F EDERAL RESERVE S TATISTICAL RELEASE

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

September 25, 2013 

Z.1 

Financial Accounts 

of the United States 

Flow of Funds, Balance Sheets, 

and Integrated Macroeconomic Accounts

Second Quarter 2013 

 

B OARD OF G OVERNORS OF THE F EDERAL RESERVE S YSTEM
 
Z.1 

Financial Accounts 

of the United States 

Flow of Funds, Balance Sheets, 

and Integrated Macroeconomic Accounts

Second Quarter 2013

B OARD OF G OVERNORS OF THE F EDERAL RESERVE S YSTEM

F EDERAL RESERVE S TATISTICAL RELEASE
 
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 49,503 8.0 11.8 2.2 8.3 10.9 

2004 56,574 9.3 11.1 6.7 11.4 9.0 

2005 62,786 9.3 11.2 9.0 5.8 7.0 

2006 67,386 8.7 10.0 11.0 3.9 3.9 

2007 67,919 8.5 6.7 13.6 5.5 4.9 

2008 57,214 5.9 0.0 6.3 0.6 24.2 

2009 58,920 3.1 -1.7 -2.2 4.0 22.7 

2010 63,308 4.1 -2.5 1.5 2.3 20.2 

2011 64,697 3.7 -1.4 4.8 -1.7 11.4 

2012 70,641 4.9 0.2 6.0 -0.2 10.9 

2011: Q2 65,247 2.7 -2.6 5.6 -2.7 8.0 

 Q3 62,889 4.7 -1.0 4.2 -0.3 14.4 

 Q4 64,697 4.6 -0.1 5.1 -1.6 12.1 

2012: Q1 67,062 4.7 -1.1 4.4 0.4 13.5 

 Q2 67,131 5.3 1.4 4.9 2.9 11.0 

 Q3 69,336 3.0 -1.6 5.1 -0.2 7.1 

 Q4 70,641 6.2 2.1 9.1 -3.8 10.4 

2013: Q1 73,479 4.5 -0.5 4.9 2.4 10.1 

 Q2 74,821 3.1 0.2 6.9 1.1 2.5 

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 $74.8 

trillion at the end of the second quarter of this year, 

about $1.3 trillion more than at the end of the first 

quarter. In the second quarter, the value of residential 

real estate owned by households increased about $525 

billion, while the value of corporate equities and mutual 

funds rose almost $300 billion . 

Domestic nonfinancial debt outstanding was $41 

trillion at the end of the second quarter, of which 

household debt was close to $13 trillion, nonfinancial 

business debt was $13.1 trillion, and total government 

debt was almost $15 trillion. 

Domestic nonfinancial debt growth was 3.1 percent at 

a seasonally adjusted annual rate in the second quarter of 

2013, about 11⁄2 percentage point less than the pace in 

the first quarter. 

Household debt edged up at an annual rate of 0.2 

percent in the second quarter. Home mortgage debt 

contracted 1.7 percent, following a decline of 2.1 

percent in the first quarter. Consumer credit rose at an 

annual rate of 5.6 percent, about 1⁄2 percentage point less 

than in the previous quarter. 

Nonfinancial business debt rose at an annual rate of 6.9 

percent in the second quarter, after a 4.9 percent increase 

in the previous quarter. As in recent years, corporate 

bonds accounted for most of the increase. 

State and local government debt rose at an annual rate 

of 1.1 percent in the second quarter, 11⁄4 percent less than 

in the first quarter. 

Federal government debt rose at an annual rate of 2.5 

percent in the second quarter, well below the 10.1 

percent increase in the first quarter.

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, was renamed Financial Accounts 

of the United States in June 2013. This change reflects the 

expansion of the publication to include flow of funds data, 

balance sheets, and Integrated Macroeconomic Accounts. The 

new title is also better aligned with international terminology. 

The title of the online Guide has been changed to Guide to the 

Financial Accounts of the United States. 

