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

June 6, 2013

Z.1

Financial Accounts 

of the United States

Flow of Funds, Balance Sheets,

and Integrated Macroeconomic Accounts

First Quarter 2013

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

i

Household Net Worth and Growth of Domestic Nonfinancial Debt

Year

Household 

net worth1

Growth of domestic nonfinancial debt2

Total Households Business

State and 

local govts. Federal

2003 48,027 8.0 11.8 2.2 8.3 10.9

2004 54,894 9.3 11.1 6.7 11.4 9.0

2005 61,200 9.2 11.2 9.0 5.8 7.0

2006 66,069 8.6 9.7 10.9 3.9 3.9

2007 66,862 8.5 6.7 13.6 5.5 4.9

2008 54,164 5.9 -0.2 6.3 0.6 24.2

2009 56,198 3.1 -1.7 -2.3 4.0 22.7

2010 60,222 4.2 -2.6 1.5 2.3 20.2

2011 61,328 3.7 -1.5 4.7 -1.7 11.4

2012 67,346 4.9 0.2 6.0 -0.2 10.9

2011: Q2 61,853 2.7 -2.6 5.4 -2.8 8.2

Q3 59,207 4.3 -1.5 4.0 -0.2 13.7

Q4 61,328 4.9 0.0 5.2 -1.2 12.7

2012: Q1 64,185 4.8 -1.0 4.4 0.0 13.7

Q2 63,930 5.2 1.3 4.9 3.1 10.9

Q3 65,949 2.7 -1.8 4.9 -0.1 6.2

Q4 67,346 6.5 2.2 9.3 -3.7 11.2

2013: Q1 70,349 4.6 -0.6 5.3 1.9 10.3

1. Shown on table B.100, which includes nonprofit organizations. Billions of dollars; amounts outstanding end of period, not 

seasonally adjusted

2. Percentage changes shown on an end-of-period basis; quarterly data are seasonally adjusted annual rates

Household net worth – the difference between the 

values of households’ assets and liabilities – was $70.3

trillion at the end of the first quarter of this year, about

$3 trillion more than at the end of 2012. In the first 

quarter, the value of corporate equities and mutual funds 

owned by households expanded $1.5 trillion and the 

value of residential real estate owned by households 

increased about $784 billion. 

Domestic nonfinancial debt outstanding was $40.6

trillion at the end of the first quarter of 2013, of which 

household debt was $12.8 trillion, nonfinancial business 

debt was $12.9 trillion, and total government debt was 

$14.9 trillion.

Domestic nonfinancial debt growth was 4.6 percent at 

a seasonally adjusted annual rate in the first quarter of 

2013, about 1⁄4 percentage point less than the pace for 

2012 as a whole.

Household debt edged down at an annual rate of 0.6 

percent in the first quarter. Home mortgage debt 

contracted 2.3 percent, about the same as the decline in 

2012. Consumer credit rose at an annual rate of 5.7

percent, slightly less than the increase in 2012. 

Nonfinancial business debt rose at an annual rate of 

5.3 percent in the first quarter, after a 6 percent increase 

in 2012. As in recent years, corporate bonds accounted 

for the largest increase. 

State and local government debt rose at an annual rate 

of 1.9 percent in the first quarter, after declining slightly 

in 2012. 

Federal government debt rose at an annual rate of 10.3

percent in the first quarter of 2013 after a 10.9 percent 

increase last year. 

Recent Developments in Household Net Worth and 

Domestic Nonfinancial Debt
ii
iii

Topic Description

Financial Accounts of the United 

States

The Z.1 statistical release, previously named Flow of Funds 

Accounts of the United States, has been renamed Financial 

Accounts of the United States. This change reflects the growing 

variety of financial data included in this publication, including 

flow of funds, balance sheets, and Integrated Macroeconomic 

Accounts, and is more aligned with international terminology. 

The term “Flow of Funds Accounts” will be gradually transitioned 

to “Financial Accounts” on the Federal Reserve Board’s website. 

Publication redesign The cover and introductory material for the Z.1 has been 

redesigned to enhance usablity and to modernize the style of 

the publication. “Release Highlights” are now shown separately 

from “Explanatory Notes” to make new developments and data 

revisions more accessible to our users. The explanatory notes 

section has been rewritten to address common questions and 

methodological information about the accounts.

Organization of data tables Data tables have been organized into the following six sections 

identified by colored tabs: Summary (red), Flows (yellow), 

Levels (orange), Balance Sheets (blue), Supplements (green), 

and Integrated Accounts (purple). The flow of funds matrixes 

have been moved to the front of the summary section. Flow and 

level credit market debt summary tables, tables corresponding 

to Bureau of Economic Analysis (BEA) national income and 

product account tables, and the personal savings tables are also 

included in the summary section.

Integrated Macroeconomic

Accounts (IMAs)

Annual tables for the Integrated Macroeconomic Accounts, 

which are jointly produced with BEA, are now included in this 

statistical release. These tables have previously been published 

on BEA’s website and in the Flow of Funds online Guide. 

Quarterly and annual data beginning in 1960 are available for 

download through the Federal Reserve’s Data Download 

Program (DDP).

Nonfinancial corporate business 

sector benchmark

Assets of the nonfinancial corporate business sector (tables 

F.102, L.102, B.102, and R.102) have been revised from 

2011:Q1 forward, to reflect new advance data from the Internal 

Revenue Service (IRS) Statistics of Income (SOI) for 2011.

Rest of the world quarterly data on 

International Investment Position

Data for the rest of the world sector (tables F.106 and L.106) 

have been revised beginning in 2005:Q4 to incorporate newly 

available quarterly data on the International Investment Position 

(IIP) from BEA. Previously, IIP data were only available on an 

annual basis.

Credit union revisions The credit union sector (tables F.113 and L.113) has been 

revised back to 2010:Q4 to reflect improved methodology 

regarding investments held by natural person credit unions and 

corporate credit unions. A new asset category, municipal 

securities, is now shown. 

Release Highlights

First Quarter 2013
iv

Topic Description

Private pension fund sector 

benchmark

The private pension fund sector (tables F.116, F.116.b, F.116.c, 

L.116, L.116.b, and L.116.c) has been revised beginning in 

2006:Q4 to reflect improved methodology and new data from the 

U.S. Internal Revenue Service/Department of Labor/Pension 

Benefit Guaranty Corporation Form 5500 filed for plan years 

2006, 2008, 2009, and 2010.

MBS and other asset-backed 

corporate and foreign bonds

The corporate and foreign bonds instrument tables (tables F.212 

and L.212) have been modified to show mortgage-backed 

securities and other asset-backed corporate and foreign bonds 

separate from other corporate and foreign bonds for a number of 

sectors. This additional detail is available for the following 

sectors: rest of the world, beginning 2002:Q2; U.S.-chartered 

depository institutions, beginning 1984:Q1; credit unions, 

beginning 2008:Q1; property-casualty insurance companies, 

beginning 2011:Q4; life insurance companies, beginning 

2011:Q4; and government-sponsored enterprises, beginning

1993:Q1.
v

Financial Accounts of the United States

The Financial Accounts of the United States (previously 

referred to as the Flow of Funds Accounts) are

organized into the following sections:

■ Matrices summarizing flows and levels across 

sectors, and tables summarizing credit market 

borrowing, gross domestic product (GDP), 

national income, saving, and so on

■ Flow of funds, by sector and financial 

instrument 

■ Levels of financial assets and liabilities, by 

sector and financial instrument

■ Balance sheets, including nonfinancial assets,

and changes in net worth for households and 

nonprofit organizations, nonfinancial corporate 

businesses, and nonfinancial noncorporate 

businesses

■ Supplementary tables providing additional 

detail on selected sectors

■ Integrated Macroeconomic Accounts

The Integrated Macroeconomic Accounts (IMA) relate 

production, income, saving, and capital formation from 

the national income and product accounts (NIPA) to 

changes in net worth from the Financial Accounts on a 

sector-by-sector basis. The IMA are published jointly 

by the Federal Reserve Board and the Bureau of 

Economic Analysis and are based on international 

guidelines and terminology as defined in the System of 

National Accounts (SNA1993, revised in 2008). 

Federal Reserve Board staff have taken many steps over 

the past several years to conform the Financial Accounts

with the SNA guidelines. Nonetheless, a few important 

differences remain. In particular, in the Financial 

Accounts:

■ The purchase of consumer durables is treated as 

investment rather than as consumption.

■ Nonfinancial noncorporate business (which are 

often small businesses) are shown in a separate 

sector rather than being included in the 

household sector.

■ Most debt securities are recorded at book value 

rather than market value.

Concepts of Level and Flow in the SNA 

and the Financial Accounts

The level of an asset or liability (also referred to as the 

stock or outstanding) measures the value of the asset or

liability in existence at a point in time. In the Financial 

Accounts, the levels are reported as of the end of each

calendar quarter. In the SNA2008, the change in the

level from one period to the next is called the “economic 

flow”, and can be decomposed into three broad 

elements: transactions, which measure the exchange of 

assets; revaluations, which measure changes in market 

value of untraded assets; and other changes in volume, 

which measure discontinuities or breaks in time series 

due to disaster losses or a change in source data or 

definition.

In the Financial Accounts, “flow of funds” refers to the 

exchange of assets, corresponding to the SNA definition 

of transactions, that is, “flow tables” in the Financial 

Accounts are equivalent to “transaction tables” in the 

SNA terminology. 

Currently, revaluations are not separately identifiable 

from other changes in volume in most of the Financial 

Accounts. The sum of revaluations and other volume 

changes can be measured as the change in levels from 

one quarter to the next, less the flow. Note that in 

practice, other volume changes are relatively rare, and 

revaluations only occur for series carried at market value 

(such as corporate equities and mutual fund shares), so 

for many series the change in the level is equal to the 

flow. Revaluations are available separately from other 

changes in volume in the IMA.

Growth Rates

Growth rates calculated from levels will include 

revaluations and other changes in volume. To isolate 

the effect of transactions on growth of a given asset or 

liability, users should calculate the ratio of the flow in a 

given period to the level in the preceding period. 

Growth rates in table D.1 are calculated by dividing 

seasonally adjusted flows from table D.2 by seasonally 

adjusted levels at the end of the previous period from 

table D.3. Growth rates calculated from changes in 

unadjusted levels printed in table L.2 may differ from 

those in table D.1.

Seasonal Adjustment

Seasonal factors are recalculated and updated every 

year, and these revised factors are first published in the 

September release of second-quarter data. All series that 

exhibit significant seasonal patterns are adjusted. The 

seasonal factors are generated using the X-12-

ARIMA/88 seasonal adjustment program from Statistics 

Canada, estimated using the most recent 10 years of 

Explanatory Notes
vi

data. Because the effects of the recent financial crisis

resulted in large outliers in some series that would have 

distorted the estimated seasonal factors, seasonal factors 

for some series were extrapolated using pre-crisis data. 

Seasonally adjusted levels shown in table D.3 are 

derived by carrying forward year-end levels by 

seasonally adjusted flows.

Data Revisions

Data shown for the most recent quarters are based on 

preliminary and potentially incomplete information. A 

summary list of the most recent data available for each 

sector is provided in a table following these notes. 

Nonetheless, when source data are revised or estimation

methods are improved, all data are subject to revision. 

There is no specific revision schedule; rather, data are 

revised on an ongoing basis. In each release of the 

Financial Accounts, major revisions are highlighted at 

the beginning of the publication.

Discrepancies

The data in the Financial Accounts come from a large 

variety of sources and are subject to limitations and 

uncertainty due to measurement errors, missing 

information, and incompatibilities among data sources. 

The size of this uncertainty cannot be quantified, but its 

existence is acknowledged by the inclusion of 

“statistical discrepancies” for various sectors and 

financial instruments.

The discrepancy for a given sector is defined as the 

difference between the aggregate value of the sector’s 

sources of funds and the value of its uses of funds. For a 

financial instrument category, the discrepancy is defined 

as the difference between the measurement of funds 

raised through the financial instrument and funds 

disbursed through that instrument. The relative size of 

the statistical discrepancy is one indication of the quality 

of the underlying source data. Note that differences in 

seasonal adjustment procedures sometimes result in 

quarterly discrepancies that partially or completely 

offset each other in the annual data.

The Flow of Funds Guide

Substantially more detail on the construction of the 

Financial Accounts is available in the Flow of Funds 

Guide, which provides interactive, online documentation

for each data series. The tools and descriptions in the

guide are designed to help users understand the structure 

and content of the Financial Accounts. The guide

allows users to search for series, browse tables of data, 

and identify links among series within these accounts. It 

also provides descriptions of each of the published 

tables and information on the source data underlying 

each series. 

The guide is not part of the quarterly release, but it is 

continually updated and kept consistent with the most 

recently published data. The guide and the data from the 

Financial Accounts are available free of charge at the

following link:

www.federalreserve.gov/apps/fof/

Each input and calculated series in the Z.1 is identified 

according to a unique string of patterned numbers and 

letters. The series structure page of the guide provides a 

breakdown of what the letters and numbers represent in 

the series mnemonics. The relationships between 

different components of a series (for example, levels, 

seasonally adjusted annual rate flows, unadjusted flows, 

seasonal factors, and so on) are also described on the 

series structure page.

Production Schedule

The Financial Accounts are published online and in print 

4 times per year, about 10 weeks following the end of 

each calendar quarter. The publication and the guide are

available online here:

www.federalreserve.gov/releases/Z1

This website also provides coded tables and historical 

annual tables beginning in 1945 that correspond with the 

tables published in this release. There are also 

compressed ASCII files of quarterly data for seasonally 

adjusted flows, unadjusted flows, outstandings, balance 

sheets, debt (tables D.1, D.2, and D.3), supplementary

tables, and the IMA. 

In addition, the data are available as customizable 

datasets through the Federal Reserve Board’s Data 

Download Program (DDP) here:

www.federalreserve.gov/datadownload/Choose.aspx?rel=Z.1

Print Subscription Information

The Federal Reserve Board charges a fee for 

subscriptions to print versions of statistical releases.

Inquiries regarding print versions should be directed to

the following office:

Publications Services, Stop 127

Board of Governors

of the Federal Reserve System

20th Street and Constitution Avenue, N.W.

Washington, DC 20551

(202) 452-3245
vii

Sector Table Available at time of publication

National income and product 

accounts (NIPA)

(various tables)

Second estimate, seasonally adjusted, for 2013:Q1. Unadjusted 

flows since 2011 for the government sectors and since 2006 for 

all other sectors were unavailable.

Households and nonprofit

organizations sector

(tables F.100 and L.100)

Estimates for this sector are largely residuals and are derived 

from data for other sectors. Availability of data depends on 

schedules for other sectors. Data for consumer credit, which are 

estimated directly, are available through 2013:Q1. The source 

for nonprofit organizations data (tables F.100.a and L.100.a) is 

the Internal Revenue Service Statistics of Income. Data for 

nonprofit organizations are available for 1987 through 2000.

Nonfinancial corporate business 

(tables F.102 and L.102)

Quarterly Financial Report (QFR) of the Census Bureau through 

2013:Q1; Internal Revenue Service Statistics of Income

(IRS/SOI) data through 2011; securities offerings, mortgages, 

bank loans, commercial paper, and other loans through 

2013:Q1. Corporate farm data for 2012.

Nonfinancial noncorporate business

(tables F.103 and L.103)

IRS/SOI data through 2010; bank and finance company loans, 

and mortgage borrowing through 2013:Q1. Noncorporate farm 

data for 2012.

State and local governments

(tables F.104 and L.104)

Gross offerings and retirements of municipal securities, deposits 

at banks, and nonmarketable U.S. government security issues 

through 2013:Q1; total financial assets through 2010:Q2 from 

the Census Bureau; breakdown of financial assets through 

2011:Q2 from the comprehensive annual financial reports of 

state and local governments.

Federal government

(tables F.105 and L.105)

Data from the Monthly Treasury Statement of Receipts and 

Outlays and Treasury data for loan programs and the Troubled 

Assets Relief Program (TARP) through 2013:Q1.

Rest of the world

(tables F.106 and L.106)

Balance of payments and International Investment Position data 

through 2012:Q4. NIPA estimates; bank Call Reports and 

Treasury International Capital System data through 2013:Q1.

Monetary authority

(tables F.108 and L.108)

All data through 2013:Q1.

U.S.-chartered depository 

institutions

(tables F.110 and L.110)

All data through 2013:Q1.

Foreign banking offices in U.S.

(tables F.111 and L.111)

All data through 2013:Q1.

Banks in U.S.-affiliated areas

(tables F.112 and L.112)

All data through 2013:Q1.

Credit unions

(tables F.113 and L.113)

All data through 2013:Q1.

Description of Most Recent Data Available
viii

Sector Table Available at time of publication

Property-casualty insurance 

companies

(tables F.114 and L.114)

All data through 2013:Q1.

Life insurance companies

(tables F.115 and L.115)

All data through 2013:Q1.

Private pension funds

(tables F.116 and L.116)

Internal Revenue Service/Department of Labor/Pension Benefit 

Guaranty Corporation Form 5500 data through 2010.

State and local government 

employee retirement funds

(tables F.117 and L.117)

Detailed data through 2011:Q2 from the Census Bureau; sample 

data through 2013:Q1 from the Census Bureau.

Federal government retirement 

funds

(tables F.118 and L.118)

Data from the Monthly Treasury Statement of Receipts and 

Outlays, the Thrift Savings Plan, and the National Railroad 

Retirement Investment Trust through 2013:Q1.

Money market mutual funds

(tables F.119 and L.119)

All data through 2013:Q1.

Mutual funds

(tables F.120 and L.120

All data through 2013:Q1.

Closed-end funds

(tables F.121 and L.121)

All data through 2013:Q1.

Exchange-traded funds

(tables F.121 and L.121)

All data through 2013:Q1.

Government Sponsored Enterprises 

(GSEs)

(tables F.122 and L.122)

Data for Fannie Mae, Freddie Mac, Farmer Mac, FHLB, FICO, 

FCS, and REFCORP through 2013:Q1.

Agency- and GSE-backed 

mortgage pools

(tables F.123 and L.123)

Data for Fannie Mae, Freddie Mac, Farmer Mac, and Ginnie 

Mae through 2013:Q1.

Issuers of asset-backed securities 

(ABSs)

(tables F.124 and L.124)

All data for private mortgage pools, consumer credit, business 

loans, student loans, consumer leases, and trade credit 

securitization through 2013:Q1.

Finance companies

(tables F.125 and L.125)

All data through 2013:Q1.

Real Estate Investment Trusts 

(REITs)

(tables F.126 and L.126)

Data from SNL Financial through 2013:Q1. 

Security brokers and dealers

(tables F.127 and L.127)

Data for firms filing FOCUS and FOGS reports through 

2013:Q1.

Holding companies

(table F.128 and L.128)

All data through 2013:Q1.

Funding corporations

(tables F.129 and L.129)

Estimates for this sector are largely residuals and are derived 

from data for other sectors.
ix

Title Table Page

Summaries

Flow of Funds Matrix – Flows 1

Flow of Funds Matrix – Assets and Liabilities 2

Credit Market Debt Growth by Sector D.1 3

Credit Market Borrowing by Sector D.2 4

Credit Market Debt Outstanding by Sector D.3 5

Total Credit Market Borrowing and Lending F.1 6

Credit Market Borrowing by Nonfinancial Sectors F.2 7

Credit Market Borrowing by Financial Sectors F.3 7

Credit Market Borrowing, All Sectors, by Instrument F.4 8

Total Liabilities and Its Relation to Total Financial Assets F.5 8

Credit Market Debt Outstanding L.1 9

Credit Market Debt Owed by Nonfinancial Sectors L.2 10

Credit Market Debt Owed by Financial Sectors L.3 10

Credit Market Debt, All Sectors, by Instrument L.4 11

Total Liabilities and Its Relation to Total Financial Assets L.5 11

Distribution of Gross Domestic Product F.6 12

Distribution of National Income F.7 13

Saving and Investment F.8 14

Net Capital Transfers F.9 15

Derivation of Measures of Personal Saving F.10 16

Assets and Liabilities of the Personal Sector L.10 17

Title

Flows Levels

Table Page Table Page

Sectors

Households and Nonprofit Organizations F.100 18 L.100 64

Nonfinancial Business F.101 19 L.101 65

Nonfinancial Corporate Business F.102 20 L.102 66

Nonfinancial Noncorporate Business F.103 21 L.103 67

State and Local Governments F.104 22 L.104 68

Federal Government F.105 23 L.105 69

List of Data Tables
x

Sectors

Rest of the World F.106 24 L.106 70

Financial Business F.107 25 L.107 71

Monetary Authority F.108 26 L.108 72

Private Depository Institutions F.109 27 L.109 73

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

Unions F.110 28 L.110 74

Foreign Banking Offices in U.S. F.111 29 L.111 75

Banks in U.S.-Affiliated Areas F.112 30 L.112 76

Credit Unions F.113 30 L.113 76

Property-Casualty Insurance Companies F.114 31 L.114 77

Life Insurance Companies F.115 31 L.115 77

Private Pension Funds F.116 32 L.116 78

State and Local Government Employee Retirement 

Funds F.117 33 L.117 79

Federal Government Retirement Funds F.118 33 L.118 79

Money Market Mutual Funds F.119 34 L.119 80

Mutual Funds F.120 34 L.120 80

Closed-End and Exchange-Traded Funds F.121 34 L.121 80

Government-Sponsored Enterprises F.122 35 L.122 81

Agency- and GSE-Backed Mortgage Pools F.123 35 L.123 81

Issuers of Asset-Backed Securities F.124 36 L.124 82

Finance Companies F.125 36 L.125 82

Real Estate Investment Trusts F.126 37 L.126 83

Security Brokers and Dealers F.127 38 L.127 84

Holding Companies F.128 39 L.128 85

Funding Corporations F.129 40 L.129 86

Instruments

U.S. Official Reserve Assets and SDR Allocations F.200 41 L.200 87

Special Drawing Rights (SDRs) Certificates and Treasury 

Currency F.201 41 L.201 87

U.S. Deposits in Foreign Countries F.202 41 L.202 87

Net Interbank Transactions F.203 42 L.203 88

Checkable Deposits and Currency F.204 43 L.204 89

Time and Savings Deposits F.205 44 L.205 90

Money Market Mutual Fund Shares F.206 44 L.206 90
xi

Instruments

Federal Funds and Security Repurchase Agreements F.207 45 L.207 91

Open Market Paper F.208 46 L.208 92

Treasury Securities F.209 47 L.209 93

Agency- and GSE-Backed Securities F.210 48 L.210 94

Municipal Securities and Loans F.211 49 L.211 95

Corporate and Foreign Bonds F.212 50 L.212 96

Corporate Equities F.213 51 L.213 97

Mutual Fund Shares F.214 51 L.214 97

Depository Institution Loans Not Elsewhere Classified F.215 52 L.215 98

Other Loans and Advances F.216 53 L.216 99

Total Mortgages F.217 54 L.217 100

Home Mortgages F.218 55 L.218 101

Multifamily Residential Mortgages F.219 55 L.219 101

Commercial Mortgages F.220 56 L.220 102

Farm Mortgages F.221 56 L.221 102

Consumer Credit F.222 57 L.222 103

Trade Credit F.223 57 L.223 103

Security Credit F.224 57 L.224 103

Life Insurance and Pension Fund Reserves F.225 58 L.225 104

Taxes Payable by Businesses F.226 58 L.226 104

Proprietors' Equity in Noncorporate Business F.227 58 L.227 104

Total Miscellaneous Financial Claims F.228 59 L.228 105

Identified Miscellaneous Financial Claims - Part I F.229 60 L.229 106

Identified Miscellaneous Financial Claims - Part II F.230 61 L.230 107

Unidentified Miscellaneous Financial Claims F.231 62 L.231 108

Sector Discrepancies F.11 63

Instrument Discrepancies F.12 63

Title

Balance Sheet Reconciliation

Table Page Table Page

Balance Sheet and Changes in Net Worth

Households and Nonprofit Organizations B.100 109 R.100 112

Nonfinancial Corporate Business B.102 110 R.102 113

Nonfarm Noncorporate Business B.103 111 R.103 114
xii

Title

Flows Levels

Table Page Table Page

Supplementary Tables

Balance Sheet of Households and Nonprofit 

Organizations with Equity Detail B.100.e 115

Nonprofit Organizations F.100.a 116 L.100.a 117

Consolidated Statement for Federal, State, and Local 

Governments F.105.c 118 L.105.c 119

Private Pension Funds: Defined Benefit Plans F.116.b 120 L.116.b 121

Private Pension Funds: Defined Contribution Plans F.116.c 120 L.116.c 121

Individual Retirement Accounts (IRAs) F.225.i 120 L.225.i 121

Title Table Page

Integrated Macroeconomic Accounts for the United States

Total Economy–Current Account S.1.a 122

Selected Aggregates for Total Economy and Sectors S.2.a 123

Households and Nonprofit Institutions Serving Households S.3.a 125

Nonfinancial Noncorporate Business S.4.a 128

Nonfinancial Corporate Business S.5.a 131

Financial Business S.6.a 134

Federal Government S.7.a 137

State and Local Governments S.8.a 140

Rest of the World S.9.a 143
Summary

1

Z.1, June 6, 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 -- 1959.5 -- 1726.1 -- 164.2 -- -1028.5 -- 2821.2 -- 340.6 -- 467.3 -- 3629.2 --  2 Capital consumption -- 1254.9 -- 1154.4 -- 222.4 -- 141.5 -- 2773.3 -- 184.6 -- -- -- 2957.9 --  3 Net saving (1 less 2) -- 704.6 -- 571.7 -- -58.3 -- -1170.0 -- 48.0 -- 156.0 -- 467.3 -- 671.3 --  4 Gross investment (5 plus 11) 2403.4 -- 1569.4 -- 182.1 -- -915.4 -- 3239.4 -- 253.8 -- 406.2 -- 3899.4 -- -270.2 5 Capital expenditures 1564.0 -- 1429.1 -- 328.6 -- 155.3 -- 3477.0 -- 196.9 -- 0.0 -- 3673.9 -- -44.8 6 Consumer durables 1139.3 -- -- -- -- -- -- -- 1139.3 -- -- -- -- -- 1139.3 -- --  7 Residential 314.7 -- 62.9 -- 6.2 -- 1.5 -- 385.3 -- 5.3 -- -- -- 390.6 -- --  8 Nonresidential 118.8 -- 1310.8 -- 311.5 -- 153.2 -- 1894.3 -- 191.6 -- -- -- 2085.9 -- --  9 Inventory change -- -- 58.1 -- -- -- -- -- 58.1 -- -- -- -- -- 58.1 -- -- 10 Nonproduced nonfinancial assets -8.8 -- -2.8 -- 10.9 -- 0.7 -- 0.0 -- -- -- 0.0 -- -- -- -- 11 Net lending (+) or net borrowing (-) 839.4 -- 140.3 -- -146.5 -- -1070.8 -- -237.6 -- 56.8 -- 406.2 -- 225.4 -- -225.412 Total financial assets 926.7 -- 892.2 -- -111.4 -- 124.4 -- 1832.0 -- 1571.4 -- 714.0 -- 4117.4 -- -- 13 Total liabilities -- 87.4 -- 751.9 -- 35.2 -- 1195.2 -- 2069.6 -- 1514.5 -- 307.9 -- 3892.0 -- 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 -2.5 -- -21.7 -- -- -- -- -- -24.2 -- 0.4 -- -- -42.0 -23.8 -42.0 -18.218 Interbank claims -- -- -- -- -- -- -- -- -- -- -64.1 -211.3 -153.8 -- -217.9 -211.3 6.619 Checkable dep. and currency 140.6 -- 50.4 -- -8.7 -- 6.7 -- 188.9 -- 10.2 268.5 68.2 -- 267.2 268.5 1.320 Time and savings deposits 407.7 -- 33.0 -- 22.0 -- 0.2 -- 462.9 -- 7.2 516.1 46.1 -- 516.1 516.1 -- 21 Money market fund shares 0.3 -- -3.1 -- -7.0 -- -- -- -9.8 -- -18.0 7.1 34.8 -- 7.1 7.1 -- 22 Fed. funds and security RPs -- -- -2.3 -- -5.5 -- -- -- -7.8 -- 140.2 -14.0 -39.9 -- 92.6 -14.0 -106.623 Credit market instruments -18.0 20.4 22.7 717.4 -52.0 -5.3 82.3 1140.2 35.0 1872.6 1077.5 -394.0 410.1 43.9 1522.6 1522.6 -- 24 Open market paper -0.5 -- -6.3 14.2 -6.0 -- -- -- -12.8 14.2 -7.6 -58.7 3.4 27.6 -17.0 -17.0 -- 25 Treasury securities 370.5 -- 15.6 -- -7.9 -- -- 1140.6 378.2 1140.6 283.9 -- 478.4 -- 1140.6 1140.6 -- 26 Agency- and GSE-backed sec. -246.5 -- -0.0 -- -22.9 -- -31.1 -0.4 -300.5 -0.4 256.6 -22.4 21.1 -- -22.8 -22.8 -- 27 Municipal securities -151.2 -14.5 12.7 15.2 -0.6 -5.7 -- -- -139.1 -4.9 139.1 -- -4.9 -- -4.9 -4.9 -- 28 Corporate and fgn. bonds 25.6 -- -- 579.6 -7.5 -- -0.2 -- 18.0 579.6 383.9 -208.0 -38.8 -8.5 363.0 363.0 -- 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 -- -20.8 -- 0.4 2.5 -- 0.0 -19.1 39.2 3.5 -49.2 5.7 -10.0 -10.0 -- 31 Mortgages -13.4 -232.5 0.7 -36.9 -7.2 -- 1.7 0.0 -18.2 -269.4 -235.6 15.6 -- -- -253.8 -253.8 -- 32 Consumer credit -- 154.6 0.0 -- -- -- 109.4 -- 109.4 154.6 45.2 -- -- -- 154.6 154.6 -- 33 Corporate equities -321.3 -- -- -400.7 -14.1 -- -13.2 -- -348.5 -400.7 250.5 152.0 -89.7 61.0 -187.7 -187.7 -- 34 Mutual fund shares 501.8 -- 0.3 -- -7.2 -- -- -- 494.8 -- 87.4 735.7 153.4 -- 735.7 735.7 -- 35 Trade credit -- 1.5 116.7 131.7 0.0 40.4 2.4 9.3 119.1 183.0 -1.6 -0.0 11.1 6.3 128.6 189.3 60.636 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 fund reserves 239.4 -- -- -- -- -- -- -- 239.4 -- -- 239.4 -- -- 239.4 239.4 -- 39 Taxes payable -- -- -- 5.4 9.9 -- 42.7 -- 52.6 5.4 -- 6.4 -- -- 52.6 11.9 -40.740 Equity in noncorp. business -30.3 -- -- -36.7 -- -- -- -- -30.3 -36.7 -- 6.4 -- -- -30.3 -30.3 -- 41 Miscellaneous 11.5 0.6 696.1 334.7 -48.7 -- -0.8 45.5 658.1 380.8 -98.9 90.2 273.8 234.2 833.1 705.2 -127.942 Sector discrepancies (1 less 4) -443.9 -- 156.7 -- -18.0 -- -113.1 -- -418.2 -- 86.9 -- 61.2 -- -270.2 -- -270.2General 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, June 6, 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 55595.2 -- 19240.2 -- 2104.2 -- 1415.6 -- 78355.2 -- 70175.6 -- 20161.1 -- 168691.8 -- -7781.2 2 Total liabilities and equity -- 13437.7 -- 44041.2 -- 3732.9 -- 13449.6 -- 74661.4 -- 71005.3 -- 15244.0 -- 160910.7 --  3 Total liabilities -- 13437.7 -- 19755.6 -- 3732.9 -- 13449.6 -- 50375.9 -- 66040.6 -- 10324.4 -- 126740.9 --  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 47.6 -- 13.1 -- -- -- -- -- 60.7 -- 43.3 -- -- 792.1 104.0 792.1 688.1 8 Interbank claims -- -- -- -- -- -- -- -- -- -- 1561.7 1828.8 213.1 -- 1774.8 1828.8 54.0 9 Checkable dep. and currency 884.6 -- 847.6 -- 118.0 -- 92.0 -- 1942.1 -- 368.3 2857.8 540.4 -- 2850.8 2857.8 7.010 Time and savings deposits 7096.9 -- 955.8 -- 292.3 -- 2.0 -- 8347.0 -- 639.3 9312.4 326.0 -- 9312.4 9312.4 -- 11 Money market fund shares 1110.2 -- 536.9 -- 119.8 -- -- -- 1766.9 -- 768.4 2649.6 114.3 -- 2649.6 2649.6 -- 12 Fed. funds and security RPs -- -- 10.4 -- 94.5 -- -- -- 104.8 -- 929.5 1122.9 -84.7 -- 949.5 1122.9 173.413 Credit market instruments 5468.8 12819.3 344.3 12728.3 1148.5 2980.0 828.5 11593.7 7790.1 40121.4 39017.1 13911.3 9640.1 2414.7 56447.3 56447.3 -- 14 Open market paper 28.6 -- 61.8 130.5 62.3 -- -- -- 152.7 130.5 604.5 449.2 195.2 372.7 952.3 952.3 -- 15 Treasury securities 1197.8 -- 107.3 -- 478.4 -- -- 11568.9 1783.5 11568.9 4259.3 -- 5526.1 -- 11568.9 11568.9 -- 16 Agency- and GSE-backed sec. 96.9 -- 14.4 -- 315.2 -- 0.0 24.9 426.5 24.9 6002.2 7529.7 1125.9 -- 7554.6 7554.6 -- 17 Municipal securities 1656.5 241.0 40.9 509.1 10.3 2964.3 -- -- 1707.7 3714.4 1941.3 -- 65.4 -- 3714.4 3714.4 -- 18 Corporate and fgn. bonds 2402.0 -- -- 5795.2 128.1 -- 0.6 -- 2530.7 5795.2 7512.8 4985.3 2580.6 1843.6 12624.1 12624.1 -- 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 -- 1255.2 -- 15.7 188.8 -- 209.7 1410.2 1503.0 416.6 146.9 32.8 1859.6 1859.6 -- 21 Mortgages 66.1 9604.6 71.4 3358.2 154.2 -- 112.3 0.0 404.0 12962.7 12750.5 191.8 -- -- 13154.5 13154.5 -- 22 Consumer credit -- 2768.2 48.5 -- -- -- 526.8 -- 575.3 2768.2 2192.9 -- -- -- 2768.2 2768.2 -- 23 Corporate equities 10178.4 -- -- 16162.3 68.3 -- 39.9 -- 10286.6 16162.3 12635.7 4946.5 3106.1 4919.5 26028.4 26028.4 -- 24 Mutual fund shares 5372.4 -- 181.7 -- 35.2 -- -- -- 5589.3 -- 2776.6 9323.6 957.7 -- 9323.6 9323.6 -- 25 Trade credit -- 289.7 2893.5 2310.7 0.0 752.9 50.1 228.9 2943.6 3582.2 133.2 14.2 144.7 69.3 3221.4 3665.7 444.326 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 fund reserves 14444.1 -- -- -- -- -- -- -- 14444.1 -- -- 14444.1 -- -- 14444.1 14444.1 -- 29 Taxes payable -- -- -- 157.4 112.3 -- 158.1 -- 270.4 157.4 -- -76.2 -- -- 270.4 81.2 -189.230 Equity in noncorp. business 8141.4 -- -- 8123.2 -- -- -- -- 8141.4 8123.2 -- 18.2 -- -- 8141.4 8141.4 -- 31 Miscellaneous 888.7 24.9 13456.9 4559.3 115.4 -- 142.3 1491.6 14603.3 6075.8 10307.3 8134.2 5149.1 6920.9 30059.7 21130.8 -8928.9General 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.
S

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Z.1, June 6, 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

1978 13.8 16.4 17.5 17.5 13.5 12.1 15.4 9.2 21.7 18.7

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 8.5 1.4 -8.0 10.7 8.4

2001 6.4 9.6 10.5 8.6 5.9 4.9 8.8 -0.2 10.6 -1.4

2002 7.4 10.6 13.2 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 13.6 5.6 6.7 4.8 11.4 9.0 8.6 12.4

2005 9.2 11.2 13.3 4.5 9.0 6.9 5.8 7.0 9.4 7.9

2006 8.6 9.7 11.1 4.2 10.9 9.2 3.9 3.9 10.2 22.0

2007 8.5 6.7 6.9 6.0 13.6 13.5 5.5 4.9 12.7 9.0

2008 5.9 -0.2 -0.6 0.8 6.3 5.1 0.6 24.2 5.5 -10.6

2009 3.1 -1.7 -1.4 -4.4 -2.3 -2.0 4.0 22.7 -10.6 12.4

2010 4.2 -2.6 -3.5 -0.7 1.5 2.7 2.3 20.2 -5.9 3.6

2011 3.7 -1.5 -2.3 3.7 4.7 7.0 -1.7 11.4 -3.0 1.6

2012 4.9 0.2 -2.4 5.9 6.0 8.1 -0.2 10.9 -2.8 1.9

2007 -- Q1 8.4 7.2 8.4 4.5 11.4 9.9 7.0 6.6 11.1 12.9

 Q2 8.3 7.3 7.7 5.9 13.8 14.2 5.9 1.4 10.4 18.0

 Q3 8.7 6.7 6.7 7.4 14.1 14.7 4.2 5.6 16.8 1.4

 Q4 7.5 4.7 4.2 5.7 12.7 12.7 4.3 5.5 10.0 2.9

2008 -- Q1 6.4 3.7 2.9 5.6 8.9 8.8 2.0 10.5 6.1 10.4

 Q2 3.4 -0.4 -0.4 2.4 7.5 6.8 0.7 5.9 6.3 -0.0

 Q3 6.9 -1.9 -2.3 -2.2 5.5 4.6 0.6 36.0 6.6 -29.0

 Q4 6.4 -2.1 -2.5 -2.6 2.6 0.1 -0.8 37.6 2.7 -26.8

2009 -- Q1 4.2 -1.0 0.2 -3.4 -1.0 -0.7 2.6 25.6 -10.7 11.3

 Q2 4.5 -1.1 -1.7 -4.6 -2.1 -1.5 5.0 27.1 -13.5 12.9

 Q3 2.0 -2.4 -2.4 -3.9 -3.5 -3.6 3.8 18.2 -10.4 15.3

 Q4 1.4 -2.3 -1.8 -6.0 -2.7 -2.2 4.3 13.2 -8.5 7.0

2010 -- Q1 3.8 -3.6 -5.5 -2.3 0.2 1.0 3.1 21.9 -8.0 4.8

 Q2 3.9 -2.3 -2.9 -3.2 -1.2 -1.3 0.4 22.2 -7.2 -3.2

 Q3 4.0 -2.7 -3.3 0.4 3.5 5.6 1.8 15.4 -4.3 6.3

 Q4 4.7 -1.8 -2.7 2.1 3.3 5.3 3.9 16.0 -5.3 6.2

2011 -- Q1 2.6 -2.0 -2.6 2.7 3.9 6.3 -2.8 9.1 -0.7 14.4

 Q2 2.7 -2.6 -2.4 3.7 5.4 8.3 -2.8 8.2 -4.8 3.5

 Q3 4.3 -1.5 -1.8 2.9 4.0 5.8 -0.2 13.7 -3.2 -6.1

 Q4 4.9 -0.0 -2.5 5.4 5.2 6.9 -1.2 12.7 -3.5 -5.0

2012 -- Q1 4.8 -1.0 -3.3 5.4 4.4 6.1 -0.0 13.7 -2.4 -0.2

 Q2 5.2 1.3 -2.2 6.4 4.9 6.4 3.1 10.9 -5.0 -5.0

 Q3 2.7 -1.8 -3.1 4.9 4.9 6.8 -0.1 6.2 -2.0 3.8

 Q4 6.5 2.2 -1.0 6.5 9.3 12.1 -3.7 11.2 -1.9 8.8

2013 -- Q1 4.6 -0.6 -2.3 5.7 5.3 7.6 1.9 10.3 0.6 18.7

1. Data shown are on an end-of-period basis.
S

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4 Z.1, June 6, 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

1978 389.8 156.8 105.7 46.4 141.1 82.7 39.4 52.5 73.6 24.0

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 640.0 324.3 166.5 135.0 205.4 191.0 -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 706.1 324.8 205.1 105.7 256.9 186.5 -20.5 144.9 523.2 88.0

1997 793.2 305.0 215.9 70.3 414.3 312.3 50.8 23.1 570.3 69.9

1998 998.5 414.8 301.1 97.1 569.5 390.5 66.8 -52.6 1026.5 37.2

1999 1011.9 474.5 379.2 112.4 571.3 377.5 37.3 -71.2 1052.6 19.0

2000 865.1 576.0 384.4 176.5 568.1 375.7 16.9 -295.9 790.9 63.0

2001 1162.6 665.3 506.9 150.6 397.5 234.0 105.5 -5.6 862.2 -11.2

2002 1428.5 811.2 704.7 105.2 215.1 63.3 144.6 257.6 881.4 93.4

2003 1672.4 992.8 871.7 105.9 163.0 89.2 120.5 396.0 1071.0 43.0

2004 2095.7 1054.1 936.5 117.2 500.9 246.2 178.8 361.9 939.0 155.3

2005 2343.3 1180.3 1048.7 100.4 714.4 372.7 141.7 306.9 1113.4 113.0

2006 2369.4 1137.4 989.8 96.6 947.6 532.4 100.9 183.4 1320.9 332.6

2007 2554.0 853.5 683.1 141.9 1316.7 855.1 146.7 237.1 1814.2 170.3

2008 1921.2 -25.2 -61.9 19.6 689.3 370.5 17.9 1239.2 896.9 -226.2

2009 1057.9 -228.6 -149.6 -111.5 -270.5 -150.5 113.0 1443.9 -1808.7 211.8

2010 1472.3 -342.5 -365.3 -17.9 165.0 194.6 69.5 1580.2 -931.7 75.3

2011 1352.7 -201.6 -229.0 93.4 539.0 525.1 -52.7 1067.9 -435.3 34.8

2012 1872.6 20.4 -229.1 154.6 717.4 646.9 -5.3 1140.2 -394.0 43.9

2007 -- Q1 2538.0 929.8 828.3 106.6 1096.5 626.4 189.3 322.4 1581.4 243.3

 Q2 2555.3 951.7 775.8 140.8 1373.1 920.8 160.5 69.9 1541.5 350.1

 Q3 2735.8 893.8 690.1 179.7 1445.9 986.0 117.5 278.5 2548.1 28.3

 Q4 2387.0 638.7 438.3 140.6 1351.4 887.3 119.4 277.5 1585.7 59.6

2008 -- Q1 2082.2 506.7 310.9 139.7 978.8 630.2 56.5 540.2 990.6 221.3

 Q2 1119.3 -50.5 -47.7 60.8 840.6 499.0 20.3 308.9 1037.7 -0.1

 Q3 2304.7 -265.8 -248.9 -56.8 631.0 343.4 17.8 1921.7 1096.9 -622.8

 Q4 2178.4 -291.4 -262.0 -65.2 306.7 9.2 -22.8 2185.9 462.4 -503.3

2009 -- Q1 1446.1 -136.4 16.7 -86.6 -118.2 -55.9 73.0 1627.7 -1832.8 192.3

 Q2 1580.2 -149.1 -176.9 -116.3 -249.6 -112.5 142.3 1836.5 -2312.6 224.0

 Q3 694.9 -318.4 -251.7 -96.4 -409.5 -270.5 110.7 1312.1 -1717.2 287.9

 Q4 510.2 -310.4 -186.4 -146.8 -304.7 -163.2 126.0 999.2 -1372.1 143.1

2010 -- Q1 1344.9 -477.9 -566.9 -54.7 22.1 71.1 93.1 1707.6 -1259.9 99.5

 Q2 1408.4 -303.3 -292.0 -76.9 -130.9 -98.8 12.6 1830.1 -1077.2 -68.9

 Q3 1435.5 -352.5 -332.9 10.5 395.8 408.7 54.6 1337.6 -626.0 132.0

 Q4 1700.4 -236.3 -269.4 49.5 373.1 397.4 117.8 1445.6 -763.6 138.6

2011 -- Q1 943.3 -265.2 -256.5 67.1 443.3 471.2 -85.6 850.9 -104.0 319.5

 Q2 993.2 -340.3 -239.6 93.8 624.9 628.3 -83.3 791.8 -694.9 80.5

 Q3 1608.0 -197.4 -177.1 73.5 470.9 454.0 -4.5 1339.0 -451.2 -144.8

 Q4 1866.3 -3.3 -242.9 139.3 617.0 546.7 -37.4 1290.0 -490.9 -115.9

2012 -- Q1 1821.9 -126.5 -323.5 141.1 521.4 491.8 -1.0 1428.1 -333.7 -4.1

 Q2 2024.0 161.0 -206.5 168.7 587.1 516.8 93.0 1182.9 -697.4 -115.0

 Q3 1059.2 -232.5 -293.0 130.7 604.3 559.3 -2.8 690.2 -275.1 86.2

 Q4 2585.4 279.5 -93.5 177.7 1156.7 1019.5 -110.2 1259.4 -269.8 208.5

2013 -- Q1 1850.5 -77.2 -212.4 157.1 674.9 664.4 55.2 1197.6 88.8 452.4
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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

1978 3207.9 1111.2 708.6 311.3 1179.3 761.1 295.6 621.9 412.7 155.7

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 13141.1 4527.0 3165.3 1021.2 4014.3 2885.0 1107.5 3492.3 3789.7 443.1

1995 13810.4 4846.1 3318.9 1168.2 4280.9 3106.2 1046.7 3636.7 4226.3 567.6

1996 14516.5 5183.8 3537.0 1273.9 4524.8 3279.7 1026.2 3781.7 4749.5 657.2

1997 15308.2 5489.4 3752.9 1344.2 4937.0 3590.0 1076.9 3804.8 5299.7 723.6

1998 16306.7 5902.9 4054.0 1441.3 5507.9 3981.8 1143.8 3752.2 6326.2 783.2

1999 17353.2 6377.6 4430.8 1553.6 6113.6 4393.7 1181.0 3681.0 7376.5 748.2

2000 18228.1 6963.5 4814.0 1741.3 6681.6 4769.3 1197.9 3385.1 8168.4 814.5

2001 19373.7 7627.8 5320.9 1891.8 7063.0 4987.3 1303.4 3379.5 9156.8 865.4

2002 20802.2 8439.1 6025.6 1997.0 7278.2 5050.6 1447.9 3637.0 10038.2 1072.8

2003 22518.8 9462.0 6907.0 2102.9 7455.3 5153.9 1568.4 4033.1 10944.5 1253.3

2004 25346.4 10536.1 7858.4 2220.1 7967.1 5411.0 2448.2 4395.0 11898.3 1438.8

2005 27689.6 11716.4 8907.1 2320.6 8681.5 5783.7 2589.8 4701.9 12957.3 1513.9

2006 30059.2 12833.3 9896.9 2361.8 9649.9 6336.9 2690.8 4885.3 14260.5 1882.6

2007 32622.3 13689.3 10580.1 2506.3 10973.1 7198.5 2837.5 5122.3 16204.5 2126.3

2008 34543.4 13669.0 10523.1 2525.9 11657.4 7564.0 2855.4 6361.5 17101.0 1708.8

2009 35473.7 13397.0 10373.5 2420.2 11302.8 7329.5 2968.4 7805.4 15688.5 2090.3

2010 36909.5 13059.9 9895.2 2522.2 11426.0 7485.9 3038.0 9385.6 14486.0 2225.3

2011 38267.5 12863.7 9666.1 2615.7 11965.0 8012.6 2985.3 10453.6 14045.4 2276.7

2012 40121.4 12819.3 9432.0 2768.2 12728.3 8704.7 2980.0 11593.7 13911.3 2414.7

2007 -- Q1 30700.2 13065.7 10104.0 2388.5 9930.5 6500.0 2738.1 4965.9 14783.1 1941.8

 Q2 31339.0 13303.6 10298.0 2423.7 10273.8 6730.2 2778.2 4983.3 15168.5 2020.8

 Q3 32025.5 13529.6 10470.5 2471.1 10635.3 6976.7 2807.6 5053.0 15808.1 2077.1

 Q4 32622.3 13689.3 10580.1 2506.3 10973.1 7198.5 2837.5 5122.3 16204.5 2126.3

2008 -- Q1 33142.8 13816.0 10657.8 2541.2 11217.8 7356.0 2851.6 5257.4 16452.1 2216.1

 Q2 33422.6 13803.4 10645.9 2556.4 11428.0 7480.7 2856.7 5334.6 16711.5 2145.8

 Q3 33998.8 13741.9 10588.6 2542.2 11580.8 7561.6 2861.1 5815.0 16985.4 1877.7

 Q4 34543.4 13669.0 10523.1 2525.9 11657.4 7564.0 2855.4 6361.5 17101.0 1708.8

2009 -- Q1 34843.9 13564.3 10527.3 2504.3 11637.5 7559.6 2873.7 6768.5 17095.5 1732.7

 Q2 35238.9 13527.0 10483.0 2481.0 11575.1 7531.6 2909.2 7227.6 16517.3 1879.6

 Q3 35412.6 13447.4 10420.1 2456.9 11472.7 7464.0 2936.9 7555.6 16088.0 2053.1

 Q4 35473.7 13397.0 10373.5 2420.2 11302.8 7329.5 2968.4 7805.4 15688.5 2090.3

2010 -- Q1 35841.1 13290.3 10230.6 2410.1 11326.7 7364.9 2991.7 8232.3 14865.5 2124.7

 Q2 36193.2 13214.5 10157.6 2390.9 11294.0 7340.5 2994.8 8689.8 14596.2 2101.6

 Q3 36552.1 13126.4 10074.4 2393.5 11393.0 7442.9 3008.5 9024.2 14439.7 2231.2

 Q4 36909.5 13059.9 9895.2 2522.2 11426.0 7485.9 3038.0 9385.6 14486.0 2225.3

2011 -- Q1 37145.3 12993.6 9831.1 2539.0 11536.8 7604.1 3016.6 9598.4 14460.0 2310.1

 Q2 37399.0 12913.9 9771.2 2562.5 11693.0 7761.5 2995.7 9796.3 14280.9 2356.4

 Q3 37801.0 12864.5 9726.9 2580.8 11810.7 7875.4 2994.6 10131.1 14168.1 2306.8

 Q4 38267.5 12863.7 9666.1 2615.7 11965.0 8012.6 2985.3 10453.6 14045.4 2276.7

2012 -- Q1 38718.5 12834.4 9585.3 2650.9 12088.5 8126.8 2985.0 10810.6 14025.4 2309.0

 Q2 39219.5 12869.7 9528.7 2691.1 12235.3 8257.1 3008.3 11106.3 13851.1 2280.4

 Q3 39476.5 12751.8 9455.4 2723.8 12438.2 8449.3 3007.6 11278.9 13968.6 2358.6

 Q4 40121.4 12819.3 9432.0 2768.2 12728.3 8704.7 2980.0 11593.7 13911.3 2414.7

2013 -- Q1 40584.0 12800.0 9378.9 2807.5 12897.0 8868.3 2993.8 11893.2 13933.5 2527.8

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

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Credit market borrowing 4538.5 2591.8 -539.0 615.9 952.3 1522.6 1484.2 1211.6 870.3 2524.2 2391.6 1

 2 Domestic nonfinancial sectors 2554.0 1921.2 1057.9 1472.3 1352.7 1872.6 1821.9 2024.0 1059.2 2585.4 1850.5 2

 3 Household sector 853.5 -25.2 -228.6 -342.5 -201.6 20.4 -126.5 161.0 -232.5 279.5 -77.2 3

 4 Nonfinancial corporate business 855.1 370.5 -150.5 194.6 525.1 646.9 491.8 516.8 559.3 1019.5 664.4 4

 5 Nonfinancial noncorporate business 461.6 318.8 -120.0 -29.6 13.9 70.5 29.6 70.3 45.0 137.3 10.6 5

 6 State and local governments 146.7 17.9 113.0 69.5 -52.7 -5.3 -1.0 93.0 -2.8 -110.2 55.2 6

 7 Federal government 237.1 1239.2 1443.9 1580.2 1067.9 1140.2 1428.1 1182.9 690.2 1259.4 1197.6 7

 8 Rest of the world 170.3 -226.2 211.8 75.3 34.8 43.9 -4.1 -115.0 86.2 208.5 452.4 8

 9 Financial sectors 1814.2 896.9 -1808.7 -931.7 -435.3 -394.0 -333.7 -697.4 -275.1 -269.8 88.8 9

 10 U.S.-chartered depository institutions 222.5 -0.9 -292.2 -161.7 -73.9 -27.2 -41.4 -10.1 -97.8 40.4 -12.1 10

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

 12 Credit unions 13.4 8.3 -14.1 -0.4 -2.0 0.9 -5.1 3.3 2.6 2.8 -11.4 12

 13 Life insurance companies 14.5 26.2 -6.6 -3.2 1.8 4.8 6.6 15.7 -0.2 -3.0 5.2 13

 14 Government-sponsored enterprises 282.4 271.7 -475.3 -233.8 -187.2 -154.6 -274.9 -155.0 -113.2 -75.4 43.1 14

 15 Agency- and GSE-backed mortgage pools 623.3 497.0 415.3 186.9 165.3 132.2 159.6 136.2 94.9 138.4 166.3 15

 16 ABS issuers 350.5 -413.5 -736.9 -497.5 -248.0 -216.0 -223.4 -263.2 -251.9 -125.5 -146.7 16

 17 Finance companies 34.9 -79.4 -156.2 -174.9 -12.8 -53.7 -25.0 -122.9 81.6 -148.7 -55.2 17

 18 REITs 10.2 -53.8 -50.0 -2.1 28.2 42.9 26.6 57.3 27.4 60.4 16.0 18

 19 Brokers and dealers -4.0 77.7 -49.7 36.9 -37.9 -1.7 24.8 16.5 -65.2 17.3 -4.3 19

 20 Holding companies 151.9 97.3 -8.0 -16.5 -16.5 -97.7 12.3 -360.2 26.2 -69.3 -24.4 20

 21 Funding corporations 114.5 466.4 -434.8 -65.3 -52.4 -23.8 6.2 -15.1 20.7 -107.1 112.3 21

 22 Credit market lending 4538.5 2591.8 -539.0 615.9 952.3 1522.6 1484.2 1211.6 870.3 2524.2 2391.6 22

 23 Domestic nonfinancial sectors 416.9 242.4 269.5 206.5 -368.5 35.0 -175.0 580.0 -560.3 295.5 -121.4 23

 24 Household sector 379.5 407.0 45.6 76.8 -273.0 -18.0 -180.7 449.7 -719.4 378.6 -233.6 24

 25 Nonfinancial corporate business -75.9 -34.6 10.0 2.6 -5.3 21.5 38.3 30.3 60.6 -43.1 -39.8 25

 26 Nonfinancial noncorporate business 10.0 -10.9 -6.7 6.6 1.0 1.2 0.7 0.8 0.6 2.8 0.8 26

 27 State and local governments 97.4 -204.3 -74.8 35.4 -90.6 -52.0 -67.1 -4.2 -28.3 -108.5 10.8 27

 28 Federal government 5.9 85.2 295.4 85.0 -0.7 82.3 33.8 103.4 126.2 65.7 140.3 28

 29 Rest of the world 943.4 377.2 123.5 622.9 352.7 410.1 343.8 155.4 684.3 456.7 682.2 29

 30 Financial sectors 3178.2 1972.2 -932.1 -213.4 968.1 1077.5 1315.4 476.2 746.2 1772.0 1830.9 30

 31 Monetary authority -38.3 245.4 1001.6 271.5 376.5 34.5 -33.4 -23.5 -203.4 398.4 1134.2 31

 32 U.S.-chartered depository institutions 585.4 241.9 -336.7 -176.6 126.9 357.8 214.6 391.3 117.1 708.4 93.8 32

 33 Foreign banking offices in U.S. 201.7 100.8 -285.8 -30.8 37.7 -0.7 -55.2 -39.4 83.9 7.7 -89.0 33

 34 Banks in U.S.-affiliated areas -6.4 -1.9 -2.8 -19.3 -4.9 -0.1 -0.6 -4.6 -2.9 7.5 -1.1 34

 35 Credit unions 35.3 40.4 33.5 24.0 37.6 46.0 81.6 35.6 34.4 32.5 69.3 35

 36 Property-casualty insurance companies 5.3 -15.9 33.3 3.9 36.2 -2.5 -13.7 -11.0 1.1 13.6 -8.8 36

 37 Life insurance companies 84.8 11.6 139.8 151.6 123.6 69.4 146.5 -109.5 149.0 91.6 97.4 37

 38 Private pension funds 247.3 -210.5 10.3 124.8 52.5 -37.5 -89.1 16.4 -41.8 -35.4 -128.4 38

 39 State and local govt. retirement funds 40.5 -26.5 -85.8 22.1 2.2 1.6 35.6 -24.3 -32.8 27.8 10.0 39

 40 Federal government retirement funds 12.6 23.9 7.4 10.8 20.0 13.9 5.5 16.9 9.4 23.9 -8.7 40

 41 Money market mutual funds 391.8 727.9 -619.9 -396.6 -9.8 -82.7 -87.2 -139.5 9.6 -113.7 104.6 41

 42 Mutual funds 268.0 32.4 387.1 353.6 359.4 707.6 968.1 642.8 714.7 504.7 778.2 42

 43 Closed-end funds -0.4 -40.7 10.6 5.2 -1.2 11.6 11.6 6.3 13.5 14.8 30.4 43

 44 Exchange-traded funds 13.4 23.0 46.0 29.7 46.1 52.3 65.0 73.7 30.3 40.3 28.1 44

 45 Government-sponsored enterprises 239.0 242.9 -323.0 -315.6 -202.3 -223.2 -174.2 -327.0 -177.1 -214.3 -96.9 45

 46 Agency- and GSE-backed mortgage pools 623.3 497.0 415.3 186.9 165.3 132.2 159.6 136.2 94.9 138.4 166.3 46

 47 ABS issuers 347.6 -397.0 -702.3 -487.8 -243.8 -209.6 -214.3 -251.6 -248.0 -124.5 -142.5 47

 48 Finance companies 7.1 -81.9 -217.6 -104.5 -45.8 -28.1 -54.9 -38.3 -40.6 21.3 -52.2 48

 49 REITs -19.9 -68.9 -8.7 37.1 102.9 127.7 215.8 90.3 263.9 -59.3 -39.9 49

 50 Brokers and dealers 219.7 -85.7 -192.1 32.2 5.7 89.1 227.1 -35.4 21.5 143.3 -171.5 50

 51 Holding companies 23.2 13.9 -16.0 22.1 3.1 -39.8 64.1 -158.2 -28.1 -36.9 26.0 51

 52 Funding corporations -102.8 700.1 -226.2 42.2 -20.0 57.8 -157.4 228.9 -22.4 182.0 31.5 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

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Domestic 2554.0 1921.2 1057.9 1472.3 1352.7 1872.6 1821.9 2024.0 1059.2 2585.4 1850.5 1

 2 By instrument 2554.0 1921.2 1057.9 1472.3 1352.7 1872.6 1821.9 2024.0 1059.2 2585.4 1850.5 2

 3 Commercial paper 11.3 7.7 -73.1 24.5 33.4 14.2 -7.8 29.2 -35.3 70.6 20.0 3

 4 Treasury securities 237.5 1239.0 1443.7 1579.6 1066.8 1140.6 1431.5 1182.8 690.5 1257.5 1198.6 4

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

 6 Municipal securities 235.5 92.4 155.3 99.7 -52.8 -4.9 2.8 109.7 -6.8 -125.4 56.7 6

 7 Corporate bonds 323.0 225.4 411.7 438.6 410.8 579.6 523.2 426.0 587.1 782.0 570.2 7

 8 Depository institution loans n.e.c. 228.0 188.4 -303.1 -51.5 71.7 277.6 286.8 396.4 55.4 371.9 67.3 8

 9 Other loans and advances 305.1 87.3 -164.8 -82.4 62.9 -19.1 -111.2 -15.7 -13.7 64.1 52.0 9

 10 Mortgages 1072.2 61.2 -300.6 -519.0 -334.7 -269.4 -441.0 -273.2 -348.4 -15.0 -270.3 10

 11 Home 719.9 -119.1 -203.5 -353.9 -255.3 -241.0 -341.9 -215.8 -306.4 -100.0 -227.6 11

 12 Multifamily residential 89.0 41.7 4.8 -11.8 4.9 17.2 -38.7 26.7 34.6 46.1 -0.5 12

 13 Commercial 258.6 116.6 -98.5 -163.2 -89.1 -52.4 -67.3 -91.0 -83.5 32.0 -49.2 13

 14 Farm 4.6 22.0 -3.4 9.9 4.9 6.9 6.9 6.9 6.9 6.9 6.9 14

 15 Consumer credit 141.9 19.6 -111.5 -17.9 93.4 154.6 141.1 168.7 130.7 177.7 157.1 15

 16 By sector 2554.0 1921.2 1057.9 1472.3 1352.7 1872.6 1821.9 2024.0 1059.2 2585.4 1850.5 16

 17 Household sector 853.5 -25.2 -228.6 -342.5 -201.6 20.4 -126.5 161.0 -232.5 279.5 -77.2 17

 18 Nonfinancial business 1316.7 689.3 -270.5 165.0 539.0 717.4 521.4 587.1 604.3 1156.7 674.9 18

 19 Corporate 855.1 370.5 -150.5 194.6 525.1 646.9 491.8 516.8 559.3 1019.5 664.4 19

 20 Noncorporate 461.6 318.8 -120.0 -29.6 13.9 70.5 29.6 70.3 45.0 137.3 10.6 20

 21 State and local governments 146.7 17.9 113.0 69.5 -52.7 -5.3 -1.0 93.0 -2.8 -110.2 55.2 21

 22 Federal government 237.1 1239.2 1443.9 1580.2 1067.9 1140.2 1428.1 1182.9 690.2 1259.4 1197.6 22

 23 Foreign borrowing in U.S. 170.3 -226.2 211.8 75.3 34.8 43.9 -4.1 -115.0 86.2 208.5 452.4 23

 24 Commercial paper -69.3 -71.0 59.4 -2.7 -53.5 27.6 32.9 -54.2 77.3 54.4 117.6 24

 25 Bonds 218.7 -158.8 163.3 59.9 57.8 -8.5 -73.6 -109.9 -0.0 149.5 294.3 25

 26 Depository institution loans n.e.c. 24.1 5.1 -11.2 17.9 29.2 19.2 29.0 44.8 8.8 -5.9 45.2 26

 27 Other loans and advances -3.2 -1.5 0.3 0.2 1.4 5.7 7.7 4.3 0.2 10.5 -4.7 27

 28 Domestic and foreign 2724.3 1694.9 1269.7 1547.6 1387.5 1916.6 1817.9 1909.0 1145.4 2793.9 2302.9 28

F.3 Credit Market Borrowing by Financial Sectors

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 By instrument 1814.2 896.9 -1808.7 -931.7 -435.3 -394.0 -333.7 -697.4 -275.1 -269.8 88.8 1

 2 Open market paper -111.5 -125.4 -448.1 -102.2 -68.2 -58.7 -6.3 -34.7 -32.0 -161.8 22.4 2

 3 GSE issues 282.4 271.7 -475.3 -233.8 -187.2 -154.6 -274.9 -155.0 -113.2 -75.4 43.1 3

 4 Agency- and GSE-backed mortgage pool sec. 623.3 497.0 415.3 186.9 165.3 132.2 159.6 136.2 94.9 138.4 166.3 4

 5 Corporate bonds 709.5 -282.9 -585.9 -575.1 -325.9 -208.0 -45.1 -434.2 -244.0 -108.9 -178.6 5

 6 Depository institution loans n.e.c. 80.1 496.4 -435.4 -62.9 31.6 -124.0 -150.8 -301.2 50.1 -93.9 -25.7 6

 7 Other loans and advances 225.8 33.3 -282.6 -144.7 -60.0 3.5 -26.5 66.6 -43.1 16.9 38.6 7

 8 Mortgages 4.7 6.8 3.4 0.2 9.1 15.6 10.4 24.9 12.2 14.9 22.7 8

 9 By sector 1814.2 896.9 -1808.7 -931.7 -435.3 -394.0 -333.7 -697.4 -275.1 -269.8 88.8 9

 10 U.S.-chartered depository institutions 222.5 -0.9 -292.2 -161.7 -73.9 -27.2 -41.4 -10.1 -97.8 40.4 -12.1 10

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

 12 Credit unions 13.4 8.3 -14.1 -0.4 -2.0 0.9 -5.1 3.3 2.6 2.8 -11.4 12

 13 Life insurance companies 14.5 26.2 -6.6 -3.2 1.8 4.8 6.6 15.7 -0.2 -3.0 5.2 13

 14 Government-sponsored enterprises 282.4 271.7 -475.3 -233.8 -187.2 -154.6 -274.9 -155.0 -113.2 -75.4 43.1 14

 15 Agency- and GSE-backed mortgage pools 623.3 497.0 415.3 186.9 165.3 132.2 159.6 136.2 94.9 138.4 166.3 15

 16 ABS issuers 350.5 -413.5 -736.9 -497.5 -248.0 -216.0 -223.4 -263.2 -251.9 -125.5 -146.7 16

 17 Finance companies 34.9 -79.4 -156.2 -174.9 -12.8 -53.7 -25.0 -122.9 81.6 -148.7 -55.2 17

 18 REITs 10.2 -53.8 -50.0 -2.1 28.2 42.9 26.6 57.3 27.4 60.4 16.0 18

 19 Brokers and dealers -4.0 77.7 -49.7 36.9 -37.9 -1.7 24.8 16.5 -65.2 17.3 -4.3 19

 20 Holding companies 151.9 97.3 -8.0 -16.5 -16.5 -97.7 12.3 -360.2 26.2 -69.3 -24.4 20

 21 Funding corporations 114.5 466.4 -434.8 -65.3 -52.4 -23.8 6.2 -15.1 20.7 -107.1 112.3 21
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F.4 Credit Market Borrowing, All Sectors, by Instrument

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Total 4538.5 2591.8 -539.0 615.9 952.3 1522.6 1484.2 1211.6 870.3 2524.2 2391.6 1

 2 Open market paper -169.5 -188.8 -461.8 -80.4 -88.3 -17.0 18.8 -59.7 10.0 -36.8 159.9 2

 3 Treasury securities 237.5 1239.0 1443.7 1579.6 1066.8 1140.6 1431.5 1182.8 690.5 1257.5 1198.6 3

 4 Agency- and GSE-backed securities 905.3 768.9 -59.9 -46.2 -20.8 -22.8 -118.7 -18.7 -18.6 64.9 208.4 4

 5 Municipal securities 235.5 92.4 155.3 99.7 -52.8 -4.9 2.8 109.7 -6.8 -125.4 56.7 5

 6 Corporate and foreign bonds 1251.2 -216.3 -10.9 -76.6 142.6 363.0 404.4 -118.1 343.1 822.7 685.9 6

 7 Depository institution loans n.e.c. 332.1 689.9 -749.7 -96.5 132.5 172.9 165.0 140.0 114.3 272.2 86.8 7

 8 Other loans and advances 527.7 119.1 -447.0 -226.9 4.3 -10.0 -130.1 55.3 -56.7 91.5 85.9 8

 9 Mortgages 1076.8 68.0 -297.2 -518.8 -325.6 -253.8 -430.6 -248.3 -336.2 -0.1 -247.7 9

 10 Consumer credit 141.9 19.6 -111.5 -17.9 93.4 154.6 141.1 168.7 130.7 177.7 157.1 10

 Memo:

 Funds raised through corporate equities and mutual fund shares

 11 Total net issues -97.9 254.9 812.6 362.4 119.5 548.0 926.5 258.0 632.3 375.2 1241.6 11

 12 Corporate equities -459.5 264.8 315.5 -7.7 -218.9 -187.7 -195.4 -302.6 -151.9 -100.9 244.2 12

 13 Nonfinancial -786.8 -336.0 -64.6 -278.0 -472.5 -400.7 -291.8 -508.2 -397.1 -405.8 -259.5 13

 Foreign shares purchased by

 14 U.S. residents 147.8 -38.5 63.7 79.1 89.0 61.0 59.2 83.8 -8.6 109.6 294.2 14

 15 Financial 179.6 639.3 316.4 191.2 164.5 152.0 37.1 121.8 253.8 195.2 209.5 15

 16 Mutual fund shares 361.5 -9.9 497.1 370.1 338.4 735.7 1121.9 560.7 784.2 476.1 997.5 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) 4538.5 2591.8 -539.0 615.9 952.3 1522.6 1484.2 1211.6 870.3 2524.2 2391.6 1

 2 U.S. official reserve assets 0.1 4.8 99.9 1.8 15.9 4.5 4.9 13.2 3.3 -3.6 -3.0 2

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

 4 Treasury currency -0.7 -0.8 -0.4 -0.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Foreign deposits 256.0 -394.3 -106.0 25.9 -32.4 -42.0 -124.3 -134.6 165.1 -74.2 126.6 5

 6 Net interbank transactions -53.4 1823.0 -590.9 -132.9 844.5 -211.3 142.7 -461.9 -249.2 -276.9 1885.9 6

 7 Checkable deposits and currency 36.7 568.4 -7.9 266.3 234.5 268.5 -73.4 313.3 228.0 606.1 297.4 7

 8 Small time and savings deposits 316.4 524.8 517.2 298.3 577.4 539.7 378.9 473.4 584.4 721.9 87.5 8

 9 Large time deposits 283.4 -190.6 -141.8 -182.3 -204.6 -23.6 -87.5 -4.8 -144.5 142.5 -61.1 9

 10 Money market fund shares 736.8 724.2 -498.7 -503.2 -112.8 7.1 -207.3 -164.5 64.2 335.9 -152.7 10

 11 Security RPs -0.1 -888.0 232.0 -197.1 -133.4 -14.0 200.0 -105.8 -189.6 39.3 -130.9 11

 12 Corporate equities -459.5 264.8 315.5 -7.7 -218.9 -187.7 -195.4 -302.6 -151.9 -100.9 244.2 12

 13 Mutual fund shares 361.5 -9.9 497.1 370.1 338.4 735.7 1121.9 560.7 784.2 476.1 997.5 13

 14 Trade payables 202.0 -170.0 -23.1 225.5 48.6 189.3 253.8 166.9 208.1 128.2 120.9 14

 15 Security credit 276.5 -397.9 -95.9 123.6 97.8 188.9 176.2 155.0 249.4 174.9 -142.6 15

 16 Life insurance reserves 34.2 67.0 26.5 17.2 94.1 -11.6 -9.6 -73.2 11.8 24.6 26.7 16

 17 Pension fund reserves 567.5 53.6 30.2 335.2 263.6 239.4 213.1 181.1 328.5 234.8 63.6 17

 18 Taxes payable -69.3 -123.8 -3.4 19.4 20.5 11.9 13.3 22.6 21.7 -10.1 61.1 18

 19 Noncorporate proprietors’ equity 18.4 -284.0 -32.3 143.6 -8.6 -30.3 0.6 -27.4 -34.9 -59.3 -41.1 19

 20 Miscellaneous 2425.5 2269.9 -329.6 1041.8 1158.3 705.2 480.2 645.3 797.8 897.3 1182.6 20

 21 Total financial sources 9470.7 6433.2 -647.5 2461.4 3935.3 3892.0 3772.2 2468.2 3546.7 5780.9 6954.0 21

 - Liabilities not identified as assets:

 22 Treasury currency -1.2 -0.8 -4.4 -1.1 -0.7 -0.6 -0.8 -0.5 -0.5 -0.5 -0.9 22

 23 Foreign deposits 205.3 -330.4 -118.1 6.5 38.3 -18.2 -54.8 -52.3 128.2 -93.9 100.9 23

 24 Net interbank liabilities 3.8 60.7 29.1 22.1 20.3 6.6 66.2 -291.0 202.8 48.4 186.7 24

 25 Security RPs -205.0 -590.0 465.4 -76.7 -118.7 -106.6 84.2 -239.8 -317.2 46.4 -513.7 25

 26 Taxes payable -36.5 -64.0 -32.6 -10.5 -16.0 -40.7 -68.2 -2.8 -26.7 -65.2 9.9 26

 27 Miscellaneous -376.2 2029.8 -264.7 196.3 -39.2 -127.9 -255.8 -315.8 569.8 -509.9 -230.7 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. 1.2 -3.3 0.7 0.0 -0.1 0.6 -46.2 100.3 2.6 -54.2 -45.0 29

 30 Private domestic -0.1 -2.0 -1.0 -1.1 0.9 0.7 -1.1 -0.3 -0.8 4.8 -6.4 30

 31 Trade credit -23.9 29.0 105.4 91.7 -50.4 60.6 17.5 57.9 42.3 124.9 137.6 31

 Totals identified to sectors

 32 as assets 9903.4 5304.3 -827.3 2234.1 4101.0 4117.4 4031.1 3212.5 2946.0 6279.9 7315.5 32
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L.1 Credit Market Debt Outstanding (1)

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

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Total credit market debt owed by: 50953.0 53353.2 53252.5 53620.8 54589.6 56447.3 55022.6 55232.1 55755.3 56447.3 56999.4 1

 2 Domestic nonfinancial sectors 32622.3 34543.4 35473.7 36909.5 38267.5 40121.4 38715.1 39100.4 39437.8 40121.4 40570.3 2

 3 Household sector 13689.3 13669.0 13397.0 13059.9 12863.7 12819.3 12791.0 12823.0 12726.0 12819.3 12758.4 3

 4 Nonfinancial corporate business 7198.5 7564.0 7329.5 7485.9 8012.6 8704.7 8125.4 8257.6 8459.6 8704.7 8859.1 4

 5 Nonfinancial noncorporate business 3774.6 4093.4 3973.3 3940.0 3952.4 4023.6 3960.5 3976.3 3987.1 4023.6 4027.9 5

 6 State and local governments 2837.5 2855.4 2968.4 3038.0 2985.3 2980.0 2986.3 2993.3 2985.3 2980.0 2994.9 6

 7 Federal government 5122.3 6361.5 7805.4 9385.6 10453.6 11593.7 10851.9 11050.1 11279.9 11593.7 11930.1 7

 8 Rest of the world 2126.3 1708.8 2090.3 2225.3 2276.7 2414.7 2318.3 2297.9 2366.0 2414.7 2532.9 8

 9 Financial sectors 16204.5 17101.0 15688.5 14486.0 14045.4 13911.3 13989.3 13833.8 13951.5 13911.3 13896.2 9

 10 U.S.-chartered depository institutions 991.2 990.3 718.1 942.6 868.7 840.3 840.8 844.7 822.2 840.3 820.7 10

 11 Foreign banking offices in U.S. 0.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Credit unions 32.3 40.6 26.5 26.1 24.2 25.1 22.9 23.7 24.4 25.1 22.2 12

 13 Life insurance companies 28.7 54.9 48.3 45.1 46.8 51.6 48.5 52.4 52.4 51.6 52.9 13

 14 Government-sponsored enterprises 2910.2 3181.9 2706.6 6434.5 6247.3 6092.7 6178.6 6139.8 6111.5 6092.7 6103.5 14

 15 Agency- and GSE-backed mortgage pools 4464.4 4961.4 5376.7 1139.5 1304.8 1437.0 1329.9 1377.3 1408.0 1437.0 1462.7 15

 16 ABS issuers 4514.5 4101.0 3287.6 2230.8 1982.8 1766.8 1922.8 1862.0 1800.5 1766.8 1726.1 16

 17 Finance companies 1279.6 1200.3 1044.1 1281.0 1262.9 1209.1 1251.8 1235.9 1246.2 1209.1 1191.0 17

 18 REITs 421.2 367.4 317.4 315.2 343.4 386.3 350.1 364.4 371.2 386.3 390.3 18

 19 Brokers and dealers 64.8 142.6 92.9 129.7 91.8 90.2 98.0 102.1 85.8 90.2 89.1 19

 20 Holding companies 710.6 807.9 1253.7 1237.2 1220.8 1418.6 1303.9 1213.9 1428.7 1418.6 1412.5 20

 21 Funding corporations 786.4 1252.8 816.8 704.2 651.8 593.6 642.0 617.4 600.6 593.6 625.2 21

 22 Total credit market assets held by: 50953.0 53353.2 53252.5 53620.8 54589.6 56447.3 55022.6 55232.1 55755.3 56447.3 56999.4 22

 23 Domestic nonfinancial sectors 7036.4 7210.6 7878.9 8291.9 7669.9 7790.1 7703.7 7705.0 7746.4 7790.1 7809.9 23

 24 Household sector 4865.4 5204.1 5648.4 5928.1 5401.6 5468.8 5438.4 5414.7 5419.1 5468.8 5464.9 24

 25 Nonfinancial corporate business 248.4 213.7 223.7 230.1 224.8 246.3 227.9 234.7 248.3 246.3 230.3 25

 26 Nonfinancial noncorporate business 106.7 95.8 89.1 95.8 96.8 98.0 96.9 97.1 97.3 98.0 98.2 26

 27 State and local governments 1534.8 1330.6 1255.7 1291.1 1200.6 1148.5 1184.6 1183.4 1170.3 1148.5 1151.9 27

 28 Federal government 281.1 366.4 661.8 746.9 746.2 828.5 755.8 775.0 811.5 828.5 864.6 28

 29 Rest of the world 7272.2 7523.7 7723.4 8498.9 9122.0 9640.1 9190.6 9291.8 9543.7 9640.1 9820.0 29

 30 Financial sectors 36644.5 38618.9 37650.2 36830.0 37797.7 39017.1 38128.3 38235.3 38465.3 39017.1 39369.4 30

 31 Monetary authority 740.6 986.0 1987.7 2259.2 2635.6 2670.1 2613.4 2610.9 2565.1 2670.1 2939.8 31

 32 U.S.-chartered depository institutions 9201.0 9442.9 9131.1 9341.5 9468.4 9815.1 9462.8 9564.3 9622.3 9815.1 9789.9 32

 33 Foreign banking offices in U.S. 963.3 1063.8 777.9 747.1 784.9 784.1 775.5 760.4 778.3 784.1 766.9 33

 34 Banks in U.S.-affiliated areas 92.8 90.9 88.1 68.9 64.0 63.9 63.9 62.7 62.0 63.9 63.6 34

 35 Credit unions 657.9 701.1 734.6 758.6 796.2 842.3 814.6 829.1 837.8 842.3 857.6 35

 36 Property-casualty insurance companies 869.3 853.4 886.7 890.6 926.8 924.3 923.4 920.6 920.9 924.3 922.1 36

 37 Life insurance companies 2871.2 2882.8 3022.6 3174.2 3297.9 3367.3 3333.6 3307.7 3349.5 3367.3 3390.8 37

 38 Private pension funds 1043.4 833.0 843.3 968.0 1020.5 983.0 998.2 1002.3 991.9 983.0 950.9 38

 39 State and local govt. retirement funds 849.5 823.0 737.2 759.3 761.5 763.0 770.4 764.3 756.1 763.0 765.5 39

 40 Federal government retirement funds 99.4 123.3 130.7 141.5 161.6 175.5 163.0 167.2 169.5 175.5 173.3 40

 41 Money market mutual funds 1962.0 2689.9 2070.0 1673.4 1663.6 1580.9 1600.7 1528.4 1520.2 1580.9 1562.8 41

 42 Mutual funds 2196.7 2229.2 2616.3 2969.9 3329.3 4036.9 3581.7 3741.5 3907.7 4036.9 4243.1 42

 43 Closed-end funds 171.2 130.4 141.1 146.3 145.1 156.7 148.0 149.6 153.0 156.7 164.3 43

 44 Exchange-traded funds 34.1 57.1 103.0 132.7 178.8 231.1 195.1 213.5 221.1 231.1 238.2 44

 45 Government-sponsored enterprises 2829.5 3037.5 2714.4 6360.5 6158.2 5935.1 6121.9 6033.0 5971.7 5935.1 5920.4 45

 46 Agency- and GSE-backed mortgage pools 4464.4 4961.4 5376.7 1139.5 1304.8 1437.0 1329.9 1377.3 1408.0 1437.0 1462.7 46

 47 ABS issuers 4399.8 4002.8 3224.0 2179.0 1935.3 1725.7 1877.5 1819.6 1759.1 1725.7 1686.0 47

 48 Finance companies 1816.3 1734.4 1516.7 1440.1 1394.3 1361.2 1382.3 1365.7 1363.8 1361.2 1351.6 48

 49 REITs 246.5 177.6 168.9 206.0 308.9 436.6 362.9 385.5 451.4 436.6 426.6 49

 50 Brokers and dealers 803.1 717.4 525.3 557.5 563.2 652.3 610.7 600.5 589.1 652.3 600.4 50

 51 Holding companies 59.1 73.0 75.8 97.9 101.1 219.5 223.0 183.4 229.9 219.5 226.0 51

 52 Funding corporations 273.3 1008.0 778.0 818.2 797.9 855.5 776.1 847.8 837.0 855.5 866.9 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

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Domestic 32622.3 34543.4 35473.7 36909.5 38267.5 40121.4 38715.1 39100.4 39437.8 40121.4 40570.3 1

 2 By instrument 32622.3 34543.4 35473.7 36909.5 38267.5 40121.4 38715.1 39100.4 39437.8 40121.4 40570.3 2

 3 Commercial paper 123.8 131.5 58.4 82.9 116.3 130.5 127.6 132.1 136.1 130.5 140.2 3

 4 Treasury securities 5099.2 6338.2 7781.9 9361.5 10428.3 11568.9 10827.5 11025.6 11255.5 11568.9 11905.5 4

 5 Agency- and GSE-backed securities 23.1 23.3 23.5 24.2 25.3 24.9 24.4 24.5 24.4 24.9 24.6 5

 6 Municipal securities 3424.8 3517.2 3672.5 3772.1 3719.4 3714.4 3720.0 3732.4 3719.4 3714.4 3728.6 6

 7 Corporate bonds 3729.1 3954.5 4366.2 4804.8 5215.6 5795.2 5346.4 5452.9 5599.7 5795.2 5937.7 7

 8 Depository institution loans n.e.c. 1664.2 1852.6 1500.2 1465.5 1542.6 1746.4 1585.7 1685.6 1645.7 1746.4 1748.6 8

 9 Other loans and advances 1620.0 1707.3 1458.4 1304.4 1367.3 1410.2 1352.7 1348.6 1397.3 1410.2 1428.7 9

 10 Mortgages 14431.8 14493.0 14192.4 13571.8 13237.1 12962.7 13124.9 13052.2 12954.2 12962.7 12894.0 10

 11 Home 11207.4 11096.7 10893.2 10426.3 10171.0 9925.0 10084.8 10026.2 9936.7 9925.0 9868.0 11

 12 Multifamily residential 770.0 816.2 821.0 810.4 815.2 832.4 805.6 812.2 820.9 832.4 832.3 12

 13 Commercial 2341.7 2445.4 2346.9 2193.9 2104.8 2052.3 2086.8 2064.2 2045.3 2052.3 2038.9 13

 14 Farm 112.7 134.7 131.3 141.2 146.1 153.0 147.8 149.5 151.3 153.0 154.7 14

 15 Consumer credit 2506.3 2525.9 2420.2 2522.2 2615.7 2768.2 2605.9 2646.6 2705.5 2768.2 2762.4 15

 16 By sector 32622.3 34543.4 35473.7 36909.5 38267.5 40121.4 38715.1 39100.4 39437.8 40121.4 40570.3 16

 17 Household sector 13689.3 13669.0 13397.0 13059.9 12863.7 12819.3 12791.0 12823.0 12726.0 12819.3 12758.4 17

 18 Nonfinancial business 10973.1 11657.4 11302.8 11426.0 11965.0 12728.3 12085.9 12234.0 12446.7 12728.3 12886.9 18

 19 Corporate 7198.5 7564.0 7329.5 7485.9 8012.6 8704.7 8125.4 8257.6 8459.6 8704.7 8859.1 19

 20 Noncorporate 3774.6 4093.4 3973.3 3940.0 3952.4 4023.6 3960.5 3976.3 3987.1 4023.6 4027.9 20

 21 State and local governments 2837.5 2855.4 2968.4 3038.0 2985.3 2980.0 2986.3 2993.3 2985.3 2980.0 2994.9 21

 22 Federal government 5122.3 6361.5 7805.4 9385.6 10453.6 11593.7 10851.9 11050.1 11279.9 11593.7 11930.1 22

 Foreign credit market debt

 23 held in U.S. 2126.3 1708.8 2090.3 2225.3 2276.7 2414.7 2318.3 2297.9 2366.0 2414.7 2532.9 23

 24 Commercial paper 413.0 342.0 401.3 398.6 345.1 372.7 362.6 357.4 366.4 372.7 407.2 24

 25 Bonds 1587.1 1237.3 1570.3 1689.5 1763.8 1843.6 1775.3 1748.0 1802.3 1843.6 1917.2 25

 26 Depository institution loans n.e.c. 102.8 107.9 96.8 115.1 144.3 165.5 153.6 164.8 167.0 165.5 176.8 26

 27 Other loans and advances 23.4 21.6 21.9 22.1 23.5 32.8 26.7 27.8 30.2 32.8 31.6 27

 28 Domestic and foreign 34748.6 36252.2 37564.0 39134.8 40544.2 42536.1 41033.4 41398.3 41803.8 42536.1 43103.2 28

L.3 Credit Market Debt Owed by Financial Sectors

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

 1 By instrument 16204.5 17101.0 15688.5 14486.0 14045.4 13911.3 13989.3 13833.8 13951.5 13911.3 13896.2 1

 2 Open market paper 1252.1 1126.3 678.2 576.0 507.9 449.2 504.3 472.6 454.7 449.2 453.8 2

 3 GSE issues 2910.2 3181.9 2706.6 6434.5 6247.3 6092.7 6178.6 6139.8 6111.5 6092.7 6103.5 3

 4 Agency- and GSE-backed mortgage pool sec. 4464.4 4961.4 5376.7 1139.5 1304.8 1437.0 1329.9 1377.3 1408.0 1437.0 1462.7 4

 5 Corporate bonds 6260.8 5977.9 5717.5 5322.1 4996.2 4985.3 5045.0 4946.0 5019.6 4985.3 4936.8 5

 6 Depository institution loans n.e.c. 293.1 789.5 424.7 373.7 399.9 338.7 362.6 299.7 365.3 338.7 332.2 6

 7 Other loans and advances 867.1 900.5 617.9 473.2 413.1 416.6 390.2 413.3 404.4 416.6 409.7 7

 8 Mortgages 156.7 163.5 166.9 167.1 176.2 191.8 178.8 185.0 188.0 191.8 197.4 8

 9 By sector 16204.5 17101.0 15688.5 14486.0 14045.4 13911.3 13989.3 13833.8 13951.5 13911.3 13896.2 9

 10 U.S.-chartered depository institutions 991.2 990.3 718.1 942.6 868.7 840.3 840.8 844.7 822.2 840.3 820.7 10

 11 Foreign banking offices in U.S. 0.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Credit unions 32.3 40.6 26.5 26.1 24.2 25.1 22.9 23.7 24.4 25.1 22.2 12

 13 Life insurance companies 28.7 54.9 48.3 45.1 46.8 51.6 48.5 52.4 52.4 51.6 52.9 13

 14 Government-sponsored enterprises 2910.2 3181.9 2706.6 6434.5 6247.3 6092.7 6178.6 6139.8 6111.5 6092.7 6103.5 14

 15 Agency- and GSE-backed mortgage pools 4464.4 4961.4 5376.7 1139.5 1304.8 1437.0 1329.9 1377.3 1408.0 1437.0 1462.7 15

 16 ABS issuers 4514.5 4101.0 3287.6 2230.8 1982.8 1766.8 1922.8 1862.0 1800.5 1766.8 1726.1 16

 17 Finance companies 1279.6 1200.3 1044.1 1281.0 1262.9 1209.1 1251.8 1235.9 1246.2 1209.1 1191.0 17

 18 REITs 421.2 367.4 317.4 315.2 343.4 386.3 350.1 364.4 371.2 386.3 390.3 18

 19 Brokers and dealers 64.8 142.6 92.9 129.7 91.8 90.2 98.0 102.1 85.8 90.2 89.1 19

 20 Holding companies 710.6 807.9 1253.7 1237.2 1220.8 1418.6 1303.9 1213.9 1428.7 1418.6 1412.5 20

 21 Funding corporations 786.4 1252.8 816.8 704.2 651.8 593.6 642.0 617.4 600.6 593.6 625.2 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

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Total 50953.0 53353.2 53252.5 53620.8 54589.6 56447.3 55022.6 55232.1 55755.3 56447.3 56999.4 1

 2 Open market paper 1788.9 1599.8 1138.0 1057.6 969.3 952.3 994.4 962.0 957.2 952.3 1001.2 2

 3 Treasury securities 5099.2 6338.2 7781.9 9361.5 10428.3 11568.9 10827.5 11025.6 11255.5 11568.9 11905.5 3

 4 Agency- and GSE-backed securities 7397.7 8166.7 8106.8 7598.2 7577.4 7554.6 7533.0 7541.7 7543.9 7554.6 7590.8 4

 5 Municipal securities 3424.8 3517.2 3672.5 3772.1 3719.4 3714.4 3720.0 3732.4 3719.4 3714.4 3728.6 5

 6 Corporate and foreign bonds 11577.0 11169.7 11654.0 11816.3 11975.5 12624.1 12166.7 12146.9 12421.6 12624.1 12791.7 6

 7 Depository institution loans n.e.c. 2060.1 2750.0 2021.7 1954.3 2086.8 2250.6 2101.9 2150.1 2178.0 2250.6 2257.7 7

 8 Other loans and advances 2510.6 2629.3 2098.1 1799.7 1803.9 1859.6 1769.6 1789.6 1831.9 1859.6 1870.0 8

 9 Mortgages 14588.5 14656.5 14359.3 13738.9 13413.3 13154.5 13303.7 13237.2 13142.2 13154.5 13091.4 9

 10 Consumer credit 2506.3 2525.9 2420.2 2522.2 2615.7 2768.2 2605.9 2646.6 2705.5 2768.2 2762.4 10

 Memo:

 Selected claims not included above:

 11 Corporate equities 25580.9 15640.5 20085.5 23370.8 22737.3 26028.4 25432.9 24351.5 25742.1 26028.4 28438.4 11

 12 Mutual fund shares 7822.6 5388.0 6920.7 7873.0 7870.9 9323.6 8797.4 8653.4 9131.0 9323.6 10014.6 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) 50953.0 53353.2 53252.5 53620.8 54589.6 56447.3 55022.6 55232.1 55755.3 56447.3 56999.4 1

 2 U.S. official reserve assets 67.3 74.2 175.1 175.8 183.8 181.8 184.5 181.7 184.7 181.8 175.5 2

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

 4 Treasury currency 27.4 26.6 26.2 25.9 25.9 25.9 25.9 25.9 25.9 25.9 25.9 4

 5 Foreign deposits 1340.9 946.7 840.6 866.5 834.1 792.1 803.0 769.4 810.6 792.1 823.7 5

 6 Net interbank liabilities 136.3 1922.9 1325.6 1189.3 2016.0 1828.8 2027.5 1980.0 1911.3 1828.8 2271.1 6

 7 Checkable deposits and currency 1532.9 2101.3 2093.4 2359.8 2594.3 2857.8 2520.5 2594.3 2640.4 2857.8 2877.1 7

 8 Small time and savings deposits 5224.5 5749.3 6326.5 6624.9 7202.2 7803.9 7410.5 7456.9 7595.4 7803.9 7871.4 8

 9 Large time deposits 2382.2 2191.6 1989.8 1807.5 1603.0 1508.5 1504.3 1511.1 1485.0 1508.5 1491.0 9

 10 Money market fund shares 3033.0 3757.3 3258.6 2755.4 2642.5 2649.6 2535.5 2467.9 2506.9 2649.6 2554.0 10

 11 Security RPs 2150.4 1262.5 1496.9 1276.0 1148.0 1122.9 1194.6 1183.6 1149.0 1122.9 1097.5 11

 12 Mutual fund shares 7822.6 5388.0 6920.7 7873.0 7870.9 9323.6 8797.4 8653.4 9131.0 9323.6 10014.6 12

 13 Security credit 1526.4 1128.5 1091.2 1214.8 1312.6 1512.5 1375.5 1410.2 1482.4 1512.5 1484.5 13

 14 Life insurance reserves 1201.5 1179.8 1242.1 1278.3 1352.0 1359.0 1366.9 1342.3 1353.2 1359.0 1379.1 14

 15 Pension fund reserves 13236.1 10567.7 11959.2 13209.9 13434.1 14444.1 14117.1 13943.1 14402.2 14444.1 15007.6 15

 16 Trade payables 3398.0 3228.0 3204.9 3430.3 3478.9 3665.7 3532.1 3592.9 3636.9 3665.7 3689.6 16

 17 Taxes payable 167.7 44.0 40.6 54.3 75.0 81.2 85.5 83.1 93.0 81.2 109.5 17

 18 Miscellaneous 17197.7 19811.0 19778.8 20240.8 20606.5 21130.8 20863.1 20754.1 21050.0 21130.8 20714.5 18

 19 Total liabilities 111400.3 112734.6 115027.6 118008.3 120974.7 126740.9 123371.8 123187.2 125218.5 126740.9 128591.3 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 25580.9 15640.5 20085.5 23370.8 22737.3 26028.4 25432.9 24351.5 25742.1 26028.4 28438.4 21

 22 Household equity in noncorp. bus. 9329.1 7730.8 6459.8 7120.5 7673.2 8141.4 7713.7 7784.0 8016.5 8141.4 8194.6 22

 - Liabilities not identified as assets:

 23 Treasury currency -11.3 -12.1 -16.5 -17.6 -18.3 -18.8 -18.5 -18.6 -18.7 -18.8 -19.0 23

 24 Foreign deposits 1110.0 779.5 661.4 668.0 706.3 688.1 692.6 679.5 711.6 688.1 713.3 24

 25 Net interbank transactions -41.8 -17.5 5.1 23.8 26.4 54.0 30.0 17.0 64.9 54.0 82.0 25

 26 Security RPs 723.6 143.1 520.3 413.8 300.4 173.4 336.8 301.4 204.2 173.4 70.5 26

 27 Taxes payable -52.9 -193.3 -204.4 -194.7 -187.8 -189.2 -180.5 -186.4 -176.1 -189.2 -165.9 27

 28 Miscellaneous -8485.5 -6070.2 -6408.3 -6816.6 -7810.5 -8928.9 -8161.7 -8516.8 -8600.9 -8928.9 -8679.1 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. 2.8 1.2 2.0 2.5 2.5 2.3 2.9 3.4 3.2 2.3 1.5 30

 31 Private domestic 7.3 5.3 4.2 3.2 4.1 4.7 3.7 3.8 3.7 4.7 3.1 31

 32 Trade credit 206.8 235.7 341.1 436.6 386.1 444.3 319.7 302.4 321.6 444.3 409.5 32

 33 Totals identified to sectors as assets 152862.5 141245.3 146679.1 153991.8 157987.2 168691.8 163504.3 162748.1 166474.6 168691.8 172819.6 33
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F.6 Distribution of Gross Domestic Product (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Gross Domestic Product (GDP) 14028.7 14291.5 13973.7 14498.9 15075.7 15684.8 15478.3 15585.6 15811.0 15864.1 16004.5 1

 2 Personal consumption expenditures (2) 9772.3 10035.5 9845.9 10215.7 10729.0 11119.6 11007.2 11067.2 11154.4 11249.6 11372.7 2

 3 Durable goods 1188.4 1108.9 1029.6 1079.4 1146.4 1218.9 1204.6 1200.3 1218.9 1252.0 1273.5 3

 4 Nondurable goods 2175.5 2272.8 2164.8 2285.5 2478.4 2564.2 2551.3 2541.2 2573.6 2590.8 2599.4 4

 5 Services 6408.3 6653.8 6651.5 6850.9 7104.2 7336.4 7251.3 7325.7 7361.9 7406.9 7499.8 5

 6 Gross private domestic investment 2295.2 2087.6 1549.3 1737.3 1854.9 2062.3 2032.2 2041.7 2080.1 2095.1 2151.1 6

 7 Fixed investment 2266.1 2128.7 1703.5 1679.0 1818.3 2004.2 1959.7 1986.9 1997.9 2072.4 2102.8 7

 8 Nonresidential 1637.5 1656.3 1349.3 1338.4 1479.6 1621.3 1595.5 1614.1 1610.0 1665.5 1677.3 8

 9 Household sector (nonprofit organizations) 120.2 132.0 123.9 109.9 112.0 118.8 119.0 119.5 117.5 119.3 120.7 9

 10 Nonfinancial corporate business 1104.7 1130.9 903.0 918.1 1021.5 1119.2 1101.4 1114.1 1111.5 1149.8 1157.5 10

 11 Nonfinancial noncorporate business 225.0 198.4 158.0 155.6 173.3 191.6 187.5 191.9 190.8 196.3 194.7 11

 12 Financial institutions 187.5 195.0 164.4 154.8 172.9 191.6 187.6 188.6 190.2 200.0 204.5 12

 13 Residential 628.7 472.4 354.1 340.6 338.7 382.9 364.2 372.8 387.9 406.9 425.4 13

 14 Household sector 541.7 397.2 295.5 288.9 286.4 314.7 298.2 306.2 319.2 335.2 350.8 14

 15 Nonfinancial corporate business 15.7 5.5 4.4 -1.0 -2.5 9.8 9.3 8.1 10.1 11.5 12.4 15

 16 Nonfinancial noncorporate business 80.5 69.6 54.3 48.0 48.6 53.2 51.9 52.1 53.5 55.4 57.3 16

 17 REITs -9.3 0.1 -0.1 4.7 6.3 5.3 4.9 6.4 5.1 4.9 4.9 17

 18 Change in private inventories 29.1 -41.1 -154.2 58.4 36.6 58.1 72.6 54.8 82.3 22.7 48.3 18

 19 Nonfinancial corporate business 28.2 -40.2 -145.3 60.7 39.1 66.5 71.9 61.0 96.9 36.4 36.2 19

 20 Nonfinancial noncorporate business 0.9 -0.9 -8.9 -2.3 -2.5 -8.5 0.7 -6.3 -14.6 -13.7 12.2 20

 21 Net U.S. exports of goods and services -713.1 -709.7 -388.7 -511.6 -568.1 -559.9 -615.8 -576.9 -516.8 -530.2 -543.0 21

 22 Exports 1661.7 1846.8 1587.4 1844.4 2094.2 2184.0 2157.9 2188.5 2198.7 2191.1 2203.8 22

 23 - Imports 2374.8 2556.5 1976.2 2356.1 2662.3 2744.0 2773.7 2765.4 2715.5 2721.3 2746.8 23

 Government consumption expenditures and

 24 gross investment 2674.2 2878.1 2967.2 3057.5 3059.8 3062.8 3054.6 3053.7 3093.3 3049.7 3023.7 24

 25 Consumption expenditures (3) 2217.8 2381.0 2460.3 2552.0 2579.5 2590.5 2586.9 2580.3 2618.7 2575.9 2567.1 25

 26 Federal 848.9 931.7 987.0 1055.8 1061.5 1059.6 1055.6 1054.8 1086.3 1041.9 1031.5 26

 27 State and local 1368.9 1449.2 1473.3 1496.2 1518.0 1530.8 1531.4 1525.5 1532.4 1534.0 1535.6 27

 28 Gross investment (3) 456.5 497.2 506.9 505.5 480.2 472.3 467.6 473.4 474.5 473.7 456.5 28

 29 Federal 127.4 148.4 156.6 167.3 160.5 154.6 152.1 155.9 155.1 155.4 145.8 29

 30 State and local 329.0 348.8 350.3 338.2 319.7 317.7 315.5 317.5 319.5 318.3 310.8 30

 Memo:

 31 Net U.S. income receipts from rest of the world 123.3 169.2 143.5 209.3 251.9 243.0 214.9 247.3 243.1 266.6 232.2 31

 32 U.S. income receipts 871.0 856.1 642.4 716.5 783.7 782.3 769.6 775.1 775.8 808.5 786.7 32

 33 - U.S. income payments 747.7 686.9 498.9 507.2 531.8 539.3 554.7 527.8 532.7 541.8 554.4 33

 Gross National Product (GNP) =

 34 GDP + net U.S. income receipts 14151.9 14460.7 14117.2 14708.2 15327.5 15927.8 15693.2 15832.9 16054.2 16130.8 16236.8 34

 Acquisition of nonproduced nonfinancial assets (net)

 35 Household sector -11.3 -11.2 -9.9 -9.2 -9.3 -8.8 -9.1 -8.9 -8.8 -8.6 -8.4 35

 36 Nonfinancial corporate business -1.7 16.3 4.4 -2.6 -2.1 -2.8 -1.6 -1.9 -4.0 -3.6 -3.6 36

 37 State and local governments 13.8 14.1 12.7 11.5 11.5 10.9 11.2 11.0 10.8 10.6 10.4 37

 38 Federal governments -1.3 -19.2 -7.1 0.2 -0.1 0.7 -0.5 -0.2 1.9 1.6 1.7 38

 39 Rest of the world 0.5 -0.0 0.0 -0.0 -0.1 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) Government inventory investment is included in consumption expenditures.
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F.7 Distribution of National Income (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 National Income 12396.4 12609.1 12132.6 12811.4 13358.9 13875.9 13707.2 13750.5 13895.9 14150.0 14236.2 1

 2 Compensation of employees 7855.9 8068.3 7799.4 7970.0 8295.2 8592.9 8495.7 8527.7 8577.6 8770.4 8765.1 2

 3 Wages and other labor income 7402.2 7603.2 7337.5 7501.9 7800.3 8078.1 7985.4 8016.8 8064.8 8245.3 8235.4 3

 4 Employer social insurance contributions 459.9 470.1 456.9 468.1 494.9 514.8 510.2 510.8 512.9 525.1 529.7 4

 5 Wage accruals less disbursements -6.3 -5.0 5.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 Proprietors’ income with inventory

 6 valuation and capital consumption adjustments 1090.4 1097.9 979.4 1103.4 1157.3 1202.3 1184.3 1194.9 1205.4 1224.7 1264.0 6

 Rental income of persons (with capital

 7 consumption adjustment) 143.7 231.6 289.7 349.2 409.7 462.6 445.3 452.8 471.0 481.5 505.1 7

 Corporate profits with inventory

 8 valuation and capital consumption adjustments 1510.6 1248.4 1342.3 1702.4 1827.0 1950.6 1900.1 1921.9 1967.6 2013.0 1969.2 8

 Corporate profits with inventory

 9 valuation adjustment 1691.1 1315.5 1443.6 1777.7 1791.6 2151.3 2100.8 2124.3 2167.5 2212.5 2155.8 9

 10 Profits before tax 1738.4 1359.9 1440.5 1816.3 1854.1 2162.2 2124.5 2108.2 2194.4 2221.7 2171.9 10

 11 Domestic nonfinancial 1042.0 831.2 712.9 990.5 1007.0 1247.5 1240.4 1229.8 1256.5 1263.2 1249.3 11

 12 Domestic financial 345.5 122.2 374.8 424.3 408.3 484.7 481.2 441.9 509.6 506.2 503.2 12

 13 Rest of the world 350.9 406.6 352.8 401.6 438.9 430.0 402.9 436.5 428.3 452.4 419.4 13

 Less:

 14 Taxes on corporate income 445.5 309.0 269.4 373.3 379.0 449.3 453.6 443.3 452.4 448.0 434.4 14

 15 Domestic nonfinancial 293.8 227.4 177.8 222.9 246.8 307.6 304.3 304.6 307.9 313.6 311.5 15

 16 Domestic financial 151.7 81.6 91.6 150.4 132.2 141.7 149.3 138.8 144.5 134.4 122.9 16

 Equals:

 17 Profits after tax 1292.9 1050.9 1171.1 1443.0 1475.1 1712.9 1670.9 1664.9 1742.0 1773.7 1737.6 17

 18 Net dividends 794.5 786.9 554.1 600.9 697.2 779.9 727.1 747.5 760.3 884.6 782.9 18

 19 Domestic nonfinancial 484.6 474.1 351.7 385.7 425.3 467.5 432.8 454.9 455.7 526.6 483.0 19

 20 Domestic financial 165.2 132.2 90.5 95.3 128.7 176.3 149.1 167.4 162.6 226.1 155.0 20

 21 Rest of the world 144.8 180.5 111.9 119.9 143.2 136.1 145.2 125.2 142.0 131.8 144.9 21

 22 Undistributed profits 498.4 264.0 617.0 842.1 777.9 933.0 943.7 917.4 981.6 889.2 954.7 22

 23 Domestic nonfinancial 263.6 129.6 183.4 381.9 334.8 472.4 503.3 470.4 492.9 422.9 454.8 23

 24 Domestic financial 28.7 -91.7 192.7 178.5 147.3 166.7 182.8 135.7 202.4 145.7 225.4 24

 25 Rest of the world 206.1 226.1 240.9 281.7 295.7 294.0 257.6 311.3 286.3 320.6 274.5 25

 26 Inventory valuation adjustment -47.2 -44.5 3.2 -38.7 -62.6 -10.9 -23.7 16.0 -26.8 -9.2 -16.1 26

 27 Capital consumption adjustment -180.5 -67.1 -101.3 -75.2 35.4 -200.6 -200.7 -202.4 -200.0 -199.5 -186.6 27

 28 Domestic nonfinancial -158.8 -31.7 -55.4 -34.7 62.7 -148.2 -148.4 -149.7 -147.7 -147.1 -135.2 28

 29 Domestic financial -21.7 -35.4 -45.9 -40.5 -27.3 -52.4 -52.3 -52.7 -52.3 -52.3 -51.4 29

 30 Net interest and miscellaneous payments 731.6 870.1 640.5 567.9 527.4 504.3 515.6 489.5 518.2 493.8 541.5 30

 31 Taxes on production and imports 1027.2 1038.6 1023.2 1055.0 1097.9 1130.0 1128.5 1130.9 1128.4 1132.2 1144.9 31

 32 Less: Subsidies 54.6 52.9 59.7 57.0 61.6 60.8 60.8 61.0 60.6 60.9 60.9 32

 33 Business current transfer payments (net) 103.3 123.0 133.4 140.0 132.6 128.0 130.5 127.9 123.8 129.7 147.2 33

 34 Current surplus of government enterprises -11.8 -16.0 -15.6 -19.5 -26.5 -34.0 -32.0 -34.1 -35.5 -34.5 -39.8 34

 Memo:

