 11

12 Private 327.0 433.9 538.1 543.3 440.7 381.6 375.1 473.5 527.2 561.6 12

13 Agency- and GSE-backed securities 123.1 134.4 157.3 185.6 232.3 348.2 504.1 630.6 655.3 875.2 13

14 Official 17.5 24.7 33.1 46.8 76.1 116.4 171.7 214.2 262.9 372.6 14

15 Private 105.5 109.7 124.2 138.7 156.2 231.9 332.4 416.3 392.4 502.6 15

16 Municipal securities 4.0 4.9 5.9 6.8 7.8 8.0 8.0 11.5 19.5 26.0 16

17 U.S. corporate bonds (1) 355.3 432.1 498.2 589.7 673.1 841.8 1018.7 1123.0 1330.0 1558.9 17

18 Loans to U.S. corporate business 122.1 126.0 143.3 142.3 119.5 117.3 115.7 125.8 125.0 131.2 18

19 U.S. corporate equities 484.6 584.3 837.3 1107.9 1434.0 1483.0 1441.0 1221.6 1674.6 1904.6 19

20 Mutual fund shares 59.9 82.3 109.0 135.1 169.5 149.0 116.6 98.0 146.1 195.8 20

21 Trade receivables 49.3 54.9 55.8 49.3 49.7 49.4 46.2 48.8 50.1 49.0 21

22 Security credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

23 Miscellaneous assets 902.8 1013.9 1185.9 1281.8 1621.7 2139.8 2414.4 2602.5 2482.6 3018.5 23

24 Foreign direct investment in U.S. (2) 680.1 745.6 824.1 920.0 1101.7 1421.0 1518.5 1500.0 1581.0 1742.7 24

25 Other 222.7 268.3 361.8 361.7 520.0 718.8 895.9 1102.5 901.6 1275.8 25

26 Total liabilities 2165.4 2474.5 2719.2 2949.8 3277.0 3611.3 3804.9 4341.5 4569.7 5651.9 26

27 U.S. official reserve assets (3) 74.8 64.0 58.9 70.7 60.5 56.6 57.6 68.0 74.9 75.8 27

28 U.S. private deposits 418.8 521.7 618.5 627.6 676.5 803.3 810.1 831.1 867.1 957.0 28

29 Credit market instruments 567.6 657.2 723.6 783.2 748.2 814.5 865.4 1072.8 1253.3 1438.8 29

30 Commercial paper 56.2 67.5 65.1 72.9 89.2 120.9 198.5 257.2 276.1 345.3 30

31 Bonds 413.3 481.4 543.4 594.4 548.2 572.7 557.1 702.7 868.9 985.0 31

32 Depository institution loans n.e.c. 34.6 43.7 52.1 58.7 59.2 70.5 63.2 68.6 66.1 69.9 32

33 Official 2.6 2.9 2.1 2.8 3.0 3.5 4.3 5.1 4.5 5.5 33

34 Banks 10.9 14.3 13.8 13.1 9.9 13.2 5.9 5.1 8.9 13.4 34

35 Other 21.1 26.5 36.3 42.8 46.4 53.8 53.1 58.4 52.7 51.0 35

36 Other loans and advances 63.6 64.7 63.0 57.2 51.6 50.4 46.6 44.3 42.2 38.6 36

37 Trade payables 46.5 44.8 50.0 46.1 50.4 51.2 43.5 38.6 44.7 48.2 37

38 Security debt 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 38

39 Miscellaneous liabilities 1057.7 1186.7 1268.2 1422.2 1741.5 1885.7 2028.3 2330.9 2329.8 3132.1 39

40 U.S. equity in IBRD, etc. 27.4 29.2 30.8 32.4 33.9 35.4 37.1 38.6 40.0 42.0 40

41 Nonofficial foreign currencies 2.3 2.1 2.1 1.9 2.6 2.6 2.5 2.6 2.8 2.8 41

42 U.S. direct investment abroad (1,2) 885.5 989.8 1068.1 1196.0 1414.4 1531.6 1693.1 1867.0 2054.5 2498.5 42

43 Investment by holding companies 18.5 22.6 21.9 21.3 25.4 -7.1 -10.4 -11.1 33.1 7.5 43

44 Other 124.0 143.0 145.3 170.6 265.3 323.3 306.0 433.8 199.4 581.4 44

 Memo:

45 Market value of foreign equities 790.6 1006.1 1207.8 1475.0 2003.7 1852.8 1612.7 1374.0 2079.4 2560.4 45

 held by U.S. residents (4)

(1) Through 1992:Q4, corporate bonds include net issues by Netherlands Antillean financial subsidiaries; U.S. direct investment abroad excludes net inflows from those bond issues.

(2) Direct investment is valued on a current-cost basis.

(3) Does not include monetary gold.

(4) Includes American Depositary Receipts (ADRs).
66 FFA, 1995-2004, December 6, 2012

L.107 Financial Business (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 21403.8 23758.6 27026.2 30604.9 34762.0 36508.3 38214.1 38931.0 43706.5 47824.2 1

 2 U.S. official reserve assets 32.1 30.2 28.0 30.7 27.1 26.6 25.5 27.9 30.8 32.3 2

 3 SDR certificates 10.2 9.7 9.2 9.2 6.2 2.2 2.2 2.2 2.2 2.2 3

 4 Treasury currency 24.0 25.0 25.5 26.3 28.0 31.6 33.0 34.6 35.5 36.4 4

 5 Foreign deposits 19.7 23.1 23.2 30.1 41.1 87.2 115.0 108.1 71.5 78.5 5

 6 Net interbank assets 70.4 74.1 78.6 70.0 90.6 64.4 64.8 70.8 70.8 66.5 6

 7 Checkable deposits and currency 47.2 57.8 71.8 78.5 89.4 93.7 159.0 172.5 216.0 247.0 7

 8 Time and savings deposits 184.2 223.6 273.3 315.4 320.0 312.4 380.9 353.1 309.9 311.0 8

 9 Money market fund shares 176.1 254.0 307.3 408.3 508.7 546.5 694.2 696.2 619.9 508.2 9

10 Federal funds and security RPs 312.9 323.8 357.2 390.1 530.6 479.7 512.4 547.9 521.3 521.7 10

11 Credit market instruments 13595.5 14453.8 15657.6 17410.8 19250.5 20728.7 22513.4 24316.9 26299.1 28252.6 11

12 Open market paper 525.7 578.1 714.4 854.8 1060.6 1225.1 1080.3 950.0 793.0 828.5 12

13 Treasury securities 1593.0 1493.2 1528.8 1482.0 1423.0 1389.0 1435.3 1631.9 1644.1 1590.8 13

14 Agency- and GSE-backed securities 1891.5 2023.9 2178.9 2530.9 2931.1 3149.6 3773.1 4312.6 4568.5 4420.3 14

15 Municipal securities 686.7 725.5 780.6 865.4 890.0 903.4 977.9 1033.4 1134.7 1221.8 15

16 Corporate and foreign bonds 2068.2 2270.6 2543.8 2890.1 3210.9 3349.7 3733.8 3935.1 4581.0 5105.0 16

17 Depository institution loans n.e.c. 960.9 1041.8 1169.9 1310.2 1404.1 1520.7 1447.9 1367.9 1334.2 1388.7 17

18 Other loans and advances 634.8 685.0 755.6 908.8 1067.3 1199.1 1229.1 1259.1 1296.0 1413.3 18

19 Mortgages 4160.7 4457.3 4753.5 5243.1 5833.8 6392.0 7089.7 7985.2 8985.9 10209.3 19

20 Consumer credit 1073.9 1178.5 1232.1 1325.4 1429.5 1600.1 1746.3 1841.7 1961.5 2074.8 20

21 Corporate equities 3536.2 4404.7 5561.9 6640.8 8105.7 7858.6 7273.7 5973.9 8094.3 9468.6 21

22 Mutual fund shares 459.2 594.6 823.0 994.0 1313.7 1427.2 1263.5 1201.9 1452.0 1655.1 22

23 Trade receivables 108.2 117.3 140.9 146.5 130.7 147.9 159.0 158.3 171.7 182.2 23

24 Security credit 178.1 195.2 253.6 295.6 352.7 410.3 371.5 326.1 383.4 459.9 24

25 Life insurance reserves 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

26 Miscellaneous assets 2649.8 2971.7 3415.1 3758.6 3967.0 4291.2 4645.9 4940.4 5428.1 6001.9 26

27 Total liabilities 20692.0 23022.2 26182.7 29589.0 33624.5 35354.3 37048.8 37584.7 41979.3 45776.3 27

28 Net interbank liabilities 280.8 234.1 212.5 172.1 183.5 164.3 114.4 127.7 152.4 147.2 28

29 Checkable deposits and currency 1211.4 1200.4 1209.2 1220.3 1332.3 1218.8 1360.8 1353.0 1437.4 1522.8 29

30 Time and savings deposits 2775.4 3012.0 3264.0 3545.1 3760.1 4107.3 4490.4 4865.7 5228.9 5788.8 30

31 Money market fund shares 741.3 886.7 1042.5 1327.9 1579.6 1812.1 2240.6 2223.9 2016.4 1879.8 31

32 Federal funds and security RPs 609.2 654.6 754.9 794.6 925.3 1000.9 1009.2 1117.9 1341.8 1422.1 32

33 Credit market instruments 4226.3 4749.5 5299.7 6326.2 7376.5 8168.4 9156.8 10038.2 10944.5 11898.3 33

34 Open market paper 486.9 579.1 745.7 906.7 1082.9 1214.7 1097.8 997.9 934.4 956.0 34

35 Agency- and GSE-backed securities 2377.7 2609.2 2822.8 3294.4 3887.7 4319.7 4962.3 5509.0 5944.5 6060.3 35

36 Corporate and foreign bonds 1158.5 1300.4 1410.3 1657.1 1805.7 1983.4 2407.1 2805.9 3279.2 3962.6 36

37 Depository institution loans n.e.c. 44.1 66.0 75.6 107.6 125.5 128.8 140.1 158.0 178.9 212.2 37

38 Other loans and advances 135.0 162.9 198.5 288.7 395.8 438.3 463.7 470.5 501.7 575.8 38

39 Mortgages 24.1 31.9 46.8 71.6 78.8 83.6 85.8 97.0 105.9 131.4 39

40 Mutual fund shares 1852.8 2342.4 2989.4 3613.1 4538.5 4433.1 4135.4 3638.4 4654.2 5436.3 40

41 Trade payables 10.3 14.3 19.9 18.9 30.9 35.9 39.2 37.4 28.2 36.0 41

42 Security credit 227.1 263.7 337.9 419.5 448.7 587.6 629.5 590.6 676.3 774.2 42

43 Life insurance reserves 536.3 580.1 632.7 684.7 748.9 782.7 842.2 881.6 972.7 1018.8 43

44 Pension fund reserves 5725.1 6386.7 7360.7 8265.4 9264.1 9171.3 8764.3 8189.8 9719.4 10635.8 44

45 Taxes payable 21.2 25.3 17.9 22.2 26.5 36.8 41.5 37.5 47.9 53.2 45

46 Miscellaneous liabilities 2475.1 2672.7 3041.4 3178.9 3409.6 3835.2 4224.4 4482.9 4759.3 5163.0 46

 Memo:

47 Market value of corporate equities 1284.0 1937.7 2739.5 2916.8 2920.4 3277.7 3147.3 2852.0 3713.9 4291.1 47

48 Equity in noncorporate business 5.4 6.5 9.5 9.6 11.5 11.7 6.2 5.0 13.0 11.2 48

(1) Sum of financial sectors shown on tables L.108 through L.129.
FFA, 1995-2004, December 6, 2012 67

L.108 Monetary Authority (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 471.9 495.2 534.0 566.8 696.9 635.9 683.0 753.6 796.8 841.3 1

 2 U.S. official reserve assets 32.1 30.2 28.0 30.7 27.1 26.6 25.5 27.9 30.8 32.3 2

 3 SDR certificates 10.2 9.7 9.2 9.2 6.2 2.2 2.2 2.2 2.2 2.2 3

 4 Treasury currency 24.0 25.0 25.5 26.3 28.0 31.6 33.0 34.6 35.5 36.4 4

 5 Federal Reserve float (2) 0.1 4.3 0.7 1.6 -0.2 0.9 -0.0 0.4 -0.3 0.9 5

 6 Interbank loans (2) 0.1 0.1 2.0 0.0 0.2 0.1 0.0 0.0 0.1 0.0 6

 7 Discount window (3) 0.1 0.1 2.0 0.0 0.2 0.1 0.0 0.0 0.1 0.0 7

 8 AMLF (4) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Security RPs 13.9 21.6 23.8 30.4 140.6 43.4 50.3 39.5 43.8 33.0 9

10 Credit market instruments 380.8 393.1 431.4 452.5 478.1 511.8 551.7 629.4 666.7 717.8 10

11 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

12 Treasury securities 378.2 390.9 430.7 452.1 478.0 511.7 551.7 629.4 666.7 717.8 12

13 Treasury bills 183.1 190.6 197.1 194.8 176.5 178.7 182.1 226.7 244.8 263.0 13

14 Other Treasury securities 195.1 200.3 233.6 257.4 301.4 333.0 369.6 402.7 421.8 454.8 14

15 Agency- and GSE-backed securities 2.6 2.2 0.7 0.3 0.2 0.1 0.0 0.0 0.0 0.0 15

16 Mortgage-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

17 Other agency- and GSE-backed securities 2.6 2.2 0.7 0.3 0.2 0.1 0.0 0.0 0.0 0.0 17

18 Depository institution loans n.e.c. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

19 Households (TALF) (5) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

20 Rest of world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

21 Brokers and dealers (6) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

22 Funding corporations (Maiden Lane) (7) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

23 Funding corporations (AIG) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

24 Funding corporations (Maiden Lane II) (8) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

25 Funding corporations (Maiden Lane III)(9) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

26 Funding corporations (CPFF) (10) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

27 Corporate equities (11) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

28 Miscellaneous assets 10.7 11.2 13.2 16.1 16.8 19.3 20.3 19.6 18.2 18.6 28

29 Nonofficial foreign currencies (12) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

30 Other 10.7 11.2 13.2 16.1 16.8 19.3 20.3 19.6 18.2 18.6 30

31 Total liabilities 467.9 490.7 528.8 560.9 690.4 629.1 675.6 745.3 788.0 829.6 31

32 Depository institution reserves 29.6 24.5 30.8 26.3 24.0 19.0 17.5 22.5 23.1 24.0 32

33 Vault cash of depository institutions 40.6 45.2 45.0 42.1 66.6 44.4 47.3 47.8 48.0 41.5 33

34 Checkable deposits and currency 391.2 414.4 444.3 483.3 591.5 556.4 603.8 645.7 683.0 720.8 34

35 Due to federal government 6.2 8.0 5.7 6.2 28.5 5.6 7.1 4.8 6.0 6.2 35

36 Treasury cash holdings 0.3 0.2 0.2 0.1 0.1 0.5 0.4 0.4 0.3 0.3 36

37 Treasury general deposit account 6.0 7.7 5.4 6.1 28.4 5.1 6.6 4.4 5.7 5.9 37

38 Treasury temporary supplementary financing account 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 38

39 Due to rest of the world 0.4 0.2 0.5 0.2 0.1 0.2 0.1 0.1 0.2 0.1 39

40 Due to government-sponsored enterprises 0.8 0.8 0.8 1.5 1.1 1.2 0.7 1.1 0.6 1.1 40

41 Currency outside banks 383.7 405.5 437.3 475.4 561.8 549.3 596.0 639.7 676.2 713.3 41

42 Security RPs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21.1 25.7 30.8 42

43 Miscellaneous liabilities 6.6 6.6 8.7 9.2 8.3 9.3 7.0 8.1 8.3 12.5 43

44 Federal Reserve Bank stock 4.0 4.6 5.4 6.0 6.4 7.0 7.4 8.4 8.8 11.9 44

45 Other 2.6 2.0 3.2 3.3 1.9 2.3 -0.3 -0.2 -0.6 0.6 45

(1) Assets and liabilities of Federal Reserve Banks and Treasury monetary accounts that supply or absorb bank reserves. Excludes the accounts of the Federal Reserve Board.

(2) Shown on table L.203.

(3) Federal Reserve loans extended to domestic banks through term auction credit, primary credit, secondary credit, and seasonal credit.

(4) Federal Reserve loans extended to domestic banks through the Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility (AMLF).

(5) Loans extended to financial institutions such as domestic hedge funds through the Term Asset-Backed Securities Loan Facility (TALF).

(6) Loans extended through the Federal Reserve’s Primary Dealer Credit Facility (PDCF) and the AMLF.

(7) Loan extended by the Federal Reserve to Maiden Lane LLC to facilitate the arrangements associated with JPMorgan Chase & Co.’s acquisition of Bear Stearns Companies, Inc.

(8) Loan extended by the Federal Reserve to Maiden Lane II LLC to purchase residential mortgage-backed securities from the U.S. securities lending reinvestment portfolio of AIG subsidiaries.

(9) Loan extended by the Federal Reserve to Maiden Lane III LLC to purchase CDOs on which AIG has written credit default swap contracts.

(10) Loan extended by the Federal Reserve to Commercial Paper Funding Facility LLC.

(11) Preferred interests in AIA Aurora LLC and ALICO Holdings LLC, two limited liability companies created to hold all the outstanding common stock of American International Assurance

 Company Ltd (AIA) and American Life Insurance Company (ALICO), two life insurance subsidiaries of AIG.

(12) Reciprocal currency arrangements (swap lines) with foreign central banks.
68 FFA, 1995-2004, December 6, 2012

L.109 Private Depository Institutions (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 5332.3 5572.9 6047.3 6432.9 6847.0 7350.6 7712.5 8374.1 8938.7 9715.6 1

 2 Vault cash 40.6 45.2 45.0 42.1 66.6 44.4 47.3 47.8 48.0 41.5 2

 3 Reserves at Federal Reserve 29.6 24.5 30.8 26.3 24.0 19.0 17.5 22.5 23.1 24.0 3

 4 Credit market instruments 4663.7 4891.4 5218.9 5569.6 5985.9 6432.8 6717.6 7192.3 7726.3 8470.7 4

 5 Open market paper 6.4 7.1 2.9 1.5 3.2 2.7 2.4 1.5 0.7 0.8 5

 6 Treasury securities 312.0 292.6 296.3 236.5 239.9 200.7 180.3 221.3 150.3 123.0 6

 7 Agency- and GSE-backed securities 673.1 697.5 772.0 858.6 902.6 918.4 1013.2 1162.4 1281.7 1311.1 7

 8 Municipal securities 95.4 96.3 98.8 107.3 113.8 117.3 125.0 127.5 139.3 148.2 8

 9 Corporate and foreign bonds 181.4 169.7 183.8 250.1 306.1 362.3 431.6 448.9 563.3 632.2 9

10 Depository institution loans n.e.c. 960.9 1041.8 1169.9 1310.2 1404.1 1520.7 1447.9 1367.9 1334.2 1388.7 10

11 Other loans and advances 22.3 23.4 20.6 11.3 8.2 7.5 4.6 4.6 4.4 4.0 11

12 Mortgages 1737.9 1846.8 1960.1 2074.3 2270.6 2503.0 2683.5 2991.3 3299.3 3851.6 12

13 Consumer credit 674.4 716.3 714.6 719.8 737.4 800.3 829.1 867.0 953.1 1011.0 13

14 Corporate equities 19.3 24.5 25.9 35.7 42.0 43.3 40.3 30.6 49.0 57.5 14

15 Mutual fund shares 5.2 5.2 10.6 12.8 14.9 17.2 25.1 23.1 21.2 21.3 15

16 Security credit 99.5 100.8 122.5 142.8 124.8 175.2 175.2 177.9 200.9 195.8 16

17 Life insurance reserves 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

18 Miscellaneous assets 474.5 481.2 593.7 603.7 588.8 618.6 689.5 879.8 870.2 904.8 18

19 Total liabilities 5353.4 5616.0 6076.5 6362.3 6690.0 7225.0 7632.5 8244.8 8735.0 9576.8 19

20 Net interbank liabilities 210.7 164.4 136.7 103.7 93.0 100.9 49.6 57.3 81.4 81.7 20

21 Checkable deposits 820.2 785.9 764.9 737.0 740.8 662.4 757.0 707.3 754.4 802.0 21

22 Small time and savings deposits 2298.5 2421.1 2550.6 2739.9 2823.7 3054.7 3369.3 3694.7 4002.1 4283.7 22

23 Large time deposits 476.9 590.9 713.4 805.3 936.4 1052.6 1121.0 1171.0 1226.8 1505.1 23

24 Federal funds and security RPs (net) 415.6 459.2 525.1 565.1 657.9 680.5 626.7 695.0 759.2 776.6 24

25 Credit market instruments 203.4 238.6 282.0 372.5 479.8 536.4 563.7 567.5 602.0 685.7 25

26 Open market paper 22.6 23.6 20.9 11.5 8.6 7.9 4.8 4.6 4.4 4.1 26

27 Corporate bonds 46.3 53.6 64.5 74.7 78.5 92.6 98.3 97.5 104.0 116.9 27

28 Other loans and advances 134.5 161.3 196.7 286.2 392.6 435.8 460.6 465.3 493.7 564.8 28

29 Taxes payable (net) -0.1 2.0 7.3 10.4 12.4 22.1 25.9 35.9 37.7 37.2 29

30 Miscellaneous liabilities 928.2 954.0 1096.5 1028.5 946.2 1115.6 1119.2 1316.0 1271.4 1404.9 30

31 Foreign direct investment in U.S. 32.7 30.3 38.8 46.1 62.0 64.2 67.2 73.3 85.2 122.7 31

32 Investment by holding companies 350.6 384.3 415.5 476.7 501.1 595.9 656.3 722.8 742.7 961.8 32

33 Investment by funding corporations 50.7 64.5 78.8 90.6 93.0 138.7 108.7 127.3 134.7 167.7 33

34 Other 494.2 475.0 563.4 415.1 290.1 316.7 286.9 392.6 308.9 152.6 34

 Memo:

35 Consumer leases not included above (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 35

(1) U.S.-chartered depository institutions (L.110), foreign banking offices (L.111), banks in U.S.-affiliated areas (L.112), and credit unions (L.113).

(2) Receivables from operating leases, such as consumer automobile leases, are booked as current income when payments are received and are not included in financial assets (or household liabilities).

 The leased automobile is a nonfinancial asset.
FFA, 1995-2004, December 6, 2012 69

L.110 U.S.-Chartered Depository Institutions, Excluding Credit Unions

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 4344.3 4508.3 4858.5 5210.7 5664.4 6089.4 6381.1 6979.1 7533.6 8371.8 1

 2 Vault cash 40.6 45.2 45.0 42.1 66.6 44.4 47.3 47.8 48.0 41.5 2

 3 Reserves at Federal Reserve 28.8 23.4 27.9 25.3 22.6 18.6 16.9 21.3 22.2 23.3 3

 4 Credit market instruments 3954.9 4093.0 4359.8 4697.2 5098.5 5486.8 5720.7 6143.7 6642.5 7311.0 4

 5 Open market paper 4.1 4.5 2.3 0.8 0.7 0.9 0.0 0.0 0.0 0.0 5

 6 Treasury securities 226.0 190.3 181.4 135.0 133.0 96.6 67.8 95.6 105.7 82.6 6

 7 Agency- and GSE-backed securities 586.0 592.8 652.4 722.6 755.4 766.9 861.7 997.5 1105.2 1132.5 7

 8 Residential mortgage pass-through securities 329.9 344.3 371.8 418.7 399.4 406.8 466.3 567.6 605.2 672.1 8

 9 Commercial mortgage pass-through securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

10 Residential CMOs and other structured MBS 101.0 89.5 107.0 115.9 120.9 111.0 168.2 159.1 185.8 180.1 10

11 Commercial CMOs and other structured MBS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

12 Other 155.1 159.0 173.6 188.0 235.2 249.1 227.1 270.9 314.1 280.3 12

13 Municipal securities 94.7 95.8 98.3 106.9 113.2 116.6 124.5 127.0 138.8 147.8 13

14 Corporate and foreign bonds 147.5 132.7 142.0 202.2 263.3 310.9 349.0 344.2 377.7 423.7 14

15 Priv. residential mortgage pass-through securities 29.2 25.2 18.1 17.1 22.8 23.1 38.5 22.6 22.9 27.1 15

16 Priv. commercial mortgage pass-through securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

17 Priv. residential CMOs and other structured MBS 24.9 21.8 22.5 42.8 48.8 56.5 59.3 67.4 98.3 148.5 17

18 Priv. commercial CMOs and other structured MBS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

19 Other 93.3 85.8 101.5 142.3 191.6 231.3 251.2 254.2 256.5 248.2 19

20 Depository institution loans n.e.c. 699.8 759.6 867.3 1008.0 1123.4 1223.2 1163.7 1104.8 1080.3 1120.7 20

21 Other loans and advances 12.3 13.9 13.7 9.1 6.6 5.9 3.6 3.9 3.8 3.3 21

22 Mortgages 1642.1 1731.2 1840.2 1948.3 2133.5 2350.0 2510.8 2799.5 3083.9 3604.7 22

23 Consumer credit 542.4 572.2 562.2 564.4 569.5 615.8 639.5 671.3 747.3 795.6 23

24 Corporate equities 19.3 24.5 25.9 35.7 42.0 43.3 40.3 30.6 49.0 57.5 24

25 Mutual fund shares 2.3 2.6 8.1 9.1 12.4 15.0 21.3 19.6 17.1 18.1 25

26 Security credit 65.1 60.2 64.4 76.3 67.6 74.7 81.9 79.2 91.4 102.2 26

27 Life insurance reserves 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

28 Miscellaneous assets 233.4 259.3 327.3 325.0 354.7 406.5 452.7 636.9 663.4 818.2 28

29 Total liabilities 4382.1 4570.8 4910.1 5164.5 5533.0 5994.5 6334.2 6888.3 7372.7 8278.4 29

30 Net interbank liabilities 55.8 11.1 15.0 45.1 90.1 137.5 121.5 175.0 221.3 287.9 30

31 Federal Reserve float 0.1 4.3 0.7 1.6 -0.2 0.9 -0.0 0.4 -0.3 0.9 31

32 Borrowing from Federal Reserve banks 0.1 0.1 2.0 0.0 0.2 0.1 0.0 0.0 0.1 0.0 32

33 To domestic banks -18.6 -31.1 -38.2 -31.0 -34.1 -33.0 -34.5 -17.3 -16.4 -6.9 33

34 To foreign banks 74.1 37.8 50.4 74.4 124.1 169.5 155.9 191.8 238.0 293.8 34

35 Checkable deposits 774.2 738.6 712.2 676.9 677.7 594.0 681.7 628.0 666.4 705.7 35

36 Federal government 19.0 28.7 27.8 13.2 49.6 16.4 47.5 31.1 30.2 26.9 36

37 Rest of the world 18.1 21.6 26.0 23.2 22.7 25.1 22.6 22.3 1.5 11.2 37

38 Private domestic 737.1 688.3 658.4 640.5 605.5 552.5 611.6 574.6 634.8 667.5 38

39 Small time and savings deposits 2040.8 2150.8 2262.7 2431.7 2504.3 2721.2 2978.2 3272.7 3549.5 3814.8 39

40 Large time deposits 336.6 392.5 467.4 517.8 587.9 695.7 697.3 765.6 800.8 995.7 40

41 Federal funds and security RPs (net) 378.8 405.5 447.9 471.6 584.6 549.6 505.3 533.4 603.1 623.2 41

42 Credit market instruments 192.7 228.5 274.3 368.9 474.4 531.0 557.7 559.9 592.4 673.6 42

43 Open market paper 12.3 14.0 13.7 9.1 6.6 6.0 3.7 3.9 3.8 3.4 43

44 Corporate bonds 46.3 53.6 64.5 74.7 78.5 92.6 98.3 97.5 104.0 116.9 44

45 Other loans and advances 134.1 160.9 196.1 285.1 389.2 432.4 455.7 458.4 484.6 553.4 45

46 Taxes payable (net) -0.1 2.0 7.3 10.4 12.4 22.1 25.9 35.9 37.7 37.2 46

47 Miscellaneous liabilities 603.2 641.9 723.4 642.2 601.7 743.4 766.7 917.8 901.4 1140.3 47

48 Investment by holding companies 350.6 384.3 415.5 476.7 501.1 595.9 656.3 722.8 742.7 961.8 48

49 Other 252.6 257.6 307.9 165.5 100.5 147.5 110.4 195.0 158.8 178.5 49

 Memo:

50 Consumer leases not included above (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 50

(1) Receivables from operating leases, such as consumer automobile leases, are booked as current income when payments are received and are not included in financial assets (or household liabilities).

