Summary

1

Z.1, September 25, 2013 Flow of Funds Matrix for 2012

(Billions of dollars; All Sectors -- Flows)

Households State Domestic Domestic Instrument

and Nonprofit Nonfinancial and Local Federal Nonfinancial Financial Rest of All DiscrepOrganizations Business Governments Government Sectors Sectors the World Sectors ancy

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

(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11) (12) (13) (14) (15) (16) (17)

 1 Gross saving less net cap. transfers -- 2224.5 -- 2119.8 -- 52.8 -- -930.5 -- 3466.5 -- 331.2 -- 432.4 -- 4230.1 --  2 Capital consumption -- 1373.0 -- 1451.1 -- 231.4 -- 262.3 -- 3317.7 -- 188.3 -- -- -- 3506.0 --  3 Net saving (1 less 2) -- 851.5 -- 668.7 -- -178.6 -- -1192.8 -- 148.8 -- 142.9 -- 432.4 -- 724.2 --  4 Gross investment (5 plus 11) 2537.2 -- 1967.6 -- 91.7 -- -845.8 -- 3750.7 -- 256.9 -- 446.3 -- 4453.9 -- -223.8 5 Capital expenditures 1613.2 -- 1777.9 -- 345.1 -- 282.7 -- 4019.0 -- 198.7 -- 0.0 -- 4217.7 -- 12.4 6 Consumer durables 1123.5 -- -- -- -- -- -- -- 1123.5 -- -- -- -- -- 1123.5 -- --  7 Residential 354.3 -- 79.5 -- 5.3 -- 0.9 -- 440.1 -- 5.3 -- -- -- 445.4 -- --  8 Nonresidential 143.8 -- 1632.8 -- 329.6 -- 283.1 -- 2389.3 -- 193.4 -- -- -- 2582.7 -- --  9 Inventory change -- -- 66.1 -- -- -- -- -- 66.1 -- -- -- -- -- 66.1 -- -- 10 Nonproduced nonfinancial assets -8.4 -- -0.4 -- 10.2 -- -1.4 -- 0.0 -- -- -- 0.0 -- -- -- -- 11 Net lending (+) or net borrowing (-) 924.0 -- 189.7 -- -253.4 -- -1128.5 -- -268.3 -- 58.2 -- 446.3 -- 236.2 -- -236.212 Total financial assets 1018.4 -- 957.3 -- -52.6 -- 114.0 -- 2037.1 -- 1807.9 -- 876.4 -- 4721.5 -- -- 13 Total liabilities -- 94.4 -- 767.6 -- 200.8 -- 1242.5 -- 2305.4 -- 1749.7 -- 430.1 -- 4485.2 -- 14 U.S. official reserve assets -- -- -- -- -- -- 4.3 0.0 4.3 0.0 0.2 -- 0.0 4.5 4.5 4.5 -- 15 SDR certificates -- -- -- -- -- -- -- 0.0 -- 0.0 0.0 -- -- -- 0.0 0.0 -- 16 Treasury currency -- -- -- -- -- -- -- 0.0 -- 0.0 0.6 -- -- -- 0.6 0.0 -0.617 Foreign deposits -1.8 -- -21.5 -- -- -- -- -- -23.3 -- 0.4 -- -- -30.2 -22.9 -30.2 -7.318 Interbank claims -- -- -- -- -- -- -- -- -- -- -64.1 -208.8 -151.3 -- -215.4 -208.8 6.619 Checkable dep. and currency 82.0 -- 108.0 -- -8.9 -- 6.7 -- 187.7 -- 11.3 268.5 68.2 -- 267.2 268.5 1.320 Time and savings deposits 409.6 -- 26.2 -- 20.3 -- 0.2 -- 456.2 -- 13.4 516.1 46.4 -- 516.1 516.1 -- 21 Money market fund shares -8.9 -- -3.2 -- -8.5 -- -- -- -20.5 -- -7.4 7.1 35.0 -- 7.1 7.1 -- 22 Fed. funds and security RPs -- -- -2.2 -- -6.7 -- -- -- -8.9 -- 96.2 -14.0 -39.9 -- 47.4 -14.0 -61.423 Credit market instruments -8.5 27.4 10.7 718.1 -66.1 -5.3 102.3 1140.2 38.4 1880.5 1111.1 -394.0 452.0 115.0 1601.5 1601.5 -- 24 Open market paper -0.3 -- -7.6 14.0 -5.1 -- -- -- -13.0 14.0 -7.3 -58.8 3.4 27.9 -16.9 -16.9 -- 25 Treasury securities 270.1 -- 7.8 -- -11.8 -- -- 1140.6 266.1 1140.6 284.9 -- 589.5 -- 1140.6 1140.6 -- 26 Agency- and GSE-backed sec. -141.9 -- -2.6 -- -28.2 -- -31.1 -0.4 -203.8 -0.4 252.8 -22.4 -71.8 -- -22.8 -22.8 -- 27 Municipal securities -149.8 -14.5 12.3 15.2 -0.7 -5.7 -- -- -138.2 -4.9 138.2 -- -4.9 -- -4.9 -4.9 -- 28 Corporate and fgn. bonds 41.3 -- -- 579.6 -9.0 -- -0.2 -- 32.1 579.6 416.2 -207.9 -14.4 62.2 433.9 433.9 -- 29 Depository inst. loans n.e.c. -- 111.5 -- 166.1 -- -- -- -- -- 277.6 172.9 -124.0 -- 19.2 172.9 172.9 -- 30 Other loans and advances -2.5 1.2 -- -20.9 -- 0.4 2.5 -- 0.0 -19.3 39.7 3.5 -49.9 5.7 -10.2 -10.2 -- 31 Mortgages -20.4 -240.0 0.7 -35.8 -11.2 -- 1.7 0.0 -29.3 -275.8 -230.9 15.6 -- -- -260.2 -260.2 -- 32 Consumer credit -4.9 169.1 0.0 -- -- -- 129.4 -- 124.5 169.1 44.6 -- -- -- 169.1 169.1 -- 33 Corporate equities -363.0 -- -- -400.0 -4.8 -- -13.2 -- -381.0 -400.0 165.7 155.1 53.1 82.6 -162.3 -162.3 -- 34 Mutual fund shares 419.2 -- -1.6 -- -2.5 -- -- -- 415.1 -- 66.5 625.7 144.0 -- 625.7 625.7 -- 35 Trade credit -- 1.5 95.9 123.2 8.5 39.1 2.9 8.3 107.3 172.2 -1.6 -0.0 11.5 6.3 117.2 178.5 61.336 Security credit 23.6 64.9 -- -- -- -- -- -- 23.6 64.9 165.2 124.0 0.0 0.0 188.9 188.9 -- 37 Life insurance reserves -26.3 -- -- -- -- -- -- 0.3 -26.3 0.3 14.7 -11.9 -- -- -11.6 -11.6 -- 38 Pension entitlements 497.1 -- -- -- -- -- -- -- 497.1 -- -- 497.1 -- -- 497.1 497.1 -- 39 Taxes payable -- -- -- 6.6 1.3 -- 11.9 -- 13.2 6.6 -- 6.5 -- -- 13.2 13.1 -0.140 Equity in noncorp. business 1.1 -- -- -5.3 -- -- -- -- 1.1 -5.3 -- 6.5 -- -- 1.1 1.1 -- 41 Miscellaneous -5.8 0.6 745.1 325.0 14.9 167.0 -1.0 93.7 753.1 586.2 235.7 171.9 257.5 252.0 1246.3 1010.2 -236.142 Sector discrepancies (1 less 4) -312.7 -- 152.2 -- -39.0 -- -84.7 -- -284.2 -- 74.3 -- -13.9 -- -223.8 -- -223.8General notes: U = use of funds; S = source of funds. Domestic nonfinancial sectors (columns 9 and 10) are households and nonprofit organizations, nonfinancial business, state and local governments, and federal government.
Summary

2

Z.1, September 25, 2013 Flow of Funds Matrix for 2012

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

Households State Domestic Domestic Instrument

and Nonprofit Nonfinancial and Local Federal Nonfinancial Financial Rest of All DiscrepOrganizations Business Governments Government Sectors Sectors the World Sectors ancy

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

(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11) (12) (13) (14) (15) (16) (17)

 1 Total financial assets 59304.6 -- 19314.0 -- 2650.4 -- 1505.9 -- 82774.9 -- 73952.2 -- 20489.7 -- 177216.7 -- -9707.9 2 Total liabilities and equity -- 13598.0 -- 44078.3 -- 5214.0 -- 15238.9 -- 78129.3 -- 74743.9 -- 16123.2 -- 168996.4 --  3 Total liabilities -- 13598.0 -- 19791.8 -- 5214.0 -- 15238.9 -- 53842.8 -- 69789.4 -- 10732.6 -- 134364.8 --  4 U.S. official reserve assets -- -- -- -- -- -- 102.8 54.3 102.8 54.3 35.8 -- 54.3 127.5 192.8 181.8 -11.0 5 SDR certificates -- -- -- -- -- -- -- 5.2 -- 5.2 5.2 -- -- -- 5.2 5.2 --  6 Treasury currency -- -- -- -- -- -- -- 25.9 -- 25.9 44.8 -- -- -- 44.8 25.9 -18.8 7 Foreign deposits 45.1 -- 13.3 -- -- -- -- -- 58.4 -- 43.3 -- -- 750.1 101.7 750.1 648.4 8 Interbank claims -- -- -- -- -- -- -- -- -- -- 1561.7 1831.4 215.7 -- 1777.4 1831.4 54.0 9 Checkable dep. and currency 820.8 -- 906.4 -- 117.7 -- 92.0 -- 1936.9 -- 373.5 2857.8 540.4 -- 2850.8 2857.8 7.010 Time and savings deposits 7114.3 -- 949.5 -- 289.8 -- 2.0 -- 8355.6 -- 630.4 9312.4 326.4 -- 9312.4 9312.4 -- 11 Money market fund shares 1017.6 -- 536.9 -- 140.7 -- -- -- 1695.2 -- 839.9 2649.6 114.5 -- 2649.6 2649.6 -- 12 Fed. funds and security RPs -- -- 10.4 -- 111.0 -- -- -- 121.3 -- 985.3 1122.9 -84.8 -- 1021.9 1122.9 101.113 Credit market instruments 5575.2 12979.7 332.4 12726.5 1437.9 2980.0 918.4 11593.7 8263.9 40280.0 39031.7 13912.2 9608.7 2712.0 56904.3 56904.3 -- 14 Open market paper 19.0 -- 60.5 130.3 85.5 -- -- -- 165.0 130.3 592.2 449.1 195.2 373.0 952.4 952.4 -- 15 Treasury securities 1108.9 -- 99.6 -- 533.6 -- -- 11568.9 1742.1 11568.9 4253.0 -- 5573.8 -- 11568.9 11568.9 -- 16 Agency- and GSE-backed sec. 75.1 -- 11.8 -- 469.6 -- 0.0 24.9 556.6 24.9 5993.4 7529.7 1004.7 -- 7554.6 7554.6 -- 17 Municipal securities 1657.0 241.0 40.5 509.1 12.1 2964.3 -- -- 1709.6 3714.4 1939.4 -- 65.4 -- 3714.4 3714.4 -- 18 Corporate and fgn. bonds 2556.6 -- -- 5795.2 150.5 -- 0.6 -- 2707.7 5795.2 7591.1 4986.4 2623.4 2140.7 12922.2 12922.2 -- 19 Depository inst. loans n.e.c. -- 66.3 -- 1680.1 -- -- -- -- -- 1746.4 2250.6 338.7 -- 165.5 2250.6 2250.6 -- 20 Other loans and advances 20.9 139.3 -- 1220.4 -- 15.7 188.7 -- 209.6 1375.4 1469.0 416.6 146.2 32.8 1824.8 1824.8 -- 21 Mortgages 70.5 9608.8 71.4 3391.3 186.6 -- 112.3 0.0 440.8 13000.2 12751.1 191.8 -- -- 13191.9 13191.9 -- 22 Consumer credit 67.1 2924.3 48.5 -- -- -- 616.8 -- 732.4 2924.3 2191.9 -- -- -- 2924.3 2924.3 -- 23 Corporate equities 10322.0 -- -- 16118.8 129.7 -- 39.9 -- 10491.6 16118.8 12472.9 4936.0 3480.8 5390.5 26445.3 26445.3 -- 24 Mutual fund shares 5315.9 -- 181.7 -- 61.7 -- -- -- 5559.2 -- 2805.2 9323.6 959.2 -- 9323.6 9323.6 -- 25 Trade credit -- 289.7 2873.5 2322.0 162.5 746.5 50.6 228.5 3086.7 3586.8 133.2 14.2 145.6 69.3 3365.4 3670.3 304.826 Security credit 776.0 303.7 -- -- -- -- -- -- 776.0 303.7 736.4 1208.7 0.0 0.0 1512.5 1512.5 -- 27 Life insurance reserves 1186.1 -- -- -- -- -- -- 50.0 1186.1 50.0 172.9 1309.0 -- -- 1359.0 1359.0 -- 28 Pension entitlements 18075.1 -- -- -- -- -- -- -- 18075.1 -- -- 18075.1 -- -- 18075.1 18075.1 -- 29 Taxes payable -- -- -- 158.6 112.3 -- 158.1 -- 270.4 158.6 -- -77.2 -- -- 270.4 81.4 -189.030 Equity in noncorp. business 8186.3 -- -- 8167.7 -- -- -- -- 8186.3 8167.7 -- 18.6 -- -- 8186.3 8186.3 -- 31 Miscellaneous 870.2 24.9 13509.9 4584.6 87.2 1487.5 142.0 3281.2 14609.4 9378.3 14080.1 8249.5 5128.8 7073.7 33818.3 24701.5 -10604.3General notes: A = assets; L = liabilities. Domestic nonfinancial sectors (columns 9 and 10) are households and nonprofit organizations, nonfinancial business, state and local governments, and federal government. Equity included in line 2 is the sum of corporate equities (line 25) and equity in noncorporate business (line 32). The matrix shows a discrepancy in column 17 for monetary gold (line 4) because by international accounting convention, monetary gold is a financial asset without a corresponding liability.
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Z.1, September 25, 2013 3

D.1 Credit Market Debt Growth by Sector 1

In percent; quarterly figures are seasonally adjusted annual rates 

Domestic nonfinancial sectors

 

 Households Business State and Domestic 

Home Consumer local Federal financial

 Total Total mortgage credit Total Corporate governments government sectors Foreign

