Z.1, December 6, 2012 119

B.100.e Balance Sheet of Households and Nonprofit Organizations with Equity Detail (1)

Billions of dollars; amounts outstanding end of period, not seasonally adjusted

2007 2008 2009 2010 2011 2012

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 Assets 80263.7 67612.6 69454.8 73064.8 74748.9 74779.4 72131.7 73736.6 76637.7 76493.7 78204.3 1

 2 Nonfinancial assets 28216.2 24802.5 23764.6 23450.0 23317.0 23285.5 23347.4 23346.5 23805.1 24219.7 24627.3 2

 3 Financial assets 52047.5 42810.1 45690.2 49614.7 51431.9 51493.9 48784.4 50390.0 52832.7 52274.0 53577.0 3

 4 Deposits 7502.0 8107.1 7969.1 7963.1 8042.5 8221.0 8386.1 8620.5 8647.0 8671.1 8719.3 4

 5 Credit market instruments 4933.5 4900.0 5185.7 5565.6 5494.3 5228.1 5230.9 4905.2 4842.7 4896.0 4732.5 5

 6 Equity shares at market value 20947.1 12469.4 15984.4 18505.3 19938.0 19931.6 16671.4 18029.5 20128.4 19260.0 20325.7 6

 7 Directly held 9631.4 5764.8 7434.9 8737.7 9576.1 9620.8 8144.4 8721.9 9656.2 9270.2 9794.6 7

 8 Indirectly held 11315.7 6704.6 8549.6 9767.7 10361.9 10310.8 8527.1 9307.5 10472.2 9989.9 10531.1 8

 9 Life insurance companies 1466.8 956.9 1220.3 1420.5 1511.6 1512.1 1274.5 1395.7 1508.7 1456.7 1553.5 9

10 Private pension funds 4260.5 2471.9 3055.6 3502.6 3699.4 3676.7 3105.6 3379.6 3792.0 3613.8 3790.3 10

11 Defined benefit plans 1660.7 903.5 975.2 1069.7 1117.8 1103.4 913.7 1000.3 1109.6 1054.3 1102.1 11

12 Defined contribution plans 2599.8 1568.5 2080.3 2432.9 2581.6 2573.4 2191.9 2379.3 2682.4 2559.4 2688.2 12

13 State and local govt. retirement funds 2221.0 1338.3 1684.5 1939.0 2025.4 2008.0 1646.1 1827.5 2040.3 1945.5 2038.7 13

14 Federal government retirement funds 145.7 83.7 116.8 140.9 148.9 149.4 121.0 134.4 153.1 146.3 154.0 14

15 Mutual funds 3221.7 1853.7 2472.3 2764.6 2976.6 2964.6 2379.9 2570.4 2978.1 2827.6 2994.7 15

16 Other 18664.9 17333.6 16551.0 17580.7 17957.1 18113.2 18495.9 18834.9 19214.5 19446.8 19799.5 16

17 Liabilities 14263.1 14106.6 13880.8 13706.5 13632.3 13548.0 13466.1 13476.6 13433.2 13446.4 13435.5 17

18 Net worth 66000.6 53506.0 55574.0 59358.3 61116.6 61231.4 58665.6 60260.0 63204.5 63047.3 64768.8 18

 Memo:

19 Equity shares excluding defined benefit plans 17047.5 10217.2 13313.1 15484.2 16782.3 16808.4 14102.2 15191.3 16967.3 16249.7 17174.2 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) 26.1 18.4 23.0 25.3 26.7 26.7 23.1 24.5 26.3 25.2 26.0 20

21 Financial assets (line 3) 40.2 29.1 35.0 37.3 38.8 38.7 34.2 35.8 38.1 36.8 37.9 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.
120 Z.1, December 6, 2012

F.100.a Nonprofit Organizations (1)

Billions of dollars

1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000

 