 Calculation of Gross Domestic Product

 from National Income: (2)

 35 National Income, from line 1 above 12396.4 12609.1 12132.6 12811.4 13358.9 13875.9 13707.2 13750.5 13895.9 14150.0 14236.2 35

 Plus:

 36 Private consumption of fixed capital 1476.2 1542.9 1542.8 1539.9 1587.4 1647.8 1625.9 1642.0 1654.2 1669.0 1690.5 36

 37 Government consumption of fixed capital 291.3 311.2 323.5 333.5 349.4 363.9 359.0 362.8 365.6 368.4 371.7 37

 38 Statistical discrepancy -12.0 -2.4 118.3 23.3 31.9 40.2 1.1 77.7 138.5 -56.6 -61.5 38

 Less:

 39 Net U.S. income receipts from rest of the world 123.3 169.2 143.5 209.3 251.9 243.0 214.9 247.3 243.1 266.6 232.2 39

 Equals:

 40 Gross Domestic Product 14028.7 14291.5 13973.7 14498.9 15075.7 15684.8 15478.3 15585.6 15811.0 15864.1 16004.5 40

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

(2) The relationship of National Income to Gross Domestic Product is shown on NIPA table 1.7.5 in the Survey of Current Business, Bureau of Economic Analysis.
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F.8 Saving and Investment by Sector (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving 2047.7 1908.2 1555.8 1770.7 1837.5 2020.4 1945.6 1952.4 1982.5 2201.0 2195.7 1

 2 Net saving 280.2 54.1 -310.5 -102.8 -99.3 8.7 -39.3 -52.3 -37.3 163.6 133.6 2

 3 Net private saving 513.2 739.8 1032.0 1294.9 1240.1 1211.9 1147.1 1186.7 1189.9 1324.0 1032.1 3

 4 Domestic business 270.7 152.5 518.8 728.2 750.7 721.4 719.4 731.0 754.8 680.5 751.9 4

 5 Nonfinancial corporate business 226.3 237.5 324.3 533.1 572.5 560.4 551.6 564.8 560.3 565.1 569.4 5

 6 Financial business 44.3 -85.0 194.5 195.1 178.2 161.0 167.8 166.3 194.5 115.4 182.5 6

 7 Households and institutions 242.5 587.3 513.2 566.7 489.4 490.5 427.7 455.7 435.1 643.5 280.2 7

 8 Net government saving -233.0 -685.7 -1342.6 -1397.7 -1339.4 -1203.2 -1186.4 -1239.0 -1227.2 -1160.4 -898.5 8

 9 Federal -245.2 -613.5 -1229.3 -1308.0 -1237.4 -1074.3 -1058.7 -1115.4 -1087.2 -1035.8 -782.3 9

 10 State and local 12.2 -72.2 -113.2 -89.7 -102.0 -129.0 -127.6 -123.7 -140.0 -124.5 -116.2 10

 11 Consumption of fixed capital 1767.5 1854.1 1866.3 1873.4 1936.8 2011.7 1984.9 2004.8 2019.8 2037.4 2062.1 11

 12 Private 1476.2 1542.9 1542.8 1539.9 1587.4 1647.8 1625.9 1642.0 1654.2 1669.0 1690.5 12

 13 Domestic business 1190.7 1248.3 1250.0 1245.0 1285.7 1339.0 1321.3 1335.1 1344.0 1355.6 1372.1 13

 14 Nonfinancial corporate business 840.1 864.3 862.5 860.1 893.7 933.5 920.8 930.8 937.1 945.5 956.6 14

 15 Nonfinancial noncorporate business 210.1 211.3 211.0 209.9 215.0 222.4 219.8 221.7 223.3 225.0 227.5 15

 16 Financial business 140.6 172.7 176.6 175.0 177.0 183.0 180.8 182.6 183.6 185.2 187.9 16

 17 Households and institutions 285.5 294.6 292.7 294.9 301.7 308.8 304.6 306.9 310.2 313.4 318.4 17

 18 Government 291.3 311.2 323.5 333.5 349.4 363.9 359.0 362.8 365.6 368.4 371.7 18

 19 Federal 112.6 120.0 124.8 130.2 137.0 141.5 139.7 141.0 142.0 143.3 144.9 19

 20 State and local 178.7 191.2 198.8 203.3 212.4 222.4 219.2 221.7 223.6 225.1 226.8 20

 Gross domestic investment, capital account

 21 transactions, and net lending, NIPAs 2035.7 1905.8 1674.1 1794.0 1869.4 2060.5 1946.7 2030.1 2121.0 2144.4 2134.2 21

 22 Gross domestic investment 2751.7 2584.8 2056.2 2242.9 2335.1 2534.6 2499.9 2515.1 2554.7 2568.8 2607.7 22

 23 Gross private domestic investment 2295.2 2087.6 1549.3 1737.3 1854.9 2062.3 2032.2 2041.7 2080.1 2095.1 2151.1 23

 24 Domestic business 1633.3 1558.4 1129.8 1338.5 1456.5 1628.8 1615.0 1616.0 1643.5 1640.6 1679.7 24

 25 Nonfinancial corporate business 1162.2 1096.2 762.0 982.4 1064.3 1205.5 1188.8 1195.4 1230.5 1207.5 1209.2 25

 26 Nonfinancial noncorporate business 283.7 267.2 203.4 201.3 219.3 231.6 238.7 232.1 222.7 233.1 266.0 26

 27 Financial business 187.5 195.0 164.4 154.8 172.9 191.6 187.6 188.6 190.2 200.0 204.5 27

 28 Households and institutions 661.9 529.2 419.4 398.8 398.4 433.5 417.2 425.7 436.7 454.5 471.4 28

 29 Gross government investment 456.5 497.2 506.9 505.5 480.2 472.3 467.6 473.4 474.5 473.7 456.5 29

 30 Federal 127.4 148.4 156.6 167.3 160.5 154.6 152.1 155.9 155.1 155.4 145.8 30

 31 State and local 329.0 348.8 350.3 338.2 319.7 317.7 315.5 317.5 319.5 318.3 310.8 31

 32 Capital account transactions (net) (2) -0.1 -5.4 0.6 0.7 1.7 -6.7 0.5 0.5 0.5 -28.3 0.5 32

 33 Private -10.0 -71.0 -141.8 -80.7 -70.4 -44.9 -43.6 -22.3 -26.2 -87.8 -28.1 33

 34 Domestic business -1.7 -51.2 -85.3 -30.6 -41.7 -13.8 -25.8 -8.7 -12.2 -8.4 -12.3 34

 35 Nonfinancial corporate business -1.7 12.6 42.6 18.6 -7.8 -16.0 -6.6 -8.3 -11.9 -37.2 -12.0 35

 36 Nonfinancial noncorporate business 0.0 -3.3 -6.0 -7.8 -1.6 -5.8 -0.3 -0.3 -0.3 -22.2 -0.3 36

 37 Financial business 0.0 -60.5 -121.9 -41.5 -32.4 8.0 -18.9 -0.1 0.0 51.0 0.0 37

 38 Households and institutions -8.3 -19.8 -56.6 -50.1 -28.7 -31.2 -17.8 -13.6 -14.0 -79.4 -15.7 38

 39 Government 10.0 65.6 142.4 81.4 72.1 38.2 44.0 22.7 26.6 59.4 28.5 39

 40 Federal 55.0 114.3 196.2 145.4 133.1 98.0 101.4 82.1 87.4 121.0 83.3 40

 41 State and local -45.1 -48.7 -53.8 -64.0 -61.0 -59.8 -57.4 -59.4 -60.8 -61.6 -54.8 41

 42 Net lending (+) or net borrowing (-), NIPAs (3) -715.9 -673.6 -382.7 -449.5 -467.5 -467.3 -553.6 -485.4 -434.2 -396.1 -473.9 42

 43 Private -307.8 263.7 1285.6 1201.5 1074.8 882.5 785.5 887.0 928.6 929.1 538.0 43

 44 Domestic business -182.2 -108.8 842.6 688.6 653.5 485.6 452.6 536.4 606.0 347.3 395.2 44

 45 Nonfinancial corporate business (3) -106.0 -9.5 500.4 415.4 441.5 344.6 291.3 386.1 417.3 283.6 267.4 45

 46 Nonfinancial noncorporate business -73.6 -52.6 13.6 16.4 -2.7 -3.4 -18.6 -10.1 0.9 14.1 -38.1 46

 47 Financial business -2.6 -46.7 328.6 256.8 214.7 144.4 179.9 160.4 187.9 49.6 165.9 47

 48 Households and institutions -125.7 372.6 443.0 512.9 421.3 396.9 332.9 350.5 322.6 581.8 142.9 48

 49 Government -408.1 -937.3 -1668.3 -1651.0 -1542.3 -1349.9 -1339.1 -1372.4 -1362.7 -1325.2 -1011.9 49

 50 Federal -315.0 -756.2 -1457.4 -1490.5 -1394.1 -1185.4 -1172.5 -1212.4 -1187.7 -1168.9 -866.5 50

 51 State and local -93.1 -181.1 -210.9 -160.5 -148.2 -164.5 -166.6 -160.0 -175.1 -156.2 -145.3 51

 52 Statistical discrepancy (line 21 less line 1) -12.0 -2.4 118.3 23.3 31.9 40.2 1.1 77.7 138.5 -56.6 -61.5 52

 Addenda:

 53 Disaster losses 0.0 19.1 0.0 0.0 0.0 44.9 0.0 0.0 0.0 179.8 0.0 53

 54 Private 0.0 19.1 0.0 0.0 0.0 35.8 0.0 0.0 0.0 143.4 0.0 54

 55 Domestic business 0.0 10.8 0.0 0.0 0.0 15.5 0.0 0.0 0.0 62.0 0.0 55

 56 Households and institutions 0.0 8.3 0.0 0.0 0.0 20.3 0.0 0.0 0.0 81.3 0.0 56

 57 Government 0.0 0.0 0.0 0.0 0.0 9.1 0.0 0.0 0.0 36.4 0.0 57

 58 Federal 0.0 0.0 0.0 0.0 0.0 0.3 0.0 0.0 0.0 1.3 0.0 58

 59 State and local 0.0 0.0 0.0 0.0 0.0 8.8 0.0 0.0 0.0 35.1 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

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Capital transfers paid, by sector 114.5 209.6 289.3 205.8 157.3 163.5 144.4 132.4 133.4 243.8 122.5 1

 2 By private business 0.0 7.6 40.4 25.8 0.0 13.4 0.0 0.0 0.0 53.7 0.0 2

 3 Financial corporations 0.0 7.6 0.0 0.0 0.0 13.4 0.0 0.0 0.0 53.7 0.0 3

 4 Disaster-related insurance benefits 0.0 7.6 0.0 0.0 0.0 13.4 0.0 0.0 0.0 53.7 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 0.0 40.4 25.8 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 82.8 161.8 223.9 160.2 142.8 117.7 120.8 104.9 107.0 137.8 99.4 8

 9 Federal 82.8 161.8 223.9 160.2 142.8 117.7 120.8 104.9 107.0 137.8 99.4 9

 10 Investment grants to state and local govts. 53.7 57.1 62.0 70.7 67.6 64.5 63.9 65.6 66.8 61.5 59.9 10

 11 Disaster-related insurance benefits 0.0 2.8 0.0 0.0 0.0 7.5 0.0 0.0 0.0 30.0 0.0 11

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

 13 Other capital transfers paid to business 0.0 0.1 8.1 12.3 7.3 7.4 5.3 6.7 8.2 9.3 8.7 13

 14 Other capital transfers paid to persons 28.7 33.3 31.3 35.0 33.9 33.1 32.3 32.1 31.5 36.6 30.3 14

 15 Capital transfers paid to the rest of the world (net) 0.4 0.8 0.6 0.7 1.6 0.5 0.5 0.5 0.5 0.4 0.5 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 31.7 34.0 25.0 19.8 14.5 25.2 23.6 27.5 26.3 23.5 23.1 18

 19 Estate and gift taxes, federal 26.5 28.3 20.6 15.1 9.6 20.4 18.9 22.6 21.5 18.4 17.7 19

 20 Estate and gift taxes, state and local 5.3 5.8 4.4 4.7 4.9 4.8 4.7 4.8 4.8 5.1 5.3 20

 21 By the rest of the world 0.0 6.2 0.0 0.0 0.0 7.2 0.0 0.0 0.0 28.8 0.0 21

 22 Disaster-related insurance benefits 0.0 6.2 0.0 0.0 0.0 7.2 0.0 0.0 0.0 28.8 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 114.5 209.6 289.3 205.8 157.3 163.5 144.4 132.4 133.4 243.8 122.5 24

 25 By private business 0.0 75.0 130.0 53.8 39.7 24.4 24.1 6.8 8.2 58.5 8.7 25

 26 Financial corporations 0.0 68.1 121.9 41.5 32.4 5.4 18.9 0.1 0.0 2.7 0.0 26

 27 Disaster-related insurance benefits 0.0 0.4 0.0 0.0 0.0 0.7 0.0 0.0 0.0 2.7 0.0 27

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

 29 Nonfinancial corporations 0.0 3.7 2.1 4.6 5.7 13.2 5.0 6.4 7.9 33.6 8.4 29

 30 Disaster-related insurance benefits 0.0 3.6 0.0 0.0 0.0 6.1 0.0 0.0 0.0 24.6 0.0 30

 31 Other 0.0 0.1 2.1 4.6 5.7 7.1 5.0 6.4 7.9 9.0 8.4 31

 32 Noncorporate business 0.0 3.3 6.0 7.8 1.6 5.8 0.3 0.3 0.3 22.2 0.3 32

 33 Disaster-related insurance benefits 0.0 3.3 0.0 0.0 0.0 5.5 0.0 0.0 0.0 21.9 0.0 33

 34 Other 0.0 0.0 6.0 7.8 1.6 0.3 0.3 0.3 0.3 0.3 0.3 34

 35 By government 85.4 91.1 87.1 90.7 82.1 91.1 87.5 93.0 93.2 90.6 83.0 35

 36 Federal 26.5 28.3 20.6 15.1 9.6 20.4 18.9 22.6 21.5 18.4 17.7 36

 37 Estate and gift taxes paid by persons 26.5 28.3 20.6 15.1 9.6 20.4 18.9 22.6 21.5 18.4 17.7 37

 38 State and local 58.9 62.8 66.5 75.6 72.5 70.7 68.5 70.4 71.6 72.2 65.2 38

 39 Disaster-related insurance benefits 0.0 0.0 0.0 0.0 0.0 1.4 0.0 0.0 0.0 5.7 0.0 39

 40 Estate and gift taxes paid by persons 5.3 5.8 4.4 4.7 4.9 4.8 4.7 4.8 4.8 5.1 5.3 40

 41 Investment grants paid by federal government 53.7 57.1 62.0 70.7 67.6 64.5 63.9 65.6 66.8 61.5 59.9 41

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

 43 By persons 28.7 42.6 71.7 60.7 33.9 47.5 32.3 32.1 31.5 94.2 30.3 43

 44 Disaster-related insurance benefits 0.0 9.3 0.0 0.0 0.0 14.4 0.0 0.0 0.0 57.6 0.0 44

 45 Other 28.7 33.3 71.7 60.7 33.9 33.1 32.3 32.1 31.5 36.6 30.3 45

 46 By the rest of the world 0.4 0.8 0.6 0.7 1.6 0.5 0.5 0.5 0.5 0.4 0.5 46

 47 Capital transfers paid by U.S. government 0.4 0.8 0.6 0.7 1.6 0.5 0.5 0.5 0.5 0.4 0.5 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) -0.0 -67.5 -89.6 -28.0 -39.7 -11.0 -24.1 -6.8 -8.2 -4.8 -8.7 49

 50 Financial corporations (lines 3-26) 0.0 -60.5 -121.9 -41.5 -32.4 8.0 -18.9 -0.1 0.0 51.0 0.0 50

 51 Property-casualty insurance companies (line 4) 0.0 7.6 0.0 0.0 0.0 13.4 0.0 0.0 0.0 53.7 0.0 51

 52 U.S.-chartered depository institutions 0.0 -29.7 -18.2 2.4 3.2 -0.7 0.0 0.0 0.0 -2.7 0.0 52

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

 54 Other (lines 5-27) 0.0 -0.4 0.0 0.0 0.0 -0.7 0.0 0.0 0.0 -2.7 0.0 54

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

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

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

 58 Nonfinancial corporations (lines 6-29) -0.0 -3.7 38.3 21.2 -5.7 -13.2 -5.0 -6.4 -7.9 -33.6 -8.4 58

 59 Noncorporate business (lines 7-32) 0.0 -3.3 -6.0 -7.8 -1.6 -5.8 -0.3 -0.3 -0.3 -22.2 -0.3 59

 60 By government (lines 8-35) -2.6 70.6 136.8 69.6 60.7 26.6 33.3 11.9 13.9 47.2 16.4 60

 61 Federal (lines 9-36) 56.3 133.5 203.3 145.2 133.2 97.3 101.9 82.3 85.5 119.4 81.7 61

 62 State and local (lines 16-38) -58.9 -62.8 -66.5 -75.6 -72.5 -70.7 -68.5 -70.4 -71.6 -72.2 -65.2 62

 63 By persons (lines 18-43) 3.0 -8.6 -46.6 -40.9 -19.4 -22.3 -8.7 -4.6 -5.2 -70.8 -7.3 63

 64 By the rest of the world (lines 21-46) -0.4 5.4 -0.6 -0.7 -1.6 6.7 -0.5 -0.5 -0.5 28.3 -0.5 64

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

(2) Sum of lines 53, 55, 56, and 57 equals the negative of line 12. Series treated as capital losses rather than as capital transfers in the Flow of Funds Accounts.
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F.10 Derivation of Measures of Personal Saving (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Net acquisition of financial assets 1803.7 586.2 195.6 689.3 966.8 1010.7 1177.5 1294.1 -184.4 1755.7 1114.3 1

 2 Foreign deposits 15.4 -23.7 -6.4 1.6 -1.9 -2.5 -7.5 -8.1 9.9 -4.5 10.6 2

 3 Checkable deposits and currency -6.8 248.7 49.0 37.6 323.1 147.2 127.8 -1.3 36.5 425.8 121.9 3

 4 Time and savings deposits 476.9 188.7 172.2 155.6 353.9 412.3 457.2 455.3 45.5 691.2 176.8 4

 5 Money market fund shares 242.0 236.2 -270.3 -180.4 11.5 1.3 -9.0 -5.8 -6.6 26.6 29.3 5

 6 Securities -177.7 -237.1 378.0 155.6 -189.2 179.1 375.0 697.5 -618.8 262.8 739.5 6

 7 Open market paper -10.2 -101.3 28.7 -2.9 -2.6 -0.5 3.0 -3.9 -0.6 -0.6 5.9 7

 8 U.S. savings bonds -6.0 -2.4 -2.8 -3.3 -2.7 -2.8 -1.5 -2.4 -2.2 -4.9 -2.7 8

 9 Treasury bills and other Treasury securities -72.0 246.3 496.8 420.7 -253.7 373.9 265.6 751.5 -134.0 612.6 -130.8 9

 10 Agency- and GSE-backed securities 308.8 276.6 -633.6 -44.7 12.6 -246.5 -268.1 -163.7 -279.1 -275.3 -287.8 10

 11 Municipal securities 37.5 47.5 107.3 44.8 -65.5 -151.2 -123.9 23.6 -243.3 -261.1 -16.7 11

 12 Corporate and foreign bonds 127.7 -81.1 58.7 -323.5 53.1 25.6 -53.9 -127.7 -47.2 331.4 215.3 12

 13 Corporate equities (2) -805.5 -576.8 -21.2 -170.8 -122.8 -321.3 -288.7 77.8 -636.7 -437.4 246.8 13

 14 Mutual fund shares 242.0 -45.8 344.1 235.3 192.5 501.8 842.6 142.3 724.3 298.0 709.6 14

 15 Life insurance reserves 18.0 61.7 23.7 9.0 86.9 -26.3 -46.6 -82.2 0.2 23.5 11.4 15

 16 Pension fund reserves 567.5 53.6 30.2 335.2 263.6 239.4 213.1 181.1 328.5 234.8 63.6 16

 17 Miscellaneous and other assets 668.4 57.9 -180.9 175.1 119.0 60.2 67.4 57.6 20.4 95.3 -38.9 17

 18 Gross investment in nonfinancial assets 2063.9 1826.4 1587.9 1599.8 1680.0 1800.4 1774.1 1776.4 1796.8 1854.1 1917.5 18

 19 Residential fixed investment 622.2 466.8 349.8 336.9 335.0 367.9 350.0 358.2 372.6 390.5 408.1 19

 20 Nonresidential fixed investment 345.3 330.4 281.9 265.5 285.2 310.5 306.5 311.5 308.3 315.7 315.3 20

 21 Consumer durables 1106.8 1041.3 975.1 1008.9 1071.6 1139.3 1125.9 1121.9 1139.3 1170.2 1190.4 21

 22 Nonproduced nonfinancial assets -11.3 -11.2 -9.9 -9.2 -9.3 -8.8 -9.1 -8.9 -8.8 -8.6 -8.4 22

 23 Inventories 0.9 -0.9 -8.9 -2.3 -2.5 -8.5 0.7 -6.3 -14.6 -13.7 12.2 23

 24 Consumption of fixed capital 1346.1 1412.4 1421.1 1420.6 1454.9 1477.4 1458.4 1471.7 1484.5 1495.1 1510.3 24

 25 Residential fixed investment 269.8 272.2 266.2 267.2 271.0 281.3 277.6 280.4 282.4 285.0 288.6 25

 26 Nonresidential fixed investment 202.2 233.7 237.5 237.6 245.7 249.9 246.8 248.3 251.1 253.5 257.4 26

 27 Consumer durables 874.0 906.5 917.4 915.8 938.1 946.2 934.0 943.0 951.0 956.6 964.2 27

 28 Net investment in nonfinancial assets (3) 717.8 414.0 166.8 179.3 225.2 322.9 315.7 304.7 312.3 359.0 407.2 28

 29 Residential fixed investment 352.4 194.7 83.7 69.7 64.0 86.5 72.4 77.9 90.2 105.6 119.5 29

 30 Nonresidential fixed investment 143.0 96.7 44.4 27.9 39.5 60.6 59.7 63.1 57.2 62.2 57.9 30

 31 Consumer durables 232.8 134.8 57.7 93.1 133.4 193.2 192.0 178.9 188.3 213.6 226.2 31

 32 Nonproduced nonfinancial assets -11.3 -11.2 -9.9 -9.2 -9.3 -8.8 -9.1 -8.9 -8.8 -8.6 -8.4 32

 33 Inventories 0.9 -0.9 -8.9 -2.3 -2.5 -8.5 0.7 -6.3 -14.6 -13.7 12.2 33

 34 Net increase in liabilities 1488.3 284.8 -265.1 -295.9 -176.9 179.4 78.8 158.5 -72.1 552.5 27.2 34

 35 Home mortgages 717.1 -108.9 -191.1 -347.2 -252.0 -240.5 -340.9 -215.7 -306.5 -99.0 -226.4 35

 36 Other mortgages 286.4 230.9 22.0 -43.9 -26.3 -17.1 -73.4 -27.7 -22.3 54.9 10.9 36

 37 Consumer credit 141.9 19.6 -111.5 -17.9 93.4 154.6 141.1 168.7 130.7 177.7 157.1 37

 38 Policy loans 3.6 5.9 0.7 3.4 2.4 1.4 -0.2 -1.0 2.5 4.1 -0.1 38

 39 Security credit 33.4 -160.7 38.1 75.2 -39.3 64.9 115.4 -93.1 98.7 138.4 9.9 39

 40 Other liabilities 305.8 298.0 -23.3 34.4 44.8 216.3 236.7 327.3 24.7 276.5 75.8 40

 41 Net capital transfers paid (4) 3.0 -11.9 -52.6 -48.7 -21.0 -28.1 -9.1 -5.0 -5.5 -92.9 -7.6 41

 42 Personal saving, FOF concept (FOF) 1036.3 703.5 575.0 1115.8 1347.9 1126.1 1405.4 1435.3 194.5 1469.2 1486.7 42

 43 - Net investment in consumer durables 232.8 134.8 57.7 93.1 133.4 193.2 192.0 178.9 188.3 213.6 226.2 43

 44 - Government insurance and pension fund reserves (5) 0.1 -0.6 0.5 -1.7 -0.4 -1.4 -2.7 -0.1 -1.3 -1.7 -2.2 44

 45 = Personal saving, NIPA concept (FOF) (6) 803.4 569.4 516.8 1024.4 1214.9 934.4 1216.1 1256.5 7.5 1257.3 1262.8 45

 46 Personal saving, NIPA concept (NIPA) 248.7 592.3 508.2 566.7 489.4 490.5 427.7 455.7 435.1 643.5 280.2 46

 47 Difference 554.6 -22.9 8.6 457.7 725.5 443.9 788.4 800.9 -427.6 613.8 982.6 47

 Memo:

 48 Disposable personal income 10423.6 11024.5 10722.4 11127.1 11549.3 11950.8 11776.4 11861.8 11929.7 12235.2 11998.1 48

 Personal saving as a percentage of disposable personal income:

 49 FOF concept (FOF data) (line 42) 9.9 6.4 5.4 10.0 11.7 9.4 11.9 12.1 1.6 12.0 12.4 49

 50 NIPA concept (FOF data) (line 45) 7.7 5.2 4.8 9.2 10.5 7.8 10.3 10.6 0.1 10.3 10.5 50

 51 NIPA concept (NIPA data) (line 46) 2.4 5.4 4.7 5.1 4.2 4.1 3.6 3.8 3.6 5.3 2.3 51

 52 Difference (line 47) 5.3 -0.2 0.1 4.1 6.3 3.7 6.7 6.8 -3.6 5.0 8.2 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

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 47176.4 39407.8 43448.3 46978.3 47390.3 51260.8 49772.6 49087.7 50345.4 51260.8 53317.1 1

 2 Foreign deposits 80.5 56.9 50.5 52.1 50.1 47.6 48.3 46.2 48.7 47.6 50.2 2

 3 Checkable deposits and currency 670.6 884.3 933.3 959.6 1282.8 1419.9 1270.4 1263.7 1259.2 1419.9 1412.5 3

 4 Time and savings deposits 6272.0 6460.7 6618.5 6740.2 7094.2 7461.3 7205.0 7265.4 7292.4 7461.3 7528.8 4

 5 Money market fund shares 1421.0 1657.2 1386.9 1206.5 1187.5 1188.8 1130.0 1102.2 1123.5 1188.8 1138.7 5

 6 Securities 20119.7 14388.3 17220.5 19327.1 18672.3 20987.6 20321.8 19800.9 20538.1 20987.6 22459.2 6

 7 Open market paper 107.3 6.0 34.6 31.7 29.1 28.6 29.8 28.9 28.7 28.6 30.0 7

 8 U.S. savings bonds 196.4 194.0 191.2 187.9 185.2 182.4 184.7 184.3 183.6 182.4 181.7 8

 9 Treasury bills and other Treasury securities 45.9 127.3 760.9 1125.4 679.2 1064.6 871.1 916.6 946.9 1064.6 1096.9 9

 10 Agency- and GSE-backed securities 874.3 1097.8 435.7 389.9 372.8 96.9 273.2 237.6 176.0 96.9 10.3 10

 11 Municipal securities 1679.3 1726.9 1834.2 1879.0 1813.4 1662.2 1787.0 1780.2 1714.8 1662.2 1663.5 11

 12 Corporate and foreign bonds 1899.3 1968.1 2314.9 2251.6 2273.3 2402.0 2244.4 2226.0 2331.1 2402.0 2454.6 12

 13 Corporate equities (2) 10448.0 5954.4 7518.3 8843.9 8866.3 10178.4 9892.2 9534.3 9960.5 10178.4 11242.8 13

 14 Mutual fund shares 4869.1 3313.9 4130.7 4617.8 4453.0 5372.4 5039.4 4893.1 5196.5 5372.4 5779.3 14

 15 Life insurance reserves 1076.8 1049.8 1109.2 1137.2 1203.6 1186.1 1199.4 1172.6 1180.6 1186.1 1202.4 15

 16 Pension fund reserves 13236.1 10567.7 11959.2 13209.9 13434.1 14444.1 14117.1 13943.1 14402.2 14444.1 15007.6 16

 17 Life insurance companies 2511.6 2223.2 2346.9 2563.0 2594.2 2830.9 2731.4 2681.9 2770.3 2830.9 2946.6 17

 18 Private pension funds 6142.4 4603.4 5479.2 6179.7 6338.9 6672.5 6613.3 6543.5 6756.6 6672.5 6857.2 18

 19 Governments 4582.1 3741.1 4133.1 4467.2 4501.0 4940.7 4772.5 4717.8 4875.4 4940.7 5203.9 19

 20 Miscellaneous and other assets 4299.6 4342.9 4170.3 4345.7 4465.7 4525.4 4480.4 4493.7 4500.6 4525.4 4517.7 20

 21 Total liabilities 19602.2 19892.2 19584.4 19290.5 19119.0 19225.1 19096.8 19125.8 19066.6 19225.1 19187.4 21

 22 Home mortgages 11165.2 11064.0 10872.9 10412.8 10160.8 9915.3 10074.9 10016.3 9926.8 9915.3 9858.6 22

 23 Other mortgages 2301.9 2529.9 2551.8 2506.8 2478.6 2458.7 2459.6 2452.0 2445.7 2458.7 2460.7 23

 24 Consumer credit 2506.3 2525.9 2420.2 2522.2 2615.7 2768.2 2605.9 2646.6 2705.5 2768.2 2762.4 24

 25 Policy loans 114.5 120.4 121.1 124.5 126.9 128.3 126.9 126.6 127.2 128.3 128.2 25

 26 Security credit 325.5 164.8 203.0 278.2 238.9 303.7 267.7 244.5 269.1 303.7 306.2 26

 27 Other liabilities 3188.9 3487.1 3415.5 3446.0 3498.2 3650.9 3561.9 3639.9 3592.1 3650.9 3671.2 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).
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F.100 Households and Nonprofit Organizations (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Personal income 11912.3 12460.2 11867.0 12321.9 12947.3 13431.1 13227.1 13327.0 13406.2 13764.3 13602.6 1

 2 - Personal current taxes 1488.7 1435.7 1144.6 1194.8 1398.0 1480.4 1450.8 1465.2 1476.5 1529.1 1604.4 2

 3 = Disposable personal income 10423.6 11024.5 10722.4 11127.1 11549.3 11950.8 11776.4 11861.8 11929.7 12235.2 11998.1 3

 4 - Personal outlays 10174.9 10432.2 10214.3 10560.4 11059.9 11460.3 11348.7 11406.1 11494.7 11591.7 11717.9 4

 5 = Personal saving, NIPA (2) 248.7 592.3 508.2 566.7 489.4 490.5 427.7 455.7 435.1 643.5 280.2 5

 6 + Government insurance and pension reserves (3) 0.1 -0.6 0.5 -1.7 -0.4 -1.4 -2.7 -0.1 -1.3 -1.7 -2.2 6

 7 + Net investment in consumer durables 232.8 134.8 57.7 93.1 133.4 193.2 192.0 178.9 188.3 213.6 226.2 7

 8 + Consumption of fixed capital 1161.8 1201.2 1210.1 1210.7 1239.8 1254.9 1238.6 1250.0 1261.2 1270.0 1282.6 8

 9 - Net capital transfers paid (4) 3.0 -8.6 -46.6 -40.9 -19.4 -22.3 -8.7 -4.6 -5.2 -70.8 -7.3 9

 10 = Gross saving less net capital transfers paid 1640.4 1936.2 1823.1 1909.7 1881.6 1959.5 1864.3 1889.0 1888.5 2196.2 1794.0 10

 11 Gross investment 2195.1 1913.3 1831.7 2367.4 2607.2 2403.4 2652.7 2689.9 1460.9 2810.0 2776.6 11

 12 Capital expenditures 1757.4 1559.3 1384.6 1398.5 1460.7 1564.0 1534.0 1538.6 1567.2 1616.1 1653.4 12

 13 Residential 541.7 397.2 295.5 288.9 286.4 314.7 298.2 306.2 319.2 335.2 350.8 13

 14 Consumer durable goods 1106.8 1041.3 975.1 1008.9 1071.6 1139.3 1125.9 1121.9 1139.3 1170.2 1190.4 14

 15 Nonprofit nonresidential 120.2 132.0 123.9 109.9 112.0 118.8 119.0 119.5 117.5 119.3 120.7 15

 16 Nonproduced nonfinancial assets -11.3 -11.2 -9.9 -9.2 -9.3 -8.8 -9.1 -8.9 -8.8 -8.6 -8.4 16

 17 Net lending (+) or net borrowing (-) 437.7 354.0 447.1 968.9 1146.5 839.4 1118.6 1151.3 -106.3 1193.9 1123.2 17

 18 Net acquisition of financial assets 1340.3 193.4 267.8 725.6 919.2 926.7 1121.6 1229.5 -238.4 1594.3 1053.6 18

 19 Foreign deposits 15.4 -23.7 -6.4 1.6 -1.9 -2.5 -7.5 -8.1 9.9 -4.5 10.6 19

 20 Checkable deposits and currency -73.7 245.0 28.6 55.7 316.6 140.6 123.9 -5.8 33.2 411.0 117.3 20

 21 Time and savings deposits 462.0 189.9 177.0 152.7 350.3 407.7 454.6 452.2 43.3 680.8 173.7 21

 22 Money market fund shares 239.9 235.1 -268.6 -183.5 10.7 0.3 -9.6 -6.5 -7.0 24.4 28.6 22

 23 Credit market instruments 379.5 407.0 45.6 76.8 -273.0 -18.0 -180.7 449.7 -719.4 378.6 -233.6 23

 24 Open market paper -10.2 -101.3 28.7 -2.9 -2.6 -0.5 3.0 -3.9 -0.6 -0.6 5.9 24

 25 Treasury securities -81.0 251.4 499.7 415.5 -256.9 370.5 263.7 748.7 -136.5 606.3 -133.9 25

 26 Savings bonds -6.0 -2.4 -2.8 -3.3 -2.7 -2.8 -1.5 -2.4 -2.2 -4.9 -2.7 26

 27 Other -75.0 253.8 502.5 418.7 -254.2 373.3 265.2 751.1 -134.3 611.2 -131.2 27

 28 Agency- and GSE-backed securities 308.8 276.6 -633.6 -44.7 12.6 -246.5 -268.1 -163.7 -279.1 -275.3 -287.8 28

 29 Municipal securities 38.0 47.9 107.1 44.3 -65.6 -151.2 -123.9 23.5 -243.4 -261.2 -16.8 29

 30 Corporate and foreign bonds 127.7 -81.1 58.7 -323.5 53.1 25.6 -53.9 -127.7 -47.2 331.4 215.3 30

 31 Other loans and advances (5) 8.5 12.2 -5.3 -0.6 -2.8 -2.5 12.6 -13.3 -0.5 -8.7 -4.0 31

 32 Mortgages -12.3 1.4 -9.7 -11.2 -10.8 -13.4 -14.1 -14.0 -12.2 -13.3 -12.3 32

 33 Corporate equities (6) -805.5 -576.8 -21.2 -170.8 -122.8 -321.3 -288.7 77.8 -636.7 -437.4 246.8 33

 34 Mutual fund shares 242.0 -45.8 344.1 235.3 192.5 501.8 842.6 142.3 724.3 298.0 709.6 34

 35 Security credit 210.8 -123.8 -74.1 25.7 58.1 23.6 39.6 61.5 10.1 -16.6 2.2 35

 36 Life insurance reserves 18.0 61.7 23.7 9.0 86.9 -26.3 -46.6 -82.2 0.2 23.5 11.4 36

 37 Pension fund reserves 567.5 53.6 30.2 335.2 263.6 239.4 213.1 181.1 328.5 234.8 63.6 37

 38 Equity in noncorporate business 18.4 -284.0 -32.3 143.6 -8.6 -30.3 0.6 -27.4 -34.9 -59.3 -41.1 38

 39 Miscellaneous assets 66.1 55.1 21.1 44.4 46.8 11.5 -19.7 -5.1 10.1 60.9 -35.4 39

 40 Net increase in liabilities 902.6 -160.6 -179.3 -243.2 -227.3 87.4 2.9 78.2 -132.1 400.4 -69.6 40

 41 Credit market instruments 853.5 -25.2 -228.6 -342.5 -201.6 20.4 -126.5 161.0 -232.5 279.5 -77.2 41

 42 Home mortgages (7) 683.1 -61.9 -149.6 -365.3 -229.0 -229.1 -323.5 -206.5 -293.0 -93.5 -212.4 42

 43 Consumer credit 141.9 19.6 -111.5 -17.9 93.4 154.6 141.1 168.7 130.7 177.7 157.1 43

 44 Municipal securities 21.1 9.3 5.9 -2.2 -7.8 -14.5 -6.5 -17.5 -15.4 -18.5 -6.5 44

 45 Depository institution loans n.e.c. (8) -9.1 4.6 33.0 52.4 -53.9 111.5 70.4 221.4 -50.5 204.9 -11.7 45

 46 Other loans and advances 3.2 6.2 0.5 2.4 1.9 1.2 -1.2 -0.6 2.6 4.2 0.5 46

 47 Commercial mortgages 13.3 -3.0 -6.9 -11.9 -6.2 -3.4 -6.7 -4.5 -6.9 4.6 -4.2 47

 48 Security credit 33.4 -160.7 38.1 75.2 -39.3 64.9 115.4 -93.1 98.7 138.4 9.9 48

 49 Trade payables 14.6 22.2 16.0 21.4 14.0 1.5 6.6 2.8 -0.0 -3.2 -6.4 49

 Deferred and unpaid

 50 life insurance premiums 1.0 3.2 -4.9 2.7 -0.4 0.6 7.5 7.4 1.7 -14.3 4.1 50

 51 Discrepancy -554.6 22.9 -8.6 -457.7 -725.5 -443.9 -788.4 -800.9 427.6 -613.8 -982.6 51

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

 outstandings of nonprofit organizations.

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

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

(4) Table F.9, line 63.

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

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

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

(8) Includes loans extended by the Federal Reserve to financial institutions such as domestic hedge funds through the Term Asset-Backed Securities Loan Facility (TALF), shown on table F.108, line 21.
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F.101 Nonfinancial Business (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Income before taxes 2208.0 2030.6 1792.6 2206.9 2290.1 2591.9 2561.5 2563.8 2606.5 2635.7 2668.4 1

 2 Gross saving less net capital transfers paid 1252.4 1318.7 1364.9 1588.9 1688.2 1726.1 1685.1 1746.7 1718.5 1753.9 1722.9 2

 3 Gross investment 1125.1 384.0 1545.4 1320.5 1337.7 1569.4 1634.9 1595.9 1591.2 1455.5 1738.6 3

 4 Capital expenditures 1453.4 1379.6 969.9 1176.5 1275.3 1429.1 1420.9 1419.1 1444.1 1432.1 1466.6 4

 5 Fixed investment 1426.0 1404.4 1119.7 1120.7 1240.8 1373.8 1350.0 1366.3 1365.9 1413.0 1421.9 5

 6 Residential 96.2 75.1 58.8 47.0 46.1 62.9 61.2 60.2 63.6 66.8 69.8 6

 7 Nonresidential 1329.8 1329.3 1060.9 1073.7 1194.7 1310.8 1288.9 1306.1 1302.3 1346.1 1352.1 7

 8 Change in inventories 29.1 -41.1 -154.2 58.4 36.6 58.1 72.6 54.8 82.3 22.7 48.3 8

 9 Nonproduced nonfinancial assets -1.7 16.3 4.4 -2.6 -2.1 -2.8 -1.6 -1.9 -4.0 -3.6 -3.6 9

 10 Net lending (+) or net borrowing (-) -328.3 -995.6 575.6 144.0 62.4 140.3 213.9 176.8 147.1 23.4 272.0 10

 11 Net acquisition of financial assets 1554.3 -506.7 206.5 721.0 560.1 892.2 749.7 831.7 1057.1 930.1 918.4 11

 12 Foreign deposits 0.9 -25.5 6.8 9.1 -5.8 -21.7 -50.8 -45.7 -1.7 11.6 -6.6 12

 13 Checkable deposits and currency 59.3 -125.2 162.7 57.0 43.7 50.4 16.0 103.0 145.3 -62.7 219.3 13

 14 Time and savings deposits -40.7 -60.7 102.1 62.8 17.9 33.0 66.8 -16.4 79.4 2.1 17.5 14

 15 Money market fund shares 129.4 179.6 -73.1 -154.6 -34.6 -3.1 -68.4 -46.1 28.4 73.6 -38.6 15

 16 Security RPs -7.5 -0.9 0.7 4.3 0.5 -2.3 4.0 1.2 -10.4 -3.8 10.5 16

 17 Credit market instruments -65.9 -45.5 3.3 9.3 -4.3 22.7 39.0 31.1 61.2 -40.3 -39.0 17

 18 Commercial paper -53.2 -12.2 -1.3 12.0 0.1 -6.3 -19.3 -25.0 24.6 -5.4 6.3 18

 19 Treasury securities -4.1 -15.4 6.8 7.0 -4.3 15.6 19.4 45.1 18.1 -20.3 -6.3 19

 20 Agency- and GSE-backed securities -2.4 -2.6 4.2 1.7 -1.6 -0.0 6.4 4.9 5.9 -17.2 -22.2 20

 21 Municipal securities 0.6 -3.4 1.1 -2.6 -1.4 12.7 13.3 -3.6 17.8 23.5 -18.9 21

 22 Mortgages -11.0 -10.7 -5.3 2.6 0.7 0.7 0.5 0.5 0.5 1.4 0.6 22

 23 Consumer credit 4.3 -1.2 -2.2 -11.4 2.3 0.0 18.7 9.2 -5.6 -22.3 1.6 23

 24 Mutual fund shares -4.9 -16.5 35.3 11.1 -12.8 0.3 0.7 0.7 0.7 -1.0 -1.0 24

 25 Trade receivables 214.6 -172.5 -57.4 142.8 87.5 116.7 219.5 102.3 127.8 17.3 -9.3 25

 26 Miscellaneous assets 1269.2 -239.5 26.0 579.1 468.0 696.1 522.9 701.4 626.4 933.5 765.6 26

 27 Net increase in liabilities 1882.7 488.9 -369.1 576.9 497.7 751.9 535.8 654.9 910.0 906.7 646.4 27

 28 Credit market instruments 1316.7 689.3 -270.5 165.0 539.0 717.4 521.4 587.1 604.3 1156.7 674.9 28

 29 Commercial paper 11.3 7.7 -73.1 24.5 33.4 14.2 -7.8 29.2 -35.3 70.6 20.0 29

 30 Municipal securities 68.4 66.0 37.2 33.2 8.5 15.2 10.9 35.2 11.0 3.8 9.3 30

 31 Corporate bonds 323.0 225.4 411.7 438.6 410.8 579.6 523.2 426.0 587.1 782.0 570.2 31

 32 Depository institution loans n.e.c. 237.1 183.7 -336.0 -103.8 125.6 166.1 216.4 175.0 105.9 167.0 79.0 32

 33 Other loans and advances 301.2 80.2 -166.1 -85.7 60.1 -20.8 -110.5 -16.1 -15.9 59.4 50.2 33

 34 Mortgages 375.8 126.2 -144.1 -141.8 -99.4 -36.9 -110.8 -62.2 -48.5 73.9 -53.7 34

 35 Corporate equities -786.8 -336.0 -64.6 -278.0 -472.5 -400.7 -291.8 -508.2 -397.1 -405.8 -259.5 35

 36 Trade payables 111.1 -219.4 -77.6 184.1 21.5 131.7 163.7 153.3 150.2 59.8 100.4 36

 37 Taxes payable -45.8 9.8 -9.5 6.4 9.9 5.4 -8.7 21.6 -16.1 24.8 17.0 37

 38 Miscellaneous liabilities 1271.5 640.7 81.6 356.1 406.3 334.7 179.6 434.0 599.8 125.6 141.6 38

 39 Proprietors’ net investment 16.0 -295.5 -28.6 143.2 -6.6 -36.7 -28.5 -32.9 -31.0 -54.4 -28.1 39

 40 Discrepancy 127.3 934.8 -180.5 268.4 350.4 156.7 50.2 150.8 127.3 298.5 -15.8 40

(1) Combined statement for nonfinancial corporate business and nonfinancial noncorporate business.
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F.102 Nonfinancial Corporate Business

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Profits before tax (book) 1042.0 831.2 712.9 990.5 1007.0 1247.5 1240.4 1229.8 1256.5 1263.2 1249.3 1

 2 - Taxes on corporate income 293.8 227.4 177.8 222.9 246.8 307.6 304.3 304.6 307.9 313.6 311.5 2

 3 - Net dividends 484.6 474.1 351.7 385.7 425.3 467.5 432.8 454.9 455.7 526.6 483.0 3

 4 + Capital consumption allowance (1) 681.8 831.6 805.5 823.3 954.9 783.7 770.9 779.0 787.7 797.0 821.1 4

 5 = U.S. internal funds, book 945.4 961.2 988.9 1205.1 1289.8 1256.0 1274.2 1249.4 1280.6 1219.9 1275.9 5

 6 + Foreign earnings retained abroad 169.8 183.7 194.2 226.0 238.6 239.5 209.5 252.9 233.2 262.4 226.7 6

 7 + Inventory valuation adjustment (IVA) -47.2 -44.5 3.2 -38.7 -62.6 -10.9 -23.7 16.0 -26.8 -9.2 -16.1 7

 8 - Net capital transfers paid (2) -0.0 -3.7 38.3 21.2 -5.7 -13.2 -5.0 -6.4 -7.9 -33.6 -8.4 8

 9 = Total internal funds + IVA 1068.1 1104.2 1148.0 1371.2 1471.6 1497.8 1465.0 1524.7 1494.8 1506.7 1494.8 9

 10 Gross investment 940.8 169.5 1328.5 1102.8 1121.1 1341.1 1414.8 1373.9 1367.5 1208.2 1510.6 10

 11 Capital expenditures 1146.9 1112.4 766.5 975.2 1056.0 1192.7 1180.9 1181.4 1214.5 1194.1 1202.5 11

 12 Fixed investment (3) 1120.4 1136.4 907.4 917.1 1018.9 1128.9 1110.7 1122.3 1121.6 1161.3 1169.9 12

 13 Inventory change + IVA 28.2 -40.2 -145.3 60.7 39.1 66.5 71.9 61.0 96.9 36.4 36.2 13

 14 Nonproduced nonfinancial assets -1.7 16.3 4.4 -2.6 -2.1 -2.8 -1.6 -1.9 -4.0 -3.6 -3.6 14

 15 Net lending (+) or net borrowing (-) -206.1 -943.0 562.0 127.7 65.1 148.4 233.9 192.5 153.1 14.1 308.1 15

 16 Net acquisition of financial assets 1074.9 -604.0 307.3 614.0 519.0 844.9 722.2 800.0 1034.0 823.2 885.8 16

 17 Foreign deposits 0.9 -25.5 6.8 9.1 -5.8 -21.7 -50.8 -45.7 -1.7 11.6 -6.6 17

 18 Checkable deposits and currency -7.6 -129.0 142.3 75.1 37.3 43.8 12.1 98.5 142.0 -77.5 214.7 18

 19 Time and savings deposits -55.7 -59.4 106.9 59.9 14.3 28.4 64.2 -19.4 77.2 -8.3 14.4 19

 20 Money market fund shares 127.2 178.5 -71.4 -157.7 -35.4 -4.1 -68.9 -46.7 27.9 71.3 -39.2 20

 21 Security RPs -7.5 -0.9 0.7 4.3 0.5 -2.3 4.0 1.2 -10.4 -3.8 10.5 21

 22 Credit market instruments -75.9 -34.6 10.0 2.6 -5.3 21.5 38.3 30.3 60.6 -43.1 -39.8 22

 23 Commercial paper -53.2 -12.2 -1.3 12.0 0.1 -6.3 -19.3 -25.0 24.6 -5.4 6.3 23

 24 Treasury securities -7.1 -7.9 12.5 5.1 -4.8 15.0 19.1 44.7 17.8 -21.7 -6.7 24

 25 Agency- and GSE-backed securities -2.4 -2.6 4.2 1.7 -1.6 -0.0 6.4 4.9 5.9 -17.2 -22.2 25

 26 Municipal securities 1.1 -3.0 0.9 -3.2 -1.4 12.6 13.2 -3.7 17.7 23.3 -18.9 26

 27 Mortgages -18.4 -7.7 -4.1 -1.6 0.2 0.2 0.2 0.2 0.2 0.2 0.2 27

 28 Consumer credit 4.3 -1.2 -2.2 -11.4 2.3 0.0 18.7 9.2 -5.6 -22.3 1.6 28

 29 Mutual fund shares -4.9 -16.5 35.3 11.1 -12.8 0.3 0.7 0.7 0.7 -1.0 -1.0 29

 30 Trade receivables 159.8 -169.5 -31.1 105.7 82.2 109.9 215.5 97.8 124.5 1.7 -14.0 30

 31 Miscellaneous assets 938.5 -347.0 107.7 503.9 444.3 669.0 507.2 683.3 613.2 872.4 746.9 31

 32 U.S. direct investment abroad (4) 307.0 262.6 257.2 324.8 396.5 332.6 424.6 217.4 347.2 341.0 361.4 32

 33 Insurance receivables 8.3 10.9 -0.9 3.0 15.7 3.3 -9.3 3.6 1.5 17.4 -12.2 33

 34 Equity in GSEs 0.1 -0.1 0.0 0.1 -0.0 0.9 0.5 0.7 1.1 1.3 1.7 34

 35 Investment in finance co. subs. -54.8 -1.1 -9.3 22.3 8.5 -0.4 -11.3 -10.4 -1.0 21.2 -4.2 35

 36 Other 677.8 -619.5 -139.4 153.7 23.6 332.7 102.7 472.0 264.5 491.6 400.3 36

 37 Net increase in liabilities 1281.0 339.0 -254.7 486.4 453.9 696.5 488.4 607.5 881.0 809.1 577.6 37

 38 Net funds raised in markets 68.3 34.5 -215.1 -83.4 52.6 246.1 200.0 8.6 162.2 613.7 404.9 38

 39 Net new equity issues -786.8 -336.0 -64.6 -278.0 -472.5 -400.7 -291.8 -508.2 -397.1 -405.8 -259.5 39

 40 Credit market instruments 855.1 370.5 -150.5 194.6 525.1 646.9 491.8 516.8 559.3 1019.5 664.4 40

 41 Commercial paper 11.3 7.7 -73.1 24.5 33.4 14.2 -7.8 29.2 -35.3 70.6 20.0 41

 42 Municipal securities (5) 68.4 66.0 37.2 33.2 8.5 15.2 10.9 35.2 11.0 3.8 9.3 42

 43 Corporate bonds (4) 323.0 225.4 411.7 438.6 410.8 579.6 523.2 426.0 587.1 782.0 570.2 43

 44 Depository institution loans n.e.c. 96.3 64.2 -234.1 -83.4 69.1 72.6 99.0 86.3 36.6 68.7 41.2 44

 45 Other loans and advances (6) 287.5 67.9 -160.8 -90.4 59.7 -23.0 -106.7 -30.1 -20.3 65.2 78.6 45

 46 Mortgages 68.6 -60.8 -131.5 -127.9 -56.4 -11.7 -26.8 -29.7 -19.6 29.2 -54.8 46

 47 Trade payables 85.1 -225.2 -85.3 155.7 18.7 117.7 154.9 149.5 139.8 26.7 60.9 47

 48 Taxes payable -49.6 3.1 -3.3 7.2 8.8 4.0 -9.5 20.7 -16.8 21.6 16.0 48

 49 Miscellaneous liabilities 1177.2 526.5 48.9 406.9 373.8 328.6 142.9 428.7 595.7 147.1 95.8 49

 50 Foreign direct investment in U.S. 211.6 189.5 104.7 156.9 206.8 161.5 112.1 169.1 150.2 214.8 213.9 50

 51 Pension fund contributions payable 44.8 -25.5 -8.4 15.4 -0.9 -4.3 -12.9 3.3 -1.4 -6.3 -23.9 51

 52 Other 920.9 362.5 -47.4 234.6 168.0 171.4 43.7 256.3 447.0 -61.4 -94.1 52

 53 Discrepancy 127.3 934.8 -180.5 268.4 350.4 156.7 50.2 150.8 127.3 298.5 -15.8 53

 Memo:

 54 Financing gap (7) 248.7 195.7 -225.5 -191.3 -171.2 -52.4 -69.7 -84.1 -39.3 -16.6 -57.3 54

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

(2) Table F.9, line 58.

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

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

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

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

(7) Capital expenditures (line 11) less the sum of U.S. internal funds (line 5) and inventory valuation adjustment (line 7).
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F.103 Nonfinancial Noncorporate Business

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving = consumption of fixed capital 184.3 211.3 211.0 209.9 215.0 222.5 219.8 221.7 223.4 225.1 227.7 1

 2 Gross saving less net capital transfers paid (1) 184.3 214.5 217.0 217.7 216.6 228.3 220.1 222.0 223.7 247.3 228.0 2

 3 Gross investment 184.3 214.5 217.0 217.7 216.6 228.3 220.1 222.0 223.7 247.3 228.0 3

 4 Capital expenditures 306.5 267.2 203.4 201.3 219.3 236.4 240.0 237.8 229.7 238.0 264.2 4

 5 Fixed investment (2) 305.6 268.0 212.3 203.6 221.8 244.8 239.3 244.0 244.3 251.7 252.0 5

 6 Change in inventories 0.9 -0.9 -8.9 -2.3 -2.5 -8.5 0.7 -6.3 -14.6 -13.7 12.2 6

 7 Net lending (+) or net borrowing (-) -122.2 -52.6 13.6 16.4 -2.7 -8.1 -19.9 -15.7 -6.0 9.3 -36.1 7

 8 Net acquisition of financial assets 479.4 97.3 -100.8 106.9 41.0 47.3 27.5 31.7 23.0 106.9 32.6 8

 9 Checkable deposits and currency 66.9 3.8 20.4 -18.0 6.5 6.6 3.9 4.5 3.3 14.8 4.6 9

 10 Time and savings deposits 14.9 -1.2 -4.8 2.9 3.6 4.6 2.6 3.0 2.2 10.4 3.1 10

 11 Money market mutual funds 2.2 1.0 -1.7 3.1 0.8 1.0 0.6 0.7 0.5 2.2 0.7 11

 12 Credit market instruments 10.0 -10.9 -6.7 6.6 1.0 1.2 0.7 0.8 0.6 2.8 0.8 12

 13 Treasury securities 3.0 -7.5 -5.7 1.9 0.5 0.6 0.4 0.4 0.3 1.4 0.4 13

 14 Municipal securities -0.5 -0.4 0.2 0.5 0.1 0.1 0.0 0.0 0.0 0.2 0.0 14

 15 Mortgages 7.4 -3.0 -1.2 4.2 0.5 0.5 0.3 0.4 0.3 1.2 0.4 15

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

 17 Trade receivables 54.7 -3.0 -26.3 37.0 5.4 6.8 3.9 4.5 3.3 15.6 4.7 17

 18 Miscellaneous assets 330.8 107.5 -81.7 75.3 23.7 27.0 15.7 18.1 13.2 61.0 18.6 18

 19 Insurance receivables 3.7 3.4 0.9 0.1 6.3 1.9 -3.3 3.1 1.7 5.9 -2.0 19

 20 Equity investment in GSEs (3) 0.7 1.2 -0.0 0.4 0.3 -0.7 0.3 -1.3 -0.7 -1.1 -1.6 20

 21 Other 326.4 102.9 -82.7 74.7 17.1 25.9 18.8 16.3 12.1 56.2 22.2 21

 22 Net increase in liabilities 601.6 149.9 -114.4 90.5 43.7 55.4 47.4 47.4 29.0 97.6 68.7 22

 23 Credit market instruments 461.6 318.8 -120.0 -29.6 13.9 70.5 29.6 70.3 45.0 137.3 10.6 23

 24 Depository institution loans n.e.c. 140.8 119.6 -102.0 -20.4 56.5 93.5 117.4 88.8 69.3 98.3 37.8 24

 25 Other loans and advances 13.7 12.3 -5.3 4.7 0.4 2.2 -3.8 13.9 4.5 -5.8 -28.4 25

 26 Mortgages 307.1 186.9 -12.7 -13.9 -43.0 -25.1 -84.0 -32.5 -28.8 44.8 1.1 26

 27 Trade payables 26.0 5.7 7.7 28.4 2.8 14.0 8.8 3.9 10.4 33.1 39.5 27

 28 Taxes payable 3.8 6.7 -6.3 -0.7 1.1 1.4 0.8 0.9 0.7 3.2 1.0 28

 29 Miscellaneous liabilities 94.2 114.1 32.7 -50.8 32.5 6.1 36.7 5.3 4.0 -21.5 45.8 29

 30 Proprietors’ net investment 16.0 -295.5 -28.6 143.2 -6.6 -36.7 -28.5 -32.9 -31.0 -54.4 -28.1 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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F.104 State and Local Governments (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Current receipts, NIPA basis 1923.1 1944.8 1961.4 2042.4 2064.4 2069.5 2050.4 2066.7 2069.2 2091.9 2104.1 1

 2 Personal current taxes 323.1 334.4 287.6 300.6 322.8 335.8 325.9 334.2 335.0 348.0 359.9 2

 3 Taxes on production and imports 932.7 944.6 931.8 959.5 990.4 1014.0 1015.2 1015.7 1012.3 1012.8 1026.2 3

 4 Taxes on corporate income 57.8 47.4 45.5 44.5 47.6 48.2 50.1 46.2 48.4 48.1 48.9 4

 5 Contributions for govt. social insurance 18.9 19.0 19.0 18.4 18.3 17.5 17.8 17.5 17.3 17.2 17.2 5

 6 Income receipts on assets 114.5 106.8 95.0 88.8 86.4 85.4 85.7 85.8 85.0 85.3 85.2 6

 7 Current transfer receipts 485.1 505.0 593.6 643.2 612.7 584.9 571.1 583.4 587.8 597.5 583.8 7

 8 Current surplus of government enterprises -9.1 -12.3 -11.1 -12.5 -13.8 -16.3 -15.4 -16.1 -16.7 -17.0 -17.2 8

 9 Current expenditures, NIPA basis 1910.8 2017.0 2074.6 2132.1 2166.3 2198.5 2178.1 2190.3 2209.2 2216.4 2220.3 9

 10 Consumption expenditures 1368.9 1449.2 1473.3 1496.2 1518.0 1530.8 1531.4 1525.5 1532.4 1534.0 1535.6 10

 11 Govt. social benefit payments to persons 433.7 456.7 495.1 528.3 538.5 554.2 534.4 551.6 563.7 567.2 568.2 11

 12 Interest payments 101.1 108.1 104.8 106.0 109.2 113.0 111.9 112.8 112.6 114.8 116.0 12

 13 Subsidies 7.1 3.0 1.4 1.6 0.5 0.5 0.5 0.5 0.5 0.5 0.5 13

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

 15 Net saving, NIPA basis 12.2 -72.2 -113.2 -89.7 -102.0 -129.0 -127.6 -123.7 -140.0 -124.5 -116.2 15

 16 + Consumption of fixed capital 178.7 191.2 198.8 203.3 212.4 222.4 219.2 221.7 223.6 225.1 226.8 16

 17 - Net capital transfers paid (2) -58.9 -62.8 -66.5 -75.6 -72.5 -70.7 -68.5 -70.4 -71.6 -72.2 -65.2 17

 18 = Gross saving less net capital transfers paid 249.8 181.8 152.0 189.2 182.9 164.2 160.1 168.5 155.3 172.8 175.9 18

 19 Gross investment 271.0 201.2 174.9 223.7 202.9 182.1 180.1 188.4 171.2 188.8 191.9 19

 20 Fixed investment 329.0 348.8 350.3 338.2 319.7 317.7 315.5 317.5 319.5 318.3 310.8 20

 21 Nonproduced nonfinancial assets 13.8 14.1 12.7 11.5 11.5 10.9 11.2 11.0 10.8 10.6 10.4 21

 22 Net lending (+) or net borrowing (-) -71.8 -161.7 -188.1 -126.0 -128.3 -146.5 -146.7 -140.1 -159.1 -140.2 -129.3 22

 23 Net acq. of financial assets 111.9 -104.6 -35.4 -16.5 -140.8 -111.4 -107.3 -6.8 -121.4 -209.9 -33.9 23

 24 Checkable deposits and currency -0.2 8.5 19.2 5.6 16.7 -8.7 -8.8 -8.0 -6.6 -11.6 12.8 24

 25 Time and savings deposits 33.3 18.8 9.3 -6.9 15.3 22.0 3.0 34.9 42.7 7.3 6.3 25

 26 Money market fund shares 17.3 -3.3 8.9 7.9 -3.3 -7.0 -3.9 -4.5 -6.3 -13.3 1.3 26

 27 Security RPs 6.4 -15.7 -3.8 -5.1 -8.3 -5.5 -3.1 -3.6 -5.0 -10.5 1.1 27

 28 Credit market instruments 97.4 -204.3 -74.8 35.4 -90.6 -52.0 -67.1 -4.2 -28.3 -108.5 10.8 28

 29 Open market paper -15.8 -81.9 -73.2 60.2 23.9 -6.0 -3.4 -3.9 -5.4 -11.3 1.1 29

 30 Treasury securities 36.4 -61.5 21.0 -7.9 -53.4 -7.9 -10.9 25.8 -6.4 -40.2 -18.1 30

 31 Agency- and GSE-backed securities 43.9 -36.1 -31.1 -15.3 -47.0 -22.9 -43.1 -15.1 -5.0 -28.3 20.5 31

 32 Municipal securities 1.6 -0.1 0.9 0.8 -0.2 -0.6 -0.3 -0.4 -0.5 -1.1 0.1 32

 33 Corporate and foreign bonds 14.2 -11.4 3.0 1.7 -6.9 -7.5 -4.2 -4.8 -6.7 -14.2 1.4 33

 34 Mortgages 17.3 -13.3 4.5 -4.1 -6.8 -7.2 -5.2 -5.9 -4.2 -13.4 5.8 34

 35 Corporate equities -1.9 7.6 10.4 -15.5 -6.6 -14.1 -37.9 7.8 -19.6 -6.4 -28.0 35

 36 Mutual fund shares 1.2 15.6 -7.9 -4.9 -2.0 -7.2 -19.5 4.0 -10.1 -3.3 9.6 36

 37 Trade receivables -12.5 -22.3 -18.6 -19.3 -9.7 0.0 0.0 0.0 0.0 0.0 0.0 37

 38 Taxes receivable 2.7 2.2 -6.7 -2.2 6.9 9.9 12.4 5.4 10.2 11.6 11.2 38

 39 Miscellaneous assets -31.9 88.3 28.7 -11.4 -59.2 -48.7 17.8 -38.6 -98.6 -75.3 -59.0 39

 40 Net increase in liabilities 183.7 57.1 152.7 109.6 -12.5 35.2 39.4 133.3 37.7 -69.7 95.5 40

 41 Credit market instruments 146.7 17.9 113.0 69.5 -52.7 -5.3 -1.0 93.0 -2.8 -110.2 55.2 41

 42 Municipal securities 146.0 17.1 112.2 68.7 -53.6 -5.7 -1.6 92.0 -2.4 -110.7 53.9 42

 43 Short-term (3) 16.8 4.6 7.8 -0.7 -10.6 3.8 -3.4 36.3 15.2 -32.9 -9.4 43

 44 Long-term 129.2 12.5 104.4 69.3 -42.9 -9.4 1.9 55.7 -17.6 -77.8 63.3 44

 45 U.S. government loans 0.7 0.8 0.8 0.9 0.9 0.4 0.5 1.1 -0.4 0.5 1.3 45

 46 Trade payables 37.0 39.2 39.6 40.0 40.2 40.4 40.4 40.3 40.5 40.5 40.3 46

 47 Discrepancy -21.2 -19.4 -22.8 -34.5 -20.0 -18.0 -19.9 -19.9 -15.9 -16.0 -16.0 47

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

(2) Table F.9, line 62.

(3) Debt with original maturity of 13 months or less.
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Z.1, June 6, 2013 23

F.105 Federal Government

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Current receipts, NIPA basis 2654.7 2502.2 2226.5 2395.4 2519.6 2683.4 2664.9 2659.5 2673.4 2735.8 2947.5 1

 2 Personal current taxes 1165.6 1101.3 857.0 894.2 1075.2 1144.6 1124.9 1131.0 1141.4 1181.1 1244.5 2

 3 Taxes on production and imports 94.5 94.0 91.4 95.5 107.4 116.0 113.3 115.2 116.1 119.4 118.7 3

 4 Taxes on corporate income 362.8 233.7 200.4 305.1 304.2 372.3 375.7 368.1 375.5 369.7 356.7 4

 5 Taxes from the rest of the world 14.7 18.8 14.8 15.1 15.9 17.3 15.4 16.9 17.1 19.9 19.1 5

 6 Contributions for govt. social insurance 945.3 973.1 949.1 969.8 905.5 938.6 929.3 931.5 936.0 957.6 1089.2 6

 7 Income receipts on assets 29.8 30.7 48.1 53.0 55.3 53.3 54.7 53.2 53.0 52.4 72.9 7

 8 Current transfer receipts 44.8 54.4 70.2 69.8 68.8 59.1 68.3 61.6 53.1 53.2 69.0 8

 9 Current surplus of government enterprises -2.7 -3.7 -4.5 -7.0 -12.7 -17.8 -16.7 -18.0 -18.8 -17.4 -22.6 9

 10 Current expenditures, NIPA basis 2900.0 3115.7 3455.8 3703.4 3757.0 3757.7 3723.6 3774.8 3760.6 3771.6 3729.8 10

 11 Consumption expenditures 848.9 931.7 987.0 1055.8 1061.5 1059.6 1055.6 1054.8 1086.3 1041.9 1031.5 11

 12 Government social benefits 1267.5 1401.2 1621.4 1725.1 1752.9 1792.8 1786.0 1785.6 1796.2 1803.3 1833.3 12

 13 Other current transfer payments 423.0 440.7 536.1 585.8 556.5 526.4 515.0 525.2 529.9 535.4 524.2 13

 14 Interest payments 313.2 292.1 253.1 281.4 325.0 318.5 306.7 348.7 288.1 330.6 280.3 14

 15 Subsidies 47.4 49.9 58.3 55.4 61.1 60.4 60.4 60.6 60.1 60.4 60.5 15

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

 17 Net saving, NIPA basis -245.2 -613.5 -1229.3 -1308.0 -1237.4 -1074.3 -1058.7 -1115.4 -1087.2 -1035.8 -782.3 17

 18 + Consumption of fixed capital 112.6 120.0 124.8 130.2 137.0 141.5 139.7 141.0 142.0 143.3 144.9 18

 19 - Insurance and pension reserves (1) 0.1 -0.6 0.5 -1.7 -0.4 -1.4 -2.7 -0.1 -1.3 -1.7 -2.2 19

 20 - Contr. for govt. soc. insur., U.S.-affiliated areas 4.7 4.8 5.0 4.9 4.4 4.6 4.6 4.6 4.6 4.7 5.3 20

 21 - Net capital transfers paid (2) 56.3 65.8 81.4 103.7 100.8 92.5 83.0 82.2 85.5 119.4 81.7 21

 22 = Gross saving less net capital transfers paid -193.8 -563.5 -1191.4 -1284.6 -1205.2 -1028.5 -1003.9 -1061.0 -1034.0 -1015.0 -722.3 22

 23 Gross investment -217.8 -650.3 -1146.8 -1222.4 -1186.2 -915.4 -1378.4 -898.9 -482.7 -901.7 -1060.2 23

 24 Fixed investment 127.4 148.4 156.6 167.3 160.5 154.6 152.1 155.9 155.1 155.4 145.8 24

 25 Nonproduced nonfinancial assets -1.3 -19.2 -7.1 0.2 -0.1 0.7 -0.5 -0.2 1.9 1.6 1.7 25

 26 Net lending (+) or net borrowing (-) -344.0 -779.5 -1296.3 -1390.0 -1346.6 -1070.8 -1530.0 -1054.7 -639.7 -1058.6 -1207.6 26

 27 Net acq. of financial assets -0.5 571.9 224.2 287.6 -165.7 124.4 -49.2 229.0 135.3 182.7 158.2 27

 28 U.S. official reserve assets -0.4 4.2 51.9 1.6 16.2 4.3 4.6 13.0 3.1 -3.7 -3.0 28

 29 Checkable deposits and currency 25.1 313.1 -174.2 148.9 -257.6 6.7 -121.6 96.5 -27.4 79.2 -8.1 29

 30 Time and savings deposits 1.2 -1.3 0.3 0.1 -0.3 0.2 0.5 1.4 -1.0 -0.2 -1.7 30

 31 Credit market instruments 5.9 85.2 295.4 85.0 -0.7 82.3 33.8 103.4 126.2 65.7 140.3 31

 32 Agency- and GSE-backed securities 0.0 54.4 142.0 -47.2 -118.1 -31.1 -118.5 -5.8 0.0 0.0 0.0 32

 33 Corporate and foreign bonds 0.0 0.0 0.6 0.3 -0.1 -0.2 -0.1 -0.0 -0.4 -0.1 -0.2 33

 34 Other loans and advances -2.2 6.0 66.0 3.5 4.8 2.5 12.2 8.4 -8.0 -2.6 5.1 34

 35 Mortgages 2.1 13.5 12.6 -1.8 4.0 1.7 4.5 1.8 -0.8 1.2 3.6 35

 36 Consumer credit (3) 6.0 11.3 74.3 130.2 108.7 109.4 135.8 99.0 135.5 67.2 131.9 36

 37 Corporate equities (4) 0.0 256.3 0.6 24.1 40.3 -13.2 -19.8 -18.1 -9.8 -5.0 1.9 37

 38 Trade receivables 1.2 4.2 -21.1 -0.7 4.8 2.4 -5.2 6.9 6.0 1.9 -13.0 38

 39 Taxes receivable -35.5 -61.9 35.9 32.2 29.7 42.7 69.1 20.0 38.2 43.4 40.0 39

 40 Miscellaneous assets 1.9 -28.0 35.4 -3.5 1.9 -0.8 -10.7 5.9 0.1 1.3 1.8 40

 41 Net increase in liabilities 343.5 1351.4 1520.5 1677.6 1180.9 1195.2 1480.8 1283.7 775.0 1241.3 1365.8 41

 42 SDR allocations 0.0 0.0 47.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 42

 43 SDR certificates 0.0 0.0 3.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 43

 44 Treasury currency -0.7 -0.8 -0.4 -0.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 44

 45 Credit market instruments 237.1 1239.2 1443.9 1580.2 1067.9 1140.2 1428.1 1182.9 690.2 1259.4 1197.6 45

 46 Savings bonds -6.0 -2.4 -2.8 -3.3 -2.7 -2.8 -1.5 -2.4 -2.2 -4.9 -2.7 46

 47 Treasury bills 58.8 861.6 -73.3 -19.0 -249.5 107.0 612.6 -312.7 74.4 53.8 646.7 47

 48 Other Treasury securities 184.7 379.8 1519.8 1601.8 1319.0 1036.3 820.4 1497.9 618.3 1208.6 554.6 48

 49 Budget agency securities -0.4 0.2 0.1 0.7 1.1 -0.4 -3.3 0.1 -0.3 1.9 -1.0 49

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

 51 Trade payables 29.3 22.6 -56.2 6.2 8.8 9.3 15.4 -18.7 21.6 18.7 -10.8 51

 52 Insurance reserves 1.2 1.0 1.1 0.9 1.3 0.3 0.5 1.5 -0.2 -0.5 0.2 52

 53 Miscellaneous liabilities (5) 76.6 89.5 81.4 90.6 102.9 45.5 36.8 118.0 63.4 -36.4 178.8 53

 54 Nonmarketable securities held by pension plans 33.3 63.3 61.9 65.7 70.8 40.4 55.8 91.7 85.0 -70.9 167.3 54

 55 Other 43.3 26.2 19.5 24.9 32.1 5.0 -19.0 26.3 -21.6 34.5 11.5 55

 56 Discrepancy 24.1 86.8 -44.6 -62.3 -19.0 -113.1 374.5 -162.1 -551.3 -113.3 337.9 56

 Memo:

 57 Change in cash balance (6) 27.5 308.6 -173.2 148.9 -258.0 7.5 -167.4 198.2 -25.8 24.8 -54.8 57

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

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

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

 the government purchased from depository institutions and finance companies.

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

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

 retirement fund, and foreign service retirement and disability fund.

(6) Time and savings deposits (line 30) plus checkable deposit and currency liabilities of the monetary authority and U.S.-chartered depository institutions sectors (table F.204, lines 3 and 8).
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24 Z.1, June 6, 2013

F.106 Rest of the World

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Foreign income from U.S. 3248.7 3381.9 2612.0 3009.8 3343.7 3440.4 3480.7 3448.5 3408.2 3424.0 3463.9 1

 2 U.S. imports 2374.8 2556.5 1976.2 2356.1 2662.3 2744.0 2773.7 2765.4 2715.5 2721.3 2746.8 2

 3 U.S. income payments to rest of world 747.7 686.9 498.9 507.2 531.8 539.3 554.7 527.8 532.7 541.8 554.4 3

 4 Current taxes and trans. payments to rest of world 126.2 138.4 137.0 146.5 149.6 157.1 152.3 155.4 160.0 160.8 162.7 4

 5 Foreign outlays to U.S. 2532.6 2702.9 2229.9 2560.9 2877.9 2966.3 2927.5 2963.6 2974.5 2999.6 2990.5 5

 6 U.S. exports 1661.7 1846.8 1587.4 1844.4 2094.2 2184.0 2157.9 2188.5 2198.7 2191.1 2203.8 6

 7 U.S. income receipts from rest of world 871.0 856.1 642.4 716.5 783.7 782.3 769.6 775.1 775.8 808.5 786.7 7

 8 - Net capital transfers paid (1) -0.4 5.4 -0.6 -0.7 -1.6 6.7 -0.5 -0.5 -0.5 28.3 -0.5 8

 9 Gross saving less net capital transfers paid (2) 716.4 673.6 382.7 449.5 467.4 467.3 553.6 485.4 434.2 396.1 473.9 9

 10 Gross investment 618.1 736.6 239.5 382.7 555.1 406.2 664.4 426.4 271.4 262.6 318.2 10

 11 Nonproduced nonfinancial assets 0.5 -0.0 0.0 -0.0 -0.1 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Net lending (+) or net borrowing (-) 617.6 736.6 239.5 382.7 555.1 406.2 664.4 426.4 271.4 262.6 318.2 12

 13 Net acquisition of financial assets 1766.9 584.4 168.2 1148.0 1043.4 714.0 685.5 533.9 571.9 1064.8 1314.5 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 0.0 14

 15 SDR allocations 0.0 0.0 47.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Net interbank assets -111.4 410.8 -270.4 -48.2 221.1 -153.8 136.1 8.2 -191.9 -567.8 530.0 16

 17 U.S. checkable deposits and currency -5.4 64.0 -9.2 29.5 81.8 68.2 58.5 37.1 92.8 84.2 10.6 17

 18 U.S. time deposits 40.3 65.5 -43.1 16.9 33.1 46.1 -33.8 53.4 47.1 117.5 -68.6 18

 19 Money market fund shares 19.0 23.7 7.2 -7.1 -20.8 34.8 48.6 63.8 12.6 14.2 4.1 19

 20 Security RPs (net) -35.2 -214.0 -146.4 -126.1 51.2 -39.9 -153.3 -137.4 75.9 55.4 291.6 20

 21 Credit market instruments 943.4 377.2 123.5 622.9 352.7 410.1 343.8 155.4 684.3 456.7 682.2 21

 22 Open market paper -8.3 -45.1 -41.4 -0.5 0.7 3.4 46.2 -57.5 5.2 19.9 35.0 22

 23 Treasury securities 165.3 711.6 554.4 739.8 412.1 478.4 464.0 445.3 622.7 381.6 654.5 23

 24 Official 98.4 548.7 569.9 442.0 171.2 354.8 373.7 365.5 423.1 256.8 336.6 24

 25 Private 66.8 162.9 -15.5 297.8 240.9 123.6 90.3 79.7 199.7 124.8 317.8 25

 26 Agency- and GSE-backed securities 248.8 -228.6 -226.0 -72.3 -24.2 21.1 -21.8 -28.0 87.1 47.1 -165.5 26

 27 Official 236.1 -31.3 -169.5 -96.0 -21.2 -14.4 -14.8 -45.8 26.6 -23.7 -86.3 27

 28 Private 12.7 -197.3 -56.6 23.7 -2.9 35.5 -7.0 17.8 60.5 70.8 -79.2 28

 29 Municipal securities 10.7 5.9 7.7 13.1 -1.4 -4.9 5.0 -6.0 10.4 -28.9 -6.9 29

 30 U.S. corporate bonds (4) 424.6 -21.8 -127.3 -37.0 -68.3 -38.8 -63.2 -153.5 -14.3 75.8 162.4 30

 31 Loans to U.S. corporate business 102.3 -44.7 -44.0 -20.2 33.9 -49.2 -86.5 -44.8 -26.7 -38.7 2.6 31

 32 U.S. corporate equities 217.6 105.8 154.9 73.2 -99.3 -89.7 -183.2 -415.1 161.0 78.4 -172.3 32

 33 Mutual fund shares 39.1 -2.7 57.2 111.5 147.4 153.4 212.0 338.8 -21.0 83.9 114.7 33

 34 Trade receivables 20.8 6.5 6.6 19.6 17.2 11.1 15.5 7.8 26.1 -4.9 3.8 34

 35 Security credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 35

 36 Miscellaneous assets 638.8 -252.3 240.3 455.8 258.8 273.8 241.4 421.9 -315.0 747.1 -81.4 36

 37 Foreign direct investment in U.S. (5) 221.2 310.1 150.4 205.8 234.0 174.7 92.6 197.9 167.2 241.0 248.3 37

 38 Other 417.7 -562.4 89.8 250.0 24.9 99.2 148.9 224.0 -482.3 506.0 -329.8 38

 39 Net increase in liabilities 1149.3 -152.2 -71.3 765.3 488.2 307.9 21.1 107.6 300.5 802.2 996.4 39

 40 U.S. official reserve assets 0.1 4.8 52.3 1.8 15.9 4.5 4.9 13.2 3.3 -3.6 -3.0 40

 41 U.S. private deposits 256.0 -394.3 -106.0 25.9 -32.4 -42.0 -124.3 -134.6 165.1 -74.2 126.6 41

 42 Credit market instruments 170.3 -226.2 211.8 75.3 34.8 43.9 -4.1 -115.0 86.2 208.5 452.4 42

 43 Commercial paper -69.3 -71.0 59.4 -2.7 -53.5 27.6 32.9 -54.2 77.3 54.4 117.6 43

 44 Bonds 218.7 -158.8 163.3 59.9 57.8 -8.5 -73.6 -109.9 -0.0 149.5 294.3 44

 45 Depository institution loans n.e.c. 24.1 5.1 -11.2 17.9 29.2 19.2 29.0 44.8 8.8 -5.9 45.2 45

 46 Official -0.0 0.7 0.6 1.1 -1.7 -0.7 -0.3 -1.6 -0.3 -0.4 2.5 46

 47 Banks 8.3 2.8 -5.1 11.8 11.3 -1.9 2.1 11.2 -14.4 -6.4 25.4 47

 48 Other 15.8 1.6 -6.6 4.9 19.5 21.7 27.3 35.2 23.6 1.0 17.3 48

 49 Other loans and advances -3.2 -1.5 0.3 0.2 1.4 5.7 7.7 4.3 0.2 10.5 -4.7 49

 50 Foreign corporate equities (6) 147.8 -38.5 63.7 79.1 89.0 61.0 59.2 83.8 -8.6 109.6 294.2 50

 51 Trade payables 12.4 -9.9 6.1 25.8 -32.2 6.3 15.5 4.5 -2.2 7.4 -7.0 51

 52 Security debt 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 52

 53 Miscellaneous liabilities 562.7 511.9 -299.1 557.4 413.1 234.2 69.8 255.8 56.6 554.5 133.2 53

 54 U.S. equity in IBRD, etc. 1.7 1.4 1.7 2.3 2.6 2.6 1.5 7.0 1.0 1.1 -1.3 54

 55 Nonofficial foreign currencies 23.9 529.8 -543.3 -10.1 99.7 -91.0 -213.4 -74.0 -61.6 -14.9 -3.3 55

 56 U.S. direct investment abroad (4,5) 414.0 329.1 289.5 327.9 419.3 351.4 462.6 251.9 363.7 327.6 337.0 56

 57 Investment by holding companies 42.2 -9.1 23.5 10.6 30.6 -51.5 77.3 -77.8 -48.7 -156.9 89.8 57

 58 Other 80.9 -339.3 -70.5 226.7 -139.1 22.6 -258.1 148.7 -197.8 397.6 -289.0 58

 59 Discrepancy (FOF basis) (7) 98.3 -63.0 143.2 66.8 -87.7 61.2 -110.8 59.1 162.8 133.5 155.7 59

 Memo:

 60 Net U.S. exports, NIPA basis -713.1 -709.7 -388.7 -511.6 -568.1 -559.9 -615.8 -576.9 -516.8 -530.2 -543.0 60

 61 + Net U.S. income receipts (8) 123.3 169.2 143.5 209.3 251.9 243.0 214.9 247.3 243.1 266.6 232.2 61

 62 - Current taxes and trans. payments to rest of world 126.2 138.4 137.0 146.5 149.6 157.1 152.3 155.4 160.0 160.8 162.7 62

 63 = Balance on current account, NIPAs -716.0 -679.0 -382.2 -448.8 -465.8 -474.1 -553.2 -485.0 -433.7 -424.4 -473.4 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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F.107 Financial Business (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving less net capital transfers paid 206.8 81.8 371.7 370.9 355.5 340.6 360.9 326.1 388.5 287.0 409.8 1

 2 Gross investment 299.8 -87.7 206.8 -47.5 55.7 253.8 131.1 379.6 81.5 422.9 194.5 2

 3 Capital expenditures 178.2 195.1 164.3 159.5 179.1 196.9 192.4 195.0 195.4 204.9 209.4 3

 4 Fixed residential investment -9.3 0.1 -0.1 4.7 6.3 5.3 4.9 6.4 5.1 4.9 4.9 4

 5 Fixed nonresidential investment 187.5 195.0 164.4 154.8 172.9 191.6 187.6 188.6 190.2 200.0 204.5 5

 6 Net lending (+) or net borrowing (-) 121.6 -282.7 42.4 -206.9 -123.4 56.8 -61.3 184.6 -113.9 218.0 -14.9 6

 7 Net acqisition of financial assets 5130.5 4565.9 -1658.5 -631.7 1884.8 1571.4 1630.8 395.2 1541.6 2717.9 3904.7 7

 8 U.S. official reserve assets 0.5 0.6 0.3 0.3 -0.3 0.2 0.3 0.2 0.2 0.1 0.0 8

 9 SDR certificates 0.0 0.0 3.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Treasury currency 0.5 -0.0 4.0 0.9 0.7 0.6 0.8 0.5 0.5 0.5 0.9 10

 11 Foreign deposits 34.4 -14.6 11.6 8.7 -62.9 0.4 -11.3 -28.6 28.7 12.5 21.8 11

 12 Net interbank assets 54.2 1351.5 -349.5 -106.9 603.0 -64.1 -59.6 -179.2 -260.1 242.5 1169.2 12

 13 Checkable deposits and currency 30.5 68.2 -34.7 -29.3 32.5 10.2 -93.9 -9.6 -11.2 155.3 -3.1 13

 14 Time and savings deposits 104.0 121.9 129.8 -109.6 -43.5 7.2 -199.6 -57.0 228.4 56.9 -100.9 14

 15 Money market fund shares 331.3 289.2 -173.1 -165.9 -64.8 -18.0 -174.1 -171.3 36.5 237.0 -148.2 15

 16 Federal funds and security RPs 241.2 -67.4 -83.9 6.5 -58.1 140.2 268.1 273.8 67.1 -48.3 79.5 16

 17 Credit market instruments 3178.2 1972.2 -932.1 -213.4 968.1 1077.5 1315.4 476.2 746.2 1772.0 1830.9 17

 18 Open market paper -82.0 51.8 -374.5 -149.2 -110.3 -7.6 -7.8 30.5 -13.9 -39.4 111.6 18

 19 Treasury securities 120.9 352.9 361.7 425.3 969.5 283.9 695.2 -82.1 192.7 330.0 702.5 19

 20 Agency- and GSE-backed securities 306.3 705.3 684.7 131.6 157.5 256.6 326.5 189.0 172.4 338.6 663.4 20

 21 Municipal securities 184.7 42.1 38.5 44.1 15.8 139.1 108.8 96.2 208.9 142.5 99.1 21

 22 Corporate and foreign bonds 684.7 -101.9 54.0 281.8 164.9 383.9 525.8 168.0 411.8 429.8 306.8 22

 23 Depository institution loans n.e.c. 332.1 689.9 -749.7 -96.5 132.5 172.9 165.0 140.0 114.3 272.2 86.8 23

 24 Other loans and advances 419.1 145.5 -463.8 -209.7 -31.6 39.2 -68.4 104.9 -21.4 141.6 82.2 24

 25 Mortgages 1080.8 77.2 -299.2 -504.2 -312.7 -235.6 -416.3 -230.8 -319.4 24.0 -245.2 25

 26 Consumer credit 131.6 9.6 -183.7 -136.7 -17.6 45.2 -13.4 60.5 0.9 132.8 23.6 26

 27 Corporate equities 130.4 471.9 170.8 81.4 -30.5 250.5 334.2 45.0 353.2 269.4 195.8 27

 28 Mutual fund shares 84.2 39.5 68.4 17.1 13.3 87.4 86.1 74.9 90.3 98.5 164.7 28

 29 Trade receivables 1.8 -14.9 -38.0 -8.6 -0.8 -1.6 6.6 -8.0 5.9 -11.0 2.0 29

 30 Security credit 65.7 -274.2 -21.8 97.9 39.7 165.2 136.7 93.5 239.2 191.5 -144.8 30

 31 Life insurance reserves 16.2 5.3 2.8 8.2 7.3 14.7 36.9 9.0 11.7 1.1 15.3 31

 32 Miscellaneous assets 857.4 616.5 -416.3 -219.0 481.2 -98.9 -15.9 -124.4 5.0 -260.2 821.8 32

 33 Net increase in liabilities 5008.9 4848.6 -1700.9 -424.7 2008.3 1514.5 1692.2 210.6 1655.5 2499.9 3919.6 33

 34 Net interbank liabilities -53.4 1823.0 -590.9 -132.9 844.5 -211.3 142.7 -461.9 -249.2 -276.9 1885.9 34

 35 Checkable deposits and currency 36.7 568.4 -7.9 266.3 234.5 268.5 -73.4 313.3 228.0 606.1 297.4 35

 36 Time and savings deposits 599.9 334.2 375.4 116.1 372.8 516.1 291.4 468.6 439.9 864.5 26.3 36

 37 Money market fund shares 736.8 724.2 -498.7 -503.2 -112.8 7.1 -207.3 -164.5 64.2 335.9 -152.7 37

 38 Federal funds and security RPs -0.1 -888.0 232.0 -197.1 -133.4 -14.0 200.0 -105.8 -189.6 39.3 -130.9 38

 39 Credit market instruments 1814.2 896.9 -1808.7 -931.7 -435.3 -394.0 -333.7 -697.4 -275.1 -269.8 88.8 39

 40 Open market paper -111.5 -125.4 -448.1 -102.2 -68.2 -58.7 -6.3 -34.7 -32.0 -161.8 22.4 40

 41 Agency- and GSE-backed securities 905.7 768.7 -60.1 -46.9 -21.9 -22.4 -115.4 -18.9 -18.3 63.0 209.4 41

 42 Corporate and foreign bonds 709.5 -282.9 -585.9 -575.1 -325.9 -208.0 -45.1 -434.2 -244.0 -108.9 -178.6 42

 43 Depository institution loans n.e.c. 80.1 496.4 -435.4 -62.9 31.6 -124.0 -150.8 -301.2 50.1 -93.9 -25.7 43

 44 Other loans and advances 225.8 33.3 -282.6 -144.7 -60.0 3.5 -26.5 66.6 -43.1 16.9 38.6 44

 45 Mortgages 4.7 6.8 3.4 0.2 9.1 15.6 10.4 24.9 12.2 14.9 22.7 45

 46 Corporate equities 179.6 639.3 316.4 191.2 164.5 152.0 37.1 121.8 253.8 195.2 209.5 46

 47 Mutual fund shares 361.5 -9.9 497.1 370.1 338.4 735.7 1121.9 560.7 784.2 476.1 997.5 47

 48 Trade payables -2.4 -24.7 48.9 -52.0 -3.8 -0.0 12.2 -15.3 -2.0 5.0 4.5 48

 49 Security credit 243.0 -237.3 -134.0 48.4 137.1 124.0 60.8 248.1 150.6 36.4 -152.5 49

 50 Life insurance reserves 33.0 66.0 25.4 16.4 92.8 -11.9 -10.1 -74.6 12.0 25.1 26.5 50

 51 Pension fund reserves 567.5 53.6 30.2 335.2 263.6 239.4 213.1 181.1 328.5 234.8 63.6 51

 52 Taxes payable -23.5 -133.6 6.1 13.0 10.6 6.4 21.9 1.0 37.8 -34.9 44.1 52

 53 Equity in noncorporate business 2.4 11.5 -3.6 0.4 -2.0 6.4 29.1 5.5 -3.9 -4.9 -13.0 53

 54 Miscellaneous liabilities 513.7 1024.8 -188.6 35.1 236.5 90.2 186.5 -169.8 76.4 267.8 724.9 54

 55 Discrepancy -93.0 169.5 164.9 418.3 299.8 86.9 229.8 -53.5 307.1 -135.9 215.3 55

(1) Sum of financial sectors shown on tables F.108 and F.110 through F.129.
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F.108 Monetary Authority (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving 1.2 3.0 -0.7 -8.5 -0.3 3.6 12.3 3.3 3.1 -4.1 -0.1 1

 2 Fixed nonresidential investment 0.8 0.6 0.7 0.6 0.6 0.6 0.6 0.6 0.6 0.7 0.7 2

 3 Net acquisition of financial assets 43.1 1319.3 -3.4 186.0 494.0 7.7 -186.3 -27.5 -203.0 447.7 1211.2 3

 4 U.S. official reserve assets 0.5 0.6 0.3 0.3 -0.3 0.2 0.3 0.2 0.2 0.1 0.0 4

 5 SDR certificates 0.0 0.0 3.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Treasury currency 0.5 -0.0 4.0 0.9 0.7 0.6 0.8 0.5 0.5 0.5 0.9 6

 7 Federal Reserve float (2) 0.3 -1.5 -0.6 0.7 0.8 0.1 -0.4 0.0 0.4 0.5 -0.4 7

 8 Interbank loans (2) 48.6 511.1 -463.1 -96.4 -0.0 -0.1 -0.8 0.3 0.2 -0.2 -0.2 8

 9 Discount window (3) 48.6 495.4 -447.4 -96.4 -0.0 -0.1 -0.8 0.3 0.2 -0.2 -0.2 9

 10 AMLF (4) 0.0 15.7 -15.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Security RPs 5.8 33.5 -80.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Credit market instruments -38.3 245.4 1001.6 271.5 376.5 34.5 -33.4 -23.5 -203.4 398.4 1134.2 12

 13 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Treasury securities -38.3 -264.7 300.7 244.9 642.0 2.7 46.3 -18.6 -78.8 61.8 575.2 14

 15 Treasury bills -49.2 -209.4 0.0 0.0 0.0 -18.4 0.0 0.0 -73.7 0.0 0.0 15

 16 Other Treasury securities 10.9 -55.3 300.7 244.9 642.0 21.1 46.3 -18.6 -5.1 61.8 575.2 16

 17 Agency- and GSE-backed securities 0.0 19.7 1048.5 71.4 -197.9 61.8 -33.6 52.9 -112.4 340.2 559.7 17

 18 Mortgage-backed securities 0.0 0.0 908.4 83.8 -154.5 89.0 -3.6 72.9 -80.1 366.7 577.1 18

 19 Other agency- and GSE-baked securities 0.0 19.7 140.2 -12.4 -43.5 -27.2 -30.1 -20.0 -32.3 -26.5 -17.4 19

 20 Depository institution loans n.e.c. 0.0 490.4 -347.6 -44.8 -67.6 -29.9 -46.1 -57.7 -12.2 -3.6 -0.7 20

 21 Households (TALF) (5) 0.0 0.0 47.5 -22.8 -15.7 -8.5 -7.8 -10.1 -12.2 -3.6 -0.7 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 0.0 22

 23 Brokers and dealers (6) 0.0 45.5 -45.5 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 29.1 0.1 -3.4 -21.0 -4.9 -7.8 -11.7 0.0 0.0 0.0 24

 25 Funding corporations (AIG) 0.0 38.9 -16.7 -2.2 -20.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 Funding corporations (Maiden Lane II) (8) 0.0 19.5 -3.5 -2.5 -6.7 -6.8 -27.2 0.0 0.0 0.0 0.0 26

 27 Funding corporations (Maiden Lane III) (9) 0.0 24.4 -5.9 -4.4 -4.2 -9.8 -3.3 -36.0 0.0 0.0 0.0 27

 28 Funding corporations (CPFF) (10) 0.0 333.0 -323.6 -9.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

 29 Corporate equities (11) 0.0 0.0 25.1 1.3 -26.4 0.0 0.0 0.0 0.0 0.0 0.0 29

 30 Miscellaneous assets 25.8 530.2 -493.8 7.8 142.9 -27.6 -152.8 -5.0 -1.0 48.5 76.7 30

 31 Nonofficial foreign currencies (12) 24.0 529.7 -543.5 -10.2 99.7 -90.9 -213.4 -74.1 -61.7 -14.6 -3.3 31

 32 Other 1.8 0.5 49.6 18.0 43.1 63.4 60.5 69.0 60.7 63.1 80.1 32

 33 Net increase in liabilities 39.9 1316.7 -8.0 185.1 493.7 7.3 -187.6 -28.0 -203.1 447.8 1210.4 33

 34 Depository institution reserves 2.1 839.2 117.0 -8.9 594.2 -71.2 -49.3 -171.8 -266.5 202.7 1197.2 34

 35 Vault cash of commercial banks 3.3 2.7 -2.8 -2.2 8.1 7.1 -9.2 -7.7 5.8 39.5 -27.4 35

 36 Checkable deposits and currency 17.8 428.2 -117.6 185.0 -122.1 62.1 -166.0 244.0 50.4 120.1 -4.9 36

 37 Due to federal government 11.4 349.3 -173.8 149.0 -255.0 7.0 -167.7 195.2 -24.1 24.5 -52.3 37

 38 Treasury cash holdings 0.0 0.0 -0.0 -0.1 -0.0 0.0 0.1 -0.1 0.0 0.1 0.3 38

 39 Treasury general deposit account 11.4 90.0 80.5 -45.9 -55.0 7.0 -167.7 195.4 -24.1 24.4 -52.6 39

 40 Treasury temporary supplementary financing account 0.0 259.3 -254.3 195.0 -200.0 0.0 0.0 0.0 0.0 0.0 0.0 40

 41 Due to rest of the world -0.0 1.3 1.0 0.9 -3.2 6.3 0.0 5.8 16.2 3.2 11.0 41

 42 Due to government-sponsored enterprises 0.9 19.4 14.0 -21.6 51.1 -37.4 -111.0 -27.7 -29.2 18.3 -28.1 42

 43 Currency outside banks 5.5 58.2 41.2 56.7 85.0 86.2 112.6 70.7 87.5 74.2 64.5 43

 44 Security RPs 14.4 44.4 -10.6 -18.0 40.2 7.3 -12.9 -44.8 29.1 57.8 -6.9 44

 45 Miscellaneous liabilities 2.5 2.2 6.1 29.2 -26.7 2.0 49.9 -47.8 -21.9 27.6 52.4 45

 46 Federal Reserve Bank stock 3.1 2.6 4.6 0.9 0.4 0.5 1.3 0.5 0.1 -0.0 0.8 46

 47 Other -0.7 -0.5 1.5 28.3 -27.1 1.5 48.6 -48.3 -22.0 27.6 51.5 47

 48 Discrepancy -2.8 -0.2 -6.0 -10.0 -1.3 2.5 10.4 2.1 2.3 -4.7 -1.5 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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F.109 Private Depository Institutions (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving less net capital transfers paid (2) -21.5 32.1 88.3 122.2 68.2 41.5 16.2 48.3 94.0 7.4 137.1 1

 2 Fixed nonresidential investment 10.3 34.2 30.9 25.0 26.0 32.7 31.1 30.1 32.4 37.2 40.0 2

 3 Net lending (+) or net borrowing (-) 94.2 -40.2 -267.1 -210.0 -110.7 -90.3 -305.3 111.5 -276.4 108.9 -88.9 3

 4 Net acquisition of financial assets 952.3 1574.9 -624.4 -228.1 1027.1 422.5 220.5 411.4 334.6 723.4 1229.5 4

 5 Vault cash 3.3 2.7 -2.8 -2.2 8.1 7.1 -9.2 -7.7 5.8 39.5 -27.4 5

 6 Reserves at Federal Reserve 2.1 839.2 117.0 -8.9 594.2 -71.2 -49.3 -171.8 -266.5 202.7 1197.2 6

 7 Credit market instruments 815.9 381.2 -591.8 -202.6 197.4 403.0 240.5 383.0 232.4 756.1 73.0 7

 8 Open market paper -0.5 15.3 -15.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Treasury securities 10.4 -20.8 94.7 103.0 -46.7 86.6 80.6 95.8 39.3 130.7 -67.3 9

 10 Agency- and GSE-backed securities -115.8 142.2 172.6 138.5 133.6 49.7 293.2 -98.9 11.7 -7.1 171.2 10

 11 Municipal securities 12.6 20.4 3.4 29.3 46.8 66.0 52.7 75.7 90.6 45.0 58.0 11

 12 Corporate and foreign bonds 232.2 -40.4 -136.0 -126.8 6.9 -5.6 -147.6 -13.5 84.7 54.0 -85.8 12

 13 Depository institution loans n.e.c. 332.1 199.5 -402.1 -51.8 200.1 202.8 211.1 197.7 126.5 275.8 87.5 13

 14 Other loans and advances 0.0 -0.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Mortgages 286.3 -4.5 -245.2 -213.9 -146.8 -45.2 -222.1 22.6 -147.8 166.3 -107.0 15

 16 Consumer credit 58.6 69.7 -63.6 -81.0 3.6 48.7 -27.4 103.5 27.3 91.3 16.4 16

 17 Corporate equities 1.4 0.9 6.3 -1.7 0.9 5.1 8.5 3.0 6.1 3.0 -2.7 17

 18 Mutual fund shares 3.6 1.3 14.1 -5.6 -0.5 8.7 -9.3 11.4 11.5 21.1 14.7 18

 19 Security credit 32.3 -113.5 -59.9 22.7 79.0 100.3 21.2 186.6 140.5 53.0 -154.7 19

 20 Life insurance reserves 10.9 6.4 0.8 4.5 4.8 7.4 12.4 4.8 5.9 6.4 5.3 20

 21 Miscellaneous assets 82.8 456.6 -108.0 -34.2 143.1 -38.0 5.7 2.1 198.9 -358.5 124.0 21

 22 Net increase in liabilities 858.1 1615.1 -357.3 -18.1 1137.8 512.8 525.7 299.9 611.0 614.5 1318.4 22

 23 Net interbank liabilities -58.7 981.0 -705.0 -121.8 242.2 -147.2 201.2 -282.4 11.5 -519.1 716.1 23

 24 Checkable deposits 18.9 140.2 109.7 81.3 356.7 206.4 92.6 69.3 177.7 485.9 302.3 24

 25 Small time and savings deposits 316.4 524.8 517.2 298.3 577.4 539.7 378.9 473.4 584.4 721.9 87.5 25

 26 Large time deposits 283.4 -190.6 -141.8 -182.3 -204.6 -23.6 -87.5 -4.8 -144.5 142.5 -61.1 26

 27 Federal funds and security RPs (net) -79.5 -347.2 291.3 -141.8 -78.6 -112.0 -183.4 -9.2 -216.5 -38.8 -140.6 27

 28 Credit market instruments 236.0 7.2 -306.3 -162.1 -75.8 -26.3 -46.4 -6.7 -95.2 43.2 -23.5 28

 29 Open market paper -0.1 0.0 0.1 -20.1 7.6 -33.1 -65.1 -9.0 -45.4 -13.0 -52.3 29

 30 Corporate bonds 24.8 0.1 -28.5 6.7 -21.0 1.3 50.4 -50.9 -18.2 23.7 -7.6 30

 31 Other loans and advances 211.2 7.1 -278.0 -148.7 -62.5 5.6 -31.7 53.2 -31.6 32.4 36.4 31

 32 Corporate equity issues 7.5 12.1 11.6 11.9 6.4 2.1 3.5 1.3 1.1 2.3 1.4 32

 33 Taxes payable (net) -15.6 -86.0 7.3 6.6 10.6 6.7 7.7 9.1 16.3 -6.4 7.6 33

 34 Miscellaneous liabilities 149.6 573.5 -141.4 191.7 303.6 67.1 159.1 50.0 276.3 -217.1 428.7 34

 35 Foreign direct investment in U.S. -0.8 24.8 16.6 9.3 17.9 1.6 -26.0 13.3 9.2 9.9 21.5 35

 36 Investment by holding companies 114.0 113.6 166.8 33.4 76.1 101.2 22.3 174.2 136.6 71.8 110.5 36

 37 Investment by funding corporations 43.7 35.6 -73.5 -31.5 -33.7 -11.8 65.7 -103.0 -42.3 32.3 67.7 37

 38 Other -7.3 399.5 -251.2 180.5 243.3 -24.0 97.1 -34.6 172.8 -331.1 229.1 38

 39 Discrepancy -126.1 38.1 324.5 307.2 152.9 99.1 290.4 -93.3 338.1 -138.7 186.1 39

 Memo:

 40 Consumer leases not included above (3) -1.8 -1.7 -2.6 -0.8 -0.1 0.4 -0.4 -0.2 1.0 1.2 1.2 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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F.110 U.S.-Chartered Depository Institutions, Excluding Credit Unions

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving less net capital transfers paid (1) -34.2 22.5 78.8 110.8 54.3 26.1 0.1 34.6 76.9 -6.9 118.7 1

 2 Fixed nonresidential investment 2.4 27.1 24.6 20.0 20.1 26.2 24.7 23.7 26.0 30.6 33.3 2

 3 Net acquisition of financial assets 692.4 956.4 -310.9 -362.0 333.9 401.6 380.0 242.1 200.7 783.5 816.4 3

 4 Vault cash 3.3 2.7 -2.8 -2.2 8.1 7.1 -9.2 -7.7 5.8 39.5 -27.4 4

 5 Reserves at Federal Reserve 1.7 596.6 53.7 -89.7 224.8 -4.6 32.7 -167.2 -165.5 281.9 791.3 5

 6 Credit market instruments 585.4 241.9 -336.7 -176.6 126.9 357.8 214.6 391.3 117.1 708.4 93.8 6

 7 Open market paper 0.0 15.7 -15.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Treasury securities 5.6 -23.7 68.1 93.0 -43.7 69.3 25.7 138.2 -28.5 142.0 -83.9 8