Student loans The consumer credit tables (tables F.222 and L.222) have been 

expanded to include additional detail on student loans. 

Nonprofit organizations (which are in the households and 

nonprofit organizations sector) are now shown as a provider of 

student loans. In addition, a memo item has been added that 

breaks consumer credit down into four categories: credit cards, 

auto loans, student loans, and other loans. The series on 

student loans begins in 2006:Q1. Conforming changes will be 

reflected in the upcoming G.19 release on October 7, 2013. 

State and local government assets Asset holdings of state and local governments (tables F.104 and 

L.104) were revised from 2003:Q3 forward based on improved 

methodology. 

Real estate investment trusts 

(REITs) 

Additional detail on real estate investment funds (REITs) (tables 

F.127 and L.127) is now available on supplementary tables. 

Equity REITs are shown on tables F.127.e and L.127.e and 

mortgage REITs are shown separately on tables F.127.m and 

L.127.m. 

2013 comprehensive revision of the 

National Income and Product 

Accounts 

The statistics in this publication reflect the 2013 comprehensive 

revision of the National Income and Product Accounts (NIPA), 

released by the Bureau of Economic Analysis (BEA) on July 31, 

2013, as well as information for 2013:Q2 released by BEA on 

August 29, 2013. See the August 2013 issue of Survey of 

Current Business, pages 6-10, for details on the 2013 

comprehensive revision. Major related changes to the Financial 

Accounts of the United States are described in the items below. 

Fixed assets Data for investment and depreciation flows and capital stocks of 

all sectors have been revised to reflect BEA’s new concept of 

fixed assets as part of the comprehensive revision. Under the 

new concept, fixed investment now includes expenditures for 

research and development and entertainment, literary, and 

artistic originals. Reflecting this change, a new category called 

“intellectual property products” is now shown on tables B.100, 

B.102, B.103, R.100, R.102, R.103 and in the Integratated 

Macroeconomic Accounts. The new category includes the two 

new items plus expenditures on software. 

Release Highlights 

Second Quarter 2013 
iv 

Topic Description 

Wage accruals less disbursements Flow tables F.7, F.12, F.104, and F.105 and Integrated 

Macroeconomic Accounts table S.7.a have been revised to 

remove the item “wage accruals less disbusements.” As 

described in the March 2013 Survey of Current Business, pages 

25-26, the BEA’s estimates of wages and salaries in personal 

income have been converted from a disbursement basis to an 

accrual basis to be consistent with the treatment in GDI and 

national income. 

Pension entitlements The 2013 comprehensive revision moves the NIPA accounting 

for defined-benefit (DB) pensions from a cash basis (related to 

the sponsors’ funding of the plans) to an accrual basis (related 

to households’ earnings of pension benefits). In a conforming 

change that is also consistent with the international standards 

recommended in the System of National Accounts (SNA 2008), 

the Financial Accounts of the United States now account for the 

level and flow of “pension entitlements,” which are the present 

value of accrued DB benefits. Where previously only the assets 

of DB plans were tracked (and treated as an asset of the 

household sector), now pension entitlements are shown as an 

asset of the household sector and as a liability of the pension 

fund sectors (i.e., private pension funds, state and local 

government employee retirement funds, and federal government 

employee retirement funds). The difference between pension 

entitlements and pension fund assets (i.e., underfunding or 

overfunding) is now shown as “claims of pension fund on 

sponsor,” which is an asset of the pension funds and a liability of 

the sponsors of the funds (i.e., nonfinancial corporate business, 

state and local governments, and the federal government). A 

memo item has been added to the pension-fund levels tables 

(tables L.116 through L.119), showing the funded status of the 

DB plans. Because aggregate pension entitlements exceed 

pension fund assets, the new accounting has led to an upward 

revision to household net worth relative to the previous 

publication of the Financial Accounts of the United States. 

