F E D E R A L RE S E R V E S T A T I S T I C A L RE L E A S E

For use at 12:00 p.m., eastern time 

September 25, 2013 

Z.1 

Financial Accounts 

of the United States 

Flow of Funds, Balance Sheets, 

and Integrated Macroeconomic Accounts

Historical Annual Tables 

1985–1994

 

B O A R D O F G O V E R N O R S O F T H E F E D E R A L R E S E R V E S Y S T E M
 
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Title Table Page 

Summaries 

Total Credit Market Borrowing and Lending F.1 1 

Credit Market Borrowing by Nonfinancial Sectors F.2 2 

Credit Market Borrowing by Financial Sectors F.3 2 

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

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

Credit Market Debt Outstanding L.1 4 

Credit Market Debt Owed by Nonfinancial Sectors L.2 5 

Credit Market Debt Owed by Financial Sectors L.3 5 

Credit Market Debt, All Sectors, by Instrument L.4 6 

Total Liabilities and Its Relation to Total Financial Assets L.5 6 

Distribution of Gross Domestic Product F.6 7 

Distribution of National Income F.7 8 

Saving and Investment F.8 9 

Net Capital Transfers F.9 10 

Derivation of Measures of Personal Saving F.10 11 

Assets and Liabilities of the Personal Sector L.10 12 

Title 

Flows Levels 

Table Page Table Page 

Sectors

Households and Nonprofit Organizations F.100 13 L.100 61 

Nonfinancial Business F.101 14 L.101 62 

Nonfinancial Corporate Business F.102 15 L.102 63 

Nonfinancial Noncorporate Business F.103 16 L.103 64 

State and Local Governments F.104 17 L.104 65 

Federal Government F.105 18 L.105 66 

Rest of the World F.106 19 L.106 67 

Financial Business F.107 20 L.107 68 

Monetary Authority F.108 21 L.108 69 

Private Depository Institutions F.109 22 L.109 70 

List of Data Tables 
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Sectors

U.S.-Chartered Depository Institutions, ex. Credit 

Unions F.110 23 L.110 71 

Foreign Banking Offices in U.S. F.111 24 L.111 72 

Banks in U.S.-Affiliated Areas F.112 25 L.112 73 

Credit Unions F.113 25 L.113 73 

Property-Casualty Insurance Companies F.114 26 L.114 74 

Life Insurance Companies F.115 26 L.115 75 

Private and Public Pension Funds F.116 27 L.116 73 

Private Pension Funds F.117 28 L.117 76 

State and Local Government Employee Retirement 

Funds F.118 29 L.118 77 

Federal Government Employee Retirement Funds F.119 29 L.119 77 

Money Market Mutual Funds F.120 30 L.120 78 

Mutual Funds F.121 30 L.121 78 

Closed-End and Exchange-Traded Funds F.122 30 L.122 78 

Government-Sponsored Enterprises F.123 31 L.123 79 

Agency- and GSE-Backed Mortgage Pools F.124 31 L.124 79 

Issuers of Asset-Backed Securities F.125 32 L.125 80 

Finance Companies F.126 32 L.126 80 

Real Estate Investment Trusts F.127 33 L.127 80 

Security Brokers and Dealers F.128 34 L.128 81 

Holding Companies F.129 35 L.129 82 

Funding Corporations F.130 36 L.130 84 

Instruments 

U.S. Official Reserve Assets and SDR Allocations F.200 37 L.200 85 

Special Drawing Rights (SDRs) Certificates and Treasury 

Currency F.201 37 L.201 85 

U.S. Deposits in Foreign Countries F.202 37 L.202 85 

Net Interbank Transactions F.203 38 L.203 86 

Checkable Deposits and Currency F.204 39 L.204 87 

Time and Savings Deposits F.205 40 L.205 88 

Money Market Mutual Fund Shares F.206 40 L.206 88 

Federal Funds and Security Repurchase Agreements F.207 41 L.207 89 

Open Market Paper F.208 42 L.208 90 

Treasury Securities F.209 43 L.209 91 
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Instruments 

Agency- and GSE-Backed Securities F.210 44 L.210 92 

Municipal Securities and Loans F.211 45 L.211 93 

Corporate and Foreign Bonds F.212 46 L.212 94 

Corporate Equities F.213 47 L.213 95 

Mutual Fund Shares F.214 47 L.214 95 

Depository Institution Loans Not Elsewhere Classified F.215 48 L.215 96 

Other Loans and Advances F.216 49 L.216 97 

Total Mortgages F.217 50 L.217 98 

Home Mortgages F.218 51 L.218 99 

Multifamily Residential Mortgages F.219 51 L.219 99 

Commercial Mortgages F.220 52 L.220 100 

Farm Mortgages F.221 52 L.221 100 

Consumer Credit F.222 53 L.222 101 

Trade Credit F.223 54 L.223 102 

Security Credit F.224 54 L.224 102 

Life Insurance Reserves F.225 55 L.225 103 

Pension Entitlements F.226 55 L.226 103 

Taxes Payable by Businesses F.227 55 L.227 103 

Proprietors' Equity in Noncorporate Business F.228 55 L.228 103 

Total Miscellaneous Financial Claims F.229 56 L.229 104 

Identified Miscellaneous Financial Claims - Part I F.230 57 L.230 105 

Identified Miscellaneous Financial Claims - Part II F.231 58 L.231 106 

Unidentified Miscellaneous Financial Claims F.232 59 L.232 107 

Sector Discrepancies F.11 60 

Instrument Discrepancies F.12 60 

Title 

Balance Sheet Reconciliation 

Table Page Table Page 

Balance Sheet and Changes in Net Worth 

Households and Nonprofit Organizations B.100 108 R.100 111 

Nonfinancial Corporate Business B.102 109 R.102 112 

Nonfarm Noncorporate Business B.103 110 R.103 113 

 
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Title 

Flows Levels 

Table Page Table Page 

Supplementary Tables 

Balance Sheet of Households and Nonprofit 

Organizations with Equity Detail B.100.e 114 

Consolidated Statement for Federal, State, and Local 

Governments F.105.c 115 L.105.c 116 

Private Pension Funds: Defined Benefit Plans F.117.b 117 L.117.b 118 

Private Pension Funds: Defined Contribution Plans F.117.c 117 L.117.c 118 

Individual Retirement Accounts (IRAs F.226.i 117 L.226.i 118 

Equity Real Estate Investment Trusts F.127.e 119 L.127.e 120 

Mortgage Real Estate Investment Trusts F.127.m 119 L.127.m 120 

Title Table Page 

Integrated Macroeconomic Accounts for the United States 

Total Economy–Current Account S.1.a 121 

Selected Aggregates for Total Economy and Sectors S.2.a 122 

Households and Nonprofit Institutions Serving Households S.3.a 124 

Nonfinancial Noncorporate Business S.4.a 127 

Nonfinancial Corporate Business S.5.a 130 

Financial Business S.6.a 133 

Federal Government S.7.a 136 

State and Local Governments S.8.a 139 

Rest of the World S.9.a 142 
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Historical Annuals, 1985-1994, 1

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

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Credit market borrowing 1162.0 1184.8 1019.3 1041.6 920.2 890.0 641.6 775.0 1030.0 1093.0 1

 2 Domestic nonfinancial sectors 957.7 845.0 721.3 784.4 685.3 658.4 473.4 514.3 667.3 639.8 2

 3 Household sector 313.8 258.1 264.3 270.4 276.8 233.2 183.3 203.2 239.4 324.3 3

 4 Nonfinancial corporate business 184.2 229.5 164.6 224.4 166.4 130.9 -53.1 17.1 134.4 190.8 4

 5 Nonfinancial noncorporate business 70.4 67.1 58.0 84.1 48.4 0.3 -26.2 -26.5 -20.7 14.4 5

 6 State and local governments 163.6 74.2 90.4 50.4 47.4 47.1 91.2 16.5 57.9 -45.5 6

 7 Federal government 225.7 216.0 143.9 155.1 146.4 246.9 278.2 304.0 256.1 155.9 7

 8 Rest of the world 1.2 9.7 6.3 7.4 10.2 23.9 15.1 24.1 69.8 -11.2 8

 9 Financial sectors 203.2 330.1 291.8 249.8 224.8 207.8 153.1 236.5 292.9 464.4 9

 10 U.S.-chartered depository institutions 13.4 19.1 29.8 17.8 -16.3 -29.7 -45.1 4.5 21.5 24.4 10

 11 Foreign banking offices in U.S. 1.5 2.8 6.6 0.5 1.0 -0.9 -9.6 -3.8 -5.1 -2.6 11

 12 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.2 12

 13 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.3 13

 14 Government-sponsored enterprises 21.7 14.9 29.5 44.9 25.2 17.0 9.2 40.7 80.6 172.1 14

 15 Agency- and GSE-backed mortgage pools 78.9 164.3 137.8 75.9 124.3 150.3 136.6 115.6 84.7 115.3 15

 16 ABS issuers 15.8 37.5 43.6 36.1 26.9 59.4 53.8 56.3 82.5 70.3 16

 17 Finance companies 41.9 60.5 12.0 24.0 37.5 23.1 13.6 4.9 -1.3 37.2 17

 18 REITs 1.3 5.7 8.0 3.5 2.1 0.8 0.9 -0.4 1.7 10.2 18

 19 Brokers and dealers 0.3 2.1 -0.1 4.3 6.3 1.5 3.7 2.7 12.0 0.5 19

 20 Holding companies 17.7 11.4 15.0 4.9 5.3 -30.6 -6.1 -0.1 9.6 13.5 20

 21 Funding corporations 10.7 12.0 9.7 38.0 12.5 16.8 -4.0 16.2 6.3 23.1 21

 22 Credit market lending 1162.0 1184.8 1019.3 1041.6 920.2 890.0 641.6 775.0 1030.0 1093.0 22

 23 Domestic nonfinancial sectors 325.1 119.5 233.3 238.5 163.1 273.1 164.6 60.1 96.8 288.0 23

 24 Household sector 149.0 42.5 191.8 183.6 99.5 229.8 81.6 42.7 81.9 324.1 24

 25 Nonfinancial corporate business 16.9 -5.6 -0.8 19.0 32.2 -26.1 30.7 27.8 9.1 17.7 25

 26 Nonfinancial noncorporate business 4.9 2.7 -7.7 10.5 -11.1 -3.5 -5.3 -0.1 -1.2 6.8 26

 27 State and local governments 136.6 70.2 57.8 34.9 45.5 39.3 47.2 1.7 32.6 -55.0 27

 28 Federal government 17.8 9.7 -7.9 -9.5 -3.0 33.6 10.5 -11.9 -25.6 -5.6 28

 29 Rest of the world 67.4 105.7 60.9 108.3 82.9 87.3 15.5 97.2 129.3 132.3 29

 30 Financial sectors 769.5 959.6 725.1 694.7 674.3 529.6 461.4 617.7 803.8 672.7 30

 31 Monetary authority 18.4 19.4 21.0 14.8 -7.9 8.1 31.1 27.9 36.2 31.5 31

 32 U.S.-chartered depository institutions 240.0 256.6 216.7 226.8 48.2 -69.9 -122.5 -9.5 126.9 153.8 32

 33 Foreign banking offices in U.S. 16.4 35.0 34.1 29.3 26.8 28.4 48.5 16.6 -10.1 11.3 33

 34 Banks in U.S.-affiliated areas 2.7 0.9 0.1 0.8 1.6 4.5 -1.9 3.7 2.4 3.3 34

 35 Credit unions 13.4 15.5 17.5 17.5 7.1 10.6 12.8 17.7 21.7 28.1 35

 36 Property-casualty insurance companies 28.6 39.5 40.1 30.9 28.7 28.5 27.4 10.4 27.1 23.4 36

 37 Life insurance companies 76.5 87.9 88.6 103.1 100.1 107.2 80.8 79.5 100.4 72.0 37

 38 Private pension funds 23.1 4.6 13.6 22.0 51.6 43.5 25.4 26.0 36.2 39.7 38

 39 State and local govt. retirement funds 19.2 44.7 31.7 21.8 30.9 20.5 2.6 37.1 26.9 10.1 39

 40 Federal government retirement funds 0.0 0.0 1.1 1.6 2.1 2.5 2.6 3.0 3.1 3.7 40

 41 Money market mutual funds 14.0 34.9 1.9 10.5 68.3 77.5 32.7 4.7 20.4 30.0 41

 42 Mutual funds 76.1 129.9 31.3 13.3 22.7 36.2 80.1 126.2 159.5 -7.1 42

 43 Closed-end funds 1.4 2.9 4.0 17.9 6.6 1.3 12.8 20.2 20.0 -3.7 43

 44 Exchange-traded funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 44

 45 Government-sponsored enterprises 25.1 16.6 23.4 33.3 -4.3 14.0 15.0 69.3 88.5 121.2 45

 46 Agency- and GSE-backed mortgage pools 78.9 164.3 137.8 75.9 124.3 150.3 136.6 115.6 84.7 115.3 46

 47 ABS issuers 15.0 36.7 41.8 34.4 25.0 50.4 49.2 52.1 79.9 63.2 47

 48 Finance companies 50.7 56.7 38.4 45.0 55.4 27.5 7.7 2.4 -7.3 32.0 48

 49 REITs 2.6 5.0 7.5 4.3 0.6 -1.8 -0.6 1.4 0.4 -0.7 49

 50 Brokers and dealers 4.1 8.1 -35.0 -16.3 80.2 2.8 17.5 -1.3 14.8 -44.2 50

 51 Holding companies 3.7 -0.3 2.0 -0.1 2.8 -2.8 -1.5 5.6 -0.0 0.9 51

 52 Funding corporations 59.7 0.8 7.8 8.0 3.6 -10.0 5.1 9.2 -27.9 -11.0 52

(1) Excludes corporate equities and mutual fund shares.
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2 Historical Annuals, 1985-1994,

F.2 Credit Market Borrowing by Nonfinancial Sectors

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Domestic 957.7 845.0 721.3 784.4 685.3 658.4 473.4 514.3 667.3 639.8 1

 2 By instrument 957.7 845.0 721.3 784.4 685.3 658.4 473.4 514.3 667.3 639.8 2

 3 Commercial paper 14.6 -9.3 1.6 11.9 21.4 9.7 -18.4 8.6 10.0 21.4 3

 4 Treasury securities 225.8 215.6 142.4 137.7 144.7 238.7 292.0 303.8 248.3 155.7 4

 5 Agency- and GSE-backed securities -0.0 0.4 1.5 17.4 1.6 8.2 -13.8 0.2 7.8 0.2 5

 6 Municipal securities 208.2 59.9 91.6 55.4 49.8 48.8 93.5 23.3 66.3 -35.9 6

 7 Corporate bonds 83.2 127.1 78.8 103.1 73.8 47.1 78.8 67.6 183.4 90.6 7

 8 Depository institution loans n.e.c. 51.0 65.5 13.2 44.2 25.7 -6.2 -48.4 -21.9 5.9 72.4 8

 9 Other loans and advances 31.3 43.2 39.1 45.9 56.3 71.0 -48.5 13.1 -29.4 46.1 9

 10 Mortgages 259.8 286.8 320.9 322.3 264.8 225.9 147.1 110.4 113.6 154.4 10

 11 Home 179.9 203.3 240.3 223.8 226.4 208.2 164.4 167.4 156.6 177.2 11

 12 Multifamily residential 28.5 33.4 16.7 18.1 10.4 -1.4 -3.5 -13.4 -5.9 -2.7 12

 13 Commercial 69.7 60.1 72.1 85.4 30.1 20.2 -13.7 -44.1 -37.7 -21.6 13

 14 Farm -18.3 -10.0 -8.3 -5.0 -2.1 -1.1 -0.2 0.4 0.6 1.5 14

 15 Consumer credit 84.0 55.8 32.3 46.6 47.0 15.1 -8.8 9.2 61.4 135.0 15

 16 By sector 957.7 845.0 721.3 784.4 685.3 658.4 473.4 514.3 667.3 639.8 16

 17 Household sector 313.8 258.1 264.3 270.4 276.8 233.2 183.3 203.2 239.4 324.3 17

 18 Nonfinancial business 254.6 296.7 222.6 308.5 214.8 131.2 -79.3 -9.3 113.8 205.3 18

 19 Corporate 184.2 229.5 164.6 224.4 166.4 130.9 -53.1 17.1 134.4 190.8 19

 20 Noncorporate 70.4 67.1 58.0 84.1 48.4 0.3 -26.2 -26.5 -20.7 14.4 20

 21 State and local governments 163.6 74.2 90.4 50.4 47.4 47.1 91.2 16.5 57.9 -45.5 21

 22 Federal government 225.7 216.0 143.9 155.1 146.4 246.9 278.2 304.0 256.1 155.9 22

 23 Foreign borrowing in U.S. 1.2 9.7 6.3 7.4 10.2 23.9 15.1 24.1 69.8 -11.2 23

 24 Commercial paper 6.2 11.5 3.8 8.7 13.1 12.3 6.8 5.6 -9.6 -26.1 24

 25 Bonds 3.8 3.1 7.4 6.9 4.9 21.4 15.0 16.8 82.9 14.9 25

 26 Depository institution loans n.e.c. -2.8 -1.0 -3.6 -1.8 -0.1 -2.9 3.1 2.3 0.7 1.4 26

 27 Other loans and advances -6.0 -3.9 -1.4 -6.4 -7.6 -7.0 -9.8 -0.6 -4.2 -1.4 27

 28 Domestic and foreign 958.9 854.7 727.5 791.8 695.5 682.2 488.5 538.4 737.1 628.6 28

F.3 Credit Market Borrowing by Financial Sectors

Billions of dollars

 1 By instrument 203.2 330.1 291.8 249.8 224.8 207.8 153.1 236.5 292.9 464.4 1

 2 Open market paper 32.0 24.2 26.9 54.8 31.3 8.6 -32.3 -1.1 -5.5 40.5 2

 3 GSE issues 20.6 15.2 30.2 44.9 25.2 17.1 9.2 40.7 80.6 176.9 3

 4 Agency- and GSE-backed mortgage pool sec. 78.9 164.3 137.8 75.9 124.3 150.3 136.6 115.6 84.7 115.3 4

 5 Corporate bonds 56.5 92.3 78.6 52.2 40.8 54.5 72.0 83.0 120.2 115.5 5

 6 Depository institution loans n.e.c. -1.1 13.7 -7.1 2.3 13.2 0.6 4.4 -1.6 -13.0 -11.3 6

 7 Other loans and advances 16.2 20.2 25.0 19.4 -10.5 -24.0 -37.3 -0.6 22.4 17.8 7

 8 Mortgages 0.1 0.3 0.3 0.3 0.3 0.6 0.5 0.6 3.6 9.8 8

 9 By sector 203.2 330.1 291.8 249.8 224.8 207.8 153.1 236.5 292.9 464.4 9

 10 U.S.-chartered depository institutions 13.4 19.1 29.8 17.8 -16.3 -29.7 -45.1 4.5 21.5 24.4 10

 11 Foreign banking offices in U.S. 1.5 2.8 6.6 0.5 1.0 -0.9 -9.6 -3.8 -5.1 -2.6 11

 12 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.2 12

 13 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.3 13

 14 Government-sponsored enterprises 21.7 14.9 29.5 44.9 25.2 17.0 9.2 40.7 80.6 172.1 14

 15 Agency- and GSE-backed mortgage pools 78.9 164.3 137.8 75.9 124.3 150.3 136.6 115.6 84.7 115.3 15

 16 ABS issuers 15.8 37.5 43.6 36.1 26.9 59.4 53.8 56.3 82.5 70.3 16

 17 Finance companies 41.9 60.5 12.0 24.0 37.5 23.1 13.6 4.9 -1.3 37.2 17

 18 REITs 1.3 5.7 8.0 3.5 2.1 0.8 0.9 -0.4 1.7 10.2 18

 19 Brokers and dealers 0.3 2.1 -0.1 4.3 6.3 1.5 3.7 2.7 12.0 0.5 19

 20 Holding companies 17.7 11.4 15.0 4.9 5.3 -30.6 -6.1 -0.1 9.6 13.5 20

 21 Funding corporations 10.7 12.0 9.7 38.0 12.5 16.8 -4.0 16.2 6.3 23.1 21
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Historical Annuals, 1985-1994, 3

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

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total 1162.0 1184.8 1019.3 1041.6 920.2 890.0 641.6 775.0 1030.0 1093.0 1

 2 Open market paper 52.8 26.4 32.3 75.4 65.9 30.7 -44.0 13.1 -5.1 35.7 2

 3 Treasury securities 225.8 215.6 142.4 137.7 144.7 238.7 292.0 303.8 248.3 155.7 3

 4 Agency- and GSE-backed securities 99.4 179.9 169.5 138.2 151.1 175.6 132.0 156.5 173.1 292.3 4

 5 Municipal securities 208.2 59.9 91.6 55.4 49.8 48.8 93.5 23.3 66.3 -35.9 5

 6 Corporate and foreign bonds 143.4 222.5 164.7 162.2 119.5 123.0 165.7 167.4 386.5 221.0 6

 7 Depository institution loans n.e.c. 47.1 78.2 2.5 44.7 38.8 -8.4 -40.9 -21.2 -6.5 62.5 7

 8 Other loans and advances 41.6 59.5 62.7 58.9 38.3 40.0 -95.6 11.9 -11.2 62.5 8

 9 Mortgages 259.8 287.0 321.2 322.6 265.1 226.5 147.5 111.0 117.2 164.2 9

 10 Consumer credit 84.0 55.8 32.3 46.6 47.0 15.1 -8.8 9.2 61.4 135.0 10

 Memo:

 Funds raised through corporate equities and mutual fund shares

 11 Total net issues 16.1 84.2 -2.6 -107.1 -75.9 4.8 205.1 290.1 427.8 113.7 11

 12 Corporate equities -70.4 -69.1 -62.8 -105.5 -103.3 -48.9 71.2 99.6 135.8 13.1 12

 13 Nonfinancial -84.5 -85.0 -75.5 -129.5 -124.2 -63.0 18.3 27.0 21.3 -44.9 13

 Foreign shares purchased by

 14 U.S. residents 3.7 1.2 -2.1 1.1 17.2 7.4 30.7 32.4 63.4 48.1 14

 15 Financial 10.5 14.7 14.9 22.9 3.6 6.7 22.3 40.2 51.1 9.9 15

 16 Mutual fund shares 86.5 153.3 60.2 -1.6 27.4 53.7 133.9 190.5 292.0 100.6 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) 1162.0 1184.8 1019.3 1041.6 920.2 890.0 641.6 775.0 1030.0 1093.0 1

 2 U.S. official reserve assets 3.9 -0.3 -9.1 3.9 25.3 2.2 -5.8 -3.9 1.4 -5.3 2

 3 SDR certificates 0.1 0.3 0.0 0.0 3.5 1.5 0.0 -2.0 0.0 0.0 3

 4 Treasury currency 0.4 0.5 0.5 0.5 0.6 1.0 0.0 0.2 0.4 0.7 4

 5 Foreign deposits 7.1 27.6 8.6 14.7 29.1 27.9 -26.5 -3.4 -18.5 52.9 5

 6 Net interbank transactions 25.8 24.0 41.6 4.4 -10.7 27.6 -3.0 42.7 54.9 105.5 6

 7 Checkable deposits and currency 83.8 125.4 4.0 42.3 7.0 42.6 87.8 112.1 117.3 -11.8 7

 8 Small time and savings deposits 140.4 130.0 76.6 122.7 98.9 63.9 1.6 -57.2 -70.4 -37.4 8

 9 Large time deposits 17.1 3.6 49.8 53.2 16.9 -66.1 -58.5 -73.2 -23.5 19.6 9

 10 Money market fund shares 10.2 48.2 23.2 21.2 89.7 68.6 41.6 4.5 20.2 40.5 10

 11 Security RPs 24.0 48.6 -9.5 22.0 73.5 -25.5 -13.7 38.5 67.3 72.5 11

 12 Corporate equities -70.4 -69.1 -62.8 -105.5 -103.3 -48.9 71.2 99.6 135.8 13.1 12

 13 Mutual fund shares 86.5 153.3 60.2 -1.6 27.4 53.7 133.9 190.5 292.0 100.6 13

 14 Trade payables 66.1 21.2 73.4 91.8 62.9 41.6 43.3 59.1 68.7 108.5 14

 15 Security credit 43.3 9.9 -27.4 3.0 15.6 3.5 51.4 4.6 61.4 -0.1 15

 16 Life insurance reserves 11.5 18.3 26.9 26.1 29.6 26.5 26.8 29.1 37.1 35.5 16

 17 Pension entitlements 231.0 230.1 225.1 284.5 267.3 300.2 301.8 333.8 359.2 339.1 17

 18 Taxes payable 1.3 6.9 3.6 0.8 -2.1 2.1 -7.9 7.3 5.8 0.2 18

 19 Noncorporate proprietors’ equity -16.9 -5.6 -25.0 -29.8 -32.3 23.5 30.7 33.2 49.4 47.0 19

 20 Miscellaneous 520.6 228.3 348.6 546.9 628.4 249.1 352.8 391.1 366.9 349.0 20

 21 Total financial sources 2347.9 2186.0 1827.6 2142.8 2147.6 1685.0 1669.3 1981.5 2555.4 2323.1 21

 - Liabilities not identified as assets:

 22 Treasury currency -0.2 -0.0 -0.1 -0.1 -0.3 0.2 -0.6 -0.2 -0.2 -0.2 22

 23 Foreign deposits 5.7 20.5 12.2 0.5 38.4 25.9 -24.0 -2.8 -5.8 42.9 23

 24 Net interbank liabilities 0.9 -8.8 -4.2 1.2 0.0 -2.6 20.9 -5.7 6.3 5.1 24

 25 Security RPs -20.6 13.0 -19.1 8.2 11.6 -57.2 -43.7 3.9 40.0 58.9 25

 26 Taxes payable 3.4 5.9 9.3 3.9 -1.3 7.9 -2.7 7.7 11.6 5.2 26

 27 Miscellaneous 182.9 -113.1 -129.6 -17.2 131.4 -111.9 -47.4 -18.4 -203.8 -244.4 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. 1.3 -0.6 -0.0 1.6 8.4 3.3 -13.1 0.7 -1.5 -4.8 29

 30 Private domestic 0.7 -8.9 0.4 0.8 -2.2 8.5 4.5 1.6 -1.3 -2.8 30

 31 Trade credit 5.6 5.2 -9.1 -26.2 0.0 -8.0 48.3 22.1 6.7 8.0 31

 Totals identified to sectors

 32 as assets 2168.2 2272.8 1967.7 2170.1 1961.4 1819.1 1727.0 1972.7 2703.4 2455.2 32
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L.1 Credit Market Debt Outstanding (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total credit market debt owed by: 8612.0 9801.5 10814.8 11856.3 12830.0 13757.1 14412.3 15204.0 16280.2 17373.7 1

 2 Domestic nonfinancial sectors 7110.6 7953.0 8656.1 9437.0 10139.3 10825.1 11295.2 11812.7 12494.8 13140.9 2

 3 Household sector 2277.7 2534.2 2752.5 3039.8 3309.2 3571.6 3758.5 3961.7 4203.5 4527.0 3

 4 Nonfinancial corporate business 1632.1 1860.6 2053.0 2257.3 2448.4 2577.4 2519.7 2540.0 2686.9 2884.8 4

 5 Nonfinancial noncorporate business 933.0 1000.2 1058.2 1141.9 1190.2 1190.5 1162.0 1135.5 1114.9 1129.3 5

 6 State and local governments 677.9 752.1 842.6 893.0 940.4 987.4 1078.6 1095.1 1153.0 1107.5 6

 7 Federal government 1589.9 1805.9 1949.8 2104.9 2251.2 2498.1 2776.4 3080.3 3336.5 3492.3 7

 8 Rest of the world 242.5 251.9 259.0 269.8 287.9 318.2 350.4 372.4 468.2 443.1 8

 9 Financial sectors 1259.0 1596.6 1899.7 2149.5 2402.8 2613.8 2766.8 3018.9 3317.2 3789.7 9

 10 U.S.-chartered depository institutions 158.3 177.3 207.1 224.9 208.6 178.9 133.8 138.3 159.7 184.1 10

 11 Foreign banking offices in U.S. 24.4 27.2 33.8 34.4 35.4 34.5 24.9 21.2 16.0 13.4 11

 12 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.5 12

 13 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.6 13

 14 Government-sponsored enterprises 263.9 278.7 308.2 353.1 378.3 398.5 407.7 448.4 529.0 701.0 14

 15 Agency- and GSE-backed mortgage pools 367.9 531.6 669.4 745.3 869.5 1019.9 1156.5 1272.0 1356.8 1472.4 15

 16 ABS issuers 37.2 74.7 118.3 154.4 209.8 269.2 323.0 385.5 468.0 538.3 16

 17 Finance companies 241.0 301.5 313.6 337.5 375.0 398.1 411.7 416.6 415.3 452.5 17

 18 REITs 7.6 13.3 21.3 24.8 26.9 27.7 28.6 28.2 29.9 40.0 18

 19 Brokers and dealers 1.3 3.4 3.2 7.5 13.8 15.3 19.0 21.7 33.7 34.3 19

 20 Holding companies 118.7 130.0 145.0 149.9 155.2 124.6 118.5 118.4 128.0 141.5 20

 21 Funding corporations 38.7 58.7 79.7 117.8 130.3 147.1 143.1 168.6 180.3 211.0 21

 22 Total credit market assets held by: 8612.0 9801.5 10814.8 11856.3 12830.0 13757.1 14412.3 15204.0 16280.2 17373.7 22

 23 Domestic nonfinancial sectors 1904.6 2015.3 2224.9 2469.2 2625.6 2930.6 3094.8 3173.8 3316.4 3662.4 23

 24 Household sector 967.4 1001.0 1176.4 1381.8 1479.6 1741.2 1824.9 1886.5 1995.5 2377.5 24

 25 Nonfinancial corporate business 180.7 175.1 174.3 193.3 225.5 199.4 230.0 257.8 271.5 289.2 25

 26 Nonfinancial noncorporate business 49.7 55.4 47.7 58.2 47.1 43.6 38.3 38.1 36.9 43.7 26

 27 State and local governments 455.6 525.8 583.6 618.6 664.1 703.4 750.6 752.3 784.9 729.9 27

 28 Federal government 251.2 258.0 242.8 217.4 209.4 243.1 251.0 239.0 227.5 222.1 28

 29 Rest of the world 419.9 536.4 586.5 689.1 815.8 881.7 909.6 983.1 1095.0 1162.8 29

 30 Financial sectors 6287.5 7249.8 8003.4 8698.0 9388.6 9944.7 10408.0 11047.2 11868.8 12548.5 30

 31 Monetary authority 186.0 205.5 226.5 241.2 233.3 241.4 272.5 300.4 336.7 368.2 31

 32 U.S.-chartered depository institutions 2933.7 3190.3 3409.2 3634.5 3678.8 3633.6 3506.8 3500.4 3627.4 3781.1 32

 33 Foreign banking offices in U.S. 117.1 152.0 186.1 215.4 242.2 270.6 319.2 335.8 325.7 337.1 33

 34 Banks in U.S.-affiliated areas 13.7 14.6 14.7 15.5 17.1 21.6 19.7 23.4 25.8 29.2 34

 35 Credit unions 98.4 113.9 131.3 148.8 156.0 166.6 179.4 197.1 218.7 246.8 35

 36 Property-casualty insurance companies 191.8 234.6 274.6 306.0 335.6 364.2 394.1 410.6 443.3 465.6 36

 37 Life insurance companies 646.6 734.5 823.1 927.2 1028.3 1134.5 1218.9 1304.4 1415.5 1487.5 37

 38 Private pension funds 329.0 333.6 347.2 369.2 420.8 464.3 489.7 515.7 551.9 591.5 38

 39 State and local govt. retirement funds 252.4 297.1 328.8 350.5 381.5 402.0 404.6 441.8 468.6 478.7 39

 40 Federal government retirement funds 0.0 0.0 1.1 2.7 4.9 7.4 10.0 13.1 16.2 19.9 40

 41 Money market mutual funds 178.2 213.1 215.0 225.5 293.7 371.3 403.9 408.6 429.0 459.0 41

 42 Mutual funds 129.9 259.9 291.1 304.5 327.2 360.1 440.2 566.4 725.9 718.8 42

 43 Closed-end funds 4.1 7.0 11.0 28.8 35.4 36.7 49.5 69.7 89.7 86.0 43

 44 Exchange-traded funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 44

 45 Government-sponsored enterprises 291.0 307.6 330.9 364.2 359.9 373.9 388.9 458.1 546.7 667.9 45

 46 Agency- and GSE-backed mortgage pools 367.9 531.6 669.4 745.3 869.5 1019.9 1156.5 1272.0 1356.8 1472.4 46

 47 ABS issuers 34.8 71.4 113.2 147.6 201.1 250.3 299.5 357.9 437.8 501.0 47

 48 Finance companies 353.2 409.9 448.3 493.3 537.3 564.8 572.5 575.0 563.1 595.1 48

 49 REITs 8.7 13.7 21.2 25.4 26.0 24.2 23.6 25.0 25.4 24.6 49

 50 Brokers and dealers 58.2 66.3 39.8 23.5 103.7 106.5 124.0 122.7 137.5 93.3 50

 51 Holding companies 11.8 11.5 13.5 13.4 16.2 13.4 11.9 17.5 17.5 18.4 51

 52 Funding corporations 81.1 82.0 107.4 115.5 120.3 117.5 122.6 131.8 109.9 106.6 52

(1) Excludes corporate equities and mutual fund shares.
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L.2 Credit Market Debt Owed by Nonfinancial Sectors

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Domestic 7110.6 7953.0 8656.1 9437.0 10139.3 10825.1 11295.2 11812.7 12494.8 13140.9 1

 2 By instrument 7110.6 7953.0 8656.1 9437.0 10139.3 10825.1 11295.2 11812.7 12494.8 13140.9 2

 3 Commercial paper 72.2 62.9 73.8 85.7 107.1 116.9 98.5 107.1 117.8 139.2 3

 4 Treasury securities 1586.6 1802.2 1944.6 2082.3 2227.0 2465.8 2757.8 3061.6 3309.9 3465.6 4

 5 Agency- and GSE-backed securities 3.2 3.6 5.1 22.6 24.2 32.4 18.6 18.8 26.6 26.7 5

 6 Municipal securities 859.5 920.4 1012.0 1080.0 1129.8 1178.6 1272.1 1295.4 1361.7 1325.8 6

 7 Corporate bonds 578.2 705.4 784.1 887.2 961.1 1008.2 1086.9 1154.5 1337.9 1428.5 7

 8 Depository institution loans n.e.c. 603.8 669.4 682.6 731.7 774.9 768.7 715.9 697.2 703.1 775.5 8

 9 Other loans and advances 431.1 470.8 502.4 532.3 583.7 653.4 602.3 615.4 586.0 638.5 9

 10 Mortgages 2365.3 2652.1 2952.8 3270.0 3522.2 3776.8 3927.5 4037.9 4165.6 4320.0 10

 11 Home 1526.2 1729.4 1927.7 2162.1 2368.9 2606.3 2774.3 2941.7 3100.7 3277.9 11

 12 Multifamily residential 205.1 238.5 257.3 273.4 285.8 286.0 282.5 269.2 264.7 262.0 12

 13 Commercial 540.0 600.1 692.0 763.7 798.8 816.9 803.2 759.1 731.8 710.2 13

 14 Farm 94.1 84.1 75.8 70.8 68.8 67.6 67.5 67.9 68.4 69.9 14

 15 Consumer credit 610.6 666.4 698.6 745.2 809.3 824.4 815.6 824.8 886.2 1021.2 15

 16 By sector 7110.6 7953.0 8656.1 9437.0 10139.3 10825.1 11295.2 11812.7 12494.8 13140.9 16

 17 Household sector 2277.7 2534.2 2752.5 3039.8 3309.2 3571.6 3758.5 3961.7 4203.5 4527.0 17

 18 Nonfinancial business 2565.1 2860.8 3111.2 3399.3 3638.6 3767.9 3681.7 3675.6 3801.8 4014.1 18

 19 Corporate 1632.1 1860.6 2053.0 2257.3 2448.4 2577.4 2519.7 2540.0 2686.9 2884.8 19

 20 Noncorporate 933.0 1000.2 1058.2 1141.9 1190.2 1190.5 1162.0 1135.5 1114.9 1129.3 20

 21 State and local governments 677.9 752.1 842.6 893.0 940.4 987.4 1078.6 1095.1 1153.0 1107.5 21

 22 Federal government 1589.9 1805.9 1949.8 2104.9 2251.2 2498.1 2776.4 3080.3 3336.5 3492.3 22

 Foreign credit market debt

 23 held in U.S. 242.5 251.9 259.0 269.8 287.9 318.2 350.4 372.4 468.2 443.1 23

 24 Commercial paper 33.9 37.4 41.2 49.9 63.0 75.3 82.1 78.4 68.8 42.7 24

 25 Bonds 75.0 85.7 93.9 104.2 116.9 144.7 176.8 200.8 309.7 310.4 25

 26 Depository institution loans n.e.c. 27.9 26.9 23.3 21.5 21.4 18.5 21.6 23.9 24.6 26.1 26

 27 Other loans and advances 105.6 101.8 100.6 94.1 86.5 79.7 69.9 69.3 65.2 63.9 27

 28 Domestic and foreign 7353.1 8204.9 8915.1 9706.8 10427.2 11143.3 11645.5 12185.1 12963.0 13584.0 28

L.3 Credit Market Debt Owed by Financial Sectors

Billions of dollars

 1 By instrument 1259.0 1596.6 1899.7 2149.5 2402.8 2613.8 2766.8 3018.9 3317.2 3789.7 1

 2 Open market paper 252.4 284.6 322.9 377.7 409.1 417.7 385.3 393.5 393.4 441.6 2

 3 GSE issues 257.8 273.0 303.2 348.1 373.3 393.7 402.9 443.6 524.2 701.0 3

 4 Agency- and GSE-backed mortgage pool sec. 367.9 531.6 669.4 745.3 869.5 1019.9 1156.5 1272.0 1356.8 1472.4 4

 5 Corporate bonds 233.1 325.4 404.0 456.1 525.5 580.0 651.9 741.2 861.4 976.9 5

 6 Depository institution loans n.e.c. 46.2 59.9 52.8 55.1 68.4 69.0 73.4 71.8 58.8 47.5 6

 7 Other loans and advances 99.0 119.3 144.3 163.7 153.3 129.2 91.9 91.3 113.7 131.6 7

 8 Mortgages 2.5 2.8 3.1 3.4 3.7 4.3 4.8 5.4 8.9 18.7 8

 9 By sector 1259.0 1596.6 1899.7 2149.5 2402.8 2613.8 2766.8 3018.9 3317.2 3789.7 9

 10 U.S.-chartered depository institutions 158.3 177.3 207.1 224.9 208.6 178.9 133.8 138.3 159.7 184.1 10

 11 Foreign banking offices in U.S. 24.4 27.2 33.8 34.4 35.4 34.5 24.9 21.2 16.0 13.4 11

 12 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.5 12

 13 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.6 13

 14 Government-sponsored enterprises 263.9 278.7 308.2 353.1 378.3 398.5 407.7 448.4 529.0 701.0 14

 15 Agency- and GSE-backed mortgage pools 367.9 531.6 669.4 745.3 869.5 1019.9 1156.5 1272.0 1356.8 1472.4 15

 16 ABS issuers 37.2 74.7 118.3 154.4 209.8 269.2 323.0 385.5 468.0 538.3 16

 17 Finance companies 241.0 301.5 313.6 337.5 375.0 398.1 411.7 416.6 415.3 452.5 17

 18 REITs 7.6 13.3 21.3 24.8 26.9 27.7 28.6 28.2 29.9 40.0 18

 19 Brokers and dealers 1.3 3.4 3.2 7.5 13.8 15.3 19.0 21.7 33.7 34.3 19

 20 Holding companies 118.7 130.0 145.0 149.9 155.2 124.6 118.5 118.4 128.0 141.5 20

 21 Funding corporations 38.7 58.7 79.7 117.8 130.3 147.1 143.1 168.6 180.3 211.0 21
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L.4 Credit Market Debt, All Sectors, by Instrument

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total 8612.0 9801.5 10814.8 11856.3 12830.0 13757.1 14412.3 15204.0 16280.2 17373.7 1

 2 Open market paper 358.5 384.9 437.9 513.4 579.2 609.9 565.9 579.0 580.0 623.5 2

 3 Treasury securities 1586.6 1802.2 1944.6 2082.3 2227.0 2465.8 2757.8 3061.6 3309.9 3465.6 3

 4 Agency- and GSE-backed securities 628.9 808.2 977.8 1116.0 1267.1 1445.9 1577.9 1734.4 1907.5 2200.2 4

 5 Municipal securities 859.5 920.4 1012.0 1080.0 1129.8 1178.6 1272.1 1295.4 1361.7 1325.8 5

 6 Corporate and foreign bonds 886.4 1116.4 1282.0 1447.6 1603.5 1732.8 1915.6 2096.5 2509.0 2715.8 6

 7 Depository institution loans n.e.c. 678.0 756.2 758.7 808.3 864.7 856.2 811.0 793.0 786.5 849.1 7

 8 Other loans and advances 635.8 691.9 747.3 790.2 823.5 862.3 764.1 776.0 764.9 833.9 8

 9 Mortgages 2367.9 2654.9 2955.9 3273.4 3526.0 3781.1 3932.3 4043.3 4174.6 4338.8 9

 10 Consumer credit 610.6 666.4 698.6 745.2 809.3 824.4 815.6 824.8 886.2 1021.2 10

 Memo:

 Selected claims not included above:

 11 Corporate equities 2270.4 2682.2 2710.3 3075.6 3813.0 3531.3 4847.8 5422.0 6296.9 6317.5 11

 12 Mutual fund shares 245.9 426.5 480.2 500.5 589.6 608.4 769.5 992.5 1375.4 1477.3 12

L.5 Total Liabilities and Its Relation to Total Financial Assets

Billions of dollars

 Total credit market debt

 1 (from table L.4) 8612.0 9801.5 10814.8 11856.3 12830.0 13757.1 14412.3 15204.0 16280.2 17373.7 1

 2 U.S. official reserve assets 37.5 43.4 41.7 43.3 70.0 79.2 73.7 67.0 69.1 70.4 2

 3 SDR certificates 4.7 5.0 5.0 5.0 8.5 10.0 10.0 8.0 8.0 8.0 3

 4 Treasury currency 13.3 13.8 14.2 14.7 15.3 16.3 16.3 16.5 17.0 17.6 4

 5 Foreign deposits 148.5 179.9 213.3 228.7 266.8 297.9 273.5 267.7 271.8 373.9 5

 6 Net interbank liabilities -0.9 21.6 52.2 56.3 46.0 74.6 72.4 107.8 162.3 268.3 6

 7 Checkable deposits and currency 713.5 838.9 842.9 885.1 892.2 934.7 1022.5 1134.7 1252.0 1240.2 7

 8 Small time and savings deposits 1853.1 1978.9 2048.3 2187.4 2285.3 2349.2 2350.8 2293.6 2223.2 2185.8 8

 9 Large time deposits 488.5 492.1 541.9 595.1 613.0 546.9 488.4 415.2 391.7 411.2 9

 10 Money market fund shares 242.4 290.6 313.8 335.0 424.7 493.3 535.0 539.5 559.6 600.1 10

 11 Security RPs 235.6 281.7 277.7 303.2 376.7 351.2 337.5 377.0 444.4 516.9 11

 12 Mutual fund shares 245.9 426.5 480.2 500.5 589.6 608.4 769.5 992.5 1375.4 1477.3 12

 13 Security credit 131.2 141.1 115.3 118.3 133.9 137.4 188.9 217.7 279.0 279.0 13

 14 Life insurance reserves 264.3 282.6 309.5 335.7 365.3 391.7 418.6 447.7 484.8 520.3 14

 15 Pension entitlements 2847.1 3130.2 3400.4 3701.0 4141.8 4435.1 4846.8 5342.6 5774.1 6095.9 15

 16 Trade payables 753.2 761.3 834.7 934.5 997.5 1039.1 1085.0 1144.1 1212.8 1321.3 16

 17 Taxes payable 69.4 76.3 80.0 80.8 78.7 80.9 73.0 80.2 86.0 86.2 17

 18 Miscellaneous 3790.4 3942.9 4235.7 4673.5 5116.0 5368.5 5691.9 6272.7 6642.1 7029.0 18

 19 Total liabilities 20449.7 22708.3 24621.5 26854.6 29251.2 30971.6 32666.2 34928.6 37533.5 39875.5 19

 + Financial assets not included in

 liabilities:

 20 Gold 11.1 11.1 11.1 11.1 11.1 11.1 11.1 11.1 11.1 11.1 20

 21 Corporate equities 2270.4 2682.2 2710.3 3075.6 3813.0 3531.3 4847.8 5422.0 6296.9 6317.5 21

 22 Household equity in noncorp. bus. 2498.9 2623.3 2741.8 2889.1 3012.9 3058.1 3012.9 2988.7 3129.4 3340.6 22

 - Liabilities not identified as assets:

 23 Treasury currency -3.8 -3.8 -4.0 -4.1 -4.3 -4.1 -4.7 -4.9 -5.1 -5.3 23

 24 Foreign deposits 105.8 129.9 165.9 167.1 214.2 243.1 221.1 216.1 231.6 323.7 24

 25 Net interbank transactions -44.8 -55.1 -60.2 -59.4 -58.5 -60.3 -38.5 -44.4 -38.5 -32.8 25

 26 Security RPs 67.1 77.6 63.9 75.7 87.3 30.1 -13.6 -8.7 31.3 90.1 26

 27 Taxes payable 31.3 28.4 30.8 22.6 17.7 21.8 18.1 26.5 31.1 30.1 27

 28 Miscellaneous 71.4 -133.1 -352.9 -528.2 -566.5 -679.0 -573.2 -575.1 -677.3 -939.8 28

 - Floats not included in assets:

 29 Checkable deposits: State and local govt. 5.3 5.3 5.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

 30 Federal govt. 1.7 2.7 6.0 5.9 6.7 15.0 3.8 6.8 5.6 3.4 30

 31 Private domestic 32.0 23.0 23.4 24.3 22.1 30.5 35.1 36.6 35.4 32.6 31

 32 Trade credit -189.4 -200.2 -209.3 -227.6 -227.5 -235.5 -184.7 -162.6 -151.3 -143.3 32

 33 Totals identified to sectors as assets 25103.9 28128.7 30405.6 33365.1 36574.0 38152.2 41063.9 43732.1 47404.7 50037.8 33
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F.6 Distribution of Gross Domestic Product (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Gross Domestic Product (GDP) 4346.7 4590.1 4870.2 5252.6 5657.7 5979.6 6174.0 6539.3 6878.7 7308.7 1

 2 Personal consumption expenditures (2) 2722.7 2898.4 3092.1 3346.9 3592.8 3825.6 3960.2 4215.7 4471.0 4741.0 2

 3 Durable goods 380.4 421.4 442.0 475.1 494.3 497.1 477.2 508.1 551.5 607.2 3

 4 Nondurable goods 757.2 774.2 814.3 862.3 929.5 994.2 1020.3 1055.2 1090.8 1139.4 4

 5 Services 1585.1 1702.8 1835.8 2009.6 2169.0 2334.3 2462.7 2652.4 2828.7 2994.5 5

 6 Gross private domestic investment 829.7 849.1 892.2 937.0 999.7 993.5 944.3 1013.0 1106.8 1256.5 6

 7 Fixed investment (3) 807.8 842.6 865.0 918.5 972.0 978.9 944.7 996.7 1086.0 1192.7 7

 8 Nonresidential 607.8 607.8 615.2 662.3 716.0 739.2 723.6 741.9 799.2 868.9 8

 9 Household sector (nonprofit organizations) 28.2 30.6 35.3 38.2 41.9 45.2 47.3 49.4 48.1 49.0 9

 10 Nonfinancial corporate business 429.3 424.0 419.3 448.6 487.8 524.9 522.8 543.0 582.3 636.3 10

 11 Nonfinancial noncorporate business 85.2 82.0 86.3 93.5 94.9 80.3 72.2 68.2 79.3 86.6 11

 12 Financial institutions 65.0 71.1 74.3 81.9 91.3 88.9 81.3 81.3 89.6 96.9 12

 13 Residential 200.1 234.8 249.8 256.2 256.0 239.7 221.2 254.7 286.8 323.8 13

 14 Household sector 157.1 184.4 200.2 210.8 209.1 194.7 183.4 215.9 242.9 277.0 14

 15 Nonfinancial corporate business 1.8 2.0 2.0 1.9 1.9 1.7 1.9 -0.5 -3.0 -4.6 15

 16 Nonfinancial noncorporate business 41.1 48.2 47.4 43.4 44.8 43.1 35.7 36.8 41.7 44.3 16

 17 REITs 0.1 0.2 0.2 0.1 0.1 0.2 0.2 2.6 5.2 7.3 17

 18 Change in private inventories 21.8 6.6 27.1 18.5 27.7 14.5 -0.4 16.3 20.8 63.8 18

 19 Nonfinancial corporate business 15.7 7.5 31.4 27.9 26.3 11.7 0.7 10.1 25.1 50.2 19

 20 Nonfinancial noncorporate business 6.1 -0.9 -4.3 -9.5 1.4 2.8 -1.1 6.3 -4.3 13.5 20

 21 Net U.S. exports of goods and services -114.0 -131.9 -144.8 -109.4 -86.8 -77.9 -28.6 -34.8 -65.2 -92.5 21

 22 Exports 303.2 321.0 363.9 444.6 504.3 551.9 594.9 633.0 654.8 720.9 22

 23 - Imports 417.2 452.9 508.7 554.0 591.0 629.7 623.5 667.8 720.0 813.4 23

 Government consumption expenditures and

 24 gross investment 908.4 974.5 1030.8 1078.2 1151.9 1238.4 1298.2 1345.4 1366.1 1403.7 24

 25 Consumption expenditures (4) 688.6 736.4 776.1 819.8 881.5 948.0 1004.1 1049.3 1074.2 1109.6 25

 26 Federal 316.8 336.5 347.8 360.8 380.2 401.8 423.9 430.2 427.7 427.3 26

 27 State and local 371.8 399.9 428.3 458.9 501.3 546.2 580.1 619.0 646.5 682.2 27

 28 Gross investment (4) 219.9 238.1 254.6 258.4 270.4 290.4 294.1 296.1 291.9 294.2 28

 29 Federal 132.5 141.9 152.4 148.0 151.2 158.2 156.8 156.4 150.7 145.4 29

 30 State and local 87.3 96.2 102.2 110.4 119.2 132.2 137.3 139.7 141.2 148.8 30

 Memo:

 31 Net U.S. income receipts from rest of the world 25.4 17.0 17.5 22.7 24.8 34.7 31.6 31.1 32.0 23.9 31

 32 U.S. income receipts 112.7 111.3 123.3 152.1 177.7 188.8 168.4 152.1 155.6 184.5 32

 33 - U.S. income payments 87.3 94.4 105.8 129.5 152.9 154.2 136.8 121.0 123.6 160.7 33

 Gross National Product (GNP) =

 34 GDP + net U.S. income receipts 4372.1 4607.1 4887.7 5275.3 5682.5 6014.3 6205.6 6570.4 6910.7 7332.6 34

 Acquisition of nonproduced nonfinancial assets (net)

 35 Household sector -2.5 -2.9 -3.2 -3.4 -3.8 -4.3 -4.3 -4.3 -4.3 -4.5 35

 36 Nonfinancial corporate business 0.7 2.2 -0.5 -0.8 -0.3 -0.7 -1.7 -1.7 -1.7 -1.7 36

 37 State and local governments 3.1 3.7 4.2 4.3 4.9 5.7 5.8 5.8 5.9 6.2 37

 38 Federal governments -1.2 -3.0 -0.4 -0.2 -0.7 -0.8 0.1 0.2 0.2 0.1 38

 39 Rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -0.0 -0.0 -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) Structures, equipment, and intellectual property products.

(4) Government inventory investment is included in consumption expenditures.
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8 Historical Annuals, 1985-1994,

F.7 Distribution of National Income (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 National Income 3684.2 3848.2 4119.2 4493.4 4782.2 5036.1 5186.1 5499.7 5754.8 6140.2 1

 2 Compensation of employees 2389.0 2543.8 2724.3 2950.0 3142.6 3342.7 3452.0 3671.1 3820.7 4010.1 2

 3 Wages and other labor income 2241.2 2386.0 2558.1 2765.4 2948.9 3136.2 3236.9 3442.7 3581.0 3756.0 3

 4 Employer social insurance contributions 147.7 157.9 166.3 184.6 193.7 206.5 215.1 228.4 239.7 254.1 4

 Proprietors’ income with inventory

 5 valuation and capital consumption adjustments 241.1 256.5 286.5 325.8 341.9 354.4 356.0 402.4 430.5 459.5 5

 Rental income of persons (with capital

 6 consumption adjustment) 29.5 21.9 20.2 25.1 24.4 31.4 42.0 64.3 93.6 117.5 6

 Corporate profits with inventory

 7 valuation and capital consumption adjustments 354.5 324.4 366.0 414.9 414.2 417.2 451.3 475.3 522.0 621.9 7

 Corporate profits with inventory

 8 valuation adjustment 289.7 273.3 314.6 366.2 373.1 391.2 434.2 459.7 501.9 589.3 8

 9 Profits before tax 289.7 266.2 330.8 388.4 389.4 404.1 429.3 462.6 505.9 601.7 9

 10 Domestic nonfinancial 205.0 170.4 222.5 264.5 244.0 238.3 232.4 257.1 309.1 397.9 10

 11 Domestic financial 46.5 56.4 60.3 66.9 78.3 89.6 120.4 132.4 119.9 125.9 11

 12 Rest of the world 38.1 39.5 48.0 57.0 67.1 76.1 76.5 73.1 76.9 78.0 12

 Less:

 13 Taxes on corporate income 99.4 109.7 130.4 141.6 146.1 145.4 138.6 148.7 171.0 193.1 13

 14 Domestic nonfinancial 71.1 76.2 94.2 104.0 101.2 98.5 88.6 94.4 108.0 132.4 14

 15 Domestic financial 28.3 33.4 36.2 37.7 44.9 47.0 50.0 54.3 63.0 60.8 15

 Equals:

 16 Profits after tax 190.2 156.5 200.3 246.7 243.3 258.6 290.7 313.9 334.9 408.6 16

 17 Net dividends 97.5 106.2 112.3 129.9 158.0 169.1 180.5 189.5 205.3 236.0 17

 18 Domestic nonfinancial 72.0 72.9 76.3 82.2 105.4 118.3 125.5 134.3 149.2 158.0 18

 19 Domestic financial 13.7 15.4 19.4 15.9 21.0 25.8 30.7 27.2 35.6 39.8 19

 20 Rest of the world 11.8 17.9 16.7 31.9 31.6 25.0 24.3 28.0 20.6 38.2 20

 21 Undistributed profits 92.7 50.3 88.0 116.8 85.4 89.6 110.2 124.4 129.6 172.6 21

 22 Domestic nonfinancial 62.0 21.3 52.0 78.4 37.4 21.6 18.3 28.4 51.9 107.5 22

 23 Domestic financial 4.5 7.5 4.7 13.4 12.4 16.9 39.7 50.9 21.4 25.3 23

 24 Rest of the world 26.3 21.6 31.3 25.1 35.5 51.1 52.1 45.1 56.3 39.8 24

 25 Inventory valuation adjustment 0.0 7.1 -16.2 -22.2 -16.3 -12.9 4.9 -2.8 -4.0 -12.4 25

 26 Capital consumption adjustment 64.8 51.1 51.4 48.7 41.2 26.0 17.1 15.5 20.1 32.6 26

 27 Domestic nonfinancial 66.0 52.8 53.1 52.2 46.5 36.7 29.8 31.3 34.5 45.3 27

 28 Domestic financial -1.2 -1.7 -1.7 -3.5 -5.3 -10.7 -12.7 -15.8 -14.4 -12.7 28

 29 Net interest and miscellaneous payments 348.0 365.2 369.5 394.7 442.7 450.1 408.5 383.7 371.4 365.9 29

 30 Taxes on production and imports 308.1 323.4 347.5 374.5 398.9 425.0 457.1 483.4 503.1 545.2 30

 31 Less: Subsidies 21.4 24.9 30.3 29.5 27.4 27.0 27.5 30.1 36.7 32.5 31

 32 Business current transfer payments (net) 34.1 36.0 33.3 32.8 38.3 39.2 38.9 39.7 39.4 40.7 32

 33 Current surplus of government enterprises 1.3 2.0 2.2 5.0 6.7 3.2 7.8 9.9 10.8 11.8 33

 Memo:

 Calculation of Gross Domestic Product

 from National Income: (2)

 34 National Income, from line 1 above 3684.2 3848.2 4119.2 4493.4 4782.2 5036.1 5186.1 5499.7 5754.8 6140.2 34

 Plus:

 35 Private consumption of fixed capital 496.4 531.6 566.3 608.3 650.1 689.0 722.4 744.2 780.0 824.3 35

 36 Government consumption of fixed capital 140.2 150.6 161.6 174.1 186.0 197.8 208.8 215.6 223.6 231.2 36

 37 Statistical discrepancy 51.3 76.7 40.5 -0.5 64.2 91.3 88.4 110.9 152.3 136.8 37

 Less:

 38 Net U.S. income receipts from rest of the world 25.4 17.0 17.5 22.7 24.8 34.7 31.6 31.1 32.0 23.9 38

 Equals:

 39 Gross Domestic Product 4346.7 4590.1 4870.2 5252.6 5657.7 5979.6 6174.0 6539.3 6878.7 7308.7 39

(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.
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Historical Annuals, 1985-1994, 9

F.8 Saving and Investment by Sector (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Gross saving 884.0 867.8 952.2 1080.1 1113.6 1117.6 1157.9 1152.7 1167.9 1299.1 1

 2 Net saving 247.3 185.6 224.2 297.7 277.5 230.7 226.8 192.9 164.3 243.6 2

 3 Net private saving 422.7 377.9 375.3 438.1 426.7 438.1 498.1 563.1 513.3 524.2 3

 4 Domestic business 157.5 108.5 123.2 143.3 110.2 102.7 132.2 137.1 145.6 192.8 4

 5 Nonfinancial corporate business 152.0 100.8 117.5 131.0 99.8 91.9 100.9 97.4 131.6 173.8 5

 6 Financial business 5.5 7.7 5.8 12.4 10.4 10.8 31.4 39.7 14.1 19.0 6

 7 Households and institutions 265.1 269.4 252.1 294.7 316.5 335.4 365.9 426.0 367.6 331.4 7

 8 Net government saving -175.4 -192.2 -151.1 -140.4 -149.2 -207.4 -271.3 -370.2 -349.0 -280.7 8

 9 Federal -195.6 -212.7 -163.2 -157.3 -156.6 -200.9 -246.2 -332.7 -311.8 -253.7 9

 10 State and local 20.3 20.4 12.1 17.0 7.4 -6.5 -25.1 -37.5 -37.2 -27.0 10

 11 Consumption of fixed capital 636.7 682.2 728.0 782.4 836.1 886.8 931.1 959.7 1003.6 1055.6 11

 12 Private 496.4 531.6 566.3 608.3 650.1 689.0 722.4 744.2 780.0 824.3 12

 13 Domestic business 410.3 438.1 464.5 498.4 531.8 563.9 591.8 607.9 634.2 669.0 13

 14 Nonfinancial corporate business 299.0 317.9 334.7 357.7 380.1 403.0 424.5 437.8 457.9 484.8 14

 15 Nonfinancial noncorporate business 81.0 85.7 90.5 96.0 101.5 105.4 107.6 108.5 111.3 115.2 15

 16 Financial business 30.3 34.5 39.3 44.7 50.3 55.5 59.7 61.6 65.0 69.0 16

 17 Households and institutions 86.2 93.4 101.8 109.9 118.2 125.1 130.6 136.3 145.7 155.3 17

 18 Government 140.2 150.6 161.6 174.1 186.0 197.8 208.8 215.6 223.6 231.2 18

 19 Federal 93.3 100.3 107.5 116.3 124.2 131.1 137.9 141.4 145.3 148.3 19

 20 State and local 46.9 50.3 54.1 57.8 61.9 66.7 70.9 74.1 78.3 82.9 20

 Gross domestic investment, capital account

 21 transactions, and net lending, NIPAs 935.2 944.5 992.7 1079.6 1177.8 1208.9 1246.3 1263.5 1320.2 1435.9 21

 22 Gross domestic investment 1049.5 1087.2 1146.8 1195.4 1270.1 1283.8 1238.4 1309.1 1398.7 1550.7 22

 23 Gross private domestic investment 829.7 849.1 892.2 937.0 999.7 993.5 944.3 1013.0 1106.8 1256.5 23

 24 Domestic business 644.4 634.1 656.6 687.9 748.6 753.6 713.7 747.7 815.8 930.5 24

 25 Nonfinancial corporate business 446.8 433.7 452.8 478.5 516.2 538.5 525.6 555.2 609.5 689.2 25

 26 Nonfinancial noncorporate business 132.5 129.2 129.5 127.5 141.2 126.1 106.8 111.2 116.7 144.5 26

 27 Financial business 65.0 71.1 74.3 81.9 91.3 88.9 81.3 81.3 89.6 96.9 27

 28 Households and institutions 185.3 215.1 235.5 249.0 251.1 239.9 230.7 265.3 291.0 326.0 28

 29 Gross government investment 219.9 238.1 254.6 258.4 270.4 290.4 294.1 296.1 291.9 294.2 29

 30 Federal 132.5 141.9 152.4 148.0 151.2 158.2 156.8 156.4 150.7 145.4 30

 31 State and local 87.3 96.2 102.2 110.4 119.2 132.2 137.3 139.7 141.2 148.8 31

 32 Capital account transactions (net) (2) 0.1 0.1 0.1 0.1 0.3 7.4 5.3 -1.3 0.9 1.3 32

 33 Private 7.1 9.4 6.8 6.9 8.3 10.8 9.6 8.3 11.6 14.0 33

 34 Domestic business 0.7 2.2 -0.5 -0.8 1.3 -0.7 -0.6 6.8 -0.6 3.1 34

 35 Nonfinancial corporate business 0.7 2.2 -0.5 -0.8 -1.5 -0.7 -1.7 -8.7 -2.3 -5.0 35

 36 Nonfinancial noncorporate business 0.0 0.0 0.0 0.0 -0.4 0.0 -0.1 -1.8 -0.4 -4.1 36

 37 Financial business 0.0 0.0 0.0 0.0 3.2 0.0 1.3 17.4 2.0 12.2 37

 38 Households and institutions 6.4 7.1 7.3 7.7 7.0 11.5 10.2 1.4 12.3 10.9 38

 39 Government -6.9 -9.3 -6.7 -6.8 -7.9 -3.4 -4.3 -9.5 -10.8 -12.7 39

 40 Federal 12.0 10.1 11.5 12.0 10.6 15.8 15.7 11.5 11.6 11.0 40

 41 State and local -18.9 -19.3 -18.2 -18.8 -18.5 -19.3 -20.0 -21.0 -22.3 -23.7 41

 42 Net lending (+) or net borrowing (-), NIPAs (3) -114.5 -142.8 -154.2 -115.9 -92.7 -82.3 2.6 -44.3 -79.4 -116.0 42

 43 Private 133.6 127.7 83.1 102.0 133.0 214.2 354.9 396.9 327.1 214.9 43

 44 Domestic business -26.0 -12.9 -27.9 -45.9 -43.7 4.9 99.3 101.3 117.0 65.1 44

 45 Nonfinancial corporate business (3) 54.7 59.5 40.4 10.4 29.4 48.3 89.8 99.6 134.6 111.2 45

 46 Nonfinancial noncorporate business -51.5 -43.5 -39.1 -31.5 -39.3 -20.7 1.0 -0.9 -5.1 -25.1 46

 47 Financial business -29.3 -28.9 -29.2 -24.9 -33.9 -22.7 8.5 2.6 -12.5 -21.1 47

 48 Households and institutions 159.6 140.6 111.0 147.9 176.7 209.2 255.6 295.6 210.1 149.8 48

 49 Government -248.1 -270.5 -237.4 -217.9 -225.7 -296.5 -352.3 -441.2 -406.5 -330.9 49

 50 Federal -246.8 -264.3 -219.5 -201.0 -194.3 -243.8 -280.8 -359.1 -328.8 -261.7 50

 51 State and local -1.3 -6.2 -17.9 -16.9 -31.4 -52.7 -71.6 -82.0 -77.8 -69.1 51

 52 Statistical discrepancy (line 21 less line 1) 51.3 76.7 40.5 -0.5 64.2 91.3 88.4 110.9 152.3 136.8 52

 Addenda:

 53 Disaster losses 1.7 0.0 0.0 0.0 9.0 0.0 1.5 17.9 4.1 20.4 53

 54 Private 1.7 0.0 0.0 0.0 7.9 0.0 1.5 17.9 4.1 18.4 54

 55 Domestic business 0.5 0.0 0.0 0.0 4.7 0.0 0.3 8.2 2.5 13.6 55

 56 Households and institutions 1.2 0.0 0.0 0.0 3.3 0.0 1.2 9.8 1.6 4.8 56

 57 Government 0.0 0.0 0.0 0.0 1.0 0.0 0.0 0.0 0.0 2.0 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 1.0 0.0 0.0 0.0 0.0 2.0 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).
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F.9 Net Capital Transfers (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Capital transfers paid, by sector 28.5 30.1 29.7 30.9 35.9 44.0 43.4 57.6 44.0 58.8 1

 2 By private business 0.0 0.0 0.0 0.0 3.3 0.0 1.3 17.7 2.1 12.5 2

 3 Financial corporations 0.0 0.0 0.0 0.0 3.3 0.0 1.3 17.7 2.1 12.5 3

 4 Disaster-related insurance benefits 0.0 0.0 0.0 0.0 3.3 0.0 1.3 17.7 2.1 12.5 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 19.6 20.1 19.1 19.8 20.2 28.2 26.5 22.6 24.3 26.0 8

 9 Federal 19.6 20.1 19.1 19.8 20.2 28.2 26.5 22.6 24.3 26.0 9

 10 Investment grants to state and local govts. 19.4 20.0 19.0 19.6 19.9 20.8 21.2 22.4 23.5 24.8 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 0.0 0.0 13

 14 Other capital transfers paid to persons 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Capital transfers paid to the rest of the world (net) 0.1 0.1 0.1 0.1 0.3 7.4 5.3 0.2 0.8 1.2 15

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

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

 18 By persons 8.9 10.0 10.6 11.1 12.4 15.8 15.6 15.8 17.6 20.2 18

 19 Estate and gift taxes, federal 6.4 7.0 7.2 7.6 8.9 11.6 11.0 11.3 12.9 15.1 19

 20 Estate and gift taxes, state and local 2.6 3.0 3.4 3.5 3.5 4.2 4.6 4.5 4.7 5.1 20

 21 By the rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.5 0.0 0.0 21

 22 Disaster-related insurance benefits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.5 0.0 0.0 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 28.5 30.1 29.7 30.9 35.9 44.0 43.4 57.6 44.0 58.8 24

 25 By private business 0.0 0.0 0.0 0.0 1.6 0.0 0.1 9.1 1.0 7.7 25

 26 Financial corporations 0.0 0.0 0.0 0.0 0.1 0.0 0.0 0.3 0.0 0.3 26

 27 Disaster-related insurance benefits 0.0 0.0 0.0 0.0 0.1 0.0 0.0 0.3 0.0 0.3 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 0.0 0.0 0.0 0.0 1.2 0.0 0.0 7.0 0.6 3.3 29

 30 Disaster-related insurance benefits 0.0 0.0 0.0 0.0 1.2 0.0 0.0 7.0 0.6 3.3 30

 31 Other 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

 32 Noncorporate business 0.0 0.0 0.0 0.0 0.4 0.0 0.1 1.8 0.4 4.1 32

 33 Disaster-related insurance benefits 0.0 0.0 0.0 0.0 0.4 0.0 0.1 1.8 0.4 4.1 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 28.4 30.0 29.5 30.7 32.3 36.6 36.8 38.2 41.1 45.0 35

 36 Federal 6.4 7.0 7.2 7.6 8.9 11.6 11.0 11.3 12.9 15.1 36

 37 Estate and gift taxes paid by persons 6.4 7.0 7.2 7.6 8.9 11.6 11.0 11.3 12.9 15.1 37

 38 State and local 22.0 23.0 22.3 23.1 23.4 25.0 25.8 26.9 28.2 29.9 38

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

 40 Estate and gift taxes paid by persons 2.6 3.0 3.4 3.5 3.5 4.2 4.6 4.5 4.7 5.1 40

 41 Investment grants paid by federal government 19.4 20.0 19.0 19.6 19.9 20.8 21.2 22.4 23.5 24.8 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 0.0 0.0 0.0 0.0 1.6 0.0 1.1 10.1 1.1 4.8 43

 44 Disaster-related insurance benefits 0.0 0.0 0.0 0.0 1.6 0.0 1.1 10.1 1.1 4.8 44

 45 Other 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 45

 46 By the rest of the world 0.1 0.1 0.1 0.1 0.3 7.4 5.3 0.2 0.8 1.2 46

 47 Capital transfers paid by U.S. government 0.1 0.1 0.1 0.1 0.3 7.4 5.3 0.2 0.8 1.2 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) -0.0 0.0 0.0 0.0 1.6 0.0 1.1 8.6 1.1 4.8 49

 50 Financial corporations (lines 3-26) 0.0 0.0 0.0 0.0 3.2 0.0 1.3 17.4 2.0 12.2 50

 51 Property-casualty insurance companies (line 4) 0.0 0.0 0.0 0.0 3.3 0.0 1.3 17.7 2.1 12.5 51

 52 U.S.-chartered depository institutions 0.0 0.0 0.0 0.0 -0.1 0.0 0.0 -0.3 -0.0 -0.3 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 -0.1 0.0 0.0 -0.3 -0.0 -0.3 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) -0.0 0.0 0.0 0.0 -1.2 0.0 0.0 -7.0 -0.6 -3.3 58

 59 Noncorporate business (lines 7-32) 0.0 0.0 0.0 0.0 -0.4 0.0 -0.1 -1.8 -0.4 -4.1 59

 60 By government (lines 8-35) -8.8 -9.9 -10.4 -11.0 -12.1 -8.4 -10.3 -15.6 -16.8 -19.0 60

 61 Federal (lines 9-36) 13.2 13.1 11.9 12.1 11.3 16.6 15.5 11.3 11.4 10.9 61

 62 State and local (lines 16-38) -22.0 -23.0 -22.3 -23.1 -23.4 -25.0 -25.8 -26.9 -28.2 -29.9 62

 63 By persons (lines 18-43) 8.9 10.0 10.6 11.1 10.8 15.8 14.5 5.7 16.6 15.5 63

 64 By the rest of the world (lines 21-46) -0.1 -0.1 -0.1 -0.1 -0.3 -7.4 -5.3 1.3 -0.8 -1.2 64

(1) This table is based on NIPA table 5.11 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 Financial Accounts of the United States.
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Historical Annuals, 1985-1994, 11

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

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Net acquisition of financial assets 579.7 629.3 517.4 620.6 504.1 641.0 504.9 566.1 588.1 584.0 1

 2 Foreign deposits 0.8 0.8 -0.1 0.9 0.8 1.4 1.0 1.2 -1.1 3.1 2

 3 Checkable deposits and currency 32.0 119.7 0.2 4.2 2.9 -9.2 56.3 116.8 54.3 -18.8 3

 4 Time and savings deposits 143.2 106.5 120.2 165.5 75.6 47.9 -69.1 -97.8 -111.3 -33.4 4

 5 Money market fund shares 3.3 42.0 20.7 19.2 78.6 39.2 19.0 -39.8 -0.9 13.9 5

 6 Securities 94.9 64.9 91.8 57.9 9.4 200.9 128.2 209.8 200.3 195.3 6

 7 Open market paper -9.2 -0.3 -0.8 38.2 -5.7 5.8 -35.2 -5.8 12.4 4.7 7

 8 U.S. savings bonds 5.3 13.6 7.8 8.5 8.2 8.5 11.9 19.1 14.7 8.0 8

 9 Treasury bills and other Treasury securities 6.7 -13.9 24.7 70.6 35.3 88.8 12.9 64.9 35.4 166.5 9

 10 Agency- and GSE-backed securities -7.7 1.7 7.1 19.6 21.2 35.3 6.4 1.7 -56.8 110.3 10

 11 Municipal securities 103.6 15.2 105.6 56.8 27.9 34.7 54.7 -28.3 -28.3 -46.3 11

 12 Corporate and foreign bonds 46.5 31.9 32.0 -11.8 5.3 47.1 28.8 -2.2 114.1 94.2 12

 13 Corporate equities (2) -130.1 -122.6 -143.8 -122.3 -110.1 -50.8 -53.9 27.2 -118.7 -145.3 13

 14 Mutual fund shares 79.7 139.4 59.0 -1.7 27.3 31.5 102.7 133.3 227.5 3.2 14

 15 Life insurance reserves 11.5 18.3 26.9 26.1 29.6 26.5 26.8 29.1 37.1 35.5 15

 16 Pension entitlements 231.0 230.1 225.1 284.5 267.3 300.2 301.8 333.8 359.2 339.1 16

 17 Miscellaneous and other assets 62.8 47.0 32.8 62.3 39.9 34.1 40.8 12.9 50.5 49.2 17

 18 Gross investment in nonfinancial assets 669.9 738.0 777.2 815.0 848.4 826.7 779.6 848.7 919.8 1026.4 18

 19 Residential fixed investment 198.2 232.6 247.7 254.2 254.0 237.8 219.1 252.7 284.7 321.2 19

 20 Nonresidential fixed investment 113.4 112.6 121.7 131.7 136.8 125.4 119.5 117.6 127.4 135.6 20

 21 Consumer durables 354.7 396.6 415.4 441.9 460.0 465.0 446.4 476.4 516.3 560.5 21

 22 Nonproduced nonfinancial assets -2.5 -2.9 -3.2 -3.4 -3.8 -4.3 -4.3 -4.3 -4.3 -4.5 22

 23 Inventories 6.1 -0.9 -4.3 -9.5 1.4 2.8 -1.1 6.3 -4.3 13.5 23

 24 Consumption of fixed capital 428.5 467.1 506.8 543.8 583.4 617.6 645.3 664.8 699.6 737.3 24

 25 Residential fixed investment 91.6 99.7 108.7 116.6 124.3 130.0 134.0 138.1 146.9 156.2 25

 26 Nonresidential fixed investment 75.6 79.5 83.6 89.3 95.4 100.5 104.3 106.6 110.1 114.3 26

 27 Consumer durables 261.4 288.0 314.5 337.9 363.6 387.1 407.0 420.0 442.5 466.8 27

 28 Net investment in nonfinancial assets (3) 241.3 270.9 270.4 271.2 265.0 209.1 134.3 183.9 220.2 289.0 28

 29 Residential fixed investment 106.6 132.9 139.0 137.6 129.7 107.8 85.1 114.5 137.8 165.0 29

 30 Nonresidential fixed investment 37.9 33.1 38.0 42.4 41.4 24.9 15.3 10.9 17.3 21.3 30

 31 Consumer durables 93.3 108.7 100.9 104.1 96.3 77.9 39.4 56.4 73.8 93.7 31

 32 Nonproduced nonfinancial assets -2.5 -2.9 -3.2 -3.4 -3.8 -4.3 -4.3 -4.3 -4.3 -4.5 32

 33 Inventories 6.1 -0.9 -4.3 -9.5 1.4 2.8 -1.1 6.3 -4.3 13.5 33

 34 Net increase in liabilities 438.2 342.1 311.7 387.2 370.7 237.2 185.2 201.9 252.8 368.2 34

 35 Home mortgages 181.0 203.3 239.2 222.6 226.6 207.1 166.9 169.0 157.0 176.0 35

 36 Other mortgages 74.0 67.6 36.2 72.9 37.0 -4.4 -11.0 -19.4 -12.1 -14.8 36

 37 Consumer credit 84.0 55.8 32.3 46.6 47.0 15.1 -8.8 9.2 61.4 135.0 37

 38 Policy loans -0.1 -0.1 -0.0 -0.0 3.2 4.1 4.8 5.7 5.6 7.8 38

 39 Security credit 18.9 6.7 -16.3 1.7 -1.0 -3.7 16.3 -1.6 22.6 -1.1 39

 40 Other liabilities 80.5 8.8 20.4 43.5 57.9 19.1 17.0 39.0 18.2 65.4 40

 41 Net capital transfers paid (4) 8.9 10.0 10.6 11.1 10.4 15.8 14.3 3.9 16.2 11.3 41

 42 Personal saving, FOF concept (FOF) 391.7 568.1 486.8 515.7 408.8 628.6 468.4 551.9 571.7 516.1 42

 43 - Net investment in consumer durables 93.3 108.7 100.9 104.1 96.3 77.9 39.4 56.4 73.8 93.7 43

 44 - Government insurance and pension fund reserves (5) 2.2 3.0 1.8 2.1 2.1 1.8 2.4 2.4 1.7 1.6 44

 45 = Personal saving, NIPA concept (FOF) (6) 296.2 456.4 384.0 409.5 310.4 548.9 426.6 493.1 496.2 420.9 45

 46 Personal saving, NIPA concept (NIPA) 265.1 269.4 252.1 294.7 316.5 335.5 365.9 426.0 367.6 331.4 46

 47 Difference 31.1 187.1 131.9 114.7 -6.1 213.5 60.7 67.1 128.6 89.4 47

 Memo:

 48 Disposable personal income 3098.5 3287.9 3466.3 3770.4 4052.1 4311.8 4484.5 4800.3 5000.2 5244.2 48

 Personal saving as a percentage of disposable personal income:

 49 FOF concept (FOF data) (line 42) 12.6 17.3 14.0 13.7 10.1 14.6 10.4 11.5 11.4 9.8 49

 50 NIPA concept (FOF data) (line 45) 9.6 13.9 11.1 10.9 7.7 12.7 9.5 10.3 9.9 8.0 50

 51 NIPA concept (NIPA data) (line 46) 8.6 8.2 7.3 7.8 7.8 7.8 8.2 8.9 7.4 6.3 51

 52 Difference (line 47) 1.0 5.7 3.8 3.0 -0.2 5.0 1.4 1.4 2.6 1.7 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).
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12 Historical Annuals, 1985-1994,

L.10 Assets and Liabilities of the Personal Sector (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets 8559.6 9648.1 10288.4 11396.7 12620.8 13118.4 14618.4 15691.3 16912.8 17535.2 1

 2 Foreign deposits 7.8 8.8 9.8 10.7 11.9 13.4 14.6 15.6 15.8 18.8 2

 3 Checkable deposits and currency 416.6 536.3 536.1 540.3 543.2 534.0 590.3 707.1 761.4 742.6 3

 4 Time and savings deposits 2042.5 2144.8 2257.8 2439.7 2515.3 2563.1 2494.0 2393.2 2281.9 2248.6 4

 5 Money market fund shares 196.3 238.4 259.1 278.3 356.9 396.1 415.1 375.3 374.3 388.2 5

 6 Securities 2300.9 2772.6 2953.8 3466.6 4021.4 4085.7 5098.7 5656.3 6416.3 6667.7 6

 7 Open market paper 56.5 56.1 55.3 93.6 87.9 93.7 58.5 52.7 65.0 69.7 7

 8 U.S. savings bonds 79.8 93.3 101.1 109.6 117.7 126.2 138.1 157.3 171.9 179.9 8

 9 Treasury bills and other Treasury securities 208.2 188.4 216.9 294.3 289.1 390.3 409.6 483.1 514.9 709.4 9

 10 Agency- and GSE-backed securities 23.4 23.3 32.1 51.8 74.8 117.3 115.5 114.4 58.3 187.4 10

 11 Municipal securities 395.1 410.9 516.6 586.0 613.3 647.7 701.8 672.2 642.3 595.7 11

 12 Corporate and foreign bonds 94.7 127.8 144.6 135.1 178.1 237.6 270.9 283.2 428.8 534.8 12

 13 Corporate equities (2) 1229.5 1494.0 1462.6 1757.1 2147.5 1961.4 2759.2 3094.2 3437.0 3294.2 13

 14 Mutual fund shares 213.8 378.7 424.5 439.1 513.0 511.5 645.0 799.4 1098.0 1096.6 14

 15 Life insurance reserves 264.3 282.6 309.5 335.7 365.3 391.7 418.6 447.7 484.8 520.3 15

 16 Pension entitlements 2847.1 3130.2 3400.4 3701.0 4141.8 4435.1 4846.8 5342.6 5774.1 6095.9 16

 17 Life insurance companies 260.4 327.9 348.6 435.5 495.5 569.8 621.2 693.4 775.1 796.6 17

 18 Private pension funds 1226.9 1326.6 1469.3 1574.7 1752.3 1833.0 2044.8 2185.7 2379.3 2511.0 18

 19 Governments 1359.8 1475.7 1582.5 1690.8 1894.0 2032.3 2180.8 2463.5 2619.7 2788.3 19

 20 Miscellaneous and other assets 484.0 534.5 562.0 624.5 665.3 699.2 740.3 753.5 804.2 853.0 20

 21 Total liabilities 3519.9 3846.4 4107.2 4521.5 4885.4 5146.2 5335.1 5537.4 5793.3 6160.4 21

 22 Home mortgages 1518.9 1722.1 1919.2 2152.5 2359.5 2595.7 2766.3 2935.3 3094.7 3270.6 22

 23 Other mortgages 677.1 744.7 780.9 862.5 899.5 895.1 884.1 864.7 852.6 837.8 23

 24 Consumer credit 610.6 666.4 698.6 745.2 809.3 824.4 815.6 824.8 886.2 1021.2 24

 25 Policy loans 55.5 55.4 55.3 55.3 58.4 62.5 67.3 73.0 78.6 86.4 25

 26 Security credit 50.7 57.4 41.8 43.5 42.5 38.8 55.1 53.5 76.1 75.1 26

 27 Other liabilities 607.1 600.5 611.3 662.5 716.1 729.6 746.8 786.1 805.1 869.4 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).
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Historical Annuals, 1985-1994, 13

F.100 Households and Nonprofit Organizations (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Personal income 3515.9 3725.1 3955.3 4275.3 4618.2 4904.5 5071.1 5410.8 5646.8 5934.7 1

 2 - Personal current taxes 417.3 437.2 489.1 504.9 566.1 592.7 586.6 610.5 646.5 690.5 2

 3 = Disposable personal income 3098.5 3287.9 3466.3 3770.4 4052.1 4311.8 4484.5 4800.3 5000.2 5244.2 3

 4 - Personal outlays 2833.4 3018.5 3214.2 3475.7 3735.6 3976.3 4118.6 4374.2 4632.6 4912.8 4

 5 = Personal saving, NIPA (2) 265.1 269.4 252.1 294.7 316.5 335.5 365.9 426.0 367.6 331.4 5

 6 + Government insurance and pension reserves (3) 2.2 3.0 1.8 2.1 2.1 1.8 2.4 2.4 1.7 1.6 6

 7 + Net investment in consumer durables 93.3 108.7 100.9 104.1 96.3 77.9 39.4 56.4 73.8 93.7 7

 8 + Consumption of fixed capital 347.5 381.4 416.3 447.8 481.8 512.2 537.6 556.3 588.3 622.1 8

 9 - Net capital transfers paid (4) 8.9 10.0 10.6 11.1 10.8 15.8 14.5 5.7 16.6 15.5 9

 10 = Gross saving less net capital transfers paid 699.2 752.4 760.5 837.6 886.0 911.6 930.9 1035.4 1014.8 1033.3 10

 11 Gross investment 730.3 939.5 892.5 952.3 879.9 1125.1 991.6 1102.5 1143.4 1122.7 11

 12 Capital expenditures 537.4 608.8 647.7 687.5 707.2 700.6 672.8 737.5 803.0 881.9 12

 13 Residential 157.1 184.4 200.2 210.8 209.1 194.7 183.4 215.9 242.9 277.0 13

 14 Consumer durable goods 354.7 396.6 415.4 441.9 460.0 465.0 446.4 476.4 516.3 560.5 14

 15 Nonprofit nonresidential 28.2 30.6 35.3 38.2 41.9 45.2 47.3 49.4 48.1 49.0 15

 16 Nonproduced nonfinancial assets -2.5 -2.9 -3.2 -3.4 -3.8 -4.3 -4.3 -4.3 -4.3 -4.5 16

 17 Net lending (+) or net borrowing (-) 192.9 330.7 244.8 264.8 172.7 424.5 318.8 365.0 340.4 240.8 17

 18 Net acquisition of financial assets 528.8 596.5 498.7 539.7 465.5 663.4 527.1 572.5 609.0 569.7 18

 19 Foreign deposits 0.8 0.8 -0.1 0.9 0.8 1.4 1.0 1.2 -1.1 3.1 19

 20 Checkable deposits and currency 17.8 117.1 -0.7 -0.3 1.7 -11.4 54.2 111.4 51.0 -31.1 20

 21 Time and savings deposits 137.7 104.8 122.1 158.9 74.2 45.2 -71.3 -104.7 -114.7 -36.9 21

 22 Money market fund shares 3.3 41.9 20.8 17.0 78.1 38.3 18.3 -42.2 -2.1 9.6 22

 23 Credit market instruments 149.0 42.5 191.8 183.6 99.5 229.8 81.6 42.7 81.9 324.1 23

 24 Open market paper -9.2 -0.3 -0.8 38.2 -5.7 5.8 -35.2 -5.8 12.4 4.7 24

 25 Treasury securities 11.6 -2.4 33.5 78.5 41.8 96.7 25.1 83.3 49.4 169.8 25

 26 Savings bonds 5.3 13.6 7.8 8.5 8.2 8.5 11.9 19.1 14.7 8.0 26

 27 Other 6.4 -15.9 25.7 70.1 33.7 88.3 13.2 64.2 34.8 161.8 27

 28 Agency- and GSE-backed securities -7.7 1.7 7.1 19.6 21.2 35.3 6.4 1.7 -56.8 110.3 28

 29 Municipal securities 103.6 15.2 105.6 56.8 27.9 34.7 54.7 -28.3 -29.8 -46.5 29

 30 Corporate and foreign bonds 46.5 31.9 32.0 -11.8 5.3 47.1 28.8 -2.2 114.1 94.2 30

 31 Other loans and advances (5) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

 32 Mortgages 4.0 -3.6 14.4 2.3 8.9 10.2 1.8 -5.9 -7.4 -8.5 32

 33 Consumer credit (student loans) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 33

 34 Corporate equities (6) -130.1 -122.6 -143.8 -122.3 -110.1 -50.8 -53.9 27.2 -118.7 -145.3 34

 35 Mutual fund shares 79.7 139.4 59.0 -1.7 27.3 31.5 102.7 133.3 227.5 3.2 35

 36 Security credit 13.5 9.0 -5.8 1.8 12.3 9.2 24.6 -10.8 26.0 6.7 36

 37 Life insurance reserves 11.5 18.3 26.9 26.1 29.6 26.5 26.8 29.1 37.1 35.5 37

 38 Pension entitlements (7) 231.0 230.1 225.1 284.5 267.3 300.2 301.8 333.8 359.2 339.1 38

 39 Equity in noncorporate business -16.9 -5.6 -25.0 -29.8 -32.3 23.5 30.7 33.2 49.4 47.0 39

 40 Miscellaneous assets 31.3 20.7 28.3 21.0 17.1 20.0 10.7 18.3 13.3 14.7 40

 41 Net increase in liabilities 335.9 265.8 253.9 275.0 292.8 238.9 208.3 207.5 268.6 328.9 41

 42 Credit market instruments 313.8 258.1 264.3 270.4 276.8 233.2 183.3 203.2 239.4 324.3 42

 43 Home mortgages (8) 181.5 198.8 221.5 215.7 224.9 200.1 174.6 173.1 156.3 166.5 43

 44 Consumer credit 84.0 55.8 32.3 46.6 47.0 15.1 -8.8 9.2 61.4 135.0 44

 45 Municipal securities 30.2 -3.0 -0.3 1.5 3.2 3.0 3.8 2.4 1.1 3.2 45

 46 Depository institution loans n.e.c. (9) 8.0 -2.5 1.2 -1.6 -9.1 0.4 -2.3 5.8 8.7 9.2 46

 47 Other loans and advances 6.9 4.3 3.3 3.8 3.6 7.3 7.4 6.2 1.3 11.1 47

 48 Commercial mortgages 3.2 4.7 6.3 4.4 7.2 7.2 8.6 6.6 10.7 -0.8 48

 49 Security credit 18.9 6.7 -16.3 1.7 -1.0 -3.7 16.3 -1.6 22.6 -1.1 49

 50 Trade payables 3.1 2.3 4.7 2.4 16.2 9.3 9.4 5.9 6.0 5.2 50

 51 Deferred and unpaid life insurance premiums 0.1 -1.3 1.2 0.4 0.8 0.1 -0.7 0.0 0.5 0.5 51

 52 Discrepancy -31.1 -187.1 -131.9 -114.7 6.1 -213.5 -60.7 -67.1 -128.6 -89.4 52

(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 public and private defined benefit and defined contribution pension plans and annuities, including those in IRAs, at life insurance companies. Excludes social security.

