Z.1, June 7, 2012 119

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

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

2005 2006 2007 2008 2009 2010 2011 2012

 Q1 Q2 Q3 Q4 Q1

 1 Assets 73366.8 78997.5 80410.8 67648.6 69467.2 72852.6 74471.2 74260.4 71564.2 73518.3 76298.2 1

 2 Nonfinancial assets 28477.9 29579.9 28254.0 24787.4 23740.2 23448.2 23346.4 23292.2 23352.5 23288.9 23774.1 2

 3 Financial assets 44888.8 49417.6 52156.8 42861.1 45727.0 49404.5 51124.8 50968.2 48211.7 50229.4 52524.1 3

 4 Deposits 6232.1 6847.9 7502.0 8107.1 7969.1 7966.4 8041.1 8241.0 8434.3 8651.1 8688.4 4

 5 Credit market instruments 4298.4 4434.2 5047.8 4973.7 5243.8 5423.1 5417.0 5215.0 5188.0 5147.7 5119.5 5

 6 Equity shares at market value 17391.6 20353.9 20937.9 12451.2 15952.0 18354.3 19667.3 19484.5 16247.9 17723.9 19762.5 6

 7 Directly held 8083.5 9632.9 9614.8 5742.5 7397.6 8579.2 9303.2 9174.1 7629.8 8356.8 9288.2 7

 8 Indirectly held 9308.1 10721.0 11323.1 6708.7 8554.4 9775.1 10364.1 10310.4 8618.1 9367.1 10474.3 8

 9 Life insurance companies 1140.1 1334.7 1466.8 956.9 1220.3 1420.5 1505.9 1503.7 1358.4 1448.5 1549.9 9

10 Private pension funds 3630.8 4155.6 4260.5 2471.9 3055.6 3502.6 3699.4 3676.7 3105.6 3379.1 3776.5 10

11 Defined benefit plans 1567.7 1729.9 1660.7 903.5 975.2 1069.7 1117.8 1103.4 913.7 999.8 1110.0 11

12 Defined contribution plans 2063.1 2425.7 2599.8 1568.5 2080.3 2432.9 2581.6 2573.4 2191.9 2379.3 2666.5 12

13 State and local govt. retirement funds 1887.3 2129.0 2221.0 1338.3 1684.5 1939.0 2025.4 2008.0 1646.1 1827.5 2041.6 13

14 Federal government retirement funds 112.6 138.1 149.1 85.6 119.4 143.7 152.1 152.9 124.1 137.7 156.8 14

15 Mutual funds 2537.3 2963.5 3225.6 1856.0 2474.6 2769.2 2981.2 2969.1 2383.9 2574.4 2949.4 15

16 Other 16966.7 17781.7 18669.2 17329.1 16562.1 17660.7 17999.5 18027.7 18341.6 18706.7 18953.7 16

17 Liabilities 12142.5 13349.4 14244.8 14094.1 13872.3 13692.7 13614.7 13538.0 13476.1 13481.0 13432.6 17

18 Net worth 61224.3 65648.1 66166.0 53554.5 55594.9 59159.9 60856.5 60722.4 58088.1 60037.3 62865.6 18

 Memo:

19 Equity shares excluding defined benefit plans 13917.1 16473.5 17034.8 10197.1 13278.1 15330.4 16508.4 16357.9 13675.5 14882.9 16595.9 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) 23.7 25.8 26.0 18.4 23.0 25.2 26.4 26.2 22.7 24.1 25.9 20

21 Financial assets (line 3) 38.7 41.2 40.1 29.1 34.9 37.2 38.5 38.2 33.7 35.3 37.6 21

(1) Estimates of equity shares (lines 7 through 15) could differ from other sources owing to alternative definitions of ownership of equity by households.

 Prior to 1985, all pension assets are assumed to have been in defined benefit plans.
120 Z.1, June 7, 2012

F.100.a Nonprofit Organizations (1)

Billions of dollars

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

 

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

(2) Not included in table F.100.
Z.1, June 7, 2012 121

L.100.a Nonprofit Organizations (1)

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

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

 

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

(2) Not included in table L.100.
122 Z.1, June 7, 2012

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

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2006 2007 2008 2009 2010 2011 2011 2012