1979 12.1 15.0 16.4 13.9 13.5 11.3 9.0 5.8 23.0 9.6

1980 9.5 8.2 10.9 1.0 10.1 8.5 6.9 11.8 14.9 14.3

1981 10.3 7.4 7.2 5.5 13.0 13.8 8.0 11.6 18.4 12.2

1982 10.4 5.6 4.8 5.0 9.9 10.2 11.2 19.7 13.6 7.5

1983 12.0 11.1 10.2 12.1 9.1 8.3 11.4 18.9 13.3 8.3

1984 14.8 12.7 11.4 18.4 16.1 16.7 11.4 16.9 17.5 3.7

1985 15.6 16.1 14.6 15.9 11.0 12.7 31.8 16.5 19.3 0.5

1986 11.9 11.3 13.7 9.1 11.6 14.1 10.9 13.6 26.2 4.0

1987 9.1 10.4 13.4 4.8 7.8 8.8 12.0 8.0 18.3 2.5

1988 9.1 9.8 11.8 6.7 9.9 10.9 6.0 8.0 13.1 2.9

1989 7.3 9.1 10.9 6.3 6.3 7.4 5.3 7.0 10.5 3.8

1990 6.5 7.0 8.9 1.9 3.6 5.3 5.0 11.0 8.6 8.3

1991 4.4 5.1 7.0 -1.1 -2.1 -2.1 9.2 11.1 5.9 4.8

1992 4.6 5.4 6.5 1.1 -0.3 0.7 1.5 10.9 8.5 6.9

1993 5.6 6.0 5.5 7.4 3.1 5.3 5.3 8.3 9.7 18.7

1994 5.1 7.7 5.6 15.2 5.4 7.1 -3.9 4.7 14.0 -2.4

1995 5.0 7.0 4.9 14.4 6.2 7.1 -5.5 4.1 11.4 17.7

1996 5.1 6.7 6.2 9.0 6.0 6.0 -2.0 4.0 12.4 15.5

1997 5.5 5.9 6.1 5.5 9.2 9.5 4.9 0.6 12.0 10.6

1998 6.5 7.6 8.0 7.2 11.5 10.9 6.2 -1.4 19.4 5.1

1999 6.2 8.0 9.4 7.8 10.4 9.5 3.3 -1.9 16.6 2.4

2000 5.0 9.0 8.7 11.4 9.3 8.6 1.4 -8.0 10.7 8.4

2001 6.4 9.6 10.6 8.6 6.0 4.9 8.8 -0.2 10.6 -1.4

2002 7.4 10.6 13.3 5.6 3.0 1.3 11.1 7.6 9.6 10.8

2003 8.0 11.8 14.5 5.3 2.2 1.8 8.3 10.9 10.7 4.0

2004 9.3 11.1 13.5 5.6 6.7 4.8 11.4 9.0 8.6 12.4

2005 9.3 11.2 13.4 4.5 9.0 7.0 5.8 7.0 9.4 7.9

2006 8.7 10.0 11.2 5.3 11.0 9.3 3.9 3.9 10.3 22.0

2007 8.5 6.7 6.9 6.1 13.6 13.5 5.5 4.9 12.7 9.0

2008 5.9 -0.0 -0.5 1.3 6.3 5.2 0.6 24.2 5.5 -10.6

2009 3.1 -1.7 -1.5 -3.9 -2.2 -1.9 4.0 22.7 -10.6 12.4

2010 4.1 -2.5 -3.4 -1.0 1.5 2.7 2.3 20.2 -5.9 3.6

2011 3.7 -1.4 -2.3 4.1 4.8 6.9 -1.7 11.4 -3.0 5.1

2012 4.9 0.2 -2.4 6.1 6.0 8.2 -0.2 10.9 -2.8 4.7

2007 -- Q1 8.5 7.3 8.5 4.9 11.5 10.1 7.0 6.7 11.2 12.9

 Q2 8.3 7.2 7.8 5.7 14.0 14.4 6.1 1.3 10.5 18.0

 Q3 8.7 6.8 6.9 7.8 14.0 14.6 4.4 5.6 16.5 1.4

 Q4 7.4 4.8 3.8 5.7 12.5 12.3 3.9 5.4 10.1 2.9

2008 -- Q1 6.5 3.8 3.1 6.0 9.1 9.0 2.0 10.7 6.1 10.4

 Q2 3.4 -0.4 -0.5 2.4 7.6 6.9 0.9 5.8 6.4 -0.0

 Q3 7.1 -1.5 -2.0 -0.7 5.6 4.7 0.7 36.0 6.4 -29.0

 Q4 6.3 -2.1 -2.8 -2.4 2.4 -0.2 -1.1 37.5 2.9 -26.8

2009 -- Q1 4.3 -1.1 0.1 -3.1 -0.8 -0.5 2.7 25.8 -10.8 11.3

 Q2 4.4 -1.5 -1.8 -5.8 -1.9 -1.2 5.1 27.0 -13.4 12.9

 Q3 2.1 -2.1 -2.3 -3.3 -3.4 -3.5 3.9 18.4 -10.5 15.3

 Q4 1.4 -2.0 -2.0 -3.7 -2.8 -2.6 4.0 13.0 -8.4 7.0

2010 -- Q1 3.8 -3.8 -5.6 -3.0 0.3 1.2 3.4 22.0 -8.2 4.8

 Q2 4.0 -2.1 -2.7 -2.5 -1.0 -1.1 0.5 22.0 -7.1 -3.2

 Q3 4.1 -2.5 -3.1 -0.2 3.6 5.7 1.8 15.9 -4.4 6.2

 Q4 4.4 -1.8 -2.5 1.8 3.0 5.0 3.6 15.6 -5.1 6.1

2011 -- Q1 2.7 -1.9 -2.9 4.1 3.9 6.1 -2.4 9.1 -1.0 17.6

 Q2 2.7 -2.6 -2.3 3.6 5.6 8.2 -2.7 8.0 -4.6 6.7

 Q3 4.7 -1.0 -1.8 3.6 4.2 6.0 -0.3 14.4 -3.2 -2.6

 Q4 4.6 -0.1 -2.4 5.0 5.1 6.7 -1.6 12.1 -3.3 -1.5

2012 -- Q1 4.7 -1.1 -3.5 5.4 4.4 6.4 0.4 13.5 -2.8 0.8

 Q2 5.3 1.4 -2.2 7.4 4.9 6.6 2.9 11.0 -4.8 -3.6

 Q3 3.0 -1.6 -3.3 4.8 5.1 6.8 -0.2 7.1 -2.0 8.9

 Q4 6.2 2.1 -0.9 6.5 9.1 11.9 -3.8 10.4 -1.7 11.9

2013 -- Q1 4.5 -0.5 -2.1 6.2 4.9 6.8 2.4 10.1 -0.5 14.8

 Q2 3.1 0.2 -1.7 5.6 6.9 8.4 1.1 2.5 0.5 1.8

1. Data shown are on an end-of-period basis.
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4 Z.1, September 25, 2013

D.2 Credit Market Borrowing by Sector

Billions of dollars; quarterly figures are seasonally adjusted annual rates 

Domestic nonfinancial sectors

 

 Households Business State and Domestic 

Home Consumer local Federal financial

 Total Total mortgage credit Total Corporate governments government sectors Foreign

1979 388.2 166.3 116.5 43.3 159.6 85.8 26.6 35.8 94.9 15.0

1980 340.3 105.3 90.2 3.4 135.4 72.2 22.2 77.4 75.8 24.2

1981 406.6 102.7 67.0 19.8 190.8 126.1 27.6 85.5 107.8 23.5

1982 451.3 84.6 47.4 18.8 163.7 105.8 41.7 161.3 93.6 16.0

1983 572.6 175.3 105.1 48.2 164.8 93.4 47.3 185.2 104.3 17.3

1984 790.9 220.4 127.3 81.7 320.8 207.1 52.5 197.2 156.2 8.4

1985 957.7 313.8 181.5 84.0 254.6 184.2 163.6 225.7 203.2 1.2

1986 845.0 258.1 198.8 55.8 296.7 229.5 74.2 216.0 330.1 9.7

1987 721.3 264.3 221.5 32.3 222.6 164.6 90.4 143.9 291.8 6.3

1988 784.4 270.4 215.7 46.6 308.5 224.4 50.4 155.1 249.8 7.4

1989 685.3 276.8 224.9 47.0 214.8 166.4 47.4 146.4 224.8 10.2

1990 658.4 233.2 200.1 15.1 131.2 130.9 47.1 246.9 207.8 23.9

1991 473.4 183.3 174.6 -8.8 -79.3 -53.1 91.2 278.2 153.1 15.1

1992 514.3 203.2 173.1 9.2 -9.3 17.1 16.5 304.0 236.5 24.1

1993 667.3 239.4 156.3 61.4 113.8 134.4 57.9 256.1 292.9 69.8

1994 639.8 324.3 166.5 135.0 205.3 190.8 -45.5 155.9 464.4 -11.2

1995 653.5 319.0 153.6 147.0 250.8 205.5 -60.8 144.4 433.6 78.3

1996 706.1 324.8 205.1 105.7 257.0 186.5 -20.5 144.9 523.2 88.0

1997 793.5 305.0 215.9 70.3 414.7 312.7 50.8 23.1 570.3 69.9

1998 998.2 414.8 301.1 97.1 569.2 390.2 66.8 -52.6 1026.5 37.2

1999 1011.5 474.5 379.2 112.4 571.0 377.2 37.3 -71.2 1052.6 19.0

2000 864.5 575.4 383.7 176.5 568.1 375.7 16.9 -295.9 790.8 63.0

2001 1164.0 666.5 508.2 150.6 397.6 234.2 105.5 -5.6 862.3 -11.2

2002 1429.7 812.4 705.9 105.2 215.1 63.3 144.6 257.6 881.4 93.4

2003 1671.5 992.5 871.4 105.9 162.4 88.5 120.5 396.0 1071.0 43.0

2004 2092.5 1051.8 934.2 117.2 500.1 245.4 178.8 361.9 938.9 155.3

2005 2350.7 1184.2 1052.6 100.4 718.0 376.3 141.7 306.9 1113.4 113.0

2006 2401.8 1166.6 993.6 121.9 950.9 535.7 100.9 183.4 1336.3 332.6

2007 2564.2 863.6 683.9 151.3 1316.9 855.3 146.7 237.1 1814.2 170.3

2008 1943.8 -6.3 -58.2 34.8 692.9 374.2 17.9 1239.2 896.9 -226.2

2009 1072.8 -228.5 -157.4 -103.7 -255.6 -146.9 113.0 1443.9 -1808.7 211.8

2010 1477.0 -342.4 -357.8 -25.3 169.7 201.8 69.5 1580.2 -931.7 75.3

2011 1372.9 -185.2 -228.4 109.1 542.9 517.7 -52.7 1067.9 -434.0 114.8

2012 1880.5 27.4 -236.4 169.1 718.1 652.4 -5.3 1140.2 -394.0 115.0

2007 -- Q1 2572.6 944.7 838.4 119.5 1111.5 641.6 187.5 328.9 1593.3 243.3

 Q2 2570.6 951.8 785.4 141.9 1388.2 936.1 165.9 64.6 1551.0 350.2

 Q3 2749.9 906.0 709.7 196.8 1440.7 981.2 123.0 280.1 2511.0 28.3

 Q4 2363.8 651.6 401.9 146.8 1327.2 862.5 110.3 274.7 1601.5 59.6

2008 -- Q1 2128.4 525.5 330.9 156.8 997.1 648.4 56.3 549.4 995.1 221.3

 Q2 1126.6 -56.3 -54.2 64.1 852.4 510.1 25.5 305.0 1046.3 -0.1

 Q3 2373.5 -207.4 -210.6 -17.8 639.7 352.3 21.1 1920.1 1061.8 -622.8

 Q4 2146.8 -286.8 -298.9 -63.7 282.5 -14.0 -31.2 2182.3 484.4 -503.3

2009 -- Q1 1478.9 -148.0 10.2 -81.1 -88.0 -37.4 76.0 1638.9 -1848.7 192.3

 Q2 1553.0 -201.0 -185.1 -153.1 -219.9 -94.6 146.2 1827.7 -2296.9 224.0

 Q3 760.7 -290.1 -241.5 -85.7 -391.4 -262.9 113.2 1329.1 -1741.3 287.9

 Q4 498.6 -274.9 -213.2 -95.1 -323.1 -192.7 116.8 979.8 -1347.9 143.1

2010 -- Q1 1343.7 -516.6 -582.8 -77.7 38.6 91.0 100.9 1720.7 -1291.8 99.6

 Q2 1425.3 -288.0 -280.4 -63.8 -112.5 -80.2 14.8 1811.0 -1056.3 -68.9

 Q3 1505.9 -332.0 -317.1 -4.2 405.4 421.6 54.6 1377.9 -638.0 132.0

 Q4 1633.3 -233.1 -250.8 44.3 347.2 374.7 107.8 1411.3 -740.6 138.6

2011 -- Q1 983.6 -248.4 -283.0 109.5 447.6 453.4 -73.6 857.9 -148.5 399.5

 Q2 992.6 -340.1 -223.3 95.7 640.5 625.0 -80.0 772.1 -670.9 160.5

 Q3 1750.1 -136.4 -172.1 96.2 485.9 464.1 -10.2 1410.8 -454.2 -64.8

 Q4 1765.3 -16.0 -235.4 135.1 597.4 528.4 -47.0 1230.9 -462.5 -35.9

2012 -- Q1 1809.6 -143.5 -335.4 147.6 528.7 512.2 13.2 1411.2 -388.1 19.7

 Q2 2056.0 184.8 -208.5 205.7 597.8 533.5 87.8 1185.7 -676.2 -90.0

 Q3 1194.7 -204.7 -315.2 136.2 618.3 556.9 -6.5 787.7 -274.9 220.5

 Q4 2461.6 273.2 -86.7 186.9 1127.8 1007.0 -115.5 1176.1 -236.7 309.6

2013 -- Q1 1794.1 -67.7 -200.1 180.6 620.3 593.5 72.8 1168.7 -70.9 401.8

 Q2 1251.4 31.4 -162.0 165.1 887.2 742.2 33.0 299.9 63.6 51.3
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D.3 Credit Market Debt Outstanding by Sector 1

Billions of dollars; quarterly figures are seasonally adjusted 

Domestic nonfinancial sectors

 

 Households Business State and Domestic 

Home Consumer local Federal financial

 Total Total mortgage credit Total Corporate governments government sectors Foreign