 The leased automobile is a nonfinancial asset.
70 FFA, 1995-2004, December 6, 2012

L.111 Foreign Banking Offices in U.S. (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 670.9 720.8 819.1 816.4 763.4 804.8 810.7 823.0 777.0 663.7 1

 2 Reserves at Federal Reserve 0.8 1.1 2.9 1.0 1.4 0.5 0.6 1.2 0.9 0.7 2

 3 Credit market instruments 412.4 475.8 516.0 504.4 487.4 511.3 510.7 516.9 490.3 512.5 3

 4 Open market paper 1.7 2.3 0.4 0.3 0.6 0.6 0.0 0.0 0.0 0.0 4

 5 Treasury securities 62.3 80.7 95.1 84.8 94.5 94.0 103.8 116.7 33.4 27.7 5

 6 Agency- and GSE-backed securities 37.3 49.7 62.2 67.4 72.4 72.7 50.7 61.6 53.3 51.8 6

 7 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Corporate and foreign bonds 33.5 36.6 41.3 46.9 42.4 50.7 81.3 81.6 159.8 182.2 8

 9 Depository institution loans n.e.c. 232.5 264.8 284.0 282.3 260.0 274.6 256.1 237.5 225.7 233.2 9

10 Other loans and advances 10.1 9.4 6.9 2.2 1.6 1.6 1.0 0.6 0.6 0.7 10

11 Mortgages 35.1 32.2 26.1 20.4 15.9 17.1 17.9 19.0 17.5 16.9 11

12 Corporate equities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

13 Security credit 34.4 40.6 58.0 66.5 57.2 100.5 93.3 98.7 109.5 93.7 13

14 Miscellaneous assets 223.2 203.3 242.1 244.6 217.4 192.6 206.0 206.1 176.3 56.8 14

15 Total liabilities 681.2 731.8 830.8 828.7 776.4 818.4 824.9 837.8 792.4 679.9 15

16 Net interbank liabilities 181.0 178.5 148.2 93.1 48.2 7.4 -9.3 -52.2 -68.9 -136.1 16

17 To foreign banks 173.6 162.1 144.4 92.7 41.5 -15.5 -50.9 -83.1 -95.3 -167.9 17

18 To domestic banks 7.4 16.5 3.7 0.4 6.7 22.9 41.6 30.9 26.4 31.8 18

19 Checkable deposits 8.7 8.0 8.8 8.6 9.1 8.7 9.1 8.4 9.5 8.7 19

20 Small time and savings deposits 8.5 8.7 13.1 9.4 7.5 7.2 11.6 9.4 10.2 9.5 20

21 Large time deposits 121.0 176.6 221.3 257.6 314.8 318.2 371.5 346.4 354.9 430.3 21

22 Federal funds and security RPs (net) 43.2 55.1 80.7 100.4 82.5 134.8 123.9 163.4 157.7 157.5 22

23 Open market paper (2) 10.4 9.6 7.2 2.4 2.0 2.0 1.1 0.7 0.6 0.7 23

24 Miscellaneous liabilities 308.5 295.2 351.5 357.3 312.2 340.1 316.9 361.8 328.4 209.2 24

25 Foreign direct investment in U.S. 32.7 30.3 38.8 46.1 62.0 64.2 67.2 73.3 85.2 122.7 25

26 Investment by funding corporations 50.7 64.5 78.8 90.6 93.0 138.7 108.7 127.3 134.7 167.7 26

27 Other 225.1 200.5 233.9 220.6 157.2 137.2 141.0 161.2 108.5 -81.2 27

(1) Branches and agencies of foreign banks, Edge Act and Agreement corporations, New York investment companies (through 1996:Q2), and American Express Bank (through 2008:Q4).

(2) Bankers’ acceptances.
FFA, 1995-2004, December 6, 2012 71

L.112 Banks in U.S.-Affiliated Areas (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 37.4 38.9 44.4 53.6 57.0 61.6 77.5 72.7 81.2 96.0 1

 2 Credit market instruments 33.4 34.1 37.8 43.8 48.3 55.0 65.0 66.3 76.9 90.8 2

 3 Treasury securities 5.4 4.1 4.2 3.6 2.8 1.8 1.2 1.5 2.5 3.8 3

 4 Agency- and GSE-backed securities 4.0 4.3 6.3 10.2 13.5 17.8 20.3 24.2 28.9 33.6 4

 5 Municipal securities 0.7 0.5 0.5 0.5 0.6 0.7 0.5 0.5 0.6 0.3 5

 6 Corporate and foreign bonds 0.4 0.3 0.4 1.0 0.5 0.8 1.4 1.1 1.4 1.3 6

 7 Depository institution loans n.e.c. 13.1 14.6 15.5 16.3 16.9 18.0 22.5 18.2 18.5 20.3 7

 8 Home mortgages 5.7 6.3 6.4 7.5 8.1 9.1 8.2 9.7 12.2 15.6 8

 9 Commercial mortgages 4.0 3.9 4.4 4.8 6.0 6.8 11.0 11.2 12.8 15.9 9

10 Miscellaneous assets 4.0 4.8 6.6 9.7 8.7 6.6 12.5 6.4 4.3 5.2 10

11 Total liabilities 37.2 38.6 43.7 53.1 56.9 60.4 76.8 71.1 78.6 94.0 11

12 Net interbank liabilities -1.6 -1.4 -1.4 -2.0 -2.2 -1.7 -2.8 -2.5 -2.5 -3.5 12

13 Checkable deposits 6.4 6.9 7.3 8.5 8.5 8.4 11.5 10.4 11.9 13.5 13

14 Small time and savings deposits 10.2 10.4 10.4 11.4 12.2 13.6 18.1 16.2 17.5 19.0 14

15 Large time deposits 10.2 10.4 10.4 11.4 12.2 13.6 18.1 16.2 17.5 19.0 15

16 Miscellaneous liabilities 11.9 12.3 16.9 23.9 26.3 26.5 31.8 30.8 34.2 46.0 16

(1) Commercial banks and branches of U.S.-chartered depository institutions located in Puerto Rico, the U.S. Virgin Islands, American Samoa, Guam, and other U.S.-affiliated insular areas.

L.113 Credit Unions

Billions of dollars

 1 Total financial assets 279.8 304.8 325.2 352.2 362.2 394.8 443.3 499.3 547.0 584.0 1

 2 Reserves at Federal Reserve 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Credit market instruments 263.0 288.5 305.3 324.2 351.7 379.7 421.2 465.4 516.6 556.4 3

 4 Open market paper 0.6 0.3 0.2 0.4 1.9 1.2 2.4 1.5 0.7 0.8 4

 5 Treasury securities 18.3 17.4 15.6 13.1 9.6 8.2 7.4 7.5 8.8 8.9 5

 6 Agency- and GSE-backed securities 45.7 50.7 51.0 58.4 61.3 60.9 80.6 79.1 94.3 93.1 6

 7 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22.1 24.3 25.0 7

 8 Depository institution loans n.e.c. 15.5 2.9 3.1 3.5 3.9 4.9 5.6 7.5 9.7 14.6 8

 9 Home mortgages 51.0 73.1 83.0 93.3 107.1 119.9 135.7 152.0 172.9 198.6 9

10 Consumer credit 131.9 144.1 152.4 155.4 167.9 184.4 189.6 195.7 205.9 215.4 10

11 Mutual fund shares 2.8 2.6 2.4 3.6 2.5 2.2 3.7 3.5 4.1 3.1 11

12 Miscellaneous assets 13.9 13.8 17.5 24.3 8.0 12.9 18.3 30.4 26.3 24.5 12

13 Total liabilities 252.8 274.8 292.0 316.0 323.8 351.8 396.7 447.6 491.3 524.5 13

14 Net interbank liabilities -24.5 -23.9 -25.1 -32.5 -43.0 -42.3 -59.8 -63.0 -68.6 -66.6 14

15 Shares/deposits 278.8 295.1 315.4 349.0 366.7 389.1 450.2 499.7 545.0 574.5 15

16 Checkable 30.9 32.5 36.6 43.0 45.4 51.3 54.7 60.5 66.5 74.1 16

17 Small time and savings 238.9 251.2 264.4 287.5 299.8 312.7 361.3 396.4 424.9 440.4 17

18 Large time 9.0 11.4 14.4 18.5 21.6 25.1 34.1 42.8 53.6 60.0 18

19 Federal funds and security RPs (net) -6.4 -1.4 -3.5 -6.8 -9.3 -4.0 -2.5 -1.7 -1.6 -4.1 19

20 Other loans and advances 0.4 0.4 0.6 1.1 3.4 3.4 4.9 6.9 9.1 11.4 20

21 Miscellaneous liabilities 4.5 4.6 4.6 5.2 6.0 5.6 3.8 5.7 7.4 9.3 21
72 FFA, 1995-2004, December 6, 2012

L.114 Property-Casualty Insurance Companies

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 740.3 770.0 843.5 876.4 869.9 858.1 854.7 934.7 1059.3 1159.1 1

 2 Checkable deposits and currency 4.9 3.9 4.2 4.0 4.3 3.7 13.1 25.9 34.6 25.9 2

 3 Money market fund shares 13.1 12.4 12.3 14.9 9.9 13.4 10.3 15.3 14.3 13.4 3

 4 Security RPs 0.0 0.0 0.0 0.0 0.0 0.0 1.7 2.7 3.2 2.0 4

 5 Credit market instruments 493.1 514.2 538.2 548.9 536.5 534.3 536.6 584.7 660.5 746.5 5

 6 Open market paper 18.8 17.7 17.6 21.3 14.1 19.1 12.7 15.7 13.7 12.3 6

 7 Treasury securities 139.1 126.2 96.4 76.8 64.9 57.8 57.5 72.0 86.2 106.6 7

 8 Agency- and GSE-backed securities 48.2 51.0 70.8 69.7 75.5 84.1 94.2 113.2 115.4 112.1 8

 9 Municipal securities 161.0 175.4 191.6 208.1 199.0 184.1 173.8 183.0 224.2 267.8 9

10 Corporate and foreign bonds 123.3 141.6 159.5 171.1 181.1 187.5 196.4 198.9 218.9 245.3 10

11 Commercial mortgages 2.8 2.4 2.2 2.0 1.9 1.6 1.9 2.0 2.1 2.4 11

12 Corporate equities 133.5 147.5 184.3 197.9 205.2 191.4 171.0 149.4 178.4 196.6 12

13 Mutual fund shares 0.7 1.0 1.7 2.2 2.7 2.9 3.0 3.0 4.3 5.2 13

14 Trade receivables 57.3 57.2 59.9 61.5 63.6 64.6 69.9 74.8 79.3 79.6 14

15 Miscellaneous assets 37.8 33.6 42.8 47.0 47.8 47.9 49.3 79.0 84.6 89.9 15

16 Total liabilities 504.9 513.8 526.7 531.0 537.8 546.4 580.0 612.9 670.4 710.9 16

17 Security RPs 0.0 0.0 0.0 0.0 0.0 0.0 1.7 0.9 2.1 1.2 17

18 Taxes payable (net) 3.3 3.9 4.4 3.3 3.4 3.4 3.7 -3.7 1.0 1.5 18

19 Miscellaneous liabilities 501.6 509.9 522.3 527.7 534.4 543.0 574.6 615.7 667.2 708.3 19

L.115 Life Insurance Companies

Billions of dollars

 1 Total financial assets 2063.6 2246.3 2514.8 2769.5 3067.9 3135.7 3224.6 3335.0 3772.8 4130.3 1

 2 Checkable deposits and currency 5.2 4.3 8.1 5.4 5.5 5.0 36.8 35.3 47.3 53.3 2

 3 Money market fund shares 9.1 9.2 9.3 9.5 9.6 9.8 9.9 12.3 12.6 17.2 3

 4 Security RPs 0.0 0.0 0.0 0.0 0.0 0.0 1.3 4.7 2.2 3.6 4

 5 Credit market instruments 1587.5 1657.0 1751.1 1828.0 1886.0 1943.9 2071.5 2300.3 2478.8 2643.9 5

 6 Open market paper 45.5 48.4 65.9 73.4 75.8 71.2 51.7 55.7 37.9 27.4 6

 7 Treasury securities 108.1 93.2 85.5 71.3 62.8 58.1 58.0 89.3 80.2 81.9 7

 8 Agency- and GSE-backed securities 242.9 244.1 226.7 217.0 224.4 235.4 253.5 330.9 348.9 357.1 8

 9 Municipal securities 11.9 13.4 16.7 18.4 20.1 19.1 18.7 19.9 26.1 30.1 9

10 Corporate and foreign bonds 867.0 946.2 1041.7 1124.4 1166.9 1214.8 1334.3 1440.0 1610.5 1756.3 10

11 Other loans and advances 99.0 103.6 107.9 109.9 105.4 109.3 112.2 114.4 114.2 117.8 11

12 Mortgages 213.1 208.2 206.8 213.6 230.8 235.9 243.0 250.0 260.9 273.3 12

13 Corporate equities 309.6 406.9 539.7 683.2 909.0 891.9 811.3 708.9 919.3 1053.9 13

14 Mutual fund shares 33.5 42.5 57.2 73.2 98.7 97.0 88.3 76.6 91.7 114.4 14

15 Miscellaneous assets 118.8 126.4 149.2 170.1 159.1 188.1 205.4 197.0 220.9 243.9 15

16 Total liabilities 1953.9 2115.6 2359.7 2599.7 2882.8 2942.8 3034.8 3140.4 3539.4 3869.7 16

17 Security RPs 0.0 0.0 0.0 0.0 0.0 0.0 1.3 13.9 14.7 13.5 17

18 Other loans and advances 0.5 1.6 1.8 2.5 3.2 2.5 3.1 5.1 8.0 11.1 18

19 Life insurance reserves 536.3 580.1 632.7 684.7 748.9 782.7 842.2 881.6 972.7 1018.8 19

20 Pension fund reserves (1) 890.6 974.0 1116.3 1288.4 1478.4 1526.3 1558.5 1604.9 1803.2 2027.9 20

21 Taxes payable (net) 12.0 12.5 -1.6 -0.1 0.5 0.1 -0.3 -7.7 -5.8 -2.7 21

22 Miscellaneous liabilities 514.5 547.4 610.5 624.2 651.8 631.2 629.9 642.6 746.6 801.2 22

(1) Annuity reserves held by life insurance companies, excluding unallocated contracts held by private pension funds, which are included in miscellaneous liabilities (line 22).
FFA, 1995-2004, December 6, 2012 73

L.116 Private Pension Funds (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 2898.8 3224.4 3712.9 4143.9 4593.8 4467.5 4049.4 3675.3 4519.8 4922.4 1

 2 Checkable deposits and currency 4.9 5.6 7.0 6.1 7.4 10.8 9.9 10.2 10.4 10.5 2

 3 Time and savings deposits 110.2 119.1 130.1 159.9 120.6 97.7 61.3 57.5 60.7 55.9 3

 4 Money market fund shares 37.9 49.1 62.5 64.8 76.9 81.1 75.1 84.5 84.3 84.9 4

 5 Security RPs 22.4 27.3 28.5 29.7 31.6 26.5 17.7 18.3 20.3 20.6 5

 6 Credit market instruments 608.4 602.3 646.8 639.7 746.9 621.9 587.0 581.7 653.5 654.6 6

 7 Open market paper 24.8 30.8 32.3 35.5 41.4 35.3 27.0 30.7 27.5 28.5 7

 8 Treasury securities 120.8 116.0 118.0 104.8 121.5 111.6 105.2 103.6 116.9 113.0 8

 9 Agency- and GSE-backed securities 213.1 201.8 207.9 190.7 230.3 197.4 202.5 182.9 223.5 235.3 9

10 Corporate and foreign bonds 241.1 244.5 278.5 298.9 341.9 265.7 242.5 254.1 275.3 267.8 10

11 Mortgages 8.6 9.3 10.1 9.9 11.7 11.9 9.8 10.3 10.2 10.0 11

12 Corporate equities 1256.8 1403.1 1603.7 1869.2 1966.2 1970.6 1908.6 1588.6 2096.6 2338.5 12

13 Mutual fund shares 357.0 472.7 660.1 790.0 1056.5 1131.6 962.9 931.9 1126.9 1278.2 13

14 Miscellaneous assets 501.2 545.2 574.2 584.5 587.6 527.3 426.8 402.7 467.3 479.2 14

15 Unallocated insurance contracts (2) 322.2 341.0 351.7 344.3 346.0 308.2 275.8 249.6 317.0 328.4 15

16 Contributions receivable 83.8 89.2 97.6 110.5 92.1 73.0 48.4 49.9 49.8 46.6 16

17 Other 95.3 115.1 124.9 129.7 149.5 146.2 102.6 103.2 100.5 104.1 17

18 Pension fund reserves (liabilities) (3) 2939.4 3268.5 3759.9 4198.1 4651.5 4508.1 4095.9 3717.3 4561.3 4963.0 18

 Memo:

 Total financial assets (4)

19 Defined benefit plans 1466.1 1590.2 1763.5 1907.7 2074.6 1979.0 1810.2 1639.3 1994.5 2132.2 19

20 Defined contibution plans 1432.7 1634.2 1949.3 2236.2 2519.2 2488.6 2239.2 2036.0 2525.3 2790.2 20

(1) Private defined benefit plans and defined contribution plans (including 401(k) type plans).

(2) Assets of private pension plans held at life insurance companies (e.g., GICs, variable annuities); series begins 1985:Q4.

(3) Equal to the value of nonfinancial and financial assets. These liabilities are assets of the household sector.

(4) Additional detail on defined benefit plans and defined contribution plans is available on L.116.b and L.116.c.
74 FFA, 1995-2004, December 6, 2012

L.117 State and Local Government Employee Retirement Funds

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 1327.1 1509.2 1794.5 2030.6 2325.8 2293.1 2206.6 1930.5 2349.2 2577.5 1

 2 Checkable deposits and currency 4.2 7.5 5.3 10.0 9.2 9.9 11.4 12.9 13.7 16.3 2

 3 Time and savings deposits 4.5 2.3 2.4 2.0 1.7 1.6 1.8 1.7 0.8 1.4 3

 4 Money market fund shares 5.9 7.6 9.6 9.9 11.8 13.2 15.4 15.5 13.4 11.6 4

 5 Security RPs 31.5 28.2 28.6 37.5 40.4 39.8 34.0 27.1 23.4 20.2 5

 6 Credit market instruments 509.8 538.4 598.3 661.5 707.0 743.2 689.4 638.7 657.5 675.3 6

 7 Open market paper 31.5 28.2 28.6 37.5 40.4 47.3 51.3 48.0 41.6 35.2 7

 8 Treasury securities 208.2 212.8 219.0 212.6 198.8 179.1 155.1 158.9 148.6 151.0 8

 9 Agency- and GSE-backed securities 63.1 68.6 87.0 106.1 129.0 178.9 180.7 192.6 235.1 258.8 9

10 Municipal securities 1.8 0.6 1.5 3.3 3.0 1.7 1.7 0.9 4.4 1.8 10

11 Corporate and foreign bonds 189.2 211.4 244.5 279.6 310.0 314.2 279.7 217.3 207.4 213.5 11

12 Mortgages 15.9 16.7 17.6 22.4 25.7 22.1 21.0 21.1 20.4 15.1 12

13 Corporate equities 703.5 846.6 1051.3 1188.1 1407.7 1298.7 1260.4 1056.8 1421.0 1600.9 13

14 Mutual fund shares 62.9 73.2 93.4 115.9 140.9 178.3 184.3 167.4 207.9 235.9 14

15 Miscellaneous assets 4.8 5.5 5.6 5.8 7.1 8.2 10.0 10.4 11.3 15.9 15

16 Pension fund reserves (liabilities) (1) 1354.0 1538.3 1825.4 2062.9 2360.2 2340.3 2250.3 1973.5 2396.0 2621.3 16

(1) Equal to the value of nonfinancial and financial assets. These liabilities are assets of the household sector.

L.118 Federal Government Retirement Funds (1)

Billions of dollars

 1 Total financial assets 541.1 605.8 659.1 716.0 774.0 796.7 859.7 894.0 958.9 1023.6 1

 2 Credit market instruments 23.3 25.6 27.5 30.2 33.1 35.1 44.8 58.0 64.8 70.0 2

 3 Treasury securities 22.2 24.4 26.1 28.5 31.4 33.4 40.6 50.4 55.5 60.3 3

 4 Agency- and GSE-backed securities 0.6 0.7 0.7 1.0 0.9 1.0 2.6 4.8 5.7 5.8 4

 5 Corporate and foreign bonds 0.5 0.5 0.6 0.7 0.7 0.7 1.6 2.9 3.7 4.0 5

 6 Corporate equities 11.5 18.8 29.9 43.0 56.9 56.6 49.1 45.7 79.2 97.7 6

 7 Miscellaneous assets (2) 506.3 561.4 601.7 642.9 684.0 704.9 765.8 790.3 815.0 855.9 7

 8 Pension fund reserves (liabilities) (3) 541.1 605.8 659.1 716.0 774.0 796.7 859.7 894.0 958.9 1023.6 8

(1) Includes the Thrift Savings Plan, the National Railroad Retirement Investment Trust, and nonmarketable government securities held by federal government retirement funds.

(2) Includes nonmarketable government securities held by the civil service retirement and disability fund, Railroad Retirement Board, judicial retirement fund, military

 retirement fund, and foreign service retirement and disability fund.

(3) Liabilities of the sector are assets of the household sector.
FFA, 1995-2004, December 6, 2012 75

L.119 Money Market Mutual Funds (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 741.3 886.7 1042.5 1327.9 1579.6 1812.1 2240.6 2223.9 2016.4 1879.8 1

 2 Foreign deposits 19.7 23.1 23.2 30.1 41.1 87.2 115.0 108.1 71.5 78.5 2

 3 Checkable deposits and currency -3.5 -1.1 1.5 -1.0 -3.3 1.5 5.4 -1.4 -2.1 0.6 3

 4 Time and savings deposits 52.3 82.7 111.3 123.9 155.4 154.8 244.0 220.2 166.8 167.2 4

 5 Security RPs 87.8 103.8 126.6 138.8 140.5 182.8 226.2 273.4 252.6 234.0 5

 6 Credit market instruments 545.5 634.3 721.9 970.5 1155.3 1317.5 1584.9 1567.1 1471.3 1346.3 6

 7 Open market paper 235.5 273.9 336.0 415.1 525.3 620.4 623.7 585.2 459.9 405.8 7

 8 Treasury securities 70.0 90.2 86.2 107.9 103.8 91.6 137.5 142.2 132.1 98.2 8

 9 Agency- and GSE-backed securities 90.8 101.8 96.3 172.4 191.1 182.9 324.4 333.1 328.6 267.5 9

10 Municipal securities 127.7 144.5 167.0 192.8 210.4 242.5 276.7 278.5 292.1 313.8 10

11 Corporate and foreign bonds 21.5 23.9 36.4 82.2 124.8 180.2 222.5 228.1 258.7 261.0 11

12 Miscellaneous assets 39.4 43.8 58.1 65.7 90.6 68.3 65.1 56.5 56.2 53.3 12

13 Total shares outstanding (liabilities) 741.3 886.7 1042.5 1327.9 1579.6 1812.1 2240.6 2223.9 2016.4 1879.8 13

(1) Open-end investment companies; excludes funding vehicles for variable annuities, which are included in the life insurance sector (table L.115).

L.120 Mutual Funds (1)

Billions of dollars

 1 Total financial assets 1852.8 2342.4 2989.4 3613.1 4538.5 4433.1 4135.4 3638.4 4654.2 5436.3 1

 2 Security RPs 50.2 47.5 57.8 70.9 80.8 99.6 70.7 81.6 94.5 112.6 2

 3 Credit market instruments 771.3 820.2 901.1 1028.4 1076.8 1103.1 1229.7 1368.4 1506.4 1623.0 3

 4 Open market paper 50.2 47.2 57.8 70.9 80.8 99.6 70.7 63.1 76.2 94.2 4

 5 Treasury securities 143.8 125.8 136.4 141.0 117.3 127.4 117.6 134.8 144.2 149.0 5

 6 Agency- and GSE-backed securities 171.3 204.4 213.3 234.9 271.1 283.7 368.3 422.4 447.5 462.7 6

 7 Municipal securities 210.2 213.3 219.8 242.6 239.4 230.4 253.0 277.3 290.2 294.3 7

 8 Corporate and foreign bonds 185.5 218.5 259.4 322.0 348.2 337.7 403.1 453.4 532.0 596.8 8

 9 Other loans and advances 10.2 11.0 14.4 17.1 19.9 24.3 17.0 17.5 16.4 26.0 9

10 Corporate equities 1024.9 1470.0 2018.7 2506.2 3376.7 3226.9 2834.0 2187.4 3051.3 3693.6 10

11 Miscellaneous assets 6.3 4.7 11.8 7.7 4.2 3.5 0.9 0.9 2.0 7.0 11

12 Total shares outstanding (liabilities) 1852.8 2342.4 2989.4 3613.1 4538.5 4433.1 4135.4 3638.4 4654.2 5436.3 12

(1) Open-end investment companies; excludes funding vehicles for variable annuities, which are included in the life insurance sector (table L.115).

L.121 Closed-End and Exchange-Traded Funds

Billions of dollars

 Closed-end funds

 1 Total financial assets 136.4 144.4 145.9 148.8 152.0 141.8 139.5 150.7 205.3 245.5 1

 2 Credit market instruments 94.5 97.4 96.3 101.2 110.8 105.3 108.5 117.1 152.6 163.6 2

 3 Treasury securities 11.1 11.2 9.8 8.8 7.6 6.7 6.7 3.9 4.6 6.8 3

 4 Municipal securities 58.2 59.1 59.4 60.7 69.7 67.7 74.7 86.0 89.3 89.1 4

 5 Corporate and foreign bonds 25.2 27.1 27.1 31.8 33.5 30.9 27.1 27.1 58.8 67.6 5

 6 Corporate equities 41.9 47.0 49.6 47.6 41.2 36.5 31.0 33.6 52.7 81.8 6

 7 Total shares outstanding (liabilities) 136.4 144.4 145.9 148.8 152.0 141.8 139.5 150.7 205.3 245.5 7

 Exchange-traded funds

 8 Total financial assets 1.1 2.4 6.7 15.6 33.9 65.6 83.0 102.0 150.8 227.3 8

 9 Credit market instruments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3.7 4.5 8.2 9

10 Treasury securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2.0 2.1 4.9 10

11 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

12 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.8 2.4 3.3 12

13 Corporate equities 1.1 2.4 6.7 15.6 33.9 65.6 83.0 98.2 146.3 219.0 13

14 Total shares outstanding (liabilities) 1.1 2.4 6.7 15.6 33.9 65.6 83.0 102.0 150.8 227.3 14
76 FFA, 1995-2004, December 6, 2012

L.122 Government-Sponsored Enterprises (GSEs) (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 897.4 989.2 1100.8 1405.8 1723.2 1965.0 2309.4 2549.3 2794.3 2882.9 1

 2 Checkable deposits and currency 1.5 0.8 2.1 5.0 12.1 4.4 6.7 14.8 28.8 39.1 2

 3 Time and savings deposits 0.0 0.0 6.4 4.7 10.0 22.2 30.3 25.3 16.7 23.3 3

 4 Federal funds and security RPs (net) 106.3 94.5 90.4 77.0 89.7 80.6 104.4 95.3 75.3 93.6 4

 5 Credit market instruments 762.8 833.8 934.2 1251.5 1538.8 1794.4 2099.1 2323.1 2564.1 2613.0 5

 6 Open market paper 25.5 35.1 27.6 56.2 23.9 31.1 33.8 10.4 6.7 5.8 6

 7 Treasury securities 58.0 18.8 25.9 25.2 30.9 13.3 13.6 25.7 13.5 12.9 7

 8 Agency- and GSE-backed securities 190.8 256.6 324.2 482.7 655.6 810.9 1017.8 1149.5 1088.9 886.5 8

 9 Municipal securities 7.8 12.1 12.7 19.2 22.7 29.2 35.4 39.4 44.4 44.6 9

10 Corporate and foreign bonds 29.9 38.1 44.1 68.7 97.5 131.1 155.7 189.3 222.8 414.8 10

11 Other loans and advances 166.0 195.3 230.7 324.2 432.3 477.6 505.9 514.7 545.8 619.4 11

12 Sallie Mae 3.5 2.4 1.4 1.1 0.8 0.8 0.8 0.4 0.3 0.0 12

13 Farm Credit System 30.2 31.6 31.6 34.9 35.8 38.9 41.8 43.8 43.8 43.6 13

14 FHLB 132.3 161.4 197.8 288.2 395.7 437.9 463.3 470.5 501.7 575.8 14

15 Mortgages 250.4 244.1 239.4 247.0 242.0 264.3 297.5 357.3 621.5 629.0 15

16 Home 209.5 202.9 198.2 203.9 193.5 209.6 231.2 276.8 519.1 508.6 16

17 Consolidated trusts (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

18 Other 209.5 202.9 198.2 203.9 193.5 209.6 231.2 276.8 519.1 508.6 18

19 Multifamily residential 18.5 17.7 16.2 16.2 20.5 25.0 33.2 41.7 68.2 82.5 19

20 Consolidated trusts (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

21 Other 18.5 17.7 16.2 16.2 20.5 25.0 33.2 41.7 68.2 82.5 21

22 Farm 22.5 23.5 25.0 27.0 28.1 29.7 33.1 38.8 34.2 38.0 22

23 Consumer credit (3) 34.3 33.8 29.5 28.4 33.8 37.0 39.4 36.8 20.6 0.0 23

24 Miscellaneous assets 26.9 60.1 67.7 67.6 72.5 63.4 68.9 90.9 109.4 113.9 24

25 Total liabilities 872.1 963.1 1071.1 1371.0 1684.3 1923.5 2278.8 2538.8 2752.8 2819.9 25

26 Credit market instruments 807.0 897.4 996.5 1275.4 1594.2 1826.4 2130.6 2350.4 2601.3 2676.3 26

27 GSE issues (4) 807.0 897.4 996.5 1275.4 1594.2 1826.4 2130.6 2350.4 2601.3 2676.3 27

28 Consolidated trusts (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

29 Other 807.0 897.4 996.5 1275.4 1594.2 1826.4 2130.6 2350.4 2601.3 2676.3 29

30 U.S. government loans 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 30

31 Miscellaneous liabilities 65.1 65.7 74.6 95.6 90.1 97.0 148.2 188.4 151.5 143.7 31

(1) Federal Home Loan Banks, Fannie Mae, Freddie Mac, Farmer Mac, Farm Credit System, the Financing Corporation, and the Resolution Funding Corporation. The Student Loan Marketing Association

 (Sallie Mae) was included until it was fully privatized in 2004:Q4. Beginning 2010:Q1, almost all Fannie Mae and Freddie Mac mortgage pools (table L.123) are consolidated on Fannie Mae’s and

 Freddie Mac’s balance sheets.

(2) Consolidated trusts refers to the unpaid balance of securitized mortgages Fannie Mae and Freddie Mac moved on to their balance sheets at the beginning of 2010 in response to new accounting rules.

(3) Sallie Mae student loans.

(4) Such issues are classified as agency- and GSE-backed securities.

L.123 Agency- and GSE-Backed Mortgage Pools (1)

Billions of dollars

 1 Total financial assets 1570.7 1711.7 1826.3 2019.0 2293.5 2493.2 2831.8 3158.6 3343.3 3384.0 1

 2 Home mortgages 1543.4 1678.8 1788.1 1970.2 2234.7 2425.6 2748.5 3063.7 3233.5 3277.3 2

 3 Multifamily residential mortgages 26.9 32.5 37.8 48.3 57.5 66.0 81.6 94.5 108.7 105.7 3

 4 Commercial mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Farm mortgages 0.4 0.4 0.4 0.5 1.3 1.6 1.7 0.4 1.0 0.9 5

 6 Total pool securities (liabilities)(2) 1570.7 1711.7 1826.3 2019.0 2293.5 2493.2 2831.8 3158.6 3343.3 3384.0 6

(1) GNMA, Fannie Mae, Freddie Mac, Farmer Mac, and Farmers Home Administration pools. Beginning 2010:Q1, almost all Fannie Mae and Freddie Mac mortgage pools are consolidated on Fannie

 Mae’s and Freddie Mac’s balance sheets (table L.122). Also includes agency- and GSE-backed mortgage pool securities which are used as collateral for agency- and GSE-backed CMOs and privately

 issued CMOs. Excludes Federal Financing Bank holdings of pool securities, which are included with federal government mortgages and other loans and advances.