 Q1 Q2 Q3 Q4 Q1

 1 Current receipts, NIPA basis 3995.2 4197.0 4051.6 3703.7 3962.8 4156.5 4106.0 4154.4 4175.0 4190.7 4320.4 1

 2 Personal current taxes 1352.4 1488.7 1435.7 1141.4 1193.9 1397.7 1365.9 1396.2 1409.1 1419.4 1448.0 2

 3 Taxes on production and imports 986.8 1027.2 1038.6 1017.9 1054.0 1097.9 1087.4 1101.1 1100.0 1103.3 1113.0 3

 4 Taxes on corporate income 454.2 420.6 281.0 249.1 387.4 389.7 397.2 394.4 384.3 382.8 459.1 4

 5 Taxes from the rest of the world 14.0 14.7 18.8 14.7 13.3 15.7 14.3 15.3 17.0 16.3 14.5 5

 6 Contributions for govt. social insurance 926.4 964.2 992.1 969.0 991.7 928.9 915.9 921.9 936.8 940.9 954.0 6

 7 Income receipts on assets 129.6 144.2 137.5 141.4 144.0 145.0 145.2 144.0 145.1 145.6 149.9 7

 8 Current transfer receipts 136.0 149.2 163.9 185.2 194.1 197.0 195.7 196.1 197.1 199.2 200.7 8

 9 Current surplus of government enterprises -4.2 -11.8 -16.0 -14.9 -15.7 -15.3 -15.6 -14.6 -14.5 -16.7 -18.7 9

10 Current expenditures, NIPA basis 4147.9 4430.0 4737.3 4999.7 5261.8 5409.9 5364.3 5470.0 5418.9 5386.3 5407.0 10

11 Consumption expenditures 2093.3 2217.8 2381.0 2412.2 2497.5 2547.3 2530.7 2560.4 2561.0 2537.0 2545.6 11

12 Government social benefits 1596.1 1701.2 1857.9 2116.0 2259.5 2313.5 2305.0 2324.7 2314.2 2310.3 2321.6 12

13 Other current transfer payments 34.9 42.2 45.3 53.3 57.3 57.8 56.8 64.9 55.8 53.7 61.1 13

14 Interest payments 372.2 414.3 400.2 358.6 390.2 428.4 411.7 457.4 423.7 420.9 416.5 14

15 Subsidies 51.4 54.6 52.9 59.7 57.3 62.8 60.0 62.7 64.2 64.4 62.3 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 -152.7 -233.0 -685.7 -1296.0 -1299.0 -1253.3 -1258.3 -1315.6 -1243.9 -1195.5 -1086.6 17

18 + Consumption of fixed capital 269.3 291.3 311.2 323.7 334.0 352.2 343.8 349.4 355.2 360.5 366.0 18

19 - Insurance and pension fund reserves (1) 0.1 0.1 -0.6 0.5 -1.7 -0.4 -2.1 -0.1 0.5 -0.0 -2.1 19

20 - Contr. for govt. soc. insur., U.S.-affiliated areas 4.6 4.7 4.8 4.9 4.9 4.5 4.4 4.4 4.5 4.6 4.6 20

21 - Net capital transfers (2) -14.7 -2.6 3.0 14.9 29.8 37.8 40.4 41.4 43.0 26.4 24.9 21

22 = Gross saving less net capital transfers 126.6 56.1 -381.7 -992.5 -997.8 -942.9 -957.2 -1012.0 -936.6 -866.0 -748.0 22

23 Gross investment 133.2 52.7 -448.6 -920.8 -906.4 -924.5 -1046.7 -42.8 -1651.7 -957.0 -993.1 23

24 Fixed investment 425.1 456.5 497.2 505.4 505.3 483.3 483.6 478.2 486.3 484.9 472.6 24

25 Nonproduced nonfinancial assets -2.2 12.5 -5.1 7.3 14.8 15.5 15.5 15.3 15.0 16.0 15.4 25

26 Net lending (+) or net borrowing (-) -289.6 -416.3 -940.7 -1433.4 -1426.5 -1423.3 -1545.9 -536.3 -2153.0 -1457.9 -1481.1 26