1979 3596.3 1278.5 826.7 354.6 1337.9 845.9 322.2 657.7 508.9 168.5

1980 3944.3 1396.0 926.5 358.0 1468.9 913.8 344.4 735.0 584.7 193.4

1981 4351.9 1505.9 998.2 377.9 1653.4 1033.6 372.1 820.5 689.2 214.0

1982 4773.1 1575.8 1031.1 396.7 1801.8 1124.1 413.8 981.8 785.5 208.1

1983 5348.6 1731.1 1116.2 444.9 1989.5 1240.5 461.1 1167.0 890.1 224.1

1984 6134.8 1943.1 1242.8 526.6 2313.8 1451.2 513.6 1364.2 1054.9 232.8

1985 7110.6 2277.7 1449.6 610.6 2565.1 1632.1 677.9 1589.9 1259.0 242.5

1986 7953.0 2534.2 1648.3 666.4 2860.8 1860.6 752.1 1805.9 1596.6 251.9

1987 8656.1 2752.5 1827.9 698.6 3111.2 2053.0 842.6 1949.8 1899.7 259.0

1988 9437.0 3039.8 2054.2 745.2 3399.3 2257.3 893.0 2104.9 2149.5 269.8

1989 10139.3 3309.2 2259.5 809.3 3638.6 2448.4 940.4 2251.2 2402.8 287.9

1990 10825.1 3571.6 2488.8 824.4 3767.9 2577.4 987.4 2498.1 2613.8 318.2

1991 11295.2 3758.5 2667.0 815.6 3681.7 2519.7 1078.6 2776.4 2766.8 350.4

1992 11812.7 3961.7 2840.0 824.8 3675.6 2540.0 1095.1 3080.3 3018.9 372.4

1993 12494.8 4203.5 2998.7 886.2 3801.8 2686.9 1153.0 3336.5 3317.2 468.2

1994 13140.9 4527.0 3165.3 1021.2 4014.1 2884.8 1107.5 3492.3 3789.7 443.1

1995 13810.3 4846.1 3318.9 1168.2 4280.7 3106.1 1046.7 3636.7 4226.3 567.6

1996 14516.4 5183.8 3537.0 1273.9 4524.7 3279.6 1026.2 3781.7 4749.5 657.2

1997 15308.4 5489.4 3752.9 1344.2 4937.3 3590.3 1076.9 3804.8 5299.7 723.6

1998 16306.6 5902.9 4054.0 1441.3 5507.8 3981.7 1143.8 3752.2 6326.2 783.2

1999 17352.7 6377.6 4430.8 1553.6 6113.1 4393.3 1181.0 3681.0 7376.5 748.2

2000 18227.1 6962.9 4813.3 1741.3 6681.2 4769.0 1197.9 3385.1 8168.4 814.5

2001 19374.2 7628.5 5321.5 1891.8 7062.8 4987.1 1303.4 3379.5 9156.8 865.4

2002 20803.8 8440.9 6027.4 1997.0 7278.0 5050.4 1447.9 3637.0 10038.3 1072.8

2003 22519.5 9463.5 6908.5 2102.9 7454.5 5153.0 1568.4 4033.1 10944.6 1253.3

2004 25344.0 10535.3 7857.6 2220.1 7965.5 5409.4 2448.2 4395.0 11898.4 1438.8

2005 27694.6 11719.5 8910.2 2320.6 8683.4 5785.7 2589.8 4701.9 12957.3 1513.9

2006 30172.2 12941.0 9903.8 2462.8 9655.1 6342.2 2690.8 4885.3 14260.5 1882.6

2007 32745.5 13807.1 10587.6 2616.6 10978.5 7204.0 2837.5 5122.3 16204.5 2126.3

2008 34689.2 13805.8 10534.4 2651.4 11666.5 7573.3 2855.4 6361.5 17101.1 1708.8

2009 35634.5 13533.9 10377.0 2553.5 11326.7 7342.2 2968.4 7805.4 15688.5 2090.3

2010 37040.0 13196.8 9906.2 2648.1 11419.6 7473.3 3038.0 9385.6 14485.7 2267.2

2011 38418.3 13017.0 9677.8 2757.2 11962.5 7991.0 2985.3 10453.6 14046.3 2452.9

2012 40280.0 12979.7 9436.3 2924.3 12726.5 8686.9 2980.0 11593.7 13912.2 2712.0

2007 -- Q1 30821.9 13177.2 10113.4 2492.6 9939.5 6509.0 2737.7 4967.5 14786.1 1941.8

 Q2 31464.5 13415.2 10309.7 2528.1 10286.6 6743.1 2779.1 4983.6 15173.8 2020.8

 Q3 32154.5 13644.2 10487.2 2579.9 10646.7 6988.4 2809.9 5053.7 15804.1 2077.1

 Q4 32745.5 13807.1 10587.6 2616.6 10978.5 7204.0 2837.5 5122.3 16204.5 2126.3

2008 -- Q1 33277.6 13938.5 10670.4 2655.7 11227.8 7366.1 2851.5 5259.7 16453.3 2216.1

 Q2 33559.2 13924.4 10656.8 2671.8 11440.9 7493.6 2857.9 5335.9 16714.8 2145.8

 Q3 34152.5 13877.5 10609.1 2667.3 11595.9 7576.7 2863.2 5816.0 16979.9 1877.7

 Q4 34689.2 13805.8 10534.4 2651.4 11666.5 7573.3 2855.4 6361.5 17101.1 1708.8

2009 -- Q1 34997.9 13698.2 10536.9 2631.1 11654.1 7573.5 2874.4 6771.3 17091.5 1732.7

 Q2 35386.1 13647.9 10490.7 2598.7 11599.1 7549.8 2910.9 7228.2 16517.3 1879.6

 Q3 35576.3 13575.4 10430.3 2577.2 11501.3 7484.1 2939.2 7560.5 16082.0 2053.1

 Q4 35634.5 13533.9 10377.0 2553.5 11326.7 7342.2 2968.4 7805.4 15688.5 2090.3

2010 -- Q1 36001.6 13417.5 10230.1 2537.6 11354.8 7382.2 2993.6 8235.6 14857.5 2137.5

 Q2 36357.9 13345.5 10160.0 2521.7 11326.7 7362.2 2997.3 8688.4 14593.4 2125.7

 Q3 36734.4 13262.5 10080.7 2520.7 11428.1 7467.6 3011.0 9032.8 14433.9 2265.4

 Q4 37040.0 13196.8 9906.2 2648.1 11419.6 7473.3 3038.0 9385.6 14485.7 2267.2

2011 -- Q1 37285.9 13134.7 9835.4 2675.5 11531.5 7586.6 3019.6 9600.1 14448.6 2385.3

 Q2 37539.4 13055.1 9779.6 2699.4 11691.6 7742.8 2999.6 9793.2 14275.5 2464.4

 Q3 37977.0 13021.0 9736.6 2723.4 11813.1 7858.8 2997.0 10145.9 14161.9 2449.2

 Q4 38418.3 13017.0 9677.8 2757.2 11962.5 7991.0 2985.3 10453.6 14046.3 2452.9

2012 -- Q1 38866.2 12983.4 9593.9 2794.1 12087.8 8109.7 2988.6 10806.4 14012.8 2494.2

 Q2 39375.2 13024.6 9536.8 2843.5 12237.2 8243.1 3010.5 11102.8 13843.8 2478.9

 Q3 39666.0 12913.7 9458.0 2877.6 12443.7 8434.2 3008.9 11299.7 13961.3 2608.6

 Q4 40280.0 12979.7 9436.3 2924.3 12726.5 8686.9 2980.0 11593.7 13912.2 2712.0

2013 -- Q1 40728.5 12962.8 9386.3 2969.5 12881.6 8835.2 2998.2 11885.9 13894.5 2786.4

 Q2 41041.4 12970.6 9345.8 3010.7 13103.4 9020.8 3006.4 11960.9 13910.4 2709.6

1. Data shown are on an end-of-period basis.
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F.1 Total Credit Market Borrowing and Lending (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Credit market borrowing 2614.5 -524.1 620.7 1053.7 1601.5 1441.3 1289.8 1140.4 2534.5 2125.0 1366.4 1

 2 Domestic nonfinancial sectors 1943.8 1072.8 1477.0 1372.9 1880.5 1809.6 2056.0 1194.7 2461.6 1794.1 1251.4 2

 3 Household sector -6.3 -228.5 -342.4 -185.2 27.4 -143.5 184.8 -204.7 273.2 -67.7 31.4 3

 4 Nonfinancial corporate business 374.2 -146.9 201.8 517.7 652.4 512.2 533.5 556.9 1007.0 593.5 742.2 4

 5 Nonfinancial noncorporate business 318.7 -108.7 -32.1 25.1 65.7 16.5 64.2 61.4 120.8 26.8 145.0 5

 6 State and local governments 17.9 113.0 69.5 -52.7 -5.3 13.2 87.8 -6.5 -115.5 72.8 33.0 6

 7 Federal government 1239.2 1443.9 1580.2 1067.9 1140.2 1411.2 1185.7 787.7 1176.1 1168.7 299.9 7

 8 Rest of the world -226.2 211.8 75.3 114.8 115.0 19.7 -90.0 220.5 309.6 401.8 51.3 8

 9 Financial sectors 896.9 -1808.7 -931.7 -434.0 -394.0 -388.1 -676.2 -274.9 -236.7 -70.9 63.6 9

 10 U.S.-chartered depository institutions -0.9 -292.2 -161.7 -73.9 -27.2 -35.7 -23.0 -74.5 24.3 -4.9 64.3 10

 11 Foreign banking offices in U.S. -0.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Credit unions 8.3 -14.1 -0.4 -2.0 0.9 -5.1 3.3 2.6 2.8 -11.4 4.9 12

 13 Life insurance companies 26.2 -6.6 -3.2 1.8 4.8 6.6 15.7 -0.2 -3.0 5.2 6.5 13

 14 Government-sponsored enterprises 271.7 -475.3 -233.8 -187.2 -154.6 -274.9 -155.0 -113.2 -75.4 43.1 136.7 14

 15 Agency- and GSE-backed mortgage pools 497.0 415.3 186.9 165.3 132.2 134.5 146.5 105.6 142.4 138.8 39.6 15

 16 ABS issuers -413.6 -736.9 -497.5 -246.8 -215.9 -230.2 -246.6 -252.6 -134.4 -229.9 -160.7 16

 17 Finance companies -79.4 -156.2 -174.9 -12.7 -53.7 -40.3 -80.2 59.9 -154.3 -73.1 -2.8 17

 18 REITs -53.8 -50.0 -2.1 28.2 42.9 26.6 57.3 27.4 60.4 -1.0 30.0 18

 19 Brokers and dealers 77.7 -49.7 36.9 -37.9 -1.7 24.8 16.5 -65.2 17.3 -4.2 55.8 19

 20 Holding companies 97.3 -8.0 -16.5 -16.5 -97.7 12.3 -360.2 26.2 -69.3 -24.5 -149.8 20

 21 Funding corporations 466.4 -434.8 -65.3 -52.4 -23.9 -6.7 -50.6 9.1 -47.4 91.1 39.1 21

 22 Credit market lending 2614.5 -524.1 620.7 1053.7 1601.5 1441.3 1289.8 1140.4 2534.5 2125.0 1366.4 22

 23 Domestic nonfinancial sectors 141.0 306.7 164.2 -216.3 38.4 -518.9 821.7 -329.7 180.3 -334.8 -322.2 23

 24 Household sector 187.1 31.6 6.3 -153.1 -8.5 -478.5 603.1 -456.2 297.6 -401.2 -468.4 24

 25 Nonfinancial corporate business -34.6 10.0 2.6 -5.3 9.5 10.0 27.1 54.6 -53.6 -112.8 61.6 25

 26 Nonfinancial noncorporate business -10.9 -6.7 6.6 1.1 1.2 0.5 0.7 1.0 2.4 1.5 2.6 26

 27 State and local governments -94.0 -37.3 60.7 -80.8 -66.1 -78.0 20.6 -41.0 -165.9 12.4 -36.1 27

 28 Federal government 93.4 309.1 88.0 21.8 102.3 27.0 170.3 111.9 99.8 165.4 118.1 28

 29 Rest of the world 377.2 123.5 623.7 239.6 452.0 546.1 -18.5 702.5 577.8 566.7 79.1 29

 30 Financial sectors 2096.2 -954.3 -167.3 1030.4 1111.1 1414.1 486.6 767.5 1776.4 1893.1 1609.4 30

 31 Monetary authority 245.4 1001.6 271.5 376.5 34.5 -33.4 -23.5 -203.4 398.4 1134.2 1083.8 31

 32 U.S.-chartered depository institutions 241.9 -336.7 -176.6 126.9 357.8 274.7 349.6 174.3 632.8 161.8 187.7 32

 33 Foreign banking offices in U.S. 100.8 -285.8 -30.8 37.7 -0.7 -51.3 -40.3 75.1 13.6 -85.4 -41.5 33

 34 Banks in U.S.-affiliated areas -1.9 -2.8 -19.3 -4.9 -0.1 -0.6 -4.6 -2.9 7.5 -1.1 -0.1 34

 35 Credit unions 40.4 33.5 24.0 37.6 46.0 77.0 41.7 41.9 23.7 53.7 33.2 35

 36 Property-casualty insurance companies -15.9 33.3 3.9 36.2 -2.5 -13.7 -11.0 1.1 13.6 20.4 4.2 36

 37 Life insurance companies 11.6 139.8 151.6 123.6 73.6 145.6 -111.0 153.2 106.6 107.0 32.0 37

 38 Private pension funds -4.9 12.7 123.2 73.2 11.8 42.3 15.7 -6.1 -4.5 27.7 65.9 38

 39 State and local govt. retirement funds -26.5 -85.8 22.1 0.4 -2.0 31.8 -27.6 -36.2 24.0 21.8 70.5 39

 40 Federal government retirement funds 23.9 7.4 10.8 20.0 13.9 5.5 16.9 9.4 23.9 -8.7 1.5 40

 41 Money market mutual funds 727.9 -619.9 -396.6 -9.8 -82.7 -106.2 -118.5 -27.8 -78.4 80.0 112.2 41

 42 Mutual funds 32.4 387.1 353.6 359.4 642.0 683.2 650.3 655.2 579.2 683.2 277.2 42

 43 Closed-end funds -40.7 10.6 5.2 -1.7 11.6 11.4 5.1 15.0 14.8 30.5 19.2 43

 44 Exchange-traded funds 23.0 46.0 29.7 46.1 52.3 65.0 73.7 30.3 40.3 28.1 13.1 44

 45 Government-sponsored enterprises 242.9 -323.0 -315.6 -202.3 -223.2 -223.7 -329.5 -161.8 -177.6 -156.9 251.6 45

 46 Agency- and GSE-backed mortgage pools 497.0 415.3 186.9 165.3 132.2 134.5 146.5 105.6 142.4 138.8 39.6 46

 47 ABS issuers -397.0 -702.3 -487.8 -242.6 -209.5 -221.0 -235.0 -248.7 -133.4 -225.8 -145.1 47

 48 Finance companies -81.9 -217.6 -104.2 -45.9 -28.2 -31.1 -21.9 -32.8 -26.9 -21.6 20.9 48

 49 REITs -68.9 -8.7 37.1 102.9 127.7 227.8 90.6 251.6 -59.3 -28.8 -63.8 49

 50 Brokers and dealers -85.7 -192.1 32.2 5.7 89.1 224.8 -18.0 16.8 132.8 -167.4 -330.1 50

 51 Holding companies 13.9 -16.0 22.1 3.1 -39.8 64.1 -158.2 -28.1 -36.9 26.0 53.0 51

 52 Funding corporations 618.5 -250.9 89.7 22.8 107.1 107.2 195.5 -14.2 139.9 75.3 -75.3 52

(1) Excludes corporate equities and mutual fund shares.
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F.2 Credit Market Borrowing by Nonfinancial Sectors

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Domestic 1943.8 1072.8 1477.0 1372.9 1880.5 1809.6 2056.0 1194.7 2461.6 1794.1 1251.4 1