 9 Agency- and GSE-backed securities -111.0 136.2 168.0 110.1 106.9 35.5 260.2 -123.2 17.2 -12.0 163.2 9

 10 Residential mortgage pass-through securities -49.1 153.9 -13.4 -2.2 63.8 18.6 210.3 -57.5 2.0 -80.5 160.0 10

 11 Commercial mortgage pass-through securities 0.0 0.0 0.1 -0.2 4.8 8.6 5.2 6.6 11.4 11.4 11.7 11

 12 Residential CMOs and other structured MBS -5.9 19.8 70.1 129.4 80.3 -10.8 66.5 -85.5 -2.2 -21.9 -31.6 12

 13 Commercial CMOs and other structured MBS 0.0 0.0 0.1 -0.4 9.8 21.0 13.2 26.6 22.0 22.4 19.5 13

 14 Other -56.1 -37.5 111.3 -16.6 -51.8 -1.9 -35.0 -13.3 -16.0 56.6 3.5 14

 15 Municipal securities 11.9 19.9 2.4 30.3 42.6 65.8 46.8 81.5 90.7 44.2 53.3 15

 16 Corporate and foreign bonds 151.2 -64.1 25.9 -98.8 3.0 -1.2 -78.3 -13.9 55.4 32.2 -14.7 16

 17 Private residential mortgage pass-through securities 11.0 -25.7 6.6 -9.7 -3.1 15.3 -1.3 62.5 -2.6 2.5 3.7 17

 18 Private commercial mortgage pass-through securities 0.0 0.0 1.1 -6.4 -2.5 0.4 1.4 -0.3 -0.3 0.6 -0.5 18

 19 Private residential CMOs and other structured MBS 104.3 -43.3 -51.6 -70.6 -22.0 -20.8 -47.0 -14.5 -3.8 -17.7 -18.7 19

 20 Private commercial CMOs and other structured MBS 0.0 0.0 -3.8 -1.4 2.7 4.1 -5.1 10.2 5.0 6.3 4.4 20

 21 Other 35.8 5.0 73.7 -10.7 27.8 -0.1 -26.3 -71.8 57.0 40.5 -3.5 21

 22 Depository institution loans n.e.c. 226.6 131.2 -277.7 -35.9 156.3 212.4 231.2 212.7 114.9 291.0 92.4 22

 23 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 Mortgages 243.0 -43.4 -243.3 -205.0 -145.4 -52.2 -223.0 20.1 -153.4 147.5 -96.4 24

 25 Consumer credit 58.1 70.1 -64.5 -70.3 7.1 28.1 -48.0 76.0 20.8 63.5 -20.1 25

 26 Corporate equities 1.4 0.9 6.3 -1.8 1.0 5.1 8.5 3.0 6.1 3.0 -2.7 26

 27 Mutual fund shares 3.6 1.3 14.8 -5.8 -0.8 8.3 -10.3 11.6 11.1 20.7 13.8 27

 28 Security credit 29.3 12.8 -59.2 -5.8 37.3 42.3 -39.4 75.8 128.1 4.7 -135.7 28

 29 Life insurance reserves 10.9 6.4 0.8 4.5 4.8 7.4 12.4 4.8 5.9 6.4 5.3 29

 30 Miscellaneous assets 56.7 93.7 12.2 -84.6 -68.2 -21.9 170.7 -69.4 92.3 -281.1 77.9 30

 31 Net increase in liabilities 599.6 992.7 -59.6 -141.7 472.8 492.9 704.2 113.5 465.8 688.0 896.0 31

 32 Net interbank liabilities 130.9 746.9 -534.3 -213.0 -229.4 -125.6 198.9 -379.7 -55.0 -266.7 449.5 32

 33 Federal Reserve float 0.3 -1.5 -0.6 0.7 0.8 0.1 -0.4 0.0 0.4 0.5 -0.4 33

 34 Borrowing from Federal Reserve banks 48.6 511.1 -463.1 -96.4 -0.0 -0.1 -0.8 0.3 0.2 -0.2 -0.2 34

 35 To domestic banking 24.1 71.3 23.5 -28.2 58.3 -29.3 45.0 -245.1 47.7 35.4 140.8 35

 36 To foreign banks 58.0 166.1 -94.1 -89.0 -288.5 -96.4 155.1 -134.9 -103.4 -302.3 309.3 36

 37 Checkable deposits 13.5 137.9 94.0 69.6 319.4 176.9 53.1 45.6 166.3 442.6 255.3 37

 38 Federal government 14.9 -39.5 0.3 -0.1 -2.7 0.3 -0.2 1.6 -0.7 0.5 -0.8 38

 39 Rest of the world 5.0 31.2 -28.7 -3.8 25.6 -4.2 -13.5 -4.6 4.6 -3.4 -22.8 39

 40 Private domestic -6.3 146.2 122.4 73.5 296.5 180.8 66.8 48.6 162.4 445.5 278.8 40

 41 Small time and savings deposits 282.7 480.6 472.3 271.7 537.1 491.6 299.5 416.7 541.5 708.5 33.8 41

 42 Large time deposits 4.1 -69.0 -329.8 -130.2 -35.3 -4.8 25.4 104.1 -153.5 4.6 -107.8 42

 43 Federal funds and security RPs (net) -68.4 -255.8 253.5 -194.9 -112.9 -138.2 -191.8 -37.4 -187.9 -135.5 -108.6 43

 44 Credit market instruments 222.5 -0.9 -292.2 -161.7 -73.9 -27.2 -41.4 -10.1 -97.8 40.4 -12.1 44

 45 Open market paper -0.1 0.2 0.1 -20.1 7.6 -33.1 -65.1 -9.0 -45.4 -13.0 -52.3 45

 46 Corporate bonds 24.8 0.1 -28.5 6.7 -21.0 1.3 50.4 -50.9 -18.2 23.7 -7.6 46

 47 Other loans and advances 197.8 -1.2 -263.9 -148.3 -60.5 4.6 -26.6 49.8 -34.2 29.6 47.8 47

 48 Corporate equity issues 7.5 12.1 11.6 11.9 6.4 2.1 3.5 1.3 1.1 2.3 1.4 48

 49 Taxes payable (net) -15.6 -86.0 7.3 6.6 10.6 6.7 7.7 9.1 16.3 -6.4 7.6 49

 50 Miscellaneous liabilities 22.3 26.7 257.9 198.4 50.8 111.5 349.3 -36.2 234.8 -101.8 376.9 50

 51 Investment by holding companies 114.0 113.6 166.8 33.4 76.1 101.2 22.3 174.2 136.6 71.8 110.5 51

 52 Other -91.7 -86.9 91.2 165.1 -25.4 10.3 326.9 -210.4 98.2 -173.6 266.4 52

 53 Discrepancy -129.4 31.7 305.5 311.0 173.2 91.2 299.6 -117.8 315.9 -133.0 165.0 53

 Memo:

 54 Consumer leases not included above (2) -1.8 -1.7 -2.6 -0.8 -0.1 0.4 -0.4 -0.2 1.0 1.2 1.2 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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F.111 Foreign Banking Offices in U.S. (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving 3.6 2.5 2.5 2.5 3.2 3.4 3.3 3.3 3.4 3.4 3.4 1

 2 Fixed nonresidential investment 4.1 2.9 2.6 2.2 2.9 3.1 3.1 3.1 3.1 3.2 3.2 2

 3 Net acquisition of financial assets 219.8 576.8 -357.3 69.3 662.2 -32.0 -302.0 189.3 115.3 -130.4 339.7 3

 4 Reserves at Federal Reserve 0.4 238.0 45.1 66.7 360.2 -72.2 -127.3 34.6 -68.9 -127.2 410.1 4

 5 Credit market instruments 201.7 100.8 -285.8 -30.8 37.7 -0.7 -55.2 -39.4 83.9 7.7 -89.0 5

 6 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Treasury securities 3.6 5.1 22.0 3.5 -0.5 16.1 44.5 -42.6 65.3 -2.7 11.8 7

 8 Agency- and GSE-backed securities 2.0 -6.5 -19.3 -4.8 4.0 1.5 -6.1 12.9 -8.3 7.6 -17.5 8

 9 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Corporate and foreign bonds 77.0 32.1 -156.7 -11.0 0.6 -5.8 -72.2 0.7 29.0 19.4 -73.2 10

 11 Depository institution loans n.e.c. 105.0 65.1 -125.4 -16.1 36.1 -10.7 -15.0 -10.3 -2.1 -15.5 -5.2 11

 12 Other loans and advances 0.0 -0.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Mortgages 14.1 5.2 -6.4 -2.5 -2.6 -1.9 -6.4 -0.1 0.1 -1.2 -4.9 13

 14 Corporate equities 0.0 0.0 0.0 0.1 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Security credit 3.0 -126.3 -0.8 28.5 41.6 58.0 60.6 110.8 12.4 48.3 -19.0 15

 16 Miscellaneous assets 14.7 364.3 -115.8 4.9 222.7 -17.0 -180.1 83.3 87.9 -59.2 37.5 16

 17 Net increase in liabilities 222.9 572.1 -355.9 70.5 666.8 -29.3 -298.2 190.1 121.0 -130.3 347.5 17

 18 Net interbank liabilities -191.1 240.4 -158.9 48.2 496.5 -11.7 -40.7 169.0 106.7 -281.8 273.3 18

 19 To foreign banks -169.4 244.7 -176.3 40.8 509.6 -57.5 -19.0 143.1 -88.5 -265.5 220.6 19

 20 To domestic banks -21.7 -4.3 17.5 7.3 -13.1 45.7 -21.7 25.8 195.2 -16.4 52.7 20

 21 Checkable deposits 2.6 1.7 2.6 5.7 23.7 16.2 -5.1 18.4 19.9 31.7 7.5 21

 22 Small time and savings deposits 6.9 0.1 4.4 5.8 13.2 13.8 36.0 16.8 1.2 1.2 20.7 22

 23 Large time deposits 273.4 -123.2 173.9 -49.6 -172.4 -24.8 -119.2 -114.7 6.7 127.9 39.0 23

 24 Federal funds and security RPs (net) -13.6 -96.3 40.3 52.9 50.2 20.0 20.3 1.4 -42.9 101.0 -39.8 24

 25 Acceptance liabilities 0.0 -0.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 Miscellaneous liabilities 144.8 549.5 -418.2 7.5 255.5 -42.7 -189.3 99.3 29.4 -110.3 46.8 26

 27 Foreign direct investment in U.S. -0.8 24.8 16.6 9.3 17.9 1.6 -26.0 13.3 9.2 9.9 21.5 27

 28 Investment by funding corporations 43.7 35.6 -73.5 -31.5 -33.7 -11.8 65.7 -103.0 -42.3 32.3 67.7 28

 29 Other 101.9 489.1 -361.2 29.6 271.3 -32.5 -229.1 189.0 62.4 -152.5 -42.3 29

 30 Discrepancy 2.6 -5.1 1.3 1.6 5.0 2.9 4.1 1.1 5.9 0.3 8.0 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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F.112 Banks in U.S.-Affiliated Areas (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving 0.1 0.2 0.2 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 1

 2 Fixed nonresidential investment 0.1 0.2 0.2 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 2

 3 Net acquisition of financial assets -0.3 -2.9 -7.3 -14.8 -4.1 0.0 -0.5 11.4 -13.3 2.6 -1.6 3

 4 Credit market instruments -6.4 -1.9 -2.8 -19.3 -4.9 -0.1 -0.6 -4.6 -2.9 7.5 -1.1 4

 5 Treasury securities -1.9 -0.6 -0.7 0.6 -0.0 -0.6 -0.7 1.9 -1.5 -2.1 -0.1 5

 6 Agency- and GSE-backed securities -2.7 -2.0 -3.9 -7.7 -8.0 -2.2 1.2 -1.2 -3.3 -5.5 -0.7 6

 7 Municipal securities 0.7 0.5 0.9 -0.9 0.9 -0.8 -0.1 -2.6 0.1 -0.7 0.2 7

 8 Corporate and foreign bonds 0.1 0.0 1.5 -1.4 3.6 1.0 0.5 -0.8 2.0 2.4 1.6 8

 9 Depository institution loans n.e.c. -4.2 -1.7 -0.3 -3.3 1.1 1.0 0.4 0.3 1.4 1.7 0.3 9

 10 Home mortgages 4.3 1.4 -0.3 -2.5 -2.4 2.3 -1.0 -1.0 -0.8 11.9 -0.3 10

 11 Commercial mortgages -2.7 0.4 -0.0 -4.0 -0.1 -0.8 -0.9 -1.1 -0.9 -0.2 -2.1 11

 12 Miscellaneous assets 6.1 -1.0 -4.5 4.5 0.8 0.2 0.1 16.0 -10.4 -5.0 -0.6 12

 13 Net increase in liabilities -7.7 -3.4 -1.1 -14.8 -3.1 -0.1 -1.4 12.1 -11.5 0.5 -1.4 13

 14 Net interbank liabilities 0.3 -0.6 -1.0 0.9 -1.2 -0.4 0.5 -0.6 -2.9 1.5 1.1 14

 15 Checkable deposits 1.7 -1.1 1.4 0.5 2.8 2.5 0.7 11.0 -5.5 3.9 -0.3 15

 16 Small time and savings deposits 1.1 1.1 -2.9 -5.2 -0.4 -0.1 -0.8 3.4 -4.1 1.2 0.6 16

 17 Large time deposits 1.1 1.1 -2.9 -5.2 -0.4 -0.1 -0.8 3.4 -4.1 1.2 0.6 17

 18 Miscellaneous liabilities -11.9 -3.8 4.3 -5.9 -3.9 -2.0 -1.1 -5.0 5.2 -7.2 -3.4 18

 19 Discrepancy -7.4 -0.5 6.2 -0.0 1.0 -0.1 -0.9 0.7 1.9 -2.0 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; quarterly figures are seasonally adjusted annual rates

 1 Gross saving 9.0 7.0 6.8 8.8 10.5 11.9 12.6 10.3 13.7 10.8 14.9 1

 2 Fixed nonresidential investment 3.8 3.9 3.5 2.8 2.9 3.2 3.2 3.2 3.2 3.3 3.3 2

 3 Net acquisition of financial assets 40.4 44.6 51.1 79.4 35.1 52.8 143.0 -31.4 32.0 67.7 75.1 3

 4 Reserves at Federal Reserve 0.0 4.7 18.1 14.1 9.2 5.6 45.4 -39.1 -32.1 48.1 -4.2 4

 5 Credit market instruments 35.3 40.4 33.5 24.0 37.6 46.0 81.6 35.6 34.4 32.5 69.3 5

 6 Open market paper -0.5 -0.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Treasury securities 3.0 -1.6 5.4 5.9 -2.5 1.7 11.0 -1.7 4.0 -6.5 4.9 7

 8 Agency- and GSE-backed securities -4.1 14.4 27.8 40.9 30.6 14.9 38.0 12.7 6.1 2.7 26.2 8

 9 Municipal securities 0.0 0.0 0.0 0.0 3.2 1.0 5.9 -3.2 -0.2 1.5 4.5 9

 10 Corporate and foreign bonds 3.9 -8.4 -6.7 -15.7 -0.3 0.3 2.4 0.5 -1.6 0.1 0.5 10

 11 Depository institution loans n.e.c. 4.8 4.8 1.3 3.5 6.6 0.1 -5.5 -4.8 12.4 -1.5 0.0 11

 12 Home mortgages 27.7 32.0 4.8 0.0 3.5 7.3 9.2 4.6 7.1 8.4 -3.3 12

 13 Consumer credit 0.5 -0.4 0.9 -10.7 -3.4 20.6 20.6 27.5 6.5 27.8 36.5 13

 14 Mutual fund shares -0.0 -0.0 -0.7 0.2 0.3 0.4 1.0 -0.1 0.4 0.4 0.9 14

 15 Miscellaneous assets 5.2 -0.4 0.2 41.1 -12.1 0.8 15.0 -27.8 29.2 -13.3 9.2 15

 16 Net increase in liabilities 43.2 53.7 59.3 68.0 1.3 49.3 121.1 -15.9 35.8 56.2 76.3 16

 17 Net interbank liabilities 1.1 -5.7 -10.9 42.2 -23.7 -9.5 42.4 -71.1 -37.3 27.9 -7.8 17

 18 Shares/deposits 31.7 45.1 72.0 34.3 41.5 51.3 95.3 33.2 49.1 27.6 79.3 18

 19 Checkable 1.1 1.6 11.6 5.5 10.7 10.7 43.9 -5.7 -3.1 7.8 39.9 19

 20 Small time and savings 25.8 43.0 43.4 26.1 27.4 34.4 44.2 36.5 45.9 11.0 32.4 20

 21 Large time 4.8 0.5 17.0 2.8 3.4 6.2 7.2 2.4 6.4 8.8 7.0 21

 22 Federal funds and security RPs (net) 2.6 4.8 -2.4 0.1 -15.9 6.2 -11.8 26.8 14.3 -4.3 7.8 22

 23 Other loans and advances 13.4 8.3 -14.1 -0.4 -2.0 0.9 -5.1 3.3 2.6 2.8 -11.4 23

 24 Miscellaneous liabilities -5.6 1.1 14.7 -8.3 1.3 0.3 0.3 -8.1 7.0 2.2 8.4 24

 25 Discrepancy 8.0 12.1 11.5 -5.4 -26.3 5.1 -12.4 22.7 14.3 -4.0 12.8 25
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F.114 Property-Casualty Insurance Companies

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving less net capital transfers paid (1) 55.8 30.1 38.3 44.2 48.3 33.7 52.3 39.3 59.2 -16.1 61.2 1

 2 Fixed nonresidential investment 19.5 19.9 19.8 16.9 18.1 19.6 19.3 19.5 19.5 20.1 20.3 2

 3 Net acquisition of financial assets 43.0 25.1 38.4 -38.4 28.7 21.0 16.7 19.1 26.7 21.6 -31.6 3

 4 Checkable deposits and currency 12.8 -14.8 -0.3 5.0 -8.5 12.3 20.2 0.5 14.6 13.9 -23.2 4

 5 Money market fund shares 7.2 12.1 -3.2 -4.0 -5.6 3.8 3.5 3.7 3.8 4.0 -4.0 5

 6 Security RPs 1.7 0.8 0.1 -0.7 -2.1 0.1 0.1 0.1 0.1 0.1 -0.3 6

 7 Credit market instruments 5.3 -15.9 33.3 3.9 36.2 -2.5 -13.7 -11.0 1.1 13.6 -8.8 7

 8 Open market paper -3.1 5.8 -9.3 -1.9 0.9 -1.3 -1.4 -1.3 -1.3 -1.2 -1.2 8

 9 Treasury securities -38.7 -5.6 22.9 3.2 4.6 -6.1 -7.3 -6.9 -5.7 -4.6 -2.8 9

 10 Agency- and GSE-backed securities 3.8 -11.5 1.9 -0.4 6.9 -9.0 -10.7 -10.2 -8.4 -6.8 -1.2 10

 11 Municipal securities 36.1 10.6 -12.6 -21.0 -17.4 -3.4 -7.3 -6.5 -2.1 2.3 -3.1 11

 12 Corporate and foreign bonds 5.9 -15.4 30.8 24.3 40.4 16.7 12.0 13.1 18.2 23.5 -1.3 12

 13 Commercial mortgages 1.3 0.2 -0.5 -0.3 0.8 0.7 1.0 0.8 0.5 0.5 0.8 13

 14 Corporate equities 0.5 35.1 -2.4 -20.9 2.3 6.5 5.3 12.2 -1.6 10.1 6.8 14

 15 Mutual fund shares -0.5 -0.4 0.1 -0.1 -0.1 -0.1 -0.0 -0.1 -0.1 -0.1 -0.1 15

 16 Trade receivables -1.6 1.3 -3.7 0.8 3.4 4.8 15.8 3.6 9.8 -10.0 6.1 16

 17 Miscellaneous assets 17.6 6.8 14.6 -22.5 3.1 -3.9 -14.5 10.0 -1.1 -10.1 -8.1 17

 18 Net increase in liabilities 9.4 14.3 -4.3 3.0 16.9 -2.3 -19.8 -10.9 -0.0 21.4 -49.6 18

 19 Security RPs -0.7 1.9 -1.7 0.8 -1.1 0.4 0.3 0.0 0.7 0.7 1.1 19

 20 Corporate equity issues -13.2 0.4 -5.3 -12.7 -10.7 -17.2 -18.1 -11.3 -22.2 -17.3 -23.5 20

 21 Taxes payable (net) -2.4 -28.1 5.3 5.6 -4.4 3.8 26.0 -20.7 17.9 -8.1 30.2 21

 22 Miscellaneous liabilities 25.8 40.2 -2.6 9.3 33.1 10.7 -28.0 21.2 3.6 46.1 -57.3 22

 23 Discrepancy 2.8 -0.6 -24.3 68.7 18.3 -9.3 -3.5 -10.2 13.0 -36.5 22.9 23

(1) Net capital transfers paid from table F.9, line 51.

F.115 Life Insurance Companies

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Gross saving 5.1 -44.8 12.6 10.5 18.0 21.3 20.9 20.7 21.9 21.7 22.9 1

 2 Fixed nonresidential investment 14.1 14.4 14.2 12.2 13.1 14.2 14.0 14.1 14.1 14.5 14.7 2

 3 Net acquisition of financial assets 240.5 167.1 115.3 189.9 220.5 125.4 85.5 -40.5 209.5 247.0 26.0 3

 4 Checkable deposits and currency 2.3 24.4 -32.1 1.0 2.0 2.7 -3.4 12.9 -10.2 11.4 2.8 4

 5 Money market fund shares -1.6 17.5 -5.5 -12.7 7.9 -4.8 -5.7 -4.7 -4.5 -4.3 13.9 5

 6 Security RPs 0.2 5.2 2.2 0.7 -0.8 -2.7 -7.6 -1.0 -1.0 -1.0 -0.8 6

 7 Credit market instruments 84.8 11.6 139.8 151.6 123.6 69.4 146.5 -109.5 149.0 91.6 97.4 7

 8 Open market paper 13.1 -3.4 11.5 -8.9 -11.2 10.8 12.6 2.3 -0.4 28.7 11.3 8

 9 Treasury securities -17.3 35.1 27.7 23.2 10.5 4.6 7.1 -4.5 9.9 6.0 7.9 9

 10 Agency- and GSE-backed securities 5.5 -16.7 5.8 4.0 -1.2 -13.1 -5.3 -31.8 -2.5 -12.9 -9.5 10

 11 Municipal securities 4.8 5.7 26.1 39.2 9.3 9.6 12.7 1.4 14.3 10.0 3.0 11

 12 Corporate and foreign bonds 43.1 -45.5 97.6 102.9 93.4 43.8 105.9 -95.9 119.2 46.0 78.1 12

 13 Other loans and advances 13.2 20.3 -12.6 -0.2 7.9 1.8 -7.9 4.1 4.8 6.2 1.9 13

 14 Mortgages 22.4 16.3 -16.3 -8.6 15.0 11.9 21.4 14.9 3.8 7.7 4.7 14

 15 Corporate equities 84.1 81.8 33.4 45.6 37.7 15.3 6.4 16.2 20.0 18.5 18.7 15

 16 Mutual fund shares 31.3 -10.7 0.0 1.0 1.1 1.3 1.2 1.3 1.3 1.3 1.3 16

 17 Miscellaneous assets 39.5 37.2 -22.5 2.8 48.9 44.2 -51.9 44.4 55.0 129.4 -107.2 17

 18 Net increase in liabilities 198.7 166.9 30.9 168.1 201.3 90.9 68.4 -97.4 190.5 202.0 6.6 18

 19 Security RPs -1.1 -7.3 -0.5 -2.2 0.1 3.1 1.6 3.6 4.0 3.4 0.5 19

 20 Corporate equity issues -30.6 -10.7 -0.9 -4.8 -11.5 -10.4 -11.5 -11.9 -8.4 -9.7 -7.1 20

 21 Other loans and advances 14.5 26.2 -6.6 -3.2 1.8 4.8 6.6 15.7 -0.2 -3.0 5.2 21

 22 Life insurance reserves 33.0 66.0 25.4 16.4 92.8 -11.9 -10.1 -74.6 12.0 25.1 26.5 22

 23 Pension fund reserves (1) 116.7 49.1 2.6 145.3 79.7 110.0 97.0 -47.7 161.5 229.0 142.5 23

 24 Taxes payable (net) -3.4 -19.7 -7.0 2.6 5.2 -4.6 -14.8 13.9 0.9 -18.5 -0.6 24

 25 Miscellaneous liabilities 69.5 63.2 17.9 14.0 33.2 -0.0 -0.3 3.6 20.7 -24.1 -160.3 25

 26 Discrepancy -50.8 -59.4 -86.0 -23.5 -14.3 -27.4 -10.1 -50.4 -11.2 -37.7 -11.2 26

(1) Annuity reserves held by life insurance companies, excluding unallocated contracts held by private pension funds, which are included in miscellaneous liabilities (line 25).
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F.116 Private Pension Funds (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving 0.3 0.4 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 1

 2 Fixed nonresidential investment 1.0 0.8 0.6 0.5 0.5 0.6 0.6 0.6 0.6 0.6 0.6 2

 3 Net acquisition of financial assets 324.0 -107.7 26.4 156.5 165.9 25.6 -40.5 89.3 88.9 -35.3 -190.8 3

 4 Checkable deposits and currency -0.4 -3.7 -2.9 2.1 1.7 -1.3 -3.3 -1.0 -1.2 0.3 -2.9 4

 5 Time and savings deposits 13.0 -3.6 3.4 -2.3 5.6 -6.4 -12.5 -2.8 -4.0 -6.2 -9.3 5

 6 Money market fund shares 27.7 -34.9 -6.9 -10.4 6.6 -10.3 -19.5 -4.5 -7.0 -10.1 -16.5 6

 7 Security RPs 0.2 -1.0 0.2 -0.2 0.3 -0.4 -0.6 -0.2 0.6 -1.2 -0.6 7

 8 Credit market instruments 247.3 -210.5 10.3 124.8 52.5 -37.5 -89.1 16.4 -41.8 -35.4 -128.4 8

 9 Open market paper 33.4 -27.2 -1.4 -1.1 11.8 -13.1 -22.2 -2.4 -15.3 -12.4 -52.8 9

 10 Treasury securities 46.7 -39.1 35.0 33.2 34.0 44.5 56.0 42.6 47.9 31.4 18.8 10

 11 Agency- and GSE-backed securities 67.8 -63.6 -6.4 6.5 7.3 18.5 19.0 25.5 14.5 14.8 0.5 11

 12 Corporate and foreign bonds 97.3 -72.7 -14.5 83.4 -1.7 -81.1 -132.3 -45.4 -83.7 -63.2 -83.7 12

 13 Mortgages 2.1 -7.9 -2.4 2.8 1.0 -6.2 -9.7 -3.9 -5.2 -6.0 -11.2 13

 14 Corporate equities -285.6 185.6 -95.4 25.2 -15.7 78.0 204.0 -22.6 110.8 19.8 66.6 14

 15 Mutual fund shares 75.3 77.0 56.5 35.1 27.4 71.1 87.0 54.9 74.5 67.9 137.7 15

 16 Miscellaneous assets 246.6 -116.6 61.3 -17.7 87.6 -67.7 -206.5 49.2 -43.1 -70.3 -237.6 16

 17 Unallocated insurance contracts (2) 28.2 54.6 32.6 -45.5 8.0 -31.6 -51.0 5.7 -43.0 -38.1 -58.3 17

 18 Contributions receivable 44.8 -25.5 -8.4 15.4 -0.9 -4.3 -12.9 3.3 -1.4 -6.3 -23.9 18

 19 Other 173.6 -145.8 37.1 12.3 80.5 -31.8 -142.6 40.2 1.4 -26.0 -155.4 19

 20 Pension fund reserves (liabilities) (3) 324.7 -107.3 26.5 156.6 166.0 25.7 -40.4 89.4 88.9 -35.2 -190.7 20

 Memo:

 Net acquisition of financial assets (4)

 21 Defined benefit plans 63.1 -102.0 -31.3 63.3 21.8 -0.6 53.2 -37.0 56.1 -74.7 -195.3 21

 22 Defined contibution plans 260.9 -5.7 57.7 93.3 144.2 26.2 -93.7 126.3 32.8 39.4 4.4 22

(1) Private defined benefit plans and defined contribution plans (including 401(k) type plans).

(2) Assets of private pension plans held at life insurance companies (e.g., GICs, variable annuities); series begins 1985:Q4.

(3) Equal to the net acquisition of nonfinancial and financial assets less gross saving (line 2 + line 3 - line 1). These liabilities are assets of the household sector.

(4) Additional detail on defined benefit plans and defined contribution plans is available on F.116.b and F.116.c.
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F.117 State and Local Government Employee Retirement Funds

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving 0.6 0.7 0.8 0.8 0.9 0.9 0.9 0.9 0.9 0.9 0.9 1

 2 Fixed nonresidential investment 2.1 1.4 0.9 0.8 0.9 1.0 1.0 1.0 1.0 1.0 1.0 2

 3 Net acquisition of financial assets 76.9 32.4 -77.3 -48.6 -68.7 53.4 88.6 34.5 -8.1 98.7 -63.2 3

 4 Checkable deposits and currency 0.3 -0.1 0.0 0.6 0.3 -0.4 -0.4 -0.4 -0.3 -0.3 -0.4 4

 5 Time and savings deposits 3.0 0.3 1.6 6.4 2.8 -3.0 -3.1 -3.8 -2.6 -2.5 -3.4 5

 6 Money market fund shares 0.5 -5.2 -2.8 3.1 1.0 -3.6 -3.7 -4.5 -3.1 -3.0 -4.1 6

 7 Security RPs 0.1 -0.2 -0.1 0.4 0.2 -0.3 -0.3 -0.4 -0.2 -0.2 -0.3 7

 8 Credit market instruments 40.5 -26.5 -85.8 22.1 2.2 1.6 35.6 -24.3 -32.8 27.8 10.0 8

 9 Open market paper 2.8 -0.5 1.0 6.3 2.7 -3.3 -3.4 -4.1 -2.8 -2.8 -3.7 9

 10 Treasury securities -9.1 -14.3 22.0 8.0 14.5 43.4 66.5 27.2 34.7 45.3 44.8 10

 11 Agency- and GSE-backed securities -3.1 -30.6 -3.0 1.8 8.2 19.7 34.0 15.6 9.3 19.8 7.4 11

 12 Municipal securities -0.1 -0.2 0.1 0.7 1.4 2.8 2.5 3.6 2.0 3.3 2.2 12

 13 Corporate and foreign bonds 48.0 22.0 -102.3 5.7 -24.3 -59.1 -61.6 -64.6 -74.1 -36.1 -37.0 13

 14 Mortgages 2.0 -2.8 -3.7 -0.5 -0.2 -2.0 -2.3 -1.9 -1.9 -1.8 -3.6 14

 15 Corporate equities 55.4 110.3 20.5 -84.0 -69.0 53.0 60.0 59.4 24.8 67.8 -57.7 15

 16 Mutual fund shares -25.6 -27.6 -2.3 -13.2 -14.6 6.5 7.3 7.3 3.0 8.3 10.9 16

 17 Miscellaneous assets 2.7 -18.4 -8.5 16.1 8.5 -0.4 -6.8 1.1 3.0 1.0 -18.2 17

 18 Pension fund reserves (liabilities) (1) 78.4 33.0 -77.1 -48.6 -68.7 53.5 88.7 34.5 -8.0 98.8 -63.1 18

(1) Equal to the net acquisition of nonfinancial and financial assets less gross saving (line 2 + line 3 - line 1). These liabilities are assets of the household sector.

F.118 Federal Government Retirement Funds (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Net acquisition of financial assets 47.8 78.9 78.2 81.9 86.6 50.2 67.9 104.9 86.0 -57.7 174.9 1

 2 Credit market instruments 12.6 23.9 7.4 10.8 20.0 13.9 5.5 16.9 9.4 23.9 -8.7 2

 3 Treasury securities 11.3 24.7 7.4 10.0 17.9 12.3 2.5 13.1 10.1 23.5 -4.3 3

 4 Agency- and GSE-backed securities -0.2 -0.2 0.0 0.6 0.7 0.6 2.0 2.4 -2.2 0.4 -2.2 4

 5 Corporate and foreign bonds 1.5 -0.5 -0.0 0.2 1.4 1.0 1.1 1.4 1.6 0.0 -2.1 5

 6 Corporate equities 1.9 -8.4 8.8 5.4 -4.2 -4.1 6.5 -3.8 -8.4 -10.8 16.3 6

 7 Miscellaneous assets(2) 33.3 63.3 61.9 65.7 70.8 40.4 55.8 91.7 85.0 -70.9 167.3 7

 8 Pension fund reserves (liabilities) (3) 47.8 78.9 78.2 81.9 86.6 50.2 67.9 104.9 86.0 -57.7 174.9 8

(1) Includes the Thrift Savings Plan, the National Railroad Retirement Investment Trust, and nonmarketable government securities held by federal government retirement funds.

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

 retirement fund, and foreign service retirement and disability fund.

(3) Liabilities of the sector are assets of the household sector.
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F.119 Money Market Mutual Funds (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Net acquisition of financial assets 736.8 724.2 -498.7 -503.2 -112.8 7.1 -207.3 -164.5 64.2 335.9 -152.7 1

 2 Foreign deposits 34.4 -14.6 11.6 8.7 -62.9 0.4 -11.3 -28.6 28.7 12.5 21.8 2

 3 Checkable deposits and currency -4.7 5.6 10.5 -3.7 5.8 -3.6 -23.8 -1.7 -3.2 14.3 22.9 3

 4 Time and savings deposits 74.7 102.7 169.9 -107.7 -56.3 32.8 -166.8 -49.5 234.6 112.7 -86.4 4

 5 Security RPs 211.1 -63.5 -62.4 -0.6 11.1 54.2 106.3 103.1 -129.9 137.2 -223.2 5

 6 Credit market instruments 391.8 727.9 -619.9 -396.6 -9.8 -82.7 -87.2 -139.5 9.6 -113.7 104.6 6

 7 Open market paper 73.7 -56.1 -108.0 -116.3 -40.0 -13.3 34.8 19.4 -73.8 -33.8 70.6 7

 8 Treasury securities 95.5 399.5 -171.3 -71.0 107.9 14.5 218.6 -110.3 81.8 -132.3 153.1 8

 9 Agency- and GSE-backed securities 102.0 520.3 -213.1 -140.2 0.9 -60.2 -278.5 28.3 12.7 -3.2 -39.7 9

 10 Municipal securities 104.6 12.9 -69.4 -53.4 -29.4 -20.6 -53.4 -54.4 5.7 19.5 -83.5 10

 11 Corporate and foreign bonds 15.9 -148.8 -58.1 -15.7 -49.1 -3.0 -8.8 -22.6 -16.9 36.0 4.0 11

 12 Miscellaneous assets 29.4 -33.9 -8.3 -3.4 -0.8 6.1 -24.7 -48.3 -75.7 173.0 7.6 12

 13 Net share issues (liabilities) 736.8 724.2 -498.7 -503.2 -112.8 7.1 -207.3 -164.5 64.2 335.9 -152.7 13

(1) Open-end investment companies; excludes funding vehicles for variable annuities, which are included in the life insurance companies sector (table F.115).

F.120 Mutual Funds (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Gross saving 13.4 -5.7 -10.6 -6.2 -16.2 -10.3 -8.0 -11.1 -6.7 -15.4 -12.1 1

 2 Net acquisition of financial assets 361.5 -9.9 497.1 370.1 338.4 735.7 1121.9 560.7 784.2 476.1 997.5 2

 3 Security RPs -0.6 -7.4 28.6 -15.8 -28.8 98.5 390.3 45.7 52.1 -94.0 135.9 3

 4 Credit market instruments 268.0 32.4 387.1 353.6 359.4 707.6 968.1 642.8 714.7 504.7 778.2 4

 5 Open market paper -0.4 -62.5 28.6 -13.9 -26.3 93.1 327.3 47.1 101.3 -103.2 86.6 5

 6 Treasury securities 18.0 -1.2 70.0 43.2 70.8 83.8 92.2 100.0 68.4 74.6 100.1 6

 7 Agency- and GSE-backed securities 64.5 -3.7 54.0 156.1 110.0 126.2 156.6 148.0 98.7 101.5 115.2 7

 8 Municipal securities 27.7 17.7 89.4 46.7 15.7 86.2 83.1 87.0 107.2 67.4 68.2 8

 9 Corporate and foreign bonds 122.1 69.7 143.8 122.3 170.3 306.0 306.0 240.5 333.5 344.0 398.1 9

 10 Other loans and advances 36.1 12.4 1.3 -0.8 18.9 12.2 2.9 20.1 5.6 20.3 10.0 10

 11 Corporate equities 91.3 -38.1 86.5 44.3 4.9 -37.2 -75.5 -66.0 -1.5 -5.9 83.4 11

 12 Miscellaneous assets 2.8 3.2 -5.1 -12.0 2.9 -33.1 -161.0 -61.9 18.9 71.4 -0.0 12

 13 Net share issues (liabilities) 361.5 -9.9 497.1 370.1 338.4 735.7 1121.9 560.7 784.2 476.1 997.5 13

 14 Discrepancy 13.4 -5.7 -10.6 -6.2 -16.2 -10.3 -8.0 -11.1 -6.7 -15.4 -12.1 14

(1) Open-end investment companies; excludes funding vehicles for variable annuities, which are included in the life insurance companies sector (table F.115).

F.121 Closed-End and Exchange-Traded Funds

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 Closed-end funds

 1 Net acquisition of financial assets 18.4 -61.8 7.6 0.4 -2.5 2.9 -29.1 14.5 8.2 17.8 12.0 1

 2 Credit market instruments -0.4 -40.7 10.6 5.2 -1.2 11.6 11.6 6.3 13.5 14.8 30.4 2

 3 Treasury securities -1.7 -2.4 1.2 0.7 -0.3 0.3 1.1 -0.5 0.8 -0.1 2.1 3

 4 Municipal securities 1.9 -13.3 3.3 0.4 1.5 3.3 2.6 3.4 2.1 5.0 2.2 4

 5 Corporate and foreign bonds -0.5 -24.9 6.1 4.1 -2.4 8.0 7.9 3.4 10.7 10.0 26.0 5

 6 Corporate equities 18.8 -21.1 -3.0 -4.8 -1.3 -8.7 -40.7 8.2 -5.3 3.0 -18.4 6

 7 Net share issues (liabilities) 18.4 -61.8 7.6 0.4 -2.5 2.9 -29.1 14.5 8.2 17.8 12.0 7

 Exchange-traded funds

 8 Net acquisition of financial assets 150.6 177.2 116.5 118.0 117.6 185.2 212.7 100.2 207.0 221.0 207.7 8

 9 Credit market instruments 13.4 23.0 46.0 29.7 46.1 52.3 65.0 73.7 30.3 40.3 28.1 9

 10 Treasury securities 6.6 7.4 14.7 9.2 11.4 1.2 -1.7 21.1 -18.1 3.4 -2.9 10

 11 Municipal securities 0.6 1.7 3.6 1.7 1.0 3.6 4.2 3.3 2.9 4.0 2.9 11

 12 Corporate and foreign bonds 6.2 13.9 27.6 18.7 33.6 47.6 62.5 49.3 45.5 32.9 28.2 12

 13 Corporate equities 137.3 154.2 70.5 88.3 71.6 132.9 147.7 26.4 176.7 180.7 179.6 13

 14 Net share issues (liabilities) 150.6 177.2 116.5 118.0 117.6 185.2 212.7 100.2 207.0 221.0 207.7 14
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F.122 Government-Sponsored Enterprises (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving 4.8 6.7 9.7 10.6 8.9 8.7 9.1 7.6 9.8 8.0 10.7 1

 2 Fixed nonresidential investment 1.3 1.7 0.9 3.3 3.3 3.6 3.5 3.6 3.5 3.7 3.7 2

 3 Net acquisition of financial assets 301.4 233.7 -345.9 -301.4 -243.9 -209.3 -316.7 -220.6 -108.8 -191.0 -20.9 3

 4 Checkable deposits and currency -2.7 39.7 11.1 -36.0 9.3 -20.1 -120.8 41.8 -67.1 65.7 46.1 4

 5 Time and savings deposits 12.8 21.9 -42.8 0.3 -12.7 -9.1 -9.2 -5.2 -24.2 2.2 -2.7 5

 6 Federal funds and security RPs (net) 25.3 -28.2 7.6 20.6 -38.1 39.0 -18.8 126.3 144.9 -96.5 170.2 6

 7 Credit market instruments 239.0 242.9 -323.0 -315.6 -202.3 -223.2 -174.2 -327.0 -177.1 -214.3 -96.9 7

 8 Open market paper -4.7 14.1 3.0 0.2 -3.4 -3.1 -5.2 2.2 -6.3 -3.0 3.1 8

 9 Treasury securities 1.3 1.2 19.9 45.9 17.6 -31.2 18.9 -111.9 -18.7 -13.1 22.3 9

 10 Agency- and GSE-backed securities -11.1 207.0 -27.4 -85.1 -18.1 -48.3 -45.0 -21.2 -74.1 -53.0 -39.9 10

 11 Municipal securities -2.8 -2.0 -2.2 -4.2 -3.9 -4.1 -3.4 -3.3 -5.3 -4.4 31.7 11

 12 Corporate and foreign bonds -17.4 -77.7 -33.8 -16.9 -33.4 -54.6 -26.4 -107.2 -23.6 -61.2 -54.5 12

 13 Other loans and advances 237.7 38.1 -284.8 -144.7 -64.2 18.6 -23.6 85.2 -18.9 31.9 27.0 13

 14 Sallie Mae 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Farm Credit System 11.9 4.8 -0.2 7.2 -3.5 8.3 1.5 16.3 13.0 2.5 -14.6 15

 16 FHLB loans 225.8 33.3 -284.6 -151.9 -60.7 10.3 -25.1 68.8 -31.9 29.4 41.6 16

 17 Mortgages 35.9 62.2 2.4 -110.8 -96.9 -100.5 -89.4 -170.9 -30.4 -111.4 -86.6 17

 18 Home -9.7 8.8 -11.3 -119.5 -103.5 -110.4 -101.1 -171.2 -50.4 -119.0 -75.9 18

 19 Consolidated trusts (2) 0.0 0.0 0.0 -232.5 -108.9 -74.1 -38.4 -103.0 -93.2 -61.7 41.2 19

 20 Other -9.7 8.8 -11.3 113.0 5.4 -36.4 -62.7 -68.2 42.8 -57.4 -117.1 20

 21 Multifamily residential 42.3 42.5 14.2 2.0 2.8 6.2 8.3 -3.5 16.6 3.6 -14.1 21

 22 Consolidated trusts (2) 0.0 0.0 0.0 25.3 24.5 27.1 25.4 20.5 29.0 33.4 26.2 22

 23 Other 42.3 42.5 14.2 -23.3 -21.7 -20.9 -17.1 -24.0 -12.5 -29.9 -40.3 23

 24 Farm 3.3 10.9 -0.5 6.7 3.8 3.7 3.4 3.8 3.5 4.1 3.5 24

 25 Consumer credit (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 Miscellaneous assets 27.0 -42.6 1.2 29.3 -0.1 4.1 6.3 -56.4 14.7 51.8 -137.7 26

 27 Net increase in liabilities 325.6 336.4 -317.1 -263.8 -182.1 -160.5 -242.7 -176.7 -129.3 -93.3 35.1 27

 28 Credit market instruments 282.4 271.7 -475.3 -233.8 -187.2 -154.6 -274.9 -155.0 -113.2 -75.4 43.1 28

 29 GSE issues (4) 282.4 271.7 -475.3 -233.8 -187.2 -154.6 -274.9 -155.0 -113.2 -75.4 43.1 29

 30 Consolidated trusts (2) 0.0 0.0 0.0 -207.2 -84.4 -47.0 -13.0 -82.5 -64.2 -28.3 67.3 30

 31 Other 282.4 271.7 -475.3 -26.5 -102.8 -107.7 -261.9 -72.6 -49.0 -47.1 -24.2 31

 32 U.S. government loans 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 32

 33 Corporate equities 25.5 27.6 96.0 38.1 29.2 0.6 23.4 -12.5 -4.4 -4.2 7.8 33

 34 Miscellaneous liabilities 17.7 37.1 62.2 -68.1 -24.0 -6.5 8.8 -9.2 -11.7 -13.7 -15.8 34

 35 Discrepancy 27.7 107.8 37.6 44.9 67.4 53.9 79.7 48.0 -14.2 102.1 63.0 35

(1) Federal Home Loan Banks, Fannie Mae, Freddie Mac, Farmer Mac, Farm Credit System, the Financing Corporation, and the Resolution Funding Corporation. The Student Loan Marketing

 Association (Sallie Mae) was included until it was fully privatized in 2004:Q4. Beginning 2010:Q1, almost all Fannie Mae and Freddie Mac mortgage pools (table F.123) are consolidated on

 Fannie Mae’s and Freddie Mac’s balance sheets.

(2) Consolidated trusts refers to the unpaid balance of securitized mortgages Fannie Mae and Freddie Mac moved on to their balance sheets at the beginning of 2010 in response to new accounting rules.

(3) Sallie Mae student loans.

(4) Such issues are classified as agency- and GSE-backed securities.

F.123 Agency- and GSE-Backed Mortgage Pools (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Net acquisition of financial assets 623.3 497.0 415.3 186.9 165.3 132.2 159.6 136.2 94.9 138.4 166.3 1

 2 Home mortgages 622.6 492.2 402.5 175.8 148.0 105.0 140.8 102.6 74.1 102.5 137.4 2

 3 Multifamily residential mortgages -0.7 4.6 13.0 11.3 19.4 27.0 19.0 31.8 21.0 36.2 29.1 3

 4 Commercial mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Farm mortgages 1.4 0.1 -0.2 -0.2 -2.1 0.3 -0.2 1.7 -0.2 -0.3 -0.2 5

 6 Net increase in pool securities (liabilities)(2) 623.3 497.0 415.3 186.9 165.3 132.2 159.6 136.2 94.9 138.4 166.3 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.122). Also includes agency- and GSE-backed mortgage pool securities that are used as collateral for agency- and GSE-backed CMOs

 and privately issued CMOs. Excludes Federal Financing Bank holdings of pool securities, which are included with federal government mortgages and other loans.

(2) Such issues are classified as agency- and GSE-backed securities.
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F.124 Issuers of Asset-Backed Securities (ABS)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving 0.6 0.5 0.4 0.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1

 2 Fixed nonresidential investment 0.1 0.1 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Net acquisition of financial assets 351.0 -413.1 -736.6 -497.3 -248.0 -216.0 -223.4 -263.2 -251.9 -125.5 -146.7 3

 4 Treasury securities 24.7 -13.6 -18.3 -13.8 -10.9 -5.8 -13.1 -4.4 -6.6 0.8 -11.3 4

 5 Agency- and GSE-backed securities (1) 18.4 -26.6 -224.9 -95.4 -4.3 -0.5 -1.6 -0.0 -0.4 -0.1 -0.4 5

 6 Other loans and advances 88.6 37.9 -51.1 -38.9 -5.4 -0.6 18.2 -19.9 -19.3 18.5 20.5 6

 7 Mortgages (2) 183.2 -352.4 -370.2 -297.5 -218.9 -206.3 -236.8 -208.2 -219.5 -160.6 -169.6 7

 8 Home 39.8 -312.7 -323.0 -243.8 -193.2 -182.2 -181.9 -191.2 -185.3 -170.2 -150.3 8

 9 Multifamily residential 21.5 -10.8 -5.8 -8.7 -7.7 -18.7 -47.4 -9.4 -9.6 -8.4 -13.8 9

 10 Commercial 121.9 -28.9 -41.4 -45.1 -18.1 -5.5 -7.5 -7.6 -24.6 17.9 -5.5 10

 11 Consumer credit 32.8 -42.3 -37.8 -42.3 -4.2 3.7 19.1 -19.0 -2.2 16.9 18.4 11

 12 Trade credit 3.4 -16.1 -34.3 -9.5 -4.2 -6.4 -9.1 -11.6 -3.9 -1.0 -4.2 12

 13 Net increase in liabilities 350.5 -413.5 -736.9 -497.5 -248.0 -216.0 -223.4 -263.2 -251.9 -125.5 -146.7 13

 14 Commercial paper -194.2 -83.9 -266.2 -40.3 -24.1 -9.0 12.4 -31.8 32.8 -49.5 4.3 14

 15 Corporate bonds (net) (3) 544.8 -329.7 -470.7 -457.2 -223.9 -207.0 -235.8 -231.3 -284.7 -76.1 -151.0 15

 16 Discrepancy 0.0 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) -0.5 -0.4 -0.4 -0.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 REIT assets (5) -17.9 -46.7 -25.3 0.4 -3.1 -4.6 1.1 -20.1 8.7 -7.9 2.5 18

(1) Agency- and GSE-backed mortgage pool securities backing privately issued CMOs.

(2) Mortgages backing privately issued pool securities and privately issued CMOs.

(3) Net issuance less net acquisition of corporate bonds held as assets.

(4) Receivables from operating leases, such as consumer automobile leases, are booked as current income when payments are received and are not included in financial assets (or household liabilities).

 The leased automobile is a nonfinancial asset; depreciation flows are included in line 1, and fixed investment flows are included in line 2.

(5) Included in table F.126.

F.125 Finance Companies (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Gross saving 76.0 88.4 90.8 65.5 72.2 58.5 62.6 54.7 69.0 47.8 64.0 1

 2 Fixed nonresidential investment 61.9 42.5 14.0 30.7 42.9 46.2 45.6 46.1 45.9 47.3 47.9 2

 3 Net acquisition of financial assets 19.9 -59.5 -189.2 -175.6 -19.6 -70.5 -45.9 -144.6 -59.5 -31.9 -43.2 3

 4 Checkable deposits and currency 0.4 0.3 0.5 -1.7 4.9 -3.4 -1.5 -9.8 8.0 -10.4 4.8 4

 5 Time and savings deposits 1.2 0.8 1.6 -5.0 14.7 -10.2 -4.5 -29.4 24.0 -31.1 14.5 5

 6 Credit market instruments 7.1 -81.9 -217.6 -104.5 -45.8 -28.1 -54.9 -38.3 -40.6 21.3 -52.2 6

 7 Corporate and foreign bonds 4.5 3.0 6.3 -20.0 0.9 -6.3 -0.4 8.0 -6.3 -26.4 -2.8 7

 8 Other loans and advances 24.9 16.9 -91.0 -15.2 2.4 11.8 -16.6 9.0 10.8 43.8 0.1 8

 9 Mortgages -62.5 -84.0 -50.5 -55.9 -32.1 -26.4 -32.9 -31.3 -20.7 -20.6 -38.3 9

 10 Consumer credit 40.2 -17.9 -82.4 -13.4 -17.0 -7.2 -5.0 -24.0 -24.3 24.5 -11.2 10

 11 Miscellaneous assets 11.2 21.4 26.3 -64.4 6.7 -28.7 15.0 -67.1 -51.0 -11.7 -10.4 11

 12 Net increase in liabilities 26.5 -69.1 -250.2 -188.0 -27.1 -82.3 -51.5 -150.1 -62.9 -64.7 -54.0 12

 13 Credit market instruments 34.9 -79.4 -156.2 -174.9 -12.8 -53.7 -25.0 -122.9 81.6 -148.7 -55.2 13

 14 Open market paper -15.1 -22.6 -38.8 1.7 10.0 8.2 25.6 -10.7 15.7 2.1 -12.2 14

 15 Corporate bonds -2.8 -49.6 -87.0 -111.7 -38.6 -78.4 -33.6 -86.1 -10.2 -183.5 -20.5 15

 16 Depository institution loans n.e.c. 52.8 -7.1 -30.4 -64.9 15.9 16.4 -17.0 -26.0 76.0 32.8 -22.5 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 0.0 17

 18 Taxes payable -1.5 -0.1 -2.8 0.3 0.4 0.1 1.2 -0.8 -0.6 0.6 1.5 18

 19 Miscellaneous liabilities -6.9 10.4 -91.2 -13.4 -14.7 -28.6 -27.7 -26.5 -143.8 83.4 -0.4 19

 20 Foreign direct investment in U.S. -5.6 12.2 12.8 18.0 10.2 0.9 4.5 0.3 -1.6 0.4 -2.9 20

 21 Investment by parent -13.4 -8.4 -32.6 -15.9 -12.1 -0.9 -26.9 -24.6 -2.4 50.1 -10.0 21

 22 Other 12.0 6.5 -71.5 -15.5 -12.8 -28.6 -5.3 -2.2 -139.9 32.9 12.5 22

 23 Discrepancy 20.7 36.3 15.7 22.3 21.8 0.5 11.5 3.0 19.7 -32.4 5.3 23

 Memo:

 24 Consumer leases not included above (2) 16.9 -11.8 -25.7 -16.5 7.9 24.3 17.9 22.8 29.1 27.5 22.7 24

(1) Includes retail captive finance companies and mortgage companies.

(2) See footnote (4), table F.124.
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F.126 Real Estate Investment Trusts (REITs)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving -18.0 -11.6 7.3 -0.4 -6.4 -12.4 -6.4 -5.7 -15.9 -21.4 -20.2 1

 2 Fixed nonresidential investment 11.2 6.0 3.8 2.9 2.8 3.2 3.1 3.2 3.2 3.3 3.3 2

 3 Multifamily residential investment -9.3 0.1 -0.1 4.7 6.3 5.3 4.9 6.4 5.1 4.9 4.9 3

 4 Net acquisition of financial assets -26.1 -67.9 -9.3 41.8 118.3 157.7 266.9 101.9 292.4 -30.2 14.1 4

 5 Checkable deposits and currency -1.8 1.8 7.9 -2.8 2.1 7.5 16.8 -3.1 14.9 1.5 22.4 5

 6 Credit market instruments -19.9 -68.9 -8.7 37.1 102.9 127.7 215.8 90.3 263.9 -59.3 -39.9 6

 7 Agency- and GSE-backed securities 23.5 0.7 15.5 38.2 101.4 111.5 207.0 71.2 244.8 -77.1 -50.4 7

 8 Corporate and foreign bonds -30.2 -22.8 3.8 5.3 1.3 10.1 13.9 8.0 12.2 6.2 11.2 8

 9 Mortgages -13.2 -46.9 -28.0 -6.3 0.2 6.1 -5.0 11.1 7.0 11.6 -0.8 9

 10 Home -23.5 -46.4 -21.7 -3.7 -0.7 5.5 1.8 12.3 2.4 5.4 4.8 10

 11 Multifamily residential 0.2 -0.9 -2.0 -0.4 -0.2 0.1 -0.0 0.2 0.0 0.4 1.2 11

 12 Commercial 10.1 0.4 -4.3 -2.3 1.1 0.5 -6.8 -1.4 4.6 5.8 -6.7 12

 13 Miscellaneous assets -4.4 -0.8 -8.5 7.4 13.3 22.5 34.3 14.7 13.6 27.5 31.7 13

 14 Net increase in liabilities 25.7 -56.1 -28.5 71.0 169.0 210.8 321.6 137.6 336.4 47.7 65.4 14

 15 Security RPs -6.2 -12.3 11.1 30.0 94.9 103.4 173.4 88.7 156.3 -4.8 2.3 15

 16 Credit market instruments 10.2 -53.8 -50.0 -2.1 28.2 42.9 26.6 57.3 27.4 60.4 16.0 16

 17 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Corporate bonds 0.7 -60.3 -41.3 -0.1 15.5 26.1 30.0 24.9 18.7 30.6 12.8 18

 19 Depository institution loans n.e.c. 4.8 -0.3 -12.1 -2.2 3.6 1.2 -13.9 7.6 -3.5 14.8 -19.4 19

 20 Mortgages 4.7 6.8 3.4 0.2 9.1 15.6 10.4 24.9 12.2 14.9 22.7 20

 21 Corporate equity issues 17.1 12.8 24.2 28.2 37.5 47.6 59.5 31.1 62.7 37.1 64.2 21

 22 Miscellaneous liabilities 4.6 -2.7 -13.8 14.9 8.5 17.0 62.2 -39.5 90.0 -44.9 -17.1 22

 23 Discrepancy 31.9 -5.8 -15.6 21.2 35.3 32.2 40.3 20.4 19.8 48.4 22.9 23

 Memo:

 24 Securitized assets included above -17.9 -46.7 -25.3 0.4 -3.1 -4.6 1.1 -20.1 8.7 -7.9 2.5 24

 25 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 0.0 25

 26 Home mortgages -20.2 -40.6 -25.7 1.1 -0.7 3.6 2.6 0.3 8.8 2.6 1.7 26

 27 Multifamily residential mortgages -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.1 0.0 -0.0 0.1 27

 28 Commercial mortgages 2.4 -6.1 0.4 -0.7 -2.3 -8.1 -1.5 -20.4 -0.1 -10.5 0.7 28
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F.127 Security Brokers and Dealers

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving -21.3 -98.4 37.6 25.0 19.6 21.5 19.9 25.8 20.3 20.0 18.2 1

 2 Fixed nonresidential investment 25.7 21.3 25.3 18.2 18.8 20.4 20.1 20.3 20.2 20.9 21.1 2

 3 Net acquisition of financial assets 350.3 -874.8 -133.0 -9.1 -125.4 118.6 646.6 -69.4 22.3 -125.1 111.1 3

 4 Checkable deposits and currency 24.5 15.1 -29.4 6.2 14.9 16.3 22.1 -48.7 33.2 58.8 -75.6 4

 5 Credit market instruments 219.7 -85.7 -192.1 32.2 5.7 89.1 227.1 -35.4 21.5 143.3 -171.5 5

 6 Open market paper 22.8 -21.4 -24.2 -5.3 5.9 -12.2 6.3 -36.1 -5.9 -13.1 -0.1 6

 7 Treasury securities 7.1 250.6 -67.6 -28.5 89.1 63.0 117.8 -4.8 23.0 115.9 -139.6 7

 8 Agency- and GSE-backed securities 152.2 -47.5 -131.8 38.9 -2.1 21.9 3.7 84.6 -17.2 16.4 -62.8 8

 9 Municipal securities -0.7 -11.4 -3.3 4.6 -9.1 -4.3 15.1 -14.1 -8.6 -9.6 17.6 9

 10 Corporate and foreign bonds 27.3 -259.0 47.5 35.2 -85.0 35.5 179.1 -74.1 33.9 3.1 4.4 10

 11 Other loans and advances 11.1 3.1 -12.7 -12.7 6.9 -14.8 -94.9 8.9 -3.8 30.6 9.0 11

 12 Corporate equities 25.4 -28.5 -4.6 -18.5 -5.0 9.7 12.1 11.8 31.6 -16.8 -96.9 12

 13 Security credit 33.4 -160.7 38.1 75.2 -39.3 64.9 115.4 -93.1 98.7 138.4 9.9 13

 14 Miscellaneous assets 47.3 -615.1 54.9 -104.2 -101.7 -61.4 269.9 96.1 -162.8 -448.8 445.3 14

 15 Net increase in liabilities 392.4 -683.2 -206.7 -25.0 -92.0 63.6 466.2 -36.5 -31.4 -143.9 55.1 15

 16 Security RPs (net) 75.5 -560.3 -57.5 -66.2 -189.4 -15.1 221.3 -143.8 -163.6 25.6 12.8 16

 17 Credit market instruments -4.0 77.7 -49.7 36.9 -37.9 -1.7 24.8 16.5 -65.2 17.3 -4.3 17

 18 Corporate bonds -4.0 32.3 -4.2 36.9 -37.9 -1.7 24.8 16.5 -65.2 17.3 -4.3 18

 19 Depository institution loans n.e.c. (1) 0.0 45.5 -45.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 Corporate equity issues 32.3 120.2 -32.4 -11.1 14.1 -50.7 -181.4 25.1 -26.8 -19.9 -46.0 20

 21 Trade payables -2.4 -24.7 48.9 -52.0 -3.8 -0.0 12.2 -15.3 -2.0 5.0 4.5 21

 22 Security credit 243.0 -237.3 -134.0 48.4 137.1 124.0 60.8 248.1 150.6 36.4 -152.5 22

 23 Customer credit balances (HH) 210.8 -123.8 -74.1 25.7 58.1 23.6 39.6 61.5 10.1 -16.6 2.2 23

 24 From U.S.-chartered depository institutions 29.3 12.8 -59.2 -5.8 37.3 42.3 -39.4 75.8 128.1 4.7 -135.7 24

 25 From foreign banking offices in U.S. 3.0 -126.3 -0.8 28.5 41.6 58.0 60.6 110.8 12.4 48.3 -19.0 25

 26 Taxes payable -0.6 0.3 3.2 -2.1 -1.1 0.5 1.8 -0.6 3.3 -2.4 5.3 26

 27 Miscellaneous liabilities 46.2 -70.7 18.4 20.7 -9.0 0.2 297.7 -171.9 76.1 -201.0 248.3 27

 28 Foreign direct investment in U.S. 9.0 55.8 2.1 11.7 10.4 7.9 8.6 3.3 7.5 12.3 12.9 28

 29 Investment by funding corporations 16.4 104.6 -166.8 -52.5 40.6 68.7 262.4 -113.2 65.1 60.3 -23.6 29

 30 Other 20.8 -231.1 183.1 61.5 -60.1 -76.4 26.7 -62.1 3.4 -273.6 259.1 30

 31 Proprietors’ net investment 2.4 11.5 -3.6 0.4 -2.0 6.4 29.1 5.5 -3.9 -4.9 -13.0 31

 32 Discrepancy -4.9 72.0 -61.5 -9.2 34.3 -53.8 -180.5 38.5 -53.6 -19.7 -58.9 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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F.128 Holding Companies (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving 109.8 80.5 96.8 106.5 142.0 173.0 180.5 141.7 132.4 237.6 126.7 1

 2 Fixed nonresidential investment 39.5 52.2 53.3 43.6 45.8 49.6 48.8 49.4 49.2 50.8 51.3 2

 3 Net acquisition of financial assets 203.3 289.1 87.3 -4.6 44.6 -40.2 26.7 -212.6 -88.6 113.8 381.7 3

 4 Time and savings deposits -0.7 -0.1 -3.9 -1.3 2.4 3.1 -3.5 33.7 0.5 -18.2 -13.6 4

 5 Federal funds and security RPs -2.6 -6.6 19.8 2.1 0.2 -48.3 -201.3 0.2 0.6 7.4 -0.9 5

 6 Credit market instruments 23.2 13.9 -16.0 22.1 3.1 -39.8 64.1 -158.2 -28.1 -36.9 26.0 6

 7 Treasury securities 4.6 -4.0 2.7 13.8 7.1 -29.8 9.6 -120.1 4.5 -13.2 6.4 7

 8 Agency- and GSE-backed securities -1.3 15.9 -7.0 -3.2 12.0 -22.1 -14.4 -77.5 -1.9 5.6 15.5 8

 9 Corporate and foreign bonds 19.2 -0.0 -8.4 7.3 -20.1 -4.7 -9.6 38.9 -32.2 -15.7 1.5 9

 10 Other loans and advances 0.7 2.0 -3.2 4.3 4.0 16.7 78.5 0.5 1.5 -13.6 2.6 10

 11 Life insurance reserves 5.3 -1.2 2.1 3.8 2.4 7.3 24.5 4.3 5.8 -5.3 10.0 11

 12 Miscellaneous assets 178.2 283.1 85.4 -31.2 36.5 37.4 142.9 -92.6 -67.4 166.8 360.0 12

 13 Net trans. with depository institution subs. 114.0 113.6 166.8 33.4 76.1 101.2 22.3 174.2 136.6 71.8 110.5 13

 14 Net trans. with property-casualty ins. co. subs. 0.0 0.0 0.0 0.0 0.0 4.3 0.0 10.2 5.3 1.8 -22.9 14

 15 Net trans. with life insurance company subs. 5.3 -12.5 9.3 22.2 9.3 9.9 -2.1 27.7 13.5 0.7 0.8 15

 16 Net trans. with finance company subs. 41.5 -7.3 -23.3 -38.1 -20.6 -0.5 -15.5 -14.2 -1.4 29.0 -5.8 16

 17 Net trans. with broker and dealer subs. -57.5 98.2 -173.1 -25.7 -12.8 49.6 255.6 -113.9 4.9 52.0 -84.4 17

 18 Net trans. with foreign subs. 42.2 -9.1 23.5 10.6 30.6 -51.5 77.3 -77.8 -48.7 -156.9 89.8 18

 19 Other 32.7 100.1 82.3 -33.6 -46.2 -75.6 -194.8 -98.8 -177.6 168.6 272.0 19

 20 Net increase in liabilities 128.1 247.9 34.8 -64.6 -50.0 -164.3 -105.5 -305.4 -171.9 -74.3 305.2 20

 21 Federal funds and security RPs -2.5 -7.0 -0.2 0.2 0.4 -1.2 -0.4 -0.3 0.5 -4.5 -0.1 21

 22 Credit market instruments 151.9 97.3 -8.0 -16.5 -16.5 -97.7 12.3 -360.2 26.2 -69.3 -24.4 22

 23 Commercial paper 35.0 -39.0 -18.1 3.9 11.1 6.2 -16.2 -0.7 31.9 9.5 5.2 23

 24 Corporate bonds 94.4 123.0 7.8 -46.5 -91.6 16.3 110.1 -124.4 16.7 62.7 -45.9 24

 25 Depository institution loans n.e.c. 22.5 13.3 2.3 26.1 64.0 -120.2 -81.6 -235.1 -22.4 -141.4 16.3 25

 26 Corporate equity issues -28.0 321.4 68.6 19.8 2.9 0.6 12.7 -14.8 36.5 -31.8 -7.0 26

 27 Miscellaneous liabilities 6.8 -163.8 -25.6 -68.2 -36.8 -66.0 -130.1 69.8 -235.1 31.3 336.8 27

 28 Equity, etc. -55.1 63.0 35.6 -22.4 6.9 -13.9 54.6 51.7 -6.1 -155.9 68.6 28

 29 Other 61.9 -226.8 -61.2 -45.8 -43.8 -52.1 -184.6 18.1 -229.0 187.2 268.1 29

 30 Discrepancy -4.9 -12.9 -8.9 2.8 1.5 -0.6 -0.5 -0.6 -0.1 -1.3 -1.1 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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F.129 Funding Corporations (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Net acquisition of financial assets 312.4 1041.8 -422.9 -156.9 -101.4 62.0 -233.4 -34.5 42.8 473.2 22.0 1

 2 Money market fund shares 297.6 299.7 -154.7 -142.0 -74.7 -3.0 -148.5 -161.1 47.3 250.5 -137.5 2

 3 Security RPs 0.0 0.0 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -0.5 3

 4 Credit market instruments -102.8 700.1 -226.2 42.2 -20.0 57.8 -157.4 228.9 -22.4 182.0 31.5 4

 5 Open market paper -219.1 187.7 -260.0 -8.2 -50.6 -65.2 -356.4 3.4 -9.5 101.5 -2.1 5

 6 Corporate and foreign bonds 109.6 497.3 43.6 51.9 32.6 129.6 224.0 228.5 -10.8 76.6 22.6 6

 7 Other loans and advances 6.7 15.1 -9.8 -1.5 -2.0 -6.6 -25.0 -3.0 -2.1 3.9 11.0 7

 8 Corporate equities (2) 0.0 0.0 25.1 1.3 -26.4 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Miscellaneous assets 117.6 42.1 -67.2 -58.4 19.6 7.2 72.5 -102.3 17.9 40.7 128.5 9

 10 Investment in foreign banking offices 43.7 35.6 -73.5 -31.5 -33.7 -11.8 65.7 -103.0 -42.3 32.3 67.7 10

 11 Investment in brokers and dealers 73.9 6.4 6.3 -26.9 53.4 19.0 6.8 0.7 60.2 8.4 60.8 11

 12 Net increase in liabilities 312.4 1041.8 -422.9 -156.9 -101.4 62.0 -233.4 -34.5 42.8 473.2 22.0 12

 13 Credit market instruments 114.5 466.4 -434.8 -65.3 -52.4 -23.8 6.2 -15.1 20.7 -107.1 112.3 13

 14 Open market paper 62.9 20.1 -125.1 -47.4 -72.7 -30.8 37.0 17.6 -66.9 -110.9 77.3 14

 15 Corporate bonds 51.5 1.4 37.9 -3.2 71.6 35.3 8.9 17.2 98.9 16.3 38.0 15

 16 Depository institution loans n.e.c. (3) 0.0 444.9 -349.6 -21.9 -51.9 -21.5 -38.3 -47.6 0.0 0.0 0.0 16

 17 Other loans and advances (4) 0.0 0.0 2.0 7.2 0.7 -6.8 -1.4 -2.2 -11.3 -12.5 -3.0 17

 18 Corporate equities (5) 0.0 40.0 30.5 3.5 -18.4 -8.6 -34.5 0.0 0.0 0.0 0.0 18

 19 Miscellaneous liabilities 197.9 535.4 -18.5 -95.0 -30.6 94.5 -205.1 -19.4 22.0 580.3 -90.3 19

 20 Foreign direct investment in U.S. 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 20

 21 Securities loaned (net) -2.1 -353.2 -30.2 -123.5 -74.6 -79.2 -28.9 219.8 -198.4 -309.3 189.1 21

 22 Equity interest under PPIP 0.0 0.0 2.4 7.9 1.4 0.1 0.2 0.0 0.0 0.0 0.0 22

 23 Other (net) 199.4 888.0 8.7 20.0 42.0 173.0 -177.0 -239.9 219.9 888.9 -280.0 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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F.200 U.S. Official Reserve Assets and SDR Allocations (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Net change in liabilities 0.1 4.8 99.9 1.8 15.9 4.5 4.9 13.2 3.3 -3.6 -3.0 1

 2 Federal government: SDR allocations 0.0 0.0 47.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Rest of the world 0.1 4.8 52.3 1.8 15.9 4.5 4.9 13.2 3.3 -3.6 -3.0 3

 4 SDR holdings 0.2 0.1 48.2 0.0 -1.8 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Reserve position in IMF (net) -1.0 3.5 3.4 1.3 18.1 4.0 4.3 12.7 3.0 -3.9 -3.2 5

 6 Foreign currency holdings 1.0 1.3 0.7 0.5 -0.5 0.4 0.6 0.4 0.3 0.3 0.1 6

 7 Net change in assets 0.1 4.8 99.9 1.8 15.9 4.5 4.9 13.2 3.3 -3.6 -3.0 7

 8 Federal government -0.4 4.2 51.9 1.6 16.2 4.3 4.6 13.0 3.1 -3.7 -3.0 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 0.0 9

 10 SDR holdings 0.2 0.1 48.2 0.0 -1.8 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Reserve position in IMF (net) -1.0 3.5 3.4 1.3 18.2 4.0 4.3 12.8 2.9 -3.9 -3.1 11

 12 Foreign currency holdings 0.5 0.6 0.3 0.3 -0.2 0.2 0.3 0.2 0.2 0.1 0.1 12

 13 Rest of the world 0.0 0.0 47.6 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 0.0 14

 15 SDR allocations 0.0 0.0 47.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Monetary authority 0.5 0.6 0.3 0.3 -0.3 0.2 0.3 0.2 0.2 0.1 0.0 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 0.0 17

 18 Reserve position in IMF (net) 0.0 -0.0 0.0 0.0 -0.1 0.0 0.0 -0.0 0.1 -0.0 -0.1 18

 19 Foreign currency holdings 0.5 0.6 0.3 0.3 -0.2 0.2 0.3 0.2 0.2 0.1 0.1 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; quarterly figures are seasonally adjusted annual rates

 SDR certificates:

 1 Liab: Federal government 0.0 0.0 3.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1

 2 Asset: Monetary authority 0.0 0.0 3.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 Treasury currency:

 3 Liab: Federal government -0.7 -0.8 -0.4 -0.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Asset: Monetary authority 0.5 -0.0 4.0 0.9 0.7 0.6 0.8 0.5 0.5 0.5 0.9 4

 5 Discrepancy (seigniorage) -1.2 -0.8 -4.4 -1.1 -0.7 -0.6 -0.8 -0.5 -0.5 -0.5 -0.9 5

F.202 U.S. Deposits in Foreign Countries

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Total rest of the world liability 256.0 -394.3 -106.0 25.9 -32.4 -42.0 -124.3 -134.6 165.1 -74.2 126.6 1

 Held by:

 2 Household sector 15.4 -23.7 -6.4 1.6 -1.9 -2.5 -7.5 -8.1 9.9 -4.5 10.6 2

 3 Nonfinancial corporate business 0.9 -25.5 6.8 9.1 -5.8 -21.7 -50.8 -45.7 -1.7 11.6 -6.6 3

 4 Money market mutual funds 34.4 -14.6 11.6 8.7 -62.9 0.4 -11.3 -28.6 28.7 12.5 21.8 4

 5 Discrepancy--unallocated assets 205.3 -330.4 -118.1 6.5 38.3 -18.2 -54.8 -52.3 128.2 -93.9 100.9 5
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F.203 Net Interbank Transactions

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Net change in liabilities -53.4 1823.0 -590.9 -132.9 844.5 -211.3 142.7 -461.9 -249.2 -276.9 1885.9 1

 2 Monetary authority 5.4 842.0 114.2 -11.1 602.3 -64.1 -58.5 -179.5 -260.7 242.2 1169.9 2

 3 U.S.-chartered depository institutions 130.9 746.9 -534.3 -213.0 -229.4 -125.6 198.9 -379.7 -55.0 -266.7 449.5 3

 4 Foreign banking offices in U.S. -191.1 240.4 -158.9 48.2 496.5 -11.7 -40.7 169.0 106.7 -281.8 273.3 4

 5 Banks in U.S.-affiliated areas 0.3 -0.6 -1.0 0.9 -1.2 -0.4 0.5 -0.6 -2.9 1.5 1.1 5

 6 Credit unions 1.1 -5.7 -10.9 42.2 -23.7 -9.5 42.4 -71.1 -37.3 27.9 -7.8 6

 7 Net change in assets -57.2 1762.3 -619.9 -155.0 824.2 -217.9 76.5 -170.9 -452.0 -325.3 1699.2 7

 8 Rest of the world -111.4 410.8 -270.4 -48.2 221.1 -153.8 136.1 8.2 -191.9 -567.8 530.0 8

 9 Monetary authority 48.9 509.6 -463.7 -95.7 0.8 0.0 -1.1 0.3 0.6 0.3 -0.7 9

 10 U.S.-chartered depository institutions 5.0 599.3 50.9 -91.9 232.9 2.5 23.4 -174.9 -159.7 321.4 764.0 10

 11 Foreign banking offices in U.S. 0.4 238.0 45.1 66.7 360.2 -72.2 -127.3 34.6 -68.9 -127.2 410.1 11

 12 Credit unions 0.0 4.7 18.1 14.1 9.2 5.6 45.4 -39.1 -32.1 48.1 -4.2 12

 13 Discrepancy 3.8 60.7 29.1 22.1 20.3 6.6 66.2 -291.0 202.8 48.4 186.7 13

 Memo:

 Vault cash:

 14 Liab.: Monetary authority 3.3 2.7 -2.8 -2.2 8.1 7.1 -9.2 -7.7 5.8 39.5 -27.4 14

 15 Asset: U.S.-chartered depository institutions 3.3 2.7 -2.8 -2.2 8.1 7.1 -9.2 -7.7 5.8 39.5 -27.4 15

 Depository institution reserves:

 16 Liab.: Monetary authority 2.1 839.2 117.0 -8.9 594.2 -71.2 -49.3 -171.8 -266.5 202.7 1197.2 16

 17 Asset: U.S.-chartered depository institutions 1.7 596.6 53.7 -89.7 224.8 -4.6 32.7 -167.2 -165.5 281.9 791.3 17

 18 Foreign banking offices in U.S. 0.4 238.0 45.1 66.7 360.2 -72.2 -127.3 34.6 -68.9 -127.2 410.1 18

 19 Credit unions 0.0 4.7 18.1 14.1 9.2 5.6 45.4 -39.1 -32.1 48.1 -4.2 19

 Other transactions with the monetary authority

 20 Liab: U.S.-chartered depository institutions 48.9 509.6 -463.7 -95.7 0.8 0.0 -1.1 0.3 0.6 0.3 -0.7 20

 21 Asset: Monetary authority 48.9 509.6 -463.7 -95.7 0.8 0.0 -1.1 0.3 0.6 0.3 -0.7 21

 22 Federal Reserve float 0.3 -1.5 -0.6 0.7 0.8 0.1 -0.4 0.0 0.4 0.5 -0.4 22

 23 Loans 48.6 511.1 -463.1 -96.4 -0.0 -0.1 -0.8 0.3 0.2 -0.2 -0.2 23

 Transactions with banks in foreign countries (net):

 24 Liab.: U.S.-chartered depository institutions (net) 63.9 172.6 -109.3 -83.3 -290.0 -99.5 142.7 -132.8 -110.0 -297.8 310.6 24

 25 Due to foreign affiliates 64.2 131.5 -21.3 22.7 -218.3 -186.6 -153.8 -172.0 -101.6 -319.2 122.2 25

 26 - Due from foreign affiliates 0.3 -41.1 88.0 106.0 71.7 -87.2 -296.5 -39.2 8.4 -21.5 -188.4 26

 27 Foreign banking offices in U.S. (net) -168.8 244.3 -171.2 43.9 508.2 -56.3 -13.9 137.1 -86.8 -261.6 215.1 27

 28 Due to foreign affiliates 4.5 7.4 2.5 96.7 193.5 -22.3 187.5 -128.4 8.9 -157.0 125.0 28

 29 - Due from foreign affiliates 173.3 -236.9 173.7 52.7 -314.6 34.0 201.4 -265.5 95.7 104.5 -90.1 29

 30 Less: Deposits at foreign banks 6.6 6.2 -10.1 8.8 -3.0 -1.9 -7.3 -3.9 -4.9 8.5 -4.3 30

 31 U.S.-chartered depository institutions 6.0 6.6 -15.2 5.7 -1.5 -3.1 -12.3 2.2 -6.6 4.6 1.2 31

 32 Foreign banking offices in U.S. 0.6 -0.4 5.1 3.1 -1.5 1.2 5.1 -6.1 1.8 3.9 -5.5 32

 33 Asset: Rest of the world (1) -111.4 410.8 -270.4 -48.2 221.1 -153.8 136.1 8.2 -191.9 -567.8 530.0 33

 Transactions between U.S. depository institutions (net) (2):

 34 U.S.-chartered depository institutions (net) 24.1 71.3 23.5 -28.2 58.3 -29.3 45.0 -245.1 47.7 35.4 140.8 34

 35 Due to (3): 17.7 19.7 18.7 -22.7 45.2 20.2 29.7 -226.2 253.8 23.2 149.3 35

 36 Foreign banking offices in U.S. 15.4 -47.3 -22.2 -1.7 -0.0 3.7 6.5 -6.9 10.9 4.2 -44.1 36

 37 Banks in U.S.-affiliated areas -0.3 0.6 1.0 -0.9 1.2 0.4 -0.5 0.6 2.9 -1.5 -1.1 37

 38 Credit unions -1.1 5.7 10.9 -42.2 23.7 9.5 -42.4 71.1 37.3 -27.9 7.8 38

 39 - Due from: Foreign banking offices in U.S. -6.3 -51.6 -4.7 5.6 -13.1 49.4 -15.2 18.9 206.1 -12.1 8.5 39

 40 Unallocated (2) 3.8 60.7 29.1 22.1 20.3 6.6 66.2 -291.0 202.8 48.4 186.7 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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F.204 Checkable Deposits and Currency

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Net change in liabilities 36.7 568.4 -7.9 266.3 234.5 268.5 -73.4 313.3 228.0 606.1 297.4 1

 2 Monetary authority 17.8 428.2 -117.6 185.0 -122.1 62.1 -166.0 244.0 50.4 120.1 -4.9 2

 3 Federal government cash and deposits 11.4 349.3 -173.8 149.0 -255.0 7.0 -167.7 195.2 -24.1 24.5 -52.3 3

 4 Due to government-sponsored enterprises 0.9 19.4 14.0 -21.6 51.1 -37.4 -111.0 -27.7 -29.2 18.3 -28.1 4

 5 Deposits due to foreign -0.0 1.3 1.0 0.9 -3.2 6.3 0.0 5.8 16.2 3.2 11.0 5

 6 Currency outside banks 5.5 58.2 41.2 56.7 85.0 86.2 112.6 70.7 87.5 74.2 64.5 6

 7 U.S.-chartered depository institutions 13.5 137.9 94.0 69.6 319.4 176.9 53.1 45.6 166.3 442.6 255.3 7

 8 Federal government deposits 14.9 -39.5 0.3 -0.1 -2.7 0.3 -0.2 1.6 -0.7 0.5 -0.8 8

 9 Deposits due to foreign 5.0 31.2 -28.7 -3.8 25.6 -4.2 -13.5 -4.6 4.6 -3.4 -22.8 9

 10 Private domestic deposits -6.3 146.2 122.4 73.5 296.5 180.8 66.8 48.6 162.4 445.5 278.8 10

 11 Foreign banking offices in U.S. 2.6 1.7 2.6 5.7 23.7 16.2 -5.1 18.4 19.9 31.7 7.5 11

 12 Deposits due to foreign 0.3 2.4 5.8 4.1 4.4 8.9 -0.3 7.5 7.4 21.2 2.5 12

 13 Private domestic deposits 2.3 -0.7 -3.2 1.7 19.3 7.3 -4.9 10.9 12.5 10.5 5.0 13

 14 Banks in U.S.-affiliated areas 1.7 -1.1 1.4 0.5 2.8 2.5 0.7 11.0 -5.5 3.9 -0.3 14

 15 Credit unions 1.1 1.6 11.6 5.5 10.7 10.7 43.9 -5.7 -3.1 7.8 39.9 15

 16 Net change in assets 36.7 568.4 -7.9 266.3 234.5 268.5 -73.4 313.3 228.0 606.1 297.4 16

 17 Household sector -73.7 245.0 28.6 55.7 316.6 140.6 123.9 -5.8 33.2 411.0 117.3 17

 18 Nonfinancial business 59.3 -125.2 162.7 57.0 43.7 50.4 16.0 103.0 145.3 -62.7 219.3 18

 19 Corporate -7.6 -129.0 142.3 75.1 37.3 43.8 12.1 98.5 142.0 -77.5 214.7 19

 20 Noncorporate 66.9 3.8 20.4 -18.0 6.5 6.6 3.9 4.5 3.3 14.8 4.6 20

 21 State and local governments -0.2 8.5 19.2 5.6 16.7 -8.7 -8.8 -8.0 -6.6 -11.6 12.8 21

 22 Federal government 25.1 313.1 -174.2 148.9 -257.6 6.7 -121.6 96.5 -27.4 79.2 -8.1 22

 23 Rest of the world -5.4 64.0 -9.2 29.5 81.8 68.2 58.5 37.1 92.8 84.2 10.6 23

 24 Checkable deposits 5.2 34.8 -21.8 1.2 26.8 11.0 -13.8 8.7 28.2 21.0 -9.3 24

 25 Currency -10.7 29.2 12.6 28.3 55.0 57.1 72.2 28.5 64.6 63.2 19.8 25

 26 Financial sectors 30.5 68.2 -34.7 -29.3 32.5 10.2 -93.9 -9.6 -11.2 155.3 -3.1 26

 27 Property-casualty insurance companies 12.8 -14.8 -0.3 5.0 -8.5 12.3 20.2 0.5 14.6 13.9 -23.2 27

 28 Life insurance companies 2.3 24.4 -32.1 1.0 2.0 2.7 -3.4 12.9 -10.2 11.4 2.8 28

 29 Private pension funds -0.4 -3.7 -2.9 2.1 1.7 -1.3 -3.3 -1.0 -1.2 0.3 -2.9 29

 30 State and local govt. retirement funds 0.3 -0.1 0.0 0.6 0.3 -0.4 -0.4 -0.4 -0.3 -0.3 -0.4 30

 31 Money market mutual funds -4.7 5.6 10.5 -3.7 5.8 -3.6 -23.8 -1.7 -3.2 14.3 22.9 31

 32 Government-sponsored enterprises -2.7 39.7 11.1 -36.0 9.3 -20.1 -120.8 41.8 -67.1 65.7 46.1 32

 33 Finance companies 0.4 0.3 0.5 -1.7 4.9 -3.4 -1.5 -9.8 8.0 -10.4 4.8 33

 34 REITs -1.8 1.8 7.9 -2.8 2.1 7.5 16.8 -3.1 14.9 1.5 22.4 34

 35 Brokers and dealers 24.5 15.1 -29.4 6.2 14.9 16.3 22.1 -48.7 33.2 58.8 -75.6 35

 36 Mail float 1.0 -5.2 -0.3 -1.1 0.8 1.3 -47.4 100.0 1.8 -49.4 -51.5 36
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F.205 Time and Savings Deposits

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Net change in liabilities 599.9 334.2 375.4 116.1 372.8 516.1 291.4 468.6 439.9 864.5 26.3 1

 2 Small time and savings deposits 316.4 524.8 517.2 298.3 577.4 539.7 378.9 473.4 584.4 721.9 87.5 2

 3 U.S.-chartered depository institutions 282.7 480.6 472.3 271.7 537.1 491.6 299.5 416.7 541.5 708.5 33.8 3

 4 Foreign banking offices in U.S. 6.9 0.1 4.4 5.8 13.2 13.8 36.0 16.8 1.2 1.2 20.7 4

 5 Banks in U.S.-affiliated areas 1.1 1.1 -2.9 -5.2 -0.4 -0.1 -0.8 3.4 -4.1 1.2 0.6 5

 6 Credit unions 25.8 43.0 43.4 26.1 27.4 34.4 44.2 36.5 45.9 11.0 32.4 6

 7 Large time deposits (1) 283.4 -190.6 -141.8 -182.3 -204.6 -23.6 -87.5 -4.8 -144.5 142.5 -61.1 7

 8 U.S.-chartered depository institutions 4.1 -69.0 -329.8 -130.2 -35.3 -4.8 25.4 104.1 -153.5 4.6 -107.8 8

 9 Foreign banking offices in U.S. 273.4 -123.2 173.9 -49.6 -172.4 -24.8 -119.2 -114.7 6.7 127.9 39.0 9

 10 Banks in U.S.-affiliated areas 1.1 1.1 -2.9 -5.2 -0.4 -0.1 -0.8 3.4 -4.1 1.2 0.6 10

 11 Credit unions 4.8 0.5 17.0 2.8 3.4 6.2 7.2 2.4 6.4 8.8 7.0 11

 12 Net change in assets 599.9 334.2 375.4 116.1 372.8 516.1 291.4 468.6 439.9 864.5 26.3 12

 13 Household sector 462.0 189.9 177.0 152.7 350.3 407.7 454.6 452.2 43.3 680.8 173.7 13

 14 Nonfinancial business -40.7 -60.7 102.1 62.8 17.9 33.0 66.8 -16.4 79.4 2.1 17.5 14

 15 Corporate -55.7 -59.4 106.9 59.9 14.3 28.4 64.2 -19.4 77.2 -8.3 14.4 15

 16 Noncorporate 14.9 -1.2 -4.8 2.9 3.6 4.6 2.6 3.0 2.2 10.4 3.1 16

 17 State and local governments 33.3 18.8 9.3 -6.9 15.3 22.0 3.0 34.9 42.7 7.3 6.3 17

 18 Federal government 1.2 -1.3 0.3 0.1 -0.3 0.2 0.5 1.4 -1.0 -0.2 -1.7 18

 19 Rest of the world 40.3 65.5 -43.1 16.9 33.1 46.1 -33.8 53.4 47.1 117.5 -68.6 19

 20 Financial sectors 104.0 121.9 129.8 -109.6 -43.5 7.2 -199.6 -57.0 228.4 56.9 -100.9 20

 21 Private pension funds 13.0 -3.6 3.4 -2.3 5.6 -6.4 -12.5 -2.8 -4.0 -6.2 -9.3 21

 22 State and local govt. retirement funds 3.0 0.3 1.6 6.4 2.8 -3.0 -3.1 -3.8 -2.6 -2.5 -3.4 22

 23 Money market mutual funds 74.7 102.7 169.9 -107.7 -56.3 32.8 -166.8 -49.5 234.6 112.7 -86.4 23

 24 Government-sponsored enterprises 12.8 21.9 -42.8 0.3 -12.7 -9.1 -9.2 -5.2 -24.2 2.2 -2.7 24

 25 Finance companies 1.2 0.8 1.6 -5.0 14.7 -10.2 -4.5 -29.4 24.0 -31.1 14.5 25

 26 Holding companies -0.7 -0.1 -3.9 -1.3 2.4 3.1 -3.5 33.7 0.5 -18.2 -13.6 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; quarterly figures are seasonally adjusted annual rates

 1 Net issues 736.8 724.2 -498.7 -503.2 -112.8 7.1 -207.3 -164.5 64.2 335.9 -152.7 1

 2 Net purchases 736.8 724.2 -498.7 -503.2 -112.8 7.1 -207.3 -164.5 64.2 335.9 -152.7 2

 3 Household sector 239.9 235.1 -268.6 -183.5 10.7 0.3 -9.6 -6.5 -7.0 24.4 28.6 3

 4 Nonfinancial corporate business 127.2 178.5 -71.4 -157.7 -35.4 -4.1 -68.9 -46.7 27.9 71.3 -39.2 4

 5 Nonfinancial noncorporate business 2.2 1.0 -1.7 3.1 0.8 1.0 0.6 0.7 0.5 2.2 0.7 5

 6 State and local governments 17.3 -3.3 8.9 7.9 -3.3 -7.0 -3.9 -4.5 -6.3 -13.3 1.3 6

 7 Rest of the world 19.0 23.7 7.2 -7.1 -20.8 34.8 48.6 63.8 12.6 14.2 4.1 7

 8 Property-casualty insurance companies 7.2 12.1 -3.2 -4.0 -5.6 3.8 3.5 3.7 3.8 4.0 -4.0 8

 9 Life insurance companies -1.6 17.5 -5.5 -12.7 7.9 -4.8 -5.7 -4.7 -4.5 -4.3 13.9 9

 10 Private pension funds 27.7 -34.9 -6.9 -10.4 6.6 -10.3 -19.5 -4.5 -7.0 -10.1 -16.5 10

 11 State and local govt. retirement funds 0.5 -5.2 -2.8 3.1 1.0 -3.6 -3.7 -4.5 -3.1 -3.0 -4.1 11

 12 Funding corporations 297.6 299.7 -154.7 -142.0 -74.7 -3.0 -148.5 -161.1 47.3 250.5 -137.5 12
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F.207 Federal Funds and Security Repurchase Agreements

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Net change in liabilities -0.1 -888.0 232.0 -197.1 -133.4 -14.0 200.0 -105.8 -189.6 39.3 -130.9 1

 2 Monetary authority 14.4 44.4 -10.6 -18.0 40.2 7.3 -12.9 -44.8 29.1 57.8 -6.9 2

 3 Private depository institutions (net) -79.5 -347.2 291.3 -141.8 -78.6 -112.0 -183.4 -9.2 -216.5 -38.8 -140.6 3

 4 U.S.-chartered depository institutions (net) -68.4 -255.8 253.5 -194.9 -112.9 -138.2 -191.8 -37.4 -187.9 -135.5 -108.6 4

 5 Foreign banking offices in U.S. (net) -13.6 -96.3 40.3 52.9 50.2 20.0 20.3 1.4 -42.9 101.0 -39.8 5

 6 Credit unions (net) 2.6 4.8 -2.4 0.1 -15.9 6.2 -11.8 26.8 14.3 -4.3 7.8 6

 7 Property-casualty insurance companies -0.7 1.9 -1.7 0.8 -1.1 0.4 0.3 0.0 0.7 0.7 1.1 7

 8 Life insurance companies -1.1 -7.3 -0.5 -2.2 0.1 3.1 1.6 3.6 4.0 3.4 0.5 8

 9 REITs -6.2 -12.3 11.1 30.0 94.9 103.4 173.4 88.7 156.3 -4.8 2.3 9

 10 Brokers and dealers (net) 75.5 -560.3 -57.5 -66.2 -189.4 -15.1 221.3 -143.8 -163.6 25.6 12.8 10

 11 Holding companies -2.5 -7.0 -0.2 0.2 0.4 -1.2 -0.4 -0.3 0.5 -4.5 -0.1 11

 12 Net change in assets 204.9 -297.9 -233.4 -120.5 -14.7 92.6 115.7 134.0 127.6 -7.1 382.7 12

 13 Nonfinancial corporate business -7.5 -0.9 0.7 4.3 0.5 -2.3 4.0 1.2 -10.4 -3.8 10.5 13

 14 State and local governments 6.4 -15.7 -3.8 -5.1 -8.3 -5.5 -3.1 -3.6 -5.0 -10.5 1.1 14

 15 Rest of the world (net) -35.2 -214.0 -146.4 -126.1 51.2 -39.9 -153.3 -137.4 75.9 55.4 291.6 15

 16 Monetary authority 5.8 33.5 -80.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Property-casualty insurance companies 1.7 0.8 0.1 -0.7 -2.1 0.1 0.1 0.1 0.1 0.1 -0.3 17

 18 Life insurance companies 0.2 5.2 2.2 0.7 -0.8 -2.7 -7.6 -1.0 -1.0 -1.0 -0.8 18

 19 Private pension funds 0.2 -1.0 0.2 -0.2 0.3 -0.4 -0.6 -0.2 0.6 -1.2 -0.6 19

 20 State and local govt. retirement funds 0.1 -0.2 -0.1 0.4 0.2 -0.3 -0.3 -0.4 -0.2 -0.2 -0.3 20

 21 Money market mutual funds 211.1 -63.5 -62.4 -0.6 11.1 54.2 106.3 103.1 -129.9 137.2 -223.2 21

 22 Mutual funds -0.6 -7.4 28.6 -15.8 -28.8 98.5 390.3 45.7 52.1 -94.0 135.9 22

 23 Government-sponsored enterprises (net) 25.3 -28.2 7.6 20.6 -38.1 39.0 -18.8 126.3 144.9 -96.5 170.2 23

 24 Holding companies -2.6 -6.6 19.8 2.1 0.2 -48.3 -201.3 0.2 0.6 7.4 -0.9 24

 25 Funding corporations 0.0 0.0 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -0.5 25

 26 Discrepancy--unallocated assets -205.0 -590.0 465.4 -76.7 -118.7 -106.6 84.2 -239.8 -317.2 46.4 -513.7 26
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F.208 Open Market Paper

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Total net issues, all types -169.5 -188.8 -461.8 -80.4 -88.3 -17.0 18.8 -59.7 10.0 -36.8 159.9 1

 2 Commercial paper -169.4 -188.8 -461.9 -79.9 -88.2 -16.9 18.9 -59.7 10.0 -36.8 159.9 2

 3 Nonfinancial corporate business 11.3 7.7 -73.1 24.5 33.4 14.2 -7.8 29.2 -35.3 70.6 20.0 3

 4 Foreign issues in U.S. -69.3 -71.0 59.4 -2.7 -53.5 27.6 32.9 -54.2 77.3 54.4 117.6 4

 5 Nonfinancial 2.0 20.7 -15.2 -3.8 -0.5 10.3 -26.4 -1.8 34.9 34.3 -44.5 5

 6 Financial -71.3 -91.7 74.5 1.1 -53.0 17.3 59.3 -52.4 42.4 20.1 162.0 6

 7 Financial sectors -111.4 -125.4 -448.2 -101.7 -68.1 -58.6 -6.2 -34.7 -31.9 -161.8 22.4 7

 8 U.S.-chartered depository institutions 0.0 0.0 0.0 -19.7 7.7 -33.1 -65.0 -9.0 -45.3 -13.0 -52.3 8

 9 ABS issuers -194.2 -83.9 -266.2 -40.3 -24.1 -9.0 12.4 -31.8 32.8 -49.5 4.3 9

 10 Finance companies -15.1 -22.6 -38.8 1.7 10.0 8.2 25.6 -10.7 15.7 2.1 -12.2 10

 11 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Holding companies 35.0 -39.0 -18.1 3.9 11.1 6.2 -16.2 -0.7 31.9 9.5 5.2 12

 13 Funding corporations 62.9 20.1 -125.1 -47.4 -72.7 -30.8 37.0 17.6 -66.9 -110.9 77.3 13

 14 Bankers’ acceptances (1) -0.1 0.0 0.1 -0.5 -0.1 -0.1 -0.1 -0.0 -0.1 0.0 -0.0 14

 15 U.S.-chartered depository institutions -0.1 0.2 0.1 -0.5 -0.1 -0.1 -0.1 -0.0 -0.1 0.0 -0.0 15

 16 Foreign banking offices in U.S. 0.0 -0.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Net purchases, by sector -169.5 -188.8 -461.8 -80.4 -88.3 -17.0 18.8 -59.7 10.0 -36.8 159.9 17

 18 Household sector -10.2 -101.3 28.7 -2.9 -2.6 -0.5 3.0 -3.9 -0.6 -0.6 5.9 18

 19 Nonfinancial corporate business -53.2 -12.2 -1.3 12.0 0.1 -6.3 -19.3 -25.0 24.6 -5.4 6.3 19

 20 State and local governments -15.8 -81.9 -73.2 60.2 23.9 -6.0 -3.4 -3.9 -5.4 -11.3 1.1 20

 21 Rest of the world -8.3 -45.1 -41.4 -0.5 0.7 3.4 46.2 -57.5 5.2 19.9 35.0 21

 22 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 U.S.-chartered depository institutions (1) 0.0 15.7 -15.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 Foreign banking offices in U.S. (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 Credit unions -0.5 -0.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 Property-casualty insurance companies -3.1 5.8 -9.3 -1.9 0.9 -1.3 -1.4 -1.3 -1.3 -1.2 -1.2 26

 27 Life insurance companies 13.1 -3.4 11.5 -8.9 -11.2 10.8 12.6 2.3 -0.4 28.7 11.3 27

 28 Private pension funds 33.4 -27.2 -1.4 -1.1 11.8 -13.1 -22.2 -2.4 -15.3 -12.4 -52.8 28

 29 State and local govt. retirement funds 2.8 -0.5 1.0 6.3 2.7 -3.3 -3.4 -4.1 -2.8 -2.8 -3.7 29

 30 Money market mutual funds 73.7 -56.1 -108.0 -116.3 -40.0 -13.3 34.8 19.4 -73.8 -33.8 70.6 30

 31 Mutual funds -0.4 -62.5 28.6 -13.9 -26.3 93.1 327.3 47.1 101.3 -103.2 86.6 31

 32 Government-sponsored enterprises -4.7 14.1 3.0 0.2 -3.4 -3.1 -5.2 2.2 -6.3 -3.0 3.1 32

 33 Brokers and dealers 22.8 -21.4 -24.2 -5.3 5.9 -12.2 6.3 -36.1 -5.9 -13.1 -0.1 33

 34 Funding corporations -219.1 187.7 -260.0 -8.2 -50.6 -65.2 -356.4 3.4 -9.5 101.5 -2.1 34

(1) Excludes banks’ holdings of own acceptances.
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F.209 Treasury Securities

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Net issues 237.5 1239.0 1443.7 1579.6 1066.8 1140.6 1431.5 1182.8 690.5 1257.5 1198.6 1

 2 Savings bonds -6.0 -2.4 -2.8 -3.3 -2.7 -2.8 -1.5 -2.4 -2.2 -4.9 -2.7 2

 3 Treasury bills 58.8 861.6 -73.3 -19.0 -249.5 107.0 612.6 -312.7 74.4 53.8 646.7 3

 4 Other Treasury securities 184.7 379.8 1519.8 1601.8 1319.0 1036.3 820.4 1497.9 618.3 1208.6 554.6 4

 5 Net purchases 237.5 1239.0 1443.7 1579.6 1066.8 1140.6 1431.5 1182.8 690.5 1257.5 1198.6 5

 6 Household sector -81.0 251.4 499.7 415.5 -256.9 370.5 263.7 748.7 -136.5 606.3 -133.9 6

 7 Savings bonds -6.0 -2.4 -2.8 -3.3 -2.7 -2.8 -1.5 -2.4 -2.2 -4.9 -2.7 7

 8 Bills and other Treasury securities -75.0 253.8 502.5 418.7 -254.2 373.3 265.2 751.1 -134.3 611.2 -131.2 8

 9 Nonfinancial corporate business -7.1 -7.9 12.5 5.1 -4.8 15.0 19.1 44.7 17.8 -21.7 -6.7 9

 10 Nonfinancial noncorporate business 3.0 -7.5 -5.7 1.9 0.5 0.6 0.4 0.4 0.3 1.4 0.4 10

 11 State and local governments 36.4 -61.5 21.0 -7.9 -53.4 -7.9 -10.9 25.8 -6.4 -40.2 -18.1 11

 12 Rest of the world 165.3 711.6 554.4 739.8 412.1 478.4 464.0 445.3 622.7 381.6 654.5 12

 13 Treasury bills 49.4 455.3 -7.6 -40.2 -62.0 13.2 -31.4 11.6 117.3 -44.9 267.3 13

 14 Other Treasury securities 115.9 256.3 562.0 780.0 474.1 465.2 495.4 433.7 505.4 426.5 387.2 14

 15 Monetary authority -38.3 -264.7 300.7 244.9 642.0 2.7 46.3 -18.6 -78.8 61.8 575.2 15

 16 Treasury bills -49.2 -209.4 0.0 0.0 0.0 -18.4 0.0 0.0 -73.7 0.0 0.0 16

 17 Other Treasury securities 10.9 -55.3 300.7 244.9 642.0 21.1 46.3 -18.6 -5.1 61.8 575.2 17

 18 U.S.-chartered depository institutions 5.6 -23.7 68.1 93.0 -43.7 69.3 25.7 138.2 -28.5 142.0 -83.9 18

 19 Foreign banking offices in U.S. 3.6 5.1 22.0 3.5 -0.5 16.1 44.5 -42.6 65.3 -2.7 11.8 19

 20 Banks in U.S.-affiliated areas -1.9 -0.6 -0.7 0.6 -0.0 -0.6 -0.7 1.9 -1.5 -2.1 -0.1 20

 21 Credit unions 3.0 -1.6 5.4 5.9 -2.5 1.7 11.0 -1.7 4.0 -6.5 4.9 21

 22 Property-casualty insurance companies -38.7 -5.6 22.9 3.2 4.6 -6.1 -7.3 -6.9 -5.7 -4.6 -2.8 22

 23 Treasury bills -18.0 -5.4 5.0 -0.3 1.9 -2.6 -2.7 -2.6 -2.5 -2.4 31.8 23

 24 Other Treasury securities -20.7 -0.3 18.0 3.5 2.7 -3.6 -4.6 -4.3 -3.2 -2.2 -34.5 24

 25 Life insurance companies -17.3 35.1 27.7 23.2 10.5 4.6 7.1 -4.5 9.9 6.0 7.9 25

 26 Treasury bills -2.4 17.8 -6.3 -3.6 3.8 -5.7 -7.1 -5.9 -5.2 -4.6 4.8 26

 27 Other Treasury securities -14.9 17.3 34.0 26.8 6.7 10.3 14.2 1.5 15.1 10.6 3.1 27

 28 Private pension funds 46.7 -39.1 35.0 33.2 34.0 44.5 56.0 42.6 47.9 31.4 18.8 28

 29 State and local govt. retirement funds -9.1 -14.3 22.0 8.0 14.5 43.4 66.5 27.2 34.7 45.3 44.8 29

 30 Federal government retirement funds 11.3 24.7 7.4 10.0 17.9 12.3 2.5 13.1 10.1 23.5 -4.3 30

 31 Money market mutual funds 95.5 399.5 -171.3 -71.0 107.9 14.5 218.6 -110.3 81.8 -132.3 153.1 31

 32 Treasury bills 73.6 341.9 -160.2 -84.0 29.1 19.1 146.3 -178.9 40.3 68.9 27.5 32

 33 Other Treasury securities 21.9 57.7 -11.0 13.0 78.8 -4.7 72.3 68.6 41.5 -201.2 125.6 33

 34 Mutual funds 18.0 -1.2 70.0 43.2 70.8 83.8 92.2 100.0 68.4 74.6 100.1 34

 35 Closed-end funds -1.7 -2.4 1.2 0.7 -0.3 0.3 1.1 -0.5 0.8 -0.1 2.1 35

 36 Exchange-traded funds 6.6 7.4 14.7 9.2 11.4 1.2 -1.7 21.1 -18.1 3.4 -2.9 36

 37 Government-sponsored enterprises 1.3 1.2 19.9 45.9 17.6 -31.2 18.9 -111.9 -18.7 -13.1 22.3 37

 38 ABS issuers 24.7 -13.6 -18.3 -13.8 -10.9 -5.8 -13.1 -4.4 -6.6 0.8 -11.3 38

 39 Brokers and dealers 7.1 250.6 -67.6 -28.5 89.1 63.0 117.8 -4.8 23.0 115.9 -139.6 39

 40 Holding companies 4.6 -4.0 2.7 13.8 7.1 -29.8 9.6 -120.1 4.5 -13.2 6.4 40

 Memo:

 41 Federal government borrowing (1) 237.1 1239.2 1443.9 1580.2 1067.9 1140.2 1428.1 1182.9 690.2 1259.4 1197.6 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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48 Z.1, June 6, 2013

F.210 Agency- and GSE-Backed Securities (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Net issues 905.3 768.9 -59.9 -46.2 -20.8 -22.8 -118.7 -18.7 -18.6 64.9 208.4 1