 1 Net lending (+) or net borrowing (-) 53.5 42.1 21.7 8.8 23.3 11.1 52.5 48.5 83.6 9.2 1.5 -6.0 39.6 1

 2 Net acquisition of financial assets 70.9 75.8 53.8 46.4 53.0 45.2 76.5 84.9 120.0 47.4 55.0 28.8 108.1 2

 3 Checkable deposits and currency 0.5 -1.0 1.3 4.0 1.2 1.7 -2.5 2.3 8.3 2.9 3.1 2.3 5.1 3

 4 Time and savings deposits -0.2 5.4 -6.2 10.4 -2.4 -1.5 0.2 0.2 1.1 0.3 1.1 0.6 0.8 4

 5 Money market fund shares -13.1 4.9 -1.2 32.9 4.0 -13.8 1.1 1.2 9.4 -1.8 7.1 3.8 4.5 5

 6 Security RPs (2) 0.4 3.1 -2.2 -1.3 6.0 0.5 0.2 0.2 1.4 0.0 1.3 0.7 0.8 6

 7 Credit market instruments 54.9 21.9 22.2 -17.6 10.9 25.5 16.6 38.8 36.7 23.1 36.4 46.7 32.6 7

 8 Open market paper 38.2 -5.7 5.8 -35.2 -5.8 12.4 4.7 2.0 4.1 1.3 3.0 4.7 12.4 8

 9 Treasury securities 6.4 13.8 4.8 6.1 6.8 5.1 6.4 16.4 13.9 8.9 11.6 17.5 5.4 9

10 Agency- and GSE-backed securities 4.5 2.6 4.6 3.6 3.1 2.3 2.9 7.6 6.4 4.1 5.4 8.1 2.5 10

11 Municipal securities 0.0 0.5 -0.5 0.0 0.2 0.3 0.4 0.1 0.0 -0.1 0.1 0.1 0.0 11

12 Corporate and foreign bonds 6.6 9.7 8.2 7.9 5.6 4.5 2.4 11.9 11.7 8.3 15.4 15.4 10.5 12

13 Mortgages -0.8 0.9 -0.7 -0.1 0.9 0.9 -0.1 0.9 0.6 0.6 0.9 0.8 1.7 13

14 Corporate equities 5.2 16.1 15.0 -18.6 18.6 8.9 45.1 -10.4 21.0 -30.6 -40.7 -67.4 15.4 14

15 Mutual fund shares -1.0 2.6 1.2 -3.3 0.7 -0.7 1.5 1.3 2.4 -1.0 0.4 -3.3 -1.0 15

16 Security credit 2.8 2.8 2.6 2.0 1.1 0.8 2.0 1.5 3.4 3.7 4.6 1.1 4.3 16

17 Trade receivables (2) 2.8 2.8 2.6 2.0 1.1 1.8 2.1 1.6 3.5 2.6 4.6 1.1 4.3 17

18 Equity in noncorporate business -0.1 -3.9 -6.0 15.2 10.6 7.0 0.2 10.2 8.4 9.7 12.5 12.0 16.3 18

19 Miscellaneous assets (2) 18.6 21.0 24.5 20.5 1.2 15.0 10.1 38.0 24.4 38.3 24.7 31.2 25.0 19

20 Net increase in liabilities 17.3 33.6 32.1 37.6 29.7 34.1 24.0 36.4 36.3 38.2 53.5 34.7 68.5 20

21 Credit market instruments 7.5 11.7 11.8 14.3 10.0 13.8 2.4 -0.6 11.0 10.6 23.4 13.5 19.3 21

22 Municipal securities 1.5 3.2 3.0 3.8 2.4 1.1 3.2 0.2 6.1 7.1 11.8 10.4 5.8 22

23 Depository institution loans n.e.c. 1.6 1.4 1.4 1.6 1.2 2.0 -0.2 -0.1 0.8 0.6 1.9 0.5 2.2 23

24 Other loans and advances -0.0 -0.0 0.3 0.4 -0.2 0.1 0.1 -0.1 0.0 -0.2 -0.1 0.1 -0.3 24

25 Commercial mortgages 4.4 7.2 7.2 8.6 6.6 10.7 -0.8 -0.6 4.1 3.1 9.9 2.5 11.6 25

26 Trade payables 2.4 16.2 9.3 9.4 5.9 6.0 5.2 7.9 8.0 8.9 8.7 4.1 3.8 26

27 Miscellaneous liabilities (2) 7.4 5.8 10.9 13.8 13.8 14.3 16.5 29.1 17.3 18.7 21.4 17.0 45.4 27

(1) Does not include religious organizations or organizations with less than $25,000 in gross annual receipts.

(2) Not included in table F.100.
Z.1, December 6, 2012 121

L.100.a Nonprofit Organizations (1)

Billions of dollars; amounts outstanding end of period, not seasonally adjusted

1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000

 

 1 Total financial assets 590.7 710.5 742.1 828.1 890.2 957.1 1025.5 1214.0 1414.1 1607.3 1793.9 1974.7 2003.8 1

 2 Checkable deposits and currency 17.0 15.9 17.3 21.3 22.5 24.1 21.6 23.9 32.1 35.0 38.1 40.4 45.5 2

 3 Time and savings deposits 1.5 6.8 0.6 11.1 8.7 7.1 7.3 7.5 8.6 8.9 10.0 10.6 11.4 3

 4 Money market fund shares 15.9 20.8 19.6 52.5 56.5 42.7 43.8 45.1 54.5 52.7 59.8 63.6 68.1 4

 5 Security RPs (2) 1.7 4.8 2.5 1.3 7.3 7.8 8.0 8.2 9.6 9.6 10.9 11.6 12.5 5

 6 Credit market instruments 229.3 251.2 273.4 255.9 266.8 292.3 308.9 347.7 384.4 407.6 443.9 490.6 523.2 6

 7 Open market paper 93.6 87.9 93.7 58.5 52.7 65.0 69.7 71.7 75.8 77.1 80.2 84.9 97.3 7

 8 Treasury securities 55.7 69.5 74.3 80.3 87.1 92.2 98.5 114.9 128.8 137.6 149.2 166.8 172.2 8

 9 Agency- and GSE-backed securities 26.3 28.9 33.5 37.1 40.3 42.6 45.5 53.1 59.5 63.6 69.0 77.1 79.6 9

10 Municipal securities 0.1 0.6 0.1 0.2 0.4 0.8 1.1 1.2 1.3 1.2 1.3 1.5 1.5 10

11 Corporate and foreign bonds 51.1 60.8 69.0 77.0 82.6 87.1 89.5 101.4 113.1 121.4 136.8 152.2 162.6 11

12 Mortgages 2.6 3.5 2.8 2.8 3.7 4.6 4.5 5.3 6.0 6.6 7.4 8.3 10.0 12

13 Corporate equities 145.8 203.0 197.5 214.6 241.1 270.2 308.2 397.1 494.7 604.9 692.0 769.3 708.6 13

14 Mutual fund shares 10.2 15.8 15.3 15.9 17.7 18.5 19.0 24.6 30.4 34.5 38.7 42.7 38.8 14

15 Security credit 25.7 28.5 31.1 33.1 34.3 35.0 37.1 38.6 42.0 45.8 50.3 51.5 55.8 15

16 Trade receivables (2) 25.7 28.5 31.1 33.1 34.3 36.1 38.1 39.7 43.2 45.8 50.3 51.5 55.8 16

17 Equity in noncorporate business 26.1 22.2 16.2 31.4 42.0 49.0 49.2 59.4 67.8 77.5 90.0 102.0 118.3 17

18 Miscellaneous assets (2) 92.0 112.9 137.4 158.0 159.2 174.2 184.3 222.2 246.7 285.0 309.7 340.9 365.9 18

19 Liabilities 253.8 287.5 319.5 357.1 386.8 421.0 444.9 481.4 517.7 555.8 609.3 644.1 712.5 19

20 Credit market instruments 154.4 166.1 177.9 192.3 202.3 216.1 218.5 217.9 228.9 239.5 262.9 276.4 295.7 20

21 Municipal securities 79.6 82.7 85.7 89.5 91.9 93.0 96.1 96.4 102.4 109.6 121.3 131.7 137.5 21

22 Depository institution loans n.e.c. 11.8 13.1 14.5 16.1 17.3 19.3 19.2 19.1 19.8 20.4 22.3 22.7 24.9 22

23 Other loans and advances 0.3 0.3 0.5 0.9 0.7 0.8 0.9 0.8 0.9 0.7 0.6 0.7 0.4 23

24 Commercial mortgages 62.7 70.0 77.2 85.8 92.3 103.0 102.2 101.6 105.7 108.8 118.7 121.2 132.8 24

25 Trade payables 41.3 57.4 66.8 76.2 82.1 88.1 93.2 101.1 109.1 118.0 126.8 130.9 134.7 25

26 Miscellaneous liabilities (2) 58.2 63.9 74.8 88.6 102.5 116.8 133.3 162.4 179.7 198.4 219.7 236.8 282.1 26

(1) Does not include religious organizations or organizations with less than $25,000 in gross annual receipts.