Finally, to summarize the three pension sectors, new tables 

titled “Private and Public Pension Funds” (tables F.116 and 

L.116) have been added, which aggregate the three pension 

sectors and include memo items reporting household retirement 

assets in tax-deferred accounts: DB and DC (definedcontribution) pension plans, individual retirement accounts 

(IRAs), and annuities at life insurance companies. 

Life insurance reserves and 

pension entitlements 

The table on life insurance and pension reserves (tables F.225 

and L.225) has been split into two separate tables. Life 

insurance reserves are now shown on tables F.225 and L.225 

and pension entitlements (rather than pension fund reserves) 

are now shown on tables F.226 and L.226. The instrument 

tables that follow have been renumbered. The supplementary 

tables on IRAs (tables F.225.i and L.225.i) have been 

renumbered to tables F.226.i and L.226.i. 
v 

Topic Description 

Balance sheet for households and 

nonprofit organizations with equity 

detail 

Supplementary table B.100.e has been restructured to conform 

to the new concept of pension entitlements. Previously, assets 

of DB pension funds were treated as assets of the household 

sector. Now, pension entitlements (the actuarial liabilities of DB 

pension funds) are considered assets of the household sector. 

As a result, households’ indirectly held corporate equities no 

longer include equities held by private, state and local, or federal 

government DB pension plans. Corporate equities in DC 

pension plans are still included in household’s indirectly held 

corporate equities. The pension entitlements of DB pension 

plans are included in “other financial assets” on table B.100.e. 

Private pension fund benchmark Assets of the private pension fund sector (tables F.117, F.117.b, 

F.117.c, L.117, L.117.b, and L.117.c) have 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 year 2011. 

Rest of world sector annual revision Revisions to the rest of the world sector (tables F.106 and 

L.106) reflect new estimates of the U.S. international tranactions 

accounts (ITAs) and the U.S. international investment position 

(IIP) accounts from the BEA for 1999 through 2012. The new 

estimates are detailed in the July 2013 Survey of Current 

Business. 

Seasonal adjustment Seasonal factors for quarterly flows have been recalculated for 

the period 2003:Q1 forward. The seasonal factors were 

generated using the X-12-ARIMA seasonal adjustment program 

by the U.S. Census Bureau. In addition, beginning in 2007 

seasonal factors have been set to zero for a select number of 

series where the unadjusted flow series are no longer being 

published by BEA. 

Series mnemonics changes Series mnenomonics for the change in unadjusted level, 

previously beginning with “FR”, now begin with “FC”. These 

series appear primarily on the reconciliation tables (R.100, 

R.102, and R.103) and the Integrated Macroeconomic Accounts 

tables. 

 
vi 
vii 

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 FA 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 

seasonal adjustment program from the U.S. Census 

Bureau, estimated using the most recent 10 years of 

Explanatory Notes 
viii 

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 
ix

Sector Table Available at time of publication 

National income and product 

accounts (NIPA) 

(various tables) 

Second estimate, seasonally adjusted, for 2013:Q2. 

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:Q2. 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:Q2; Internal Revenue Service Statistics of Income

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

bank loans, commercial paper, and other loans through 

2013:Q2. 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:Q2. 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:Q2; total financial assets through 2011: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:Q2. 

Rest of the world 

(tables F.106 and L.106) 

Balance of payments and International Investment Position data 

through 2013:Q2. NIPA estimates; bank Call Reports and 

Treasury International Capital System data through 2013:Q2. 

Monetary authority 

(tables F.108 and L.108) 

All data through 2013:Q2. 

U.S.-chartered depository 

institutions 

(tables F.110 and L.110) 

All data through 2013:Q2. 

Foreign banking offices in U.S. 

(tables F.111 and L.111) 

All data through 2013:Q2. 

Banks in U.S.-affiliated areas 

(tables F.112 and L.112) 

All data through 2013:Q2. 

Credit unions 

(tables F.113 and L.113) 

All data through 2013:Q2. 