 2 Budget agencies -0.4 0.2 0.1 0.7 1.1 -0.4 -3.3 0.1 -0.3 1.9 -1.0 2

 3 Government-sponsored enterprises 282.4 271.7 -475.3 -233.8 -187.2 -154.6 -274.9 -155.0 -113.2 -75.4 43.1 3

 4 Agency- and GSE-backed mortgage pools 623.3 497.0 415.3 186.9 165.3 132.2 159.6 136.2 94.9 138.4 166.3 4

 5 Net purchases 905.3 768.9 -59.9 -46.2 -20.8 -22.8 -118.7 -18.7 -18.6 64.9 208.4 5

 6 Household sector 308.8 276.6 -633.6 -44.7 12.6 -246.5 -268.1 -163.7 -279.1 -275.3 -287.8 6

 7 Nonfinancial corporate business -2.4 -2.6 4.2 1.7 -1.6 -0.0 6.4 4.9 5.9 -17.2 -22.2 7

 8 State and local governments 43.9 -36.1 -31.1 -15.3 -47.0 -22.9 -43.1 -15.1 -5.0 -28.3 20.5 8

 9 Federal government 0.0 54.4 142.0 -47.2 -118.1 -31.1 -118.5 -5.8 0.0 0.0 0.0 9

 10 Rest of the world 248.8 -228.6 -226.0 -72.3 -24.2 21.1 -21.8 -28.0 87.1 47.1 -165.5 10

 11 Monetary authority 0.0 19.7 1048.5 71.4 -197.9 61.8 -33.6 52.9 -112.4 340.2 559.7 11

 12 U.S.-chartered depository institutions -111.0 136.2 168.0 110.1 106.9 35.5 260.2 -123.2 17.2 -12.0 163.2 12

 13 Foreign banking offices in U.S. 2.0 -6.5 -19.3 -4.8 4.0 1.5 -6.1 12.9 -8.3 7.6 -17.5 13

 14 Banks in U.S.-affiliated areas -2.7 -2.0 -3.9 -7.7 -8.0 -2.2 1.2 -1.2 -3.3 -5.5 -0.7 14

 15 Credit unions -4.1 14.4 27.8 40.9 30.6 14.9 38.0 12.7 6.1 2.7 26.2 15

 16 Property-casualty insurance companies 3.8 -11.5 1.9 -0.4 6.9 -9.0 -10.7 -10.2 -8.4 -6.8 -1.2 16

 17 Life insurance companies 5.5 -16.7 5.8 4.0 -1.2 -13.1 -5.3 -31.8 -2.5 -12.9 -9.5 17

 18 Private pension funds 67.8 -63.6 -6.4 6.5 7.3 18.5 19.0 25.5 14.5 14.8 0.5 18

 19 State and local govt. retirement funds -3.1 -30.6 -3.0 1.8 8.2 19.7 34.0 15.6 9.3 19.8 7.4 19

 20 Federal government retirement funds -0.2 -0.2 0.0 0.6 0.7 0.6 2.0 2.4 -2.2 0.4 -2.2 20

 21 Money market mutual funds 102.0 520.3 -213.1 -140.2 0.9 -60.2 -278.5 28.3 12.7 -3.2 -39.7 21

 22 Mutual funds 64.5 -3.7 54.0 156.1 110.0 126.2 156.6 148.0 98.7 101.5 115.2 22

 23 Government-sponsored enterprises -11.1 207.0 -27.4 -85.1 -18.1 -48.3 -45.0 -21.2 -74.1 -53.0 -39.9 23

 24 ABS issuers 18.4 -26.6 -224.9 -95.4 -4.3 -0.5 -1.6 -0.0 -0.4 -0.1 -0.4 24

 25 REITs 23.5 0.7 15.5 38.2 101.4 111.5 207.0 71.2 244.8 -77.1 -50.4 25

 26 Brokers and dealers 152.2 -47.5 -131.8 38.9 -2.1 21.9 3.7 84.6 -17.2 16.4 -62.8 26

 27 Holding companies -1.3 15.9 -7.0 -3.2 12.0 -22.1 -14.4 -77.5 -1.9 5.6 15.5 27

(1) Agency- and GSE-backed securities include: issues of federal budget agencies (line 2) such as those for the TVA; issues of government-sponsored enterprises (line 3) such as Fannie Mae and FHLB;

 and agency- and GSE-backed mortgage pool securities issued by GNMA, Fannie Mae, Freddie Mac, and the Farmers Home Administration (line 4). Only the budget agency issues are considered

 officially to be part of the total borrowing of the federal government, which is shown in table F.209, line 35.
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F.211 Municipal Securities and Loans

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Net change in liabilities 235.5 92.4 155.3 99.7 -52.8 -4.9 2.8 109.7 -6.8 -125.4 56.7 1

 2 State and local governments 146.0 17.1 112.2 68.7 -53.6 -5.7 -1.6 92.0 -2.4 -110.7 53.9 2

 3 Short-term (1) 16.8 4.6 7.8 -0.7 -10.6 3.8 -3.4 36.3 15.2 -32.9 -9.4 3

 4 Long-term 129.2 12.5 104.4 69.3 -42.9 -9.4 1.9 55.7 -17.6 -77.8 63.3 4

 5 Nonprofit organizations (2) 21.1 9.3 5.9 -2.2 -7.8 -14.5 -6.5 -17.5 -15.4 -18.5 -6.5 5

 Nonfinancial corporate business

 6 (industrial revenue bonds) 68.4 66.0 37.2 33.2 8.5 15.2 10.9 35.2 11.0 3.8 9.3 6

 7 Net change in assets 235.5 92.4 155.3 99.7 -52.8 -4.9 2.8 109.7 -6.8 -125.4 56.7 7

 8 Household sector 38.0 47.9 107.1 44.3 -65.6 -151.2 -123.9 23.5 -243.4 -261.2 -16.8 8

 9 Nonfinancial corporate business 1.1 -3.0 0.9 -3.2 -1.4 12.6 13.2 -3.7 17.7 23.3 -18.9 9

 10 Nonfinancial noncorporate business -0.5 -0.4 0.2 0.5 0.1 0.1 0.0 0.0 0.0 0.2 0.0 10

 11 State and local governments 1.6 -0.1 0.9 0.8 -0.2 -0.6 -0.3 -0.4 -0.5 -1.1 0.1 11

 12 Rest of the world 10.7 5.9 7.7 13.1 -1.4 -4.9 5.0 -6.0 10.4 -28.9 -6.9 12

 13 U.S.-chartered depository institutions 11.9 19.9 2.4 30.3 42.6 65.8 46.8 81.5 90.7 44.2 53.3 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 0.0 14

 15 Banks in U.S.-affiliated areas 0.7 0.5 0.9 -0.9 0.9 -0.8 -0.1 -2.6 0.1 -0.7 0.2 15

 16 Credit unions 0.0 0.0 0.0 0.0 3.2 1.0 5.9 -3.2 -0.2 1.5 4.5 16

 17 Property-casualty insurance companies 36.1 10.6 -12.6 -21.0 -17.4 -3.4 -7.3 -6.5 -2.1 2.3 -3.1 17

 18 Life insurance companies 4.8 5.7 26.1 39.2 9.3 9.6 12.7 1.4 14.3 10.0 3.0 18

 19 State and local govt. retirement funds -0.1 -0.2 0.1 0.7 1.4 2.8 2.5 3.6 2.0 3.3 2.2 19

 20 Money market mutual funds 104.6 12.9 -69.4 -53.4 -29.4 -20.6 -53.4 -54.4 5.7 19.5 -83.5 20

 21 Mutual funds 27.7 17.7 89.4 46.7 15.7 86.2 83.1 87.0 107.2 67.4 68.2 21

 22 Closed-end funds 1.9 -13.3 3.3 0.4 1.5 3.3 2.6 3.4 2.1 5.0 2.2 22

 23 Exchange-traded funds 0.6 1.7 3.6 1.7 1.0 3.6 4.2 3.3 2.9 4.0 2.9 23

 24 Government-sponsored enterprises -2.8 -2.0 -2.2 -4.2 -3.9 -4.1 -3.4 -3.3 -5.3 -4.4 31.7 24

 25 Brokers and dealers -0.7 -11.4 -3.3 4.6 -9.1 -4.3 15.1 -14.1 -8.6 -9.6 17.6 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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50 Z.1, June 6, 2013

F.212 Corporate and Foreign Bonds

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Net issues 1251.2 -216.3 -10.9 -76.6 142.6 363.0 404.4 -118.1 343.1 822.7 685.9 1

 2 Nonfinancial corporate business 323.0 225.4 411.7 438.6 410.8 579.6 523.2 426.0 587.1 782.0 570.2 2

 3 Rest of the world (1) 218.7 -158.8 163.3 59.9 57.8 -8.5 -73.6 -109.9 -0.0 149.5 294.3 3

 4 Financial sectors 709.5 -282.9 -585.9 -575.1 -325.9 -208.0 -45.1 -434.2 -244.0 -108.9 -178.6 4

 5 U.S.-chartered depository institutions 24.8 0.1 -28.5 6.7 -21.0 1.3 50.4 -50.9 -18.2 23.7 -7.6 5

 6 ABS issuers (net) (2) 544.8 -329.7 -470.7 -457.2 -223.9 -207.0 -235.8 -231.3 -284.7 -76.1 -151.0 6

 7 Finance companies -2.8 -49.6 -87.0 -111.7 -38.6 -78.4 -33.6 -86.1 -10.2 -183.5 -20.5 7

 8 REITs 0.7 -60.3 -41.3 -0.1 15.5 26.1 30.0 24.9 18.7 30.6 12.8 8

 9 Brokers and dealers -4.0 32.3 -4.2 36.9 -37.9 -1.7 24.8 16.5 -65.2 17.3 -4.3 9

 10 Holding companies 94.4 123.0 7.8 -46.5 -91.6 16.3 110.1 -124.4 16.7 62.7 -45.9 10

 11 Funding corporations 51.5 1.4 37.9 -3.2 71.6 35.3 8.9 17.2 98.9 16.3 38.0 11

 12 Net purchases (3) 1251.2 -216.3 -10.9 -76.6 142.6 363.0 404.4 -118.1 343.1 822.7 685.9 12

 13 Household sector 127.7 -81.1 58.7 -323.5 53.1 25.6 -53.9 -127.7 -47.2 331.4 215.3 13

 14 State and local governments 14.2 -11.4 3.0 1.7 -6.9 -7.5 -4.2 -4.8 -6.7 -14.2 1.4 14

 15 Federal government 0.0 0.0 0.6 0.3 -0.1 -0.2 -0.1 -0.0 -0.4 -0.1 -0.2 15

 16 Rest of the world (4) 424.6 -21.8 -127.3 -37.0 -68.3 -38.8 -63.2 -153.5 -14.3 75.8 162.4 16

 17 MBS and other ABS 134.3 -101.4 -168.7 -45.5 -44.8 -36.1 -46.6 -25.3 -49.3 -23.0 -21.0 17

 18 Other 290.3 79.5 41.4 8.6 -23.6 -2.8 -16.5 -128.2 34.9 98.8 183.5 18

 19 U.S.-chartered depository institutions 151.2 -64.1 25.9 -98.8 3.0 -1.2 -78.3 -13.9 55.4 32.2 -14.7 19

 20 MBS and other ABS 115.3 -69.1 -47.7 -88.1 -24.8 -1.0 -52.0 57.9 -1.7 -8.3 -11.1 20

 21 Other 35.8 5.0 73.7 -10.7 27.8 -0.1 -26.3 -71.8 57.0 40.5 -3.5 21

 22 Foreign banking offices in U.S. 77.0 32.1 -156.7 -11.0 0.6 -5.8 -72.2 0.7 29.0 19.4 -73.2 22

 23 Banks in U.S.-affiliated areas 0.1 0.0 1.5 -1.4 3.6 1.0 0.5 -0.8 2.0 2.4 1.6 23

 24 Credit unions 3.9 -8.4 -6.7 -15.7 -0.3 0.3 2.4 0.5 -1.6 0.1 0.5 24

 25 MBS and other ABS 0.0 0.5 0.3 -0.7 -0.3 0.7 2.7 0.8 -1.1 0.5 0.5 25

 26 Other 3.9 -8.9 -7.0 -15.0 -0.1 -0.4 -0.3 -0.3 -0.5 -0.5 0.0 26

 27 Property-casualty insurance companies 5.9 -15.4 30.8 24.3 40.4 16.7 12.0 13.1 18.2 23.5 -1.3 27

 28 MBS and other ABS 0.0 0.0 0.0 0.0 -0.6 2.7 2.7 2.7 2.7 2.7 2.5 28

 29 Other 5.9 -15.4 30.8 24.3 41.1 14.0 9.4 10.4 15.4 20.7 -3.8 29

 30 Life insurance companies 43.1 -45.5 97.6 102.9 93.4 43.8 105.9 -95.9 119.2 46.0 78.1 30

 31 MBS and other ABS 0.0 0.0 0.0 0.0 0.0 -24.3 -30.3 -22.6 -22.3 -22.0 9.6 31

 32 Other 43.1 -45.5 97.6 102.9 93.4 68.1 136.2 -73.3 141.5 68.0 68.5 32

 33 Private pension funds 97.3 -72.7 -14.5 83.4 -1.7 -81.1 -132.3 -45.4 -83.7 -63.2 -83.7 33

 34 State and local govt. retirement funds 48.0 22.0 -102.3 5.7 -24.3 -59.1 -61.6 -64.6 -74.1 -36.1 -37.0 34

 35 Federal government retirement funds 1.5 -0.5 -0.0 0.2 1.4 1.0 1.1 1.4 1.6 0.0 -2.1 35

 36 Money market mutual funds 15.9 -148.8 -58.1 -15.7 -49.1 -3.0 -8.8 -22.6 -16.9 36.0 4.0 36

 37 Mutual funds 122.1 69.7 143.8 122.3 170.3 306.0 306.0 240.5 333.5 344.0 398.1 37

 38 Closed-end funds -0.5 -24.9 6.1 4.1 -2.4 8.0 7.9 3.4 10.7 10.0 26.0 38

 39 Exchange-traded funds 6.2 13.9 27.6 18.7 33.6 47.6 62.5 49.3 45.5 32.9 28.2 39

 40 Government-sponsored enterprises -17.4 -77.7 -33.8 -16.9 -33.4 -54.6 -26.4 -107.2 -23.6 -61.2 -54.5 40

 41 MBS and other ABS -20.1 -64.4 -35.4 -33.9 -34.8 -35.8 -17.9 -70.5 -18.3 -36.3 -54.0 41

 42 Other 2.7 -13.4 1.6 17.0 1.4 -18.8 -8.5 -36.6 -5.2 -24.9 -0.6 42

 43 Finance companies 4.5 3.0 6.3 -20.0 0.9 -6.3 -0.4 8.0 -6.3 -26.4 -2.8 43

 44 REITs -30.2 -22.8 3.8 5.3 1.3 10.1 13.9 8.0 12.2 6.2 11.2 44

 45 Brokers and dealers 27.3 -259.0 47.5 35.2 -85.0 35.5 179.1 -74.1 33.9 3.1 4.4 45

 46 Holding companies 19.2 -0.0 -8.4 7.3 -20.1 -4.7 -9.6 38.9 -32.2 -15.7 1.5 46

 47 Funding corporations 109.6 497.3 43.6 51.9 32.6 129.6 224.0 228.5 -10.8 76.6 22.6 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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F.213 Corporate Equities (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Net issues -459.5 264.8 315.5 -7.7 -218.9 -187.7 -195.4 -302.6 -151.9 -100.9 244.2 1

 2 Nonfinancial corporate business -786.8 -336.0 -64.6 -278.0 -472.5 -400.7 -291.8 -508.2 -397.1 -405.8 -259.5 2

 3 Rest of the world (2) 147.8 -38.5 63.7 79.1 89.0 61.0 59.2 83.8 -8.6 109.6 294.2 3

 4 Financial sectors 179.6 639.3 316.4 191.2 164.5 152.0 37.1 121.8 253.8 195.2 209.5 4

 5 U.S.-chartered depository institutions 7.5 12.1 11.6 11.9 6.4 2.1 3.5 1.3 1.1 2.3 1.4 5

 6 Property-casualty insurance companies -13.2 0.4 -5.3 -12.7 -10.7 -17.2 -18.1 -11.3 -22.2 -17.3 -23.5 6

 7 Life insurance companies -30.6 -10.7 -0.9 -4.8 -11.5 -10.4 -11.5 -11.9 -8.4 -9.7 -7.1 7

 8 Closed-end funds 18.4 -61.8 7.6 0.4 -2.5 2.9 -29.1 14.5 8.2 17.8 12.0 8

 9 Exchange-traded funds 150.6 177.2 116.5 118.0 117.6 185.2 212.7 100.2 207.0 221.0 207.7 9

 10 REITs 17.1 12.8 24.2 28.2 37.5 47.6 59.5 31.1 62.7 37.1 64.2 10

 11 Government-sponsored enterprises 25.5 27.6 96.0 38.1 29.2 0.6 23.4 -12.5 -4.4 -4.2 7.8 11

 12 Brokers and dealers 32.3 120.2 -32.4 -11.1 14.1 -50.7 -181.4 25.1 -26.8 -19.9 -46.0 12

 13 Holding companies -28.0 321.4 68.6 19.8 2.9 0.6 12.7 -14.8 36.5 -31.8 -7.0 13

 14 Funding corporations (3) 0.0 40.0 30.5 3.5 -18.4 -8.6 -34.5 0.0 0.0 0.0 0.0 14

 15 Net purchases -459.5 264.8 315.5 -7.7 -218.9 -187.7 -195.4 -302.6 -151.9 -100.9 244.2 15

 16 Household sector -805.5 -576.8 -21.2 -170.8 -122.8 -321.3 -288.7 77.8 -636.7 -437.4 246.8 16

 17 State and local governments -1.9 7.6 10.4 -15.5 -6.6 -14.1 -37.9 7.8 -19.6 -6.4 -28.0 17

 18 Federal government 0.0 256.3 0.6 24.1 40.3 -13.2 -19.8 -18.1 -9.8 -5.0 1.9 18

 19 Rest of the world (4) 217.6 105.8 154.9 73.2 -99.3 -89.7 -183.2 -415.1 161.0 78.4 -172.3 19

 20 Monetary authority 0.0 0.0 25.1 1.3 -26.4 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 U.S.-chartered depository institutions 1.4 0.9 6.3 -1.8 1.0 5.1 8.5 3.0 6.1 3.0 -2.7 21

 22 Foreign banking offices in U.S. 0.0 0.0 0.0 0.1 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 Property-casualty insurance companies 0.5 35.1 -2.4 -20.9 2.3 6.5 5.3 12.2 -1.6 10.1 6.8 23

 24 Life insurance companies 84.1 81.8 33.4 45.6 37.7 15.3 6.4 16.2 20.0 18.5 18.7 24

 25 Private pension funds -285.6 185.6 -95.4 25.2 -15.7 78.0 204.0 -22.6 110.8 19.8 66.6 25

 26 State and local govt. retirement funds 55.4 110.3 20.5 -84.0 -69.0 53.0 60.0 59.4 24.8 67.8 -57.7 26

 27 Federal government retirement funds 1.9 -8.4 8.8 5.4 -4.2 -4.1 6.5 -3.8 -8.4 -10.8 16.3 27

 28 Mutual funds 91.3 -38.1 86.5 44.3 4.9 -37.2 -75.5 -66.0 -1.5 -5.9 83.4 28

 29 Closed-end funds 18.8 -21.1 -3.0 -4.8 -1.3 -8.7 -40.7 8.2 -5.3 3.0 -18.4 29

 30 Exchange-traded funds 137.3 154.2 70.5 88.3 71.6 132.9 147.7 26.4 176.7 180.7 179.6 30

 31 Brokers and dealers 25.4 -28.5 -4.6 -18.5 -5.0 9.7 12.1 11.8 31.6 -16.8 -96.9 31

 32 Funding corporations 0.0 0.0 25.1 1.3 -26.4 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; quarterly figures are seasonally adjusted annual rates

 1 Net issues 361.5 -9.9 497.1 370.1 338.4 735.7 1121.9 560.7 784.2 476.1 997.5 1

 2 Net purchases 361.5 -9.9 497.1 370.1 338.4 735.7 1121.9 560.7 784.2 476.1 997.5 2

 3 Household sector 242.0 -45.8 344.1 235.3 192.5 501.8 842.6 142.3 724.3 298.0 709.6 3

 4 Nonfinancial corporate business -4.9 -16.5 35.3 11.1 -12.8 0.3 0.7 0.7 0.7 -1.0 -1.0 4

 5 State and local governments 1.2 15.6 -7.9 -4.9 -2.0 -7.2 -19.5 4.0 -10.1 -3.3 9.6 5

 6 Rest of the world 39.1 -2.7 57.2 111.5 147.4 153.4 212.0 338.8 -21.0 83.9 114.7 6

 7 U.S.-chartered depository institutions 3.6 1.3 14.8 -5.8 -0.8 8.3 -10.3 11.6 11.1 20.7 13.8 7

 8 Credit unions -0.0 -0.0 -0.7 0.2 0.3 0.4 1.0 -0.1 0.4 0.4 0.9 8

 9 Property-casualty insurance companies -0.5 -0.4 0.1 -0.1 -0.1 -0.1 -0.0 -0.1 -0.1 -0.1 -0.1 9

 10 Life insurance companies 31.3 -10.7 0.0 1.0 1.1 1.3 1.2 1.3 1.3 1.3 1.3 10

 11 Private pension funds 75.3 77.0 56.5 35.1 27.4 71.1 87.0 54.9 74.5 67.9 137.7 11

 12 State and local govt. retirement funds -25.6 -27.6 -2.3 -13.2 -14.6 6.5 7.3 7.3 3.0 8.3 10.9 12

(1) Shares of open-end investment companies; excludes shares of money market mutual funds, exchange-traded funds, and funding vehicles for variable annuities.
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F.215 Depository Institution Loans Not Elsewhere Classified (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Net change in liabilities 332.1 689.9 -749.7 -96.5 132.5 172.9 165.0 140.0 114.3 272.2 86.8 1

 2 Household sector -9.1 4.6 33.0 52.4 -53.9 111.5 70.4 221.4 -50.5 204.9 -11.7 2

 3 Corporate business 96.3 64.2 -234.1 -83.4 69.1 72.6 99.0 86.3 36.6 68.7 41.2 3

 4 Noncorporate business 140.8 119.6 -102.0 -20.4 56.5 93.5 117.4 88.8 69.3 98.3 37.8 4

 5 Rest of the world 24.1 5.1 -11.2 17.9 29.2 19.2 29.0 44.8 8.8 -5.9 45.2 5

 6 Foreign official institutions -0.0 0.7 0.6 1.1 -1.7 -0.7 -0.3 -1.6 -0.3 -0.4 2.5 6

 7 Foreign banks 8.3 2.8 -5.1 11.8 11.3 -1.9 2.1 11.2 -14.4 -6.4 25.4 7

 8 Other foreign 15.8 1.6 -6.6 4.9 19.5 21.7 27.3 35.2 23.6 1.0 17.3 8

 9 Financial sectors 80.1 496.4 -435.4 -62.9 31.6 -124.0 -150.8 -301.2 50.1 -93.9 -25.7 9

 10 Finance companies 52.8 -7.1 -30.4 -64.9 15.9 16.4 -17.0 -26.0 76.0 32.8 -22.5 10

 11 REITs 4.8 -0.3 -12.1 -2.2 3.6 1.2 -13.9 7.6 -3.5 14.8 -19.4 11

 12 Brokers and dealers 0.0 45.5 -45.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Holding companies 22.5 13.3 2.3 26.1 64.0 -120.2 -81.6 -235.1 -22.4 -141.4 16.3 13

 14 Funding corporations 0.0 444.9 -349.6 -21.9 -51.9 -21.5 -38.3 -47.6 0.0 0.0 0.0 14

 15 Net change in assets 332.1 689.9 -749.7 -96.5 132.5 172.9 165.0 140.0 114.3 272.2 86.8 15

 16 Monetary authority (2) 0.0 490.4 -347.6 -44.8 -67.6 -29.9 -46.1 -57.7 -12.2 -3.6 -0.7 16

 17 U.S.-chartered depository institutions 226.6 131.2 -277.7 -35.9 156.3 212.4 231.2 212.7 114.9 291.0 92.4 17

 18 Foreign banking offices in U.S. 105.0 65.1 -125.4 -16.1 36.1 -10.7 -15.0 -10.3 -2.1 -15.5 -5.2 18

 19 Banks in U.S.-affiliated areas -4.2 -1.7 -0.3 -3.3 1.1 1.0 0.4 0.3 1.4 1.7 0.3 19

 20 Credit unions 4.8 4.8 1.3 3.5 6.6 0.1 -5.5 -4.8 12.4 -1.5 0.0 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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F.216 Other Loans and Advances

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Total other loans and advances 527.7 119.1 -447.0 -226.9 4.3 -10.0 -130.1 55.3 -56.7 91.5 85.9 1

 2 U.S. government loans -2.2 6.1 66.1 3.6 4.9 2.5 12.2 8.5 -8.0 -2.5 5.1 2

 3 Liab.: Household sector -0.4 0.3 -0.2 -1.0 -0.5 -0.1 -1.1 0.4 0.1 0.1 0.6 3

 4 Nonfinancial corporate business -0.2 4.4 59.6 -4.3 -0.5 5.1 6.3 6.2 3.4 4.4 2.7 4

 5 Nonfinancial noncorporate business 1.1 2.1 3.6 0.6 2.9 0.8 0.2 2.6 0.5 -0.1 2.3 5

 6 State and local governments 0.7 0.8 0.8 0.9 0.9 0.4 0.5 1.1 -0.4 0.5 1.3 6

 7 Rest of the world -3.3 -1.5 0.3 0.2 1.4 3.2 7.7 0.4 -0.2 5.1 1.2 7

 8 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 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 0.0 9

 10 Funding corporations 0.0 0.0 2.0 7.2 0.7 -6.8 -1.4 -2.2 -11.3 -12.5 -3.0 10

 11 Foreign loans to U.S. corporate business 102.3 -44.7 -44.0 -20.2 33.9 -49.2 -86.5 -44.8 -26.7 -38.7 2.6 11

 12 Liab.: Nonfinancial corporate business 102.3 -44.7 -44.0 -20.2 33.9 -49.2 -86.5 -44.8 -26.7 -38.7 2.6 12

 Customers’ liability on acceptances outstanding

 13 Asset: 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 0.0 13

 14 Foreign banking offices in U.S. 0.0 -0.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Liab.: Nonfinancial corporate business -0.1 -0.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Rest of the world 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Holding company loans 0.7 2.0 -3.2 4.3 4.0 16.7 78.5 0.5 1.5 -13.6 2.6 17

 18 Liab.: Nonfinancial corporate business 0.7 2.0 -3.2 4.3 4.0 14.3 78.5 -3.4 1.1 -19.0 8.5 18

 19 Rest of the world 0.0 0.0 0.0 0.0 0.0 2.4 0.0 3.9 0.4 5.5 -5.9 19

 20 Policy loans (Household liability) 3.6 5.9 0.7 3.4 2.4 1.4 -0.2 -1.0 2.5 4.1 -0.1 20

 21 Asset: Federal government -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 21

 22 Life insurance companies 3.6 5.9 0.7 3.4 2.5 1.4 -0.1 -1.0 2.6 4.1 -0.1 22

 23 Govt.-sponsored enterprises loans (1) 237.7 38.1 -284.8 -144.7 -64.2 18.6 -23.6 85.2 -18.9 31.9 27.0 23

 24 Liab.: Household sector (SLMA) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 Nonfinancial corporate business (FCS) 1.9 -3.8 -0.4 1.6 -0.9 8.1 3.9 5.8 10.1 12.5 16.1 25

 26 Nonfinancial noncorporate business (FCS) 10.1 8.5 0.2 5.6 -2.7 0.2 -2.4 10.5 2.9 -10.0 -30.7 26

 27 U.S.-chartered dep. inst. (FHLB & SLMA) 197.8 -1.2 -263.9 -148.3 -60.5 4.6 -26.6 49.8 -34.2 29.6 47.8 27

 28 Credit unions (FHLB) 13.4 8.3 -14.1 -0.4 -2.0 0.9 -5.1 3.3 2.6 2.8 -11.4 28

 29 Life insurance companies (FHLB) 14.5 26.2 -6.6 -3.2 1.8 4.8 6.6 15.7 -0.2 -3.0 5.2 29

 30 Securitized loans held by ABS issuers -4.0 -15.6 -23.7 -4.9 -3.9 1.7 0.0 -0.0 12.8 -5.9 8.5 30

 31 Liab.: Nonfinancial corporate business -4.0 -15.6 -23.7 -4.9 -3.9 1.7 0.0 -0.0 12.8 -5.9 8.5 31

 32 Finance company loans to business 24.9 16.9 -91.0 -15.2 2.4 11.8 -16.6 9.0 10.8 43.8 0.1 32

 33 Liab.: Nonfinancial corporate business 22.4 15.2 -81.9 -13.7 2.1 10.6 -14.9 8.1 9.7 39.4 0.1 33

 34 Nonfinancial noncorporate business 2.5 1.7 -9.1 -1.5 0.2 1.2 -1.7 0.9 1.1 4.4 0.0 34

 35 Loans to nonfinancial corporate business (2) 164.6 110.5 -67.1 -53.3 24.9 -13.5 -94.0 -2.0 -30.6 72.5 40.0 35

 36 Asset: Household sector 8.5 12.2 -5.3 -0.6 -2.8 -2.5 12.6 -13.3 -0.5 -8.7 -4.0 36

 37 Life insurance companies 9.6 14.3 -13.3 -3.7 5.4 0.4 -7.8 5.1 2.2 2.1 2.0 37

 38 Mutual funds 36.1 12.4 1.3 -0.8 18.9 12.2 2.9 20.1 5.6 20.3 10.0 38

 39 ABS issuers 92.6 53.4 -27.4 -34.0 -1.5 -2.3 18.2 -19.8 -32.1 24.4 12.0 39

 40 Brokers and dealers 11.1 3.1 -12.7 -12.7 6.9 -14.8 -94.9 8.9 -3.8 30.6 9.0 40

 41 Funding corporations 6.7 15.1 -9.8 -1.5 -2.0 -6.6 -25.0 -3.0 -2.1 3.9 11.0 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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F.217 Total Mortgages

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Net change in mortgages 1076.8 68.0 -297.2 -518.8 -325.6 -253.8 -430.6 -248.3 -336.2 -0.1 -247.7 1

 2 Home 719.9 -119.1 -203.5 -353.9 -255.3 -241.0 -341.9 -215.8 -306.4 -100.0 -227.6 2

 3 Multifamily residential 86.6 44.0 6.6 -10.9 4.8 16.1 -41.1 24.6 33.9 46.8 17.8 3

 4 Commercial 265.6 121.1 -96.9 -163.8 -80.0 -35.7 -54.5 -64.0 -70.6 46.2 -44.8 4

 5 Farm 4.6 22.0 -3.4 9.9 4.9 6.9 6.9 6.9 6.9 6.9 6.9 5

 6 Net borrowing 1076.8 68.0 -297.2 -518.8 -325.6 -253.8 -430.6 -248.3 -336.2 -0.1 -247.7 6

 7 Household sector 696.4 -65.0 -156.4 -377.2 -235.3 -232.5 -330.2 -211.0 -299.9 -88.9 -216.6 7

 8 Nonfinancial business 375.8 126.2 -144.1 -141.8 -99.4 -36.9 -110.8 -62.2 -48.5 73.9 -53.7 8

 9 Corporate 68.6 -60.8 -131.5 -127.9 -56.4 -11.7 -26.8 -29.7 -19.6 29.2 -54.8 9

 10 Noncorporate 307.1 186.9 -12.7 -13.9 -43.0 -25.1 -84.0 -32.5 -28.8 44.8 1.1 10

 11 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 REITs 4.7 6.8 3.4 0.2 9.1 15.6 10.4 24.9 12.2 14.9 22.7 12

 13 Net change in assets 1076.8 68.0 -297.2 -518.8 -325.6 -253.8 -430.6 -248.3 -336.2 -0.1 -247.7 13

 14 Household sector -12.3 1.4 -9.7 -11.2 -10.8 -13.4 -14.1 -14.0 -12.2 -13.3 -12.3 14

 15 Nonfinancial corporate business -18.4 -7.7 -4.1 -1.6 0.2 0.2 0.2 0.2 0.2 0.2 0.2 15

 16 Nonfinancial noncorporate business 7.4 -3.0 -1.2 4.2 0.5 0.5 0.3 0.4 0.3 1.2 0.4 16

 17 State and local governments 17.3 -13.3 4.5 -4.1 -6.8 -7.2 -5.2 -5.9 -4.2 -13.4 5.8 17

 18 Federal government 2.1 13.5 12.6 -1.8 4.0 1.7 4.5 1.8 -0.8 1.2 3.6 18

 19 U.S.-chartered depository institutions 243.0 -43.4 -243.3 -205.0 -145.4 -52.2 -223.0 20.1 -153.4 147.5 -96.4 19

 20 Foreign banking offices in U.S. 14.1 5.2 -6.4 -2.5 -2.6 -1.9 -6.4 -0.1 0.1 -1.2 -4.9 20

 21 Banks in U.S.-affiliated areas 1.6 1.8 -0.3 -6.5 -2.4 1.5 -1.9 -2.1 -1.7 11.7 -2.4 21

 22 Credit unions 27.7 32.0 4.8 0.0 3.5 7.3 9.2 4.6 7.1 8.4 -3.3 22

 23 Property-casualty insurance companies 1.3 0.2 -0.5 -0.3 0.8 0.7 1.0 0.8 0.5 0.5 0.8 23

 24 Life insurance companies 22.4 16.3 -16.3 -8.6 15.0 11.9 21.4 14.9 3.8 7.7 4.7 24

 25 Private pension funds 2.1 -7.9 -2.4 2.8 1.0 -6.2 -9.7 -3.9 -5.2 -6.0 -11.2 25

 26 State and local govt. retirement funds 2.0 -2.8 -3.7 -0.5 -0.2 -2.0 -2.3 -1.9 -1.9 -1.8 -3.6 26

 27 Government-sponsored enterprises (1) 35.9 62.2 2.4 -110.8 -96.9 -100.5 -89.4 -170.9 -30.4 -111.4 -86.6 27

 28 Agency- and GSE-backed mortgage pools 623.3 497.0 415.3 186.9 165.3 132.2 159.6 136.2 94.9 138.4 166.3 28

 29 ABS issuers 183.2 -352.4 -370.2 -297.5 -218.9 -206.3 -236.8 -208.2 -219.5 -160.6 -169.6 29

 30 Finance companies -62.5 -84.0 -50.5 -55.9 -32.1 -26.4 -32.9 -31.3 -20.7 -20.6 -38.3 30

 31 REITs -13.2 -46.9 -28.0 -6.3 0.2 6.1 -5.0 11.1 7.0 11.6 -0.8 31
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F.218 Home Mortgages (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Net borrowing 719.9 -119.1 -203.5 -353.9 -255.3 -241.0 -341.9 -215.8 -306.4 -100.0 -227.6 1

 2 Household sector 683.1 -61.9 -149.6 -365.3 -229.0 -229.1 -323.5 -206.5 -293.0 -93.5 -212.4 2

 3 Nonfinancial corporate business 2.9 -10.2 -12.4 -6.8 -3.4 -0.5 -1.0 -0.1 0.1 -1.0 -1.2 3

 4 Nonfinancial noncorporate business 33.9 -46.9 -41.5 18.1 -22.9 -11.4 -17.3 -9.3 -13.5 -5.5 -14.0 4

 5 Net change in assets 719.9 -119.1 -203.5 -353.9 -255.3 -241.0 -341.9 -215.8 -306.4 -100.0 -227.6 5

 6 Household sector -12.1 0.4 -8.0 -8.0 -8.0 -8.0 -8.0 -8.0 -8.0 -8.0 -8.0 6

 7 Nonfinancial corporate business -10.9 -4.8 -2.5 -0.9 0.1 0.1 0.1 0.1 0.1 0.1 0.1 7

 8 Nonfinancial noncorporate business 2.7 -1.1 -0.4 1.5 0.2 0.2 0.1 0.1 0.1 0.4 0.1 8

 9 State and local governments 9.2 -6.7 2.3 -2.7 -3.6 -3.5 -2.7 -3.1 -1.8 -6.6 3.3 9

 10 Federal government 0.3 2.7 5.7 1.8 0.9 1.2 2.8 0.8 -1.6 2.6 -0.9 10

 11 U.S.-chartered depository institutions 135.2 -184.4 -197.0 -101.5 -77.1 -47.0 -175.4 47.8 -131.9 71.3 -104.9 11

 12 Foreign banking offices in U.S. 0.0 -1.5 -6.0 0.1 0.3 0.5 0.5 -0.5 1.0 0.9 -0.2 12

 13 Banks in U.S.-affiliated areas 4.3 1.4 -0.3 -2.5 -2.4 2.3 -1.0 -1.0 -0.8 11.9 -0.3 13

 14 Credit unions 27.7 32.0 4.8 0.0 3.5 7.3 9.2 4.6 7.1 8.4 -3.3 14

 15 Life insurance companies -0.9 -0.8 -0.2 -0.3 0.3 0.2 1.6 1.7 1.5 -4.2 -0.2 15

 16 Private pension funds -0.1 0.1 0.7 -0.1 -0.3 0.9 0.3 0.8 1.0 1.3 1.6 16

 17 State and local govt. retirement funds 0.7 -1.0 -1.3 -0.2 -0.1 -0.7 -0.8 -0.7 -0.7 -0.6 -1.3 17

 18 Government-sponsored enterprises -9.7 8.8 -11.3 -119.5 -103.5 -110.4 -101.1 -171.2 -50.4 -119.0 -75.9 18

 19 Agency- and GSE-backed mortgage pools 622.6 492.2 402.5 175.8 148.0 105.0 140.8 102.6 74.1 102.5 137.4 19

 20 ABS issuers 39.8 -312.7 -323.0 -243.8 -193.2 -182.2 -181.9 -191.2 -185.3 -170.2 -150.3 20

 21 Finance companies -65.4 -97.3 -47.8 -50.0 -19.8 -12.2 -28.2 -11.0 -13.2 3.7 -29.7 21

 22 REITs -23.5 -46.4 -21.7 -3.7 -0.7 5.5 1.8 12.3 2.4 5.4 4.8 22

 Memo:

 23 Home equity loans included above (2) 65.5 -18.5 -82.5 -90.4 -75.0 -83.0 -88.4 -72.2 -88.3 -83.3 -85.9 23

 24 U.S.-chartered depository institutions 81.5 22.0 -53.3 -66.3 -60.1 -70.4 -72.3 -59.4 -78.1 -71.9 -74.0 24

 25 Foreign banking offices in U.S. 0.0 -0.4 -0.6 0.0 -0.0 -0.0 0.1 -0.2 0.0 -0.1 0.1 25

 26 Credit unions 7.2 4.6 -4.1 -6.4 -6.0 -6.5 -9.4 -6.1 -4.4 -6.1 -6.3 26

 27 ABS issuers -10.3 -25.1 -15.0 -8.6 -4.8 -3.6 -3.7 -3.4 -4.0 -3.3 -3.0 27

 28 Finance companies -13.1 -19.5 -9.6 -9.3 -4.0 -2.4 -2.9 -3.1 -1.8 -1.9 -2.7 28

(1) Mortgages on 1-4 family properties including mortages on farm houses.

(2) Loans made under home equity lines of credit and home equity loans secured by junior liens. Excludes home equity loans held by individuals.

F.219 Multifamily Residential Mortgages

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Net borrowing 86.6 44.0 6.6 -10.9 4.8 16.1 -41.1 24.6 33.9 46.8 17.8 1

 2 Nonfinancial corporate business 4.4 2.1 0.2 -0.6 0.2 0.9 -1.9 1.3 1.7 2.3 -0.0 2

 3 Nonfinancial noncorporate business 84.5 39.6 4.6 -11.2 4.6 16.3 -36.8 25.4 32.8 43.8 -0.4 3

 4 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 REITs -2.3 2.3 1.8 0.8 -0.1 -1.1 -2.4 -2.1 -0.7 0.7 18.2 5

 6 Net change in assets 86.6 44.0 6.6 -10.9 4.8 16.1 -41.1 24.6 33.9 46.8 17.8 6

 7 Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Nonfinancial corporate business -0.3 -0.1 -0.1 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Nonfinancial noncorporate business 2.6 -1.0 -0.4 1.5 0.2 0.2 0.1 0.1 0.1 0.4 0.1 9

 10 State and local governments 7.2 -5.3 1.8 -1.6 -2.6 -2.9 -2.1 -2.4 -1.7 -5.4 2.3 10

 11 Federal government -0.3 0.1 0.1 -0.3 -0.3 -0.3 0.0 -0.6 -0.8 0.0 -0.4 11

 12 U.S.-chartered depository institutions 7.8 14.9 -9.0 -12.2 -6.6 5.0 -14.6 6.8 7.1 20.6 12.7 12

 13 Foreign banking offices in U.S. 0.0 -0.2 -0.4 -0.5 -0.6 -1.5 -5.7 -0.5 0.1 -0.1 -0.5 13

 14 Life insurance companies 5.8 -0.1 -3.2 -1.3 2.1 1.5 2.5 2.3 1.8 -0.6 0.8 14

 15 Private pension funds 0.1 0.3 0.3 0.4 -0.3 0.9 0.0 1.0 1.0 1.6 1.9 15

 16 State and local govt. retirement funds 0.6 -0.8 -1.1 -0.2 -0.1 -0.6 -0.7 -0.6 -0.6 -0.5 -1.1 16

 17 Government-sponsored enterprises 42.3 42.5 14.2 2.0 2.8 6.2 8.3 -3.5 16.6 3.6 -14.1 17

 18 Agency- and GSE-backed mortgage pools -0.7 4.6 13.0 11.3 19.4 27.0 19.0 31.8 21.0 36.2 29.1 18

 19 ABS issuers 21.5 -10.8 -5.8 -8.7 -7.7 -18.7 -47.4 -9.4 -9.6 -8.4 -13.8 19

 20 Finance companies -0.1 0.8 -0.7 -1.0 -1.5 -0.8 -0.6 -0.6 -1.0 -0.9 -0.4 20

 21 REITs 0.2 -0.9 -2.0 -0.4 -0.2 0.1 -0.0 0.2 0.0 0.4 1.2 21
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F.220 Commercial Mortgages

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Net borrowing 265.6 121.1 -96.9 -163.8 -80.0 -35.7 -54.5 -64.0 -70.6 46.2 -44.8 1

 2 Household sector 13.3 -3.0 -6.9 -11.9 -6.2 -3.4 -6.7 -4.5 -6.9 4.6 -4.2 2

 3 Nonfinancial corporate business 59.5 -58.6 -120.0 -122.9 -53.8 -12.6 -24.3 -31.5 -21.8 27.4 -53.9 3

 4 Nonfinancial noncorporate business 185.8 178.2 28.4 -28.3 -29.1 -36.5 -36.3 -54.9 -54.7 0.0 9.0 4

 5 REITs 7.0 4.5 1.6 -0.6 9.2 16.7 12.8 27.0 12.8 14.2 4.5 5

 6 Net change in assets 265.6 121.1 -96.9 -163.8 -80.0 -35.7 -54.5 -64.0 -70.6 46.2 -44.8 6

 7 Household sector 2.1 0.9 -0.7 -2.5 -4.3 -6.1 -5.5 -5.9 -6.4 -6.8 -7.3 7

 8 Nonfinancial corporate business -7.3 -2.8 -1.6 -0.6 0.1 0.1 0.1 0.1 0.1 0.1 0.1 8

 9 Nonfinancial noncorporate business 2.0 -0.8 -0.3 1.1 0.1 0.1 0.1 0.1 0.1 0.3 0.1 9

 10 State and local governments 1.4 -1.1 0.4 0.2 -0.7 -0.7 -0.4 -0.5 -0.7 -1.4 0.1 10

 11 Federal government 2.1 10.4 6.4 -3.7 3.2 0.8 1.5 1.5 1.5 -1.5 5.3 11

 12 U.S.-chartered depository institutions 98.1 117.4 -36.8 -95.1 -62.9 -11.9 -36.8 -35.5 -29.7 54.3 -5.3 12

 13 Foreign banking offices in U.S. 14.1 6.8 0.1 -2.1 -2.3 -0.9 -1.2 0.9 -1.0 -2.1 -4.1 13

 14 Banks in U.S.-affiliated areas -2.7 0.4 -0.0 -4.0 -0.1 -0.8 -0.9 -1.1 -0.9 -0.2 -2.1 14

 15 Property-casualty insurance companies 1.3 0.2 -0.5 -0.3 0.8 0.7 1.0 0.8 0.5 0.5 0.8 15

 16 Life insurance companies 16.8 14.9 -11.4 -6.9 12.3 10.0 16.9 10.6 0.2 12.1 3.9 16

 17 Private pension funds 2.2 -8.3 -3.4 2.5 1.6 -7.9 -10.1 -5.7 -7.2 -8.8 -14.7 17

 18 State and local govt. retirement funds 0.7 -1.0 -1.2 -0.2 -0.1 -0.7 -0.8 -0.7 -0.7 -0.6 -1.2 18

 19 Agency- and GSE-backed mortgage pools 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 ABS issuers 121.9 -28.9 -41.4 -45.1 -18.1 -5.5 -7.5 -7.6 -24.6 17.9 -5.5 20

 21 Finance companies 2.9 12.6 -2.0 -4.9 -10.8 -13.4 -4.1 -19.7 -6.5 -23.4 -8.2 21

 22 REITs 10.1 0.4 -4.3 -2.3 1.1 0.5 -6.8 -1.4 4.6 5.8 -6.7 22

F.221 Farm Mortgages (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Net borrowing 4.6 22.0 -3.4 9.9 4.9 6.9 6.9 6.9 6.9 6.9 6.9 1

 2 Nonfinancial corporate business 1.8 6.0 0.7 2.4 0.6 0.4 0.5 0.5 0.4 0.4 0.4 2

 3 Nonfinancial noncorporate business 2.8 16.1 -4.1 7.5 4.3 6.5 6.4 6.4 6.5 6.5 6.6 3

 4 Net change in assets 4.6 22.0 -3.4 9.9 4.9 6.9 6.9 6.9 6.9 6.9 6.9 4

 5 Household sector -2.3 0.1 -1.0 -0.7 1.6 0.8 -0.6 -0.1 2.2 1.6 2.9 5

 6 Nonfinancial noncorporate business 0.1 -0.1 -0.0 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 State and local governments -0.6 -0.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Federal government 0.1 0.2 0.4 0.4 0.3 0.1 0.1 0.1 0.0 0.0 -0.4 8

 9 U.S.-chartered depository institutions 1.9 8.8 -0.5 3.8 1.2 1.8 3.7 1.0 1.2 1.2 1.1 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 0.1 -0.1 10

 11 Life insurance companies 0.7 2.3 -1.5 -0.2 0.2 0.3 0.5 0.3 0.3 0.3 0.2 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 0.0 12

 13 Government-sponsored enterprises 3.3 10.9 -0.5 6.7 3.8 3.7 3.4 3.8 3.5 4.1 3.5 13

 14 Agency- and GSE-backed mortgage pools 1.4 0.1 -0.2 -0.2 -2.1 0.3 -0.2 1.7 -0.2 -0.3 -0.2 14

(1) Excludes mortgages on farm houses.
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F.222 Consumer Credit

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Net change in liabilities (Households) 141.9 19.6 -111.5 -17.9 93.4 154.6 141.1 168.7 130.7 177.7 157.1 1

 2 Net change in assets 141.9 19.6 -111.5 -17.9 93.4 154.6 141.1 168.7 130.7 177.7 157.1 2

 3 Nonfinancial corporate business 4.3 -1.2 -2.2 -11.4 2.3 0.0 18.7 9.2 -5.6 -22.3 1.6 3

 4 Nonfinancial noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Federal government (1) 6.0 11.3 74.3 130.2 108.7 109.4 135.8 99.0 135.5 67.2 131.9 5

 6 U.S.-chartered depository institutions 58.1 70.1 -64.5 -70.3 7.1 28.1 -48.0 76.0 20.8 63.5 -20.1 6

 7 Credit unions 0.5 -0.4 0.9 -10.7 -3.4 20.6 20.6 27.5 6.5 27.8 36.5 7

 8 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 ABS issuers 32.8 -42.3 -37.8 -42.3 -4.2 3.7 19.1 -19.0 -2.2 16.9 18.4 9

 10 Finance companies 40.2 -17.9 -82.4 -13.4 -17.0 -7.2 -5.0 -24.0 -24.3 24.5 -11.2 10

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

 the government purchased from depository institutions and finance companies.

F.223 Trade Credit

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Net change in trade payables 202.0 -170.0 -23.1 225.5 48.6 189.3 253.8 166.9 208.1 128.2 120.9 1

 2 Household sector 14.6 22.2 16.0 21.4 14.0 1.5 6.6 2.8 -0.0 -3.2 -6.4 2

 3 Nonfinancial corporate business 85.1 -225.2 -85.3 155.7 18.7 117.7 154.9 149.5 139.8 26.7 60.9 3

 4 Nonfinancial noncorporate business 26.0 5.7 7.7 28.4 2.8 14.0 8.8 3.9 10.4 33.1 39.5 4

 5 State and local governments 37.0 39.2 39.6 40.0 40.2 40.4 40.4 40.3 40.5 40.5 40.3 5

 6 Federal government 29.3 22.6 -56.2 6.2 8.8 9.3 15.4 -18.7 21.6 18.7 -10.8 6

 7 Rest of the world 12.4 -9.9 6.1 25.8 -32.2 6.3 15.5 4.5 -2.2 7.4 -7.0 7

 8 Brokers and dealers -2.4 -24.7 48.9 -52.0 -3.8 -0.0 12.2 -15.3 -2.0 5.0 4.5 8

 9 Net change in trade receivables 226.0 -199.0 -128.4 133.7 99.0 128.6 236.4 109.0 165.8 3.3 -16.6 9

 10 Nonfinancial corporate business 159.8 -169.5 -31.1 105.7 82.2 109.9 215.5 97.8 124.5 1.7 -14.0 10

 11 Nonfinancial noncorporate business 54.7 -3.0 -26.3 37.0 5.4 6.8 3.9 4.5 3.3 15.6 4.7 11

 12 State and local governments -12.5 -22.3 -18.6 -19.3 -9.7 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Federal government 1.2 4.2 -21.1 -0.7 4.8 2.4 -5.2 6.9 6.0 1.9 -13.0 13

 14 Rest of the world 20.8 6.5 6.6 19.6 17.2 11.1 15.5 7.8 26.1 -4.9 3.8 14

 15 Property-casualty insurance companies -1.6 1.3 -3.7 0.8 3.4 4.8 15.8 3.6 9.8 -10.0 6.1 15

 16 ABS issuers 3.4 -16.1 -34.3 -9.5 -4.2 -6.4 -9.1 -11.6 -3.9 -1.0 -4.2 16

 17 Discrepancy -23.9 29.0 105.4 91.7 -50.4 60.6 17.5 57.9 42.3 124.9 137.6 17

F.224 Security Credit

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Net change in liabilities 276.5 -397.9 -95.9 123.6 97.8 188.9 176.2 155.0 249.4 174.9 -142.6 1

 2 Household sector 33.4 -160.7 38.1 75.2 -39.3 64.9 115.4 -93.1 98.7 138.4 9.9 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 0.0 3

 4 Brokers and dealers 243.0 -237.3 -134.0 48.4 137.1 124.0 60.8 248.1 150.6 36.4 -152.5 4

 5 Customer credit balances (HH) 210.8 -123.8 -74.1 25.7 58.1 23.6 39.6 61.5 10.1 -16.6 2.2 5

 6 From U.S.-chartered depository institutions 29.3 12.8 -59.2 -5.8 37.3 42.3 -39.4 75.8 128.1 4.7 -135.7 6

 7 From foreign banking offices in U.S. 3.0 -126.3 -0.8 28.5 41.6 58.0 60.6 110.8 12.4 48.3 -19.0 7

 8 Net change in assets 276.5 -397.9 -95.9 123.6 97.8 188.9 176.2 155.0 249.4 174.9 -142.6 8

 9 Household sector 210.8 -123.8 -74.1 25.7 58.1 23.6 39.6 61.5 10.1 -16.6 2.2 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 0.0 10

 11 U.S.-chartered depository institutions 29.3 12.8 -59.2 -5.8 37.3 42.3 -39.4 75.8 128.1 4.7 -135.7 11

 12 Foreign banking offices in U.S. 3.0 -126.3 -0.8 28.5 41.6 58.0 60.6 110.8 12.4 48.3 -19.0 12

 13 Brokers and dealers 33.4 -160.7 38.1 75.2 -39.3 64.9 115.4 -93.1 98.7 138.4 9.9 13
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F.225 Life Insurance and Pension Fund Reserves

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 Life insurance reserves:

 1 Net change in liabilities 34.2 67.0 26.5 17.2 94.1 -11.6 -9.6 -73.2 11.8 24.6 26.7 1

 2 Federal government 1.2 1.0 1.1 0.9 1.3 0.3 0.5 1.5 -0.2 -0.5 0.2 2

 3 Life insurance companies 33.0 66.0 25.4 16.4 92.8 -11.9 -10.1 -74.6 12.0 25.1 26.5 3

 4 Net change in assets 34.2 67.0 26.5 17.2 94.1 -11.6 -9.6 -73.2 11.8 24.6 26.7 4

 5 Households 18.0 61.7 23.7 9.0 86.9 -26.3 -46.6 -82.2 0.2 23.5 11.4 5

 6 U.S.-chartered depository institutions 10.9 6.4 0.8 4.5 4.8 7.4 12.4 4.8 5.9 6.4 5.3 6

 7 Holding companies 5.3 -1.2 2.1 3.8 2.4 7.3 24.5 4.3 5.8 -5.3 10.0 7

 Pension fund reserves:

 8 Net change in liabilities 567.5 53.6 30.2 335.2 263.6 239.4 213.1 181.1 328.5 234.8 63.6 8

 9 Life insurance companies 116.7 49.1 2.6 145.3 79.7 110.0 97.0 -47.7 161.5 229.0 142.5 9

 10 Private pension funds (1) 324.7 -107.3 26.5 156.6 166.0 25.7 -40.4 89.4 88.9 -35.2 -190.7 10

 11 State and local govt. retirement funds 78.4 33.0 -77.1 -48.6 -68.7 53.5 88.7 34.5 -8.0 98.8 -63.1 11

 12 Federal government retirement funds (2) 47.8 78.9 78.2 81.9 86.6 50.2 67.9 104.9 86.0 -57.7 174.9 12

 13 Net change in assets (Households) (3) 567.5 53.6 30.2 335.2 263.6 239.4 213.1 181.1 328.5 234.8 63.6 13

(1) Includes unallocated insurance company contracts beginning 1985:Q4.

(2) Includes the Thrift Savings Plan, the National Railroad Retirement Investment Trust, and other federal government retirement funds.

(3) Excludes all individual retirement accounts (IRAs) (table F.225.i), except those at life insurance companies.

F.226 Taxes Payable by Businesses

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Net change in taxes payable by all -69.3 -123.8 -3.4 19.4 20.5 11.9 13.3 22.6 21.7 -10.1 61.1 1

 businesses

 2 Nonfinancial corporate business -49.6 3.1 -3.3 7.2 8.8 4.0 -9.5 20.7 -16.8 21.6 16.0 2

 3 Nonfinancial noncorporate business 3.8 6.7 -6.3 -0.7 1.1 1.4 0.8 0.9 0.7 3.2 1.0 3

 4 U.S.-chartered depository institutions -15.6 -86.0 7.3 6.6 10.6 6.7 7.7 9.1 16.3 -6.4 7.6 4

 5 Property-casualty insurance companies -2.4 -28.1 5.3 5.6 -4.4 3.8 26.0 -20.7 17.9 -8.1 30.2 5

 6 Life insurance companies -3.4 -19.7 -7.0 2.6 5.2 -4.6 -14.8 13.9 0.9 -18.5 -0.6 6

 7 Finance companies -1.5 -0.1 -2.8 0.3 0.4 0.1 1.2 -0.8 -0.6 0.6 1.5 7

 8 Brokers and dealers -0.6 0.3 3.2 -2.1 -1.1 0.5 1.8 -0.6 3.3 -2.4 5.3 8

 9 Net change in business taxes receivable -32.7 -59.8 29.2 29.9 36.6 52.6 81.5 25.4 48.4 55.1 51.1 9

 10 State and local governments 2.7 2.2 -6.7 -2.2 6.9 9.9 12.4 5.4 10.2 11.6 11.2 10

 11 Federal government -35.5 -61.9 35.9 32.2 29.7 42.7 69.1 20.0 38.2 43.4 40.0 11

 12 Discrepancy -36.5 -64.0 -32.6 -10.5 -16.0 -40.7 -68.2 -2.8 -26.7 -65.2 9.9 12

F.227 Proprietors’ Equity in Noncorporate Business

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Total household investment 18.4 -284.0 -32.3 143.6 -8.6 -30.3 0.6 -27.4 -34.9 -59.3 -41.1 1

 2 Nonfinancial noncorporate business 16.0 -295.5 -28.6 143.2 -6.6 -36.7 -28.5 -32.9 -31.0 -54.4 -28.1 2

 3 Brokers and dealers 2.4 11.5 -3.6 0.4 -2.0 6.4 29.1 5.5 -3.9 -4.9 -13.0 3
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F.228 Total Miscellaneous Financial Claims

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Net change in liabilities 2425.5 2269.9 -329.6 1041.8 1158.3 705.2 480.2 645.3 797.8 897.3 1182.6 1

 2 Household sector 1.0 3.2 -4.9 2.7 -0.4 0.6 7.5 7.4 1.7 -14.3 4.1 2

 3 Nonfinancial corporate business 1177.2 526.5 48.9 406.9 373.8 328.6 142.9 428.7 595.7 147.1 95.8 3

 4 Nonfinancial noncorporate business 94.2 114.1 32.7 -50.8 32.5 6.1 36.7 5.3 4.0 -21.5 45.8 4

 5 Federal government 76.6 89.5 81.4 90.6 102.9 45.5 36.8 118.0 63.4 -36.4 178.8 5

 6 Rest of the world 562.7 511.9 -299.1 557.4 413.1 234.2 69.8 255.8 56.6 554.5 133.2 6

 7 Monetary authority 2.5 2.2 6.1 29.2 -26.7 2.0 49.9 -47.8 -21.9 27.6 52.4 7

 8 U.S.-chartered depository institutions 22.3 26.7 257.9 198.4 50.8 111.5 349.3 -36.2 234.8 -101.8 376.9 8

 9 Foreign banking offices in U.S. 144.8 549.5 -418.2 7.5 255.5 -42.7 -189.3 99.3 29.4 -110.3 46.8 9

 10 Banks in U.S.-affiliated areas -11.9 -3.8 4.3 -5.9 -3.9 -2.0 -1.1 -5.0 5.2 -7.2 -3.4 10

 11 Credit unions -5.6 1.1 14.7 -8.3 1.3 0.3 0.3 -8.1 7.0 2.2 8.4 11

 12 Property-casualty insurance companies 25.8 40.2 -2.6 9.3 33.1 10.7 -28.0 21.2 3.6 46.1 -57.3 12

 13 Life insurance companies 69.5 63.2 17.9 14.0 33.2 -0.0 -0.3 3.6 20.7 -24.1 -160.3 13

 14 Government-sponsored enterprises 17.7 37.1 62.2 -68.1 -24.0 -6.5 8.8 -9.2 -11.7 -13.7 -15.8 14

 15 Finance companies -6.9 10.4 -91.2 -13.4 -14.7 -28.6 -27.7 -26.5 -143.8 83.4 -0.4 15

 16 REITs 4.6 -2.7 -13.8 14.9 8.5 17.0 62.2 -39.5 90.0 -44.9 -17.1 16

 17 Brokers and dealers 46.2 -70.7 18.4 20.7 -9.0 0.2 297.7 -171.9 76.1 -201.0 248.3 17

 18 Holding companies 6.8 -163.8 -25.6 -68.2 -36.8 -66.0 -130.1 69.8 -235.1 31.3 336.8 18

 19 Funding corporations 197.9 535.4 -18.5 -95.0 -30.6 94.5 -205.1 -19.4 22.0 580.3 -90.3 19

 20 Net change in assets 2801.7 240.1 -64.8 845.5 1197.6 833.1 735.9 961.1 228.0 1407.2 1413.2 20

 21 Household sector 66.1 55.1 21.1 44.4 46.8 11.5 -19.7 -5.1 10.1 60.9 -35.4 21

 22 Nonfinancial corporate business 938.5 -347.0 107.7 503.9 444.3 669.0 507.2 683.3 613.2 872.4 746.9 22

 23 Nonfinancial noncorporate business 330.8 107.5 -81.7 75.3 23.7 27.0 15.7 18.1 13.2 61.0 18.6 23

 24 State and local governments -31.9 88.3 28.7 -11.4 -59.2 -48.7 17.8 -38.6 -98.6 -75.3 -59.0 24

 25 Federal government 1.9 -28.0 35.4 -3.5 1.9 -0.8 -10.7 5.9 0.1 1.3 1.8 25

 26 Rest of the world 638.8 -252.3 240.3 455.8 258.8 273.8 241.4 421.9 -315.0 747.1 -81.4 26

 27 Monetary authority 25.8 530.2 -493.8 7.8 142.9 -27.6 -152.8 -5.0 -1.0 48.5 76.7 27

 28 U.S.-chartered depository institutions 56.7 93.7 12.2 -84.6 -68.2 -21.9 170.7 -69.4 92.3 -281.1 77.9 28

 29 Foreign banking offices in U.S. 14.7 364.3 -115.8 4.9 222.7 -17.0 -180.1 83.3 87.9 -59.2 37.5 29

 30 Banks in U.S.-affiliated areas 6.1 -1.0 -4.5 4.5 0.8 0.2 0.1 16.0 -10.4 -5.0 -0.6 30

 31 Credit unions 5.2 -0.4 0.2 41.1 -12.1 0.8 15.0 -27.8 29.2 -13.3 9.2 31

 32 Property-casualty insurance companies 17.6 6.8 14.6 -22.5 3.1 -3.9 -14.5 10.0 -1.1 -10.1 -8.1 32

 33 Life insurance companies 39.5 37.2 -22.5 2.8 48.9 44.2 -51.9 44.4 55.0 129.4 -107.2 33

 34 Private pension funds 246.6 -116.6 61.3 -17.7 87.6 -67.7 -206.5 49.2 -43.1 -70.3 -237.6 34

 35 State and local govt. retirement funds 2.7 -18.4 -8.5 16.1 8.5 -0.4 -6.8 1.1 3.0 1.0 -18.2 35

 36 Federal government retirement funds 33.3 63.3 61.9 65.7 70.8 40.4 55.8 91.7 85.0 -70.9 167.3 36

 37 Money market mutual funds 29.4 -33.9 -8.3 -3.4 -0.8 6.1 -24.7 -48.3 -75.7 173.0 7.6 37

 38 Mutual funds 2.8 3.2 -5.1 -12.0 2.9 -33.1 -161.0 -61.9 18.9 71.4 -0.0 38

 39 Government-sponsored enterprises 27.0 -42.6 1.2 29.3 -0.1 4.1 6.3 -56.4 14.7 51.8 -137.7 39

 40 Finance companies 11.2 21.4 26.3 -64.4 6.7 -28.7 15.0 -67.1 -51.0 -11.7 -10.4 40

 41 REITs -4.4 -0.8 -8.5 7.4 13.3 22.5 34.3 14.7 13.6 27.5 31.7 41

 42 Brokers and dealers 47.3 -615.1 54.9 -104.2 -101.7 -61.4 269.9 96.1 -162.8 -448.8 445.3 42

 43 Holding companies 178.2 283.1 85.4 -31.2 36.5 37.4 142.9 -92.6 -67.4 166.8 360.0 43

 44 Funding corporations 117.6 42.1 -67.2 -58.4 19.6 7.2 72.5 -102.3 17.9 40.7 128.5 44

 45 Discrepancy -376.2 2029.8 -264.7 196.3 -39.2 -127.9 -255.8 -315.8 569.8 -509.9 -230.7 45
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F.229 Identified Miscellaneous Financial Claims - Part I

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 U.S. direct investment abroad (1):

 1 Liab.: Rest of the world 414.0 329.1 289.5 327.9 419.3 351.4 462.6 251.9 363.7 327.6 337.0 1

 2 Equity 200.9 127.0 18.2 41.1 52.4 38.3 22.8 58.9 44.7 26.7 31.8 2

 3 Reinvested earnings 230.5 233.1 229.3 315.3 348.6 312.7 324.5 309.4 287.0 329.7 301.9 3

 4 Intercompany accounts -17.3 -31.1 42.0 -28.5 18.3 0.5 115.2 -116.5 32.0 -28.7 3.3 4

 5 Asset: Nonfinancial corporate business 307.0 262.6 257.2 324.8 396.5 332.6 424.6 217.4 347.2 341.0 361.4 5

 6 U.S.-chartered depository institutions 32.8 17.6 -3.4 3.6 -1.2 2.9 9.0 12.2 -7.1 -2.3 -16.2 6

 7 Property-casualty insurance companies 17.6 6.8 14.6 -22.5 3.1 -3.9 -14.5 10.0 -1.1 -10.1 -8.1 7

 8 Life insurance companies 5.8 4.6 2.0 2.1 2.6 2.0 2.4 1.9 2.0 1.7 1.7 8

 9 Finance companies 26.4 24.2 8.1 6.5 10.0 6.7 27.9 3.3 10.3 -14.8 -15.6 9

 10 Brokers and dealers 24.4 13.3 10.9 13.3 8.4 11.2 13.1 7.0 12.4 12.2 13.9 10

 Foreign direct investment in U.S. (1):

 11 Liab.: Nonfinancial corporate business 211.6 189.5 104.7 156.9 206.8 161.5 112.1 169.1 150.2 214.8 213.9 11

 12 Nonfinancial noncorporate business 0.3 -0.2 0.1 0.1 0.2 0.1 0.1 -0.1 0.2 0.2 0.3 12

 13 Foreign banking offices in U.S. -0.8 24.8 16.6 9.3 17.9 1.6 -26.0 13.3 9.2 9.9 21.5 13

 14 Property-casualty insurance companies 7.1 14.9 2.4 3.0 -2.1 0.6 -1.1 5.1 -3.3 1.8 -2.8 14

 15 Life insurance companies -1.0 12.5 11.1 6.3 -10.0 1.4 -6.3 6.3 4.4 1.2 4.9 15

 16 Finance companies -5.6 12.2 12.8 18.0 10.2 0.9 4.5 0.3 -1.6 0.4 -2.9 16

 17 Brokers and dealers 9.0 55.8 2.1 11.7 10.4 7.9 8.6 3.3 7.5 12.3 12.9 17

 18 Funding corporations 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 18

 19 Asset: Rest of the world 221.2 310.1 150.4 205.8 234.0 174.7 92.6 197.9 167.2 241.0 248.3 19

 20 Equity 142.3 255.7 126.8 131.6 93.2 58.1 8.1 48.6 37.7 137.9 132.5 20

 21 Reinvested earnings 48.2 39.1 21.7 67.5 87.4 102.7 107.0 81.1 107.1 115.6 124.3 21

 22 Intercompany accounts 30.7 15.2 2.0 6.7 53.4 13.9 -22.5 68.2 22.4 -12.5 -8.5 22

 Federal government equity in IBRD, etc.:

 23 Liab.: Rest of the world 1.7 1.4 1.7 2.3 2.6 2.6 1.5 7.0 1.0 1.1 -1.3 23

 24 Asset: Federal government 1.7 1.4 1.7 2.3 2.6 2.6 1.5 7.0 1.0 1.1 -1.3 24

 Federal Reserve Bank stock:

 25 Liab.: Monetary authority 3.1 2.6 4.6 0.9 0.4 0.5 1.3 0.5 0.1 -0.0 0.8 25

 26 Asset: U.S.-chartered depository institutions 3.1 2.6 4.6 0.9 0.4 0.5 1.3 0.5 0.1 -0.0 0.8 26

 Equity in govt.-sponsored enterprises:

 27 Liab.: Government-sponsored enterprises 9.1 -4.2 0.0 -2.7 -5.9 -1.8 -2.6 -3.2 -1.5 -0.0 -3.6 27

 28 Asset: Nonfin. corporate business (Fannie Mae and FCS) 0.1 -0.1 0.0 0.1 -0.0 0.9 0.5 0.7 1.1 1.3 1.7 28

 29 Nonfinancial noncorporate (FCS) 0.7 1.2 -0.0 0.4 0.3 -0.7 0.3 -1.3 -0.7 -1.1 -1.6 29

 30 Federal government 0.0 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) 7.0 -6.5 0.7 -3.0 -6.1 -2.2 -3.1 -3.3 -1.8 -0.4 -3.4 31

 32 Credit unions (FHLB) 0.6 0.3 -0.4 -0.2 0.7 0.1 -0.1 0.5 -0.1 0.0 0.2 32

 33 Life insurance companies (FHLB) 0.6 1.0 -0.3 -0.0 -0.8 0.1 -0.1 0.2 0.0 0.2 -0.4 33

 Holding company net transactions with subsidiaries:

 34 Liab.: U.S.-chartered depository institutions 114.0 113.6 166.8 33.4 76.1 101.2 22.3 174.2 136.6 71.8 110.5 34

 35 Property-casualty insurance companies 0.0 0.0 0.0 0.0 0.0 4.3 0.0 10.2 5.3 1.8 -22.9 35

 36 Life insurance companies 5.3 -12.5 9.3 22.2 9.3 9.9 -2.1 27.7 13.5 0.7 0.8 36

 37 Finance companies 41.5 -7.3 -23.3 -38.1 -20.6 -0.5 -15.5 -14.2 -1.4 29.0 -5.8 37

 38 Brokers and dealers -57.5 98.2 -173.1 -25.7 -12.8 49.6 255.6 -113.9 4.9 52.0 -84.4 38

 39 Rest of the world 42.2 -9.1 23.5 10.6 30.6 -51.5 77.3 -77.8 -48.7 -156.9 89.8 39

 40 Asset: Holding companies 145.5 183.0 3.1 2.4 82.7 113.1 337.6 6.2 110.2 -1.8 88.1 40

 NFC investment in finance company subsidiaries:

 41 Liab.: Finance companies -54.8 -1.1 -9.3 22.3 8.5 -0.4 -11.3 -10.4 -1.0 21.2 -4.2 41

 42 Asset: Nonfinancial corporate business -54.8 -1.1 -9.3 22.3 8.5 -0.4 -11.3 -10.4 -1.0 21.2 -4.2 42

 Funding corporations’ investment in subsidiaries:

 43 Liab.: Foreign banking offices in U.S. 43.7 35.6 -73.5 -31.5 -33.7 -11.8 65.7 -103.0 -42.3 32.3 67.7 43

 44 Brokers and dealers 73.9 6.4 6.3 -26.9 53.4 19.0 6.8 0.7 60.2 8.4 60.8 44

 45 Asset: Funding corporations 117.6 42.1 -67.2 -58.4 19.6 7.2 72.5 -102.3 17.9 40.7 128.5 45

 Equity investment under Public-Private Inv. Program:

 46 Liab.: Funding corporations 0.0 0.0 2.4 7.9 1.4 0.1 0.2 0.0 0.0 0.0 0.0 46

 47 Asset: Households (2) 0.0 0.0 1.2 4.0 0.7 0.0 0.1 0.0 0.0 0.0 0.0 47

 48 Federal government 0.0 0.0 1.2 4.0 0.7 0.0 0.1 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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Z.1, June 6, 2013 61

F.230 Identified Miscellaneous Financial Claims - Part II

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 Nonofficial foreign currencies:

 1 Liab.: Rest of the world 23.9 529.8 -543.3 -10.1 99.7 -91.0 -213.4 -74.0 -61.6 -14.9 -3.3 1

 2 Asset: Federal government -0.1 0.0 0.2 0.1 -0.1 -0.1 -0.1 0.0 0.1 -0.3 0.0 2

 3 Monetary authority (1) 24.0 529.7 -543.5 -10.2 99.7 -90.9 -213.4 -74.1 -61.7 -14.6 -3.3 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 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 0.0 5

 Deposits at Federal Home Loan Banks:

 6 Liab.: Government-sponsored enterprises 1.9 -5.4 0.4 -1.5 -1.8 1.2 17.1 -15.2 -2.1 4.8 -1.4 6

 7 Asset: U.S.-chartered depository institutions 1.9 -5.4 0.4 -1.5 -1.8 1.2 17.1 -15.2 -2.1 4.8 -1.4 7

 Deferred and unpaid life insurance premiums:

 8 Liab.: Household sector 1.0 3.2 -4.9 2.7 -0.4 0.6 7.5 7.4 1.7 -14.3 4.1 8

 9 Asset: Life insurance companies 1.0 3.2 -4.9 2.7 -0.4 0.6 7.5 7.4 1.7 -14.3 4.1 9

 Life insurance company reserves:

 10 Liab.: Life insurance companies 15.5 17.6 8.4 14.8 14.4 -2.4 -0.9 -15.7 18.4 -11.5 -13.5 10

 11 Accident and health 13.5 19.5 9.7 14.7 15.2 -3.1 -4.2 -19.2 15.3 -4.3 -14.9 11

 12 Policy dividend accumulation 0.2 -3.4 -1.1 0.4 -1.8 0.4 0.8 1.5 1.4 -2.3 0.3 12

 13 Contract claims 1.8 1.5 -0.1 -0.4 0.9 0.3 2.5 1.9 1.6 -5.0 1.2 13

 14 Asset: Household sector 15.5 17.6 8.4 14.8 14.4 -2.4 -0.9 -15.7 18.4 -11.5 -13.5 14

 Policy payables:

 15 Liab.: Property-casualty insurance companies 18.7 25.4 -5.0 6.3 35.2 5.8 -27.0 5.9 1.6 42.5 -31.7 15

 16 Asset: Household sector 6.7 11.0 -5.1 3.2 13.2 0.6 -14.4 -0.8 -1.6 19.2 -17.4 16

 17 Nonfinancial corporate business 8.3 10.9 -0.9 3.0 15.7 3.3 -9.3 3.6 1.5 17.4 -12.2 17

 18 Nonfinancial noncorporate business 3.7 3.4 0.9 0.1 6.3 1.9 -3.3 3.1 1.7 5.9 -2.0 18

 Unallocated insurance company contracts:

 19 Liab.: Life insurance companies 28.2 54.6 32.6 -45.5 8.0 -31.6 -51.0 5.7 -43.0 -38.1 -58.3 19

 20 Asset: Private pension funds 28.2 54.6 32.6 -45.5 8.0 -31.6 -51.0 5.7 -43.0 -38.1 -58.3 20

 Pension fund contributions payable:

 21 Liab.: Nonfinancial corporate business 44.8 -25.5 -8.4 15.4 -0.9 -4.3 -12.9 3.3 -1.4 -6.3 -23.9 21

 22 Asset: Private pension funds 44.8 -25.5 -8.4 15.4 -0.9 -4.3 -12.9 3.3 -1.4 -6.3 -23.9 22

 Securities borrowed (net):

 23 Liab.: Funding corporations -2.1 -353.2 -30.2 -123.5 -74.6 -79.2 -28.9 219.8 -198.4 -309.3 189.1 23

 24 Asset: Brokers and dealers -2.1 -353.2 -30.2 -123.5 -74.6 -79.2 -28.9 219.8 -198.4 -309.3 189.1 24

 Nonmarketable government securities:

 25 Liab.: Federal government 33.3 63.3 61.9 65.7 70.8 40.4 55.8 91.7 85.0 -70.9 167.3 25

 26 Asset: Federal government retirement funds 33.3 63.3 61.9 65.7 70.8 40.4 55.8 91.7 85.0 -70.9 167.3 26

 Retiree health care funds (2):

 27 Liab.: Federal government 43.9 26.5 16.6 22.5 18.5 13.3 -4.6 11.4 -6.7 53.3 -4.5 27

 28 Asset: Household sector 43.9 26.5 16.6 22.5 18.5 13.3 -4.6 11.4 -6.7 53.3 -4.5 28

(1) Reciprocal currency arrangements (swap lines) with foreign central banks.

(2) Includes Uniform Services Retiree Health Care Fund and Postal Service Retiree Health Benefits Fund.
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62 Z.1, June 6, 2013

F.231 Unidentified Miscellaneous Financial Claims

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Net change in liabilities 1358.9 1070.8 -232.8 586.6 227.0 205.1 -215.8 57.4 346.7 632.2 165.0 1

 2 Nonfinancial corporate business 920.9 362.5 -47.4 234.6 168.0 171.4 43.7 256.3 447.0 -61.4 -94.1 2

 3 Nonfinancial noncorporate business 93.9 114.3 32.6 -50.9 32.3 6.0 36.6 5.3 3.9 -21.6 45.5 3

 4 Federal government -0.6 -0.3 2.9 2.4 13.6 -8.3 -14.4 14.9 -14.9 -18.7 16.1 4

 5 Rest of the world 80.9 -339.3 -70.5 226.7 -139.1 22.6 -258.1 148.7 -197.8 397.6 -289.0 5

 6 Monetary authority -0.7 -0.5 1.5 28.3 -27.1 1.5 48.6 -48.3 -22.0 27.6 51.5 6

 7 U.S.-chartered depository institutions -91.7 -86.9 91.2 165.1 -25.4 10.3 326.9 -210.4 98.2 -173.6 266.4 7

 8 Foreign banking offices in U.S. 101.9 489.1 -361.2 29.6 271.3 -32.5 -229.1 189.0 62.4 -152.5 -42.3 8

 9 Banks in U.S.-affiliated areas -11.9 -3.8 4.3 -5.9 -3.9 -2.0 -1.1 -5.0 5.2 -7.2 -3.4 9

 10 Credit unions -5.6 1.1 14.7 -8.3 1.3 0.3 0.3 -8.1 7.0 2.2 8.4 10

 11 Life insurance companies 21.4 -9.0 -43.5 16.1 11.5 22.7 60.0 -20.4 27.5 23.6 -94.4 11

 12 Government-sponsored enterprises 6.7 46.7 61.8 -63.9 -16.2 -5.8 -5.7 9.1 -8.1 -18.5 -10.9 12

 13 Finance companies 12.0 6.5 -71.5 -15.5 -12.8 -28.6 -5.3 -2.2 -139.9 32.9 12.5 13

 14 REITs 4.6 -2.7 -13.8 14.9 8.5 17.0 62.2 -39.5 90.0 -44.9 -17.1 14

 15 Brokers and dealers 20.8 -231.1 183.1 61.5 -60.1 -76.4 26.7 -62.1 3.4 -273.6 259.1 15

 16 Holding companies 6.8 -163.8 -25.6 -68.2 -36.8 -66.0 -130.1 69.8 -235.1 31.3 336.8 16

 17 Funding corporations 199.4 888.0 8.7 20.0 42.0 173.0 -177.0 -239.9 219.9 888.9 -280.0 17

 18 Net change in assets 1735.1 -959.1 31.9 390.3 266.2 333.0 40.0 373.2 -223.1 1142.0 395.7 18

 19 Nonfinancial corporate business 677.8 -619.5 -139.4 153.7 23.6 332.7 102.7 472.0 264.5 491.6 400.3 19

 20 Nonfinancial noncorporate business 326.4 102.9 -82.7 74.7 17.1 25.9 18.8 16.3 12.1 56.2 22.2 20

 21 State and local governments -31.9 88.3 28.7 -11.4 -59.2 -48.7 17.8 -38.6 -98.6 -75.3 -59.0 21

 22 Federal government 0.4 -29.4 32.3 -9.8 -1.3 -3.5 -12.2 -1.2 -0.9 0.4 3.1 22

 23 Rest of the world 417.7 -562.4 89.8 250.0 24.9 99.2 148.9 224.0 -482.3 506.0 -329.8 23

 24 Monetary authority 1.8 0.5 49.6 18.0 43.1 63.4 60.5 69.0 60.7 63.1 80.1 24

 25 U.S.-chartered depository institutions 11.9 85.4 9.9 -84.6 -59.4 -24.3 146.5 -63.7 103.1 -283.1 98.1 25

 26 Foreign banking offices in U.S. 14.7 364.3 -115.8 4.9 222.7 -17.0 -180.1 83.3 87.9 -59.2 37.5 26

 27 Banks in U.S.-affiliated areas 6.1 -1.0 -4.5 4.5 0.8 0.2 0.1 16.0 -10.4 -5.0 -0.6 27

 28 Credit unions 4.6 -0.7 0.6 41.3 -12.8 0.7 15.2 -28.3 29.3 -13.3 9.0 28

 29 Life insurance companies 32.1 28.5 -19.3 -2.0 47.5 41.6 -61.7 34.9 51.2 141.8 -112.6 29

 30 Private pension funds 173.6 -145.8 37.1 12.3 80.5 -31.8 -142.6 40.2 1.4 -26.0 -155.4 30

 31 State and local govt. retirement funds 2.7 -18.4 -8.5 16.1 8.5 -0.4 -6.8 1.1 3.0 1.0 -18.2 31

 32 Money market mutual funds 29.4 -33.9 -8.3 -3.4 -0.8 6.1 -24.7 -48.3 -75.7 173.0 7.6 32

 33 Mutual funds 2.8 3.2 -5.1 -12.0 2.9 -33.1 -161.0 -61.9 18.9 71.4 -0.0 33

 34 Government-sponsored enterprises 27.0 -42.6 1.2 29.3 -0.1 4.1 6.3 -56.4 14.7 51.8 -137.7 34

 35 Finance companies -15.2 -2.8 18.2 -70.9 -3.4 -35.4 -12.9 -70.4 -61.3 3.1 5.2 35

 36 REITs -4.4 -0.8 -8.5 7.4 13.3 22.5 34.3 14.7 13.6 27.5 31.7 36

 37 Brokers and dealers 24.9 -275.1 74.3 5.9 -35.5 6.6 285.6 -130.8 23.3 -151.7 242.3 37

 38 Holding companies 32.7 100.1 82.3 -33.6 -46.2 -75.6 -194.8 -98.8 -177.6 168.6 272.0 38

 39 Discrepancy -376.2 2029.8 -264.7 196.3 -39.2 -127.9 -255.8 -315.8 569.8 -509.9 -230.7 39
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Z.1, June 6, 2013 63

F.11 Sector Discrepancies

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 All sectors -419.2 1131.6 51.5 199.0 -202.0 -270.2 -264.6 -826.6 457.5 -447.0 -305.4 1

 2 Household sector -554.6 22.9 -8.6 -457.7 -725.5 -443.9 -788.4 -800.9 427.6 -613.8 -982.6 2

 3 Nonfinancial corporate business 127.3 934.8 -180.5 268.4 350.4 156.7 50.2 150.8 127.3 298.5 -15.8 3

 4 State and local governments -21.2 -19.4 -22.8 -34.5 -20.0 -18.0 -19.9 -19.9 -15.9 -16.0 -16.0 4

 5 Federal government 24.1 86.8 -44.6 -62.3 -19.0 -113.1 374.5 -162.1 -551.3 -113.3 337.9 5

 6 Rest of the world 98.3 -63.0 143.2 66.8 -87.7 61.2 -110.8 59.1 162.8 133.5 155.7 6

 7 Financial sectors -93.0 169.5 164.9 418.3 299.8 86.9 229.8 -53.5 307.1 -135.9 215.3 7

 8 Monetary authority -2.8 -0.2 -6.0 -10.0 -1.3 2.5 10.4 2.1 2.3 -4.7 -1.5 8

 9 U.S.-chartered depository institutions -129.4 31.7 305.5 311.0 173.2 91.2 299.6 -117.8 315.9 -133.0 165.0 9

 10 Foreign banking officed in U.S. 2.6 -5.1 1.3 1.6 5.0 2.9 4.1 1.1 5.9 0.3 8.0 10

 11 Banks in U.S.-affiliated areas -7.4 -0.5 6.2 -0.0 1.0 -0.1 -0.9 0.7 1.9 -2.0 0.3 11

 12 Credit unions 8.0 12.1 11.5 -5.4 -26.3 5.1 -12.4 22.7 14.3 -4.0 12.8 12

 13 Property-casualty insurance companies 2.8 -0.6 -24.3 68.7 18.3 -9.3 -3.5 -10.2 13.0 -36.5 22.9 13

 14 Life insurance companies -50.8 -59.4 -86.0 -23.5 -14.3 -27.4 -10.1 -50.4 -11.2 -37.7 -11.2 14

 15 Mutual funds 13.4 -5.7 -10.6 -6.2 -16.2 -10.3 -8.0 -11.1 -6.7 -15.4 -12.1 15

 16 Government-sponsored enterprises 27.7 107.8 37.6 44.9 67.4 53.9 79.7 48.0 -14.2 102.1 63.0 16

 17 Issuers of asset-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Finance companies 20.7 36.3 15.7 22.3 21.8 0.5 11.5 3.0 19.7 -32.4 5.3 18

 19 REITs 31.9 -5.8 -15.6 21.2 35.3 32.2 40.3 20.4 19.8 48.4 22.9 19

 20 Brokers and dealers -4.9 72.0 -61.5 -9.2 34.3 -53.8 -180.5 38.5 -53.6 -19.7 -58.9 20

 21 Holding companies -4.9 -12.9 -8.9 2.8 1.5 -0.6 -0.5 -0.6 -0.1 -1.3 -1.1 21

F.12 Instrument Discrepancies

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 All types -419.2 1131.6 51.5 199.0 -202.0 -270.2 -264.6 -826.6 457.5 -447.0 -305.4 1

 2 Treasury currency -1.2 -0.8 -4.4 -1.1 -0.7 -0.6 -0.8 -0.5 -0.5 -0.5 -0.9 2

 3 Foreign deposits 205.3 -330.4 -118.1 6.5 38.3 -18.2 -54.8 -52.3 128.2 -93.9 100.9 3

 4 Net interbank transactions 3.8 60.7 29.1 22.1 20.3 6.6 66.2 -291.0 202.8 48.4 186.7 4

 5 Security RPs -205.0 -590.0 465.4 -76.7 -118.7 -106.6 84.2 -239.8 -317.2 46.4 -513.7 5

 6 Mail floats 1.0 -5.2 -0.3 -1.1 0.8 1.3 -47.4 100.0 1.8 -49.4 -51.5 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 0.0 7

 8 Federal government 1.2 -3.3 0.7 0.0 -0.1 0.6 -46.2 100.3 2.6 -54.2 -45.0 8

 9 Private domestic -0.1 -2.0 -1.0 -1.1 0.9 0.7 -1.1 -0.3 -0.8 4.8 -6.4 9

 10 Trade credit -23.9 29.0 105.4 91.7 -50.4 60.6 17.5 57.9 42.3 124.9 137.6 10

 11 Taxes payable -36.5 -64.0 -32.6 -10.5 -16.0 -40.7 -68.2 -2.8 -26.7 -65.2 9.9 11

 12 Miscellaneous -376.2 2029.8 -264.7 196.3 -39.2 -127.9 -255.8 -315.8 569.8 -509.9 -230.7 12

 13 Nonfinancial 13.5 2.6 -128.2 -28.3 -36.3 -44.8 -5.7 -82.3 -143.1 52.0 56.1 13

 Nonfinancial components (sign reversed):

 14 Statistical discrepancy (NIPA) -12.0 -2.4 118.3 23.3 31.9 40.2 1.1 77.7 138.5 -56.6 -61.5 14

 15 Private wage accruals less disbursements -6.3 -5.0 5.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Contr. for govt. soc. insur., U.S. affiliated areas 4.7 4.8 5.0 4.9 4.4 4.6 4.6 4.6 4.6 4.7 5.3 16
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L.100 Households and Nonprofit Organizations (1)

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

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 52898.0 43436.0 46303.7 50385.8 51310.1 55595.2 53720.7 53097.9 54581.3 55595.2 57697.7 1

 2 Deposits 7494.9 8106.2 8022.4 8003.6 8648.8 9139.3 8686.0 8707.6 8752.4 9139.3 9149.7 2

 3 Foreign deposits 80.5 56.9 50.5 52.1 50.1 47.6 48.3 46.2 48.7 47.6 50.2 3

 4 Checkable deposits and currency 154.9 364.9 393.5 437.9 754.5 884.6 741.0 733.0 727.7 884.6 875.9 4

 5 Time and savings deposits 5912.7 6102.6 6265.1 6384.0 6734.3 7096.9 6844.5 6904.1 6930.6 7096.9 7163.6 5

 6 Money market fund shares 1346.7 1581.8 1313.2 1129.7 1109.9 1110.2 1052.2 1024.2 1045.4 1110.2 1059.9 6

 7 Credit market instruments 4865.4 5204.1 5648.4 5928.1 5401.6 5468.8 5438.4 5414.7 5419.1 5468.8 5464.9 7

 8 Open market paper 107.3 6.0 34.6 31.7 29.1 28.6 29.8 28.9 28.7 28.6 30.0 8

 9 Treasury securities 183.0 269.4 905.9 1265.2 815.8 1197.8 1007.2 1052.2 1081.7 1197.8 1229.4 9

 10 Savings bonds 196.4 194.0 191.2 187.9 185.2 182.4 184.7 184.3 183.6 182.4 181.7 10

 11 Bills and other Treasury securities -13.4 75.4 714.7 1077.3 630.6 1015.4 822.4 867.9 898.1 1015.4 1047.7 11

 12 Agency- and GSE-backed securities 874.3 1097.8 435.7 389.9 372.8 96.9 273.2 237.6 176.0 96.9 10.3 12

 13 Municipal securities 1674.1 1722.0 1829.1 1873.3 1807.7 1656.5 1781.3 1774.4 1709.1 1656.5 1657.7 13

 14 Corporate and foreign bonds 1899.3 1968.1 2314.9 2251.6 2273.3 2402.0 2244.4 2226.0 2331.1 2402.0 2454.6 14

 15 Other loans and advances (2) 17.6 29.7 26.8 26.2 23.4 20.9 26.5 23.2 23.1 20.9 19.9 15

 16 Mortgages 109.8 111.1 101.4 90.2 79.5 66.1 75.9 72.4 69.4 66.1 63.0 16

 17 Corporate equities (3) 10448.0 5954.4 7518.3 8843.9 8866.3 10178.4 9892.2 9534.3 9960.5 10178.4 11242.8 17

 18 Mutual fund shares 4869.1 3313.9 4130.7 4617.8 4453.0 5372.4 5039.4 4893.1 5196.5 5372.4 5779.3 18

 19 Security credit 866.4 742.7 668.6 694.3 752.4 776.0 762.3 777.7 780.2 776.0 776.6 19

 20 Life insurance reserves 1076.8 1049.8 1109.2 1137.2 1203.6 1186.1 1199.4 1172.6 1180.6 1186.1 1202.4 20

 21 Pension fund reserves 13236.1 10567.7 11959.2 13209.9 13434.1 14444.1 14117.1 13943.1 14402.2 14444.1 15007.6 21

 22 Equity in noncorporate business 9329.1 7730.8 6459.8 7120.5 7673.2 8141.4 7713.7 7784.0 8016.5 8141.4 8194.6 22

 23 Miscellaneous assets 712.2 766.3 787.1 830.5 877.2 888.7 872.2 870.9 873.4 888.7 879.8 23

 24 Total liabilities 14253.2 14097.6 13874.8 13636.9 13415.0 13437.7 13374.7 13386.0 13314.1 13437.7 13378.6 24

 25 Credit market instruments 13689.3 13669.0 13397.0 13059.9 12863.7 12819.3 12791.0 12823.0 12726.0 12819.3 12758.4 25

 26 Home mortgages (4) 10580.1 10523.1 10373.5 9895.2 9666.1 9432.0 9584.5 9528.3 9442.1 9432.0 9378.8 26

 27 Consumer credit 2506.3 2525.9 2420.2 2522.2 2615.7 2768.2 2605.9 2646.6 2705.5 2768.2 2762.4 27

 28 Municipal securities 250.2 259.5 265.4 263.2 255.5 241.0 253.8 249.5 245.6 241.0 239.4 28

 29 Depository institution loans n.e.c. (5) 21.8 26.4 10.2 61.0 12.4 66.3 34.8 88.0 23.1 66.3 66.9 29

 30 Other loans and advances 127.0 133.2 133.7 136.1 138.1 139.3 137.8 137.6 138.3 139.3 139.4 30

 31 Commercial mortgages 204.0 200.9 194.1 182.2 175.9 172.5 174.3 173.1 171.4 172.5 171.5 31

 32 Security credit 325.5 164.8 203.0 278.2 238.9 303.7 267.7 244.5 269.1 303.7 306.2 32

 33 Trade payables 214.5 236.7 252.7 274.1 288.2 289.7 289.8 290.5 290.5 289.7 288.1 33

 Deferred and unpaid

 34 life insurance premiums 23.9 27.0 22.1 24.7 24.3 24.9 26.2 28.0 28.4 24.9 25.9 34

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

 outstandings of nonprofit organizations.

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

(3) Directly held and those in closed-end and exchange-traded funds. Other equities are included in mutual fund shares (line 18) and life insurance and pension reserves (lines 20 and 21).

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

(5) Includes loans extended by the Federal Reserve to financial institutions such as domestic hedge funds through the Term Asset-Backed Securities Loan Facility (TALF), shown on table L.108, line 19.
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L.101 Nonfinancial Business (1)

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

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 17358.0 16630.8 16932.5 17720.3 18276.0 19240.2 18492.0 18685.7 18979.8 19240.2 19497.6 1

 2 Foreign deposits 50.3 24.7 31.5 40.6 34.8 13.1 22.1 10.6 10.2 13.1 11.4 2

 3 Checkable deposits and currency 658.8 533.6 696.4 753.4 797.2 847.6 801.2 826.9 863.3 847.6 902.4 3

 4 Time and savings deposits 800.7 740.0 842.1 905.0 922.8 955.8 939.5 935.4 955.3 955.8 960.2 4

 5 Money market fund shares 622.8 802.4 729.2 574.7 540.1 536.9 523.0 511.4 518.5 536.9 527.3 5

 6 Security RPs 8.1 7.2 7.9 12.1 12.6 10.4 13.6 13.9 11.3 10.4 13.0 6

 7 Credit market instruments 355.0 309.5 312.9 325.9 321.6 344.3 324.9 331.9 345.6 344.3 328.5 7

 8 Commercial paper 69.5 57.3 56.0 68.0 68.0 61.8 62.8 58.0 60.6 61.8 64.2 8

 9 Treasury securities 97.7 82.3 89.1 96.1 91.7 107.3 96.6 107.9 112.4 107.3 105.7 9

 10 Agency- and GSE-backed securities 12.8 10.2 14.3 16.0 14.4 14.4 16.0 17.2 18.7 14.4 8.8 10

 11 Municipal securities 34.5 31.1 32.2 29.6 28.2 40.9 31.5 30.6 35.0 40.9 36.2 11

 12 Mortgages 83.5 72.8 67.5 70.1 70.7 71.4 70.8 71.0 71.1 71.4 71.6 12

 13 Consumer credit 57.2 56.0 53.8 46.2 48.5 48.5 47.2 47.3 47.8 48.5 42.0 13

 14 Mutual fund shares 178.0 106.3 162.0 186.8 165.9 181.7 179.1 173.2 179.6 181.7 188.7 14

 15 Trade receivables 2780.0 2607.6 2550.2 2689.2 2776.8 2893.5 2889.5 2966.2 2982.0 2893.5 2950.1 15

 16 Miscellaneous assets 11904.3 11499.5 11600.2 12232.6 12704.4 13456.9 12799.2 12916.0 13114.1 13456.9 13616.0 16

 17 Total liabilities 18264.9 19019.5 18608.1 18874.9 19137.1 19755.6 19223.0 19337.5 19532.9 19755.6 19882.0 17

 18 Credit market instruments 10973.1 11657.4 11302.8 11426.0 11965.0 12728.3 12085.9 12234.0 12446.7 12728.3 12886.9 18

 19 Commercial paper 123.8 131.5 58.4 82.9 116.3 130.5 127.6 132.1 136.1 130.5 140.2 19

 20 Municipal securities 349.0 415.0 452.2 485.4 493.9 509.1 495.2 505.3 504.1 509.1 510.4 20

 21 Corporate bonds 3729.1 3954.5 4366.2 4804.8 5215.6 5795.2 5346.4 5452.9 5599.7 5795.2 5937.7 21

 22 Depository institution loans n.e.c. 1642.4 1826.1 1490.1 1404.6 1530.2 1680.1 1550.9 1597.7 1622.6 1680.1 1681.7 22

 23 Other loans and advances 1481.1 1561.4 1311.1 1153.8 1213.9 1255.2 1199.5 1195.3 1243.5 1255.2 1273.3 23

 24 Mortgages 3647.7 3769.0 3624.8 3494.4 3395.0 3358.2 3366.2 3350.8 3340.7 3358.2 3343.6 24

 25 Trade payables 2272.8 2053.4 1975.8 2159.9 2181.4 2310.7 2206.2 2256.2 2288.4 2310.7 2322.1 25

 26 Taxes payable 135.3 145.1 135.6 142.0 151.9 157.4 162.4 160.0 160.4 157.4 174.7 26

 27 Miscellaneous liabilities 4883.7 5163.6 5193.9 5147.0 4838.8 4559.3 4768.5 4687.4 4637.4 4559.3 4498.3 27

(1) Combined statement for nonfinancial corporate business and nonfinancial noncorporate business.
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L.102 Nonfinancial Corporate Business

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

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 13762.1 12937.7 13340.1 14021.0 14535.5 15451.3 14744.3 14929.8 15217.9 15451.3 15700.3 1

 2 Foreign deposits 50.3 24.7 31.5 40.6 34.8 13.1 22.1 10.6 10.2 13.1 11.4 2

 3 Checkable deposits and currency 143.2 14.2 156.6 231.7 268.8 312.3 271.8 296.3 331.7 312.3 365.8 3

 4 Time and savings deposits 441.3 381.9 488.8 548.7 563.0 591.4 579.0 574.2 593.5 591.4 595.0 4

 5 Money market fund shares 548.5 727.0 655.5 497.8 462.4 458.3 445.2 433.5 440.5 458.3 448.5 5

 6 Security RPs 8.1 7.2 7.9 12.1 12.6 10.4 13.6 13.9 11.3 10.4 13.0 6

 7 Credit market instruments 248.4 213.7 223.7 230.1 224.8 246.3 227.9 234.7 248.3 246.3 230.3 7

 8 Commercial paper 69.5 57.3 56.0 68.0 68.0 61.8 62.8 58.0 60.6 61.8 64.2 8

 9 Treasury securities 38.3 30.5 43.0 48.0 43.2 58.2 48.0 59.1 63.6 58.2 56.5 9

 10 Agency- and GSE-backed securities 12.8 10.2 14.3 16.0 14.4 14.4 16.0 17.2 18.7 14.4 8.8 10

 11 Municipal securities 29.2 26.2 27.1 23.9 22.5 35.1 25.8 24.9 29.3 35.1 30.4 11

 12 Mortgages 41.4 33.6 29.5 28.0 28.2 28.4 28.2 28.3 28.3 28.4 28.4 12

 13 Consumer credit 57.2 56.0 53.8 46.2 48.5 48.5 47.2 47.3 47.8 48.5 42.0 13

 14 Mutual fund shares 178.0 106.3 162.0 186.8 165.9 181.7 179.1 173.2 179.6 181.7 188.7 14

 15 Trade receivables 2254.4 2084.9 2053.9 2155.9 2238.0 2347.9 2349.8 2425.3 2440.3 2347.9 2403.3 15

 16 Miscellaneous assets 9890.0 9377.7 9560.2 10117.3 10565.2 11290.0 10655.9 10768.1 10962.6 11290.0 11444.3 16

 17 U.S. direct investment abroad (1) 2892.9 3011.1 3219.1 3434.7 3794.6 4046.5 3903.2 3919.8 3988.7 4046.5 4233.0 17

 18 Insurance receivables 299.9 311.1 310.2 313.2 328.7 332.2 326.3 327.2 327.7 332.2 329.3 18

 19 Equity in GSEs 0.7 0.4 0.5 0.6 0.5 0.6 0.7 0.6 0.6 0.6 0.7 19

 20 Investment in finance company subs. 81.5 80.5 71.2 61.4 69.9 69.5 67.1 64.5 64.2 69.5 68.5 20

 21 Other 6614.9 5974.7 5959.2 6307.4 6371.4 6841.2 6358.7 6456.0 6581.5 6841.2 6812.9 21

 22 Total liabilities 12916.0 13225.0 12898.5 13221.4 13433.1 13968.2 13500.9 13597.6 13780.4 13968.2 14073.2 22

 23 Credit market instruments 7198.5 7564.0 7329.5 7485.9 8012.6 8704.7 8125.4 8257.6 8459.6 8704.7 8859.1 23

 24 Commercial paper 123.8 131.5 58.4 82.9 116.3 130.5 127.6 132.1 136.1 130.5 140.2 24

 25 Municipal securities (2) 349.0 415.0 452.2 485.4 493.9 509.1 495.2 505.3 504.1 509.1 510.4 25

 26 Corporate bonds (1) 3729.1 3954.5 4366.2 4804.8 5215.6 5795.2 5346.4 5452.9 5599.7 5795.2 5937.7 26

 27 Depository institution loans n.e.c. 715.9 780.0 546.0 480.9 549.8 609.8 542.4 566.2 574.8 609.8 606.2 27

 28 Other loans and advances (3) 1316.1 1384.0 1139.1 979.7 1039.3 1071.4 1023.3 1017.3 1063.2 1071.4 1089.9 28

 29 Mortgages 964.7 899.0 767.6 652.2 597.7 588.7 590.5 583.9 581.7 588.7 574.7 29

 30 Trade payables 1897.9 1672.7 1587.5 1743.2 1760.7 1885.6 1785.1 1834.8 1866.3 1885.6 1891.6 30

 31 Taxes payable 35.8 39.0 35.7 42.9 51.7 55.7 61.9 59.3 59.5 55.7 72.7 31

 32 Miscellaneous liabilities 3783.7 3949.2 3945.7 3949.5 3608.2 3322.2 3528.5 3446.0 3395.0 3322.2 3249.8 32

 33 Foreign direct investment in U.S. 1961.9 2050.3 1986.4 2119.9 2361.1 2514.4 2389.1 2442.4 2483.0 2514.4 2580.2 33

 34 Pension fund contributions payable 109.5 84.0 75.6 91.1 90.1 85.8 86.9 87.7 87.4 85.8 79.8 34

 35 Other 1712.2 1814.9 1883.7 1738.5 1156.9 722.0 1052.5 915.9 824.7 722.0 589.8 35

 Memo:

 36 Trade receivables net of payables 356.5 412.2 466.3 412.7 477.3 462.3 564.6 590.5 574.0 462.3 511.7 36

 37 Market value of equities 15730.7 10016.6 12512.2 14441.8 14508.5 16162.3 16070.6 15539.0 16340.7 16162.3 17858.9 37

 38 Securities and mortgages 5042.8 5268.5 5586.0 5942.4 6307.2 6893.0 6432.1 6542.0 6685.5 6893.0 7022.8 38

 39 Loans and short-term paper 2155.8 2295.5 1743.5 1543.5 1705.3 1811.7 1693.3 1715.6 1774.2 1811.7 1836.3 39

 40 Total short-term liabilities (4) 4089.5 4007.2 3366.7 3329.5 3517.7 3752.9 3540.4 3609.6 3700.0 3752.9 3800.6 40

 41 Total liquid assets (5) 1519.1 1385.4 1642.7 1673.7 1655.6 1736.5 1663.2 1660.9 1738.9 1736.5 1782.3 41

 Analytical measures (percent)

 42 Long-term debt/credit market debt 70.1 69.7 76.2 79.4 78.7 79.2 79.2 79.2 79.0 79.2 79.3 42

 43 Short-term debt/credit market debt 29.9 30.3 23.8 20.6 21.3 20.8 20.8 20.8 21.0 20.8 20.7 43

 44 Liquid assets/short-term liabilities 37.1 34.6 48.8 50.3 47.1 46.3 47.0 46.0 47.0 46.3 46.9 44

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

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

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

(4) Sum of lines 24, 27, 28, 30, and 31. Includes loans due in more than one year and excludes current maturities of bonds and mortgages.