(2) Not included in table L.100.
122 Z.1, December 6, 2012

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

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2008 2009 2010 2011 2011 2012

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 Current receipts, NIPA basis 4051.6 3705.3 3906.8 4086.1 4065.7 4093.2 4076.4 4109.2 4260.1 4259.3 4283.2 1

 2 Personal current taxes 1435.7 1144.6 1194.8 1398.0 1372.5 1396.6 1403.8 1419.1 1450.8 1465.2 1475.5 2

 3 Taxes on production and imports 1038.6 1023.2 1055.0 1097.9 1084.5 1099.0 1098.2 1109.8 1128.5 1130.9 1131.2 3

 4 Taxes on corporate income 281.0 245.9 349.5 351.8 373.1 358.1 334.2 341.8 425.9 414.4 433.7 4

 5 Taxes from the rest of the world 18.8 14.8 15.1 15.9 14.1 14.9 17.0 17.4 15.4 16.9 17.7 5

 6 Contributions for govt. social insurance 992.1 968.1 988.2 923.8 918.9 923.6 925.3 927.3 947.1 949.0 952.2 6

 7 Income receipts on assets 137.5 143.1 141.8 141.7 142.4 142.0 142.1 140.5 140.3 139.0 137.9 7

 8 Current transfer receipts 163.9 181.2 181.9 183.7 183.4 183.6 183.4 184.4 184.2 178.1 170.4 8

 9 Current surplus of government enterprises -16.0 -15.6 -19.5 -26.5 -23.1 -24.4 -27.5 -31.1 -32.0 -34.1 -35.5 9

10 Current expenditures, NIPA basis 4737.3 5047.9 5304.4 5425.5 5391.7 5475.6 5426.4 5408.3 5446.5 5498.3 5495.8 10

11 Consumption expenditures 2381.0 2460.3 2552.0 2579.5 2565.5 2591.3 2591.0 2570.4 2586.9 2580.3 2618.8 11

12 Government social benefits 1857.9 2116.5 2253.4 2291.4 2292.9 2291.8 2287.6 2293.4 2320.4 2337.1 2359.9 12

13 Other current transfer payments 45.3 53.5 54.7 58.7 55.9 65.3 56.0 57.5 59.7 58.4 55.8 13

14 Interest payments 400.2 357.9 387.4 434.2 417.7 465.3 429.5 424.4 418.6 461.5 400.7 14

15 Subsidies 52.9 59.7 57.0 61.6 59.6 61.9 62.4 62.7 60.8 61.0 60.6 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 0.0 16

17 Net saving, NIPA basis -685.7 -1342.6 -1397.7 -1339.4 -1326.0 -1382.3 -1350.0 -1299.1 -1186.4 -1239.0 -1212.6 17

18 + Consumption of fixed capital 311.2 323.5 333.5 349.4 342.6 347.1 352.4 355.5 359.0 362.8 365.6 18

19 - Insurance and pension fund reserves (1) -0.6 0.5 -1.7 -0.4 -2.7 -0.1 0.5 0.6 -2.7 -0.1 -1.3 19

20 - Contr. for govt. soc. insur., U.S.-affiliated areas 4.8 5.0 4.9 4.4 4.4 4.4 4.5 4.5 4.6 4.6 4.6 20

21 - Net capital transfers (2) 3.0 14.9 28.1 28.3 27.2 31.6 31.9 22.6 14.5 11.8 13.6 21

22 = Gross saving less net capital transfers -381.7 -1039.3 -1095.4 -1022.3 -1012.3 -1071.2 -1034.5 -971.2 -843.8 -892.6 -864.0 22

23 Gross investment -449.1 -972.8 -1002.0 -995.5 -1196.7 -67.0 -1721.7 -996.6 -1203.6 -713.6 -296.2 23

24 Fixed investment 497.2 506.9 505.5 480.2 482.6 480.9 476.8 480.5 467.6 473.4 471.4 24

25 Nonproduced nonfinancial assets -5.1 5.6 11.8 11.4 11.8 11.3 10.8 11.6 10.7 10.8 12.8 25

26 Net lending (+) or net borrowing (-) -941.2 -1485.3 -1519.3 -1487.1 -1691.1 -559.3 -2209.3 -1488.7 -1682.0 -1197.8 -780.3 26