27 Net acquisition of financial assets 61.8 92.1 519.1 216.7 347.5 -190.3 -701.4 -17.5 -201.9 159.7 -101.8 27

28 U.S. official reserve assets -2.7 -0.4 4.2 51.9 1.6 16.2 16.3 24.8 16.0 7.9 5.1 28

29 Checkable deposits and currency 2.7 20.4 321.6 -155.0 155.5 -241.7 -831.9 13.0 -315.6 167.5 -133.5 29

30 Time and savings deposits 26.4 37.6 17.9 11.2 -0.4 17.7 3.7 20.9 13.6 32.7 4.9 30

31 Money market fund shares 2.8 6.6 -1.8 4.1 5.4 -2.4 -2.4 -2.4 -4.6 -0.1 -2.2 31

32 Security RPs 5.6 13.0 -3.5 8.0 10.6 -4.6 -4.7 -4.7 -9.0 -0.2 -4.2 32

33 Credit market instruments 39.6 64.9 2.6 239.2 115.3 -28.5 125.2 -103.3 -41.4 -94.5 -10.1 33

34 Open market paper 7.3 -3.0 -64.6 -54.5 7.0 20.8 41.3 13.8 8.2 19.8 14.5 34

35 Agency- and GSE-backed securities (3) 15.8 37.0 44.5 124.9 -37.2 -156.4 -76.5 -172.5 -177.9 -198.5 -160.6 35

36 Municipal securities 0.2 0.5 -0.1 0.3 0.4 -0.2 -0.2 -0.2 -0.3 -0.0 -0.1 36

37 Corporate and foreign bonds 5.0 11.7 -3.1 7.8 9.8 -4.3 -4.2 -4.2 -8.4 -0.3 -3.9 37

38 Mortgages 9.7 15.4 9.5 21.1 2.4 0.4 5.1 1.2 -9.7 5.0 -0.0 38

39 Consumer credit 1.6 6.0 11.3 74.3 130.2 108.7 151.5 71.1 141.4 70.7 138.0 39

40 Other loans and advances (4) -0.0 -2.9 5.2 65.2 2.7 2.4 8.2 -12.5 5.3 8.8 2.2 40

41 Corporate equities -7.9 0.7 275.3 16.5 -4.9 36.1 5.4 56.9 72.1 9.8 -86.1 41

42 Mutual fund shares -2.4 -0.1 13.1 -7.7 -8.5 -1.2 -7.9 -0.4 17.3 -13.7 -35.6 42

43 Trade receivables -5.9 14.5 0.6 -12.9 10.1 -0.3 -11.2 4.4 -5.4 10.8 -24.4 43

44 Taxes receivable 5.0 -32.7 -59.8 38.2 69.5 73.6 87.0 40.9 128.2 38.3 128.7 44

45 Miscellaneous assets -1.4 -32.4 -51.2 23.1 -6.7 -55.1 -80.8 -67.6 -73.1 1.0 55.5 45

46 Net increase in liabilities 351.4 508.5 1459.7 1650.1 1774.0 1233.0 844.5 518.8 1951.2 1617.6 1379.2 46

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

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

49 Treasury currency 0.6 -0.7 -0.8 -0.4 -0.3 0.0 0.0 0.0 0.0 0.0 0.0 49

50 Credit market instruments 249.3 365.0 1308.3 1535.7 1635.9 1067.4 702.4 796.2 1430.6 1340.3 1290.0 50

51 Savings bonds -2.7 -6.0 -2.4 -2.8 -3.3 -2.7 -4.6 -3.9 -2.8 0.3 -1.8 51

52 Treasury bills and other Treasury securities (4) 154.7 225.2 1291.4 1427.7 1573.2 1128.5 806.1 907.2 1431.6 1369.2 1349.2 52

53 Budget agency securities -0.3 -0.4 0.2 0.1 0.7 1.1 1.2 0.2 1.9 1.1 -3.3 53

54 Municipal securities 97.7 146.2 19.2 110.7 65.3 -59.5 -100.3 -107.3 -0.0 -30.3 -54.1 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 40.6 66.4 61.8 -18.4 46.9 61.4 84.5 27.4 56.3 77.5 47.3 56

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

58 Miscellaneous liabilities (5) 59.4 76.6 89.5 81.4 90.6 102.9 57.2 -306.5 463.0 197.9 41.4 58

59 Discrepancy -6.7 3.4 66.8 -71.7 -91.4 -18.4 89.5 -969.2 715.0 91.0 245.1 59

 Memo:

60 Net govt. saving less fixed investment (6) -577.8 -689.5 -1182.9 -1801.4 -1804.3 -1736.6 -1741.9 -1793.8 -1730.2 -1680.5 -1559.2 60

61 Adjustment between NIPA and FOF (7) 288.2 273.1 242.2 367.9 377.8 313.3 196.1 1257.5 -422.8 222.5 78.1 61

62 Items to be financed (8) -289.6 -416.3 -940.7 -1433.4 -1426.5 -1423.3 -1545.9 -536.3 -2153.0 -1457.9 -1481.1 62

(1) Railroad Retirement Board, the National Railroad Retirement Investment Trust, and federal government life insurance reserves. Saving transferred to the households and nonprofit organizations sector.

 Includes value of Treasury and agency- and GSE-backed securities held by state and local government employee retirement funds.

(2) Table F.9, line 60 less line 12.

(3) Holdings by state and local governments may include small amounts of budget agency securities issued by the federal government.

(4) Excludes transactions with state and local governments.

(5) Includes nonmarketable government securities held by the civil service retirement and disability fund, Railroad Retirement Board, judicial retirement fund, military

 retirement fund, and foreign service retirement and disability fund.

(6) Line 17 less line 24.

(7) Line 18 less the sum of lines 19, 20, 21, 25, and 59.

(8) Line 60 plus line 61.
Z.1, June 7, 2012 123

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

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

2006 2007 2008 2009 2010 2011 2011 2012

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 2414.4 2661.1 3197.0 3339.2 3685.3 3414.0 3494.0 3493.7 3392.3 3414.0 3363.5 1