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

(9) 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.
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14 Historical Annuals, 1985-1994,

F.101 Nonfinancial Business (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Income before taxes 466.6 443.5 521.9 600.4 592.4 602.3 604.0 688.1 784.0 907.3 1

 2 Gross saving less net capital transfers paid 532.1 504.5 542.6 584.7 582.1 598.5 631.0 651.0 699.9 780.5 2

 3 Gross investment 364.0 464.4 498.3 480.7 451.6 583.8 647.0 645.3 828.5 830.6 3

 4 Capital expenditures 579.9 564.9 581.7 605.1 656.9 663.8 630.4 662.1 719.4 824.7 4

 5 Fixed investment 557.4 556.1 555.0 587.4 629.5 649.9 632.6 647.5 700.3 762.6 5

 6 Residential 42.9 50.2 49.4 45.2 46.7 44.8 37.6 36.3 38.7 39.6 6

 7 Nonresidential 514.5 506.0 505.6 542.2 582.8 605.1 595.0 611.2 661.6 722.9 7

 8 Change in inventories 21.8 6.6 27.1 18.5 27.7 14.5 -0.4 16.3 20.8 63.8 8

 9 Nonproduced nonfinancial assets 0.7 2.2 -0.5 -0.8 -0.3 -0.7 -1.7 -1.7 -1.7 -1.7 9

 10 Net lending (+) or net borrowing (-) -215.8 -100.6 -83.4 -124.4 -205.2 -80.0 16.6 -16.7 109.1 5.9 10

 11 Net acquisition of financial assets 246.9 157.6 223.4 401.3 189.4 126.3 91.0 172.3 360.2 336.0 11

 12 Foreign deposits 2.7 3.2 -2.9 5.3 -6.8 0.0 1.7 -0.6 -1.3 1.2 12

 13 Checkable deposits and currency 37.5 4.1 10.4 18.6 10.3 8.4 9.1 1.2 23.8 24.2 13

 14 Time and savings deposits 5.7 17.9 -1.5 2.9 -0.3 -3.4 5.2 5.4 19.4 8.0 14

 15 Money market fund shares -1.5 0.5 0.8 -3.3 0.5 10.2 5.2 15.8 -2.5 7.4 15

 16 Security RPs -0.5 1.7 -1.7 1.6 -2.2 -0.6 -0.5 3.4 -2.6 -0.3 16

 17 Credit market instruments 21.8 -2.9 -8.5 29.4 21.1 -29.6 25.4 27.7 7.9 24.5 17

 18 Commercial paper 0.7 -0.3 4.8 -1.3 0.6 -0.5 0.9 2.3 2.4 -0.6 18

 19 Treasury securities 4.9 1.2 -9.5 -3.3 25.1 -13.2 5.5 17.9 -11.1 6.7 19

 20 Agency- and GSE-backed securities -1.3 -1.7 0.3 3.4 3.1 -5.9 1.8 3.5 10.5 0.8 20

 21 Municipal securities 3.1 -0.5 -5.7 -2.6 15.6 -7.7 20.1 1.0 10.4 2.1 21

 22 Mortgages 10.2 -6.2 -5.4 26.6 -26.4 -5.7 1.2 0.2 -11.1 6.0 22

 23 Consumer credit 4.1 4.5 7.0 6.7 3.1 3.3 -4.2 2.8 6.9 9.4 23

 24 Mutual fund shares 3.7 3.8 -2.7 -2.7 -1.4 -1.0 2.4 5.0 6.8 2.1 24

 25 Trade receivables 49.7 10.2 65.3 102.6 48.9 31.9 -6.9 34.7 55.6 88.2 25

 26 Miscellaneous assets 127.9 119.1 164.2 247.0 119.4 110.5 49.4 79.8 253.0 180.8 26

 27 Net increase in liabilities 462.8 258.1 306.8 525.7 394.6 206.3 74.5 189.0 251.2 330.1 27

 28 Credit market instruments 254.6 296.7 222.6 308.5 214.8 131.2 -79.3 -9.3 113.8 205.3 28

 29 Commercial paper 14.6 -9.3 1.6 11.9 21.4 9.7 -18.4 8.6 10.0 21.4 29

 30 Municipal securities 22.6 -9.9 -0.9 0.2 -0.9 -0.3 -1.2 4.3 6.6 6.8 30

 31 Corporate bonds 83.2 127.1 78.8 103.1 73.8 47.1 78.8 67.6 183.4 90.6 31

 32 Depository institution loans n.e.c. 42.9 68.0 12.1 45.7 34.8 -6.6 -46.2 -27.6 -2.8 63.1 32

 33 Other loans and advances 16.2 37.5 38.1 45.3 52.9 62.8 -56.3 7.0 -30.0 34.6 33

 34 Mortgages 75.1 83.3 93.0 102.2 32.7 18.5 -36.1 -69.2 -53.4 -11.3 34

 35 Corporate equities -84.5 -85.0 -75.5 -129.5 -124.2 -63.0 18.3 27.0 21.3 -44.9 35

 36 Trade payables 41.2 -4.1 49.4 61.2 24.1 28.3 22.0 39.7 38.0 84.8 36

 37 Taxes payable 0.3 5.4 5.7 -0.6 -1.4 0.6 -8.9 7.1 3.6 1.0 37

 38 Miscellaneous liabilities 268.1 51.8 128.7 316.0 311.8 85.0 92.2 91.4 25.9 35.8 38

 39 Proprietors’ net investment -17.0 -6.7 -24.2 -29.9 -30.5 24.2 30.2 33.1 48.5 48.2 39

 40 Discrepancy 168.1 40.1 44.3 103.9 130.5 14.7 -16.1 5.6 -128.6 -50.1 40

(1) Combined statement for nonfinancial corporate business and nonfinancial noncorporate business.
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Historical Annuals, 1985-1994, 15

F.102 Nonfinancial Corporate Business

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Profits before tax (book) 205.0 170.4 222.5 264.5 244.0 238.3 232.4 257.1 309.1 397.9 1

 2 - Taxes on corporate income 71.1 76.2 94.2 104.0 101.2 98.5 88.6 94.4 108.0 132.4 2

 3 - Net dividends 72.0 72.9 76.3 82.2 105.4 118.3 125.5 134.3 149.2 158.0 3

 4 + Capital consumption allowance (1) 364.9 370.5 387.6 409.6 426.3 439.4 454.0 468.6 491.2 528.8 4

 5 = U.S. internal funds, book 426.8 391.8 439.6 488.0 463.7 461.0 472.3 497.0 543.1 636.4 5

 6 + Foreign earnings retained abroad 24.3 19.9 28.7 22.8 31.7 45.0 46.0 39.5 48.5 33.9 6

 7 + Inventory valuation adjustment (IVA) 0.0 7.1 -16.2 -22.2 -16.3 -12.9 4.9 -2.8 -4.0 -12.4 7

 8 - Net capital transfers paid (2) -0.0 0.0 0.0 0.0 -1.2 0.0 0.0 -7.0 -0.6 -3.3 8

 9 = Total internal funds + IVA 451.1 418.7 452.1 488.6 480.2 493.1 523.2 540.7 588.2 661.1 9

 10 Gross investment 283.0 378.6 407.8 384.7 349.7 478.4 539.2 535.0 716.8 711.2 10

 11 Capital expenditures 447.4 435.7 452.1 477.6 515.7 537.7 523.6 550.8 602.7 680.2 11

 12 Fixed investment (3) 431.0 426.0 421.2 450.5 489.7 526.6 524.6 542.5 579.2 631.7 12

 13 Inventory change + IVA 15.7 7.5 31.4 27.9 26.3 11.7 0.7 10.1 25.1 50.2 13

 14 Nonproduced nonfinancial assets 0.7 2.2 -0.5 -0.8 -0.3 -0.7 -1.7 -1.7 -1.7 -1.7 14

 15 Net lending (+) or net borrowing (-) -164.4 -57.1 -44.3 -92.9 -166.0 -59.2 15.6 -15.8 114.1 31.0 15

 16 Net acquisition of financial assets 213.0 131.5 228.8 350.4 181.3 124.6 83.0 145.6 332.6 273.6 16

 17 Foreign deposits 2.7 3.2 -2.9 5.3 -6.8 0.0 1.7 -0.6 -1.3 1.2 17

 18 Checkable deposits and currency 23.2 1.5 9.6 14.0 9.1 6.1 6.9 -4.2 20.6 11.8 18

 19 Time and savings deposits 0.2 16.2 0.4 -3.7 -1.7 -6.0 3.0 -1.6 16.0 4.4 19

 20 Money market fund shares -1.5 0.4 0.9 -5.5 0.0 9.3 4.5 13.5 -3.7 3.2 20

 21 Security RPs -0.5 1.7 -1.7 1.6 -2.2 -0.6 -0.5 3.4 -2.6 -0.3 21

 22 Credit market instruments 16.9 -5.6 -0.8 19.0 32.2 -26.1 30.7 27.8 9.1 17.7 22

 23 Commercial paper 0.7 -0.3 4.8 -1.3 0.6 -0.5 0.9 2.3 2.4 -0.6 23

 24 Treasury securities 4.6 -0.8 -8.5 -3.9 23.5 -13.8 5.8 17.2 -11.8 2.0 24

 25 Agency- and GSE-backed securities -1.3 -1.7 0.3 3.4 3.1 -5.9 1.8 3.5 10.5 0.8 25

 26 Municipal securities 3.1 -0.5 -5.7 -2.6 15.6 -7.7 20.1 1.0 8.9 2.0 26

 27 Mortgages 5.6 -6.9 1.4 16.6 -13.7 -1.6 6.2 1.1 -7.8 4.1 27

 28 Consumer credit 4.1 4.5 7.0 6.7 3.1 3.3 -4.2 2.8 6.9 9.4 28

 29 Mutual fund shares 3.7 3.8 -2.7 -2.7 -1.4 -1.0 2.4 5.0 6.8 2.1 29

 30 Trade receivables 45.2 2.1 63.9 90.6 42.1 29.2 -5.8 27.6 50.7 71.9 30

 31 Miscellaneous assets 123.2 108.1 162.1 231.9 110.1 113.7 40.1 74.7 236.9 161.7 31

 32 U.S. direct investment abroad (4) 14.3 19.0 29.7 11.8 26.1 35.6 38.1 40.0 57.9 78.5 32

 33 Insurance receivables 4.3 18.9 23.5 15.0 14.3 13.4 2.2 13.7 6.9 5.9 33

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

 35 Investment in finance co. subs. 4.7 2.1 -6.2 -3.0 0.4 5.5 2.1 2.0 -5.2 2.2 35

 36 Other 99.9 68.2 115.2 208.0 69.3 59.2 -2.4 19.1 177.3 75.1 36

 37 Net increase in liabilities 377.4 188.6 273.1 443.3 347.3 183.8 67.4 161.4 218.5 242.6 37

 38 Net funds raised in markets 99.7 144.6 89.1 94.9 42.2 67.9 -34.9 44.1 155.7 145.9 38

 39 Net new equity issues -84.5 -85.0 -75.5 -129.5 -124.2 -63.0 18.3 27.0 21.3 -44.9 39

 40 Credit market instruments 184.2 229.5 164.6 224.4 166.4 130.9 -53.1 17.1 134.4 190.8 40

 41 Commercial paper 14.6 -9.3 1.6 11.9 21.4 9.7 -18.4 8.6 10.0 21.4 41

 42 Municipal securities (5) 22.6 -9.9 -0.9 0.2 -0.9 -0.3 -1.2 4.3 6.6 6.8 42

 43 Corporate bonds (4) 83.2 127.1 78.8 103.1 73.8 47.1 78.8 67.6 183.4 90.6 43

 44 Depository institution loans n.e.c. 40.9 67.4 3.4 36.5 22.1 -10.6 -46.2 -30.4 -7.2 47.8 44

 45 Other loans and advances (6) 18.1 38.3 36.3 46.0 48.7 61.7 -57.3 6.2 -27.0 30.9 45

 46 Mortgages 4.8 15.9 45.5 26.8 1.2 23.3 -8.8 -39.2 -31.3 -6.7 46

 47 Trade payables 42.5 -2.0 44.4 54.1 21.6 28.3 23.1 33.4 36.5 77.4 47

 48 Taxes payable -3.2 3.8 5.1 -3.5 -6.1 0.0 -9.4 6.5 5.4 -0.4 48

 49 Miscellaneous liabilities 238.3 42.2 134.6 297.8 289.6 87.6 88.6 77.5 20.9 19.7 49

 50 Foreign direct investment in U.S. 17.5 31.9 52.5 69.8 62.4 59.1 -1.3 6.7 20.3 46.1 50

 51 Pension fund contributions payable 5.8 0.0 1.5 -1.2 7.3 6.1 12.1 9.9 12.3 11.7 51

 52 Claims of pension fund on sponsor -12.1 30.5 44.6 28.1 21.3 54.1 23.9 72.8 6.9 -19.1 52

 53 Other 227.1 -20.1 36.0 201.1 198.6 -31.7 54.0 -11.9 -18.7 -18.9 53

 54 Discrepancy 168.1 40.1 44.3 103.9 130.5 14.7 -16.1 5.6 -128.6 -50.1 54

 Memo:

 55 Financing gap (7) 20.5 36.9 28.7 11.8 68.3 89.6 46.4 56.7 63.6 56.3 55

(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).
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16 Historical Annuals, 1985-1994,

F.103 Nonfinancial Noncorporate Business

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Gross saving = consumption of fixed capital 81.0 85.7 90.5 96.0 101.5 105.4 107.6 108.5 111.3 115.2 1

 2 Gross saving less net capital transfers paid (1) 81.0 85.7 90.5 96.0 101.9 105.4 107.8 110.3 111.7 119.4 2

 3 Gross investment 81.0 85.7 90.5 96.0 101.9 105.4 107.8 110.3 111.7 119.4 3

 4 Capital expenditures 132.5 129.2 129.5 127.5 141.2 126.1 106.8 111.2 116.7 144.5 4

 5 Fixed investment (2) 126.4 130.2 133.8 136.9 139.8 123.3 107.9 105.0 121.0 130.9 5

 6 Change in inventories 6.1 -0.9 -4.3 -9.5 1.4 2.8 -1.1 6.3 -4.3 13.5 6

 7 Net lending (+) or net borrowing (-) -51.5 -43.5 -39.1 -31.5 -39.3 -20.7 1.0 -0.9 -5.1 -25.1 7

 8 Net acquisition of financial assets 33.9 26.1 -5.4 50.9 8.0 1.8 8.0 26.6 27.6 62.4 8

 9 Checkable deposits and currency 14.2 2.6 0.9 4.6 1.2 2.2 2.1 5.4 3.2 12.3 9

 10 Time and savings deposits 5.5 1.7 -1.9 6.6 1.4 2.7 2.2 7.0 3.4 3.6 10

 11 Money market mutual funds 0.0 0.1 -0.1 2.2 0.5 0.9 0.7 2.3 1.1 4.2 11

 12 Credit market instruments 4.9 2.7 -7.7 10.5 -11.1 -3.5 -5.3 -0.1 -1.2 6.8 12

 13 Treasury securities 0.3 2.0 -1.0 0.5 1.6 0.6 -0.3 0.7 0.6 4.7 13

 14 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.5 0.1 14

 15 Mortgages 4.7 0.7 -6.8 9.9 -12.7 -4.1 -5.0 -0.9 -3.3 2.0 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 4.5 8.0 1.4 12.0 6.8 2.7 -1.1 7.1 4.9 16.3 17

 18 Miscellaneous assets 4.7 11.0 2.1 15.1 9.3 -3.2 9.4 5.0 16.1 19.2 18

 19 Insurance receivables 5.5 6.6 -5.1 0.4 5.6 -3.7 5.0 -0.9 2.6 2.0 19

 20 Equity investment in GSEs (3) -0.3 -0.6 -0.5 0.1 -0.7 -0.2 0.2 -0.1 0.3 0.2 20

 21 Other -0.5 4.9 7.6 14.6 4.4 0.8 4.2 6.0 13.2 17.0 21

 22 Net increase in liabilities 85.4 69.6 33.6 82.4 47.3 22.5 7.1 27.5 32.7 87.5 22

 23 Credit market instruments 70.4 67.1 58.0 84.1 48.4 0.3 -26.2 -26.5 -20.7 14.4 23

 24 Depository institution loans n.e.c. 2.1 0.6 8.7 9.3 12.8 4.0 0.1 2.7 4.4 15.3 24

 25 Other loans and advances -2.0 -0.8 1.8 -0.6 4.2 1.1 1.0 0.8 -2.9 3.7 25

 26 Mortgages 70.3 67.4 47.5 75.4 31.5 -4.7 -27.3 -30.0 -22.1 -4.6 26

 27 Trade payables -1.3 -2.1 5.1 7.0 2.5 -0.1 -1.0 6.3 1.5 7.4 27

 28 Taxes payable 3.4 1.7 0.6 2.9 4.7 0.6 0.5 0.6 -1.7 1.4 28

 29 Miscellaneous liabilities 29.8 9.6 -5.8 18.2 22.2 -2.6 3.6 14.0 5.1 16.1 29

 30 Proprietors’ net investment -17.0 -6.7 -24.2 -29.9 -30.5 24.2 30.2 33.1 48.5 48.2 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.
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Historical Annuals, 1985-1994, 17

F.104 State and Local Governments (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Current receipts, NIPA basis 516.9 556.8 585.0 629.9 680.8 729.6 779.5 835.6 877.1 934.1 1

 2 Personal current taxes 81.4 87.2 96.6 102.1 114.6 122.6 125.3 135.3 141.1 148.0 2

 3 Taxes on production and imports 262.1 279.7 301.6 324.6 349.1 374.1 395.3 420.1 436.8 466.3 3

 4 Taxes on corporate income 20.2 22.7 23.9 26.0 24.2 22.5 23.6 24.4 26.9 30.0 4

 5 Contributions for govt. social insurance 4.9 6.0 7.2 8.4 9.0 10.0 11.6 13.1 14.1 14.5 5

 6 Income receipts on assets 55.6 59.0 58.5 61.2 66.6 68.5 67.2 64.0 61.1 63.5 6

 7 Current transfer receipts 89.8 99.8 94.4 103.1 111.6 126.4 150.7 172.8 189.8 204.1 7

 8 Current surplus of government enterprises 2.9 2.6 2.7 4.4 5.6 5.6 5.7 5.8 7.3 7.8 8

 9 Current expenditures, NIPA basis 496.7 536.4 572.9 612.9 673.4 736.0 804.6 873.1 914.3 961.0 9

 10 Consumption expenditures 371.8 399.9 428.3 458.9 501.3 546.2 580.1 619.0 646.5 682.2 10

 11 Govt. social benefit payments to persons 77.3 84.3 90.7 98.5 109.3 127.7 156.5 180.0 195.2 206.7 11

 12 Interest payments 47.3 51.8 53.5 55.1 62.3 61.8 67.6 73.6 72.2 71.8 12

 13 Subsidies 0.3 0.3 0.3 0.4 0.4 0.4 0.4 0.4 0.4 0.3 13

 14 Net saving, NIPA basis 20.3 20.4 12.1 17.0 7.4 -6.5 -25.1 -37.5 -37.2 -27.0 14

 15 + Consumption of fixed capital 46.9 50.3 54.1 57.8 61.9 66.7 70.9 74.1 78.3 82.9 15

 16 - Net capital transfers paid (2) -22.0 -23.0 -22.3 -23.1 -23.4 -25.0 -25.8 -26.9 -28.2 -29.9 16

 17 = Gross saving less net capital transfers paid 89.1 93.7 88.5 97.9 92.7 85.2 71.6 63.5 69.3 85.9 17

 18 Gross investment 107.5 122.8 108.4 88.0 119.6 105.3 72.2 92.5 61.4 154.2 18

 19 Fixed investment 87.3 96.2 102.2 110.4 119.2 132.2 137.3 139.7 141.2 148.8 19

 20 Nonproduced nonfinancial assets 3.1 3.7 4.2 4.3 4.9 5.7 5.8 5.8 5.9 6.2 20

 21 Net lending (+) or net borrowing (-) 17.1 23.0 2.1 -26.7 -4.5 -32.6 -70.9 -53.0 -85.7 -0.8 21

 22 Net acq. of financial assets 179.4 85.5 84.8 43.9 70.0 49.4 59.9 6.7 18.5 7.4 22

 23 Checkable deposits and currency 1.1 2.5 -0.7 3.0 0.4 -1.3 6.5 1.2 2.0 1.8 23

 24 Time and savings deposits 7.0 2.4 7.1 -2.0 -2.8 -3.0 -11.1 -6.1 -1.5 6.5 24

 25 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.8 4.1 25

 26 Security RPs 21.0 4.8 11.9 -1.0 16.1 5.7 6.7 4.6 10.7 -15.1 26

 27 Credit market instruments 136.6 70.2 57.8 34.9 45.5 39.3 47.2 1.7 32.6 -55.0 27

 28 Open market paper 0.0 0.0 0.2 0.5 0.9 2.4 5.0 5.2 3.7 4.4 28

 29 Treasury securities 92.7 57.1 41.9 6.6 4.8 41.5 25.0 -17.4 29.6 -77.8 29

 30 Agency- and GSE-backed securities 30.5 -1.4 5.2 22.8 30.9 -11.6 11.7 12.2 0.1 11.6 30

 31 Municipal securities 0.6 0.8 -0.2 0.1 0.5 0.8 0.0 -1.1 -1.0 -0.9 31

 32 Corporate and foreign bonds 3.0 2.0 2.0 1.0 2.0 1.0 2.0 2.9 5.6 5.4 32

 33 Mortgages 9.8 11.8 8.7 4.0 6.3 5.3 3.5 -0.0 -5.4 2.2 33

 34 Corporate equities 0.0 0.2 0.5 0.9 1.1 1.8 0.0 1.0 0.8 1.5 34

 35 Mutual fund shares 0.0 0.0 0.0 0.1 1.4 3.5 2.8 4.6 5.1 8.2 35

 36 Trade receivables 3.8 0.9 3.8 4.8 3.5 2.4 2.4 3.1 3.6 5.4 36

 37 Taxes receivable 4.0 2.7 0.5 3.6 3.5 -0.5 1.8 -0.1 -2.7 1.3 37

 38 Miscellaneous assets 6.0 1.7 3.9 -0.5 1.4 1.5 3.6 -3.3 -33.8 48.7 38

 39 Net increase in liabilities 162.4 62.5 82.7 70.6 74.5 82.0 130.8 59.7 104.2 8.2 39

 40 Credit market instruments 163.6 74.2 90.4 50.4 47.4 47.1 91.2 16.5 57.9 -45.5 40

 41 Municipal securities 155.4 72.8 92.8 53.7 47.6 46.2 90.8 16.6 58.7 -45.9 41

 42 Short-term (3) 2.2 -0.1 -0.8 2.0 3.3 2.9 6.9 -1.1 1.8 -2.2 42

 43 Long-term 153.2 72.9 93.6 51.7 44.3 43.2 83.9 17.7 56.9 -43.8 43

 44 U.S. government loans 8.2 1.4 -2.4 -3.3 -0.2 0.9 0.4 -0.1 -0.7 0.4 44

 45 Trade payables 8.7 9.5 10.1 10.8 11.8 12.9 13.7 14.3 15.0 16.0 45

 46 Claims of pension fund on sponsor (4) -10.0 -21.2 -17.8 9.4 15.3 22.0 26.0 28.9 31.3 37.8 46

 47 Discrepancy -18.4 -29.1 -19.9 9.8 -26.9 -20.0 -0.7 -29.0 8.0 -68.3 47

(1) Data for employee retirement funds are shown in table F.118.

(2) Table F.9, line 62.

(3) Debt with original maturity of 13 months or less.

(4) Included in miscellaneous liabilities.
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18 Historical Annuals, 1985-1994,

F.105 Federal Government

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Current receipts, NIPA basis 775.3 817.3 899.0 961.4 1040.8 1085.7 1105.6 1152.1 1228.8 1326.7 1

 2 Personal current taxes 336.0 350.0 392.5 402.8 451.5 470.1 461.3 475.2 505.5 542.5 2

 3 Taxes on production and imports 46.1 43.7 45.9 49.8 49.7 50.9 61.8 63.3 66.4 79.0 3

 4 Taxes on corporate income 76.3 83.8 103.2 111.1 117.2 118.1 109.9 118.8 138.5 156.7 4

 5 Taxes from the rest of the world 1.9 1.7 2.0 2.4 2.7 3.0 2.6 2.6 2.7 3.1 5

 6 Contributions for govt. social insurance 277.9 298.9 317.4 354.8 378.0 402.0 420.6 444.0 465.5 496.2 6

 7 Income receipts on assets 30.1 32.1 28.2 30.2 28.9 30.4 30.0 25.7 26.6 23.6 7

 8 Current transfer receipts 8.6 7.6 10.2 9.6 11.8 13.3 17.2 18.4 20.2 21.6 8

 9 Current surplus of government enterprises -1.6 -0.6 -0.5 0.7 1.1 -2.3 2.1 4.1 3.5 4.0 9

 10 Current expenditures, NIPA basis 970.9 1030.0 1062.1 1118.8 1197.5 1286.6 1351.8 1484.7 1540.6 1580.4 10

 11 Consumption expenditures 316.8 336.5 347.8 360.8 380.2 401.8 423.9 430.2 427.7 427.3 11

 12 Government social benefits 329.4 348.1 360.9 381.9 415.2 451.2 498.0 555.7 587.7 613.3 12

 13 Other current transfer payments 89.9 96.6 91.1 98.9 105.4 117.9 98.4 162.2 177.4 186.8 13

 14 Interest payments 213.7 224.2 232.3 247.9 269.7 289.0 304.4 306.9 311.4 320.8 14

 15 Subsidies 21.0 24.6 30.0 29.2 27.1 26.6 27.1 29.7 36.3 32.2 15

 16 Net saving, NIPA basis -195.6 -212.7 -163.2 -157.3 -156.6 -200.9 -246.2 -332.7 -311.8 -253.7 16

 17 + Consumption of fixed capital 93.3 100.3 107.5 116.3 124.2 131.1 137.9 141.4 145.3 148.3 17

 18 - Insurance and pension reserves (1) 2.2 3.0 1.8 2.1 2.1 1.8 2.4 2.4 1.7 1.6 18

 19 - Contr. for govt. soc. insur., U.S.-affiliated areas 1.4 1.5 1.5 1.7 1.7 2.0 2.1 2.1 2.2 2.5 19

 20 - Net capital transfers paid (2) 13.2 13.1 11.9 12.1 11.3 16.6 15.5 11.3 11.4 10.9 20

 21 = Gross saving less net capital transfers paid -119.1 -129.9 -70.9 -57.0 -47.6 -90.1 -128.3 -207.1 -181.9 -120.4 21

 22 Gross investment -134.7 -153.1 -70.4 -94.2 -81.0 -69.1 -139.2 -236.8 -191.2 -120.5 22

 23 Fixed investment 132.5 141.9 152.4 148.0 151.2 158.2 156.8 156.4 150.7 145.4 23

 24 Nonproduced nonfinancial assets -1.2 -3.0 -0.4 -0.2 -0.7 -0.8 0.1 0.2 0.2 0.1 24

 25 Net lending (+) or net borrowing (-) -266.0 -292.0 -222.4 -242.0 -231.5 -226.5 -296.2 -393.4 -342.0 -266.0 25

 26 Net acq. of financial assets 31.8 6.0 -18.0 -5.0 9.6 66.7 59.9 -22.9 -13.2 -37.0 26

 27 U.S. official reserve assets 1.9 -0.7 -5.4 1.4 12.7 0.8 -2.6 -1.7 1.0 -2.7 27

 28 Checkable deposits and currency 13.0 0.4 -8.1 9.0 -14.2 4.8 27.4 -16.9 20.7 -21.7 28

 29 Time and savings deposits 0.0 0.2 0.2 -0.2 -0.1 0.1 0.1 -0.7 -0.1 -0.1 29

 30 Credit market instruments 17.8 9.7 -7.9 -9.5 -3.0 33.6 10.5 -11.9 -25.6 -5.6 30

 31 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 31

 32 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 32

 33 Other loans and advances 15.9 9.2 -2.6 -8.4 -2.3 -1.9 -4.9 -0.0 -10.5 1.9 33

 34 Mortgages 1.8 0.5 -5.3 -1.1 -0.7 35.6 15.4 -11.9 -15.4 -14.0 34

 35 Consumer credit (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.4 6.5 35

 36 Corporate equities (4) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 36

 37 Trade receivables 3.7 -2.3 8.0 0.1 3.2 -1.7 -4.6 -6.7 -2.4 -3.8 37

 38 Taxes receivable -6.0 -1.7 -6.2 -6.8 -4.3 -5.2 -7.0 -0.4 -3.1 -6.3 38

 39 Miscellaneous assets 1.4 0.5 1.3 1.0 15.4 34.3 36.1 15.4 -3.8 3.2 39

 40 Net increase in liabilities 297.8 298.0 204.4 236.9 241.1 293.2 356.1 370.5 328.8 229.0 40

 41 SDR allocations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 41

 42 SDR certificates 0.1 0.3 0.0 0.0 3.5 1.5 0.0 -2.0 0.0 0.0 42

 43 Treasury currency 0.4 0.5 0.5 0.5 0.6 1.0 0.0 0.2 0.4 0.7 43

 44 Credit market instruments 225.7 216.0 143.9 155.1 146.4 246.9 278.2 304.0 256.1 155.9 44

 45 Savings bonds 5.3 13.6 7.8 8.5 8.2 8.5 11.9 19.1 14.7 8.0 45

 46 Treasury bills 25.5 26.8 -37.2 24.5 16.7 96.8 63.0 67.3 57.0 19.1 46

 47 Other Treasury securities 195.0 175.3 171.8 104.8 119.9 133.5 217.1 217.3 176.7 128.6 47

 48 Budget agency securities -0.0 0.4 1.5 17.4 1.6 8.2 -13.8 0.2 7.8 0.2 48

 49 Multifamily residential mortgages -0.1 -0.0 -0.0 -0.0 -0.0 -0.0 0.0 -0.0 -0.0 0.0 49

 50 Trade payables 10.6 14.6 7.5 8.0 8.6 -5.8 -5.5 -2.8 3.0 -0.2 50

 51 Insurance reserves 1.1 1.0 1.2 1.2 1.2 1.2 1.2 1.4 1.4 1.3 51

 52 Miscellaneous liabilities 59.9 65.6 51.4 72.2 80.9 48.5 82.1 69.7 67.9 71.4 52

 53 Nonmarketable securities held by pension plans (5) 39.9 29.6 30.3 32.8 34.6 33.4 38.4 39.8 37.1 37.6 53

 54 Claims of pension fund on sponsor 19.4 32.9 30.5 29.8 30.2 32.2 29.5 30.0 30.1 29.9 54

 55 Other 0.6 3.2 -9.4 9.6 16.2 -17.1 14.3 -0.1 0.7 3.9 55

 56 Discrepancy 15.6 23.2 -0.5 37.2 33.4 -21.0 10.9 29.8 9.3 0.2 56

 Memo:

 57 Change in cash balance (6) 14.4 -0.0 -7.9 10.4 -5.9 8.3 14.5 -16.9 19.2 -26.7 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) 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 29) plus checkable deposit and currency liabilities of the monetary authority and U.S.-chartered depository institutions sectors (table F.204, lines 3 and 8).
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Historical Annuals, 1985-1994, 19

F.106 Rest of the World

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Foreign income from U.S. 530.2 575.0 641.3 712.4 774.3 815.6 755.4 830.7 888.9 1020.2 1

 2 U.S. imports 417.2 452.9 508.7 554.0 591.0 629.7 623.5 667.8 720.0 813.4 2

 3 U.S. income payments to rest of world 87.3 94.4 105.8 129.5 152.9 154.2 136.8 121.0 123.6 160.7 3

 4 Current taxes and trans. payments to rest of world 25.7 27.8 26.8 29.0 30.4 31.7 -4.9 41.9 45.4 46.1 4

 5 Foreign outlays to U.S. 415.9 432.3 487.2 596.7 682.0 740.7 763.3 785.1 810.4 905.5 5

 6 U.S. exports 303.2 321.0 363.9 444.6 504.3 551.9 594.9 633.0 654.8 720.9 6

 7 U.S. income receipts from rest of world 112.7 111.3 123.3 152.1 177.7 188.8 168.4 152.1 155.6 184.5 7

 8 - Net capital transfers paid (1) -0.1 -0.1 -0.1 -0.1 -0.3 -7.4 -5.3 1.3 -0.8 -1.2 8

 9 Gross saving less net capital transfers paid (2) 114.5 142.8 154.2 115.9 92.7 82.3 -2.6 44.3 79.4 116.0 9

 10 Gross investment 99.5 116.6 167.8 138.3 47.2 50.9 38.7 95.4 78.4 123.1 10

 11 Nonproduced nonfinancial assets 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -0.0 -0.0 -0.0 11

 12 Net lending (+) or net borrowing (-) 99.5 116.6 167.8 138.3 47.2 50.9 38.7 95.4 78.5 123.1 12

 13 Net acquisition of financial assets 122.8 168.8 211.0 191.7 189.8 156.3 93.9 201.7 318.4 302.7 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 17.1 14.4 51.2 4.2 -9.0 25.2 -14.2 44.5 47.9 100.6 16

 17 U.S. checkable deposits and currency 4.8 5.1 2.5 3.6 3.9 16.3 11.4 12.6 16.4 22.4 17

 18 U.S. time deposits 3.2 -2.5 0.9 3.4 4.7 -0.7 -0.2 -4.1 6.8 1.5 18

 19 Money market fund shares 0.0 0.0 0.0 0.0 0.4 0.8 0.8 0.8 0.8 0.8 19

 20 Security RPs (net) 0.8 3.4 2.2 -0.1 10.1 -3.4 1.2 20.9 16.9 -12.0 20

 21 Credit market instruments 67.4 105.7 60.9 108.3 82.9 87.3 15.5 97.2 129.3 132.3 21

 22 Open market paper -0.2 -0.1 1.0 2.8 2.4 -2.0 0.6 1.6 5.9 6.0 22

 23 Treasury securities 19.6 38.2 35.6 62.0 29.8 27.0 33.7 55.6 73.3 65.0 23

 24 Official -0.8 34.4 43.2 41.7 0.1 29.6 14.8 18.5 49.0 30.8 24

 25 Private 20.4 3.8 -7.6 20.2 29.6 -2.5 18.8 37.1 24.4 34.3 25

 26 Agency- and GSE-backed securities 4.3 7.0 5.0 6.7 15.1 6.3 10.2 18.3 35.4 21.7 26

 27 Official -0.3 -1.2 1.6 1.3 1.4 0.7 1.3 3.9 4.1 6.1 27

 28 Private 4.6 8.2 3.5 5.4 13.7 5.6 8.9 14.3 31.3 15.6 28

 29 Municipal securities 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 29

 30 U.S. corporate bonds (4) 36.1 38.9 18.6 14.7 13.1 5.8 18.2 16.6 30.2 37.8 30

 31 Loans to U.S. corporate business 7.4 21.6 0.5 21.9 22.4 50.1 -47.3 4.9 -15.8 1.6 31

 32 U.S. corporate equities 4.4 17.9 15.0 -2.9 8.6 -16.7 3.8 -17.5 10.4 -11.5 32

 33 Mutual fund shares 0.0 0.0 0.0 0.0 0.0 0.0 5.9 11.1 9.8 11.6 33

 34 Trade receivables 0.2 1.4 0.1 2.1 2.6 6.3 -1.8 1.7 1.0 1.5 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 24.8 23.4 78.2 73.1 85.7 41.2 71.6 34.6 79.2 55.4 36

 37 Foreign direct investment in U.S. (5) 19.7 35.4 58.5 57.7 68.3 48.5 23.2 19.8 51.4 46.1 37

 38 Other 5.0 -12.1 19.7 15.3 17.4 -7.3 48.4 14.8 27.8 9.3 38

 39 Net increase in liabilities 23.3 52.2 43.2 53.4 142.7 105.4 55.2 106.3 239.9 179.5 39

 40 U.S. official reserve assets 3.9 -0.3 -9.1 3.9 25.3 2.2 -5.8 -3.9 1.4 -5.3 40

 41 U.S. private deposits 7.1 27.6 8.6 14.7 29.1 27.9 -26.5 -3.4 -18.5 52.9 41

 42 Credit market instruments 1.2 9.7 6.3 7.4 10.2 23.9 15.1 24.1 69.8 -11.2 42

 43 Commercial paper 6.2 11.5 3.8 8.7 13.1 12.3 6.8 5.6 -9.6 -26.1 43

 44 Bonds 3.8 3.1 7.4 6.9 4.9 21.4 15.0 16.8 82.9 14.9 44

 45 Depository institution loans n.e.c. -2.8 -1.0 -3.6 -1.8 -0.1 -2.9 3.1 2.3 0.7 1.4 45

 46 Official -1.4 -0.0 -0.9 -0.5 -1.4 -0.5 -0.4 1.0 -1.0 -0.2 46

 47 Banks -1.3 1.0 -2.9 0.0 0.7 -2.7 1.0 0.7 1.2 0.0 47

 48 Other -0.1 -2.1 0.2 -1.3 0.5 0.4 2.5 0.6 0.5 1.6 48

 49 Other loans and advances -6.0 -3.9 -1.4 -6.4 -7.6 -7.0 -9.8 -0.6 -4.2 -1.4 49

 50 Foreign corporate equities (6) 3.7 1.2 -2.1 1.1 17.2 7.4 30.7 32.4 63.4 48.1 50

 51 Trade payables -0.2 -0.8 2.5 7.7 2.8 -1.2 3.1 1.4 4.1 3.6 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 7.6 14.8 37.1 18.6 58.1 45.2 38.6 55.7 119.8 91.5 53

 54 U.S. equity in IBRD, etc. 1.5 1.5 1.2 1.3 1.2 1.3 1.5 1.4 1.1 1.4 54

 55 Nonofficial foreign currencies -0.1 -1.0 0.1 -0.3 -0.1 0.1 1.0 0.1 0.3 0.1 55

 56 U.S. direct investment abroad (4,5) 14.8 19.1 31.2 16.1 38.8 32.8 39.1 44.5 84.0 80.2 56

 57 Investment by holding companies 0.5 -1.3 -3.5 -1.7 -1.8 -0.4 5.7 -5.8 2.3 7.8 57

 58 Other -9.1 -3.5 8.0 3.2 20.0 11.4 -8.7 15.6 32.1 1.9 58

 59 Discrepancy (FOF basis) (7) 15.0 26.2 -13.6 -22.4 45.5 31.4 -41.3 -51.1 0.9 -7.1 59

 Memo:

 60 Net U.S. exports, NIPA basis -114.0 -131.9 -144.8 -109.4 -86.8 -77.9 -28.6 -34.8 -65.2 -92.5 60

 61 + Net U.S. income receipts (8) 25.4 17.0 17.5 22.7 24.8 34.7 31.6 31.1 32.0 23.9 61

 62 - Current taxes and trans. payments to rest of world 25.7 27.8 26.8 29.0 30.4 31.7 -4.9 41.9 45.4 46.1 62

 63 = Balance on current account, NIPAs -114.3 -142.7 -154.1 -115.7 -92.4 -74.9 7.9 -45.6 -78.6 -114.7 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.
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20 Historical Annuals, 1985-1994,

F.107 Financial Business (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Gross saving less net capital transfers paid 35.6 42.2 45.1 57.1 58.3 68.0 91.9 85.4 78.9 76.6 1

 2 Gross investment 57.9 80.4 105.7 99.3 126.6 86.9 132.2 77.9 142.5 133.2 2

 3 Capital expenditures 65.2 71.4 74.5 82.0 91.4 89.1 81.5 83.9 94.7 104.1 3

 4 Fixed residential investment 0.1 0.2 0.2 0.1 0.1 0.2 0.2 2.6 5.2 7.3 4

 5 Fixed nonresidential investment 65.0 71.1 74.3 81.9 91.3 88.9 81.3 81.3 89.6 96.9 5

 6 Net lending (+) or net borrowing (-) -7.3 9.1 31.2 17.3 35.2 -2.2 50.7 -6.1 47.8 29.1 6

 7 Net acqisition of financial assets 1058.5 1258.5 967.9 998.5 1037.1 757.0 895.2 1042.5 1410.5 1276.4 7

 8 U.S. official reserve assets 2.0 0.4 -3.8 2.5 12.6 1.3 -3.2 -2.2 0.4 -2.6 8

 9 SDR certificates 0.1 0.3 0.0 0.0 3.5 1.5 0.0 -2.0 0.0 0.0 9

 10 Treasury currency 0.6 0.5 0.6 0.6 0.8 0.8 0.6 0.4 0.6 0.9 10

 11 Foreign deposits -2.2 3.1 -0.6 7.9 -3.2 0.6 -5.3 -1.2 -10.3 5.7 11

 12 Net interbank assets 7.7 18.4 -5.3 -0.9 -1.8 5.1 -9.7 3.9 0.7 -0.2 12

 13 Checkable deposits and currency 7.5 5.8 0.2 6.0 -1.2 14.0 -12.2 0.4 6.1 0.3 13

 14 Time and savings deposits 3.9 10.8 -2.3 12.9 40.1 -40.4 20.4 -20.2 -3.8 3.2 14

 15 Money market fund shares 8.4 5.8 1.5 7.5 10.7 19.3 17.4 30.1 22.2 18.6 15

 16 Federal funds and security RPs 23.3 25.7 -2.9 13.3 37.8 30.1 22.6 5.8 2.3 41.1 16

 17 Credit market instruments 769.5 959.6 725.1 694.7 674.3 529.6 461.4 617.7 803.8 672.7 17

 18 Open market paper 61.4 27.2 27.1 35.3 67.6 24.9 -15.3 9.9 -29.5 21.2 18

 19 Treasury securities 97.0 121.5 40.9 -6.1 43.2 86.7 202.8 164.3 107.1 -8.1 19

 20 Agency- and GSE-backed securities 73.6 174.3 151.9 85.7 80.8 151.6 101.9 120.9 183.9 147.9 20

 21 Municipal securities 100.6 44.2 -8.3 0.9 5.6 20.8 18.4 51.6 86.5 9.1 21

 22 Corporate and foreign bonds 57.8 149.6 112.1 158.3 99.1 69.1 116.7 150.1 236.5 83.5 22

 23 Depository institution loans n.e.c. 47.1 78.2 2.5 44.7 38.8 -8.4 -40.9 -21.2 -6.5 62.5 23

 24 Other loans and advances 18.3 28.8 64.9 45.4 18.2 -8.1 -43.3 7.1 15.1 59.1 24

 25 Mortgages 233.9 284.5 308.8 290.8 277.1 181.2 125.6 128.7 156.5 178.5 25

 26 Consumer credit 79.9 51.3 25.3 39.8 43.9 11.8 -4.7 6.4 54.1 119.1 26

 27 Corporate equities 55.3 35.3 65.4 18.8 -2.9 16.9 121.3 88.9 243.2 168.3 27

 28 Mutual fund shares 3.1 10.1 3.8 2.7 0.2 19.7 20.2 36.5 42.8 75.6 28

 29 Trade receivables 3.1 5.8 5.4 8.5 4.7 10.7 5.9 4.2 4.2 9.1 29

 30 Security credit 29.8 0.9 -21.6 1.2 3.3 -5.7 26.9 15.4 35.3 -6.8 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 146.3 176.0 202.3 222.6 258.1 153.6 228.8 264.8 262.8 290.5 32

 33 Net increase in liabilities 1065.8 1249.4 936.6 981.2 1001.9 759.2 844.5 1048.5 1362.7 1247.3 33

 34 Net interbank liabilities 25.8 24.0 41.6 4.4 -10.7 27.6 -3.0 42.7 54.9 105.5 34

 35 Checkable deposits and currency 83.8 125.4 4.0 42.3 7.0 42.6 87.8 112.1 117.3 -11.8 35

 36 Time and savings deposits 157.5 133.6 126.4 175.9 115.8 -2.2 -56.9 -130.4 -93.9 -17.8 36

 37 Money market fund shares 10.2 48.2 23.2 21.2 89.7 68.6 41.6 4.5 20.2 40.5 37

 38 Federal funds and security RPs 24.0 48.6 -9.5 22.0 73.5 -25.5 -13.7 38.5 67.3 72.5 38

 39 Credit market instruments 203.2 330.1 291.8 249.8 224.8 207.8 153.1 236.5 292.9 464.4 39

 40 Open market paper 32.0 24.2 26.9 54.8 31.3 8.6 -32.3 -1.1 -5.5 40.5 40

 41 Agency- and GSE-backed securities 99.5 179.5 168.0 120.8 149.5 167.5 145.8 156.3 165.3 292.2 41

 42 Corporate and foreign bonds 56.5 92.3 78.6 52.2 40.8 54.5 72.0 83.0 120.2 115.5 42

 43 Depository institution loans n.e.c. -1.1 13.7 -7.1 2.3 13.2 0.6 4.4 -1.6 -13.0 -11.3 43

 44 Other loans and advances 16.2 20.2 25.0 19.4 -10.5 -24.0 -37.3 -0.6 22.4 17.8 44

 45 Mortgages 0.1 0.3 0.3 0.3 0.3 0.6 0.5 0.6 3.6 9.8 45

 46 Corporate equities 10.5 14.7 14.9 22.9 3.6 6.7 22.3 40.2 51.1 9.9 46

 47 Mutual fund shares 86.5 153.3 60.2 -1.6 27.4 53.7 133.9 190.5 292.0 100.6 47

 48 Trade payables 2.5 -0.4 -0.8 1.7 -0.5 -1.9 0.7 0.6 2.7 -0.9 48

 49 Security credit 24.5 3.2 -11.1 1.3 16.6 7.2 35.2 6.2 38.7 1.0 49

 50 Life insurance reserves 10.4 17.2 25.7 24.9 28.4 25.3 25.6 27.7 35.7 34.3 50

 51 Pension entitlements 231.0 230.1 225.1 284.5 267.3 300.2 301.8 333.8 359.2 339.1 51

 52 Taxes payable 1.1 1.5 -2.0 1.4 -0.6 1.5 1.0 0.2 2.1 -0.8 52

 53 Equity in noncorporate business 0.1 1.2 -0.8 0.1 -1.7 -0.7 0.5 0.1 0.9 -1.1 53

 54 Miscellaneous liabilities 194.8 118.7 147.9 130.3 161.5 48.2 114.7 145.3 121.6 112.0 54

 55 Discrepancy -22.2 -38.3 -60.6 -42.2 -68.4 -18.9 -40.3 7.5 -63.6 -56.6 55

(1) Sum of financial sectors shown on tables F.108 and F.110 through F.130.
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Historical Annuals, 1985-1994, 21

F.108 Monetary Authority (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Gross saving -1.4 -2.3 -2.0 0.3 -1.4 -2.2 -0.5 1.1 0.3 -2.2 1

 2 Fixed nonresidential investment 0.2 0.2 0.2 0.2 0.2 0.2 0.3 0.3 0.7 0.9 2

 3 Net acquisition of financial assets 24.9 31.9 10.8 19.0 9.8 27.6 22.3 17.1 42.1 28.2 3

 4 U.S. official reserve assets 2.0 0.4 -3.8 2.5 12.6 1.3 -3.2 -2.2 0.4 -2.6 4

 5 SDR certificates 0.1 0.3 0.0 0.0 3.5 1.5 0.0 -2.0 0.0 0.0 5

 6 Treasury currency 0.6 0.5 0.6 0.6 0.8 0.8 0.6 0.4 0.6 0.9 6

 7 Federal Reserve float (2) 0.1 0.3 -0.5 0.5 -0.2 1.1 -1.5 2.5 -2.3 -1.6 7

 8 Interbank loans (2) -0.5 -1.5 2.3 -1.6 -1.7 -0.3 0.0 0.5 -0.6 0.1 8

 9 Discount window (3) -0.5 -1.5 2.3 -1.6 -1.7 -0.3 0.0 0.5 -0.6 0.1 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 3.2 10.8 -11.0 1.9 -4.7 16.2 -2.5 -7.8 5.1 -2.6 11

 12 Credit market instruments 18.4 19.4 21.0 14.8 -7.9 8.1 31.1 27.9 36.2 31.5 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 18.6 19.8 21.3 14.8 -6.9 8.3 31.4 28.5 37.0 32.5 14

 15 Treasury bills 14.4 18.4 3.9 5.1 -8.2 7.9 20.1 9.2 18.6 17.0 15

 16 Other Treasury securities 4.2 1.5 17.4 9.7 1.3 0.4 11.3 19.4 18.4 15.5 16

 17 Agency- and GSE-backed securities -0.2 -0.4 -0.3 0.0 -1.0 -0.2 -0.3 -0.6 -0.8 -1.0 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 -0.2 -0.4 -0.3 0.0 -1.0 -0.2 -0.3 -0.6 -0.8 -1.0 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 1.0 1.7 2.2 0.4 7.4 -1.2 -2.3 -2.2 2.6 2.6 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 1.0 1.7 2.2 0.4 7.4 -1.2 -2.3 -2.2 2.6 2.6 32

 33 Net increase in liabilities 24.8 31.8 10.6 19.0 9.7 27.4 22.1 16.7 41.7 28.0 33

 34 Depository institution reserves 6.8 19.5 -6.3 -2.4 -1.0 0.3 -9.2 2.7 2.9 -4.2 34

 35 Vault cash of commercial banks 1.3 0.1 -0.8 2.7 1.1 3.9 1.0 -1.7 0.8 5.5 35

 36 Checkable deposits and currency 16.6 13.3 16.7 17.6 10.2 24.2 30.7 16.2 37.2 25.8 36

 37 Due to federal government 4.1 -1.9 -2.3 3.3 -2.4 2.8 8.8 -10.3 7.2 -7.7 37

 38 Treasury cash holdings 0.0 -0.1 0.0 -0.1 0.1 0.1 0.1 -0.1 -0.1 -0.0 38

 39 Treasury general deposit account 4.0 -1.8 -2.3 3.3 -2.4 2.7 8.7 -10.2 7.3 -7.6 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 -0.1 -0.1 0.1 0.2 -0.2 0.6 -0.7 0.2 -0.1 41

 42 Due to government-sponsored enterprises 0.0 0.9 0.1 -0.5 0.7 -1.1 1.5 -1.4 0.0 0.5 42

 43 Currency outside banks 12.4 14.4 19.0 14.8 11.7 22.6 19.8 28.7 29.8 33.1 43

 44 Security RPs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 44

 45 Miscellaneous liabilities 0.1 -1.1 1.0 1.1 -0.6 -1.0 -0.3 -0.4 0.9 0.9 45

 46 Federal Reserve Bank stock 0.2 0.1 0.2 0.1 0.1 0.2 0.2 0.4 0.3 0.3 46

 47 Other -0.1 -1.2 0.8 1.0 -0.8 -1.2 -0.6 -0.8 0.6 0.6 47

 48 Discrepancy -1.8 -2.6 -2.4 -0.0 -1.8 -2.6 -1.0 0.4 -0.7 -3.4 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.
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22 Historical Annuals, 1985-1994,

F.109 Private Depository Institutions (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Gross saving less net capital transfers paid (2) 17.3 21.9 25.4 19.9 23.6 24.5 39.1 53.9 16.5 25.3 1

 2 Fixed nonresidential investment 19.0 19.9 20.5 23.6 24.9 23.5 20.8 25.0 18.8 19.2 2

 3 Net lending (+) or net borrowing (-) -14.6 2.2 16.5 -22.6 -5.0 -12.8 16.9 8.6 35.6 37.7 3

 4 Net acquisition of financial assets 317.3 342.6 275.6 301.8 165.4 -31.5 -54.6 87.0 188.8 278.5 4

 5 Vault cash 1.3 0.1 -0.8 2.7 1.1 3.9 1.0 -1.7 0.8 5.5 5

 6 Reserves at Federal Reserve 6.8 19.5 -6.3 -2.4 -1.0 0.3 -9.2 2.7 2.9 -4.2 6

 7 Credit market instruments 272.6 307.9 268.3 274.4 83.7 -26.3 -63.1 28.5 140.9 196.5 7

 8 Open market paper -3.0 1.2 1.3 0.1 -0.7 4.0 -1.2 -1.8 -2.9 -1.8 8

 9 Treasury securities 4.8 13.8 9.3 -16.1 -30.5 2.5 64.7 71.7 25.5 -32.7 9

 10 Agency- and GSE-backed securities -0.7 86.1 72.8 49.0 5.7 39.7 15.0 50.0 55.7 21.0 10

 11 Municipal securities 57.8 -28.7 -29.1 -22.5 -18.0 -16.0 -14.8 -6.1 1.7 -1.7 11

 12 Corporate and foreign bonds 9.2 30.8 32.3 27.0 -10.9 -8.8 5.2 5.4 10.9 2.0 12

 13 Depository institution loans n.e.c. 47.1 78.2 2.5 44.7 38.8 -8.4 -40.9 -21.2 -6.5 62.5 13

 14 Other loans and advances -9.5 -5.6 5.4 -2.3 -2.1 -9.8 -10.2 -3.6 -6.4 -2.4 14

 15 Mortgages 108.9 100.8 153.5 159.1 79.8 -15.1 -60.1 -55.2 19.7 67.9 15

 16 Consumer credit 57.9 31.3 20.3 35.5 21.6 -14.3 -20.6 -10.7 43.2 81.6 16

 17 Corporate equities 0.0 2.1 1.3 2.0 0.3 -5.1 0.6 -0.1 2.5 -3.1 17

 18 Mutual fund shares 0.0 0.0 -0.0 -0.4 -0.3 -0.1 3.0 1.1 0.7 -3.5 18

 19 Security credit 11.0 -5.8 -5.3 -0.5 4.3 -2.0 10.6 16.9 12.7 -5.7 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 25.6 18.8 18.4 25.9 77.4 -2.3 2.5 39.6 28.3 93.0 21

 22 Net increase in liabilities 331.8 340.4 259.1 324.4 170.4 -18.7 -71.5 78.4 153.2 240.8 22

 23 Net interbank liabilities 17.7 4.4 48.8 4.2 -10.8 23.4 5.2 41.7 51.2 104.2 23

 24 Checkable deposits 67.2 112.1 -12.8 24.6 -3.2 18.4 57.1 95.9 80.2 -37.6 24

 25 Small time and savings deposits 140.4 130.0 76.6 122.7 98.9 63.9 1.6 -57.2 -70.4 -37.4 25

 26 Large time deposits 17.1 3.6 49.8 53.2 16.9 -66.1 -58.5 -73.2 -23.5 19.6 26

 27 Federal funds and security RPs (net) 25.8 36.8 40.3 35.1 -12.6 -42.3 -39.5 12.6 45.3 90.8 27

 28 Credit market instruments 14.9 21.9 36.4 18.3 -15.3 -30.6 -54.7 0.8 16.5 22.0 28

 29 Open market paper -9.4 -5.9 5.6 -2.7 -4.2 -5.3 -14.3 -3.9 -7.7 -2.9 29

 30 Corporate bonds 9.1 7.1 5.0 1.6 -0.6 -1.4 -3.2 5.2 2.1 2.6 30

 31 Other loans and advances 15.2 20.6 25.8 19.4 -10.5 -23.9 -37.3 -0.6 22.1 22.3 31

 32 Corporate equity issues 1.4 1.4 1.5 2.5 1.5 2.1 0.9 4.3 1.9 1.8 32

 33 Taxes payable (net) 0.2 0.3 -2.4 0.2 -1.3 -0.1 -1.4 -0.2 -2.9 -2.0 33

 34 Miscellaneous liabilities 47.3 29.9 21.0 63.6 96.4 12.4 17.7 53.7 54.9 79.3 34

 35 Foreign direct investment in U.S. 1.4 1.6 1.7 2.7 2.3 0.9 2.6 2.7 2.2 3.4 35

 36 Investment by holding companies 15.1 18.0 23.2 23.0 10.4 17.3 14.6 36.8 30.1 15.5 36

 37 Investment by funding corporations 2.2 4.2 7.2 12.8 2.6 -1.8 -0.5 3.9 -6.6 -0.5 37

 38 Other 28.5 6.2 -11.2 25.0 81.1 -4.0 1.0 10.3 29.2 60.8 38

 39 Discrepancy 12.9 -0.2 -11.6 19.0 3.7 13.8 1.4 20.2 -38.0 -31.6 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.
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Historical Annuals, 1985-1994, 23

F.110 U.S.-Chartered Depository Institutions, Excluding Credit Unions

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Gross saving less net capital transfers paid (1) 15.3 20.5 23.6 17.8 21.0 22.0 35.6 47.6 9.4 18.2 1

 2 Fixed nonresidential investment 17.2 18.0 18.6 21.2 22.2 21.6 19.0 22.5 16.6 16.6 2

 3 Net acquisition of financial assets 278.1 283.2 210.3 252.3 61.5 -56.9 -142.2 -4.1 129.7 203.5 3

 4 Vault cash 1.3 0.1 -0.8 2.7 1.1 3.9 1.0 -1.7 0.8 5.5 4

 5 Reserves at Federal Reserve 6.1 18.9 -5.9 -1.3 -1.0 0.2 -9.0 3.0 2.5 -4.1 5

 6 Credit market instruments 240.0 256.6 216.7 226.8 48.2 -69.9 -122.5 -9.5 126.9 153.8 6

 7 Open market paper -3.4 0.8 0.4 0.2 -1.3 0.8 -0.4 -2.3 -1.3 -1.5 7

 8 Treasury securities 2.3 9.4 6.5 -19.6 -28.3 0.8 49.4 55.6 14.9 -28.1 8

 9 Agency- and GSE-backed securities -2.3 82.8 71.5 49.2 5.9 29.6 5.7 36.9 40.4 14.4 9

 10 Residential mortgage pass-through securities -2.9 68.7 66.8 19.7 -9.6 0.9 -22.2 -1.1 20.5 19.3 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 0.0 0.0 0.0 0.0 0.0 23.3 34.6 33.3 11.1 -14.4 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 0.6 14.1 4.7 29.5 15.5 5.4 -6.7 4.7 8.8 9.5 14

 15 Municipal securities 57.9 -28.7 -29.1 -22.5 -17.9 -16.0 -14.7 -6.0 2.0 -2.1 15

 16 Corporate and foreign bonds 5.4 25.6 29.2 28.6 -12.0 -11.8 1.4 4.2 9.2 -3.0 16

 17 Private residential mortgage pass-through securities -0.0 3.3 0.1 4.9 4.5 1.4 0.3 -0.4 4.7 -2.2 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 0.0 0.0 0.0 0.0 0.0 0.0 0.4 -6.6 -1.8 1.7 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 5.4 22.3 29.1 23.6 -16.5 -13.2 0.6 11.2 6.3 -2.5 21

 22 Depository institution loans n.e.c. 34.5 56.1 -14.6 23.8 24.7 -17.7 -66.2 -29.4 7.8 44.6 22

 23 Other loans and advances -11.1 -7.3 -1.0 -3.1 -5.2 -4.1 -4.6 -0.1 -2.4 -0.2 23

 24 Mortgages 105.1 89.6 137.5 142.2 64.1 -37.1 -73.7 -56.3 23.1 65.9 24

 25 Consumer credit 51.8 28.3 16.3 28.1 18.3 -14.2 -19.3 -12.1 33.3 63.7 25

 26 Corporate equities -0.1 2.1 1.4 2.0 0.3 -5.1 0.5 -0.0 2.5 -3.1 26

 27 Mutual fund shares 0.0 0.0 0.0 0.0 -0.1 -0.3 1.8 -0.4 0.5 -1.9 27

 28 Security credit 6.8 -5.9 -3.2 -0.4 4.2 -5.4 2.2 3.1 4.1 -4.6 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 23.9 11.4 2.1 22.5 8.9 19.6 -16.3 1.6 -7.7 58.0 30

 31 Net increase in liabilities 293.2 282.0 195.5 276.1 67.3 -43.1 -157.5 -9.7 97.9 167.3 31

 32 Net interbank liabilities 12.1 -3.7 33.4 -3.6 -18.0 15.4 8.2 10.5 32.8 84.4 32

 33 Federal Reserve float 0.1 0.3 -0.5 0.5 -0.2 1.1 -1.5 2.5 -2.3 -1.6 33

 34 Borrowing from Federal Reserve banks -0.5 -1.5 2.3 -1.6 -1.7 -0.3 0.0 0.5 -0.6 0.1 34

 35 To domestic banking 2.0 0.1 3.3 -4.9 -10.8 -2.8 18.2 12.3 17.1 11.1 35

 36 To foreign banks 10.5 -2.6 28.3 2.4 -5.4 17.4 -8.6 -4.8 18.7 74.8 36

 37 Checkable deposits 61.6 110.3 -13.8 22.6 -4.7 17.3 54.9 91.4 78.1 -40.1 37

 38 Federal government 10.3 1.7 -5.8 7.3 -3.4 5.3 5.5 -5.9 12.1 -18.9 38

 39 Rest of the world 0.0 2.7 -1.4 -0.6 0.1 -0.4 -2.2 1.7 -0.3 1.6 39

 40 Private domestic 51.4 106.0 -6.5 15.8 -1.4 12.3 51.6 95.6 66.3 -22.8 40

 41 Small time and savings deposits 119.5 101.1 64.8 110.6 90.5 48.4 -14.8 -73.4 -79.1 -42.5 41

 42 Large time deposits 16.6 -5.1 45.8 46.2 8.8 -62.3 -108.4 -84.1 -23.6 15.8 42

 43 Federal funds and security RPs (net) 25.0 30.9 40.4 30.8 -11.8 -48.6 -49.6 12.3 44.5 81.8 43

 44 Credit market instruments 13.4 19.1 29.8 17.8 -16.3 -29.7 -45.1 4.5 21.5 24.4 44

 45 Open market paper -10.9 -8.7 -1.0 -3.3 -5.3 -4.4 -4.7 -0.1 -2.5 -0.3 45

 46 Corporate bonds 9.1 7.1 5.0 1.6 -0.6 -1.4 -3.2 5.2 2.1 2.6 46

 47 Other loans and advances 15.2 20.6 25.8 19.4 -10.5 -23.9 -37.3 -0.6 21.9 22.1 47

 48 Corporate equity issues 1.4 1.4 1.5 2.5 1.5 2.1 0.9 4.3 1.9 1.8 48

 49 Taxes payable (net) 0.2 0.3 -2.4 0.2 -1.3 -0.1 -1.4 -0.2 -2.9 -2.0 49

 50 Miscellaneous liabilities 43.3 27.7 -3.9 49.1 18.7 14.4 -2.2 25.0 24.7 43.7 50

 51 Investment by holding companies 15.1 18.0 23.2 23.0 10.4 17.3 14.6 36.8 30.1 15.5 51

 52 Other 28.1 9.7 -27.1 26.1 8.3 -2.9 -16.7 -11.8 -5.3 28.2 52

 53 Discrepancy 13.2 1.3 -9.8 20.6 4.6 14.1 1.4 19.5 -39.0 -34.6 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.
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24 Historical Annuals, 1985-1994,

F.111 Foreign Banking Offices in U.S. (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Gross saving 0.6 0.6 0.7 0.8 1.0 0.8 0.9 1.1 1.5 1.7 1

 2 Fixed nonresidential investment 1.1 1.2 1.2 1.5 1.6 1.1 1.1 1.6 1.4 1.6 2

 3 Net acquisition of financial assets 22.7 42.2 49.2 30.2 93.3 7.9 71.5 65.1 33.6 48.6 3

 4 Reserves at Federal Reserve 0.7 0.6 -0.4 -1.1 -0.0 0.2 -0.3 -0.3 0.3 -0.0 4

 5 Credit market instruments 16.4 35.0 34.1 29.3 26.8 28.4 48.5 16.6 -10.1 11.3 5

 6 Open market paper 0.3 -0.2 1.2 -0.5 0.4 2.0 -1.0 0.2 -0.9 -0.2 6

 7 Treasury securities -0.0 2.1 -0.4 0.1 -0.2 5.0 9.4 8.7 6.5 -3.5 7

 8 Agency- and GSE-backed securities 0.5 1.5 1.2 1.1 0.3 1.9 4.0 2.9 7.4 1.5 8

 9 Municipal securities -0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Corporate and foreign bonds 3.5 5.0 3.0 -0.7 1.1 2.9 3.7 1.0 1.4 5.1 10

 11 Depository institution loans n.e.c. 10.5 21.9 17.3 20.4 14.0 6.9 29.3 10.0 -14.0 15.3 11

 12 Other loans and advances 1.6 1.7 6.5 0.7 3.1 -5.7 -5.6 -3.6 -4.0 -2.1 12

 13 Mortgages 0.1 2.9 5.2 8.1 8.1 15.3 8.8 -2.7 -6.5 -4.8 13

 14 Corporate equities 0.1 0.0 -0.1 -0.0 0.0 0.0 0.0 -0.0 0.0 -0.0 14

 15 Security credit 4.2 0.1 -2.1 -0.1 0.1 3.4 8.4 13.9 8.6 -1.2 15

 16 Miscellaneous assets 1.2 6.5 17.7 2.1 66.5 -24.1 14.8 34.9 34.7 38.5 16

 17 Net increase in liabilities 23.0 42.6 49.5 30.9 93.9 8.6 72.1 65.7 34.2 49.2 17

 18 Net interbank liabilities 11.6 15.8 14.9 4.0 4.8 8.3 1.9 32.3 16.7 11.3 18

 19 To foreign banks 6.6 17.0 22.9 1.8 -3.7 7.8 -5.6 49.3 29.2 25.8 19

 20 To domestic banks 5.0 -1.2 -8.0 2.2 8.4 0.5 7.5 -17.0 -12.5 -14.5 20

 21 Checkable deposits 2.1 0.9 -0.6 1.0 -0.3 0.4 0.2 -0.6 0.0 0.4 21

 22 Small time and savings deposits 1.1 2.2 0.6 0.5 3.7 -1.0 -0.1 0.2 -0.8 -1.1 22

 23 Large time deposits -0.2 7.6 3.8 6.3 4.4 -3.7 50.1 9.0 -0.8 2.6 23

 24 Federal funds and security RPs (net) 4.5 8.4 -1.7 4.5 2.3 8.4 8.8 0.7 -4.3 6.7 24

 25 Acceptance liabilities 1.5 2.8 6.6 0.5 1.0 -0.9 -9.6 -3.8 -5.1 -2.6 25

 26 Miscellaneous liabilities 2.4 4.8 25.8 14.0 78.0 -3.0 20.9 28.0 28.5 32.0 26

 27 Foreign direct investment in U.S. 1.4 1.6 1.7 2.7 2.3 0.9 2.6 2.7 2.2 3.4 27

 28 Investment by funding corporations 2.2 4.2 7.2 12.8 2.6 -1.8 -0.5 3.9 -6.6 -0.5 28

 29 Other -1.3 -0.9 16.9 -1.5 73.1 -2.0 18.8 21.4 32.9 29.0 29

 30 Discrepancy -0.2 -0.2 -0.2 0.0 -0.0 0.3 0.4 0.2 0.7 0.8 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).
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Historical Annuals, 1985-1994, 25

F.112 Banks in U.S.-Affiliated Areas (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Gross saving 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 1

 2 Fixed nonresidential investment 0.0 0.0 0.1 0.1 0.1 0.0 0.1 0.1 0.1 0.1 2

 3 Net acquisition of financial assets 1.9 -1.1 -0.5 2.1 2.5 4.6 -2.4 3.1 2.0 3.2 3

 4 Credit market instruments 2.7 0.9 0.1 0.8 1.6 4.5 -1.9 3.7 2.4 3.3 4

 5 Treasury securities 0.1 0.5 0.0 0.2 0.4 0.3 0.3 1.5 1.5 -0.6 5

 6 Agency- and GSE-backed securities 0.0 0.0 0.0 0.4 0.4 0.1 0.1 1.1 0.2 0.5 6

 7 Municipal securities 0.0 0.0 0.0 0.1 -0.0 0.0 -0.1 -0.0 -0.2 0.4 7

 8 Corporate and foreign bonds 0.4 0.1 0.0 -0.9 0.0 -0.0 0.1 0.2 0.2 -0.1 8

 9 Depository institution loans n.e.c. 2.1 0.2 -0.1 0.4 0.1 3.3 -3.0 0.2 -0.5 1.7 9

 10 Home mortgages 0.1 0.1 0.1 0.2 0.2 0.2 -0.0 1.0 1.2 0.6 10

 11 Commercial mortgages 0.1 0.1 0.1 0.4 0.5 0.7 0.7 -0.2 0.1 0.9 11

 12 Miscellaneous assets -0.8 -2.1 -0.6 1.4 0.9 0.1 -0.5 -0.7 -0.4 -0.1 12

 13 Net increase in liabilities 2.3 -1.3 -1.3 1.5 2.2 4.4 -3.1 2.5 1.3 3.5 13

 14 Net interbank liabilities -0.4 0.1 0.8 0.6 0.4 0.1 0.8 0.5 0.3 -0.4 14

 15 Checkable deposits 0.3 0.4 -0.0 0.3 0.5 -0.7 -0.2 0.6 0.3 0.1 15

 16 Small time and savings deposits 0.3 0.5 -0.1 0.3 0.5 2.1 -1.0 0.4 -0.2 0.8 16

 17 Large time deposits 0.3 0.5 -0.1 0.3 0.5 2.1 -1.0 0.4 -0.2 0.8 17

 18 Miscellaneous liabilities 1.7 -2.8 -1.9 0.1 0.3 0.8 -1.6 0.6 1.1 2.3 18

 19 Discrepancy 0.3 -0.2 -0.8 -0.7 -0.3 -0.3 -0.6 -0.6 -0.7 0.3 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 1.4 0.8 1.0 1.2 1.6 1.6 2.5 5.1 5.5 5.3 1

 2 Fixed nonresidential investment 0.6 0.6 0.7 0.9 1.0 0.7 0.6 0.9 0.8 0.9 2

 3 Net acquisition of financial assets 14.6 18.4 16.6 17.2 8.1 12.8 18.5 22.9 23.5 23.1 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 13.4 15.5 17.5 17.5 7.1 10.6 12.8 17.7 21.7 28.1 5

 6 Open market paper 0.1 0.6 -0.3 0.4 0.3 1.2 0.3 0.4 -0.7 -0.1 6

 7 Treasury securities 2.4 1.8 3.2 3.3 -2.3 -3.6 5.5 5.9 2.6 -0.5 7

 8 Agency- and GSE-backed securities 1.1 1.8 0.0 -1.7 -0.9 8.2 5.2 9.1 7.7 4.5 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 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Depository institution loans n.e.c. 0.0 0.0 0.0 0.0 0.0 -0.9 -1.1 -1.9 0.2 0.9 11

 12 Home mortgages 3.6 8.2 10.5 8.2 6.8 5.8 4.2 2.9 1.9 5.2 12

 13 Consumer credit 6.1 3.1 4.0 7.3 3.3 -0.1 -1.3 1.4 9.9 18.0 13

 14 Mutual fund shares 0.0 0.0 -0.0 -0.4 -0.1 0.2 1.2 1.5 0.1 -1.6 14

 15 Miscellaneous assets 1.2 2.9 -0.9 0.0 1.1 2.0 4.6 3.7 1.7 -3.4 15

 16 Net increase in liabilities 13.4 17.1 15.4 15.9 7.0 11.5 16.9 19.9 19.8 20.7 16

 17 Net interbank liabilities -5.7 -7.8 -0.4 3.3 2.1 -0.4 -5.6 -1.5 1.4 8.9 17

 18 Shares/deposits 22.9 27.2 13.3 12.4 8.6 13.8 20.5 21.6 12.6 7.9 18

 19 Checkable 3.1 0.4 1.7 0.8 1.3 1.5 2.2 4.5 1.7 2.0 19

 20 Small time and savings 19.4 26.1 11.4 11.3 4.2 14.4 17.5 15.5 9.8 5.5 20

 21 Large time 0.3 0.7 0.3 0.4 3.1 -2.1 0.8 1.6 1.1 0.4 21

 22 Federal funds and security RPs (net) -3.7 -2.5 1.6 -0.1 -3.1 -2.1 1.4 -0.4 5.1 2.3 22

 23 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.2 23

 24 Miscellaneous liabilities -0.1 0.2 0.9 0.4 -0.6 0.2 0.6 0.1 0.5 1.4 24

 25 Discrepancy -0.4 -1.1 -0.8 -0.9 -0.5 -0.3 0.2 1.2 1.0 2.0 25
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26 Historical Annuals, 1985-1994,

F.114 Property-Casualty Insurance Companies

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Gross saving less net capital transfers paid (1) -4.0 1.7 5.7 6.3 3.0 2.4 2.2 -18.9 2.9 -10.3 1

 2 Fixed nonresidential investment 4.8 5.0 5.2 5.6 6.9 7.7 7.4 8.9 8.0 10.1 2

 3 Net acquisition of financial assets 31.9 46.2 48.5 45.1 41.7 26.4 25.2 9.4 31.7 27.5 3

 4 Checkable deposits and currency 1.2 1.3 -0.1 -0.1 0.6 0.5 -1.1 0.2 -0.4 -0.2 4

 5 Money market fund shares 2.0 0.0 0.3 1.2 -0.0 1.1 -1.4 2.0 -0.3 -0.8 5

 6 Security RPs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Credit market instruments 28.6 39.5 40.1 30.9 28.7 28.5 27.4 10.4 27.1 23.4 7

 8 Open market paper 2.9 0.1 0.4 1.6 -0.0 1.6 -2.0 2.8 -0.4 -1.1 8

 9 Treasury securities 5.8 12.7 8.6 9.4 10.8 8.3 23.3 3.5 14.1 9.0 9

 10 Agency- and GSE-backed securities 7.8 -0.6 0.1 0.2 3.4 5.9 9.7 -0.3 1.3 1.6 10

 11 Municipal securities 3.8 13.3 23.0 8.9 0.1 1.8 -10.7 6.3 10.4 7.4 11

 12 Corporate and foreign bonds 7.7 13.0 7.4 10.1 13.6 10.4 7.4 -1.2 3.3 7.2 12

 13 Commercial mortgages 0.7 1.0 0.6 0.6 0.9 0.4 -0.4 -0.6 -1.4 -0.7 13

 14 Corporate equities -2.0 -0.3 2.7 3.6 7.9 -7.0 -1.2 -0.4 0.8 0.8 14

 15 Mutual fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.3 15

 16 Trade receivables 2.2 4.9 3.6 6.8 2.8 2.0 1.9 -0.1 1.7 2.2 16

 17 Miscellaneous assets -0.1 0.7 1.8 2.7 1.6 1.4 -0.3 -2.7 2.8 1.7 17

 18 Net increase in liabilities 38.9 45.2 41.0 29.5 31.7 23.3 13.6 20.4 21.5 12.4 18

 19 Security RPs 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 1.5 2.2 -2.0 -2.1 -1.6 -3.8 -2.6 -1.0 3.6 -3.5 20

 21 Taxes payable (net) 0.1 0.2 0.5 0.3 -0.7 0.7 0.7 -1.7 2.1 -0.4 21

 22 Miscellaneous liabilities 37.3 42.7 42.4 31.3 34.0 26.5 15.5 23.1 15.8 16.4 22

 23 Discrepancy -1.8 -4.3 -7.0 -14.9 -13.9 -8.4 -16.8 -16.8 -15.2 -35.5 23

(1) Net capital transfers paid from table F.9, line 51.

F.115 Life Insurance Companies

Billions of dollars

 1 Gross saving 0.5 -5.0 -8.0 0.3 -1.1 -2.7 1.0 -2.6 -5.1 6.1 1

 2 Fixed nonresidential investment 4.2 4.4 4.6 5.0 6.2 6.9 6.7 8.0 7.3 9.1 2

 3 Net acquisition of financial assets 90.6 104.7 101.2 113.7 114.1 112.1 110.6 97.7 142.5 126.2 3

 4 Checkable deposits and currency 0.5 0.7 -0.9 -0.3 0.5 -0.1 0.5 -0.6 0.4 0.4 4

 5 Money market fund shares 2.1 0.9 -3.1 0.1 -0.8 2.2 0.1 0.1 0.1 0.1 5

 6 Security RPs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Credit market instruments 76.5 87.9 88.6 103.1 100.1 107.2 80.8 79.5 100.4 72.0 7

 8 Open market paper -0.2 5.4 -0.4 5.1 3.6 2.9 0.0 -2.5 3.6 5.9 8

 9 Treasury securities 10.5 7.3 -2.0 1.4 -5.7 6.3 18.6 10.2 20.1 -2.9 9

 10 Agency- and GSE-backed securities 12.5 10.6 7.0 8.6 25.0 20.3 42.4 27.7 27.6 11.3 10

 11 Municipal securities 1.0 2.0 -1.0 -1.6 -0.1 3.3 -2.1 1.1 3.2 -1.9 11

 12 Corporate and foreign bonds 37.8 40.8 66.9 68.4 52.8 56.5 25.4 55.0 58.3 59.9 12

 13 Other loans and advances -0.1 -0.3 -0.4 0.6 3.2 4.1 4.8 5.7 5.7 7.8 13

 14 Mortgages 15.1 22.0 18.5 20.5 21.4 13.6 -8.4 -17.5 -18.1 -8.1 14

 15 Corporate equities 4.8 -2.1 5.7 -3.4 9.7 -5.7 17.0 12.4 41.1 42.5 15

 16 Mutual fund shares 1.1 10.2 -2.2 5.7 -4.1 12.6 1.0 9.0 1.5 4.4 16

 17 Miscellaneous assets 5.6 7.0 13.0 8.6 8.7 -4.1 11.2 -2.8 -1.0 6.8 17

 18 Net increase in liabilities 80.4 100.5 94.9 104.8 103.3 109.0 96.6 103.7 124.4 118.4 18

 19 Security RPs 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 -0.1 0.6 -0.9 -0.1 -0.6 -1.4 -0.1 0.6 -0.8 -1.7 20

 21 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.3 21

 22 Life insurance reserves 10.4 17.2 25.7 24.9 28.4 25.3 25.6 27.7 35.7 34.3 22

 23 Pension entitlements (1) 55.6 63.4 30.9 69.2 52.3 79.7 38.8 82.4 81.4 45.5 23

 24 Taxes payable (net) 0.4 0.7 0.2 0.5 0.9 0.5 1.1 1.4 1.6 1.0 24

 25 Miscellaneous liabilities 14.0 18.6 38.8 10.3 22.3 4.9 31.2 -8.4 6.3 39.1 25

 26 Discrepancy -13.9 -13.6 -18.9 -13.6 -18.0 -12.7 -19.6 -4.6 -30.5 -10.8 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).
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Historical Annuals, 1985-1994, 27

F.116 Private and Public Pension Funds (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Gross saving 0.4 0.5 0.5 0.6 0.7 0.7 0.8 0.7 0.7 0.7 1

 2 Fixed nonresidential investment 1.4 1.8 2.0 2.1 2.4 2.4 2.1 2.1 2.5 1.9 2

 3 Net acquisition of financial assets (2) 174.4 165.4 192.7 213.8 213.2 218.9 261.7 250.0 276.1 292.4 3

 4 Checkable deposits and currency 0.3 -0.6 1.5 2.4 -1.6 1.0 -1.5 2.7 0.3 1.0 4

 5 Time and savings deposits 9.9 7.0 -15.5 12.8 29.4 -5.6 6.7 -19.0 -4.1 3.0 5

 6 Money market fund shares 3.6 2.2 2.1 2.3 3.4 -0.0 1.2 1.2 7.5 6.1 6

 7 Security RPs 10.8 5.0 2.6 1.2 1.6 1.2 10.4 6.0 -3.3 1.2 7

 8 Credit market instruments 42.3 49.4 46.4 45.4 84.7 66.6 30.7 66.1 66.1 53.5 8

 9 Open market paper 4.9 7.6 10.2 -7.1 -1.2 2.1 9.9 5.6 -3.5 1.2 9

 10 Treasury securities 37.6 14.2 24.8 13.1 13.6 18.2 -5.5 32.4 12.3 18.5 10

 11 Agency- and GSE-backed securities 17.3 -7.9 17.9 6.8 39.7 34.3 8.1 -7.6 10.4 45.0 11

 12 Corporate and foreign bonds -21.4 38.4 -3.4 24.2 26.5 9.4 23.8 40.0 49.5 -6.5 12

 13 Mortgages 4.3 -2.5 -3.3 8.7 6.3 2.4 -5.9 -4.1 -3.5 -4.5 13

 14 Corporate equities 39.9 11.1 32.5 29.6 -19.8 23.4 52.3 17.7 71.2 24.7 14

 15 Mutual fund shares 2.0 -0.1 6.1 -2.6 4.6 7.1 16.2 26.4 40.6 74.4 15

 16 Miscellaneous assets 65.6 91.6 116.9 122.6 111.0 125.2 145.8 148.9 97.7 128.5 16

 17 Claims of pension fund on sponsor (3) -2.6 42.1 57.3 67.2 66.8 108.4 79.3 131.7 68.2 48.5 17

 18 Other 22.6 5.9 -5.6 22.0 -9.9 -32.3 -4.7 -12.9 -13.0 0.1 18

 19 Pension entitlements (liabilities) (4) 175.4 166.7 194.1 215.3 215.0 220.5 263.0 251.5 277.9 293.6 19

 Memo:

 20 Household retirement assets (5) 295.1 305.0 288.9 330.2 323.8 390.6 389.0 410.3 431.6 410.2 20

 21 Defined benefit plans (6) 141.6 139.6 149.8 167.1 174.5 186.6 195.4 208.1 211.4 217.8 21

 22 Defined contibution plans (7) 32.9 25.8 42.9 46.7 38.7 32.2 66.3 41.9 64.7 74.6 22

 23 Individual retirement plans (IRAs) (8) 72.8 81.7 73.2 55.3 56.9 96.4 95.6 82.9 86.7 85.6 23

 24 Annuities at life insurance companies (9) 47.9 57.8 23.1 61.1 53.6 75.3 31.7 77.4 68.8 32.3 24

(1) Private pension funds, state and local government employee retirement funds, and federal government employee retirement funds defined benefit plans and defined contribution plans (including 401(k) type plans).

(2) Includes claims on sponsor (i.e., unfunded pension entitlements).

(3) Unfunded defined benefit pension entitlements. Negative values indicate overfunding.

(4) Actuarial value of accrued pension entitlements in defined benefit plans and assets of defined contribution plans. These liabilities are assets of the household sector.

(5) Households’ retirement assets in tax-deferred accounts, including employer sponsored pension plans, IRAs, Roth IRAs, and annuities.

(6) Additional detail on private defined benefit plans is available on table L.117.b.

(7) Additional detail on private defined contribution plans is available on table L.117.c.

(8) IRA assets are not included above. See table L.226.i for a sectoral distribution of IRA accounts.

(9) Annuities held in IRAs at life insurance companies are excluded. They are included in line 23.
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28 Historical Annuals, 1985-1994,

F.117 Private Pension Funds (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Gross saving 0.3 0.3 0.4 0.4 0.4 0.4 0.4 0.4 0.3 0.4 1

 2 Fixed nonresidential investment 1.1 1.4 1.6 1.6 1.8 1.6 1.3 1.2 1.2 1.1 2

 3 Net acquisition of financial assets (2) 71.6 56.3 80.4 95.5 81.7 80.3 114.5 85.0 111.0 121.3 3

 4 Checkable deposits and currency -0.0 -1.4 -0.2 2.9 -0.4 -0.8 -0.3 -0.0 0.2 0.9 4

 5 Time and savings deposits 8.6 10.4 -10.8 10.9 27.5 -4.2 5.5 -17.1 -3.4 6.7 5

 6 Money market fund shares 2.1 1.9 1.8 2.0 2.9 -0.0 1.0 1.0 6.5 5.3 6

 7 Security RPs 8.3 1.7 -0.4 2.3 2.1 -1.3 3.7 0.2 0.9 -6.2 7

 8 Credit market instruments 23.1 4.6 13.6 22.0 51.6 43.5 25.4 26.0 36.2 39.7 8

 9 Open market paper 2.4 4.3 7.2 -6.1 -0.7 -0.4 3.3 -0.2 0.7 -6.2 9

 10 Treasury securities 20.2 -15.7 0.2 -0.3 9.7 -0.1 -5.3 -8.5 -4.4 16.8 10

 11 Agency- and GSE-backed securities 22.5 -8.0 13.1 14.4 23.8 22.6 12.9 10.5 14.2 40.9 11

 12 Corporate and foreign bonds -26.2 26.8 -3.9 5.5 12.1 19.8 21.2 27.8 27.2 -6.6 12

 13 Mortgages 4.3 -2.8 -3.1 8.5 6.6 1.6 -6.7 -3.7 -1.6 -5.2 13

 14 Corporate equities 11.3 -12.9 0.1 6.8 -33.9 0.6 12.8 2.7 36.3 -3.1 14

 15 Mutual fund shares 2.0 1.8 2.2 -0.5 5.1 6.6 11.2 22.2 34.6 55.3 15

 16 Miscellaneous assets 16.2 50.1 74.1 49.2 26.8 36.0 55.2 50.2 -0.3 22.7 16

 17 Unallocated insurance contracts (3) 0.0 13.9 33.5 1.9 12.3 9.6 20.8 -19.6 -6.9 30.6 17

 18 Contributions receivable 5.8 0.0 1.5 -1.2 7.3 6.1 12.1 9.9 12.3 11.7 18

 19 Claims of pension fund on sponsor (4) -12.1 30.5 44.6 28.1 21.3 54.1 23.9 72.8 6.9 -19.1 19

 20 Other 22.4 5.7 -5.5 20.5 -14.1 -33.8 -1.5 -12.9 -12.6 -0.4 20

 21 Pension entitlements (liabilities) (5) 72.4 57.4 81.6 96.6 83.1 81.5 115.4 85.9 111.8 122.1 21

 Memo:

 Net acquisition of financial assets (6)

 22 Defined benefit plans 38.7 30.5 38.6 50.4 45.2 50.9 51.4 47.4 51.1 52.1 22

 23 Defined contibution plans 32.9 25.8 41.8 45.1 36.5 29.4 63.2 37.7 59.9 69.2 23

(1) Private defined benefit plans and defined contribution plans (including 401(k) type plans).

(2) Includes claims on sponsor (i.e., unfunded pension entitlements).

(3) Assets of private pension plans held at life insurance companies (e.g., GICs, variable annuities); series begins 1985:Q4.

(4) Unfunded defined benefit pension entitlements. Negative values indicate overfunding.

(5) Actuarial value of accrued pension entitlements in defined benefit plans and assets of defined contribution plans. These liabilities are assets of the household sector.

(6) Additional detail on defined benefit plans and defined contribution plans is available on F.117.b and F.117.c.
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Historical Annuals, 1985-1994, 29

F.118 State and Local Government Employee Retirement Funds (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Gross saving 0.2 0.2 0.2 0.2 0.3 0.3 0.3 0.3 0.4 0.3 1

 2 Fixed nonresidential investment 0.3 0.4 0.5 0.6 0.6 0.8 0.8 1.0 1.2 0.8 2

 3 Net acquisition of financial assets (2) 43.6 46.7 50.4 54.2 64.6 70.1 76.2 90.9 93.2 98.1 3

 4 Checkable deposits and currency 0.4 0.7 1.8 -0.4 -1.2 1.8 -1.2 2.7 0.1 0.1 4

 5 Time and savings deposits 1.4 -3.4 -4.7 1.9 1.9 -1.4 1.1 -1.9 -0.7 -3.7 5

 6 Money market fund shares 1.4 0.3 0.3 0.3 0.5 0.0 0.2 0.2 1.0 0.8 6

 7 Security RPs 2.5 3.3 3.0 -1.1 -0.5 2.5 6.6 5.8 -4.2 7.4 7

 8 Credit market instruments 19.2 44.7 31.7 21.8 30.9 20.5 2.6 37.1 26.9 10.1 8

 9 Open market paper 2.5 3.3 3.0 -1.1 -0.5 2.5 6.6 5.8 -4.2 7.4 9

 10 Treasury securities 17.5 29.9 23.5 11.8 1.7 15.8 -2.7 38.0 13.9 -1.9 10

 11 Agency- and GSE-backed securities -5.2 0.0 4.8 -7.6 15.9 11.6 -4.8 -18.3 -4.0 4.1 11

 12 Municipal securities -0.4 -0.4 0.1 -0.3 -0.3 0.2 0.1 -0.2 0.9 -0.3 12

 13 Corporate and foreign bonds 4.8 11.7 0.4 18.7 14.4 -10.5 2.6 12.2 22.1 0.1 13

 14 Mortgages 0.1 0.2 -0.2 0.3 -0.3 0.8 0.8 -0.4 -1.9 0.7 14

 15 Corporate equities 28.6 24.0 32.4 22.9 14.0 22.5 39.1 13.8 33.3 26.1 15

 16 Mutual fund shares 0.0 -1.9 3.9 -2.1 -0.6 0.5 5.0 4.3 6.1 19.1 16

 17 Miscellaneous assets -9.8 -21.0 -17.9 10.9 19.5 23.6 22.8 28.8 30.9 38.3 17

 18 Claims of pension fund on sponsor (3) -10.0 -21.2 -17.8 9.4 15.3 22.0 26.0 28.9 31.3 37.8 18

 19 Other 0.1 0.2 -0.1 1.5 4.2 1.6 -3.2 -0.1 -0.4 0.5 19

 20 Pension entitlements (liabilities) (4) 43.7 46.9 50.7 54.5 65.0 70.6 76.7 91.5 94.1 98.6 20

(1) Defined benefit plans.

(2) Includes claims on sponsor (i.e., unfunded pension entitlements).

(3) Unfunded defined benefit pension entitlements. Negative values indicate overfunding.

(4) Actuarial value of accrued defined benefit pension entitlements. These liabilities are assets of the household sector.

F.119 Federal Government Employee Retirement Funds

Billions of dollars

 1 Net acquisition of financial assets (1) 59.3 62.4 61.8 64.2 66.9 68.4 70.9 74.1 71.9 72.9 1

 2 Credit market instruments 0.0 0.0 1.1 1.6 2.1 2.5 2.6 3.0 3.1 3.7 2

 3 Treasury securities 0.0 0.0 1.1 1.6 2.1 2.5 2.5 2.8 2.8 3.5 3

 4 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.2 0.1 4

 5 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.1 5

 6 Corporate equities 0.0 0.0 0.0 0.0 0.0 0.3 0.5 1.2 1.7 1.7 6

 7 Miscellaneous assets (2) 59.3 62.4 60.8 62.5 64.7 65.6 67.8 69.8 67.2 67.5 7

 8 Nonmarketable Treasury securities 39.9 29.6 30.3 32.8 34.6 33.4 38.4 39.8 37.1 37.6 8

 9 Claims of pension fund on sponsor (3) 19.4 32.9 30.5 29.8 30.2 32.2 29.5 30.0 30.1 29.9 9

 10 Pension entitlements (liabilities) (4) 59.3 62.4 61.8 64.2 66.9 68.4 70.9 74.1 71.9 72.9 10

 Memo:

 Net acquisition of financial assets

 11 Defined benefit plans (2) 59.3 62.4 60.8 62.5 64.7 65.6 67.8 69.8 67.2 67.5 11

 12 Defined contibution plans (5) 0.0 0.0 1.1 1.7 2.2 2.8 3.1 4.3 4.7 5.4 12

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(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) Unfunded defined benefit pension entitlements. Negative values indicate overfunding.

(4) Actuarial value of accrued pension entitlements in defined benefit plans and assets of defined contribution plans. These liabilities are assets of the household sector.