27 Net acquisition of financial assets 527.9 166.5 275.4 -253.8 -734.4 -30.5 -287.6 37.2 -148.8 193.5 -0.1 27

28 U.S. official reserve assets 4.2 51.9 1.6 16.2 16.3 24.8 16.0 7.9 4.6 13.0 8.4 28

29 Checkable deposits and currency 321.6 -155.0 155.5 -241.7 -830.9 7.4 -312.6 169.2 -131.9 87.7 -34.3 29

30 Time and savings deposits 17.9 11.2 -0.4 17.7 -1.6 32.9 11.1 28.5 0.3 32.5 38.9 30

31 Money market fund shares -3.3 8.7 7.7 -3.3 0.3 0.1 -9.3 -4.4 -3.9 -4.5 9.2 31

32 Security RPs -15.7 -4.0 -5.2 -8.3 -11.1 -11.1 -7.4 -3.5 -3.1 -3.6 7.2 32

33 Credit market instruments -58.4 197.4 126.1 -38.6 114.3 -73.6 -81.3 -113.9 -25.7 70.3 226.5 33

34 Open market paper -81.9 -73.4 60.1 23.9 43.6 43.7 -8.0 16.2 -3.4 -3.9 7.8 34

35 Agency- and GSE-backed securities (3) 18.3 110.2 -63.2 -165.1 -83.9 -180.2 -183.5 -212.8 -161.7 -20.9 70.6 35

36 Municipal securities -0.1 0.9 0.8 -0.2 0.2 0.2 -0.8 -0.4 -0.3 -0.4 0.8 36

37 Corporate and foreign bonds -11.4 3.4 1.8 -7.0 -6.5 -6.6 -10.2 -4.8 -4.3 -4.9 9.4 37

38 Mortgages 0.1 16.8 -6.2 -2.8 2.9 -1.1 -12.4 -0.6 -0.7 -4.2 15.4 38

39 Consumer credit 11.3 74.3 130.2 108.7 149.8 83.0 127.5 74.4 135.8 99.0 135.5 39

40 Other loans and advances (4) 5.2 65.2 2.7 4.0 8.2 -12.5 6.0 14.1 8.9 5.4 -12.9 40

41 Corporate equities 263.9 11.0 8.4 33.7 35.6 43.6 42.1 13.3 -57.6 -10.3 -15.8 41

42 Mutual fund shares 15.6 -8.0 -5.0 -2.0 -10.2 -0.4 21.2 -18.5 -19.5 4.0 -10.2 42

43 Trade receivables -18.1 -39.7 -20.0 -4.9 -22.5 -10.1 6.2 6.8 -5.2 6.9 -2.4 43

44 Taxes receivable -59.8 29.2 25.7 35.0 54.3 26.2 61.6 -2.4 81.3 24.3 49.8 44

45 Miscellaneous assets 60.0 63.8 -19.0 -57.6 -78.7 -70.4 -35.3 -45.8 11.9 -26.8 -277.3 45

46 Net increase in liabilities 1469.2 1651.8 1794.8 1233.3 956.7 528.8 1921.7 1525.9 1533.2 1391.3 780.3 46

47 SDR allocations 0.0 47.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 47

48 SDR certificates 0.0 3.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 48

49 Treasury currency -0.8 -0.4 -0.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 49

50 Credit market instruments 1317.8 1535.6 1657.4 1067.8 819.8 778.4 1391.7 1281.2 1437.5 1249.1 653.6 50

51 Savings bonds -2.4 -2.8 -3.3 -2.7 -4.3 -3.8 -2.7 -0.1 -1.5 -2.4 -2.2 51

52 Treasury bills and other Treasury securities (4) 1302.9 1426.0 1591.4 1123.0 909.0 866.1 1398.0 1318.8 1443.9 1159.3 658.4 52

53 Budget agency securities 0.2 0.1 0.7 1.1 1.2 0.2 1.9 1.1 -3.3 0.1 -0.3 53

54 Municipal securities 17.1 112.2 68.7 -53.6 -86.0 -84.1 -5.6 -38.6 -1.6 92.0 -2.4 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 0.0 55

56 Trade payables 61.8 -16.5 46.2 61.3 82.1 36.3 59.6 67.1 58.4 22.7 63.5 56

57 Insurance reserves 1.0 1.1 0.9 1.3 0.3 1.7 1.2 1.9 0.5 1.5 -0.2 57

58 Miscellaneous liabilities (5) 89.5 81.4 90.6 102.9 54.4 -287.6 469.2 175.6 36.8 118.0 63.4 58

59 Discrepancy 67.4 -66.5 -93.4 -26.8 184.4 -1004.2 687.1 25.4 359.8 -179.0 -567.8 59

 Memo:

60 Net govt. saving less fixed investment (6) -1182.9 -1849.5 -1903.2 -1819.6 -1808.5 -1863.3 -1826.8 -1779.6 -1654.0 -1712.5 -1684.0 60

61 Adjustment between NIPA and FOF (7) 241.7 364.2 383.9 332.5 117.5 1304.0 -382.4 290.9 -28.0 514.6 903.6 61

62 Items to be financed (8) -941.2 -1485.3 -1519.3 -1487.1 -1691.1 -559.3 -2209.3 -1488.7 -1682.0 -1197.8 -780.3 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.
Z.1, December 6, 2012 123

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

Billions of dollars; amounts outstanding end of period, not seasonally adjusted

2008 2009 2010 2011 2011 2012

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 Total financial assets 3079.0 3128.7 3342.9 3030.1 3148.1 3141.2 3033.6 3030.1 2978.4 3031.7 3089.9 1

 2 U.S. official reserve assets 41.9 94.6 95.4 103.9 102.1 105.9 105.0 103.9 104.5 103.1 104.7 2

 3 Checkable deposits and currency 433.6 278.5 433.6 191.7 207.5 230.8 151.8 191.7 146.7 191.8 180.6 3

 4 Time and savings deposits 266.6 277.8 277.4 295.2 280.4 276.0 281.7 295.2 313.3 308.3 321.0 4

 5 Money market fund shares 113.3 122.0 129.7 126.3 129.8 129.8 127.5 126.3 125.4 124.2 126.5 5

 6 Security RPs 117.2 113.2 107.9 99.6 105.1 102.4 100.5 99.6 98.9 98.0 99.8 6

 7 Credit market instruments 1157.5 1354.9 1481.1 1442.4 1510.9 1486.7 1470.6 1442.4 1437.2 1448.1 1509.7 7

 8 Open market paper 57.4 -16.0 44.1 68.0 55.0 65.9 63.9 68.0 67.1 66.1 68.1 8

 9 Agency- and GSE-backed securities (1) 485.8 596.1 532.9 367.8 511.9 466.9 421.0 367.8 327.4 322.2 339.8 9

10 Municipal securities 9.4 10.3 11.1 10.9 11.1 11.2 11.0 10.9 10.8 10.7 10.9 10

11 Corporate and foreign bonds 137.8 141.2 143.0 135.9 141.4 139.7 137.1 135.9 134.9 133.6 136.0 11

12 Mortgages 263.7 280.5 274.2 271.5 275.0 274.7 271.6 271.5 271.3 270.2 274.1 12

13 Consumer credit 104.3 178.6 308.8 417.4 347.5 362.4 398.5 417.4 452.6 470.7 509.5 13

14 Other loans and advances (2) 99.1 164.3 167.0 171.0 169.1 165.9 167.4 171.0 173.2 174.6 171.3 14

15 Corporate equities 249.1 148.1 127.6 129.8 138.0 139.9 131.9 129.8 119.6 114.4 113.3 15

16 Mutual fund shares 36.1 37.5 38.6 37.1 38.4 38.1 37.4 37.1 36.8 36.5 37.1 16

17 Trade receivables 112.4 72.6 52.6 47.7 49.5 47.0 48.2 47.7 49.0 50.6 49.4 17

18 Taxes receivable 237.3 245.0 249.0 263.9 251.3 260.0 261.2 263.9 268.2 272.8 273.4 18

19 Miscellaneous assets 313.9 384.4 350.0 292.4 335.1 324.5 317.9 292.4 278.8 283.9 274.4 19

20 Total liabilities 10797.1 12445.9 14236.9 15456.0 14501.8 14501.6 15029.8 15456.0 15860.1 16081.3 16331.6 20

21 SDR allocations 7.5 55.4 54.4 54.2 56.0 56.5 55.2 54.2 54.7 53.6 54.5 21

22 SDR certificates 2.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 22

23 Treasury currency 26.6 26.2 25.9 25.9 25.9 25.9 25.9 25.9 25.9 25.9 25.9 23

24 Credit market instruments 8677.5 10213.1 11870.5 12938.3 12123.5 12199.3 12598.6 12938.3 13339.5 13538.1 13757.4 24

25 Savings bonds 194.0 191.2 187.9 185.2 186.8 186.0 185.1 185.2 184.7 184.3 183.6 25

26 Treasury bills and other Treasury securities (3) 5617.5 7043.5 8634.9 9757.9 8908.7 9019.4 9429.6 9757.9 10159.3 10351.7 10579.7 26