(2) Such issues are classified as agency- and GSE-backed securities.
FFA, 1995-2004, December 6, 2012 77

L.124 Issuers of Asset-Backed Securities (ABS)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 662.9 772.3 907.5 1163.8 1320.5 1497.0 1751.7 1981.3 2217.4 2657.7 1

 2 Treasury securities 0.0 0.0 0.0 0.0 0.0 0.1 0.5 0.9 2.8 8.0 2

 3 Agency- and GSE-backed securities (1) 127.4 122.8 102.1 126.8 167.8 176.4 211.4 286.5 369.1 358.0 3

 4 Other loans and advances 30.0 38.3 64.6 90.3 90.1 104.2 127.7 144.0 149.2 168.1 4

 5 Mortgages (2) 241.5 277.6 339.4 467.8 538.7 604.5 725.1 836.0 1009.2 1449.4 5

 6 Home 193.8 215.4 253.8 321.9 353.7 385.5 463.2 543.6 666.5 1055.1 6

 7 Multifamily residential 11.9 15.7 20.2 33.1 41.6 46.9 52.8 58.3 66.4 72.9 7

 8 Commercial 35.8 46.5 65.4 112.8 143.4 172.1 209.1 234.2 276.3 321.4 8

 9 Consumer credit 213.1 273.5 320.5 393.9 456.7 528.4 597.8 630.4 594.8 571.5 9

10 Trade credit 50.9 60.1 81.0 85.0 67.2 83.3 89.1 83.5 92.3 102.6 10

11 Total liabilities 666.4 781.0 918.3 1176.4 1330.3 1503.5 1758.6 1987.1 2222.9 2662.5 11

12 Commercial paper 101.2 146.7 256.1 381.8 520.8 645.8 607.8 566.1 530.0 526.1 12

13 Corporate bonds (net) (3) 565.1 634.3 662.2 794.6 809.5 857.7 1150.8 1421.0 1692.9 2136.4 13

 Memo:

 Securitized assets not included above

14 Consumer leases (4) 3.5 8.7 10.8 12.7 9.7 6.6 6.8 5.7 5.5 4.8 14

15 REIT assets (5) 7.6 7.4 11.1 13.9 11.5 10.0 6.7 14.8 30.3 89.9 15

 Securitized liabilities not included above

16 Commercial paper (6) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

(1) Agency- and GSE-backed mortgage pool securities backing privately issued CMOs.

(2) Mortgages backing privately issued pool securities and privately issued CMOs.

(3) Liabilities net of assets.

(4) Receivables from operating leases, such as consumer automobile leases, are booked as current income when payments are received and are not included in financial assets (or household liabilities).

 The leased automobile is a nonfinancial asset.

(5) Included in table L.126.

(6) Included in table L.110 line 43.

L.125 Finance Companies (1)

Billions of dollars

 1 Total financial assets 705.4 757.9 799.3 859.5 1016.7 1212.9 1304.0 1445.6 1679.5 1858.0 1

 2 Checkable deposits and currency 16.3 19.0 18.6 19.6 21.2 23.7 23.0 25.2 27.1 26.3 2

 3 Time and savings deposits 16.3 19.0 22.7 24.0 31.7 35.6 42.8 46.8 63.2 61.3 3

 4 Credit market instruments 654.6 697.1 720.8 812.8 946.6 1101.9 1170.7 1292.5 1468.7 1675.9 4

 5 Corporate and foreign bonds 95.3 110.8 120.5 127.6 154.6 173.4 192.4 210.5 263.8 256.0 5

 6 Other loans and advances 301.6 304.7 304.1 340.9 395.1 456.2 440.2 444.0 441.7 451.5 6

 7 Mortgages 105.5 126.7 128.6 160.9 195.3 237.9 258.2 330.5 370.2 476.0 7

 8 Consumer credit 152.1 154.9 167.5 183.3 201.6 234.4 280.0 307.5 393.0 492.3 8

 9 Miscellaneous assets 18.2 22.9 37.3 3.1 17.2 51.7 67.5 81.1 120.5 94.5 9

10 Total liabilities 724.2 783.3 812.9 864.2 1012.7 1233.7 1299.7 1435.1 1674.9 1864.3 10

11 Credit market instruments 500.4 555.1 584.4 645.3 720.9 807.1 818.0 884.2 995.3 1129.6 11

12 Open market paper 168.6 178.0 202.6 233.3 230.4 240.1 162.4 147.8 145.1 175.3 12

13 Corporate bonds 300.0 336.8 341.5 365.6 430.3 503.3 571.3 635.3 743.2 817.4 13

14 Depository institution loans n.e.c. 31.8 40.3 40.3 46.3 60.1 63.8 84.3 101.1 106.9 136.9 14

15 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

16 Taxes payable 4.9 5.7 6.5 7.3 8.1 9.1 10.2 11.6 13.2 15.0 16

17 Miscellaneous liabilities 218.9 222.6 222.0 211.6 283.7 417.6 471.5 539.2 666.4 719.6 17

18 Foreign direct investment in U.S. 7.5 8.9 5.5 8.0 9.9 9.3 12.9 14.5 30.7 21.8 18

19 Investment by parent 51.1 54.6 63.1 54.0 112.5 138.6 156.5 179.6 202.8 257.7 19

20 Other 160.4 159.1 153.4 149.6 161.3 269.7 302.1 345.2 432.9 440.1 20

 Memo:

21 Consumer leases not included above (2) 80.8 93.2 98.8 96.6 102.9 109.4 107.4 89.8 79.0 74.1 21

(1) Includes retail captive finance companies and mortgage companies.

(2) See footnote (4), table L.124.
78 FFA, 1995-2004, December 6, 2012

L.126 Real Estate Investment Trusts (REITs)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 33.3 38.2 64.3 70.7 68.3 65.0 75.9 100.6 135.0 251.6 1

 2 Checkable deposits and currency 0.0 2.2 3.3 4.1 4.4 4.4 5.5 5.4 9.2 12.2 2

 3 Credit market instruments 26.0 30.4 50.6 45.5 44.1 38.9 48.0 70.2 96.6 199.1 3

 4 Agency- and GSE-backed securities 9.0 12.2 21.2 13.1 11.4 12.0 20.3 31.8 28.9 44.7 4

 5 Corporate and foreign bonds 2.9 4.3 6.5 6.1 9.2 9.4 9.8 10.4 18.9 36.0 5

 6 Mortgages 14.1 13.8 22.9 26.3 23.5 17.5 17.9 28.1 48.8 118.4 6

 7 Home 6.9 8.0 14.0 14.8 11.3 7.8 8.6 18.7 37.2 103.1 7

 8 Multifamily residential 1.6 1.2 2.1 2.1 2.3 1.7 1.4 1.3 1.5 1.6 8

 9 Commercial 5.6 4.6 6.9 9.4 10.0 8.0 7.9 8.1 10.1 13.6 9

10 Miscellaneous assets 7.3 5.6 10.5 21.2 19.9 21.7 22.4 25.0 29.3 40.4 10

11 Total liabilities 62.2 79.4 139.0 205.6 215.9 218.0 231.1 275.5 314.8 461.2 11

12 Security RPs 10.9 13.7 24.9 15.1 14.9 12.4 21.6 36.2 41.6 70.3 12

13 Credit market instruments 44.6 56.5 96.1 158.8 164.8 167.6 171.4 198.4 230.7 340.1 13

14 Open market paper 0.0 0.0 0.0 0.2 0.0 0.0 0.0 0.0 0.0 0.0 14

15 Corporate bonds 15.5 16.8 31.6 53.4 61.7 64.6 69.2 83.3 107.1 183.8 15

16 Depository institution loans n.e.c. 5.0 7.8 17.6 33.6 24.2 19.4 16.4 18.1 17.8 24.9 16

17 Mortgages 24.1 31.9 46.8 71.6 78.8 83.6 85.8 97.0 105.9 131.4 17

18 Miscellaneous liabilities 6.7 9.2 18.0 31.6 36.3 38.1 38.1 40.9 42.5 50.8 18

 Memo:

19 Securitized assets included above 7.6 7.4 11.1 13.9 11.5 10.0 6.7 14.8 30.3 89.9 19

20 Agency- and GSE-backed securities 4.2 4.5 4.9 5.0 3.7 3.5 0.3 0.0 0.0 0.0 20

21 Home mortgages 3.5 2.6 5.7 7.5 5.6 5.4 5.5 13.2 28.9 86.8 21

22 Multifamily residential mortgages 0.0 0.3 0.4 0.8 0.4 0.1 0.1 0.1 0.1 0.1 22

23 Commercial mortgages 0.0 0.0 0.0 0.6 2.0 1.1 0.8 1.4 1.3 3.1 23
FFA, 1995-2004, December 6, 2012 79

L.127 Security Brokers and Dealers

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 568.1 636.4 779.2 921.2 1001.0 1221.4 1465.6 1335.4 1613.0 1844.9 1

 2 Checkable deposits and currency 13.7 15.7 21.7 25.4 28.7 30.3 47.1 44.2 47.2 62.9 2

 3 Credit market instruments 183.4 167.7 182.6 189.4 154.7 223.6 316.0 344.4 424.1 394.9 3

 4 Open market paper 22.1 23.7 24.3 28.0 26.0 39.2 48.2 43.5 49.4 48.0 4

 5 Treasury securities 18.3 -12.8 -5.3 15.8 -42.6 -3.3 9.8 -3.9 37.8 -44.6 5

 6 Agency- and GSE-backed securities 54.0 55.2 50.4 50.9 66.0 63.7 77.8 91.8 83.7 107.3 6

 7 Municipal securities 12.7 10.8 13.2 13.1 11.9 11.3 19.0 21.0 24.9 32.0 7

 8 Corporate and foreign bonds 73.8 86.9 92.6 74.7 86.6 103.8 151.0 183.1 219.3 238.0 8

 9 Other loans and advances 2.6 3.9 7.4 6.7 6.8 8.9 10.3 8.9 9.0 14.2 9

10 Corporate equities 34.2 37.9 51.9 54.4 66.9 77.2 85.1 74.9 100.5 129.1 10

11 Security credit 78.6 94.4 131.2 152.8 227.9 235.1 196.4 148.2 182.5 264.0 11

12 Miscellaneous assets 258.2 320.7 391.8 499.3 522.8 655.1 821.0 723.7 858.8 994.0 12

13 Total liabilities 541.8 609.5 750.1 885.8 960.5 1185.3 1424.6 1272.7 1540.1 1777.8 13

14 Security RPs (net) 182.4 180.9 203.5 208.2 245.2 302.2 353.2 344.2 490.4 526.9 14

15 Credit market instruments 29.3 27.3 35.3 42.5 25.3 40.9 42.3 40.6 47.0 62.2 15

16 Corporate bonds 29.3 27.3 35.3 42.5 25.3 40.9 42.3 40.6 47.0 62.2 16

17 Depository institution loans n.e.c. (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

18 Trade payables 10.3 14.3 19.9 18.9 30.9 35.9 39.2 37.4 28.2 36.0 18

19 Security credit 227.1 263.7 337.9 419.5 448.7 587.6 629.5 590.6 676.3 774.2 19

20 Customer credit balances (HH) 127.6 162.9 215.5 276.7 323.9 412.4 454.3 412.7 475.4 578.3 20

21 From U.S.-chartered depository institutions 65.1 60.2 64.4 76.3 67.6 74.7 81.9 79.2 91.4 102.2 21

22 From foreign banking offices in U.S. 34.4 40.6 58.0 66.5 57.2 100.5 93.3 98.7 109.5 93.7 22

23 Taxes payable 1.1 1.3 1.3 1.3 2.2 2.1 1.9 1.3 1.8 2.2 23

24 Miscellaneous liabilities 91.7 122.1 152.0 195.4 208.3 216.6 358.5 258.5 296.4 376.4 24

25 Foreign direct investment in U.S. 17.4 20.8 29.4 29.7 38.7 54.0 56.1 35.4 37.4 49.6 25

26 Investment by funding corporations 168.6 209.7 248.3 321.9 356.9 360.5 351.7 349.3 379.8 390.3 26

27 Other -94.3 -108.4 -125.6 -156.2 -187.3 -197.9 -49.3 -126.2 -120.8 -63.5 27

(1) Loans extended through the Federal Reserve’s Primary Dealer Credit Facility (PDCF) and the Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility (AMLF).
80 FFA, 1995-2004, December 6, 2012

L.128 Holding Companies (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 493.5 542.0 606.8 729.7 793.0 898.6 1028.0 1143.2 1315.1 1596.2 1

 2 Time and savings deposits 0.8 0.5 0.3 0.9 0.6 0.6 0.7 1.7 1.6 1.8 2

 3 Federal funds and security RPs 0.8 0.9 1.5 5.8 6.9 7.0 6.1 5.5 6.0 2.1 3

 4 Credit market instruments 18.0 22.0 27.4 26.5 32.7 20.5 24.7 27.8 36.4 36.4 4

 5 Treasury securities 3.4 4.0 4.0 0.9 8.8 0.8 1.2 1.3 2.7 2.0 5

 6 Agency- and GSE-backed securities 4.7 4.9 5.5 6.6 5.4 4.8 6.2 10.7 11.6 13.5 6

 7 Corporate and foreign bonds 7.7 10.5 15.5 14.8 15.9 13.2 15.3 12.9 14.2 15.5 7

 8 Other loans and advances 2.3 2.5 2.4 4.1 2.6 1.6 1.9 2.9 7.9 5.3 8

 9 Life insurance reserves 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

10 Miscellaneous assets 473.9 518.6 577.6 696.5 752.9 870.6 996.5 1108.3 1271.1 1555.9 10

11 Net transactions with depository subsidiaries 350.6 384.3 415.5 476.7 501.1 595.9 656.3 722.8 742.7 961.8 11

12 Net transactions with property-casualty insurance co. subs. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

13 Net transactions with life insurance company subsidiaries 0.0 0.0 0.0 0.0 0.0 0.0 15.6 19.6 23.4 25.9 13

14 Net transactions with finance company subsidiaries 28.6 31.5 35.2 36.0 83.9 109.2 144.9 161.1 181.8 234.1 14

15 Net transactions with broker and dealer subsidiaries 53.8 43.5 47.0 85.2 54.2 56.8 24.0 1.4 21.1 23.2 15

16 Net transactions with foreign subsidiaries 18.5 22.6 21.9 21.3 25.4 -7.1 -10.4 -11.1 33.1 7.5 16

17 Other 22.4 36.7 58.0 77.4 88.2 115.9 166.2 214.5 269.0 303.4 17

18 Total liabilities 180.1 205.0 245.5 301.5 355.9 398.4 461.0 521.6 624.3 705.2 18

19 Federal funds and security RPs 0.3 0.8 1.3 6.1 7.4 5.8 4.9 6.6 8.1 2.9 19

20 Credit market instruments 155.3 168.0 186.3 221.2 260.4 288.2 305.5 325.1 376.0 431.7 20

21 Commercial paper 30.1 32.0 37.6 45.4 54.5 55.7 50.6 48.3 42.3 53.1 21

22 Corporate bonds 117.9 118.0 131.0 148.1 164.8 186.8 215.5 238.1 279.5 328.2 22

23 Depository institution loans n.e.c. 7.3 18.0 17.7 27.7 41.1 45.6 39.4 38.7 54.2 50.4 23

24 Miscellaneous liabilities 24.6 36.3 57.9 74.1 88.1 104.4 150.6 189.9 240.3 270.6 24

(1) Parent only bank holding companies and savings and loan holding companies that file the Federal Reserve Board form FR Y-9LP, FR Y-9SP, or FR 2320.
FFA, 1995-2004, December 6, 2012 81

L.129 Funding Corporations (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 365.7 511.4 651.4 793.6 1066.6 1165.0 1258.7 1204.7 1186.7 1190.3 1

 2 Money market fund shares 110.1 175.7 213.4 309.1 400.5 429.0 583.5 568.6 495.3 381.1 2

 3 Security RPs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Credit market instruments 90.1 104.9 157.9 157.2 270.3 293.6 238.8 160.9 198.1 274.3 4

 5 Open market paper 65.5 66.0 121.4 115.2 229.7 259.2 158.6 96.3 79.4 170.5 5

 6 Corporate and foreign bonds 23.8 36.5 33.1 37.6 33.8 24.9 70.8 56.4 111.3 96.8 6

 7 Other loans and advances 0.9 2.4 3.4 4.4 6.8 9.5 9.4 8.2 7.3 7.0 7

 8 Corporate equities (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Miscellaneous assets 165.5 230.7 280.1 327.3 395.7 442.4 436.5 475.2 493.4 534.8 9

10 Investment in foreign banking offices 50.7 64.5 78.8 90.6 93.0 138.7 108.7 127.3 134.7 167.7 10

11 Investment in brokers and dealers 114.8 166.3 201.3 236.8 302.7 303.8 327.7 347.9 358.7 367.1 11

12 Total liabilities 365.7 511.4 651.4 793.6 1066.6 1165.0 1258.7 1204.7 1186.7 1190.3 12

13 Credit market instruments 248.6 312.4 372.6 412.6 504.2 502.6 531.9 521.2 518.1 515.1 13

14 Open market paper 164.2 198.8 228.5 234.4 268.6 265.1 272.2 231.1 212.5 197.4 14

15 Corporate bonds 84.4 113.6 144.2 178.2 235.5 237.5 259.7 290.1 305.5 317.7 15

16 Depository institution loans n.e.c. (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

17 Other loans and advances (4) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

18 Miscellaneous liabilities 117.1 199.0 278.8 381.0 562.4 662.4 726.8 683.5 668.7 675.1 18

19 Foreign direct investment in U.S. -82.2 -79.2 -81.2 -59.5 -8.5 6.6 7.7 7.3 7.6 7.8 19

20 Securities loaned (net) 216.2 276.1 333.3 403.3 419.5 508.2 578.3 575.4 678.0 764.8 20

21 Equity interest under PPIP 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

22 Other (net) -16.8 2.2 26.7 37.3 151.3 147.7 140.9 100.7 -16.9 -97.5 22

(1) Funding subsidiaries, custodial accounts for reinvested collateral of securities lending operations, Federal Reserve lending facilities,

 and funds associated with the Public-Private Investment Program (PPIP).

(2) Common stock of American International Assurance Company Ltd. (AIA) and American Life Insurance Company (ALICO), two life insurance subsidiaries of AIG.

(3) Loans extended by the Federal Reserve to Maiden Lane LLC, Maiden Lane II LLC, Maiden Lane III LLC, Commercial Paper Funding Facility LLC, and American International Group (AIG).

(4) Loans extended by the federal government to the Term Asset-Backed Securities Loan Facility (TALF) and to funds associated with PPIP.
82 FFA, 1995-2004, December 6, 2012

L.200 U.S. Official Reserve Assets and SDR Allocations (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total liabilities 82.1 71.1 65.5 77.6 67.2 63.0 63.8 74.6 82.2 83.4 1

 2 Federal government: SDR allocations 7.3 7.0 6.6 6.9 6.7 6.4 6.2 6.7 7.3 7.6 2

 3 Rest of the world 74.8 64.0 58.9 70.7 60.5 56.6 57.6 68.0 74.9 75.8 3

 4 SDR holdings 11.0 10.3 10.0 10.6 10.3 10.5 10.8 12.2 12.6 13.6 4

 5 Reserve position in IMF (net) 14.6 15.4 18.1 24.1 18.0 14.8 17.9 22.0 22.5 19.5 5

 6 Foreign currency holdings 49.1 38.3 30.8 36.0 32.2 31.2 29.0 33.8 39.7 42.7 6

 7 Total assets 93.1 82.1 76.6 88.7 78.2 74.0 74.8 85.7 93.2 94.4 7

 8 Federal government 53.8 44.9 42.0 51.0 44.5 41.1 43.2 51.1 55.2 54.5 8

 9 Monetary gold (2) 0.0 0.0 0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

10 SDR holdings 11.0 10.3 10.0 10.6 10.3 10.5 10.8 12.2 12.6 13.6 10

11 Reserve position in IMF (net) 14.7 15.5 18.2 24.2 18.1 14.9 18.0 22.1 22.7 19.6 11

12 Foreign currency holdings 28.0 19.0 13.8 16.2 16.0 15.6 14.4 16.9 19.9 21.4 12

13 Rest of the world: SDR allocations 7.3 7.0 6.6 6.9 6.7 6.4 6.2 6.7 7.3 7.6 13

14 Monetary authority 32.1 30.2 28.0 30.7 27.1 26.6 25.5 27.9 30.8 32.3 14

15 Monetary gold (2) 11.1 11.0 11.0 11.0 11.0 11.0 11.0 11.0 11.0 11.0 15

16 Reserve position in IMF (net) -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 16

17 Foreign currency holdings 21.1 19.3 17.0 19.8 16.1 15.7 14.6 16.9 19.9 21.4 17

18 Discrepancy: monetary gold -11.1 -11.0 -11.1 -11.0 -11.0 -11.0 -11.0 -11.0 -11.0 -11.0 18

(1) Includes federal government liability to IMF for special drawing rights (SDRs) allocations and accrued interest.

(2) By international accounting standards, monetary gold is a financial asset for which there is no corresponding liability.

L.201 Special Drawing Rights (SDRs) Certificates and Treasury Currency

Billions of dollars

 SDR certificates:

 1 Liab: Federal government 10.2 9.7 9.2 9.2 6.2 2.2 2.2 2.2 2.2 2.2 1

 2 Asset: Monetary authority 10.2 9.7 9.2 9.2 6.2 2.2 2.2 2.2 2.2 2.2 2

 Treasury currency:

 3 Liab: Federal government 18.3 18.9 19.3 19.9 20.9 23.2 24.5 25.5 26.0 26.7 3

 4 Asset: Monetary authority 24.0 25.0 25.5 26.3 28.0 31.6 33.0 34.6 35.5 36.4 4

 5 Discrepancy (seigniorage) -5.7 -6.1 -6.2 -6.4 -7.1 -8.5 -8.6 -9.1 -9.5 -9.7 5

L.202 U.S. Deposits in Foreign Countries

Billions of dollars

 1 Total rest of the world liability 418.8 521.7 618.5 627.6 676.5 803.3 810.1 831.1 867.1 957.0 1

 Held by:

 2 Household sector 23.4 35.5 37.2 37.7 40.7 48.3 48.7 49.9 52.1 57.5 2

 3 Nonfinancial corporate business 17.4 28.2 23.1 30.5 31.5 24.0 15.5 20.6 38.1 53.7 3

 4 Money market mutual funds 19.7 23.1 23.2 30.1 41.1 87.2 115.0 108.1 71.5 78.5 4

 5 Discrepancy--unallocated assets 358.4 434.9 535.0 529.2 563.3 643.8 630.9 652.5 705.3 767.2 5
FFA, 1995-2004, December 6, 2012 83

L.203 Net Interbank Transactions

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total liabilities 280.8 234.1 212.5 172.1 183.5 164.3 114.4 127.7 152.4 147.2 1

 2 Monetary authority 70.2 69.7 75.8 68.4 90.6 63.4 64.8 70.4 71.0 65.6 2

 3 U.S.-chartered depository institutions 55.8 11.1 15.0 45.1 90.1 137.5 121.5 175.0 221.3 287.9 3

 4 Foreign banking offices in U.S. 181.0 178.5 148.2 93.1 48.2 7.4 -9.3 -52.2 -68.9 -136.1 4

 5 Banks in U.S.-affiliated areas -1.6 -1.4 -1.4 -2.0 -2.2 -1.7 -2.8 -2.5 -2.5 -3.5 5

 6 Credit unions -24.5 -23.9 -25.1 -32.5 -43.0 -42.3 -59.8 -63.0 -68.6 -66.6 6

 7 Total assets 318.2 274.0 273.4 237.2 256.2 218.4 169.9 179.5 213.4 192.4 7

 8 Rest of the world 247.7 199.9 194.8 167.2 165.7 154.0 105.1 108.7 142.7 125.9 8

 9 Monetary authority 0.2 4.4 2.8 1.7 -0.0 1.0 0.0 0.5 -0.3 1.0 9

10 U.S.-chartered depository institutions 69.3 68.6 72.9 67.4 89.1 63.0 64.2 69.1 70.2 64.9 10

11 Foreign banking offices in U.S. 0.8 1.1 2.9 1.0 1.4 0.5 0.6 1.2 0.9 0.7 11

12 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

13 Discrepancy -37.3 -39.9 -60.9 -65.1 -72.7 -54.1 -55.4 -51.8 -61.0 -45.2 13

 Memo:

 Vault cash:

14 Liab.: Monetary authority 40.6 45.2 45.0 42.1 66.6 44.4 47.3 47.8 48.0 41.5 14

15 Asset: U.S.-chartered depository institutions 40.6 45.2 45.0 42.1 66.6 44.4 47.3 47.8 48.0 41.5 15

 Depository institution reserves:

16 Liab.: Monetary authority 29.6 24.5 30.8 26.3 24.0 19.0 17.5 22.5 23.1 24.0 16

17 Asset: U.S.-chartered depository institutions 28.8 23.4 27.9 25.3 22.6 18.6 16.9 21.3 22.2 23.3 17

18 Foreign banking offices in U.S. 0.8 1.1 2.9 1.0 1.4 0.5 0.6 1.2 0.9 0.7 18

19 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 Other transactions with the monetary authority

20 Liab: U.S.-chartered depository institutions 0.2 4.4 2.8 1.7 -0.0 1.0 0.0 0.5 -0.3 1.0 20

21 Asset: Monetary authority 0.2 4.4 2.8 1.7 -0.0 1.0 0.0 0.5 -0.3 1.0 21

22 Federal Reserve float 0.1 4.3 0.7 1.6 -0.2 0.9 -0.0 0.4 -0.3 0.9 22

23 Loans to member banks 0.1 0.1 2.0 0.0 0.2 0.1 0.0 0.0 0.1 0.0 23

 Transactions with banks in foreign countries (net):

24 Liab.: U.S.-chartered depository institutions (net) 79.6 48.5 62.0 85.1 133.5 179.3 167.0 213.1 256.7 317.4 24

25 Due to foreign affiliates 128.7 126.8 173.1 196.7 226.7 302.0 324.8 323.9 433.6 467.4 25

26 - Due from foreign affiliates 49.1 78.4 111.1 111.6 93.2 122.7 157.8 110.8 176.9 150.0 26

27 Foreign banking offices in U.S. (net) 178.6 167.1 148.6 92.9 41.7 -14.8 -50.2 -83.0 -95.2 -167.4 27

28 Due to foreign affiliates 99.9 110.4 99.7 133.0 147.9 133.6 163.3 176.2 197.4 274.3 28

29 - Due from foreign affiliates -78.7 -56.6 -48.8 40.1 106.2 148.4 213.5 259.3 292.6 441.8 29

30 Less: Deposits at foreign banks 10.4 15.6 15.8 10.8 9.5 10.5 11.8 21.4 18.9 24.1 30

31 U.S.-chartered depository institutions 5.4 10.6 11.7 10.6 9.4 9.8 11.1 21.3 18.7 23.6 31

32 Foreign banking offices in U.S. 5.0 5.0 4.1 0.2 0.2 0.7 0.7 0.1 0.1 0.5 32

33 Asset: Rest of the world (1) 247.7 199.9 194.8 167.2 165.7 154.0 105.1 108.7 142.7 125.9 33

 Transactions between U.S. depository institutions (net) (2):

34 U.S.-chartered depository institutions (net) -18.6 -31.1 -38.2 -31.0 -34.1 -33.0 -34.5 -17.3 -16.4 -6.9 34

35 Due to (3): 40.3 33.8 19.4 25.2 44.8 53.0 55.0 73.1 81.7 115.4 35

36 Foreign banking offices in U.S. 51.5 48.5 53.8 55.9 72.2 63.1 47.9 59.4 71.7 90.5 36

37 Banks in U.S.-affiliated areas 1.6 1.4 1.4 2.0 2.2 1.7 2.8 2.5 2.5 3.5 37

38 Credit unions 24.5 23.9 25.1 32.5 43.0 42.3 59.8 63.0 68.6 66.6 38

39 - Due from: Foreign banking offices in U.S. 58.9 64.9 57.6 56.3 78.9 86.0 89.5 90.3 98.1 122.3 39

40 Unallocated (2) -37.3 -39.9 -60.9 -65.1 -72.7 -54.1 -55.4 -51.8 -61.0 -45.2 40

(1) Sum of lines 24 and 27 less line 30.

(2) Interbank transactions between U.S. banks should net to zero and thus are not shown in lines 1 through 12 above. However, the unallocated amount (line 40), which is due to inconsistencies

 in source data, appears on line 13 as the discrepancy between liabilities and assets.