(5) Includes the Thrift Savings Plan and the National Railroad Retirement Investment Trust.
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30 Historical Annuals, 1985-1994,

F.120 Money Market Mutual Funds (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Net acquisition of financial assets 10.2 48.2 23.2 21.2 89.7 68.6 41.6 4.5 20.2 40.5 1

 2 Foreign deposits -2.2 3.1 -0.6 7.9 -3.2 0.6 -5.3 -1.2 -10.3 5.7 2

 3 Checkable deposits and currency 1.4 -0.2 -0.3 1.0 -0.6 11.1 -11.5 -2.4 1.4 -1.3 3

 4 Time and savings deposits -6.7 2.7 14.5 -0.8 9.3 -21.1 13.2 -0.5 -2.8 -0.5 4

 5 Security RPs 3.3 6.0 7.0 2.3 13.1 3.9 8.8 -1.0 0.4 2.4 5

 6 Credit market instruments 14.0 34.9 1.9 10.5 68.3 77.5 32.7 4.7 20.4 30.0 6

 7 Open market paper 1.1 6.1 5.7 17.4 57.0 19.5 -13.4 -17.0 -9.1 22.7 7

 8 Treasury securities -0.8 3.4 -13.7 -2.7 3.2 30.2 33.4 0.2 1.0 -13.3 8

 9 Agency- and GSE-backed securities 1.1 -3.0 11.7 -8.6 2.7 15.6 4.2 13.6 13.5 9.4 9

 10 Municipal securities 12.5 27.6 -2.3 4.3 4.0 13.9 6.6 5.4 9.6 7.8 10

 11 Corporate and foreign bonds 0.2 0.8 0.4 0.1 1.4 -1.7 1.8 2.5 5.4 3.4 11

 12 Miscellaneous assets 0.3 1.6 0.8 0.3 2.9 -3.5 3.7 5.0 11.0 4.1 12

 13 Net share issues (liabilities) 10.2 48.2 23.2 21.2 89.7 68.6 41.6 4.5 20.2 40.5 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.121 Mutual Funds (1)

Billions of dollars

 1 Gross saving 1.1 4.0 -6.0 -4.4 -6.2 -1.2 2.6 3.1 4.1 -11.0 1

 2 Net acquisition of financial assets 86.5 153.3 60.2 -1.6 27.4 53.7 133.9 190.5 292.0 100.6 2

 3 Security RPs 0.1 1.5 0.8 1.3 -0.2 1.4 6.1 9.7 16.8 4.4 3

 4 Credit market instruments 76.1 129.9 31.3 13.3 22.7 36.2 80.1 126.2 159.5 -7.1 4

 5 Open market paper -0.5 7.9 3.6 9.1 -0.6 3.7 -16.3 9.7 16.8 4.4 5

 6 Treasury securities 32.2 32.4 12.8 -3.8 1.2 5.7 16.8 6.5 23.6 -3.5 6

 7 Agency- and GSE-backed securities 20.7 37.3 2.8 -3.4 1.6 8.1 24.1 50.3 25.7 -6.9 7

 8 Municipal securities 15.8 32.1 7.9 8.1 15.7 13.9 27.2 28.7 42.9 -4.3 8

 9 Corporate and foreign bonds 8.0 20.2 4.1 3.2 4.8 4.7 28.4 31.0 50.6 3.2 9

 10 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Corporate equities 10.3 20.2 26.9 -16.0 1.2 14.4 48.5 59.8 115.3 100.8 11

 12 Miscellaneous assets 0.0 1.7 1.1 -0.3 3.6 1.7 -0.7 -5.2 0.3 2.5 12

 13 Net share issues (liabilities) 86.5 153.3 60.2 -1.6 27.4 53.7 133.9 190.5 292.0 100.6 13

 14 Discrepancy 1.1 4.0 -6.0 -4.4 -6.2 -1.2 2.6 3.1 4.1 -11.0 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.122 Closed-End and Exchange-Traded Funds

Billions of dollars

 Closed-end funds

 1 Net acquisition of financial assets 1.0 5.8 7.3 20.6 6.3 1.4 14.6 20.2 23.7 2.4 1

 2 Credit market instruments 1.4 2.9 4.0 17.9 6.6 1.3 12.8 20.2 20.0 -3.7 2

 3 Treasury securities 0.1 0.4 0.6 3.2 1.8 0.2 3.1 1.7 2.1 -1.0 3

 4 Municipal securities 1.0 1.1 1.3 4.2 4.6 2.0 11.3 14.3 12.1 1.6 4

 5 Corporate and foreign bonds 0.3 1.4 2.1 10.4 0.1 -0.9 -1.6 4.2 5.8 -4.4 5

 6 Corporate equities -0.4 2.9 3.3 2.8 -0.3 0.1 1.8 -0.0 3.7 6.1 6

 7 Net share issues (liabilities) 1.0 5.8 7.3 20.6 6.3 1.4 14.6 20.2 23.7 2.4 7

 Exchange-traded funds

 8 Net acquisition of financial assets 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.5 -0.0 8

 9 Credit market instruments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Treasury securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 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 0.0 0.0 0.0 12

 13 Corporate equities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.5 -0.0 13

 14 Net share issues (liabilities) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.5 -0.0 14
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Historical Annuals, 1985-1994, 31

F.123 Government-Sponsored Enterprises (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Gross saving 0.1 -0.3 0.6 1.4 1.8 1.7 1.9 1.5 1.7 1.5 1

 2 Fixed nonresidential investment 0.5 0.5 0.4 0.4 0.3 0.3 0.3 0.3 0.5 0.5 2

 3 Net acquisition of financial assets 28.7 22.5 27.9 47.3 32.5 23.4 19.2 56.0 78.8 150.7 3

 4 Checkable deposits and currency 0.8 1.5 -0.1 -0.0 -1.3 -0.2 -0.9 -0.0 0.9 -0.8 4

 5 Time and savings deposits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Federal funds and security RPs (net) 6.0 2.5 -2.2 6.6 28.0 6.9 -1.1 -1.0 -16.2 35.4 6

 7 Credit market instruments 25.1 16.6 23.4 33.3 -4.3 14.0 15.0 69.3 88.5 121.2 7

 8 Open market paper -0.6 -0.0 -0.0 0.4 2.9 0.5 7.1 2.7 -1.7 14.4 8

 9 Treasury securities 4.1 9.5 4.7 5.3 -13.3 21.3 18.2 17.9 -7.1 0.3 9

 10 Agency- and GSE-backed securities 0.1 -0.6 -0.1 0.2 5.9 5.6 11.1 12.7 18.6 64.8 10

 11 Municipal securities 0.4 0.7 0.2 0.5 -0.0 0.8 -0.7 0.2 -0.1 2.0 11

 12 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11.1 8.9 12

 13 Other loans and advances 10.3 17.6 25.0 18.8 -8.6 -23.1 -34.1 0.6 23.8 23.6 13

 14 Sallie Mae 1.0 0.8 1.4 -0.3 0.5 1.0 1.1 -1.6 -0.8 0.0 14

 15 Farm Credit System -4.9 -3.1 -0.8 -0.7 1.9 0.5 2.8 1.4 1.4 0.8 15

 16 FHLB loans 14.2 19.8 24.4 19.7 -11.0 -24.7 -38.0 0.8 23.3 22.8 16

 17 Mortgages 9.6 -12.0 -8.3 5.0 6.0 5.7 11.5 32.1 41.3 3.6 17

 18 Home 17.2 -5.7 -3.1 6.2 5.1 5.3 11.2 30.3 40.0 3.0 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 17.2 -5.7 -3.1 6.2 5.1 5.3 11.2 30.3 40.0 3.0 20

 21 Multifamily residential 1.9 0.3 -0.3 1.1 2.5 1.2 1.0 1.6 1.7 0.9 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 1.9 0.3 -0.3 1.1 2.5 1.2 1.0 1.6 1.7 0.9 23

 24 Farm -9.5 -6.5 -4.9 -2.3 -1.5 -0.9 -0.7 0.1 -0.5 -0.3 24

 25 Consumer credit (3) 1.2 1.4 1.9 3.2 2.8 3.2 1.9 3.1 2.6 3.6 25

 26 Miscellaneous assets -3.1 1.9 6.9 7.5 10.0 2.7 6.3 -12.3 5.6 -5.2 26

 27 Net increase in liabilities 31.6 23.8 28.3 47.1 30.7 18.4 15.3 53.2 78.0 147.5 27

 28 Credit market instruments 21.7 14.9 29.5 44.9 25.2 17.0 9.2 40.7 80.6 172.1 28

 29 GSE issues (4) 20.6 15.2 30.2 44.9 25.2 17.1 9.2 40.7 80.6 176.9 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 20.6 15.2 30.2 44.9 25.2 17.1 9.2 40.7 80.6 176.9 31

 32 U.S. government loans 1.1 -0.4 -0.8 0.0 0.0 -0.1 -0.0 -0.0 0.0 -4.8 32

 33 Corporate equities 1.0 0.7 1.3 1.1 -0.8 -3.2 -1.2 0.0 2.4 0.3 33

 34 Miscellaneous liabilities 8.8 8.2 -2.4 1.1 6.3 4.6 7.3 12.5 -4.9 -24.9 34

 35 Discrepancy 2.5 0.4 0.5 0.8 -0.3 -3.6 -2.4 -1.6 0.3 -2.2 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.124) 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.124 Agency- and GSE-Backed Mortgage Pools (1)

Billions of dollars

 1 Net acquisition of financial assets 78.9 164.3 137.8 75.9 124.3 150.3 136.6 115.6 84.7 115.3 1

 2 Home mortgages 77.6 159.3 133.4 70.7 120.2 147.3 139.3 117.8 86.1 115.3 2

 3 Multifamily residential mortgages 1.5 5.1 4.5 5.2 4.1 3.0 -2.6 -2.3 -1.4 -0.0 3

 4 Commercial mortgages 0.0 0.1 -0.1 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 4

 5 Farm mortgages -0.2 -0.2 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 5

 6 Net increase in pool securities (liabilities)(2) 78.9 164.3 137.8 75.9 124.3 150.3 136.6 115.6 84.7 115.3 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.123). 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.
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32 Historical Annuals, 1985-1994,

F.125 Issuers of Asset-Backed Securities (ABS)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Gross saving 0.0 0.0 0.0 0.0 0.0 0.2 0.4 0.4 0.3 0.4 1

 2 Fixed nonresidential investment 0.0 0.0 0.0 0.0 0.0 0.5 0.9 0.2 0.3 0.6 2

 3 Net acquisition of financial assets 15.8 37.5 43.6 36.1 26.9 59.1 53.3 56.4 82.5 70.0 3

 4 Treasury securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Agency- and GSE-backed securities (1) 9.0 43.4 28.2 25.4 -8.0 4.1 -23.0 -23.0 23.6 23.2 5

 6 Other loans and advances 0.0 0.0 0.0 0.0 0.6 3.6 2.5 2.9 9.7 4.3 6

 7 Mortgages (2) 6.0 -6.7 13.6 9.0 12.2 13.4 43.5 54.8 36.4 20.1 7

 8 Home 5.4 -7.4 11.2 7.1 8.5 11.7 38.1 45.5 25.6 15.1 8

 9 Multifamily residential 0.0 0.2 0.4 0.4 -0.0 -0.1 2.9 2.8 1.8 1.4 9

 10 Commercial 0.6 0.6 2.0 1.5 3.7 1.8 2.4 6.5 9.0 3.6 10

 11 Consumer credit 0.0 0.0 0.0 0.0 20.2 29.3 26.3 17.3 10.2 15.6 11

 12 Trade credit 0.9 0.9 1.8 1.7 1.9 8.7 4.1 4.3 2.6 6.8 12

 13 Net increase in liabilities 15.8 37.5 43.6 36.1 26.9 59.4 53.8 56.3 82.5 70.3 13

 14 Commercial paper 0.9 0.9 1.8 1.7 8.9 15.7 7.3 8.1 4.7 12.4 14

 15 Corporate bonds (net) (3) 15.0 36.7 41.8 34.4 18.0 43.7 46.4 48.1 77.8 57.9 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) 0.0 0.0 0.0 0.0 0.0 0.3 0.5 -0.1 0.0 0.3 17

 18 REIT assets (5) 0.1 4.5 6.3 1.6 0.7 -0.0 -0.3 -0.7 -1.7 -3.6 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.127.

F.126 Finance Companies (1)

Billions of dollars

 1 Gross saving 2.7 3.8 8.7 9.8 12.8 14.6 16.2 17.8 20.2 22.0 1

 2 Fixed nonresidential investment 10.0 12.6 12.5 14.1 17.3 16.8 14.4 12.8 23.5 29.3 2

 3 Net acquisition of financial assets 54.2 60.7 46.5 49.4 49.0 27.5 23.9 -3.9 6.3 18.3 3

 4 Checkable deposits and currency 1.0 0.9 1.4 1.2 0.8 1.2 2.3 0.4 1.5 1.4 4

 5 Time and savings deposits 0.3 0.8 0.6 0.5 1.3 0.7 2.8 0.3 3.1 1.2 5

 6 Credit market instruments 50.7 56.7 38.4 45.0 55.4 27.5 7.7 2.4 -7.3 32.0 6

 7 Corporate and foreign bonds 3.7 5.1 5.7 4.8 6.1 5.4 14.8 1.9 13.6 7.6 7

 8 Other loans and advances 18.3 15.6 34.3 28.6 23.5 17.4 -4.3 1.1 -15.9 25.9 8

 9 Mortgages 8.0 17.5 -4.7 10.3 26.6 11.2 9.5 2.7 -3.1 -19.8 9

 10 Consumer credit 20.7 18.6 3.1 1.2 -0.7 -6.5 -12.2 -3.3 -1.9 18.3 10

 11 Miscellaneous assets 2.2 2.2 6.1 2.7 -8.5 -1.9 11.1 -7.0 8.9 -16.2 11

 12 Net increase in liabilities 55.5 61.5 41.7 41.2 42.7 27.9 30.9 3.9 10.8 40.3 12

 13 Credit market instruments 41.9 60.5 12.0 24.0 37.5 23.1 13.6 4.9 -1.3 37.2 13

 14 Open market paper 29.6 21.6 10.7 17.1 8.7 3.1 -8.6 -6.0 -0.1 22.5 14

 15 Corporate bonds 14.7 26.3 9.6 5.9 15.6 16.8 14.8 8.9 12.5 31.7 15

 16 Depository institution loans n.e.c. -2.5 12.6 -8.3 1.0 13.2 3.2 7.4 2.0 -13.7 -17.1 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 0.0 0.0 0.3 0.2 0.4 0.4 0.5 0.6 0.8 0.8 18

 19 Miscellaneous liabilities 13.7 1.0 29.4 17.1 4.9 4.4 16.8 -1.6 11.4 2.3 19

 20 Foreign direct investment in U.S. -0.5 2.1 -0.2 -0.5 7.2 -3.5 1.3 1.7 7.1 0.4 20

 21 Investment by parent 17.6 10.3 -11.5 -22.6 -1.5 1.4 -4.3 2.0 1.2 6.2 21

 22 Other -3.4 -11.5 41.1 40.2 -0.8 6.4 19.8 -5.3 3.1 -4.3 22

 23 Discrepancy -5.9 -8.0 -8.6 -12.4 -10.8 -1.8 8.7 12.8 1.3 14.6 23

 Memo:

 24 Consumer leases not included above (2) 2.7 2.8 2.3 2.9 2.8 6.6 7.4 5.5 10.2 18.2 24

(1) Includes retail captive finance companies and mortgage companies.

(2) See footnote (4), table F.125.
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Historical Annuals, 1985-1994, 33

F.127 Real Estate Investment Trusts (REITs) (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Gross saving -0.3 0.2 -0.0 0.0 -0.2 -0.1 -0.1 0.1 0.7 0.6 1

 2 Fixed nonresidential investment 0.4 0.6 0.7 0.9 0.9 1.0 0.9 1.1 1.2 1.3 2

 3 Multifamily residential investment 0.1 0.2 0.2 0.1 0.1 0.2 0.2 2.6 5.2 7.3 3

 4 Net acquisition of financial assets 2.8 4.6 8.4 5.1 2.2 -2.2 0.5 -0.9 1.9 1.1 4

 5 Checkable deposits and currency 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Credit market instruments 2.6 5.0 7.5 4.3 0.6 -1.8 -0.6 1.4 0.4 -0.7 6

 7 Agency- and GSE-backed securities 0.2 5.0 6.5 2.5 0.9 -1.1 0.1 -0.7 -0.3 -6.4 7

 8 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.0 0.2 1.0 8

 9 Mortgages 2.4 0.0 1.0 1.7 -0.3 -0.7 -0.7 1.1 0.6 4.7 9

 10 Home 0.1 -0.0 0.0 0.1 -0.0 -0.0 -0.1 0.8 1.1 2.8 10

 11 Multifamily residential 0.4 0.0 0.3 0.5 -0.1 -0.2 -0.1 0.0 -0.3 0.2 11

 12 Commercial 1.9 0.0 0.7 1.1 -0.2 -0.5 -0.5 0.3 -0.3 1.7 12

 13 Miscellaneous assets 0.2 -0.4 0.9 0.8 1.6 -0.4 1.1 -2.3 1.4 1.8 13

 14 Net increase in liabilities 4.7 7.6 9.8 8.0 2.5 1.1 4.2 4.0 16.9 29.0 14

 15 Security RPs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.9 2.1 4.7 15

 16 Credit market instruments 1.3 5.7 8.0 3.5 2.1 0.8 0.9 -0.4 1.7 10.2 16

 17 Open market paper 0.1 0.3 0.4 -0.1 -0.2 -0.2 -0.0 -0.0 -0.3 -0.6 17

 18 Corporate bonds 0.9 4.8 6.8 1.8 1.0 0.1 -0.1 0.3 -1.4 -1.6 18

 19 Depository institution loans n.e.c. 0.3 0.3 0.5 1.6 1.0 0.3 0.6 -1.3 -0.2 2.5 19

 20 Mortgages 0.1 0.3 0.3 0.3 0.3 0.6 0.5 0.6 3.6 9.8 20

 21 Corporate equity issues 3.2 1.8 1.4 2.2 1.8 1.3 1.6 2.0 13.2 11.1 21

 22 Miscellaneous liabilities 0.1 0.1 0.4 2.3 -1.4 -0.9 1.6 0.6 -0.1 2.9 22

 23 Discrepancy 1.1 2.6 0.6 2.1 -0.8 2.1 2.6 1.3 9.4 19.9 23

 Memo:

 24 Securitized assets included above 0.1 4.5 6.3 1.6 0.7 -0.0 -0.3 -0.7 -1.7 -3.6 24

 25 Agency- and GSE-backed securities 0.1 4.5 6.3 1.6 0.7 -0.0 -0.3 -1.3 -2.3 -5.0 25

 26 Home mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.6 0.6 1.4 26

 27 Multifamily residential mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

 28 Commercial mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

(1) Additional detail on financial assets and liabilities for equity and mortgage REITs is available on F.127.e and F.127.m.
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34 Historical Annuals, 1985-1994,

F.128 Security Brokers and Dealers

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Gross saving 3.4 3.1 5.6 4.9 5.1 8.3 6.0 7.2 8.0 7.0 1

 2 Fixed nonresidential investment 9.4 11.2 12.8 13.9 14.8 13.0 12.3 5.8 11.2 8.6 2

 3 Net acquisition of financial assets 37.6 28.6 -62.5 -2.0 100.7 25.6 70.4 49.2 97.0 -24.1 3

 4 Checkable deposits and currency 2.4 2.2 -1.4 1.9 0.4 0.5 -0.1 0.2 1.9 -0.3 4

 5 Credit market instruments 4.1 8.1 -35.0 -16.3 80.2 2.8 17.5 -1.3 14.8 -44.2 5

 6 Open market paper -2.8 -2.0 -1.5 0.6 3.0 0.6 -4.4 1.2 -0.3 -3.7 6

 7 Treasury securities -16.2 8.1 -25.7 -30.7 68.9 -14.2 -1.6 -13.3 -20.7 -14.4 7

 8 Agency- and GSE-backed securities 4.9 4.9 4.9 4.9 4.9 19.6 10.0 -1.0 7.8 -15.8 8

 9 Municipal securities 8.9 -3.3 -8.4 -0.8 -0.4 0.8 1.6 1.9 5.8 -1.7 9

 10 Corporate and foreign bonds 9.2 0.3 -4.4 9.8 3.7 -4.0 12.0 10.0 22.2 -8.7 10

 11 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Corporate equities 2.6 1.4 -7.1 0.1 -1.9 -3.3 2.4 -0.6 8.1 -3.4 12

 13 Security credit 18.9 6.7 -16.3 1.7 -1.0 -3.7 16.3 -1.6 22.6 -1.1 13

 14 Miscellaneous assets 9.7 10.3 -2.7 10.5 23.0 29.4 34.3 52.6 49.6 24.8 14

 15 Net increase in liabilities 35.3 27.2 -55.8 -4.9 96.9 31.4 64.2 44.8 108.2 -17.4 15

 16 Security RPs (net) -1.8 11.8 -49.8 -13.1 86.1 16.8 25.7 24.0 20.0 -23.0 16

 17 Credit market instruments 0.3 2.1 -0.1 4.3 6.3 1.5 3.7 2.7 12.0 0.5 17

 18 Corporate bonds 0.3 2.1 -0.1 4.3 6.3 1.5 3.7 2.7 12.0 0.5 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 2.5 2.2 6.3 -1.2 -3.0 3.4 -5.7 -1.9 1.3 4.7 20

 21 Trade payables 2.5 -0.4 -0.8 1.7 -0.5 -1.9 0.7 0.6 2.7 -0.9 21

 22 Security credit 24.5 3.2 -11.1 1.3 16.6 7.2 35.2 6.2 38.7 1.0 22

 23 Customer credit balances (HH) 13.5 9.0 -5.8 1.8 12.3 9.2 24.6 -10.8 26.0 6.7 23

 24 From U.S.-chartered depository institutions 6.8 -5.9 -3.2 -0.4 4.2 -5.4 2.2 3.1 4.1 -4.6 24

 25 From foreign banking offices in U.S. 4.2 0.1 -2.1 -0.1 0.1 3.4 8.4 13.9 8.6 -1.2 25

 26 Taxes payable 0.3 0.2 -0.6 0.1 0.1 0.1 0.2 0.0 0.5 -0.2 26

 27 Miscellaneous liabilities 6.9 7.0 1.1 1.8 -6.9 5.0 4.0 13.1 32.0 1.7 27

 28 Foreign direct investment in U.S. -0.3 0.6 2.1 0.9 1.4 0.1 2.0 0.0 16.5 0.9 28

 29 Investment by funding corporations 8.6 3.4 13.9 26.9 7.9 -13.0 4.9 16.5 25.2 16.7 29

 30 Other -1.4 2.9 -14.9 -26.0 -16.1 17.9 -2.9 -3.5 -9.7 -15.9 30

 31 Proprietors’ net investment 0.1 1.2 -0.8 0.1 -1.7 -0.7 0.5 0.1 0.9 -1.1 31

 32 Discrepancy -8.2 -9.5 -0.5 -12.0 -13.4 1.0 -12.5 -3.0 8.0 5.1 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).
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Historical Annuals, 1985-1994, 35

F.129 Holding Companies (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Gross saving 15.9 14.5 14.6 18.0 20.1 21.8 22.3 21.3 28.6 36.7 1

 2 Fixed nonresidential investment 15.3 15.0 15.3 16.2 17.4 16.6 15.3 16.6 15.5 15.4 2

 3 Net acquisition of financial assets 32.4 31.3 27.3 21.4 19.8 -13.6 3.2 34.7 44.3 31.2 3

 4 Time and savings deposits 0.3 0.2 -1.9 0.3 0.1 -14.4 -2.2 -0.9 -0.1 -0.4 4

 5 Federal funds and security RPs 0.0 0.0 0.0 0.0 0.0 0.4 1.0 -0.1 -0.5 0.2 5

 6 Credit market instruments 3.7 -0.3 2.0 -0.1 2.8 -2.8 -1.5 5.6 -0.0 0.9 6

 7 Treasury securities 0.3 -0.1 0.1 0.0 0.1 -0.2 0.3 5.1 -0.8 -0.7 7

 8 Agency- and GSE-backed securities 1.0 -0.4 0.3 0.0 0.3 -0.5 0.5 -0.2 0.9 1.7 8

 9 Corporate and foreign bonds 3.1 -1.3 1.0 0.1 0.8 -1.9 -0.5 0.3 1.7 -0.1 9

 10 Other loans and advances -0.7 1.5 0.5 -0.3 1.6 -0.2 -1.9 0.4 -1.8 -0.1 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 28.5 31.4 27.3 21.1 16.9 3.2 5.9 30.2 44.9 30.6 12

 13 Net trans. with depository institution subs. 15.1 18.0 23.2 23.0 10.4 17.3 14.6 36.8 30.1 15.5 13

 14 Net trans. with property-casualty ins. 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 trans. with life insurance company subs. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Net trans. with finance company subs. 12.8 8.3 -5.3 -19.6 -1.9 -4.1 -6.4 -0.0 6.4 4.0 16

 17 Net trans. with broker and dealer subs. 0.1 0.1 11.5 20.1 8.0 -18.5 -5.8 -2.6 8.0 0.7 17

 18 Net trans. with foreign subs. 0.5 -1.3 -3.5 -1.7 -1.8 -0.4 5.7 -5.8 2.3 7.8 18

 19 Other -0.1 6.3 1.3 -0.7 2.2 8.9 -2.2 1.8 -1.8 2.5 19

 20 Net increase in liabilities 23.8 24.7 21.4 12.9 10.2 -24.1 -7.2 25.9 28.9 8.2 20

 21 Federal funds and security RPs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 -0.1 0.0 21

 22 Credit market instruments 17.7 11.4 15.0 4.9 5.3 -30.6 -6.1 -0.1 9.6 13.5 22

 23 Commercial paper 2.2 -3.3 1.5 -0.2 4.4 -18.7 -5.8 -3.9 5.2 5.9 23

 24 Corporate bonds 14.4 13.9 12.8 5.4 1.9 -9.0 3.3 6.1 3.6 4.3 24

 25 Depository institution loans n.e.c. 1.1 0.7 0.7 -0.3 -0.9 -2.9 -3.6 -2.4 0.8 3.3 25

 26 Corporate equity issues 0.0 0.0 0.0 0.0 0.0 6.9 14.7 15.9 5.4 -5.1 26

 27 Miscellaneous liabilities 6.1 13.3 6.4 8.1 4.9 -0.4 -15.8 10.0 14.0 -0.3 27

 28 Equity, etc. 5.7 -2.0 5.2 7.3 0.6 3.3 4.4 22.2 21.6 -8.1 28

 29 Other 0.3 15.3 1.2 0.8 4.3 -3.7 -20.3 -12.2 -7.6 7.8 29

 30 Discrepancy -8.0 -7.1 -6.7 -6.7 -6.9 -5.3 -3.4 -4.1 -2.2 -1.7 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.
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36 Historical Annuals, 1985-1994,

F.130 Funding Corporations (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Net acquisition of financial assets 71.1 10.9 19.6 31.6 14.1 9.7 32.7 59.1 -2.4 17.7 1

 2 Money market fund shares 0.7 2.6 2.2 4.0 8.0 16.1 17.5 26.8 14.9 13.1 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 59.7 0.8 7.8 8.0 3.6 -10.0 5.1 9.2 -27.9 -11.0 4

 5 Open market paper 59.7 0.8 7.8 8.0 3.6 -10.0 5.1 9.2 -31.9 -21.0 5

 6 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4.0 10.0 6

 7 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 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 10.7 7.5 9.6 19.6 2.5 3.6 10.2 23.0 10.6 15.6 9

 10 Investment in foreign banking offices 2.2 4.2 7.2 12.8 2.6 -1.8 -0.5 3.9 -6.6 -0.5 10

 11 Investment in brokers and dealers 8.5 3.4 2.4 6.8 -0.2 5.4 10.7 19.2 17.2 16.1 11

 12 Net increase in liabilities 71.1 10.9 19.6 31.6 14.1 9.7 32.7 59.1 -2.4 17.7 12

 13 Credit market instruments 10.7 12.0 9.7 38.0 12.5 16.8 -4.0 16.2 6.3 23.1 13

 14 Open market paper 8.6 10.6 7.0 39.1 13.8 14.0 -10.9 4.5 -7.3 3.0 14

 15 Corporate bonds 2.1 1.4 2.7 -1.1 -1.3 2.9 6.9 11.7 13.6 20.0 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 60.4 -1.0 9.9 -6.4 1.6 -7.1 36.7 42.9 -8.7 -5.4 19

 20 Foreign direct investment in U.S. 0.0 -4.4 -0.1 -18.5 -10.0 -13.2 14.2 6.9 4.3 -7.5 20

 21 Securities loaned (net) 1.5 5.1 3.1 8.0 16.1 32.1 31.5 50.6 43.6 24.6 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) 58.9 -1.7 6.9 4.0 -4.4 -26.0 -9.0 -14.6 -56.6 -22.5 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.
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Historical Annuals, 1985-1994, 37

F.200 U.S. Official Reserve Assets and SDR Allocations (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Net change in liabilities 3.9 -0.3 -9.1 3.9 25.3 2.2 -5.8 -3.9 1.4 -5.3 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 3.9 -0.3 -9.1 3.9 25.3 2.2 -5.8 -3.9 1.4 -5.3 3

 4 SDR holdings 0.9 0.2 0.5 -0.1 0.5 0.2 0.2 -2.3 0.5 0.4 4

 5 Reserve position in IMF (net) -0.9 -1.5 -2.1 -1.0 -0.5 -0.7 0.4 2.7 0.0 -0.5 5

 6 Foreign currency holdings 3.9 0.9 -7.6 5.1 25.2 2.7 -6.3 -4.3 0.8 -5.3 6

 7 Net change in assets 3.9 -0.3 -9.1 3.9 25.3 2.2 -5.8 -3.9 1.4 -5.3 7

 8 Federal government 1.9 -0.7 -5.4 1.4 12.7 0.8 -2.6 -1.7 1.0 -2.7 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 0.9 0.2 0.5 -0.1 0.5 0.2 0.2 -2.3 0.5 0.4 10

 11 Reserve position in IMF (net) -0.9 -1.5 -2.1 -1.0 -0.5 -0.7 0.4 2.7 0.1 -0.5 11

 12 Foreign currency holdings 1.9 0.5 -3.8 2.5 12.6 1.3 -3.2 -2.1 0.4 -2.6 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 2.0 0.4 -3.8 2.5 12.6 1.3 -3.2 -2.2 0.4 -2.6 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 1.9 0.5 -3.8 2.5 12.6 1.3 -3.2 -2.1 0.4 -2.6 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 0.1 0.3 0.0 0.0 3.5 1.5 0.0 -2.0 0.0 0.0 1

 2 Asset: Monetary authority 0.1 0.3 0.0 0.0 3.5 1.5 0.0 -2.0 0.0 0.0 2

 Treasury currency:

 3 Liab: Federal government 0.4 0.5 0.5 0.5 0.6 1.0 0.0 0.2 0.4 0.7 3

 4 Asset: Monetary authority 0.6 0.5 0.6 0.6 0.8 0.8 0.6 0.4 0.6 0.9 4

 5 Discrepancy (seigniorage) -0.2 -0.0 -0.1 -0.1 -0.3 0.2 -0.6 -0.2 -0.2 -0.2 5

F.202 U.S. Deposits in Foreign Countries

Billions of dollars

 1 Total rest of the world liability 7.1 27.6 8.6 14.7 29.1 27.9 -26.5 -3.4 -18.5 52.9 1

 Held by:

 2 Household sector 0.8 0.8 -0.1 0.9 0.8 1.4 1.0 1.2 -1.1 3.1 2

 3 Nonfinancial corporate business 2.7 3.2 -2.9 5.3 -6.8 0.0 1.7 -0.6 -1.3 1.2 3

 4 Money market mutual funds -2.2 3.1 -0.6 7.9 -3.2 0.6 -5.3 -1.2 -10.3 5.7 4

 5 Discrepancy--unallocated assets 5.7 20.5 12.2 0.5 38.4 25.9 -24.0 -2.8 -5.8 42.9 5
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38 Historical Annuals, 1985-1994,

F.203 Net Interbank Transactions

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Net change in liabilities 25.8 24.0 41.6 4.4 -10.7 27.6 -3.0 42.7 54.9 105.5 1

 2 Monetary authority 8.1 19.6 -7.1 0.3 0.1 4.3 -8.2 0.9 3.7 1.3 2

 3 U.S.-chartered depository institutions 12.1 -3.7 33.4 -3.6 -18.0 15.4 8.2 10.5 32.8 84.4 3

 4 Foreign banking offices in U.S. 11.6 15.8 14.9 4.0 4.8 8.3 1.9 32.3 16.7 11.3 4

 5 Banks in U.S.-affiliated areas -0.4 0.1 0.8 0.6 0.4 0.1 0.8 0.5 0.3 -0.4 5

 6 Credit unions -5.7 -7.8 -0.4 3.3 2.1 -0.4 -5.6 -1.5 1.4 8.9 6

 7 Net change in assets 24.9 32.8 45.9 3.3 -10.8 30.3 -23.9 48.4 48.6 100.4 7

 8 Rest of the world 17.1 14.4 51.2 4.2 -9.0 25.2 -14.2 44.5 47.9 100.6 8

 9 Monetary authority -0.4 -1.2 1.8 -1.2 -1.8 0.8 -1.5 3.0 -2.9 -1.5 9

 10 U.S.-chartered depository institutions 7.4 19.0 -6.7 1.4 0.1 4.1 -8.0 1.2 3.3 1.3 10

 11 Foreign banking offices in U.S. 0.7 0.6 -0.4 -1.1 -0.0 0.2 -0.3 -0.3 0.3 -0.0 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 0.9 -8.8 -4.2 1.2 0.0 -2.6 20.9 -5.7 6.3 5.1 13

 Memo:

 Vault cash:

 14 Liab.: Monetary authority 1.3 0.1 -0.8 2.7 1.1 3.9 1.0 -1.7 0.8 5.5 14

 15 Asset: U.S.-chartered depository institutions 1.3 0.1 -0.8 2.7 1.1 3.9 1.0 -1.7 0.8 5.5 15

 Depository institution reserves:

 16 Liab.: Monetary authority 6.8 19.5 -6.3 -2.4 -1.0 0.3 -9.2 2.7 2.9 -4.2 16

 17 Asset: U.S.-chartered depository institutions 6.1 18.9 -5.9 -1.3 -1.0 0.2 -9.0 3.0 2.5 -4.1 17

 18 Foreign banking offices in U.S. 0.7 0.6 -0.4 -1.1 -0.0 0.2 -0.3 -0.3 0.3 -0.0 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 -0.4 -1.2 1.8 -1.2 -1.8 0.8 -1.5 3.0 -2.9 -1.5 20

 21 Asset: Monetary authority -0.4 -1.2 1.8 -1.2 -1.8 0.8 -1.5 3.0 -2.9 -1.5 21

 22 Federal Reserve float 0.1 0.3 -0.5 0.5 -0.2 1.1 -1.5 2.5 -2.3 -1.6 22

 23 Loans -0.5 -1.5 2.3 -1.6 -1.7 -0.3 0.0 0.5 -0.6 0.1 23

 Transactions with banks in foreign countries (net):

 24 Liab.: U.S.-chartered depository institutions (net) 8.5 -3.6 26.4 2.2 -7.7 16.7 -5.7 -6.5 19.3 74.4 24

 25 Due to foreign affiliates 10.3 -5.1 12.0 12.1 -9.7 14.9 7.4 -10.1 6.6 52.6 25

 26 - Due from foreign affiliates 1.8 -1.5 -14.4 9.9 -2.0 -1.8 13.1 -3.7 -12.8 -21.7 26

 27 Foreign banking offices in U.S. (net) 3.9 16.9 22.8 1.5 -3.2 8.1 -5.7 49.3 29.2 27.0 27

 28 Due to foreign affiliates 7.4 18.7 13.0 0.3 -13.2 7.9 5.4 3.7 -1.7 1.4 28

 29 - Due from foreign affiliates 3.5 1.8 -9.7 -1.2 -10.0 -0.2 11.1 -45.6 -30.9 -25.6 29

 30 Less: Deposits at foreign banks -4.7 -1.1 -2.0 -0.4 -1.9 -0.5 2.8 -1.7 0.7 0.8 30

 31 U.S.-chartered depository institutions -2.0 -1.0 -1.9 -0.2 -2.3 -0.7 2.9 -1.7 0.7 -0.4 31

 32 Foreign banking offices in U.S. -2.7 -0.1 -0.2 -0.2 0.4 0.3 -0.1 -0.0 0.0 1.3 32

 33 Asset: Rest of the world (1) 17.1 14.4 51.2 4.2 -9.0 25.2 -14.2 44.5 47.9 100.6 33

 Transactions between U.S. depository institutions (net) (2):

 34 U.S.-chartered depository institutions (net) 2.0 0.1 3.3 -4.9 -10.8 -2.8 18.2 12.3 17.1 11.1 34

 35 Due to (3): 8.3 6.2 4.5 4.4 5.4 2.9 10.1 -9.5 6.6 4.6 35

 36 Foreign banking offices in U.S. 1.3 7.3 9.1 7.0 7.9 5.2 -15.6 -4.8 2.0 8.0 36

 37 Banks in U.S.-affiliated areas 0.4 -0.1 -0.8 -0.6 -0.4 -0.1 -0.8 -0.5 -0.3 0.4 37

 38 Credit unions 5.7 7.8 0.4 -3.3 -2.1 0.4 5.6 1.5 -1.4 -8.9 38

 39 - Due from: Foreign banking offices in U.S. 6.3 6.1 1.2 9.2 16.3 5.7 -8.1 -21.8 -10.5 -6.5 39

 40 Unallocated (2) 0.9 -8.8 -4.2 1.2 0.0 -2.6 20.9 -5.7 6.3 5.1 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.
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Historical Annuals, 1985-1994, 39

F.204 Checkable Deposits and Currency

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Net change in liabilities 83.8 125.4 4.0 42.3 7.0 42.6 87.8 112.1 117.3 -11.8 1

 2 Monetary authority 16.6 13.3 16.7 17.6 10.2 24.2 30.7 16.2 37.2 25.8 2

 3 Federal government cash and deposits 4.1 -1.9 -2.3 3.3 -2.4 2.8 8.8 -10.3 7.2 -7.7 3

 4 Due to government-sponsored enterprises 0.0 0.9 0.1 -0.5 0.7 -1.1 1.5 -1.4 0.0 0.5 4

 5 Deposits due to foreign 0.1 -0.1 -0.1 0.1 0.2 -0.2 0.6 -0.7 0.2 -0.1 5

 6 Currency outside banks 12.4 14.4 19.0 14.8 11.7 22.6 19.8 28.7 29.8 33.1 6

 7 U.S.-chartered depository institutions 61.6 110.3 -13.8 22.6 -4.7 17.3 54.9 91.4 78.1 -40.1 7

 8 Federal government deposits 10.3 1.7 -5.8 7.3 -3.4 5.3 5.5 -5.9 12.1 -18.9 8

 9 Deposits due to foreign 0.0 2.7 -1.4 -0.6 0.1 -0.4 -2.2 1.7 -0.3 1.6 9

 10 Private domestic deposits 51.4 106.0 -6.5 15.8 -1.4 12.3 51.6 95.6 66.3 -22.8 10

 11 Foreign banking offices in U.S. 2.1 0.9 -0.6 1.0 -0.3 0.4 0.2 -0.6 0.0 0.4 11

 12 Deposits due to foreign 1.3 0.1 0.2 -0.0 -0.1 0.3 0.2 0.5 -0.1 0.4 12

 13 Private domestic deposits 0.8 0.8 -0.8 1.0 -0.1 0.1 -0.0 -1.1 0.2 0.0 13

 14 Banks in U.S.-affiliated areas 0.3 0.4 -0.0 0.3 0.5 -0.7 -0.2 0.6 0.3 0.1 14

 15 Credit unions 3.1 0.4 1.7 0.8 1.3 1.5 2.2 4.5 1.7 2.0 15

 16 Net change in assets 83.8 125.4 4.0 42.3 7.0 42.6 87.8 112.1 117.3 -11.8 16

 17 Household sector 17.8 117.1 -0.7 -0.3 1.7 -11.4 54.2 111.4 51.0 -31.1 17

 18 Nonfinancial business 37.5 4.1 10.4 18.6 10.3 8.4 9.1 1.2 23.8 24.2 18

 19 Corporate 23.2 1.5 9.6 14.0 9.1 6.1 6.9 -4.2 20.6 11.8 19

 20 Noncorporate 14.2 2.6 0.9 4.6 1.2 2.2 2.1 5.4 3.2 12.3 20

 21 State and local governments 1.1 2.5 -0.7 3.0 0.4 -1.3 6.5 1.2 2.0 1.8 21

 22 Federal government 13.0 0.4 -8.1 9.0 -14.2 4.8 27.4 -16.9 20.7 -21.7 22

 23 Rest of the world 4.8 5.1 2.5 3.6 3.9 16.3 11.4 12.6 16.4 22.4 23

 24 Checkable deposits 1.5 2.7 -1.4 -0.5 0.2 -0.3 -1.4 1.5 -0.3 1.8 24

 25 Currency 3.3 2.4 3.9 4.1 3.7 16.6 12.8 11.1 16.6 20.6 25

 26 Financial sectors 7.5 5.8 0.2 6.0 -1.2 14.0 -12.2 0.4 6.1 0.3 26

 27 Property-casualty insurance companies 1.2 1.3 -0.1 -0.1 0.6 0.5 -1.1 0.2 -0.4 -0.2 27

 28 Life insurance companies 0.5 0.7 -0.9 -0.3 0.5 -0.1 0.5 -0.6 0.4 0.4 28

 29 Private pension funds -0.0 -1.4 -0.2 2.9 -0.4 -0.8 -0.3 -0.0 0.2 0.9 29

 30 State and local govt. retirement funds 0.4 0.7 1.8 -0.4 -1.2 1.8 -1.2 2.7 0.1 0.1 30

 31 Money market mutual funds 1.4 -0.2 -0.3 1.0 -0.6 11.1 -11.5 -2.4 1.4 -1.3 31

 32 Government-sponsored enterprises 0.8 1.5 -0.1 -0.0 -1.3 -0.2 -0.9 -0.0 0.9 -0.8 32

 33 Finance companies 1.0 0.9 1.4 1.2 0.8 1.2 2.3 0.4 1.5 1.4 33

 34 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 34

 35 Brokers and dealers 2.4 2.2 -1.4 1.9 0.4 0.5 -0.1 0.2 1.9 -0.3 35

 36 Mail float 2.1 -9.5 0.4 2.5 6.2 11.8 -8.6 2.2 -2.8 -7.6 36
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40 Historical Annuals, 1985-1994,

F.205 Time and Savings Deposits

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Net change in liabilities 157.5 133.6 126.4 175.9 115.8 -2.2 -56.9 -130.4 -93.9 -17.8 1

 2 Small time and savings deposits 140.4 130.0 76.6 122.7 98.9 63.9 1.6 -57.2 -70.4 -37.4 2

 3 U.S.-chartered depository institutions 119.5 101.1 64.8 110.6 90.5 48.4 -14.8 -73.4 -79.1 -42.5 3

 4 Foreign banking offices in U.S. 1.1 2.2 0.6 0.5 3.7 -1.0 -0.1 0.2 -0.8 -1.1 4

 5 Banks in U.S.-affiliated areas 0.3 0.5 -0.1 0.3 0.5 2.1 -1.0 0.4 -0.2 0.8 5

 6 Credit unions 19.4 26.1 11.4 11.3 4.2 14.4 17.5 15.5 9.8 5.5 6

 7 Large time deposits (1) 17.1 3.6 49.8 53.2 16.9 -66.1 -58.5 -73.2 -23.5 19.6 7

 8 U.S.-chartered depository institutions 16.6 -5.1 45.8 46.2 8.8 -62.3 -108.4 -84.1 -23.6 15.8 8

 9 Foreign banking offices in U.S. -0.2 7.6 3.8 6.3 4.4 -3.7 50.1 9.0 -0.8 2.6 9

 10 Banks in U.S.-affiliated areas 0.3 0.5 -0.1 0.3 0.5 2.1 -1.0 0.4 -0.2 0.8 10

 11 Credit unions 0.3 0.7 0.3 0.4 3.1 -2.1 0.8 1.6 1.1 0.4 11

 12 Net change in assets 157.5 133.6 126.4 175.9 115.8 -2.2 -56.9 -130.4 -93.9 -17.8 12

 13 Household sector 137.7 104.8 122.1 158.9 74.2 45.2 -71.3 -104.7 -114.7 -36.9 13

 14 Nonfinancial business 5.7 17.9 -1.5 2.9 -0.3 -3.4 5.2 5.4 19.4 8.0 14

 15 Corporate 0.2 16.2 0.4 -3.7 -1.7 -6.0 3.0 -1.6 16.0 4.4 15

 16 Noncorporate 5.5 1.7 -1.9 6.6 1.4 2.7 2.2 7.0 3.4 3.6 16

 17 State and local governments 7.0 2.4 7.1 -2.0 -2.8 -3.0 -11.1 -6.1 -1.5 6.5 17

 18 Federal government 0.0 0.2 0.2 -0.2 -0.1 0.1 0.1 -0.7 -0.1 -0.1 18

 19 Rest of the world 3.2 -2.5 0.9 3.4 4.7 -0.7 -0.2 -4.1 6.8 1.5 19

 20 Financial sectors 3.9 10.8 -2.3 12.9 40.1 -40.4 20.4 -20.2 -3.8 3.2 20

 21 Private pension funds 8.6 10.4 -10.8 10.9 27.5 -4.2 5.5 -17.1 -3.4 6.7 21

 22 State and local govt. retirement funds 1.4 -3.4 -4.7 1.9 1.9 -1.4 1.1 -1.9 -0.7 -3.7 22

 23 Money market mutual funds -6.7 2.7 14.5 -0.8 9.3 -21.1 13.2 -0.5 -2.8 -0.5 23

 24 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 Finance companies 0.3 0.8 0.6 0.5 1.3 0.7 2.8 0.3 3.1 1.2 25

 26 Holding companies 0.3 0.2 -1.9 0.3 0.1 -14.4 -2.2 -0.9 -0.1 -0.4 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 10.2 48.2 23.2 21.2 89.7 68.6 41.6 4.5 20.2 40.5 1

 2 Net purchases 10.2 48.2 23.2 21.2 89.7 68.6 41.6 4.5 20.2 40.5 2

 3 Household sector 3.3 41.9 20.8 17.0 78.1 38.3 18.3 -42.2 -2.1 9.6 3

 4 Nonfinancial corporate business -1.5 0.4 0.9 -5.5 0.0 9.3 4.5 13.5 -3.7 3.2 4

 5 Nonfinancial noncorporate business 0.0 0.1 -0.1 2.2 0.5 0.9 0.7 2.3 1.1 4.2 5

 6 State and local governments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.8 4.1 6

 7 Rest of the world 0.0 0.0 0.0 0.0 0.4 0.8 0.8 0.8 0.8 0.8 7

 8 Property-casualty insurance companies 2.0 0.0 0.3 1.2 -0.0 1.1 -1.4 2.0 -0.3 -0.8 8

 9 Life insurance companies 2.1 0.9 -3.1 0.1 -0.8 2.2 0.1 0.1 0.1 0.1 9

 10 Private pension funds 2.1 1.9 1.8 2.0 2.9 -0.0 1.0 1.0 6.5 5.3 10

 11 State and local govt. retirement funds 1.4 0.3 0.3 0.3 0.5 0.0 0.2 0.2 1.0 0.8 11

 12 Funding corporations 0.7 2.6 2.2 4.0 8.0 16.1 17.5 26.8 14.9 13.1 12
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Historical Annuals, 1985-1994, 41

F.207 Federal Funds and Security Repurchase Agreements

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Net change in liabilities 24.0 48.6 -9.5 22.0 73.5 -25.5 -13.7 38.5 67.3 72.5 1

 2 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Private depository institutions (net) 25.8 36.8 40.3 35.1 -12.6 -42.3 -39.5 12.6 45.3 90.8 3

 4 U.S.-chartered depository institutions (net) 25.0 30.9 40.4 30.8 -11.8 -48.6 -49.6 12.3 44.5 81.8 4

 5 Foreign banking offices in U.S. (net) 4.5 8.4 -1.7 4.5 2.3 8.4 8.8 0.7 -4.3 6.7 5

 6 Credit unions (net) -3.7 -2.5 1.6 -0.1 -3.1 -2.1 1.4 -0.4 5.1 2.3 6

 7 Property-casualty insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.9 2.1 4.7 9

 10 Brokers and dealers (net) -1.8 11.8 -49.8 -13.1 86.1 16.8 25.7 24.0 20.0 -23.0 10

 11 Holding companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 -0.1 0.0 11

 12 Net change in assets 44.6 35.6 9.6 13.8 61.9 31.7 29.9 34.7 27.3 13.6 12

 13 Nonfinancial corporate business -0.5 1.7 -1.7 1.6 -2.2 -0.6 -0.5 3.4 -2.6 -0.3 13

 14 State and local governments 21.0 4.8 11.9 -1.0 16.1 5.7 6.7 4.6 10.7 -15.1 14

 15 Rest of the world (net) 0.8 3.4 2.2 -0.1 10.1 -3.4 1.2 20.9 16.9 -12.0 15

 16 Monetary authority 3.2 10.8 -11.0 1.9 -4.7 16.2 -2.5 -7.8 5.1 -2.6 16

 17 Property-casualty insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 Private pension funds 8.3 1.7 -0.4 2.3 2.1 -1.3 3.7 0.2 0.9 -6.2 19

 20 State and local govt. retirement funds 2.5 3.3 3.0 -1.1 -0.5 2.5 6.6 5.8 -4.2 7.4 20

 21 Money market mutual funds 3.3 6.0 7.0 2.3 13.1 3.9 8.8 -1.0 0.4 2.4 21

 22 Mutual funds 0.1 1.5 0.8 1.3 -0.2 1.4 6.1 9.7 16.8 4.4 22

 23 Government-sponsored enterprises (net) 6.0 2.5 -2.2 6.6 28.0 6.9 -1.1 -1.0 -16.2 35.4 23

 24 Holding companies 0.0 0.0 0.0 0.0 0.0 0.4 1.0 -0.1 -0.5 0.2 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 -20.6 13.0 -19.1 8.2 11.6 -57.2 -43.7 3.9 40.0 58.9 26
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42 Historical Annuals, 1985-1994,

F.208 Open Market Paper

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total net issues, all types 52.8 26.4 32.3 75.4 65.9 30.7 -44.0 13.1 -5.1 35.7 1

 2 Commercial paper 62.2 32.2 26.8 78.2 70.1 36.0 -29.7 17.0 2.5 38.6 2

 3 Nonfinancial corporate business 14.6 -9.3 1.6 11.9 21.4 9.7 -18.4 8.6 10.0 21.4 3

 4 Foreign issues in U.S. 6.2 11.5 3.8 8.7 13.1 12.3 6.8 5.6 -9.6 -26.1 4

 5 Nonfinancial 1.5 2.2 2.4 -0.6 4.3 4.3 5.5 4.5 -3.1 -12.3 5

 6 Financial 4.7 9.3 1.4 9.3 8.7 8.1 1.2 1.1 -6.5 -13.9 6

 7 Financial sectors 41.4 30.1 21.3 57.6 35.6 13.9 -18.1 2.8 2.1 43.3 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 0.9 0.9 1.8 1.7 8.9 15.7 7.3 8.1 4.7 12.4 9

 10 Finance companies 29.6 21.6 10.7 17.1 8.7 3.1 -8.6 -6.0 -0.1 22.5 10

 11 REITs 0.1 0.3 0.4 -0.1 -0.2 -0.2 -0.0 -0.0 -0.3 -0.6 11

 12 Holding companies 2.2 -3.3 1.5 -0.2 4.4 -18.7 -5.8 -3.9 5.2 5.9 12

 13 Funding corporations 8.6 10.6 7.0 39.1 13.8 14.0 -10.9 4.5 -7.3 3.0 13

 14 Bankers’ acceptances (1) -9.4 -5.9 5.6 -2.7 -4.2 -5.3 -14.3 -3.9 -7.7 -2.9 14

 15 U.S.-chartered depository institutions -10.9 -8.7 -1.0 -3.3 -5.3 -4.4 -4.7 -0.1 -2.5 -0.3 15

 16 Foreign banking offices in U.S. 1.5 2.8 6.6 0.5 1.0 -0.9 -9.6 -3.8 -5.1 -2.6 16

 17 Net purchases, by sector 52.8 26.4 32.3 75.4 65.9 30.7 -44.0 13.1 -5.1 35.7 17

 18 Household sector -9.2 -0.3 -0.8 38.2 -5.7 5.8 -35.2 -5.8 12.4 4.7 18

 19 Nonfinancial corporate business 0.7 -0.3 4.8 -1.3 0.6 -0.5 0.9 2.3 2.4 -0.6 19

 20 State and local governments 0.0 0.0 0.2 0.5 0.9 2.4 5.0 5.2 3.7 4.4 20

 21 Rest of the world -0.2 -0.1 1.0 2.8 2.4 -2.0 0.6 1.6 5.9 6.0 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) -3.4 0.8 0.4 0.2 -1.3 0.8 -0.4 -2.3 -1.3 -1.5 23

 24 Foreign banking offices in U.S. (1) 0.3 -0.2 1.2 -0.5 0.4 2.0 -1.0 0.2 -0.9 -0.2 24

 25 Credit unions 0.1 0.6 -0.3 0.4 0.3 1.2 0.3 0.4 -0.7 -0.1 25

 26 Property-casualty insurance companies 2.9 0.1 0.4 1.6 -0.0 1.6 -2.0 2.8 -0.4 -1.1 26

 27 Life insurance companies -0.2 5.4 -0.4 5.1 3.6 2.9 0.0 -2.5 3.6 5.9 27

 28 Private pension funds 2.4 4.3 7.2 -6.1 -0.7 -0.4 3.3 -0.2 0.7 -6.2 28

 29 State and local govt. retirement funds 2.5 3.3 3.0 -1.1 -0.5 2.5 6.6 5.8 -4.2 7.4 29

 30 Money market mutual funds 1.1 6.1 5.7 17.4 57.0 19.5 -13.4 -17.0 -9.1 22.7 30

 31 Mutual funds -0.5 7.9 3.6 9.1 -0.6 3.7 -16.3 9.7 16.8 4.4 31

 32 Government-sponsored enterprises -0.6 -0.0 -0.0 0.4 2.9 0.5 7.1 2.7 -1.7 14.4 32

 33 Brokers and dealers -2.8 -2.0 -1.5 0.6 3.0 0.6 -4.4 1.2 -0.3 -3.7 33

 34 Funding corporations 59.7 0.8 7.8 8.0 3.6 -10.0 5.1 9.2 -31.9 -21.0 34

(1) Excludes banks’ holdings of own acceptances.
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Historical Annuals, 1985-1994, 43

F.209 Treasury Securities

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Net issues 225.8 215.6 142.4 137.7 144.7 238.7 292.0 303.8 248.3 155.7 1

 2 Savings bonds 5.3 13.6 7.8 8.5 8.2 8.5 11.9 19.1 14.7 8.0 2

 3 Treasury bills 25.5 26.8 -37.2 24.5 16.7 96.8 63.0 67.3 57.0 19.1 3

 4 Other Treasury securities 195.0 175.3 171.8 104.8 119.9 133.5 217.1 217.3 176.7 128.6 4

 5 Net purchases 225.8 215.6 142.4 137.7 144.7 238.7 292.0 303.8 248.3 155.7 5

 6 Household sector 11.6 -2.4 33.5 78.5 41.8 96.7 25.1 83.3 49.4 169.8 6

 7 Savings bonds 5.3 13.6 7.8 8.5 8.2 8.5 11.9 19.1 14.7 8.0 7

 8 Bills and other Treasury securities 6.4 -15.9 25.7 70.1 33.7 88.3 13.2 64.2 34.8 161.8 8

 9 Nonfinancial corporate business 4.6 -0.8 -8.5 -3.9 23.5 -13.8 5.8 17.2 -11.8 2.0 9

 10 Nonfinancial noncorporate business 0.3 2.0 -1.0 0.5 1.6 0.6 -0.3 0.7 0.6 4.7 10

 11 State and local governments 92.7 57.1 41.9 6.6 4.8 41.5 25.0 -17.4 29.6 -77.8 11

 12 Rest of the world 19.6 38.2 35.6 62.0 29.8 27.0 33.7 55.6 73.3 65.0 12

 13 Treasury bills -7.2 21.3 11.3 13.3 -24.0 5.7 13.9 16.9 49.1 -13.8 13

 14 Other Treasury securities 26.8 16.9 24.3 48.7 53.7 21.3 19.7 38.7 24.2 78.8 14

 15 Monetary authority 18.6 19.8 21.3 14.8 -6.9 8.3 31.4 28.5 37.0 32.5 15

 16 Treasury bills 14.4 18.4 3.9 5.1 -8.2 7.9 20.1 9.2 18.6 17.0 16

 17 Other Treasury securities 4.2 1.5 17.4 9.7 1.3 0.4 11.3 19.4 18.4 15.5 17

 18 U.S.-chartered depository institutions 2.3 9.4 6.5 -19.6 -28.3 0.8 49.4 55.6 14.9 -28.1 18

 19 Foreign banking offices in U.S. -0.0 2.1 -0.4 0.1 -0.2 5.0 9.4 8.7 6.5 -3.5 19

 20 Banks in U.S.-affiliated areas 0.1 0.5 0.0 0.2 0.4 0.3 0.3 1.5 1.5 -0.6 20

 21 Credit unions 2.4 1.8 3.2 3.3 -2.3 -3.6 5.5 5.9 2.6 -0.5 21

 22 Property-casualty insurance companies 5.8 12.7 8.6 9.4 10.8 8.3 23.3 3.5 14.1 9.0 22

 23 Treasury bills 0.9 0.0 0.1 0.5 -0.0 0.5 -0.6 0.8 -0.1 -0.3 23

 24 Other Treasury securities 4.9 12.7 8.4 8.9 10.8 7.8 23.9 2.6 14.2 9.4 24

 25 Life insurance companies 10.5 7.3 -2.0 1.4 -5.7 6.3 18.6 10.2 20.1 -2.9 25

 26 Treasury bills 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

 27 Other Treasury securities 10.5 7.3 -2.0 1.4 -5.7 6.3 18.6 10.2 20.1 -2.9 27

 28 Private pension funds 20.2 -15.7 0.2 -0.3 9.7 -0.1 -5.3 -8.5 -4.4 16.8 28

 29 State and local govt. retirement funds 17.5 29.9 23.5 11.8 1.7 15.8 -2.7 38.0 13.9 -1.9 29

 30 Federal government retirement funds 0.0 0.0 1.1 1.6 2.1 2.5 2.5 2.8 2.8 3.5 30

 31 Money market mutual funds -0.8 3.4 -13.7 -2.7 3.2 30.2 33.4 0.2 1.0 -13.3 31

 32 Treasury bills 0.2 0.0 -15.5 0.2 2.2 18.1 22.2 -0.4 5.9 -8.6 32

 33 Other Treasury securities -1.0 3.4 1.8 -2.9 1.0 12.1 11.2 0.5 -4.9 -4.7 33

 34 Mutual funds 32.2 32.4 12.8 -3.8 1.2 5.7 16.8 6.5 23.6 -3.5 34

 35 Closed-end funds 0.1 0.4 0.6 3.2 1.8 0.2 3.1 1.7 2.1 -1.0 35

 36 Exchange-traded funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 36

 37 Government-sponsored enterprises 4.1 9.5 4.7 5.3 -13.3 21.3 18.2 17.9 -7.1 0.3 37

 38 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 38

 39 Brokers and dealers -16.2 8.1 -25.7 -30.7 68.9 -14.2 -1.6 -13.3 -20.7 -14.4 39

 40 Holding companies 0.3 -0.1 0.1 0.0 0.1 -0.2 0.3 5.1 -0.8 -0.7 40

 Memo:

 41 Federal government borrowing (1) 225.7 216.0 143.9 155.1 146.4 246.9 278.2 304.0 256.1 155.9 41

(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).
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44 Historical Annuals, 1985-1994,

F.210 Agency- and GSE-Backed Securities (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Net issues 99.4 179.9 169.5 138.2 151.1 175.6 132.0 156.5 173.1 292.3 1

 2 Budget agencies -0.0 0.4 1.5 17.4 1.6 8.2 -13.8 0.2 7.8 0.2 2

 3 Government-sponsored enterprises 20.6 15.2 30.2 44.9 25.2 17.1 9.2 40.7 80.6 176.9 3

 4 Agency- and GSE-backed mortgage pools 78.9 164.3 137.8 75.9 124.3 150.3 136.6 115.6 84.7 115.3 4

 5 Net purchases 99.4 179.9 169.5 138.2 151.1 175.6 132.0 156.5 173.1 292.3 5

 6 Household sector -7.7 1.7 7.1 19.6 21.2 35.3 6.4 1.7 -56.8 110.3 6

 7 Nonfinancial corporate business -1.3 -1.7 0.3 3.4 3.1 -5.9 1.8 3.5 10.5 0.8 7

 8 State and local governments 30.5 -1.4 5.2 22.8 30.9 -11.6 11.7 12.2 0.1 11.6 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 4.3 7.0 5.0 6.7 15.1 6.3 10.2 18.3 35.4 21.7 10

 11 Monetary authority -0.2 -0.4 -0.3 0.0 -1.0 -0.2 -0.3 -0.6 -0.8 -1.0 11

 12 U.S.-chartered depository institutions -2.3 82.8 71.5 49.2 5.9 29.6 5.7 36.9 40.4 14.4 12

 13 Foreign banking offices in U.S. 0.5 1.5 1.2 1.1 0.3 1.9 4.0 2.9 7.4 1.5 13

 14 Banks in U.S.-affiliated areas 0.0 0.0 0.0 0.4 0.4 0.1 0.1 1.1 0.2 0.5 14

 15 Credit unions 1.1 1.8 0.0 -1.7 -0.9 8.2 5.2 9.1 7.7 4.5 15

 16 Property-casualty insurance companies 7.8 -0.6 0.1 0.2 3.4 5.9 9.7 -0.3 1.3 1.6 16

 17 Life insurance companies 12.5 10.6 7.0 8.6 25.0 20.3 42.4 27.7 27.6 11.3 17

 18 Private pension funds 22.5 -8.0 13.1 14.4 23.8 22.6 12.9 10.5 14.2 40.9 18

 19 State and local govt. retirement funds -5.2 0.0 4.8 -7.6 15.9 11.6 -4.8 -18.3 -4.0 4.1 19

 20 Federal government retirement funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.2 0.1 20

 21 Money market mutual funds 1.1 -3.0 11.7 -8.6 2.7 15.6 4.2 13.6 13.5 9.4 21

 22 Mutual funds 20.7 37.3 2.8 -3.4 1.6 8.1 24.1 50.3 25.7 -6.9 22

 23 Government-sponsored enterprises 0.1 -0.6 -0.1 0.2 5.9 5.6 11.1 12.7 18.6 64.8 23

 24 ABS issuers 9.0 43.4 28.2 25.4 -8.0 4.1 -23.0 -23.0 23.6 23.2 24

 25 REITs 0.2 5.0 6.5 2.5 0.9 -1.1 0.1 -0.7 -0.3 -6.4 25

 26 Brokers and dealers 4.9 4.9 4.9 4.9 4.9 19.6 10.0 -1.0 7.8 -15.8 26

 27 Holding companies 1.0 -0.4 0.3 0.0 0.3 -0.5 0.5 -0.2 0.9 1.7 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 41.
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Historical Annuals, 1985-1994, 45

F.211 Municipal Securities and Loans

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Net change in liabilities 208.2 59.9 91.6 55.4 49.8 48.8 93.5 23.3 66.3 -35.9 1

 2 State and local governments 155.4 72.8 92.8 53.7 47.6 46.2 90.8 16.6 58.7 -45.9 2

 3 Short-term (1) 2.2 -0.1 -0.8 2.0 3.3 2.9 6.9 -1.1 1.8 -2.2 3

 4 Long-term 153.2 72.9 93.6 51.7 44.3 43.2 83.9 17.7 56.9 -43.8 4

 5 Nonprofit organizations (2) 30.2 -3.0 -0.3 1.5 3.2 3.0 3.8 2.4 1.1 3.2 5

 Nonfinancial corporate business

 6 (industrial revenue bonds) 22.6 -9.9 -0.9 0.2 -0.9 -0.3 -1.2 4.3 6.6 6.8 6

 7 Net change in assets 208.2 59.9 91.6 55.4 49.8 48.8 93.5 23.3 66.3 -35.9 7

 8 Household sector 103.6 15.2 105.6 56.8 27.9 34.7 54.7 -28.3 -29.8 -46.5 8

 9 Nonfinancial corporate business 3.1 -0.5 -5.7 -2.6 15.6 -7.7 20.1 1.0 8.9 2.0 9

 10 Nonfinancial noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.5 0.1 10

 11 State and local governments 0.6 0.8 -0.2 0.1 0.5 0.8 0.0 -1.1 -1.0 -0.9 11

 12 Rest of the world 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 12

 13 U.S.-chartered depository institutions 57.9 -28.7 -29.1 -22.5 -17.9 -16.0 -14.7 -6.0 2.0 -2.1 13

 14 Foreign banking offices in U.S. -0.1 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 0.0 0.0 0.0 0.1 -0.0 0.0 -0.1 -0.0 -0.2 0.4 15

 16 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Property-casualty insurance companies 3.8 13.3 23.0 8.9 0.1 1.8 -10.7 6.3 10.4 7.4 17

 18 Life insurance companies 1.0 2.0 -1.0 -1.6 -0.1 3.3 -2.1 1.1 3.2 -1.9 18

 19 State and local govt. retirement funds -0.4 -0.4 0.1 -0.3 -0.3 0.2 0.1 -0.2 0.9 -0.3 19

 20 Money market mutual funds 12.5 27.6 -2.3 4.3 4.0 13.9 6.6 5.4 9.6 7.8 20

 21 Mutual funds 15.8 32.1 7.9 8.1 15.7 13.9 27.2 28.7 42.9 -4.3 21

 22 Closed-end funds 1.0 1.1 1.3 4.2 4.6 2.0 11.3 14.3 12.1 1.6 22

 23 Exchange-traded funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 Government-sponsored enterprises 0.4 0.7 0.2 0.5 -0.0 0.8 -0.7 0.2 -0.1 2.0 24

 25 Brokers and dealers 8.9 -3.3 -8.4 -0.8 -0.4 0.8 1.6 1.9 5.8 -1.7 25

(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).
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46 Historical Annuals, 1985-1994,

F.212 Corporate and Foreign Bonds

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Net issues 143.4 222.5 164.7 162.2 119.5 123.0 165.7 167.4 386.5 221.0 1

 2 Nonfinancial corporate business 83.2 127.1 78.8 103.1 73.8 47.1 78.8 67.6 183.4 90.6 2

 3 Rest of the world (1) 3.8 3.1 7.4 6.9 4.9 21.4 15.0 16.8 82.9 14.9 3

 4 Financial sectors 56.5 92.3 78.6 52.2 40.8 54.5 72.0 83.0 120.2 115.5 4

 5 U.S.-chartered depository institutions 9.1 7.1 5.0 1.6 -0.6 -1.4 -3.2 5.2 2.1 2.6 5

 6 ABS issuers (net) (2) 15.0 36.7 41.8 34.4 18.0 43.7 46.4 48.1 77.8 57.9 6

 7 Finance companies 14.7 26.3 9.6 5.9 15.6 16.8 14.8 8.9 12.5 31.7 7

 8 REITs 0.9 4.8 6.8 1.8 1.0 0.1 -0.1 0.3 -1.4 -1.6 8

 9 Brokers and dealers 0.3 2.1 -0.1 4.3 6.3 1.5 3.7 2.7 12.0 0.5 9

 10 Holding companies 14.4 13.9 12.8 5.4 1.9 -9.0 3.3 6.1 3.6 4.3 10

 11 Funding corporations 2.1 1.4 2.7 -1.1 -1.3 2.9 6.9 11.7 13.6 20.0 11

 12 Net purchases (3) 143.4 222.5 164.7 162.2 119.5 123.0 165.7 167.4 386.5 221.0 12

 13 Household sector 46.5 31.9 32.0 -11.8 5.3 47.1 28.8 -2.2 114.1 94.2 13

 14 State and local governments 3.0 2.0 2.0 1.0 2.0 1.0 2.0 2.9 5.6 5.4 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 (4) 36.1 38.9 18.6 14.7 13.1 5.8 18.2 16.6 30.2 37.8 16

 17 MBS and other ABS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Other 36.1 38.9 18.6 14.7 13.1 5.8 18.2 16.6 30.2 37.8 18

 19 U.S.-chartered depository institutions 5.4 25.6 29.2 28.6 -12.0 -11.8 1.4 4.2 9.2 -3.0 19

 20 MBS and other ABS -0.0 3.3 0.1 4.9 4.5 1.4 0.8 -7.0 2.9 -0.5 20

 21 Other 5.4 22.3 29.1 23.6 -16.5 -13.2 0.6 11.2 6.3 -2.5 21

 22 Foreign banking offices in U.S. 3.5 5.0 3.0 -0.7 1.1 2.9 3.7 1.0 1.4 5.1 22

 23 Banks in U.S.-affiliated areas 0.4 0.1 0.0 -0.9 0.0 -0.0 0.1 0.2 0.2 -0.1 23

 24 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 MBS and other ABS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 Other 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

 27 Property-casualty insurance companies 7.7 13.0 7.4 10.1 13.6 10.4 7.4 -1.2 3.3 7.2 27

 28 MBS and other ABS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

 29 Other 7.7 13.0 7.4 10.1 13.6 10.4 7.4 -1.2 3.3 7.2 29

 30 Life insurance companies 37.8 40.8 66.9 68.4 52.8 56.5 25.4 55.0 58.3 59.9 30

 31 MBS and other ABS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

 32 Other 37.8 40.8 66.9 68.4 52.8 56.5 25.4 55.0 58.3 59.9 32

 33 Private pension funds -26.2 26.8 -3.9 5.5 12.1 19.8 21.2 27.8 27.2 -6.6 33

 34 State and local govt. retirement funds 4.8 11.7 0.4 18.7 14.4 -10.5 2.6 12.2 22.1 0.1 34

 35 Federal government retirement funds 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.1 35

 36 Money market mutual funds 0.2 0.8 0.4 0.1 1.4 -1.7 1.8 2.5 5.4 3.4 36

 37 Mutual funds 8.0 20.2 4.1 3.2 4.8 4.7 28.4 31.0 50.6 3.2 37

 38 Closed-end funds 0.3 1.4 2.1 10.4 0.1 -0.9 -1.6 4.2 5.8 -4.4 38

 39 Exchange-traded funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 39

 40 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11.1 8.9 40

 41 MBS and other ABS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11.1 8.9 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 Finance companies 3.7 5.1 5.7 4.8 6.1 5.4 14.8 1.9 13.6 7.6 43

 44 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.0 0.2 1.0 44

 45 Brokers and dealers 9.2 0.3 -4.4 9.8 3.7 -4.0 12.0 10.0 22.2 -8.7 45

 46 Holding companies 3.1 -1.3 1.0 0.1 0.8 -1.9 -0.5 0.3 1.7 -0.1 46

 47 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4.0 10.0 47

(1) Net purchases of foreign issues by U.S. residents.

(2) Net issuance less net acquisition of corporate bonds held as assets.

(3) For some sectors, purchases of MBS and other ABS are shown separately. MBS and other ABS include privately issued mortgage-backed securities and other privately

 issued asset-backed bonds.

(4) Net purchases of U.S. issues by foreign residents.
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Historical Annuals, 1985-1994, 47

F.213 Corporate Equities (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Net issues -70.4 -69.1 -62.8 -105.5 -103.3 -48.9 71.2 99.6 135.8 13.1 1

 2 Nonfinancial corporate business -84.5 -85.0 -75.5 -129.5 -124.2 -63.0 18.3 27.0 21.3 -44.9 2

 3 Rest of the world (2) 3.7 1.2 -2.1 1.1 17.2 7.4 30.7 32.4 63.4 48.1 3

 4 Financial sectors 10.5 14.7 14.9 22.9 3.6 6.7 22.3 40.2 51.1 9.9 4

 5 U.S.-chartered depository institutions 1.4 1.4 1.5 2.5 1.5 2.1 0.9 4.3 1.9 1.8 5

 6 Property-casualty insurance companies 1.5 2.2 -2.0 -2.1 -1.6 -3.8 -2.6 -1.0 3.6 -3.5 6

 7 Life insurance companies -0.1 0.6 -0.9 -0.1 -0.6 -1.4 -0.1 0.6 -0.8 -1.7 7

 8 Closed-end funds 1.0 5.8 7.3 20.6 6.3 1.4 14.6 20.2 23.7 2.4 8

 9 Exchange-traded funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.5 -0.0 9

 10 REITs 3.2 1.8 1.4 2.2 1.8 1.3 1.6 2.0 13.2 11.1 10

 11 Government-sponsored enterprises 1.0 0.7 1.3 1.1 -0.8 -3.2 -1.2 0.0 2.4 0.3 11

 12 Brokers and dealers 2.5 2.2 6.3 -1.2 -3.0 3.4 -5.7 -1.9 1.3 4.7 12

 13 Holding companies 0.0 0.0 0.0 0.0 0.0 6.9 14.7 15.9 5.4 -5.1 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 -70.4 -69.1 -62.8 -105.5 -103.3 -48.9 71.2 99.6 135.8 13.1 15

 16 Household sector -130.1 -122.6 -143.8 -122.3 -110.1 -50.8 -53.9 27.2 -118.7 -145.3 16

 17 State and local governments 0.0 0.2 0.5 0.9 1.1 1.8 0.0 1.0 0.8 1.5 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) 4.4 17.9 15.0 -2.9 8.6 -16.7 3.8 -17.5 10.4 -11.5 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 -0.1 2.1 1.4 2.0 0.3 -5.1 0.5 -0.0 2.5 -3.1 21

 22 Foreign banking offices in U.S. 0.1 0.0 -0.1 -0.0 0.0 0.0 0.0 -0.0 0.0 -0.0 22

 23 Property-casualty insurance companies -2.0 -0.3 2.7 3.6 7.9 -7.0 -1.2 -0.4 0.8 0.8 23

 24 Life insurance companies 4.8 -2.1 5.7 -3.4 9.7 -5.7 17.0 12.4 41.1 42.5 24

 25 Private pension funds 11.3 -12.9 0.1 6.8 -33.9 0.6 12.8 2.7 36.3 -3.1 25

 26 State and local govt. retirement funds 28.6 24.0 32.4 22.9 14.0 22.5 39.1 13.8 33.3 26.1 26

 27 Federal government retirement funds 0.0 0.0 0.0 0.0 0.0 0.3 0.5 1.2 1.7 1.7 27

 28 Mutual funds 10.3 20.2 26.9 -16.0 1.2 14.4 48.5 59.8 115.3 100.8 28

 29 Closed-end funds -0.4 2.9 3.3 2.8 -0.3 0.1 1.8 -0.0 3.7 6.1 29

 30 Exchange-traded funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.5 -0.0 30

 31 Brokers and dealers 2.6 1.4 -7.1 0.1 -1.9 -3.3 2.4 -0.6 8.1 -3.4 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 86.5 153.3 60.2 -1.6 27.4 53.7 133.9 190.5 292.0 100.6 1

 2 Net purchases 86.5 153.3 60.2 -1.6 27.4 53.7 133.9 190.5 292.0 100.6 2

 3 Household sector 79.7 139.4 59.0 -1.7 27.3 31.5 102.7 133.3 227.5 3.2 3

 4 Nonfinancial corporate business 3.7 3.8 -2.7 -2.7 -1.4 -1.0 2.4 5.0 6.8 2.1 4

 5 State and local governments 0.0 0.0 0.0 0.1 1.4 3.5 2.8 4.6 5.1 8.2 5

 6 Rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 5.9 11.1 9.8 11.6 6

 7 U.S.-chartered depository institutions 0.0 0.0 0.0 0.0 -0.1 -0.3 1.8 -0.4 0.5 -1.9 7

 8 Credit unions 0.0 0.0 -0.0 -0.4 -0.1 0.2 1.2 1.5 0.1 -1.6 8

 9 Property-casualty insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.3 9

 10 Life insurance companies 1.1 10.2 -2.2 5.7 -4.1 12.6 1.0 9.0 1.5 4.4 10

 11 Private pension funds 2.0 1.8 2.2 -0.5 5.1 6.6 11.2 22.2 34.6 55.3 11

 12 State and local govt. retirement funds 0.0 -1.9 3.9 -2.1 -0.6 0.5 5.0 4.3 6.1 19.1 12

(1) Shares of open-end investment companies; excludes shares of money market mutual funds, exchange-traded funds, and funding vehicles for variable annuities.
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48 Historical Annuals, 1985-1994,

F.215 Depository Institution Loans Not Elsewhere Classified (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Net change in liabilities 47.1 78.2 2.5 44.7 38.8 -8.4 -40.9 -21.2 -6.5 62.5 1

 2 Household sector 8.0 -2.5 1.2 -1.6 -9.1 0.4 -2.3 5.8 8.7 9.2 2

 3 Corporate business 40.9 67.4 3.4 36.5 22.1 -10.6 -46.2 -30.4 -7.2 47.8 3

 4 Noncorporate business 2.1 0.6 8.7 9.3 12.8 4.0 0.1 2.7 4.4 15.3 4

 5 Rest of the world -2.8 -1.0 -3.6 -1.8 -0.1 -2.9 3.1 2.3 0.7 1.4 5

 6 Foreign official institutions -1.4 -0.0 -0.9 -0.5 -1.4 -0.5 -0.4 1.0 -1.0 -0.2 6

 7 Foreign banks -1.3 1.0 -2.9 0.0 0.7 -2.7 1.0 0.7 1.2 0.0 7

 8 Other foreign -0.1 -2.1 0.2 -1.3 0.5 0.4 2.5 0.6 0.5 1.6 8

 9 Financial sectors -1.1 13.7 -7.1 2.3 13.2 0.6 4.4 -1.6 -13.0 -11.3 9

 10 Finance companies -2.5 12.6 -8.3 1.0 13.2 3.2 7.4 2.0 -13.7 -17.1 10

 11 REITs 0.3 0.3 0.5 1.6 1.0 0.3 0.6 -1.3 -0.2 2.5 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 1.1 0.7 0.7 -0.3 -0.9 -2.9 -3.6 -2.4 0.8 3.3 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 47.1 78.2 2.5 44.7 38.8 -8.4 -40.9 -21.2 -6.5 62.5 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 34.5 56.1 -14.6 23.8 24.7 -17.7 -66.2 -29.4 7.8 44.6 17

 18 Foreign banking offices in U.S. 10.5 21.9 17.3 20.4 14.0 6.9 29.3 10.0 -14.0 15.3 18

 19 Banks in U.S.-affiliated areas 2.1 0.2 -0.1 0.4 0.1 3.3 -3.0 0.2 -0.5 1.7 19

 20 Credit unions 0.0 0.0 0.0 0.0 0.0 -0.9 -1.1 -1.9 0.2 0.9 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.
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Historical Annuals, 1985-1994, 49

F.216 Other Loans and Advances

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total other loans and advances 41.6 59.5 62.7 58.9 38.3 40.0 -95.6 11.9 -11.2 62.5 1

 2 U.S. government loans 15.9 9.0 -2.9 -7.8 -2.3 -1.9 -4.9 0.0 -10.5 1.9 2

 3 Liab.: Household sector 7.0 4.4 3.3 3.9 0.5 3.0 2.2 0.7 -4.4 3.2 3

 4 Nonfinancial corporate business -2.6 1.5 0.1 -1.3 -0.3 -0.8 -0.9 -0.1 -1.6 3.8 4

 5 Nonfinancial noncorporate business 0.8 0.5 -0.9 -3.0 0.1 -1.1 -1.2 -0.6 -2.7 0.4 5

 6 State and local governments 8.2 1.4 -2.4 -3.3 -0.2 0.9 0.4 -0.1 -0.7 0.4 6

 7 Rest of the world 1.4 1.5 -2.3 -4.0 -2.3 -3.8 -5.4 0.2 -1.1 -1.1 7

 8 Government-sponsored enterprises 1.1 -0.4 -0.8 0.0 0.0 -0.1 -0.0 -0.0 0.0 -4.8 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 7.4 21.6 0.5 21.9 22.4 50.1 -47.3 4.9 -15.8 1.6 11

 12 Liab.: Nonfinancial corporate business 7.4 21.6 0.5 21.9 22.4 50.1 -47.3 4.9 -15.8 1.6 12

 Customers’ liability on acceptances outstanding

 13 Asset: U.S.-chartered depository institutions -11.1 -7.3 -1.0 -3.1 -5.2 -4.1 -4.6 -0.1 -2.4 -0.2 13

 14 Foreign banking offices in U.S. 1.6 1.7 6.5 0.7 3.1 -5.7 -5.6 -3.6 -4.0 -2.1 14

 15 Liab.: Nonfinancial corporate business -2.1 -0.2 4.4 0.0 3.2 -6.6 -5.9 -2.9 -3.3 -2.1 15

 16 Rest of the world -7.4 -5.4 1.0 -2.4 -5.3 -3.2 -4.4 -0.7 -3.1 -0.3 16

 17 Holding company loans -0.7 1.5 0.5 -0.3 1.6 -0.2 -1.9 0.4 -1.8 -0.1 17

 18 Liab.: Nonfinancial corporate business -0.7 1.5 0.5 -0.3 1.6 -0.2 -1.9 0.4 -1.8 -0.1 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) -0.1 -0.1 -0.0 -0.0 3.2 4.1 4.8 5.7 5.6 7.8 20

 21 Asset: Federal government -0.0 0.2 0.4 -0.7 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 21

 22 Life insurance companies -0.1 -0.3 -0.4 0.6 3.2 4.1 4.8 5.7 5.7 7.8 22

 23 Govt.-sponsored enterprises loans (1) 10.3 17.6 25.0 18.8 -8.6 -23.1 -34.1 0.6 23.8 23.6 23

 24 Liab.: Household sector (SLMA) 0.1 0.0 0.1 -0.0 -0.0 0.3 0.4 -0.2 0.1 0.1 24

 25 Nonfinancial corporate business (FCS) -0.3 -0.2 -0.1 -0.2 0.2 0.0 0.1 0.0 0.0 0.1 25

 26 Nonfinancial noncorporate business (FCS) -4.6 -2.9 -0.7 -0.5 1.7 0.5 2.7 1.3 1.4 0.7 26

 27 U.S.-chartered dep. inst. (FHLB & SLMA) 15.2 20.6 25.8 19.4 -10.5 -23.9 -37.3 -0.6 21.9 22.1 27

 28 Credit unions (FHLB) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.2 28

 29 Life insurance companies (FHLB) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.3 29

 30 Securitized loans held by ABS issuers 0.0 0.0 0.0 0.0 0.6 3.6 2.5 2.9 9.7 4.3 30

 31 Liab.: Nonfinancial corporate business 0.0 0.0 0.0 0.0 0.6 3.6 2.5 2.9 9.7 4.3 31

 32 Finance company loans to business 18.3 15.6 34.3 28.6 23.5 17.4 -4.3 1.1 -15.9 25.9 32

 33 Liab.: Nonfinancial corporate business 16.4 14.0 30.8 25.8 21.1 15.6 -3.9 1.0 -14.3 23.3 33

 34 Nonfinancial noncorporate business 1.8 1.6 3.4 2.9 2.3 1.7 -0.4 0.1 -1.6 2.6 34

 35 Loans to nonfinancial corporate business (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 35

 36 Asset: Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 36

 37 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 37

 38 Mutual funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 38

 39 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 39

 40 Brokers and dealers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 40

 41 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 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.
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50 Historical Annuals, 1985-1994,

F.217 Total Mortgages

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Net change in mortgages 259.8 287.0 321.2 322.6 265.1 226.5 147.5 111.0 117.2 164.2 1

 2 Home 179.9 203.3 240.3 223.8 226.4 208.2 164.4 167.4 156.6 177.2 2

 3 Multifamily residential 28.5 33.5 16.9 18.2 10.5 -1.2 -3.3 -13.2 -4.7 0.5 3

 4 Commercial 69.8 60.3 72.3 85.6 30.3 20.6 -13.4 -43.7 -35.3 -15.0 4

 5 Farm -18.3 -10.0 -8.3 -5.0 -2.1 -1.1 -0.2 0.4 0.6 1.5 5

 6 Net borrowing 259.8 287.0 321.2 322.6 265.1 226.5 147.5 111.0 117.2 164.2 6

 7 Household sector 184.7 203.5 227.9 220.1 232.1 207.4 183.2 179.6 167.0 165.7 7

 8 Nonfinancial business 75.1 83.3 93.0 102.2 32.7 18.5 -36.1 -69.2 -53.4 -11.3 8

 9 Corporate 4.8 15.9 45.5 26.8 1.2 23.3 -8.8 -39.2 -31.3 -6.7 9

 10 Noncorporate 70.3 67.4 47.5 75.4 31.5 -4.7 -27.3 -30.0 -22.1 -4.6 10

 11 Federal government -0.1 -0.0 -0.0 -0.0 -0.0 -0.0 0.0 -0.0 -0.0 0.0 11

 12 REITs 0.1 0.3 0.3 0.3 0.3 0.6 0.5 0.6 3.6 9.8 12

 13 Net change in assets 259.8 287.0 321.2 322.6 265.1 226.5 147.5 111.0 117.2 164.2 13

 14 Household sector 4.0 -3.6 14.4 2.3 8.9 10.2 1.8 -5.9 -7.4 -8.5 14

 15 Nonfinancial corporate business 5.6 -6.9 1.4 16.6 -13.7 -1.6 6.2 1.1 -7.8 4.1 15

 16 Nonfinancial noncorporate business 4.7 0.7 -6.8 9.9 -12.7 -4.1 -5.0 -0.9 -3.3 2.0 16

 17 State and local governments 9.8 11.8 8.7 4.0 6.3 5.3 3.5 -0.0 -5.4 2.2 17

 18 Federal government 1.8 0.5 -5.3 -1.1 -0.7 35.6 15.4 -11.9 -15.4 -14.0 18

 19 U.S.-chartered depository institutions 105.1 89.6 137.5 142.2 64.1 -37.1 -73.7 -56.3 23.1 65.9 19

 20 Foreign banking offices in U.S. 0.1 2.9 5.2 8.1 8.1 15.3 8.8 -2.7 -6.5 -4.8 20

 21 Banks in U.S.-affiliated areas 0.2 0.1 0.2 0.6 0.7 0.9 0.6 0.8 1.3 1.6 21

 22 Credit unions 3.6 8.2 10.5 8.2 6.8 5.8 4.2 2.9 1.9 5.2 22

 23 Property-casualty insurance companies 0.7 1.0 0.6 0.6 0.9 0.4 -0.4 -0.6 -1.4 -0.7 23

 24 Life insurance companies 15.1 22.0 18.5 20.5 21.4 13.6 -8.4 -17.5 -18.1 -8.1 24

 25 Private pension funds 4.3 -2.8 -3.1 8.5 6.6 1.6 -6.7 -3.7 -1.6 -5.2 25

 26 State and local govt. retirement funds 0.1 0.2 -0.2 0.3 -0.3 0.8 0.8 -0.4 -1.9 0.7 26

 27 Government-sponsored enterprises (1) 9.6 -12.0 -8.3 5.0 6.0 5.7 11.5 32.1 41.3 3.6 27

 28 Agency- and GSE-backed mortgage pools 78.9 164.3 137.8 75.9 124.3 150.3 136.6 115.6 84.7 115.3 28

 29 ABS issuers 6.0 -6.7 13.6 9.0 12.2 13.4 43.5 54.8 36.4 20.1 29

 30 Finance companies 8.0 17.5 -4.7 10.3 26.6 11.2 9.5 2.7 -3.1 -19.8 30

 31 REITs 2.4 0.0 1.0 1.7 -0.3 -0.7 -0.7 1.1 0.6 4.7 31
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Historical Annuals, 1985-1994, 51

F.218 Home Mortgages (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Net borrowing 179.9 203.3 240.3 223.8 226.4 208.2 164.4 167.4 156.6 177.2 1

 2 Household sector 181.5 198.8 221.5 215.7 224.9 200.1 174.6 173.1 156.3 166.5 2

 3 Nonfinancial corporate business -1.1 0.0 1.1 1.1 -0.2 1.1 -2.5 -1.6 -0.4 1.3 3

 4 Nonfinancial noncorporate business -0.5 4.5 17.6 7.0 1.7 7.0 -7.7 -4.0 0.7 9.4 4

 5 Net change in assets 179.9 203.3 240.3 223.8 226.4 208.2 164.4 167.4 156.6 177.2 5

 6 Household sector 10.3 0.3 17.8 5.6 9.0 11.3 1.5 -7.4 -9.0 -9.0 6

 7 Nonfinancial corporate business 3.7 3.6 3.9 -1.5 8.9 5.6 3.0 -0.3 -5.2 1.8 7

 8 Nonfinancial noncorporate business 0.6 0.2 -2.3 5.8 -5.5 -2.6 -0.7 0.6 -1.3 0.7 8

 9 State and local governments 5.9 3.9 1.2 2.5 4.7 3.6 2.0 -0.6 -6.0 1.0 9

 10 Federal government 0.9 -0.7 -3.3 0.3 0.3 16.6 -0.9 -0.5 -6.0 -3.9 10

 11 U.S.-chartered depository institutions 49.1 27.8 80.5 112.0 41.4 -3.2 -39.4 -23.1 32.9 65.1 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 0.1 0.1 0.1 0.2 0.2 0.2 -0.0 1.0 1.2 0.6 13

 14 Credit unions 3.6 8.2 10.5 8.2 6.8 5.8 4.2 2.9 1.9 5.2 14

 15 Life insurance companies -0.5 0.5 0.4 -2.0 1.1 1.4 -2.9 0.5 -2.7 0.1 15

 16 Private pension funds 0.7 -0.5 -2.6 1.4 2.6 0.0 -1.5 -0.8 -0.0 0.5 16

 17 State and local govt. retirement funds -0.1 -0.6 0.3 -0.1 0.0 0.1 0.2 -0.3 0.1 0.4 17

 18 Government-sponsored enterprises 17.2 -5.7 -3.1 6.2 5.1 5.3 11.2 30.3 40.0 3.0 18

 19 Agency- and GSE-backed mortgage pools 77.6 159.3 133.4 70.7 120.2 147.3 139.3 117.8 86.1 115.3 19

 20 ABS issuers 5.4 -7.4 11.2 7.1 8.5 11.7 38.1 45.5 25.6 15.1 20

 21 Finance companies 5.4 14.2 -7.8 7.3 23.1 5.1 10.2 1.1 -2.3 -21.5 21

 22 REITs 0.1 -0.0 0.0 0.1 -0.0 -0.0 -0.1 0.8 1.1 2.8 22

 Memo:

 23 Home equity loans included above (2) ND ND ND ND ND ND 7.3 -4.9 -6.7 11.4 23

 24 U.S.-chartered depository institutions ND ND ND ND ND ND 6.3 -5.3 -5.1 8.0 24

 25 Foreign banking offices in U.S. ND ND ND ND ND ND 0.0 0.0 0.0 0.0 25

 26 Credit unions ND ND ND ND ND ND 1.2 -0.8 -1.3 1.6 26

 27 ABS issuers ND ND ND ND ND ND 0.3 0.5 0.6 0.6 27

 28 Finance companies 2.6 3.2 4.1 2.3 -13.2 3.0 -0.5 0.7 -0.9 1.2 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 28.5 33.5 16.9 18.2 10.5 -1.2 -3.3 -13.2 -4.7 0.5 1

 2 Nonfinancial corporate business 1.4 1.7 0.8 0.9 0.5 -0.1 -0.2 -0.7 -0.3 -0.1 2

 3 Nonfinancial noncorporate business 27.1 31.8 15.9 17.2 9.9 -1.4 -3.3 -12.7 -5.6 -2.6 3

 4 Federal government -0.1 -0.0 -0.0 -0.0 -0.0 -0.0 0.0 -0.0 -0.0 0.0 4

 5 REITs 0.0 0.1 0.1 0.1 0.1 0.2 0.2 0.2 1.2 3.2 5

 6 Net change in assets 28.5 33.5 16.9 18.2 10.5 -1.2 -3.3 -13.2 -4.7 0.5 6

 7 Household sector 0.4 1.0 -2.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Nonfinancial corporate business -0.2 1.0 2.0 -3.1 2.0 -1.7 -1.0 -0.2 0.1 0.4 8

 9 Nonfinancial noncorporate business 0.7 1.0 -0.9 2.5 -3.2 0.8 -0.6 -0.0 -1.1 0.6 9

 10 State and local governments 3.2 7.0 7.0 1.1 1.2 1.0 1.0 0.7 0.4 0.7 10

 11 Federal government 0.0 0.7 0.4 0.3 0.5 10.6 8.9 -4.2 -4.5 -2.6 11

 12 U.S.-chartered depository institutions 17.6 14.9 6.0 6.5 -0.0 -16.5 -12.4 -9.0 -1.6 -2.1 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 1.0 1.1 1.6 2.0 2.3 2.1 0.4 -2.1 0.3 0.3 14

 15 Private pension funds 1.6 0.3 -1.1 1.1 1.3 -2.8 -0.3 -0.2 -0.0 0.3 15

 16 State and local govt. retirement funds -0.0 0.0 -0.4 -0.2 -0.3 -0.2 -0.2 -0.7 -0.1 0.2 16

 17 Government-sponsored enterprises 1.9 0.3 -0.3 1.1 2.5 1.2 1.0 1.6 1.7 0.9 17

 18 Agency- and GSE-backed mortgage pools 1.5 5.1 4.5 5.2 4.1 3.0 -2.6 -2.3 -1.4 -0.0 18

 19 ABS issuers 0.0 0.2 0.4 0.4 -0.0 -0.1 2.9 2.8 1.8 1.4 19

 20 Finance companies 0.4 0.9 -0.6 0.5 0.2 1.5 -0.2 0.4 -0.0 0.2 20

 21 REITs 0.4 0.0 0.3 0.5 -0.1 -0.2 -0.1 0.0 -0.3 0.2 21
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52 Historical Annuals, 1985-1994,

F.220 Commercial Mortgages

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Net borrowing 69.8 60.3 72.3 85.6 30.3 20.6 -13.4 -43.7 -35.3 -15.0 1

 2 Household sector 3.2 4.7 6.3 4.4 7.2 7.2 8.6 6.6 10.7 -0.8 2

 3 Nonfinancial corporate business 5.8 14.9 44.0 25.1 1.0 22.1 -6.2 -37.0 -30.8 -8.3 3

 4 Nonfinancial noncorporate business 60.7 40.5 21.7 55.9 21.9 -9.1 -16.0 -13.6 -17.5 -12.5 4

 5 REITs 0.0 0.2 0.2 0.2 0.2 0.4 0.3 0.4 2.4 6.6 5

 6 Net change in assets 69.8 60.3 72.3 85.6 30.3 20.6 -13.4 -43.7 -35.3 -15.0 6

 7 Household sector 0.9 -1.1 1.9 -0.8 0.9 -0.7 -0.1 0.9 0.9 -0.1 7

 8 Nonfinancial corporate business 2.0 -11.5 -4.6 21.3 -24.7 -5.5 4.2 1.5 -2.6 2.0 8

 9 Nonfinancial noncorporate business 3.4 -0.5 -3.6 1.6 -4.0 -2.2 -3.7 -1.4 -0.9 0.5 9

 10 State and local governments 0.7 0.7 0.6 0.4 0.4 0.7 0.6 -0.1 0.2 0.5 10

 11 Federal government 0.3 0.2 -1.8 -1.3 -0.9 9.0 7.7 -6.6 -4.5 -7.3 11

 12 U.S.-chartered depository institutions 38.3 45.9 49.6 23.0 21.7 -17.8 -22.8 -25.3 -9.0 1.6 12

 13 Foreign banking offices in U.S. 0.1 2.9 5.2 8.1 8.1 15.3 8.8 -2.7 -6.5 -4.8 13

 14 Banks in U.S.-affiliated areas 0.1 0.1 0.1 0.4 0.5 0.7 0.7 -0.2 0.1 0.9 14

 15 Property-casualty insurance companies 0.7 1.0 0.6 0.6 0.9 0.4 -0.4 -0.6 -1.4 -0.7 15

 16 Life insurance companies 16.5 21.4 17.6 20.8 17.9 9.6 -5.6 -15.1 -16.0 -8.5 16

 17 Private pension funds 1.9 -2.6 0.6 5.9 2.7 4.3 -4.9 -2.7 -1.5 -6.0 17

 18 State and local govt. retirement funds 0.2 0.8 -0.1 0.5 -0.1 0.9 0.8 0.6 -1.9 0.1 18

 19 Agency- and GSE-backed mortgage pools 0.0 0.1 -0.1 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 19

 20 ABS issuers 0.6 0.6 2.0 1.5 3.7 1.8 2.4 6.5 9.0 3.6 20

 21 Finance companies 2.1 2.3 3.6 2.5 3.3 4.6 -0.6 1.2 -0.8 1.5 21

 22 REITs 1.9 0.0 0.7 1.1 -0.2 -0.5 -0.5 0.3 -0.3 1.7 22

F.221 Farm Mortgages (1)

Billions of dollars

 1 Net borrowing -18.3 -10.0 -8.3 -5.0 -2.1 -1.1 -0.2 0.4 0.6 1.5 1

 2 Nonfinancial corporate business -1.3 -0.7 -0.5 -0.3 -0.1 0.0 0.1 0.1 0.2 0.4 2

 3 Nonfinancial noncorporate business -17.1 -9.3 -7.7 -4.6 -2.0 -1.2 -0.3 0.3 0.3 1.0 3

 4 Net change in assets -18.3 -10.0 -8.3 -5.0 -2.1 -1.1 -0.2 0.4 0.6 1.5 4

 5 Household sector -7.5 -3.8 -3.2 -2.5 -1.0 -0.4 0.4 0.6 0.7 0.7 5

 6 Nonfinancial noncorporate business 0.0 0.0 0.0 0.0 0.0 -0.1 -0.1 -0.0 -0.1 0.0 6

 7 State and local governments 0.0 0.2 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 7

 8 Federal government 0.6 0.3 -0.5 -0.4 -0.6 -0.7 -0.4 -0.6 -0.5 -0.3 8

 9 U.S.-chartered depository institutions 0.1 1.0 1.4 0.6 1.0 0.4 0.8 1.1 0.7 1.3 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 -1.9 -0.9 -1.0 -0.4 0.0 0.5 -0.2 -0.7 0.2 0.0 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 -9.5 -6.5 -4.9 -2.3 -1.5 -0.9 -0.7 0.1 -0.5 -0.3 13

 14 Agency- and GSE-backed mortgage pools -0.2 -0.2 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 14

(1) Excludes mortgages on farm houses.
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Historical Annuals, 1985-1994, 53

F.222 Consumer Credit

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Net change in liabilities (Households) 84.0 55.8 32.3 46.6 47.0 15.1 -8.8 9.2 61.4 135.0 1

 2 Net change in assets 84.0 55.8 32.3 46.6 47.0 15.1 -8.8 9.2 61.4 135.0 2

 3 Households (nonprofit organizations) (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Nonfinancial corporate business 4.1 4.5 7.0 6.7 3.1 3.3 -4.2 2.8 6.9 9.4 4

 5 Nonfinancial noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Federal government (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.4 6.5 6

 7 U.S.-chartered depository institutions 51.8 28.3 16.3 28.1 18.3 -14.2 -19.3 -12.1 33.3 63.7 7

 8 Credit unions 6.1 3.1 4.0 7.3 3.3 -0.1 -1.3 1.4 9.9 18.0 8

 9 Government-sponsored enterprises 1.2 1.4 1.9 3.2 2.8 3.2 1.9 3.1 2.6 3.6 9

 10 ABS issuers 0.0 0.0 0.0 0.0 20.2 29.3 26.3 17.3 10.2 15.6 10

 11 Finance companies 20.7 18.6 3.1 1.2 -0.7 -6.5 -12.2 -3.3 -1.9 18.3 11

 Memo:

 12 Credit card loans (3) 25.3 17.3 20.7 24.8 18.1 28.6 26.2 15.2 32.8 58.2 12

 13 Auto loans 36.4 36.2 18.6 18.9 -1.9 -7.0 -19.7 -0.2 25.8 40.4 13

 14 Student loans (4) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Other consumer credit (5) 22.3 2.3 -7.1 2.9 30.8 -6.5 -15.3 -5.8 2.9 36.4 15

(1) Student loans originated under the Federal Family Education Loan Program.