Description of Most Recent Data Available 
x 

Sector Table Available at time of publication 

Property-casualty insurance 

companies 

(tables F.114 and L.114) 

All data through 2013:Q2. 

Life insurance companies 

(tables F.115 and L.115) 

All data through 2013:Q2. 

Private pension funds 

(tables F.117 and L.117) 

Internal Revenue Service/Department of Labor/Pension Benefit 

Guaranty Corporation Form 5500 data through 2011. 

State and local government 

employee retirement funds 

(tables F.118 and L.118) 

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

data through 2013:Q2 from the Census Bureau. 

Federal government retirement 

funds 

(tables F.119 and L.119) 

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.120 and L.120) 

All data through 2013:Q2. 

Mutual funds 

(tables F.121 and L.121 

All data through 2013:Q2. 

Closed-end funds 

(tables F.122 and L.122) 

All data through 2013:Q2. 

Exchange-traded funds 

(tables F.122 and L.122) 

All data through 2013:Q2. 

Government Sponsored Enterprises 

(GSEs) 

(tables F.123 and L.123) 

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

FCS, and REFCORP through 2013:Q2. 

Agency- and GSE-backed 

mortgage pools 

(tables F.124 and L.124) 

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

Mae through 2013:Q2. 

Issuers of asset-backed securities 

(ABSs) 

(tables F.125 and L.125) 

All data for private mortgage pools, consumer credit, business 

loans, student loans, consumer leases, and trade credit 

securitization through 2013:Q2. 

Finance companies 

(tables F.126 and L.126) 

All data through 2013:Q2. 

Real Estate Investment Trusts 

(REITs) 

(tables F.127 and L.127) 

Data from SNL Financial through 2013:Q2. 

Security brokers and dealers 

(tables F.128 and L.128) 

Data for firms filing FOCUS and FOGS reports through 

2013:Q2. 

Holding companies 

(table F.129 and L.129) 

All data through 2013:Q2. 

Funding corporations 

(tables F.130 and L.130) 