(3) Sum of lines 36, 37, 38, and 40.
84 FFA, 1995-2004, December 6, 2012

L.204 Checkable Deposits and Currency

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total liabilities 1211.4 1200.4 1209.2 1220.3 1332.3 1218.8 1360.8 1353.0 1437.4 1522.8 1

 2 Monetary authority 391.2 414.4 444.3 483.3 591.5 556.4 603.8 645.7 683.0 720.8 2

 3 Federal government cash and deposits 6.2 8.0 5.7 6.2 28.5 5.6 7.1 4.8 6.0 6.2 3

 4 Due to government-sponsored enterprises 0.8 0.8 0.8 1.5 1.1 1.2 0.7 1.1 0.6 1.1 4

 5 Deposits due to foreign 0.4 0.2 0.5 0.2 0.1 0.2 0.1 0.1 0.2 0.1 5

 6 Currency outside banks 383.7 405.5 437.3 475.4 561.8 549.3 596.0 639.7 676.2 713.3 6

 7 U.S.-chartered depository institutions 774.2 738.6 712.2 676.9 677.7 594.0 681.7 628.0 666.4 705.7 7

 8 Federal government deposits 19.0 28.7 27.8 13.2 49.6 16.4 47.5 31.1 30.2 26.9 8

 9 Deposits due to foreign 18.1 21.6 26.0 23.2 22.7 25.1 22.6 22.3 1.5 11.2 9

10 Private domestic deposits 737.1 688.3 658.4 640.5 605.5 552.5 611.6 574.6 634.8 667.5 10

11 Foreign banking offices in U.S. 8.7 8.0 8.8 8.6 9.1 8.7 9.1 8.4 9.5 8.7 11

12 Deposits due to foreign 6.0 5.3 5.7 5.4 6.0 5.6 3.2 2.9 2.5 2.0 12

13 Private domestic deposits 2.7 2.7 3.1 3.2 3.2 3.1 5.8 5.6 7.0 6.7 13

14 Banks in U.S.-affiliated areas 6.4 6.9 7.3 8.5 8.5 8.4 11.5 10.4 11.9 13.5 14

15 Credit unions 30.9 32.5 36.6 43.0 45.4 51.3 54.7 60.5 66.5 74.1 15

16 Total assets 1211.4 1200.4 1209.2 1220.3 1332.3 1218.8 1360.8 1353.0 1437.4 1522.8 16

17 Household sector 586.5 544.8 503.8 528.6 508.9 405.1 480.0 464.1 458.2 400.0 17

18 Nonfinancial business 326.5 328.0 339.0 329.2 363.9 407.3 354.3 344.7 394.8 504.7 18

19 Corporate 206.7 189.0 177.7 161.8 191.3 226.4 172.5 160.2 204.2 207.2 19

20 Noncorporate 119.8 139.0 161.3 167.5 172.6 181.0 181.8 184.5 190.6 297.5 20

21 State and local governments 38.7 33.2 37.5 33.6 37.6 37.7 41.7 46.8 53.8 47.0 21

22 Federal government 22.2 38.3 41.6 23.2 87.9 24.3 66.9 47.5 54.1 21.9 22

23 Rest of the world 158.5 175.2 202.7 213.2 237.5 236.3 255.1 273.4 262.9 285.3 23

24 Checkable deposits 24.5 27.1 32.2 28.8 28.7 30.9 25.9 25.3 4.2 13.3 24

25 Currency 133.9 148.1 170.5 184.4 208.8 205.4 229.2 248.1 258.7 272.0 25

26 Financial sectors 47.2 57.8 71.8 78.5 89.4 93.7 159.0 172.5 216.0 247.0 26

27 Property-casualty insurance companies 4.9 3.9 4.2 4.0 4.3 3.7 13.1 25.9 34.6 25.9 27

28 Life insurance companies 5.2 4.3 8.1 5.4 5.5 5.0 36.8 35.3 47.3 53.3 28

29 Private pension funds 4.9 5.6 7.0 6.1 7.4 10.8 9.9 10.2 10.4 10.5 29

30 State and local govt. retirement funds 4.2 7.5 5.3 10.0 9.2 9.9 11.4 12.9 13.7 16.3 30

31 Money market mutual funds -3.5 -1.1 1.5 -1.0 -3.3 1.5 5.4 -1.4 -2.1 0.6 31

32 Government-sponsored enterprises 1.5 0.8 2.1 5.0 12.1 4.4 6.7 14.8 28.8 39.1 32

33 Finance companies 16.3 19.0 18.6 19.6 21.2 23.7 23.0 25.2 27.1 26.3 33

34 REITs 0.0 2.2 3.3 4.1 4.4 4.4 5.5 5.4 9.2 12.2 34

35 Brokers and dealers 13.7 15.7 21.7 25.4 28.7 30.3 47.1 44.2 47.2 62.9 35

36 Mail float 31.9 23.1 12.7 13.9 7.1 14.4 3.9 3.8 -2.4 16.9 36
FFA, 1995-2004, December 6, 2012 85

L.205 Time and Savings Deposits 

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total liabilities 2775.4 3012.0 3264.0 3545.1 3760.1 4107.3 4490.4 4865.7 5228.9 5788.8 1

 2 Small time and savings deposits 2298.5 2421.1 2550.6 2739.9 2823.7 3054.7 3369.3 3694.7 4002.1 4283.7 2

 3 U.S.-chartered depository institutions 2040.8 2150.8 2262.7 2431.7 2504.3 2721.2 2978.2 3272.7 3549.5 3814.8 3

 4 Foreign banking offices in U.S. 8.5 8.7 13.1 9.4 7.5 7.2 11.6 9.4 10.2 9.5 4

 5 Banks in U.S.-affiliated areas 10.2 10.4 10.4 11.4 12.2 13.6 18.1 16.2 17.5 19.0 5

 6 Credit unions 238.9 251.2 264.4 287.5 299.8 312.7 361.3 396.4 424.9 440.4 6

 7 Large time deposits (1) 476.9 590.9 713.4 805.3 936.4 1052.6 1121.0 1171.0 1226.8 1505.1 7

 8 U.S.-chartered depository institutions 336.6 392.5 467.4 517.8 587.9 695.7 697.3 765.6 800.8 995.7 8

 9 Foreign banking offices in U.S. 121.0 176.6 221.3 257.6 314.8 318.2 371.5 346.4 354.9 430.3 9

10 Banks in U.S.-affiliated areas 10.2 10.4 10.4 11.4 12.2 13.6 18.1 16.2 17.5 19.0 10

11 Credit unions 9.0 11.4 14.4 18.5 21.6 25.1 34.1 42.8 53.6 60.0 11

12 Total assets 2775.4 3012.0 3264.0 3545.1 3760.1 4107.3 4490.4 4865.7 5228.9 5788.8 12

13 Household sector 2317.2 2457.9 2594.9 2696.9 2792.3 3049.3 3331.1 3642.6 3965.9 4454.6 13

14 Nonfinancial business 171.1 204.7 250.1 319.0 416.4 519.9 535.8 560.5 676.6 701.1 14

15 Corporate 99.7 129.7 164.4 192.6 236.9 272.3 281.1 291.3 362.8 400.5 15

16 Noncorporate 71.5 75.0 85.7 126.5 179.5 247.6 254.7 269.2 313.8 300.6 16

17 State and local governments 62.0 72.6 78.4 93.2 107.2 117.8 129.8 138.7 159.0 170.6 17

18 Federal government 0.9 2.4 3.4 4.7 5.4 6.3 10.5 27.6 2.4 2.4 18

19 Rest of the world 40.0 50.9 63.9 115.9 118.8 101.5 102.1 143.3 115.0 149.2 19

20 Financial sectors 184.2 223.6 273.3 315.4 320.0 312.4 380.9 353.1 309.9 311.0 20

21 Private pension funds 110.2 119.1 130.1 159.9 120.6 97.7 61.3 57.5 60.7 55.9 21

22 State and local govt. retirement funds 4.5 2.3 2.4 2.0 1.7 1.6 1.8 1.7 0.8 1.4 22

23 Money market mutual funds 52.3 82.7 111.3 123.9 155.4 154.8 244.0 220.2 166.8 167.2 23

24 Government-sponsored enterprises 0.0 0.0 6.4 4.7 10.0 22.2 30.3 25.3 16.7 23.3 24

25 Finance companies 16.3 19.0 22.7 24.0 31.7 35.6 42.8 46.8 63.2 61.3 25

26 Holding companies 0.8 0.5 0.3 0.9 0.6 0.6 0.7 1.7 1.6 1.8 26

(1) Large time deposits are those issued in amounts of $100,000 or more.

L.206 Money Market Mutual Fund Shares

Billions of dollars

 1 Total assets 741.3 886.7 1042.5 1327.9 1579.6 1812.1 2240.6 2223.9 2016.4 1879.8 1

 2 Household sector 472.4 500.9 571.3 671.3 774.2 937.3 1101.1 1071.7 960.2 904.1 2

 3 Nonfinancial corporate business 60.0 94.6 118.8 161.7 196.8 213.9 314.1 319.7 289.3 299.6 3

 4 Nonfinancial noncorporate business 17.0 19.2 22.9 32.6 40.7 49.4 59.0 61.3 63.6 66.5 4

 5 State and local governments 10.7 12.0 15.6 46.7 51.2 53.9 57.1 58.7 64.5 78.6 5

 6 Rest of the world 5.1 5.8 6.6 7.3 8.1 11.2 15.1 16.3 18.8 22.9 6

 7 Property-casualty insurance companies 13.1 12.4 12.3 14.9 9.9 13.4 10.3 15.3 14.3 13.4 7

 8 Life insurance companies 9.1 9.2 9.3 9.5 9.6 9.8 9.9 12.3 12.6 17.2 8

 9 Private pension funds 37.9 49.1 62.5 64.8 76.9 81.1 75.1 84.5 84.3 84.9 9

10 State and local govt. retirement funds 5.9 7.6 9.6 9.9 11.8 13.2 15.4 15.5 13.4 11.6 10

11 Funding corporations 110.1 175.7 213.4 309.1 400.5 429.0 583.5 568.6 495.3 381.1 11
86 FFA, 1995-2004, December 6, 2012

L.207 Federal Funds and Security Repurchase Agreements

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total liabilities 609.2 654.6 754.9 794.6 925.3 1000.9 1009.2 1117.9 1341.8 1422.1 1

 2 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21.1 25.7 30.8 2

 3 Private depository institutions (net) 415.6 459.2 525.1 565.1 657.9 680.5 626.7 695.0 759.2 776.6 3

 4 U.S.-chartered depository institutions (net) 378.8 405.5 447.9 471.6 584.6 549.6 505.3 533.4 603.1 623.2 4

 5 Foreign banking offices in U.S. (net) 43.2 55.1 80.7 100.4 82.5 134.8 123.9 163.4 157.7 157.5 5

 6 Credit unions (net) -6.4 -1.4 -3.5 -6.8 -9.3 -4.0 -2.5 -1.7 -1.6 -4.1 6

 7 Property-casualty insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 1.7 0.9 2.1 1.2 7

 8 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 1.3 13.9 14.7 13.5 8

 9 REITs 10.9 13.7 24.9 15.1 14.9 12.4 21.6 36.2 41.6 70.3 9

10 Brokers and dealers (net) 182.4 180.9 203.5 208.2 245.2 302.2 353.2 344.2 490.4 526.9 10

11 Holding companies 0.3 0.8 1.3 6.1 7.4 5.8 4.9 6.6 8.1 2.9 11

12 Total assets 498.6 546.4 604.0 621.9 769.4 718.0 661.3 698.2 761.4 840.9 12

13 Nonfinancial corporate business 2.4 3.9 4.6 4.2 5.8 4.2 4.0 6.2 6.0 6.4 13

14 State and local governments 115.7 147.8 151.4 155.6 153.1 142.8 131.9 115.6 118.7 127.0 14

15 Rest of the world (net) 67.6 70.9 90.8 72.0 79.9 91.3 13.1 28.5 115.4 185.7 15

16 Monetary authority 13.9 21.6 23.8 30.4 140.6 43.4 50.3 39.5 43.8 33.0 16

17 Property-casualty insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 1.7 2.7 3.2 2.0 17

18 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 1.3 4.7 2.2 3.6 18

19 Private pension funds 22.4 27.3 28.5 29.7 31.6 26.5 17.7 18.3 20.3 20.6 19

20 State and local govt. retirement funds 31.5 28.2 28.6 37.5 40.4 39.8 34.0 27.1 23.4 20.2 20

21 Money market mutual funds 87.8 103.8 126.6 138.8 140.5 182.8 226.2 273.4 252.6 234.0 21

22 Mutual funds 50.2 47.5 57.8 70.9 80.8 99.6 70.7 81.6 94.5 112.6 22

23 Government-sponsored enterprises (net) 106.3 94.5 90.4 77.0 89.7 80.6 104.4 95.3 75.3 93.6 23

24 Holding companies 0.8 0.9 1.5 5.8 6.9 7.0 6.1 5.5 6.0 2.1 24

25 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

26 Discrepancy--unallocated assets 110.5 108.2 150.9 172.7 155.9 282.8 347.9 419.7 580.4 581.2 26
FFA, 1995-2004, December 6, 2012 87

L.208 Open Market Paper

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total outstanding, all types 700.4 803.0 979.4 1172.6 1402.4 1614.0 1474.0 1374.9 1292.9 1399.1 1

 2 Commercial paper 677.7 779.4 958.5 1161.0 1393.8 1606.1 1469.2 1370.3 1288.6 1395.0 2

 3 Nonfinancial corporate business 157.4 156.4 168.6 193.0 230.3 278.4 177.7 119.8 82.5 97.8 3

 4 Foreign issues in U.S. 56.2 67.5 65.1 72.9 89.2 120.9 198.5 257.2 276.1 345.3 4

 5 Nonfinancial 20.6 18.7 20.0 18.5 26.7 37.6 19.5 19.3 15.5 13.3 5

 6 Financial 35.6 48.8 45.0 54.4 62.5 83.3 178.9 237.9 260.6 332.0 6

 7 Financial business 464.2 555.5 724.8 895.2 1074.3 1206.7 1093.0 993.3 930.0 951.9 7

 8 U.S.-chartered depository institutions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 ABS issuers 101.2 146.7 256.1 381.8 520.8 645.8 607.8 566.1 530.0 526.1 9

10 Finance companies 168.6 178.0 202.6 233.3 230.4 240.1 162.4 147.8 145.1 175.3 10

11 REITs 0.0 0.0 0.0 0.2 0.0 0.0 0.0 0.0 0.0 0.0 11

12 Holding companies 30.1 32.0 37.6 45.4 54.5 55.7 50.6 48.3 42.3 53.1 12

13 Funding corporations 164.2 198.8 228.5 234.4 268.6 265.1 272.2 231.1 212.5 197.4 13

14 Bankers’ acceptances (1) 22.6 23.6 20.9 11.5 8.6 7.9 4.8 4.6 4.4 4.1 14

15 U.S.-chartered depository institutions 12.3 14.0 13.7 9.1 6.6 6.0 3.7 3.9 3.8 3.4 15

16 Foreign banking offices in U.S. 10.4 9.6 7.2 2.4 2.0 2.0 1.1 0.7 0.6 0.7 16

17 Holdings, by sector 700.4 803.0 979.4 1172.6 1402.4 1614.0 1474.0 1374.9 1292.9 1399.1 17

18 Household sector 71.7 75.8 77.1 80.2 84.9 97.3 88.2 82.2 77.3 83.7 18

19 Nonfinancial corporate business 20.1 31.5 36.1 39.4 47.6 57.8 60.2 64.8 75.7 95.0 19

20 State and local governments 39.4 59.7 74.0 86.8 104.3 119.5 136.9 151.3 154.2 162.1 20

21 Rest of the world 43.4 57.9 77.8 111.4 105.0 114.3 108.4 126.6 192.8 229.8 21

22 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

23 U.S.-chartered depository institutions (1) 4.1 4.5 2.3 0.8 0.7 0.9 0.0 0.0 0.0 0.0 23

24 Foreign banking offices in U.S. (1) 1.7 2.3 0.4 0.3 0.6 0.6 0.0 0.0 0.0 0.0 24

25 Credit unions 0.6 0.3 0.2 0.4 1.9 1.2 2.4 1.5 0.7 0.8 25

26 Property-casualty insurance companies 18.8 17.7 17.6 21.3 14.1 19.1 12.7 15.7 13.7 12.3 26

27 Life insurance companies 45.5 48.4 65.9 73.4 75.8 71.2 51.7 55.7 37.9 27.4 27

28 Private pension funds 24.8 30.8 32.3 35.5 41.4 35.3 27.0 30.7 27.5 28.5 28

29 State and local govt. retirement funds 31.5 28.2 28.6 37.5 40.4 47.3 51.3 48.0 41.6 35.2 29

30 Money market mutual funds 235.5 273.9 336.0 415.1 525.3 620.4 623.7 585.2 459.9 405.8 30

31 Mutual funds 50.2 47.2 57.8 70.9 80.8 99.6 70.7 63.1 76.2 94.2 31

32 Government-sponsored enterprises 25.5 35.1 27.6 56.2 23.9 31.1 33.8 10.4 6.7 5.8 32

33 Brokers and dealers 22.1 23.7 24.3 28.0 26.0 39.2 48.2 43.5 49.4 48.0 33

34 Funding corporations 65.5 66.0 121.4 115.2 229.7 259.2 158.6 96.3 79.4 170.5 34

(1) Excludes banks’ holdings of own acceptances.
88 FFA, 1995-2004, December 6, 2012

L.209 Treasury Securities

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total liabilities 3608.5 3755.1 3778.3 3723.7 3652.7 3357.8 3352.7 3609.8 4008.2 4370.7 1

 2 Savings bonds 185.0 187.0 186.5 186.6 186.4 184.8 190.3 194.9 203.8 204.4 2

 3 Treasury bills 760.7 777.4 715.4 691.0 737.1 646.9 811.2 888.7 928.8 1001.2 3

 4 Other Treasury securities 2662.8 2790.7 2876.4 2846.1 2729.2 2526.2 2351.1 2526.1 2875.6 3165.1 4

 5 Total assets 3608.5 3755.1 3778.3 3723.7 3652.7 3357.8 3352.7 3609.8 4008.2 4370.7 5

 6 Household sector 828.0 888.9 797.8 733.1 810.2 579.1 434.0 263.5 407.1 470.5 6

 7 Savings bonds 185.0 187.0 186.5 186.6 186.4 184.8 190.3 194.9 203.8 204.4 7

 8 Bills and other Treasury securities 643.0 701.9 611.4 546.4 623.7 394.3 243.7 68.7 203.3 266.1 8

 9 Nonfinancial corporate business 57.1 47.1 26.8 23.6 19.4 18.1 16.9 31.4 33.7 34.0 9

10 Nonfinancial noncorporate business 23.6 28.6 32.2 38.0 37.2 40.2 42.8 42.8 44.9 50.2 10

11 State and local governments 289.8 257.0 239.3 280.8 304.5 310.0 328.4 354.7 364.9 411.6 11

12 Rest of the world 816.9 1040.3 1153.2 1166.2 1058.4 1021.4 1095.2 1285.5 1513.5 1813.6 12

13 Treasury bills 197.4 236.9 193.2 183.5 185.7 177.8 186.1 236.8 258.8 318.8 13

14 Other Treasury securities 619.6 803.5 960.0 982.8 872.7 843.6 909.1 1048.7 1254.7 1494.8 14

15 Monetary authority 378.2 390.9 430.7 452.1 478.0 511.7 551.7 629.4 666.7 717.8 15

16 Treasury bills 183.1 190.6 197.1 194.8 176.5 178.7 182.1 226.7 244.8 263.0 16

17 Other Treasury securities 195.1 200.3 233.6 257.4 301.4 333.0 369.6 402.7 421.8 454.8 17

18 U.S.-chartered depository institutions 226.0 190.3 181.4 135.0 133.0 96.6 67.8 95.6 105.7 82.6 18

19 Foreign banking offices in U.S. 62.3 80.7 95.1 84.8 94.5 94.0 103.8 116.7 33.4 27.7 19

20 Banks in U.S.-affiliated areas 5.4 4.1 4.2 3.6 2.8 1.8 1.2 1.5 2.5 3.8 20

21 Credit unions 18.3 17.4 15.6 13.1 9.6 8.2 7.4 7.5 8.8 8.9 21

22 Property-casualty insurance companies 139.1 126.2 96.4 76.8 64.9 57.8 57.5 72.0 86.2 106.6 22

23 Life insurance companies 108.1 93.2 85.5 71.3 62.8 58.1 58.0 89.3 80.2 81.9 23

24 Private pension funds 120.8 116.0 118.0 104.8 121.5 111.6 105.2 103.6 116.9 113.0 24

25 State and local govt. retirement funds 208.2 212.8 219.0 212.6 198.8 179.1 155.1 158.9 148.6 151.0 25

26 Federal government retirement funds 22.2 24.4 26.1 28.5 31.4 33.4 40.6 50.4 55.5 60.3 26

27 Money market mutual funds 70.0 90.2 86.2 107.9 103.8 91.6 137.5 142.2 132.1 98.2 27

28 Mutual funds 143.8 125.8 136.4 141.0 117.3 127.4 117.6 134.8 144.2 149.0 28

29 Closed-end funds 11.1 11.2 9.8 8.8 7.6 6.7 6.7 3.9 4.6 6.8 29

30 Exchange-traded funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2.0 2.1 4.9 30

31 Government-sponsored enterprises 58.0 18.8 25.9 25.2 30.9 13.3 13.6 25.7 13.5 12.9 31

32 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.1 0.5 0.9 2.8 8.0 32

33 Brokers and dealers 18.3 -12.8 -5.3 15.8 -42.6 -3.3 9.8 -3.9 37.8 -44.6 33

34 Holding companies 3.4 4.0 4.0 0.9 8.8 0.8 1.2 1.3 2.7 2.0 34

 Memo:

35 Federal government debt (1) 3636.7 3781.7 3804.8 3752.2 3681.0 3385.1 3379.5 3637.0 4033.1 4395.0 35

(1) Total Treasury securities (line 1) plus budget agency securities (table L.210, line 2) and federal mortgage debt (table L.217, line 11).
FFA, 1995-2004, December 6, 2012 89

L.210 Agency- and GSE-Backed Securities (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total liabilities 2406.0 2635.8 2849.3 3322.9 3916.0 4347.0 4989.1 5536.3 5969.4 6084.5 1

 2 Budget agencies 28.2 26.6 26.5 28.5 28.3 27.3 26.8 27.3 24.9 24.3 2

 3 Government-sponsored enterprises 807.0 897.4 996.5 1275.4 1594.2 1826.4 2130.6 2350.4 2601.3 2676.3 3

 4 Agency- and GSE-backed mortgage pools 1570.7 1711.7 1826.3 2019.0 2293.5 2493.2 2831.8 3158.6 3343.3 3384.0 4

 5 Total assets 2406.0 2635.8 2849.3 3322.9 3916.0 4347.0 4989.1 5536.3 5969.4 6084.5 5

 6 Household sector 216.4 332.8 389.7 441.7 541.8 594.0 407.3 247.4 388.8 390.6 6

 7 Nonfinancial corporate business 23.4 28.5 8.0 10.6 12.4 15.4 17.5 16.9 11.2 11.3 7

 8 State and local governments 151.5 116.2 115.4 154.1 198.3 239.7 287.0 328.8 345.5 387.1 8

 9 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

10 Rest of the world 123.1 134.4 157.3 185.6 232.3 348.2 504.1 630.6 655.3 875.2 10

11 Monetary authority 2.6 2.2 0.7 0.3 0.2 0.1 0.0 0.0 0.0 0.0 11

12 U.S.-chartered depository institutions 586.0 592.8 652.4 722.6 755.4 766.9 861.7 997.5 1105.2 1132.5 12

13 Foreign banking offices in U.S. 37.3 49.7 62.2 67.4 72.4 72.7 50.7 61.6 53.3 51.8 13

14 Banks in U.S.-affiliated areas 4.0 4.3 6.3 10.2 13.5 17.8 20.3 24.2 28.9 33.6 14

15 Credit unions 45.7 50.7 51.0 58.4 61.3 60.9 80.6 79.1 94.3 93.1 15

16 Property-casualty insurance companies 48.2 51.0 70.8 69.7 75.5 84.1 94.2 113.2 115.4 112.1 16

17 Life insurance companies 242.9 244.1 226.7 217.0 224.4 235.4 253.5 330.9 348.9 357.1 17

18 Private pension funds 213.1 201.8 207.9 190.7 230.3 197.4 202.5 182.9 223.5 235.3 18

19 State and local govt. retirement funds 63.1 68.6 87.0 106.1 129.0 178.9 180.7 192.6 235.1 258.8 19

20 Federal government retirement funds 0.6 0.7 0.7 1.0 0.9 1.0 2.6 4.8 5.7 5.8 20

21 Money market mutual funds 90.8 101.8 96.3 172.4 191.1 182.9 324.4 333.1 328.6 267.5 21

22 Mutual funds 171.3 204.4 213.3 234.9 271.1 283.7 368.3 422.4 447.5 462.7 22

23 Government-sponsored enterprises 190.8 256.6 324.2 482.7 655.6 810.9 1017.8 1149.5 1088.9 886.5 23

24 ABS issuers 127.4 122.8 102.1 126.8 167.8 176.4 211.4 286.5 369.1 358.0 24

25 REITs 9.0 12.2 21.2 13.1 11.4 12.0 20.3 31.8 28.9 44.7 25

26 Brokers and dealers 54.0 55.2 50.4 50.9 66.0 63.7 77.8 91.8 83.7 107.3 26

27 Holding companies 4.7 4.9 5.5 6.6 5.4 4.8 6.2 10.7 11.6 13.5 27

(1) Agency- and GSE-backed securities include: issues of federal budget agencies (line 2) such as those for the TVA; issues of government sponsored enterprises (line 3) such as Fannie Mae and FHLB;

 and agency- and GSE-backed mortgage pool securities issued by GNMA, Fannie Mac, Freddie Mac, and the Farmers Home Administration (line 4). Only the budget agency issues are considered

 officially to be part of the total debt of the federal government, which is shown in table L.209, line 35.
90 FFA, 1995-2004, December 6, 2012

L.211 Municipal Securities and Loans

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total liabilities 1268.2 1261.6 1318.5 1402.7 1457.1 1480.7 1603.4 1762.8 1900.4 2821.2 1

 2 State and local governments 1037.0 1021.3 1067.0 1133.6 1172.5 1189.0 1294.4 1438.3 1558.8 2438.2 2

 3 Short-term (1) 34.4 40.7 49.0 42.7 45.3 46.6 70.5 95.7 106.1 44.2 3

 4 Long-term 1002.6 980.7 1018.0 1090.9 1127.2 1142.4 1223.9 1342.6 1452.7 2393.9 4

 5 Nonprofit organizations (2) 96.4 102.4 109.6 121.3 131.7 137.5 151.3 163.9 177.7 197.6 5

 6 Nonfinancial corporate business 134.8 137.9 142.0 147.8 152.8 154.2 157.7 160.6 163.9 185.4 6

 (industrial revenue bonds)

 7 Total assets 1268.2 1261.6 1318.5 1402.7 1457.1 1480.7 1603.4 1762.8 1900.4 2821.2 7

 8 Household sector 533.4 493.0 497.6 498.7 528.1 531.2 580.7 678.3 703.4 1531.4 8

 9 Nonfinancial corporate business 36.8 31.0 27.4 25.7 25.0 31.9 29.3 32.1 35.4 31.8 9

10 Nonfinancial noncorporate business 2.2 2.6 3.2 2.8 2.7 2.4 3.5 3.4 2.7 4.3 10

11 State and local governments 5.1 4.6 3.9 3.2 3.5 3.7 4.0 4.1 4.6 5.9 11

12 Rest of the world 4.0 4.9 5.9 6.8 7.8 8.0 8.0 11.5 19.5 26.0 12

13 U.S.-chartered depository institutions 94.7 95.8 98.3 106.9 113.2 116.6 124.5 127.0 138.8 147.8 13

14 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

15 Banks in U.S.-affiliated areas 0.7 0.5 0.5 0.5 0.6 0.7 0.5 0.5 0.6 0.3 15

16 Property-casualty insurance companies 161.0 175.4 191.6 208.1 199.0 184.1 173.8 183.0 224.2 267.8 16

17 Life insurance companies 11.9 13.4 16.7 18.4 20.1 19.1 18.7 19.9 26.1 30.1 17

18 State and local govt. retirement funds 1.8 0.6 1.5 3.3 3.0 1.7 1.7 0.9 4.4 1.8 18

19 Money market mutual funds 127.7 144.5 167.0 192.8 210.4 242.5 276.7 278.5 292.1 313.8 19

20 Mutual funds 210.2 213.3 219.8 242.6 239.4 230.4 253.0 277.3 290.2 294.3 20

21 Closed-end funds 58.2 59.1 59.4 60.7 69.7 67.7 74.7 86.0 89.3 89.1 21

22 Exchange-traded funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

23 Government-sponsored enterprises 7.8 12.1 12.7 19.2 22.7 29.2 35.4 39.4 44.4 44.6 23

24 Brokers and dealers 12.7 10.8 13.2 13.1 11.9 11.3 19.0 21.0 24.9 32.0 24

(1) Debt with original maturity of 13 months or less.

(2) Liability of the households and nonprofit organizations sector (tables F.100 and L.100).
FFA, 1995-2004, December 6, 2012 91

L.212 Corporate and Foreign Bonds

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total liabilities 3079.2 3401.1 3733.3 4248.7 4561.8 4931.9 5686.1 6367.4 7162.3 8049.4 1

 2 Nonfinancial corporate business 1507.4 1619.3 1779.6 1997.2 2207.9 2375.8 2721.9 2858.7 3014.2 3101.9 2

 3 Rest of the world (1) 413.3 481.4 543.4 594.4 548.2 572.7 557.1 702.7 868.9 985.0 3

 4 Financial sectors 1158.5 1300.4 1410.3 1657.1 1805.7 1983.4 2407.1 2805.9 3279.2 3962.6 4

 5 U.S.-chartered depository institutions 46.3 53.6 64.5 74.7 78.5 92.6 98.3 97.5 104.0 116.9 5

 6 ABS issuers (net) (3) 565.1 634.3 662.2 794.6 809.5 857.7 1150.8 1421.0 1692.9 2136.4 6

 7 Finance companies 300.0 336.8 341.5 365.6 430.3 503.3 571.3 635.3 743.2 817.4 7

 8 REITs 15.5 16.8 31.6 53.4 61.7 64.6 69.2 83.3 107.1 183.8 8

 9 Brokers and dealers 29.3 27.3 35.3 42.5 25.3 40.9 42.3 40.6 47.0 62.2 9

10 Holding companies 117.9 118.0 131.0 148.1 164.8 186.8 215.5 238.1 279.5 328.2 10

11 Funding corporations 84.4 113.6 144.2 178.2 235.5 237.5 259.7 290.1 305.5 317.7 11

12 Total assets 3079.2 3401.1 3733.3 4248.7 4561.8 4931.9 5686.1 6367.4 7162.3 8049.4 12

13 Household sector 616.7 648.7 640.2 706.5 603.9 656.7 838.6 1205.1 1141.7 1262.6 13

14 State and local governments 39.0 49.7 51.0 62.4 74.0 83.8 95.1 104.2 109.6 122.9 14

15 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

16 Rest of the world (2) 355.3 432.1 498.2 589.7 673.1 841.8 1018.7 1123.0 1330.0 1558.9 16

17 U.S.-chartered depository institutions 147.5 132.7 142.0 202.2 263.3 310.9 349.0 344.2 377.7 423.7 17

18 Foreign banking offices in U.S. 33.5 36.6 41.3 46.9 42.4 50.7 81.3 81.6 159.8 182.2 18

19 Banks in U.S.-affiliated areas 0.4 0.3 0.4 1.0 0.5 0.8 1.4 1.1 1.4 1.3 19

20 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22.1 24.3 25.0 20

21 Property-casualty insurance companies 123.3 141.6 159.5 171.1 181.1 187.5 196.4 198.9 218.9 245.3 21

22 Life insurance companies 867.0 946.2 1041.7 1124.4 1166.9 1214.8 1334.3 1440.0 1610.5 1756.3 22

23 Private pension funds 241.1 244.5 278.5 298.9 341.9 265.7 242.5 254.1 275.3 267.8 23

24 State and local govt. retirement funds 189.2 211.4 244.5 279.6 310.0 314.2 279.7 217.3 207.4 213.5 24

25 Federal government retirement funds 0.5 0.5 0.6 0.7 0.7 0.7 1.6 2.9 3.7 4.0 25

26 Money market mutual funds 21.5 23.9 36.4 82.2 124.8 180.2 222.5 228.1 258.7 261.0 26

27 Mutual funds 185.5 218.5 259.4 322.0 348.2 337.7 403.1 453.4 532.0 596.8 27

28 Closed-end funds 25.2 27.1 27.1 31.8 33.5 30.9 27.1 27.1 58.8 67.6 28

29 Exchange-traded funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.8 2.4 3.3 29

30 Government-sponsored enterprises 29.9 38.1 44.1 68.7 97.5 131.1 155.7 189.3 222.8 414.8 30

31 Finance companies 95.3 110.8 120.5 127.6 154.6 173.4 192.4 210.5 263.8 256.0 31

32 REITs 2.9 4.3 6.5 6.1 9.2 9.4 9.8 10.4 18.9 36.0 32

33 Brokers and dealers 73.8 86.9 92.6 74.7 86.6 103.8 151.0 183.1 219.3 238.0 33

34 Holding companies 7.7 10.5 15.5 14.8 15.9 13.2 15.3 12.9 14.2 15.5 34

35 Funding corporations 23.8 36.5 33.1 37.6 33.8 24.9 70.8 56.4 111.3 96.8 35

(1) Holdings of foreign issues by U.S. residents.