(2) Includes loans originated by the Department of Education under the Federal Direct Loan Program and Perkins Loans, as well as Federal Family Education Loan Program

 loans that the government purchased from depository institutions, finance companies, and nonprofit and educational institutions, and loans in default.

(3) Revolving credit that also includes overdraft plans on checking accounts and other loans without a fixed repayment schedule.

(4) Includes student loans held by nonprofit organizations (line 3), the federal government (line 6), depository institutions (part of lines 7 and 8), and

 finance companies (part of line 11). Data begin in 2006:Q1.

(5) Includes student loans before 2006:Q1.
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54 Historical Annuals, 1985-1994,

F.223 Trade Credit

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Net change in trade payables 66.1 21.2 73.4 91.8 62.9 41.6 43.3 59.1 68.7 108.5 1

 2 Household sector 3.1 2.3 4.7 2.4 16.2 9.3 9.4 5.9 6.0 5.2 2

 3 Nonfinancial corporate business 42.5 -2.0 44.4 54.1 21.6 28.3 23.1 33.4 36.5 77.4 3

 4 Nonfinancial noncorporate business -1.3 -2.1 5.1 7.0 2.5 -0.1 -1.0 6.3 1.5 7.4 4

 5 State and local governments 8.7 9.5 10.1 10.8 11.8 12.9 13.7 14.3 15.0 16.0 5

 6 Federal government 10.6 14.6 7.5 8.0 8.6 -5.8 -5.5 -2.8 3.0 -0.2 6

 7 Rest of the world -0.2 -0.8 2.5 7.7 2.8 -1.2 3.1 1.4 4.1 3.6 7

 8 Brokers and dealers 2.5 -0.4 -0.8 1.7 -0.5 -1.9 0.7 0.6 2.7 -0.9 8

 9 Net change in trade receivables 60.5 16.0 82.5 118.1 62.9 49.6 -5.0 37.0 62.1 100.5 9

 10 Nonfinancial corporate business 45.2 2.1 63.9 90.6 42.1 29.2 -5.8 27.6 50.7 71.9 10

 11 Nonfinancial noncorporate business 4.5 8.0 1.4 12.0 6.8 2.7 -1.1 7.1 4.9 16.3 11

 12 State and local governments 3.8 0.9 3.8 4.8 3.5 2.4 2.4 3.1 3.6 5.4 12

 13 Federal government 3.7 -2.3 8.0 0.1 3.2 -1.7 -4.6 -6.7 -2.4 -3.8 13

 14 Rest of the world 0.2 1.4 0.1 2.1 2.6 6.3 -1.8 1.7 1.0 1.5 14

 15 Property-casualty insurance companies 2.2 4.9 3.6 6.8 2.8 2.0 1.9 -0.1 1.7 2.2 15

 16 ABS issuers 0.9 0.9 1.8 1.7 1.9 8.7 4.1 4.3 2.6 6.8 16

 17 Discrepancy 5.6 5.2 -9.1 -26.2 0.0 -8.0 48.3 22.1 6.7 8.0 17

F.224 Security Credit

Billions of dollars

 1 Net change in liabilities 43.3 9.9 -27.4 3.0 15.6 3.5 51.4 4.6 61.4 -0.1 1

 2 Household sector 18.9 6.7 -16.3 1.7 -1.0 -3.7 16.3 -1.6 22.6 -1.1 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 24.5 3.2 -11.1 1.3 16.6 7.2 35.2 6.2 38.7 1.0 4

 5 Customer credit balances (HH) 13.5 9.0 -5.8 1.8 12.3 9.2 24.6 -10.8 26.0 6.7 5

 6 From U.S.-chartered depository institutions 6.8 -5.9 -3.2 -0.4 4.2 -5.4 2.2 3.1 4.1 -4.6 6

 7 From foreign banking offices in U.S. 4.2 0.1 -2.1 -0.1 0.1 3.4 8.4 13.9 8.6 -1.2 7

 8 Net change in assets 43.3 9.9 -27.4 3.0 15.6 3.5 51.4 4.6 61.4 -0.1 8

 9 Household sector 13.5 9.0 -5.8 1.8 12.3 9.2 24.6 -10.8 26.0 6.7 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 6.8 -5.9 -3.2 -0.4 4.2 -5.4 2.2 3.1 4.1 -4.6 11

 12 Foreign banking offices in U.S. 4.2 0.1 -2.1 -0.1 0.1 3.4 8.4 13.9 8.6 -1.2 12

 13 Brokers and dealers 18.9 6.7 -16.3 1.7 -1.0 -3.7 16.3 -1.6 22.6 -1.1 13
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Historical Annuals, 1985-1994, 55

F.225 Life Insurance Reserves

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Net change in liabilities 11.5 18.3 26.9 26.1 29.6 26.5 26.8 29.1 37.1 35.5 1

 2 Federal government 1.1 1.0 1.2 1.2 1.2 1.2 1.2 1.4 1.4 1.3 2

 3 Life insurance companies 10.4 17.2 25.7 24.9 28.4 25.3 25.6 27.7 35.7 34.3 3

 4 Net change in assets 11.5 18.3 26.9 26.1 29.6 26.5 26.8 29.1 37.1 35.5 4

 5 Households 11.5 18.3 26.9 26.1 29.6 26.5 26.8 29.1 37.1 35.5 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

F.226 Pension Entitlements

Billions of dollars

 1 Net change in liabilities 231.0 230.1 225.1 284.5 267.3 300.2 301.8 333.8 359.2 339.1 1

 2 Life insurance companies (1) 55.6 63.4 30.9 69.2 52.3 79.7 38.8 82.4 81.4 45.5 2

 3 Private pension funds (2) 72.4 57.4 81.6 96.6 83.1 81.5 115.4 85.9 111.8 122.1 3

 4 State and local govt. retirement funds 43.7 46.9 50.7 54.5 65.0 70.6 76.7 91.5 94.1 98.6 4

 5 Federal government retirement funds (3) 59.3 62.4 61.8 64.2 66.9 68.4 70.9 74.1 71.9 72.9 5

 6 Net change in assets (Households) (4) 231.0 230.1 225.1 284.5 267.3 300.2 301.8 333.8 359.2 339.1 6

(1) Annuities, including those at IRAs.

(2) Includes unallocated insurance company contracts beginning 1985:Q4.

(3) Includes the Thrift Savings Plan, the National Railroad Retirement Investment Trust, and other federal government retirement funds.

(4) Excludes all individual retirement accounts (IRAs) (table F.226.i), except those at life insurance companies.

F.227 Taxes Payable by Businesses

Billions of dollars

 1 Net change in taxes payable by all 1.3 6.9 3.6 0.8 -2.1 2.1 -7.9 7.3 5.8 0.2 1

 businesses

 2 Nonfinancial corporate business -3.2 3.8 5.1 -3.5 -6.1 0.0 -9.4 6.5 5.4 -0.4 2

 3 Nonfinancial noncorporate business 3.4 1.7 0.6 2.9 4.7 0.6 0.5 0.6 -1.7 1.4 3

 4 U.S.-chartered depository institutions 0.2 0.3 -2.4 0.2 -1.3 -0.1 -1.4 -0.2 -2.9 -2.0 4

 5 Property-casualty insurance companies 0.1 0.2 0.5 0.3 -0.7 0.7 0.7 -1.7 2.1 -0.4 5

 6 Life insurance companies 0.4 0.7 0.2 0.5 0.9 0.5 1.1 1.4 1.6 1.0 6

 7 Finance companies 0.0 0.0 0.3 0.2 0.4 0.4 0.5 0.6 0.8 0.8 7

 8 Brokers and dealers 0.3 0.2 -0.6 0.1 0.1 0.1 0.2 0.0 0.5 -0.2 8

 9 Net change in business taxes receivable -2.0 1.0 -5.7 -3.2 -0.8 -5.8 -5.2 -0.4 -5.8 -5.0 9

 10 State and local governments 4.0 2.7 0.5 3.6 3.5 -0.5 1.8 -0.1 -2.7 1.3 10

 11 Federal government -6.0 -1.7 -6.2 -6.8 -4.3 -5.2 -7.0 -0.4 -3.1 -6.3 11

 12 Discrepancy 3.4 5.9 9.3 3.9 -1.3 7.9 -2.7 7.7 11.6 5.2 12

F.228 Proprietors’ Equity in Noncorporate Business

Billions of dollars

 1 Total household investment -16.9 -5.6 -25.0 -29.8 -32.3 23.5 30.7 33.2 49.4 47.0 1

 2 Nonfinancial noncorporate business -17.0 -6.7 -24.2 -29.9 -30.5 24.2 30.2 33.1 48.5 48.2 2

 3 Brokers and dealers 0.1 1.2 -0.8 0.1 -1.7 -0.7 0.5 0.1 0.9 -1.1 3
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56 Historical Annuals, 1985-1994,

F.229 Total Miscellaneous Financial Claims

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Net change in liabilities 520.6 228.3 348.6 546.9 628.4 249.1 352.8 391.1 366.9 349.0 1

 2 Household sector 0.1 -1.3 1.2 0.4 0.8 0.1 -0.7 0.0 0.5 0.5 2

 3 Nonfinancial corporate business 238.3 42.2 134.6 297.8 289.6 87.6 88.6 77.5 20.9 19.7 3

 4 Nonfinancial noncorporate business 29.8 9.6 -5.8 18.2 22.2 -2.6 3.6 14.0 5.1 16.1 4

 5 Federal government 59.9 65.6 51.4 72.2 80.9 48.5 82.1 69.7 67.9 71.4 5

 6 Rest of the world 7.6 14.8 37.1 18.6 58.1 45.2 38.6 55.7 119.8 91.5 6

 7 Monetary authority 0.1 -1.1 1.0 1.1 -0.6 -1.0 -0.3 -0.4 0.9 0.9 7

 8 U.S.-chartered depository institutions 43.3 27.7 -3.9 49.1 18.7 14.4 -2.2 25.0 24.7 43.7 8

 9 Foreign banking offices in U.S. 2.4 4.8 25.8 14.0 78.0 -3.0 20.9 28.0 28.5 32.0 9

 10 Banks in U.S.-affiliated areas 1.7 -2.8 -1.9 0.1 0.3 0.8 -1.6 0.6 1.1 2.3 10

 11 Credit unions -0.1 0.2 0.9 0.4 -0.6 0.2 0.6 0.1 0.5 1.4 11

 12 Property-casualty insurance companies 37.3 42.7 42.4 31.3 34.0 26.5 15.5 23.1 15.8 16.4 12

 13 Life insurance companies 14.0 18.6 38.8 10.3 22.3 4.9 31.2 -8.4 6.3 39.1 13

 14 Government-sponsored enterprises 8.8 8.2 -2.4 1.1 6.3 4.6 7.3 12.5 -4.9 -24.9 14

 15 Finance companies 13.7 1.0 29.4 17.1 4.9 4.4 16.8 -1.6 11.4 2.3 15

 16 REITs 0.1 0.1 0.4 2.3 -1.4 -0.9 1.6 0.6 -0.1 2.9 16

 17 Brokers and dealers 6.9 7.0 1.1 1.8 -6.9 5.0 4.0 13.1 32.0 1.7 17

 18 Holding companies 6.1 13.3 6.4 8.1 4.9 -0.4 -15.8 10.0 14.0 -0.3 18

 19 Funding corporations 60.4 -1.0 9.9 -6.4 1.6 -7.1 36.7 42.9 -8.7 -5.4 19

 20 Net change in assets 337.7 341.4 478.2 564.1 497.1 361.0 400.3 409.5 570.7 593.4 20

 21 Household sector 31.3 20.7 28.3 21.0 17.1 20.0 10.7 18.3 13.3 14.7 21

 22 Nonfinancial corporate business 123.2 108.1 162.1 231.9 110.1 113.7 40.1 74.7 236.9 161.7 22

 23 Nonfinancial noncorporate business 4.7 11.0 2.1 15.1 9.3 -3.2 9.4 5.0 16.1 19.2 23

 24 State and local governments 6.0 1.7 3.9 -0.5 1.4 1.5 3.6 -3.3 -33.8 48.7 24

 25 Federal government 1.4 0.5 1.3 1.0 15.4 34.3 36.1 15.4 -3.8 3.2 25

 26 Rest of the world 24.8 23.4 78.2 73.1 85.7 41.2 71.6 34.6 79.2 55.4 26

 27 Monetary authority 1.0 1.7 2.2 0.4 7.4 -1.2 -2.3 -2.2 2.6 2.6 27

 28 U.S.-chartered depository institutions 23.9 11.4 2.1 22.5 8.9 19.6 -16.3 1.6 -7.7 58.0 28

 29 Foreign banking offices in U.S. 1.2 6.5 17.7 2.1 66.5 -24.1 14.8 34.9 34.7 38.5 29

 30 Banks in U.S.-affiliated areas -0.8 -2.1 -0.6 1.4 0.9 0.1 -0.5 -0.7 -0.4 -0.1 30

 31 Credit unions 1.2 2.9 -0.9 0.0 1.1 2.0 4.6 3.7 1.7 -3.4 31

 32 Property-casualty insurance companies -0.1 0.7 1.8 2.7 1.6 1.4 -0.3 -2.7 2.8 1.7 32

 33 Life insurance companies 5.6 7.0 13.0 8.6 8.7 -4.1 11.2 -2.8 -1.0 6.8 33

 34 Private pension funds 16.2 50.1 74.1 49.2 26.8 36.0 55.2 50.2 -0.3 22.7 34

 35 State and local govt. retirement funds 0.1 0.2 -0.1 1.5 4.2 1.6 -3.2 -0.1 -0.4 0.5 35

 36 Federal government retirement funds 59.3 62.4 60.8 62.5 64.7 65.6 67.8 69.8 67.2 67.5 36

 37 Money market mutual funds 0.3 1.6 0.8 0.3 2.9 -3.5 3.7 5.0 11.0 4.1 37

 38 Mutual funds 0.0 1.7 1.1 -0.3 3.6 1.7 -0.7 -5.2 0.3 2.5 38

 39 Government-sponsored enterprises -3.1 1.9 6.9 7.5 10.0 2.7 6.3 -12.3 5.6 -5.2 39

 40 Finance companies 2.2 2.2 6.1 2.7 -8.5 -1.9 11.1 -7.0 8.9 -16.2 40

 41 REITs 0.2 -0.4 0.9 0.8 1.6 -0.4 1.1 -2.3 1.4 1.8 41

 42 Brokers and dealers 9.7 10.3 -2.7 10.5 23.0 29.4 34.3 52.6 49.6 24.8 42

 43 Holding companies 28.5 31.4 27.3 21.1 16.9 3.2 5.9 30.2 44.9 30.6 43

 44 Funding corporations 10.7 7.5 9.6 19.6 2.5 3.6 10.2 23.0 10.6 15.6 44

 45 Discrepancy 182.9 -113.1 -129.6 -17.2 131.4 -111.9 -47.4 -18.4 -203.8 -244.4 45
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Historical Annuals, 1985-1994, 57

F.230 Identified Miscellaneous Financial Claims - Part I

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 U.S. direct investment abroad (1):

 1 Liab.: Rest of the world 14.8 19.1 31.2 16.1 38.8 32.8 39.1 44.5 84.0 80.2 1

 2 Equity -1.7 1.1 4.9 -6.7 6.4 8.7 17.7 14.6 24.6 33.7 2

 3 Reinvested earnings 19.7 14.0 23.3 18.0 18.5 27.6 23.5 21.9 36.7 31.0 3

 4 Intercompany accounts -3.2 3.9 3.0 4.8 13.9 -3.6 -2.1 7.9 22.7 15.5 4

 5 Asset: Nonfinancial corporate business 14.3 19.0 29.7 11.8 26.1 35.6 38.1 40.0 57.9 78.5 5

 6 U.S.-chartered depository institutions 0.3 -1.7 -1.2 -0.1 0.2 0.2 -1.0 2.0 2.0 2.6 6

 7 Property-casualty insurance companies -0.1 0.7 1.8 2.7 1.6 1.4 -0.3 -2.7 2.8 1.7 7

 8 Life insurance companies 0.1 -0.2 0.0 0.0 -0.1 0.6 0.6 0.3 -0.1 0.6 8

 9 Finance companies 0.1 1.2 -0.7 2.3 11.0 -5.4 1.3 3.7 20.4 0.7 9

 10 Brokers and dealers 0.1 -0.0 1.7 -0.7 0.0 0.3 0.5 1.2 1.0 -3.9 10

 Foreign direct investment in U.S. (1):

 11 Liab.: Nonfinancial corporate business 17.5 31.9 52.5 69.8 62.4 59.1 -1.3 6.7 20.3 46.1 11

 12 Nonfinancial noncorporate business 0.6 1.1 0.6 0.8 1.4 0.7 -0.0 0.1 0.0 0.0 12

 13 Foreign banking offices in U.S. 1.4 1.6 1.7 2.7 2.3 0.9 2.6 2.7 2.2 3.4 13

 14 Property-casualty insurance companies 0.3 0.5 1.0 1.2 2.2 2.5 3.5 0.5 0.7 1.8 14

 15 Life insurance companies 0.7 2.2 0.9 1.3 1.4 1.9 1.0 1.2 0.2 1.0 15

 16 Finance companies -0.5 2.1 -0.2 -0.5 7.2 -3.5 1.3 1.7 7.1 0.4 16

 17 Brokers and dealers -0.3 0.6 2.1 0.9 1.4 0.1 2.0 0.0 16.5 0.9 17

 18 Funding corporations 0.0 -4.4 -0.1 -18.5 -10.0 -13.2 14.2 6.9 4.3 -7.5 18

 19 Asset: Rest of the world 19.7 35.4 58.5 57.7 68.3 48.5 23.2 19.8 51.4 46.1 19

 20 Equity 15.2 25.1 34.3 45.0 51.8 56.2 45.8 31.6 29.7 37.2 20

 21 Reinvested earnings -0.7 -1.0 -0.5 1.1 -8.1 -14.1 -18.3 -11.6 -7.1 4.9 21

 22 Intercompany accounts 5.2 11.3 24.7 11.6 24.6 6.3 -4.3 -0.2 28.8 4.0 22

 Federal government equity in IBRD, etc.:

 23 Liab.: Rest of the world 1.5 1.5 1.2 1.3 1.2 1.3 1.5 1.4 1.1 1.4 23

 24 Asset: Federal government 1.5 1.5 1.2 1.3 1.2 1.3 1.5 1.4 1.1 1.4 24

 Federal Reserve Bank stock:

 25 Liab.: Monetary authority 0.2 0.1 0.2 0.1 0.1 0.2 0.2 0.4 0.3 0.3 25

 26 Asset: U.S.-chartered depository institutions 0.2 0.1 0.2 0.1 0.1 0.2 0.2 0.4 0.3 0.3 26

 Equity in govt.-sponsored enterprises:

 27 Liab.: Government-sponsored enterprises 0.8 0.5 1.3 2.0 -0.6 -2.5 -0.7 -0.2 1.6 1.8 27

 28 Asset: Nonfin. corporate business (Fannie Mae and FCS) -0.0 -0.0 -0.0 0.0 -0.1 -0.0 0.0 -0.0 0.0 0.0 28

 29 Nonfinancial noncorporate (FCS) -0.3 -0.6 -0.5 0.1 -0.7 -0.2 0.2 -0.1 0.3 0.2 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) 1.1 1.2 1.8 1.9 0.2 -2.3 -0.9 -0.1 1.3 1.6 31

 32 Credit unions (FHLB) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 32

 33 Life insurance companies (FHLB) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 33

 Holding company net transactions with subsidiaries:

 34 Liab.: U.S.-chartered depository institutions 15.1 18.0 23.2 23.0 10.4 17.3 14.6 36.8 30.1 15.5 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 0.0 0.0 0.0 0.0 36

 37 Finance companies 12.8 8.3 -5.3 -19.6 -1.9 -4.1 -6.4 -0.0 6.4 4.0 37

 38 Brokers and dealers 0.1 0.1 11.5 20.1 8.0 -18.5 -5.8 -2.6 8.0 0.7 38

 39 Rest of the world 0.5 -1.3 -3.5 -1.7 -1.8 -0.4 5.7 -5.8 2.3 7.8 39

 40 Asset: Holding companies 28.6 25.1 26.0 21.8 14.7 -5.7 8.1 28.4 46.7 28.1 40

 NFC investment in finance company subsidiaries:

 41 Liab.: Finance companies 4.7 2.1 -6.2 -3.0 0.4 5.5 2.1 2.0 -5.2 2.2 41

 42 Asset: Nonfinancial corporate business 4.7 2.1 -6.2 -3.0 0.4 5.5 2.1 2.0 -5.2 2.2 42

 Funding corporations’ investment in subsidiaries:

 43 Liab.: Foreign banking offices in U.S. 2.2 4.2 7.2 12.8 2.6 -1.8 -0.5 3.9 -6.6 -0.5 43

 44 Brokers and dealers 8.5 3.4 2.4 6.8 -0.2 5.4 10.7 19.2 17.2 16.1 44

 45 Asset: Funding corporations 10.7 7.5 9.6 19.6 2.5 3.6 10.2 23.0 10.6 15.6 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).
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58 Historical Annuals, 1985-1994,

F.231 Identified Miscellaneous Financial Claims - Part II

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 Nonofficial foreign currencies:

 1 Liab.: Rest of the world -0.1 -1.0 0.1 -0.3 -0.1 0.1 1.0 0.1 0.3 0.1 1

 2 Asset: Federal government -0.1 -1.0 0.1 -0.3 -0.1 0.1 1.0 0.1 0.3 0.1 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 4.5 3.6 -6.6 -1.3 6.9 4.8 1.0 -0.9 -7.0 -7.8 6

 7 Asset: U.S.-chartered depository institutions 4.5 3.6 -6.6 -1.3 6.9 4.8 1.0 -0.9 -7.0 -7.8 7

 Deferred and unpaid life insurance premiums:

 8 Liab.: Household sector 0.1 -1.3 1.2 0.4 0.8 0.1 -0.7 0.0 0.5 0.5 8

 9 Asset: Life insurance companies 0.1 -1.3 1.2 0.4 0.8 0.1 -0.7 0.0 0.5 0.5 9

 Life insurance company reserves:

 10 Liab.: Life insurance companies 4.1 4.1 5.3 6.3 5.3 5.6 5.9 8.5 7.6 8.1 10

 11 Accident and health 2.3 2.5 2.7 2.9 3.0 3.6 4.8 6.9 6.2 6.6 11

 12 Policy dividend accumulation 1.2 0.5 1.0 1.2 1.6 1.3 -0.2 0.6 0.5 0.1 12

 13 Contract claims 0.6 1.1 1.6 2.2 0.7 0.7 1.3 1.0 0.9 1.4 13

 14 Asset: Household sector 4.1 4.1 5.3 6.3 5.3 5.6 5.9 8.5 7.6 8.1 14

 Policy payables:

 15 Liab.: Property-casualty insurance companies 37.0 42.2 41.4 30.1 31.8 24.0 12.0 22.6 15.2 14.5 15

 16 Asset: Household sector 27.2 16.7 23.0 14.7 11.8 14.4 4.8 9.8 5.7 6.6 16

 17 Nonfinancial corporate business 4.3 18.9 23.5 15.0 14.3 13.4 2.2 13.7 6.9 5.9 17

 18 Nonfinancial noncorporate business 5.5 6.6 -5.1 0.4 5.6 -3.7 5.0 -0.9 2.6 2.0 18

 Unallocated insurance company contracts:

 19 Liab.: Life insurance companies 0.0 13.9 33.5 1.9 12.3 9.6 20.8 -19.6 -6.9 30.6 19

 20 Asset: Private pension funds 0.0 13.9 33.5 1.9 12.3 9.6 20.8 -19.6 -6.9 30.6 20

 Pension fund contributions payable:

 21 Liab.: Nonfinancial corporate business 5.8 0.0 1.5 -1.2 7.3 6.1 12.1 9.9 12.3 11.7 21

 22 Asset: Private pension funds 5.8 0.0 1.5 -1.2 7.3 6.1 12.1 9.9 12.3 11.7 22

 Securities borrowed (net):

 23 Liab.: Funding corporations 1.5 5.1 3.1 8.0 16.1 32.1 31.5 50.6 43.6 24.6 23

 24 Asset: Brokers and dealers 1.5 5.1 3.1 8.0 16.1 32.1 31.5 50.6 43.6 24.6 24

 Nonmarketable government securities:

 25 Liab.: Federal government 39.9 29.6 30.3 32.8 34.6 33.4 38.4 39.8 37.1 37.6 25

 26 Asset: Federal government retirement funds 39.9 29.6 30.3 32.8 34.6 33.4 38.4 39.8 37.1 37.6 26

 Retiree health care funds (2):

 27 Liab.: Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

 28 Asset: Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

 Claims of pension fund on sponsor (3):

 29 Liab.: Nonfinancial corporate business -12.1 30.5 44.6 28.1 21.3 54.1 23.9 72.8 6.9 -19.1 29

 30 State and local governments -10.0 -21.2 -17.8 9.4 15.3 22.0 26.0 28.9 31.3 37.8 30

 31 Federal government 19.4 32.9 30.5 29.8 30.2 32.2 29.5 30.0 30.1 29.9 31

 32 Asset: Private pension funds -12.1 30.5 44.6 28.1 21.3 54.1 23.9 72.8 6.9 -19.1 32

 33 State and local govt. retirement funds -10.0 -21.2 -17.8 9.4 15.3 22.0 26.0 28.9 31.3 37.8 33

 34 Federal government retirement funds 19.4 32.9 30.5 29.8 30.2 32.2 29.5 30.0 30.1 29.9 34

(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.

(3) Assets of the household sector.
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Historical Annuals, 1985-1994, 59

F.232 Unidentified Miscellaneous Financial Claims

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Net change in liabilities 349.4 -1.4 59.7 287.5 321.4 -58.7 67.9 29.2 5.4 4.8 1

 2 Nonfinancial corporate business 227.1 -20.1 36.0 201.1 198.6 -31.7 54.0 -11.9 -18.7 -18.9 2

 3 Nonfinancial noncorporate business 29.1 8.5 -6.4 17.4 20.9 -3.3 3.6 13.8 5.1 16.1 3

 4 Federal government 0.6 3.2 -9.4 9.6 16.2 -17.1 14.3 -0.1 0.7 3.9 4

 5 Rest of the world -9.1 -3.5 8.0 3.2 20.0 11.4 -8.7 15.6 32.1 1.9 5

 6 Monetary authority -0.1 -1.2 0.8 1.0 -0.8 -1.2 -0.6 -0.8 0.6 0.6 6

 7 U.S.-chartered depository institutions 28.1 9.7 -27.1 26.1 8.3 -2.9 -16.7 -11.8 -5.3 28.2 7

 8 Foreign banking offices in U.S. -1.3 -0.9 16.9 -1.5 73.1 -2.0 18.8 21.4 32.9 29.0 8

 9 Banks in U.S.-affiliated areas 1.7 -2.8 -1.9 0.1 0.3 0.8 -1.6 0.6 1.1 2.3 9

 10 Credit unions -0.1 0.2 0.9 0.4 -0.6 0.2 0.6 0.1 0.5 1.4 10

 11 Life insurance companies 9.3 -1.6 -0.9 0.9 3.3 -12.2 3.6 1.5 5.3 -0.5 11

 12 Government-sponsored enterprises 3.5 4.1 2.9 0.5 -0.0 2.3 6.9 13.5 0.5 -19.0 12

 13 Finance companies -3.4 -11.5 41.1 40.2 -0.8 6.4 19.8 -5.3 3.1 -4.3 13

 14 REITs 0.1 0.1 0.4 2.3 -1.4 -0.9 1.6 0.6 -0.1 2.9 14

 15 Brokers and dealers -1.4 2.9 -14.9 -26.0 -16.1 17.9 -2.9 -3.5 -9.7 -15.9 15

 16 Holding companies 6.1 13.3 6.4 8.1 4.9 -0.4 -15.8 10.0 14.0 -0.3 16

 17 Funding corporations 58.9 -1.7 6.9 4.0 -4.4 -26.0 -9.0 -14.6 -56.6 -22.5 17

 18 Net change in assets 166.5 111.7 189.3 304.6 190.0 53.2 115.3 47.5 209.2 249.3 18

 19 Nonfinancial corporate business 99.9 68.2 115.2 208.0 69.3 59.2 -2.4 19.1 177.3 75.1 19

 20 Nonfinancial noncorporate business -0.5 4.9 7.6 14.6 4.4 0.8 4.2 6.0 13.2 17.0 20

 21 State and local governments 6.0 1.7 3.9 -0.5 1.4 1.5 3.6 -3.3 -33.8 48.7 21

 22 Federal government 0.0 0.0 0.0 0.0 14.3 32.8 33.6 13.9 -5.3 1.7 22

 23 Rest of the world 5.0 -12.1 19.7 15.3 17.4 -7.3 48.4 14.8 27.8 9.3 23

 24 Monetary authority 1.0 1.7 2.2 0.4 7.4 -1.2 -2.3 -2.2 2.6 2.6 24

 25 U.S.-chartered depository institutions 17.9 8.2 8.0 21.9 1.5 16.8 -15.7 0.2 -4.3 61.4 25

 26 Foreign banking offices in U.S. 1.2 6.5 17.7 2.1 66.5 -24.1 14.8 34.9 34.7 38.5 26

 27 Banks in U.S.-affiliated areas -0.8 -2.1 -0.6 1.4 0.9 0.1 -0.5 -0.7 -0.4 -0.1 27

 28 Credit unions 1.2 2.9 -0.9 0.0 1.1 2.0 4.6 3.7 1.7 -3.4 28

 29 Life insurance companies 5.4 8.6 11.8 8.2 8.0 -4.8 11.4 -3.2 -1.4 5.6 29

 30 Private pension funds 22.4 5.7 -5.5 20.5 -14.1 -33.8 -1.5 -12.9 -12.6 -0.4 30

 31 State and local govt. retirement funds 0.1 0.2 -0.1 1.5 4.2 1.6 -3.2 -0.1 -0.4 0.5 31

 32 Money market mutual funds 0.3 1.6 0.8 0.3 2.9 -3.5 3.7 5.0 11.0 4.1 32

 33 Mutual funds 0.0 1.7 1.1 -0.3 3.6 1.7 -0.7 -5.2 0.3 2.5 33

 34 Government-sponsored enterprises -3.1 1.9 6.9 7.5 10.0 2.7 6.3 -12.3 5.6 -5.2 34

 35 Finance companies 2.1 1.0 6.9 0.4 -19.5 3.5 9.8 -10.7 -11.5 -17.0 35

 36 REITs 0.2 -0.4 0.9 0.8 1.6 -0.4 1.1 -2.3 1.4 1.8 36

 37 Brokers and dealers 8.1 5.1 -7.5 3.1 6.9 -3.1 2.3 0.8 5.0 4.2 37

 38 Holding companies -0.1 6.3 1.3 -0.7 2.2 8.9 -2.2 1.8 -1.8 2.5 38

 39 Discrepancy 182.9 -113.1 -129.6 -17.2 131.4 -111.9 -47.4 -18.4 -203.8 -244.4 39
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60 Historical Annuals, 1985-1994,

F.11 Sector Discrepancies

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 All sectors 127.0 -164.9 -182.2 -28.4 120.3 -227.3 -148.1 -104.2 -302.5 -271.4 1

 2 Household sector -31.1 -187.1 -131.9 -114.7 6.1 -213.5 -60.7 -67.1 -128.6 -89.4 2

 3 Nonfinancial corporate business 168.1 40.1 44.3 103.9 130.5 14.7 -16.1 5.6 -128.6 -50.1 3

 4 State and local governments -18.4 -29.1 -19.9 9.8 -26.9 -20.0 -0.7 -29.0 8.0 -68.3 4

 5 Federal government 15.6 23.2 -0.5 37.2 33.4 -21.0 10.9 29.8 9.3 0.2 5

 6 Rest of the world 15.0 26.2 -13.6 -22.4 45.5 31.4 -41.3 -51.1 0.9 -7.1 6

 7 Financial sectors -22.2 -38.3 -60.6 -42.2 -68.4 -18.9 -40.3 7.5 -63.6 -56.6 7

 8 Monetary authority -1.8 -2.6 -2.4 -0.0 -1.8 -2.6 -1.0 0.4 -0.7 -3.4 8

 9 U.S.-chartered depository institutions 13.2 1.3 -9.8 20.6 4.6 14.1 1.4 19.5 -39.0 -34.6 9

 10 Foreign banking officed in U.S. -0.2 -0.2 -0.2 0.0 -0.0 0.3 0.4 0.2 0.7 0.8 10

 11 Banks in U.S.-affiliated areas 0.3 -0.2 -0.8 -0.7 -0.3 -0.3 -0.6 -0.6 -0.7 0.3 11

 12 Credit unions -0.4 -1.1 -0.8 -0.9 -0.5 -0.3 0.2 1.2 1.0 2.0 12

 13 Property-casualty insurance companies -1.8 -4.3 -7.0 -14.9 -13.9 -8.4 -16.8 -16.8 -15.2 -35.5 13

 14 Life insurance companies -13.9 -13.6 -18.9 -13.6 -18.0 -12.7 -19.6 -4.6 -30.5 -10.8 14

 15 Mutual funds 1.1 4.0 -6.0 -4.4 -6.2 -1.2 2.6 3.1 4.1 -11.0 15

 16 Government-sponsored enterprises 2.5 0.4 0.5 0.8 -0.3 -3.6 -2.4 -1.6 0.3 -2.2 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 -5.9 -8.0 -8.6 -12.4 -10.8 -1.8 8.7 12.8 1.3 14.6 18

 19 REITs 1.1 2.6 0.6 2.1 -0.8 2.1 2.6 1.3 9.4 19.9 19

 20 Brokers and dealers -8.2 -9.5 -0.5 -12.0 -13.4 1.0 -12.5 -3.0 8.0 5.1 20

 21 Holding companies -8.0 -7.1 -6.7 -6.7 -6.9 -5.3 -3.4 -4.1 -2.2 -1.7 21

F.12 Instrument Discrepancies

Billions of dollars

 1 All types 127.0 -164.9 -182.2 -28.4 120.3 -227.3 -148.1 -104.2 -302.5 -271.4 1

 2 Treasury currency -0.2 -0.0 -0.1 -0.1 -0.3 0.2 -0.6 -0.2 -0.2 -0.2 2

 3 Foreign deposits 5.7 20.5 12.2 0.5 38.4 25.9 -24.0 -2.8 -5.8 42.9 3

 4 Net interbank transactions 0.9 -8.8 -4.2 1.2 0.0 -2.6 20.9 -5.7 6.3 5.1 4

 5 Security RPs -20.6 13.0 -19.1 8.2 11.6 -57.2 -43.7 3.9 40.0 58.9 5

 6 Mail floats 2.1 -9.5 0.4 2.5 6.2 11.8 -8.6 2.2 -2.8 -7.6 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 1.3 -0.6 -0.0 1.6 8.4 3.3 -13.1 0.7 -1.5 -4.8 8

 9 Private domestic 0.7 -8.9 0.4 0.8 -2.2 8.5 4.5 1.6 -1.3 -2.8 9

 10 Trade credit 5.6 5.2 -9.1 -26.2 0.0 -8.0 48.3 22.1 6.7 8.0 10

 11 Taxes payable 3.4 5.9 9.3 3.9 -1.3 7.9 -2.7 7.7 11.6 5.2 11

 12 Miscellaneous 182.9 -113.1 -129.6 -17.2 131.4 -111.9 -47.4 -18.4 -203.8 -244.4 12

 13 Nonfinancial -52.7 -78.2 -42.1 -1.2 -65.9 -93.3 -90.4 -113.0 -154.5 -139.3 13

 Nonfinancial components (sign reversed):

 14 Statistical discrepancy (NIPA) 51.3 76.7 40.5 -0.5 64.2 91.3 88.4 110.9 152.3 136.8 14

 15 Contr. for govt. soc. insur., U.S. affiliated areas 1.4 1.5 1.5 1.7 1.7 2.0 2.1 2.1 2.2 2.5 15
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Historical Annuals, 1985-1994, 61

L.100 Households and Nonprofit Organizations (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets 10753.6 11929.6 12694.1 13898.4 15239.2 15781.0 17227.0 18248.7 19582.3 20354.6 1

 2 Deposits 2550.9 2808.3 2943.9 3136.9 3292.1 3365.7 3368.0 3330.6 3265.0 3209.7 2

 3 Foreign deposits 7.8 8.8 9.8 10.7 11.9 13.4 14.6 15.6 15.8 18.8 3

 4 Checkable deposits and currency 344.8 461.9 460.8 460.5 462.2 450.8 505.0 616.4 667.5 636.3 4

 5 Time and savings deposits 2001.9 2102.5 2217.4 2392.7 2466.9 2512.1 2440.8 2333.0 2218.3 2181.4 5

 6 Money market fund shares 196.3 235.1 256.0 273.0 351.1 389.4 407.7 365.5 363.5 373.1 6

 7 Credit market instruments 967.4 1001.0 1176.4 1381.8 1479.6 1741.2 1824.9 1886.5 1995.5 2377.5 7

 8 Open market paper 56.5 56.1 55.3 93.6 87.9 93.7 58.5 52.7 65.0 69.7 8

 9 Treasury securities 282.2 270.9 308.2 393.5 394.9 504.0 535.5 627.3 673.2 871.0 9

 10 Savings bonds 79.8 93.3 101.1 109.6 117.7 126.2 138.1 157.3 171.9 179.9 10

 11 Bills and other Treasury securities 202.5 177.6 207.1 283.9 277.2 377.8 397.4 470.1 501.3 691.1 11

 12 Agency- and GSE-backed securities 23.4 23.3 32.1 51.8 74.8 117.3 115.5 114.4 58.3 187.4 12

 13 Municipal securities 395.1 410.9 516.6 586.0 613.3 647.7 701.8 672.2 640.8 594.1 13

 14 Corporate and foreign bonds 94.7 127.8 144.6 135.1 178.1 237.6 270.9 283.2 428.8 534.8 14

 15 Other loans and advances (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Mortgages 115.5 111.9 119.5 121.8 130.7 140.9 142.7 136.8 129.4 120.5 16

 17 Consumer credit (student loans) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Corporate equities (3) 1229.5 1494.0 1462.6 1757.1 2147.5 1961.4 2759.2 3094.2 3437.0 3294.2 18

 19 Mutual fund shares 213.8 378.7 424.5 439.1 513.0 511.5 645.0 799.4 1098.0 1096.6 19

 20 Security credit 35.1 44.0 39.1 40.9 53.2 62.4 87.0 76.2 102.3 109.0 20

 21 Life insurance reserves 264.3 282.6 309.5 335.7 365.3 391.7 418.6 447.7 484.8 520.3 21

 22 Pension entitlements (4) 2847.1 3130.2 3400.4 3701.0 4141.8 4435.1 4846.8 5342.6 5774.1 6095.9 22

 23 Claims of pension fund on sponsor 758.5 803.4 895.6 962.7 972.8 1124.8 1016.2 1202.2 1155.7 1196.7 23

 24 Funded pension entitlements 2088.6 2326.8 2504.8 2738.3 3169.0 3310.3 3830.6 4140.4 4618.4 4899.2 24

 25 Equity in noncorporate business 2498.9 2623.3 2741.8 2889.1 3012.9 3058.1 3012.9 2988.7 3129.4 3340.6 25

 26 Miscellaneous assets 146.7 167.4 195.8 216.7 233.9 253.8 264.5 282.8 296.1 310.8 26

 27 Total liabilities 2367.9 2632.1 2840.7 3140.2 3425.5 3693.6 3905.5 4113.0 4383.9 4712.1 27

 28 Credit market instruments 2277.7 2534.2 2752.5 3039.8 3309.2 3571.6 3758.5 3961.7 4203.5 4527.0 28

 29 Home mortgages (5) 1449.6 1648.3 1827.9 2054.2 2259.5 2488.8 2667.0 2840.0 2998.7 3165.3 29

 30 Consumer credit 610.6 666.4 698.6 745.2 809.3 824.4 815.6 824.8 886.2 1021.2 30

 31 Municipal securities 81.3 78.4 78.1 79.6 82.7 85.7 89.5 91.9 93.0 96.1 31

 32 Depository institution loans n.e.c. (6) 25.4 22.9 24.1 22.5 13.4 13.9 11.6 17.4 26.0 34.6 32

 33 Other loans and advances 72.2 75.0 74.3 75.7 74.3 81.7 89.1 95.3 96.6 107.7 33

 34 Commercial mortgages 38.6 43.2 49.5 62.7 70.0 77.2 85.8 92.3 103.0 102.2 34

 35 Security credit 50.7 57.4 41.8 43.5 42.5 38.8 55.1 53.5 76.1 75.1 35

 36 Trade payables 24.3 26.6 31.3 41.3 57.4 66.8 76.2 82.1 88.1 93.2 36

 37 Deferred and unpaid life insurance premiums 15.2 13.9 15.1 15.5 16.4 16.5 15.7 15.8 16.3 16.8 37

(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 public and private defined benefit and defined contribution pension plans and annuities, including those in IRAs, at life insurance companies. Excludes social security.

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

(6) 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.
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62 Historical Annuals, 1985-1994,

L.101 Nonfinancial Business (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets 2774.6 2978.8 3204.3 3634.5 3871.0 3980.8 4114.4 4303.8 4679.7 5012.1 1

 2 Foreign deposits 16.0 19.2 16.3 21.6 14.7 14.7 16.4 15.8 14.5 15.7 2

 3 Checkable deposits and currency 198.3 202.4 212.9 231.4 241.7 250.1 259.1 260.3 284.2 308.3 3

 4 Time and savings deposits 109.9 127.8 126.3 129.2 129.0 125.6 130.8 136.2 155.6 163.5 4

 5 Money market fund shares 14.5 18.1 18.9 15.6 16.2 26.3 31.5 47.3 44.8 52.2 5

 6 Security RPs 3.4 5.1 3.4 5.0 2.8 2.1 1.6 5.1 2.5 2.2 6

 7 Credit market instruments 230.4 230.5 222.0 251.5 272.6 242.9 268.3 296.0 308.5 332.9 7

 8 Commercial paper 10.5 10.2 15.0 13.6 14.3 13.8 14.7 17.0 19.4 18.8 8

 9 Treasury securities 46.9 51.1 41.6 38.3 63.4 50.2 55.7 73.6 62.4 69.2 9

 10 Agency- and GSE-backed securities 4.0 2.4 2.6 6.0 9.2 3.3 5.1 8.6 19.1 19.9 10

 11 Municipal securities 25.6 25.1 19.4 16.8 32.4 24.7 44.8 45.8 56.2 58.3 11

 12 Mortgages 101.0 94.8 89.4 116.0 89.5 83.8 85.0 85.2 74.1 80.2 12

 13 Consumer credit 42.5 47.0 54.0 60.8 63.8 67.1 63.0 65.7 77.2 86.6 13

 14 Mutual fund shares 10.8 15.7 12.8 10.6 11.7 9.7 14.8 21.1 29.8 31.1 14

 15 Trade receivables 803.1 816.3 881.6 984.2 1033.1 1065.0 1058.1 1092.8 1143.8 1232.0 15

 16 Miscellaneous assets 1388.1 1543.6 1710.0 1985.4 2149.3 2244.3 2333.6 2429.3 2696.2 2874.1 16

 17 Total liabilities 4473.0 4723.9 5051.0 5583.2 6002.8 6192.4 6270.1 6544.9 6809.4 7088.1 17

 18 Credit market instruments 2565.1 2860.8 3111.2 3399.3 3638.6 3767.9 3681.7 3675.6 3801.8 4014.1 18

 19 Commercial paper 72.2 62.9 73.8 85.7 107.1 116.9 98.5 107.1 117.8 139.2 19

 20 Municipal securities 127.0 117.1 116.2 116.4 115.5 115.2 114.0 118.3 124.9 131.7 20

 21 Corporate bonds 578.2 705.4 784.1 887.2 961.1 1008.2 1086.9 1154.5 1337.9 1428.5 21

 22 Depository institution loans n.e.c. 578.4 646.5 658.5 709.2 761.5 754.9 704.3 679.9 677.1 740.9 22

 23 Other loans and advances 332.1 368.5 403.2 447.7 500.6 562.1 503.2 510.2 480.3 521.2 23

 24 Mortgages 877.1 960.5 1075.4 1153.1 1192.8 1210.8 1174.7 1105.6 1063.9 1052.6 24

 25 Trade payables 547.0 529.9 579.3 640.9 665.0 693.3 717.9 757.5 795.6 880.4 25

 26 Taxes payable 60.6 66.1 71.7 71.1 69.7 70.3 61.4 68.5 72.1 73.1 26

 27 Miscellaneous liabilities 1300.3 1267.1 1288.8 1471.9 1629.5 1660.9 1809.1 2043.3 2139.9 2120.5 27

(1) Combined statement for nonfinancial corporate business and nonfinancial noncorporate business.
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Historical Annuals, 1985-1994, 63

L.102 Nonfinancial Corporate Business

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets 2473.5 2642.5 2873.4 3252.7 3481.2 3589.3 3714.9 3877.7 4225.9 4495.8 1

 2 Foreign deposits 16.0 19.2 16.3 21.6 14.7 14.7 16.4 15.8 14.5 15.7 2

 3 Checkable deposits and currency 126.5 128.1 137.7 151.6 160.7 166.9 173.8 169.6 190.2 202.1 3

 4 Time and savings deposits 69.3 85.5 85.9 82.3 80.6 74.6 77.6 76.0 92.0 96.4 4

 5 Money market fund shares 14.5 14.9 15.8 10.3 10.4 19.7 24.1 37.6 33.9 37.1 5

 6 Security RPs 3.4 5.1 3.4 5.0 2.8 2.1 1.6 5.1 2.5 2.2 6

 7 Credit market instruments 180.7 175.1 174.3 193.3 225.5 199.4 230.0 257.8 271.5 289.2 7

 8 Commercial paper 10.5 10.2 15.0 13.6 14.3 13.8 14.7 17.0 19.4 18.8 8

 9 Treasury securities 41.1 40.3 31.8 27.9 51.4 37.6 43.4 60.6 48.8 50.8 9

 10 Agency- and GSE-backed securities 4.0 2.4 2.6 6.0 9.2 3.3 5.1 8.6 19.1 19.9 10

 11 Municipal securities 25.6 25.1 19.4 16.8 32.4 24.7 44.8 45.8 54.7 56.7 11

 12 Mortgages 57.0 50.2 51.5 68.1 54.4 52.8 59.0 60.0 52.3 56.4 12

 13 Consumer credit 42.5 47.0 54.0 60.8 63.8 67.1 63.0 65.7 77.2 86.6 13

 14 Mutual fund shares 10.8 15.7 12.8 10.6 11.7 9.7 14.8 21.1 29.8 31.1 14

 15 Trade receivables 739.3 741.5 805.3 895.9 938.0 967.2 961.4 988.9 1035.0 1107.0 15

 16 Miscellaneous assets 1312.9 1457.5 1621.9 1882.1 2036.8 2135.1 2215.1 2305.7 2556.4 2715.2 16

 17 U.S. direct investment abroad (1) 377.1 402.3 462.5 484.7 497.9 556.2 580.3 586.4 607.1 685.6 17

 18 Insurance receivables 64.2 83.1 106.6 121.6 136.0 149.3 151.5 165.2 172.1 178.0 18

 19 Equity in GSEs 0.3 0.3 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 19

 20 Investment in finance company subs. 16.7 18.7 12.5 9.5 9.9 15.5 17.6 19.6 14.4 16.6 20

 21 Other 854.6 953.1 1040.0 1266.1 1392.9 1414.0 1465.5 1534.4 1762.6 1834.9 21

 22 Total liabilities 3321.0 3509.6 3784.5 4201.8 4542.8 4739.8 4840.4 5120.5 5400.0 5639.8 22

 23 Credit market instruments 1632.1 1860.6 2053.0 2257.3 2448.4 2577.4 2519.7 2540.0 2686.9 2884.8 23

 24 Commercial paper 72.2 62.9 73.8 85.7 107.1 116.9 98.5 107.1 117.8 139.2 24

 25 Municipal securities (2) 127.0 117.1 116.2 116.4 115.5 115.2 114.0 118.3 124.9 131.7 25

 26 Corporate bonds (1) 578.2 705.4 784.1 887.2 961.1 1008.2 1086.9 1154.5 1337.9 1428.5 26

 27 Depository institution loans n.e.c. 447.0 514.5 517.8 559.2 598.8 588.2 537.6 510.4 503.2 551.7 27

 28 Other loans and advances (3) 238.2 275.5 308.4 353.8 402.7 463.1 405.6 411.8 384.8 422.0 28

 29 Mortgages 169.3 185.3 252.7 255.0 263.2 285.9 277.1 237.9 218.3 211.6 29

 30 Trade payables 480.4 478.5 522.8 577.0 598.5 626.9 650.1 683.5 720.0 797.4 30

 31 Taxes payable 39.0 42.8 47.9 44.4 38.3 38.3 28.9 35.3 40.7 40.3 31

 32 Miscellaneous liabilities 1169.5 1127.7 1160.8 1323.2 1457.6 1497.2 1641.7 1861.7 1952.3 1917.2 32

 33 Foreign direct investment in U.S. 210.9 254.1 316.7 394.3 454.6 513.3 511.3 523.6 545.3 598.1 33

 34 Pension fund contributions payable 18.7 18.7 20.3 19.0 26.3 32.3 44.4 54.3 66.6 78.3 34

 35 Claims of pension fund on sponsor -24.0 10.0 83.3 142.5 89.0 174.6 85.2 122.9 71.0 37.7 35

 36 Other 963.9 844.8 740.6 767.3 887.7 777.1 1000.9 1160.8 1269.4 1203.2 36

 Memo:

 37 Trade receivables net of payables 258.9 263.0 282.5 318.9 339.4 340.3 311.3 305.5 315.0 309.6 37

 38 Market value of equities 1916.9 2240.8 2286.7 2558.1 3138.6 2955.8 3998.5 4361.2 4842.3 4796.8 38

 39 Securities and mortgages 874.6 1007.8 1153.0 1258.6 1339.8 1409.3 1478.0 1510.7 1681.1 1771.8 39

 40 Loans and short-term paper 757.5 852.9 900.0 998.7 1108.6 1168.2 1041.7 1029.3 1005.9 1113.0 40

 41 Total short-term liabilities (4) 1276.9 1374.1 1470.7 1620.0 1745.4 1833.3 1720.7 1748.2 1766.6 1950.7 41

 42 Total liquid assets (5) 321.7 346.4 340.7 345.8 388.2 367.1 416.5 457.2 504.9 530.7 42

 Analytical measures (percent)

 43 Long-term debt/credit market debt 53.6 54.2 56.2 55.8 54.7 54.7 58.7 59.5 62.6 61.4 43

 44 Short-term debt/credit market debt 46.4 45.8 43.8 44.2 45.3 45.3 41.3 40.5 37.4 38.6 44

 45 Liquid assets/short-term liabilities 25.2 25.2 23.2 21.3 22.2 20.0 24.2 26.2 28.6 27.2 45

(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.
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64 Historical Annuals, 1985-1994,

L.103 Nonfinancial Noncorporate Business

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets 301.1 336.3 330.9 381.8 389.8 391.5 399.5 426.2 453.8 516.2 1

 2 Checkable deposits and currency 71.8 74.3 75.2 79.8 81.0 83.2 85.3 90.7 93.9 106.3 2

 3 Time and savings deposits 40.6 42.3 40.4 47.0 48.4 51.0 53.2 60.2 63.6 67.2 3

 4 Money market fund shares 0.0 3.2 3.1 5.3 5.8 6.7 7.4 9.7 10.9 15.1 4

 5 Credit market instruments 49.7 55.4 47.7 58.2 47.1 43.6 38.3 38.1 36.9 43.7 5

 6 Treasury securities 5.8 10.8 9.8 10.3 11.9 12.5 12.2 13.0 13.6 18.3 6

 7 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.5 1.6 7

 8 Mortgages 44.0 44.7 37.9 47.8 35.1 31.1 26.0 25.2 21.9 23.8 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 63.8 74.8 76.3 88.3 95.1 97.8 96.7 103.8 108.7 125.0 10

 11 Miscellaneous assets 75.2 86.1 88.2 103.3 112.6 109.2 118.6 123.6 139.7 158.9 11

 12 Insurance receivables 56.3 62.9 57.8 58.2 63.8 60.0 65.0 64.1 66.7 68.7 12

 13 Equity investment in GSEs (1) 4.5 3.9 3.5 3.5 2.8 2.4 2.6 2.5 2.8 3.0 13

 14 Other 14.4 19.3 27.0 41.6 46.0 46.8 51.0 57.0 70.2 87.2 14

 15 Total liabilities 1152.0 1214.3 1266.5 1381.3 1459.9 1452.6 1429.6 1424.4 1409.4 1448.3 15

 16 Credit market instruments 933.0 1000.2 1058.2 1141.9 1190.2 1190.5 1162.0 1135.5 1114.9 1129.3 16

 17 Depository institution loans n.e.c. 131.4 132.0 140.7 150.0 162.7 166.7 166.7 169.5 173.9 189.2 17

 18 Other loans and advances 93.8 93.0 94.8 93.8 97.9 98.9 97.6 98.4 95.5 99.2 18

 19 Mortgages 707.8 775.2 822.7 898.1 929.6 924.9 897.6 867.6 845.5 840.9 19

 20 Trade payables 66.6 51.4 56.5 63.9 66.5 66.4 67.8 74.1 75.5 83.0 20

 21 Taxes payable 21.6 23.3 23.9 26.8 31.4 32.0 32.5 33.1 31.4 32.8 21

 22 Miscellaneous liabilities 130.8 139.4 127.9 148.7 171.8 163.7 167.4 181.7 187.6 203.3 22

(1) Equity in the Farm Credit System.
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Historical Annuals, 1985-1994, 65

L.104 State and Local Governments (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets 686.2 771.7 856.4 900.3 970.9 1019.8 1082.9 1091.0 1111.6 1118.4 1

 2 Checkable deposits and currency 14.8 17.3 16.5 24.9 25.2 24.0 30.4 31.6 33.6 35.3 2

 3 Time and savings deposits 65.9 68.2 75.3 73.4 70.6 67.5 56.5 50.3 48.8 55.3 3

 4 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.8 5.9 4

 5 Security RPs 74.1 79.0 90.9 89.9 106.0 111.8 118.4 123.1 133.7 118.6 5

 6 Credit market instruments 455.6 525.8 583.6 618.6 664.1 703.4 750.6 752.3 784.9 729.9 6

 7 Open market paper 0.0 0.0 0.2 0.7 1.6 4.0 9.0 14.1 17.9 22.3 7

 8 Treasury securities 258.7 315.7 357.6 364.3 369.1 410.6 435.5 418.2 447.8 370.0 8

 9 Agency- and GSE-backed securities 105.1 103.7 108.9 131.7 162.6 151.0 162.7 174.9 175.0 186.6 9

 10 Municipal securities 9.6 10.4 10.2 10.3 10.8 11.6 11.6 10.5 9.5 8.6 10

 11 Corporate and foreign bonds 8.0 10.0 12.0 13.0 15.0 16.0 18.0 20.9 26.5 31.9 11

 12 Mortgages 74.2 86.0 94.7 98.6 105.0 110.2 113.7 113.7 108.3 110.5 12

 13 Corporate equities 0.0 0.2 0.7 1.7 3.3 4.8 6.3 7.8 9.3 10.6 13

 14 Mutual fund shares 0.0 0.0 0.0 0.1 1.5 4.8 9.4 14.9 21.3 29.1 14

 15 Trade receivables 41.3 42.2 46.0 50.8 54.2 56.7 59.1 62.2 65.8 71.2 15

 16 Taxes receivable 26.8 29.5 30.0 33.7 37.1 36.6 38.4 38.3 36.0 37.5 16

 17 Miscellaneous assets 7.7 9.4 13.3 7.4 8.8 10.3 13.9 10.6 -23.6 24.9 17

 18 Total liabilities 825.7 881.2 970.5 1010.5 1103.8 1199.0 1256.0 1404.3 1452.8 1467.8 18

 19 Credit market instruments 677.9 752.1 842.6 893.0 940.4 987.4 1078.6 1095.1 1153.0 1107.5 19

 20 Municipal securities 651.1 724.9 817.7 884.0 931.6 977.8 1068.6 1085.2 1143.9 1097.9 20

 21 Short-term (2) 20.5 20.4 19.6 21.5 24.8 27.8 34.7 33.6 35.4 33.2 21

 22 Long-term 630.6 704.5 798.1 862.5 906.8 950.0 1033.9 1051.6 1108.5 1064.7 22

 23 U.S. government loans 26.8 27.3 24.9 9.0 8.8 9.6 10.0 9.9 9.2 9.6 23

 24 Trade payables 98.2 107.7 117.8 128.6 140.4 153.3 167.0 181.3 196.3 212.3 24

 25 Claims of pension fund on sponsor (3) 49.6 21.3 10.1 -11.1 23.0 58.3 10.4 127.8 103.5 148.0 25

(1) Data for employee retirement funds are shown in table L.118.

(2) Debt with original maturity of 13 months or less.

(3) Included in miscellaneous liabilities.
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66 Historical Annuals, 1985-1994,

L.105 Federal Government

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets 373.7 387.6 372.2 362.4 370.2 442.4 500.7 476.4 483.8 454.1 1

 2 U.S. official reserve assets 25.1 28.0 29.1 27.7 32.3 39.7 39.1 38.8 40.2 41.4 2

 3 Checkable deposits and currency 34.0 32.8 21.4 32.1 25.6 25.4 50.9 31.7 52.2 27.8 3

 4 Time and savings deposits 1.2 1.4 1.7 1.4 1.3 1.4 1.6 0.9 0.8 0.7 4

 5 Credit market instruments 251.2 258.0 242.8 217.4 209.4 243.1 251.0 239.0 227.5 222.1 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 197.9 203.6 193.8 169.3 162.1 160.2 152.7 152.7 142.2 144.2 8

 9 Mortgages 53.3 54.4 49.1 48.0 47.3 82.9 98.3 86.4 85.0 71.0 9

 10 Consumer credit (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.4 6.9 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 35.0 32.6 40.6 40.7 43.9 42.1 37.5 30.8 28.4 24.7 12

 13 Taxes receivable 11.3 18.4 19.3 24.5 23.8 22.5 16.4 15.5 18.9 18.6 13

 14 Miscellaneous assets 15.8 16.3 17.4 18.6 34.0 68.1 104.2 119.6 115.7 119.0 14

 15 Total liabilities 2594.2 2896.0 3111.6 3342.5 3568.6 3878.3 4218.6 4589.7 4917.4 5142.8 15

 16 SDR allocations 5.4 6.0 7.0 6.6 6.4 7.0 7.0 6.7 6.7 7.2 16

 17 SDR certificates 4.7 5.0 5.0 5.0 8.5 10.0 10.0 8.0 8.0 8.0 17

 18 Treasury currency 13.3 13.8 14.2 14.7 15.3 16.3 16.3 16.5 17.0 17.6 18

 19 Credit market instruments 1589.9 1805.9 1949.8 2104.9 2251.2 2498.1 2776.4 3080.3 3336.5 3492.3 19

 20 Savings bonds 79.8 93.3 101.1 109.6 117.7 126.2 138.1 157.3 171.9 179.9 20

 21 Treasury bills 399.9 426.7 389.5 414.0 430.6 527.4 590.4 657.7 714.6 733.8 21

 22 Other Treasury securities 1106.9 1282.2 1454.0 1558.8 1678.7 1812.1 2029.3 2246.6 2423.3 2551.9 22

 23 Budget agency securities 3.2 3.6 5.1 22.6 24.2 32.4 18.6 18.8 26.6 26.7 23

 24 Multifamily residential mortgages 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 Trade payables 58.2 72.8 80.3 88.2 96.8 91.1 85.5 82.7 85.7 85.5 25

 26 Insurance reserves 17.8 18.9 20.1 21.2 22.4 23.6 24.8 26.2 27.6 28.9 26

 27 Miscellaneous liabilities 905.0 973.7 1035.3 1101.8 1167.8 1232.2 1298.6 1369.1 1436.0 1503.3 27

 28 Nonmarketable securities held by pension plans (3) 172.1 201.7 232.0 264.7 299.3 332.6 371.0 410.8 447.9 485.5 28

 29 Claims of pension fund on sponsor 732.9 772.0 802.2 831.3 860.8 891.9 920.7 951.4 981.3 1011.0 29

 30 Other 0.0 0.0 1.2 5.8 7.8 7.7 7.0 6.9 6.8 6.8 30

(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) 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.
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Historical Annuals, 1985-1994, 67

L.106 Rest of the World

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets 973.5 1186.9 1361.5 1587.6 1874.3 1983.9 2138.5 2301.4 2624.9 2872.3 1

 2 SDR allocations 5.4 6.0 7.0 6.6 6.4 7.0 7.0 6.7 6.7 7.2 2

 3 Net interbank assets -14.3 0.1 41.1 45.3 35.9 61.2 46.9 84.3 132.2 232.8 3

 4 U.S. checkable deposits and currency 54.4 59.6 62.0 65.6 69.5 85.8 97.2 109.8 126.2 148.6 4

 5 U.S. time deposits 33.7 31.3 32.1 35.5 40.2 39.5 39.3 38.2 45.1 46.6 5

 6 Money market fund shares 0.0 0.0 0.0 0.0 0.4 1.2 2.0 2.7 3.5 4.3 6

 7 Security RPs (net) 7.5 10.9 13.1 13.0 23.1 19.7 20.9 41.7 58.6 46.6 7

 8 Credit market instruments 419.9 536.4 586.5 689.1 815.8 881.7 909.6 983.1 1095.0 1162.8 8

 9 Open market paper 8.2 8.0 9.0 11.8 12.7 10.7 11.3 12.9 18.8 24.9 9

 10 Treasury securities 226.4 269.4 296.3 353.8 423.7 438.4 476.3 520.3 594.6 632.6 10

 11 Official 138.4 173.3 213.7 253.0 257.2 285.9 306.0 322.6 373.1 396.9 11

 12 Private 88.0 96.1 82.6 100.9 166.5 152.5 170.3 197.7 221.5 235.7 12

 13 Agency- and GSE-backed securities 17.5 25.0 28.3 34.2 47.2 49.4 58.5 71.4 103.2 106.8 13

 14 Official 6.6 5.6 6.8 8.0 6.4 5.3 5.2 6.7 8.6 10.3 14

 15 Private 10.9 19.4 21.5 26.2 40.8 44.1 53.3 64.6 94.6 96.5 15

 16 Municipal securities 1.2 1.4 1.6 1.8 2.0 2.2 2.4 2.6 2.8 3.0 16

 17 U.S. corporate bonds (1) 110.7 154.9 173.2 187.4 207.8 208.7 236.0 246.0 261.4 273.5 17

 18 Loans to U.S. corporate business 56.0 77.6 78.1 100.0 122.3 172.4 125.1 129.9 114.2 122.1 18

 19 U.S. corporate equities 136.8 183.2 189.0 213.4 275.7 242.6 291.2 308.8 341.0 352.8 19

 20 Mutual fund shares 0.0 0.0 0.0 0.0 0.0 0.0 5.8 17.4 29.0 40.6 20

 21 Trade receivables 33.6 35.0 35.1 37.2 39.8 46.1 44.4 46.0 47.0 48.6 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 296.4 324.6 395.5 481.9 567.3 599.1 674.3 662.6 740.6 781.5 23

 24 Foreign direct investment in U.S. (2) 247.2 284.7 334.6 401.8 467.9 505.3 533.4 540.3 593.3 618.0 24

 25 Other 49.2 39.9 61.0 80.2 99.4 93.8 140.9 122.3 147.3 163.6 25

 26 Total liabilities 905.0 984.3 1068.2 1184.1 1325.5 1453.6 1475.2 1489.0 1694.0 1847.0 26

 27 U.S. official reserve assets (3) 32.1 37.5 34.7 36.7 63.6 72.3 66.7 60.3 62.4 63.3 27

 28 U.S. private deposits 148.5 179.9 213.3 228.7 266.8 297.9 273.5 267.7 271.8 373.9 28

 29 Credit market instruments 242.5 251.9 259.0 269.8 287.9 318.2 350.4 372.4 468.2 443.1 29

 30 Commercial paper 33.9 37.4 41.2 49.9 63.0 75.3 82.1 78.4 68.8 42.7 30

 31 Bonds 75.0 85.7 93.9 104.2 116.9 144.7 176.8 200.8 309.7 310.4 31

 32 Depository institution loans n.e.c. 27.9 26.9 23.3 21.5 21.4 18.5 21.6 23.9 24.6 26.1 32

 33 Official 6.2 6.2 5.3 4.8 3.4 2.8 2.4 3.3 2.4 2.2 33

 34 Banks 9.7 10.7 7.8 7.8 8.6 5.9 6.9 7.6 8.8 8.8 34

 35 Other 12.1 10.0 10.2 8.9 9.4 9.8 12.3 13.0 13.5 15.2 35

 36 Other loans and advances 105.6 101.8 100.6 94.1 86.5 79.7 69.9 69.3 65.2 63.9 36

 37 Trade payables 17.5 16.8 19.3 27.0 29.8 28.6 31.6 33.0 37.1 40.8 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 464.4 498.3 541.9 621.8 677.5 736.5 753.0 755.6 854.5 925.9 39

 40 U.S. equity in IBRD, etc. 13.9 15.4 16.6 17.9 19.1 20.4 21.9 23.3 24.5 25.9 40

 41 Nonofficial foreign currencies 1.9 0.9 0.8 0.7 0.6 0.6 1.6 1.7 1.9 2.0 41

 42 U.S. direct investment abroad (1,2) 407.8 437.5 506.6 535.9 570.7 629.8 657.7 674.4 723.5 786.6 42

 43 Investment by holding companies 16.6 15.3 11.8 10.1 8.3 7.9 10.3 4.5 6.8 14.6 43

 44 Other 24.2 29.2 6.1 57.2 78.9 77.9 61.5 51.7 97.8 96.8 44

 Memo:

 45 Market value of foreign equities 44.4 72.4 94.7 128.7 197.3 197.6 279.0 314.3 543.9 626.8 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).
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68 Historical Annuals, 1985-1994,

L.107 Financial Business (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets 9542.4 10874.2 11917.2 12981.8 14248.5 14944.3 16000.3 17310.8 18922.4 20226.3 1

 2 U.S. official reserve assets 18.1 20.5 16.7 20.1 42.3 43.6 38.6 32.5 33.3 33.0 2

 3 SDR certificates 4.7 5.0 5.0 5.0 8.5 10.0 10.0 8.0 8.0 8.0 3

 4 Treasury currency 17.1 17.6 18.2 18.8 19.6 20.4 21.0 21.4 22.1 23.0 4

 5 Foreign deposits 18.9 22.0 21.4 29.3 26.1 26.7 21.4 20.3 10.0 15.7 5

 6 Net interbank assets 58.2 76.6 71.3 70.4 68.6 73.7 64.0 67.9 68.6 68.4 6

 7 Checkable deposits and currency 28.1 33.8 34.4 40.4 39.2 53.2 41.0 41.4 47.5 47.8 7

 8 Time and savings deposits 128.9 139.7 137.4 150.3 190.3 149.9 170.3 150.2 146.3 149.6 8

 9 Money market fund shares 31.6 37.3 38.9 46.4 57.1 76.4 93.8 123.8 146.1 164.6 9

 10 Federal funds and security RPs 83.4 109.2 106.3 119.6 157.5 187.5 210.1 215.9 218.2 259.3 10

 11 Credit market instruments 6287.5 7249.8 8003.4 8698.0 9388.6 9944.7 10408.0 11047.2 11868.8 12548.5 11

 12 Open market paper 283.4 310.6 358.4 393.6 462.8 487.7 472.4 482.3 458.9 487.8 12

 13 Treasury securities 772.4 895.1 940.9 932.4 975.9 1062.7 1254.8 1422.1 1531.9 1522.9 13

 14 Agency- and GSE-backed securities 478.9 653.9 805.8 892.3 973.3 1124.9 1236.1 1365.2 1551.9 1699.5 14

 15 Municipal securities 428.0 472.7 464.2 465.1 471.3 492.5 511.4 564.3 652.4 661.7 15

 16 Corporate and foreign bonds 673.0 823.7 952.1 1112.0 1202.7 1270.5 1390.7 1546.5 1792.3 1875.6 16

 17 Depository institution loans n.e.c. 678.0 756.2 758.7 808.3 864.7 856.2 811.0 793.0 786.5 849.1 17

 18 Other loans and advances 381.8 410.6 475.5 520.9 539.1 529.6 486.4 493.4 508.5 567.6 18

 19 Mortgages 2023.9 2307.8 2603.2 2888.9 3153.4 3363.3 3492.5 3621.2 3777.8 3956.6 19

 20 Consumer credit 568.1 619.3 644.6 684.4 745.5 757.3 752.6 759.0 808.6 927.7 20

 21 Corporate equities 904.1 1004.8 1058.0 1103.4 1386.5 1322.6 1791.1 2011.2 2509.6 2659.9 21

 22 Mutual fund shares 21.3 32.1 42.8 50.7 63.3 82.3 94.4 139.7 197.2 280.0 22

 23 Trade receivables 29.6 35.4 40.7 49.3 54.0 64.7 70.6 74.8 79.1 88.1 23

 24 Security credit 96.1 97.1 76.2 77.4 80.7 75.0 101.9 141.5 176.8 170.0 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 1814.7 1993.4 2246.6 2502.7 2666.2 2813.6 2864.1 3215.1 3390.9 3710.5 26

 27 Total liabilities 9283.9 10590.9 11579.5 12594.1 13825.1 14554.7 15540.8 16787.8 18275.9 19617.6 27

 28 Net interbank liabilities -0.9 21.6 52.2 56.3 46.0 74.6 72.4 107.8 162.3 268.3 28

 29 Checkable deposits and currency 713.5 838.9 842.9 885.1 892.2 934.7 1022.5 1134.7 1252.0 1240.2 29

 30 Time and savings deposits 2341.6 2471.0 2590.2 2782.5 2898.3 2896.1 2839.2 2708.8 2614.9 2597.1 30

 31 Money market fund shares 242.4 290.6 313.8 335.0 424.7 493.3 535.0 539.5 559.6 600.1 31

 32 Federal funds and security RPs 235.6 281.7 277.7 303.2 376.7 351.2 337.5 377.0 444.4 516.9 32

 33 Credit market instruments 1259.0 1596.6 1899.7 2149.5 2402.8 2613.8 2766.8 3018.9 3317.2 3789.7 33

 34 Open market paper 252.4 284.6 322.9 377.7 409.1 417.7 385.3 393.5 393.4 441.6 34

 35 Agency- and GSE-backed securities 625.7 804.6 972.6 1093.4 1242.9 1413.6 1559.4 1715.7 1880.9 2173.4 35

 36 Corporate and foreign bonds 233.1 325.4 404.0 456.1 525.5 580.0 651.9 741.2 861.4 976.9 36

 37 Depository institution loans n.e.c. 46.2 59.9 52.8 55.1 68.4 69.0 73.4 71.8 58.8 47.5 37

 38 Other loans and advances 99.0 119.3 144.3 163.7 153.3 129.2 91.9 91.3 113.7 131.6 38

 39 Mortgages 2.5 2.8 3.1 3.4 3.7 4.3 4.8 5.4 8.9 18.7 39

 40 Mutual fund shares 245.9 426.5 480.2 500.5 589.6 608.4 769.5 992.5 1375.4 1477.3 40

 41 Trade payables 8.0 7.6 6.8 8.5 8.0 6.1 6.8 7.4 10.1 9.1 41

 42 Security credit 80.5 83.6 73.5 74.8 91.4 98.6 133.8 164.2 202.9 203.9 42

 43 Life insurance reserves 246.5 263.7 289.5 314.4 342.8 368.1 393.8 421.5 457.2 491.5 43

 44 Pension entitlements 2847.1 3130.2 3400.4 3701.0 4141.8 4435.1 4846.8 5342.6 5774.1 6095.9 44

 45 Taxes payable 8.8 10.3 8.3 9.7 9.0 10.6 11.6 11.8 13.9 13.1 45

 46 Miscellaneous liabilities 1055.9 1168.6 1344.5 1473.5 1601.8 1664.1 1805.0 1961.1 2092.0 2314.5 46

 Memo:

 47 Market value of corporate equities 309.1 369.0 328.9 388.9 477.0 377.9 570.3 746.5 910.7 893.9 47

 48 Equity in noncorporate business 3.9 5.5 5.3 5.6 4.7 4.0 4.7 5.1 6.2 5.1 48

(1) Sum of financial sectors shown on tables L.108 and L.110 through L.130.
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Historical Annuals, 1985-1994, 69

L.108 Monetary Authority (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets 243.2 275.1 285.8 304.9 314.7 342.3 364.6 381.7 423.8 452.1 1

 2 U.S. official reserve assets 18.1 20.5 16.7 20.1 42.3 43.6 38.6 32.5 33.3 33.0 2

 3 SDR certificates 4.7 5.0 5.0 5.0 8.5 10.0 10.0 8.0 8.0 8.0 3

 4 Treasury currency 17.1 17.6 18.2 18.8 19.6 20.4 21.0 21.4 22.1 23.0 4

 5 Federal Reserve float (2) 1.0 1.3 0.8 1.3 1.1 2.2 0.7 3.3 0.9 -0.7 5

 6 Interbank loans (2) 3.1 1.6 3.8 2.2 0.5 0.2 0.2 0.7 0.1 0.2 6

 7 Discount window (3) 3.1 1.6 3.8 2.2 0.5 0.2 0.2 0.7 0.1 0.2 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 5.2 16.0 5.0 6.9 2.1 18.4 15.9 8.1 13.2 10.6 9

 10 Credit market instruments 186.0 205.5 226.5 241.2 233.3 241.4 272.5 300.4 336.7 368.2 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 177.8 197.6 218.9 233.7 226.8 235.1 266.5 295.0 332.0 364.5 12

 13 Treasury bills 85.4 103.8 107.7 112.8 104.6 112.5 132.6 141.8 160.4 177.4 13

 14 Other Treasury securities 92.4 93.9 111.2 120.9 122.2 122.6 133.9 153.2 171.6 187.1 14

 15 Agency- and GSE-backed securities 8.2 7.8 7.6 7.6 6.5 6.3 6.0 5.4 4.6 3.6 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 8.2 7.8 7.6 7.6 6.5 6.3 6.0 5.4 4.6 3.6 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 8.0 7.7 9.9 9.4 7.2 6.0 5.6 7.4 9.6 9.8 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 8.0 7.7 9.9 9.4 7.2 6.0 5.6 7.4 9.6 9.8 30

 31 Total liabilities 241.4 273.2 283.8 302.8 312.5 339.9 362.0 378.7 420.4 448.4 31

 32 Depository institution reserves 28.6 48.1 41.8 39.3 38.3 38.7 29.4 32.1 35.0 30.8 32

 33 Vault cash of depository institutions 25.5 25.7 24.9 27.6 28.7 32.6 33.6 31.9 32.7 38.1 33

 34 Checkable deposits and currency 182.4 195.7 212.4 230.1 240.3 264.4 295.1 311.3 348.5 374.2 34

 35 Due to federal government 9.9 8.0 5.8 9.1 6.7 9.5 18.3 8.0 15.2 7.5 35

 36 Treasury cash holdings 0.6 0.4 0.4 0.4 0.5 0.6 0.6 0.5 0.4 0.3 36

 37 Treasury general deposit account 9.4 7.6 5.3 8.7 6.2 9.0 17.7 7.5 14.8 7.2 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 0.5 0.4 0.3 0.4 0.6 0.4 1.0 0.2 0.4 0.3 39

 40 Due to government-sponsored enterprises 0.0 0.9 1.0 0.5 1.2 0.2 1.6 0.2 0.3 0.8 40

 41 Currency outside banks 171.9 186.3 205.3 220.1 231.8 254.4 274.2 302.8 332.6 365.7 41

 42 Security RPs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 42

 43 Miscellaneous liabilities 4.8 3.7 4.7 5.8 5.2 4.2 3.8 3.4 4.3 5.2 43

 44 Federal Reserve Bank stock 1.8 1.9 2.0 2.1 2.2 2.4 2.7 3.1 3.4 3.7 44

 45 Other 3.1 1.9 2.7 3.7 2.9 1.8 1.2 0.4 0.9 1.6 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.
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70 Historical Annuals, 1985-1994,

L.109 Private Depository Institutions (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets 3507.2 3843.9 4128.3 4457.5 4584.8 4525.5 4470.9 4589.4 4778.2 5093.3 1

 2 Vault cash 25.5 25.7 24.9 27.6 28.7 32.6 33.6 31.9 32.7 38.1 2

 3 Reserves at Federal Reserve 28.6 48.1 41.8 39.3 38.3 38.7 29.4 32.1 35.0 30.8 3

 4 Credit market instruments 3162.9 3470.8 3741.4 4014.2 4094.0 4092.4 4025.0 4056.7 4197.6 4394.2 4

 5 Open market paper 13.4 14.6 15.9 16.0 15.7 15.7 14.5 12.7 9.8 8.0 5

 6 Treasury securities 229.3 243.0 252.4 233.8 203.3 205.8 270.5 342.1 367.7 335.0 6

 7 Agency- and GSE-backed securities 229.1 315.2 387.9 437.6 443.3 483.0 498.0 548.0 603.7 624.7 7

 8 Municipal securities 235.1 206.4 177.3 154.4 136.4 120.4 105.6 99.6 101.3 99.6 8

 9 Corporate and foreign bonds 81.1 111.9 159.8 187.7 167.6 158.7 163.9 169.3 180.2 182.1 9

 10 Depository institution loans n.e.c. 678.0 756.2 758.7 808.3 864.7 856.2 811.0 793.0 786.5 849.1 10

 11 Other loans and advances 60.0 54.4 59.8 57.5 55.4 45.5 35.3 31.7 25.3 22.9 11

 12 Mortgages 1208.0 1308.8 1449.0 1603.0 1670.2 1683.7 1623.6 1568.3 1588.0 1655.9 12

 13 Consumer credit 428.9 460.2 480.5 515.9 537.5 523.2 502.6 492.0 535.2 616.8 13

 14 Corporate equities 5.3 7.1 7.0 8.5 15.7 10.9 14.1 14.7 16.8 13.3 14

 15 Mutual fund shares 0.0 0.0 1.8 1.4 3.4 3.3 6.3 7.4 8.1 4.6 15

 16 Security credit 45.4 39.6 34.4 33.9 38.2 36.2 46.8 88.0 100.7 94.9 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 239.4 252.6 277.1 332.6 366.5 311.4 315.7 358.8 387.4 517.4 18

 19 Total liabilities 3536.1 3870.1 4121.9 4469.9 4599.8 4587.9 4519.4 4604.5 4755.4 5114.0 19

 20 Net interbank liabilities -55.0 -52.2 -14.5 -10.6 -21.0 3.3 9.4 43.9 94.7 199.4 20

 21 Checkable deposits 531.1 643.2 630.4 655.1 651.9 670.3 727.4 823.4 903.5 866.0 21

 22 Small time and savings deposits 1853.1 1978.9 2048.3 2187.4 2285.3 2349.2 2350.8 2293.6 2223.2 2185.8 22

 23 Large time deposits 488.5 492.1 541.9 595.1 613.0 546.9 488.4 415.2 391.7 411.2 23

 24 Federal funds and security RPs (net) 211.8 246.2 286.5 325.1 312.5 270.2 230.8 267.6 312.9 403.7 24

 25 Credit market instruments 182.7 204.6 241.0 259.3 244.0 213.4 158.7 159.5 176.0 198.0 25

 26 Open market paper 64.6 58.8 64.3 61.6 57.4 52.1 37.8 33.9 26.3 23.4 26

 27 Corporate bonds 25.1 32.3 37.3 38.9 38.3 36.9 33.8 39.0 41.1 43.7 27

 28 Other loans and advances 92.9 113.5 139.3 158.8 148.3 124.4 87.1 86.5 108.7 131.0 28

 29 Taxes payable (net) 4.6 4.9 2.5 2.7 1.4 1.3 -0.1 -0.3 -3.2 -5.2 29

 30 Miscellaneous liabilities 319.3 352.4 385.8 455.9 512.7 533.3 554.0 601.8 656.6 855.1 30

 31 Foreign direct investment in U.S. 11.4 12.4 14.4 16.9 18.6 18.4 24.9 21.2 24.0 26.3 31

 32 Investment by holding companies 135.5 153.5 160.8 183.8 194.2 211.8 229.3 266.1 296.2 311.7 32

 33 Investment by funding corporations 22.7 26.9 34.1 46.9 49.5 47.6 47.2 51.1 44.5 44.1 33

 34 Other 149.7 159.7 176.6 208.3 250.4 255.5 252.6 263.3 291.9 473.1 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.
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Historical Annuals, 1985-1994, 71

L.110 U.S.-Chartered Depository Institutions, Excluding Credit Unions

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets 3241.7 3518.9 3738.0 4017.7 4041.2 3956.5 3814.3 3834.5 3964.3 4204.4 1

 2 Vault cash 25.5 25.7 24.9 27.6 28.7 32.6 33.6 31.9 32.7 38.1 2

 3 Reserves at Federal Reserve 26.6 45.5 39.6 38.3 37.3 37.4 28.5 31.4 34.0 29.8 3

 4 Credit market instruments 2933.7 3190.3 3409.2 3634.5 3678.8 3633.6 3506.8 3500.4 3627.4 3781.1 4

 5 Open market paper 12.0 12.8 13.3 13.4 12.5 9.3 8.8 6.5 5.2 3.7 5

 6 Treasury securities 217.1 226.5 233.0 210.9 182.5 183.3 232.7 288.3 303.2 275.1 6

 7 Agency- and GSE-backed securities 221.0 303.8 375.3 425.1 431.0 460.6 466.2 503.2 543.6 558.0 7

 8 Residential mortgage pass-through securities 151.6 220.3 287.1 308.2 298.6 299.5 277.3 276.2 296.7 316.0 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 0.0 0.0 0.0 0.0 0.0 54.8 89.4 122.7 133.8 119.4 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 69.5 83.5 88.3 116.9 132.4 106.3 99.5 104.3 113.1 122.6 12

 13 Municipal securities 234.5 205.8 176.7 153.8 135.8 119.8 105.1 99.1 101.0 99.0 13

 14 Corporate and foreign bonds 74.1 99.7 144.5 174.0 152.8 141.0 142.4 146.6 155.7 152.7 14

 15 Priv. residential mortgage pass-through securities 0.4 3.7 19.4 24.4 28.9 30.3 30.6 30.2 35.0 32.8 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 0.0 0.0 0.0 0.0 0.0 0.0 28.2 21.6 19.8 21.5 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 73.7 96.0 125.1 149.6 123.9 110.7 83.5 94.7 101.0 98.5 19

 20 Depository institution loans n.e.c. 593.1 649.2 634.6 663.3 687.6 669.9 599.3 573.1 580.9 625.5 20

 21 Other loans and advances 37.9 30.6 29.6 26.5 21.3 17.2 12.6 12.6 10.1 9.9 21

 22 Mortgages 1189.1 1278.7 1402.9 1540.0 1609.4 1600.9 1527.2 1470.9 1494.0 1559.9 22

 23 Consumer credit 354.8 383.1 399.4 427.6 445.8 431.6 412.3 400.3 433.6 497.2 23

 24 Corporate equities 5.2 7.0 7.0 8.5 15.7 10.9 14.1 14.7 16.8 13.3 24

 25 Mutual fund shares 0.0 0.0 0.0 0.0 2.2 1.9 3.7 3.4 3.9 2.0 25

 26 Security credit 38.5 32.5 29.4 29.0 33.2 27.8 30.0 57.3 61.4 56.8 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 212.1 217.9 228.0 279.9 245.4 212.3 197.7 195.5 188.2 283.3 28