27 Budget agency securities 23.3 23.5 24.2 25.3 24.5 24.5 25.0 25.3 24.4 24.5 24.4 27

28 Municipal securities 2842.7 2954.9 3023.6 2970.0 3003.6 2969.4 2958.9 2970.0 2970.9 2977.7 2969.7 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 0.0 29

30 Trade payables 853.4 836.9 883.1 944.4 907.6 923.7 937.6 944.4 964.4 978.6 990.9 30

31 Insurance reserves 46.4 47.5 48.4 49.7 48.5 48.9 49.2 49.7 49.8 50.2 50.1 31

32 Miscellaneous liabilities (4) 1183.5 1261.6 1349.4 1438.3 1335.1 1242.0 1358.1 1438.3 1420.6 1429.6 1447.6 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.
124 Z.1, December 6, 2012

F.116.b Private Pension Funds: Defined Benefit Plans

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2008 2009 2010 2011 2011 2012

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 Net acquisition of financial assets -82.4 -35.1 -31.9 -28.7 -33.1 -26.4 -26.7 -28.5 -27.8 -28.7 -25.3 1

 2 Checkable deposits and currency 0.1 2.8 3.1 0.7 -4.3 2.2 1.3 3.4 -2.0 0.9 0.3 2

 3 Time and savings deposits 1.1 3.3 -0.0 0.5 0.3 2.4 -0.9 0.1 0.0 -0.4 0.2 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 0.0 4

 5 Security RPs 0.1 -0.0 -1.1 -0.7 0.4 -1.0 -2.3 0.4 0.9 0.2 -0.7 5

 6 Credit market instruments 71.8 114.1 29.9 1.0 -5.1 -15.1 25.9 -1.6 -3.8 -22.6 -2.2 6

 7 Open market paper 10.1 -4.1 -2.2 -0.5 1.1 -1.0 -1.5 -0.8 0.2 -0.7 -0.3 7

 8 Treasury securities 10.1 97.9 44.5 19.9 15.3 3.3 35.8 25.1 26.7 11.2 10.6 8

 9 Agency- and GSE-backed securities 13.7 -23.4 -10.9 -8.6 -5.2 -13.0 -3.9 -12.1 -23.9 -17.6 -20.5 9

10 Corporate and foreign bonds 38.2 44.6 -1.2 -9.6 -16.1 -4.2 -4.4 -13.7 -6.7 -15.3 8.1 10

11 Mortgages -0.3 -0.9 -0.3 -0.1 -0.2 -0.1 -0.1 -0.1 -0.2 -0.1 -0.1 11

12 Corporate equities -171.1 -159.6 -59.7 -37.3 -47.1 -31.3 -29.4 -41.3 -54.5 -34.3 -43.0 12

13 Mutual fund shares 15.5 -5.2 -2.1 5.1 26.1 12.5 -19.8 1.6 19.9 14.5 11.1 13

14 Miscellaneous assets 0.0 9.6 -2.0 2.0 -3.4 3.8 -1.5 9.0 11.6 12.9 9.1 14

15 Unallocated insurance contracts (1) 24.0 5.6 -1.9 1.6 -5.0 4.0 3.0 4.3 6.6 7.9 5.5 15

16 Contributions receivable -0.1 -0.4 -0.9 0.7 -0.0 -0.0 1.0 1.8 1.7 1.9 1.3 16

17 Other -23.9 4.4 0.8 -0.3 1.6 -0.2 -5.5 2.9 3.3 3.1 2.3 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; quarterly figures are seasonally adjusted annual rates

 1 Net acquisition of financial assets 45.6 95.1 93.1 100.7 111.8 112.7 50.8 127.7 115.8 21.2 33.2 1

 2 Checkable deposits and currency 0.3 1.4 1.4 0.4 0.2 1.5 0.2 -0.3 -1.0 0.8 0.6 2

 3 Time and savings deposits -0.8 1.4 0.2 -0.0 -0.5 -0.4 -0.4 1.2 -0.2 -0.8 2.8 3

 4 Money market fund shares 2.3 0.6 -0.1 -0.2 -0.2 -0.2 -0.2 -0.2 0.0 0.0 0.0 4

 5 Security RPs 7.2 3.1 0.9 -3.6 0.8 -16.9 3.9 -2.0 12.2 -1.1 -1.4 5

 6 Credit market instruments 18.9 -2.5 29.4 48.0 39.4 44.2 66.4 42.2 5.8 -4.4 7.2 6

 7 Open market paper 0.2 -6.4 -6.3 -0.9 3.4 -1.1 -1.1 -4.7 2.8 1.6 -6.8 7

 8 Treasury securities 5.3 27.9 35.8 25.3 16.6 23.2 39.8 21.6 20.8 10.9 20.7 8

 9 Agency- and GSE-backed securities 7.7 -25.7 -0.6 13.6 10.2 17.2 16.8 10.3 -17.0 -24.9 -16.5 9

10 Corporate and foreign bonds 4.5 -1.8 -1.6 10.4 10.9 5.9 13.1 11.8 -0.4 8.3 10.1 10

11 Mortgages 1.2 3.5 2.2 -0.4 -1.7 -1.0 -2.2 3.2 -0.4 -0.3 -0.4 11

12 Corporate equities -13.6 -16.0 9.2 13.3 14.1 16.5 10.9 11.5 -13.1 -8.5 -13.7 12

13 Mutual fund shares 20.0 95.0 83.0 51.0 80.0 88.0 -32.0 68.0 120.0 28.0 36.0 13

14 Miscellaneous assets 11.3 12.0 -30.9 -8.2 -22.1 -19.9 1.9 7.3 -8.0 7.4 1.6 14

15 Unallocated insurance contracts (2) 14.2 4.5 -2.5 -1.9 -2.3 -3.0 -1.8 -0.4 -1.4 -0.8 -0.6 15

16 Contributions receivable 0.8 2.9 -0.4 -0.5 -0.6 -0.1 -0.5 -0.8 -0.4 -0.6 -0.2 16

17 Other -3.7 4.6 -28.0 -5.8 -19.2 -16.9 4.2 8.5 -6.2 8.8 2.5 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; quarterly figures are seasonally adjusted annual rates