(5) Sum of lines 2 through 6, lines 8 through 11, and line 14.
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L.103 Nonfinancial Noncorporate Business

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

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 3595.9 3693.2 3592.3 3699.3 3740.6 3788.9 3747.7 3755.9 3761.9 3788.9 3797.3 1

 2 Checkable deposits and currency 515.6 519.4 539.8 521.8 528.4 535.4 529.4 530.6 531.6 535.4 536.6 2

 3 Time and savings deposits 359.3 358.1 353.3 356.2 359.8 364.4 360.5 361.3 361.8 364.4 365.2 3

 4 Money market fund shares 74.3 75.4 73.7 76.8 77.7 78.7 77.8 78.0 78.1 78.7 78.8 4

 5 Credit market instruments 106.7 95.8 89.1 95.8 96.8 98.0 96.9 97.1 97.3 98.0 98.2 5

 6 Treasury securities 59.3 51.8 46.1 48.1 48.5 49.2 48.6 48.7 48.8 49.2 49.3 6

 7 Municipal securities 5.3 4.9 5.1 5.6 5.7 5.8 5.7 5.7 5.7 5.8 5.8 7

 8 Mortgages 42.1 39.1 37.9 42.1 42.5 43.1 42.6 42.7 42.8 43.1 43.2 8

 9 Consumer credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Trade receivables 525.6 522.7 496.3 533.4 538.8 545.6 539.7 540.9 541.7 545.6 546.8 10

 11 Miscellaneous assets 2014.3 2121.8 2040.0 2115.3 2139.2 2166.9 2143.3 2148.0 2151.5 2166.9 2171.7 11

 12 Insurance receivables 107.3 111.5 112.4 112.6 119.0 120.7 118.4 119.1 119.4 120.7 120.1 12

 13 Equity investment in GSEs (1) 5.0 6.4 6.3 6.7 7.0 7.1 7.1 7.0 7.1 7.1 7.1 13

 14 Other 1902.0 2003.9 1921.3 1996.0 2013.1 2039.0 2017.8 2021.9 2024.9 2039.0 2044.6 14

 15 Total liabilities 5349.0 5794.5 5709.6 5653.5 5704.0 5787.5 5722.1 5739.9 5752.5 5787.5 5808.8 15

 16 Credit market instruments 3774.6 4093.4 3973.3 3940.0 3952.4 4023.6 3960.5 3976.3 3987.1 4023.6 4027.9 16

 17 Depository institution loans n.e.c. 926.5 1046.1 944.1 923.7 980.4 1070.3 1008.6 1031.5 1047.7 1070.3 1075.5 17

 18 Other loans and advances 165.1 177.4 172.0 174.1 174.7 183.9 176.2 177.9 180.3 183.9 183.4 18

 19 Mortgages 2683.0 2869.9 2857.2 2842.2 2797.3 2769.4 2775.7 2766.9 2759.0 2769.4 2769.0 19

 20 Trade payables 374.9 380.7 388.3 416.8 420.7 425.1 421.0 421.4 422.1 425.1 430.5 20

 21 Taxes payable 99.5 106.2 99.9 99.2 100.3 101.7 100.5 100.7 100.9 101.7 101.9 21

 22 Miscellaneous liabilities 1100.0 1214.3 1248.1 1197.6 1230.6 1237.0 1240.1 1241.4 1242.4 1237.0 1248.5 22

(1) Equity in the Farm Credit System.
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L.104 State and Local Governments (1)

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

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 2516.7 2356.8 2349.8 2337.5 2198.2 2104.2 2185.8 2180.0 2150.7 2104.2 2108.2 1

 2 Checkable deposits and currency 71.4 79.9 99.1 104.6 121.4 118.0 119.0 117.1 111.8 118.0 115.4 2

 3 Time and savings deposits 220.0 238.9 248.1 241.3 256.5 292.3 275.2 271.0 284.4 292.3 298.5 3

 4 Money market fund shares 116.6 113.3 122.2 130.1 126.8 119.8 125.8 124.6 123.1 119.8 120.1 4

 5 Security RPs 132.8 117.2 113.3 108.3 100.0 94.5 99.2 98.3 97.1 94.5 94.7 5

 6 Credit market instruments 1534.8 1330.6 1255.7 1291.1 1200.6 1148.5 1184.6 1183.4 1170.3 1148.5 1151.9 6

 7 Open market paper 139.3 57.4 -15.8 44.4 68.3 62.3 67.5 66.5 65.2 62.3 62.6 7

 8 Treasury securities 588.1 526.7 547.7 539.8 486.3 478.4 484.4 490.7 483.1 478.4 474.5 8

 9 Agency- and GSE-backed securities 467.6 431.4 400.3 385.0 338.1 315.2 327.3 323.5 322.3 315.2 320.3 9

 10 Municipal securities 9.5 9.4 10.3 11.1 10.9 10.3 10.8 10.7 10.6 10.3 10.4 10

 11 Corporate and foreign bonds 149.1 137.8 140.8 142.5 135.6 128.1 134.5 133.3 131.6 128.1 128.5 11

 12 Mortgages 181.2 167.9 172.4 168.2 161.4 154.2 160.1 158.6 157.5 154.2 155.6 12

 13 Corporate equities 94.5 60.5 80.9 77.9 72.3 68.3 71.7 71.0 70.2 68.3 68.5 13

 14 Mutual fund shares 38.4 36.1 37.6 38.8 37.2 35.2 36.9 36.6 36.1 35.2 41.3 14

 15 Trade receivables 69.9 47.6 29.0 9.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Taxes receivable 115.7 117.9 111.1 104.7 110.0 112.3 111.9 114.1 112.3 112.3 116.0 16

 17 Miscellaneous assets 122.6 215.1 252.7 231.1 173.5 115.4 161.5 163.9 145.5 115.4 101.9 17

 18 Total liabilities 3390.9 3448.1 3600.7 3710.3 3697.8 3732.9 3709.0 3726.0 3728.1 3732.9 3757.9 18

 19 Credit market instruments 2837.5 2855.4 2968.4 3038.0 2985.3 2980.0 2986.3 2993.3 2985.3 2980.0 2994.9 19

 20 Municipal securities 2825.6 2842.7 2954.9 3023.6 2970.0 2964.3 2970.9 2977.7 2969.7 2964.3 2978.9 20

 21 Short-term (2) 51.2 55.8 63.6 63.0 52.3 56.1 51.9 43.4 55.7 56.1 54.5 21

 22 Long-term 2774.4 2786.9 2891.3 2960.6 2917.6 2908.2 2919.0 2934.3 2914.0 2908.2 2924.4 22

 23 U.S. government loans 11.9 12.7 13.5 14.4 15.3 15.7 15.4 15.7 15.6 15.7 16.0 23

 24 Trade payables 553.5 592.7 632.3 672.3 712.5 752.9 722.6 732.7 742.8 752.9 763.0 24

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

(2) Debt with original maturity of 13 months or less.
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L.105 Federal Government

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

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 681.2 1261.5 1342.7 1564.8 1337.5 1415.6 1296.1 1361.2 1393.1 1415.6 1435.0 1

 2 U.S. official reserve assets 36.4 41.9 94.6 95.4 103.9 102.8 104.5 103.1 104.7 102.8 99.0 2

 3 Checkable deposits and currency 56.5 368.0 193.6 342.1 84.3 92.0 42.0 89.3 83.4 92.0 79.4 3

 4 Time and savings deposits 2.8 1.6 1.9 2.0 1.7 2.0 2.0 2.2 2.1 2.0 1.6 4

 5 Credit market instruments 281.1 366.4 661.8 746.9 746.2 828.5 755.8 775.0 811.5 828.5 864.6 5

 6 Agency- and GSE-backed securities 0.0 54.4 196.4 149.2 31.1 0.0 1.5 0.0 0.0 0.0 0.0 6

 7 Corporate and foreign bonds 0.0 0.0 0.6 0.9 0.8 0.6 0.8 0.8 0.7 0.6 0.6 7

 8 Other loans and advances 105.8 111.8 177.9 181.4 186.3 188.8 189.3 191.4 189.4 188.8 190.0 8

 9 Mortgages 82.4 95.8 108.4 106.6 110.6 112.3 111.7 112.2 112.0 112.3 113.2 9

 10 Consumer credit (1) 93.0 104.3 178.6 308.8 417.4 526.8 452.6 470.7 509.5 526.8 560.8 10

 11 Corporate equities (2) 0.0 188.7 67.4 49.9 57.8 39.9 48.2 43.6 41.2 39.9 38.6 11

 12 Trade receivables 60.6 64.7 43.6 42.9 47.7 50.1 49.0 50.6 51.5 50.1 49.6 12

 13 Taxes receivable 105.0 119.4 133.9 144.3 152.8 158.1 154.2 155.5 156.8 158.1 159.5 13

 14 Miscellaneous assets 138.7 110.8 145.8 141.4 143.1 142.3 140.5 141.9 141.9 142.3 142.7 14

 15 Total liabilities 6537.4 7888.4 9405.9 11079.7 12246.5 13449.6 12637.5 12846.7 13097.9 13449.6 13799.6 15

 16 SDR allocations 7.7 7.5 55.4 54.4 54.2 54.3 54.7 53.6 54.5 54.3 52.9 16

 17 SDR certificates 2.2 2.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 17

 18 Treasury currency 27.4 26.6 26.2 25.9 25.9 25.9 25.9 25.9 25.9 25.9 25.9 18

 19 Credit market instruments 5122.3 6361.5 7805.4 9385.6 10453.6 11593.7 10851.9 11050.1 11279.9 11593.7 11930.1 19

 20 Savings bonds 196.4 194.0 191.2 187.9 185.2 182.4 184.7 184.3 183.6 182.4 181.7 20

 21 Treasury bills 999.5 1861.2 1787.9 1768.9 1519.5 1626.5 1672.6 1594.4 1613.0 1626.5 1788.2 21

 22 Other Treasury securities 3903.3 4283.0 5802.8 7404.7 8723.7 9760.0 8970.1 9246.9 9458.9 9760.0 9935.6 22

 23 Budget agency securities 23.1 23.3 23.5 24.2 25.3 24.9 24.4 24.5 24.4 24.9 24.6 23

 24 Multifamily residential mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 Trade payables 238.2 260.8 204.6 210.8 219.6 228.9 229.4 232.1 234.8 228.9 233.6 25

 26 Insurance reserves 45.4 46.4 47.5 48.4 49.7 50.0 49.8 50.2 50.1 50.0 50.1 26

 27 Miscellaneous liabilities (3) 1094.2 1183.5 1261.6 1349.4 1438.3 1491.6 1420.6 1429.6 1447.6 1491.6 1501.8 27

 28 Nonmarketable securities held by pension plans 952.0 1015.3 1077.2 1142.9 1213.7 1254.1 1197.2 1203.5 1223.3 1254.1 1265.5 28

 29 Other 142.2 168.2 184.4 206.5 224.6 237.5 223.4 226.1 224.3 237.5 236.3 29

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

 the government purchased from depository institutions and finance companies.

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

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

 retirement fund, and foreign service retirement and disability fund.
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L.106 Rest of the World

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

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 16037.6 15239.6 15806.6 17405.5 18801.8 20161.1 19459.9 19496.8 20085.2 20161.1 20091.0 1

 2 SDR allocations 7.7 7.5 55.4 54.4 54.2 54.3 54.7 53.6 54.5 54.3 52.9 2

 3 Net interbank assets 53.7 464.5 194.0 145.9 367.0 213.1 391.8 400.0 350.1 213.1 339.7 3

 4 U.S. checkable deposits and currency 306.1 370.1 361.0 390.5 472.3 540.4 486.9 496.2 519.4 540.4 543.1 4

 5 U.S. time deposits 207.6 273.1 230.0 246.9 280.0 326.0 271.5 284.9 296.7 326.0 308.9 5

 6 Money market fund shares 46.0 69.7 76.9 69.8 79.5 114.3 91.6 107.6 110.7 114.3 115.3 6

 7 Security RPs (net) 338.4 114.9 31.0 -96.1 -44.9 -84.7 -83.2 -117.6 -98.6 -84.7 -11.8 7

 8 Credit market instruments 7272.2 7523.7 7723.4 8498.9 9122.0 9640.1 9190.6 9291.8 9543.7 9640.1 9820.0 8

 9 Open market paper 278.1 232.9 191.5 191.0 191.7 195.2 203.3 188.9 190.2 195.2 203.9 9

 10 Treasury securities 2376.4 3253.0 3670.6 4466.6 5071.1 5526.1 5131.5 5297.1 5448.8 5526.1 5701.4 10

 11 Official 1736.7 2400.5 2879.6 3364.8 3653.1 3985.8 3696.6 3820.7 3925.3 3985.8 4059.3 11

 12 Private 639.8 852.5 791.0 1101.8 1418.1 1540.2 1434.9 1476.4 1523.5 1540.2 1642.2 12

 13 Agency- and GSE-backed securities 1582.4 1406.9 1154.9 1084.0 1089.6 1125.9 1088.5 1087.7 1120.2 1125.9 1087.2 13

 14 Official 954.3 940.5 749.0 661.2 648.2 631.4 642.4 632.5 639.6 631.4 609.8 14

 15 Private 628.0 466.4 405.9 422.8 441.4 494.5 446.2 455.2 480.6 494.5 477.4 15

 16 Municipal securities 45.1 51.0 58.7 71.7 70.3 65.4 71.6 70.1 72.7 65.4 63.7 16

 17 U.S. corporate bonds (1) 2719.1 2353.5 2465.3 2523.3 2503.2 2580.6 2524.1 2482.0 2550.8 2580.6 2618.5 17

 18 Loans to U.S. corporate business 271.1 226.4 182.5 162.3 196.1 146.9 171.6 166.0 161.1 146.9 145.2 18

 19 U.S. corporate equities 2811.3 1807.1 2476.7 2962.0 2783.0 3106.1 3109.5 2903.5 3137.5 3106.1 3445.8 19

 20 Mutual fund shares 374.3 255.6 364.1 513.8 735.4 957.7 847.8 901.5 927.9 957.7 1028.7 20

 21 Trade receivables 83.6 90.1 96.7 116.3 133.5 144.7 137.4 139.3 145.9 144.7 146.9 21

 22 Security credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 Miscellaneous assets 4536.5 4263.3 4197.4 4503.1 4819.8 5149.1 4961.2 5036.0 5097.5 5149.1 4301.5 23

 24 Foreign direct investment in U.S. (2) 2345.9 2397.4 2398.2 2597.7 2908.8 3070.4 2932.2 2992.7 3037.5 3070.4 3144.8 24

 25 Other 2190.6 1865.9 1799.2 1905.4 1911.0 2078.7 2029.0 2043.3 2060.0 2078.7 1156.7 25

 26 Total liabilities 8704.4 8844.2 9079.1 9807.3 10080.6 10324.4 10127.5 10012.3 10264.0 10324.4 10057.2 26

 27 U.S. official reserve assets (3) 59.5 66.6 119.7 121.4 129.6 127.5 129.8 128.1 130.3 127.5 122.5 27

 28 U.S. private deposits 1340.9 946.7 840.6 866.5 834.1 792.1 803.0 769.4 810.6 792.1 823.7 28

 29 Credit market instruments 2126.3 1708.8 2090.3 2225.3 2276.7 2414.7 2318.3 2297.9 2366.0 2414.7 2532.9 29

 30 Commercial paper 413.0 342.0 401.3 398.6 345.1 372.7 362.6 357.4 366.4 372.7 407.2 30

 31 Bonds 1587.1 1237.3 1570.3 1689.5 1763.8 1843.6 1775.3 1748.0 1802.3 1843.6 1917.2 31

 32 Depository institution loans n.e.c. 102.8 107.9 96.8 115.1 144.3 165.5 153.6 164.8 167.0 165.5 176.8 32

 33 Official 1.9 2.6 3.2 4.3 2.6 2.0 2.5 2.2 2.1 2.0 2.6 33

 34 Banks 30.2 33.0 27.9 39.7 51.0 49.2 51.6 54.4 50.8 49.2 55.5 34

 35 Other 70.8 72.4 65.8 71.2 90.7 114.4 99.5 108.3 114.2 114.4 118.7 35

 36 Other loans and advances 23.4 21.6 21.9 22.1 23.5 32.8 26.7 27.8 30.2 32.8 31.6 36

 37 Trade payables 73.1 63.2 69.3 95.1 63.0 69.3 66.9 68.0 67.4 69.3 67.5 37

 38 Security debt 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 38

 39 Miscellaneous liabilities 5104.6 6059.0 5959.1 6498.9 6777.2 6920.9 6809.6 6748.9 6889.7 6920.9 6510.6 39

 40 U.S. equity in IBRD, etc. 46.9 48.3 50.0 52.3 54.9 57.5 55.2 57.0 57.2 57.5 57.2 40

 41 Nonofficial foreign currencies 24.5 554.2 10.9 0.8 100.5 9.5 47.2 28.7 13.3 9.5 8.7 41

 42 U.S. direct investment abroad (1,2) 3553.1 3748.5 4029.5 4306.8 4681.6 4944.4 4801.2 4826.0 4897.8 4944.4 5126.3 42

 43 Investment by holding companies 110.6 101.5 125.1 135.6 166.3 114.7 185.6 166.1 154.0 114.7 137.2 43

 44 Other 1369.5 1606.4 1743.7 2003.3 1774.0 1794.7 1720.4 1671.1 1767.4 1794.7 1181.2 44

 Memo:

 45 Market value of foreign equities 5248.0 2748.4 3995.3 4646.9 4158.2 4919.5 4649.6 4306.9 4629.9 4919.5 5106.1 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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L.107 Financial Business (1)

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

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 63371.0 62320.5 63943.8 64578.0 66063.5 70175.6 68349.8 67926.5 69284.5 70175.6 71990.1 1

 2 U.S. official reserve assets 34.2 35.7 36.2 37.0 36.8 35.8 36.4 36.1 36.6 35.8 34.5 2

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

 4 Treasury currency 38.7 38.7 42.7 43.5 44.2 44.8 44.4 44.5 44.6 44.8 45.0 4

 5 Foreign deposits 100.2 85.6 97.1 105.9 42.9 43.3 40.1 33.0 40.2 43.3 48.7 5

 6 Net interbank assets 124.4 1475.9 1126.4 1019.6 1622.6 1561.7 1605.7 1563.0 1496.2 1561.7 1849.4 6

 7 Checkable deposits and currency 275.1 378.3 343.6 325.6 358.1 368.3 323.7 324.6 327.9 368.3 356.2 7

 8 Time and savings deposits 462.9 584.8 729.0 653.3 609.8 639.3 582.0 570.4 611.3 639.3 629.6 8

 9 Money market fund shares 901.0 1190.2 1017.1 851.2 786.4 768.4 742.9 700.1 709.2 768.4 731.4 9

 10 Federal funds and security RPs 947.5 880.1 824.3 838.0 779.9 929.5 828.2 887.6 935.1 929.5 931.2 10

 11 Credit market instruments 36644.5 38618.9 37650.2 36830.0 37797.7 39017.1 38128.3 38235.3 38465.3 39017.1 39369.4 11

 12 Open market paper 1194.8 1246.2 871.7 722.5 612.1 604.5 631.1 619.8 612.6 604.5 640.4 12

 13 Treasury securities 1854.0 2206.9 2568.6 2993.9 3963.3 4259.3 4107.7 4077.7 4129.6 4259.3 4394.5 13

 14 Agency- and GSE-backed securities 4460.7 5166.0 5905.1 5574.0 5731.4 6002.2 5826.5 5875.6 5906.8 6002.2 6164.2 14

 15 Municipal securities 1661.7 1703.8 1742.2 1786.4 1802.2 1941.3 1824.8 1846.6 1892.0 1941.3 1960.7 15

 16 Corporate and foreign bonds 6809.4 6710.3 6732.4 6898.1 7062.7 7512.8 7262.9 7304.8 7407.4 7512.8 7589.5 16

 17 Depository institution loans n.e.c. 2060.1 2750.0 2021.7 1954.3 2086.8 2250.6 2101.9 2150.1 2178.0 2250.6 2257.7 17

 18 Other loans and advances 2116.1 2261.3 1711.0 1429.8 1398.2 1503.0 1382.1 1409.0 1458.4 1503.0 1514.9 18

 19 Mortgages 14131.6 14208.9 13909.6 13303.8 12991.1 12750.5 12885.1 12823.0 12732.2 12750.5 12688.0 19

 20 Consumer credit 2356.1 2365.6 2187.8 2167.3 2149.7 2192.9 2106.2 2128.6 2148.3 2192.9 2159.6 20

 21 Corporate equities 12227.1 7629.8 9942.4 11437.0 10957.9 12635.7 12311.4 11799.1 12532.9 12635.7 13642.7 21

 22 Mutual fund shares 2362.8 1676.0 2226.2 2515.8 2479.4 2776.6 2694.2 2649.0 2790.9 2776.6 2976.7 22

 23 Trade receivables 197.1 182.2 144.2 135.6 134.8 133.2 136.4 134.4 135.9 133.2 133.7 23

 24 Security credit 660.0 385.8 422.6 520.5 560.2 736.4 613.3 632.5 702.2 736.4 707.9 24

 25 Life insurance reserves 124.7 130.0 132.8 141.1 148.4 172.9 167.5 169.7 172.7 172.9 176.7 25

 26 Miscellaneous assets 8268.8 9026.3 9203.7 9118.7 9699.1 10307.3 10090.2 10142.1 10278.5 10307.3 10351.7 26

 27 Total liabilities 60249.3 59436.7 60459.0 60899.2 62397.7 66040.6 64300.1 63878.7 65281.5 66040.6 67715.9 27

 28 Net interbank liabilities 136.3 1922.9 1325.6 1189.3 2016.0 1828.8 2027.5 1980.0 1911.3 1828.8 2271.1 28

 29 Checkable deposits and currency 1532.9 2101.3 2093.4 2359.8 2594.3 2857.8 2520.5 2594.3 2640.4 2857.8 2877.1 29

 30 Time and savings deposits 7606.7 7940.9 8316.3 8432.4 8805.2 9312.4 8914.8 8968.0 9080.4 9312.4 9362.4 30

 31 Money market fund shares 3033.0 3757.3 3258.6 2755.4 2642.5 2649.6 2535.5 2467.9 2506.9 2649.6 2554.0 31

 32 Federal funds and security RPs 2150.4 1262.5 1496.9 1276.0 1148.0 1122.9 1194.6 1183.6 1149.0 1122.9 1097.5 32

 33 Credit market instruments 16204.5 17101.0 15688.5 14486.0 14045.4 13911.3 13989.3 13833.8 13951.5 13911.3 13896.2 33

 34 Open market paper 1252.1 1126.3 678.2 576.0 507.9 449.2 504.3 472.6 454.7 449.2 453.8 34

 35 Agency- and GSE-backed securities 7374.6 8143.4 8083.3 7574.0 7552.1 7529.7 7508.5 7517.2 7519.5 7529.7 7566.2 35

 36 Corporate and foreign bonds 6260.8 5977.9 5717.5 5322.1 4996.2 4985.3 5045.0 4946.0 5019.6 4985.3 4936.8 36

 37 Depository institution loans n.e.c. 293.1 789.5 424.7 373.7 399.9 338.7 362.6 299.7 365.3 338.7 332.2 37

 38 Other loans and advances 867.1 900.5 617.9 473.2 413.1 416.6 390.2 413.3 404.4 416.6 409.7 38

 39 Mortgages 156.7 163.5 166.9 167.1 176.2 191.8 178.8 185.0 188.0 191.8 197.4 39

 40 Mutual fund shares 7822.6 5388.0 6920.7 7873.0 7870.9 9323.6 8797.4 8653.4 9131.0 9323.6 10014.6 40

 41 Trade payables 45.8 21.2 70.1 18.1 14.3 14.2 17.3 13.5 13.0 14.2 15.3 41

 42 Security credit 1200.9 963.6 888.2 936.6 1073.7 1208.7 1107.8 1165.7 1213.2 1208.7 1178.2 42

 43 Life insurance reserves 1156.1 1133.4 1194.5 1229.9 1302.3 1309.0 1317.1 1292.1 1303.1 1309.0 1329.1 43

 44 Pension fund reserves 13236.1 10567.7 11959.2 13209.9 13434.1 14444.1 14117.1 13943.1 14402.2 14444.1 15007.6 44

 45 Taxes payable 32.4 -101.1 -95.0 -87.8 -76.9 -76.2 -76.9 -76.9 -67.4 -76.2 -65.1 45

 46 Miscellaneous liabilities 6091.4 7378.0 7342.1 7220.8 7527.9 8134.2 7838.2 7860.2 8046.9 8134.2 8177.9 46

 Memo:

 47 Market value of corporate equities 4602.2 2875.4 3578.1 4282.1 4070.5 4946.5 4712.8 4505.6 4771.5 4946.5 5473.4 47

 48 Equity in noncorporate business 11.6 9.5 12.1 13.8 12.8 18.2 17.8 17.9 18.6 18.2 16.7 48

(1) Sum of financial sectors shown on tables L.108 and L.110 through L.129.
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L.108 Monetary Authority (1)

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

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 951.3 2270.6 2267.2 2453.2 2947.2 2954.9 2886.7 2883.3 2837.6 2954.9 3243.8 1

 2 U.S. official reserve assets 34.2 35.7 36.2 37.0 36.8 35.8 36.4 36.1 36.6 35.8 34.5 2

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

 4 Treasury currency 38.7 38.7 42.7 43.5 44.2 44.8 44.4 44.5 44.6 44.8 45.0 4

 5 Federal Reserve float (2) -0.0 -1.5 -2.1 -1.4 -0.6 -0.5 -0.7 -0.7 -0.6 -0.5 -0.6 5

 6 Interbank loans (2) 48.6 559.7 96.6 0.2 0.2 0.1 0.0 0.1 0.1 0.1 0.0 6

 7 Discount window (3) 48.6 544.0 96.6 0.2 0.2 0.1 0.0 0.1 0.1 0.1 0.0 7

 8 AMLF (4) 0.0 15.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Security RPs 46.5 80.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Credit market instruments 740.6 986.0 1987.7 2259.2 2635.6 2670.1 2613.4 2610.9 2565.1 2670.1 2939.8 10

 11 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Treasury securities 740.6 475.9 776.6 1021.5 1663.4 1666.1 1661.1 1659.9 1645.3 1666.1 1796.0 12

 13 Treasury bills 227.8 18.4 18.4 18.4 18.4 0.0 18.4 18.4 0.0 0.0 0.0 13

 14 Other Treasury securities 512.8 457.5 758.2 1003.1 1645.0 1666.1 1642.7 1641.5 1645.3 1666.1 1796.0 14

 15 Agency- and GSE-backed securities 0.0 19.7 1068.3 1139.6 941.7 1003.4 933.3 946.5 918.4 1003.4 1143.4 15

 16 Mortgage-backed securities 0.0 0.0 908.4 992.1 837.7 926.7 836.8 855.0 835.0 926.7 1070.9 16

 17 Other agency- and GSE-backed securities 0.0 19.7 159.9 147.5 104.0 76.8 96.5 91.5 83.4 76.8 72.4 17

 18 Depository institution loans n.e.c. 0.0 490.4 142.8 98.1 30.5 0.6 19.0 4.5 1.5 0.6 0.4 18

 19 Households (TALF) (5) 0.0 0.0 47.5 24.7 9.0 0.6 7.1 4.5 1.5 0.6 0.4 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 0.0 20

 21 Brokers and dealers (6) 0.0 45.5 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 29.1 29.2 25.8 4.9 0.0 2.9 0.0 0.0 0.0 0.0 22

 23 Funding corporations (AIG) 0.0 38.9 22.2 20.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 Funding corporations (Maiden Lane II) (8) 0.0 19.5 16.0 13.5 6.8 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 Funding corporations (Maiden Lane III)(9) 0.0 24.4 18.5 14.1 9.8 0.0 9.0 0.0 0.0 0.0 0.0 25

 26 Funding corporations (CPFF) (10) 0.0 333.0 9.4 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 25.1 26.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

 28 Miscellaneous assets 40.5 569.8 75.9 83.1 225.8 199.5 188.1 187.2 186.5 199.5 219.9 28

 29 Nonofficial foreign currencies (12) 24.0 553.7 10.3 0.1 99.8 8.9 46.5 28.0 12.6 8.9 8.1 29

 30 Other 16.5 16.1 65.6 83.0 126.0 190.6 141.6 159.3 174.0 190.6 211.9 30

 31 Total liabilities 932.8 2249.6 2241.6 2426.7 2920.3 2927.6 2859.5 2855.9 2810.2 2927.6 3216.3 31

 32 Depository institution reserves 20.8 860.0 977.0 968.1 1562.3 1491.0 1549.9 1507.0 1440.4 1491.0 1790.4 32

 33 Vault cash of depository institutions 55.0 57.7 54.9 52.7 60.8 71.1 56.5 56.6 56.3 71.1 59.7 33

 34 Checkable deposits and currency 792.1 1220.3 1102.7 1287.8 1165.7 1224.6 1122.7 1178.4 1185.9 1224.6 1226.1 34

 35 Due to federal government 16.4 365.7 191.9 340.9 85.9 92.9 43.6 91.5 85.6 92.9 79.4 35

 36 Treasury cash holdings 0.3 0.3 0.2 0.2 0.1 0.2 0.2 0.1 0.1 0.2 0.2 36

 37 Treasury general deposit account 16.1 106.1 186.6 140.8 85.7 92.7 43.5 91.4 85.4 92.7 79.2 37

 38 Treasury temporary supplementary financing account 0.0 259.3 5.0 200.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 38

 39 Due to rest of the world 0.1 1.4 2.4 3.4 0.2 6.5 0.2 1.6 5.7 6.5 9.2 39

 40 Due to government-sponsored enterprises 1.7 21.1 35.1 13.5 64.6 27.2 36.9 29.9 22.6 27.2 20.2 40

 41 Currency outside banks 773.9 832.2 873.3 930.0 1015.0 1098.1 1042.1 1055.3 1072.1 1098.1 1117.3 41

 42 Security RPs 44.0 88.4 77.7 59.7 99.9 107.2 96.7 85.5 92.7 107.2 105.5 42

 43 Miscellaneous liabilities 21.0 23.1 29.2 58.4 31.7 33.7 33.7 28.5 34.9 33.7 34.7 43

 44 Federal Reserve Bank stock 18.5 21.1 25.6 26.5 26.9 27.4 27.2 27.3 27.4 27.4 27.6 44

 45 Other 2.5 2.1 3.6 31.9 4.8 6.3 6.5 1.1 7.5 6.3 7.2 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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L.109 Private Depository Institutions (1)

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

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 12394.2 14130.7 13419.4 13582.2 14692.7 15058.0 14592.6 14762.1 14821.7 15058.0 15244.1 1

 2 Vault cash 55.0 57.7 54.9 52.7 60.8 71.1 56.5 56.6 56.3 71.1 59.7 2

 3 Reserves at Federal Reserve 20.8 860.0 977.0 968.1 1562.3 1491.0 1549.9 1507.0 1440.4 1491.0 1790.4 3

 4 Credit market instruments 10915.0 11298.8 10731.7 10916.1 11113.5 11505.4 11116.7 11216.5 11300.3 11505.4 11478.0 4

 5 Open market paper 0.4 15.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Treasury securities 122.7 101.9 196.6 299.6 252.9 339.5 280.6 294.7 327.0 339.5 330.8 6

 7 Agency- and GSE-backed securities 1258.2 1400.3 1579.9 1718.1 1851.7 1901.4 1929.0 1906.0 1905.4 1901.4 1948.3 7

 8 Municipal securities 204.0 224.4 227.8 257.1 303.9 369.9 315.3 334.1 356.6 369.9 382.2 8

 9 Corporate and foreign bonds 1119.1 1081.5 936.2 790.0 796.8 791.3 759.9 756.6 777.7 791.3 769.8 9

 10 Depository institution loans n.e.c. 2060.1 2259.5 1878.9 1856.3 2056.4 2250.0 2082.9 2145.6 2176.5 2250.0 2257.3 10

 11 Other loans and advances 0.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Mortgages 5018.6 5014.2 4768.9 4583.0 4436.2 4391.0 4370.3 4373.9 4334.1 4391.0 4352.8 12

 13 Consumer credit 1131.5 1201.2 1143.4 1412.0 1415.6 1462.3 1378.7 1405.7 1422.8 1462.3 1436.7 13

 14 Corporate equities 88.8 33.8 63.6 73.6 67.4 87.1 80.4 75.0 83.4 87.1 96.8 14

 15 Mutual fund shares 31.6 21.6 47.4 46.5 43.5 61.5 48.8 49.4 55.0 61.5 69.8 15

 16 Security credit 334.5 221.0 219.6 242.3 321.3 432.7 345.5 388.1 433.0 432.7 401.7 16

 17 Life insurance reserves 104.3 110.7 111.5 116.0 120.8 138.1 133.8 135.0 136.4 138.1 139.4 17

 18 Miscellaneous assets 844.3 1527.1 1213.5 1166.9 1403.2 1271.1 1260.9 1334.6 1316.9 1271.1 1208.4 18

 19 Total liabilities 11893.5 13621.7 13222.9 13539.6 14736.7 15307.1 14805.3 14956.4 15134.7 15307.1 15519.5 19

 20 Net interbank liabilities 60.6 1005.2 293.6 168.5 393.0 266.7 421.1 416.4 414.6 266.7 421.1 20

 21 Checkable deposits 740.8 881.0 990.7 1072.0 1428.6 1633.1 1397.7 1415.9 1454.4 1633.1 1651.0 21

 22 Small time and savings deposits 5224.5 5749.3 6326.5 6624.9 7202.2 7803.9 7410.5 7456.9 7595.4 7803.9 7871.4 22

 23 Large time deposits 2382.2 2191.6 1989.8 1807.5 1603.0 1508.5 1504.3 1511.1 1485.0 1508.5 1491.0 23

 24 Federal funds and security RPs (net) 839.0 491.8 844.2 678.7 605.5 493.5 575.1 584.2 552.7 493.5 473.3 24

 25 Credit market instruments 1024.0 1030.9 744.6 968.7 892.9 865.3 863.7 868.5 846.6 865.3 842.9 25

 26 Open market paper 0.8 0.5 0.6 113.0 120.6 87.5 104.4 102.1 90.7 87.5 74.4 26

 27 Corporate bonds 184.8 184.8 176.3 436.8 415.8 415.8 427.2 414.4 409.9 415.8 413.9 27

 28 Other loans and advances 838.4 845.6 567.6 418.9 356.4 362.0 332.2 351.9 346.0 362.0 354.5 28

 29 Taxes payable (net) 12.4 -73.6 -66.2 -59.6 -49.1 -47.9 -52.6 -50.3 -46.3 -47.9 -46.0 29

 30 Miscellaneous liabilities 1610.0 2345.5 2099.7 2279.0 2660.6 2783.8 2685.5 2753.8 2832.2 2783.8 2814.8 30

 31 Foreign direct investment in U.S. 94.2 71.7 107.7 114.8 153.1 162.3 146.6 149.9 152.2 162.3 167.7 31

 32 Investment by holding companies 1256.9 1370.5 1599.5 1632.8 1709.0 1889.2 1782.2 1825.7 1871.3 1889.2 1916.8 32

 33 Investment by funding corporations 241.0 276.6 203.1 171.6 137.8 126.0 154.3 128.5 117.9 126.0 142.9 33

 34 Other 17.9 626.6 189.4 359.8 660.7 606.3 602.5 649.6 690.8 606.3 587.4 34

 Memo:

 35 Consumer leases not included above (2) 11.2 9.5 6.9 6.2 6.0 6.5 6.0 5.9 6.2 6.5 6.8 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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L.110 U.S.-Chartered Depository Institutions, Excluding Credit Unions

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

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 10545.3 11663.3 11265.5 11294.5 11711.8 12056.2 11663.2 11764.0 11825.4 12056.2 12149.3 1

 2 Vault cash 55.0 57.7 54.9 52.7 60.8 71.1 56.5 56.6 56.3 71.1 59.7 2

 3 Reserves at Federal Reserve 19.8 616.4 670.1 580.4 805.2 800.7 813.4 771.6 730.2 800.7 998.5 3

 4 Credit market instruments 9201.0 9442.9 9131.1 9341.5 9468.4 9815.1 9462.8 9564.3 9622.3 9815.1 9789.9 4

 5 Open market paper 0.0 15.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Treasury securities 80.1 56.4 124.5 217.5 173.9 243.2 187.8 212.5 227.8 243.2 230.3 6

 7 Agency- and GSE-backed securities 1106.3 1242.5 1417.4 1527.2 1634.1 1669.7 1699.2 1668.4 1672.7 1669.7 1710.5 7

 8 Residential mortgage pass-through securities 697.1 851.0 837.5 835.3 899.1 912.8 946.8 932.4 932.9 912.8 952.8 8

 9 Commercial mortgage pass-through securities 0.0 0.0 3.6 3.3 8.2 21.7 14.4 16.0 18.9 21.7 24.7 9

 10 Residential CMOs and other structured MBS 174.1 193.9 264.0 393.4 473.8 454.6 482.0 460.6 460.0 454.6 446.7 10

 11 Commercial CMOs and other structured MBS 0.0 0.0 4.0 3.6 13.4 42.9 25.1 31.8 37.3 42.9 47.7 11

 12 Other 235.1 197.6 308.4 291.5 239.6 237.7 230.9 227.6 223.6 237.7 238.6 12

 13 Municipal securities 202.0 221.9 224.3 254.6 297.3 363.1 307.2 327.4 350.0 363.1 374.2 13

 14 Corporate and foreign bonds 714.6 650.5 667.1 548.9 551.8 550.7 532.3 528.8 542.6 550.7 547.0 14

 15 Priv. residential mortgage pass-through securities 54.7 29.0 16.2 6.5 3.5 18.7 3.1 18.8 18.1 18.7 19.6 15

 16 Priv. commercial mortgage pass-through securities 0.0 0.0 17.8 11.4 8.9 9.3 9.3 9.2 9.1 9.3 9.1 16

 17 Priv. residential CMOs and other structured MBS 328.9 285.6 202.9 132.3 110.4 88.4 97.4 93.7 92.8 88.4 83.7 17

 18 Priv. commercial CMOs and other structured MBS 0.0 0.0 26.0 24.7 27.4 32.7 27.3 29.9 31.1 32.7 33.8 18

 19 Other 330.9 335.9 404.1 374.0 401.8 401.6 395.2 377.2 391.5 401.6 400.7 19

 20 Depository institution loans n.e.c. 1544.6 1675.8 1419.6 1412.9 1569.2 1772.6 1596.2 1666.4 1698.4 1772.6 1775.9 20

 21 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 Mortgages 4658.6 4615.2 4371.9 4194.9 4049.6 3997.4 3984.5 3986.4 3944.6 3997.4 3962.9 22

 23 Consumer credit 894.9 965.0 906.3 1185.5 1192.6 1218.6 1155.7 1174.5 1186.1 1218.6 1189.1 23

 24 Corporate equities 88.8 33.8 63.6 73.6 67.4 87.1 80.4 75.0 83.4 87.1 96.8 24

 25 Mutual fund shares 29.6 19.6 46.1 45.0 41.7 59.2 46.7 47.3 52.8 59.2 67.3 25

 26 Security credit 145.9 158.6 158.0 152.3 189.6 243.0 190.8 209.8 241.8 243.0 209.0 26

 27 Life insurance reserves 104.3 110.7 111.5 116.0 120.8 138.1 133.8 135.0 136.4 138.1 139.4 27

 28 Miscellaneous assets 901.0 1223.5 1030.1 933.1 958.0 842.0 878.7 904.4 902.1 842.0 788.7 28

 29 Total liabilities 10106.2 11212.0 11110.9 11304.0 11836.1 12386.6 11962.9 12039.8 12216.2 12386.6 12505.6 29

 30 Net interbank liabilities 527.5 1238.0 697.2 480.9 233.7 129.1 281.3 224.3 230.4 129.1 235.0 30

 31 Federal Reserve float -0.0 -1.5 -2.1 -1.4 -0.6 -0.5 -0.7 -0.7 -0.6 -0.5 -0.6 31

 32 Borrowing from Federal Reserve banks 48.6 559.7 96.6 0.2 0.2 0.1 0.0 0.1 0.1 0.1 0.0 32

 33 To domestic banks 0.6 35.4 52.4 20.8 61.4 53.1 69.6 63.6 67.4 53.1 79.8 33

 34 To foreign banks 478.3 644.4 550.3 461.3 172.8 76.3 212.4 161.3 163.4 76.3 155.8 34

 35 Checkable deposits 639.6 777.5 871.6 941.1 1260.5 1435.6 1219.8 1232.0 1267.7 1435.6 1441.7 35

 36 Federal government 42.9 3.5 3.8 3.6 1.0 1.3 1.3 1.2 1.1 1.3 1.5 36

 37 Rest of the world 31.7 62.9 34.3 30.4 56.1 51.8 52.7 51.5 52.7 51.8 46.1 37

 38 Private domestic 564.9 711.1 833.5 907.0 1203.5 1382.4 1165.8 1179.3 1214.0 1382.4 1394.0 38

 39 Small time and savings deposits 4664.0 5144.6 5617.0 5888.6 6425.7 6979.3 6598.7 6636.4 6775.6 6979.3 7018.7 39

 40 Large time deposits 1378.2 1309.2 979.4 849.1 813.9 738.2 743.4 777.4 749.1 738.2 709.0 40

 41 Federal funds and security RPs (net) 615.3 359.6 674.1 455.5 347.9 209.8 308.2 301.8 273.1 209.8 189.1 41

 42 Credit market instruments 991.2 990.3 718.1 942.6 868.7 840.3 840.8 844.7 822.2 840.3 820.7 42

 43 Open market paper 0.3 0.5 0.6 113.0 120.6 87.5 104.4 102.1 90.7 87.5 74.4 43

 44 Corporate bonds 184.8 184.8 176.3 436.8 415.8 415.8 427.2 414.4 409.9 415.8 413.9 44

 45 Other loans and advances 806.1 805.0 541.1 392.8 332.3 336.9 309.3 328.2 321.6 336.9 332.3 45

 46 Taxes payable (net) 12.4 -73.6 -66.2 -59.6 -49.1 -47.9 -52.6 -50.3 -46.3 -47.9 -46.0 46

 47 Miscellaneous liabilities 1278.0 1466.4 1619.9 1805.9 1934.7 2102.3 2023.4 2073.4 2144.3 2102.3 2137.4 47

 48 Investment by holding companies 1256.9 1370.5 1599.5 1632.8 1709.0 1889.2 1782.2 1825.7 1871.3 1889.2 1916.8 48

 49 Other 21.1 95.9 20.4 173.1 225.7 213.1 241.2 247.6 273.1 213.1 220.6 49

 Memo:

 50 Consumer leases not included above (1) 11.2 9.5 6.9 6.2 6.0 6.5 6.0 5.9 6.2 6.5 6.8 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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L.111 Foreign Banking Offices in U.S. (1)

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

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 1048.0 1624.8 1267.5 1336.7 1999.0 1967.0 1909.5 1976.7 1978.0 1967.0 2039.1 1

 2 Reserves at Federal Reserve 1.0 239.0 284.1 350.8 711.0 638.8 679.1 687.8 670.6 638.8 741.3 2

 3 Credit market instruments 963.3 1063.8 777.9 747.1 784.9 784.1 775.5 760.4 778.3 784.1 766.9 3

 4 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Treasury securities 30.4 35.5 57.5 60.9 60.5 76.6 71.6 61.0 77.3 76.6 79.5 5

 6 Agency- and GSE-backed securities 57.1 50.6 31.3 26.5 30.6 32.1 29.0 32.3 30.2 32.1 27.7 6

 7 Municipal securities 0.0 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 369.5 401.6 244.9 233.9 234.5 228.7 216.4 216.6 223.9 228.7 210.4 8

 9 Depository institution loans n.e.c. 466.8 531.9 406.5 390.4 426.6 415.8 427.2 419.3 415.7 415.8 419.5 9

 10 Other loans and advances 0.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Mortgages 39.0 44.2 37.8 35.4 32.8 30.9 31.2 31.2 31.2 30.9 29.7 11

 12 Corporate equities 0.0 0.0 0.0 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Security credit 188.6 62.3 61.6 90.1 131.7 189.7 154.7 178.3 191.3 189.7 192.6 13

 14 Miscellaneous assets -104.9 259.7 143.9 148.7 371.4 354.4 300.2 350.2 338.0 354.4 338.4 14

 15 Total liabilities 1067.5 1639.6 1283.7 1354.1 2020.9 1991.6 1932.5 1999.8 2002.6 1991.6 2065.7 15

 16 Net interbank liabilities -404.1 -163.7 -322.5 -274.4 222.2 210.4 205.8 266.0 264.1 210.4 274.2 16

 17 To foreign banks -424.6 -179.9 -356.2 -315.4 194.2 136.8 179.4 238.7 186.7 136.8 183.9 17

 18 To domestic banks 20.5 16.2 33.7 41.0 27.9 73.6 26.5 27.2 77.4 73.6 90.3 18

 19 Checkable deposits 11.8 13.5 16.1 21.9 45.6 61.8 44.3 48.9 53.9 61.8 63.7 19

 20 Small time and savings deposits 25.5 25.6 29.9 35.7 48.9 62.7 57.9 62.1 62.4 62.7 67.9 20

 21 Large time deposits 907.9 784.7 958.6 909.0 736.6 711.8 706.8 678.2 679.8 711.8 721.6 21

 22 Federal funds and security RPs (net) 226.3 130.0 170.3 223.2 273.4 293.4 287.8 295.3 288.2 293.4 293.9 22

 23 Open market paper (2) 0.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 Miscellaneous liabilities 299.6 849.4 431.3 438.7 694.2 651.5 629.8 649.4 654.3 651.5 644.5 24

 25 Foreign direct investment in U.S. 94.2 71.7 107.7 114.8 153.1 162.3 146.6 149.9 152.2 162.3 167.7 25

 26 Investment by funding corporations 241.0 276.6 203.1 171.6 137.8 126.0 154.3 128.5 117.9 126.0 142.9 26

 27 Other -35.6 501.1 120.5 152.4 403.3 363.2 328.9 371.0 384.1 363.2 333.9 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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L.112 Banks in U.S.-Affiliated Areas (1)

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

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 104.9 102.0 94.7 79.9 75.8 75.8 75.7 78.5 75.2 75.8 75.4 1

 2 Credit market instruments 92.8 90.9 88.1 68.9 64.0 63.9 63.9 62.7 62.0 63.9 63.6 2

 3 Treasury securities 1.8 1.2 0.5 1.1 1.0 0.4 0.9 1.3 1.0 0.4 0.4 3

 4 Agency- and GSE-backed securities 26.3 24.4 20.5 12.8 4.8 2.6 5.1 4.8 4.0 2.6 2.4 4

 5 Municipal securities 2.0 2.5 3.5 2.5 3.4 2.6 3.4 2.8 2.8 2.6 2.7 5

 6 Corporate and foreign bonds 0.5 0.5 2.0 0.6 4.2 5.2 4.3 4.1 4.6 5.2 5.6 6

 7 Depository institution loans n.e.c. 21.4 19.7 19.4 16.1 17.1 18.1 17.2 17.3 17.6 18.1 18.1 7

 8 Home mortgages 21.5 22.9 22.6 20.1 17.8 20.0 17.5 17.3 17.0 20.0 19.9 8

 9 Commercial mortgages 19.3 19.7 19.6 15.7 15.6 14.9 15.4 15.1 14.9 14.9 14.4 9

 10 Miscellaneous assets 12.1 11.1 6.5 11.0 11.8 12.0 11.8 15.8 13.2 12.0 11.8 10

 11 Total liabilities 94.4 91.0 90.0 75.2 72.1 72.0 71.7 74.7 71.9 72.0 71.6 11

 12 Net interbank liabilities -2.6 -3.2 -4.2 -3.3 -4.6 -4.9 -4.4 -4.6 -5.3 -4.9 -4.6 12

 13 Checkable deposits 15.7 14.6 16.1 16.6 19.4 21.9 19.5 22.3 20.9 21.9 21.8 13

 14 Small time and savings deposits 26.3 27.4 24.5 19.3 18.9 18.8 18.7 19.6 18.5 18.8 19.0 14

 15 Large time deposits 26.3 27.4 24.5 19.3 18.9 18.8 18.7 19.6 18.5 18.8 19.0 15

 16 Miscellaneous liabilities 28.8 24.9 29.2 23.3 19.4 17.3 19.1 17.9 19.2 17.3 16.5 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; amounts outstanding end of period, not seasonally adjusted

 1 Total financial assets 696.0 740.6 791.7 871.1 906.1 958.9 944.3 942.9 943.1 958.9 980.3 1

 2 Reserves at Federal Reserve 0.0 4.7 22.8 36.9 46.1 51.6 57.4 47.6 39.6 51.6 50.6 2

 3 Credit market instruments 657.9 701.1 734.6 758.6 796.2 842.3 814.6 829.1 837.8 842.3 857.6 3

 4 Open market paper 0.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Treasury securities 10.4 8.8 14.2 20.1 17.6 19.3 20.3 19.9 20.9 19.3 20.5 5

 6 Agency- and GSE-backed securities 68.4 82.9 110.7 151.5 182.1 197.0 195.7 200.6 198.5 197.0 207.7 6

 7 Municipal securities 0.0 0.0 0.0 0.0 3.2 4.2 4.7 3.9 3.8 4.2 5.3 7

 8 Corporate and foreign bonds 34.6 28.9 22.3 6.6 6.3 6.7 6.9 7.0 6.6 6.7 6.8 8

 9 Depository institution loans n.e.c. 27.3 32.1 33.4 36.9 43.5 43.6 42.3 42.5 44.7 43.6 43.8 9

 10 Home mortgages 280.2 312.2 316.9 317.0 320.5 327.8 321.6 324.0 326.4 327.8 325.9 10

 11 Consumer credit 236.6 236.2 237.1 226.5 223.0 243.6 223.0 231.2 236.7 243.6 247.6 11

 12 Mutual fund shares 2.1 2.0 1.3 1.5 1.9 2.3 2.1 2.1 2.2 2.3 2.5 12

 13 Miscellaneous assets 36.0 32.8 33.0 74.1 61.9 62.7 70.2 64.1 63.6 62.7 69.6 13

 14 Total liabilities 625.4 679.0 738.3 806.3 807.6 856.9 838.2 842.0 843.9 856.9 876.6 14

 15 Net interbank liabilities -60.3 -65.9 -76.8 -34.7 -58.4 -67.9 -61.6 -69.3 -74.6 -67.9 -83.5 15

 16 Shares/deposits 652.3 697.4 769.4 803.8 845.3 896.6 884.6 887.4 888.3 896.6 931.1 16

 17 Checkable 73.7 75.3 86.9 92.4 103.1 113.9 114.1 112.7 111.9 113.9 123.8 17

 18 Small time and savings 508.7 551.7 655.2 681.3 708.7 743.1 735.2 738.8 738.9 743.1 765.8 18

 19 Large time 69.9 70.4 27.3 30.1 33.5 39.7 35.3 35.9 37.5 39.7 41.4 19

 20 Federal funds and security RPs (net) -2.5 2.3 -0.1 -0.0 -15.9 -9.7 -20.9 -12.9 -8.6 -9.7 -9.7 20

 21 Other loans and advances 32.3 40.6 26.5 26.1 24.2 25.1 22.9 23.7 24.4 25.1 22.2 21

 22 Miscellaneous liabilities 3.6 4.7 19.4 11.1 12.4 12.7 13.3 13.1 14.4 12.7 16.4 22
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L.114 Property-Casualty Insurance Companies

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

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 1385.8 1305.5 1377.1 1373.7 1395.7 1444.8 1423.3 1420.3 1441.1 1444.8 1450.5 1

 2 Checkable deposits and currency 42.7 27.9 27.6 32.6 24.1 36.4 29.1 29.3 32.9 36.4 30.6 2

 3 Money market fund shares 20.7 32.8 29.6 25.6 20.0 23.8 20.9 21.8 22.8 23.8 22.8 3

 4 Security RPs 3.6 4.4 4.5 3.8 1.7 1.9 1.8 1.8 1.8 1.9 1.8 4

 5 Credit market instruments 869.3 853.4 886.7 890.6 926.8 924.3 923.4 920.6 920.9 924.3 922.1 5

 6 Open market paper 13.3 19.1 9.8 7.9 8.8 7.4 8.4 8.1 7.8 7.4 7.1 6

 7 Treasury securities 71.3 65.6 88.5 91.7 96.4 90.2 94.5 92.8 91.4 90.2 89.5 7

 8 Agency- and GSE-backed securities 125.8 114.3 116.2 115.8 122.7 113.6 120.0 117.4 115.3 113.6 113.3 8

 9 Municipal securities 371.3 381.9 369.4 348.4 331.0 327.6 329.2 327.5 327.0 327.6 326.8 9

 10 Corporate and foreign bonds 282.9 267.5 298.3 322.6 363.1 379.8 366.1 369.3 373.9 379.8 379.4 10

 11 Commercial mortgages 4.8 5.0 4.4 4.1 4.9 5.6 5.2 5.4 5.5 5.6 5.8 11

 12 Corporate equities 236.2 193.3 219.8 219.2 224.4 258.3 248.9 244.4 257.9 258.3 273.4 12

 13 Mutual fund shares 6.8 4.4 5.3 5.7 5.5 5.7 5.7 5.5 5.7 5.7 6.0 13

 14 Trade receivables 85.4 86.7 83.0 83.8 87.2 92.0 91.1 92.0 94.5 92.0 93.5 14

 15 Miscellaneous assets 121.1 102.6 120.6 112.3 105.9 102.4 102.3 104.8 104.6 102.4 100.3 15

 16 Total liabilities 818.6 792.3 804.3 823.1 855.2 890.2 881.9 882.0 881.9 890.2 883.7 16

 17 Security RPs 0.5 2.4 0.6 1.5 0.4 0.8 0.5 0.5 0.6 0.8 1.1 17

 18 Taxes payable (net) 7.0 -21.1 -15.8 -10.1 -14.5 -10.8 -8.0 -13.2 -8.7 -10.8 -3.2 18

 19 Miscellaneous liabilities 811.1 811.0 819.5 831.8 869.4 900.2 889.5 894.8 890.0 900.2 885.8 19

L.115 Life Insurance Companies

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

 1 Total financial assets 4949.7 4515.5 4823.9 5176.3 5340.1 5613.0 5501.7 5436.8 5560.0 5613.0 5731.9 1

 2 Checkable deposits and currency 58.3 82.8 50.7 51.7 53.7 56.4 52.9 56.1 53.5 56.4 57.1 2

 3 Money market fund shares 21.6 39.2 33.7 21.0 28.8 24.0 27.4 26.2 25.1 24.0 27.5 3

 4 Security RPs 2.7 8.0 10.2 10.9 10.1 7.4 8.2 7.9 7.7 7.4 7.2 4

 5 Credit market instruments 2871.2 2882.8 3022.6 3174.2 3297.9 3367.3 3333.6 3307.7 3349.5 3367.3 3390.8 5

 6 Open market paper 41.7 38.3 49.8 40.9 29.7 40.5 33.1 35.0 37.4 40.5 43.6 6

 7 Treasury securities 70.6 105.7 133.5 156.6 167.1 171.8 168.9 167.8 170.3 171.8 173.7 7

 8 Agency- and GSE-backed securities 382.9 366.2 371.9 376.0 374.7 361.6 373.4 365.5 364.8 361.6 359.2 8

 9 Municipal securities 41.4 47.1 73.1 112.3 121.6 131.2 124.8 125.1 128.7 131.2 131.9 9

 10 Corporate and foreign bonds 1862.6 1817.0 1927.2 2030.2 2123.6 2167.4 2150.1 2126.1 2155.9 2167.4 2186.9 10

 11 Other loans and advances 145.8 166.1 140.9 140.7 148.6 150.4 146.6 147.7 148.9 150.4 150.9 11

 12 Mortgages 326.2 342.4 326.1 317.5 332.5 344.4 336.7 340.5 343.5 344.4 344.5 12

 13 Corporate equities 1464.6 1001.7 1208.5 1402.6 1390.2 1545.1 1524.3 1478.3 1543.7 1545.1 1654.9 13

 14 Mutual fund shares 188.4 121.0 140.8 155.7 150.1 159.3 159.1 153.2 159.3 159.3 167.6 14

 15 Miscellaneous assets 342.9 380.1 357.6 360.3 409.3 453.5 396.3 407.4 421.2 453.5 426.7 15

 16 Total liabilities 4661.7 4266.5 4532.5 4850.8 5001.3 5248.8 5156.5 5085.2 5198.9 5248.8 5362.3 16

 17 Security RPs 20.2 12.9 12.4 10.3 10.4 13.5 10.8 11.7 12.7 13.5 13.7 17

 18 Other loans and advances 28.7 54.9 48.3 45.1 46.8 51.6 48.5 52.4 52.4 51.6 52.9 18

 19 Life insurance reserves 1156.1 1133.4 1194.5 1229.9 1302.3 1309.0 1317.1 1292.1 1303.1 1309.0 1329.1 19

 20 Pension fund reserves (1) 2511.6 2223.2 2346.9 2563.0 2594.2 2830.9 2731.4 2681.9 2770.3 2830.9 2946.6 20

 21 Taxes payable (net) -4.7 -24.4 -31.4 -28.8 -23.6 -28.3 -27.3 -23.9 -23.6 -28.3 -28.4 21

 22 Miscellaneous liabilities 949.8 866.4 961.7 1031.4 1071.2 1072.1 1076.1 1070.9 1084.1 1072.1 1048.5 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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L.116 Private Pension Funds (1)

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

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 6108.2 4568.1 5442.7 6143.1 6302.3 6636.0 6576.7 6506.9 6720.1 6636.0 6820.7 1

 2 Checkable deposits and currency 17.1 13.4 10.4 12.6 14.3 13.0 13.5 13.2 12.9 13.0 12.3 2

 3 Time and savings deposits 46.1 42.6 46.0 43.7 49.3 42.9 46.2 45.5 44.5 42.9 40.6 3

 4 Money market fund shares 128.5 93.6 86.7 76.3 82.8 72.5 77.9 76.8 75.0 72.5 68.4 4

 5 Security RPs 3.7 2.8 2.9 2.7 2.9 2.6 2.8 2.7 2.9 2.6 2.4 5

 6 Credit market instruments 1043.4 833.0 843.3 968.0 1020.5 983.0 998.2 1002.3 991.9 983.0 950.9 6

 7 Open market paper 121.8 94.6 93.2 92.0 103.9 90.8 98.3 97.7 93.9 90.8 77.6 7

 8 Treasury securities 186.5 147.4 182.4 215.6 249.6 294.1 263.6 274.2 286.2 294.1 298.8 8

 9 Agency- and GSE-backed securities 253.9 190.3 184.0 190.4 197.8 216.2 202.5 208.9 212.5 216.2 216.3 9

 10 Corporate and foreign bonds 447.2 374.6 360.0 443.4 441.7 360.6 408.7 397.3 376.4 360.6 339.7 10

 11 Mortgages 34.1 26.1 23.8 26.6 27.5 21.4 25.1 24.1 22.8 21.4 18.6 11

 12 Corporate equities 1935.5 1380.4 1647.1 1938.3 1949.0 2171.1 2128.6 2083.7 2196.6 2171.1 2283.3 12

 13 Mutual fund shares 1830.7 1362.3 1827.5 2084.7 2072.4 2306.6 2245.1 2212.1 2328.4 2306.6 2461.3 13

 14 Miscellaneous assets 1103.0 840.3 978.9 1016.9 1111.1 1044.3 1064.4 1070.6 1067.9 1044.3 1001.4 14

 15 Unallocated insurance contracts (2) 370.5 279.0 388.9 399.2 413.7 383.1 406.0 401.3 398.6 383.1 385.0 15

 16 Contributions receivable 109.5 84.0 75.6 91.1 90.1 85.8 86.9 87.7 87.4 85.8 79.8 16

 17 Other 623.1 477.3 514.4 526.7 607.2 575.4 571.5 581.6 581.9 575.4 536.5 17

 18 Pension fund reserves (liabilities) (3) 6142.4 4603.4 5479.2 6179.7 6338.9 6672.5 6613.3 6543.5 6756.6 6672.5 6857.2 18

 Memo:

 Total financial assets (4)

 19 Defined benefit plans 2515.7 1894.9 2129.1 2389.6 2450.7 2547.4 2549.0 2516.5 2590.0 2547.4 2566.1 19

 20 Defined contibution plans 3592.5 2673.2 3313.6 3753.5 3851.6 4088.6 4027.8 3990.4 4130.1 4088.6 4254.6 20

(1) Private defined benefit plans and defined contribution plans (including 401(k) type plans).

(2) Assets of private pension plans held at life insurance companies (e.g., GICs, variable annuities); series begins 1985:Q4.

(3) Equal to the value of nonfinancial and financial assets. These liabilities are assets of the household sector.

(4) Additional detail on defined benefit plans and defined contribution plans is available on L.116.b and L.116.c.
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L.117 State and Local Government Employee Retirement Funds

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

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 3285.9 2428.6 2722.2 2949.3 2872.6 3193.5 3130.7 3061.3 3177.7 3193.5 3413.1 1

 2 Checkable deposits and currency 3.6 3.5 3.5 4.1 4.4 4.0 4.3 4.2 4.1 4.0 3.9 2

 3 Time and savings deposits 26.6 26.9 28.5 34.9 37.7 34.7 36.9 35.9 35.3 34.7 33.8 3

 4 Money market fund shares 48.9 43.7 40.9 44.0 45.0 41.4 44.1 43.0 42.2 41.4 40.4 4

 5 Security RPs 3.3 3.0 3.0 3.4 3.6 3.3 3.5 3.4 3.3 3.3 3.2 5

 6 Credit market instruments 849.5 823.0 737.2 759.3 761.5 763.0 770.4 764.3 756.1 763.0 765.5 6

 7 Open market paper 31.6 31.0 32.1 38.4 41.0 37.8 40.2 39.1 38.5 37.8 36.8 7

 8 Treasury securities 144.2 129.9 151.9 160.0 174.4 217.9 191.0 197.8 206.5 217.9 229.0 8

 9 Agency- and GSE-backed securities 191.2 160.6 157.6 159.4 167.5 187.2 176.1 180.0 182.3 187.2 189.1 9

 10 Municipal securities 1.5 1.3 1.4 2.2 3.6 6.4 4.2 5.1 5.6 6.4 7.0 10

 11 Corporate and foreign bonds 463.1 485.1 382.8 388.5 364.2 305.1 348.8 332.6 314.1 305.1 295.8 11

 12 Mortgages 17.9 15.1 11.4 10.9 10.7 8.7 10.1 9.6 9.2 8.7 7.8 12

 13 Corporate equities 1935.7 1267.2 1617.8 1778.2 1701.9 1993.2 1927.1 1872.5 1984.2 1993.2 2188.6 13

 14 Mutual fund shares 305.2 166.7 205.2 223.2 208.0 243.6 235.5 228.8 242.5 243.6 271.9 14

 15 Miscellaneous assets 113.0 94.6 86.1 102.2 110.6 110.2 109.0 109.2 110.0 110.2 105.7 15

 16 Pension fund reserves (liabilities) (1) 3385.1 2518.8 2808.3 3041.8 2991.4 3358.4 3259.2 3200.7 3329.3 3358.4 3592.6 16

(1) Equal to the value of nonfinancial and financial assets. These liabilities are assets of the household sector.

L.118 Federal Government Retirement Funds (1)

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

 1 Total financial assets 1197.0 1222.3 1324.7 1425.4 1509.6 1582.3 1513.3 1517.0 1546.1 1582.3 1611.2 1

 2 Credit market instruments 99.4 123.3 130.7 141.5 161.6 175.5 163.0 167.2 169.5 175.5 173.3 2

 3 Treasury securities 87.7 112.4 119.8 129.8 147.7 160.0 148.3 151.6 154.1 160.0 158.9 3

 4 Agency- and GSE-backed securities 5.4 5.2 5.2 5.8 6.5 7.2 7.0 7.6 7.1 7.2 6.6 4

 5 Corporate and foreign bonds 6.3 5.8 5.7 5.9 7.3 8.3 7.6 7.9 8.3 8.3 7.8 5

 6 Corporate equities 145.7 83.7 116.8 140.9 134.4 152.7 153.1 146.3 153.3 152.7 172.3 6

 7 Miscellaneous assets (2) 952.0 1015.3 1077.2 1142.9 1213.7 1254.1 1197.2 1203.5 1223.3 1254.1 1265.5 7

 8 Pension fund reserves (liabilities) (3) 1197.0 1222.3 1324.7 1425.4 1509.6 1582.3 1513.3 1517.0 1546.1 1582.3 1611.2 8

(1) Includes the Thrift Savings Plan, the National Railroad Retirement Investment Trust, and nonmarketable government securities held by federal government retirement funds.

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

 retirement fund, and foreign service retirement and disability fund.

(3) Liabilities of the sector are assets of the household sector.
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L.119 Money Market Mutual Funds (1)

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

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 3033.0 3757.3 3258.6 2755.4 2642.5 2649.6 2535.5 2467.9 2506.9 2649.6 2554.0 1

 2 Foreign deposits 100.2 85.6 97.1 105.9 42.9 43.3 40.1 33.0 40.2 43.3 48.7 2

 3 Checkable deposits and currency 1.9 7.5 17.9 14.2 20.1 16.5 3.2 6.0 11.3 16.5 10.9 3

 4 Time and savings deposits 294.0 396.8 566.6 458.9 402.7 435.4 375.5 365.8 396.9 435.4 429.4 4

 5 Security RPs 605.9 542.4 480.0 479.4 490.5 544.7 498.2 514.9 513.2 544.7 470.7 5

 6 Credit market instruments 1962.0 2689.9 2070.0 1673.4 1663.6 1580.9 1600.7 1528.4 1520.2 1580.9 1562.8 6

 7 Open market paper 674.6 618.5 510.5 394.2 354.2 340.8 355.5 326.5 319.4 340.8 351.1 7

 8 Treasury securities 178.2 577.7 406.4 335.4 443.3 457.8 473.8 444.6 456.3 457.8 470.5 8

 9 Agency- and GSE-backed securities 235.9 756.2 543.0 402.8 403.7 343.5 327.3 334.6 331.4 343.5 325.6 9

 10 Municipal securities 496.6 509.5 440.1 386.7 357.3 336.7 341.2 325.4 320.1 336.7 312.6 10

 11 Corporate and foreign bonds 376.8 228.0 169.9 154.2 105.1 102.1 102.9 97.3 93.0 102.1 103.0 11

 12 Miscellaneous assets 69.0 35.2 26.9 23.5 22.7 28.8 17.8 19.9 25.1 28.8 31.5 12

 13 Total shares outstanding (liabilities) 3033.0 3757.3 3258.6 2755.4 2642.5 2649.6 2535.5 2467.9 2506.9 2649.6 2554.0 13

(1) Open-end investment companies; excludes funding vehicles for variable annuities, which are included in the life insurance sector (table L.115).

L.120 Mutual Funds (1)

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

 1 Total financial assets 7822.6 5388.0 6920.7 7873.0 7870.9 9323.6 8797.4 8653.4 9131.0 9323.6 10014.6 1

 2 Security RPs 132.2 124.7 153.3 137.5 108.7 207.2 206.2 217.7 230.7 207.2 241.1 2

 3 Credit market instruments 2196.7 2229.2 2616.3 2969.9 3329.3 4036.9 3581.7 3741.5 3907.7 4036.9 4243.1 3

 4 Open market paper 114.1 51.6 80.2 66.3 40.0 133.1 132.1 143.0 155.9 133.1 166.4 4

 5 Treasury securities 178.6 177.4 247.4 290.7 361.4 445.2 384.5 409.5 426.6 445.2 470.3 5

 6 Agency- and GSE-backed securities 563.5 559.8 613.8 769.9 879.9 1006.1 919.1 956.1 980.7 1006.1 1034.9 6

 7 Municipal securities 371.6 389.4 478.8 525.5 541.2 627.4 561.9 583.7 610.5 627.4 644.4 7

 8 Corporate and foreign bonds 886.5 956.2 1120.7 1243.0 1413.4 1719.4 1489.9 1550.0 1633.4 1719.4 1818.9 8

 9 Other loans and advances 82.4 94.8 75.4 74.6 93.5 105.7 94.2 99.2 100.6 105.7 108.2 9

 10 Corporate equities 5476.9 3014.1 4136.2 4762.7 4427.2 5107.0 5044.0 4744.2 5037.8 5107.0 5557.8 10

 11 Miscellaneous assets 16.8 20.0 14.9 2.9 5.7 -27.4 -34.5 -50.0 -45.3 -27.4 -27.4 11

 12 Total shares outstanding (liabilities) 7822.6 5388.0 6920.7 7873.0 7870.9 9323.6 8797.4 8653.4 9131.0 9323.6 10014.6 12

(1) Open-end investment companies; excludes funding vehicles for variable annuities, which are included in the life insurance sector (table L.115).

L.121 Closed-End and Exchange-Traded Funds

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

 Closed-end funds

 1 Total financial assets 316.4 202.9 229.2 243.7 241.6 257.9 246.3 246.3 253.8 257.9 271.5 1

 2 Credit market instruments 171.2 130.4 141.1 146.3 145.1 156.7 148.0 149.6 153.0 156.7 164.3 2

 3 Treasury securities 5.6 3.2 4.4 5.1 4.8 5.2 5.1 5.0 5.2 5.2 5.7 3

 4 Municipal securities 91.2 77.9 81.2 81.6 83.1 86.3 83.7 84.5 85.1 86.3 86.9 4

 5 Corporate and foreign bonds 74.3 49.4 55.5 59.6 57.2 65.2 59.2 60.0 62.7 65.2 71.7 5

 6 Corporate equities 145.2 72.5 88.1 97.4 96.5 101.2 98.3 96.8 100.9 101.2 107.3 6

 7 Total shares outstanding (liabilities) 316.4 202.9 229.2 243.7 241.6 257.9 246.3 246.3 253.8 257.9 271.5 7

 Exchange-traded funds

 8 Total financial assets 607.8 531.1 773.1 986.8 1042.6 1324.4 1185.4 1157.9 1268.2 1324.4 1434.0 8

 9 Credit market instruments 34.1 57.1 103.0 132.7 178.8 231.1 195.1 213.5 221.1 231.1 238.2 9

 10 Treasury securities 19.7 27.1 41.8 51.0 62.4 63.6 62.0 67.3 62.7 63.6 62.8 10

 11 Municipal securities 0.6 2.3 5.9 7.6 8.6 12.3 9.7 10.5 11.3 12.3 13.0 11

 12 Corporate and foreign bonds 13.8 27.7 55.4 74.1 107.7 155.3 123.4 135.7 147.1 155.3 162.3 12

 13 Corporate equities 573.7 474.0 670.0 854.1 863.8 1093.3 990.4 944.5 1047.1 1093.3 1195.9 13

 14 Total shares outstanding (liabilities) 607.8 531.1 773.1 986.8 1042.6 1324.4 1185.4 1157.9 1268.2 1324.4 1434.0 14
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L.122 Government-Sponsored Enterprises (GSEs) (1)

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

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 3174.3 3407.9 3062.0 6748.5 6504.6 6295.3 6432.7 6370.4 6326.1 6295.3 6299.7 1

 2 Checkable deposits and currency 13.7 88.3 99.4 63.4 72.7 52.6 42.5 52.9 36.1 52.6 64.1 2

 3 Time and savings deposits 46.6 68.5 25.7 26.1 13.4 4.3 11.1 9.8 3.7 4.3 3.6 3

 4 Federal funds and security RPs (net) 142.7 114.5 122.1 150.0 111.9 150.8 107.2 138.7 174.9 150.8 193.4 4

 5 Credit market instruments 2829.5 3037.5 2714.4 6360.5 6158.2 5935.1 6121.9 6033.0 5971.7 5935.1 5920.4 5

 6 Open market paper 27.7 6.8 9.7 9.9 6.5 3.4 5.2 5.7 4.2 3.4 4.2 6

 7 Treasury securities 15.5 16.8 36.6 82.6 100.2 69.0 104.9 77.0 72.3 69.0 74.6 7

 8 Agency- and GSE-backed securities 702.9 910.0 924.5 377.0 358.9 310.6 347.7 342.4 323.9 310.6 300.6 8

 9 Municipal securities 33.3 31.3 29.1 24.9 21.0 17.0 20.2 19.4 18.1 17.0 24.9 9

 10 Corporate and foreign bonds 464.4 386.6 310.8 293.9 260.5 205.9 253.9 227.1 221.2 205.9 192.3 10

 11 Other loans and advances 942.6 980.7 695.9 551.3 487.0 505.7 467.3 491.3 487.6 505.7 498.8 11

 12 Sallie Mae 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Farm Credit System 75.5 80.3 80.0 87.3 83.8 92.1 86.6 87.0 89.3 92.1 91.4 13

 14 FHLB 867.1 900.5 615.9 464.0 403.3 413.6 380.7 404.3 398.3 413.6 407.4 14

 15 Mortgages 643.1 705.3 707.7 5021.0 4924.0 4823.5 4922.8 4870.2 4844.5 4823.5 4825.0 15

 16 Home 447.9 456.6 445.3 4699.3 4595.8 4485.4 4591.6 4539.0 4508.3 4485.4 4489.6 16

 17 Consolidated trusts (2) 0.0 0.0 0.0 4141.0 4032.1 3958.0 4033.8 3998.2 3978.0 3958.0 3982.2 17

 18 Other 447.9 456.6 445.3 558.3 563.7 527.4 557.9 540.8 530.3 527.4 507.4 18

 19 Multifamily residential 147.7 190.2 204.4 256.5 259.2 265.5 261.3 260.4 264.6 265.5 261.9 19

 20 Consolidated trusts (2) 0.0 0.0 0.0 75.4 99.9 127.0 106.2 111.3 118.6 127.0 133.5 20

 21 Other 147.7 190.2 204.4 181.1 159.4 138.5 155.1 149.1 146.0 138.5 128.4 21

 22 Farm 47.6 58.5 58.0 65.2 69.0 72.7 69.8 70.8 71.6 72.7 73.5 22

 23 Consumer credit (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 Miscellaneous assets 141.7 99.1 100.3 148.6 148.5 152.6 150.1 135.9 139.6 152.6 118.2 24

 25 Total liabilities 3081.3 3390.2 2977.0 6589.1 6377.9 6216.8 6311.4 6270.3 6239.1 6216.8 6223.6 25

 26 Credit market instruments 2910.2 3181.9 2706.6 6434.5 6247.3 6092.7 6178.6 6139.8 6111.5 6092.7 6103.5 26

 27 GSE issues (4) 2910.2 3181.9 2706.6 6434.5 6247.3 6092.7 6178.6 6139.8 6111.5 6092.7 6103.5 27

 28 Consolidated trusts (2) 0.0 0.0 0.0 4216.4 4132.0 4085.0 4140.0 4109.6 4096.6 4085.0 4115.7 28

 29 Other 2910.2 3181.9 2706.6 2218.1 2115.4 2007.7 2038.6 2030.3 2014.9 2007.7 1987.8 29

 30 U.S. government loans 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 30

 31 Miscellaneous liabilities 171.1 208.2 270.4 154.6 130.6 124.1 132.8 130.5 127.5 124.1 120.2 31

(1) Federal Home Loan Banks, Fannie Mae, Freddie Mac, Farmer Mac, Farm Credit System, the Financing Corporation, and the Resolution Funding Corporation. The Student Loan Marketing Association

 (Sallie Mae) was included until it was fully privatized in 2004:Q4. Beginning 2010:Q1, almost all Fannie Mae and Freddie Mac mortgage pools (table L.123) are consolidated on Fannie Mae’s and

 Freddie Mac’s balance sheets.

(2) Consolidated trusts refers to the unpaid balance of securitized mortgages Fannie Mae and Freddie Mac moved on to their balance sheets at the beginning of 2010 in response to new accounting rules.

(3) Sallie Mae student loans.

(4) Such issues are classified as agency- and GSE-backed securities.

L.123 Agency- and GSE-Backed Mortgage Pools (1)

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

 1 Total financial assets 4464.4 4961.4 5376.7 1139.5 1304.8 1437.0 1329.9 1377.3 1408.0 1437.0 1462.7 1

 2 Home mortgages 4371.8 4864.0 5266.5 1068.8 1216.8 1321.8 1237.2 1276.2 1301.7 1321.8 1340.2 2

 3 Multifamily residential mortgages 88.1 92.8 105.7 66.9 86.4 113.4 91.1 99.1 104.3 113.4 120.6 3

 4 Commercial mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Farm mortgages 4.5 4.7 4.5 3.8 1.7 1.9 1.6 2.0 2.0 1.9 1.9 5

 6 Total pool securities (liabilities)(2) 4464.4 4961.4 5376.7 1139.5 1304.8 1437.0 1329.9 1377.3 1408.0 1437.0 1462.7 6

(1) GNMA, Fannie Mae, Freddie Mac, Farmer Mac, and Farmers Home Administration pools. Beginning 2010:Q1, almost all Fannie Mae and Freddie Mac mortgage pools are consolidated on Fannie

 Mae’s and Freddie Mac’s balance sheets (table L.122). Also includes agency- and GSE-backed mortgage pool securities which are used as collateral for agency- and GSE-backed CMOs and privately

 issued CMOs. Excludes Federal Financing Bank holdings of pool securities, which are included with federal government mortgages and other loans and advances.

(2) Such issues are classified as agency- and GSE-backed securities.
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L.124 Issuers of Asset-Backed Securities (ABS)

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

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 4511.4 4098.3 3285.2 2230.8 1982.8 1766.8 1922.8 1862.0 1800.5 1766.8 1726.1 1

 2 Treasury securities 85.8 72.2 53.9 40.1 29.2 23.4 25.9 24.8 23.2 23.4 20.5 2

 3 Agency- and GSE-backed securities (1) 352.0 325.3 100.4 5.0 0.7 0.2 0.3 0.3 0.2 0.2 0.1 3

 4 Other loans and advances 341.9 379.8 252.2 167.8 162.4 161.7 166.9 161.9 157.1 161.7 166.9 4

 5 Mortgages (2) 2967.6 2615.2 2245.0 1915.7 1696.8 1490.5 1637.6 1585.5 1530.6 1490.5 1448.1 5

 6 Home 2210.0 1897.2 1574.3 1298.7 1105.6 923.4 1060.1 1012.3 965.9 923.4 885.8 6

 7 Multifamily residential 124.0 113.2 107.4 98.7 91.1 72.4 79.2 76.9 74.5 72.4 68.9 7

 8 Commercial 633.6 604.7 563.3 518.3 500.2 494.7 498.3 496.4 490.2 494.7 493.3 8

 9 Consumer credit 652.5 610.2 572.5 50.3 46.2 49.9 46.7 47.0 47.9 49.9 50.4 9

 10 Trade credit 111.7 95.5 61.3 51.8 47.6 41.2 45.3 42.4 41.4 41.2 40.1 10

 11 Total liabilities 4514.5 4101.0 3287.6 2230.8 1982.8 1766.8 1922.8 1862.0 1800.5 1766.8 1726.1 11

 12 Commercial paper 643.1 559.3 293.1 120.2 96.0 87.0 97.7 85.2 86.8 87.0 87.9 12

 13 Corporate bonds (net) (3) 3871.4 3541.7 2994.5 2110.7 1886.8 1679.8 1825.1 1776.8 1713.7 1679.8 1638.2 13

 Memo:

 Securitized assets not included above

 14 Consumer leases (4) 3.1 2.7 2.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 REIT assets (5) 92.1 45.4 20.1 20.5 17.4 12.9 17.7 12.7 14.9 12.9 13.5 15

 Securitized liabilities not included above

 16 Commercial paper (6) 0.0 0.0 0.0 112.9 120.6 87.5 104.3 102.1 90.7 87.5 74.4 16

(1) Agency- and GSE-backed mortgage pool securities backing privately issued CMOs.

(2) Mortgages backing privately issued pool securities and privately issued CMOs.

(3) Liabilities net of assets.

(4) Receivables from operating leases, such as consumer automobile leases, are booked as current income when payments are received and are not included in financial assets (or household liabilities).

 The leased automobile is a nonfinancial asset.

(5) Included in table L.126.

(6) Included in table L.110 line 43.

L.125 Finance Companies (1)

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

 1 Total financial assets 1911.2 1851.7 1662.5 1629.5 1609.8 1534.4 1593.7 1555.1 1554.4 1534.4 1519.1 1

 2 Checkable deposits and currency 16.2 16.5 17.0 26.6 31.5 28.1 31.1 28.6 30.6 28.1 29.3 2

 3 Time and savings deposits 48.6 49.4 51.0 79.8 94.4 84.2 93.3 85.9 91.9 84.2 87.8 3

 4 Credit market instruments 1816.3 1734.4 1516.7 1440.1 1394.3 1361.2 1382.3 1365.7 1363.8 1361.2 1351.6 4

 5 Corporate and foreign bonds 189.4 192.4 198.6 83.9 84.8 78.5 84.7 86.7 85.1 78.5 77.8 5

 6 Other loans and advances 523.0 539.9 448.9 407.7 410.0 421.8 410.2 410.4 412.6 421.8 426.7 6

 7 Mortgages 531.9 447.9 397.4 243.6 211.5 180.1 206.7 192.7 188.5 180.1 174.6 7

 8 Consumer credit 572.1 554.3 471.9 705.0 688.0 680.8 680.7 676.0 677.5 680.8 672.5 8

 9 Miscellaneous assets 30.1 51.5 77.8 83.0 89.7 61.0 87.0 74.8 68.0 61.0 50.5 9

 10 Total liabilities 1949.6 1880.5 1630.3 1589.9 1562.8 1475.5 1545.3 1505.3 1503.8 1475.5 1457.6 10

 11 Credit market instruments 1279.6 1200.3 1044.1 1281.0 1262.9 1209.1 1251.8 1235.9 1246.2 1209.1 1191.0 11

 12 Open market paper 123.5 100.9 62.1 111.0 121.0 129.1 122.8 122.5 123.1 129.1 121.8 12

 13 Corporate bonds 974.1 924.5 837.5 1078.4 1039.8 961.4 1031.4 1009.9 1007.3 961.4 956.3 13

 14 Depository institution loans n.e.c. 182.0 174.9 144.5 91.5 102.1 118.5 97.5 103.5 115.8 118.5 112.9 14

 15 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Taxes payable 15.5 15.4 12.7 7.2 7.8 7.7 8.1 7.7 7.5 7.7 8.1 16

 17 Miscellaneous liabilities 654.4 664.8 573.6 301.7 292.1 258.7 285.4 261.7 250.0 258.7 258.5 17

 18 Foreign direct investment in U.S. 68.6 78.1 90.0 103.1 116.4 119.5 117.5 117.6 117.2 119.5 118.8 18

 19 Investment by parent 321.4 313.0 280.5 177.7 165.6 164.7 158.9 152.7 152.1 164.7 162.2 19

 20 Other 264.4 273.7 203.1 20.9 10.2 -25.5 9.0 -8.6 -19.3 -25.5 -22.5 20

 Memo:

 21 Consumer leases not included above (2) 122.9 111.1 85.4 111.8 119.7 144.0 124.2 129.9 137.2 144.0 149.7 21

(1) Includes retail captive finance companies and mortgage companies.

(2) See footnote (4), table L.124.
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L.126 Real Estate Investment Trusts (REITs)

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

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 318.5 250.6 241.2 283.0 401.3 559.0 468.0 493.5 566.6 559.0 562.5 1

 2 Checkable deposits and currency 16.6 18.4 26.3 23.5 25.6 33.1 29.8 29.0 32.7 33.1 38.7 2

 3 Credit market instruments 246.5 177.6 168.9 206.0 308.9 436.6 362.9 385.5 451.4 436.6 426.6 3

 4 Agency- and GSE-backed securities 88.9 89.6 105.1 143.3 244.7 356.2 296.4 314.2 375.4 356.2 343.6 4

 5 Corporate and foreign bonds 34.4 11.7 15.5 20.8 22.1 32.2 25.6 27.6 30.6 32.2 35.0 5

 6 Mortgages 123.1 76.3 48.3 41.9 42.1 48.3 40.9 43.6 45.4 48.3 48.1 6

 7 Home 80.7 34.3 12.6 8.9 8.1 13.6 8.6 11.7 12.3 13.6 14.8 7

 8 Multifamily residential 5.2 4.3 2.3 1.9 1.7 1.8 1.7 1.7 1.7 1.8 2.1 8

 9 Commercial 37.3 37.7 33.4 31.2 32.3 32.8 30.6 30.2 31.4 32.8 31.1 9

 10 Miscellaneous assets 55.4 54.6 46.1 53.5 66.8 89.3 75.4 79.0 82.4 89.3 97.2 10

 11 Total liabilities 580.5 511.6 458.8 501.7 633.2 796.4 698.7 725.4 793.8 796.4 796.7 11

 12 Security RPs 91.7 79.4 90.4 120.5 215.4 318.7 258.7 280.9 319.9 318.7 319.3 12

 13 Credit market instruments 421.2 367.4 317.4 315.2 343.4 386.3 350.1 364.4 371.2 386.3 390.3 13

 14 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Corporate bonds 231.3 171.0 129.8 129.7 145.1 171.2 152.6 158.9 163.5 171.2 174.4 15

 16 Depository institution loans n.e.c. 33.2 32.8 20.7 18.5 22.1 23.4 18.6 20.5 19.6 23.4 18.5 16

 17 Mortgages 156.7 163.5 166.9 167.1 176.2 191.8 178.8 185.0 188.0 191.8 197.4 17

 18 Miscellaneous liabilities 67.6 64.9 51.1 66.0 74.4 91.4 90.0 80.1 102.6 91.4 87.1 18

 Memo:

 19 Securitized assets included above 92.1 45.4 20.1 20.5 17.4 12.9 17.7 12.7 14.9 12.9 13.5 19

 20 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 0.0 20

 21 Home mortgages 72.4 31.8 6.1 7.2 6.5 10.0 7.1 7.2 9.4 10.0 10.5 21

 22 Multifamily residential mortgages 0.4 0.4 0.4 0.4 0.3 0.3 0.3 0.3 0.3 0.3 0.3 22

 23 Commercial mortgages 19.3 13.2 13.7 13.0 10.7 2.5 10.3 5.2 5.2 2.5 2.7 23
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L.127 Security Brokers and Dealers

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

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 3092.0 2217.2 2084.2 2075.1 1949.7 2068.3 2063.8 2052.9 2048.8 2068.3 2049.3 1

 2 Checkable deposits and currency 105.0 120.1 90.7 96.9 111.8 128.2 117.4 105.2 113.5 128.2 109.3 2

 3 Credit market instruments 803.1 717.4 525.3 557.5 563.2 652.3 610.7 600.5 589.1 652.3 600.4 3

 4 Open market paper 87.1 65.7 41.5 36.2 42.1 29.9 43.7 34.7 33.2 29.9 29.9 4

 5 Treasury securities -60.0 190.6 123.0 94.5 183.6 246.5 203.8 201.2 190.2 246.5 202.6 5

 6 Agency- and GSE-backed securities 290.2 242.6 110.9 149.8 147.7 169.6 148.7 169.8 165.5 169.6 153.9 6

 7 Municipal securities 50.1 38.7 35.4 40.0 30.9 26.6 34.7 31.2 29.0 26.6 31.0 7

 8 Corporate and foreign bonds 382.8 123.8 154.4 189.5 104.5 140.0 149.3 130.8 139.3 140.0 141.1 8

 9 Other loans and advances 52.8 55.9 60.1 47.4 54.3 39.6 30.6 32.8 31.9 39.6 41.8 9

 10 Corporate equities 224.8 109.2 124.2 117.2 103.2 126.7 116.3 113.5 127.9 126.7 112.4 10

 11 Security credit 325.5 164.8 203.0 278.2 238.9 303.7 267.7 244.5 269.1 303.7 306.2 11

 12 Miscellaneous assets 1633.7 1105.7 1141.0 1025.3 932.6 857.4 951.8 989.3 949.2 857.4 921.0 12

 13 Total liabilities 3019.4 2158.1 1977.7 1975.8 1870.9 1978.3 1978.0 1967.7 1957.9 1978.3 1960.0 13

 14 Security RPs (net) 1147.3 586.9 470.9 404.7 215.3 189.2 251.7 219.9 169.2 189.2 184.7 14

 15 Credit market instruments 64.8 142.6 92.9 129.7 91.8 90.2 98.0 102.1 85.8 90.2 89.1 15

 16 Corporate bonds 64.8 97.1 92.9 129.7 91.8 90.2 98.0 102.1 85.8 90.2 89.1 16

 17 Depository institution loans n.e.c. (1) 0.0 45.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Trade payables 45.8 21.2 70.1 18.1 14.3 14.2 17.3 13.5 13.0 14.2 15.3 18

 19 Security credit 1200.9 963.6 888.2 936.6 1073.7 1208.7 1107.8 1165.7 1213.2 1208.7 1178.2 19

 20 Customer credit balances (HH) 866.4 742.7 668.6 694.3 752.4 776.0 762.3 777.7 780.2 776.0 776.6 20

 21 From U.S.-chartered depository institutions 145.9 158.6 158.0 152.3 189.6 243.0 190.8 209.8 241.8 243.0 209.0 21

 22 From foreign banking offices in U.S. 188.6 62.3 61.6 90.1 131.7 189.7 154.7 178.3 191.3 189.7 192.6 22

 23 Taxes payable 2.2 2.5 5.7 3.6 2.5 3.1 3.0 2.8 3.7 3.1 4.4 23

 24 Miscellaneous liabilities 558.4 441.4 450.0 483.1 473.3 472.9 500.2 463.6 473.0 472.9 488.2 24

 25 Foreign direct investment in U.S. 62.6 72.1 64.4 88.5 98.1 105.5 100.3 101.1 103.0 105.5 108.7 25

 26 Investment by funding corporations 567.5 672.1 1119.3 1121.6 1162.2 1629.9 1350.2 1322.0 1513.8 1629.9 1624.0 26

 27 Other -71.7 -302.8 -733.7 -727.0 -787.1 -1262.4 -950.3 -959.5 -1143.8 -1262.4 -1244.4 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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L.128 Holding Companies (1)

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

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 2141.3 2430.3 3317.2 3312.7 3357.3 4319.6 4094.8 4041.6 4250.1 4319.6 4415.0 1

 2 Time and savings deposits 0.8 0.7 11.2 10.0 12.4 37.8 19.1 27.5 39.0 37.8 34.5 2

 3 Federal funds and security RPs 6.9 0.3 48.2 50.3 50.5 11.5 0.3 0.3 0.4 11.5 11.3 3

 4 Credit market instruments 59.1 73.0 75.8 97.9 101.1 219.5 223.0 183.4 229.9 219.5 226.0 4

 5 Treasury securities 7.1 3.1 5.8 19.6 26.8 9.0 39.6 9.6 12.3 9.0 10.6 5

 6 Agency- and GSE-backed securities 9.9 25.8 24.3 21.1 33.1 25.2 45.7 26.3 23.8 25.2 29.1 6

 7 Corporate and foreign bonds 35.9 35.8 31.1 38.3 18.3 79.9 84.6 94.3 86.0 79.9 80.3 7

 8 Other loans and advances 6.3 8.2 14.6 18.9 22.9 105.3 53.1 53.2 107.8 105.3 106.0 8

 9 Life insurance reserves 20.5 19.3 21.4 25.1 27.6 34.9 33.7 34.8 36.2 34.9 37.4 9

 10 Miscellaneous assets 2054.0 2337.0 3160.6 3129.4 3165.9 4015.8 3818.8 3795.6 3944.6 4015.8 4105.9 10

 11 Net trans. with depository subs. 1256.9 1370.5 1599.5 1632.8 1709.0 1889.2 1782.2 1825.7 1871.3 1889.2 1916.8 11

 12 Net trans. with property-casualty ins. co. subs. 0.0 0.0 0.0 0.0 0.0 22.4 27.1 29.7 25.3 22.4 16.7 12

 13 Net trans. with life insurance company subs. 43.7 31.2 40.5 62.7 72.0 12.6 159.5 166.5 93.2 12.6 12.8 13

 14 Net trans. with finance company subs. 239.9 232.6 209.3 116.3 95.7 95.2 91.8 88.3 87.9 95.2 93.7 14

 15 Net trans. with broker and dealer subs. 57.0 155.2 596.1 625.2 612.5 1061.1 798.8 770.3 947.1 1061.1 1040.0 15

 16 Net trans. with foreign subs. 110.6 101.5 125.1 135.6 166.3 114.7 185.6 166.1 154.0 114.7 137.2 16

 17 Other 345.9 446.0 590.3 556.7 510.4 820.7 773.7 749.0 765.9 820.7 888.7 17

 18 Total liabilities 1046.6 1231.5 1802.2 1760.0 1703.1 2252.4 2037.7 1948.4 2217.2 2252.4 2311.6 18

 19 Federal funds and security RPs 7.7 0.7 0.6 0.8 1.2 0.0 1.1 1.1 1.2 0.0 0.0 19

 20 Credit market instruments 710.6 807.9 1253.7 1237.2 1220.8 1418.6 1303.9 1213.9 1428.7 1418.6 1412.5 20

 21 Commercial paper 116.7 77.7 60.8 64.7 75.9 116.4 87.2 87.0 117.0 116.4 117.7 21

 22 Corporate bonds 516.0 638.9 1028.7 982.2 890.6 1105.3 982.3 951.2 1081.9 1105.3 1093.9 22

 23 Depository institution loans n.e.c. 77.9 91.3 164.2 190.3 254.3 196.8 234.5 175.7 229.8 196.8 200.9 23

 24 Miscellaneous liabilities 328.3 422.9 548.0 522.0 481.1 833.8 732.6 733.5 787.4 833.8 899.1 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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L.129 Funding Corporations (1)

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

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 1706.1 2782.5 2355.8 2196.9 2095.2 2157.1 2054.4 2060.3 2065.8 2157.1 2166.1 1

 2 Money market fund shares 681.3 981.0 826.3 684.3 609.7 606.7 572.5 532.2 544.1 606.7 572.3 2

 3 Security RPs 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.0 3

 4 Credit market instruments 273.3 1008.0 778.0 818.2 797.9 855.5 776.1 847.8 837.0 855.5 866.9 4

 5 Open market paper 82.5 304.9 44.9 36.6 -13.9 -79.2 -85.5 -70.0 -77.6 -79.2 -76.2 5

 6 Corporate and foreign bonds 170.0 667.3 710.2 760.1 792.4 921.9 848.4 905.4 902.7 921.9 927.5 6

 7 Other loans and advances 20.8 35.9 22.9 21.4 19.4 12.9 13.2 12.4 11.9 12.9 15.6 7

 8 Corporate equities (2) 0.0 0.0 25.1 26.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Miscellaneous assets 751.5 793.5 726.3 667.9 687.6 694.8 705.7 680.1 684.6 694.8 726.9 9

 10 Investment in foreign banking offices 241.0 276.6 203.1 171.6 137.8 126.0 154.3 128.5 117.9 126.0 142.9 10

 11 Investment in brokers and dealers 510.5 516.9 523.2 496.4 549.7 568.8 551.4 551.6 566.7 568.8 584.0 11

 12 Total liabilities 1706.1 2782.5 2355.8 2196.9 2095.2 2157.1 2054.4 2060.3 2065.8 2157.1 2166.1 12

 13 Credit market instruments 786.4 1252.8 816.8 704.2 651.8 593.6 642.0 617.4 600.6 593.6 625.2 13

 14 Open market paper 367.9 388.0 261.7 167.1 94.3 29.1 92.2 75.8 37.1 29.1 51.9 14

 15 Corporate bonds 418.5 419.9 457.8 454.6 526.2 561.5 528.4 532.7 557.4 561.5 571.0 15

 16 Depository institution loans n.e.c. (3) 0.0 444.9 95.3 73.4 21.5 0.0 11.9 0.0 0.0 0.0 0.0 16

 17 Other loans and advances (4) 0.0 0.0 2.0 9.2 9.8 3.0 9.5 8.9 6.1 3.0 2.3 17

 18 Miscellaneous liabilities 919.7 1529.7 1539.0 1492.8 1443.4 1563.5 1412.4 1442.9 1465.2 1563.5 1540.9 18

 19 Foreign direct investment in U.S. 9.6 10.2 10.8 11.4 12.0 12.6 12.2 12.3 12.5 12.6 12.8 19

 20 Securities loaned (net) 1240.2 887.0 856.8 733.4 658.7 579.5 651.5 706.5 656.9 579.5 626.8 20

 21 Equity interest under PPIP 0.0 0.0 1.8 7.7 8.8 8.7 8.8 8.7 8.7 8.7 8.7 21

 22 Other (net) -330.2 632.5 669.6 740.3 763.9 962.6 739.9 715.4 787.2 962.6 892.6 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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L.200 U.S. Official Reserve Assets and SDR Allocations (1)

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

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Total liabilities 67.3 74.2 175.1 175.8 183.8 181.8 184.5 181.7 184.7 181.8 175.5 1

 2 Federal government: SDR allocations 7.7 7.5 55.4 54.4 54.2 54.3 54.7 53.6 54.5 54.3 52.9 2

 3 Rest of the world 59.5 66.6 119.7 121.4 129.6 127.5 129.8 128.1 130.3 127.5 122.5 3

 4 SDR holdings 9.5 9.3 57.8 56.8 55.0 55.1 55.5 54.3 55.2 55.1 53.7 4

 5 Reserve position in IMF (net) 4.2 7.7 11.4 12.5 22.8 22.6 23.2 23.2 23.5 22.6 21.3 5

 6 Foreign currency holdings 45.8 49.6 50.5 52.1 51.9 49.9 51.1 50.5 51.6 49.9 47.5 6

 7 Total assets 78.3 85.2 186.1 186.8 194.9 192.8 195.5 192.7 195.8 192.8 186.5 7

 8 Federal government 36.4 41.9 94.6 95.4 103.9 102.8 104.5 103.1 104.7 102.8 99.0 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 0.0 9

 10 SDR holdings 9.5 9.3 57.8 56.8 55.0 55.1 55.5 54.3 55.2 55.1 53.7 10

 11 Reserve position in IMF (net) 4.4 7.8 11.5 12.6 23.0 22.8 23.5 23.5 23.7 22.8 21.5 11

 12 Foreign currency holdings 22.5 24.8 25.2 26.0 25.8 24.9 25.5 25.2 25.8 24.9 23.8 12

 13 Rest of the world: SDR allocations 7.7 7.5 55.4 54.4 54.2 54.3 54.7 53.6 54.5 54.3 52.9 13

 14 Monetary authority 34.2 35.7 36.2 37.0 36.8 35.8 36.4 36.1 36.6 35.8 34.5 14

 15 Monetary gold (2) 11.0 11.0 11.0 11.0 11.0 11.0 11.0 11.0 11.0 11.0 11.0 15

 16 Reserve position in IMF (net) -0.1 -0.1 -0.1 -0.1 -0.3 -0.2 -0.3 -0.3 -0.2 -0.2 -0.3 16

 17 Foreign currency holdings 23.3 24.8 25.3 26.1 26.0 25.0 25.6 25.3 25.8 25.0 23.7 17

 18 Discrepancy: monetary gold -11.0 -11.0 -11.0 -11.0 -11.0 -11.0 -11.0 -11.0 -11.0 -11.0 -11.0 18

(1) Includes federal government liability to IMF for special drawing rights (SDRs) allocations and accrued interest.

(2) By international accounting standards, monetary gold is a financial asset for which there is no corresponding liability.