 2 By instrument 1943.8 1072.8 1477.0 1372.9 1880.5 1809.6 2056.0 1194.7 2461.6 1794.1 1251.4 2

 3 Commercial paper 7.7 -73.1 24.5 33.4 14.0 -7.9 29.0 -35.5 70.5 21.2 -19.0 3

 4 Treasury securities 1239.0 1443.7 1579.6 1066.8 1140.6 1414.6 1185.5 788.0 1174.1 1169.7 298.5 4

 5 Agency- and GSE-backed securities 0.2 0.1 0.7 1.1 -0.4 -3.3 0.1 -0.3 1.9 -1.0 1.3 5

 6 Municipal securities 92.4 155.3 99.7 -52.8 -4.9 19.2 95.4 -11.8 -122.6 76.5 24.7 6

 7 Corporate bonds 225.4 411.7 438.6 410.8 579.6 523.2 426.0 587.1 782.0 570.2 558.9 7

 8 Depository institution loans n.e.c. 188.4 -303.1 -51.5 71.7 277.6 260.2 383.5 110.8 356.1 14.4 151.5 8

 9 Other loans and advances 87.3 -164.8 -82.4 63.2 -19.3 -82.8 1.5 -13.5 17.6 20.6 119.5 9

 10 Mortgages 68.6 -293.5 -506.8 -330.5 -275.8 -461.1 -270.9 -366.2 -4.9 -258.0 -49.1 10

 11 Home -115.3 -211.3 -346.4 -254.6 -248.7 -354.1 -218.1 -328.8 -93.7 -213.8 -165.5 11

 12 Multifamily residential 44.8 5.0 -6.1 5.5 24.9 -4.9 28.0 33.1 43.3 15.6 40.8 12

 13 Commercial 117.2 -98.5 -162.4 -94.5 -57.8 -107.9 -86.5 -76.3 39.6 -65.7 69.6 13

 14 Farm 22.0 11.3 8.1 13.1 5.8 5.8 5.8 5.8 5.8 6.0 6.0 14

 15 Consumer credit 34.8 -103.7 -25.3 109.1 169.1 147.6 205.7 136.2 186.9 180.6 165.1 15

 16 By sector 1943.8 1072.8 1477.0 1372.9 1880.5 1809.6 2056.0 1194.7 2461.6 1794.1 1251.4 16

 17 Household sector -6.3 -228.5 -342.4 -185.2 27.4 -143.5 184.8 -204.7 273.2 -67.7 31.4 17

 18 Nonfinancial business 692.9 -255.6 169.7 542.9 718.1 528.7 597.8 618.3 1127.8 620.3 887.2 18

 19 Corporate 374.2 -146.9 201.8 517.7 652.4 512.2 533.5 556.9 1007.0 593.5 742.2 19

 20 Noncorporate 318.7 -108.7 -32.1 25.1 65.7 16.5 64.2 61.4 120.8 26.8 145.0 20

 21 State and local governments 17.9 113.0 69.5 -52.7 -5.3 13.2 87.8 -6.5 -115.5 72.8 33.0 21

 22 Federal government 1239.2 1443.9 1580.2 1067.9 1140.2 1411.2 1185.7 787.7 1176.1 1168.7 299.9 22

 23 Foreign borrowing in U.S. -226.2 211.8 75.3 114.8 115.0 19.7 -90.0 220.5 309.6 401.8 51.3 23

 24 Commercial paper -71.0 59.4 -2.7 -53.5 27.9 32.9 -54.2 78.4 54.5 117.2 10.2 24

 25 Bonds -158.8 163.3 59.9 137.7 62.2 -49.8 -84.9 133.2 250.5 239.8 15.2 25

 26 Depository institution loans n.e.c. 5.1 -11.2 17.9 29.2 19.2 29.0 44.8 8.8 -5.9 45.2 25.6 26

 27 Other loans and advances -1.5 0.3 0.2 1.4 5.7 7.6 4.3 0.2 10.5 -0.4 0.3 27

 28 Domestic and foreign 1717.6 1284.6 1552.4 1487.7 1995.4 1829.3 1965.9 1415.3 2771.2 2195.9 1302.7 28

F.3 Credit Market Borrowing by Financial Sectors

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 By instrument 896.9 -1808.7 -931.7 -434.0 -394.0 -388.1 -676.2 -274.9 -236.7 -70.9 63.6 1

 2 Open market paper -125.4 -448.1 -102.2 -68.2 -58.8 -29.5 -54.1 -65.4 -86.1 -12.4 -15.7 2

 3 GSE issues 271.7 -475.3 -233.8 -187.2 -154.6 -274.9 -155.0 -113.2 -75.4 43.1 136.7 3

 4 Agency- and GSE-backed mortgage pool sec. 497.0 415.3 186.9 165.3 132.2 134.5 146.5 105.6 142.4 138.8 39.6 4

 5 Corporate bonds -282.9 -585.9 -575.1 -324.7 -207.9 -59.5 -411.6 -226.3 -134.3 -273.6 -249.8 5

 6 Depository institution loans n.e.c. 496.4 -435.4 -62.9 31.6 -124.0 -148.3 -280.6 32.0 -99.0 -16.8 28.1 6

 7 Other loans and advances 33.3 -282.6 -144.7 -60.0 3.5 -20.8 53.8 -19.8 0.8 45.7 126.3 7

 8 Mortgages 6.8 3.4 0.2 9.1 15.6 10.4 24.9 12.2 14.9 4.2 -1.4 8

 9 By sector 896.9 -1808.7 -931.7 -434.0 -394.0 -388.1 -676.2 -274.9 -236.7 -70.9 63.6 9

 10 U.S.-chartered depository institutions -0.9 -292.2 -161.7 -73.9 -27.2 -35.7 -23.0 -74.5 24.3 -4.9 64.3 10

 11 Foreign banking offices in U.S. -0.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Credit unions 8.3 -14.1 -0.4 -2.0 0.9 -5.1 3.3 2.6 2.8 -11.4 4.9 12

 13 Life insurance companies 26.2 -6.6 -3.2 1.8 4.8 6.6 15.7 -0.2 -3.0 5.2 6.5 13

 14 Government-sponsored enterprises 271.7 -475.3 -233.8 -187.2 -154.6 -274.9 -155.0 -113.2 -75.4 43.1 136.7 14

 15 Agency- and GSE-backed mortgage pools 497.0 415.3 186.9 165.3 132.2 134.5 146.5 105.6 142.4 138.8 39.6 15

 16 ABS issuers -413.6 -736.9 -497.5 -246.8 -215.9 -230.2 -246.6 -252.6 -134.4 -229.9 -160.7 16

 17 Finance companies -79.4 -156.2 -174.9 -12.7 -53.7 -40.3 -80.2 59.9 -154.3 -73.1 -2.8 17

 18 REITs -53.8 -50.0 -2.1 28.2 42.9 26.6 57.3 27.4 60.4 -1.0 30.0 18

 19 Brokers and dealers 77.7 -49.7 36.9 -37.9 -1.7 24.8 16.5 -65.2 17.3 -4.2 55.8 19

 20 Holding companies 97.3 -8.0 -16.5 -16.5 -97.7 12.3 -360.2 26.2 -69.3 -24.5 -149.8 20

 21 Funding corporations 466.4 -434.8 -65.3 -52.4 -23.9 -6.7 -50.6 9.1 -47.4 91.1 39.1 21
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F.4 Credit Market Borrowing, All Sectors, by Instrument

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Total 2614.5 -524.1 620.7 1053.7 1601.5 1441.3 1289.8 1140.4 2534.5 2125.0 1366.4 1

 2 Open market paper -188.8 -461.8 -80.4 -88.3 -16.9 -4.6 -79.3 -22.5 38.8 126.0 -24.5 2

 3 Treasury securities 1239.0 1443.7 1579.6 1066.8 1140.6 1414.6 1185.5 788.0 1174.1 1169.7 298.5 3

 4 Agency- and GSE-backed securities 768.9 -59.9 -46.2 -20.8 -22.8 -143.8 -8.4 -7.9 68.9 181.0 177.6 4

 5 Municipal securities 92.4 155.3 99.7 -52.8 -4.9 19.2 95.4 -11.8 -122.6 76.5 24.7 5

 6 Corporate and foreign bonds -216.3 -10.9 -76.6 223.8 433.9 413.9 -70.6 494.0 898.2 536.3 324.3 6

 7 Depository institution loans n.e.c. 689.9 -749.7 -96.5 132.5 172.9 141.0 147.7 151.6 251.2 42.8 205.1 7

 8 Other loans and advances 119.1 -447.0 -226.9 4.6 -10.2 -96.0 59.6 -33.1 28.9 65.9 246.0 8

 9 Mortgages 75.4 -290.1 -506.6 -321.4 -260.2 -450.7 -246.0 -354.0 10.0 -253.7 -50.6 9

 10 Consumer credit 34.8 -103.7 -25.3 109.1 169.1 147.6 205.7 136.2 186.9 180.6 165.1 10

 Memo:

 Funds raised through corporate equities and mutual fund shares

 11 Total net issues 254.9 812.6 362.5 36.0 463.4 371.6 373.7 714.3 394.0 1229.2 501.3 11

 12 Corporate equities 264.8 315.5 -7.6 -302.4 -162.3 -215.2 -211.7 -68.1 -154.1 271.3 2.7 12

 13 Nonfinancial -336.0 -64.6 -278.0 -472.5 -400.0 -291.8 -508.1 -395.6 -404.5 -255.9 -344.8 13

 Foreign shares purchased by

 14 U.S. residents -38.5 63.7 79.1 6.0 82.6 40.7 176.6 71.5 41.5 295.3 305.3 14

 15 Financial 639.3 316.4 191.2 164.0 155.1 35.8 119.9 256.0 208.8 232.0 42.2 15

 16 Mutual fund shares -9.9 497.1 370.1 338.4 625.7 586.8 585.4 782.3 548.2 957.8 498.6 16

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

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 Net flows through credit markets

 1 (from table F.4, line 1) 2614.5 -524.1 620.7 1053.7 1601.5 1441.3 1289.8 1140.4 2534.5 2125.0 1366.4 1

 2 U.S. official reserve assets 4.8 99.9 1.8 15.9 4.5 4.9 13.2 3.3 -3.6 3.5 -0.8 2

 3 SDR certificates 0.0 3.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Treasury currency -0.8 -0.4 -0.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Foreign deposits -394.3 -110.7 -9.3 -46.3 -30.2 -60.9 -111.7 141.0 -89.1 96.8 350.3 5

 6 Net interbank transactions 1823.0 -590.9 -132.9 844.5 -208.8 390.3 -274.2 -455.4 -495.7 2089.1 1799.2 6

 7 Checkable deposits and currency 568.4 -7.9 266.3 234.5 268.5 -73.9 301.1 223.1 623.6 299.1 72.7 7

 8 Small time and savings deposits 524.8 517.2 298.3 577.4 539.7 418.9 473.8 529.6 736.4 130.8 374.3 8

 9 Large time deposits -190.6 -141.8 -182.3 -204.6 -23.6 -77.2 -38.0 -107.3 128.2 -46.9 73.5 9

 10 Money market fund shares 724.2 -498.7 -503.2 -112.8 7.1 -190.9 -148.9 55.3 312.8 -135.0 77.2 10

 11 Security RPs -888.0 232.0 -197.1 -133.4 -14.0 197.0 -117.5 -111.1 -24.5 -23.4 -356.3 11

 12 Corporate equities 264.8 315.5 -7.6 -302.4 -162.3 -215.2 -211.7 -68.1 -154.1 271.3 2.7 12

 13 Mutual fund shares -9.9 497.1 370.1 338.4 625.7 586.8 585.4 782.3 548.2 957.8 498.6 13

 14 Trade payables -170.6 -12.0 226.5 52.8 178.5 229.7 179.5 186.6 118.1 187.5 44.7 14

 15 Security credit -397.9 -95.9 123.6 97.8 188.9 181.7 135.0 266.3 172.5 -105.7 71.7 15

 16 Life insurance reserves 67.0 26.5 17.2 94.1 -11.6 -9.6 -73.2 11.8 24.6 -10.0 13.7 16

 17 Pension entitlements 538.0 427.4 614.7 473.0 497.1 464.5 381.8 526.3 615.7 463.9 477.4 17

 18 Taxes payable -123.8 -3.4 19.4 20.7 13.1 19.4 18.1 28.6 -13.6 26.8 -58.7 18

 19 Noncorporate proprietors’ equity -287.1 -69.8 187.4 -54.9 1.1 27.5 5.1 -11.1 -17.0 36.9 4.6 19

 20 Miscellaneous 2392.7 -33.5 1331.1 1511.3 1010.2 763.0 1112.1 1020.6 1145.0 1275.6 864.3 20

 21 Total financial sources 7059.2 29.5 3044.5 4459.7 4485.2 4097.1 3519.5 4162.1 6162.1 7643.3 5675.6 21

 - Liabilities not identified as assets:

 22 Treasury currency -0.8 -4.4 -1.1 -0.7 -0.6 -0.8 -0.5 -0.5 -0.5 -0.9 -0.7 22

 23 Foreign deposits -330.4 -122.5 -26.6 25.2 -7.3 6.1 -30.8 105.5 -109.9 7.6 333.0 23

 24 Net interbank liabilities 60.7 29.1 22.1 20.3 6.6 188.1 -136.0 26.5 -52.1 330.4 -82.0 24

 25 Security RPs -594.0 465.8 -80.3 -120.0 -61.4 289.6 -182.6 -340.9 -11.8 -453.3 -140.9 25

 26 Taxes payable -67.3 -33.4 -8.4 -2.4 -0.1 -16.9 35.6 8.8 -27.8 30.0 -12.4 26

 27 Miscellaneous 1731.7 -363.8 235.9 11.2 -236.1 -249.6 -250.6 380.7 -825.0 -503.2 -1370.0 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 0.0 28

 29 Federal govt. -3.3 0.7 0.0 -0.1 0.6 -45.9 98.8 3.8 -54.2 -44.3 96.2 29

 30 Private domestic -2.0 -1.0 -1.1 0.9 0.7 -0.3 -0.3 0.0 3.2 -5.5 2.4 30

 31 Trade credit 21.5 102.5 60.3 -59.1 61.3 58.1 23.5 39.6 124.0 9.1 -18.3 31

 Totals identified to sectors

 32 as assets 6243.3 -43.5 2843.6 4584.4 4721.5 3868.9 3962.2 3938.5 7116.2 8273.4 6868.3 32
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L.1 Credit Market Debt Outstanding (1)

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

2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Total credit market debt owed by: 53499.1 53413.3 53792.9 54917.4 56904.3 55359.9 55591.7 56165.7 56904.3 57387.4 57562.9 1

 2 Domestic nonfinancial sectors 34689.2 35634.5 37040.0 38418.3 40280.0 38866.1 39260.7 39597.7 40280.0 40721.9 40938.4 2

 3 Household sector 13805.8 13533.9 13196.8 13017.0 12979.7 12943.5 12983.7 12886.7 12979.7 12925.1 12932.5 3

 4 Nonfinancial corporate business 7573.3 7342.2 7473.3 7991.0 8686.9 8107.3 8241.8 8438.7 8686.9 8825.9 9026.7 4

 5 Nonfinancial noncorporate business 4093.2 3984.5 3946.3 3971.4 4039.6 3977.1 3991.7 4007.2 4039.6 4045.9 4080.0 5

 6 State and local governments 2855.4 2968.4 3038.0 2985.3 2980.0 2986.3 2993.3 2985.3 2980.0 2994.8 2986.4 6

 7 Federal government 6361.5 7805.4 9385.6 10453.6 11593.7 10851.9 11050.1 11279.9 11593.7 11930.1 11912.9 7

 8 Rest of the world 1708.8 2090.3 2267.2 2452.9 2712.0 2503.4 2496.5 2615.9 2712.0 2791.5 2722.2 8

 9 Financial sectors 17101.1 15688.5 14485.7 14046.3 13912.2 13990.4 13834.5 13952.1 13912.2 13874.0 13902.3 9

 10 U.S.-chartered depository institutions 990.3 718.1 942.6 868.7 840.3 840.8 844.7 822.2 840.3 820.7 848.4 10

 11 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 0.0 11

 12 Credit unions 40.6 26.5 26.1 24.2 25.1 22.9 23.7 24.4 25.1 22.2 23.5 12

 13 Life insurance companies 54.9 48.3 45.1 46.8 51.6 48.5 52.4 52.4 51.6 52.9 54.5 13

 14 Government-sponsored enterprises 3181.9 2706.6 6434.5 6247.3 6092.7 6178.6 6139.8 6111.5 6092.7 6103.5 6137.6 14

 15 Agency- and GSE-backed mortgage pools 4961.4 5376.7 1139.5 1304.8 1437.0 1329.9 1377.3 1408.0 1437.0 1462.7 1485.8 15

 16 ABS issuers 4101.0 3287.6 2230.9 1984.1 1768.1 1924.2 1863.0 1801.4 1768.1 1708.6 1668.1 16

 17 Finance companies 1200.3 1044.1 1280.7 1262.6 1208.9 1251.5 1235.6 1246.0 1208.9 1190.8 1193.1 17

 18 REITs 367.4 317.4 315.2 343.4 386.3 350.1 364.4 371.2 386.3 386.1 393.6 18

 19 Brokers and dealers 142.6 92.9 129.7 91.8 90.2 98.0 102.1 85.8 90.2 89.1 103.1 19

 20 Holding companies 807.9 1253.7 1237.2 1220.8 1418.6 1303.9 1213.9 1428.7 1418.6 1412.4 1375.0 20

 21 Funding corporations 1252.8 816.8 704.2 651.8 593.5 642.0 617.4 600.5 593.5 625.0 619.7 21

 22 Total credit market assets held by: 53499.1 53413.3 53792.9 54917.4 56904.3 55359.9 55591.7 56165.7 56904.3 57387.4 57562.9 22