(2) Holdings of U.S. issues by foreign residents.

(3) Liabilities net of assets.
92 FFA, 1995-2004, December 6, 2012

L.213 Corporate Equities (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Issues at market value 8481.3 9748.1 12621.8 15354.0 19401.0 17575.0 15628.6 12438.3 16638.5 18940.1 1

 2 Nonfinancial corporate business 6406.8 6804.3 8674.5 10962.3 14476.8 12444.5 10868.6 8212.3 10845.2 12088.6 2

 3 Rest of the world (2) 790.6 1006.1 1207.8 1475.0 2003.7 1852.8 1612.7 1374.0 2079.4 2560.4 3

 4 Financial corporations 1284.0 1937.7 2739.5 2916.8 2920.4 3277.7 3147.3 2852.0 3713.9 4291.1 4

 5 Holdings at market value 8481.3 9748.1 12621.8 15354.0 19401.0 17575.0 15628.6 12438.3 16638.5 18940.1 5

 6 Household sector 4434.2 4712.2 6144.1 7506.8 9763.0 8140.2 6825.9 5163.5 6788.0 7479.1 6

 7 State and local governments 26.4 46.9 78.4 98.5 98.3 93.2 88.0 79.3 81.6 87.8 7

 8 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Rest of the world (3) 484.6 584.3 837.3 1107.9 1434.0 1483.0 1441.0 1221.6 1674.6 1904.6 9

10 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

11 U.S.-chartered depository institutions 19.3 24.5 25.9 35.7 42.0 43.3 40.3 30.6 49.0 57.5 11

12 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

13 Property-casualty insurance companies 133.5 147.5 184.3 197.9 205.2 191.4 171.0 149.4 178.4 196.6 13

14 Life insurance companies 309.6 406.9 539.7 683.2 909.0 891.9 811.3 708.9 919.3 1053.9 14

15 Private pension funds 1256.8 1403.1 1603.7 1869.2 1966.2 1970.6 1908.6 1588.6 2096.6 2338.5 15

16 State and local govt. retirement funds 703.5 846.6 1051.3 1188.1 1407.7 1298.7 1260.4 1056.8 1421.0 1600.9 16

17 Federal government retirement funds 11.5 18.8 29.9 43.0 56.9 56.6 49.1 45.7 79.2 97.7 17

18 Mutual funds 1024.9 1470.0 2018.7 2506.2 3376.7 3226.9 2834.0 2187.4 3051.3 3693.6 18

19 Closed-end funds 41.9 47.0 49.6 47.6 41.2 36.5 31.0 33.6 52.7 81.8 19

20 Exchange-traded funds 1.1 2.4 6.7 15.6 33.9 65.6 83.0 98.2 146.3 219.0 20

21 Brokers and dealers 34.2 37.9 51.9 54.4 66.9 77.2 85.1 74.9 100.5 129.1 21

22 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 Memo:

23 Market value of domestic corporations (4) 7460.8 8482.6 11095.5 13527.9 17008.2 15308.1 13605.6 10677.7 14032.1 15695.6 23

(1) Excludes mutual fund shares shown on table L.214.

(2) Holdings of foreign issues by U.S. residents; includes American Depositary Receipts (ADRs).

(3) Holdings of U.S. issues by foreign residents.

(4) Sum of lines 2 and 4 less the sum of lines 11, 12, 13, 19, 20, 21, and 22; line 1 excludes intercorporate holdings of nonfinancial corporations.

L.214 Mutual Fund Shares (1)

Billions of dollars

 1 Shares at market value 1852.8 2342.4 2989.4 3613.1 4538.5 4433.1 4135.4 3638.4 4654.2 5436.3 1

 2 Holdings at market value 1852.8 2342.4 2989.4 3613.1 4538.5 4433.1 4135.4 3638.4 4654.2 5436.3 2

 3 Household sector 1253.0 1561.9 1949.3 2352.2 2894.6 2708.0 2618.2 2223.3 2915.4 3430.2 3

 4 Nonfinancial corporate business 45.7 62.6 74.5 97.6 127.3 118.0 109.0 90.9 114.9 125.6 4

 5 State and local governments 35.0 41.0 33.6 34.1 33.4 30.8 28.1 24.3 25.8 29.7 5

 6 Rest of the world 59.9 82.3 109.0 135.1 169.5 149.0 116.6 98.0 146.1 195.8 6

 7 U.S.-chartered depository institutions 2.3 2.6 8.1 9.1 12.4 15.0 21.3 19.6 17.1 18.1 7

 8 Credit unions 2.8 2.6 2.4 3.6 2.5 2.2 3.7 3.5 4.1 3.1 8

 9 Property-casualty insurance companies 0.7 1.0 1.7 2.2 2.7 2.9 3.0 3.0 4.3 5.2 9

10 Life insurance companies 33.5 42.5 57.2 73.2 98.7 97.0 88.3 76.6 91.7 114.4 10

11 Private pension funds 357.0 472.7 660.1 790.0 1056.5 1131.6 962.9 931.9 1126.9 1278.2 11

12 State and local govt. retirement funds 62.9 73.2 93.4 115.9 140.9 178.3 184.3 167.4 207.9 235.9 12

(1) Shares of open-end investment companies; excludes shares of money market mutual funds, exchange-traded funds, and funding vehicles for variable annuities.
FFA, 1995-2004, December 6, 2012 93

L.215 Depository Institution Loans Not Elsewhere Classified (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total liabilities 960.9 1041.8 1169.9 1310.2 1404.1 1520.7 1447.9 1367.9 1334.2 1388.7 1

 2 Household sector 52.6 42.5 51.0 45.0 22.4 18.8 2.2 -21.4 -4.4 -24.0 2

 3 Corporate business 628.9 659.8 714.7 796.6 845.4 900.4 796.8 693.4 614.1 618.0 3

 4 Noncorporate business 200.6 229.8 276.6 302.1 351.7 402.1 445.6 469.3 479.7 512.6 4

 5 Rest of the world 34.6 43.7 52.1 58.7 59.2 70.5 63.2 68.6 66.1 69.9 5

 6 Foreign official institutions 2.6 2.9 2.1 2.8 3.0 3.5 4.3 5.1 4.5 5.5 6

 7 Foreign banks 10.9 14.3 13.8 13.1 9.9 13.2 5.9 5.1 8.9 13.4 7

 8 Other foreign 21.1 26.5 36.3 42.8 46.4 53.8 53.1 58.4 52.7 51.0 8

 9 Financial sectors 44.1 66.0 75.6 107.6 125.5 128.8 140.1 158.0 178.9 212.2 9

10 Finance companies 31.8 40.3 40.3 46.3 60.1 63.8 84.3 101.1 106.9 136.9 10

11 REITs 5.0 7.8 17.6 33.6 24.2 19.4 16.4 18.1 17.8 24.9 11

12 Brokers and dealers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

13 Holding companies 7.3 18.0 17.7 27.7 41.1 45.6 39.4 38.7 54.2 50.4 13

14 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

15 Total assets 960.9 1041.8 1169.9 1310.2 1404.1 1520.7 1447.9 1367.9 1334.2 1388.7 15

16 Monetary authority (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

17 U.S.-chartered depository institutions 699.8 759.6 867.3 1008.0 1123.4 1223.2 1163.7 1104.8 1080.3 1120.7 17

18 Foreign banking offices in U.S. 232.5 264.8 284.0 282.3 260.0 274.6 256.1 237.5 225.7 233.2 18

19 Banks in U.S.-affiliated areas 13.1 14.6 15.5 16.3 16.9 18.0 22.5 18.2 18.5 20.3 19

20 Credit unions 15.5 2.9 3.1 3.5 3.9 4.9 5.6 7.5 9.7 14.6 20

(1) Excludes depository institution lending in the form of open market paper, mortgages, consumer credit, and security credit which are shown on other instrument tables.

(2) Loans from Federal Reserve banks to households, rest of the world, broker and dealers, and funding corporations. See loan details on table L.108.
94 FFA, 1995-2004, December 6, 2012

L.216 Other Loans and Advances

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total other loans and advances 888.0 944.7 1038.7 1188.7 1318.0 1446.2 1467.4 1507.1 1541.5 1665.0 1

 2 U.S. government loans 130.0 132.7 138.8 136.5 129.6 126.9 119.1 118.6 116.7 113.7 2

 3 Liab.: Household sector 10.7 20.0 17.6 17.3 17.1 15.9 14.7 13.8 13.1 12.2 3

 4 Nonfinancial corporate business 9.1 8.4 8.8 8.5 8.2 8.3 7.0 8.0 8.8 9.1 4

 5 Nonfinancial noncorporate business 45.1 44.6 49.0 48.1 48.0 46.6 42.4 43.1 43.1 44.1 5

 6 State and local governments 9.7 4.8 10.0 10.1 8.5 8.9 9.0 9.6 9.7 10.0 6

 7 Rest of the world 55.4 54.8 53.3 52.4 47.8 47.2 46.1 44.1 42.0 38.3 7

 8 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Finance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

10 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

11 Foreign loans to U.S. corporate business 122.1 126.0 143.3 142.3 119.5 117.3 115.7 125.8 125.0 131.2 11

12 Liab.: Nonfinancial corporate business 122.1 126.0 143.3 142.3 119.5 117.3 115.7 125.8 125.0 131.2 12

 Customers’ liability on acceptances outstanding

13 Asset: U.S.-chartered depository institutions 12.3 13.9 13.7 9.1 6.6 5.9 3.6 3.9 3.8 3.3 13

14 Foreign banking offices in U.S. 10.1 9.4 6.9 2.2 1.6 1.6 1.0 0.6 0.6 0.7 14

15 Liab.: Nonfinancial corporate business 14.2 13.4 10.8 6.6 4.4 4.3 4.1 4.4 4.2 3.8 15

16 Rest of the world 8.2 9.9 9.7 4.7 3.9 3.1 0.5 0.2 0.2 0.3 16

17 Holding company loans 2.3 2.5 2.4 4.1 2.6 1.6 1.9 2.9 7.9 5.3 17

18 Liab.: Nonfinancial corporate business 2.3 2.5 2.4 4.1 2.6 1.6 1.9 2.9 7.9 5.3 18

19 Rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

20 Policy loans (Household liability) 96.9 101.4 104.6 104.7 100.0 102.8 105.0 106.0 105.2 106.8 20

21 Asset: Federal government 0.9 1.0 1.0 0.9 0.9 0.9 0.9 0.8 0.8 0.7 21

22 Life insurance companies 95.9 100.5 103.7 103.8 99.0 101.9 104.1 105.1 104.5 106.1 22

23 Government-sponsored enterprise loans (1) 166.0 195.3 230.7 324.2 432.3 477.6 505.9 514.7 545.8 619.4 23

24 Liab.: Household sector (SLMA) 0.8 0.9 0.7 0.6 0.7 0.4 0.4 0.4 0.3 0.0 24

25 Nonfinancial corporate business (FCS) 1.3 1.5 1.6 2.0 2.1 2.5 3.1 3.6 4.0 4.5 25

26 Nonfinancial noncorporate business (FCS) 28.8 30.0 30.0 32.9 33.7 36.4 38.7 40.2 39.8 39.0 26

27 U.S.-chartered dep. inst. (FHLB & SLMA) 134.1 160.9 196.1 285.1 389.2 432.4 455.7 458.4 484.6 553.4 27

28 Credit unions (FHLB) 0.4 0.4 0.6 1.1 3.4 3.4 4.9 6.9 9.1 11.4 28

29 Life insurance companies (FHLB) 0.5 1.6 1.8 2.5 3.2 2.5 3.1 5.1 8.0 11.1 29

30 Securitized loans held by ABS issuers 29.6 37.7 62.1 85.9 82.6 89.8 105.6 112.4 111.4 111.4 30

31 Liab.: Nonfinancial corporate business 29.6 37.7 62.1 85.9 82.6 89.8 105.6 112.4 111.4 111.4 31

32 Finance company loans to business 301.6 304.7 304.1 340.9 395.1 456.2 440.2 444.0 441.7 451.5 32

33 Liab.: Nonfinancial corporate business 271.4 274.2 273.7 306.8 355.6 410.6 396.2 399.6 397.6 406.4 33

34 Nonfinancial noncorporate business 30.2 30.5 30.4 34.1 39.5 45.6 44.0 44.4 44.2 45.2 34

35 Loans to nonfinancial corporate business (2) 17.2 21.0 32.2 38.7 48.1 66.4 69.5 78.2 83.4 121.5 35

36 Asset: Household sector 0.1 0.1 0.2 0.2 0.6 1.9 2.6 2.8 3.1 5.9 36

37 Life insurance companies 3.1 3.1 4.2 6.1 6.4 7.4 8.1 9.2 9.8 11.7 37

38 Mutual funds 10.2 11.0 14.4 17.1 19.9 24.3 17.0 17.5 16.4 26.0 38

39 ABS issuers 0.4 0.6 2.5 4.4 7.5 14.4 22.2 31.6 37.8 56.7 39

40 Brokers and dealers 2.6 3.9 7.4 6.7 6.8 8.9 10.3 8.9 9.0 14.2 40

41 Funding corporations 0.9 2.4 3.4 4.4 6.8 9.5 9.4 8.2 7.3 7.0 41

(1) The Student Loan Marketing Association (Sallie Mae) was included until it was fully privatized in 2004:Q4.

(2) Syndicated loans from domestic entities, excluding depository institutions and finance companies which are included elsewhere.
FFA, 1995-2004, December 6, 2012 95

L.217 Total Mortgages

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total mortgages 4524.9 4805.7 5118.2 5603.2 6210.3 6768.6 7476.0 8377.0 9388.6 10660.1 1

 2 Home 3445.4 3681.6 3916.2 4272.4 4697.5 5122.2 5673.9 6428.8 7252.5 8288.7 2

 3 Multifamily residential 273.9 286.1 297.8 331.5 372.5 402.1 444.1 483.1 556.6 607.2 3

 4 Commercial 734.0 763.6 825.6 916.3 1053.0 1159.6 1269.4 1369.6 1496.3 1668.5 4

 5 Farm 71.7 74.4 78.5 83.1 87.2 84.7 88.5 95.4 83.2 95.7 5

 6 Total liabilities 4524.9 4805.7 5118.2 5603.2 6210.3 6768.6 7476.0 8377.0 9388.6 10660.1 6

 7 Household sector 3420.5 3642.7 3861.7 4172.7 4552.1 4946.8 5462.5 6179.4 7067.1 8020.9 7

 8 Nonfinancial business 1080.4 1131.1 1209.7 1359.0 1579.4 1738.2 1927.8 2100.6 2215.6 2507.9 8

 9 Corporate 210.4 221.0 248.6 250.2 332.4 356.8 422.7 470.0 521.0 592.6 9

10 Noncorporate 869.9 910.1 961.1 1108.8 1246.9 1381.5 1505.0 1630.6 1694.7 1915.2 10

11 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

12 REITs 24.1 31.9 46.8 71.6 78.8 83.6 85.8 97.0 105.9 131.4 12

13 Total assets 4524.9 4805.7 5118.2 5603.2 6210.3 6768.6 7476.0 8377.0 9388.6 10660.1 13

14 Household sector 113.3 105.8 98.7 94.3 101.6 103.4 108.7 116.6 120.9 131.3 14

15 Nonfinancial corporate business 57.9 54.4 80.2 67.3 41.2 43.5 46.6 49.6 51.8 66.6 15

16 Nonfinancial noncorporate business 21.7 20.4 18.7 26.3 24.1 23.4 26.8 26.2 26.3 30.8 16

17 State and local governments 113.8 117.6 121.3 127.4 131.8 130.5 129.7 124.4 131.1 147.9 17

18 Federal government 57.5 50.3 45.7 44.9 77.7 75.7 74.5 75.1 72.6 74.2 18

19 U.S.-chartered depository institutions 1642.1 1731.2 1840.2 1948.3 2133.5 2350.0 2510.8 2799.5 3083.9 3604.7 19

20 Foreign banking offices in U.S. 35.1 32.2 26.1 20.4 15.9 17.1 17.9 19.0 17.5 16.9 20

21 Banks in U.S.-affiliated areas 9.7 10.3 10.8 12.3 14.1 15.9 19.2 20.8 25.0 31.4 21

22 Credit unions 51.0 73.1 83.0 93.3 107.1 119.9 135.7 152.0 172.9 198.6 22

23 Property-casualty insurance companies 2.8 2.4 2.2 2.0 1.9 1.6 1.9 2.0 2.1 2.4 23

24 Life insurance companies 213.1 208.2 206.8 213.6 230.8 235.9 243.0 250.0 260.9 273.3 24

25 Private pension funds 8.6 9.3 10.1 9.9 11.7 11.9 9.8 10.3 10.2 10.0 25

26 State and local govt. retirement funds 15.9 16.7 17.6 22.4 25.7 22.1 21.0 21.1 20.4 15.1 26

27 Government-sponsored enterprises (1) 250.4 244.1 239.4 247.0 242.0 264.3 297.5 357.3 621.5 629.0 27

28 Agency- and GSE-backed mortgage pools 1570.7 1711.7 1826.3 2019.0 2293.5 2493.2 2831.8 3158.6 3343.3 3384.0 28

29 ABS issuers 241.5 277.6 339.4 467.8 538.7 604.5 725.1 836.0 1009.2 1449.4 29

30 Finance companies 105.5 126.7 128.6 160.9 195.3 237.9 258.2 330.5 370.2 476.0 30

31 REITs 14.1 13.8 22.9 26.3 23.5 17.5 17.9 28.1 48.8 118.4 31
96 FFA, 1995-2004, December 6, 2012

L.218 Home Mortgages (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total liabilities 3445.4 3681.6 3916.2 4272.4 4697.5 5122.2 5673.9 6428.8 7252.5 8288.7 1

 2 Household sector 3318.9 3537.0 3752.9 4054.0 4430.8 4814.0 5320.9 6025.6 6907.0 7855.8 2

 3 Nonfinancial corporate business 7.2 8.3 8.6 10.0 12.1 14.1 16.2 16.9 18.8 23.5 3

 4 Nonfinancial noncorporate business 119.3 136.3 154.7 208.4 254.6 294.1 336.9 386.4 326.7 409.4 4

 5 Total assets 3445.4 3681.6 3916.2 4272.4 4697.5 5122.2 5673.9 6428.8 7252.5 8288.7 5

 6 Household sector 95.9 87.0 78.1 73.1 80.2 87.3 94.2 100.3 106.3 112.9 6

 7 Nonfinancial corporate business 33.8 24.5 29.8 27.1 20.2 21.4 23.0 24.9 26.1 39.9 7

 8 Nonfinancial noncorporate business 8.2 7.6 7.0 9.7 8.9 8.7 9.9 9.6 9.7 11.3 8

 9 State and local governments 60.5 62.8 65.8 65.0 67.2 66.6 66.2 63.4 66.9 75.4 9

10 Federal government 24.2 21.2 19.1 18.8 18.4 16.5 15.9 15.0 14.1 13.6 10

11 U.S.-chartered depository institutions 1126.9 1188.6 1263.5 1326.9 1424.0 1555.0 1640.5 1848.5 2050.3 2440.2 11

12 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

13 Banks in U.S.-affiliated areas 5.7 6.3 6.4 7.5 8.1 9.1 8.2 9.7 12.2 15.6 13

14 Credit unions 51.0 73.1 83.0 93.3 107.1 119.9 135.7 152.0 172.9 198.6 14

15 Life insurance companies 10.3 8.5 8.7 8.2 8.3 7.5 7.8 6.7 8.4 8.1 15

16 Private pension funds 4.4 5.0 5.7 5.8 6.6 7.7 4.6 2.8 1.7 1.4 16

17 State and local govt. retirement funds 4.4 5.0 5.6 7.2 8.2 7.1 6.9 7.6 7.3 5.4 17

18 Government-sponsored enterprises 209.5 202.9 198.2 203.9 193.5 209.6 231.2 276.8 519.1 508.6 18

19 Agency- and GSE-backed mortgage pools 1543.4 1678.8 1788.1 1970.2 2234.7 2425.6 2748.5 3063.7 3233.5 3277.3 19

20 ABS issuers 193.8 215.4 253.8 321.9 353.7 385.5 463.2 543.6 666.5 1055.1 20

21 Finance companies 66.5 87.0 89.4 119.1 147.2 186.9 209.7 285.6 320.2 422.0 21

22 REITs 6.9 8.0 14.0 14.8 11.3 7.8 8.6 18.7 37.2 103.1 22

 Memo:

23 Home equity loans included above (2) 237.5 262.6 297.0 309.9 334.3 407.9 438.9 500.7 593.4 775.8 23

24 U.S.-chartered depository institutions 190.5 206.1 229.4 232.8 249.2 307.8 336.5 381.8 461.6 604.8 24

25 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

26 Credit unions 22.9 25.5 29.0 29.7 33.4 40.7 44.9 48.0 51.7 63.9 26

27 ABS issuers 2.7 3.5 4.8 6.9 8.4 10.5 12.4 15.0 16.1 23.5 27

28 Finance companies 21.4 27.5 33.8 40.5 43.3 49.0 45.0 56.0 64.0 83.7 28

(1) Mortgages on 1-4 family properties including mortages on farm houses.

(2) Loans made under home equity lines of credit and home equity loans secured by junior liens. Excludes home equity loans held by individuals.

L.219 Multifamily Residential Mortgages

Billions of dollars

 1 Total liabilities 273.9 286.1 297.8 331.5 372.5 402.1 444.1 483.1 556.6 607.2 1

 2 Nonfinancial corporate business 13.3 13.8 14.1 15.4 17.9 19.2 21.3 23.1 26.8 29.1 2

 3 Nonfinancial noncorporate business 252.6 261.8 268.3 292.4 340.0 365.2 403.8 439.2 508.5 553.2 3

 4 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 REITs 7.9 10.5 15.4 23.6 14.6 17.6 19.1 20.8 21.3 24.9 5

 6 Total assets 273.9 286.1 297.8 331.5 372.5 402.1 444.1 483.1 556.6 607.2 6

 7 Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Nonfinancial corporate business 0.1 0.8 1.4 1.1 0.9 0.8 0.9 0.9 1.0 1.0 8

 9 Nonfinancial noncorporate business 7.2 6.8 6.2 8.9 8.0 7.8 9.0 8.8 8.8 10.4 9

10 State and local governments 44.1 45.9 46.5 50.9 52.7 52.2 51.9 49.7 52.5 59.2 10

11 Federal government 17.7 14.8 13.9 13.6 13.6 13.9 13.7 14.3 14.5 15.0 11

12 U.S.-chartered depository institutions 104.5 107.0 109.2 111.7 127.0 139.1 149.4 162.8 182.4 206.3 12

13 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

14 Life insurance companies 28.7 30.8 30.4 31.5 32.8 33.7 35.6 36.8 38.6 40.5 14

15 Private pension funds 1.0 1.0 1.0 0.9 1.1 1.1 1.4 1.9 2.2 2.2 15

16 State and local govt. retirement funds 4.5 4.7 5.0 6.3 7.2 6.2 6.0 6.3 6.1 4.5 16

17 Government-sponsored enterprises 18.5 17.7 16.2 16.2 20.5 25.0 33.2 41.7 68.2 82.5 17

18 Agency- and GSE-backed mortgage pools 26.9 32.5 37.8 48.3 57.5 66.0 81.6 94.5 108.7 105.7 18

19 ABS issuers 11.9 15.7 20.2 33.1 41.6 46.9 52.8 58.3 66.4 72.9 19

20 Finance companies 7.2 7.2 8.0 7.0 7.2 7.6 7.1 5.7 5.7 5.6 20

21 REITs 1.6 1.2 2.1 2.1 2.3 1.7 1.4 1.3 1.5 1.6 21
FFA, 1995-2004, December 6, 2012 97

L.220 Commercial Mortgages

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total liabilities 734.0 763.6 825.6 916.3 1053.0 1159.6 1269.4 1369.6 1496.3 1668.5 1

 2 Household sector 101.6 105.7 108.8 118.7 121.2 132.8 141.7 153.8 160.1 165.0 2

 3 Nonfinancial corporate business 183.1 191.4 217.6 215.4 292.1 312.6 373.0 415.4 461.5 523.0 3

 4 Nonfinancial noncorporate business 433.1 445.1 467.9 534.2 575.5 648.3 688.2 724.3 790.2 874.0 4

 5 REITs 16.1 21.4 31.4 48.0 64.3 65.9 66.6 76.1 84.5 106.5 5

 6 Total assets 734.0 763.6 825.6 916.3 1053.0 1159.6 1269.4 1369.6 1496.3 1668.5 6

 7 Household sector 5.3 6.0 6.6 7.4 8.3 10.0 9.3 10.6 11.6 12.9 7

 8 Nonfinancial corporate business 24.0 29.1 49.1 39.1 20.1 21.2 22.7 23.7 24.7 25.6 8

 9 Nonfinancial noncorporate business 5.9 5.6 5.1 7.2 6.7 6.5 7.4 7.2 7.3 8.5 9

10 State and local governments 7.7 7.5 7.7 10.2 10.5 10.4 10.4 10.0 10.5 11.8 10

11 Federal government 9.4 8.5 7.8 7.9 41.5 41.1 41.0 42.1 40.5 42.4 11

12 U.S.-chartered depository institutions 390.3 414.0 443.9 484.1 554.5 625.6 689.3 754.5 821.5 923.0 12

13 Foreign banking offices in U.S. 35.1 32.2 26.1 20.4 15.9 17.1 17.9 19.0 17.5 16.9 13

14 Banks in U.S.-affiliated areas 4.0 3.9 4.4 4.8 6.0 6.8 11.0 11.2 12.8 15.9 14

15 Property-casualty insurance companies 2.8 2.4 2.2 2.0 1.9 1.6 1.9 2.0 2.1 2.4 15

16 Life insurance companies 165.9 160.3 158.8 164.0 179.0 183.8 188.4 195.0 203.9 214.1 16

17 Private pension funds 3.2 3.3 3.4 3.2 4.0 3.1 3.7 5.7 6.4 6.4 17

18 State and local govt. retirement funds 7.0 7.0 7.0 9.0 10.3 8.8 8.1 7.2 6.9 5.1 18

19 Agency- and GSE-backed mortgage pools 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

20 ABS issuers 35.8 46.5 65.4 112.8 143.4 172.1 209.1 234.2 276.3 321.4 20

21 Finance companies 31.8 32.6 31.3 34.8 40.9 43.4 41.4 39.2 44.2 48.4 21

22 REITs 5.6 4.6 6.9 9.4 10.0 8.0 7.9 8.1 10.1 13.6 22

L.221 Farm Mortgages (1)

Billions of dollars

 1 Total liabilities 71.7 74.4 78.5 83.1 87.2 84.7 88.5 95.4 83.2 95.7 1

 2 Nonfinancial corporate business 6.8 7.5 8.3 9.4 10.4 10.9 12.3 14.6 13.9 17.1 2

 3 Nonfinancial noncorporate business 64.9 66.9 70.2 73.7 76.8 73.9 76.2 80.8 69.3 78.6 3

 4 Total assets 71.7 74.4 78.5 83.1 87.2 84.7 88.5 95.4 83.2 95.7 4

 5 Household sector 12.1 12.8 14.0 13.7 13.1 6.1 5.2 5.8 3.0 5.5 5

 6 Nonfinancial noncorporate business 0.4 0.4 0.4 0.5 0.5 0.5 0.5 0.5 0.5 0.6 6

 7 State and local governments 1.4 1.4 1.4 1.3 1.3 1.3 1.3 1.2 1.3 1.5 7

 8 Federal government 6.2 5.8 4.9 4.5 4.3 4.1 4.0 3.7 3.4 3.2 8

 9 U.S.-chartered depository institutions 20.4 21.5 23.6 25.6 28.0 30.3 31.6 33.6 29.7 35.2 9

10 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

11 Life insurance companies 8.2 8.6 8.9 9.9 10.6 11.1 11.2 11.4 10.0 10.7 11

12 State and local govt. retirement funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

13 Government-sponsored enterprises 22.5 23.5 25.0 27.0 28.1 29.7 33.1 38.8 34.2 38.0 13

14 Agency- and GSE-backed mortgage pools 0.4 0.4 0.4 0.5 1.3 1.6 1.7 0.4 1.0 0.9 14

(1) Excludes mortgages on farm houses.
98 FFA, 1995-2004, December 6, 2012

L.222 Consumer Credit

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total liabilities (Households) 1168.2 1273.9 1344.2 1441.3 1553.6 1741.3 1891.8 1997.0 2102.9 2220.1 1

 2 Total assets 1168.2 1273.9 1344.2 1441.3 1553.6 1741.3 1891.8 1997.0 2102.9 2220.1 2

 3 Nonfinancial corporate business 85.1 77.7 84.4 79.3 76.1 81.5 73.1 74.8 59.1 59.2 3

 4 Nonfinancial noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Federal government (1) 9.2 17.7 27.6 36.5 48.0 59.7 72.5 80.5 82.4 86.1 5

 6 U.S.-chartered depository institutions 542.4 572.2 562.2 564.4 569.5 615.8 639.5 671.3 747.3 795.6 6

 7 Credit unions 131.9 144.1 152.4 155.4 167.9 184.4 189.6 195.7 205.9 215.4 7

 8 Government-sponsored enterprises 34.3 33.8 29.5 28.4 33.8 37.0 39.4 36.8 20.6 0.0 8

 9 ABS issuers 213.1 273.5 320.5 393.9 456.7 528.4 597.8 630.4 594.8 571.5 9

10 Finance companies 152.1 154.9 167.5 183.3 201.6 234.4 280.0 307.5 393.0 492.3 10

(1) Includes loans originated by the Department of Education under the Federal Direct Loan Program, as well as Federal Family Education Loan Program loans that

 the government purchased from depository institutions and finance companies.