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

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

 SDR certificates:

 1 Liab: Federal government 2.2 2.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 1

 2 Asset: Monetary authority 2.2 2.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 2

 Treasury currency:

 3 Liab: Federal government 27.4 26.6 26.2 25.9 25.9 25.9 25.9 25.9 25.9 25.9 25.9 3

 4 Asset: Monetary authority 38.7 38.7 42.7 43.5 44.2 44.8 44.4 44.5 44.6 44.8 45.0 4

 5 Discrepancy (seigniorage) -11.3 -12.1 -16.5 -17.6 -18.3 -18.8 -18.5 -18.6 -18.7 -18.8 -19.0 5

L.202 U.S. Deposits in Foreign Countries

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

 1 Total rest of the world liability 1340.9 946.7 840.6 866.5 834.1 792.1 803.0 769.4 810.6 792.1 823.7 1

 Held by:

 2 Household sector 80.5 56.9 50.5 52.1 50.1 47.6 48.3 46.2 48.7 47.6 50.2 2

 3 Nonfinancial corporate business 50.3 24.7 31.5 40.6 34.8 13.1 22.1 10.6 10.2 13.1 11.4 3

 4 Money market mutual funds 100.2 85.6 97.1 105.9 42.9 43.3 40.1 33.0 40.2 43.3 48.7 4

 5 Discrepancy--unallocated assets 1110.0 779.5 661.4 668.0 706.3 688.1 692.6 679.5 711.6 688.1 713.3 5
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L.203 Net Interbank Transactions

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

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Total liabilities 136.3 1922.9 1325.6 1189.3 2016.0 1828.8 2027.5 1980.0 1911.3 1828.8 2271.1 1

 2 Monetary authority 75.8 917.7 1031.9 1020.8 1623.1 1562.1 1606.4 1563.6 1496.7 1562.1 1850.0 2

 3 U.S.-chartered depository institutions 527.5 1238.0 697.2 480.9 233.7 129.1 281.3 224.3 230.4 129.1 235.0 3

 4 Foreign banking offices in U.S. -404.1 -163.7 -322.5 -274.4 222.2 210.4 205.8 266.0 264.1 210.4 274.2 4

 5 Banks in U.S.-affiliated areas -2.6 -3.2 -4.2 -3.3 -4.6 -4.9 -4.4 -4.6 -5.3 -4.9 -4.6 5

 6 Credit unions -60.3 -65.9 -76.8 -34.7 -58.4 -67.9 -61.6 -69.3 -74.6 -67.9 -83.5 6

 7 Total assets 178.1 1940.4 1320.5 1165.5 1989.6 1774.8 1997.5 1963.0 1846.4 1774.8 2189.1 7

 8 Rest of the world 53.7 464.5 194.0 145.9 367.0 213.1 391.8 400.0 350.1 213.1 339.7 8

 9 Monetary authority 48.6 558.2 94.5 -1.2 -0.4 -0.4 -0.7 -0.6 -0.5 -0.4 -0.6 9

 10 U.S.-chartered depository institutions 74.8 674.1 725.0 633.1 866.0 871.7 869.9 828.2 786.5 871.7 1058.1 10

 11 Foreign banking offices in U.S. 1.0 239.0 284.1 350.8 711.0 638.8 679.1 687.8 670.6 638.8 741.3 11

 12 Credit unions 0.0 4.7 22.8 36.9 46.1 51.6 57.4 47.6 39.6 51.6 50.6 12

 13 Discrepancy -41.8 -17.5 5.1 23.8 26.4 54.0 30.0 17.0 64.9 54.0 82.0 13

 Memo:

 Vault cash:

 14 Liab.: Monetary authority 55.0 57.7 54.9 52.7 60.8 71.1 56.5 56.6 56.3 71.1 59.7 14

 15 Asset: U.S.-chartered depository institutions 55.0 57.7 54.9 52.7 60.8 71.1 56.5 56.6 56.3 71.1 59.7 15

 Depository institution reserves:

 16 Liab.: Monetary authority 20.8 860.0 977.0 968.1 1562.3 1491.0 1549.9 1507.0 1440.4 1491.0 1790.4 16

 17 Asset: U.S.-chartered depository institutions 19.8 616.4 670.1 580.4 805.2 800.7 813.4 771.6 730.2 800.7 998.5 17

 18 Foreign banking offices in U.S. 1.0 239.0 284.1 350.8 711.0 638.8 679.1 687.8 670.6 638.8 741.3 18

 19 Credit unions 0.0 4.7 22.8 36.9 46.1 51.6 57.4 47.6 39.6 51.6 50.6 19

 Other transactions with the monetary authority

 20 Liab: U.S.-chartered depository institutions 48.6 558.2 94.5 -1.2 -0.4 -0.4 -0.7 -0.6 -0.5 -0.4 -0.6 20

 21 Asset: Monetary authority 48.6 558.2 94.5 -1.2 -0.4 -0.4 -0.7 -0.6 -0.5 -0.4 -0.6 21

 22 Federal Reserve float -0.0 -1.5 -2.1 -1.4 -0.6 -0.5 -0.7 -0.7 -0.6 -0.5 -0.6 22

 23 Loans to member banks 48.6 559.7 96.6 0.2 0.2 0.1 0.0 0.1 0.1 0.1 0.0 23

 Transactions with banks in foreign countries (net):

 24 Liab.: U.S.-chartered depository institutions (net) 496.2 668.8 559.6 476.2 186.2 86.8 222.8 172.2 172.7 86.8 166.5 24

 25 Due to foreign affiliates 650.7 782.2 760.8 783.5 565.3 378.6 526.8 483.8 458.4 378.6 409.2 25

 26 - Due from foreign affiliates 154.5 113.3 201.3 307.3 379.0 291.9 304.0 311.6 285.7 291.9 242.6 26

 27 Foreign banking offices in U.S. (net) -424.0 -179.6 -350.9 -306.9 201.2 144.9 187.6 245.4 193.9 144.9 190.7 27

 28 Due to foreign affiliates 529.0 536.4 538.9 635.6 829.1 806.8 876.0 843.9 846.1 806.8 838.1 28

 29 - Due from foreign affiliates 953.0 716.1 889.8 942.5 627.9 661.9 688.4 598.4 652.2 661.9 647.4 29

 30 Less: Deposits at foreign banks 18.6 24.7 14.6 23.4 20.4 18.6 18.7 17.7 16.5 18.6 17.5 30

 31 U.S.-chartered depository institutions 17.9 24.5 9.3 14.9 13.4 10.4 10.4 10.9 9.3 10.4 10.7 31

 32 Foreign banking offices in U.S. 0.7 0.3 5.4 8.5 7.0 8.2 8.3 6.7 7.2 8.2 6.8 32

 33 Asset: Rest of the world (1) 53.7 464.5 194.0 145.9 367.0 213.1 391.8 400.0 350.1 213.1 339.7 33

 Transactions between U.S. depository institutions (net) (2):

 34 U.S.-chartered depository institutions (net) 0.6 35.4 52.4 20.8 61.4 53.1 69.6 63.6 67.4 53.1 79.8 34

 35 Due to (3): 134.3 117.5 129.8 103.7 131.2 172.4 143.4 140.2 194.5 172.4 209.4 35

 36 Foreign banking offices in U.S. 113.2 65.8 43.7 41.9 41.9 45.6 47.3 49.3 49.6 45.6 39.3 36

 37 Banks in U.S.-affiliated areas 2.6 3.2 4.2 3.3 4.6 4.9 4.4 4.6 5.3 4.9 4.6 37

 38 Credit unions 60.3 65.9 76.8 34.7 58.4 67.9 61.6 69.3 74.6 67.9 83.5 38

 39 - Due from: Foreign banking offices in U.S. 133.7 82.1 77.4 82.9 69.8 119.2 73.8 76.6 127.0 119.2 129.6 39

 40 Unallocated (2) -41.8 -17.5 5.1 23.8 26.4 54.0 30.0 17.0 64.9 54.0 82.0 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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L.204 Checkable Deposits and Currency

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

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Total liabilities 1532.9 2101.3 2093.4 2359.8 2594.3 2857.8 2520.5 2594.3 2640.4 2857.8 2877.1 1

 2 Monetary authority 792.1 1220.3 1102.7 1287.8 1165.7 1224.6 1122.7 1178.4 1185.9 1224.6 1226.1 2

 3 Federal government cash and deposits 16.4 365.7 191.9 340.9 85.9 92.9 43.6 91.5 85.6 92.9 79.4 3

 4 Due to government-sponsored enterprises 1.7 21.1 35.1 13.5 64.6 27.2 36.9 29.9 22.6 27.2 20.2 4

 5 Deposits due to foreign 0.1 1.4 2.4 3.4 0.2 6.5 0.2 1.6 5.7 6.5 9.2 5

 6 Currency outside banks 773.9 832.2 873.3 930.0 1015.0 1098.1 1042.1 1055.3 1072.1 1098.1 1117.3 6

 7 U.S.-chartered depository institutions 639.6 777.5 871.6 941.1 1260.5 1435.6 1219.8 1232.0 1267.7 1435.6 1441.7 7

 8 Federal government deposits 42.9 3.5 3.8 3.6 1.0 1.3 1.3 1.2 1.1 1.3 1.5 8

 9 Deposits due to foreign 31.7 62.9 34.3 30.4 56.1 51.8 52.7 51.5 52.7 51.8 46.1 9

 10 Private domestic deposits 564.9 711.1 833.5 907.0 1203.5 1382.4 1165.8 1179.3 1214.0 1382.4 1394.0 10

 11 Foreign banking offices in U.S. 11.8 13.5 16.1 21.9 45.6 61.8 44.3 48.9 53.9 61.8 63.7 11

 12 Deposits due to foreign 2.3 4.7 10.5 14.6 19.0 27.9 18.9 20.8 22.6 27.9 28.5 12

 13 Private domestic deposits 9.5 8.8 5.6 7.3 26.6 33.9 25.4 28.1 31.2 33.9 35.1 13

 14 Banks in U.S.-affiliated areas 15.7 14.6 16.1 16.6 19.4 21.9 19.5 22.3 20.9 21.9 21.8 14

 15 Credit unions 73.7 75.3 86.9 92.4 103.1 113.9 114.1 112.7 111.9 113.9 123.8 15

 16 Total assets 1532.9 2101.3 2093.4 2359.8 2594.3 2857.8 2520.5 2594.3 2640.4 2857.8 2877.1 16

 17 Household sector 154.9 364.9 393.5 437.9 754.5 884.6 741.0 733.0 727.7 884.6 875.9 17

 18 Nonfinancial business 658.8 533.6 696.4 753.4 797.2 847.6 801.2 826.9 863.3 847.6 902.4 18

 19 Corporate 143.2 14.2 156.6 231.7 268.8 312.3 271.8 296.3 331.7 312.3 365.8 19

 20 Noncorporate 515.6 519.4 539.8 521.8 528.4 535.4 529.4 530.6 531.6 535.4 536.6 20

 21 State and local governments 71.4 79.9 99.1 104.6 121.4 118.0 119.0 117.1 111.8 118.0 115.4 21

 22 Federal government 56.5 368.0 193.6 342.1 84.3 92.0 42.0 89.3 83.4 92.0 79.4 22

 23 Rest of the world 306.1 370.1 361.0 390.5 472.3 540.4 486.9 496.2 519.4 540.4 543.1 23

 24 Checkable deposits 34.2 69.0 47.2 48.4 75.2 86.2 71.8 73.9 81.0 86.2 83.9 24

 25 Currency 272.0 301.1 313.8 342.1 397.1 454.2 415.1 422.3 438.4 454.2 459.2 25

 26 Financial sectors 275.1 378.3 343.6 325.6 358.1 368.3 323.7 324.6 327.9 368.3 356.2 26

 27 Property-casualty insurance companies 42.7 27.9 27.6 32.6 24.1 36.4 29.1 29.3 32.9 36.4 30.6 27

 28 Life insurance companies 58.3 82.8 50.7 51.7 53.7 56.4 52.9 56.1 53.5 56.4 57.1 28

 29 Private pension funds 17.1 13.4 10.4 12.6 14.3 13.0 13.5 13.2 12.9 13.0 12.3 29

 30 State and local govt. retirement funds 3.6 3.5 3.5 4.1 4.4 4.0 4.3 4.2 4.1 4.0 3.9 30

 31 Money market mutual funds 1.9 7.5 17.9 14.2 20.1 16.5 3.2 6.0 11.3 16.5 10.9 31

 32 Government-sponsored enterprises 13.7 88.3 99.4 63.4 72.7 52.6 42.5 52.9 36.1 52.6 64.1 32

 33 Finance companies 16.2 16.5 17.0 26.6 31.5 28.1 31.1 28.6 30.6 28.1 29.3 33

 34 REITs 16.6 18.4 26.3 23.5 25.6 33.1 29.8 29.0 32.7 33.1 38.7 34

 35 Brokers and dealers 105.0 120.1 90.7 96.9 111.8 128.2 117.4 105.2 113.5 128.2 109.3 35

 36 Mail float 10.0 6.4 6.3 5.7 6.5 7.0 6.6 7.2 7.0 7.0 4.5 36
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L.205 Time and Savings Deposits 

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

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Total liabilities 7606.7 7940.9 8316.3 8432.4 8805.2 9312.4 8914.8 8968.0 9080.4 9312.4 9362.4 1

 2 Small time and savings deposits 5224.5 5749.3 6326.5 6624.9 7202.2 7803.9 7410.5 7456.9 7595.4 7803.9 7871.4 2

 3 U.S.-chartered depository institutions 4664.0 5144.6 5617.0 5888.6 6425.7 6979.3 6598.7 6636.4 6775.6 6979.3 7018.7 3

 4 Foreign banking offices in U.S. 25.5 25.6 29.9 35.7 48.9 62.7 57.9 62.1 62.4 62.7 67.9 4

 5 Banks in U.S.-affiliated areas 26.3 27.4 24.5 19.3 18.9 18.8 18.7 19.6 18.5 18.8 19.0 5

 6 Credit unions 508.7 551.7 655.2 681.3 708.7 743.1 735.2 738.8 738.9 743.1 765.8 6

 7 Large time deposits (1) 2382.2 2191.6 1989.8 1807.5 1603.0 1508.5 1504.3 1511.1 1485.0 1508.5 1491.0 7

 8 U.S.-chartered depository institutions 1378.2 1309.2 979.4 849.1 813.9 738.2 743.4 777.4 749.1 738.2 709.0 8

 9 Foreign banking offices in U.S. 907.9 784.7 958.6 909.0 736.6 711.8 706.8 678.2 679.8 711.8 721.6 9

 10 Banks in U.S.-affiliated areas 26.3 27.4 24.5 19.3 18.9 18.8 18.7 19.6 18.5 18.8 19.0 10

 11 Credit unions 69.9 70.4 27.3 30.1 33.5 39.7 35.3 35.9 37.5 39.7 41.4 11

 12 Total assets 7606.7 7940.9 8316.3 8432.4 8805.2 9312.4 8914.8 8968.0 9080.4 9312.4 9362.4 12

 13 Household sector 5912.7 6102.6 6265.1 6384.0 6734.3 7096.9 6844.5 6904.1 6930.6 7096.9 7163.6 13

 14 Nonfinancial business 800.7 740.0 842.1 905.0 922.8 955.8 939.5 935.4 955.3 955.8 960.2 14

 15 Corporate 441.3 381.9 488.8 548.7 563.0 591.4 579.0 574.2 593.5 591.4 595.0 15

 16 Noncorporate 359.3 358.1 353.3 356.2 359.8 364.4 360.5 361.3 361.8 364.4 365.2 16

 17 State and local governments 220.0 238.9 248.1 241.3 256.5 292.3 275.2 271.0 284.4 292.3 298.5 17

 18 Federal government 2.8 1.6 1.9 2.0 1.7 2.0 2.0 2.2 2.1 2.0 1.6 18

 19 Rest of the world 207.6 273.1 230.0 246.9 280.0 326.0 271.5 284.9 296.7 326.0 308.9 19

 20 Financial sectors 462.9 584.8 729.0 653.3 609.8 639.3 582.0 570.4 611.3 639.3 629.6 20

 21 Private pension funds 46.1 42.6 46.0 43.7 49.3 42.9 46.2 45.5 44.5 42.9 40.6 21

 22 State and local govt. retirement funds 26.6 26.9 28.5 34.9 37.7 34.7 36.9 35.9 35.3 34.7 33.8 22

 23 Money market mutual funds 294.0 396.8 566.6 458.9 402.7 435.4 375.5 365.8 396.9 435.4 429.4 23

 24 Government-sponsored enterprises 46.6 68.5 25.7 26.1 13.4 4.3 11.1 9.8 3.7 4.3 3.6 24

 25 Finance companies 48.6 49.4 51.0 79.8 94.4 84.2 93.3 85.9 91.9 84.2 87.8 25

 26 Holding companies 0.8 0.7 11.2 10.0 12.4 37.8 19.1 27.5 39.0 37.8 34.5 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; amounts outstanding end of period, not seasonally adjusted

 1 Total assets 3033.0 3757.3 3258.6 2755.4 2642.5 2649.6 2535.5 2467.9 2506.9 2649.6 2554.0 1

 2 Household sector 1346.7 1581.8 1313.2 1129.7 1109.9 1110.2 1052.2 1024.2 1045.4 1110.2 1059.9 2

 3 Nonfinancial corporate business 548.5 727.0 655.5 497.8 462.4 458.3 445.2 433.5 440.5 458.3 448.5 3

 4 Nonfinancial noncorporate business 74.3 75.4 73.7 76.8 77.7 78.7 77.8 78.0 78.1 78.7 78.8 4

 5 State and local governments 116.6 113.3 122.2 130.1 126.8 119.8 125.8 124.6 123.1 119.8 120.1 5

 6 Rest of the world 46.0 69.7 76.9 69.8 79.5 114.3 91.6 107.6 110.7 114.3 115.3 6

 7 Property-casualty insurance companies 20.7 32.8 29.6 25.6 20.0 23.8 20.9 21.8 22.8 23.8 22.8 7

 8 Life insurance companies 21.6 39.2 33.7 21.0 28.8 24.0 27.4 26.2 25.1 24.0 27.5 8

 9 Private pension funds 128.5 93.6 86.7 76.3 82.8 72.5 77.9 76.8 75.0 72.5 68.4 9

 10 State and local govt. retirement funds 48.9 43.7 40.9 44.0 45.0 41.4 44.1 43.0 42.2 41.4 40.4 10

 11 Funding corporations 681.3 981.0 826.3 684.3 609.7 606.7 572.5 532.2 544.1 606.7 572.3 11
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L.207 Federal Funds and Security Repurchase Agreements

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

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Total liabilities 2150.4 1262.5 1496.9 1276.0 1148.0 1122.9 1194.6 1183.6 1149.0 1122.9 1097.5 1

 2 Monetary authority 44.0 88.4 77.7 59.7 99.9 107.2 96.7 85.5 92.7 107.2 105.5 2

 3 Private depository institutions (net) 839.0 491.8 844.2 678.7 605.5 493.5 575.1 584.2 552.7 493.5 473.3 3

 4 U.S.-chartered depository institutions (net) 615.3 359.6 674.1 455.5 347.9 209.8 308.2 301.8 273.1 209.8 189.1 4

 5 Foreign banking offices in U.S. (net) 226.3 130.0 170.3 223.2 273.4 293.4 287.8 295.3 288.2 293.4 293.9 5

 6 Credit unions (net) -2.5 2.3 -0.1 -0.0 -15.9 -9.7 -20.9 -12.9 -8.6 -9.7 -9.7 6

 7 Property-casualty insurance companies 0.5 2.4 0.6 1.5 0.4 0.8 0.5 0.5 0.6 0.8 1.1 7

 8 Life insurance companies 20.2 12.9 12.4 10.3 10.4 13.5 10.8 11.7 12.7 13.5 13.7 8

 9 REITs 91.7 79.4 90.4 120.5 215.4 318.7 258.7 280.9 319.9 318.7 319.3 9

 10 Brokers and dealers (net) 1147.3 586.9 470.9 404.7 215.3 189.2 251.7 219.9 169.2 189.2 184.7 10

 11 Holding companies 7.7 0.7 0.6 0.8 1.2 0.0 1.1 1.1 1.2 0.0 0.0 11

 12 Total assets 1426.8 1119.4 976.6 862.3 847.6 949.5 857.8 882.2 944.8 949.5 1027.1 12

 13 Nonfinancial corporate business 8.1 7.2 7.9 12.1 12.6 10.4 13.6 13.9 11.3 10.4 13.0 13

 14 State and local governments 132.8 117.2 113.3 108.3 100.0 94.5 99.2 98.3 97.1 94.5 94.7 14

 15 Rest of the world (net) 338.4 114.9 31.0 -96.1 -44.9 -84.7 -83.2 -117.6 -98.6 -84.7 -11.8 15

 16 Monetary authority 46.5 80.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Property-casualty insurance companies 3.6 4.4 4.5 3.8 1.7 1.9 1.8 1.8 1.8 1.9 1.8 17

 18 Life insurance companies 2.7 8.0 10.2 10.9 10.1 7.4 8.2 7.9 7.7 7.4 7.2 18

 19 Private pension funds 3.7 2.8 2.9 2.7 2.9 2.6 2.8 2.7 2.9 2.6 2.4 19

 20 State and local govt. retirement funds 3.3 3.0 3.0 3.4 3.6 3.3 3.5 3.4 3.3 3.3 3.2 20

 21 Money market mutual funds 605.9 542.4 480.0 479.4 490.5 544.7 498.2 514.9 513.2 544.7 470.7 21

 22 Mutual funds 132.2 124.7 153.3 137.5 108.7 207.2 206.2 217.7 230.7 207.2 241.1 22

 23 Government-sponsored enterprises (net) 142.7 114.5 122.1 150.0 111.9 150.8 107.2 138.7 174.9 150.8 193.4 23

 24 Holding companies 6.9 0.3 48.2 50.3 50.5 11.5 0.3 0.3 0.4 11.5 11.3 24

 25 Funding corporations 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.0 25

 26 Discrepancy--unallocated assets 723.6 143.1 520.3 413.8 300.4 173.4 336.8 301.4 204.2 173.4 70.5 26
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L.208 Open Market Paper

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

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Total outstanding, all types 1788.9 1599.8 1138.0 1057.6 969.3 952.3 994.4 962.0 957.2 952.3 1001.2 1

 2 Commercial paper 1788.1 1599.3 1137.4 1057.5 969.2 952.3 994.4 962.0 957.2 952.3 1001.2 2

 3 Nonfinancial corporate business 123.8 131.5 58.4 82.9 116.3 130.5 127.6 132.1 136.1 130.5 140.2 3

 4 Foreign issues in U.S. 413.0 342.0 401.3 398.6 345.1 372.7 362.6 357.4 366.4 372.7 407.2 4

 5 Nonfinancial 29.0 49.7 34.5 30.6 30.2 40.4 32.8 40.7 39.2 40.4 34.4 5

 6 Financial 384.0 292.3 366.8 368.0 314.9 332.3 329.8 316.7 327.2 332.3 372.8 6

 7 Financial business 1251.3 1125.8 677.6 575.9 507.8 449.2 504.2 472.6 454.7 449.2 453.8 7

 8 U.S.-chartered depository institutions 0.0 0.0 0.0 112.9 120.6 87.5 104.3 102.1 90.7 87.5 74.4 8

 9 ABS issuers 643.1 559.3 293.1 120.2 96.0 87.0 97.7 85.2 86.8 87.0 87.9 9

 10 Finance companies 123.5 100.9 62.1 111.0 121.0 129.1 122.8 122.5 123.1 129.1 121.8 10

 11 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Holding companies 116.7 77.7 60.8 64.7 75.9 116.4 87.2 87.0 117.0 116.4 117.7 12

 13 Funding corporations 367.9 388.0 261.7 167.1 94.3 29.1 92.2 75.8 37.1 29.1 51.9 13

 14 Bankers’ acceptances (1) 0.8 0.5 0.6 0.1 0.1 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 U.S.-chartered depository institutions 0.3 0.5 0.6 0.1 0.1 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Foreign banking offices in U.S. 0.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Holdings, by sector 1788.9 1599.8 1138.0 1057.6 969.3 952.3 994.4 962.0 957.2 952.3 1001.2 17

 18 Household sector 107.3 6.0 34.6 31.7 29.1 28.6 29.8 28.9 28.7 28.6 30.0 18

 19 Nonfinancial corporate business 69.5 57.3 56.0 68.0 68.0 61.8 62.8 58.0 60.6 61.8 64.2 19

 20 State and local governments 139.3 57.4 -15.8 44.4 68.3 62.3 67.5 66.5 65.2 62.3 62.6 20

 21 Rest of the world 278.1 232.9 191.5 191.0 191.7 195.2 203.3 188.9 190.2 195.2 203.9 21

 22 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 U.S.-chartered depository institutions (1) 0.0 15.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 Foreign banking offices in U.S. (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 Credit unions 0.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 Property-casualty insurance companies 13.3 19.1 9.8 7.9 8.8 7.4 8.4 8.1 7.8 7.4 7.1 26

 27 Life insurance companies 41.7 38.3 49.8 40.9 29.7 40.5 33.1 35.0 37.4 40.5 43.6 27

 28 Private pension funds 121.8 94.6 93.2 92.0 103.9 90.8 98.3 97.7 93.9 90.8 77.6 28

 29 State and local govt. retirement funds 31.6 31.0 32.1 38.4 41.0 37.8 40.2 39.1 38.5 37.8 36.8 29

 30 Money market mutual funds 674.6 618.5 510.5 394.2 354.2 340.8 355.5 326.5 319.4 340.8 351.1 30

 31 Mutual funds 114.1 51.6 80.2 66.3 40.0 133.1 132.1 143.0 155.9 133.1 166.4 31

 32 Government-sponsored enterprises 27.7 6.8 9.7 9.9 6.5 3.4 5.2 5.7 4.2 3.4 4.2 32

 33 Brokers and dealers 87.1 65.7 41.5 36.2 42.1 29.9 43.7 34.7 33.2 29.9 29.9 33

 34 Funding corporations 82.5 304.9 44.9 36.6 -13.9 -79.2 -85.5 -70.0 -77.6 -79.2 -76.2 34

(1) Excludes banks’ holdings of own acceptances.
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L.209 Treasury Securities

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

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Total liabilities 5099.2 6338.2 7781.9 9361.5 10428.3 11568.9 10827.5 11025.6 11255.5 11568.9 11905.5 1

 2 Savings bonds 196.4 194.0 191.2 187.9 185.2 182.4 184.7 184.3 183.6 182.4 181.7 2

 3 Treasury bills 999.5 1861.2 1787.9 1768.9 1519.5 1626.5 1672.6 1594.4 1613.0 1626.5 1788.2 3

 4 Other Treasury securities 3903.3 4283.0 5802.8 7404.7 8723.7 9760.0 8970.1 9246.9 9458.9 9760.0 9935.6 4

 5 Total assets 5099.2 6338.2 7781.9 9361.5 10428.3 11568.9 10827.5 11025.6 11255.5 11568.9 11905.5 5

 6 Household sector 183.0 269.4 905.9 1265.2 815.8 1197.8 1007.2 1052.2 1081.7 1197.8 1229.4 6

 7 Savings bonds 196.4 194.0 191.2 187.9 185.2 182.4 184.7 184.3 183.6 182.4 181.7 7

 8 Bills and other Treasury securities -13.4 75.4 714.7 1077.3 630.6 1015.4 822.4 867.9 898.1 1015.4 1047.7 8

 9 Nonfinancial corporate business 38.3 30.5 43.0 48.0 43.2 58.2 48.0 59.1 63.6 58.2 56.5 9

 10 Nonfinancial noncorporate business 59.3 51.8 46.1 48.1 48.5 49.2 48.6 48.7 48.8 49.2 49.3 10

 11 State and local governments 588.1 526.7 547.7 539.8 486.3 478.4 484.4 490.7 483.1 478.4 474.5 11

 12 Rest of the world 2376.4 3253.0 3670.6 4466.6 5071.1 5526.1 5131.5 5297.1 5448.8 5526.1 5701.4 12

 13 Treasury bills 300.5 758.0 750.4 710.3 647.7 661.7 634.2 630.1 679.1 661.7 720.2 13

 14 Other Treasury securities 2075.9 2495.0 2920.2 3756.3 4423.4 4864.4 4497.4 4667.0 4769.7 4864.4 4981.2 14

 15 Monetary authority 740.6 475.9 776.6 1021.5 1663.4 1666.1 1661.1 1659.9 1645.3 1666.1 1796.0 15

 16 Treasury bills 227.8 18.4 18.4 18.4 18.4 0.0 18.4 18.4 0.0 0.0 0.0 16

 17 Other Treasury securities 512.8 457.5 758.2 1003.1 1645.0 1666.1 1642.7 1641.5 1645.3 1666.1 1796.0 17

 18 U.S.-chartered depository institutions 80.1 56.4 124.5 217.5 173.9 243.2 187.8 212.5 227.8 243.2 230.3 18

 19 Foreign banking offices in U.S. 30.4 35.5 57.5 60.9 60.5 76.6 71.6 61.0 77.3 76.6 79.5 19

 20 Banks in U.S.-affiliated areas 1.8 1.2 0.5 1.1 1.0 0.4 0.9 1.3 1.0 0.4 0.4 20

 21 Credit unions 10.4 8.8 14.2 20.1 17.6 19.3 20.3 19.9 20.9 19.3 20.5 21

 22 Property-casualty insurance companies 71.3 65.6 88.5 91.7 96.4 90.2 94.5 92.8 91.4 90.2 89.5 22

 23 Treasury bills 16.2 10.8 15.8 15.5 17.4 14.9 16.7 16.1 15.5 14.9 22.8 23

 24 Other Treasury securities 55.1 54.8 72.8 76.2 78.9 75.4 77.8 76.7 75.9 75.4 66.7 24

 25 Life insurance companies 70.6 105.7 133.5 156.6 167.1 171.8 168.9 167.8 170.3 171.8 173.7 25

 26 Treasury bills 2.3 20.1 13.9 10.2 14.0 8.3 12.2 10.7 9.4 8.3 9.5 26

 27 Other Treasury securities 68.3 85.6 119.6 146.4 153.1 163.5 156.7 157.1 160.8 163.5 164.2 27

 28 Private pension funds 186.5 147.4 182.4 215.6 249.6 294.1 263.6 274.2 286.2 294.1 298.8 28

 29 State and local govt. retirement funds 144.2 129.9 151.9 160.0 174.4 217.9 191.0 197.8 206.5 217.9 229.0 29

 30 Federal government retirement funds 87.7 112.4 119.8 129.8 147.7 160.0 148.3 151.6 154.1 160.0 158.9 30

 31 Money market mutual funds 178.2 577.7 406.4 335.4 443.3 457.8 473.8 444.6 456.3 457.8 470.5 31

 32 Treasury bills 136.9 478.7 318.5 234.5 263.7 282.8 285.4 239.8 245.0 282.8 276.1 32

 33 Other Treasury securities 41.3 98.9 87.9 100.9 179.7 175.0 188.4 204.9 211.3 175.0 194.3 33

 34 Mutual funds 178.6 177.4 247.4 290.7 361.4 445.2 384.5 409.5 426.6 445.2 470.3 34

 35 Closed-end funds 5.6 3.2 4.4 5.1 4.8 5.2 5.1 5.0 5.2 5.2 5.7 35

 36 Exchange-traded funds 19.7 27.1 41.8 51.0 62.4 63.6 62.0 67.3 62.7 63.6 62.8 36

 37 Government-sponsored enterprises 15.5 16.8 36.6 82.6 100.2 69.0 104.9 77.0 72.3 69.0 74.6 37

 38 ABS issuers 85.8 72.2 53.9 40.1 29.2 23.4 25.9 24.8 23.2 23.4 20.5 38

 39 Brokers and dealers -60.0 190.6 123.0 94.5 183.6 246.5 203.8 201.2 190.2 246.5 202.6 39

 40 Holding companies 7.1 3.1 5.8 19.6 26.8 9.0 39.6 9.6 12.3 9.0 10.6 40

 Memo:

 41 Federal government debt (1) 5122.3 6361.5 7805.4 9385.6 10453.6 11593.7 10851.9 11050.1 11279.9 11593.7 11930.1 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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94 Z.1, June 6, 2013

L.210 Agency- and GSE-Backed Securities (1)

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

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Total liabilities 7397.7 8166.7 8106.8 7598.2 7577.4 7554.6 7533.0 7541.7 7543.9 7554.6 7590.8 1

 2 Budget agencies 23.1 23.3 23.5 24.2 25.3 24.9 24.4 24.5 24.4 24.9 24.6 2

 3 Government-sponsored enterprises 2910.2 3181.9 2706.6 6434.5 6247.3 6092.7 6178.6 6139.8 6111.5 6092.7 6103.5 3

 4 Agency- and GSE-backed mortgage pools 4464.4 4961.4 5376.7 1139.5 1304.8 1437.0 1329.9 1377.3 1408.0 1437.0 1462.7 4

 5 Total assets 7397.7 8166.7 8106.8 7598.2 7577.4 7554.6 7533.0 7541.7 7543.9 7554.6 7590.8 5

 6 Household sector 874.3 1097.8 435.7 389.9 372.8 96.9 273.2 237.6 176.0 96.9 10.3 6

 7 Nonfinancial corporate business 12.8 10.2 14.3 16.0 14.4 14.4 16.0 17.2 18.7 14.4 8.8 7

 8 State and local governments 467.6 431.4 400.3 385.0 338.1 315.2 327.3 323.5 322.3 315.2 320.3 8

 9 Federal government 0.0 54.4 196.4 149.2 31.1 0.0 1.5 0.0 0.0 0.0 0.0 9

 10 Rest of the world 1582.4 1406.9 1154.9 1084.0 1089.6 1125.9 1088.5 1087.7 1120.2 1125.9 1087.2 10

 11 Monetary authority 0.0 19.7 1068.3 1139.6 941.7 1003.4 933.3 946.5 918.4 1003.4 1143.4 11

 12 U.S.-chartered depository institutions 1106.3 1242.5 1417.4 1527.2 1634.1 1669.7 1699.2 1668.4 1672.7 1669.7 1710.5 12

 13 Foreign banking offices in U.S. 57.1 50.6 31.3 26.5 30.6 32.1 29.0 32.3 30.2 32.1 27.7 13

 14 Banks in U.S.-affiliated areas 26.3 24.4 20.5 12.8 4.8 2.6 5.1 4.8 4.0 2.6 2.4 14

 15 Credit unions 68.4 82.9 110.7 151.5 182.1 197.0 195.7 200.6 198.5 197.0 207.7 15

 16 Property-casualty insurance companies 125.8 114.3 116.2 115.8 122.7 113.6 120.0 117.4 115.3 113.6 113.3 16

 17 Life insurance companies 382.9 366.2 371.9 376.0 374.7 361.6 373.4 365.5 364.8 361.6 359.2 17

 18 Private pension funds 253.9 190.3 184.0 190.4 197.8 216.2 202.5 208.9 212.5 216.2 216.3 18

 19 State and local govt. retirement funds 191.2 160.6 157.6 159.4 167.5 187.2 176.1 180.0 182.3 187.2 189.1 19

 20 Federal government retirement funds 5.4 5.2 5.2 5.8 6.5 7.2 7.0 7.6 7.1 7.2 6.6 20

 21 Money market mutual funds 235.9 756.2 543.0 402.8 403.7 343.5 327.3 334.6 331.4 343.5 325.6 21

 22 Mutual funds 563.5 559.8 613.8 769.9 879.9 1006.1 919.1 956.1 980.7 1006.1 1034.9 22

 23 Government-sponsored enterprises 702.9 910.0 924.5 377.0 358.9 310.6 347.7 342.4 323.9 310.6 300.6 23

 24 ABS issuers 352.0 325.3 100.4 5.0 0.7 0.2 0.3 0.3 0.2 0.2 0.1 24

 25 REITs 88.9 89.6 105.1 143.3 244.7 356.2 296.4 314.2 375.4 356.2 343.6 25

 26 Brokers and dealers 290.2 242.6 110.9 149.8 147.7 169.6 148.7 169.8 165.5 169.6 153.9 26

 27 Holding companies 9.9 25.8 24.3 21.1 33.1 25.2 45.7 26.3 23.8 25.2 29.1 27

(1) Agency- and GSE-backed securities include: issues of federal budget agencies (line 2) such as those for the TVA; issues of government sponsored enterprises (line 3) such as Fannie Mae and FHLB;

 and agency- and GSE-backed mortgage pool securities issued by GNMA, Fannie Mac, Freddie Mac, and the Farmers Home Administration (line 4). Only the budget agency issues are considered

 officially to be part of the total debt of the federal government, which is shown in table L.209, line 35.
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L.211 Municipal Securities and Loans

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

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Total liabilities 3424.8 3517.2 3672.5 3772.1 3719.4 3714.4 3720.0 3732.4 3719.4 3714.4 3728.6 1

 2 State and local governments 2825.6 2842.7 2954.9 3023.6 2970.0 2964.3 2970.9 2977.7 2969.7 2964.3 2978.9 2

 3 Short-term (1) 51.2 55.8 63.6 63.0 52.3 56.1 51.9 43.4 55.7 56.1 54.5 3

 4 Long-term 2774.4 2786.9 2891.3 2960.6 2917.6 2908.2 2919.0 2934.3 2914.0 2908.2 2924.4 4

 5 Nonprofit organizations (2) 250.2 259.5 265.4 263.2 255.5 241.0 253.8 249.5 245.6 241.0 239.4 5

 6 Nonfinancial corporate business 349.0 415.0 452.2 485.4 493.9 509.1 495.2 505.3 504.1 509.1 510.4 6

 (industrial revenue bonds)

 7 Total assets 3424.8 3517.2 3672.5 3772.1 3719.4 3714.4 3720.0 3732.4 3719.4 3714.4 3728.6 7

 8 Household sector 1674.1 1722.0 1829.1 1873.3 1807.7 1656.5 1781.3 1774.4 1709.1 1656.5 1657.7 8

 9 Nonfinancial corporate business 29.2 26.2 27.1 23.9 22.5 35.1 25.8 24.9 29.3 35.1 30.4 9

 10 Nonfinancial noncorporate business 5.3 4.9 5.1 5.6 5.7 5.8 5.7 5.7 5.7 5.8 5.8 10

 11 State and local governments 9.5 9.4 10.3 11.1 10.9 10.3 10.8 10.7 10.6 10.3 10.4 11

 12 Rest of the world 45.1 51.0 58.7 71.7 70.3 65.4 71.6 70.1 72.7 65.4 63.7 12

 13 U.S.-chartered depository institutions 202.0 221.9 224.3 254.6 297.3 363.1 307.2 327.4 350.0 363.1 374.2 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 0.0 14

 15 Banks in U.S.-affiliated areas 2.0 2.5 3.5 2.5 3.4 2.6 3.4 2.8 2.8 2.6 2.7 15

 16 Credit unions 0.0 0.0 0.0 0.0 3.2 4.2 4.7 3.9 3.8 4.2 5.3 16

 17 Property-casualty insurance companies 371.3 381.9 369.4 348.4 331.0 327.6 329.2 327.5 327.0 327.6 326.8 17

 18 Life insurance companies 41.4 47.1 73.1 112.3 121.6 131.2 124.8 125.1 128.7 131.2 131.9 18

 19 State and local govt. retirement funds 1.5 1.3 1.4 2.2 3.6 6.4 4.2 5.1 5.6 6.4 7.0 19

 20 Money market mutual funds 496.6 509.5 440.1 386.7 357.3 336.7 341.2 325.4 320.1 336.7 312.6 20

 21 Mutual funds 371.6 389.4 478.8 525.5 541.2 627.4 561.9 583.7 610.5 627.4 644.4 21

 22 Closed-end funds 91.2 77.9 81.2 81.6 83.1 86.3 83.7 84.5 85.1 86.3 86.9 22

 23 Exchange-traded funds 0.6 2.3 5.9 7.6 8.6 12.3 9.7 10.5 11.3 12.3 13.0 23

 24 Government-sponsored enterprises 33.3 31.3 29.1 24.9 21.0 17.0 20.2 19.4 18.1 17.0 24.9 24

 25 Brokers and dealers 50.1 38.7 35.4 40.0 30.9 26.6 34.7 31.2 29.0 26.6 31.0 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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L.212 Corporate and Foreign Bonds

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

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Total liabilities 11577.0 11169.7 11654.0 11816.3 11975.5 12624.1 12166.7 12146.9 12421.6 12624.1 12791.7 1

 2 Nonfinancial corporate business 3729.1 3954.5 4366.2 4804.8 5215.6 5795.2 5346.4 5452.9 5599.7 5795.2 5937.7 2

 3 Rest of the world (1) 1587.1 1237.3 1570.3 1689.5 1763.8 1843.6 1775.3 1748.0 1802.3 1843.6 1917.2 3

 4 Financial sectors 6260.8 5977.9 5717.5 5322.1 4996.2 4985.3 5045.0 4946.0 5019.6 4985.3 4936.8 4

 5 U.S.-chartered depository institutions 184.8 184.8 176.3 436.8 415.8 415.8 427.2 414.4 409.9 415.8 413.9 5

 6 ABS issuers (net) (2) 3871.4 3541.7 2994.5 2110.7 1886.8 1679.8 1825.1 1776.8 1713.7 1679.8 1638.2 6

 7 Finance companies 974.1 924.5 837.5 1078.4 1039.8 961.4 1031.4 1009.9 1007.3 961.4 956.3 7

 8 REITs 231.3 171.0 129.8 129.7 145.1 171.2 152.6 158.9 163.5 171.2 174.4 8

 9 Brokers and dealers 64.8 97.1 92.9 129.7 91.8 90.2 98.0 102.1 85.8 90.2 89.1 9

 10 Holding companies 516.0 638.9 1028.7 982.2 890.6 1105.3 982.3 951.2 1081.9 1105.3 1093.9 10

 11 Funding corporations 418.5 419.9 457.8 454.6 526.2 561.5 528.4 532.7 557.4 561.5 571.0 11

 12 Total assets (3) 11577.0 11169.7 11654.0 11816.3 11975.5 12624.1 12166.7 12146.9 12421.6 12624.1 12791.7 12

 13 Household sector 1899.3 1968.1 2314.9 2251.6 2273.3 2402.0 2244.4 2226.0 2331.1 2402.0 2454.6 13

 14 State and local governments 149.1 137.8 140.8 142.5 135.6 128.1 134.5 133.3 131.6 128.1 128.5 14

 15 Federal government 0.0 0.0 0.6 0.9 0.8 0.6 0.8 0.8 0.7 0.6 0.6 15

 16 Rest of the world (4) 2719.1 2353.5 2465.3 2523.3 2503.2 2580.6 2524.1 2482.0 2550.8 2580.6 2618.5 16

 17 MBS and other ABS 846.7 584.0 484.8 441.4 415.5 387.4 407.2 404.4 393.4 387.4 382.5 17

 18 Other 1872.5 1769.5 1980.5 2081.9 2087.7 2193.2 2116.9 2077.6 2157.3 2193.2 2236.0 18

 19 U.S.-chartered depository institutions 714.6 650.5 667.1 548.9 551.8 550.7 532.3 528.8 542.6 550.7 547.0 19

 20 MBS and other ABS 383.7 314.6 262.9 174.9 150.1 149.1 137.1 151.6 151.1 149.1 146.3 20

 21 Other 330.9 335.9 404.1 374.0 401.8 401.6 395.2 377.2 391.5 401.6 400.7 21

 22 Foreign banking offices in U.S. 369.5 401.6 244.9 233.9 234.5 228.7 216.4 216.6 223.9 228.7 210.4 22

 23 Banks in U.S.-affiliated areas 0.5 0.5 2.0 0.6 4.2 5.2 4.3 4.1 4.6 5.2 5.6 23

 24 Credit unions 34.6 28.9 22.3 6.6 6.3 6.7 6.9 7.0 6.6 6.7 6.8 24

 25 MBS and other ABS 0.0 3.3 3.6 6.1 5.9 6.6 6.5 6.7 6.5 6.6 6.7 25

 26 Other 34.6 25.7 18.6 0.5 0.4 0.1 0.4 0.3 0.2 0.1 0.1 26

 27 Property-casualty insurance companies 282.9 267.5 298.3 322.6 363.1 379.8 366.1 369.3 373.9 379.8 379.4 27

 28 MBS and other ABS 0.0 0.0 0.0 0.0 71.3 74.0 71.9 72.6 73.3 74.0 74.6 28

 29 Other 282.9 267.5 298.3 322.6 291.8 305.8 294.2 296.7 300.6 305.8 304.8 29

 30 Life insurance companies 1862.6 1817.0 1927.2 2030.2 2123.6 2167.4 2150.1 2126.1 2155.9 2167.4 2186.9 30

 31 MBS and other ABS 0.0 0.0 0.0 0.0 434.9 410.6 427.4 421.7 416.1 410.6 413.1 31

 32 Other 1862.6 1817.0 1927.2 2030.2 1688.7 1756.8 1722.7 1704.4 1739.8 1756.8 1773.9 32

 33 Private pension funds 447.2 374.6 360.0 443.4 441.7 360.6 408.7 397.3 376.4 360.6 339.7 33

 34 State and local govt. retirement funds 463.1 485.1 382.8 388.5 364.2 305.1 348.8 332.6 314.1 305.1 295.8 34

 35 Federal government retirement funds 6.3 5.8 5.7 5.9 7.3 8.3 7.6 7.9 8.3 8.3 7.8 35

 36 Money market mutual funds 376.8 228.0 169.9 154.2 105.1 102.1 102.9 97.3 93.0 102.1 103.0 36

 37 Mutual funds 886.5 956.2 1120.7 1243.0 1413.4 1719.4 1489.9 1550.0 1633.4 1719.4 1818.9 37

 38 Closed-end funds 74.3 49.4 55.5 59.6 57.2 65.2 59.2 60.0 62.7 65.2 71.7 38

 39 Exchange-traded funds 13.8 27.7 55.4 74.1 107.7 155.3 123.4 135.7 147.1 155.3 162.3 39

 40 Government-sponsored enterprises 464.4 386.6 310.8 293.9 260.5 205.9 253.9 227.1 221.2 205.9 192.3 40

 41 MBS and other ABS 373.4 309.1 302.9 269.0 234.3 198.5 229.8 212.2 207.6 198.5 185.0 41

 42 Other 90.9 77.5 7.9 24.8 26.2 7.4 24.1 14.9 13.6 7.4 7.3 42

 43 Finance companies 189.4 192.4 198.6 83.9 84.8 78.5 84.7 86.7 85.1 78.5 77.8 43

 44 REITs 34.4 11.7 15.5 20.8 22.1 32.2 25.6 27.6 30.6 32.2 35.0 44

 45 Brokers and dealers 382.8 123.8 154.4 189.5 104.5 140.0 149.3 130.8 139.3 140.0 141.1 45

 46 Holding companies 35.9 35.8 31.1 38.3 18.3 79.9 84.6 94.3 86.0 79.9 80.3 46

 47 Funding corporations 170.0 667.3 710.2 760.1 792.4 921.9 848.4 905.4 902.7 921.9 927.5 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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L.213 Corporate Equities (1)

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

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Issues at market value 25580.9 15640.5 20085.5 23370.8 22737.3 26028.4 25432.9 24351.5 25742.1 26028.4 28438.4 1

 2 Nonfinancial corporate business 15730.7 10016.6 12512.2 14441.8 14508.5 16162.3 16070.6 15539.0 16340.7 16162.3 17858.9 2

 3 Rest of the world (2) 5248.0 2748.4 3995.3 4646.9 4158.2 4919.5 4649.6 4306.9 4629.9 4919.5 5106.1 3

 4 Financial corporations 4602.2 2875.4 3578.1 4282.1 4070.5 4946.5 4712.8 4505.6 4771.5 4946.5 5473.4 4

 5 Holdings at market value 25580.9 15640.5 20085.5 23370.8 22737.3 26028.4 25432.9 24351.5 25742.1 26028.4 28438.4 5

 6 Household sector 10448.0 5954.4 7518.3 8843.9 8866.3 10178.4 9892.2 9534.3 9960.5 10178.4 11242.8 6

 7 State and local governments 94.5 60.5 80.9 77.9 72.3 68.3 71.7 71.0 70.2 68.3 68.5 7

 8 Federal government 0.0 188.7 67.4 49.9 57.8 39.9 48.2 43.6 41.2 39.9 38.6 8

 9 Rest of the world (3) 2811.3 1807.1 2476.7 2962.0 2783.0 3106.1 3109.5 2903.5 3137.5 3106.1 3445.8 9

 10 Monetary authority 0.0 0.0 25.1 26.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 U.S.-chartered depository institutions 88.8 33.8 63.6 73.6 67.4 87.1 80.4 75.0 83.4 87.1 96.8 11

 12 Foreign banking offices in U.S. 0.0 0.0 0.0 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Property-casualty insurance companies 236.2 193.3 219.8 219.2 224.4 258.3 248.9 244.4 257.9 258.3 273.4 13

 14 Life insurance companies 1464.6 1001.7 1208.5 1402.6 1390.2 1545.1 1524.3 1478.3 1543.7 1545.1 1654.9 14

 15 Private pension funds 1935.5 1380.4 1647.1 1938.3 1949.0 2171.1 2128.6 2083.7 2196.6 2171.1 2283.3 15

 16 State and local govt. retirement funds 1935.7 1267.2 1617.8 1778.2 1701.9 1993.2 1927.1 1872.5 1984.2 1993.2 2188.6 16

 17 Federal government retirement funds 145.7 83.7 116.8 140.9 134.4 152.7 153.1 146.3 153.3 152.7 172.3 17

 18 Mutual funds 5476.9 3014.1 4136.2 4762.7 4427.2 5107.0 5044.0 4744.2 5037.8 5107.0 5557.8 18

 19 Closed-end funds 145.2 72.5 88.1 97.4 96.5 101.2 98.3 96.8 100.9 101.2 107.3 19

 20 Exchange-traded funds 573.7 474.0 670.0 854.1 863.8 1093.3 990.4 944.5 1047.1 1093.3 1195.9 20

 21 Brokers and dealers 224.8 109.2 124.2 117.2 103.2 126.7 116.3 113.5 127.9 126.7 112.4 21

 22 Funding corporations 0.0 0.0 25.1 26.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 Memo:

 23 Market value of domestic corporations (4) 19064.3 12009.3 14899.4 17335.9 17223.8 19442.2 19249.1 18570.5 19495.1 19442.2 21546.6 23

(1) Excludes mutual fund shares shown on table L.214.

(2) Holdings of foreign issues by U.S. residents; includes American Depositary Receipts (ADRs).

(3) Holdings of U.S. issues by foreign residents.

(4) Sum of lines 2 and 4 less the sum of lines 11, 12, 13, 19, 20, 21, and 22; line 1 excludes intercorporate holdings of nonfinancial corporations.

L.214 Mutual Fund Shares (1)

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

 1 Shares at market value 7822.6 5388.0 6920.7 7873.0 7870.9 9323.6 8797.4 8653.4 9131.0 9323.6 10014.6 1

 2 Holdings at market value 7822.6 5388.0 6920.7 7873.0 7870.9 9323.6 8797.4 8653.4 9131.0 9323.6 10014.6 2

 3 Household sector 4869.1 3313.9 4130.7 4617.8 4453.0 5372.4 5039.4 4893.1 5196.5 5372.4 5779.3 3

 4 Nonfinancial corporate business 178.0 106.3 162.0 186.8 165.9 181.7 179.1 173.2 179.6 181.7 188.7 4

 5 State and local governments 38.4 36.1 37.6 38.8 37.2 35.2 36.9 36.6 36.1 35.2 41.3 5

 6 Rest of the world 374.3 255.6 364.1 513.8 735.4 957.7 847.8 901.5 927.9 957.7 1028.7 6

 7 U.S.-chartered depository institutions 29.6 19.6 46.1 45.0 41.7 59.2 46.7 47.3 52.8 59.2 67.3 7

 8 Credit unions 2.1 2.0 1.3 1.5 1.9 2.3 2.1 2.1 2.2 2.3 2.5 8

 9 Property-casualty insurance companies 6.8 4.4 5.3 5.7 5.5 5.7 5.7 5.5 5.7 5.7 6.0 9

 10 Life insurance companies 188.4 121.0 140.8 155.7 150.1 159.3 159.1 153.2 159.3 159.3 167.6 10

 11 Private pension funds 1830.7 1362.3 1827.5 2084.7 2072.4 2306.6 2245.1 2212.1 2328.4 2306.6 2461.3 11

 12 State and local govt. retirement funds 305.2 166.7 205.2 223.2 208.0 243.6 235.5 228.8 242.5 243.6 271.9 12

(1) Shares of open-end investment companies; excludes shares of money market mutual funds, exchange-traded funds, and funding vehicles for variable annuities.
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L.215 Depository Institution Loans Not Elsewhere Classified (1)

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

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Total liabilities 2060.1 2750.0 2021.7 1954.3 2086.8 2250.6 2101.9 2150.1 2178.0 2250.6 2257.7 1

 2 Household sector 21.8 26.4 10.2 61.0 12.4 66.3 34.8 88.0 23.1 66.3 66.9 2

 3 Corporate business 715.9 780.0 546.0 480.9 549.8 609.8 542.4 566.2 574.8 609.8 606.2 3

 4 Noncorporate business 926.5 1046.1 944.1 923.7 980.4 1070.3 1008.6 1031.5 1047.7 1070.3 1075.5 4

 5 Rest of the world 102.8 107.9 96.8 115.1 144.3 165.5 153.6 164.8 167.0 165.5 176.8 5

 6 Foreign official institutions 1.9 2.6 3.2 4.3 2.6 2.0 2.5 2.2 2.1 2.0 2.6 6

 7 Foreign banks 30.2 33.0 27.9 39.7 51.0 49.2 51.6 54.4 50.8 49.2 55.5 7

 8 Other foreign 70.8 72.4 65.8 71.2 90.7 114.4 99.5 108.3 114.2 114.4 118.7 8

 9 Financial sectors 293.1 789.5 424.7 373.7 399.9 338.7 362.6 299.7 365.3 338.7 332.2 9

 10 Finance companies 182.0 174.9 144.5 91.5 102.1 118.5 97.5 103.5 115.8 118.5 112.9 10

 11 REITs 33.2 32.8 20.7 18.5 22.1 23.4 18.6 20.5 19.6 23.4 18.5 11

 12 Brokers and dealers 0.0 45.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Holding companies 77.9 91.3 164.2 190.3 254.3 196.8 234.5 175.7 229.8 196.8 200.9 13

 14 Funding corporations 0.0 444.9 95.3 73.4 21.5 0.0 11.9 0.0 0.0 0.0 0.0 14

 15 Total assets 2060.1 2750.0 2021.7 1954.3 2086.8 2250.6 2101.9 2150.1 2178.0 2250.6 2257.7 15

 16 Monetary authority (2) 0.0 490.4 142.8 98.1 30.5 0.6 19.0 4.5 1.5 0.6 0.4 16

 17 U.S.-chartered depository institutions 1544.6 1675.8 1419.6 1412.9 1569.2 1772.6 1596.2 1666.4 1698.4 1772.6 1775.9 17

 18 Foreign banking offices in U.S. 466.8 531.9 406.5 390.4 426.6 415.8 427.2 419.3 415.7 415.8 419.5 18

 19 Banks in U.S.-affiliated areas 21.4 19.7 19.4 16.1 17.1 18.1 17.2 17.3 17.6 18.1 18.1 19

 20 Credit unions 27.3 32.1 33.4 36.9 43.5 43.6 42.3 42.5 44.7 43.6 43.8 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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L.216 Other Loans and Advances

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

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Total other loans and advances 2510.6 2629.3 2098.1 1799.7 1803.9 1859.6 1769.6 1789.6 1831.9 1859.6 1870.0 1

 2 U.S. government loans 105.2 111.3 177.4 180.9 185.8 188.3 188.8 191.0 189.0 188.3 189.6 2

 3 Liab.: Household sector 12.5 12.8 12.6 11.6 11.2 11.0 10.9 11.0 11.0 11.0 11.2 3

 4 Nonfinancial corporate business 10.9 15.3 74.9 70.6 70.1 75.4 71.7 73.3 74.2 75.4 76.1 4

 5 Nonfinancial noncorporate business 46.8 48.9 52.4 53.0 55.9 56.5 55.9 56.5 56.6 56.5 57.0 5

 6 State and local governments 11.9 12.7 13.5 14.4 15.3 15.7 15.4 15.7 15.6 15.7 16.0 6

 7 Rest of the world 23.1 21.6 21.9 22.1 23.5 26.8 25.4 25.5 25.5 26.8 27.1 7

 8 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 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 0.0 9

 10 Funding corporations 0.0 0.0 2.0 9.2 9.8 3.0 9.5 8.9 6.1 3.0 2.3 10

 11 Foreign loans to U.S. corporate business 271.1 226.4 182.5 162.3 196.1 146.9 171.6 166.0 161.1 146.9 145.2 11

 12 Liab.: Nonfinancial corporate business 271.1 226.4 182.5 162.3 196.1 146.9 171.6 166.0 161.1 146.9 145.2 12

 Customers’ liability on acceptances outstanding

 13 Asset: 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 0.0 13

 14 Foreign banking offices in U.S. 0.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Liab.: Nonfinancial corporate business 0.2 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 0.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Holding company loans 6.3 8.2 14.6 18.9 22.9 105.3 53.1 53.2 107.8 105.3 106.0 17

 18 Liab.: Nonfinancial corporate business 6.3 8.2 14.6 18.9 22.9 99.3 51.8 51.0 103.2 99.3 101.4 18

 19 Rest of the world 0.0 0.0 0.0 0.0 0.0 6.1 1.3 2.3 4.7 6.1 4.6 19

 20 Policy loans (Household liability) 114.5 120.4 121.1 124.5 126.9 128.3 126.9 126.6 127.2 128.3 128.2 20

 21 Asset: Federal government 0.6 0.6 0.5 0.5 0.5 0.4 0.4 0.4 0.4 0.4 0.4 21

 22 Life insurance companies 113.9 119.8 120.6 124.0 126.5 127.8 126.4 126.2 126.8 127.8 127.8 22

 23 Government-sponsored enterprise loans (1) 942.6 980.7 695.9 551.3 487.0 505.7 467.3 491.3 487.6 505.7 498.8 23

 24 Liab.: Household sector (SLMA) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 Nonfinancial corporate business (FCS) 9.5 5.8 5.3 6.9 6.0 6.9 7.3 6.6 6.7 6.9 7.7 25

 26 Nonfinancial noncorporate business (FCS) 66.0 74.5 74.7 80.3 77.7 85.2 79.3 80.4 82.5 85.2 83.7 26

 27 U.S.-chartered dep. inst. (FHLB & SLMA) 806.1 805.0 541.1 392.8 332.3 336.9 309.3 328.2 321.6 336.9 332.3 27

 28 Credit unions (FHLB) 32.3 40.6 26.5 26.1 24.2 25.1 22.9 23.7 24.4 25.1 22.2 28

 29 Life insurance companies (FHLB) 28.7 54.9 48.3 45.1 46.8 51.6 48.5 52.4 52.4 51.6 52.9 29

 30 Securitized loans held by ABS issuers 93.7 78.1 54.4 4.0 0.1 1.8 0.1 0.1 3.2 1.8 3.9 30

 31 Liab.: Nonfinancial corporate business 93.7 78.1 54.4 4.0 0.1 1.8 0.1 0.1 3.2 1.8 3.9 31

 32 Finance company loans to business 523.0 539.9 448.9 407.7 410.0 421.8 410.2 410.4 412.6 421.8 426.7 32

 33 Liab.: Nonfinancial corporate business 470.7 485.9 404.0 366.9 369.0 379.6 369.2 369.3 371.3 379.6 384.1 33

 34 Nonfinancial noncorporate business 52.3 54.0 44.9 40.8 41.0 42.2 41.0 41.0 41.3 42.2 42.7 34

 35 Loans to nonfinancial corporate business (2) 453.8 564.3 403.4 350.2 375.1 361.5 351.6 351.1 343.4 361.5 371.5 35

 36 Asset: Household sector 17.6 29.7 26.8 26.2 23.4 20.9 26.5 23.2 23.1 20.9 19.9 36

 37 Life insurance companies 31.9 46.3 20.4 16.7 22.2 22.6 20.2 21.5 22.0 22.6 23.1 37

 38 Mutual funds 82.4 94.8 75.4 74.6 93.5 105.7 94.2 99.2 100.6 105.7 108.2 38

 39 ABS issuers 248.3 301.7 197.8 163.8 162.3 160.0 166.8 161.9 153.9 160.0 163.0 39

 40 Brokers and dealers 52.8 55.9 60.1 47.4 54.3 39.6 30.6 32.8 31.9 39.6 41.8 40

 41 Funding corporations 20.8 35.9 22.9 21.4 19.4 12.9 13.2 12.4 11.9 12.9 15.6 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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L.217 Total Mortgages

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

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Total mortgages 14588.5 14656.5 14359.3 13738.9 13413.3 13154.5 13303.7 13237.2 13142.2 13154.5 13091.4 1

 2 Home 11207.4 11096.7 10893.2 10426.3 10171.0 9925.0 10084.8 10026.2 9936.7 9925.0 9868.0 2

 3 Multifamily residential 792.7 841.2 847.8 838.0 842.8 858.9 832.6 838.7 847.2 858.9 863.3 3

 4 Commercial 2475.7 2583.8 2486.9 2333.3 2253.3 2217.6 2238.5 2222.7 2207.1 2217.6 2205.4 4

 5 Farm 112.7 134.7 131.3 141.2 146.1 153.0 147.8 149.5 151.3 153.0 154.7 5

 6 Total liabilities 14588.5 14656.5 14359.3 13738.9 13413.3 13154.5 13303.7 13237.2 13142.2 13154.5 13091.4 6

 7 Household sector 10784.1 10724.0 10567.6 10077.3 9842.1 9604.6 9758.8 9701.4 9613.5 9604.6 9550.3 7

 8 Nonfinancial business 3647.7 3769.0 3624.8 3494.4 3395.0 3358.2 3366.2 3350.8 3340.7 3358.2 3343.6 8

 9 Corporate 964.7 899.0 767.6 652.2 597.7 588.7 590.5 583.9 581.7 588.7 574.7 9

 10 Noncorporate 2683.0 2869.9 2857.2 2842.2 2797.3 2769.4 2775.7 2766.9 2759.0 2769.4 2769.0 10

 11 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 REITs 156.7 163.5 166.9 167.1 176.2 191.8 178.8 185.0 188.0 191.8 197.4 12

 13 Total assets 14588.5 14656.5 14359.3 13738.9 13413.3 13154.5 13303.7 13237.2 13142.2 13154.5 13091.4 13

 14 Household sector 109.8 111.1 101.4 90.2 79.5 66.1 75.9 72.4 69.4 66.1 63.0 14

 15 Nonfinancial corporate business 41.4 33.6 29.5 28.0 28.2 28.4 28.2 28.3 28.3 28.4 28.4 15

 16 Nonfinancial noncorporate business 42.1 39.1 37.9 42.1 42.5 43.1 42.6 42.7 42.8 43.1 43.2 16

 17 State and local governments 181.2 167.9 172.4 168.2 161.4 154.2 160.1 158.6 157.5 154.2 155.6 17

 18 Federal government 82.4 95.8 108.4 106.6 110.6 112.3 111.7 112.2 112.0 112.3 113.2 18

 19 U.S.-chartered depository institutions 4658.6 4615.2 4371.9 4194.9 4049.6 3997.4 3984.5 3986.4 3944.6 3997.4 3962.9 19

 20 Foreign banking offices in U.S. 39.0 44.2 37.8 35.4 32.8 30.9 31.2 31.2 31.2 30.9 29.7 20

 21 Banks in U.S.-affiliated areas 40.8 42.6 42.3 35.8 33.4 34.9 32.9 32.4 32.0 34.9 34.3 21

 22 Credit unions 280.2 312.2 316.9 317.0 320.5 327.8 321.6 324.0 326.4 327.8 325.9 22

 23 Property-casualty insurance companies 4.8 5.0 4.4 4.1 4.9 5.6 5.2 5.4 5.5 5.6 5.8 23

 24 Life insurance companies 326.2 342.4 326.1 317.5 332.5 344.4 336.7 340.5 343.5 344.4 344.5 24

 25 Private pension funds 34.1 26.1 23.8 26.6 27.5 21.4 25.1 24.1 22.8 21.4 18.6 25

 26 State and local govt. retirement funds 17.9 15.1 11.4 10.9 10.7 8.7 10.1 9.6 9.2 8.7 7.8 26

 27 Government-sponsored enterprises (1) 643.1 705.3 707.7 5021.0 4924.0 4823.5 4922.8 4870.2 4844.5 4823.5 4825.0 27

 28 Agency- and GSE-backed mortgage pools 4464.4 4961.4 5376.7 1139.5 1304.8 1437.0 1329.9 1377.3 1408.0 1437.0 1462.7 28

 29 ABS issuers 2967.6 2615.2 2245.0 1915.7 1696.8 1490.5 1637.6 1585.5 1530.6 1490.5 1448.1 29

 30 Finance companies 531.9 447.9 397.4 243.6 211.5 180.1 206.7 192.7 188.5 180.1 174.6 30

 31 REITs 123.1 76.3 48.3 41.9 42.1 48.3 40.9 43.6 45.4 48.3 48.1 31
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L.218 Home Mortgages (1)

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

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Total liabilities 11207.4 11096.7 10893.2 10426.3 10171.0 9925.0 10084.8 10026.2 9936.7 9925.0 9868.0 1

 2 Household sector 10580.1 10523.1 10373.5 9895.2 9666.1 9432.0 9584.5 9528.3 9442.1 9432.0 9378.8 2

 3 Nonfinancial corporate business 42.2 32.7 20.3 13.6 10.2 9.7 9.9 9.9 9.9 9.7 9.4 3

 4 Nonfinancial noncorporate business 585.1 540.9 499.4 517.6 494.7 483.3 490.3 488.0 484.6 483.3 479.8 4

 5 Total assets 11207.4 11096.7 10893.2 10426.3 10171.0 9925.0 10084.8 10026.2 9936.7 9925.0 9868.0 5

 6 Household sector 90.8 91.2 83.2 75.2 67.2 59.2 65.2 63.2 61.2 59.2 57.2 6

 7 Nonfinancial corporate business 25.0 20.2 17.7 16.8 16.9 17.0 16.9 17.0 17.0 17.0 17.0 7

 8 Nonfinancial noncorporate business 15.4 14.3 13.9 15.4 15.5 15.7 15.6 15.6 15.6 15.7 15.8 8

 9 State and local governments 92.8 86.1 88.4 85.7 82.1 78.6 81.4 80.7 80.2 78.6 79.4 9

 10 Federal government 13.7 16.4 22.1 23.9 24.8 25.9 25.5 25.7 25.3 25.9 25.7 10

 11 U.S.-chartered depository institutions 3068.0 2883.6 2686.6 2612.0 2534.9 2487.9 2481.8 2490.6 2454.2 2487.9 2451.3 11

 12 Foreign banking offices in U.S. 0.0 7.0 0.9 1.1 1.3 1.8 1.4 1.3 1.6 1.8 1.8 12

 13 Banks in U.S.-affiliated areas 21.5 22.9 22.6 20.1 17.8 20.0 17.5 17.3 17.0 20.0 19.9 13

 14 Credit unions 280.2 312.2 316.9 317.0 320.5 327.8 321.6 324.0 326.4 327.8 325.9 14

 15 Life insurance companies 9.4 8.6 8.4 8.1 8.5 8.6 8.9 9.3 9.7 8.6 8.6 15

 16 Private pension funds 1.2 1.3 2.0 1.9 1.6 2.5 1.7 1.9 2.2 2.5 2.9 16

 17 State and local govt. retirement funds 6.4 5.4 4.1 3.9 3.9 3.1 3.6 3.5 3.3 3.1 2.8 17

 18 Government-sponsored enterprises 447.9 456.6 445.3 4699.3 4595.8 4485.4 4591.6 4539.0 4508.3 4485.4 4489.6 18

 19 Agency- and GSE-backed mortgage pools 4371.8 4864.0 5266.5 1068.8 1216.8 1321.8 1237.2 1276.2 1301.7 1321.8 1340.2 19

 20 ABS issuers 2210.0 1897.2 1574.3 1298.7 1105.6 923.4 1060.1 1012.3 965.9 923.4 885.8 20

 21 Finance companies 472.7 375.4 327.7 169.5 149.7 132.6 146.1 137.2 134.9 132.6 129.1 21

 22 REITs 80.7 34.3 12.6 8.9 8.1 13.6 8.6 11.7 12.3 13.6 14.8 22

 Memo:

 23 Home equity loans included above (2) 1132.8 1115.6 1033.1 928.4 853.4 769.4 831.4 812.3 790.2 769.4 747.9 23

 24 U.S.-chartered depository institutions 872.7 894.7 841.4 783.3 723.1 652.7 705.1 690.2 670.7 652.7 634.2 24

 25 Foreign banking offices in U.S. 0.0 0.8 0.3 0.3 0.3 0.2 0.3 0.2 0.2 0.2 0.3 25

 26 Credit unions 94.1 98.7 94.6 88.2 82.2 75.7 79.8 78.3 77.2 75.7 74.1 26

 27 ABS issuers 71.4 46.3 31.3 22.7 17.9 14.3 17.0 16.1 15.1 14.3 13.5 27

 28 Finance companies 94.5 75.1 65.5 33.9 29.9 26.5 29.2 27.4 27.0 26.5 25.8 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; amounts outstanding end of period, not seasonally adjusted

 1 Total liabilities 792.7 841.2 847.8 838.0 842.8 858.9 832.6 838.7 847.2 858.9 863.3 1

 2 Nonfinancial corporate business 38.5 40.8 41.0 40.5 40.8 41.6 40.3 40.6 41.0 41.6 41.6 2

 3 Nonfinancial noncorporate business 731.5 775.4 779.9 769.8 774.5 790.8 765.3 771.6 779.8 790.8 790.7 3

 4 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 REITs 22.7 25.1 26.8 27.7 27.6 26.5 27.0 26.5 26.3 26.5 31.0 5

 6 Total assets 792.7 841.2 847.8 838.0 842.8 858.9 832.6 838.7 847.2 858.9 863.3 6

 7 Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Nonfinancial corporate business 0.6 0.5 0.5 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 8

 9 Nonfinancial noncorporate business 14.3 13.3 12.9 14.3 14.5 14.7 14.5 14.5 14.6 14.7 14.7 9

 10 State and local governments 72.8 67.5 69.4 67.7 65.1 62.2 64.6 64.0 63.6 62.2 62.8 10

 11 Federal government 14.4 14.5 14.7 14.4 14.1 13.7 14.1 13.9 13.7 13.7 13.6 11

 12 U.S.-chartered depository institutions 261.1 276.0 267.0 254.9 248.3 253.3 244.7 246.4 248.2 253.3 256.5 12

 13 Foreign banking offices in U.S. 0.0 4.3 4.0 3.5 2.9 1.4 1.5 1.4 1.4 1.4 1.3 13

 14 Life insurance companies 51.8 51.8 48.5 47.2 49.4 50.9 50.0 50.6 51.0 50.9 51.1 14

 15 Private pension funds 2.1 2.4 2.7 3.1 2.9 3.8 2.9 3.1 3.4 3.8 4.2 15

 16 State and local govt. retirement funds 5.4 4.5 3.4 3.3 3.2 2.6 3.0 2.9 2.7 2.6 2.3 16

 17 Government-sponsored enterprises 147.7 190.2 204.4 256.5 259.2 265.5 261.3 260.4 264.6 265.5 261.9 17

 18 Agency- and GSE-backed mortgage pools 88.1 92.8 105.7 66.9 86.4 113.4 91.1 99.1 104.3 113.4 120.6 18

 19 ABS issuers 124.0 113.2 107.4 98.7 91.1 72.4 79.2 76.9 74.5 72.4 68.9 19

 20 Finance companies 5.1 5.8 5.1 5.1 3.6 2.8 3.5 3.3 3.1 2.8 2.7 20

 21 REITs 5.2 4.3 2.3 1.9 1.7 1.8 1.7 1.7 1.7 1.8 2.1 21
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L.220 Commercial Mortgages

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

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Total liabilities 2475.7 2583.8 2486.9 2333.3 2253.3 2217.6 2238.5 2222.7 2207.1 2217.6 2205.4 1

 2 Household sector 204.0 200.9 194.1 182.2 175.9 172.5 174.3 173.1 171.4 172.5 171.5 2

 3 Nonfinancial corporate business 861.2 796.7 676.7 565.0 511.2 498.7 504.0 496.3 492.8 498.7 484.1 3

 4 Nonfinancial noncorporate business 1276.6 1447.7 1476.1 1446.7 1417.6 1381.1 1408.5 1394.8 1381.1 1381.1 1383.4 4

 5 REITs 134.0 138.4 140.1 139.4 148.6 165.3 151.8 158.5 161.8 165.3 166.4 5

 6 Total assets 2475.7 2583.8 2486.9 2333.3 2253.3 2217.6 2238.5 2222.7 2207.1 2217.6 2205.4 6

 7 Household sector 19.1 20.0 19.2 16.7 12.4 6.3 11.0 9.6 8.0 6.3 4.5 7

 8 Nonfinancial corporate business 15.8 13.0 11.4 10.8 10.8 10.9 10.9 10.9 10.9 10.9 10.9 8

 9 Nonfinancial noncorporate business 11.5 10.7 10.4 11.5 11.7 11.8 11.7 11.7 11.7 11.8 11.8 9

 10 State and local governments 14.6 13.5 13.9 14.1 13.4 12.7 13.3 13.2 13.1 12.7 12.7 10

 11 Federal government 51.0 61.4 67.8 64.1 67.2 68.0 67.6 68.0 68.4 68.0 69.3 11

 12 U.S.-chartered depository institutions 1286.8 1404.2 1367.4 1273.2 1210.3 1198.4 1201.1 1192.2 1184.8 1198.4 1197.0 12

 13 Foreign banking offices in U.S. 39.0 32.8 32.9 30.8 28.5 27.6 28.2 28.4 28.1 27.6 26.6 13

 14 Banks in U.S.-affiliated areas 19.3 19.7 19.6 15.7 15.6 14.9 15.4 15.1 14.9 14.9 14.4 14

 15 Property-casualty insurance companies 4.8 5.0 4.4 4.1 4.9 5.6 5.2 5.4 5.5 5.6 5.8 15

 16 Life insurance companies 252.2 267.1 255.7 248.8 261.1 271.1 264.2 267.0 269.1 271.1 271.0 16

 17 Private pension funds 30.8 22.4 19.0 21.5 23.1 15.1 20.6 19.1 17.3 15.1 11.5 17

 18 State and local govt. retirement funds 6.1 5.1 3.9 3.7 3.6 3.0 3.4 3.3 3.1 3.0 2.7 18

 19 Agency- and GSE-backed mortgage pools 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 ABS issuers 633.6 604.7 563.3 518.3 500.2 494.7 498.3 496.4 490.2 494.7 493.3 20

 21 Finance companies 54.0 66.6 64.6 68.9 58.2 44.7 57.1 52.2 50.6 44.7 42.7 21

 22 REITs 37.3 37.7 33.4 31.2 32.3 32.8 30.6 30.2 31.4 32.8 31.1 22

L.221 Farm Mortgages (1)

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

 1 Total liabilities 112.7 134.7 131.3 141.2 146.1 153.0 147.8 149.5 151.3 153.0 154.7 1

 2 Nonfinancial corporate business 22.8 28.8 29.6 33.1 35.5 38.7 36.3 37.1 37.9 38.7 39.5 2

 3 Nonfinancial noncorporate business 89.9 105.9 101.7 108.1 110.6 114.3 111.5 112.5 113.4 114.3 115.2 3

 4 Total assets 112.7 134.7 131.3 141.2 146.1 153.0 147.8 149.5 151.3 153.0 154.7 4

 5 Household sector -0.0 -0.0 -1.0 -1.7 -0.1 0.6 -0.3 -0.3 0.2 0.6 1.4 5

 6 Nonfinancial noncorporate business 0.8 0.8 0.8 0.8 0.8 0.9 0.9 0.9 0.9 0.9 0.9 6

 7 State and local governments 1.0 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.7 7

 8 Federal government 3.3 3.5 3.9 4.3 4.5 4.6 4.6 4.6 4.6 4.6 4.5 8

 9 U.S.-chartered depository institutions 42.8 51.5 51.0 54.8 56.0 57.8 56.9 57.2 57.5 57.8 58.1 9

 10 Foreign banking offices in U.S. 0.0 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Life insurance companies 12.8 15.0 13.5 13.3 13.5 13.8 13.6 13.7 13.7 13.8 13.9 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 0.0 12

 13 Government-sponsored enterprises 47.6 58.5 58.0 65.2 69.0 72.7 69.8 70.8 71.6 72.7 73.5 13

 14 Agency- and GSE-backed mortgage pools 4.5 4.7 4.5 3.8 1.7 1.9 1.6 2.0 2.0 1.9 1.9 14

(1) Excludes mortgages on farm houses.
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L.222 Consumer Credit

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

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Total liabilities (Households) 2506.3 2525.9 2420.2 2522.2 2615.7 2768.2 2605.9 2646.6 2705.5 2768.2 2762.4 1

 2 Total assets 2506.3 2525.9 2420.2 2522.2 2615.7 2768.2 2605.9 2646.6 2705.5 2768.2 2762.4 2

 3 Nonfinancial corporate business 57.2 56.0 53.8 46.2 48.5 48.5 47.2 47.3 47.8 48.5 42.0 3

 4 Nonfinancial noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Federal government (1) 93.0 104.3 178.6 308.8 417.4 526.8 452.6 470.7 509.5 526.8 560.8 5

 6 U.S.-chartered depository institutions 894.9 965.0 906.3 1185.5 1192.6 1218.6 1155.7 1174.5 1186.1 1218.6 1189.1 6

 7 Credit unions 236.6 236.2 237.1 226.5 223.0 243.6 223.0 231.2 236.7 243.6 247.6 7

 8 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 ABS issuers 652.5 610.2 572.5 50.3 46.2 49.9 46.7 47.0 47.9 49.9 50.4 9

 10 Finance companies 572.1 554.3 471.9 705.0 688.0 680.8 680.7 676.0 677.5 680.8 672.5 10

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

 the government purchased from depository institutions and finance companies.

L.223 Trade Credit

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

 1 Total trade payables 3398.0 3228.0 3204.9 3430.3 3478.9 3665.7 3532.1 3592.9 3636.9 3665.7 3689.6 1

 2 Household sector 214.5 236.7 252.7 274.1 288.2 289.7 289.8 290.5 290.5 289.7 288.1 2

 3 Nonfinancial corporate business 1897.9 1672.7 1587.5 1743.2 1760.7 1885.6 1785.1 1834.8 1866.3 1885.6 1891.6 3

 4 Nonfinancial noncorporate business 374.9 380.7 388.3 416.8 420.7 425.1 421.0 421.4 422.1 425.1 430.5 4

 5 State and local governments 553.5 592.7 632.3 672.3 712.5 752.9 722.6 732.7 742.8 752.9 763.0 5

 6 Federal government 238.2 260.8 204.6 210.8 219.6 228.9 229.4 232.1 234.8 228.9 233.6 6

 7 Rest of the world 73.1 63.2 69.3 95.1 63.0 69.3 66.9 68.0 67.4 69.3 67.5 7

 8 Brokers and dealers 45.8 21.2 70.1 18.1 14.3 14.2 17.3 13.5 13.0 14.2 15.3 8

 9 Total trade receivables 3191.2 2992.2 2863.8 2993.8 3092.8 3221.4 3212.4 3290.5 3315.2 3221.4 3280.2 9

 10 Nonfinancial corporate business 2254.4 2084.9 2053.9 2155.9 2238.0 2347.9 2349.8 2425.3 2440.3 2347.9 2403.3 10

 11 Nonfinancial noncorporate business 525.6 522.7 496.3 533.4 538.8 545.6 539.7 540.9 541.7 545.6 546.8 11

 12 State and local governments 69.9 47.6 29.0 9.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Federal government 60.6 64.7 43.6 42.9 47.7 50.1 49.0 50.6 51.5 50.1 49.6 13

 14 Rest of the world 83.6 90.1 96.7 116.3 133.5 144.7 137.4 139.3 145.9 144.7 146.9 14

 15 Property-casualty insurance companies 85.4 86.7 83.0 83.8 87.2 92.0 91.1 92.0 94.5 92.0 93.5 15

 16 ABS issuers 111.7 95.5 61.3 51.8 47.6 41.2 45.3 42.4 41.4 41.2 40.1 16

 17 Discrepancy 206.8 235.7 341.1 436.6 386.1 444.3 319.7 302.4 321.6 444.3 409.5 17

L.224 Security Credit

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

 1 Total liabilities 1526.4 1128.5 1091.2 1214.8 1312.6 1512.5 1375.5 1410.2 1482.4 1512.5 1484.5 1

 2 Household sector 325.5 164.8 203.0 278.2 238.9 303.7 267.7 244.5 269.1 303.7 306.2 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 0.0 3

 4 Brokers and dealers 1200.9 963.6 888.2 936.6 1073.7 1208.7 1107.8 1165.7 1213.2 1208.7 1178.2 4

 5 Customer credit balances (HH) 866.4 742.7 668.6 694.3 752.4 776.0 762.3 777.7 780.2 776.0 776.6 5

 6 From U.S.-chartered depository institutions 145.9 158.6 158.0 152.3 189.6 243.0 190.8 209.8 241.8 243.0 209.0 6

 7 From foreign banking offices in U.S. 188.6 62.3 61.6 90.1 131.7 189.7 154.7 178.3 191.3 189.7 192.6 7

 8 Total assets 1526.4 1128.5 1091.2 1214.8 1312.6 1512.5 1375.5 1410.2 1482.4 1512.5 1484.5 8

 9 Household sector 866.4 742.7 668.6 694.3 752.4 776.0 762.3 777.7 780.2 776.0 776.6 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 0.0 10

 11 U.S.-chartered depository institutions 145.9 158.6 158.0 152.3 189.6 243.0 190.8 209.8 241.8 243.0 209.0 11

 12 Foreign banking offices in U.S. 188.6 62.3 61.6 90.1 131.7 189.7 154.7 178.3 191.3 189.7 192.6 12

 13 Brokers and dealers 325.5 164.8 203.0 278.2 238.9 303.7 267.7 244.5 269.1 303.7 306.2 13
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L.225 Life Insurance and Pension Fund Reserves

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

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 Life insurance reserves:

 1 Total liabilities 1201.5 1179.8 1242.1 1278.3 1352.0 1359.0 1366.9 1342.3 1353.2 1359.0 1379.1 1

 2 Federal government 45.4 46.4 47.5 48.4 49.7 50.0 49.8 50.2 50.1 50.0 50.1 2

 3 Life insurance companies 1156.1 1133.4 1194.5 1229.9 1302.3 1309.0 1317.1 1292.1 1303.1 1309.0 1329.1 3

 4 Net change in assets 1201.5 1179.8 1242.1 1278.3 1352.0 1359.0 1366.9 1342.3 1353.2 1359.0 1379.1 4

 5 Households 1076.8 1049.8 1109.2 1137.2 1203.6 1186.1 1199.4 1172.6 1180.6 1186.1 1202.4 5

 6 U.S.-chartered depository institutions 104.3 110.7 111.5 116.0 120.8 138.1 133.8 135.0 136.4 138.1 139.4 6

 7 Holding companies 20.5 19.3 21.4 25.1 27.6 34.9 33.7 34.8 36.2 34.9 37.4 7

 Pension fund reserves:

 8 Total liabilities 13236.1 10567.7 11959.2 13209.9 13434.1 14444.1 14117.1 13943.1 14402.2 14444.1 15007.6 8

 9 Life insurance companies 2511.6 2223.2 2346.9 2563.0 2594.2 2830.9 2731.4 2681.9 2770.3 2830.9 2946.6 9

 10 Private pension funds (1) 6142.4 4603.4 5479.2 6179.7 6338.9 6672.5 6613.3 6543.5 6756.6 6672.5 6857.2 10

 11 State and local govt. retirement funds 3385.1 2518.8 2808.3 3041.8 2991.4 3358.4 3259.2 3200.7 3329.3 3358.4 3592.6 11

 12 Federal government retirement funds (2) 1197.0 1222.3 1324.7 1425.4 1509.6 1582.3 1513.3 1517.0 1546.1 1582.3 1611.2 12

 13 Total assets (Households) (3) 13236.1 10567.7 11959.2 13209.9 13434.1 14444.1 14117.1 13943.1 14402.2 14444.1 15007.6 13

(1) Includes unallocated insurance company contracts beginning 1985:Q4.

(2) Includes the Thrift Savings Plan, the National Railroad Retirement Investment Trust, and other federal government retirement funds.

(3) Excludes all individual retirement accounts (IRAs) (table L.225.i), except those at life insurance companies.

L.226 Taxes Payable by Businesses

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

 1 Total taxes payable by all businesses 167.7 44.0 40.6 54.3 75.0 81.2 85.5 83.1 93.0 81.2 109.5 1

 2 Nonfinancial corporate business 35.8 39.0 35.7 42.9 51.7 55.7 61.9 59.3 59.5 55.7 72.7 2

 3 Nonfinancial noncorporate business 99.5 106.2 99.9 99.2 100.3 101.7 100.5 100.7 100.9 101.7 101.9 3

 4 U.S.-chartered depository institutions 12.4 -73.6 -66.2 -59.6 -49.1 -47.9 -52.6 -50.3 -46.3 -47.9 -46.0 4

 5 Property-casualty insurance companies 7.0 -21.1 -15.8 -10.1 -14.5 -10.8 -8.0 -13.2 -8.7 -10.8 -3.2 5

 6 Life insurance companies -4.7 -24.4 -31.4 -28.8 -23.6 -28.3 -27.3 -23.9 -23.6 -28.3 -28.4 6

 7 Finance companies 15.5 15.4 12.7 7.2 7.8 7.7 8.1 7.7 7.5 7.7 8.1 7

 8 Brokers and dealers 2.2 2.5 5.7 3.6 2.5 3.1 3.0 2.8 3.7 3.1 4.4 8

 9 Total business taxes receivable 220.7 237.3 245.0 249.0 262.8 270.4 266.0 269.5 269.1 270.4 275.4 9

 10 State and local governments 115.7 117.9 111.1 104.7 110.0 112.3 111.9 114.1 112.3 112.3 116.0 10

 11 Federal government 105.0 119.4 133.9 144.3 152.8 158.1 154.2 155.5 156.8 158.1 159.5 11

 12 Discrepancy -52.9 -193.3 -204.4 -194.7 -187.8 -189.2 -180.5 -186.4 -176.1 -189.2 -165.9 12

L.227 Proprietors’ Equity in Noncorporate Business

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

 1 Total household equity 9329.1 7730.8 6459.8 7120.5 7673.2 8141.4 7713.7 7784.0 8016.5 8141.4 8194.6 1

 2 Nonfinancial noncorporate business 9317.5 7721.3 6447.7 7106.7 7660.4 8123.2 7695.8 7766.1 7997.9 8123.2 8177.9 2

 3 Brokers and dealers 11.6 9.5 12.1 13.8 12.8 18.2 17.8 17.9 18.6 18.2 16.7 3
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L.228 Total Miscellaneous Financial Claims

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

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Total liabilities 17197.7 19811.0 19778.8 20240.8 20606.5 21130.8 20863.1 20754.1 21050.0 21130.8 20714.5 1

 2 Household sector 23.9 27.0 22.1 24.7 24.3 24.9 26.2 28.0 28.4 24.9 25.9 2

 3 Nonfinancial corporate business 3783.7 3949.2 3945.7 3949.5 3608.2 3322.2 3528.5 3446.0 3395.0 3322.2 3249.8 3

 4 Nonfinancial noncorporate business 1100.0 1214.3 1248.1 1197.6 1230.6 1237.0 1240.1 1241.4 1242.4 1237.0 1248.5 4

 5 Federal government 1094.2 1183.5 1261.6 1349.4 1438.3 1491.6 1420.6 1429.6 1447.6 1491.6 1501.8 5

 6 Rest of the world 5104.6 6059.0 5959.1 6498.9 6777.2 6920.9 6809.6 6748.9 6889.7 6920.9 6510.6 6

 7 Monetary authority 21.0 23.1 29.2 58.4 31.7 33.7 33.7 28.5 34.9 33.7 34.7 7

 8 U.S.-chartered depository institutions 1278.0 1466.4 1619.9 1805.9 1934.7 2102.3 2023.4 2073.4 2144.3 2102.3 2137.4 8

 9 Foreign banking offices in U.S. 299.6 849.4 431.3 438.7 694.2 651.5 629.8 649.4 654.3 651.5 644.5 9

 10 Banks in U.S.-affiliated areas 28.8 24.9 29.2 23.3 19.4 17.3 19.1 17.9 19.2 17.3 16.5 10

 11 Credit unions 3.6 4.7 19.4 11.1 12.4 12.7 13.3 13.1 14.4 12.7 16.4 11

 12 Property-casualty insurance companies 811.1 811.0 819.5 831.8 869.4 900.2 889.5 894.8 890.0 900.2 885.8 12

 13 Life insurance companies 949.8 866.4 961.7 1031.4 1071.2 1072.1 1076.1 1070.9 1084.1 1072.1 1048.5 13

 14 Government-sponsored enterprises 171.1 208.2 270.4 154.6 130.6 124.1 132.8 130.5 127.5 124.1 120.2 14

 15 Finance companies 654.4 664.8 573.6 301.7 292.1 258.7 285.4 261.7 250.0 258.7 258.5 15

 16 REITs 67.6 64.9 51.1 66.0 74.4 91.4 90.0 80.1 102.6 91.4 87.1 16

 17 Brokers and dealers 558.4 441.4 450.0 483.1 473.3 472.9 500.2 463.6 473.0 472.9 488.2 17

 18 Holding companies 328.3 422.9 548.0 522.0 481.1 833.8 732.6 733.5 787.4 833.8 899.1 18

 19 Funding corporations 919.7 1529.7 1539.0 1492.8 1443.4 1563.5 1412.4 1442.9 1465.2 1563.5 1540.9 19

 20 Total assets 25683.2 25881.3 26187.1 27057.4 28417.1 30059.7 29024.7 29270.9 29650.9 30059.7 29393.7 20

 21 Household sector 712.2 766.3 787.1 830.5 877.2 888.7 872.2 870.9 873.4 888.7 879.8 21

 22 Nonfinancial corporate business 9890.0 9377.7 9560.2 10117.3 10565.2 11290.0 10655.9 10768.1 10962.6 11290.0 11444.3 22

 23 Nonfinancial noncorporate business 2014.3 2121.8 2040.0 2115.3 2139.2 2166.9 2143.3 2148.0 2151.5 2166.9 2171.7 23

 24 State and local governments 122.6 215.1 252.7 231.1 173.5 115.4 161.5 163.9 145.5 115.4 101.9 24

 25 Federal government 138.7 110.8 145.8 141.4 143.1 142.3 140.5 141.9 141.9 142.3 142.7 25

 26 Rest of the world 4536.5 4263.3 4197.4 4503.1 4819.8 5149.1 4961.2 5036.0 5097.5 5149.1 4301.5 26

 27 Monetary authority 40.5 569.8 75.9 83.1 225.8 199.5 188.1 187.2 186.5 199.5 219.9 27

 28 U.S.-chartered depository institutions 901.0 1223.5 1030.1 933.1 958.0 842.0 878.7 904.4 902.1 842.0 788.7 28

 29 Foreign banking offices in U.S. -104.9 259.7 143.9 148.7 371.4 354.4 300.2 350.2 338.0 354.4 338.4 29

 30 Banks in U.S.-affiliated areas 12.1 11.1 6.5 11.0 11.8 12.0 11.8 15.8 13.2 12.0 11.8 30

 31 Credit unions 36.0 32.8 33.0 74.1 61.9 62.7 70.2 64.1 63.6 62.7 69.6 31

 32 Property-casualty insurance companies 121.1 102.6 120.6 112.3 105.9 102.4 102.3 104.8 104.6 102.4 100.3 32

 33 Life insurance companies 342.9 380.1 357.6 360.3 409.3 453.5 396.3 407.4 421.2 453.5 426.7 33

 34 Private pension funds 1103.0 840.3 978.9 1016.9 1111.1 1044.3 1064.4 1070.6 1067.9 1044.3 1001.4 34

 35 State and local govt. retirement funds 113.0 94.6 86.1 102.2 110.6 110.2 109.0 109.2 110.0 110.2 105.7 35

 36 Federal government retirement funds 952.0 1015.3 1077.2 1142.9 1213.7 1254.1 1197.2 1203.5 1223.3 1254.1 1265.5 36

 37 Money market mutual funds 69.0 35.2 26.9 23.5 22.7 28.8 17.8 19.9 25.1 28.8 31.5 37

 38 Mutual funds 16.8 20.0 14.9 2.9 5.7 -27.4 -34.5 -50.0 -45.3 -27.4 -27.4 38

 39 Government-sponsored enterprises 141.7 99.1 100.3 148.6 148.5 152.6 150.1 135.9 139.6 152.6 118.2 39

 40 Finance companies 30.1 51.5 77.8 83.0 89.7 61.0 87.0 74.8 68.0 61.0 50.5 40

 41 REITs 55.4 54.6 46.1 53.5 66.8 89.3 75.4 79.0 82.4 89.3 97.2 41

 42 Brokers and dealers 1633.7 1105.7 1141.0 1025.3 932.6 857.4 951.8 989.3 949.2 857.4 921.0 42

 43 Holding companies 2054.0 2337.0 3160.6 3129.4 3165.9 4015.8 3818.8 3795.6 3944.6 4015.8 4105.9 43

 44 Funding corporations 751.5 793.5 726.3 667.9 687.6 694.8 705.7 680.1 684.6 694.8 726.9 44

 45 Discrepancy -8485.5 -6070.2 -6408.3 -6816.6 -7810.5 -8928.9 -8161.7 -8516.8 -8600.9 -8928.9 -8679.1 45
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L.229 Identified Miscellaneous Financial Claims - Part I

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

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 U.S. direct investment abroad:

 1 Liab.: Rest of the world 3553.1 3748.5 4029.5 4306.8 4681.6 4944.4 4801.2 4826.0 4897.8 4944.4 5126.3 1

 2 Asset: Nonfinancial corporate business 2892.9 3011.1 3219.1 3434.7 3794.6 4046.5 3903.2 3919.8 3988.7 4046.5 4233.0 2

 3 U.S.-chartered depository institutions 150.3 201.5 257.6 273.9 270.9 258.9 274.7 277.4 274.4 258.9 256.4 3

 4 Property-casualty insurance companies 121.1 102.6 120.6 112.3 105.9 102.4 102.3 104.8 104.6 102.4 100.3 4

 5 Life insurance companies 25.6 25.0 28.1 44.6 54.8 64.7 55.4 55.9 56.4 64.7 65.1 5

 6 Finance companies 177.9 221.0 187.3 210.5 217.2 227.0 224.2 225.0 227.6 227.0 223.1 6

 7 Brokers and dealers 185.3 187.4 216.8 230.8 238.1 245.1 241.4 243.2 246.3 245.1 248.6 7

 Foreign direct investment in U.S.:

 8 Liab.: Nonfinancial corporate business 1961.9 2050.3 1986.4 2119.9 2361.1 2514.4 2389.1 2442.4 2483.0 2514.4 2580.2 8

 9 Nonfinancial noncorporate business 3.6 3.6 4.8 5.1 5.8 6.2 6.2 6.1 6.2 6.2 6.3 9

 10 Foreign banking offices in U.S. 94.2 71.7 107.7 114.8 153.1 162.3 146.6 149.9 152.2 162.3 167.7 10

 11 Property-casualty insurance companies 76.6 51.2 64.7 70.6 73.0 75.7 72.8 74.0 73.2 75.7 75.0 11

 12 Life insurance companies 68.7 60.3 69.4 84.2 89.2 74.1 87.6 89.2 90.3 74.1 75.3 12

 13 Finance companies 68.6 78.1 90.0 103.1 116.4 119.5 117.5 117.6 117.2 119.5 118.8 13

 14 Brokers and dealers 62.6 72.1 64.4 88.5 98.1 105.5 100.3 101.1 103.0 105.5 108.7 14

 15 Funding corporations 9.6 10.2 10.8 11.4 12.0 12.6 12.2 12.3 12.5 12.6 12.8 15

 16 Asset: Rest of the world 2345.9 2397.4 2398.2 2597.7 2908.8 3070.4 2932.2 2992.7 3037.5 3070.4 3144.8 16

 Federal government equity in IBRD, etc.:

 17 Liab.: Rest of the world 46.9 48.3 50.0 52.3 54.9 57.5 55.2 57.0 57.2 57.5 57.2 17

 18 Asset: Federal government 46.9 48.3 50.0 52.3 54.9 57.5 55.2 57.0 57.2 57.5 57.2 18

 Federal Reserve Bank stock:

 19 Liab.: Monetary authority 18.5 21.1 25.6 26.5 26.9 27.4 27.2 27.3 27.4 27.4 27.6 19

 20 Asset: U.S.-chartered depository institutions 18.5 21.1 25.6 26.5 26.9 27.4 27.2 27.3 27.4 27.4 27.6 20

 Equity in government-sponsored enterprises:

 21 Liab.: Government-sponsored enterprises 56.0 51.8 51.8 49.0 43.1 41.2 42.4 41.6 41.3 41.2 40.4 21

 22 Asset: Nonfin. corporate business (Fannie Mae and FCS) 0.7 0.4 0.5 0.6 0.5 0.6 0.7 0.6 0.6 0.6 0.7 22

 23 Nonfinancial noncorporate (FCS) 5.0 6.4 6.3 6.7 7.0 7.1 7.1 7.0 7.1 7.1 7.1 23

 24 Federal government 0.0 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) 45.5 39.0 39.7 36.7 30.6 28.4 29.8 29.0 28.5 28.4 27.6 25

 26 Credit unions (FHLB) 2.5 2.8 2.4 2.2 2.9 2.9 2.8 2.9 2.9 2.9 3.0 26

 27 Life insurance companies (FHLB) 2.2 3.2 2.9 2.9 2.1 2.2 2.1 2.1 2.1 2.2 2.1 27

 Holding company net transactions with subsidiaries:

 28 Liab.: U.S.-chartered depository institutions 1256.9 1370.5 1599.5 1632.8 1709.0 1889.2 1782.2 1825.7 1871.3 1889.2 1916.8 28

 29 Property-casualty insurance companies 0.0 0.0 0.0 0.0 0.0 22.4 27.1 29.7 25.3 22.4 16.7 29

 30 Life insurance companies 43.7 31.2 40.5 62.7 72.0 12.6 159.5 166.5 93.2 12.6 12.8 30

 31 Finance companies 239.9 232.6 209.3 116.3 95.7 95.2 91.8 88.3 87.9 95.2 93.7 31

 32 Brokers and dealers 57.0 155.2 596.1 625.2 612.5 1061.1 798.8 770.3 947.1 1061.1 1040.0 32

 33 Rest of the world 110.6 101.5 125.1 135.6 166.3 114.7 185.6 166.1 154.0 114.7 137.2 33

 34 Asset: Holding companies 1708.1 1891.0 2570.3 2572.7 2655.4 3195.1 3045.1 3046.6 3178.7 3195.1 3217.2 34

 NFC investment in finance company subsidiaries:

 35 Liab.: Finance companies 81.5 80.5 71.2 61.4 69.9 69.5 67.1 64.5 64.2 69.5 68.5 35

 36 Asset: Nonfinancial corporate business 81.5 80.5 71.2 61.4 69.9 69.5 67.1 64.5 64.2 69.5 68.5 36

 Funding corporations’ investment in subsidiaries:

 37 Liab.: Foreign banking offices in U.S. 241.0 276.6 203.1 171.6 137.8 126.0 154.3 128.5 117.9 126.0 142.9 37

 38 Brokers and dealers 510.5 516.9 523.2 496.4 549.7 568.8 551.4 551.6 566.7 568.8 584.0 38

 39 Asset: Funding corporations 751.5 793.5 726.3 667.9 687.6 694.8 705.7 680.1 684.6 694.8 726.9 39

 Equity investment under Public-Private Inv. Program:

 40 Liab.: Funding corporations 0.0 0.0 1.8 7.7 8.8 8.7 8.8 8.7 8.7 8.7 8.7 40

 41 Asset: Households (1) 0.0 0.0 0.9 3.8 4.4 4.4 4.4 4.4 4.4 4.4 4.4 41

 42 Federal government 0.0 0.0 0.9 3.8 4.4 4.4 4.4 4.4 4.4 4.4 4.4 42

(1) Funds invested by financial institutions such as domestic hedge funds through the Public-Private Investment Program (PPIP).
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L.230 Identified Miscellaneous Financial Claims - Part II

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

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 Nonofficial foreign currencies:

 1 Liab.: Rest of the world 24.5 554.2 10.9 0.8 100.5 9.5 47.2 28.7 13.3 9.5 8.7 1

 2 Asset: Federal government 0.5 0.5 0.7 0.8 0.7 0.7 0.7 0.7 0.7 0.7 0.7 2

 3 Monetary authority (1) 24.0 553.7 10.3 0.1 99.8 8.9 46.5 28.0 12.6 8.9 8.1 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 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 0.0 5

 Deposits at Federal Home Loan Banks:

 6 Liab.: Government-sponsored enterprises 20.9 15.5 15.9 14.4 12.6 13.7 16.8 13.0 12.5 13.7 13.4 6

 7 Asset: U.S.-chartered depository institutions 20.9 15.5 15.9 14.4 12.6 13.7 16.8 13.0 12.5 13.7 13.4 7

 Deferred and unpaid life insurance premiums:

 8 Liab.: Household sector 23.9 27.0 22.1 24.7 24.3 24.9 26.2 28.0 28.4 24.9 25.9 8

 9 Asset: Life insurance companies 23.9 27.0 22.1 24.7 24.3 24.9 26.2 28.0 28.4 24.9 25.9 9

 Life insurance company reserves:

 10 Liab.: Life insurance companies 247.6 265.2 273.6 288.4 302.8 300.3 302.6 298.6 303.2 300.3 297.0 10

 11 Accident and health 163.3 182.7 192.4 207.1 222.3 219.2 221.3 216.5 220.3 219.2 215.5 11

 12 Policy dividend accumulation 43.7 40.4 39.2 39.7 37.9 38.3 38.1 38.5 38.8 38.3 38.4 12

 13 Contract claims 40.6 42.1 42.0 41.6 42.6 42.8 43.2 43.7 44.1 42.8 43.1 13

 14 Asset: Household sector 247.6 265.2 273.6 288.4 302.8 300.3 302.6 298.6 303.2 300.3 297.0 14

 Policy payables:

 15 Liab.: Property-casualty insurance companies 734.5 759.9 754.8 761.2 796.4 802.1 789.6 791.1 791.5 802.1 794.2 15

 16 Asset: Household sector 327.3 337.3 332.2 335.4 348.6 349.2 345.0 344.8 344.4 349.2 344.8 16

 17 Nonfinancial corporate business 299.9 311.1 310.2 313.2 328.7 332.2 326.3 327.2 327.7 332.2 329.3 17

 18 Nonfinancial noncorporate business 107.3 111.5 112.4 112.6 119.0 120.7 118.4 119.1 119.4 120.7 120.1 18

 Unallocated insurance company contracts:

 19 Liab.: Life insurance companies 370.5 279.0 388.9 399.2 413.7 383.1 406.0 401.3 398.6 383.1 385.0 19

 20 Asset: Private pension funds 370.5 279.0 388.9 399.2 413.7 383.1 406.0 401.3 398.6 383.1 385.0 20

 Pension fund contributions payable:

 21 Liab.: Nonfinancial corporate business 109.5 84.0 75.6 91.1 90.1 85.8 86.9 87.7 87.4 85.8 79.8 21

 22 Asset: Private pension funds 109.5 84.0 75.6 91.1 90.1 85.8 86.9 87.7 87.4 85.8 79.8 22

 Securities borrowed (net):

 23 Liab.: Funding corporations 1240.2 887.0 856.8 733.4 658.7 579.5 651.5 706.5 656.9 579.5 626.8 23

 24 Asset: Brokers and dealers 1240.2 887.0 856.8 733.4 658.7 579.5 651.5 706.5 656.9 579.5 626.8 24

 Nonmarketable government securities:

 25 Liab.: Federal government 952.0 1015.3 1077.2 1142.9 1213.7 1254.1 1197.2 1203.5 1223.3 1254.1 1265.5 25

 26 Asset: Federal government retirement funds 952.0 1015.3 1077.2 1142.9 1213.7 1254.1 1197.2 1203.5 1223.3 1254.1 1265.5 26

 Retiree health care funds (2):

 27 Liab.: Federal government 137.3 163.8 180.4 202.9 221.4 234.8 220.3 223.1 221.5 234.8 233.6 27

 28 Asset: Household sector 137.3 163.8 180.4 202.9 221.4 234.8 220.3 223.1 221.5 234.8 233.6 28

(1) Reciprocal currency arrangements (swap lines) with foreign central banks.