 23 Domestic nonfinancial sectors 7426.9 8132.3 8552.5 8109.2 8263.9 8039.6 8117.2 8190.7 8263.9 8234.2 8228.6 23

 24 Household sector 5158.7 5589.0 5847.6 5467.4 5575.2 5414.7 5447.1 5482.2 5575.2 5535.8 5505.7 24

 25 Nonfinancial corporate business 213.7 223.7 230.1 224.8 234.3 215.4 224.9 238.2 234.3 194.1 210.6 25

 26 Nonfinancial noncorporate business 95.8 89.1 95.8 96.9 98.0 97.0 97.2 97.4 98.0 98.4 99.0 26

 27 State and local governments 1561.4 1524.1 1584.8 1504.0 1437.9 1484.4 1490.8 1474.2 1437.9 1440.4 1432.6 27

 28 Federal government 397.2 706.3 794.3 816.2 918.4 828.1 857.2 898.6 918.4 965.5 980.7 28

 29 Rest of the world 7523.7 7723.4 8491.8 9029.7 9608.7 9176.8 9232.3 9500.4 9608.7 9738.9 9519.4 29

 30 Financial sectors 38548.5 37557.5 36748.5 37778.6 39031.7 38143.5 38242.2 38474.6 39031.7 39414.3 39814.9 30

 31 Monetary authority 986.0 1987.7 2259.2 2635.6 2670.1 2613.4 2610.9 2565.1 2670.1 2939.8 3214.2 31

 32 U.S.-chartered depository institutions 9442.9 9131.1 9341.5 9468.4 9815.1 9462.8 9564.3 9622.3 9815.1 9789.9 9853.0 32

 33 Foreign banking offices in U.S. 1063.8 777.9 747.1 784.9 784.1 775.5 760.4 778.3 784.1 766.9 752.1 33

 34 Banks in U.S.-affiliated areas 90.9 88.1 68.9 64.0 63.9 63.9 62.7 62.0 63.9 63.6 63.6 34

 35 Credit unions 701.1 734.6 758.6 796.2 842.3 814.6 829.1 837.8 842.3 855.1 867.1 35

 36 Property-casualty insurance companies 853.4 886.7 890.6 926.8 924.3 923.4 920.6 920.9 924.3 929.4 930.4 36

 37 Life insurance companies 2882.8 3022.6 3174.2 3297.9 3371.5 3333.6 3307.7 3349.5 3371.5 3397.7 3407.6 37

 38 Private pension funds 782.7 795.5 918.6 991.8 1003.7 1002.4 1006.3 1004.8 1003.7 1010.6 1027.0 38

 39 State and local govt. retirement funds 823.0 737.2 759.3 759.6 757.6 767.6 760.7 751.6 757.6 763.1 780.7 39

 40 Federal government retirement funds 123.3 130.7 141.5 161.6 175.5 163.0 167.2 169.5 175.5 173.3 173.7 40

 41 Money market mutual funds 2689.9 2070.0 1673.4 1663.6 1580.9 1600.7 1528.4 1520.2 1580.9 1562.8 1550.9 41

 42 Mutual funds 2229.2 2616.3 2969.9 3329.3 3981.3 3540.0 3699.5 3851.6 3981.3 4187.5 4250.8 42

 43 Closed-end funds 130.4 141.1 146.3 144.5 156.1 147.4 148.7 152.4 156.1 163.7 168.5 43

 44 Exchange-traded funds 57.1 103.0 132.7 178.8 231.1 195.1 213.5 221.1 231.1 238.2 241.4 44

 45 Government-sponsored enterprises 3037.5 2714.4 6360.5 6158.2 5935.1 6121.9 6033.0 5971.7 5935.1 5920.4 5976.0 45

 46 Agency- and GSE-backed mortgage pools 4961.4 5376.7 1139.5 1304.8 1437.0 1329.9 1377.3 1408.0 1437.0 1462.7 1485.8 46

 47 ABS issuers 4002.8 3224.0 2179.1 1936.5 1727.0 1878.9 1820.6 1760.0 1727.0 1668.5 1631.8 47

 48 Finance companies 1734.4 1516.7 1405.4 1359.5 1326.3 1347.6 1331.1 1329.0 1326.3 1316.4 1314.7 48

 49 REITs 177.6 168.9 206.0 308.9 436.6 365.9 388.5 451.4 436.6 429.4 413.5 49

 50 Brokers and dealers 717.4 525.3 557.5 563.2 652.3 610.7 600.5 589.1 652.3 602.7 516.9 50

 51 Holding companies 73.0 75.8 97.9 101.1 219.5 223.0 183.4 229.9 219.5 226.0 239.2 51

 52 Funding corporations 987.9 733.2 820.9 843.4 940.4 862.5 927.8 928.5 940.4 946.6 955.8 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; amounts outstanding end of period, not seasonally adjusted

2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Domestic 34689.2 35634.5 37040.0 38418.3 40280.0 38866.1 39260.7 39597.7 40280.0 40721.9 40938.4 1

 2 By instrument 34689.2 35634.5 37040.0 38418.3 40280.0 38866.1 39260.7 39597.7 40280.0 40721.9 40938.4 2

 3 Commercial paper 131.5 58.4 82.9 116.3 130.3 127.6 132.1 136.0 130.3 140.1 147.2 3

 4 Treasury securities 6338.2 7781.9 9361.5 10428.3 11568.9 10827.5 11025.6 11255.5 11568.9 11905.5 11887.9 4

 5 Agency- and GSE-backed securities 23.3 23.5 24.2 25.3 24.9 24.4 24.5 24.4 24.9 24.6 25.0 5

 6 Municipal securities 3517.2 3672.5 3772.1 3719.4 3714.4 3720.0 3732.4 3719.4 3714.4 3728.6 3721.1 6

 7 Corporate bonds 3954.5 4366.2 4804.8 5215.6 5795.2 5346.4 5452.9 5599.7 5795.2 5937.7 6077.4 7

 8 Depository institution loans n.e.c. 1852.6 1500.2 1465.5 1542.6 1746.4 1585.7 1685.6 1645.7 1746.4 1744.0 1787.2 8

 9 Other loans and advances 1707.3 1458.4 1269.4 1332.6 1375.4 1318.4 1314.5 1363.3 1375.4 1378.9 1402.3 9

 10 Mortgages 14513.3 14219.9 13611.4 13280.9 13000.2 13167.0 13094.2 12994.4 13000.2 12938.1 12924.1 10

 11 Home 11108.0 10896.7 10437.3 10182.8 9929.1 10094.2 10034.7 9943.2 9929.1 9875.9 9833.3 11

 12 Multifamily residential 823.7 828.7 823.8 829.4 854.2 828.1 835.1 843.4 854.2 858.1 868.3 12

 13 Commercial 2446.9 2348.4 2196.2 2101.6 2043.9 2076.0 2054.3 2036.3 2043.9 2029.5 2046.4 13

 14 Farm 134.7 146.0 154.1 167.2 173.0 168.6 170.1 171.5 173.0 174.5 176.0 14

 15 Consumer credit 2651.4 2553.5 2648.1 2757.2 2924.3 2749.1 2799.0 2859.3 2924.3 2924.4 2966.2 15

 16 By sector 34689.2 35634.5 37040.0 38418.3 40280.0 38866.1 39260.7 39597.7 40280.0 40721.9 40938.4 16

 17 Household sector 13805.8 13533.9 13196.8 13017.0 12979.7 12943.5 12983.7 12886.7 12979.7 12925.1 12932.5 17

 18 Nonfinancial business 11666.5 11326.7 11419.6 11962.5 12726.5 12084.4 12233.6 12445.8 12726.5 12871.8 13106.6 18

 19 Corporate 7573.3 7342.2 7473.3 7991.0 8686.9 8107.3 8241.8 8438.7 8686.9 8825.9 9026.7 19

 20 Noncorporate 4093.2 3984.5 3946.3 3971.4 4039.6 3977.1 3991.7 4007.2 4039.6 4045.9 4080.0 20

 21 State and local governments 2855.4 2968.4 3038.0 2985.3 2980.0 2986.3 2993.3 2985.3 2980.0 2994.8 2986.4 21

 22 Federal government 6361.5 7805.4 9385.6 10453.6 11593.7 10851.9 11050.1 11279.9 11593.7 11930.1 11912.9 22

 Foreign credit market debt

 23 held in U.S. 1708.8 2090.3 2267.2 2452.9 2712.0 2503.4 2496.5 2615.9 2712.0 2791.5 2722.2 23

 24 Commercial paper 342.0 401.3 398.6 345.1 373.0 362.6 357.4 366.7 373.0 407.4 417.4 24

 25 Bonds 1237.3 1570.3 1731.3 1939.9 2140.7 1960.5 1946.5 2052.0 2140.7 2174.6 2088.8 25

 26 Depository institution loans n.e.c. 107.9 96.8 115.1 144.3 165.5 153.6 164.8 167.0 165.5 176.8 183.2 26

 27 Other loans and advances 21.6 21.9 22.1 23.5 32.8 26.7 27.8 30.2 32.8 32.7 32.8 27

 28 Domestic and foreign 36398.0 37724.8 39307.2 40871.1 42992.0 41369.5 41757.2 42213.6 42992.0 43513.4 43660.6 28

L.3 Credit Market Debt Owed by Financial Sectors

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

 1 By instrument 17101.1 15688.5 14485.7 14046.3 13912.2 13990.4 13834.5 13952.1 13912.2 13874.0 13902.3 1

 2 Open market paper 1126.3 678.2 576.0 507.9 449.1 504.3 472.6 454.6 449.1 453.8 426.0 2

 3 GSE issues 3181.9 2706.6 6434.5 6247.3 6092.7 6178.6 6139.8 6111.5 6092.7 6103.5 6137.6 3

 4 Agency- and GSE-backed mortgage pool sec. 4961.4 5376.7 1139.5 1304.8 1437.0 1329.9 1377.3 1408.0 1437.0 1462.7 1485.8 4

 5 Corporate bonds 5977.9 5717.5 5321.8 4997.1 4986.4 5046.1 4946.7 5020.2 4986.4 4917.7 4860.0 5

 6 Depository institution loans n.e.c. 789.5 424.7 373.7 399.9 338.7 362.6 299.7 365.3 338.7 333.9 347.6 6

 7 Other loans and advances 900.5 617.9 473.2 413.1 416.6 390.2 413.3 404.4 416.6 409.7 452.9 7

 8 Mortgages 163.5 166.9 167.1 176.2 191.8 178.8 185.0 188.0 191.8 192.8 192.5 8

 9 By sector 17101.1 15688.5 14485.7 14046.3 13912.2 13990.4 13834.5 13952.1 13912.2 13874.0 13902.3 9

 10 U.S.-chartered depository institutions 990.3 718.1 942.6 868.7 840.3 840.8 844.7 822.2 840.3 820.7 848.4 10

 11 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 0.0 11

 12 Credit unions 40.6 26.5 26.1 24.2 25.1 22.9 23.7 24.4 25.1 22.2 23.5 12

 13 Life insurance companies 54.9 48.3 45.1 46.8 51.6 48.5 52.4 52.4 51.6 52.9 54.5 13

 14 Government-sponsored enterprises 3181.9 2706.6 6434.5 6247.3 6092.7 6178.6 6139.8 6111.5 6092.7 6103.5 6137.6 14

 15 Agency- and GSE-backed mortgage pools 4961.4 5376.7 1139.5 1304.8 1437.0 1329.9 1377.3 1408.0 1437.0 1462.7 1485.8 15

 16 ABS issuers 4101.0 3287.6 2230.9 1984.1 1768.1 1924.2 1863.0 1801.4 1768.1 1708.6 1668.1 16

 17 Finance companies 1200.3 1044.1 1280.7 1262.6 1208.9 1251.5 1235.6 1246.0 1208.9 1190.8 1193.1 17

 18 REITs 367.4 317.4 315.2 343.4 386.3 350.1 364.4 371.2 386.3 386.1 393.6 18

 19 Brokers and dealers 142.6 92.9 129.7 91.8 90.2 98.0 102.1 85.8 90.2 89.1 103.1 19

 20 Holding companies 807.9 1253.7 1237.2 1220.8 1418.6 1303.9 1213.9 1428.7 1418.6 1412.4 1375.0 20

 21 Funding corporations 1252.8 816.8 704.2 651.8 593.5 642.0 617.4 600.5 593.5 625.0 619.7 21
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L.4 Credit Market Debt, All Sectors, by Instrument

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

2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Total 53499.1 53413.3 53792.9 54917.4 56904.3 55359.9 55591.7 56165.7 56904.3 57387.4 57562.9 1

 2 Open market paper 1599.8 1138.0 1057.6 969.3 952.4 994.4 962.0 957.3 952.4 1001.2 990.6 2

 3 Treasury securities 6338.2 7781.9 9361.5 10428.3 11568.9 10827.5 11025.6 11255.5 11568.9 11905.5 11887.9 3

 4 Agency- and GSE-backed securities 8166.7 8106.8 7598.2 7577.4 7554.6 7533.0 7541.7 7543.9 7554.6 7590.8 7648.4 4

 5 Municipal securities 3517.2 3672.5 3772.1 3719.4 3714.4 3720.0 3732.4 3719.4 3714.4 3728.6 3721.1 5

 6 Corporate and foreign bonds 11169.7 11654.0 11857.9 12152.6 12922.2 12353.0 12346.1 12671.9 12922.2 13030.0 13026.2 6

 7 Depository institution loans n.e.c. 2750.0 2021.7 1954.3 2086.8 2250.6 2101.9 2150.1 2178.0 2250.6 2254.7 2318.1 7

 8 Other loans and advances 2629.3 2098.1 1764.7 1769.3 1824.8 1735.3 1755.5 1797.8 1824.8 1821.2 1888.0 8

 9 Mortgages 14676.8 14386.7 13778.5 13457.1 13191.9 13345.8 13279.2 13182.5 13191.9 13130.9 13116.5 9

 10 Consumer credit 2651.4 2553.5 2648.1 2757.2 2924.3 2749.1 2799.0 2859.3 2924.3 2924.4 2966.2 10

 Memo:

 Selected claims not included above:

 11 Corporate equities 15640.5 20085.5 23565.4 23087.7 26445.3 25544.0 24577.8 26210.7 26445.3 28943.2 29410.6 11

 12 Mutual fund shares 5388.0 6920.7 7873.0 7870.9 9323.6 8797.4 8653.4 9131.0 9323.6 10087.4 10221.8 12

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

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

 Total credit market debt

 1 (from table L.4) 53499.1 53413.3 53792.9 54917.4 56904.3 55359.9 55591.7 56165.7 56904.3 57387.4 57562.9 1