 2 U.S. official reserve assets 34.5 36.4 41.9 94.6 95.4 103.9 102.1 105.9 105.0 103.9 104.5 2

 3 Checkable deposits and currency 94.8 113.6 433.6 278.5 433.6 191.7 207.5 230.8 151.8 191.7 146.7 3

 4 Time and savings deposits 211.2 248.8 266.6 277.8 277.4 295.2 280.4 276.0 281.7 295.2 313.2 4

 5 Money market fund shares 72.7 79.3 77.5 81.6 86.9 84.6 86.3 85.8 84.6 84.6 84.0 5

 6 Security RPs 143.0 156.1 152.6 160.6 171.2 166.5 170.0 168.8 166.6 166.5 165.5 6

 7 Credit market instruments 1146.2 1211.1 1213.7 1452.9 1568.2 1539.7 1600.4 1571.7 1562.0 1539.7 1537.8 7

 8 Open market paper 187.3 184.3 119.8 65.3 72.2 93.0 82.6 86.0 88.1 93.0 96.6 8

 9 Agency- and GSE-backed securities (1) 407.0 444.0 488.5 613.4 576.2 419.9 557.1 514.0 469.5 419.9 379.7 9

10 Municipal securities 5.1 5.5 5.4 5.7 6.1 5.9 6.0 6.0 5.9 5.9 5.9 10

11 Corporate and foreign bonds 129.0 140.7 137.5 145.4 155.2 150.9 154.1 153.1 151.0 150.9 149.9 11

12 Mortgages 234.2 249.7 259.1 280.2 282.7 283.1 283.9 284.2 281.8 283.1 283.0 12

13 Consumer credit 86.9 93.0 104.3 178.6 308.8 417.4 347.5 362.4 398.5 417.4 452.6 13

14 Other loans and advances (2) 96.8 93.9 99.1 164.3 167.0 169.5 169.1 165.9 167.3 169.5 170.0 14

15 Corporate equities 98.1 108.0 270.8 185.0 159.8 164.2 164.2 169.3 163.4 164.2 151.1 15

16 Mutual fund shares 30.0 32.8 32.0 33.7 30.9 30.0 30.7 30.4 30.0 30.0 24.7 16

17 Trade receivables 206.0 220.5 221.1 208.3 218.4 218.0 218.9 220.0 218.9 218.0 215.6 17

18 Taxes receivable 285.1 342.5 389.3 416.1 448.9 474.0 458.2 466.8 463.0 474.0 479.5 18

19 Miscellaneous assets 92.7 112.1 97.8 150.2 194.6 146.3 175.3 168.0 165.3 146.3 140.9 19

20 Total liabilities 8912.6 9421.7 10881.1 12528.1 14298.4 15517.4 14563.9 14565.3 15090.7 15517.4 15916.1 20

21 SDR allocations 7.4 7.7 7.5 55.4 54.4 54.2 56.0 56.5 55.2 54.2 54.7 21

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

23 Treasury currency 28.1 27.4 26.6 26.2 25.9 25.9 25.9 25.9 25.9 25.9 25.9 23

24 Credit market instruments 7088.2 7453.2 8761.5 10297.2 11933.1 13000.5 12186.5 12263.9 12660.4 13000.5 13399.4 24

25 Savings bonds 202.4 196.4 194.0 191.2 187.9 185.2 186.8 186.0 185.1 185.2 184.7 25

26 Treasury bills and other Treasury securities (3) 4152.6 4377.7 5669.1 7096.8 8670.0 9798.5 8944.1 9055.1 9463.1 9798.5 10206.7 26

27 Budget agency securities 23.5 23.1 23.3 23.5 24.2 25.3 24.5 24.5 25.0 25.3 24.4 27

28 Municipal securities 2709.7 2855.9 2875.0 2985.7 3051.1 2991.6 3031.2 2998.3 2987.2 2991.6 2983.5 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 725.3 791.7 853.4 835.0 881.9 943.5 906.7 922.8 936.7 943.5 960.5 30

31 Insurance reserves 44.2 45.4 46.4 47.5 48.4 49.7 48.5 48.9 49.2 49.7 49.8 31

32 Miscellaneous liabilities (4) 1017.2 1094.2 1183.5 1261.6 1349.4 1438.3 1335.1 1242.0 1358.1 1438.3 1420.6 32

(1) Holdings by state and local governments may include small amounts of budget agency securities issued by the federal government.

(2) Excludes loans to state and local governments.

(3) Excludes Treasury securities owed to state and local governments.

(4) Includes nonmarketable government securities held by the civil service retirement and disability fund, Railroad Retirement Board, judicial retirement fund, military

 retirement fund, and foreign service retirement and disability fund.
124 Z.1, June 7, 2012

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

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2006 2007 2008 2009 2010 2011 2011 2012

 Q1 Q2 Q3 Q4 Q1

 1 Net acquisition of financial assets -46.6 -76.4 -82.4 -35.1 -31.9 -28.7 -33.1 -26.4 -26.7 -28.5 -27.8 1

 2 Checkable deposits and currency 0.2 0.2 0.1 2.8 3.1 0.7 -4.3 2.2 1.3 3.4 -2.0 2

 3 Time and savings deposits 0.4 1.6 1.1 3.3 -0.0 0.5 0.3 2.4 -0.9 0.1 0.0 3

 4 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Security RPs 0.3 0.2 0.1 -0.0 -1.1 -0.7 0.4 -1.0 -2.3 0.4 0.9 5

 6 Credit market instruments 34.3 84.8 71.8 114.1 29.9 2.0 -5.1 -15.1 25.9 2.4 4.1 6

 7 Open market paper 0.3 -4.5 10.1 -4.1 -2.2 -0.5 1.1 -1.0 -1.5 -0.8 0.2 7

 8 Treasury securities 11.8 32.8 10.1 97.9 44.5 19.9 15.3 3.3 35.8 25.1 26.7 8

 9 Agency- and GSE-backed securities 2.6 26.7 13.7 -23.4 -10.9 -7.6 -5.2 -13.0 -3.9 -8.1 -16.0 9

10 Corporate and foreign bonds 19.6 30.3 38.2 44.6 -1.2 -9.6 -16.1 -4.2 -4.4 -13.7 -6.7 10

11 Mortgages -0.1 -0.5 -0.3 -0.9 -0.3 -0.1 -0.2 -0.1 -0.1 -0.1 -0.2 11

12 Corporate equities -107.9 -209.0 -171.1 -159.6 -59.7 -37.8 -47.1 -31.3 -29.4 -43.3 -58.4 12

13 Mutual fund shares -0.2 20.1 15.5 -5.2 -2.1 5.1 26.1 12.5 -19.8 1.6 19.9 13

14 Miscellaneous assets 26.3 25.6 0.0 9.6 -2.0 1.5 -3.4 3.8 -1.5 7.0 7.7 14

15 Unallocated insurance contracts (1) 12.0 29.0 24.0 5.6 -1.9 1.1 -5.0 4.0 3.0 2.3 2.6 15

16 Contributions receivable -0.2 -0.2 -0.1 -0.4 -0.9 0.7 -0.0 -0.0 1.0 1.8 1.7 16

17 Other 14.5 -3.1 -23.9 4.4 0.8 -0.3 1.6 -0.2 -5.5 2.9 3.4 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 100.1 108.1 45.6 95.1 93.1 89.5 111.8 94.8 35.6 115.6 78.6 1