(2) Includes Uniform Services Retiree Health Care Fund and Postal Service Retiree Health Benefits Fund.
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L.231 Unidentified Miscellaneous Financial Claims

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

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Total liabilities 4775.4 6728.0 6197.8 6239.8 5635.4 5333.9 5433.9 5227.9 5316.1 5333.9 4567.1 1

 2 Nonfinancial corporate business 1712.2 1814.9 1883.7 1738.5 1156.9 722.0 1052.5 915.9 824.7 722.0 589.8 2

 3 Nonfinancial noncorporate business 1096.4 1210.7 1243.3 1192.4 1224.8 1230.8 1233.9 1235.3 1236.2 1230.8 1242.2 3

 4 Federal government 4.9 4.3 4.0 3.6 3.2 2.8 3.1 3.0 2.9 2.8 2.6 4

 5 Rest of the world 1369.5 1606.4 1743.7 2003.3 1774.0 1794.7 1720.4 1671.1 1767.4 1794.7 1181.2 5

 6 Monetary authority 2.5 2.1 3.6 31.9 4.8 6.3 6.5 1.1 7.5 6.3 7.2 6

 7 U.S.-chartered depository institutions 21.1 95.9 20.4 173.1 225.7 213.1 241.2 247.6 273.1 213.1 220.6 7

 8 Foreign banking offices in U.S. -35.6 501.1 120.5 152.4 403.3 363.2 328.9 371.0 384.1 363.2 333.9 8

 9 Banks in U.S.-affiliated areas 28.8 24.9 29.2 23.3 19.4 17.3 19.1 17.9 19.2 17.3 16.5 9

 10 Credit unions 3.6 4.7 19.4 11.1 12.4 12.7 13.3 13.1 14.4 12.7 16.4 10

 11 Life insurance companies 219.3 230.8 189.3 196.9 193.4 302.0 120.4 115.3 198.9 302.0 278.4 11

 12 Government-sponsored enterprises 94.3 141.0 202.8 91.2 74.9 69.2 73.5 75.8 73.8 69.2 66.4 12

 13 Finance companies 264.4 273.7 203.1 20.9 10.2 -25.5 9.0 -8.6 -19.3 -25.5 -22.5 13

 14 REITs 67.6 64.9 51.1 66.0 74.4 91.4 90.0 80.1 102.6 91.4 87.1 14

 15 Brokers and dealers -71.7 -302.8 -733.7 -727.0 -787.1 -1262.4 -950.3 -959.5 -1143.8 -1262.4 -1244.4 15

 16 Holding companies 328.3 422.9 548.0 522.0 481.1 833.8 732.6 733.5 787.4 833.8 899.1 16

 17 Funding corporations -330.2 632.5 669.6 740.3 763.9 962.6 739.9 715.4 787.2 962.6 892.6 17

 18 Total assets 13260.9 12798.3 12606.1 13056.3 13445.9 14262.7 13595.6 13744.7 13917.0 14262.7 13246.2 18

 19 Nonfinancial corporate business 6614.9 5974.7 5959.2 6307.4 6371.4 6841.2 6358.7 6456.0 6581.5 6841.2 6812.9 19

 20 Nonfinancial noncorporate business 1902.0 2003.9 1921.3 1996.0 2013.1 2039.0 2017.8 2021.9 2024.9 2039.0 2044.6 20

 21 State and local governments 122.6 215.1 252.7 231.1 173.5 115.4 161.5 163.9 145.5 115.4 101.9 21

 22 Federal government 91.4 62.0 94.3 84.5 83.2 79.8 80.2 79.9 79.6 79.8 80.5 22

 23 Rest of the world 2190.6 1865.9 1799.2 1905.4 1911.0 2078.7 2029.0 2043.3 2060.0 2078.7 1156.7 23

 24 Monetary authority 16.5 16.1 65.6 83.0 126.0 190.6 141.6 159.3 174.0 190.6 211.9 24

 25 U.S.-chartered depository institutions 665.9 946.5 691.3 581.5 617.0 513.6 530.1 557.7 559.3 513.6 463.8 25

 26 Foreign banking offices in U.S. -104.9 259.7 143.9 148.7 371.4 354.4 300.2 350.2 338.0 354.4 338.4 26

 27 Banks in U.S.-affiliated areas 12.1 11.1 6.5 11.0 11.8 12.0 11.8 15.8 13.2 12.0 11.8 27

 28 Credit unions 33.5 30.0 30.6 71.9 59.1 59.8 67.4 61.2 60.6 59.8 66.6 28

 29 Life insurance companies 291.2 324.9 304.5 288.2 328.1 361.8 312.7 321.4 334.2 361.8 333.6 29

 30 Private pension funds 623.1 477.3 514.4 526.7 607.2 575.4 571.5 581.6 581.9 575.4 536.5 30

 31 State and local govt. retirement funds 113.0 94.6 86.1 102.2 110.6 110.2 109.0 109.2 110.0 110.2 105.7 31

 32 Mutual funds 16.8 20.0 14.9 2.9 5.7 -27.4 -34.5 -50.0 -45.3 -27.4 -27.4 32

 33 Money market mutual funds 69.0 35.2 26.9 23.5 22.7 28.8 17.8 19.9 25.1 28.8 31.5 33

 34 Government-sponsored enterprises 141.7 99.1 100.3 148.6 148.5 152.6 150.1 135.9 139.6 152.6 118.2 34

 35 Finance companies -147.8 -169.5 -109.5 -127.5 -127.6 -166.0 -137.2 -150.3 -159.5 -166.0 -172.6 35

 36 REITs 55.4 54.6 46.1 53.5 66.8 89.3 75.4 79.0 82.4 89.3 97.2 36

 37 Brokers and dealers 208.1 31.3 67.5 61.1 35.8 32.7 58.8 39.7 46.0 32.7 45.6 37

 38 Holding companies 345.9 446.0 590.3 556.7 510.4 820.7 773.7 749.0 765.9 820.7 888.7 38

 39 Discrepancy -8485.5 -6070.2 -6408.3 -6816.6 -7810.5 -8928.9 -8161.7 -8516.8 -8600.9 -8928.9 -8679.1 39
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B.100 Balance Sheet of Households and Nonprofit Organizations (1)

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

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Assets 81114.9 68261.5 70072.8 73858.5 74742.7 80784.1 77559.8 77316.3 79263.4 80784.1 83727.7 1

 2 Nonfinancial assets 28216.9 24825.6 23769.0 23472.8 23432.6 25188.9 23839.0 24218.3 24682.1 25188.9 26030.0 2

 3 Real estate 23486.6 19975.2 18892.7 18583.8 18382.9 19969.0 18738.8 19074.0 19505.3 19969.0 20752.8 3

 4 Households (2,3) 20823.8 17582.8 17155.7 16623.9 16233.2 17690.9 16592.9 16913.7 17258.2 17690.9 18453.3 4

 5 Nonprofit organizations 2662.8 2392.4 1737.0 1959.9 2149.7 2278.1 2145.9 2160.3 2247.1 2278.1 2299.5 5

 Equipment and software owned by

 6 nonprofit organizations (4) 262.0 283.6 294.8 304.9 317.5 334.5 322.0 325.9 329.8 334.5 338.3 6

 7 Consumer durable goods (4) 4468.3 4566.8 4581.6 4584.1 4732.2 4885.5 4778.2 4818.5 4847.0 4885.5 4938.9 7

 8 Financial assets 52898.0 43436.0 46303.7 50385.8 51310.1 55595.2 53720.7 53097.9 54581.3 55595.2 57697.7 8

 9 Deposits 7494.9 8106.2 8022.4 8003.6 8648.8 9139.3 8686.0 8707.6 8752.4 9139.3 9149.7 9

 10 Foreign deposits 80.5 56.9 50.5 52.1 50.1 47.6 48.3 46.2 48.7 47.6 50.2 10

 11 Checkable deposits and currency 154.9 364.9 393.5 437.9 754.5 884.6 741.0 733.0 727.7 884.6 875.9 11

 12 Time and savings deposits 5912.7 6102.6 6265.1 6384.0 6734.3 7096.9 6844.5 6904.1 6930.6 7096.9 7163.6 12

 13 Money market fund shares 1346.7 1581.8 1313.2 1129.7 1109.9 1110.2 1052.2 1024.2 1045.4 1110.2 1059.9 13

 14 Credit market instruments 4865.4 5204.1 5648.4 5928.1 5401.6 5468.8 5438.4 5414.7 5419.1 5468.8 5464.9 14

 15 Open market paper 107.3 6.0 34.6 31.7 29.1 28.6 29.8 28.9 28.7 28.6 30.0 15

 16 Treasury securities 183.0 269.4 905.9 1265.2 815.8 1197.8 1007.2 1052.2 1081.7 1197.8 1229.4 16

 17 Savings bonds 196.4 194.0 191.2 187.9 185.2 182.4 184.7 184.3 183.6 182.4 181.7 17

 18 Other Treasury -13.4 75.4 714.7 1077.3 630.6 1015.4 822.4 867.9 898.1 1015.4 1047.7 18

 19 Agency- and GSE-backed securities 874.3 1097.8 435.7 389.9 372.8 96.9 273.2 237.6 176.0 96.9 10.3 19

 20 Municipal securities 1674.1 1722.0 1829.1 1873.3 1807.7 1656.5 1781.3 1774.4 1709.1 1656.5 1657.7 20

 21 Corporate and foreign bonds 1899.3 1968.1 2314.9 2251.6 2273.3 2402.0 2244.4 2226.0 2331.1 2402.0 2454.6 21

 22 Other loans and advances (5) 17.6 29.7 26.8 26.2 23.4 20.9 26.5 23.2 23.1 20.9 19.9 22

 23 Mortgages 109.8 111.1 101.4 90.2 79.5 66.1 75.9 72.4 69.4 66.1 63.0 23

 24 Corporate equities (2) 10448.0 5954.4 7518.3 8843.9 8866.3 10178.4 9892.2 9534.3 9960.5 10178.4 11242.8 24

 25 Mutual fund shares (6) 4869.1 3313.9 4130.7 4617.8 4453.0 5372.4 5039.4 4893.1 5196.5 5372.4 5779.3 25

 26 Security credit 866.4 742.7 668.6 694.3 752.4 776.0 762.3 777.7 780.2 776.0 776.6 26

 27 Life insurance reserves 1076.8 1049.8 1109.2 1137.2 1203.6 1186.1 1199.4 1172.6 1180.6 1186.1 1202.4 27

 28 Pension fund reserves 13236.1 10567.7 11959.2 13209.9 13434.1 14444.1 14117.1 13943.1 14402.2 14444.1 15007.6 28

 29 Equity in noncorporate business (7) 9329.1 7730.8 6459.8 7120.5 7673.2 8141.4 7713.7 7784.0 8016.5 8141.4 8194.6 29

 30 Miscellaneous assets 712.2 766.3 787.1 830.5 877.2 888.7 872.2 870.9 873.4 888.7 879.8 30

 31 Liabilities 14253.2 14097.6 13874.8 13636.9 13415.0 13437.7 13374.7 13386.0 13314.1 13437.7 13378.6 31

 32 Credit market instruments 13689.3 13669.0 13397.0 13059.9 12863.7 12819.3 12791.0 12823.0 12726.0 12819.3 12758.4 32

 33 Home mortgages (8) 10580.1 10523.1 10373.5 9895.2 9666.1 9432.0 9584.5 9528.3 9442.1 9432.0 9378.8 33

 34 Consumer credit 2506.3 2525.9 2420.2 2522.2 2615.7 2768.2 2605.9 2646.6 2705.5 2768.2 2762.4 34

 35 Municipal securities (9) 250.2 259.5 265.4 263.2 255.5 241.0 253.8 249.5 245.6 241.0 239.4 35

 36 Depository institution loans n.e.c. 21.8 26.4 10.2 61.0 12.4 66.3 34.8 88.0 23.1 66.3 66.9 36

 37 Other loans and advances 127.0 133.2 133.7 136.1 138.1 139.3 137.8 137.6 138.3 139.3 139.4 37

 38 Commercial mortgages (9) 204.0 200.9 194.1 182.2 175.9 172.5 174.3 173.1 171.4 172.5 171.5 38

 39 Security credit 325.5 164.8 203.0 278.2 238.9 303.7 267.7 244.5 269.1 303.7 306.2 39

 40 Trade payables (9) 214.5 236.7 252.7 274.1 288.2 289.7 289.8 290.5 290.5 289.7 288.1 40

 Deferred and unpaid

 41 life insurance premiums 23.9 27.0 22.1 24.7 24.3 24.9 26.2 28.0 28.4 24.9 25.9 41

 42 Net worth 66861.7 54163.9 56197.9 60221.6 61327.7 67346.5 64185.0 63930.3 65949.3 67346.5 70349.1 42

 Memo:

 Replacement-cost value of structures:

 43 Residential 14660.2 14410.4 14132.3 14215.5 14363.4 14632.7 14317.7 14379.2 14521.4 14632.7 14903.1 43

 44 Households 14445.1 14195.4 13918.5 14002.9 14152.6 14421.6 14108.6 14170.2 14311.2 14421.6 14689.1 44

 45 Nonprofit organizations 215.1 215.0 213.8 212.6 210.8 211.1 209.2 209.1 210.2 211.1 214.0 45

 46 Nonresidential (nonprofits) 1404.7 1489.5 1439.0 1450.8 1502.3 1509.9 1506.4 1512.4 1510.3 1509.9 1510.8 46

 47 Disposable personal income (SAAR) 10423.6 11024.5 10722.4 11127.1 11549.3 11950.8 11776.4 11861.8 11929.7 12235.2 11998.1 47

 Household net worth as percentage of

 48 disposable personal income (SAAR) 641.4 491.3 524.1 541.2 531.0 563.5 545.0 539.0 552.8 550.4 586.3 48

 Owners’ equity in household real

 49 estate (10) 10243.7 7059.7 6782.2 6728.7 6567.1 8258.9 7008.4 7385.4 7816.1 8258.9 9074.5 49

 Owners’ equity as percentage of

 50 household real estate (11) 49.2 40.2 39.5 40.5 40.5 46.7 42.2 43.7 45.3 46.7 49.2 50

(1) Sector includes domestic hedge funds, private equity funds, and personal trusts.

(2) At market value.

(3) All types of owner-occupied housing including farm houses and mobile homes, as well as second homes that are not rented, vacant homes for sale, and vacant land.

(4) At replacement (current) cost.

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

(6) Value based on the market values of equities held and the book value of other assets held by mutual funds.

(7) Net worth of nonfinancial noncorporate business (table B.103, line 32) and owners’ equity in unincorporated security brokers and dealers.

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

(9) Liabilities of nonprofit organizations.

(10) Line 4 less line 33.

(11) Line 49 divided by line 4.
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B.102 Balance Sheet of Nonfinancial Corporate Business

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

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 With nonfinancial assets stated at either market value or replacement cost:

 1 Assets 30533.0 28875.8 26197.3 28071.5 29682.8 31386.9 29962.9 30235.0 30968.9 31386.9 31771.8 1

 2 Nonfinancial assets 16770.9 15938.1 12857.2 14050.4 15147.3 15935.5 15218.6 15305.2 15750.9 15935.5 16071.5 2

 3 Real estate (1) 10925.8 9960.7 7062.8 8040.9 8866.6 9404.6 8859.1 8920.1 9281.0 9404.6 9485.0 3

 4 Equipment and software (2) 4012.2 4190.8 4124.6 4182.1 4313.6 4474.4 4358.7 4393.5 4430.6 4474.4 4510.3 4

 5 Inventories (2) 1832.9 1786.6 1669.8 1827.4 1967.1 2056.5 2000.8 1991.6 2039.3 2056.5 2076.2 5

 6 Financial assets 13762.1 12937.7 13340.1 14021.0 14535.5 15451.3 14744.3 14929.8 15217.9 15451.3 15700.3 6

 7 Foreign deposits 50.3 24.7 31.5 40.6 34.8 13.1 22.1 10.6 10.2 13.1 11.4 7

 8 Checkable deposits and currency 143.2 14.2 156.6 231.7 268.8 312.3 271.8 296.3 331.7 312.3 365.8 8

 9 Time and savings deposits 441.3 381.9 488.8 548.7 563.0 591.4 579.0 574.2 593.5 591.4 595.0 9

 10 Money market fund shares 548.5 727.0 655.5 497.8 462.4 458.3 445.2 433.5 440.5 458.3 448.5 10

 11 Security RPs 8.1 7.2 7.9 12.1 12.6 10.4 13.6 13.9 11.3 10.4 13.0 11

 12 Commercial paper 69.5 57.3 56.0 68.0 68.0 61.8 62.8 58.0 60.6 61.8 64.2 12

 13 Treasury securities 38.3 30.5 43.0 48.0 43.2 58.2 48.0 59.1 63.6 58.2 56.5 13

 14 Agency- and GSE-backed securities 12.8 10.2 14.3 16.0 14.4 14.4 16.0 17.2 18.7 14.4 8.8 14

 15 Municipal securities 29.2 26.2 27.1 23.9 22.5 35.1 25.8 24.9 29.3 35.1 30.4 15

 16 Mortgages 41.4 33.6 29.5 28.0 28.2 28.4 28.2 28.3 28.3 28.4 28.4 16

 17 Consumer credit 57.2 56.0 53.8 46.2 48.5 48.5 47.2 47.3 47.8 48.5 42.0 17

 18 Trade receivables 2254.4 2084.9 2053.9 2155.9 2238.0 2347.9 2349.8 2425.3 2440.3 2347.9 2403.3 18

 19 Mutual fund shares (1) 178.0 106.3 162.0 186.8 165.9 181.7 179.1 173.2 179.6 181.7 188.7 19

 20 Miscellaneous assets 9890.0 9377.7 9560.2 10117.3 10565.2 11290.0 10655.9 10768.1 10962.6 11290.0 11444.3 20

 21 Liabilities 12916.0 13225.0 12898.5 13221.4 13433.1 13968.2 13500.9 13597.6 13780.4 13968.2 14073.2 21

 22 Credit market instruments 7198.5 7564.0 7329.5 7485.9 8012.6 8704.7 8125.4 8257.6 8459.6 8704.7 8859.1 22

 23 Commercial paper 123.8 131.5 58.4 82.9 116.3 130.5 127.6 132.1 136.1 130.5 140.2 23

 24 Municipal securities (3) 349.0 415.0 452.2 485.4 493.9 509.1 495.2 505.3 504.1 509.1 510.4 24

 25 Corporate bonds (4) 3729.1 3954.5 4366.2 4804.8 5215.6 5795.2 5346.4 5452.9 5599.7 5795.2 5937.7 25

 26 Depository institution loans n.e.c. 715.9 780.0 546.0 480.9 549.8 609.8 542.4 566.2 574.8 609.8 606.2 26

 27 Other loans and advances 1316.1 1384.0 1139.1 979.7 1039.3 1071.4 1023.3 1017.3 1063.2 1071.4 1089.9 27

 28 Mortgages 964.7 899.0 767.6 652.2 597.7 588.7 590.5 583.9 581.7 588.7 574.7 28

 29 Trade payables 1897.9 1672.7 1587.5 1743.2 1760.7 1885.6 1785.1 1834.8 1866.3 1885.6 1891.6 29

 30 Taxes payable 35.8 39.0 35.7 42.9 51.7 55.7 61.9 59.3 59.5 55.7 72.7 30

 31 Miscellaneous liabilities 3783.7 3949.2 3945.7 3949.5 3608.2 3322.2 3528.5 3446.0 3395.0 3322.2 3249.8 31

 32 Net worth (market value) 17617.0 15650.8 13298.9 14850.1 16249.6 17418.7 16462.0 16637.4 17188.4 17418.7 17698.6 32

 Memo:

 Replacement-cost value of structures:

 33 Residential 170.8 172.7 173.7 173.3 171.0 170.4 169.5 169.2 169.9 170.4 172.6 33

 34 Nonresidential 6644.8 7203.6 6894.2 7147.1 7516.7 7666.4 7566.5 7625.8 7644.9 7666.4 7700.8 34

 35 Market value of equities outstanding 15730.7 10016.6 12512.2 14441.8 14508.5 16162.3 16070.6 15539.0 16340.7 16162.3 17858.9 35

 36 Debt/net worth (percent) (5) 40.9 48.3 55.1 50.4 49.3 50.0 49.4 49.6 49.2 50.0 50.1 36

 37 Debt/equities (percent) (6) 45.8 75.5 58.6 51.8 55.2 53.9 50.6 53.1 51.8 53.9 49.6 37

 38 Equities/net worth (percent) (7) 89.3 64.0 94.1 97.3 89.3 92.8 97.6 93.4 95.1 92.8 100.9 38

 With nonfinancial assets stated at historical cost:

 39 Assets (8) 22897.4 22451.5 22884.2 23855.1 24782.2 26143.6 25147.0 25420.2 25826.7 26143.6 26564.1 39

 40 Nonfinancial assets 9135.4 9513.9 9544.1 9834.1 10246.8 10692.2 10402.6 10490.4 10608.8 10692.2 10863.8 40

 41 Real estate 3841.6 4145.8 4336.5 4519.1 4705.9 4919.7 4759.7 4811.3 4860.4 4919.7 4994.1 41

 42 Equipment and software 3630.1 3738.5 3714.8 3755.5 3857.1 3988.7 3889.4 3922.3 3953.3 3988.7 4024.6 42

 43 Inventories 1663.6 1629.5 1492.7 1559.5 1683.8 1783.8 1753.5 1756.8 1795.1 1783.8 1845.0 43

 44 Net worth (historical cost) (9) 9981.5 9226.6 9985.8 10633.7 11349.1 12175.4 11646.0 11822.6 12046.3 12175.4 12490.9 44

 Memo:

 Historical-cost value of structures:

 45 Residential 73.1 76.6 78.8 80.4 81.9 83.9 82.4 82.8 83.3 83.9 84.4 45

 46 Nonresidential 3330.7 3624.8 3811.3 3951.8 4112.5 4311.7 4161.1 4210.2 4259.3 4311.7 4363.2 46

 47 Debt/net worth (percent) (10) 72.1 82.0 73.4 70.4 70.6 71.5 69.8 69.8 70.2 71.5 70.9 47

 (1) At market value.

 (2) At replacement (current) cost.

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

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

 (5) Line 22 divided by line 32.

 (6) Line 22 divided by line 35.

 (7) Line 35 divided by line 32.

 (8) Sum of lines 6 and 40.

 (9) Line 39 less line 21.

 (10) Line 22 divided by line 44.
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B.103 Balance Sheet of Nonfinancial Noncorporate Business

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

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Assets 14666.5 13515.9 12157.3 12760.2 13364.4 13910.7 13417.9 13506.0 13750.3 13910.7 13986.7 1

 2 Nonfinancial assets 11070.6 9822.7 8565.0 9061.0 9623.8 10121.8 9670.2 9750.1 9988.4 10121.8 10189.4 2

 3 Real estate (1) 10158.6 8883.2 7650.5 8105.4 8610.7 9183.0 8668.8 8773.0 9028.4 9183.0 9276.3 3

 4 Residential 5858.0 4927.5 4524.8 4664.9 4861.6 5241.0 4916.1 4987.7 5127.7 5241.0 5383.2 4

 5 Nonresidential 4300.5 3955.7 3125.6 3440.5 3749.0 3942.0 3752.7 3785.3 3900.7 3942.0 3893.1 5

 6 Equipment and software (2) 667.4 701.7 694.6 702.2 730.8 657.3 716.0 696.2 678.5 657.3 629.6 6

 7 Residential (3) 47.4 48.7 46.1 44.3 46.1 47.6 47.3 47.5 47.3 47.6 47.7 7

 8 Nonresidential 619.9 653.0 648.6 657.9 684.7 609.7 668.7 648.7 631.2 609.7 581.9 8

 9 Inventories (2) 244.6 237.7 219.9 253.4 282.4 281.6 285.4 281.0 281.6 281.6 283.4 9

 10 Financial assets 3595.9 3693.2 3592.3 3699.3 3740.6 3788.9 3747.7 3755.9 3761.9 3788.9 3797.3 10

 11 Checkable deposits and currency 515.6 519.4 539.8 521.8 528.4 535.4 529.4 530.6 531.6 535.4 536.6 11

 12 Time and savings deposits 359.3 358.1 353.3 356.2 359.8 364.4 360.5 361.3 361.8 364.4 365.2 12

 13 Money market fund shares 74.3 75.4 73.7 76.8 77.7 78.7 77.8 78.0 78.1 78.7 78.8 13

 14 Credit market instruments 106.7 95.8 89.1 95.8 96.8 98.0 96.9 97.1 97.3 98.0 98.2 14

 15 Treasury securities 59.3 51.8 46.1 48.1 48.5 49.2 48.6 48.7 48.8 49.2 49.3 15

 16 Municipal securities 5.3 4.9 5.1 5.6 5.7 5.8 5.7 5.7 5.7 5.8 5.8 16

 17 Mortgages 42.1 39.1 37.9 42.1 42.5 43.1 42.6 42.7 42.8 43.1 43.2 17

 18 Consumer credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 Trade receivables 525.6 522.7 496.3 533.4 538.8 545.6 539.7 540.9 541.7 545.6 546.8 19

 20 Miscellaneous assets 2014.3 2121.8 2040.0 2115.3 2139.2 2166.9 2143.3 2148.0 2151.5 2166.9 2171.7 20

 21 Insurance receivables 107.3 111.5 112.4 112.6 119.0 120.7 118.4 119.1 119.4 120.7 120.1 21

 22 Equity investment in GSEs (4) 5.0 6.4 6.3 6.7 7.0 7.1 7.1 7.0 7.1 7.1 7.1 22

 23 Other 1902.0 2003.9 1921.3 1996.0 2013.1 2039.0 2017.8 2021.9 2024.9 2039.0 2044.6 23

 24 Liabilities 5349.0 5794.5 5709.6 5653.5 5704.0 5787.5 5722.1 5739.9 5752.5 5787.5 5808.8 24

 25 Credit market instruments 3774.6 4093.4 3973.3 3940.0 3952.4 4023.6 3960.5 3976.3 3987.1 4023.6 4027.9 25

 26 Depository institution loans n.e.c. 926.5 1046.1 944.1 923.7 980.4 1070.3 1008.6 1031.5 1047.7 1070.3 1075.5 26

 27 Other loans and advances 165.1 177.4 172.0 174.1 174.7 183.9 176.2 177.9 180.3 183.9 183.4 27

 28 Mortgages 2683.0 2869.9 2857.2 2842.2 2797.3 2769.4 2775.7 2766.9 2759.0 2769.4 2769.0 28

 29 Trade payables 374.9 380.7 388.3 416.8 420.7 425.1 421.0 421.4 422.1 425.1 430.5 29

 30 Taxes payable 99.5 106.2 99.9 99.2 100.3 101.7 100.5 100.7 100.9 101.7 101.9 30

 31 Miscellaneous liabilities 1100.0 1214.3 1248.1 1197.6 1230.6 1237.0 1240.1 1241.4 1242.4 1237.0 1248.5 31

 32 Net worth (5) 9317.5 7721.3 6447.7 7106.7 7660.4 8123.2 7695.8 7766.1 7997.9 8123.2 8177.9 32

 Memo:

 Replacement-cost value of structures:

 33 Residential 3072.5 3047.3 3017.4 3004.3 2975.5 2967.0 2949.9 2946.1 2958.7 2967.0 3004.9 33

 34 Nonresidential 1594.6 1691.6 1599.8 1612.0 1666.8 1623.4 1659.1 1652.5 1636.6 1623.4 1605.7 34

 35 Debt/net worth (percent) (6) 40.5 53.0 61.6 55.4 51.6 49.5 51.5 51.2 49.9 49.5 49.3 35

(1) At market value.

(2) At replacement (current) cost.

(3) Durable goods in rental properties.

(4) Equity in the Farm Credit System.

(5) Line 1 less line 24. Included in table B.100, line 29.

(6) Line 25 divided by line 32.
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112 Z.1, June 6, 2013

R.100 Change in Net Worth of Households and Nonprofit Organizations

Billions of dollars; not seasonally adjusted

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Change in net worth (1) 792.3 -12697.8 2034.0 4023.6 1106.1 6018.8 2857.4 -254.7 2019.0 1397.1 3002.7 1

 2 Net investment 1033.3 712.1 621.6 1156.7 1367.3 1148.4 279.8 197.4 174.6 496.6 278.5 2

 3 Net physical investment 595.6 358.1 174.5 187.9 220.9 309.1 -1.7 60.3 110.5 140.0 9.6 3

 4 Capital expenditures 1757.4 1559.3 1384.6 1398.5 1460.7 1564.0 308.0 372.8 425.8 457.5 330.3 4

 5 - Consumption of fixed capital 1161.8 1201.2 1210.1 1210.7 1239.8 1254.9 309.6 312.5 315.3 317.5 320.6 5

 6 Net lending (+) or net borrowing (-) 437.7 354.0 447.1 968.9 1146.5 839.4 281.5 137.2 64.2 356.6 268.8 6

 7 Net acquisition of financial assets 1340.3 193.4 267.8 725.6 919.2 926.7 238.9 153.4 52.1 482.4 209.8 7

 8 - Net increase in liabilities 902.6 -160.6 -179.3 -243.2 -227.3 87.4 -42.6 16.2 -12.1 125.9 -59.0 8

 Holding gains on assets

 9 at market value (2) -278.8 -13268.8 1024.9 2811.8 17.4 4836.1 2597.8 -375.7 1714.5 899.4 2729.6 9

 10 Real estate -1867.6 -3717.5 -1190.8 -386.8 -271.8 1507.4 410.2 323.9 371.5 401.8 836.8 10

 11 Corporate equities 922.2 -3916.8 1585.1 1496.4 145.2 1633.4 1116.8 -363.4 568.3 311.8 1020.8 11

 12 Mutual fund shares 431.9 -1509.3 472.7 251.7 -357.3 417.6 346.7 -195.0 151.9 114.0 199.7 12

 13 Equity in noncorporate business 119.7 -1314.3 -1238.7 517.0 561.3 498.4 56.6 67.8 236.3 137.7 80.7 13

 14 Life insurance and pension fund reserves 115.1 -2810.8 1397.0 934.5 -59.8 779.3 667.6 -209.0 386.5 -65.8 591.4 14

 15 Equity investment under PPIP 0.0 0.0 -0.3 -1.0 -0.2 -0.1 -0.0 -0.0 0.0 0.0 0.0 15

 Holding gains on assets

 16 at current cost (2) -52.1 -32.5 -43.9 -89.2 16.8 -34.5 -0.6 -3.7 -17.2 -12.9 -2.0 16

 17 Consumer durable goods -58.1 -36.3 -42.9 -90.6 14.7 -39.9 -2.0 -4.4 -18.5 -14.9 -3.2 17

 18 Equipment and software 5.9 3.8 -1.1 1.3 2.2 5.4 1.4 0.7 1.3 2.0 1.1 18

 19 Other volume changes (3) 90.0 -108.6 431.4 144.3 -295.5 68.7 -19.7 -72.8 147.1 14.1 -3.3 19

 Memo:

 20 Net worth outstanding (4) 66861.7 54163.9 56197.9 60221.6 61327.7 67346.5 64185.0 63930.3 65949.3 67346.5 70349.1 20

 21 Disposable personal income 10423.6 11024.5 10722.4 11127.1 11549.3 11950.8 11776.4 11861.8 11929.7 12235.2 11998.1 21

(1) Sum of net investment (line 2), holding gains (lines 9 and 16), and other volume changes (line 19).

(2) Calculated as change in amount outstanding less net purchases during period less disaster-related losses to fixed assets.

(3) Consists of statistical discontinuities and disaster-related losses to fixed assets. Also includes the difference between series for consumption of fixed capital published by BEA.

(4) Table B.100, line 42.
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R.102 Change in Net Worth of Nonfinancial Corporate Business

Billions of dollars; not seasonally adjusted

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Change in net worth (1) 2043.4 -1966.2 -2351.9 1551.2 1399.6 1169.1 212.3 175.4 551.1 230.3 279.9 1

 2 Net investment -639.4 -985.3 399.8 5.6 -181.1 19.4 17.9 -16.2 14.1 3.6 37.9 2

 3 Net physical investment 353.5 293.6 -97.6 155.9 226.3 271.7 68.9 54.6 77.6 70.7 62.4 3

 4 Capital expenditures 1146.9 1112.4 766.5 975.2 1056.0 1192.7 295.2 295.3 303.6 298.5 300.6 4

 5 - Consumption of fixed capital 840.6 863.2 861.0 857.9 892.3 931.9 229.8 232.2 233.8 236.0 239.1 5

 6 - Inventory valuation adjustment -47.2 -44.5 3.2 -38.7 -62.6 -10.9 -3.5 8.6 -7.8 -8.2 -0.9 6

 7 Net lending (+) or net borrowing (-) -206.1 -943.0 562.0 127.7 65.1 148.4 22.0 56.2 35.8 34.4 40.3 7

 8 Net acquisition of financial assets 1074.9 -604.0 307.3 614.0 519.0 844.9 144.4 207.5 255.9 237.0 185.2 8

 9 - Net increase in liabilities 1281.0 339.0 -254.7 486.4 453.9 696.5 122.5 151.2 220.1 202.7 144.9 9

 10 Net corporate equity issues -786.8 -336.0 -64.6 -278.0 -472.5 -400.7 -72.9 -127.0 -99.3 -101.4 -64.9 10

 Holding gains on assets

 11 at market value (2) 1568.7 -1207.8 -2966.8 908.7 739.9 451.4 -22.2 29.9 344.4 99.4 40.0 11

 12 Real estate 1559.0 -1152.6 -2987.3 895.1 748.0 435.9 -35.2 35.9 338.1 97.0 32.7 12

 13 Mutual fund shares 9.7 -55.2 20.4 13.6 -8.1 15.5 13.0 -6.1 6.2 2.4 7.3 13

 Holding gains on assets less

 14 liabilities at current cost (2) 229.8 9.7 139.3 18.8 32.7 9.0 30.0 -61.2 1.3 38.9 95.1 14

 15 Equipment and software 51.4 103.4 -11.6 46.3 65.8 69.5 22.3 11.5 15.7 20.1 9.8 15

 16 Inventories (3) 60.9 -50.5 31.6 58.3 38.0 11.9 12.1 -15.8 15.8 -0.1 9.8 16

 17 Direct investment abroad 145.1 -144.4 -49.2 -109.2 -36.6 -80.7 -4.8 -48.7 -32.5 5.3 88.6 17

 18 - Foreign direct investment in U.S. 27.7 -101.2 -168.5 -23.4 34.4 -8.3 -0.4 8.2 -2.4 -13.7 13.1 18

 19 Other volume changes (4) 884.3 217.2 75.8 618.0 808.0 689.3 186.6 223.0 191.3 88.4 107.0 19

 Memo:

 20 Net worth outstanding (5) 17617.0 15650.8 13298.9 14850.1 16249.6 17418.7 16462.0 16637.4 17188.4 17418.7 17698.6 20

(1) Sum of net investment (line 2), holding gains (lines 11 and 14), and other volume changes (line 19).

(2) Calculated as change in amount outstanding less net purchases during period less disaster-related losses to fixed assets.

(3) Before inventory valuation adjustment.

(4) Consists of statistical discontinuities and disaster-related losses to fixed assets.

(5) Table B.102, line 32.
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114 Z.1, June 6, 2013

R.103 Change in Net Worth of Nonfinancial Noncorporate Business

Billions of dollars; not seasonally adjusted

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Change in net worth (1) 136.3 -1596.1 -1273.6 659.0 553.7 462.8 35.4 70.3 231.7 125.4 54.6 1

 2 Net capital transfers paid 0.0 -3.3 -6.0 -7.8 -1.6 -5.8 -0.1 -0.1 -0.1 -5.5 -0.1 2

 3 Net investment 16.0 -292.2 -22.6 151.0 -5.0 -30.9 -23.3 1.3 -2.9 -6.0 -24.2 3

 4 Net physical investment 122.2 55.9 -7.6 -8.6 4.3 13.9 -11.3 13.8 6.5 4.8 -8.3 4

 5 Capital expenditures 306.5 267.2 203.4 201.3 219.3 236.4 43.6 69.3 62.4 61.1 48.6 5

 6 - Consumption of fixed capital 184.3 211.3 211.0 209.9 215.0 222.5 54.9 55.4 55.8 56.3 56.9 6

 7 Net lending (+) or net borrowing (-) -122.2 -52.6 13.6 16.4 -2.7 -8.1 11.4 -13.8 -6.4 0.7 8.4 7

 8 Net acquisition of financial assets 479.4 97.3 -100.8 106.9 41.0 47.3 6.9 7.9 5.8 26.7 8.1 8

 9 - Net increase in liabilities 601.6 149.9 -114.4 90.5 43.7 55.4 -4.5 21.7 12.2 26.0 -0.2 9

 10 Proprietor’s net investment (2) 16.0 -295.5 -28.6 143.2 -6.6 -36.7 -23.4 1.2 -2.9 -11.5 -24.3 10

 11 Holding gains on real estate (3) 132.1 -1310.3 -1236.4 468.8 516.1 580.9 66.5 103.4 251.7 159.3 100.7 11

 12 Residential -388.4 -936.9 -399.2 150.4 206.6 388.2 56.9 74.2 142.2 115.0 143.5 12

 13 Nonresidential 520.5 -373.4 -837.2 318.4 309.5 192.7 9.6 29.2 109.5 44.3 -42.8 13

 14 Holding gains on assets at current cost (3) -12.2 11.0 -13.7 35.8 42.5 -90.5 -8.9 -37.3 -20.0 -24.4 -24.9 14

 15 Residential equipment and software -0.4 0.2 -2.9 -2.5 0.9 2.3 1.4 0.4 -0.0 0.5 0.4 15

 16 Nonresidential equipment and software -34.9 16.7 -1.9 2.4 10.1 -100.5 -13.1 -34.8 -24.2 -28.4 -24.1 16

 17 Inventories 23.1 -6.0 -8.9 35.8 31.5 7.6 2.8 -2.9 4.2 3.4 -1.2 17

 18 Other volume changes (4) 0.3 -1.3 5.1 11.2 1.7 9.1 1.2 3.0 2.9 2.0 3.1 18

 Memo:

 19 Net worth outstanding (5) 9317.5 7721.3 6447.7 7106.7 7660.4 8123.2 7695.8 7766.1 7997.9 8123.2 8177.9 19

(1) Sum of net capital transfers paid (line 2), net investment (line 3), holding gains (lines 11 and 14), and other volume changes (line 18).

(2) Shown on table F.103, line 30.

(3) Calculated as change in amount outstanding less net investment during period less disaster-related losses to fixed assets.

(4) Consists of statistical discontinuities and disaster-related losses to fixed assets.

(5) Table B.103, line 32.
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B.100.e Balance Sheet of Households and Nonprofit Organizations with Equity Detail (1)

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

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Assets 81114.9 68261.5 70072.8 73858.5 74742.7 80784.1 77559.8 77316.3 79263.4 80784.1 83727.7 1

 2 Nonfinancial assets 28216.9 24825.6 23769.0 23472.8 23432.6 25188.9 23839.0 24218.3 24682.1 25188.9 26030.0 2

 3 Financial assets 52898.0 43436.0 46303.7 50385.8 51310.1 55595.2 53720.7 53097.9 54581.3 55595.2 57697.7 3

 4 Deposits 7494.9 8106.2 8022.4 8003.6 8648.8 9139.3 8686.0 8707.6 8752.4 9139.3 9149.7 4

 5 Credit market instruments 4865.4 5204.1 5648.4 5928.1 5401.6 5468.8 5438.4 5414.7 5419.1 5468.8 5464.9 5

 6 Equity shares at market value 20923.5 12451.3 15917.1 18451.6 18006.2 20608.7 20145.6 19359.3 20356.4 20608.7 22499.6 6

 7 Directly held 10448.0 5954.4 7518.3 8843.9 8866.3 10178.4 9892.2 9534.3 9960.5 10178.4 11242.8 7

 8 Indirectly held 10475.5 6496.9 8398.8 9607.8 9139.9 10430.2 10253.4 9825.0 10396.0 10430.2 11256.7 8

 9 Life insurance companies 1466.8 956.9 1220.3 1420.5 1395.7 1556.5 1535.6 1489.4 1555.7 1556.5 1668.5 9

 10 Private pension funds 3304.6 2242.0 2852.4 3339.5 3286.2 3651.7 3613.3 3508.7 3701.9 3651.7 3869.0 10

 11 Defined benefit plans 1243.1 870.1 1056.8 1222.3 1209.8 1344.5 1331.4 1293.1 1368.1 1344.5 1407.2 11

 12 Defined contribution plans 2061.5 1371.9 1795.6 2117.2 2076.4 2307.2 2281.8 2215.6 2333.8 2307.2 2461.9 12

 13 State and local govt. retirement funds 2149.4 1360.4 1740.5 1913.2 1818.9 2126.6 2062.1 1998.0 2118.0 2126.6 2339.5 13

 14 Federal government retirement funds 145.7 83.7 116.8 140.9 134.4 152.7 153.1 146.3 153.3 152.7 172.3 14

 15 Mutual funds 3409.0 1853.9 2468.8 2793.5 2504.7 2942.7 2889.4 2682.6 2867.1 2942.7 3207.3 15

 16 Other 19614.3 17674.3 16715.9 18002.4 19253.6 20378.5 19450.7 19616.4 20053.4 20378.5 20583.5 16

 17 Liabilities 14253.2 14097.6 13874.8 13636.9 13415.0 13437.7 13374.7 13386.0 13314.1 13437.7 13378.6 17

 18 Net worth 66861.7 54163.9 56197.9 60221.6 61327.7 67346.5 64185.0 63930.3 65949.3 67346.5 70349.1 18

 Memo:

 19 Equity shares excluding defined benefit plans 17513.1 10210.4 13108.2 15303.7 14967.1 17127.8 16740.8 16057.7 16860.3 17127.8 18742.4 19

 (line 6 minus lines 11, 13 and part of line 14)

 Equity shares (line 6) as a percent of

 20 Total assets (line 1) 25.8 18.2 22.7 25.0 24.1 25.5 26.0 25.0 25.7 25.5 26.9 20

 21 Financial assets (line 3) 39.6 28.7 34.4 36.6 35.1 37.1 37.5 36.5 37.3 37.1 39.0 21

(1) Estimates of equity shares (lines 7 through 15) could differ from other sources owing to alternative definitions of ownership of equity by households.

 Prior to 1985, all pension assets are assumed to have been in defined benefit plans.
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F.100.a Nonprofit Organizations (1)

Billions of dollars

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

 

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

(2) Not included in table F.100.
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Z.1, June 6, 2013 117

L.100.a Nonprofit Organizations (1)

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

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

 

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

(2) Not included in table L.100.
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F.105.c Consolidated Statement for Federal, State, and Local Governments

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Current receipts, NIPA basis 4197.0 4051.6 3705.3 3906.8 4086.1 4284.9 4260.1 4259.3 4272.0 4348.3 4586.7 1

 2 Personal current taxes 1488.7 1435.7 1144.6 1194.8 1398.0 1480.4 1450.8 1465.2 1476.5 1529.1 1604.4 2

 3 Taxes on production and imports 1027.2 1038.6 1023.2 1055.0 1097.9 1130.0 1128.5 1130.9 1128.4 1132.2 1144.9 3

 4 Taxes on corporate income 420.6 281.0 245.9 349.5 351.8 420.5 425.9 414.4 423.9 417.8 405.6 4

 5 Taxes from the rest of the world 14.7 18.8 14.8 15.1 15.9 17.3 15.4 16.9 17.1 19.9 19.1 5

 6 Contributions for govt. social insurance 964.2 992.1 968.1 988.2 923.8 956.1 947.1 949.0 953.3 974.8 1106.4 6

 7 Income receipts on assets 144.2 137.5 143.1 141.8 141.7 138.8 140.3 139.0 138.0 137.7 158.1 7

 8 Current transfer receipts 149.2 163.9 181.2 181.9 183.7 176.0 184.2 178.1 170.4 171.3 188.0 8

 9 Current surplus of government enterprises -11.8 -16.0 -15.6 -19.5 -26.5 -34.0 -32.0 -34.1 -35.5 -34.5 -39.8 9

10 Current expenditures, NIPA basis 4430.0 4737.3 5047.9 5304.4 5425.5 5488.2 5446.5 5498.3 5499.2 5508.7 5485.2 10

11 Consumption expenditures 2217.8 2381.0 2460.3 2552.0 2579.5 2590.5 2586.9 2580.3 2618.7 2575.9 2567.1 11

12 Government social benefits 1701.2 1857.9 2116.5 2253.4 2291.4 2347.0 2320.4 2337.1 2359.9 2370.5 2401.4 12

13 Other current transfer payments 42.2 45.3 53.5 54.7 58.7 58.4 59.7 58.4 59.3 56.0 59.4 13

14 Interest payments 414.3 400.2 357.9 387.4 434.2 431.5 418.6 461.5 400.7 445.4 396.3 14

15 Subsidies 54.6 52.9 59.7 57.0 61.6 60.8 60.8 61.0 60.6 60.9 60.9 15

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

17 Net saving, NIPA basis -233.0 -685.7 -1342.6 -1397.7 -1339.4 -1203.2 -1186.4 -1239.0 -1227.2 -1160.4 -898.5 17

18 + Consumption of fixed capital 291.3 311.2 323.5 333.5 349.4 363.9 359.0 362.8 365.6 368.4 371.7 18

19 - Insurance and pension fund reserves (1) 0.1 -0.6 0.5 -1.7 -0.4 -1.4 -2.7 -0.1 -1.3 -1.7 -2.2 19

20 - Contr. for govt. soc. insur., U.S.-affiliated areas 4.7 4.8 5.0 4.9 4.4 4.6 4.6 4.6 4.6 4.7 5.3 20

21 - Net capital transfers (2) -2.6 3.0 14.9 28.1 28.3 21.8 14.5 11.8 13.9 47.2 16.4 21

22 = Gross saving less net capital transfers 56.1 -381.7 -1039.3 -1095.4 -1022.3 -864.3 -843.8 -892.6 -878.8 -842.2 -546.4 22

23 Gross investment 53.2 -449.1 -971.9 -998.7 -983.3 -733.3 -1198.4 -710.5 -311.6 -712.9 -868.3 23

24 Fixed investment 456.5 497.2 506.9 505.5 480.2 472.3 467.6 473.4 474.5 473.7 456.5 24

25 Nonproduced nonfinancial assets 12.5 -5.1 5.6 11.8 11.4 11.6 10.7 10.8 12.8 12.2 12.1 25

26 Net lending (+) or net borrowing (-) -415.8 -941.2 -1484.4 -1516.0 -1474.9 -1217.3 -1676.7 -1194.8 -798.9 -1198.8 -1336.9 26

27 Net acquisition of financial assets 74.3 527.9 166.9 278.2 -253.9 20.6 -146.2 195.4 20.7 12.5 141.1 27

28 U.S. official reserve assets -0.4 4.2 51.9 1.6 16.2 4.3 4.6 13.0 3.1 -3.7 -3.0 28

29 Checkable deposits and currency 24.9 321.6 -155.1 154.5 -240.9 -2.1 -130.5 88.5 -34.0 67.6 4.7 29

30 Time and savings deposits 34.4 17.6 9.6 -6.8 15.0 22.1 3.5 36.3 41.7 7.1 4.6 30

31 Money market fund shares 17.3 -3.3 8.9 7.9 -3.3 -7.0 -3.9 -4.5 -6.3 -13.3 1.3 31

32 Security RPs 6.4 -15.7 -3.8 -5.1 -8.3 -5.5 -3.1 -3.6 -5.0 -10.5 1.1 32

33 Credit market instruments 66.3 -58.4 198.8 127.5 -38.7 37.8 -22.9 72.3 104.8 -3.1 168.0 33

34 Open market paper -15.8 -81.9 -73.2 60.2 23.9 -6.0 -3.4 -3.9 -5.4 -11.3 1.1 34

35 Agency- and GSE-backed securities (3) 43.9 18.3 110.9 -62.5 -165.1 -53.9 -161.7 -20.9 -5.0 -28.3 20.5 35

36 Municipal securities 1.6 -0.1 0.9 0.8 -0.2 -0.6 -0.3 -0.4 -0.5 -1.1 0.1 36

37 Corporate and foreign bonds 14.2 -11.4 3.6 2.0 -7.0 -7.6 -4.3 -4.9 -7.1 -14.3 1.3 37

38 Mortgages 19.3 0.1 17.0 -6.0 -2.8 -5.5 -0.7 -4.1 -5.1 -12.2 9.3 38

39 Consumer credit 6.0 11.3 74.3 130.2 108.7 109.4 135.8 99.0 135.5 67.2 131.9 39

40 Other loans and advances (4) -2.9 5.2 65.2 2.7 4.0 2.1 11.6 7.4 -7.6 -3.1 3.8 40

41 Corporate equities -1.9 263.9 11.0 8.5 33.7 -27.2 -57.7 -10.3 -29.4 -11.4 -26.0 41

42 Mutual fund shares 1.2 15.6 -7.9 -4.9 -2.0 -7.2 -19.5 4.0 -10.1 -3.3 9.6 42

43 Trade receivables -11.3 -18.1 -39.7 -20.1 -4.9 2.4 -5.2 6.9 6.0 1.9 -13.0 43

44 Taxes receivable -32.7 -59.8 29.2 29.9 36.6 52.6 81.5 25.4 48.4 55.1 51.1 44

45 Miscellaneous assets -30.0 60.3 64.1 -14.8 -57.3 -49.5 7.2 -32.8 -98.4 -74.0 -57.2 45

46 Net increase in liabilities 490.1 1469.2 1651.3 1794.2 1221.0 1237.9 1530.6 1390.1 819.6 1211.3 1478.1 46

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

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

49 Treasury currency -0.7 -0.8 -0.4 -0.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 49

50 Credit market instruments 346.7 1317.8 1535.0 1656.9 1067.8 1142.4 1437.4 1249.1 694.3 1188.9 1269.6 50

51 Savings bonds -6.0 -2.4 -2.8 -3.3 -2.7 -2.8 -1.5 -2.4 -2.2 -4.9 -2.7 51

52 Treasury bills and other Treasury securities (4) 207.0 1302.9 1425.5 1590.8 1123.0 1151.2 1443.9 1159.3 699.2 1302.6 1219.4 52

53 Budget agency securities -0.4 0.2 0.1 0.7 1.1 -0.4 -3.3 0.1 -0.3 1.9 -1.0 53

54 Municipal securities 146.0 17.1 112.2 68.7 -53.6 -5.7 -1.6 92.0 -2.4 -110.7 53.9 54

55 Multifamily residential mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 55

56 Trade payables 66.4 61.8 -16.5 46.2 49.0 49.7 55.9 21.6 62.1 59.3 29.5 56

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

58 Miscellaneous liabilities (5) 76.6 89.5 81.4 90.6 102.9 45.5 36.8 118.0 63.4 -36.4 178.8 58

59 Discrepancy 2.9 67.4 -67.4 -96.8 -39.0 -131.0 354.6 -182.1 -567.2 -129.3 321.9 59

 Memo:

60 Net govt. saving less fixed investment (6) -689.5 -1182.9 -1849.5 -1903.2 -1819.6 -1675.6 -1654.0 -1712.5 -1701.7 -1634.1 -1355.0 60

61 Adjustment between NIPA and FOF (7) 273.6 241.7 365.1 387.2 344.7 458.3 -22.7 517.7 902.9 435.3 18.1 61

62 Items to be financed (8) -415.8 -941.2 -1484.4 -1516.0 -1474.9 -1217.3 -1676.7 -1194.8 -798.9 -1198.8 -1336.9 62

(1) Railroad Retirement Board, the National Railroad Retirement Investment Trust, and federal government life insurance reserves. Saving transferred to the households and nonprofit organizations sector.

 Includes value of Treasury and agency- and GSE-backed securities held by state and local government employee retirement funds.

(2) Table F.9, line 60 less line 12.

(3) Holdings by state and local governments may include small amounts of budget agency securities issued by the federal government.

(4) Excludes transactions with state and local governments.

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

 retirement fund, and foreign service retirement and disability fund.

(6) Line 17 less line 24.

(7) Line 18 less the sum of lines 19, 20, 21, 25, and 59.

(8) Line 60 plus line 61.
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L.105.c Consolidated Statement for Federal, State, and Local Governments

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

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 2597.9 3079.0 3131.3 3348.2 3034.2 3025.7 2982.0 3034.8 3045.1 3025.7 3052.7 1

 2 U.S. official reserve assets 36.4 41.9 94.6 95.4 103.9 102.8 104.5 103.1 104.7 102.8 99.0 2

 3 Checkable deposits and currency 127.9 447.9 292.7 446.7 205.7 209.9 161.1 206.4 195.2 209.9 194.9 3

 4 Time and savings deposits 222.9 240.4 250.1 243.2 258.2 294.3 277.2 273.1 286.6 294.3 300.1 4

 5 Money market fund shares 116.6 113.3 122.2 130.1 126.8 119.8 125.8 124.6 123.1 119.8 120.1 5

 6 Security RPs 132.8 117.2 113.3 108.3 100.0 94.5 99.2 98.3 97.1 94.5 94.7 6

 7 Credit market instruments 1215.9 1157.5 1356.3 1483.8 1445.1 1482.9 1440.6 1452.0 1483.2 1482.9 1526.0 7

 8 Open market paper 139.3 57.4 -15.8 44.4 68.3 62.3 67.5 66.5 65.2 62.3 62.6 8

 9 Agency- and GSE-backed securities (1) 467.6 485.8 596.8 534.3 369.2 315.2 328.7 323.5 322.3 315.2 320.3 9

10 Municipal securities 9.5 9.4 10.3 11.1 10.9 10.3 10.8 10.7 10.6 10.3 10.4 10

11 Corporate and foreign bonds 149.1 137.8 141.4 143.4 136.4 128.7 135.3 134.1 132.3 128.7 129.0 11

12 Mortgages 263.6 263.7 280.7 274.8 272.0 266.5 271.8 270.8 269.5 266.5 268.8 12

13 Consumer credit 93.0 104.3 178.6 308.8 417.4 526.8 452.6 470.7 509.5 526.8 560.8 13

14 Other loans and advances (2) 93.9 99.1 164.3 167.0 171.0 173.1 173.9 175.7 173.8 173.1 174.0 14

15 Corporate equities 94.5 249.1 148.2 127.8 130.1 108.2 119.8 114.7 111.3 108.2 107.1 15

16 Mutual fund shares 38.4 36.1 37.6 38.8 37.2 35.2 36.9 36.6 36.1 35.2 41.3 16

17 Trade receivables 130.5 112.4 72.7 52.6 47.7 50.1 49.0 50.6 51.5 50.1 49.6 17

18 Taxes receivable 220.7 237.3 245.0 249.0 262.8 270.4 266.0 269.5 269.1 270.4 275.4 18

19 Miscellaneous assets 261.4 325.9 398.6 372.4 316.7 257.7 301.9 305.8 287.4 257.7 244.6 19

20 Total liabilities 9328.4 10797.1 12445.4 14235.8 15442.7 16688.5 15846.6 16066.3 16327.4 16688.5 17067.0 20

21 SDR allocations 7.7 7.5 55.4 54.4 54.2 54.3 54.7 53.6 54.5 54.3 52.9 21

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

23 Treasury currency 27.4 26.6 26.2 25.9 25.9 25.9 25.9 25.9 25.9 25.9 25.9 23

24 Credit market instruments 7359.8 8677.5 10212.6 11869.4 12937.2 14079.7 13338.4 13537.0 13766.5 14079.7 14434.5 24

25 Savings bonds 196.4 194.0 191.2 187.9 185.2 182.4 184.7 184.3 183.6 182.4 181.7 25

26 Treasury bills and other Treasury securities (3) 4314.7 5617.5 7043.0 8633.8 9756.8 10908.1 10158.3 10350.6 10588.8 10908.1 11249.3 26

27 Budget agency securities 23.1 23.3 23.5 24.2 25.3 24.9 24.4 24.5 24.4 24.9 24.6 27

28 Municipal securities 2825.6 2842.7 2954.9 3023.6 2970.0 2964.3 2970.9 2977.7 2969.7 2964.3 2978.9 28

29 Multifamily residential mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

30 Trade payables 791.7 853.4 836.9 883.1 932.1 981.8 952.0 964.8 977.6 981.8 996.6 30

31 Insurance reserves 45.4 46.4 47.5 48.4 49.7 50.0 49.8 50.2 50.1 50.0 50.1 31

32 Miscellaneous liabilities (4) 1094.2 1183.5 1261.6 1349.4 1438.3 1491.6 1420.6 1429.6 1447.6 1491.6 1501.8 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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F.116.b Private Pension Funds: Defined Benefit Plans

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Net acquisition of financial assets 63.1 -102.0 -31.3 63.3 21.8 -0.6 53.2 -37.0 56.1 -74.7 -195.3 1

 2 Checkable deposits and currency -1.1 -2.3 -2.6 2.7 0.9 -1.1 -1.8 -0.6 -0.6 -1.2 -1.6 2

 3 Time and savings deposits 3.2 -5.3 3.4 -0.2 3.7 -3.8 -6.4 -2.3 -2.4 -4.3 -5.9 3

 4 Money market fund shares 0.1 -14.8 0.4 -5.1 2.6 -4.6 -7.6 -2.7 -2.8 -5.2 -7.1 4

 5 Security RPs 0.2 -1.0 0.2 -0.2 0.3 -0.4 -0.6 -0.2 -0.2 -0.4 -0.6 5

 6 Credit market instruments 111.6 -141.4 4.1 71.7 23.0 -32.6 -57.1 -5.4 -36.0 -31.8 -79.4 6

 7 Open market paper 3.7 -7.7 3.2 -1.0 3.8 -4.2 -7.0 -2.5 -2.6 -4.7 -26.5 7

 8 Treasury securities 16.0 -28.8 12.7 7.4 17.5 26.0 33.5 24.7 25.0 20.9 12.7 8

 9 Agency- and GSE-backed securities 27.7 -47.0 -6.6 2.7 4.5 12.5 13.7 19.9 9.9 6.5 2.2 9

10 Corporate and foreign bonds 64.4 -52.1 -3.3 61.4 -3.3 -62.7 -91.1 -44.6 -64.9 -50.3 -60.3 10

11 Mortgages -0.2 -5.8 -2.0 1.2 0.6 -4.2 -6.3 -2.9 -3.5 -4.2 -7.6 11

12 Corporate equities -195.8 113.2 -41.8 -4.1 -21.7 45.2 142.8 -30.7 74.2 -5.5 -21.4 12

13 Mutual fund shares 21.5 13.6 -8.0 -10.8 -16.9 15.2 48.1 -10.3 25.0 -1.9 53.2 13

14 Miscellaneous assets 123.3 -64.0 13.1 9.5 29.8 -18.6 -64.2 15.2 -1.1 -24.3 -132.5 14

15 Unallocated insurance contracts (1) 8.1 10.4 -8.4 -13.2 0.7 -2.8 -9.6 4.7 -4.9 -1.2 -15.5 15

16 Contributions receivable 36.0 -16.8 -5.3 13.4 -2.0 -2.9 -7.6 1.6 -0.6 -4.9 -15.1 16

17 Other 79.2 -57.6 26.8 9.3 31.2 -13.0 -47.0 9.0 4.4 -18.2 -101.9 17

(1) Assets of private pension plans held at life insurance companies (e.g., GICs, variable annuities); series begins 1985:Q4.

F.116.c Private Pension Funds: Defined Contribution Plans (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Net acquisition of financial assets 260.9 -5.7 57.7 93.3 144.2 26.2 -93.7 126.3 32.8 39.4 4.4 1

 2 Checkable deposits and currency 0.7 -1.4 -0.3 -0.5 0.9 -0.2 -1.5 -0.4 -0.5 1.5 -1.2 2

 3 Time and savings deposits 9.7 1.7 0.0 -2.1 1.9 -2.5 -6.1 -0.5 -1.7 -1.9 -3.4 3

 4 Money market fund shares 27.6 -20.1 -7.3 -5.3 3.9 -5.7 -11.9 -1.8 -4.2 -4.9 -9.4 4

 5 Security RPs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.8 -0.8 0.0 5

 6 Credit market instruments 135.7 -69.1 6.2 53.1 29.4 -4.9 -32.0 21.7 -5.7 -3.5 -48.9 6

 7 Open market paper 29.7 -19.5 -4.6 -0.1 8.0 -8.9 -15.2 0.0 -12.7 -7.7 -26.3 7

 8 Treasury securities 30.7 -10.3 22.2 25.9 16.5 18.4 22.5 17.9 22.9 10.5 6.1 8

 9 Agency- and GSE-backed securities 40.0 -16.6 0.2 3.8 2.8 6.0 5.4 5.7 4.6 8.3 -1.7 9

10 Corporate and foreign bonds 32.9 -20.6 -11.2 22.0 1.7 -18.4 -41.2 -0.8 -18.8 -12.9 -23.4 10

11 Mortgages 2.3 -2.2 -0.4 1.6 0.4 -2.0 -3.4 -1.1 -1.7 -1.7 -3.6 11

12 Corporate equities -89.8 72.4 -53.6 29.3 6.0 32.8 61.2 8.1 36.6 25.3 88.0 12

13 Mutual fund shares 53.8 63.3 64.5 45.9 44.3 55.8 38.8 65.3 49.5 69.7 84.5 13

14 Miscellaneous assets 123.3 -52.7 48.2 -27.2 57.8 -49.1 -142.3 34.0 -41.9 -46.0 -105.2 14

15 Unallocated insurance contracts (2) 20.2 44.2 41.0 -32.3 7.3 -28.8 -41.5 1.1 -38.1 -36.8 -42.7 15

16 Contributions receivable 8.8 -8.7 -3.1 2.1 1.1 -1.5 -5.3 1.7 -0.8 -1.4 -8.8 16

17 Other 94.3 -88.2 10.3 3.0 49.3 -18.8 -95.6 31.2 -3.0 -7.8 -53.6 17

(1) Includes 401(k) type plans.

(2) Assets of private pension plans held at life insurance companies (e.g., GICs, variable annuities); series begins 1985:Q4.

F.225.i Individual Retirement Accounts (IRAs) (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Total held at: 275.7 247.5 198.6 88.7 20.1 164.4 -72.6 320.1 113.0 297.2 ND 1

 2 U.S.-chartered depository institutions 22.2 44.2 30.7 26.6 20.3 24.4 12.4 26.8 26.3 32.0 ND 2

 3 Credit unions 5.0 7.2 8.7 3.0 1.2 1.4 3.2 2.4 1.8 -1.8 ND 3

 4 Life insurance companies 17.9 28.9 -6.0 11.9 16.2 -0.1 -7.1 -1.7 -3.2 11.7 ND 4

 5 Money market mutual funds 44.0 48.0 -41.0 -24.0 9.0 7.0 -28.0 8.0 16.0 32.0 ND 5

 6 Mutual funds 122.2 -117.4 148.9 123.5 44.0 86.7 145.5 61.4 144.6 -4.6 ND 6

 7 Other self-directed accounts 64.4 236.5 57.3 -52.4 -70.6 45.0 -198.6 223.2 -72.5 227.9 ND 7

(1) Assets of the household sector (F.100). IRA assets are not included in pension fund reserves (table F.225), except for those at life insurance companies. Figures for depositories (lines 2 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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L.116.b Private Pension Funds: Defined Benefit Plans

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

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 2515.7 1894.9 2129.1 2389.6 2450.7 2547.4 2549.0 2516.5 2590.0 2547.4 2566.1 1

 2 Checkable deposits and currency 10.0 7.7 5.0 7.7 8.6 7.5 8.2 8.0 7.8 7.5 7.1 2

 3 Time and savings deposits 29.6 24.3 27.7 27.5 31.2 27.4 29.6 29.0 28.5 27.4 25.9 3

 4 Money market fund shares 54.3 39.5 39.8 34.7 37.3 32.7 35.4 34.7 34.0 32.7 30.9 4

 5 Security RPs 3.7 2.8 2.9 2.7 2.9 2.6 2.8 2.7 2.7 2.6 2.4 5

 6 Credit market instruments 680.8 539.4 543.5 615.1 638.2 605.6 623.9 622.6 613.5 605.6 585.7 6

 7 Open market paper 35.8 28.0 31.2 30.2 34.0 29.8 32.2 31.6 31.0 29.8 23.2 7

 8 Treasury securities 128.1 99.3 112.1 119.4 136.9 163.0 145.3 151.5 157.7 163.0 166.1 8

 9 Agency- and GSE-backed securities 169.8 122.8 116.3 119.0 123.5 136.0 126.9 131.9 134.4 136.0 136.5 9

10 Corporate and foreign bonds 322.3 270.2 266.9 328.3 325.0 262.2 302.2 291.0 274.8 262.2 247.2 10

11 Mortgages 24.8 19.0 17.0 18.2 18.8 14.6 17.2 16.5 15.6 14.6 12.7 11

12 Corporate equities 1000.2 726.1 863.8 1010.7 1017.1 1134.9 1115.8 1091.4 1153.6 1134.9 1178.4 12

13 Mutual fund shares 346.9 257.3 322.9 349.8 342.8 382.5 376.1 367.8 388.8 382.5 412.3 13

14 Miscellaneous assets 390.2 297.9 323.4 341.4 372.7 354.2 357.3 360.3 361.1 354.2 323.3 14

15 Unallocated insurance contracts (1) 72.0 54.0 58.1 53.5 55.6 53.0 53.8 54.2 54.1 53.0 51.3 15

16 Contributions receivable 71.9 55.1 49.8 63.1 61.1 58.2 59.2 59.6 59.5 58.2 54.5 16

17 Other 246.3 188.7 215.5 224.8 256.0 243.0 244.2 246.5 247.5 243.0 217.5 17

(1) Assets of private pension plans held at life insurance companies (e.g., GICs, variable annuities); series begins 1985:Q4.

L.116.c Private Pension Funds: Defined Contribution Plans (1)

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

 1 Total financial assets 3592.5 2673.2 3313.6 3753.5 3851.6 4088.6 4027.8 3990.4 4130.1 4088.6 4254.6 1

 2 Checkable deposits and currency 7.0 5.7 5.4 4.8 5.7 5.5 5.3 5.2 5.1 5.5 5.2 2

 3 Time and savings deposits 16.5 18.2 18.3 16.2 18.1 15.6 16.6 16.5 16.0 15.6 14.7 3

 4 Money market fund shares 74.2 54.1 46.8 41.6 45.5 39.8 42.5 42.1 41.0 39.8 37.5 4

 5 Security RPs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.0 0.0 5

 6 Credit market instruments 362.7 293.6 299.8 352.9 382.3 377.4 374.3 379.7 378.3 377.4 365.2 6

 7 Open market paper 86.0 66.5 61.9 61.8 69.9 61.0 66.1 66.1 62.9 61.0 54.4 7

 8 Treasury securities 58.3 48.1 70.3 96.2 112.7 131.1 118.3 122.8 128.5 131.1 132.6 8

 9 Agency- and GSE-backed securities 84.1 67.5 67.7 71.4 74.2 80.2 75.6 77.0 78.1 80.2 79.8 9

10 Corporate and foreign bonds 124.9 104.4 93.2 115.1 116.8 98.4 106.5 106.3 101.6 98.4 92.5 10

11 Mortgages 9.3 7.2 6.7 8.4 8.8 6.8 7.9 7.7 7.2 6.8 5.9 11

12 Corporate equities 935.4 654.3 783.3 927.6 931.9 1036.2 1012.8 992.3 1043.0 1036.2 1104.9 12

13 Mutual fund shares 1483.8 1104.9 1504.7 1734.9 1729.6 1924.1 1869.0 1844.3 1939.6 1924.1 2049.1 13

14 Miscellaneous assets 712.8 542.4 655.4 675.5 738.4 690.1 707.1 710.3 706.8 690.1 678.0 14

15 Unallocated insurance contracts (2) 298.5 224.9 330.7 345.7 358.2 330.1 352.1 347.1 344.5 330.1 333.6 15

16 Contributions receivable 37.6 28.9 25.8 27.9 29.0 27.6 27.7 28.1 27.9 27.6 25.4 16

17 Other 376.8 288.5 298.9 301.9 351.2 332.4 327.3 335.1 334.4 332.4 319.0 17

(1) Includes 401(k) type plans.

(2) Assets of private pension plans held at life insurance companies (e.g., GICs, variable annuities); series begins 1985:Q4.

L.225.i Individual Retirement Accounts (IRAs) (1)

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

 1 Total held at: 4748.0 3681.0 4363.0 4839.0 4872.0 5407.0 5229.0 5126.0 5347.0 5407.0 ND 1

 2 U.S.-chartered depository institutions 281.8 326.0 356.7 383.3 403.6 428.0 406.7 413.4 420.0 428.0 ND 2

 3 Credit unions 58.2 65.5 74.2 77.2 78.4 79.9 79.3 79.8 80.3 79.9 ND 3

 4 Life insurance companies 426.0 381.6 405.5 436.0 446.0 460.0 458.0 449.0 458.0 460.0 ND 4

 5 Money market mutual funds 223.0 271.0 230.0 206.0 215.0 222.0 208.0 210.0 214.0 222.0 ND 5

 6 Mutual funds 1998.0 1275.0 1667.0 1933.0 1896.0 2154.0 2081.0 2026.0 2135.0 2154.0 ND 6

 7 Other self-directed accounts 1760.9 1361.9 1629.6 1803.5 1832.9 2063.1 1996.0 1947.7 2039.7 2063.1 ND 7

(1) Assets of the household sector (L.100), shown at market value. IRA assets are not included in pension fund reserves (table L.225), except for those at life insurance companies. Figures for depositories

 (lines 2 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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S.1.a Total Economy - Current Account

Billions of dollars

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

 

 1 Gross value added 10664.4 11125.5 11875.6 12718.1 13619.5 14040.7 14294.0 13855.4 14475.6 15043.8 1

 (income approach)

 2 Less: Consumption of fixed capital 1305.0 1354.1 1432.8 1541.4 1660.7 1767.5 1854.1 1866.3 1873.4 1936.8 2

 3 Equals: Net value added 9359.4 9771.5 10442.8 11176.7 11958.8 12273.2 12439.9 11989.1 12602.1 13107.0 3

 4 Compensation of employees (paid) 6116.4 6388.3 6699.6 7071.5 7483.6 7863.0 8079.1 7807.2 7977.2 8303.2 4

 5 Wages and salaries 5002.9 5160.3 5416.8 5712.4 6076.8 6422.6 6556.6 6283.2 6411.7 6669.3 5

 6 Employers’ social contributions 1113.5 1228.0 1282.7 1359.1 1406.9 1440.4 1522.5 1524.0 1565.4 1633.9 6

 7 Taxes on production and imports less subsidies 721.4 757.7 817.0 869.3 935.5 972.6 985.7 963.5 998.0 1036.2 7

 8 Operating surplus, net 2521.6 2625.4 2926.3 3236.0 3539.8 3437.5 3375.1 3218.4 3627.0 3767.6 8

 9 Plus: Income receipts from the rest of the world 313.5 353.3 448.6 573.0 721.1 871.0 856.1 642.4 716.5 783.7 9

10 Less: Income payments from the rest of the world 264.4 284.6 357.4 475.9 648.6 747.7 686.9 498.9 507.2 531.8 10

11 Equals: Net national income/Balance of primary incomes, net 9408.5 9840.2 10534.1 11273.8 12031.2 12396.4 12609.1 12132.6 12811.4 13358.9 11

12 Operating surplus, net 2521.6 2625.4 2926.3 3236.0 3539.8 3437.5 3375.1 3218.4 3627.0 3767.6 12

13 Compensation of employees (received) 6110.8 6382.6 6693.4 7065.0 7477.0 7855.9 8068.3 7799.4 7970.0 8295.2 13

14 Wages and salaries 4997.3 5154.6 5410.7 5706.0 6070.1 6415.5 6545.9 6275.3 6404.6 6661.3 14

15 Employers’ social contributions 1113.5 1228.0 1282.7 1359.1 1406.9 1440.4 1522.5 1524.0 1565.4 1633.9 15

16 Taxes on production and imports, receivable 762.8 806.8 863.4 930.2 986.8 1027.2 1038.6 1023.2 1055.0 1097.9 16

17 Subsidies paid -41.4 -49.1 -46.4 -60.9 -51.4 -54.6 -52.9 -59.7 -57.0 -61.6 17

18 Property income (received) 3985.1 3940.7 4435.5 5123.8 6067.1 6802.7 6511.0 5047.8 5099.5 5270.6 18

19 Interest 2393.8 2234.9 2420.2 2963.9 3667.9 4272.7 3925.3 2844.7 2600.0 2551.8 19

20 Distributed income of corporations 1468.2 1543.6 1807.4 2122.4 2132.7 2249.5 2298.1 1923.8 2133.1 2318.0 20

21 Dividends 519.2 558.0 718.6 995.8 940.4 1088.0 1104.0 850.4 923.4 1042.5 21

22 Withdrawals from income of quasi-corporations 949.1 985.7 1088.8 1126.6 1192.3 1161.5 1194.1 1073.4 1209.6 1275.5 22

23 Reinvested earnings on U.S. direct investment abroad 111.6 148.2 192.5 20.7 248.4 261.6 265.5 262.8 349.4 383.2 23

24 Rents on land and natural resources 11.4 14.1 15.3 16.8 18.0 18.8 22.0 16.0 17.1 17.5 24

25 Less: Uses of property income (paid) 3930.4 3866.3 4338.1 5020.3 5988.0 6672.3 6331.0 4896.4 4883.1 5010.7 25

26 Interest 2497.0 2326.3 2527.9 3099.8 3845.8 4493.2 4151.9 3046.1 2785.1 2730.8 26

27 Distributed income of corporations 1420.2 1511.5 1745.1 1861.5 2054.8 2104.7 2117.6 1812.4 2013.1 2174.9 27

28 Dividends 471.1 525.9 656.3 735.0 862.5 943.2 923.5 738.6 803.5 899.3 28

29 Withdrawals from income of quasi-corporations 949.1 985.7 1088.8 1126.6 1192.3 1161.5 1194.1 1073.4 1209.6 1275.5 29

30 Reinvested earnings on foreign direct investment 1.8 14.5 49.8 42.1 69.5 55.5 39.4 21.9 67.7 87.5 30

31 Rents on land and natural resources 11.4 14.1 15.3 16.8 18.0 18.8 22.0 16.0 17.1 17.5 31

32 Net national income/Balance of primary incomes, net 9408.5 9840.2 10534.1 11273.8 12031.2 12396.4 12609.1 12132.6 12811.4 13358.9 32

33 Plus: Current taxes on income, wealth, etc. (received) 1239.3 1241.1 1349.8 1616.6 1820.6 1924.0 1735.5 1405.3 1559.5 1765.7 33

34 Less: Current taxes on income, wealth, etc. (paid) 1242.8 1244.1 1353.9 1621.0 1825.7 1934.1 1744.7 1413.9 1568.2 1777.0 34

35 Plus: Social benefits (received) 2003.2 2098.9 2230.3 2360.1 2510.0 2652.1 2834.6 3068.6 3225.0 3198.1 35

36 Less: Social contributions (paid) 2009.1 2105.1 2236.5 2366.7 2517.9 2660.7 2845.2 3079.7 3236.6 3210.8 36

37 Plus: Other current transfers (received) 442.7 472.6 485.4 513.7 516.4 560.5 596.1 703.4 760.4 726.4 37

38 Less: Other current transfers (paid) 506.8 544.1 572.1 617.8 604.9 668.0 714.7 820.7 886.6 851.9 38

39 Equals: Disposable income, net 9335.0 9759.5 10436.9 11158.9 11929.7 12270.2 12470.6 11995.6 12664.9 13209.3 39

40 Less: Final consumption expenditures 9079.1 9560.9 10131.0 10781.4 11394.3 11990.1 12416.5 12306.2 12767.7 13308.6 40

41 Equals: Net saving 256.0 198.6 305.9 377.5 535.4 280.2 54.1 -310.5 -102.8 -99.3 41

 Addendum:

42 Gross value added (line 1) 10664.4 11125.5 11875.6 12718.1 13619.5 14040.7 14294.0 13855.4 14475.6 15043.8 42

43 Plus statistical discrepancy (NIPA) -22.1 16.7 -22.4 -95.1 -242.3 -12.0 -2.4 118.3 23.3 31.9 43

44 Equals: GDP (NIPA, expenditure approach) 10642.3 11142.2 11853.3 12623.0 13377.2 14028.7 14291.5 13973.7 14498.9 15075.7 44
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S.2.a Selected Aggregates for Total Economy and Sectors 

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

 

 1 Gross value added 10664.4 11125.5 11875.6 12718.1 13619.5 14040.7 14294.0 13855.4 14475.6 15043.8 1

 2 Households and nonprofit institutions serving households 1298.0 1347.2 1423.8 1506.4 1602.8 1685.8 1805.7 1844.8 1851.2 1892.1 2

 3 Nonfinancial noncorporate business 1807.8 1901.2 2085.6 2220.2 2401.6 2511.6 2591.1 2369.2 2499.3 2601.0 3

 4 Nonfinancial corporate business 5307.7 5503.7 5877.5 6302.8 6740.3 6946.0 6991.4 6590.8 6952.4 7366.7 4

 5 Financial business 883.2 922.3 964.5 1085.8 1189.4 1118.6 1031.0 1111.2 1185.1 1168.1 5

 6 Federal government 418.4 449.2 480.5 504.1 528.9 555.3 585.3 617.8 650.5 662.7 6

 7 State and local government 949.3 1001.8 1043.7 1098.8 1156.4 1223.2 1289.4 1321.6 1337.1 1353.3 7

 8 Net saving 256.0 198.6 305.9 377.5 535.4 280.2 54.1 -310.5 -102.8 -99.3 8

 9 Households and nonprofit institutions serving households 282.2 304.7 303.2 148.2 257.9 242.5 587.3 513.2 566.7 489.4 9

10 Nonfinancial corporate business 171.3 175.1 248.0 338.6 295.4 226.3 237.5 324.3 533.1 572.5 10

11 Financial business 109.3 134.1 142.5 147.7 134.8 44.3 -85.0 194.5 195.1 178.2 11

12 Federal government -252.8 -376.4 -379.5 -283.0 -203.8 -245.2 -613.5 -1229.3 -1308.0 -1237.4 12

13 State and local government -54.1 -38.8 -8.4 25.9 51.0 12.2 -72.2 -113.2 -89.7 -102.0 13

 Net capital transfers

14 Households and nonprofit institutions serving households 29.1 13.1 1.4 -21.9 16.8 3.0 -8.6 -46.6 -40.9 -19.4 14

15 Nonfinancial noncorporate business 0.0 0.0 -5.0 -13.1 0.0 0.0 -3.3 -6.0 -7.8 -1.6 15

16 Nonfinancial corporate business -0.0 -0.1 -6.7 -15.5 -0.0 -0.0 -3.7 38.3 21.2 -5.7 16

17 Financial business 0.0 0.0 16.2 27.7 0.0 0.0 -60.5 -121.9 -41.5 -32.4 17

18 Federal government 23.9 40.6 38.9 59.8 42.7 56.3 133.5 203.3 145.2 133.2 18

19 State and local government -52.4 -51.5 -47.5 -49.8 -57.4 -58.9 -62.8 -66.5 -75.6 -72.5 19

20 Rest of the world -0.6 -2.2 2.8 12.8 -2.0 -0.4 5.4 -0.6 -0.7 -1.6 20

21 Gross fixed capital formation 1978.4 2069.1 2276.0 2514.3 2692.2 2722.6 2625.9 2210.4 2184.5 2298.5 21

22 Households and nonprofit institutions serving households 522.0 586.7 690.4 781.0 777.7 661.9 529.2 419.4 398.8 398.4 22

23 Nonfinancial noncorporate business 190.8 197.0 216.8 235.4 247.7 282.8 268.0 212.3 203.6 221.8 23

24 Nonfinancial corporate business 785.7 794.2 841.4 950.7 1079.1 1134.0 1136.5 907.3 921.8 1025.2 24

25 Financial business (nonresidential) 136.4 135.4 155.1 155.3 162.7 187.5 195.0 164.4 154.8 172.9 25

26 Federal government 90.1 96.2 103.3 110.5 120.7 127.4 148.4 156.6 167.3 160.5 26

27 State and local government 253.3 259.6 269.1 281.6 304.4 329.0 348.8 350.3 338.2 319.7 27

28 Consumption of fixed capital 1305.0 1354.1 1432.8 1541.4 1660.7 1767.5 1854.1 1866.3 1873.4 1936.8 28

29 Households and nonprofit institutions serving households 185.5 200.5 222.2 245.1 268.1 285.5 294.6 292.7 294.9 301.7 29

30 Nonfinancial noncorporate business 146.6 153.4 162.7 175.5 189.6 210.1 211.3 211.0 209.9 215.0 30

31 Nonfinancial corporate business 654.5 669.0 695.6 743.0 800.9 840.1 864.3 862.5 860.1 893.7 31

32 Financial business (nonresidential) 107.4 113.0 120.5 127.3 132.8 140.6 172.7 176.6 175.0 177.0 32

33 Federal government 89.2 90.8 94.8 100.4 106.6 112.6 120.0 124.8 130.2 137.0 33

34 State and local government 121.8 127.3 137.1 150.1 162.7 178.7 191.2 198.8 203.3 212.4 34

35 Change in inventories 12.0 16.4 64.9 50.0 60.0 29.1 -41.1 -154.2 58.4 36.6 35

36 Nonfinancial noncorporate business -1.5 0.9 10.5 2.6 0.0 0.9 -0.9 -8.9 -2.3 -2.5 36

37 Nonfinancial corporate business 13.5 15.5 54.4 47.4 59.9 28.2 -40.2 -145.3 60.7 39.1 37

38 Net lending (+) or net borrowing (-) (capital account) -430.0 -534.9 -599.4 -632.6 -558.2 -703.9 -671.1 -501.0 -472.9 -499.3 38

39 Households and nonprofit institutions serving households -75.0 -86.2 -157.6 -356.6 -258.2 -125.7 372.6 443.0 512.9 421.3 39

40 Nonfinancial noncorporate business -42.8 -44.5 -59.6 -49.5 -58.2 -73.6 -52.6 13.6 16.4 -2.7 40

41 Nonfinancial corporate business 29.8 37.3 57.1 99.7 -55.2 -94.0 -7.1 382.1 392.1 409.6 41

42 Financial business 80.3 111.7 91.7 92.0 104.9 -2.6 -46.7 328.6 256.8 214.7 42

43 Federal government -278.0 -422.2 -426.8 -352.4 -247.2 -315.0 -756.2 -1457.4 -1490.5 -1394.1 43

44 State and local government -144.4 -131.1 -104.2 -66.0 -44.3 -93.1 -181.1 -210.9 -160.5 -148.2 44

 Addendum:

45 Statistical discrepancy (NIPA) -22.1 16.7 -22.4 -95.1 -242.3 -12.0 -2.4 118.3 23.3 31.9 45

46 Rest of the world 452.1 518.2 621.8 727.7 800.5 715.9 673.6 382.7 449.5 467.5 46

47 Net lending (+) or net borrowing (-) (financial account) -668.4 -489.8 -411.4 -542.6 -693.1 -184.9 -1865.6 -419.3 -610.0 -389.4 47

48 Households and nonprofit institutions serving households -265.3 -97.4 30.9 -286.6 -405.2 437.7 354.0 447.1 968.9 1146.5 48

49 Nonfinancial noncorporate business -89.2 -93.8 -112.8 -112.3 -131.0 -122.2 -52.6 13.6 16.4 -2.7 49

50 Nonfinancial corporate business 52.8 74.1 166.0 -19.8 -138.4 -206.1 -943.0 562.0 127.7 65.1 50

51 Financial business 21.6 209.0 14.8 307.0 273.8 121.6 -282.7 42.4 -206.9 -123.4 51

52 Federal government -292.2 -476.9 -434.1 -380.4 -265.3 -344.0 -779.5 -1296.3 -1390.0 -1346.6 52

53 State and local government -96.2 -104.7 -76.3 -50.4 -27.0 -71.8 -161.7 -188.1 -126.0 -128.3 53

 Addendum:

54 Rest of the world 500.4 531.1 535.4 713.8 807.4 617.6 736.6 239.5 382.7 555.1 54

 Total other volume changes

55 Households and nonprofit institutions serving households 177.0 439.7 1223.3 368.5 205.2 883.8 7.6 493.3 693.5 563.1 55

56 Nonfinancial noncorporate business -30.3 104.5 121.8 -17.8 67.3 16.3 -300.1 -29.5 146.7 -6.5 56

57 Nonfinancial corporate business -174.0 184.2 309.3 333.9 678.7 805.4 -673.3 254.1 389.8 521.2 57

58 Financial business 70.0 3.0 -61.6 154.8 418.3 -81.1 -362.3 385.8 -518.5 -222.0 58

59 Federal government -4.9 -86.9 -30.3 -34.2 7.5 16.6 72.4 150.0 81.4 40.5 59

60 State and local government 37.5 11.4 -641.8 -1.8 -13.1 108.0 9.6 19.2 8.4 8.6 60

61 Rest of the world 28.0 -117.8 -81.7 -274.6 74.3 -252.0 -284.8 -444.9 -244.9 158.5 61

 Holding gains/losses

62 Households and nonprofit institutions serving households -1464.8 5179.0 5341.9 5768.2 4422.5 -330.9 -13301.3 980.9 2722.6 34.3 62

63 Nonfinancial noncorporate business 383.2 502.0 1121.2 1324.9 257.1 120.0 -1299.4 -1250.1 504.6 558.6 63

64 Nonfinancial corporate business 2986.1 -2346.2 -24.0 116.6 -1403.6 -116.7 4180.1 -5387.7 -1280.0 233.5 64

65 Financial business 340.6 -589.2 -217.6 -97.8 -843.4 1200.0 1964.3 -872.4 -245.9 250.2 65

66 Federal government 29.9 31.5 115.0 95.7 104.3 70.9 -7.2 -165.8 -8.8 16.8 66

67 State and local government 87.5 121.3 513.5 450.1 590.1 499.1 400.5 -114.7 207.5 415.9 67

68 Rest of the world -292.2 -333.3 -375.8 -695.9 -582.3 -795.3 1173.0 -852.5 14.5 985.7 68
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Billions of dollars; quarterly figures are seasonally adjusted annual rates

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

 

 Change in net worth

69 Households and nonprofit institutions serving households -1034.6 5910.3 6867.1 6306.8 4868.9 792.3 -12697.8 2034.0 4023.6 1106.1 69

70 Nonfinancial noncorporate business 352.9 606.5 1248.0 1320.1 324.5 136.3 -1596.1 -1273.6 659.0 553.7 70

71 Nonfinancial corporate business 2983.4 -1986.8 540.0 804.6 -429.4 915.0 3747.9 -4847.5 -378.4 1332.8 71

72 Financial business 519.9 -452.2 -153.0 177.0 -290.2 1163.2 1577.5 -170.2 -527.8 238.8 72

73 Federal government -251.7 -472.4 -333.7 -281.3 -134.6 -214.1 -681.7 -1448.4 -1380.6 -1313.3 73

74 State and local government 123.3 145.4 -89.1 524.1 685.5 678.2 400.7 -142.3 201.9 395.1 74

75 Rest of the world 187.9 67.2 164.4 -242.8 292.5 -331.3 1561.8 -914.7 219.1 1611.7 75
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Billions of dollars; quarterly figures are seasonally adjusted annual rates

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

 

 Current account

 1 Gross value added 1298.0 1347.2 1423.8 1506.4 1602.8 1685.8 1805.7 1844.8 1851.2 1892.1 1

 2 Less: Consumption of fixed capital 185.5 200.5 222.2 245.1 268.1 285.5 294.6 292.7 294.9 301.7 2

 3 Equals: Net value added 1112.5 1146.7 1201.6 1261.3 1334.7 1400.3 1511.1 1552.1 1556.3 1590.4 3

 4 Compensation paid by households and NPISHs 489.4 520.6 550.7 571.1 603.5 634.6 671.5 700.9 714.9 737.0 4

 5 Wages and salaries 412.6 435.2 456.7 473.4 502.0 532.0 562.3 579.2 591.4 611.7 5

 6 Employers’ social contributions 76.8 85.4 94.0 97.8 101.5 102.6 109.2 121.7 123.6 125.3 6

 7 Taxes on production and imports less subsidies 104.0 110.0 116.4 121.3 131.1 133.9 142.0 151.1 152.4 155.3 7

 8 Operating surplus, net 519.1 516.1 534.4 568.9 600.2 631.9 697.6 700.1 689.0 698.1 8

 9 Net national income/Balance of primary incomes, net 8340.7 8652.0 9149.5 9655.5 10366.8 10895.1 11320.8 10483.6 10840.9 11377.3 9

10 Operating surplus, net 519.1 516.1 534.4 568.9 600.2 631.9 697.6 700.1 689.0 698.1 10

11 Compensation of employees (received) 6110.8 6382.6 6693.4 7065.0 7477.0 7855.9 8068.3 7799.4 7970.0 8295.2 11

12 Wages and salaries 4997.3 5154.6 5410.7 5706.0 6070.1 6415.5 6545.9 6275.3 6404.6 6661.3 12

13 Employers’ social contributions 1113.5 1228.0 1282.7 1359.1 1406.9 1440.4 1522.5 1524.0 1565.4 1633.9 13

14 Property income (received) 2259.7 2299.6 2498.6 2669.9 3023.4 3219.9 3360.9 2701.1 2809.1 2961.9 14

15 Interest 912.9 890.9 861.5 988.3 1128.9 1266.5 1383.4 1094.5 1017.8 1010.0 15

16 Distributed income of corporations 1346.8 1408.8 1637.1 1681.6 1894.5 1953.4 1977.5 1606.6 1791.3 1951.8 16

17 Dividends 397.7 423.1 548.3 555.0 702.2 791.9 783.4 533.2 581.7 676.3 17

18 Withdrawals from income of quasi-corporations (1) 949.1 985.7 1088.8 1126.6 1192.3 1161.5 1194.1 1073.4 1209.6 1275.5 18

19 Less: Uses of property income (interest paid) 548.9 546.4 576.9 648.3 733.8 812.6 806.0 717.0 627.1 577.9 19

20 Net national income/Balance of primary incomes, net 8340.7 8652.0 9149.5 9655.5 10366.8 10895.1 11320.8 10483.6 10840.9 11377.3 20

21 Less: Current taxes on income, wealth, etc. (paid) 1050.4 1000.3 1047.8 1208.6 1352.4 1488.7 1435.7 1144.6 1194.8 1398.0 21

22 Plus: Social benefits (received) 1247.9 1316.0 1398.6 1482.7 1583.6 1687.9 1842.4 2100.5 2236.9 2274.3 22

23 Less: Social contributions (paid) 751.5 778.9 827.3 872.7 921.8 959.5 987.3 963.1 983.3 919.3 23

24 Plus: Other current transfers (received) 34.2 25.7 16.9 25.8 21.4 30.5 36.8 39.6 47.4 44.9 24

25 Less: Other current transfers (paid) 99.6 105.7 116.1 131.0 138.7 150.6 154.2 156.9 164.7 160.8 25

26 Equals: Disposable income, net 7721.4 8108.8 8573.8 8951.7 9558.9 10014.7 10622.9 10359.1 10782.4 11218.4 26

27 Less: Final consumption expenditures 7439.2 7804.1 8270.6 8803.5 9301.0 9772.3 10035.5 9845.9 10215.7 10729.0 27

28 Equals: Net saving 282.2 304.7 303.2 148.2 257.9 242.5 587.3 513.2 566.7 489.4 28

 Capital account

29 Net saving less capital transfers 253.2 291.5 301.9 170.1 241.1 239.4 595.9 559.8 607.6 508.8 29

30 Net saving 282.2 304.7 303.2 148.2 257.9 242.5 587.3 513.2 566.7 489.4 30

31 Less: Capital transfers paid (net) 29.1 13.1 1.4 -21.9 16.8 3.0 -8.6 -46.6 -40.9 -19.4 31

32 Capital formation, net 328.1 377.8 459.5 526.7 499.3 365.1 223.4 116.8 94.7 87.4 32

33 Gross fixed capital formation, excluding consumer durables 522.0 586.7 690.4 781.0 777.7 661.9 529.2 419.4 398.8 398.4 33

34 Residential 439.3 498.9 594.4 681.9 670.1 541.7 397.2 295.5 288.9 286.4 34

35 Nonresidential (nonprofit organizations) 82.6 87.8 95.9 99.1 107.5 120.2 132.0 123.9 109.9 112.0 35

36 Less: Consumption of fixed capital 185.5 200.5 222.2 245.1 268.1 285.5 294.6 292.7 294.9 301.7 36

37 Acquisition of nonproduced nonfinancial assets -8.3 -8.5 -8.7 -9.2 -10.2 -11.3 -11.2 -9.9 -9.2 -9.3 37

38 Net lending (+) or borrowing (-), capital account (lines 29-32) -75.0 -86.2 -157.6 -356.6 -258.2 -125.7 372.6 443.0 512.9 421.3 38

 Financial account

39 Net lending (+) or borrowing (-), capital account (line 38) -75.0 -86.2 -157.6 -356.6 -258.2 -125.7 372.6 443.0 512.9 421.3 39

40 Net acquisition of financial assets 517.8 935.5 1184.5 876.1 805.9 1340.3 193.4 267.8 725.6 919.2 40

41 Currency and deposits 295.4 265.6 394.8 372.8 446.5 403.7 411.2 199.2 209.9 665.0 41

42 Currency and transferable deposits -16.0 -31.2 -58.2 -113.9 -40.0 -73.7 245.0 28.6 55.7 316.6 42

43 Time and savings deposits 310.2 294.6 447.6 484.3 481.3 462.0 189.9 177.0 152.7 350.3 43

44 Foreign deposits 1.3 2.2 5.4 2.4 5.2 15.4 -23.7 -6.4 1.6 -1.9 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 18.3 30.2 234.0 210.3 109.5 383.3 393.4 60.6 88.6 -259.4 46

47 Open market paper -5.9 -4.9 6.4 14.7 19.0 -10.2 -101.3 28.7 -2.9 -2.6 47

48 U.S. savings bonds 4.5 8.9 0.6 0.7 -2.7 -6.0 -2.4 -2.8 -3.3 -2.7 48

49 Treasury securities -144.3 10.7 -7.1 -102.6 -92.2 -75.0 253.8 502.5 418.7 -254.2 49

50 Agency- and GSE-backed securities (2) -132.8 128.0 94.2 171.4 -7.9 308.8 276.6 -633.6 -44.7 12.6 50

51 Municipal securities 83.6 15.7 118.4 78.1 35.0 38.0 47.9 107.1 44.3 -65.6 51

52 Corporate and foreign bonds 213.3 -128.3 21.5 47.9 158.3 127.7 -81.1 58.7 -323.5 53.1 52

53 Loans -33.6 67.3 116.1 7.8 63.5 206.9 -110.2 -89.1 13.9 44.6 53

54 Short term -41.5 63.0 105.8 -0.3 80.8 219.2 -111.6 -79.4 25.1 55.3 54

55 Long term (mortgages) 7.9 4.3 10.3 8.1 -17.3 -12.3 1.4 -9.7 -11.2 -10.8 55
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Billions of dollars; quarterly figures are seasonally adjusted annual rates

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

 

56 Equity and investment fund shares -144.3 151.9 -34.1 -184.5 -225.8 -305.2 -671.5 23.2 28.6 72.5 56

57 Corporate equities -161.8 -98.8 -271.8 -414.4 -638.3 -805.5 -576.8 -21.2 -170.8 -122.8 57

58 Mutual fund shares 79.4 263.9 169.9 179.9 177.1 242.0 -45.8 344.1 235.3 192.5 58

59 Money market fund shares -32.7 -113.9 -56.1 44.4 174.8 239.9 235.1 -268.6 -183.5 10.7 59

60 Equity in noncorporate business -29.2 100.7 123.8 5.6 60.6 18.4 -284.0 -32.3 143.6 -8.6 60

61 Equity investment under Public-Private Inv. Program (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.2 4.0 0.7 61

62 Insurance, pension and standardized guarantee schemes 382.0 420.5 473.7 469.8 412.3 651.6 170.5 73.8 384.6 396.6 62

63 Net equity in life insurance and pension funds 334.8 364.1 421.2 411.7 374.8 585.5 115.4 53.9 344.2 350.5 63

64 Net equity in life insurance reserves 60.1 66.8 33.1 16.1 57.8 18.0 61.7 23.7 9.0 86.9 64

65 Net equity in pension fund reserves 274.7 297.3 388.1 395.6 317.1 567.5 53.6 30.2 335.2 263.6 65

66 Prepayments of premiums and reserves against claims 47.1 56.4 52.5 58.0 37.4 66.1 55.1 19.9 40.4 46.1 66

67 Net equity in reserves of property-casualty insurance companies 21.6 22.9 23.6 25.6 4.6 6.7 11.0 -5.1 3.2 13.2 67

68 Net equity in other life insurance company reserves 10.2 13.9 11.4 9.5 14.8 15.5 17.6 8.4 14.8 14.4 68

69 Net equity in Retiree Health Care Funds 15.4 19.6 17.4 23.0 18.1 43.9 26.5 16.6 22.5 18.5 69

70 Net incurrence of liabilities 783.1 1032.9 1153.6 1162.8 1211.2 902.6 -160.6 -179.3 -243.2 -227.3 70

71 Debt securities (municipals) 12.6 13.8 14.7 15.1 16.4 21.1 9.3 5.9 -2.2 -7.8 71

72 Loans 750.5 1013.3 1120.9 1133.6 1180.7 865.8 -195.2 -196.4 -265.1 -233.1 72

73 Short term 33.6 135.3 179.4 77.1 173.0 169.4 -130.2 -39.9 112.1 2.1 73

74 Consumer credit 105.2 105.9 117.2 100.4 96.6 141.9 19.6 -111.5 -17.9 93.4 74

75 Depository institution loans n.e.c. -23.6 -3.4 -19.6 8.2 12.0 -9.1 4.6 33.0 52.4 -53.9 75

76 Other loans and advances 0.2 -1.5 0.3 0.0 4.8 3.2 6.2 0.5 2.4 1.9 76

77 Security credit -48.2 34.3 81.5 -31.6 59.7 33.4 -160.7 38.1 75.2 -39.3 77

78 Long term (mortgages) 716.9 878.0 941.5 1056.5 1007.7 696.4 -65.0 -156.4 -377.2 -235.3 78

79 Insurance, pension and standardized guarantee schemes 0.9 0.9 1.6 1.0 0.5 1.0 3.2 -4.9 2.7 -0.4 79

80 Other accounts payable (trade debt) 19.1 4.8 16.5 13.0 13.6 14.6 22.2 16.0 21.4 14.0 80

 Addendum:

81 Net lending (+) or borrowing (-), financial account (lines 40-70) -265.3 -97.4 30.9 -286.6 -405.2 437.7 354.0 447.1 968.9 1146.5 81

 Other changes in volume account

82 Total other volume changes 177.0 439.7 1223.3 368.5 205.2 883.8 7.6 493.3 693.5 563.1 82

83 Net investment in consumer durable goods 243.2 242.6 249.7 249.5 238.8 232.8 134.8 57.7 93.1 133.4 83

84 Disaster losses 0.0 0.0 12.0 50.4 0.0 0.0 8.3 0.0 0.0 0.0 84

85 Other volume changes 124.1 208.3 773.1 -1.3 113.4 87.7 -116.9 431.5 144.3 -295.5 85

86 Less: Statistical discrepancy (lines 38-[40-70]) (4)) 190.3 11.2 -188.5 -69.9 147.0 -563.3 18.6 -4.1 -456.0 -725.1 86

 Revaluation account

87 Nonfinancial assets 997.8 1257.0 2342.2 2851.6 345.5 -1919.8 -3750.0 -1234.8 -476.1 -255.0 87

88 Real estate 1072.2 1338.8 2375.2 2892.9 381.3 -1867.6 -3717.5 -1190.8 -386.8 -271.8 88

89 Consumer durable goods -77.9 -85.2 -37.6 -45.6 -43.2 -58.1 -36.3 -42.9 -90.6 14.7 89

90 Equipment and software 3.6 3.4 4.6 4.4 7.3 5.9 3.8 -1.1 1.3 2.2 90

91 Financial assets -2462.6 3922.0 2999.6 2916.6 4077.1 1588.9 -9551.2 2215.7 3198.6 289.3 91

92 Corporate equities -1500.6 1723.3 1000.6 1076.6 2790.6 922.2 -3916.8 1585.1 1496.4 145.2 92

93 Mutual fund shares -474.5 427.3 327.1 45.2 381.9 431.9 -1509.3 472.7 251.7 -357.3 93

94 Equity in noncorporate business 380.9 513.8 1122.4 1315.0 261.9 119.7 -1314.3 -1238.7 517.0 561.3 94

95 Equity investment under Public-Private Inv. Program 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -0.3 -1.0 -0.2 95

96 Insurance, pension and standardized guarantee schemes -868.4 1257.7 549.5 479.8 642.7 115.1 -2810.8 1397.0 934.5 -59.8 96

97 Changes in net worth due to nominal holding gains/losses -1464.8 5179.0 5341.9 5768.2 4422.5 -330.9 -13301.3 980.9 2722.6 34.3 97

 Changes in balance sheet account

98 Change in net worth (lines 32+38+82+97) -1034.6 5910.3 6867.1 6306.8 4868.9 792.3 -12697.8 2034.0 4023.6 1106.1 98

 Balance sheet account (end of period)

99 Total assets 50875.6 57848.8 65889.5 73358.0 79417.4 81114.9 68261.5 70072.8 73858.5 74742.7 99

100 Nonfinancial assets 19976.7 21848.8 24882.0 28451.7 29542.2 28216.9 24825.6 23769.0 23472.8 23432.6 100

101 Real estate 16278.0 17976.3 20779.7 24130.0 25005.3 23486.6 19975.2 18892.7 18583.8 18382.9 101

102 Consumer durable goods 3524.7 3682.0 3894.1 4098.0 4293.6 4468.3 4566.8 4581.6 4584.1 4732.2 102

103 Equipment and software 174.0 190.6 208.1 223.7 243.2 262.0 283.6 294.8 304.9 317.5 103
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Billions of dollars; quarterly figures are seasonally adjusted annual rates

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

 

104 Financial assets 30898.8 35999.9 41007.5 44906.3 49875.3 52898.0 43436.0 46303.7 50385.8 51310.1 104

105 Currency and deposits 4157.3 4481.5 4901.8 5274.5 5744.5 6148.2 6524.4 6709.1 6873.9 7538.9 105

106 Currency and transferable deposits 464.1 458.0 399.8 285.8 239.6 154.9 364.9 393.5 437.9 754.5 106

107 Foreign deposits 49.9 52.1 57.5 59.9 65.2 80.5 56.9 50.5 52.1 50.1 107

108 Time and savings deposits 3643.3 3971.5 4444.5 4928.8 5439.8 5912.7 6102.6 6265.1 6384.0 6734.3 108

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 2511.8 2726.9 3758.9 4078.4 4261.1 4738.0 5063.2 5520.2 5811.7 5298.7 110

111 Open market paper 82.2 77.3 83.7 98.4 117.5 107.3 6.0 34.6 31.7 29.1 111

112 U.S. savings bonds 194.9 203.8 204.4 205.1 202.4 196.4 194.0 191.2 187.9 185.2 112

113 Treasury securities 68.3 203.4 263.2 234.9 146.6 -13.4 75.4 714.7 1077.3 630.6 113

114 Agency- and GSE-backed securities (2) 256.1 385.4 417.9 585.9 635.6 874.3 1097.8 435.7 389.9 372.8 114

115 Municipal securities 671.5 687.2 1522.7 1600.8 1636.1 1674.1 1722.0 1829.1 1873.3 1807.7 115

116 Corporate and foreign bonds 1238.8 1169.8 1267.1 1353.3 1523.0 1899.3 1968.1 2314.9 2251.6 2273.3 116

117 Loans 532.1 599.4 715.5 723.4 786.9 993.8 883.5 796.8 810.6 855.2 117

118 Short term 415.5 478.5 584.3 584.0 664.7 884.0 772.4 695.4 720.4 775.8 118

119 Long term (mortgages) 116.6 120.9 131.3 139.4 122.1 109.8 111.1 101.4 90.2 79.5 119

120 Equity and investment fund shares 14142.0 16958.2 19374.2 21626.5 24824.3 25992.9 18581.0 19423.0 21715.7 22106.8 120

121 Corporate equities 5163.5 6788.0 7516.9 8179.0 10331.3 10448.0 5954.4 7518.3 8843.9 8866.3 121

122 Mutual fund shares 2222.9 2914.1 3411.2 3636.2 4195.2 4869.1 3313.9 4130.7 4617.8 4453.0 122

123 Money market fund shares 1068.4 954.5 898.4 942.7 1106.8 1346.7 1581.8 1313.2 1129.7 1109.9 123

124 Equity in noncorporate business 5687.1 6301.6 7547.8 8868.5 9191.0 9329.1 7730.8 6459.8 7120.5 7673.2 124

125 Equity investment under Public-Private Inv. Program (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.9 3.8 4.4 125

126 Insurance, pension and standardized guarantee schemes 9555.7 11233.9 12257.0 13203.5 14258.4 15025.1 12383.8 13854.6 15173.7 15510.5 126

127 Net equity in life insurance and pension funds 9110.7 10732.6 11703.3 12594.8 13612.3 14312.9 11617.5 13068.4 14347.0 14637.7 127

128 Net equity in life insurance reserves 920.9 1013.2 1060.4 1082.6 1055.2 1076.8 1049.8 1109.2 1137.2 1203.6 128

129 Net equity in pension fund reserves 8189.8 9719.4 10642.9 11512.2 12557.2 13236.1 10567.7 11959.2 13209.9 13434.1 129

130 Prepayments of premiums and reserves against claims 444.9 501.3 553.8 608.7 646.1 712.2 766.3 786.3 826.7 872.8 130

131 Net equity in reserves of property-casualty insurance companies 243.9 266.8 290.4 316.0 320.5 327.3 337.3 332.2 335.4 348.6 131

132 Net equity in other life insurance company reserves 185.6 199.5 211.0 217.3 232.1 247.6 265.2 273.6 288.4 302.8 132

133 Net equity in Retiree Health Care Funds 15.4 35.0 52.4 75.4 93.5 137.3 163.8 180.4 202.9 221.4 133

134 Total liabilities and net worth 50875.6 57848.8 65889.5 73358.0 79417.4 81114.9 68261.5 70072.8 73858.5 74742.7 134

135 Liabilities 8759.2 9822.2 10995.8 12157.5 13348.1 14253.2 14097.6 13874.8 13636.9 13415.0 135

136 Debt securities (municipals) 163.9 177.7 197.6 212.7 229.1 250.2 259.5 265.4 263.2 255.5 136

137 Loans 8423.4 9466.8 10602.5 11736.2 12896.3 13764.7 13574.4 13334.6 13074.9 12847.1 137

138 Short term 2244.0 2399.7 2579.1 2656.2 2808.6 2980.6 2850.4 2767.0 2997.5 3005.0 138

139 Consumer credit 1997.0 2102.9 2220.1 2320.6 2361.8 2506.3 2525.9 2420.2 2522.2 2615.7 139

140 Depository institution loans n.e.c. -21.4 -4.4 -24.0 -15.8 30.9 21.8 26.4 10.2 61.0 12.4 140

141 Other loans and advances 120.2 118.7 119.0 119.0 123.8 127.0 133.2 133.7 136.1 138.1 141

142 Security credit 148.2 182.5 264.0 232.4 292.1 325.5 164.8 203.0 278.2 238.9 142

143 Long term (mortgages) 6179.4 7067.1 8023.4 9079.9 10087.6 10784.1 10724.0 10567.6 10077.3 9842.1 143

144 Insurance, pension and standardized guarantee schemes 20.0 20.9 22.5 22.4 22.8 23.9 27.0 22.1 24.7 24.3 144

145 Other accounts payable (trade debt) 152.0 156.8 173.3 186.3 199.9 214.5 236.7 252.7 274.1 288.2 145

146 Net worth 42116.3 48026.6 54893.7 61200.5 66069.3 66861.7 54163.9 56197.9 60221.6 61327.7 146

(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) 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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Billions of dollars; quarterly figures are seasonally adjusted annual rates

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

 

 Current account

 1 Gross value added 1807.8 1901.2 2085.6 2220.2 2401.6 2511.6 2591.1 2369.2 2499.3 2601.0 1

 2 Less: Consumption of fixed capital 146.6 153.4 162.7 175.5 189.6 210.1 211.3 211.0 209.9 215.0 2

 3 Equals: Net value added 1661.2 1747.8 1922.9 2044.7 2212.0 2301.5 2379.9 2158.2 2289.4 2386.0 3

 4 Compensation of employees (paid) 485.1 523.1 573.6 626.3 693.1 758.1 776.4 739.7 754.1 787.4 4

 5 Wages and salaries 409.4 439.1 481.8 525.5 584.9 644.4 655.5 621.8 633.5 660.6 5

 6 Employers’ social contributions 75.7 84.0 91.8 100.8 108.2 113.8 120.9 117.9 120.7 126.8 6

 7 Taxes on production and imports less subsidies 117.9 123.6 139.5 143.5 160.7 177.7 177.4 164.4 172.4 173.6 7

 8 Operating surplus, net 1058.2 1101.1 1209.8 1274.9 1358.3 1365.7 1426.1 1254.0 1362.9 1425.0 8

 9 Net national income/Balance of primary incomes, net 15.4 19.8 19.9 21.9 22.5 20.7 16.1 22.1 24.3 24.6 9

10 Operating surplus, net 1058.2 1101.1 1209.8 1274.9 1358.3 1365.7 1426.1 1254.0 1362.9 1425.0 10

11 Property income (interest received) 16.8 15.7 16.7 15.8 15.3 16.7 19.6 12.9 11.8 10.2 11

12 Less: Uses of property income (paid) 1059.6 1096.9 1206.6 1268.8 1351.1 1361.6 1429.6 1244.8 1350.4 1410.6 12

13 Interest 165.5 162.5 171.8 200.2 228.7 259.1 270.4 241.3 232.6 225.0 13

14 Withdrawals from income of quasi-corporations (1) 894.1 934.4 1034.7 1068.6 1122.4 1102.5 1159.0 1003.5 1117.7 1185.4 14

15 Reinvested earnings on foreign direct investment 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.0 0.1 0.2 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 15.4 19.8 19.9 21.9 22.5 20.7 16.1 22.1 24.3 24.6 17

18 Less: Other current transfers (paid) 15.4 19.8 19.9 21.9 22.5 20.7 16.1 22.1 24.3 24.6 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 5.0 13.1 0.0 0.0 3.3 6.0 7.8 1.6 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 -5.0 -13.1 0.0 0.0 -3.3 -6.0 -7.8 -1.6 23

24 Capital formation, net 42.8 44.5 64.6 62.5 58.2 73.6 55.9 -7.6 -8.6 4.3 24

25 Gross fixed capital formation 190.8 197.0 216.8 235.4 247.7 282.8 268.0 212.3 203.6 221.8 25

26 Nonresidential 125.7 124.0 136.8 149.0 162.6 202.2 198.4 158.0 155.6 173.3 26

27 Residential 65.1 73.0 80.0 86.4 85.0 80.5 69.6 54.3 48.0 48.6 27

28 Less: Consumption of fixed capital 146.6 153.4 162.7 175.5 189.6 210.1 211.3 211.0 209.9 215.0 28

29 Change in private inventories -1.5 0.9 10.5 2.6 0.0 0.9 -0.9 -8.9 -2.3 -2.5 29

30 Net lending (+) or borrowing (-), capital account (lines 21-24) -42.8 -44.5 -59.6 -49.5 -58.2 -73.6 -52.6 13.6 16.4 -2.7 30