 2 U.S. official reserve assets 74.2 175.1 175.8 183.8 181.8 184.5 181.7 184.7 181.8 175.5 174.5 2

 3 SDR certificates 2.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 3

 4 Treasury currency 26.6 26.2 25.9 25.9 25.9 25.9 25.9 25.9 25.9 25.9 25.9 4

 5 Foreign deposits 946.7 835.9 826.6 780.3 750.1 765.0 737.1 772.3 750.1 774.3 861.9 5

 6 Net interbank liabilities 1922.9 1325.6 1189.3 2016.0 1831.4 2027.5 1999.3 1934.8 1831.4 2253.6 2715.7 6

 7 Checkable deposits and currency 2101.3 2093.4 2359.8 2594.3 2857.8 2520.5 2594.3 2640.4 2857.8 2878.1 2898.4 7

 8 Small time and savings deposits 5749.3 6326.5 6624.9 7202.2 7803.9 7410.5 7456.9 7595.4 7803.9 7869.1 7890.8 8

 9 Large time deposits 2191.6 1989.8 1807.5 1603.0 1508.5 1504.3 1511.1 1485.0 1508.5 1491.0 1527.7 9

 10 Money market fund shares 3757.3 3258.6 2755.4 2642.5 2649.6 2535.5 2467.9 2506.9 2649.6 2554.0 2541.9 10

 11 Security RPs 1262.5 1496.9 1276.0 1148.0 1122.9 1194.6 1181.9 1149.0 1122.9 1126.9 1054.7 11

 12 Mutual fund shares 5388.0 6920.7 7873.0 7870.9 9323.6 8797.4 8653.4 9131.0 9323.6 10087.4 10221.8 12

 13 Security credit 1128.5 1091.2 1214.8 1312.6 1512.5 1375.5 1410.2 1482.4 1512.5 1492.1 1511.5 13

 14 Life insurance reserves 1179.8 1242.1 1278.3 1352.0 1359.0 1366.9 1342.3 1353.2 1359.0 1370.0 1374.6 14

 15 Pension entitlements 14061.8 15205.4 16745.0 17115.2 18075.1 17641.6 17588.7 17928.7 18075.1 18560.9 18736.6 15

 16 Trade payables 3226.9 3214.9 3441.4 3494.2 3670.3 3548.7 3606.0 3645.6 3670.3 3718.2 3740.3 16

 17 Taxes payable 44.0 40.6 53.1 74.0 81.4 84.5 82.1 92.5 81.4 99.4 77.4 17

 18 Miscellaneous 22593.5 22503.3 23297.3 24014.4 24701.5 24185.4 24231.6 24574.0 24701.5 24613.6 24591.6 18

 19 Total liabilities 119155.9 121164.5 124742.1 128352.1 134364.8 130533.5 130667.3 132672.9 134364.8 136482.6 137513.5 19

 + Financial assets not included in

 liabilities:

 20 Gold 11.0 11.0 11.0 11.0 11.0 11.0 11.0 11.0 11.0 11.0 11.0 20

 21 Corporate equities 15640.5 20085.5 23565.4 23087.7 26445.3 25544.0 24577.8 26210.7 26445.3 28943.2 29410.6 21

 22 Household equity in noncorp. bus. 7556.4 6324.1 7019.1 7528.4 8186.3 7625.1 7744.5 8018.4 8186.3 8205.9 8373.8 22

 - Liabilities not identified as assets:

 23 Treasury currency -12.1 -16.5 -17.6 -18.3 -18.8 -18.5 -18.6 -18.7 -18.8 -19.0 -19.2 23

 24 Foreign deposits 779.5 657.0 630.4 655.6 648.4 657.2 649.5 675.8 648.4 650.3 733.5 24

 25 Net interbank transactions -17.5 5.1 23.8 26.4 54.0 30.0 17.0 64.9 54.0 83.2 54.4 25

 26 Security RPs 130.1 507.8 397.6 282.9 101.1 273.7 238.6 127.1 101.1 19.9 -11.9 26

 27 Taxes payable -193.3 -204.4 -195.9 -188.8 -189.0 -181.5 -187.4 -176.5 -189.0 -176.1 -206.0 27

 28 Miscellaneous -7931.4 -7909.2 -8515.7 -9715.4 -10604.3 -9760.2 -10223.6 -10146.0 -10604.3 -10563.9 -10916.0 28

 - Floats not included in assets:

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

 30 Federal govt. 1.2 2.0 2.5 2.5 2.3 2.9 3.4 3.2 2.3 1.5 1.1 30

 31 Private domestic 5.3 4.2 3.2 4.1 4.7 3.7 3.8 3.7 4.7 3.1 3.8 31

 32 Trade credit 138.5 241.0 305.0 245.9 304.8 193.3 168.9 185.1 304.8 242.2 205.7 32

 33 Totals identified to sectors as assets 148187.2 153166.6 161355.4 166069.3 177216.7 171112.3 170827.1 174741.2 177216.7 182096.0 184168.4 33
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12 Z.1, September 25, 2013

F.6 Distribution of Gross Domestic Product (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Gross Domestic Product (GDP) 14720.3 14417.9 14958.3 15533.8 16244.6 16041.6 16160.4 16356.0 16420.3 16535.3 16667.9 1

 2 Personal consumption expenditures (2) 10005.5 9842.9 10201.9 10711.8 11149.6 11019.1 11100.2 11193.6 11285.5 11379.2 11429.9 2

 3 Durable goods 1102.3 1023.3 1070.7 1129.9 1202.7 1184.3 1189.3 1206.5 1230.7 1244.8 1257.2 3

 4 Nondurable goods 2273.4 2175.1 2292.1 2472.8 2567.0 2545.0 2549.2 2578.4 2595.4 2607.0 2591.9 4

 5 Services 6629.8 6644.5 6839.1 7109.1 7379.9 7289.7 7361.8 7408.7 7459.4 7527.4 7580.8 5

 6 Gross private domestic investment 2424.8 1878.1 2100.8 2232.1 2475.2 2453.6 2454.0 2493.3 2499.9 2555.1 2626.1 6

 7 Fixed investment (3) 2456.8 2025.7 2039.3 2195.7 2409.1 2350.7 2387.1 2411.7 2486.9 2491.7 2541.1 7

 8 Nonresidential 1941.0 1633.4 1658.2 1809.9 1970.0 1932.3 1961.4 1968.0 2018.2 2001.4 2029.3 8

 9 Household sector (nonprofit organizations) 155.1 147.1 134.1 139.6 143.8 144.1 144.1 142.8 144.1 145.7 146.3 9

 10 Nonfinancial corporate business 1365.8 1136.6 1176.5 1296.0 1420.2 1392.5 1413.6 1419.5 1455.3 1442.6 1462.6 10

 11 Nonfinancial noncorporate business 223.8 182.9 184.9 199.1 212.5 205.4 212.1 213.0 219.6 210.0 216.7 11

 12 Financial institutions 196.2 166.9 162.8 175.2 193.4 190.3 191.5 192.7 199.1 203.1 203.8 12

 13 Residential 515.9 392.2 381.1 385.8 439.1 418.4 425.7 443.7 468.8 490.3 511.7 13

 14 Household sector 425.3 321.0 318.3 317.1 354.3 338.7 343.5 357.4 377.7 392.1 410.8 14

 15 Nonfinancial corporate business 6.8 5.5 -0.1 3.0 13.3 10.6 11.2 14.6 16.9 21.7 23.9 15

 16 Nonfinancial noncorporate business 83.7 65.8 58.3 59.5 66.2 64.2 64.6 66.6 69.4 71.6 74.9 16

 17 REITs 0.1 -0.1 4.7 6.3 5.3 4.9 6.4 5.1 4.9 4.9 2.2 17

 18 Change in private inventories -32.0 -147.6 61.5 36.4 66.1 102.9 66.8 81.6 13.0 63.4 85.0 18

 19 Nonfinancial corporate business -31.6 -139.0 63.7 39.1 71.0 97.8 68.7 94.3 23.3 33.0 51.2 19

 20 Nonfinancial noncorporate business -0.4 -8.5 -2.2 -2.7 -4.9 5.1 -1.9 -12.7 -10.3 30.5 33.8 20

 21 Net U.S. exports of goods and services -713.2 -392.2 -518.5 -568.7 -547.2 -590.8 -557.9 -524.4 -515.8 -523.1 -506.1 21

 22 Exports 1843.1 1583.8 1843.5 2101.1 2195.9 2173.4 2197.4 2199.2 2213.7 2214.2 2242.2 22

 23 - Imports 2556.4 1976.0 2362.0 2669.9 2743.1 2764.2 2755.3 2723.5 2729.5 2737.3 2748.3 23

 Government consumption expenditures and

 24 gross investment 3003.2 3089.1 3174.0 3158.7 3167.0 3159.7 3164.1 3193.5 3150.7 3124.1 3118.0 24

 25 Consumption expenditures (4) 2368.6 2442.1 2522.2 2526.1 2548.0 2542.3 2538.8 2572.9 2538.1 2525.3 2518.1 25

 26 Federal 879.8 933.7 1003.9 1008.7 1011.7 1009.3 1007.4 1036.1 993.9 982.3 975.9 26

 27 State and local 1488.7 1508.4 1518.3 1517.4 1536.4 1533.0 1531.3 1536.8 1544.3 1543.0 1542.2 27

 28 Gross investment (4) 634.6 647.0 651.8 632.6 619.0 617.3 625.3 620.6 612.5 598.8 599.9 28

 29 Federal 275.8 284.0 300.0 295.4 284.0 282.4 286.4 286.0 281.4 272.7 276.8 29

 30 State and local 358.8 363.0 351.9 337.2 334.9 334.9 339.0 334.6 331.2 326.1 323.1 30

 Memo:

 31 Net U.S. income receipts from rest of the world 173.0 147.2 206.0 260.8 252.8 248.0 258.7 247.6 257.0 237.4 257.4 31

 32 U.S. income receipts 856.8 643.7 720.0 802.8 818.6 818.0 814.4 812.0 829.8 813.3 815.6 32

 33 - U.S. income payments 683.8 496.5 514.1 542.1 565.7 570.0 555.7 564.4 572.8 575.9 558.2 33

 Gross National Product (GNP) =

 34 GDP + net U.S. income receipts 14893.2 14565.1 15164.2 15794.6 16497.4 16289.6 16419.2 16603.7 16677.3 16772.7 16925.2 34

 Acquisition of nonproduced nonfinancial assets (net)

 35 Household sector -11.0 -9.7 -8.5 -8.3 -8.4 -8.5 -8.5 -8.5 -8.3 -8.1 -7.9 35

 36 Nonfinancial corporate business 17.6 6.3 -1.1 -0.9 -0.4 -0.4 -0.5 -0.4 -0.4 -1.0 -0.9 36

 37 State and local governments 13.8 12.3 10.6 10.1 10.2 10.3 10.3 10.2 10.1 9.8 9.6 37

 38 Federal governments -20.4 -8.9 -1.0 -0.9 -1.4 -1.4 -1.3 -1.4 -1.4 -0.6 -0.8 38

 39 Rest of the world -0.0 0.0 -0.0 -0.1 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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Z.1, September 25, 2013 13

F.7 Distribution of National Income (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1 Q2

 1 National Income 12430.8 12124.5 12739.5 13395.7 13971.6 13845.0 13875.3 13962.1 14204.0 14324.5 14447.6 1

 2 Compensation of employees 8079.2 7787.8 7967.3 8278.5 8611.6 8514.3 8553.8 8591.0 8787.4 8748.3 8811.7 2

 3 Wages and other labor income 7607.9 7329.7 7497.9 7784.1 8097.3 8004.4 8042.6 8078.8 8263.4 8222.5 8283.1 3

 4 Employer social insurance contributions 471.3 458.1 469.4 494.4 514.3 509.9 511.2 512.2 524.0 525.8 528.6 4

 Proprietors’ income with inventory

 5 valuation and capital consumption adjustments 1026.5 973.0 1032.7 1155.1 1224.9 1214.4 1217.8 1220.0 1247.5 1334.6 1333.3 5

 Rental income of persons (with capital

 6 consumption adjustment) 262.1 333.7 402.8 484.4 541.2 524.8 537.8 546.7 555.4 574.9 587.7 6

 Corporate profits with inventory

 7 valuation and capital consumption adjustments 1285.1 1392.6 1740.6 1877.7 2009.5 1979.9 1998.4 2012.3 2047.2 2020.6 2098.9 7

 Corporate profits with inventory

 8 valuation adjustment 1345.5 1474.8 1793.8 1791.3 2180.0 2142.5 2169.8 2186.6 2221.1 2180.0 2260.0 8

 9 Profits before tax 1382.4 1468.2 1834.8 1847.4 2190.0 2162.1 2160.0 2208.5 2229.5 2193.1 2249.0 9

 10 Domestic nonfinancial 880.3 752.5 1034.3 1026.7 1293.7 1283.7 1282.9 1288.8 1319.4 1307.7 1335.2 10

 11 Domestic financial 95.4 362.9 405.3 384.1 477.4 462.5 447.7 507.2 492.1 486.9 501.8 11

 12 Rest of the world 406.7 352.8 395.2 436.6 418.9 415.9 429.3 412.5 418.1 398.5 412.1 12

 Less:

 13 Taxes on corporate income 309.1 269.4 370.6 374.2 434.8 437.2 429.7 439.1 433.2 408.2 418.7 13

 14 Domestic nonfinancial 227.4 177.8 220.6 222.3 256.9 252.5 257.8 249.1 268.4 266.6 266.7 14

 15 Domestic financial 81.7 91.6 150.0 151.9 177.8 184.6 171.9 190.0 164.8 141.7 152.0 15

 Equals:

 16 Profits after tax 1073.3 1198.7 1464.3 1473.1 1755.2 1724.9 1730.3 1769.4 1796.4 1784.8 1830.4 16

 17 Net dividends 808.6 568.7 563.9 701.6 770.3 727.4 739.6 746.7 867.6 763.8 1037.6 17

 18 Domestic nonfinancial 474.2 351.7 375.5 440.3 478.8 456.0 457.5 461.2 540.4 483.3 652.2 18

 19 Domestic financial 153.9 105.1 67.1 104.8 134.8 113.1 115.0 116.1 194.9 133.3 206.4 19

 20 Rest of the world 180.5 111.9 121.4 156.4 156.8 158.3 167.1 169.4 132.3 147.2 179.0 20

 21 Undistributed profits 264.7 630.0 900.3 771.6 984.9 997.5 990.7 1022.7 928.7 1021.0 792.8 21

 22 Domestic nonfinancial 178.7 222.9 438.3 364.1 558.0 575.2 567.6 578.5 510.6 557.8 416.3 22

 23 Domestic financial -140.2 166.1 188.3 127.3 164.7 164.7 160.8 201.1 132.3 212.0 143.4 23

 24 Rest of the world 226.2 240.9 273.8 280.1 262.2 257.5 262.2 243.1 285.8 251.3 233.1 24

 25 Inventory valuation adjustment -37.0 6.7 -41.0 -56.0 -10.0 -19.5 9.8 -22.0 -8.4 -13.0 11.0 25

 26 Capital consumption adjustment -60.4 -82.2 -53.3 86.4 -170.5 -162.7 -171.4 -174.2 -173.9 -159.5 -161.1 26

 27 Domestic nonfinancial -29.1 -41.1 -15.2 114.9 -115.1 -108.5 -116.1 -118.4 -117.6 -104.3 -105.4 27

 28 Domestic financial -31.4 -41.2 -38.1 -28.5 -55.4 -54.1 -55.3 -55.9 -56.3 -55.2 -55.7 28

 29 Net interest and miscellaneous payments 693.4 563.1 489.4 456.9 439.6 453.9 419.0 455.3 430.3 477.0 449.0 29

 30 Taxes on production and imports 1041.9 1026.1 1057.1 1097.1 1122.9 1124.4 1122.2 1118.8 1126.3 1140.7 1139.2 30

 31 Less: Subsidies 52.6 58.3 55.9 60.0 57.3 57.8 57.6 56.0 57.7 58.0 58.8 31

 32 Business current transfer payments (net) 116.4 127.2 128.5 129.6 106.9 115.7 110.0 102.6 99.5 121.9 125.7 32

 33 Current surplus of government enterprises -21.2 -20.6 -22.9 -23.8 -27.7 -24.5 -26.1 -28.5 -31.8 -35.5 -38.9 33

 Memo:

 Calculation of Gross Domestic Product

 from National Income: (2)

 34 National Income, from line 1 above 12430.8 12124.5 12739.5 13395.7 13971.6 13845.0 13875.3 13962.1 14204.0 14324.5 14447.6 34

 Plus:

 35 Private consumption of fixed capital 1936.9 1925.7 1923.5 1974.4 2049.3 2018.7 2041.0 2059.8 2077.6 2103.3 2128.9 35

 36 Government consumption of fixed capital 426.5 442.7 458.1 478.1 493.6 488.9 492.7 495.3 497.4 500.5 503.5 36

 37 Statistical discrepancy 99.0 72.2 43.1 -53.6 -17.0 -63.0 10.1 86.4 -101.7 -155.6 -154.8 37

 Less:

 38 Net U.S. income receipts from rest of the world 173.0 147.2 206.0 260.8 252.8 248.0 258.7 247.6 257.0 237.4 257.4 38

 Equals:

 39 Gross Domestic Product 14720.3 14417.9 14958.3 15533.8 16244.6 16041.6 16160.4 16356.0 16420.3 16535.3 16667.9 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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F.8 Saving and Investment by Sector (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Gross saving 2281.9 2071.7 2255.0 2461.4 2672.2 2645.0 2624.6 2606.4 2812.8 2871.5 2976.9 1

 2 Net saving -81.5 -296.6 -126.6 8.8 129.3 137.4 90.9 51.2 237.8 267.6 344.5 2

 3 Net private saving 718.7 1225.1 1440.2 1470.2 1491.7 1472.6 1493.0 1430.6 1570.5 1350.5 1199.5 3

 4 Domestic business 167.3 554.4 806.0 801.9 804.3 815.3 829.1 826.5 746.4 848.5 642.6 4

 5 Nonfinancial corporate business 296.7 382.1 598.6 648.8 647.8 643.8 651.0 642.6 653.8 670.0 689.4 5

 6 Financial business -129.4 172.3 207.4 153.1 156.5 171.5 178.1 183.9 92.6 178.6 -46.8 6

 7 Households and institutions 551.3 670.7 634.2 668.2 687.4 657.3 663.9 604.1 824.1 502.0 556.9 7

 8 Net government saving -800.2 -1521.7 -1566.8 -1461.3 -1362.3 -1335.1 -1402.1 -1379.4 -1332.7 -1082.9 -855.0 8

 9 Federal -635.1 -1249.8 -1329.5 -1248.3 -1109.7 -1094.0 -1146.9 -1119.3 -1078.5 -853.1 -656.4 9

 10 State and local -165.1 -271.9 -237.3 -213.1 -252.7 -241.1 -255.2 -260.1 -254.2 -229.8 -198.7 10

 11 Consumption of fixed capital 2363.4 2368.4 2381.6 2452.6 2542.9 2507.6 2533.7 2555.1 2575.0 2603.8 2632.4 11

 12 Private 1936.9 1925.7 1923.5 1974.4 2049.3 2018.7 2041.0 2059.8 2077.6 2103.3 2128.9 12

 13 Domestic business 1522.3 1522.4 1523.0 1571.6 1639.4 1613.9 1633.7 1648.4 1661.4 1680.6 1699.0 13

 14 Nonfinancial corporate business 1093.9 1092.0 1094.6 1135.8 1188.2 1168.8 1184.1 1195.2 1204.7 1218.5 1231.5 14

 15 Nonfinancial noncorporate business 254.5 253.0 251.8 256.8 264.5 261.5 263.6 265.6 267.6 270.5 273.5 15

 16 Financial business 173.9 177.4 176.7 179.0 186.6 183.7 186.0 187.6 189.2 191.5 194.0 16

 17 Households and institutions 414.6 403.3 400.5 402.9 409.9 404.8 407.2 411.4 416.2 422.7 429.9 17

 18 Government 426.5 442.7 458.1 478.1 493.6 488.9 492.7 495.3 497.4 500.5 503.5 18

 19 Federal 226.3 234.5 245.3 256.5 262.3 260.4 261.9 262.9 263.7 265.6 266.9 19

 20 State and local 200.2 208.2 212.7 221.7 231.4 228.5 230.8 232.4 233.7 234.9 236.6 20

 Gross domestic investment, capital account

 21 transactions, and net lending, NIPAs 2380.9 2144.0 2298.1 2407.7 2655.2 2582.1 2634.7 2692.8 2711.1 2715.9 2822.1 21

 22 Gross domestic investment 3059.4 2525.1 2752.6 2864.7 3094.2 3071.0 3079.3 3113.9 3112.5 3153.9 3226.0 22

 23 Gross private domestic investment 2424.8 1878.1 2100.8 2232.1 2475.2 2453.6 2454.0 2493.3 2499.9 2555.1 2626.1 23

 24 Domestic business 1844.4 1410.0 1648.4 1775.4 1977.1 1970.8 1966.3 1993.1 1978.2 2017.4 2069.0 24

 25 Nonfinancial corporate business 1341.1 1002.9 1244.7 1344.4 1509.9 1500.3 1500.2 1536.0 1503.1 1495.1 1537.9 25

 26 Nonfinancial noncorporate business 307.1 240.2 241.0 255.8 273.8 280.1 274.7 264.4 276.0 319.2 327.3 26

 27 Financial business 196.2 166.9 162.8 175.2 193.4 190.3 191.5 192.7 199.1 203.1 203.8 27

 28 Households and institutions 580.4 468.1 452.4 456.7 498.1 482.8 487.6 500.2 521.8 537.7 557.1 28

 29 Gross government investment 634.6 647.0 651.8 632.6 619.0 617.3 625.3 620.6 612.5 598.8 599.9 29

 30 Federal 275.8 284.0 300.0 295.4 284.0 282.4 286.4 286.0 281.4 272.7 276.8 30

 31 State and local 358.8 363.0 351.9 337.2 334.9 334.9 339.0 334.6 331.2 326.1 323.1 31

 32 Capital account transactions (net) (2) -5.4 0.6 0.7 1.7 -6.6 0.4 1.4 2.3 -30.3 0.5 0.4 32

 33 Private -53.2 -121.4 -58.5 -47.4 -26.0 -26.6 -8.1 -7.4 -62.0 -3.3 1.5 33

 34 Domestic business -49.9 -83.4 -29.4 -41.3 -12.4 -25.2 -8.0 -9.4 -7.1 -10.7 -6.6 34

 35 Nonfinancial corporate business 13.9 44.6 19.8 -7.3 -17.1 -6.4 -8.0 -9.3 -44.8 -10.7 -6.6 35

 36 Nonfinancial noncorporate business -3.3 -6.0 -7.8 -1.6 -4.9 -0.0 -0.0 -0.0 -19.7 0.0 0.0 36

 37 Financial business -60.5 -121.9 -41.5 -32.4 9.6 -18.9 -0.1 0.0 57.3 0.0 0.0 37

 38 Households and institutions -3.3 -38.1 -29.1 -6.2 -13.6 -1.3 -0.1 2.0 -54.9 7.4 8.1 38

 39 Government 47.8 122.0 59.2 49.1 19.5 27.0 9.5 9.6 31.7 3.8 -1.2 39

 40 Federal 97.2 177.4 125.3 112.9 83.3 87.3 71.2 72.6 102.1 65.2 57.6 40

 41 State and local -49.4 -55.4 -66.2 -63.8 -63.9 -60.3 -61.7 -63.0 -70.4 -61.4 -58.8 41

 42 Net lending (+) or net borrowing (-), NIPAs (3) -673.1 -381.7 -455.2 -458.6 -432.4 -489.3 -445.9 -423.4 -371.1 -438.5 -404.3 42

 43 Private 382.9 1466.3 1364.6 1206.3 1074.7 1001.2 1098.2 1090.9 1108.4 746.4 546.0 43

 44 Domestic business -5.8 822.4 753.2 585.7 462.0 420.6 514.7 577.7 335.1 366.8 124.4 44

 45 Nonfinancial corporate business (3) 134.7 498.9 471.8 393.9 326.2 255.6 353.1 397.6 298.4 248.5 234.8 45

 46 Nonfinancial noncorporate business -49.3 18.8 18.6 2.5 -4.3 -18.7 -11.1 1.2 11.2 -48.6 -53.8 46

 47 Financial business -91.2 304.7 262.8 189.3 140.2 183.7 172.7 178.9 25.4 167.0 -56.6 47

 48 Households and institutions 388.8 643.9 611.4 620.6 612.7 580.6 583.6 513.3 773.4 379.6 421.6 48

 49 Government -1056.1 -1848.0 -1819.8 -1664.9 -1507.1 -1490.5 -1544.2 -1514.3 -1479.5 -1184.9 -950.3 49

 50 Federal -781.8 -1476.7 -1509.5 -1400.1 -1214.8 -1203.3 -1242.5 -1215.0 -1198.3 -925.4 -723.9 50

 51 State and local -274.3 -371.4 -310.3 -264.8 -292.4 -287.2 -301.7 -299.3 -281.2 -259.6 -226.4 51

 52 Statistical discrepancy (line 21 less line 1) 99.0 72.2 43.1 -53.6 -17.0 -63.0 10.1 86.4 -101.7 -155.6 -154.8 52

 Addenda:

 53 Disaster losses 19.1 0.0 0.0 0.0 45.9 0.0 0.0 0.0 183.7 0.0 0.0 53

 54 Private 19.1 0.0 0.0 0.0 38.3 0.0 0.0 0.0 153.3 0.0 0.0 54

 55 Domestic business 10.8 0.0 0.0 0.0 17.5 0.0 0.0 0.0 69.9 0.0 0.0 55

 56 Households and institutions 8.3 0.0 0.0 0.0 20.9 0.0 0.0 0.0 83.5 0.0 0.0 56

 57 Government 0.0 0.0 0.0 0.0 7.6 0.0 0.0 0.0 30.4 0.0 0.0 57

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

 59 State and local 0.0 0.0 0.0 0.0 7.6 0.0 0.0 0.0 30.4 0.0 0.0 59

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

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

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

(3) Differs from net lending or net borrowing (capital account) in the Integrated Macroeconomic Accounts of the United States by the statistical discrepancy (line 52).
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F.9 Net Capital Transfers (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Capital transfers paid, by sector 193.5 272.2 186.7 137.9 139.8 118.1 104.0 108.3 228.6 106.1 99.2 1

 2 By private business 7.6 40.4 25.8 0.0 14.3 0.0 0.0 0.0 57.3 0.0 0.0 2

 3 Financial corporations 7.6 0.0 0.0 0.0 14.3 0.0 0.0 0.0 57.3 0.0 0.0 3

 4 Disaster-related insurance benefits 7.6 0.0 0.0 0.0 14.3 0.0 0.0 0.0 57.3 0.0 0.0 4

 5 Other 0.0 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 40.4 25.8 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 0.0 7

 8 By government 145.9 206.9 141.4 123.4 98.7 100.9 85.7 88.7 119.6 83.4 76.2 8

 9 Federal 145.9 206.9 141.4 123.4 98.7 100.9 85.7 88.7 119.6 83.4 76.2 9

 10 Investment grants to state and local govts. 57.6 63.4 72.1 69.0 66.5 65.7 67.1 68.3 65.0 66.2 63.2 10

 11 Disaster-related insurance benefits 2.8 0.0 0.0 0.0 7.6 0.0 0.0 0.0 30.6 0.0 0.0 11

 12 Financial stabilization payments 67.7 121.9 41.5 32.4 4.7 18.9 0.1 0.0 0.0 0.0 0.0 12

 13 Other capital transfers paid to business 0.1 8.1 12.7 8.0 8.2 6.0 7.4 9.0 10.2 9.6 5.7 13

 14 Other capital transfers paid to persons 16.9 12.9 14.5 12.4 10.6 10.0 9.8 9.2 13.4 7.2 6.9 14

 15 Capital transfers paid to the rest of the world (net) 0.8 0.6 0.7 1.6 1.1 0.4 1.4 2.3 0.4 0.4 0.4 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 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 0.0 17

 18 By persons 33.9 24.9 19.5 14.5 19.0 17.2 18.2 19.6 21.0 22.6 23.0 18

 19 Estate and gift taxes, federal 28.3 20.6 15.1 9.6 14.1 12.2 13.3 14.7 16.1 17.6 17.8 19

 20 Estate and gift taxes, state and local 5.6 4.3 4.4 4.9 4.9 4.9 4.9 4.9 4.9 5.0 5.2 20

 21 By the rest of the world 6.2 0.0 0.0 0.0 7.7 0.0 0.0 0.0 30.7 0.0 0.0 21

 22 Disaster-related insurance benefits 6.2 0.0 0.0 0.0 7.7 0.0 0.0 0.0 30.7 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 0.0 23

 24 Capital transfers received, by sector 193.5 272.2 186.7 137.9 139.8 118.1 104.0 108.3 228.6 106.1 99.2 24

 25 By private business 75.0 130.0 54.2 40.4 26.3 24.8 7.5 9.0 64.1 9.6 5.7 25

 26 Financial corporations 68.1 121.9 41.5 32.4 4.7 18.9 0.1 0.0 0.0 0.0 0.0 26

 27 Disaster-related insurance benefits 0.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

 28 Other 67.7 121.9 41.5 32.4 4.7 18.9 0.1 0.0 0.0 0.0 0.0 28

 29 Nonfinancial corporations 3.7 2.1 4.9 6.4 16.7 6.0 7.4 9.0 44.4 9.6 5.7 29

 30 Disaster-related insurance benefits 3.6 0.0 0.0 0.0 8.5 0.0 0.0 0.0 34.2 0.0 0.0 30

 31 Other 0.1 2.1 4.9 6.4 8.1 6.0 7.4 9.0 10.2 9.6 5.7 31

 32 Noncorporate business 3.3 6.0 7.8 1.6 4.9 0.0 0.0 0.0 19.7 0.0 0.0 32

 33 Disaster-related insurance benefits 3.3 0.0 0.0 0.0 4.9 0.0 0.0 0.0 19.6 0.0 0.0 33

 34 Other 0.0 6.0 7.8 1.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 34

 35 By government 91.5 88.3 91.8 83.5 88.2 82.8 85.3 87.9 96.6 88.8 86.2 35

 36 Federal 28.3 20.6 15.1 9.6 14.1 12.2 13.3 14.7 16.1 17.6 17.8 36

 37 Estate and gift taxes paid by persons 28.3 20.6 15.1 9.6 14.1 12.2 13.3 14.7 16.1 17.6 17.8 37

 38 State and local 63.2 67.7 76.7 73.9 74.1 70.6 72.0 73.2 80.5 71.3 68.4 38

 39 Disaster-related insurance benefits 0.0 0.0 0.0 0.0 2.7 0.0 0.0 0.0 10.6 0.0 0.0 39

 40 Estate and gift taxes paid by persons 5.6 4.3 4.4 4.9 4.9 4.9 4.9 4.9 4.9 5.0 5.2 40

 41 Investment grants paid by federal government 57.6 63.4 72.1 69.0 66.5 65.7 67.1 68.3 65.0 66.2 63.2 41

 42 Other 0.0 0.0 0.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 42

 43 By persons 26.2 53.3 40.1 12.4 24.1 10.0 9.8 9.2 67.5 7.2 6.9 43

 44 Disaster-related insurance benefits 9.3 0.0 0.0 0.0 13.5 0.0 0.0 0.0 54.1 0.0 0.0 44

 45 Other 16.9 53.3 40.1 12.4 10.6 10.0 9.8 9.2 13.4 7.2 6.9 45

 46 By the rest of the world 0.8 0.6 0.7 1.6 1.1 0.4 1.4 2.3 0.4 0.4 0.4 46

 47 Capital transfers paid by U.S. government 0.8 0.6 0.7 1.6 1.1 0.4 1.4 2.3 0.4 0.4 0.4 47

 48 Other 0.0 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) -67.5 -89.6 -28.3 -40.4 -12.0 -24.8 -7.5 -9.0 -6.7 -9.6 -5.7 49