 2 Checkable deposits and currency 0.2 0.4 0.3 1.4 1.4 0.4 0.2 1.5 0.2 -0.3 -0.9 2

 3 Time and savings deposits 0.5 3.0 -0.8 1.4 0.2 -0.0 -0.5 -0.4 -0.4 1.2 -0.2 3

 4 Money market fund shares 3.4 3.4 2.3 0.6 -0.1 -0.2 -0.2 -0.2 -0.2 -0.2 -15.6 4

 5 Security RPs 0.4 3.1 7.2 3.1 0.9 -3.6 0.8 -16.9 3.9 -2.0 12.2 5

 6 Credit market instruments 24.1 17.7 18.9 -2.5 29.4 36.8 39.4 26.3 51.2 30.1 24.1 6

 7 Open market paper -0.1 -0.3 0.2 -6.4 -6.3 -0.9 3.4 -1.1 -1.1 -4.7 2.8 7

 8 Treasury securities 2.4 5.9 5.3 27.9 35.8 25.3 16.6 23.2 39.8 21.6 20.8 8

 9 Agency- and GSE-backed securities 14.0 1.4 7.7 -25.7 -0.6 2.3 10.2 -0.6 1.6 -1.8 1.3 9

10 Corporate and foreign bonds 8.1 9.5 4.5 -1.8 -1.6 10.4 10.9 5.9 13.1 11.8 -0.4 10

11 Mortgages -0.2 1.2 1.2 3.5 2.2 -0.4 -1.7 -1.0 -2.2 3.2 -0.4 11

12 Corporate equities 21.4 20.7 -13.6 -16.0 9.2 13.3 14.1 16.5 10.9 11.5 -13.1 12

13 Mutual fund shares 75.0 68.0 20.0 95.0 83.0 51.0 80.0 88.0 -32.0 68.0 80.0 13

14 Miscellaneous assets -25.0 -8.1 11.3 12.0 -30.9 -8.2 -22.1 -19.9 1.9 7.3 -8.0 14

15 Unallocated insurance contracts (2) -13.4 -2.7 14.2 4.5 -2.5 -1.9 -2.3 -3.0 -1.8 -0.4 -1.4 15

16 Contributions receivable -1.8 4.7 0.8 2.9 -0.4 -0.5 -0.6 -0.1 -0.5 -0.8 -0.4 16

17 Other -9.8 -10.1 -3.7 4.6 -28.0 -5.8 -19.2 -16.9 4.2 8.5 -6.2 17

(1) Includes 401(k) type plans.

(2) Assets of private pension plans held at life insurance companies (e.g., GICs, variable annuities); series begins 1985:Q4.

F.225.i Individual Retirement Accounts (IRAs) (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Total held at: 247.4 275.7 247.5 198.6 88.7 20.1 -140.0 168.0 100.0 -47.6 ND 1

 2 U.S.-chartered depository institutions 30.6 22.2 44.2 30.7 26.6 20.3 9.0 28.0 47.1 -2.8 ND 2

 3 Credit unions 3.9 5.0 7.2 8.7 3.0 1.3 1.1 1.4 1.7 0.8 ND 3

 4 Life insurance companies 12.2 17.9 28.9 -6.0 11.9 7.9 -1.0 20.0 36.0 -23.6 ND 4

 5 Money market mutual funds 34.0 45.0 48.0 -42.0 -23.0 9.0 -20.0 20.0 44.0 -8.0 ND 5

 6 Mutual funds 102.4 118.7 -117.8 149.3 121.3 50.5 133.5 106.2 -118.8 81.0 ND 6

 7 Other self-directed accounts 64.3 66.8 236.9 57.9 -51.1 -68.8 -262.7 -7.7 90.0 -94.9 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 through 4)

 include Keogh accounts. Variable annuities in IRAs are in the life insurance sector (line 5) and are excluded from the mutual fund sector (line 7) and from the money market fund sector (line 6).
Z.1, June 7, 2012 125

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

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

2006 2007 2008 2009 2010 2011 2011 2012

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 2529.5 2596.0 1853.5 2104.7 2264.3 2206.4 2322.7 2309.7 2102.9 2206.4 2341.2 1

 2 Checkable deposits and currency 5.5 5.8 5.9 8.7 11.8 12.4 10.7 11.2 11.6 12.4 11.9 2

 3 Time and savings deposits 42.3 44.0 45.0 48.3 48.3 48.7 48.4 48.9 48.7 48.7 48.7 3

 4 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Security RPs 5.4 5.6 5.8 5.7 4.7 4.0 4.8 4.5 3.9 4.0 4.2 5