 29 Total liabilities 3268.6 3544.2 3732.3 4032.0 4058.8 4022.6 3868.1 3857.9 3953.5 4238.7 29

 30 Net interbank liabilities -66.6 -71.8 -49.5 -53.5 -71.0 -54.7 -45.6 -55.6 -23.2 61.8 30

 31 Federal Reserve float 1.0 1.3 0.8 1.3 1.1 2.2 0.7 3.3 0.9 -0.7 31

 32 Borrowing from Federal Reserve banks 3.1 1.6 3.8 2.2 0.5 0.2 0.2 0.7 0.1 0.2 32

 33 To domestic banks -55.4 -56.8 -54.4 -59.6 -69.7 -71.6 -52.4 -40.3 -23.7 -12.0 33

 34 To foreign banks -15.2 -17.8 0.3 2.7 -3.0 14.5 5.9 -19.2 -0.5 74.3 34

 35 Checkable deposits 506.2 616.5 602.7 625.3 620.6 637.8 692.7 784.2 862.3 822.2 35

 36 Federal government 25.8 27.5 21.6 29.0 25.6 30.9 36.4 30.6 42.6 23.8 36

 37 Rest of the world 16.0 18.7 17.2 16.6 16.7 16.3 14.1 15.8 15.6 17.1 37

 38 Private domestic 464.4 570.4 563.8 579.7 578.3 590.6 642.2 737.8 804.1 781.3 38

 39 Small time and savings deposits 1730.7 1827.6 1885.1 2012.2 2101.7 2150.0 2135.3 2061.9 1982.8 1940.3 39

 40 Large time deposits 450.9 445.8 491.5 537.8 547.6 485.2 376.9 292.8 269.1 284.9 40

 41 Federal funds and security RPs (net) 212.6 240.9 281.3 315.6 303.8 255.2 205.6 242.2 286.7 368.5 41

 42 Credit market instruments 158.3 177.3 207.1 224.9 208.6 178.9 133.8 138.3 159.7 184.1 42

 43 Open market paper 40.2 31.5 30.5 27.2 22.0 17.6 12.9 12.8 10.2 10.0 43

 44 Corporate bonds 25.1 32.3 37.3 38.9 38.3 36.9 33.8 39.0 41.1 43.7 44

 45 Other loans and advances 92.9 113.5 139.3 158.8 148.3 124.4 87.1 86.5 108.4 130.5 45

 46 Taxes payable (net) 4.6 4.9 2.5 2.7 1.4 1.3 -0.1 -0.3 -3.2 -5.2 46

 47 Miscellaneous liabilities 272.0 302.9 311.5 367.0 346.2 368.8 369.6 394.6 419.3 582.2 47

 48 Investment by holding companies 135.5 153.5 160.8 183.8 194.2 211.8 229.3 266.1 296.2 311.7 48

 49 Other 136.4 149.4 150.7 183.2 152.0 157.0 140.3 128.5 123.2 270.5 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.
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72 Historical Annuals, 1985-1994,

L.111 Foreign Banking Offices in U.S. (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets 144.3 186.4 235.6 265.8 359.1 367.1 438.5 510.9 544.5 593.1 1

 2 Reserves at Federal Reserve 2.0 2.6 2.2 1.1 1.0 1.2 0.9 0.7 1.0 1.0 2

 3 Credit market instruments 117.1 152.0 186.1 215.4 242.2 270.6 319.2 335.8 325.7 337.1 3

 4 Open market paper 1.2 1.0 2.2 1.7 2.1 4.1 3.1 3.3 2.4 2.2 4

 5 Treasury securities 4.8 6.9 6.5 6.6 6.4 11.4 20.8 29.6 36.1 32.7 5

 6 Agency- and GSE-backed securities 1.1 2.6 3.8 4.9 5.2 7.2 11.2 14.1 21.5 23.0 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 6.3 11.3 14.4 13.7 14.7 17.7 21.4 22.4 23.8 28.9 8

 9 Depository institution loans n.e.c. 75.8 97.7 115.0 135.4 149.5 156.4 185.7 195.7 181.7 197.1 9

 10 Other loans and advances 22.1 23.8 30.2 31.0 34.0 28.3 22.7 19.1 15.1 13.0 10

 11 Mortgages 5.7 8.7 13.9 22.1 30.2 45.5 54.3 51.6 45.1 40.3 11

 12 Corporate equities 0.1 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Security credit 7.0 7.1 5.0 4.9 5.0 8.4 16.8 30.7 39.3 38.1 13

 14 Miscellaneous assets 18.1 24.6 42.3 44.4 110.9 86.8 101.6 143.8 178.5 216.9 14

 15 Total liabilities 148.8 191.3 240.8 271.7 365.7 374.2 446.3 519.3 553.5 602.8 15

 16 Net interbank liabilities 39.3 55.1 70.0 74.0 78.7 87.0 88.8 134.3 151.0 162.3 16

 17 To foreign banks 0.9 17.9 40.8 42.6 38.9 46.7 41.1 103.5 132.7 158.5 17

 18 To domestic banks 38.4 37.2 29.2 31.4 39.8 40.3 47.8 30.8 18.3 3.9 18

 19 Checkable deposits 7.3 8.3 7.6 8.7 8.4 8.7 8.9 8.3 8.3 8.8 19

 20 Small time and savings deposits 4.9 7.1 7.8 8.3 12.0 11.0 11.0 11.2 10.4 9.3 20

 21 Large time deposits 30.7 38.3 42.1 48.4 52.9 49.2 99.3 108.2 107.4 110.0 21

 22 Federal funds and security RPs (net) 7.6 16.1 14.4 18.9 21.2 29.6 38.4 39.0 34.7 41.4 22

 23 Open market paper (2) 24.4 27.2 33.8 34.4 35.4 34.5 24.9 21.2 16.0 13.4 23

 24 Miscellaneous liabilities 34.5 39.3 65.1 79.1 157.1 154.2 175.0 197.1 225.7 257.6 24

 25 Foreign direct investment in U.S. 11.4 12.4 14.4 16.9 18.6 18.4 24.9 21.2 24.0 26.3 25

 26 Investment by funding corporations 22.7 26.9 34.1 46.9 49.5 47.6 47.2 51.1 44.5 44.1 26

 27 Other 0.4 0.0 16.7 15.3 89.0 88.1 102.9 124.8 157.1 187.3 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.
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Historical Annuals, 1985-1994, 73

L.112 Banks in U.S.-Affiliated Areas (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets 18.1 17.0 16.5 18.7 21.1 25.8 23.3 26.4 28.4 31.6 1

 2 Credit market instruments 13.7 14.6 14.7 15.5 17.1 21.6 19.7 23.4 25.8 29.2 2

 3 Treasury securities 1.2 1.7 1.7 1.9 2.2 2.5 2.8 4.3 5.8 5.1 3

 4 Agency- and GSE-backed securities 0.0 0.0 0.0 0.4 0.8 0.9 1.0 2.1 2.3 2.8 4

 5 Municipal securities 0.6 0.6 0.6 0.7 0.6 0.6 0.5 0.5 0.2 0.6 5

 6 Corporate and foreign bonds 0.7 0.9 0.9 0.0 0.1 0.0 0.1 0.4 0.6 0.5 6

 7 Depository institution loans n.e.c. 9.1 9.3 9.1 9.6 9.7 13.0 10.0 10.2 9.7 11.3 7

 8 Home mortgages 1.3 1.3 1.5 1.7 1.9 2.0 2.0 3.0 4.1 4.8 8

 9 Commercial mortgages 0.8 0.8 0.9 1.2 1.8 2.5 3.2 3.0 3.1 4.0 9

 10 Miscellaneous assets 4.4 2.4 1.8 3.2 4.1 4.2 3.7 3.0 2.6 2.4 10

 11 Total liabilities 22.1 20.7 19.5 21.0 23.1 27.5 24.4 26.9 28.2 31.7 11

 12 Net interbank liabilities -4.5 -4.4 -3.6 -3.0 -2.6 -2.5 -1.8 -1.3 -1.0 -1.4 12

 13 Checkable deposits 4.9 5.4 5.4 5.6 6.1 5.4 5.2 5.8 6.1 6.2 13

 14 Small time and savings deposits 5.8 6.3 6.2 6.4 7.0 9.1 8.1 8.5 8.2 9.0 14

 15 Large time deposits 5.8 6.3 6.2 6.4 7.0 9.1 8.1 8.5 8.2 9.0 15

 16 Miscellaneous liabilities 10.1 7.3 5.4 5.4 5.7 6.5 4.9 5.5 6.6 8.9 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 103.2 121.6 138.1 155.3 163.4 176.2 194.7 217.6 241.1 264.2 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 98.4 113.9 131.3 148.8 156.0 166.6 179.4 197.1 218.7 246.8 3

 4 Open market paper 0.2 0.7 0.5 0.9 1.1 2.3 2.6 3.0 2.2 2.1 4

 5 Treasury securities 6.2 8.0 11.2 14.4 12.1 8.5 14.1 19.9 22.6 22.1 5

 6 Agency- and GSE-backed securities 7.0 8.8 8.8 7.1 6.3 14.4 19.6 28.7 36.3 40.9 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 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Depository institution loans n.e.c. 0.0 0.0 0.0 0.0 17.9 17.0 15.9 14.0 14.2 15.1 9

 10 Home mortgages 11.1 19.3 29.9 38.1 27.0 32.7 36.9 39.8 41.8 47.0 10

 11 Consumer credit 74.0 77.1 81.0 88.3 91.7 91.6 90.3 91.7 101.6 119.6 11

 12 Mutual fund shares 0.0 0.0 1.8 1.4 1.2 1.4 2.6 4.1 4.2 2.6 12

 13 Miscellaneous assets 4.8 7.7 5.0 5.1 6.2 8.2 12.8 16.5 18.2 14.8 13

 14 Total liabilities 96.7 113.8 129.3 145.2 152.2 163.6 180.5 200.4 220.2 240.9 14

 15 Net interbank liabilities -23.3 -31.0 -31.4 -28.2 -26.0 -26.5 -32.1 -33.6 -32.1 -23.2 15

 16 Shares/deposits 125.5 152.7 166.0 178.4 187.0 200.8 221.3 242.9 255.5 263.4 16

 17 Checkable 12.6 13.0 14.7 15.5 16.8 18.3 20.5 25.1 26.8 28.8 17

 18 Small time and savings 111.7 137.8 149.2 160.5 164.7 179.1 196.5 212.0 221.8 227.3 18

 19 Large time 1.2 1.8 2.1 2.5 5.5 3.4 4.2 5.8 6.9 7.3 19

 20 Federal funds and security RPs (net) -8.4 -10.9 -9.2 -9.4 -12.5 -14.6 -13.2 -13.5 -8.5 -6.2 20

 21 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.5 21

 22 Miscellaneous liabilities 2.8 3.0 3.9 4.3 3.7 3.9 4.5 4.6 5.1 6.4 22
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74 Historical Annuals, 1985-1994,

L.114 Property-Casualty Insurance Companies

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets 298.6 353.6 405.0 453.9 503.0 533.5 575.8 597.9 642.5 678.1 1

 2 Checkable deposits and currency 4.3 5.6 5.5 5.4 6.0 6.5 5.3 5.6 5.2 5.0 2

 3 Money market fund shares 8.3 8.3 8.6 9.8 9.7 10.8 9.4 11.4 11.1 10.3 3

 4 Security RPs 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 191.8 234.6 274.6 306.0 335.6 364.2 394.1 410.6 443.3 465.6 5

 6 Open market paper 11.8 11.9 12.3 14.0 13.9 15.5 13.5 16.3 15.9 14.7 6

 7 Treasury securities 32.3 46.1 54.7 64.2 75.2 83.6 108.1 113.6 129.3 137.4 7

 8 Agency- and GSE-backed securities 22.2 22.3 22.3 22.6 26.0 32.0 42.1 42.6 44.5 45.8 8

 9 Municipal securities 88.2 101.9 124.8 134.1 134.8 136.9 126.8 134.3 146.1 153.8 9

 10 Corporate and foreign bonds 33.9 48.0 55.5 65.7 79.3 89.2 97.2 97.8 103.1 110.1 10

 11 Commercial mortgages 3.3 4.3 5.0 5.6 6.5 6.9 6.5 5.9 4.5 3.8 11

 12 Corporate equities 57.0 61.2 65.1 71.4 84.0 79.9 94.1 97.3 103.4 111.7 12

 13 Mutual fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.3 13

 14 Trade receivables 27.2 32.1 35.7 42.5 45.3 47.2 49.1 49.0 50.7 52.9 14

 15 Miscellaneous assets 10.0 11.8 15.5 18.9 22.4 24.8 23.7 24.0 28.8 32.2 15

 16 Total liabilities 215.6 259.5 305.9 337.6 371.1 398.8 419.0 440.8 459.1 474.4 16

 17 Security RPs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Taxes payable (net) 0.9 1.1 1.6 1.9 1.2 1.9 2.6 0.9 3.0 2.6 18

 19 Miscellaneous liabilities 214.7 258.4 304.3 335.6 369.9 396.9 416.4 439.9 456.1 471.9 19

L.115 Life Insurance Companies

Billions of dollars

 1 Total financial assets 796.1 905.9 1005.3 1125.0 1245.5 1351.4 1479.5 1587.0 1754.9 1862.9 1

 2 Checkable deposits and currency 5.1 5.8 4.9 4.6 5.0 4.9 5.5 4.8 5.2 5.6 2

 3 Money market fund shares 9.1 10.0 6.9 7.0 6.2 8.4 8.5 8.7 8.8 8.9 3

 4 Security RPs 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 646.6 734.5 823.1 927.2 1028.3 1134.5 1218.9 1304.4 1415.5 1487.5 5

 6 Open market paper 29.1 34.5 34.0 39.2 42.8 45.7 45.8 43.2 46.9 52.8 6

 7 Treasury securities 51.7 59.0 57.1 58.6 52.9 59.2 77.8 88.8 110.0 107.1 7

 8 Agency- and GSE-backed securities 49.4 60.0 67.0 75.7 100.8 121.0 164.2 193.0 222.8 234.1 8

 9 Municipal securities 9.7 11.7 10.7 9.1 9.0 12.3 10.2 11.4 14.7 12.8 9

 10 Corporate and foreign bonds 280.6 321.4 388.3 457.5 511.0 566.9 595.1 653.9 719.5 779.4 10

 11 Other loans and advances 54.4 54.1 53.6 54.2 57.4 61.6 66.4 72.1 77.7 85.5 11

 12 Mortgages 171.8 193.8 212.4 232.9 254.2 267.9 259.5 242.0 223.9 215.8 12

 13 Corporate equities 74.0 76.4 80.5 81.4 91.8 81.9 135.8 151.6 205.8 231.4 13

 14 Mutual fund shares 3.5 14.5 12.1 18.5 19.1 30.7 8.6 18.2 21.3 24.4 14

 15 Miscellaneous assets 57.8 64.8 77.8 86.4 95.1 91.0 102.2 99.4 98.3 105.1 15

 16 Total liabilities 750.8 855.9 947.3 1068.7 1185.9 1291.3 1409.6 1525.1 1677.8 1773.5 16

 17 Security RPs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.6 18

 19 Life insurance reserves 246.5 263.7 289.5 314.4 342.8 368.1 393.8 421.5 457.2 491.5 19

 20 Pension entitlements (1) 260.4 327.9 348.6 435.5 495.5 569.8 621.2 693.4 775.1 796.6 20

 21 Taxes payable (net) 2.5 3.1 3.4 3.8 4.8 5.3 6.4 7.8 9.4 10.4 21

 22 Miscellaneous liabilities 241.4 261.2 305.8 314.9 342.8 348.1 388.3 402.5 435.9 474.5 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).
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Historical Annuals, 1985-1994, 75

L.116 Private and Public Pension Funds (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets (2) 2559.2 2767.3 3014.5 3234.1 3606.8 3824.1 4181.1 4604.0 4951.6 5236.2 1

 2 Checkable deposits and currency 5.6 5.0 6.5 9.0 7.3 8.3 6.8 9.5 9.8 10.8 2

 3 Time and savings deposits 89.9 96.9 81.4 94.3 123.7 118.1 124.8 105.7 101.6 104.6 3

 4 Money market fund shares 10.5 12.7 14.8 17.2 20.6 20.6 21.7 22.9 30.4 36.5 4

 5 Security RPs 24.2 29.1 31.7 32.9 34.5 35.7 46.1 52.1 48.8 50.0 5

 6 Credit market instruments 581.4 630.7 677.1 722.5 807.2 873.7 904.4 970.5 1036.6 1090.1 6

 7 Open market paper 27.1 34.7 44.9 37.7 36.6 38.6 48.5 54.1 50.6 51.8 7

 8 Treasury securities 213.9 228.1 253.0 266.1 279.7 297.9 292.5 324.9 337.2 355.7 8

 9 Agency- and GSE-backed securities 105.2 97.3 115.2 122.0 161.7 195.9 204.0 196.4 206.8 251.8 9

 10 Corporate and foreign bonds 204.7 243.1 239.6 263.8 290.4 299.8 323.6 363.6 413.1 406.7 10

 11 Mortgages 29.3 26.8 23.5 32.3 38.6 41.0 35.1 31.0 27.5 23.0 11

 12 Corporate equities 635.8 673.7 702.7 727.9 913.4 890.8 1202.2 1307.8 1525.0 1541.5 12

 13 Mutual fund shares 17.8 17.6 29.0 30.8 40.8 48.3 79.5 114.1 167.9 250.7 13

 14 Miscellaneous assets 1194.0 1301.5 1471.1 1599.6 1659.5 1828.7 1795.6 2021.3 2031.5 2152.0 14

 15 Claims of pension fund on sponsor (3) 758.5 803.4 895.6 962.7 972.8 1124.8 1016.2 1202.2 1155.7 1196.7 15

 16 Other 112.8 130.8 137.1 166.3 156.4 124.1 119.4 106.5 93.4 93.5 16

 17 Pension entitlements (liabilities) (4) 2586.7 2802.3 3051.8 3265.5 3646.3 3865.3 4225.6 4649.2 4999.0 5299.3 17

 Memo:

 Funded status of defined benefit plans:

 18 Pension entitlements 2154.9 2332.6 2500.0 2668.4 2931.1 3128.3 3335.2 3675.2 3888.1 4113.0 18

 19 Funded by assets (5) 1396.4 1529.2 1604.5 1705.7 1958.3 2003.6 2318.9 2473.0 2732.4 2916.3 19

 20 Unfunded (line 15) 758.5 803.4 895.6 962.7 972.8 1124.8 1016.2 1202.2 1155.7 1196.7 20

 21 Household retirement assets (6) 3043.7 3401.5 3737.0 4098.8 4610.5 4988.9 5528.6 6114.7 6650.2 7010.1 21

 22 Defined benefit plans (7) 2127.5 2297.6 2462.7 2637.0 2891.7 3087.1 3290.6 3629.9 3840.7 4049.9 22

 23 Defined contibution plans (8) 431.7 469.7 551.8 597.1 715.2 737.0 890.5 974.0 1110.9 1186.3 23

 24 Individual retirement plans (IRAs) (9) 241.0 329.0 404.0 468.0 546.0 637.0 776.0 873.0 993.0 1056.0 24

 25 Annuities at life insurance companies (10) 243.5 305.2 318.5 396.6 457.6 527.8 571.5 637.8 705.7 717.9 25

(1) Private pension funds, state and local government employee retirement funds, and federal government retirement funds defined benefit plans and defined contribution plans (including 401(k) type plans).

(2) Includes claims on sponsor (i.e., unfunded defined benefit pension entitlements).

(3) Unfunded defined benefit pension entitlements. Negative values indicate overfunding.

(4) Actuarial value of accrued pension entitlements in defined benefit plans and assets of defined contribution plans. These liabilities are assets of the household sector.

(5) Total defined benefit financial assets plus nonfinancial assets less claims of pension fund on sponsor.

(6) Households’ retirement assets in tax-deferred accounts, including employer sponsored pension plans, IRAs, Roth IRAs, and annuities.

(7) Additional detail on private defined benefit plans is available on table L.117.b.

(8) Additional detail on private defined contribution plans is available on table L.117.c.

(9) IRA assets are not included above. See table L.226.i for a sectoral distribution of IRA accounts.

(10) Annuities held in IRAs at life insurance companies are excluded. They are included in line 21.
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76 Historical Annuals, 1985-1994,

L.117 Private Pension Funds (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets (2) 1202.8 1295.8 1437.2 1549.7 1720.8 1803.7 2016.2 2161.3 2356.4 2473.9 1

 2 Checkable deposits and currency 3.3 1.9 1.7 4.5 4.1 3.3 3.0 3.0 3.2 4.0 2

 3 Time and savings deposits 76.6 87.0 76.2 87.1 114.6 110.4 115.9 98.8 95.4 102.1 3

 4 Money market fund shares 9.1 11.0 12.8 14.8 17.8 17.8 18.8 19.8 26.3 31.6 4

 5 Security RPs 19.2 20.9 20.4 22.7 24.8 23.5 27.2 27.4 28.3 22.2 5

 6 Credit market instruments 329.0 333.6 347.2 369.2 420.8 464.3 489.7 515.7 551.9 591.5 6

 7 Open market paper 22.1 26.4 33.6 27.5 26.9 26.4 29.7 29.5 30.2 24.0 7

 8 Treasury securities 128.6 112.8 113.0 112.7 122.4 122.4 117.1 108.7 104.3 121.1 8

 9 Agency- and GSE-backed securities 67.1 59.2 72.3 86.7 110.5 133.1 146.0 156.5 170.6 211.5 9

 10 Corporate and foreign bonds 97.2 124.0 120.1 125.6 137.8 157.5 178.7 206.5 233.7 227.1 10

 11 Mortgages 14.0 11.3 8.2 16.7 23.3 24.9 18.2 14.5 13.0 7.8 11

 12 Corporate equities 515.8 523.5 532.6 515.2 635.5 605.9 806.2 873.7 1014.3 1013.7 12

 13 Mutual fund shares 11.1 12.1 19.9 23.4 33.0 40.5 66.4 96.2 142.2 205.9 13

 14 Miscellaneous assets 238.9 305.8 426.3 512.6 470.1 538.0 488.9 526.8 494.8 502.9 14

 15 Unallocated insurance contracts (3) 131.8 146.9 186.3 186.9 204.7 214.8 244.5 247.6 267.9 297.9 15

 16 Contributions receivable 18.7 18.7 20.3 19.0 26.3 32.3 44.4 54.3 66.6 78.3 16

 17 Claims of pension fund on sponsor (4) -24.0 10.0 83.3 142.5 89.0 174.6 85.2 122.9 71.0 37.7 17

 18 Other 112.3 130.1 136.5 164.2 150.1 116.3 114.8 101.9 89.3 89.0 18

 19 Pension entitlements (liabilities) (5) 1226.9 1326.6 1469.3 1574.7 1752.3 1833.0 2044.8 2185.7 2379.3 2511.0 19

 Memo:

 Funded status of defined benefit plans:

 20 Pension entitlements 795.2 856.9 918.6 980.3 1042.0 1103.7 1165.4 1227.2 1289.0 1350.7 20

 21 Funded by assets (6) 819.2 846.9 835.3 837.8 953.0 929.2 1080.3 1104.3 1218.0 1313.1 21

 22 Unfunded (line 17) -24.0 10.0 83.3 142.5 89.0 174.6 85.2 122.9 71.0 37.7 22

 Total financial assets (7)

 23 Defined benefit plans 771.1 826.1 886.6 955.3 1010.5 1074.4 1136.8 1202.8 1266.1 1313.6 23

 24 Defined contibution plans 431.7 469.7 550.7 594.4 710.3 729.3 879.4 958.5 1090.3 1160.2 24

(1) Private defined benefit plans and defined contribution plans (including 401(k) type plans).

(2) Includes claims on sponsor (i.e., unfunded pension entitlements).

(3) Assets of private pension plans held at life insurance companies (e.g., GICs, variable annuities); series begins 1985:Q4.

(4) Unfunded defined benefit pension entitlements. Negative values indicate overfunding.

(5) Actuarial value of accrued pension entitlements in defined benefit plans and assets of defined contribution plans. These liabilities are assets of the household sector.

(6) Total defined benefit financial assets plus nonfinancial assets less claims of pension fund on sponsor.

(7) Additional detail on defined benefit plans and defined contribution plans is available on L.117.b and L.117.c.
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Historical Annuals, 1985-1994, 77

L.118 State and Local Government Employee Retirement Funds (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets (2) 451.4 497.9 542.0 585.7 721.1 788.2 862.1 1065.0 1145.5 1239.8 1

 2 Checkable deposits and currency 2.4 3.1 4.8 4.4 3.2 5.0 3.8 6.5 6.6 6.7 2

 3 Time and savings deposits 13.3 9.9 5.2 7.1 9.1 7.7 8.8 6.9 6.2 2.5 3

 4 Money market fund shares 1.4 1.7 2.0 2.3 2.8 2.8 3.0 3.1 4.1 5.0 4

 5 Security RPs 5.0 8.3 11.3 10.2 9.7 12.2 18.9 24.7 20.4 27.8 5

 6 Credit market instruments 252.4 297.1 328.8 350.5 381.5 402.0 404.6 441.8 468.6 478.7 6

 7 Open market paper 5.0 8.3 11.3 10.2 9.7 12.2 18.9 24.7 20.4 27.8 7

 8 Treasury securities 85.4 115.3 138.9 150.7 152.4 168.2 165.5 203.5 217.5 215.6 8

 9 Agency- and GSE-backed securities 38.1 38.1 43.0 35.3 51.2 62.9 58.0 39.8 35.8 39.9 9

 10 Municipal securities 1.1 0.7 0.8 0.5 0.3 0.5 0.6 0.4 1.4 1.1 10

 11 Corporate and foreign bonds 107.4 119.1 119.5 138.2 152.6 142.1 144.7 156.9 179.0 179.1 11

 12 Mortgages 15.3 15.6 15.3 15.6 15.3 16.1 16.9 16.5 14.5 15.2 12

 13 Corporate equities 120.1 150.2 170.1 212.6 277.8 284.6 395.0 431.7 506.2 521.7 13

 14 Mutual fund shares 6.8 5.5 9.1 7.4 7.8 7.8 13.1 17.9 25.6 44.8 14

 15 Miscellaneous assets 50.1 22.0 10.7 -9.0 29.3 66.1 15.0 132.4 107.6 152.6 15

 16 Claims of pension fund on sponsor (3) 49.6 21.3 10.1 -11.1 23.0 58.3 10.4 127.8 103.5 148.0 16

 17 Other 0.5 0.7 0.6 2.1 6.3 7.8 4.6 4.5 4.1 4.6 17

 18 Pension entitlements (liabilities) (4) 454.7 502.0 547.3 592.1 729.0 800.0 878.1 1085.8 1170.0 1265.7 18

 Memo:

 Funded status of defined benefit plans:

 19 Pension entitlements 454.7 502.0 547.3 592.1 729.0 800.0 878.1 1085.8 1170.0 1265.7 19

 20 Funded by assets (5) 405.1 480.7 537.2 603.2 706.0 741.7 867.7 957.9 1066.5 1117.7 20

 21 Unfunded (line 16) 49.6 21.3 10.1 -11.1 23.0 58.3 10.4 127.8 103.5 148.0 21

(1) Defined benefit plans.

(2) Includes claims on sponsor (i.e., unfunded pension entitlements).

(3) Unfunded defined benefit pension entitlements. Negative values indicate overfunding.

(4) Actuarial value of accrued defined benefit pension entitlements. These liabilities are assets of the household sector.

(5) Total defined benefit financial assets plus nonfinancial assets less claims of pension fund on sponsor.

L.119 Federal Government Employee Retirement Funds

Billions of dollars

 1 Total financial assets (1) 905.0 973.7 1035.2 1098.8 1165.0 1232.3 1302.8 1377.7 1449.7 1522.6 1

 2 Credit market instruments 0.0 0.0 1.1 2.7 4.9 7.4 10.0 13.1 16.2 19.9 2

 3 Treasury securities 0.0 0.0 1.1 2.7 4.9 7.3 9.8 12.7 15.4 19.0 3

 4 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.4 0.5 4

 5 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.1 0.2 0.2 0.4 0.4 5

 6 Corporate equities 0.0 0.0 0.0 0.0 0.1 0.3 1.0 2.4 4.4 6.2 6

 7 Miscellaneous assets (2) 905.0 973.7 1034.1 1096.0 1160.0 1224.5 1291.7 1362.2 1429.2 1496.5 7

 8 Nonmarketable Treasury securities 172.1 201.7 232.0 264.7 299.3 332.6 371.0 410.8 447.9 485.5 8

 9 Claims of pension fund on sponsor (3) 732.9 772.0 802.2 831.3 860.8 891.9 920.7 951.4 981.3 1011.0 9

 10 Pension entitlements (liabilities) (4) 905.0 973.7 1035.2 1098.8 1165.0 1232.3 1302.8 1377.7 1449.7 1522.6 10

 Memo:

 Funded status of defined benefit plans:

 11 Pension entitlements 905.0 973.7 1034.1 1096.0 1160.0 1224.5 1291.7 1362.2 1429.2 1496.5 11

 12 Funded by assets (5) 172.1 201.7 232.0 264.7 299.3 332.6 371.0 410.8 447.9 485.5 12

 13 Unfunded (line 9) 732.9 772.0 802.2 831.3 860.8 891.9 920.7 951.4 981.3 1011.0 13

 Total financial assets

 14 Defined benefit plans (6) 905.0 973.7 1034.1 1096.0 1160.0 1224.5 1291.7 1362.2 1429.2 1496.5 14

 15 Defined contibution plans (2) 0.0 0.0 1.1 2.7 4.9 7.7 11.1 15.5 20.6 26.0 15

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(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) Unfunded defined benefit pension entitlements. Negative values indicate overfunding.

(4) Actuarial value of accrued pension entitlements in defined benefit plans and assets of defined contribution plans. These liabilities are assets of the household sector.

(5) Total defined benefit financial assets less claims of pension fund on sponsor.

(6) Includes the Thrift Savings Plan and the National Railroad Retirement Investment Trust.
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78 Historical Annuals, 1985-1994,

L.120 Money Market Mutual Funds (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets 242.4 290.6 313.8 335.0 424.7 493.3 535.0 539.5 559.6 600.1 1

 2 Foreign deposits 18.9 22.0 21.4 29.3 26.1 26.7 21.4 20.3 10.0 15.7 2

 3 Checkable deposits and currency 0.2 -0.0 -0.3 0.7 0.1 11.2 -0.2 -2.7 -1.2 -2.5 3

 4 Time and savings deposits 17.3 20.1 34.5 33.8 43.0 21.9 35.1 34.6 31.9 31.4 4

 5 Security RPs 25.9 31.9 38.9 41.2 54.3 58.2 67.0 65.9 66.4 68.8 5

 6 Credit market instruments 178.2 213.1 215.0 225.5 293.7 371.3 403.9 408.6 429.0 459.0 6

 7 Open market paper 98.4 104.4 110.1 127.5 184.5 204.0 190.6 173.6 164.4 187.2 7

 8 Treasury securities 24.4 27.8 14.1 11.4 14.6 44.9 78.3 78.4 79.4 66.1 8

 9 Agency- and GSE-backed securities 18.0 15.0 26.7 18.2 20.8 36.4 40.6 54.3 67.8 77.2 9

 10 Municipal securities 36.4 64.1 61.8 66.1 70.1 84.0 90.6 96.0 105.6 113.4 10

 11 Corporate and foreign bonds 1.0 1.8 2.2 2.3 3.7 2.0 3.8 6.3 11.7 15.2 11

 12 Miscellaneous assets 2.0 3.6 4.4 4.6 7.5 4.0 7.7 12.7 23.7 27.8 12

 13 Total shares outstanding (liabilities) 242.4 290.6 313.8 335.0 424.7 493.3 535.0 539.5 559.6 600.1 13

(1) Open-end investment companies; excludes funding vehicles for variable annuities, which are included in the life insurance sector (table L.115).

L.121 Mutual Funds (1)

Billions of dollars

 1 Total financial assets 245.9 426.5 480.2 500.5 589.6 608.4 769.5 992.5 1375.4 1477.3 1

 2 Security RPs 1.3 2.8 3.6 4.9 4.8 6.1 12.2 21.9 38.7 43.1 2

 3 Credit market instruments 129.9 259.9 291.1 304.5 327.2 360.1 440.2 566.4 725.9 718.8 3

 4 Open market paper 7.9 15.8 19.5 28.6 28.0 28.5 12.2 21.9 38.7 43.1 4

 5 Treasury securities 38.8 71.2 84.1 80.3 81.4 87.1 103.9 110.4 134.0 130.5 5

 6 Agency- and GSE-backed securities 26.1 63.4 66.2 62.8 64.5 72.6 96.7 147.0 172.6 165.8 6

 7 Municipal securities 34.9 67.0 74.8 82.9 98.6 112.6 139.7 168.4 211.3 207.0 7

 8 Corporate and foreign bonds 22.2 42.4 46.6 49.8 54.6 59.3 87.7 118.7 169.3 172.4 8

 9 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Corporate equities 113.7 161.2 181.7 187.6 250.5 233.2 308.9 401.3 607.4 709.6 10

 11 Miscellaneous assets 1.0 2.7 3.8 3.5 7.1 8.9 8.2 3.0 3.3 5.9 11

 12 Total shares outstanding (liabilities) 245.9 426.5 480.2 500.5 589.6 608.4 769.5 992.5 1375.4 1477.3 12

(1) Open-end investment companies; excludes funding vehicles for variable annuities, which are included in the life insurance sector (table L.115).

L.122 Closed-End and Exchange-Traded Funds

Billions of dollars

 Closed-end funds

 1 Total financial assets 8.3 14.5 21.3 43.2 52.5 52.9 71.2 93.5 116.1 117.8 1

 2 Credit market instruments 4.1 7.0 11.0 28.8 35.4 36.7 49.5 69.7 89.7 86.0 2

 3 Treasury securities 0.6 1.0 1.6 4.8 6.6 6.8 10.0 11.6 13.7 12.8 3

 4 Municipal securities 1.0 2.0 3.3 7.5 12.1 14.1 25.4 39.7 51.8 53.4 4

 5 Corporate and foreign bonds 2.5 3.9 6.1 16.5 16.7 15.7 14.1 18.3 24.2 19.8 5

 6 Corporate equities 4.2 7.5 10.4 14.3 17.1 16.2 21.8 23.8 26.5 31.9 6

 7 Total shares outstanding (liabilities) 8.3 14.5 21.3 43.2 52.5 52.9 71.2 93.5 116.1 117.8 7

 Exchange-traded funds

 8 Total financial assets 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.5 0.4 8

 9 Credit market instruments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Treasury securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 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 0.0 0.0 0.0 12

 13 Corporate equities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.5 0.4 13

 14 Total shares outstanding (liabilities) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.5 0.4 14
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Historical Annuals, 1985-1994, 79

L.123 Government-Sponsored Enterprises (GSEs) (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets 324.0 346.4 374.4 421.7 454.2 477.6 496.9 552.8 631.7 782.3 1

 2 Checkable deposits and currency 2.1 3.7 3.6 3.6 2.3 2.1 1.2 1.2 2.1 1.3 2

 3 Time and savings deposits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Federal funds and security RPs (net) 26.9 29.4 27.2 33.8 61.8 68.7 67.6 66.6 50.3 85.8 4

 5 Credit market instruments 291.0 307.6 330.9 364.2 359.9 373.9 388.9 458.1 546.7 667.9 5

 6 Open market paper 0.1 0.1 0.0 0.4 3.3 3.8 10.9 13.5 11.9 26.3 6

 7 Treasury securities 6.8 16.3 21.0 26.3 13.0 34.3 40.8 58.7 51.6 51.9 7

 8 Agency- and GSE-backed securities 0.8 0.2 0.1 0.3 6.3 11.9 34.8 47.5 66.0 130.8 8

 9 Municipal securities 1.6 2.3 2.4 2.9 2.9 3.7 3.0 3.2 3.1 5.2 9

 10 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11.1 20.0 10

 11 Other loans and advances 115.2 132.8 157.8 176.6 168.0 144.8 110.7 111.3 135.2 158.8 11

 12 Sallie Mae 4.3 5.2 6.6 6.3 6.8 7.8 9.0 7.4 6.6 6.6 12

 13 Farm Credit System 22.0 19.0 18.2 17.5 19.4 19.9 22.7 24.0 25.4 26.3 13

 14 FHLB 88.8 108.6 133.1 152.8 141.8 117.1 79.1 79.9 103.1 125.9 14

 15 Mortgages 159.7 147.8 139.5 144.5 150.5 156.1 167.7 199.7 241.0 244.6 15

 16 Home 111.6 105.9 102.8 109.0 114.1 119.5 130.7 161.0 201.1 204.1 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 111.6 105.9 102.8 109.0 114.1 119.5 130.7 161.0 201.1 204.1 18

 19 Multifamily residential 8.5 8.7 8.4 9.5 12.0 13.2 14.2 15.8 17.5 18.4 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 8.5 8.7 8.4 9.5 12.0 13.2 14.2 15.8 17.5 18.4 21

 22 Farm 39.6 33.1 28.2 25.9 24.3 23.5 22.8 22.9 22.4 22.1 22

 23 Consumer credit (3) 6.8 8.2 10.0 13.2 16.0 19.2 21.1 24.2 26.8 30.4 23

 24 Miscellaneous assets 3.9 5.8 12.7 20.2 30.3 32.9 39.2 26.9 32.5 27.3 24

 25 Total liabilities 318.8 341.8 368.8 414.8 446.3 467.8 484.2 537.4 613.0 760.2 25

 26 Credit market instruments 263.9 278.7 308.2 353.1 378.3 398.5 407.7 448.4 529.0 701.0 26

 27 GSE issues (4) 257.8 273.0 303.2 348.1 373.3 393.7 402.9 443.6 524.2 701.0 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 257.8 273.0 303.2 348.1 373.3 393.7 402.9 443.6 524.2 701.0 29

 30 U.S. government loans 6.1 5.7 5.0 5.0 5.0 4.9 4.8 4.8 4.8 0.0 30

 31 Miscellaneous liabilities 54.9 63.1 60.7 61.8 68.0 69.2 76.5 89.0 84.0 59.1 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.124) 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.124 Agency- and GSE-Backed Mortgage Pools (1)

Billions of dollars

 1 Total financial assets 367.9 531.6 669.4 745.3 869.5 1019.9 1156.5 1272.0 1356.8 1472.4 1

 2 Home mortgages 360.5 519.5 652.9 723.6 843.8 991.1 1130.4 1248.2 1334.3 1449.6 2

 3 Multifamily residential mortgages 7.0 11.9 16.4 21.6 25.7 28.7 26.1 23.8 22.5 22.4 3

 4 Commercial mortgages 0.0 0.1 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Farm mortgages 0.4 0.1 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.4 5

 6 Total pool securities (liabilities)(2) 367.9 531.6 669.4 745.3 869.5 1019.9 1156.5 1272.0 1356.8 1472.4 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.123). 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.
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80 Historical Annuals, 1985-1994,

L.125 Issuers of Asset-Backed Securities (ABS)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets 37.2 74.7 118.3 154.4 209.8 267.7 321.0 383.7 466.2 536.1 1

 2 Treasury securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Agency- and GSE-backed securities (1) 10.2 53.5 81.8 107.1 99.1 103.3 76.6 60.0 83.6 106.7 3

 4 Other loans and advances 0.0 0.0 0.0 0.0 2.0 4.3 6.8 9.7 19.5 23.7 4

 5 Mortgages (2) 24.6 17.9 31.5 40.5 52.6 66.0 113.1 167.9 204.3 224.5 5

 6 Home 24.0 16.6 27.8 34.9 43.3 55.0 96.7 142.3 167.9 183.0 6

 7 Multifamily residential 0.0 0.2 0.5 1.0 1.0 0.9 3.8 6.6 8.4 9.8 7

 8 Commercial 0.6 1.1 3.1 4.6 8.4 10.1 12.6 19.1 28.1 31.6 8

 9 Consumer credit 0.0 0.0 0.0 0.0 47.3 76.7 103.0 120.3 130.5 146.1 9

 10 Trade credit 2.4 3.3 5.1 6.8 8.7 17.4 21.5 25.8 28.4 35.2 10

 11 Total liabilities 37.2 74.7 118.3 154.4 209.8 269.2 323.0 385.5 468.0 538.3 11

 12 Commercial paper 2.4 3.3 5.1 6.8 15.7 31.4 38.7 46.9 51.6 63.9 12

 13 Corporate bonds (net) (3) 34.8 71.4 113.2 147.6 194.1 237.8 284.2 338.7 416.5 474.3 13

 Memo:

 Securitized assets not included above

 14 Consumer leases (4) 0.0 0.0 0.0 0.0 0.0 1.5 2.0 1.9 1.9 2.2 14

 15 REIT assets (5) 2.2 6.7 13.0 14.6 15.3 15.3 15.0 14.3 12.5 9.0 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.127.

(6) Included in table L.110 line 43.

L.126 Finance Companies (1)

Billions of dollars

 1 Total financial assets 363.1 423.8 470.3 519.7 568.6 596.1 620.0 616.1 617.8 636.1 1

 2 Checkable deposits and currency 4.4 5.4 6.7 7.9 8.7 9.9 12.2 12.6 14.1 15.5 2

 3 Time and savings deposits 1.5 2.3 2.9 3.4 4.7 5.3 8.1 8.4 11.5 12.7 3

 4 Credit market instruments 353.2 409.9 448.3 493.3 537.3 564.8 572.5 575.0 563.1 595.1 4

 5 Corporate and foreign bonds 17.3 22.4 28.1 32.9 39.0 44.4 59.3 61.2 74.8 82.4 5

 6 Other loans and advances 150.2 165.8 200.1 228.7 250.8 268.1 263.8 264.9 249.0 274.9 6

 7 Mortgages 53.3 70.8 66.1 76.4 102.9 114.1 123.6 126.3 123.1 103.3 7

 8 Consumer credit 132.4 151.0 154.1 155.3 144.6 138.1 125.9 122.6 116.1 134.4 8

 9 Miscellaneous assets 4.0 6.2 12.4 15.1 18.0 16.1 27.2 20.2 29.1 12.9 9

 10 Total liabilities 345.9 407.4 449.1 490.3 533.0 560.9 591.8 608.4 614.7 654.9 10

 11 Credit market instruments 241.0 301.5 313.6 337.5 375.0 398.1 411.7 416.6 415.3 452.5 11

 12 Open market paper 102.7 124.3 135.0 152.1 160.7 163.8 155.2 149.2 149.1 171.6 12

 13 Corporate bonds 105.3 131.6 141.2 147.0 162.7 179.5 194.3 203.1 215.6 247.4 13

 14 Depository institution loans n.e.c. 33.1 45.7 37.4 38.4 51.6 54.8 62.3 64.3 50.6 33.5 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 0.1 0.2 0.4 0.7 1.0 1.4 1.9 2.6 3.3 4.1 16

 17 Miscellaneous liabilities 104.7 105.7 135.1 152.1 157.0 161.4 178.1 189.2 196.0 198.3 17

 18 Foreign direct investment in U.S. 1.4 3.6 3.5 2.7 9.3 4.6 5.6 4.2 10.2 6.0 18

 19 Investment by parent 60.6 70.9 59.4 36.8 35.2 36.7 32.4 34.3 35.6 41.8 19

 20 Other 42.8 31.2 72.2 112.7 112.4 120.1 140.1 150.6 150.3 150.5 20

 Memo:

 21 Consumer leases not included above (2) 8.6 11.4 13.7 16.6 19.4 26.1 33.5 39.0 49.3 67.5 21

(1) Includes retail captive finance companies and mortgage companies.

(2) See footnote (4), table L.125.
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Historical Annuals, 1985-1994, 81

L.127 Real Estate Investment Trusts (REITs) (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets 10.4 15.0 23.4 28.5 30.7 28.5 29.0 28.1 30.0 31.0 1

 2 Checkable deposits and currency 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 8.7 13.7 21.2 25.4 26.0 24.2 23.6 25.0 25.4 24.6 3

 4 Agency- and GSE-backed securities 2.8 7.7 14.2 16.7 17.6 16.5 16.6 15.9 15.6 9.2 4

 5 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.0 1.2 2.1 5

 6 Mortgages 5.9 5.9 7.0 8.7 8.4 7.7 7.0 8.1 8.6 13.3 6

 7 Home 0.3 0.3 0.3 0.4 0.4 0.4 0.4 1.1 2.2 5.1 7

 8 Multifamily residential 1.8 1.8 2.1 2.6 2.5 2.3 2.2 2.2 1.9 2.1 8

 9 Commercial 3.8 3.9 4.5 5.6 5.4 5.0 4.5 4.8 4.5 6.1 9

 10 Miscellaneous assets 1.7 1.3 2.2 3.1 4.7 4.3 5.4 3.1 4.6 6.4 10

 11 Total liabilities 8.3 14.1 22.5 28.4 29.1 28.9 31.5 33.5 37.2 55.1 11

 12 Security RPs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2.9 5.0 9.7 12

 13 Credit market instruments 7.6 13.3 21.3 24.8 26.9 27.7 28.6 28.2 29.9 40.0 13

 14 Open market paper 0.7 1.1 1.4 1.3 1.1 0.9 0.9 0.9 0.6 0.0 14

 15 Corporate bonds 3.7 8.5 15.3 17.1 18.0 18.1 17.9 18.2 16.8 15.3 15

 16 Depository institution loans n.e.c. 0.7 1.0 1.5 3.1 4.1 4.4 5.0 3.7 3.6 6.0 16

 17 Mortgages 2.5 2.8 3.1 3.4 3.7 4.3 4.8 5.4 8.9 18.7 17

 18 Miscellaneous liabilities 0.7 0.8 1.2 3.5 2.1 1.2 2.9 2.4 2.3 5.3 18

 Memo:

 19 Securitized assets included above 2.2 6.7 13.0 14.6 15.3 15.3 15.0 14.3 12.5 9.0 19

 20 Agency- and GSE-backed securities 2.2 6.7 13.0 14.6 15.3 15.3 15.0 13.7 11.4 6.4 20

 21 Home mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.6 1.1 2.5 21

 22 Multifamily residential mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 Commercial mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

(1) Additional detail on financial assets and liabilities for equity and mortgage REITs is available on L.127.e and L.127.m.
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82 Historical Annuals, 1985-1994,

L.128 Security Brokers and Dealers

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets 156.0 184.6 137.9 135.9 236.6 262.1 332.5 381.7 478.8 454.7 1

 2 Checkable deposits and currency 6.3 8.5 7.4 9.4 9.8 10.2 10.2 10.4 12.3 12.0 2

 3 Credit market instruments 58.2 66.3 39.8 23.5 103.7 106.5 124.0 122.7 137.5 93.3 3

 4 Open market paper 14.5 12.6 14.2 14.8 17.8 18.4 14.0 15.2 14.9 11.2 4

 5 Treasury securities -4.0 4.1 -16.7 -47.4 21.5 7.3 5.7 -7.7 -28.3 -42.7 5

 6 Agency- and GSE-backed securities 4.9 9.8 14.6 19.5 24.4 44.0 54.0 53.0 60.8 45.0 6

 7 Municipal securities 19.9 16.6 8.3 7.5 7.1 7.9 9.4 11.3 17.1 15.5 7

 8 Corporate and foreign bonds 22.9 23.2 19.4 29.1 32.9 28.9 40.9 50.9 73.0 64.4 8

 9 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Corporate equities 14.1 17.7 10.7 12.2 14.1 9.6 14.3 14.8 24.2 20.1 10

 11 Security credit 50.7 57.4 41.8 43.5 42.5 38.8 55.1 53.5 76.1 75.1 11

 12 Miscellaneous assets 26.8 34.7 38.2 47.2 66.5 97.0 129.0 180.4 228.6 254.2 12

 13 Total liabilities 141.3 164.3 114.5 111.5 213.2 239.2 308.7 352.8 460.6 429.1 13

 14 Security RPs (net) 23.7 35.6 -8.8 -21.9 64.2 81.0 106.7 106.4 126.4 103.4 14

 15 Credit market instruments 1.3 3.4 3.2 7.5 13.8 15.3 19.0 21.7 33.7 34.3 15

 16 Corporate bonds 1.3 3.4 3.2 7.5 13.8 15.3 19.0 21.7 33.7 34.3 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 8.0 7.6 6.8 8.5 8.0 6.1 6.8 7.4 10.1 9.1 18

 19 Security credit 80.5 83.6 73.5 74.8 91.4 98.6 133.8 164.2 202.9 203.9 19

 20 Customer credit balances (HH) 35.1 44.0 39.1 40.9 53.2 62.4 87.0 76.2 102.3 109.0 20

 21 From U.S.-chartered depository institutions 38.5 32.5 29.4 29.0 33.2 27.8 30.0 57.3 61.4 56.8 21

 22 From foreign banking offices in U.S. 7.0 7.1 5.0 4.9 5.0 8.4 16.8 30.7 39.3 38.1 22

 23 Taxes payable 0.8 0.9 0.4 0.5 0.6 0.7 0.9 0.9 1.4 1.2 23

 24 Miscellaneous liabilities 27.0 33.1 39.4 42.0 35.2 37.5 41.5 52.2 86.1 77.2 24

 25 Foreign direct investment in U.S. 3.8 3.6 3.1 4.8 6.3 3.8 5.8 5.3 23.7 14.0 25

 26 Investment by funding corporations 43.3 46.7 60.6 87.5 95.4 82.3 85.8 102.3 127.5 144.2 26

 27 Other -20.2 -17.2 -24.4 -50.3 -66.5 -48.6 -50.0 -55.4 -65.1 -81.0 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).
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Historical Annuals, 1985-1994, 83

L.129 Holding Companies (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets 259.5 286.3 297.6 319.0 338.7 325.4 328.6 363.3 407.6 438.8 1

 2 Time and savings deposits 20.2 20.4 18.5 18.8 18.9 4.6 2.4 1.4 1.3 0.9 2

 3 Federal funds and security RPs 0.0 0.0 0.0 0.0 0.0 0.4 1.4 1.3 0.8 1.0 3

 4 Credit market instruments 11.8 11.5 13.5 13.4 16.2 13.4 11.9 17.5 17.5 18.4 4

 5 Treasury securities 0.8 0.6 0.7 0.8 0.9 0.7 1.0 6.1 5.3 4.6 5

 6 Agency- and GSE-backed securities 2.1 1.7 2.1 2.1 2.4 1.9 2.4 2.2 3.1 4.8 6

 7 Corporate and foreign bonds 6.8 5.5 6.5 6.7 7.5 5.6 5.1 5.4 7.2 7.1 7

 8 Other loans and advances 2.1 3.6 4.1 3.9 5.5 5.3 3.4 3.7 1.9 1.8 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 227.4 254.3 265.6 286.7 303.6 307.0 312.9 343.1 388.0 418.6 10

 11 Net trans. with depository subs. 135.5 153.5 160.8 183.8 194.2 211.8 229.3 266.1 296.2 311.7 11

 12 Net trans. with property-casualty ins. 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 trans. with life insurance company subs. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Net trans. with finance company subs. 43.9 52.2 46.9 27.3 25.3 21.2 14.8 14.8 21.2 25.2 14

 15 Net trans. with broker and dealer subs. 27.3 27.3 38.9 59.0 67.0 48.5 41.3 38.7 46.6 47.3 15

 16 Net trans. with foreign subs. 16.6 15.3 11.8 10.1 8.3 7.9 10.3 4.5 6.8 14.6 16

 17 Other 4.2 6.0 7.3 6.6 8.8 17.7 17.3 19.1 17.3 19.8 17

 18 Total liabilities 122.2 144.4 160.6 166.2 175.8 148.4 136.8 140.4 147.8 164.1 18

 19 Federal funds and security RPs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.0 0.1 19

 20 Credit market instruments 118.7 130.0 145.0 149.9 155.2 124.6 118.5 118.4 128.0 141.5 20

 21 Commercial paper 46.4 43.1 44.6 44.4 48.8 30.1 24.3 20.4 25.6 31.6 21

 22 Corporate bonds 59.8 73.7 86.5 91.8 93.7 84.7 88.0 94.1 97.7 102.0 22

 23 Depository institution loans n.e.c. 12.5 13.2 13.9 13.6 12.7 9.8 6.2 3.8 4.6 7.9 23

 24 Miscellaneous liabilities 3.5 14.4 15.6 16.3 20.6 23.8 18.3 22.0 19.7 22.5 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.
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84 Historical Annuals, 1985-1994,

L.130 Funding Corporations (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets 123.5 134.5 171.7 203.3 218.6 235.6 268.4 327.4 331.1 356.5 1

 2 Money market fund shares 3.7 6.3 8.5 12.5 20.6 36.6 54.1 80.9 95.8 108.9 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 81.1 82.0 107.4 115.5 120.3 117.5 122.6 131.8 109.9 106.6 4

 5 Open market paper 81.1 82.0 107.4 115.5 120.3 117.5 122.6 131.8 105.9 92.6 5

 6 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4.0 14.0 6

 7 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 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 38.7 46.2 55.8 75.4 77.8 81.4 91.7 114.8 125.4 141.0 9

 10 Investment in foreign banking offices 22.7 26.9 34.1 46.9 49.5 47.6 47.2 51.1 44.5 44.1 10

 11 Investment in brokers and dealers 16.0 19.4 21.7 28.5 28.3 33.8 44.5 63.7 80.8 96.9 11

 12 Total liabilities 123.5 134.5 171.7 203.3 218.6 235.6 268.4 327.4 331.1 356.5 12

 13 Credit market instruments 38.7 58.7 79.7 117.8 130.3 147.1 143.1 168.6 180.3 211.0 13

 14 Open market paper 35.6 54.1 72.5 111.6 125.4 139.4 128.4 142.2 140.3 151.1 14

 15 Corporate bonds 3.1 4.6 7.2 6.2 4.9 7.7 14.7 26.4 40.0 60.0 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 84.8 75.8 92.0 85.6 88.4 88.5 125.3 158.9 150.8 145.4 18

 19 Foreign direct investment in U.S. 0.0 -12.4 -23.9 -42.4 -52.4 -65.7 -51.4 -53.8 -54.9 -70.1 19

 20 Securities loaned (net) 6.9 12.0 15.1 23.2 39.3 71.4 102.9 153.5 197.1 221.7 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) 78.0 76.2 100.8 104.8 101.5 82.7 73.7 59.1 8.6 -6.2 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.
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Historical Annuals, 1985-1994, 85

L.200 U.S. Official Reserve Assets and SDR Allocations (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total liabilities 37.5 43.4 41.7 43.3 70.0 79.2 73.7 67.0 69.1 70.4 1

 2 Federal government: SDR allocations 5.4 6.0 7.0 6.6 6.4 7.0 7.0 6.7 6.7 7.2 2

 3 Rest of the world 32.1 37.5 34.7 36.7 63.6 72.3 66.7 60.3 62.4 63.3 3

 4 SDR holdings 7.3 8.4 10.3 9.6 10.0 11.0 11.2 8.5 9.0 10.0 4

 5 Reserve position in IMF (net) 12.0 11.7 11.3 9.7 9.0 9.1 9.5 11.8 11.8 12.0 5

 6 Foreign currency holdings 12.9 17.3 13.1 17.4 44.6 52.2 45.9 40.0 41.5 41.2 6

 7 Total assets 48.6 54.5 52.8 54.4 81.0 90.3 84.7 78.1 80.2 81.5 7

 8 Federal government 25.1 28.0 29.1 27.7 32.3 39.7 39.1 38.8 40.2 41.4 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 7.3 8.4 10.3 9.6 10.0 11.0 11.2 8.5 9.0 10.0 10

 11 Reserve position in IMF (net) 12.0 11.8 11.4 9.8 9.1 9.1 9.6 11.9 11.9 12.1 11

 12 Foreign currency holdings 5.8 7.9 7.4 8.2 13.2 19.6 18.3 18.5 19.2 19.2 12

 13 Rest of the world: SDR allocations 5.4 6.0 7.0 6.6 6.4 7.0 7.0 6.7 6.7 7.2 13

 14 Monetary authority 18.1 20.5 16.7 20.1 42.3 43.6 38.6 32.5 33.3 33.0 14

 15 Monetary gold (2) 11.1 11.1 11.1 11.1 11.1 11.1 11.1 11.1 11.1 11.1 15

 16 Reserve position in IMF (net) -0.0 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 16

 17 Foreign currency holdings 7.0 9.5 5.7 9.1 31.3 32.6 27.6 21.5 22.3 22.0 17

 18 Discrepancy: monetary gold -11.1 -11.1 -11.1 -11.1 -11.1 -11.1 -11.1 -11.1 -11.1 -11.1 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 4.7 5.0 5.0 5.0 8.5 10.0 10.0 8.0 8.0 8.0 1

 2 Asset: Monetary authority 4.7 5.0 5.0 5.0 8.5 10.0 10.0 8.0 8.0 8.0 2

 Treasury currency:

 3 Liab: Federal government 13.3 13.8 14.2 14.7 15.3 16.3 16.3 16.5 17.0 17.6 3

 4 Asset: Monetary authority 17.1 17.6 18.2 18.8 19.6 20.4 21.0 21.4 22.1 23.0 4

 5 Discrepancy (seigniorage) -3.8 -3.8 -4.0 -4.1 -4.3 -4.1 -4.7 -4.9 -5.1 -5.3 5

L.202 U.S. Deposits in Foreign Countries

Billions of dollars

 1 Total rest of the world liability 148.5 179.9 213.3 228.7 266.8 297.9 273.5 267.7 271.8 373.9 1

 Held by:

 2 Household sector 7.8 8.8 9.8 10.7 11.9 13.4 14.6 15.6 15.8 18.8 2

 3 Nonfinancial corporate business 16.0 19.2 16.3 21.6 14.7 14.7 16.4 15.8 14.5 15.7 3

 4 Money market mutual funds 18.9 22.0 21.4 29.3 26.1 26.7 21.4 20.3 10.0 15.7 4

 5 Discrepancy--unallocated assets 105.8 129.9 165.9 167.1 214.2 243.1 221.1 216.1 231.6 323.7 5
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86 Historical Annuals, 1985-1994,

L.203 Net Interbank Transactions

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total liabilities -0.9 21.6 52.2 56.3 46.0 74.6 72.4 107.8 162.3 268.3 1

 2 Monetary authority 54.2 73.8 66.6 66.9 67.0 71.2 63.0 63.9 67.6 68.9 2

 3 U.S.-chartered depository institutions -66.6 -71.8 -49.5 -53.5 -71.0 -54.7 -45.6 -55.6 -23.2 61.8 3

 4 Foreign banking offices in U.S. 39.3 55.1 70.0 74.0 78.7 87.0 88.8 134.3 151.0 162.3 4

 5 Banks in U.S.-affiliated areas -4.5 -4.4 -3.6 -3.0 -2.6 -2.5 -1.8 -1.3 -1.0 -1.4 5

 6 Credit unions -23.3 -31.0 -31.4 -28.2 -26.0 -26.5 -32.1 -33.6 -32.1 -23.2 6

 7 Total assets 43.9 76.7 112.4 115.6 104.5 134.8 110.9 152.2 200.8 301.2 7

 8 Rest of the world -14.3 0.1 41.1 45.3 35.9 61.2 46.9 84.3 132.2 232.8 8

 9 Monetary authority 4.0 2.8 4.6 3.5 1.6 2.4 0.9 3.9 1.0 -0.5 9

 10 U.S.-chartered depository institutions 52.2 71.2 64.5 65.8 66.0 70.0 62.1 63.3 66.6 68.0 10

 11 Foreign banking offices in U.S. 2.0 2.6 2.2 1.1 1.0 1.2 0.9 0.7 1.0 1.0 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 -44.8 -55.1 -60.2 -59.4 -58.5 -60.3 -38.5 -44.4 -38.5 -32.8 13

 Memo:

 Vault cash:

 14 Liab.: Monetary authority 25.5 25.7 24.9 27.6 28.7 32.6 33.6 31.9 32.7 38.1 14

 15 Asset: U.S.-chartered depository institutions 25.5 25.7 24.9 27.6 28.7 32.6 33.6 31.9 32.7 38.1 15

 Depository institution reserves:

 16 Liab.: Monetary authority 28.6 48.1 41.8 39.3 38.3 38.7 29.4 32.1 35.0 30.8 16

 17 Asset: U.S.-chartered depository institutions 26.6 45.5 39.6 38.3 37.3 37.4 28.5 31.4 34.0 29.8 17

 18 Foreign banking offices in U.S. 2.0 2.6 2.2 1.1 1.0 1.2 0.9 0.7 1.0 1.0 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 4.0 2.8 4.6 3.5 1.6 2.4 0.9 3.9 1.0 -0.5 20

 21 Asset: Monetary authority 4.0 2.8 4.6 3.5 1.6 2.4 0.9 3.9 1.0 -0.5 21

 22 Federal Reserve float 1.0 1.3 0.8 1.3 1.1 2.2 0.7 3.3 0.9 -0.7 22

 23 Loans to member banks 3.1 1.6 3.8 2.2 0.5 0.2 0.2 0.7 0.1 0.2 23

 Transactions with banks in foreign countries (net):

 24 Liab.: U.S.-chartered depository institutions (net) -2.6 -6.2 10.0 12.3 4.3 21.0 15.3 -11.5 7.9 82.3 24

 25 Due to foreign affiliates 42.8 37.8 49.8 61.9 52.2 67.1 74.5 84.2 90.8 143.4 25

 26 - Due from foreign affiliates 45.5 44.0 39.8 49.6 47.9 46.1 59.2 95.6 82.9 61.1 26

 27 Foreign banking offices in U.S. (net) 2.3 19.2 42.0 43.5 40.3 48.4 42.7 105.1 134.3 161.3 27

 28 Due to foreign affiliates 43.0 61.6 74.7 75.0 61.8 69.6 75.1 84.6 83.0 84.3 28

 29 - Due from foreign affiliates 40.6 42.4 32.7 31.4 21.5 21.3 32.4 -20.5 -51.3 -77.0 29

 30 Less: Deposits at foreign banks 14.0 12.9 10.9 10.5 8.6 8.2 11.0 9.3 10.0 10.8 30

 31 U.S.-chartered depository institutions 12.6 11.6 9.7 9.6 7.2 6.5 9.4 7.7 8.4 8.0 31

 32 Foreign banking offices in U.S. 1.4 1.3 1.2 1.0 1.4 1.7 1.6 1.6 1.6 2.9 32

 33 Asset: Rest of the world (1) -14.3 0.1 41.1 45.3 35.9 61.2 46.9 84.3 132.2 232.8 33

 Transactions between U.S. depository institutions (net) (2):

 34 U.S.-chartered depository institutions (net) -55.4 -56.8 -54.4 -59.6 -69.7 -71.6 -52.4 -40.3 -23.7 -12.0 34

 35 Due to (3): 13.2 17.8 21.4 25.4 31.7 35.5 46.6 36.8 43.0 48.1 35

 36 Foreign banking offices in U.S. 30.2 37.5 46.7 53.7 61.5 66.8 51.2 46.4 48.4 56.3 36

 37 Banks in U.S.-affiliated areas 4.5 4.4 3.6 3.0 2.6 2.5 1.8 1.3 1.0 1.4 37

 38 Credit unions 23.3 31.0 31.4 28.2 26.0 26.5 32.1 33.6 32.1 23.2 38

 39 - Due from: Foreign banking offices in U.S. 68.6 74.7 75.8 85.1 101.4 107.1 99.0 77.2 66.7 60.2 39

 40 Unallocated (2) -44.8 -55.1 -60.2 -59.4 -58.5 -60.3 -38.5 -44.4 -38.5 -32.8 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.
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Historical Annuals, 1985-1994, 87

L.204 Checkable Deposits and Currency

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total liabilities 713.5 838.9 842.9 885.1 892.2 934.7 1022.5 1134.7 1252.0 1240.2 1

 2 Monetary authority 182.4 195.7 212.4 230.1 240.3 264.4 295.1 311.3 348.5 374.2 2

 3 Federal government cash and deposits 9.9 8.0 5.8 9.1 6.7 9.5 18.3 8.0 15.2 7.5 3

 4 Due to government-sponsored enterprises 0.0 0.9 1.0 0.5 1.2 0.2 1.6 0.2 0.3 0.8 4

 5 Deposits due to foreign 0.5 0.4 0.3 0.4 0.6 0.4 1.0 0.2 0.4 0.3 5

 6 Currency outside banks 171.9 186.3 205.3 220.1 231.8 254.4 274.2 302.8 332.6 365.7 6

 7 U.S.-chartered depository institutions 506.2 616.5 602.7 625.3 620.6 637.8 692.7 784.2 862.3 822.2 7

 8 Federal government deposits 25.8 27.5 21.6 29.0 25.6 30.9 36.4 30.6 42.6 23.8 8

 9 Deposits due to foreign 16.0 18.7 17.2 16.6 16.7 16.3 14.1 15.8 15.6 17.1 9

 10 Private domestic deposits 464.4 570.4 563.8 579.7 578.3 590.6 642.2 737.8 804.1 781.3 10

 11 Foreign banking offices in U.S. 7.3 8.3 7.6 8.7 8.4 8.7 8.9 8.3 8.3 8.8 11

 12 Deposits due to foreign 4.7 4.8 4.9 4.9 4.8 5.1 5.3 5.8 5.7 6.1 12

 13 Private domestic deposits 2.7 3.5 2.7 3.7 3.6 3.6 3.6 2.5 2.7 2.7 13

 14 Banks in U.S.-affiliated areas 4.9 5.4 5.4 5.6 6.1 5.4 5.2 5.8 6.1 6.2 14

 15 Credit unions 12.6 13.0 14.7 15.5 16.8 18.3 20.5 25.1 26.8 28.8 15

 16 Total assets 713.5 838.9 842.9 885.1 892.2 934.7 1022.5 1134.7 1252.0 1240.2 16

 17 Household sector 344.8 461.9 460.8 460.5 462.2 450.8 505.0 616.4 667.5 636.3 17

 18 Nonfinancial business 198.3 202.4 212.9 231.4 241.7 250.1 259.1 260.3 284.2 308.3 18

 19 Corporate 126.5 128.1 137.7 151.6 160.7 166.9 173.8 169.6 190.2 202.1 19

 20 Noncorporate 71.8 74.3 75.2 79.8 81.0 83.2 85.3 90.7 93.9 106.3 20

 21 State and local governments 14.8 17.3 16.5 24.9 25.2 24.0 30.4 31.6 33.6 35.3 21

 22 Federal government 34.0 32.8 21.4 32.1 25.6 25.4 50.9 31.7 52.2 27.8 22

 23 Rest of the world 54.4 59.6 62.0 65.6 69.5 85.8 97.2 109.8 126.2 148.6 23

 24 Checkable deposits 21.2 23.9 22.5 21.9 22.1 21.8 20.4 21.9 21.6 23.5 24

 25 Currency 33.3 35.7 39.5 43.7 47.4 64.0 76.8 87.9 104.5 125.1 25

 26 Financial sectors 28.1 33.8 34.4 40.4 39.2 53.2 41.0 41.4 47.5 47.8 26

 27 Property-casualty insurance companies 4.3 5.6 5.5 5.4 6.0 6.5 5.3 5.6 5.2 5.0 27

 28 Life insurance companies 5.1 5.8 4.9 4.6 5.0 4.9 5.5 4.8 5.2 5.6 28

 29 Private pension funds 3.3 1.9 1.7 4.5 4.1 3.3 3.0 3.0 3.2 4.0 29

 30 State and local govt. retirement funds 2.4 3.1 4.8 4.4 3.2 5.0 3.8 6.5 6.6 6.7 30

 31 Money market mutual funds 0.2 -0.0 -0.3 0.7 0.1 11.2 -0.2 -2.7 -1.2 -2.5 31

 32 Government-sponsored enterprises 2.1 3.7 3.6 3.6 2.3 2.1 1.2 1.2 2.1 1.3 32

 33 Finance companies 4.4 5.4 6.7 7.9 8.7 9.9 12.2 12.6 14.1 15.5 33

 34 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 34

 35 Brokers and dealers 6.3 8.5 7.4 9.4 9.8 10.2 10.2 10.4 12.3 12.0 35

 36 Mail float 39.0 31.0 34.8 30.2 28.8 45.6 38.9 43.5 41.0 36.0 36
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88 Historical Annuals, 1985-1994,

L.205 Time and Savings Deposits 

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total liabilities 2341.6 2471.0 2590.2 2782.5 2898.3 2896.1 2839.2 2708.8 2614.9 2597.1 1

 2 Small time and savings deposits 1853.1 1978.9 2048.3 2187.4 2285.3 2349.2 2350.8 2293.6 2223.2 2185.8 2

 3 U.S.-chartered depository institutions 1730.7 1827.6 1885.1 2012.2 2101.7 2150.0 2135.3 2061.9 1982.8 1940.3 3

 4 Foreign banking offices in U.S. 4.9 7.1 7.8 8.3 12.0 11.0 11.0 11.2 10.4 9.3 4

 5 Banks in U.S.-affiliated areas 5.8 6.3 6.2 6.4 7.0 9.1 8.1 8.5 8.2 9.0 5

 6 Credit unions 111.7 137.8 149.2 160.5 164.7 179.1 196.5 212.0 221.8 227.3 6

 7 Large time deposits (1) 488.5 492.1 541.9 595.1 613.0 546.9 488.4 415.2 391.7 411.2 7

 8 U.S.-chartered depository institutions 450.9 445.8 491.5 537.8 547.6 485.2 376.9 292.8 269.1 284.9 8

 9 Foreign banking offices in U.S. 30.7 38.3 42.1 48.4 52.9 49.2 99.3 108.2 107.4 110.0 9

 10 Banks in U.S.-affiliated areas 5.8 6.3 6.2 6.4 7.0 9.1 8.1 8.5 8.2 9.0 10

 11 Credit unions 1.2 1.8 2.1 2.5 5.5 3.4 4.2 5.8 6.9 7.3 11

 12 Total assets 2341.6 2471.0 2590.2 2782.5 2898.3 2896.1 2839.2 2708.8 2614.9 2597.1 12

 13 Household sector 2001.9 2102.5 2217.4 2392.7 2466.9 2512.1 2440.8 2333.0 2218.3 2181.4 13

 14 Nonfinancial business 109.9 127.8 126.3 129.2 129.0 125.6 130.8 136.2 155.6 163.5 14

 15 Corporate 69.3 85.5 85.9 82.3 80.6 74.6 77.6 76.0 92.0 96.4 15

 16 Noncorporate 40.6 42.3 40.4 47.0 48.4 51.0 53.2 60.2 63.6 67.2 16

 17 State and local governments 65.9 68.2 75.3 73.4 70.6 67.5 56.5 50.3 48.8 55.3 17

 18 Federal government 1.2 1.4 1.7 1.4 1.3 1.4 1.6 0.9 0.8 0.7 18

 19 Rest of the world 33.7 31.3 32.1 35.5 40.2 39.5 39.3 38.2 45.1 46.6 19

 20 Financial sectors 128.9 139.7 137.4 150.3 190.3 149.9 170.3 150.2 146.3 149.6 20

 21 Private pension funds 76.6 87.0 76.2 87.1 114.6 110.4 115.9 98.8 95.4 102.1 21

 22 State and local govt. retirement funds 13.3 9.9 5.2 7.1 9.1 7.7 8.8 6.9 6.2 2.5 22

 23 Money market mutual funds 17.3 20.1 34.5 33.8 43.0 21.9 35.1 34.6 31.9 31.4 23

 24 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 Finance companies 1.5 2.3 2.9 3.4 4.7 5.3 8.1 8.4 11.5 12.7 25

 26 Holding companies 20.2 20.4 18.5 18.8 18.9 4.6 2.4 1.4 1.3 0.9 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 242.4 290.6 313.8 335.0 424.7 493.3 535.0 539.5 559.6 600.1 1

 2 Household sector 196.3 235.1 256.0 273.0 351.1 389.4 407.7 365.5 363.5 373.1 2

 3 Nonfinancial corporate business 14.5 14.9 15.8 10.3 10.4 19.7 24.1 37.6 33.9 37.1 3

 4 Nonfinancial noncorporate business 0.0 3.2 3.1 5.3 5.8 6.7 7.4 9.7 10.9 15.1 4

 5 State and local governments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.8 5.9 5

 6 Rest of the world 0.0 0.0 0.0 0.0 0.4 1.2 2.0 2.7 3.5 4.3 6

 7 Property-casualty insurance companies 8.3 8.3 8.6 9.8 9.7 10.8 9.4 11.4 11.1 10.3 7

 8 Life insurance companies 9.1 10.0 6.9 7.0 6.2 8.4 8.5 8.7 8.8 8.9 8

 9 Private pension funds 9.1 11.0 12.8 14.8 17.8 17.8 18.8 19.8 26.3 31.6 9

 10 State and local govt. retirement funds 1.4 1.7 2.0 2.3 2.8 2.8 3.0 3.1 4.1 5.0 10

 11 Funding corporations 3.7 6.3 8.5 12.5 20.6 36.6 54.1 80.9 95.8 108.9 11
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Historical Annuals, 1985-1994, 89

L.207 Federal Funds and Security Repurchase Agreements

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total liabilities 235.6 281.7 277.7 303.2 376.7 351.2 337.5 377.0 444.4 516.9 1

 2 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Private depository institutions (net) 211.8 246.2 286.5 325.1 312.5 270.2 230.8 267.6 312.9 403.7 3

 4 U.S.-chartered depository institutions (net) 212.6 240.9 281.3 315.6 303.8 255.2 205.6 242.2 286.7 368.5 4

 5 Foreign banking offices in U.S. (net) 7.6 16.1 14.4 18.9 21.2 29.6 38.4 39.0 34.7 41.4 5

 6 Credit unions (net) -8.4 -10.9 -9.2 -9.4 -12.5 -14.6 -13.2 -13.5 -8.5 -6.2 6

 7 Property-casualty insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2.9 5.0 9.7 9

 10 Brokers and dealers (net) 23.7 35.6 -8.8 -21.9 64.2 81.0 106.7 106.4 126.4 103.4 10

 11 Holding companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.0 0.1 11

 12 Total assets 168.5 204.1 213.7 227.5 289.4 321.1 351.1 385.7 413.1 426.7 12

 13 Nonfinancial corporate business 3.4 5.1 3.4 5.0 2.8 2.1 1.6 5.1 2.5 2.2 13

 14 State and local governments 74.1 79.0 90.9 89.9 106.0 111.8 118.4 123.1 133.7 118.6 14

 15 Rest of the world (net) 7.5 10.9 13.1 13.0 23.1 19.7 20.9 41.7 58.6 46.6 15

 16 Monetary authority 5.2 16.0 5.0 6.9 2.1 18.4 15.9 8.1 13.2 10.6 16

 17 Property-casualty insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 Private pension funds 19.2 20.9 20.4 22.7 24.8 23.5 27.2 27.4 28.3 22.2 19

 20 State and local govt. retirement funds 5.0 8.3 11.3 10.2 9.7 12.2 18.9 24.7 20.4 27.8 20

 21 Money market mutual funds 25.9 31.9 38.9 41.2 54.3 58.2 67.0 65.9 66.4 68.8 21

 22 Mutual funds 1.3 2.8 3.6 4.9 4.8 6.1 12.2 21.9 38.7 43.1 22

 23 Government-sponsored enterprises (net) 26.9 29.4 27.2 33.8 61.8 68.7 67.6 66.6 50.3 85.8 23

 24 Holding companies 0.0 0.0 0.0 0.0 0.0 0.4 1.4 1.3 0.8 1.0 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 67.1 77.6 63.9 75.7 87.3 30.1 -13.6 -8.7 31.3 90.1 26
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90 Historical Annuals, 1985-1994,

L.208 Open Market Paper

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total outstanding, all types 358.5 384.9 437.9 513.4 579.2 609.9 565.9 579.0 580.0 623.5 1

 2 Commercial paper 293.9 326.1 373.6 451.8 521.9 557.8 528.1 545.1 553.8 600.1 2

 3 Nonfinancial corporate business 72.2 62.9 73.8 85.7 107.1 116.9 98.5 107.1 117.8 139.2 3

 4 Foreign issues in U.S. 33.9 37.4 41.2 49.9 63.0 75.3 82.1 78.4 68.8 42.7 4

 5 Nonfinancial 8.0 10.1 12.5 12.0 16.3 20.6 26.1 30.6 27.5 15.2 5

 6 Financial 26.0 27.3 28.7 38.0 46.7 54.8 56.0 47.8 41.3 27.5 6

 7 Financial business 187.8 225.9 258.6 316.1 351.7 365.6 347.5 359.6 367.1 418.2 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 2.4 3.3 5.1 6.8 15.7 31.4 38.7 46.9 51.6 63.9 9

 10 Finance companies 102.7 124.3 135.0 152.1 160.7 163.8 155.2 149.2 149.1 171.6 10

 11 REITs 0.7 1.1 1.4 1.3 1.1 0.9 0.9 0.9 0.6 0.0 11

 12 Holding companies 46.4 43.1 44.6 44.4 48.8 30.1 24.3 20.4 25.6 31.6 12

 13 Funding corporations 35.6 54.1 72.5 111.6 125.4 139.4 128.4 142.2 140.3 151.1 13

 14 Bankers’ acceptances (1) 64.6 58.8 64.3 61.6 57.4 52.1 37.8 33.9 26.3 23.4 14

 15 U.S.-chartered depository institutions 40.2 31.5 30.5 27.2 22.0 17.6 12.9 12.8 10.2 10.0 15

 16 Foreign banking offices in U.S. 24.4 27.2 33.8 34.4 35.4 34.5 24.9 21.2 16.0 13.4 16

 17 Holdings, by sector 358.5 384.9 437.9 513.4 579.2 609.9 565.9 579.0 580.0 623.5 17

 18 Household sector 56.5 56.1 55.3 93.6 87.9 93.7 58.5 52.7 65.0 69.7 18

 19 Nonfinancial corporate business 10.5 10.2 15.0 13.6 14.3 13.8 14.7 17.0 19.4 18.8 19

 20 State and local governments 0.0 0.0 0.2 0.7 1.6 4.0 9.0 14.1 17.9 22.3 20

 21 Rest of the world 8.2 8.0 9.0 11.8 12.7 10.7 11.3 12.9 18.8 24.9 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) 12.0 12.8 13.3 13.4 12.5 9.3 8.8 6.5 5.2 3.7 23

 24 Foreign banking offices in U.S. (1) 1.2 1.0 2.2 1.7 2.1 4.1 3.1 3.3 2.4 2.2 24

 25 Credit unions 0.2 0.7 0.5 0.9 1.1 2.3 2.6 3.0 2.2 2.1 25

 26 Property-casualty insurance companies 11.8 11.9 12.3 14.0 13.9 15.5 13.5 16.3 15.9 14.7 26

 27 Life insurance companies 29.1 34.5 34.0 39.2 42.8 45.7 45.8 43.2 46.9 52.8 27

 28 Private pension funds 22.1 26.4 33.6 27.5 26.9 26.4 29.7 29.5 30.2 24.0 28

 29 State and local govt. retirement funds 5.0 8.3 11.3 10.2 9.7 12.2 18.9 24.7 20.4 27.8 29

 30 Money market mutual funds 98.4 104.4 110.1 127.5 184.5 204.0 190.6 173.6 164.4 187.2 30

 31 Mutual funds 7.9 15.8 19.5 28.6 28.0 28.5 12.2 21.9 38.7 43.1 31

 32 Government-sponsored enterprises 0.1 0.1 0.0 0.4 3.3 3.8 10.9 13.5 11.9 26.3 32

 33 Brokers and dealers 14.5 12.6 14.2 14.8 17.8 18.4 14.0 15.2 14.9 11.2 33

 34 Funding corporations 81.1 82.0 107.4 115.5 120.3 117.5 122.6 131.8 105.9 92.6 34

(1) Excludes banks’ holdings of own acceptances.
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Historical Annuals, 1985-1994, 91

L.209 Treasury Securities

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total liabilities 1586.6 1802.2 1944.6 2082.3 2227.0 2465.8 2757.8 3061.6 3309.9 3465.6 1

 2 Savings bonds 79.8 93.3 101.1 109.6 117.7 126.2 138.1 157.3 171.9 179.9 2

 3 Treasury bills 399.9 426.7 389.5 414.0 430.6 527.4 590.4 657.7 714.6 733.8 3

 4 Other Treasury securities 1106.9 1282.2 1454.0 1558.8 1678.7 1812.1 2029.3 2246.6 2423.3 2551.9 4

 5 Total assets 1586.6 1802.2 1944.6 2082.3 2227.0 2465.8 2757.8 3061.6 3309.9 3465.6 5

 6 Household sector 282.2 270.9 308.2 393.5 394.9 504.0 535.5 627.3 673.2 871.0 6

 7 Savings bonds 79.8 93.3 101.1 109.6 117.7 126.2 138.1 157.3 171.9 179.9 7

 8 Bills and other Treasury securities 202.5 177.6 207.1 283.9 277.2 377.8 397.4 470.1 501.3 691.1 8

 9 Nonfinancial corporate business 41.1 40.3 31.8 27.9 51.4 37.6 43.4 60.6 48.8 50.8 9

 10 Nonfinancial noncorporate business 5.8 10.8 9.8 10.3 11.9 12.5 12.2 13.0 13.6 18.3 10

 11 State and local governments 258.7 315.7 357.6 364.3 369.1 410.6 435.5 418.2 447.8 370.0 11

 12 Rest of the world 226.4 269.4 296.3 353.8 423.7 438.4 476.3 520.3 594.6 632.6 12

 13 Treasury bills 69.1 90.4 101.7 115.1 91.1 96.8 110.7 127.6 176.7 162.9 13

 14 Other Treasury securities 157.3 179.0 194.6 238.8 332.6 341.6 365.6 392.7 417.8 469.6 14

 15 Monetary authority 177.8 197.6 218.9 233.7 226.8 235.1 266.5 295.0 332.0 364.5 15

 16 Treasury bills 85.4 103.8 107.7 112.8 104.6 112.5 132.6 141.8 160.4 177.4 16

 17 Other Treasury securities 92.4 93.9 111.2 120.9 122.2 122.6 133.9 153.2 171.6 187.1 17

 18 U.S.-chartered depository institutions 217.1 226.5 233.0 210.9 182.5 183.3 232.7 288.3 303.2 275.1 18

 19 Foreign banking offices in U.S. 4.8 6.9 6.5 6.6 6.4 11.4 20.8 29.6 36.1 32.7 19

 20 Banks in U.S.-affiliated areas 1.2 1.7 1.7 1.9 2.2 2.5 2.8 4.3 5.8 5.1 20

 21 Credit unions 6.2 8.0 11.2 14.4 12.1 8.5 14.1 19.9 22.6 22.1 21

 22 Property-casualty insurance companies 32.3 46.1 54.7 64.2 75.2 83.6 108.1 113.6 129.3 137.4 22

 23 Treasury bills 3.5 3.6 3.7 4.2 4.2 4.6 4.0 4.9 4.8 4.4 23

 24 Other Treasury securities 28.8 42.6 51.0 60.0 71.0 79.0 104.0 108.7 124.5 133.0 24

 25 Life insurance companies 51.7 59.0 57.1 58.6 52.9 59.2 77.8 88.8 110.0 107.1 25

 26 Treasury bills 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

 27 Other Treasury securities 51.7 59.0 57.1 58.6 52.9 59.2 77.8 88.8 110.0 107.1 27

 28 Private pension funds 128.6 112.8 113.0 112.7 122.4 122.4 117.1 108.7 104.3 121.1 28

 29 State and local govt. retirement funds 85.4 115.3 138.9 150.7 152.4 168.2 165.5 203.5 217.5 215.6 29

 30 Federal government retirement funds 0.0 0.0 1.1 2.7 4.9 7.3 9.8 12.7 15.4 19.0 30

 31 Money market mutual funds 24.4 27.8 14.1 11.4 14.6 44.9 78.3 78.4 79.4 66.1 31

 32 Treasury bills 20.4 20.4 4.9 5.1 7.4 25.5 47.6 47.3 53.2 44.5 32

 33 Other Treasury securities 4.0 7.4 9.2 6.3 7.3 19.4 30.6 31.2 26.3 21.6 33

 34 Mutual funds 38.8 71.2 84.1 80.3 81.4 87.1 103.9 110.4 134.0 130.5 34

 35 Closed-end funds 0.6 1.0 1.6 4.8 6.6 6.8 10.0 11.6 13.7 12.8 35

 36 Exchange-traded funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 36

 37 Government-sponsored enterprises 6.8 16.3 21.0 26.3 13.0 34.3 40.8 58.7 51.6 51.9 37

 38 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 38

 39 Brokers and dealers -4.0 4.1 -16.7 -47.4 21.5 7.3 5.7 -7.7 -28.3 -42.7 39

 40 Holding companies 0.8 0.6 0.7 0.8 0.9 0.7 1.0 6.1 5.3 4.6 40

 Memo:

 41 Federal government debt (1) 1589.9 1805.9 1949.8 2104.9 2251.2 2498.1 2776.4 3080.3 3336.5 3492.3 41

(1) Total Treasury securities (line 1) plus budget agency securities (table L.210, line 2) and federal mortgage debt (table L.217, line 11).
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92 Historical Annuals, 1985-1994,

L.210 Agency- and GSE-Backed Securities (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total liabilities 628.9 808.2 977.8 1116.0 1267.1 1445.9 1577.9 1734.4 1907.5 2200.2 1

 2 Budget agencies 3.2 3.6 5.1 22.6 24.2 32.4 18.6 18.8 26.6 26.7 2

 3 Government-sponsored enterprises 257.8 273.0 303.2 348.1 373.3 393.7 402.9 443.6 524.2 701.0 3

 4 Agency- and GSE-backed mortgage pools 367.9 531.6 669.4 745.3 869.5 1019.9 1156.5 1272.0 1356.8 1472.4 4

 5 Total assets 628.9 808.2 977.8 1116.0 1267.1 1445.9 1577.9 1734.4 1907.5 2200.2 5

 6 Household sector 23.4 23.3 32.1 51.8 74.8 117.3 115.5 114.4 58.3 187.4 6

 7 Nonfinancial corporate business 4.0 2.4 2.6 6.0 9.2 3.3 5.1 8.6 19.1 19.9 7

 8 State and local governments 105.1 103.7 108.9 131.7 162.6 151.0 162.7 174.9 175.0 186.6 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 17.5 25.0 28.3 34.2 47.2 49.4 58.5 71.4 103.2 106.8 10

 11 Monetary authority 8.2 7.8 7.6 7.6 6.5 6.3 6.0 5.4 4.6 3.6 11

 12 U.S.-chartered depository institutions 221.0 303.8 375.3 425.1 431.0 460.6 466.2 503.2 543.6 558.0 12

 13 Foreign banking offices in U.S. 1.1 2.6 3.8 4.9 5.2 7.2 11.2 14.1 21.5 23.0 13

 14 Banks in U.S.-affiliated areas 0.0 0.0 0.0 0.4 0.8 0.9 1.0 2.1 2.3 2.8 14

 15 Credit unions 7.0 8.8 8.8 7.1 6.3 14.4 19.6 28.7 36.3 40.9 15

 16 Property-casualty insurance companies 22.2 22.3 22.3 22.6 26.0 32.0 42.1 42.6 44.5 45.8 16

 17 Life insurance companies 49.4 60.0 67.0 75.7 100.8 121.0 164.2 193.0 222.8 234.1 17

 18 Private pension funds 67.1 59.2 72.3 86.7 110.5 133.1 146.0 156.5 170.6 211.5 18

 19 State and local govt. retirement funds 38.1 38.1 43.0 35.3 51.2 62.9 58.0 39.8 35.8 39.9 19

 20 Federal government retirement funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.4 0.5 20

 21 Money market mutual funds 18.0 15.0 26.7 18.2 20.8 36.4 40.6 54.3 67.8 77.2 21

 22 Mutual funds 26.1 63.4 66.2 62.8 64.5 72.6 96.7 147.0 172.6 165.8 22

 23 Government-sponsored enterprises 0.8 0.2 0.1 0.3 6.3 11.9 34.8 47.5 66.0 130.8 23

 24 ABS issuers 10.2 53.5 81.8 107.1 99.1 103.3 76.6 60.0 83.6 106.7 24

 25 REITs 2.8 7.7 14.2 16.7 17.6 16.5 16.6 15.9 15.6 9.2 25

 26 Brokers and dealers 4.9 9.8 14.6 19.5 24.4 44.0 54.0 53.0 60.8 45.0 26

 27 Holding companies 2.1 1.7 2.1 2.1 2.4 1.9 2.4 2.2 3.1 4.8 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 41.
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Historical Annuals, 1985-1994, 93

L.211 Municipal Securities and Loans

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total liabilities 859.5 920.4 1012.0 1080.0 1129.8 1178.6 1272.1 1295.4 1361.7 1325.8 1

 2 State and local governments 651.1 724.9 817.7 884.0 931.6 977.8 1068.6 1085.2 1143.9 1097.9 2

 3 Short-term (1) 20.5 20.4 19.6 21.5 24.8 27.8 34.7 33.6 35.4 33.2 3

 4 Long-term 630.6 704.5 798.1 862.5 906.8 950.0 1033.9 1051.6 1108.5 1064.7 4

 5 Nonprofit organizations (2) 81.3 78.4 78.1 79.6 82.7 85.7 89.5 91.9 93.0 96.1 5

 6 Nonfinancial corporate business 127.0 117.1 116.2 116.4 115.5 115.2 114.0 118.3 124.9 131.7 6

 (industrial revenue bonds)

 7 Total assets 859.5 920.4 1012.0 1080.0 1129.8 1178.6 1272.1 1295.4 1361.7 1325.8 7

 8 Household sector 395.1 410.9 516.6 586.0 613.3 647.7 701.8 672.2 640.8 594.1 8

 9 Nonfinancial corporate business 25.6 25.1 19.4 16.8 32.4 24.7 44.8 45.8 54.7 56.7 9

 10 Nonfinancial noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.5 1.6 10

 11 State and local governments 9.6 10.4 10.2 10.3 10.8 11.6 11.6 10.5 9.5 8.6 11

 12 Rest of the world 1.2 1.4 1.6 1.8 2.0 2.2 2.4 2.6 2.8 3.0 12

 13 U.S.-chartered depository institutions 234.5 205.8 176.7 153.8 135.8 119.8 105.1 99.1 101.0 99.0 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 0.6 0.6 0.6 0.7 0.6 0.6 0.5 0.5 0.2 0.6 15

 16 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Property-casualty insurance companies 88.2 101.9 124.8 134.1 134.8 136.9 126.8 134.3 146.1 153.8 17

 18 Life insurance companies 9.7 11.7 10.7 9.1 9.0 12.3 10.2 11.4 14.7 12.8 18

 19 State and local govt. retirement funds 1.1 0.7 0.8 0.5 0.3 0.5 0.6 0.4 1.4 1.1 19

 20 Money market mutual funds 36.4 64.1 61.8 66.1 70.1 84.0 90.6 96.0 105.6 113.4 20

 21 Mutual funds 34.9 67.0 74.8 82.9 98.6 112.6 139.7 168.4 211.3 207.0 21

 22 Closed-end funds 1.0 2.0 3.3 7.5 12.1 14.1 25.4 39.7 51.8 53.4 22

 23 Exchange-traded funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 Government-sponsored enterprises 1.6 2.3 2.4 2.9 2.9 3.7 3.0 3.2 3.1 5.2 24

 25 Brokers and dealers 19.9 16.6 8.3 7.5 7.1 7.9 9.4 11.3 17.1 15.5 25

(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).
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94 Historical Annuals, 1985-1994,

L.212 Corporate and Foreign Bonds

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total liabilities 886.4 1116.4 1282.0 1447.6 1603.5 1732.8 1915.6 2096.5 2509.0 2715.8 1

 2 Nonfinancial corporate business 578.2 705.4 784.1 887.2 961.1 1008.2 1086.9 1154.5 1337.9 1428.5 2

 3 Rest of the world (1) 75.0 85.7 93.9 104.2 116.9 144.7 176.8 200.8 309.7 310.4 3

 4 Financial sectors 233.1 325.4 404.0 456.1 525.5 580.0 651.9 741.2 861.4 976.9 4

 5 U.S.-chartered depository institutions 25.1 32.3 37.3 38.9 38.3 36.9 33.8 39.0 41.1 43.7 5

 6 ABS issuers (net) (2) 34.8 71.4 113.2 147.6 194.1 237.8 284.2 338.7 416.5 474.3 6

 7 Finance companies 105.3 131.6 141.2 147.0 162.7 179.5 194.3 203.1 215.6 247.4 7

 8 REITs 3.7 8.5 15.3 17.1 18.0 18.1 17.9 18.2 16.8 15.3 8

 9 Brokers and dealers 1.3 3.4 3.2 7.5 13.8 15.3 19.0 21.7 33.7 34.3 9

 10 Holding companies 59.8 73.7 86.5 91.8 93.7 84.7 88.0 94.1 97.7 102.0 10

 11 Funding corporations 3.1 4.6 7.2 6.2 4.9 7.7 14.7 26.4 40.0 60.0 11

 12 Total assets (3) 886.4 1116.4 1282.0 1447.6 1603.5 1732.8 1915.6 2096.5 2509.0 2715.8 12

 13 Household sector 94.7 127.8 144.6 135.1 178.1 237.6 270.9 283.2 428.8 534.8 13

 14 State and local governments 8.0 10.0 12.0 13.0 15.0 16.0 18.0 20.9 26.5 31.9 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 (4) 110.7 154.9 173.2 187.4 207.8 208.7 236.0 246.0 261.4 273.5 16

 17 MBS and other ABS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Other 110.7 154.9 173.2 187.4 207.8 208.7 236.0 246.0 261.4 273.5 18

 19 U.S.-chartered depository institutions 74.1 99.7 144.5 174.0 152.8 141.0 142.4 146.6 155.7 152.7 19

 20 MBS and other ABS 0.4 3.7 19.4 24.4 28.9 30.3 58.9 51.9 54.8 54.3 20

 21 Other 73.7 96.0 125.1 149.6 123.9 110.7 83.5 94.7 101.0 98.5 21

 22 Foreign banking offices in U.S. 6.3 11.3 14.4 13.7 14.7 17.7 21.4 22.4 23.8 28.9 22

 23 Banks in U.S.-affiliated areas 0.7 0.9 0.9 0.0 0.1 0.0 0.1 0.4 0.6 0.5 23

 24 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 MBS and other ABS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 Other 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

 27 Property-casualty insurance companies 33.9 48.0 55.5 65.7 79.3 89.2 97.2 97.8 103.1 110.1 27

 28 MBS and other ABS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

 29 Other 33.9 48.0 55.5 65.7 79.3 89.2 97.2 97.8 103.1 110.1 29

 30 Life insurance companies 280.6 321.4 388.3 457.5 511.0 566.9 595.1 653.9 719.5 779.4 30

 31 MBS and other ABS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

 32 Other 280.6 321.4 388.3 457.5 511.0 566.9 595.1 653.9 719.5 779.4 32

 33 Private pension funds 97.2 124.0 120.1 125.6 137.8 157.5 178.7 206.5 233.7 227.1 33

 34 State and local govt. retirement funds 107.4 119.1 119.5 138.2 152.6 142.1 144.7 156.9 179.0 179.1 34

 35 Federal government retirement funds 0.0 0.0 0.0 0.0 0.0 0.1 0.2 0.2 0.4 0.4 35

 36 Money market mutual funds 1.0 1.8 2.2 2.3 3.7 2.0 3.8 6.3 11.7 15.2 36

 37 Mutual funds 22.2 42.4 46.6 49.8 54.6 59.3 87.7 118.7 169.3 172.4 37

 38 Closed-end funds 2.5 3.9 6.1 16.5 16.7 15.7 14.1 18.3 24.2 19.8 38

 39 Exchange-traded funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 39

 40 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11.1 20.0 40

 41 MBS and other ABS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11.1 20.0 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 Finance companies 17.3 22.4 28.1 32.9 39.0 44.4 59.3 61.2 74.8 82.4 43

 44 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.0 1.2 2.1 44

 45 Brokers and dealers 22.9 23.2 19.4 29.1 32.9 28.9 40.9 50.9 73.0 64.4 45

 46 Holding companies 6.8 5.5 6.5 6.7 7.5 5.6 5.1 5.4 7.2 7.1 46

 47 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4.0 14.0 47

(1) Holdings of foreign issues by U.S. residents.