L.223 Trade Credit

Billions of dollars

 1 Total trade payables 1443.4 1554.6 1682.8 1787.8 2049.7 2444.2 2359.8 2446.6 2468.1 2662.8 1

 2 Household sector 101.1 109.1 118.0 126.8 130.9 134.7 132.9 152.0 156.8 173.3 2

 3 Nonfinancial corporate business 878.6 928.3 993.6 1051.2 1229.8 1542.4 1438.8 1458.6 1403.9 1501.6 3

 4 Nonfinancial noncorporate business 96.7 128.5 160.4 190.8 225.2 266.7 262.0 287.4 261.2 284.9 4

 5 State and local governments 229.2 247.4 266.9 287.7 310.5 335.5 362.4 390.7 419.7 449.9 5

 6 Federal government 81.0 82.1 73.8 66.3 72.1 77.7 81.0 82.0 153.6 169.0 6

 7 Rest of the world 46.5 44.8 50.0 46.1 50.4 51.2 43.5 38.6 44.7 48.2 7

 8 Brokers and dealers 10.3 14.3 19.9 18.9 30.9 35.9 39.2 37.4 28.2 36.0 8

 9 Total trade receivables 1583.2 1722.0 1872.7 1995.9 2238.4 2616.6 2518.4 2440.1 2428.5 2599.2 9

10 Nonfinancial corporate business 1184.9 1273.1 1361.1 1448.4 1657.6 1939.2 1817.9 1719.5 1701.8 1830.6 10

11 Nonfinancial noncorporate business 140.3 169.8 204.9 233.1 272.6 342.1 343.9 362.8 337.7 364.3 11

12 State and local governments 77.3 82.9 89.2 96.3 104.9 109.9 115.9 118.4 115.9 111.2 12

13 Federal government 23.1 24.0 20.8 22.3 22.9 28.1 35.5 32.2 51.3 61.8 13

14 Rest of the world 49.3 54.9 55.8 49.3 49.7 49.4 46.2 48.8 50.1 49.0 14

15 Property-casualty insurance companies 57.3 57.2 59.9 61.5 63.6 64.6 69.9 74.8 79.3 79.6 15

16 ABS issuers 50.9 60.1 81.0 85.0 67.2 83.3 89.1 83.5 92.3 102.6 16

17 Discrepancy -139.8 -167.4 -189.9 -208.1 -188.7 -172.5 -158.6 6.5 39.6 63.6 17

L.224 Security Credit

Billions of dollars

 1 Total liabilities 305.7 358.1 469.1 572.2 676.6 822.7 825.9 738.8 858.8 1038.2 1

 2 Household sector 78.6 94.4 131.2 152.8 227.9 235.1 196.4 148.2 182.5 264.0 2

 3 Rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Brokers and dealers 227.1 263.7 337.9 419.5 448.7 587.6 629.5 590.6 676.3 774.2 4

 5 Customer credit balances (HH) 127.6 162.9 215.5 276.7 323.9 412.4 454.3 412.7 475.4 578.3 5

 6 From U.S.-chartered depository institutions 65.1 60.2 64.4 76.3 67.6 74.7 81.9 79.2 91.4 102.2 6

 7 From foreign banking offices in U.S. 34.4 40.6 58.0 66.5 57.2 100.5 93.3 98.7 109.5 93.7 7

 8 Total assets 305.7 358.1 469.1 572.2 676.6 822.7 825.9 738.8 858.8 1038.2 8

 9 Household sector 127.6 162.9 215.5 276.7 323.9 412.4 454.3 412.7 475.4 578.3 9

10 Rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

11 U.S.-chartered depository institutions 65.1 60.2 64.4 76.3 67.6 74.7 81.9 79.2 91.4 102.2 11

12 Foreign banking offices in U.S. 34.4 40.6 58.0 66.5 57.2 100.5 93.3 98.7 109.5 93.7 12

13 Brokers and dealers 78.6 94.4 131.2 152.8 227.9 235.1 196.4 148.2 182.5 264.0 13
FFA, 1995-2004, December 6, 2012 99

L.225 Life Insurance and Pension Fund Reserves

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 Life insurance reserves:

 1 Total liabilities 566.2 610.6 665.0 718.3 783.9 819.1 880.0 920.9 1013.2 1060.4 1

 2 Federal government 29.9 30.5 32.3 33.6 35.0 36.4 37.8 39.4 40.5 41.6 2

 3 Life insurance companies 536.3 580.1 632.7 684.7 748.9 782.7 842.2 881.6 972.7 1018.8 3

 4 Net change in assets 566.2 610.6 665.0 718.3 783.9 819.1 880.0 920.9 1013.2 1060.4 4

 5 Households 566.2 610.6 665.0 718.3 783.9 819.1 880.0 920.9 1013.2 1060.4 5

 6 U.S.-chartered depository institutions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Holding companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 Pension fund reserves:

 8 Total liabilities 5725.1 6386.7 7360.7 8265.4 9264.1 9171.3 8764.3 8189.8 9719.4 10635.8 8

 9 Life insurance companies 890.6 974.0 1116.3 1288.4 1478.4 1526.3 1558.5 1604.9 1803.2 2027.9 9

10 Private pension funds (1) 2939.4 3268.5 3759.9 4198.1 4651.5 4508.1 4095.9 3717.3 4561.3 4963.0 10

11 State and local govt. retirement funds 1354.0 1538.3 1825.4 2062.9 2360.2 2340.3 2250.3 1973.5 2396.0 2621.3 11

12 Federal government retirement funds (2) 541.1 605.8 659.1 716.0 774.0 796.7 859.7 894.0 958.9 1023.6 12

13 Total assets (Households) (3) 5725.1 6386.7 7360.7 8265.4 9264.1 9171.3 8764.3 8189.8 9719.4 10635.8 13

(1) Includes unallocated insurance company contracts beginning 1985:Q4.

(2) Includes the Thrift Savings Plan, the National Railroad Retirement Investment Trust, and other federal government retirement funds.

(3) Excludes all individual retirement accounts (IRAs) (table L.225.i), except those at life insurance companies.

L.226 Taxes Payable by Businesses

Billions of dollars

 1 Total taxes payable by all businesses 94.8 110.8 117.1 130.3 150.5 179.4 191.2 200.6 198.8 219.2 1

 2 Nonfinancial corporate business 40.3 49.9 59.2 64.1 71.0 78.0 81.0 93.0 81.2 88.0 2

 3 Nonfinancial noncorporate business 33.4 35.7 39.9 44.1 53.0 64.6 68.7 70.2 69.7 78.0 3

 4 U.S.-chartered depository institutions -0.1 2.0 7.3 10.4 12.4 22.1 25.9 35.9 37.7 37.2 4

 5 Property-casualty insurance companies 3.3 3.9 4.4 3.3 3.4 3.4 3.7 -3.7 1.0 1.5 5

 6 Life insurance companies 12.0 12.5 -1.6 -0.1 0.5 0.1 -0.3 -7.7 -5.8 -2.7 6

 7 Finance companies 4.9 5.7 6.5 7.3 8.1 9.1 10.2 11.6 13.2 15.0 7

 8 Brokers and dealers 1.1 1.3 1.3 1.3 2.2 2.1 1.9 1.3 1.8 2.2 8

 9 Total business taxes receivable 55.2 130.6 133.0 131.5 139.6 153.8 155.5 164.6 168.5 177.4 9

10 State and local governments 38.0 40.4 44.7 49.6 59.3 70.5 71.5 74.0 74.9 86.2 10

11 Federal government 17.3 90.2 88.4 82.0 80.3 83.3 84.0 90.7 93.7 91.2 11

12 Discrepancy 39.6 -19.7 -16.0 -1.2 10.9 25.6 35.7 36.0 30.2 41.8 12

L.227 Proprietors’ Equity in Noncorporate Business

Billions of dollars

 1 Total household equity 3569.6 3690.8 4135.0 4386.1 4643.0 5137.2 5334.9 5686.6 6301.4 7548.7 1

 2 Nonfinancial noncorporate business 3564.2 3684.3 4125.5 4376.5 4631.5 5125.5 5328.8 5681.6 6288.4 7537.6 2

 3 Brokers and dealers 5.4 6.5 9.5 9.6 11.5 11.7 6.2 5.0 13.0 11.2 3
100 FFA, 1995-2004, December 6, 2012

L.228 Total Miscellaneous Financial Claims

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total liabilities 6276.2 6828.1 7242.0 8042.1 9062.4 10249.7 10984.9 11633.6 11887.3 13352.9 1

 2 Household sector 17.5 18.3 18.6 17.2 19.4 19.6 19.1 20.0 20.9 22.5 2

 3 Nonfinancial corporate business 1998.1 2136.3 2004.2 2381.1 2734.5 3245.5 3333.4 3361.0 3271.8 3403.1 3

 4 Nonfinancial noncorporate business 214.8 245.5 301.3 392.9 466.8 552.4 607.7 627.0 649.7 718.2 4

 5 Federal government 513.0 568.7 608.3 649.6 690.6 711.3 772.0 811.7 855.8 913.9 5

 6 Rest of the world 1057.7 1186.7 1268.2 1422.2 1741.5 1885.7 2028.3 2330.9 2329.8 3132.1 6

 7 Monetary authority 6.6 6.6 8.7 9.2 8.3 9.3 7.0 8.1 8.3 12.5 7

 8 U.S.-chartered depository institutions 603.2 641.9 723.4 642.2 601.7 743.4 766.7 917.8 901.4 1140.3 8

 9 Foreign banking offices in U.S. 308.5 295.2 351.5 357.3 312.2 340.1 316.9 361.8 328.4 209.2 9

10 Banks in U.S.-affiliated areas 11.9 12.3 16.9 23.9 26.3 26.5 31.8 30.8 34.2 46.0 10

11 Credit unions 4.5 4.6 4.6 5.2 6.0 5.6 3.8 5.7 7.4 9.3 11

12 Property-casualty insurance companies 501.6 509.9 522.3 527.7 534.4 543.0 574.6 615.7 667.2 708.3 12

13 Life insurance companies 514.5 547.4 610.5 624.2 651.8 631.2 629.9 642.6 746.6 801.2 13

14 Government-sponsored enterprises 65.1 65.7 74.6 95.6 90.1 97.0 148.2 188.4 151.5 143.7 14

15 Finance companies 218.9 222.6 222.0 211.6 283.7 417.6 471.5 539.2 666.4 719.6 15

16 REITs 6.7 9.2 18.0 31.6 36.3 38.1 38.1 40.9 42.5 50.8 16

17 Brokers and dealers 91.7 122.1 152.0 195.4 208.3 216.6 358.5 258.5 296.4 376.4 17

18 Holding companies 24.6 36.3 57.9 74.1 88.1 104.4 150.6 189.9 240.3 270.6 18

19 Funding corporations 117.1 199.0 278.8 381.0 562.4 662.4 726.8 683.5 668.7 675.1 19

20 Total assets 7351.7 8169.4 9132.7 10563.6 12141.8 14354.1 15335.9 16020.5 16556.3 18566.3 20

21 Household sector 328.3 338.9 351.5 360.8 372.6 378.7 397.8 444.9 501.3 553.8 21

22 Nonfinancial corporate business 3078.2 3421.2 3631.1 4481.9 5425.2 6716.1 6932.2 7069.1 7139.5 7723.1 22

23 Nonfinancial noncorporate business 196.3 232.6 289.2 414.1 496.6 586.5 717.0 758.0 809.0 1045.1 23

24 State and local governments 79.4 81.0 153.1 152.6 139.8 118.2 103.1 76.9 65.0 89.8 24

25 Federal government 116.9 110.2 106.7 113.8 119.0 123.6 125.6 128.7 130.7 134.0 25

26 Rest of the world 902.8 1013.9 1185.9 1281.8 1621.7 2139.8 2414.4 2602.5 2482.6 3018.5 26

27 Monetary authority 10.7 11.2 13.2 16.1 16.8 19.3 20.3 19.6 18.2 18.6 27

28 U.S.-chartered depository institutions 233.4 259.3 327.3 325.0 354.7 406.5 452.7 636.9 663.4 818.2 28

29 Foreign banking offices in U.S. 223.2 203.3 242.1 244.6 217.4 192.6 206.0 206.1 176.3 56.8 29

30 Banks in U.S.-affiliated areas 4.0 4.8 6.6 9.7 8.7 6.6 12.5 6.4 4.3 5.2 30

31 Credit unions 13.9 13.8 17.5 24.3 8.0 12.9 18.3 30.4 26.3 24.5 31

32 Property-casualty insurance companies 37.8 33.6 42.8 47.0 47.8 47.9 49.3 79.0 84.6 89.9 32

33 Life insurance companies 118.8 126.4 149.2 170.1 159.1 188.1 205.4 197.0 220.9 243.9 33

34 Private pension funds 501.2 545.2 574.2 584.5 587.6 527.3 426.8 402.7 467.3 479.2 34

35 State and local govt. retirement funds 4.8 5.5 5.6 5.8 7.1 8.2 10.0 10.4 11.3 15.9 35

36 Federal government retirement funds 506.3 561.4 601.7 642.9 684.0 704.9 765.8 790.3 815.0 855.9 36

37 Money market mutual funds 39.4 43.8 58.1 65.7 90.6 68.3 65.1 56.5 56.2 53.3 37

38 Mutual funds 6.3 4.7 11.8 7.7 4.2 3.5 0.9 0.9 2.0 7.0 38

39 Government-sponsored enterprises 26.9 60.1 67.7 67.6 72.5 63.4 68.9 90.9 109.4 113.9 39

40 Finance companies 18.2 22.9 37.3 3.1 17.2 51.7 67.5 81.1 120.5 94.5 40

41 REITs 7.3 5.6 10.5 21.2 19.9 21.7 22.4 25.0 29.3 40.4 41

42 Brokers and dealers 258.2 320.7 391.8 499.3 522.8 655.1 821.0 723.7 858.8 994.0 42

43 Holding companies 473.9 518.6 577.6 696.5 752.9 870.6 996.5 1108.3 1271.1 1555.9 43

44 Funding corporations 165.5 230.7 280.1 327.3 395.7 442.4 436.5 475.2 493.4 534.8 44

45 Discrepancy -1075.5 -1341.3 -1890.7 -2521.5 -3079.3 -4104.3 -4351.0 -4386.8 -4669.1 -5213.4 45
FFA, 1995-2004, December 6, 2012 101

L.229 Identified Miscellaneous Financial Claims - Part I

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 U.S. direct investment abroad:

 1 Liab.: Rest of the world 885.5 989.8 1068.1 1196.0 1414.4 1531.6 1693.1 1867.0 2054.5 2498.5 1

 2 Asset: Nonfinancial corporate business 778.7 866.5 933.1 1041.0 1250.7 1351.6 1489.8 1611.9 1745.1 2094.7 2

 3 U.S.-chartered depository institutions 37.9 42.8 44.2 31.2 36.0 44.5 50.6 51.0 57.5 93.5 3

 4 Property-casualty insurance companies 37.8 33.6 42.8 47.0 47.8 47.9 49.3 79.0 84.6 89.9 4

 5 Life insurance companies 5.6 6.6 8.6 11.1 9.4 10.4 8.6 12.2 14.4 16.6 5

 6 Finance companies 22.8 27.9 35.1 58.0 20.5 16.2 11.9 12.4 15.7 14.7 6

 7 Brokers and dealers 2.8 12.4 4.2 7.7 49.9 61.0 83.0 100.5 137.3 189.2 7

 Foreign direct investment in U.S.:

 8 Liab.: Nonfinancial corporate business 651.3 704.8 756.4 817.8 912.5 1180.0 1266.2 1252.5 1302.0 1409.8 8

 9 Nonfinancial noncorporate business 2.8 4.0 3.9 3.4 3.6 3.3 3.3 4.0 3.3 3.0 9

10 Foreign banking offices in U.S. 32.7 30.3 38.8 46.1 62.0 64.2 67.2 73.3 85.2 122.7 10

11 Property-casualty insurance companies 36.8 38.5 46.2 47.3 51.5 60.9 66.4 63.3 68.2 61.4 11

12 Life insurance companies 13.8 17.6 25.2 27.3 32.1 42.9 38.8 49.6 46.6 66.6 12

13 Finance companies 7.5 8.9 5.5 8.0 9.9 9.3 12.9 14.5 30.7 21.8 13

14 Brokers and dealers 17.4 20.8 29.4 29.7 38.7 54.0 56.1 35.4 37.4 49.6 14

15 Funding corporations -82.2 -79.2 -81.2 -59.5 -8.5 6.6 7.7 7.3 7.6 7.8 15

16 Asset: Rest of the world 680.1 745.6 824.1 920.0 1101.7 1421.0 1518.5 1500.0 1581.0 1742.7 16

 Federal government equity in IBRD, etc.:

17 Liab.: Rest of the world 27.4 29.2 30.8 32.4 33.9 35.4 37.1 38.6 40.0 42.0 17

18 Asset: Federal government 27.4 29.2 30.8 32.4 33.9 35.4 37.1 38.6 40.0 42.0 18

 Federal Reserve Bank stock:

19 Liab.: Monetary authority 4.0 4.6 5.4 6.0 6.4 7.0 7.4 8.4 8.8 11.9 19

20 Asset: U.S.-chartered depository institutions 4.0 4.6 5.4 6.0 6.4 7.0 7.4 8.4 8.8 11.9 20

 Equity in government-sponsored enterprises:

21 Liab.: Government-sponsored enterprises 18.3 19.7 21.5 25.5 31.6 33.8 37.1 39.1 42.3 44.8 21

22 Asset: Nonfin. corporate business (Fannie Mae and FCS) 0.2 0.2 0.2 0.2 0.2 0.2 0.3 0.3 0.4 0.5 22

23 Nonfinancial noncorporate (FCS) 2.9 3.0 3.0 3.0 3.0 3.1 3.5 3.6 4.2 4.2 23

24 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

25 U.S.-chartered depository institutions (FHLB) 14.9 16.2 17.9 21.8 27.5 29.5 32.1 33.5 35.1 36.7 25

26 Credit unions (FHLB) 0.2 0.2 0.2 0.3 0.5 0.6 0.9 1.2 1.4 1.7 26

27 Life insurance companies (FHLB) 0.1 0.2 0.2 0.2 0.3 0.4 0.3 0.5 1.1 1.7 27

 Holding company net transactions with subsidiaries:

28 Liab.: U.S.-chartered depository institutions 350.6 384.3 415.5 476.7 501.1 595.9 656.3 722.8 742.7 961.8 28

29 Property-casualty insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

30 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 15.6 19.6 23.4 25.9 30

31 Finance companies 28.6 31.5 35.2 36.0 83.9 109.2 144.9 161.1 181.8 234.1 31

32 Brokers and dealers 53.8 43.5 47.0 85.2 54.2 56.8 24.0 1.4 21.1 23.2 32

33 Rest of the world 18.5 22.6 21.9 21.3 25.4 -7.1 -10.4 -11.1 33.1 7.5 33

34 Asset: Holding companies 451.5 481.9 519.6 619.2 664.7 754.8 830.3 893.8 1002.1 1252.5 34

 NFC investment in finance company subsidiaries:

35 Liab.: Finance companies 22.5 23.0 28.0 18.0 28.6 29.4 11.6 18.5 21.0 23.6 35

36 Asset: Nonfinancial corporate business 22.5 23.0 28.0 18.0 28.6 29.4 11.6 18.5 21.0 23.6 36

 Funding corporations’ investment in subsidiaries:

37 Liab.: Foreign banking offices in U.S. 50.7 64.5 78.8 90.6 93.0 138.7 108.7 127.3 134.7 167.7 37

38 Brokers and dealers 114.8 166.3 201.3 236.8 302.7 303.8 327.7 347.9 358.7 367.1 38

39 Asset: Funding corporations 165.5 230.7 280.1 327.3 395.7 442.4 436.5 475.2 493.4 534.8 39

 Equity investment under Public-Private Inv. Program:

40 Liab.: Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 40

41 Asset: Households (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 41

42 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 42

(1) Funds invested by financial institutions such as domestic hedge funds through the Public-Private Investment Program (PPIP).
102 FFA, 1995-2004, December 6, 2012

L.230 Identified Miscellaneous Financial Claims - Part II

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 Nonofficial foreign currencies:

 1 Liab.: Rest of the world 2.3 2.1 2.1 1.9 2.6 2.6 2.5 2.6 2.8 2.8 1

 2 Asset: Federal government 2.3 2.1 2.1 1.9 2.6 2.6 2.5 2.6 2.8 2.8 2

 3 Monetary authority (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 Postal Savings System deposits:

 4 Liab.: Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Asset: Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 Deposits at Federal Home Loan Banks:

 6 Liab.: Government-sponsored enterprises 19.3 18.0 18.0 24.9 17.1 17.1 25.7 27.6 20.5 18.4 6

 7 Asset: U.S.-chartered depository institutions 19.3 18.0 18.0 24.9 17.1 17.1 25.7 27.6 20.5 18.4 7

 Deferred and unpaid life insurance premiums:

 8 Liab.: Household sector 17.5 18.3 18.6 17.2 19.4 19.6 19.1 20.0 20.9 22.5 8

 9 Asset: Life insurance companies 17.5 18.3 18.6 17.2 19.4 19.6 19.1 20.0 20.9 22.5 9

 Life insurance company reserves:

10 Liab.: Life insurance companies 121.5 129.3 140.0 150.3 162.0 168.9 175.4 185.6 199.5 211.0 10

11 Accident and health 63.2 69.4 75.7 83.0 93.5 97.4 100.5 110.6 121.5 131.3 11

12 Policy dividend accumulation 33.7 34.5 36.4 37.1 38.4 39.5 40.4 40.6 40.5 41.7 12

13 Contract claims 24.6 25.4 27.8 30.2 30.1 32.0 34.4 34.5 37.5 38.0 13

14 Asset: Household sector 121.5 129.3 140.0 150.3 162.0 168.9 175.4 185.6 199.5 211.0 14

 Policy payables:

15 Liab.: Property-casualty insurance companies 464.8 471.4 476.2 480.4 482.9 482.1 508.2 552.4 599.0 646.9 15

16 Asset: Household sector 206.8 209.6 211.6 210.5 210.6 209.9 222.4 243.9 266.8 290.4 16

17 Nonfinancial corporate business 186.5 189.3 191.4 193.6 195.0 195.1 205.9 224.0 243.0 262.7 17

18 Nonfinancial noncorporate business 71.5 72.5 73.2 76.2 77.3 77.2 80.0 84.5 89.2 93.7 18

 Unallocated insurance company contracts:

19 Liab.: Life insurance companies 322.2 341.0 351.7 344.3 346.0 308.2 275.8 249.6 317.0 328.4 19

20 Asset: Private pension funds 322.2 341.0 351.7 344.3 346.0 308.2 275.8 249.6 317.0 328.4 20

 Pension fund contributions payable:

21 Liab.: Nonfinancial corporate business 83.8 89.2 97.6 110.5 92.1 73.0 48.4 49.9 49.8 46.6 21

22 Asset: Private pension funds 83.8 89.2 97.6 110.5 92.1 73.0 48.4 49.9 49.8 46.6 22

 Securities borrowed (net):

23 Liab.: Funding corporations 216.2 276.1 333.3 403.3 419.5 508.2 578.3 575.4 678.0 764.8 23

24 Asset: Brokers and dealers 216.2 276.1 333.3 403.3 419.5 508.2 578.3 575.4 678.0 764.8 24

 Nonmarketable government securities:

25 Liab.: Federal government 506.3 561.4 601.7 642.9 684.0 704.9 765.8 790.3 815.0 855.9 25

26 Asset: Federal government retirement funds 506.3 561.4 601.7 642.9 684.0 704.9 765.8 790.3 815.0 855.9 26

 Retiree health care funds (2):

27 Liab.: Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15.4 35.0 52.4 27

28 Asset: Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15.4 35.0 52.4 28

(1) Reciprocal currency arrangements (swap lines) with foreign central banks.

(2) Includes Uniform Services Retiree Health Care Fund and Postal Service Retiree Health Benefits Fund.
FFA, 1995-2004, December 6, 2012 103

L.231 Unidentified Miscellaneous Financial Claims

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total liabilities 2267.8 2396.8 2425.4 2722.1 3159.9 3709.8 4014.2 4324.2 3906.9 4252.4 1

 2 Nonfinancial corporate business 1263.1 1342.3 1150.2 1452.9 1730.0 1992.6 2018.8 2058.6 1920.0 1946.7 2

 3 Nonfinancial noncorporate business 212.0 241.5 297.5 389.6 463.2 549.2 604.3 623.1 646.5 715.2 3

 4 Federal government 6.7 7.3 6.6 6.7 6.6 6.4 6.2 6.0 5.8 5.6 4

 5 Rest of the world 124.0 143.0 145.3 170.6 265.3 323.3 306.0 433.8 199.4 581.4 5

 6 Monetary authority 2.6 2.0 3.2 3.3 1.9 2.3 -0.3 -0.2 -0.6 0.6 6

 7 U.S.-chartered depository institutions 252.6 257.6 307.9 165.5 100.5 147.5 110.4 195.0 158.8 178.5 7

 8 Foreign banking offices in U.S. 225.1 200.5 233.9 220.6 157.2 137.2 141.0 161.2 108.5 -81.2 8

 9 Banks in U.S.-affiliated areas 11.9 12.3 16.9 23.9 26.3 26.5 31.8 30.8 34.2 46.0 9

10 Credit unions 4.5 4.6 4.6 5.2 6.0 5.6 3.8 5.7 7.4 9.3 10

11 Life insurance companies 57.0 59.5 93.7 102.3 111.6 111.3 124.3 138.2 160.1 169.3 11

12 Government-sponsored enterprises 27.6 28.0 35.1 45.2 41.5 46.1 85.4 121.7 88.8 80.5 12

13 Finance companies 160.4 159.1 153.4 149.6 161.3 269.7 302.1 345.2 432.9 440.1 13

14 REITs 6.7 9.2 18.0 31.6 36.3 38.1 38.1 40.9 42.5 50.8 14

15 Brokers and dealers -94.3 -108.4 -125.6 -156.2 -187.3 -197.9 -49.3 -126.2 -120.8 -63.5 15

16 Holding companies 24.6 36.3 57.9 74.1 88.1 104.4 150.6 189.9 240.3 270.6 16

17 Funding corporations -16.8 2.2 26.7 37.3 151.3 147.7 140.9 100.7 -16.9 -97.5 17

18 Total assets 3343.4 3738.1 4316.1 5243.6 6239.2 7814.2 8365.2 8711.1 8575.9 9465.8 18

19 Nonfinancial corporate business 2090.4 2342.2 2478.4 3229.1 3950.6 5139.8 5224.7 5214.4 5130.0 5341.6 19

20 Nonfinancial noncorporate business 121.9 157.1 213.0 334.9 416.3 506.2 633.5 670.0 715.7 947.1 20

21 State and local governments 79.4 81.0 153.1 152.6 139.8 118.2 103.1 76.9 65.0 89.8 21

22 Federal government 87.2 78.8 73.8 79.5 82.6 85.7 86.0 87.6 87.9 89.3 22

23 Rest of the world 222.7 268.3 361.8 361.7 520.0 718.8 895.9 1102.5 901.6 1275.8 23

24 Monetary authority 10.7 11.2 13.2 16.1 16.8 19.3 20.3 19.6 18.2 18.6 24

25 U.S.-chartered depository institutions 157.4 177.7 241.8 241.3 267.7 308.4 336.9 516.4 541.4 657.7 25

26 Foreign banking offices in U.S. 223.2 203.3 242.1 244.6 217.4 192.6 206.0 206.1 176.3 56.8 26

27 Banks in U.S.-affiliated areas 4.0 4.8 6.6 9.7 8.7 6.6 12.5 6.4 4.3 5.2 27

28 Credit unions 13.8 13.6 17.3 24.0 7.4 12.3 17.4 29.2 24.9 22.8 28

29 Life insurance companies 95.6 101.3 121.7 141.5 129.9 157.8 177.5 164.3 184.5 203.1 29

30 Private pension funds 95.3 115.1 124.9 129.7 149.5 146.2 102.6 103.2 100.5 104.1 30

31 State and local govt. retirement funds 4.8 5.5 5.6 5.8 7.1 8.2 10.0 10.4 11.3 15.9 31

32 Mutual funds 6.3 4.7 11.8 7.7 4.2 3.5 0.9 0.9 2.0 7.0 32

33 Money market mutual funds 39.4 43.8 58.1 65.7 90.6 68.3 65.1 56.5 56.2 53.3 33

34 Government-sponsored enterprises 26.9 60.1 67.7 67.6 72.5 63.4 68.9 90.9 109.4 113.9 34

35 Finance companies -4.6 -5.0 2.2 -54.9 -3.3 35.5 55.6 68.7 104.9 79.8 35

36 REITs 7.3 5.6 10.5 21.2 19.9 21.7 22.4 25.0 29.3 40.4 36

37 Brokers and dealers 39.2 32.2 54.4 88.4 53.4 85.9 159.7 47.8 43.5 40.0 37

38 Holding companies 22.4 36.7 58.0 77.4 88.2 115.9 166.2 214.5 269.0 303.4 38

39 Discrepancy -1075.5 -1341.3 -1890.7 -2521.5 -3079.3 -4104.3 -4351.0 -4386.8 -4669.1 -5213.4 39
104 FFA, 1995-2004, December 6, 2012