 6 Credit market instruments 502.8 587.6 659.3 773.4 803.3 805.3 802.0 798.3 804.7 805.3 806.4 6

 7 Open market paper 5.5 1.0 11.0 6.9 4.8 4.2 5.0 4.8 4.4 4.2 4.3 7

 8 Treasury securities 71.8 104.6 114.8 212.7 257.1 277.0 260.9 261.8 270.7 277.0 283.7 8

 9 Agency- and GSE-backed securities 201.1 227.8 241.5 218.2 207.3 199.7 206.0 202.8 201.8 199.7 195.8 9

10 Corporate and foreign bonds 220.2 250.6 288.7 333.3 332.1 322.5 328.1 327.0 325.9 322.5 320.8 10

11 Mortgages 4.1 3.6 3.2 2.3 2.0 1.9 2.0 1.9 1.9 1.9 1.8 11

12 Corporate equities 1520.7 1423.8 777.1 805.2 878.8 829.4 916.4 903.9 754.5 829.4 918.7 12

13 Mutual fund shares 296.4 338.6 228.0 286.3 318.1 308.0 335.5 337.3 294.5 308.0 336.7 13

14 Miscellaneous assets 156.4 190.7 132.4 177.1 199.4 198.6 204.9 205.5 185.0 198.6 214.5 14

15 Unallocated insurance contracts (1) 116.5 154.2 119.9 160.5 182.9 181.6 188.0 188.6 169.2 181.6 196.3 15

16 Contributions receivable 1.6 1.4 1.3 0.9 0.0 0.7 0.0 0.0 0.3 0.7 1.2 16

17 Other 38.2 35.1 11.3 15.7 16.5 16.2 16.9 16.9 15.5 16.2 17.0 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 3553.3 3814.5 2699.2 3366.3 3835.7 3863.9 4008.5 4015.5 3587.0 3863.9 4199.1 1

 2 Checkable deposits and currency 5.7 6.0 6.4 7.7 9.1 9.5 9.2 9.5 9.6 9.5 9.3 2

 3 Time and savings deposits 20.8 23.7 22.9 24.3 24.6 24.6 24.4 24.3 24.2 24.6 24.5 3

 4 Money market fund shares 90.1 93.5 95.7 96.4 96.3 96.1 96.2 96.2 96.1 96.1 92.2 4

 5 Security RPs 17.0 20.1 27.3 30.5 31.4 27.9 31.6 27.4 28.4 27.9 30.9 5

 6 Credit market instruments 255.6 273.3 292.1 289.6 319.1 355.8 328.9 335.5 348.3 355.8 361.8 6

 7 Open market paper 26.3 26.0 26.1 19.7 13.4 12.5 14.2 14.0 13.7 12.5 13.2 7

 8 Treasury securities 59.0 64.9 70.2 98.1 133.9 159.2 138.0 143.8 153.8 159.2 164.4 8

 9 Agency- and GSE-backed securities 67.5 68.9 76.6 50.9 50.3 52.6 52.8 52.7 53.1 52.6 52.9 9

10 Corporate and foreign bonds 97.4 106.9 111.4 109.6 108.0 118.4 110.7 112.2 115.5 118.4 118.3 10

11 Mortgages 5.4 6.6 7.8 11.3 13.5 13.1 13.1 12.8 12.3 13.1 13.0 11

12 Corporate equities 1204.1 1249.5 822.7 1030.6 1202.3 1175.2 1269.0 1260.8 1061.0 1175.2 1325.3 12

13 Mutual fund shares 1584.0 1772.0 1138.0 1531.0 1803.0 1836.6 1895.1 1913.3 1700.6 1836.6 1998.1 13

14 Miscellaneous assets 376.2 376.4 294.1 356.2 350.0 338.2 354.1 348.5 318.8 338.2 357.0 14

15 Unallocated insurance contracts (2) 271.4 277.1 197.7 252.3 274.6 269.2 283.6 282.3 251.7 269.2 289.6 15

16 Contributions receivable 41.2 45.8 46.7 49.6 49.1 48.6 49.0 49.0 48.8 48.6 48.5 16

17 Other 63.6 53.4 49.7 54.3 26.3 20.4 21.5 17.3 18.3 20.4 18.9 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: 4207.0 4748.0 3681.0 4363.0 4839.0 4872.0 5025.0 5079.0 4658.0 4872.0 ND 1

 2 U.S.-chartered depository institutions 259.6 281.8 326.0 356.7 383.3 403.6 385.6 392.6 404.3 403.6 ND 2

 3 Credit unions 53.2 58.2 65.5 74.2 77.2 78.5 77.5 77.9 78.3 78.5 ND 3

 4 Life insurance companies 406.0 426.0 381.6 405.5 436.0 444.0 446.0 450.0 438.9 444.0 ND 4

 5 Money market mutual funds 179.0 224.0 272.0 230.0 207.0 216.0 202.0 207.0 218.0 216.0 ND 5

 6 Mutual funds 1766.0 1983.0 1267.0 1656.0 1918.0 1889.0 2017.0 2035.0 1777.0 1889.0 ND 6

 7 Other self-directed accounts 1543.2 1774.9 1368.9 1640.6 1817.5 1840.9 1896.9 1916.6 1741.5 1840.9 ND 7

(1) Assets of the household sector (L.100), shown at market value. IRA assets are not included in pension fund reserves (table L.225), except for those at life insurance companies. Figures for depositories

 (lines 2 through 4) include Keogh accounts. Variable annuities in IRAs are in the life insurance sector (line 5) and are excluded from the mutual fund sector (line 7) and from the money market fund

 sector (line 6).
Z.1, June 7, 2012 Flow of Funds Matrix for 2011

(Billions of dollars; All Sectors -- Flows)