(2) Liabilities net of assets.

(3) For some sectors, holdings of MBS and other ABS are shown separately. MBS and other ABS include privately issued mortgage-backed securities and other privately issued asset-backed bonds.

(4) Holdings of U.S. issues by foreign residents.
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Historical Annuals, 1985-1994, 95

L.213 Corporate Equities (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Issues at market value 2270.4 2682.2 2710.3 3075.6 3813.0 3531.3 4847.8 5422.0 6296.9 6317.5 1

 2 Nonfinancial corporate business 1916.9 2240.8 2286.7 2558.1 3138.6 2955.8 3998.5 4361.2 4842.3 4796.8 2

 3 Rest of the world (2) 44.4 72.4 94.7 128.7 197.3 197.6 279.0 314.3 543.9 626.8 3

 4 Financial corporations 309.1 369.0 328.9 388.9 477.0 377.9 570.3 746.5 910.7 893.9 4

 5 Holdings at market value 2270.4 2682.2 2710.3 3075.6 3813.0 3531.3 4847.8 5422.0 6296.9 6317.5 5

 6 Household sector 1229.5 1494.0 1462.6 1757.1 2147.5 1961.4 2759.2 3094.2 3437.0 3294.2 6

 7 State and local governments 0.0 0.2 0.7 1.7 3.3 4.8 6.3 7.8 9.3 10.6 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) 136.8 183.2 189.0 213.4 275.7 242.6 291.2 308.8 341.0 352.8 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 5.2 7.0 7.0 8.5 15.7 10.9 14.1 14.7 16.8 13.3 11

 12 Foreign banking offices in U.S. 0.1 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Property-casualty insurance companies 57.0 61.2 65.1 71.4 84.0 79.9 94.1 97.3 103.4 111.7 13

 14 Life insurance companies 74.0 76.4 80.5 81.4 91.8 81.9 135.8 151.6 205.8 231.4 14

 15 Private pension funds 515.8 523.5 532.6 515.2 635.5 605.9 806.2 873.7 1014.3 1013.7 15

 16 State and local govt. retirement funds 120.1 150.2 170.1 212.6 277.8 284.6 395.0 431.7 506.2 521.7 16

 17 Federal government retirement funds 0.0 0.0 0.0 0.0 0.1 0.3 1.0 2.4 4.4 6.2 17

 18 Mutual funds 113.7 161.2 181.7 187.6 250.5 233.2 308.9 401.3 607.4 709.6 18

 19 Closed-end funds 4.2 7.5 10.4 14.3 17.1 16.2 21.8 23.8 26.5 31.9 19

 20 Exchange-traded funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.5 0.4 20

 21 Brokers and dealers 14.1 17.7 10.7 12.2 14.1 9.6 14.3 14.8 24.2 20.1 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) 2145.4 2516.4 2522.4 2840.5 3484.7 3217.1 4424.6 4957.1 5581.6 5513.3 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 245.9 426.5 480.2 500.5 589.6 608.4 769.5 992.5 1375.4 1477.3 1

 2 Holdings at market value 245.9 426.5 480.2 500.5 589.6 608.4 769.5 992.5 1375.4 1477.3 2

 3 Household sector 213.8 378.7 424.5 439.1 513.0 511.5 645.0 799.4 1098.0 1096.6 3

 4 Nonfinancial corporate business 10.8 15.7 12.8 10.6 11.7 9.7 14.8 21.1 29.8 31.1 4

 5 State and local governments 0.0 0.0 0.0 0.1 1.5 4.8 9.4 14.9 21.3 29.1 5

 6 Rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 5.8 17.4 29.0 40.6 6

 7 U.S.-chartered depository institutions 0.0 0.0 0.0 0.0 2.2 1.9 3.7 3.4 3.9 2.0 7

 8 Credit unions 0.0 0.0 1.8 1.4 1.2 1.4 2.6 4.1 4.2 2.6 8

 9 Property-casualty insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.3 9

 10 Life insurance companies 3.5 14.5 12.1 18.5 19.1 30.7 8.6 18.2 21.3 24.4 10

 11 Private pension funds 11.1 12.1 19.9 23.4 33.0 40.5 66.4 96.2 142.2 205.9 11

 12 State and local govt. retirement funds 6.8 5.5 9.1 7.4 7.8 7.8 13.1 17.9 25.6 44.8 12

(1) Shares of open-end investment companies; excludes shares of money market mutual funds, exchange-traded funds, and funding vehicles for variable annuities.
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96 Historical Annuals, 1985-1994,

L.215 Depository Institution Loans Not Elsewhere Classified (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total liabilities 678.0 756.2 758.7 808.3 864.7 856.2 811.0 793.0 786.5 849.1 1

 2 Household sector 25.4 22.9 24.1 22.5 13.4 13.9 11.6 17.4 26.0 34.6 2

 3 Corporate business 447.0 514.5 517.8 559.2 598.8 588.2 537.6 510.4 503.2 551.7 3

 4 Noncorporate business 131.4 132.0 140.7 150.0 162.7 166.7 166.7 169.5 173.9 189.2 4

 5 Rest of the world 27.9 26.9 23.3 21.5 21.4 18.5 21.6 23.9 24.6 26.1 5

 6 Foreign official institutions 6.2 6.2 5.3 4.8 3.4 2.8 2.4 3.3 2.4 2.2 6

 7 Foreign banks 9.7 10.7 7.8 7.8 8.6 5.9 6.9 7.6 8.8 8.8 7

 8 Other foreign 12.1 10.0 10.2 8.9 9.4 9.8 12.3 13.0 13.5 15.2 8

 9 Financial sectors 46.2 59.9 52.8 55.1 68.4 69.0 73.4 71.8 58.8 47.5 9

 10 Finance companies 33.1 45.7 37.4 38.4 51.6 54.8 62.3 64.3 50.6 33.5 10

 11 REITs 0.7 1.0 1.5 3.1 4.1 4.4 5.0 3.7 3.6 6.0 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 12.5 13.2 13.9 13.6 12.7 9.8 6.2 3.8 4.6 7.9 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 678.0 756.2 758.7 808.3 864.7 856.2 811.0 793.0 786.5 849.1 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 593.1 649.2 634.6 663.3 687.6 669.9 599.3 573.1 580.9 625.5 17

 18 Foreign banking offices in U.S. 75.8 97.7 115.0 135.4 149.5 156.4 185.7 195.7 181.7 197.1 18

 19 Banks in U.S.-affiliated areas 9.1 9.3 9.1 9.6 9.7 13.0 10.0 10.2 9.7 11.3 19

 20 Credit unions 0.0 0.0 0.0 0.0 17.9 17.0 15.9 14.0 14.2 15.1 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.
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Historical Annuals, 1985-1994, 97

L.216 Other Loans and Advances

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total other loans and advances 635.8 691.9 747.3 790.2 823.5 862.3 764.1 776.0 764.9 833.9 1

 2 U.S. government loans 196.8 202.3 192.1 168.3 161.1 159.3 151.7 151.7 141.3 143.3 2

 3 Liab.: Household sector 16.5 19.4 18.7 20.1 15.6 18.6 20.8 21.6 17.2 20.4 3

 4 Nonfinancial corporate business 15.6 16.1 12.8 10.9 10.6 9.8 8.7 8.7 7.1 10.9 4

 5 Nonfinancial noncorporate business 57.8 58.3 57.4 54.1 54.2 53.0 49.4 48.8 46.1 46.5 5

 6 State and local governments 26.8 27.3 24.9 9.0 8.8 9.6 10.0 9.9 9.2 9.6 6

 7 Rest of the world 74.0 75.5 73.3 69.3 67.0 63.3 57.9 58.0 57.0 56.0 7

 8 Government-sponsored enterprises 6.1 5.7 5.0 5.0 5.0 4.9 4.8 4.8 4.8 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 56.0 77.6 78.1 100.0 122.3 172.4 125.1 129.9 114.2 122.1 11

 12 Liab.: Nonfinancial corporate business 56.0 77.6 78.1 100.0 122.3 172.4 125.1 129.9 114.2 122.1 12

 Customers’ liability on acceptances outstanding

 13 Asset: U.S.-chartered depository institutions 37.9 30.6 29.6 26.5 21.3 17.2 12.6 12.6 10.1 9.9 13

 14 Foreign banking offices in U.S. 22.1 23.8 30.2 31.0 34.0 28.3 22.7 19.1 15.1 13.0 14

 15 Liab.: Nonfinancial corporate business 28.3 28.1 32.6 32.6 35.8 29.2 23.3 20.4 17.1 15.0 15

 16 Rest of the world 31.6 26.3 27.3 24.9 19.6 16.3 12.0 11.3 8.2 7.9 16

 17 Holding company loans 2.1 3.6 4.1 3.9 5.5 5.3 3.4 3.7 1.9 1.8 17

 18 Liab.: Nonfinancial corporate business 2.1 3.6 4.1 3.9 5.5 5.3 3.4 3.7 1.9 1.8 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) 55.5 55.4 55.3 55.3 58.4 62.5 67.3 73.0 78.6 86.4 20

 21 Asset: Federal government 1.1 1.3 1.7 1.0 1.0 1.0 1.0 0.9 0.9 0.9 21

 22 Life insurance companies 54.4 54.1 53.6 54.2 57.4 61.6 66.4 72.1 77.7 85.5 22

 23 Government-sponsored enterprise loans (1) 115.2 132.8 157.8 176.6 168.0 144.8 110.7 111.3 135.2 158.8 23

 24 Liab.: Household sector (SLMA) 0.2 0.3 0.3 0.3 0.3 0.5 0.9 0.7 0.8 0.9 24

 25 Nonfinancial corporate business (FCS) 1.0 0.9 0.8 0.6 0.7 0.8 0.9 0.9 1.0 1.1 25

 26 Nonfinancial noncorporate business (FCS) 21.0 18.1 17.4 16.9 18.6 19.1 21.8 23.1 24.5 25.2 26

 27 U.S.-chartered dep. inst. (FHLB & SLMA) 92.9 113.5 139.3 158.8 148.3 124.4 87.1 86.5 108.4 130.5 27

 28 Credit unions (FHLB) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.5 28

 29 Life insurance companies (FHLB) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.6 29

 30 Securitized loans held by ABS issuers 0.0 0.0 0.0 0.0 2.0 4.3 6.8 9.7 19.5 23.7 30

 31 Liab.: Nonfinancial corporate business 0.0 0.0 0.0 0.0 2.0 4.3 6.8 9.7 19.5 23.7 31

 32 Finance company loans to business 150.2 165.8 200.1 228.7 250.8 268.1 263.8 264.9 249.0 274.9 32

 33 Liab.: Nonfinancial corporate business 135.2 149.2 180.0 205.8 225.7 241.3 237.4 238.4 224.1 247.4 33

 34 Nonfinancial noncorporate business 15.0 16.6 20.0 22.9 25.1 26.8 26.4 26.5 24.9 27.5 34

 35 Loans to nonfinancial corporate business (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 35

 36 Asset: Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 36

 37 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 37

 38 Mutual funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 38

 39 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 39

 40 Brokers and dealers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 40

 41 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 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.
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98 Historical Annuals, 1985-1994,

L.217 Total Mortgages

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total mortgages 2367.9 2654.9 2955.9 3273.4 3526.0 3781.1 3932.3 4043.3 4174.6 4338.8 1

 2 Home 1526.2 1729.4 1927.7 2162.1 2368.9 2606.3 2774.3 2941.7 3100.7 3277.9 2

 3 Multifamily residential 205.9 239.4 258.4 274.5 287.0 287.4 284.1 270.9 267.7 268.2 3

 4 Commercial 541.7 602.0 694.1 765.9 801.3 819.8 806.4 762.7 737.8 722.7 4

 5 Farm 94.1 84.1 75.8 70.8 68.8 67.6 67.5 67.9 68.4 69.9 5

 6 Total liabilities 2367.9 2654.9 2955.9 3273.4 3526.0 3781.1 3932.3 4043.3 4174.6 4338.8 6

 7 Household sector 1488.1 1691.6 1877.4 2116.9 2329.4 2566.0 2752.7 2932.4 3101.7 3267.5 7

 8 Nonfinancial business 877.1 960.5 1075.4 1153.1 1192.8 1210.8 1174.7 1105.6 1063.9 1052.6 8

 9 Corporate 169.3 185.3 252.7 255.0 263.2 285.9 277.1 237.9 218.3 211.6 9

 10 Noncorporate 707.8 775.2 822.7 898.1 929.6 924.9 897.6 867.6 845.5 840.9 10

 11 Federal government 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 REITs 2.5 2.8 3.1 3.4 3.7 4.3 4.8 5.4 8.9 18.7 12

 13 Total assets 2367.9 2654.9 2955.9 3273.4 3526.0 3781.1 3932.3 4043.3 4174.6 4338.8 13

 14 Household sector 115.5 111.9 119.5 121.8 130.7 140.9 142.7 136.8 129.4 120.5 14

 15 Nonfinancial corporate business 57.0 50.2 51.5 68.1 54.4 52.8 59.0 60.0 52.3 56.4 15

 16 Nonfinancial noncorporate business 44.0 44.7 37.9 47.8 35.1 31.1 26.0 25.2 21.9 23.8 16

 17 State and local governments 74.2 86.0 94.7 98.6 105.0 110.2 113.7 113.7 108.3 110.5 17

 18 Federal government 53.3 54.4 49.1 48.0 47.3 82.9 98.3 86.4 85.0 71.0 18

 19 U.S.-chartered depository institutions 1189.1 1278.7 1402.9 1540.0 1609.4 1600.9 1527.2 1470.9 1494.0 1559.9 19

 20 Foreign banking offices in U.S. 5.7 8.7 13.9 22.1 30.2 45.5 54.3 51.6 45.1 40.3 20

 21 Banks in U.S.-affiliated areas 2.0 2.2 2.3 2.9 3.6 4.5 5.2 6.0 7.2 8.8 21

 22 Credit unions 11.1 19.3 29.9 38.1 27.0 32.7 36.9 39.8 41.8 47.0 22

 23 Property-casualty insurance companies 3.3 4.3 5.0 5.6 6.5 6.9 6.5 5.9 4.5 3.8 23

 24 Life insurance companies 171.8 193.8 212.4 232.9 254.2 267.9 259.5 242.0 223.9 215.8 24

 25 Private pension funds 14.0 11.3 8.2 16.7 23.3 24.9 18.2 14.5 13.0 7.8 25

 26 State and local govt. retirement funds 15.3 15.6 15.3 15.6 15.3 16.1 16.9 16.5 14.5 15.2 26

 27 Government-sponsored enterprises (1) 159.7 147.8 139.5 144.5 150.5 156.1 167.7 199.7 241.0 244.6 27

 28 Agency- and GSE-backed mortgage pools 367.9 531.6 669.4 745.3 869.5 1019.9 1156.5 1272.0 1356.8 1472.4 28

 29 ABS issuers 24.6 17.9 31.5 40.5 52.6 66.0 113.1 167.9 204.3 224.5 29

 30 Finance companies 53.3 70.8 66.1 76.4 102.9 114.1 123.6 126.3 123.1 103.3 30

 31 REITs 5.9 5.9 7.0 8.7 8.4 7.7 7.0 8.1 8.6 13.3 31
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Historical Annuals, 1985-1994, 99

L.218 Home Mortgages (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total liabilities 1526.2 1729.4 1927.7 2162.1 2368.9 2606.3 2774.3 2941.7 3100.7 3277.9 1

 2 Household sector 1449.6 1648.3 1827.9 2054.2 2259.5 2488.8 2667.0 2840.0 2998.7 3165.3 2

 3 Nonfinancial corporate business 7.3 7.3 8.5 9.6 9.4 10.6 8.0 6.4 6.0 7.3 3

 4 Nonfinancial noncorporate business 69.3 73.8 91.4 98.4 100.0 107.0 99.3 95.3 95.9 105.4 4

 5 Total assets 1526.2 1729.4 1927.7 2162.1 2368.9 2606.3 2774.3 2941.7 3100.7 3277.9 5

 6 Household sector 91.6 91.9 103.3 108.4 117.4 128.6 130.1 122.7 113.7 104.7 6

 7 Nonfinancial corporate business 9.5 13.0 19.8 18.8 27.8 33.4 36.4 36.1 30.9 32.7 7

 8 Nonfinancial noncorporate business 13.9 14.1 11.8 17.6 12.1 9.5 8.9 9.4 8.2 8.9 8

 9 State and local governments 45.0 49.0 50.1 52.6 57.3 60.9 62.9 62.3 56.3 57.3 9

 10 Federal government 24.4 24.1 20.8 21.0 21.3 37.9 37.1 36.6 33.0 29.1 10

 11 U.S.-chartered depository institutions 772.9 800.6 842.6 965.3 1005.0 1030.9 991.6 968.4 1001.3 1066.4 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 1.3 1.3 1.5 1.7 1.9 2.0 2.0 3.0 4.1 4.8 13

 14 Credit unions 11.1 19.3 29.9 38.1 27.0 32.7 36.9 39.8 41.8 47.0 14

 15 Life insurance companies 13.6 14.1 14.5 12.5 13.6 15.0 12.1 12.5 9.9 10.0 15

 16 Private pension funds 4.5 4.0 1.4 2.8 5.5 5.5 4.0 3.2 3.2 3.7 16

 17 State and local govt. retirement funds 3.7 3.2 3.5 3.4 3.4 3.5 3.7 3.4 3.5 3.9 17

 18 Government-sponsored enterprises 111.6 105.9 102.8 109.0 114.1 119.5 130.7 161.0 201.1 204.1 18

 19 Agency- and GSE-backed mortgage pools 360.5 519.5 652.9 723.6 843.8 991.1 1130.4 1248.2 1334.3 1449.6 19

 20 ABS issuers 24.0 16.6 27.8 34.9 43.3 55.0 96.7 142.3 167.9 183.0 20

 21 Finance companies 38.2 52.4 44.7 52.0 75.1 80.2 90.5 91.5 89.2 67.7 21

 22 REITs 0.3 0.3 0.3 0.4 0.4 0.4 0.4 1.1 2.2 5.1 22

 Memo:

 23 Home equity loans included above (2) ND ND ND ND ND 214.7 222.0 217.1 210.4 221.8 23

 24 U.S.-chartered depository institutions ND ND ND ND ND 175.3 181.6 176.3 171.1 179.1 24

 25 Foreign banking offices in U.S. ND ND ND ND ND 0.0 0.0 0.0 0.0 0.0 25

 26 Credit unions ND ND ND ND ND 20.1 21.4 20.5 19.3 20.9 26

 27 ABS issuers ND ND ND ND ND 0.1 0.4 0.9 1.5 2.1 27

 28 Finance companies 19.7 22.9 27.0 29.3 16.1 19.2 18.7 19.4 18.5 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.

L.219 Multifamily Residential Mortgages

Billions of dollars

 1 Total liabilities 205.9 239.4 258.4 274.5 287.0 287.4 284.1 270.9 267.7 268.2 1

 2 Nonfinancial corporate business 10.3 11.9 12.9 13.7 14.3 14.3 14.1 13.5 13.2 13.1 2

 3 Nonfinancial noncorporate business 194.8 226.5 244.4 259.7 271.5 271.7 268.4 255.7 251.5 248.9 3

 4 Federal government 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 REITs 0.8 0.9 1.0 1.1 1.2 1.4 1.6 1.8 3.0 6.2 5

 6 Total assets 205.9 239.4 258.4 274.5 287.0 287.4 284.1 270.9 267.7 268.2 6

 7 Household sector 1.4 2.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Nonfinancial corporate business 1.4 2.4 4.4 1.3 3.4 1.6 0.6 0.4 0.5 0.9 8

 9 Nonfinancial noncorporate business 8.8 9.8 8.8 11.4 8.2 9.0 8.4 8.4 7.3 7.9 9

 10 State and local governments 23.4 30.4 37.4 38.5 39.7 40.7 41.7 42.4 42.8 43.5 10

 11 Federal government 10.2 11.1 11.5 11.8 12.3 22.9 31.9 27.6 24.6 22.0 11

 12 U.S.-chartered depository institutions 112.3 127.2 135.7 140.3 142.2 127.4 115.0 106.0 104.4 102.2 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 19.9 21.0 22.5 24.6 26.9 29.0 29.3 27.2 27.5 27.8 14

 15 Private pension funds 2.4 2.7 1.6 2.7 4.0 1.2 0.9 0.7 0.7 1.0 15

 16 State and local govt. retirement funds 6.0 6.0 5.7 5.5 5.2 5.1 4.8 4.2 4.1 4.3 16

 17 Government-sponsored enterprises 8.5 8.7 8.4 9.5 12.0 13.2 14.2 15.8 17.5 18.4 17

 18 Agency- and GSE-backed mortgage pools 7.0 11.9 16.4 21.6 25.7 28.7 26.1 23.8 22.5 22.4 18

 19 ABS issuers 0.0 0.2 0.5 1.0 1.0 0.9 3.8 6.6 8.4 9.8 19

 20 Finance companies 2.9 3.8 3.3 3.8 4.0 5.4 5.3 5.7 5.7 5.8 20

 21 REITs 1.8 1.8 2.1 2.6 2.5 2.3 2.2 2.2 1.9 2.1 21
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100 Historical Annuals, 1985-1994,

L.220 Commercial Mortgages

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total liabilities 541.7 602.0 694.1 765.9 801.3 819.8 806.4 762.7 737.8 722.7 1

 2 Household sector 38.6 43.2 49.5 62.7 70.0 77.2 85.8 92.3 103.0 102.2 2

 3 Nonfinancial corporate business 144.7 159.7 225.6 226.3 234.2 255.7 249.5 212.5 193.3 185.0 3

 4 Nonfinancial noncorporate business 356.6 397.1 416.9 474.6 494.6 483.9 467.9 454.3 435.4 423.0 4

 5 REITs 1.7 1.9 2.1 2.3 2.5 2.9 3.2 3.6 6.0 12.5 5

 6 Total assets 541.7 602.0 694.1 765.9 801.3 819.8 806.4 762.7 737.8 722.7 6

 7 Household sector 2.1 1.0 2.9 2.6 3.5 2.8 2.8 3.7 4.6 4.5 7

 8 Nonfinancial corporate business 46.1 34.7 27.2 48.0 23.3 17.7 21.9 23.5 20.8 22.8 8

 9 Nonfinancial noncorporate business 20.7 20.2 16.6 18.2 14.2 11.9 8.2 6.9 6.0 6.5 9

 10 State and local governments 4.4 5.1 5.7 6.0 6.4 7.1 7.7 7.5 7.7 8.3 10

 11 Federal government 8.3 8.4 6.6 5.3 4.4 13.4 21.2 14.6 20.5 13.2 11

 12 U.S.-chartered depository institutions 293.1 339.0 411.3 420.6 447.3 427.4 404.6 379.3 370.4 372.0 12

 13 Foreign banking offices in U.S. 5.7 8.7 13.9 22.1 30.2 45.5 54.3 51.6 45.1 40.3 13

 14 Banks in U.S.-affiliated areas 0.8 0.8 0.9 1.2 1.8 2.5 3.2 3.0 3.1 4.0 14

 15 Property-casualty insurance companies 3.3 4.3 5.0 5.6 6.5 6.9 6.5 5.9 4.5 3.8 15

 16 Life insurance companies 127.7 149.1 166.7 187.5 205.5 215.1 209.5 194.4 178.4 169.8 16

 17 Private pension funds 7.2 4.6 5.2 11.1 13.8 18.2 13.3 10.6 9.1 3.1 17

 18 State and local govt. retirement funds 5.6 6.3 6.2 6.7 6.6 7.5 8.3 8.9 7.0 7.0 18

 19 Agency- and GSE-backed mortgage pools 0.0 0.1 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 ABS issuers 0.6 1.1 3.1 4.6 8.4 10.1 12.6 19.1 28.1 31.6 20

 21 Finance companies 12.2 14.5 18.1 20.6 23.9 28.5 27.9 29.1 28.2 29.8 21

 22 REITs 3.8 3.9 4.5 5.6 5.4 5.0 4.5 4.8 4.5 6.1 22

L.221 Farm Mortgages (1)

Billions of dollars

 1 Total liabilities 94.1 84.1 75.8 70.8 68.8 67.6 67.5 67.9 68.4 69.9 1

 2 Nonfinancial corporate business 7.0 6.3 5.8 5.4 5.3 5.3 5.5 5.6 5.8 6.2 2

 3 Nonfinancial noncorporate business 87.1 77.8 70.0 65.4 63.5 62.3 62.0 62.3 62.6 63.7 3

 4 Total assets 94.1 84.1 75.8 70.8 68.8 67.6 67.5 67.9 68.4 69.9 4

 5 Household sector 20.3 16.5 13.3 10.8 9.8 9.4 9.8 10.4 11.1 11.4 5

 6 Nonfinancial noncorporate business 0.6 0.6 0.7 0.7 0.7 0.6 0.5 0.5 0.4 0.5 6

 7 State and local governments 1.4 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.4 7

 8 Federal government 10.4 10.7 10.2 9.8 9.3 8.6 8.2 7.5 7.0 6.7 8

 9 U.S.-chartered depository institutions 10.8 11.8 13.2 13.8 14.8 15.2 16.1 17.2 17.9 19.3 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 10.6 9.7 8.6 8.2 8.2 8.8 8.6 7.9 8.1 8.1 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 39.6 33.1 28.2 25.9 24.3 23.5 22.8 22.9 22.4 22.1 13

 14 Agency- and GSE-backed mortgage pools 0.4 0.1 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.4 14

(1) Excludes mortgages on farm houses.
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Historical Annuals, 1985-1994, 101

L.222 Consumer Credit

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Net change in liabilities (Households) 610.6 666.4 698.6 745.2 809.3 824.4 815.6 824.8 886.2 1021.2 1

 2 Net change in assets 610.6 666.4 698.6 745.2 809.3 824.4 815.6 824.8 886.2 1021.2 2

 3 Households (nonprofit organizations) (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Nonfinancial corporate business 42.5 47.0 54.0 60.8 63.8 67.1 63.0 65.7 77.2 86.6 4

 5 Nonfinancial noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Federal government (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.4 6.9 6

 7 U.S.-chartered depository institutions 354.8 383.1 399.4 427.6 445.8 431.6 412.3 400.3 433.6 497.2 7

 8 Credit unions 74.0 77.1 81.0 88.3 91.7 91.6 90.3 91.7 101.6 119.6 8

 9 Government-sponsored enterprises 6.8 8.2 10.0 13.2 16.0 19.2 21.1 24.2 26.8 30.4 9

 10 ABS issuers 0.0 0.0 0.0 0.0 47.3 76.7 103.0 120.3 130.5 146.1 10

 11 Finance companies 132.4 151.0 154.1 155.3 144.6 138.1 125.9 122.6 116.1 134.4 11

 Memo:

 12 Credit card loans (3) 131.6 148.9 169.6 194.5 222.3 250.9 277.1 292.3 325.0 383.2 12

 13 Auto loans 211.7 247.9 266.6 285.4 290.9 283.9 264.2 264.0 289.8 330.2 13

 14 Student loans (4) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Other consumer credit (5) 267.3 269.5 262.4 265.3 296.1 289.6 274.3 268.5 271.4 307.8 15

(1) Student loans originated under the Federal Family Education Loan Program.

(2) Includes loans originated by the Department of Education under the Federal Direct Loan Program and Perkins Loans, as well as Federal Family Education Loan Program

 loans that the government purchased from depository institutions, finance companies, and nonprofit and educational institutions, and loans in default.

(3) Revolving credit that also includes overdraft plans on checking accounts and other loans without a fixed repayment schedule.

(4) Includes student loans held by nonprofit organizations (line 3), the federal government (line 6), depository institutions (part of lines 7 and 8), and

 finance companies (part of line 11). Data begin in 2006:Q1.

(5) Includes student loans before 2006:Q1.
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102 Historical Annuals, 1985-1994,

L.223 Trade Credit

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total trade payables 753.2 761.3 834.7 934.5 997.5 1039.1 1085.0 1144.1 1212.8 1321.3 1

 2 Household sector 24.3 26.6 31.3 41.3 57.4 66.8 76.2 82.1 88.1 93.2 2

 3 Nonfinancial corporate business 480.4 478.5 522.8 577.0 598.5 626.9 650.1 683.5 720.0 797.4 3

 4 Nonfinancial noncorporate business 66.6 51.4 56.5 63.9 66.5 66.4 67.8 74.1 75.5 83.0 4

 5 State and local governments 98.2 107.7 117.8 128.6 140.4 153.3 167.0 181.3 196.3 212.3 5

 6 Federal government 58.2 72.8 80.3 88.2 96.8 91.1 85.5 82.7 85.7 85.5 6

 7 Rest of the world 17.5 16.8 19.3 27.0 29.8 28.6 31.6 33.0 37.1 40.8 7

 8 Brokers and dealers 8.0 7.6 6.8 8.5 8.0 6.1 6.8 7.4 10.1 9.1 8

 9 Total trade receivables 942.6 961.5 1044.0 1162.1 1225.0 1274.6 1269.7 1306.6 1364.1 1464.6 9

 10 Nonfinancial corporate business 739.3 741.5 805.3 895.9 938.0 967.2 961.4 988.9 1035.0 1107.0 10

 11 Nonfinancial noncorporate business 63.8 74.8 76.3 88.3 95.1 97.8 96.7 103.8 108.7 125.0 11

 12 State and local governments 41.3 42.2 46.0 50.8 54.2 56.7 59.1 62.2 65.8 71.2 12

 13 Federal government 35.0 32.6 40.6 40.7 43.9 42.1 37.5 30.8 28.4 24.7 13

 14 Rest of the world 33.6 35.0 35.1 37.2 39.8 46.1 44.4 46.0 47.0 48.6 14

 15 Property-casualty insurance companies 27.2 32.1 35.7 42.5 45.3 47.2 49.1 49.0 50.7 52.9 15

 16 ABS issuers 2.4 3.3 5.1 6.8 8.7 17.4 21.5 25.8 28.4 35.2 16

 17 Discrepancy -189.4 -200.2 -209.3 -227.6 -227.5 -235.5 -184.7 -162.6 -151.3 -143.3 17

L.224 Security Credit

Billions of dollars

 1 Total liabilities 131.2 141.1 115.3 118.3 133.9 137.4 188.9 217.7 279.0 279.0 1

 2 Household sector 50.7 57.4 41.8 43.5 42.5 38.8 55.1 53.5 76.1 75.1 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 80.5 83.6 73.5 74.8 91.4 98.6 133.8 164.2 202.9 203.9 4

 5 Customer credit balances (HH) 35.1 44.0 39.1 40.9 53.2 62.4 87.0 76.2 102.3 109.0 5

 6 From U.S.-chartered depository institutions 38.5 32.5 29.4 29.0 33.2 27.8 30.0 57.3 61.4 56.8 6

 7 From foreign banking offices in U.S. 7.0 7.1 5.0 4.9 5.0 8.4 16.8 30.7 39.3 38.1 7

 8 Total assets 131.2 141.1 115.3 118.3 133.9 137.4 188.9 217.7 279.0 279.0 8

 9 Household sector 35.1 44.0 39.1 40.9 53.2 62.4 87.0 76.2 102.3 109.0 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 38.5 32.5 29.4 29.0 33.2 27.8 30.0 57.3 61.4 56.8 11

 12 Foreign banking offices in U.S. 7.0 7.1 5.0 4.9 5.0 8.4 16.8 30.7 39.3 38.1 12

 13 Brokers and dealers 50.7 57.4 41.8 43.5 42.5 38.8 55.1 53.5 76.1 75.1 13
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Historical Annuals, 1985-1994, 103

L.225 Life Insurance Reserves

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total liabilities 264.3 282.6 309.5 335.7 365.3 391.7 418.6 447.7 484.8 520.3 1

 2 Federal government 17.8 18.9 20.1 21.2 22.4 23.6 24.8 26.2 27.6 28.9 2

 3 Life insurance companies 246.5 263.7 289.5 314.4 342.8 368.1 393.8 421.5 457.2 491.5 3

 4 Net change in assets 264.3 282.6 309.5 335.7 365.3 391.7 418.6 447.7 484.8 520.3 4

 5 Households 264.3 282.6 309.5 335.7 365.3 391.7 418.6 447.7 484.8 520.3 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

L.226 Pension Entitlements

Billions of dollars

 1 Total liabilities 2847.1 3130.2 3400.4 3701.0 4141.8 4435.1 4846.8 5342.6 5774.1 6095.9 1

 2 Life insurance companies (1) 260.4 327.9 348.6 435.5 495.5 569.8 621.2 693.4 775.1 796.6 2

 3 Private pension funds (2) 1226.9 1326.6 1469.3 1574.7 1752.3 1833.0 2044.8 2185.7 2379.3 2511.0 3

 4 State and local govt. retirement funds 454.7 502.0 547.3 592.1 729.0 800.0 878.1 1085.8 1170.0 1265.7 4

 5 Federal government retirement funds (3) 905.0 973.7 1035.2 1098.8 1165.0 1232.3 1302.8 1377.7 1449.7 1522.6 5

 6 Total assets (Households) (4) 2847.1 3130.2 3400.4 3701.0 4141.8 4435.1 4846.8 5342.6 5774.1 6095.9 6

(1) Annuities, including those in IRAs.

(2) Includes unallocated insurance company contracts beginning 1985:Q4.

(3) Includes the Thrift Savings Plan, the National Railroad Retirement Investment Trust, and other federal government retirement funds.

(4) Excludes all individual retirement accounts (IRAs) (table L.226.i), except those at life insurance companies.

L.227 Taxes Payable by Businesses

Billions of dollars

 1 Total taxes payable by all businesses 69.4 76.3 80.0 80.8 78.7 80.9 73.0 80.2 86.0 86.2 1

 2 Nonfinancial corporate business 39.0 42.8 47.9 44.4 38.3 38.3 28.9 35.3 40.7 40.3 2

 3 Nonfinancial noncorporate business 21.6 23.3 23.9 26.8 31.4 32.0 32.5 33.1 31.4 32.8 3

 4 U.S.-chartered depository institutions 4.6 4.9 2.5 2.7 1.4 1.3 -0.1 -0.3 -3.2 -5.2 4

 5 Property-casualty insurance companies 0.9 1.1 1.6 1.9 1.2 1.9 2.6 0.9 3.0 2.6 5

 6 Life insurance companies 2.5 3.1 3.4 3.8 4.8 5.3 6.4 7.8 9.4 10.4 6

 7 Finance companies 0.1 0.2 0.4 0.7 1.0 1.4 1.9 2.6 3.3 4.1 7

 8 Brokers and dealers 0.8 0.9 0.4 0.5 0.6 0.7 0.9 0.9 1.4 1.2 8

 9 Total business taxes receivable 38.1 47.9 49.3 58.1 61.0 59.1 54.8 53.8 55.0 56.1 9

 10 State and local governments 26.8 29.5 30.0 33.7 37.1 36.6 38.4 38.3 36.0 37.5 10

 11 Federal government 11.3 18.4 19.3 24.5 23.8 22.5 16.4 15.5 18.9 18.6 11

 12 Discrepancy 31.3 28.4 30.8 22.6 17.7 21.8 18.1 26.5 31.1 30.1 12

L.228 Proprietors’ Equity in Noncorporate Business

Billions of dollars

 1 Total household equity 2498.9 2623.3 2741.8 2889.1 3012.9 3058.1 3012.9 2988.7 3129.4 3340.6 1

 2 Nonfinancial noncorporate business 2495.0 2617.8 2736.5 2883.5 3008.2 3054.1 3008.2 2983.6 3123.2 3335.5 2

 3 Brokers and dealers 3.9 5.5 5.3 5.6 4.7 4.0 4.7 5.1 6.2 5.1 3
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104 Historical Annuals, 1985-1994,

L.229 Total Miscellaneous Financial Claims

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total liabilities 3790.4 3942.9 4235.7 4673.5 5116.0 5368.5 5691.9 6272.7 6642.1 7029.0 1

 2 Household sector 15.2 13.9 15.1 15.5 16.4 16.5 15.7 15.8 16.3 16.8 2

 3 Nonfinancial corporate business 1169.5 1127.7 1160.8 1323.2 1457.6 1497.2 1641.7 1861.7 1952.3 1917.2 3

 4 Nonfinancial noncorporate business 130.8 139.4 127.9 148.7 171.8 163.7 167.4 181.7 187.6 203.3 4

 5 Federal government 905.0 973.7 1035.3 1101.8 1167.8 1232.2 1298.6 1369.1 1436.0 1503.3 5

 6 Rest of the world 464.4 498.3 541.9 621.8 677.5 736.5 753.0 755.6 854.5 925.9 6

 7 Monetary authority 4.8 3.7 4.7 5.8 5.2 4.2 3.8 3.4 4.3 5.2 7

 8 U.S.-chartered depository institutions 272.0 302.9 311.5 367.0 346.2 368.8 369.6 394.6 419.3 582.2 8

 9 Foreign banking offices in U.S. 34.5 39.3 65.1 79.1 157.1 154.2 175.0 197.1 225.7 257.6 9

 10 Banks in U.S.-affiliated areas 10.1 7.3 5.4 5.4 5.7 6.5 4.9 5.5 6.6 8.9 10

 11 Credit unions 2.8 3.0 3.9 4.3 3.7 3.9 4.5 4.6 5.1 6.4 11

 12 Property-casualty insurance companies 214.7 258.4 304.3 335.6 369.9 396.9 416.4 439.9 456.1 471.9 12

 13 Life insurance companies 241.4 261.2 305.8 314.9 342.8 348.1 388.3 402.5 435.9 474.5 13

 14 Government-sponsored enterprises 54.9 63.1 60.7 61.8 68.0 69.2 76.5 89.0 84.0 59.1 14

 15 Finance companies 104.7 105.7 135.1 152.1 157.0 161.4 178.1 189.2 196.0 198.3 15

 16 REITs 0.7 0.8 1.2 3.5 2.1 1.2 2.9 2.4 2.3 5.3 16

 17 Brokers and dealers 27.0 33.1 39.4 42.0 35.2 37.5 41.5 52.2 86.1 77.2 17

 18 Holding companies 3.5 14.4 15.6 16.3 20.6 23.8 18.3 22.0 19.7 22.5 18

 19 Funding corporations 84.8 75.8 92.0 85.6 88.4 88.5 125.3 158.9 150.8 145.4 19

 20 Total assets 3669.4 4054.7 4578.5 5212.9 5659.5 5989.3 6254.7 6720.0 7215.9 7820.8 20

 21 Household sector 146.7 167.4 195.8 216.7 233.9 253.8 264.5 282.8 296.1 310.8 21

 22 Nonfinancial corporate business 1312.9 1457.5 1621.9 1882.1 2036.8 2135.1 2215.1 2305.7 2556.4 2715.2 22

 23 Nonfinancial noncorporate business 75.2 86.1 88.2 103.3 112.6 109.2 118.6 123.6 139.7 158.9 23

 24 State and local governments 7.7 9.4 13.3 7.4 8.8 10.3 13.9 10.6 -23.6 24.9 24

 25 Federal government 15.8 16.3 17.4 18.6 34.0 68.1 104.2 119.6 115.7 119.0 25

 26 Rest of the world 296.4 324.6 395.5 481.9 567.3 599.1 674.3 662.6 740.6 781.5 26

 27 Monetary authority 8.0 7.7 9.9 9.4 7.2 6.0 5.6 7.4 9.6 9.8 27

 28 U.S.-chartered depository institutions 212.1 217.9 228.0 279.9 245.4 212.3 197.7 195.5 188.2 283.3 28

 29 Foreign banking offices in U.S. 18.1 24.6 42.3 44.4 110.9 86.8 101.6 143.8 178.5 216.9 29

 30 Banks in U.S.-affiliated areas 4.4 2.4 1.8 3.2 4.1 4.2 3.7 3.0 2.6 2.4 30

 31 Credit unions 4.8 7.7 5.0 5.1 6.2 8.2 12.8 16.5 18.2 14.8 31

 32 Property-casualty insurance companies 10.0 11.8 15.5 18.9 22.4 24.8 23.7 24.0 28.8 32.2 32

 33 Life insurance companies 57.8 64.8 77.8 86.4 95.1 91.0 102.2 99.4 98.3 105.1 33

 34 Private pension funds 238.9 305.8 426.3 512.6 470.1 538.0 488.9 526.8 494.8 502.9 34

 35 State and local govt. retirement funds 0.5 0.7 0.6 2.1 6.3 7.8 4.6 4.5 4.1 4.6 35

 36 Federal government retirement funds 905.0 973.7 1034.1 1096.0 1160.0 1224.5 1291.7 1362.2 1429.2 1496.5 36

 37 Money market mutual funds 2.0 3.6 4.4 4.6 7.5 4.0 7.7 12.7 23.7 27.8 37

 38 Mutual funds 1.0 2.7 3.8 3.5 7.1 8.9 8.2 3.0 3.3 5.9 38

 39 Government-sponsored enterprises 3.9 5.8 12.7 20.2 30.3 32.9 39.2 26.9 32.5 27.3 39

 40 Finance companies 4.0 6.2 12.4 15.1 18.0 16.1 27.2 20.2 29.1 12.9 40

 41 REITs 1.7 1.3 2.2 3.1 4.7 4.3 5.4 3.1 4.6 6.4 41

 42 Brokers and dealers 26.8 34.7 38.2 47.2 66.5 97.0 129.0 180.4 228.6 254.2 42

 43 Holding companies 227.4 254.3 265.6 286.7 303.6 307.0 312.9 343.1 388.0 418.6 43

 44 Funding corporations 38.7 46.2 55.8 75.4 77.8 81.4 91.7 114.8 125.4 141.0 44

 45 Discrepancy 71.4 -133.1 -352.9 -528.2 -566.5 -679.0 -573.2 -575.1 -677.3 -939.8 45
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Historical Annuals, 1985-1994, 105

L.230 Identified Miscellaneous Financial Claims - Part I

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 U.S. direct investment abroad:

 1 Liab.: Rest of the world 407.8 437.5 506.6 535.9 570.7 629.8 657.7 674.4 723.5 786.6 1

 2 Asset: Nonfinancial corporate business 377.1 402.3 462.5 484.7 497.9 556.2 580.3 586.4 607.1 685.6 2

 3 U.S.-chartered depository institutions 14.8 15.0 18.7 20.2 22.6 24.9 25.4 29.9 33.8 35.6 3

 4 Property-casualty insurance companies 10.0 11.8 15.5 18.9 22.4 24.8 23.7 24.0 28.8 32.2 4

 5 Life insurance companies 1.6 1.5 1.9 2.1 2.4 2.7 3.7 4.0 4.9 4.8 5

 6 Finance companies 3.4 5.7 5.2 7.3 23.1 18.7 21.2 24.6 44.6 25.9 6

 7 Brokers and dealers 0.9 1.2 2.8 2.7 2.3 2.5 3.5 5.4 4.3 2.6 7

 Foreign direct investment in U.S.:

 8 Liab.: Nonfinancial corporate business 210.9 254.1 316.7 394.3 454.6 513.3 511.3 523.6 545.3 598.1 8

 9 Nonfinancial noncorporate business 8.0 8.1 3.1 6.5 8.7 3.8 3.9 4.4 5.2 4.8 9

 10 Foreign banking offices in U.S. 11.4 12.4 14.4 16.9 18.6 18.4 24.9 21.2 24.0 26.3 10

 11 Property-casualty insurance companies 4.5 6.0 10.5 11.7 14.2 17.3 24.7 25.7 26.7 27.9 11

 12 Life insurance companies 7.3 9.4 7.2 7.3 8.6 9.9 8.6 9.7 13.1 10.9 12

 13 Finance companies 1.4 3.6 3.5 2.7 9.3 4.6 5.6 4.2 10.2 6.0 13

 14 Brokers and dealers 3.8 3.6 3.1 4.8 6.3 3.8 5.8 5.3 23.7 14.0 14

 15 Funding corporations 0.0 -12.4 -23.9 -42.4 -52.4 -65.7 -51.4 -53.8 -54.9 -70.1 15

 16 Asset: Rest of the world 247.2 284.7 334.6 401.8 467.9 505.3 533.4 540.3 593.3 618.0 16

 Federal government equity in IBRD, etc.:

 17 Liab.: Rest of the world 13.9 15.4 16.6 17.9 19.1 20.4 21.9 23.3 24.5 25.9 17

 18 Asset: Federal government 13.9 15.4 16.6 17.9 19.1 20.4 21.9 23.3 24.5 25.9 18

 Federal Reserve Bank stock:

 19 Liab.: Monetary authority 1.8 1.9 2.0 2.1 2.2 2.4 2.7 3.1 3.4 3.7 19

 20 Asset: U.S.-chartered depository institutions 1.8 1.9 2.0 2.1 2.2 2.4 2.7 3.1 3.4 3.7 20

 Equity in government-sponsored enterprises:

 21 Liab.: Government-sponsored enterprises 13.1 13.7 15.0 16.9 16.3 13.7 13.0 12.8 14.4 16.3 21

 22 Asset: Nonfin. corporate business (Fannie Mae and FCS) 0.3 0.3 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 22

 23 Nonfinancial noncorporate (FCS) 4.5 3.9 3.5 3.5 2.8 2.4 2.6 2.5 2.8 3.0 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) 8.3 9.5 11.3 13.2 13.4 11.1 10.2 10.1 11.4 12.9 25

 26 Credit unions (FHLB) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 26

 27 Life insurance companies (FHLB) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 27

 Holding company net transactions with subsidiaries:

 28 Liab.: U.S.-chartered depository institutions 135.5 153.5 160.8 183.8 194.2 211.8 229.3 266.1 296.2 311.7 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 0.0 0.0 0.0 0.0 30

 31 Finance companies 43.9 52.2 46.9 27.3 25.3 21.2 14.8 14.8 21.2 25.2 31

 32 Brokers and dealers 27.3 27.3 38.9 59.0 67.0 48.5 41.3 38.7 46.6 47.3 32

 33 Rest of the world 16.6 15.3 11.8 10.1 8.3 7.9 10.3 4.5 6.8 14.6 33

 34 Asset: Holding companies 223.2 248.3 258.3 280.1 294.8 289.3 295.6 324.0 370.7 398.8 34

 NFC investment in finance company subsidiaries:

 35 Liab.: Finance companies 16.7 18.7 12.5 9.5 9.9 15.5 17.6 19.6 14.4 16.6 35

 36 Asset: Nonfinancial corporate business 16.7 18.7 12.5 9.5 9.9 15.5 17.6 19.6 14.4 16.6 36

 Funding corporations’ investment in subsidiaries:

 37 Liab.: Foreign banking offices in U.S. 22.7 26.9 34.1 46.9 49.5 47.6 47.2 51.1 44.5 44.1 37

 38 Brokers and dealers 16.0 19.4 21.7 28.5 28.3 33.8 44.5 63.7 80.8 96.9 38

 39 Asset: Funding corporations 38.7 46.2 55.8 75.4 77.8 81.4 91.7 114.8 125.4 141.0 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).
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106 Historical Annuals, 1985-1994,

L.231 Identified Miscellaneous Financial Claims - Part II

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 Nonofficial foreign currencies:

 1 Liab.: Rest of the world 1.9 0.9 0.8 0.7 0.6 0.6 1.6 1.7 1.9 2.0 1

 2 Asset: Federal government 1.9 0.9 0.8 0.7 0.6 0.6 1.6 1.7 1.9 2.0 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 23.3 27.0 20.4 19.0 25.9 30.7 31.7 30.8 23.7 16.0 6

 7 Asset: U.S.-chartered depository institutions 23.3 27.0 20.4 19.0 25.9 30.7 31.7 30.8 23.7 16.0 7

 Deferred and unpaid life insurance premiums:

 8 Liab.: Household sector 15.2 13.9 15.1 15.5 16.4 16.5 15.7 15.8 16.3 16.8 8

 9 Asset: Life insurance companies 15.2 13.9 15.1 15.5 16.4 16.5 15.7 15.8 16.3 16.8 9

 Life insurance company reserves:

 10 Liab.: Life insurance companies 56.9 61.0 66.3 72.6 77.9 83.5 89.4 97.8 105.4 113.5 10

 11 Accident and health 18.8 21.3 24.0 26.9 29.9 33.4 38.2 45.2 51.4 58.0 11

 12 Policy dividend accumulation 26.3 26.9 27.9 29.1 30.7 31.9 31.7 32.3 32.8 32.9 12

 13 Contract claims 11.8 12.8 14.5 16.7 17.4 18.1 19.4 20.4 21.3 22.6 13

 14 Asset: Household sector 56.9 61.0 66.3 72.6 77.9 83.5 89.4 97.8 105.4 113.5 14

 Policy payables:

 15 Liab.: Property-casualty insurance companies 210.2 252.4 293.8 323.9 355.7 379.7 391.7 414.3 429.4 444.0 15

 16 Asset: Household sector 89.8 106.4 129.4 144.1 156.0 170.3 175.2 185.0 190.7 197.3 16

 17 Nonfinancial corporate business 64.2 83.1 106.6 121.6 136.0 149.3 151.5 165.2 172.1 178.0 17

 18 Nonfinancial noncorporate business 56.3 62.9 57.8 58.2 63.8 60.0 65.0 64.1 66.7 68.7 18

 Unallocated insurance company contracts:

 19 Liab.: Life insurance companies 131.8 146.9 186.3 186.9 204.7 214.8 244.5 247.6 267.9 297.9 19

 20 Asset: Private pension funds 131.8 146.9 186.3 186.9 204.7 214.8 244.5 247.6 267.9 297.9 20

 Pension fund contributions payable:

 21 Liab.: Nonfinancial corporate business 18.7 18.7 20.3 19.0 26.3 32.3 44.4 54.3 66.6 78.3 21

 22 Asset: Private pension funds 18.7 18.7 20.3 19.0 26.3 32.3 44.4 54.3 66.6 78.3 22

 Securities borrowed (net):

 23 Liab.: Funding corporations 6.9 12.0 15.1 23.2 39.3 71.4 102.9 153.5 197.1 221.7 23

 24 Asset: Brokers and dealers 6.9 12.0 15.1 23.2 39.3 71.4 102.9 153.5 197.1 221.7 24

 Nonmarketable government securities:

 25 Liab.: Federal government 172.1 201.7 232.0 264.7 299.3 332.6 371.0 410.8 447.9 485.5 25

 26 Asset: Federal government retirement funds 172.1 201.7 232.0 264.7 299.3 332.6 371.0 410.8 447.9 485.5 26

 Retiree health care funds (2):

 27 Liab.: Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

 28 Asset: Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

 Claims of pension fund on sponsor (3):

 29 Liab.: Nonfinancial corporate business -24.0 10.0 83.3 142.5 89.0 174.6 85.2 122.9 71.0 37.7 29

 30 State and local governments 49.6 21.3 10.1 -11.1 23.0 58.3 10.4 127.8 103.5 148.0 30

 31 Federal government 732.9 772.0 802.2 831.3 860.8 891.9 920.7 951.4 981.3 1011.0 31

 32 Asset: Private pension funds -24.0 10.0 83.3 142.5 89.0 174.6 85.2 122.9 71.0 37.7 32

 33 State and local govt. retirement funds 49.6 21.3 10.1 -11.1 23.0 58.3 10.4 127.8 103.5 148.0 33

 34 Federal government retirement funds 732.9 772.0 802.2 831.3 860.8 891.9 920.7 951.4 981.3 1011.0 34

(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.

(3) Assets of the household sector.
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L.232 Unidentified Miscellaneous Financial Claims

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total liabilities 1432.3 1338.7 1288.8 1445.6 1638.5 1523.8 1749.1 1931.9 2060.4 2149.9 1

 2 Nonfinancial corporate business 963.9 844.8 740.6 767.3 887.7 777.1 1000.9 1160.8 1269.4 1203.2 2

 3 Nonfinancial noncorporate business 122.8 131.3 124.9 142.2 163.1 159.8 163.5 177.3 182.4 198.4 3

 4 Federal government 0.0 0.0 1.2 5.8 7.8 7.7 7.0 6.9 6.8 6.8 4

 5 Rest of the world 24.2 29.2 6.1 57.2 78.9 77.9 61.5 51.7 97.8 96.8 5

 6 Monetary authority 3.1 1.9 2.7 3.7 2.9 1.8 1.2 0.4 0.9 1.6 6

 7 U.S.-chartered depository institutions 136.4 149.4 150.7 183.2 152.0 157.0 140.3 128.5 123.2 270.5 7

 8 Foreign banking offices in U.S. 0.4 0.0 16.7 15.3 89.0 88.1 102.9 124.8 157.1 187.3 8

 9 Banks in U.S.-affiliated areas 10.1 7.3 5.4 5.4 5.7 6.5 4.9 5.5 6.6 8.9 9

 10 Credit unions 2.8 3.0 3.9 4.3 3.7 3.9 4.5 4.6 5.1 6.4 10

 11 Life insurance companies 45.4 43.9 46.0 48.2 51.6 39.9 45.7 47.4 49.5 52.1 11

 12 Government-sponsored enterprises 18.4 22.5 25.3 25.8 25.8 24.9 31.8 45.4 45.9 26.9 12

 13 Finance companies 42.8 31.2 72.2 112.7 112.4 120.1 140.1 150.6 150.3 150.5 13

 14 REITs 0.7 0.8 1.2 3.5 2.1 1.2 2.9 2.4 2.3 5.3 14

 15 Brokers and dealers -20.2 -17.2 -24.4 -50.3 -66.5 -48.6 -50.0 -55.4 -65.1 -81.0 15

 16 Holding companies 3.5 14.4 15.6 16.3 20.6 23.8 18.3 22.0 19.7 22.5 16

 17 Funding corporations 78.0 76.2 100.8 104.8 101.5 82.7 73.7 59.1 8.6 -6.2 17

 18 Total assets 1311.3 1450.4 1631.6 1984.9 2182.0 2144.6 2311.9 2379.1 2634.2 2941.6 18

 19 Nonfinancial corporate business 854.6 953.1 1040.0 1266.1 1392.9 1414.0 1465.5 1534.4 1762.6 1834.9 19

 20 Nonfinancial noncorporate business 14.4 19.3 27.0 41.6 46.0 46.8 51.0 57.0 70.2 87.2 20

 21 State and local governments 7.7 9.4 13.3 7.4 8.8 10.3 13.9 10.6 -23.6 24.9 21

 22 Federal government 0.0 0.0 0.0 0.0 14.3 47.1 80.7 94.6 89.3 91.1 22

 23 Rest of the world 49.2 39.9 61.0 80.2 99.4 93.8 140.9 122.3 147.3 163.6 23

 24 Monetary authority 8.0 7.7 9.9 9.4 7.2 6.0 5.6 7.4 9.6 9.8 24

 25 U.S.-chartered depository institutions 163.8 164.6 175.6 225.4 181.3 143.2 127.8 121.7 115.8 215.0 25

 26 Foreign banking offices in U.S. 18.1 24.6 42.3 44.4 110.9 86.8 101.6 143.8 178.5 216.9 26

 27 Banks in U.S.-affiliated areas 4.4 2.4 1.8 3.2 4.1 4.2 3.7 3.0 2.6 2.4 27

 28 Credit unions 4.8 7.7 5.0 5.1 6.2 8.2 12.8 16.5 18.1 14.7 28

 29 Life insurance companies 41.0 49.5 60.8 68.7 76.4 71.8 82.8 79.6 77.2 83.5 29

 30 Private pension funds 112.3 130.1 136.5 164.2 150.1 116.3 114.8 101.9 89.3 89.0 30

 31 State and local govt. retirement funds 0.5 0.7 0.6 2.1 6.3 7.8 4.6 4.5 4.1 4.6 31

 32 Mutual funds 1.0 2.7 3.8 3.5 7.1 8.9 8.2 3.0 3.3 5.9 32

 33 Money market mutual funds 2.0 3.6 4.4 4.6 7.5 4.0 7.7 12.7 23.7 27.8 33

 34 Government-sponsored enterprises 3.9 5.8 12.7 20.2 30.3 32.9 39.2 26.9 32.5 27.3 34

 35 Finance companies 0.6 0.6 7.1 7.8 -5.1 -2.6 6.0 -4.4 -15.5 -13.0 35

 36 REITs 1.7 1.3 2.2 3.1 4.7 4.3 5.4 3.1 4.6 6.4 36

 37 Brokers and dealers 19.0 21.5 20.3 21.3 24.9 23.1 22.6 21.5 27.2 30.0 37

 38 Holding companies 4.2 6.0 7.3 6.6 8.8 17.7 17.3 19.1 17.3 19.8 38

 39 Discrepancy 71.4 -133.1 -352.9 -528.2 -566.5 -679.0 -573.2 -575.1 -677.3 -939.8 39
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108 Historical Annuals, 1985-1994,

B.100 Balance Sheet of Households and Nonprofit Organizations (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Assets 17542.6 19355.7 20741.6 22667.4 24709.1 25531.6 27189.1 28535.2 30237.4 31456.1 1

 2 Nonfinancial assets 6789.0 7426.1 8047.5 8769.0 9469.9 9750.7 9962.1 10286.5 10655.1 11101.5 2

 3 Real estate 5339.9 5826.2 6310.4 6876.4 7443.2 7601.3 7726.4 7966.6 8221.7 8540.7 3

 4 Households (2,3) 4698.8 5147.9 5598.6 6117.8 6641.1 6799.4 6970.3 7259.9 7512.3 7787.5 4

 5 Nonprofit organizations 641.1 678.2 711.8 758.5 802.0 802.0 756.1 706.7 709.4 753.1 5

 6 Equipment (nonprofits) (4) 50.7 54.5 58.9 63.6 68.9 74.6 79.1 83.2 85.5 88.0 6

 7 Intellectual property products (nonprofits) (4) 21.5 23.1 25.6 28.8 32.2 35.6 39.2 43.3 45.7 48.7 7

 8 Consumer durable goods (4) 1377.0 1522.3 1652.7 1800.3 1925.7 2039.1 2117.4 2193.4 2302.2 2424.1 8

 9 Financial assets 10753.6 11929.6 12694.1 13898.4 15239.2 15781.0 17227.0 18248.7 19582.3 20354.6 9

 10 Deposits 2550.9 2808.3 2943.9 3136.9 3292.1 3365.7 3368.0 3330.6 3265.0 3209.7 10

 11 Foreign deposits 7.8 8.8 9.8 10.7 11.9 13.4 14.6 15.6 15.8 18.8 11

 12 Checkable deposits and currency 344.8 461.9 460.8 460.5 462.2 450.8 505.0 616.4 667.5 636.3 12

 13 Time and savings deposits 2001.9 2102.5 2217.4 2392.7 2466.9 2512.1 2440.8 2333.0 2218.3 2181.4 13

 14 Money market fund shares 196.3 235.1 256.0 273.0 351.1 389.4 407.7 365.5 363.5 373.1 14

 15 Credit market instruments 967.4 1001.0 1176.4 1381.8 1479.6 1741.2 1824.9 1886.5 1995.5 2377.5 15

 16 Open market paper 56.5 56.1 55.3 93.6 87.9 93.7 58.5 52.7 65.0 69.7 16

 17 Treasury securities 282.2 270.9 308.2 393.5 394.9 504.0 535.5 627.3 673.2 871.0 17

 18 Savings bonds 79.8 93.3 101.1 109.6 117.7 126.2 138.1 157.3 171.9 179.9 18

 19 Other Treasury 202.5 177.6 207.1 283.9 277.2 377.8 397.4 470.1 501.3 691.1 19

 20 Agency- and GSE-backed securities 23.4 23.3 32.1 51.8 74.8 117.3 115.5 114.4 58.3 187.4 20

 21 Municipal securities 395.1 410.9 516.6 586.0 613.3 647.7 701.8 672.2 640.8 594.1 21

 22 Corporate and foreign bonds 94.7 127.8 144.6 135.1 178.1 237.6 270.9 283.2 428.8 534.8 22

 23 Other loans and advances (5) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 Mortgages 115.5 111.9 119.5 121.8 130.7 140.9 142.7 136.8 129.4 120.5 24

 25 Consumer credit (student loans) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 Corporate equities (2) 1229.5 1494.0 1462.6 1757.1 2147.5 1961.4 2759.2 3094.2 3437.0 3294.2 26

 27 Mutual fund shares (6) 213.8 378.7 424.5 439.1 513.0 511.5 645.0 799.4 1098.0 1096.6 27

 28 Security credit 35.1 44.0 39.1 40.9 53.2 62.4 87.0 76.2 102.3 109.0 28

 29 Life insurance reserves 264.3 282.6 309.5 335.7 365.3 391.7 418.6 447.7 484.8 520.3 29

 30 Pension entitlements 2847.1 3130.2 3400.4 3701.0 4141.8 4435.1 4846.8 5342.6 5774.1 6095.9 30

 31 Equity in noncorporate business (7) 2498.9 2623.3 2741.8 2889.1 3012.9 3058.1 3012.9 2988.7 3129.4 3340.6 31

 32 Miscellaneous assets 146.7 167.4 195.8 216.7 233.9 253.8 264.5 282.8 296.1 310.8 32

 33 Liabilities 2367.9 2632.1 2840.7 3140.2 3425.5 3693.6 3905.5 4113.0 4383.9 4712.1 33

 34 Credit market instruments 2277.7 2534.2 2752.5 3039.8 3309.2 3571.6 3758.5 3961.7 4203.5 4527.0 34

 35 Home mortgages (8) 1449.6 1648.3 1827.9 2054.2 2259.5 2488.8 2667.0 2840.0 2998.7 3165.3 35

 36 Consumer credit 610.6 666.4 698.6 745.2 809.3 824.4 815.6 824.8 886.2 1021.2 36

 37 Municipal securities (9) 81.3 78.4 78.1 79.6 82.7 85.7 89.5 91.9 93.0 96.1 37

 38 Depository institution loans n.e.c. 25.4 22.9 24.1 22.5 13.4 13.9 11.6 17.4 26.0 34.6 38

 39 Other loans and advances 72.2 75.0 74.3 75.7 74.3 81.7 89.1 95.3 96.6 107.7 39

 40 Commercial mortgages (9) 38.6 43.2 49.5 62.7 70.0 77.2 85.8 92.3 103.0 102.2 40

 41 Security credit 50.7 57.4 41.8 43.5 42.5 38.8 55.1 53.5 76.1 75.1 41

 42 Trade payables (9) 24.3 26.6 31.3 41.3 57.4 66.8 76.2 82.1 88.1 93.2 42

 43 Deferred and unpaid life insurance premiums 15.2 13.9 15.1 15.5 16.4 16.5 15.7 15.8 16.3 16.8 43

 44 Net worth 15174.7 16723.5 17900.9 19527.3 21283.6 21838.0 23283.6 24422.2 25853.5 26744.0 44

 Memo:

 Replacement-cost value of structures:

 45 Residential 3130.4 3387.9 3628.5 3877.7 4118.1 4286.8 4385.9 4644.1 4959.0 5345.6 45

 46 Households 3046.3 3297.7 3534.2 3779.8 4017.5 4184.0 4283.7 4539.7 4852.9 5236.5 46

 47 Nonprofit organizations 84.2 90.2 94.3 97.9 100.6 102.8 102.2 104.3 106.1 109.1 47

 48 Nonresidential (nonprofits) 361.4 383.2 406.8 430.7 456.0 478.6 490.8 512.7 540.9 575.8 48

 49 Disposable personal income (SAAR) 3098.5 3287.9 3466.3 3770.4 4052.1 4311.8 4484.5 4800.3 5000.2 5244.2 49

 Household net worth as percentage of

 50 disposable personal income (SAAR) 489.7 508.6 516.4 517.9 525.2 506.5 519.2 508.8 517.0 510.0 50

 Owners’ equity in household real

 51 estate (10) 3249.2 3499.6 3770.8 4063.7 4381.7 4310.6 4303.4 4419.9 4513.6 4622.3 51

 Owners’ equity as percentage of

 52 household real estate (11) 69.2 68.0 67.4 66.4 66.0 63.4 61.7 60.9 60.1 59.4 52

(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 33) 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 35.

(11) Line 51 divided by line 4.
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Historical Annuals, 1985-1994, 109

B.102 Balance Sheet of Nonfinancial Corporate Business

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 With nonfinancial assets stated at either market value or replacement cost:

 1 Assets 7799.9 8150.4 8673.4 9430.1 9973.0 10234.5 10204.7 10215.0 10694.0 11364.6 1

 2 Nonfinancial assets 5326.5 5507.9 5800.0 6177.4 6491.8 6645.3 6489.9 6337.3 6468.1 6868.8 2

 3 Real estate (1) 2872.9 2956.9 3096.1 3297.0 3446.5 3432.4 3204.1 2945.7 2930.1 3100.7 3

 4 Equipment (2) 1417.2 1492.3 1553.9 1636.1 1720.1 1814.9 1863.2 1917.6 1996.7 2109.1 4

 5 Intellectual property products (2) 315.8 343.8 378.4 411.0 448.5 488.1 527.7 563.6 598.4 642.8 5

 6 Inventories (2) 720.6 714.9 771.5 833.3 876.8 909.8 894.9 910.4 942.9 1016.2 6

 7 Financial assets 2473.5 2642.5 2873.4 3252.7 3481.2 3589.3 3714.9 3877.7 4225.9 4495.8 7

 8 Foreign deposits 16.0 19.2 16.3 21.6 14.7 14.7 16.4 15.8 14.5 15.7 8

 9 Checkable deposits and currency 126.5 128.1 137.7 151.6 160.7 166.9 173.8 169.6 190.2 202.1 9

 10 Time and savings deposits 69.3 85.5 85.9 82.3 80.6 74.6 77.6 76.0 92.0 96.4 10

 11 Money market fund shares 14.5 14.9 15.8 10.3 10.4 19.7 24.1 37.6 33.9 37.1 11

 12 Security RPs 3.4 5.1 3.4 5.0 2.8 2.1 1.6 5.1 2.5 2.2 12

 13 Commercial paper 10.5 10.2 15.0 13.6 14.3 13.8 14.7 17.0 19.4 18.8 13

 14 Treasury securities 41.1 40.3 31.8 27.9 51.4 37.6 43.4 60.6 48.8 50.8 14

 15 Agency- and GSE-backed securities 4.0 2.4 2.6 6.0 9.2 3.3 5.1 8.6 19.1 19.9 15

 16 Municipal securities 25.6 25.1 19.4 16.8 32.4 24.7 44.8 45.8 54.7 56.7 16

 17 Mortgages 57.0 50.2 51.5 68.1 54.4 52.8 59.0 60.0 52.3 56.4 17

 18 Consumer credit 42.5 47.0 54.0 60.8 63.8 67.1 63.0 65.7 77.2 86.6 18

 19 Trade receivables 739.3 741.5 805.3 895.9 938.0 967.2 961.4 988.9 1035.0 1107.0 19

 20 Mutual fund shares (1) 10.8 15.7 12.8 10.6 11.7 9.7 14.8 21.1 29.8 31.1 20

 21 Miscellaneous assets 1312.9 1457.5 1621.9 1882.1 2036.8 2135.1 2215.1 2305.7 2556.4 2715.2 21

 22 Liabilities 3321.0 3509.6 3784.5 4201.8 4542.8 4739.8 4840.4 5120.5 5400.0 5639.8 22

 23 Credit market instruments 1632.1 1860.6 2053.0 2257.3 2448.4 2577.4 2519.7 2540.0 2686.9 2884.8 23

 24 Commercial paper 72.2 62.9 73.8 85.7 107.1 116.9 98.5 107.1 117.8 139.2 24

 25 Municipal securities (3) 127.0 117.1 116.2 116.4 115.5 115.2 114.0 118.3 124.9 131.7 25

 26 Corporate bonds (4) 578.2 705.4 784.1 887.2 961.1 1008.2 1086.9 1154.5 1337.9 1428.5 26

 27 Depository institution loans n.e.c. 447.0 514.5 517.8 559.2 598.8 588.2 537.6 510.4 503.2 551.7 27

 28 Other loans and advances 238.2 275.5 308.4 353.8 402.7 463.1 405.6 411.8 384.8 422.0 28

 29 Mortgages 169.3 185.3 252.7 255.0 263.2 285.9 277.1 237.9 218.3 211.6 29

 30 Trade payables 480.4 478.5 522.8 577.0 598.5 626.9 650.1 683.5 720.0 797.4 30

 31 Taxes payable 39.0 42.8 47.9 44.4 38.3 38.3 28.9 35.3 40.7 40.3 31

 32 Miscellaneous liabilities 1169.5 1127.7 1160.8 1323.2 1457.6 1497.2 1641.7 1861.7 1952.3 1917.2 32

 33 Net worth (market value) 4479.0 4640.9 4888.9 5228.3 5430.2 5494.7 5364.3 5094.5 5294.0 5724.9 33

 Memo:

 Replacement-cost value of structures:

 34 Residential 51.4 55.1 57.2 59.1 60.0 61.0 62.1 64.4 65.9 68.7 34

 35 Nonresidential 2000.1 2049.1 2144.4 2276.9 2399.0 2518.5 2552.4 2636.6 2769.6 2911.9 35

 36 Market value of equities outstanding 1916.9 2240.8 2286.7 2558.1 3138.6 2955.8 3998.5 4361.2 4842.3 4796.8 36

 37 Debt/net worth (percent) (5) 36.4 40.1 42.0 43.2 45.1 46.9 47.0 49.9 50.8 50.4 37

 38 Debt/equities (percent) (6) 85.1 83.0 89.8 88.2 78.0 87.2 63.0 58.2 55.5 60.1 38

 39 Equities/net worth (percent) (7) 42.8 48.3 46.8 48.9 57.8 53.8 74.5 85.6 91.5 83.8 39

 With nonfinancial assets stated at historical cost:

 40 Assets (8) 5704.9 6040.4 6486.6 7091.5 7533.3 7945.9 8238.9 8606.5 9194.5 9745.7 40

 41 Nonfinancial assets 3231.4 3397.9 3613.1 3838.7 4052.1 4356.7 4524.0 4728.8 4968.5 5249.8 41

 42 Real estate 1166.7 1239.0 1309.1 1389.5 1469.0 1653.6 1730.4 1793.0 1866.1 1941.0 42

 43 Equipment 1071.3 1138.8 1194.8 1259.0 1329.7 1401.1 1461.8 1532.5 1624.5 1739.5 43

 44 Intellectual property products 268.6 298.6 326.6 355.3 389.5 426.6 465.0 500.8 537.3 573.4 44

 45 Inventories 724.8 721.5 782.6 834.9 863.9 875.4 866.8 902.5 940.6 996.0 45

 46 Net worth (historical cost) (9) 2383.9 2530.9 2702.0 2889.7 2990.4 3206.1 3398.4 3486.0 3794.5 4105.9 46

 Memo:

 Historical-cost value of structures:

 47 Residential 19.3 20.8 22.1 23.1 24.2 25.1 26.1 27.0 27.9 29.2 47

 48 Nonresidential 1029.7 1094.3 1154.7 1216.4 1282.7 1367.5 1437.8 1496.7 1559.7 1623.8 48

 49 Debt/net worth (percent) (10) 68.5 73.5 76.0 78.1 81.9 80.4 74.1 72.9 70.8 70.3 49

 (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 23 divided by line 33.

 (6) Line 23 divided by line 36

 (7) Line 36 divided by line 33.

 (8) Sum of lines 7 and 41.

 (9) Line 40 less line 22.

 (10) Line 23 divided by line 46.
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110 Historical Annuals, 1985-1994,

B.103 Balance Sheet of Nonfinancial Noncorporate Business

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Assets 3647.0 3832.1 4003.1 4264.8 4468.1 4506.7 4437.8 4408.0 4532.6 4783.9 1

 2 Nonfinancial assets 3346.0 3495.8 3672.2 3883.0 4078.3 4115.2 4038.3 3981.8 4078.8 4267.6 2

 3 Real estate (1) 2905.4 3053.6 3211.7 3397.1 3570.5 3590.3 3521.1 3453.0 3542.4 3709.0 3

 4 Residential 1679.6 1816.7 1904.9 2004.4 2092.9 2028.8 2029.1 2028.1 2096.8 2195.8 4

 5 Nonresidential 1225.9 1236.9 1306.9 1392.8 1477.6 1561.5 1491.9 1424.8 1445.6 1513.2 5

 6 Equipment (2) 283.6 294.4 303.5 319.5 333.5 341.9 342.6 342.6 348.6 360.7 6

 7 Residential (3) 20.7 22.3 23.9 25.6 26.9 27.9 28.2 28.9 30.1 31.2 7

 8 Nonresidential 262.9 272.0 279.6 294.0 306.6 314.0 314.3 313.7 318.6 329.5 8

 9 Intellectual property products (2) 21.0 23.4 27.5 30.9 34.7 38.2 41.5 44.8 47.9 51.1 9

 10 Inventories (2) 135.9 124.5 129.5 135.5 139.5 144.8 133.1 141.5 139.9 146.7 10

 11 Financial assets 301.1 336.3 330.9 381.8 389.8 391.5 399.5 426.2 453.8 516.2 11

 12 Checkable deposits and currency 71.8 74.3 75.2 79.8 81.0 83.2 85.3 90.7 93.9 106.3 12

 13 Time and savings deposits 40.6 42.3 40.4 47.0 48.4 51.0 53.2 60.2 63.6 67.2 13

 14 Money market fund shares 0.0 3.2 3.1 5.3 5.8 6.7 7.4 9.7 10.9 15.1 14

 15 Credit market instruments 49.7 55.4 47.7 58.2 47.1 43.6 38.3 38.1 36.9 43.7 15

 16 Treasury securities 5.8 10.8 9.8 10.3 11.9 12.5 12.2 13.0 13.6 18.3 16

 17 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.5 1.6 17

 18 Mortgages 44.0 44.7 37.9 47.8 35.1 31.1 26.0 25.2 21.9 23.8 18

 19 Consumer credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 Trade receivables 63.8 74.8 76.3 88.3 95.1 97.8 96.7 103.8 108.7 125.0 20

 21 Miscellaneous assets 75.2 86.1 88.2 103.3 112.6 109.2 118.6 123.6 139.7 158.9 21

 22 Insurance receivables 56.3 62.9 57.8 58.2 63.8 60.0 65.0 64.1 66.7 68.7 22

 23 Equity investment in GSEs (4) 4.5 3.9 3.5 3.5 2.8 2.4 2.6 2.5 2.8 3.0 23

 24 Other 14.4 19.3 27.0 41.6 46.0 46.8 51.0 57.0 70.2 87.2 24

 25 Liabilities 1152.0 1214.3 1266.5 1381.3 1459.9 1452.6 1429.6 1424.4 1409.4 1448.3 25

 26 Credit market instruments 933.0 1000.2 1058.2 1141.9 1190.2 1190.5 1162.0 1135.5 1114.9 1129.3 26

 27 Depository institution loans n.e.c. 131.4 132.0 140.7 150.0 162.7 166.7 166.7 169.5 173.9 189.2 27

 28 Other loans and advances 93.8 93.0 94.8 93.8 97.9 98.9 97.6 98.4 95.5 99.2 28

 29 Mortgages 707.8 775.2 822.7 898.1 929.6 924.9 897.6 867.6 845.5 840.9 29

 30 Trade payables 66.6 51.4 56.5 63.9 66.5 66.4 67.8 74.1 75.5 83.0 30

 31 Taxes payable 21.6 23.3 23.9 26.8 31.4 32.0 32.5 33.1 31.4 32.8 31

 32 Miscellaneous liabilities 130.8 139.4 127.9 148.7 171.8 163.7 167.4 181.7 187.6 203.3 32

 33 Net worth (5) 2495.0 2617.8 2736.5 2883.5 3008.2 3054.1 3008.2 2983.6 3123.2 3335.5 33

 Memo:

 Replacement-cost value of structures:

 34 Residential 1081.2 1158.4 1211.3 1258.8 1294.2 1322.6 1336.0 1380.4 1424.6 1480.1 34

 35 Nonresidential 528.4 561.8 600.0 644.3 684.7 713.3 715.3 726.4 752.1 784.7 35

 36 Debt/net worth (percent) (6) 37.4 38.2 38.7 39.6 39.6 39.0 38.6 38.1 35.7 33.9 36

(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 25. Included in table B.100, line 31.

(6) Line 26 divided by line 33.
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R.100 Change in Net Worth of Households and Nonprofit Organizations

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Change in net worth (1) 1385.0 1548.8 1177.4 1626.3 1756.3 554.5 1445.6 1138.6 1431.3 890.5 1

 2 Net investment 382.8 558.1 476.2 504.6 398.0 612.9 454.0 546.2 555.1 500.6 2

 3 Net physical investment 189.8 227.4 231.4 239.8 225.4 188.4 135.2 181.2 214.8 259.8 3

 4 Capital expenditures 537.4 608.8 647.7 687.5 707.2 700.6 672.8 737.5 803.0 881.9 4

 5 - Consumption of fixed capital 347.5 381.4 416.3 447.8 481.8 512.2 537.6 556.3 588.3 622.1 5

 6 Net lending (+) or net borrowing (-) 192.9 330.7 244.8 264.8 172.7 424.5 318.8 365.0 340.4 240.8 6

 7 Net acquisition of financial assets 528.8 596.5 498.7 539.7 465.5 663.4 527.1 572.5 609.0 569.7 7

 8 - Net increase in liabilities 335.9 265.8 253.9 275.0 292.8 238.9 208.3 207.5 268.6 328.9 8

 Holding gains on assets

 9 at market value (2) 1000.1 964.8 645.2 1066.4 1325.3 -95.1 954.8 566.5 818.4 309.4 9

 10 Real estate 513.7 369.2 357.5 440.1 448.8 58.4 38.1 133.1 122.1 164.7 10

 11 Corporate equities 350.9 387.1 112.3 416.8 500.4 -135.3 851.8 307.8 461.5 2.5 11

 12 Mutual fund shares 16.6 25.6 -13.2 16.3 46.6 -33.1 30.9 21.1 71.1 -4.6 12

 13 Equity in noncorporate business 86.2 130.0 143.5 177.1 156.0 21.6 -75.8 -57.4 91.4 164.1 13

 14 Life insurance reserves 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Pension entitlements 32.7 52.9 45.2 16.1 173.5 -6.8 109.9 161.9 72.3 -17.3 15

 16 Equity investment under PPIP 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 Holding gains on assets

 17 at current cost (2) 15.4 38.8 31.9 46.0 31.3 38.2 40.1 21.1 35.8 30.0 17

 18 Consumer durable goods 14.2 36.6 29.5 43.6 29.0 35.5 38.9 19.6 35.0 28.3 18

 19 Equipment 0.7 1.8 1.5 1.5 1.4 1.8 0.4 0.8 0.3 0.4 19

 20 Intellectual property products 0.5 0.4 1.0 1.0 0.9 0.8 0.7 0.7 0.5 1.3 20

 21 Other volume changes (3) -13.2 -12.9 24.0 9.3 1.6 -1.4 -3.2 4.8 21.9 50.4 21

 Memo:

 22 Net worth outstanding (4) 15174.7 16723.5 17900.9 19527.3 21283.6 21838.0 23283.6 24422.2 25853.5 26744.0 22

 23 Disposable personal income 3098.5 3287.9 3466.3 3770.4 4052.1 4311.8 4484.5 4800.3 5000.2 5244.2 23

(1) Sum of net investment (line 2), holding gains (lines 9 and 17), and other volume changes (line 21).

(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 44.
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112 Historical Annuals, 1985-1994,

R.102 Change in Net Worth of Nonfinancial Corporate Business

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Change in net worth (1) 127.2 161.9 248.0 339.4 201.9 64.6 -130.4 -269.8 199.6 430.9 1

 2 Net investment -100.4 -31.2 14.1 -80.1 -137.9 25.6 128.4 127.5 285.4 195.2 2

 3 Net physical investment 148.5 110.9 133.9 142.3 152.2 147.8 94.5 116.3 150.0 209.1 3

 4 Capital expenditures 447.4 435.7 452.1 477.6 515.7 537.7 523.6 550.8 602.7 680.2 4

 5 - Consumption of fixed capital 298.9 317.7 334.5 357.5 379.8 402.7 424.2 437.3 456.7 483.5 5

 6 - Inventory valuation adjustment 0.0 7.1 -16.2 -22.2 -16.3 -12.9 4.9 -2.8 -4.0 -12.4 6

 7 Net lending (+) or net borrowing (-) -164.4 -57.1 -44.3 -92.9 -166.0 -59.2 15.6 -15.8 114.1 31.0 7

 8 Net acquisition of financial assets 213.0 131.5 228.8 350.4 181.3 124.6 83.0 145.6 332.6 273.6 8

 9 - Net increase in liabilities 377.4 188.6 273.1 443.3 347.3 183.8 67.4 161.4 218.5 242.6 9

 10 Net corporate equity issues -84.5 -85.0 -75.5 -129.5 -124.2 -63.0 18.3 27.0 21.3 -44.9 10

 Holding gains on assets

 11 at market value (2) 48.6 39.9 93.9 148.7 102.8 -82.7 -270.8 -286.7 -51.1 135.9 11

 12 Real estate 48.6 38.7 94.1 148.2 100.3 -81.7 -273.5 -288.0 -53.0 136.7 12

 13 Mutual fund shares -0.1 1.1 -0.2 0.5 2.5 -1.0 2.7 1.3 1.8 -0.8 13

 Holding gains on assets less

 14 liabilities at current cost (2) 32.2 34.5 82.7 79.1 51.5 103.7 12.8 -7.6 -7.4 51.1 14

 15 Equipment 28.5 40.2 38.0 51.9 48.7 60.2 24.9 19.9 20.3 29.7 15

 16 Intellectual property products 6.3 5.6 15.4 12.9 12.7 12.1 11.9 9.4 7.5 17.6 16

 17 Inventories (3) -3.7 -6.1 9.0 11.6 0.9 8.4 -10.7 2.6 3.3 10.6 17

 18 Direct investment abroad 3.0 6.2 30.5 10.3 -12.9 22.6 -14.0 -33.9 -37.2 -0.1 18

 19 - Foreign direct investment in U.S. 1.8 11.3 10.2 7.8 -2.1 -0.5 -0.7 5.6 1.3 6.7 19

 20 Other volume changes (4) 146.8 118.7 57.3 191.8 185.4 17.9 -0.8 -103.0 -27.3 48.6 20

 Memo:

 21 Net worth outstanding (5) 4479.0 4640.9 4888.9 5228.3 5430.2 5494.7 5364.3 5094.5 5294.0 5724.9 21

(1) Sum of net investment (line 2), holding gains (lines 11 and 14), and other volume changes (line 20).

(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 33.
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R.103 Change in Net Worth of Nonfinancial Noncorporate Business

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Change in net worth (1) 68.5 122.7 118.8 147.0 124.7 45.9 -45.9 -24.6 139.6 212.3 1

 2 Net capital transfers paid 0.0 0.0 0.0 0.0 -0.4 0.0 -0.1 -1.8 -0.4 -4.1 2

 3 Net investment -17.0 -6.7 -24.2 -29.9 -30.2 24.2 30.3 34.9 48.8 52.3 3

 4 Net physical investment 51.5 43.5 39.1 31.5 39.6 20.7 -0.8 2.7 5.4 29.2 4

 5 Capital expenditures 132.5 129.2 129.5 127.5 141.2 126.1 106.8 111.2 116.7 144.5 5

 6 - Consumption of fixed capital 81.0 85.7 90.5 96.0 101.5 105.4 107.6 108.5 111.3 115.2 6

 7 Net lending (+) or net borrowing (-) -51.5 -43.5 -39.1 -31.5 -39.3 -20.7 1.0 -0.9 -5.1 -25.1 7

 8 Net acquisition of financial assets 33.9 26.1 -5.4 50.9 8.0 1.8 8.0 26.6 27.6 62.4 8

 9 - Net increase in liabilities 85.4 69.6 33.6 82.4 47.3 22.5 7.1 27.5 32.7 87.5 9

 10 Proprietor’s net investment (2) -17.0 -6.7 -24.2 -29.9 -30.5 24.2 30.2 33.1 48.5 48.2 10

 11 Holding gains on real estate (3) 88.8 106.7 121.8 151.2 141.6 2.0 -76.8 -71.2 79.5 159.9 11

 12 Residential 117.6 116.6 70.4 87.5 77.3 -73.8 -1.2 -0.4 63.3 98.2 12

 13 Nonresidential -28.7 -9.9 51.3 63.7 64.4 75.9 -75.7 -70.7 16.2 61.7 13

 14 Holding gains on assets at current cost (3) -2.7 -0.3 15.6 28.2 15.7 14.2 1.0 16.1 13.0 7.4 14

 15 Residential equipment -0.2 0.3 0.2 0.4 0.2 0.1 -0.3 0.0 0.5 0.5 15

 16 Nonresidential equipment 4.4 9.8 4.5 11.5 11.8 10.4 11.0 13.4 9.1 12.5 16

 17 Intellectual property products 0.2 0.1 1.7 0.8 1.0 1.2 0.9 0.6 0.7 1.1 17

 18 Inventories -7.2 -10.5 9.2 15.5 2.6 2.5 -10.6 2.1 2.7 -6.7 18

 19 Other volume changes (4) -0.6 23.1 5.6 -2.5 -2.1 5.5 -0.3 -2.6 -1.4 -3.1 19

 Memo:

 20 Net worth outstanding (5) 2495.0 2617.8 2736.5 2883.5 3008.2 3054.1 3008.2 2983.6 3123.2 3335.5 20

(1) Sum of net capital transfers paid (line 2), net investment (line 3), holding gains (lines 11 and 14), and other volume changes (line 19).

(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 33.
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B.100.e Balance Sheet of Households and Nonprofit Organizations with Equity Detail (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Assets 17542.6 19355.7 20741.6 22667.4 24709.1 25531.6 27189.1 28535.2 30237.4 31456.1 1

 2 Nonfinancial assets 6789.0 7426.1 8047.5 8769.0 9469.9 9750.7 9962.1 10286.5 10655.1 11101.5 2

 3 Financial assets 10753.6 11929.6 12694.1 13898.4 15239.2 15781.0 17227.0 18248.7 19582.3 20354.6 3

 4 Deposits 2550.9 2808.3 2943.9 3136.9 3292.1 3365.7 3368.0 3330.6 3265.0 3209.7 4

 5 Credit market instruments 967.4 1001.0 1176.4 1381.8 1479.6 1741.2 1824.9 1886.5 1995.5 2377.5 5

 6 Equity shares at market value 1543.9 1853.5 1882.0 2188.4 2712.5 2493.9 3489.8 3973.6 4626.9 4594.3 6

 7 Directly held 1229.5 1494.0 1462.6 1757.1 2147.5 1961.4 2759.2 3094.2 3437.0 3294.2 7

 8 Indirectly held 314.4 359.4 419.4 431.2 565.0 532.6 730.6 879.4 1189.9 1300.1 8

 9 Life insurance companies 33.3 38.3 44.0 45.7 59.3 57.8 93.8 113.3 163.5 199.6 9

 10 Private pension funds (2) 182.2 178.0 214.9 220.9 287.7 278.3 376.8 440.5 537.1 567.7 10

 11 Federal govt. retirement funds (2) 0.0 0.0 0.0 0.0 0.1 0.3 1.0 2.4 4.4 6.2 11

 12 Mutual funds 98.9 143.2 160.6 164.6 218.0 196.1 259.0 323.2 484.9 526.7 12

 13 Other 5691.4 6266.8 6691.7 7191.3 7755.0 8180.1 8544.3 9058.0 9694.8 10173.0 13

 14 Liabilities 2367.9 2632.1 2840.7 3140.2 3425.5 3693.6 3905.5 4113.0 4383.9 4712.1 14

 15 Net worth 15174.7 16723.5 17900.9 19527.3 21283.6 21838.0 23283.6 24422.2 25853.5 26744.0 15

 Memo:

 Equity shares (line 6) as a percent of

 16 Total assets (line 1) 8.8 9.6 9.1 9.7 11.0 9.8 12.8 13.9 15.3 14.6 16

 17 Financial assets (line 3) 14.4 15.5 14.8 15.7 17.8 15.8 20.3 21.8 23.6 22.6 17

(1) Estimates of equity shares (lines 7 through 12) 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.