 50 Financial corporations (lines 3-26) -60.5 -121.9 -41.5 -32.4 9.6 -18.9 -0.1 0.0 57.3 0.0 0.0 50

 51 Property-casualty insurance companies (line 4) 7.6 0.0 0.0 0.0 14.3 0.0 0.0 0.0 57.3 0.0 0.0 51

 52 U.S.-chartered depository institutions -29.7 -18.2 2.4 3.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 52

 53 Financial stabilization payments (2) -29.3 -18.2 2.4 3.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 53

 54 Other (lines 5-27) -0.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 54

 55 Government-sponsored enterprises (2) -6.9 -87.1 -40.2 -31.9 -4.7 -18.9 -0.1 0.0 0.0 0.0 0.0 55

 56 Holding companies (GMAC) (2) -3.2 -11.3 -1.5 -0.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 56

 57 Funding corporations (AIG) (2) -28.3 -5.3 -2.2 -3.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 57

 58 Nonfinancial corporations (lines 6-29) -3.7 38.3 20.9 -6.4 -16.7 -6.0 -7.4 -9.0 -44.4 -9.6 -5.7 58

 59 Noncorporate business (lines 7-32) -3.3 -6.0 -7.8 -1.6 -4.9 -0.0 -0.0 -0.0 -19.7 0.0 0.0 59

 60 By government (lines 8-35) 54.4 118.6 49.6 39.9 10.6 18.1 0.4 0.8 23.0 -5.4 -10.0 60

 61 Federal (lines 9-36) 117.6 186.3 126.3 113.8 84.7 88.7 72.4 74.0 103.5 65.8 58.4 61

 62 State and local (lines 16-38) -63.2 -67.7 -76.7 -73.9 -74.1 -70.6 -72.0 -73.2 -80.5 -71.3 -68.4 62

 63 By persons (lines 18-43) 7.7 -28.4 -20.6 2.1 -5.1 7.2 8.5 10.4 -46.5 15.5 16.0 63

 64 By the rest of the world (lines 21-46) 5.4 -0.6 -0.7 -1.6 6.6 -0.4 -1.4 -2.3 30.3 -0.4 -0.4 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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F.10 Derivation of Measures of Personal Saving (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Net acquisition of financial assets 1100.8 593.8 854.5 1190.7 1089.5 549.1 1517.0 590.0 1701.9 1481.1 937.8 1

 2 Foreign deposits -23.7 -6.6 -0.6 -2.8 -1.8 -3.7 -6.7 8.5 -5.3 5.8 21.0 2

 3 Checkable deposits and currency 250.5 50.6 33.1 322.0 95.6 67.5 -39.9 40.3 314.3 142.1 -80.6 3

 4 Time and savings deposits 189.2 172.8 154.4 358.2 413.9 462.1 394.2 150.9 648.3 146.3 278.0 4

 5 Money market fund shares 202.4 -267.6 -183.7 33.8 -7.9 -7.4 2.6 -20.5 -6.4 30.8 183.6 5

 6 Securities -182.2 366.1 73.8 -210.5 76.1 -437.1 825.1 -123.7 40.1 691.9 -157.2 6

 7 Open market paper -101.3 16.7 -1.5 -1.8 -0.3 2.0 -2.6 -0.4 -0.4 3.9 -18.4 7

 8 U.S. savings bonds -2.4 -2.8 -3.3 -2.7 -2.8 -1.4 -2.1 -2.5 -5.0 -2.5 -3.7 8

 9 Treasury bills and other Treasury securities 159.8 535.2 405.4 -199.2 273.4 116.0 631.8 -13.0 358.8 37.5 -185.2 9

 10 Agency- and GSE-backed securities 218.9 -674.6 -81.8 0.9 -141.9 -409.9 36.0 -148.1 -45.6 -395.7 -72.0 10

 11 Municipal securities 47.0 107.2 44.3 -64.8 -149.8 -123.1 -6.0 -233.6 -236.3 2.4 -32.0 11

 12 Corporate and foreign bonds -162.9 58.4 -329.6 127.6 41.3 -51.1 -17.4 -24.6 258.3 -28.3 -123.0 12

 13 Corporate equities (2) -303.0 -8.5 -187.4 -288.2 -363.0 -320.9 10.4 -436.1 -705.6 93.8 -181.2 13

 14 Mutual fund shares -38.1 334.5 227.6 217.7 419.2 351.3 175.0 734.7 415.9 980.8 458.4 14

 15 Life insurance reserves 61.7 23.7 9.0 86.9 -26.3 -46.6 -82.2 0.2 23.5 -20.2 7.8 15

 16 Pension entitlements 538.0 427.4 614.7 473.0 497.1 464.5 381.8 526.3 615.7 463.9 477.4 16

 17 Miscellaneous and other assets 57.8 -166.8 164.2 136.4 47.8 51.9 44.1 21.7 73.5 29.1 212.2 17

 18 Gross investment in nonfinancial assets 1920.7 1669.5 1689.9 1765.4 1887.0 1855.4 1865.0 1885.7 1941.8 2004.6 2049.0 18

 19 Residential fixed investment 509.0 386.9 376.5 376.5 420.5 402.9 408.1 424.0 447.0 463.7 485.7 19

 20 Nonresidential fixed investment 379.0 330.0 319.0 338.7 356.3 349.5 356.3 355.8 363.7 355.7 363.0 20

 21 Consumer durables 1044.2 970.8 1005.0 1061.2 1123.5 1106.3 1111.0 1127.1 1149.7 1162.9 1174.4 21

 22 Nonproduced nonfinancial assets -11.0 -9.7 -8.5 -8.3 -8.4 -8.5 -8.5 -8.5 -8.3 -8.1 -7.9 22

 23 Inventories -0.4 -8.5 -2.2 -2.7 -4.9 5.1 -1.9 -12.7 -10.3 30.5 33.8 23

 24 Consumption of fixed capital 1578.6 1576.8 1570.4 1599.0 1637.5 1617.0 1630.9 1644.8 1657.4 1644.1 1664.1 24

 25 Residential fixed investment 395.6 377.9 372.0 369.4 371.7 366.1 370.2 373.6 376.8 381.5 386.1 25

 26 Nonresidential fixed investment 273.4 278.4 280.3 290.2 302.8 299.9 300.6 303.5 307.2 312.1 317.6 26

 27 Consumer durables 909.6 920.6 918.1 939.4 963.1 951.0 960.2 967.8 973.4 950.6 960.4 27

 28 Net investment in nonfinancial assets (3) 342.1 92.6 119.4 166.4 249.5 238.3 234.1 240.9 284.4 360.5 384.9 28

 29 Residential fixed investment 113.3 9.0 4.5 7.1 48.9 36.8 38.0 50.4 70.2 82.2 99.6 29

 30 Nonresidential fixed investment 105.6 51.6 38.7 48.4 53.6 49.6 55.7 52.4 56.6 43.6 45.4 30

 31 Consumer durables 134.6 50.3 86.9 121.9 160.4 155.3 150.8 159.3 176.2 212.3 214.0 31

 32 Nonproduced nonfinancial assets -11.0 -9.7 -8.5 -8.3 -8.4 -8.5 -8.5 -8.5 -8.3 -8.1 -7.9 32

 33 Inventories -0.4 -8.5 -2.2 -2.7 -4.9 5.1 -1.9 -12.7 -10.3 30.5 33.8 33

 34 Net increase in liabilities 303.7 -244.7 -296.6 -140.9 169.9 42.4 162.2 -35.5 510.4 6.5 154.0 34

 35 Home mortgages -105.1 -198.9 -339.7 -251.2 -248.2 -353.1 -218.1 -328.9 -92.7 -212.6 -166.1 35

 36 Other mortgages 230.8 33.3 -46.5 -15.5 -23.3 -86.2 -35.7 -4.7 33.3 14.9 74.3 36

 37 Consumer credit 34.8 -103.7 -25.3 109.1 169.1 147.6 205.7 136.2 186.9 180.6 165.1 37

 38 Policy loans 5.9 0.7 3.4 2.4 1.4 -0.2 -1.0 2.5 4.1 -0.1 1.1 38

 39 Security credit -160.7 38.1 75.2 -39.3 64.9 115.4 -93.1 98.7 138.4 16.4 -21.2 39

 40 Other liabilities 298.0 -14.3 36.3 53.6 206.0 218.8 304.3 60.6 240.4 7.2 100.8 40

 41 Net capital transfers paid (4) 4.4 -34.4 -28.4 0.6 -10.0 7.2 8.5 10.4 -66.2 15.5 16.0 41

 42 Personal saving, FOF concept (FOF) 1143.6 896.8 1242.2 1498.6 1159.1 752.2 1597.4 876.9 1409.7 1850.6 1184.7 42

 43 - Net investment in consumer durables 134.6 50.3 86.9 121.9 160.4 155.3 150.8 159.3 176.2 212.3 214.0 43

 44 - Government insurance and pension fund reserves (5) -0.6 0.5 -1.7 -0.4 -1.4 -2.4 -0.2 -1.6 -1.6 -1.9 -0.4 44

 45 = Personal saving, NIPA concept (FOF) (6) 1009.7 846.1 1157.1 1377.1 1000.1 599.2 1446.8 719.2 1235.0 1640.1 971.1 45

 46 Personal saving, NIPA concept (NIPA) 551.3 670.7 634.2 668.2 687.4 657.3 663.9 604.1 824.1 502.0 556.9 46

 47 Difference 458.3 175.4 522.9 708.9 312.7 -58.1 782.9 115.1 410.9 1138.1 414.1 47

 Memo:

 48 Disposable personal income 10995.4 10937.2 11243.7 11787.4 12245.8 12085.7 12171.9 12205.1 12520.4 12296.9 12395.6 48

 Personal saving as a percentage of disposable personal income:

 49 FOF concept (FOF data) (line 42) 10.4 8.2 11.0 12.7 9.5 6.2 13.1 7.2 11.3 15.0 9.6 49

 50 NIPA concept (FOF data) (line 45) 9.2 7.7 10.3 11.7 8.2 5.0 11.9 5.9 9.9 13.3 7.8 50

 51 NIPA concept (NIPA data) (line 46) 5.0 6.1 5.6 5.7 5.6 5.4 5.5 4.9 6.6 4.1 4.5 51

 52 Difference (line 47) 4.2 1.6 4.7 6.0 2.6 -0.5 6.4 0.9 3.3 9.3 3.3 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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L.10 Assets and Liabilities of the Personal Sector (1)

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

2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Total financial assets 42764.0 46541.1 50486.9 51245.4 54949.7 53005.8 52607.9 54062.5 54949.7 56820.9 57351.5 1

 2 Foreign deposits 56.9 50.2 49.7 46.9 45.1 46.0 44.3 46.4 45.1 46.5 51.8 2

 3 Checkable deposits and currency 884.3 934.9 956.7 1278.7 1363.8 1252.0 1237.9 1236.9 1363.8 1362.7 1341.5 3

 4 Time and savings deposits 6473.1 6631.4 6752.0 7110.2 7479.0 7224.2 7283.8 7320.3 7479.0 7538.3 7571.9 4

 5 Money market fund shares 1582.1 1314.6 1130.9 1104.2 1096.2 1042.9 1013.3 1033.3 1096.2 1042.0 1056.6 5

 6 Securities 14217.6 17023.9 19291.0 18833.4 21109.5 20036.3 19694.8 20740.1 21109.5 22473.8 22741.6 6

 7 Open market paper 6.0 22.7 21.1 19.4 19.0 19.9 19.2 19.1 19.0 20.0 15.4 7

 8 U.S. savings bonds 194.0 191.2 187.9 185.2 182.4 184.7 184.3 183.6 182.4 181.7 180.9 8

 9 Treasury bills and other Treasury securities 51.5 723.5 1081.0 691.7 975.7 808.1 855.2 875.7 975.7 1030.3 1061.7 9

 10 Agency- and GSE-backed securities 1050.2 347.1 264.2 227.0 75.1 139.2 144.8 116.6 75.1 14.0 32.4 10

 11 Municipal securities 1725.8 1833.0 1877.3 1812.5 1662.7 1786.5 1780.1 1714.7 1662.7 1668.4 1652.9 11

 12 Corporate and foreign bonds 1952.7 2299.2 2270.8 2399.6 2556.6 2347.0 2343.3 2460.8 2556.6 2522.5 2472.0 12

 13 Corporate equities (2) 5923.7 7487.4 8990.2 9045.8 10322.0 9771.5 9503.3 10214.4 10322.0 11250.8 11461.7 13

 14 Mutual fund shares 3313.7 4119.9 4598.3 4452.3 5315.9 4979.4 4864.5 5155.1 5315.9 5786.1 5864.7 14

 15 Life insurance reserves 1049.8 1109.2 1137.2 1203.6 1186.1 1199.4 1172.6 1180.6 1186.1 1194.5 1197.7 15

 16 Pension entitlements 14061.8 15205.4 16745.0 17115.2 18075.1 17641.6 17588.7 17928.7 18075.1 18560.9 18736.6 16

 17 Life insurance companies 2223.2 2346.9 2563.0 2602.8 2759.4 2691.7 2651.2 2713.2 2759.4 2821.2 2820.1 17

 18 Private pension funds 5281.4 5976.3 6625.7 6672.5 7175.3 7022.3 6945.1 7145.3 7175.3 7507.6 7603.7 18

 19 Governments 6557.1 6882.2 7556.3 7839.9 8140.4 7927.7 7992.5 8070.2 8140.4 8232.1 8312.8 19

 20 Miscellaneous and other assets 4343.8 4182.6 4346.0 4481.1 4527.9 4491.9 4501.6 4508.7 4527.9 4537.1 4590.0 20

 21 Total liabilities 20028.8 19741.7 19444.8 19309.6 19415.0 19282.0 19316.7 19262.3 19415.0 19378.3 19416.4 21

 22 Home mortgages 11075.3 10876.4 10423.8 10172.6 9919.4 10084.3 10024.8 9933.3 9919.4 9866.6 9823.8 22

 23 Other mortgages 2529.9 2563.2 2516.7 2501.1 2477.8 2479.6 2470.7 2469.5 2477.8 2481.5 2500.1 23

 24 Consumer credit 2651.4 2553.5 2648.1 2757.2 2924.3 2749.1 2799.0 2859.3 2924.3 2924.4 2966.2 24

 25 Policy loans 120.4 121.1 124.5 126.9 128.3 126.9 126.6 127.2 128.3 128.2 128.5 25

 26 Security credit 164.8 203.0 278.2 238.9 303.7 267.7 244.5 269.1 303.7 307.9 302.6 26

 27 Other liabilities 3487.0 3424.6 3453.6 3512.9 3661.5 3574.6 3651.2 3603.8 3661.5 3669.7 3695.2 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).