 1 Total held at: 247.5 198.6 88.7 20.1 -140.0 168.0 100.0 -47.6 -72.6 320.1 ND 1

 2 U.S.-chartered depository institutions 44.2 30.7 26.6 20.3 9.0 28.0 47.1 -2.8 12.4 26.8 ND 2

 3 Credit unions 7.2 8.7 3.0 1.3 1.1 1.4 1.7 0.8 3.1 2.3 ND 3

 4 Life insurance companies 28.9 -6.0 11.9 16.2 10.9 17.8 43.8 -7.7 -7.1 -1.7 ND 4

 5 Money market mutual funds 48.0 -42.0 -23.0 9.0 -20.0 20.0 44.0 -8.0 -32.0 0.0 ND 5

 6 Mutual funds -119.1 151.2 121.7 51.0 132.3 106.6 -115.0 79.9 184.3 274.2 ND 6

 7 Other self-directed accounts 238.3 55.9 -51.5 -77.6 -273.3 -5.9 78.4 -109.8 -233.4 18.4 ND 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).
Z.1, December 6, 2012 125

L.116.b Private Pension Funds: Defined Benefit Plans

Billions of dollars; amounts outstanding end of period, not seasonally adjusted

2008 2009 2010 2011 2011 2012

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 Total financial assets 1853.5 2104.7 2264.3 2206.4 2322.7 2309.7 2102.9 2206.4 2341.3 2281.4 2344.1 1

 2 Checkable deposits and currency 5.9 8.7 11.8 12.4 10.7 11.2 11.6 12.4 11.9 12.2 12.2 2

 3 Time and savings deposits 45.0 48.3 48.3 48.7 48.4 48.9 48.7 48.7 48.7 48.7 48.7 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 0.0 4

 5 Security RPs 5.8 5.7 4.7 4.0 4.8 4.5 3.9 4.0 4.2 4.3 4.1 5

 6 Credit market instruments 659.3 773.4 803.3 804.3 802.0 798.3 804.7 804.3 803.4 797.7 797.2 6

 7 Open market paper 11.0 6.9 4.8 4.2 5.0 4.8 4.4 4.2 4.3 4.1 4.0 7

 8 Treasury securities 114.8 212.7 257.1 277.0 260.9 261.8 270.7 277.0 283.7 286.5 289.1 8

 9 Agency- and GSE-backed securities 241.5 218.2 207.3 198.7 206.0 202.8 201.8 198.7 192.8 188.4 183.2 9

10 Corporate and foreign bonds 288.7 333.3 332.1 322.5 328.1 327.0 325.9 322.5 320.8 317.0 319.0 10

11 Mortgages 3.2 2.3 2.0 1.9 2.0 1.9 1.9 1.9 1.8 1.8 1.8 11

12 Corporate equities 777.1 805.2 878.8 829.9 916.4 903.9 754.5 829.9 920.3 877.7 916.5 12

13 Mutual fund shares 228.0 286.3 318.1 308.0 335.5 337.3 294.5 308.0 336.7 328.5 343.6 13

14 Miscellaneous assets 132.4 177.1 199.4 199.1 204.9 205.5 185.0 199.1 216.0 212.3 221.8 14

15 Unallocated insurance contracts (1) 119.9 160.5 182.9 182.1 188.0 188.6 169.2 182.1 197.8 192.9 201.5 15

16 Contributions receivable 1.3 0.9 0.0 0.7 0.0 0.0 0.3 0.7 1.2 1.6 2.0 16

17 Other 11.3 15.7 16.5 16.2 16.9 16.9 15.5 16.2 17.0 17.8 18.4 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; amounts outstanding end of period, not seasonally adjusted

 1 Total financial assets 2699.2 3366.3 3835.7 3875.2 4008.5 4020.0 3595.3 3875.2 4219.7 4091.7 4254.6 1

 2 Checkable deposits and currency 6.4 7.7 9.1 9.5 9.2 9.5 9.6 9.5 9.3 9.5 9.7 2

 3 Time and savings deposits 22.9 24.3 24.6 24.6 24.4 24.3 24.2 24.6 24.5 24.3 25.0 3

 4 Money market fund shares 95.7 96.4 96.3 96.1 96.2 96.2 96.1 96.1 96.1 96.1 96.1 4

 5 Security RPs 27.3 30.5 31.4 27.9 31.6 27.4 28.4 27.9 30.9 30.6 30.3 5

 6 Credit market instruments 292.1 289.6 319.1 367.1 328.9 340.0 356.5 367.1 368.6 367.5 369.2 6

 7 Open market paper 26.1 19.7 13.4 12.5 14.2 14.0 13.7 12.5 13.2 13.6 11.9 7

 8 Treasury securities 70.2 98.1 133.9 159.2 138.0 143.8 153.8 159.2 164.4 167.1 172.3 8

 9 Agency- and GSE-backed securities 76.6 50.9 50.3 63.9 52.8 57.1 61.3 63.9 59.7 53.4 49.3 9

10 Corporate and foreign bonds 111.4 109.6 108.0 118.4 110.7 112.2 115.5 118.4 118.3 120.4 122.9 10

11 Mortgages 7.8 11.3 13.5 13.1 13.1 12.8 12.3 13.1 13.0 12.9 12.8 11

12 Corporate equities 822.7 1030.6 1202.3 1175.2 1269.0 1260.8 1061.0 1175.2 1325.3 1270.3 1338.0 12

13 Mutual fund shares 1138.0 1531.0 1803.0 1836.6 1895.1 1913.3 1700.6 1836.6 2008.1 1944.8 2026.8 13

14 Miscellaneous assets 294.1 356.2 350.0 338.2 354.1 348.5 318.8 338.2 357.0 348.7 359.6 14

15 Unallocated insurance contracts (2) 197.7 252.3 274.6 269.2 283.6 282.3 251.7 269.2 289.6 279.2 289.5 15

16 Contributions receivable 46.7 49.6 49.1 48.6 49.0 49.0 48.8 48.6 48.5 48.4 48.3 16

17 Other 49.7 54.3 26.3 20.4 21.5 17.3 18.3 20.4 18.9 21.1 21.7 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; amounts outstanding end of period, not seasonally adjusted