(2) Defined contribution plans. Assets held by defined benefit pension funds are not considered assets of the household sector. Defined benefit pension entitlements are included in line 13.
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F.105.c Consolidated Statement for Federal, State, and Local Governments

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Current receipts, NIPA basis 1216.0 1291.7 1405.5 1505.5 1629.8 1710.9 1761.0 1846.0 1950.1 2094.0 1

 2 Personal current taxes 417.3 437.2 489.1 504.9 566.1 592.7 586.6 610.5 646.5 690.5 2

 3 Taxes on production and imports 308.1 323.4 347.5 374.5 398.9 425.0 457.1 483.4 503.1 545.2 3

 4 Taxes on corporate income 96.5 106.5 127.1 137.2 141.5 140.6 133.6 143.1 165.4 186.7 4

 5 Taxes from the rest of the world 1.9 1.7 2.0 2.4 2.7 3.0 2.6 2.6 2.7 3.1 5

 6 Contributions for govt. social insurance 282.8 304.9 324.6 363.2 386.9 412.1 432.2 457.1 479.6 510.7 6

 7 Income receipts on assets 85.7 91.1 86.7 91.4 95.4 98.9 97.3 89.7 87.7 87.1 7

 8 Current transfer receipts 22.2 25.0 26.3 27.0 31.6 35.3 43.8 49.5 54.2 58.8 8

 9 Current surplus of government enterprises 1.3 2.0 2.2 5.0 6.7 3.2 7.8 9.9 10.8 11.8 9

 10 Current expenditures, NIPA basis 1391.4 1483.9 1556.6 1645.9 1779.0 1918.3 2032.3 2216.1 2299.1 2374.6 10

 11 Consumption expenditures 688.6 736.4 776.1 819.8 881.5 948.0 1004.1 1049.3 1074.2 1109.6 11

 12 Government social benefits 406.7 432.4 451.7 480.4 524.6 578.9 654.5 735.7 782.9 820.0 12

 13 Other current transfer payments 13.8 14.2 12.7 13.2 13.5 13.5 -25.6 20.6 21.7 19.9 13

 14 Interest payments 261.0 276.0 285.8 303.0 332.0 350.9 371.9 380.5 383.7 392.6 14

 15 Subsidies 21.4 24.9 30.3 29.5 27.4 27.0 27.5 30.1 36.7 32.5 15

 16 Net saving, NIPA basis -175.4 -192.2 -151.1 -140.4 -149.2 -207.4 -271.3 -370.2 -349.0 -280.7 16

 17 + Consumption of fixed capital 140.2 150.6 161.6 174.1 186.0 197.8 208.8 215.6 223.6 231.2 17

 18 - Insurance and pension fund reserves (1) 2.2 3.0 1.8 2.1 2.1 1.8 2.4 2.4 1.7 1.6 18

 19 - Contr. for govt. soc. insur., U.S.-affiliated areas 1.4 1.5 1.5 1.7 1.7 2.0 2.1 2.1 2.2 2.5 19

 20 - Net capital transfers (2) -8.8 -9.9 -10.4 -11.0 -12.1 -8.4 -10.3 -15.6 -16.8 -19.0 20

 21 = Gross saving less net capital transfers -30.0 -36.2 17.6 40.9 45.1 -4.9 -56.7 -143.5 -112.5 -34.5 21

 22 Gross investment -27.2 -30.3 38.0 -6.1 38.6 36.2 -67.0 -144.3 -129.8 33.7 22

 23 Fixed investment 219.9 238.1 254.6 258.4 270.4 290.4 294.1 296.1 291.9 294.2 23

 24 Nonproduced nonfinancial assets 1.9 0.7 3.7 4.2 4.1 4.9 6.0 6.0 6.0 6.3 24

 25 Net lending (+) or net borrowing (-) -248.9 -269.0 -220.3 -268.7 -236.0 -259.2 -367.1 -446.5 -427.7 -266.8 25

 26 Net acquisition of financial assets 110.4 33.0 27.3 35.5 75.0 73.7 94.5 1.3 -23.6 47.8 26

 27 U.S. official reserve assets 1.9 -0.7 -5.4 1.4 12.7 0.8 -2.6 -1.7 1.0 -2.7 27

 28 Checkable deposits and currency 14.1 2.9 -8.8 12.0 -13.8 3.6 33.9 -15.7 22.7 -19.9 28

 29 Time and savings deposits 7.1 2.5 7.3 -2.2 -2.9 -2.9 -10.9 -6.8 -1.6 6.4 29

 30 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.8 4.1 30

 31 Security RPs 21.0 4.8 11.9 -1.0 16.1 5.7 6.7 4.6 10.7 -15.1 31

 32 Credit market instruments 53.5 21.4 10.4 22.1 37.8 30.6 32.4 7.3 -21.9 16.7 32

 33 Open market paper 0.0 0.0 0.2 0.5 0.9 2.4 5.0 5.2 3.7 4.4 33

 34 Agency- and GSE-backed securities (3) 30.5 -1.4 5.2 22.8 30.9 -11.6 11.7 12.2 0.1 11.6 34

 35 Municipal securities 0.6 0.8 -0.2 0.1 0.5 0.8 0.0 -1.1 -1.0 -0.9 35

 36 Corporate and foreign bonds 3.0 2.0 2.0 1.0 2.0 1.0 2.0 2.9 5.6 5.4 36

 37 Mortgages 11.6 12.3 3.4 2.9 5.6 40.8 18.9 -12.0 -20.8 -11.8 37

 38 Consumer credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.4 6.5 38

 39 Other loans and advances (4) 7.7 7.7 -0.2 -5.1 -2.1 -2.8 -5.3 0.1 -9.8 1.5 39

 40 Corporate equities 0.0 0.2 0.5 0.9 1.1 1.8 0.0 1.0 0.8 1.5 40

 41 Mutual fund shares 0.0 0.0 0.0 0.1 1.4 3.5 2.8 4.6 5.1 8.2 41

 42 Trade receivables 7.5 -1.4 11.7 4.8 6.7 0.7 -2.2 -3.6 1.2 1.7 42

 43 Taxes receivable -2.0 1.0 -5.7 -3.2 -0.8 -5.8 -5.2 -0.4 -5.8 -5.0 43

 44 Miscellaneous assets 7.4 2.2 5.2 0.6 16.7 35.8 39.7 12.1 -37.6 52.0 44

 45 Net increase in liabilities 359.3 302.0 247.6 304.2 311.0 332.9 461.5 447.8 404.1 314.6 45

 46 SDR allocations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 46

 47 SDR certificates 0.1 0.3 0.0 0.0 3.5 1.5 0.0 -2.0 0.0 0.0 47

 48 Treasury currency 0.4 0.5 0.5 0.5 0.6 1.0 0.0 0.2 0.4 0.7 48

 49 Credit market instruments 288.4 231.7 194.8 202.2 189.1 251.6 344.1 338.0 285.2 187.7 49

 50 Savings bonds 5.3 13.6 7.8 8.5 8.2 8.5 11.9 19.1 14.7 8.0 50

 51 Treasury bills and other Treasury securities (4) 127.8 145.0 92.7 122.6 131.7 188.8 255.1 302.0 204.1 225.5 51

 52 Budget agency securities -0.0 0.4 1.5 17.4 1.6 8.2 -13.8 0.2 7.8 0.2 52

 53 Municipal securities 155.4 72.8 92.8 53.7 47.6 46.2 90.8 16.6 58.7 -45.9 53

 54 Multifamily residential mortgages -0.1 -0.0 -0.0 -0.0 -0.0 -0.0 0.0 -0.0 -0.0 0.0 54

 55 Trade payables 19.4 24.1 17.6 18.8 20.4 7.1 8.2 11.5 17.9 15.8 55

 56 Insurance reserves 1.1 1.0 1.2 1.2 1.2 1.2 1.2 1.4 1.4 1.3 56

 57 Miscellaneous liabilities (5) 49.9 44.4 33.6 81.5 96.2 70.5 108.1 98.6 99.2 109.2 57

 58 Discrepancy -2.8 -5.9 -20.4 47.0 6.5 -41.1 10.3 0.8 17.3 -68.2 58

 Memo:

 59 Net govt. saving less fixed investment (6) -395.2 -430.3 -405.7 -398.8 -419.6 -497.7 -565.4 -666.3 -640.9 -574.8 59

 60 Adjustment between NIPA and FOF (7) 146.3 161.3 185.4 130.1 183.6 238.6 198.3 219.8 213.2 308.1 60

 61 Items to be financed (8) -248.9 -269.0 -220.3 -268.7 -236.0 -259.2 -367.1 -446.5 -427.7 -266.8 61

(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.
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116 Historical Annuals, 1985-1994,

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

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets 774.4 816.3 846.1 889.5 963.2 1042.0 1138.1 1139.3 1138.5 1193.0 1

 2 U.S. official reserve assets 25.1 28.0 29.1 27.7 32.3 39.7 39.1 38.8 40.2 41.4 2

 3 Checkable deposits and currency 48.8 50.1 38.0 57.0 50.8 49.4 81.3 63.4 85.7 63.2 3

 4 Time and savings deposits 67.1 69.7 77.0 74.8 71.8 68.9 58.0 51.2 49.6 56.0 4

 5 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.8 5.9 5

 6 Security RPs 74.1 79.0 90.9 89.9 106.0 111.8 118.4 123.1 133.7 118.6 6

 7 Credit market instruments 421.3 440.8 444.0 462.7 495.6 526.2 556.0 563.3 555.5 572.4 7

 8 Open market paper 0.0 0.0 0.2 0.7 1.6 4.0 9.0 14.1 17.9 22.3 8

 9 Agency- and GSE-backed securities (1) 105.1 103.7 108.9 131.7 162.6 151.0 162.7 174.9 175.0 186.6 9

 10 Municipal securities 9.6 10.4 10.2 10.3 10.8 11.6 11.6 10.5 9.5 8.6 10

 11 Corporate and foreign bonds 8.0 10.0 12.0 13.0 15.0 16.0 18.0 20.9 26.5 31.9 11

 12 Mortgages 127.5 140.4 143.8 146.7 152.2 193.1 212.0 200.0 193.3 181.5 12

 13 Consumer credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.4 6.9 13

 14 Other loans and advances (2) 171.1 176.4 168.9 160.3 153.3 150.6 142.7 142.8 133.0 134.6 14

 15 Corporate equities 0.0 0.2 0.7 1.7 3.3 4.8 6.3 7.8 9.3 10.6 15

 16 Mutual fund shares 0.0 0.0 0.0 0.1 1.5 4.8 9.4 14.9 21.3 29.1 16

 17 Trade receivables 76.2 74.8 86.6 91.4 98.1 98.8 96.6 93.0 94.2 95.9 17

 18 Taxes receivable 38.1 47.9 49.3 58.1 61.0 59.1 54.8 53.8 55.0 56.1 18

 19 Miscellaneous assets 23.5 25.7 30.6 26.1 42.8 78.4 118.2 130.2 92.1 143.9 19

 20 Total liabilities 3134.5 3434.2 3699.6 3979.7 4294.5 4657.1 5029.1 5565.9 5913.3 6231.1 20

 21 SDR allocations 5.4 6.0 7.0 6.6 6.4 7.0 7.0 6.7 6.7 7.2 21

 22 SDR certificates 4.7 5.0 5.0 5.0 8.5 10.0 10.0 8.0 8.0 8.0 22

 23 Treasury currency 13.3 13.8 14.2 14.7 15.3 16.3 16.3 16.5 17.0 17.6 23

 24 Credit market instruments 1982.3 2215.0 2409.8 2624.6 2813.7 3065.3 3409.4 3747.4 4032.6 4220.3 24

 25 Savings bonds 79.8 93.3 101.1 109.6 117.7 126.2 138.1 157.3 171.9 179.9 25

 26 Treasury bills and other Treasury securities (3) 1248.1 1393.2 1485.9 1608.5 1740.2 1929.0 2184.1 2486.1 2690.2 2915.6 26

 27 Budget agency securities 3.2 3.6 5.1 22.6 24.2 32.4 18.6 18.8 26.6 26.7 27

 28 Municipal securities 651.1 724.9 817.7 884.0 931.6 977.8 1068.6 1085.2 1143.9 1097.9 28

 29 Multifamily residential mortgages 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

 30 Trade payables 156.3 180.5 198.0 216.8 237.2 244.3 252.5 264.0 282.0 297.8 30

 31 Insurance reserves 17.8 18.9 20.1 21.2 22.4 23.6 24.8 26.2 27.6 28.9 31

 32 Miscellaneous liabilities (4) 954.6 995.0 1045.4 1090.7 1190.8 1290.5 1309.0 1496.9 1539.4 1651.4 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.
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Historical Annuals, 1985-1994, 117

F.117.b Private Pension Funds: Defined Benefit Plans

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Net acquisition of financial assets (1) 38.7 30.5 38.6 50.4 45.2 50.9 51.4 47.4 51.1 52.1 1

 2 Checkable deposits and currency -0.0 -0.6 -0.2 1.9 -1.0 -0.5 -0.1 0.0 -0.0 0.8 2

 3 Time and savings deposits 4.9 8.7 1.1 -3.5 9.6 -5.5 5.5 -9.1 6.4 13.1 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 3.0 1.1 -0.1 1.6 0.3 -1.7 1.8 -1.1 -0.0 -4.2 5

 6 Credit market instruments 18.6 -6.6 2.5 28.3 41.6 32.0 12.8 17.1 22.9 35.6 6

 7 Open market paper 2.6 3.6 5.1 -3.9 -2.5 -1.7 1.8 -1.1 -0.0 -4.2 7

 8 Treasury securities 15.1 -7.2 -5.7 1.7 7.9 0.6 -8.9 -11.0 -5.6 10.1 8

 9 Agency- and GSE-backed securities 17.5 -4.3 7.6 13.5 21.8 20.5 12.8 11.5 15.9 30.7 9

 10 Corporate and foreign bonds -21.0 2.5 -1.3 11.2 8.8 11.2 13.8 20.8 14.0 2.7 10

 11 Mortgages 4.3 -1.2 -3.3 5.9 5.6 1.5 -6.8 -3.1 -1.4 -3.7 11

 12 Corporate equities 7.5 -9.5 -7.7 -0.4 -22.4 0.2 2.0 -19.0 10.4 -3.8 12

 13 Mutual fund shares 2.0 0.9 0.9 -0.6 0.0 0.4 1.4 2.8 4.6 16.2 13

 14 Miscellaneous assets 2.7 36.5 42.2 23.0 17.1 26.1 27.9 56.7 6.6 -5.5 14

 15 Unallocated insurance contracts (2) 0.0 3.4 4.9 -15.2 -1.9 -6.2 -2.2 -15.0 -8.1 8.4 15

 16 Contributions receivable 5.8 -0.1 -1.5 -0.3 4.4 2.8 8.2 5.6 7.4 6.2 16

 17 Claims of pension fund on sponsor (3) -12.1 30.5 44.6 28.1 21.3 54.1 23.9 72.8 6.9 -19.1 17

 18 Other 9.0 2.7 -5.8 10.4 -6.8 -24.6 -1.9 -6.7 0.6 -1.0 18

 19 Net increase in pension entitlements (liabilities) (4) 39.5 31.6 39.8 51.6 46.6 52.0 52.2 48.2 51.9 52.9 19

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(2) Assets of private pension plans held at life insurance companies (e.g., GICs, variable annuities); series begins 1985:Q4.

(3) Unfunded defined benefit pension entitlements. Negative values indicate overfunding.

(4) Actuarial value of accrued defined benefit pension entitlements.

F.117.c Private Pension Funds: Defined Contribution Plans (1)

Billions of dollars

 1 Net acquisition of financial assets 32.9 25.8 41.8 45.1 36.5 29.4 63.2 37.7 59.9 69.2 1

 2 Checkable deposits and currency -0.0 -0.8 -0.0 0.9 0.6 -0.3 -0.3 -0.1 0.2 0.1 2

 3 Time and savings deposits 3.7 1.8 -11.9 14.4 17.9 1.3 0.1 -8.0 -9.9 -6.3 3

 4 Money market fund shares 2.1 1.9 1.8 2.0 2.9 -0.0 1.0 1.0 6.5 5.3 4

 5 Security RPs 5.3 0.6 -0.3 0.6 1.8 0.4 1.9 1.3 0.9 -2.0 5

 6 Credit market instruments 4.5 11.2 11.1 -6.4 10.1 11.5 12.6 8.8 13.3 4.1 6

 7 Open market paper -0.2 0.7 2.1 -2.2 1.8 1.3 1.4 0.9 0.7 -2.0 7

 8 Treasury securities 5.0 -8.5 5.9 -2.0 1.8 -0.6 3.6 2.6 1.2 6.7 8

 9 Agency- and GSE-backed securities 4.9 -3.7 5.5 0.9 2.0 2.1 0.0 -0.9 -1.8 10.2 9

 10 Corporate and foreign bonds -5.2 24.2 -2.6 -5.7 3.4 8.6 7.4 6.9 13.2 -9.3 10

 11 Mortgages 0.0 -1.6 0.3 2.6 1.0 0.1 0.1 -0.6 -0.2 -1.4 11

 12 Corporate equities 3.9 -3.4 7.8 7.2 -11.5 0.4 10.8 21.7 25.9 0.7 12

 13 Mutual fund shares 0.0 0.9 1.3 0.1 5.1 6.2 9.8 19.4 29.9 39.0 13

 14 Miscellaneous assets 13.5 13.7 31.9 26.2 9.7 9.9 27.3 -6.4 -6.9 28.2 14

 15 Unallocated insurance contracts (2) 0.0 10.6 28.6 17.0 14.2 15.9 23.0 -4.6 1.3 22.1 15

 16 Contributions receivable 0.0 0.1 3.0 -0.9 2.8 3.2 3.9 4.4 4.9 5.5 16

 17 Other 13.5 3.0 0.2 10.1 -7.3 -9.2 0.4 -6.2 -13.2 0.6 17

 18 Net increase in pension entitlements (liabilities) 32.9 25.8 41.8 45.1 36.5 29.4 63.2 37.7 59.9 69.2 18

(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.226.i Individual Retirement Accounts (IRAs) (1)

Billions of dollars

 1 Total held at: 72.8 81.7 73.2 55.3 56.9 96.4 95.6 82.9 86.7 85.6 1

 2 U.S.-chartered depository institutions 32.2 25.9 20.0 23.1 22.9 19.0 12.8 -8.8 -12.0 -7.4 2

 3 Credit unions 4.2 5.9 2.9 1.5 1.9 3.2 3.6 0.9 -0.3 -0.0 3

 4 Life insurance companies 7.8 5.6 7.9 8.0 -1.3 4.4 7.1 4.9 12.6 13.2 4

 5 Money market mutual funds 1.4 2.0 5.0 5.0 9.0 12.9 -0.1 3.0 5.0 13.7 5

 6 Mutual funds 11.1 19.0 15.9 8.0 10.2 10.3 41.1 38.9 59.5 11.7 6

 7 Other self-directed accounts 16.1 23.3 21.6 9.6 14.3 46.6 31.1 43.9 21.9 54.4 7

(1) Assets of the household sector (F.100). IRA assets are not included in pension entitlements (table F.226), except for those at life insurance companies. Figures for depositories (lines 2 and 3)

 include Keogh accounts. Variable annuities in IRAs are in the life insurance sector (line 4) and are excluded from the mutual fund sector (line 6) and from the money market fund sector (line 5).
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118 Historical Annuals, 1985-1994,

L.117.b Private Pension Funds: Defined Benefit Plans

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets (1) 771.1 826.1 886.6 955.3 1010.5 1074.4 1136.8 1202.8 1266.1 1313.6 1

 2 Checkable deposits and currency 1.4 0.8 0.6 2.5 1.6 1.0 1.0 1.0 1.0 1.8 2

 3 Time and savings deposits 41.0 49.6 50.7 47.3 56.9 51.3 56.8 47.6 54.1 67.1 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 13.9 15.0 14.9 16.5 16.8 15.0 16.9 15.8 15.8 11.6 5

 6 Credit market instruments 252.1 245.6 248.0 276.4 318.0 349.9 362.7 379.8 402.7 438.3 6

 7 Open market paper 14.4 18.0 23.1 19.2 16.8 15.0 16.9 15.8 15.8 11.6 7

 8 Treasury securities 96.4 89.2 83.5 85.1 93.0 93.6 84.7 73.7 68.1 78.2 8

 9 Agency- and GSE-backed securities 52.3 48.0 55.7 69.2 91.0 111.5 124.3 135.8 151.7 182.4 9

 10 Corporate and foreign bonds 77.8 80.3 79.0 90.2 99.0 110.1 123.9 144.7 158.7 161.4 10

 11 Mortgages 11.2 10.1 6.8 12.6 18.2 19.7 13.0 9.9 8.5 4.7 11

 12 Corporate equities 335.9 348.2 322.3 300.6 358.9 341.4 458.6 484.5 555.6 559.9 12

 13 Mutual fund shares 5.9 4.8 7.9 6.5 6.8 6.8 11.4 15.6 22.3 39.0 13

 14 Miscellaneous assets 120.9 162.0 242.1 305.5 251.7 308.9 229.5 258.4 214.5 195.9 14

 15 Unallocated insurance contracts (2) 81.8 85.6 91.8 78.2 80.1 73.6 77.3 69.6 69.7 79.2 15

 16 Contributions receivable 11.6 11.5 10.0 9.7 14.1 16.9 25.1 30.7 38.0 44.2 16

 17 Claims of pension fund on sponsor (3) -24.0 10.0 83.3 142.5 89.0 174.6 85.2 122.9 71.0 37.7 17

 18 Other 51.5 54.9 57.1 75.2 68.4 43.8 41.9 35.2 35.8 34.8 18

 19 Pension entitlements (liabilities) (4) 795.2 856.9 918.6 980.3 1042.0 1103.7 1165.4 1227.2 1289.0 1350.7 19

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(2) Assets of private pension plans held at life insurance companies (e.g., GICs, variable annuities); series begins 1985:Q4.

(3) Unfunded defined benefit pension entitlements. Negative values indicate overfunding.

(4) Actuarial value of accrued defined benefit pension entitlements.

L.117.c Private Pension Funds: Defined Contribution Plans (1)

Billions of dollars

 1 Total financial assets 431.7 469.7 550.7 594.4 710.3 729.3 879.4 958.5 1090.3 1160.2 1

 2 Checkable deposits and currency 1.9 1.1 1.1 2.0 2.6 2.3 2.0 2.0 2.2 2.3 2

 3 Time and savings deposits 35.6 37.4 25.5 39.9 57.8 59.1 59.2 51.1 41.3 35.0 3

 4 Money market fund shares 9.1 11.0 12.8 14.8 17.8 17.8 18.8 19.8 26.3 31.6 4

 5 Security RPs 5.3 5.9 5.6 6.2 8.1 8.5 10.4 11.6 12.6 10.6 5

 6 Credit market instruments 76.9 88.1 99.2 92.8 102.9 114.4 127.0 135.9 149.1 153.2 6

 7 Open market paper 7.7 8.4 10.5 8.3 10.1 11.4 12.8 13.7 14.4 12.4 7

 8 Treasury securities 32.1 23.6 29.5 27.6 29.4 28.8 32.4 35.0 36.3 43.0 8

 9 Agency- and GSE-backed securities 14.8 11.1 16.6 17.5 19.5 21.6 21.7 20.7 18.9 29.1 9

 10 Corporate and foreign bonds 19.5 43.7 41.1 35.4 38.8 47.4 54.8 61.8 75.0 65.7 10

 11 Mortgages 2.8 1.2 1.4 4.0 5.1 5.2 5.3 4.7 4.5 3.1 11

 12 Corporate equities 179.8 175.3 210.3 214.6 276.6 264.5 347.6 389.2 458.7 453.8 12

 13 Mutual fund shares 5.2 7.3 11.9 16.9 26.2 33.7 55.0 80.6 119.9 166.9 13

 14 Miscellaneous assets 117.9 143.8 184.2 207.1 218.4 229.1 259.4 268.4 280.3 307.0 14

 15 Unallocated insurance contracts (2) 49.9 61.3 94.5 108.7 124.6 141.2 167.2 178.0 198.2 218.7 15

 16 Contributions receivable 7.1 7.2 10.2 9.3 12.2 15.4 19.3 23.7 28.6 34.1 16

 17 Other 60.9 75.2 79.4 89.0 81.7 72.5 72.9 66.7 53.6 54.2 17

 18 Pension entitlements (liabilities) 431.7 469.7 550.7 594.4 710.3 729.3 879.4 958.5 1090.3 1160.2 18

(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.226.i Individual Retirement Accounts (IRAs) (1)

Billions of dollars

 1 Total held at: 241.0 329.0 404.0 468.0 546.0 637.0 776.0 873.0 993.0 1056.0 1

 2 U.S.-chartered depository institutions 127.9 153.8 173.9 197.0 219.9 238.9 251.7 242.9 230.9 223.5 2

 3 Credit unions 12.1 18.1 21.0 22.4 24.3 27.5 31.1 32.1 31.8 31.8 3

 4 Life insurance companies 17.0 22.7 30.1 38.9 37.9 42.0 49.7 55.6 69.5 78.7 4

 5 Money market mutual funds 7.0 9.0 13.9 18.9 27.8 40.7 40.6 43.6 48.6 62.3 5

 6 Mutual funds 25.9 47.7 62.5 73.4 93.1 97.9 143.3 188.3 265.2 277.1 6

 7 Other self-directed accounts 51.2 77.8 102.6 117.4 143.1 189.9 259.6 310.5 347.0 382.6 7

(1) Assets of the household sector (L.100), shown at market value. IRA assets are not included in pension entitlements (table L.226), except for those at life insurance companies. Figures for depositories

 (lines 2 and 3) include Keogh accounts. Variable annuities in IRAs are in the life insurance sector (line 4) and are excluded from the mutual fund sector (line 6) and from the money market fund sector (line 5).
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Historical Annuals, 1985-1994, 119

F.127.e Equity Real Estate Investment Trusts (REITs)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Net acquisition of financial assets 2.7 3.9 7.5 4.4 2.1 -2.2 0.2 -1.1 1.4 -0.9 1

 2 Checkable deposits and currency 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 1.4 0.0 0.5 0.9 -0.2 -0.4 -0.4 0.3 -0.2 1.3 3

 4 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.0 0.1 4

 5 Mortgages 1.4 0.0 0.5 0.9 -0.2 -0.4 -0.4 0.2 -0.3 1.2 5

 6 Home 0.0 0.0 0.0 0.0 -0.0 0.0 -0.0 0.0 0.0 0.1 6

 7 Multifamily residential 0.1 0.0 0.1 0.2 -0.0 -0.1 -0.1 0.0 -0.1 0.1 7

 8 Commercial 1.2 0.0 0.4 0.7 -0.1 -0.3 -0.3 0.2 -0.2 1.0 8

 9 Miscellaneous assets 1.3 3.9 7.0 3.5 2.3 -1.8 0.6 -1.5 1.7 -2.2 9

 10 Net increase in liabilities 1.3 5.2 7.5 5.2 0.7 -0.2 2.3 1.8 3.3 15.9 10

 11 Credit market instruments 1.0 4.3 6.2 3.2 2.0 0.9 0.9 -0.4 2.3 10.9 11

 12 Corporate bonds 0.7 3.8 5.4 1.4 0.8 0.0 -0.1 0.2 -1.1 -1.2 12

 13 Depository institution loans n.e.c. 0.3 0.3 0.5 1.5 0.9 0.3 0.6 -1.2 -0.2 2.3 13

 14 Mortgages 0.1 0.3 0.3 0.3 0.3 0.6 0.5 0.6 3.6 9.8 14

 15 Multifamily residential 0.0 0.1 0.1 0.1 0.1 0.2 0.2 0.2 1.2 3.2 15

 16 Commercial 0.0 0.2 0.2 0.2 0.2 0.4 0.3 0.4 2.4 6.6 16

 17 Miscellaneous liabilities 0.3 0.8 1.3 2.1 -1.4 -1.1 1.4 2.2 1.0 5.0 17

F.127.m Mortgage Real Estate Investment Trusts (REITs)

Billions of dollars

 1 Net acquisition of financial assets 0.2 0.6 0.9 0.6 0.1 -0.0 0.3 0.2 0.4 2.0 1

 2 Checkable deposits and currency 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 1.2 5.0 7.0 3.4 0.7 -1.4 -0.2 1.0 0.6 -2.1 3

 4 Agency- and GSE-backed securities 0.2 5.0 6.5 2.5 0.9 -1.1 0.1 -0.7 -0.3 -6.4 4

 5 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.9 0.1 0.8 5

 6 Mortgages 1.1 -0.0 0.5 0.8 -0.2 -0.3 -0.3 0.9 0.8 3.5 6

 7 Home 0.1 -0.0 0.0 0.1 -0.0 -0.0 -0.1 0.8 1.1 2.8 7

 8 Multifamily residential 0.3 0.0 0.2 0.3 -0.1 -0.1 -0.1 0.0 -0.2 0.2 8

 9 Commercial 0.7 0.0 0.3 0.4 -0.1 -0.2 -0.2 0.1 -0.1 0.6 9

 10 Miscellaneous assets -1.1 -4.3 -6.0 -2.7 -0.6 1.4 0.5 -0.8 -0.2 4.0 10

 11 Net increase in liabilities 0.2 0.6 0.9 0.6 0.1 -0.0 0.3 0.2 0.4 2.0 11

 12 Security RPs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.9 2.1 4.7 12

 13 Credit market instruments 0.3 1.4 1.8 0.4 0.1 -0.2 -0.0 -0.0 -0.6 -0.7 13

 14 Open market paper 0.1 0.3 0.4 -0.1 -0.2 -0.2 -0.0 -0.0 -0.3 -0.6 14

 15 Corporate bonds 0.2 1.0 1.4 0.4 0.2 0.0 -0.0 0.1 -0.3 -0.3 15

 16 Depository institution loans n.e.c. 0.0 0.0 0.0 0.1 0.1 0.0 0.0 -0.1 -0.0 0.2 16

 17 Miscellaneous liabilities -0.2 -0.7 -0.9 0.3 -0.0 0.1 0.3 -1.6 -1.1 -2.1 17

 Memo:

 18 Securitized assets included above 0.1 4.5 6.3 1.6 0.7 -0.0 -0.3 -0.7 -1.7 -3.6 18

 19 Agency- and GSE-backed securities 0.1 4.5 6.3 1.6 0.7 -0.0 -0.3 -1.3 -2.3 -5.0 19

 20 Home mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.6 0.6 1.4 20

 21 Multifamily residential mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 Commercial mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22
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120 Historical Annuals, 1985-1994,

L.127.e Equity Real Estate Investment Trusts (REITs)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets 9.5 13.4 20.9 25.3 27.5 25.3 25.5 24.4 25.9 25.0 1

 2 Checkable deposits and currency 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 3.1 3.1 3.6 4.5 4.3 4.0 3.6 3.9 3.7 5.0 3

 4 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.2 0.3 4

 5 Mortgages 3.1 3.1 3.6 4.5 4.3 4.0 3.6 3.8 3.5 4.7 5

 6 Home 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 6

 7 Multifamily residential 0.6 0.6 0.8 0.9 0.9 0.8 0.8 0.8 0.7 0.8 7

 8 Commercial 2.4 2.4 2.9 3.6 3.4 3.1 2.8 3.0 2.8 3.9 8

 9 Miscellaneous assets 6.4 10.3 17.3 20.8 23.1 21.3 21.9 20.5 22.2 19.9 9

 10 Total liabilities 7.4 12.5 20.0 25.2 25.9 25.7 28.0 29.8 33.1 49.0 10

 11 Credit market instruments 6.1 10.4 16.6 19.7 21.8 22.7 23.6 23.2 25.5 36.4 11

 12 Corporate bonds 2.9 6.7 12.1 13.5 14.2 14.3 14.2 14.4 13.3 12.1 12

 13 Depository institution loans n.e.c. 0.6 0.9 1.4 2.9 3.8 4.1 4.7 3.5 3.3 5.6 13

 14 Mortgages 2.5 2.8 3.1 3.4 3.7 4.3 4.8 5.4 8.9 18.7 14

 15 Multifamily residential 0.8 0.9 1.0 1.1 1.2 1.4 1.6 1.8 3.0 6.2 15

 16 Commercial 1.7 1.9 2.1 2.3 2.5 2.9 3.2 3.6 6.0 12.5 16

 17 Miscellaneous liabilities 1.3 2.1 3.4 5.5 4.1 3.0 4.4 6.6 7.6 12.6 17

L.127.m Mortgage Real Estate Investment Trusts (REITs)

Billions of dollars

 1 Total financial assets 0.9 1.6 2.5 3.1 3.2 3.2 3.5 3.7 4.1 6.1 1

 2 Checkable deposits and currency 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 5.6 10.6 17.5 20.9 21.6 20.2 20.0 21.0 21.7 19.6 3

 4 Agency- and GSE-backed securities 2.8 7.7 14.2 16.7 17.6 16.5 16.6 15.9 15.6 9.2 4

 5 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.9 1.0 1.8 5

 6 Mortgages 2.9 2.9 3.4 4.2 4.0 3.7 3.4 4.3 5.1 8.6 6

 7 Home 0.3 0.3 0.3 0.4 0.4 0.4 0.4 1.1 2.2 5.0 7

 8 Multifamily residential 1.1 1.1 1.3 1.7 1.6 1.5 1.4 1.4 1.2 1.4 8

 9 Commercial 1.4 1.4 1.7 2.1 2.0 1.8 1.7 1.8 1.7 2.3 9

 10 Miscellaneous assets -4.7 -9.0 -15.1 -17.8 -18.4 -17.0 -16.5 -17.3 -17.6 -13.6 10

 11 Total liabilities 0.9 1.6 2.5 3.1 3.2 3.2 3.5 3.7 4.1 6.1 11

 12 Security RPs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2.9 5.0 9.7 12

 13 Credit market instruments 1.5 2.9 4.7 5.1 5.2 5.0 5.0 5.0 4.3 3.6 13

 14 Open market paper 0.7 1.1 1.4 1.3 1.1 0.9 0.9 0.9 0.6 0.0 14

 15 Corporate bonds 0.8 1.8 3.2 3.6 3.8 3.8 3.8 3.8 3.5 3.2 15

 16 Depository institution loans n.e.c. 0.0 0.1 0.1 0.2 0.3 0.3 0.4 0.3 0.2 0.4 16

 17 Miscellaneous liabilities -0.6 -1.3 -2.2 -2.0 -2.0 -1.8 -1.6 -4.2 -5.3 -7.3 17

 Memo:

 18 Securitized assets included above 2.2 6.7 13.0 14.6 15.3 15.3 15.0 14.3 12.5 9.0 18

 19 Agency- and GSE-backed securities 2.2 6.7 13.0 14.6 15.3 15.3 15.0 13.7 11.4 6.4 19

 20 Home mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.6 1.1 2.5 20

 21 Multifamily residential mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 Commercial mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22
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Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Gross value added 4295.5 4513.4 4829.7 5253.1 5593.5 5888.2 6085.7 6428.4 6726.4 7171.9 1

 (income approach)

 2 Less: Consumption of fixed capital 636.7 682.2 728.0 782.4 836.1 886.8 931.1 959.7 1003.6 1055.6 2

 3 Equals: Net value added 3658.8 3831.2 4101.7 4470.7 4757.4 5001.4 5154.5 5468.7 5722.8 6116.4 3

 4 Compensation of employees (paid) 2389.2 2545.6 2725.7 2950.9 3143.9 3345.0 3454.7 3674.1 3824.0 4014.1 4

 5 Wages and salaries 1982.8 2104.1 2257.6 2440.6 2584.3 2743.5 2817.2 2968.5 3082.7 3240.6 5

 6 Employers’ social contributions 406.4 441.5 468.0 510.3 559.5 601.5 637.5 705.6 741.3 773.5 6

 7 Taxes on production and imports less subsidies 286.8 298.5 317.3 345.0 371.4 398.0 429.6 453.3 466.4 512.7 7

 8 Operating surplus, net 982.9 987.1 1058.8 1174.8 1242.1 1258.4 1270.2 1341.3 1432.4 1589.5 8

 9 Plus: Income receipts from the rest of the world 112.7 111.3 123.3 152.1 177.7 188.8 168.4 152.1 155.6 184.5 9

10 Less: Income payments to the rest of the world 87.3 94.4 105.8 129.5 152.9 154.2 136.8 121.0 123.6 160.7 10

11 Equals: Net national income/Balance of primary incomes, net 3684.2 3848.2 4119.2 4493.4 4782.2 5036.1 5186.1 5499.7 5754.8 6140.2 11

12 Operating surplus, net 982.9 987.1 1058.8 1174.8 1242.1 1258.4 1270.2 1341.3 1432.4 1589.5 12

13 Compensation of employees (received) 2389.0 2543.8 2724.3 2950.0 3142.6 3342.7 3452.0 3671.1 3820.7 4010.1 13

14 Wages and salaries 1982.6 2102.3 2256.3 2439.8 2583.1 2741.2 2814.5 2965.5 3079.3 3236.6 14

15 Employers’ social contributions 406.4 441.5 468.0 510.3 559.5 601.5 637.5 705.6 741.3 773.5 15

16 Taxes on production and imports, receivable 308.1 323.4 347.5 374.5 398.9 425.0 457.1 483.4 503.1 545.2 16

17 Subsidies paid -21.4 -24.9 -30.3 -29.5 -27.4 -27.0 -27.5 -30.1 -36.7 -32.5 17

18 Property income (received) 1990.2 2093.3 2214.5 2456.0 2766.3 2849.7 2782.7 2729.7 2755.5 2925.0 18

19 Interest 1530.7 1612.7 1691.0 1858.1 2122.7 2169.1 2088.7 1964.7 1924.5 2023.0 19

20 Distributed income of corporations 423.8 450.2 484.0 564.2 608.8 635.7 651.7 723.2 773.2 849.0 20

21 Dividends 150.2 163.5 168.6 210.7 240.3 251.0 260.8 277.9 293.5 336.3 21

22 Withdrawals from income of quasi-corporations 273.6 286.7 315.4 353.4 368.6 384.7 390.9 445.3 479.8 512.7 22

23 Reinvested earnings on U.S. direct investment abroad 25.8 20.8 31.0 26.5 27.6 37.3 34.0 33.6 49.5 44.9 23

24 Rents on land and natural resources 9.9 9.5 8.4 7.3 7.1 7.6 8.3 8.2 8.3 8.1 24

25 Less: Uses of property income (paid) 1964.7 2074.6 2195.6 2432.5 2740.2 2812.7 2748.4 2695.7 2720.2 2897.1 25

26 Interest 1543.2 1633.4 1720.2 1891.6 2163.7 2208.1 2130.8 2003.7 1966.1 2073.1 26

27 Distributed income of corporations 412.0 432.4 467.3 532.3 577.2 610.7 627.4 695.1 752.7 810.8 27

28 Dividends 138.4 145.6 151.9 178.9 208.7 226.0 236.5 249.8 272.9 298.1 28

29 Withdrawals from income of quasi-corporations 273.6 286.7 315.4 353.4 368.6 384.7 390.9 445.3 479.8 512.7 29

30 Reinvested earnings on foreign direct investment -0.5 -0.7 -0.3 1.4 -7.9 -13.9 -18.1 -11.4 -6.9 5.1 30

31 Rents on land and natural resources 9.9 9.5 8.4 7.3 7.1 7.6 8.3 8.2 8.3 8.1 31

32 Net national income/Balance of primary incomes, net 3684.2 3848.2 4119.2 4493.4 4782.2 5036.1 5186.1 5499.7 5754.8 6140.2 32

33 Plus: Current taxes on income, wealth, etc. (received) 515.8 545.4 618.2 644.5 710.3 736.3 722.8 756.3 814.6 880.3 33

34 Less: Current taxes on income, wealth, etc. (paid) 516.7 546.9 619.5 646.6 712.2 738.1 725.2 759.2 817.6 883.6 34

35 Plus: Social benefits (received) 685.4 732.9 772.0 839.0 906.4 984.8 1080.5 1186.6 1256.4 1323.8 35

36 Less: Social contributions (paid) 688.0 735.9 774.8 841.9 909.8 989.0 1084.7 1190.7 1260.3 1328.1 36

37 Plus: Other current transfers (received) 120.7 130.3 124.9 133.3 146.6 161.9 185.5 207.5 224.0 238.9 37

38 Less: Other current transfers (paid) 142.7 153.7 147.6 157.3 171.7 187.6 173.9 242.4 262.4 277.3 38

39 Equals: Disposable income, net 3658.5 3820.4 4092.4 4464.4 4751.8 5004.4 5191.0 5457.8 5709.4 6094.2 39

40 Less: Final consumption expenditures 3411.2 3634.8 3868.2 4166.7 4474.3 4773.6 4964.2 5264.9 5545.2 5850.6 40

41 Equals: Net saving 247.3 185.7 224.2 297.7 277.5 230.7 226.8 192.9 164.3 243.6 41

 Addendum:

42 Gross value added (line 1) 4295.5 4513.4 4829.7 5253.1 5593.5 5888.2 6085.7 6428.4 6726.4 7171.9 42

43 Plus statistical discrepancy (NIPA) 51.3 76.7 40.5 -0.5 64.2 91.3 88.4 110.9 152.3 136.8 43

44 Equals: GDP (NIPA, expenditure approach) 4346.7 4590.1 4870.2 5252.6 5657.7 5979.6 6174.0 6539.3 6878.7 7308.7 44
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S.2.a Selected Aggregates for Total Economy and Sectors 

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Gross value added 4295.5 4513.4 4829.7 5253.1 5593.5 5888.2 6085.7 6428.4 6726.4 7171.9 1

 2 Households and nonprofit institutions serving households 415.8 451.6 495.3 546.8 592.4 642.5 683.9 728.7 781.1 832.4 2

 3 Nonfinancial noncorporate business 630.4 664.6 695.8 760.4 813.4 852.2 862.7 921.5 950.4 1008.5 3

 4 Nonfinancial corporate business 2369.5 2465.3 2642.5 2874.5 3020.8 3161.2 3231.8 3377.1 3535.3 3816.5 4

 5 Financial business 257.4 269.9 292.8 312.5 349.1 354.8 370.7 410.6 436.9 454.8 5

 6 Federal government 267.2 279.5 291.9 313.3 329.7 344.6 367.4 378.8 379.4 382.9 6

 7 State and local government 355.2 382.5 411.4 445.5 488.1 532.9 569.2 611.7 643.4 676.7 7

 8 Net saving 247.3 185.7 224.2 297.7 277.5 230.7 226.8 192.9 164.3 243.6 8

 9 Households and nonprofit institutions serving households 265.1 269.4 252.1 294.7 316.5 335.4 365.9 426.0 367.6 331.4 9

10 Nonfinancial corporate business 152.0 100.8 117.5 131.0 99.8 91.9 100.9 97.4 131.6 173.8 10

11 Financial business 5.5 7.7 5.8 12.4 10.4 10.8 31.4 39.7 14.1 19.0 11

12 Federal government -195.6 -212.7 -163.2 -157.3 -156.6 -200.9 -246.2 -332.7 -311.8 -253.7 12

13 State and local government 20.3 20.4 12.1 17.0 7.4 -6.5 -25.1 -37.5 -37.2 -27.0 13

 Net capital transfers

14 Households and nonprofit institutions serving households 8.9 10.0 10.6 11.1 10.8 15.8 14.5 5.7 16.6 15.5 14

15 Nonfinancial noncorporate business 0.0 0.0 0.0 0.0 -0.4 0.0 -0.1 -1.8 -0.4 -4.1 15

16 Nonfinancial corporate business -0.0 0.0 0.0 0.0 -1.2 0.0 0.0 -7.0 -0.6 -3.3 16

17 Financial business 0.0 0.0 0.0 0.0 3.2 0.0 1.3 17.4 2.0 12.2 17

18 Federal government 13.2 13.1 11.9 12.1 11.3 16.6 15.5 11.3 11.4 10.9 18

19 State and local government -22.0 -23.0 -22.3 -23.1 -23.4 -25.0 -25.8 -26.9 -28.2 -29.9 19

20 Rest of the world -0.1 -0.1 -0.1 -0.1 -0.3 -7.4 -5.3 1.3 -0.8 -1.2 20

21 Gross fixed capital formation 1027.7 1080.7 1119.7 1176.9 1242.4 1269.3 1238.8 1292.8 1377.9 1486.9 21

22 Households and nonprofit institutions serving households 185.3 215.1 235.5 249.0 251.1 239.9 230.7 265.3 291.0 326.0 22

23 Nonfinancial noncorporate business 126.4 130.2 133.8 136.9 139.8 123.3 107.9 105.0 121.0 130.9 23

24 Nonfinancial corporate business 431.1 426.2 421.4 450.6 489.9 526.8 524.9 545.1 584.4 638.9 24

25 Financial business (nonresidential) 65.0 71.1 74.3 81.9 91.3 88.9 81.3 81.3 89.6 96.9 25

26 Federal government 132.5 141.9 152.4 148.0 151.2 158.2 156.8 156.4 150.7 145.4 26

27 State and local government 87.3 96.2 102.2 110.4 119.2 132.2 137.3 139.7 141.2 148.8 27

28 Consumption of fixed capital 636.7 682.2 728.0 782.4 836.1 886.8 931.1 959.7 1003.6 1055.6 28

29 Households and nonprofit institutions serving households 86.2 93.4 101.8 109.9 118.2 125.1 130.6 136.3 145.7 155.3 29

30 Nonfinancial noncorporate business 81.0 85.7 90.5 96.0 101.5 105.4 107.6 108.5 111.3 115.2 30

31 Nonfinancial corporate business 299.0 317.9 334.7 357.7 380.1 403.0 424.5 437.8 457.9 484.8 31

32 Financial business (nonresidential) 30.3 34.5 39.3 44.7 50.3 55.5 59.7 61.6 65.0 69.0 32

33 Federal government 93.3 100.3 107.5 116.3 124.2 131.1 137.9 141.4 145.3 148.3 33

34 State and local government 46.9 50.3 54.1 57.8 61.9 66.7 70.9 74.1 78.3 82.9 34

35 Change in inventories 21.8 6.6 27.1 18.5 27.7 14.5 -0.4 16.3 20.8 63.8 35

36 Nonfinancial noncorporate business 6.1 -0.9 -4.3 -9.5 1.4 2.8 -1.1 6.3 -4.3 13.5 36

37 Nonfinancial corporate business 15.7 7.5 31.4 27.9 26.3 11.7 0.7 10.1 25.1 50.2 37

38 Net lending (+) or net borrowing (-) (capital account) -165.7 -219.5 -194.8 -115.4 -156.9 -173.6 -85.8 -155.2 -231.7 -252.8 38

39 Households and nonprofit institutions serving households 159.6 140.6 111.0 147.9 176.7 209.2 255.6 295.6 210.1 149.8 39

40 Nonfinancial noncorporate business -51.5 -43.5 -39.1 -31.5 -39.3 -20.7 1.0 -0.9 -5.1 -25.1 40

41 Nonfinancial corporate business 3.5 -17.2 -0.2 10.9 -34.8 -43.0 1.5 -11.3 -17.7 -25.6 41

42 Financial business -29.3 -28.9 -29.2 -24.9 -33.9 -22.7 8.5 2.6 -12.5 -21.1 42

43 Federal government -246.8 -264.3 -219.5 -201.0 -194.3 -243.8 -280.8 -359.1 -328.8 -261.7 43

44 State and local government -1.3 -6.2 -17.9 -16.9 -31.4 -52.7 -71.6 -82.0 -77.8 -69.1 44

 Addendum:

45 Statistical discrepancy (NIPA) 51.3 76.7 40.5 -0.5 64.2 91.3 88.4 110.9 152.3 136.8 45

46 Rest of the world 114.5 142.8 154.2 115.9 92.7 82.3 -2.6 44.3 79.4 116.0 46

47 Net lending (+) or net borrowing (-) (financial account) -279.2 -29.9 -27.6 -111.0 -233.4 83.1 19.0 -104.2 69.5 9.0 47

48 Households and nonprofit institutions serving households 192.9 330.7 244.8 264.8 172.7 424.5 318.8 365.0 340.4 240.8 48

49 Nonfinancial noncorporate business -51.5 -43.5 -39.1 -31.5 -39.3 -20.7 1.0 -0.9 -5.1 -25.1 49

50 Nonfinancial corporate business -164.4 -57.1 -44.3 -92.9 -166.0 -59.2 15.6 -15.8 114.1 31.0 50

51 Financial business -7.3 9.1 31.2 17.3 35.2 -2.2 50.7 -6.1 47.8 29.1 51

52 Federal government -266.0 -292.0 -222.4 -242.0 -231.5 -226.5 -296.2 -393.4 -342.0 -266.0 52

53 State and local government 17.1 23.0 2.1 -26.7 -4.5 -32.6 -70.9 -53.0 -85.7 -0.8 53

 Addendum:

54 Rest of the world 99.5 116.6 167.8 138.3 47.2 50.9 38.7 95.4 78.5 123.1 54

 Total other volume changes

55 Households and nonprofit institutions serving households 113.4 285.9 258.7 230.3 93.9 291.8 99.3 130.7 225.9 235.1 55

56 Nonfinancial noncorporate business -17.6 16.3 -18.6 -32.4 -33.0 29.7 29.7 28.7 46.7 40.9 56

57 Nonfinancial corporate business -21.1 71.7 29.4 110.2 70.7 14.6 8.4 -106.9 104.7 111.6 57

58 Financial business -74.0 39.4 76.9 54.5 -5.5 14.1 -159.1 49.8 -25.6 -41.4 58

59 Federal government -6.4 -21.9 -12.9 -39.1 -22.9 6.2 -1.5 -35.8 8.2 5.9 59

60 State and local government 20.8 32.5 9.2 16.5 2.2 1.1 68.7 -65.4 41.8 53.3 60

61 Rest of the world -14.4 -24.1 35.8 -21.6 -47.2 -17.4 47.7 48.3 -17.8 23.1 61

 Holding gains/losses

62 Households and nonprofit institutions serving households 1015.4 1003.6 677.2 1112.4 1356.6 -57.0 994.8 587.6 854.3 339.4 62

63 Nonfinancial noncorporate business 86.1 106.4 137.3 179.4 157.3 16.2 -75.8 -55.1 92.6 167.3 63

64 Nonfinancial corporate business -367.4 -334.5 55.3 -173.2 -550.3 140.8 -1282.4 -630.0 -518.4 187.6 64

65 Financial business 40.3 -36.4 57.2 -26.1 0.8 86.8 28.1 -158.2 9.4 61.1 65

66 Federal government 13.0 20.9 18.6 51.2 46.8 39.0 40.6 42.3 46.0 70.9 66

67 State and local government 44.5 82.1 73.5 52.3 69.4 60.4 16.4 53.7 79.5 116.8 67

68 Rest of the world 9.6 -12.6 -121.7 -18.0 31.0 -83.5 6.4 21.3 -172.8 -127.6 68
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1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 Change in net worth

69 Households and nonprofit institutions serving households 1385.0 1548.8 1177.4 1626.3 1756.3 554.5 1445.6 1138.6 1431.3 890.5 69

70 Nonfinancial noncorporate business 68.5 122.7 118.8 147.0 124.7 45.9 -45.9 -24.6 139.6 212.3 70

71 Nonfinancial corporate business -236.4 -162.0 202.2 68.0 -378.7 247.4 -1173.1 -632.5 -281.6 476.4 71

72 Financial business -28.1 10.8 139.9 40.8 2.4 111.6 -100.9 -86.2 -4.2 26.5 72

73 Federal government -202.1 -226.8 -169.3 -157.4 -144.1 -172.3 -222.6 -337.5 -269.0 -187.9 73

74 State and local government 107.6 158.1 117.0 108.8 102.4 80.0 85.8 -22.3 112.3 173.1 74

75 Rest of the world 109.6 106.1 68.4 76.3 76.5 -18.6 51.5 113.9 -111.2 11.6 75
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124 Historical Annuals, 1985-1994,

S.3.a Households and Nonprofit Institutions Serving Households

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 Current account

 1 Gross value added 415.8 451.6 495.3 546.8 592.4 642.5 683.9 728.7 781.1 832.4 1

 2 Less: Consumption of fixed capital 86.2 93.4 101.8 109.9 118.2 125.1 130.6 136.3 145.7 155.3 2

 3 Equals: Net value added 329.6 358.2 393.5 436.9 474.2 517.3 553.4 592.4 635.3 677.2 3

 4 Compensation paid by households and NPISHs 139.5 152.1 171.0 193.1 211.7 233.7 252.4 273.0 291.4 307.6 4

 5 Wages and salaries 121.8 132.6 149.1 169.4 184.7 203.1 218.3 234.8 250.3 264.3 5

 6 Employers’ social contributions 17.7 19.5 21.9 23.7 27.0 30.6 34.1 38.2 41.1 43.3 6

 7 Taxes on production and imports less subsidies 46.7 49.5 54.1 57.7 62.5 66.5 71.5 73.9 73.8 77.2 7

 8 Operating surplus, net 143.4 156.5 168.4 186.1 199.9 217.2 229.5 245.5 270.2 292.4 8

 9 Net national income/Balance of primary incomes, net 3280.1 3479.5 3713.5 4037.9 4345.2 4598.8 4713.1 5000.5 5219.0 5496.3 9

10 Operating surplus, net 143.4 156.5 168.4 186.1 199.9 217.2 229.5 245.5 270.2 292.4 10

11 Compensation of employees (received) 2389.0 2543.8 2724.3 2950.0 3142.6 3342.7 3452.0 3671.1 3820.7 4010.1 11

12 Wages and salaries 1982.6 2102.3 2256.3 2439.8 2583.1 2741.2 2814.5 2965.5 3079.3 3236.6 12

13 Employers’ social contributions 406.4 441.5 468.0 510.3 559.5 601.5 637.5 705.6 741.3 773.5 13

14 Property income (received) 986.9 1042.6 1095.8 1193.4 1321.2 1376.6 1377.1 1428.2 1469.3 1543.0 14

15 Interest 615.9 649.8 668.3 710.2 794.8 823.1 806.0 793.9 784.8 795.1 15

16 Distributed income of corporations 371.0 392.7 427.5 483.2 526.4 553.5 571.1 634.4 684.5 747.9 16

17 Dividends 97.4 106.0 112.2 129.7 157.8 168.8 180.2 189.1 204.7 235.2 17

18 Withdrawals from income of quasi-corporations (1) 273.6 286.7 315.4 353.4 368.6 384.7 390.9 445.3 479.8 512.7 18

19 Less: Uses of property income (interest paid) 239.2 263.4 275.0 291.6 318.5 337.6 345.5 344.5 341.1 349.2 19

20 Net national income/Balance of primary incomes, net 3280.1 3479.5 3713.5 4037.9 4345.2 4598.8 4713.1 5000.5 5219.0 5496.3 20

21 Less: Current taxes on income, wealth, etc. (paid) 417.3 437.2 489.1 504.9 566.1 592.7 586.6 610.5 646.5 690.5 21

22 Plus: Social benefits (received) 402.6 428.0 447.4 475.9 519.4 572.7 648.2 729.5 776.7 813.1 22

23 Less: Social contributions (paid) 281.4 303.4 323.1 361.5 385.2 410.1 430.2 455.0 477.4 508.2 23

24 Plus: Other current transfers (received) 22.3 22.9 20.2 20.6 23.2 22.2 17.6 16.3 14.1 13.3 24

25 Less: Other current transfers (paid) 18.5 22.1 24.8 26.3 27.1 29.8 36.1 39.1 47.2 51.6 25

26 Equals: Disposable income, net 2987.8 3167.8 3344.1 3641.6 3909.3 4161.1 4326.0 4641.7 4838.6 5072.4 26

27 Less: Final consumption expenditures 2722.7 2898.4 3092.1 3346.9 3592.8 3825.6 3960.2 4215.7 4471.0 4741.0 27

28 Equals: Net saving 265.1 269.4 252.1 294.7 316.5 335.4 365.9 426.0 367.6 331.4 28

 Capital account

29 Net saving less capital transfers 256.2 259.3 241.5 283.6 305.7 319.7 351.4 420.3 351.1 315.9 29

30 Net saving 265.1 269.4 252.1 294.7 316.5 335.4 365.9 426.0 367.6 331.4 30

31 Less: Capital transfers paid (net) 8.9 10.0 10.6 11.1 10.8 15.8 14.5 5.7 16.6 15.5 31

32 Capital formation, net 96.6 118.8 130.5 135.7 129.0 110.5 95.8 124.8 141.0 166.1 32

33 Gross fixed capital formation, excluding consumer durables 185.3 215.1 235.5 249.0 251.1 239.9 230.7 265.3 291.0 326.0 33

34 Residential 157.1 184.4 200.2 210.8 209.1 194.7 183.4 215.9 242.9 277.0 34

35 Nonresidential (nonprofit organizations) 28.2 30.6 35.3 38.2 41.9 45.2 47.3 49.4 48.1 49.0 35

36 Less: Consumption of fixed capital 86.2 93.4 101.8 109.9 118.2 125.1 130.6 136.3 145.7 155.3 36

37 Acquisition of nonproduced nonfinancial assets -2.5 -2.9 -3.2 -3.4 -3.8 -4.3 -4.3 -4.3 -4.3 -4.5 37

38 Net lending (+) or borrowing (-), capital account (lines 29-32) 159.6 140.6 111.0 147.9 176.7 209.2 255.6 295.6 210.1 149.8 38

 Financial account

39 Net lending (+) or borrowing (-), capital account (line 38) 159.6 140.6 111.0 147.9 176.7 209.2 255.6 295.6 210.1 149.8 39

40 Net acquisition of financial assets 528.8 596.5 498.7 539.7 465.5 663.4 527.1 572.5 609.0 569.7 40

41 Currency and deposits 156.3 222.7 121.2 159.5 76.6 35.2 -16.1 7.9 -64.8 -65.0 41

42 Currency and transferable deposits 17.8 117.1 -0.7 -0.3 1.7 -11.4 54.2 111.4 51.0 -31.1 42

43 Time and savings deposits 137.7 104.8 122.1 158.9 74.2 45.2 -71.3 -104.7 -114.7 -36.9 43

44 Foreign deposits 0.8 0.8 -0.1 0.9 0.8 1.4 1.0 1.2 -1.1 3.1 44

45 Postal savings system deposits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 45

46 Debt securities 145.0 46.0 177.4 181.3 90.6 219.6 79.8 48.6 89.3 332.6 46

47 Open market paper -9.2 -0.3 -0.8 38.2 -5.7 5.8 -35.2 -5.8 12.4 4.7 47

48 U.S. savings bonds 5.3 13.6 7.8 8.5 8.2 8.5 11.9 19.1 14.7 8.0 48

49 Treasury securities 6.4 -15.9 25.7 70.1 33.7 88.3 13.2 64.2 34.8 161.8 49

50 Agency- and GSE-backed securities (2) -7.7 1.7 7.1 19.6 21.2 35.3 6.4 1.7 -56.8 110.3 50

51 Municipal securities 103.6 15.2 105.6 56.8 27.9 34.7 54.7 -28.3 -29.8 -46.5 51

52 Corporate and foreign bonds 46.5 31.9 32.0 -11.8 5.3 47.1 28.8 -2.2 114.1 94.2 52

53 Loans 17.5 5.4 8.5 4.1 21.2 19.4 26.4 -16.7 18.6 -1.8 53

54 Short term 13.5 9.0 -5.8 1.8 12.3 9.2 24.6 -10.8 26.0 6.7 54

55 Long term (mortgages) 4.0 -3.6 14.4 2.3 8.9 10.2 1.8 -5.9 -7.4 -8.5 55
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56 Equity and investment fund shares -63.9 53.2 -88.9 -136.7 -36.9 42.6 97.7 151.5 156.2 -85.5 56

57 Corporate equities -130.1 -122.6 -143.8 -122.3 -110.1 -50.8 -53.9 27.2 -118.7 -145.3 57

58 Mutual fund shares 79.7 139.4 59.0 -1.7 27.3 31.5 102.7 133.3 227.5 3.2 58

59 Money market fund shares 3.3 41.9 20.8 17.0 78.1 38.3 18.3 -42.2 -2.1 9.6 59

60 Equity in noncorporate business -16.9 -5.6 -25.0 -29.8 -32.3 23.5 30.7 33.2 49.4 47.0 60

61 Equity investment under Public-Private Inv. Program (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 61

62 Insurance, pension and standardized guarantee schemes 273.9 269.2 280.4 331.6 314.0 346.6 339.3 381.3 409.6 389.3 62

63 Insurance receivables due from property-casualty insurance companies 27.2 16.7 23.0 14.7 11.8 14.4 4.8 9.8 5.7 6.6 63

64 Life insurance reserves 11.5 18.3 26.9 26.1 29.6 26.5 26.8 29.1 37.1 35.5 64

65 Pension entitlements (4) 231.0 230.1 225.1 284.5 267.3 300.2 301.8 333.8 359.2 339.1 65

66 Non-life insurance reserves at life insurance companies 4.1 4.1 5.3 6.3 5.3 5.6 5.9 8.5 7.6 8.1 66

67 Retiree Health Care Funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 67

68 Net incurrence of liabilities 335.9 265.8 253.9 275.0 292.8 238.9 208.3 207.5 268.6 328.9 68

69 Debt securities (municipals) 30.2 -3.0 -0.3 1.5 3.2 3.0 3.8 2.4 1.1 3.2 69

70 Loans 302.5 267.8 248.3 270.6 272.7 226.5 195.8 199.2 261.0 320.0 70

71 Short term 117.8 64.3 20.4 50.5 40.6 19.2 12.6 19.6 94.0 154.3 71

72 Consumer credit 84.0 55.8 32.3 46.6 47.0 15.1 -8.8 9.2 61.4 135.0 72

73 Depository institution loans n.e.c. 8.0 -2.5 1.2 -1.6 -9.1 0.4 -2.3 5.8 8.7 9.2 73

74 Other loans and advances 6.9 4.3 3.3 3.8 3.6 7.3 7.4 6.2 1.3 11.1 74

75 Security credit 18.9 6.7 -16.3 1.7 -1.0 -3.7 16.3 -1.6 22.6 -1.1 75

76 Long term (mortgages) 184.7 203.5 227.9 220.1 232.1 207.4 183.2 179.6 167.0 165.7 76

77 Insurance, pension and standardized guarantee schemes 0.1 -1.3 1.2 0.4 0.8 0.1 -0.7 0.0 0.5 0.5 77

78 Other accounts payable (trade debt) 3.1 2.3 4.7 2.4 16.2 9.3 9.4 5.9 6.0 5.2 78

 Addendum:

79 Net lending (+) or borrowing (-), financial account (lines 40-68) 192.9 330.7 244.8 264.8 172.7 424.5 318.8 365.0 340.4 240.8 79

 Other changes in volume account

80 Total other volume changes 113.4 285.9 258.7 230.3 93.9 291.8 99.3 130.7 225.9 235.1 80

81 Net investment in consumer durable goods 93.3 108.7 100.9 104.1 96.3 77.9 39.4 56.4 73.8 93.7 81

82 Disaster losses 1.2 0.0 0.0 0.0 3.3 0.0 1.2 9.8 1.6 4.8 82

83 Other volume changes -14.4 -12.9 24.0 9.3 -1.6 -1.4 -4.4 -5.0 20.2 45.7 83

84 Less: Statistical discrepancy (lines 38-[40-68]) (5) -33.3 -190.1 -133.8 -116.9 4.0 -215.2 -63.2 -69.4 -130.3 -91.0 84

 Revaluation account

85 Nonfinancial assets 529.1 408.0 389.4 486.1 480.1 96.6 78.1 154.2 158.0 194.7 85

86 Real estate 513.7 369.2 357.5 440.1 448.8 58.4 38.1 133.1 122.1 164.7 86

87 Consumer durable goods 14.2 36.6 29.5 43.6 29.0 35.5 38.9 19.6 35.0 28.3 87

88 Equipment 0.7 1.8 1.5 1.5 1.4 1.8 0.4 0.8 0.3 0.4 88

89 Intellectual property products 0.5 0.4 1.0 1.0 0.9 0.8 0.7 0.7 0.5 1.3 89

90 Financial assets 486.3 595.5 287.8 626.3 876.6 -153.6 916.7 433.4 696.3 144.7 90

91 Corporate equities 350.9 387.1 112.3 416.8 500.4 -135.3 851.8 307.8 461.5 2.5 91

92 Mutual fund shares 16.6 25.6 -13.2 16.3 46.6 -33.1 30.9 21.1 71.1 -4.6 92

93 Equity in noncorporate business 86.2 130.0 143.5 177.1 156.0 21.6 -75.8 -57.4 91.4 164.1 93

94 Equity investment under Public-Private Inv. Program 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 94

95 Insurance, pension and standardized guarantee schemes 32.7 52.9 45.2 16.1 173.5 -6.8 109.9 161.9 72.3 -17.3 95

96 Changes in net worth due to nominal holding gains/losses 1015.4 1003.6 677.2 1112.4 1356.6 -57.0 994.8 587.6 854.3 339.4 96

 Changes in balance sheet account

97 Change in net worth (lines 32+38+80+96) 1385.0 1548.8 1177.4 1626.3 1756.3 554.5 1445.6 1138.6 1431.3 890.5 97

 Balance sheet account (end of period)

98 Total assets 17542.6 19355.7 20741.6 22667.4 24709.1 25531.6 27189.1 28535.2 30237.4 31456.1 98

99 Nonfinancial assets 6789.0 7426.1 8047.5 8769.0 9469.9 9750.7 9962.1 10286.5 10655.1 11101.5 99

100 Real estate 5339.9 5826.2 6310.4 6876.4 7443.2 7601.3 7726.4 7966.6 8221.7 8540.7 100

101 Consumer durable goods 1377.0 1522.3 1652.7 1800.3 1925.7 2039.1 2117.4 2193.4 2302.2 2424.1 101

102 Equipment 50.7 54.5 58.9 63.6 68.9 74.6 79.1 83.2 85.5 88.0 102

103 Intellectual property products 21.5 23.1 25.6 28.8 32.2 35.6 39.2 43.3 45.7 48.7 103
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1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

104 Financial assets 10753.6 11929.6 12694.1 13898.4 15239.2 15781.0 17227.0 18248.7 19582.3 20354.6 104

105 Currency and deposits 2354.5 2573.2 2688.0 2863.9 2941.0 2976.3 2960.3 2965.1 2901.5 2836.5 105

106 Currency and transferable deposits 344.8 461.9 460.8 460.5 462.2 450.8 505.0 616.4 667.5 636.3 106

107 Foreign deposits 7.8 8.8 9.8 10.7 11.9 13.4 14.6 15.6 15.8 18.8 107

108 Time and savings deposits 2001.9 2102.5 2217.4 2392.7 2466.9 2512.1 2440.8 2333.0 2218.3 2181.4 108

109 Postal savings system deposits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 109

110 Debt securities 851.9 889.0 1056.9 1260.0 1348.9 1600.3 1682.2 1749.7 1866.2 2257.0 110

111 Open market paper 56.5 56.1 55.3 93.6 87.9 93.7 58.5 52.7 65.0 69.7 111

112 U.S. savings bonds 79.8 93.3 101.1 109.6 117.7 126.2 138.1 157.3 171.9 179.9 112

113 Treasury securities 202.5 177.6 207.1 283.9 277.2 377.8 397.4 470.1 501.3 691.1 113

114 Agency- and GSE-backed securities (2) 23.4 23.3 32.1 51.8 74.8 117.3 115.5 114.4 58.3 187.4 114

115 Municipal securities 395.1 410.9 516.6 586.0 613.3 647.7 701.8 672.2 640.8 594.1 115

116 Corporate and foreign bonds 94.7 127.8 144.6 135.1 178.1 237.6 270.9 283.2 428.8 534.8 116

117 Loans 150.5 155.9 158.6 162.7 183.9 203.3 229.7 213.0 231.6 229.5 117

118 Short term 35.1 44.0 39.1 40.9 53.2 62.4 87.0 76.2 102.3 109.0 118

119 Long term (mortgages) 115.5 111.9 119.5 121.8 130.7 140.9 142.7 136.8 129.4 120.5 119

120 Equity and investment fund shares 4138.5 4731.2 4884.9 5358.4 6024.5 5920.4 6824.8 7247.8 8027.9 8104.5 120

121 Corporate equities 1229.5 1494.0 1462.6 1757.1 2147.5 1961.4 2759.2 3094.2 3437.0 3294.2 121

122 Mutual fund shares 213.8 378.7 424.5 439.1 513.0 511.5 645.0 799.4 1098.0 1096.6 122

123 Money market fund shares 196.3 235.1 256.0 273.0 351.1 389.4 407.7 365.5 363.5 373.1 123

124 Equity in noncorporate business 2498.9 2623.3 2741.8 2889.1 3012.9 3058.1 3012.9 2988.7 3129.4 3340.6 124

125 Equity investment under Public-Private Inv. Program (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 125

126 Insurance, pension and standardized guarantee schemes 3258.1 3580.2 3905.7 4253.4 4740.9 5080.6 5529.9 6073.1 6555.0 6927.0 126

127 Insurance receivables due from property-casualty insurance companies 89.8 106.4 129.4 144.1 156.0 170.3 175.2 185.0 190.7 197.3 127

128 Life insurance reserves 264.3 282.6 309.5 335.7 365.3 391.7 418.6 447.7 484.8 520.3 128

129 Pension entitlements (4) 2847.1 3130.2 3400.4 3701.0 4141.8 4435.1 4846.8 5342.6 5774.1 6095.9 129

130 Non-life insurance reserves at life insurance companies 56.9 61.0 66.3 72.6 77.9 83.5 89.4 97.8 105.4 113.5 130

131 Retiree Health Care Funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 131

132 Total liabilities and net worth 17542.6 19355.7 20741.6 22667.4 24709.1 25531.6 27189.1 28535.2 30237.4 31456.1 132

133 Liabilities 2367.9 2632.1 2840.7 3140.2 3425.5 3693.6 3905.5 4113.0 4383.9 4712.1 133

134 Debt securities (municipals) 81.3 78.4 78.1 79.6 82.7 85.7 89.5 91.9 93.0 96.1 134

135 Loans 2247.0 2513.3 2716.2 3003.8 3269.0 3524.7 3724.0 3923.2 4186.6 4505.9 135

136 Short term 758.9 821.7 838.8 886.9 939.6 958.7 971.3 990.9 1084.9 1238.5 136

137 Consumer credit 610.6 666.4 698.6 745.2 809.3 824.4 815.6 824.8 886.2 1021.2 137

138 Depository institution loans n.e.c. 25.4 22.9 24.1 22.5 13.4 13.9 11.6 17.4 26.0 34.6 138

139 Other loans and advances 72.2 75.0 74.3 75.7 74.3 81.7 89.1 95.3 96.6 107.7 139

140 Security credit 50.7 57.4 41.8 43.5 42.5 38.8 55.1 53.5 76.1 75.1 140

141 Long term (mortgages) 1488.1 1691.6 1877.4 2116.9 2329.4 2566.0 2752.7 2932.4 3101.7 3267.5 141

142 Insurance, pension and standardized guarantee schemes 15.2 13.9 15.1 15.5 16.4 16.5 15.7 15.8 16.3 16.8 142

143 Other accounts payable (trade debt) 24.3 26.6 31.3 41.3 57.4 66.8 76.2 82.1 88.1 93.2 143

144 Net worth 15174.7 16723.5 17900.9 19527.3 21283.6 21838.0 23283.6 24422.2 25853.5 26744.0 144

(1) Consists of rental income of tenant-occupied housing and proprietors’ income. Quasi-corporations are unincorporated enterprises that function as if they were corporations;

they primarily cover their operating costs through sales, and they keep a complete set of financial records.

(2) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in the fourth quarter of 2004.

(3) Funds invested by financial institutions such as domestic hedge funds through the Public-Private Investment Program (PPIP).

(4) Includes variable annuities, including those in IRAs, at life insurance companies.

(5) The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy

reflects differences in source data, timing of recorded flows, and other statistical differences between the capital and financial accounts.

NPISHs Nonprofit institutions serving households

n.e.c. Not elsewhere classified
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1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 Current account

 1 Gross value added 630.4 664.6 695.8 760.4 813.4 852.2 862.7 921.5 950.4 1008.5 1

 2 Less: Consumption of fixed capital 81.0 85.7 90.5 96.0 101.5 105.4 107.6 108.5 111.3 115.2 2

 3 Equals: Net value added 549.4 578.8 605.3 664.4 711.9 746.8 755.0 813.0 839.1 893.3 3

 4 Compensation of employees (paid) 143.2 150.3 155.3 163.4 175.9 187.9 192.1 201.2 213.2 225.5 4

 5 Wages and salaries 127.1 132.9 138.0 142.2 151.6 161.6 164.0 171.4 181.2 193.1 5

 6 Employers’ social contributions 16.1 17.5 17.3 21.3 24.3 26.4 28.1 29.8 32.0 32.4 6

 7 Taxes on production and imports less subsidies 30.0 28.3 28.3 33.3 39.3 44.6 47.7 51.7 46.9 57.3 7

 8 Operating surplus, net 376.2 400.2 421.7 467.7 496.7 514.3 515.3 560.2 578.9 610.5 8

 9 Net national income/Balance of primary incomes, net 3.4 5.5 6.5 5.4 5.3 5.6 5.5 6.9 5.9 6.5 9

10 Operating surplus, net 376.2 400.2 421.7 467.7 496.7 514.3 515.3 560.2 578.9 610.5 10

11 Property income (interest received) 8.1 8.6 8.4 8.4 8.8 8.0 7.3 7.6 8.7 9.6 11

12 Less: Uses of property income (paid) 380.9 403.3 423.6 470.6 500.2 516.7 517.1 560.9 581.7 613.6 12

13 Interest 116.5 126.2 124.2 136.6 150.5 152.2 146.0 131.4 121.5 119.4 13

14 Withdrawals from income of quasi-corporations (1) 264.4 277.1 299.4 334.0 349.9 364.6 371.2 429.6 460.3 494.1 14

15 Reinvested earnings on foreign direct investment -0.0 -0.0 -0.0 0.0 -0.2 -0.1 -0.1 -0.1 -0.1 0.0 15

16 Rents on land and natural resources 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

17 Net national income/Balance of primary incomes, net 3.4 5.5 6.5 5.4 5.3 5.6 5.5 6.9 5.9 6.5 17

18 Less: Other current transfers (paid) 3.4 5.5 6.5 5.4 5.3 5.6 5.5 6.9 5.9 6.5 18

19 Equals: Disposable income, net 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

20 Equals: Net saving 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 Capital account

21 Net saving less capital transfers 0.0 0.0 0.0 0.0 0.4 0.0 0.1 1.8 0.4 4.1 21

22 Net saving 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

23 Less: Capital transfers paid (net) 0.0 0.0 0.0 0.0 -0.4 0.0 -0.1 -1.8 -0.4 -4.1 23

24 Capital formation, net 51.5 43.5 39.1 31.5 39.6 20.7 -0.8 2.7 5.4 29.2 24

25 Gross fixed capital formation 126.4 130.2 133.8 136.9 139.8 123.3 107.9 105.0 121.0 130.9 25

26 Nonresidential 85.2 82.0 86.3 93.5 94.9 80.3 72.2 68.2 79.3 86.6 26

27 Residential 41.1 48.2 47.4 43.4 44.8 43.1 35.7 36.8 41.7 44.3 27

28 Less: Consumption of fixed capital 81.0 85.7 90.5 96.0 101.5 105.4 107.6 108.5 111.3 115.2 28

29 Change in private inventories 6.1 -0.9 -4.3 -9.5 1.4 2.8 -1.1 6.3 -4.3 13.5 29

30 Net lending (+) or borrowing (-), capital account (lines 21-24) -51.5 -43.5 -39.1 -31.5 -39.3 -20.7 1.0 -0.9 -5.1 -25.1 30

 Financial account

31 Net lending (+) or borrowing (-) (line 30) -51.5 -43.5 -39.1 -31.5 -39.3 -20.7 1.0 -0.9 -5.1 -25.1 31

32 Net acquisition of financial assets 33.9 26.1 -5.4 50.9 8.0 1.8 8.0 26.6 27.6 62.4 32

33 Currency and deposits 19.7 4.3 -1.1 11.1 2.6 4.9 4.3 12.3 6.6 15.9 33

34 Currency and transferable deposits 14.2 2.6 0.9 4.6 1.2 2.2 2.1 5.4 3.2 12.3 34

35 Time and savings deposits 5.5 1.7 -1.9 6.6 1.4 2.7 2.2 7.0 3.4 3.6 35

36 Debt securities 0.3 2.0 -1.0 0.5 1.6 0.6 -0.3 0.7 2.1 4.9 36

37 Treasury securities 0.3 2.0 -1.0 0.5 1.6 0.6 -0.3 0.7 0.6 4.7 37

38 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.5 0.1 38

39 Loans 4.7 0.7 -6.8 9.9 -12.7 -4.1 -5.0 -0.9 -3.3 2.0 39

40 Short term (consumer credit) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 40

41 Long term (mortgages) 4.7 0.7 -6.8 9.9 -12.7 -4.1 -5.0 -0.9 -3.3 2.0 41

42 Equity and investment fund shares -0.3 -0.5 -0.6 2.3 -0.3 0.6 0.9 2.3 1.4 4.4 42

43 Money market mutual fund shares 0.0 0.1 -0.1 2.2 0.5 0.9 0.7 2.3 1.1 4.2 43

44 Equity in government-sponsored enterprises (2) -0.3 -0.6 -0.5 0.1 -0.7 -0.2 0.2 -0.1 0.3 0.2 44

45 Insurance, pension and standardized guarantee schemes (3) 5.5 6.6 -5.1 0.4 5.6 -3.7 5.0 -0.9 2.6 2.0 45

46 Other accounts receivable 4.0 13.0 9.1 26.7 11.2 3.5 3.1 13.1 18.2 33.3 46

47 Trade receivables 4.5 8.0 1.4 12.0 6.8 2.7 -1.1 7.1 4.9 16.3 47

48 Other (miscellaneous assets) -0.5 4.9 7.6 14.6 4.4 0.8 4.2 6.0 13.2 17.0 48

49 Net incurrence of liabilities 85.4 69.6 33.6 82.4 47.3 22.5 7.1 27.5 32.7 87.5 49

50 Loans 70.4 67.1 58.0 84.1 48.4 0.3 -26.2 -26.5 -20.7 14.4 50

51 Short term 0.1 -0.2 10.5 8.7 16.9 5.0 1.1 3.6 1.5 19.0 51

52 Depository institution loans n.e.c. 2.1 0.6 8.7 9.3 12.8 4.0 0.1 2.7 4.4 15.3 52

53 Other loans and advances -2.0 -0.8 1.8 -0.6 4.2 1.1 1.0 0.8 -2.9 3.7 53

54 Long term (mortgages) 70.3 67.4 47.5 75.4 31.5 -4.7 -27.3 -30.0 -22.1 -4.6 54
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55 Equity and investment fund shares -16.3 -5.6 -23.6 -29.0 -29.2 25.0 30.2 33.2 48.5 48.2 55

56 Equity in noncorporate business -17.0 -6.7 -24.2 -29.9 -30.5 24.2 30.2 33.1 48.5 48.2 56

57 Foreign direct investment in the United States 0.6 1.1 0.6 0.8 1.4 0.7 -0.0 0.1 0.0 0.0 57

58 Other accounts payable 31.3 8.0 -0.8 27.3 28.1 -2.8 3.1 20.8 4.8 24.9 58

59 Trade payables -1.3 -2.1 5.1 7.0 2.5 -0.1 -1.0 6.3 1.5 7.4 59

60 Taxes payable 3.4 1.7 0.6 2.9 4.7 0.6 0.5 0.6 -1.7 1.4 60

61 Other (miscellaneous liabilities) 29.1 8.5 -6.4 17.4 20.9 -3.3 3.6 13.8 5.1 16.1 61

 Addendum:

62 Net lending (+) or borrowing (-), financial account (lines 32-49) -51.5 -43.5 -39.1 -31.5 -39.3 -20.7 1.0 -0.9 -5.1 -25.1 62

 Other changes in volume account

63 Total other volume changes -17.6 16.3 -18.6 -32.4 -33.0 29.7 29.7 28.7 46.7 40.9 63

64 Disaster losses 0.4 0.0 0.0 0.0 1.7 0.0 0.3 4.1 0.9 7.7 64

65 Other volume changes -18.0 16.3 -18.6 -32.4 -34.7 29.7 29.4 24.6 45.8 33.2 65

 Revaluation account

66 Nonfinancial assets 86.1 106.4 137.3 179.4 157.3 16.2 -75.8 -55.1 92.6 167.3 66

67 Real estate 88.8 106.7 121.8 151.2 141.6 2.0 -76.8 -71.2 79.5 159.9 67

68 Residential 117.6 116.6 70.4 87.5 77.3 -73.8 -1.2 -0.4 63.3 98.2 68

69 Nonresidential -28.7 -9.9 51.3 63.7 64.4 75.9 -75.7 -70.7 16.2 61.7 69

70 Equipment 4.3 10.1 4.6 11.8 12.0 10.5 10.7 13.4 9.6 12.9 70

71 Residential -0.2 0.3 0.2 0.4 0.2 0.1 -0.3 0.0 0.5 0.5 71

72 Nonresidential 4.4 9.8 4.5 11.5 11.8 10.4 11.0 13.4 9.1 12.5 72

73 Intellectual property products 0.2 0.1 1.7 0.8 1.0 1.2 0.9 0.6 0.7 1.1 73

74 Inventories -7.2 -10.5 9.2 15.5 2.6 2.5 -10.6 2.1 2.7 -6.7 74

75 Changes in net worth due to nominal holding gains/losses 86.1 106.4 137.3 179.4 157.3 16.2 -75.8 -55.1 92.6 167.3 75

 Changes in balance sheet account

76 Change in net worth (lines 24+30+63+75) 68.5 122.7 118.8 147.0 124.7 45.9 -45.9 -24.6 139.6 212.3 76

 Balance sheet account (end of period)

77 Total assets 3647.0 3832.1 4003.1 4264.8 4468.1 4506.7 4437.8 4408.0 4532.6 4783.9 77

78 Nonfinancial assets 3346.0 3495.8 3672.2 3883.0 4078.3 4115.2 4038.3 3981.8 4078.8 4267.6 78

79 Real estate 2905.4 3053.6 3211.7 3397.1 3570.5 3590.3 3521.1 3453.0 3542.4 3709.0 79

80 Residential (4) 1679.6 1816.7 1904.9 2004.4 2092.9 2028.8 2029.1 2028.1 2096.8 2195.8 80

81 Nonresidential 1225.9 1236.9 1306.9 1392.8 1477.6 1561.5 1491.9 1424.8 1445.6 1513.2 81

82 Equipment 283.6 294.4 303.5 319.5 333.5 341.9 342.6 342.6 348.6 360.7 82

83 Residential 20.7 22.3 23.9 25.6 26.9 27.9 28.2 28.9 30.1 31.2 83

84 Nonresidential 262.9 272.0 279.6 294.0 306.6 314.0 314.3 313.7 318.6 329.5 84

85 Intellectual property products 21.0 23.4 27.5 30.9 34.7 38.2 41.5 44.8 47.9 51.1 85

86 Inventories 135.9 124.5 129.5 135.5 139.5 144.8 133.1 141.5 139.9 146.7 86

87 Financial assets 301.1 336.3 330.9 381.8 389.8 391.5 399.5 426.2 453.8 516.2 87

88 Currency and deposits 112.4 116.7 115.6 126.7 129.3 134.2 138.6 150.9 157.5 173.4 88

89 Currency and transferable deposits 71.8 74.3 75.2 79.8 81.0 83.2 85.3 90.7 93.9 106.3 89

90 Time and savings deposits 40.6 42.3 40.4 47.0 48.4 51.0 53.2 60.2 63.6 67.2 90

91 Debt securities 5.8 10.8 9.8 10.3 11.9 12.5 12.2 13.0 15.1 19.9 91

92 Treasury securities 5.8 10.8 9.8 10.3 11.9 12.5 12.2 13.0 13.6 18.3 92

93 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.5 1.6 93

94 Loans 44.0 44.7 37.9 47.8 35.1 31.1 26.0 25.2 21.9 23.8 94

95 Short term (consumer credit) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 95

96 Long term (mortgages) 44.0 44.7 37.9 47.8 35.1 31.1 26.0 25.2 21.9 23.8 96

97 Equity and investment fund shares 4.5 7.2 6.6 8.8 8.6 9.1 10.0 12.3 13.7 18.1 97

98 Money market mutual fund shares 0.0 3.2 3.1 5.3 5.8 6.7 7.4 9.7 10.9 15.1 98

99 Equity in government-sponsored enterprises (2) 4.5 3.9 3.5 3.5 2.8 2.4 2.6 2.5 2.8 3.0 99

100 Insurance, pension and standardized guarantee schemes (3) 56.3 62.9 57.8 58.2 63.8 60.0 65.0 64.1 66.7 68.7 100

101 Other accounts receivable 78.2 94.1 103.2 129.9 141.1 144.6 147.7 160.8 178.9 212.2 101

102 Trade receivables 63.8 74.8 76.3 88.3 95.1 97.8 96.7 103.8 108.7 125.0 102

103 Other (miscellaneous assets) 14.4 19.3 27.0 41.6 46.0 46.8 51.0 57.0 70.2 87.2 103
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1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

104 Total liabilities and net worth 3647.0 3832.1 4003.1 4264.8 4468.1 4506.7 4437.8 4408.0 4532.6 4783.9 104

105 Liabilities 1152.0 1214.3 1266.5 1381.3 1459.9 1452.6 1429.6 1424.4 1409.4 1448.3 105

106 Loans 933.0 1000.2 1058.2 1141.9 1190.2 1190.5 1162.0 1135.5 1114.9 1129.3 106

107 Short term 225.2 225.0 235.5 243.8 260.6 265.6 264.3 267.9 269.3 288.3 107

108 Depository institution loans n.e.c. 131.4 132.0 140.7 150.0 162.7 166.7 166.7 169.5 173.9 189.2 108

109 Other loans and advances 93.8 93.0 94.8 93.8 97.9 98.9 97.6 98.4 95.5 99.2 109

110 Long term (mortgages) 707.8 775.2 822.7 898.1 929.6 924.9 897.6 867.6 845.5 840.9 110

111 Equity and investment fund shares (direct investment in the U.S.) 8.0 8.1 3.1 6.5 8.7 3.8 3.9 4.4 5.2 4.8 111

112 Other accounts payable 211.0 206.0 205.2 232.9 261.0 258.2 263.7 284.5 289.3 314.2 112

113 Trade payables 66.6 51.4 56.5 63.9 66.5 66.4 67.8 74.1 75.5 83.0 113

114 Taxes payable 21.6 23.3 23.9 26.8 31.4 32.0 32.5 33.1 31.4 32.8 114

115 Other (miscellaneous liabilities) 122.8 131.3 124.9 142.2 163.1 159.8 163.5 177.3 182.4 198.4 115

116 Net worth 2495.0 2617.8 2736.5 2883.5 3008.2 3054.1 3008.2 2983.6 3123.2 3335.5 116

Notes. Nonfinancial noncorporate business includes noncorporate farms that are excluded from the nonfinancial noncorporate business sector in the Flow of Funds Accounts.

Estimates for 2000 and earlier periods are based on the 1987 Standard Industrial Classification System; later estimates are based on the North American Classification System.

(1) Consists of rental income of tenant-occupied housing and proprietors’ income. Quasi-corporations are unincorporated enterprises that function as if they were corporations;

they primarily cover their operating costs through sales, and they keep a complete set of financial records.

(2) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in the fourth quarter of 2004.

(3) Net equity in reserves of property-casualty insurance companies.