Households State Domestic Domestic 

and Nonprofit Nonfinancial and Local Federal Nonfinancial Financial Rest of 

Organizations Business Governments Government Sectors Sectors the World 

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

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

 1 Gross saving less net cap. transfers -- 1959.3 -- 1700.0 -- 224.9 -- -1167.8 -- 2716.4 -- 314.6 -- 484. 2 Capital consumption -- 1207.3 -- 1105.2 -- 214.3 -- 137.9 -- 2664.7 -- 189.2 -- - 3 Net saving (1 less 2) -- 752.1 -- 594.8 -- 10.6 -- -1305.8 -- 51.7 -- 125.4 -- 484. 4 Gross investment (5 plus 11) 2520.6 -- 1561.2 -- 242.9 -- -1167.4 -- 3157.3 -- 56.4 -- 393.0 - 5 Capital expenditures 1483.5 -- 1303.1 -- 338.1 -- 160.7 -- 3285.3 -- 202.8 -- 0.0 - 6 Consumer durables 1088.6 -- -- -- -- -- -- -- 1088.6 -- -- -- -- - 7 Residential 286.5 -- 44.7 -- 8.2 -- 1.7 -- 341.1 -- 6.3 -- -- - 8 Nonresidential 120.5 -- 1215.5 -- 314.3 -- 159.1 -- 1809.3 -- 196.6 -- -- - 9 Inventory change -- -- 46.3 -- -- -- -- -- 46.3 -- -- -- -- -10 Nonproduced nonfinancial assets -12.1 -- -3.3 -- 15.5 -- -0.1 -- 0.0 -- -- -- 0.0 -11 Net lending (+) or net borrowing (-) 1037.1 -- 258.2 -- -95.2 -- -1328.1 -- -128.0 -- -146.4 -- 393.0 -12 Total financial assets 820.0 -- 904.2 -- -114.4 -- -134.0 -- 1475.9 -- 1745.4 -- 826.1 -13 Total liabilities -- -217.1 -- 646.0 -- -19.2 -- 1194.1 -- 1603.9 -- 1891.8 -- 433.14 U.S. official reserve assets -- -- -- -- -- -- 16.2 0.0 16.2 0.0 -0.3 -- 0.0 15.15 SDR certificates -- -- -- -- -- -- -- 0.0 -- 0.0 0.0 -- -- -16 Treasury currency -- -- -- -- -- -- -- 0.0 -- 0.0 0.7 -- -- -17 Foreign deposits -3.8 -- -2.7 -- -- -- -- -- -6.5 -- -47.3 -- -- -63.18 Interbank claims -- -- -- -- -- -- -- -- -- -- 603.0 854.8 221.6 -19 Checkable dep. and currency 311.9 -- 56.6 -- 15.9 -- -257.6 -- 126.7 -- 31.3 234.5 75.8 -20 Time and savings deposits 399.2 -- 26.7 -- 18.0 -- -0.3 -- 443.6 -- -96.5 372.8 25.7 -21 Money market fund shares -22.5 -- -32.6 -- -2.4 -- -- -- -57.5 -- -48.8 -112.8 -6.5 -22 Fed. funds and security RPs -- -- -1.2 -- -4.6 -- -- -- -5.8 -- -67.0 -137.0 51.2 -23 Credit market instruments -275.8 -191.0 -18.6 509.8 -84.4 -58.6 -2.2 1067.9 -381.0 1328.2 1026.1 -462.6 201.2 -19.24 Open market paper -5.3 -- -10.5 33.4 20.8 -- -- -- 4.9 33.4 -92.9 -68.1 -0.2 -53.25 Treasury securities -91.7 -- -1.7 -- -59.0 -- -- 1066.8 -152.4 1066.8 953.8 -- 265.4 -26 Agency- and GSE-backed sec. -32.9 -- -0.6 -- -38.2 -- -118.1 1.1 -189.8 1.1 213.8 -21.9 -44.8 -27 Municipal securities -62.7 -7.8 -4.4 15.1 -0.2 -59.5 -- -- -67.3 -52.2 4.2 -- 10.9 -28 Corporate and fgn. bonds -69.0 -- -- 385.4 -4.2 -- -0.1 -- -73.2 385.4 193.9 -342.1 -72.2 5.29 Depository inst. loans n.e.c. -- -42.8 -- 125.6 -- -- -- -- -- 82.8 132.5 20.4 -- 29.30 Other loans and advances -2.8 2.0 -- 58.3 -- 0.9 3.3 -- 0.5 61.2 -41.6 -60.0 42.1 -0.31 Mortgages -11.4 -239.0 -1.4 -108.0 -3.7 -- 4.0 0.0 -12.3 -347.0 -325.5 9.1 -- -32 Consumer credit -- 96.6 0.0 -- -- -- 108.7 -- 108.7 96.6 -12.1 -- -- -33 Corporate equities -174.8 -- -- -473.4 -3.9 -- 40.0 -- -138.8 -473.4 -45.9 157.8 -43.1 87.34 Mutual fund shares 297.9 -- -11.2 -- -1.2 -- -- -- 285.4 -- 47.0 402.9 70.5 -35 Trade credit -- 14.0 201.7 188.9 -4.8 39.4 4.4 22.0 201.3 264.3 -0.8 -3.9 16.7 -27.36 Security credit 58.1 -39.7 -- -- -- -- -- -- 58.1 -39.7 39.3 137.0 0.0 0.37 Life insurance reserves 63.6 -- -- -- -- -- -- 1.3 63.6 1.3 7.3 69.6 -- -38 Pension fund reserves 146.5 -- -- -- -- -- -- -- 146.5 -- -- 146.5 -- -39 Taxes payable -- -- -- 4.9 10.1 -- 63.6 -- 73.6 4.9 -- 9.9 -- -40 Equity in noncorp. business -26.9 -- -- -25.1 -- -- -- -- -26.9 -25.1 -- -1.8 -- -41 Miscellaneous 46.8 -0.4 685.6 440.8 -57.0 -- 1.9 102.9 677.3 543.2 297.4 223.9 213.1 439.42 Sector discrepancies (1 less 4) -561.3 -- 138.8 -- -18.0 -- -0.4 -- -440.9 -- 258.2 -- 91.4 -General notes: U = use of funds; S = source of funds. Domestic nonfinancial sectors (columns 9 and 10) are households and nonprofit organizations, nonfinancial business, state and local governments, and federal government.
Z.1, June 7, 2012 Flow of Funds Matrix for 2011