Estimates for this sector are largely residuals and are derived 

from data for other sectors. 
xi

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 66 

Nonfinancial Business F.101 19 L.101 67 

Nonfinancial Corporate Business F.102 20 L.102 68 

Nonfinancial Noncorporate Business F.103 21 L.103 69 

State and Local Governments F.104 22 L.104 70 

Federal Government F.105 23 L.105 71 

List of Data Tables 
xii 

Sectors

Rest of the World F.106 24 L.106 72 

Financial Business F.107 25 L.107 73 

Monetary Authority F.108 26 L.108 74 

Private Depository Institutions F.109 27 L.109 75 

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

Unions F.110 28 L.110 76 

Foreign Banking Offices in U.S. F.111 29 L.111 77 

Banks in U.S.-Affiliated Areas F.112 30 L.112 78 

Credit Unions F.113 30 L.113 78 

Property-Casualty Insurance Companies F.114 31 L.114 79 

Life Insurance Companies F.115 31 L.115 79 

Private and Public Pension Funds F.116 32 L.116 80 

Private Pension Funds F.117 33 L.117 81 

State and Local Government Employee Retirement 

Funds F.118 34 L.118 82 

Federal Government Employee Retirement Funds F.119 34 L.119 82 

Money Market Mutual Funds F.120 35 L.120 83 

Mutual Funds F.121 35 L.121 83 

Closed-End and Exchange-Traded Funds F.122 35 L.122 83 

Government-Sponsored Enterprises F.123 36 L.123 84 

Agency- and GSE-Backed Mortgage Pools F.124 36 L.124 84 

Issuers of Asset-Backed Securities F.125 37 L.125 85 

Finance Companies F.126 37 L.126 85 

Real Estate Investment Trusts F.127 38 L.127 86 

Security Brokers and Dealers F.128 39 L.128 87 

Holding Companies F.129 40 L.129 88 

Funding Corporations F.130 41 L.130 89 

Instruments 

U.S. Official Reserve Assets and SDR Allocations F.200 42 L.200 90 

Special Drawing Rights (SDRs) Certificates and Treasury 

Currency F.201 42 L.201 90 

U.S. Deposits in Foreign Countries F.202 42 L.202 90 

Net Interbank Transactions F.203 43 L.203 91 

Checkable Deposits and Currency F.204 44 L.204 92 

Time and Savings Deposits F.205 45 L.205 93 
xiii

Instruments 

Money Market Mutual Fund Shares F.206 45 L.206 93 

Federal Funds and Security Repurchase Agreements F.207 46 L.207 94 

Open Market Paper F.208 47 L.208 95 

Treasury Securities F.209 48 L.209 96 

Agency- and GSE-Backed Securities F.210 49 L.210 97 

Municipal Securities and Loans F.211 50 L.211 98 

Corporate and Foreign Bonds F.212 51 L.212 99 

Corporate Equities F.213 52 L.213 100 

Mutual Fund Shares F.214 52 L.214 100 

Depository Institution Loans Not Elsewhere Classified F.215 53 L.215 101 

Other Loans and Advances F.216 54 L.216 102 

Total Mortgages F.217 55 L.217 103 

Home Mortgages F.218 56 L.218 104 

Multifamily Residential Mortgages F.219 56 L.219 104 

Commercial Mortgages F.220 57 L.220 105 

Farm Mortgages F.221 57 L.221 105 

Consumer Credit F.222 58 L.222 106 

Trade Credit F.223 59 L.223 107 

Security Credit F.224 59 L.224 107 

Life Insurance Reserves F.225 60 L.225 108 

Pension Entitlements F.226 60 L.226 108 

Taxes Payable by Businesses F.227 60 L.227 108 

Proprietors' Equity in Noncorporate Business F.228 60 L.228 108 

Total Miscellaneous Financial Claims F.229 61 L.229 109 

Identified Miscellaneous Financial Claims - Part I F.230 62 L.230 110 

Identified Miscellaneous Financial Claims - Part II F.231 63 L.231 111 

Unidentified Miscellaneous Financial Claims F.232 64 L.232 112 

Sector Discrepancies F.11 65 

Instrument Discrepancies F.12 65 

Title 

Balance Sheet Reconciliation 

Table Page Table Page 

Balance Sheet and Changes in Net Worth 

Households and Nonprofit Organizations B.100 113 R.100 116 

Nonfinancial Corporate Business B.102 114 R.102 117 

Nonfarm Noncorporate Business B.103 115 R.103 118 
xiv 

Title 

Flows Levels 

Table Page Table Page 

Supplementary Tables 

Balance Sheet of Households and Nonprofit Organizations 

with Equity Detail B.100.e 119 

Nonprofit Organizations F.100.a 120 L.100.a 121 

Consolidated Statement for Federal, State, and Local 

Governments F.105.c 122 L.105.c 123 

Private Pension Funds: Defined Benefit Plans F.117.b 124 L.117.b 125 

Private Pension Funds: Defined Contribution Plans F.117.c 124 L.117.c 125 

Individual Retirement Accounts (IRAs) F.226.i 124 L.226.i 125 

Equity Real Estate Investment Trusts F.127.e 126 L.127.e 127 

Mortgage Real Estate Investment Trusts F.127.m 126 L.127.m 127 

Title Table Page 

Integrated Macroeconomic Accounts for the United States 

Total Economy–Current Account S.1.a 128 

Selected Aggregates for Total Economy and Sectors S.2.a 129 

Households and Nonprofit Institutions Serving Households S.3.a 131 

Nonfinancial Noncorporate Business S.4.a 134 

Nonfinancial Corporate Business S.5.a 137 

Financial Business S.6.a 140 

Federal Government S.7.a 143 

State and Local Governments S.8.a 146 

Rest of the World S.9.a 149