B.100 Balance Sheet of Households and Nonprofit Organizations (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Assets 33255.4 35512.0 39723.0 44115.8 49777.9 50631.6 51107.7 50840.5 57840.2 65863.8 1

 2 Nonfinancial assets 11472.3 11964.0 12693.3 13760.5 14945.9 16861.1 18411.3 19974.5 21847.4 24885.3 2

 3 Real estate 8843.9 9234.3 9868.0 10808.5 11822.2 13522.3 14895.1 16275.8 17974.8 20783.1 3

 4 Households (2,3) 8055.3 8431.8 8865.0 9694.3 10645.3 12191.0 13565.9 14849.5 16452.1 18952.9 4

 5 Nonprofit organizations 788.6 802.5 1003.0 1114.2 1176.9 1331.2 1329.2 1426.2 1522.6 1830.1 5

 Equipment and software owned by

 6 nonprofit organizations (4) 97.4 99.3 104.4 115.0 127.6 142.8 156.8 174.0 190.6 208.1 6

 7 Consumer durable goods (4) 2531.0 2630.3 2720.9 2837.0 2996.2 3196.0 3359.4 3524.7 3682.0 3894.1 7

 8 Financial assets 21783.1 23548.0 27029.8 30355.4 34832.0 33770.5 32696.5 30866.0 35992.8 40978.5 8

 9 Deposits 3399.5 3539.1 3707.3 3934.6 4116.0 4439.9 4960.9 5228.3 5436.4 5816.2 9

10 Foreign deposits 23.4 35.5 37.2 37.7 40.7 48.3 48.7 49.9 52.1 57.5 10

11 Checkable deposits and currency 586.5 544.8 503.8 528.6 508.9 405.1 480.0 464.1 458.2 400.0 11

12 Time and savings deposits 2317.2 2457.9 2594.9 2696.9 2792.3 3049.3 3331.1 3642.6 3965.9 4454.6 12

13 Money market fund shares 472.4 500.9 571.3 671.3 774.2 937.3 1101.1 1071.7 960.2 904.1 13

14 Credit market instruments 2379.7 2545.0 2501.4 2554.6 2670.9 2563.6 2460.1 2596.0 2842.4 3876.1 14

15 Open market paper 71.7 75.8 77.1 80.2 84.9 97.3 88.2 82.2 77.3 83.7 15

16 Treasury securities 828.0 888.9 797.8 733.1 810.2 579.1 434.0 263.5 407.1 470.5 16

17 Savings bonds 185.0 187.0 186.5 186.6 186.4 184.8 190.3 194.9 203.8 204.4 17

18 Other Treasury 643.0 701.9 611.4 546.4 623.7 394.3 243.7 68.7 203.3 266.1 18

19 Agency- and GSE-backed securities 216.4 332.8 389.7 441.7 541.8 594.0 407.3 247.4 388.8 390.6 19

20 Municipal securities 533.4 493.0 497.6 498.7 528.1 531.2 580.7 678.3 703.4 1531.4 20

21 Corporate and foreign bonds 616.7 648.7 640.2 706.5 603.9 656.7 838.6 1205.1 1141.7 1262.6 21

22 Other loans and advances (5) 0.1 0.1 0.2 0.2 0.6 1.9 2.6 2.8 3.1 5.9 22

23 Mortgages 113.3 105.8 98.7 94.3 101.6 103.4 108.7 116.6 120.9 131.3 23

24 Corporate equities (2) 4434.2 4712.2 6144.1 7506.8 9763.0 8140.2 6825.9 5163.5 6788.0 7479.1 24

25 Mutual fund shares (6) 1253.0 1561.9 1949.3 2352.2 2894.6 2708.0 2618.2 2223.3 2915.4 3430.2 25

26 Security credit 127.6 162.9 215.5 276.7 323.9 412.4 454.3 412.7 475.4 578.3 26

27 Life insurance reserves 566.2 610.6 665.0 718.3 783.9 819.1 880.0 920.9 1013.2 1060.4 27

28 Pension fund reserves 5725.1 6386.7 7360.7 8265.4 9264.1 9171.3 8764.3 8189.8 9719.4 10635.8 28

29 Equity in noncorporate business (7) 3569.6 3690.8 4135.0 4386.1 4643.0 5137.2 5334.9 5686.6 6301.4 7548.7 29

30 Miscellaneous assets 328.3 338.9 351.5 360.8 372.6 378.7 397.8 444.9 501.3 553.8 30

31 Liabilities 5043.3 5405.7 5757.2 6199.6 6755.9 7352.9 7976.2 8759.2 9822.2 10993.3 31

32 Credit market instruments 4846.1 5183.8 5489.4 5902.9 6377.6 6963.5 7627.8 8439.1 9462.0 10533.5 32

33 Home mortgages (8) 3318.9 3537.0 3752.9 4054.0 4430.8 4814.0 5320.9 6025.6 6907.0 7855.8 33

34 Consumer credit 1168.2 1273.9 1344.2 1441.3 1553.6 1741.3 1891.8 1997.0 2102.9 2220.1 34

35 Municipal securities (9) 96.4 102.4 109.6 121.3 131.7 137.5 151.3 163.9 177.7 197.6 35

36 Depository institution loans n.e.c. 52.6 42.5 51.0 45.0 22.4 18.8 2.2 -21.4 -4.4 -24.0 36

37 Other loans and advances 108.4 122.3 123.0 122.6 117.8 119.1 120.0 120.2 118.7 119.0 37

38 Commercial mortgages (9) 101.6 105.7 108.8 118.7 121.2 132.8 141.7 153.8 160.1 165.0 38

39 Security credit 78.6 94.4 131.2 152.8 227.9 235.1 196.4 148.2 182.5 264.0 39

40 Trade payables (9) 101.1 109.1 118.0 126.8 130.9 134.7 132.9 152.0 156.8 173.3 40

 Deferred and unpaid

41 life insurance premiums 17.5 18.3 18.6 17.2 19.4 19.6 19.1 20.0 20.9 22.5 41

42 Net worth 28212.1 30106.3 33965.9 37916.2 43022.1 43278.6 43131.6 42081.3 48018.0 54870.5 42

 Memo:

 Replacement-cost value of structures:

43 Residential 6091.0 6451.9 6826.4 7296.5 7882.7 8469.2 9147.6 9779.4 10679.9 12030.3 43

44 Households 5975.2 6333.0 6702.5 7166.4 7746.6 8326.5 8997.2 9622.3 10513.7 11848.9 44

45 Nonprofit organizations 115.8 118.9 124.0 130.1 136.2 142.8 150.3 157.1 166.1 181.4 45

46 Nonresidential (nonprofits) 600.0 628.1 669.9 716.9 766.0 819.4 871.5 915.6 965.5 1073.5 46

47 Disposable personal income (SAAR) 5457.0 5759.6 6074.6 6498.9 6803.3 7327.2 7648.5 8009.7 8377.8 8889.4 47

 Household net worth as percentage of

48 disposable personal income (SAAR) 517.0 522.7 559.1 583.4 632.4 590.7 563.9 525.4 573.2 617.3 48

 Owners’ equity in household real

49 estate (10) 4736.4 4894.9 5112.1 5640.3 6214.5 7377.1 8245.1 8824.0 9545.1 11097.1 49

 Owners’ equity as percentage of

50 household real estate (11) 58.8 58.1 57.7 58.2 58.4 60.5 60.8 59.4 58.0 58.6 50

(1) Sector includes domestic hedge funds, private equity funds, and personal trusts.

(2) At market value.

(3) All types of owner-occupied housing including farm houses and mobile homes, as well as second homes that are not rented, vacant homes for sale, and vacant land.

(4) At replacement (current) cost.

(5) Syndicated loans to nonfinancial corporate business by nonprofits and domestic hedge funds.

(6) Value based on the market values of equities held and the book value of other assets held by mutual funds.

(7) Net worth of nonfinancial noncorporate business (table B.103, line 32) and owners’ equity in unincorporated security brokers and dealers.

(8) Includes loans made under home equity lines of credit and home equity loans secured by junior liens, shown on table L.218, line 23.

(9) Liabilities of nonprofit organizations.

(10) Line 4 less line 33.

(11) Line 49 divided by line 4.
FFA, 1995-2004, December 6, 2012 105

B.102 Balance Sheet of Nonfinancial Corporate Business

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 With nonfinancial assets stated at either market value or replacement cost:

 1 Assets 11615.3 12321.7 13694.1 15323.1 17050.8 19660.0 19761.2 20205.2 20795.9 23066.4 1

 2 Nonfinancial assets 6639.9 6849.2 7875.8 8498.3 8956.7 9897.6 9871.4 10258.1 10672.5 12121.8 2

 3 Real estate (1) 3221.9 3270.9 4124.6 4585.5 4786.0 5439.5 5377.7 5695.7 6012.0 7206.5 3

 4 Equipment and software (2) 2339.0 2473.8 2603.5 2739.2 2913.0 3118.9 3221.1 3256.0 3310.4 3439.2 4

 5 Inventories (2) 1079.0 1104.5 1147.7 1173.6 1257.8 1339.2 1272.6 1306.4 1350.1 1476.1 5

 6 Financial assets 4975.4 5472.5 5818.3 6824.8 8094.1 9762.4 9889.9 9947.0 10123.4 10944.6 6

 7 Foreign deposits 17.4 28.2 23.1 30.5 31.5 24.0 15.5 20.6 38.1 53.7 7

 8 Checkable deposits and currency 206.7 189.0 177.7 161.8 191.3 226.4 172.5 160.2 204.2 207.2 8

 9 Time and savings deposits 99.7 129.7 164.4 192.6 236.9 272.3 281.1 291.3 362.8 400.5 9

10 Money market fund shares 60.0 94.6 118.8 161.7 196.8 213.9 314.1 319.7 289.3 299.6 10

11 Security RPs 2.4 3.9 4.6 4.2 5.8 4.2 4.0 6.2 6.0 6.4 11

12 Commercial paper 20.1 31.5 36.1 39.4 47.6 57.8 60.2 64.8 75.7 95.0 12

13 Treasury securities 57.1 47.1 26.8 23.6 19.4 18.1 16.9 31.4 33.7 34.0 13

14 Agency- and GSE-backed securities 23.4 28.5 8.0 10.6 12.4 15.4 17.5 16.9 11.2 11.3 14

15 Municipal securities 36.8 31.0 27.4 25.7 25.0 31.9 29.3 32.1 35.4 31.8 15

16 Mortgages 57.9 54.4 80.2 67.3 41.2 43.5 46.6 49.6 51.8 66.6 16

17 Consumer credit 85.1 77.7 84.4 79.3 76.1 81.5 73.1 74.8 59.1 59.2 17

18 Trade receivables 1184.9 1273.1 1361.1 1448.4 1657.6 1939.2 1817.9 1719.5 1701.8 1830.6 18

19 Mutual fund shares (1) 45.7 62.6 74.5 97.6 127.3 118.0 109.0 90.9 114.9 125.6 19

20 Miscellaneous assets 3078.2 3421.2 3631.1 4481.9 5425.2 6716.1 6932.2 7069.1 7139.5 7723.1 20

21 Liabilities 6023.1 6393.6 6645.4 7476.1 8427.2 9632.3 9833.2 9950.0 9894.7 10381.8 21

22 Credit market instruments 3106.1 3279.1 3588.3 3979.7 4391.9 4766.4 4979.9 5037.5 5137.8 5389.1 22

23 Commercial paper 157.4 156.4 168.6 193.0 230.3 278.4 177.7 119.8 82.5 97.8 23

24 Municipal securities (3) 134.8 137.9 142.0 147.8 152.8 154.2 157.7 160.6 163.9 185.4 24

25 Corporate bonds (4) 1507.4 1619.3 1779.6 1997.2 2207.9 2375.8 2721.9 2858.7 3014.2 3101.9 25

26 Depository institution loans n.e.c. 628.9 659.8 714.7 796.6 845.4 900.4 796.8 693.4 614.1 618.0 26

27 Other loans and advances 467.2 484.8 534.9 595.0 623.1 700.9 703.0 734.9 742.2 793.3 27

28 Mortgages 210.4 221.0 248.6 250.2 332.4 356.8 422.7 470.0 521.0 592.6 28

29 Trade payables 878.6 928.3 993.6 1051.2 1229.8 1542.4 1438.8 1458.6 1403.9 1501.6 29

30 Taxes payable 40.3 49.9 59.2 64.1 71.0 78.0 81.0 93.0 81.2 88.0 30

31 Miscellaneous liabilities 1998.1 2136.3 2004.2 2381.1 2734.5 3245.5 3333.4 3361.0 3271.8 3403.1 31

32 Net worth (market value) 5592.2 5928.1 7048.7 7847.0 8623.6 10027.7 9928.0 10255.1 10901.2 12684.7 32

 Memo:

 Replacement-cost value of structures:

33 Residential 75.2 78.8 84.2 90.2 95.6 101.9 108.6 115.1 122.9 136.0 33

34 Nonresidential 3035.7 3177.3 3361.4 3544.0 3718.2 3975.0 4241.8 4463.6 4634.4 5119.7 34

35 Market value of equities outstanding 6406.8 6804.3 8674.5 10962.3 14476.8 12444.5 10868.6 8212.3 10845.2 12088.6 35

36 Debt/net worth (percent) (5) 55.5 55.3 50.9 50.7 50.9 47.5 50.2 49.1 47.1 42.5 36

37 Debt/equities (percent) (6) 48.5 48.2 41.4 36.3 30.3 38.3 45.8 61.3 47.4 44.6 37

38 Equities/net worth (percent) (7) 114.6 114.8 123.1 139.7 167.9 124.1 109.5 80.1 99.5 95.3 38

 With nonfinancial assets stated at historical cost:

39 Assets (8) 10004.1 10793.4 11454.0 12799.6 14446.8 16558.8 16922.7 17166.8 17540.0 18680.2 39

40 Nonfinancial assets 5028.7 5320.9 5635.8 5974.8 6352.7 6796.4 7032.8 7219.8 7416.6 7735.6 40

41 Real estate 2029.4 2123.8 2228.8 2353.7 2474.7 2629.7 2796.5 2914.3 3026.3 3152.2 41

42 Equipment and software 1967.8 2129.4 2308.0 2483.7 2679.2 2896.5 3026.8 3073.8 3121.1 3193.8 42

43 Inventories 1031.5 1067.7 1099.0 1137.3 1198.8 1270.2 1209.5 1231.6 1269.2 1389.6 43

44 Net worth (historical cost) (9) 3981.0 4399.8 4808.7 5323.5 6019.6 6926.5 7089.5 7216.8 7645.3 8298.5 44

 Memo:

 Historical-cost value of structures:

45 Residential 31.2 32.9 35.3 37.6 40.4 43.7 47.1 50.7 54.8 59.2 45

46 Nonresidential 1708.0 1803.5 1906.0 2023.0 2140.7 2281.3 2424.2 2531.3 2637.9 2747.8 46

47 Debt/net worth (percent) (10) 78.0 74.5 74.6 74.8 73.0 68.8 70.2 69.8 67.2 64.9 47

 (1) At market value.

 (2) At replacement (current) cost.

 (3) Industrial revenue bonds. Issued by state and local governments to finance private investment and secured in interest and principal by the industrial user of the funds.

 (4) Through 1992, corporate bonds include net issues by Netherlands Antillean financial subsidiaries, and U.S. direct investment abroad excludes net inflows from those bond issues.

 (5) Line 22 divided by line 32.

 (6) Line 22 divided by line 35.

 (7) Line 35 divided by line 32.

 (8) Sum of lines 6 and 40.

 (9) Line 39 less line 21.

 (10) Line 22 divided by line 44.
106 FFA, 1995-2004, December 6, 2012

B.103 Balance Sheet of Nonfinancial Noncorporate Business

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Assets 5083.8 5339.0 5974.3 6530.4 7096.4 7921.6 8342.8 8893.8 9570.4 11174.8 1

 2 Nonfinancial assets 4491.3 4651.8 5156.1 5489.5 5870.5 6448.9 6713.3 7185.6 7781.8 9015.3 2

 3 Real estate (1) 3961.0 4067.0 4554.3 4885.9 5243.8 5790.3 6046.0 6492.8 7058.0 8252.1 3

 4 Residential 2393.4 2477.1 2695.5 2879.6 3151.9 3482.3 3736.0 4109.4 4519.3 5249.7 4

 5 Nonresidential 1567.7 1589.9 1858.8 2006.3 2091.9 2308.0 2310.0 2383.4 2538.7 3002.4 5

 6 Equipment and software (2) 386.8 404.7 419.7 435.6 451.7 473.8 492.6 510.1 528.2 557.9 6

 7 Residential (3) 31.8 32.7 32.6 33.1 33.9 35.5 36.8 37.6 37.9 39.5 7

 8 Nonresidential 355.0 372.0 387.1 402.5 417.8 438.4 455.8 472.4 490.3 518.4 8

 9 Inventories (2) 143.4 180.1 182.1 168.0 174.9 184.8 174.7 182.7 195.6 205.4 9

10 Financial assets 592.5 687.2 818.2 1040.9 1225.9 1472.7 1629.5 1708.2 1788.6 2159.4 10

11 Checkable deposits and currency 119.8 139.0 161.3 167.5 172.6 181.0 181.8 184.5 190.6 297.5 11

12 Time and savings deposits 71.5 75.0 85.7 126.5 179.5 247.6 254.7 269.2 313.8 300.6 12

13 Money market fund shares 17.0 19.2 22.9 32.6 40.7 49.4 59.0 61.3 63.6 66.5 13

14 Credit market instruments 47.6 51.6 54.2 67.1 64.0 66.0 73.1 72.4 73.9 85.4 14

15 Treasury securities 23.6 28.6 32.2 38.0 37.2 40.2 42.8 42.8 44.9 50.2 15

16 Municipal securities 2.2 2.6 3.2 2.8 2.7 2.4 3.5 3.4 2.7 4.3 16

17 Mortgages 21.7 20.4 18.7 26.3 24.1 23.4 26.8 26.2 26.3 30.8 17

18 Consumer credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

19 Trade receivables 140.3 169.8 204.9 233.1 272.6 342.1 343.9 362.8 337.7 364.3 19

20 Miscellaneous assets 196.3 232.6 289.2 414.1 496.6 586.5 717.0 758.0 809.0 1045.1 20

21 Insurance receivables 71.5 72.5 73.2 76.2 77.3 77.2 80.0 84.5 89.2 93.7 21

22 Equity investment in GSEs (4) 2.9 3.0 3.0 3.0 3.0 3.1 3.5 3.6 4.2 4.2 22

23 Other 121.9 157.1 213.0 334.9 416.3 506.2 633.5 670.0 715.7 947.1 23

24 Liabilities 1519.6 1654.7 1848.8 2153.8 2464.9 2796.1 3014.1 3212.2 3282.0 3637.2 24

25 Credit market instruments 1174.6 1245.1 1347.1 1526.1 1719.9 1912.3 2075.7 2227.6 2301.4 2556.1 25

26 Depository institution loans n.e.c. 200.6 229.8 276.6 302.1 351.7 402.1 445.6 469.3 479.7 512.6 26

27 Other loans and advances 104.1 105.1 109.4 115.1 121.2 128.7 125.1 127.7 127.1 128.3 27

28 Mortgages 869.9 910.1 961.1 1108.8 1246.9 1381.5 1505.0 1630.6 1694.7 1915.2 28

29 Trade payables 96.7 128.5 160.4 190.8 225.2 266.7 262.0 287.4 261.2 284.9 29

30 Taxes payable 33.4 35.7 39.9 44.1 53.0 64.6 68.7 70.2 69.7 78.0 30

31 Miscellaneous liabilities 214.8 245.5 301.3 392.9 466.8 552.4 607.7 627.0 649.7 718.2 31

32 Net worth (5) 3564.2 3684.3 4125.5 4376.5 4631.5 5125.5 5328.8 5681.6 6288.4 7537.6 32

 Memo:

 Replacement-cost value of structures:

33 Residential 1619.0 1685.8 1767.3 1861.8 1958.4 2057.1 2163.8 2261.3 2392.8 2614.5 33

34 Nonresidential 807.7 833.5 871.6 918.2 964.5 1019.9 1072.2 1116.2 1151.8 1259.4 34

35 Debt/net worth (percent) (6) 33.0 33.8 32.7 34.9 37.1 37.3 39.0 39.2 36.6 33.9 35

(1) At market value.

(2) At replacement (current) cost.

(3) Durable goods in rental properties.

(4) Equity in the Farm Credit System.

(5) Line 1 less line 24. Included in table B.100, line 29.

(6) Line 25 divided by line 32.
FFA, 1995-2004, December 6, 2012 107

R.100 Change in Net Worth of Households and Nonprofit Organizations

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Change in net worth (1) 2674.6 1894.3 3859.5 3950.3 5105.8 256.6 -147.1 -1050.3 5936.7 6852.5 1

 2 Net investment 381.8 439.8 417.2 506.2 290.1 66.6 402.1 289.5 545.2 696.5 2

 3 Net physical investment 267.2 309.8 344.1 420.3 489.4 523.8 533.3 568.7 617.2 705.4 3

 4 Capital expenditures 876.0 943.8 1003.3 1109.2 1217.7 1305.2 1363.2 1440.7 1534.9 1686.7 4

 5 - Consumption of fixed capital 608.8 634.0 659.2 688.9 728.3 781.3 829.9 871.9 917.7 981.2 5

 6 Net lending (+) or net borrowing (-) 114.6 130.0 73.1 85.9 -199.3 -457.2 -131.2 -279.2 -72.0 -9.0 6

 7 Net acquisition of financial assets 445.8 479.4 424.1 529.6 356.6 130.0 493.0 503.8 960.9 1141.8 7

 8 - Net increase in liabilities 331.2 349.4 351.0 443.7 555.9 587.2 624.2 783.1 1032.9 1150.8 8

 Holding gains on assets

 9 at market value (2) 2270.6 1402.1 3475.6 3467.3 4776.8 299.2 -498.9 -1392.1 5261.9 5380.4 9

10 Real estate 141.0 191.6 417.4 695.6 752.9 1427.9 1087.3 1070.5 1339.6 2380.0 10

11 Corporate equities 1212.1 435.1 1650.6 1647.7 2409.5 -985.4 -826.1 -1500.6 1722.8 959.2 11

12 Mutual fund shares 106.4 152.2 197.8 218.9 435.3 -266.1 -228.8 -474.5 427.7 345.1 12

13 Equity in noncorporate business 160.4 120.0 461.5 281.9 313.4 493.4 182.4 380.8 514.1 1123.5 13

14 Life insurance and pension fund reserves 650.6 503.2 748.3 623.3 865.8 -370.7 -713.7 -868.4 1257.7 572.6 14

15 Equity investment under PPIP 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 Holding gains on assets

16 at current cost (2) 10.9 -12.8 -39.6 -54.2 -56.5 -34.9 -67.7 -74.3 -81.8 -33.0 16

17 Consumer durable goods 10.6 -11.5 -37.6 -52.8 -56.5 -36.3 -69.1 -77.9 -85.2 -37.6 17

18 Equipment and software 0.3 -1.3 -2.0 -1.5 0.0 1.4 1.3 3.6 3.4 4.6 18

19 Other volume changes (3) 11.3 65.2 6.3 31.1 95.4 -74.4 17.5 126.6 211.4 808.6 19

 Memo:

20 Net worth outstanding (4) 28212.1 30106.3 33965.9 37916.2 43022.1 43278.6 43131.6 42081.3 48018.0 54870.5 20

21 Disposable personal income 5457.0 5759.6 6074.6 6498.9 6803.3 7327.2 7648.5 8009.7 8377.8 8889.4 21

(1) Sum of net investment (line 2), holding gains (lines 9 and 16), and other volume changes (line 19).

(2) Calculated as change in amount outstanding less net purchases during period less disaster-related losses to fixed assets.

(3) Consists of statistical discontinuities and disaster-related losses to fixed assets. Also includes the difference between series for consumption of fixed capital published by BEA.

(4) Table B.100, line 42.
108 FFA, 1995-2004, December 6, 2012

R.102 Change in Net Worth of Nonfinancial Corporate Business

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Change in net worth (1) 433.4 335.9 1120.6 798.3 776.6 1404.1 -99.7 327.1 646.1 1783.5 1

 2 Net investment 213.9 217.9 182.4 23.3 203.0 226.4 215.6 146.7 154.8 240.2 2

 3 Net physical investment 239.6 215.7 280.0 288.1 336.3 378.2 184.8 110.1 120.3 196.9 3

 4 Capital expenditures 628.2 652.5 759.8 802.0 870.0 949.8 823.2 760.6 777.0 856.8 4

 5 - Consumption of fixed capital 406.9 433.8 465.7 498.2 537.7 588.5 630.4 653.0 668.0 694.1 5

 6 - Inventory valuation adjustment -18.3 3.1 14.1 15.7 -4.0 -16.8 8.0 -2.6 -11.3 -34.3 6

 7 Net lending (+) or net borrowing (-) 32.6 49.6 -20.2 -49.3 -23.0 -33.5 79.0 52.8 74.1 166.0 7

 8 Net acquisition of financial assets 424.7 449.5 264.8 568.7 966.1 1204.9 176.9 141.2 87.6 780.1 8

 9 - Net increase in liabilities 392.1 399.9 285.0 617.9 989.1 1238.4 98.0 88.3 13.5 614.1 9

10 Net corporate equity issues -58.3 -47.3 -77.4 -215.5 -110.4 -118.2 -48.1 -16.2 -39.6 -122.7 10

 Holding gains on assets

11 at market value (2) 77.4 1.3 807.8 396.8 143.0 536.7 -185.2 242.4 281.2 1152.7 11

12 Real estate 67.4 -6.5 797.6 388.2 123.1 546.3 -171.8 260.3 263.1 1140.8 12

13 Mutual fund shares 10.0 7.8 10.2 8.6 19.8 -9.6 -13.4 -17.9 18.2 11.9 13

 Holding gains on assets less

14 liabilities at current cost (2) 43.2 34.8 -6.8 15.9 107.7 -38.3 37.3 103.7 45.1 189.4 14

15 Equipment and software 33.3 -1.0 -29.2 -28.6 -10.3 5.3 -10.2 6.7 29.5 86.9 15

16 Inventories (3) 5.5 6.7 -7.3 -17.8 20.1 11.6 -22.1 17.7 16.9 37.4 16

17 Direct investment abroad 2.8 11.0 -17.6 -21.3 9.0 -37.1 14.4 -9.0 7.9 77.2 17

18 - Foreign direct investment in U.S. -1.6 -18.0 -47.4 -83.6 -88.9 18.1 -55.3 -88.2 9.2 12.1 18

19 Other volume changes (4) 99.0 81.9 137.3 362.3 322.9 679.2 -167.5 -165.6 165.0 201.1 19

 Memo:

20 Net worth outstanding (5) 5592.2 5928.1 7048.7 7847.0 8623.6 10027.7 9928.0 10255.1 10901.2 12684.7 20

(1) Sum of net investment (line 2), holding gains (lines 11 and 14), and other volume changes (line 19).

(2) Calculated as change in amount outstanding less net purchases during period less disaster-related losses to fixed assets.

(3) Before inventory valuation adjustment.

(4) Consists of statistical discontinuities and disaster-related losses to fixed assets.

(5) Table B.102, line 32.
FFA, 1995-2004, December 6, 2012 109

R.103 Change in Net Worth of Nonfinancial Noncorporate Business

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Change in net worth (1) 183.6 120.1 441.3 251.0 255.0 494.0 203.3 352.8 606.8 1249.1 1

 2 Net capital transfers paid -0.4 0.0 0.0 0.0 -0.4 0.0 -1.3 0.0 0.0 -5.0 2

 3 Net investment 24.3 0.9 -18.4 -29.4 -57.3 0.9 20.0 -29.9 104.1 133.0 3

 4 Net physical investment 21.3 40.5 45.3 53.7 68.7 85.7 80.8 89.2 93.8 117.8 4

 5 Capital expenditures 126.5 149.6 158.6 171.8 190.9 212.1 210.0 220.2 228.0 258.1 5

 6 - Consumption of fixed capital 105.3 109.1 113.3 118.1 122.2 126.4 129.2 131.0 134.1 140.3 6

 7 Net lending (+) or net borrowing (-) -20.9 -40.5 -45.3 -53.7 -68.3 -85.7 -79.5 -89.2 -93.8 -112.8 7

 8 Net acquisition of financial assets 76.2 94.7 131.0 222.6 185.0 246.8 156.9 78.6 80.4 370.8 8

 9 - Net increase in liabilities 97.1 135.2 176.3 276.3 253.3 332.5 236.4 167.8 174.3 483.6 9

10 Proprietor’s net investment (2) 23.9 0.9 -18.4 -29.4 -57.7 0.9 18.7 -29.9 104.1 128.0 10

11 Holding gains on real estate (3) 142.7 85.5 462.4 302.1 319.4 502.2 212.2 407.7 527.4 1156.6 11

12 Residential 95.1 66.8 199.9 168.7 251.2 308.3 235.1 351.8 382.8 705.4 12

13 Nonresidential 47.6 18.7 262.5 133.3 68.3 193.9 -22.9 55.9 144.6 451.2 13

14 Holding gains on assets at current cost (3) 15.1 34.6 -3.4 -22.3 -6.3 -9.4 -28.0 -24.6 -25.0 -34.3 14

15 Residential equipment and software 0.0 0.4 -0.4 -0.2 -0.4 0.2 -0.0 -0.5 -1.3 -0.4 15

16 Nonresidential equipment and software 10.4 6.3 1.5 -3.8 -12.1 -17.9 -19.7 -33.6 -35.7 -33.2 16

17 Inventories 4.6 27.8 -4.4 -18.3 6.2 8.3 -8.2 9.5 12.0 -0.8 17

18 Other volume changes (4) 1.8 -0.9 0.7 0.6 -0.4 0.4 0.4 -0.4 0.4 -1.2 18

 Memo:

19 Net worth outstanding (5) 3564.2 3684.3 4125.5 4376.5 4631.5 5125.5 5328.8 5681.6 6288.4 7537.6 19

(1) Sum of net capital transfers paid (line 2), net investment (line 3), holding gains (lines 11 and 14), and other volume changes (line 18).