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

Households State Domestic Domestic 

and Nonprofit Nonfinancial and Local Federal Nonfinancial Financial R

Organizations Business Governments Government Sectors Sectors the 

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

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

 1 Total financial assets 50229.4 -- 18544.2 -- 2524.8 -- 1349.1 -- 72647.5 -- 65969.0 -- 18245.2  2 Total liabilities and equity -- 13481.0 -- 41245.6 -- 3715.1 -- 12262.2 -- 70703.9 -- 66499.5 --  3 Total liabilities -- 13481.0 -- 19300.8 -- 3715.1 -- 12262.2 -- 48759.1 -- 62339.9 --  4 U.S. official reserve assets -- -- -- -- -- -- 103.9 54.2 103.9 54.2 36.8 -- 54.2  5 SDR certificates -- -- -- -- -- -- -- 5.2 -- 5.2 5.2 -- --  6 Treasury currency -- -- -- -- -- -- -- 25.9 -- 25.9 44.2 -- --  7 Foreign deposits 51.0 -- 38.4 -- -- -- -- -- 89.4 -- 58.5 -- --  8 Interbank claims -- -- -- -- -- -- -- -- -- -- 1622.6 1984.8 367.5  9 Checkable dep. and currency 660.2 -- 902.5 -- 107.4 -- 84.3 -- 1754.4 -- 367.1 2594.3 466.2 10 Time and savings deposits 6832.8 -- 877.7 -- 293.5 -- 1.7 -- 8005.6 -- 527.0 8805.2 272.6 11 Money market fund shares 1107.2 -- 523.1 -- 84.6 -- -- -- 1714.9 -- 864.5 2642.5 63.2 12 Fed. funds and security RPs -- -- 10.9 -- 166.5 -- -- -- 177.4 -- 823.8 1140.7 -44.9 13 Credit market instruments 5147.7 12930.0 303.8 11804.9 1254.9 3006.8 744.7 10453.6 7451.0 38195.4 38216.3 13793.8 8575.7 14 Open market paper 58.2 -- 57.2 116.3 93.0 -- -- -- 208.4 116.3 570.1 507.8 190.7 15 Treasury securities 1115.3 -- 90.5 -- 444.6 -- -- 10428.3 1650.4 10428.3 4127.2 -- 4650.7 16 Agency- and GSE-backed sec. 93.1 -- 15.3 -- 388.8 -- 31.1 25.3 528.3 25.3 6016.5 7552.1 1032.6 17 Municipal securities 1891.8 254.4 24.6 497.4 5.9 2991.6 -- -- 1922.3 3743.4 1738.4 -- 82.7 18 Corporate and fgn. bonds 1887.1 -- -- 5076.8 150.1 -- 0.8 -- 2038.0 5076.8 7132.6 4767.8 2416.4 19 Depository inst. loans n.e.c. -- 35.8 -- 1530.2 -- -- -- -- -- 1566.0 2087.1 376.8 -- 20 Other loans and advances 23.4 138.1 -- 1276.9 -- 15.3 184.7 -- 208.1 1430.3 1454.8 413.1 202.5 21 Mortgages 78.8 9993.5 63.1 3307.4 172.4 -- 110.6 0.0 425.0 13300.9 13052.0 176.2 -- 22 Consumer credit -- 2508.2 53.1 -- -- -- 417.4 -- 470.5 2508.2 2037.7 -- -- 23 Corporate equities 8356.8 -- -- 14511.1 106.7 -- 57.5 -- 8521.0 14511.1 11053.2 4148.8 2948.1 24 Mutual fund shares 4652.2 -- 167.5 -- 30.0 -- -- -- 4849.6 -- 2591.0 8000.5 559.9 25 Trade credit -- 288.2 2866.3 2308.6 170.7 708.2 47.4 235.3 3084.3 3540.3 134.8 14.2 133.0 26 Security credit 752.3 238.5 -- -- -- -- -- -- 752.3 238.5 559.8 1073.6 0.0 27 Life insurance reserves 1200.8 -- -- -- -- -- -- 49.7 1200.8 49.7 148.4 1299.4 -- 28 Pension fund reserves 13147.1 -- -- -- -- -- -- -- 13147.1 -- -- 13147.1 -- 29 Taxes payable -- -- -- 142.8 307.5 -- 166.5 -- 474.0 142.8 -- -72.2 -- 30 Equity in noncorp. business 7444.3 -- -- 7433.6 -- -- -- -- 7444.3 7433.6 -- 10.7 -- 31 Miscellaneous 877.2 24.3 12854.0 5044.5 3.2 -- 143.1 1438.3 13877.5 6507.1 8915.9 7916.0 4849.7 General notes: A = assets; L = liabilities. Domestic nonfinancial sectors (columns 9 and 10) are households and nonprofit organizations, nonfinancial business, state and local governments, and federal government. Equity included in line 2 is the sum of corporate equities (line 25) and equity in noncorporate business (line 32). The matrix shows a discrepancy in column 17 for monetary gold (line 4) because by international accounting convention, monetary gold is a financial asset without a corresponding liability.