 1 Total held at: 3681.0 4363.0 4839.0 4872.0 5025.0 5079.0 4658.0 4872.0 5229.0 5126.0 ND 1

 2 U.S.-chartered depository institutions 326.0 356.7 383.3 403.6 385.6 392.6 404.3 403.6 406.7 413.4 ND 2

 3 Credit unions 65.5 74.2 77.2 78.5 77.5 77.9 78.3 78.5 79.3 79.8 ND 3

 4 Life insurance companies 381.6 405.5 436.0 446.0 450.0 454.0 440.0 446.0 458.0 449.0 ND 4

 5 Money market mutual funds 272.0 230.0 207.0 216.0 202.0 207.0 218.0 216.0 208.0 208.0 ND 5

 6 Mutual funds 1272.0 1664.0 1927.0 1898.0 2026.0 2044.0 1786.0 1898.0 2087.0 2089.0 ND 6

 7 Other self-directed accounts 1363.9 1632.6 1808.5 1829.9 1883.9 1903.6 1731.4 1829.9 1990.0 1886.7 ND 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).
Z.1, December 6, 2012 Flow of Funds Matrix for 2011

(Billions of dollars; All Sectors -- Flows)

Households State Domestic Domestic 

and Nonprofit Nonfinancial and Local Federal Nonfinancial Financial Rest of 

Organizations Business Governments Government Sectors Sectors the World 

 U S U S U S U S U S U S U S 

(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11) (12) (13) (1

 1 Gross saving less net cap. transfers -- 1881.6 -- 1688.1 -- 182.9 -- -1205.2 -- 2547.4 -- 355.6 -- 467 2 Capital consumption -- 1239.8 -- 1107.3 -- 212.4 -- 137.0 -- 2696.5 -- 178.4 --  3 Net saving (1 less 2) -- 641.8 -- 580.7 -- -29.5 -- -1342.2 -- -149.2 -- 177.2 -- 467 4 Gross investment (5 plus 11) 2446.5 -- 1505.5 -- 203.0 -- -1198.4 -- 2956.5 -- 21.6 -- 555.1  5 Capital expenditures 1460.7 -- 1275.3 -- 331.1 -- 160.5 -- 3227.6 -- 179.1 -- -0.1  6 Consumer durables 1071.6 -- -- -- -- -- -- -- 1071.6 -- -- -- --  7 Residential 286.4 -- 46.1 -- 6.8 -- 2.0 -- 341.3 -- 6.3 -- --  8 Nonresidential 112.0 -- 1194.7 -- 312.9 -- 158.6 -- 1778.1 -- 172.9 -- --  9 Inventory change -- -- 36.6 -- -- -- -- -- 36.6 -- -- -- -- 10 Nonproduced nonfinancial assets -9.3 -- -2.1 -- 11.5 -- -0.1 -- 0.1 -- -- -- -0.1 11 Net lending (+) or net borrowing (-) 985.8 -- 230.2 -- -128.2 -- -1358.9 -- -271.1 -- -157.5 -- 555.1 12 Total financial assets 750.5 -- 834.3 -- -140.7 -- -165.7 -- 1278.4 -- 1893.6 -- 1043.4 13 Total liabilities -- -235.3 -- 604.1 -- -12.5 -- 1193.2 -- 1549.5 -- 2051.1 -- 48814 U.S. official reserve assets -- -- -- -- -- -- 16.2 0.0 16.2 0.0 -0.3 -- 0.0 1515 SDR certificates -- -- -- -- -- -- -- 0.0 -- 0.0 0.0 -- -- 16 Treasury currency -- -- -- -- -- -- -- 0.0 -- 0.0 0.7 -- -- 17 Foreign deposits -1.9 -- -7.0 -- -- -- -- -- -9.0 -- -47.3 -- -- -3218 Interbank claims -- -- -- -- -- -- -- -- -- -- 603.0 854.6 221.4 19 Checkable dep. and currency 292.2 -- 67.4 -- 15.9 -- -257.6 -- 117.9 -- 34.1 234.5 81.8 20 Time and savings deposits 382.6 -- 24.3 -- 18.0 -- -0.3 -- 424.6 -- -84.9 372.8 33.1 21 Money market fund shares -15.5 -- -33.1 -- -3.3 -- -- -- -51.9 -- -55.5 -112.8 -5.5 22 Fed. funds and security RPs -- -- 0.7 -- -8.3 -- -- -- -7.5 -- -67.6 -137.0 51.2 23 Credit market instruments -406.9 -209.2 -15.2 518.6 -90.5 -52.7 -0.7 1067.9 -513.3 1324.6 1082.1 -430.8 359.9 3424 Open market paper -5.3 -- -8.5 33.4 23.9 -- -- -- 10.1 33.4 -98.0 -68.1 -0.3 -5325 Treasury securities -276.6 -- -0.4 -- -53.5 -- -- 1066.8 -330.5 1066.8 985.2 -- 412.1 26 Agency- and GSE-backed sec. -15.0 -- -0.1 -- -47.0 -- -118.1 1.1 -180.1 1.1 183.5 -21.9 -24.2 27 Municipal securities -61.9 -7.8 -4.5 8.5 -0.2 -53.6 -- -- -66.6 -52.8 2.9 -- 10.9 28 Corporate and fgn. bonds -34.4 -- -- 384.6 -6.9 -- -0.1 -- -41.5 384.6 243.1 -321.5 -80.7 5729 Depository inst. loans n.e.c. -- -53.9 -- 125.6 -- -- -- -- -- 71.7 132.5 31.6 -- 2930 Other loans and advances -2.8 1.9 -- 68.3 -- 0.9 4.8 -- 2.0 71.1 -31.6 -60.0 42.1 31 Mortgages -10.9 -235.7 -1.7 -101.9 -6.8 -- 4.0 0.0 -15.4 -337.6 -313.1 9.1 -- 32 Consumer credit -- 86.2 0.0 -- -- -- 108.7 -- 108.7 86.2 -22.4 -- -- 33 Corporate equities -174.0 -- -- -472.5 -6.6 -- 40.3 -- -140.4 -472.5 -40.3 165.0 -37.8 8934 Mutual fund shares 299.4 -- -11.2 -- -2.0 -- -- -- 286.2 -- 47.0 403.8 70.6 35 Trade credit -- 14.0 181.1 175.7 -9.7 40.2 4.8 21.1 176.2 251.0 -0.8 -3.9 17.2 -2636 Security credit 58.1 -39.7 -- -- -- -- -- -- 58.1 -39.7 39.3 137.0 0.0 037 Life insurance reserves 86.9 -- -- -- -- -- -- 1.3 86.9 1.3 7.3 92.8 -- 38 Pension fund reserves 194.4 -- -- -- -- -- -- -- 194.4 -- -- 194.4 -- 39 Taxes payable -- -- -- 4.5 5.3 -- 29.7 -- 35.0 4.5 -- 9.5 -- 40 Equity in noncorp. business -11.6 -- -- -9.9 -- -- -- -- -11.6 -9.9 -- -1.7 -- 41 Miscellaneous 46.8 -0.4 627.4 387.8 -59.5 -- 1.9 102.9 616.7 490.3 377.0 272.6 251.4 40742 Sector discrepancies (1 less 4) -564.9 -- 182.5 -- -20.0 -- -6.8 -- -409.1 -- 334.0 -- -87.7 General notes: U = use of funds; S = source of funds. Domestic nonfinancial sectors (columns 9 and 10) are households and nonprofit organizations, nonfinancial business, state and local governments, and federal government.
Z.1, December 6, 2012 Flow of Funds Matrix for 2011