 Financial account

31 Net lending (+) or borrowing (-) (line 30) -42.8 -44.5 -59.6 -49.5 -58.2 -73.6 -52.6 13.6 16.4 -2.7 31

32 Net acquisition of financial assets 78.6 80.4 370.8 437.3 519.8 479.4 97.3 -100.8 106.9 41.0 32

33 Currency and deposits 17.2 50.7 93.7 100.1 94.9 81.8 2.5 15.6 -15.1 10.1 33

34 Currency and transferable deposits 2.7 6.1 106.9 76.6 74.6 66.9 3.8 20.4 -18.0 6.5 34

35 Time and savings deposits 14.5 44.7 -13.2 23.5 20.3 14.9 -1.2 -4.8 2.9 3.6 35

36 Debt securities -0.1 1.4 7.0 6.1 1.5 2.5 -7.9 -5.5 2.5 0.5 36

37 Treasury securities 0.0 2.1 5.3 6.0 0.2 3.0 -7.5 -5.7 1.9 0.5 37

38 Municipal securities -0.1 -0.7 1.7 0.1 1.3 -0.5 -0.4 0.2 0.5 0.1 38

39 Loans -0.6 0.1 4.6 5.3 -1.5 7.4 -3.0 -1.2 4.2 0.5 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) -0.6 0.1 4.6 5.3 -1.5 7.4 -3.0 -1.2 4.2 0.5 41

42 Equity and investment fund shares 2.4 2.9 3.0 2.4 3.3 2.9 2.2 -1.7 3.5 1.1 42

43 Money market mutual fund shares 2.3 2.3 2.9 2.4 3.2 2.2 1.0 -1.7 3.1 0.8 43

44 Equity in government-sponsored enterprises (2) 0.1 0.6 0.0 -0.1 0.2 0.7 1.2 -0.0 0.4 0.3 44

45 Insurance, pension and standardized guarantee schemes (3) 4.5 4.7 4.6 5.5 4.4 3.7 3.4 0.9 0.1 6.3 45

46 Other accounts receivable 55.4 20.6 258.1 317.8 417.2 381.1 100.0 -109.0 111.8 22.5 46

47 Trade receivables 18.9 -25.1 26.6 66.6 40.0 54.7 -3.0 -26.3 37.0 5.4 47

48 Other (miscellaneous assets) 36.5 45.8 231.4 251.2 377.2 326.4 102.9 -82.7 74.7 17.1 48

49 Net incurrence of liabilities 167.8 174.3 483.6 549.6 650.8 601.6 149.9 -114.4 90.5 43.7 49

50 Loans 151.8 73.8 254.7 341.6 415.2 461.6 318.8 -120.0 -29.6 13.9 50

51 Short term 26.3 9.7 34.1 164.2 132.0 154.5 131.9 -107.3 -15.7 57.0 51

52 Depository institution loans n.e.c. 23.7 10.3 32.9 157.9 115.3 140.8 119.6 -102.0 -20.4 56.5 52

53 Other loans and advances 2.6 -0.6 1.2 6.3 16.8 13.7 12.3 -5.3 4.7 0.4 53

54 Long term (mortgages) 125.5 64.1 220.6 177.5 283.2 307.1 186.9 -12.7 -13.9 -43.0 54
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Billions of dollars; quarterly figures are seasonally adjusted annual rates

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

 

55 Equity and investment fund shares -29.6 103.8 128.1 6.9 67.6 16.3 -295.6 -28.5 143.3 -6.5 55

56 Equity in noncorporate business -29.9 104.1 128.0 6.8 67.4 16.0 -295.5 -28.6 143.2 -6.6 56

57 Foreign direct investment in the United States 0.2 -0.4 0.1 0.1 0.2 0.3 -0.2 0.1 0.1 0.2 57

58 Other accounts payable 45.6 -3.3 100.8 201.0 168.0 123.7 126.7 34.1 -23.2 36.3 58

59 Trade payables 25.4 -26.2 23.7 49.7 14.4 26.0 5.7 7.7 28.4 2.8 59

60 Taxes payable 1.5 -0.5 8.4 8.7 9.0 3.8 6.7 -6.3 -0.7 1.1 60

61 Other (miscellaneous liabilities) 18.7 23.4 68.8 142.7 144.6 93.9 114.3 32.6 -50.9 32.3 61

 Addendum:

62 Net lending (+) or borrowing (-), financial account (lines 32-49) -89.2 -93.8 -112.8 -112.3 -131.0 -122.2 -52.6 13.6 16.4 -2.7 62

 Other changes in volume account

63 Total other volume changes -30.3 104.5 121.8 -17.8 67.3 16.3 -300.1 -29.5 146.7 -6.5 63

64 Disaster losses 0.0 0.0 6.6 24.5 0.0 0.0 4.4 0.0 0.0 0.0 64

65 Other volume changes -30.3 104.5 115.2 -42.3 67.3 16.3 -304.4 -29.5 146.7 -6.5 65

 Revaluation account

66 Nonfinancial assets 383.2 502.0 1121.2 1324.9 257.1 120.0 -1299.4 -1250.1 504.6 558.6 66

67 Real estate 407.8 527.1 1155.5 1354.5 288.1 132.1 -1310.3 -1236.4 468.8 516.1 67

68 Residential 351.8 382.4 704.3 986.7 -48.4 -388.4 -936.9 -399.2 150.4 206.6 68

69 Nonresidential 55.9 144.6 451.2 367.8 336.5 520.5 -373.4 -837.2 318.4 309.5 69

70 Equipment and software -34.1 -37.0 -33.6 -37.9 -35.3 -35.3 17.0 -4.8 -0.0 11.0 70

71 Residential -0.5 -1.3 -0.4 1.3 1.2 -0.4 0.2 -2.9 -2.5 0.9 71

72 Nonresidential -33.6 -35.7 -33.2 -39.1 -36.5 -34.9 16.7 -1.9 2.4 10.1 72

73 Inventories 9.5 12.0 -0.8 8.2 4.3 23.1 -6.0 -8.9 35.8 31.5 73

74 Changes in net worth due to nominal holding gains/losses 383.2 502.0 1121.2 1324.9 257.1 120.0 -1299.4 -1250.1 504.6 558.6 74

 Changes in balance sheet account

75 Change in net worth (lines 24+30+63+74) 352.9 606.5 1248.0 1320.1 324.5 136.3 -1596.1 -1273.6 659.0 553.7 75

 Balance sheet account (end of period)

76 Total assets 8894.4 9570.6 11173.9 13036.9 13944.9 14666.5 13515.9 12157.3 12760.2 13364.4 76

77 Nonfinancial assets 7186.2 7782.0 9014.4 10440.3 10828.4 11070.6 9822.7 8565.0 9061.0 9623.8 77

78 Real estate 6493.4 7058.2 8251.2 9630.3 9970.7 10158.6 8883.2 7650.5 8105.4 8610.7 78

79 Residential (4) 4110.0 4519.5 5248.8 6246.6 6225.4 5858.0 4927.5 4524.8 4664.9 4861.6 79

80 Nonresidential 2383.4 2538.7 3002.4 3383.8 3745.3 4300.5 3955.7 3125.6 3440.5 3749.0 80

81 Equipment and software 510.1 528.2 557.9 593.7 637.1 667.4 701.7 694.6 702.2 730.8 81

82 Residential 37.6 37.9 39.5 42.9 46.2 47.4 48.7 46.1 44.3 46.1 82

83 Nonresidential 472.4 490.3 518.4 550.8 591.0 619.9 653.0 648.6 657.9 684.7 83

84 Inventories 182.7 195.6 205.4 216.2 220.6 244.6 237.7 219.9 253.4 282.4 84

85 Financial assets 1708.2 1788.6 2159.4 2596.7 3116.5 3595.9 3693.2 3592.3 3699.3 3740.6 85

86 Currency and deposits 453.7 504.4 598.1 698.2 793.2 875.0 877.5 893.1 878.0 888.2 86

87 Currency and transferable deposits 184.5 190.6 297.5 374.1 448.8 515.6 519.4 539.8 521.8 528.4 87

88 Time and savings deposits 269.2 313.8 300.6 324.1 344.4 359.3 358.1 353.3 356.2 359.8 88

89 Debt securities 46.2 47.6 54.5 60.6 62.1 64.6 56.7 51.2 53.7 54.2 89

90 Treasury securities 42.8 44.9 50.2 56.2 56.3 59.3 51.8 46.1 48.1 48.5 90

91 Municipal securities 3.4 2.7 4.3 4.4 5.8 5.3 4.9 5.1 5.6 5.7 91

92 Loans 26.2 26.3 30.8 36.2 34.6 42.1 39.1 37.9 42.1 42.5 92

93 Short term (consumer credit) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 93

94 Long term (mortgages) 26.2 26.3 30.8 36.2 34.6 42.1 39.1 37.9 42.1 42.5 94

95 Equity and investment fund shares 64.9 67.8 70.7 73.1 76.5 79.3 81.7 80.0 83.5 84.7 95

96 Money market mutual fund shares 61.3 63.6 66.5 69.0 72.2 74.3 75.4 73.7 76.8 77.7 96

97 Equity in government-sponsored enterprises (2) 3.6 4.2 4.2 4.1 4.3 5.0 6.4 6.3 6.7 7.0 97

98 Insurance, pension and standardized guarantee schemes (3) 84.5 89.2 93.7 99.2 103.6 107.3 111.5 112.4 112.6 119.0 98

99 Other accounts receivable 1032.8 1053.4 1311.5 1629.3 2046.5 2427.6 2526.6 2417.6 2529.4 2551.9 99

100 Trade receivables 362.8 337.7 364.3 430.9 470.9 525.6 522.7 496.3 533.4 538.8 100

101 Other (miscellaneous assets) 670.0 715.7 947.1 1198.4 1575.6 1902.0 2003.9 1921.3 1996.0 2013.1 101
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Billions of dollars; quarterly figures are seasonally adjusted annual rates

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

 

102 Total liabilities and net worth 8894.4 9570.6 11173.9 13036.9 13944.9 14666.5 13515.9 12157.3 12760.2 13364.4 102

103 Liabilities 3212.2 3282.0 3637.2 4180.2 4763.6 5349.0 5794.5 5709.6 5653.5 5704.0 103

104 Loans 2227.6 2301.4 2556.1 2897.7 3313.0 3774.6 4093.4 3973.3 3940.0 3952.4 104

105 Short term 597.0 606.7 640.9 805.0 937.1 1091.6 1223.4 1116.1 1097.8 1155.1 105

106 Depository institution loans n.e.c. 469.3 479.7 512.6 670.4 785.7 926.5 1046.1 944.1 923.7 980.4 106

107 Other loans and advances 127.7 127.1 128.3 134.6 151.4 165.1 177.4 172.0 174.1 174.7 107

108 Long term (mortgages) 1630.6 1694.7 1915.2 2092.7 2375.9 2683.0 2869.9 2857.2 2842.2 2797.3 108

109 Equity and investment fund shares (direct investment in the U.S.) 4.0 3.3 3.0 3.3 3.6 3.6 3.6 4.8 5.1 5.8 109

110 Other accounts payable 980.6 977.3 1078.1 1279.1 1447.1 1570.8 1697.5 1731.6 1708.3 1745.8 110

111 Trade payables 287.4 261.2 284.9 334.5 348.9 374.9 380.7 388.3 416.8 420.7 111

112 Taxes payable 70.2 69.7 78.0 86.7 95.7 99.5 106.2 99.9 99.2 100.3 112

113 Other (miscellaneous liabilities) 623.1 646.5 715.2 857.9 1002.5 1096.4 1210.7 1243.3 1192.4 1224.8 113

114 Net worth 5682.2 6288.7 7536.6 8856.8 9181.2 9317.5 7721.3 6447.7 7106.7 7660.4 114

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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S.5.a Nonfinancial Corporate Business

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

 

 Current account

 1 Gross value added 5307.7 5503.7 5877.5 6302.8 6740.3 6946.0 6991.4 6590.8 6952.4 7366.7 1

 2 Less: Consumption of fixed capital 654.5 669.0 695.6 743.0 800.9 840.1 864.3 862.5 860.1 893.7 2

 3 Equals: Net value added 4653.1 4834.7 5181.9 5559.8 5939.4 6106.0 6127.1 5728.3 6092.3 6473.0 3

 4 Compensation of employees (paid) 3544.2 3651.3 3786.7 3976.3 4182.3 4361.0 4441.2 4173.7 4252.0 4472.7 4

 5 Wages and salaries 2936.7 2979.0 3105.5 3267.5 3462.3 3636.2 3681.4 3435.3 3508.4 3687.5 5

 6 Employers’ social contributions 607.5 672.3 681.2 708.8 720.0 724.8 759.8 738.5 743.6 785.2 6

 7 Taxes on production and imports less subsidies 461.9 484.2 517.7 558.4 593.3 607.7 615.2 589.2 612.2 645.8 7

 8 Operating surplus, net 647.1 699.2 877.5 1025.1 1163.7 1137.4 1070.8 965.4 1228.2 1354.5 8

 9 Net national income/Balance of primary incomes, net 324.6 373.2 500.5 689.8 678.9 589.2 522.9 579.5 845.2 910.9 9

10 Operating surplus, net 647.1 699.2 877.5 1025.1 1163.7 1137.4 1070.8 965.4 1228.2 1354.5 10

11 Property income (received) 396.9 420.0 481.8 614.7 643.6 689.1 634.6 572.7 594.4 638.0 11

12 Interest 249.2 237.0 253.1 296.8 357.1 382.8 310.6 222.2 188.7 190.9 12

13 Distributed income of corporations (dividends) 50.3 55.8 66.3 300.2 79.6 92.3 108.0 138.7 125.4 137.8 13

14 Reinvested earnings on U.S. direct investment abroad 97.5 127.2 162.4 17.8 206.8 214.1 216.0 211.8 280.3 309.3 14

15 Less: Uses of property income (paid) 719.4 746.0 858.7 950.0 1128.4 1237.3 1182.5 958.6 977.4 1081.6 15

16 Interest 401.4 370.8 372.2 428.2 503.2 596.3 546.2 433.7 393.4 429.2 16

17 Distributed income of corporations (dividends) 305.1 349.2 430.8 471.1 550.7 576.9 582.2 490.9 511.1 563.2 17

18 Reinvested earnings on foreign direct investment 1.5 12.0 40.5 34.0 56.5 45.3 32.1 18.1 55.8 71.7 18

19 Rent 11.4 14.1 15.3 16.8 18.0 18.8 22.0 16.0 17.1 17.5 19

20 Net national income/Balance of primary incomes, net 324.6 373.2 500.5 689.8 678.9 589.2 522.9 579.5 845.2 910.9 20

21 Less: Current taxes on income, wealth, etc. (paid) 97.1 132.9 187.0 271.9 307.6 293.8 227.4 177.8 222.9 246.8 21

22 Less: Other current transfers (paid) 56.3 65.2 65.5 79.3 75.8 69.1 58.1 77.4 89.3 91.5 22

23 Equals: Disposable income, net 171.3 175.1 248.0 338.6 295.4 226.3 237.5 324.3 533.1 572.5 23

24 Equals: Net saving 171.3 175.1 248.0 338.6 295.4 226.3 237.5 324.3 533.1 572.5 24

 Capital account

25 Net saving less capital transfers 171.3 175.2 254.7 354.2 295.5 226.4 241.1 286.0 511.8 578.2 25

26 Net saving 171.3 175.1 248.0 338.6 295.4 226.3 237.5 324.3 533.1 572.5 26

27 Less: Capital transfers paid (net) -0.0 -0.1 -6.7 -15.5 -0.0 -0.0 -3.7 38.3 21.2 -5.7 27

28 Capital formation, net 141.5 137.9 197.6 254.5 350.6 320.4 248.2 -96.1 119.7 168.6 28

 Gross fixed capital formation (acquisition of

29 produced nonfinancial assets) 785.7 794.2 841.4 950.7 1079.1 1134.0 1136.5 907.3 921.8 1025.2 29

30 Less: Consumption of fixed capital 654.5 669.0 695.6 743.0 800.9 840.1 864.3 862.5 860.1 893.7 30

31 Acquisition of nonproduced nonfinancial assets -3.2 -2.9 -2.7 -0.6 12.5 -1.7 16.3 4.4 -2.6 -2.1 31

32 Change in private inventories 13.5 15.5 54.4 47.4 59.9 28.2 -40.2 -145.3 60.7 39.1 32

33 Net lending (+) or borrowing (-), capital account (lines 25-28) 29.8 37.3 57.1 99.7 -55.2 -94.0 -7.1 382.1 392.1 409.6 33

 Financial account

34 Net lending (+) or borrowing (-), capital account (line 33) 29.8 37.3 57.1 99.7 -55.2 -94.0 -7.1 382.1 392.1 409.6 34

35 Net acquisition of financial assets 141.2 87.6 780.1 945.7 700.9 1074.9 -604.0 307.3 614.0 519.0 35

36 Currency and deposits 2.9 133.0 56.2 120.6 -84.8 -62.3 -214.0 256.1 144.1 45.7 36

37 Currency and transferable deposits -12.3 44.0 3.0 60.8 -117.2 -7.6 -129.0 142.3 75.1 37.3 37

38 Time and savings deposits 10.2 71.5 37.7 49.9 46.6 -55.7 -59.4 106.9 59.9 14.3 38

39 Foreign deposits 5.1 17.6 15.6 9.9 -14.2 0.9 -25.5 6.8 9.1 -5.8 39

40 Debt securities 21.3 10.8 16.2 40.4 -1.2 -61.7 -25.7 16.3 15.6 -7.8 40

41 Open market paper 4.6 10.9 19.3 16.0 11.7 -53.2 -12.2 -1.3 12.0 0.1 41

42 Treasury securities 14.5 2.3 0.3 18.1 -6.7 -7.1 -7.9 12.5 5.1 -4.8 42

43 Agency- and GSE-backed securities (1) -0.7 -5.7 0.1 6.0 -2.2 -2.4 -2.6 4.2 1.7 -1.6 43

44 Municipal securities 2.8 3.3 -3.6 0.3 -4.0 1.1 -3.0 0.9 -3.2 -1.4 44

45 Loans 6.9 -13.7 15.4 10.2 -12.2 -21.7 -9.8 -5.6 -8.7 3.0 45

46 Short term (security RPs and consumer credit) 3.9 -15.9 0.6 8.5 -3.8 -3.2 -2.1 -1.5 -7.1 2.8 46

47 Long term (mortgages) 2.9 2.2 14.8 1.7 -8.4 -18.4 -7.7 -4.1 -1.6 0.2 47

48 Equity and investment fund shares 143.5 103.3 284.1 142.5 334.9 374.6 423.5 211.8 200.6 356.7 48

49 Money market fund shares 5.7 -30.4 10.3 52.7 69.1 127.2 178.5 -71.4 -157.7 -35.4 49

50 Mutual fund shares -0.2 5.8 -1.3 0.7 23.6 -4.9 -16.5 35.3 11.1 -12.8 50

51 U.S. direct investment abroad 131.1 125.3 272.4 24.7 219.2 307.0 262.6 257.2 324.8 396.5 51

52 Equity in government-sponsored enterprises (1) 0.0 0.1 0.1 0.0 0.1 0.1 -0.1 0.0 0.1 -0.0 52

53 Investment in finance company subsidiaries 6.9 2.6 2.6 64.4 22.9 -54.8 -1.1 -9.3 22.3 8.5 53
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2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

 

54 Insurance, pension and standardized guarantee schemes (2) 18.1 19.1 19.7 21.2 7.6 8.3 10.9 -0.9 3.0 15.7 54

55 Other accounts receivable -51.5 -165.0 388.5 610.8 456.6 837.6 -788.9 -170.4 259.4 105.8 55

56 Trade receivables -98.4 -17.7 128.8 277.6 -15.5 159.8 -169.5 -31.1 105.7 82.2 56

57 Other (miscellaneous assets) 46.9 -147.2 259.7 333.2 472.1 677.8 -619.5 -139.4 153.7 23.6 57

58 Net incurrence of liabilities 88.3 13.5 614.1 965.5 839.3 1281.0 339.0 -254.7 486.4 453.9 58

59 Debt securities 87.5 124.4 119.5 97.6 294.5 402.6 299.1 375.8 496.3 452.7 59

60 Open market paper -57.9 -37.3 15.3 -7.7 22.4 11.3 7.7 -73.1 24.5 33.4 60

61 Municipal securities 2.9 3.3 10.6 41.9 53.3 68.4 66.0 37.2 33.2 8.5 61

62 Corporate bonds 142.5 158.4 93.6 63.5 218.8 323.0 225.4 411.7 438.6 410.8 62

63 Loans -24.2 -35.2 126.7 275.1 237.9 452.5 71.4 -526.3 -301.7 72.4 63

64 Short term -71.5 -84.0 55.1 83.1 150.0 383.9 132.1 -394.9 -173.8 128.7 64

65 Depository institution loans n.e.c. -103.4 -91.4 4.0 -27.1 22.1 96.3 64.2 -234.1 -83.4 69.1 65

66 Other loans and advances 31.9 7.3 51.1 110.2 127.9 287.5 67.9 -160.8 -90.4 59.7 66

67 Long term (mortgages) 47.3 48.8 71.6 192.0 87.9 68.6 -60.8 -131.5 -127.9 -56.4 67

68 Equity and investment fund shares 58.3 0.7 -27.0 -243.1 -374.7 -575.3 -146.4 40.1 -121.1 -265.7 68

69 Corporate equities -16.2 -39.6 -122.7 -341.8 -565.7 -786.8 -336.0 -64.6 -278.0 -472.5 69

70 Foreign direct investment in the United States 74.5 40.2 95.7 98.7 191.0 211.6 189.5 104.7 156.9 206.8 70

71 Insurance, pension and standardized guarantee schemes 1.5 -0.2 -3.1 -1.9 -2.0 44.8 -25.5 -8.4 15.4 -0.9 71

72 Other accounts payable -34.7 -76.2 398.1 837.8 683.6 956.4 140.4 -135.9 397.4 195.5 72

73 Trade payables 19.8 -54.7 97.7 199.0 109.0 85.1 -225.2 -85.3 155.7 18.7 73

74 Taxes payable 11.9 -11.7 6.8 -1.8 -0.8 -49.6 3.1 -3.3 7.2 8.8 74

75 Miscellaneous liabilities -66.4 -9.7 293.6 640.6 575.3 920.9 362.5 -47.4 234.6 168.0 75

 Addendum:

76 Net lending (+) or borrowing (-), financial account (lines 35-58) 52.8 74.1 166.0 -19.8 -138.4 -206.1 -943.0 562.0 127.7 65.1 76

 Other changes in volume account

77 Total other volume changes -174.0 184.2 309.3 333.9 678.7 805.4 -673.3 254.1 389.8 521.2 77

78 Disaster losses 0.0 0.0 9.2 22.7 0.0 0.0 5.8 0.0 0.0 0.0 78

79 Other volume changes -199.6 136.2 157.0 400.0 723.9 870.2 212.4 77.4 615.5 803.1 79

80 Less: Statistical discrepancy (lines 33-[35-58]) (3) -23.0 -36.7 -108.9 119.5 83.2 112.1 935.9 -179.8 264.4 344.5 80

81 Less: Inventory valuation adjustment -2.6 -11.3 -34.3 -30.7 -38.0 -47.2 -44.5 3.2 -38.7 -62.6 81

 Revaluation account

82 Nonfinancial assets 284.7 309.5 1265.0 1002.9 1029.1 1671.3 -1099.7 -2967.3 999.8 851.8 82

83 Real estate 260.3 263.1 1140.7 882.6 881.2 1559.0 -1152.6 -2987.3 895.1 748.0 83

84 Equipment and software 6.7 29.5 86.9 86.1 137.7 51.4 103.4 -11.6 46.3 65.8 84

85 Inventories 17.7 16.9 37.4 34.2 10.2 60.9 -50.5 31.6 58.3 38.0 85

86 Financial assets -26.8 26.1 89.2 94.5 31.0 154.8 -199.6 -28.8 -95.5 -44.7 86

87 Mutual fund shares -17.9 18.2 11.9 8.1 15.2 9.7 -55.2 20.4 13.6 -8.1 87

88 Direct investment abroad -9.0 7.9 77.2 86.3 15.9 145.1 -144.4 -49.2 -109.2 -36.6 88

89 Liabilities -2728.2 2681.7 1378.2 980.7 2463.8 1942.9 -5479.4 2391.6 2184.2 573.6 89

90 Corporate equity -2640.0 2672.5 1366.1 939.8 2481.5 1915.2 -5378.2 2560.2 2207.6 539.2 90

91 Foreign direct investment in the United States -88.2 9.2 12.1 41.0 -17.7 27.7 -101.2 -168.5 -23.4 34.4 91

92 Changes in net worth due to nominal holding gains/losses 2986.1 -2346.2 -24.0 116.6 -1403.6 -116.7 4180.1 -5387.7 -1280.0 233.5 92

 Changes in balance sheet account

93 Change in net worth (lines 28+33+77+92) (4) 2983.4 -1986.8 540.0 804.6 -429.4 915.0 3747.9 -4847.5 -378.4 1332.8 93

 Balance sheet account (end of period)

94 Total assets 20205.2 20795.9 23066.4 25269.3 27395.1 30533.0 28875.8 26197.3 28071.5 29682.8 94

95 Nonfinancial assets (5) 10258.1 10672.5 12121.8 13360.7 14727.5 16770.9 15938.1 12857.2 14050.4 15147.3 95

96 Real estate 5695.7 6012.0 7206.4 8170.7 9180.0 10925.8 9960.7 7062.8 8040.9 8866.6 96

97 Equipment and software 3256.0 3310.4 3439.2 3601.6 3851.0 4012.2 4190.8 4124.6 4182.1 4313.6 97

98 Inventories 1306.4 1350.1 1476.1 1588.4 1696.5 1832.9 1786.6 1669.8 1827.4 1967.1 98

99 Financial assets 9947.0 10123.4 10944.6 11908.6 12667.6 13762.1 12937.7 13340.1 14021.0 14535.5 99

100 Currency and deposits 472.1 605.1 661.3 781.9 697.1 634.8 420.8 676.9 821.0 866.6 100

101 Currency and transferable deposits 160.2 204.2 207.2 268.0 150.8 143.2 14.2 156.6 231.7 268.8 101

102 Time and savings deposits 291.3 362.8 400.5 450.4 497.0 441.3 381.9 488.8 548.7 563.0 102

103 Foreign deposits 20.6 38.1 53.7 63.6 49.3 50.3 24.7 31.5 40.6 34.8 103
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Billions of dollars; quarterly figures are seasonally adjusted annual rates

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

 

104 Debt securities 145.2 156.0 172.2 212.6 211.4 149.7 124.1 140.4 155.9 148.1 104

105 Open market paper 64.8 75.7 95.0 111.0 122.7 69.5 57.3 56.0 68.0 68.0 105

106 Treasury securities 31.4 33.7 34.0 52.1 45.5 38.3 30.5 43.0 48.0 43.2 106

107 Agency- and GSE-backed securities (1) 16.9 11.2 11.3 17.4 15.2 12.8 10.2 14.3 16.0 14.4 107

108 Municipal securities 32.1 35.4 31.8 32.1 28.1 29.2 26.2 27.1 23.9 22.5 108

109 Loans 130.5 116.8 132.2 142.4 128.3 106.7 96.8 91.2 86.3 89.3 109

110 Short term 81.0 65.1 65.6 74.1 68.5 65.3 63.2 61.7 58.3 61.1 110

111 Security repurchases 6.2 6.0 6.4 14.6 15.5 8.1 7.2 7.9 12.1 12.6 111

112 Consumer credit 74.8 59.1 59.2 59.6 53.0 57.2 56.0 53.8 46.2 48.5 112

113 Long term (mortgages) 49.6 51.8 66.6 68.3 59.8 41.4 33.6 29.5 28.0 28.2 113

114 Equity and investment fund shares 2041.4 2170.6 2543.9 2809.9 3175.9 3701.6 3925.3 4108.3 4181.4 4493.3 114

115 Money market fund shares 319.7 289.3 299.6 352.2 421.3 548.5 727.0 655.5 497.8 462.4 115

116 Mutual fund shares 90.9 114.9 125.6 134.4 173.2 178.0 106.3 162.0 186.8 165.9 116

117 U.S. direct investment abroad 1611.9 1745.1 2094.7 2205.7 2440.7 2892.9 3011.1 3219.1 3434.7 3794.6 117

118 Equity in government-sponsored enterprises (1) 0.3 0.4 0.5 0.5 0.6 0.7 0.4 0.5 0.6 0.5 118

119 Investment in finance company subsidiaries 18.5 21.0 23.6 117.0 140.1 81.5 80.5 71.2 61.4 69.9 119

120 Insurance, pension and standardized guarantee schemes (2) 224.0 243.0 262.7 284.0 291.6 299.9 311.1 310.2 313.2 328.7 120

121 Other accounts receivable 6933.9 6831.8 7172.3 7677.9 8163.2 8869.3 8059.6 8013.1 8463.2 8609.4 121

122 Trade receivables 1719.5 1701.8 1830.6 2108.2 2094.6 2254.4 2084.9 2053.9 2155.9 2238.0 122

123 Other (miscellaneous assets) 5214.4 5130.0 5341.6 5569.6 6068.6 6614.9 5974.7 5959.2 6307.4 6371.4 123

124 Total liabilities and net worth 20205.2 20795.9 23066.4 25269.3 27395.1 30533.0 28875.8 26197.3 28071.5 29682.8 124

125 Liabilities 18162.4 20739.9 22470.4 23868.6 26423.8 28646.7 23241.6 25410.7 27663.2 27941.7 125

126 Debt securities 3152.2 3276.6 3407.1 3504.7 3799.2 4201.9 4501.0 4876.8 5373.1 5825.8 126

127 Open market paper 119.8 82.5 97.8 90.1 112.5 123.8 131.5 58.4 82.9 116.3 127

128 Municipal securities 160.6 163.9 185.4 227.3 280.6 349.0 415.0 452.2 485.4 493.9 128

129 Corporate bonds 2871.8 3030.2 3123.8 3187.3 3406.1 3729.1 3954.5 4366.2 4804.8 5215.6 129

130 Loans 1898.3 1877.3 2004.0 2279.0 2537.7 2996.7 3063.1 2452.8 2112.8 2186.7 130

131 Short term 1428.3 1356.3 1411.4 1494.5 1641.6 2031.9 2164.1 1685.1 1460.6 1589.0 131

132 Depository institution loans n.e.c. 693.4 614.1 618.0 591.0 613.0 715.9 780.0 546.0 480.9 549.8 132

133 Other loans and advances 734.9 742.2 793.3 903.5 1028.5 1316.1 1384.0 1139.1 979.7 1039.3 133

134 Long term (mortgages) 470.0 521.0 592.6 784.6 896.1 964.7 899.0 767.6 652.2 597.7 134

135 Equity and investment fund shares 9464.9 12147.2 13498.4 14236.0 16325.1 17692.7 12066.9 14498.6 16561.7 16869.6 135

136 Corporate equity 8212.3 10845.2 12088.6 12686.6 14602.3 15730.7 10016.6 12512.2 14441.8 14508.5 136

137 Foreign direct investment in the United States 1252.5 1302.0 1409.8 1549.4 1722.7 1961.9 2050.3 1986.4 2119.9 2361.1 137

138 Insurance, pension and standardized guarantee schemes 49.9 49.8 46.6 44.8 64.7 109.5 84.0 75.6 91.1 90.1 138

139 Other accounts payable 3597.0 3389.1 3514.3 3804.1 3697.1 3646.0 3526.6 3506.9 3524.5 2969.3 139

140 Trade payables 1458.6 1403.9 1501.6 1700.6 1812.9 1897.9 1672.7 1587.5 1743.2 1760.7 140

141 Taxes payable 93.0 81.2 88.0 86.2 85.4 35.8 39.0 35.7 42.9 51.7 141

142 Miscellaneous liabilities 2045.5 1904.0 1924.8 2017.4 1798.8 1712.2 1814.9 1883.7 1738.5 1156.9 142

143 Net worth 2042.8 56.0 596.0 1400.7 971.3 1886.3 5634.2 786.7 408.3 1741.1 143

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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Billions of dollars; quarterly figures are seasonally adjusted annual rates

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

 

 Current account

 1 Gross value added 883.2 922.3 964.5 1085.8 1189.4 1118.6 1031.0 1111.2 1185.1 1168.1 1

 2 Less: Consumption of fixed capital 107.4 113.0 120.5 127.3 132.8 140.6 172.7 176.6 175.0 177.0 2

 3 Equals: Net value added 775.8 809.3 844.1 958.5 1056.7 978.1 858.3 934.6 1010.0 991.1 3

 4 Compensation of employees (paid) 447.3 467.3 497.4 541.8 584.4 610.3 610.4 561.4 582.6 613.1 4

 5 Wages and salaries 371.1 393.6 420.0 454.5 492.4 521.0 513.3 471.6 487.3 514.3 5

 6 Employers’ social contributions 76.3 73.7 77.4 87.3 92.0 89.2 97.1 89.8 95.3 98.8 6

 7 Taxes on production and imports less subsidies 37.6 39.9 43.4 46.1 50.5 53.4 51.2 58.7 61.0 61.5 7

 8 Operating surplus, net 290.9 302.1 303.3 370.6 421.8 314.4 196.7 314.4 366.5 316.5 8

 9 Net national income/Balance of primary incomes, net 212.7 231.8 252.0 271.7 274.5 200.6 42.3 314.3 368.1 328.9 9

10 Operating surplus, net 290.9 302.1 303.3 370.6 421.8 314.4 196.7 314.4 366.5 316.5 10

11 Property income (received) 1211.7 1108.6 1338.1 1711.5 2255.2 2732.7 2358.4 1617.9 1542.4 1518.9 11

12 Interest 1128.0 1010.4 1205.9 1570.2 2057.5 2483.9 2099.8 1409.3 1276.2 1237.4 12

13 Distributed income of corporations (dividends) 69.6 77.3 102.0 138.3 156.0 201.2 209.1 157.6 197.1 207.5 13

14 Reinvested earnings on U.S. direct investment abroad 14.1 20.9 30.1 3.0 41.6 47.6 49.5 51.0 69.1 74.0 14

15 Less: Uses of property income (paid) 1289.9 1179.0 1389.3 1810.4 2402.5 2846.5 2512.7 1618.1 1540.8 1506.5 15

16 Interest 1068.7 948.6 1100.4 1480.4 2007.9 2411.0 2129.1 1296.3 1144.6 1064.5 16

17 Distributed income of corporations 220.9 227.9 279.7 321.9 381.7 425.4 376.4 318.0 384.3 426.3 17

18 Dividends 166.0 176.7 225.6 263.9 311.8 366.4 341.3 248.1 292.4 336.2 18

19 Withdrawals from income of quasi-corporations (1) 54.9 51.2 54.1 58.0 69.9 59.0 35.1 69.9 91.9 90.1 19

20 Reinvested earnings on foreign direct investment 0.3 2.5 9.3 8.0 12.9 10.1 7.3 3.7 11.8 15.7 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 212.7 231.8 252.0 271.7 274.5 200.6 42.3 314.3 368.1 328.9 22

23 Less: Current taxes on income, wealth, etc. (paid) 95.2 110.9 119.1 140.5 165.6 151.7 81.6 91.6 150.4 132.2 23

24 Less: Other current transfers (paid) 8.1 -13.2 -9.6 -16.6 -26.0 4.6 45.6 28.2 22.5 18.5 24

25 Equals: Disposable income, net 109.3 134.1 142.5 147.7 134.8 44.3 -85.0 194.5 195.1 178.2 25

26 Equals: Net saving 109.3 134.1 142.5 147.7 134.8 44.3 -85.0 194.5 195.1 178.2 26

 Capital account

27 Net saving less capital transfers 109.3 134.1 126.3 120.0 134.8 44.3 -24.5 316.4 236.6 210.6 27

28 Net saving 109.3 134.1 142.5 147.7 134.8 44.3 -85.0 194.5 195.1 178.2 28

29 Less: Capital transfers paid (net) 0.0 0.0 16.2 27.7 0.0 0.0 -60.5 -121.9 -41.5 -32.4 29

30 Capital formation, net 29.0 22.3 34.6 28.0 29.9 46.9 22.2 -12.1 -20.2 -4.1 30

31 Gross fixed capital formation (nonresidential) 136.4 135.4 155.1 155.3 162.7 187.5 195.0 164.4 154.8 172.9 31

32 Less: Consumption of fixed capital 107.4 113.0 120.5 127.3 132.8 140.6 172.7 176.6 175.0 177.0 32

33 Net lending (+) or borrowing (-), capital account (lines 27-30) 80.3 111.7 91.7 92.0 104.9 -2.6 -46.7 328.6 256.8 214.7 33

 Financial account

34 Net lending (+) or borrowing (-) (line 33) 80.3 111.7 91.7 92.0 104.9 -2.6 -46.7 328.6 256.8 214.7 34

35 Net acquisition of financial assets 2298.7 2769.6 2995.4 3413.6 4175.5 5130.5 4565.9 -1658.5 -631.7 1884.8 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 -9.9 -47.3 43.9 -12.3 74.7 177.5 1011.2 225.0 -141.0 527.6 37

38 Debt securities 874.0 1075.2 460.4 654.0 1112.0 1247.8 1113.4 829.3 799.3 1268.2 38

39 SDR certificates 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3.0 0.0 0.0 39

40 Open market paper -130.2 -157.0 35.5 208.8 242.5 -82.0 51.8 -374.5 -149.2 -110.3 40

41 Treasury securities 195.2 87.8 -50.2 45.6 89.0 120.9 352.9 361.7 425.3 969.5 41

42 Agency- and GSE-backed securities (2) 511.9 432.5 -198.9 -247.3 93.0 306.3 705.3 684.7 131.6 157.5 42

43 Municipal securities 69.6 110.7 79.5 115.6 131.2 184.7 42.1 38.5 44.1 15.8 43

44 Corporate and foreign bonds 203.1 576.6 553.6 491.3 520.4 684.7 -101.9 54.0 281.8 164.9 44

45 Nonmarketable government securities 24.5 24.7 40.9 40.0 35.8 33.3 63.3 61.9 65.7 70.8 45

46 Loans 928.3 1104.8 1569.3 1954.8 2006.6 2343.1 1621.4 -2808.6 -949.3 -148.0 46

47 Short term 32.7 115.9 358.3 539.2 606.9 1262.3 1544.2 -2509.4 -445.1 164.7 47

48 Long term (mortgages) 895.5 988.9 1211.1 1415.6 1399.8 1080.8 77.2 -299.2 -504.2 -312.7 48

49 Equity and investment fund shares 397.3 329.7 656.9 536.2 547.4 927.3 1089.4 38.8 -122.7 37.4 49

50 Corporate equities 169.4 257.6 332.4 285.0 183.7 130.4 471.9 170.8 81.4 -30.5 50

51 Mutual fund shares 101.0 -2.6 94.9 46.8 92.5 84.2 39.5 68.4 17.1 13.3 51

52 Money market mutual fund shares -1.6 -79.0 -111.6 16.0 40.9 331.3 289.2 -173.1 -165.9 -64.8 52

53 Equity in government-sponsored enterprises (2) 1.9 2.5 2.4 2.0 -0.0 8.3 -5.3 0.0 -3.2 -6.2 53

54 U.S. direct investment abroad 23.4 24.3 43.8 11.5 25.8 107.0 66.4 32.2 3.1 22.8 54

55 Stock in Federal Reserve Banks 1.0 0.5 3.1 1.6 1.8 3.1 2.6 4.6 0.9 0.4 55

56 Investment in subsidiaries 102.2 126.4 291.9 173.2 202.8 263.1 225.0 -64.1 -56.0 102.4 56
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Billions of dollars; quarterly figures are seasonally adjusted annual rates

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

 

57 Insurance, pension and standardized guarantee schemes 14.6 -17.3 -36.8 -2.3 4.9 90.2 37.6 22.1 -19.1 13.9 57

58 Other accounts receivable 94.3 324.5 301.6 283.2 429.9 344.6 -307.1 34.9 -198.9 185.7 58

59 Net incurrence of liabilities 2277.0 2560.6 2980.5 3106.5 3901.8 5008.9 4848.6 -1700.9 -424.7 2008.3 59

60 Currency and deposits 383.2 465.7 612.5 617.7 616.2 536.5 2209.1 240.1 344.4 1450.0 60

61 Debt securities 845.5 1010.0 806.0 1039.5 1304.6 1503.7 360.4 -1094.1 -724.2 -415.9 61

62 Agency- and GSE-backed securities (2) 546.7 586.2 115.8 80.4 328.2 905.7 768.7 -60.1 -46.9 -21.9 62

63 Corporate bonds 398.8 487.3 668.6 744.9 780.0 709.5 -282.9 -585.9 -575.1 -325.9 63

64 Commercial paper -99.9 -63.5 21.7 214.2 196.4 -111.5 -125.4 -448.1 -102.2 -68.2 64

65 Loans 106.0 365.2 308.9 424.8 571.2 602.0 -77.7 -1079.8 -452.6 -15.6 65

66 Short term 94.8 356.3 283.4 410.7 564.6 597.3 -84.5 -1083.1 -452.8 -24.7 66

67 Long term (mortgages) 11.2 8.9 25.5 14.1 6.6 4.7 6.8 3.4 0.2 9.1 67

68 Equity and investment fund shares 351.9 250.5 649.7 698.0 931.6 1467.9 1717.3 266.9 69.1 491.3 68

69 Money market mutual fund shares -23.6 -212.6 -136.4 125.1 303.1 736.8 724.2 -498.7 -503.2 -112.8 69

70 Corporate equity issues 71.5 66.0 118.1 78.4 60.0 179.6 639.3 316.4 191.2 164.5 70

71 Mutual fund shares 180.9 288.1 296.3 260.2 336.8 361.5 -9.9 497.1 370.1 338.4 71

72 Equity in government-sponsored enterprises (2) 2.0 3.2 2.5 1.9 0.2 9.1 -4.2 0.0 -2.7 -5.9 72

73 Foreign direct investment in the United States 9.6 23.9 50.2 13.9 52.0 9.3 120.7 45.7 48.8 27.1 73

74 Equity in noncorporate business 0.6 -3.4 -4.2 -1.2 -6.8 2.4 11.5 -3.6 0.4 -2.0 74

75 Investment by parent 109.7 84.9 320.1 218.1 184.4 166.1 233.0 -94.5 -36.4 81.6 75

76 Stock in Federal Reserve Banks 1.0 0.5 3.1 1.6 1.8 3.1 2.6 4.6 0.9 0.4 76

77 Insurance, pension and standardized guarantee schemes 399.8 405.5 444.2 471.0 411.1 663.0 217.3 91.6 327.2 414.1 77

78 Other accounts payable 190.6 63.7 159.3 -144.4 67.1 235.8 422.2 -125.7 11.3 84.4 78

 Addendum:

79 Net lending (+) or borrowing (-), financial account (lines 35-59) 21.6 209.0 14.8 307.0 273.8 121.6 -282.7 42.4 -206.9 -123.4 79

 Other changes in volume account

80 Total other volume changes 70.0 3.0 -61.6 154.8 418.3 -81.1 -362.3 385.8 -518.5 -222.0 80

81 Disaster losses 0.0 0.0 1.7 1.7 0.0 0.0 0.6 0.0 0.0 0.0 81

82 Other volume changes 128.7 -94.3 13.5 -61.9 249.4 -205.3 -126.9 671.9 -54.7 116.1 82

83 Less: Statistical discrepancy (lines 33-[35-59]) (3) 58.7 -97.2 76.8 -215.0 -168.9 -124.1 236.0 286.2 463.8 338.1 83

 Revaluation account

84 Nonfinancial assets 32.8 40.0 88.4 101.9 98.9 57.3 64.8 -53.7 4.1 43.4 84

85 Structures (nonresidential) 23.4 21.1 69.4 83.1 74.7 45.8 59.3 -46.6 1.3 34.9 85

86 Equipment and software 9.4 18.9 18.9 18.8 24.3 11.5 5.6 -7.1 2.8 8.5 86

87 Financial assets -1603.4 2145.3 1178.7 928.9 1245.0 603.8 -5784.6 2664.2 1744.5 -506.3 87

88 Corporate equities -1469.2 1862.7 1004.2 614.6 957.3 625.3 -5069.2 2141.7 1413.3 -448.6 88

89 Mutual fund shares -162.6 252.6 123.9 283.7 252.0 -67.3 -726.3 481.8 272.5 -49.7 89

90 U.S. direct investment abroad 28.4 30.0 50.6 30.7 35.7 45.8 10.8 40.7 58.7 -8.0 90

91 Liabilities -1911.2 2774.6 1484.7 1128.6 2187.3 -538.9 -7684.1 3482.8 1994.5 -713.1 91

92 Corporate equity issues -366.9 795.9 459.1 262.4 716.1 -985.4 -2366.0 386.2 512.8 -376.1 92

93 Mutual fund shares -678.1 726.8 483.8 352.4 682.6 396.0 -2424.7 1035.6 582.2 -340.4 93

94 Foreign direct investment in the United States -15.1 8.4 4.0 9.4 22.5 -56.7 -157.6 17.9 16.8 42.1 94

95 Equity in noncorporate business -1.9 11.4 2.4 1.7 4.9 -0.6 -13.6 6.3 1.3 1.0 95

96 Pension fund reserves -849.2 1232.2 535.4 473.6 727.9 111.5 -2722.1 1361.2 915.5 -39.4 96

97 Investment by parent 0.0 -0.1 -0.0 29.0 33.2 -3.7 0.0 675.6 -34.0 -0.3 97

98 Changes in net worth due to nominal holding gains/losses 340.6 -589.2 -217.6 -97.8 -843.4 1200.0 1964.3 -872.4 -245.9 250.2 98

 Changes in balance sheet account

99 Change in net worth (lines 30+33+80+98) 519.9 -452.2 -153.0 177.0 -290.2 1163.2 1577.5 -170.2 -527.8 238.8 99

 Balance sheet account (end of period)

100 Total assets 40066.2 44878.3 49109.9 53399.9 59147.3 64962.8 63998.8 65556.1 66174.2 67699.1 100

101 Nonfinancial assets (4) 1147.9 1194.1 1296.9 1404.4 1511.0 1591.7 1678.2 1612.4 1596.3 1635.6 101

102 Structures (nonresidential) 667.2 685.6 755.7 838.9 914.0 967.2 1034.3 987.7 978.9 1002.6 102

103 Equipment and software 480.7 508.6 541.2 565.4 597.0 624.5 643.9 624.7 617.3 632.9 103
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Billions of dollars; quarterly figures are seasonally adjusted annual rates

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

 

104 Financial assets 38918.3 43684.2 47813.0 51995.6 57636.3 63371.0 62320.5 63943.8 64578.0 66063.5 104

105 Monetary gold 11.0 11.0 11.0 11.0 11.0 11.0 11.0 11.0 11.0 11.0 105

106 Currency and deposits 779.0 734.4 779.4 764.4 816.8 996.6 2043.7 2283.3 2188.1 2715.8 106

107 Debt securities 12633.4 13546.1 14026.5 14661.3 15686.9 16934.7 18050.6 18902.5 19122.8 20390.7 107

108 SDR certificates 2.2 2.2 2.2 2.2 2.2 2.2 2.2 5.2 5.2 5.2 108

109 Open market paper 950.0 793.0 828.5 1037.3 1276.8 1194.8 1246.2 871.7 722.5 612.1 109

110 Treasury securities 1632.2 1644.0 1593.8 1639.4 1733.1 1854.0 2206.9 2568.6 2993.9 3963.3 110

111 Agency- and GSE-backed securities (2) 4304.0 4571.9 4393.0 4145.8 4154.5 4460.7 5166.0 5905.1 5574.0 5731.4 111

112 Municipal securities 1040.3 1151.0 1230.5 1346.1 1477.0 1661.7 1703.8 1742.2 1786.4 1802.2 112

113 Corporate and foreign bonds 3914.4 4569.0 5122.6 5607.7 6124.7 6809.4 6710.3 6732.4 6898.1 7062.7 113

114 Nonmarketable government securities 790.3 815.0 855.9 882.9 918.7 952.0 1015.3 1077.2 1142.9 1213.7 114

115 Loans 13333.0 14482.0 16066.2 18021.1 20011.4 22344.1 23965.2 21184.0 20214.0 20066.0 115

116 Short term 5347.8 5496.2 5854.4 6393.6 6960.6 8212.5 9756.3 7274.3 6910.2 7074.9 116

117 Long term (mortgages) 7985.2 8985.9 10211.8 11627.5 13050.8 14131.6 14208.9 13909.6 13303.8 12991.1 117

118 Equity and investment fund shares 9536.3 12011.3 13846.9 15312.0 17148.2 18679.3 13984.1 17363.2 18985.0 18516.1 118

119 Corporate equities 5973.9 8094.3 9430.8 10330.4 11471.4 12227.1 7629.8 9942.4 11437.0 10957.9 119

120 Mutual fund shares 1201.9 1452.0 1670.8 2001.4 2345.9 2362.8 1676.0 2226.2 2515.8 2479.4 120

121 Money market fund shares 692.6 613.7 502.1 518.1 569.7 901.0 1190.2 1017.1 851.2 786.4 121

122 Equity in government-sponsored enterprises (2) 35.2 37.7 40.1 42.0 42.0 50.3 45.0 45.0 41.7 35.5 122

123 U.S. direct investment abroad 255.1 309.4 403.8 446.0 507.4 660.2 737.4 810.3 872.1 886.9 123

124 Stock in Federal Reserve Banks 8.4 8.8 11.9 13.5 15.3 18.5 21.1 25.6 26.5 26.9 124

125 Investment in subsidiaries 1369.0 1495.4 1787.3 1960.6 2196.5 2459.6 2684.6 3296.6 3240.6 3343.0 125

126 Insurance, pension and standardized guarantee schemes 319.5 387.7 397.6 405.5 526.1 628.6 520.0 619.4 656.1 676.6 126

127 Other accounts receivable 2306.1 2511.7 2685.4 2820.3 3435.8 3776.7 3746.0 3580.3 3401.0 3687.2 127

128 Total liabilities and net worth 40066.2 44878.3 49109.9 53399.9 59147.3 64962.8 63998.8 65556.1 66174.2 67699.1 128

129 Liabilities 40411.4 45675.6 50060.2 54173.2 60210.9 64863.1 62321.6 64049.1 65195.0 66481.0 129

130 Currency and deposits 6373.9 6839.1 7477.1 8095.4 8712.3 9248.2 11420.9 11654.6 11995.6 13427.9 130

131 Debt securities 9312.8 10158.1 10978.9 11963.9 13254.0 14887.5 15247.6 14479.0 13472.1 13056.1 131

132 Agency- and GSE-backed securities (2) 5509.0 5944.5 6060.3 6140.7 6468.9 7374.6 8143.4 8083.3 7574.0 7552.1 132

133 Corporate bonds 2805.9 3279.2 3962.7 4653.0 5421.6 6260.8 5977.9 5717.5 5322.1 4996.2 133

134 Commercial paper 997.9 934.4 956.0 1170.2 1363.5 1252.1 1126.3 678.2 576.0 507.9 134

135 Loans 2448.0 2813.2 3122.1 3546.9 4114.9 4716.9 4639.2 3691.1 3226.8 3211.1 135

136 Short term 2351.0 2707.3 2990.7 3401.4 3962.9 4560.2 4475.7 3524.2 3059.7 3035.0 136

137 Long term (mortgages) 97.0 105.9 131.4 145.5 152.1 156.7 163.5 166.9 167.1 176.2 137

138 Equity and investment fund shares 10401.4 12194.3 13793.2 15146.2 17537.2 18354.7 15110.0 17498.4 18646.5 18464.1 138

139 Money market fund shares 2217.0 2004.4 1868.0 1993.1 2296.3 3033.0 3757.3 3258.6 2755.4 2642.5 139

140 Corporate equity issues 2852.0 3713.9 4291.1 4631.9 5408.0 4602.2 2875.4 3578.1 4282.1 4070.5 140

141 Mutual fund shares 3638.0 4652.9 5433.0 6045.6 7065.0 7822.6 5388.0 6920.7 7873.0 7870.9 141

142 Equity in government-sponsored enterprises (2) 39.1 42.3 44.8 46.7 46.9 56.0 51.8 51.8 49.0 43.1 142

143 Foreign direct investment in the United States 243.5 275.7 329.9 353.2 427.8 380.4 343.5 407.0 472.6 541.9 143

144 Equity in noncorporate business 5.0 13.0 11.2 11.7 9.8 11.6 9.5 12.1 13.8 12.8 144

145 Investment by parent 1398.6 1483.4 1803.4 2050.4 2268.1 2430.5 2663.5 3244.5 3174.1 3255.4 145

146 Stock in Federal Reserve Banks 8.4 8.8 11.9 13.5 15.3 18.5 21.1 25.6 26.5 26.9 146

147 Insurance, pension and standardized guarantee schemes 10059.0 11807.6 12848.0 13807.0 14954.5 15744.8 13005.2 14571.1 15888.5 16249.3 147

148 Other accounts payable 1816.3 1863.4 1840.8 1613.8 1637.9 1910.9 2898.7 2155.0 1965.7 2072.6 148

149 Net worth -345.1 -797.3 -950.3 -773.3 -1063.5 99.6 1677.2 1507.0 979.2 1218.0 149

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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Billions of dollars; quarterly figures are seasonally adjusted annual rates

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

 

 Current account

 1 Gross value added 418.4 449.2 480.5 504.1 528.9 555.3 585.3 617.8 650.5 662.7 1

 2 Less: Consumption of fixed capital 89.2 90.8 94.8 100.4 106.6 112.6 120.0 124.8 130.2 137.0 2

 3 Equals: Net value added 329.2 358.4 385.7 403.7 422.3 442.7 465.3 493.0 520.2 525.6 3

 4 Compensation of employees (paid) 329.0 354.7 385.4 407.2 425.2 445.4 469.0 497.6 527.2 538.3 4

 5 Wages and salaries 217.4 234.9 250.1 263.4 271.7 283.4 296.7 312.3 328.6 332.2 5

 6 Employers’ social contributions 111.6 119.8 135.4 143.8 153.5 162.0 172.3 185.2 198.6 206.1 6

 7 Operating surplus, net 0.2 3.7 0.3 -3.5 -2.9 -2.7 -3.7 -4.5 -7.0 -12.7 7

 8 Net national income/Balance of primary incomes, net -162.3 -146.1 -149.2 -197.0 -207.5 -239.1 -221.1 -176.5 -195.4 -236.0 8

 9 Operating surplus, net 0.2 3.7 0.3 -3.5 -2.9 -2.7 -3.7 -4.5 -7.0 -12.7 9

10 Taxes on production and imports, receivable 86.8 89.3 94.3 98.8 99.4 94.5 94.0 91.4 95.5 107.4 10

11 Subsidies (paid) -40.5 -49.0 -46.0 -60.5 -51.0 -47.4 -49.9 -58.3 -55.4 -61.1 11

12 Property income (received) 20.3 22.8 23.2 23.7 26.1 29.8 30.7 48.1 53.0 55.3 12

13 Interest 15.4 16.4 16.3 16.4 18.2 22.2 20.1 24.5 29.8 30.3 13

14 Distributed income of corporations (dividends) 0.0 0.0 0.1 0.2 0.3 0.2 0.6 18.7 17.0 18.7 14

15 Rents on land and natural resources 4.8 6.4 6.8 7.0 7.7 7.3 10.0 4.8 6.2 6.4 15

16 Less: Uses of property income (interest paid) 229.1 212.9 221.0 255.4 279.2 313.2 292.1 253.1 281.4 325.0 16

17 Net national income/Balance of primary incomes, net -162.3 -146.1 -149.2 -197.0 -207.5 -239.1 -221.1 -176.5 -195.4 -236.0 17

18 Plus: Current taxes on income, wealth, etc. (received) 986.7 980.9 1059.5 1284.9 1458.9 1543.1 1353.7 1072.2 1214.4 1395.3 18

19 Plus: Social benefits (received) 739.3 762.8 807.6 852.6 904.6 945.3 973.1 949.1 969.8 905.5 19

20 Less: Social contributions (paid) 924.6 972.7 1024.9 1089.2 1193.1 1267.5 1401.2 1621.4 1725.1 1752.9 20

21 Plus: Other current transfers (received) 26.1 25.6 29.0 33.6 38.3 44.8 54.4 70.2 69.8 68.8 21

22 Less: Other current transfers (paid) 327.5 366.6 380.1 402.1 394.0 423.0 440.7 536.1 585.8 556.5 22

23 Equals: Disposable income, net 337.7 283.9 341.9 482.8 607.2 603.7 318.3 -242.4 -252.3 -175.9 23

24 Plus: Wage accruals less disbursements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

25 Less: Final consumption expenditures 590.5 660.3 721.4 765.8 811.0 848.9 931.7 987.0 1055.8 1061.5 25

26 Equals: Net saving -252.8 -376.4 -379.5 -283.0 -203.8 -245.2 -613.5 -1229.3 -1308.0 -1237.4 26

 Capital account

27 Net saving less capital transfers -276.7 -417.0 -418.4 -342.8 -246.5 -301.6 -746.9 -1432.6 -1453.2 -1370.6 27

28 Net saving -252.8 -376.4 -379.5 -283.0 -203.8 -245.2 -613.5 -1229.3 -1308.0 -1237.4 28

29 Less: Capital transfers paid (net) 23.9 40.6 38.9 59.8 42.7 56.3 133.5 203.3 145.2 133.2 29

30 Capital formation, net 1.3 5.2 8.5 9.5 0.8 13.5 9.2 24.8 37.3 23.4 30

 Gross fixed capital formation (acquisition of

31 produced nonfinancial assets) 90.1 96.2 103.3 110.5 120.7 127.4 148.4 156.6 167.3 160.5 31

32 Less: Consumption of fixed capital 89.2 90.8 94.8 100.4 106.6 112.6 120.0 124.8 130.2 137.0 32

33 Acquisition of nonproduced nonfinancial assets 0.3 -0.2 0.0 -0.5 -13.3 -1.3 -19.2 -7.1 0.2 -0.1 33

34 Net lending (+) or borrowing (-), capital account (lines 27-30) -278.0 -422.2 -426.8 -352.4 -247.2 -315.0 -756.2 -1457.4 -1490.5 -1394.1 34

 Financial account

35 Net lending (+) or borrowing (-) (line 34) -278.0 -422.2 -426.8 -352.4 -247.2 -315.0 -756.2 -1457.4 -1490.5 -1394.1 35

36 Net acquisition of financial assets 8.4 34.2 4.3 30.2 -14.2 -0.5 571.9 224.2 287.6 -165.7 36

37 Monetary gold and SDRs 0.5 -0.6 0.4 -4.5 0.2 0.2 0.1 48.2 0.0 -1.8 37

38 Monetary gold 0.0 0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 38

39 SDR holdings 0.5 -0.6 0.4 -4.5 0.2 0.2 0.1 48.2 0.0 -1.8 39

40 Currency and deposits 2.9 -16.9 -34.6 -0.9 -5.5 25.7 316.0 -170.0 150.6 -240.0 40

41 Official foreign currencies 0.3 0.3 0.3 0.3 0.4 0.5 0.6 0.3 0.3 -0.2 41

42 Reserve position in IMF (net) 2.6 -1.5 -3.8 -10.2 -3.3 -1.0 3.5 3.4 1.3 18.2 42

43 Currency and transferable deposits -17.1 9.3 -31.0 12.2 -2.7 25.1 313.1 -174.2 148.9 -257.6 43

44 Time and savings deposits 17.1 -25.2 -0.0 -1.0 0.2 1.2 -1.3 0.3 0.1 -0.3 44

45 Nonofficial foreign currencies 0.1 0.2 -0.0 -2.2 -0.0 -0.1 0.0 0.2 0.1 -0.1 45

46 Debt securities 0.0 0.0 0.0 0.0 0.0 0.0 54.4 142.5 -46.9 -118.2 46

47 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 54.4 142.0 -47.2 -118.1 47

48 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.6 0.3 -0.1 48

49 Loans 8.0 -2.6 2.3 -0.9 5.9 5.9 30.8 152.9 131.9 117.5 49

50 Short term 7.5 -0.1 0.7 -3.3 2.2 3.8 17.3 140.4 133.7 113.5 50

51 Consumer credit 8.0 1.9 3.7 3.7 1.6 6.0 11.3 74.3 130.2 108.7 51

52 Other loans and advances -0.5 -2.0 -3.0 -7.0 0.6 -2.2 6.0 66.0 3.5 4.8 52

53 Long term (mortgages) 0.5 -2.5 1.6 2.4 3.7 2.1 13.5 12.6 -1.8 4.0 53
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2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

 

54 Equity and investment fund shares 1.5 1.4 2.0 1.3 2.0 1.7 257.7 3.4 30.4 43.5 54

55 Corporate equities 0.0 0.0 0.0 0.0 0.0 0.0 256.3 0.6 24.1 40.3 55

56 Equity in international organizations 1.5 1.4 2.0 1.3 2.0 1.7 1.4 1.7 2.3 2.6 56

57 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 57

58 Equity investment under Public-Private Inv. Program 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.2 4.0 0.7 58

59 Other accounts receivable -4.5 52.9 34.2 35.2 -16.9 -33.9 -87.2 47.1 21.6 33.1 59

60 Trade receivables -3.3 19.1 10.5 9.2 -11.6 1.2 4.2 -21.1 -0.7 4.8 60

61 Taxes receivable -2.8 33.5 22.3 25.3 -6.3 -35.5 -61.9 35.9 32.2 29.7 61

62 Other (miscellaneous assets) 1.5 0.4 1.4 0.6 1.0 0.4 -29.4 32.3 -9.8 -1.3 62

63 Net incurrence of liabilities 300.6 511.1 438.4 410.5 251.1 343.5 1351.4 1520.5 1677.6 1180.9 63

64 SDR allocations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 47.6 0.0 0.0 64

65 Currency and deposits 1.0 0.6 0.7 0.8 0.6 -0.7 -0.8 -0.4 -0.3 0.0 65

66 Debt securities 282.1 420.7 402.8 346.9 219.1 270.4 1302.5 1508.8 1645.9 1138.7 66

67 SDR certificates 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3.0 0.0 0.0 67

68 Treasury securities including savings bonds 257.1 398.4 362.5 307.3 183.7 237.5 1239.0 1443.7 1579.6 1066.8 68

69 Federal agency securities 0.5 -2.4 -0.6 -0.4 -0.3 -0.4 0.2 0.1 0.7 1.1 69

70 Nonmarketable securities held by pension plans 24.5 24.7 40.9 40.0 35.8 33.3 63.3 61.9 65.7 70.8 70

71 Loans (mortgages) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 71

72 Insurance, pension and standardized guarantee schemes 16.9 20.7 18.5 24.2 19.6 45.1 27.5 17.7 23.4 19.8 72

73 Insurance reserves 1.6 1.1 1.1 1.1 1.5 1.2 1.0 1.1 0.9 1.3 73

74 Retiree Health Care Funds 15.4 19.6 17.4 23.0 18.1 43.9 26.5 16.6 22.5 18.5 74

75 Other accounts payable 0.6 69.1 16.4 38.7 11.8 28.7 22.2 -53.2 8.5 22.4 75

76 Trade payables 1.0 71.7 15.4 33.7 6.2 29.3 22.6 -56.2 6.2 8.8 76

77 Other (miscellaneous liabilities) -0.4 -2.6 1.0 5.0 5.6 -0.6 -0.3 2.9 2.4 13.6 77

 Addendum:

78 Net lending (+) or borrowing (-), financial account (lines 36-63) -292.2 -476.9 -434.1 -380.4 -265.3 -344.0 -779.5 -1296.3 -1390.0 -1346.6 78

 Other changes in volume account

79 Total other volume changes -4.9 -86.9 -30.3 -34.2 7.5 16.6 72.4 150.0 81.4 40.5 79

80 Disaster losses 0.0 0.0 0.0 0.5 0.0 0.0 0.0 0.0 0.0 0.0 80

81 Other volume changes 9.3 -32.2 -23.0 -6.6 25.6 45.5 95.8 -11.0 -19.2 -6.9 81

82 Less: Statistical discrepancy (lines 34-[36-63]) (2) 14.2 54.7 7.3 28.0 18.0 28.9 23.3 -161.1 -100.5 -47.4 82

 Revaluation account

83 Nonfinancial assets 28.0 29.0 114.0 97.2 103.9 70.6 60.6 -44.0 33.9 57.1 83

84 Structures 24.6 25.9 92.4 88.7 86.6 57.7 48.9 -42.6 16.3 43.9 84

85 Equipment and software 3.4 3.1 21.5 8.5 17.3 12.9 11.7 -1.4 17.6 13.2 85

86 Financial assets 2.4 3.1 1.3 -2.1 0.8 0.7 -67.9 -121.6 -43.7 -40.5 86

87 Monetary gold and SDRs 0.9 1.1 0.5 -0.9 0.4 0.5 -0.2 0.2 -1.0 -0.1 87

88 Currency and deposits 1.5 2.1 0.8 -1.2 0.3 0.2 -0.0 0.3 -0.2 -7.8 88

89 Corporate equities 0.0 0.0 0.0 0.0 0.0 0.0 -67.7 -121.9 -41.5 -32.4 89

90 Equity investment under Public-Private Inv. Program 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -0.3 -1.0 -0.2 90

91 Liabilities 0.5 0.6 0.3 -0.6 0.4 0.4 -0.2 0.2 -1.0 -0.2 91

92 SDR allocations 0.5 0.6 0.3 -0.6 0.4 0.4 -0.2 0.2 -1.0 -0.2 92

93 Changes in net worth due to nominal holding gains/losses 29.9 31.5 115.0 95.7 104.3 70.9 -7.2 -165.8 -8.8 16.8 93

 Changes in balance sheet account

94 Change in net worth (lines 30+34+79+93) -251.7 -472.4 -333.7 -281.3 -134.6 -214.1 -681.7 -1448.4 -1380.6 -1313.3 94

 Balance sheet account (end of period)

95 Total assets 2131.5 2173.3 2277.1 2387.5 2498.5 2628.7 3298.0 3367.0 3660.2 3513.6 95

96 Nonfinancial assets (3) 1478.7 1513.6 1636.5 1743.8 1861.9 1947.5 2036.4 2024.3 2095.3 2176.1 96

97 Structures 972.5 998.0 1087.7 1171.1 1253.1 1308.6 1358.1 1320.4 1345.8 1394.4 97

98 Equipment and software 506.2 515.5 548.8 572.7 608.8 638.9 678.3 703.9 749.5 781.7 98

99 Financial assets 652.8 659.7 640.6 643.7 636.6 681.2 1261.5 1342.7 1564.8 1337.5 99

100 Monetary gold and SDRs 12.2 12.6 13.6 8.2 8.9 9.5 9.3 57.8 56.8 55.0 100

101 Monetary gold 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 101

102 SDR holdings 12.2 12.6 13.6 8.2 8.9 9.5 9.3 57.8 56.8 55.0 102
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2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

 

103 Currency and deposits 116.7 101.8 68.0 65.9 60.8 86.7 402.7 233.0 383.4 135.6 103

104 Official foreign currencies 16.9 19.9 21.4 18.9 20.5 22.5 24.8 25.2 26.0 25.8 104

105 Reserve position in IMF (net) 22.1 22.7 19.6 8.1 5.2 4.4 7.8 11.5 12.6 23.0 105

106 Currency and transferable deposits 47.5 54.1 21.9 36.8 32.9 56.5 368.0 193.6 342.1 84.3 106

107 Time and savings deposits 27.6 2.4 2.4 1.4 1.7 2.8 1.6 1.9 2.0 1.7 107

108 Nonofficial foreign currencies 2.6 2.8 2.8 0.6 0.6 0.5 0.5 0.7 0.8 0.7 108

109 Debt securities 0.0 0.0 0.0 0.0 0.0 0.0 54.4 197.0 150.1 31.9 109

110 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 54.4 196.4 149.2 31.1 110

111 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.6 0.9 0.8 111

112 Loans 275.0 272.4 274.7 273.8 275.2 281.1 311.9 464.9 596.8 714.3 112

113 Short term 199.9 199.8 200.5 197.2 194.9 198.8 216.1 356.5 490.2 603.7 113

114 Consumer credit 80.5 82.4 86.1 89.8 86.9 93.0 104.3 178.6 308.8 417.4 114

115 Other loans and advances 119.4 117.5 114.4 107.4 108.0 105.8 111.8 177.9 181.4 186.3 115

116 Long term (mortgages) 75.1 72.6 74.2 76.6 80.3 82.4 95.8 108.4 106.6 110.6 116

117 Equity and investment fund shares 38.6 40.0 42.0 43.2 45.3 46.9 237.0 118.2 106.1 117.0 117

118 Corporate equities 0.0 0.0 0.0 0.0 0.0 0.0 188.7 67.4 49.9 57.8 118

119 Equity in international organizations 38.6 40.0 42.0 43.2 45.3 46.9 48.3 50.0 52.3 54.9 119

120 Equity in government-sponsored enterprises (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 120

121 Equity investment under Public-Private Inv. Program 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.9 3.8 4.4 121

122 Other accounts receivable 210.4 232.8 242.3 252.5 246.5 257.0 246.2 271.8 271.7 283.7 122

123 Trade receivables 32.2 51.3 61.8 71.0 59.4 60.6 64.7 43.6 42.9 47.7 123

124 Taxes receivable 90.7 93.7 91.2 91.6 96.1 105.0 119.4 133.9 144.3 152.8 124

125 Other (miscellaneous assets) 87.6 87.9 89.3 89.9 91.0 91.4 62.0 94.3 84.5 83.2 125

126 Total liabilities and net worth 2131.5 2173.3 2277.1 2387.5 2498.5 2628.7 3298.0 3367.0 3660.2 3513.6 126

127 Liabilities 4604.4 5118.4 5556.0 5947.6 6193.2 6537.4 7888.4 9405.9 11079.7 12246.5 127

128 SDR allocations 6.7 7.3 7.6 7.0 7.4 7.7 7.5 55.4 54.4 54.2 128

129 Currency and deposits 25.5 26.0 26.7 27.5 28.1 27.4 26.6 26.2 25.9 25.9 129

130 Debt securities 4429.5 4850.2 5253.1 5587.0 5806.1 6076.5 7379.0 8887.8 10533.8 11672.5 130

131 SDR certificates 2.2 2.2 2.2 2.2 2.2 2.2 2.2 5.2 5.2 5.2 131

132 Treasury securities including savings bonds 3609.8 4008.2 4370.7 4678.0 4861.7 5099.2 6338.2 7781.9 9361.5 10428.3 132

133 Federal agency securities 27.3 24.9 24.3 23.8 23.5 23.1 23.3 23.5 24.2 25.3 133

134 Nonmarketable securities held by pension plans 790.3 815.0 855.9 882.9 918.7 952.0 1015.3 1077.2 1142.9 1213.7 134

135 Loans (mortgages) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 135

136 Insurance, pension and standardized guarantee schemes 54.7 75.5 93.9 118.1 137.7 182.7 210.2 227.9 251.3 271.1 136

137 Insurance reserves 39.4 40.5 41.6 42.7 44.2 45.4 46.4 47.5 48.4 49.7 137

138 Retiree Health Care Funds 15.4 35.0 52.4 75.4 93.5 137.3 163.8 180.4 202.9 221.4 138

139 Other accounts payable 88.0 159.5 174.6 208.1 214.0 243.1 265.1 208.6 214.4 222.8 139

140 Trade payables 82.0 153.6 169.0 202.7 208.9 238.2 260.8 204.6 210.8 219.6 140

141 Other (miscellaneous liabilities) 6.0 5.8 5.6 5.4 5.1 4.9 4.3 4.0 3.6 3.2 141

142 Net worth -2472.8 -2945.2 -3278.8 -3560.1 -3694.7 -3908.8 -4590.5 -6038.9 -7419.6 -8732.9 142

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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Billions of dollars; quarterly figures are seasonally adjusted annual rates

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

 

 Current account

 1 Gross value added 949.3 1001.8 1043.7 1098.8 1156.4 1223.2 1289.4 1321.6 1337.1 1353.3 1

 2 Less: Consumption of fixed capital 121.8 127.3 137.1 150.1 162.7 178.7 191.2 198.8 203.3 212.4 2

 3 Equals: Net value added 827.5 874.5 906.7 948.7 993.7 1044.6 1098.2 1122.8 1133.8 1140.9 3

 4 Compensation of employees (paid) 821.4 871.2 905.7 948.6 995.0 1053.6 1110.5 1133.9 1146.3 1154.8 4

 5 Wages and salaries 655.7 678.4 702.7 728.1 763.4 805.7 847.4 862.9 862.6 863.1 5

 6 Employers’ social contributions 165.7 192.8 203.0 220.5 231.6 248.0 263.1 270.9 283.7 291.6 6

 7 Operating surplus, net 6.1 3.3 1.0 0.1 -1.3 -9.1 -12.3 -11.1 -12.5 -13.8 7

 8 Net national income/Balance of primary incomes, net 677.4 709.5 761.2 832.0 896.2 929.9 928.0 909.6 928.2 953.2 8

 9 Operating surplus, net 6.1 3.3 1.0 0.1 -1.3 -9.1 -12.3 -11.1 -12.5 -13.8 9

10 Taxes on production and imports, receivable 676.0 717.5 769.1 831.4 887.4 932.7 944.6 931.8 959.5 990.4 10

11 Subsidies (paid) -0.9 -0.1 -0.4 -0.4 -0.4 -7.1 -3.0 -1.4 -1.6 -0.5 11

12 Property income (received) 79.6 74.0 77.1 88.3 103.5 114.5 106.8 95.0 88.8 86.4 12

13 Interest 71.5 64.6 66.7 76.4 90.9 100.6 91.9 81.8 75.7 73.0 13

14 Distributed income of corporations (dividends) 1.6 1.7 2.0 2.1 2.3 2.4 2.9 2.1 2.2 2.2 14

15 Rents on land and natural resources 6.6 7.6 8.5 9.8 10.3 11.5 12.0 11.1 10.9 11.2 15

16 Less: Uses of property income (interest paid) 83.5 85.1 85.6 87.3 93.0 101.1 108.1 104.8 106.0 109.2 16

17 Net national income/Balance of primary incomes, net 677.4 709.5 761.2 832.0 896.2 929.9 928.0 909.6 928.2 953.2 17

18 Plus: Current taxes on income, wealth, etc. (received) 252.7 260.2 290.3 331.7 361.6 380.9 381.7 333.1 345.1 370.4 18

19 Plus: Social benefits (received) 15.9 20.1 24.1 24.8 21.8 18.9 19.0 19.0 18.4 18.3 19

20 Less: Social contributions (paid) 333.0 353.4 384.3 404.8 402.9 433.7 456.7 495.1 528.3 538.5 20

21 Plus: Other current transfers (received) 382.3 421.3 439.4 454.3 456.7 485.1 505.0 593.6 643.2 612.7 21

22 Equals: Disposable income, net 995.3 1057.7 1130.7 1238.0 1333.4 1381.1 1377.0 1360.1 1406.6 1416.0 22

23 Less: Final consumption expenditures 1049.4 1096.5 1139.1 1212.0 1282.3 1368.9 1449.2 1473.3 1496.2 1518.0 23

24 Equals: Net saving -54.1 -38.8 -8.4 25.9 51.0 12.2 -72.2 -113.2 -89.7 -102.0 24

 Capital account

25 Net saving less capital transfers -1.7 12.6 39.2 75.7 108.4 71.2 -9.4 -46.7 -14.1 -29.5 25

26 Net saving -54.1 -38.8 -8.4 25.9 51.0 12.2 -72.2 -113.2 -89.7 -102.0 26

27 Less: Capital transfers paid (net) -52.4 -51.5 -47.5 -49.8 -57.4 -58.9 -62.8 -66.5 -75.6 -72.5 27

28 Capital formation, net 142.7 143.7 143.4 141.7 152.8 164.2 171.7 164.2 146.5 118.8 28

 Gross fixed capital formation (acquisition of

29 produced nonfinancial assets) 253.3 259.6 269.1 281.6 304.4 329.0 348.8 350.3 338.2 319.7 29

30 Less: Consumption of fixed capital 121.8 127.3 137.1 150.1 162.7 178.7 191.2 198.8 203.3 212.4 30

31 Acquisition of nonproduced nonfinancial assets 11.2 11.4 11.4 10.3 11.1 13.8 14.1 12.7 11.5 11.5 31

32 Net lending (+) or borrowing (-), capital account (lines 25-28) -144.4 -131.1 -104.2 -66.0 -44.3 -93.1 -181.1 -210.9 -160.5 -148.2 32

 Financial account

33 Net lending (+) or borrowing (-) (line 32) -144.4 -131.1 -104.2 -66.0 -44.3 -93.1 -181.1 -210.9 -160.5 -148.2 33

34 Net acquisition of financial assets 76.6 44.8 132.7 123.4 108.4 111.9 -104.6 -35.4 -16.5 -140.8 34

35 Currency and deposits 14.0 27.3 4.2 19.0 22.3 33.0 27.3 28.4 -1.3 32.0 35

36 Currency and transferable deposits 5.2 7.0 -3.5 15.8 5.4 -0.2 8.5 19.2 5.6 16.7 36

37 Time and savings deposits 8.8 20.3 7.7 3.2 16.9 33.3 18.8 9.3 -6.9 15.3 37

38 Debt securities 91.5 35.8 110.8 111.8 72.0 80.2 -190.9 -79.3 39.5 -83.7 38

39 Open market paper 14.3 2.9 8.0 -4.2 -2.8 -15.8 -81.9 -73.2 60.2 23.9 39

40 Treasury securities 26.2 10.2 46.7 94.3 45.8 36.4 -61.5 21.0 -7.9 -53.4 40

41 Agency- and GSE-backed securities (1) 41.7 16.7 41.6 15.6 21.0 43.9 -36.1 -31.1 -15.3 -47.0 41

42 Municipal securities 0.1 0.5 1.2 0.9 1.1 1.6 -0.1 0.9 0.8 -0.2 42

43 Corporate and foreign bonds 9.1 5.4 13.4 5.1 6.9 14.2 -11.4 3.0 1.7 -6.9 43

44 Loans -21.7 9.9 25.1 6.0 9.5 23.6 -29.0 0.6 -9.2 -15.1 44

45 Short term (security repurchases) -16.3 3.2 8.3 -0.9 0.4 6.4 -15.7 -3.8 -5.1 -8.3 45

46 Long term (mortgages) -5.3 6.8 16.8 7.0 9.1 17.3 -13.3 4.5 -4.1 -6.8 46

47 Equity and investment fund shares 14.0 -19.0 8.6 5.8 -0.4 16.6 19.9 11.4 -12.5 -11.9 47

48 Money market fund shares 1.6 5.9 14.0 9.5 11.1 17.3 -3.3 8.9 7.9 -3.3 48

49 Corporate equities 10.3 -19.6 -5.4 -4.2 -10.0 -1.9 7.6 10.4 -15.5 -6.6 49

50 Mutual fund shares 2.1 -5.2 0.0 0.5 -1.6 1.2 15.6 -7.9 -4.9 -2.0 50

51 Other accounts receivable -21.2 -9.2 -16.0 -19.3 5.0 -41.6 68.2 3.4 -32.9 -62.0 51

52 Trade receivables 2.6 -2.5 -4.7 -14.4 -14.4 -12.5 -22.3 -18.6 -19.3 -9.7 52

53 Taxes receivable 2.5 0.9 11.3 15.4 11.4 2.7 2.2 -6.7 -2.2 6.9 53

54 Other (miscellaneous assets) -26.2 -7.6 -22.6 -20.3 8.0 -31.9 88.3 28.7 -11.4 -59.2 54
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2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

 

55 Net incurrence of liabilities 172.8 149.5 209.0 173.8 135.4 183.7 57.1 152.7 109.6 -12.5 55

56 Debt securities (municipals) 143.9 120.5 178.5 141.1 100.3 146.0 17.1 112.2 68.7 -53.6 56

57 Short term 25.2 10.4 22.2 -1.7 -8.2 16.8 4.6 7.8 -0.7 -10.6 57

58 Other 118.7 110.1 156.3 142.8 108.5 129.2 12.5 104.4 69.3 -42.9 58

59 Loans (short term) 0.6 0.1 0.3 0.6 0.6 0.7 0.8 0.8 0.9 0.9 59

60 Other accounts payable (trade payables) 28.3 29.0 30.2 32.1 34.4 37.0 39.2 39.6 40.0 40.2 60

 Addendum:

61 Net lending (+) or borrowing (-), financial account (lines 34-55) -96.2 -104.7 -76.3 -50.4 -27.0 -71.8 -161.7 -188.1 -126.0 -128.3 61

 Other changes in volume account

62 Total other volume changes 37.5 11.4 -641.8 -1.8 -13.1 108.0 9.6 19.2 8.4 8.6 62

63 Disaster losses 0.0 0.0 0.0 10.7 0.0 0.0 0.0 0.0 0.0 0.0 63

64 Other volume changes -10.7 -14.9 -669.8 -28.1 -30.4 86.8 -9.8 -3.7 -26.1 -11.3 64

65 Less: Statistical discrepancy (lines 32-[34-55]) (2) -48.2 -26.3 -28.0 -15.5 -17.3 -21.2 -19.4 -22.8 -34.5 -20.0 65

 Revaluation account

66 Nonfinancial assets 112.5 92.6 498.1 444.6 575.3 488.0 460.0 -134.1 188.9 414.5 66

67 Structures 113.8 93.4 494.6 442.0 573.3 485.9 450.8 -134.2 188.6 408.5 67

68 Equipment and software -1.3 -0.8 3.5 2.6 2.0 2.1 9.1 0.1 0.2 6.0 68

69 Equity and investment fund shares -25.0 28.8 15.4 5.5 14.8 11.1 -59.5 19.4 18.7 1.4 69

70 Changes in net worth due to nominal holding gains/losses 87.5 121.3 513.5 450.1 590.1 499.1 400.5 -114.7 207.5 415.9 70

 Changes in balance sheet account

71 Change in net worth (lines 28+32+62+70) 123.3 145.4 -89.1 524.1 685.5 678.2 400.7 -142.3 201.9 395.1 71

 Balance sheet account (end of period)

72 Total assets 6555.6 6850.5 7671.3 8369.2 9190.0 10051.9 10509.7 10520.1 10831.6 11214.2 72

73 Nonfinancial assets (3) 4755.7 4981.3 5606.0 6174.9 6894.6 7535.2 8152.9 8170.3 8494.1 9016.0 73

74 Structures 4545.4 4765.2 5387.4 5945.3 6653.3 7278.7 7874.9 7883.2 8199.6 8708.8 74

75 Equipment and software 210.3 216.1 218.6 229.6 241.3 256.5 278.0 287.0 294.5 307.1 75

76 Financial assets 1799.9 1869.3 2065.3 2194.3 2295.4 2516.7 2356.8 2349.8 2337.5 2198.2 76

77 Currency and deposits 185.5 212.8 217.0 236.1 258.4 291.4 318.8 347.2 345.9 377.9 77

78 Currency and transferable deposits 46.8 53.8 50.4 66.2 71.6 71.4 79.9 99.1 104.6 121.4 78

79 Time and savings deposits 138.7 159.0 166.7 169.9 186.8 220.0 238.9 248.1 241.3 256.5 79

80 Debt securities 943.0 978.7 1089.5 1201.4 1273.4 1353.6 1162.7 1083.4 1122.9 1039.2 80

81 Open market paper 151.3 154.2 162.1 157.9 155.1 139.3 57.4 -15.8 44.4 68.3 81

82 Treasury securities 354.7 364.9 411.6 505.9 551.7 588.1 526.7 547.7 539.8 486.3 82

83 Agency- and GSE-backed securities (1) 328.8 345.5 387.1 402.7 423.7 467.6 431.4 400.3 385.0 338.1 83

84 Municipal securities 4.1 4.6 5.9 6.8 7.9 9.5 9.4 10.3 11.1 10.9 84

85 Corporate and foreign bonds 104.2 109.6 122.9 128.1 135.0 149.1 137.8 140.8 142.5 135.6 85

86 Loans 239.9 249.9 274.9 281.0 290.4 314.1 285.1 285.7 276.5 261.3 86

87 Short term (security repurchases) 115.6 118.7 127.0 126.1 126.5 132.8 117.2 113.3 108.3 100.0 87

88 Long term (mortgages) 124.4 131.1 147.9 154.9 164.0 181.2 167.9 172.4 168.2 161.4 88

89 Equity and investment fund shares 162.2 172.0 196.0 207.4 221.7 249.4 209.8 240.6 246.7 236.2 89

90 Money market fund shares 58.7 64.5 78.6 88.1 99.3 116.6 113.3 122.2 130.1 126.8 90

91 Corporate equities 79.3 81.6 87.8 87.6 88.4 94.5 60.5 80.9 77.9 72.3 91

92 Mutual fund shares 24.3 25.8 29.7 31.6 34.0 38.4 36.1 37.6 38.8 37.2 92

93 Other accounts receivable 269.3 255.9 287.7 268.5 251.4 308.2 380.5 392.9 345.5 283.5 93

94 Trade receivables 118.4 115.9 111.2 96.8 82.4 69.9 47.6 29.0 9.7 0.0 94

95 Taxes receivable 74.0 74.9 86.2 101.6 112.9 115.7 117.9 111.1 104.7 110.0 95

96 Other (miscellaneous assets) 76.9 65.0 90.3 70.2 56.1 122.6 215.1 252.7 231.1 173.5 96

97 Total liabilities and net worth 6555.6 6850.5 7671.3 8369.2 9190.0 10051.9 10509.7 10520.1 10831.6 11214.2 97

98 Liabilities 1838.6 1988.1 2898.0 3071.9 3207.2 3390.9 3448.1 3600.7 3710.3 3697.8 98

99 Debt securities (municipals) 1438.3 1558.8 2438.2 2579.2 2679.6 2825.6 2842.7 2954.9 3023.6 2970.0 99

100 Short term 95.7 106.1 44.2 42.5 34.3 51.2 55.8 63.6 63.0 52.3 100

101 Other 1342.6 1452.7 2393.9 2536.7 2645.2 2774.4 2786.9 2891.3 2960.6 2917.6 101
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2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

 

102 Loans (short term) 9.6 9.7 10.0 10.6 11.2 11.9 12.7 13.5 14.4 15.3 102

103 Other accounts payable (trade payables) 390.7 419.7 449.9 482.0 516.4 553.5 592.7 632.3 672.3 712.5 103

104 Net worth 4717.0 4862.4 4773.2 5297.3 5982.8 6661.0 7061.7 6919.4 7121.3 7516.4 104

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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S.9.a Rest of the World 

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

 

 Current account

 1 Foreign income from U.S. 1768.1 1910.5 2253.4 2618.6 2990.5 3248.7 3381.9 2612.0 3009.8 3343.7 1

 2 U.S. imports of goods and services 1430.2 1545.1 1798.9 2027.8 2240.3 2374.8 2556.5 1976.2 2356.1 2662.3 2

 3 U.S. income payments to rest of world 264.4 284.6 357.4 475.9 648.6 747.7 686.9 498.9 507.2 531.8 3

 4 Current taxes and trans. payments to rest of world 73.5 80.7 97.1 115.0 101.5 126.2 138.4 137.0 146.5 149.6 4

 5 Less: Foreign outlays to U.S. 1316.5 1394.3 1628.8 1878.1 2192.1 2532.6 2702.9 2229.9 2560.9 2877.9 5

 6 U.S. exports of goods and services 1003.0 1041.0 1180.2 1305.1 1471.0 1661.7 1846.8 1587.4 1844.4 2094.2 6

 7 U.S. income receipts from rest of world 313.5 353.3 448.6 573.0 721.1 871.0 856.1 642.4 716.5 783.7 7

 8 Equals: Net saving (current external balance) 451.6 516.1 624.6 740.5 798.4 716.0 679.0 382.2 448.8 465.8 8

 Capital account

 9 Net saving 451.6 516.1 624.6 740.5 798.4 716.0 679.0 382.2 448.8 465.8 9

10 Less: Net capital transfers -0.6 -2.2 2.8 12.8 -2.0 -0.4 5.4 -0.6 -0.7 -1.6 10

11 Less: Acquisition of nonproduced nonfinancial assets 0.1 0.1 0.0 0.1 -0.1 0.5 -0.0 0.0 -0.0 -0.1 11

12 Net lending (+) or borrowing (-), capital account (lines 9-10-11) 452.1 518.2 621.8 727.7 800.5 715.9 673.6 382.7 449.5 467.5 12

 Financial account

13 Net lending (+) or borrowing (-) (line 12) 452.1 518.2 621.8 727.7 800.5 715.9 673.6 382.7 449.5 467.5 13

14 Net acquisition of U.S. financial assets 770.4 820.4 1398.6 1100.3 1854.1 1766.9 584.4 168.2 1148.0 1043.4 14

15 Monetary gold and SDRs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 47.6 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 47.6 0.0 0.0 17

18 Currency and deposits 63.1 53.8 39.7 28.9 54.8 -76.6 540.2 -322.7 -1.7 336.0 18

19 Currency 18.9 10.6 13.3 8.4 2.2 -10.7 29.2 12.6 28.3 55.0 19

20 Transferable deposits -0.6 4.0 9.1 6.4 9.2 5.2 34.8 -21.8 1.2 26.8 20

21 Time deposits 41.2 5.2 34.1 6.7 11.5 40.3 65.5 -43.1 16.9 33.1 21

22 Net interbank items due from U.S. banks 3.6 34.0 -16.8 7.3 31.9 -111.4 410.8 -270.4 -48.2 221.1 22

23 Debt securities 457.1 583.6 848.1 720.7 967.4 841.1 421.9 167.5 643.1 318.9 23

24 Open market paper 18.1 66.2 37.0 9.9 46.7 -8.3 -45.1 -41.4 -0.5 0.7 24

25 Treasury securities 160.9 276.4 366.9 245.1 150.3 165.3 711.6 554.4 739.8 412.1 25

26 Agency- and GSE-backed securities (1) 127.1 12.3 178.2 134.3 224.0 248.8 -228.6 -226.0 -72.3 -24.2 26

27 Municipal securities 3.5 8.0 6.5 3.0 5.4 10.7 5.9 7.7 13.1 -1.4 27

28 Corporate bonds 147.5 220.8 259.5 328.5 541.0 424.6 -21.8 -127.3 -37.0 -68.3 28

29 Loans (short term) 25.6 86.0 76.5 76.8 8.6 67.1 -258.7 -190.3 -146.3 85.1 29

30 Security repurchases (net) 15.5 86.9 70.3 45.5 2.4 -35.2 -214.0 -146.4 -126.1 51.2 30

31 Loans to U.S. corporate business 10.1 -0.8 6.3 31.3 6.2 102.3 -44.7 -44.0 -20.2 33.9 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 138.4 97.7 207.8 201.9 388.6 496.8 436.9 369.7 383.4 261.3 33

34 Money market fund shares 1.1 2.6 4.1 0.1 4.1 19.0 23.7 7.2 -7.1 -20.8 34

35 Corporate equities 54.4 5.2 25.0 56.9 96.2 217.6 105.8 154.9 73.2 -99.3 35

36 Mutual fund shares -1.5 26.2 32.7 32.3 45.2 39.1 -2.7 57.2 111.5 147.4 36

37 Foreign direct investment in the United States 84.4 63.8 146.0 112.6 243.2 221.2 310.1 150.4 205.8 234.0 37

38 Other accounts receivable 86.2 -0.8 226.5 72.0 434.7 438.5 -555.9 96.4 269.6 42.1 38

39 Trade receivables 2.6 1.3 -1.1 7.9 5.9 20.8 6.5 6.6 19.6 17.2 39

40 Other (miscellaneous assets) 83.6 -2.1 227.5 64.1 428.8 417.7 -562.4 89.8 250.0 24.9 40

41 Net incurrence of liabilities 270.0 289.4 863.2 386.5 1046.7 1149.3 -152.2 -71.3 765.3 488.2 41

42 SDR holdings 0.5 -0.6 0.4 -4.5 0.2 0.2 0.1 48.2 0.0 -1.8 42

43 Currency and deposits 24.3 35.2 86.6 29.0 84.6 255.8 -389.5 -101.8 27.8 -14.9 43

44 Official foreign currencies 0.6 0.6 0.6 0.6 0.7 1.0 1.3 0.7 0.5 -0.5 44

45 Reserve position in IMF (net) 2.6 -1.5 -3.8 -10.2 -3.3 -1.0 3.5 3.4 1.3 18.1 45

46 U.S. private deposits 21.0 36.0 89.9 40.8 87.2 256.0 -394.3 -106.0 25.9 -32.4 46

47 Nonofficial foreign currencies 0.1 0.2 -0.0 -2.2 -0.0 -0.1 0.0 0.2 0.1 -0.1 47

48 Debt securities 90.4 47.6 155.0 103.1 326.2 149.4 -229.8 222.7 57.2 4.3 48

49 Commercial paper 58.8 18.9 69.2 38.6 98.4 -69.3 -71.0 59.4 -2.7 -53.5 49

50 Bonds 31.6 28.7 85.8 64.5 227.8 218.7 -158.8 163.3 59.9 57.8 50

51 Loans (short term) 3.0 -4.6 0.2 9.9 6.4 44.9 533.3 -554.3 7.9 130.3 51

52 Other loans and advances -2.3 -2.1 -3.6 -4.6 -7.4 -3.2 -1.5 0.3 0.2 1.4 52

53 Depository institution loans n.e.c. 5.3 -2.5 3.8 14.5 13.8 24.1 5.1 -11.2 17.9 29.2 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 24.0 529.7 -543.5 -10.2 99.7 55
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56 Equity and investment fund shares 172.3 313.1 377.4 243.8 425.6 605.7 282.8 378.3 419.9 541.6 56

57 Corporate equities 17.0 118.0 84.8 186.7 137.3 147.8 -38.5 63.7 79.1 89.0 57

58 U.S. government equity in IBRD, etc. 1.5 1.4 2.0 1.3 2.0 1.7 1.4 1.7 2.3 2.6 58

59 U.S. direct investment abroad 154.5 149.6 316.2 36.2 244.9 414.0 329.1 289.5 327.9 419.3 59

60 Investment by holding companies -0.6 44.1 -25.6 19.6 41.3 42.2 -9.1 23.5 10.6 30.6 60

61 Other accounts payable -20.5 -101.3 243.5 5.1 203.7 93.3 -349.2 -64.3 252.5 -171.3 61

62 Trade payables -4.9 6.1 3.5 6.3 6.2 12.4 -9.9 6.1 25.8 -32.2 62

63 Other (miscellaneous liabilities) -15.5 -107.4 240.0 -1.1 197.5 80.9 -339.3 -70.5 226.7 -139.1 63

 Addendum:

64 Net lending, financial account (lines 14-41) 500.4 531.1 535.4 713.8 807.4 617.6 736.6 239.5 382.7 555.1 64

 Other changes in volume account

65 Total other volume changes 28.0 -117.8 -81.7 -274.6 74.3 -252.0 -284.8 -444.9 -244.9 158.5 65

66 Other volume changes -20.3 -130.6 4.7 -260.7 67.4 -153.7 -347.8 -301.7 -178.1 70.8 66

67 Less: Statistical discrepancy (lines 12-[14-41]) (2) -48.3 -12.8 86.4 13.9 -6.9 98.3 -63.0 143.2 66.8 -87.7 67

 Revaluation account

68 Financial assets -407.7 438.0 182.2 -53.9 382.5 264.3 -1610.5 492.7 595.6 372.3 68

69 SDR allocations 0.5 0.6 0.3 -0.6 0.4 0.4 -0.2 0.2 -1.0 -0.2 69

70 Debt securities -14.3 -49.7 -55.8 -195.4 34.8 129.1 -125.7 76.2 152.6 270.4 70

71 Treasury securities 29.4 -48.4 -66.9 -74.3 -8.5 85.0 164.9 -136.8 56.2 192.5 71

72 Agency- and GSE-backed securities -0.6 12.5 41.7 3.4 26.7 70.0 53.2 -26.0 1.4 29.7 72

73 Corporate bonds -43.1 -13.8 -30.7 -124.4 16.6 -26.0 -343.8 239.1 94.9 48.2 73

74 Equity and investment fund shares -393.8 487.0 237.7 142.1 347.3 134.8 -1484.6 416.3 444.0 102.0 74

75 Corporate equities -273.8 447.8 205.0 77.5 312.8 145.6 -1110.0 514.7 412.1 -79.7 75

76 Mutual fund shares -17.1 21.9 17.0 14.0 29.6 18.5 -116.0 51.2 38.2 74.2 76

77 Foreign direct investment in the United States -102.9 17.3 15.8 50.6 4.9 -29.3 -258.6 -149.6 -6.3 77.1 77

78 Liabilities -115.5 771.2 558.0 642.1 964.8 1059.5 -2783.4 1345.3 581.1 -613.4 78

79 SDR holdings 0.9 1.1 0.5 -0.9 0.4 0.5 -0.2 0.2 -1.0 -0.1 79

80 Currency and deposits 5.8 7.4 3.1 -6.7 2.7 4.1 2.5 0.6 0.9 -7.5 80

81 Official foreign currencies 4.3 5.3 2.4 -5.5 2.4 3.9 2.5 0.3 1.0 0.3 81

82 Reserve position in IMF (net) 1.5 2.1 0.8 -1.2 0.3 0.2 -0.0 0.3 -0.2 -7.8 82

83 U.S. private deposits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 83

84 Nonofficial foreign currencies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 84

85 Debt securities (corporate bonds) 114.1 137.5 30.2 -37.9 36.2 92.8 -191.0 169.7 59.2 16.5 85

86 Equity and investment fund shares -236.2 625.3 524.0 687.6 925.5 962.1 -2594.7 1174.7 522.0 -622.3 86

87 Corporate equities -255.6 587.4 396.2 570.6 873.9 771.2 -2461.0 1183.2 572.5 -577.7 87

88 U.S. direct investment abroad 19.5 37.9 127.8 117.0 51.5 190.9 -133.7 -8.5 -50.5 -44.6 88

89 Changes in net worth due to nominal holding gains/losses -292.2 -333.3 -375.8 -695.9 -582.3 -795.3 1173.0 -852.5 14.5 985.7 89

 Changes in balance sheet account

90 Change in net worth (lines 12+65+89) 187.9 67.2 164.4 -242.8 292.5 -331.3 1561.8 -914.7 219.1 1611.7 90

 Financial balance sheet account (end of period) (3)

91 Total financial assets 7850.7 8851.6 10579.1 11599.4 14067.7 16037.6 15239.6 15806.6 17405.5 18801.8 91

92 SDR allocations 6.7 7.3 7.6 7.0 7.4 7.7 7.5 55.4 54.4 54.2 92

93 Currency and deposits 525.4 520.6 560.3 589.2 644.0 567.4 1107.7 785.0 783.3 1119.3 93

94 Currency 248.1 258.7 272.0 280.4 282.6 272.0 301.1 313.8 342.1 397.1 94

95 Transferable deposits 25.3 4.2 13.3 19.7 28.9 34.2 69.0 47.2 48.4 75.2 95

96 Time deposits 143.3 115.0 149.2 155.9 167.4 207.6 273.1 230.0 246.9 280.0 96

97 Net interbank items due from U.S. banks 108.7 142.7 125.9 133.2 165.1 53.7 464.5 194.0 145.9 367.0 97

98 Debt securities 3177.2 3711.1 4503.4 5028.8 6030.9 7001.1 7297.3 7541.0 8336.6 8925.9 98

99 Open market paper 126.6 192.8 229.8 239.6 286.3 278.1 232.9 191.5 191.0 191.7 99

100 Treasury securities 1285.5 1513.5 1813.6 1984.4 2126.2 2376.4 3253.0 3670.6 4466.6 5071.1 100

101 Agency- and GSE-backed securities (1) 630.6 655.3 875.2 1012.9 1263.6 1582.4 1406.9 1154.9 1084.0 1089.6 101

102 Municipal securities 11.5 19.5 26.0 29.0 34.4 45.1 51.0 58.7 71.7 70.3 102

103 Corporate bonds 1123.0 1330.0 1558.9 1762.9 2320.5 2719.1 2353.5 2465.3 2523.3 2503.2 103
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104 Loans (short term) 154.4 240.4 316.9 393.8 533.4 609.5 341.3 213.5 66.2 151.3 104

105 Security repurchases (net) 28.5 115.4 185.7 231.2 364.6 338.4 114.9 31.0 -96.1 -44.9 105

106 Loans to U.S. corporate business 125.8 125.0 131.2 162.5 168.8 271.1 226.4 182.5 162.3 196.1 106

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 2835.7 3420.5 3866.0 4210.0 4946.0 5577.6 4529.8 5315.9 6143.3 6506.6 108

109 Money market fund shares 16.3 18.8 22.9 23.0 27.0 46.0 69.7 76.9 69.8 79.5 109

110 Corporate equities 1221.6 1674.6 1904.6 2039.1 2448.1 2811.3 1807.1 2476.7 2962.0 2783.0 110

111 Mutual fund shares 98.0 146.1 195.8 242.0 316.8 374.3 255.6 364.1 513.8 735.4 111

112 Foreign direct investment in the United States 1500.0 1581.0 1742.7 1906.0 2154.1 2345.9 2397.4 2398.2 2597.7 2908.8 112

113 Other accounts receivable 1151.3 951.7 1324.8 1370.7 1906.1 2274.2 1955.9 1895.9 2021.7 2044.5 113

114 Trade receivables 48.8 50.1 49.0 56.9 62.8 83.6 90.1 96.7 116.3 133.5 114

115 Other (miscellaneous assets) 1102.5 901.6 1275.8 1313.8 1843.3 2190.6 1865.9 1799.2 1905.4 1911.0 115

116 Total liabilities and net worth 7850.7 8851.6 10579.1 11599.4 14067.7 16037.6 15239.6 15806.6 17405.5 18801.8 116

117 Total liabilities 5715.4 6649.2 8212.3 9475.4 11651.2 13952.4 11592.7 13074.4 14454.2 14238.9 117

118 SDR holdings 12.2 12.6 13.6 8.2 8.9 9.5 9.3 57.8 56.8 55.0 118

119 Currency and deposits 889.6 932.1 1021.9 1044.2 1131.5 1391.4 1004.4 903.2 931.9 909.5 119

120 Official foreign currencies 33.8 39.7 42.7 37.8 40.9 45.8 49.6 50.5 52.1 51.9 120

121 Reserve position in IMF (net) 22.0 22.5 19.5 8.0 5.0 4.2 7.7 11.4 12.5 22.8 121

122 U.S. private deposits 831.1 867.1 957.0 997.8 1085.0 1340.9 946.7 840.6 866.5 834.1 122

123 Nonofficial foreign currencies 2.6 2.8 2.8 0.6 0.6 0.5 0.5 0.7 0.8 0.7 123

124 Debt securities 960.0 1145.1 1330.3 1395.5 1757.8 2000.1 1579.3 1971.7 2088.1 2108.9 124

125 Commercial paper 257.2 276.1 345.3 384.0 482.3 413.0 342.0 401.3 398.6 345.1 125

126 Bonds 702.7 868.9 985.0 1011.6 1275.5 1587.1 1237.3 1570.3 1689.5 1763.8 126

127 Loans (short term) 112.9 108.2 108.5 118.4 124.8 150.2 683.3 128.9 137.3 267.6 127

128 Other loans and advances 44.3 42.2 38.6 34.0 26.6 23.4 21.6 21.9 22.1 23.5 128

129 Depository institution loans n.e.c. 68.6 66.1 69.9 84.4 98.3 102.8 107.9 96.8 115.1 144.3 129

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 24.0 553.7 10.3 0.1 99.8 131

132 Equity and investment fund shares 3268.5 4207.0 5108.4 6039.8 7390.8 8958.6 6646.8 8199.8 9141.7 9060.9 132

133 Corporate equities 1374.0 2079.4 2560.4 3317.7 4329.0 5248.0 2748.4 3995.3 4646.9 4158.2 133

134 U.S. government equity in IBRD, etc. 38.6 40.0 42.0 43.2 45.3 46.9 48.3 50.0 52.3 54.9 134

135 U.S. direct investment abroad 1867.0 2054.5 2498.5 2651.7 2948.2 3553.1 3748.5 4029.5 4306.8 4681.6 135

136 Investment by holding companies -11.1 33.1 7.5 27.1 68.4 110.6 101.5 125.1 135.6 166.3 136

137 Other accounts payable 472.4 244.1 629.6 869.3 1237.4 1442.6 1669.6 1813.1 2098.4 1837.0 137

138 Trade payables 38.6 44.7 48.2 54.5 60.7 73.1 63.2 69.3 95.1 63.0 138

139 Other (miscellaneous liabilities) 433.8 199.4 581.4 814.8 1176.7 1369.5 1606.4 1743.7 2003.3 1774.0 139

140 Net worth (external account) 2135.3 2202.5 2366.8 2124.0 2416.5 2085.2 3646.9 2732.2 2951.3 4562.9 140

(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