(2) Shown on table F.103, line 30.

(3) Calculated as change in amount outstanding less net investment during period less disaster-related losses to fixed assets.

(4) Consists of statistical discontinuities and disaster-related losses to fixed assets.

(5) Table B.103, line 32.
110 FFA, 1995-2004, December 6, 2012

B.100.e Balance Sheet of Households and Nonprofit Organizations with Equity Detail (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Assets 33255.4 35512.0 39723.0 44115.8 49777.9 50631.6 51107.7 50840.5 57840.2 65863.8 1

 2 Nonfinancial assets 11472.3 11964.0 12693.3 13760.5 14945.9 16861.1 18411.3 19974.5 21847.4 24885.3 2

 3 Financial assets 21783.1 23548.0 27029.8 30355.4 34832.0 33770.5 32696.5 30866.0 35992.8 40978.5 3

 4 Deposits 3399.5 3539.1 3707.3 3934.6 4116.0 4439.9 4960.9 5228.3 5436.4 5816.2 4

 5 Credit market instruments 2379.7 2545.0 2501.4 2554.6 2670.9 2563.6 2460.1 2596.0 2842.4 3876.1 5

 6 Equity shares at market value 7656.5 8701.4 11204.3 13577.6 17203.1 15350.5 13474.3 10596.1 14123.3 15985.3 6

 7 Directly held 4434.2 4712.2 6144.1 7506.8 9763.0 8140.2 6825.9 5163.5 6788.0 7479.1 7

 8 Indirectly held 3222.4 3989.1 5060.1 6070.8 7440.1 7210.3 6648.4 5432.6 7335.3 8506.2 8

 9 Life insurance companies 274.7 373.3 510.5 665.4 904.4 882.8 806.5 692.5 887.3 1028.9 9

10 Private pension funds 1504.8 1724.4 2089.0 2462.4 2812.6 2871.2 2611.9 2200.4 2900.1 3287.8 10

11 Defined benefit plans 726.7 821.4 926.6 1057.8 1154.3 1248.0 1184.6 1031.1 1300.2 1452.9 11

12 Defined contribution plans 778.1 902.9 1162.4 1404.7 1658.3 1623.2 1427.3 1169.3 1599.9 1835.0 12

13 State and local govt. retirement funds 738.3 892.5 1114.4 1268.4 1512.5 1428.5 1386.6 1157.4 1557.3 1761.2 13

14 Federal government retirement funds 11.5 18.8 29.9 43.0 56.9 56.6 49.1 45.7 79.2 97.7 14

15 Mutual funds 693.2 980.2 1316.3 1631.6 2153.6 1971.2 1794.3 1336.6 1911.4 2330.6 15

16 Other 8347.4 8762.6 9616.8 10288.6 10842.0 11416.4 11801.2 12445.6 13590.8 15300.9 16

17 Liabilities 5043.3 5405.7 5757.2 6199.6 6755.9 7352.9 7976.2 8759.2 9822.2 10993.3 17

18 Net worth 28212.1 30106.3 33965.9 37916.2 43022.1 43278.6 43131.6 42081.3 48018.0 54870.5 18

 Memo:

19 Equity shares excluding defined benefit plans 6191.6 6987.4 9163.3 11251.4 14536.3 12673.9 10903.1 8400.9 11248.8 12753.4 19

 (line 6 minus lines 11, 13 and part of line 14)

 Equity shares (line 6) as a percent of

20 Total assets (line 1) 23.0 24.5 28.2 30.8 34.6 30.3 26.4 20.8 24.4 24.3 20

21 Financial assets (line 3) 35.1 37.0 41.5 44.7 49.4 45.5 41.2 34.3 39.2 39.0 21

(1) Estimates of equity shares (lines 7 through 15) could differ from other sources owing to alternative definitions of ownership of equity by households.

 Prior to 1985, all pension assets are assumed to have been in defined benefit plans.
FFA, 1995-2004, December 6, 2012 111

F.105.c Consolidated Statement for Federal, State, and Local Governments

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Current receipts, NIPA basis 2215.5 2380.4 2557.2 2729.8 2902.5 3132.4 3118.2 2967.9 3043.4 3265.7 1

 2 Personal current taxes 743.9 832.0 926.2 1026.4 1107.5 1232.3 1234.8 1050.4 1000.3 1047.8 2

 3 Taxes on production and imports 557.9 580.8 611.6 639.5 673.6 708.6 727.7 762.8 806.8 863.4 3

 4 Taxes on corporate income 211.0 223.6 237.1 239.2 248.8 254.7 193.5 181.3 231.8 292.0 4

 5 Taxes from the rest of the world 3.9 5.2 5.1 5.7 5.9 7.3 7.7 7.6 9.0 10.0 5

 6 Contributions for govt. social insurance 535.5 557.9 590.3 627.8 664.6 709.4 736.9 755.2 782.8 831.7 6

 7 Income receipts on assets 91.8 99.9 103.6 102.7 106.4 118.8 114.6 99.9 96.8 100.3 7

 8 Current transfer receipts 58.4 66.8 69.3 75.3 81.7 92.3 98.9 104.3 108.9 119.3 8

 9 Current surplus of government enterprises 13.1 14.4 14.1 13.3 14.1 9.1 4.0 6.3 7.0 1.2 9

10 Current expenditures, NIPA basis 2412.5 2505.7 2581.1 2649.3 2761.9 2906.0 3093.6 3274.7 3458.6 3653.6 10

11 Consumption expenditures 1141.4 1176.7 1222.1 1263.2 1343.9 1426.6 1524.4 1639.9 1756.8 1860.4 11

12 Government social benefits 867.0 908.8 937.6 960.1 996.1 1049.2 1150.8 1257.6 1326.1 1409.2 12

13 Other current transfer payments 15.4 20.4 17.0 18.0 18.7 22.3 18.2 23.3 28.6 30.9 13

14 Interest payments 353.9 364.6 370.6 371.6 357.9 362.0 341.5 312.6 298.0 306.6 14

15 Subsidies 34.8 35.2 33.8 36.4 45.2 45.8 58.7 41.4 49.1 46.4 15

16 - Wage accruals less disbursements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

17 Net saving, NIPA basis -197.0 -125.3 -23.8 80.5 140.6 226.5 24.6 -306.9 -415.2 -387.8 17

18 + Consumption of fixed capital 164.8 169.2 174.1 179.0 187.2 197.5 204.6 210.9 218.1 231.9 18

19 - Insurance and pension fund reserves (1) 3.6 3.4 3.4 4.4 3.8 1.8 3.3 -1.7 -0.6 0.0 19

20 - Contr. for govt. soc. insur., U.S.-affiliated areas 2.7 2.8 3.0 3.1 3.3 3.6 3.7 3.8 3.9 4.4 20

21 - Net capital transfers (2) -19.4 -22.9 -26.6 -32.1 -32.2 -35.3 -37.1 -28.5 -10.8 -8.6 21

22 = Gross saving less net capital transfers -19.1 60.6 170.4 284.1 352.9 453.9 259.3 -69.4 -189.6 -151.7 22

23 Gross investment 67.0 85.7 218.7 358.7 441.5 545.3 297.8 -33.4 -214.6 -97.3 23

24 Fixed investment 232.6 244.2 252.4 262.9 287.4 304.3 322.0 343.5 355.8 372.4 24

25 Nonproduced nonfinancial assets -0.8 2.2 -1.8 1.8 8.3 8.4 9.5 11.5 11.2 11.4 25

26 Net lending (+) or net borrowing (-) -164.7 -160.8 -31.9 94.0 145.9 232.6 -33.7 -388.4 -581.6 -481.0 26

27 Net acquisition of financial assets 40.9 73.0 108.0 115.8 150.5 1.1 133.4 58.2 68.7 90.0 27

28 U.S. official reserve assets 6.4 -2.9 2.5 6.0 -7.1 -0.7 4.6 3.4 -1.8 -3.1 28

29 Checkable deposits and currency 3.4 5.4 3.8 -20.6 70.1 -64.9 45.1 -12.0 16.2 -37.8 29

30 Time and savings deposits 6.9 12.0 6.8 16.1 14.7 11.6 16.2 25.9 -4.9 11.6 30

31 Money market fund shares 4.8 1.4 3.6 31.1 4.5 2.7 3.2 1.6 5.9 14.0 31

32 Security RPs -3.0 32.1 3.6 4.2 -2.5 -10.3 -10.9 -16.3 3.2 8.3 32

33 Credit market instruments -35.9 7.8 24.0 73.7 84.1 72.9 79.2 67.3 29.6 82.9 33

34 Open market paper 17.1 20.3 14.3 12.8 17.5 15.2 17.5 14.3 2.9 8.0 34

35 Agency- and GSE-backed securities (3) -35.1 -35.3 -0.8 38.7 44.2 41.4 47.3 41.7 16.7 41.6 35

36 Municipal securities -3.5 -0.5 -0.7 -0.7 0.3 0.2 0.2 0.1 0.5 1.2 36

37 Corporate and foreign bonds 7.1 10.7 1.3 11.4 11.6 9.8 11.3 9.1 5.4 13.4 37

38 Mortgages -10.2 -3.4 -0.9 5.2 4.4 -2.1 -1.9 -4.8 4.3 18.4 38

39 Consumer credit 2.3 8.5 10.0 8.9 11.5 11.7 12.8 8.0 1.9 3.7 39

40 Other loans and advances (4) -13.6 7.5 0.8 -2.6 -5.4 -3.1 -7.9 -1.2 -2.1 -3.3 40

41 Corporate equities 12.1 14.5 16.8 -8.8 -21.7 6.1 4.1 10.3 -19.6 -5.4 41

42 Mutual fund shares -3.6 -0.6 -18.2 -13.2 -8.1 1.2 0.4 2.1 -5.2 0.0 42

43 Trade receivables 4.5 6.5 3.1 8.5 13.3 10.2 13.3 -0.7 16.6 5.8 43

44 Taxes receivable -7.4 2.1 -6.0 -4.4 10.9 -10.8 -8.8 -0.3 34.4 33.6 44

45 Miscellaneous assets 52.7 -5.3 68.1 23.2 -7.7 -17.0 -13.1 -23.1 -5.7 -19.8 45

46 Net increase in liabilities 205.6 233.8 139.9 21.8 4.5 -231.5 167.1 446.6 650.3 571.1 46

47 SDR allocations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 47

48 SDR certificates 2.2 -0.5 -0.5 0.0 -3.0 -4.0 0.0 0.0 0.0 0.0 48

49 Treasury currency 0.7 0.5 0.5 0.6 1.0 2.4 1.3 1.0 0.6 0.7 49

50 Credit market instruments 163.7 162.0 86.4 -27.4 -56.1 -284.8 81.3 375.2 506.3 464.4 50

51 Savings bonds 5.1 2.0 -0.5 0.1 -0.2 -1.7 5.6 4.5 8.9 0.6 51

52 Treasury bills and other Treasury securities (4) 218.1 177.3 41.4 -96.2 -94.6 -298.7 -29.1 226.3 379.3 315.3 52

53 Budget agency securities 1.5 -1.6 -0.1 2.0 -0.2 -1.0 -0.5 0.5 -2.4 -0.6 53

54 Municipal securities -60.9 -15.7 45.6 66.7 38.9 16.5 105.4 143.9 120.5 149.2 54

55 Multifamily residential mortgages 0.0 -0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 55

56 Trade payables 12.7 19.3 11.3 13.2 23.0 30.6 30.1 29.3 100.6 45.6 56

57 Insurance reserves 1.0 0.6 1.7 1.3 1.4 1.4 1.4 1.6 1.1 1.1 57

58 Miscellaneous liabilities (5) 25.3 51.8 40.6 34.1 38.2 22.9 53.0 39.5 41.7 59.3 58

59 Discrepancy -86.1 -25.1 -48.3 -74.5 -88.7 -91.4 -38.5 -36.0 25.0 -54.4 59

 Memo:

60 Net govt. saving less fixed investment (6) -429.6 -369.5 -276.2 -182.4 -146.7 -77.9 -297.5 -650.3 -771.0 -760.2 60

61 Adjustment between NIPA and FOF (7) 264.8 208.7 244.3 276.4 292.7 310.5 263.8 261.9 189.4 279.1 61

62 Items to be financed (8) -164.7 -160.8 -31.9 94.0 145.9 232.6 -33.7 -388.4 -581.6 -481.0 62

(1) Railroad Retirement Board, the National Railroad Retirement Investment Trust, and federal government life insurance reserves. Saving transferred to the households and nonprofit organizations sector.

 Includes value of Treasury and agency- and GSE-backed securities held by state and local government employee retirement funds.

(2) Table F.9, line 60 less line 12.

(3) Holdings by state and local governments may include small amounts of budget agency securities issued by the federal government.

(4) Excludes transactions with state and local governments.

(5) Includes nonmarketable government securities held by the civil service retirement and disability fund, Railroad Retirement Board, judicial retirement fund, military

 retirement fund, and foreign service retirement and disability fund.

(6) Line 17 less line 24.

(7) Line 18 less the sum of lines 19, 20, 21, 25, and 59.

(8) Line 60 plus line 61.
112 FFA, 1995-2004, December 6, 2012

L.105.c Consolidated Statement for Federal, State, and Local Governments

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 1253.9 1412.3 1553.5 1699.8 1904.3 1912.9 2043.4 2088.5 2154.4 2284.3 1

 2 U.S. official reserve assets 53.8 44.9 42.0 51.0 44.5 41.1 43.2 51.1 55.2 54.5 2

 3 Checkable deposits and currency 60.9 71.5 79.1 56.8 125.5 62.0 108.5 94.4 107.9 68.9 3

 4 Time and savings deposits 62.9 74.9 81.8 97.9 112.5 124.1 140.3 166.3 161.4 173.0 4

 5 Money market fund shares 10.7 12.0 15.6 46.7 51.2 53.9 57.1 58.7 64.5 78.6 5

 6 Security RPs 115.7 147.8 151.4 155.6 153.1 142.8 131.9 115.6 118.7 127.0 6

 7 Credit market instruments 536.7 544.6 568.7 642.6 759.8 831.5 910.8 978.1 1007.7 1090.6 7

 8 Open market paper 39.4 59.7 74.0 86.8 104.3 119.5 136.9 151.3 154.2 162.1 8

 9 Agency- and GSE-backed securities (1) 151.5 116.2 115.4 154.1 198.3 239.7 287.0 328.8 345.5 387.1 9

10 Municipal securities 5.1 4.6 3.9 3.2 3.5 3.7 4.0 4.1 4.6 5.9 10

11 Corporate and foreign bonds 39.0 49.7 51.0 62.4 74.0 83.8 95.1 104.2 109.6 122.9 11

12 Mortgages 171.3 167.9 167.0 172.3 209.5 206.2 204.2 199.4 203.7 222.1 12

13 Consumer credit 9.2 17.7 27.6 36.5 48.0 59.7 72.5 80.5 82.4 86.1 13

14 Other loans and advances (2) 121.2 128.8 129.7 127.3 122.1 118.9 111.0 109.8 107.8 104.5 14

15 Corporate equities 26.4 46.9 78.4 98.5 98.3 93.2 88.0 79.3 81.6 87.8 15

16 Mutual fund shares 35.0 41.0 33.6 34.1 33.4 30.8 28.1 24.3 25.8 29.7 16

17 Trade receivables 100.4 106.9 110.0 118.5 127.8 138.0 151.3 150.6 167.2 173.0 17

18 Taxes receivable 55.2 130.6 133.0 131.5 139.6 153.8 155.5 164.6 168.5 177.4 18

19 Miscellaneous assets 196.3 191.2 259.8 266.4 258.7 241.8 228.7 205.6 195.7 223.9 19

20 Total liabilities 5272.9 5510.4 5648.9 5678.2 5690.9 5456.9 5631.4 6078.7 6732.0 8032.4 20

21 SDR allocations 7.3 7.0 6.6 6.9 6.7 6.4 6.2 6.7 7.3 7.6 21

22 SDR certificates 10.2 9.7 9.2 9.2 6.2 2.2 2.2 2.2 2.2 2.2 22

23 Treasury currency 18.3 18.9 19.3 19.9 20.9 23.2 24.5 25.5 26.0 26.7 23

24 Credit market instruments 4384.0 4546.0 4632.4 4605.1 4549.0 4264.1 4345.4 4720.7 5226.9 6421.6 24

25 Savings bonds 185.0 187.0 186.5 186.6 186.4 184.8 190.3 194.9 203.8 204.4 25

26 Treasury bills and other Treasury securities (3) 3133.7 3311.1 3352.5 3256.3 3161.7 2863.0 2833.9 3060.2 3439.5 3754.8 26

27 Budget agency securities 28.2 26.6 26.5 28.5 28.3 27.3 26.8 27.3 24.9 24.3 27

28 Municipal securities 1037.0 1021.3 1067.0 1133.6 1172.5 1189.0 1294.4 1438.3 1558.8 2438.2 28

29 Multifamily residential mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

30 Trade payables 310.2 329.5 340.8 354.0 382.6 413.2 443.4 472.7 573.3 618.9 30

31 Insurance reserves 29.9 30.5 32.3 33.6 35.0 36.4 37.8 39.4 40.5 41.6 31

32 Miscellaneous liabilities (4) 513.0 568.7 608.3 649.6 690.6 711.3 772.0 811.7 855.8 913.9 32

(1) Holdings by state and local governments may include small amounts of budget agency securities issued by the federal government.

(2) Excludes loans to state and local governments.

(3) Excludes Treasury securities owed to state and local governments.

(4) Includes nonmarketable government securities held by the civil service retirement and disability fund, Railroad Retirement Board, judicial retirement fund, military

 retirement fund, and foreign service retirement and disability fund.
FFA, 1995-2004, December 6, 2012 113

F.116.b Private Pension Funds: Defined Benefit Plans

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Net acquisition of financial assets -26.4 -35.9 -43.2 -46.5 -66.6 -75.3 -63.2 -34.6 -13.2 -37.1 1

 2 Checkable deposits and currency 0.3 0.2 0.4 0.6 0.2 1.2 0.6 -0.2 0.1 0.1 2

 3 Time and savings deposits 8.3 14.3 16.8 16.4 -19.7 -23.7 -35.1 -5.5 2.3 -4.8 3

 4 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Security RPs -0.4 3.0 0.1 0.0 -0.3 -9.0 -1.5 -0.6 1.1 0.4 5

 6 Credit market instruments 21.8 -11.2 37.3 -23.7 89.0 -123.7 -19.6 -36.5 73.3 -10.5 6

 7 Open market paper -0.4 3.0 0.1 0.1 0.4 -7.4 -0.3 -1.4 -0.9 -0.3 7

 8 Treasury securities 1.6 -5.1 3.2 -20.6 18.6 -11.7 -0.4 -12.7 14.3 -6.9 8

 9 Agency- and GSE-backed securities 3.2 -12.3 7.1 -18.2 30.4 -37.3 1.8 -17.9 35.6 7.7 9

10 Corporate and foreign bonds 17.4 3.1 26.5 15.4 39.6 -66.1 -21.3 -4.7 24.3 -10.8 10

11 Mortgages 0.1 0.0 0.5 -0.4 0.0 -1.3 0.6 0.2 -0.1 -0.1 11

12 Corporate equities -60.2 -63.1 -105.3 -52.5 -128.9 85.1 39.6 -16.0 -34.9 -12.6 12

13 Mutual fund shares 14.2 7.6 7.3 7.8 5.9 41.7 -17.6 20.2 -41.6 11.2 13

14 Miscellaneous assets -10.3 13.4 0.3 4.9 -12.8 -47.0 -29.6 3.9 -13.4 -20.9 14

15 Unallocated insurance contracts (1) -10.7 2.7 -5.3 -3.4 -14.2 -5.2 -1.0 11.0 -10.7 -24.5 15

16 Contributions receivable 1.6 1.6 5.4 8.0 -7.5 -17.4 -25.8 -4.5 -0.0 -2.0 16

17 Other -1.3 9.0 0.2 0.3 8.9 -24.4 -2.8 -2.6 -2.6 5.5 17

(1) Assets of private pension plans held at life insurance companies (e.g., GICs, variable annuities); series begins 1985:Q4.

F.116.c Private Pension Funds: Defined Contribution Plans (1)

Billions of dollars

 1 Net acquisition of financial assets 37.7 45.6 34.4 92.3 14.2 42.3 66.9 62.8 78.1 108.6 1

 2 Checkable deposits and currency 0.6 0.6 1.0 -1.4 1.1 2.1 -1.4 0.5 0.1 0.0 2

 3 Time and savings deposits -0.2 -5.4 -5.8 13.3 -19.6 0.8 -1.3 1.7 1.0 -0.1 3

 4 Money market fund shares 6.3 11.2 13.4 2.3 12.1 4.2 -6.1 9.4 -0.2 0.6 4

 5 Security RPs 0.7 1.9 1.1 1.1 2.3 3.9 -7.4 1.2 0.9 -0.1 5

 6 Credit market instruments -4.9 5.1 7.1 16.6 18.2 -1.3 -15.2 31.1 -1.5 11.6 6

 7 Open market paper 1.3 3.0 1.5 3.0 5.6 1.3 -8.0 5.1 -2.4 1.3 7

 8 Treasury securities -1.9 0.3 -1.2 7.4 -1.9 1.8 -6.0 11.1 -1.1 3.1 8

 9 Agency- and GSE-backed securities -1.6 1.0 -0.9 1.0 9.1 4.4 3.4 -1.7 5.0 4.1 9

10 Corporate and foreign bonds -3.4 0.2 7.6 5.0 3.5 -10.2 -1.8 16.2 -3.1 3.3 10

11 Mortgages 0.7 0.7 0.3 0.2 1.8 1.5 -2.8 0.4 -0.0 -0.1 11

12 Corporate equities -29.3 -28.4 -45.4 21.0 -51.5 -22.3 67.0 -45.5 32.4 37.3 12

13 Mutual fund shares 54.4 44.0 55.0 50.0 56.0 66.0 58.0 54.0 53.0 73.0 13

14 Miscellaneous assets 10.0 16.7 7.9 -10.7 -4.2 -11.1 -26.7 10.4 -7.6 -13.8 14

15 Unallocated insurance contracts (2) -1.4 2.1 -4.6 -20.1 -4.3 -30.4 12.9 1.2 -7.3 -10.8 15

16 Contributions receivable 3.8 3.8 3.0 4.8 -10.8 -1.7 1.2 6.0 -0.1 -1.1 16

17 Other 7.6 10.8 9.6 4.5 10.9 21.0 -40.7 3.1 -0.1 -1.9 17

(1) Includes 401(k) type plans.

(2) Assets of private pension plans held at life insurance companies (e.g., GICs, variable annuities); series begins 1985:Q4.

F.225.i Individual Retirement Accounts (IRAs) (1)

Billions of dollars

 1 Total held at: 122.2 132.8 151.8 191.5 219.7 228.6 169.9 174.8 160.4 175.9 1

 2 U.S.-chartered depository institutions 4.5 -3.2 -5.9 -5.7 -6.4 6.6 1.3 4.7 1.5 0.7 2

 3 Credit unions 1.2 0.9 1.2 0.3 0.9 0.4 3.2 3.4 3.5 0.9 3

 4 Life insurance companies 11.2 10.3 47.5 24.6 40.8 19.5 26.6 82.2 5.2 -1.2 4

 5 Money market mutual funds 13.9 16.0 -2.0 25.0 19.0 4.0 19.0 9.0 -14.0 -15.0 5

 6 Mutual funds 62.8 60.3 94.0 89.5 88.5 56.7 37.0 18.7 109.0 80.1 6

 7 Other self-directed accounts 28.5 48.4 17.0 57.8 76.9 141.3 82.8 56.8 55.1 110.4 7

(1) Assets of the household sector (F.100). IRA assets are not included in pension fund reserves (table F.225), except for those at life insurance companies. Figures for depositories (lines 2 through 4)

 include Keogh accounts. Variable annuities in IRAs are in the life insurance sector (line 5) and are excluded from the mutual fund sector (line 7) and from the money market fund sector (line 6).
114 FFA, 1995-2004, December 6, 2012

L.116.b Private Pension Funds: Defined Benefit Plans

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 1466.1 1590.2 1763.5 1907.7 2074.6 1979.0 1810.2 1639.3 1994.5 2132.2 1

 2 Checkable deposits and currency 2.1 2.2 2.6 3.2 3.4 4.7 5.3 5.1 5.1 5.2 2

 3 Time and savings deposits 75.4 89.7 106.4 122.9 103.2 79.5 44.3 38.8 41.1 36.3 3

 4 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Security RPs 11.2 14.2 14.2 14.3 14.0 4.9 3.5 2.8 3.9 4.4 5

 6 Credit market instruments 460.1 448.9 486.3 462.6 551.6 427.9 408.3 371.8 445.1 434.7 6

 7 Open market paper 11.2 14.2 14.2 14.4 14.8 7.4 7.1 5.7 4.8 4.5 7

 8 Treasury securities 79.7 74.7 77.9 57.2 75.9 64.2 63.9 51.2 65.5 58.6 8

 9 Agency- and GSE-backed securities 185.6 173.3 180.4 162.2 192.6 155.3 157.1 139.2 174.8 182.5 9

10 Corporate and foreign bonds 178.8 181.9 208.4 223.8 263.3 197.2 175.9 171.3 195.6 184.7 10

11 Mortgages 4.8 4.9 5.4 5.0 5.0 3.7 4.4 4.6 4.5 4.4 11

12 Corporate equities 688.8 764.3 844.0 949.1 1006.3 1076.0 1060.7 917.6 1170.8 1294.2 12

13 Mutual fund shares 68.5 91.0 122.3 156.6 199.0 236.4 180.8 188.8 197.4 233.6 13

14 Miscellaneous assets 160.1 179.9 187.7 199.1 197.2 149.7 107.4 114.4 131.0 123.9 14

15 Unallocated insurance contracts (1) 80.7 89.9 92.0 95.1 91.9 86.1 72.4 86.4 105.7 95.0 15

16 Contributions receivable 45.8 47.5 52.8 60.9 53.4 36.0 10.2 5.7 5.7 3.7 16

17 Other 33.5 42.5 42.8 43.1 52.0 27.6 24.8 22.2 19.6 25.2 17

(1) Assets of private pension plans held at life insurance companies (e.g., GICs, variable annuities); series begins 1985:Q4.

L.116.c Private Pension Funds: Defined Contribution Plans (1)

Billions of dollars

 1 Total financial assets 1432.7 1634.2 1949.3 2236.2 2519.2 2488.6 2239.2 2036.0 2525.3 2790.2 1

 2 Checkable deposits and currency 2.8 3.4 4.3 2.9 4.0 6.1 4.7 5.2 5.3 5.3 2

 3 Time and savings deposits 34.8 29.4 23.7 37.0 17.4 18.2 17.0 18.6 19.6 19.6 3

 4 Money market fund shares 37.9 49.1 62.5 64.8 76.9 81.1 75.1 84.5 84.3 84.9 4

 5 Security RPs 11.3 13.2 14.3 15.4 17.7 21.6 14.2 15.4 16.4 16.2 5

 6 Credit market instruments 148.3 153.4 160.5 177.2 195.3 194.0 178.7 209.8 208.3 220.0 6

 7 Open market paper 13.7 16.6 18.1 21.1 26.6 27.9 19.9 25.1 22.7 24.0 7

 8 Treasury securities 41.0 41.3 40.1 47.5 45.6 47.4 41.4 52.4 51.4 54.4 8

 9 Agency- and GSE-backed securities 27.5 28.5 27.5 28.6 37.7 42.1 45.4 43.7 48.7 52.8 9

10 Corporate and foreign bonds 62.3 62.5 70.1 75.1 78.6 68.4 66.6 82.8 79.8 83.1 10

11 Mortgages 3.8 4.4 4.7 4.9 6.7 8.2 5.4 5.8 5.8 5.6 11

12 Corporate equities 568.0 638.8 759.7 920.1 959.9 894.6 848.0 670.9 925.8 1044.3 12

13 Mutual fund shares 288.5 381.6 537.8 633.3 857.5 895.3 782.1 743.1 929.4 1044.6 13

14 Miscellaneous assets 341.1 365.4 386.5 385.4 390.4 377.6 319.5 288.4 336.2 355.4 14

15 Unallocated insurance contracts (2) 241.4 251.1 259.7 249.2 254.1 222.0 203.4 163.2 211.3 233.5 15

16 Contributions receivable 37.9 41.7 44.7 49.6 38.7 37.0 38.2 44.2 44.1 43.0 16

17 Other 61.8 72.6 82.1 86.7 97.6 118.6 77.9 81.0 80.9 79.0 17

(1) Includes 401(k) type plans.

(2) Assets of private pension plans held at life insurance companies (e.g., GICs, variable annuities); series begins 1985:Q4.

L.225.i Individual Retirement Accounts (IRAs) (1)

Billions of dollars

 1 Total held at: 1288.0 1467.0 1728.0 2150.0 2651.0 2629.0 2619.0 2532.0 2993.0 3299.0 1

 2 U.S.-chartered depository institutions 228.1 224.9 219.0 213.2 206.8 213.4 214.7 219.4 220.9 221.7 2

 3 Credit unions 33.0 33.8 35.0 35.3 36.2 36.7 39.9 43.3 46.8 47.7 3

 4 Life insurance companies 94.3 110.3 161.0 190.1 245.5 245.5 251.0 308.3 338.4 348.1 4

 5 Money market mutual funds 76.2 93.0 91.0 116.0 135.0 139.0 158.0 167.0 153.0 138.0 5

 6 Mutual funds 384.6 498.0 675.0 844.0 1108.0 1082.0 997.0 856.0 1141.0 1340.0 6

 7 Other self-directed accounts 471.9 506.9 547.0 751.3 919.5 912.4 958.4 938.0 1092.9 1203.6 7

(1) Assets of the household sector (L.100), shown at market value. IRA assets are not included in pension fund reserves (table L.225), except for those at life insurance companies. Figures for depositories

 (lines 2 through 4) include Keogh accounts. Variable annuities in IRAs are in the life insurance sector (line 5) and are excluded from the mutual fund sector (line 7) and from the money market fund

 sector (line 6).