(Billions of dollars; All Sectors -- Assets and Liabilities)

Households State Domestic Domestic 

and Nonprofit Nonfinancial and Local Federal Nonfinancial Financial R

Organizations Business Governments Government Sectors Sectors the 

 A L A L A L A L A L A L A 

(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11) (12) (13) 

 1 Total financial assets 50390.0 -- 18305.3 -- 2192.0 -- 1338.6 -- 72226.0 -- 66009.7 -- 18801.8  2 Total liabilities and equity -- 13476.6 -- 41132.9 -- 3697.8 -- 12258.8 -- 70566.0 -- 66565.5 --  3 Total liabilities -- 13476.6 -- 19116.5 -- 3697.8 -- 12258.8 -- 48549.6 -- 62402.3 --  4 U.S. official reserve assets -- -- -- -- -- -- 103.9 54.2 103.9 54.2 36.8 -- 54.2  5 SDR certificates -- -- -- -- -- -- -- 5.2 -- 5.2 5.2 -- --  6 Treasury currency -- -- -- -- -- -- -- 25.9 -- 25.9 44.2 -- --  7 Foreign deposits 50.1 -- 33.6 -- -- -- -- -- 83.7 -- 58.5 -- --  8 Interbank claims -- -- -- -- -- -- -- -- -- -- 1622.6 1984.6 367.3  9 Checkable dep. and currency 711.0 -- 831.6 -- 107.4 -- 84.3 -- 1734.3 -- 381.2 2594.3 472.3 10 Time and savings deposits 6745.1 -- 912.5 -- 293.5 -- 1.7 -- 7952.8 -- 572.4 8805.2 280.0 11 Money market fund shares 1114.2 -- 522.6 -- 126.3 -- -- -- 1763.1 -- 815.1 2642.5 64.3 12 Fed. funds and security RPs -- -- 12.9 -- 99.6 -- -- -- 112.5 -- 823.2 1140.7 -44.9 13 Credit market instruments 4905.2 12925.6 307.4 11756.3 1196.8 2985.3 746.2 10453.6 7155.6 38120.7 38176.6 14062.1 9127.4 14 Open market paper 58.2 -- 59.4 116.3 68.0 -- -- -- 185.6 116.3 593.0 507.8 190.7 15 Treasury securities 620.7 -- 92.0 -- 485.2 -- -- 10428.3 1197.9 10428.3 4159.3 -- 5071.1 16 Agency- and GSE-backed sec. 134.4 -- 15.9 -- 336.7 -- 31.1 25.3 518.1 25.3 5979.4 7552.1 1079.9 17 Municipal securities 1864.1 255.5 24.3 493.9 10.9 2970.0 -- -- 1899.3 3719.4 1737.4 -- 82.7 18 Corporate and fgn. bonds 2125.1 -- -- 5076.0 135.2 -- 0.8 -- 2261.0 5076.0 7091.2 5013.0 2500.5 19 Depository inst. loans n.e.c. -- 12.4 -- 1530.2 -- -- -- -- -- 1542.6 2086.8 399.9 -- 20 Other loans and advances 23.4 138.1 -- 1220.3 -- 15.3 186.3 -- 209.6 1373.7 1398.2 413.1 202.5 21 Mortgages 79.5 9888.1 62.7 3319.6 160.8 -- 110.6 0.0 413.6 13207.7 12970.2 176.2 -- 22 Consumer credit -- 2631.5 53.1 -- -- -- 417.4 -- 470.5 2631.5 2161.0 -- -- 23 Corporate equities 8721.9 -- -- 14517.4 72.0 -- 57.8 -- 8851.8 14517.4 11000.5 4150.2 2973.6 24 Mutual fund shares 4645.0 -- 167.5 -- 37.1 -- -- -- 4849.6 -- 2591.0 8000.5 559.9 25 Trade credit -- 288.2 2806.9 2287.8 0.0 712.5 47.7 231.9 2854.6 3520.3 134.8 14.2 133.5 26 Security credit 752.3 238.5 -- -- -- -- -- -- 752.3 238.5 559.8 1073.6 0.0 27 Life insurance reserves 1203.6 -- -- -- -- -- -- 49.7 1203.6 49.7 148.4 1302.3 -- 28 Pension fund reserves 13152.3 -- -- -- -- -- -- -- 13152.3 -- -- 13152.3 -- 29 Taxes payable -- -- -- 142.3 110.0 -- 153.9 -- 263.9 142.3 -- -77.5 -- 30 Equity in noncorp. business 7512.0 -- -- 7499.0 -- -- -- -- 7512.0 7499.0 -- 13.0 -- 31 Miscellaneous 877.2 24.3 12710.4 4930.1 149.2 -- 143.1 1438.3 13879.9 6392.7 9039.5 7707.5 4814.2 General notes: A = assets; L = liabilities. Domestic nonfinancial sectors (columns 9 and 10) are households and nonprofit organizations, nonfinancial business, state and local governments, and federal government. Equity included in line 2 is the sum of corporate equities (line 25) and equity in noncorporate business (line 32). The matrix shows a discrepancy in column 17 for monetary gold (line 4) because by international accounting convention, monetary gold is a financial asset without a corresponding liability.