(4) Farm houses are included in the household sector.

n.e.c. Not elsewhere classified
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130 Historical Annuals, 1985-1994,

S.5.a Nonfinancial Corporate Business

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 Current account

 1 Gross value added 2369.5 2465.3 2642.5 2874.5 3020.8 3161.2 3231.8 3377.1 3535.3 3816.5 1

 2 Less: Consumption of fixed capital 299.0 317.9 334.7 357.7 380.1 403.0 424.5 437.8 457.9 484.8 2

 3 Equals: Net value added 2070.6 2147.5 2307.8 2516.8 2640.7 2758.3 2807.3 2939.4 3077.3 3331.8 3

 4 Compensation of employees (paid) 1490.1 1578.2 1685.5 1825.3 1934.8 2037.5 2071.1 2188.7 2271.0 2398.7 4

 5 Wages and salaries 1243.0 1307.3 1397.0 1514.9 1600.1 1682.9 1701.7 1783.9 1845.5 1952.8 5

 6 Employers’ social contributions 247.1 270.9 288.4 310.4 334.7 354.6 369.4 404.8 425.6 445.9 6

 7 Taxes on production and imports less subsidies 196.6 204.6 216.8 233.8 248.2 263.5 285.7 302.5 319.3 350.7 7

 8 Operating surplus, net 383.9 364.7 405.5 457.7 457.8 457.2 450.5 448.2 487.0 582.3 8

 9 Net national income/Balance of primary incomes, net 238.5 204.0 241.3 261.9 224.5 215.2 215.5 222.5 269.1 340.8 9

10 Operating surplus, net 383.9 364.7 405.5 457.7 457.8 457.2 450.5 448.2 487.0 582.3 10

11 Property income (received) 174.6 182.3 192.7 221.2 246.1 255.9 247.7 235.3 234.7 249.7 11

12 Interest 123.6 132.4 134.6 151.5 179.0 183.0 180.5 165.2 156.1 170.7 12

13 Distributed income of corporations (dividends) 27.4 30.8 29.9 45.8 42.5 40.2 37.3 40.7 36.1 40.8 13

14 Reinvested earnings on U.S. direct investment abroad 23.6 19.1 28.3 23.9 24.6 32.7 29.9 29.4 42.5 38.3 14

15 Less: Uses of property income (paid) 320.0 343.0 356.8 416.9 479.4 497.9 482.6 461.0 452.6 491.2 15

16 Interest 211.1 230.5 242.6 280.4 332.1 345.6 329.5 289.0 265.7 279.5 16

17 Distributed income of corporations (dividends) 99.4 103.7 106.1 127.9 147.9 158.5 162.8 174.9 185.3 198.8 17

18 Reinvested earnings on foreign direct investment -0.4 -0.7 -0.3 1.3 -7.7 -13.8 -17.9 -11.1 -6.7 4.8 18

19 Rent 9.9 9.5 8.4 7.3 7.1 7.6 8.3 8.2 8.3 8.1 19

20 Net national income/Balance of primary incomes, net 238.5 204.0 241.3 261.9 224.5 215.2 215.5 222.5 269.1 340.8 20

21 Less: Current taxes on income, wealth, etc. (paid) 71.1 76.2 94.2 104.0 101.2 98.5 88.6 94.4 108.0 132.4 21

22 Less: Other current transfers (paid) 15.4 26.9 29.7 27.0 23.5 24.9 26.1 30.7 29.5 34.7 22

23 Equals: Disposable income, net 152.0 100.8 117.5 131.0 99.8 91.9 100.9 97.4 131.6 173.8 23

24 Equals: Net saving 152.0 100.8 117.5 131.0 99.8 91.9 100.9 97.4 131.6 173.8 24

 Capital account

25 Net saving less capital transfers 152.0 100.8 117.5 131.0 101.0 91.9 100.9 104.4 132.2 177.1 25

26 Net saving 152.0 100.8 117.5 131.0 99.8 91.9 100.9 97.4 131.6 173.8 26

27 Less: Capital transfers paid (net) -0.0 0.0 0.0 0.0 -1.2 0.0 0.0 -7.0 -0.6 -3.3 27

28 Capital formation, net 148.6 118.1 117.6 120.1 135.8 134.9 99.4 115.7 149.9 202.7 28

 Gross fixed capital formation (acquisition of

29 produced nonfinancial assets) 431.1 426.2 421.4 450.6 489.9 526.8 524.9 545.1 584.4 638.9 29

30 Less: Consumption of fixed capital 299.0 317.9 334.7 357.7 380.1 403.0 424.5 437.8 457.9 484.8 30

31 Acquisition of nonproduced nonfinancial assets 0.7 2.2 -0.5 -0.8 -0.3 -0.7 -1.7 -1.7 -1.7 -1.7 31

32 Change in private inventories 15.7 7.5 31.4 27.9 26.3 11.7 0.7 10.1 25.1 50.2 32

33 Net lending (+) or borrowing (-), capital account (lines 25-28) 3.5 -17.2 -0.2 10.9 -34.8 -43.0 1.5 -11.3 -17.7 -25.6 33

 Financial account

34 Net lending (+) or borrowing (-), capital account (line 33) 3.5 -17.2 -0.2 10.9 -34.8 -43.0 1.5 -11.3 -17.7 -25.6 34

35 Net acquisition of financial assets 213.0 131.5 228.8 350.4 181.3 124.6 83.0 145.6 332.6 273.6 35

36 Currency and deposits 26.2 21.0 7.0 15.6 0.6 0.1 11.7 -6.4 35.3 17.4 36

37 Currency and transferable deposits 23.2 1.5 9.6 14.0 9.1 6.1 6.9 -4.2 20.6 11.8 37

38 Time and savings deposits 0.2 16.2 0.4 -3.7 -1.7 -6.0 3.0 -1.6 16.0 4.4 38

39 Foreign deposits 2.7 3.2 -2.9 5.3 -6.8 0.0 1.7 -0.6 -1.3 1.2 39

40 Debt securities 7.2 -3.3 -9.1 -4.4 42.8 -27.8 28.6 24.0 10.0 4.2 40

41 Open market paper 0.7 -0.3 4.8 -1.3 0.6 -0.5 0.9 2.3 2.4 -0.6 41

42 Treasury securities 4.6 -0.8 -8.5 -3.9 23.5 -13.8 5.8 17.2 -11.8 2.0 42

43 Agency- and GSE-backed securities (1) -1.3 -1.7 0.3 3.4 3.1 -5.9 1.8 3.5 10.5 0.8 43

44 Municipal securities 3.1 -0.5 -5.7 -2.6 15.6 -7.7 20.1 1.0 8.9 2.0 44

45 Loans 9.1 -0.7 6.7 25.0 -12.9 1.0 1.5 7.3 -3.4 13.1 45

46 Short term (security RPs and consumer credit) 3.6 6.2 5.3 8.3 0.9 2.7 -4.7 6.2 4.4 9.1 46

47 Long term (mortgages) 5.6 -6.9 1.4 16.6 -13.7 -1.6 6.2 1.1 -7.8 4.1 47

48 Equity and investment fund shares 21.2 25.2 21.7 0.6 25.0 49.5 47.1 60.5 55.9 85.9 48

49 Money market fund shares -1.5 0.4 0.9 -5.5 0.0 9.3 4.5 13.5 -3.7 3.2 49

50 Mutual fund shares 3.7 3.8 -2.7 -2.7 -1.4 -1.0 2.4 5.0 6.8 2.1 50

51 U.S. direct investment abroad 14.3 19.0 29.7 11.8 26.1 35.6 38.1 40.0 57.9 78.5 51

52 Equity in government-sponsored enterprises (1) -0.0 -0.0 -0.0 0.0 -0.1 -0.0 0.0 -0.0 0.0 0.0 52

53 Investment in finance company subsidiaries 4.7 2.1 -6.2 -3.0 0.4 5.5 2.1 2.0 -5.2 2.2 53

54 Insurance, pension and standardized guarantee schemes (2) 4.3 18.9 23.5 15.0 14.3 13.4 2.2 13.7 6.9 5.9 54
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1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

55 Other accounts receivable 145.1 70.3 179.0 298.6 111.4 88.4 -8.2 46.7 228.0 147.0 55

56 Trade receivables 45.2 2.1 63.9 90.6 42.1 29.2 -5.8 27.6 50.7 71.9 56

57 Other (miscellaneous assets) 99.9 68.2 115.2 208.0 69.3 59.2 -2.4 19.1 177.3 75.1 57

58 Net incurrence of liabilities 377.4 188.6 273.1 443.3 347.3 183.8 67.4 161.4 218.5 242.6 58

59 Debt securities 120.4 107.9 79.5 115.2 94.4 56.5 59.2 80.5 200.0 118.8 59

60 Open market paper 14.6 -9.3 1.6 11.9 21.4 9.7 -18.4 8.6 10.0 21.4 60

61 Municipal securities 22.6 -9.9 -0.9 0.2 -0.9 -0.3 -1.2 4.3 6.6 6.8 61

62 Corporate bonds 83.2 127.1 78.8 103.1 73.8 47.1 78.8 67.6 183.4 90.6 62

63 Loans 63.8 121.7 85.1 109.2 72.0 74.4 -112.3 -63.4 -65.5 72.0 63

64 Short term 59.0 105.7 39.7 82.4 70.8 51.1 -103.5 -24.2 -34.2 78.7 64

65 Depository institution loans n.e.c. 40.9 67.4 3.4 36.5 22.1 -10.6 -46.2 -30.4 -7.2 47.8 65

66 Other loans and advances 18.1 38.3 36.3 46.0 48.7 61.7 -57.3 6.2 -27.0 30.9 66

67 Long term (mortgages) 4.8 15.9 45.5 26.8 1.2 23.3 -8.8 -39.2 -31.3 -6.7 67

68 Equity and investment fund shares -67.0 -53.1 -23.0 -59.7 -61.8 -3.9 16.9 33.7 41.6 1.2 68

69 Corporate equities -84.5 -85.0 -75.5 -129.5 -124.2 -63.0 18.3 27.0 21.3 -44.9 69

70 Foreign direct investment in the United States 17.5 31.9 52.5 69.8 62.4 59.1 -1.3 6.7 20.3 46.1 70

71 Insurance, pension and standardized guarantee schemes -6.3 30.5 46.1 26.9 28.6 60.2 36.0 82.7 19.2 -7.4 71

72 Pension fund contributions payable 5.8 0.0 1.5 -1.2 7.3 6.1 12.1 9.9 12.3 11.7 72

73 Claim of pension fund on sponsor -12.1 30.5 44.6 28.1 21.3 54.1 23.9 72.8 6.9 -19.1 73

74 Other accounts payable 266.4 -18.3 85.4 251.7 214.1 -3.3 67.6 27.9 23.3 58.1 74

75 Trade payables 42.5 -2.0 44.4 54.1 21.6 28.3 23.1 33.4 36.5 77.4 75

76 Taxes payable -3.2 3.8 5.1 -3.5 -6.1 0.0 -9.4 6.5 5.4 -0.4 76

77 Miscellaneous liabilities 227.1 -20.1 36.0 201.1 198.6 -31.7 54.0 -11.9 -18.7 -18.9 77

 Addendum:

78 Net lending (+) or borrowing (-), financial account (lines 35-58) -164.4 -57.1 -44.3 -92.9 -166.0 -59.2 15.6 -15.8 114.1 31.0 78

 Other changes in volume account

79 Total other volume changes -21.1 71.7 29.4 110.2 70.7 14.6 8.4 -106.9 104.7 111.6 79

80 Disaster losses 0.1 0.0 0.0 0.0 2.8 0.0 0.0 3.8 1.5 5.7 80

81 Other volume changes 146.7 118.6 57.3 191.9 182.7 18.0 -0.8 -109.0 -32.7 36.9 81

82 Less: Statistical discrepancy (lines 33-[35-58]) (3) 167.8 39.9 44.1 103.8 131.2 16.3 -14.1 4.5 -131.9 -56.5 82

83 Less: Inventory valuation adjustment 0.0 7.1 -16.2 -22.2 -16.3 -12.9 4.9 -2.8 -4.0 -12.4 83

 Revaluation account

84 Nonfinancial assets 79.6 78.4 156.5 224.7 162.6 -1.1 -247.4 -256.1 -21.9 194.6 84

85 Real estate 48.6 38.7 94.1 148.2 100.3 -81.7 -273.5 -288.0 -53.0 136.7 85

86 Equipment 28.5 40.2 38.0 51.9 48.7 60.2 24.9 19.9 20.3 29.7 86

87 Intellectual property products 6.3 5.6 15.4 12.9 12.7 12.1 11.9 9.4 7.5 17.6 87

88 Inventories -3.7 -6.1 9.0 11.6 0.9 8.4 -10.7 2.6 3.3 10.6 88

89 Financial assets 2.9 7.3 30.3 10.9 -10.3 21.6 -11.3 -32.6 -35.4 -0.9 89

90 Mutual fund shares -0.1 1.1 -0.2 0.5 2.5 -1.0 2.7 1.3 1.8 -0.8 90

91 Direct investment abroad 3.0 6.2 30.5 10.3 -12.9 22.6 -14.0 -33.9 -37.2 -0.1 91

92 Liabilities 449.9 420.2 131.5 408.7 702.6 -120.2 1023.7 341.3 461.2 6.1 92

93 Corporate equity 448.1 408.9 121.3 400.9 704.7 -119.8 1024.4 335.7 459.9 -0.6 93

94 Foreign direct investment in the United States 1.8 11.3 10.2 7.8 -2.1 -0.5 -0.7 5.6 1.3 6.7 94

95 Changes in net worth due to nominal holding gains/losses -367.4 -334.5 55.3 -173.2 -550.3 140.8 -1282.4 -630.0 -518.4 187.6 95

 Changes in balance sheet account

96 Change in net worth (lines 28+33+79+95) (4) -236.4 -162.0 202.2 68.0 -378.7 247.4 -1173.1 -632.5 -281.6 476.4 96

 Balance sheet account (end of period)

97 Total assets 7799.9 8150.4 8673.4 9430.1 9973.0 10234.5 10204.7 10215.0 10694.0 11364.6 97

98 Nonfinancial assets (5) 5326.5 5507.9 5800.0 6177.4 6491.8 6645.3 6489.9 6337.3 6468.1 6868.8 98

99 Real estate 2872.9 2956.9 3096.1 3297.0 3446.5 3432.4 3204.1 2945.7 2930.1 3100.7 99

100 Equipment 1417.2 1492.3 1553.9 1636.1 1720.1 1814.9 1863.2 1917.6 1996.7 2109.1 100

101 Intellectual property products 315.8 343.8 378.4 411.0 448.5 488.1 527.7 563.6 598.4 642.8 101

102 Inventories 720.6 714.9 771.5 833.3 876.8 909.8 894.9 910.4 942.9 1016.2 102

103 Financial assets 2473.5 2642.5 2873.4 3252.7 3481.2 3589.3 3714.9 3877.7 4225.9 4495.8 103

104 Currency and deposits 211.9 232.8 239.9 255.5 256.0 256.2 267.8 261.4 296.7 314.1 104

105 Currency and transferable deposits 126.5 128.1 137.7 151.6 160.7 166.9 173.8 169.6 190.2 202.1 105

106 Time and savings deposits 69.3 85.5 85.9 82.3 80.6 74.6 77.6 76.0 92.0 96.4 106

107 Foreign deposits 16.0 19.2 16.3 21.6 14.7 14.7 16.4 15.8 14.5 15.7 107
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S.5.a Nonfinancial Corporate Business

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1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

108 Debt securities 81.2 77.9 68.8 64.4 107.2 79.4 108.1 132.0 142.0 146.2 108

109 Open market paper 10.5 10.2 15.0 13.6 14.3 13.8 14.7 17.0 19.4 18.8 109

110 Treasury securities 41.1 40.3 31.8 27.9 51.4 37.6 43.4 60.6 48.8 50.8 110

111 Agency- and GSE-backed securities (1) 4.0 2.4 2.6 6.0 9.2 3.3 5.1 8.6 19.1 19.9 111

112 Municipal securities 25.6 25.1 19.4 16.8 32.4 24.7 44.8 45.8 54.7 56.7 112

113 Loans 102.9 102.2 108.9 133.9 121.0 122.1 123.6 130.8 132.0 145.2 113

114 Short term 45.9 52.1 57.4 65.7 66.6 69.3 64.6 70.8 79.7 88.8 114

115 Security repurchases 3.4 5.1 3.4 5.0 2.8 2.1 1.6 5.1 2.5 2.2 115

116 Consumer credit 42.5 47.0 54.0 60.8 63.8 67.1 63.0 65.7 77.2 86.6 116

117 Long term (mortgages) 57.0 50.2 51.5 68.1 54.4 52.8 59.0 60.0 52.3 56.4 117

118 Equity and investment fund shares 419.4 451.8 503.9 515.4 530.1 601.2 637.0 664.9 685.4 770.5 118

119 Money market fund shares 14.5 14.9 15.8 10.3 10.4 19.7 24.1 37.6 33.9 37.1 119

120 Mutual fund shares 10.8 15.7 12.8 10.6 11.7 9.7 14.8 21.1 29.8 31.1 120

121 U.S. direct investment abroad 377.1 402.3 462.5 484.7 497.9 556.2 580.3 586.4 607.1 685.6 121

122 Equity in government-sponsored enterprises (1) 0.3 0.3 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 122

123 Investment in finance company subsidiaries 16.7 18.7 12.5 9.5 9.9 15.5 17.6 19.6 14.4 16.6 123

124 Insurance, pension and standardized guarantee schemes (2) 64.2 83.1 106.6 121.6 136.0 149.3 151.5 165.2 172.1 178.0 124

125 Other accounts receivable 1594.0 1694.6 1845.4 2162.0 2330.8 2381.1 2426.9 2523.3 2797.7 2941.9 125

126 Trade receivables 739.3 741.5 805.3 895.9 938.0 967.2 961.4 988.9 1035.0 1107.0 126

127 Other (miscellaneous assets) 854.6 953.1 1040.0 1266.1 1392.9 1414.0 1465.5 1534.4 1762.6 1834.9 127

128 Total liabilities and net worth 7799.9 8150.4 8673.4 9430.1 9973.0 10234.5 10204.7 10215.0 10694.0 11364.6 128

129 Liabilities 5237.9 5750.4 6071.2 6759.9 7681.4 7695.6 8838.9 9481.7 10242.3 10436.6 129

130 Debt securities 777.5 885.4 974.1 1089.3 1183.7 1240.2 1299.4 1379.9 1580.6 1699.4 130

131 Open market paper 72.2 62.9 73.8 85.7 107.1 116.9 98.5 107.1 117.8 139.2 131

132 Municipal securities 127.0 117.1 116.2 116.4 115.5 115.2 114.0 118.3 124.9 131.7 132

133 Corporate bonds 578.2 705.4 784.1 887.2 961.1 1008.2 1086.9 1154.5 1337.9 1428.5 133

134 Loans 854.6 975.3 1078.9 1168.0 1264.7 1337.3 1220.3 1160.1 1106.4 1185.4 134

135 Short term 685.3 790.0 826.2 913.0 1001.5 1051.3 943.2 922.2 888.0 973.8 135

136 Depository institution loans n.e.c. 447.0 514.5 517.8 559.2 598.8 588.2 537.6 510.4 503.2 551.7 136

137 Other loans and advances 238.2 275.5 308.4 353.8 402.7 463.1 405.6 411.8 384.8 422.0 137

138 Long term (mortgages) 169.3 185.3 252.7 255.0 263.2 285.9 277.1 237.9 218.3 211.6 138

139 Equity and investment fund shares 2127.8 2494.9 2603.4 2952.4 3593.2 3469.1 4509.7 4884.8 5387.6 5394.9 139

140 Corporate equity 1916.9 2240.8 2286.7 2558.1 3138.6 2955.8 3998.5 4361.2 4842.3 4796.8 140

141 Foreign direct investment in the United States 210.9 254.1 316.7 394.3 454.6 513.3 511.3 523.6 545.3 598.1 141

142 Insurance, pension and standardized guarantee schemes -5.3 28.8 103.5 161.5 115.3 206.9 129.6 177.2 137.6 116.0 142

143 Pension fund contributions payable 18.7 18.7 20.3 19.0 26.3 32.3 44.4 54.3 66.6 78.3 143

144 Claim of pension fund on sponsor -24.0 10.0 83.3 142.5 89.0 174.6 85.2 122.9 71.0 37.7 144

145 Other accounts payable 1483.3 1366.1 1311.2 1388.7 1524.5 1442.2 1679.9 1879.6 2030.2 2040.9 145

146 Trade payables 480.4 478.5 522.8 577.0 598.5 626.9 650.1 683.5 720.0 797.4 146

147 Taxes payable 39.0 42.8 47.9 44.4 38.3 38.3 28.9 35.3 40.7 40.3 147

148 Miscellaneous liabilities 963.9 844.8 740.6 767.3 887.7 777.1 1000.9 1160.8 1269.4 1203.2 148

149 Net worth 2562.0 2400.0 2602.2 2670.2 2291.6 2538.9 1365.8 733.3 451.7 928.1 149

Notes. Nonfinancial corporate business includes corporate farms that are excluded from the nonfinancial corporate business sector in the Flow of Funds Accounts.

Estimates for 2000 and earlier periods are based on the 1987 Standard Industrial Classification System; later estimates are based on the North American Classification System.

(1) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

 the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in the fourth quarter of 2004.

(2) Net equity in reserves of property-casualty insurance companies.

(3) The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy

reflects differences in source data, timing of recorded flows, and other statistical differences between the capital and financial accounts.

(4) Includes changes in the market value of shares and other equity that are excluded from the related measures for the nonfinancial corporate business sector in the Flow of Funds Accounts.

(5) Excludes nonproduced nonfinancial assets.

n.e.c. Not elsewhere classified
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1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 Current account

 1 Gross value added 257.4 269.9 292.8 312.5 349.1 354.8 370.7 410.6 436.9 454.8 1

 2 Less: Consumption of fixed capital 30.3 34.5 39.3 44.7 50.3 55.5 59.7 61.6 65.0 69.0 2

 3 Equals: Net value added 227.1 235.4 253.5 267.9 298.9 299.3 311.0 348.9 371.9 385.8 3

 4 Compensation of employees (paid) 135.5 155.6 174.4 189.3 196.4 209.4 219.2 246.2 260.0 265.9 4

 5 Wages and salaries 116.9 134.1 150.4 162.2 166.8 177.0 184.4 206.5 216.7 220.9 5

 6 Employers’ social contributions 18.6 21.5 24.0 27.2 29.5 32.5 34.8 39.8 43.3 45.0 6

 7 Taxes on production and imports less subsidies 13.5 16.0 18.0 20.1 21.5 23.4 24.7 25.3 26.4 27.5 7

 8 Operating surplus, net 78.1 63.8 61.1 58.4 81.0 66.5 67.1 77.4 85.5 92.4 8

 9 Net national income/Balance of primary incomes, net 49.5 43.7 37.6 49.7 65.7 67.2 89.2 97.4 79.6 77.5 9

10 Operating surplus, net 78.1 63.8 61.1 58.4 81.0 66.5 67.1 77.4 85.5 92.4 10

11 Property income (received) 734.9 768.7 830.8 941.6 1094.8 1110.2 1053.3 968.8 955.1 1035.6 11

12 Interest 707.5 740.4 801.6 904.0 1051.9 1064.0 1006.2 916.9 896.1 969.4 12

13 Distributed income of corporations (dividends) 25.3 26.5 26.5 35.1 39.8 41.7 43.0 47.7 52.0 59.5 13

14 Reinvested earnings on U.S. direct investment abroad 2.2 1.8 2.7 2.5 3.1 4.6 4.1 4.2 6.9 6.6 14

15 Less: Uses of property income (paid) 763.5 788.8 854.3 950.3 1110.1 1109.6 1031.2 948.7 961.1 1050.5 15

16 Interest 715.4 737.3 792.5 880.0 1030.7 1021.9 937.9 858.4 854.1 932.4 16

17 Distributed income of corporations 48.2 51.5 61.8 70.3 79.4 87.6 93.4 90.6 107.1 117.9 17

18 Dividends 39.0 42.0 45.8 50.9 60.8 67.5 73.7 74.9 87.6 99.3 18

19 Withdrawals from income of quasi-corporations (1) 9.2 9.6 16.0 19.4 18.7 20.1 19.6 15.7 19.5 18.6 19

20 Reinvested earnings on foreign direct investment -0.0 -0.1 0.0 0.0 -0.1 0.1 -0.1 -0.2 -0.1 0.2 20

21 Rents on land and natural resources 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

22 Net national income/Balance of primary incomes, net 49.5 43.7 37.6 49.7 65.7 67.2 89.2 97.4 79.6 77.5 22

23 Less: Current taxes on income, wealth, etc. (paid) 28.3 33.4 36.2 37.7 44.9 47.0 50.0 54.3 63.0 60.8 23

24 Less: Other current transfers (paid) 15.6 2.6 -4.4 -0.4 10.4 9.4 7.9 3.5 2.5 -2.2 24

25 Equals: Disposable income, net 5.5 7.7 5.8 12.4 10.4 10.8 31.4 39.7 14.1 19.0 25

26 Equals: Net saving 5.5 7.7 5.8 12.4 10.4 10.8 31.4 39.7 14.1 19.0 26

 Capital account

27 Net saving less capital transfers 5.5 7.7 5.8 12.4 7.2 10.8 30.1 22.3 12.0 6.8 27

28 Net saving 5.5 7.7 5.8 12.4 10.4 10.8 31.4 39.7 14.1 19.0 28

29 Less: Capital transfers paid (net) 0.0 0.0 0.0 0.0 3.2 0.0 1.3 17.4 2.0 12.2 29

30 Capital formation, net 34.8 36.6 35.0 37.2 41.1 33.4 21.6 19.7 24.6 27.9 30

31 Gross fixed capital formation (nonresidential) 65.0 71.1 74.3 81.9 91.3 88.9 81.3 81.3 89.6 96.9 31

32 Less: Consumption of fixed capital 30.3 34.5 39.3 44.7 50.3 55.5 59.7 61.6 65.0 69.0 32

33 Net lending (+) or borrowing (-), capital account (lines 27-30) -29.3 -28.9 -29.2 -24.9 -33.9 -22.7 8.5 2.6 -12.5 -21.1 33

 Financial account

34 Net lending (+) or borrowing (-) (line 33) -29.3 -28.9 -29.2 -24.9 -33.9 -22.7 8.5 2.6 -12.5 -21.1 34

35 Net acquisition of financial assets 1058.5 1258.5 967.9 998.5 1037.1 757.0 895.2 1042.5 1410.5 1276.4 35

36 Monetary gold -0.0 -0.0 0.0 -0.0 -0.0 -0.0 0.0 -0.0 -0.0 -0.0 36

37 Currency and deposits 24.5 44.1 -20.1 29.5 55.8 -13.6 -8.3 -20.2 -12.7 -0.6 37

38 Debt securities 430.4 546.7 354.0 306.8 334.4 388.0 462.9 534.5 621.6 291.2 38

39 SDR certificates 0.1 0.3 0.0 0.0 3.5 1.5 0.0 -2.0 0.0 0.0 39

40 Open market paper 61.4 27.2 27.1 35.3 67.6 24.9 -15.3 9.9 -29.5 21.2 40

41 Treasury securities 97.0 121.5 40.9 -6.1 43.2 86.7 202.8 164.3 107.1 -8.1 41

42 Agency- and GSE-backed securities (2) 73.6 174.3 151.9 85.7 80.8 151.6 101.9 120.9 183.9 147.9 42

43 Municipal securities 100.6 44.2 -8.3 0.9 5.6 20.8 18.4 51.6 86.5 9.1 43

44 Corporate and foreign bonds 57.8 149.6 112.1 158.3 99.1 69.1 116.7 150.1 236.5 83.5 44

45 Nonmarketable government securities 39.9 29.6 30.3 32.8 34.6 33.4 38.4 39.8 37.1 37.6 45

46 Loans 431.8 467.9 379.2 433.6 417.5 200.5 86.3 142.5 256.3 453.6 46

47 Short term 197.9 183.4 70.4 142.8 140.4 19.3 -39.3 13.9 99.8 275.1 47

48 Long term (mortgages) 233.9 284.5 308.8 290.8 277.1 181.2 125.6 128.7 156.5 178.5 48

49 Equity and investment fund shares 107.9 85.2 109.9 76.6 38.2 48.8 177.5 211.6 393.4 309.8 49

50 Corporate equities 55.3 35.3 65.4 18.8 -2.9 16.9 121.3 88.9 243.2 168.3 50

51 Mutual fund shares 3.1 10.1 3.8 2.7 0.2 19.7 20.2 36.5 42.8 75.6 51

52 Money market mutual fund shares 8.4 5.8 1.5 7.5 10.7 19.3 17.4 30.1 22.2 18.6 52

53 Equity in government-sponsored enterprises (2) 1.1 1.2 1.8 1.9 0.2 -2.3 -0.9 -0.1 1.3 1.6 53

54 U.S. direct investment abroad 0.5 0.1 1.5 4.3 12.8 -2.9 1.0 4.5 26.0 1.7 54

55 Stock in Federal Reserve Banks 0.2 0.1 0.2 0.1 0.1 0.2 0.2 0.4 0.3 0.3 55

56 Investment in subsidiaries 39.3 32.6 35.6 41.3 17.1 -2.1 18.3 51.4 57.3 43.6 56
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57 Insurance, pension and standardized guarantee schemes 3.3 54.8 93.5 68.3 87.2 124.2 111.4 122.1 74.2 91.3 57

58 Other accounts receivable 60.6 59.8 51.4 83.7 104.0 9.0 65.3 51.9 77.7 131.1 58

59 Net incurrence of liabilities 1065.8 1249.4 936.6 981.2 1001.9 759.2 844.5 1048.5 1362.7 1247.3 59

60 Currency and deposits 272.1 288.1 163.2 222.9 120.6 73.1 28.9 23.0 71.9 68.0 60

61 Debt securities 187.9 296.0 273.5 227.8 221.7 230.6 185.4 238.2 280.0 448.1 61

62 Agency- and GSE-backed securities (2) 99.5 179.5 168.0 120.8 149.5 167.5 145.8 156.3 165.3 292.2 62

63 Corporate bonds 56.5 92.3 78.6 52.2 40.8 54.5 72.0 83.0 120.2 115.5 63

64 Commercial paper 32.0 24.2 26.9 54.8 31.3 8.6 -32.3 -1.1 -5.5 40.5 64

65 Loans 63.2 84.5 -0.0 43.7 91.5 -41.3 -10.9 43.5 118.4 89.9 65

66 Short term 63.1 84.2 -0.4 43.5 91.2 -42.0 -11.4 42.9 114.8 80.1 66

67 Long term (mortgages) 0.1 0.3 0.3 0.3 0.3 0.6 0.5 0.6 3.6 9.8 67

68 Equity and investment fund shares 153.3 256.4 137.1 71.8 142.4 118.5 237.1 307.7 447.1 190.0 68

69 Money market mutual fund shares 10.2 48.2 23.2 21.2 89.7 68.6 41.6 4.5 20.2 40.5 69

70 Corporate equity issues 10.5 14.7 14.9 22.9 3.6 6.7 22.3 40.2 51.1 9.9 70

71 Mutual fund shares 86.5 153.3 60.2 -1.6 27.4 53.7 133.9 190.5 292.0 100.6 71

72 Equity in government-sponsored enterprises (2) 0.8 0.5 1.3 2.0 -0.6 -2.5 -0.7 -0.2 1.6 1.8 72

73 Foreign direct investment in the United States 1.6 2.4 5.3 -12.9 4.5 -11.3 24.5 13.0 31.0 0.0 73

74 Equity in noncorporate business 0.1 1.2 -0.8 0.1 -1.7 -0.7 0.5 0.1 0.9 -1.1 74

75 Investment by parent 43.5 36.0 32.8 40.1 19.4 3.9 14.7 59.2 49.9 38.0 75

76 Stock in Federal Reserve Banks 0.2 0.1 0.2 0.1 0.1 0.2 0.2 0.4 0.3 0.3 76

77 Insurance, pension and standardized guarantee schemes 282.6 307.6 331.1 347.7 345.1 364.7 366.1 373.0 410.8 426.5 77

78 Other accounts payable 106.7 16.9 31.8 67.3 80.6 13.7 37.9 63.1 34.6 24.7 78

 Addendum:

79 Net lending (+) or borrowing (-), financial account (lines 35-59) -7.3 9.1 31.2 17.3 35.2 -2.2 50.7 -6.1 47.8 29.1 79

 Other changes in volume account

80 Total other volume changes -74.0 39.4 76.9 54.5 -5.5 14.1 -159.1 49.8 -25.6 -41.4 80

81 Disaster losses 0.0 0.0 0.0 0.0 0.2 0.0 0.0 0.3 0.1 0.2 81

82 Other volume changes -95.9 1.4 16.5 12.4 -74.8 -6.3 -201.3 58.2 -86.0 -91.7 82

83 Less: Statistical discrepancy (lines 33-[35-59]) (3) -21.9 -38.0 -60.5 -42.1 -69.1 -20.5 -42.2 8.7 -60.3 -50.2 83

 Revaluation account

84 Nonfinancial assets 5.9 10.9 10.3 13.8 13.0 12.2 0.7 7.6 13.1 18.7 84

85 Structures (nonresidential) 6.0 8.8 8.9 9.5 10.7 8.1 1.1 8.5 13.9 18.6 85

86 Equipment 0.2 2.3 1.3 4.4 3.1 3.9 0.7 0.2 -0.8 0.6 86

87 Intellectual property products -0.2 -0.2 0.1 -0.2 -0.7 0.2 -1.1 -1.1 -0.1 -0.5 87

88 Financial assets 183.2 70.3 2.1 34.6 307.2 -77.7 342.0 146.0 272.3 -28.0 88

89 Corporate equities 175.4 65.3 -12.2 26.6 286.0 -80.8 347.3 131.2 255.2 -18.1 89

90 Mutual fund shares 7.3 0.6 6.9 5.1 12.4 -0.7 -8.0 8.7 14.7 7.1 90

91 U.S. direct investment abroad 0.5 4.4 7.4 2.8 8.8 3.8 2.8 6.1 2.4 -17.1 91

92 Liabilities 148.7 117.5 -44.8 74.5 319.5 -152.3 314.6 311.8 276.0 -70.4 92

93 Corporate equity issues 88.8 45.1 -54.9 37.0 84.5 -105.8 170.2 136.0 113.0 -26.6 93

94 Mutual fund shares 23.8 27.3 -6.5 21.9 61.6 -34.9 27.2 32.6 90.8 1.3 94

95 Foreign direct investment in the United States 1.9 -8.3 -13.2 -0.8 -1.0 -5.0 5.4 -18.9 -0.4 -27.8 95

96 Equity in noncorporate business 0.7 0.5 0.5 0.3 0.8 -0.1 0.3 0.3 0.2 -0.0 96

97 Pension fund reserves 32.7 52.9 45.2 16.1 173.5 -6.8 109.9 161.9 72.3 -17.3 97

98 Investment by parent 0.9 0.0 -16.0 0.0 0.0 0.2 1.6 0.0 0.0 0.0 98

99 Changes in net worth due to nominal holding gains/losses 40.3 -36.4 57.2 -26.1 0.8 86.8 28.1 -158.2 9.4 61.1 99

 Changes in balance sheet account

100 Change in net worth (lines 30+33+80+99) -28.1 10.8 139.9 40.8 2.4 111.6 -100.9 -86.2 -4.2 26.5 100

 Balance sheet account (end of period)

101 Total assets 9899.0 11278.3 12366.5 13482.1 14802.8 15544.1 16622.5 17959.9 19609.2 20959.5 101

102 Nonfinancial assets (4) 356.6 404.1 449.3 500.3 554.2 599.9 622.1 649.2 686.7 733.1 102

103 Structures (nonresidential) 212.4 239.1 264.5 290.5 319.7 345.6 358.7 378.2 401.1 429.5 103

104 Equipment 129.9 148.8 166.0 187.8 208.7 223.8 229.3 233.5 245.5 262.2 104

105 Intellectual property products 14.3 16.2 18.8 22.0 25.8 30.4 34.1 37.4 40.2 41.5 105
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1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

106 Financial assets 9542.4 10874.2 11917.2 12981.8 14248.5 14944.3 16000.3 17310.8 18922.4 20226.3 106

107 Monetary gold 11.1 11.1 11.1 11.1 11.1 11.1 11.1 11.1 11.1 11.1 107

108 Currency and deposits 278.4 324.5 304.7 335.1 400.5 386.9 376.8 352.6 340.4 342.2 108

109 Debt securities 2812.6 3362.6 3758.3 4065.2 4393.8 4780.9 5246.5 5799.3 6443.2 6741.1 109

110 SDR certificates 4.7 5.0 5.0 5.0 8.5 10.0 10.0 8.0 8.0 8.0 110

111 Open market paper 283.4 310.6 358.4 393.6 462.8 487.7 472.4 482.3 458.9 487.8 111

112 Treasury securities 772.4 895.1 940.9 932.4 975.9 1062.7 1254.8 1422.1 1531.9 1522.9 112

113 Agency- and GSE-backed securities (2) 478.9 653.9 805.8 892.3 973.3 1124.9 1236.1 1365.2 1551.9 1699.5 113

114 Municipal securities 428.0 472.7 464.2 465.1 471.3 492.5 511.4 564.3 652.4 661.7 114

115 Corporate and foreign bonds 673.0 823.7 952.1 1112.0 1202.7 1270.5 1390.7 1546.5 1792.3 1875.6 115

116 Nonmarketable government securities 172.1 201.7 232.0 264.7 299.3 332.6 371.0 410.8 447.9 485.5 116

117 Loans 3834.4 4301.8 4668.4 5101.8 5541.3 5769.2 5854.7 6024.7 6276.4 6730.5 117

118 Short term 1810.5 1994.0 2065.1 2212.8 2387.9 2405.9 2362.2 2403.5 2498.7 2773.9 118

119 Long term (mortgages) 2023.9 2307.8 2603.2 2888.9 3153.4 3363.3 3492.5 3621.2 3777.8 3956.6 119

120 Equity and investment fund shares 1259.8 1415.3 1511.3 1622.5 1967.9 1939.2 2457.0 2814.6 3480.3 3762.1 120

121 Corporate equities 904.1 1004.8 1058.0 1103.4 1386.5 1322.6 1791.1 2011.2 2509.6 2659.9 121

122 Mutual fund shares 21.3 32.1 42.8 50.7 63.3 82.3 94.4 139.7 197.2 280.0 122

123 Money market fund shares 31.6 37.3 38.9 46.4 57.1 76.4 93.8 123.8 146.1 164.6 123

124 Equity in government-sponsored enterprises (2) 8.3 9.5 11.3 13.2 13.4 11.1 10.2 10.1 11.5 13.1 124

125 U.S. direct investment abroad 30.7 35.2 44.1 51.2 72.8 73.6 77.4 88.0 116.4 101.0 125

126 Stock in Federal Reserve Banks 1.8 1.9 2.0 2.1 2.2 2.4 2.7 3.1 3.4 3.7 126

127 Investment in subsidiaries 261.9 294.6 314.1 355.5 372.6 370.8 387.3 438.7 496.1 539.7 127

128 Insurance, pension and standardized guarantee schemes 924.2 982.9 1117.2 1184.1 1220.2 1388.4 1320.9 1519.8 1506.5 1589.8 128

129 Other accounts receivable 421.9 476.1 546.2 662.1 713.8 668.7 733.5 788.6 864.5 1049.8 129

130 Total liabilities and net worth 9899.0 11278.3 12366.5 13482.1 14802.8 15544.1 16622.5 17959.9 19609.2 20959.5 130

131 Liabilities 9596.9 10965.4 11913.7 12988.6 14306.8 14936.6 16115.8 17539.4 19192.8 20516.6 131

132 Currency and deposits 3074.5 3356.8 3501.7 3740.7 3861.9 3935.9 3965.7 3981.4 4052.8 4121.4 132

133 Debt securities 1111.2 1414.6 1699.5 1927.3 2177.4 2411.2 2596.6 2850.4 3135.8 3592.0 133

134 Agency- and GSE-backed securities (2) 625.7 804.6 972.6 1093.4 1242.9 1413.6 1559.4 1715.7 1880.9 2173.4 134

135 Corporate bonds 233.1 325.4 404.0 456.1 525.5 580.0 651.9 741.2 861.4 976.9 135

136 Commercial paper 252.4 284.6 322.9 377.7 409.1 417.7 385.3 393.5 393.4 441.6 136

137 Loans 466.9 548.9 555.2 602.4 694.0 652.6 641.7 710.5 828.8 918.7 137

138 Short term 464.4 546.1 552.1 599.1 690.3 648.3 636.9 705.1 819.9 900.0 138

139 Long term (mortgages) 2.5 2.8 3.1 3.4 3.7 4.3 4.8 5.4 8.9 18.7 139

140 Equity and investment fund shares 1106.7 1427.7 1474.7 1605.0 1893.4 1866.2 2308.0 2765.6 3416.3 3553.2 140

141 Money market fund shares 242.4 290.6 313.8 335.0 424.7 493.3 535.0 539.5 559.6 600.1 141

142 Corporate equity issues 309.1 369.0 328.9 388.9 477.0 377.9 570.3 746.5 910.7 893.9 142

143 Mutual fund shares 245.9 426.5 480.2 500.5 589.6 608.4 769.5 992.5 1375.4 1477.3 143

144 Equity in government-sponsored enterprises (2) 13.1 13.7 15.0 16.9 16.3 13.7 13.0 12.8 14.4 16.3 144

145 Foreign direct investment in the United States 28.4 22.5 14.7 1.0 4.5 -11.8 18.2 12.3 42.8 15.1 145

146 Equity in noncorporate business 3.9 5.5 5.3 5.6 4.7 4.0 4.7 5.1 6.2 5.1 146

147 Investment by parent 262.0 298.0 314.8 354.9 374.3 378.4 394.7 453.9 503.7 541.7 147

148 Stock in Federal Reserve Banks 1.8 1.9 2.0 2.1 2.2 2.4 2.7 3.1 3.4 3.7 148

149 Insurance, pension and standardized guarantee schemes 3492.5 3854.2 4236.3 4598.8 5122.9 5481.2 5966.2 6523.7 7034.0 7442.8 149

150 Other accounts payable 345.1 363.2 446.3 514.4 557.3 589.4 637.6 707.9 725.1 888.6 150

151 Net worth 302.1 312.9 452.8 493.5 495.9 607.6 506.7 420.5 416.4 442.9 151

Notes. Financial business includes depository institutions, insurance companies and pension funds, monetary authority, and other financial institutions.

Estimates for 2000 and earlier periods are based on the 1987 Standard Industrial Classification System; later estimates are based on the North American Classification System.

(1) Consists of rental income of tenant-occupied housing and proprietors’ income. Quasi-corporations are unincorporated enterprises that function as if they were corporations;

they primarily cover their operating costs through sales, and they keep a complete set of financial records.

(2) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in the fourth quarter of 2004.

(3) The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy

reflects differences in source data, timing of recorded flows, and other statistical differences between the capital and financial accounts.

(4) Excludes land. Includes corporate and noncorporate financial business.

SDRs Special Drawing Rights
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1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 Current account

 1 Gross value added 267.2 279.5 291.9 313.3 329.7 344.6 367.4 378.8 379.4 382.9 1

 2 Less: Consumption of fixed capital 93.3 100.3 107.5 116.3 124.2 131.1 137.9 141.4 145.3 148.3 2

 3 Equals: Net value added 173.8 179.1 184.3 197.0 205.5 213.5 229.5 237.4 234.1 234.6 3

 4 Compensation of employees (paid) 175.4 179.7 184.8 196.4 204.4 215.8 227.3 233.3 230.6 230.6 4

 5 Wages and salaries 128.2 132.0 138.4 146.2 151.1 160.4 168.8 173.5 173.7 174.0 5

 6 Employers’ social contributions 47.3 47.7 46.5 50.2 53.3 55.4 58.5 59.7 56.9 56.5 6

 7 Operating surplus, net -1.6 -0.6 -0.5 0.7 1.1 -2.3 2.1 4.1 3.5 4.0 7

 8 Net national income/Balance of primary incomes, net -160.2 -173.6 -188.7 -196.4 -217.0 -236.6 -237.5 -243.5 -251.3 -246.4 8

 9 Operating surplus, net -1.6 -0.6 -0.5 0.7 1.1 -2.3 2.1 4.1 3.5 4.0 9

10 Taxes on production and imports, receivable 46.1 43.7 45.9 49.8 49.7 50.9 61.8 63.3 66.4 79.0 10

11 Subsidies (paid) -21.0 -24.6 -30.0 -29.2 -27.1 -26.6 -27.1 -29.7 -36.3 -32.2 11

12 Property income (received) 30.1 32.1 28.2 30.2 28.9 30.4 30.0 25.7 26.6 23.6 12

13 Interest 25.6 28.8 25.1 27.4 25.9 26.9 26.2 22.2 22.8 20.0 13

14 Distributed income of corporations (dividends) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

15 Rents on land and natural resources 4.6 3.3 3.1 2.8 3.0 3.5 3.8 3.5 3.8 3.6 15

16 Less: Uses of property income (interest paid) 213.7 224.2 232.3 247.9 269.7 289.0 304.4 306.9 311.4 320.8 16

17 Net national income/Balance of primary incomes, net -160.2 -173.6 -188.7 -196.4 -217.0 -236.6 -237.5 -243.5 -251.3 -246.4 17

18 Plus: Current taxes on income, wealth, etc. (received) 414.2 435.6 497.7 516.3 571.4 591.3 573.9 596.6 646.7 702.4 18

19 Plus: Social benefits (received) 277.9 298.9 317.4 354.8 378.0 402.0 420.6 444.0 465.5 496.2 19

20 Less: Social contributions (paid) 329.4 348.1 360.9 381.9 415.2 451.2 498.0 555.7 587.7 613.3 20

21 Plus: Other current transfers (received) 8.6 7.6 10.2 9.6 11.8 13.3 17.2 18.4 20.2 21.6 21

22 Less: Other current transfers (paid) 89.9 96.6 91.1 98.9 105.4 117.9 98.4 162.2 177.4 186.8 22

23 Equals: Disposable income, net 121.1 123.8 184.6 203.5 223.5 200.9 177.7 97.6 115.9 173.6 23

24 Less: Final consumption expenditures 316.8 336.5 347.8 360.8 380.2 401.8 423.9 430.2 427.7 427.3 24

25 Equals: Net saving -195.6 -212.7 -163.2 -157.3 -156.6 -200.9 -246.2 -332.7 -311.8 -253.7 25

 Capital account

26 Net saving less capital transfers -208.8 -225.8 -175.1 -169.5 -168.0 -217.5 -261.7 -344.0 -323.2 -264.6 26

27 Net saving -195.6 -212.7 -163.2 -157.3 -156.6 -200.9 -246.2 -332.7 -311.8 -253.7 27

28 Less: Capital transfers paid (net) 13.2 13.1 11.9 12.1 11.3 16.6 15.5 11.3 11.4 10.9 28

29 Capital formation, net 38.0 38.5 44.5 31.5 26.3 26.3 19.0 15.2 5.6 -2.9 29

 Gross fixed capital formation (acquisition of

30 produced nonfinancial assets) 132.5 141.9 152.4 148.0 151.2 158.2 156.8 156.4 150.7 145.4 30

31 Less: Consumption of fixed capital 93.3 100.3 107.5 116.3 124.2 131.1 137.9 141.4 145.3 148.3 31

32 Acquisition of nonproduced nonfinancial assets -1.2 -3.0 -0.4 -0.2 -0.7 -0.8 0.1 0.2 0.2 0.1 32

33 Net lending (+) or borrowing (-), capital account (lines 26-29) -246.8 -264.3 -219.5 -201.0 -194.3 -243.8 -280.8 -359.1 -328.8 -261.7 33

 Financial account

34 Net lending (+) or borrowing (-) (line 33) -246.8 -264.3 -219.5 -201.0 -194.3 -243.8 -280.8 -359.1 -328.8 -261.7 34

35 Net acquisition of financial assets 31.8 6.0 -18.0 -5.0 9.6 66.7 59.9 -22.9 -13.2 -37.0 35

36 Monetary gold and SDRs 0.9 0.3 0.5 -0.1 0.5 0.2 0.2 -2.3 0.5 0.4 36

37 Monetary gold 0.0 0.0 -0.0 0.0 0.0 0.0 -0.0 0.0 0.0 0.0 37

38 SDR holdings 0.9 0.2 0.5 -0.1 0.5 0.2 0.2 -2.3 0.5 0.4 38

39 Currency and deposits 13.9 -1.4 -13.6 10.0 -2.3 5.7 25.7 -16.9 21.4 -24.9 39

40 Official foreign currencies 1.9 0.5 -3.8 2.5 12.6 1.3 -3.2 -2.1 0.4 -2.6 40

41 Reserve position in IMF (net) -0.9 -1.5 -2.1 -1.0 -0.5 -0.7 0.4 2.7 0.1 -0.5 41

42 Currency and transferable deposits 13.0 0.4 -8.1 9.0 -14.2 4.8 27.4 -16.9 20.7 -21.7 42

43 Time and savings deposits 0.0 0.2 0.2 -0.2 -0.1 0.1 0.1 -0.7 -0.1 -0.1 43

44 Nonofficial foreign currencies -0.1 -1.0 0.1 -0.3 -0.1 0.1 1.0 0.1 0.3 0.1 44

45 Debt securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 45

46 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 46

47 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 47

48 Loans 17.8 9.7 -7.9 -9.5 -3.0 33.6 10.5 -11.9 -25.6 -5.6 48

49 Short term 15.9 9.2 -2.6 -8.4 -2.3 -1.9 -4.9 -0.0 -10.2 8.4 49

50 Consumer credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.4 6.5 50

51 Other loans and advances 15.9 9.2 -2.6 -8.4 -2.3 -1.9 -4.9 -0.0 -10.5 1.9 51

52 Long term (mortgages) 1.8 0.5 -5.3 -1.1 -0.7 35.6 15.4 -11.9 -15.4 -14.0 52

53 Equity and investment fund shares 1.5 1.5 1.2 1.3 1.2 1.3 1.5 1.4 1.1 1.4 53

54 Corporate equities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 54

55 Equity in international organizations 1.5 1.5 1.2 1.3 1.2 1.3 1.5 1.4 1.1 1.4 55

56 Equity in government-sponsored enterprises (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 56

57 Equity investment under Public-Private Inv. Program 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 57
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1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

58 Other accounts receivable -2.3 -4.0 1.8 -6.7 13.2 25.9 22.0 6.8 -10.7 -8.3 58

59 Trade receivables 3.7 -2.3 8.0 0.1 3.2 -1.7 -4.6 -6.7 -2.4 -3.8 59

60 Taxes receivable -6.0 -1.7 -6.2 -6.8 -4.3 -5.2 -7.0 -0.4 -3.1 -6.3 60

61 Other (miscellaneous assets) 0.0 0.0 0.0 0.0 14.3 32.8 33.6 13.9 -5.3 1.7 61

62 Net incurrence of liabilities 297.8 298.0 204.4 236.9 241.1 293.2 356.1 370.5 328.8 229.0 62

63 SDR allocations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 63

64 Currency and deposits 0.4 0.5 0.5 0.5 0.6 1.0 0.0 0.2 0.4 0.7 64

65 Debt securities 265.7 245.9 174.2 187.9 184.4 281.8 316.6 341.8 293.2 193.5 65

66 SDR certificates 0.1 0.3 0.0 0.0 3.5 1.5 0.0 -2.0 0.0 0.0 66

67 Treasury securities including savings bonds 225.8 215.6 142.4 137.7 144.7 238.7 292.0 303.8 248.3 155.7 67

68 Federal agency securities -0.0 0.4 1.5 17.4 1.6 8.2 -13.8 0.2 7.8 0.2 68

69 Nonmarketable securities held by pension plans 39.9 29.6 30.3 32.8 34.6 33.4 38.4 39.8 37.1 37.6 69

70 Loans (mortgages) -0.1 -0.0 -0.0 -0.0 -0.0 -0.0 0.0 -0.0 -0.0 0.0 70

71 Insurance, pension and standardized guarantee schemes 20.6 33.9 31.7 30.9 31.3 33.4 30.7 31.5 31.5 31.1 71

72 Insurance reserves 1.1 1.0 1.2 1.2 1.2 1.2 1.2 1.4 1.4 1.3 72

73 Retiree Health Care Funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 73

74 Claims of pension fund on sponsor 19.4 32.9 30.5 29.8 30.2 32.2 29.5 30.0 30.1 29.9 74

75 Other accounts payable 11.2 17.8 -1.9 17.6 24.8 -22.9 8.8 -2.9 3.6 3.6 75

76 Trade payables 10.6 14.6 7.5 8.0 8.6 -5.8 -5.5 -2.8 3.0 -0.2 76

77 Other (miscellaneous liabilities) 0.6 3.2 -9.4 9.6 16.2 -17.1 14.3 -0.1 0.7 3.9 77

 Addendum:

78 Net lending (+) or borrowing (-), financial account (lines 35-62) -266.0 -292.0 -222.4 -242.0 -231.5 -226.5 -296.2 -393.4 -342.0 -266.0 78

 Other changes in volume account

79 Total other volume changes -6.4 -21.9 -12.9 -39.1 -22.9 6.2 -1.5 -35.8 8.2 5.9 79

80 Disaster losses 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 80

81 Other volume changes 12.9 5.8 -10.0 1.9 14.3 -11.1 13.9 -1.5 21.5 10.1 81

82 Less: Statistical discrepancy (lines 33-[35-62]) (2) 19.2 27.7 2.9 41.0 37.2 -17.3 15.4 34.3 13.3 4.2 82

 Revaluation account

83 Nonfinancial assets 11.6 19.5 16.8 51.7 47.1 38.1 40.5 42.9 46.0 70.0 83

84 Structures 11.6 18.0 10.3 26.8 25.1 14.6 17.7 22.1 20.9 28.6 84

85 Equipment -7.1 -3.1 -6.0 8.4 9.2 10.9 10.7 9.7 15.4 25.3 85

86 Intellectual property products 7.1 4.5 12.4 16.5 12.8 12.6 12.1 11.1 9.6 16.1 86

87 Financial assets 2.0 2.1 2.8 -0.9 -0.5 1.5 0.2 -0.9 -0.0 1.2 87

88 Monetary gold and SDRs 0.7 0.8 1.4 -0.5 -0.2 0.8 0.1 -0.4 -0.0 0.6 88

89 Currency and deposits 1.3 1.2 1.4 -0.4 -0.3 0.7 0.1 -0.5 -0.0 0.7 89

90 Corporate equities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 90

91 Equity investment under Public-Private Inv. Program 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 91

92 Liabilities 0.6 0.6 1.0 -0.4 -0.2 0.5 0.0 -0.3 -0.0 0.4 92

93 SDR allocations 0.6 0.6 1.0 -0.4 -0.2 0.5 0.0 -0.3 -0.0 0.4 93

94 Changes in net worth due to nominal holding gains/losses 13.0 20.9 18.6 51.2 46.8 39.0 40.6 42.3 46.0 70.9 94

 Changes in balance sheet account

95 Change in net worth (lines 29+33+79+94) -202.1 -226.8 -169.3 -157.4 -144.1 -172.3 -222.6 -337.5 -269.0 -187.9 95

 Balance sheet account (end of period)

96 Total assets 1543.8 1618.8 1665.0 1738.6 1820.6 1957.9 2075.7 2109.2 2168.0 2205.5 96

97 Nonfinancial assets (3) 1170.1 1231.2 1292.8 1376.2 1450.4 1515.5 1574.9 1632.8 1684.2 1751.4 97

98 Structures 527.5 550.4 567.1 597.4 624.6 641.6 661.1 686.5 711.2 742.5 98

99 Equipment 296.4 315.6 332.1 355.9 380.8 408.2 431.9 451.3 468.1 488.1 99

100 Intellectual property products 346.2 365.2 393.6 422.9 445.1 465.8 481.9 495.1 504.9 520.7 100

101 Financial assets 373.7 387.6 372.2 362.4 370.2 442.4 500.7 476.4 483.8 454.1 101

102 Monetary gold and SDRs 7.3 8.4 10.3 9.6 10.0 11.0 11.2 8.5 9.0 10.0 102

103 Monetary gold 0.0 0.0 0.0 -0.0 0.0 0.0 -0.0 0.0 0.0 0.0 103

104 SDR holdings 7.3 8.4 10.3 9.6 10.0 11.0 11.2 8.5 9.0 10.0 104
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S.7.a Federal Government

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

105 Currency and deposits 55.0 54.8 42.7 52.3 49.7 56.1 82.0 64.6 86.1 61.8 105

106 Official foreign currencies 5.8 7.9 7.4 8.2 13.2 19.6 18.3 18.5 19.2 19.2 106

107 Reserve position in IMF (net) 12.0 11.8 11.4 9.8 9.1 9.1 9.6 11.9 11.9 12.1 107

108 Currency and transferable deposits 34.0 32.8 21.4 32.1 25.6 25.4 50.9 31.7 52.2 27.8 108

109 Time and savings deposits 1.2 1.4 1.7 1.4 1.3 1.4 1.6 0.9 0.8 0.7 109

110 Nonofficial foreign currencies 1.9 0.9 0.8 0.7 0.6 0.6 1.6 1.7 1.9 2.0 110

111 Debt securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 111

112 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 112

113 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 113

114 Loans 251.2 258.0 242.8 217.4 209.4 243.1 251.0 239.0 227.5 222.1 114

115 Short term 197.9 203.6 193.8 169.3 162.1 160.2 152.7 152.7 142.5 151.1 115

116 Consumer credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.4 6.9 116

117 Other loans and advances 197.9 203.6 193.8 169.3 162.1 160.2 152.7 152.7 142.2 144.2 117

118 Long term (mortgages) 53.3 54.4 49.1 48.0 47.3 82.9 98.3 86.4 85.0 71.0 118

119 Equity and investment fund shares 13.9 15.4 16.6 17.9 19.1 20.4 21.9 23.3 24.5 25.9 119

120 Corporate equities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 120

121 Equity in international organizations 13.9 15.4 16.6 17.9 19.1 20.4 21.9 23.3 24.5 25.9 121

122 Equity in government-sponsored enterprises (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 122

123 Equity investment under Public-Private Inv. Program 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 123

124 Other accounts receivable 46.3 51.0 59.9 65.2 82.0 111.8 134.7 140.9 136.7 134.3 124

125 Trade receivables 35.0 32.6 40.6 40.7 43.9 42.1 37.5 30.8 28.4 24.7 125

126 Taxes receivable 11.3 18.4 19.3 24.5 23.8 22.5 16.4 15.5 18.9 18.6 126

127 Other (miscellaneous assets) 0.0 0.0 0.0 0.0 14.3 47.1 80.7 94.6 89.3 91.1 127

128 Total liabilities and net worth 1543.8 1618.8 1665.0 1738.6 1820.6 1957.9 2075.7 2109.2 2168.0 2205.5 128

129 Liabilities 2594.2 2896.0 3111.6 3342.5 3568.6 3878.3 4218.6 4589.7 4917.4 5142.8 129

130 SDR allocations 5.4 6.0 7.0 6.6 6.4 7.0 7.0 6.7 6.7 7.2 130

131 Currency and deposits 13.3 13.8 14.2 14.7 15.3 16.3 16.3 16.5 17.0 17.6 131

132 Debt securities 1766.7 2012.5 2186.7 2374.6 2559.0 2840.8 3157.4 3499.1 3792.3 3985.8 132

133 SDR certificates 4.7 5.0 5.0 5.0 8.5 10.0 10.0 8.0 8.0 8.0 133

134 Treasury securities including savings bonds 1586.6 1802.2 1944.6 2082.3 2227.0 2465.8 2757.8 3061.6 3309.9 3465.6 134

135 Federal agency securities 3.2 3.6 5.1 22.6 24.2 32.4 18.6 18.8 26.6 26.7 135

136 Nonmarketable securities held by pension plans 172.1 201.7 232.0 264.7 299.3 332.6 371.0 410.8 447.9 485.5 136

137 Loans (mortgages) 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 137

138 Insurance, pension and standardized guarantee schemes 750.7 790.9 822.3 852.5 883.2 915.5 945.5 977.7 1008.9 1039.9 138

139 Insurance reserves 17.8 18.9 20.1 21.2 22.4 23.6 24.8 26.2 27.6 28.9 139

140 Retiree Health Care Funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 140

141 Claims of pension fund on sponsor 732.9 772.0 802.2 831.3 860.8 891.9 920.7 951.4 981.3 1011.0 141

142 Other accounts payable 58.2 72.8 81.4 94.0 104.6 98.7 92.5 89.6 92.5 92.3 142

143 Trade payables 58.2 72.8 80.3 88.2 96.8 91.1 85.5 82.7 85.7 85.5 143

144 Other (miscellaneous liabilities) 0.0 0.0 1.2 5.8 7.8 7.7 7.0 6.9 6.8 6.8 144

145 Net worth -1050.4 -1277.2 -1446.5 -1604.0 -1748.0 -1920.3 -2143.0 -2480.5 -2749.5 -2937.3 145

Note. The Federal government accounts exclude Federal employee retirement funds

(1) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in the fourth quarter of 2004.

(2) The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy

reflects differences in source data, timing of recorded flows, and other statistical differences between the capital and financial accounts.

(3) Excludes land and nonproduced nonfinancial assets.

IMF International Monetary Fund

SDRs Special Drawing Rights
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1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 Current account

 1 Gross value added 355.2 382.5 411.4 445.5 488.1 532.9 569.2 611.7 643.4 676.7 1

 2 Less: Consumption of fixed capital 46.9 50.3 54.1 57.8 61.9 66.7 70.9 74.1 78.3 82.9 2

 3 Equals: Net value added 308.3 332.2 357.3 387.8 426.2 466.2 498.3 537.6 565.0 593.7 3

 4 Compensation of employees (paid) 305.4 329.7 354.7 383.4 420.6 460.6 492.6 531.7 557.7 585.9 4

 5 Wages and salaries 245.7 265.2 284.7 305.9 330.0 358.7 380.0 398.5 415.3 435.5 5

 6 Employers’ social contributions 59.7 64.5 69.9 77.5 90.7 102.0 112.6 133.3 142.4 150.5 6

 7 Operating surplus, net 2.9 2.6 2.7 4.4 5.6 5.6 5.7 5.8 7.3 7.8 7

 8 Net national income/Balance of primary incomes, net 273.0 289.1 309.0 334.8 358.6 385.9 400.3 415.9 432.6 465.4 8

 9 Operating surplus, net 2.9 2.6 2.7 4.4 5.6 5.6 5.7 5.8 7.3 7.8 9

10 Taxes on production and imports, receivable 262.1 279.7 301.6 324.6 349.1 374.1 395.3 420.1 436.8 466.3 10

11 Subsidies (paid) -0.3 -0.3 -0.3 -0.4 -0.4 -0.4 -0.4 -0.4 -0.4 -0.3 11

12 Property income (received) 55.6 59.0 58.5 61.2 66.6 68.5 67.2 64.0 61.1 63.5 12

13 Interest 50.1 52.6 53.0 56.6 62.3 64.1 62.4 58.8 56.0 58.2 13

14 Distributed income of corporations (dividends) 0.2 0.2 0.2 0.2 0.2 0.2 0.3 0.5 0.6 0.8 14

15 Rents on land and natural resources 5.4 6.2 5.3 4.4 4.1 4.2 4.5 4.8 4.5 4.5 15

16 Less: Uses of property income (interest paid) 47.3 51.8 53.5 55.1 62.3 61.8 67.6 73.6 72.2 71.8 16

17 Net national income/Balance of primary incomes, net 273.0 289.1 309.0 334.8 358.6 385.9 400.3 415.9 432.6 465.4 17

18 Plus: Current taxes on income, wealth, etc. (received) 101.6 109.9 120.5 128.1 138.9 145.0 149.0 159.7 168.0 178.0 18

19 Plus: Social benefits (received) 4.9 6.0 7.2 8.4 9.0 10.0 11.6 13.1 14.1 14.5 19

20 Less: Social contributions (paid) 77.3 84.3 90.7 98.5 109.3 127.7 156.5 180.0 195.2 206.7 20

21 Plus: Other current transfers (received) 89.8 99.8 94.4 103.1 111.6 126.4 150.7 172.8 189.8 204.1 21

22 Equals: Disposable income, net 392.1 420.3 440.4 475.9 508.8 539.7 555.0 581.5 609.3 655.3 22

23 Less: Final consumption expenditures 371.8 399.9 428.3 458.9 501.3 546.2 580.1 619.0 646.5 682.2 23

24 Equals: Net saving 20.3 20.4 12.1 17.0 7.4 -6.5 -25.1 -37.5 -37.2 -27.0 24

 Capital account

25 Net saving less capital transfers 42.2 43.4 34.4 40.1 30.8 18.5 0.7 -10.6 -9.0 3.0 25

26 Net saving 20.3 20.4 12.1 17.0 7.4 -6.5 -25.1 -37.5 -37.2 -27.0 26

27 Less: Capital transfers paid (net) -22.0 -23.0 -22.3 -23.1 -23.4 -25.0 -25.8 -26.9 -28.2 -29.9 27

28 Capital formation, net 43.5 49.6 52.3 57.0 62.2 71.2 72.3 71.4 68.7 72.1 28

 Gross fixed capital formation (acquisition of

29 produced nonfinancial assets) 87.3 96.2 102.2 110.4 119.2 132.2 137.3 139.7 141.2 148.8 29

30 Less: Consumption of fixed capital 46.9 50.3 54.1 57.8 61.9 66.7 70.9 74.1 78.3 82.9 30

31 Acquisition of nonproduced nonfinancial assets 3.1 3.7 4.2 4.3 4.9 5.7 5.8 5.8 5.9 6.2 31

32 Net lending (+) or borrowing (-), capital account (lines 25-28) -1.3 -6.2 -17.9 -16.9 -31.4 -52.7 -71.6 -82.0 -77.8 -69.1 32

 Financial account

33 Net lending (+) or borrowing (-) (line 32) -1.3 -6.2 -17.9 -16.9 -31.4 -52.7 -71.6 -82.0 -77.8 -69.1 33

34 Net acquisition of financial assets 179.4 85.5 84.8 43.9 70.0 49.4 59.9 6.7 18.5 7.4 34

35 Currency and deposits 8.1 4.8 6.4 1.0 -2.4 -4.3 -4.6 -5.0 0.4 8.3 35

36 Currency and transferable deposits 1.1 2.5 -0.7 3.0 0.4 -1.3 6.5 1.2 2.0 1.8 36

37 Time and savings deposits 7.0 2.4 7.1 -2.0 -2.8 -3.0 -11.1 -6.1 -1.5 6.5 37

38 Debt securities 126.8 58.4 49.1 31.0 39.2 34.0 43.7 1.7 38.0 -57.2 38

39 Open market paper 0.0 0.0 0.2 0.5 0.9 2.4 5.0 5.2 3.7 4.4 39

40 Treasury securities 92.7 57.1 41.9 6.6 4.8 41.5 25.0 -17.4 29.6 -77.8 40

41 Agency- and GSE-backed securities (1) 30.5 -1.4 5.2 22.8 30.9 -11.6 11.7 12.2 0.1 11.6 41

42 Municipal securities 0.6 0.8 -0.2 0.1 0.5 0.8 0.0 -1.1 -1.0 -0.9 42

43 Corporate and foreign bonds 3.0 2.0 2.0 1.0 2.0 1.0 2.0 2.9 5.6 5.4 43

44 Loans 30.8 16.6 20.6 2.9 22.5 11.0 10.2 4.6 5.3 -12.9 44

45 Short term 21.0 4.8 11.9 -1.0 16.1 5.7 6.7 4.6 10.7 -15.1 45

46 Long term (mortgages) 9.8 11.8 8.7 4.0 6.3 5.3 3.5 -0.0 -5.4 2.2 46

47 Equity and investment fund shares 0.0 0.2 0.5 1.0 2.4 5.2 2.8 5.6 7.7 13.8 47

48 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.8 4.1 48

49 Corporate equities 0.0 0.2 0.5 0.9 1.1 1.8 0.0 1.0 0.8 1.5 49

50 Mutual fund shares 0.0 0.0 0.0 0.1 1.4 3.5 2.8 4.6 5.1 8.2 50

51 Other accounts receivable 13.8 5.4 8.1 7.9 8.3 3.4 7.8 -0.3 -32.9 55.4 51

52 Trade receivables 3.8 0.9 3.8 4.8 3.5 2.4 2.4 3.1 3.6 5.4 52

53 Taxes receivable 4.0 2.7 0.5 3.6 3.5 -0.5 1.8 -0.1 -2.7 1.3 53

54 Other (miscellaneous assets) 6.0 1.7 3.9 -0.5 1.4 1.5 3.6 -3.3 -33.8 48.7 54
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1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

55 Net incurrence of liabilities 162.4 62.5 82.7 70.6 74.5 82.0 130.8 59.7 104.2 8.2 55

56 Debt securities (municipals) 155.4 72.8 92.8 53.7 47.6 46.2 90.8 16.6 58.7 -45.9 56

57 Short term 2.2 -0.1 -0.8 2.0 3.3 2.9 6.9 -1.1 1.8 -2.2 57

58 Other 153.2 72.9 93.6 51.7 44.3 43.2 83.9 17.7 56.9 -43.8 58

59 Loans (short term) 8.2 1.4 -2.4 -3.3 -0.2 0.9 0.4 -0.1 -0.7 0.4 59

60 Insurance, pension and standardized guarantee schemes -10.0 -21.2 -17.8 9.4 15.3 22.0 26.0 28.9 31.3 37.8 60

 (Claim of pension funds on sponsor)

61 Other accounts payable (trade payables) 8.7 9.5 10.1 10.8 11.8 12.9 13.7 14.3 15.0 16.0 61

 Addendum:

62 Net lending (+) or borrowing (-), financial account (lines 34-55) 17.1 23.0 2.1 -26.7 -4.5 -32.6 -70.9 -53.0 -85.7 -0.8 62

 Other changes in volume account

63 Total other volume changes 20.8 32.5 9.2 16.5 2.2 1.1 68.7 -65.4 41.8 53.3 63

64 Disaster losses 0.0 0.0 0.0 0.0 1.0 0.0 0.0 0.0 0.0 2.0 64

65 Other volume changes 2.5 3.4 -10.7 26.3 -25.7 -19.0 68.0 -94.4 49.8 -17.0 65

66 Less: Statistical discrepancy (lines 32-[34-55]) (2) -18.4 -29.1 -19.9 9.8 -26.9 -20.0 -0.7 -29.0 8.0 -68.3 66

 Revaluation account

67 Nonfinancial assets 44.5 82.1 73.5 52.2 68.9 60.8 13.2 52.3 77.4 117.4 67

68 Structures 43.0 80.1 72.5 48.8 65.9 57.0 10.8 50.4 75.3 115.1 68

69 Equipment 1.2 1.8 0.5 2.5 2.1 2.9 1.9 1.4 1.5 1.3 69

70 Intellectual property products 0.3 0.3 0.6 0.9 0.8 0.8 0.5 0.5 0.6 1.0 70

71 Equity and investment fund shares 0.0 0.0 -0.1 0.1 0.6 -0.4 3.2 1.4 2.1 -0.6 71

72 Changes in net worth due to nominal holding gains/losses 44.5 82.1 73.5 52.3 69.4 60.4 16.4 53.7 79.5 116.8 72

 Changes in balance sheet account

73 Change in net worth (lines 28+32+63+72) 107.6 158.1 117.0 108.8 102.4 80.0 85.8 -22.3 112.3 173.1 73

 Balance sheet account (end of period)

74 Total assets 2621.5 2835.0 3041.4 3190.2 3385.9 3561.1 3703.9 3829.9 3990.8 4178.9 74

75 Nonfinancial assets (3) 1935.4 2063.4 2185.0 2289.8 2415.0 2541.3 2621.0 2738.9 2879.2 3060.5 75

76 Structures 1852.0 1971.3 2085.3 2179.7 2292.4 2404.7 2473.8 2582.3 2713.7 2884.5 76

77 Equipment 65.9 73.1 78.6 86.3 95.5 106.0 113.4 119.9 126.1 134.1 77

78 Intellectual property products 17.4 19.1 21.2 23.9 27.2 30.6 33.7 36.7 39.4 41.9 78

79 Financial assets 686.2 771.7 856.4 900.3 970.9 1019.8 1082.9 1091.0 1111.6 1118.4 79

80 Currency and deposits 80.7 85.5 91.9 98.2 95.8 91.5 86.9 81.9 82.4 90.7 80

81 Currency and transferable deposits 14.8 17.3 16.5 24.9 25.2 24.0 30.4 31.6 33.6 35.3 81

82 Time and savings deposits 65.9 68.2 75.3 73.4 70.6 67.5 56.5 50.3 48.8 55.3 82

83 Debt securities 381.4 439.8 488.9 519.9 559.1 593.1 636.9 638.6 676.6 619.4 83

84 Open market paper 0.0 0.0 0.2 0.7 1.6 4.0 9.0 14.1 17.9 22.3 84

85 Treasury securities 258.7 315.7 357.6 364.3 369.1 410.6 435.5 418.2 447.8 370.0 85

86 Agency- and GSE-backed securities (1) 105.1 103.7 108.9 131.7 162.6 151.0 162.7 174.9 175.0 186.6 86

87 Municipal securities 9.6 10.4 10.2 10.3 10.8 11.6 11.6 10.5 9.5 8.6 87

88 Corporate and foreign bonds 8.0 10.0 12.0 13.0 15.0 16.0 18.0 20.9 26.5 31.9 88

89 Loans 148.3 165.0 185.6 188.5 211.0 222.0 232.2 236.7 242.0 229.1 89

90 Short term 74.1 79.0 90.9 89.9 106.0 111.8 118.4 123.1 133.7 118.6 90

91 Long term (mortgages) 74.2 86.0 94.7 98.6 105.0 110.2 113.7 113.7 108.3 110.5 91

92 Equity and investment fund shares 0.0 0.2 0.7 1.8 4.8 9.6 15.6 22.6 32.4 45.5 92

93 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.8 5.9 93

94 Corporate equities 0.0 0.2 0.7 1.7 3.3 4.8 6.3 7.8 9.3 10.6 94

95 Mutual fund shares 0.0 0.0 0.0 0.1 1.5 4.8 9.4 14.9 21.3 29.1 95

96 Other accounts receivable 75.8 81.1 89.3 91.8 100.2 103.6 111.4 111.1 78.2 133.6 96

97 Trade receivables 41.3 42.2 46.0 50.8 54.2 56.7 59.1 62.2 65.8 71.2 97

98 Taxes receivable 26.8 29.5 30.0 33.7 37.1 36.6 38.4 38.3 36.0 37.5 98

99 Other (miscellaneous assets) 7.7 9.4 13.3 7.4 8.8 10.3 13.9 10.6 -23.6 24.9 99

100 Total liabilities and net worth 2621.5 2835.0 3041.4 3190.2 3385.9 3561.1 3703.9 3829.9 3990.8 4178.9 100

101 Liabilities 825.7 881.2 970.5 1010.5 1103.8 1199.0 1256.0 1404.3 1452.8 1467.8 101
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1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

102 Debt securities (municipals) 651.1 724.9 817.7 884.0 931.6 977.8 1068.6 1085.2 1143.9 1097.9 102

103 Short term 20.5 20.4 19.6 21.5 24.8 27.8 34.7 33.6 35.4 33.2 103

104 Other 630.6 704.5 798.1 862.5 906.8 950.0 1033.9 1051.6 1108.5 1064.7 104

105 Loans (short term) 26.8 27.3 24.9 9.0 8.8 9.6 10.0 9.9 9.2 9.6 105

106 Insurance, pension and standardized guarantee schemes 49.6 21.3 10.1 -11.1 23.0 58.3 10.4 127.8 103.5 148.0 106

 (Claim of pension funds on sponsor)

107 Other accounts payable (trade payables) 98.2 107.7 117.8 128.6 140.4 153.3 167.0 181.3 196.3 212.3 107

108 Net worth 1795.8 1953.9 2070.9 2179.7 2282.2 2362.1 2448.0 2425.7 2538.0 2711.1 108

Note. The state and local government accounts exclude state and local employee retirement funds

(1) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in the fourth quarter of 2004.

(2) The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy

reflects differences in source data, timing of recorded flows, and other statistical differences between the capital and financial accounts.

(3) Excludes land and nonproduced nonfinancial assets.
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Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 Current account

 1 Foreign income from U.S. 530.2 575.0 641.3 712.4 774.3 815.6 755.4 830.7 888.9 1020.2 1

 2 U.S. imports of goods and services 417.2 452.9 508.7 554.0 591.0 629.7 623.5 667.8 720.0 813.4 2

 3 U.S. income payments to rest of world 87.3 94.4 105.8 129.5 152.9 154.2 136.8 121.0 123.6 160.7 3

 4 Current taxes and trans. payments to rest of world 25.7 27.8 26.8 29.0 30.4 31.7 -4.9 41.9 45.4 46.1 4

 5 Less: Foreign outlays to U.S. 415.9 432.3 487.2 596.7 682.0 740.7 763.3 785.1 810.4 905.5 5

 6 U.S. exports of goods and services 303.2 321.0 363.9 444.6 504.3 551.9 594.9 633.0 654.8 720.9 6

 7 U.S. income receipts from rest of world 112.7 111.3 123.3 152.1 177.7 188.8 168.4 152.1 155.6 184.5 7

 8 Equals: Net saving (current external balance) 114.3 142.7 154.1 115.7 92.4 74.9 -7.9 45.6 78.6 114.7 8

 Capital account

 9 Net saving 114.3 142.7 154.1 115.7 92.4 74.9 -7.9 45.6 78.6 114.7 9

10 Less: Net capital transfers -0.1 -0.1 -0.1 -0.1 -0.3 -7.4 -5.3 1.3 -0.8 -1.2 10

11 Less: Acquisition of nonproduced nonfinancial assets 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -0.0 -0.0 -0.0 11

12 Net lending (+) or borrowing (-), capital account (lines 9-10-11) 114.5 142.8 154.2 115.9 92.7 82.3 -2.6 44.3 79.4 116.0 12

 Financial account

13 Net lending (+) or borrowing (-) (line 12) 114.5 142.8 154.2 115.9 92.7 82.3 -2.6 44.3 79.4 116.0 13

14 Net acquisition of U.S. financial assets 122.8 168.8 211.0 191.7 189.8 156.3 93.9 201.7 318.4 302.7 14

15 Monetary gold and SDRs 0.0 0.0 0.0 0.0 -0.0 0.0 0.0 0.0 0.0 0.0 15

16 Monetary gold 0.0 0.0 0.0 0.0 -0.0 0.0 0.0 0.0 0.0 0.0 16

17 SDR allocations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

18 Currency and deposits 25.2 17.1 54.5 11.1 -0.4 40.8 -3.0 53.0 71.1 124.5 18

19 Currency 3.3 2.4 3.9 4.1 3.7 16.6 12.8 11.1 16.6 20.6 19

20 Transferable deposits 1.5 2.7 -1.4 -0.5 0.2 -0.3 -1.4 1.5 -0.3 1.8 20

21 Time deposits 3.2 -2.5 0.9 3.4 4.7 -0.7 -0.2 -4.1 6.8 1.5 21

22 Net interbank items due from U.S. banks 17.1 14.4 51.2 4.2 -9.0 25.2 -14.2 44.5 47.9 100.6 22

23 Debt securities 60.1 84.1 60.4 86.4 60.5 37.3 62.9 92.3 145.1 130.7 23

24 Open market paper -0.2 -0.1 1.0 2.8 2.4 -2.0 0.6 1.6 5.9 6.0 24

25 Treasury securities 19.6 38.2 35.6 62.0 29.8 27.0 33.7 55.6 73.3 65.0 25

26 Agency- and GSE-backed securities (1) 4.3 7.0 5.0 6.7 15.1 6.3 10.2 18.3 35.4 21.7 26

27 Municipal securities 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 27

28 Corporate bonds 36.1 38.9 18.6 14.7 13.1 5.8 18.2 16.6 30.2 37.8 28

29 Loans (short term) 8.1 24.9 2.7 21.8 32.4 46.6 -46.2 25.7 1.1 -10.4 29

30 Security repurchases (net) 0.8 3.4 2.2 -0.1 10.1 -3.4 1.2 20.9 16.9 -12.0 30

31 Loans to U.S. corporate business 7.4 21.6 0.5 21.9 22.4 50.1 -47.3 4.9 -15.8 1.6 31

32 Security credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 32

33 Equity and investment fund shares 24.2 53.3 73.5 54.9 77.3 32.5 33.6 14.2 72.3 47.0 33

34 Money market fund shares 0.0 0.0 0.0 0.0 0.4 0.8 0.8 0.8 0.8 0.8 34

35 Corporate equities 4.4 17.9 15.0 -2.9 8.6 -16.7 3.8 -17.5 10.4 -11.5 35

36 Mutual fund shares 0.0 0.0 0.0 0.0 0.0 0.0 5.9 11.1 9.8 11.6 36

37 Foreign direct investment in the United States 19.7 35.4 58.5 57.7 68.3 48.5 23.2 19.8 51.4 46.1 37

38 Other accounts receivable 5.3 -10.6 19.8 17.4 20.0 -1.0 46.7 16.5 28.8 10.8 38

39 Trade receivables 0.2 1.4 0.1 2.1 2.6 6.3 -1.8 1.7 1.0 1.5 39

40 Other (miscellaneous assets) 5.0 -12.1 19.7 15.3 17.4 -7.3 48.4 14.8 27.8 9.3 40

41 Net incurrence of liabilities 23.3 52.2 43.2 53.4 142.7 105.4 55.2 106.3 239.9 179.5 41

42 SDR holdings 0.9 0.2 0.5 -0.1 0.5 0.2 0.2 -2.3 0.5 0.4 42

43 Currency and deposits 9.9 26.1 -1.0 18.4 53.7 30.0 -31.4 -5.0 -17.3 47.2 43

44 Official foreign currencies 3.9 0.9 -7.6 5.1 25.2 2.7 -6.3 -4.3 0.8 -5.3 44

45 Reserve position in IMF (net) -0.9 -1.5 -2.1 -1.0 -0.5 -0.7 0.4 2.7 0.0 -0.5 45

46 U.S. private deposits 7.1 27.6 8.6 14.7 29.1 27.9 -26.5 -3.4 -18.5 52.9 46

47 Nonofficial foreign currencies -0.1 -1.0 0.1 -0.3 -0.1 0.1 1.0 0.1 0.3 0.1 47

48 Debt securities 10.0 14.6 11.2 15.6 17.9 33.7 21.8 22.4 73.3 -11.2 48

49 Commercial paper 6.2 11.5 3.8 8.7 13.1 12.3 6.8 5.6 -9.6 -26.1 49

50 Bonds 3.8 3.1 7.4 6.9 4.9 21.4 15.0 16.8 82.9 14.9 50

51 Loans (short term) -8.8 -4.9 -5.0 -8.2 -7.8 -9.8 -6.6 1.7 -3.5 -0.0 51

52 Other loans and advances -6.0 -3.9 -1.4 -6.4 -7.6 -7.0 -9.8 -0.6 -4.2 -1.4 52

53 Depository institution loans n.e.c. -2.8 -1.0 -3.6 -1.8 -0.1 -2.9 3.1 2.3 0.7 1.4 53

54 Security debt 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 54

55 Nonoff. foreign currencies (swap lines) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 55
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1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

56 Equity and investment fund shares 20.6 20.5 26.9 16.8 55.4 41.1 77.0 72.5 150.8 137.5 56

57 Corporate equities 3.7 1.2 -2.1 1.1 17.2 7.4 30.7 32.4 63.4 48.1 57

58 U.S. government equity in IBRD, etc. 1.5 1.5 1.2 1.3 1.2 1.3 1.5 1.4 1.1 1.4 58

59 U.S. direct investment abroad 14.8 19.1 31.2 16.1 38.8 32.8 39.1 44.5 84.0 80.2 59

60 Investment by holding companies 0.5 -1.3 -3.5 -1.7 -1.8 -0.4 5.7 -5.8 2.3 7.8 60

61 Other accounts payable -9.3 -4.3 10.5 10.9 22.8 10.2 -5.6 17.0 36.1 5.6 61

62 Trade payables -0.2 -0.8 2.5 7.7 2.8 -1.2 3.1 1.4 4.1 3.6 62

63 Other (miscellaneous liabilities) -9.1 -3.5 8.0 3.2 20.0 11.4 -8.7 15.6 32.1 1.9 63

 Addendum:

64 Net lending, financial account (lines 14-41) 99.5 116.6 167.8 138.3 47.2 50.9 38.7 95.4 78.5 123.1 64

 Other changes in volume account

65 Total other volume changes -14.4 -24.1 35.8 -21.6 -47.2 -17.4 47.7 48.3 -17.8 23.1 65

66 Other volume changes 0.5 2.1 22.3 -43.9 -1.7 14.0 6.4 -2.8 -16.9 16.0 66

67 Less: Statistical discrepancy (lines 12-[14-41]) (2) 15.0 26.2 -13.6 -22.4 45.5 31.4 -41.3 -51.1 0.9 -7.1 67

 Revaluation account

68 Financial assets 42.0 41.8 -27.6 30.6 96.8 -48.2 62.0 -1.3 7.9 -68.6 68

69 SDR allocations 0.6 0.6 1.0 -0.4 -0.2 0.5 0.0 -0.3 -0.0 0.4 69

70 Debt securities 12.1 10.7 -10.7 -5.8 45.4 -21.4 12.3 -23.7 -17.4 -70.9 70

71 Treasury securities 6.5 4.8 -8.7 -4.4 40.1 -12.4 4.3 -11.5 0.9 -27.0 71

72 Agency- and GSE-backed securities 1.2 0.5 -1.7 -0.9 -2.1 -4.1 -1.1 -5.5 -3.5 -18.1 72

73 Corporate bonds 4.5 5.3 -0.3 -0.5 7.3 -4.9 9.2 -6.7 -14.7 -25.8 73

74 Equity and investment fund shares 29.2 30.5 -17.8 36.8 51.6 -27.4 49.6 22.7 25.3 1.9 74

75 Corporate equities 25.3 28.5 -9.2 27.3 53.7 -16.4 44.8 35.1 21.8 23.3 75

76 Mutual fund shares 0.0 0.0 0.0 0.0 0.0 0.0 -0.1 0.5 1.8 0.0 76

77 Foreign direct investment in the United States 3.9 2.1 -8.6 9.5 -2.2 -11.0 4.9 -13.0 1.7 -21.5 77

78 Liabilities 32.3 54.5 94.1 48.6 65.8 35.3 55.6 -22.5 180.7 58.9 78

79 SDR holdings 0.8 0.9 1.4 -0.5 -0.2 0.8 0.1 -0.4 -0.0 0.6 79

80 Currency and deposits 5.0 8.6 29.6 -0.3 10.7 8.8 2.2 -4.5 23.3 54.9 80

81 Official foreign currencies 2.3 3.5 3.4 -0.8 2.0 4.9 0.0 -1.7 0.7 5.0 81

82 Reserve position in IMF (net) 1.3 1.3 1.7 -0.6 -0.2 0.8 0.0 -0.4 0.0 0.7 82

83 U.S. private deposits 1.4 3.8 24.8 0.8 9.0 3.2 2.1 -2.4 22.6 49.2 83

84 Nonofficial foreign currencies -0.0 -0.0 -0.3 0.2 -0.0 -0.1 0.0 -0.0 -0.0 -0.0 84

85 Debt securities (corporate bonds) 8.4 7.6 0.8 3.4 7.9 6.4 17.0 7.3 26.0 -14.2 85

86 Equity and investment fund shares 18.2 37.4 62.3 46.0 47.4 19.2 36.2 -24.9 131.4 17.7 86

87 Corporate equities 14.7 26.9 24.4 32.9 51.5 -7.2 50.7 2.9 166.2 34.8 87

88 U.S. direct investment abroad 3.5 10.6 37.9 13.2 -4.1 26.4 -11.2 -27.8 -34.8 -17.1 88

89 Changes in net worth due to nominal holding gains/losses 9.6 -12.6 -121.7 -18.0 31.0 -83.5 6.4 21.3 -172.8 -127.6 89

 Changes in balance sheet account

90 Change in net worth (lines 12+65+89) 109.6 106.1 68.4 76.3 76.5 -18.6 51.5 113.9 -111.2 11.6 90

 Financial balance sheet account (end of period) (3)

91 Total financial assets 973.5 1186.9 1361.5 1587.6 1874.3 1983.9 2138.5 2301.4 2624.9 2872.3 91

92 SDR allocations 5.4 6.0 7.0 6.6 6.4 7.0 7.0 6.7 6.7 7.2 92

93 Currency and deposits 73.9 90.9 135.3 146.4 145.7 186.5 183.4 232.3 303.4 427.9 93

94 Currency 33.3 35.7 39.5 43.7 47.4 64.0 76.8 87.9 104.5 125.1 94

95 Transferable deposits 21.2 23.9 22.5 21.9 22.1 21.8 20.4 21.9 21.6 23.5 95

96 Time deposits 33.7 31.3 32.1 35.5 40.2 39.5 39.3 38.2 45.1 46.6 96

97 Net interbank items due from U.S. banks -14.3 0.1 41.1 45.3 35.9 61.2 46.9 84.3 132.2 232.8 97

98 Debt securities 363.9 458.7 508.5 589.1 693.4 709.3 784.5 853.2 980.8 1040.7 98

99 Open market paper 8.2 8.0 9.0 11.8 12.7 10.7 11.3 12.9 18.8 24.9 99

100 Treasury securities 226.4 269.4 296.3 353.8 423.7 438.4 476.3 520.3 594.6 632.6 100

101 Agency- and GSE-backed securities (1) 17.5 25.0 28.3 34.2 47.2 49.4 58.5 71.4 103.2 106.8 101

102 Municipal securities 1.2 1.4 1.6 1.8 2.0 2.2 2.4 2.6 2.8 3.0 102

103 Corporate bonds 110.7 154.9 173.2 187.4 207.8 208.7 236.0 246.0 261.4 273.5 103
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1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

104 Loans (short term) 63.5 88.5 91.2 113.0 145.5 192.1 145.9 171.7 172.8 168.7 104

105 Security repurchases (net) 7.5 10.9 13.1 13.0 23.1 19.7 20.9 41.7 58.6 46.6 105

106 Loans to U.S. corporate business 56.0 77.6 78.1 100.0 122.3 172.4 125.1 129.9 114.2 122.1 106

107 Security credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 107

108 Equity and investment fund shares 384.0 467.9 523.6 615.2 744.0 749.1 832.4 869.3 966.8 1015.7 108

109 Money market fund shares 0.0 0.0 0.0 0.0 0.4 1.2 2.0 2.7 3.5 4.3 109

110 Corporate equities 136.8 183.2 189.0 213.4 275.7 242.6 291.2 308.8 341.0 352.8 110

111 Mutual fund shares 0.0 0.0 0.0 0.0 0.0 0.0 5.8 17.4 29.0 40.6 111

112 Foreign direct investment in the United States 247.2 284.7 334.6 401.8 467.9 505.3 533.4 540.3 593.3 618.0 112

113 Other accounts receivable 82.8 74.9 96.1 117.4 139.3 139.9 185.2 168.3 194.3 212.2 113

114 Trade receivables 33.6 35.0 35.1 37.2 39.8 46.1 44.4 46.0 47.0 48.6 114

115 Other (miscellaneous assets) 49.2 39.9 61.0 80.2 99.4 93.8 140.9 122.3 147.3 163.6 115

116 Total liabilities and net worth 973.5 1186.9 1361.5 1587.6 1874.3 1983.9 2138.5 2301.4 2624.9 2872.3 116

117 Total liabilities 949.4 1056.7 1162.9 1312.8 1522.9 1651.2 1754.2 1803.3 2237.9 2473.7 117

118 SDR holdings 7.3 8.4 10.3 9.6 10.0 11.0 11.2 8.5 9.0 10.0 118

119 Currency and deposits 175.2 209.9 238.5 256.6 321.0 359.8 330.6 321.1 327.1 429.2 119

120 Official foreign currencies 12.9 17.3 13.1 17.4 44.6 52.2 45.9 40.0 41.5 41.2 120

121 Reserve position in IMF (net) 12.0 11.7 11.3 9.7 9.0 9.1 9.5 11.8 11.8 12.0 121

122 U.S. private deposits 148.5 179.9 213.3 228.7 266.8 297.9 273.5 267.7 271.8 373.9 122

123 Nonofficial foreign currencies 1.9 0.9 0.8 0.7 0.6 0.6 1.6 1.7 1.9 2.0 123

124 Debt securities 108.9 123.1 135.1 154.1 180.0 220.1 258.9 279.2 378.5 353.1 124

125 Commercial paper 33.9 37.4 41.2 49.9 63.0 75.3 82.1 78.4 68.8 42.7 125

126 Bonds 75.0 85.7 93.9 104.2 116.9 144.7 176.8 200.8 309.7 310.4 126

127 Loans (short term) 133.6 128.7 123.9 115.6 107.9 98.2 91.5 93.2 89.8 90.0 127

128 Other loans and advances 105.6 101.8 100.6 94.1 86.5 79.7 69.9 69.3 65.2 63.9 128

129 Depository institution loans n.e.c. 27.9 26.9 23.3 21.5 21.4 18.5 21.6 23.9 24.6 26.1 129

130 Security debt 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 130

131 Nonoff. foreign currencies (swap lines) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 131

132 Equity and investment fund shares 482.7 540.6 629.7 692.6 795.4 855.6 968.9 1016.4 1298.6 1453.8 132

133 Corporate equities 44.4 72.4 94.7 128.7 197.3 197.6 279.0 314.3 543.9 626.8 133

134 U.S. government equity in IBRD, etc. 13.9 15.4 16.6 17.9 19.1 20.4 21.9 23.3 24.5 25.9 134

135 U.S. direct investment abroad 407.8 437.5 506.6 535.9 570.7 629.8 657.7 674.4 723.5 786.6 135

136 Investment by holding companies 16.6 15.3 11.8 10.1 8.3 7.9 10.3 4.5 6.8 14.6 136

137 Other accounts payable 41.7 46.0 25.4 84.2 108.7 106.5 93.1 84.7 134.9 137.6 137

138 Trade payables 17.5 16.8 19.3 27.0 29.8 28.6 31.6 33.0 37.1 40.8 138

139 Other (miscellaneous liabilities) 24.2 29.2 6.1 57.2 78.9 77.9 61.5 51.7 97.8 96.8 139

140 Net worth (external account) 24.1 130.2 198.6 274.9 351.4 332.8 384.3 498.2 387.0 398.6 140

(1) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in the fourth quarter of 2004.

(2) The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy

reflects differences in source data, timing of recorded flows, and other statistical differences between the capital and financial accounts.

(3) Excludes nonfinancial assets, including nonproduced nonfinancial assets.

IBRD International Bank for Reconstruction and Development

IMF International Monetary Fund

SDRs Special Drawing Rights

n.e.c. Not elsewhere classified